================================================================================ 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 811-3258 ----------------- DFA INVESTMENT DIMENSIONS GROUP INC. (Exact name of registrant as specified in charter) ----------------- 6300 Bee Cave Road, Building One, Austin, TX 78746 (Address of principal executive offices)(Zip code) ----------------- Catherine L. Newell, Esquire, Vice President and Secretary DFA Investment Dimensions Group Inc., 6300 Bee Cave Road, Building One, Austin, TX 78746 (Name and address of agent for service) ----------------- Registrant's telephone number, including area code: 512-306-7400 Date of fiscal year end: October 31 Date of reporting period: October 31, 2013 ================================================================================ ITEM 1. REPORTS TO STOCKHOLDERS. [LOGO] ANNUAL REPORT year ended: October 31, 2013 DFA INVESTMENT DIMENSIONS GROUP INC. DIMENSIONAL INVESTMENT GROUP INC. THE DFA INVESTMENT TRUST COMPANY DIMENSIONAL EMERGING MARKETS VALUE FUND --------------------------------------------------- [LOGO] Dimensional Fund Advisors 6300 Bee Cave Road, Building One Austin, TX 78746 November 2013 Dear Fellow Shareholder, Our goal at Dimensional is to deliver an outstanding investment experience to our clients. Our close ties to academia help us identify leading research that can be beneficial to investors, and our team works to interpret, rigorously test, and consider the practical applicability of those ideas in carefully implemented investment strategies. This focus on research and implementation has been central to Dimensional's approach since our founding and will continue to be a key part of our offer to investors. Sincerely, /s/ David G. Booth CHAIRMAN AND CO-CHIEF EXECUTIVE OFFICER ANNUAL REPORT TABLE OF CONTENTS PAGE ---- LETTER TO SHAREHOLDERS DEFINITIONS OF ABBREVIATIONS AND FOOTNOTES........................... 1 DFA INVESTMENT DIMENSIONS GROUP INC. Performance Charts................................................ 2 Management's Discussion and Analysis.............................. 19 Disclosure of Fund Expenses....................................... 31 Disclosure of Portfolio Holdings.................................. 36 Schedules of Investments/Summary Schedules of Portfolio Holdings Enhanced U.S. Large Company Portfolio......................... 39 U.S. Large Cap Equity Portfolio............................... 42 U.S. Large Cap Value Portfolio................................ 45 U.S. Targeted Value Portfolio................................. 46 U.S. Small Cap Value Portfolio................................ 49 U.S. Core Equity 1 Portfolio.................................. 52 U.S. Core Equity 2 Portfolio.................................. 55 U.S. Vector Equity Portfolio.................................. 58 U.S. Small Cap Portfolio...................................... 61 U.S. Micro Cap Portfolio...................................... 64 DFA Real Estate Securities Portfolio.......................... 67 Large Cap International Portfolio............................. 69 International Core Equity Portfolio........................... 73 International Small Company Portfolio......................... 78 Japanese Small Company Portfolio.............................. 79 Asia Pacific Small Company Portfolio.......................... 79 United Kingdom Small Company Portfolio........................ 80 Continental Small Company Portfolio........................... 80 DFA International Real Estate Securities Portfolio............ 81 DFA Global Real Estate Securities Portfolio................... 85 DFA International Small Cap Value Portfolio................... 86 International Vector Equity Portfolio......................... 90 World ex U.S. Value Portfolio................................. 95 World ex U.S. Targeted Value Portfolio........................ 96 World ex U.S. Core Equity Portfolio........................... 97 Selectively Hedged Global Equity Portfolio.................... 98 Emerging Markets Portfolio.................................... 99 Emerging Markets Small Cap Portfolio.......................... 99 Emerging Markets Value Portfolio.............................. 99 Emerging Markets Core Equity Portfolio........................ 100 Statements of Assets and Liabilities.............................. 105 Statements of Operations.......................................... 112 Statements of Changes in Net Assets............................... 119 Financial Highlights.............................................. 129 Notes to Financial Statements..................................... 147 Report of Independent Registered Public Accounting Firm........... 174 i TABLE OF CONTENTS CONTINUED PAGE ---- DFA INVESTMENT DIMENSIONS GROUP INC. - DFA COMMODITY STRATEGY PORTFOLIO Performance Charts................................................... 175 Management's Discussion and Analysis................................. 176 Consolidated Disclosure of Fund Expenses............................. 177 Consolidated Disclosure of Portfolio Holdings........................ 178 Consolidated Schedule of Investments................................. 179 Consolidated Statement of Assets and Liabilities..................... 184 Consolidated Statement of Operations................................. 185 Consolidated Statements of Changes in Net Assets..................... 186 Consolidated Financial Highlights.................................... 187 Consolidated Notes to Financial Statements........................... 188 Report of Independent Registered Public Accounting Firm.............. 200 DIMENSIONAL INVESTMENT GROUP INC. Performance Charts................................................... 201 Management's Discussion and Analysis................................. 203 Disclosure of Fund Expenses.......................................... 206 Disclosure of Portfolio Holdings..................................... 208 Schedule of Investments/Summary Schedule of Portfolio Holdings DFA International Value Portfolio................................ 209 U.S. Large Company Portfolio..................................... 210 Statements of Assets and Liabilities................................. 213 Statements of Operations............................................. 214 Statements of Changes in Net Assets.................................. 215 Financial Highlights................................................. 216 Notes to Financial Statements........................................ 218 Report of Independent Registered Public Accounting Firm.............. 229 THE DFA INVESTMENT TRUST COMPANY Performance Charts................................................... 230 Management's Discussion and Analysis................................. 235 Disclosure of Fund Expenses.......................................... 240 Disclosure of Portfolio Holdings..................................... 242 Summary Schedules of Portfolio Holdings.............................. 244 The U.S. Large Cap Value Series.................................. 244 The DFA International Value Series............................... 247 The Japanese Small Company Series................................ 251 The Asia Pacific Small Company Series............................ 254 The United Kingdom Small Company Series.......................... 257 The Continental Small Company Series............................. 260 The Canadian Small Company Series................................ 264 The Emerging Markets Series...................................... 267 The Emerging Markets Small Cap Series............................ 271 Statements of Assets and Liabilities................................. 275 Statements of Operations............................................. 277 Statements of Changes in Net Assets.................................. 279 Financial Highlights................................................. 282 Notes to Financial Statements........................................ 287 Report of Independent Registered Public Accounting Firm.............. 296 ii TABLE OF CONTENTS CONTINUED PAGE ---- DIMENSIONAL EMERGING MARKETS VALUE FUND Performance Charts...................................... 297 Management's Discussion and Analysis.................... 298 Disclosure of Fund Expenses............................. 299 Disclosure of Portfolio Holdings........................ 300 Summary Schedule of Portfolio Holdings.................. 301 Statement of Assets and Liabilities..................... 305 Statement of Operations................................. 306 Statements of Changes in Net Assets..................... 307 Financial Highlights.................................... 308 Notes to Financial Statements........................... 309 Report of Independent Registered Public Accounting Firm. 315 FUND MANAGEMENT............................................ 316 VOTING PROXIES ON FUND PORTFOLIO SECURITIES................ 325 NOTICE TO SHAREHOLDERS..................................... 326 This report is submitted for the information of the Funds' shareholders. It is not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus. iii DFA INVESTMENT DIMENSIONS GROUP INC. DIMENSIONAL INVESTMENT GROUP INC. THE DFA INVESTMENT TRUST COMPANY DIMENSIONAL EMERGING MARKETS VALUE FUND DEFINITIONS OF ABBREVIATIONS AND FOOTNOTES SCHEDULES OF INVESTMENTS/SUMMARY SCHEDULES OF PORTFOLIO HOLDINGS ---------------------------------------------------------------- Investment Abbreviations ADR American Depositary Receipt FNMA Federal National Mortgage Association P.L.C. Public Limited Company SPDR Standard & Poor's Depository Receipts GBP British Pounds NZD New Zealand Dollars USD United States Dollars Investment Footnotes + See Note B to Financial Statements. ++ Securities have generally been fair valued. See Note B to Financial Statements. ** Calculated as a percentage of total net assets. Percentages shown parenthetically next to the category headings have been calculated as a percentage of total investments. "Other Securities" are those securities that are not among the top 50 holdings of the Fund or do not represent more than 1.0% of the net assets of the Fund. Some of the individual securities within this category may include Total or Partial Securities on Loan and/or Non-Income Producing Securities. * Non-Income Producing Securities. # Total or Partial Securities on Loan. ^ Denominated in USD, unless otherwise noted. @ Security purchased with cash proceeds from Securities on Loan. ^^ Security pledged as collateral for the Open Futures Contracts. ++ Security pledged as collateral for Swap Agreements. (o) Security is being fair valued as of October 31, 2013. (S) Affiliated Fund. FINANCIAL HIGHLIGHTS -------------------- (A) Computed using average shares outstanding. (B) Represents the combined ratios for the respective portfolio and its respective pro-rata share of its Master Fund(s). (C) Because of commencement of operations and related preliminary transaction costs, these ratios are not necessarily indicative of future ratios. (D) Non-Annualized (E) Annualized ALL STATEMENTS, SCHEDULES AND NOTES TO FINANCIAL STATEMENTS ----------------------------------------------------------- -- Amounts designated as -- are either zero or rounded to zero. REIT Real Estate Investment Trust RIC Registered Investment Company SEC Securities and Exchange Commission (a) Commencement of Operations. (b) Commencement of Operations. 1 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- ENHANCED U.S. LARGE COMPANY PORTFOLIO VS. S&P 500(R) INDEX OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] Enhanced U.S. Large Company Portfolio S&P 500/R/ Index ------------------------------------- ------------------ 10/31/2003 $10,000 $10,000 11/30/2003 10,084 10,088 12/31/2003 10,638 10,617 1/31/2004 10,830 10,812 2/29/2004 10,998 10,962 3/31/2004 10,843 10,797 4/30/2004 10,602 10,627 5/31/2004 10,734 10,773 6/30/2004 10,924 10,982 7/31/2004 10,574 10,619 8/31/2004 10,647 10,662 9/30/2004 10,753 10,777 10/31/2004 10,922 10,942 11/30/2004 11,322 11,385 12/31/2004 11,705 11,772 1/31/2005 11,399 11,485 2/28/2005 11,620 11,727 3/31/2005 11,387 11,519 4/30/2005 11,191 11,301 5/31/2005 11,546 11,660 6/30/2005 11,558 11,677 7/31/2005 11,939 12,111 8/31/2005 11,853 12,001 9/30/2005 11,926 12,098 10/31/2005 11,679 11,896 11/30/2005 12,124 12,346 12/31/2005 12,125 12,350 1/31/2006 12,450 12,677 2/28/2006 12,450 12,712 3/31/2006 12,606 12,870 4/30/2006 12,757 13,043 5/31/2006 12,380 12,667 6/30/2006 12,393 12,685 7/31/2006 12,468 12,763 8/31/2006 12,757 13,067 9/30/2006 13,084 13,403 10/31/2006 13,499 13,840 11/30/2006 13,763 14,103 12/31/2006 13,947 14,301 1/31/2007 14,145 14,518 2/28/2007 13,868 14,234 3/31/2007 14,026 14,393 4/30/2007 14,633 15,030 5/31/2007 15,134 15,555 6/30/2007 14,870 15,296 7/31/2007 14,422 14,822 8/31/2007 14,620 15,044 9/30/2007 15,163 15,607 10/31/2007 15,407 15,855 11/30/2007 14,758 15,192 12/31/2007 14,653 15,087 1/31/2008 13,735 14,182 2/29/2008 13,290 13,721 3/31/2008 13,231 13,662 4/30/2008 13,853 14,327 5/31/2008 14,046 14,513 6/30/2008 12,853 13,290 7/31/2008 12,748 13,178 8/31/2008 12,943 13,369 9/30/2008 11,751 12,177 10/31/2008 9,747 10,132 11/30/2008 9,084 9,405 12/31/2008 9,191 9,505 1/31/2009 8,421 8,704 2/28/2009 7,500 7,777 3/31/2009 8,183 8,459 4/30/2009 8,990 9,268 5/31/2009 9,527 9,786 6/30/2009 9,561 9,806 7/31/2009 10,317 10,547 8/31/2009 10,720 10,928 9/30/2009 11,142 11,336 10/31/2009 10,939 11,126 11/30/2009 11,631 11,793 12/31/2009 11,831 12,021 1/31/2010 11,424 11,588 2/28/2010 11,797 11,947 3/31/2010 12,492 12,668 4/30/2010 12,696 12,868 5/31/2010 11,696 11,841 6/30/2010 11,094 11,221 7/31/2010 11,877 12,007 8/31/2010 11,350 11,465 9/30/2010 12,365 12,488 10/31/2010 12,842 12,963 11/30/2010 12,825 12,965 12/31/2010 13,684 13,831 1/31/2011 14,025 14,159 2/28/2011 14,487 14,644 3/31/2011 14,487 14,650 4/30/2011 14,948 15,084 5/31/2011 14,811 14,913 6/30/2011 14,555 14,665 7/31/2011 14,282 14,366 8/31/2011 13,496 13,586 9/30/2011 12,539 12,631 10/31/2011 13,923 14,011 11/30/2011 13,837 13,981 12/31/2011 13,992 14,124 1/31/2012 14,648 14,756 2/29/2012 15,287 15,395 3/31/2012 15,806 15,901 4/30/2012 15,719 15,801 5/31/2012 14,769 14,852 6/30/2012 15,389 15,464 7/31/2012 15,649 15,678 8/31/2012 16,013 16,032 9/30/2012 16,424 16,446 10/31/2012 16,129 16,142 11/30/2012 16,233 16,236 12/31/2012 16,365 16,384 1/31/2013 17,204 17,232 2/28/2013 17,448 17,466 3/31/2013 18,094 18,121 4/30/2013 18,444 18,470 5/31/2013 18,863 18,903 6/30/2013 18,574 18,649 7/31/2013 19,554 19,598 Past performance is not predictive of 8/31/2013 18,976 19,030 future performance. 9/30/2013 19,571 19,627 10/31/2013 20,482 20,529 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE TEN redemption of fund shares. TOTAL RETURN YEAR YEARS YEARS ------------------------------------------------------------ The S&P data are provided by Standard 26.99% 16.01% 7.43% & Poor's Index Services Group. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- U.S. LARGE CAP EQUITY PORTFOLIO VS. RUSSELL 1000(R) INDEX JUNE 25, 2013-OCTOBER 31, 2013 [CHART] U.S. Large Cap Equity Portfolio Russell 1000/R/ Index ----------------- --------------------- 06/25/2013 $10,000 $10,000 06/30/2013 10,020 10,130 07/31/2013 10,550 10,672 Past performance is not predictive of 08/31/2013 10,270 10,378 future performance. 09/30/2013 10,630 10,740 10/31/2013 11,101 11,213 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. FROM TOTAL RETURN 06/25/2013 Russell data copyright (C) Russell ------------------------------------- Investment Group 1995-2013, all rights 11.01% reserved. -------------------------------------------------------------------------------- 2 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- U.S. LARGE CAP VALUE PORTFOLIO VS. RUSSELL 1000(R) VALUE INDEX OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] U.S. Large Cap Value Portfolio Russell 1000/R/ Value Index ------------------------------ --------------------------- 10/31/2003 $10,000 $10,000 11/30/2003 10,222 10,136 12/31/2003 10,920 10,760 1/31/2004 11,104 10,950 2/29/2004 11,391 11,184 3/31/2004 11,345 11,086 4/30/2004 11,154 10,815 5/31/2004 11,217 10,925 6/30/2004 11,552 11,183 7/31/2004 11,175 11,026 8/31/2004 11,175 11,182 9/30/2004 11,520 11,356 10/31/2004 11,654 11,544 11/30/2004 12,417 12,128 12/31/2004 12,912 12,534 1/31/2005 12,590 12,311 2/28/2005 12,970 12,719 3/31/2005 12,936 12,545 4/30/2005 12,491 12,320 5/31/2005 13,026 12,617 6/30/2005 13,291 12,755 7/31/2005 13,951 13,124 8/31/2005 13,834 13,067 9/30/2005 14,048 13,250 10/31/2005 13,672 12,914 11/30/2005 14,217 13,336 12/31/2005 14,234 13,416 1/31/2006 14,909 13,937 2/28/2006 14,856 14,022 3/31/2006 15,117 14,212 4/30/2006 15,543 14,573 5/31/2006 15,255 14,205 6/30/2006 15,387 14,295 7/31/2006 15,164 14,643 8/31/2006 15,407 14,888 9/30/2006 15,833 15,185 10/31/2006 16,460 15,682 11/30/2006 16,771 16,040 12/31/2006 17,108 16,400 1/31/2007 17,602 16,610 2/28/2007 17,338 16,351 3/31/2007 17,452 16,603 4/30/2007 18,191 17,217 5/31/2007 18,938 17,838 6/30/2007 18,630 17,421 7/31/2007 17,473 16,616 8/31/2007 17,140 16,802 9/30/2007 17,583 17,379 10/31/2007 17,678 17,381 11/30/2007 16,688 16,531 12/31/2007 16,635 16,371 1/31/2008 15,997 15,716 2/29/2008 15,502 15,057 3/31/2008 15,357 14,944 4/30/2008 16,320 15,673 5/31/2008 16,709 15,648 6/30/2008 14,877 14,150 7/31/2008 14,711 14,099 8/31/2008 15,000 14,339 9/30/2008 13,651 13,285 10/31/2008 10,575 10,985 11/30/2008 9,538 10,198 12/31/2008 9,848 10,339 1/31/2009 8,680 9,150 2/28/2009 7,461 7,928 3/31/2009 8,195 8,606 4/30/2009 9,521 9,528 5/31/2009 10,251 10,117 6/30/2009 10,127 10,042 7/31/2009 11,081 10,864 8/31/2009 11,834 11,433 9/30/2009 12,350 11,874 10/31/2009 11,819 11,511 11/30/2009 12,484 12,160 12/31/2009 12,821 12,375 1/31/2010 12,520 12,027 2/28/2010 13,061 12,407 3/31/2010 14,080 13,214 4/30/2010 14,524 13,556 5/31/2010 13,281 12,442 6/30/2010 12,277 11,742 7/31/2010 13,237 12,536 8/31/2010 12,428 12,000 9/30/2010 13,646 12,931 10/31/2010 14,149 13,319 11/30/2010 14,042 13,248 12/31/2010 15,407 14,294 1/31/2011 15,905 14,617 2/28/2011 16,762 15,156 3/31/2011 16,839 15,217 4/30/2011 17,261 15,622 5/31/2011 17,015 15,457 6/30/2011 16,706 15,140 7/31/2011 15,943 14,638 8/31/2011 14,595 13,724 9/30/2011 13,120 12,687 10/31/2011 14,931 14,139 11/30/2011 14,807 14,066 12/31/2011 14,924 14,350 1/31/2012 15,664 14,893 2/29/2012 16,569 15,486 3/31/2012 16,872 15,945 4/30/2012 16,520 15,783 5/31/2012 15,347 14,857 6/30/2012 16,171 15,595 7/31/2012 16,328 15,756 8/31/2012 16,973 16,098 9/30/2012 17,592 16,609 10/31/2012 17,639 16,528 11/30/2012 17,679 16,521 12/31/2012 18,215 16,862 1/31/2013 19,479 17,958 2/28/2013 19,726 18,216 3/31/2013 20,674 18,937 4/30/2013 20,881 19,224 5/31/2013 21,743 19,717 6/30/2013 21,492 19,543 7/31/2013 22,782 20,599 8/31/2013 22,101 19,817 Past performance is not predictive of 9/30/2013 22,754 20,314 future performance. 10/31/2013 23,904 21,203 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. AVERAGE ANNUAL ONE FIVE TEN TOTAL RETURN YEAR YEARS YEARS Russell data copyright (C) Russell -------------------------------------------------------------- Investment Group 1995-2013, all 35.52% 17.72% 9.11% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- U.S. TARGETED VALUE PORTFOLIO -- CLASS R1 VS. RUSSELL 2000(R) VALUE INDEX JANUARY 31, 2008-OCTOBER 31, 2013 [CHART] U.S. Targeted Value Portfolio - Class R1 Russell 2000/R/ Value Index -------------------------- --------------------------- 1/31/2008 $10,000 $10,000 2/29/2008 9,750 9,603 3/31/2008 9,821 9,748 4/30/2008 10,152 10,056 5/31/2008 10,613 10,400 6/30/2008 9,538 9,402 7/31/2008 9,790 9,884 8/31/2008 10,233 10,353 9/30/2008 9,575 9,868 10/31/2008 7,504 7,897 11/30/2008 6,525 6,982 12/31/2008 6,946 7,412 1/31/2009 5,999 6,353 2/28/2009 5,204 5,471 3/31/2009 5,777 5,956 4/30/2009 6,902 6,901 5/31/2009 7,137 7,051 6/30/2009 7,107 7,028 7/31/2009 7,959 7,841 8/31/2009 8,379 8,212 9/30/2009 8,844 8,624 10/31/2009 8,207 8,051 11/30/2009 8,484 8,308 12/31/2009 9,150 8,937 1/31/2010 8,943 8,675 2/28/2010 9,449 9,077 3/31/2010 10,229 9,832 4/30/2010 10,973 10,520 5/31/2010 9,981 9,631 6/30/2010 9,031 8,790 7/31/2010 9,735 9,418 8/31/2010 8,948 8,710 9/30/2010 10,044 9,645 10/31/2010 10,417 10,019 11/30/2010 10,840 10,273 12/31/2010 11,805 11,127 1/31/2011 11,883 11,133 2/28/2011 12,550 11,698 3/31/2011 12,792 11,861 4/30/2011 12,998 12,053 5/31/2011 12,678 11,837 6/30/2011 12,397 11,546 7/31/2011 11,964 11,164 8/31/2011 10,763 10,178 9/30/2011 9,425 9,067 10/31/2011 10,905 10,373 11/30/2011 10,941 10,353 12/31/2011 11,049 10,515 1/31/2012 11,719 11,214 2/29/2012 12,144 11,380 3/31/2012 12,369 11,733 4/30/2012 12,168 11,564 5/31/2012 11,260 10,857 6/30/2012 11,715 11,380 7/31/2012 11,657 11,264 8/31/2012 12,192 11,612 9/30/2012 12,577 12,025 10/31/2012 12,505 11,874 11/30/2012 12,715 11,911 12/31/2012 13,155 12,413 1/31/2013 14,059 13,152 2/28/2013 14,291 13,303 3/31/2013 14,987 13,856 4/30/2013 14,840 13,843 5/31/2013 15,567 14,256 6/30/2013 15,460 14,199 7/31/2013 16,545 15,111 Past performance is not predictive of 8/31/2013 15,941 14,443 future performance. 9/30/2013 16,826 15,277 10/31/2013 17,555 15,773 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. AVERAGE ANNUAL ONE FIVE FROM TOTAL RETURN YEAR YEARS 01/31/2008 Russell data copyright (C) Russell ------------------------------------------------------------- Investment Group 1995-2013, all 40.39% 18.53% 10.29% rights reserved. -------------------------------------------------------------------------------- 3 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- U.S. TARGETED VALUE PORTFOLIO -- CLASS R2 VS. RUSSELL 2000(R) VALUE INDEX JUNE 30, 2008-OCTOBER 31, 2013 [CHART] U.S. Targeted Value Portfolio - Class R2 Russell 2000/R/ Value Index ------------------------ --------------------------- 06/30/2008 $10,000 $10,000 07/31/2008 10,260 10,513 08/31/2008 10,720 11,012 09/30/2008 10,038 10,496 10/31/2008 7,860 8,399 11/30/2008 6,836 7,426 12/31/2008 7,274 7,883 01/31/2009 6,272 6,757 02/28/2009 5,443 5,818 03/31/2009 6,038 6,335 04/30/2009 7,216 7,340 05/31/2009 7,459 7,499 06/30/2009 7,436 7,475 07/31/2009 8,321 8,340 08/31/2009 8,768 8,735 09/30/2009 9,248 9,173 10/31/2009 8,585 8,564 11/30/2009 8,871 8,836 12/31/2009 9,568 9,505 01/31/2010 9,343 9,227 02/28/2010 9,865 9,654 03/31/2010 10,685 10,458 04/30/2010 11,453 11,189 05/31/2010 10,419 10,244 06/30/2010 9,434 9,350 07/31/2010 10,161 10,017 08/31/2010 9,341 9,264 09/30/2010 10,484 10,258 10/31/2010 10,874 10,656 11/30/2010 11,306 10,927 12/31/2010 12,308 11,834 01/31/2011 12,396 11,841 02/28/2011 13,085 12,442 03/31/2011 13,336 12,615 04/30/2011 13,544 12,820 05/31/2011 13,211 12,590 06/30/2011 12,926 12,281 07/31/2011 12,466 11,875 08/31/2011 11,214 10,826 09/30/2011 9,820 9,644 10/31/2011 11,364 11,033 11/30/2011 11,401 11,011 12/31/2011 11,510 11,183 01/31/2012 12,209 11,927 02/29/2012 12,644 12,104 03/31/2012 12,877 12,480 04/30/2012 12,667 12,299 05/31/2012 11,721 11,548 06/30/2012 12,189 12,104 07/31/2012 12,129 11,981 08/31/2012 12,686 12,350 09/30/2012 13,082 12,790 10/31/2012 13,007 12,630 11/30/2012 13,225 12,668 12/31/2012 13,677 13,202 01/31/2013 14,611 13,989 02/28/2013 14,861 14,149 03/31/2013 15,577 14,738 04/30/2013 15,424 14,723 05/31/2013 16,181 15,163 06/30/2013 16,064 15,102 07/31/2013 17,185 16,072 08/31/2013 16,548 15,362 09/30/2013 17,472 16,248 Past performance is not predictive of 10/31/2013 18,223 16,777 future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. AVERAGE ANNUAL ONE FIVE FROM TOTAL RETURN YEAR YEARS 06/30/2008 Russell data copyright (C) Russell ----------------------------------------------------------------- Investment Group 1995-2013, all 40.10% 18.32% 11.90% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- U.S. TARGETED VALUE PORTFOLIO -- INSTITUTIONAL CLASS VS. RUSSELL 2000(R) VALUE INDEX OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] U.S. Targeted Value Portfolio - Institutional Class Russell 2000/R/ Value Index --------------------------------- --------------------------- 10/31/2003 $10,000 $10,000 11/30/2003 10,413 10,384 12/31/2003 10,967 10,760 01/31/2004 11,470 11,132 02/29/2004 11,649 11,348 03/31/2004 11,749 11,505 04/30/2004 11,354 10,910 05/31/2004 11,525 11,042 06/30/2004 12,179 11,603 07/31/2004 11,590 11,069 08/31/2004 11,513 11,178 09/30/2004 12,036 11,620 10/31/2004 12,144 11,800 11/30/2004 13,262 12,847 12/31/2004 13,674 13,154 01/31/2005 13,238 12,645 02/28/2005 13,605 12,897 03/31/2005 13,477 12,631 04/30/2005 12,564 11,979 05/31/2005 13,401 12,710 06/30/2005 13,927 13,272 07/31/2005 14,781 14,027 08/31/2005 14,550 13,705 09/30/2005 14,601 13,682 10/31/2005 14,215 13,339 11/30/2005 14,876 13,880 12/31/2005 14,939 13,773 01/31/2006 16,138 14,912 02/28/2006 15,968 14,911 03/31/2006 16,629 15,633 04/30/2006 16,847 15,675 05/31/2006 16,261 15,026 06/30/2006 16,353 15,211 07/31/2006 15,850 15,000 08/31/2006 16,210 15,448 09/30/2006 16,375 15,599 10/31/2006 17,184 16,393 11/30/2006 17,773 16,860 12/31/2006 17,882 17,007 01/31/2007 18,255 17,262 02/28/2007 18,161 17,050 03/31/2007 18,301 17,256 04/30/2007 18,674 17,435 05/31/2007 19,483 18,074 06/30/2007 19,226 17,653 07/31/2007 17,833 16,150 08/31/2007 17,781 16,474 09/30/2007 17,834 16,548 10/31/2007 17,876 16,729 11/30/2007 16,601 15,475 12/31/2007 16,417 15,344 01/31/2008 15,632 14,715 02/29/2008 15,234 14,130 03/31/2008 15,364 14,343 04/30/2008 15,870 14,797 05/31/2008 16,603 15,303 06/30/2008 14,924 13,835 07/31/2008 15,312 14,544 08/31/2008 16,004 15,235 09/30/2008 14,991 14,521 10/31/2008 11,741 11,620 11/30/2008 10,214 10,274 12/31/2008 10,871 10,906 01/31/2009 9,377 9,348 02/28/2009 8,145 8,050 03/31/2009 9,033 8,764 04/30/2009 10,794 10,155 05/31/2009 11,166 10,375 06/30/2009 11,128 10,342 07/31/2009 12,454 11,538 08/31/2009 13,123 12,084 09/30/2009 13,853 12,690 10/31/2009 12,853 11,847 11/30/2009 13,281 12,224 12/31/2009 14,336 13,150 01/31/2010 14,005 12,765 02/28/2010 14,788 13,357 03/31/2010 16,019 14,468 04/30/2010 17,176 15,480 05/31/2010 15,633 14,172 06/30/2010 14,148 12,935 07/31/2010 15,251 13,858 08/31/2010 14,015 12,816 09/30/2010 15,739 14,192 10/31/2010 16,325 14,742 11/30/2010 16,978 15,117 12/31/2010 18,495 16,373 01/31/2011 18,618 16,381 02/28/2011 19,674 17,213 03/31/2011 20,052 17,452 04/30/2011 20,364 17,736 05/31/2011 19,863 17,418 06/30/2011 19,436 16,990 07/31/2011 18,757 16,428 08/31/2011 16,875 14,977 09/30/2011 14,780 13,341 10/31/2011 17,102 15,264 11/30/2011 17,158 15,234 12/31/2011 17,332 15,472 01/31/2012 18,382 16,500 02/29/2012 19,049 16,746 03/31/2012 19,407 17,265 04/30/2012 19,091 17,015 05/31/2012 17,667 15,976 06/30/2012 18,385 16,746 07/31/2012 18,295 16,575 08/31/2012 19,134 17,086 09/30/2012 19,743 17,695 10/31/2012 19,629 17,473 11/30/2012 19,959 17,526 12/31/2012 20,657 18,265 01/31/2013 22,066 19,353 02/28/2013 22,443 19,574 03/31/2013 23,536 20,389 04/30/2013 23,305 20,369 05/31/2013 24,458 20,978 06/30/2013 24,284 20,893 Past performance is not predictive of 07/31/2013 25,988 22,236 future performance. 08/31/2013 25,026 21,252 09/30/2013 26,426 22,479 The returns shown do not reflect the 10/31/2013 27,560 23,210 deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. AVERAGE ANNUAL ONE FIVE TEN TOTAL RETURN YEAR YEARS YEARS Russell data copyright (C) Russell ---------------------------------------------------------------- Investment Group 1995-2013, all 40.40% 18.61% 10.67% rights reserved. -------------------------------------------------------------------------------- 4 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- U.S. SMALL CAP VALUE PORTFOLIO VS. RUSSELL 2000(R) VALUE INDEX OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] U.S. Small Cap Value Portfolio Russell 2000/R/ Value Index ------------------------ --------------------------- 10/31/2003 $10,000 $10,000 11/30/2003 10,416 10,384 12/31/2003 10,972 10,760 01/31/2004 11,508 11,132 02/29/2004 11,671 11,348 03/31/2004 11,781 11,505 04/30/2004 11,408 10,910 05/31/2004 11,451 11,042 06/30/2004 12,217 11,603 07/31/2004 11,566 11,069 08/31/2004 11,393 11,178 09/30/2004 11,955 11,620 10/31/2004 12,070 11,800 11/30/2004 13,277 12,847 12/31/2004 13,758 13,154 01/31/2005 13,266 12,645 02/28/2005 13,625 12,897 03/31/2005 13,359 12,631 04/30/2005 12,386 11,979 05/31/2005 13,210 12,710 06/30/2005 13,762 13,272 07/31/2005 14,741 14,027 08/31/2005 14,495 13,705 09/30/2005 14,610 13,682 10/31/2005 14,183 13,339 11/30/2005 14,780 13,880 12/31/2005 14,829 13,773 01/31/2006 16,138 14,912 02/28/2006 16,082 14,911 03/31/2006 17,062 15,633 04/30/2006 17,230 15,675 05/31/2006 16,474 15,026 06/30/2006 16,482 15,211 07/31/2006 15,865 15,000 08/31/2006 16,173 15,448 09/30/2006 16,366 15,599 10/31/2006 17,255 16,393 11/30/2006 17,779 16,860 12/31/2006 18,025 17,007 01/31/2007 18,422 17,262 02/28/2007 18,379 17,050 03/31/2007 18,579 17,256 04/30/2007 18,914 17,435 05/31/2007 19,604 18,074 06/30/2007 19,301 17,653 07/31/2007 17,826 16,150 08/31/2007 17,691 16,474 09/30/2007 17,642 16,548 10/31/2007 17,839 16,729 11/30/2007 16,284 15,475 12/31/2007 16,088 15,344 01/31/2008 15,454 14,715 02/29/2008 15,015 14,130 03/31/2008 15,142 14,343 04/30/2008 15,393 14,797 05/31/2008 16,029 15,303 06/30/2008 14,410 13,835 07/31/2008 14,708 14,544 08/31/2008 15,319 15,235 09/30/2008 14,263 14,521 10/31/2008 11,106 11,620 11/30/2008 9,663 10,274 12/31/2008 10,170 10,906 01/31/2009 8,718 9,348 02/28/2009 7,610 8,050 03/31/2009 8,402 8,764 04/30/2009 10,053 10,155 05/31/2009 10,376 10,375 06/30/2009 10,413 10,342 07/31/2009 11,813 11,538 08/31/2009 12,420 12,084 09/30/2009 13,207 12,690 10/31/2009 12,212 11,847 11/30/2009 12,592 12,224 12/31/2009 13,589 13,150 01/31/2010 13,160 12,765 02/28/2010 13,970 13,357 03/31/2010 15,208 14,468 04/30/2010 16,441 15,480 05/31/2010 14,813 14,172 06/30/2010 13,310 12,935 07/31/2010 14,467 13,858 08/31/2010 13,255 12,816 09/30/2010 14,969 14,192 10/31/2010 15,593 14,742 11/30/2010 16,294 15,117 12/31/2010 17,789 16,373 01/31/2011 17,844 16,381 02/28/2011 18,964 17,213 03/31/2011 19,354 17,452 04/30/2011 19,598 17,736 05/31/2011 18,985 17,418 06/30/2011 18,642 16,990 07/31/2011 18,106 16,428 08/31/2011 16,191 14,977 09/30/2011 14,154 13,341 10/31/2011 16,394 15,264 11/30/2011 16,282 15,234 12/31/2011 16,446 15,472 01/31/2012 17,668 16,500 02/29/2012 18,229 16,746 03/31/2012 18,648 17,265 04/30/2012 18,350 17,015 05/31/2012 17,043 15,976 06/30/2012 17,790 16,746 07/31/2012 17,747 16,575 08/31/2012 18,495 17,086 09/30/2012 19,108 17,695 10/31/2012 18,951 17,473 11/30/2012 19,300 17,526 12/31/2012 20,019 18,265 01/31/2013 21,333 19,353 02/28/2013 21,707 19,574 03/31/2013 22,772 20,389 04/30/2013 22,520 20,369 05/31/2013 23,734 20,978 06/30/2013 23,568 20,893 07/31/2013 25,297 22,236 08/31/2013 24,241 21,252 09/30/2013 25,512 22,479 Past performance is not predictive of 10/31/2013 26,408 23,210 future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. AVERAGE ANNUAL ONE FIVE TEN TOTAL RETURN YEAR YEARS YEARS Russell data copyright (C) Russell -------------------------------------------------------------- Investment Group 1995-2013, all rights 39.35% 18.92% 10.20% reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- U.S. CORE EQUITY 1 PORTFOLIO VS. RUSSELL 3000(R) INDEX SEPTEMBER 15, 2005-OCTOBER 31, 2013 [CHART] U.S. Core Equity 1 Portfolio Russell 3000/R/ Index ---------------------- --------------------- 09/15/2005 $10,000 $10,000 09/30/2005 10,040 10,026 10/31/2005 9,820 9,838 11/30/2005 10,220 10,221 12/31/2005 10,224 10,229 01/31/2006 10,636 10,571 02/28/2006 10,656 10,590 03/31/2006 10,893 10,773 04/30/2006 11,024 10,890 05/31/2006 10,641 10,541 06/30/2006 10,644 10,560 07/31/2006 10,532 10,550 08/31/2006 10,785 10,808 09/30/2006 11,009 11,050 10/31/2006 11,414 11,448 11/30/2006 11,686 11,697 12/31/2006 11,828 11,837 01/31/2007 12,053 12,062 02/28/2007 11,920 11,864 03/31/2007 12,039 11,988 04/30/2007 12,489 12,467 05/31/2007 12,970 12,921 06/30/2007 12,760 12,679 07/31/2007 12,226 12,247 08/31/2007 12,349 12,423 09/30/2007 12,704 12,875 10/31/2007 12,899 13,112 11/30/2007 12,233 12,521 12/31/2007 12,159 12,446 01/31/2008 11,465 11,691 02/29/2008 11,123 11,328 03/31/2008 11,043 11,261 04/30/2008 11,594 11,824 05/31/2008 11,895 12,067 06/30/2008 10,877 11,071 07/31/2008 10,877 10,983 08/31/2008 11,117 11,153 09/30/2008 10,086 10,104 10/31/2008 8,214 8,312 11/30/2008 7,520 7,656 12/31/2008 7,718 7,802 01/31/2009 7,020 7,148 02/28/2009 6,269 6,399 03/31/2009 6,845 6,959 04/30/2009 7,674 7,692 05/31/2009 8,036 8,102 06/30/2009 8,072 8,130 07/31/2009 8,755 8,763 08/31/2009 9,076 9,076 09/30/2009 9,506 9,456 10/31/2009 9,170 9,213 11/30/2009 9,631 9,736 12/31/2009 10,020 10,014 01/31/2010 9,697 9,653 02/28/2010 10,074 9,980 03/31/2010 10,744 10,609 04/30/2010 11,078 10,838 05/31/2010 10,204 9,982 06/30/2010 9,546 9,408 07/31/2010 10,229 10,061 08/31/2010 9,677 9,587 09/30/2010 10,664 10,493 10/31/2010 11,077 10,903 11/30/2010 11,218 10,966 12/31/2010 12,035 11,709 01/31/2011 12,276 11,965 02/28/2011 12,768 12,400 03/31/2011 12,903 12,456 04/30/2011 13,254 12,827 05/31/2011 13,068 12,681 06/30/2011 12,826 12,453 07/31/2011 12,463 12,168 08/31/2011 11,594 11,438 09/30/2011 10,579 10,550 10/31/2011 11,904 11,764 11/30/2011 11,882 11,733 12/31/2011 11,959 11,829 01/31/2012 12,603 12,426 02/29/2012 13,148 12,952 03/31/2012 13,496 13,351 04/30/2012 13,363 13,264 05/31/2012 12,483 12,444 06/30/2012 12,945 12,931 07/31/2012 13,034 13,059 08/31/2012 13,415 13,385 09/30/2012 13,796 13,737 10/31/2012 13,605 13,500 11/30/2012 13,752 13,604 12/31/2012 13,981 13,771 01/31/2013 14,830 14,527 02/28/2013 15,012 14,719 03/31/2013 15,627 15,296 04/30/2013 15,797 15,546 05/31/2013 16,319 15,913 06/30/2013 16,154 15,707 07/31/2013 17,089 16,567 08/31/2013 16,610 16,105 Past performance is not predictive of 09/30/2013 17,294 16,704 future performance. 10/31/2013 18,003 17,413 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. AVERAGE ANNUAL ONE FIVE FROM TOTAL RETURN YEAR YEARS 09/15/2005 Russell data copyright (C) Russell --------------------------------------------------------- Investment Group 1995-2013, all rights 32.32% 16.99% 7.50% reserved. -------------------------------------------------------------------------------- 5 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- U.S. CORE EQUITY 2 PORTFOLIO VS. RUSSELL 3000(R) INDEX SEPTEMBER 15, 2005-OCTOBER 31, 2013 [CHART] U.S. Core Equity 2 Portfolio Russell 3000/R/ Index ------------------------ ------------------------- 09/15/2005 $10,000 $10,000 09/30/2005 10,050 10,026 10/31/2005 9,830 9,838 11/30/2005 10,240 10,221 12/31/2005 10,247 10,229 01/31/2006 10,739 10,571 02/28/2006 10,759 10,590 03/31/2006 11,016 10,773 04/30/2006 11,177 10,890 05/31/2006 10,774 10,541 06/30/2006 10,766 10,560 07/31/2006 10,645 10,550 08/31/2006 10,887 10,808 09/30/2006 11,110 11,050 10/31/2006 11,535 11,448 11/30/2006 11,827 11,697 12/31/2006 11,988 11,837 01/31/2007 12,212 12,062 02/28/2007 12,090 11,864 03/31/2007 12,218 11,988 04/30/2007 12,637 12,467 05/31/2007 13,148 12,921 06/30/2007 12,936 12,679 07/31/2007 12,331 12,247 08/31/2007 12,444 12,423 09/30/2007 12,757 12,875 10/31/2007 12,890 13,112 11/30/2007 12,155 12,521 12/31/2007 12,049 12,446 01/31/2008 11,428 11,691 02/29/2008 11,066 11,328 03/31/2008 10,955 11,261 04/30/2008 11,505 11,824 05/31/2008 11,826 12,067 06/30/2008 10,757 11,071 07/31/2008 10,788 10,983 08/31/2008 11,028 11,153 09/30/2008 10,032 10,104 10/31/2008 8,124 8,312 11/30/2008 7,388 7,656 12/31/2008 7,607 7,802 01/31/2009 6,815 7,148 02/28/2009 6,022 6,399 03/31/2009 6,615 6,959 04/30/2009 7,539 7,692 05/31/2009 7,900 8,102 06/30/2009 7,889 8,130 07/31/2009 8,603 8,763 08/31/2009 8,955 9,076 09/30/2009 9,402 9,456 10/31/2009 8,990 9,213 11/30/2009 9,397 9,736 12/31/2009 9,825 10,014 01/31/2010 9,524 9,653 02/28/2010 9,922 9,980 03/31/2010 10,631 10,609 04/30/2010 11,018 10,838 05/31/2010 10,146 9,982 06/30/2010 9,432 9,408 07/31/2010 10,124 10,061 08/31/2010 9,519 9,587 09/30/2010 10,524 10,493 10/31/2010 10,915 10,903 11/30/2010 11,089 10,966 12/31/2010 11,968 11,709 01/31/2011 12,197 11,965 02/28/2011 12,743 12,400 03/31/2011 12,897 12,456 04/30/2011 13,192 12,827 05/31/2011 12,984 12,681 06/30/2011 12,729 12,453 07/31/2011 12,302 12,168 08/31/2011 11,370 11,438 09/30/2011 10,290 10,550 10/31/2011 11,677 11,764 11/30/2011 11,633 11,733 12/31/2011 11,718 11,829 01/31/2012 12,371 12,426 02/29/2012 12,902 12,952 03/31/2012 13,213 13,351 04/30/2012 13,080 13,264 05/31/2012 12,182 12,444 06/30/2012 12,663 12,931 07/31/2012 12,730 13,059 08/31/2012 13,131 13,385 09/30/2012 13,530 13,737 10/31/2012 13,407 13,500 11/30/2012 13,530 13,604 12/31/2012 13,836 13,771 01/31/2013 14,711 14,527 02/28/2013 14,892 14,719 03/31/2013 15,517 15,296 04/30/2013 15,631 15,546 05/31/2013 16,223 15,913 06/30/2013 16,069 15,707 07/31/2013 17,040 16,567 08/31/2013 16,514 16,105 Past performance is not predictive of 09/30/2013 17,220 16,704 future performance. 10/31/2013 17,920 17,413 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. AVERAGE ANNUAL ONE FIVE FROM TOTAL RETURN YEAR YEARS 09/15/2005 Russell data copyright (C) Russell ------------------------------------------------------------- Investment Group 1995-2013, all 33.66% 17.14% 7.44% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- U.S. VECTOR EQUITY PORTFOLIO VS. RUSSELL 3000(R) INDEX DECEMBER 30, 2005-OCTOBER 31, 2013 [CHART] U.S. Vector Equity Portfolio Russell 2500/R/ Index Russell 3000/R/ Index ------------------ --------------------- --------------------- 12/30/2005 $10,000 $10,000 $10,000 12/31/2005 10,000 10,000 10,000 01/31/2006 10,810 10,707 10,334 02/28/2006 10,800 10,698 10,352 03/31/2006 11,196 11,114 10,531 04/30/2006 11,316 11,153 10,646 05/31/2006 10,865 10,626 10,305 06/30/2006 10,845 10,632 10,323 07/31/2006 10,624 10,297 10,313 08/31/2006 10,865 10,558 10,566 09/30/2006 11,050 10,687 10,802 10/31/2006 11,533 11,200 11,191 11/30/2006 11,865 11,566 11,435 12/31/2006 12,001 11,616 11,572 01/31/2007 12,237 11,930 11,792 02/28/2007 12,155 11,913 11,598 03/31/2007 12,268 12,029 11,719 04/30/2007 12,628 12,339 12,187 05/31/2007 13,152 12,855 12,631 06/30/2007 12,951 12,624 12,395 07/31/2007 12,220 11,899 11,972 08/31/2007 12,281 12,025 12,144 09/30/2007 12,496 12,308 12,587 10/31/2007 12,579 12,624 12,818 11/30/2007 11,762 11,850 12,241 12/31/2007 11,632 11,777 12,166 01/31/2008 11,081 11,057 11,429 02/29/2008 10,707 10,754 11,074 03/31/2008 10,663 10,674 11,009 04/30/2008 11,142 11,249 11,559 05/31/2008 11,517 11,783 11,796 06/30/2008 10,417 10,822 10,823 07/31/2008 10,500 10,897 10,736 08/31/2008 10,803 11,209 10,903 09/30/2008 9,892 10,095 9,878 10/31/2008 7,847 7,920 8,126 11/30/2008 6,987 7,061 7,484 12/31/2008 7,307 7,445 7,627 01/31/2009 6,417 6,775 6,987 02/28/2009 5,612 6,042 6,255 03/31/2009 6,178 6,594 6,803 04/30/2009 7,178 7,610 7,519 05/31/2009 7,486 7,842 7,921 06/30/2009 7,490 7,930 7,947 07/31/2009 8,258 8,646 8,566 08/31/2009 8,642 8,999 8,872 09/30/2009 9,093 9,521 9,244 10/31/2009 8,590 8,970 9,006 11/30/2009 8,911 9,332 9,518 12/31/2009 9,442 10,005 9,789 01/31/2010 9,173 9,670 9,436 02/28/2010 9,625 10,151 9,756 03/31/2010 10,347 10,926 10,371 04/30/2010 10,874 11,444 10,595 05/31/2010 10,003 10,592 9,758 06/30/2010 9,227 9,836 9,197 07/31/2010 9,906 10,528 9,835 08/31/2010 9,227 9,904 9,372 09/30/2010 10,243 11,037 10,257 10/31/2010 10,621 11,460 10,658 11/30/2010 10,881 11,783 10,720 12/31/2010 11,813 12,677 11,446 01/31/2011 11,976 12,847 11,696 02/28/2011 12,585 13,474 12,122 03/31/2011 12,794 13,780 12,177 04/30/2011 13,055 14,178 12,539 05/31/2011 12,805 14,008 12,396 06/30/2011 12,530 13,699 12,174 07/31/2011 12,072 13,178 11,895 08/31/2011 11,014 12,099 11,181 09/30/2011 9,822 10,792 10,314 10/31/2011 11,244 12,374 11,501 11/30/2011 11,189 12,331 11,470 12/31/2011 11,274 12,359 11,564 01/31/2012 11,967 13,180 12,147 02/29/2012 12,462 13,669 12,661 03/31/2012 12,762 13,964 13,052 04/30/2012 12,575 13,862 12,966 05/31/2012 11,661 12,915 12,165 06/30/2012 12,122 13,385 12,641 07/31/2012 12,099 13,294 12,766 08/31/2012 12,542 13,771 13,085 09/30/2012 12,947 14,130 13,429 10/31/2012 12,880 13,982 13,197 11/30/2012 13,035 14,197 13,299 12/31/2012 13,413 14,568 13,462 01/31/2013 14,342 15,564 14,201 02/28/2013 14,499 15,743 14,389 03/31/2013 15,148 16,440 14,953 04/30/2013 15,136 16,491 15,198 05/31/2013 15,798 17,000 15,556 06/30/2013 15,667 16,814 15,354 07/31/2013 16,679 17,912 16,196 08/31/2013 16,139 17,346 15,744 09/30/2013 16,932 18,340 16,329 10/31/2013 17,620 18,933 17,023 Past performance is not predictive of future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. AVERAGE ANNUAL ONE FIVE FROM TOTAL RETURN YEAR YEARS 12/30/2005 Russell data copyright (C) Russell ----------------------------------------------------------------- Investment Group 1995-2013, all 36.80% 17.56% 7.50% rights reserved. -------------------------------------------------------------------------------- 6 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- U.S. SMALL CAP PORTFOLIO VS. RUSSELL 2000(R) INDEX OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] U.S. Small Cap Portfolio Russell 2000/R/ Index ---------------------------- ---------------------- 10/31/2003 $10,000 $10,000 11/30/2003 10,364 10,355 12/31/2003 10,606 10,565 1/31/2004 11,079 11,024 2/29/2004 11,173 11,123 3/31/2004 11,230 11,226 4/30/2004 10,770 10,654 5/31/2004 10,883 10,823 6/30/2004 11,359 11,279 7/31/2004 10,545 10,520 8/31/2004 10,394 10,466 9/30/2004 10,902 10,957 10/31/2004 11,110 11,173 11/30/2004 12,083 12,142 12/31/2004 12,502 12,501 1/31/2005 12,010 11,980 2/28/2005 12,221 12,182 3/31/2005 11,868 11,834 4/30/2005 11,127 11,156 5/31/2005 11,894 11,886 6/30/2005 12,343 12,344 7/31/2005 13,187 13,126 8/31/2005 13,001 12,883 9/30/2005 13,084 12,923 10/31/2005 12,681 12,522 11/30/2005 13,296 13,130 12/31/2005 13,262 13,070 1/31/2006 14,467 14,242 2/28/2006 14,440 14,203 3/31/2006 15,102 14,892 4/30/2006 15,136 14,889 5/31/2006 14,312 14,053 6/30/2006 14,228 14,144 7/31/2006 13,682 13,683 8/31/2006 14,064 14,089 9/30/2006 14,180 14,206 10/31/2006 14,980 15,024 11/30/2006 15,356 15,419 12/31/2006 15,465 15,471 1/31/2007 15,697 15,729 2/28/2007 15,617 15,605 3/31/2007 15,781 15,772 4/30/2007 16,070 16,055 5/31/2007 16,678 16,713 6/30/2007 16,496 16,469 7/31/2007 15,502 15,343 8/31/2007 15,720 15,690 9/30/2007 15,918 15,960 10/31/2007 16,231 16,417 11/30/2007 15,023 15,239 12/31/2007 14,992 15,229 1/31/2008 13,955 14,191 2/29/2008 13,506 13,665 3/31/2008 13,555 13,722 4/30/2008 13,982 14,296 5/31/2008 14,649 14,953 6/30/2008 13,338 13,802 7/31/2008 13,758 14,313 8/31/2008 14,255 14,829 9/30/2008 13,116 13,648 10/31/2008 10,416 10,809 11/30/2008 9,144 9,530 12/31/2008 9,594 10,083 1/31/2009 8,532 8,962 2/28/2009 7,502 7,873 3/31/2009 8,274 8,576 4/30/2009 9,811 9,901 5/31/2009 10,158 10,200 6/30/2009 10,421 10,349 7/31/2009 11,503 11,346 8/31/2009 11,914 11,672 9/30/2009 12,657 12,345 10/31/2009 11,779 11,507 11/30/2009 12,079 11,868 12/31/2009 13,080 12,823 1/31/2010 12,683 12,351 2/28/2010 13,302 12,907 3/31/2010 14,392 13,958 4/30/2010 15,369 14,748 5/31/2010 14,170 13,629 6/30/2010 13,037 12,573 7/31/2010 13,976 13,437 8/31/2010 12,910 12,442 9/30/2010 14,595 13,992 10/31/2010 15,193 14,565 11/30/2010 15,831 15,070 12/31/2010 17,096 16,267 1/31/2011 17,112 16,225 2/28/2011 18,073 17,115 3/31/2011 18,590 17,558 4/30/2011 19,030 18,022 5/31/2011 18,646 17,684 6/30/2011 18,348 17,276 7/31/2011 17,706 16,652 8/31/2011 16,118 15,203 9/30/2011 14,328 13,499 10/31/2011 16,523 15,542 11/30/2011 16,467 15,485 12/31/2011 16,558 15,587 1/31/2012 17,671 16,689 2/29/2012 18,180 17,088 3/31/2012 18,654 17,526 4/30/2012 18,396 17,255 5/31/2012 17,201 16,113 6/30/2012 17,928 16,917 7/31/2012 17,782 16,683 8/31/2012 18,406 17,240 9/30/2012 19,006 17,806 10/31/2012 18,771 17,420 11/30/2012 18,990 17,512 12/31/2012 19,603 18,136 1/31/2013 20,831 19,271 2/28/2013 21,039 19,484 3/31/2013 22,055 20,383 4/30/2013 21,873 20,309 5/31/2013 22,997 21,120 6/30/2013 22,972 21,012 7/31/2013 24,628 22,483 Past performance is not predictive of 8/31/2013 23,795 21,769 future performance. 9/30/2013 25,271 23,157 10/31/2013 26,097 23,740 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. AVERAGE ANNUAL ONE FIVE TEN TOTAL RETURN YEAR YEARS YEARS Russell data copyright (C) Russell ------------------------------------------------------------ Investment Group 1995-2013, all 39.03% 20.16% 10.07% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- U.S. MICRO CAP PORTFOLIO VS. RUSSELL 2000(R) INDEX OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] U.S. Micro Cap Portfolio Russell 2000/R/ Index ---------------------------- -------------------- 10/31/2003 $10,000 $10,000 11/30/2003 10,430 10,355 12/31/2003 10,719 10,565 1/31/2004 11,338 11,024 2/29/2004 11,395 11,123 3/31/2004 11,411 11,226 4/30/2004 10,944 10,654 5/31/2004 10,944 10,823 6/30/2004 11,427 11,279 7/31/2004 10,573 10,520 8/31/2004 10,412 10,466 9/30/2004 10,934 10,957 10/31/2004 11,135 11,173 11/30/2004 12,134 12,142 12/31/2004 12,690 12,501 1/31/2005 12,169 11,980 2/28/2005 12,270 12,182 3/31/2005 11,874 11,834 4/30/2005 11,135 11,156 5/31/2005 11,807 11,886 6/30/2005 12,340 12,344 7/31/2005 13,282 13,126 8/31/2005 13,097 12,883 9/30/2005 13,177 12,923 10/31/2005 12,807 12,522 11/30/2005 13,387 13,130 12/31/2005 13,411 13,070 1/31/2006 14,637 14,242 2/28/2006 14,673 14,203 3/31/2006 15,341 14,892 4/30/2006 15,277 14,889 5/31/2006 14,378 14,053 6/30/2006 14,250 14,144 7/31/2006 13,759 13,683 8/31/2006 14,141 14,089 9/30/2006 14,220 14,206 10/31/2006 14,994 15,024 11/30/2006 15,331 15,419 12/31/2006 15,579 15,471 1/31/2007 15,757 15,729 2/28/2007 15,678 15,605 3/31/2007 15,838 15,772 4/30/2007 16,076 16,055 5/31/2007 16,583 16,713 6/30/2007 16,527 16,469 7/31/2007 15,452 15,343 8/31/2007 15,631 15,690 9/30/2007 15,862 15,960 10/31/2007 16,131 16,417 11/30/2007 14,774 15,239 12/31/2007 14,765 15,229 1/31/2008 13,636 14,191 2/29/2008 13,209 13,665 3/31/2008 13,249 13,722 4/30/2008 13,524 14,296 5/31/2008 14,062 14,953 6/30/2008 12,789 13,802 7/31/2008 13,361 14,313 8/31/2008 13,813 14,829 9/30/2008 12,795 13,648 10/31/2008 10,146 10,809 11/30/2008 8,843 9,530 12/31/2008 9,343 10,083 1/31/2009 8,230 8,962 2/28/2009 7,151 7,873 3/31/2009 7,836 8,576 4/30/2009 9,198 9,901 5/31/2009 9,513 10,200 6/30/2009 9,776 10,349 7/31/2009 10,736 11,346 8/31/2009 11,029 11,672 9/30/2009 11,664 12,345 10/31/2009 10,816 11,507 11/30/2009 11,009 11,868 12/31/2009 11,965 12,823 1/31/2010 11,614 12,351 2/28/2010 12,124 12,907 3/31/2010 13,104 13,958 4/30/2010 14,056 14,748 5/31/2010 13,013 13,629 6/30/2010 12,071 12,573 7/31/2010 12,933 13,437 8/31/2010 11,901 12,442 9/30/2010 13,348 13,992 10/31/2010 13,928 14,565 11/30/2010 14,519 15,070 12/31/2010 15,709 16,267 1/31/2011 15,537 16,225 2/28/2011 16,450 17,115 3/31/2011 16,984 17,558 4/30/2011 17,270 18,022 5/31/2011 16,939 17,684 6/30/2011 16,573 17,276 7/31/2011 16,128 16,652 8/31/2011 14,687 15,203 9/30/2011 13,134 13,499 10/31/2011 15,160 15,542 11/30/2011 15,069 15,485 12/31/2011 15,198 15,587 1/31/2012 16,255 16,689 2/29/2012 16,566 17,088 3/31/2012 17,060 17,526 4/30/2012 16,819 17,255 5/31/2012 15,646 16,113 6/30/2012 16,447 16,917 7/31/2012 16,297 16,683 8/31/2012 16,805 17,240 9/30/2012 17,510 17,806 10/31/2012 17,151 17,420 11/30/2012 17,313 17,512 12/31/2012 17,970 18,136 1/31/2013 18,992 19,271 2/28/2013 19,201 19,484 3/31/2013 20,137 20,383 4/30/2013 19,977 20,309 5/31/2013 21,011 21,120 6/30/2013 21,106 21,012 7/31/2013 22,671 22,483 Past performance is not predictive of 8/31/2013 21,883 21,769 future performance. 9/30/2013 23,426 23,157 10/31/2013 24,241 23,740 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. AVERAGE ANNUAL ONE FIVE TEN TOTAL RETURN YEAR YEARS YEARS Russell data copyright (C) Russell --------------------------------------------------------- Investment Group 1995-2013, all 41.34% 19.03% 9.26% rights reserved. -------------------------------------------------------------------------------- 7 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- DFA REAL ESTATE SECURITIES PORTFOLIO VS. S&P 500(R) INDEX, DOW JONES U.S. SELECT REIT INDEX/SM/ OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] DFA Real Estate Dow Jones U.S. Select Securities Portfolio S&P 500/R/ Index REIT Index/SM/ ------------------------ ---------------- ----------------------- 10/31/2003 $10,000 $10,000 $10,000 11/30/2003 10,450 10,088 10,441 12/31/2003 10,756 10,617 10,754 1/31/2004 11,198 10,812 11,184 2/29/2004 11,396 10,962 11,370 3/31/2004 12,048 10,797 12,054 4/30/2004 10,319 10,627 10,289 5/31/2004 11,064 10,773 11,070 6/30/2004 11,384 10,982 11,401 7/31/2004 11,431 10,619 11,458 8/31/2004 12,340 10,662 12,405 9/30/2004 12,299 10,777 12,345 10/31/2004 12,963 10,942 13,033 11/30/2004 13,527 11,385 13,614 12/31/2004 14,205 11,772 14,320 1/31/2005 13,015 11,485 13,057 2/28/2005 13,424 11,727 13,478 3/31/2005 13,220 11,519 13,274 4/30/2005 13,970 11,301 14,071 5/31/2005 14,428 11,660 14,537 6/30/2005 15,165 11,677 15,295 7/31/2005 16,268 12,111 16,461 8/31/2005 15,661 12,001 15,829 9/30/2005 15,734 12,098 15,898 10/31/2005 15,378 11,896 15,560 11/30/2005 16,071 12,346 16,283 12/31/2005 16,073 12,350 16,299 1/31/2006 17,308 12,677 17,576 2/28/2006 17,635 12,712 17,953 3/31/2006 18,548 12,870 18,872 4/30/2006 17,848 13,043 18,158 5/31/2006 17,314 12,667 17,655 6/30/2006 18,271 12,685 18,660 7/31/2006 18,898 12,763 19,322 8/31/2006 19,564 13,067 19,971 9/30/2006 19,955 13,403 20,360 10/31/2006 21,206 13,840 21,643 11/30/2006 22,214 14,103 22,676 12/31/2006 21,741 14,301 22,162 1/31/2007 23,624 14,518 24,136 2/28/2007 23,073 14,234 23,596 3/31/2007 22,500 14,393 22,991 4/30/2007 22,480 15,030 22,982 5/31/2007 22,480 15,555 22,997 6/30/2007 20,371 15,296 20,838 7/31/2007 18,767 14,822 19,203 8/31/2007 19,903 15,044 20,338 9/30/2007 20,681 15,607 21,134 10/31/2007 20,915 15,855 21,376 11/30/2007 18,781 15,192 19,298 12/31/2007 17,681 15,087 18,272 1/31/2008 17,689 14,182 18,184 2/29/2008 17,017 13,721 17,499 3/31/2008 18,087 13,662 18,662 4/30/2008 19,154 14,327 19,813 5/31/2008 19,192 14,513 19,857 6/30/2008 17,085 13,290 17,657 7/31/2008 17,580 13,178 18,167 8/31/2008 18,014 13,369 18,579 9/30/2008 17,976 12,177 18,501 10/31/2008 12,309 10,132 12,510 11/30/2008 9,460 9,405 9,438 12/31/2008 11,075 9,505 11,109 1/31/2009 9,109 8,704 9,101 2/28/2009 7,199 7,777 7,112 3/31/2009 7,454 8,459 7,341 4/30/2009 9,787 9,268 9,749 5/31/2009 10,042 9,786 10,000 6/30/2009 9,731 9,806 9,650 7/31/2009 10,752 10,547 10,655 8/31/2009 12,206 10,928 12,215 9/30/2009 13,023 11,336 13,070 10/31/2009 12,430 11,126 12,478 11/30/2009 13,283 11,793 13,336 12/31/2009 14,195 12,021 14,270 1/31/2010 13,454 11,588 13,454 2/28/2010 14,195 11,947 14,218 3/31/2010 15,638 12,668 15,671 4/30/2010 16,738 12,868 16,779 5/31/2010 15,845 11,841 15,875 6/30/2010 15,024 11,221 15,024 7/31/2010 16,507 12,007 16,509 8/31/2010 16,299 11,465 16,288 9/30/2010 17,005 12,488 17,010 10/31/2010 17,801 12,963 17,796 11/30/2010 17,449 12,965 17,450 12/31/2010 18,265 13,831 18,277 1/31/2011 18,909 14,159 18,926 2/28/2011 19,764 14,644 19,790 3/31/2011 19,468 14,650 19,500 4/30/2011 20,595 15,084 20,657 5/31/2011 20,874 14,913 20,977 6/30/2011 20,187 14,665 20,274 7/31/2011 20,518 14,366 20,643 8/31/2011 19,415 13,586 19,512 9/30/2011 17,282 12,631 17,327 10/31/2011 19,774 14,011 19,873 11/30/2011 19,026 13,981 19,091 12/31/2011 19,900 14,124 19,989 1/31/2012 21,158 14,756 21,274 2/29/2012 20,934 15,395 21,037 3/31/2012 22,011 15,901 22,139 4/30/2012 22,640 15,801 22,804 5/31/2012 21,606 14,852 21,764 6/30/2012 22,825 15,464 22,968 7/31/2012 23,275 15,678 23,405 8/31/2012 23,240 16,032 23,342 9/30/2012 22,807 16,446 22,882 10/31/2012 22,631 16,142 22,673 11/30/2012 22,553 16,236 22,560 12/31/2012 23,379 16,384 23,411 1/31/2013 24,204 17,232 24,206 2/28/2013 24,471 17,466 24,408 3/31/2013 25,145 18,121 25,058 4/30/2013 26,843 18,470 26,782 5/31/2013 25,243 18,903 25,178 6/30/2013 24,771 18,649 24,735 7/31/2013 24,986 19,598 24,925 Past performance is not predictive of 8/31/2013 23,227 19,030 23,216 future performance. 9/30/2013 23,951 19,627 23,957 10/31/2013 24,958 20,529 24,932 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. AVERAGE ANNUAL ONE FIVE TEN TOTAL RETURN YEAR YEARS YEARS The Dow Jones data are provided by S&P ---------------------------------------------------------------- Dow Jones Indices, LLC a part of McGraw 10.28% 15.18% 9.58% Hill Financial. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- LARGE CAP INTERNATIONAL PORTFOLIO VS. MSCI WORLD EX USA INDEX (NET DIVIDENDS) OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] Large Cap International MSCI World ex USA Portfolio Index (net dividends) -------------------------- -------------------- 10/31/2003 $10,000 $10,000 11/30/2003 10,216 10,227 12/31/2003 10,973 11,011 1/31/2004 11,114 11,164 2/29/2004 11,363 11,421 3/31/2004 11,448 11,478 4/30/2004 11,093 11,178 5/31/2004 11,178 11,230 6/30/2004 11,489 11,489 7/31/2004 11,059 11,139 8/31/2004 11,130 11,185 9/30/2004 11,349 11,511 10/31/2004 11,731 11,925 11/30/2004 12,473 12,718 12/31/2004 13,037 13,255 1/31/2005 12,804 12,994 2/28/2005 13,298 13,572 3/31/2005 12,985 13,264 4/30/2005 12,723 12,926 5/31/2005 12,643 12,950 6/30/2005 12,825 13,161 7/31/2005 13,216 13,586 8/31/2005 13,702 13,961 9/30/2005 14,156 14,599 10/31/2005 13,845 14,127 11/30/2005 14,060 14,501 12/31/2005 14,794 15,173 1/31/2006 15,658 16,133 2/28/2006 15,553 16,079 3/31/2006 16,127 16,589 4/30/2006 16,910 17,382 5/31/2006 16,298 16,722 6/30/2006 16,234 16,700 7/31/2006 16,408 16,857 8/31/2006 16,839 17,336 9/30/2006 16,832 17,322 10/31/2006 17,478 18,006 11/30/2006 17,996 18,543 12/31/2006 18,471 19,074 1/31/2007 18,708 19,191 2/28/2007 18,761 19,344 3/31/2007 19,280 19,840 4/30/2007 19,961 20,742 5/31/2007 20,581 21,203 6/30/2007 20,543 21,224 7/31/2007 20,155 20,931 8/31/2007 20,015 20,628 9/30/2007 21,114 21,800 10/31/2007 22,056 22,748 11/30/2007 21,269 21,858 12/31/2007 20,773 21,447 1/31/2008 19,199 19,513 2/29/2008 19,183 19,867 3/31/2008 19,116 19,583 4/30/2008 20,127 20,672 5/31/2008 20,549 20,986 6/30/2008 18,913 19,354 7/31/2008 18,224 18,665 8/31/2008 17,447 17,943 9/30/2008 15,325 15,353 10/31/2008 12,094 12,159 11/30/2008 11,367 11,500 12/31/2008 12,164 12,106 1/31/2009 10,798 10,976 2/28/2009 9,711 9,865 3/31/2009 10,458 10,515 4/30/2009 11,648 11,871 5/31/2009 13,275 13,373 6/30/2009 13,091 13,234 7/31/2009 14,348 14,477 8/31/2009 14,910 15,170 9/30/2009 15,545 15,796 10/31/2009 15,141 15,543 11/30/2009 15,704 15,927 12/31/2009 15,891 16,181 1/31/2010 15,069 15,423 2/28/2010 15,170 15,407 3/31/2010 16,126 16,399 4/30/2010 15,812 16,155 5/31/2010 14,088 14,372 6/30/2010 13,859 14,164 7/31/2010 15,290 15,473 8/31/2010 14,764 15,011 9/30/2010 16,217 16,451 10/31/2010 16,806 17,037 11/30/2010 16,070 16,315 12/31/2010 17,361 17,629 1/31/2011 17,753 18,009 2/28/2011 18,451 18,676 3/31/2011 18,028 18,302 4/30/2011 19,060 19,299 5/31/2011 18,518 18,727 6/30/2011 18,255 18,460 7/31/2011 17,883 18,156 8/31/2011 16,383 16,621 9/30/2011 14,579 14,952 10/31/2011 15,990 16,406 11/30/2011 15,588 15,648 12/31/2011 15,229 15,477 1/31/2012 16,149 16,312 2/29/2012 16,933 17,209 3/31/2012 16,903 17,082 4/30/2012 16,578 16,792 5/31/2012 14,743 14,878 6/30/2012 15,719 15,852 7/31/2012 15,765 16,050 8/31/2012 16,299 16,508 9/30/2012 16,784 17,009 10/31/2012 16,932 17,128 11/30/2012 17,274 17,488 12/31/2012 17,932 18,017 1/31/2013 18,659 18,903 2/28/2013 18,408 18,715 3/31/2013 18,658 18,863 4/30/2013 19,461 19,722 5/31/2013 18,948 19,281 6/30/2013 18,392 18,558 7/31/2013 19,406 19,546 8/31/2013 19,122 19,294 9/30/2013 20,472 20,657 10/31/2013 21,139 21,350 Past performance is not predictive of future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE TEN redemption of fund shares. TOTAL RETURN YEAR YEARS YEARS -------------------------------------------------------- MSCI data copyright MSCI 2013, all 24.85% 11.82% 7.77% rights reserved. -------------------------------------------------------------------------------- 8 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- INTERNATIONAL CORE EQUITY PORTFOLIO VS. MSCI WORLD EX USA INDEX (NET DIVIDENDS) SEPTEMBER 15, 2005-OCTOBER 31, 2013 [CHART] International Core MSCI World ex USA Equity Portfolio Index (net dividends) ------------------------ --------------------- 9/15/2005 $10,000 $10,000 9/30/2005 10,100 10,171 10/31/2005 9,860 9,842 11/30/2005 10,070 10,103 12/31/2005 10,636 10,571 1/31/2006 11,329 11,240 2/28/2006 11,339 11,202 3/31/2006 11,781 11,557 4/30/2006 12,343 12,110 5/31/2006 11,841 11,650 6/30/2006 11,703 11,635 7/31/2006 11,763 11,744 8/31/2006 12,108 12,078 9/30/2006 12,173 12,068 10/31/2006 12,652 12,545 11/30/2006 13,097 12,919 12/31/2006 13,502 13,289 1/31/2007 13,749 13,370 2/28/2007 13,821 13,477 3/31/2007 14,258 13,822 4/30/2007 14,792 14,451 5/31/2007 15,203 14,772 6/30/2007 15,112 14,787 7/31/2007 14,852 14,583 8/31/2007 14,571 14,372 9/30/2007 15,193 15,188 10/31/2007 15,913 15,848 11/30/2007 15,040 15,228 12/31/2007 14,649 14,942 1/31/2008 13,545 13,595 2/29/2008 13,566 13,841 3/31/2008 13,629 13,644 4/30/2008 14,192 14,402 5/31/2008 14,426 14,621 6/30/2008 13,086 13,484 7/31/2008 12,567 13,004 8/31/2008 12,091 12,501 9/30/2008 10,548 10,696 10/31/2008 8,158 8,471 11/30/2008 7,666 8,012 12/31/2008 8,202 8,434 1/31/2009 7,312 7,647 2/28/2009 6,544 6,873 3/31/2009 7,095 7,326 4/30/2009 8,164 8,271 5/31/2009 9,398 9,317 6/30/2009 9,319 9,220 7/31/2009 10,246 10,086 8/31/2009 10,815 10,569 9/30/2009 11,340 11,005 10/31/2009 10,997 10,829 11/30/2009 11,289 11,097 12/31/2009 11,424 11,273 1/31/2010 10,940 10,745 2/28/2010 10,951 10,734 3/31/2010 11,769 11,425 4/30/2010 11,712 11,255 5/31/2010 10,336 10,013 6/30/2010 10,163 9,868 7/31/2010 11,238 10,780 8/31/2010 10,781 10,458 9/30/2010 11,933 11,461 10/31/2010 12,369 11,869 11/30/2010 11,876 11,367 12/31/2010 13,013 12,282 1/31/2011 13,349 12,547 2/28/2011 13,799 13,012 3/31/2011 13,557 12,751 4/30/2011 14,287 13,446 5/31/2011 13,847 13,047 6/30/2011 13,602 12,861 7/31/2011 13,297 12,649 8/31/2011 12,122 11,580 9/30/2011 10,709 10,417 10/31/2011 11,690 11,430 11/30/2011 11,336 10,902 12/31/2011 11,047 10,783 1/31/2012 11,858 11,365 2/29/2012 12,466 11,990 3/31/2012 12,465 11,901 4/30/2012 12,190 11,699 5/31/2012 10,732 10,365 6/30/2012 11,390 11,044 7/31/2012 11,378 11,182 8/31/2012 11,779 11,501 9/30/2012 12,197 11,850 10/31/2012 12,332 11,933 11/30/2012 12,539 12,184 12/31/2012 13,117 12,552 1/31/2013 13,683 13,170 2/28/2013 13,535 13,039 3/31/2013 13,699 13,142 4/30/2013 14,228 13,741 5/31/2013 13,908 13,433 6/30/2013 13,483 12,930 7/31/2013 14,321 13,617 8/31/2013 14,171 13,442 9/30/2013 15,255 14,392 10/31/2013 15,782 14,875 Past performance is not predictive of future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE FROM redemption of fund shares. TOTAL RETURN YEAR YEARS 09/15/2005 --------------------------------------------------------- MSCI data copyright MSCI 2013, all 27.98% 14.11% 5.78% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- INTERNATIONAL SMALL COMPANY PORTFOLIO VS. MSCI WORLD EX USA SMALL CAP INDEX (NET DIVIDENDS) OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] International Small MSCI World ex USA Small Company Portfolio Cap Index (net dividends) -------------------------- ------------------------- 10/31/03 $10,000 $10,000 11/30/03 10,055 10,009 12/31/03 10,624 10,620 1/31/04 11,218 11,076 2/29/04 11,553 11,412 3/31/04 12,017 11,852 4/30/04 11,655 11,428 5/31/04 11,525 11,305 6/30/04 12,062 11,876 7/31/04 11,621 11,352 8/31/04 11,724 11,411 9/30/04 12,003 11,723 10/31/04 12,389 12,157 11/30/04 13,283 13,129 12/31/04 13,909 13,741 1/31/05 14,239 13,953 2/28/05 14,869 14,546 3/31/05 14,607 14,309 4/30/05 14,258 13,906 5/31/05 14,016 13,939 6/30/05 14,369 14,309 7/31/05 14,888 14,930 8/31/05 15,544 15,388 9/30/05 15,915 16,012 10/31/05 15,600 15,429 11/30/05 15,905 15,943 12/31/05 16,963 17,183 1/31/06 18,135 18,408 2/28/06 18,021 18,177 3/31/06 18,851 19,031 4/30/06 19,743 19,917 5/31/06 18,747 18,816 6/30/06 18,387 18,358 7/31/06 18,188 17,910 8/31/06 18,670 18,433 9/30/06 18,808 18,384 10/31/06 19,555 19,114 11/30/06 20,439 19,936 12/31/06 21,183 20,526 1/31/07 21,775 20,945 2/28/07 22,083 21,312 3/31/07 22,909 22,018 4/30/07 23,666 22,868 5/31/07 24,150 23,205 6/30/07 24,111 23,155 7/31/07 24,122 23,012 8/31/07 23,190 21,799 9/30/07 23,700 22,291 10/31/07 24,980 23,796 11/30/07 23,155 21,840 12/31/07 22,382 21,200 1/31/08 20,679 19,145 2/29/08 21,203 20,054 3/31/08 21,231 19,832 4/30/08 21,684 20,315 5/31/08 22,257 20,725 6/30/08 20,609 19,125 7/31/08 19,618 18,161 8/31/08 18,844 17,489 9/30/08 15,987 14,413 10/31/08 12,242 10,855 11/30/08 11,610 10,329 12/31/08 12,563 11,018 1/31/09 11,570 10,378 2/28/09 10,516 9,430 3/31/09 11,212 10,036 4/30/09 12,698 11,583 5/31/09 14,589 13,297 6/30/09 14,742 13,456 7/31/09 15,848 14,538 8/31/09 16,854 15,658 9/30/09 17,750 16,538 10/31/09 17,426 16,283 11/30/09 17,663 16,410 12/31/09 17,834 16,617 1/31/10 17,559 16,398 2/28/10 17,534 16,305 3/31/10 18,786 17,517 4/30/10 19,074 17,863 5/31/10 16,817 15,717 6/30/10 16,778 15,569 7/31/10 18,311 16,904 8/31/10 17,766 16,465 9/30/10 19,720 18,333 10/31/10 20,495 19,089 11/30/10 19,923 18,589 12/31/10 22,099 20,690 1/31/11 22,369 20,799 2/28/11 23,051 21,390 3/31/11 23,015 21,370 4/30/11 24,109 22,430 5/31/11 23,439 21,809 6/30/11 22,964 21,337 7/31/11 22,742 21,220 8/31/11 20,960 19,544 9/30/11 18,483 17,300 10/31/11 19,895 18,705 11/30/11 19,267 17,765 12/31/11 18,707 17,419 1/31/12 20,302 18,858 2/29/12 21,329 19,926 3/31/12 21,412 19,794 4/30/12 21,155 19,691 5/31/12 18,693 17,377 6/30/12 19,424 17,977 7/31/12 19,369 18,116 8/31/12 20,041 18,636 9/30/12 20,877 19,519 10/31/12 21,015 19,614 11/30/12 21,194 19,715 12/31/12 22,234 20,464 1/31/13 23,211 21,449 2/28/13 23,198 21,525 3/31/13 23,619 21,945 4/30/13 24,247 22,582 5/31/13 23,717 22,052 6/30/13 23,088 21,180 7/31/13 24,616 22,504 8/31/13 24,531 22,464 9/30/13 26,551 24,350 Past performance is not predictive of 10/31/13 27,457 25,070 future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE TEN redemption of fund shares. TOTAL RETURN YEAR YEARS YEARS ----------------------------------------------------------- MSCI data copyright MSCI 2013, all 30.66% 17.53% 10.63% rights reserved. -------------------------------------------------------------------------------- 9 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- JAPANESE SMALL COMPANY PORTFOLIO VS. MSCI JAPAN SMALL CAP INDEX (NET DIVIDENDS) OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] Japanese Small MSCI Japan Small Cap Company Portfolio Index (net dividends) -------------------------- --------------------- 10/31/2003 $10,000 $10,000 11/30/2003 9,375 9,313 12/31/2003 9,926 9,979 1/31/2004 10,394 10,342 2/29/2004 10,456 10,315 3/31/2004 12,558 12,206 4/30/2004 12,152 11,818 5/31/2004 11,569 11,231 6/30/2004 12,664 12,412 7/31/2004 11,869 11,395 8/31/2004 12,046 11,514 9/30/2004 11,754 11,167 10/31/2004 11,984 11,373 11/30/2004 12,355 11,868 12/31/2004 12,945 12,443 1/31/2005 13,463 12,866 2/28/2005 13,955 13,112 3/31/2005 14,035 13,081 4/30/2005 13,651 12,975 5/31/2005 13,410 12,736 6/30/2005 13,662 12,908 7/31/2005 13,948 13,274 8/31/2005 14,708 13,729 9/30/2005 15,308 14,587 10/31/2005 15,773 14,879 11/30/2005 16,077 15,515 12/31/2005 17,902 17,613 1/31/2006 18,658 18,174 2/28/2006 17,533 16,991 3/31/2006 18,307 17,753 4/30/2006 18,658 17,841 5/31/2006 17,335 16,410 6/30/2006 16,670 15,896 7/31/2006 15,874 14,845 8/31/2006 16,127 15,240 9/30/2006 15,841 14,906 10/31/2006 15,714 14,811 11/30/2006 15,606 14,686 12/31/2006 15,741 14,772 1/31/2007 16,060 15,059 2/28/2007 16,707 15,653 3/31/2007 16,570 15,509 4/30/2007 16,343 15,243 5/31/2007 16,005 14,880 6/30/2007 16,263 14,978 7/31/2007 16,346 14,974 8/31/2007 15,658 14,062 9/30/2007 15,636 13,976 10/31/2007 15,737 14,482 11/30/2007 15,370 13,873 12/31/2007 14,398 13,043 1/31/2008 14,001 12,402 2/29/2008 13,881 12,538 3/31/2008 14,153 12,542 4/30/2008 14,255 12,698 5/31/2008 14,773 13,089 6/30/2008 14,072 12,286 7/31/2008 13,679 11,883 8/31/2008 12,923 11,358 9/30/2008 12,074 10,249 10/31/2008 11,195 9,167 11/30/2008 11,485 9,542 12/31/2008 12,654 10,285 1/31/2009 11,785 9,746 2/28/2009 10,246 8,465 3/31/2009 10,720 8,763 4/30/2009 11,146 9,212 5/31/2009 12,517 10,339 6/30/2009 13,345 10,997 7/31/2009 13,621 11,272 8/31/2009 14,337 11,904 9/30/2009 14,182 11,857 10/31/2009 13,667 11,423 11/30/2009 13,113 11,014 12/31/2009 13,059 10,809 1/31/2010 13,232 11,042 2/28/2010 13,482 11,252 3/31/2010 14,167 11,764 4/30/2010 14,580 12,082 5/31/2010 13,359 11,244 6/30/2010 13,565 11,294 7/31/2010 13,798 11,431 8/31/2010 13,420 11,189 9/30/2010 14,013 11,646 10/31/2010 13,712 11,550 11/30/2010 14,051 11,775 12/31/2010 15,344 12,964 1/31/2011 15,686 13,118 2/28/2011 16,409 13,645 3/31/2011 15,383 12,803 4/30/2011 15,305 12,815 5/31/2011 15,051 12,625 6/30/2011 15,800 13,095 7/31/2011 16,372 13,639 8/31/2011 15,928 13,081 9/30/2011 15,842 13,093 10/31/2011 15,023 12,610 11/30/2011 15,270 12,269 12/31/2011 15,189 12,460 1/31/2012 16,144 12,971 2/29/2012 16,163 13,112 3/31/2012 16,621 13,462 4/30/2012 16,273 13,267 5/31/2012 14,911 12,166 6/30/2012 15,700 12,685 7/31/2012 15,168 12,486 8/31/2012 15,168 12,415 9/30/2012 15,385 12,758 10/31/2012 15,054 12,482 11/30/2012 15,265 12,568 12/31/2012 15,822 12,960 1/31/2013 16,318 13,445 2/28/2013 16,713 13,900 3/31/2013 17,989 15,023 4/30/2013 18,941 16,011 5/31/2013 17,392 14,743 6/30/2013 17,544 14,702 7/31/2013 17,959 14,942 8/31/2013 17,554 14,740 9/30/2013 19,529 16,418 10/31/2013 19,579 16,351 Past performance is not predictive of future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE TEN redemption of fund shares. TOTAL RETURN YEAR YEARS YEARS -------------------------------------------------------- MSCI data copyright MSCI 2013, all 30.06% 11.83% 6.95% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- ASIA PACIFIC SMALL COMPANY PORTFOLIO VS. MSCI PACIFIC EX JAPAN SMALL CAP INDEX (NET DIVIDENDS) OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] Asia Pacific Small MSCI Pacific ex Japan Small Cap Company Portfolio Index (net dividends) -------------------------- --------------------------------- 10/31/2003 $10,000 $10,000 11/30/2003 10,075 9,956 12/31/2003 10,520 10,608 1/31/2004 11,178 11,042 2/29/2004 11,507 11,376 3/31/2004 11,143 11,398 4/30/2004 10,329 10,754 5/31/2004 10,251 10,705 6/30/2004 10,287 10,718 7/31/2004 10,470 11,122 8/31/2004 10,715 11,489 9/30/2004 11,372 12,174 10/31/2004 11,908 12,954 11/30/2004 12,768 13,951 12/31/2004 13,056 14,540 1/31/2005 13,352 14,667 2/28/2005 13,729 15,134 3/31/2005 13,262 14,704 4/30/2005 12,813 14,465 5/31/2005 12,517 14,651 6/30/2005 13,080 15,452 7/31/2005 13,514 16,095 8/31/2005 13,867 16,082 9/30/2005 14,374 16,893 10/31/2005 13,556 15,901 11/30/2005 13,892 16,504 12/31/2005 14,100 16,828 1/31/2006 15,048 17,791 2/28/2006 15,262 17,969 3/31/2006 16,034 18,730 4/30/2006 16,946 19,938 5/31/2006 15,988 18,920 6/30/2006 15,876 18,690 7/31/2006 16,176 18,882 8/31/2006 16,570 19,498 9/30/2006 16,738 19,820 10/31/2006 18,105 21,202 11/30/2006 19,105 22,491 12/31/2006 19,643 23,330 1/31/2007 20,153 23,923 2/28/2007 20,682 24,379 3/31/2007 21,758 25,637 4/30/2007 23,278 27,414 5/31/2007 25,258 28,491 6/30/2007 26,288 29,231 7/31/2007 26,695 29,224 8/31/2007 24,690 27,343 9/30/2007 27,579 29,769 10/31/2007 29,986 31,804 11/30/2007 27,998 29,249 12/31/2007 27,511 28,847 1/31/2008 24,739 24,981 2/29/2008 25,489 26,465 3/31/2008 24,250 24,796 4/30/2008 25,936 26,455 5/31/2008 27,067 26,740 6/30/2008 24,392 23,749 7/31/2008 22,950 22,656 8/31/2008 21,337 20,816 9/30/2008 17,670 16,752 10/31/2008 11,787 10,835 11/30/2008 10,656 9,653 12/31/2008 11,818 10,774 1/31/2009 10,356 9,588 2/28/2009 9,786 8,993 3/31/2009 11,303 10,281 4/30/2009 12,986 12,122 5/31/2009 16,342 15,028 6/30/2009 16,460 15,451 7/31/2009 18,831 17,683 8/31/2009 19,691 18,591 9/30/2009 21,219 20,149 10/31/2009 21,682 20,632 11/30/2009 22,693 21,225 12/31/2009 23,286 22,073 1/31/2010 22,019 20,661 2/28/2010 22,402 20,920 3/31/2010 24,244 22,645 4/30/2010 24,564 23,278 5/31/2010 21,160 19,763 6/30/2010 20,894 19,650 7/31/2010 23,207 21,650 8/31/2010 23,175 21,602 9/30/2010 26,690 24,845 10/31/2010 27,830 25,948 11/30/2010 27,450 25,601 12/31/2010 30,135 28,185 1/31/2011 29,483 27,365 2/28/2011 29,663 27,515 3/31/2011 30,286 28,360 4/30/2011 31,557 29,507 5/31/2011 30,623 28,831 6/30/2011 29,582 27,806 7/31/2011 30,060 28,216 8/31/2011 27,956 26,254 9/30/2011 22,737 21,480 10/31/2011 26,274 25,000 11/30/2011 25,567 23,295 12/31/2011 24,070 22,548 1/31/2012 26,552 24,889 2/29/2012 28,558 26,824 3/31/2012 28,131 25,984 4/30/2012 28,012 26,125 5/31/2012 24,514 22,734 6/30/2012 25,022 23,052 7/31/2012 25,383 23,810 8/31/2012 26,227 24,191 9/30/2012 27,518 25,477 10/31/2012 28,136 26,003 11/30/2012 28,523 26,259 12/31/2012 29,852 26,918 1/31/2013 31,342 28,345 2/28/2013 31,468 28,681 3/31/2013 31,605 28,754 4/30/2013 31,067 28,526 5/31/2013 28,750 26,426 6/30/2013 26,722 24,166 7/31/2013 28,024 25,132 Past performance is not predictive of 8/31/2013 28,237 25,350 future performance. 9/30/2013 30,215 27,300 10/31/2013 31,079 27,778 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE TEN redemption of fund shares. TOTAL RETURN YEAR YEARS YEARS ---------------------------------------------------------------- MSCI data copyright MSCI 2013, all 10.46% 21.40% 12.01% rights reserved. -------------------------------------------------------------------------------- 10 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- UNITED KINGDOM SMALL COMPANY PORTFOLIO VS. MSCI UK SMALL CAP INDEX (NET DIVIDENDS) OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] United Kingdom Small MSCI UK Small Cap Company Portfolio Index (net dividends) -------------------------- --------------------- 10/31/2003 $10,000 $10,000 11/30/2003 10,047 10,083 12/31/2003 10,602 10,649 1/31/2004 11,391 11,551 2/29/2004 12,043 12,334 3/31/2004 11,880 12,287 4/30/2004 11,445 11,859 5/31/2004 11,461 11,852 6/30/2004 11,849 12,264 7/31/2004 11,404 11,709 8/31/2004 11,322 11,548 9/30/2004 11,640 11,928 10/31/2004 12,004 12,382 11/30/2004 12,966 13,383 12/31/2004 13,499 14,155 1/31/2005 13,877 14,473 2/28/2005 14,348 14,815 3/31/2005 14,019 14,630 4/30/2005 13,542 13,969 5/31/2005 13,274 13,845 6/30/2005 13,513 14,058 7/31/2005 13,777 14,476 8/31/2005 14,551 15,176 9/30/2005 14,377 15,203 10/31/2005 13,970 14,740 11/30/2005 14,566 15,475 12/31/2005 15,203 16,144 1/31/2006 16,388 17,459 2/28/2006 16,608 17,732 3/31/2006 16,879 18,091 4/30/2006 17,723 19,049 5/31/2006 17,358 18,626 6/30/2006 17,337 18,468 7/31/2006 17,457 18,324 8/31/2006 18,186 18,983 9/30/2006 18,710 19,540 10/31/2006 19,761 20,659 11/30/2006 20,997 21,998 12/31/2006 22,136 23,030 1/31/2007 22,278 22,976 2/28/2007 22,271 23,048 3/31/2007 23,305 24,001 4/30/2007 24,102 25,193 5/31/2007 24,419 25,355 6/30/2007 23,518 24,617 7/31/2007 23,382 24,478 8/31/2007 23,239 23,581 9/30/2007 22,430 22,245 10/31/2007 24,215 24,689 11/30/2007 21,404 21,832 12/31/2007 20,270 20,736 1/31/2008 18,901 19,068 2/29/2008 19,167 19,714 3/31/2008 19,088 19,466 4/30/2008 19,405 19,828 5/31/2008 19,456 19,922 6/30/2008 17,901 18,560 7/31/2008 17,266 17,819 8/31/2008 16,975 17,353 9/30/2008 14,349 14,162 10/31/2008 10,495 10,232 11/30/2008 9,745 9,283 12/31/2008 9,522 9,048 1/31/2009 9,292 8,998 2/28/2009 8,906 8,700 3/31/2009 9,288 9,205 4/30/2009 11,230 11,319 5/31/2009 12,376 12,515 6/30/2009 12,430 12,603 7/31/2009 13,506 13,763 8/31/2009 14,552 15,090 9/30/2009 14,974 15,438 10/31/2009 14,989 15,460 11/30/2009 14,936 15,299 12/31/2009 15,243 15,677 1/31/2010 15,091 15,604 2/28/2010 14,572 14,905 3/31/2010 15,787 16,219 4/30/2010 16,360 16,866 5/31/2010 14,503 14,839 6/30/2010 14,777 14,903 7/31/2010 16,767 16,696 8/31/2010 16,142 16,242 9/30/2010 17,860 18,032 10/31/2010 18,791 18,801 11/30/2010 17,860 18,018 12/31/2010 19,676 19,903 1/31/2011 19,957 20,095 2/28/2011 20,552 20,625 3/31/2011 20,160 20,269 4/30/2011 21,940 22,127 5/31/2011 21,799 21,847 6/30/2011 21,103 21,111 7/31/2011 20,953 21,053 8/31/2011 18,856 18,905 9/30/2011 16,947 16,912 10/31/2011 18,738 18,760 11/30/2011 18,162 18,032 12/31/2011 17,591 17,430 1/31/2012 19,138 19,198 2/29/2012 20,701 20,981 3/31/2012 21,137 21,050 4/30/2012 21,496 21,408 5/31/2012 19,068 18,756 6/30/2012 19,995 19,649 7/31/2012 20,325 20,007 8/31/2012 21,431 21,066 9/30/2012 22,526 22,190 10/31/2012 23,015 22,649 11/30/2012 23,155 22,657 12/31/2012 24,420 23,700 1/31/2013 24,847 24,323 2/28/2013 25,065 24,460 3/31/2013 25,807 25,119 4/30/2013 26,452 25,747 5/31/2013 26,686 26,095 6/30/2013 26,098 25,154 7/31/2013 28,295 27,249 Past performance is not predictive of 8/31/2013 28,490 27,622 future performance. 9/30/2013 30,406 29,695 10/31/2013 31,487 30,741 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE TEN redemption of fund shares. TOTAL RETURN YEAR YEARS YEARS ------------------------------------------------------ MSCI data copyright MSCI 2013, all 36.81% 24.57% 12.15% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- CONTINENTAL SMALL COMPANY PORTFOLIO VS. MSCI EUROPE EX UK SMALL CAP INDEX (NET DIVIDENDS) OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] Continental MSCI Europe ex Small Company Portfolio UK Small Cap Index (net dividends) ------------------------ ---------------------------------- 10/31/2003 $10,000 $10,000 11/30/2003 10,518 10,532 12/31/2003 11,163 11,083 1/31/2004 11,705 11,641 2/29/2004 12,087 12,033 3/31/2004 11,836 11,618 4/30/2004 11,695 11,435 5/31/2004 11,816 11,471 6/30/2004 12,173 11,881 7/31/2004 11,770 11,403 8/31/2004 11,840 11,439 9/30/2004 12,451 12,077 10/31/2004 12,917 12,589 11/30/2004 14,294 13,986 12/31/2004 15,028 14,686 1/31/2005 15,241 14,850 2/28/2005 16,209 15,891 3/31/2005 15,762 15,485 4/30/2005 15,336 15,029 5/31/2005 15,368 15,243 6/30/2005 15,785 15,731 7/31/2005 16,758 16,810 8/31/2005 17,314 17,288 9/30/2005 17,752 17,878 10/31/2005 16,873 16,644 11/30/2005 16,926 16,856 12/31/2005 17,793 17,833 1/31/2006 19,499 19,823 2/28/2006 20,048 20,383 3/31/2006 21,337 21,700 4/30/2006 22,805 23,237 5/31/2006 21,695 22,043 6/30/2006 21,293 21,541 7/31/2006 21,233 21,305 8/31/2006 21,787 21,806 9/30/2006 22,070 22,035 10/31/2006 23,171 23,213 11/30/2006 24,768 24,837 12/31/2006 25,946 26,009 1/31/2007 27,143 26,842 2/28/2007 27,168 26,957 3/31/2007 28,750 28,390 4/30/2007 30,258 30,108 5/31/2007 30,832 30,633 6/30/2007 30,486 30,340 7/31/2007 30,310 30,118 8/31/2007 29,217 28,755 9/30/2007 29,859 29,327 10/31/2007 31,299 31,082 11/30/2007 28,975 28,858 12/31/2007 28,398 28,274 1/31/2008 25,689 24,869 2/29/2008 26,786 26,374 3/31/2008 27,629 26,910 4/30/2008 27,947 27,370 5/31/2008 28,475 27,796 6/30/2008 26,065 25,227 7/31/2008 24,681 23,795 8/31/2008 23,996 23,145 9/30/2008 19,813 18,353 10/31/2008 14,521 13,189 11/30/2008 13,384 12,096 12/31/2008 14,779 13,213 1/31/2009 13,100 12,027 2/28/2009 11,962 10,968 3/31/2009 12,821 11,816 4/30/2009 14,908 14,275 5/31/2009 17,077 16,407 6/30/2009 16,856 16,196 7/31/2009 18,193 17,650 8/31/2009 19,710 19,462 9/30/2009 21,392 21,327 10/31/2009 20,783 20,745 11/30/2009 21,405 21,171 12/31/2009 21,331 21,267 1/31/2010 20,970 20,983 2/28/2010 20,526 20,386 3/31/2010 22,039 22,039 4/30/2010 21,831 21,900 5/31/2010 18,720 18,512 6/30/2010 18,588 18,236 7/31/2010 20,815 20,420 8/31/2010 19,857 19,450 9/30/2010 22,600 22,451 10/31/2010 23,869 23,891 11/30/2010 22,008 22,081 12/31/2010 24,866 25,173 1/31/2011 25,561 25,742 2/28/2011 25,986 26,179 3/31/2011 26,865 27,062 4/30/2011 28,666 28,952 5/31/2011 27,687 27,848 6/30/2011 26,788 26,949 7/31/2011 25,263 25,313 8/31/2011 22,673 22,669 9/30/2011 19,238 19,263 10/31/2011 21,221 21,374 11/30/2011 19,802 19,704 12/31/2011 19,028 19,034 1/31/2012 20,830 20,922 2/29/2012 22,151 22,528 3/31/2012 22,195 22,345 4/30/2012 21,672 21,973 5/31/2012 18,707 18,960 6/30/2012 19,510 19,894 7/31/2012 19,317 19,823 8/31/2012 20,179 20,687 9/30/2012 21,241 21,801 10/31/2012 21,613 22,177 11/30/2012 21,881 22,516 12/31/2012 23,202 23,731 1/31/2013 24,953 25,663 2/28/2013 24,699 25,584 3/31/2013 24,145 24,927 4/30/2013 25,118 25,895 5/31/2013 25,582 26,483 6/30/2013 24,728 25,304 7/31/2013 26,873 27,605 Past performance is not predictive of 8/31/2013 26,904 27,554 future performance. 9/30/2013 29,242 29,910 10/31/2013 30,905 31,711 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE TEN redemption of fund shares. TOTAL RETURN YEAR YEARS YEARS ----------------------------------------------------------------- MSCI data copyright MSCI 2013, all 42.99% 16.31% 11.94% rights reserved. -------------------------------------------------------------------------------- 11 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- DFA INTERNATIONAL REAL ESTATE SECURITIES PORTFOLIO VS. S&P GLOBAL EX U.S. REIT INDEX (NET DIVIDENDS) MARCH 1, 2007-OCTOBER 31, 2013 [CHART] DFA International S&P Global ex Real Estate Securities Portfolio U.S. REIT Index (net dividends) --------------------------------- ------------------------------- 3/1/2007 $10,000 $10,000 3/31/2007 10,480 10,343 4/30/2007 10,570 10,492 5/31/2007 10,780 10,647 6/30/2007 10,061 9,995 7/31/2007 9,459 9,513 8/31/2007 9,679 9,662 9/30/2007 10,130 10,149 10/31/2007 10,211 10,249 11/30/2007 9,462 9,433 12/31/2007 8,995 9,061 1/31/2008 8,627 8,529 2/29/2008 8,585 8,635 3/31/2008 8,606 8,552 4/30/2008 8,659 8,703 5/31/2008 8,332 8,348 6/30/2008 7,450 7,505 7/31/2008 7,215 7,301 8/31/2008 6,970 7,088 9/30/2008 6,457 6,368 10/31/2008 4,461 4,537 11/30/2008 4,152 4,234 12/31/2008 4,325 4,363 1/31/2009 3,873 3,947 2/28/2009 3,356 3,433 3/31/2009 3,587 3,636 4/30/2009 3,950 4,053 5/31/2009 4,479 4,503 6/30/2009 4,578 4,610 7/31/2009 4,985 5,022 8/31/2009 5,535 5,634 9/30/2009 5,887 6,017 10/31/2009 5,766 5,922 11/30/2009 5,832 5,926 12/31/2009 5,925 6,027 1/31/2010 5,704 5,831 2/28/2010 5,728 5,809 3/31/2010 5,925 6,011 4/30/2010 5,974 6,082 5/31/2010 5,347 5,414 6/30/2010 5,360 5,435 7/31/2010 5,987 6,026 8/31/2010 5,999 6,044 9/30/2010 6,577 6,624 10/31/2010 6,859 6,894 11/30/2010 6,429 6,471 12/31/2010 6,997 7,046 1/31/2011 7,025 7,045 2/28/2011 7,318 7,329 3/31/2011 7,332 7,348 4/30/2011 7,792 7,804 5/31/2011 7,750 7,761 6/30/2011 7,694 7,685 7/31/2011 7,569 7,575 8/31/2011 7,262 7,261 9/30/2011 6,328 6,367 10/31/2011 6,830 6,889 11/30/2011 6,691 6,606 12/31/2011 6,455 6,440 1/31/2012 6,897 6,857 2/29/2012 7,133 7,133 3/31/2012 7,221 7,159 4/30/2012 7,369 7,331 5/31/2012 6,941 6,853 6/30/2012 7,398 7,322 7/31/2012 7,737 7,719 8/31/2012 7,855 7,792 9/30/2012 8,032 8,000 10/31/2012 8,356 8,295 11/30/2012 8,415 8,352 12/31/2012 8,611 8,495 1/31/2013 8,745 8,714 2/28/2013 8,811 8,792 3/31/2013 9,161 9,125 4/30/2013 9,644 9,604 5/31/2013 8,761 8,738 6/30/2013 8,445 8,368 7/31/2013 8,478 8,386 Past performance is not predictive of 8/31/2013 8,162 8,091 future performance. 9/30/2013 8,861 8,784 10/31/2013 9,128 9,045 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE FROM redemption of fund shares. TOTAL RETURN YEAR YEARS 03/01/2007 ----------------------------------------------------------------- The S&P data are provided by Standard 9.24% 15.39% -1.36% & Poor's Index Services Group. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- DFA GLOBAL REAL ESTATE SECURITIES PORTFOLIO VS. S&P GLOBAL REIT INDEX (NET DIVIDENDS) JUNE 4, 2008-OCTOBER 31, 2013 [CHART] DFA Global Real S&P Global Estate Securities Portfolio REIT Index (net dividends) --------------------------- --------------------------- 6/4/2008 $10,000 $10,000 6/30/2008 9,000 8,970 7/31/2008 9,020 8,995 8/31/2008 9,000 8,979 9/30/2008 8,710 8,552 10/31/2008 6,040 5,939 11/30/2008 5,040 4,955 12/31/2008 5,632 5,465 1/31/2009 4,817 4,698 2/28/2009 3,982 3,887 3/31/2009 4,186 4,070 4/30/2009 5,051 4,921 5/31/2009 5,438 5,235 6/30/2009 5,408 5,208 7/31/2009 5,937 5,716 8/31/2009 6,670 6,460 9/30/2009 7,108 6,889 10/31/2009 6,874 6,673 11/30/2009 7,159 6,897 12/31/2009 7,471 7,199 1/31/2010 7,133 6,884 2/28/2010 7,362 7,066 3/31/2010 7,875 7,557 4/30/2010 8,202 7,887 5/31/2010 7,591 7,270 6/30/2010 7,373 7,054 7/31/2010 8,158 7,772 8/31/2010 8,115 7,722 9/30/2010 8,649 8,231 10/31/2010 9,031 8,595 11/30/2010 8,682 8,264 12/31/2010 9,249 8,789 1/31/2011 9,448 8,947 2/28/2011 9,856 9,334 3/31/2011 9,786 9,258 4/30/2011 10,370 9,804 5/31/2011 10,428 9,853 6/30/2011 10,195 9,617 7/31/2011 10,218 9,647 8/31/2011 9,728 9,153 9/30/2011 8,583 8,093 10/31/2011 9,588 9,052 11/30/2011 9,296 8,693 12/31/2011 9,417 8,843 1/31/2012 10,020 9,412 2/29/2012 10,092 9,489 3/31/2012 10,454 9,791 4/30/2012 10,719 10,055 5/31/2012 10,176 9,518 6/30/2012 10,791 10,090 7/31/2012 11,105 10,413 8/31/2012 11,153 10,448 9/30/2012 11,117 10,424 10/31/2012 11,249 10,520 11/30/2012 11,249 10,526 12/31/2012 11,599 10,822 1/31/2013 11,921 11,170 2/28/2013 12,037 11,290 3/31/2013 12,423 11,651 4/30/2013 13,182 12,361 5/31/2013 12,230 11,472 6/30/2013 11,921 11,139 7/31/2013 11,998 11,213 Past performance is not predictive of 8/31/2013 11,316 10,573 future performance. 9/30/2013 11,908 11,121 10/31/2013 12,346 11,548 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE FROM redemption of fund shares. TOTAL RETURN YEAR YEARS 06/04/2008 ---------------------------------------------------------------- The S&P data are provided by Standard 9.74% 15.37% 3.97% & Poor's Index Services Group. -------------------------------------------------------------------------------- 12 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO VS. MSCI WORLD EX USA SMALL CAP INDEX (NET DIVIDENDS) OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] DFA International MSCI World ex USA Small Cap Value Portfolio Small Cap Index (net dividends) ------------------------- ------------------------------- 10/31/2003 $10,000 $10,000 11/30/2003 10,044 10,009 12/31/2003 10,673 10,620 01/31/2004 11,324 11,076 02/29/2004 11,672 11,412 03/31/2004 12,162 11,852 04/30/2004 11,734 11,428 05/31/2004 11,619 11,305 06/30/2004 12,147 11,876 07/31/2004 11,724 11,352 08/31/2004 11,868 11,411 09/30/2004 12,184 11,723 10/31/2004 12,581 12,157 11/30/2004 13,682 13,129 12/31/2004 14,388 13,741 01/31/2005 14,790 13,953 02/28/2005 15,491 14,546 03/31/2005 15,345 14,309 04/30/2005 15,046 13,906 05/31/2005 14,821 13,939 06/30/2005 15,169 14,309 07/31/2005 15,746 14,930 08/31/2005 16,360 15,388 09/30/2005 16,742 16,012 10/31/2005 16,354 15,429 11/30/2005 16,657 15,943 12/31/2005 17,730 17,183 01/31/2006 19,030 18,408 02/28/2006 19,070 18,177 03/31/2006 19,979 19,031 04/30/2006 20,809 19,917 05/31/2006 19,809 18,816 06/30/2006 19,440 18,358 07/31/2006 19,370 17,910 08/31/2006 19,863 18,433 09/30/2006 20,052 18,384 10/31/2006 20,931 19,114 11/30/2006 21,942 19,936 12/31/2006 22,765 20,526 01/31/2007 23,371 20,945 02/28/2007 23,794 21,312 03/31/2007 24,828 22,018 04/30/2007 25,565 22,868 05/31/2007 26,052 23,205 06/30/2007 25,943 23,155 07/31/2007 25,877 23,012 08/31/2007 24,816 21,799 09/30/2007 25,332 22,291 10/31/2007 26,330 23,796 11/30/2007 24,191 21,840 12/31/2007 23,435 21,200 01/31/2008 21,890 19,145 02/29/2008 22,369 20,054 03/31/2008 22,577 19,832 04/30/2008 22,961 20,315 05/31/2008 23,465 20,725 06/30/2008 21,415 19,125 07/31/2008 20,463 18,161 08/31/2008 19,804 17,489 09/30/2008 16,954 14,413 10/31/2008 13,264 10,855 11/30/2008 12,529 10,329 12/31/2008 13,668 11,018 01/31/2009 12,515 10,378 02/28/2009 11,140 9,430 03/31/2009 11,867 10,036 04/30/2009 13,791 11,583 05/31/2009 15,690 13,297 06/30/2009 15,638 13,456 07/31/2009 17,094 14,538 08/31/2009 18,575 15,658 09/30/2009 19,450 16,538 10/31/2009 18,759 16,283 11/30/2009 18,847 16,410 12/31/2009 19,068 16,617 01/31/2010 18,701 16,398 02/28/2010 18,524 16,305 03/31/2010 20,028 17,517 04/30/2010 20,281 17,863 05/31/2010 17,551 15,717 06/30/2010 17,199 15,569 07/31/2010 18,871 16,904 08/31/2010 17,990 16,465 09/30/2010 20,010 18,333 10/31/2010 20,636 19,089 11/30/2010 20,049 18,589 12/31/2010 22,519 20,690 01/31/2011 22,991 20,799 02/28/2011 23,658 21,390 03/31/2011 23,776 21,370 04/30/2011 24,797 22,430 05/31/2011 23,946 21,809 06/30/2011 23,424 21,337 07/31/2011 22,974 21,220 08/31/2011 20,789 19,544 09/30/2011 18,336 17,300 10/31/2011 19,731 18,705 11/30/2011 19,093 17,765 12/31/2011 18,586 17,419 01/31/2012 20,448 18,858 02/29/2012 21,666 19,926 03/31/2012 21,693 19,794 04/30/2012 21,091 19,691 05/31/2012 18,408 17,377 06/30/2012 19,316 17,977 07/31/2012 19,261 18,116 08/31/2012 19,968 18,636 09/30/2012 20,902 19,519 10/31/2012 21,097 19,614 11/30/2012 21,389 19,715 12/31/2012 22,723 20,464 01/31/2013 23,889 21,449 02/28/2013 24,031 21,525 03/31/2013 24,521 21,945 04/30/2013 25,217 22,582 05/31/2013 24,720 22,052 06/30/2013 23,967 21,180 07/31/2013 25,754 22,504 Past performance is not predictive of 08/31/2013 25,437 22,464 future performance. 09/30/2013 27,902 24,350 10/31/2013 29,069 25,070 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE TEN redemption of fund shares. TOTAL RETURN YEAR YEARS YEARS ----------------------------------------------------------------- MSCI data copyright MSCI 2013, all 37.79% 16.99% 11.26% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- INTERNATIONAL VECTOR EQUITY PORTFOLIO VS. MSCI WORLD EX USA INDEX (NET DIVIDENDS) AUGUST 14, 2008-OCTOBER 31, 2013 [CHART] International Vector MSCI World ex Equity Portfolio USA Index (net dividends) -------------------- ------------------------ 08/14/2008 $10,000 $10,000 08/31/2008 10,050 10,052 09/30/2008 8,750 8,601 10/31/2008 6,740 6,812 11/30/2008 6,340 6,442 12/31/2008 6,798 6,782 01/31/2009 6,065 6,149 02/28/2009 5,392 5,527 03/31/2009 5,903 5,891 04/30/2009 6,919 6,650 05/31/2009 7,985 7,491 06/30/2009 7,932 7,414 07/31/2009 8,715 8,110 08/31/2009 9,274 8,499 09/30/2009 9,740 8,849 10/31/2009 9,404 8,707 11/30/2009 9,608 8,923 12/31/2009 9,715 9,065 01/31/2010 9,377 8,640 02/28/2010 9,357 8,631 03/31/2010 10,099 9,187 04/30/2010 10,120 9,050 05/31/2010 8,870 8,051 06/30/2010 8,736 7,935 07/31/2010 9,659 8,668 08/31/2010 9,254 8,409 09/30/2010 10,289 9,216 10/31/2010 10,684 9,544 11/30/2010 10,300 9,140 12/31/2010 11,397 9,876 01/31/2011 11,660 10,089 02/28/2011 12,050 10,463 03/31/2011 11,881 10,253 04/30/2011 12,482 10,812 05/31/2011 12,071 10,491 06/30/2011 11,823 10,342 07/31/2011 11,545 10,171 08/31/2011 10,519 9,311 09/30/2011 9,260 8,376 10/31/2011 10,045 9,191 11/30/2011 9,733 8,766 12/31/2011 9,464 8,670 01/31/2012 10,238 9,138 02/29/2012 10,780 9,641 03/31/2012 10,780 9,570 04/30/2012 10,514 9,407 05/31/2012 9,219 8,335 06/30/2012 9,745 8,881 07/31/2012 9,700 8,991 08/31/2012 10,038 9,248 09/30/2012 10,435 9,529 10/31/2012 10,537 9,595 11/30/2012 10,706 9,797 12/31/2012 11,253 10,093 01/31/2013 11,755 10,590 02/28/2013 11,652 10,484 03/31/2013 11,784 10,567 04/30/2013 12,218 11,049 05/31/2013 11,944 10,801 06/30/2013 11,564 10,397 07/31/2013 12,305 10,950 Past performance is not predictive of 08/31/2013 12,213 10,809 future performance. 09/30/2013 13,183 11,573 10/31/2013 13,648 11,961 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE FROM redemption of fund shares. TOTAL RETURN YEAR YEARS 08/14/2008 ----------------------------------------------------------------- MSCI data copyright MSCI 2013, all 29.52% 15.15% 6.15% rights reserved. -------------------------------------------------------------------------------- 13 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- WORLD EX U.S. VALUE PORTFOLIO VS. MSCI ALL COUNTRY WORLD EX USA INDEX (NET DIVIDENDS) AUGUST 23, 2010-OCTOBER 31, 2013 [CHART] World Ex U.S. MSCI All Country World Value Portfolio ex USA Index (net dividends) ------------------ ----------------------------- 08/23/2010 $10,000 $10,000 08/31/2010 9,890 9,920 09/30/2010 10,980 10,906 10/31/2010 11,350 11,278 11/30/2010 10,850 10,843 12/31/2010 11,859 11,692 01/31/2011 12,122 11,807 02/28/2011 12,385 12,118 03/31/2011 12,311 12,090 04/30/2011 12,899 12,681 05/31/2011 12,433 12,315 06/30/2011 12,238 12,136 07/31/2011 11,920 11,971 08/31/2011 10,670 10,945 09/30/2011 9,314 9,727 10/31/2011 10,261 10,752 11/30/2011 9,880 10,203 12/31/2011 9,590 10,089 01/31/2012 10,422 10,774 02/29/2012 10,984 11,379 03/31/2012 10,811 11,222 04/30/2012 10,436 11,045 05/31/2012 9,177 9,791 06/30/2012 9,755 10,369 07/31/2012 9,703 10,515 08/31/2012 10,041 10,735 09/30/2012 10,475 11,136 10/31/2012 10,538 11,179 11/30/2012 10,687 11,392 12/31/2012 11,281 11,787 01/31/2013 11,720 12,266 02/28/2013 11,442 12,137 03/31/2013 11,460 12,161 04/30/2013 11,899 12,608 05/31/2013 11,696 12,316 06/30/2013 11,154 11,782 07/31/2013 11,796 12,298 Past performance is not predictive of 08/31/2013 11,666 12,128 future performance. 09/30/2013 12,556 12,971 10/31/2013 13,026 13,447 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FROM redemption of fund shares. TOTAL RETURN YEAR 08/23/2010 ---------------------------------------------------- MSCI data copyright MSCI 2013, all 23.61% 8.64% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- WORLD EX U.S. TARGETED VALUE PORTFOLIO VS. MSCI ALL COUNTRY WORLD EX USA SMALL CAP INDEX (NET DIVIDENDS) NOVEMBER 1, 2012-OCTOBER 31, 2013 [CHART] World Ex U.S. Targeted MSCI All Country World ex USA Value Portfolio Small Cap Index (net dividends) ----------------------- ---------------------------------- 11/01/2012 $10,000 $10,000 11/30/2012 10,120 10,013 12/31/2012 10,735 10,417 01/31/2013 11,157 10,868 02/28/2013 11,147 10,925 03/31/2013 11,278 11,098 04/30/2013 11,549 11,398 05/31/2013 11,298 11,175 06/30/2013 10,766 10,607 07/31/2013 11,376 11,134 Past performance is not predictive of 08/31/2013 11,193 11,038 future performance. 09/30/2013 12,191 11,920 10/31/2013 12,690 12,289 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL FROM redemption of fund shares. TOTAL RETURN 11/01/2012 ----------------------------------------- MSCI data copyright MSCI 2013, all 26.90% rights reserved. -------------------------------------------------------------------------------- 14 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- WORLD EX U.S. CORE EQUITY PORTFOLIO VS. MSCI ALL COUNTRY WORLD EX USA INDEX (NET DIVIDENDS) APRIL 9, 2013-OCTOBER 31, 2013 [CHART] World Ex U.S. Core MSCI All Country World Equity Portfolio ex USA Index (net dividends) ------------------ ---------------------------- 04/09/2013 $10,000 $10,000 04/30/2013 10,160 10,415 05/31/2013 9,890 10,174 06/30/2013 9,485 9,733 07/31/2013 9,971 10,159 08/31/2013 9,830 10,019 09/30/2013 10,575 10,715 Past performance is not predictive of 10/31/2013 10,962 11,108 future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the FROM redemption of fund shares. TOTAL RETURN 04/09/2013 ---------------------------------------- MSCI data copyright MSCI 2013, all 9.62% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- SELECTIVELY HEDGED GLOBAL EQUITY PORTFOLIO VS. MSCI ALL COUNTRY WORLD INDEX (NET DIVIDENDS) NOVEMBER 14, 2011-OCTOBER 31, 2013 [CHART] Selectively Hedged Global MSCI All Country World Equity Portfolio Index (net dividends) ------------------------- ----------------------- 11/14/2011 $10,000 $10,000 11/30/2011 9,920 9,873 12/31/2011 9,828 9,853 1/31/2012 10,533 10,426 2/29/2012 11,077 10,951 3/31/2012 11,141 11,024 4/30/2012 10,939 10,898 5/31/2012 9,962 9,921 6/30/2012 10,442 10,410 7/31/2012 10,463 10,553 8/31/2012 10,748 10,782 9/30/2012 11,122 11,122 10/31/2012 11,112 11,048 11/30/2012 11,265 11,189 12/31/2012 11,718 11,443 1/31/2013 12,225 11,970 2/28/2013 12,287 11,968 3/31/2013 12,576 12,187 4/30/2013 12,814 12,535 5/31/2013 12,897 12,501 6/30/2013 12,514 12,135 7/31/2013 13,114 12,716 Past performance is not predictive of 8/31/2013 12,845 12,451 future performance. 9/30/2013 13,569 13,094 10/31/2013 14,096 13,621 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FROM redemption of fund shares. TOTAL RETURN YEAR 11/14/2011 ---------------------------------------------------- MSCI data copyright MSCI 2013, all 26.86% 19.13% rights reserved. -------------------------------------------------------------------------------- 15 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- EMERGING MARKETS PORTFOLIO VS. MSCI EMERGING MARKETS INDEX (NET DIVIDENDS) OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] MSCI Emerging Markets Emerging Markets Portfolio Index (net dividends) -------------------------- --------------------- 10/31/2003 $10,000 $10,000 11/30/2003 9,900 10,122 12/31/2003 10,941 10,855 1/31/2004 11,143 11,234 2/29/2004 11,633 11,749 3/31/2004 11,709 11,896 4/30/2004 10,966 10,922 5/31/2004 10,831 10,704 6/30/2004 11,026 10,749 7/31/2004 11,018 10,552 8/31/2004 11,324 10,990 9/30/2004 11,957 11,624 10/31/2004 12,290 11,902 11/30/2004 13,360 13,004 12/31/2004 14,216 13,628 1/31/2005 14,328 13,663 2/28/2005 15,396 14,855 3/31/2005 14,337 13,873 4/30/2005 13,992 13,501 5/31/2005 14,406 13,971 6/30/2005 14,834 14,445 7/31/2005 15,784 15,455 8/31/2005 15,880 15,587 9/30/2005 17,139 17,039 10/31/2005 16,279 15,925 11/30/2005 17,455 17,243 12/31/2005 18,460 18,262 1/31/2006 20,217 20,301 2/28/2006 20,155 20,277 3/31/2006 20,429 20,456 4/30/2006 21,646 21,913 5/31/2006 19,141 19,617 6/30/2006 19,111 19,569 7/31/2006 19,461 19,849 8/31/2006 20,069 20,355 9/30/2006 20,339 20,524 10/31/2006 21,548 21,499 11/30/2006 22,920 23,097 12/31/2006 23,844 24,137 1/31/2007 24,190 23,877 2/28/2007 23,807 23,735 3/31/2007 24,892 24,680 4/30/2007 26,471 25,823 5/31/2007 28,241 27,102 6/30/2007 28,700 28,372 7/31/2007 29,380 29,869 8/31/2007 28,866 29,235 9/30/2007 31,409 32,463 10/31/2007 34,839 36,084 11/30/2007 32,565 33,526 12/31/2007 32,432 33,643 1/31/2008 29,598 29,445 2/29/2008 30,536 31,618 3/31/2008 29,583 29,945 4/30/2008 31,685 32,375 5/31/2008 31,869 32,976 6/30/2008 28,589 29,687 7/31/2008 28,209 28,567 8/31/2008 26,529 26,285 9/30/2008 22,827 21,685 10/31/2008 16,812 15,750 11/30/2008 15,284 14,565 12/31/2008 16,475 15,701 1/31/2009 15,216 14,687 2/28/2009 14,218 13,858 3/31/2009 16,273 15,850 4/30/2009 18,677 18,487 5/31/2009 21,859 21,646 6/30/2009 21,667 21,355 7/31/2009 24,138 23,756 8/31/2009 24,219 23,671 9/30/2009 26,341 25,820 10/31/2009 25,789 25,852 11/30/2009 27,322 26,962 12/31/2009 28,300 28,027 1/31/2010 26,749 26,464 2/28/2010 27,072 26,557 3/31/2010 29,330 28,701 4/30/2010 29,497 29,049 5/31/2010 26,745 26,494 6/30/2010 26,786 26,299 7/31/2010 29,138 28,489 8/31/2010 28,456 27,936 9/30/2010 31,682 31,040 10/31/2010 32,632 31,941 11/30/2010 31,893 31,098 12/31/2010 34,474 33,317 1/31/2011 33,574 32,413 2/28/2011 33,327 32,111 3/31/2011 35,171 33,999 4/30/2011 36,396 35,054 5/31/2011 35,385 34,134 6/30/2011 34,953 33,609 7/31/2011 34,671 33,460 8/31/2011 31,855 30,470 9/30/2011 27,033 26,027 10/31/2011 30,407 29,475 11/30/2011 29,335 27,511 12/31/2011 28,471 27,179 1/31/2012 31,525 30,262 2/29/2012 33,226 32,074 3/31/2012 32,351 31,004 4/30/2012 31,764 30,633 5/31/2012 28,339 27,198 6/30/2012 29,724 28,248 7/31/2012 29,966 28,799 8/31/2012 30,146 28,703 9/30/2012 31,830 30,435 10/31/2012 31,648 30,250 11/30/2012 32,061 30,634 12/31/2012 33,924 32,132 1/31/2013 34,097 32,575 2/28/2013 33,690 32,166 3/31/2013 33,203 31,612 4/30/2013 33,560 31,850 5/31/2013 32,463 31,033 6/30/2013 30,419 29,057 7/31/2013 30,854 29,361 8/31/2013 30,121 28,856 Past performance is not predictive of 9/30/2013 32,268 30,733 future performance. 10/31/2013 33,731 32,226 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE TEN redemption of fund shares. TOTAL RETURN YEAR YEARS YEARS -------------------------------------------------------- MSCI data copyright MSCI 2013, all 6.58% 14.94% 12.93% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- EMERGING MARKETS SMALL CAP PORTFOLIO VS. MSCI EMERGING MARKETS INDEX (NET DIVIDENDS) OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] Emerging Markets MSCI Emerging Markets Small Cap Portfolio Index (net dividends) -------------------- --------------------- 10/31/2003 $10,000 $10,000 11/30/2003 10,198 10,122 12/31/2003 11,211 10,855 1/31/2004 11,543 11,234 2/29/2004 12,030 11,749 3/31/2004 12,232 11,896 4/30/2004 11,543 10,922 5/31/2004 11,057 10,704 6/30/2004 11,148 10,749 7/31/2004 11,220 10,552 8/31/2004 11,590 10,990 9/30/2004 12,235 11,624 10/31/2004 12,535 11,902 11/30/2004 13,722 13,004 12/31/2004 14,449 13,628 1/31/2005 14,850 13,663 2/28/2005 15,791 14,855 3/31/2005 14,690 13,873 4/30/2005 14,149 13,501 5/31/2005 14,426 13,971 6/30/2005 14,791 14,445 7/31/2005 15,602 15,455 8/31/2005 15,703 15,587 9/30/2005 16,733 17,039 10/31/2005 15,917 15,925 11/30/2005 17,052 17,243 12/31/2005 18,170 18,262 1/31/2006 19,924 20,301 2/28/2006 20,133 20,277 3/31/2006 20,501 20,456 4/30/2006 22,166 21,913 5/31/2006 19,832 19,617 6/30/2006 18,957 19,569 7/31/2006 19,393 19,849 8/31/2006 20,067 20,355 9/30/2006 20,622 20,524 10/31/2006 22,177 21,499 11/30/2006 23,864 23,097 12/31/2006 24,948 24,137 1/31/2007 25,417 23,877 2/28/2007 25,644 23,735 3/31/2007 26,781 24,680 4/30/2007 28,827 25,823 5/31/2007 31,114 27,102 6/30/2007 32,044 28,372 7/31/2007 33,601 29,869 8/31/2007 32,201 29,235 9/30/2007 34,414 32,463 10/31/2007 36,993 36,084 11/30/2007 34,027 33,526 12/31/2007 34,433 33,643 1/31/2008 30,280 29,445 2/29/2008 31,157 31,618 3/31/2008 29,681 29,945 4/30/2008 31,496 32,375 5/31/2008 31,296 32,976 6/30/2008 27,690 29,687 7/31/2008 27,256 28,567 8/31/2008 25,609 26,285 9/30/2008 20,983 21,685 10/31/2008 14,616 15,750 11/30/2008 13,722 14,565 12/31/2008 15,655 15,701 1/31/2009 14,451 14,687 2/28/2009 13,563 13,858 3/31/2009 15,430 15,850 4/30/2009 18,554 18,487 5/31/2009 22,804 21,646 6/30/2009 22,691 21,355 7/31/2009 25,569 23,756 8/31/2009 25,873 23,671 9/30/2009 28,031 25,820 10/31/2009 27,998 25,852 11/30/2009 29,635 26,962 12/31/2009 31,269 28,027 1/31/2010 29,884 26,464 2/28/2010 30,399 26,557 3/31/2010 32,995 28,701 4/30/2010 33,527 29,049 5/31/2010 30,144 26,494 6/30/2010 30,941 26,299 7/31/2010 33,780 28,489 8/31/2010 33,942 27,936 9/30/2010 38,053 31,040 10/31/2010 39,570 31,941 11/30/2010 38,494 31,098 12/31/2010 40,707 33,317 1/31/2011 38,981 32,413 2/28/2011 37,831 32,111 3/31/2011 39,929 33,999 4/30/2011 42,026 35,054 5/31/2011 41,062 34,134 6/30/2011 40,729 33,609 7/31/2011 41,189 33,460 8/31/2011 37,273 30,470 9/30/2011 30,643 26,027 10/31/2011 34,020 29,475 11/30/2011 32,357 27,511 12/31/2011 31,498 27,179 1/31/2012 35,049 30,262 2/29/2012 37,911 32,074 3/31/2012 36,922 31,004 4/30/2012 36,038 30,633 5/31/2012 32,735 27,198 6/30/2012 33,989 28,248 7/31/2012 33,562 28,799 8/31/2012 34,433 28,703 9/30/2012 36,446 30,435 10/31/2012 36,303 30,250 11/30/2012 36,928 30,634 12/31/2012 39,198 32,132 1/31/2013 39,920 32,575 2/28/2013 40,327 32,166 3/31/2013 40,138 31,612 4/30/2013 40,953 31,850 5/31/2013 40,360 31,033 6/30/2013 36,869 29,057 7/31/2013 37,036 29,361 8/31/2013 35,489 28,856 Past performance is not predictive of 9/30/2013 38,080 30,733 future performance. 10/31/2013 39,542 32,226 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE TEN redemption of fund shares. TOTAL RETURN YEAR YEARS YEARS ---------------------------------------------------- MSCI data copyright MSCI 2013, all 8.92% 22.02% 14.74% rights reserved. -------------------------------------------------------------------------------- 16 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- EMERGING MARKETS VALUE PORTFOLIO -- CLASS R2 VS. MSCI EMERGING MARKETS INDEX (NET DIVIDENDS) JANUARY 29, 2008-OCTOBER 31, 2013 [CHART] Emerging Markets Value MSCI Emerging Markets Portfolio - Class R2 Index (net dividends) ----------------------- --------------------- 1/29/2008 $10,000 $10,000 1/31/2008 10,050 9,871 2/29/2008 10,450 10,599 3/31/2008 10,097 10,038 4/30/2008 10,872 10,853 5/31/2008 10,962 11,054 6/30/2008 9,677 9,952 7/31/2008 9,489 9,576 8/31/2008 8,674 8,811 9/30/2008 7,174 7,269 10/31/2008 4,949 5,280 11/30/2008 4,569 4,882 12/31/2008 5,120 5,263 1/31/2009 4,675 4,923 2/28/2009 4,262 4,646 3/31/2009 5,002 5,313 4/30/2009 5,996 6,197 5/31/2009 7,342 7,256 6/30/2009 7,241 7,159 7/31/2009 8,197 7,964 8/31/2009 8,265 7,935 9/30/2009 9,035 8,655 10/31/2009 8,823 8,666 11/30/2009 9,388 9,038 12/31/2009 9,847 9,395 1/31/2010 9,297 8,871 2/28/2010 9,347 8,902 3/31/2010 10,147 9,621 4/30/2010 10,246 9,738 5/31/2010 9,147 8,881 6/30/2010 9,199 8,816 7/31/2010 10,085 9,550 8/31/2010 9,864 9,365 9/30/2010 11,031 10,405 10/31/2010 11,444 10,707 11/30/2010 11,031 10,425 12/31/2010 11,960 11,169 1/31/2011 11,583 10,866 2/28/2011 11,391 10,764 3/31/2011 12,043 11,397 4/30/2011 12,466 11,751 5/31/2011 11,990 11,443 6/30/2011 11,738 11,267 7/31/2011 11,639 11,217 8/31/2011 10,454 10,214 9/30/2011 8,577 8,725 10/31/2011 9,701 9,881 11/30/2011 9,206 9,222 12/31/2011 8,875 9,111 1/31/2012 10,102 10,144 2/29/2012 10,714 10,752 3/31/2012 10,253 10,393 4/30/2012 9,918 10,269 5/31/2012 8,817 9,117 6/30/2012 9,214 9,469 7/31/2012 9,155 9,654 8/31/2012 9,279 9,622 9/30/2012 9,873 10,202 10/31/2012 9,742 10,140 11/30/2012 9,849 10,269 12/31/2012 10,564 10,771 1/31/2013 10,734 10,920 2/28/2013 10,550 10,783 3/31/2013 10,459 10,597 4/30/2013 10,547 10,677 5/31/2013 10,243 10,403 6/30/2013 9,377 9,741 Past performance is not predictive of 7/31/2013 9,559 9,842 future performance. 8/31/2013 9,356 9,673 9/30/2013 10,045 10,302 The returns shown do not reflect the 10/31/2013 10,497 10,803 deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE FROM redemption of fund shares. TOTAL RETURN YEAR YEARS 01/29/2008 ------------------------------------------------------------ MSCI data copyright MSCI 2013, all 7.75% 16.23% 0.85% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- EMERGING MARKETS VALUE PORTFOLIO -- INSTITUTIONAL CLASS VS. MSCI EMERGING MARKETS INDEX (NET DIVIDENDS) OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] Emerging Markets Value Portfolio- MSCI Emerging Markets Institutional Class Index (net dividends) ----------------------- --------------------- 10/31/2003 $10,000 $10,000 11/30/2003 10,113 10,122 12/31/2003 11,330 10,855 1/31/2004 11,641 11,234 2/29/2004 12,394 11,749 3/31/2004 12,550 11,896 4/30/2004 11,666 10,922 5/31/2004 11,322 10,704 6/30/2004 11,528 10,749 7/31/2004 11,676 10,552 8/31/2004 12,195 10,990 9/30/2004 12,998 11,624 10/31/2004 13,404 11,902 11/30/2004 14,854 13,004 12/31/2004 15,809 13,628 1/31/2005 16,068 13,663 2/28/2005 17,533 14,855 3/31/2005 16,251 13,873 4/30/2005 15,673 13,501 5/31/2005 15,899 13,971 6/30/2005 16,421 14,445 7/31/2005 17,616 15,455 8/31/2005 17,896 15,587 9/30/2005 19,332 17,039 10/31/2005 18,122 15,925 11/30/2005 19,460 17,243 12/31/2005 20,680 18,262 1/31/2006 22,656 20,301 2/28/2006 22,743 20,277 3/31/2006 23,511 20,456 4/30/2006 25,562 21,913 5/31/2006 22,790 19,617 6/30/2006 22,583 19,569 7/31/2006 23,117 19,849 8/31/2006 23,537 20,355 9/30/2006 24,014 20,524 10/31/2006 25,680 21,499 11/30/2006 27,558 23,097 12/31/2006 28,524 24,137 1/31/2007 28,962 23,877 2/28/2007 29,124 23,735 3/31/2007 30,640 24,680 4/30/2007 33,081 25,823 5/31/2007 35,594 27,102 6/30/2007 36,605 28,372 7/31/2007 38,339 29,869 8/31/2007 37,101 29,235 9/30/2007 40,445 32,463 10/31/2007 44,882 36,084 11/30/2007 41,607 33,526 12/31/2007 41,541 33,643 1/31/2008 37,405 29,445 2/29/2008 38,899 31,618 3/31/2008 37,590 29,945 4/30/2008 40,489 32,375 5/31/2008 40,835 32,976 6/30/2008 36,084 29,687 7/31/2008 35,376 28,567 8/31/2008 32,346 26,285 9/30/2008 26,765 21,685 10/31/2008 18,454 15,750 11/30/2008 17,052 14,565 12/31/2008 19,134 15,701 1/31/2009 17,407 14,687 2/28/2009 15,928 13,858 3/31/2009 18,683 15,850 4/30/2009 22,357 18,487 5/31/2009 27,386 21,646 6/30/2009 27,049 21,355 7/31/2009 30,676 23,756 8/31/2009 30,903 23,671 9/30/2009 33,754 25,820 10/31/2009 32,956 25,852 11/30/2009 35,054 26,962 12/31/2009 36,791 28,027 1/31/2010 34,696 26,464 2/28/2010 34,965 26,557 3/31/2010 38,043 28,701 4/30/2010 38,289 29,049 5/31/2010 34,275 26,494 6/30/2010 34,489 26,299 7/31/2010 37,680 28,489 8/31/2010 36,997 27,936 9/30/2010 41,438 31,040 10/31/2010 42,856 31,941 11/30/2010 41,462 31,098 12/31/2010 44,906 33,317 1/31/2011 43,503 32,413 2/28/2011 42,770 32,111 3/31/2011 45,229 33,999 4/30/2011 46,843 35,054 5/31/2011 45,055 34,134 6/30/2011 44,132 33,609 7/31/2011 43,758 33,460 8/31/2011 39,316 30,470 9/30/2011 32,257 26,027 10/31/2011 36,496 29,475 11/30/2011 34,647 27,511 12/31/2011 33,402 27,179 1/31/2012 38,034 30,262 2/29/2012 40,350 32,074 3/31/2012 38,613 31,004 4/30/2012 37,352 30,633 5/31/2012 33,222 27,198 6/30/2012 34,724 28,248 7/31/2012 34,504 28,799 8/31/2012 34,983 28,703 9/30/2012 37,233 30,435 10/31/2012 36,751 30,250 11/30/2012 37,154 30,634 12/31/2012 39,870 32,132 1/31/2013 40,511 32,575 2/28/2013 39,830 32,166 3/31/2013 39,489 31,612 4/30/2013 39,836 31,850 5/31/2013 38,700 31,033 6/30/2013 35,441 29,057 Past performance is not predictive of 7/31/2013 36,129 29,361 future performance. 8/31/2013 35,360 28,856 9/30/2013 37,973 30,733 The returns shown do not reflect the 10/31/2013 39,694 32,226 deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE TEN redemption of fund shares. TOTAL RETURN YEAR YEARS YEARS ---------------------------------------------------------- MSCI data copyright MSCI 2013, all 8.01% 16.55% 14.78% rights reserved. -------------------------------------------------------------------------------- 17 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- EMERGING MARKETS CORE EQUITY PORTFOLIO VS. MSCI EMERGING MARKETS INDEX (NET DIVIDENDS) APRIL 5, 2005-OCTOBER 31, 2013 [CHART] Emerging Markets Core MSCI Emerging Markets Equity Portfolio Index (net dividends) ----------------------- --------------------- 4/5/2005 $10,000 $10,000 4/30/2005 9,580 9,682 5/31/2005 9,720 10,019 6/30/2005 9,980 10,359 7/31/2005 10,653 11,083 8/31/2005 10,763 11,178 9/30/2005 11,511 12,219 10/31/2005 10,898 11,421 11/30/2005 11,612 12,365 12/31/2005 12,295 13,096 1/31/2006 13,395 14,559 2/28/2006 13,416 14,542 3/31/2006 13,684 14,670 4/30/2006 14,624 15,714 5/31/2006 12,988 14,068 6/30/2006 12,775 14,034 7/31/2006 13,019 14,235 8/31/2006 13,333 14,597 9/30/2006 13,598 14,719 10/31/2006 14,487 15,418 11/30/2006 15,490 16,564 12/31/2006 16,100 17,310 1/31/2007 16,327 17,123 2/28/2007 16,204 17,022 3/31/2007 16,906 17,699 4/30/2007 18,042 18,519 5/31/2007 19,353 19,436 6/30/2007 19,811 20,347 7/31/2007 20,485 21,421 8/31/2007 19,956 20,965 9/30/2007 21,671 23,281 10/31/2007 23,924 25,877 11/30/2007 22,181 24,043 12/31/2007 22,136 24,127 1/31/2008 19,968 21,116 2/29/2008 20,621 22,675 3/31/2008 19,871 21,475 4/30/2008 21,378 23,218 5/31/2008 21,473 23,648 6/30/2008 19,079 21,290 7/31/2008 18,877 20,487 8/31/2008 17,623 18,850 9/30/2008 14,861 15,551 10/31/2008 10,661 11,295 11/30/2008 9,949 10,445 12/31/2008 10,922 11,260 1/31/2009 9,948 10,533 2/28/2009 9,277 9,938 3/31/2009 10,741 11,367 4/30/2009 12,702 13,258 5/31/2009 15,206 15,523 6/30/2009 15,058 15,314 7/31/2009 16,880 17,036 8/31/2009 16,946 16,975 9/30/2009 18,408 18,516 10/31/2009 18,068 18,539 11/30/2009 19,175 19,336 12/31/2009 20,050 20,099 1/31/2010 18,950 18,978 2/28/2010 19,159 19,045 3/31/2010 20,812 20,583 4/30/2010 21,010 20,832 5/31/2010 18,974 19,000 6/30/2010 19,134 18,860 7/31/2010 20,862 20,431 8/31/2010 20,585 20,034 9/30/2010 23,045 22,260 10/31/2010 23,724 22,906 11/30/2010 23,090 22,302 12/31/2010 24,785 23,893 1/31/2011 24,003 23,245 2/28/2011 23,589 23,028 3/31/2011 24,931 24,382 4/30/2011 25,915 25,138 5/31/2011 25,199 24,479 6/30/2011 24,849 24,102 7/31/2011 24,793 23,995 8/31/2011 22,555 21,851 9/30/2011 18,823 18,665 10/31/2011 21,213 21,138 11/30/2011 20,307 19,729 12/31/2011 19,668 19,491 1/31/2012 21,984 21,702 2/29/2012 23,365 23,002 3/31/2012 22,635 22,234 4/30/2012 22,133 21,968 5/31/2012 19,805 19,505 6/30/2012 20,693 20,258 7/31/2012 20,705 20,653 8/31/2012 20,923 20,584 9/30/2012 22,115 21,826 10/31/2012 21,965 21,693 11/30/2012 22,300 21,969 12/31/2012 23,698 23,043 1/31/2013 23,907 23,361 2/28/2013 23,744 23,067 3/31/2013 23,492 22,670 4/30/2013 23,759 22,841 5/31/2013 23,108 22,255 6/30/2013 21,448 20,838 7/31/2013 21,740 21,056 Past performance is not predictive of 8/31/2013 21,178 20,694 future performance. 9/30/2013 22,690 22,040 10/31/2013 23,668 23,111 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE FROM redemption of fund shares. TOTAL RETURN YEAR YEARS 04/05/2005 ----------------------------------------------------------- MSCI data copyright MSCI 2013, all 7.75% 17.29% 10.57% rights reserved. -------------------------------------------------------------------------------- 18 DFA INVESTMENT DIMENSIONS GROUP INC. MANAGEMENT'S DISCUSSION AND ANALYSIS U.S. EQUITY MARKET REVIEW 12 MONTHS ENDED OCTOBER 31, 2013 The one-year period ended October 31, 2013, was characterized by strong gains in U.S. equities. The broad U.S. equity market, as measured by the Russell 3000(R) Index, had positive returns in 10 of the 12 months. The size premium was positive during the period with small cap stocks outperforming large cap stocks as measured by the Russell indices. Micro cap stocks were the strongest performers. TOTAL RETURN FOR 12 MONTHS ENDED OCTOBER 31, 2013 ------------------------------------------------- Russell 3000(R) Index........................ 28.99% Russell Microcap(R) Index (micro cap stocks). 38.72% Russell 2000(R) Index (small cap stocks)..... 36.28% Russell 1000(R) Index (large cap stocks)..... 28.40% Dow Jones U.S. Select REIT Index /SM/........ 9.96% The value premium was negative in small cap stocks while the performance of large cap value and large cap growth was almost identical as measured by the Russell indices. TOTAL RETURN FOR 12 MONTHS ENDED OCTOBER 31, 2013 ------------------------------------------------- Russell 2000(R) Value Index (small cap value stocks)... 32.83% Russell 2000(R) Growth Index (small cap growth stocks). 39.84% Russell 1000(R) Value Index (large cap value stocks)... 28.29% Russell 1000(R) Growth Index (large cap growth stocks). 28.30% Source: Russell data copyright (C) Russell Investment Group 1995-2013, all rights reserved. Dimensional Fund Advisors LP ("Dimensional" or the "Advisor") believes that among the most important factors explaining differences in the behavior of diversified equity portfolios are the market capitalization and value/growth characteristics of the portfolios' holdings. Value characteristics are a function of stock price relative to one or more fundamental characteristics such as book value, earnings, or dividends. For many Dimensional U.S. equity portfolios, differences in returns over the 12 months ended October 31, 2013, were primarily attributable to differences in value/growth and size characteristics as well as the exclusion of REIT securities from most Dimensional portfolios and the exclusion of securities of highly regulated utilities from most value strategies. For many portfolios, the construction approach used by Dimensional generally resulted in portfolios with greater weight in value, small cap, and/or micro cap companies relative to widely used benchmarks. MASTER-FEEDER STRUCTURE Certain portfolios described below, called "Feeder Funds," do not buy individual securities directly; instead, these portfolios invest in corresponding funds called "Master Funds." Master Funds, in turn, purchase stocks and/or other securities. ENHANCED U.S. LARGE COMPANY PORTFOLIO The Enhanced U.S. Large Company Portfolio seeks to outperform the total return of the S&P 500(R) Index. This strategy combines investment in investment grade, short-term fixed income instruments with an overlay of S&P 500(R) Index futures contracts, swaps, and/or ETFs. For the 12 months ended October 31, 2013, an average of approximately 96% of the equity exposure consisted of S&P 500(R) Index futures contracts. ETFs accounted for the remaining exposure. The behavior of S&P 500(R) Index futures contracts and ETFs linked to the S&P 500(R) Index is determined principally by the performance of the S&P 500(R) Index. 19 For the 12 months ended October 31, 2013, the total return was 26.99% for the Portfolio and 27.18% for the S&P 500(R) Index. Relative to the Index, the Portfolio's underperformance was primarily due to the performance of the fixed income component of the Portfolio. The return of the fixed income component was slightly less than the average interest rate priced into the S&P 500(R) futures contracts that the Portfolio purchased throughout the year. U.S. LARGE CAP EQUITY PORTFOLIO The U.S. Large Cap Equity Portfolio seeks to capture the returns of U.S. large company stocks. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 830 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. From the Portfolio's inception on June 25, 2013, through October 31, 2013, total returns were 11.01% for the Portfolio and 12.13% for the Russell 1000(R) Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the U.S. equity market, rather than the behavior of a limited number of stocks. The Portfolio had higher average cash balances than the Index in June 2013, the month it launched, which was primarily responsible for the Portfolio's relative underperformance compared to the Index as U.S. equities generally had positive returns in the last days of June. The Portfolio's relative underperformance was partly offset by its greater exposure than the Index to smaller stocks within the large cap universe, which generally outperformed larger stocks during the period. The Portfolio's exclusion of real estate investment trusts ("REITs") also benefited the Portfolio's relative performance as REITs underperformed during the period. U.S. LARGE CAP VALUE PORTFOLIO The U.S. Large Cap Value Portfolio seeks to capture the returns of U.S. large company value stocks by purchasing shares of The U.S. Large Cap Value Series, a Master Fund that invests in such stocks. Value is measured primarily by book-to-market ratio. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Master Fund held approximately 220 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Master Fund's assets. For the 12 months ended October 31, 2013, total returns were 35.52% for the Portfolio and 28.29% for the Russell 1000(R) Value Index. As a result of the Master Fund's diversified investment approach, performance was determined principally by broad structural trends in the U.S. equity market rather than the behavior of a limited number of stocks. The Master Fund had significantly greater exposure than the Index to deeper value stocks. These stocks generally outperformed the Index, and the Master Fund's higher weight helped the Portfolio's relative performance. The Master Fund's exclusion of real estate investment trusts ("REITs") and highly regulated utilities also contributed to the Portfolio's outperformance relative to the Index as both sectors underperformed the overall Index during the period. U.S. TARGETED VALUE PORTFOLIO The U.S. Targeted Value Portfolio seeks to capture the returns of U.S. small and mid-capitalization value stocks. Value is measured primarily by book-to-market ratio. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 1,500 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 40.39% for the Portfolio's Class R1 shares, 40.10% for the Portfolio's Class R2 shares, 40.40% for the Portfolio's Institutional Class shares, and 32.83% for the Russell 2000(R) Value Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the U.S. equity market, rather than the behavior of a limited number of stocks. The Portfolio's exclusion of REITs and highly regulated utilities contributed to the Portfolio's outperformance relative to the Index as these sectors underperformed the overall Index during the period. U.S. SMALL CAP VALUE PORTFOLIO The U.S. Small Cap Value Portfolio seeks to capture the returns of U.S. small company value stocks. Value is measured primarily by book-to-market ratio. The investment strategy is process driven, emphasizing broad 20 diversification. As of October 31, 2013, the Portfolio held approximately 1,200 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 39.35% for the Portfolio and 32.83% for the Russell 2000(R) Value Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the U.S. equity market, rather than the behavior of a limited number of stocks. The Portfolio's exclusion of real estate investment trusts ("REITs") and highly regulated utilities contributed to the Portfolio's outperformance relative to the Index as both sectors underperformed the overall Index during the period. U.S. CORE EQUITY 1 PORTFOLIO The U.S. Core Equity 1 Portfolio seeks to capture the returns of the total U.S. market universe with increased exposure to smaller company stocks and value stocks relative to the market. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 2,900 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 32.32% for the Portfolio and 28.99% for the Russell 3000(R) Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the U.S. equity market, rather than the behavior of a limited number of stocks. The Portfolio had greater exposure than the Index to small cap stocks and less exposure to large cap stocks, both of which contributed to the Portfolio's outperformance relative to the Index as small cap stocks generally outperformed large cap stocks during the period. The Portfolio's exclusion of real estate investment trusts ("REITs") also contributed to the Portfolio's outperformance relative to the Index as REITs underperformed during the period. U.S. CORE EQUITY 2 PORTFOLIO The U.S. Core Equity 2 Portfolio seeks to capture the returns of the total U.S. market universe with increased exposure to smaller company stocks and value stocks relative to the U.S. Core Equity 1 Portfolio and the market. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 2,900 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 33.66% for the Portfolio and 28.99% for the Russell 3000(R) Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the U.S. equity market, rather than the behavior of a limited number of stocks. The Portfolio had greater exposure than the Index to small cap stocks and less exposure to large cap stocks, both of which contributed to the Portfolio's outperformance relative to the Index as small cap stocks generally outperformed large cap stocks during the period. The Portfolio's exclusion of real estate investment trusts ("REITs") also contributed to the Portfolio's outperformance relative to the Index as REITs underperformed during the period. U.S. VECTOR EQUITY PORTFOLIO The U.S. Vector Equity Portfolio seeks to capture the returns of a broadly diversified portfolio of U.S. stocks with increased exposure to smaller company stocks and value stocks relative to the market. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 2,800 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 36.80% for the Portfolio and 28.99% for the Russell 3000(R) Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the U.S. equity market, rather than the behavior of a limited number of stocks. The Portfolio had greater exposure than the Index to small cap stocks and less exposure to large cap stocks, both of which contributed to the Portfolio's outperformance relative to the Index as small cap stocks generally outperformed large cap stocks during the period. The Portfolio's exclusion of real estate investment trusts ("REITs") also contributed to the Portfolio's outperformance relative to the Index as REITs underperformed during the period. 21 U.S. SMALL CAP PORTFOLIO The U.S. Small Cap Portfolio seeks to capture the returns of U.S. small company stocks. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 2,200 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 39.03% for the Portfolio and 36.28% for the Russell 2000(R) Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the U.S. equity market, rather than the behavior of a limited number of stocks. The Portfolio's exclusion of real estate investment trusts ("REITs") contributed to the Portfolio's outperformance relative to the Index as REITs underperformed during the period. The Portfolio excluded certain extreme small cap growth stocks, as measured by book-to-market ratio and other metrics, which were held by the Index. These stocks generally underperformed relative to the Index, and their exclusion from the Portfolio also benefited the Portfolio's relative performance. U.S. MICRO CAP PORTFOLIO The U.S. Micro Cap Portfolio seeks to capture the returns of the smallest U.S. company stocks and generally has a smaller market capitalization profile than the U.S. Small Cap Portfolio. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 1,900 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 41.34% for the Portfolio and 36.28% for the Russell 2000(R) Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the U.S. equity market, rather than the behavior of a limited number of stocks. The Portfolio focuses on micro cap stocks while the Index has exposure to small and mid-cap stocks. Micro cap stocks generally outperformed small and mid-cap stocks during the period, and the Portfolio's greater exposure than the Index to micro cap stocks contributed to the Portfolio's relative outperformance. The Portfolio's exclusion of real estate investment trusts ("REITs") also contributed to the Portfolio's outperformance relative to the Index as REITs underperformed during the period. The Portfolio excluded certain extreme small cap growth stocks, as measured by book-to-market ratio and other metrics, which were held by the Index. These stocks generally underperformed, and their exclusion from the Portfolio benefited the Portfolio's relative performance. DFA REAL ESTATE SECURITIES PORTFOLIO The DFA Real Estate Securities Portfolio seeks to capture the returns of a broadly diversified portfolio of U.S. real estate securities. As of October 31, 2013, the Portfolio held approximately 120 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of portfolio assets. For the 12 months ended October 31, 2013, total returns were 10.28% for the Portfolio, 9.96% for the Dow Jones U.S. Select REIT Index/SM/, and 27.18% for the S&P 500(R) Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the U.S. real estate securities market rather than the behavior of a limited number of securities. The Portfolio has a lower market cap floor than the Dow Jones U.S. Select REIT Index/SM/ and invests in small cap REITs that may not be included in the Index. In addition, the Index excludes net lease REITs, which are eligible for the Portfolio. These securities held by the Portfolio and excluded by the Index, particularly net lease REITs, generally outperformed during the period and benefited the Portfolio's relative performance. INTERNATIONAL EQUITY MARKET REVIEW 12 MONTHS ENDED OCTOBER 31, 2013 The one-year period ended October 31, 2013, was characterized by generally positive monthly returns in the international equity markets with the exception of a sharp decline from May to June and a smaller decline in August. As measured by the MSCI indices below for developed markets outside the U.S., small cap stocks generally outperformed large cap stocks while value stocks outperformed growth stocks. 22 12 MONTHS ENDED OCTOBER 31, 2013 -------------------------------- U.S. DOLLAR RETURN - ------------------ MSCI World ex USA Index........... 24.65% MSCI World ex USA Small Cap Index. 27.81% MSCI World ex USA Value Index..... 26.12% MSCI World ex USA Growth Index.... 23.17% During the period, the U.S. dollar (USD) was mixed against developed markets currencies. While the U.S. dollar depreciated against the euro, Swiss franc, and several other European-based developed markets currencies, it appreciated against the sterling, Canadian dollar, Australian dollar and Japanese yen. 12 MONTHS ENDED OCTOBER 31, 2013 -------------------------------- TEN LARGEST FOREIGN DEVELOPED MARKETS BY MARKET CAP LOCAL CURRENCY RETURN U.S. DOLLAR RETURN --------------------------------------------------- --------------------- ------------------ United Kingdom.................... 20.70% 20.37% Japan............................. 64.48% 34.00% Canada............................ 10.59% 5.99% France............................ 27.55% 33.82% Australia......................... 26.44% 15.47% Switzerland....................... 27.49% 31.10% Germany........................... 24.72% 30.85% Spain............................. 30.69% 37.11% Sweden............................ 24.39% 27.55% Hong Kong......................... 14.30% 14.25% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2013, all rights reserved. Gains in emerging markets were lower on average than in developed markets although results varied widely among the individual emerging markets countries. For the one-year period ended October 31, 2013, returns in U.S. dollars were 6.53% for the MSCI Emerging Markets Index (net dividends) versus 24.65% for the MSCI World ex USA Index (net dividends). As measured by the MSCI emerging markets indices, small cap stocks outperformed large cap stocks while growth stocks outperformed value stocks. 12 MONTHS ENDED OCTOBER 31, 2013 -------------------------------- U.S. DOLLAR RETURN - ------------------ MSCI Emerging Markets Index........... 6.53% MSCI Emerging Markets Small Cap Index. 10.29% MSCI Emerging Markets Value Index..... 3.88% MSCI Emerging Markets Growth Index.... 9.06% During the period, the U.S. dollar (USD) generally appreciated against most emerging markets currencies, except those in eastern Europe, decreasing USD denominated returns in emerging markets. 12 MONTHS ENDED OCTOBER 31, 2013 -------------------------------- TEN LARGEST EMERGING MARKETS BY MARKET CAP LOCAL CURRENCY RETURN U.S. DOLLAR RETURN ------------------------------------------ --------------------- ------------------ China........................ 9.32% 9.28% South Korea.................. 9.57% 12.65% Brazil....................... 7.85% -1.52% Taiwan....................... 18.76% 18.08% South Africa................. 20.85% 5.07% India........................ 14.98% 0.65% Russia....................... 12.94% 10.89% Mexico....................... 1.41% 2.11% Malaysia..................... 13.25% 9.32% Indonesia.................... 1.33% -13.66% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2013, all rights reserved. 23 GLOBAL REAL ESTATE MARKET REVIEW 12 MONTHS ENDED OCTOBER 31, 2013 Publicly traded global real estate investment trusts ("REITs") produced positive overall returns during the one-year period ended October 31, 2013. In most of the world, REITs trailed equities but exceeded fixed income returns. REITs in the U.K., Continental Europe, and Japan produced the strongest returns while REITs in emerging markets generally underperformed. The largest REIT market, the United States, had positive returns. On a global basis, specialized and industrial REITs had the biggest gains. Residential REITs were the weakest performers but still delivered positive returns. 12 MONTHS ENDED OCTOBER 31, 2013 U.S. DOLLAR RETURN - ------------------ S&P Global ex U.S. REIT Index (net dividends). 9.05% S&P Global REIT Index (net dividends)......... 9.77% Source: Standard and Poor's. Copyright S&P, 2013. All rights reserved. MASTER-FEEDER STRUCTURE Certain portfolios described below, called "Feeder Funds," do not buy individual securities directly; instead, these portfolios invest in corresponding funds called "Master Funds." Master Funds, in turn, purchase stocks and/or other securities. LARGE CAP INTERNATIONAL PORTFOLIO The Large Cap International Portfolio seeks to capture the returns of a broadly diversified portfolio of international large company stocks. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 1,500 securities in 22 eligible developed markets. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 24.85% for the Portfolio and 24.65% for the MSCI World ex USA Index (net dividends). As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the international equity markets rather than by the behavior of a limited number of stocks. By design, the Portfolio had slightly greater exposure than the Index to smaller stocks within the large cap universe. These smaller stocks generally outperformed larger stocks within the large cap universe and contributed to the Portfolio's outperformance relative to the Index. The Portfolio's exclusion of real estate investment trusts ("REITs") also contributed to the Portfolio's outperformance relative to the Index as REITs underperformed during the period. INTERNATIONAL CORE EQUITY PORTFOLIO The International Core Equity Portfolio seeks to capture the returns of the broad universe of international stocks, with increased exposure to smaller company stocks and those with value characteristics. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 4,900 securities in 22 eligible developed markets. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 27.98% for the Portfolio and 24.65% for the MSCI World ex USA Index (net dividends). As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the international equity markets rather than by the behavior of a limited number of stocks. The Portfolio invests in stocks across all size categories while the Index primarily holds large cap and mid-cap stocks. International small cap stocks generally outperformed international large cap and mid cap stocks during the period, and the Portfolio's greater exposure to small cap stocks benefited the Portfolio's performance relative to the Index. The Portfolio's greater exposure to deeper value stocks, as measured by book-to-market, was also beneficial as these stocks generally outperformed the Index. The Portfolio's exclusion of real estate investment trusts ("REITs") also contributed to the Portfolio's outperformance relative to the Index as REITs underperformed during the period. 24 INTERNATIONAL SMALL COMPANY PORTFOLIO The International Small Company Portfolio seeks to capture the returns of international small company stocks by purchasing shares of five Master Funds that invest individually in Canada, the United Kingdom, Continental Europe (including Israel and excluding the U.K.), Japan, and the Asia Pacific region ex Japan. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Master Funds collectively held approximately 4,200 securities in 22 eligible developed markets. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 30.66% for the Portfolio and 27.81% for the MSCI World ex USA Small Cap Index (net dividends). As a result of each Master Fund's diversified investment approach, the Portfolio's performance was determined principally by broad structural trends in international equity markets rather than the behavior of a limited number of stocks. The Portfolio had a lesser allocation to Canadian securities, which contributed to the Portfolio's outperformance relative to the Index as Canadian securities significantly underperformed. In addition, within the materials sector, the Portfolio's holdings in Canada and Australia significantly outperformed those of the Index. The Portfolio's exclusion of real estate investment trusts ("REITs") also contributed to the Portfolio's outperformance relative to the Index as REITs underperformed during the period. JAPANESE SMALL COMPANY PORTFOLIO The Japanese Small Company Portfolio seeks to capture the returns of Japanese small company stocks by purchasing shares of The Japanese Small Company Series, a Master Fund that invests in such securities. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Master Fund held approximately 1,400 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Master Fund's assets. For the 12 months ended October 31, 2013, total returns were 30.06% for the Portfolio and 30.99% for the MSCI Japan Small Cap Index (net dividends). The Master Fund's lesser exposure than the Index to GungHo Online Entertainment, Inc., an online gaming company that significantly outperformed, was primarily responsible for the Portfolio's underperformance relative to the Index. To a lesser extent, the Master Fund's exclusion of real estate investment trusts ("REITs") benefited the Portfolio's relative performance as REITs underperformed during the period. ASIA PACIFIC SMALL COMPANY PORTFOLIO The Asia Pacific Small Company Portfolio seeks to capture the returns of small company stocks in Australia, Hong Kong, New Zealand, and Singapore, by purchasing shares of The Asia Pacific Small Company Series, a Master Fund that invests in such securities. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Master Fund held approximately 940 securities across the eligible countries. Country allocations generally reflect the approximate weights of individual securities within a universe of these countries' stocks constructed by the Advisor. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Master Fund's assets. For the 12 months ended October 31, 2013, total returns were 10.46% for the Portfolio and 6.83% for the MSCI Pacific ex Japan Small Cap Index (net dividends). As a result of the Master Fund's diversified investment approach, performance was determined principally by broad structural trends in Asia Pacific equity markets rather than the behavior of a limited number of stocks. The Master Fund's greater weight in the consumer discretionary sector and lesser weight in the materials sector contributed to the Portfolio's outperformance relative to the Index as consumer discretionary generally outperformed and materials generally underperformed. The Master Fund's exclusion of real estate investment trusts ("REITs") also had a small positive impact on the Portfolio's relative performance as REITs underperformed during the period. UNITED KINGDOM SMALL COMPANY PORTFOLIO The United Kingdom Small Company Portfolio seeks to capture the returns of U.K. small company stocks by purchasing shares of The United Kingdom Small Company Series, a Master Fund that invests in such securities. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Master Fund held approximately 350 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Master Fund's assets. 25 For the 12 months ended October 31, 2013, total returns were 36.81% for the Portfolio and 35.72% for the MSCI UK Small Cap Index (net dividends). As a result of the Master Fund's diversified investment approach, performance was determined principally by broad structural trends in the U.K. equity market, rather than the behavior of a limited number of stocks. The Master Fund had a lesser allocation to the energy sector, which contributed to the Portfolio's outperformance relative to the Index as energy significantly underperformed. The Master Fund's exclusion of real estate investment trusts ("REITs") also contributed to the Portfolio's outperformance relative to the Index as REITs underperformed during the period. To a lesser extent, differences in the valuation timing and methodology between the Master Fund and the Index generally detracted from the Portfolio's relative performance. The Master Fund prices foreign exchange rates at the closing of the U.S. markets while the Index uses rates at 4 pm London time. The Master Fund also may use fair value pricing to price certain portfolio securities at the closing of the U.S. markets while the Index uses local market closing prices. CONTINENTAL SMALL COMPANY PORTFOLIO The Continental Small Company Portfolio seeks to capture the returns of small company stocks in the developed markets of Europe (excluding the U.K.) and Israel, by purchasing shares of The Continental Small Company Series, a Master Fund that invests in such securities. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Master Fund held approximately 1,200 securities in 14 eligible developed continental European countries and Israel. Country allocations generally reflect the approximate weights of individual securities within a universe of continental European and Israeli small company stocks constructed by the Advisor. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Master Fund's assets. For the 12 months ended October 31, 2013, total returns were 42.99% for the Portfolio and 42.99% for the MSCI Europe ex UK Small Cap Index (net dividends). As a result of the Master Fund's diversified investment approach, performance was determined principally by broad structural trends in the continental European (excluding the U.K.) and Israeli equity markets, rather than the behavior of a limited number of stocks. The Master Fund's exclusion of real estate investment trusts ("REITs") had a positive impact on the Portfolio's relative performance as REITs underperformed during the period. To a lesser extent, differences in the valuation timing and methodology between the Master Fund and the Index generally detracted from the Portfolio's relative performance. The Master Fund prices foreign exchange rates at the closing of the U.S. markets while the Index uses rates at 4 pm London time. The Master Fund also may use fair value pricing to price certain portfolio securities at the closing of the U.S. markets while the Index uses local market closing prices. DFA INTERNATIONAL REAL ESTATE SECURITIES PORTFOLIO The DFA International Real Estate Securities Portfolio is designed to capture the returns of a broadly diversified portfolio of real estate securities in international markets. As of October 31, 2013, the Portfolio held approximately 220 securities in 20 approved developed and emerging market countries. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of portfolio assets. For the 12 months ended October 31, 2013, total returns were 9.24% for the Portfolio and 9.05% for the S&P Global ex US REIT Index (net dividends). As a result of the Portfolio's diversified approach, performance was determined principally by structural trends in international real estate securities markets rather than the behavior of a limited number of stocks. Withholding tax rate differences between the Portfolio and the Index contributed to the Portfolio's outperformance relative to the Index. DFA GLOBAL REAL ESTATE SECURITIES PORTFOLIO The DFA Global Real Estate Securities Portfolio, a fund of funds, is designed to capture the returns of a broadly diversified portfolio of real estate securities in U.S. and international markets. As of October 31, 2013, the Portfolio invested in the DFA International Real Estate Securities Portfolio and the DFA Real Estate Securities Portfolio (the "Underlying Funds"). As of that date, the Underlying Funds held approximately 350 securities in 21 approved developed and emerging markets countries. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. 26 For the 12 months ended October 31, 2013, total returns were 9.74% for the Portfolio and 9.77% for the S&P Global REIT Index (net dividends). As a result of the Portfolio's diversified approach, performance was principally determined by structural trends in global real estate securities markets rather than the behavior of a limited number of stocks. The Portfolio generally performed in-line with the Index. DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO The DFA International Small Cap Value Portfolio seeks to capture the returns of international small company value stocks. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 2,000 securities in 22 eligible developed countries. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 37.79% for the Portfolio and 27.81% for the MSCI World ex USA Small Cap Index (net dividends). As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in international equity markets rather than the behavior of a limited number of stocks. Within the small cap universe, the Portfolio's greater exposure to value stocks, as measured by book-to-market, contributed to the Portfolio's outperformance relative to the Index as these stocks generally outperformed. Differences in holdings in the materials and industrials sectors also contributed significantly to the Portfolio's outperformance relative to the Index. The Portfolio's exclusion of real estate investment trusts ("REITs") also benefited the Portfolio's relative performance as REITs underperformed during the period. INTERNATIONAL VECTOR EQUITY PORTFOLIO The International Vector Equity Portfolio seeks to capture the returns of a broadly diversified basket of international stocks with increased exposure to smaller company stocks and those with value characteristics relative to the market. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 4,300 securities in 22 eligible developed markets. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 29.52% for the Portfolio and 24.65% for the MSCI World ex USA Index (net dividends). As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the international equity markets rather than by the behavior of a limited number of stocks. The Portfolio invests in stocks across all size categories while the Index primarily holds large cap and mid-cap stocks. International small cap stocks generally outperformed international mid cap and large cap stocks during the period, and the Portfolio's greater exposure to small cap stocks contributed to the Portfolio's outperformance relative to the Index. The Portfolio's greater exposure to deeper value stocks, as measured by book-to-market, was also beneficial as these stocks generally outperformed the Index. The Portfolio's exclusion of real estate investment trusts ("REITs") also contributed to the Portfolio's outperformance relative to the Index as REITs underperformed during the period. WORLD EX U.S. VALUE PORTFOLIO The World ex U.S. Value Portfolio seeks to capture the returns of value stocks across all market capitalizations in international developed and emerging markets by purchasing shares of three funds managed by Dimensional: The DFA International Value Series, The DFA International Small Cap Value Portfolio, and The Dimensional Emerging Markets Value Fund (the "Underlying Funds"). Value is measured primarily by book-to-market ratio. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Underlying Funds collectively held approximately 4,700 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 23.61% for the Portfolio and 20.29% for the MSCI All Country World ex USA Index (net dividends). As a result of the Underlying Funds' diversified investment approach, performance was determined principally by broad structural trends in the international and emerging equity markets rather than the behavior of a limited number of stocks. The Portfolio focuses on value stocks, as measured by book-to-market, while the Index is neutral with regard to value or growth. Value stocks generally outperformed growth stocks during the period, particularly in developed markets. The Portfolio had greater 27 exposure than the Index to value stocks, which contributed to the Portfolio's outperformance relative to the Index. The Underlying Funds invest in stocks across all size categories while the Index primarily holds large cap and mid-cap stocks. Small cap stocks generally outperformed large and mid cap stocks during the period, and the Portfolio's greater exposure to small cap stocks contributed to the Portfolio's outperformance relative to the Index. The Underlying Funds' exclusion of real estate investment trusts ("REITs") also benefited the Portfolio's relative performance as REITs underperformed during the period. Differences in the valuation timing and methodology between the Portfolio and the Index generally detracted from the Portfolio's relative performance. The Underlying Funds price foreign exchange rates at the closing of the U.S. markets while the Index uses rates at 4 pm London time. The Portfolio also may use fair value pricing to price certain portfolio securities at the closing of the U.S. markets while the Index uses local market closing prices. WORLD EX U.S. TARGETED VALUE PORTFOLIO The World ex U.S. Targeted Value Portfolio seeks to capture the returns of value stocks in international developed and emerging markets by purchasing shares of four funds managed by Dimensional: The DFA International Small Cap Value Portfolio, the International Vector Equity Portfolio, the Dimensional Emerging Markets Value Fund, and the Emerging Markets Small Cap Series (the "Underlying Funds"). Value is measured primarily by book-to-market ratio. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Underlying Funds collectively held approximately 8,200 securities. In general, cash exposure was low throughout the period with an average cash balance of less than 1% of the Portfolio's assets. From the Portfolio's inception on November 1, 2012, through October 31, 2013, total returns were 26.90% for the Portfolio and 22.89% for the MSCI All Country World ex USA Small Cap Index (net dividends). As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the international equity markets rather than by the behavior of a limited number of stocks. The Underlying Funds focus on small and mid-cap securities that are considered value stocks, as measured by book-to-market, while the Index is neutral with regard to value or growth. Value stocks, particularly within the developed markets small cap universe, generally outperformed growth stocks during the period. The Portfolio had greater exposure than the Index to these stocks, which contributed to the Portfolio's outperformance relative to the Index. The Underlying Funds' exclusion of real estate investment trusts ("REITs") also benefited the Portfolio's relative performance as REITs underperformed during the period. WORLD EX U.S. CORE EQUITY PORTFOLIO The World ex U.S. Core Equity Portfolio seeks to capture the returns of international stocks in developed and emerging markets, with increased exposure to smaller company stocks and those with value characteristics, by purchasing shares of two funds managed by Dimensional: The International Core Equity Portfolio and the Emerging Markets Core Equity Portfolio (the "Underlying Funds"). Value is measured primarily by book-to-market ratio. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Underlying Funds collectively held approximately 8,800 securities. In general, cash exposure was low throughout the period with an average cash balance of less than 1% of the Portfolio's assets. From the Portfolio's inception on April 9, 2013, through October 31, 2013, total returns were 9.62% for the Portfolio and 11.08% for the MSCI All Country World ex USA Index (net dividends). As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the international equity markets rather than by the behavior of a limited number of stocks. The Portfolio had a higher than average cash balance around the time of its launch in April 2013. As developed and emerging market equities generally had positive returns in April, the higher cash balance was primarily responsible for the Portfolio's underperformance relative to the Index. The Portfolio's relative underperformance was partly offset by its greater exposure than the Index to small cap stocks and value stocks, both of which generally outperformed relative to the Index during the period. The Underlying Funds' exclusion of real estate investment trusts ("REITs") also benefited the Portfolio's relative performance as REITs underperformed during the period. SELECTIVELY HEDGED GLOBAL EQUITY PORTFOLIO The Selectively Hedged Global Equity Portfolio seeks long-term capital appreciation by investing in a combination of mutual funds managed by Dimensional. As of the date of this report, the mutual funds invested in by 28 the Portfolio include the U.S. Core Equity 2 Portfolio, International Core Equity Portfolio, and Emerging Markets Core Equity Portfolio (the "Underlying Funds"). The Portfolio hedges foreign currency exposure on a selective basis to capture positive forward currency premiums. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Underlying Funds held approximately 12,000 equity securities in 44 countries. For the 12 months ended October 31, 2013, total returns were 26.86% for the Portfolio and 23.29% for the MSCI All Country World Index (net dividends). As a result of the Underlying Funds' diversified investment approach, performance was determined principally by broad structural trends in global equity markets rather than the behavior of a limited group of stocks in a particular industry or country. The Underlying Funds invest in stocks across all size categories while the Index primarily holds large cap and mid-cap stocks. The Portfolio had greater exposure than the Index to value stocks, as measured by book-to-market ratio. This emphasis on small cap and value, particularly in the U.S., was primarily responsible for the Portfolio's outperformance relative to the Index as small cap stocks and value stocks generally outperformed large and mid cap stocks and growth stocks, respectively, during the period. The Underlying Funds' exclusion of real estate investment trusts ("REITs") also contributed to the Portfolio's outperformance relative to the Index as REITs generally underperformed during the period. The Portfolio had greater exposure than the Index to emerging markets, which detracted from the Portfolio's relative performance as emerging markets generally underperformed during the period. The Portfolio's currency hedging in Japanese yen also contributed to the Portfolio's outperformance relative to the Index during the period. EMERGING MARKETS PORTFOLIO The Emerging Markets Portfolio seeks to capture the returns of large cap stocks in selected emerging markets countries by purchasing shares of The Emerging Markets Series, a Master Fund that invests in such securities. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Master Fund held approximately 1,000 securities across 21 eligible emerging markets. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Master Fund's assets. For the 12 months ended October 31, 2013, total returns were 6.58% for the Portfolio and 6.53% for the MSCI Emerging Markets Index (net dividends). As a result of the Master Fund's diversified approach, performance was generally determined by structural trends in emerging markets rather than the behavior of a limited number of stocks. Differences in country weights between the Master Fund and the Index contributed to relative performance differences. In addition, differences in holdings within the financial sector contributed to the Master Fund's outperformance relative to the Index. EMERGING MARKETS SMALL CAP PORTFOLIO The Emerging Markets Small Cap Portfolio seeks to capture the returns of small company stocks in selected emerging markets by purchasing shares of the Emerging Markets Small Cap Series, a Master Fund that invests in such securities. The Master Fund's investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Master Fund held approximately 3,100 securities across 17 eligible emerging markets. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Master Fund's assets. For the 12 months ended October 31, 2013, total returns were 8.92% for the Portfolio and 6.53% for the MSCI Emerging Markets Index (net dividends). As a result of the Master Fund's diversified approach, performance was principally determined by structural trends in emerging markets rather than the behavior of a limited number of stocks. The Master Fund focuses on small cap stocks while the Index primarily holds large cap and mid-cap stocks. Emerging markets small cap stocks generally outperformed emerging markets large cap stocks over the period. The Master Fund's significantly greater exposure to small cap stocks was primarily responsible for the Portfolio's outperformance relative to the Index. EMERGING MARKETS VALUE PORTFOLIO The Emerging Markets Value Portfolio seeks to capture the returns of value stocks of large and small companies in selected emerging markets by purchasing shares of the Dimensional Emerging Markets Value Fund, 29 a Master Fund that invests in such securities. Value is measured primarily by book-to-market ratio. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Master Fund held approximately 2,200 securities across 19 eligible emerging markets. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Master Fund's assets. For the 12 months ended October 31, 2013, total returns were 7.75% for the Portfolio's Class R2 shares, 8.01% for the Portfolio's Institutional Class shares, and 6.53% for the MSCI Emerging Markets Index (net dividends). As a result of the Master Fund's diversified investment approach, performance was generally determined by broad structural trends in emerging markets rather than the behavior of a limited number of stocks. The Master Fund invests in stocks across all size categories while the Index primarily holds large and mid-cap stocks. Emerging markets small cap stocks generally outperformed emerging markets large cap stocks during the period. The Master Fund's greater exposure to small cap stocks value was primarily responsible for the Portfolio's outperformance relative to the Index. The Master Fund's greater exposure to value stocks, as measured by book-to-market, was also beneficial as these stocks generally outperformed the Index. EMERGING MARKETS CORE EQUITY PORTFOLIO The Emerging Markets Core Equity Portfolio seeks to capture the returns of a broad universe of stocks in selected emerging markets with increased exposure to smaller company stocks and those stocks with value characteristics, as measured by book-to-market. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 3,900 securities across 21 eligible emerging markets. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 7.75% for the Portfolio and 6.53% for the MSCI Emerging Markets Index (net dividends). As a result of the Portfolio's diversified approach, performance was generally determined by structural trends in emerging markets rather than the behavior of a limited number of stocks. The Portfolio invests in stocks across all size categories while the Index primarily holds large and mid-cap stocks. Emerging markets small cap stocks generally outperformed emerging markets large cap stocks during the period. The Portfolio's greater exposure to small cap stocks was primarily responsible for the Portfolio's outperformance relative to the Index. The Portfolio's greater exposure to value stocks, as measured by book-to-market, also contributed to the Portfolio's relative performance as these stocks generally outperformed the Index. 30 DFA INVESTMENT DIMENSIONS GROUP INC. DISCLOSURE OF FUND EXPENSES (UNAUDITED) The following Expense Tables are shown so that you can understand the impact of fees on your investment. All mutual funds have operating expenses. As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports, among others. Operating expenses, legal and audit services, which are deducted from a fund's gross income, directly reduce the investment return of the fund. A fund's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs, in dollars, of investing in the fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period. The Expense Tables below illustrate your fund's costs in two ways. ACTUAL FUND RETURN This section helps you to estimate the actual expenses after fee waivers that you paid over the period. The "Ending Account Value" shown is derived from the fund's actual return and "Expenses Paid During Period" reflect the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. To do so, simply divide your account value by $1,000 (for example, a $7,500 account value divided by $1,000 = 7.5), then multiply the result by the number given for your fund under the heading "Expenses Paid During Period." HYPOTHETICAL EXAMPLE FOR COMPARISON PURPOSES This section is intended to help you compare your fund's costs with those of other mutual funds. The hypothetical "Ending Account Value" and "Expenses Paid During Period" are derived from the fund's actual expense ratio and an assumed 5% annual return before expenses. In this case, because the return used is not the fund's actual return, the results do not apply to your investment. The example is useful in making comparisons because the SEC requires all mutual funds to calculate expenses based on a 5% annual return. You can assess your fund's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. Please note that the expenses shown in the tables are meant to highlight and help you compare ongoing costs only and do not reflect any transactional costs, if applicable. The "Annualized Expense Ratio" represents the actual expenses for the six-month period indicated. SIX MONTHS ENDED OCTOBER 31, 2013 EXPENSE TABLES BEGINNING ENDING EXPENSES ACCOUNT ACCOUNT ANNUALIZED PAID VALUE VALUE EXPENSE DURING 05/01/13 10/31/13 RATIO* PERIOD* --------- --------- ---------- -------- ENHANCED U.S. LARGE COMPANY PORTFOLIO ------------------------------------- Actual Fund Return Institutional Class Shares........... $1,000.00 $1,110.50 0.24% $1.28 Hypothetical 5% Annual Return Institutional Class Shares........... $1,000.00 $1,024.00 0.24% $1.22 U.S. LARGE CAP EQUITY PORTFOLIO+ -------------------------------- Actual Fund Return Institutional Class Shares........... $1,000.00 $1,110.10 0.19% $0.70 Hypothetical 5% Annual Return Institutional Class Shares........... $1,000.00 $1,024.25 0.19% $0.97 31 DISCLOSURE OF FUND EXPENSES CONTINUED BEGINNING ENDING EXPENSES ACCOUNT ACCOUNT ANNUALIZED PAID VALUE VALUE EXPENSE DURING 05/01/13 10/31/13 RATIO* PERIOD* --------- --------- ---------- -------- U.S. LARGE CAP VALUE PORTFOLIO** -------------------------------- Actual Fund Return Institutional Class Shares...... $1,000.00 $1,144.80 0.27% $1.46 Hypothetical 5% Annual Return Institutional Class Shares...... $1,000.00 $1,023.84 0.27% $1.38 U.S. TARGETED VALUE PORTFOLIO ----------------------------- Actual Fund Return Class R1 Shares................. $1,000.00 $1,182.90 0.46% $2.53 Class R2 Shares................. $1,000.00 $1,181.40 0.62% $3.41 Institutional Class Shares...... $1,000.00 $1,182.60 0.37% $2.04 Hypothetical 5% Annual Return Class R1 Shares................. $1,000.00 $1,022.89 0.46% $2.35 Class R2 Shares................. $1,000.00 $1,022.08 0.62% $3.16 Institutional Class Shares...... $1,000.00 $1,023.34 0.37% $1.89 U.S. SMALL CAP VALUE PORTFOLIO ------------------------------ Actual Fund Return Institutional Class Shares...... $1,000.00 $1,172.70 0.52% $2.85 Hypothetical 5% Annual Return Institutional Class Shares...... $1,000.00 $1,022.58 0.52% $2.65 U.S. CORE EQUITY 1 PORTFOLIO ---------------------------- Actual Fund Return Institutional Class Shares...... $1,000.00 $1,139.70 0.19% $1.02 Hypothetical 5% Annual Return Institutional Class Shares...... $1,000.00 $1,024.25 0.19% $0.97 U.S. CORE EQUITY 2 PORTFOLIO ---------------------------- Actual Fund Return Institutional Class Shares...... $1,000.00 $1,146.40 0.22% $1.19 Hypothetical 5% Annual Return Institutional Class Shares...... $1,000.00 $1,024.10 0.22% $1.12 U.S. VECTOR EQUITY PORTFOLIO ---------------------------- Actual Fund Return Institutional Class Shares...... $1,000.00 $1,164.10 0.32% $1.75 Hypothetical 5% Annual Return Institutional Class Shares...... $1,000.00 $1,023.59 0.32% $1.63 U.S. SMALL CAP PORTFOLIO ------------------------ Actual Fund Return Institutional Class Shares...... $1,000.00 $1,193.10 0.37% $2.05 Hypothetical 5% Annual Return Institutional Class Shares...... $1,000.00 $1,023.34 0.37% $1.89 32 DISCLOSURE OF FUND EXPENSES CONTINUED BEGINNING ENDING EXPENSES ACCOUNT ACCOUNT ANNUALIZED PAID VALUE VALUE EXPENSE DURING 05/01/13 10/31/13 RATIO* PERIOD* --------- --------- ---------- -------- U.S. MICRO CAP PORTFOLIO ------------------------ Actual Fund Return Institutional Class Shares.............. $1,000.00 $1,213.50 0.52% $2.90 Hypothetical 5% Annual Return Institutional Class Shares.............. $1,000.00 $1,022.58 0.52% $2.65 DFA REAL ESTATE SECURITIES PORTFOLIO ------------------------------------ Actual Fund Return Institutional Class Shares.............. $1,000.00 $ 929.70 0.18% $0.88 Hypothetical 5% Annual Return Institutional Class Shares.............. $1,000.00 $1,024.30 0.18% $0.92 LARGE CAP INTERNATIONAL PORTFOLIO --------------------------------- Actual Fund Return Institutional Class Shares.............. $1,000.00 $1,086.20 0.28% $1.47 Hypothetical 5% Annual Return Institutional Class Shares.............. $1,000.00 $1,023.79 0.28% $1.43 INTERNATIONAL CORE EQUITY PORTFOLIO ----------------------------------- Actual Fund Return Institutional Class Shares.............. $1,000.00 $1,109.20 0.38% $2.02 Hypothetical 5% Annual Return Institutional Class Shares.............. $1,000.00 $1,023.29 0.38% $1.94 INTERNATIONAL SMALL COMPANY PORTFOLIO*** ---------------------------------------- Actual Fund Return Institutional Class Shares.............. $1,000.00 $1,132.40 0.53% $2.85 Hypothetical 5% Annual Return Institutional Class Shares.............. $1,000.00 $1,022.53 0.53% $2.70 JAPANESE SMALL COMPANY PORTFOLIO** ---------------------------------- Actual Fund Return Institutional Class Shares.............. $1,000.00 $1,033.70 0.54% $2.77 Hypothetical 5% Annual Return Institutional Class Shares.............. $1,000.00 $1,022.48 0.54% $2.75 ASIA PACIFIC SMALL COMPANY PORTFOLIO** -------------------------------------- Actual Fund Return Institutional Class Shares.............. $1,000.00 $1,000.40 0.55% $2.77 Hypothetical 5% Annual Return Institutional Class Shares.............. $1,000.00 $1,022.43 0.55% $2.80 UNITED KINGDOM SMALL COMPANY PORTFOLIO** ---------------------------------------- Actual Fund Return Institutional Class Shares.............. $1,000.00 $1,190.40 0.59% $3.26 Hypothetical 5% Annual Return Institutional Class Shares.............. $1,000.00 $1,022.23 0.59% $3.01 33 DISCLOSURE OF FUND EXPENSES CONTINUED BEGINNING ENDING EXPENSES ACCOUNT ACCOUNT ANNUALIZED PAID VALUE VALUE EXPENSE DURING 05/01/13 10/31/13 RATIO* PERIOD* --------- --------- ---------- -------- CONTINENTAL SMALL COMPANY PORTFOLIO** ------------------------------------- Actual Fund Return Institutional Class Shares........................ $1,000.00 $1,230.40 0.57% $3.20 Hypothetical 5% Annual Return Institutional Class Shares........................ $1,000.00 $1,022.33 0.57% $2.91 DFA INTERNATIONAL REAL ESTATE SECURITIES PORTFOLIO -------------------------------------------------- Actual Fund Return Institutional Class Shares........................ $1,000.00 $ 946.50 0.39% $1.91 Hypothetical 5% Annual Return Institutional Class Shares........................ $1,000.00 $1,023.24 0.39% $1.99 DFA GLOBAL REAL ESTATE SECURITIES PORTFOLIO*** ---------------------------------------------- Actual Fund Return Institutional Class Shares........................ $1,000.00 $ 936.50 0.32% $1.56 Hypothetical 5% Annual Return Institutional Class Shares........................ $1,000.00 $1,023.59 0.32% $1.63 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO ------------------------------------------- Actual Fund Return Institutional Class Shares........................ $1,000.00 $1,152.70 0.67% $3.64 Hypothetical 5% Annual Return Institutional Class Shares........................ $1,000.00 $1,021.83 0.67% $3.41 INTERNATIONAL VECTOR EQUITY PORTFOLIO ------------------------------------- Actual Fund Return Institutional Class Shares........................ $1,000.00 $1,117.00 0.51% $2.72 Hypothetical 5% Annual Return Institutional Class Shares........................ $1,000.00 $1,022.63 0.51% $2.60 WORLD EX U.S. VALUE PORTFOLIO*** -------------------------------- Actual Fund Return Institutional Class Shares........................ $1,000.00 $1,094.70 0.60% $3.17 Hypothetical 5% Annual Return Institutional Class Shares........................ $1,000.00 $1,022.18 0.60% $3.06 WORLD EX U.S. TARGETED VALUE PORTFOLIO*** ----------------------------------------- Actual Fund Return Institutional Class Shares........................ $1,000.00 $1,098.80 0.79% $4.18 Hypothetical 5% Annual Return Institutional Class Shares........................ $1,000.00 $1,021.22 0.79% $4.02 WORLD EX U.S. CORE EQUITY PORTFOLIO*** -------------------------------------- Actual Fund Return Institutional Class Shares........................ $1,000.00 $1,078.90 0.47% $2.46 Hypothetical 5% Annual Return Institutional Class Shares........................ $1,000.00 $1,022.84 0.47% $2.40 34 DISCLOSURE OF FUND EXPENSES CONTINUED BEGINNING ENDING EXPENSES ACCOUNT ACCOUNT ANNUALIZED PAID VALUE VALUE EXPENSE DURING 05/01/13 10/31/13 RATIO* PERIOD* --------- --------- ---------- -------- SELECTIVELY HEDGED GLOBAL EQUITY PORTFOLIO*** --------------------------------------------- Actual Fund Return Institutional Class Shares................... $1,000.00 $1,100.10 0.40% $2.12 Hypothetical 5% Annual Return Institutional Class Shares................... $1,000.00 $1,023.19 0.40% $2.04 EMERGING MARKETS PORTFOLIO** ---------------------------- Actual Fund Return Institutional Class Shares................... $1,000.00 $1,005.10 0.55% $2.78 Hypothetical 5% Annual Return Institutional Class Shares................... $1,000.00 $1,022.43 0.55% $2.80 EMERGING MARKETS SMALL CAP PORTFOLIO** -------------------------------------- Actual Fund Return Institutional Class Shares................. $1,000.00 $ 965.50 0.71% $3.52 Hypothetical 5% Annual Return Institutional Class Shares................. $1,000.00 $1,021.63 0.71% $3.62 EMERGING MARKETS VALUE PORTFOLIO** ---------------------------------- Actual Fund Return Class R2 Shares.............................. $1,000.00 $ 995.20 0.79% $3.97 Institutional Class Shares................... $1,000.00 $ 996.40 0.54% $2.72 Hypothetical 5% Annual Return Class R2 Shares.............................. $1,000.00 $1,021.22 0.79% $4.02 Institutional Class Shares................... $1,000.00 $1,022.48 0.54% $2.75 EMERGING MARKETS CORE EQUITY PORTFOLIO -------------------------------------- Actual Fund Return Institutional Class Shares................... $1,000.00 $ 996.20 0.61% $3.07 Hypothetical 5% Annual Return Institutional Class Shares................. $1,000.00 $1,022.13 0.61% $3.11 ---------- * Expenses are equal to the fund's annualized expense ratio for the six-month period, multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period (184), then divided by the number of days in the year (365) to reflect the six-month period. **The Portfolio is a Feeder Fund. The expenses shown reflect the direct expenses of the Feeder Fund and the indirect payment of the Feeder Fund's portion of the expenses of its Master Fund (Affiliated Investment Company). ***The Portfolio is a Fund of Funds. The expenses shown reflect the direct expenses of the Fund of Funds and the indirect payment of the Fund of Funds' portion of the expenses of its Master Funds (Affiliated Investment Companies). + U.S. Large Cap Equity Portfolio commenced operations on June 25, 2013. Expenses are equal to the fund's annualized expense ratio for the period, multiplied by the average account value over the period, multiplied by the number of days since inception (129), then divided by the number of days in the year (365) to reflect the period. The "Ending Account Value" is derived from the fund's share class actual return since inception. The "Hypothetical 5% Annual Return" information reflects the 184 day period for the six months ended October 31, 2013 to allow for comparability. 35 DFA INVESTMENT DIMENSIONS GROUP INC. DISCLOSURE OF PORTFOLIO HOLDINGS (UNAUDITED) The SEC requires that all funds file a complete Schedule of Investments with the SEC for their first and third fiscal quarters on Form N-Q. For DFA Investment Dimensions Group Inc., this would be for the fiscal quarters ending January 31 and July 31. The Form N-Q filing must be made within 60 days of the end of the quarter. DFA Investment Dimensions Group Inc. filed its most recent Form N-Q with the SEC on September 27, 2013. It is available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room). SEC regulations permit a fund to include in its reports to shareholders a "Summary Schedule of Portfolio Holdings" in lieu of a full Schedule of Investments. The Summary Schedule of Portfolio Holdings reports the fund's 50 largest holdings in unaffiliated issuers and any investments that exceed one percent of the fund's net assets at the end of the reporting period. The amendments also require that the Summary Schedule of Portfolio Holdings identify each category of investments that are held. A fund is required to file a complete Schedule of Investments with the SEC on Form N-CSR within ten days after mailing the annual and semi-annual reports to shareholders. It will be available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room). PORTFOLIO HOLDINGS The SEC requires that all funds present their categories of portfolio holdings in a table, chart or graph format in their annual and semi-annual shareholder reports, whether or not a Schedule of Investments is utilized. The following table, which presents portfolio holdings as a percent of total investments before short-term investments and collateral for loaned securities, is provided in compliance with such requirement. The categories shown below represent broad industry sectors. Each industry sector consists of one or more specific industry classifications. The categories of industry classification for the Affiliated Investment Companies are represented in their Disclosures of Portfolio Holdings, which are included elsewhere within the report. Refer to the Schedule of Investments/Summary Schedule of Portfolio Holdings for each of the underlying Affiliated Investment Companies' holdings which reflect the investments by category or country. FEEDER FUNDS AFFILIATED INVESTMENT COMPANIES ------------------------------- U.S. Large Cap Value Portfolio......... 100.0% Japanese Small Company Portfolio....... 100.0% Asia Pacific Small Company Portfolio... 100.0% United Kingdom Small Company Portfolio. 100.0% Continental Small Company Portfolio.... 100.0% Emerging Markets Portfolio............. 100.0% Emerging Markets Small Cap Portfolio... 100.0% Emerging Markets Value Portfolio....... 100.0% 36 DISCLOSURE OF PORTFOLIO HOLDINGS CONTINUED FUND OF FUNDS International Small Company Portfolio....... 100.0% DFA Global Real Estate Securities Portfolio. 100.0% World ex U.S. Value Portfolio............... 100.0% World ex U.S. Targeted Value Portfolio...... 100.0% World ex U.S. Core Equity Portfolio......... 100.0% Selectively Hedged Global Equity Portfolio.. 100.0% ENHANCED DOMESTIC EQUITY PORTFOLIO ENHANCED U.S LARGE COMPANY PORTFOLIO Corporate.................................... 25.9% Government................................... 40.9% Foreign Corporate............................ 15.0% Foreign Government........................... 14.7% Supranational................................ 3.5% ----- 100.0% DOMESTIC AND INTERNATIONAL EQUITY PORTFOLIOS U.S. LARGE CAP EQUITY PORTFOLO Consumer Discretionary....................... 14.3% Consumer Staples............................. 9.2% Energy....................................... 10.9% Financials................................... 13.7% Health Care.................................. 11.9% Industrials.................................. 12.9% Information Technology....................... 17.8% Materials.................................... 4.4% Telecommunication Services................... 2.5% Utilities.................................... 2.4% ----- 100.0% U.S. TARGETED VALUE PORTFOLIO Consumer Discretionary....................... 13.7% Consumer Staples............................. 3.4% Energy....................................... 10.6% Financials................................... 25.7% Health Care.................................. 6.4% Industrials.................................. 15.8% Information Technology....................... 14.8% Materials.................................... 7.5% Other........................................ -- Real Estate Investment Trusts................ 0.2% Telecommunication Services................... 1.4% Utilities.................................... 0.5% ----- 100.0% U.S. SMALL CAP VALUE PORTFOLIO Consumer Discretionary....................... 16.1% Consumer Staples............................. 3.9% Energy....................................... 10.5% Financials................................... 27.0% Health Care.................................. 4.3% Industrials.................................. 17.3% Information Technology....................... 13.9% Materials.................................... 6.3% Other........................................ -- Real Estate Investment Trusts................ 0.2% Telecommunication Services................... 0.4% Utilities.................................... 0.1% ----- 100.0% U.S. CORE EQUITY 1 PORTFOLIO Consumer Discretionary....................... 14.6% Consumer Staples............................. 7.3% Energy....................................... 10.4% Financials................................... 17.3% Health Care.................................. 11.2% Industrials.................................. 13.2% Information Technology....................... 16.3% Materials.................................... 4.7% Other........................................ -- Telecommunication Services................... 2.0% Utilities.................................... 3.0% ----- 100.0% U.S. CORE EQUITY 2 PORTFOLIO Consumer Discretionary....................... 14.2% Consumer Staples............................. 6.1% Energy....................................... 11.6% Financials................................... 20.2% Health Care.................................. 10.7% Industrials.................................. 13.7% Information Technology....................... 14.0% Materials.................................... 4.9% Other........................................ -- Telecommunication Services................... 2.5% Utilities.................................... 2.1% ----- 100.0% U.S. VECTOR EQUITY PORTFOLIO Consumer Discretionary....................... 15.0% Consumer Staples............................. 5.1% Energy....................................... 11.5% Financials................................... 24.5% Health Care.................................. 8.2% Industrials.................................. 13.9% Information Technology....................... 12.7% Materials.................................... 6.0% Other........................................ -- Telecommunication Services................... 1.9% Utilities.................................... 1.2% ----- 100.0% 37 DISCLOSURE OF PORTFOLIO HOLDINGS CONTINUED U.S. SMALL CAP PORTFOLIO Consumer Discretionary....................... 18.8% Consumer Staples............................. 4.4% Energy....................................... 5.2% Financials................................... 16.8% Health Care.................................. 9.6% Industrials.................................. 18.2% Information Technology....................... 18.0% Materials.................................... 5.1% Other........................................ -- Real Estate Investment Trusts................ 0.2% Telecommunication Services................... 0.6% Utilities.................................... 3.1% ----- 100.0% U.S. MICRO CAP PORTFOLIO Consumer Discretionary....................... 19.3% Consumer Staples............................. 4.3% Energy....................................... 5.2% Financials................................... 17.5% Health Care.................................. 9.4% Industrials.................................. 17.8% Information Technology....................... 17.8% Materials.................................... 6.0% Other........................................ -- Telecommunication Services................... 1.1% Utilities.................................... 1.6% ----- 100.0% DFA REAL ESTATE SECURITIES PORTFOLIO Real Estate Investment Trusts................ 100.0% ----- 100.0% LARGE CAP INTERNATIONAL PORTFOLIO Consumer Discretionary....................... 11.6% Consumer Staples............................. 10.3% Energy....................................... 8.8% Financials................................... 25.8% Health Care.................................. 9.2% Industrials.................................. 12.6% Information Technology....................... 4.2% Materials.................................... 9.1% Other........................................ -- Telecommunication Services................... 5.2% Utilities.................................... 3.2% ----- 100.0% INTERNATIONAL CORE EQUITY PORTFOLIO Consumer Discretionary....................... 13.7% Consumer Staples............................. 6.6% Energy....................................... 8.7% Financials................................... 26.6% Health Care.................................. 5.3% Industrials.................................. 16.9% Information Technology....................... 5.5% Materials.................................... 10.6% Other........................................ -- Telecommunication Services................... 3.2% Utilities.................................... 2.9% ----- 100.0% DFA INTERNATIONAL REAL ESTATE SECURITIES PORTFOLIO Consumer Discretionary....................... 0.1% Financials................................... 0.5% Health Care.................................. -- Other........................................ -- Real Estate Investment Trusts................ 99.4% ----- 100.0% DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO Consumer Discretionary....................... 20.6% Consumer Staples............................. 3.6% Energy....................................... 4.7% Financials................................... 19.8% Health Care.................................. 2.0% Industrials.................................. 27.9% Information Technology....................... 4.9% Materials.................................... 15.9% Other........................................ -- Telecommunication Services................... 0.3% Utilities.................................... 0.3% ----- 100.0% INTERNATIONAL VECTOR EQUITY PORTFOLIO Consumer Discretionary....................... 14.6% Consumer Staples............................. 5.8% Energy....................................... 8.0% Financials................................... 25.5% Health Care.................................. 4.3% Industrials.................................. 19.1% Information Technology....................... 6.1% Materials.................................... 12.2% Other........................................ -- Telecommunication Services................... 2.3% Utilities.................................... 2.1% ----- 100.0% EMERGING MARKETS CORE EQUITY PORTFOLIO Consumer Discretionary....................... 10.7% Consumer Staples............................. 7.5% Energy....................................... 9.8% Financials................................... 25.0% Health Care.................................. 2.5% Industrials.................................. 10.8% Information Technology....................... 13.4% Materials.................................... 12.4% Other........................................ -- Real Estate Investment Trusts................ 0.1% Telecommunication Services................... 4.2% Utilities.................................... 3.6% ----- 100.0% 38 ENHANCED U.S. LARGE COMPANY PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 FACE AMOUNT^ VALUE+ ------- ------ (000) BONDS -- (55.2%) AUSTRALIA -- (4.3%) Commonwealth Bank of Australia ^^ 3.500%, 03/19/15............................. 4,000 $ 4,158,428 Westpac Banking Corp. ^^ 1.125%, 09/25/15............................. 4,930 4,979,975 ------------ TOTAL AUSTRALIA.................................. 9,138,403 ------------ BELGIUM -- (1.2%) Belgium Government International Bond ^^ 2.750%, 03/05/15............................. 2,500 2,573,925 ------------ CANADA -- (8.9%) Bank of Nova Scotia ^^ 1.850%, 01/12/15............................. 5,000 5,081,080 Enbridge, Inc. ^^ 5.800%, 06/15/14............................. 1,100 1,131,541 Manitoba, Province of Canada ^^ 2.625%, 07/15/15............................. 4,500 4,666,410 Ontario, Province of Canada ^^ 0.950%, 05/26/15............................. 4,500 4,537,935 Thomson Reuters Corp. ^^ 5.700%, 10/01/14............................. 800 837,010 TransAlta Corp. ^^ 4.750%, 01/15/15............................. 925 963,619 TransCanada PipeLines, Ltd. ^^ 3.400%, 06/01/15............................. 1,500 1,565,930 ------------ TOTAL CANADA..................................... 18,783,525 ------------ FRANCE -- (2.0%) BNP Paribas SA ^^ 3.250%, 03/11/15............................. 1,500 1,550,738 Orange SA ^^ 4.375%, 07/08/14............................. 1,000 1,023,692 Total Capital SA ^^ 3.125%, 10/02/15............................. 1,587 1,663,003 ------------ TOTAL FRANCE..................................... 4,237,433 ------------ NETHERLANDS -- (6.7%) Bank Nederlandse Gemeenten ^^ 3.125%, 01/12/15............................. 1,500 1,548,684 Cooperatieve Centrale Raiffeisen- Boerenleenbank BA ^^ 2.500%, 12/12/13............................. 2,000 2,004,134 ^^ 2.125%, 10/13/15............................. 2,532 2,599,521 Nederlandse Waterschapsbank NV ^^ 3.000%, 03/17/15............................. 2,900 3,003,599 Netherlands Government Bond ^^ 0.250%, 09/12/15............................. 5,000 4,987,070 ------------ TOTAL NETHERLANDS................................ 14,143,008 ------------ FACE AMOUNT^ VALUE+ ------- ------ (000) NEW ZEALAND -- (2.4%) New Zealand Government Bond ^^ 6.000%, 04/15/15............................. NZD 6,000 $ 5,161,871 ------------ SUPRANATIONAL ORGANIZATION OBLIGATIONS -- (3.5%) Inter-American Development Bank ^^ 2.250%, 07/15/15............................. 2,500 2,580,848 International Finance Facility for Immunisation ^^ 3.375%, 05/15/14............................. GBP 3,000 4,873,596 ------------ TOTAL SUPRANATIONAL ORGANIZATION OBLIGATIONS..... 7,454,444 ------------ SWEDEN -- (2.1%) Svensk Exportkredit AB ^^ 0.625%, 09/04/15............................. 4,500 4,515,255 ------------ UNITED KINGDOM -- (2.0%) Barclays Bank P.L.C. ^^ 5.200%, 07/10/14............................. 300 309,725 BP Capital Markets P.L.C. ^^ 3.875%, 03/10/15............................. 1,500 1,566,489 Royal Bank of Scotland Group P.L.C. ^^ 2.550%, 09/18/15............................. 700 716,926 Vodafone Group P.L.C. ^^ 5.000%, 12/16/13............................. 1,000 1,005,330 ^^ 4.150%, 06/10/14............................. 500 510,728 ------------ TOTAL UNITED KINGDOM............................. 4,109,198 ------------ UNITED STATES -- (22.1%) American Express Co. ^^ 7.250%, 05/20/14............................. $ 1,100 1,140,621 American International Group, Inc. ^^ 3.000%, 03/20/15............................. 1,500 1,543,209 Amgen, Inc. ^^ 4.850%, 11/18/14............................. 1,900 1,984,955 Anheuser-Busch InBev Worldwide, Inc. ^^ 0.800%, 07/15/15............................. 1,000 1,004,595 Assurant, Inc. ^^ 5.625%, 02/15/14............................. 1,000 1,013,837 AT&T, Inc. ^^ 2.500%, 08/15/15............................. 1,606 1,652,152 Bank of America Corp. ^^ 7.375%, 05/15/14............................. 1,000 1,035,292 Capital One Financial Corp. ^^ 2.125%, 07/15/14............................. 1,000 1,010,868 Citigroup, Inc. ^^ 6.375%, 08/12/14............................. 762 795,436 39 ENHANCED U.S. LARGE COMPANY PORTFOLIO CONTINUED FACE AMOUNT^ VALUE+ ------- ------ (000) UNITED STATES -- (Continued) CNA Financial Corp. ^^ 5.850%, 12/15/14............................. 1,000 $ 1,053,937 Coca-Cola Enterprises, Inc. ^^ 1.125%, 11/12/13............................. 1,921 1,921,271 Constellation Energy Group, Inc. ^^ 4.550%, 06/15/15............................. 1,000 1,054,155 Daimler Finance North America LLC ^^ 6.500%, 11/15/13............................. 1,500 1,502,546 DIRECTV Holdings LLC / DIRECTV Financing Co., Inc. ^^ 4.750%, 10/01/14............................. 1,500 1,555,051 Enterprise Products Operating LLC ^^ 5.600%, 10/15/14............................. 500 523,424 Express Scripts Holding Co. ^^ 2.100%, 02/12/15............................. 1,000 1,015,780 Ford Motor Credit Co. LLC ^^ 2.750%, 05/15/15............................. 1,000 1,026,509 Freeport-McMoRan Copper & Gold, Inc. ^^ 1.400%, 02/13/15............................. 500 502,538 General Electric Capital Corp. ^^ 4.875%, 03/04/15............................. 1,200 1,268,087 Goldman Sachs Group, Inc. (The) ^^ 5.125%, 01/15/15............................. 894 939,233 Hartford Financial Services Group, Inc. ^^ 4.750%, 03/01/14............................. 1,580 1,599,780 HSBC USA, Inc. ^^ 2.375%, 02/13/15............................. 1,000 1,023,009 International Paper Co. ^^ 5.300%, 04/01/15............................. 1,050 1,112,894 JPMorgan Chase & Co. ^^ 2.050%, 01/24/14............................. 1,000 1,004,057 MetLife, Inc. ^^ 5.000%, 11/24/13............................. 350 350,882 Morgan Stanley ^^ 4.200%, 11/20/14............................. 1,500 1,554,595 National City Corp. ^^ 4.900%, 01/15/15............................. 1,500 1,576,506 NextEra Energy Capital Holdings, Inc. ^^ 1.200%, 06/01/15............................. 1,000 1,006,594 Safeway, Inc. ^^ 5.625%, 08/15/14............................. 1,500 1,542,330 Spectra Energy Capital LLC ^^ 5.500%, 03/01/14............................. 1,500 1,522,093 Time Warner Cable, Inc. ^^ 3.500%, 02/01/15............................. 1,000 1,028,576 Toyota Motor Credit Corp. ^^ 0.875%, 07/17/15............................. 2,000 2,014,134 Union Bank NA ^^ 2.125%, 12/16/13............................. 1,050 1,052,267 Viacom, Inc. ^^ 4.375%, 09/15/14............................. 1,500 1,547,665 WellPoint, Inc. ^^ 5.000%, 12/15/14............................. 1,572 1,647,264 FACE AMOUNT^ VALUE+ ------- ------ (000) UNITED STATES -- (Continued) Wells Fargo & Co. ^^ 1.500%, 07/01/15............................. 1,500 $ 1,520,779 Williams Partners L.P. ^^ 3.800%, 02/15/15............................. 1,000 1,036,267 Xerox Corp. ^^ 4.250%, 02/15/15............................. 1,000 1,041,707 ------------ TOTAL UNITED STATES.............................. 46,724,895 ------------ TOTAL BONDS...................................... 116,841,957 ------------ AGENCY OBLIGATIONS -- (26.4%) Federal Home Loan Bank ^^ 0.375%, 08/28/15............................. 11,000 11,016,093 ^^ 1.750%, 09/11/15............................. 4,000 4,104,364 Federal Home Loan Mortgage Corporation ^^ 1.750%, 09/10/15............................. 23,500 24,104,866 Federal National Mortgage Association ^^ 4.375%, 10/15/15............................. 5,000 5,390,740 ^^ 1.625%, 10/26/15............................. 11,000 11,273,592 ------------ TOTAL AGENCY OBLIGATIONS......................... 55,889,655 ------------ U.S. TREASURY OBLIGATIONS -- (14.7%) U.S. Treasury Notes ^^ 1.250%, 08/31/15............................. 5,000 5,088,085 ^^ 0.250%, 09/15/15............................. 26,000 25,978,680 ------------ TOTAL U.S. TREASURY OBLIGATIONS.................. 31,066,765 ------------ SHARES ------ - EXCHANGE-TRADED FUNDS -- (3.7%) UNITED STATES -- (3.7%) ^^ SPDR S&P 500 ETF Trust....................... 44,100 $ 7,749,693 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $207,572,600)............................ $211,548,070 ============ 40 ENHANCED U.S. LARGE COMPANY PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ---------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ----------- ------------ ------- ------------ Bonds Australia.............................. -- $ 9,138,403 -- $ 9,138,403 Belgium................................ -- 2,573,925 -- 2,573,925 Canada................................. -- 18,783,525 -- 18,783,525 France................................. -- 4,237,433 -- 4,237,433 Netherlands............................ -- 14,143,008 -- 14,143,008 New Zealand............................ -- 5,161,871 -- 5,161,871 Supranational Organization Obligations. -- 7,454,444 -- 7,454,444 Sweden................................. -- 4,515,255 -- 4,515,255 United Kingdom......................... -- 4,109,198 -- 4,109,198 United States.......................... -- 46,724,895 -- 46,724,895 Agency Obligations....................... -- 55,889,655 -- 55,889,655 U.S. Treasury Obligations................ -- 31,066,765 -- 31,066,765 Exchange-Traded Funds.................... $ 7,749,693 -- -- 7,749,693 Forward Currency Contracts**............. -- (217,267) -- (217,267) Futures Contracts**...................... 7,914,250 -- -- 7,914,250 ----------- ------------ -- ------------ TOTAL.................................... $15,663,943 $203,581,110 -- $219,245,053 =========== ============ == ============ **Not reflected in the Schedule of Investments, valued at the unrealized appreciation/(depreciation) on the investment. (Note H) See accompanying Notes to Financial Statements. 41 U.S. LARGE CAP EQUITY PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE+ OF NET ASSETS** ------ ------ --------------- COMMON STOCKS -- (78.8%) Consumer Discretionary -- (11.3%) #* Amazon.com, Inc................... 2,368 $ 862,023 0.6% # Comcast Corp. Class A............. 12,656 602,172 0.4% # Ford Motor Co..................... 29,889 511,401 0.4% Home Depot, Inc. (The)............ 10,741 836,616 0.6% McDonald's Corp................... 6,834 659,618 0.5% # Walt Disney Co. (The)............. 11,484 787,688 0.6% Other Securities.................. 14,923,649 11.1% ------------ ----- Total Consumer Discretionary.......... 19,183,167 14.2% ------------ ----- Consumer Staples -- (7.2%) Altria Group, Inc................. 15,353 571,592 0.4% Coca-Cola Co. (The)............... 24,123 954,547 0.7% CVS Caremark Corp................. 8,794 547,514 0.4% PepsiCo, Inc...................... 11,559 971,996 0.7% Philip Morris International, Inc.. 7,357 655,656 0.5% Procter & Gamble Co. (The)........ 16,427 1,326,480 1.0% Wal-Mart Stores, Inc.............. 14,077 1,080,410 0.8% Other Securities.................. 6,156,227 4.5% ------------ ----- Total Consumer Staples................ 12,264,422 9.0% ------------ ----- Energy -- (8.6%) Chevron Corp...................... 15,399 1,847,264 1.4% # ConocoPhillips.................... 9,824 720,099 0.5% Exxon Mobil Corp.................. 33,948 3,042,420 2.2% Occidental Petroleum Corp......... 6,368 611,837 0.4% Schlumberger, Ltd................. 9,413 882,186 0.6% Other Securities.................. 7,529,797 5.7% ------------ ----- Total Energy.......................... 14,633,603 10.8% ------------ ----- Financials -- (10.8%) Bank of America Corp.............. 60,004 837,656 0.6% * Berkshire Hathaway, Inc. Class B.. 7,001 805,675 0.6% Citigroup, Inc.................... 17,040 831,211 0.6% Goldman Sachs Group, Inc. (The)... 3,171 510,087 0.4% JPMorgan Chase & Co............... 21,278 1,096,668 0.8% Wells Fargo & Co.................. 35,385 1,510,586 1.1% Other Securities.................. 12,832,461 9.5% ------------ ----- Total Financials...................... 18,424,344 13.6% ------------ ----- Health Care -- (9.4%) AbbVie, Inc....................... 11,687 566,235 0.4% Amgen, Inc........................ 4,379 507,964 0.4% #* Gilead Sciences, Inc.............. 10,529 747,454 0.6% Johnson & Johnson................. 17,936 1,661,053 1.2% Merck & Co., Inc.................. 16,010 721,891 0.5% Pfizer, Inc....................... 42,830 1,314,024 1.0% UnitedHealth Group, Inc........... 8,727 595,705 0.4% Other Securities.................. 9,891,997 7.3% ------------ ----- Total Health Care..................... 16,006,323 11.8% ------------ ----- 42 U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** ------ ------ --------------- Industrials -- (10.1%) 3M Co.............................................. 5,226 $ 657,692 0.5% # Boeing Co. (The)................................... 5,477 714,749 0.5% # Caterpillar, Inc................................... 6,084 507,162 0.4% General Electric Co................................ 60,931 1,592,736 1.2% Union Pacific Corp................................. 3,705 560,937 0.4% # United Parcel Service, Inc. Class B................ 5,411 531,577 0.4% United Technologies Corp........................... 5,829 619,331 0.5% Other Securities................................... 12,050,736 8.8% ------------ ------ Total Industrials........................................ 17,234,920 12.7% ------------ ------ Information Technology -- (14.1%) Apple, Inc......................................... 7,301 3,813,677 2.8% Cisco Systems, Inc................................. 37,573 845,392 0.6% * Google, Inc. Class A............................... 1,196 1,232,574 0.9% # Intel Corp......................................... 49,134 1,200,344 0.9% International Business Machines Corp............... 5,277 945,691 0.7% Mastercard, Inc. Class A........................... 840 602,364 0.5% Microsoft Corp..................................... 58,934 2,083,317 1.5% Oracle Corp........................................ 22,445 751,907 0.6% QUALCOMM, Inc...................................... 10,063 699,077 0.5% # Visa, Inc. Class A................................. 2,928 575,850 0.4% Other Securities................................... 11,166,673 8.3% ------------ ------ Total Information Technology............................. 23,916,866 17.7% ------------ ------ Materials -- (3.5%) Other Securities................................... 5,926,778 4.4% ------------ ------ Telecommunication Services -- (2.0%) AT&T, Inc.......................................... 28,648 1,037,057 0.8% Verizon Communications, Inc........................ 29,531 1,491,611 1.1% Other Securities................................... 803,507 0.6% ------------ ------ Total Telecommunication Services......................... 3,332,175 2.5% ------------ ------ Utilities -- (1.8%) Other Securities................................... 3,161,345 2.3% ------------ ------ TOTAL COMMON STOCKS...................................... 134,083,943 99.0% ------------ ------ TEMPORARY CASH INVESTMENTS -- (1.3%) State Street Institutional Liquid Reserves, 0.073% 2,237,177 2,237,177 1.7% ------------ ------ SHARES/ FACE AMOUNT ------- - - (000) SECURITIES LENDING COLLATERAL -- (19.9%) (S)@ DFA Short Term Investment Fund..................... 2,917,225 33,752,290 24.9% ------------ ------ TOTAL INVESTMENTS -- (100.0%) (Cost $159,513,609).................................. $170,073,410 125.6% ============ ====== 43 U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) --------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ------------ ----------- ------- ------------ Common Stocks Consumer Discretionary...... $ 19,183,167 -- -- $ 19,183,167 Consumer Staples............ 12,264,422 -- -- 12,264,422 Energy...................... 14,633,603 -- -- 14,633,603 Financials.................. 18,424,344 -- -- 18,424,344 Health Care................. 16,006,323 -- -- 16,006,323 Industrials................. 17,234,920 -- -- 17,234,920 Information Technology...... 23,916,866 -- -- 23,916,866 Materials................... 5,926,778 -- -- 5,926,778 Telecommunication Services.. 3,332,175 -- -- 3,332,175 Utilities................... 3,161,345 -- -- 3,161,345 Temporary Cash Investments.... 2,237,177 -- -- 2,237,177 Securities Lending Collateral. -- $33,752,290 -- 33,752,290 ------------ ----------- -- ------------ TOTAL......................... $136,321,120 $33,752,290 -- $170,073,410 ============ =========== == ============ See accompanying Notes to Financial Statements. 44 U.S. LARGE CAP VALUE PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 VALUE+ --------------- AFFILIATED INVESTMENT COMPANY -- (100.0%) Investment in The U.S. Large Cap Value Series of The DFA Investment Trust Company..................... $11,967,119,572 --------------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANY (Cost $7,741,066,829)............................. $11,967,119,572 =============== Summary of the Portfolio's Master Fund's investments as of October 31, 2013, based on their valuation inputs, is located within this report (See Security Valuation Note). See accompanying Notes to Financial Statements. 45 U.S. TARGETED VALUE PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE+ OF NET ASSETS** ------ ------ --------------- COMMON STOCKS -- (86.6%) Consumer Discretionary -- (11.9%) #* Cabela's, Inc.......................... 289,665 $ 17,182,928 0.4% Dillard's, Inc. Class A................ 211,147 17,309,831 0.4% # GameStop Corp. Class A................. 635,798 34,854,446 0.8% * Live Nation Entertainment, Inc......... 924,308 17,968,548 0.4% # Washington Post Co. (The) Class B...... 30,743 19,777,587 0.5% # Wendy's Co. (The)...................... 2,246,594 19,522,902 0.5% Other Securities....................... 446,579,792 10.6% -------------- ------ Total Consumer Discretionary............... 573,196,034 13.6% -------------- ------ Consumer Staples -- (2.9%) * Hain Celestial Group, Inc. (The)....... 189,025 15,732,551 0.4% Other Securities....................... 125,648,756 3.0% -------------- ------ Total Consumer Staples..................... 141,381,307 3.4% -------------- ------ Energy -- (9.2%) Nabors Industries, Ltd................. 991,502 17,331,455 0.4% # Patterson-UTI Energy, Inc.............. 696,309 16,892,456 0.4% * Rowan Cos. P.L.C. Class A.............. 671,277 24,219,674 0.6% * Superior Energy Services, Inc.......... 633,713 17,002,520 0.4% Tesoro Corp............................ 476,686 23,305,179 0.6% Tidewater, Inc......................... 297,291 17,902,864 0.4% * Whiting Petroleum Corp................. 384,511 25,719,941 0.6% Other Securities....................... 299,773,020 7.1% -------------- ------ Total Energy............................... 442,147,109 10.5% -------------- ------ Financials -- (22.3%) Allied World Assurance Co. Holdings AG. 169,770 18,384,393 0.4% * American Capital, Ltd.................. 1,522,751 21,333,742 0.5% American Financial Group, Inc.......... 459,734 25,864,635 0.6% Assurant, Inc.......................... 471,974 27,601,040 0.7% # Assured Guaranty, Ltd.................. 768,259 15,749,309 0.4% Axis Capital Holdings, Ltd............. 593,046 28,122,241 0.7% CNO Financial Group, Inc............... 1,174,038 18,291,512 0.4% #* E*TRADE Financial Corp................. 1,092,091 18,467,259 0.4% * Genworth Financial, Inc. Class A....... 2,131,699 30,973,586 0.7% # Legg Mason, Inc........................ 731,595 28,144,460 0.7% NASDAQ OMX Group, Inc. (The)........... 858,799 30,427,249 0.7% Old Republic International Corp........ 1,179,426 19,802,563 0.5% PartnerRe, Ltd......................... 321,083 32,175,727 0.8% # People's United Financial, Inc......... 1,477,976 21,327,194 0.5% Protective Life Corp................... 420,743 19,387,837 0.5% Reinsurance Group of America, Inc...... 387,086 27,552,781 0.7% Validus Holdings, Ltd.................. 382,593 15,104,772 0.4% Zions BanCorp.......................... 790,545 22,427,762 0.5% Other Securities....................... 653,986,823 15.4% -------------- ------ Total Financials........................... 1,075,124,885 25.5% -------------- ------ Health Care -- (5.5%) Community Health Systems, Inc.......... 490,559 21,403,089 0.5% Omnicare, Inc.......................... 597,354 32,944,073 0.8% Other Securities....................... 211,790,254 5.0% -------------- ------ Total Health Care.......................... 266,137,416 6.3% -------------- ------ 46 U.S. TARGETED VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** ------ ------ --------------- Industrials -- (13.6%) AMERCO............................................. 84,246 $ 17,011,795 0.4% * Avis Budget Group, Inc............................. 665,365 20,845,885 0.5% * Owens Corning...................................... 624,093 22,423,661 0.5% Ryder System, Inc.................................. 309,611 20,381,692 0.5% # Trinity Industries, Inc............................ 485,295 24,570,486 0.6% URS Corp........................................... 366,165 19,853,466 0.5% Other Securities................................... 534,006,806 12.6% -------------- ------ Total Industrials........................................ 659,093,791 15.6% -------------- ------ Information Technology -- (12.8%) # AOL, Inc........................................... 416,163 15,081,747 0.4% * Arrow Electronics, Inc............................. 462,647 22,216,309 0.5% Avnet, Inc......................................... 602,535 23,920,640 0.6% #* First Solar, Inc................................... 629,345 31,637,173 0.8% * Ingram Micro, Inc. Class A......................... 737,900 17,097,143 0.4% Marvell Technology Group, Ltd...................... 1,425,540 17,106,480 0.4% Other Securities................................... 489,704,916 11.5% -------------- ------ Total Information Technology............................. 616,764,408 14.6% -------------- ------ Materials -- (6.5%) Reliance Steel & Aluminum Co....................... 404,807 29,668,305 0.7% Rock Tenn Co. Class A.............................. 178,696 19,122,259 0.5% Steel Dynamics, Inc................................ 904,475 16,253,416 0.4% Other Securities................................... 248,841,823 5.8% -------------- ------ Total Materials.......................................... 313,885,803 7.4% -------------- ------ Other -- (0.0%) Other Securities................................... -- 0.0% -------------- ------ Real Estate Investment Trusts -- (0.2%) Other Securities................................... 7,868,529 0.2% -------------- ------ Telecommunication Services -- (1.2%) Other Securities................................... 58,657,005 1.4% -------------- ------ Utilities -- (0.5%)...................................... # UGI Corp........................................... 424,799 17,573,935 0.4% Other Securities................................... 5,926,184 0.2% -------------- ------ Total Utilities.......................................... 23,500,119 0.6% -------------- ------ TOTAL COMMON STOCKS...................................... 4,177,756,406 99.1% -------------- ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 25,593 0.0% -------------- ------ TEMPORARY CASH INVESTMENTS -- (0.5%) State Street Institutional Liquid Reserves, 0.073%. 25,534,847 25,534,847 0.6% -------------- ------ SHARES/ FACE AMOUNT ------- - - (000) SECURITIES LENDING COLLATERAL -- (12.9%) (S)@ DFA Short Term Investment Fund..................... 53,871,979 623,298,798 14.8% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $3,493,026,078)................................ $4,826,615,644 114.5% ============== ====== 47 U.S. TARGETED VALUE PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) -------------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL -------------- ------------ ------- -------------- Common Stocks Consumer Discretionary........ $ 573,196,034 -- -- $ 573,196,034 Consumer Staples.............. 141,381,307 -- -- 141,381,307 Energy........................ 442,147,109 -- -- 442,147,109 Financials.................... 1,075,117,373 $ 7,512 -- 1,075,124,885 Health Care................... 265,990,921 146,495 -- 266,137,416 Industrials................... 658,984,691 109,100 -- 659,093,791 Information Technology........ 616,764,408 -- -- 616,764,408 Materials..................... 313,885,803 -- -- 313,885,803 Other......................... -- -- -- -- Real Estate Investment Trusts. 7,868,529 -- -- 7,868,529 Telecommunication Services.... 58,657,005 -- -- 58,657,005 Utilities..................... 23,500,119 -- -- 23,500,119 Rights/Warrants................. -- 25,593 -- 25,593 Temporary Cash Investments...... 25,534,847 -- -- 25,534,847 Securities Lending Collateral... -- 623,298,798 -- 623,298,798 -------------- ------------ -- -------------- TOTAL........................... $4,203,028,146 $623,587,498 -- $4,826,615,644 ============== ============ == ============== See accompanying Notes to Financial Statements. 48 U.S. SMALL CAP VALUE PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE+ OF NET ASSETS** ------ ------ --------------- COMMON STOCKS -- (85.8%) Consumer Discretionary -- (13.8%) #* Cabela's, Inc........................... 730,898 $ 43,356,869 0.5% #* Iconix Brand Group, Inc................. 2,233,461 80,605,607 0.8% * Live Nation Entertainment, Inc.......... 2,980,399 57,938,957 0.6% Penske Automotive Group, Inc............ 1,250,616 49,549,406 0.5% # Rent-A-Center, Inc...................... 1,772,669 60,696,187 0.6% # Wendy's Co. (The)....................... 5,109,486 44,401,433 0.5% Other Securities........................ 1,183,785,818 12.4% -------------- ------ Total Consumer Discretionary................ 1,520,334,277 15.9% -------------- ------ Consumer Staples -- (3.3%) Fresh Del Monte Produce, Inc............ 1,603,629 42,640,495 0.5% Seaboard Corp........................... 18,588 50,745,240 0.5% # Universal Corp.......................... 830,795 44,057,059 0.5% Other Securities........................ 229,684,189 2.3% -------------- ------ Total Consumer Staples...................... 367,126,983 3.8% -------------- ------ Energy -- (9.1%) Bristow Group, Inc...................... 1,325,217 106,640,212 1.1% #* Exterran Holdings, Inc.................. 2,293,667 65,484,193 0.7% * Helix Energy Solutions Group, Inc....... 3,443,185 81,465,757 0.8% #* Hornbeck Offshore Services, Inc......... 1,311,935 72,510,647 0.8% #* PDC Energy, Inc......................... 643,218 43,616,613 0.5% # SEACOR Holdings, Inc.................... 510,108 49,888,562 0.5% Other Securities........................ 579,294,876 6.1% -------------- ------ Total Energy................................ 998,900,860 10.5% -------------- ------ Financials -- (23.2%) Argo Group International Holdings, Ltd.. 1,019,162 42,784,421 0.5% CapitalSource, Inc...................... 3,605,113 47,154,878 0.5% CNO Financial Group, Inc................ 8,581,021 133,692,307 1.4% # Endurance Specialty Holdings, Ltd....... 1,240,849 68,606,541 0.7% Hanover Insurance Group, Inc. (The)..... 955,408 55,929,584 0.6% Kemper Corp............................. 1,614,877 59,782,747 0.6% # MB Financial, Inc....................... 1,464,568 43,497,670 0.5% #* MBIA, Inc............................... 4,664,368 53,033,864 0.6% Montpelier Re Holdings, Ltd............. 2,155,898 59,524,344 0.6% #* PHH Corp................................ 1,999,053 48,077,225 0.5% Platinum Underwriters Holdings, Ltd..... 978,955 60,881,211 0.7% Provident Financial Services, Inc....... 2,294,791 43,004,383 0.5% # Radian Group, Inc....................... 2,978,199 43,392,359 0.5% Selective Insurance Group, Inc.......... 1,840,980 48,362,545 0.5% Susquehanna Bancshares, Inc............. 5,363,165 63,204,900 0.7% # Umpqua Holdings Corp.................... 4,077,772 66,753,128 0.7% Washington Federal, Inc................. 1,940,982 44,215,570 0.5% Webster Financial Corp.................. 2,225,867 62,079,431 0.7% # Wintrust Financial Corp................. 1,288,249 56,051,714 0.6% Other Securities........................ 1,461,735,985 15.0% -------------- ------ Total Financials............................ 2,561,764,807 26.9% -------------- ------ Health Care -- (3.7%) * LifePoint Hospitals, Inc................ 1,892,213 97,713,879 1.0% Other Securities........................ 308,580,478 3.3% -------------- ------ Total Health Care........................... 406,294,357 4.3% -------------- ------ 49 U.S. SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** ------ ------ --------------- Industrials -- (14.8%) AMERCO............................................. 343,691 $ 69,401,524 0.7% #* Avis Budget Group, Inc............................. 3,927,269 123,041,338 1.3% * Esterline Technologies Corp........................ 1,145,345 91,810,855 1.0% # GATX Corp.......................................... 1,763,892 90,928,633 1.0% # General Cable Corp................................. 1,577,516 51,947,602 0.6% #* JetBlue Airways Corp............................... 10,286,881 72,933,986 0.8% #* Mobile Mini, Inc................................... 1,175,105 42,444,793 0.5% Other Securities................................... 1,095,470,224 11.3% --------------- ------ Total Industrials........................................ 1,637,978,955 17.2% --------------- ------ Information Technology -- (11.9%) * Benchmark Electronics, Inc......................... 2,299,623 52,270,431 0.6% #* CACI International, Inc. Class A................... 780,459 56,177,439 0.6% # Convergys Corp..................................... 3,909,664 77,176,767 0.8% #* SYNNEX Corp........................................ 1,175,733 72,072,433 0.8% * Tech Data Corp..................................... 836,389 43,542,411 0.5% #* Vishay Intertechnology, Inc........................ 4,709,603 57,786,829 0.6% Other Securities................................... 955,905,032 9.9% --------------- ------ Total Information Technology............................. 1,314,931,342 13.8% --------------- ------ Materials -- (5.4%) * Graphic Packaging Holding Co....................... 5,789,957 48,635,639 0.5% * Louisiana-Pacific Corp............................. 3,503,276 59,590,725 0.6% Other Securities................................... 491,791,727 5.2% --------------- ------ Total Materials.......................................... 600,018,091 6.3% --------------- ------ Other -- (0.0%) Other Securities................................... 85,260 0.0% --------------- ------ Real Estate Investment Trusts -- (0.2%) Other Securities................................... 19,418,367 0.2% --------------- ------ Telecommunication Services -- (0.3%) Other Securities................................... 35,414,331 0.4% --------------- ------ Utilities -- (0.1%) Other Securities................................... 7,908,495 0.1% --------------- ------ TOTAL COMMON STOCKS...................................... 9,470,176,125 99.4% --------------- ------ PREFERRED STOCKS -- (0.0%) Other -- (0.0%) Other Securities................................... -- 0.0% --------------- ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 222,356 0.0% --------------- ------ TEMPORARY CASH INVESTMENTS -- (0.5%) State Street Institutional Liquid Reserves, 0.073%. 58,723,771 58,723,771 0.6% --------------- ------ SHARES/ FACE AMOUNT ------- - - (000) SECURITIES LENDING COLLATERAL -- (13.7%) (S)@ DFA Short Term Investment Fund..................... 130,380,635 1,508,503,951 15.9% --------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $8,164,435,164)................................ $11,037,626,203 115.9% =============== ====== 50 U.S. SMALL CAP VALUE PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ----------------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL -------------- -------------- ------- --------------- Common Stocks Consumer Discretionary........ $1,520,334,277 -- -- $ 1,520,334,277 Consumer Staples.............. 367,126,983 -- -- 367,126,983 Energy........................ 998,900,860 -- -- 998,900,860 Financials.................... 2,561,714,904 $ 49,903 -- 2,561,764,807 Health Care................... 405,421,123 873,234 -- 406,294,357 Industrials................... 1,637,355,218 623,737 -- 1,637,978,955 Information Technology........ 1,314,931,342 -- -- 1,314,931,342 Materials..................... 600,018,091 -- -- 600,018,091 Other......................... -- 85,260 -- 85,260 Real Estate Investment Trusts. 19,418,367 -- -- 19,418,367 Telecommunication Services.... 35,414,331 -- -- 35,414,331 Utilities..................... 7,908,495 -- -- 7,908,495 Preferred Stocks Other......................... -- -- -- -- Rights/Warrants................. -- 222,356 -- 222,356 Temporary Cash Investments...... 58,723,771 -- -- 58,723,771 Securities Lending Collateral... -- 1,508,503,951 -- 1,508,503,951 -------------- -------------- -- --------------- TOTAL........................... $9,527,267,762 $1,510,358,441 -- $11,037,626,203 ============== ============== == =============== See accompanying Notes to Financial Statements. 51 U.S. CORE EQUITY 1 PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE+ OF NET ASSETS** ------ ------ --------------- COMMON STOCKS -- (90.8%) Consumer Discretionary -- (13.2%) * Amazon.com, Inc...................... 86,377 $ 31,443,819 0.4% Comcast Corp. Class A................ 725,325 34,510,963 0.5% Home Depot, Inc. (The)............... 350,095 27,268,900 0.4% McDonald's Corp...................... 237,696 22,942,418 0.3% Time Warner, Inc..................... 312,767 21,499,604 0.3% Walt Disney Co. (The)................ 447,208 30,673,997 0.4% Other Securities..................... 928,419,928 12.2% -------------- ------ Total Consumer Discretionary............. 1,096,759,629 14.5% -------------- ------ Consumer Staples -- (6.7%) Coca-Cola Co. (The).................. 932,501 36,899,065 0.5% CVS Caremark Corp.................... 419,936 26,145,215 0.4% Mondelez International, Inc. Class A. 575,836 19,371,123 0.3% PepsiCo, Inc......................... 378,786 31,852,115 0.4% Philip Morris International, Inc..... 379,444 33,816,049 0.5% Procter & Gamble Co. (The)........... 620,688 50,120,556 0.7% Wal-Mart Stores, Inc................. 421,387 32,341,452 0.4% Other Securities..................... 321,110,342 4.1% -------------- ------ Total Consumer Staples................... 551,655,917 7.3% -------------- ------ Energy -- (9.4%) Chevron Corp......................... 671,031 80,496,879 1.1% ConocoPhillips....................... 409,670 30,028,811 0.4% Exxon Mobil Corp..................... 1,499,029 134,342,979 1.8% Occidental Petroleum Corp............ 273,715 26,298,537 0.4% Schlumberger, Ltd.................... 299,627 28,081,042 0.4% Other Securities..................... 483,605,737 6.2% -------------- ------ Total Energy............................. 782,853,985 10.3% -------------- ------ Financials -- (15.7%) American Express Co.................. 241,143 19,725,497 0.3% American International Group, Inc.... 492,240 25,424,196 0.3% Bank of America Corp................. 3,834,941 53,535,776 0.7% * Berkshire Hathaway, Inc. Class B..... 406,267 46,753,206 0.6% Citigroup, Inc....................... 1,073,660 52,373,135 0.7% Goldman Sachs Group, Inc. (The)...... 152,527 24,535,493 0.3% JPMorgan Chase & Co.................. 1,350,398 69,599,513 0.9% U.S. Bancorp......................... 623,331 23,287,646 0.3% Wells Fargo & Co..................... 1,760,712 75,164,795 1.0% Other Securities..................... 915,425,567 12.1% -------------- ------ Total Financials......................... 1,305,824,824 17.2% -------------- ------ Health Care -- (10.2%) Amgen, Inc........................... 197,640 22,926,240 0.3% Bristol-Myers Squibb Co.............. 391,740 20,574,185 0.3% * Gilead Sciences, Inc................. 358,324 25,437,421 0.3% Johnson & Johnson.................... 710,094 65,761,805 0.9% Merck & Co., Inc..................... 801,185 36,125,432 0.5% Pfizer, Inc.......................... 2,220,281 68,118,221 0.9% UnitedHealth Group, Inc.............. 344,956 23,546,697 0.3% Other Securities..................... 583,322,666 7.7% -------------- ------ Total Health Care........................ 845,812,667 11.2% -------------- ------ 52 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** ------ ------ --------------- Industrials -- (12.0%) 3M Co.............................................. 157,069 $ 19,767,134 0.3% Boeing Co. (The)................................... 168,655 22,009,477 0.3% General Electric Co................................ 3,541,296 92,569,477 1.2% Union Pacific Corp................................. 158,185 23,949,209 0.3% United Technologies Corp........................... 215,910 22,940,437 0.3% Other Securities................................... 816,458,383 10.8% -------------- ------ Total Industrials........................................ 997,694,117 13.2% -------------- ------ Information Technology -- (14.8%) Apple, Inc......................................... 195,508 102,123,604 1.4% Cisco Systems, Inc................................. 1,871,862 42,116,895 0.6% * Google, Inc. Class A............................... 65,230 67,224,733 0.9% Intel Corp......................................... 1,702,035 41,580,715 0.6% International Business Machines Corp............... 236,758 42,429,401 0.6% Microsoft Corp..................................... 1,967,669 69,557,099 0.9% Oracle Corp........................................ 843,387 28,253,464 0.4% QUALCOMM, Inc...................................... 373,897 25,974,625 0.4% Visa, Inc. Class A................................. 127,752 25,124,986 0.3% Other Securities................................... 780,908,300 10.1% -------------- ------ Total Information Technology............................. 1,225,293,822 16.2% -------------- ------ Materials -- (4.3%) Other Securities................................... 354,429,733 4.7% -------------- ------ Other -- (0.0%) Other Securities................................... -- 0.0% -------------- ------ Telecommunication Services -- (1.8%) AT&T, Inc.......................................... 1,762,656 63,808,147 0.8% Verizon Communications, Inc........................ 743,452 37,551,761 0.5% Other Securities................................... 49,643,037 0.7% -------------- ------ Total Telecommunication Services......................... 151,002,945 2.0% -------------- ------ Utilities -- (2.7%) Other Securities................................... 225,005,109 3.0% -------------- ------ TOTAL COMMON STOCKS...................................... 7,536,332,748 99.6% -------------- ------ PREFERRED STOCKS -- (0.0%) Other -- (0.0%) Other Securities................................... -- 0.0% -------------- ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 159,054 0.0% -------------- ------ TEMPORARY CASH INVESTMENTS -- (0.4%) State Street Institutional Liquid Reserves, 0.073%. 31,598,604 31,598,604 0.4% -------------- ------ SHARES/ FACE AMOUNT ------- (000) SECURITIES LENDING COLLATERAL -- (8.8%) (S)@ DFA Short Term Investment Fund..................... 63,360,287 $ 733,078,518 9.7% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $6,002,014,885)................................ $8,301,168,924 109.7% ============== ====== 53 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) -------------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL -------------- ------------ ------- -------------- Common Stocks Consumer Discretionary...... $1,096,759,629 -- -- $1,096,759,629 Consumer Staples............ 551,655,917 -- -- 551,655,917 Energy...................... 782,853,985 -- -- 782,853,985 Financials.................. 1,305,823,024 $ 1,800 -- 1,305,824,824 Health Care................. 845,796,644 16,023 -- 845,812,667 Industrials................. 997,677,317 16,800 -- 997,694,117 Information Technology...... 1,225,293,822 -- -- 1,225,293,822 Materials................... 354,429,733 -- -- 354,429,733 Other....................... -- -- -- -- Telecommunication Services.. 151,002,945 -- -- 151,002,945 Utilities................... 225,005,109 -- -- 225,005,109 Preferred Stocks Other....................... -- -- -- -- Rights/Warrants............... -- 159,054 -- 159,054 Temporary Cash Investments.... 31,598,604 -- -- 31,598,604 Securities Lending Collateral. -- 733,078,518 -- 733,078,518 -------------- ------------ -- -------------- TOTAL......................... $7,567,896,729 $733,272,195 -- $8,301,168,924 ============== ============ == ============== See accompanying Notes to Financial Statements. 54 U.S. CORE EQUITY 2 PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE+ OF NET ASSETS** ------ ------ --------------- COMMON STOCKS -- (90.1%) Consumer Discretionary -- (12.8%) Comcast Corp. Class A.................. 1,101,420 $ 52,405,564 0.5% Time Warner, Inc....................... 517,336 35,561,677 0.4% Twenty-First Century Fox, Inc. Class A. 846,333 28,843,029 0.3% Walt Disney Co. (The).................. 830,524 56,965,641 0.6% Other Securities....................... 1,241,097,856 12.4% -------------- ------ Total Consumer Discretionary............... 1,414,873,767 14.2% -------------- ------ Consumer Staples -- (5.4%) CVS Caremark Corp...................... 672,828 41,890,271 0.4% Mondelez International, Inc. Class A... 920,693 30,972,113 0.3% Procter & Gamble Co. (The)............. 646,219 52,182,184 0.5% Wal-Mart Stores, Inc................... 387,774 29,761,655 0.3% Walgreen Co............................ 475,167 28,148,893 0.3% Other Securities....................... 420,011,991 4.3% -------------- ------ Total Consumer Staples..................... 602,967,107 6.1% -------------- ------ Energy -- (10.5%) Anadarko Petroleum Corp................ 289,878 27,622,475 0.3% Chevron Corp........................... 1,090,432 130,808,223 1.3% ConocoPhillips......................... 648,630 47,544,579 0.5% EOG Resources, Inc..................... 150,872 26,915,565 0.3% Exxon Mobil Corp....................... 2,490,947 223,238,670 2.2% Occidental Petroleum Corp.............. 454,609 43,678,833 0.4% Schlumberger, Ltd...................... 239,817 22,475,649 0.2% Other Securities....................... 634,771,552 6.4% -------------- ------ Total Energy............................... 1,157,055,546 11.6% -------------- ------ Financials -- (18.2%) American International Group, Inc...... 778,143 40,191,086 0.4% Ameriprise Financial, Inc.............. 219,392 22,057,672 0.2% Bank of America Corp................... 6,230,807 86,982,066 0.9% * Berkshire Hathaway, Inc. Class B....... 232,188 26,720,195 0.3% BlackRock, Inc......................... 73,022 21,965,748 0.2% Capital One Financial Corp............. 312,923 21,488,422 0.2% Citigroup, Inc......................... 1,762,407 85,970,213 0.9% Goldman Sachs Group, Inc. (The)........ 240,919 38,754,230 0.4% JPMorgan Chase & Co.................... 2,206,428 113,719,299 1.1% MetLife, Inc........................... 512,756 24,258,486 0.3% Morgan Stanley......................... 786,023 22,582,441 0.2% U.S. Bancorp........................... 991,278 37,034,146 0.4% Wells Fargo & Co....................... 2,946,563 125,788,774 1.3% Other Securities....................... 1,343,236,724 13.3% -------------- ------ Total Financials........................... 2,010,749,502 20.1% -------------- ------ Health Care -- (9.6%) Amgen, Inc............................. 259,507 30,102,812 0.3% * Express Scripts Holding Co............. 462,397 28,909,060 0.3% Johnson & Johnson...................... 409,001 37,877,583 0.4% Merck & Co., Inc....................... 1,401,705 63,202,878 0.6% Pfizer, Inc............................ 3,622,771 111,146,614 1.1% UnitedHealth Group, Inc................ 548,645 37,450,508 0.4% Zoetis, Inc............................ 936,170 29,639,142 0.3% 55 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** ------ ------ --------------- Health Care -- (Continued) Other Securities................................... $ 728,069,628 7.3% -------------- ------ Total Health Care...................................... 1,066,398,225 10.7% -------------- ------ Industrials -- (12.4%) FedEx Corp......................................... 169,074 22,148,694 0.2% General Electric Co................................ 5,963,501 155,885,916 1.6% Union Pacific Corp................................. 261,311 39,562,485 0.4% Other Securities................................... 1,151,499,413 11.5% -------------- ------ Total Industrials...................................... 1,369,096,508 13.7% -------------- ------ Information Technology -- (12.6%) Apple, Inc......................................... 130,247 68,034,520 0.7% Cisco Systems, Inc................................. 3,077,086 69,234,435 0.7% EMC Corp........................................... 1,056,822 25,437,706 0.3% * Google, Inc. Class A............................... 30,564 31,498,647 0.3% Hewlett-Packard Co................................. 1,055,382 25,719,659 0.3% Intel Corp......................................... 2,859,210 69,850,500 0.7% Microsoft Corp..................................... 932,130 32,950,795 0.3% Visa, Inc. Class A................................. 196,429 38,631,691 0.4% Other Securities................................... 1,029,293,792 10.2% -------------- ------ Total Information Technology........................... 1,390,651,745 13.9% -------------- ------ Materials -- (4.4%) Dow Chemical Co. (The)............................. 627,320 24,760,320 0.3% Other Securities................................... 467,559,113 4.6% -------------- ------ Total Materials........................................ 492,319,433 4.9% -------------- ------ Other -- (0.0%) Other Securities................................... -- 0.0% -------------- ------ Telecommunication Services -- (2.3%) AT&T, Inc.......................................... 3,049,991 110,409,674 1.1% Verizon Communications, Inc........................ 1,449,236 73,200,910 0.7% Other Securities................................... 67,929,375 0.7% -------------- ------ Total Telecommunication Services....................... 251,539,959 2.5% -------------- ------ Utilities -- (1.9%) Other Securities................................... 210,671,606 2.1% -------------- ------ TOTAL COMMON STOCKS.................................... 9,966,323,398 99.8% -------------- ------ PREFERRED STOCKS -- (0.0%) Other -- (0.0%) Other Securities................................... -- 0.0% -------------- ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 358,381 0.0% -------------- ------ TEMPORARY CASH INVESTMENTS -- (0.3%) State Street Institutional Liquid Reserves, 0.073%. 33,428,910 33,428,910 0.3% -------------- ------ 56 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES/ FACE PERCENTAGE AMOUNT VALUE+ OF NET ASSETS** ------- ------ --------------- (000) SECURITIES LENDING COLLATERAL -- (9.6%) (S)@ DFA Short Term Investment Fund.. 91,671,614 $ 1,060,640,572 10.6% --------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $7,891,276,455).............. $11,060,751,261 110.7% =============== ====== Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ----------------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL -------------- -------------- ------- --------------- Common Stocks Consumer Discretionary...... $1,414,873,767 -- -- $ 1,414,873,767 Consumer Staples............ 602,967,107 -- -- 602,967,107 Energy...................... 1,157,055,546 -- -- 1,157,055,546 Financials.................. 2,010,745,188 $ 4,314 -- 2,010,749,502 Health Care................. 1,066,360,782 37,443 -- 1,066,398,225 Industrials................. 1,369,054,287 42,221 -- 1,369,096,508 Information Technology...... 1,390,651,745 -- -- 1,390,651,745 Materials................... 492,319,433 -- -- 492,319,433 Other....................... -- -- -- -- Telecommunication Services.. 251,539,959 -- -- 251,539,959 Utilities................... 210,671,606 -- -- 210,671,606 Preferred Stocks Other....................... -- -- -- -- Rights/Warrants............... -- 358,381 -- 358,381 Temporary Cash Investments.... 33,428,910 -- -- 33,428,910 Securities Lending Collateral. -- 1,060,640,572 -- 1,060,640,572 -------------- -------------- -- --------------- TOTAL......................... $9,999,668,330 $1,061,082,931 -- $11,060,751,261 ============== ============== == =============== See accompanying Notes to Financial Statements. 57 U.S. VECTOR EQUITY PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE+ OF NET ASSETS** ------ ------ --------------- COMMON STOCKS -- (88.1%) Consumer Discretionary -- (13.2%) CBS Corp. Class B....................... 99,468 $ 5,882,537 0.2% Comcast Corp. Class A................... 336,814 16,025,610 0.6% # GameStop Corp. Class A.................. 124,160 6,806,451 0.2% * Jarden Corp............................. 117,655 6,513,381 0.2% * Liberty Interactive Corp. Class A....... 268,740 7,245,230 0.3% Time Warner, Inc........................ 97,900 6,729,646 0.2% Walt Disney Co. (The)................... 118,253 8,110,973 0.3% Other Securities........................ 376,574,031 13.0% -------------- ------ Total Consumer Discretionary................ 433,887,859 15.0% -------------- ------ Consumer Staples -- (4.4%) Bunge, Ltd.............................. 80,340 6,598,324 0.2% CVS Caremark Corp....................... 113,204 7,048,081 0.3% Mondelez International, Inc. Class A.... 260,500 8,763,220 0.3% Procter & Gamble Co. (The).............. 105,525 8,521,144 0.3% Other Securities........................ 115,048,524 4.0% -------------- ------ Total Consumer Staples...................... 145,979,293 5.1% -------------- ------ Energy -- (10.2%) Anadarko Petroleum Corp................. 76,836 7,321,702 0.3% # Chesapeake Energy Corp.................. 371,242 10,379,926 0.4% Chevron Corp............................ 239,958 28,785,362 1.0% ConocoPhillips.......................... 188,785 13,837,941 0.5% Exxon Mobil Corp........................ 250,318 22,433,499 0.8% Murphy Oil Corp......................... 107,339 6,474,689 0.2% Occidental Petroleum Corp............... 111,234 10,687,363 0.4% Tesoro Corp............................. 131,157 6,412,266 0.2% * Weatherford International, Ltd.......... 429,641 7,063,298 0.3% Other Securities........................ 219,997,212 7.4% -------------- ------ Total Energy................................ 333,393,258 11.5% -------------- ------ Financials -- (21.6%) American Financial Group, Inc........... 125,705 7,072,163 0.3% American International Group, Inc....... 128,798 6,652,417 0.2% Ameriprise Financial, Inc............... 68,100 6,846,774 0.2% Bank of America Corp.................... 1,445,171 20,174,587 0.7% Citigroup, Inc.......................... 403,956 19,704,974 0.7% Goldman Sachs Group, Inc. (The)......... 47,945 7,712,433 0.3% Hartford Financial Services Group, Inc.. 219,658 7,402,475 0.3% Invesco, Ltd............................ 186,136 6,282,090 0.2% JPMorgan Chase & Co..................... 570,669 29,412,280 1.0% KeyCorp................................. 499,016 6,252,670 0.2% Lincoln National Corp................... 152,570 6,928,204 0.3% MetLife, Inc............................ 141,103 6,675,583 0.2% Principal Financial Group, Inc.......... 157,281 7,464,556 0.3% Regions Financial Corp.................. 681,506 6,562,903 0.2% Wells Fargo & Co........................ 634,567 27,089,665 0.9% Other Securities........................ 535,707,873 18.5% -------------- ------ Total Financials............................ 707,941,647 24.5% -------------- ------ Health Care -- (7.2%) * Boston Scientific Corp.................. 767,057 8,966,896 0.3% Merck & Co., Inc........................ 149,737 6,751,641 0.2% 58 U.S. VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** ------ ------ --------------- Health Care -- (Continued) Omnicare, Inc...................................... 109,511 $ 6,039,532 0.2% Pfizer, Inc........................................ 427,541 13,116,958 0.5% Other Securities................................... 201,362,265 7.0% -------------- ------ Total Health Care........................................ 236,237,292 8.2% -------------- ------ Industrials -- (12.2%) General Electric Co................................ 856,705 22,394,269 0.8% Southwest Airlines Co.............................. 417,610 7,191,244 0.3% Other Securities................................... 370,909,900 12.7% -------------- ------ Total Industrials........................................ 400,495,413 13.8% -------------- ------ Information Technology -- (11.2%) Fidelity National Information Services, Inc........ 150,228 7,323,615 0.3% IAC/InterActiveCorp................................ 115,491 6,166,065 0.2% Intel Corp......................................... 277,316 6,774,830 0.3% * Micron Technology, Inc............................. 569,578 10,070,139 0.4% Visa, Inc. Class A................................. 37,703 7,415,049 0.3% Western Digital Corp............................... 122,881 8,556,204 0.3% Xerox Corp......................................... 731,469 7,270,802 0.3% Other Securities................................... 313,334,785 10.6% -------------- ------ Total Information Technology............................. 366,911,489 12.7% -------------- ------ Materials -- (5.3%) Other Securities................................... 173,155,795 6.0% -------------- ------ Other -- (0.0%) Other Securities................................... -- 0.0% -------------- ------ Telecommunication Services -- (1.7%) AT&T, Inc.......................................... 570,322 20,645,656 0.7% Verizon Communications, Inc........................ 219,736 11,098,865 0.4% Other Securities................................... 23,940,444 0.8% -------------- ------ Total Telecommunication Services......................... 55,684,965 1.9% -------------- ------ Utilities -- (1.1%) Other Securities................................... 35,464,567 1.2% -------------- ------ TOTAL COMMON STOCKS...................................... 2,889,151,578 99.9% -------------- ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 81,076 0.0% -------------- ------ TEMPORARY CASH INVESTMENTS -- (0.2%) State Street Institutional Liquid Reserves, 0.073%. 6,584,203 6,584,203 0.2% -------------- ------ SHARES/ FACE AMOUNT ------- (000) SECURITIES LENDING COLLATERAL -- (11.7%) (S)@ DFA Short Term Investment Fund..................... 33,037,634 382,245,421 13.2% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $2,350,309,267)................................ $3,278,062,278 113.3% ============== ====== 59 U.S. VECTOR EQUITY PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) -------------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL -------------- ------------ ------- -------------- Common Stocks Consumer Discretionary...... $ 433,887,859 -- -- $ 433,887,859 Consumer Staples............ 145,979,293 -- -- 145,979,293 Energy...................... 333,393,258 -- -- 333,393,258 Financials.................. 707,939,630 $ 2,017 -- 707,941,647 Health Care................. 236,209,992 27,300 -- 236,237,292 Industrials................. 400,463,577 31,836 -- 400,495,413 Information Technology...... 366,911,489 -- -- 366,911,489 Materials................... 173,155,795 -- -- 173,155,795 Other....................... -- -- -- -- Telecommunication Services.. 55,684,965 -- -- 55,684,965 Utilities................... 35,464,567 -- -- 35,464,567 Rights/Warrants............... -- 81,076 -- 81,076 Temporary Cash Investments.... 6,584,203 -- -- 6,584,203 Securities Lending Collateral. -- 382,245,421 -- 382,245,421 -------------- ------------ -- -------------- TOTAL......................... $2,895,674,628 $382,387,650 -- $3,278,062,278 ============== ============ == ============== See accompanying Notes to Financial Statements. 60 U.S. SMALL CAP PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE+ OF NET ASSETS** ------ ------ --------------- COMMON STOCKS -- (80.9%) Consumer Discretionary -- (15.2%) #* Bally Technologies, Inc........................ 235,969 $ 17,258,773 0.2% #* Buffalo Wild Wings, Inc........................ 118,248 16,859,800 0.2% #* Cabela's, Inc.................................. 277,885 16,484,138 0.2% # Cheesecake Factory, Inc. (The)................. 366,132 17,299,737 0.2% # Cracker Barrel Old Country Store, Inc.......... 141,046 15,496,724 0.2% #* Lumber Liquidators Holdings, Inc............... 150,634 17,200,896 0.2% * Steven Madden, Ltd............................. 421,193 15,449,359 0.2% * Tenneco, Inc................................... 308,939 16,395,393 0.2% # Thor Industries, Inc........................... 274,686 15,934,535 0.2% Other Securities............................... 1,245,925,653 16.9% -------------- ------ Total Consumer Discretionary....................... 1,394,305,008 18.7% -------------- ------ Consumer Staples -- (3.6%) # Casey's General Stores, Inc.................... 217,078 15,820,645 0.2% #* Darling International, Inc..................... 756,402 17,601,474 0.2% * TreeHouse Foods, Inc........................... 217,722 15,950,314 0.2% Other Securities............................... 279,898,889 3.8% -------------- ------ Total Consumer Staples............................. 329,271,322 4.4% -------------- ------ Energy -- (4.2%) Bristow Group, Inc............................. 199,091 16,020,853 0.2% SemGroup Corp. Class A......................... 262,775 15,868,982 0.2% Other Securities............................... 355,886,047 4.8% -------------- ------ Total Energy....................................... 387,775,882 5.2% -------------- ------ Financials -- (13.6%) * Altisource Portfolio Solutions SA.............. 119,358 18,772,626 0.3% # Bank of Hawaii Corp............................ 279,070 16,180,479 0.2% CNO Financial Group, Inc....................... 978,475 15,244,640 0.2% # TCF Financial Corp............................. 1,012,331 15,367,185 0.2% Webster Financial Corp......................... 569,447 15,881,877 0.2% Other Securities............................... 1,163,975,751 15.6% -------------- ------ Total Financials................................... 1,245,422,558 16.7% -------------- ------ Health Care -- (7.8%) #* Align Technology, Inc.......................... 286,722 16,360,357 0.2% * Charles River Laboratories International, Inc.. 314,552 15,479,104 0.2% # Hill-Rom Holdings, Inc......................... 371,392 15,334,776 0.2% # Owens & Minor, Inc............................. 404,519 15,137,101 0.2% * Thoratec Corp.................................. 353,463 15,266,067 0.2% #* VCA Antech, Inc................................ 578,974 16,471,810 0.2% #* ViroPharma, Inc................................ 389,274 15,111,617 0.2% # West Pharmaceutical Services, Inc.............. 351,188 16,979,940 0.2% Other Securities............................... 586,139,980 8.0% -------------- ------ Total Health Care.................................. 712,280,752 9.6% -------------- ------ Industrials -- (14.7%) # Actuant Corp. Class A.......................... 410,545 15,420,070 0.2% Alliant Techsystems, Inc....................... 169,067 18,406,324 0.3% * Avis Budget Group, Inc......................... 493,987 15,476,613 0.2% Belden, Inc.................................... 250,180 16,827,107 0.2% #* Chart Industries, Inc.......................... 150,375 16,160,801 0.2% Con-way, Inc................................... 380,220 15,665,064 0.2% #* DigitalGlobe, Inc.............................. 493,255 15,695,374 0.2% 61 U.S. SMALL CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** ------ ------ --------------- Industrials -- (Continued) EnerSys, Inc....................................... 269,950 $ 17,911,183 0.2% Huntington Ingalls Industries, Inc................. 227,971 16,311,325 0.2% #* MasTec, Inc........................................ 498,398 15,933,784 0.2% #* Middleby Corp...................................... 75,298 17,141,590 0.2% * Spirit Airlines, Inc............................... 478,914 20,665,139 0.3% Other Securities................................... 1,149,286,508 15.5% -------------- ------ Total Industrials...................................... 1,350,900,882 18.1% -------------- ------ Information Technology -- (14.5%) * Acxiom Corp........................................ 457,131 15,190,463 0.2% * Anixter International, Inc......................... 180,205 15,405,725 0.2% FEI Co............................................. 177,398 15,802,614 0.2% # j2 Global, Inc..................................... 290,465 15,969,766 0.2% # Lexmark International, Inc. Class A................ 428,784 15,243,271 0.2% * Tyler Technologies, Inc............................ 169,807 16,422,035 0.2% Other Securities................................... 1,240,890,031 16.7% -------------- ------ Total Information Technology........................... 1,334,923,905 17.9% -------------- ------ Materials -- (4.2%) KapStone Paper and Packaging Corp.................. 298,292 15,499,252 0.2% PolyOne Corp....................................... 529,913 16,056,364 0.2% Sensient Technologies Corp......................... 295,289 15,393,416 0.2% Worthington Industries, Inc........................ 429,704 17,420,200 0.2% Other Securities................................... 318,790,671 4.4% -------------- ------ Total Materials........................................ 383,159,903 5.2% -------------- ------ Other -- (0.0%) Other Securities................................... 7,948 0.0% -------------- ------ Real Estate Investment Trusts -- (0.1%) Other Securities................................... 12,527,068 0.2% -------------- ------ Telecommunication Services -- (0.5%) Other Securities................................... 41,745,835 0.6% -------------- ------ Utilities -- (2.5%) IDACORP, Inc....................................... 295,434 15,244,395 0.2% Other Securities................................... 218,894,473 2.9% -------------- ------ Total Utilities........................................ 234,138,868 3.1% -------------- ------ TOTAL COMMON STOCKS.................................... 7,426,459,931 99.7% -------------- ------ PREFERRED STOCKS -- (0.0%) Other -- (0.0%) Other Securities................................... -- 0.0% -------------- ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 135,084 0.0% -------------- ------ TEMPORARY CASH INVESTMENTS -- (0.4%) State Street Institutional Liquid Reserves, 0.073%. 36,842,908 36,842,908 0.5% -------------- ------ SHARES/ FACE AMOUNT ------- (000) SECURITIES LENDING COLLATERAL -- (18.7%) (S)@ DFA Short Term Investment Fund................ 148,525,546 1,718,440,570 23.1% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $6,979,243,022).............................. $9,181,878,493 123.3% ============== ====== 62 U.S. SMALL CAP PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ---------------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL -------------- -------------- ------- -------------- Common Stocks Consumer Discretionary........ $1,394,305,008 -- -- $1,394,305,008 Consumer Staples.............. 329,271,322 -- -- 329,271,322 Energy........................ 387,775,882 -- -- 387,775,882 Financials.................... 1,245,407,500 $ 15,058 -- 1,245,422,558 Health Care................... 712,185,705 95,047 -- 712,280,752 Industrials................... 1,350,590,743 310,139 -- 1,350,900,882 Information Technology........ 1,334,923,905 -- -- 1,334,923,905 Materials..................... 383,159,903 -- -- 383,159,903 Other......................... -- 7,948 -- 7,948 Real Estate Investment Trusts. 12,527,068 -- -- 12,527,068 Telecommunication Services.... 41,745,835 -- -- 41,745,835 Utilities..................... 234,138,868 -- -- 234,138,868 Preferred Stocks Other......................... -- -- -- -- Rights/Warrants................. -- 135,084 -- 135,084 Temporary Cash Investments...... 36,842,908 -- -- 36,842,908 Securities Lending Collateral... -- 1,718,440,570 -- 1,718,440,570 -------------- -------------- -- -------------- TOTAL........................... $7,462,874,647 $1,719,003,846 -- $9,181,878,493 ============== ============== == ============== See accompanying Notes to Financial Statements. 63 U.S. MICRO CAP PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE+ OF NET ASSETS** ------ ------ --------------- COMMON STOCKS -- (84.7%) Consumer Discretionary -- (16.4%) * Asbury Automotive Group, Inc........... 297,023 $ 14,271,955 0.3% Belo Corp. Class A..................... 858,259 11,783,896 0.3% #* Conn's, Inc............................ 306,457 18,522,261 0.4% # Dorman Products, Inc................... 311,758 15,154,556 0.3% Finish Line, Inc. (The) Class A........ 451,112 11,295,844 0.2% #* Grand Canyon Education, Inc............ 367,324 17,363,405 0.4% #* Krispy Kreme Doughnuts, Inc............ 624,760 15,156,678 0.3% La-Z-Boy, Inc.......................... 533,688 12,317,519 0.3% Lithia Motors, Inc. Class A............ 188,702 11,859,921 0.3% #* Lumber Liquidators Holdings, Inc....... 109,921 12,551,879 0.3% # Papa John's International, Inc......... 207,021 15,665,279 0.3% #* Pinnacle Entertainment, Inc............ 540,950 12,658,230 0.3% #* Quiksilver, Inc........................ 1,457,888 12,129,628 0.3% #* Red Robin Gourmet Burgers, Inc......... 144,159 10,982,033 0.2% * Scientific Games Corp. Class A......... 650,894 11,898,342 0.3% # Sinclair Broadcast Group, Inc. Class A. 401,740 12,879,784 0.3% # Sturm Ruger & Co., Inc................. 185,803 12,153,374 0.3% Other Securities....................... 676,038,503 14.2% -------------- ----- Total Consumer Discretionary............... 904,683,087 19.3% -------------- ----- Consumer Staples -- (3.7%) Andersons, Inc. (The).................. 165,272 12,259,877 0.3% # J&J Snack Foods Corp................... 176,874 15,135,108 0.3% * Prestige Brands Holdings, Inc.......... 356,410 11,130,684 0.2% #* Susser Holdings Corp................... 220,255 12,078,784 0.3% Other Securities....................... 152,476,392 3.2% -------------- ----- Total Consumer Staples..................... 203,080,845 4.3% -------------- ----- Energy -- (4.4%) Crosstex Energy, Inc................... 478,837 14,695,508 0.3% #* Rex Energy Corp........................ 559,372 12,026,498 0.3% Other Securities....................... 215,434,478 4.6% -------------- ----- Total Energy............................... 242,156,484 5.2% -------------- ----- Financials -- (14.8%) #* Encore Capital Group, Inc.............. 260,253 12,713,359 0.3% FBL Financial Group, Inc. Class A...... 271,726 12,157,021 0.3% # Home BancShares, Inc................... 359,132 12,167,392 0.3% Horace Mann Educators Corp............. 423,287 11,725,050 0.3% * Western Alliance Bancorp............... 615,654 13,021,082 0.3% #* World Acceptance Corp.................. 153,471 15,979,401 0.3% Other Securities....................... 740,587,825 15.6% -------------- ----- Total Financials........................... 818,351,130 17.4% -------------- ----- Health Care -- (8.0%) * Amsurg Corp............................ 287,682 12,338,681 0.3% Analogic Corp.......................... 123,960 11,432,831 0.3% * Corvel Corp............................ 270,276 11,243,482 0.2% #* Hanger, Inc............................ 311,307 11,424,967 0.2% * Medidata Solutions, Inc................ 116,683 12,871,302 0.3% * NuVasive, Inc.......................... 346,328 11,006,304 0.2% Other Securities....................... 371,022,710 7.9% -------------- ----- Total Health Care.......................... 441,340,277 9.4% -------------- ----- 64 U.S. MICRO CAP PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** ------ ------ --------------- Industrials -- (15.0%) # AAON, Inc.......................................... 410,994 $ 11,100,948 0.2% #* EnPro Industries, Inc.............................. 198,137 11,822,835 0.3% Mueller Water Products, Inc. Class A............... 1,458,942 12,503,133 0.3% Other Securities................................... 796,876,867 16.9% -------------- ------ Total Industrials........................................ 832,303,783 17.7% -------------- ------ Information Technology -- (15.0%) * Electronics for Imaging, Inc....................... 383,228 13,148,553 0.3% # Heartland Payment Systems, Inc..................... 334,773 13,541,568 0.3% * iGATE Corp......................................... 533,687 16,992,594 0.4% * Integrated Device Technology, Inc.................. 1,226,260 13,047,406 0.3% * Manhattan Associates, Inc.......................... 199,341 21,231,810 0.5% NIC, Inc........................................... 456,902 11,248,927 0.2% #* SunEdison, Inc..................................... 1,431,312 13,311,202 0.3% #* Tyler Technologies, Inc............................ 216,321 20,920,404 0.5% #* Unisys Corp........................................ 418,812 11,035,696 0.2% Other Securities................................... 697,874,426 14.7% -------------- ------ Total Information Technology............................. 832,352,586 17.7% -------------- ------ Materials -- (5.1%) # Balchem Corp....................................... 210,062 12,028,150 0.3% KapStone Paper and Packaging Corp.................. 331,563 17,228,013 0.4% Other Securities................................... 251,104,753 5.3% -------------- ------ Total Materials.......................................... 280,360,916 6.0% -------------- ------ Other -- (0.0%) Other Securities................................... 58,742 0.0% -------------- ------ Telecommunication Services -- (0.9%) Other Securities................................... 51,451,236 1.1% -------------- ------ Utilities -- (1.4%) # MGE Energy, Inc.................................... 194,367 10,944,806 0.2% Other Securities................................... 66,128,649 1.4% -------------- ------ Total Utilities.......................................... 77,073,455 1.6% -------------- ------ TOTAL COMMON STOCKS...................................... 4,683,212,541 99.7% -------------- ------ PREFERRED STOCKS -- (0.0%) Other -- (0.0%) Other Securities................................... -- 0.0% -------------- ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 210,244 0.0% -------------- ------ TEMPORARY CASH INVESTMENTS -- (0.2%) State Street Institutional Liquid Reserves, 0.073%. 12,694,109 12,694,109 0.3% -------------- ------ SHARES/ FACE AMOUNT ------- - - (000) SECURITIES LENDING COLLATERAL -- (15.1%) (S)@ DFA Short Term Investment Fund..................... 72,160,431 834,896,185 17.8% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $3,910,422,847)................................ $5,531,013,079 117.8% ============== ====== 65 U.S. MICRO CAP PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) -------------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL -------------- ------------ ------- -------------- Common Stocks Consumer Discretionary...... $ 904,683,087 -- -- $ 904,683,087 Consumer Staples............ 203,080,845 -- -- 203,080,845 Energy...................... 242,156,484 -- -- 242,156,484 Financials.................. 818,331,155 $ 19,975 -- 818,351,130 Health Care................. 441,203,823 136,454 -- 441,340,277 Industrials................. 832,031,098 272,685 -- 832,303,783 Information Technology...... 832,352,586 -- -- 832,352,586 Materials................... 280,360,916 -- -- 280,360,916 Other....................... -- 58,742 -- 58,742 Telecommunication Services.. 51,451,236 -- -- 51,451,236 Utilities................... 77,073,455 -- -- 77,073,455 Preferred Stocks Other....................... -- -- -- -- Rights/Warrants............... -- 210,244 -- 210,244 Temporary Cash Investments.... 12,694,109 -- -- 12,694,109 Securities Lending Collateral. -- 834,896,185 -- 834,896,185 -------------- ------------ -- -------------- TOTAL......................... $4,695,418,794 $835,594,285 -- $5,531,013,079 ============== ============ == ============== See accompanying Notes to Financial Statements. 66 DFA REAL ESTATE SECURITIES PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE+ OF NET ASSETS** ------ ------ --------------- COMMON STOCKS -- (90.1%) Real Estate Investment Trusts -- (90.1%) Alexandria Real Estate Equities, Inc.......... 695,800 $ 45,769,724 1.0% American Campus Communities, Inc.............. 1,021,570 35,305,459 0.8% Apartment Investment & Management Co. Class A. 1,422,561 39,803,257 0.8% AvalonBay Communities, Inc.................... 1,187,772 148,530,889 3.2% BioMed Realty Trust, Inc...................... 1,873,201 37,314,164 0.8% # Boston Properties, Inc........................ 1,469,768 152,120,988 3.2% # BRE Properties, Inc........................... 748,334 40,866,520 0.9% # Camden Property Trust......................... 813,176 52,205,899 1.1% # CBL & Associates Properties, Inc.............. 1,573,700 31,174,997 0.7% DCT Industrial Trust, Inc..................... 3,084,629 23,905,875 0.5% # DDR Corp...................................... 2,687,030 45,545,158 1.0% # Digital Realty Trust, Inc..................... 1,252,136 59,676,802 1.3% Douglas Emmett, Inc........................... 1,306,857 32,579,945 0.7% # Duke Realty Corp.............................. 3,169,047 52,511,109 1.1% EPR Properties................................ 459,789 23,619,361 0.5% Equity Lifestyle Properties, Inc.............. 767,442 29,155,122 0.6% Equity Residential............................ 3,311,495 173,389,878 3.7% # Essex Property Trust, Inc..................... 361,408 58,186,688 1.2% Extra Space Storage, Inc...................... 1,019,883 46,904,419 1.0% Federal Realty Investment Trust............... 634,951 65,780,924 1.4% # General Growth Properties, Inc................ 4,695,708 99,689,881 2.1% HCP, Inc...................................... 4,408,569 182,955,613 3.9% # Health Care REIT, Inc......................... 2,764,928 179,305,581 3.8% # Highwoods Properties, Inc..................... 861,200 33,242,320 0.7% # Home Properties, Inc.......................... 540,171 32,577,713 0.7% Hospitality Properties Trust.................. 1,362,466 40,029,251 0.9% # Host Hotels & Resorts, Inc.................... 7,174,023 133,078,127 2.8% Kilroy Realty Corp............................ 737,362 39,198,164 0.8% Kimco Realty Corp............................. 3,993,958 85,790,218 1.8% LaSalle Hotel Properties...................... 914,451 28,393,703 0.6% Liberty Property Trust........................ 1,234,123 45,897,034 1.0% # Macerich Co. (The)............................ 1,365,999 80,880,801 1.7% # Mid-America Apartment Communities, Inc........ 673,731 44,735,738 1.0% # National Retail Properties, Inc............... 1,179,889 40,588,182 0.9% # Omega Healthcare Investors, Inc............... 1,113,809 37,023,011 0.8% Piedmont Office Realty Trust, Inc. Class A.... 1,593,397 29,445,977 0.6% Post Properties, Inc.......................... 526,602 24,086,775 0.5% Prologis, Inc................................. 4,760,982 190,201,231 4.1% Public Storage................................ 1,371,481 228,996,183 4.9% # Realty Income Corp............................ 1,888,595 78,659,982 1.7% # Regency Centers Corp.......................... 890,192 45,987,319 1.0% # Senior Housing Properties Trust............... 1,809,267 44,580,339 1.0% Simon Property Group, Inc..................... 2,902,908 448,644,431 9.6% # SL Green Realty Corp.......................... 882,170 83,426,817 1.8% # Tanger Factory Outlet Centers................. 896,460 31,241,631 0.7% Taubman Centers, Inc.......................... 606,482 39,900,451 0.9% # UDR, Inc...................................... 2,381,995 59,097,296 1.3% Ventas, Inc................................... 2,812,708 183,501,070 3.9% # Vornado Realty Trust.......................... 1,600,928 142,578,648 3.0% 67 DFA REAL ESTATE SECURITIES PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** ------ ------ --------------- Real Estate Investment Trusts -- (Continued) # Weingarten Realty Investors........................ 1,100,402 $ 34,915,755 0.7% Other Securities................................... 687,421,830 14.7% -------------- ------ TOTAL COMMON STOCKS...................................... 4,650,418,250 99.4% -------------- ------ TEMPORARY CASH INVESTMENTS -- (0.3%) State Street Institutional Liquid Reserves, 0.073%. 14,133,145 $ 14,133,145 0.3% -------------- ------ SHARES/ FACE AMOUNT ------- - - (000) SECURITIES LENDING COLLATERAL -- (9.6%) (S)@ DFA Short Term Investment Fund..................... 43,040,993 497,984,294 10.7% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $3,829,858,283)................................ $5,162,535,689 110.4% ============== ====== Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) -------------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL -------------- ------------ ------- -------------- Common Stocks Real Estate Investment Trusts. $4,650,418,250 -- -- $4,650,418,250 Temporary Cash Investments...... 14,133,145 -- -- 14,133,145 Securities Lending Collateral... -- $497,984,294 -- 497,984,294 -------------- ------------ -- -------------- TOTAL........................... $4,664,551,395 $497,984,294 -- $5,162,535,689 ============== ============ == ============== See accompanying Notes to Financial Statements. 68 LARGE CAP INTERNATIONAL PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- COMMON STOCKS -- (91.6%) AUSTRALIA -- (6.7%) Australia & New Zealand Banking Group, Ltd.. 528,683 $ 16,918,041 0.6% BHP Billiton, Ltd........................... 460,036 16,263,826 0.6% Commonwealth Bank of Australia.............. 294,908 21,234,117 0.8% National Australia Bank, Ltd................ 468,608 15,661,273 0.6% Westpac Banking Corp........................ 511,050 16,592,333 0.6% Other Securities............................ 113,841,998 4.1% ------------ ---- TOTAL AUSTRALIA................................. 200,511,588 7.3% ------------ ---- AUSTRIA -- (0.2%) Other Securities............................ 7,474,217 0.3% ------------ ---- BELGIUM -- (1.0%) Anheuser-Busch InBev NV..................... 120,883 12,531,168 0.5% Other Securities............................ 16,642,740 0.6% ------------ ---- TOTAL BELGIUM................................... 29,173,908 1.1% ------------ ---- CANADA -- (8.7%) Bank of Nova Scotia......................... 196,436 11,942,721 0.4% # Royal Bank of Canada........................ 243,989 16,385,278 0.6% # Suncor Energy, Inc.......................... 279,079 10,141,757 0.4% # Toronto-Dominion Bank (The)................. 160,784 14,748,364 0.5% Other Securities............................ 206,333,950 7.5% ------------ ---- TOTAL CANADA.................................... 259,552,070 9.4% ------------ ---- DENMARK -- (1.1%) Other Securities............................ 31,731,194 1.2% ------------ ---- FINLAND -- (0.8%) Other Securities............................ 23,527,291 0.9% ------------ ---- FRANCE -- (8.2%) BNP Paribas SA.............................. 204,665 15,098,779 0.6% Sanofi...................................... 180,968 19,295,374 0.7% Total SA.................................... 261,686 16,055,204 0.6% # Total SA Sponsored ADR...................... 157,489 9,635,177 0.4% Other Securities............................ 185,367,852 6.6% ------------ ---- TOTAL FRANCE.................................... 245,452,386 8.9% ------------ ---- GERMANY -- (7.0%) Allianz SE.................................. 67,247 11,290,927 0.4% BASF SE..................................... 164,609 17,088,800 0.6% Bayer AG.................................... 118,085 14,648,707 0.5% Daimler AG.................................. 185,463 15,184,741 0.6% SAP AG...................................... 136,242 10,661,226 0.4% Siemens AG.................................. 87,275 11,153,059 0.4% Other Securities............................ 129,286,200 4.7% ------------ ---- TOTAL GERMANY................................... 209,313,660 7.6% ------------ ---- GREECE -- (0.0%) Other Securities............................ 793,969 0.0% ------------ ---- 69 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- HONG KONG -- (2.5%) AIA Group, Ltd........................... 2,150,000 $ 10,917,334 0.4% Other Securities......................... 63,345,322 2.3% ------------ ----- TOTAL HONG KONG.............................. 74,262,656 2.7% ------------ ----- IRELAND -- (0.3%) Other Securities......................... 8,690,808 0.3% ------------ ----- ISRAEL -- (0.4%) Other Securities......................... 11,269,348 0.4% ------------ ----- ITALY -- (1.8%) Other Securities......................... 55,229,204 2.0% ------------ ----- JAPAN -- (17.6%) # Mitsubishi UFJ Financial Group, Inc. ADR. 1,455,897 9,317,741 0.4% # Softbank Corp............................ 179,200 13,382,451 0.5% Sumitomo Mitsui Financial Group, Inc..... 261,540 12,641,764 0.5% Toyota Motor Corp........................ 324,100 21,014,052 0.8% # Toyota Motor Corp. Sponsored ADR......... 94,713 12,257,756 0.5% Other Securities......................... 458,623,170 16.4% ------------ ----- TOTAL JAPAN.................................. 527,236,934 19.1% ------------ ----- NETHERLANDS -- (2.1%) Unilever NV.............................. 242,733 9,623,254 0.3% Other Securities......................... 53,835,902 2.0% ------------ ----- TOTAL NETHERLANDS............................ 63,459,156 2.3% ------------ ----- NEW ZEALAND -- (0.1%) Other Securities......................... 2,790,304 0.1% ------------ ----- NORWAY -- (0.9%) Other Securities......................... 25,978,042 0.9% ------------ ----- PORTUGAL -- (0.1%) Other Securities......................... 4,158,396 0.2% ------------ ----- SINGAPORE -- (1.2%) Other Securities......................... 36,936,063 1.3% ------------ ----- SPAIN -- (2.8%) Banco Santander SA....................... 1,225,631 10,865,540 0.4% Other Securities......................... 72,329,930 2.6% ------------ ----- TOTAL SPAIN.................................. 83,195,470 3.0% ------------ ----- SWEDEN -- (2.6%) Other Securities......................... 77,665,677 2.8% ------------ ----- SWITZERLAND -- (7.5%) Cie Financiere Richemont SA.............. 97,651 9,984,783 0.4% Nestle SA................................ 605,460 43,704,470 1.6% Novartis AG.............................. 288,619 22,403,348 0.8% Novartis AG ADR.......................... 164,130 12,728,282 0.5% Roche Holding AG......................... 127,069 35,139,075 1.3% UBS AG................................... 640,816 12,394,061 0.5% Other Securities......................... 88,296,444 3.1% ------------ ----- TOTAL SWITZERLAND............................ 224,650,463 8.2% ------------ ----- 70 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- UNITED KINGDOM -- (18.0%) # Barclays P.L.C. Sponsored ADR.................................. 548,981 $ 9,228,371 0.3% BG Group P.L.C................................................. 604,431 12,330,190 0.5% BP P.L.C. Sponsored ADR........................................ 563,945 26,223,442 1.0% British American Tobacco P.L.C................................. 285,586 15,756,419 0.6% Diageo P.L.C. Sponsored ADR.................................... 78,259 9,985,066 0.4% GlaxoSmithKline P.L.C.......................................... 528,451 13,931,212 0.5% GlaxoSmithKline P.L.C. Sponsored ADR........................... 204,043 10,738,783 0.4% HSBC Holdings P.L.C............................................ 1,638,724 17,962,609 0.7% HSBC Holdings P.L.C. Sponsored ADR............................. 437,209 24,063,982 0.9% Reckitt Benckiser Group P.L.C.................................. 119,067 9,258,539 0.3% Royal Dutch Shell P.L.C. ADR................................... 392,289 27,271,931 1.0% SABMiller P.L.C................................................ 177,232 9,241,009 0.3% Standard Chartered P.L.C....................................... 439,931 10,562,736 0.4% Tesco P.L.C.................................................... 1,584,008 9,239,736 0.3% Vodafone Group P.L.C........................................... 3,370,096 12,343,843 0.5% Vodafone Group P.L.C. Sponsored ADR............................ 614,634 22,630,824 0.8% Other Securities............................................... 297,153,404 10.6% -------------- ------ TOTAL UNITED KINGDOM................................................. 537,922,096 19.5% -------------- ------ TOTAL COMMON STOCKS.................................................. 2,740,974,900 99.5% -------------- ------ PREFERRED STOCKS -- (0.1%) GERMANY -- (0.1%) Other Securities............................................... 1,799,085 0.1% -------------- ------ UNITED KINGDOM -- (0.0%) Other Securities............................................... 48,992 0.0% -------------- ------ TOTAL PREFERRED STOCKS............................................... 1,848,077 0.1% -------------- ------ RIGHTS/WARRANTS -- (0.0%) FRANCE -- (0.0%) Other Securities............................................... 9 0.0% -------------- ------ HONG KONG -- (0.0%) Other Securities............................................... -- 0.0% -------------- ------ SPAIN -- (0.0%) Other Securities............................................... 264,592 0.0% -------------- ------ TOTAL RIGHTS/WARRANTS................................................ 264,601 0.0% -------------- ------ SHARES/ FACE AMOUNT VALUE+ ------- ------ - (000) SECURITIES LENDING COLLATERAL -- (8.3%)........................ (S)@ DFA Short Term Investment Fund................................. 21,521,175 249,000,000 9.0% @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $382,392 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $345,804) to be repurchased at $339,025...................................................... $ 339 $ 339,024 0.0% -------------- ------ TOTAL SECURITIES LENDING COLLATERAL.................................. 249,339,024 9.0% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $2,354,552,422)............................................ $2,992,426,602 108.6% ============== ====== 71 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) -------------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ------------ -------------- ------- -------------- Common Stocks Australia................... $ 7,579,926 $ 192,931,662 -- $ 200,511,588 Austria..................... 39,912 7,434,305 -- 7,474,217 Belgium..................... 3,501,712 25,672,196 -- 29,173,908 Canada...................... 259,552,070 -- -- 259,552,070 Denmark..................... 3,885,244 27,845,950 -- 31,731,194 Finland..................... 1,725,032 21,802,259 -- 23,527,291 France...................... 20,822,557 224,629,829 -- 245,452,386 Germany..................... 31,001,562 178,312,098 -- 209,313,660 Greece...................... -- 793,969 -- 793,969 Hong Kong................... 1,002,081 73,260,575 -- 74,262,656 Ireland..................... 2,489,101 6,201,707 -- 8,690,808 Israel...................... 5,679,502 5,589,846 -- 11,269,348 Italy....................... 8,130,392 47,098,812 -- 55,229,204 Japan....................... 43,398,542 483,838,392 -- 527,236,934 Netherlands................. 9,144,980 54,314,176 -- 63,459,156 New Zealand................. -- 2,790,304 -- 2,790,304 Norway...................... 2,122,512 23,855,530 -- 25,978,042 Portugal.................... 91,147 4,067,249 -- 4,158,396 Singapore................... -- 36,936,063 -- 36,936,063 Spain....................... 23,202,999 59,992,471 -- 83,195,470 Sweden...................... 720,670 76,945,007 -- 77,665,677 Switzerland................. 24,836,474 199,813,989 -- 224,650,463 United Kingdom.............. 185,603,990 352,318,106 -- 537,922,096 Preferred Stocks Germany..................... -- 1,799,085 -- 1,799,085 United Kingdom.............. -- 48,992 -- 48,992 Rights/Warrants France...................... -- 9 -- 9 Hong Kong................... -- -- -- -- Spain....................... -- 264,592 -- 264,592 Securities Lending Collateral. -- 249,339,024 -- 249,339,024 ------------ -------------- -- -------------- TOTAL......................... $634,530,405 $2,357,896,197 -- $2,992,426,602 ============ ============== == ============== See accompanying Notes to Financial Statements. 72 INTERNATIONAL CORE EQUITY PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- COMMON STOCKS -- (89.7%) AUSTRALIA -- (5.8%) Australia & New Zealand Banking Group, Ltd.. 1,021,663 $ 32,693,574 0.4% Commonwealth Bank of Australia.............. 291,226 20,969,002 0.2% National Australia Bank, Ltd................ 1,341,565 44,836,230 0.5% Wesfarmers, Ltd............................. 579,851 23,529,741 0.3% Westpac Banking Corp........................ 896,764 29,115,366 0.3% Other Securities............................ 462,209,534 4.8% ------------ ---- TOTAL AUSTRALIA................................. 613,353,447 6.5% ------------ ---- AUSTRIA -- (0.5%) Other Securities............................ 50,266,444 0.5% ------------ ---- BELGIUM -- (1.1%) Other Securities............................ 113,946,202 1.2% ------------ ---- CANADA -- (7.9%) # Royal Bank of Canada........................ 326,040 21,895,479 0.2% # Suncor Energy, Inc.......................... 654,429 23,782,011 0.3% # Toronto-Dominion Bank (The)................. 350,772 32,175,547 0.4% Other Securities............................ 747,748,586 7.8% ------------ ---- TOTAL CANADA.................................... 825,601,623 8.7% ------------ ---- CHINA -- (0.0%) Other Securities............................ 636,480 0.0% ------------ ---- COLOMBIA -- (0.0%) Other Securities............................ 5,577 0.0% ------------ ---- DENMARK -- (1.1%) Other Securities............................ 120,227,098 1.3% ------------ ---- FINLAND -- (1.5%) #* Nokia Oyj................................ 3,651,928 27,757,495 0.3% Other Securities............................ 131,584,399 1.4% ------------ ---- TOTAL FINLAND................................... 159,341,894 1.7% ------------ ---- FRANCE -- (7.1%) BNP Paribas SA.............................. 568,069 41,908,229 0.5% Cie de St-Gobain............................ 446,784 23,451,715 0.3% Sanofi...................................... 201,598 21,495,009 0.2% Sanofi ADR.................................. 562,231 30,068,114 0.3% Societe Generale SA......................... 443,771 25,068,404 0.3% Total SA.................................... 351,482 21,564,452 0.2% # Total SA Sponsored ADR.................... 595,142 36,410,788 0.4% Other Securities............................ 542,884,779 5.6% ------------ ---- TOTAL FRANCE.................................... 742,851,490 7.8% ------------ ---- GERMANY -- (5.9%) Allianz SE.................................. 171,092 28,726,742 0.3% Daimler AG.................................. 469,210 38,416,462 0.4% Deutsche Post AG............................ 639,180 21,585,987 0.2% Muenchener Rueckversicherungs AG............ 106,008 22,116,689 0.2% # Siemens AG Sponsored ADR.................. 200,444 25,658,836 0.3% 73 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- GERMANY -- (Continued) Other Securities...................... $ 483,963,547 5.1% -------------- ----- TOTAL GERMANY............................. 620,468,263 6.5% -------------- ----- GREECE -- (0.3%) Other Securities...................... 27,568,233 0.3% -------------- ----- HONG KONG -- (2.4%) Other Securities...................... 251,199,528 2.6% -------------- ----- IRELAND -- (0.5%) Other Securities...................... 47,557,895 0.5% -------------- ----- ISRAEL -- (0.5%) Other Securities...................... 57,292,967 0.6% -------------- ----- ITALY -- (2.2%) Other Securities...................... 234,965,473 2.5% -------------- ----- JAPAN -- (18.4%) Mitsubishi UFJ Financial Group, Inc... 5,724,200 36,453,212 0.4% Mizuho Financial Group, Inc........... 12,919,560 27,118,957 0.3% # Sumitomo Mitsui Financial Group, Inc.. 704,570 34,056,003 0.4% # Toyota Motor Corp. Sponsored ADR...... 360,892 46,706,643 0.5% Other Securities...................... 1,790,048,090 18.7% -------------- ----- TOTAL JAPAN............................... 1,934,382,905 20.3% -------------- ----- NETHERLANDS -- (2.5%) Other Securities...................... 268,159,365 2.8% -------------- ----- NEW ZEALAND -- (0.2%) Other Securities...................... 25,919,358 0.3% -------------- ----- NORWAY -- (0.9%) Other Securities...................... 99,167,065 1.0% -------------- ----- PORTUGAL -- (0.3%) Other Securities...................... 29,533,212 0.3% -------------- ----- RUSSIA -- (0.0%) Other Securities...................... 289,979 0.0% -------------- ----- SINGAPORE -- (1.3%) Other Securities...................... 131,481,204 1.4% -------------- ----- SPAIN -- (2.3%) Banco Santander SA.................... 3,256,138 28,866,513 0.3% # Banco Santander SA Sponsored ADR...... 2,364,383 21,066,653 0.2% Other Securities...................... 190,898,283 2.0% -------------- ----- TOTAL SPAIN............................... 240,831,449 2.5% -------------- ----- SWEDEN -- (2.8%) Nordea Bank AB........................ 1,635,765 20,923,901 0.2% Other Securities...................... 273,453,290 2.9% -------------- ----- TOTAL SWEDEN.............................. 294,377,191 3.1% -------------- ----- 74 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- SWITZERLAND -- (6.4%) ABB, Ltd................................ 1,199,336 $ 30,556,144 0.3% Credit Suisse Group AG.................. 1,122,531 34,919,631 0.4% Nestle SA............................... 587,284 42,392,455 0.5% # Novartis AG ADR......................... 818,651 63,486,385 0.7% Roche Holding AG........................ 81,978 22,669,818 0.3% Swiss Re AG............................. 372,384 32,688,839 0.4% UBS AG.................................. 1,749,489 33,836,974 0.4% Zurich Insurance Group AG............... 160,459 44,338,545 0.5% Other Securities........................ 366,397,186 3.6% -------------- ----- TOTAL SWITZERLAND........................... 671,285,977 7.1% -------------- ----- UNITED KINGDOM -- (17.8%) Anglo American P.L.C.................... 1,131,410 26,901,050 0.3% AstraZeneca P.L.C. Sponsored ADR........ 424,722 22,450,805 0.2% Barclays P.L.C. Sponsored ADR........... 2,263,921 38,056,512 0.4% BG Group P.L.C.......................... 1,429,345 29,158,159 0.3% BP P.L.C. Sponsored ADR................. 1,845,938 85,836,114 0.9% # HSBC Holdings P.L.C. Sponsored ADR...... 1,877,265 103,324,666 1.1% * Lloyds Banking Group P.L.C.............. 23,313,762 28,834,377 0.3% Prudential P.L.C. ADR................... 651,676 26,692,649 0.3% # Rio Tinto P.L.C. Sponsored ADR.......... 458,818 23,262,073 0.3% Royal Dutch Shell P.L.C. ADR(780259107). 1,430,280 99,433,066 1.1% Royal Dutch Shell P.L.C. ADR(780259206). 364,923 24,325,767 0.3% Standard Chartered P.L.C................ 1,125,564 27,024,772 0.3% Tesco P.L.C............................. 5,453,611 31,811,663 0.3% Vodafone Group P.L.C. Sponsored ADR..... 2,394,771 88,175,468 0.9% Other Securities........................ 1,212,613,734 12.7% -------------- ----- TOTAL UNITED KINGDOM........................ 1,867,900,875 19.7% -------------- ----- UNITED STATES -- (0.0%) Other Securities........................ 310,865 0.0% -------------- ----- TOTAL COMMON STOCKS......................... 9,428,922,059 99.2% -------------- ----- PREFERRED STOCKS -- (0.1%) FRANCE -- (0.0%) Other Securities........................ 5,197 0.0% -------------- ----- GERMANY -- (0.1%) Other Securities........................ 5,206,955 0.1% -------------- ----- UNITED KINGDOM -- (0.0%) Other Securities........................ 126,482 0.0% -------------- ----- TOTAL PREFERRED STOCKS...................... 5,338,634 0.1% -------------- ----- RIGHTS/WARRANTS -- (0.0%) AUSTRALIA -- (0.0%) Other Securities........................ -- 0.0% -------------- ----- AUSTRIA -- (0.0%) Other Securities........................ -- 0.0% -------------- ----- FRANCE -- (0.0%) Other Securities........................ 13 0.0% -------------- ----- 75 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- HONG KONG -- (0.0%) Other Securities............................................ $ -- 0.0% --------------- ------ ITALY -- (0.0%) Other Securities............................................ 11,809 0.0% --------------- ------ SPAIN -- (0.0%) Other Securities............................................ 702,942 0.0% --------------- ------ TOTAL RIGHTS/WARRANTS............................................. 714,764 0.0% --------------- ------ SHARES/ FACE AMOUNT VALUE+ ------- ------ (000) SECURITIES LENDING COLLATERAL -- (10.2%) (S)@ DFA Short Term Investment Fund.............................. 92,912,705 1,075,000,000 11.2% @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $5,584,879 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $5,050,512) to be repurchased at $4,951,499................................................. $ 4,951 4,951,482 0.1% --------------- ------ TOTAL SECURITIES LENDING COLLATERAL............................... 1,079,951,482 11.3% --------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $9,059,936,275)......................................... $10,514,926,939 110.6% =============== ====== 76 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ----------------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL -------------- -------------- ------- --------------- Common Stocks Australia................... $ 26,885,569 $ 586,467,878 -- $ 613,353,447 Austria..................... 69,846 50,196,598 -- 50,266,444 Belgium..................... 11,058,577 102,887,625 -- 113,946,202 Canada...................... 825,577,170 24,453 -- 825,601,623 China....................... 40,881 595,599 -- 636,480 Colombia.................... 5,577 -- -- 5,577 Denmark..................... 4,247,252 115,979,846 -- 120,227,098 Finland..................... 3,875,723 155,466,171 -- 159,341,894 France...................... 103,088,833 639,762,657 -- 742,851,490 Germany..................... 85,519,236 534,949,027 -- 620,468,263 Greece...................... 770,734 26,797,499 -- 27,568,233 Hong Kong................... 997,646 250,201,882 -- 251,199,528 Ireland..................... 14,908,209 32,649,686 -- 47,557,895 Israel...................... 13,909,511 43,383,456 -- 57,292,967 Italy....................... 22,099,821 212,865,652 -- 234,965,473 Japan....................... 121,410,252 1,812,972,653 -- 1,934,382,905 Netherlands................. 45,818,932 222,340,433 -- 268,159,365 New Zealand................. 113,994 25,805,364 -- 25,919,358 Norway...................... 10,556,193 88,610,872 -- 99,167,065 Portugal.................... 265,178 29,268,034 -- 29,533,212 Russia...................... -- 289,979 -- 289,979 Singapore................... 1,996 131,479,208 -- 131,481,204 Spain....................... 43,141,304 197,690,145 -- 240,831,449 Sweden...................... 8,713,099 285,664,092 -- 294,377,191 Switzerland................. 107,694,359 563,591,618 -- 671,285,977 United Kingdom.............. 646,060,323 1,221,840,552 -- 1,867,900,875 United States............... 310,865 -- -- 310,865 Preferred Stocks France...................... 5,197 -- -- 5,197 Germany..................... -- 5,206,955 -- 5,206,955 United Kingdom.............. -- 126,482 -- 126,482 Rights/Warrants Australia................... -- -- -- -- Austria..................... -- -- -- -- France...................... -- 13 -- 13 Hong Kong................... -- -- -- -- Italy....................... -- 11,809 -- 11,809 Spain....................... -- 702,942 -- 702,942 Securities Lending Collateral. -- 1,079,951,482 -- 1,079,951,482 -------------- -------------- -- --------------- TOTAL......................... $2,097,146,277 $8,417,780,662 -- $10,514,926,939 ============== ============== == =============== See accompanying Notes to Financial Statements. 77 INTERNATIONAL SMALL COMPANY PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 VALUE+ -------------- AFFILIATED INVESTMENT COMPANIES -- (100.0%) Investment in The Continental Small Company Series of The DFA Investment Trust Company....................... $3,041,110,694 Investment in The United Kingdom Small Company Series of The DFA Investment Trust Company....................... 1,939,554,064 Investment in The Japanese Small Company Series of The DFA Investment Trust Company....................... 1,867,328,817 Investment in The Asia Pacific Small Company Series of The DFA Investment Trust Company....................... 934,206,430 Investment in The Canadian Small Company Series of The DFA Investment Trust Company....................... 727,206,971 -------------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANIES (Cost $6,870,589,846)............................... 8,509,406,976 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $6,870,589,846)............................... $8,509,406,976 ============== Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) --------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL -------------- ------- ------- -------------- Affiliated Investment Companies. $8,509,406,976 -- -- $8,509,406,976 -------------- -- -- -------------- TOTAL........................... $8,509,406,976 -- -- $8,509,406,976 ============== == == ============== See accompanying Notes to Financial Statements. 78 SCHEDULES OF INVESTMENTS OCTOBER 31, 2013 JAPANESE SMALL COMPANY PORTFOLIO VALUE+ ------------ AFFILIATED INVESTMENT COMPANY -- (100.0%) Investment in The Japanese Small Company Series of The DFA Investment Trust Company..................... $414,294,832 ------------ TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANY (Cost $389,680,331)............................... $414,294,832 ============ Summary of the Portfolio's Master Fund's investments as of October 31, 2013, based on their valuation inputs, is located within this report (See Security Valuation Note). ASIA PACIFIC SMALL COMPANY PORTFOLIO VALUE+ ------------ AFFILIATED INVESTMENT COMPANY -- (100.0%) Investment in The Asia Pacific Small Company Series of The DFA Investment Trust Company..................... $331,291,612 ------------ TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANY (Cost $301,331,502)............................... $331,291,612 ============ Summary of the Portfolio's Master Fund's investments as of October 31, 2013, based on their valuation inputs, is located within this report (See Security Valuation Note). See accompanying Notes to Financial Statements. 79 SCHEDULES OF INVESTMENTS OCTOBER 31, 2013 UNITED KINGDOM SMALL COMPANY PORTFOLIO VALUE+ ----------- AFFILIATED INVESTMENT COMPANY -- (100.0%) Investment in The United Kingdom Small Company Series of The DFA Investment Trust Company....................... $37,113,753 ----------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANY (Cost $22,831,439)........................................... $37,113,753 =========== Summary of the Portfolio's Master Fund's investments as of October 31, 2013, based on their valuation inputs, is located within this report (See Security Valuation Note). CONTINENTAL SMALL COMPANY PORTFOLIO VALUE+ ------------ AFFILIATED INVESTMENT COMPANY -- (100.0%) Investment in The Continental Small Company Series of The DFA Investment Trust Company.............................. $170,799,580 ------------ TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANY (Cost $132,148,330).......................................... $170,799,580 ============ Summary of the Portfolio's Master Fund's investments as of October 31, 2013, based on their valuation inputs, is located within this report (See Security Valuation Note). See accompanying Notes to Financial Statements. 80 DFA INTERNATIONAL REAL ESTATE SECURITIES PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- COMMON STOCKS -- (92.5%) AUSTRALIA -- (22.0%) # CFS Retail Property Trust Group... 14,158,196 $ 27,708,920 1.3% # Commonwealth Property Office Fund. 14,987,556 16,956,375 0.8% # Dexus Property Group.............. 31,023,121 31,793,162 1.5% Federation Centres, Ltd........... 9,501,422 22,298,352 1.0% Goodman Group..................... 11,297,147 53,988,920 2.5% # GPT Group......................... 11,394,986 39,714,768 1.8% Investa Office Fund............... 3,957,702 11,618,583 0.5% # Stockland......................... 15,300,798 57,991,976 2.7% # Westfield Group................... 13,915,226 142,401,443 6.6% Westfield Retail Trust............ 19,622,341 57,248,805 2.7% Other Securities.................. 47,497,354 2.2% ------------ ------ TOTAL AUSTRALIA....................... 509,218,658 23.6% ------------ ------ BELGIUM -- (1.5%) Cofinimmo......................... 114,585 13,840,283 0.6% Other Securities.................. 20,133,082 1.0% ------------ ------ TOTAL BELGIUM......................... 33,973,365 1.6% ------------ ------ CANADA -- (5.9%) Canadian REIT..................... 240,202 9,784,088 0.5% # H&R REIT.......................... 921,949 19,099,509 0.9% # RioCan REIT....................... 1,063,614 25,961,709 1.2% Other Securities.................. 82,203,898 3.7% ------------ ------ TOTAL CANADA.......................... 137,049,204 6.3% ------------ ------ CHINA -- (0.2%) Other Securities.................. 4,864,256 0.2% ------------ ------ FRANCE -- (4.3%) Fonciere Des Regions.............. 190,204 16,289,188 0.8% Gecina SA......................... 156,246 20,850,380 1.0% ICADE............................. 237,301 21,826,829 1.0% Klepierre......................... 704,513 31,598,250 1.5% Other Securities.................. 10,065,785 0.4% ------------ ------ TOTAL FRANCE.......................... 100,630,432 4.7% ------------ ------ GERMANY -- (0.4%) Other Securities.................. 8,374,189 0.4% ------------ ------ GREECE -- (0.0%) Other Securities.................. 710,872 0.0% ------------ ------ HONG KONG -- (4.0%) # Link REIT (The)................... 15,583,305 78,594,514 3.7% Other Securities.................. 13,748,534 0.6% ------------ ------ TOTAL HONG KONG....................... 92,343,048 4.3% ------------ ------ ISRAEL -- (0.2%) Other Securities.................. 4,096,802 0.2% ------------ ------ ITALY -- (0.2%) Other Securities.................. 5,532,168 0.3% ------------ ------ 81 DFA INTERNATIONAL REAL ESTATE SECURITIES PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- JAPAN -- (16.6%) # Advance Residence Investment Corp..... 8,537 $ 19,327,474 0.9% Frontier Real Estate Investment Corp.. 1,623 16,216,774 0.7% # Japan Prime Realty Investment Corp.... 5,422 18,018,058 0.8% Japan Real Estate Investment Corp..... 4,121 47,081,579 2.2% # Japan Retail Fund Investment Corp..... 14,487 29,340,812 1.4% Mori Hills REIT Investment Corp....... 1,392 9,769,120 0.5% # Mori Trust Sogo Reit, Inc............. 1,265 11,250,428 0.5% Nippon Accommodations Fund, Inc....... 1,470 10,539,320 0.5% Nippon Building Fund, Inc............. 4,863 60,159,679 2.8% # Nomura Real Estate Office Fund, Inc... 2,509 12,394,468 0.6% # Orix JREIT, Inc....................... 10,968 13,677,853 0.6% # United Urban Investment Corp.......... 16,307 24,888,305 1.2% Other Securities...................... 112,354,555 5.1% ------------ ------ TOTAL JAPAN............................... 385,018,425 17.8% ------------ ------ MALAYSIA -- (0.6%) Other Securities...................... 13,489,527 0.6% ------------ ------ MEXICO -- (1.2%) Fibra Uno Administracion S.A. de C.V.. 8,782,987 27,195,974 1.3% ------------ ------ NETHERLANDS -- (9.3%) Corio NV.............................. 482,308 20,995,100 1.0% Eurocommercial Properties NV.......... 237,981 10,111,652 0.5% # Unibail-Rodamco SE.................... 633,736 165,575,512 7.7% Wereldhave NV......................... 147,230 11,439,812 0.5% Other Securities...................... 8,571,098 0.3% ------------ ------ TOTAL NETHERLANDS......................... 216,693,174 10.0% ------------ ------ NEW ZEALAND -- (0.7%) Other Securities...................... 15,591,258 0.7% ------------ ------ SINGAPORE -- (7.9%) Ascendas REIT......................... 13,941,000 26,506,474 1.2% # CapitaCommercial Trust................ 13,721,000 16,235,902 0.7% CapitaMall Trust...................... 16,554,300 26,887,384 1.2% # Suntec REIT........................... 14,521,000 19,986,435 0.9% Other Securities...................... 93,673,308 4.5% ------------ ------ TOTAL SINGAPORE........................... 183,289,503 8.5% ------------ ------ SOUTH AFRICA -- (2.1%) Capital Property Fund................. 9,423,574 10,037,894 0.5% Growthpoint Properties, Ltd........... 4,050,442 10,299,808 0.5% Other Securities...................... 29,205,583 1.3% ------------ ------ TOTAL SOUTH AFRICA........................ 49,543,285 2.3% ------------ ------ TAIWAN -- (0.6%) Other Securities...................... 13,745,219 0.6% ------------ ------ TURKEY -- (0.6%) Other Securities...................... 15,120,567 0.7% ------------ ------ 82 DFA INTERNATIONAL REAL ESTATE SECURITIES PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- UNITED KINGDOM -- (14.2%) British Land Co. P.L.C........................................ 6,331,990 $ 63,151,477 2.9% Derwent London P.L.C.......................................... 601,385 24,139,933 1.1% Great Portland Estates P.L.C.................................. 2,280,278 20,924,819 1.0% Hammerson P.L.C............................................... 4,812,805 40,782,360 1.9% Intu Properties P.L.C......................................... 4,019,223 22,167,268 1.0% Land Securities Group P.L.C................................... 5,251,976 83,254,870 3.9% Segro P.L.C................................................... 4,883,720 25,578,649 1.2% Shaftesbury P.L.C............................................. 1,638,837 15,605,115 0.7% Other Securities.............................................. 32,668,779 1.5% -------------- ------ TOTAL UNITED KINGDOM................................................ 328,273,270 15.2% -------------- ------ TOTAL COMMON STOCKS................................................. 2,144,753,196 99.3% -------------- ------ RIGHTS/WARRANTS -- (0.0%) SINGAPORE -- (0.0%) Other Securities.............................................. 14,606 0.0% -------------- ------ SHARES/ FACE AMOUNT VALUE+ ------- ------ (000) SECURITIES LENDING COLLATERAL -- (7.5%) (S)@ DFA Short Term Investment Fund................................ 15,038,894 174,000,000 8.1% @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $77,480 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $70,067) to be repurchased at $68,693.... $ 69 68,693 0.0% -------------- ------ TOTAL SECURITIES LENDING COLLATERAL................................. 174,068,693 8.1% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $2,051,425,581)........................................... $2,318,836,495 107.4% ============== ====== 83 DFA INTERNATIONAL REAL ESTATE SECURITIES PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) -------------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ------------ -------------- ------- -------------- Common Stocks Australia................... $ 1,073,311 $ 508,145,347 -- $ 509,218,658 Belgium..................... -- 33,973,365 -- 33,973,365 Canada...................... 137,049,204 -- -- 137,049,204 China....................... -- 4,864,256 -- 4,864,256 France...................... -- 100,630,432 -- 100,630,432 Germany..................... -- 8,374,189 -- 8,374,189 Greece...................... -- 710,872 -- 710,872 Hong Kong................... -- 92,343,048 -- 92,343,048 Israel...................... -- 4,096,802 -- 4,096,802 Italy....................... -- 5,532,168 -- 5,532,168 Japan....................... -- 385,018,425 -- 385,018,425 Malaysia.................... -- 13,489,527 -- 13,489,527 Mexico...................... 27,195,974 -- -- 27,195,974 Netherlands................. -- 216,693,174 -- 216,693,174 New Zealand................. -- 15,591,258 -- 15,591,258 Singapore................... -- 183,289,503 -- 183,289,503 South Africa................ -- 49,543,285 -- 49,543,285 Taiwan...................... -- 13,745,219 -- 13,745,219 Turkey...................... -- 15,120,567 -- 15,120,567 United Kingdom.............. -- 328,273,270 -- 328,273,270 Rights/Warrants Singapore................... -- 14,606 -- 14,606 Securities Lending Collateral. -- 174,068,693 -- 174,068,693 ------------ -------------- -- -------------- TOTAL......................... $165,318,489 $2,153,518,006 -- $2,318,836,495 ============ ============== == ============== See accompanying Notes to Financial Statements. 84 DFA GLOBAL REAL ESTATE SECURITIES PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 SHARES VALUE+ ----------- -------------- AFFILIATED INVESTMENT COMPANIES -- (99.6%) Investment in DFA Real Estate Securities Portfolio of DFA Investment Dimensions Group Inc............................... 44,479,879 $1,235,206,238 Investment in DFA International Real Estate Securities Portfolio of DFA Investment Dimensions Group Inc............................... 153,767,083 842,643,614 -------------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANIES (Cost $1,711,546,104).......................................... 2,077,849,852 -------------- TEMPORARY CASH INVESTMENTS -- (0.4%) State Street Institutional Liquid Reserves, 0.073% (Cost $8,697,235)................................................. 8,697,235 8,697,235 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $1,720,243,339).......................................... $2,086,547,087 ============== Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) --------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL -------------- ------- ------- -------------- Affiliated Investment Companies. $2,077,849,852 -- -- $2,077,849,852 Temporary Cash Investments...... 8,697,235 -- -- 8,697,235 -------------- -- -- -------------- TOTAL........................... $2,086,547,087 -- -- $2,086,547,087 ============== == == ============== See accompanying Notes to Financial Statements. 85 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- COMMON STOCKS -- (91.3%) AUSTRALIA -- (5.0%) # Primary Health Care, Ltd..... 10,254,873 $ 47,843,315 0.4% Other Securities............. 563,553,242 5.1% ------------ ---- TOTAL AUSTRALIA.................. 611,396,557 5.5% ------------ ---- AUSTRIA -- (0.8%) # Wienerberger AG.............. 2,775,318 48,140,566 0.4% Other Securities............. 46,419,548 0.4% ------------ ---- TOTAL AUSTRIA.................... 94,560,114 0.8% ------------ ---- BELGIUM -- (0.7%) Other Securities............. 90,001,261 0.8% ------------ ---- CANADA -- (8.1%) * Canfor Corp.................. 2,000,533 41,463,116 0.4% * Celestica, Inc............... 4,266,945 46,858,025 0.4% West Fraser Timber Co., Ltd.. 640,761 58,732,584 0.5% Other Securities............. 834,777,825 7.5% ------------ ---- TOTAL CANADA..................... 981,831,550 8.8% ------------ ---- CHINA -- (0.0%) Other Securities............. 4,800,879 0.0% ------------ ---- COLOMBIA -- (0.0%) Other Securities............. 32,180 0.0% ------------ ---- DENMARK -- (1.4%) #* Vestas Wind Systems A.S...... 3,314,030 88,805,540 0.8% Other Securities............. 85,441,344 0.8% ------------ ---- TOTAL DENMARK.................... 174,246,884 1.6% ------------ ---- FINLAND -- (2.2%) Huhtamaki Oyj................ 1,837,503 44,168,925 0.4% Pohjola Bank P.L.C. Class A.. 2,317,182 42,197,505 0.4% Other Securities............. 181,698,788 1.6% ------------ ---- TOTAL FINLAND.................... 268,065,218 2.4% ------------ ---- FRANCE -- (3.4%) Havas SA..................... 5,005,668 41,624,191 0.4% Other Securities............. 370,033,186 3.3% ------------ ---- TOTAL FRANCE..................... 411,657,377 3.7% ------------ ---- GERMANY -- (4.9%) * Aareal Bank AG............... 1,133,243 43,463,385 0.4% Aurubis AG................... 1,045,010 65,840,809 0.6% Bilfinger SE................. 536,449 59,529,913 0.5% #* TUI AG....................... 3,423,151 45,350,838 0.4% Other Securities............. 386,223,402 3.5% ------------ ---- TOTAL GERMANY.................... 600,408,347 5.4% ------------ ---- GREECE -- (0.2%) Other Securities............. 19,237,021 0.2 ------------ ---- 86 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- HONG KONG -- (2.1%) Other Securities............... $ 260,142,684 2.3% -------------- ----- IRELAND -- (0.4%) Smurfit Kappa Group P.L.C...... 2,066,589 50,024,929 0.5% Other Securities............... 4,130,638 0.0% -------------- ----- TOTAL IRELAND...................... 54,155,567 0.5% -------------- ----- ISRAEL -- (0.7%) Other Securities............... 89,813,252 0.8% -------------- ----- ITALY -- (2.9%) #* Banca Popolare di Milano Scarl. 77,876,899 52,021,908 0.5% * Banco Popolare................. 40,563,396 80,582,762 0.7% Other Securities............... 218,731,146 2.0% -------------- ----- TOTAL ITALY........................ 351,335,816 3.2% -------------- ----- JAPAN -- (21.2%) Fujikura, Ltd.................. 9,669,000 44,121,189 0.4% Other Securities............... 2,528,832,837 22.7% -------------- ----- TOTAL JAPAN........................ 2,572,954,026 23.1% -------------- ----- NETHERLANDS -- (1.8%) Delta Lloyd NV................. 2,392,235 50,719,278 0.5% Other Securities............... 165,018,056 1.4% -------------- ----- TOTAL NETHERLANDS.................. 215,737,334 1.9% -------------- ----- NEW ZEALAND -- (0.3%) Other Securities............... 40,904,585 0.4% -------------- ----- NORWAY -- (1.0%) Other Securities............... 116,446,422 1.0% -------------- ----- PORTUGAL -- (0.3%) Other Securities............... 40,895,443 0.4% -------------- ----- RUSSIA -- (0.1%) Other Securities............... 8,176,906 0.1% -------------- ----- SINGAPORE -- (1.6%) Other Securities............... 190,923,855 1.7% -------------- ----- SPAIN -- (2.4%) # Bankinter SA................... 11,466,414 69,912,115 0.6% * Gamesa Corp. Tecnologica SA.... 7,418,085 71,637,070 0.6% #* Sacyr SA....................... 7,674,657 41,304,181 0.4% Other Securities............... 111,875,412 1.0% -------------- ----- TOTAL SPAIN........................ 294,728,778 2.6% -------------- ----- SWEDEN -- (3.2%) # Holmen AB Class B.............. 1,385,639 46,026,833 0.4% # Trelleborg AB Class B.......... 6,024,942 113,688,584 1.0% Other Securities............... 227,930,699 2.1% -------------- ----- TOTAL SWEDEN....................... 387,646,116 3.5% -------------- ----- 87 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- SWITZERLAND -- (4.1%) Helvetia Holding AG.................. 121,594 $ 57,348,474 0.5% Swiss Life Holding AG................ 237,965 47,183,777 0.4% Other Securities..................... 396,461,344 3.6% --------------- ----- TOTAL SWITZERLAND........................ 500,993,595 4.5% --------------- ----- UNITED KINGDOM -- (22.5%) Amlin P.L.C.......................... 11,024,189 75,323,453 0.7% Ashtead Group P.L.C.................. 10,275,968 107,981,373 1.0% Barratt Developments P.L.C........... 23,445,340 125,727,208 1.1% Beazley P.L.C........................ 12,470,827 45,713,302 0.4% Bellway P.L.C........................ 3,448,205 83,054,770 0.8% Bodycote P.L.C....................... 5,021,077 52,927,267 0.5% Bovis Homes Group P.L.C.............. 3,855,116 48,499,105 0.4% Catlin Group, Ltd.................... 9,072,341 74,529,294 0.7% CSR P.L.C............................ 4,886,688 43,044,052 0.4% * Dixons Retail P.L.C.................. 78,168,061 61,244,756 0.6% DS Smith P.L.C....................... 15,213,647 73,739,578 0.7% easyJet P.L.C........................ 2,965,500 62,118,708 0.6% Greene King P.L.C.................... 4,908,532 64,953,578 0.6% Hiscox, Ltd.......................... 9,603,622 101,955,499 0.9% Home Retail Group P.L.C.............. 17,508,245 55,860,306 0.5% Inchcape P.L.C....................... 8,776,728 89,609,482 0.8% Meggitt P.L.C........................ 4,813,743 44,191,006 0.4% Millennium & Copthorne Hotels P.L.C.. 4,813,561 43,996,499 0.4% Mondi P.L.C.......................... 6,004,641 107,218,486 1.0% Persimmon P.L.C...................... 7,739,467 156,694,688 1.4% SIG P.L.C............................ 14,208,459 46,883,529 0.4% Taylor Wimpey P.L.C.................. 76,091,760 134,253,718 1.2% * Thomas Cook Group P.L.C.............. 27,405,032 63,074,658 0.6% Travis Perkins P.L.C................. 5,306,411 157,799,623 1.4% Vesuvius P.L.C....................... 5,951,466 46,267,961 0.4% Other Securities..................... 764,711,297 6.6% --------------- ----- TOTAL UNITED KINGDOM..................... 2,731,373,196 24.5% --------------- ----- TOTAL COMMON STOCKS...................... 11,112,464,963 99.7% --------------- ----- PREFERRED STOCKS -- (0.0%) FRANCE -- (0.0%) Other Securities..................... 7,401 0.0% --------------- ----- RIGHTS/WARRANTS -- (0.0%) AUSTRIA -- (0.0%) Other Securities..................... -- 0.0% --------------- ----- ISRAEL -- (0.0%) Other Securities..................... 432 0.0% --------------- ----- ITALY -- (0.0%) Other Securities..................... 265 0.0% --------------- ----- TOTAL RIGHTS/WARRANTS.................... 697 0.0% --------------- ----- 88 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES/ FACE PERCENTAGE AMOUNT VALUE+ OF NET ASSETS** ------- ------ --------------- (000) SECURITIES LENDING COLLATERAL -- (8.7%) (S)@ DFA Short Term Investment Fund.................................. 91,011,236 $ 1,053,000,000 9.4% @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $85,122 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $76,977) to be repurchased at $75,468...... $ 75 75,468 0.0% --------------- ------ TOTAL SECURITIES LENDING COLLATERAL................................... 1,053,075,468 9.4% --------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $10,147,270,819)............................................ $12,165,548,529 109.1% =============== ====== Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ------------------------------------------------------ LEVEL 1 LEVEL 2 LEVEL 3 TOTAL -------------- --------------- ------- --------------- Common Stocks Australia................... $ 88,431 $ 611,308,126 -- $ 611,396,557 Austria..................... -- 94,560,114 -- 94,560,114 Belgium..................... 1,510 89,999,751 -- 90,001,261 Canada...................... 981,346,259 485,291 -- 981,831,550 China....................... 678,336 4,122,543 -- 4,800,879 Colombia.................... 32,180 -- -- 32,180 Denmark..................... -- 174,246,884 -- 174,246,884 Finland..................... -- 268,065,218 -- 268,065,218 France...................... 2,223,624 409,433,753 -- 411,657,377 Germany..................... 4,965,979 595,442,368 -- 600,408,347 Greece...................... -- 19,237,021 -- 19,237,021 Hong Kong................... 14,741,037 245,401,647 -- 260,142,684 Ireland..................... -- 54,155,567 -- 54,155,567 Israel...................... -- 89,813,252 -- 89,813,252 Italy....................... -- 351,335,816 -- 351,335,816 Japan....................... 1,448,639 2,571,505,387 -- 2,572,954,026 Netherlands................. -- 215,737,334 -- 215,737,334 New Zealand................. -- 40,904,585 -- 40,904,585 Norway...................... 3,851,954 112,594,468 -- 116,446,422 Portugal.................... -- 40,895,443 -- 40,895,443 Russia...................... -- 8,176,906 -- 8,176,906 Singapore................... 5,123 190,918,732 -- 190,923,855 Spain....................... -- 294,728,778 -- 294,728,778 Sweden...................... 333,888 387,312,228 -- 387,646,116 Switzerland................. -- 500,993,595 -- 500,993,595 United Kingdom.............. 69,809 2,731,303,387 -- 2,731,373,196 Preferred Stocks France...................... 7,401 -- -- 7,401 Rights/Warrants Austria..................... -- -- -- -- Israel...................... -- 432 -- 432 Italy....................... -- 265 -- 265 Securities Lending Collateral. -- 1,053,075,468 -- 1,053,075,468 -------------- --------------- -- --------------- TOTAL......................... $1,009,794,170 $11,155,754,359 -- $12,165,548,529 ============== =============== == =============== See accompanying Notes to Financial Statements. 89 INTERNATIONAL VECTOR EQUITY PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- COMMON STOCKS -- (90.1%) AUSTRALIA -- (6.2%) Lend Lease Group.............. 182,266 $ 1,965,533 0.2% National Australia Bank, Ltd.. 62,086 2,074,966 0.2% Origin Energy, Ltd............ 193,618 2,676,665 0.3% Santos, Ltd................... 170,274 2,436,964 0.2% Other Securities.............. 65,015,626 5.9% ----------- ------ TOTAL AUSTRALIA................... 74,169,754 6.8% ----------- ------ AUSTRIA -- (0.5%) Other Securities.............. 6,056,086 0.6% ----------- ------ BELGIUM -- (1.3%) Ageas......................... 45,850 1,948,353 0.2% KBC Groep NV.................. 37,239 2,028,835 0.2% Other Securities.............. 11,849,709 1.1% ----------- ------ TOTAL BELGIUM..................... 15,826,897 1.5% ----------- ------ CANADA -- (7.9%) Toronto-Dominion Bank (The)... 21,129 1,938,117 0.2% Other Securities.............. 92,905,836 8.5% ----------- ------ TOTAL CANADA...................... 94,843,953 8.7% ----------- ------ CHINA -- (0.0%) Other Securities.............. 51,642 0.0% ----------- ------ COLOMBIA -- (0.0%) Other Securities.............. 2,213 0.0% ----------- ------ DENMARK -- (1.3%) Other Securities.............. 15,730,926 1.4% ----------- ------ FINLAND -- (1.9%) #* Nokia Oyj..................... 440,404 3,347,413 0.3% UPM-Kymmene Oyj............... 178,005 2,826,228 0.3% Other Securities.............. 16,074,028 1.4% ----------- ------ TOTAL FINLAND..................... 22,247,669 2.0% ----------- ------ FRANCE -- (6.1%) * Alcatel-Lucent................ 863,979 3,309,951 0.3% BNP Paribas SA................ 36,071 2,661,070 0.3% Cie de St-Gobain.............. 45,709 2,399,268 0.2% Lafarge SA.................... 30,333 2,092,837 0.2% Renault SA.................... 28,018 2,444,577 0.2% Sanofi........................ 23,775 2,534,965 0.2% Societe Generale SA........... 59,410 3,356,041 0.3% Other Securities.............. 54,255,917 5.0% ----------- ------ TOTAL FRANCE...................... 73,054,626 6.7% ----------- ------ GERMANY -- (5.4%) Allianz SE.................... 20,504 3,442,669 0.3% * Commerzbank AG................ 151,865 1,942,295 0.2% Daimler AG.................... 25,279 2,069,712 0.2% 90 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- GERMANY -- (Continued) Deutsche Bank AG...................... 46,645 $ 2,253,886 0.2% RWE AG................................ 73,139 2,694,593 0.3% Other Securities...................... 52,453,443 4.7% ------------ ------ TOTAL GERMANY............................. 64,856,598 5.9% ------------ ------ GREECE -- (0.3%) Other Securities...................... 3,680,643 0.3% ------------ ------ HONG KONG -- (2.6%) Other Securities...................... 31,197,896 2.9% ------------ ------ IRELAND -- (0.5%) Other Securities...................... 6,326,288 0.6% ------------ ------ ISRAEL -- (0.6%) Other Securities...................... 7,219,308 0.7% ------------ ------ ITALY -- (2.2%) Unione di Banche Italiane SCPA........ 368,830 2,549,144 0.3% Other Securities...................... 24,399,697 2.2% ------------ ------ TOTAL ITALY............................... 26,948,841 2.5% ------------ ------ JAPAN -- (20.3%) Mitsubishi UFJ Financial Group, Inc... 543,100 3,458,604 0.3% Mizuho Financial Group, Inc........... 1,011,060 2,122,278 0.2% Sumitomo Mitsui Financial Group, Inc.. 55,941 2,703,957 0.3% Other Securities...................... 235,086,487 21.5% ------------ ------ TOTAL JAPAN............................... 243,371,326 22.3% ------------ ------ NETHERLANDS -- (2.5%) Aegon NV.............................. 279,663 2,225,243 0.2% Other Securities...................... 27,729,184 2.5% ------------ ------ TOTAL NETHERLANDS......................... 29,954,427 2.7% ------------ ------ NEW ZEALAND -- (0.4%) Other Securities...................... 4,583,440 0.4% ------------ ------ NORWAY -- (1.0%) Other Securities...................... 11,920,580 1.1% ------------ ------ PORTUGAL -- (0.4%) Other Securities...................... 4,751,005 0.4% ------------ ------ RUSSIA -- (0.0%) Other Securities...................... 64,369 0.0% ------------ ------ SINGAPORE -- (1.4%) Other Securities...................... 17,230,672 1.6% ------------ ------ SPAIN -- (2.2%) Banco de Sabadell SA.................. 872,241 2,234,946 0.2% * Banco Popular Espanol SA.............. 406,071 2,303,382 0.2% Banco Santander SA.................... 288,859 2,560,815 0.3% Other Securities...................... 18,653,430 1.7% ------------ ------ TOTAL SPAIN............................... 25,752,573 2.4% ------------ ------ 91 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- SWEDEN -- (2.8%) Other Securities........................ $ 33,475,511 3.1% -------------- ------ SWITZERLAND -- (6.1%) Credit Suisse Group AG.................. 144,732 4,502,315 0.4% Holcim, Ltd............................. 29,383 2,185,491 0.2% Julius Baer Group, Ltd.................. 47,955 2,352,468 0.2% Lonza Group AG.......................... 23,146 2,066,079 0.2% Nestle SA............................... 61,616 4,447,684 0.4% Novartis AG ADR......................... 28,202 2,187,065 0.2% Swiss Re AG............................. 48,833 4,286,688 0.4% Zurich Insurance Group AG............... 17,448 4,821,287 0.5% Other Securities........................ 46,729,698 4.2% -------------- ------ TOTAL SWITZERLAND........................... 73,578,775 6.7% -------------- ------ UNITED KINGDOM -- (16.2%) Anglo American P.L.C.................... 146,774 3,489,782 0.3% Barratt Developments P.L.C.............. 423,037 2,268,564 0.2% BP P.L.C................................ 297,377 2,308,419 0.2% BP P.L.C. Sponsored ADR................. 103,538 4,814,517 0.5% # HSBC Holdings P.L.C. Sponsored ADR...... 175,852 9,678,894 0.9% Legal & General Group P.L.C............. 566,357 1,962,884 0.2% * Lloyds Banking Group P.L.C.............. 2,002,798 2,477,053 0.2% Old Mutual P.L.C........................ 627,407 2,044,744 0.2% Resolution, Ltd......................... 479,648 2,746,351 0.3% Royal Dutch Shell P.L.C. ADR(780259206). 60,794 4,052,528 0.4% Royal Dutch Shell P.L.C. ADR(780259107). 88,550 6,155,996 0.6% RSA Insurance Group P.L.C............... 981,571 2,021,573 0.2% Vodafone Group P.L.C. Sponsored ADR..... 165,738 6,102,473 0.6% Other Securities........................ 144,571,988 13.1% -------------- ------ TOTAL UNITED KINGDOM........................ 194,695,766 17.9% -------------- ------ UNITED STATES -- (0.0%) Other Securities........................ 50,776 0.0% -------------- ------ TOTAL COMMON STOCKS......................... 1,081,642,560 99.2% -------------- ------ PREFERRED STOCKS -- (0.0%) FRANCE -- (0.0%) Other Securities........................ 1 0.0% -------------- ------ GERMANY -- (0.0%) Other Securities........................ 188,714 0.0% -------------- ------ UNITED KINGDOM -- (0.0%) Other Securities........................ 9,032 0.0% -------------- ------ TOTAL PREFERRED STOCKS...................... 197,747 0.0% -------------- ------ RIGHTS/WARRANTS -- (0.0%) AUSTRALIA -- (0.0%) Other Securities........................ -- 0.0% -------------- ------ AUSTRIA -- (0.0%) Other Securities........................ -- 0.0% -------------- ------ FRANCE -- (0.0%) Other Securities........................ 16 0.0% -------------- ------ 92 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- HONG KONG -- (0.0%) Other Securities................................................. $ -- 0.0% -------------- ------ ITALY -- (0.0%) Other Securities................................................. 1,046 0.0% -------------- ------ SPAIN -- (0.0%) Other Securities................................................. 62,360 0.0% -------------- ------ TOTAL RIGHTS/WARRANTS.................................................. 63,422 0.0% -------------- ------ SHARES/ FACE AMOUNT VALUE+ ------- ------ (000) SECURITIES LENDING COLLATERAL -- (9.9%) (S)@ DFA Short Term Investment Fund................................... 10,285,220 119,000,000 10.9% @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $169,878 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $153,624) to be repurchased at $150,613............... $ 151 150,612 0.0% -------------- ------ TOTAL SECURITIES LENDING COLLATERAL.................................... 119,150,612 10.9% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $978,641,888)................................................ $1,201,054,341 110.1% ============== ====== 93 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) -------------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ------------ -------------- ------- -------------- Common Stocks Australia................... $ 1,168,941 $ 73,000,813 -- $ 74,169,754 Austria..................... -- 6,056,086 -- 6,056,086 Belgium..................... 875,336 14,951,561 -- 15,826,897 Canada...................... 94,837,465 6,488 -- 94,843,953 China....................... 5,467 46,175 -- 51,642 Colombia.................... 2,213 -- -- 2,213 Denmark..................... -- 15,730,926 -- 15,730,926 Finland..................... -- 22,247,669 -- 22,247,669 France...................... 2,155,798 70,898,828 -- 73,054,626 Germany..................... 4,279,468 60,577,130 -- 64,856,598 Greece...................... 4,844 3,675,799 -- 3,680,643 Hong Kong................... 279,902 30,917,994 -- 31,197,896 Ireland..................... 1,757,074 4,569,214 -- 6,326,288 Israel...................... 922,161 6,297,147 -- 7,219,308 Italy....................... 1,296,432 25,652,409 -- 26,948,841 Japan....................... 4,504,801 238,866,525 -- 243,371,326 Netherlands................. 5,157,662 24,796,765 -- 29,954,427 New Zealand................. 5,022 4,578,418 -- 4,583,440 Norway...................... 595,569 11,325,011 -- 11,920,580 Portugal.................... -- 4,751,005 -- 4,751,005 Russia...................... -- 64,369 -- 64,369 Singapore................... -- 17,230,672 -- 17,230,672 Spain....................... 1,257,668 24,494,905 -- 25,752,573 Sweden...................... 13,424 33,462,087 -- 33,475,511 Switzerland................. 5,618,343 67,960,432 -- 73,578,775 United Kingdom.............. 37,975,431 156,720,335 -- 194,695,766 United States............... 50,776 -- -- 50,776 Preferred Stocks France...................... 1 -- -- 1 Germany..................... -- 188,714 -- 188,714 United Kingdom.............. -- 9,032 -- 9,032 Rights/Warrants Australia................... -- -- -- -- Austria..................... -- -- -- -- France...................... -- 16 -- 16 Hong Kong................... -- -- -- -- Italy....................... -- 1,046 -- 1,046 Spain....................... -- 62,360 -- 62,360 Securities Lending Collateral. -- 119,150,612 -- 119,150,612 ------------ -------------- -- -------------- TOTAL......................... $162,763,798 $1,038,290,543 -- $1,201,054,341 ============ ============== == ============== See accompanying Notes to Financial Statements. 94 WORLD EX U.S. VALUE PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 SHARES VALUE+ ------- ------------ AFFILIATED INVESTMENT COMPANIES -- (100.0%) Investment in The DFA International Value Series of The DFA Investment Trust Company........................... $ 82,013,299 Investment in Dimensional Emerging Markets Value Fund........ 24,814,665 Investment in DFA International Small Cap Value Portfolio of DFA Investment Dimensions Group Inc........................ 526,844 10,626,448 ------------ TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANIES (Cost $102,161,430)..................................... 117,454,412 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $102,161,430)..................................... $117,454,412 ============ Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ----------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ------------ ------- ------- ------------ Affiliated Investment Companies. $117,454,412 -- -- $117,454,412 ------------ -- -- ------------ TOTAL........................... $117,454,412 -- -- $117,454,412 ============ == == ============ See accompanying Notes to Financial Statements. 95 WORLD EX U.S. TARGETED VALUE PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 SHARES VALUE+ --------- ----------- AFFILIATED INVESTMENT COMPANIES -- (100.0%) Investment in DFA International Small Cap Value Portfolio of DFA Investment Dimensions Group Inc........................ 2,950,303 $59,507,603 Investment in Dimensional Emerging Markets Value Fund........ 22,063,755 Investment in International Vector Equity Portfolio of DFA Investment Dimensions Group Inc........................ 735,217 8,638,806 Investment in The Emerging Markets Small Cap Series of The DFA Investment Trust Company........................... 5,728,688 ----------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANIES (Cost $84,292,613)...................................... 95,938,852 ----------- TOTAL INVESTMENTS -- (100.0%) (Cost $84,292,613)...................................... $95,938,852 =========== Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) --------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ----------- ------- ------- ----------- Affiliated Investment Companies. $95,938,852 -- -- $95,938,852 ----------- -- -- ----------- TOTAL........................... $95,938,852 -- -- $95,938,852 =========== == == =========== See accompanying Notes to Financial Statements. 96 WORLD EX U.S. CORE EQUITY PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 SHARES VALUE+ --------- ------------ AFFILIATED INVESTMENT COMPANIES -- (100.0%) Investment in International Core Equity Portfolio of DFA Investment Dimensions Group Inc.................... 7,934,151 $ 99,732,282 Investment in Emerging Markets Core Equity Portfolio of DFA Investment Dimensions Group Inc.................... 1,478,473 29,702,529 ------------ TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANIES (Cost $117,714,895)................................. 129,434,811 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $117,714,895)................................. $129,434,811 ============ Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ----------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ------------ ------- ------- ------------ Affiliated Investment Companies. $129,434,811 -- -- $129,434,811 ------------ -- -- ------------ TOTAL........................... $129,434,811 -- -- $129,434,811 ============ == == ============ See accompanying Notes to Financial Statements. 97 SELECTIVELY HEDGED GLOBAL EQUITY PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 SHARES VALUE+ --------- ----------- AFFILIATED INVESTMENT COMPANIES -- (100.0%) Investment in U.S. Core Equity 2 Portfolio of DFA Investment Dimensions Group Inc.................... 2,406,753 $37,593,478 Investment in International Core Equity Portfolio of DFA Investment Dimensions Group Inc.................... 2,772,248 34,847,158 Investment in Emerging Markets Core Equity Portfolio of DFA Investment Dimensions Group Inc.................... 755,956 15,187,160 ----------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANIES (Cost $72,257,364).................................. 87,627,796 ----------- TOTAL INVESTMENTS -- (100.0%) (Cost $72,257,364).................................. $87,627,796 =========== Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) --------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ----------- ------- ------- ----------- Affiliated Investment Companies. $87,627,796 -- -- $87,627,796 Futures Contracts**............. 132,768 -- -- 132,768 Forward Currency Contracts**.... -- $28,113 -- 28,113 ----------- ------- -- ----------- TOTAL........................... $87,760,564 $28,113 -- $87,788,677 =========== ======= == =========== **Not reflected in the Schedule of Investments, valued at the unrealized appreciation/(depreciation) on the investment. (Note H) See accompanying Notes to Financial Statements. 98 SCHEDULES OF INVESTMENTS OCTOBER 31, 2013 EMERGING MARKETS PORTFOLIO VALUE+ -------------- AFFILIATED INVESTMENT COMPANY -- (100.0%) Investment in The Emerging Markets Series of The DFA Investment Trust Company..................... $3,653,886,907 -------------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANY (Cost $2,522,234,797)............................. $3,653,886,907 ============== Summary of the Portfolio's Master Fund's investments as of October 31, 2013, based on their valuation inputs, is located within this report (See Security Valuation Note). EMERGING MARKETS SMALL CAP PORTFOLIO VALUE+ -------------- AFFILIATED INVESTMENT COMPANY -- (100.0%) Investment in The Emerging Markets Small Cap Series of The DFA Investment Trust Company..................... $4,037,179,777 -------------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANY (Cost $3,582,520,729)............................. $4,037,179,777 ============== Summary of the Portfolio's Master Fund's investments as of October 31, 2013, based on their valuation inputs, is located within this report (See Security Valuation Note). EMERGING MARKETS VALUE PORTFOLIO VALUE+ --------------- AFFILIATED INVESTMENT COMPANY -- (100.0%) Investment in Dimensional Emerging Markets Value Fund.. $19,256,425,152 --------------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANY (Cost $18,840,666,697)............................ $19,256,425,152 =============== Summary of the Portfolio's Master Fund's investments as of October 31, 2013, based on their valuation inputs, is located within this report (See Security Valuation Note). See accompanying Notes to Financial Statements. 99 EMERGING MARKETS CORE EQUITY PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- COMMON STOCKS -- (88.4%) BRAZIL -- (9.1%) Banco Bradesco SA................................... 2,129,629 $ 34,299,515 0.3% # Banco Bradesco SA ADR............................... 5,097,969 73,512,708 0.6% Banco do Brasil SA.................................. 2,450,339 32,434,641 0.3% BM&FBovespa SA...................................... 7,415,089 41,792,285 0.3% Gerdau SA Sponsored ADR............................. 3,674,735 29,140,649 0.2% # Itau Unibanco Holding SA ADR........................ 5,554,966 85,602,024 0.7% Petroleo Brasileiro SA ADR.......................... 3,861,209 67,300,873 0.5% # Petroleo Brasileiro SA Sponsored ADR................ 5,128,535 93,134,196 0.7% # Vale SA Sponsored ADR(91912E105).................... 3,426,868 54,864,157 0.4% Vale SA Sponsored ADR(91912E204).................... 4,029,593 58,993,242 0.5% Other Securities.................................... 724,890,322 5.4% -------------- ----- TOTAL BRAZIL............................................ 1,295,964,612 9.9% -------------- ----- CHILE -- (1.4%) Other Securities.................................... 201,874,444 1.5% -------------- ----- CHINA -- (13.7%) Bank of China, Ltd. Class H......................... 145,776,702 68,633,093 0.5% China Construction Bank Corp. Class H............... 152,896,302 118,957,385 0.9% # China Mobile, Ltd. Sponsored ADR.................... 1,489,143 77,465,219 0.6% CNOOC, Ltd.......................................... 15,368,000 31,179,535 0.3% CNOOC, Ltd. ADR..................................... 175,892 35,584,711 0.3% Industrial & Commercial Bank of China, Ltd. Class H. 143,278,725 100,257,149 0.8% Tencent Holdings, Ltd............................... 970,900 52,968,595 0.4% Other Securities.................................... 1,465,753,971 11.2% -------------- ----- TOTAL CHINA............................................. 1,950,799,658 15.0% -------------- ----- COLOMBIA -- (0.5%) Other Securities.................................... 72,542,345 0.6% -------------- ----- CZECH REPUBLIC -- (0.3%) Other Securities.................................... 40,313,246 0.3% -------------- ----- EGYPT -- (0.0%) Other Securities.................................... 6,886,974 0.1% -------------- ----- HONG KONG -- (0.0%) Other Securities.................................... 773,692 0.0% -------------- ----- HUNGARY -- (0.3%) Other Securities.................................... 39,695,409 0.3% -------------- ----- INDIA -- (6.1%) HDFC Bank, Ltd...................................... 2,994,559 33,307,680 0.3% # Infosys, Ltd. Sponsored ADR......................... 669,643 35,531,258 0.3% Reliance Industries, Ltd............................ 3,724,395 55,433,229 0.4% Other Securities.................................... 745,642,395 5.7% -------------- ----- TOTAL INDIA............................................. 869,914,562 6.7% -------------- ----- INDONESIA -- (2.3%) Other Securities.................................... 334,715,998 2.6% -------------- ----- ISRAEL -- (0.0%) Other Securities.................................... 330,970 0.0% -------------- ----- 100 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- MALAYSIA -- (4.1%) CIMB Group Holdings Bhd................... 14,070,063 $ 33,444,890 0.3% Malayan Banking Bhd....................... 12,903,788 39,996,828 0.3% Other Securities.......................... 509,663,424 3.9% -------------- ----- TOTAL MALAYSIA................................ 583,105,142 4.5% -------------- ----- MEXICO -- (4.8%) Alfa S.A.B. de C.V. Class A............... 12,826,789 35,116,435 0.3% # America Movil S.A.B. de C.V. Series L ADR. 2,589,383 55,438,689 0.4% #* Cemex S.A.B. de C.V. Sponsored ADR........ 6,149,067 65,057,129 0.5% # Fomento Economico Mexicano S.A.B. de C.V. Sponsored ADR............................ 555,503 51,828,430 0.4% Grupo Financiero Banorte S.A.B. de C.V.... 8,197,629 52,475,884 0.4% Grupo Mexico S.A.B. de C.V. Series B...... 12,013,141 38,072,650 0.3% # Grupo Televisa S.A.B. Sponsored ADR....... 1,810,392 55,108,332 0.4% Other Securities.......................... 332,326,572 2.6% -------------- ----- TOTAL MEXICO.................................. 685,424,121 5.3% -------------- ----- PERU -- (0.1%) Other Securities.......................... 18,921,333 0.1% -------------- ----- PHILIPPINES -- (1.3%) Other Securities.......................... 188,172,356 1.4% -------------- ----- POLAND -- (1.7%) Other Securities.......................... 244,111,479 1.9% -------------- ----- RUSSIA -- (3.8%) Gazprom OAO Sponsored ADR................. 19,360,421 180,969,619 1.4% # Lukoil OAO Sponsored ADR.................. 1,464,268 95,900,562 0.7% Sberbank of Russia Sponsored ADR.......... 5,532,517 70,552,743 0.6% Tatneft OAO Sponsored ADR................. 739,208 30,365,137 0.2% Other Securities.......................... 162,340,575 1.2% -------------- ----- TOTAL RUSSIA.................................. 540,128,636 4.1% -------------- ----- SOUTH AFRICA -- (6.7%) FirstRand, Ltd............................ 9,125,832 32,761,624 0.3% MTN Group, Ltd............................ 3,230,167 64,206,532 0.5% Naspers, Ltd. Class N..................... 631,382 59,099,733 0.5% Sanlam, Ltd............................... 7,258,066 38,943,664 0.3% Sasol, Ltd................................ 765,727 39,126,959 0.3% # Sasol, Ltd. Sponsored ADR................. 869,022 44,337,502 0.3% # Standard Bank Group, Ltd.................. 3,305,953 42,058,657 0.3% Other Securities.......................... 632,836,511 4.8% -------------- ----- TOTAL SOUTH AFRICA............................ 953,371,182 7.3% -------------- ----- SOUTH KOREA -- (13.6%) Hana Financial Group, Inc................. 1,071,129 41,187,342 0.3% Hyundai Mobis............................. 136,261 38,436,499 0.3% Hyundai Motor Co.......................... 344,450 82,063,088 0.6% # Kia Motors Corp........................... 584,259 33,946,142 0.3% # POSCO ADR................................. 473,943 35,289,796 0.3% Samsung Electronics Co., Ltd.............. 204,504 282,022,914 2.2% Other Securities.......................... 1,425,493,978 10.9% -------------- ----- TOTAL SOUTH KOREA............................. 1,938,439,759 14.9% -------------- ----- 101 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- TAIWAN -- (13.6%) CTBC Financial Holding Co., Ltd.............. 43,121,191 $ 29,250,510 0.2% Hon Hai Precision Industry Co., Ltd.......... 28,489,623 72,428,987 0.6% # Taiwan Semiconductor Manufacturing Co., Ltd.. 40,714,652 150,056,501 1.2% Other Securities............................. 1,695,589,463 13.0% --------------- ------ TOTAL TAIWAN..................................... 1,947,325,461 15.0% --------------- ------ THAILAND -- (2.9%) Other Securities............................. 415,125,485 3.2% --------------- ------ TURKEY -- (2.1%) Other Securities............................. 298,790,261 2.3% --------------- ------ UNITED STATES -- (0.0%) Other Securities............................. 126,755 0.0% --------------- ------ TOTAL COMMON STOCKS.............................. 12,626,853,880 97.0% --------------- ------ PREFERRED STOCKS -- (1.9%) BRAZIL -- (1.8%) Itau Unibanco Holding SA..................... 2,951,785 45,672,482 0.4% Other Securities............................. 209,006,990 1.5% --------------- ------ TOTAL BRAZIL..................................... 254,679,472 1.9% --------------- ------ CHILE -- (0.0%) Other Securities............................. 2,111,459 0.0% --------------- ------ COLOMBIA -- (0.1%) Other Securities............................. 8,313,715 0.1% --------------- ------ TOTAL PREFERRED STOCKS........................... 265,104,646 2.0% --------------- ------ RIGHTS/WARRANTS -- (0.0%) BRAZIL -- (0.0%) Other Securities............................. 11,935 0.0% --------------- ------ CHILE -- (0.0%) Other Securities............................. 31 0.0% --------------- ------ MALAYSIA -- (0.0%) Other Securities............................. 174,504 0.0% --------------- ------ POLAND -- (0.0%) Other Securities............................. -- 0.0% --------------- ------ SOUTH KOREA -- (0.0%) Other Securities............................. 15,747 0.0% --------------- ------ THAILAND -- (0.0%) Other Securities............................. 36,842 0.0% --------------- ------ TOTAL RIGHTS/WARRANTS............................ 239,059 0.0% --------------- ------ 102 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES/ FACE PERCENTAGE AMOUNT VALUE+ OF NET ASSETS** ------- ------ --------------- (000) SECURITIES LENDING COLLATERAL -- (9.7%) (S)@ DFA Short Term Investment Fund.............................. 118,582,541 $ 1,372,000,000 10.5% @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $12,370,390 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $11,186,777) to be repurchased at $10,967,465................................. $ 10,967 10,967,428 0.1% --------------- ------ TOTAL SECURITIES LENDING COLLATERAL............................... 1,382,967,428 10.6% --------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $13,051,760,683)...................................... $14,275,165,013 109.6% =============== ====== 103 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ------------------------------------------------------ LEVEL 1 LEVEL 2 LEVEL 3 TOTAL -------------- --------------- ------- --------------- Common Stocks Brazil...................... $ 673,687,040 $ 622,277,572 -- $ 1,295,964,612 Chile....................... 53,152,182 148,722,262 -- 201,874,444 China....................... 209,489,377 1,741,310,281 -- 1,950,799,658 Colombia.................... 72,542,345 -- -- 72,542,345 Czech Republic.............. -- 40,313,246 -- 40,313,246 Egypt....................... -- 6,886,974 -- 6,886,974 Hong Kong................... -- 773,692 -- 773,692 Hungary..................... 248,373 39,447,036 -- 39,695,409 India....................... 77,607,096 792,307,466 -- 869,914,562 Indonesia................... 13,389,435 321,326,563 -- 334,715,998 Israel...................... -- 330,970 -- 330,970 Malaysia.................... -- 583,105,142 -- 583,105,142 Mexico...................... 685,300,950 123,171 -- 685,424,121 Peru........................ 18,921,333 -- -- 18,921,333 Philippines................. 3,409,239 184,763,117 -- 188,172,356 Poland...................... 84,720 244,026,759 -- 244,111,479 Russia...................... 21,167,946 518,960,690 -- 540,128,636 South Africa................ 81,220,811 872,150,371 -- 953,371,182 South Korea................. 93,287,756 1,845,152,003 -- 1,938,439,759 Taiwan...................... 41,170,777 1,906,154,684 -- 1,947,325,461 Thailand.................... 415,119,288 6,197 -- 415,125,485 Turkey...................... 4,597,018 294,193,243 -- 298,790,261 United States............... -- 126,755 -- 126,755 Preferred Stocks Brazil...................... 4,574,692 250,104,780 -- 254,679,472 Chile....................... -- 2,111,459 -- 2,111,459 Colombia.................... 8,313,715 -- -- 8,313,715 Rights/Warrants Brazil...................... -- 11,935 -- 11,935 Chile....................... -- 31 -- 31 Malaysia.................... -- 174,504 -- 174,504 Poland...................... -- -- -- -- South Korea................. -- 15,747 -- 15,747 Thailand.................... -- 36,842 -- 36,842 Securities Lending Collateral. -- 1,382,967,428 -- 1,382,967,428 -------------- --------------- -- --------------- TOTAL......................... $2,477,284,093 $11,797,880,920 -- $14,275,165,013 ============== =============== == =============== See accompanying Notes to Financial Statements. 104 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS) ENHANCED U.S. LARGE COMPANY U.S. LARGE CAP U.S. LARGE CAP PORTFOLIO EQUITY PORTFOLIO VALUE PORTFOLIO - ------------ ---------------- --------------- ASSETS: Investments in Affiliated Investment Company at Value............... -- -- $ 11,967,120 Investments at Value (including $0, $32,917, $0 and $603,977 of securities on loan, respectively).................................. $ 211,548 $ 134,084 -- Temporary Cash Investments at Value & Cost.......................... -- 2,237 -- Collateral from Securities on Loan Invested in Affiliate at Value & Cost............................................................... -- 33,752 -- Foreign Currencies at Value......................................... 3,367 -- -- Cash................................................................ 679 -- -- Receivables: Investment Securities/Affiliated Investment Company Sold.......... 11,265 -- -- Dividends, Interest and Tax Reclaims.............................. 1,140 110 -- Securities Lending Income......................................... -- 4 -- Fund Shares Sold.................................................. 19 947 9,362 From Advisor...................................................... -- 1 -- Unrealized Gain on Forward Currency Contracts....................... 101 -- -- Unrealized Gain on Foreign Currency Contracts....................... 10 -- -- Deferred Offering Costs............................................. -- 28 -- Prepaid Expenses and Other Assets................................... 16 8 91 ------------ ------------ -------------- Total Assets.................................................... 228,145 171,171 11,976,573 ------------ ------------ -------------- LIABILITIES: Payables: Upon Return of Securities Loaned.................................. -- 33,752 -- Investment Securities/Affiliated Investment Company Purchased........................................................ 13,374 1,914 -- Fund Shares Redeemed.............................................. 433 77 11,554 Due to Advisor.................................................... 36 -- 1,477 Futures Margin Variation.......................................... 1,121 -- -- Unrealized Loss on Forward Currency Contracts....................... 318 -- -- Accrued Expenses and Other Liabilities.............................. 23 21 470 ------------ ------------ -------------- Total Liabilities............................................... 15,305 35,764 13,501 ------------ ------------ -------------- NET ASSETS.......................................................... $ 212,840 $ 135,407 $ 11,963,072 ============ ============ ============== NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE: Class R1 Shares -- based on net assets of $0; $0; $0 and $9,470 and shares outstanding of 0; 0; 0 and 418,568, respectively........ N/A N/A N/A ============ ============ ============== NUMBER OF SHARES AUTHORIZED......................................... N/A N/A N/A ============ ============ ============== Class R2 Shares -- based on net assets of $0; $0; $0 and $23,305 and shares outstanding of 0; 0; 0 and 1,032,756, respectively....................................................... N/A N/A N/A ============ ============ ============== NUMBER OF SHARES AUTHORIZED......................................... N/A N/A N/A ============ ============ ============== Institutional Class Shares -- based on net assets of $212,840; $135,407; $11,963,072 and $4,180,974 and shares outstanding of 18,187,882; 12,227,071; 402,570,195 and 184,963,719, respectively....................................................... $ 11.70 $ 11.07 $ 29.72 ============ ============ ============== NUMBER OF SHARES AUTHORIZED......................................... 300,000,000 100,000,000 2,000,000,000 ============ ============ ============== Investments in Affiliated Investment Company at Cost................ $ -- $ -- $ 7,741,067 ============ ============ ============== Investments at Cost................................................. $ 207,573 $ 123,524 $ -- ============ ============ ============== Foreign Currencies at Cost.......................................... $ 3,401 $ -- $ -- ============ ============ ============== NET ASSETS CONSIST OF: Paid-In Capital..................................................... $ 209,974 $ 124,529 $ 8,221,868 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)............................................. 200 281 28,203 Accumulated Net Realized Gain (Loss)................................ (8,972) 37 (513,052) Net Unrealized Foreign Exchange Gain (Loss)......................... (217) -- -- Net Unrealized Appreciation (Depreciation).......................... 11,855 10,560 4,226,053 ------------ ------------ -------------- NET ASSETS.......................................................... $ 212,840 $ 135,407 $ 11,963,072 ============ ============ ============== U.S. TARGETED VALUE PORTFOLIO - --------------- ASSETS: Investments in Affiliated Investment Company at Value............... -- Investments at Value (including $0, $32,917, $0 and $603,977 of securities on loan, respectively).................................. $ 4,177,782 Temporary Cash Investments at Value & Cost.......................... 25,535 Collateral from Securities on Loan Invested in Affiliate at Value & Cost............................................................... 623,299 Foreign Currencies at Value......................................... -- Cash................................................................ 682 Receivables: Investment Securities/Affiliated Investment Company Sold.......... 7,259 Dividends, Interest and Tax Reclaims.............................. 1,194 Securities Lending Income......................................... 212 Fund Shares Sold.................................................. 11,574 From Advisor...................................................... -- Unrealized Gain on Forward Currency Contracts....................... -- Unrealized Gain on Foreign Currency Contracts....................... -- Deferred Offering Costs............................................. -- Prepaid Expenses and Other Assets................................... 52 ------------ Total Assets.................................................... 4,847,589 ------------ LIABILITIES: Payables: Upon Return of Securities Loaned.................................. 623,299 Investment Securities/Affiliated Investment Company Purchased........................................................ 6,934 Fund Shares Redeemed.............................................. 1,994 Due to Advisor.................................................... 1,255 Futures Margin Variation.......................................... -- Unrealized Loss on Forward Currency Contracts....................... -- Accrued Expenses and Other Liabilities.............................. 358 ------------ Total Liabilities............................................... 633,840 ------------ NET ASSETS.......................................................... $ 4,213,749 ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE: Class R1 Shares -- based on net assets of $0; $0; $0 and $9,470 and shares outstanding of 0; 0; 0 and 418,568, respectively........ 22.63 ============ NUMBER OF SHARES AUTHORIZED......................................... 100,000,000 ============ Class R2 Shares -- based on net assets of $0; $0; $0 and $23,305 and shares outstanding of 0; 0; 0 and 1,032,756, respectively....................................................... 22.57 ============ NUMBER OF SHARES AUTHORIZED......................................... 100,000,000 ============ Institutional Class Shares -- based on net assets of $212,840; $135,407; $11,963,072 and $4,180,974 and shares outstanding of 18,187,882; 12,227,071; 402,570,195 and 184,963,719, respectively....................................................... $ 22.60 ============ NUMBER OF SHARES AUTHORIZED......................................... 700,000,000 ============ Investments in Affiliated Investment Company at Cost................ $ -- ============ Investments at Cost................................................. $ 2,844,192 ============ Foreign Currencies at Cost.......................................... $ -- ============ NET ASSETS CONSIST OF: Paid-In Capital..................................................... $ 2,629,141 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)............................................. 484 Accumulated Net Realized Gain (Loss)................................ 250,534 Net Unrealized Foreign Exchange Gain (Loss)......................... -- Net Unrealized Appreciation (Depreciation).......................... 1,333,590 ------------ NET ASSETS.......................................................... $ 4,213,749 ============ See accompanying Notes to Financial Statements. 105 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS) U.S. CORE U.S. CORE U.S. VECTOR U.S. SMALL CAP EQUITY 1 EQUITY 2 EQUITY VALUE PORTFOLIO PORTFOLIO PORTFOLIO PORTFOLIO --------------- -------------- -------------- -------------- ASSETS: Investments at Value (including $1,459,443, $712,697, $1,030,739 and $369,531 of securities on loan, respectively).............................. $ 9,470,398 $ 7,536,491 $ 9,966,682 $ 2,889,233 Temporary Cash Investments at Value & Cost........... 58,724 31,599 33,429 6,584 Collateral from Securities on Loan Invested in Affiliate at Value & Cost........................... 1,508,504 733,079 1,060,641 382,245 Cash................................................. 1,910 116 249 159 Receivables: Investment Securities Sold......................... 10,101 10 12 22 Dividends and Interest............................. 3,208 5,183 6,608 1,491 Securities Lending Income.......................... 463 290 427 200 Fund Shares Sold................................... 8,354 12,580 16,856 3,954 Prepaid Expenses and Other Assets.................... 101 135 107 45 -------------- -------------- -------------- -------------- Total Assets.................................... 11,061,763 8,319,483 11,085,011 3,283,933 -------------- -------------- -------------- -------------- LIABILITIES: Payables: Upon Return of Securities Loaned................... 1,508,504 733,079 1,060,641 382,245 Investment Securities Purchased.................... 15,676 15,331 27,957 4,588 Fund Shares Redeemed............................... 5,851 3,238 4,430 2,304 Due to Advisor..................................... 3,973 1,061 1,654 722 Accrued Expenses and Other Liabilities............... 778 595 765 232 -------------- -------------- -------------- -------------- Total Liabilities............................... 1,534,782 753,304 1,095,447 390,091 -------------- -------------- -------------- -------------- NET ASSETS........................................... $ 9,526,981 $ 7,566,179 $ 9,989,564 $ 2,893,842 ============== ============== ============== ============== NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE: Institutional Class Shares -- based on net assets of $9,526,981; $7,566,179; $9,989,564 and $2,893,842 and shares outstanding of 276,282,421; 480,572,749; 639,564,977 and 185,306,591, respectively........................... $ 34.48 $ 15.74 $ 15.62 $ 15.62 ============== ============== ============== ============== NUMBER OF SHARES AUTHORIZED.......................... 1,700,000,000 1,500,000,000 2,300,000,000 1,000,000,000 ============== ============== ============== ============== Investments at Cost.................................. $ 6,597,207 $ 5,237,337 $ 6,797,207 $ 1,961,480 ============== ============== ============== ============== NET ASSETS CONSIST OF: Paid-In Capital...................................... $ 6,214,232 $ 5,218,221 $ 6,704,700 $ 1,923,097 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)................. 1,366 14,478 14,555 3,096 Accumulated Net Realized Gain (Loss)................. 438,192 34,326 100,834 39,896 Net Unrealized Appreciation (Depreciation)........... 2,873,191 2,299,154 3,169,475 927,753 -------------- -------------- -------------- -------------- NET ASSETS........................................... $ 9,526,981 $ 7,566,179 $ 9,989,564 $ 2,893,842 ============== ============== ============== ============== See accompanying Notes to Financial Statements. 106 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS) DFA REAL ESTATE LARGE CAP U.S. SMALL CAP U.S. MICRO CAP SECURITIES INTERNATIONAL PORTFOLIO PORTFOLIO PORTFOLIO PORTFOLIO* -------------- -------------- ------------ ------------- ASSETS: Investments at Value (including $1,665,475, $805,423, $480,855 and $254,244 of securities on loan, respectively).............................................. $ 7,426,595 $ 4,683,423 $ 4,650,418 $ 2,743,088 Temporary Cash Investments at Value & Cost.................. 36,843 12,694 14,133 -- Collateral Received from Securities on Loan at Value & Cost....................................................... -- -- -- 339 Collateral from Securities on Loan Invested in Affiliate at Value & Cost............................................... 1,718,441 834,896 497,984 249,000 Foreign Currencies at Value................................. -- -- -- 5,513 Cash........................................................ 763 1,180 -- 7,027 Receivables: Investment Securities Sold................................ 13,342 5,015 -- -- Dividends, Interest and Tax Reclaims...................... 2,095 1,445 6,298 6,568 Securities Lending Income................................. 765 647 72 177 Fund Shares Sold.......................................... 8,859 2,100 9,344 1,319 Prepaid Expenses and Other Assets........................... 55 47 53 21 -------------- -------------- ------------ ------------ Total Assets........................................... 9,207,758 5,541,447 5,178,302 3,013,052 -------------- -------------- ------------ ------------ LIABILITIES: Payables: Upon Return of Securities Loaned.......................... 1,718,441 834,896 497,984 249,339 Investment Securities Purchased........................... 34,151 6,291 -- 4,905 Fund Shares Redeemed...................................... 5,540 2,072 1,957 2,851 Due to Advisor............................................ 2,166 1,966 492 574 Unrealized Loss on Foreign Currency Contracts............... -- -- -- 13 Accrued Expenses and Other Liabilities...................... 633 391 451 256 -------------- -------------- ------------ ------------ Total Liabilities...................................... 1,760,931 845,616 500,884 257,938 -------------- -------------- ------------ ------------ NET ASSETS.................................................. $ 7,446,827 $ 4,695,831 $ 4,677,418 $ 2,755,114 ============== ============== ============ ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE: Institutional Class Shares -- based on net assets of $7,446,827; $4,695,831; $4,677,418 and $2,755,114 and shares outstanding of 248,001,921; 239,125,446; 168,423,065 and 124,102,982, respectively.................. $ 30.03 $ 19.64 $ 27.77 $ 22.20 ============== ============== ============ ============ NUMBER OF SHARES AUTHORIZED................................. 1,000,000,000 1,500,000,000 700,000,000 500,000,000 ============== ============== ============ ============ Investments at Cost......................................... $ 5,223,959 $ 3,062,833 $ 3,317,741 $ 2,105,213 ============== ============== ============ ============ Foreign Currencies at Cost.................................. $ -- $ -- $ -- $ 5,504 ============== ============== ============ ============ NET ASSETS CONSIST OF: Paid-In Capital............................................. $ 5,020,485 $ 2,867,133 $ 3,572,655 $ 2,345,517 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)........................... 3,164 1,656 32,390 6,579 Accumulated Net Realized Gain (Loss)........................ 220,542 206,452 (260,304) (234,908) Net Unrealized Foreign Exchange Gain (Loss)................. -- -- -- 42 Net Unrealized Appreciation (Depreciation).................. 2,202,636 1,620,590 1,332,677 637,884 -------------- -------------- ------------ ------------ NET ASSETS.................................................. $ 7,446,827 $ 4,695,831 $ 4,677,418 $ 2,755,114 ============== ============== ============ ============ ---------- * See Note J in the Notes to Financial Statements for additional securities lending collateral. See accompanying Notes to Financial Statements. 107 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS) INTERNATIONAL JAPANESE ASIA PACIFIC INTERNATIONAL SMALL SMALL SMALL CORE EQUITY COMPANY COMPANY COMPANY PORTFOLIO* PORTFOLIO PORTFOLIO PORTFOLIO -------------- -------------- ------------ ------------ ASSETS: Investments in Affiliated Investment Companies at Value...................................................... -- $ 8,509,407 $ 414,295 $ 331,292 Investments at Value (including $1,069,370, $0, $0 and $0 of securities on loan, respectively)....................... $ 9,434,976 -- -- -- Temporary Cash.............................................. -- 12,173 -- -- Collateral Received from Securities on Loan at Value & Cost....................................................... 4,951 -- -- -- Collateral from Securities on Loan Invested in Affiliate at Value & Cost............................................... 1,075,000 -- -- -- Foreign Currencies at Value................................. 2,087 -- -- -- Cash........................................................ 38,004 -- -- -- Receivables: Investment Securities Sold................................ 380 -- -- -- Dividends, Interest and Tax Reclaims...................... 21,328 -- -- -- Securities Lending Income................................. 771 -- -- -- Fund Shares Sold.......................................... 17,948 4,045 -- 15 Prepaid Expenses and Other Assets........................... 127 56 7 7 -------------- -------------- ------------ ------------ Total Assets........................................... 10,595,572 8,525,681 414,302 331,314 -------------- -------------- ------------ ------------ LIABILITIES: Payables: Upon Return of Securities Loaned.......................... 1,079,951 -- -- -- Investment Securities Purchased........................... 647 -- -- -- Fund Shares Redeemed...................................... 2,917 1,771 6 7 Due to Advisor............................................ 2,762 2,846 140 112 Accrued Expenses and Other Liabilities...................... 829 347 24 29 -------------- -------------- ------------ ------------ Total Liabilities...................................... 1,087,106 4,964 170 148 -------------- -------------- ------------ ------------ NET ASSETS.................................................. $ 9,508,466 $ 8,520,717 $ 414,132 $ 331,166 ============== ============== ============ ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE: Institutional Class Shares -- based on net assets of $9,508,466; $8,520,717; $414,132 and $331,166 and shares outstanding of 756,633,598; 439,239,988; 21,422,259 and 13,342,290, respectively.................... $ 12.57 $ 19.40 $ 19.33 $ 24.82 ============== ============== ============ ============ NUMBER OF SHARES AUTHORIZED................................. 2,000,000,000 1,500,000,000 100,000,000 100,000,000 ============== ============== ============ ============ Investments in Affiliated Investment Companies at Cost...... $ -- $ 6,870,590 $ 389,680 $ 301,332 ============== ============== ============ ============ Investments at Cost......................................... $ 7,979,985 $ -- $ -- $ -- ============== ============== ============ ============ Foreign Currencies at Cost.................................. $ 2,101 $ -- $ -- $ -- ============== ============== ============ ============ NET ASSETS CONSIST OF: Paid-In Capital............................................. $ 8,141,579 $ 6,624,670 $ 452,510 $ 321,830 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)........................... 27,329 27,083 6,178 6,418 Accumulated Net Realized Gain (Loss)........................ (115,510) 230,130 (69,159) (27,045) Net Unrealized Foreign Exchange Gain (Loss)................. 91 17 (12) 3 Net Unrealized Appreciation (Depreciation).................. 1,454,977 1,638,817 24,615 29,960 -------------- -------------- ------------ ------------ NET ASSETS.................................................. $ 9,508,466 $ 8,520,717 $ 414,132 $ 331,166 ============== ============== ============ ============ ---------- * See Note J in the Notes to Financial Statements for additional securities lending collateral. See accompanying Notes to Financial Statements. 108 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS) DFA UNITED CONTINENTAL INTERNATIONAL DFA GLOBAL KINGDOM SMALL SMALL REAL ESTATE REAL ESTATE COMPANY COMPANY SECURITIES SECURITIES PORTFOLIO PORTFOLIO PORTFOLIO* PORTFOLIO ------------- ------------ ------------- ------------ ASSETS: Investments in Affiliated Investment Companies at Value............... $ 37,114 $ 170,800 -- $ 2,077,850 Investments at Value (including $0, $0, $131,048 and $0 of securities on loan, respectively)............................................... -- -- $ 2,144,767 -- Temporary Cash Investments at Value & Cost............................ -- -- -- 8,697 Collateral Received from Securities on Loan at Value & Cost........... -- -- 69 -- Collateral from Securities on Loan Invested in Affiliate at Value & Cost................................................................. -- -- 174,000 -- Foreign Currencies at Value........................................... -- -- 673 -- Cash.................................................................. -- -- 11,903 -- Receivables: Investment Securities/Affiliated Investment Company Sold............ -- -- 103 -- Dividends, Interest and Tax Reclaims................................ -- -- 6,543 2 Securities Lending Income........................................... -- -- 105 -- Fund Shares Sold.................................................... -- 97 3,134 4,833 Unrealized Gain on Foreign Currency Contracts......................... -- -- 3 -- Prepaid Expenses and Other Assets..................................... 7 7 20 55 ------------ ------------ ------------ ------------ Total Assets..................................................... 37,121 170,904 2,341,320 2,091,437 ------------ ------------ ------------ ------------ LIABILITIES: Payables: Upon Return of Securities Loaned.................................... -- -- 174,069 -- Investment Securities/Affiliated Investment Company Purchased....... -- -- 6,827 7,624 Fund Shares Redeemed................................................ -- 18 549 955 Due to Advisor...................................................... 12 57 626 2 Unrealized Loss on Foreign Currency Contracts......................... -- -- 28 -- Accrued Expenses and Other Liabilities................................ 13 23 244 149 ------------ ------------ ------------ ------------ Total Liabilities................................................ 25 98 182,343 8,730 ------------ ------------ ------------ ------------ NET ASSETS............................................................ $ 37,096 $ 170,806 $ 2,158,977 $ 2,082,707 ============ ============ ============ ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE: Institutional Class Shares -- based on net assets of $37,096; $170,806; $2,158,977 and $2,082,707 and shares outstanding of 1,003,742; 8,428,839; 393,952,649 and 217,181,753, respectively......................................................... $ 36.96 $ 20.26 $ 5.48 $ 9.59 ============ ============ ============ ============ NUMBER OF SHARES AUTHORIZED........................................... 100,000,000 100,000,000 700,000,000 500,000,000 ============ ============ ============ ============ Investments in Affiliated Investment Companies at Cost................ $ 22,831 $ 132,148 $ -- $ 1,711,546 ============ ============ ============ ============ Investments at Cost................................................... $ -- $ -- $ 1,877,357 $ -- ============ ============ ============ ============ Foreign Currencies at Cost............................................ $ -- $ -- $ 675 $ -- ============ ============ ============ ============ NET ASSETS CONSIST OF: Paid-In Capital....................................................... $ 22,451 $ 158,589 $ 2,279,985 $ 1,738,841 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)................................................... 129 92 (147,973) 11,624 Accumulated Net Realized Gain (Loss).................................. 229 (26,656) (240,429) (34,062) Net Unrealized Foreign Exchange Gain (Loss)........................... 4 129 (14) -- Net Unrealized Appreciation (Depreciation)............................ 14,283 38,652 267,408 366,304 ------------ ------------ ------------ ------------ NET ASSETS............................................................ $ 37,096 $ 170,806 $ 2,158,977 $ 2,082,707 ============ ============ ============ ============ ---------- * See Note J in the Notes to Financial Statements for additional securities lending collateral. See accompanying Notes to Financial Statements. 109 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS) DFA INTERNATIONAL INTERNATIONAL WORLD EX U.S. SMALL CAP VECTOR EQUITY WORLD EX U.S. TARGETED VALUE VALUE PORTFOLIO* PORTFOLIO* VALUE PORTFOLIO PORTFOLIO ---------------- ------------- --------------- -------------- ASSETS: Investments in Affiliated Investment Companies at Value...................................................... -- -- $ 117,454 $ 95,939 Investments at Value (including $1,010,674, $116,713, $0, $0 and $0 of securities on loan, respectively)......... $ 11,112,474 $ 1,081,903 -- -- Collateral Received from Securities on Loan at Value & Cost....................................................... 75 151 -- -- Collateral from Securities on Loan Invested in Affiliate at Value & Cost............................................... 1,053,000 119,000 -- -- Foreign Currencies at Value................................. 3,627 1,115 -- -- Cash........................................................ 8 9,288 49 225 Receivables: Investment Securities Sold................................ 4,725 74 -- -- Dividends, Interest and Tax Reclaims...................... 26,463 2,442 -- -- Securities Lending Income................................. 1,373 102 -- -- Fund Shares Sold.......................................... 16,462 568 152 21 From Advisor.............................................. -- -- -- -- Unrealized Gain on Foreign Currency Contracts............... 5 -- -- -- Deferred Offering Costs..................................... -- -- -- -- Prepaid Expenses and Other Assets........................... 77 22 14 25 -------------- ------------ ------------ ------------ Total Assets............................................ 12,218,289 1,214,665 117,669 96,210 -------------- ------------ ------------ ------------ LIABILITIES: Payables: Upon Return of Securities Loaned.......................... 1,053,075 119,151 -- -- Investment Securities Purchased........................... 2,598 3,507 -- 158 Fund Shares Redeemed...................................... 2,740 694 4 -- Due to Advisor............................................ 6,051 405 60 19 Loan Payable.............................................. 4,016 -- -- -- Unrealized Loss on Foreign Currency Contracts............... -- 6 -- -- Accrued Expenses and Other Liabilities...................... 910 128 18 23 -------------- ------------ ------------ ------------ Total Liabilities....................................... 1,069,390 123,891 82 200 -------------- ------------ ------------ ------------ NET ASSETS.................................................. $ 11,148,899 $ 1,090,774 $ 117,587 $ 96,010 ============== ============ ============ ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE: Institutional Class Shares -- based on net assets of $11,148,899; $1,090,774; $117,587; $96,010 and $129,720 and shares outstanding of 552,640,203; 92,844,717; 9,853,403; 7,704,431 and 12,048,498, respectively............................................... $ 20.17 $ 11.75 $ 11.93 $ 12.46 ============== ============ ============ ============ NUMBER OF SHARES AUTHORIZED................................. 2,300,000,000 500,000,000 100,000,000 100,000,000 ============== ============ ============ ============ Investments in Affiliated Investment Companies at Cost....................................................... $ -- $ -- $ 102,161 $ 84,293 ============== ============ ============ ============ Investments at Cost......................................... $ 9,094,196 $ 859,491 $ -- $ -- ============== ============ ============ ============ Foreign Currencies at Cost.................................. $ 3,630 $ 1,125 $ -- $ -- ============== ============ ============ ============ NET ASSETS CONSIST OF: Paid-In Capital............................................. $ 8,953,361 $ 858,839 $ 105,007 $ 83,251 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)........................... 15,456 2,486 187 15 Accumulated Net Realized Gain (Loss)........................ 161,681 7,027 (2,868) 1,098 Net Unrealized Foreign Exchange Gain (Loss)................. 126 20 (32) -- Net Unrealized Appreciation (Depreciation).................. 2,018,275 222,402 15,293 11,646 -------------- ------------ ------------ ------------ NET ASSETS.................................................. $ 11,148,899 $ 1,090,774 $ 117,587 $ 96,010 ============== ============ ============ ============ WORLD EX U.S. CORE EQUITY PORTFOLIO ------------- ASSETS: Investments in Affiliated Investment Companies at Value...................................................... $ 129,435 Investments at Value (including $1,010,674, $116,713, $0, $0 and $0 of securities on loan, respectively)......... -- Collateral Received from Securities on Loan at Value & Cost....................................................... -- Collateral from Securities on Loan Invested in Affiliate at Value & Cost............................................... -- Foreign Currencies at Value................................. -- Cash........................................................ 230 Receivables: Investment Securities Sold................................ -- Dividends, Interest and Tax Reclaims...................... -- Securities Lending Income................................. -- Fund Shares Sold.......................................... 295 From Advisor.............................................. 13 Unrealized Gain on Foreign Currency Contracts............... -- Deferred Offering Costs..................................... 3 Prepaid Expenses and Other Assets........................... 2 ------------ Total Assets............................................ 129,978 ------------ LIABILITIES: Payables: Upon Return of Securities Loaned.......................... -- Investment Securities Purchased........................... 165 Fund Shares Redeemed...................................... 68 Due to Advisor............................................ -- Loan Payable.............................................. -- Unrealized Loss on Foreign Currency Contracts............... -- Accrued Expenses and Other Liabilities...................... 25 ------------ Total Liabilities....................................... 258 ------------ NET ASSETS.................................................. $ 129,720 ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE: Institutional Class Shares -- based on net assets of $11,148,899; $1,090,774; $117,587; $96,010 and $129,720 and shares outstanding of 552,640,203; 92,844,717; 9,853,403; 7,704,431 and 12,048,498, respectively............................................... $ 10.77 ============ NUMBER OF SHARES AUTHORIZED................................. 100,000,000 ============ Investments in Affiliated Investment Companies at Cost....................................................... $ 117,715 ============ Investments at Cost......................................... $ -- ============ Foreign Currencies at Cost.................................. $ -- ============ NET ASSETS CONSIST OF: Paid-In Capital............................................. $ 118,032 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)........................... (1) Accumulated Net Realized Gain (Loss)........................ (31) Net Unrealized Foreign Exchange Gain (Loss)................. -- Net Unrealized Appreciation (Depreciation).................. 11,720 ------------ NET ASSETS.................................................. $ 129,720 ============ ---------- * See Note J in the Notes to Financial Statements for additional securities lending collateral. See accompanying Notes to Financial Statements. 110 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS) SELECTIVELY HEDGED GLOBAL EMERGING EMERGING EMERGING EQUITY MARKETS MARKETS SMALL MARKETS VALUE PORTFOLIO PORTFOLIO CAP PORTFOLIO PORTFOLIO ------------- ------------ ------------- -------------- ASSETS: Investments in Affiliated Investment Companies at Value......... $ 87,628 $ 3,653,887 $ 4,037,180 $ 19,256,425 Investments at Value (including $0, $0, $0, $0 and $1,608,604 of securities on loan, respectively)........................... -- -- -- -- Temporary Cash.................................................. 1,210 -- -- -- Collateral Received from Securities on Loan at Value & Cost..... -- -- -- -- Collateral from Securities on Loan Invested in Affiliate at Value & Cost................................................... -- -- -- -- Segregated Cash for Futures Contracts........................... 160 -- -- -- Foreign Currencies at Value..................................... -- -- -- -- Cash............................................................ 2,466 -- -- -- Receivables: Investment Securities/Affiliated Investment Companies Sold......................................................... -- -- -- -- Dividends, Interest and Tax Reclaims.......................... -- -- -- -- Securities Lending Income..................................... -- -- -- -- Fund Shares Sold.............................................. 16 4,737 7,077 25,739 Unrealized Gain on Forward Currency Contracts................... 90 -- -- -- Unrealized Gain on Foreign Currency Contracts................... -- -- -- -- Prepaid Expenses and Other Assets............................... 14 34 38 113 ------------ ------------ ------------ -------------- Total Assets................................................ 91,584 3,658,658 4,044,295 19,282,277 ------------ ------------ ------------ -------------- LIABILITIES: Payables: Upon Return of Securities Loaned.............................. -- -- -- -- Investment Securities/Affiliated Investment Companies Purchased.................................................... 130 -- -- -- Fund Shares Redeemed.......................................... -- 1,462 678 6,126 Due to Advisor................................................ 9 1,222 1,520 6,454 Futures Margin Variation...................................... 19 -- -- -- Unrealized Loss on Forward Currency Contracts................... 62 -- -- -- Unrealized Loss on Foreign Currency Contracts................... -- -- -- -- Accrued Expenses and Other Liabilities.......................... 16 234 234 790 ------------ ------------ ------------ -------------- Total Liabilities........................................... 236 2,918 2,432 13,370 ------------ ------------ ------------ -------------- NET ASSETS...................................................... $ 91,348 $ 3,655,740 $ 4,041,863 $ 19,268,907 ============ ============ ============ ============== NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE: Class R2 Shares -- based on net assets of $0; $0; $0; $106,070 and $0 and shares outstanding of 0; 0; 0; 3,624,435 and 0, respectively................................................... N/A N/A N/A $ 29.27 ============ ============ ============ ============== Institutional Class Shares -- based on net assets of $91,348; $3,655,740; $4,041,863; $19,162,837 and $13,020,962 and shares outstanding of 6,704,078; 135,555,592; 191,570,612; 654,558,013 and 648,059,947, respectively...................... $ 13.63 $ 26.97 $ 21.10 $ 29.28 ============ ============ ============ ============== NUMBER OF SHARES AUTHORIZED..................................... 100,000,000 500,000,000 500,000,000 1,500,000,000 ============ ============ ============ ============== Investments in Affiliated Investment Companies at Cost.......... $ 72,257 $ 2,522,235 $ 3,582,521 $ 18,840,667 ============ ============ ============ ============== Investments at Cost............................................. $ -- $ -- $ -- $ -- ============ ============ ============ ============== Foreign Currencies at Cost...................................... $ -- $ -- $ -- $ -- ============ ============ ============ ============== NET ASSETS CONSIST OF: Paid-In Capital................................................. $ 74,110 $ 2,497,624 $ 3,528,355 $ 18,578,622 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)......................................... 1,390 6,855 8,340 14,817 Accumulated Net Realized Gain (Loss)............................ 316 19,648 50,600 259,622 Net Unrealized Foreign Exchange Gain (Loss)..................... 28 (39) (91) 88 Net Unrealized Appreciation (Depreciation)...................... 15,504 1,131,652 454,659 415,758 ------------ ------------ ------------ -------------- NET ASSETS...................................................... $ 91,348 $ 3,655,740 $ 4,041,863 $ 19,268,907 ============ ============ ============ ============== EMERGING MARKETS CORE EQUITY PORTFOLIO* -------------- ASSETS: Investments in Affiliated Investment Companies at Value......... -- Investments at Value (including $0, $0, $0, $0 and $1,608,604 of securities on loan, respectively)........................... $ 12,892,198 Temporary Cash.................................................. -- Collateral Received from Securities on Loan at Value & Cost..... 10,967 Collateral from Securities on Loan Invested in Affiliate at Value & Cost................................................... 1,372,000 Segregated Cash for Futures Contracts........................... -- Foreign Currencies at Value..................................... 17,201 Cash............................................................ 136,988 Receivables: Investment Securities/Affiliated Investment Companies Sold......................................................... 315 Dividends, Interest and Tax Reclaims.......................... 13,712 Securities Lending Income..................................... 2,510 Fund Shares Sold.............................................. 14,939 Unrealized Gain on Forward Currency Contracts................... -- Unrealized Gain on Foreign Currency Contracts................... 1 Prepaid Expenses and Other Assets............................... 118 -------------- Total Assets................................................ 14,460,949 -------------- LIABILITIES: Payables: Upon Return of Securities Loaned.............................. 1,382,967 Investment Securities/Affiliated Investment Companies Purchased.................................................... 46,763 Fund Shares Redeemed.......................................... 2,574 Due to Advisor................................................ 5,969 Futures Margin Variation...................................... -- Unrealized Loss on Forward Currency Contracts................... -- Unrealized Loss on Foreign Currency Contracts................... 84 Accrued Expenses and Other Liabilities.......................... 1,630 -------------- Total Liabilities........................................... 1,439,987 -------------- NET ASSETS...................................................... $ 13,020,962 ============== NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE: Class R2 Shares -- based on net assets of $0; $0; $0; $106,070 and $0 and shares outstanding of 0; 0; 0; 3,624,435 and 0, respectively................................................... N/A ============== Institutional Class Shares -- based on net assets of $91,348; $3,655,740; $4,041,863; $19,162,837 and $13,020,962 and shares outstanding of 6,704,078; 135,555,592; 191,570,612; 654,558,013 and 648,059,947, respectively...................... $ 20.09 ============== NUMBER OF SHARES AUTHORIZED..................................... 1,000,000,000 ============== Investments in Affiliated Investment Companies at Cost.......... $ -- ============== Investments at Cost............................................. $ 11,668,794 ============== Foreign Currencies at Cost...................................... $ 17,301 ============== NET ASSETS CONSIST OF: Paid-In Capital................................................. $ 11,819,210 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)......................................... 31,355 Accumulated Net Realized Gain (Loss)............................ (52,859) Net Unrealized Foreign Exchange Gain (Loss)..................... (48) Net Unrealized Appreciation (Depreciation)...................... 1,223,304 -------------- NET ASSETS...................................................... $ 13,020,962 ============== ---------- * See Note J in the Notes to Financial Statements for additional securities lending collateral. See accompanying Notes to Financial Statements. 111 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS) ENHANCED U.S. LARGE U.S. LARGE U.S. LARGE U.S. TARGETED COMPANY CAP EQUITY CAP VALUE VALUE PORTFOLIO PORTFOLIO(A) PORTFOLIO* PORTFOLIO ---------- ------------ ---------- ------------- INVESTMENT INCOME Net Investment Income Allocated from Affiliated Investment Company: Dividends.................................................................... -- -- $ 209,457 -- Interest..................................................................... -- -- 42 -- Income from Securities Lending............................................... -- -- 1,778 -- Expenses Allocated from Affiliated Investment Company........................ -- -- (11,525) -- ------- ------- ---------- ---------- Total Net Investment Income Received from Affiliated Investment Company.... -- -- 199,752 -- ------- ------- ---------- ---------- FUND INVESTMENT INCOME Dividends (Net of Foreign Taxes Withheld of $0, $0, $0 and $7, respectively). $ 149 $ 648 -- $ 56,850 Interest..................................................................... 1,614 1 -- 33 Income from Securities Lending............................................... -- 12 -- 2,392 ------- ------- ---------- ---------- Total Investment Income.................................................... 1,763 661 -- 59,275 ------- ------- ---------- ---------- FUND EXPENSES Investment Advisory Services Fees............................................ 101 56 -- 3,667 Administrative Services Fees................................................. 303 -- 15,211 9,173 Accounting & Transfer Agent Fees............................................. 27 1 95 284 S&P 500(R) Fees.............................................................. 9 -- -- -- Shareholder Servicing Fees -- Class R1 Shares............................................................. -- -- -- 41 Class R2 Shares............................................................. -- -- -- 43 Custodian Fees............................................................... 10 3 -- 56 Filing Fees.................................................................. 25 16 173 107 Shareholders' Reports........................................................ 5 1 220 105 Directors'/Trustees' Fees & Expenses......................................... 2 -- 104 38 Professional Fees............................................................ 6 2 36 104 Organizational & Offering Costs.............................................. -- 15 -- -- Other........................................................................ 5 -- 133 68 ------- ------- ---------- ---------- Total Expenses............................................................. 493 94 15,972 13,686 ------- ------- ---------- ---------- Fees (Waived), Expenses Reimbursed, and/or Previously Waived Fees Recovered by Advisor (Note C)......................................................... -- (24) -- -- Fees Paid Indirectly......................................................... (4) -- -- -- ------- ------- ---------- ---------- Net Expenses................................................................. 489 70 15,972 13,686 ------- ------- ---------- ---------- NET INVESTMENT INCOME (LOSS)................................................. 1,274 591 183,780 45,589 ------- ------- ---------- ---------- REALIZED AND UNREALIZED GAIN (LOSS) Net Realized Gain (Loss) on: Investment Securities Sold.................................................. (238) 37 819,592 274,964 Futures..................................................................... 40,444 -- -- 4,864 Foreign Currency Transactions............................................... (934) -- -- -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.................................. 1,803 10,560 2,030,120 903,746 Futures..................................................................... 5,088 -- -- -- Translation of Foreign Currency Denominated Amounts......................... 946 -- -- -- ------- ------- ---------- ---------- NET REALIZED AND UNREALIZED GAIN (LOSS)...................................... 47,109 10,597 2,849,712 1,183,574 ------- ------- ---------- ---------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS................ $48,383 $11,188 $3,033,492 $1,229,163 ======= ======= ========== ========== ---------- * Investment Income and Realized and Unrealized Gain (Loss) were allocated from the Portfolio's Master Fund (Affiliated Investment Company). (a)The Portfolio commenced operations on June 25, 2013. See accompanying Notes to Financial Statements. 112 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS) U.S. SMALL U.S. CORE U.S. CORE U.S. VECTOR CAP VALUE EQUITY 1 EQUITY 2 EQUITY PORTFOLIO PORTFOLIO PORTFOLIO PORTFOLIO ---------- ---------- ---------- ----------- INVESTMENT INCOME Dividends (Net of Foreign Taxes Withheld of $14, $118, $71 and $18, respectively)............................................. $ 142,119 $ 117,896 $ 159,821 $ 42,692 Interest........................................................ 57 53 50 17 Income from Securities Lending.................................. 4,865 3,281 5,088 2,129 ---------- ---------- ---------- -------- Total Investment Income...................................... 147,041 121,230 164,959 44,838 ---------- ---------- ---------- -------- EXPENSES Investment Advisory Services Fees............................... 16,390 10,454 16,869 7,397 Administrative Services Fees.................................... 24,594 -- -- -- Accounting & Transfer Agent Fees................................ 620 463 636 192 Custodian Fees.................................................. 106 91 102 39 Filing Fees..................................................... 123 215 183 67 Shareholders' Reports........................................... 162 83 125 59 Directors'/Trustees' Fees & Expenses............................ 85 63 87 25 Professional Fees............................................... 224 177 243 71 Other........................................................... 143 107 151 53 ---------- ---------- ---------- -------- Total Expenses............................................... 42,447 11,653 18,396 7,903 ---------- ---------- ---------- -------- NET INVESTMENT INCOME (LOSS).................................... 104,594 109,577 146,563 36,935 ---------- ---------- ---------- -------- REALIZED AND UNREALIZED GAIN (LOSS) Net Realized Gain (Loss) on: Investment Securities Sold.................................... 467,388 48,730 106,205 42,264 Futures....................................................... 4,175 -- -- (48) Change in Unrealized Appreciation (Depreciation) of: Investment Securities......................................... 2,087,253 1,549,261 2,176,008 684,534 ---------- ---------- ---------- -------- NET REALIZED AND UNREALIZED GAIN (LOSS)........................... 2,558,816 1,597,991 2,282,213 726,750 ---------- ---------- ---------- -------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS....................................................... $2,663,410 $1,707,568 $2,428,776 $763,685 ========== ========== ========== ======== See accompanying Notes to Financial Statements. 113 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS) DFA REAL ESTATE LARGE CAP U.S. SMALL U.S. MICRO SECURITIES INTERNATIONAL CAP PORTFOLIO CAP PORTFOLIO PORTFOLIO PORTFOLIO ------------- ------------- ---------- ------------- INVESTMENT INCOME Dividends (Net of Foreign Taxes Withheld of $33, $21, $0 and $5,868, respectively)......................................... $ 86,192 $ 60,045 $110,387 $ 71,899 Interest....................................................... 48 19 37 3 Income from Securities Lending................................. 11,185 7,558 650 3,593 ---------- ---------- -------- -------- Total Investment Income..................................... 97,425 67,622 111,074 75,495 ---------- ---------- -------- -------- EXPENSES Investment Advisory Services Fees.............................. 1,722 4,027 7,278 5,952 Administrative Services Fees................................... 18,376 16,113 -- -- Accounting & Transfer Agent Fees............................... 426 310 335 196 Custodian Fees................................................. 95 66 46 317 Filing Fees.................................................... 204 70 145 73 Shareholders' Reports.......................................... 120 88 142 92 Directors'/Trustees' Fees & Expenses........................... 58 42 45 25 Professional Fees.............................................. 150 111 133 78 Other.......................................................... 95 73 75 65 ---------- ---------- -------- -------- Total Expenses.............................................. 21,246 20,900 8,199 6,798 ---------- ---------- -------- -------- Fees (Waived), Expenses Reimbursed, and/or Previously Waived Fees Recovered by Advisor (Note C)............................ -- -- (521) -- Fees Paid Indirectly........................................... -- -- -- (9) ---------- ---------- -------- -------- Net Expenses................................................ 21,246 20,900 7,678 6,789 ---------- ---------- -------- -------- NET INVESTMENT INCOME (LOSS)..................................... 76,179 46,722 103,396 68,706 ---------- ---------- -------- -------- REALIZED AND UNREALIZED GAIN (LOSS) Capital Gain Distributions Received from Investment Securities. -- -- 15,455 -- Net Realized Gain (Loss) on: Investment Securities Sold................................... 252,589 227,715 15,023 (15,210) Futures...................................................... (331) (423) -- -- Foreign Currency Transactions*............................... 1 -- -- (394) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency................... 1,551,354 1,117,408 254,603 476,010 Translation of Foreign Currency Denominated Amounts.......... -- -- -- 154 ---------- ---------- -------- -------- NET REALIZED AND UNREALIZED GAIN (LOSS)........................ 1,803,613 1,344,700 285,081 460,560 ---------- ---------- -------- -------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS...................................................... $1,879,792 $1,391,422 $388,477 $529,266 ========== ========== ======== ======== ---------- * Net of foreign capital gain taxes withheld of $0, $0, $0 and $1, respectively. See accompanying Notes to Financial Statements. 114 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS) INTERNATIONAL JAPANESE ASIA PACIFIC INTERNATIONAL SMALL SMALL SMALL CORE EQUITY COMPANY COMPANY COMPANY PORTFOLIO PORTFOLIO * PORTFOLIO * PORTFOLIO * ------------- ------------- ----------- ------------ INVESTMENT INCOME Net Investment Income Allocated from Affiliated Investment Companies: Dividends (Net of Foreign Taxes Withheld of $0, $15,423, $653 and $371, respectively).............................. -- $ 200,898 $ 7,733 $12,023 Interest.................................................... -- 59 -- -- Income from Securities Lending.............................. -- 19,252 622 1,038 Expenses Allocated from Affiliated Investment Companies................................................. -- (9,826) (577) (391) ---------- ---------- -------- ------- Total Net Investment Income Received from Affiliated Investment Companies.................................. -- 210,383 7,778 12,670 ---------- ---------- -------- ------- FUND INVESTMENT INCOME Dividends (Net of Foreign Taxes Withheld of $18,128, $0, $0 and $0, respectively).................................. $ 233,217 -- -- -- Interest.................................................... 4 21 -- -- Income from Securities Lending.............................. 14,944 -- -- -- ---------- ---------- -------- ------- Total Investment Income................................. 248,165 21 -- -- ---------- ---------- -------- ------- FUND EXPENSES Investment Advisory Services Fees........................... 27,343 -- -- -- Administrative Services Fees................................ -- 29,296 1,621 1,087 Accounting & Transfer Agent Fees............................ 593 84 22 21 Custodian Fees.............................................. 1,233 1 -- -- Filing Fees................................................. 300 129 17 24 Shareholders' Reports....................................... 163 194 4 4 Directors'/Trustees' Fees & Expenses........................ 81 77 4 3 Professional Fees........................................... 272 40 4 3 Other....................................................... 181 102 5 3 ---------- ---------- -------- ------- Total Expenses.......................................... 30,166 29,923 1,677 1,145 ---------- ---------- -------- ------- Fees Paid Indirectly........................................ (31) -- -- -- ---------- ---------- -------- ------- Net Expenses................................................ 30,135 29,923 1,677 1,145 ---------- ---------- -------- ------- NET INVESTMENT INCOME (LOSS)................................ 218,030 180,481 6,101 11,525 ---------- ---------- -------- ------- REALIZED AND UNREALIZED GAIN (LOSS) Net Realized Gain (Loss) on: Investment Securities Sold................................ (10,392) 262,518 5,783 (255) Futures................................................... -- (29) -- -- Foreign Currency Transactions**........................... (2,185) (2,035) (468) 9 Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency................ 1,736,462 1,540,906 94,197 17,462 Futures................................................... -- 30 -- -- Translation of Foreign Currency Denominated Amounts................................................. 312 438 26 (1) ---------- ---------- -------- ------- NET REALIZED AND UNREALIZED GAIN (LOSS)..................... 1,724,197 1,801,828 99,538 17,215 ---------- ---------- -------- ------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS................................................. $1,942,227 $1,982,309 $105,639 $28,740 ========== ========== ======== ======= ---------- * Investment Income and Realized and Unrealized Gain (Loss) were allocated from the Portfolio's Master Fund (Affiliated Investment Company). **Net of foreign capital gain taxes withheld of $14, $27, $0 and $0, respectively. See accompanying Notes to Financial Statements. 115 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS) UNITED DFA KINGDOM CONTINENTAL INTERNATIONAL DFA GLOBAL SMALL SMALL REAL ESTATE REAL ESTATE COMPANY COMPANY SECURITIES SECURITIES PORTFOLIO* PORTFOLIO* PORTFOLIO PORTFOLIO ---------- ----------- ------------- ----------- INVESTMENT INCOME Net Investment Income Allocated from Affiliated Investment Company: Dividends (Net of Foreign Taxes Withheld of $2, $409, $0 and $0, respectively)......................................................... $ 1,124 $ 2,859 -- -- Income Distributions Received from Affiliated Investment Companies..... -- -- -- $ 85,254 Interest............................................................... -- 3 -- -- Income from Securities Lending......................................... 7 477 -- -- Expenses Allocated from Affiliated Investment Company.................. (41) (167) -- -- ------- ------- -------- -------- Total Net Investment Income Received from Affiliated Investment Company............................................................ 1,090 3,172 -- 85,254 ------- ------- -------- -------- FUND INVESTMENT INCOME Dividends (Net of Foreign Taxes Withheld of $0, $0, $8,213 and $0, respectively)......................................................... -- -- $ 77,512 -- Interest............................................................... -- -- -- 6 Income from Securities Lending......................................... -- -- 2,538 -- ------- ------- -------- -------- Total Fund Investment Income........................................ -- -- 80,050 6 ------- ------- -------- -------- FUND EXPENSES Investment Advisory Services Fees...................................... -- -- 6,295 4,409 Administrative Services Fees........................................... 134 490 -- -- Accounting & Transfer Agent Fees....................................... 16 20 152 40 Custodian Fees......................................................... -- -- 311 -- Filing Fees............................................................ 15 18 118 130 Shareholders' Reports.................................................. 1 3 71 50 Directors'/Trustees' Fees & Expenses................................... -- 1 19 17 Professional Fees...................................................... 2 2 67 14 Other.................................................................. 1 3 41 19 ------- ------- -------- -------- Total Expenses...................................................... 169 537 7,074 4,679 ------- ------- -------- -------- Fees (Waived), Expenses Reimbursed, and/or Previously Waived Fees Recovered by Advisor (Note C)......................................... (12) -- -- (3,761) Fees Paid Indirectly................................................... -- -- (18) -- ------- ------- -------- -------- Net Expenses........................................................... 157 537 7,056 918 ------- ------- -------- -------- NET INVESTMENT INCOME (LOSS)........................................... 933 2,635 72,994 84,342 ------- ------- -------- -------- REALIZED AND UNREALIZED GAIN (LOSS) Net Realized Gain (Loss) on: Investment Securities Sold........................................... 2,545 2,298 (19,009) (3,169) Futures.............................................................. -- 29 888 -- Foreign Currency Transactions**...................................... -- (3) (860) -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency........................... 7,107 41,299 105,321 60,459 Futures.............................................................. -- (29) -- -- Translation of Foreign Currency Denominated Amounts.................. -- 7 18 -- ------- ------- -------- -------- NET REALIZED AND UNREALIZED GAIN (LOSS)................................ 9,652 43,601 86,358 57,290 ------- ------- -------- -------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS.......... $10,585 $46,236 $159,352 $141,632 ======= ======= ======== ======== ---------- * Investment Income and Realized and Unrealized Gain (Loss) were allocated from the Portfolio's Master Fund (Affiliated Investment Company). **Net of foreign capital gain taxes withheld of $0, $1, $7 and $0, respectively. See accompanying Notes to Financial Statements. 116 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS) DFA INTERNATIONAL WORLD EX U.S. SMALL CAP INTERNATIONAL WORLD EX U.S. TARGETED VALUE VECTOR EQUITY VALUE VALUE PORTFOLIO PORTFOLIO PORTFOLIO* PORTFOLIO*(A) ------------- ------------- ------------- ------------- INVESTMENT INCOME Net Investment Income Allocated from Affiliated Investment Companies: Dividends (Net of Foreign Taxes Withheld of $0, $0, $226, $68 and $0, respectively).......................... -- -- $ 2,376 $ 409 Income Distributions Received from Affiliated Investment Companies................................................ -- -- 139 753 Income from Securities Lending............................ -- -- 125 32 Expenses Allocated from Affiliated Investment Companies................................................ -- -- (157) (27) ---------- -------- ------- ------- Total Net Investment Income Received from Affiliated Investment Companies....................... -- -- 2,483 1,167 ---------- -------- ------- ------- FUND INVESTMENT INCOME Dividends (Net of Foreign Taxes Withheld of $17,253, $1,602, $0, $0 and $0, respectively)..................... $ 251,726 $ 21,173 -- -- Interest.................................................. 36 -- -- -- Income from Securities Lending............................ 23,155 1,491 -- -- ---------- -------- ------- ------- Total Investment Income................................ 274,917 22,664 -- -- ---------- -------- ------- ------- FUND EXPENSES Investment Advisory Services Fees......................... 63,069 3,382 394 330 Accounting & Transfer Agent Fees.......................... 737 70 17 17 Custodian Fees............................................ 1,495 268 1 2 Filing Fees............................................... 143 66 12 17 Shareholders' Reports..................................... 223 15 1 1 Directors'/Trustees' Fees & Expenses...................... 102 7 1 -- Professional Fees......................................... 325 22 5 5 Organizational & Offering Costs........................... -- -- -- 53 Other..................................................... 254 23 2 3 ---------- -------- ------- ------- Total Expenses......................................... 66,348 3,853 433 428 ---------- -------- ------- ------- Fees (Waived), Expenses Reimbursed, and/or Previously Waived Fees Recovered by Advisor (Note C)................ -- -- (136) (270) Fees Paid Indirectly...................................... (23) (5) -- -- ---------- -------- ------- ------- Net Expenses.............................................. 66,325 3,848 297 158 ---------- -------- ------- ------- NET INVESTMENT INCOME (LOSS).............................. 208,592 18,816 2,186 1,009 ---------- -------- ------- ------- REALIZED AND UNREALIZED GAIN (LOSS) Capital Gain Distributions Received from Investment Securities............................................... -- -- 64 191 Net Realized Gain (Loss) on: Investment Securities Sold............................... 179,935 8,277 3,077 947 Futures.................................................. -- -- (12) 1 Foreign Currency Transactions**.......................... (2,311) (71) (14) (3) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency............... 2,722,774 172,846 13,382 11,646 Futures.................................................. -- -- (1) -- Translation of Foreign Currency Denominated Amounts................................................. 666 46 (15) -- ---------- -------- ------- ------- NET REALIZED AND UNREALIZED GAIN (LOSS)................... 2,901,064 181,098 16,481 12,782 ---------- -------- ------- ------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS................................................. $3,109,656 $199,914 $18,667 $13,791 ========== ======== ======= ======= WORLD EX U.S. CORE EQUITY PORTFOLIO(B) ------------- INVESTMENT INCOME Net Investment Income Allocated from Affiliated Investment Companies: Dividends (Net of Foreign Taxes Withheld of $0, $0, $226, $68 and $0, respectively).......................... -- Income Distributions Received from Affiliated Investment Companies................................................ $ 1,175 Income from Securities Lending............................ -- Expenses Allocated from Affiliated Investment Companies................................................ -- ------- Total Net Investment Income Received from Affiliated Investment Companies....................... 1,175 ------- FUND INVESTMENT INCOME Dividends (Net of Foreign Taxes Withheld of $17,253, $1,602, $0, $0 and $0, respectively)..................... -- Interest.................................................. -- Income from Securities Lending............................ -- ------- Total Investment Income................................ -- ------- FUND EXPENSES Investment Advisory Services Fees......................... 149 Accounting & Transfer Agent Fees.......................... 9 Custodian Fees............................................ 1 Filing Fees............................................... 15 Shareholders' Reports..................................... -- Directors'/Trustees' Fees & Expenses...................... -- Professional Fees......................................... 5 Organizational & Offering Costs........................... 21 Other..................................................... 1 ------- Total Expenses......................................... 201 ------- Fees (Waived), Expenses Reimbursed, and/or Previously Waived Fees Recovered by Advisor (Note C)................ (186) Fees Paid Indirectly...................................... -- ------- Net Expenses.............................................. 15 ------- NET INVESTMENT INCOME (LOSS).............................. 1,160 ------- REALIZED AND UNREALIZED GAIN (LOSS) Capital Gain Distributions Received from Investment Securities............................................... -- Net Realized Gain (Loss) on: Investment Securities Sold............................... (30) Futures.................................................. -- Foreign Currency Transactions**.......................... -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency............... 11,720 Futures.................................................. -- Translation of Foreign Currency Denominated Amounts................................................. -- ------- NET REALIZED AND UNREALIZED GAIN (LOSS)................... 11,690 ------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS................................................. $12,850 ======= ---------- * Investment Income and a portion of Realized and Unrealized Gain (Loss) were allocated from the Portfolio's Master Funds (Affiliated Investment Companies). **Net of foreign capital gain taxes withheld of $6, $0, $0, $0 and $0, respectively. (a)The Portfolio commenced operations on November 1, 2012. (b)The Portfolio commenced operations on April 9, 2013. See accompanying Notes to Financial Statements. 117 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS) SELECTIVELY EMERGING EMERGING EMERGING HEDGED EMERGING MARKETS MARKETS MARKETS CORE GLOBAL EQUITY MARKETS SMALL CAP VALUE EQUITY PORTFOLIO PORTFOLIO* PORTFOLIO* PORTFOLIO* PORTFOLIO ------------- ---------- ---------- ---------- ------------ INVESTMENT INCOME Net Investment Income Allocated from Affiliated Investment Companies: Dividends (Net of Foreign Taxes Withheld of $0, $11,156, $9,714, $65,223 and $0, respectively).................................... -- $ 75,716 $ 80,545 $ 418,282 -- Income Distributions Received from Affiliated Investment Companies........................................................ $ 1,351 -- -- -- -- Interest.......................................................... -- 1 -- 15 -- Income from Securities Lending.................................... -- 3,790 16,568 25,373 -- Expenses Allocated from Affiliated Investment Company............. -- (4,877) (10,518) (27,921) -- ------- -------- -------- ---------- -------- Total Net Investment Income Received from Affiliated Investment Companies.......................................... 1,351 74,630 86,595 415,749 -- ------- -------- -------- ---------- -------- FUND INVESTMENT INCOME Dividends (Net of Foreign Taxes Withheld of $0, $0, $0, $0 and $34,892, respectively)........................................... -- -- -- -- $254,568 Interest.......................................................... 4 -- -- -- 5 Income from Securities Lending.................................... -- -- -- -- 24,569 ------- -------- -------- ---------- -------- Total Fund Investment Income................................... 4 -- -- -- 279,142 ------- -------- -------- ---------- -------- FUND EXPENSES Investment Advisory Services Fees................................. 206 -- -- -- 59,368 Administrative Services Fees...................................... -- 12,576 16,494 71,800 -- Accounting & Transfer Agent Fees.................................. 15 44 47 162 811 Shareholder Servicing Fees -- Class R2 Shares..................... -- -- -- 263 -- Custodian Fees.................................................... -- -- -- -- 5,473 Filing Fees....................................................... 24 154 198 378 644 Shareholders' Reports............................................. 1 118 63 251 231 Directors'/Trustees' Fees & Expenses.............................. 1 34 39 196 112 Professional Fees................................................. 5 14 17 68 449 Organizational & Offering Costs................................... 2 -- -- -- -- Other............................................................. 1 45 53 259 229 ------- -------- -------- ---------- -------- Total Expenses................................................. 255 12,985 16,911 73,377 67,317 ------- -------- -------- ---------- -------- Fees (Waived), Expenses Reimbursed, and/or Previously Waived Fees Recovered by Advisor (Note C)............................... (217) -- -- -- -- Fees Paid Indirectly.............................................. -- -- -- -- (167) ------- -------- -------- ---------- -------- Net Expenses...................................................... 38 12,985 16,911 73,377 67,150 ------- -------- -------- ---------- -------- NET INVESTMENT INCOME (LOSS)...................................... 1,317 61,645 69,684 342,372 211,992 ------- -------- -------- ---------- -------- REALIZED AND UNREALIZED GAIN (LOSS) Capital Gain Distributions Received from Affiliated Investment Companies........................................................ 115 -- -- -- -- Net Realized Gain (Loss) on: Investment Securities Sold....................................... (81) 22,235 64,325 296,735 (9,977) Futures.......................................................... 545 -- 452 -- -- Foreign Currency Transactions**.................................. 237 (124) (1,227) (2,807) (2,207) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency....................... 12,814 143,306 146,169 717,140 581,086 Futures.......................................................... 150 -- 4 -- -- Translation of Foreign Currency Denominated Amounts.............. 121 (6) (42) 7 (79) ------- -------- -------- ---------- -------- NET REALIZED AND UNREALIZED GAIN (LOSS)........................... 13,901 165,411 209,681 1,011,075 568,823 ------- -------- -------- ---------- -------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS......................................................... $15,218 $227,056 $279,365 $1,353,447 $780,815 ======= ======== ======== ========== ======== ---------- * Investment Income and Realized and Unrealized Gain (Loss) were allocated from the Portfolio's Master Fund (Affiliated Investment Company). **Net of foreign capital gain taxes withheld of $0, $0, $1, $0 and $0, respectively. See accompanying Notes to Financial Statements. 118 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (AMOUNTS IN THOUSANDS) ENHANCED U.S. LARGE U.S. LARGE CAP U.S. LARGE CAP VALUE COMPANY PORTFOLIO EQUITY PORTFOLIO PORTFOLIO ------------------ ---------------- ------------------------ PERIOD YEAR YEAR JUNE 25, YEAR YEAR ENDED ENDED 2013(A) TO ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2013 2013 2012 -------- -------- ---------- ----------- ----------- INCREASE (DECREASE) IN NET ASSETS Operations: Net Investment Income (Loss).......................... $ 1,274 $ 1,469 $ 591 $ 183,780 $ 154,843 Net Realized Gain (Loss) on: Investment Securities Sold.......................... (238) 245 37 819,592 318,427 Futures............................................. 40,444 30,568 -- -- -- Foreign Currency Transactions....................... (934) 1,331 -- -- -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.......... 1,803 594 10,560 2,030,120 824,744 Futures............................................. 5,088 (6,586) -- -- -- Translation of Foreign Currency Denominated Amounts............................................ 946 (857) -- -- -- -------- -------- -------- ----------- ----------- Net Increase (Decrease) in Net Assets Resulting from Operations......................... 48,383 26,764 11,188 3,033,492 1,298,014 -------- -------- -------- ----------- ----------- Distributions From: Net Investment Income: Institutional Class Shares............................ (1,597) (2,785) (321) (180,943) (150,153) -------- -------- -------- ----------- ----------- Total Distributions................................ (1,597) (2,785) (321) (180,943) (150,153) -------- -------- -------- ----------- ----------- Capital Share Transactions (1): Shares Issued......................................... 49,190 26,869 127,286 2,669,600 1,501,347 Shares Issued in Lieu of Cash Distributions........... 1,381 2,573 321 165,830 139,904 Shares Redeemed....................................... (74,528) (34,538) (3,067) (2,059,492) (1,794,871) -------- -------- -------- ----------- ----------- Net Increase (Decrease) from Capital Share Transactions...................................... (23,957) (5,096) 124,540 775,938 (153,620) -------- -------- -------- ----------- ----------- Total Increase (Decrease) in Net Assets............ 22,829 18,883 135,407 3,628,487 994,241 NET ASSETS Beginning of Period................................... 190,011 171,128 -- 8,334,585 7,340,344 -------- -------- -------- ----------- ----------- End of Period......................................... $212,840 $190,011 $135,407 $11,963,072 $ 8,334,585 ======== ======== ======== =========== =========== (1) SHARES ISSUED AND REDEEMED: Shares Issued......................................... 4,732 3,051 12,483 102,131 72,600 Shares Issued in Lieu of Cash Distributions........... 142 314 30 6,512 6,979 Shares Redeemed....................................... (7,146) (3,906) (286) (79,135) (86,993) -------- -------- -------- ----------- ----------- Net Increase (Decrease) from Shares Issued and Redeemed...................................... (2,272) (541) 12,227 29,508 (7,414) ======== ======== ======== =========== =========== UNDISTRIBUTED NET INVESTMENT INCOME (DISTRIBUTIONS IN EXCESS OF NET INVESTMENT INCOME)................................................ $ 200 $ 2,005 $ 281 $ 28,203 $ 25,366 ---------- Seepage 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 119 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (AMOUNTS IN THOUSANDS) U.S. TARGETED VALUE U.S. SMALL CAP VALUE PORTFOLIO PORTFOLIO ----------------------- ------------------------ YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2013 2012 ----------- ---------- ----------- ----------- INCREASE (DECREASE) IN NET ASSETS Operations: Net Investment Income (Loss).......................... $ 45,589 $ 29,117 $ 104,594 $ 53,970 Capital Gain Distributions Received from Investment Securities........................................... -- -- -- -- Net Realized Gain (Loss) on: Investment Securities Sold........................... 274,964 181,414 467,388 430,201 Futures.............................................. 4,864 3,336 4,175 954 Change in Unrealized Appreciation (Depreciation) of: Investment Securities................................ 903,746 176,832 2,087,253 522,870 Futures.............................................. -- -- -- (536) ----------- ---------- ----------- ----------- Net Increase (Decrease) in Net Assets Resulting from Operations......................... 1,229,163 390,699 2,663,410 1,007,459 ----------- ---------- ----------- ----------- Distributions From: Net Investment Income: Class R1 Shares...................................... (604) (374) -- -- Class R2 Shares...................................... (171) (76) -- -- Institutional Class Shares........................... (44,723) (24,124) (97,302) (50,536) Net Short-Term Gains: Class R1 Shares...................................... (162) -- -- -- Class R2 Shares...................................... (43) -- -- -- Institutional Class Shares........................... (9,669) -- (15,668) -- Net Long-Term Gains: Class R1 Shares...................................... (2,657) (356) -- -- Class R2 Shares...................................... (709) (86) -- -- Institutional Class Shares........................... (158,843) (19,426) (380,218) (89,379) ----------- ---------- ----------- ----------- Total Distributions................................ (217,581) (44,442) (493,188) (139,915) ----------- ---------- ----------- ----------- Capital Share Transactions (1): Shares Issued......................................... 1,069,213 782,957 1,700,691 1,130,039 Shares Issued in Lieu of Cash Distributions........... 193,793 40,767 448,519 131,338 Shares Redeemed....................................... (1,112,648) (662,151) (1,880,921) (1,581,314) ----------- ---------- ----------- ----------- Net Increase (Decrease) from Capital Share Transactions...................................... 150,358 161,573 268,289 (319,937) ----------- ---------- ----------- ----------- Total Increase (Decrease) in Net Assets............ 1,161,940 507,830 2,438,511 547,607 NET ASSETS Beginning of Year..................................... 3,051,809 2,543,979 7,088,470 6,540,863 ----------- ---------- ----------- ----------- End of Year........................................... $ 4,213,749 $3,051,809 $ 9,526,981 $ 7,088,470 =========== ========== =========== =========== (1) SHARES ISSUED AND REDEEMED: Shares Issued......................................... 54,473 48,542 56,681 45,152 Shares Issued in Lieu of Cash Distributions........... 11,549 2,677 17,521 5,754 Shares Redeemed....................................... (56,250) (40,606) (64,686) (62,499) ----------- ---------- ----------- ----------- Net Increase (Decrease) from Shares Issued and Redeemed...................................... 9,772 10,613 9,516 (11,593) =========== ========== =========== =========== UNDISTRIBUTED NET INVESTMENT INCOME (DISTRIBUTIONS IN EXCESS OF NET INVESTMENT INCOME)................................................ $ 484 $ 3,945 $ 1,373 $ 94 U.S. CORE EQUITY 1 PORTFOLIO ----------------------- YEAR YEAR ENDED ENDED OCT. 31, OCT. 31, 2013 2012 ----------- ---------- INCREASE (DECREASE) IN NET ASSETS Operations: Net Investment Income (Loss).......................... $ 109,577 $ 78,378 Capital Gain Distributions Received from Investment Securities........................................... -- 36 Net Realized Gain (Loss) on: Investment Securities Sold........................... 48,730 35,359 Futures.............................................. -- -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities................................ 1,549,261 455,880 Futures.............................................. -- -- ----------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations......................... 1,707,568 569,653 ----------- ---------- Distributions From: Net Investment Income: Class R1 Shares...................................... -- -- Class R2 Shares...................................... -- -- Institutional Class Shares........................... (105,633) (73,066) Net Short-Term Gains: Class R1 Shares...................................... -- -- Class R2 Shares...................................... -- -- Institutional Class Shares........................... -- -- Net Long-Term Gains: Class R1 Shares...................................... -- -- Class R2 Shares...................................... -- -- Institutional Class Shares........................... -- -- ----------- ---------- Total Distributions................................ (105,633) (73,066) ----------- ---------- Capital Share Transactions (1): Shares Issued......................................... 2,012,312 1,316,460 Shares Issued in Lieu of Cash Distributions........... 95,895 66,157 Shares Redeemed....................................... (1,020,936) (733,642) ----------- ---------- Net Increase (Decrease) from Capital Share Transactions...................................... 1,087,271 648,975 ----------- ---------- Total Increase (Decrease) in Net Assets............ 2,689,206 1,145,562 NET ASSETS Beginning of Year..................................... 4,876,973 3,731,411 ----------- ---------- End of Year........................................... $ 7,566,179 $4,876,973 =========== ========== (1) SHARES ISSUED AND REDEEMED: Shares Issued......................................... 144,586 114,530 Shares Issued in Lieu of Cash Distributions........... 7,046 5,842 Shares Redeemed....................................... (73,616) (63,857) ----------- ---------- Net Increase (Decrease) from Shares Issued and Redeemed...................................... 78,016 56,515 =========== ========== UNDISTRIBUTED NET INVESTMENT INCOME (DISTRIBUTIONS IN EXCESS OF NET INVESTMENT INCOME)................................................ $ 14,478 $ 10,461 See accompanying Notes to Financial Statements. 120 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (AMOUNTS IN THOUSANDS) U.S. CORE EQUITY 2 U.S. VECTOR EQUITY U.S. SMALL CAP PORTFOLIO PORTFOLIO PORTFOLIO ------------------------ ---------------------- ---------------------- YEAR YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2013 2012 2013 2012 ----------- ----------- ---------- ---------- ---------- ---------- INCREASE (DECREASE) IN NET ASSETS Operations: Net Investment Income (Loss)................. $ 146,563 $ 111,804 $ 36,935 $ 28,165 $ 76,179 $ 47,882 Capital Gain Distributions Received from Investment Securities....................... -- 105 -- 18 -- -- Net Realized Gain (Loss) on: Investment Securities Sold................. 106,205 73,466 42,264 41,027 252,589 254,365 Futures.................................... -- -- (48) (850) (331) -- Foreign Currency Transactions.............. -- -- -- -- 1 -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities...................... 2,176,008 694,545 684,534 196,524 1,551,354 230,453 ----------- ----------- ---------- ---------- ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations................ 2,428,776 879,920 763,685 264,884 1,879,792 532,700 ----------- ----------- ---------- ---------- ---------- ---------- Distributions From: Net Investment Income: Institutional Class Shares................ (143,640) (99,623) (34,959) (26,665) (74,990) (41,256) Net Short-Term Gains: Institutional Class Shares................ -- -- -- -- (8,279) -- Net Long-Term Gains: Instituional Class Shares................. (55,772) -- (3,507) -- (228,672) -- ----------- ----------- ---------- ---------- ---------- ---------- Total Distributions....................... (199,412) (99,623) (38,466) (26,665) (311,941) (41,256) ----------- ----------- ---------- ---------- ---------- ---------- Capital Share Transactions (1): Shares Issued................................ 1,993,887 1,284,909 590,251 363,121 2,025,365 1,000,664 Shares Issued in Lieu of Cash Distributions............................... 194,014 96,744 37,851 26,213 287,893 38,143 Shares Redeemed.............................. (1,351,685) (1,057,872) (468,656) (470,271) (997,627) (737,229) ----------- ----------- ---------- ---------- ---------- ---------- Net Increase (Decrease) from Capital Share Transactions....................... 836,216 323,781 159,446 (80,937) 1,315,631 301,578 ----------- ----------- ---------- ---------- ---------- ---------- Total Increase (Decrease) in Net Assets................................... 3,065,580 1,104,078 884,665 157,282 2,883,482 793,022 NET ASSETS Beginning of Year............................ 6,923,984 5,819,906 2,009,177 1,851,895 4,563,345 3,770,323 ----------- ----------- ---------- ---------- ---------- ---------- End of Year.................................. $ 9,989,564 $ 6,923,984 $2,893,842 $2,009,177 $7,446,827 $4,563,345 =========== =========== ========== ========== ========== ========== (1) SHARES ISSUED AND REDEEMED: Shares Issued................................ 145,060 113,356 43,824 33,038 76,522 45,541 Shares Issued in Lieu of Cash Distributions............................... 14,935 8,679 2,932 2,473 12,811 1,786 Shares Redeemed.............................. (98,040) (93,203) (34,484) (42,602) (38,832) (33,325) ----------- ----------- ---------- ---------- ---------- ---------- Net Increase (Decrease) from Shares Issued and Redeemed...................... 61,955 28,832 12,272 (7,091) 50,501 14,002 =========== =========== ========== ========== ========== ========== UNDISTRIBUTED NET INVESTMENT INCOME (DISTRIBUTIONS IN EXCESS OF NET INVESTMENT INCOME)............................ $ 14,563 $ 15,899 $ 3,099 $ 2,490 $ 3,169 $ 5,302 See accompanying Notes to Financial Statements. 121 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (AMOUNTS IN THOUSANDS) DFA REAL ESTATESECURITIES LARGE CAP INTERNATIONAL U.S. MICRO CAP PORTFOLIO PORTFOLIO PORTFOLIO ---------------------- ------------------------ ---------------------- YEAR YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2013 2012 2013 2012 ---------- ---------- ---------- ---------- ---------- ---------- INCREASE (DECREASE) IN NET ASSETS Operations: Net Investment Income (Loss)...................... $ 46,722 $ 33,720 $ 103,396 $ 78,788 $ 68,706 $ 63,623 Capital Gain Distributions Received from Investment Securities............................ -- -- 15,455 16,390 -- -- Net Realized Gain (Loss) on: Investment Securities Sold....................... 227,715 220,675 15,023 (1,763) (15,210) (18,104) Futures.......................................... (423) 385 -- (46) -- -- Foreign Currency Transactions*................... -- -- -- -- (394) (353) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency........................................ 1,117,408 166,031 254,603 355,961 476,010 69,627 Translation of Foreign Currency Denominated Amounts......................................... -- -- -- -- 154 (82) ---------- ---------- ---------- ---------- ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations..................... 1,391,422 420,811 388,477 449,330 529,266 114,711 ---------- ---------- ---------- ---------- ---------- ---------- Distributions From: Net Investment Income: Institutional Class Shares....................... (46,915) (30,423) (102,731) (99,783) (70,787) (60,808) Net Long-Term Gains: Institutional Class Shares....................... (176,365) -- -- -- -- -- ---------- ---------- ---------- ---------- ---------- ---------- Total Distributions............................ (223,280) (30,423) (102,731) (99,783) (70,787) (60,808) ---------- ---------- ---------- ---------- ---------- ---------- Capital Share Transactions (1): Shares Issued..................................... 605,885 389,014 1,428,666 826,214 631,372 634,549 Shares Issued in Lieu of Cash Distributions....... 207,612 28,484 99,760 96,714 66,684 57,573 Shares Redeemed................................... (723,766) (627,647) (853,143) (654,733) (457,180) (394,415) ---------- ---------- ---------- ---------- ---------- ---------- Net Increase (Decrease) from Capital Share Transactions.................................. 89,731 (210,149) 675,283 268,195 240,876 297,707 ---------- ---------- ---------- ---------- ---------- ---------- Total Increase (Decrease) in Net Assets........ 1,257,873 180,239 961,029 617,742 699,355 351,610 NET ASSETS Beginning of Year................................. 3,437,958 3,257,719 3,716,389 3,098,647 2,055,759 1,704,149 ---------- ---------- ---------- ---------- ---------- ---------- End of Year....................................... $4,695,831 $3,437,958 $4,677,418 $3,716,389 $2,755,114 $2,055,759 ========== ========== ========== ========== ========== ========== (1) SHARES ISSUED AND REDEEMED: Shares Issued..................................... 36,865 27,509 51,717 32,929 31,421 36,185 Shares Issued in Lieu of Cash Distributions....... 14,570 2,109 3,726 3,972 3,350 3,432 Shares Redeemed................................... (43,945) (44,113) (30,873) (26,322) (22,837) (22,604) ---------- ---------- ---------- ---------- ---------- ---------- Net Increase (Decrease) from Shares Issued and Redeemed........................... 7,490 (14,495) 24,570 10,579 11,934 17,013 ========== ========== ========== ========== ========== ========== UNDISTRIBUTED NET INVESTMENT INCOME (DISTRIBUTIONS IN EXCESS OF NET INVESTMENT INCOME)............................................ $ 1,665 $ 3,910 $ 31,615 $ 23,599 $ 6,579 $ 8,708 ---------- * Net of foreign capital gain taxes withheld of $0, $0, $0, $0, $1 and $1, respectively. See accompanying Notes to Financial Statements. 122 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (AMOUNTS IN THOUSANDS) INTERNATIONAL CORE EQUITY INTERNATIONAL SMALL JAPANESE SMALL PORTFOLIO COMPANY PORTFOLIO COMPANY PORTFOLIO ------------------------ ------------------------ ------------------- YEAR YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2013 2012 2013 2012 ----------- ----------- ----------- ----------- --------- -------- INCREASE (DECREASE) IN NET ASSETS Operations: Net Investment Income (Loss)...................... $ 218,030 $ 181,573 $ 180,481 $ 152,324 $ 6,101 $ 5,072 Net Realized Gain (Loss) on: Investment Securities Sold....................... (10,392) (40,937) 262,518 53,955 5,783 (5,341) Futures.......................................... -- -- (29) 9 -- (75) Foreign Currency Transactions**.................. (2,185) 114 (2,035) 401 (468) 120 Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency........................................ 1,736,462 185,568 1,540,906 133,610 94,197 (6,790) Futures.......................................... -- -- 30 (1) -- 1 Translation of Foreign Currency Denominated Amounts......................................... 312 (120) 438 (530) 26 (23) ----------- ----------- ----------- ----------- --------- -------- Net Increase (Decrease) in Net Assets Resulting from Operations..................... 1,942,227 326,198 1,982,309 339,768 105,639 (7,036) ----------- ----------- ----------- ----------- --------- -------- Distributions From: Net Investment Income: Institutional Class Shares....................... (214,687) (176,198) (159,066) (163,885) (2,836) (4,541) Net Long-Term Gains: Institutional Class Shares....................... -- -- (39,012) (108,621) -- -- ----------- ----------- ----------- ----------- --------- -------- Total Distributions............................ (214,687) (176,198) (198,078) (272,506) (2,836) (4,541) ----------- ----------- ----------- ----------- --------- -------- Capital Share Transactions (1): Shares Issued..................................... 2,415,089 1,839,473 1,229,487 1,391,405 142,226 198,642 Shares Issued in Lieu of Cash Distributions....... 206,673 169,856 188,769 262,078 2,638 4,202 Shares Redeemed................................... (1,323,574) (1,072,475) (1,104,930) (1,131,600) (127,503) (60,419) ----------- ----------- ----------- ----------- --------- -------- Net Increase (Decrease) from Capital Share Transactions.................................. 1,298,188 936,854 313,326 521,883 17,361 142,425 ----------- ----------- ----------- ----------- --------- -------- Total Increase (Decrease) in Net Assets........ 3,025,728 1,086,854 2,097,557 589,145 120,164 130,848 NET ASSETS Beginning of Year................................. 6,482,738 5,395,884 6,423,160 5,834,015 293,968 163,120 ----------- ----------- ----------- ----------- --------- -------- End of Year....................................... $ 9,508,466 $ 6,482,738 $ 8,520,717 $ 6,423,160 $ 414,132 $293,968 =========== =========== =========== =========== ========= ======== (1) SHARES ISSUED AND REDEEMED: Shares Issued..................................... 213,883 190,598 72,452 95,525 8,814 12,557 Shares Issued in Lieu of Cash Distributions....... 18,646 18,393 11,691 19,065 173 282 Shares Redeemed................................... (117,963) (112,419) (65,368) (77,790) (7,179) (3,928) ----------- ----------- ----------- ----------- --------- -------- Net Increase (Decrease) from Shares Issued and Redeemed........................... 114,566 96,572 18,775 36,800 1,808 8,911 =========== =========== =========== =========== ========= ======== UNDISTRIBUTED NET INVESTMENT INCOME (DISTRIBUTIONS IN EXCESS OF NET INVESTMENT INCOME)............................................ $ 27,329 $ 25,255 $ 27,396 $ 3,290 $ 6,178 $ 1,728 ---------- **Net of foreign capital gain taxes withheld of $14, $0, $27, $4, $0 and $0, respectively. See accompanying Notes to Financial Statements. 123 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (AMOUNTS IN THOUSANDS) ASIA PACIFIC SMALL UNITED KINGDOM SMALL CONTINENTAL SMALL COMPANY PORTFOLIO COMPANY PORTFOLIO COMPANY PORTFOLIO ------------------ ------------------- ------------------ YEAR YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2013 2012 2013 2012 -------- -------- -------- -------- -------- -------- INCREASE (DECREASE) IN NET ASSETS Operations: Net Investment Income (Loss).......................... $ 11,525 $ 7,452 $ 933 $ 856 $ 2,635 $ 3,068 Net Realized Gain (Loss) on: Investment Securities Sold.......................... (255) 4,091 2,545 (281) 2,298 (2,677) Futures............................................. -- (33) -- 6 29 (25) Foreign Currency Transactions*...................... 9 (56) -- 6 (3) (25) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.......... 17,462 6,664 7,107 5,744 41,299 585 Futures............................................. -- 1 -- -- (29) -- Translation of Foreign Currency Denominated Amounts................................ (1) (12) -- (2) 7 72 -------- -------- ------- -------- -------- -------- Net Increase (Decrease) in Net Assets Resulting from Operations......................... 28,740 18,107 10,585 6,329 46,236 998 -------- -------- ------- -------- -------- -------- Distributions From: Net Investment Income: Institutional Class Shares............................ (7,603) (9,333) (953) (992) (2,834) (2,958) -------- -------- ------- -------- -------- -------- Total Distributions................................ (7,603) (9,333) (953) (992) (2,834) (2,958) -------- -------- ------- -------- -------- -------- Capital Share Transactions (1): Shares Issued......................................... 96,294 110,755 2,464 1,858 32,191 11,823 Shares Issued in Lieu of Cash Distributions........... 7,183 8,531 729 752 2,141 2,148 Shares Redeemed....................................... (31,639) (29,131) (7,045) (10,500) (13,244) (23,147) -------- -------- ------- -------- -------- -------- Net Increase (Decrease) from Capital Share Transactions...................................... 71,838 90,155 (3,852) (7,890) 21,088 (9,176) -------- -------- ------- -------- -------- -------- Total Increase (Decrease) in Net Assets............ 92,975 98,929 5,780 (2,553) 64,490 (11,136) NET ASSETS Beginning of Year..................................... 238,191 139,262 31,316 33,869 106,316 117,452 -------- -------- ------- -------- -------- -------- End of Year........................................... $331,166 $238,191 $37,096 $ 31,316 $170,806 $106,316 ======== ======== ======= ======== ======== ======== (1) SHARES ISSUED AND REDEEMED: Shares Issued......................................... 4,135 5,147 78 76 1,806 842 Shares Issued in Lieu of Cash Distributions........... 309 410 24 34 128 166 Shares Redeemed....................................... (1,362) (1,342) (224) (429) (834) (1,693) -------- -------- ------- -------- -------- -------- Net Increase (Decrease) from Shares Issued and Redeemed...................................... 3,082 4,215 (122) (319) 1,100 (685) ======== ======== ======= ======== ======== ======== UNDISTRIBUTED NET INVESTMENT INCOME (DISTRIBUTIONS IN EXCESS OF NET INVESTMENT INCOME)................................................ $ 6,418 $ 779 $ 129 $ 149 $ 92 $ 280 ---------- * Net of foreign capital gain taxes withheld of $0, $0, $0, $0, $1 and $0, respectively. See accompanying Notes to Financial Statements. 124 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (AMOUNTS IN THOUSANDS) DFA INTERNATIONAL REAL ESTATE SECURITIES DFA GLOBAL REAL ESTATE DFA INTERNATIONAL SMALL PORTFOLIO SECURITIES PORTFOLIO CAP VALUE PORTFOLIO ---------------------- ---------------------- ------------------------ YEAR YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2013 2012 2013 2012 ---------- ---------- ---------- ---------- ----------- ----------- INCREASE (DECREASE) IN NET ASSETS Operations: Net Investment Income (Loss).................. $ 72,994 $ 66,041 $ 84,342 $ 36,495 $ 208,592 $ 176,655 Net Realized Gain (Loss) on: Investment Securities Sold................... (19,009) (33,417) (3,169) (2,760) 179,935 130,909 Futures...................................... 888 -- -- -- -- -- Foreign Currency Transactions*............... (860) 34 -- 138,125 (2,311) 1,183 Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.................................... 105,321 228,123 60,459 -- 2,722,774 203,828 Translation of Foreign Currency Denominated Amounts...................................... 18 (24) -- -- 666 (393) ---------- ---------- ---------- ---------- ----------- ----------- Net Increase (Decrease) in Net Assets Resulting from Operations................. 159,352 260,757 141,632 171,860 3,109,656 512,182 ---------- ---------- ---------- ---------- ----------- ----------- Distributions From: Net Investment Income: Institutional Class Shares................... (181,848) (54,030) (84,341) (25,716) (198,381) (187,200) Net Short-Term Gains: Institutional Class Shares................... -- -- -- -- -- (11,429) Net Long-Term Gains: Institutional Class Shares................... -- -- -- -- (117,102) (126,221) ---------- ---------- ---------- ---------- ----------- ----------- Total Distributions........................ (181,848) (54,030) (84,341) (25,716) (315,483) (324,850) ---------- ---------- ---------- ---------- ----------- ----------- Capital Share Transactions (1): Shares Issued................................. 842,458 416,378 932,289 445,794 1,644,691 1,698,080 Shares Issued in Lieu of Cash Distributions... 180,122 53,300 82,056 25,115 292,218 304,574 Shares Redeemed............................... (372,815) (204,853) (304,476) (170,854) (1,848,793) (1,382,520) ---------- ---------- ---------- ---------- ----------- ----------- Net Increase (Decrease) from Capital Share Transactions........................ 649,765 264,825 709,869 300,055 88,116 620,134 ---------- ---------- ---------- ---------- ----------- ----------- Total Increase (Decrease) in Net Assets.... 627,269 471,552 767,160 446,199 2,882,289 807,466 NET ASSETS Beginning of Year............................. 1,531,708 1,060,156 1,315,547 869,348 8,266,610 7,459,144 ---------- ---------- ---------- ---------- ----------- ----------- End of Year................................... $2,158,977 $1,531,708 $2,082,707 $1,315,547 $11,148,899 $ 8,266,610 ========== ========== ========== ========== =========== =========== (1) SHARES ISSUED AND REDEEMED: Shares Issued................................. 159,658 84,674 99,632 51,866 96,297 117,598 Shares Issued in Lieu of Cash Distributions... 35,387 12,309 9,335 3,385 18,141 22,510 Shares Redeemed............................... (71,419) (42,864) (32,860) (20,069) (106,982) (97,364) ---------- ---------- ---------- ---------- ----------- ----------- Net Increase (Decrease) from Shares Issued and Redeemed....................... 123,626 54,119 76,107 35,182 7,456 42,744 ========== ========== ========== ========== =========== =========== UNDISTRIBUTED NET INVESTMENT INCOME (DISTRIBUTIONS IN EXCESS OF NET INVESTMENT INCOME)............................. $ (147,973) $ (46,274) $ 11,624 $ 11,623 $ 14,704 $ 14,647 ---------- * Net of foreign capital gain taxes withheld of $7, $0, $0, $0, $6 and $13, respectively. See accompanying Notes to Financial Statements. 125 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (AMOUNTS IN THOUSANDS) WORLD EX U.S. INTERNATIONAL VECTOR WORLD EX U.S. VALUE TARGETED VALUE EQUITY PORTFOLIO PORTFOLIO PORTFOLIO --------------------- ----------------- -------------- PERIOD YEAR YEAR YEAR YEAR NOV. 1, ENDED ENDED ENDED ENDED 2012(A) TO OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2013 2012 2013 ---------- --------- -------- -------- -------------- INCREASE (DECREASE) IN NET ASSETS Operations: Net Investment Income (Loss).................................... $ 18,816 $ 14,617 $ 2,186 $ 1,596 $ 1,009 Capital Gain Distributions Received from Affiliated Investment Companies...................................................... -- -- 64 79 191 Net Realized Gain (Loss) on: Investment Securities Sold..................................... 8,277 2,944 3,077 61 947 Futures........................................................ -- -- (12) (1) 1 Foreign Currency Transactions*................................. (71) (98) (14) (10) (3) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency..................... 172,846 13,867 13,382 430 11,646 Futures........................................................ -- -- (1) -- -- Translation of Foreign Currency Denominated Amounts............ 46 (30) (15) (1) -- ---------- --------- -------- ------- ------- Net Increase (Decrease) in Net Assets Resulting from Operations.................................................. 199,914 31,300 18,667 2,154 13,791 ---------- --------- -------- ------- ------- Distributions From: Net Investment Income: Institutional Class Shares..................................... (17,456) (14,204) (2,334) (1,432) (993) Net Short-Term Gains: Institutional Class Shares..................................... -- -- -- (6) -- Net Long-Term Gains: Institutional Class Shares..................................... (2,044) (6,473) -- -- -- ---------- --------- -------- ------- ------- Total Distributions.......................................... (19,500) (20,677) (2,334) (1,438) (993) ---------- --------- -------- ------- ------- Capital Share Transactions (1): Shares Issued................................................... 419,905 241,502 53,066 15,365 87,917 Shares Issued in Lieu of Cash Distributions..................... 18,898 19,813 2,232 1,370 993 Shares Redeemed................................................. (89,842) (121,119) (11,241) (7,419) (5,698) ---------- --------- -------- ------- ------- Net Increase (Decrease) from Capital Share Transactions...... 348,961 140,196 44,057 9,316 83,212 ---------- --------- -------- ------- ------- Total Increase (Decrease) in Net Assets...................... 529,375 150,819 60,390 10,032 96,010 NET ASSETS Beginning of Period............................................. 561,399 410,580 57,197 47,165 -- ---------- --------- -------- ------- ------- End of Period................................................... $1,090,774 $ 561,399 $117,587 $57,197 $96,010 ========== ========= ======== ======= ======= (1) SHARES ISSUED AND REDEEMED: Shares Issued................................................... 39,490 27,490 4,923 1,625 8,136 Shares Issued in Lieu of Cash Distributions..................... 1,856 2,341 209 152 90 Shares Redeemed................................................. (8,665) (13,627) (1,036) (756) (522) ---------- --------- -------- ------- ------- Net Increase (Decrease) from Shares Issued and Redeemed...... 32,681 16,204 4,096 1,021 7,704 ========== ========= ======== ======= ======= UNDISTRIBUTED NET INVESTMENT INCOME (DISTRIBUTIONS IN EXCESS OF NET INVESTMENT INCOME)........................................... $ 2,486 $ 1,456 $ 187 $ 330 $ 15 ---------- Seepage 1 for the Definitions of Abbreviations and Footnotes. * Net of foreign capital gain taxes withheld of $0, $1, $0, $0, $0 and $0, respectively. See accompanying Notes to Financial Statements. 126 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (AMOUNTS IN THOUSANDS) WORLD EX U.S. CORE EQUITY SELECTIVELY HEDGED PORTFOLIO GLOBAL EQUITY PORTFOLIO ------------------ ---------------------- PERIOD PERIOD APRIL 9, APRIL 9, PERIOD 2013(A) 2013(A) YEAR NOV. 14, TO TO ENDED 2011(A) TO OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2013 2012 -------- -------- -------- ---------- INCREASE (DECREASE) IN NET ASSETS Operations: Net Investment Income (Loss).................................... $ 1,160 $ -- $ 1,317 $ 536 Capital Gain Distributions Received from Affiliated Investment Companies...................................................... -- -- 115 -- Net Realized Gain (Loss) on: Investment Securities Sold..................................... (30) -- (81) (275) Futures........................................................ -- -- 545 110 Foreign Currency Transactions*................................. -- -- 237 163 Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency..................... 11,720 -- 12,814 2,557 Futures........................................................ -- -- 150 (17) Translation of Foreign Currency Denominated Amounts............ -- -- 121 (93) -------- ---- ------- ------- Net Increase (Decrease) in Net Assets Resulting from Operations................................................... 12,850 -- 15,218 2,981 -------- ---- ------- ------- Distributions From: Net Investment Income: Institutional Class Shares..................................... (1,171) -- (330) (534) Net Short-Term Gains: Institutional Class Shares..................................... -- -- (43) -- Net Long-Term Gains: Institutional Class Shares..................................... -- -- (56) -- -------- ---- ------- ------- Total Distributions........................................... (1,171) -- (429) (534) -------- ---- ------- ------- Capital Share Transactions (1): Shares Issued................................................... 125,005 -- 43,832 32,522 Shares Issued in Lieu of Cash Distributions..................... 1,169 -- 429 533 Shares Redeemed................................................. (8,133) -- (2,652) (552) -------- ---- ------- ------- Net Increase (Decrease) from Capital Share Transactions....... 118,041 -- 41,609 32,503 -------- ---- ------- ------- Total Increase (Decrease) in Net Assets....................... 129,720 -- 56,398 34,950 NET ASSETS Beginning of Period............................................. -- -- 34,950 -- -------- ---- ------- ------- End of Period................................................... $129,720 $ -- $91,348 $34,950 ======== ==== ======= ======= (1) SHARES ISSUED AND REDEEMED: Shares Issued................................................... 12,721 -- 3,666 3,216 Shares Issued in Lieu of Cash Distributions..................... 117 -- 39 53 Shares Redeemed................................................. (790) -- (217) (53) -------- ---- ------- ------- Net Increase (Decrease) from Shares Issued and Redeemed..................................................... 12,048 -- 3,488 3,216 ======== ==== ======= ======= UNDISTRIBUTED NET INVESTMENT INCOME (DISTRIBUTIONS IN EXCESS OF NET INVESTMENT INCOME)........................................ $ (1) $ -- $ 1,390 $ 166 EMERGING MARKETS PORTFOLIO ---------------------- YEAR YEAR ENDED ENDED OCT. 31, OCT. 31, 2013 2012 ---------- ---------- INCREASE (DECREASE) IN NET ASSETS Operations: Net Investment Income (Loss).................................... $ 61,645 $ 54,306 Capital Gain Distributions Received from Affiliated Investment Companies...................................................... -- -- Net Realized Gain (Loss) on: Investment Securities Sold..................................... 22,235 31,303 Futures........................................................ -- -- Foreign Currency Transactions*................................. (124) (543) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency..................... 143,306 25,377 Futures........................................................ -- -- Translation of Foreign Currency Denominated Amounts............ (6) 18 ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations................................................... 227,056 110,461 ---------- ---------- Distributions From: Net Investment Income: Institutional Class Shares..................................... (59,866) (49,445) Net Short-Term Gains: Institutional Class Shares..................................... -- -- Net Long-Term Gains: Institutional Class Shares..................................... (30,527) (90,351) ---------- ---------- Total Distributions........................................... (90,393) (139,796) ---------- ---------- Capital Share Transactions (1): Shares Issued................................................... 1,304,374 860,651 Shares Issued in Lieu of Cash Distributions..................... 84,860 130,084 Shares Redeemed................................................. (667,334) (477,258) ---------- ---------- Net Increase (Decrease) from Capital Share Transactions....... 721,900 513,477 ---------- ---------- Total Increase (Decrease) in Net Assets....................... 858,563 484,142 NET ASSETS Beginning of Period............................................. 2,797,177 2,313,035 ---------- ---------- End of Period................................................... $3,655,740 $2,797,177 ========== ========== (1) SHARES ISSUED AND REDEEMED: Shares Issued................................................... 50,466 34,114 Shares Issued in Lieu of Cash Distributions..................... 3,233 5,452 Shares Redeemed................................................. (25,465) (18,952) ---------- ---------- Net Increase (Decrease) from Shares Issued and Redeemed..................................................... 28,234 20,614 ========== ========== UNDISTRIBUTED NET INVESTMENT INCOME (DISTRIBUTIONS IN EXCESS OF NET INVESTMENT INCOME)........................................ $ 6,864 $ 8,306 ---------- Seepage 1 for the Definitions of Abbreviations and Footnotes. * Net of foreign capital gain taxes withheld of $0, $0, $0, $0, $0 and $13, respectively. See accompanying Notes to Financial Statements. 127 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (AMOUNTS IN THOUSANDS) EMERGING MARKETS SMALL EMERGING MARKETS VALUE CAP PORTFOLIO PORTFOLIO ---------------------- ------------------------ YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2013 2012 ---------- ---------- ----------- ----------- INCREASE (DECREASE) IN NET ASSETS Operations: Net Investment Income (Loss).......................... $ 69,684 $ 46,726 $ 342,372 $ 308,227 Net Realized Gain (Loss) on: Investment Securities Sold........................... 64,325 101,576 296,735 362,676 Futures.............................................. 452 (812) -- (1,255) Foreign Currency Transactions*....................... (1,227) (1,523) (2,807) (4,701) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency............................................ 146,169 9,556 717,140 (535,878) Futures.............................................. 4 -- -- -- Translation of Foreign Currency Denominated Amounts............................................. (42) (21) 7 (113) ---------- ---------- ----------- ----------- Net Increase (Decrease) in Net Assets Resulting from Operations......................... 279,365 155,502 1,353,447 128,956 ---------- ---------- ----------- ----------- Distributions From: Net Investment Income: Class R2 Shares...................................... -- -- (1,837) (1,576) Institutional Class Shares........................... (67,721) (40,500) (355,664) (285,978) Net Short-Term Gains: Institutional Class Shares........................... (3,428) -- -- -- Net Long-Term Gains: Class R2 Shares...................................... -- -- (2,090) (1,207) Institutional Class Shares........................... (92,100) (37,112) (342,441) (187,999) ---------- ---------- ----------- ----------- Total Distributions................................ (163,249) (77,612) (702,032) (476,760) ---------- ---------- ----------- ----------- Capital Share Transactions (1): Shares Issued......................................... 1,458,450 1,164,899 4,240,153 5,108,640 Shares Issued in Lieu of Cash Distributions........... 142,712 68,580 656,583 439,131 Shares Redeemed....................................... (583,088) (236,441) (2,967,974) (2,319,607) ---------- ---------- ----------- ----------- Net Increase (Decrease) from Capital Share Transactions...................................... 1,018,074 997,038 1,928,762 3,228,164 ---------- ---------- ----------- ----------- Total Increase (Decrease) in Net Assets............ 1,134,190 1,074,928 2,580,177 2,880,360 NET ASSETS Beginning of Year..................................... 2,907,673 1,832,745 16,688,730 13,808,370 ---------- ---------- ----------- ----------- End of Year........................................... $4,041,863 $2,907,673 $19,268,907 $16,688,730 ========== ========== =========== =========== (1) SHARES ISSUED AND REDEEMED: Shares Issued......................................... 69,669 59,256 148,957 181,833 Shares Issued in Lieu of Cash Distributions........... 6,956 3,782 22,991 16,750 Shares Redeemed....................................... (28,076) (12,340) (105,179) (82,979) ---------- ---------- ----------- ----------- Net Increase (Decrease) from Shares Issued and Redeemed............................... 48,549 50,698 66,769 115,604 ========== ========== =========== =========== UNDISTRIBUTED NET INVESTMENT INCOME (DISTRIBUTIONS IN EXCESS OF NET INVESTMENT INCOME)................................................ $ 8,340 $ 6,451 $ 14,739 $ 40,292 EMERGING MARKETS CORE EQUITY PORTFOLIO ------------------------ YEAR YEAR ENDED ENDED OCT. 31, OCT. 31, 2013 2012 ----------- ----------- INCREASE (DECREASE) IN NET ASSETS Operations: Net Investment Income (Loss).......................... $ 211,992 $ 155,928 Net Realized Gain (Loss) on: Investment Securities Sold........................... (9,977) (8,860) Futures.............................................. -- 1,190 Foreign Currency Transactions*....................... (2,207) (1,300) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency............................................ 581,086 122,105 Futures.............................................. -- -- Translation of Foreign Currency Denominated Amounts............................................. (79) (51) ----------- ----------- Net Increase (Decrease) in Net Assets Resulting from Operations......................... 780,815 269,012 ----------- ----------- Distributions From: Net Investment Income: Class R2 Shares...................................... -- -- Institutional Class Shares........................... (205,400) (139,837) Net Short-Term Gains: Institutional Class Shares........................... -- -- Net Long-Term Gains: Class R2 Shares...................................... -- -- Institutional Class Shares........................... -- -- ----------- ----------- Total Distributions................................ (205,400) (139,837) ----------- ----------- Capital Share Transactions (1): Shares Issued......................................... 5,406,041 4,068,293 Shares Issued in Lieu of Cash Distributions........... 187,871 126,291 Shares Redeemed....................................... (1,743,072) (1,096,525) ----------- ----------- Net Increase (Decrease) from Capital Share Transactions...................................... 3,850,840 3,098,059 ----------- ----------- Total Increase (Decrease) in Net Assets............ 4,426,255 3,227,234 NET ASSETS Beginning of Year..................................... 8,594,707 5,367,473 ----------- ----------- End of Year........................................... $13,020,962 $ 8,594,707 =========== =========== (1) SHARES ISSUED AND REDEEMED: Shares Issued......................................... 276,461 218,730 Shares Issued in Lieu of Cash Distributions........... 9,689 7,108 Shares Redeemed....................................... (90,412) (60,020) ----------- ----------- Net Increase (Decrease) from Shares Issued and Redeemed............................... 195,738 165,818 =========== =========== UNDISTRIBUTED NET INVESTMENT INCOME (DISTRIBUTIONS IN EXCESS OF NET INVESTMENT INCOME)................................................ $ 31,355 $ 26,576 ---------- * Net of foreign capital gain taxes withheld of $1, $86, $0, $310, $0 and $541, respectively. See accompanying Notes to Financial Statements. 128 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) U.S. LARGE CAP EQUITY ENHANCED U.S. LARGE COMPANY PORTFOLIO PORTFOLIO ------------------------------------------------ ---------- PERIOD YEAR YEAR YEAR YEAR YEAR JUNE 25, ENDED ENDED ENDED ENDED ENDED 2013(A) TO OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 2013 --------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period........................ $ 9.29 $ 8.15 $ 7.53 $ 6.48 $ 6.47 $ 10.00 -------- -------- -------- -------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.07 0.07 0.07 0.07 0.05 0.06 Net Gains (Losses) on Securities (Realized and Unrealized). 2.42 1.20 0.56 1.05 0.61 1.04 -------- -------- -------- -------- -------- -------- Total from Investment Operations......................... 2.49 1.27 0.63 1.12 0.66 1.10 --------------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.08) (0.13) (0.01) (0.07) (0.59) (0.03) Net Realized Gains......................................... -- -- -- -- (0.06) -- -------- -------- -------- -------- -------- -------- Total Distributions...................................... (0.08) (0.13) (0.01) (0.07) (0.65) (0.03) --------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Period.............................. $ 11.70 $ 9.29 $ 8.15 $ 7.53 $ 6.48 $ 11.07 =========================================================== ======== ======== ======== ======== ======== ========== Total Return................................................ 26.99% 15.84% 8.41% 17.40% 12.23% 11.01%(D) --------------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)....................... $212,840 $190,011 $171,128 $157,730 $165,231 $135,407 Ratio of Expenses to Average Net Assets..................... 0.24% 0.25% 0.26% 0.26% 0.29%** 0.19%(C)(E) Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly)...................... 0.24% 0.25% 0.26% 0.26% 0.29%** 0.25%(C)(E) Ratio of Net Investment Income to Average Net Assets........ 0.63% 0.80% 0.86% 0.98% 0.86% 1.58%(C)(E) Portfolio Turnover Rate..................................... 139% 76% 140% 78% 46%* 0%(D) --------------------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. * For the period February 28, 2009 through October 31, 2009. Effective February 28, 2009, Enhanced U.S. Large Company Portfolio invests directly in securities rather than through the Series. **Represents the combined ratios for the respective portfolio and for the period November 1, 2008 through February 27, 2009, its respective pro-rata share of its Master Fund Series. See accompanying Notes to Financial Statements. 129 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) U.S. LARGE CAP VALUE PORTFOLIO ------------------------------------------------------------ YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period........................ $ 22.34 $ 19.29 $ 18.58 $ 15.81 ----------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.47 0.41 0.33 0.33 Net Gains (Losses) on Securities (Realized and Unrealized). 7.38 3.04 0.70 2.76 ----------- ---------- ---------- ---------- Total from Investment Operations......................... 7.85 3.45 1.03 3.09 -------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.47) (0.40) (0.32) (0.32) Net Realized Gains......................................... -- -- -- -- ----------- ---------- ---------- ---------- Total Distributions...................................... (0.47) (0.40) (0.32) (0.32) -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Period.............................. $ 29.72 $ 22.34 $ 19.29 $ 18.58 =========================================================== =========== ========== ========== ========== Total Return................................................ 35.52% 18.14% 5.53% 19.72% -------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)....................... $11,963,072 $8,334,585 $7,340,344 $6,921,036 Ratio of Expenses to Average Net Assets..................... 0.27%(B) 0.27%(B) 0.28%(B) 0.28%(B) Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumptions of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly)...................... 0.27%(B) 0.27%(B) 0.28%(B) 0.28%(B) Ratio of Net Investment Income to Average Net Assets........ 1.82% 1.99% 1.63% 1.86% Portfolio Turnover Rate..................................... N/A N/A N/A N/A -------------------------------------------------------------------------------------------------------------------------- ----------- YEAR ENDED OCT. 31, 2009 --------------------------------------------------------------------------- Net Asset Value, Beginning of Period........................ $ 14.58 ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.31 Net Gains (Losses) on Securities (Realized and Unrealized). 1.28 ---------- Total from Investment Operations......................... 1.59 --------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.34) Net Realized Gains......................................... (0.02) ---------- Total Distributions...................................... (0.36) --------------------------------------------------------------------------- Net Asset Value, End of Period.............................. $ 15.81 =========================================================== ========== Total Return................................................ 11.76% --------------------------------------------------------------------------- Net Assets, End of Period (thousands)....................... $5,863,652 Ratio of Expenses to Average Net Assets..................... 0.30%(B) Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumptions of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly)...................... 0.30%(B) Ratio of Net Investment Income to Average Net Assets........ 2.26% Portfolio Turnover Rate..................................... N/A --------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. * For the period February 28, 2009 through October 31, 2009. Effective February 28, 2009, U.S. Large Cap Value Portfolio invests directly in securities rather than through the Series. **Represents the combined ratios for the respective portfolio and for the period November 1, 2008 through February 27, 2009, its respective pro-rata share of its Master Fund Series. See accompanying Notes to Financial Statements. 130 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) U.S. TARGETED VALUE PORTFOLIO-CLASS R1 SHARES+ ------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 ------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $17.28 $ 15.32 $ 14.75 $ 11.73 $ 10.92 ------ ------- ------- ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.27 0.15 0.10 0.07 0.12 Net Gains (Losses) on Securities (Realized and Unrealized). 6.28 2.06 0.60 3.07 0.87 ------ ------- ------- ------- ------- Total from Investment Operations.......................... 6.55 2.21 0.70 3.14 0.99 ------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.22) (0.13) (0.10) (0.12) (0.18) Net Realized Gains......................................... (0.98) (0.12) (0.03) -- -- ------ ------- ------- ------- ------- Total Distributions....................................... (1.20) (0.25) (0.13) (0.12) (0.18) ------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $22.63 $ 17.28 $ 15.32 $ 14.75 $ 11.73 ============================================================= ======== ======== ======== ======== ======== Total Return................................................. 40.39% 14.67% 4.69% 26.93% 9.36% ------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $9,470 $49,423 $45,132 $41,316 $31,393 Ratio of Expenses to Average Net Assets...................... 0.47% 0.48% 0.48% 0.49% 0.52% Ratio of Net Investment Income to Average Net Assets......... 1.42% 0.93% 0.61% 0.59% 1.12% Portfolio Turnover Rate...................................... 16% 20% 23% 20% 17% ------------------------------------------------------------------------------------------------------------- U.S. TARGETED VALUE PORTFOLIO-CLASS R2 SHARES+ ------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 ------------------------------------------------------------------------------------------------------------ Net Asset Value, Beginning of Year........................... $ 17.26 $ 15.31 $ 14.76 $11.74 $10.91 ------- ------- ------- ------ ------ Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.19 0.13 0.07 0.05 0.10 Net Gains (Losses) on Securities (Realized and Unrealized). 6.31 2.05 0.60 3.07 0.88 ------- ------- ------- ------ ------ Total from Investment Operations.......................... 6.50 2.18 0.67 3.12 0.98 ------------------------------------------------------------------------------------------------------------ Less Distributions ------------------ Net Investment Income...................................... (0.21) (0.11) (0.09) (0.10) (0.15) Net Realized Gains......................................... (0.98) (0.12) (0.03) -- -- ------- ------- ------- ------ ------ Total Distributions....................................... (1.19) (0.23) (0.12) (0.10) (0.15) ------------------------------------------------------------------------------------------------------------ Net Asset Value, End of Year................................. $ 22.57 $ 17.26 $ 15.31 $14.76 $11.74 ============================================================= ======== ======== ======== ======== ======== Total Return................................................. 40.10% 14.46% 4.50% 26.66% 9.23% ------------------------------------------------------------------------------------------------------------ Net Assets, End of Year (thousands).......................... $23,305 $12,754 $10,918 $5,967 $2,930 Ratio of Expenses to Average Net Assets...................... 0.62% 0.63% 0.63% 0.64% 0.67% Ratio of Net Investment Income to Average Net Assets......... 0.95% 0.78% 0.42% 0.44% 0.91% Portfolio Turnover Rate...................................... 16% 20% 23% 20% 17% ------------------------------------------------------------------------------------------------------------ See page 1 for the Definitions of Abbreviations and Footnotes. + All per share amounts and net assets values prior to November 19, 2010 have been adjusted as a result of the reverse stock split on November 19, 2010. (Note G) See accompanying Notes to Financial Statements. 131 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) U.S. TARGETED VALUE PORTFOLIO-INSTITUTIONAL CLASS SHARES ---------------------------------------------------------- ----------- YEAR YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 2013 ------------------------------------------------------------------------------------------------------------------------------ Net Asset Value, Beginning of Year................... $ 17.28 $ 15.32 $ 14.76 $ 11.70 $ 10.84 $ 26.57 ---------- ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)................... 0.24 0.17 0.12 0.09 0.12 0.39 Net Gains (Losses) on Securities (Realized and Unrealized)....................................... 6.31 2.06 0.59 3.06 0.88 9.41 ---------- ---------- ---------- ---------- ---------- ---------- Total from Investment Operations.................. 6.55 2.23 0.71 3.15 1.00 9.80 ------------------------------------------------------------------------------------------------------------------------------ Less Distributions ------------------ Net Investment Income.............................. (0.25) (0.15) (0.12) (0.09) (0.14) (0.37) Net Realized Gains................................. (0.98) (0.12) (0.03) -- -- (1.52) ---------- ---------- ---------- ---------- ---------- ---------- Total Distributions............................... (1.23) (0.27) (0.15) (0.09) (0.14) (1.89) ------------------------------------------------------------------------------------------------------------------------------ Net Asset Value, End of Year......................... $ 22.60 $ 17.28 $ 15.32 $ 14.76 $ 11.70 $ 34.48 ===================================================== ========== ========== ========== ========== ========== ========== Total Return......................................... 40.40% 14.78% 4.76% 27.02% 9.47% 39.35% ------------------------------------------------------------------------------------------------------------------------------ Net Assets, End of Year (thousands).................. $4,180,974 $2,989,632 $2,487,929 $2,223,982 $1,449,437 $9,526,981 Ratio of Expenses to Average Net Assets.............. 0.37% 0.38% 0.38% 0.38% 0.41% 0.52% Ratio of Net Investment Income to Average Net Assets. 1.25% 1.03% 0.71% 0.69% 1.19% 1.28% Portfolio Turnover Rate.............................. 16% 20% 23% 20% 17% 14% ------------------------------------------------------------------------------------------------------------------------------ U.S. SMALL CAP VALUE PORTFOLIO ----------------------------------------------- YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2012 2011 2010 2009 ------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year................... $ 23.50 $ 22.49 $ 17.69 $ 16.32 ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)................... 0.20 0.16 0.09 0.04 Net Gains (Losses) on Securities (Realized and Unrealized)....................................... 3.38 1.00 4.79 1.54 ---------- ---------- ---------- ---------- Total from Investment Operations.................. 3.58 1.16 4.88 1.58 ------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income.............................. (0.18) (0.15) (0.08) (0.21) Net Realized Gains................................. (0.33) -- -- -- ---------- ---------- ---------- ---------- Total Distributions............................... (0.51) (0.15) (0.08) (0.21) ------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year......................... $ 26.57 $ 23.50 $ 22.49 $ 17.69 ===================================================== ========== ========== ========== ========== Total Return......................................... 15.60% 5.13% 27.69% 9.97% ------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).................. $7,088,470 $6,540,863 $6,555,277 $5,669,659 Ratio of Expenses to Average Net Assets.............. 0.52% 0.52% 0.52% 0.54%++ Ratio of Net Investment Income to Average Net Assets. 0.78% 0.62% 0.43% 0.27% Portfolio Turnover Rate.............................. 15% 14% 19% 21%+ ------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. + For the period February 28, 2009 through October 31, 2009. Effective February 28, 2009, U.S. Small Cap Value Portfolio invests directly in securities rather than through the Series. ++Represents the combined ratios for the respective portfolio and for the period November 1, 2008 through February 27, 2009, its respective pro-rata share of its Master Fund Series. See accompanying Notes to Financial Statements. 132 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) U.S. CORE EQUITY 1 PORTFOLIO ---------------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 12.11 $ 10.78 $ 10.18 $ 8.54 $ 7.81 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.25 0.21 0.17 0.15 0.15 Net Gains (Losses) on Securities (Realized and Unrealized). 3.62 1.32 0.59 1.61 0.73 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations.......................... 3.87 1.53 0.76 1.76 0.88 -------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.24) (0.20) (0.16) (0.12) (0.15) Net Realized Gains......................................... -- -- -- -- -- ---------- ---------- ---------- ---------- ---------- Total Distributions....................................... (0.24) (0.20) (0.16) (0.12) (0.15) -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 15.74 $ 12.11 $ 10.78 $ 10.18 $ 8.54 ============================================================= ========== ========== ========== ========== ========== Total Return................................................. 32.32% 14.29% 7.47% 20.80% 11.64% -------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $7,566,179 $4,876,973 $3,731,411 $2,897,409 $1,989,583 Ratio of Expenses to Average Net Assets...................... 0.19% 0.19% 0.20% 0.20% 0.22% Ratio of Net Investment Income to Average Net Assets......... 1.79% 1.79% 1.49% 1.53% 2.02% Portfolio Turnover Rate...................................... 1% 3% 5% 4% 7% -------------------------------------------------------------------------------------------------------------------------- U.S. CORE EQUITY 2 PORTFOLIO ---------------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 ------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 11.99 $ 10.61 $ 10.06 $ 8.39 $ 7.73 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.24 0.20 0.16 0.14 0.14 Net Gains (Losses) on Securities (Realized and Unrealized). 3.73 1.36 0.54 1.64 0.66 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations.......................... 3.97 1.56 0.70 1.78 0.80 ------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.24) (0.18) (0.15) (0.11) (0.14) Net Realized Gains......................................... (0.10) -- -- -- -- ---------- ---------- ---------- ---------- ---------- Total Distributions....................................... (0.34) (0.18) (0.15) (0.11) (0.14) ------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 15.62 $ 11.99 $ 10.61 $ 10.06 $ 8.39 ============================================================= ========== ========== ========== ========== ========== Total Return................................................. 33.66% 14.81% 6.98% 21.41% 10.66% ------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $9,989,564 $6,923,984 $5,819,906 $4,990,367 $3,804,325 Ratio of Expenses to Average Net Assets...................... 0.22% 0.22% 0.22% 0.23% 0.24% Ratio of Net Investment Income to Average Net Assets......... 1.74% 1.74% 1.42% 1.47% 1.89% Portfolio Turnover Rate...................................... 3% 5% 9% 7% 4% ------------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 133 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) U.S. VECTOR EQUITY PORTFOLIO 170 ---------------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 ------------------------------------------------------------------------------------------------------------------------ Net Asset Value, Beginning of Year.......................... $ 11.61 $ 10.28 $ 9.82 $ 8.03 $ 7.48 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.20 0.16 0.12 0.10 0.11 Net Gains (Losses) on Securities (Realized and Unrealized). 4.03 1.32 0.46 1.79 0.57 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations......................... 4.23 1.48 0.58 1.89 0.68 ------------------------------------------------------------------------------------------------------------------------ Less Distributions ------------------ Net Investment Income...................................... (0.20) (0.15) (0.12) (0.10) (0.13) Net Realized Gains......................................... (0.02) -- -- -- -- ---------- ---------- ---------- ---------- ---------- Total Distributions...................................... (0.22) (0.15) (0.12) (0.10) (0.13) ------------------------------------------------------------------------------------------------------------------------ Net Asset Value, End of Year................................ $ 15.62 $ 11.61 $ 10.28 $ 9.82 $ 8.03 =========================================================== ========== ========== ========== ========== ========== Total Return................................................ 36.80% 14.55% 5.86% 23.65% 9.47% ------------------------------------------------------------------------------------------------------------------------ Net Assets, End of Year (thousands)......................... $2,893,842 $2,009,177 $1,851,895 $1,558,423 $1,178,114 Ratio of Expenses to Average Net Assets..................... 0.32% 0.32% 0.33% 0.33% 0.35% Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumptions of Expenses and/or Recovery of Previously Waived Fees)............................................... 0.32% 0.32% 0.33% 0.33% 0.35% Ratio of Net Investment Income to Average Net Assets........ 1.50% 1.45% 1.11% 1.13% 1.60% Portfolio Turnover Rate..................................... 3% 9% 10% 11% 11% ------------------------------------------------------------------------------------------------------------------------ See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 134 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) U.S. SMALL CAP PORTFOLIO ---------------------------------------------------------- ----------- YEAR YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 2013 -------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year................... $ 23.11 $ 20.55 $ 19.06 $ 14.89 $ 13.35 $ 14.84 ---------- ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)................... 0.35 0.25 0.18 0.13 0.06 0.19 Net Gains (Losses) on Securities (Realized and Unrealized)....................................... 8.13 2.53 1.49 4.17 1.65 5.57 ---------- ---------- ---------- ---------- ---------- ---------- Total from Investment Operations.................. 8.48 2.78 1.67 4.30 1.71 5.76 -------------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income.............................. (0.36) (0.22) (0.18) (0.13) (0.17) (0.20) Net Realized Gains................................. (1.20) -- -- -- -- (0.76) ---------- ---------- ---------- ---------- ---------- ---------- Total Distributions............................... (1.56) (0.22) (0.18) (0.13) (0.17) (0.96) -------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year......................... $ 30.03 $ 23.11 $ 20.55 $ 19.06 $ 14.89 $ 19.64 ===================================================== ========== ========== ========== ========== ========== ========== Total Return......................................... 39.03% 13.61% 8.76% 28.99% 13.08% 41.34% -------------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).................. $7,446,827 $4,563,345 $3,770,323 $3,391,457 $2,522,001 $4,695,831 Ratio of Expenses to Average Net Assets.............. 0.37% 0.37% 0.37% 0.37% 0.40%** 0.52% Ratio of Net Investment Income to Average Net Assets. 1.33% 1.14% 0.84% 0.76% 0.50% 1.16% Portfolio Turnover Rate.............................. 10% 16% 23% 19% 17%* 11% -------------------------------------------------------------------------------------------------------------------------------- U.S. MICRO CAP PORTFOLIO ----------------------------------------------- YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2012 2011 2010 2009 ------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year................... $ 13.24 $ 12.25 $ 9.57 $ 9.19 ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)................... 0.14 0.09 0.06 0.03 Net Gains (Losses) on Securities (Realized and Unrealized)....................................... 1.59 0.99 2.68 0.54 ---------- ---------- ---------- ---------- Total from Investment Operations.................. 1.73 1.08 2.74 0.57 ------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income.............................. (0.13) (0.09) (0.06) (0.19) Net Realized Gains................................. -- -- -- -- ---------- ---------- ---------- ---------- Total Distributions............................... (0.13) (0.09) (0.06) (0.19) ------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year......................... $ 14.84 $ 13.24 $ 12.25 $ 9.57 ===================================================== ========== ========== ========== ========== Total Return......................................... 13.13% 8.85% 28.77% 6.61% ------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).................. $3,437,958 $3,257,719 $3,178,286 $2,818,365 Ratio of Expenses to Average Net Assets.............. 0.52% 0.52% 0.52% 0.54%** Ratio of Net Investment Income to Average Net Assets. 0.99% 0.69% 0.58% 0.38% Portfolio Turnover Rate.............................. 15% 14% 9% 12%* ------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. * For the period February 28, 2009 through October 31, 2009. Effective February 28, 2009, the Portfolios invest directly in securities rather than through the Series. **Represents the combined ratios for the respective portfolio and for the period November 1, 2008 through February 27, 2009, its respective pro-rata share of its Master Fund Series. See accompanying Notes to Financial Statements. 135 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) DFA REAL ESTATE SECURITIES PORTFOLIO ---------------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 ---------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year............................. $ 25.83 $ 23.25 $ 21.24 $ 15.29 $ 16.16 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)............................. 0.67 0.57 0.40 0.58 0.58 Net Gains (Losses) on Securities (Realized and Unrealized)... 1.95 2.74 1.93 5.92 (0.62) ---------- ---------- ---------- ---------- ---------- Total from Investment Operations............................ 2.62 3.31 2.33 6.50 (0.04) ---------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income........................................ (0.68) (0.73) (0.32) (0.55) (0.83) ---------- ---------- ---------- ---------- ---------- Total Distributions......................................... (0.68) (0.73) (0.32) (0.55) (0.83) ---------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................... $ 27.77 $ 25.83 $ 23.25 $ 21.24 $ 15.29 =============================================================== ========== ========== ========== ========== ========== Total Return................................................... 10.28% 14.45% 11.09% 43.21% 0.98% ---------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)............................ $4,677,418 $3,716,389 $3,098,647 $2,689,552 $2,018,559 Ratio of Expenses to Average Net Assets........................ 0.18% 0.22% 0.32% 0.33% 0.36% Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly)................................ 0.19% 0.23% 0.32% 0.33% 0.36% Ratio of Net Investment Income to Average Net Assets........... 2.42% 2.29% 1.76% 3.13% 4.54% Portfolio Turnover Rate........................................ 1% 0% 3% 2% 2% ---------------------------------------------------------------------------------------------------------------------------- LARGE CAP INTERNATIONAL PORTFOLIO ----------------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 ---------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year............................. $ 18.33 $ 17.91 $ 19.42 $ 18.02 $ 14.81 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)............................. 0.58 0.60 0.63 0.48 0.48 Net Gains (Losses) on Securities (Realized and Unrealized)... 3.90 0.40 (1.53) 1.43 3.16 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations............................ 4.48 1.00 (0.90) 1.91 3.64 ---------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income........................................ (0.61) (0.58) (0.61) (0.51) (0.43) ---------- ---------- ---------- ---------- ---------- Total Distributions......................................... (0.61) (0.58) (0.61) (0.51) (0.43) ---------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................... $ 22.20 $ 18.33 $ 17.91 $ 19.42 $ 18.02 =============================================================== ========== ========== ========== ========== ========== Total Return................................................... 24.85% 5.89% (4.86)% 10.99% 25.20% ---------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)............................ $2,755,114 $2,055,759 $1,704,149 $1,616,686 $1,364,351 Ratio of Expenses to Average Net Assets........................ 0.29% 0.30% 0.30% 0.30% 0.32% Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly)................................ 0.29% 0.30% 0.30% 0.30% 0.32% Ratio of Net Investment Income to Average Net Assets........... 2.90% 3.38% 3.19% 2.65% 3.14% Portfolio Turnover Rate........................................ 5% 4% 3% 7% 12% ---------------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 136 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) INTERNATIONAL CORE EQUITY PORTFOLIO ----------------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 ------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year.......................... $ 10.10 $ 9.89 $ 10.78 $ 9.79 $ 7.46 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.31 0.31 0.33 0.23 0.23 Net Gains (Losses) on Securities (Realized and Unrealized). 2.47 0.20 (0.89) 0.96 2.32 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations......................... 2.78 0.51 (0.56) 1.19 2.55 ------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.31) (0.30) (0.33) (0.20) (0.22) ---------- ---------- ---------- ---------- ---------- Total Distributions...................................... (0.31) (0.30) (0.33) (0.20) (0.22) ------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................ $ 12.57 $ 10.10 $ 9.89 $ 10.78 $ 9.79 =========================================================== ========== ========== ========== ========== ========== Total Return................................................ 27.98% 5.49% (5.49)% 12.48% 34.81% ------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)......................... $9,508,466 $6,482,738 $5,395,884 $4,866,989 $3,699,842 Ratio of Expenses to Average Net Assets..................... 0.39% 0.40% 0.40% 0.40% 0.41% Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly)...................... 0.39% 0.40% 0.40% 0.40% 0.41% Ratio of Net Investment Income to Average Net Assets........ 2.80% 3.18% 2.96% 2.31% 2.84% Portfolio Turnover Rate..................................... 3% 5% 3% 2% 5% ------------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 137 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) INTERNATIONAL SMALL COMPANY PORTFOLIO ----------------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 ----------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year............................. $ 15.28 $ 15.21 $ 16.14 $ 13.99 $ 10.07 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)............................. 0.42 0.38 0.40 0.28 0.28 Net Gains (Losses) on Securities (Realized and Unrealized)... 4.16 0.39 (0.83) 2.13 3.91 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations............................ 4.58 0.77 (0.43) 2.41 4.19 ----------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income........................................ (0.37) (0.42) (0.50) (0.26) (0.27) Net Realized Gains........................................... (0.09) (0.28) -- -- -- ---------- ---------- ---------- ---------- ---------- Total Distributions......................................... (0.46) (0.70) (0.50) (0.26) (0.27) ----------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................... $ 19.40 $ 15.28 $ 15.21 $ 16.14 $ 13.99 =============================================================== ========== ========== ========== ========== ========== Total Return................................................ 30.66% 5.63% (2.92)% 17.61% 42.34% ----------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)............................ $8,520,717 $6,423,160 $5,834,015 $5,511,594 $4,269,864 Ratio of Expenses to Average Net Assets (B).................... 0.54% 0.56% 0.55% 0.56% 0.57% Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumptions of Expenses and/or Recovery of Previously Waived Fees) (B)..................................................... 0.54% 0.56% 0.55% 0.56% 0.57% Ratio of Net Investment Income to Average Net Assets........... 2.47% 2.58% 2.37% 1.94% 2.48% ----------------------------------------------------------------------------------------------------------------------------- JAPANESE SMALL COMPANY PORTFOLIO ------------------------------------------------ YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 ----------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year............................. $ 14.99 $ 15.24 $ 14.13 $ 14.32 $ 11.97 -------- -------- -------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)............................. 0.26 0.29 0.27 0.22 0.22 Net Gains (Losses) on Securities (Realized and Unrealized)... 4.21 (0.26) 1.08 (0.18) 2.39 -------- -------- -------- -------- -------- Total from Investment Operations............................ 4.47 0.03 1.35 0.04 2.61 ----------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income........................................ (0.13) (0.28) (0.24) (0.23) (0.26) Net Realized Gains........................................... -- -- -- -- -- -------- -------- -------- -------- -------- Total Distributions......................................... (0.13) (0.28) (0.24) (0.23) (0.26) ----------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................... $ 19.33 $ 14.99 $ 15.24 $ 14.13 $ 14.32 =============================================================== ======== ======== ======== ======== ======== Total Return................................................ 30.06% 0.20% 9.57% 0.33% 22.08% ----------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)............................ $414,132 $293,968 $163,120 $114,933 $114,058 Ratio of Expenses to Average Net Assets (B).................... 0.56% 0.57% 0.56% 0.57% 0.59% Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumptions of Expenses and/or Recovery of Previously Waived Fees) (B)..................................................... 0.56% 0.57% 0.56% 0.57% 0.59% Ratio of Net Investment Income to Average Net Assets........... 1.51% 1.88% 1.74% 1.52% 1.68% ----------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 138 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) ASIA PACIFIC SMALL COMPANY PORTFOLIO ------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 ---------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year............................................ $ 23.22 $ 23.04 $ 25.64 $ 20.59 $ 11.67 -------- -------- -------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)............................................ 1.01 0.87 0.85 0.69 0.50 Net Gains (Losses) on Securities (Realized and Unrealized).................. 1.37 0.58 (2.16) 4.99 8.95 -------- -------- -------- -------- -------- Total from Investment Operations........................................... 2.38 1.45 (1.31) 5.68 9.45 ---------------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income....................................................... (0.78) (1.27) (1.29) (0.63) (0.53) -------- -------- -------- -------- -------- Total Distributions........................................................ (0.78) (1.27) (1.29) (0.63) (0.53) ---------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year.................................................. $ 24.82 $ 23.22 $ 23.04 $ 25.64 $ 20.59 ============================================================================== ======== ======== ======== ======== ======== Total Return............................................................... 10.46% 7.09% (5.59)% 28.36% 84.11% ---------------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)........................................... $331,166 $238,191 $139,262 $131,511 $101,853 Ratio of Expenses to Average Net Assets (B)................................... 0.57% 0.59% 0.60% 0.63% 0.65% Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumptions of Expenses and/or Recovery of Previously Waived Fees) (B)...................... 0.57% 0.59% 0.60% 0.61% 0.65% Ratio of Net Investment Income to Average Net Assets.......................... 4.26% 3.91% 3.34% 3.14% 3.53% ---------------------------------------------------------------------------------------------------------------------------------- UNITED KINGDOM SMALL COMPANY PORTFOLIO -------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 ---------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year............................................ $ 27.81 $ 23.44 $ 24.24 $ 19.83 $ 14.27 ------- ------- ------- ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)............................................ 0.88 0.69 0.82 0.50 0.55 Net Gains (Losses) on Securities (Realized and Unrealized).................. 9.17 4.47 (0.85) 4.41 5.44 ------- ------- ------- ------- ------- Total from Investment Operations........................................... 10.05 5.16 (0.03) 4.91 5.99 ---------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income....................................................... (0.90) (0.79) (0.77) (0.50) (0.43) ------- ------- ------- ------- ------- Total Distributions........................................................ (0.90) (0.79) (0.77) (0.50) (0.43) ---------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year.................................................. $ 36.96 $ 27.81 $ 23.44 $ 24.24 $ 19.83 ============================================================================== ======== ======== ======== ======== ======== Total Return............................................................... 36.81% 22.82% (0.28)% 25.37% 42.81% ---------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)........................................... $37,096 $31,316 $33,869 $33,751 $27,863 Ratio of Expenses to Average Net Assets (B)................................... 0.59% 0.60% 0.60% 0.60% 0.61% Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumptions of Expenses and/or Recovery of Previously Waived Fees) (B)...................... 0.63% 0.63% 0.62% 0.64% 0.70% Ratio of Net Investment Income to Average Net Assets.......................... 2.79% 2.83% 3.26% 2.39% 3.62% ---------------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 139 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) CONTINENTAL SMALL COMPANY PORTFOLIO ------------------------------------------------------------ YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 ------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 14.51 $ 14.66 $ 16.93 $ 15.02 $ 10.73 -------- -------- -------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.37 0.39 0.39 0.27 0.28 Net Gains (Losses) on Securities (Realized and Unrealized). 5.78 (0.17) (2.20) 1.89 4.29 -------- -------- -------- -------- -------- Total from Investment Operations.......................... 6.15 0.22 (1.81) 2.16 4.57 ------------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.40) (0.37) (0.46) (0.25) (0.28) -------- -------- -------- -------- -------- Total Distributions....................................... (0.40) (0.37) (0.46) (0.25) (0.28) ------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 20.26 $ 14.51 $ 14.66 $ 16.93 $ 15.02 ============================================================= ======== ======== ======== ======== ======== Total Return.............................................. 42.99% 1.85% (11.09)% 14.85% 43.12% ------------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $170,806 $106,316 $117,452 $128,106 $110,926 Ratio of Expenses to Average Net Assets...................... 0.58%(B) 0.59%(B) 0.58%(B) 0.59%(B) 0.62%(B) Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly)....................... 0.58%(B) 0.59%(B) 0.58%(B) 0.59%(B) 0.61%(B) Ratio of Net Investment Income to Average Net Assets......... 2.16% 2.78% 2.25% 1.78% 2.39% ------------------------------------------------------------------------------------------------------------------------------- Portfolio Turnover Rate...................................... N/A N/A N/A N/A N/A ------------------------------------------------------------------------------------------------------------------------------- DFA INTERNATIONAL REAL ESTATE SECURITIES PORTFOLIO ------------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 ---------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 5.67 $ 4.90 $ 5.58 $ 5.24 $ 4.18 ---------- ---------- ---------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.22 0.27 0.30 0.31 0.26 Net Gains (Losses) on Securities (Realized and Unrealized). 0.25 0.75 (0.33) 0.58 0.91 ---------- ---------- ---------- -------- -------- Total from Investment Operations.......................... 0.47 1.02 (0.03) 0.89 1.17 ---------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.66) (0.25) (0.65) (0.55) (0.11) ---------- ---------- ---------- -------- -------- Total Distributions....................................... (0.66) (0.25) (0.65) (0.55) (0.11) ---------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 5.48 $ 5.67 $ 4.90 $ 5.58 $ 5.24 ============================================================= ========== ========== ========== ======== ======== Total Return.............................................. 9.24% 22.34% (0.43)% 18.96% 29.25% ---------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $2,158,977 $1,531,708 $1,060,156 $958,554 $742,329 Ratio of Expenses to Average Net Assets...................... 0.39% 0.41% 0.42% 0.41% 0.43% Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly)....................... 0.39% 0.41% 0.42% 0.41% 0.43% Ratio of Net Investment Income to Average Net Assets......... 4.07% 5.45% 5.73% 6.42% 6.40% ---------------------------------------------------------------------------------------------------------------------- Portfolio Turnover Rate...................................... 5% 3% 7% 6% 5% ---------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 140 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) DFA GLOBAL REAL ESTATE SECURITIES PORTFOLIO ---------------------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year................... $ 9.33 $ 8.21 $ 8.28 $ 6.75 $ 6.04 ---------- ---------- -------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)................... 0.49 0.29 0.41 0.40 0.19 Net Gains (Losses) on Securities (Realized and Unrealized)....................................... 0.37 1.07 0.06 1.60 0.62 ---------- ---------- -------- -------- -------- Total from Investment Operations.................. 0.86 1.36 0.47 2.00 0.81 --------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income.............................. (0.60) (0.24) (0.54) (0.47) (0.10) Net Realized Gains................................. -- -- -- -- -- ---------- ---------- -------- -------- -------- Total Distributions............................... (0.60) (0.24) (0.54) (0.47) (0.10) --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year......................... $ 9.59 $ 9.33 $ 8.21 $ 8.28 $ 6.75 ===================================================== ========== ========== ======== ======== ======== Total Return......................................... 9.74% 17.33% 6.17% 31.38% 13.81% --------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).................. $2,082,707 $1,315,547 $869,348 $695,461 $432,502 Ratio of Expenses to Average Net Assets.............. 0.32%(B) 0.34%(B) 0.41%(B) 0.41%(B) 0.47%(B) Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly). 0.55%(B) 0.60%(B) 0.73%(B) 0.73%(B) 0.79%(B) Ratio of Net Investment Income to Average Net Assets. 5.18% 3.38% 5.01% 5.59% 3.40% Portfolio Turnover Rate.............................. N/A N/A N/A N/A N/A --------------------------------------------------------------------------------------------------------------------------- DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO ------------------------------------------------------------ YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 ------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year................... $ 15.16 $ 14.85 $ 16.16 $ 14.92 $ 10.82 ----------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)................... 0.37 0.34 0.34 0.24 0.26 Net Gains (Losses) on Securities (Realized and Unrealized)....................................... 5.21 0.61 (0.98) 1.22 4.14 ----------- ---------- ---------- ---------- ---------- Total from Investment Operations.................. 5.58 0.95 (0.64) 1.46 4.40 ------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income.............................. (0.36) (0.36) (0.38) (0.22) (0.24) Net Realized Gains................................. (0.21) (0.28) (0.29) -- (0.06) ----------- ---------- ---------- ---------- ---------- Total Distributions............................... (0.57) (0.64) (0.67) (0.22) (0.30) ------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year......................... $ 20.17 $ 15.16 $ 14.85 $ 16.16 $ 14.92 ===================================================== =========== ========== ========== ========== ========== Total Return......................................... 37.79% 6.92% (4.39)% 10.01% 41.42% ------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).................. $11,148,899 $8,266,610 $7,459,144 $7,655,318 $6,859,957 Ratio of Expenses to Average Net Assets.............. 0.69% 0.71% 0.70% 0.70% 0.71% Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly). 0.69% 0.71% 0.70% 0.70% 0.71% Ratio of Net Investment Income to Average Net Assets. 2.16% 2.30% 2.05% 1.57% 2.19% Portfolio Turnover Rate.............................. 9% 18% 16% 18% 22% ------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 141 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) INTERNATIONAL VECTOR EQUITY PORTFOLIO --------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 -------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period...................................... $ 9.33 $ 9.34 $ 10.28 $ 9.22 $ 6.74 ---------- -------- -------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................................ 0.26 0.27 0.29 0.18 0.17 Net Gains (Losses) on Securities (Realized and Unrealized).............. 2.44 0.14 (0.87) 1.05 2.46 ---------- -------- -------- -------- -------- Total from Investment Operations....................................... 2.70 0.41 (0.58) 1.23 2.63 -------------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income................................................... (0.25) (0.27) (0.29) (0.17) (0.15) Net Realized Gains...................................................... (0.03) (0.15) (0.07) -- -- ---------- -------- -------- -------- -------- Total Distributions.................................................... (0.28) (0.42) (0.36) (0.17) (0.15) -------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Period............................................ $ 11.75 $ 9.33 $ 9.34 $ 10.28 $ 9.22 ========================================================================== ========== ======== ======== ======== ======== Total Return.............................................................. 29.52% 4.90% (5.99)% 13.62% 39.52% -------------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)..................................... $1,090,774 $561,399 $410,580 $363,123 $262,544 Ratio of Expenses to Average Net Assets................................... 0.51% 0.54% 0.54% 0.54% 0.60% Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly).............................................................. 0.51% 0.54% 0.54% 0.53% 0.59% Ratio of Net Investment Income to Average Net Assets...................... 2.51% 2.94% 2.73% 1.91% 2.31% Portfolio Turnover Rate................................................... 2% 5% 10% 5% 8% -------------------------------------------------------------------------------------------------------------------------------- ------------ YEAR ENDED OCT. 31, 2013 ---------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period...................................... $ 9.94 -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................................ 0.29 Net Gains (Losses) on Securities (Realized and Unrealized).............. 2.02 -------- Total from Investment Operations....................................... 2.31 ---------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income................................................... (0.32) Net Realized Gains...................................................... -- -------- Total Distributions.................................................... (0.32) ---------------------------------------------------------------------------------------- Net Asset Value, End of Period............................................ $ 11.93 ========================================================================== ======== Total Return.............................................................. 23.61% ---------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)..................................... $117,587 Ratio of Expenses to Average Net Assets................................... 0.60%(B) Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly).............................................................. 0.76%(B) Ratio of Net Investment Income to Average Net Assets...................... 2.61% Portfolio Turnover Rate................................................... N/A ---------------------------------------------------------------------------------------- WORLD EX U.S. VALUE PORTFOLIO ------------------------------------ YEAR YEAR ENDED ENDED PERIOD OCT. 31, OCT. 31, AUG. 23, 2010(A) 2012 2011 TO OCT. 31, 2010 ------------------------------------------------------------------------------------------------------------------------ Net Asset Value, Beginning of Period...................................... $ 9.96 $ 11.35 $ 10.00 ------- ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................................ 0.29 0.30 0.02 Net Gains (Losses) on Securities (Realized and Unrealized).............. (0.05) (1.35) 1.33 ------- ------- ------- Total from Investment Operations....................................... 0.24 (1.05) 1.35 ------------------------------------------------------------------------------------------------------------------------ Less Distributions ------------------ Net Investment Income................................................... (0.26) (0.26) -- Net Realized Gains...................................................... -- (0.08) -- ------- ------- ------- Total Distributions.................................................... (0.26) (0.34) -- ------------------------------------------------------------------------------------------------------------------------ Net Asset Value, End of Period............................................ $ 9.94 $ 9.96 $ 11.35 ========================================================================== ======== ======== ================ Total Return.............................................................. 2.70% (9.59)% 13.50%(D) ------------------------------------------------------------------------------------------------------------------------ Net Assets, End of Period (thousands)..................................... $57,197 $47,165 $29,616 Ratio of Expenses to Average Net Assets................................... 0.60%(B) 0.60%(B) 0.90%(B)(C)(E) Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly).............................................................. 0.84%(B) 0.91%(B) 1.37%(B)(C)(E) Ratio of Net Investment Income to Average Net Assets...................... 2.97% 2.64% 0.76%(C)(E) Portfolio Turnover Rate................................................... N/A N/A N/A ------------------------------------------------------------------------------------------------------------------------ See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 142 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) WORLD EX WORLD EX U.S.TARGETED U.S.CORE SELECTIVELY HEDGED VALUE PORTFOLIO EQUITY PORTFOLIO GLOBAL EQUITY PORTFOLIO --------------- ---------------- -------------------- PERIOD PERIOD YEAR PERIOD NOV. 1, 2012(A) APRIL 9, 2013(A) ENDED NOV. 14,2011(A) TO OCT. 31, TO OCT. 31, OCT. 31, TO OCT. 31, 2013 2013 2013 2012 ------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period........................ $ 10.00 $ 10.00 $ 10.87 $ 10.00 ------- -------- ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.20 0.18 0.24 0.22 Net Gains (Losses) on Securities (Realized and Unrealized). 2.46 0.77 2.65 0.87 ------- -------- ------- ------- Total from Investment Operations......................... 2.66 0.95 2.89 1.09 ------------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.20) (0.18) (0.10) (0.22) Net Realized Gains......................................... -- -- (0.03) -- ------- -------- ------- ------- Total Distributions...................................... (0.20) (0.18) (0.13) (0.22) ------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Period.............................. $ 12.46 $ 10.77 $ 13.63 $ 10.87 =========================================================== =============== ================ ======== =============== Total Return................................................ 26.90%(D) 9.62%(D) 26.86% 11.11%(D) ------------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)....................... $96,010 $129,720 $91,348 $34,950 Ratio of Expenses to Average Net Assets (B)................. 0.79%(C)(E) 0.47%(C)(E) 0.40% 0.40%(C)(E) Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees) (B)........................................... 1.27%(C)(E) 0.97%(C)(E) 0.72% 1.00%(C)(E) Ratio of Net Investment Income to Average Net Assets........ 1.78%(C)(E) 3.12%(C)(E) 1.93% 2.13%(C)(E) Portfolio Turnover Rate..................................... N/A N/A N/A N/A ------------------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 143 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) EMERGING MARKETS PORTFOLIO ----------------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 26.06 $ 26.68 $ 30.90 $ 25.23 $ 17.05 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.52 0.55 0.61 0.48 0.42 Net Gains (Losses) on Securities (Realized and Unrealized). 1.17 0.37 (2.53) 6.07 8.42 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations.......................... 1.69 0.92 (1.92) 6.55 8.84 --------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.50) (0.50) (0.53) (0.46) (0.41) Net Realized Gains......................................... (0.28) (1.04) (1.77) (0.42) (0.25) ---------- ---------- ---------- ---------- ---------- Total Distributions....................................... (0.78) (1.54) (2.30) (0.88) (0.66) --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 26.97 $ 26.06 $ 26.68 $ 30.90 $ 25.23 ============================================================= ========== ========== ========== ========== ========== Total Return................................................. 6.58% 4.08% (6.82)% 26.53% 53.39% --------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $3,655,740 $2,797,177 $2,313,035 $2,372,498 $1,966,288 Ratio of Expenses to Average Net Assets (B).................. 0.57% 0.61% 0.61% 0.60% 0.62% Ratio of Net Investment Income to Average Net Assets......... 1.97% 2.14% 2.07% 1.76% 2.15% --------------------------------------------------------------------------------------------------------------------------- EMERGING MARKETS SMALL CAP PORTFOLIO ----------------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 20.33 $ 19.85 $ 24.26 $ 17.45 $ 9.33 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.40 0.40 0.42 0.34 0.26 Net Gains (Losses) on Securities (Realized and Unrealized). 1.37 0.83 (3.67) 6.79 8.14 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations.......................... 1.77 1.23 (3.25) 7.13 8.40 -------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.39) (0.35) (0.40) (0.32) (0.28) Net Realized Gains......................................... (0.61) (0.40) (0.76) -- -- ---------- ---------- ---------- ---------- ---------- Total Distributions....................................... (1.00) (0.75) (1.16) (0.32) (0.28) -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 21.10 $ 20.33 $ 19.85 $ 24.26 $ 17.45 ============================================================= ========== ========== ========== ========== ========== Total Return................................................. 8.92% 6.71% (14.03)% 41.33% 91.35% -------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $4,041,863 $2,907,673 $1,832,745 $1,833,038 $1,133,958 Ratio of Expenses to Average Net Assets (B).................. 0.75% 0.82% 0.79% 0.78% 0.80% Ratio of Net Investment Income to Average Net Assets......... 1.91% 2.01% 1.86% 1.70% 2.05% -------------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 144 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) EMERGING MARKETS VALUE PORTFOLIO-CLASS R2 SHARES+ --------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 ---------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 28.21 $ 29.02 $ 36.35 $ 46.84 $ 85.43 -------- ------- ------- ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.47 0.50 0.20 0.56 0.56 Net Gains (Losses) on Securities (Realized and Unrealized). 1.68 (0.45) (5.45) 9.18 21.36 -------- ------- ------- ------- ------- Total from Investment Operations.......................... 2.15 0.05 (5.25) 9.74 21.92 ---------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.50) (0.47) (0.45) (7.12) (6.00) Net Realized Gains......................................... (0.59) (0.39) (1.63) (13.11) (54.52) -------- ------- ------- ------- ------- Total Distributions....................................... (1.09) (0.86) (2.08) (20.23) (60.52) ---------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 29.27 $ 28.21 $ 29.02 $ 36.35 $ 46.83 ============================================================= ======== ======== ======== ======== ======== Total Return................................................. 7.75% 0.43% (15.24)% 29.71% 78.29% ---------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $106,070 $99,111 $78,157 $39,668 $ 5,082 Ratio of Expenses to Average Net Assets (B).................. 0.82% 0.86% 0.86% 0.86% 0.90% Ratio of Net Investment Income to Average Net Assets......... 1.65% 1.78% 1.56% 1.39% 1.39% ---------------------------------------------------------------------------------------------------------------- EMERGING MARKETS VALUE PORTFOLIO-INSTITUTIONAL CLASS SHARES --------------------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 ------------------------------------------------------------------------------------------------------------------------------ Net Asset Value, Beginning of Year........................... $ 28.22 $ 29.02 $ 36.27 $ 28.90 $ 19.36 ----------- ----------- ----------- ----------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.55 0.57 0.64 0.45 0.38 Net Gains (Losses) on Securities (Realized and Unrealized). 1.67 (0.44) (5.72) 8.01 12.41 ----------- ----------- ----------- ----------- ---------- Total from Investment Operations.......................... 2.22 0.13 (5.08) 8.46 12.79 ------------------------------------------------------------------------------------------------------------------------------ Less Distributions ------------------ Net Investment Income...................................... (0.57) (0.54) (0.54) (0.39) (0.34) Net Realized Gains......................................... (0.59) (0.39) (1.63) (0.70) (2.91) ----------- ----------- ----------- ----------- ---------- Total Distributions....................................... (1.16) (0.93) (2.17) (1.09) (3.25) ------------------------------------------------------------------------------------------------------------------------------ Net Asset Value, End of Year................................. $ 29.28 $ 28.22 $ 29.02 $ 36.27 $ 28.90 ============================================================= =========== =========== =========== =========== ========== Total Return................................................. 8.01% 0.70% (14.84)% 30.04% 78.59% ------------------------------------------------------------------------------------------------------------------------------ Net Assets, End of Year (thousands).......................... $19,162,837 $16,589,619 $13,730,213 $11,542,870 $7,401,266 Ratio of Expenses to Average Net Assets (B).................. 0.57% 0.61% 0.61% 0.60% 0.62% Ratio of Net Investment Income to Average Net Assets......... 1.91% 2.03% 1.88% 1.40% 1.76% ------------------------------------------------------------------------------------------------------------------------------ See page 1 for the Definitions of Abbreviations and Footnotes. + At the close of business on December 3, 2010, Class R2 Shares were converted to Class R2A Shares. Effective February 28, 2011, Class R2A Shares were renamed to Class R2 Shares. All per share amounts and net assets values have been adjusted as a result of the conversion. (Note G) See accompanying Notes to Financial Statements. 145 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) EMERGING MARKETS CORE EQUITY PORTFOLIO ------------------------------------------------------------ YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year.......................... $ 19.00 $ 18.73 $ 21.31 $ 16.49 $ 9.88 ----------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.39 0.41 0.43 0.30 0.25 Net Gains (Losses) on Securities (Realized and Unrealized). 1.07 0.23 (2.65) 4.81 6.56 ----------- ---------- ---------- ---------- ---------- Total from Investment Operations......................... 1.46 0.64 (2.22) 5.11 6.81 -------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.37) (0.37) (0.36) (0.29) (0.20) ----------- ---------- ---------- ---------- ---------- Total Distributions...................................... (0.37) (0.37) (0.36) (0.29) (0.20) -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................ $ 20.09 $ 19.00 $ 18.73 $ 21.31 $ 16.49 =========================================================== =========== ========== ========== ========== ========== Total Return................................................ 7.75% 3.55% (10.59)% 31.30% 69.47% -------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)......................... $13,020,962 $8,594,707 $5,367,473 $4,179,882 $2,455,035 Ratio of Expenses to Average Net Assets..................... 0.63% 0.68% 0.67% 0.65% 0.67% Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly)...................... 0.63% 0.68% 0.68% 0.65% 0.67% Ratio of Net Investment Income to Average Net Assets........ 1.97% 2.18% 2.04% 1.63% 2.03% Portfolio Turnover Rate..................................... 1% 1% 1% 4% 6% -------------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 146 DFA INVESTMENT DIMENSIONS GROUP INC. NOTES TO FINANCIAL STATEMENTS A. ORGANIZATION: DFA Investment Dimensions Group Inc. (the "Fund") is an open-end management investment company registered under the Investment Company Act of 1940, whose shares are generally offered to institutional investors, retirement plans and clients of registered investment advisors. The Fund consists of seventy-six operational portfolios, of which thirty (the "Portfolios") are included in this section of the report. The remaining operational portfolios are presented in separate reports. Of the Portfolios, seven invest all of their assets in a corresponding series of The DFA Investment Trust Company ("DFAITC") and one invests in the Dimensional Emerging Markets Value Fund ("DEM"). International Small Company Portfolio invests in five portfolios within DFAITC. DFA Global Real Estate Securities Portfolio invests in two portfolios within the Fund and World ex U.S. Value Portfolio invests in three portfolios within the Fund, DFAITC, and DEM. World ex U.S. Targeted Value Portfolio invests in four portfolios within the Fund, DFAITC, and DEM. World ex U.S. Core Equity Portfolio invests in two portfolios within the Fund. Selectively Hedged Global Equity Portfolio invests in three portfolios within the Fund. PERCENTAGE OWNERSHIP FEEDER FUNDS MASTER FUNDS AT 10/31/13 ------------ ------------ ----------- U.S. Large Cap Value Portfolio The U.S. Large Cap Value Series 80% Japanese Small Company Portfolio The Japanese Small Company Series 18% Asia Pacific Small Company Portfolio The Asia Pacific Small Company Series 26% United Kingdom Small Company Portfolio The United Kingdom Small Company Series 2% Continental Small Company Portfolio The Continental Small Company Series 5% Emerging Markets Portfolio The Emerging Markets Series 98% Emerging Markets Small Cap Portfolio The Emerging Markets Small Cap Series 99% Emerging Markets Value Portfolio Dimensional Emerging Markets Value Fund 99% FUND OF FUNDS ------------- - International Small Company Portfolio The Continental Small Company Series 95% The Japanese Small Company Series 82% The United Kingdom Small Company Series 98% The Asia Pacific Small Company Series 74% The Canadian Small Company Series 98% DFA Global Real Estate Securities Portfolio DFA Real Estate Securities Portfolio 26% DFA International Real Estate Securities Portfolio 39% World ex U.S. Value Portfolio Dimensional Emerging Markets Value Fund -- DFA International Small Cap Value Portfolio -- The DFA International Value Series 1% World ex U.S. Targeted Value Portfolio DFA International Small Cap Value Portfolio 1% Dimensional Emerging Markets Value Fund -- International Vector Equity Portfolio 1% The Emerging Markets Small Cap Series -- World ex U.S. Core Equity Portfolio International Core Equity Portfolio 1% Emerging Markets Core Equity Portfolio -- Selectively Hedged Global Equity Portfolio U.S. Core Equity 2 Portfolio -- International Core Equity Portfolio -- Emerging Markets Core Equity Portfolio -- Amounts designated as -- are less than 1%. 147 Each feeder fund and fund of funds (collectively, "Feeder Funds") invests primarily in a corresponding master fund(s) ("Master Fund") as indicated. International Small Company Portfolio, DFA Global Real Estate Securities Portfolio, World ex U.S. Value Portfolio, World ex U.S. Targeted Value Portfolio, World ex U.S. Core Equity Portfolio, and Selectively Hedged Global Equity Portfolio also invest in short-term temporary cash investments. In addition, World ex U.S. Targeted Value Portfolio, World ex U.S. Core Equity Portfolio, and Selectively Hedged Global Equity Portfolio engages in futures and forward currency contracts. The financial statements of the Master Funds are included elsewhere in this report and should be read in conjunction with the financial statements of the Feeder Funds. Effective February 28, 2009, Enhanced U.S. Large Company Portfolio, U.S. Small Cap Value Portfolio, U.S. Small Cap Portfolio and U.S. Micro Cap Portfolio invest directly in securities rather than through a Master Fund. See the Federal Income Taxes note for more information regarding these transactions. Effective November 1, 2009, Dimensional Emerging Markets Value Fund ("DEM II"), a master fund in a master-feeder structure, elected with the consent of its holder(s) to change its U.S. federal income tax classification from that of an association taxable as a corporation to a partnership pursuant to Treasury Regulation (S)301.7701-3. The change in capital structure and retroactive reclassification of the statement of changes in net assets and financial highlights for DEM II is a result of the treatment of a partnership for book purposes. DEM II will maintain its books and records and present its financial statements in accordance with generally accepted accounting principles for investment partnerships. B. SIGNIFICANT ACCOUNTING POLICIES: The following significant accounting policies are in conformity with accounting principles generally accepted in the United States of America. Such policies are consistently followed by the Fund in preparation of its financial statements. The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the fair value of investments, the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates and those differences could be material. 1. SECURITY VALUATION: The Portfolios utilize a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels described below: . Level 1 - inputs are quoted prices in active markets for identical securities (including equity securities, open-end investment companies, futures contracts) . Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) . Level 3 - significant unobservable inputs (including the Portfolios' own assumptions in determining the fair value of investments) Securities held by Enhanced U.S. Large Company Portfolio, U.S. Large Cap Equity Portfolio, U.S. Targeted Value Portfolio, U.S. Small Cap Value Portfolio, U.S. Core Equity 1 Portfolio, U.S. Core Equity 2 Portfolio, U.S. Vector Equity Portfolio, U.S. Small Cap Portfolio, U.S. Micro Cap Portfolio and DFA Real Estate Securities Portfolio (the "Domestic Equity Portfolios") and Large Cap International Portfolio, International Core Equity Portfolio, DFA International Real Estate Securities Portfolio, DFA International Small Cap Value Portfolio, International Vector Equity Portfolio and Emerging Markets Core Equity Portfolio (the "International Equity Portfolios"), including over-the-counter securities, are valued at the last quoted sale price at the close of the exchanges on which they are principally traded (official closing price). International equity securities are subject to a fair value factor, as described later in this note. Securities held by the Domestic Equity Portfolios and the International Equity Portfolios that are listed on Nasdaq are valued at the Nasdaq Official Closing Price ("NOCP"). If there is no last reported sale price or NOCP for the day, the Domestic Equity Portfolios and the International Equity Portfolios value the securities at the mean of the most recent quoted bid and asked prices which approximate fair value. Price 148 information on listed securities is taken from the exchange where the security is primarily traded. Generally, securities issued by open-end investment companies are valued using their respective net asset values or public offering prices, as appropriate, for purchase orders placed at the close of the New York Stock Exchange (NYSE). These securities are generally categorized as Level 1 in the hierarchy. Securities for which no market quotations are readily available (including restricted securities), or for which market quotations have become unreliable, are valued in good faith at fair value in accordance with procedures adopted by the Board of Directors/Trustees. Fair value pricing may also be used if events that have a significant effect on the value of an investment (as determined in the discretion of the Investment Committee of Dimensional Fund Advisors LP) occur before the net asset value is calculated. When fair value pricing is used, the prices of securities used by the Domestic Equity Portfolios and the International Equity Portfolios may differ from the quoted or published prices for the same securities on their primary markets or exchanges. These securities are generally categorized as Level 2 in the hierarchy. The International Equity Portfolios will also apply a fair value price in the circumstances described below. Generally, trading in foreign securities markets is completed each day at various times prior to the close of the NYSE. For example, trading in the Japanese securities markets is completed each day at the close of the Tokyo Stock Exchange (normally, 11:00 p.m. PT), which is fourteen hours prior to the close of the NYSE (normally, 1:00 p.m. PT) and the time that the net asset values of the International Equity Portfolios are computed. Due to the time differences between the closings of the relevant foreign securities exchanges and the time the International Equity Portfolios price their shares at the close of the NYSE, the International Equity Portfolios will fair value their foreign investments when it is determined that the market quotations for the foreign investments are either unreliable or not readily available. The fair value prices will attempt to reflect the impact of the U.S. financial markets' perceptions and trading activities on the International Equity Portfolios' foreign investments since the last closing prices of the foreign investments were calculated on their primary foreign securities markets or exchanges. For these purposes, the Board of Directors/Trustees of the Fund have determined that movements in relevant indices or other appropriate market indicators, after the close of the Tokyo Stock Exchange or the London Stock Exchange, demonstrate that market quotations may be unreliable. Fair valuation of portfolio securities may occur on a daily basis. The fair value pricing by the International Equity Portfolios utilizes data furnished by an independent pricing service (and that data draws upon, among other information, the market values of foreign investments). When an International Equity Portfolio uses fair value pricing, the values assigned to the International Equity Portfolio's foreign investments may not be the quoted or published prices of the investments on their primary markets or exchanges. These securities are generally categorized as Level 2 in the hierarchy. Debt securities held by Enhanced U.S. Large Company Portfolio, (the "Fixed Income Portfolio"), and International Equity Portfolios, are valued on the basis of evaluated prices provided by one or more pricing services or other reasonably reliable sources including broker/dealers that typically handle the purchase and sale of such securities. Securities which are traded over-the-counter and on a stock exchange generally will be valued according to the broadest and most representative market, and it is expected that for bonds and other fixed income securities, this ordinarily will be the over-the-counter market. Securities for which quotations are not readily available (including restricted securities), or for which market quotations have become unreliable, are valued in good faith at fair value in accordance with procedures adopted by the Board of Directors/Trustees. These valuations are generally categorized as Level 2 in the hierarchy. Listed Derivatives, such as futures, that are actively traded are valued based on quoted prices from the exchange and are categorized as Level 1 in the hierarchy. Over-the-counter derivative contracts, which include forward currency contracts, do not require material subjectivity as pricing inputs are observed from quoted markets and are categorized as Level 2 in the hierarchy. Shares held by the DFA Global Real Estate Securities Portfolio, World ex U.S. Value Portfolio (except The DFA International Value Series), World ex U.S. Targeted Value Portfolio (except The Emerging Markets Small Cap Series), World ex U.S. Core Equity Portfolio and Selectively Hedged Global Equity Portfolio of the Master Funds, which are treated as regulated investment companies, and the shares held by the Portfolios in other investment companies, are valued at their respective daily net asset values as reported by their administrator. The Feeder Funds, International Small Company Portfolio, World ex U.S. Value Portfolio and World ex U.S. Targeted Value 149 Portfolio's investments in Series of DFAITC or DEM reflect their proportionate interest in the net assets of such corresponding Master Fund. These valuations are classified as Level 1 in the hierarchy. Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment's valuation changes. The Portfolios recognize transfers between the levels as of the end of the period. As of October 31, 2013, the Emerging Markets Core Equity Portfolio had significant transfers of securities with a total value of $925,099 (in thousands) that transferred from Level 1 to Level 2. At October 31, 2013, the fair market value of certain securities were adjusted due to developments which occurred between the time of the close of the foreign markets on which they trade and the close of business on the NYSE which resulted in their Level 2 classification. 2. FOREIGN CURRENCY TRANSLATION: Securities and other assets and liabilities of Enhanced U.S. Large Company Portfolio and the International Equity Portfolios whose values are initially expressed in foreign currencies are translated to U.S. dollars using the mean between the most recent bid and asked prices for the U.S. dollar as quoted by generally recognized reliable sources. Dividend and interest income and certain expenses are translated to U.S. dollars at the rate of exchange on their respective accrual dates. Receivables and payables denominated in foreign currencies are marked-to-market daily based on daily exchange rates and exchange gains or losses are realized upon ultimate receipt or disbursement. Enhanced U.S. Large Company Portfolio and Selectively Hedged Global Equity Portfolio also enter into forward currency contracts solely for the purpose of hedging against fluctuations in currency exchange rates. These contracts are marked-to-market daily based on daily forward exchange rates. The International Equity Portfolios do not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of securities whether realized or unrealized. However, Enhanced U.S. Large Company Portfolio does isolate the effect of fluctuations in foreign currency rates when determining the realized gain or loss upon the sale or maturity of foreign currency denominated debt obligations pursuant to U.S. Federal income tax regulations; such amounts are categorized as foreign exchange gain or loss for income tax reporting purposes. Realized gains or losses on foreign currency transactions represent net foreign exchange gains or losses from the disposition of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between amounts of interest, dividends and any foreign withholding taxes recorded on the books of the International Equity Portfolios and Enhanced U.S. Large Company Portfolio and the U.S. dollar equivalent amounts actually received or paid. 3. DEFERRED COMPENSATION PLAN: Each eligible Director/Trustee of the Fund may elect participation in The Fee Deferral Plan for Independent Directors and Trustees (the "Plan"). Under the Plan, effective January 1, 2002, such Directors/Trustees may defer payment of all or a portion of their total fees earned as a Director/Trustee. These deferred amounts may be treated as though such amounts had been invested in shares of the following funds: U.S. Large Cap Value Portfolio; U.S. Core Equity 1 Portfolio; U.S. Core Equity 2 Portfolio; U.S. Vector Equity Portfolio; U.S. Micro Cap Portfolio; DFA International Value Portfolio; International Core Equity Portfolio; Emerging Markets Portfolio; Emerging Markets Core Equity Portfolio; and/or DFA Two-Year Global Fixed Income Portfolio. Contributions made under the Plan and the change in unrealized appreciation (depreciation) and income are included in Directors'/Trustees' Fees & Expenses. Each Director/Trustee has the option to receive their distribution of proceeds in one of the following methods: lump sum; annual installments over a period of agreed upon years; or quarterly installments over a period of agreed upon years. Each Director/Trustee shall have the right in a notice of election (the "Notice") to defer the receipt of the Director's/Trustee's deferred compensation until a date specified by such Director/Trustee in the Notice, which date may not be sooner than the earlier of: (i) the first business day of January following the year in which such Director/Trustee ceases to be a member of the Board; and (ii) five years following the effective date of the Director's/Trustee's first deferral election. If a Director/Trustee who elects to defer fees fails to designate in the Notice a time or date as of which payment of the Director's/Trustee's deferred fee account shall commence, payment of such amount shall commence as of the first business day of January following the year in which the Director/Trustee ceases to be a member of the Board (unless the Director/Trustee files an amended Notice 150 selecting a different distribution date). As of October 31, 2013, none of the Directors/Trustees have requested or received a distribution of proceeds of a deferred fee account. 4. OTHER: Security transactions are accounted for as of the trade date. Costs used in determining realized gains and losses on the sale of investment securities/affiliated investment companies and foreign currency are on the basis of identified cost. Dividend income and distributions to shareholders are recorded on the ex-dividend date. Distributions received on securities and from the investment in affiliated investment companies that represent a return of capital or capital gains are recorded as a reduction of cost of investments or as a realized gain, respectively. The Portfolios estimate the character of distributions received that may be considered return of capital distributions. Interest income is recorded on an accrual basis. Discount and premium on debt securities purchased are amortized over the lives of the respective securities, utilizing the effective interest method. Expenses directly attributable to a Portfolio are directly charged. Common expenses of the Fund or Portfolios are allocated using methods approved by the Board, generally based on average net assets. Class R1 Shares, Class R2 Shares and Institutional Class Shares have equal rights to assets and earnings of a Portfolio. Income, gains and losses, and common expenses of a Portfolio are allocated to each class of shares based on its relative net assets. Each class will bear its own class-specific expenses, if any. U.S. Large Cap Value Portfolio, International Small Company Portfolio, Japanese Small Company Portfolio, Asia Pacific Small Company Portfolio, United Kingdom Small Company Portfolio, Continental Small Company Portfolio, Emerging Markets Portfolio, Emerging Markets Small Cap Portfolio, Emerging Markets Value Portfolio, World ex U.S. Value Portfolio and World ex U.S. Targeted Value Portfolio each recognize their pro-rata share of net investment income and realized and unrealized gains/losses on a daily basis from their respective Master Fund within DFAITC or DEM, which are treated as partnerships for federal income tax purposes. The Portfolios may be subject to taxes imposed by countries in which they invest, with respect to their investments in issuers existing or operating in such countries. Such taxes are generally based on income earned or repatriated and capital gains realized on the sale of such investments. The Portfolios accrue such taxes when the related income or capital gains are earned or throughout the holding period. Some countries require governmental approval for the repatriation of investment income, capital or the proceeds of sales earned by foreign investors. In addition, if there is a deterioration in a country's balance of payments or for other reasons, a country may impose temporary restrictions on foreign capital remittances abroad. Emerging Markets Portfolio, Emerging Markets Small Cap Portfolio, Emerging Markets Value Portfolio and Emerging Markets Core Equity Portfolio are subject to a 15% tax on short-term capital gains for investments in India. Such taxes are due upon sale of individual securities. The capital gains taxes are recognized when the capital gains are earned. C. INVESTMENT ADVISOR AND ADMINISTRATOR: The Advisor, Dimensional Fund Advisors LP, provides investment advisory services to all Portfolios. The Advisor receives no additional compensation for the investment advisory services it provides to the Feeder Funds. The Advisor provides administrative services to the Feeder Funds, including supervision of services provided by others, providing information to shareholders and the Board, and other administrative services. For the year ended October 31, 2013, the Portfolios' investment advisory services fees were accrued daily and paid monthly to the Advisor based on the following effective annual rates of average daily net assets: Enhanced U.S. Large Company Portfolio*. 0.05% U.S. Large Cap Equity Portfolio........ 0.15% U.S. Targeted Value Portfolio*......... 0.10% U.S. Small Cap Value Portfolio*........ 0.20% U.S. Core Equity 1 Portfolio........... 0.17% U.S. Core Equity 2 Portfolio........... 0.20% U.S. Vector Equity Portfolio........... 0.30% U.S. Small Cap Portfolio*.............. 0.03% 151 U.S. Micro Cap Portfolio*.......................... 0.10% DFA Real Estate Securities Portfolio............... 0.17% Large Cap International Portfolio.................. 0.25% International Core Equity Portfolio................ 0.35% DFA International Real Estate Securities Portfolio. 0.35% DFA Global Real Estate Securities Portfolio........ 0.27% DFA International Small Cap Value Portfolio........ 0.65% International Vector Equity Portfolio.............. 0.45% World ex U.S. Value Portfolio...................... 0.47% World ex U.S. Targeted Value Portfolio............. 0.58% World ex U.S. Core Equity Portfolio................ 0.40% Selectively Hedged Global Equity Portfolio......... 0.30% Emerging Markets Core Equity Portfolio............. 0.55% For the year ended October 31, 2013, the Feeder Funds' and the Enhanced U.S. Large Company Portfolio, U.S. Targeted Value Portfolio, U.S. Small Cap Value Portfolio, U.S. Small Cap Portfolio and U.S. Micro Cap Portfolio's administrative services fees were accrued daily and paid monthly to the Advisor based on the following effective annual rates of average daily net assets: Enhanced U.S. Large Company Portfolio*. 0.15% U.S. Large Cap Value Portfolio......... 0.15% U.S. Targeted Value Portfolio*......... 0.25% U.S. Small Cap Value Portfolio*........ 0.30% U.S. Small Cap Portfolio*.............. 0.32% U.S. Micro Cap Portfolio*.............. 0.40% International Small Company Portfolio.. 0.40% Japanese Small Company Portfolio....... 0.40% Asia Pacific Small Company Portfolio... 0.40% United Kingdom Small Company Portfolio. 0.40% Continental Small Company Portfolio.... 0.40% Emerging Markets Portfolio............. 0.40% Emerging Markets Small Cap Portfolio... 0.45% Emerging Markets Value Portfolio....... 0.40% * February 28, 2009, Enhanced U.S. Large Company Portfolio, U.S. Small Cap Value Portfolio, U.S. Small Cap Portfolio and U.S. Micro Cap Portfolio no longer invest substantially all of their assets in their respective Series. Instead, the Portfolios' assets are managed directly in accordance with the Portfolios' investment objectives and strategies, pursuant to an investment management agreement between the Fund, on behalf of the Portfolios, and Dimensional, which previously was the manager of the Series' assets. The investment advisory fee paid by the Portfolios are identical to the advisory fee that was charged to the Series. Pursuant to an Amended and Restated Fee Waiver and/or Expense Assumption Agreement (the "Fee Waiver Agreement"), the Advisor has contractually agreed to waive certain fees, including administration/advisory fees, and in certain instances, assume certain expenses of the Portfolios, as described in the notes below. The Fee Waiver Agreement for the Portfolios below will remain in effect through February 28, 2014 (except for the U.S. Large Cap Equity Portfolio which will remain in effect through February 28, 2015), and shall continue in effect from year to year thereafter unless terminated by the Fund or the Advisor. For the year ended October 31, 2013, the Portfolios had expense limits based on a percentage of average net assets on an annualized basis, and the Advisor recovered previously waived fees and/or expenses assumed as listed below (amounts in thousands). Previously waived fees subject to future recovery by the Advisor are also reflected below (amounts in thousands). The Fund, on behalf of the Portfolios, is not obligated to reimburse the Advisor for fees previously waived or expenses previously assumed by the Advisor more than thirty-six months before the date of recovery. 152 PREVIOUSLY RECOVERY WAIVED FEES/ EXPENSE OF PREVIOUSLY EXPENSES ASSUMED LIMITATION WAIVED FEES/ SUBJECT TO FUTURE INSTITUTIONAL CLASS SHARES AMOUNT EXPENSES ASSUMED RECOVERY -------------------------- ---------- ---------------- ----------------- U.S. Large Cap Equity Portfolio (1).................... 0.19% -- $ 24 U.S. Targeted Value Portfolio (2)...................... 0.50% -- -- U.S. Core Equity 1 Portfolio (3)....................... 0.23% -- -- U.S. Core Equity 2 Portfolio (3)....................... 0.26% -- -- U.S. Vector Equity Portfolio (3)....................... 0.36% -- -- DFA Real Estate Securities Portfolio (3)............... 0.18% -- 842 International Core Equity Portfolio (3)................ 0.49% -- -- International Small Company Portfolio (4).............. 0.45% -- -- Japanese Small Company Portfolio (5)................... 0.47% -- -- Asia Pacific Small Company Portfolio (5)............... 0.47% -- -- United Kingdom Small Company Portfolio (5)............. 0.47% -- 32 Continental Small Company Portfolio (5)................ 0.47% -- -- DFA International Real Estate Securities Portfolio (3). 0.65% -- -- DFA Global Real Estate Securities Portfolio (6)........ 0.32% -- 9,145 International Vector Equity Portfolio (3).............. 0.60% -- -- World ex U.S. Value Portfolio (7)...................... 0.60% $ 8 411 World ex U.S. Targeted Value Portfolio (8)............. 0.80% -- 270 World ex U.S. Core Equity Portfolio (9)................ 0.47% -- 170 Selectively Hedged Global Equity Portfolio (10)........ 0.40% 1 367 Emerging Markets Core Equity Portfolio (3)............. 0.85% -- -- CLASS R1 SHARES --------------- U.S. Targeted Value Portfolio (2)...................... 0.62% -- -- CLASS R2 SHARES --------------- U.S. Targeted Value Portfolio (2)...................... 0.77% -- -- Emerging Markets Value Portfolio (11).................. 0.96% -- -- (1) The Advisor has contractually agreed to waive all or a portion of its management fee and assume the ordinary operating expenses of a class of the Portfolio (excluding the expenses that the Portfolio incurs indirectly through its investment in other investment companies and excluding any applicable 12b-1 fees) ("Portfolio Expenses") to the extent necessary to limit the Portfolio Expenses of a class of the Portfolio to the rate listed above as a percentage of average net assets on an annualized basis (the "Expense Limitation Amount"). The Fee Waiver and Expense Assumption Agreement for the Portfolio will remain in effect through February 28, 2015, and may only be terminated by the Fund's Board of Directors prior to that date. At any time that the Portfolio's annualized Portfolio Expenses are less than the Portfolio's Expense Limitation Amount, described above, the Advisor retains the right to seek reimbursement for any fees previously waived and/or expenses previously assumed to the extent that such reimbursement will not cause the annualized Portfolio Expenses of a class of the Portfolio to exceed the Expense Limitation Amount, as listed above. (2) The Advisor has contractually agreed to waive its administration fee and advisory fee and to assume the Portfolio's expenses (excluding the expenses the Portfolio incurs indirectly through investment in other investment companies and excluding any applicable 12b-1 fees) ("Portfolio Expenses") to the extent necessary to limit the Portfolio Expenses of a class of shares of the Portfolio to the rate listed above for such class of shares as a percentage of average net assets on an annualized basis (the "Expense Limitation Amount"). At any time that the Portfolio Expenses of a class of shares of the Portfolio are less than the Expense Limitation Amount listed above for such class of shares, the Advisor retains the right to recover any fees previously waived and/or expenses previously assumed to the extent that such recovery will not cause the Portfolio's annualized Portfolio Expenses for such class of shares to exceed the Expense Limitation Amount, as listed above. 153 (3) The Advisor has contractually agreed to waive all or a portion of its advisory fee and assume each Portfolio's ordinary operating expenses (excluding the expenses a Portfolio incurs indirectly through investment in other investment companies and excluding any applicable 12b-1 fees) ("Portfolio Expenses") to the extent necessary to limit the Portfolio Expenses of each Portfolio to the rates listed above as a percentage of average net assets on an annualized basis (the "Expense Limitation Amount"). At any time that the Portfolio Expenses of a Portfolio are less than the Expense Limitation Amount listed above for such Portfolio, the Advisor retains the right to recover any fees previously waived and/or expenses previously assumed to the extent that such recovery will not cause the Portfolio's annualized Portfolio Expenses to exceed the Expense Limitation Amount, as listed above. (4) The Advisor has contractually agreed to waive its administration fee and to assume the other direct expenses of the Portfolio (excluding expenses incurred through its investment in other investment companies and excluding any applicable 12b-1 fees) ("Portfolio Expenses") to the extent necessary to limit the Portfolio Expenses of the Portfolio, on an annualized basis, to the rate listed above as a percentage of average net assets (the "Expense Limitation Amount"). At any time that the Portfolio Expenses of the Portfolio are less than the Expense Limitation Amount listed above, the Advisor retains the right to seek reimbursement for any fees previously waived and/or expenses previously assumed to the extent that the amount of such reimbursement will not cause the annualized Portfolio Expenses of the Portfolio to exceed the applicable Expense Limitation Amount, as listed above. (5) The Advisor has contractually agreed to waive its administration fee and to assume each Portfolio's other direct expenses to the extent necessary to limit the direct expenses of each Portfolio to the rates listed above as a percentage of average net assets on an annualized basis (the "Expense Limitation Amount"). The Fee Waiver Agreement does not include the indirect expenses each Portfolio bears as a shareholder of its Master Fund(s). At any time that the direct expenses of a Portfolio are less than the Expense Limitation Amount listed above, the Advisor retains the right to recover any fees previously waived and/or expenses previously assumed to the extent that such recovery will not cause the Portfolio's direct expenses to exceed the Expense Limitation Amount, as listed above. (6) Effective February 28, 2012, the Advisor has contractually agreed to waive all or a portion of its advisory fee and to assume the expenses of the Portfolio (including the expenses that the Portfolio bears as a shareholder of other funds managed by the Advisor but excluding the expenses that the Portfolio incurs indirectly through its investment in unaffiliated investment companies and excluding any applicable 12b-1 fees) ("Portfolio Expenses") to the extent necessary to limit the Portfolio Expenses of the Portfolio to the rate listed above as a percentage of average net assets on an annualized basis (the "Expense Limitation Amount"). At any time that the Portfolio Expenses of the Portfolio are less than the Expense Limitation Amount listed above, the Advisor retains the right to recover any fees previously waived and/or expenses previously assumed to the extent that such recovery will not cause the Portfolio's annualized Portfolio Expenses to exceed the Expense Limitation Amount, as listed above. Prior to February 28, 2012, the Advisor contractually agreed to waive all or a portion of its advisory fee and to assume the expenses of the Portfolio (including the expenses that the Portfolio bears as a shareholder of other investment companies managed by the Advisor but excluding the expenses that the Portfolio incurs indirectly through its investment in unaffiliated investment companies) ("Portfolio Expenses") to the extent necessary to limit the Portfolio Expenses of the Portfolio to 0.55% of average net assets on an annualized basis. At any time that the annualized Portfolio Expenses of the Portfolio were less than 0.55% of average net assets on an annualized basis, the Advisor retained the right to recover any fees previously waived and/or expenses previously assumed to the extent that such recovery did not cause the Portfolio's annualized Portfolio Expenses to exceed the Expense Limitation Amount then in effect. The Advisor voluntarily agreed to waive all or a portion of its advisory fee to the extent necessary to limit the total advisory fees paid by the Portfolio to the Advisor directly and indirectly (the proportionate share of the advisory fees paid by the Portfolio through its investment in other funds managed by the Advisor) to 0.35% of the Portfolio's average net assets on an annualized basis. (7) The Advisor has contractually agreed to waive up to the full amount of the Portfolio's advisory fee of 0.47% to the extent necessary to offset the proportionate share of the advisory fees paid by the Portfolio through its investment in its Master Funds. In addition, under the Fee Waiver Agreement, the Advisor also has agreed to waive all or a portion of the advisory fee that remains payable by the Portfolio (i.e. the advisory fee remaining after the 154 proportionate share of the Master Funds' advisory services fees have been offset (the "Remaining Management Fee")) to the extent necessary to reduce the Portfolio's ordinary operating expenses (including expenses incurred through its investment in other investment companies but excluding any applicable 12b-1 fees) ("Portfolio Expenses") so that such Portfolio Expenses do not exceed the rate listed above as a percentage of average net assets on an annualized basis (the "Expense Limitation Amount"). The maximum amount that may be waived to limit Portfolio Expenses is the amount of the Remaining Management Fee. Further, at any time that the Portfolio Expenses of the Portfolio are less than the Portfolio's Expense Limitation Amount listed above, the Advisor retains the right to seek reimbursement for any fees previously waived and/or expenses previously assumed to the extent that such reimbursement will not cause the Portfolio's annualized Portfolio Expenses to exceed the Portfolio's Expense Limitation Amount, as listed above. (8) The Advisor has contractually agreed to waive up to the full amount of the Portfolio's advisory fee of 0.58% to the extent necessary to offset the proportionate share of the advisory fees paid by the Portfolio through its investment in its Master Funds. In addition, under the Fee Waiver Agreement, the Advisor has also agreed to waive all or a portion of the advisory fee and to assume the ordinary operating expenses of a class of the Portfolio (including expenses incurred through its investment in other investment companies but excluding any applicable 12b-1 fees) ("Portfolio Expenses") to the extent necessary to limit the Portfolio Expenses of a class of the Portfolio to the rate listed above as a percentage of the average net assets of a class of the Portfolio on an annualized basis (the "Expense Limitation Amount"). At any time that the Portfolio Expenses of a class of the Portfolio are less than the Expense Limitation Amount for such class of the Portfolio listed above, the Advisor retains the right to seek reimbursement for any fees previously waived and/or expenses previously assumed to the extent that such reimbursement will not cause the annualized Portfolio Expenses for such class of shares of the Portfolio to exceed the Expense Limitation Amount, as listed above. (9) The Advisor has contractually agreed to waive all or a portion of its advisory fee and to assume the expenses of a class of the Portfolio (including the expenses that the Portfolio bears as a shareholder of its Master Funds but excluding the expenses that the Portfolio incurs indirectly through its investment in unaffiliated investment companies and excluding any applicable 12b-1 fees) ("Portfolio Expenses") to the extent necessary to limit the Portfolio Expenses of a class of the Portfolio to the rate listed as a percentage of average net assets on an annualized basis (the "Expense Limitation Amount"). At any time that the Portfolio Expenses of a class of the Portfolio are less than the Expense Limitation Amount for such class of the Portfolio listed above, the Advisor retains the right to seek reimbursement for any fees previously waived and/or expenses previously assumed to the extent that such reimbursement will not cause the annualized Portfolio Expenses for such class of shares of the Portfolio to exceed the Expense Limitation Amount, as listed above. (10) The Advisor has contractually agreed to waive up to the full amount of the Portfolio's management fee of 0.30% to the extent necessary to offset the proportionate share of the management fees paid by the Portfolio through its investment in its Master Funds. In addition, under the Fee Waiver and Expense Assumption Agreement, the Advisor has also agreed to waive all or a portion of the management fee and to assume the ordinary operating expenses of a class of the Portfolio (including expenses incurred through its investment in other investment companies but excluding any applicable 12b-1 fees) ("Portfolio Expenses") to the extent necessary to limit the Portfolio Expenses of a class of the Portfolio to the rate listed above as a percentage of average net assets of a class of the Portfolio on an annualized basis (the "Expense Limitation Amount"). At any time that the Portfolio Expenses of a class of the Portfolio are less than the Expense Limitation Amount for such class of the Portfolio listed above, the Advisor retains the right to seek reimbursement for any fees previously waived and/or expenses previously assumed to the extent that such reimbursement will not cause the annualized Portfolio Expenses for such class of shares of the Portfolio to exceed the Expense Limitation Amount, as listed above. (11) The Advisor has contractually agreed to assume the Portfolio's direct expenses (excluding management fees and custodian fees, and excluding any applicable 12b-1 fees) to the extent necessary to limit the expenses (excluding the expenses the Portfolio incurs indirectly through investment in other investment companies) ("Portfolio Expenses") of the Class R2 shares to the rate listed above as a percentage of average net assets on an annualized basis (the "Expense Limitation Amount"). At any time that the Portfolio Expenses of the Portfolio are less than the Expense Limitation Amount listed above, the Advisor retains the right to recover any fees previously 155 waived and/or expenses previously assumed to the extent that such recovery will not cause the Portfolio's annualized Portfolio Expenses to exceed the Expense Limitation Amount, as listed above. EARNED INCOME CREDIT: In addition, the Portfolios have entered into arrangements with their custodian whereby net interest earned on uninvested cash balances was used to reduce a portion of the Portfolios' custody expenses. Custody expense in the accompanying financial statements is presented before reduction for credits. During the year ended October 31, 2013, expenses reduced were as follows (amounts in thousands): FEES PAID INDIRECTLY ---------- Enhanced U.S. Large Company Portfolio.............. $ 4 Large Cap International Portfolio.................. 9 International Core Equity Portfolio................ 31 International Small Company Portfolio.............. -- DFA International Real Estate Securities Portfolio. 18 DFA International Small Cap Value Portfolio........ 23 International Vector Equity Portfolio.............. 5 World ex U.S. Value Portfolio...................... -- World ex U.S. Targeted Value Portfolio............. -- World ex U.S. Core Equity Portfolio................ -- Selectively Hedged Global Equity Portfolio......... -- Emerging Markets Core Equity Portfolio............. 167 FEES PAID TO OFFICERS AND DIRECTORS/TRUSTEES: Certain Officers and Directors/Trustees of the Advisor are also Officers and Directors/Trustees of the Fund; however, such Officers and Directors/Trustees (with the exception of the Chief Compliance Officer ("CCO")) receive no compensation from the Fund. For the year ended October 31, 2013, the total related amounts paid by the Fund to the CCO were $250 (in thousands). The total related amounts paid by each of the Portfolios are included in Other Expenses on the Statement of Operations. D. DEFERRED COMPENSATION: At October 31, 2013, the total liability for deferred compensation to Directors/Trustees is included in Accrued Expenses and Other Liabilities on the Statement of Assets and Liabilities as follows (amounts in thousands): Enhanced U.S. Large Company Portfolio. $ 7 U.S. Large Cap Equity Portfolio....... -- U.S. Large Cap Value Portfolio........ 263 U.S. Targeted Value Portfolio......... 74 U.S. Small Cap Value Portfolio........ 248 U.S. Core Equity 1 Portfolio.......... 108 U.S. Core Equity 2 Portfolio.......... 178 U.S. Vector Equity Portfolio.......... 55 U.S. Small Cap Portfolio.............. 123 U.S. Micro Cap Portfolio.............. 125 DFA Real Estate Securities Portfolio.. 94 Large Cap International Portfolio..... 61 International Core Equity Portfolio... 165 International Small Company Portfolio. 184 Japanese Small Company Portfolio...... 7 Asia Pacific Small Company Portfolio.. 5 156 United Kingdom Small Company Portfolio............. $ 1 Continental Small Company Portfolio................ 4 DFA International Real Estate Securities Portfolio. 33 DFA Global Real Estate Securities Portfolio........ 22 DFA International Small Cap Value Portfolio........ 276 International Vector Equity Portfolio.............. 13 World ex U.S. Value Portfolio...................... 1 World ex U.S. Targeted Value Portfolio............. -- World ex U.S. Core Equity Portfolio................ -- Selectively Hedged Global Equity Portfolio......... -- Emerging Markets Portfolio......................... 84 Emerging Markets Small Cap Portfolio............... 58 Emerging Markets Value Portfolio................... 353 Emerging Markets Core Equity Portfolio............. 153 E. PURCHASES AND SALES OF SECURITIES: For the year ended October 31, 2013, the Portfolios made the following purchases and sales of investment securities, other than short-term securities (amounts in thousands): U.S. GOVERNMENT OTHER INVESTMENT SECURITIES SECURITIES ----------------- --------------------- PURCHASES SALES PURCHASES SALES --------- ------- ---------- ---------- Enhanced U.S. Large Company Portfolio.............. $151,334 $44,551 $ 153,335 $ 208,659 U.S. Large Cap Equity Portfolio.................... -- -- 123,827 341 U.S. Targeted Value Portfolio...................... -- -- 673,167 582,344 U.S. Small Cap Value Portfolio..................... -- -- 1,129,770 1,149,875 U.S. Core Equity 1 Portfolio....................... -- -- 1,216,828 65,417 U.S. Core Equity 2 Portfolio....................... -- -- 1,058,546 208,354 U.S. Vector Equity Portfolio....................... -- -- 277,739 84,963 U.S. Small Cap Portfolio........................... -- -- 1,734,923 561,016 U.S. Micro Cap Portfolio........................... -- -- 496,354 457,111 DFA Real Estate Securities Portfolio............... -- -- 767,339 51,303 Large Cap International Portfolio.................. -- -- 365,229 125,888 International Core Equity Portfolio................ -- -- 1,508,927 246,598 DFA International Real Estate Securities Portfolio. -- -- 615,805 83,893 DFA International Small Cap Value Portfolio........ -- -- 926,091 901,431 International Vector Equity Portfolio.............. -- -- 371,084 14,367 Emerging Markets Core Equity Portfolio............. -- -- 3,914,246 113,118 For the year ended October 31, 2013, the Fund of Funds made the following purchases and sales of Affiliated Investment Companies (amounts in thousands): DFA GLOBAL REAL ESTATE SECURITIES PORTFOLIO ----------------------------------------------------------------- BALANCE AT BALANCE AT DIVIDEND DISTRIBUTIONS OF AFFILIATED INVESTMENT COMPANIES 10/31/2012 10/31/2013 PURCHASES SALES INCOME REALIZED GAINS ------------------------------- ---------- ---------- --------- ------- -------- ---------------- DFA Real Estate Securities Portfolio....................... $777,963 $1,235,206 $419,586 $21,153 $22,778 -- DFA International Real Estate Securities Portfolio............ 531,474 842,644 341,749 27,985 62,476 -- WORLD EX U.S. VALUE PORTFOLIO ----------------------------------------------------------------- BALANCE AT BALANCE AT DIVIDEND DISTRIBUTIONS OF AFFILIATED INVESTMENT COMPANIES 10/31/2012 10/31/2013 PURCHASES SALES INCOME REALIZED GAINS ------------------------------- ---------- ---------- --------- ------- -------- ---------------- DFA International Small Cap Value Portfolio....................... $ 4,703 $ 10,626 $ 4,213 $ 453 $ 139 $64 157 WORLD EX U.S. TARGETED VALUE PORTFOLIO (A) ---------------------------------------------------------------- BALANCE AT BALANCE AT DIVIDEND DISTRIBUTIONS OF AFFILIATED INVESTMENT COMPANIES 10/31/2012 10/31/2013 PURCHASES SALES INCOME REALIZED GAINS ------------------------------- ---------- ---------- --------- ------ -------- ---------------- DFA International Small Cap Value Portfolio........................... -- $59,508 $49,813 $ 971 $635 $184 International Vector Equity Portfolio. -- 8,639 7,534 108 118 7 WORLD EX U.S. CORE EQUITY PORTFOLIO (B) ---------------------------------------------------------------- BALANCE AT BALANCE AT DIVIDEND DISTRIBUTIONS OF AFFILIATED INVESTMENT COMPANIES 10/31/2012 10/31/2013 PURCHASES SALES INCOME REALIZED GAINS ------------------------------- ---------- ---------- --------- ------ -------- ---------------- International Core Equity Portfolio... -- $99,732 $93,693 $3,599 $918 $ -- Emerging Markets Core Equity Portfolio........................... -- 29,703 29,851 2,199 257 -- SELECTIVELY HEDGED GLOBAL EQUITY PORTFOLIO ---------------------------------------------------------------- BALANCE AT BALANCE AT DIVIDEND DISTRIBUTIONS OF AFFILIATED INVESTMENT COMPANIES 10/31/2012 10/31/2013 PURCHASES SALES INCOME REALIZED GAINS ------------------------------- ---------- ---------- --------- ------ -------- ---------------- U.S. Core Equity 2 Portfolio.......... $14,297 $37,594 $17,321 $1,223 $429 $115 International Core Equity Portfolio... 12,942 34,847 17,035 385 694 -- Emerging Markets Core Equity Portfolio........................... 6,554 15,187 9,122 771 228 -- (a)The Portfolio commenced operations on November 1, 2012. (b)The Portfolio commenced operations on April 9, 2013. F. FEDERAL INCOME TAXES: Each Portfolio has qualified and intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code for federal income tax purposes and to distribute substantially all of its taxable income and net capital gains to its shareholders. Accordingly, no provision has been made for federal income taxes. Distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from those amounts determined under accounting principles generally accepted in the United States of America. These book/tax differences are either temporary or permanent in nature. To the extent these differences are permanent, they are charged or credited to paid-in capital, undistributed net investment income or accumulated net realized gains or losses, as appropriate, in the period that the differences arise. Accordingly, the following permanent differences as of October 31, 2013, primarily attributable to realized gains on securities considered to be "passive foreign investment companies", non-deductible expenses, realized foreign capital gains tax, tax-equalization, non-deductible 90 day stock issuance cost, net foreign currency gains/losses, the utilization of accumulated earnings and profits distributed to shareholders on redemptions of shares as part of the dividends paid deduction for income tax purposes, distributions received from real estate investment trusts, expiration of capital loss carryovers and distribution redesignations, were reclassified to the following accounts. These reclassifications had no effect on net assets or net asset value per share (amounts in thousands): INCREASE INCREASE (DECREASE) (DECREASE) INCREASE UNDISTRIBUTED ACCUMULATED (DECREASE) NET INVESTMENT NET REALIZED PAID-IN CAPITAL INCOME GAINS (LOSSES) --------------- -------------- -------------- Enhanced U.S. Large Company Portfolio. $(41) $(1,482) $1,523 U.S. Large Cap Equity Portfolio....... (11) 11 -- U.S. Large Cap Value Portfolio........ -- -- -- 158 INCREASE INCREASE (DECREASE) (DECREASE) INCREASE UNDISTRIBUTED ACCUMULATED (DECREASE) NET INVESTMENT NET REALIZED PAID-IN CAPITAL INCOME GAINS (LOSSES) --------------- -------------- -------------- U.S. Targeted Value Portfolio...................... $32,363 $ (3,552) $(28,811) U.S. Small Cap Value Portfolio..................... 30,865 (6,020) (24,845) U.S. Core Equity 1 Portfolio....................... -- 73 (73) U.S. Core Equity 2 Portfolio....................... 7,427 (4,267) (3,160) U.S. Vector Equity Portfolio....................... 3,066 (1,370) (1,696) U.S. Small Cap Portfolio........................... 14,889 (3,327) (11,562) U.S. Micro Cap Portfolio........................... 13,457 (2,061) (11,396) DFA Real Estate Securities Portfolio............... 92 8,126 (8,218) Large Cap International Portfolio.................. -- (48) 48 International Core Equity Portfolio................ -- (1,269) 1,269 International Small Company Portfolio.............. 19,041 2,378 (21,419) Japanese Small Company Portfolio................... (3,055) 1,185 1,870 Asia Pacific Small Company Portfolio............... -- 1,717 (1,717) United Kingdom Small Company Portfolio............. -- -- -- Continental Small Company Portfolio................ -- 11 (11) DFA International Real Estate Securities Portfolio. -- 7,155 (7,155) DFA Global Real Estate Securities Portfolio........ -- -- -- DFA International Small Cap Value Portfolio........ 20,991 (9,402) (11,589) International Vector Equity Portfolio.............. 640 (330) (310) World ex U.S. Value Portfolio...................... -- 5 (5) World ex U.S. Targeted Value Portfolio............. 39 (1) (38) World ex U.S. Core Equity Portfolio................ (9) 10 (1) Selectively Hedged Global Equity Portfolio......... -- 237 (237) Emerging Markets Portfolio......................... 4,120 (3,230) (890) Emerging Markets Small Cap Portfolio............... -- (74) 74 Emerging Markets Value Portfolio................... 30,746 (10,346) (20,400) Emerging Markets Core Equity Portfolio............. -- (1,813) 1,813 The tax character of dividends and distributions declared and paid during the years ended October 31, 2012 and October 31, 2013 were as follows (amounts in thousands): NET INVESTMENT INCOME AND SHORT-TERM LONG-TERM CAPITAL GAINS CAPITAL GAINS TOTAL -------------- ------------- -------- Enhanced U.S. Large Company Portfolio 2012.................................. $ 2,785 $ 2,785 2013.................................. 1,597 -- 1,597 U.S. Large Cap Equity Portfolio 2013.................................. 321 -- 321 U.S. Large Cap Value Portfolio 2012.................................. 150,153 150,153 2013.................................. 180,943 -- 180,943 U.S. Targeted Value Portfolio 2012.................................. 27,304 $ 31,976 59,280 2013.................................. 55,372 162,209 217,581 U.S. Small Cap Value Portfolio 2012.................................. 56,139 122,752 178,891 2013.................................. 112,970 380,218 493,188 159 NET INVESTMENT INCOME AND SHORT-TERM LONG-TERM CAPITAL GAINS CAPITAL GAINS TOTAL -------------- ------------- -------- U.S. Core Equity 1 Portfolio 2012............................................... $ 76,278 $ 76,278 2013............................................... 105,633 -- 105,633 U.S. Core Equity 2 Portfolio 2012............................................... 103,512 $ 2,008 105,520 2013............................................... 143,640 55,772 199,412 U.S. Vector Equity Portfolio 2012............................................... 29,237 337 29,574 2013............................................... 34,959 3,507 38,466 U.S. Small Cap Portfolio 2012............................................... 44,580 14,276 58,856 2013............................................... 83,270 228,671 311,941 U.S. Micro Cap Portfolio 2012............................................... 33,018 14,720 47,738 2013............................................... 46,915 176,365 223,280 DFA Real Estate Securities Portfolio 2012............................................... 103,653 103,653 2013............................................... 102,731 -- 102,731 Large Cap International Portfolio 2012............................................... 60,808 60,808 2013............................................... 70,787 -- 70,787 International Core Equity Portfolio 2012............................................... 179,492 179,492 2013............................................... 214,687 -- 214,687 International Small Company Portfolio 2012............................................... 169,495 110,049 279,544 2013............................................... 159,066 39,012 198,078 Japanese Small Company Portfolio 2012............................................... 4,541 4,541 2013............................................... 2,836 -- 2,836 Asia Pacific Small Company Portfolio 2012............................................... 9,333 9,333 2013............................................... 7,603 -- 7,603 United Kingdom Small Company Portfolio 2012............................................... 992 992 2013............................................... 953 -- 953 Continental Small Company Portfolio 2012............................................... 2,958 2,958 2013............................................... 2,834 -- 2,834 DFA International Real Estate Securities Portfolio 2012............................................... 60,194 60,194 2013............................................... 181,848 -- 181,848 DFA Global Real Estate Securities Portfolio 2012............................................... 26,050 26,050 2013............................................... 84,341 -- 84,341 DFA International Small Cap Value Portfolio 2012............................................... 206,370 131,063 337,433 2013............................................... 198,381 117,102 315,483 160 NET INVESTMENT INCOME AND SHORT-TERM LONG-TERM CAPITAL GAINS CAPITAL GAINS TOTAL -------------- ------------- -------- International Vector Equity Portfolio 2012....................................... $ 14,733 $ 6,546 $ 21,279 2013....................................... 17,456 2,044 19,500 World ex U.S. Value Portfolio 2012....................................... 1,438 1,438 2013....................................... 2,334 -- 2,334 World ex U.S. Targeted Value Portfolio 2013....................................... 993 -- 993 World ex U.S. Core Equity Portfolio 2013....................................... 1,171 -- 1,171 Selectively Hedged Global Equity Portfolio 2012....................................... 534 534 2013....................................... 373 56 429 Emerging Markets Portfolio 2012....................................... 51,664 91,664 143,328 2013....................................... 59,866 30,527 90,393 Emerging Markets Small Cap Portfolio 2012....................................... 42,163 40,014 82,177 2013....................................... 71,149 92,100 163,249 Emerging Markets Value Portfolio 2012....................................... 300,146 202,987 503,133 2013....................................... 357,501 344,531 702,032 Emerging Markets Core Equity Portfolio 2012....................................... 143,349 143,349 2013....................................... 205,400 -- 205,400 U.S. Large Cap Equity Portfolio commenced operations on June 25, 2013 and did not pay any distributions for the year ended October 31, 2012. World ex U.S. Targeted Value Portfolio commenced operations on November 1, 2012 and did not pay any distributions for the year ended October 31, 2012. World ex U.S. Core Equity Portfolio commenced operations on April 9, 2013 and did not pay any distributions for the year ended October 31, 2012. At October 31, 2013, the following net investment income and short-term capital gains and long-term capital gains distributions designated for federal income tax purposes are due to the utilization of accumulated earnings and profits distributed to shareholders upon redemption of shares (amounts in thousands): NET INVESTMENT INCOME AND SHORT-TERM LONG-TERM CAPITAL GAINS CAPITAL GAINS TOTAL -------------- ------------- ------- Enhanced U.S. Large Company Portfolio....... -- -- -- U.S. Large Cap Equity Portfolio............. -- -- -- U.S. Large Cap Value Portfolio.............. -- -- -- U.S. Targeted Value Portfolio............... $ 6,274 $26,089 $32,363 U.S. Small Cap Value Portfolio.............. 6,218 24,617 30,865 U.S. Core Equity 1 Portfolio................ -- -- -- U.S. Core Equity 2 Portfolio................ 4,443 2,984 7,427 U.S. Vector Equity Portfolio................ 1,506 1,560 3,066 U.S. Small Cap Portfolio.................... 4,483 10,405 14,888 U.S. Micro Cap Portfolio.................... 3,060 10,398 13,458 International Small Company Portfolio....... 10,055 8,986 19,041 DFA International Small Cap Value Portfolio. 14,657 6,334 20,991 161 NET INVESTMENT INCOME AND SHORT-TERM LONG-TERM CAPITAL GAINS CAPITAL GAINS TOTAL -------------- ------------- ------- International Vector Equity Portfolio.. $ 473 $ 167 $ 640 World ex U.S. Targeted Value Portfolio. 26 26 52 Emerging Markets Portfolio............. 3,106 1,014 4,120 Emerging Markets Value Portfolio....... 18,634 12,112 30,746 At October 31, 2013, the components of distributable earnings (accumulated losses) were as follows (amounts in thousands): UNDISTRIBUTED TOTAL NET NET INVESTMENT DISTRIBUTABLE INCOME AND UNDISTRIBUTED UNREALIZED EARNINGS SHORT-TERM LONG-TERM CAPITAL LOSS APPRECIATION (ACCUMULATED CAPITAL GAINS CAPITAL GAINS CARRYFOWARD (DEPRECIATION) LOSSES) -------------- ------------- ------------ -------------- ------------- Enhanced U.S. Large Company Portfolio....... -- -- $ (1,059) $ 3,933 $ 2,874 U.S. Large Cap Equity Portfolio............. $ 317 -- -- 10,560 10,877 U.S. Large Cap Value Portfolio.............. 28,647 -- (512,898) 4,225,900 3,741,649 U.S. Targeted Value Portfolio............... 17,027 $237,247 -- 1,330,412 1,584,686 U.S. Small Cap Value Portfolio.............. 18,970 443,687 -- 2,850,347 3,313,004 U.S. Core Equity 1 Portfolio................ 15,136 34,837 -- 2,298,101 2,348,074 U.S. Core Equity 2 Portfolio................ 19,964 98,716 -- 3,166,130 3,284,810 U.S. Vector Equity Portfolio................ 5,402 38,796 -- 926,605 970,803 U.S. Small Cap Portfolio.................... 25,516 218,763 -- 2,182,172 2,426,451 U.S. Micro Cap Portfolio.................... 17,211 200,725 -- 1,610,873 1,828,809 DFA Real Estate Securities Portfolio........ 32,487 -- (179,405) 1,274,703 1,127,785 Large Cap International Portfolio........... 9,261 -- (212,195) 612,594 409,660 International Core Equity Portfolio......... 41,670 -- (113,295) 1,437,552 1,367,061 International Small Company Portfolio....... 118,814 211,281 -- 1,566,261 1,896,356 Japanese Small Company Portfolio............ 11,490 -- (66,522) 16,667 (38,365) Asia Pacific Small Company Portfolio........ 11,406 -- (26,597) 24,537 9,346 United Kingdom Small Company Portfolio...... 447 406 -- 13,794 14,647 Continental Small Company Portfolio......... 319 -- (26,529) 38,434 12,224 DFA International Real Estate Securities Portfolio................................. 91,532 -- (206,697) (5,808) (120,973) DFA Global Real Estate Securities Portfolio. 11,647 -- (808) 333,050 343,889 DFA International Small Cap Value Portfolio................................. 145,446 127,002 -- 1,923,377 2,195,825 International Vector Equity Portfolio....... 5,884 7,263 -- 218,801 231,948 World ex U.S. Value Portfolio............... 353 -- (2,715) 14,956 12,594 World ex U.S. Targeted Value Portfolio...... 144 1,141 -- 11,475 12,760 World ex U.S. Core Equity Portfolio......... 62 -- -- 11,626 11,688 Selectively Hedged Global Equity Portfolio.. 1,700 537 -- 15,002 17,239 Emerging Markets Portfolio.................. 13,976 21,322 -- 1,122,953 1,158,251 Emerging Markets Small Cap Portfolio........ 27,935 63,092 -- 422,604 513,631 Emerging Markets Value Portfolio............ 128,578 263,757 -- 298,709 691,044 Emerging Markets Core Equity Portfolio...... 55,409 -- (51,641) 1,198,159 1,201,927 For federal income tax purposes, the Fund measures its capital loss carryforwards annually at October 31, its fiscal year end. Capital loss carryforwards may be carried forward and applied against future capital gains. Under the Regulated Investment Company Modernization Act of 2010, capital losses incurred by these Portfolios after October 31, 2011 will not be subject to expiration and will retain their character as either short-term or long-term capital losses. In addition, such losses must be utilized prior to the losses incurred in the years preceding 162 enactment. As of October 31, 2013, the Portfolios had the following capital loss carryforwards available to offset future realized capital gains through the indicated expiration dates (amounts in thousands): EXPIRES ON OCTOBER 31, ----------------------------------------------------------------- 2014 2015 2016 2017 2018 2019 UNLIMITED TOTAL ------ ------ ------- -------- ------- ------- --------- -------- Enhanced U.S. Large Company Portfolio....... -- $1,059 -- -- -- -- -- $ 1,059 U.S. Large Cap Equity Portfolio............. -- -- -- -- -- -- -- -- U.S. Large Cap Value Portfolio.............. -- -- -- $512,898 -- -- -- 512,898 U.S. Targeted Value Portfolio............... -- -- -- -- -- -- -- -- U.S. Small Cap Value Portfolio.............. -- -- -- -- -- -- -- -- U.S. Core Equity 1 Portfolio................ -- -- -- -- -- -- -- -- U.S. Core Equity 2 Portfolio................ -- -- -- -- -- -- -- -- U.S. Vector Equity Portfolio................ -- -- -- -- -- -- -- -- U.S. Small Cap Portfolio.................... -- -- -- -- -- -- -- -- U.S. Micro Cap Portfolio.................... -- -- -- -- -- -- -- -- DFA Real Estate Securities Portfolio........ -- -- $45,525 62,969 $44,388 $26,523 -- 179,405 Large Cap International Portfolio........... -- -- 19,004 135,392 14,311 12,549 $30,938 212,194 International Core Equity Portfolio......... -- -- -- 53,176 -- -- 60,119 113,295 International Small Company Portfolio....... -- -- -- -- -- -- -- -- Japanese Small Company Portfolio............ $2,451 8,003 23,057 13,952 12,208 5,543 1,308 66,522 Asia Pacific Small Company Portfolio........ -- -- 16,317 8,261 -- -- 2,019 26,597 United Kingdom Small Company Portfolio...... -- -- -- -- -- -- -- -- Continental Small Company Portfolio......... -- -- 13,544 7,224 5,252 -- 509 26,529 DFA International Real Estate Securities Portfolio.................................. -- 46 13,446 34,576 38,689 69,466 50,474 206,697 DFA Global Real Estate Securities Portfolio. -- -- -- -- 808 -- -- 808 DFA International Small Cap Value Portfolio. -- -- -- -- -- -- -- -- International Vector Equity Portfolio....... -- -- -- -- -- -- -- -- World ex U.S. Value Portfolio............... -- -- -- -- -- 2,715 -- 2,715 World ex U.S. Targeted Value Portfolio...... -- -- -- -- -- -- -- -- World ex U.S. Core Equity Portfolio......... -- -- -- -- -- -- -- -- Selectively Hedged Global Equity Portfolio.. -- -- -- -- -- -- -- -- Emerging Markets Portfolio.................. -- -- -- -- -- -- -- -- Emerging Markets Small Cap Portfolio........ -- -- -- -- -- -- -- -- Emerging Markets Value Portfolio............ -- -- -- -- -- -- -- -- Emerging Markets Core Equity Portfolio...... -- -- 7,080 26,444 -- -- 18,117 51,641 During the year ended October 31, 2013, the Portfolios utilized the following capital loss carryforwards to offset realized capital gains for federal income tax purposes (amount in thousands): Enhanced U.S. Large Company Portfolio....... $ 45,882 U.S. Large Cap Value Portfolio.............. 819,591 U.S. Core Equity 1 Portfolio................ 13,834 DFA Real Estate Securities Portfolio........ 27,388 Japanese Small Company Portfolio............ 4,124 United Kingdom Small Company Portfolio...... 2,141 Continental Small Company Portfolio......... 2,316 DFA Global Real Estate Securities Portfolio. 308 World ex U.S. Value Portfolio............... 3,127 163 At October 31, 2013, the total cost and aggregate gross unrealized appreciation (depreciation) of securities for federal income tax purposes were different from amounts reported for financial reporting purposes (amounts in thousands): NET UNREALIZED FEDERAL UNREALIZED UNREALIZED APPRECIATION TAX COST APPRECIATION DEPRECIATION (DEPRECIATION) -------------- -------------- ------------ -------------- Enhanced U.S. Large Company Portfolio.... $ 207,573 $ 4,057 $ (82) $ 3,975 U.S. Large Cap Equity Portfolio.......... 159,514 11,436 (877) 10,560 U.S. Large Cap Value Portfolio........... 7,741,219 4,225,900 -- 4,225,900 U.S. Targeted Value Portfolio............ 3,496,204 1,435,154 (104,742) 1,330,412 U.S. Small Cap Value Portfolio........... 8,187,279 3,454,059 (603,712) 2,850,347 U.S. Core Equity 1 Portfolio............. 6,003,068 2,442,119 (144,018) 2,298,101 U.S. Core Equity 2 Portfolio............. 7,894,380 3,482,335 (315,964) 3,166,371 U.S. Vector Equity Portfolio............. 2,351,458 1,047,537 (120,932) 926,605 U.S. Small Cap Portfolio................. 6,999,688 2,475,586 (293,395) 2,182,190 U.S. Micro Cap Portfolio................. 3,920,122 1,980,490 (369,598) 1,610,891 DFA Real Estate Securities Portfolio..... 3,910,757 1,317,277 (65,498) 1,251,778 Large Cap International Portfolio........ 2,379,895 784,229 (171,697) 612,532 International Core Equity Portfolio...... 9,076,319 2,173,008 (734,399) 1,437,474 International Small Company Portfolio.... 6,943,164 1,566,243 -- 1,566,243 Japanese Small Company Portfolio......... 397,615 16,680 -- 16,680 Asia Pacific Small Company Portfolio..... 306,757 24,534 -- 24,534 United Kingdom Small Company Portfolio... 23,323 13,791 -- 13,791 Continental Small Company Portfolio...... 132,494 38,306 -- 38,306 DFA International Real Estate Securities Portfolio.............................. 2,324,655 56,716 (62,535) (5,719) DFA Global Real Estate Securities Portfolio.............................. 1,753,497 333,050 -- 333,050 DFA International Small Cap Value Portfolio.............................. 10,242,293 3,483,706 -- 1,923,255 International Vector Equity Portfolio.... 982,267 260,467 (41,679) 218,775 World ex U.S. Value Portfolio............ 102,466 14,988 -- 14,988 World ex U.S. Targeted Value Portfolio... 84,463 11,475 (327) 11,475 World ex U.S. Core Equity Portfolio...... 117,808 11,626 -- 11,626 Selectively Hedged Global Equity Portfolio.............................. 72,621 15,168 -- 15,168 Emerging Markets Portfolio............... 2,530,894,936 1,122,991,971 -- 1,122,991,971 Emerging Markets Small Cap Portfolio..... 3,614,485 422,694 -- 422,694 Emerging Markets Value Portfolio......... 18,957,804 298,621 -- 298,621 Emerging Markets Core Equity Portfolio... 13,076,862 2,341,323 (1,143,120) 1,198,303 The difference between book basis and tax-basis unrealized appreciation (depreciation) is primarily attributable to the tax deferral of losses on wash sales and investments in passive foreign investment companies. Accounting for Uncertainty in Income Taxes sets forth a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. Management has analyzed each Portfolio's tax positions and has concluded that no additional provision for income tax is required in any Portfolio's financial statements. No Portfolio is aware of any tax positions for which it is more likely than not that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. Each of the Portfolio's federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service. 164 G. CAPITAL SHARE TRANSACTIONS: The capital share transactions by class were as follows (amounts in thousands): YEAR ENDED YEAR ENDED OCT. 31, 2013 OCT. 31, 2012 --------------------- -------------------- AMOUNT SHARES AMOUNT SHARES ----------- -------- ----------- ------- U.S. TARGETED VALUE PORTFOLIO Class R1 Shares Shares Issued........................................ $ 9,003 477 $ 5,787 353 Shares Issued in Lieu of Cash Distributions.......... 3,423 205 730 48 Shares Redeemed...................................... (61,998) (3,124) (7,953) (486) ----------- -------- ----------- ------- Net Increase (Decrease) -- Class R1 Shares............ $ (49,572) (2,442) $ (1,436) (85) =========== ======== =========== ======= Class R2 Shares Shares Issued........................................ $ 10,505 520 $ 4,727 288 Shares Issued in Lieu of Cash Distributions.......... 923 55 162 11 Shares Redeemed...................................... (5,597) (281) (4,413) (273) ----------- -------- ----------- ------- Net Increase (Decrease) -- Class R2 Shares............ $ 5,831 294 $ 476 26 =========== ======== =========== ======= Institutional Class Shares Shares Issued........................................ $ 1,049,705 53,476 $ 772,443 47,901 Shares Issued in Lieu of Cash Distributions.......... 189,447 11,289 39,875 2,618 Shares Redeemed...................................... (1,045,053) (52,845) (649,785) (39,847) ----------- -------- ----------- ------- Net Increase (Decrease) -- Institutional Class Shares. $ 194,099 11,920 $ 162,533 10,672 =========== ======== =========== ======= EMERGING MARKETS VALUE PORTFOLIO Class R2 Shares Shares Issued........................................ $ 27,484 947 $ 61,477 2,199 Shares Issued in Lieu of Cash Distributions.......... 3,927 137 2,784 106 Shares Redeemed...................................... (27,940) (973) (40,795) (1,486) ----------- -------- ----------- ------- Net Increase (Decrease) -- Class R2 Shares............ $ 3,471 111 $ 23,466 819 =========== ======== =========== ======= Institutional Class Shares Shares Issued........................................ $ 4,212,669 148,010 $ 5,047,163 179,634 Shares Issued in Lieu of Cash Distributions.......... 652,656 22,854 436,347 16,644 Shares Redeemed...................................... (2,940,034) (104,206) (2,278,812) (81,493) ----------- -------- ----------- ------- Net Increase (Decrease) -- Institutional Class Shares. $ 1,925,291 66,658 $ 3,204,698 114,785 =========== ======== =========== ======= On October 29, 2010, the Board of Directors/Trustees adopted a Plan of Recapitalization of U.S. Targeted Value Portfolio's Class R1 and Class R2 Shares. On November 19, 2010, a reverse stock split was executed whereby each shareholder of Class R1 Shares received one share for every 1.469 shares held and each shareholder of Class R2 Shares received one share for every 1.394 shares held. The purpose of the reverse split was to reduce the number of Class R1 Shares and Class R2 Shares, thereby increasing the net asset value of each Class R1 Share and Class R2 Share outstanding in order to more closely align the net asset values with the net asset value of U.S. Targeted Value Portfolio's Institutional Class Shares. The per share data in the financial highlights, capital share activity in the statements of changes in net assets and the outstanding shares and net asset value as of October 31, 2010 in the statement of assets and liabilities have been adjusted retroactively to reflect the reverse stock splits for the respective Class R1 and Class R2 Shares. The Board of Directors of the Fund authorized the conversion of the Class R2 Shares of Emerging Markets Value Portfolio to the Class R2A Shares. The Class R2 Shares of Emerging Markets Value Portfolio ceased to be offered and available for purchase upon the close of business on December 3, 2010. Following the conversion, shareholders and investors purchased and redeemed Class R2A Shares of the Portfolio. The value of a shareholder's investment in the Portfolio was not impacted by the conversion, however, a shareholder received 165 fewer Class R2A Shares than the number of Class R2 Shares held at the time of the conversion because the Class R2A Shares had a higher net asset value per share. Effective February 28, 2011, Class R2A Shares were renamed to Class R2 Shares. The per share data in the financial highlights prior to the year ended October 31, 2011 have been retroactively restated to reflect the conversion. Additionally, the capital share activity in the Statement of Changes in Net Assets and capital share activity earlier in this note shows the reduction of shares as a result of the conversion. H. FINANCIAL INSTRUMENTS: In accordance with the Portfolios' investment objectives and policies, the Portfolios may invest, either directly or indirectly through their investment in a corresponding Master Fund, in certain financial instruments that have off-balance sheet risk in excess of the amounts recognized in the financial statements and concentrations of credit and market risk. These instruments and their significant corresponding risks are described below: 1. REPURCHASE AGREEMENTS: The Portfolios may purchase certain U.S. Government securities subject to the counterparty's agreement to repurchase them at an agreed upon date and price. The counterparty will be required on a daily basis to maintain the value of the collateral subject to the agreement at not less than the repurchase price (including accrued interest). The agreements are conditioned upon the collateral being deposited under the Federal Reserve book-entry system with the Portfolio's custodian or a third party sub-custodian. In the event of default or bankruptcy by the other party to the agreement, retention of the collateral may be subject to legal proceedings. 2. FOREIGN MARKET RISKS: Investments in foreign markets may involve certain considerations and risks not typically associated with investments in the United States of America, including the possibility of future political and economic developments and the level of foreign governmental supervision and regulation of foreign securities markets. These markets are generally smaller, less liquid and more volatile than the major securities markets in the United States of America. Consequently, acquisition and disposition of international securities held by the Portfolios may be inhibited. DERIVATIVE FINANCIAL INSTRUMENTS: Summarized below are the specific types of derivative instruments used by the Portfolios. 3. FORWARD CURRENCY CONTRACTS: Enhanced U.S. Large Company Portfolio and Selectively Hedged Global Equity Portfolio may enter into forward currency contracts to hedge against adverse changes in the relationship of the U.S. dollar to foreign currencies (foreign exchange rate risk). The decision to hedge a Portfolio's currency exposure with respect to a foreign market will be based primarily on the Portfolio's existing exposure to a given foreign currency. Each contract is valued daily and the change in value is recorded by the Portfolio as an unrealized gain or loss, which is presented in the Statements of Operations as the change in unrealized appreciation or depreciation from translation of foreign currency denominated amounts. When the contract is closed or offset with the same counterparty, the Portfolio records a realized gain or loss equal to the change in the value of the contract when it was opened and the value at the time it was closed or offset. This is presented in the Statements of Operations as a net realized gain or loss on foreign currency transactions. At October 31, 2013, Enhanced U.S. Large Company Portfolio and Selectively Hedged Global Equity Portfolio had entered into the following contracts and the net unrealized foreign exchange gain (loss) is reflected in the accompanying financial statements (amounts in thousands): ENHANCED U.S. LARGE COMPANY PORTFOLIO* UNREALIZED FOREIGN SETTLEMENT CURRENCY CONTRACT VALUE AT EXCHANGE DATE AMOUNT** CURRENCY AMOUNT OCTOBER 31, 2013 GAIN (LOSS) ---------- -------- -------- -------- ---------------- ----------- 11/13/13 8,387 Euro $ 11,342 $ 11,387 $ 45 11/13/13 8,294 Euro 11,270 11,260 (10) 11/13/13 (2,071) Euro (2,799) (2,811) (12) 166 UNREALIZED FOREIGN SETTLEMENT CURRENCY CONTRACT VALUE AT EXCHANGE DATE AMOUNT** CURRENCY AMOUNT OCTOBER 31, 2013 GAIN (LOSS) ---------- -------- ------------------ -------- ---------------- ----------- 11/13/13 (2,124) Euro $ (2,893) $ (2,884) $ 9 11/13/13 (4,078) Euro (5,518) (5,537) (19) 11/13/13 (8,408) Euro (11,145) (11,416) (271) 11/04/13 6,278 New Zealand Dollar 5,183 5,185 2 11/04/13 (4,082) New Zealand Dollar (3,367) (3,371) (4) 11/04/13 (6,273) New Zealand Dollar (5,211) (5,181) 30 12/05/13 (6,287) New Zealand Dollar (5,180) (5,182) (2) 11/12/13 (3,096) UK Pound Sterling (4,979) (4,964) 15 -------- -------- ----- $(13,297) $(13,514) $(217) ======== ======== ===== SELECTIVELY HEDGED GLOBAL EQUITY PORTFOLIO* UNREALIZED FOREIGN SETTLEMENT CURRENCY CONTRACT VALUE AT EXCHANGE DATE AMOUNT** CURRENCY AMOUNT OCTOBER 31, 2013 GAIN (LOSS) ---------- -------- ---------------- -------- ---------------- ----------- 11/19/13 (1,991) Denmark Krone $ (359) $ (364) $ (5) 12/09/13 (5,621) Euro (7,646) (7,632) 14 11/15/13 (19,866) Hong Kong Dollar (2,562) (2,562) -- 12/30/13 (586,231) Japanese Yen (6,040) (5,964) 76 12/13/13 (1,885) Swiss Franc (2,021) (2,078) (57) -------- -------- ---- $(18,628) $(18,600) $ 28 ======== ======== ==== * During the year ended October 31, 2013, Enhanced U.S. Large Company Portfolio's and Selectively Hedged Global Equity Portfolio's average contract amount of forward currency contracts was $70,028 and $14,609 (in thousands), respectively. **Positive Currency Amount represents a purchase contract and a Currency Amount in parentheses represents a sale contract. Risks may arise upon entering into these contracts from the potential inability of counterparties to meet the terms of their contracts and from unanticipated movements in the value of foreign currency relative to the U.S. dollar. 4. FUTURES CONTRACTS: Certain Portfolios may enter into futures contracts to gain market exposure on uninvested cash pending investment in securities or to maintain liquidity to pay redemptions. Additionally, Enhanced U.S. Large Company Portfolio and Selectively Hedged Global Equity Portfolio use stock index futures to hedge against changes in equity securities' prices and to gain exposure to the S&P 500 Index(R) and S&P 500 Index(R) Emini, respectively, in the normal course of pursuing their investment objectives. Upon entering into a futures contract, the Portfolios deposit cash or pledge U.S. Government securities to a broker, equal to the minimum "initial margin" requirements of the exchange on which the contract is traded. Subsequent payments are received from or paid to the broker each day, based on the daily fluctuation in the market value of the contract. These receipts or payments are known as "variation margin" and are recorded daily by the Portfolios as unrealized gains or losses until the contracts are closed. When the contracts are closed, the Portfolios record a realized gain or loss, which is presented in the Statements of Operations as a net realized gain or loss on futures, equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. Risks may arise upon entering into futures contracts from potential imperfect price correlations between the futures contracts and the underlying securities, from the possibility of an illiquid secondary market for these instruments and from the possibility that the Portfolios could lose more than the initial margin requirements. The Portfolios entering into stock index futures are subject to equity price risk from those futures contracts. Counterparty credit risk related to exchange-traded futures is minimal because the exchange's clearinghouse, as counterparty to all exchange-traded futures, guarantees the futures against default. 167 At October 31, 2013, the following Portfolios had outstanding futures contracts (dollar amounts in thousands): APPROXIMATE EXPIRATION NUMBER OF CONTRACT UNREALIZED CASH DESCRIPTION DATE CONTRACTS* VALUE GAIN (LOSS) COLLATERAL ----------------------- ---------- ---------- -------- ----------- ----------- Enhanced U.S. Large Company Portfolio....... S&P 500 Index(R) 12/20/13 467 $204,429 $7,914 -- Selectively Hedged Global Equity Portfolio........ S&P 500 Index(R) Emini 12/20/13 39 3,414 133 $160 Securities have been segregated as collateral for open futures contracts. * During the year ended October 31, 2013, Enhanced U.S. Large Company Portfolio's and Selectively Hedged Global Equity Portfolio's average notional contract amount basis contract amount of outstanding futures contracts were $187,291 and $2,501 (in thousands), respectively. The following is a summary of the location of derivatives on the Portfolios' Statements of Assets and Liabilities as of October 31, 2013: LOCATION ON THE STATEMENTS OF ASSETS AND LIABILITIES --------------------------------------------------- DERIVATIVE TYPE ASSET DERIVATIVES LIABILITY DERIVATIVES --------------- ------------------------ ------------------------ Foreign exchange Unrealized Gain on Unrealized Loss on contracts Forward Currency Forward Currency Contracts Contracts Equity contracts Payables: Futures Margin Variation The following is a summary of the Portfolios' derivative instrument holdings categorized by primary risk exposure as of October 31, 2013 (amounts in thousands): ASSET DERIVATIVES VALUE ----------------------------------- TOTAL VALUE FOREIGN AT EXCHANGE EQUITY OCTOBER 31, 2013 CONTRACTS CONTRACTS - ---------------- --------- --------- Enhanced U.S. Large Company Portfolio...... $8,015 $ 101 $7,914* Selectively Hedged Global Equity Portfolio. 223 90 133* LIABILITY DERIVATIVES VALUE ----------------------------------- TOTAL VALUE FOREIGN AT EXCHANGE EQUITY OCTOBER 31, 2013 CONTRACTS CONTRACTS - ---------------- --------- --------- Enhanced U.S. Large Company Portfolio...... $ (318) $(318) -- Selectively Hedged Global Equity Portfolio. (62) (62) -- * Includes cumulative appreciation (depreciation) of futures contracts. Only current day's margin variation is reported within the Statement of Assets and Liabilities. The following is a summary of the location on the Portfolios' Statements of Operations of realized and change in unrealized gains and losses from the Portfolios' derivative instrument holdings through the year ended October 31, 2013 (amounts in thousands): DERIVATIVE TYPE LOCATION OF GAIN (LOSS) ON DERIVATIVES RECOGNIZED IN INCOME --------------- ----------------------------------------------------------- Foreign exchange contracts Net Realized Gain (Loss) on: Foreign Currency Transactions Change in Unrealized Appreciation (Depreciation) of: Translation of Foreign Currency Denominated Amounts Equity contracts Net Realized Gain (Loss) on: Futures Change in Unrealized Appreciation (Depreciation) of: Futures 168 The following is a summary of the realized and change in unrealized gains and losses from the Portfolios' derivative instrument holdings categorized by primary risk exposure through the year ended October 31, 2013 (amounts in thousands): REALIZED GAIN (LOSS) ON DERIVATIVES RECOGNIZED IN INCOME ------------------------------- FOREIGN EXCHANGE EQUITY TOTAL CONTRACTS CONTRACTS ------- --------- --------- Enhanced U.S. Large Company Portfolio............... $39,706 $(738) $40,444 U.S. Targeted Value Portfolio*...................... 4,864 -- 4,864 U.S. Small Cap Value Portfolio*..................... 4,175 -- 4,175 U.S. Vector Equity Portfolio*....................... (48) -- (48) U.S. Small Cap Portfolio*........................... (331) -- (331) U.S. Micro Cap Portfolio*........................... (423) -- (423) International Small Company Portfolio*.............. (29) -- (29) Continental Small Company Portfolio*................ 29 -- 29 DFA International Real Estate Securities Portfolio*. 888 -- 888 Selectively Hedged Global Equity Portfolio.......... 813 268 545 Emerging Markets Small Cap Portfolio*............... 457 -- 457 CHANGE IN UNREALIZED APPRECIATION (DEPRECIATION) ON DERIVATIVES RECOGNIZED IN INCOME ------------------------------- FOREIGN EXCHANGE EQUITY TOTAL CONTRACTS CONTRACTS ------- --------- --------- Enhanced U.S. Large Company Portfolio............... $ 6,052 $ 964 $ 5,088 Selectively Hedged Global Equity Portfolio.......... 272 122 150 * As of October 31, 2013, there were no futures contracts outstanding. During the year ended October 31, 2013, the Portfolios had limited activity in futures contracts. I. LINE OF CREDIT: The Fund, together with other Dimensional-advised portfolios, entered into a $250 million unsecured discretionary line of credit effective June 22, 2011 with The Bank of New York Mellon, which was terminated by The Bank of New York Mellon effective March 29, 2013. Prior to termination, each portfolio was permitted to borrow, subject to its investment limitations, up to a maximum of $250 million, as long as total borrowings under the line of credit did not exceed $250 million in the aggregate. Borrowings under the line of credit were charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio was individually, and not jointly, liable for its particular advances under the line of credit. There was no commitment fee on the unused portion of the line of credit. The Fund, together with other Dimensional-advised portfolios, has entered into a $500 million unsecured discretionary line of credit effective March 4, 2013 with its domestic custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. There is no commitment fee on the unused portion of the line of credit. The agreement for the discretionary line of credit may be terminated by either party at any time. The line of credit is scheduled to expire on March 3, 2014. The Fund, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit effective January 11, 2013 with its international custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Each portfolio is individually, and not jointly, liable for 169 its particular advances under the line of credit. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. There is no commitment fee on the unused portion of the line of credit. The agreement for the line of credit expires on January 10, 2014. For the year ended October 31, 2013, borrowings by the Portfolios under the lines of credit were as follows (amounts in thousands, except percentages and days): WEIGHTED WEIGHTED NUMBER OF INTEREST MAXIMUM AMOUNT AVERAGE AVERAGE LOAN DAYS EXPENSE BORROWED DURING INTEREST RATE BALANCE OUTSTANDING* INCURRED THE PERIOD ------------- ------------ ------------ -------- --------------- U.S. Targeted Value Portfolio............... 0.91% $ 4,884 14 $ 2 $10,912 U.S. Small Cap Value Portfolio.............. 0.87% 3,717 17 2 10,728 U.S. Core Equity 1 Portfolio................ 0.86% 5,556 13 2 12,118 U.S. Core Equity 2 Portfolio................ 0.85% 11,512 12 3 26,857 U.S. Small Cap Portfolio.................... 0.91% 4,540 1 -- 4,540 U.S. Micro Cap Portfolio.................... 0.85% 3,328 23 2 7,874 DFA Real Estate Securities Portfolio........ 0.89% 3,978 11 1 7,104 Large Cap International Portfolio........... 0.88% 24,396 15 9 37,795 International Core Equity Portfolio......... 0.87% 17,268 21 9 45,610 International Small Company Portfolio....... 0.83% 4,193 1 -- 4,193 DFA International Real Estate Securities Portfolio................................. 0.83% 358 1 -- 358 DFA Global Real Estate Securities Portfolio. 0.83% 1,195 3 -- 1,573 DFA International Small Cap Value Portfolio. 0.85% 18,409 90 39 58,797 International Vector Equity Portfolio....... 0.85% 1,225 8 -- 2,787 World ex U.S. Value Portfolio............... 0.87% 834 22 -- 5,473 World ex U.S. Targeted Value Portfolio...... 0.84% 426 9 -- 1,067 World ex U.S. Core Equity Portfolio......... 0.84% 312 20 -- 1,484 * Number of Days Outstanding represents the total of single or consecutive days during the year ended October 31, 2013, that each Portfolio's available line of credit was utilized. At October 31, 2013 only the DFA International Small Cap Value Portfolio had outstanding borrowings under the lines of credit of $4,016 (in thousands). J. SECURITIES LENDING: As of October 31, 2013, some of the Portfolios had securities on loan to brokers/dealers, for which each such Portfolio received cash collateral. In addition, the following Portfolios received non-cash collateral consisting of short and/or long term U.S. Treasury securities (amounts in thousands): MARKET VALUE -------- Large Cap International Portfolio.................. $ 19,115 International Core Equity Portfolio................ 54,401 DFA International Real Estate Securities Portfolio. 1,189 DFA International Small Cap Value Portfolio........ 42,290 International Vector Equity Portfolio.............. 5,783 Emerging Markets Core Equity Portfolio............. 374,335 Each Portfolio invests the cash collateral, as described below, and records a liability for the return of the collateral, during the period the securities are on loan. Loans of securities are expected at all times to be secured by collateral equal to at least (i) 100% of the current market value of the loaned securities with respect to securities of the U.S. government or its agencies, (ii) 102% of the current market value of the loaned securities with respect to U.S. securities, and (iii) 105% of the current market value of the loaned securities with respect to foreign securities. However, daily market fluctuations could cause the Portfolio's collateral to be lower or higher than the expected 170 thresholds. If this were to occur, the collateral would be adjusted the next business day to ensure adequate collateralization. In the event of default or bankruptcy by the other party to the agreement, realization and/or retention of the collateral may be subject to legal proceedings. If the borrower fails to return loaned securities, and cash collateral being maintained by the borrower is insufficient to cover the value of loaned securities and provided such collateral insufficiency is not the result of investment losses, the lending agent has agreed to pay the amount of the shortfall to the Portfolio or, at the option of the lending agent, to replace the securities. Subject to their stated investment policies, each Portfolio will generally invest the cash collateral received for the loaned securities in The DFA Short Term Investment Fund (the "Money Market Series"), an affiliated registered money market fund advised by the Advisor for which the Advisor receives a management fee of 0.05% of the average daily net assets of the Money Market Series. Each Portfolio also may invest the cash collateral received for the loaned securities in securities of the U.S. government or its agencies, repurchase agreements collateralized by securities of the U.S. government or its agencies, and affiliated and unaffiliated registered and unregistered money market funds. For purposes of this paragraph, agencies include both agency debentures and agency mortgage-backed securities. In addition, each Portfolio will be able to terminate the loan at any time and will receive reasonable interest on the loan, as well as amounts equal to any dividends, interest or other distributions on the loaned securities. However, dividend income received from loaned securities may not be eligible to be taxed at qualified dividend income rates. K. SHAREHOLDER SERVICING FEES: The Class R1 Shares pay a shareholder servicing fee in the amount of 0.10% and Class R2 Shares pay a shareholder servicing fee in the amount of 0.25% of their annual average net assets to compensate service agents that provide shareholder servicing, record keeping, account maintenance and other services to investors in U.S. Targeted Value Portfolio Class R1 and Class R2 Shares and Emerging Markets Value Portfolio Class R2 Shares. L. INDEMNITEES; CONTRACTUAL OBLIGATIONS: Under the Fund's organizational documents, its officers and directors are indemnified against certain liabilities arising out of the performance of their duties to the Fund. In the normal course of business, the Fund enters into contracts that contain a variety of representations and warranties which provide general indemnification. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund and/or its affiliates that have not yet occurred. However, based on experience, the Fund expects the risk of loss to be remote. M. RECENTLY ISSUED ACCOUNTING STANDARDS: In January 2013, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") No. 2013-01 "Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities" ("ASU 2013-01") which amended Accounting Standards Codification Subtopic 210-20, Balance Sheet Offsetting. ASU 2013-01 clarified the scope of ASU No. 2011-11 "Disclosures about Offsetting Assets and Liabilities" ("ASU 2011-11"). ASU 2011-11 requires an entity to disclose information about offsetting and related arrangements to enable users of that entity's financial statements to understand the effect of those arrangements on its financial position. ASU 2013-01 clarifies the scope of ASU 2011-11 as applying to derivatives accounted for in accordance with Topic 815, Derivatives and Hedging, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are offset either in accordance with other requirements of GAAP or subject to an enforceable master netting arrangement or similar agreement. ASU No. 2011-11 is effective for annual periods beginning on or after January 1, 2013, and interim periods within those annual periods. Management is evaluating any impact ASU No. 2011-11 may have on the financial statements. N. OTHER: At October 31, 2013, the following number of shareholders held the following approximate percentages of the stated fund outstanding shares. One or more of the shareholders may be omnibus accounts, which typically hold shares for the benefit of several other underlying investors. 171 APPROXIMATE PERCENTAGE NUMBER OF OF OUTSTANDING SHAREHOLDERS SHARES ------------ -------------- Enhanced U.S. Large Company Portfolio -- Institutional Class Shares............................................................ 5 85% U.S. Large Cap Equity Portfolio -- Institutional Class Shares....... 3 99% U.S. Large Cap Value Portfolio -- Institutional Class Shares........ 3 73% U.S. Targeted Value Portfolio -- Class R1 Shares.................... 4 95% U.S. Targeted Value Portfolio -- Class R2 Shares.................... 6 81% U.S. Targeted Value Portfolio -- Institutional Class Shares......... 3 62% U.S. Small Cap Value Portfolio -- Institutional Class Shares........ 3 60% U.S. Core Equity 1 Portfolio -- Institutional Class Shares.......... 4 74% U.S. Core Equity 2 Portfolio -- Institutional Class Shares.......... 6 81% U.S. Vector Equity Portfolio -- Institutional Class Shares.......... 5 95% U.S. Small Cap Portfolio -- Institutional Class Shares.............. 3 48% U.S. Micro Cap Portfolio -- Institutional Class Shares.............. 4 70% DFA Real Estate Securities Portfolio -- Institutional Class Shares............................................................ 4 85% Large Cap International Portfolio -- Institutional Class Shares..... 3 69% International Core Equity Portfolio -- Institutional Class Shares... 4 75% International Small Company Portfolio -- Institutional Class Shares............................................................ 4 57% Japanese Small Company Portfolio -- Institutional Class Shares...... 4 82% Asia Pacific Small Company Portfolio -- Institutional Class Shares............................................................ 3 87% United Kingdom Small Company Portfolio -- Institutional Class Shares............................................................ 3 94% Continental Small Company Portfolio -- Institutional Class Shares............................................................ 5 95% DFA International Real Estate Securities Portfolio -- Institutional Class Shares...................................................... 4 93% DFA Global Real Estate Securities Portfolio -- Institutional Class Shares............................................................ 3 82% DFA International Small Cap Value Portfolio -- Institutional Class Shares............................................................ 3 57% International Vector Equity Portfolio -- Institutional Class Shares............................................................ 4 87% World ex U.S. Value Portfolio -- Institutional Class Shares......... 5 84% World ex U.S. Targeted Value Portfolio -- Institutional Class Shares............................................................ 3 100% World ex U.S. Core Equity Portfolio -- Institutional Class Shares... 2 97% Selectively Hedged Global Equity Portfolio.......................... 3 96% Emerging Markets Portfolio -- Institutional Class Shares............ 4 68% Emerging Markets Small Cap Portfolio -- Institutional Class Shares............................................................ 4 51% Emerging Markets Value Portfolio -- Class R2 Shares................. 5 85% Emerging Markets Value Portfolio -- Institutional Class Shares...... 2 28% Emerging Markets Core Equity Portfolio -- Institutional Class Shares............................................................ 3 59% The Portfolios are subject to claims and suits that arise from time to time in the ordinary course of business (for example, in The Tribune Company Bankruptcy, certain creditors have filed actions against all shareholders of The Tribune Company who tendered shares when the Tribune Company went private in 2007 in a leveraged buyout 172 transaction, seeking the return of proceeds received by the shareholders). Although management currently believes that resolving claims against us, individually or in aggregate, will not have a material adverse impact on our financial position, our results of operations, or our cash flows, these matters are subject to inherent uncertainties and management's view of these matters may change in the future. The U.S. Large Cap Value Series has been named as a defendant in a multi-district litigation pending in the United States District Court for the Southern District of New York (the "Court"), captioned IN RE TRIBUNE COMPANY FRAUDULENT CONVEYANCE LITIGATION, No. 11-MD-2296-RJS (the "Tribune MDL"). The Tribune MDL arises from the 2007 leveraged buyout of The Tribune Company ("Tribune") (the "LBO") and Tribune's subsequent bankruptcy and reorganization. In connection with the LBO, thousands of Tribune shareholders, including the U.S. Large Cap Value Series, sold Tribune shares back to Tribune for $34 per share. The Tribune MDL includes a series of lawsuits brought by individual creditors of Tribune (the "Individual Creditor Actions") and a lawsuit brought by a court-appointed trustee on behalf of the committee of unsecured creditors of Tribune (the "Committee Action," and with the Individual Creditor Actions, collectively referred to as the "Lawsuits"). The Lawsuits seek to unwind the LBO stock repurchases as fraudulent transfers and recover the stock repurchase proceeds paid to the Tribune shareholders who participated in the LBO. On September 23, 2013, the Court entered an order dismissing the Individual Creditor Actions in their entirety on the grounds that the individual creditor plaintiffs lack standing to pursue their claims. The Court's dismissal order is on appeal to the Second Circuit. The Committee Action remains pending, and the Court currently is coordinating with the parties to establish a schedule for motions to dismiss in the Committee Action. Litigation counsel to the U.S. Large Cap Value Series in the Lawsuits does not believe that it is possible, at this early stage in the proceedings, to predict with any reasonable certainty the probable outcome of the Lawsuits or quantify the ultimate exposure to the U.S. Large Cap Value Series arising from the Lawsuits. Until the U.S. Large Cap Value Series can do so, no reduction of the net asset value of the U.S. Large Cap Value Series will be made relating to the Lawsuits. However, even if the plaintiffs in the Lawsuits were to obtain the full recovery the plaintiffs seek, the amount would be less than 1% of the U.S. Large Cap Value Series' net asset value at this time. The U.S. Large Cap Value Series also cannot predict what its size might be at the time the cost of the Lawsuits might be quantifiable and thus potentially deducted from its net asset value. Therefore, at this time, those investors buying or redeeming shares of the U.S. Large Cap Value Series will pay or receive, as the case may be, a price based on the net asset value of the U.S. Large Cap Value Series, with no adjustment relating to the Lawsuits. The attorneys' fees and costs relating to the Lawsuits will be taken as expenses by the U.S. Large Cap Value Series as incurred and in a manner similar to any other expense incurred by the U.S. Large Cap Value Series. P. SUBSEQUENT EVENT EVALUATIONS: On December 13, 2013, the Board of DFAIDG voted to approve the combination of the Investment Advisory Agreement and the Administration Agreement (together, the "Current Agreements") into a bundled Investment Management Agreement for each of the following five Portfolios: U.S. Small Cap Portfolio, U.S. Small Cap Value Portfolio, U.S. Micro Cap Portfolio, Enhanced U.S. Large Company Portfolio, and U.S. Targeted Value Portfolio. It is expected that each Investment Management Agreement will become effective on February 28, 2014. The nature and level of services to the Portfolios under the Investment Management Agreements will be the same as under the Current Agreements. When the Investment Management Agreements become effective, each Portfolio will pay the Advisor an investment management fee that is equal to the sum of the current investment advisory fee and current administration fee that is paid by the Portfolio to the Advisor under the Current Agreements. Management has evaluated the impact of all subsequent events on the Portfolios and has determined that there are no other subsequent events requiring recognition or disclosure in the financial statements. 173 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM TO THE SHAREHOLDERS OF THE PORTFOLIOS, AS DEFINED, AND BOARD OF DIRECTORS OF DFA INVESTMENT DIMENSIONS GROUP INC.: In our opinion, the accompanying statements of assets and liabilities, including the schedules of investments/summary schedules of portfolio holdings, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of Enhanced U.S. Large Company Portfolio, U.S. Large Cap Equity Portfolio, U.S. Large Cap Value Portfolio, U.S. Targeted Value Portfolio, U.S. Small Cap Value Portfolio, U.S. Core Equity 1 Portfolio, U.S. Core Equity 2 Portfolio, U.S. Vector Equity Portfolio, U.S. Small Cap Portfolio, U.S. Micro Cap Portfolio, DFA Real Estate Securities Portfolio, Large Cap International Portfolio, International Core Equity Portfolio, International Small Company Portfolio, Japanese Small Company Portfolio, Asia Pacific Small Company Portfolio, United Kingdom Small Company Portfolio, Continental Small Company Portfolio, DFA International Real Estate Securities Portfolio, DFA Global Real Estate Securities Portfolio, DFA International Small Cap Value Portfolio, International Vector Equity Portfolio, World ex U.S. Value Portfolio, World ex U.S. Targeted Value Portfolio, World ex U.S. Core Equity Portfolio, Selectively Hedged Global Equity Portfolio, Emerging Markets Portfolio, Emerging Markets Small Cap Portfolio, Emerging Markets Value Portfolio, and Emerging Markets Core Equity Portfolio (constituting portfolios within DFA Investment Dimensions Group Inc., hereafter referred to as the "Portfolios") at October 31, 2013, the results of each of their operations, the changes in each of their net assets and the financial highlights for each of the periods indicated, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as "financial statements") are the responsibility of the Portfolios' 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, 2013 by correspondence with the custodians, brokers, and the transfer agents of the investee funds, provide a reasonable basis for our opinion. PricewaterhouseCoopers LLP Philadelphia, Pennsylvania December 20, 2013 174 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- DFA COMMODITY STRATEGY PORTFOLIO VS. DOW JONES-UBS COMMODITY INDEX TOTAL RETURN NOVEMBER 9, 2010-OCTOBER 31, 2013 [CHART] DFA Commodity Dow Jones-UBS Commodity Strategy Portfolio Index Total Return ------------------------- ---------------------------- 11/9/2010 $10,000 $10,000 11/30/2010 9,480 9,414 12/31/2010 10,464 10,420 1/31/2011 10,584 10,525 2/28/2011 10,804 10,664 3/31/2011 11,010 10,884 4/30/2011 11,440 11,261 5/31/2011 10,889 10,691 6/30/2011 10,337 10,152 7/31/2011 10,678 10,452 8/31/2011 10,788 10,557 9/30/2011 9,187 9,001 10/31/2011 9,798 9,597 11/30/2011 9,538 9,384 12/31/2011 9,199 9,032 1/31/2012 9,480 9,256 2/29/2012 9,752 9,506 3/31/2012 9,360 9,112 4/30/2012 9,299 9,074 5/31/2012 8,494 8,245 6/30/2012 8,889 8,698 7/31/2012 9,494 9,261 8/31/2012 9,676 9,381 9/30/2012 9,840 9,541 10/31/2012 9,497 9,171 11/30/2012 9,547 9,176 12/31/2012 9,321 8,937 1/31/2013 9,544 9,151 2/28/2013 9,169 8,777 3/31/2013 9,229 8,836 4/30/2013 8,996 8,590 5/31/2013 8,763 8,397 6/30/2013 8,304 8,001 7/31/2013 8,436 8,110 8/31/2013 8,730 8,386 9/30/2013 8,529 8,172 10/31/2013 8,438 7,963 Past performance is not predictive of future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FROM redemption of fund shares. TOTAL RETURN YEAR 11/09/2010 ----------------------------------------------------- Dow Jones-UBS data provided by S&P -11.15% -5.55% Dow Jones Indices, LLC and UBS AG. -------------------------------------------------------------------------------- 175 DFA INVESTMENT DIMENSIONS GROUP INC. MANAGEMENT'S DISCUSSION AND ANALYSIS COMMODITY MARKET REVIEW 12 MONTHS ENDED OCTOBER 31, 2013 During the fiscal year ended, October 31, 2013, commodities produced mostly negative returns. Stepping outside this trend were the petroleum based commodities which may have benefited from renewed Middle East concerns and continuing pipeline and refinery hurdles. Natural gas prices experienced a substantial decline in part likely due to lower demand and increased supply in a market less restrained by delivery and refinery bottlenecks. Corn and wheat prices experienced significant declines in 2013 as the U.S. emerged from the 2012 drought with early signs of bumper corn crop followed by a much improved summer wheat harvest. As equity markets surged and evidence of lower inflation expectations emerged, silver and gold erased nearly half the value created in a ten year rally that ended at the beginning of the period. Industrial metals saw modest drops on increased supply. DFA COMMODITY STRATEGY PORTFOLIO The DFA Commodity Strategy Portfolio seeks total return consisting of capital appreciation and current income. The Portfolio generally invests in commodity-linked derivative instruments and fixed income investments. The Portfolio gains exposure to commodities markets by investing in derivative instruments, swap agreements, and other commodity-linked instruments. The Portfolio pursues commodity exposure based on sector weights of the Dow Jones-UBS Commodity Index Total Return (DJ-UBSCI). In pursuing the fixed income portion of the Portfolio's investment strategy, Dimensional Fund Advisors LP ("Dimensional" or the "Advisor") identifies a broadly-diversified universe of eligible U.S. and foreign fixed income securities with precisely defined maturity ranges and credit quality characteristics and then seeks to purchase a broad and diverse portfolio of securities meeting these credit quality standards. In making these purchase decisions, if the anticipated maturity risk premium is greater for longer-term securities in the eligible maturity range, Dimensional will generally focus investment in that longer-term area; otherwise, the Portfolio will generally focus investment in the short-term range of the eligible maturity range. For the 12 months ended October 31, 2013, the total return was -11.15% for the Portfolio and -12.21% for the Dow Jones-UBS Commodity Index Total Return. The Portfolio's outperformance came from a combination of both the flexibility the Portfolio maintains relative to the benchmark in regards to its management of futures contract expirations and the Portfolio's investment in fixed income securities. The Portfolio gained exposure to commodities primarily through the use of commodity swap contracts. To a lesser extent, the Portfolio gained exposure to commodities through the use of commodity futures. The Portfolio's commodity swaps provided exposure to the 22 commodities found in the Dow Jones-UBS Commodity Index Total Return whose returns for the period ranged from +10.19% (WTI crude oil) to -38.88% (coffee). While the Portfolio has derivative exposure to commodities, the majority of the assets were invested in fixed income securities. The fixed income component duration decreased slightly from 1.85 to 1.82 years during the period. The Portfolio benefited from the exposure to longer duration relative to its short-term obligations on its derivatives. It also benefited from its credit exposure during a period where credit spreads narrowed. The time of valuation of currency can create differences between the performance of the Portfolio and the Index. 176 DFA INVESTMENT DIMENSIONS GROUP INC. DFA COMMODITY STRATEGY PORTFOLIO CONSOLIDATED DISCLOSURE OF FUND EXPENSES (UNAUDITED) The following Expense Table is shown so that you can understand the impact of fees on your investment. All mutual funds have operating expenses. As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports, among others. Operating expenses, legal and audit services, which are deducted from a fund's gross income, directly reduce the investment return of the fund. A fund's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs, in dollars, of investing in the fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period. The Expense Table below illustrates your fund's costs in two ways. ACTUAL FUND RETURN This section helps you to estimate the actual expenses after fee waivers that you paid over the period. The "Ending Account Value" shown is derived from the fund's actual return and "Expenses Paid During Period" reflect the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. To do so, simply divide your account value by $1,000 (for example, a $7,500 account value divided by $1,000 = 7.5), then multiply the result by the number given for your fund under the heading "Expenses Paid During Period." HYPOTHETICAL EXAMPLE FOR COMPARISON PURPOSES This section is intended to help you compare your fund's costs with those of other mutual funds. The hypothetical "Ending Account Value" and "Expenses Paid During Period" are derived from the fund's actual expense ratio and an assumed 5% annual return before expenses. In this case, because the return used is not the fund's actual return, the results do not apply to your investment. The example is useful in making comparisons because the SEC requires all mutual funds to calculate expenses based on a 5% annual return. You can assess your fund's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. Please note that the expenses shown in the tables are meant to highlight and help you compare ongoing costs only and do not reflect any transactional costs, if applicable. The "Annualized Expense Ratio" represents the actual expenses for the six-month period indicated. SIX MONTHS ENDED OCTOBER 31, 2013 EXPENSE TABLES BEGINNING ENDING EXPENSES ACCOUNT ACCOUNT ANNUALIZED PAID VALUE VALUE EXPENSE DURING 05/01/13 10/31/13 RATIO* PERIOD* --------- --------- ---------- -------- DFA COMMODITY STRATEGY PORTFOLIO -------------------------------- Actual Fund Return............... $1,000.00 $ 937.90 0.34% $1.66 Hypothetical 5% Annual Return.... $1,000.00 $1,023.49 0.34% $1.73 ---------- * DFA Commodity Strategy Portfolio wholly owns Dimensional Cayman Commodity Fund I, LTD. The expenses shown reflect the combined expenses of Dimensional Cayman Commodity Fund I, LTD. and DFA Commodity Strategy Portfolio. Expenses are equal to the fund's annualized expense ratio for the six-month period, multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period (184), then divided by the number of days in the year (365) to reflect the six-month period. 177 DFA INVESTMENT DIMENSIONS GROUP INC. DFA COMMODITY STRATEGY PORTFOLIO CONSOLIDATED DISCLOSURE OF PORTFOLIO HOLDINGS (UNAUDITED) The SEC requires that all funds file a complete Schedule of Investments with the SEC for their first and third fiscal quarters on Form N-Q. For DFA Investment Dimensions Group Inc., this would be for the fiscal quarters ending January 31 and July 31. The Form N-Q filing must be made within 60 days of the end of the quarter. DFA Investment Dimensions Group Inc. filed its most recent Form N-Q with the SEC on September 27, 2013. It is available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room). PORTFOLIO HOLDINGS The SEC requires that all funds present their categories of portfolio holdings in a table, chart or graph format in their annual and semi-annual shareholder reports, whether or not a Schedule of Investments is utilized. The following table, which presents portfolio holdings as a percent of total investments before short-term investments and collateral for loaned securities, is provided in compliance with such requirement. The categories shown below represent broad industry sectors. Each industry sector consists of one or more specific industry classifications. DFA COMMODITY STRATEGY PORTFOLIO Corporate.................................... 46.6% Foreign Corporate............................ 22.5% Foreign Government........................... 3.1% Government................................... 26.3% Supranational................................ 1.5% ----- 100.0% 178 DFA COMMODITY STRATEGY PORTFOLIO CONSOLIDATED SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 FACE AMOUNT^ VALUE+ ------- ------ (000) BONDS -- (73.7%) AUSTRALIA -- (3.3%) BHP Billiton Finance USA, Ltd. 5.500%, 04/01/14............................. $ 960 $ 980,442 Commonwealth Bank of Australia 1.250%, 09/18/15............................. 4,780 4,836,132 National Australia Bank, Ltd. 5.500%, 05/20/15............................. EUR 6,500 9,487,697 Westpac Banking Corp. 4.200%, 02/27/15............................. 9,500 9,966,782 ----------- TOTAL AUSTRALIA.................................. 25,271,053 ----------- CANADA -- (6.1%) Bank of Nova Scotia 1.850%, 01/12/15............................. 6,400 6,503,782 3.400%, 01/22/15............................. 1,800 1,863,149 2.050%, 10/07/15............................. 2,500 2,567,370 Barrick Gold Finance Co. 4.875%, 11/15/14............................. 2,200 2,284,333 Enbridge, Inc. 5.800%, 06/15/14............................. 1,900 1,954,481 4.900%, 03/01/15............................. 1,500 1,579,136 Husky Energy, Inc. 5.900%, 06/15/14............................. 2,500 2,579,240 Ontario, Province of Canada 2.300%, 05/10/16............................. 5,000 5,196,160 Potash Corp. of Saskatchewan, Inc. 3.750%, 09/30/15............................. 1,830 1,926,485 Royal Bank of Canada 0.800%, 10/30/15............................. 2,500 2,511,975 2.625%, 12/15/15............................. 2,500 2,600,817 Thomson Reuters Corp. 5.700%, 10/01/14............................. 800 837,010 Toronto-Dominion Bank (The) 5.375%, 05/14/15............................. EUR 4,000 5,833,228 2.500%, 07/14/16............................. 2,500 2,603,477 TransAlta Corp. 4.750%, 01/15/15............................. 2,508 2,612,709 TransCanada PipeLines, Ltd. 3.400%, 06/01/15............................. 3,106 3,242,518 ----------- TOTAL CANADA..................................... 46,695,870 ----------- FRANCE -- (1.4%) Agence Francaise de Developpement 2.500%, 07/15/15............................. 3,000 3,098,520 BNP Paribas SA 3.250%, 03/11/15............................. 4,035 4,171,484 Orange SA 4.375%, 07/08/14............................. 3,231 3,307,549 2.125%, 09/16/15............................. 500 508,988 ----------- TOTAL FRANCE..................................... 11,086,541 ----------- FACE AMOUNT^ VALUE+ ------- ------ (000) GERMANY -- (0.4%) Deutsche Bank AG 3.875%, 08/18/14............................. $ 1,750 $ 1,796,307 3.250%, 01/11/16............................. 1,000 1,050,266 ----------- TOTAL GERMANY.................................... 2,846,573 ----------- JAPAN -- (1.6%) Japan Bank for International Cooperation 2.250%, 07/13/16............................. 8,000 8,303,824 Nomura Holdings, Inc. 5.000%, 03/04/15............................. 3,500 3,670,349 ----------- TOTAL JAPAN...................................... 11,974,173 ----------- NETHERLANDS -- (5.1%) Aegon NV 4.625%, 12/01/15............................. 3,489 3,736,754 Bank Nederlandse Gemeenten 2.750%, 07/01/15............................. 9,500 9,856,060 Cooperatieve Centrale Raiffeisen- Boerenleenbank BA 3.125%, 02/05/15............................. CAD 7,000 6,823,162 2.125%, 10/13/15............................. 7,000 7,186,669 Deutsche Telekom International Finance BV 4.875%, 07/08/14............................. 1,900 1,955,066 Nederlandse Waterschapsbank NV 2.000%, 09/09/15............................. 9,000 9,244,674 ----------- TOTAL NETHERLANDS................................ 38,802,385 ----------- SUPRANATIONAL ORGANIZATION OBLIGATIONS -- (1.5%) European Investment Bank 6.500%, 09/10/14............................. NZD 2,531 2,145,833 Nordic Investment Bank 7.500%, 04/15/15............................. NZD 11,000 9,607,162 ----------- TOTAL SUPRANATIONAL ORGANIZATION OBLIGATIONS..... 11,752,995 ----------- SWEDEN -- (3.8%) Nordea Bank AB 2.750%, 08/11/15............................. EUR 5,000 7,048,063 Svensk Exportkredit AB 2.125%, 07/13/16............................. 7,000 7,260,589 Svenska Handelsbanken AB 1.500%, 07/06/15............................. EUR 7,000 9,654,792 3.125%, 07/12/16............................. 5,000 5,256,480 ----------- TOTAL SWEDEN..................................... 29,219,924 ----------- 179 DFA COMMODITY STRATEGY PORTFOLIO CONTINUED FACE AMOUNT^ VALUE+ ------- ------ (000) SWITZERLAND -- (0.3%) Credit Suisse New York 5.500%, 05/01/14............................. $ 250 $ 256,292 3.500%, 03/23/15............................. 1,000 1,039,644 UBS AG 3.875%, 01/15/15............................. 1,163 1,207,444 ----------- TOTAL SWITZERLAND................................ 2,503,380 ----------- UNITED KINGDOM -- (3.6%) Barclays Bank P.L.C. 5.200%, 07/10/14............................. 1,500 1,548,627 BP Capital Markets P.L.C. 5.250%, 11/07/13............................. 3,500 3,501,015 British Telecommunications P.L.C. 2.000%, 06/22/15............................. 3,100 3,157,737 Lloyds Bank P.L.C. 4.875%, 01/21/16............................. 5,000 5,396,695 Rio Tinto Finance USA P.L.C. 1.125%, 03/20/15............................. 3,850 3,872,496 Royal Bank of Scotland Group P.L.C. 2.550%, 09/18/15............................. 6,300 6,452,334 Vodafone Group P.L.C. 4.150%, 06/10/14............................. 1,825 1,864,155 3.375%, 11/24/15............................. 2,000 2,098,058 ----------- TOTAL UNITED KINGDOM............................. 27,891,117 ----------- UNITED STATES -- (46.6%) AbbVie, Inc. 1.200%, 11/06/15............................. 4,000 4,027,968 ACE INA Holdings, Inc. 5.875%, 06/15/14............................. 1,250 1,291,344 2.600%, 11/23/15............................. 3,295 3,416,226 Aetna, Inc. 6.000%, 06/15/16............................. 1,496 1,687,507 Aflac, Inc. 3.450%, 08/15/15............................. 3,800 3,985,166 Air Products & Chemicals, Inc. 2.000%, 08/02/16............................. 3,615 3,712,612 Allstate Corp. (The) 5.000%, 08/15/14............................. 2,130 2,205,334 Altria Group, Inc. 4.125%, 09/11/15............................. 2,170 2,299,033 American Express Credit Corp. 5.125%, 08/25/14............................. 1,700 1,764,231 1.750%, 06/12/15............................. 1,200 1,221,452 2.750%, 09/15/15............................. 2,250 2,333,975 American International Group, Inc. 3.000%, 03/20/15............................. 6,000 6,172,836 Ameriprise Financial, Inc. 5.650%, 11/15/15............................. 1,625 1,781,575 Amgen, Inc. 1.875%, 11/15/14............................. 1,825 1,850,368 4.850%, 11/18/14............................. 1,000 1,044,713 FACE AMOUNT^ VALUE+ ------- ------ (000) UNITED STATES -- (Continued) Anheuser-Busch InBev Worldwide, Inc. 0.800%, 07/15/15............................. $ 2,000 $2,009,190 Apple, Inc. 0.450%, 05/03/16............................. 10,000 9,955,790 Assurant, Inc. 5.625%, 02/15/14............................. 2,000 2,027,674 AT&T, Inc. 2.500%, 08/15/15............................. 4,600 4,732,190 AutoZone, Inc. 6.950%, 06/15/16............................. 3,000 3,423,804 Bank of America Corp. 1.500%, 10/09/15............................. 5,000 5,043,090 3.750%, 07/12/16............................. 1,500 1,595,907 BB&T Corp. 5.700%, 04/30/14............................. 3,087 3,165,691 Berkshire Hathaway Finance Corp. 4.850%, 01/15/15............................. 5,000 5,262,540 BlackRock, Inc. 3.500%, 12/10/14............................. 2,000 2,067,870 Burlington Northern Santa Fe LLC 4.875%, 01/15/15............................. 200 210,117 Capital One Financial Corp. 6.250%, 11/15/13............................. 150 150,245 7.375%, 05/23/14............................. 1,189 1,232,737 2.150%, 03/23/15............................. 4,700 4,778,795 Cardinal Health, Inc. 4.000%, 06/15/15............................. 3,000 3,153,489 Caterpillar Financial Services Corp. 2.650%, 04/01/16............................. 5,000 5,213,965 CenterPoint Energy Resources Corp. 6.150%, 05/01/16............................. 5,000 5,589,525 Charles Schwab Corp. (The) 0.850%, 12/04/15............................. 3,000 3,003,879 Cisco Systems, Inc. 1.625%, 03/14/14............................. 1,550 1,557,810 Citigroup, Inc. 6.375%, 08/12/14............................. 636 663,907 5.300%, 01/07/16............................. 2,716 2,946,129 CNA Financial Corp. 5.850%, 12/15/14............................. 3,277 3,453,752 Coca-Cola Enterprises, Inc. 1.125%, 11/12/13............................. 1,607 1,607,227 Comcast Corp. 4.950%, 06/15/16............................. 3,500 3,861,242 Comerica, Inc. 3.000%, 09/16/15............................. 2,277 2,371,762 Computer Sciences Corp. 2.500%, 09/15/15............................. 3,558 3,643,705 180 DFA COMMODITY STRATEGY PORTFOLIO CONTINUED FACE AMOUNT^ VALUE+ ------- ------ (000) UNITED STATES -- (Continued) Consolidated Edison Co. of New York, Inc. 4.700%, 02/01/14............................. $ 400 $ 404,035 CVS Caremark Corp. 3.250%, 05/18/15............................. 1,000 1,039,406 Daimler Finance North America LLC 6.500%, 11/15/13............................. 2,100 2,103,564 DIRECTV Holdings LLC / DIRECTV Financing Co., Inc. 4.750%, 10/01/14............................. 1,500 1,555,052 3.500%, 03/01/16............................. 5,000 5,236,805 Dominion Resources, Inc. 5.150%, 07/15/15............................. 1,400 1,500,374 2.250%, 09/01/15............................. 5,000 5,132,045 Dow Chemical Co. (The) 2.500%, 02/15/16............................. 1,000 1,035,552 Eastman Chemical Co. 3.000%, 12/15/15............................. 1,000 1,040,022 Ecolab, Inc. 1.000%, 08/09/15............................. 2,000 2,005,328 Emerson Electric Co. 5.625%, 11/15/13............................. 1,200 1,201,766 Enbridge Energy Partners L.P. 5.350%, 12/15/14............................. 1,475 1,548,818 Energy Transfer Partners L.P. 5.950%, 02/01/15............................. 1,200 1,272,361 Enterprise Products Operating LLC 5.600%, 10/15/14............................. 2,666 2,790,894 EOG Resources, Inc. 2.950%, 06/01/15............................. 2,440 2,531,261 2.500%, 02/01/16............................. 1,325 1,374,307 Exelon Corp. 4.900%, 06/15/15............................. 500 529,780 Exelon Generation Co. LLC 5.350%, 01/15/14............................. 1,100 1,110,129 Express Scripts Holding Co. 2.100%, 02/12/15............................. 4,000 4,063,120 3.125%, 05/15/16............................. 1,975 2,072,462 Fifth Third Bancorp 3.625%, 01/25/16............................. 1,000 1,055,520 Fifth Third Bank 0.900%, 02/26/16............................. 2,000 1,992,132 Ford Motor Credit Co. LLC 12.000%, 05/15/15............................ 3,500 4,072,435 Freeport-McMoRan Copper & Gold, Inc. 1.400%, 02/13/15............................. 3,996 4,016,284 General Electric Capital Corp. 2.150%, 01/09/15............................. 6,000 6,119,154 1.625%, 07/02/15............................. 2,000 2,032,202 Gilead Sciences, Inc. 2.400%, 12/01/14............................. 3,000 3,056,091 FACE AMOUNT^ VALUE+ ------- ------ (000) UNITED STATES -- (Continued) Goldman Sachs Group, Inc. (The) 3.300%, 05/03/15............................. $ 3,500 $3,622,444 Google, Inc. 2.125%, 05/19/16............................. 6,000 6,224,196 Hartford Financial Services Group, Inc. 4.000%, 03/30/15............................. 1,400 1,460,812 Hess Corp. 7.000%, 02/15/14............................. 175 177,965 Hewlett-Packard Co. 2.625%, 12/09/14............................. 1,300 1,323,257 HSBC USA, Inc. 2.375%, 02/13/15............................. 2,000 2,046,018 Humana, Inc. 6.450%, 06/01/16............................. 4,500 5,043,060 Johnson Controls, Inc. 5.500%, 01/15/16............................. 1,282 1,402,513 JPMorgan Chase & Co. 3.700%, 01/20/15............................. 2,800 2,900,626 3.400%, 06/24/15............................. 1,000 1,041,719 KeyCorp 3.750%, 08/13/15............................. 3,000 3,150,111 Lorillard Tobacco Co. 3.500%, 08/04/16............................. 4,000 4,220,124 Lowe's Cos., Inc. 5.000%, 10/15/15............................. 1,050 1,137,528 Marathon Oil Corp. 0.900%, 11/01/15............................. 1,140 1,140,961 Marsh & McLennan Cos., Inc. 5.750%, 09/15/15............................. 1,916 2,082,361 Medtronic, Inc. 4.750%, 09/15/15............................. 1,087 1,170,416 MetLife, Inc. 2.375%, 02/06/14............................. 420 422,145 5.500%, 06/15/14............................. 1,250 1,288,560 5.000%, 06/15/15............................. 500 533,653 6.750%, 06/01/16............................. 3,000 3,437,859 Mondelez International, Inc. 4.125%, 02/09/16............................. 3,716 3,963,813 Morgan Stanley 3.800%, 04/29/16............................. 6,000 6,339,840 NASDAQ OMX Group, Inc. (The) 4.000%, 01/15/15............................. 2,800 2,896,152 NextEra Energy Capital Holdings, Inc. 2.550%, 11/15/13............................. 750 750,400 Occidental Petroleum Corp. 1.450%, 12/13/13............................. 1,000 1,001,215 Omnicom Group, Inc. 5.900%, 04/15/16............................. 1,750 1,948,935 ONEOK, Inc. 5.200%, 06/15/15............................. 1,000 1,061,186 PACCAR Financial Corp. 0.750%, 08/14/15............................. 2,000 2,008,570 181 DFA COMMODITY STRATEGY PORTFOLIO CONTINUED FACE AMOUNT^ VALUE+ ------- ------ (000) UNITED STATES -- (Continued) PepsiCo, Inc. 0.700%, 08/13/15............................. $ 5,595 $5,607,096 Plains All American Pipeline L.P. / PAA Finance Corp. 3.950%, 09/15/15............................. 2,830 2,991,780 PNC Funding Corp. 5.400%, 06/10/14............................. 2,075 2,136,161 4.250%, 09/21/15............................. 600 638,531 PPG Industries, Inc. 1.900%, 01/15/16............................. 2,050 2,084,602 Procter & Gamble Co. (The) 4.500%, 05/12/14............................. EUR 4,000 5,547,927 Progress Energy, Inc. 5.625%, 01/15/16............................. 2,000 2,198,458 Prudential Financial, Inc. 3.875%, 01/14/15............................. 1,000 1,037,274 6.200%, 01/15/15............................. 2,448 2,604,883 Quest Diagnostics, Inc. 5.450%, 11/01/15............................. 4,000 4,325,932 Qwest Corp. 7.500%, 10/01/14............................. 2,300 2,430,401 Reynolds American, Inc. 1.050%, 10/30/15............................. 4,000 4,006,504 Safeway, Inc. 5.625%, 08/15/14............................. 4,500 4,626,990 Sempra Energy 2.000%, 03/15/14............................. 416 418,176 Sherwin-Williams Co. (The) 3.125%, 12/15/14............................. 1,048 1,077,526 Southern Power Co. 4.875%, 07/15/15............................. 3,660 3,904,235 Spectra Energy Capital LLC 5.500%, 03/01/14............................. 1,500 1,522,094 5.668%, 08/15/14............................. 955 991,163 SunTrust Banks, Inc. 3.600%, 04/15/16............................. 4,000 4,242,620 Target Corp. 5.875%, 07/15/16............................. 325 369,446 TD Ameritrade Holding Corp. 4.150%, 12/01/14............................. 2,350 2,438,064 Textron, Inc. 6.200%, 03/15/15............................. 1,500 1,602,257 Thermo Fisher Scientific, Inc. 3.200%, 05/01/15............................. 2,250 2,320,697 2.250%, 08/15/16............................. 2,953 3,019,587 Time Warner Cable, Inc. 3.500%, 02/01/15............................. 4,000 4,114,304 Toyota Motor Credit Corp. 1.000%, 02/17/15............................. 3,000 3,024,282 0.875%, 07/17/15............................. 2,000 2,014,134 Union Bank NA 2.125%, 12/16/13............................. 1,400 1,403,023 3.000%, 06/06/16............................. 1,000 1,053,850 FACE AMOUNT^ VALUE+ ------- ------ (000) UNITED STATES -- (Continued) UnitedHealth Group, Inc. 5.000%, 08/15/14............................. $ 1,170 $ 1,212,522 Valero Energy Corp. 4.750%, 04/01/14............................. 1,125 1,144,494 4.500%, 02/01/15............................. 900 940,535 Verizon Communications, Inc. 0.700%, 11/02/15............................. 3,000 2,990,118 5.550%, 02/15/16............................. 2,400 2,637,326 Viacom, Inc. 4.375%, 09/15/14............................. 1,229 1,268,054 Walgreen Co. 1.000%, 03/13/15............................. 3,720 3,734,162 Walt Disney Co. (The) 0.875%, 12/01/14............................. 1,500 1,509,917 WellPoint, Inc. 5.000%, 12/15/14............................. 2,500 2,619,695 5.250%, 01/15/16............................. 3,000 3,271,287 Wells Fargo & Co. 3.750%, 10/01/14............................. 2,300 2,369,591 1.250%, 02/13/15............................. 1,000 1,008,132 1.500%, 07/01/15............................. 2,500 2,534,633 Williams Partners L.P. 3.800%, 02/15/15............................. 2,300 2,383,414 Xerox Corp. 4.250%, 02/15/15............................. 3,500 3,645,974 Yum! Brands, Inc. 4.250%, 09/15/15............................. 2,485 2,636,985 Zimmer Holdings, Inc. 1.400%, 11/30/14............................. 1,000 1,005,338 ------------ TOTAL UNITED STATES................................ 357,867,884 ------------ TOTAL BONDS........................................ 565,911,895 ------------ AGENCY OBLIGATIONS -- (15.7%) Federal Home Loan Bank 0.375%, 06/24/16............................. 15,000 14,977,785 Federal Home Loan Mortgage Corporation 5.250%, 04/18/16............................. 30,000 33,478,110 Federal National Mortgage Association 0.500%, 03/30/16............................. 72,000 72,011,016 ------------ TOTAL AGENCY OBLIGATIONS........................... 120,466,911 ------------ U.S. TREASURY OBLIGATIONS -- (10.6%) U.S. Treasury Notes ++^^ 0.375%, 11/15/15............................. 53,000 53,049,714 1.000%, 10/31/16............................. 28,000 28,330,316 ------------ TOTAL U.S. TREASURY OBLIGATIONS.................... 81,380,030 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $764,976,576)................................ $767,758,836 ============ 182 DFA COMMODITY STRATEGY PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) --------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL --------- ------------ ------- ------------ Bonds Australia.............................. -- $ 25,271,053 -- $ 25,271,053 Canada................................. -- 46,695,870 -- 46,695,870 France................................. -- 11,086,541 -- 11,086,541 Germany................................ -- 2,846,573 -- 2,846,573 Japan.................................. -- 11,974,173 -- 11,974,173 Netherlands............................ -- 38,802,385 -- 38,802,385 Supranational Organization Obligations. -- 11,752,995 -- 11,752,995 Sweden................................. -- 29,219,924 -- 29,219,924 Switzerland............................ -- 2,503,380 -- 2,503,380 United Kingdom......................... -- 27,891,117 -- 27,891,117 United States.......................... -- 357,867,884 -- 357,867,884 Agency Obligations....................... -- 120,466,911 -- 120,466,911 U.S. Treasury Obligations................ -- 81,380,030 -- 81,380,030 Swap Agreements**........................ -- (5,585,539) -- (5,585,539) Futures Contracts**...................... $(567,936) -- -- (567,936) Forward Currency Contracts**............. -- (785,037) -- (785,037) --------- ------------ -- ------------ TOTAL.................................... $(567,936) $761,388,260 -- $760,820,324 ========= ============ == ============ **Not reflected in the Schedule of Investments, valued at the unrealized appreciation/(depreciation) on the investment. (Note H) See accompanying Notes to Financial Statements. 183 DFA INVESTMENT DIMENSIONS GROUP INC. DFA COMMODITY STRATEGY PORTFOLIO CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS) ASSETS: Investments at Value................................................................... $ 767,759 Temporary Cash......................................................................... 10,380 Segregated Cash for Swap Contracts..................................................... 1,665 Cash................................................................................... 6,395 Receivables: Interest............................................................................. 5,481 Fund Shares Sold..................................................................... 1,649 Unrealized Gain on Swap Contracts...................................................... 7,681 Unrealized Gain on Forward Currency Contracts.......................................... 171 Prepaid Expenses and Other Assets...................................................... 36 ------------ Total Assets...................................................................... 801,217 ------------ LIABILITIES: Payables: Due to Custodian..................................................................... 3 Fund Shares Redeemed................................................................. 279 Due to Advisor....................................................................... 198 Futures Margin Variation............................................................. 109 Unrealized Loss on Swap Contracts...................................................... 13,267 Unrealized Loss on Forward Currency Contracts.......................................... 956 Accrued Expenses and Other Liabilities................................................. 91 ------------ Total Liabilities................................................................. 14,903 ------------ NET ASSETS............................................................................. $ 786,314 ============ SHARES OUTSTANDING, $0.01 PAR VALUE (1)................................................ 94,697,328 ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE............................... $ 8.30 ============ Investments at Cost.................................................................... $ 764,977 ============ NET ASSETS CONSIST OF: Paid-In Capital........................................................................ $ 788,190 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income). 1,500 Accumulated Net Realized Gain (Loss)................................................... 770 Net Unrealized Foreign Exchange Gain (Loss)............................................ (774) Net Unrealized Appreciation (Depreciation)............................................. (3,372) ------------ NET ASSETS............................................................................. $ 786,314 ============ (1) NUMBER OF SHARES AUTHORIZED........................................................ 100,000,000 ============ See accompanying Notes to Financial Statements. 184 DFA INVESTMENT DIMENSIONS GROUP INC. DFA COMMODITY STRATEGY PORTFOLIO CONSOLIDATED STATEMENT OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS) INVESTMENT INCOME Interest........................................................................................ $ 6,268 -------- Total Investment Income...................................................................... 6,268 -------- EXPENSES Investment Advisory Services Fees............................................................... 2,227 Accounting & Transfer Agent Fees................................................................ 58 Custodian Fees.................................................................................. 25 Filing Fees..................................................................................... 87 Shareholders' Reports........................................................................... 41 Directors'/Trustees' Fees & Expenses............................................................ 6 Professional Fees............................................................................... 49 Other........................................................................................... 16 -------- Total Expenses............................................................................... 2,509 -------- Fees (Waived), Expenses Reimbursed, and/or Previously Waived Fees Recovered by Advisor (Note D). (345) Fees Paid Indirectly............................................................................ (24) -------- Net Expenses.................................................................................... 2,140 -------- NET INVESTMENT INCOME (LOSS).................................................................... 4,128 -------- REALIZED AND UNREALIZED GAIN (LOSS) Net Realized Gain (Loss) on: Investment Securities Sold.................................................................... 952 Futures....................................................................................... (1,683) Swap Contracts................................................................................ (68,369) Foreign Currency Transactions................................................................. (1,229) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.................................................... 75 Futures....................................................................................... (717) Swap Contracts................................................................................ (6,861) Translation of Foreign Currency Denominated Amounts........................................... 715 -------- NET REALIZED AND UNREALIZED GAIN (LOSS)......................................................... (77,117) -------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS................................... $(72,989) ======== See accompanying Notes to Financial Statements. 185 DFA INVESTMENT DIMENSIONS GROUP INC. DFA COMMODITY STRATEGY PORTFOLIO CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS (AMOUNTS IN THOUSANDS) YEAR YEAR ENDED ENDED OCT. 31, OCT. 31, 2013 2012 --------- --------- INCREASE (DECREASE) IN NET ASSETS Operations: Net Investment Income (Loss)......................................................... $ 4,128 $ 2,616 Net Realized Gain (Loss) on: Investment Securities Sold......................................................... 952 1,207 Futures............................................................................ (1,683) (2,170) Swap Contracts..................................................................... (68,369) (17,151) Foreign Currency Transactions...................................................... (1,229) 1,374 Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency......................................... 75 1,848 Futures............................................................................ (717) 112 Swap Contracts..................................................................... (6,861) 3,344 Translation of Foreign Currency Denominated Amounts................................ 715 (1,489) --------- --------- Net Increase (Decrease) in Net Assets Resulting from Operations................... (72,989) (10,309) --------- --------- Distributions From: Net Investment Income: Institutional Class Shares......................................................... (2,493) (2,038) Net Short-Term Gains: Institutional Class Shares......................................................... (472) (151) Net Long-Term Gains: Institutional Class Shares......................................................... (472) -- --------- --------- Total Distributions............................................................... (3,437) (2,189) --------- --------- Capital Share Transactions (1): Shares Issued........................................................................ 552,864 371,713 Shares Issued in Lieu of Cash Distributions.......................................... 3,267 2,084 Shares Redeemed...................................................................... (151,470) (134,001) --------- --------- Net Increase (Decrease) from Capital Share Transactions........................... 404,661 239,796 --------- --------- Total Increase (Decrease) in Net Assets........................................... 328,235 227,298 NET ASSETS Beginning of Year.................................................................... 458,079 230,781 --------- --------- End of Year.......................................................................... $ 786,314 $ 458,079 ========= ========= (1) SHARES ISSUED AND REDEEMED: Shares Issued........................................................................ 63,019 39,879 Shares Issued in Lieu of Cash Distributions.......................................... 366 232 Shares Redeemed...................................................................... (17,417) (14,994) --------- --------- Net Increase (Decrease) from Shares Issued and Redeemed........................... 45,968 25,117 ========= ========= UNDISTRIBUTED NET INVESTMENT INCOME (DISTRIBUTIONS IN EXCESS OF NET INVESTMENT INCOME). $ 1,500 $ 1,816 See accompanying Notes to Financial Statements. 186 DFA INVESTMENT DIMENSIONS GROUP INC. DFA COMMODITY STRATEGY PORTFOLIO CONSOLIDATED FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) YEAR YEAR ENDED ENDED OCT. 31, OCT. 31, 2013 2012 -------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period..................................................................... $ 9.40 $ 9.77 -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)....................................................................... 0.06 0.07 Net Gains (Losses) on Securities (Realized and Unrealized)............................................. (1.10) (0.37) -------- -------- Total from Investment Operations...................................................................... (1.04) (0.30) -------------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income.................................................................................. (0.04) (0.06) Net Realized Gains..................................................................................... (0.02) (0.01) -------- -------- Total Distributions................................................................................... (0.06) (0.07) -------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Period........................................................................... $ 8.30 $ 9.40 ========================================================================================================= ======== ======== Total Return............................................................................................. (11.15)% (3.08)% -------------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands).................................................................... $786,314 $458,079 Ratio of Expenses to Average Net Assets.................................................................. 0.34% 0.35% Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly)........................................................ 0.40% 0.41% Ratio of Net Investment Income to Average Net Assets..................................................... 0.66% 0.79% Portfolio Turnover Rate.................................................................................. 64% 69% -------------------------------------------------------------------------------------------------------------------------------- PERIOD NOV. 9, 2010(A) TO OCT. 31, 2011 ---------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period..................................................................... $ 10.00 -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)....................................................................... 0.07 Net Gains (Losses) on Securities (Realized and Unrealized)............................................. (0.27) -------- Total from Investment Operations...................................................................... (0.20) ---------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income.................................................................................. (0.03) Net Realized Gains..................................................................................... -- -------- Total Distributions................................................................................... (0.03) ---------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Period........................................................................... $ 9.77 ========================================================================================================= =============== Total Return............................................................................................. (2.02)%(D) ---------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands).................................................................... $230,781 Ratio of Expenses to Average Net Assets.................................................................. 0.47%(C)(E) Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly)........................................................ 0.53%(C)(E) Ratio of Net Investment Income to Average Net Assets..................................................... 0.64%(C)(E) Portfolio Turnover Rate.................................................................................. 50%(D) ---------------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 187 DFA INVESTMENT DIMENSIONS GROUP INC. CONSOLIDATED NOTES TO FINANCIAL STATEMENTS A. ORGANIZATION: DFA Investment Dimensions Group Inc. (the "Fund") is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the "1940 Act"), whose shares are generally offered, without a sales charge, to institutional investors, retirement plans and clients of registered investment advisors. The Fund consists of seventy-six operational portfolios, one of which, DFA Commodity Strategy Portfolio (the "Portfolio"), is included in this section of the report. The remaining operational portfolios are presented in separate reports. The Portfolio wholly owns and controls Dimensional Cayman Commodity Fund I, LTD. (the "Subsidiary"), a company organized under the laws of the Cayman Islands. The Subsidiary is not registered as an investment company under the 1940 Act. B. SIGNIFICANT ACCOUNTING POLICIES: The following significant accounting policies are in conformity with accounting principles generally accepted in the United States of America. Such policies are consistently followed by the Fund in preparation of its financial statements. The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the fair value of investments, the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates and those differences could be material. 1. SECURITY VALUATION: The Portfolio utilizes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels described below: . Level 1 - inputs are quoted prices in active markets for identical securities (including equity securities, open-end investment companies, futures contracts) . Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) . Level 3 - significant unobservable inputs (including the Portfolio's own assumptions in determining the fair value of investments) Debt securities held by the Portfolio are valued on the basis of evaluated prices provided by one or more pricing services or other reasonably reliable sources including broker/dealers that typically handle the purchase and sale of such securities. Securities which are traded over-the-counter and on a stock exchange generally will be valued according to the broadest and most representative market, and it is expected that for bonds and other fixed income securities, this ordinarily will be the over-the-counter market. Securities for which quotations are not readily available (including restricted securities), or for which market quotations have become unreliable, are valued in good faith at fair value in accordance with procedures adopted by the Board of Directors/Trustees. These valuations are generally categorized as Level 2 in the hierarchy. Futures contracts held by the Portfolio are valued using the settlement price established each day on the exchange on which they are traded. These valuations are generally categorized as Level 1 in the hierarchy. Swap contracts generally are valued at a price at which the counterparties to such contracts would repurchase the instrument or terminate the contracts. These valuations are categorized as Level 2 in the hierarchy. Over-the-counter derivative contracts, which include forward currency contracts, do not require material subjectivity as pricing inputs are observed from quoted markets and are categorized as Level 2 in the hierarchy. 188 A summary of the inputs used to value the Portfolio's investments by each major security type, industry and/or country is disclosed previously in this note. A valuation hierarchy table has been included at the end of the Schedule of Investments. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For the year ended October 31, 2013, there were no significant transfers between Level 1 and Level 2 and no Level 3 investments held by the Portfolio. 2. DEFERRED COMPENSATION PLAN: Each eligible Director/Trustee of the Fund may elect participation in The Fee Deferral Plan for Independent Directors and Trustees (the "Plan"). Under the Plan, effective January 1, 2002, such Directors/Trustees may defer payment of all or a portion of their total fees earned as a Director/Trustee. These deferred amounts may be treated as though such amounts had been invested in shares of the following funds: U.S. Large Cap Value Portfolio; U.S. Core Equity 1 Portfolio; U.S. Core Equity 2 Portfolio; U.S. Vector Equity Portfolio; U.S. Micro Cap Portfolio; DFA International Value Portfolio; International Core Equity Portfolio; Emerging Markets Portfolio; Emerging Markets Core Equity Portfolio; and/or DFA Two-Year Global Fixed Income Portfolio. Contributions made under the Plan and the change in unrealized appreciation (depreciation) and income are included in Directors'/Trustees' Fees & Expenses. Each Director/Trustee has the option to receive their distribution of proceeds in one of the following methods: lump sum; annual installments over a period of agreed upon years; or quarterly installments over a period of agreed upon years. Each Director/Trustee shall have the right in a notice of election (the "Notice") to defer the receipt of the Director's/Trustee's deferred compensation until a date specified by such Director/Trustee in the Notice, which date may not be sooner than the earlier of: (i) the first business day of January following the year in which such Director/Trustee ceases to be a member of the Board; and (ii) five years following the effective date of the Director's/Trustee's first deferral election. If a Director/Trustee who elects to defer fees fails to designate in the Notice a time or date as of which payment of the Director's/Trustee's deferred fee account shall commence, payment of such amount shall commence as of the first business day of January following the year in which the Director/Trustee ceases to be a member of the Board (unless the Director/Trustee files an amended Notice selecting a different distribution date). As of October 31, 2013, none of the Directors/Trustees have requested or received a distribution of proceeds of a deferred fee account. 3. OTHER: Security transactions are accounted for as of the trade date. Costs used in determining realized gains and losses on the sale of investment securities and foreign currency are on the basis of identified cost. Dividend income and distributions to shareholders are recorded on the ex-dividend date. Distributions received on securities that represent a return of capital or capital gains are recorded as a reduction of cost of investments or as a realized gain, respectively. The Portfolio estimates the character of distributions received that may be considered return of capital distributions. Interest income is recorded on an accrual basis. Discount and premium on debt securities purchased are amortized over the lives of the respective securities, utilizing the effective interest method. Expenses directly attributable to the Portfolio are directly charged. Common expenses of the Fund or its Portfolios are allocated using methods approved by the Board, generally based on average net assets. C. BASIS FOR CONSOLIDATION: The Subsidiary commenced operations on November 9, 2010. The Portfolio commenced reporting on a consolidated basis as of such commencement date in accordance with the accounting principles relating to reporting of a wholly-owned subsidiary. The Portfolio will seek to gain exposure to commodities, commodities-related instruments, derivatives and other investments by directly investing in those instruments or through investments in the Subsidiary. The Subsidiary participates in the same investment goal as the Portfolio. The Subsidiary pursues its investment goal by investing in commodities, commodities-related instruments, derivatives and other investments. The Subsidiary (unlike the Portfolio) may invest without limitation in these instruments. However, the Subsidiary is otherwise subject to the same fundamental, non-fundamental and certain other investment restrictions as the Portfolio. The portion of the Portfolio's or Subsidiary's assets exposed to any particular commodity, derivative or other investment will vary based on market conditions, but from time to time some exposure could be substantial. 189 To the extent of the Portfolio's investment through the Subsidiary, it will be subject to the risks associated with the commodities, derivatives and other instruments in which the Subsidiary invests. By investing in the Subsidiary, the Portfolio is indirectly exposed to the risks associated with the Subsidiary's investments. The derivatives and other investments held by the Subsidiary are generally similar to those that are permitted to be held by the Portfolio and are subject to the same risks that apply to similar investments if held directly by the Portfolio. The Subsidiary is classified as a controlled foreign corporation under Subchapter M of the Internal Revenue Code. Therefore, the Portfolio is required to increase its taxable income by its share of the Subsidiary's income. Net investment losses of the Subsidiary cannot be deducted by the Portfolio in the current period nor carried forward to offset taxable income in future periods. As of October 31, 2013, the Portfolio held $140,511,030 in the Subsidiary, representing 17.54% of the Portfolio's total assets. The accompanying consolidated financial statements include all assets, liabilities, revenues and expenses of the Portfolio and its wholly-owned Subsidiary. The accompanying consolidated financial statements include the accounts of the Subsidiary. Intercompany balances and transactions have been eliminated in consolidation. D. INVESTMENT ADVISOR: The Advisor, Dimensional Fund Advisors LP, provides investment advisory services to the Portfolio. For the year ended October 31, 2013, the investment advisory services fees were accrued daily and paid monthly to the Advisor based on an effective annual rate of 0.30% of the Portfolio's average daily net assets. Pursuant to an Amended and Restated Fee Waiver and/or Expense Assumption Agreement, the Advisor has contractually agreed to waive all or a portion of the management fee and to assume the expenses of the Portfolio (including the expenses that the Portfolio bears as a shareholder of other funds managed by the Advisor but excluding the expenses that the Portfolio incurs indirectly through its investment in unaffiliated investment companies and excluding any applicable 12b-1 fees) ("Portfolio Expenses") to the extent necessary to limit the Portfolio Expenses to no more than 0.55% of the Portfolio's average net assets on an annualized basis (the "Expense Limitation Amount"). At any time that the Portfolio Expenses of the Portfolio are less than the Expense Limitation Amount, the Advisor retains the right to seek reimbursement for any fees previously waived and/or expenses previously assumed to the extent that the amount of such reimbursement will not cause the annualized Portfolio Expenses of the Portfolio to exceed the Expense Limitation Amount. The Portfolio is not obligated to reimburse the Advisor for fees previously waived or expenses previously assumed by the Advisor more than thirty-six months before the date of such reimbursement. The Fee Waiver Agreement for the Portfolio will remain in effect through February 28, 2014, and may not be terminated by the Advisor prior to that date. At October 31, 2013, there were no previously waived fees subjected to future recovery by the Advisor. The Subsidiary has entered into a separate contract with the Advisor whereby the Advisor or its affiliates provide investment advisory and other services to the Subsidiary. For the investment advisory services it provides, the Advisor is entitled to a fee from the Subsidiary equal to 0.30% of the Subsidiary's average net assets on an annualized basis; however, pursuant to a contractual agreement, the Advisor has agreed to waive the management fee of the Subsidiary. For the year ended October 31, 2013, approximately $345 (in thousands) of the Subsidiary's management fees were waived pursuant to the Subsidiary fee waiver agreement. EARNED INCOME CREDIT: In addition, the Portfolio has entered into an arrangement with its custodian whereby net interest earned on uninvested cash balances was used to reduce a portion of the Portfolio's custody expenses. Custody expense in the accompanying financial statements is presented before reduction for credits. During the year ended October 31, 2013, expenses reduced were as follows (amounts in thousands): FEES PAID INDIRECTLY ---------- DFA Commodity Strategy Portfolio. $24 190 FEES PAID TO OFFICERS AND DIRECTORS/TRUSTEES: Certain Officers and Directors/Trustees of the Advisor are also Officers and Directors/Trustees of the Fund; however, such Officers and Directors/Trustees (with the exception of the Chief Compliance Officer ("CCO")) receive no compensation from the Fund. For the year ended October 31, 2013, the total related amounts paid by the Fund to the CCO were $250 (amount in thousands). The total related amounts paid by the Portfolio are included in Other Expenses on the Statement of Operations. E. DEFERRED COMPENSATION: At October 31, 2013, the total liability for deferred compensation to Directors/Trustees is included in Accrued Expenses and Other Liabilities on the Statement of Assets and Liabilities as follows (amount in thousands): DFA Commodity Strategy Portfolio. $5 F. PURCHASES AND SALES OF SECURITIES: For the year ended October 31, 2013, the Portfolio made the following purchases and sales of investment securities, other than short-term securities (amounts in thousands): U.S. GOVERNMENT OTHER INVESTMENT SECURITIES SECURITIES ------------------ ------------------ PURCHASES SALES PURCHASES SALES --------- -------- --------- -------- DFA Commodity Strategy Portfolio. $264,251 $162,427 $455,344 $222,937 G. FEDERAL INCOME TAXES: The Portfolio has qualified and intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code for federal income tax purposes and to distribute substantially all of its taxable income and net capital gains to shareholders. Accordingly, no provision has been made for federal income taxes. Distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from those amounts determined under accounting principles generally accepted in the United States of America. These book/tax differences are either temporary or permanent in nature. To the extent these differences are permanent, they are charged or credited to paid-in capital, undistributed net investment income or accumulated net realized gains or losses, as appropriate, in the period that the differences arise. Accordingly, the following permanent differences as of October 31, 2013, primarily attributable to adjustments between financial and tax reporting related to the Subsidiary, the utilization of accumulated earnings and profits distributed to shareholders on redemptions of shares as part of the dividends paid deduction for tax purposes, reversal of bank income/loss from controlled foreign corporation and net foreign currency gains/losses, were reclassified to the following accounts. These reclassifications had no effect on net assets or net asset value per share (amounts in thousands): INCREASE INCREASE (DECREASE) (DECREASE) INCREASE UNDISTRIBUTED ACCUMULATED (DECREASE) NET INVESTMENT NET REALIZED PAID-IN CAPITAL INCOME GAINS (LOSSES) --------------- -------------- -------------- DFA Commodity Strategy Portfolio. $(69,244) $(1,951) $71,195 The tax character of dividends and distributions declared and paid during the years ended October 31, 2012 and October 31, 2013 were as follows (amounts in thousands): NET INVESTMENT INCOME AND SHORT-TERM LONG-TERM CAPITAL GAINS CAPITAL GAINS TOTAL -------------- ------------- ------ DFA Commodity Strategy Portfolio 2012............................. $2,410 $ 37 $2,447 2013............................. 2,965 472 3,437 191 At October 31, 2013, the components of distributable earnings (accumulated losses) were as follows (amounts in thousands): UNDISTRIBUTED TOTAL NET NET INVESTMENT DISTRIBUTABLE INCOME AND UNDISTRIBUTED UNREALIZED EARNINGS SHORT-TERM LONG-TERM APPRECIATION (ACCUMULATED CAPITAL GAINS CAPITAL GAINS (DEPRECIATION) LOSSES) -------------- ------------- -------------- ------------- DFA Commodity Strategy Portfolio. $1,150 $451 $(3,362) $(1,761) For federal income tax purposes, the Fund measures its capital loss carryforwards annually at October 31, its fiscal year end. Capital loss carryforwards may be carried forward and applied against future capital gains. Under the Regulated Investment Company Modernization Act of 2010, capital losses incurred by the Portfolio after October 31, 2011 will not be subject to expiration and will retain their character as either short-term or long-term capital losses. In addition, such losses must be utilized prior to the losses incurred in the years preceding enactment. As of October 31, 2013, the Portfolio did not have any capital loss carryforwards. At October 31, 2013, the total cost and aggregate gross unrealized appreciation and (depreciation) of securities for federal income tax purposes were different from amounts reported for financial reporting purposes (amounts in thousands): NET UNREALIZED FEDERAL UNREALIZED UNREALIZED APPRECIATION TAX COST APPRECIATION DEPRECIATION (DEPRECIATION) -------- ------------ ------------ -------------- DFA Commodity Strategy Portfolio. $764,977 $3,782 $(1,000) $2,782 Accounting for Uncertainty in Income Taxes sets forth a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. Management has analyzed the Portfolio's tax positions and has concluded that no additional provision for income tax is required in the Portfolio's financial statements. The Portfolio is not aware of any tax positions for which it is more likely than not that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. The Portfolio's federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service. H. FINANCIAL INSTRUMENTS: In accordance with the Portfolio's investment objective and policies, the Portfolio may invest in certain financial instruments that have off-balance sheet risk in excess of the amounts recognized in the financial statements and concentrations of credit and market risk. These instruments and their significant corresponding risks are described below: 1. FOREIGN MARKET RISKS: Investments in foreign markets may involve certain considerations and risks not typically associated with investments in the United States of America, including the possibility of future political and economic developments and the level of foreign governmental supervision and regulation of foreign securities markets. These markets are generally smaller, less liquid and more volatile than the major securities markets in the United States of America. Consequently, acquisition and disposition of international securities held by the Portfolio may be inhibited. DERIVATIVE FINANCIAL INSTRUMENTS: Summarized below are the specific types of derivative instruments used by the Portfolio. The Portfolio may gain exposure to commodity markets by investing up to 25% of the Portfolio's total assets in the Subsidiary. The Subsidiary may invest without limitation in commodity-linked notes, swap agreements and other commodity-linked derivative instruments, including futures contracts on individual commodities or a subset of commodities and options on commodities. The accompanying consolidated schedule of investments includes investments of the Portfolio and its wholly-owned Subsidiary. 192 2. FORWARD CURRENCY CONTRACTS: The Portfolio may enter into forward currency contracts to hedge against adverse changes in the relationship of the U.S. dollar to foreign currencies (foreign exchange rate risk). The decision to hedge the Portfolio's currency exposure with respect to a foreign market will be based primarily on the Portfolio's existing exposure to a given foreign currency. Each contract is valued daily and the change in value is recorded by the Portfolio as an unrealized gain or loss, which is presented in the Statements of Operations as the change in unrealized appreciation or depreciation from translation of foreign currency denominated amounts. When the contract is closed or offset with the same counterparty, the Portfolio records a realized gain or loss equal to the change in the value of the contract when it was opened and the value at the time it was closed or offset. This is presented in the Statements of Operations as a net realized gain or loss on foreign currency transactions. At October 31, 2013, the Portfolio had entered into the following contracts and the net unrealized foreign exchange gain (loss) is reflected in the accompanying financial statements (amounts in thousands): DFA COMMODITY STRATEGY PORTFOLIO* UNREALIZED VALUE AT FOREIGN SETTLEMENT CURRENCY CONTRACT OCTOBER 31, EXCHANGE DATE AMOUNT** CURRENCY AMOUNT 2013 GAIN (LOSS) ---------- -------- ------------------ -------- ----------- ----------- 11/19/13 (7,176) Canadian Dollar $ (6,965) $ (6,879) $ 86 11/18/13 5,416 Euro 7,409 7,353 (56) 11/18/13 (33,550) Euro (44,654) (45,554) (900) 11/18/13 (14,349) New Zealand Dollar (11,926) (11,841) 85 -------- -------- ----- $(56,136) $(56,921) $(785) ======== ======== ===== * During the year ended October 31, 2013, the Portfolio's average contract amount of forward currency contracts was $109,168 (in thousands): **Positive Currency Amount represents a purchase contract and a Currency Amount in parentheses represents a sale contract. Risks may arise upon entering into these contracts from the potential inability of counterparties to meet the terms of their contracts and from unanticipated movements in the value of foreign currency relative to the U.S. dollar. 3. COMMODITY-LINKED DERIVATIVES: The Portfolio and the Subsidiary invest in commodity-linked derivative instruments, such as swap agreements, commodity options, futures, options on futures, and structured notes. The prices of commodity-linked derivative instruments may move in different directions than investments in traditional equity securities, fixed income securities and commodity spot prices. 4. SWAP AGREEMENTS: The Portfolio may enter into swap agreements with respect to commodities, interest rates and indexes of commodities or securities, specific securities and commodities, and mortgage, credit and event-linked swaps, and to the extent the Portfolio may invest in foreign currency-denominated securities, may enter into swap agreements with respect to foreign currencies. The Portfolio may enter into swap transactions for any legal purpose consistent with its investment objective and policies, such as for the purpose of attempting to obtain or preserve a particular return or spread at a lower cost than obtaining a return or spread through purchases and/or sales of instruments in other markets, to seek to increase total return (speculation), to protect against currency fluctuations, as a duration management technique, to protect against any increase in the price of securities the Portfolio anticipates purchasing at a later date, or to gain exposure to certain markets in the most economical way possible. A swap agreement may be negotiated bilaterally and traded over-the-counter between the two parties (for an uncleared swap) or, in some instances, must be transacted through an futures commission merchant ("FCM") and cleared through a clearinghouse that serves as a central counterparty (for a cleared swap). Swap agreements are contracts entered into primarily by institutional investors for periods ranging from a few weeks to more than one year. In a standard "swap" transaction, two parties agree to exchange the returns (or differentials in rates of return) earned or realized on particular predetermined investments or instruments, which may be adjusted for an interest 193 factor. In an uncleared swap, the swap counterparty is typically a brokerage firm, bank or other financial institution. In a cleared swap, the Portfolio's ultimate counterparty is a central clearinghouse rather than a brokerage firm, bank or other financial institution. An investment in a commodity swap agreement may involve the exchange of floating-rate interest payments for the total return on a commodity index. In a total return commodity swap, the Portfolio will receive the price appreciation of a commodity index, a portion of the index, or a single commodity in exchange for paying an agreed-upon fee. The Portfolio may also enter into credit default swap agreements. The "buyer" in a credit default contract is obligated to pay the "seller" a periodic stream of payments over the term of the contract provided that no event of default on an underlying reference obligation has occurred. If an event of default occurs, the seller must pay the buyer the full notional value, or "par value," of the reference obligation in exchange for the reference obligation. The Portfolio may be either the buyer or seller in a credit default swap transaction. Credit default swap transactions involve greater risks than if the Portfolio had invested in the reference obligation directly. Most swap agreements entered into by the Portfolio will calculate the obligations of the parties to the agreement on a "net" basis, which means that the two payment streams are netted out, with the Portfolio receiving or paying, as the case may be, only the net amount of the two payments. The Portfolio's current obligations under a swap agreement will be accrued daily (offset against any amounts owed to the Portfolio) and any accrued but unpaid net amounts owed to a swap counterparty will be covered by the segregation of assets determined to be liquid to avoid any potential leveraging of the Portfolio's portfolio. Because uncleared swaps are two-party contracts and may have terms of greater than seven days, these swap agreements may be considered to be illiquid. In addition, because uncleared swaps are not traded on exchanges, the Portfolio bears the risk of loss of the amount expected to be received under a swap agreement in the event of the default or bankruptcy of a swap agreement counterparty beyond any collateral received. The types of swap agreements in which the Portfolio invests do not involve the delivery of securities, other underlying assets, or principal. Accordingly, the risk of loss is limited to the net amount of interest payments that the Portfolio is contractually obligated to make or receive. Central clearing is designed to reduce counterparty credit risk and increase liquidity compared to uncleared swaps because central clearing interposes the central clearinghouse as the counterparty to each participant's swap, but it does not eliminate those risks completely. Among other risks, there is a risk of loss by the Portfolio of the initial and variation margin deposits in the event of bankruptcy of the FCM with which the Portfolio has an open position in a swap contract. FUTURES ACTIVITIES: The Portfolio may enter into commodity, foreign currency, interest rate and commodity or securities index futures contracts and purchase and write (sell) related options traded on exchanges designated by the Commodity Futures Trading Commission ("CFTC") or, consistent with CFTC regulations, on foreign exchanges. 5. FUTURES CONTRACTS: A commodity futures contract provides for the future sale by one party and the future purchase by the other party of a specified amount of a commodity, such as an energy, agricultural or metal commodity, at a specified price, date, time and place. A foreign currency futures contract provides for the future sale by one party and the future purchase by the other party of a certain amount of a specified non-U.S. currency at a specified price, date, time and place. An interest rate futures contract provides for the future sale by one party and the purchase by the other party of a certain amount of a specific interest rate sensitive financial instrument (debt security) at a specified price, date, time and place. Securities and commodities indexes are typically capitalization or production weighted, respectively. A securities index or commodities index futures contract is an agreement to be settled by delivery of an amount of cash equal to a specified multiplier times the difference between the value of the index at the close of the last trading day on the contract and the price at which the agreement is made. The clearing house of the exchange on which a futures contract is entered into becomes the counterparty to each purchaser and seller of the futures contract. Payments, known as "variation margin," to and from the broker, will be made daily as the currency, financial instrument or index underlying the futures contract fluctuates, making the long and short positions in the futures 194 contract more or less valuable, a process known as "marking-to-market." As a result of the small margin deposit that is required, a small change in the market price of a futures contract can produce major losses. At any time prior to the expiration of a futures contract, the Portfolio may elect to close the position by taking an opposite position, which will operate to terminate the Portfolio's existing position in the contract. Positions in futures contracts and options on futures contracts (described below) may be closed out only on the exchange on which they were entered into (or through a linked exchange). However, there is no assurance that an active market will exist at any particular time. Once the daily fluctuation limit has been reached in a particular contract, most futures exchanges restrict trades at a price beyond that limit or trading may be suspended for specified periods during the day. Such restrictions prevent prompt liquidation of futures positions at an advantageous price potentially subjecting the Portfolio to substantial losses. In such event, and in the event of adverse price movements, the Portfolio would be required to make daily cash payments of variation margin. Losses incurred in futures transactions and the costs of these transactions will affect the Portfolio's performance. The price volatility of commodity futures contracts has been historically greater than that for traditional securities, such as stocks and bonds, and there are a variety of factors associated with commodity futures contracts which may subject the Portfolio's investments in the contracts to greater volatility than investments in traditional securities. 6. Options on Futures Contracts: The Portfolio may purchase and write put and call options on foreign currency, interest rate and stock and commodity index futures contracts and may enter into closing transactions with respect to such options to terminate existing positions. There is no guarantee that such closing transactions can be effected; the ability to establish and close out positions on such options will be subject to the existence of a liquid market. An option on a currency, interest rate or commodity or securities index futures contract, as contrasted with the direct investment in such a contract, gives the purchaser the right, in return for the premium paid, to assume a position in a futures contract at a specified exercise price at any time prior to the expiration date of the option. The writer of the option is required upon exercise to assume an offsetting futures position (a short position if the option is a call and a long position if the option is a put). Upon exercise of an option, the delivery of the futures position by the writer of the option to the holder of the option will be accompanied by delivery of the accumulated balance in the writer's futures margin account, which represents the amount by which the market price of the futures contract exceeds, in the case of a call, or is less than, in the case of a put, the exercise price of the option on the futures contract. The potential loss related to the purchase of an option on a futures contract is limited to the premium paid for the option (plus transaction costs). The value of the option changes daily, and that change would be reflected in the net asset value of the Portfolio. The Portfolio may enter into options and futures transactions for several purposes, including generating current income to offset expenses or increase return, and as hedges to reduce investment risk, generally by making an investment expected to move in the opposite direction of a portfolio position. A hedge is designed to offset a loss in a portfolio position with a gain in the hedged position; at the same time, however, a properly correlated hedge will result in a gain in the portfolio position being offset by a loss in the hedged position. At October 31, 2013, the Subsidiary had the following outstanding commodity-linked futures contracts (dollar amounts in thousands): EXPIRATION NUMBER OF CONTRACT UNREALIZED DESCRIPTION DATE CONTRACTS* AMOUNT GAIN (LOSS) ----------- ---------- ---------- -------- ----------- Brent Crude Oil Futures. 02/13/14 12 $1,292 $ -- CBT Corn Futures........ 03/14/14 48 1,054 (11) CBT Soybean Futures..... 01/14/14 29 1,836 (31) 195 EXPIRATION NUMBER OF CONTRACT UNREALIZED DESCRIPTION DATE CONTRACTS* AMOUNT GAIN (LOSS) ----------- ---------- ---------- -------- ----------- CBT Wheat Futures............. 03/14/14 21 $ 713 $ (11) Coffee 'C' Futures............ 03/19/14 10 407 (6) Copper Futures................ 03/27/14 18 1,489 (7) Cotton No.2 Futures........... 03/07/14 11 436 (4) Gasoline RBOB Futures......... 12/31/13 7 762 (5) Gold 100 oz Futures........... 02/26/14 15 1,987 (41) KCB Wheat Futures............. 03/14/14 21 779 (11) LME Nickel Futures............ 01/13/14 5 438 2 LME Prime Aluminum Futures.... 01/13/14 22 1,019 (4) LME Zinc Futures.............. 01/13/14 12 585 1 Lean Hogs Futures............. 02/14/14 13 479 (11) Light Sweet Crude Oil Futures. 12/19/13 27 2,609 (102) Live Cattle Futures........... 02/28/14 14 752 (4) Natural Gas Futures........... 12/27/13 92 3,369 (248) NY Harbor ULSD Futures........ 12/31/13 6 745 (6) Silver Futures................ 03/27/14 6 658 (30) Soybean Meal Futures.......... 01/14/14 15 595 (13) Soybean Oil Futures........... 01/14/14 21 525 1 Sugar #11 Futures............. 02/28/14 42 862 (27) ------- ----- $23,391 $(568) ======= ===== The Subsidiary's securities have been segregated as collateral for open futures contracts. * During the year ended October 31, 2013 the Subsidiary's average notional contract amount of outstanding futures contracts was $22,232 (in thousands). At October 31, 2013, the Subsidiary had the following outstanding commodity total return swaps (dollar amounts in thousands): UNREALIZED COMMODITY EXPIRATION NOTIONAL APPRECIATION COUNTERPARTY EXPOSURE DATE AMOUNT* (DEPRECIATION) ------------ ------------- ---------- --------- -------------- Citibank, N.A................... Index** 12/31/2013 USD $(243,297) $(2,417) Citibank, N.A................... Natural Gas 01/31/2014 USD 64,518 4,079 Citibank, N.A................... Natural Gas 04/30/2014 USD (63,429) (3,452) Credit Suisse................... Index** 11/22/2013 USD (48,661) (485) Credit Suisse................... Index** 11/22/2013 USD (59,241) (590) Deutsche Bank AG, London Branch. Soybean 11/21/2013 USD 18,060 333 Deutsche Bank AG, London Branch. Soybean 11/21/2013 USD 9,713 216 Deutsche Bank AG, London Branch. Soybean 11/21/2013 USD (9,452) (163) Deutsche Bank AG, London Branch. Soybean 11/21/2013 USD (17,577) (237) Deutsche Bank AG, London Branch. Index** 11/22/2013 USD (201,585) (2,010) Deutsche Bank AG, London Branch. WTI Crude Oil 12/18/2013 USD 56,210 3,053 Deutsche Bank AG, London Branch. WTI Crude Oil 03/19/2014 USD (54,698) (1,843) UBS AG.......................... Index** 01/29/2014 USD (215,652) (2,070) --------- ------- $(765,091) $(5,586) ========= ======= * During the year ended October 31, 2013 the Subsidiary's average notional value of outstanding swap contracts was $620,010 (amount in thousands). **Swap is exposed to the 22 commodities in the Dow Jones-UBS Commodity Index. 196 The following is a summary of the location of derivatives on the Portfolio's Statements of Assets and Liabilities as of October 31, 2013: LOCATION ON THE STATEMENTS OF ASSETS AND LIABILITIES --------------------------------------------------- DERIVATIVE TYPE ASSET DERIVATIVES LIABILITY DERIVATIVES --------------- ------------------------ ------------------------ Commodity Contracts Payables: Futures Margin Variation Foreign Exchange Unrealized Gain on Unrealized Loss on Contracts Forward Currency Forward Currency Contracts Contracts Other Contracts Unrealized Gain on Swap Unrealized Loss on Swap Contracts Contracts The following is a summary of the Portfolio's derivative instrument holdings categorized by primary risk exposure as of October 31, 2013 (amounts in thousands): ASSET DERIVATIVES VALUE ---------------------- TOTAL VALUE FOREIGN AT EXCHANGE OTHER OCTOBER 31, 2013 CONTRACTS CONTRACTS - ---------------- --------- --------- Dimensional Cayman Commodity Fund I, LTD. $7,852 $171 $7,681 LIABILITY DERIVATIVES VALUE -------------------------------- TOTAL VALUE FOREIGN AT COMMODITY EXCHANGE OTHER OCTOBER 31, 2013 CONTRACTS CONTRACTS CONTRACTS - ---------------- --------- --------- --------- Dimensional Cayman Commodity Fund I, LTD. $(14,791) $(568)* $(956) $(13,267) * Includes cumulative appreciation (depreciation) of futures contracts. Only current day's margin variation is reported within the Statement of Assets and Liabilities. The following is a summary of the location on the Portfolio's Statements of Operations of realized and change in unrealized gains and losses from the Portfolio's derivative instrument holdings for the year ended October 31, 2013 (amounts in thousands): DERIVATIVE TYPE LOCATION OF GAIN (LOSS) ON DERIVATIVES RECOGNIZED IN INCOME --------------- ----------------------------------------------------------- Commodity Contracts Net Realized Gain (Loss) on: Futures Change in Unrealized Appreciation (Depreciation) of: Futures Foreign Exchange Contracts Net Realized Gain (Loss) on: Foreign Currency Transactions Change in Unrealized Appreciation (Depreciation) of: Translation of Foreign Currency Denominated Amounts Other Contracts Net Realized Gain (Loss) on: Swap Contracts Change in Unrealized Appreciation (Depreciation) of: Swap Contracts The following is a summary of the realized and change in unrealized gains and losses from the Portfolio's derivative instrument holdings categorized by primary risk exposure through the year ended October 31, 2013 (amounts in thousands): REALIZED GAIN (LOSS) ON DERIVATIVES RECOGNIZED IN INCOME -------------------------------------- FOREIGN COMMODITY EXCHANGE OTHER TOTAL CONTRACTS CONTRACTS CONTRACTS -------- --------- --------- --------- Dimensional Cayman Commodity Fund I, LTD. $(71,257) $(1,683) $(1,205) $(68,369) 197 CHANGE IN UNREALIZED APPRECIATION (DEPRECIATION) ON DERIVATIVES RECOGNIZED IN INCOME ------------------------------------- FOREIGN COMMODITY EXCHANGE OTHER TOTAL CONTRACTS CONTRACTS CONTRACTS ------- --------- --------- --------- Dimensional Cayman Commodity Fund I, LTD. $(6,865) $(717) $713 $(6,861) I. LINE OF CREDIT: The Fund, together with other Dimensional-advised portfolios, entered into a $250 million unsecured discretionary line of credit effective June 22, 2011 with The Bank of New York Mellon, which was terminated by The Bank of New York Mellon effective March 29, 2013. Prior to termination, each portfolio was permitted to borrow, subject to its investment limitations, up to a maximum of $250 million, as long as total borrowings under the line of credit did not exceed $250 million in the aggregate. Borrowings under the line of credit were charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio was individually, and not jointly, liable for its particular advances under the line of credit. There was no commitment fee on the unused portion of the line of credit. The Fund, together with other Dimensional-advised portfolios, has entered into a $500 million unsecured discretionary line of credit effective March 4, 2013 with its domestic custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. There is no commitment fee on the unused portion of the line of credit. The agreement for the discretionary line of credit may be terminated by either party at any time. The line of credit is scheduled to expire on March 3, 2014. The Fund, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit effective January 11, 2013 with its international custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. There is no commitment fee on the unused portion of the line of credit. The agreement for the line of credit expires on January 10, 2014. There were no borrowings by the Portfolio under the lines of credit during the year ended October 31, 2013. J. INDEMNITEES; CONTRACTUAL OBLIGATIONS: Under the Fund's organizational documents, its officers and directors are indemnified against certain liabilities arising out of the performance of their duties to the Fund. In the normal course of business, the Fund enters into contracts that contain a variety of representations and warranties which provide general indemnification. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund and/or its affiliates that have not yet occurred. However, based on experience, the Fund expects the risk of loss to be remote. K. RECENTLY ISSUED ACCOUNTING STANDARDS: In January 2013, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") No. 2013-01 "Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities" ("ASU 2013-01") which amended Accounting Standards Codification Subtopic 210-20, Balance Sheet Offsetting. ASU 2013-01 clarified the scope of ASU No. 2011-11 "Disclosures about Offsetting Assets and Liabilities" ("ASU 2011-11"). ASU 2011-11 requires an entity to disclose information about offsetting and related arrangements to enable users of that entity's financial statements to understand the effect of those arrangements on its financial position. ASU 2013-01 clarifies the scope of ASU 2011-11 as applying to derivatives accounted for in accordance with Topic 815, Derivatives and Hedging, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are offset either in accordance with other 198 requirements of GAAP or subject to an enforceable master netting arrangement or similar agreement. ASU No. 2011-11 is effective for annual periods beginning on or after January 1, 2013, and interim periods within those annual periods. Management is evaluating any impact ASU No. 2011-11 may have on the financial statements. L. OTHER: At October 31, 2013, three shareholders held 87% of outstanding shares of the Portfolio. One or more of the shareholders may be omnibus accounts, which typically hold shares for the benefit of several other underlying investors. M. SUBSEQUENT EVENT EVALUATIONS: Management has evaluated the impact of all subsequent events on the Portfolio and has determined that there are no subsequent events requiring recognition or disclosure in the financial statements. 199 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM TO THE SHAREHOLDERS OF DFA COMMODITY STRATEGY PORTFOLIO AND BOARD OF DIRECTORS OF DFA INVESTMENT DIMENSIONS GROUP INC.: In our opinion, the accompanying consolidated statement of assets and liabilities, including the consolidated schedule of investments, and the related consolidated statements of operations and of changes in net assets and the consolidated financial highlights present fairly, in all material respects, the financial position of DFA Commodity Strategy Portfolio and its subsidiary (one of the portfolios constituting DFA Investment Dimensions Group Inc., hereafter referred to as the "Portfolio") at October 31, 2013, the results of their operations for the year then ended, the changes in their net assets for each of the two years in the period then ended and the financial highlights for each of the periods indicated, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as "financial statements") are the responsibility of the Portfolio's management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of securities at October 31, 2013 by correspondence with the custodians and brokers, provide a reasonable basis for our opinion. PricewaterhouseCoopers LLP Philadelphia, Pennsylvania December 20, 2013 200 DIMENSIONAL INVESTMENT GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- DFA INTERNATIONAL VALUE PORTFOLIO-CLASS R2 VS. MSCI WORLD EX USA INDEX (NET DIVIDENDS) APRIL 30, 2008-OCTOBER 31, 2013 [CHART] DFA International Value MSCI World ex Portfolio-Class R2 USA Index (net dividends) ----------------------- ------------------------- 4/30/2008 $10,000 $10,000 5/31/2008 10,000 10,152 6/30/2008 9,006 9,362 7/31/2008 8,752 9,029 8/31/2008 8,381 8,680 9/30/2008 7,404 7,427 10/31/2008 5,537 5,882 11/30/2008 5,194 5,563 12/31/2008 5,594 5,856 1/31/2009 4,819 5,310 2/28/2009 4,220 4,772 3/31/2009 4,686 5,087 4/30/2009 5,539 5,743 5/31/2009 6,361 6,469 6/30/2009 6,268 6,402 7/31/2009 7,007 7,003 8/31/2009 7,404 7,339 9/30/2009 7,789 7,641 10/31/2009 7,467 7,519 11/30/2009 7,685 7,705 12/31/2009 7,769 7,828 1/31/2010 7,316 7,461 2/28/2010 7,340 7,453 3/31/2010 7,920 7,933 4/30/2010 7,781 7,815 5/31/2010 6,874 6,952 6/30/2010 6,751 6,852 7/31/2010 7,584 7,485 8/31/2010 7,209 7,261 9/30/2010 7,990 7,958 10/31/2010 8,259 8,241 11/30/2010 7,836 7,892 12/31/2010 8,567 8,528 1/31/2011 8,931 8,712 2/28/2011 9,224 9,035 3/31/2011 8,966 8,854 4/30/2011 9,443 9,336 5/31/2011 9,097 9,059 6/30/2011 8,968 8,930 7/31/2011 8,679 8,783 8/31/2011 7,744 8,040 9/30/2011 6,896 7,233 10/31/2011 7,555 7,936 11/30/2011 7,306 7,569 12/31/2011 7,106 7,487 1/31/2012 7,579 7,891 2/29/2012 7,974 8,325 3/31/2012 7,907 8,263 4/30/2012 7,622 8,123 5/31/2012 6,676 7,197 6/30/2012 7,146 7,669 7/31/2012 7,112 7,764 8/31/2012 7,407 7,986 9/30/2012 7,665 8,228 10/31/2012 7,759 8,286 11/30/2012 7,877 8,460 12/31/2012 8,263 8,716 1/31/2013 8,646 9,144 2/28/2013 8,382 9,053 3/31/2013 8,408 9,125 4/30/2013 8,817 9,541 5/31/2013 8,707 9,327 6/30/2013 8,400 8,978 7/31/2013 8,968 9,455 Past performance is not predictive of 8/31/2013 8,902 9,333 future performance. 9/30/2013 9,570 9,993 10/31/2013 9,901 10,328 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE FROM redemption of fund shares. TOTAL RETURN YEAR YEARS 04/30/2008 ----------------------------------------------------------- MSCI data copyright MSCI 2013, all 27.61% 12.33% -0.18% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- DFA INTERNATIONAL VALUE PORTFOLIO-INSTITUTIONAL CLASS VS. MSCI WORLD EX USA INDEX (NET DIVIDENDS) OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] DFA International Value MSCI World ex USA Portfolio-Institutional Class Index (net dividends) ----------------------------- --------------------- 10/31/2003 $10,000 $10,000 11/30/2003 10,209 10,227 12/31/2003 10,972 11,011 1/31/2004 11,250 11,164 2/29/2004 11,587 11,421 3/31/2004 11,767 11,478 4/30/2004 11,413 11,178 5/31/2004 11,523 11,230 6/30/2004 11,999 11,489 7/31/2004 11,557 11,139 8/31/2004 11,701 11,185 9/30/2004 12,075 11,511 10/31/2004 12,537 11,925 11/30/2004 13,462 12,718 12/31/2004 14,132 13,255 1/31/2005 13,985 12,994 2/28/2005 14,537 13,572 3/31/2005 14,174 13,264 4/30/2005 13,742 12,926 5/31/2005 13,759 12,950 6/30/2005 13,976 13,161 7/31/2005 14,597 13,586 8/31/2005 15,079 13,961 9/30/2005 15,500 14,599 10/31/2005 15,262 14,127 11/30/2005 15,535 14,501 12/31/2005 16,290 15,173 1/31/2006 17,400 16,133 2/28/2006 17,562 16,079 3/31/2006 18,302 16,589 4/30/2006 19,223 17,382 5/31/2006 18,447 16,722 6/30/2006 18,320 16,700 7/31/2006 18,604 16,857 8/31/2006 19,236 17,336 9/30/2006 19,505 17,322 10/31/2006 20,366 18,006 11/30/2006 21,033 18,543 12/31/2006 21,852 19,074 1/31/2007 22,258 19,191 2/28/2007 22,239 19,344 3/31/2007 22,952 19,840 4/30/2007 24,105 20,742 5/31/2007 24,928 21,203 6/30/2007 24,746 21,224 7/31/2007 24,054 20,931 8/31/2007 23,776 20,628 9/30/2007 25,013 21,800 10/31/2007 26,220 22,748 11/30/2007 24,627 21,858 12/31/2007 24,090 21,447 1/31/2008 22,139 19,513 2/29/2008 21,852 19,867 3/31/2008 22,115 19,583 4/30/2008 23,096 20,672 5/31/2008 23,106 20,986 6/30/2008 20,812 19,354 7/31/2008 20,223 18,665 8/31/2008 19,370 17,943 9/30/2008 17,109 15,353 10/31/2008 12,817 12,159 11/30/2008 12,030 11,500 12/31/2008 12,929 12,106 1/31/2009 11,148 10,976 2/28/2009 9,779 9,865 3/31/2009 10,841 10,515 4/30/2009 12,832 11,871 5/31/2009 14,740 13,373 6/30/2009 14,519 13,234 7/31/2009 16,237 14,477 8/31/2009 17,159 15,170 9/30/2009 18,042 15,796 10/31/2009 17,316 15,543 11/30/2009 17,821 15,927 12/31/2009 18,030 16,181 1/31/2010 16,983 15,423 2/28/2010 17,036 15,407 3/31/2010 18,394 16,399 4/30/2010 18,076 16,155 5/31/2010 15,949 14,372 6/30/2010 15,672 14,164 7/31/2010 17,627 15,473 8/31/2010 16,757 15,011 9/30/2010 18,552 16,451 10/31/2010 19,209 17,037 11/30/2010 18,228 16,315 12/31/2010 19,936 17,629 1/31/2011 20,782 18,009 2/28/2011 21,465 18,676 3/31/2011 20,873 18,302 4/30/2011 21,983 19,299 5/31/2011 21,189 18,727 6/30/2011 20,893 18,460 7/31/2011 20,218 18,156 8/31/2011 18,050 16,621 9/30/2011 16,075 14,952 10/31/2011 17,600 16,406 11/30/2011 17,032 15,648 12/31/2011 16,577 15,477 1/31/2012 17,690 16,312 2/29/2012 18,601 17,209 3/31/2012 18,456 17,082 4/30/2012 17,791 16,792 5/31/2012 15,594 14,878 6/30/2012 16,692 15,852 7/31/2012 16,623 16,050 8/31/2012 17,301 16,508 9/30/2012 17,916 17,009 10/31/2012 18,147 17,128 11/30/2012 18,424 17,488 12/31/2012 19,330 18,017 1/31/2013 20,227 18,903 2/28/2013 19,622 18,715 3/31/2013 19,679 18,863 4/30/2013 20,647 19,722 5/31/2013 20,391 19,281 6/30/2013 19,672 18,558 7/31/2013 21,015 19,546 Past performance is not predictive of 8/31/2013 20,860 19,294 future performance. 9/30/2013 22,434 20,657 10/31/2013 23,209 21,350 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE TEN redemption of fund shares. TOTAL RETURN YEAR YEARS YEARS ---------------------------------------------------------- MSCI data copyright MSCI 2013, all 27.90% 12.61% 8.78% rights reserved. -------------------------------------------------------------------------------- 201 DIMENSIONAL INVESTMENT GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- U.S. LARGE COMPANY PORTFOLIO VS. S&P 500(R) INDEX OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] U.S. Large Company Portfolio S&P 500/R/Index ---------------------------- --------------- 10/31/2003 $10,000 $10,000 11/30/2003 10,084 10,088 12/31/2003 10,603 10,617 1/31/2004 10,798 10,811 2/29/2004 10,944 10,962 3/31/2004 10,786 10,796 4/30/2004 10,615 10,627 5/31/2004 10,761 10,773 6/30/2004 10,972 10,982 7/31/2004 10,605 10,619 8/31/2004 10,641 10,661 9/30/2004 10,758 10,777 10/31/2004 10,918 10,941 11/30/2004 11,361 11,384 12/31/2004 11,745 11,772 1/31/2005 11,460 11,485 2/28/2005 11,708 11,726 3/31/2005 11,497 11,519 4/30/2005 11,285 11,300 5/31/2005 11,634 11,660 6/30/2005 11,655 11,676 7/31/2005 12,092 12,111 8/31/2005 11,979 12,000 9/30/2005 12,076 12,097 10/31/2005 11,875 11,896 11/30/2005 12,327 12,346 12/31/2005 12,330 12,350 1/31/2006 12,658 12,677 2/28/2006 12,683 12,711 3/31/2006 12,843 12,870 4/30/2006 13,020 13,042 5/31/2006 12,640 12,667 6/30/2006 12,665 12,684 7/31/2006 12,742 12,763 8/31/2006 13,047 13,066 9/30/2006 13,376 13,403 10/31/2006 13,811 13,840 11/30/2006 14,066 14,103 12/31/2006 14,268 14,301 1/31/2007 14,487 14,517 2/28/2007 14,204 14,233 3/31/2007 14,354 14,392 4/30/2007 14,999 15,030 5/31/2007 15,516 15,554 6/30/2007 15,265 15,296 7/31/2007 14,785 14,822 8/31/2007 15,006 15,044 9/30/2007 15,568 15,607 10/31/2007 15,816 15,855 11/30/2007 15,151 15,192 12/31/2007 15,056 15,086 1/31/2008 14,151 14,181 2/29/2008 13,692 13,721 3/31/2008 13,640 13,661 4/30/2008 14,299 14,327 5/31/2008 14,483 14,513 6/30/2008 13,268 13,289 7/31/2008 13,162 13,178 8/31/2008 13,347 13,368 9/30/2008 12,172 12,177 10/31/2008 10,137 10,132 11/30/2008 9,418 9,405 12/31/2008 9,521 9,505 1/31/2009 8,728 8,704 2/28/2009 7,800 7,777 3/31/2009 8,484 8,458 4/30/2009 9,296 9,268 5/31/2009 9,824 9,786 6/30/2009 9,836 9,805 7/31/2009 10,584 10,547 8/31/2009 10,965 10,928 9/30/2009 11,376 11,336 10/31/2009 11,157 11,125 11/30/2009 11,827 11,792 12/31/2009 12,056 12,020 1/31/2010 11,629 11,588 2/28/2010 11,987 11,947 3/31/2010 12,713 12,668 4/30/2010 12,907 12,868 5/31/2010 11,871 11,840 6/30/2010 11,251 11,220 7/31/2010 12,039 12,007 8/31/2010 11,500 11,464 9/30/2010 12,522 12,488 10/31/2010 12,995 12,963 11/30/2010 12,995 12,964 12/31/2010 13,864 13,831 1/31/2011 14,200 14,159 2/28/2011 14,676 14,644 3/31/2011 14,693 14,650 4/30/2011 15,115 15,084 5/31/2011 14,946 14,913 6/30/2011 14,693 14,664 7/31/2011 14,396 14,366 8/31/2011 13,620 13,586 9/30/2011 12,656 12,631 10/31/2011 14,046 14,011 11/30/2011 14,003 13,980 12/31/2011 14,155 14,123 1/31/2012 14,784 14,756 2/29/2012 15,414 15,394 3/31/2012 15,930 15,901 4/30/2012 15,829 15,801 5/31/2012 14,869 14,851 6/30/2012 15,483 15,463 7/31/2012 15,700 15,678 8/31/2012 16,046 16,031 9/30/2012 16,460 16,445 10/31/2012 16,156 16,142 11/30/2012 16,257 16,235 12/31/2012 16,395 16,383 1/31/2013 17,242 17,232 2/28/2013 17,476 17,466 3/31/2013 18,133 18,121 4/30/2013 18,485 18,470 5/31/2013 18,910 18,902 6/30/2013 18,663 18,648 7/31/2013 19,606 19,597 8/31/2013 19,031 19,030 Past performance is not predictive of 9/30/2013 19,631 19,626 future performance. 10/31/2013 20,534 20,529 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE TEN redemption of fund shares. TOTAL RETURN YEAR YEARS YEARS ----------------------------------------------------- The S&P data are provided by Standard 27.10% 15.16% 7.46% & Poor's Index Services Group. -------------------------------------------------------------------------------- 202 DIMENSIONAL INVESTMENT GROUP INC. MANAGEMENT'S DISCUSSION AND ANALYSIS INTERNATIONAL EQUITY MARKET REVIEW 12 MONTHS ENDED OCTOBER 31, 2013 The one-year period ended October 31, 2013, was characterized by generally positive monthly returns in the international equity markets with the exception of a sharp decline from May to June and a smaller decline in August. As measured by the MSCI indices below for developed markets outside the U.S., small cap stocks generally outperformed large caps while value stocks outperformed growth stocks. 12 MONTHS ENDED OCTOBER 31, 2013 -------------------------------- U.S. DOLLAR RETURN - ------------------ MSCI World ex USA Index........... 24.65% MSCI World ex USA Small Cap Index. 27.81% MSCI World ex USA Value Index..... 26.12% MSCI World ex USA Growth Index.... 23.17% During the period, the U.S. dollar (USD) was mixed against developed markets currencies. While the U.S. dollar depreciated against the euro, Swiss franc, and several other European-based developed markets currencies, it appreciated against the sterling, Canadian dollar, Australian dollar and Japanese yen. 12 MONTHS ENDED OCTOBER 31, 2013 -------------------------------- TEN LARGEST FOREIGN DEVELOPED MARKETS BY MARKET CAP LOCAL CURRENCY RETURN U.S. DOLLAR RETURN --------------------------------------------------- --------------------- ------------------ United Kingdom.................... 20.70% 20.37% Japan............................. 64.48% 34.00% Canada............................ 10.59% 5.99% France............................ 27.55% 33.82% Australia......................... 26.44% 15.47% Switzerland....................... 27.49% 31.10% Germany........................... 24.72% 30.85% Spain............................. 30.69% 37.11% Sweden............................ 24.39% 27.55% Hong Kong......................... 14.30% 14.25% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2013, all rights reserved. Gains in emerging markets were lower on average than in developed markets although results varied widely among the individual emerging markets countries. For the one-year period ended October 31, 2013, returns in US dollars were 6.53% for the MSCI Emerging Markets Index (net dividends) versus 24.65% for the MSCI World ex USA Index (net dividends). As measured by the MSCI emerging markets indices, small cap stocks outperformed large cap stocks while growth stocks outperformed value stocks. 12 MONTHS ENDED OCTOBER 31, 2013 -------------------------------- U.S. DOLLAR RETURN - ------------------ MSCI Emerging Markets Index........... 6.53% MSCI Emerging Markets Small Cap Index. 10.29% MSCI Emerging Markets Value Index..... 3.88% MSCI Emerging Markets Growth Index.... 9.06% During the period, the U.S. dollar (USD) generally appreciated against most emerging markets currencies, except those in eastern Europe, decreasing USD denominated returns in emerging markets. 203 12 MONTHS ENDED OCTOBER 31, 2013 -------------------------------- TEN LARGEST EMERGING MARKETS BY MARKET CAP LOCAL CURRENCY RETURN U.S. DOLLAR RETURN ------------------------------------------ --------------------- ------------------ China........................ 9.32% 9.28% South Korea.................. 9.57% 12.65% Brazil....................... 7.85% -1.52% Taiwan....................... 18.76% 18.08% South Africa................. 20.85% 5.07% India........................ 14.98% 0.65% Russia....................... 12.94% 10.89% Mexico....................... 1.41% 2.11% Malaysia..................... 13.25% 9.32% Indonesia.................... 1.33% -13.66% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2013, all rights reserved. MASTER-FEEDER STRUCTURE Certain portfolios described below, called "Feeder Funds," do not buy individual securities directly; instead, these portfolios invest in corresponding funds called "Master Funds." Master Funds, in turn, purchase stocks and/or other securities. INTERNATIONAL EQUITY PORTFOLIO PERFORMANCE OVERVIEW DFA INTERNATIONAL VALUE PORTFOLIO The DFA International Value Portfolio seeks to capture the returns of international large company value stocks by purchasing shares of The DFA International Value Series, a Master Fund that invests in such stocks. Value is measured primarily by book-to-market ratio. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Master Fund held approximately 520 securities in 22 eligible developed countries. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Master Fund's assets. For the 12 months ending October 31, 2013, total returns were 27.61% for the Portfolio's Class R2 shares, 27.90% for the Portfolio's Institutional Class shares, and 24.65% for the MSCI World ex USA Index (net dividends). The Master Fund focuses on value stocks, as measured by book-to-market, while the Index is neutral with regard to value or growth. As large cap value stocks generally outperformed large cap growth stocks during the period, the Master Fund's significantly greater exposure than the Index to these securities contributed to the Portfolio's outperformance relative to the Index. In particular, the Master Fund's greater exposure to value stocks in the financial sector was beneficial as these names generally outperformed the Index. The Master Fund's exclusion of real estate investment trusts ("REITs") also benefited the Portfolio's performance relative to the Index as REITs underperformed during the period. Differences in the valuation timing and methodology between the Master Fund and the Index generally detracted from the Portfolio's performance relative to the Index. The Master Fund prices foreign exchange rates at the closing of the U.S. markets while the Index uses rates at 4 pm London time. The Master Fund also may use fair value pricing to price certain portfolio securities at the closing of the U.S. markets while the Index uses local market closing prices. U.S. EQUITY MARKET REVIEW 12 MONTHS ENDED OCTOBER 31, 2013 The one-year period ended October 31, 2013, was characterized by strong gains in U.S. equities. The broad U.S. equity market, as measured by the Russell 3000(R) Index, had positive returns in 10 of the 12 months. The size premium was positive during the period with small cap stocks outperforming large cap stocks as measured by the Russell indices. Micro cap stocks were the strongest performers. 204 TOTAL RETURN FOR 12 MONTHS ENDED OCTOBER 31, 2013 ------------------------------------------------- Russell 3000(R) Index........................ 28.99% Russell Microcap(R) Index (micro cap stocks). 38.72% Russell 2000(R) Index (small cap stocks)..... 36.28% Russell 1000(R) Index (large cap stocks)..... 28.40% Dow Jones U.S. Select REIT Index/SM/......... 9.96% The value premium was negative in small cap stocks while the performance of large cap value and large cap growth was almost identical as measured by the Russell indices. TOTAL RETURN FOR 12 MONTHS ENDED OCTOBER 31, 2013 ------------------------------------------------- Russell 2000(R) Value Index (small cap value stocks)... 32.83% Russell 2000(R) Growth Index (small cap growth stocks). 39.84% Russell 1000(R) Value Index (large cap value stocks)... 28.29% Russell 1000(R) Growth Index (large cap growth stocks). 28.30% ---------- Source: Russell data copyright (C) Russell Investment Group 1995-2013, all rights reserved. Dimensional Fund Advisors LP ("Dimensional" or the "Advisor") believes that among the most important factors explaining differences in the behavior of diversified equity portfolios are the market capitalization and value/ growth characteristics of the portfolios' holdings. Value characteristics are a function of stock price relative to one or more fundamental characteristics such as book value, earnings, or dividends. For many Dimensional U.S. equity portfolios, differences in returns over the 12 months ended October 31, 2013, were primarily attributable to differences in value/growth and size characteristics as well as the exclusion of REIT securities from most Dimensional portfolios and the exclusion of securities of highly regulated utilities from most value strategies. For many portfolios, the construction approach used by Dimensional generally resulted in portfolios with greater weight in value, small cap, and/or micro cap companies relative to widely used benchmarks. U.S. LARGE COMPANY PORTFOLIO The U.S. Large Company Portfolio seeks to approximate the returns of the S&P 500(R) Index by investing in S&P 500(R) Index securities in approximately the same proportions as they are represented in the Index. In addition to individual stocks, the Portfolio uses futures to gain market exposure for uninvested cash. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, the total return was 27.10% for the Portfolio and 27.18% for the S&P 500(R) Index. The Portfolio's return is net of fees and expenses. The impact of fees and expenses was primarily responsible for the performance difference. 205 DIMENSIONAL INVESTMENT GROUP INC. DISCLOSURE OF FUND EXPENSES (UNAUDITED) The following Expense Tables are shown so that you can understand the impact of fees on your investment. All mutual funds have operating expenses. As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports, among others. Operating expenses, legal and audit services, which are deducted from a fund's gross income, directly reduce the investment return of the fund. A fund's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs, in dollars, of investing in the fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period. The Expense Tables below illustrate your fund's costs in two ways. ACTUAL FUND RETURN This section helps you to estimate the actual expenses after fee waivers that you paid over the period. The "Ending Account Value" shown is derived from the fund's actual return and "Expenses Paid During Period" reflect the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. To do so, simply divide your account value by $1,000 (for example, a $7,500 account value divided by $1,000 = 7.5), then multiply the result by the number given for your fund under the heading "Expenses Paid During Period." HYPOTHETICAL EXAMPLE FOR COMPARISON PURPOSES This section is intended to help you compare your fund's costs with those of other mutual funds. The hypothetical "Ending Account Value" and "Expenses Paid During Period" are derived from the fund's actual expense ratio and an assumed 5% annual return before expenses. In this case, because the return used is not the fund's actual return, the results do not apply to your investment. The example is useful in making comparisons because the SEC requires all mutual funds to calculate expenses based on a 5% annual return. You can assess your fund's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. Please note that the expenses shown in the tables are meant to highlight and help you compare ongoing costs only and do not reflect any transactional costs, if applicable. The "Annualized Expense Ratio" represents the actual expenses for the six-month period indicated. SIX MONTHS ENDED OCTOBER 31, 2013 EXPENSE TABLES BEGINNING ENDING EXPENSES ACCOUNT ACCOUNT ANNUALIZED PAID VALUE VALUE EXPENSE DURING 05/01/13 10/31/13 RATIO* PERIOD* --------- --------- ---------- -------- DFA INTERNATIONAL VALUE PORTFOLIO** ----------------------------------- Actual Fund Return Class R2 Shares.................... $1,000.00 $1,123.00 0.67% $3.59 Institutional Class Shares......... $1,000.00 $1,124.10 0.43% $2.30 Hypothetical 5% Annual Return Class R2 Shares.................... $1,000.00 $1,021.83 0.67% $3.41 Institutional Class Shares......... $1,000.00 $1,023.04 0.43% $2.19 206 DISCLOSURE OF FUND EXPENSES CONTINUED BEGINNING ENDING EXPENSES ACCOUNT ACCOUNT ANNUALIZED PAID VALUE VALUE EXPENSE DURING 05/01/13 10/31/13 RATIO* PERIOD* --------- --------- ---------- -------- U.S. LARGE COMPANY PORTFOLIO ---------------------------- Actual Fund Return............ $1,000.00 $1,110.90 0.09% $0.48 Hypothetical 5% Annual Return. $1,000.00 $1,024.75 0.09% $0.46 ---------- * Expenses are equal to the fund's annualized expense ratio for the six-month period, multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period (184), then divided by the number of days in the year (365) to reflect the six-month period. **The Portfolio is a Feeder Fund. The expenses shown reflect the direct expenses of the Feeder Fund and the indirect payment of the Feeder Fund's portion of the expenses of its Master Fund (Affiliated Investment Company). 207 DIMENSIONAL INVESTMENT GROUP INC. DISCLOSURE OF PORTFOLIO HOLDINGS (UNAUDITED) The SEC requires that all funds file a complete Schedule of Investments with the SEC for their first and third fiscal quarters on Form N-Q. For Dimensional Investment Group Inc., this would be for the fiscal quarters ending January 31 and July 31. The Form N-Q filing must be made within 60 days of the end of the quarter. Dimensional Investment Group Inc. filed its most recent Form N-Q with the SEC on September 27, 2013. It is available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room). SEC regulations permit a fund to include in its reports to shareholders a "Summary Schedule of Portfolio Holdings" in lieu of a full Schedule of Investments. The Summary Schedule of Portfolio Holdings reports the fund's 50 largest holdings in unaffiliated issuers and any investments that exceed one percent of the fund's net assets at the end of the reporting period. The amendments also require that the Summary Schedule of Portfolio Holdings identify each category of investments that are held. A fund is required to file a complete Schedule of Investments with the SEC on Form N-CSR within ten days after mailing the annual and semi-annual reports to shareholders. It will be available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room). PORTFOLIO HOLDINGS The SEC requires that all funds present their categories of portfolio holdings in a table, chart or graph format in their annual and semi-annual shareholder reports, whether or not a Schedule of Investments is utilized. The following table, which presents portfolio holdings as a percent of total investments before short-term investments and collateral for loaned securities, is provided in compliance with such requirement. The categories of industry classification for the Affiliated Investment Company are represented in its Disclosure of Portfolio Holdings, which is included elsewhere within the report. Refer to the Summary Schedule of Portfolio Holdings for the underlying Affiliated Investment Company's holdings which reflect the investments by category. FEEDER FUND AFFILIATED INVESTMENT COMPANY ----------------------------- DFA International Value Portfolio. 100.0% DOMESTIC EQUITY PORTFOLIO U.S. LARGE COMPANY PORTFOLIO Consumer Discretionary....................... 12.5% Consumer Staples............................. 10.2% Energy....................................... 10.5% Financials................................... 14.1% Health Care.................................. 13.0% Industrials.................................. 10.8% Information Technology....................... 17.8% Materials.................................... 3.5% Real Estate Investment Trusts................ 2.0% Telecommunication Services................... 2.5% Utilities.................................... 3.1% ----- 100.0% 208 DFA INTERNATIONAL VALUE PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 VALUE+ -------------- AFFILIATED INVESTMENT COMPANY -- (100.0%) Investment in The DFA International Value Series of The DFA Investment Trust Company..................... $6,528,252,884 -------------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANY (Cost $5,271,384,583)............................. $6,528,252,884 ============== Summary of the Portfolio's Master Fund's investments as of October 31, 2013, based on their valuation inputs, is located within this report (See Security Valuation Note). See accompanying Notes to Financial Statements. 209 U.S. LARGE COMPANY PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE+ OF NET ASSETS** ------ ------ --------------- COMMON STOCKS -- (95.8%) Consumer Discretionary -- (12.0%) * Amazon.com, Inc.................... 114,712 $ 41,758,609 0.9% Comcast Corp. Class A.............. 810,716 38,573,867 0.8% Home Depot, Inc. (The)............. 444,014 34,584,250 0.7% McDonald's Corp.................... 309,860 29,907,687 0.6% Walt Disney Co. (The).............. 514,981 35,322,547 0.7% Other Securities................... 424,800,285 8.6% ------------ ------ Total Consumer Discretionary........... 604,947,245 12.3% ------------ ------ Consumer Staples -- (9.8%) Altria Group, Inc.................. 621,306 23,131,222 0.5% Coca-Cola Co. (The)................ 1,181,763 46,762,362 0.9% CVS Caremark Corp.................. 380,757 23,705,931 0.5% PepsiCo, Inc....................... 478,040 40,198,384 0.8% Philip Morris International, Inc... 501,701 44,711,593 0.9% Procter & Gamble Co. (The)......... 848,933 68,551,340 1.4% Wal-Mart Stores, Inc............... 504,546 38,723,905 0.8% Other Securities................... 208,289,380 4.2% ------------ ------ Total Consumer Staples................. 494,074,117 10.0% ------------ ------ Energy -- (10.1%) Chevron Corp....................... 598,869 71,840,325 1.5% ConocoPhillips..................... 379,095 27,787,664 0.6% Exxon Mobil Corp................... 1,364,373 122,275,108 2.5% Occidental Petroleum Corp.......... 249,762 23,997,133 0.5% Schlumberger, Ltd.................. 410,147 38,438,977 0.8% Other Securities................... 225,470,233 4.5% ------------ ------ Total Energy........................... 509,809,440 10.4% ------------ ------ Financials -- (13.5%) American Express Co................ 287,597 23,525,435 0.5% American International Group, Inc.. 457,622 23,636,176 0.5% Bank of America Corp............... 3,330,044 46,487,414 0.9% * Berkshire Hathaway, Inc. Class B... 557,922 64,205,664 1.3% Citigroup, Inc..................... 942,626 45,981,296 0.9% JPMorgan Chase & Co................ 1,166,787 60,136,202 1.2% Wells Fargo & Co................... 1,497,743 63,938,649 1.3% Other Securities................... 355,099,998 7.3% ------------ ------ Total Financials....................... 683,010,834 13.9% ------------ ------ Health Care -- (12.5%) AbbVie, Inc........................ 491,435 23,810,026 0.5% Amgen, Inc......................... 233,518 27,088,088 0.6% Bristol-Myers Squibb Co............ 510,311 26,801,534 0.5% #* Gilead Sciences, Inc............... 474,448 33,681,064 0.7% Johnson & Johnson.................. 873,518 80,896,502 1.6% Merck & Co., Inc................... 907,088 40,900,598 0.8% Pfizer, Inc........................ 2,052,092 62,958,183 1.3% UnitedHealth Group, Inc............ 315,146 21,511,866 0.4% Other Securities................... 312,439,051 6.4% ------------ ------ Total Health Care...................... 630,086,912 12.8% ------------ ------ 210 U.S. LARGE COMPANY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** ------ ------ --------------- Industrials -- (10.3%) 3M Co.............................................. 201,262 $ 25,328,823 0.5% Boeing Co. (The)................................... 215,146 28,076,553 0.6% General Electric Co................................ 3,156,664 82,515,197 1.7% Union Pacific Corp................................. 143,778 21,767,989 0.4% United Parcel Service, Inc. Class B................ 223,945 22,000,357 0.4% United Technologies Corp........................... 261,648 27,800,100 0.6% Other Securities................................... 314,852,424 6.4% -------------- ------ Total Industrials........................................ 522,341,443 10.6% -------------- ------ Information Technology -- (17.0%) ^^ Apple, Inc......................................... 281,607 147,097,416 3.0% Cisco Systems, Inc................................. 1,661,918 37,393,155 0.7% * Google, Inc. Class A............................... 86,710 89,361,592 1.8% Intel Corp......................................... 1,544,269 37,726,492 0.8% International Business Machines Corp............... 319,176 57,199,531 1.2% Mastercard, Inc. Class A........................... 32,155 23,058,350 0.5% Microsoft Corp..................................... 2,349,651 83,060,163 1.7% Oracle Corp........................................ 1,105,266 37,026,411 0.7% QUALCOMM, Inc...................................... 531,730 36,939,283 0.7% Visa, Inc. Class A................................. 160,005 31,468,183 0.6% Other Securities................................... 280,366,312 5.8% -------------- ------ Total Information Technology............................. 860,696,888 17.5% -------------- ------ Materials -- (3.3%) Other Securities................................... 169,897,794 3.5% -------------- ------ Real Estate Investment Trusts -- (1.9%) Other Securities................................... 94,307,577 1.9% -------------- ------ Telecommunication Services -- (2.4%) AT&T, Inc.......................................... 1,646,249 59,594,214 1.2% Verizon Communications, Inc........................ 887,024 44,803,582 0.9% Other Securities................................... 16,150,126 0.3% -------------- ------ Total Telecommunication Services......................... 120,547,922 2.4% -------------- ------ Utilities -- (3.0%) Other Securities................................... 151,721,926 3.1% -------------- ------ TOTAL COMMON STOCKS...................................... 4,841,442,098 98.4% -------------- ------ TEMPORARY CASH INVESTMENTS -- (1.4%) ^^ State Street Institutional Liquid Reserves, 0.073%. 68,839,949 68,839,949 1.4% -------------- ------ SHARES/ FACE AMOUNT ------- - - (000) SECURITIES LENDING COLLATERAL -- (2.8%) (S)@ DFA Short Term Investment Fund..................... 12,245,750 $ 141,683,331 2.9% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $2,728,012,931)................................ $5,051,965,378 102.7% ============== ====== 211 U.S. LARGE COMPANY PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) -------------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL -------------- ------------ ------- -------------- Common Stocks Consumer Discretionary........ $ 604,947,245 -- -- $ 604,947,245 Consumer Staples.............. 494,074,117 -- -- 494,074,117 Energy........................ 509,809,440 -- -- 509,809,440 Financials.................... 683,010,834 -- -- 683,010,834 Health Care................... 630,086,912 -- -- 630,086,912 Industrials................... 522,341,443 -- -- 522,341,443 Information Technology........ 860,696,888 -- -- 860,696,888 Materials..................... 169,897,794 -- -- 169,897,794 Real Estate Investment Trusts. 94,307,577 -- -- 94,307,577 Telecommunication Services.... 120,547,922 -- -- 120,547,922 Utilities..................... 151,721,926 -- -- 151,721,926 Temporary Cash Investments...... 68,839,949 -- -- 68,839,949 Securities Lending Collateral... -- $141,683,331 -- 141,683,331 Futures Contracts**............. 2,265,842 -- -- 2,265,842 -------------- ------------ -- -------------- TOTAL........................... $4,912,547,889 $141,683,331 -- $5,054,231,220 ============== ============ == ============== **Not reflected in the Summary Schedule of Portfolio Holdings, valued at the unrealized appreciation/(depreciation) on the investment. (Note H) See accompanying Notes to Financial Statements. 212 DIMENSIONAL INVESTMENT GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS) DFA U.S. LARGE INTERNATIONAL COMPANY VALUE PORTFOLIO PORTFOLIO --------------- ------------ ASSETS: Investments in Affiliated Investment Company at Value................................ $ 6,528,253 $ -- Investments at Value (including $0 and $138,383 of securities on loan, respectively). $ -- $ 4,841,442 Temporary Cash Investments at Value & Cost........................................... -- 68,840 Collateral from Securities on Loan Invested in Affiliate at Value & Cost............. -- 141,683 Segregated Cash for Futures Contracts................................................ -- 3,440 Receivables: Dividends, Interest and Tax Reclaims............................................... -- 4,961 Securities Lending Income.......................................................... -- 19 Fund Shares Sold................................................................... 5,719 2,753 From Advisor....................................................................... -- 66 Prepaid Expenses and Other Assets.................................................... 78 65 -------------- ------------ Total Assets.................................................................... 6,534,050 5,063,269 -------------- ------------ LIABILITIES: Payables: Due to Custodian................................................................... -- 315 Upon Return of Securities Loaned................................................... -- 141,683 Fund Shares Redeemed............................................................... 4,792 2,790 Due to Advisor..................................................................... 1,092 -- Futures Margin Variation........................................................... -- 405 Accrued Expenses and Other Liabilities............................................... 294 740 -------------- ------------ Total Liabilities............................................................... 6,178 145,933 -------------- ------------ NET ASSETS........................................................................... $ 6,527,872 $ 4,917,336 ============== ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE: Class R2 Shares -- based on net assets of $5,517 and $0 and shares outstanding of 283,528 and 0, respectively......................................................... $ 19.46 $ N/A ============== ============ NUMBER OF SHARES AUTHORIZED.......................................................... 100,000,000 N/A ============== ============ Institutional Class Shares -- based on net assets of $6,522,355 and $4,917,336 and shares outstanding of 335,372,731 and 354,537,647, respectively..................... $ 19.45 $ 13.87 ============== ============ NUMBER OF SHARES AUTHORIZED.......................................................... 1,500,000,000 900,000,000 ============== ============ Investments in Affiliated Investment Companies at Cost............................... $ 5,271,385 $ -- ============== ============ Investments at Cost.................................................................. $ -- $ 2,517,490 ============== ============ NET ASSETS CONSIST OF: Paid-In Capital...................................................................... $ 5,868,866 $ 2,977,770 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)............................................................................. 14,422 12,679 Accumulated Net Realized Gain (Loss)................................................. (612,632) (399,331) Net Unrealized Foreign Exchange Gain (Loss).......................................... 348 -- Net Unrealized Appreciation (Depreciation)........................................... 1,256,868 2,326,218 -------------- ------------ NET ASSETS........................................................................... $ 6,527,872 $ 4,917,336 ============== ============ See accompanying Notes to Financial Statements. 213 DIMENSIONAL INVESTMENT GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS) DFA INTERNATIONAL U.S. LARGE VALUE COMPANY PORTFOLIO* PORTFOLIO ------------- ---------- INVESTMENT INCOME Net Investment Income Allocated from Affiliated Investment Companies: Dividends (Net of Foreign Taxes Withheld of $14,975 and $0, respectively)............... $ 193,378 $ -- Interest................................................................................ 5 -- Income from Securities Lending.......................................................... 9,968 -- Expenses Allocated from Affiliated Investment Company................................... (13,256) -- ---------- ---------- Total Net Investment Income Received from Affiliated Investment Companies............ 190,095 -- ---------- ---------- FUND INVESTMENT INCOME Dividends (Net of Foreign Taxes Withheld of $0 and $55, respectively)................... $ -- $ 99,082 Interest................................................................................ -- 81 Income from Securities Lending.......................................................... -- 334 ---------- ---------- Total Investment Income.............................................................. -- 99,497 ---------- ---------- EXPENSES Investment Advisory Services Fees....................................................... -- 1,120 Administrative Services Fees............................................................ 11,871 2,066 Accounting & Transfer Agent Fees........................................................ 67 348 S&P 500(R) Fees......................................................................... -- 98 Shareholder Servicing Fees -- Class R2 Shares........................................... 18 -- Custodian Fees.......................................................................... -- 54 Filing Fees............................................................................. 92 67 Shareholders' Reports................................................................... 159 122 Directors'/Trustees' Fees & Expenses.................................................... 64 48 Professional Fees....................................................................... 77 445 Other................................................................................... 87 88 ---------- ---------- Total Expenses....................................................................... 12,435 4,456 ---------- ---------- Fees (Waived), Expenses Reimbursed, and/or Previously Waived Fees Recovered by Advisor (Note C)............................................................................... -- (229) ---------- ---------- Net Expenses............................................................................ 12,435 4,227 ---------- ---------- NET INVESTMENT INCOME (LOSS)............................................................ 177,660 95,270 ---------- ---------- REALIZED AND UNREALIZED GAIN (LOSS) Capital Gain Distributions Received from Investment Securities -- 409 Net Realized Gain (Loss) on: Investment Securities Sold............................................................ 296,792 180,412 Futures............................................................................... (1,213) 8,021 Foreign Currency Transactions**....................................................... (1,636) -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency............................................ 993,902 780,086 Futures............................................................................... 27 2,321 Translation of Foreign Currency Denominated Amounts................................... 396 -- ---------- ---------- NET REALIZED AND UNREALIZED GAIN (LOSS)................................................. 1,288,268 971,249 ---------- ---------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS........................... $1,465,928 $1,066,519 ========== ========== ---------- * Investment Income and Realized and Unrealized Gain (Loss) were allocated from the Portfolio's Master Fund (Affiliated Investment Company). **Net of foreign capital gain taxes withheld of $2 and $0, respectively. See accompanying Notes to Financial Statements. 214 DIMENSIONAL INVESTMENT GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (AMOUNTS IN THOUSANDS) DFA INTERNATIONAL VALUE U.S. LARGE COMPANY PORTFOLIO PORTFOLIO ------------------------ ---------------------- YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2013 2012 ----------- ----------- ---------- ---------- INCREASE (DECREASE) IN NET ASSETS Operations: Net Investment Income (Loss).................................. $ 177,660 $ 186,021 $ 95,270 $ 83,523 Capital Gain Distributions Received from Investment Securities................................................... -- -- 409 543 Net Realized Gain (Loss) on: Investment Securities Sold.................................. 296,792 74,190 180,412 68,937 Futures..................................................... (1,213) -- 8,021 12,993 Foreign Currency Transactions*.............................. (1,636) (951) -- -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.................. 993,902 (96,127) 780,086 393,550 Futures..................................................... 27 -- 2,321 (3,799) Translation of Foreign Currency Denominated Amounts......... 396 (209) -- -- ----------- ----------- ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations................................................ 1,465,928 162,924 1,066,519 555,747 ----------- ----------- ---------- ---------- Distributions From: Net Investment Income: Class R2 Shares............................................. (218) (205) -- -- Institutional Class Shares.................................. (189,040) (180,761) (94,840) (81,785) ----------- ----------- ---------- ---------- Total Distributions........................................ (189,258) (180,966) (94,840) (81,785) ----------- ----------- ---------- ---------- Capital Share Transactions (1): Shares Issued................................................. 1,466,636 1,339,320 774,924 610,737 Shares Issued in Lieu of Cash Distributions................... 178,512 168,269 82,335 70,255 Shares Redeemed............................................... (1,881,241) (1,295,677) (948,938) (879,631) ----------- ----------- ---------- ---------- Net Increase (Decrease) from Capital Share Transactions.... (236,093) 211,912 (91,679) (198,639) ----------- ----------- ---------- ---------- Total Increase (Decrease) in Net Assets.................... 1,040,577 193,870 880,000 275,323 NET ASSETS Beginning of Year............................................. 5,487,295 5,293,425 4,037,336 3,762,013 ----------- ----------- ---------- ---------- End of Year................................................... $ 6,527,872 $ 5,487,295 $4,917,336 $4,037,336 =========== =========== ========== ========== (1) SHARES ISSUED AND REDEEMED: Shares Issued................................................. 83,922 89,258 62,326 57,663 Shares Issued in Lieu of Cash Distributions................... 10,436 11,721 6,727 6,768 Shares Redeemed............................................... (107,838) (86,334) (76,529) (82,571) ----------- ----------- ---------- ---------- Net Increase (Decrease) from Shares Issued and Redeemed.................................................. (13,480) 14,645 (7,476) (18,140) =========== =========== ========== ========== UNDISTRIBUTED NET INVESTMENT INCOME (DISTRIBUTIONS IN EXCESS OF NET INVESTMENT INCOME)...................................... $ 14,422 $ 27,224 $ 12,679 $ 12,249 ---------- * Net of foreign capital gain taxes withheld of $2, $0, $0 and $0, respectively. See accompanying Notes to Financial Statements. 215 DIMENSIONAL INVESTMENT GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) DFA INTERNATIONAL VALUE PORTFOLIO-CLASS R2 SHARES+ ------------------------------------------------ YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 ----------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $15.72 $15.83 $17.82 $17.13 $13.58 ------ ------ ------ ------ ------ Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.49 0.51 0.53 0.37 0.42 Net Gains (Losses) on Securities (Realized and Unrealized). 3.77 (0.13) (2.00) 1.29 4.10 ------ ------ ------ ------ ------ Total from Investment Operations.......................... 4.26 0.38 (1.47) 1.66 4.52 ----------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.52) (0.49) (0.52) (0.97) (0.97) ------ ------ ------ ------ ------ Total Distributions....................................... (0.52) (0.49) (0.52) (0.97) (0.97) ----------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $19.46 $15.72 $15.83 $17.82 $17.13 ============================================================= ========= ========= ========= ========= ========= Total Return................................................. 27.61% 2.70% (8.53)% 10.60% 34.86% ----------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $5,517 $6,407 $6,102 $4,952 $3,443 Ratio of Expenses to Average Net Assets (B).................. 0.69% 0.71% 0.71% 0.72% 0.74% Ratio of Net Investment Income to Average Net Assets......... 2.84% 3.33% 2.97% 2.11% 2.96% ----------------------------------------------------------------------------------------------------------------- DFA INTERNATIONAL VALUE PORTFOLIO-INSTITUTIONAL CLASS SHARES ----------------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 15.72 $ 15.83 $ 17.81 $ 16.46 $ 12.54 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.52 0.54 0.58 0.39 0.40 Net Gains (Losses) on Securities (Realized and Unrealized). 3.78 (0.12) (1.99) 1.34 3.92 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations.......................... 4.30 0.42 (1.41) 1.73 4.32 -------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.57) (0.53) (0.57) (0.38) (0.40) ---------- ---------- ---------- ---------- ---------- Total Distributions....................................... (0.57) (0.53) (0.57) (0.38) (0.40) -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 19.45 $ 15.72 $ 15.83 $ 17.81 $ 16.46 ============================================================= ========== ========== ========== ========== ========== Total Return................................................. 27.90% 2.98% (8.26)% 10.94% 35.11% -------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $6,522,355 $5,480,888 $5,287,323 $5,157,857 $4,437,846 Ratio of Expenses to Average Net Assets (B).................. 0.43% 0.45% 0.45% 0.45% 0.46% Ratio of Net Investment Income to Average Net Assets......... 3.00% 3.54% 3.26% 2.34% 3.00% -------------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. + All per share amounts and net assets values prior to November 19, 2010 have been adjusted as a result of the reverse stock split on November 19, 2010. (Note G) See accompanying Notes to Financial Statements. 216 DIMENSIONAL INVESTMENT GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) U.S. LARGE COMPANY PORTFOLIO ------------------------------------------------- YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 ------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year.................................... $ 11.15 $ 9.90 $ 9.34 $ 8.16 ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)..................................... 0.27 0.22 0.19 0.18 Net Gains (Losses) on Securities (Realized and Unrealized)........... 2.71 1.25 0.56 1.15 ---------- ---------- ---------- ---------- Total from Investment Operations................................... 2.98 1.47 0.75 1.33 ------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income................................................ (0.26) (0.22) (0.19) (0.15) ---------- ---------- ---------- ---------- Total Distributions................................................ (0.26) (0.22) (0.19) (0.15) ------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year.......................................... $ 13.87 $ 11.15 $ 9.90 $ 9.34 ===================================================================== ========== ========== ========== ========== Total Return.......................................................... 27.10% 15.02% 8.09% 16.47% ------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)................................... $4,917,336 $4,037,336 $3,762,013 $3,712,973 Ratio of Expenses to Average Net Assets............................... 0.09% 0.10% 0.10% 0.10%** Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees).... 0.10% 0.10% 0.10% 0.11%** Ratio of Net Investment Income to Average Net Assets.................. 2.13% 2.10% 1.95% 1.99% Portfolio Turnover Rate............................................... 3% 4% 4% 1%* ------------------------------------------------------------------------------------------------------------------------- --------- YEAR ENDED OCT. 31, 2009 ----------------------------------------------------------------------------------- Net Asset Value, Beginning of Year.................................... $ 7.62 -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)..................................... 0.18 Net Gains (Losses) on Securities (Realized and Unrealized)........... 0.55 -------- Total from Investment Operations................................... 0.73 ----------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income................................................ (0.19) -------- Total Distributions................................................ (0.19) ----------------------------------------------------------------------------------- Net Asset Value, End of Year.......................................... $ 8.16 ===================================================================== ======== Total Return.......................................................... 10.07% ----------------------------------------------------------------------------------- Net Assets, End of Year (thousands)................................... $785,689 Ratio of Expenses to Average Net Assets............................... 0.10%(B) Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees).... 0.13%(B) Ratio of Net Investment Income to Average Net Assets.................. 2.53% Portfolio Turnover Rate............................................... N/A ----------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. * For the period September 10, 2010 through October 31, 2010. Effective September 10, 2010, the Portfolio directly invests in securities rather than through The U.S. Large Company Series. **Represents the combined ratios for the portfolio and for the period November 1, 2009 through September 9, 2010, its respective pro-rata share of The U.S. Large Company Series. See accompanying Notes to Financial Statements. 217 DIMENSIONAL INVESTMENT GROUP INC. NOTES TO FINANCIAL STATEMENTS A. ORGANIZATION: Dimensional Investment Group, Inc. (the "Fund") is an open-end management investment company registered under the Investment Company Act of 1940, whose shares are generally offered to institutional investors, retirement plans and clients of registered investment advisors. The Fund consists of fifteen portfolios, two of which, DFA International Value Portfolio and U.S. Large Company Portfolio (the "Portfolios"), are presented in this section of the report. The remaining operational portfolios are presented in separate reports. DFA International Value Portfolio (the "Feeder Fund") primarily invests its assets in The DFA International Value Series (the "Series"), a corresponding series of The DFA Investment Trust Company. At October 31, 2013, the Feeder Fund owned 76% of the Series. The financial statements of the Series are included elsewhere in this report and should be read in conjunction with the financial statements of the Feeder Fund. On March 1, 2010, the Board of Directors of DFA Investment Dimensions Group Inc. and the Fund approved an Agreement and Plan of Reorganization (the "Plan") which provided that (i) U.S. Large Company Institutional Index Portfolio (the "Acquiring Fund"), a portfolio of the Fund would acquire substantially all of the assets of U.S. Large Company Portfolio (the "Target Fund"), a portfolio of DFA Investment Dimensions Group Inc. in exchange solely for shares of capital stock of the Acquiring Fund; (ii) the shares of the Acquiring Fund would be distributed to the shareholders of the Target Fund according to their respective interests in the Target Fund; and (iii) the Target Fund would be liquidated and dissolved (the "Reorganization"). In conjunction with completing the Reorganization, the Acquiring Fund would change its name to "U.S. Large Company Portfolio." The Reorganization took place on May 7, 2010 and the Acquiring Fund changed its name to U.S. Large Company Portfolio effective May 8, 2010. The purpose of the transaction was to lower fees for the shareholders of the Target Fund and create operating efficiencies from economies of scale. The Reorganization was accomplished by a tax-free exchange of the following shares on May 7, 2010: VALUE TARGET FUND SHARES ACQUIRING FUND SHARES (IN THOUSANDS) ----------- ---------- -------------------------------- ----------- -------------- U.S. Large Company U.S. Large Company Portfolio. 83,482,168 Institutional Index Portfolio 311,973,980 $2,731,987 The net assets, including net unrealized appreciation (depreciation) of the Target Fund, immediately before the acquisition were as follows (in thousands): UNREALIZED APPRECIATION TARGET FUND NET ASSETS (DEPRECIATION) ACQUIRING FUND NET ASSETS ----------- ---------- ----------------------- ------------------------------- ---------- U.S. Large Company U.S. Large Company Portfolio. $2,731,987 $315,984 Institutional Index Portfolio $870,696 Assuming the acquisition had been completed on November 1, 2009, U.S. Large Company Portfolio's result of operations for the year ended October 31, 2010 would have been as follows (in thousands): Net Investment Income.................................. $ 71,681(a) Net Realized and Unrealized Gain (Loss) on Investments. 501,073(b) -------- Net Increase in Net Assets Resulting from Operations... $572,754 ======== (a)$43,125 as reported in the Statement of Operations, plus $27,799 Net Investment Income from U.S. Large Company Portfolio pre-merger, plus $757 of pro-forma eliminated expenses. (b)$596,596 as reported in the Statement of Operations, less $95,523 Net Realized and Unrealized Gain (Loss) on Investments from U.S. Large Company Portfolio pre-merger. 218 Because both U.S. Large Company Portfolio and U.S. Large Company Institutional Index Portfolio sold and redeemed shares throughout the period, it is not practicable to provide pro-forma information on a per-share basis. Prior to September 10, 2010, U.S. Large Company Portfolio invested substantially all of its assets in shares of The U.S. Large Company Series. At the close of business on September 9, 2010, U.S. Large Company Portfolio received its pro-rata share of cash and securities from The U.S. Large Company Series in a complete liquidation of its interest in the Series. Effective September 10, 2010, U.S. Large Company Portfolio invests directly in securities rather than through the Series and maintains the same investment objective. B. SIGNIFICANT ACCOUNTING POLICIES: The following significant accounting policies are in conformity with accounting principles generally accepted in the United States of America. Such policies are consistently followed by the Fund in preparation of its financial statements. The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the fair value of investments, the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates and those differences could be material. 1. SECURITY VALUATION: The Portfolios utilize a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels described below: . Level 1 - inputs are quoted prices in active markets for identical securities (including equity securities, open-end investment companies, futures contracts) . Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) . Level 3 - significant unobservable inputs (including the Portfolios' own assumptions in determining the fair value of investments) The Feeder Fund's investment reflects its proportionate interest in the net assets of the Series. This valuation is classified as Level 1 in the hierarchy. Securities held by U.S. Large Company Portfolio, including over-the-counter securities, are valued at the last quoted sale price at the close of the exchanges on which they are principally traded (official closing price). Securities held by the Portfolio that are listed on Nasdaq are valued at the Nasdaq Official Closing Price ("NOCP"). If there is no last reported sale price or NOCP for the day, the Portfolio values the securities at the mean of the most recent quoted bid and asked prices which approximate fair value. Price information on listed securities is taken from the exchange where the security is primarily traded. Generally, securities issued by open-end investment companies are valued using their respective net asset values or public offering prices, as appropriate, for purchase orders placed at the close of the New York Stock Exchange (NYSE). These securities are generally categorized as Level 1 in the hierarchy. Securities for which no market quotations are readily available (including restricted securities), or for which market quotations have become unreliable, are valued in good faith at fair value in accordance with procedures adopted by the Board of Directors/Trustees. Fair value pricing may also be used if events that have a significant effect on the value of an investment (as determined in the discretion of the Investment Committee of Dimensional Fund Advisors LP) occur before the net asset value is calculated. When fair value pricing is used, the prices of securities used by the Portfolio may differ from the quoted or published prices for the same securities on their primary markets or exchanges. These securities are generally categorized as Level 2 in the hierarchy. Futures contracts held by U.S. Large Company Portfolio are valued using the settlement price established each day on the exchange on which they are traded. These valuations are generally categorized as Level 1 in the hierarchy. A summary of the inputs used to value the Portfolios' investments by each major security type, industry and/or country is disclosed previously in this note. A valuation hierarchy table has been included at the end of the 219 Summary Schedule of Portfolio Holdings/Schedule of Investments. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For the year ended October 31, 2013, there were no significant transfers between Level 1 and Level 2 and no Level 3 investments held by the Portfolios. 2. DEFERRED COMPENSATION PLAN: Each eligible Director/Trustee of the Fund may elect participation in The Fee Deferral Plan for Independent Directors and Trustees (the "Plan"). Under the Plan, effective January 1, 2002, such Directors/Trustees may defer payment of all or a portion of their total fees earned as a Director/Trustee. These deferred amounts may be treated as though such amounts had been invested in shares of the following funds: U.S. Large Cap Value Portfolio; U.S. Core Equity 1 Portfolio; U.S. Core Equity 2 Portfolio; U.S. Vector Equity Portfolio; U.S. Micro Cap Portfolio; DFA International Value Portfolio; International Core Equity Portfolio; Emerging Markets Portfolio; Emerging Markets Core Equity Portfolio; and/or DFA Two-Year Global Fixed Income Portfolio. Contributions made under the Plan and the change in unrealized appreciation (depreciation) and income are included in Directors'/Trustees' Fees & Expenses. Each Director/Trustee has the option to receive their distribution of proceeds in one of the following methods: lump sum; annual installments over a period of agreed upon years; or quarterly installments over a period of agreed upon years. Each Director/Trustee shall have the right in a notice of election (the "Notice") to defer the receipt of the Director's/Trustee's deferred compensation until a date specified by such Director/Trustee in the Notice, which date may not be sooner than the earlier of: (i) the first business day of January following the year in which such Director/Trustee ceases to be a member of the Board; and (ii) five years following the effective date of the Director's/Trustee's first deferral election. If a Director/Trustee who elects to defer fees fails to designate in the Notice a time or date as of which payment of the Director's/Trustee's deferred fee account shall commence, payment of such amount shall commence as of the first business day of January following the year in which the Director/Trustee ceases to be a member of the Board (unless the Director/Trustee files an amended Notice selecting a different distribution date). As of October 31, 2013, none of the Directors/Trustees have requested or received a distribution of proceeds of a deferred fee account. 3. OTHER: The Feeder Fund recognizes its pro-rata share, on a daily basis, of net investment income and realized and unrealized gains and losses of investment securities from the Series, which is treated as a partnership for federal income tax purposes. Dividend income and distributions to shareholders are recorded on the ex-dividend date. Distributions received on securities that represent a return of capital or capital gains are recorded as a reduction of cost of investments or as a realized gain, respectively. The Portfolios estimate the character of distributions received that may be considered return of capital distributions. Expenses directly attributable to a Portfolio are directly charged. Common expenses of the Fund or Portfolios are allocated using methods approved by the Board of Directors/Trustees, generally based on average net assets. Class R2 Shares and Institutional Class Shares have equal rights to assets and earnings of the Feeder Fund. Income, gains and losses, and common expenses of the Feeder Fund are allocated to each class of shares based on its relative net assets. Each class will bear its own class-specific expenses, if any. C. INVESTMENT ADVISOR: The Advisor, Dimensional Fund Advisors LP, provides administrative services to the Portfolios, including supervision of services provided by others, providing information to shareholders and the Board, and other administrative services. The Advisor provides investment advisory services to the U.S. Large Company Portfolio and the Series. The Advisor receives no additional compensation for the investment advisory services it provides to the Feeder Fund. For the year ended October 31, 2013, the Portfolios' administrative services fees were accrued daily and paid monthly to the Advisor based on the following effective annual rates of average daily net assets: DFA International Value Portfolio. 0.20% U.S. Large Company Portfolio*..... 0.05% * The administrative services fee has been adjusted to reflect the actual fee paid by the Portfolio for the year ended October 31, 2013 as a result of a decrease in the administrative services fee from 0.05% to 0.035% effective August 1, 2013. 220 For the year ended October 31, 2013, the U.S. Large Company Portfolio's investment advisory services fees were accrued daily and paid monthly to the Advisor based on the following effective annual rates of average daily net assets: U.S. Large Company Portfolio. 0.025% Pursuant to an Amended and Restated Fee Waiver and/or Expense Assumption Agreement, the Advisor has contractually agreed to waive certain fees, including administration/advisory fees, and in certain instances, assume certain expenses of the Portfolios, as described in the notes below. The Amended and Restated Fee Waiver and/or Expense Assumption Agreements for the DFA International Value Portfolio and the U.S. Large Company Portfolio will remain in effect through February 28, 2014 and February 28, 2015, respectively, and shall continue in effect from year to year thereafter unless terminated by the Fund or the Advisor. For the year ended October 31, 2013, the Portfolios had expense limits based on a percentage of average net assets on an annualized basis, and the Advisor recovered previously waived fees and/or expenses assumed as listed below (amounts in thousands). The Portfolios are not obligated to reimburse the Advisor for fees previously waived or expenses previously assumed by the Advisor more than thirty-six months before the date of recovery. PREVIOUSLY RECOVERY WAIVED FEES/ OF PREVIOUSLY EXPENSES WAIVED FEES/ ASSUMED EXPENSE EXPENSES SUBJECT TO FUTURE LIMITATION AMOUNT ASSUMED RECOVERY ----------------- ------------- ----------------- DFA International Value Portfolio -- Class R2 Shares (1). 0.79% -- -- U.S. Large Company Portfolio (2)......................... 0.08% $123 $519 (1) The Advisor has contractually agreed to assume the direct expenses of the Class R2 shares of the Portfolio (excluding management fees and custodian fees and excluding any applicable 12b-1 fees) to the extent necessary to limit the annualized expenses (excluding the expenses the Portfolio incurs indirectly through investment in other investment companies) of the Class R2 shares of the Portfolio to the rate listed above as a percentage of average net assets on an annualized basis (the "Expense Limitation Amount"). At any time that the annualized expenses of the Class R2 shares of the Portfolio are less than the Expense Limitation Amount listed above for the Portfolio, the Advisor retains the right to recover any fees previously waived and/or expenses previously assumed to the extent that such recovery will not cause the Portfolio's Class R2 shares' annualized expenses to exceed the Expense Limitation Amount, as listed above. (2) Effective August 1, 2013, the Advisor has contractually agreed to waive all or a portion of its administration fee to the extent necessary to reduce the ordinary operating expenses (excluding expenses incurred through investment in other investment companies and excluding any applicable 12b-1 fees) ("Portfolio Expenses") of the Portfolio so that the Portfolio Expenses, on an annualized basis, do not exceed the rate listed above as a percentage of the Portfolio's average net assets (the "Expense Limitation Amount"). At any time that the annualized Portfolio Expenses of the Portfolio are less than the Expense Limitation Amount listed above for the Portfolio, the Advisor retains the right to recover any fees previously waived and/or expenses previously assumed to the extent that the amount of such recovery will not cause the annualized Portfolio Expenses of the Portfolio to exceed the Expense Limitation Amount, as listed above. Prior to August 1, 2013, the Advisor contractually agreed to waive all or a portion of its administration fee to the extent necessary to reduce the ordinary operating expenses (excluding expenses incurred through investment in other investment companies and excluding any applicable 12b-1 fees) ("Portfolio Expenses") of the Portfolio so that such Portfolio Expenses did not exceed 0.10% of the Portfolio's average net assets on an annualized basis (the "Previous Expense Limitation Amount"). At any time that the Portfolio Expenses of the Portfolio were less than the Previous Expense Limitation Amount, the Advisor retained the right to recover any fees previously waived and/or expenses previously assumed to the extent that such recovery did not cause the Portfolio's annualized Portfolio Expenses to exceed the Previous Expense Limitation Amount. 221 FEES PAID TO OFFICERS AND DIRECTORS/TRUSTEES: Certain Officers and Directors/Trustees of the Advisor are also Officers and Directors/Trustees of the Fund; however, such Officers and Directors/Trustees (with the exception of the Chief Compliance Officer ("CCO")) receive no compensation from the Fund. For the year ended October 31, 2013, the total related amounts paid by the Fund to the CCO were $30 (in thousands). The total related amounts paid by each Portfolio are included in Other Expenses on the Statement of Operations. D. DEFERRED COMPENSATION: At October 31, 2013, the total liability for deferred compensation to Directors/Trustees is included in Accrued Expenses and Other Liabilities on the Statement of Assets and Liabilities as follows (amounts in thousands): DFA International Value Portfolio. $180 U.S. Large Company Portfolio...... 240 E. PURCHASES AND SALES OF SECURITIES: For the year ended October 31, 2013, U.S. Large Company Portfolio made the following purchases and sales of investment securities, other than short-term securities and U.S. government securities (amounts in thousands): PURCHASES SALES --------- -------- U.S. Large Company Portfolio. $133,472 $289,064 There were no purchases or sales of long-term U.S. government securities. F. FEDERAL INCOME TAXES: Each Portfolio has qualified and intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code for federal income tax purposes and to distribute substantially all of its taxable income and net capital gains to its shareholders. Accordingly, no provision has been made for federal income taxes. Distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from those amounts determined under accounting principles generally accepted in the United States of America. These book/tax differences are either temporary or permanent in nature. To the extent these differences are permanent, they are charged or credited to paid-in capital, undistributed net investment income, accumulated net realized gains or losses, or unrealized appreciation, as appropriate, in the period that the differences arise. Accordingly, the following permanent differences as of October 31, 2013, primarily attributable to net foreign currency gains/losses, foreign capital gains tax reclass and realized gains on securities considered to be "passive foreign investment companies", were reclassified to the following accounts. These reclassifications had no effect on net assets or net asset value per share (amounts in thousands): INCREASE INCREASE (DECREASE) (DECREASE) UNDISTRIBUTED ACCUMULATED NET INVESTMENT NET REALIZED INCOME GAINS (LOSSES) -------------- -------------- DFA International Value Portfolio. $(1,204) $1,204 U.S. Large Company Portfolio...... -- -- 222 The tax character of dividends and distributions declared and paid during the years ended October 31, 2012 and October 31, 2013 were as follows (amounts in thousands): NET INVESTMENT INCOME AND SHORT-TERM CAPITAL GAINS TOTAL -------------- -------- DFA International Value Portfolio 2012.............................. $180,966 $180,966 2013.............................. 189,258 189,258 U.S. Large Company Portfolio 2012.............................. 81,785 81,785 2013.............................. 94,840 94,840 At October 31, 2013, the components of distributable earnings (accumulated losses) were as follows (amounts in thousands): UNDISTRIBUTED TOTAL NET NET INVESTMENT DISTRIBUTABLE INCOME AND CAPITAL OTHER UNREALIZED EARNINGS SHORT-TERM LOSS TEMPORARY APPRECIATION (ACCUMULATED CAPITAL GAINS CARRYFOWARD DIFFERENCES (DEPRECIATION) LOSSES) -------------- ----------- ----------- -------------- ------------- DFA International Value Portfolio. $19,332 $(611,811) -- $1,251,780 $ 659,301 U.S. Large Company Portfolio...... 12,923 (180,406) $46,568 2,060,725 1,939,810 For federal income tax purposes, the Fund measures its capital loss carryforwards annually at October 31, its fiscal year end. Capital loss carryforwards may be carried forward and applied against future capital gains. Under the Regulated Investment Company Modernization Act of 2010, capital losses incurred by these Portfolios after October 31, 2011 will not be subject to expiration and will retain their character as either short-term or long-term capital losses. In addition, such losses must be utilized prior to the losses incurred in the years preceding enactment. As of October 31, 2013, the Portfolios had the following capital loss carryforwards available to offset future realized capital gains through the indicated expiration dates (amounts in thousands): EXPIRES ON OCTOBER 31, ------------------------ 2016 2017 2018 TOTAL -------- ------- ------- -------- DFA International Value Portfolio. $611,811 -- -- $611,811 U.S. Large Company Portfolio...... 55,911 $80,822 $43,673 180,406 During the year ended October 31, 2013, the Portfolios utilized the following capital loss carryforwards to offset realized capital gains for federal income tax purposes (amount in thousands): DFA International Value Portfolio. $295,092 U.S. Large Company Portfolio...... 166,609 At October 31, 2013, the total cost and aggregate gross unrealized appreciation and (depreciation) of securities for federal income tax purposes were different from amounts reported for financial reporting purposes (amounts in thousands): NET UNREALIZED FEDERAL UNREALIZED APPRECIATION TAX COST APPRECIATION (DEPRECIATION) ---------- ------------ -------------- DFA International Value Portfolio. $5,276,821 $1,251,432 $1,251,432 U.S. Large Company Portfolio...... 2,991,240 2,062,991 2,062,991 223 The difference between book basis and tax-basis unrealized appreciation (depreciation) is primarily attributable to the tax deferral of losses on wash sales and investments in passive foreign investment companies. Accounting for Uncertainty in Income Taxes sets forth a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken on a tax return. Management has analyzed the Portfolios' tax positions and has concluded that no additional provision for income tax is required in the Portfolios' financial statements. The Portfolios are not aware of any tax positions for which it is more likely than not that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. The Portfolios' federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service. G. CAPITAL SHARE TRANSACTIONS: The capital share transactions by class were as follows (amounts in thousands): YEAR ENDED YEAR ENDED OCT. 31, 2013 OCT. 31, 2012 --------------------- -------------------- AMOUNT SHARES AMOUNT SHARES ----------- -------- ----------- ------- DFA INTERNATIONAL VALUE PORTFOLIO Class R2 Shares Shares Issued........................................ $ 1,969 112 $ 2,362 154 Shares Issued in Lieu of Cash Distributions.......... 218 13 204 14 Shares Redeemed...................................... (4,454) (249) (2,235) (146) ----------- -------- ----------- ------- Net Increase (Decrease) -- Class R2 Shares............ $ (2,267) (124) $ 331 22 =========== ======== =========== ======= Institutional Class Shares Shares Issued........................................ $ 1,464,667 83,810 $ 1,336,958 89,104 Shares Issued in Lieu of Cash Distributions.......... 178,294 10,423 168,065 11,707 Shares Redeemed...................................... (1,876,787) (107,589) (1,293,442) (86,188) ----------- -------- ----------- ------- Net Increase (Decrease) -- Institutional Class Shares. $ (233,826) (13,356) $ 211,581 14,623 =========== ======== =========== ======= On October 29, 2010, the Board of Directors/Trustees adopted a Plan of Recapitalization of the Feeder Fund's Class R2 Shares. On November 19, 2010, a reverse stock split was executed whereby each shareholder of Class R2 Shares received one share for every 2.631 shares held. The purpose of the reverse split was to reduce the number of Class R2 Shares, thereby increasing the net asset value of each Class R2 Share outstanding in order to more closely align the net asset value with the net asset value of the Feeder Fund's Institutional Class Shares. The per share data in the financial highlights, capital share activity in the statements of changes in net assets and the outstanding shares and net asset value as of October 31, 2010 in the statement of assets and liabilities have been adjusted retroactively to reflect the reverse stock splits for the respective Class R2 Shares. H. FINANCIAL INSTRUMENTS: In accordance with U.S. Large Company Portfolio's investment objective and policies, the Portfolio may invest in certain financial instruments that have off-balance sheet risk in excess of the amounts recognized in the financial statements and concentrations of credit and market risk. These instruments and their significant corresponding risks are described below: 1. REPURCHASE AGREEMENTS: U.S. Large Company Portfolio may purchase certain U.S. Government securities subject to the counterparty's agreement to repurchase them at an agreed upon date and price. The counterparty will be required on a daily basis to maintain the value of the collateral subject to the agreement at not less than the repurchase price (including accrued interest). The agreements are conditioned upon the collateral being deposited under the Federal Reserve book-entry system with U.S. Large Company Portfolio's custodian or a third party sub-custodian. In the event of default or bankruptcy by the other party to the agreement, retention of the collateral may be subject to legal proceedings. 224 DERIVATIVE FINANCIAL INSTRUMENTS: Summarized below are the specific types of derivative instruments used by the Portfolios. 2. FUTURES CONTRACTS: The Portfolios may enter into futures contracts to gain market exposure on uninvested cash pending investment in securities or to maintain liquidity to pay redemptions. Subsequent payments are received from or paid to the broker each day, based on the daily fluctuation in the market value of the contract. These receipts or payments are known as "variation margin" and are recorded daily by the Portfolios as unrealized gains or losses until the contracts are closed. When the contracts are closed, the Portfolios record a realized gain or loss, which is presented in the Statements of Operations as a net realized gain or loss on futures, equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. Risks may arise upon entering into futures contracts from potential imperfect price correlations between the futures contracts and the underlying securities, from the possibility of an illiquid secondary market for these instruments and from the possibility that the Portfolios could lose more than the initial margin requirements. Entering into stock index futures subjects the Portfolios to equity price risk from those futures contracts. Counterparty credit risk related to exchange-traded futures is minimal because the exchange's clearinghouse, as counterparty to all exchange-traded futures, guarantees the futures against default. At October 31, 2013, the U.S. Large Company Portfolio had outstanding futures contracts (dollar amounts in thousands): APPROXIMATE EXPIRATION NUMBER OF CONTRACT UNREALIZED CASH DESCRIPTION DATE CONTRACTS* VALUE GAIN (LOSS) COLLATERAL ----------------------- ---------- ---------- -------- ----------- ----------- U.S. Large Company Portfolio........ S&P 500(R) Emini Index 12/20/13 839 $73,454 $2,266 $3,440 * During the year ended October 31, 2013, U.S. Large Company Portfolio's average notional contract amount of outstanding futures contracts was $56,242 (in thousands). The following is a summary of U.S. Large Company Portfolio's location and value of derivative instrument holdings on the Portfolio's Statements of Assets and Liabilities categorized by primary risk exposure for the year ended October 31, 2013 (amounts in thousands): ASSET DERIVATIVES VALUE ------------------------ LOCATION ON THE STATEMENTS OF ASSETS AND LIABILITIES EQUITY CONTRACTS ------------------------ ------------------------ U.S. Large Company Payables: Futures Margin $2,266* Portfolio Variation * Includes cumulative appreciation (depreciation) of futures contracts. Only current day's margin variation is reported within the Statement of Assets and Liabilities. The following is a summary of the location of realized and change in unrealized gains and losses on U.S. Large Company Portfolio's Statement of Operations for the Portfolio's derivative instrument holdings for the year ended October 31, 2013: DERIVATIVE TYPE LOCATION OF GAIN (LOSS) ON DERIVATIVES RECOGNIZED IN INCOME --------------- ----------------------------------------------------------- Equity contracts Net Realized Gain (Loss) on: Futures Change in Unrealized Appreciation (Depreciation) of: Futures 225 The following is a summary of the realized and change in unrealized gains and losses from U.S. Large Company Portfolio's direct investment in derivative instrument holdings categorized by primary risk exposure through the year ended October 31, 2013 (amounts in thousands): REALIZED GAIN (LOSS) ON DERIVATIVES RECOGNIZED IN INCOME -------------------------------- EQUITY CONTRACTS -------------------------------- U.S. Large Company Portfolio. $8,021 CHANGE IN UNREALIZED APPRECIATION (DEPRECIATION) ON DERIVATIVES RECOGNIZED IN INCOME -------------------------------- EQUITY CONTRACTS -------------------------------- U.S. Large Company Portfolio. $2,321 I. LINE OF CREDIT: The Fund, together with other Dimensional-advised portfolios, entered into a $250 million unsecured discretionary line of credit effective June 22, 2011 with The Bank of New York Mellon, which was terminated by The Bank of New York Mellon effective March 29, 2013. Prior to termination, each portfolio was permitted to borrow, subject to its investment limitations, up to a maximum of $250 million, as long as total borrowings under the line of credit did not exceed $250 million in the aggregate. Borrowings under the line of credit were charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio was individually, and not jointly, liable for its particular advances under the line of credit. There was no commitment fee on the unused portion of the line of credit. The Fund, together with other Dimensional-advised portfolios, has entered into a $500 million unsecured discretionary line of credit effective March 4, 2013 with its domestic custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. There is no commitment fee on the unused portion of the line of credit. The agreement for the discretionary line of credit may be terminated by either party at any time. The line of credit is scheduled to expire on March 3, 2014. The Fund, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit effective January 11, 2013 with its international custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. There is no commitment fee on the unused portion of the line of credit. The agreement for the line of credit expires on January 10, 2014. For the year ended October 31, 2013, borrowings by the Portfolios under the lines of credit were as follows (amounts in thousands, except percentages and days): WEIGHTED WEIGHTED NUMBER OF INTEREST MAXIMUM AMOUNT AVERAGE AVERAGE DAYS EXPENSE BORROWED DURING INTEREST RATE LOAN BALANCE OUTSTANDING* INCURRED THE PERIOD ------------- ------------ ------------ -------- --------------- U.S. Large Company Portfolio. 0.91% $13,024 8 $3 $28,962 * Number of Days Outstanding represents the total of single or consecutive days during the year ended October 31, 2013, that the Portfolio's available line of credit was utilized. There were no outstanding borrowings by the Portfolios under the lines of credit as of October 31, 2013. 226 J. SECURITIES LENDING: As of October 31, 2013, U.S. Large Company Portfolio had securities on loan to brokers/dealers, for which the Portfolio received cash collateral. The Portfolio invests the cash collateral, as described below, and records a liability for the return of the collateral, during the period the securities are on loan. Loans of securities are expected at all times to be secured by collateral equal to at least (i) 100% of the current market value of the loaned securities with respect to securities of the U.S. government or its agencies, (ii) 102% of the current market value of the loaned securities with respect to U.S. securities, and (iii) 105% of the current market value of the loaned securities with respect to foreign securities. However, daily market fluctuations could cause the Portfolio's collateral to be lower or higher than the expected thresholds. If this were to occur, the collateral would be adjusted the next business day to ensure adequate collateralization. In the event of default or bankruptcy by the other party to the agreement, realization and/or retention of the collateral may be subject to legal proceedings. If the borrower fails to return loaned securities, and cash collateral being maintained by the borrower is insufficient to cover the value of loaned securities and provided such collateral insufficiency is not the result of investment losses, the lending agent has agreed to pay the amount of the shortfall to the Portfolio or, at the option of the lending agent, to replace the securities. Subject to its stated investment policies, the Portfolio will generally invest the cash collateral received for the loaned securities in The DFA Short Term Investment Fund (the "Money Market Series"), an affiliated registered money market fund advised by the Advisor for which the Advisor receives a management fee of 0.05% of the average daily net assets of the Money Market Series. The Portfolio also may invest the cash collateral received for the loaned securities in securities of the U.S. government or its agencies, repurchase agreements collateralized by securities of the U.S. government or its agencies, and affiliated and unaffiliated registered and unregistered money market funds. For purposes of this paragraph, agencies include both agency debentures and agency mortgage-backed securities. In addition, the Portfolio will be able to terminate the loan at any time and will receive reasonable interest on the loan, as well as amounts equal to any dividends, interest or other distributions on the loaned securities. However, dividend income received from loaned securities may not be eligible to be taxed at qualified dividend income rates. K. SHAREHOLDER SERVICING FEES: The Class R2 Shares pay a shareholder servicing fee in the amount of 0.25% of their annual average net assets to compensate service agents that provide shareholder servicing, record keeping, account maintenance and other services to investors in the DFA International Value Portfolio's Class R2 Shares. L. INDEMNITEES; CONTRACTUAL OBLIGATIONS: Under the Fund's organizational documents, its officers and directors are indemnified against certain liabilities arising out of the performance of their duties to the Fund. In the normal course of business, the Fund enters into contracts that contain a variety of representations and warranties which provide general indemnification. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund and/or its affiliates that have not yet occurred. However, based on experience, the Fund expects the risk of loss to be remote. M. RECENTLY ISSUED ACCOUNTING STANDARDS: In January 2013, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") No. 2013-01 "Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities" ("ASU 2013-01") which amended Accounting Standards Codification Subtopic 210-20, Balance Sheet Offsetting. ASU 2013-01 clarified the scope of ASU No. 2011-11 "Disclosures about Offsetting Assets and Liabilities" ("ASU 2011-11"). ASU 2011-11 requires an entity to disclose information about offsetting and related arrangements to enable users of that entity's financial statements to understand the effect of those arrangements on its financial position. ASU 2013-01 clarifies the scope of ASU 2011-11 as applying to derivatives accounted for in accordance with Topic 815, Derivatives and Hedging, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are offset either in accordance with other requirements of GAAP or subject to an enforceable master netting arrangement or similar agreement. ASU No. 2011-11 is effective for annual periods beginning on or after January 1, 2013, and interim periods within those annual periods. Management is evaluating any impact ASU No. 2011-11 may have on the financial statements. 227 N. OTHER: At October 31, 2013, the following number of shareholders held the following approximate percentages of the stated portfolios' outstanding shares. One or more of the shareholders may be omnibus accounts, which typically hold shares for the benefit of several other underlying investors. APPROXIMATE PERCENTAGE NUMBER OF OF OUTSTANDING SHAREHOLDERS SHARES ------------ -------------- DFA International Value Portfolio -- Class R2 Shares............ 5 93% DFA International Value Portfolio -- Institutional Class Shares. 3 64% U.S. Large Company Portfolio.................................... 3 75% O. SUBSEQUENT EVENT EVALUATIONS: On December 13, 2013, the Board of DIG voted to approve the combination of the Investment Advisory Agreement and the Administration Agreement (together, the "Current Agreements") into a bundled Investment Management Agreement for the U.S. Large Company Portfolio. It is expected that the Investment Management Agreement will become effective on February 28, 2014. The nature and level of services to the Portfolio under the Investment Management Agreement will be the same as under the Current Agreements. When the Investment Management Agreement becomes effective, the Portfolio will pay the Advisor an investment management fee that is equal to the sum of the current investment advisory fee and current administration fee that is paid by the Portfolio to the Advisor under the Current Agreements. Management has evaluated the impact of all subsequent events on the Portfolios and has determined that there are no other subsequent events requiring recognition or disclosure in the financial statements. 228 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM TO THE SHAREHOLDERS OF THE PORTFOLIOS, AS DEFINED, AND BOARD OF DIRECTORS OF DIMENSIONAL INVESTMENT GROUP INC.: In our opinion, the accompanying statements of assets and liabilities, including the schedule of investments/summary schedule of portfolio holdings, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of DFA International Value Portfolio and U.S. Large Company Portfolio (constituting portfolios within Dimensional Investment Group Inc., hereafter referred to as the "Portfolios") at October 31, 2013, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period then ended and the financial highlights for each of the five years in the period then ended, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as "financial statements") are the responsibility of the Portfolios' 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, 2013 by correspondence with the custodians, brokers, and the transfer agents of the investee funds, provide a reasonable basis for our opinion. PricewaterhouseCoopers LLP Philadelphia, Pennsylvania December 20, 2013 229 THE DFA INVESTMENT TRUST COMPANY PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- THE U.S. LARGE CAP VALUE SERIES VS. RUSSELL 1000(R) VALUE INDEX OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] The U.S. Large Cap Value Series Russell 1000/R/ Value Index ------------------ ---------------------------- 10/31/2003 $10,000 $10,000 11/30/2003 10,224 10,136 12/31/2003 10,926 10,760 1/31/2004 11,113 10,950 2/29/2004 11,399 11,184 3/31/2004 11,353 11,086 4/30/2004 11,166 10,815 5/31/2004 11,226 10,925 6/30/2004 11,565 11,183 7/31/2004 11,191 11,026 8/31/2004 11,191 11,182 9/30/2004 11,535 11,356 10/31/2004 11,675 11,544 11/30/2004 12,440 12,128 12/31/2004 12,939 12,534 1/31/2005 12,615 12,311 2/28/2005 12,999 12,719 3/31/2005 12,964 12,545 4/30/2005 12,525 12,320 5/31/2005 13,059 12,617 6/30/2005 13,328 12,755 7/31/2005 13,992 13,124 8/31/2005 13,877 13,067 9/30/2005 14,091 13,250 10/31/2005 13,717 12,914 11/30/2005 14,265 13,336 12/31/2005 14,284 13,416 1/31/2006 14,965 13,937 2/28/2006 14,915 14,022 3/31/2006 15,180 14,212 4/30/2006 15,606 14,573 5/31/2006 15,322 14,205 6/30/2006 15,453 14,295 7/31/2006 15,232 14,643 8/31/2006 15,481 14,888 9/30/2006 15,910 15,185 10/31/2006 16,541 15,682 11/30/2006 16,855 16,040 12/31/2006 17,193 16,400 1/31/2007 17,695 16,610 2/28/2007 17,429 16,351 3/31/2007 17,550 16,603 4/30/2007 18,297 17,217 5/31/2007 19,051 17,838 6/30/2007 18,745 17,421 7/31/2007 17,583 16,616 8/31/2007 17,247 16,802 9/30/2007 17,697 17,379 10/31/2007 17,796 17,381 11/30/2007 16,802 16,531 12/31/2007 16,746 16,371 1/31/2008 16,106 15,716 2/29/2008 15,612 15,057 3/31/2008 15,466 14,944 4/30/2008 16,441 15,673 5/31/2008 16,836 15,648 6/30/2008 14,991 14,150 7/31/2008 14,827 14,099 8/31/2008 15,115 14,339 9/30/2008 13,757 13,285 10/31/2008 10,664 10,985 11/30/2008 9,618 10,198 12/31/2008 9,931 10,339 1/31/2009 8,752 9,150 2/28/2009 7,526 7,928 3/31/2009 8,269 8,606 4/30/2009 9,607 9,528 5/31/2009 10,343 10,117 6/30/2009 10,216 10,042 7/31/2009 11,189 10,864 8/31/2009 11,949 11,433 9/30/2009 12,471 11,874 10/31/2009 11,933 11,511 11/30/2009 12,606 12,160 12/31/2009 12,954 12,375 1/31/2010 12,653 12,027 2/28/2010 13,199 12,407 3/31/2010 14,228 13,214 4/30/2010 14,679 13,556 5/31/2010 13,421 12,442 6/30/2010 12,408 11,742 7/31/2010 13,381 12,536 8/31/2010 12,574 12,000 9/30/2010 13,801 12,931 10/31/2010 14,315 13,319 11/30/2010 14,204 13,248 12/31/2010 15,589 14,294 1/31/2011 16,088 14,617 2/28/2011 16,958 15,156 3/31/2011 17,037 15,217 4/30/2011 17,473 15,622 5/31/2011 17,219 15,457 6/30/2011 16,919 15,140 7/31/2011 16,143 14,638 8/31/2011 14,782 13,724 9/30/2011 13,286 12,687 10/31/2011 15,130 14,139 11/30/2011 15,004 14,066 12/31/2011 15,122 14,350 1/31/2012 15,874 14,893 2/29/2012 16,792 15,486 3/31/2012 17,101 15,945 4/30/2012 16,752 15,783 5/31/2012 15,565 14,857 6/30/2012 16,404 15,595 7/31/2012 16,563 15,756 8/31/2012 17,219 16,098 9/30/2012 17,852 16,609 10/31/2012 17,900 16,528 11/30/2012 17,939 16,521 12/31/2012 18,485 16,862 1/31/2013 19,775 17,958 2/28/2013 20,029 18,216 3/31/2013 20,986 18,937 4/30/2013 21,208 19,224 5/31/2013 22,078 19,717 Past performance is not predictive of 6/30/2013 21,833 19,543 future performance. 7/31/2013 23,139 20,599 8/31/2013 22,458 19,817 The returns shown do not reflect the 9/30/2013 23,115 20,314 deduction of taxes that a shareholder 10/31/2013 24,286 21,203 would pay on fund distributions or the redemption of fund shares. AVERAGE ANNUAL ONE FIVE TEN TOTAL RETURN YEAR YEARS YEARS Russell data copyright (C) Russell ---------------------------------------------------------- Investment Group 1995-2013, all rights 35.68% 17.89% 9.28% reserved. -------------------------------------------------------------------------------- THE DFA INTERNATIONAL VALUE SERIES VS. MSCI WORLD EX USA INDEX (NET DIVIDENDS) OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] The DFA International MSCI World ex USA Index Value Series (net dividends) --------------------- ----------------------- 10/31/2003 $10,000 $10,000 11/30/2003 10,214 10,227 12/31/2003 10,981 11,011 1/31/2004 11,262 11,164 2/29/2004 11,601 11,421 3/31/2004 11,782 11,478 4/30/2004 11,426 11,178 5/31/2004 11,542 11,230 6/30/2004 12,019 11,489 7/31/2004 11,575 11,139 8/31/2004 11,726 11,185 9/30/2004 12,101 11,511 10/31/2004 12,564 11,925 11/30/2004 13,498 12,718 12/31/2004 14,170 13,255 1/31/2005 14,029 12,994 2/28/2005 14,584 13,572 3/31/2005 14,224 13,264 4/30/2005 13,792 12,926 5/31/2005 13,810 12,950 6/30/2005 14,031 13,161 7/31/2005 14,657 13,586 8/31/2005 15,140 13,961 9/30/2005 15,566 14,599 10/31/2005 15,332 14,127 11/30/2005 15,605 14,501 12/31/2005 16,369 15,173 1/31/2006 17,487 16,133 2/28/2006 17,655 16,079 3/31/2006 18,400 16,589 4/30/2006 19,332 17,382 5/31/2006 18,549 16,722 6/30/2006 18,432 16,700 7/31/2006 18,716 16,857 8/31/2006 19,360 17,336 9/30/2006 19,628 17,322 10/31/2006 20,499 18,006 11/30/2006 21,181 18,543 12/31/2006 22,007 19,074 1/31/2007 22,422 19,191 2/28/2007 22,402 19,344 3/31/2007 23,126 19,840 4/30/2007 24,293 20,742 5/31/2007 25,124 21,203 6/30/2007 24,941 21,224 7/31/2007 24,247 20,931 8/31/2007 23,975 20,628 9/30/2007 25,227 21,800 10/31/2007 26,451 22,748 11/30/2007 24,848 21,858 12/31/2007 24,313 21,447 1/31/2008 22,343 19,513 2/29/2008 22,059 19,867 3/31/2008 22,323 19,583 4/30/2008 23,321 20,672 5/31/2008 23,332 20,986 6/30/2008 21,024 19,354 7/31/2008 20,429 18,665 8/31/2008 19,576 17,943 9/30/2008 17,289 15,353 10/31/2008 12,954 12,159 11/30/2008 12,159 11,500 12/31/2008 13,079 12,106 1/31/2009 11,273 10,976 2/28/2009 9,888 9,865 3/31/2009 10,967 10,515 4/30/2009 12,988 11,871 5/31/2009 14,918 13,373 6/30/2009 14,691 13,234 7/31/2009 16,439 14,477 8/31/2009 17,381 15,170 9/30/2009 18,267 15,796 10/31/2009 17,540 15,543 11/30/2009 18,063 15,927 12/31/2009 18,267 16,181 1/31/2010 17,211 15,423 2/28/2010 17,279 15,407 3/31/2010 18,642 16,399 4/30/2010 18,324 16,155 5/31/2010 16,178 14,372 6/30/2010 15,894 14,164 7/31/2010 17,881 15,473 8/31/2010 17,007 15,011 9/30/2010 18,835 16,451 10/31/2010 19,493 17,037 11/30/2010 18,517 16,315 12/31/2010 20,242 17,629 1/31/2011 21,105 18,009 2/28/2011 21,809 18,676 3/31/2011 21,207 18,302 4/30/2011 22,343 19,299 5/31/2011 21,537 18,727 6/30/2011 21,241 18,460 7/31/2011 20,560 18,156 8/31/2011 18,358 16,621 9/30/2011 16,348 14,952 10/31/2011 17,926 16,406 11/30/2011 17,336 15,648 12/31/2011 16,870 15,477 1/31/2012 18,006 16,312 2/29/2012 18,948 17,209 3/31/2012 18,789 17,082 4/30/2012 18,119 16,792 5/31/2012 15,883 14,878 6/30/2012 17,007 15,852 7/31/2012 16,939 16,050 8/31/2012 17,642 16,508 9/30/2012 18,267 17,009 10/31/2012 18,494 17,128 11/30/2012 18,789 17,488 12/31/2012 19,709 18,017 1/31/2013 20,640 18,903 2/28/2013 20,015 18,715 3/31/2013 20,083 18,863 4/30/2013 21,071 19,722 5/31/2013 20,821 19,281 6/30/2013 20,083 18,558 7/31/2013 21,457 19,546 Past performance is not predictive of 8/31/2013 21,309 19,294 future performance. 9/30/2013 22,910 20,657 10/31/2013 23,705 21,350 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE TEN redemption of fund shares. TOTAL RETURN YEAR YEARS YEARS ---------------------------------------------------------- MSCI data copyright MSCI 2013, all 28.18% 12.85% 9.01% rights reserved. -------------------------------------------------------------------------------- 230 THE DFA INVESTMENT TRUST COMPANY PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- THE JAPANESE SMALL COMPANY SERIES VS. MSCI JAPAN SMALL CAP INDEX (NET DIVIDENDS) OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] MSCI Japan Small Cap The Japanese Small Company Series Index (net dividends) --------------------------------- --------------------- 10/31/2003 $10,000 $10,000 11/30/2003 9,376 9,313 12/31/2003 9,933 9,979 1/31/2004 10,422 10,342 2/29/2004 10,489 10,315 3/31/2004 12,631 12,206 4/30/2004 12,209 11,818 5/31/2004 11,619 11,231 6/30/2004 12,749 12,412 7/31/2004 11,939 11,395 8/31/2004 12,125 11,514 9/30/2004 11,838 11,167 10/31/2004 12,074 11,373 11/30/2004 12,445 11,868 12/31/2004 13,052 12,443 1/31/2005 13,592 12,866 2/28/2005 14,098 13,112 3/31/2005 14,182 13,081 4/30/2005 13,794 12,975 5/31/2005 13,558 12,736 6/30/2005 13,811 12,908 7/31/2005 14,098 13,274 8/31/2005 14,890 13,729 9/30/2005 15,497 14,587 10/31/2005 15,987 14,879 11/30/2005 16,307 15,515 12/31/2005 18,145 17,613 1/31/2006 18,921 18,174 2/28/2006 17,791 16,991 3/31/2006 18,583 17,753 4/30/2006 18,954 17,841 5/31/2006 17,622 16,410 6/30/2006 16,948 15,896 7/31/2006 16,138 14,845 8/31/2006 16,408 15,240 9/30/2006 16,155 14,906 10/31/2006 16,037 14,811 11/30/2006 15,936 14,686 12/31/2006 16,071 14,772 1/31/2007 16,408 15,059 2/28/2007 17,066 15,653 3/31/2007 16,948 15,509 4/30/2007 16,712 15,243 5/31/2007 16,374 14,880 6/30/2007 16,644 14,978 7/31/2007 16,745 14,974 8/31/2007 16,037 14,062 9/30/2007 16,020 13,976 10/31/2007 16,121 14,482 11/30/2007 15,750 13,873 12/31/2007 14,772 13,043 1/31/2008 14,351 12,402 2/29/2008 14,250 12,538 3/31/2008 14,536 12,542 4/30/2008 14,637 12,698 5/31/2008 15,177 13,089 6/30/2008 14,469 12,286 7/31/2008 14,064 11,883 8/31/2008 13,288 11,358 9/30/2008 12,428 10,249 10/31/2008 11,518 9,167 11/30/2008 11,821 9,542 12/31/2008 13,035 10,285 1/31/2009 12,142 9,746 2/28/2009 10,573 8,465 3/31/2009 11,046 8,763 4/30/2009 11,501 9,212 5/31/2009 12,917 10,339 6/30/2009 13,777 10,997 7/31/2009 14,064 11,272 8/31/2009 14,806 11,904 9/30/2009 14,654 11,857 10/31/2009 14,132 11,423 11/30/2009 13,558 11,014 12/31/2009 13,508 10,809 1/31/2010 13,693 11,042 2/28/2010 13,963 11,252 3/31/2010 14,671 11,764 4/30/2010 15,110 12,082 5/31/2010 13,845 11,244 6/30/2010 14,064 11,294 7/31/2010 14,317 11,431 8/31/2010 13,929 11,189 9/30/2010 14,536 11,646 10/31/2010 14,233 11,550 11/30/2010 14,587 11,775 12/31/2010 15,936 12,964 1/31/2011 16,307 13,118 2/28/2011 17,066 13,645 3/31/2011 16,003 12,803 4/30/2011 15,919 12,815 5/31/2011 15,649 12,625 6/30/2011 16,442 13,095 7/31/2011 17,049 13,639 8/31/2011 16,594 13,081 9/30/2011 16,509 13,093 10/31/2011 15,666 12,610 11/30/2011 15,919 12,269 12/31/2011 15,835 12,460 1/31/2012 16,847 12,971 2/29/2012 16,863 13,112 3/31/2012 17,352 13,462 4/30/2012 16,998 13,267 5/31/2012 15,582 12,166 6/30/2012 16,408 12,685 7/31/2012 15,852 12,486 8/31/2012 15,868 12,415 9/30/2012 16,088 12,758 10/31/2012 15,750 12,482 11/30/2012 15,987 12,568 12/31/2012 16,577 12,960 1/31/2013 17,099 13,445 2/28/2013 17,521 13,900 3/31/2013 18,870 15,023 4/30/2013 19,865 16,011 5/31/2013 18,246 14,743 6/30/2013 18,415 14,702 7/31/2013 18,853 14,942 Past performance is not predictive of 8/31/2013 18,432 14,740 future performance. 9/30/2013 20,523 16,418 10/31/2013 20,573 16,351 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE TEN redemption of fund shares. TOTAL RETURN YEAR YEARS YEARS ------------------------------------------------------------ MSCI data copyright MSCI 2013, all 30.62% 12.30% 7.48% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- THE ASIA PACIFIC SMALL COMPANY SERIES VS. MSCI PACIFIC EX JAPAN SMALL CAP INDEX (NET DIVIDENDS) OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] The Asia Pacific Small MSCI Pacific ex Japan Small Company Series Cap Index (net dividends) ---------------------- --------------------------- 10/31/2003 $10,000 $10,000 11/30/2003 10,076 9,956 12/31/2003 10,525 10,608 1/31/2004 11,185 11,042 2/29/2004 11,533 11,376 3/31/2004 11,169 11,398 4/30/2004 10,356 10,754 5/31/2004 10,279 10,705 6/30/2004 10,322 10,718 7/31/2004 10,508 11,122 8/31/2004 10,762 11,489 9/30/2004 11,423 12,174 10/31/2004 11,964 12,954 11/30/2004 12,837 13,951 12/31/2004 13,133 14,540 1/31/2005 13,429 14,667 2/28/2005 13,819 15,134 3/31/2005 13,353 14,704 4/30/2005 12,904 14,465 5/31/2005 12,616 14,651 6/30/2005 13,184 15,452 7/31/2005 13,633 16,095 8/31/2005 13,988 16,082 9/30/2005 14,505 16,893 10/31/2005 13,692 15,901 11/30/2005 14,030 16,504 12/31/2005 14,251 16,828 1/31/2006 15,216 17,791 2/28/2006 15,436 17,969 3/31/2006 16,224 18,730 4/30/2006 17,155 19,938 5/31/2006 16,181 18,920 6/30/2006 16,080 18,690 7/31/2006 16,393 18,882 8/31/2006 16,799 19,498 9/30/2006 16,977 19,820 10/31/2006 18,374 21,202 11/30/2006 19,399 22,491 12/31/2006 19,958 23,330 1/31/2007 20,474 23,923 2/28/2007 21,025 24,379 3/31/2007 22,125 25,637 4/30/2007 23,675 27,414 5/31/2007 25,707 28,491 6/30/2007 26,765 29,231 7/31/2007 27,189 29,224 8/31/2007 25,165 27,343 9/30/2007 28,112 29,769 10/31/2007 30,576 31,804 11/30/2007 28,561 29,249 12/31/2007 28,078 28,847 1/31/2008 25,258 24,981 2/29/2008 26,037 26,465 3/31/2008 24,776 24,796 4/30/2008 26,511 26,455 5/31/2008 27,671 26,740 6/30/2008 24,953 23,749 7/31/2008 23,489 22,656 8/31/2008 21,846 20,816 9/30/2008 18,095 16,752 10/31/2008 12,083 10,835 11/30/2008 10,923 9,653 12/31/2008 12,117 10,774 1/31/2009 10,627 9,588 2/28/2009 10,042 8,993 3/31/2009 11,600 10,281 4/30/2009 13,336 12,122 5/31/2009 16,782 15,028 6/30/2009 16,918 15,451 7/31/2009 19,365 17,683 8/31/2009 20,246 18,591 9/30/2009 21,829 20,149 10/31/2009 22,320 20,632 11/30/2009 23,362 21,225 12/31/2009 23,980 22,073 1/31/2010 22,684 20,661 2/28/2010 23,091 20,920 3/31/2010 24,996 22,645 4/30/2010 25,343 23,278 5/31/2010 21,837 19,763 6/30/2010 21,575 19,650 7/31/2010 23,971 21,650 8/31/2010 23,946 21,602 9/30/2010 27,578 24,845 10/31/2010 28,772 25,948 11/30/2010 28,391 25,601 12/31/2010 31,177 28,185 1/31/2011 30,517 27,365 2/28/2011 30,711 27,515 3/31/2011 31,363 28,360 4/30/2011 32,701 29,507 5/31/2011 31,736 28,831 6/30/2011 30,669 27,806 7/31/2011 31,177 28,216 8/31/2011 29,009 26,254 9/30/2011 23,599 21,480 10/31/2011 27,290 25,000 11/30/2011 26,562 23,295 12/31/2011 25,013 22,548 1/31/2012 27,604 24,889 2/29/2012 29,687 26,824 3/31/2012 29,263 25,984 4/30/2012 29,145 26,125 5/31/2012 25,512 22,734 6/30/2012 26,054 23,052 7/31/2012 26,444 23,810 8/31/2012 27,333 24,191 9/30/2012 28,688 25,477 10/31/2012 29,331 26,003 11/30/2012 29,754 26,259 12/31/2012 31,152 26,918 1/31/2013 32,718 28,345 2/28/2013 32,862 28,681 3/31/2013 33,006 28,754 4/30/2013 32,464 28,526 5/31/2013 30,059 26,426 6/30/2013 27,934 24,166 7/31/2013 29,314 25,132 Past performance is not predictive of 8/31/2013 29,551 25,350 future performance. 9/30/2013 31,626 27,300 10/31/2013 32,549 27,778 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE TEN redemption of fund shares. TOTAL RETURN YEAR YEARS YEARS --------------------------------------------------------- MSCI data copyright MSCI 2013, all 10.97% 21.92% 12.53% rights reserved. -------------------------------------------------------------------------------- 231 THE DFA INVESTMENT TRUST COMPANY PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- THE UNITED KINGDOM SMALL COMPANY SERIES VS. MSCI UK SMALL CAP INDEX (NET DIVIDENDS) OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] The United Kingdom Small MSCI UK Small Cap Company Series Index (net dividends) ------------------------ --------------------- 10/31/2003 $10,000 $10,000 11/30/2003 10,051 10,083 12/31/2003 10,613 10,649 1/31/2004 11,401 11,551 2/29/2004 12,065 12,334 3/31/2004 11,900 12,287 4/30/2004 11,475 11,859 5/31/2004 11,492 11,852 6/30/2004 11,883 12,264 7/31/2004 11,446 11,709 8/31/2004 11,367 11,548 9/30/2004 11,690 11,928 10/31/2004 12,059 12,382 11/30/2004 13,035 13,383 12/31/2004 13,573 14,155 1/31/2005 13,959 14,473 2/28/2005 14,436 14,815 3/31/2005 14,112 14,630 4/30/2005 13,636 13,969 5/31/2005 13,369 13,845 6/30/2005 13,625 14,058 7/31/2005 13,891 14,476 8/31/2005 14,674 15,176 9/30/2005 14,509 15,203 10/31/2005 14,101 14,740 11/30/2005 14,714 15,475 12/31/2005 15,360 16,144 1/31/2006 16,563 17,459 2/28/2006 16,790 17,732 3/31/2006 17,067 18,091 4/30/2006 17,930 19,049 5/31/2006 17,567 18,626 6/30/2006 17,561 18,468 7/31/2006 17,686 18,324 8/31/2006 18,429 18,983 9/30/2006 18,968 19,540 10/31/2006 20,045 20,659 11/30/2006 21,305 21,998 12/31/2006 22,467 23,030 1/31/2007 22,626 22,976 2/28/2007 22,621 23,048 3/31/2007 23,687 24,001 4/30/2007 24,504 25,193 5/31/2007 24,833 25,355 6/30/2007 23,925 24,617 7/31/2007 23,800 24,478 8/31/2007 23,664 23,581 9/30/2007 22,847 22,245 10/31/2007 24,674 24,689 11/30/2007 21,821 21,832 12/31/2007 20,669 20,736 1/31/2008 19,280 19,068 2/29/2008 19,563 19,714 3/31/2008 19,490 19,466 4/30/2008 19,818 19,828 5/31/2008 19,875 19,922 6/30/2008 18,293 18,560 7/31/2008 17,652 17,819 8/31/2008 17,368 17,353 9/30/2008 14,685 14,162 10/31/2008 10,743 10,232 11/30/2008 9,983 9,283 12/31/2008 9,762 9,048 1/31/2009 9,524 8,998 2/28/2009 9,132 8,700 3/31/2009 9,529 9,205 4/30/2009 11,526 11,319 5/31/2009 12,706 12,515 6/30/2009 12,768 12,603 7/31/2009 13,874 13,763 8/31/2009 14,957 15,090 9/30/2009 15,394 15,438 10/31/2009 15,417 15,460 11/30/2009 15,372 15,299 12/31/2009 15,695 15,677 1/31/2010 15,542 15,604 2/28/2010 15,009 14,905 3/31/2010 16,268 16,219 4/30/2010 16,869 16,866 5/31/2010 14,963 14,839 6/30/2010 15,247 14,903 7/31/2010 17,306 16,696 8/31/2010 16,670 16,242 9/30/2010 18,452 18,032 10/31/2010 19,416 18,801 11/30/2010 18,463 18,018 12/31/2010 20,352 19,903 1/31/2011 20,647 20,095 2/28/2011 21,271 20,625 3/31/2011 20,879 20,269 4/30/2011 22,728 22,127 5/31/2011 22,592 21,847 6/30/2011 21,872 21,111 7/31/2011 21,730 21,053 8/31/2011 19,563 18,905 9/30/2011 17,589 16,912 10/31/2011 19,455 18,760 11/30/2011 18,866 18,032 12/31/2011 18,281 17,430 1/31/2012 19,898 19,198 2/29/2012 21,520 20,981 3/31/2012 21,991 21,050 4/30/2012 22,371 21,408 5/31/2012 19,853 18,756 6/30/2012 20,828 19,649 7/31/2012 21,180 20,007 8/31/2012 22,343 21,066 9/30/2012 23,494 22,190 10/31/2012 24,010 22,649 11/30/2012 24,163 22,657 12/31/2012 25,496 23,700 1/31/2013 25,950 24,323 2/28/2013 26,188 24,460 3/31/2013 26,971 25,119 4/30/2013 27,657 25,747 5/31/2013 27,918 26,095 6/30/2013 27,306 25,154 7/31/2013 29,620 27,249 Past performance is not predictive of 8/31/2013 29,836 27,622 future performance. 9/30/2013 31,855 29,695 10/31/2013 32,995 30,741 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE TEN redemption of fund shares. TOTAL RETURN YEAR YEARS YEARS ------------------------------------------------------- MSCI data copyright MSCI 2013, all 37.42% 25.16% 12.68% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- THE CONTINENTAL SMALL COMPANY SERIES VS. MSCI EUROPE EX UK SMALL CAP INDEX (NET DIVIDENDS) OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] The Continental Small MSCI Europe ex UK Small Company Series Cap Index (net dividends) --------------------- ------------------------- 10/31/2003 $10,000 $10,000 11/30/2003 10,524 10,532 12/31/2003 11,180 11,083 1/31/2004 11,720 11,641 2/29/2004 12,113 12,033 3/31/2004 11,867 11,618 4/30/2004 11,725 11,435 5/31/2004 11,856 11,471 6/30/2004 12,213 11,881 7/31/2004 11,820 11,403 8/31/2004 11,893 11,439 9/30/2004 12,512 12,077 10/31/2004 12,984 12,589 11/30/2004 14,373 13,986 12/31/2004 15,118 14,686 1/31/2005 15,333 14,850 2/28/2005 16,319 15,891 3/31/2005 15,873 15,485 4/30/2005 15,454 15,029 5/31/2005 15,496 15,243 6/30/2005 15,915 15,731 7/31/2005 16,906 16,810 8/31/2005 17,478 17,288 9/30/2005 17,923 17,878 10/31/2005 17,037 16,644 11/30/2005 17,100 16,856 12/31/2005 17,986 17,833 1/31/2006 19,712 19,823 2/28/2006 20,283 20,383 3/31/2006 21,594 21,700 4/30/2006 23,083 23,237 5/31/2006 21,977 22,043 6/30/2006 21,568 21,541 7/31/2006 21,521 21,305 8/31/2006 22,092 21,806 9/30/2006 22,391 22,035 10/31/2006 23,519 23,213 11/30/2006 25,155 24,837 12/31/2006 26,356 26,009 1/31/2007 27,577 26,842 2/28/2007 27,625 26,957 3/31/2007 29,240 28,390 4/30/2007 30,781 30,108 5/31/2007 31,379 30,633 6/30/2007 31,038 30,340 7/31/2007 30,870 30,118 8/31/2007 29,775 28,755 9/30/2007 30,440 29,327 10/31/2007 31,909 31,082 11/30/2007 29,554 28,858 12/31/2007 28,988 28,274 1/31/2008 26,230 24,869 2/29/2008 27,357 26,374 3/31/2008 28,228 26,910 4/30/2008 28,568 27,370 5/31/2008 29,119 27,796 6/30/2008 26,665 25,227 7/31/2008 25,254 23,795 8/31/2008 24,567 23,145 9/30/2008 20,294 18,353 10/31/2008 14,877 13,189 11/30/2008 13,718 12,096 12/31/2008 15,149 13,213 1/31/2009 13,429 12,027 2/28/2009 12,271 10,968 3/31/2009 13,162 11,816 4/30/2009 15,317 14,275 5/31/2009 17,535 16,407 6/30/2009 17,320 16,196 7/31/2009 18,700 17,650 8/31/2009 20,267 19,462 9/30/2009 22,003 21,327 10/31/2009 21,390 20,745 11/30/2009 22,040 21,171 12/31/2009 21,972 21,267 1/31/2010 21,610 20,983 2/28/2010 21,154 20,386 3/31/2010 22,727 22,039 4/30/2010 22,512 21,900 5/31/2010 19,313 18,512 6/30/2010 19,192 18,236 7/31/2010 21,489 20,420 8/31/2010 20,509 19,450 9/30/2010 23,330 22,451 10/31/2010 24,678 23,891 11/30/2010 22,764 22,081 12/31/2010 25,716 25,173 1/31/2011 26,450 25,742 2/28/2011 26,906 26,179 3/31/2011 27,813 27,062 4/30/2011 29,696 28,952 5/31/2011 28,694 27,848 6/30/2011 27,771 26,949 7/31/2011 26,203 25,313 8/31/2011 23,513 22,669 9/30/2011 19,974 19,263 10/31/2011 22,024 21,374 11/30/2011 20,572 19,704 12/31/2011 19,764 19,034 1/31/2012 21,647 20,922 2/29/2012 23,036 22,528 3/31/2012 23,078 22,345 4/30/2012 22,543 21,973 5/31/2012 19,465 18,960 6/30/2012 20,320 19,894 7/31/2012 20,115 19,823 8/31/2012 21,033 20,687 9/30/2012 22,145 21,801 10/31/2012 22,528 22,177 11/30/2012 22,832 22,516 12/31/2012 24,211 23,731 1/31/2013 26,046 25,663 2/28/2013 25,789 25,584 3/31/2013 25,212 24,927 4/30/2013 26,251 25,895 5/31/2013 26,738 26,483 6/30/2013 25,857 25,304 7/31/2013 28,112 27,605 Past performance is not predictive of 8/31/2013 28,149 27,554 future performance. 9/30/2013 30,614 29,910 10/31/2013 32,365 31,711 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE TEN redemption of fund shares. TOTAL RETURN YEAR YEARS YEARS ----------------------------------------------------- MSCI data copyright MSCI 2013, all 43.67% 16.82% 12.46% rights reserved. -------------------------------------------------------------------------------- 232 THE DFA INVESTMENT TRUST COMPANY PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- THE CANADIAN SMALL COMPANY SERIES VS. MSCI CANADA SMALL CAP INDEX (NET DIVIDENDS) APRIL 2, 2007-OCTOBER 31, 2013 [CHART] The Canadian Small MSCI Canada Small Company Series Cap Index (net dividends) ----------------------- -------------------------- 4/2/2007 $10,000 $10,000 4/30/2007 10,710 10,487 5/31/2007 11,420 11,331 6/30/2007 11,370 11,306 7/31/2007 11,300 11,024 8/31/2007 10,560 10,340 9/30/2007 11,730 11,600 10/31/2007 13,000 12,852 11/30/2007 11,020 10,809 12/31/2007 11,430 11,109 1/31/2008 10,350 10,107 2/29/2008 11,160 11,071 3/31/2008 10,290 10,199 4/30/2008 10,540 10,555 5/31/2008 11,140 11,104 6/30/2008 10,620 10,725 7/31/2008 9,710 9,775 8/31/2008 9,310 9,530 9/30/2008 7,190 7,506 10/31/2008 4,800 5,011 11/30/2008 4,180 4,560 12/31/2008 4,500 4,785 1/31/2009 4,530 4,833 2/28/2009 4,120 4,454 3/31/2009 4,380 4,708 4/30/2009 5,300 5,466 5/31/2009 6,340 6,622 6/30/2009 5,950 6,220 7/31/2009 6,700 6,996 8/31/2009 6,920 7,260 9/30/2009 7,910 8,157 10/31/2009 7,760 8,211 11/30/2009 8,420 8,900 12/31/2009 8,960 9,423 1/31/2010 8,540 9,031 2/28/2010 9,050 9,632 3/31/2010 9,770 10,454 4/30/2010 10,120 10,890 5/31/2010 9,150 9,929 6/30/2010 8,730 9,464 7/31/2010 9,440 10,234 8/31/2010 9,330 10,202 9/30/2010 10,430 11,319 10/31/2010 11,110 12,004 11/30/2010 11,650 12,509 12/31/2010 12,840 13,660 1/31/2011 12,780 13,500 2/28/2011 13,660 14,392 3/31/2011 13,680 14,396 4/30/2011 13,940 14,833 5/31/2011 13,360 14,236 6/30/2011 12,620 13,510 7/31/2011 12,810 13,868 8/31/2011 11,840 13,043 9/30/2011 9,600 10,655 10/31/2011 11,140 12,174 11/30/2011 10,750 11,857 12/31/2011 10,580 11,613 1/31/2012 11,490 12,564 2/29/2012 11,930 13,014 3/31/2012 11,400 12,326 4/30/2012 11,140 12,227 5/31/2012 9,840 10,801 6/30/2012 9,860 10,768 7/31/2012 10,130 11,140 8/31/2012 10,560 11,603 9/30/2012 11,010 12,189 10/31/2012 10,860 11,971 11/30/2012 10,680 11,703 12/31/2012 10,930 11,894 1/31/2013 11,250 12,137 2/28/2013 10,700 11,549 3/31/2013 11,010 11,822 4/30/2013 10,650 11,555 5/31/2013 10,480 11,271 6/30/2013 10,050 10,576 7/31/2013 10,790 11,389 Past performance is not predictive of 8/31/2013 10,690 11,262 future performance. 9/30/2013 11,170 11,696 10/31/2013 11,480 11,959 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE FROM redemption of fund shares. TOTAL RETURN YEAR YEARS 04/02/2007 ------------------------------------------------------------ MSCI data copyright MSCI 2013, all 5.71% 19.05% 2.12% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- THE EMERGING MARKETS SERIES VS. MSCI EMERGING MARKETS INDEX (NET DIVIDENDS) OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] The Emerging Markets Series MSCI Emerging Markets Index (net dividends) ----------------------------- --------------------------- 10/31/2003 $10,000 $10,000 11/30/2003 9,905 10,122 12/31/2003 10,948 10,855 1/31/2004 11,159 11,234 2/29/2004 11,655 11,749 3/31/2004 11,735 11,896 4/30/2004 10,991 10,922 5/31/2004 10,867 10,704 6/30/2004 11,064 10,749 7/31/2004 11,057 10,552 8/31/2004 11,363 10,990 9/30/2004 12,004 11,624 10/31/2004 12,340 11,902 11/30/2004 13,418 13,004 12/31/2004 14,293 13,628 1/31/2005 14,410 13,663 2/28/2005 15,481 14,855 3/31/2005 14,424 13,873 4/30/2005 14,082 13,501 5/31/2005 14,504 13,971 6/30/2005 14,942 14,445 7/31/2005 15,904 15,455 8/31/2005 16,006 15,587 9/30/2005 17,281 17,039 10/31/2005 16,421 15,925 11/30/2005 17,609 17,243 12/31/2005 18,630 18,262 1/31/2006 20,415 20,301 2/28/2006 20,357 20,277 3/31/2006 20,634 20,456 4/30/2006 21,873 21,913 5/31/2006 19,351 19,617 6/30/2006 19,329 19,569 7/31/2006 19,687 19,849 8/31/2006 20,306 20,355 9/30/2006 20,590 20,524 10/31/2006 21,822 21,499 11/30/2006 23,222 23,097 12/31/2006 24,162 24,137 1/31/2007 24,519 23,877 2/28/2007 24,147 23,735 3/31/2007 25,248 24,680 4/30/2007 26,866 25,823 5/31/2007 28,666 27,102 6/30/2007 29,140 28,372 7/31/2007 29,847 29,869 8/31/2007 29,337 29,235 9/30/2007 31,924 32,463 10/31/2007 35,430 36,084 11/30/2007 33,120 33,526 12/31/2007 33,003 33,643 1/31/2008 30,131 29,445 2/29/2008 31,093 31,618 3/31/2008 30,131 29,945 4/30/2008 32,289 32,375 5/31/2008 32,478 32,976 6/30/2008 29,147 29,687 7/31/2008 28,768 28,567 8/31/2008 27,063 26,285 9/30/2008 23,302 21,685 10/31/2008 17,165 15,750 11/30/2008 15,612 14,565 12/31/2008 16,837 15,701 1/31/2009 15,547 14,687 2/28/2009 14,541 13,858 3/31/2009 16,640 15,850 4/30/2009 19,111 18,487 5/31/2009 22,369 21,646 6/30/2009 22,179 21,355 7/31/2009 24,723 23,756 8/31/2009 24,810 23,671 9/30/2009 27,004 25,820 10/31/2009 26,443 25,852 11/30/2009 28,025 26,962 12/31/2009 29,038 28,027 1/31/2010 27,456 26,464 2/28/2010 27,792 26,557 3/31/2010 30,124 28,701 4/30/2010 30,306 29,049 5/31/2010 27,493 26,494 6/30/2010 27,536 26,299 7/31/2010 29,964 28,489 8/31/2010 29,271 27,936 9/30/2010 32,602 31,040 10/31/2010 33,593 31,941 11/30/2010 32,843 31,098 12/31/2010 35,517 33,317 1/31/2011 34,599 32,413 2/28/2011 34,359 32,111 3/31/2011 36,276 33,999 4/30/2011 37,544 35,054 5/31/2011 36,509 34,134 6/30/2011 36,079 33,609 7/31/2011 35,802 33,460 8/31/2011 32,908 30,470 9/30/2011 27,930 26,027 10/31/2011 31,429 29,475 11/30/2011 30,343 27,511 12/31/2011 29,461 27,179 1/31/2012 32,617 30,262 2/29/2012 34,388 32,074 3/31/2012 33,499 31,004 4/30/2012 32,901 30,633 5/31/2012 29,359 27,198 6/30/2012 30,816 28,248 7/31/2012 31,064 28,799 8/31/2012 31,276 28,703 9/30/2012 33,025 30,435 10/31/2012 32,857 30,250 11/30/2012 33,287 30,634 12/31/2012 35,241 32,132 1/31/2013 35,423 32,575 2/28/2013 35,015 32,166 3/31/2013 34,519 31,612 4/30/2013 34,913 31,850 5/31/2013 33,783 31,033 6/30/2013 31,662 29,057 Past performance is not predictive of 7/31/2013 32,128 29,361 future performance. 8/31/2013 31,378 28,856 9/30/2013 33,615 30,733 The returns shown do not reflect the 10/31/2013 35,153 32,226 deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE TEN redemption of fund shares. TOTAL RETURN YEAR YEARS YEARS ------------------------------------------------------------ MSCI data copyright MSCI 2013, all 6.99% 15.42% 13.40% rights reserved. -------------------------------------------------------------------------------- 233 THE DFA INVESTMENT TRUST COMPANY PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- THE EMERGING MARKETS SMALL CAP SERIES VS. MSCI EMERGING MARKETS INDEX (NET DIVIDENDS) OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] The Emerging Markets MSCI Emerging Small Cap Series Markets Index (net dividends) --------------------- --------------------------------- 10/31/2003 $10,000 $10,000 11/30/2003 10,203 10,122 12/31/2003 11,223 10,855 1/31/2004 11,560 11,234 2/29/2004 12,048 11,749 3/31/2004 12,251 11,896 4/30/2004 11,575 10,922 5/31/2004 11,095 10,704 6/30/2004 11,185 10,749 7/31/2004 11,268 10,552 8/31/2004 11,643 10,990 9/30/2004 12,288 11,624 10/31/2004 12,603 11,902 11/30/2004 13,796 13,004 12/31/2004 14,531 13,628 1/31/2005 14,944 13,663 2/28/2005 15,889 14,855 3/31/2005 14,801 13,873 4/30/2005 14,261 13,501 5/31/2005 14,539 13,971 6/30/2005 14,906 14,445 7/31/2005 15,739 15,455 8/31/2005 15,844 15,587 9/30/2005 16,894 17,039 10/31/2005 16,077 15,925 11/30/2005 17,224 17,243 12/31/2005 18,357 18,262 1/31/2006 20,143 20,301 2/28/2006 20,368 20,277 3/31/2006 20,735 20,456 4/30/2006 22,438 21,913 5/31/2006 20,083 19,617 6/30/2006 19,205 19,569 7/31/2006 19,647 19,849 8/31/2006 20,338 20,355 9/30/2006 20,915 20,524 10/31/2006 22,498 21,499 11/30/2006 24,209 23,097 12/31/2006 25,326 24,137 1/31/2007 25,829 23,877 2/28/2007 26,047 23,735 3/31/2007 27,224 24,680 4/30/2007 29,310 25,823 5/31/2007 31,650 27,102 6/30/2007 32,603 28,372 7/31/2007 34,201 29,869 8/31/2007 32,791 29,235 9/30/2007 35,049 32,463 10/31/2007 37,704 36,084 11/30/2007 34,696 33,526 12/31/2007 35,101 33,643 1/31/2008 30,893 29,445 2/29/2008 31,785 31,618 3/31/2008 30,308 29,945 4/30/2008 32,153 32,375 5/31/2008 31,973 32,976 6/30/2008 28,290 29,687 7/31/2008 27,862 28,567 8/31/2008 26,182 26,285 9/30/2008 21,470 21,685 10/31/2008 14,966 15,750 11/30/2008 14,059 14,565 12/31/2008 16,054 15,701 1/31/2009 14,831 14,687 2/28/2009 13,923 13,858 3/31/2009 15,844 15,850 4/30/2009 19,055 18,487 5/31/2009 23,383 21,646 6/30/2009 23,271 21,355 7/31/2009 26,249 23,756 8/31/2009 26,564 23,671 9/30/2009 28,785 25,820 10/31/2009 28,762 25,852 11/30/2009 30,473 26,962 12/31/2009 32,153 28,027 1/31/2010 30,743 26,464 2/28/2010 31,275 26,557 3/31/2010 33,953 28,701 4/30/2010 34,516 29,049 5/31/2010 31,058 26,494 6/30/2010 31,890 26,299 7/31/2010 34,831 28,489 8/31/2010 35,004 27,936 9/30/2010 39,265 31,040 10/31/2010 40,833 31,941 11/30/2010 39,745 31,098 12/31/2010 42,033 33,317 1/31/2011 40,270 32,413 2/28/2011 39,100 32,111 3/31/2011 41,283 33,999 4/30/2011 43,466 35,054 5/31/2011 42,498 34,134 6/30/2011 42,491 33,609 7/31/2011 42,978 33,460 8/31/2011 38,912 30,470 9/30/2011 32,003 26,027 10/31/2011 35,551 29,475 11/30/2011 33,833 27,511 12/31/2011 32,933 27,179 1/31/2012 36,662 30,262 2/29/2012 39,670 32,074 3/31/2012 38,665 31,004 4/30/2012 37,742 30,633 5/31/2012 34,306 27,198 6/30/2012 35,619 28,248 7/31/2012 35,199 28,799 8/31/2012 36,122 28,703 9/30/2012 38,237 30,435 10/31/2012 38,110 30,250 11/30/2012 38,785 30,634 12/31/2012 41,185 32,132 1/31/2013 41,958 32,575 2/28/2013 42,401 32,166 3/31/2013 42,221 31,612 4/30/2013 43,083 31,850 5/31/2013 42,491 31,033 6/30/2013 38,815 29,057 7/31/2013 39,010 29,361 8/31/2013 37,397 28,856 Past performance is not predictive of 9/30/2013 40,143 30,733 future performance. 10/31/2013 41,695 32,226 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE TEN redemption of fund shares. TOTAL RETURN YEAR YEARS YEARS ------------------------------------------------------------ MSCI data copyright MSCI 2013, all 9.41% 22.74% 15.35% rights reserved. -------------------------------------------------------------------------------- 234 THE DFA INVESTMENT TRUST COMPANY MANAGEMENT'S DISCUSSION AND ANALYSIS U.S. EQUITY MARKET REVIEW 12 MONTHS ENDED OCTOBER 31, 2013 The one-year period ended October 31, 2013, was characterized by strong gains in U.S. equities. The broad U.S. equity market, as measured by the Russell 3000(R) Index, had positive returns in 10 of the 12 months. The size premium was positive during the period with small cap stocks outperforming large cap stocks as measured by the Russell indices. Micro cap stocks were the strongest performers. TOTAL RETURN FOR 12 MONTHS ENDED OCTOBER 31, 2013 ------------------------------------------------- Russell 3000(R) Index........................ 28.99% Russell Microcap(R) Index (micro cap stocks). 38.72% Russell 2000(R) Index (small cap stocks)..... 36.28% Russell 1000(R) Index (large cap stocks)..... 28.40% Dow Jones U.S. Select REIT Index /SM/........ 9.96% The value premium was negative in small cap stocks while the performance of large cap value and large cap growth was almost identical as measured by the Russell indices. TOTAL RETURN FOR 12 MONTHS ENDED OCTOBER 31, 2013 ------------------------------------------------- Russell 2000(R) Value Index (small cap value stocks)... 32.83% Russell 2000(R) Growth Index (small cap growth stocks). 39.84% Russell 1000(R) Value Index (large cap value stocks)... 28.29% Russell 1000(R) Growth Index (large cap growth stocks). 28.30% ---------- Source: Russell data copyright (C) Russell Investment Group 1995-2013, all rights reserved. Dimensional Fund Advisors LP ("Dimensional" or the "Advisor") believes that among the most important factors explaining differences in the behavior of diversified equity portfolios are the market capitalization and value/ growth characteristics of the portfolios' holdings. Value characteristics are a function of stock price relative to one or more fundamental characteristics such as book value, earnings, or dividends. For many Dimensional U.S. equity portfolios, differences in returns over the 12 months ended October 31, 2013, were primarily attributable to differences in value/growth and size characteristics as well as the exclusion of REIT securities from most Dimensional portfolios and the exclusion of securities of highly regulated utilities from most value strategies. For many portfolios, the construction approach used by Dimensional generally resulted in portfolios with greater weight in value, small cap and/or micro cap companies relative to widely used benchmarks. DOMESTIC EQUITY SERIES' PERFORMANCE OVERVIEW THE U.S. LARGE CAP VALUE SERIES The U.S. Large Cap Value Series seeks to capture the returns of U.S. large company value stocks. Value is measured primarily by book-to-market ratio. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Series held approximately 220 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Series' assets. For the 12 months ended October 31, 2013, total returns were 35.68% for the Series and 28.29% for the Russell 1000(R) Value Index. As a result of the Series' diversified investment approach, performance was determined principally by broad structural trends in the U.S. equity market rather than the behavior of a limited number of stocks. The Series had significantly greater exposure than the Index to deeper value stocks, measured by book-to-market ratios. These stocks generally outperformed relative to the Index, and the Series' higher weight contributed to the Series' outperformance relative to the Index. The Series' exclusion of real estate investment trusts ("REITs") and highly regulated utilities also contributed to the Series' outperformance relative to the Index as both sectors underperformed the overall Index during the period. 235 INTERNATIONAL EQUITY MARKET REVIEW 12 MONTHS ENDED OCTOBER 31, 2013 The one-year period ended October 31, 2013, was characterized by generally positive monthly returns in the international equity market with the exception of a sharp decline from May to June and a smaller decline in August. As measured by the MSCI indices below for developed markets outside the U.S., small cap stocks generally outperformed large cap stocks while value stocks outperformed growth stocks. 12 MONTHS ENDED OCTOBER 31, 2013 -------------------------------- U.S. DOLLAR RETURN - ------------------ MSCI World ex USA Index........... 24.65% MSCI World ex USA Small Cap Index. 27.81% MSCI World ex USA Value Index..... 26.12% MSCI World ex USA Growth Index.... 23.17% During the period, the U.S. dollar (USD) was mixed against developed markets currencies. While the U.S. dollar depreciated against the euro, Swiss franc, and several other European-based developed markets currencies, it appreciated against the sterling, Canadian dollar, Australian dollar and Japanese yen. 12 MONTHS ENDED OCTOBER 31, 2013 -------------------------------- TEN LARGEST FOREIGN DEVELOPED MARKETS BY MARKET CAP LOCAL CURRENCY RETURN U.S. DOLLAR RETURN --------------------------------------------------- --------------------- ------------------ United Kingdom.................... 20.70% 20.37% Japan............................. 64.48% 34.00% Canada............................ 10.59% 5.99% France............................ 27.55% 33.82% Australia......................... 26.44% 15.47% Switzerland....................... 27.49% 31.10% Germany........................... 24.72% 30.85% Spain............................. 30.69% 37.11% Sweden............................ 24.39% 27.55% Hong Kong......................... 14.30% 14.25% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2013, all rights reserved. Gains in emerging markets were lower on average than in developed markets although results varied widely among the individual emerging markets countries. For the one-year period ended October 31, 2013, returns in U.S. dollars were 6.53% for the MSCI Emerging Markets Index (net dividends) versus 24.65% for the MSCI World ex USA Index (net dividends). As measured by the MSCI emerging markets indices, small cap stocks outperformed large caps while growth stocks outperformed value stocks. 12 MONTHS ENDED OCTOBER 31, 2013 -------------------------------- U.S. DOLLAR RETURN - ------------------ MSCI Emerging Markets Index........... 6.53% MSCI Emerging Markets Small Cap Index. 10.29% MSCI Emerging Markets Value Index..... 3.88% MSCI Emerging Markets Growth Index.... 9.06% During the period, the U.S. dollar (USD) generally appreciated against most emerging markets currencies, except those in eastern Europe, decreasing USD denominated returns in emerging markets. 236 12 MONTHS ENDED OCTOBER 31, 2013 -------------------------------- TEN LARGEST EMERGING MARKETS BY MARKET CAP LOCAL CURRENCY RETURN U.S. DOLLAR RETURN ------------------------------------------ --------------------- ------------------ China........................ 9.32% 9.28% South Korea.................. 9.57% 12.65% Brazil....................... 7.85% -1.52% Taiwan....................... 18.76% 18.08% South Africa................. 20.85% 5.07% India........................ 14.98% 0.65% Russia....................... 12.94% 10.89% Mexico....................... 1.41% 2.11% Malaysia..................... 13.25% 9.32% Indonesia.................... 1.33% -13.66% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2013, all rights reserved. INTERNATIONAL EQUITY SERIES' PERFORMANCE OVERVIEW THE DFA INTERNATIONAL VALUE SERIES The DFA International Value Series seeks to capture the returns of international large company value stocks. Value stocks are typically characterized by low relative price, as measured by their book-to-market ratio. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Series held approximately 520 securities in 22 eligible developed countries. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Series' assets. For the 12 months ending October 31, 2013, total returns were 28.18% for the Series and 24.65% for the MSCI World ex USA Index (net dividends). The Series focuses on value stocks, as measured by book-to-market, while the Index is neutral with regard to value or growth. As large cap value stocks generally outperformed large cap growth stocks during the period, the Series' significantly greater exposure than the Index to these securities contributed to the Series' outperformance relative to the Index. In particular, the Series' greater exposure to value stocks in the financial sector was beneficial as these names outperformed. The Series' exclusion of real estate investment trusts ("REITs") also benefited the Series' relative performance as REITs underperformed during the period. Differences in the valuation timing and methodology between the Series and the Index generally detracted from relative performance. The Series prices foreign exchange rates at the closing of the U.S. markets while the Index uses rates at 4 pm London time. The Series also may use fair value pricing to price certain portfolio securities at the closing of the U.S. markets while the Index uses local market closing prices. THE JAPANESE SMALL COMPANY SERIES The Japanese Small Company Series seeks to capture the returns of Japanese small company stocks. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Series held approximately 1,400 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Series' assets. For the 12 months ended October 31, 2013, total returns were 30.62% for the Series and 30.99% for the MSCI Japan Small Cap Index (net dividends). The Series' lesser exposure than the Index to GungHo Online Entertainment, Inc., an online gaming company that significantly outperformed, was primarily responsible for the Series' relative underperformance. To a lesser extent, the Series' exclusion of real estate investment trusts ("REITs") contributed positively to the Series' relative performance as REITs underperformed during the period. THE ASIA PACIFIC SMALL COMPANY SERIES The Asia Pacific Small Company Series seeks to capture the returns of small company stocks in Australia, Hong Kong, New Zealand, and Singapore. The investment strategy is process driven, emphasizing broad 237 diversification. As of October 31, 2013, the Series held approximately 940 securities across the eligible countries. Country allocations generally reflect the approximate weights of individual securities within a universe of these countries' stocks constructed by the Advisor. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Series' assets. For the 12 months ended October 31, 2013, total returns were 10.97% for the Series and 6.83% for the MSCI Pacific ex Japan Small Cap Index (net dividends). As a result of the Series' diversified investment approach, performance was determined principally by broad structural trends in Asia Pacific equity markets rather than the behavior of a limited number of stocks. The Series' greater weight in the consumer discretionary sector and lesser weight in the materials sector contributed to the Series' outperformance relative to the Index as consumer discretionary outperformed and materials underperformed. The Series' exclusion of real estate investment trusts ("REITs") also had a small positive impact on the Series' relative performance as REITs underperformed during the period. THE UNITED KINGDOM SMALL COMPANY SERIES The United Kingdom Small Company Series seeks to capture the returns of U.K. small company stocks. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Series held approximately 350 securities. In general, cash exposure was low throughout the year, with an average cash balance of less than 1% of the Series' assets. For the 12 months ended October 31, 2013, total returns were 37.42% for the Series and 35.72% for the MSCI UK Small Cap Index (net dividends). As a result of the Series' diversified investment approach, performance was determined principally by broad structural trends in the U.K. equity market, rather than the behavior of a limited number of stocks. The Series had a lesser allocation to the energy sector, which contributed to the Series' outperformance relative to the Index as energy significantly underperformed. The Series' exclusion of real estate investment trusts ("REITs") also contributed to the Series' outperformance relative to the Index as REITs underperformed during the period. To a lesser extent, differences in the valuation timing and methodology between the Series and the Index generally detracted from the Series' relative performance. The Series prices foreign exchange rates at the closing of the U.S. markets while the Index uses rates at 4 pm London time. The Series also may use fair value pricing to price certain portfolio securities at the closing of the U.S. markets while the Index uses local market closing prices. THE CONTINENTAL SMALL COMPANY SERIES The Continental Small Company Series seeks to capture the returns of small company stocks in the developed markets of Europe (excluding the U.K.) and Israel, by purchasing shares in such securities. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Series held approximately 1,200 securities in 14 eligible developed continental European countries and Israel. Country allocations generally reflect the approximate weights of individual securities within a universe of continental European and Israeli small company stocks constructed by the Advisor. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Series' assets. For the 12 months ended October 31, 2013, total returns were 43.67% for the Series and 42.99% for the MSCI Europe ex UK Small Cap Index (net dividends). As a result of the Series' diversified investment approach, performance was determined principally by broad structural trends in the continental European (excluding the U.K.) and Israeli equity markets, rather than the behavior of a limited number of stocks. The Series' exclusion of real estate investment trusts ("REITs") contributed to the Series' outperformance relative to the Index, as REITs underperformed during the period. To a lesser extent, differences in the valuation timing and methodology between the Series and the Index generally detracted from the Series' relative performance. The Series prices foreign exchange rates at the closing of the U.S. markets while the Index uses rates at 4 pm London time. The Series also may use fair value pricing to price certain portfolio securities at the closing of the U.S. markets while the Index uses local market closing prices. 238 THE CANADIAN SMALL COMPANY SERIES The Canadian Small Company Series seeks to capture the returns of Canadian small company stocks. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Series held approximately 390 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Series' assets. For the 12 months ended October 31, 2013, total returns were 5.71% for the Series and -0.09% for the MSCI Canada Small Cap Index (net dividends). As a result of the Series' diversified investment approach, performance was determined principally by broad structural trends in the Canadian equity market. The Series' holdings in the materials sector significantly outperformed those of the Index and contributed to the Series' outperformance relative to the Index. The Series' exclusion of real estate investment trusts ("REITs") also contributed to the Series' outperformance relative to the Index as REITs underperformed during the period. THE EMERGING MARKETS SERIES The Emerging Markets Series seeks to capture the returns of large cap stocks in selected emerging markets countries. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Series held approximately 1,000 securities across 21 eligible emerging markets. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Master Fund's assets. For the 12 months ended October 31, 2013, total returns were 6.99% for the Series and 6.53% for the MSCI Emerging Markets Index (net dividends). As a result of the Series' diversified approach, performance was generally determined by structural trends in emerging markets rather than the behavior of a limited number of stocks. Differences in country weights between the Series and the Index contributed to relative performance differences. In addition, differences in holdings within the financial sector contributed to the Series' relative outperformance. THE EMERGING MARKETS SMALL CAP SERIES The Emerging Markets Small Cap Series seeks to capture the returns of small company stocks in selected emerging markets. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Series held approximately 3,100 securities across 17 eligible emerging markets. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Series' assets. For the 12 months ended October 31, 2013, total returns were 9.41% for the Series and 6.53% for the MSCI Emerging Markets Index (net dividends). As a result of the Series' diversified approach, performance was principally determined by structural trends in emerging markets rather than the behavior of a limited number of stocks. The Series focuses on small cap stocks while the Index primarily holds large cap and mid-cap stocks. Emerging markets small cap stocks generally outperformed emerging markets large caps over the period. The Series' significantly greater exposure to small cap stocks was primarily responsible for the Series' outperformance relative to the Index. 239 THE DFA INVESTMENT TRUST COMPANY DISCLOSURE OF FUND EXPENSES (UNAUDITED) The following Expense Tables are shown so that you can understand the impact of fees on your investment. All mutual funds have operating expenses. As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports, among others. Operating expenses, legal and audit services, which are deducted from a fund's gross income, directly reduce the investment return of the fund. A fund's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs, in dollars, of investing in the fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period. The Expense Tables below illustrate your fund's costs in two ways. ACTUAL FUND RETURN This section helps you to estimate the actual expenses after fee waivers that you paid over the period. The "Ending Account Value" shown is derived from the fund's actual return and "Expenses Paid During Period" reflect the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. To do so, simply divide your account value by $1,000 (for example, a $7,500 account value divided by $1,000 = 7.5), then multiply the result by the number given for your fund under the heading "Expenses Paid During Period." HYPOTHETICAL EXAMPLE FOR COMPARISON PURPOSES This section is intended to help you compare your fund's costs with those of other mutual funds. The hypothetical "Ending Account Value" and "Expenses Paid During Period" are derived from the fund's actual expense ratio and an assumed 5% annual return before expenses. In this case, because the return used is not the fund's actual return, the results do not apply to your investment. The example is useful in making comparisons because the SEC requires all mutual funds to calculate expenses based on a 5% annual return. You can assess your fund's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. Please note that the expenses shown in the tables are meant to highlight and help you compare ongoing costs only and do not reflect any transactional costs, if applicable. The "Annualized Expense Ratio" represents the actual expenses for the six-month period indicated. SIX MONTHS ENDED OCTOBER 31, 2013 EXPENSE TABLES BEGINNING ENDING EXPENSES ACCOUNT ACCOUNT ANNUALIZED PAID VALUE VALUE EXPENSE DURING 05/01/13 10/31/13 RATIO* PERIOD* --------- --------- ---------- -------- THE U.S. LARGE CAP VALUE SERIES - Actual Fund Return............ $1,000.00 $1,145.10 0.11% $0.59 Hypothetical 5% Annual Return. $1,000.00 $1,024.65 0.11% $0.56 THE DFA INTERNATIONAL VALUE SERIES - Actual Fund Return............ $1,000.00 $1,125.00 0.22% $1.18 Hypothetical 5% Annual Return. $1,000.00 $1,024.10 0.22% $1.12 240 DISCLOSURE OF FUND EXPENSES CONTINUED BEGINNING ENDING EXPENSES ACCOUNT ACCOUNT ANNUALIZED PAID VALUE VALUE EXPENSE DURING 05/01/13 10/31/13 RATIO* PERIOD* --------- --------- ---------- -------- THE JAPANESE SMALL COMPANY SERIES --------------------------------- Actual Fund Return...................... $1,000.00 $1,035.70 0.13% $0.67 Hypothetical 5% Annual Return........... $1,000.00 $1,024.55 0.13% $0.66 THE ASIA PACIFIC SMALL COMPANY SERIES ------------------------------------- Actual Fund Return...................... $1,000.00 $1,002.60 0.13% $0.66 Hypothetical 5% Annual Return........... $1,000.00 $1,024.55 0.13% $0.66 THE UNITED KINGDOM SMALL COMPANY SERIES --------------------------------------- Actual Fund Return...................... $1,000.00 $1,193.00 0.12% $0.66 Hypothetical 5% Annual Return........... $1,000.00 $1,024.60 0.12% $0.61 THE CONTINENTAL SMALL COMPANY SERIES ------------------------------------ Actual Fund Return...................... $1,000.00 $1,232.90 0.13% $0.73 Hypothetical 5% Annual Return........... $1,000.00 $1,024.55 0.13% $0.66 THE CANADIAN SMALL COMPANY SERIES --------------------------------- Actual Fund Return...................... $1,000.00 $1,077.90 0.11% $0.58 Hypothetical 5% Annual Return........... $1,000.00 $1,024.65 0.11% $0.56 THE EMERGING MARKETS SERIES --------------------------- Actual Fund Return...................... $1,000.00 $1,006.90 0.14% $0.71 Hypothetical 5% Annual Return........... $1,000.00 $1,024.50 0.14% $0.71 THE EMERGING MARKETS SMALL CAP SERIES ------------------------------------- Actual Fund Return...................... $1,000.00 $ 967.80 0.25% $1.24 Hypothetical 5% Annual Return........... $1,000.00 $1,023.95 0.25% $1.28 ---------- * Expenses are equal to the fund's annualized expense ratio for the six-month period, multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period (184), then divided by the number of days in the year (365) to reflect the six-month period. 241 THE DFA INVESTMENT TRUST COMPANY DISCLOSURE OF PORTFOLIO HOLDINGS (UNAUDITED) The SEC requires that all funds file a complete Schedule of Investments with the SEC for their first and third fiscal quarters on Form N-Q. For The DFA Investment Trust Company, this would be for the fiscal quarters ending January 31 and July 31. The Form N-Q filing must be made within 60 days of the end of the quarter. The DFA Investment Trust Company filed its most recent Form N-Q with the SEC on September 27, 2013. It is available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room). SEC regulations permit a fund to include in its reports to shareholders a "Summary Schedule of Portfolio Holdings" in lieu of a full Schedule of Investments. The Summary Schedule of Portfolio Holdings reports the fund's 50 largest holdings in unaffiliated issuers and any investments that exceed one percent of the fund's net assets at the end of the reporting period. The amendments also require that the Summary Schedule of Portfolio Holdings identify each category of investments that are held. A fund is required to file a complete Schedule of Investments with the SEC on Form N-CSR within ten days after mailing the annual and semi-annual reports to shareholders. It will be available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room). PORTFOLIO HOLDINGS The SEC requires that all funds present their categories of portfolio holdings in a table, chart or graph format in their annual and semi-annual shareholder reports, whether or not a Schedule of Investments is utilized. The following table, which presents portfolio holdings as a percent of total investments before short-term investments and collateral for loaned securities, is provided in compliance with such requirement. The categories shown below represent broad industry sectors. Each industry sector consists of one or more specific industry classifications. DOMESTIC AND INTERNATIONAL EQUITY PORTFOLIOS THE U.S. LARGE CAP VALUE SERIES Consumer Discretionary....................... 12.6% Consumer Staples............................. 7.5% Energy....................................... 20.7% Financials................................... 24.9% Health Care.................................. 8.0% Industrials.................................. 12.2% Information Technology....................... 5.9% Materials.................................... 3.3% Telecommunication Services................... 4.6% Utilities.................................... 0.3% ----- 100.0% THE DFA INTERNATIONAL VALUE SERIES Consumer Discretionary....................... 9.4% Consumer Staples............................. 4.9% Energy....................................... 12.7% Financials................................... 36.7% Health Care.................................. 1.3% Industrials.................................. 10.4% Information Technology....................... 3.7% Materials.................................... 10.9% Other........................................ -- Telecommunication Services................... 7.1% Utilities.................................... 2.9% ----- 100.0% THE JAPANESE SMALL COMPANY SERIES Consumer Discretionary....................... 21.4% Consumer Staples............................. 9.3% Energy....................................... 0.9% Financials................................... 11.0% Health Care.................................. 4.7% Industrials.................................. 29.9% Information Technology....................... 10.4% Materials.................................... 11.9% Telecommunication Services................... -- Utilities.................................... 0.5% ----- 100.0% 242 DISCLOSURE OF PORTFOLIO HOLDINGS CONTINUED THE ASIA PACIFIC SMALL COMPANY SERIES Consumer Discretionary....................... 29.3% Consumer Staples............................. 4.2% Energy....................................... 6.4% Financials................................... 13.5% Health Care.................................. 5.0% Industrials.................................. 20.2% Information Technology....................... 4.8% Materials.................................... 10.7% Other........................................ -- Telecommunication Services................... 3.5% Utilities.................................... 2.4% ----- 100.0% THE UNITED KINGDOM SMALL COMPANY SERIES Consumer Discretionary....................... 26.9% Consumer Staples............................. 3.8% Energy....................................... 5.4% Financials................................... 14.4% Health Care.................................. 2.6% Industrials.................................. 26.7% Information Technology....................... 7.8% Materials.................................... 7.6% Telecommunication Services................... 2.4% Utilities.................................... 2.4% ----- 100.0% THE CONTINENTAL SMALL COMPANY SERIES Consumer Discretionary....................... 14.9% Consumer Staples............................. 5.7% Energy....................................... 4.4% Financials................................... 18.6% Health Care.................................. 9.2% Industrials.................................. 24.4% Information Technology....................... 10.0% Materials.................................... 8.0% Other........................................ -- Telecommunication Services................... 2.5% Utilities.................................... 2.3% ----- 100.0% THE CANADIAN SMALL COMPANY SERIES Consumer Discretionary....................... 10.2% Consumer Staples............................. 4.3% Energy....................................... 26.9% Financials................................... 8.1% Health Care.................................. 2.0% Industrials.................................. 14.6% Information Technology....................... 5.8% Materials.................................... 22.5% Telecommunication Services................... 0.4% Utilities.................................... 5.2% ----- 100.0% THE EMERGING MARKETS SERIES Consumer Discretionary....................... 9.0% Consumer Staples............................. 8.6% Energy....................................... 12.0% Financials................................... 25.9% Health Care.................................. 1.5% Industrials.................................. 7.3% Information Technology....................... 15.2% Materials.................................... 10.4% Other........................................ -- Telecommunication Services................... 6.9% Utilities.................................... 3.2% ----- 100.0% THE EMERGING MARKETS SMALL CAP SERIES Consumer Discretionary....................... 18.1% Consumer Staples............................. 8.9% Energy....................................... 2.3% Financials................................... 16.5% Health Care.................................. 6.3% Industrials.................................. 17.8% Information Technology....................... 13.1% Materials.................................... 12.6% Other........................................ -- Real Estate Investment Trusts................ 0.1% Telecommunication Services................... 0.7% Utilities.................................... 3.6% ----- 100.0% 243 THE U.S. LARGE CAP VALUE SERIES SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE+ OF NET ASSETS** ------ ------ --------------- COMMON STOCKS -- (95.9%) Consumer Discretionary -- (12.1%) Comcast Corp. Class A................ 10,008,890 $ 476,222,986 3.2% Comcast Corp. Special Class A........ 3,819,364 176,836,553 1.2% * General Motors Co.................... 3,555,515 131,376,279 0.9% Time Warner Cable, Inc............... 1,876,119 225,415,698 1.5% Time Warner, Inc..................... 4,974,348 341,936,681 2.3% Other Securities..................... 515,830,578 3.5% -------------- ----- Total Consumer Discretionary............. 1,867,618,775 12.6% -------------- ----- Consumer Staples -- (7.2%) Archer-Daniels-Midland Co............ 3,189,248 130,440,243 0.9% CVS Caremark Corp.................... 7,147,441 444,999,677 3.0% Mondelez International, Inc. Class A. 9,025,752 303,626,297 2.0% Other Securities..................... 227,833,106 1.5% -------------- ----- Total Consumer Staples................... 1,106,899,323 7.4% -------------- ----- Energy -- (19.9%) Anadarko Petroleum Corp.............. 2,511,077 239,280,527 1.6% Apache Corp.......................... 1,526,796 135,579,485 0.9% Baker Hughes, Inc.................... 1,673,042 97,187,010 0.6% Chevron Corp......................... 4,348,879 521,691,525 3.5% ConocoPhillips....................... 6,993,622 512,632,493 3.4% Devon Energy Corp.................... 1,479,247 93,517,995 0.6% Hess Corp............................ 1,606,476 130,445,851 0.9% Marathon Oil Corp.................... 3,640,872 128,377,147 0.9% Marathon Petroleum Corp.............. 1,791,952 128,411,280 0.9% National Oilwell Varco, Inc.......... 1,816,355 147,451,699 1.0% Occidental Petroleum Corp............ 1,521,584 146,193,791 1.0% Phillips 66.......................... 2,926,797 188,573,531 1.3% Valero Energy Corp................... 2,806,975 115,563,161 0.8% Other Securities..................... 484,245,131 3.3% -------------- ----- Total Energy............................. 3,069,150,626 20.7% -------------- ----- Financials -- (23.9%) American International Group, Inc.... 8,251,823 426,206,658 2.9% Bank of America Corp................. 39,239,978 547,790,093 3.7% Bank of New York Mellon Corp. (The).. 3,633,937 115,559,197 0.8% Capital One Financial Corp........... 1,875,702 128,804,456 0.9% Citigroup, Inc....................... 10,998,186 536,491,513 3.6% CME Group, Inc....................... 1,618,207 120,087,142 0.8% JPMorgan Chase & Co.................. 5,379,341 277,251,235 1.9% Loews Corp........................... 2,050,343 99,052,070 0.7% MetLife, Inc......................... 5,110,004 241,754,289 1.6% Morgan Stanley....................... 7,883,626 226,496,575 1.5% Prudential Financial, Inc............ 2,327,738 189,454,596 1.3% Other Securities..................... 785,679,755 5.2% -------------- ----- Total Financials......................... 3,694,627,579 24.9% -------------- ----- Health Care -- (7.7%) Aetna, Inc........................... 2,027,401 127,118,043 0.9% * Express Scripts Holding Co........... 2,283,090 142,738,787 1.0% Pfizer, Inc.......................... 7,744,869 237,612,581 1.6% Thermo Fisher Scientific, Inc........ 1,932,026 188,913,502 1.3% WellPoint, Inc....................... 1,824,634 154,728,963 1.1% 244 THE U.S. LARGE CAP VALUE SERIES CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** ------ ------ --------------- Health Care -- (Continued) Other Securities................................... $ 330,262,151 2.1% --------------- ------ Total Health Care........................................ 1,181,374,027 8.0% --------------- ------ Industrials -- (11.7%) CSX Corp........................................... 5,687,103 148,205,904 1.0% Eaton Corp. P.L.C.................................. 1,993,999 140,696,569 1.0% FedEx Corp......................................... 759,707 99,521,617 0.7% General Electric Co................................ 17,056,602 445,859,576 3.0% Norfolk Southern Corp.............................. 1,681,939 144,680,393 1.0% Northrop Grumman Corp.............................. 1,364,645 146,712,984 1.0% Union Pacific Corp................................. 1,891,022 286,300,731 1.9% Other Securities................................... 389,576,498 2.5% --------------- ------ Total Industrials........................................ 1,801,554,272 12.1% --------------- ------ Information Technology -- (5.6%) Corning, Inc....................................... 5,599,861 95,701,624 0.7% Hewlett-Packard Co................................. 9,295,748 226,537,379 1.5% * Yahoo!, Inc........................................ 3,936,872 129,641,195 0.9% Other Securities................................... 418,199,608 2.8% --------------- ------ Total Information Technology............................. 870,079,806 5.9% --------------- ------ Materials -- (3.1%) Freeport-McMoRan Copper & Gold, Inc................ 3,340,516 122,797,368 0.8% International Paper Co............................. 2,043,676 91,168,386 0.6% Other Securities................................... 270,895,902 1.9% --------------- ------ Total Materials.......................................... 484,861,656 3.3% --------------- ------ Telecommunication Services -- (4.4%) AT&T, Inc.......................................... 14,518,387 525,565,609 3.5% Other Securities................................... 152,680,539 1.1% --------------- ------ Total Telecommunication Services......................... 678,246,148 4.6% --------------- ------ Utilities -- (0.3%) Other Securities................................... 47,551,285 0.3% --------------- ------ TOTAL COMMON STOCKS...................................... 14,801,963,497 99.8% --------------- ------ TEMPORARY CASH INVESTMENTS -- (0.7%) State Street Institutional Liquid Reserves, 0.073%. 110,063,812 110,063,812 0.7% --------------- ------ SHARES/ FACE AMOUNT ----------- (000) SECURITIES LENDING COLLATERAL -- (3.4%) (S)@ DFA Short Term Investment Fund..................... 45,096,723 521,769,090 3.5% --------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $10,087,346,593)............................... $15,433,796,399 104.0% =============== ====== 245 THE U.S. LARGE CAP VALUE SERIES CONTINUED Summary of the Series' investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ---------------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL --------------- ------------ ------- --------------- Common Stocks Consumer Discretionary...... $ 1,867,618,775 -- -- $ 1,867,618,775 Consumer Staples............ 1,106,899,323 -- -- 1,106,899,323 Energy...................... 3,069,150,626 -- -- 3,069,150,626 Financials.................. 3,694,627,579 -- -- 3,694,627,579 Health Care................. 1,181,374,027 -- -- 1,181,374,027 Industrials................. 1,801,554,272 -- -- 1,801,554,272 Information Technology...... 870,079,806 -- -- 870,079,806 Materials................... 484,861,656 -- -- 484,861,656 Telecommunication Services.. 678,246,148 -- -- 678,246,148 Utilities................... 47,551,285 -- -- 47,551,285 Temporary Cash Investments.... 110,063,812 -- -- 110,063,812 Securities Lending Collateral. -- $521,769,090 -- 521,769,090 --------------- ------------ -- --------------- TOTAL......................... $14,912,027,309 $521,769,090 -- $15,433,796,399 =============== ============ == =============== See accompanying Notes to Financial Statements. 246 THE DFA INTERNATIONAL VALUE SERIES SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- COMMON STOCKS -- (92.1%) AUSTRALIA -- (4.6%) Suncorp Group, Ltd................ 3,736,013 $ 47,108,867 0.5% Wesfarmers, Ltd................... 2,755,622 111,820,231 1.3% Other Securities.................. 279,564,385 3.2% ------------ ----- TOTAL AUSTRALIA....................... 438,493,483 5.0% ------------ ----- AUSTRIA -- (0.2%) Other Securities.................. 16,529,353 0.2% ------------ ----- BELGIUM -- (1.2%) Other Securities.................. 112,978,600 1.3% ------------ ----- CANADA -- (8.8%) # Canadian Natural Resources, Ltd... 1,849,320 58,690,835 0.7% # Magna International, Inc.......... 583,936 49,458,004 0.6% # Manulife Financial Corp........... 4,587,163 81,259,196 0.9% # Sun Life Financial, Inc........... 1,446,869 48,735,471 0.6% Suncor Energy, Inc................ 3,750,370 136,288,802 1.6% # Thomson Reuters Corp.............. 1,557,384 58,522,328 0.7% Other Securities.................. 400,896,217 4.4% ------------ ----- TOTAL CANADA.......................... 833,850,853 9.5% ------------ ----- DENMARK -- (1.5%) Other Securities.................. 137,640,320 1.6% ------------ ----- FINLAND -- (0.9%) Other Securities.................. 82,560,530 0.9% ------------ ----- FRANCE -- (9.7%) AXA SA............................ 4,004,754 99,780,178 1.1% BNP Paribas SA.................... 1,975,744 145,756,834 1.7% Cie de St-Gobain.................. 1,078,023 56,585,484 0.7% GDF Suez.......................... 3,247,971 80,496,939 0.9% Orange............................ 3,875,091 53,267,297 0.6% Societe Generale SA............... 1,823,515 103,009,458 1.2% Vivendi SA........................ 3,686,124 93,331,608 1.1% Other Securities.................. 290,292,116 3.2% ------------ ----- TOTAL FRANCE.......................... 922,519,914 10.5% ------------ ----- GERMANY -- (8.4%) Allianz SE........................ 518,031 86,978,602 1.0% Allianz SE ADR.................... 2,811,910 47,324,445 0.5% Bayerische Motoren Werke AG....... 663,299 75,071,136 0.9% Daimler AG........................ 2,088,586 171,002,503 1.9% Deutsche Bank AG.................. 1,538,807 74,369,159 0.8% # Deutsche Telekom AG Sponsored ADR. 3,074,385 48,544,539 0.6% E.ON SE........................... 3,638,090 66,316,888 0.8% Muenchener Rueckversicherungs AG.. 395,244 82,460,652 0.9% Other Securities.................. 143,842,565 1.6% ------------ ----- TOTAL GERMANY......................... 795,910,489 9.0% ------------ ----- GREECE -- (0.0%) Other Securities.................. 4,734,900 0.1% ------------ ----- 247 THE DFA INTERNATIONAL VALUE SERIES CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- HONG KONG -- (2.1%) Hutchison Whampoa, Ltd.................. 5,818,000 $ 72,458,624 0.8% Other Securities........................ 125,762,689 1.4% -------------- ----- TOTAL HONG KONG............................. 198,221,313 2.2% -------------- ----- IRELAND -- (0.1%) Other Securities........................ 13,557,887 0.1% -------------- ----- ISRAEL -- (0.3%) Other Securities........................ 28,069,013 0.3% -------------- ----- ITALY -- (1.5%) UniCredit SpA........................... 8,189,815 61,477,549 0.7% Other Securities........................ 78,424,839 0.9% -------------- ----- TOTAL ITALY................................. 139,902,388 1.6% -------------- ----- JAPAN -- (17.7%) Mitsubishi Corp......................... 3,482,500 70,454,645 0.8% Mitsubishi UFJ Financial Group, Inc..... 24,653,206 156,998,104 1.8% Mitsui & Co., Ltd....................... 4,220,700 60,296,595 0.7% Nippon Steel & Sumitomo Metal Corp...... 18,537,940 61,185,438 0.7% NTT DOCOMO, Inc......................... 3,091,700 49,049,894 0.6% Other Securities........................ 1,282,749,967 14.5% -------------- ----- TOTAL JAPAN................................. 1,680,734,643 19.1% -------------- ----- NETHERLANDS -- (3.1%) * ING Groep NV............................ 6,479,202 82,335,806 0.9% Other Securities........................ 207,395,423 2.4% -------------- ----- TOTAL NETHERLANDS........................... 289,731,229 3.3% -------------- ----- NEW ZEALAND -- (0.1%) Other Securities........................ 6,293,702 0.1% -------------- ----- NORWAY -- (0.7%) Other Securities........................ 67,730,341 0.8% -------------- ----- PORTUGAL -- (0.1%) Other Securities........................ 6,386,228 0.1% -------------- ----- SINGAPORE -- (1.2%) Other Securities........................ 109,323,500 1.2% -------------- ----- SPAIN -- (2.3%) Banco Santander SA...................... 8,832,930 78,306,244 0.9% Iberdrola SA............................ 7,444,256 46,726,442 0.5% Other Securities........................ 94,892,837 1.1% -------------- ----- TOTAL SPAIN................................. 219,925,523 2.5% -------------- ----- SWEDEN -- (2.8%) Nordea Bank AB.......................... 5,366,449 68,644,974 0.8% Telefonaktiebolaget LM Ericsson Class B. 4,713,081 56,374,169 0.7% Other Securities........................ 138,816,259 1.5% -------------- ----- TOTAL SWEDEN................................ 263,835,402 3.0% -------------- ----- 248 THE DFA INTERNATIONAL VALUE SERIES CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- SWITZERLAND -- (6.9%) Credit Suisse Group AG...................................... 1,928,358 $ 59,987,253 0.7% Holcim, Ltd................................................. 887,877 66,039,798 0.8% Swiss Re AG................................................. 1,117,582 98,104,262 1.1% UBS AG...................................................... 6,496,062 125,640,734 1.4% Zurich Insurance Group AG................................... 269,917 74,584,331 0.9% Other Securities............................................ 232,054,236 2.6% -------------- ------ TOTAL SWITZERLAND................................................. 656,410,614 7.5% -------------- ------ UNITED KINGDOM -- (17.9%) Barclays P.L.C.............................................. 14,540,536 61,178,709 0.7% # Barclays P.L.C. Sponsored ADR............................... 5,739,573 96,482,222 1.1% BP P.L.C. Sponsored ADR..................................... 5,793,659 269,405,143 3.1% Glencore Xstrata P.L.C...................................... 15,896,454 86,511,958 1.0% # HSBC Holdings P.L.C. Sponsored ADR.......................... 1,694,884 93,286,415 1.1% Kingfisher P.L.C............................................ 8,609,963 52,085,475 0.6% * Lloyds Banking Group P.L.C.................................. 82,680,839 102,259,365 1.2% # Royal Dutch Shell P.L.C. ADR................................ 3,323,210 231,029,559 2.6% Vodafone Group P.L.C........................................ 34,976,333 128,109,810 1.5% Vodafone Group P.L.C. Sponsored ADR......................... 3,949,158 145,407,998 1.6% Other Securities............................................ 428,839,157 4.8% -------------- ------ TOTAL UNITED KINGDOM.............................................. 1,694,595,811 19.3% -------------- ------ TOTAL COMMON STOCKS............................................... 8,719,936,036 99.2% -------------- ------ PREFERRED STOCKS -- (0.2%) GERMANY -- (0.2%) Other Securities............................................ 23,753,308 0.3% -------------- ------ RIGHTS/WARRANTS -- (0.0%) HONG KONG -- (0.0%) Other Securities............................................ -- 0.0% -------------- ------ SPAIN -- (0.0%) Other Securities............................................ 1,906,872 0.0% -------------- ------ TOTAL RIGHTS/WARRANTS............................................. 1,906,872 0.0% -------------- ------ SHARES/ FACE AMOUNT VALUE+ ------- ------ - (000) SECURITIES LENDING COLLATERAL -- (7.7%) (S)@ DFA Short Term Investment Fund.............................. 62,748,487 726,000,000 8.2% @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $796,375 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $720,177) to be repurchased at $706,058................................................... $ 706 706,056 0.0% -------------- ------ TOTAL SECURITIES LENDING COLLATERAL............................... 726,706,056 8.2% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $7,742,743,361)......................................... $9,472,302,272 107.7% ============== ====== 249 THE DFA INTERNATIONAL VALUE SERIES CONTINUED Summary of the Series' investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ---------------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL -------------- -------------- ------- -------------- Common Stocks Australia................... $ 1,841,161 $ 436,652,322 -- $ 438,493,483 Austria..................... -- 16,529,353 -- 16,529,353 Belgium..................... 3,382,426 109,596,174 -- 112,978,600 Canada...................... 833,850,853 -- -- 833,850,853 Denmark..................... -- 137,640,320 -- 137,640,320 Finland..................... 1,950,990 80,609,540 -- 82,560,530 France...................... 6,675,118 915,844,796 -- 922,519,914 Germany..................... 120,607,084 675,303,405 -- 795,910,489 Greece...................... -- 4,734,900 -- 4,734,900 Hong Kong................... -- 198,221,313 -- 198,221,313 Ireland..................... 5,268,488 8,289,399 -- 13,557,887 Israel...................... -- 28,069,013 -- 28,069,013 Italy....................... 18,295,120 121,607,268 -- 139,902,388 Japan....................... 67,433,792 1,613,300,851 -- 1,680,734,643 Netherlands................. 16,499,964 273,231,265 -- 289,731,229 New Zealand................. -- 6,293,702 -- 6,293,702 Norway...................... 265,956 67,464,385 -- 67,730,341 Portugal.................... -- 6,386,228 -- 6,386,228 Singapore................... -- 109,323,500 -- 109,323,500 Spain....................... 13,099,036 206,826,487 -- 219,925,523 Sweden...................... 11,416,422 252,418,980 -- 263,835,402 Switzerland................. 90,293,410 566,117,204 -- 656,410,614 United Kingdom.............. 926,568,412 768,027,399 -- 1,694,595,811 Preferred Stocks Germany..................... -- 23,753,308 -- 23,753,308 Rights/Warrants Hong Kong................... -- -- -- -- Spain....................... -- 1,906,872 -- 1,906,872 Securities Lending Collateral. -- 726,706,056 -- 726,706,056 -------------- -------------- -- -------------- TOTAL......................... $2,117,448,232 $7,354,854,040 -- $9,472,302,272 ============== ============== == ============== See accompanying Notes to Financial Statements. 250 THE JAPANESE SMALL COMPANY SERIES SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- COMMON STOCKS -- (88.3%) Consumer Discretionary -- (18.9%) Accordia Golf Co., Ltd...................... 575,900 $ 6,320,624 0.3% Aoyama Trading Co., Ltd..................... 315,900 8,054,712 0.4% #* Arnest One Corp............................. 238,800 6,557,104 0.3% * Haseko Corp................................. 1,339,000 9,924,834 0.4% # Nifco, Inc.................................. 277,500 7,395,022 0.3% Resorttrust, Inc............................ 200,608 7,641,738 0.3% Shimachu Co., Ltd........................... 273,900 6,651,367 0.3% Tokyo Dome Corp............................. 984,200 6,768,438 0.3% Toyo Tire & Rubber Co., Ltd................. 1,080,000 6,310,337 0.3% Other Securities............................ 419,039,070 18.3% ------------ ----- Total Consumer Discretionary.................... 484,663,246 21.2% ------------ ----- Consumer Staples -- (8.2%) Fuji Oil Co. Ltd/Osaka...................... 367,600 6,699,430 0.3% # Nichirei Corp............................... 1,382,000 7,133,447 0.3% # Pigeon Corp................................. 191,600 9,885,257 0.4% Sapporo Holdings, Ltd....................... 1,874,000 8,333,114 0.4% Takara Holdings, Inc........................ 702,500 6,442,135 0.3% UNY Group Holdings Co., Ltd................. 1,183,300 7,466,985 0.3% Other Securities............................ 163,690,997 7.2% ------------ ----- Total Consumer Staples.......................... 209,651,365 9.2% ------------ ----- Energy -- (0.8%) Other Securities............................ 21,136,267 0.9% ------------ ----- Financials -- (9.7%) Daishi Bank, Ltd. (The)..................... 2,006,000 7,003,326 0.3% Juroku Bank, Ltd. (The)..................... 1,985,000 7,771,817 0.3% Musashino Bank, Ltd. (The).................. 196,000 6,876,837 0.3% San-In Godo Bank, Ltd. (The)................ 961,000 6,976,501 0.3% Other Securities............................ 219,964,821 9.7% ------------ ----- Total Financials................................ 248,593,302 10.9% ------------ ----- Health Care -- (4.2%) # Kaken Pharmaceutical Co., Ltd............... 417,000 6,512,147 0.3% Nihon Kohden Corp........................... 180,100 7,417,704 0.3% Rohto Pharmaceutical Co., Ltd............... 475,000 6,893,342 0.3% Ship Healthcare Holdings, Inc............... 185,700 7,620,076 0.3% Other Securities............................ 77,893,145 3.5% ------------ ----- Total Health Care............................... 106,336,414 4.7% ------------ ----- Industrials -- (26.4%) # Daifuku Co., Ltd............................ 505,000 6,493,984 0.3% # DMG Mori Seiki Co., Ltd..................... 551,500 8,946,428 0.4% Fujikura, Ltd............................... 2,042,000 9,317,972 0.4% # Furukawa Electric Co., Ltd.................. 3,973,000 9,208,531 0.4% Glory, Ltd.................................. 305,000 7,563,052 0.3% Hitachi Zosen Corp.......................... 879,499 6,993,194 0.3% Komori Corp................................. 407,800 6,412,688 0.3% Maeda Road Construction Co., Ltd............ 360,000 6,401,143 0.3% # Minebea Co., Ltd............................ 1,975,000 10,933,515 0.5% Mitsui Engineering & Shipbuilding Co., Ltd. 4,170,000 8,185,614 0.4% #* Nippon Sheet Glass Co., Ltd................. 5,424,000 7,034,712 0.3% 251 THE JAPANESE SMALL COMPANY SERIES CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- Industrials -- (Continued) Nishimatsu Construction Co., Ltd................................. 1,855,000 $ 6,548,878 0.3% # Nisshinbo Holdings, Inc.......................................... 834,000 7,366,107 0.3% # OKUMA Corp....................................................... 792,000 6,690,276 0.3% OSG Corp......................................................... 401,700 6,498,156 0.3% # Sanwa Holdings Corp.............................................. 1,215,000 7,786,723 0.3% Seino Holdings Co., Ltd.......................................... 731,000 7,219,534 0.3% Sohgo Security Services Co., Ltd................................. 338,100 6,834,701 0.3% Other Securities................................................. 541,155,767 23.7% -------------- ------ Total Industrials...................................................... 677,590,975 29.7% -------------- ------ Information Technology -- (9.2%) * Alps Electric Co., Ltd........................................... 1,084,100 9,513,585 0.4% Horiba, Ltd...................................................... 218,850 7,996,873 0.4% IT Holdings Corp................................................. 448,301 6,439,577 0.3% # Taiyo Yuden Co., Ltd............................................. 619,100 7,935,573 0.4% Other Securities................................................. 204,758,270 8.9% -------------- ------ Total Information Technology........................................... 236,643,878 10.4% -------------- ------ Materials -- (10.5%) Mitsui Mining & Smelting Co., Ltd................................ 3,353,000 8,547,456 0.4% Rengo Co., Ltd................................................... 1,219,000 6,519,768 0.3% Sumitomo Osaka Cement Co., Ltd................................... 2,274,000 9,175,091 0.4% Tokuyama Corp.................................................... 1,979,000 7,654,790 0.3% Toyobo Co., Ltd.................................................. 4,867,000 9,352,621 0.4% Other Securities................................................. 228,355,855 10.0% -------------- ------ Total Materials........................................................ 269,605,581 11.8% -------------- ------ Telecommunication Services -- (0.0%) Other Securities................................................. 895,224 0.0% -------------- ------ Utilities -- (0.4%) Other Securities................................................. 10,306,973 0.5% -------------- ------ TOTAL COMMON STOCKS.................................................... 2,265,423,225 99.3% -------------- ------ SHARES/ FACE AMOUNT VALUE+ ------- ------ (000) SECURITIES LENDING COLLATERAL -- (11.7%) (S)@ DFA Short Term Investment Fund................................... 25,929,127 300,000,000 13.2% @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $474,360 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $428,972) to be repurchased at $420,562............... $ 421 420,561 0.0% -------------- ------ TOTAL SECURITIES LENDING COLLATERAL.................................... 300,420,561 13.2% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $2,358,439,958).............................................. $2,565,843,786 112.5% ============== ====== 252 THE JAPANESE SMALL COMPANY SERIES CONTINUED Summary of the Series' investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ------------------------------------------------ LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ---------- -------------- ------- -------------- Common Stocks Consumer Discretionary...... $ 687,517 $ 483,975,729 -- $ 484,663,246 Consumer Staples............ -- 209,651,365 -- 209,651,365 Energy...................... -- 21,136,267 -- 21,136,267 Financials.................. 9,015,209 239,578,093 -- 248,593,302 Health Care................. -- 106,336,414 -- 106,336,414 Industrials................. -- 677,590,975 -- 677,590,975 Information Technology...... -- 236,643,878 -- 236,643,878 Materials................... -- 269,605,581 -- 269,605,581 Telecommunication Services.. -- 895,224 -- 895,224 Utilities................... -- 10,306,973 -- 10,306,973 Securities Lending Collateral. -- 300,420,561 -- 300,420,561 ---------- -------------- -- -------------- TOTAL......................... $9,702,726 $2,556,141,060 -- $2,565,843,786 ========== ============== == ============== See accompanying Notes to Financial Statements. 253 THE ASIA PACIFIC SMALL COMPANY SERIES SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- COMMON STOCKS -- (81.3%) AUSTRALIA -- (40.8%) Adelaide Brighton, Ltd...................... 1,822,054 $ 6,631,679 0.5% # Ansell, Ltd................................. 414,608 7,641,753 0.6% Aristocrat Leisure, Ltd..................... 2,580,305 12,320,792 1.0% Arrium, Ltd................................. 7,583,001 9,907,713 0.8% #* Aurora Oil & Gas, Ltd....................... 2,256,634 6,929,410 0.6% Beach Energy, Ltd........................... 7,442,568 10,052,661 0.8% * BlueScope Steel, Ltd........................ 2,365,706 11,158,750 0.9% # Bradken, Ltd................................ 1,201,799 7,089,963 0.6% # carsales.com, Ltd........................... 1,220,399 12,118,987 1.0% CSR, Ltd.................................... 2,829,296 6,679,778 0.5% # David Jones, Ltd............................ 3,241,419 8,330,548 0.7% Downer EDI, Ltd............................. 2,414,160 11,216,171 0.9% DuluxGroup, Ltd............................. 2,317,895 11,287,494 0.9% Envestra, Ltd............................... 6,189,006 6,576,924 0.5% # Fairfax Media, Ltd.......................... 11,005,131 6,283,630 0.5% Goodman Fielder, Ltd........................ 9,960,250 7,158,645 0.6% GrainCorp, Ltd. Class A..................... 828,668 9,661,614 0.8% # Invocare, Ltd............................... 638,866 6,616,861 0.5% IOOF Holdings, Ltd.......................... 1,239,793 10,543,213 0.8% # Iress, Ltd.................................. 767,110 7,158,910 0.6% # JB Hi-Fi, Ltd............................... 639,044 13,169,341 1.0% # Mineral Resources, Ltd...................... 756,386 8,087,153 0.6% # Monadelphous Group, Ltd..................... 491,743 8,437,605 0.7% # Myer Holdings, Ltd.......................... 3,564,925 8,425,293 0.7% Navitas, Ltd................................ 1,192,373 6,531,773 0.5% # Perpetual, Ltd.............................. 234,074 10,190,785 0.8% Primary Health Care, Ltd.................... 1,709,571 7,975,871 0.6% # Reece Australia, Ltd........................ 238,257 6,301,473 0.5% #* Sims Metal Management, Ltd.................. 863,295 8,177,344 0.6% Spark Infrastructure Group.................. 4,143,888 6,637,154 0.5% # Super Retail Group, Ltd..................... 1,291,875 16,364,147 1.3% # TPG Telecom, Ltd............................ 1,484,123 6,542,913 0.5% # UGL, Ltd.................................... 995,514 6,923,273 0.6% Other Securities............................ 343,191,406 27.0% ------------ ----- TOTAL AUSTRALIA................................. 632,321,027 50.0% ------------ ----- BERMUDA -- (0.0%) Other Securities............................ 4,364 0.0% ------------ ----- CAYMAN ISLANDS -- (0.0%) Other Securities............................ 22,553 0.0% ------------ ----- CHINA -- (0.1%) Other Securities............................ 2,100,808 0.1% ------------ ----- HONG KONG -- (22.5%) # Chow Sang Sang Holdings International, Ltd.. 1,967,000 6,379,263 0.5% # Esprit Holdings, Ltd........................ 13,005,750 23,980,456 1.9% # Giordano International, Ltd................. 9,084,000 8,521,138 0.7% Hopewell Holdings, Ltd...................... 1,804,000 6,087,002 0.5% # Luk Fook Holdings International, Ltd........ 2,289,000 8,142,153 0.7% # Melco International Development, Ltd........ 6,017,000 18,925,645 1.5% Pacific Basin Shipping, Ltd................. 11,222,000 8,030,542 0.6% 254 THE ASIA PACIFIC SMALL COMPANY SERIES CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- HONG KONG -- (Continued) SA SA International Holdings, Ltd............................. 7,008,000 $ 7,672,215 0.6% Shun Tak Holdings, Ltd........................................ 10,767,419 6,237,351 0.5% Xinyi Glass Holdings, Ltd..................................... 12,292,000 12,189,775 1.0% Other Securities.............................................. 242,212,412 19.0% -------------- ------ TOTAL HONG KONG..................................................... 348,377,952 27.5% -------------- ------ NEW ZEALAND -- (6.3%) # Fisher & Paykel Healthcare Corp., Ltd......................... 3,375,400 10,265,529 0.8% Port of Tauranga, Ltd......................................... 528,322 6,019,074 0.5% # Ryman Healthcare, Ltd......................................... 1,742,405 10,861,648 0.9% Sky Network Television, Ltd................................... 1,319,448 6,757,325 0.5% # SKYCITY Entertainment Group, Ltd.............................. 3,420,386 10,984,846 0.9% Other Securities.............................................. 52,594,791 4.1% -------------- ------ TOTAL NEW ZEALAND................................................... 97,483,213 7.7% -------------- ------ PHILIPPINES -- (0.0%) Other Securities.............................................. 17,016 0.0% -------------- ------ SINGAPORE -- (11.6%) # Singapore Post, Ltd........................................... 9,103,120 9,596,310 0.8% # Venture Corp., Ltd............................................ 1,600,000 10,019,818 0.8% Other Securities.............................................. 159,696,850 12.6% -------------- ------ TOTAL SINGAPORE..................................................... 179,312,978 14.2% -------------- ------ TOTAL COMMON STOCKS................................................. 1,259,639,911 99.5% -------------- ------ RIGHTS/WARRANTS -- (0.0%) AUSTRALIA -- (0.0%) Other Securities.............................................. -- 0.0% -------------- ------ HONG KONG -- (0.0%) Other Securities.............................................. -- 0.0% -------------- ------ TOTAL RIGHTS/WARRANTS............................................... -- 0.0% -------------- ------ SHARES/ FACE AMOUNT VALUE+ ------- ------ (000) SECURITIES LENDING COLLATERAL -- (18.7%) (S)@ DFA Short Term Investment Fund................................ 25,064,823 290,000,000 22.9% @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.09%, 11/01/13 (Collateralized by $507,256 U.S. Treasury Note 2.375%, 09/30/14, valued at $518,619) to be repurchased at $506,216..................................................... $ 506 506,215 0.1% @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $51,657 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $46,714) to be repurchased at $45,798.... 46 45,798 0.0% -------------- ------ TOTAL SECURITIES LENDING COLLATERAL................................. 290,552,013 23.0% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $1,443,079,348)........................................... $1,550,191,924 122.5% ============== ====== 255 THE ASIA PACIFIC SMALL COMPANY SERIES CONTINUED Summary of the Series' investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ------------------------------------------------ LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ---------- -------------- ------- -------------- Common Stocks Australia................... $ 217,641 $ 632,103,386 -- $ 632,321,027 Bermuda..................... -- 4,364 -- 4,364 Cayman Islands.............. -- 22,553 -- 22,553 China....................... -- 2,100,808 -- 2,100,808 Hong Kong................... 4,648,233 343,729,719 -- 348,377,952 New Zealand................. -- 97,483,213 -- 97,483,213 Philippines................. -- 17,016 -- 17,016 Singapore................... 10,228 179,302,750 -- 179,312,978 Rights/Warrants Australia................... -- -- -- -- Hong Kong................... -- -- -- -- Securities Lending Collateral. -- 290,552,013 -- 290,552,013 ---------- -------------- -- -------------- TOTAL......................... $4,876,102 $1,545,315,822 -- $1,550,191,924 ========== ============== == ============== See accompanying Notes to Financial Statements. 256 THE UNITED KINGDOM SMALL COMPANY SERIES SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- COMMON STOCKS -- (98.5%) Consumer Discretionary -- (26.5%) Barratt Developments P.L.C........ 5,157,995 $ 27,660,094 1.4% Bellway P.L.C..................... 652,849 15,724,768 0.8% Berkeley Group Holdings P.L.C..... 650,346 24,378,283 1.2% Daily Mail & General Trust P.L.C.. 1,328,069 17,321,746 0.9% * Dixons Retail P.L.C............... 16,850,562 13,202,433 0.7% Greene King P.L.C................. 1,421,372 18,808,719 0.9% Home Retail Group P.L.C........... 4,196,363 13,388,556 0.7% Howden Joinery Group P.L.C........ 2,676,884 13,843,959 0.7% Inchcape P.L.C.................... 2,319,770 23,684,611 1.2% Informa P.L.C..................... 3,121,619 27,964,781 1.4% Ladbrokes P.L.C................... 4,483,503 13,723,124 0.7% Persimmon P.L.C................... 1,366,507 27,666,555 1.4% Rightmove P.L.C................... 319,449 13,574,746 0.7% Taylor Wimpey P.L.C............... 15,614,170 27,549,112 1.4% * Thomas Cook Group P.L.C........... 7,517,966 17,303,141 0.9% William Hill P.L.C................ 3,678,697 23,618,931 1.2% Other Securities.................. 213,258,054 10.6% ------------ ----- Total Consumer Discretionary.......... 532,671,613 26.8% ------------ ----- Consumer Staples -- (3.7%) Booker Group P.L.C................ 7,511,637 18,092,064 0.9% Other Securities.................. 56,304,593 2.8% ------------ ----- Total Consumer Staples................ 74,396,657 3.7% ------------ ----- Energy -- (5.3%) * Afren P.L.C....................... 5,639,345 14,254,859 0.7% John Wood Group P.L.C............. 1,377,126 17,930,742 0.9% Premier Oil P.L.C................. 2,484,308 13,823,320 0.7% Other Securities.................. 60,971,072 3.1% ------------ ----- Total Energy.......................... 106,979,993 5.4% ------------ ----- Financials -- (14.2%) Amlin P.L.C....................... 2,613,209 17,854,912 0.9% Catlin Group, Ltd................. 1,812,653 14,890,947 0.8% Close Brothers Group P.L.C........ 777,213 15,739,934 0.8% Henderson Group P.L.C............. 5,229,541 17,950,379 0.9% Hiscox, Ltd....................... 1,848,675 19,626,193 1.0% ICAP P.L.C........................ 2,874,272 17,748,601 0.9% IG Group Holdings P.L.C........... 1,346,879 13,237,127 0.7% Man Group P.L.C................... 9,800,117 13,947,727 0.7% Other Securities.................. 153,842,365 7.6% ------------ ----- Total Financials...................... 284,838,185 14.3% ------------ ----- Health Care -- (2.6%) Hikma Pharmaceuticals P.L.C....... 713,706 13,730,269 0.7% Other Securities.................. 38,129,221 1.9% ------------ ----- Total Health Care..................... 51,859,490 2.6% ------------ ----- Industrials -- (26.3%) Ashtead Group P.L.C............... 2,598,958 27,310,230 1.4% Balfour Beatty P.L.C.............. 3,596,658 16,448,453 0.8% BBA Aviation P.L.C................ 2,792,163 15,134,152 0.8% Berendsen P.L.C................... 810,481 12,621,571 0.6% 257 THE UNITED KINGDOM SMALL COMPANY SERIES CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- Industrials -- (Continued) Bodycote P.L.C............................................... 1,253,236 $ 13,210,384 0.7% Cobham P.L.C................................................. 5,618,202 25,946,576 1.3% DCC P.L.C.................................................... 431,941 19,342,514 1.0% Hays P.L.C................................................... 7,041,541 14,054,156 0.7% Invensys P.L.C............................................... 2,824,855 22,668,384 1.1% Melrose Industries P.L.C..................................... 4,156,691 21,310,110 1.1% Rotork P.L.C................................................. 335,959 15,392,385 0.8% Serco Group P.L.C............................................ 1,965,238 17,561,115 0.9% Spirax-Sarco Engineering P.L.C............................... 330,635 15,461,631 0.8% Stagecoach Group P.L.C....................................... 2,248,039 12,684,109 0.6% Other Securities............................................. 279,015,291 14.0% -------------- ------ Total Industrials.................................................. 528,161,061 26.6% -------------- ------ Information Technology -- (7.7%) Halma P.L.C.................................................. 1,738,128 15,266,910 0.8% Spectris P.L.C............................................... 582,385 21,564,398 1.1% Other Securities............................................. 117,190,576 5.8% -------------- ------ Total Information Technology....................................... 154,021,884 7.7% -------------- ------ Materials -- (7.5%) Croda International P.L.C.................................... 442,133 17,277,527 0.9% DS Smith P.L.C............................................... 4,875,734 23,632,372 1.2% Other Securities............................................. 109,270,013 5.5% -------------- ------ Total Materials.................................................... 150,179,912 7.6% -------------- ------ Telecommunication Services -- (2.3%) Inmarsat P.L.C............................................... 2,097,288 24,206,344 1.2% Other Securities............................................. 22,947,045 1.2% -------------- ------ Total Telecommunication Services................................... 47,153,389 2.4% -------------- ------ Utilities -- (2.4%) Drax Group P.L.C............................................. 2,103,725 21,477,657 1.1% Pennon Group P.L.C........................................... 1,980,713 21,629,062 1.1% Other Securities............................................. 5,169,242 0.2% -------------- ------ Total Utilities.................................................... 48,275,961 2.4% -------------- ------ TOTAL COMMON STOCKS................................................ 1,978,538,145 99.5% -------------- ------ PREFERRED STOCKS -- (0.0%) Other Securities............................................. 50,874 0.0% -------------- ------ SHARES/ FACE AMOUNT VALUE+ ------- ------ (000) SECURITIES LENDING COLLATERAL -- (1.5%) (S)@ DFA Short Term Investment Fund............................... 2,592,913 30,000,000 1.5% @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $735,534 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $665,157) to be repurchased at $652,117................................................. $ 652 652,115 0.1% -------------- ------ TOTAL SECURITIES LENDING COLLATERAL................................ 30,652,115 1.6% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $1,356,132,190).......................................... $2,009,241,134 101.1% ============== ====== 258 THE UNITED KINGDOM SMALL COMPANY SERIES CONTINUED Summary of the Series' investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ---------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL -------- -------------- ------- -------------- Common Stocks Consumer Discretionary...... $ 19,789 $ 532,651,824 -- $ 532,671,613 Consumer Staples............ -- 74,396,657 -- 74,396,657 Energy...................... -- 106,979,993 -- 106,979,993 Financials.................. -- 284,838,185 -- 284,838,185 Health Care................. -- 51,859,490 -- 51,859,490 Industrials................. 33,414 528,127,647 -- 528,161,061 Information Technology...... 78,663 153,943,221 -- 154,021,884 Materials................... -- 150,179,912 -- 150,179,912 Telecommunication Services.. -- 47,153,389 -- 47,153,389 Utilities................... -- 48,275,961 -- 48,275,961 Preferred Stocks.............. -- 50,874 -- 50,874 Securities Lending Collateral. -- 30,652,115 -- 30,652,115 -------- -------------- -- -------------- TOTAL......................... $131,866 $2,009,109,268 -- $2,009,241,134 ======== ============== == ============== See accompanying Notes to Financial Statements. 259 THE CONTINENTAL SMALL COMPANY SERIES SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- COMMON STOCKS -- (86.7%) AUSTRIA -- (2.1%) Other Securities............... $ 78,645,320 2.4% ------------ ----- BELGIUM -- (2.6%) Ackermans & van Haaren NV...... 118,073 12,787,617 0.4% Other Securities............... 82,826,125 2.6% ------------ ----- TOTAL BELGIUM...................... 95,613,742 3.0% ------------ ----- DENMARK -- (4.1%) GN Store Nord A.S.............. 772,340 17,619,238 0.6% * Jyske Bank A.S................. 252,239 14,261,538 0.5% * Topdanmark A.S................. 507,925 13,824,624 0.4% #* Vestas Wind Systems A.S........ 693,291 18,578,010 0.6% Other Securities............... 88,855,266 2.7% ------------ ----- TOTAL DENMARK...................... 153,138,676 4.8% ------------ ----- FINLAND -- (5.5%) Amer Sports Oyj................ 550,929 11,303,591 0.4% # Elisa Oyj...................... 663,319 16,618,626 0.5% # Neste Oil Oyj.................. 596,102 11,819,716 0.4% Other Securities............... 162,284,236 5.0% ------------ ----- TOTAL FINLAND...................... 202,026,169 6.3% ------------ ----- FRANCE -- (11.1%) #* Alcatel-Lucent................. 12,082,064 46,287,055 1.5% Lagardere SCA.................. 427,942 15,546,813 0.5% # Neopost SA..................... 167,752 12,665,437 0.4% #* Peugeot SA..................... 1,076,690 14,163,830 0.5% Societe Television Francaise 1. 567,362 10,931,881 0.4% Teleperformance................ 275,593 14,588,498 0.5% Other Securities............... 295,307,033 8.9% ------------ ----- TOTAL FRANCE....................... 409,490,547 12.7% ------------ ----- GERMANY -- (12.5%) * Aareal Bank AG................. 423,110 16,227,581 0.5% # Celesio AG..................... 406,712 12,644,638 0.4% # Deutsche Wohnen AG............. 816,056 15,347,428 0.5% Freenet AG..................... 489,959 12,726,578 0.4% Rheinmetall AG................. 189,044 11,687,366 0.4% Rhoen Klinikum AG.............. 500,406 13,984,605 0.4% Stada Arzneimittel AG.......... 287,980 16,553,592 0.5% Other Securities............... 363,033,443 11.3% ------------ ----- TOTAL GERMANY...................... 462,205,231 14.4% ------------ ----- GREECE -- (2.0%) Other Securities............... 75,861,383 2.4% ------------ ----- IRELAND -- (1.9%) Paddy Power P.L.C.............. 175,221 14,181,124 0.4% Smurfit Kappa Group P.L.C...... 554,973 13,433,965 0.4% Other Securities............... 44,425,840 1.4% ------------ ----- TOTAL IRELAND...................... 72,040,929 2.2% ------------ ----- 260 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- ISRAEL -- (2.3%) Other Securities............................ $ 86,155,595 2.7% ------------ ---- ITALY -- (8.1%) Azimut Holding SpA.......................... 491,069 12,457,026 0.4% * Banca Popolare dell'Emilia Romagna S.c.r.l.. 1,449,109 13,922,026 0.4% * Banco Popolare.............................. 6,663,294 13,237,221 0.4% #* Finmeccanica SpA............................ 1,838,316 13,471,206 0.4% * Mediaset SpA................................ 3,041,414 15,187,868 0.5% Unione di Banche Italiane SCPA.............. 2,765,965 19,116,785 0.6% Other Securities............................ 214,025,040 6.7% ------------ ---- TOTAL ITALY..................................... 301,417,172 9.4% ------------ ---- NETHERLANDS -- (5.0%) Aalberts Industries NV...................... 480,099 14,334,222 0.4% Delta Lloyd NV.............................. 943,521 20,004,182 0.6% Nutreco NV.................................. 359,256 17,562,430 0.6% #* PostNL NV................................... 2,402,055 12,551,522 0.4% * SBM Offshore NV............................. 948,481 19,852,164 0.6% Other Securities............................ 99,359,737 3.1% ------------ ---- TOTAL NETHERLANDS............................... 183,664,257 5.7% ------------ ---- NORWAY -- (3.1%) Other Securities............................ 115,126,917 3.6% ------------ ---- PORTUGAL -- (1.5%) Other Securities............................ 55,664,423 1.7% ------------ ---- RUSSIA -- (0.0%) Other Securities............................ 994,896 0.0% ------------ ---- SPAIN -- (5.3%) Bankinter SA................................ 2,085,446 12,715,217 0.4% # Bolsas y Mercados Espanoles SA.............. 338,781 12,667,129 0.4% * Jazztel P.L.C............................... 1,025,473 11,231,832 0.4% # Viscofan SA................................. 213,526 11,326,669 0.4% Other Securities............................ 146,812,397 4.4% ------------ ---- TOTAL SPAIN..................................... 194,753,244 6.0% ------------ ---- SWEDEN -- (8.7%) Castellum AB................................ 739,664 11,357,362 0.4% Modern Times Group AB Class B............... 234,304 12,780,214 0.4% Securitas AB Class B........................ 998,620 11,387,211 0.4% Other Securities............................ 284,674,858 8.7% ------------ ---- TOTAL SWEDEN.................................... 320,199,645 9.9% ------------ ---- SWITZERLAND -- (10.7%) * Dufry AG.................................... 73,187 11,824,599 0.4% Galenica AG................................. 20,798 18,381,416 0.6% GAM Holding AG.............................. 806,220 15,064,909 0.5% Georg Fischer AG............................ 18,366 12,651,376 0.4% Helvetia Holding AG......................... 27,336 12,892,724 0.4% Lonza Group AG.............................. 255,221 22,781,770 0.7% OC Oerlikon Corp. AG........................ 858,856 12,006,957 0.4% PSP Swiss Property AG....................... 148,327 12,748,515 0.4% Swiss Life Holding AG....................... 62,436 12,379,830 0.4% 261 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- SWITZERLAND -- (Continued) Other Securities............................................. $ 263,744,247 8.1% -------------- ------ TOTAL SWITZERLAND.................................................. 394,476,343 12.3% -------------- ------ UNITED KINGDOM -- (0.2%) Other Securities............................................. 6,763,969 0.2% -------------- ------ TOTAL COMMON STOCKS................................................ 3,208,238,458 99.7% -------------- ------ RIGHTS/WARRANTS -- (0.0%) AUSTRIA -- (0.0%) Other Securities............................................. -- 0.0% -------------- ------ ISRAEL -- (0.0%) Other Securities............................................. 1 0.0% -------------- ------ ITALY -- (0.0%) Other Securities............................................. 51,097 0.0% -------------- ------ TOTAL RIGHTS/WARRANTS.............................................. 51,098 0.0% -------------- ------ SHARES/ FACE AMOUNT VALUE+ ------- ------ (000) SECURITIES LENDING COLLATERAL -- (13.3%) (S)@ DFA Short Term Investment Fund............................... 42,437,338 491,000,000 15.3% @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $123,381 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $111,576) to be repurchased at $109,388................................................. $ 109 109,388 0.0% -------------- ------ TOTAL SECURITIES LENDING COLLATERAL................................ 491,109,388 15.3% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $2,907,677,627).......................................... $3,699,398,944 115.0% ============== ====== 262 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED Summary of the Series' investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ------------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ----------- -------------- ------- -------------- Common Stocks Austria..................... -- $ 78,645,320 -- $ 78,645,320 Belgium..................... -- 95,613,742 -- 95,613,742 Denmark..................... $ 48,818 153,089,858 -- 153,138,676 Finland..................... -- 202,026,169 -- 202,026,169 France...................... 1,198,479 408,292,068 -- 409,490,547 Germany..................... 9,926,017 452,279,214 -- 462,205,231 Greece...................... -- 75,861,383 -- 75,861,383 Ireland..................... 18,523 72,022,406 -- 72,040,929 Israel...................... -- 86,155,595 -- 86,155,595 Italy....................... 5,458,905 295,958,267 -- 301,417,172 Netherlands................. -- 183,664,257 -- 183,664,257 Norway...................... 1,764,837 113,362,080 -- 115,126,917 Portugal.................... -- 55,664,423 -- 55,664,423 Russia...................... -- 994,896 -- 994,896 Spain....................... -- 194,753,244 -- 194,753,244 Sweden...................... 54,338 320,145,307 -- 320,199,645 Switzerland................. -- 394,476,343 -- 394,476,343 United Kingdom.............. -- 6,763,969 -- 6,763,969 Rights/Warrants Austria..................... -- -- -- -- Israel...................... -- 1 -- 1 Italy....................... -- 51,097 -- 51,097 Securities Lending Collateral. -- 491,109,388 -- 491,109,388 ----------- -------------- -- -------------- TOTAL......................... $18,469,917 $3,680,929,027 -- $3,699,398,944 =========== ============== == ============== See accompanying Notes to Financial Statements. 263 THE CANADIAN SMALL COMPANY SERIES SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- COMMON STOCKS -- (77.1%) Consumer Discretionary -- (7.9%) # Cineplex, Inc.......................... 271,135 $ 10,921,853 1.5% # Corus Entertainment, Inc. Class B...... 369,716 8,616,601 1.2% Dorel Industries, Inc. Class B......... 126,820 4,712,038 0.7% #* Imax Corp.............................. 211,609 6,155,566 0.8% Linamar Corp........................... 269,606 9,065,733 1.2% Martinrea International, Inc........... 461,356 4,889,449 0.7% # RONA, Inc.............................. 681,945 7,992,488 1.1% Other Securities....................... 23,079,749 3.0% ------------ ----- Total Consumer Discretionary............... 75,433,477 10.2% ------------ ----- Consumer Staples -- (3.3%) # Maple Leaf Foods, Inc.................. 500,264 7,364,938 1.0% North West Co., Inc. (The)............. 232,610 5,784,853 0.8% Other Securities....................... 18,477,910 2.5% ------------ ----- Total Consumer Staples..................... 31,627,701 4.3% ------------ ----- Energy -- (20.8%) * Bankers Petroleum, Ltd................. 1,277,846 4,902,301 0.7% #* Bellatrix Exploration, Ltd............. 655,708 4,911,600 0.7% Calfrac Well Services, Ltd............. 154,348 4,811,116 0.7% # Enbridge Income Fund Holdings, Inc..... 227,285 5,090,016 0.7% * Gran Tierra Energy, Inc................ 1,391,012 10,486,121 1.4% * Legacy Oil + Gas, Inc.................. 745,800 5,049,967 0.7% # Lightstream Resources, Ltd............. 863,190 5,546,804 0.8% # Mullen Group, Ltd...................... 458,025 12,273,743 1.7% # Parkland Fuel Corp..................... 353,327 6,475,883 0.9% # Pason Systems, Inc..................... 285,137 5,926,168 0.8% Secure Energy Services, Inc............ 437,854 6,210,963 0.8% # Trican Well Service, Ltd............... 643,185 9,037,223 1.2% Trinidad Drilling, Ltd................. 604,997 5,860,519 0.8% # Whitecap Resources, Inc................ 784,268 9,108,987 1.2% Other Securities....................... 103,238,492 13.7% ------------ ----- Total Energy............................... 198,929,903 26.8% ------------ ----- Financials -- (6.2%) # AGF Management, Ltd. Class B........... 381,468 5,037,946 0.7% # Canadian Western Bank.................. 300,957 9,652,330 1.3% FirstService Corp...................... 135,548 5,634,346 0.8% # Home Capital Group, Inc................ 120,600 9,571,429 1.3% Laurentian Bank of Canada.............. 147,250 6,574,102 0.9% Other Securities....................... 23,304,568 3.1% ------------ ----- Total Financials........................... 59,774,721 8.1% ------------ ----- Health Care -- (1.5%) Other Securities....................... 14,593,623 2.0% ------------ ----- Industrials -- (11.2%) * ATS Automation Tooling Systems, Inc.... 440,214 6,088,223 0.8% # Black Diamond Group, Ltd............... 188,933 4,948,698 0.7% Genivar, Inc........................... 181,860 5,204,721 0.7% MacDonald Dettwiler & Associates, Ltd.. 85,470 6,521,017 0.9% # Ritchie Bros Auctioneers, Inc.......... 273,199 5,400,308 0.7% # Russel Metals, Inc..................... 316,110 8,731,567 1.2% 264 THE CANADIAN SMALL COMPANY SERIES CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- Industrials -- (Continued) Stantec, Inc..................................................... 228,285 $ 13,565,951 1.8% Transcontinental, Inc. Class A................................... 333,758 5,329,757 0.7% # TransForce, Inc.................................................. 388,103 8,594,733 1.1% Other Securities................................................. 43,443,189 5.9% ------------ ------ Total Industrials...................................................... 107,828,164 14.5% ------------ ------ Information Technology -- (4.5%) #* Celestica, Inc................................................... 949,607 10,428,236 1.4% # Davis + Henderson Corp........................................... 334,212 8,606,524 1.2% Other Securities................................................. 23,741,614 3.2% ------------ ------ Total Information Technology........................................... 42,776,374 5.8% ------------ ------ Materials -- (17.4%) # Alamos Gold, Inc................................................. 503,857 8,026,725 1.1% # AuRico Gold, Inc................................................. 1,234,795 5,127,955 0.7% * Canfor Corp...................................................... 362,555 7,514,327 1.0% CCL Industries, Inc. Class B..................................... 111,467 7,654,570 1.0% * Dominion Diamond Corp............................................ 379,239 5,121,263 0.7% #* First Majestic Silver Corp....................................... 431,070 4,878,558 0.7% # HudBay Minerals, Inc............................................. 872,492 7,112,820 1.0% # Sherritt International Corp...................................... 1,628,826 5,577,048 0.8% Other Securities................................................. 115,295,893 15.4% ------------ ------ Total Materials........................................................ 166,309,159 22.4% ------------ ------ Telecommunication Services -- (0.3%) Other Securities................................................. 2,823,941 0.4% ------------ ------ Utilities -- (4.0%) # Algonquin Power & Utilities Corp................................. 912,415 5,889,371 0.8% # Capital Power Corp............................................... 376,609 7,801,999 1.1% # Superior Plus Corp............................................... 653,197 6,966,432 0.9% Other Securities................................................. 18,058,688 2.4% ------------ ------ Total Utilities........................................................ 38,716,490 5.2% ------------ ------ TOTAL COMMON STOCKS.................................................... 738,813,553 99.7% ------------ ------ SHARES/ FACE AMOUNT VALUE+ ------- ------ - (000) SECURITIES LENDING COLLATERAL -- (22.9%) (S)@ DFA Short Term Investment Fund................................... 18,928,263 219,000,000 29.5% @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $753,495 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $681,400) to be repurchased at $668,041..... $ 668 668,039 0.1% ------------ ------ TOTAL SECURITIES LENDING COLLATERAL.................................... 219,668,039 29.6% ------------ ------ TOTAL INVESTMENTS -- (100.0%) (Cost $1,032,941,509).............................................. $958,481,592 129.3% ============ ====== 265 THE CANADIAN SMALL COMPANY SERIES CONTINUED Summary of the Series' investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ---------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ------------ ------------ ------- ------------ Common Stocks Consumer Discretionary...... $ 75,433,477 -- -- $ 75,433,477 Consumer Staples............ 31,627,701 -- -- 31,627,701 Energy...................... 198,929,422 $ 481 -- 198,929,903 Financials.................. 59,774,721 -- -- 59,774,721 Health Care................. 14,547,507 46,116 -- 14,593,623 Industrials................. 107,828,164 -- -- 107,828,164 Information Technology...... 42,776,374 -- -- 42,776,374 Materials................... 166,308,690 469 -- 166,309,159 Telecommunication Services.. 2,823,941 -- -- 2,823,941 Utilities................... 38,716,490 -- -- 38,716,490 Securities Lending Collateral. -- 219,668,039 -- 219,668,039 ------------ ------------ -- ------------ TOTAL......................... $738,766,487 $219,715,105 -- $958,481,592 ============ ============ == ============ See accompanying Notes to Financial Statements. 266 THE EMERGING MARKETS SERIES SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- COMMON STOCKS -- (90.1%) ARGENTINA -- (0.0%) Other Securities.................................... $ -- 0.0% -------------- ----- BRAZIL -- (7.7%) BRF SA ADR.......................................... 564,360 13,222,955 0.4% Cia de Bebidas das Americas ADR..................... 622,039 23,139,851 0.6% Petroleo Brasileiro SA ADR.......................... 1,372,750 23,927,033 0.6% Petroleo Brasileiro SA Sponsored ADR................ 1,985,055 36,048,599 1.0% # Vale SA Sponsored ADR............................... 1,249,020 19,996,810 0.5% Other Securities.................................... 191,525,535 5.1% -------------- ----- TOTAL BRAZIL............................................ 307,860,783 8.2% -------------- ----- CHILE -- (1.6%) Other Securities.................................... 65,091,958 1.7% -------------- ----- CHINA -- (14.1%) Bank of China, Ltd. Class H......................... 65,514,100 30,844,677 0.8% China Construction Bank Corp. Class H............... 56,443,590 43,914,613 1.2% China Life Insurance Co., Ltd. ADR.................. 330,798 13,043,365 0.4% # China Mobile, Ltd. Sponsored ADR.................... 877,340 45,639,227 1.2% CNOOC, Ltd. ADR..................................... 115,255 23,317,239 0.6% Industrial & Commercial Bank of China, Ltd. Class H. 59,907,185 41,919,158 1.1% # PetroChina Co., Ltd. ADR............................ 145,110 16,436,610 0.4% Tencent Holdings, Ltd............................... 763,600 41,659,099 1.1% Other Securities.................................... 306,311,176 8.1% -------------- ----- TOTAL CHINA............................................. 563,085,164 14.9% -------------- ----- COLOMBIA -- (0.7%) Other Securities.................................... 28,765,622 0.8% -------------- ----- CZECH REPUBLIC -- (0.3%) Other Securities.................................... 12,280,918 0.3% -------------- ----- EGYPT -- (0.1%) Other Securities.................................... 3,051,734 0.1% -------------- ----- HONG KONG -- (0.0%) Other Securities.................................... 6,042 0.0% -------------- ----- HUNGARY -- (0.3%) Other Securities.................................... 11,759,342 0.3% -------------- ----- INDIA -- (6.3%) HDFC Bank, Ltd...................................... 1,530,953 17,028,382 0.5% Infosys, Ltd........................................ 234,483 12,485,974 0.3% Infosys, Ltd. Sponsored ADR......................... 233,468 12,387,812 0.3% Reliance Industries, Ltd............................ 1,433,931 21,342,373 0.6% Tata Consultancy Services, Ltd...................... 413,679 14,186,300 0.4% Other Securities.................................... 174,387,200 4.6% -------------- ----- TOTAL INDIA............................................. 251,818,041 6.7% -------------- ----- INDONESIA -- (2.4%) Other Securities.................................... 94,111,506 2.5% -------------- ----- 267 THE EMERGING MARKETS SERIES CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- MALAYSIA -- (4.1%) # Malayan Banking Bhd........................ 5,003,321 $ 15,508,389 0.4% Other Securities........................... 147,272,696 3.9% -------------- ----- TOTAL MALAYSIA................................. 162,781,085 4.3% -------------- ----- MEXICO -- (5.2%) # America Movil S.A.B. de C.V. Series L...... 37,750,669 40,420,537 1.1% * Cemex S.A.B. de C.V. Sponsored ADR......... 1,285,964 13,605,497 0.4% Fomento Economico Mexicano S.A.B. de C.V... 1,793,669 16,765,060 0.4% Grupo Financiero Banorte S.A.B. de C.V..... 2,832,687 18,133,018 0.5% Grupo Televisa S.A.B. Series CPO........... 2,556,698 15,557,014 0.4% Wal-Mart de Mexico S.A.B. de C.V. Series V. 5,418,775 14,087,631 0.4% Other Securities........................... 87,399,675 2.3% -------------- ----- TOTAL MEXICO................................... 205,968,432 5.5% -------------- ----- PERU -- (0.3%) Other Securities........................... 10,242,946 0.3% -------------- ----- PHILIPPINES -- (1.3%) Other Securities........................... 50,006,707 1.3% -------------- ----- POLAND -- (1.7%) Other Securities........................... 68,061,972 1.8% -------------- ----- RUSSIA -- (5.2%) Gazprom OAO Sponsored ADR.................. 6,850,921 64,038,306 1.7% Lukoil OAO Sponsored ADR................... 556,966 36,477,853 1.0% Sberbank of Russia Sponsored ADR........... 2,809,303 35,825,291 1.0% Other Securities........................... 69,300,946 1.8% -------------- ----- TOTAL RUSSIA................................... 205,642,396 5.5% -------------- ----- SOUTH AFRICA -- (7.1%) # MTN Group, Ltd............................. 1,882,816 37,425,026 1.0% # Naspers, Ltd. Class N...................... 416,705 39,005,158 1.0% # Sasol, Ltd. Sponsored ADR.................. 583,774 29,784,149 0.8% Standard Bank Group, Ltd................... 1,209,908 15,392,568 0.4% Other Securities........................... 162,612,740 4.3% -------------- ----- TOTAL SOUTH AFRICA............................. 284,219,641 7.5% -------------- ----- SOUTH KOREA -- (14.9%) Hyundai Mobis.............................. 70,280 19,824,583 0.5% Hyundai Motor Co........................... 158,812 37,835,980 1.0% KB Financial Group, Inc.................... 353,265 13,912,801 0.4% # Kia Motors Corp............................ 270,669 15,726,190 0.4% LG Chem, Ltd............................... 47,843 13,495,647 0.4% Naver Corp................................. 27,242 15,287,313 0.4% POSCO...................................... 50,240 14,998,694 0.4% Samsung Electronics Co., Ltd............... 81,840 112,862,139 3.0% Samsung Electronics Co., Ltd. GDR.......... 49,372 34,218,733 0.9% Shinhan Financial Group Co., Ltd........... 374,876 16,345,946 0.4% * SK Hynix, Inc.............................. 512,610 15,424,892 0.4% Other Securities........................... 283,823,686 7.6% -------------- ----- TOTAL SOUTH KOREA.............................. 593,756,604 15.8% -------------- ----- 268 THE EMERGING MARKETS SERIES CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- TAIWAN -- (12.3%) Cathay Financial Holding Co., Ltd............................ 8,634,048 $ 13,043,972 0.4% Hon Hai Precision Industry Co., Ltd.......................... 12,590,056 32,007,618 0.9% # MediaTek, Inc................................................ 1,249,995 17,089,840 0.5% # Taiwan Semiconductor Manufacturing Co., Ltd.................. 25,188,808 92,834,992 2.5% Other Securities............................................. 334,744,052 8.7% -------------- ------ TOTAL TAIWAN....................................................... 489,720,474 13.0% -------------- ------ THAILAND -- (2.6%) Other Securities............................................. 103,053,381 2.7% -------------- ------ TURKEY -- (1.9%) Other Securities............................................. 74,508,182 2.0% -------------- ------ TOTAL COMMON STOCKS................................................ 3,585,792,930 95.2% -------------- ------ PREFERRED STOCKS -- (3.8%) BRAZIL -- (3.7%) Banco Bradesco SA............................................ 2,244,395 32,334,852 0.9% Itau Unibanco Holding SA..................................... 2,568,240 39,737,954 1.1% Vale SA...................................................... 1,529,491 22,387,437 0.6% Other Securities............................................. 52,726,591 1.3% -------------- ------ TOTAL BRAZIL....................................................... 147,186,834 3.9% -------------- ------ CHILE -- (0.0%) Other Securities............................................. 52,088 0.0% -------------- ------ COLOMBIA -- (0.1%) Other Securities............................................. 3,707,074 0.1% -------------- ------ TOTAL PREFERRED STOCKS............................................. 150,945,996 4.0% -------------- ------ RIGHTS/WARRANTS -- (0.0%) SOUTH KOREA -- (0.0%) Other Securities............................................. -- 0.0% -------------- ------ SHARES/ FACE AMOUNT VALUE+ ------- ------ - (000) SECURITIES LENDING COLLATERAL -- (6.1%) (S)@ DFA Short Term Investment Fund............................... 21,089,023 244,000,000 6.5% @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $799,156 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $722,691) to be repurchased at $708,523................................................. $ 709 708,521 0.0% -------------- ------ TOTAL SECURITIES LENDING COLLATERAL................................ 244,708,521 6.5% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $2,769,771,714).......................................... $3,981,447,447 105.7% ============== ====== 269 THE EMERGING MARKETS SERIES CONTINUED Summary of the Series' investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) -------------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ------------ -------------- ------- -------------- Common Stocks Argentina................... -- -- -- -- Brazil...................... $168,534,522 $ 139,326,261 -- $ 307,860,783 Chile....................... 28,146,828 36,945,130 -- 65,091,958 China....................... 124,364,007 438,721,157 -- 563,085,164 Colombia.................... 28,765,622 -- -- 28,765,622 Czech Republic.............. -- 12,280,918 -- 12,280,918 Egypt....................... -- 3,051,734 -- 3,051,734 Hong Kong................... -- 6,042 -- 6,042 Hungary..................... -- 11,759,342 -- 11,759,342 India....................... 25,671,195 226,146,846 -- 251,818,041 Indonesia................... 37,082 94,074,424 -- 94,111,506 Malaysia.................... -- 162,781,085 -- 162,781,085 Mexico...................... 205,968,432 -- -- 205,968,432 Peru........................ 10,242,946 -- -- 10,242,946 Philippines................. 264,468 49,742,239 -- 50,006,707 Poland...................... -- 68,061,972 -- 68,061,972 Russia...................... 9,320,240 196,322,156 -- 205,642,396 South Africa................ 38,062,533 246,157,108 -- 284,219,641 South Korea................. 18,326,152 575,430,452 -- 593,756,604 Taiwan...................... 9,347,981 480,372,493 -- 489,720,474 Thailand.................... 103,053,381 -- -- 103,053,381 Turkey...................... 1,154,826 73,353,356 -- 74,508,182 Preferred Stocks Brazil...................... 4,164,774 143,022,060 -- 147,186,834 Chile....................... -- 52,088 -- 52,088 Colombia.................... 3,707,074 -- -- 3,707,074 Rights/Warrants South Korea................. -- -- -- -- Securities Lending Collateral. -- 244,708,521 -- 244,708,521 ------------ -------------- -- -------------- TOTAL......................... $779,132,063 $3,202,315,384 -- $3,981,447,447 ============ ============== == ============== See accompanying Notes to Financial Statements. 270 THE EMERGING MARKETS SMALL CAP SERIES SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- COMMON STOCKS -- (87.8%) ARGENTINA -- (0.0%) Other Securities.............................. $ 1 0.0% -------------- ----- BRAZIL -- (8.3%) Anhanguera Educacional Participacoes SA....... 2,379,735 14,230,629 0.4% Cia Hering.................................... 1,041,790 15,090,189 0.4% Diagnosticos da America SA.................... 2,097,741 10,768,045 0.3% EDP--Energias do Brasil SA.................... 2,238,398 12,770,046 0.3% Equatorial Energia SA......................... 1,308,435 13,571,943 0.3% Estacio Participacoes SA...................... 2,460,804 19,001,453 0.5% Mills Estruturas e Servicos de Engenharia SA.. 684,126 9,450,762 0.2% MRV Engenharia e Participacoes SA............. 2,831,833 12,175,228 0.3% Odontoprev SA................................. 2,549,265 10,526,927 0.3% * PDG Realty SA Empreendimentos e Participacoes. 11,912,853 10,700,850 0.3% Sul America SA................................ 1,675,809 12,241,484 0.3% Totvs SA...................................... 592,700 10,010,991 0.2% Other Securities.............................. 228,827,701 5.5% -------------- ----- TOTAL BRAZIL...................................... 379,366,248 9.3% -------------- ----- CHILE -- (1.2%) Other Securities.............................. 53,687,227 1.3% -------------- ----- CHINA -- (13.4%) China Everbright International, Ltd........... 9,335,800 9,330,899 0.2% Kingboard Chemical Holdings, Ltd.............. 3,127,921 8,140,723 0.2% # Kingsoft Corp., Ltd........................... 3,169,000 7,862,517 0.2% Sino Biopharmaceutical........................ 13,536,000 9,497,013 0.2% # Sino-Ocean Land Holdings, Ltd................. 12,793,851 8,112,580 0.2% Other Securities.............................. 565,241,184 13.9% -------------- ----- TOTAL CHINA....................................... 608,184,916 14.9% -------------- ----- COLOMBIA -- (0.0%) Other Securities.............................. 766,239 0.0% -------------- ----- HONG KONG -- (0.0%) Other Securities.............................. 784,892 0.0% -------------- ----- HUNGARY -- (0.0%) Other Securities.............................. 1,195,029 0.0% -------------- ----- INDIA -- (6.5%) Other Securities.............................. 294,353,584 7.2% -------------- ----- INDONESIA -- (3.2%) Mayora Indah Tbk PT........................... 3,284,750 8,523,530 0.2% Other Securities.............................. 137,177,075 3.3% -------------- ----- TOTAL INDONESIA................................... 145,700,605 3.5% -------------- ----- ISRAEL -- (0.0%) Other Securities.............................. 42,022 0.0% -------------- ----- MACEDONIA -- (0.0%) Other Securities.............................. -- 0.0% -------------- ----- 271 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- MALAYSIA -- (5.7%) Bursa Malaysia Bhd...................................... 3,510,700 $ 8,945,447 0.2% KPJ Healthcare Bhd...................................... 4,305,350 8,324,145 0.2% Other Securities........................................ 240,090,093 5.9% -------------- ----- TOTAL MALAYSIA.............................................. 257,359,685 6.3% -------------- ----- MEXICO -- (3.8%) # Alsea S.A.B. de C.V..................................... 3,553,447 11,057,499 0.3% #* Genomma Lab Internacional S.A.B. de C.V. Class B........ 6,587,305 17,544,605 0.4% #* Gruma S.A.B. de C.V. Class B............................ 1,690,397 11,622,795 0.3% Grupo Aeroportuario del Pacifico S.A.B. de C.V. Class B. 1,650,025 8,592,056 0.2% #* Industrias CH S.A.B. de C.V. Series B................... 1,655,914 8,125,208 0.2% #* Promotora y Operadora de Infraestructura S.A.B. de C.V.. 1,672,951 16,988,199 0.4% Other Securities........................................ 100,477,518 2.5% -------------- ----- TOTAL MEXICO................................................ 174,407,880 4.3% -------------- ----- PHILIPPINES -- (1.3%) Other Securities........................................ 59,995,546 1.5% -------------- ----- POLAND -- (2.2%) Asseco Poland SA........................................ 564,202 9,216,429 0.2% Lubelski Wegiel Bogdanka SA............................. 266,391 9,844,205 0.2% Other Securities........................................ 80,187,914 2.0% -------------- ----- TOTAL POLAND................................................ 99,248,548 2.4% -------------- ----- SOUTH AFRICA -- (7.4%) Aeci, Ltd............................................... 770,360 9,389,010 0.2% * Aveng, Ltd.............................................. 3,013,152 8,847,846 0.2% AVI, Ltd................................................ 2,511,843 14,755,317 0.4% Barloworld, Ltd......................................... 993,091 8,896,276 0.2% # Clicks Group, Ltd....................................... 2,118,882 13,215,346 0.3% Coronation Fund Managers, Ltd........................... 1,607,942 13,114,119 0.3% * Murray & Roberts Holdings, Ltd.......................... 3,176,473 9,670,849 0.2% Nampak, Ltd............................................. 2,740,692 9,060,557 0.2% Omnia Holdings, Ltd..................................... 486,127 10,032,055 0.3% PPC, Ltd................................................ 3,686,071 11,644,507 0.3% Reunert, Ltd............................................ 1,171,205 8,207,620 0.2% * Sappi, Ltd.............................................. 3,959,742 11,670,111 0.3% Spar Group, Ltd. (The).................................. 855,975 10,953,523 0.3% Tongaat Hulett, Ltd..................................... 734,460 9,252,131 0.2% Other Securities........................................ 190,008,143 4.7% -------------- ----- TOTAL SOUTH AFRICA.......................................... 338,717,410 8.3% -------------- ----- SOUTH KOREA -- (13.3%) DGB Financial Group, Inc................................ 671,453 10,773,239 0.3% # Hotel Shilla Co., Ltd................................... 161,958 10,462,226 0.3% Hyosung Corp............................................ 121,019 8,158,566 0.2% Macquarie Korea Infrastructure Fund..................... 1,468,851 9,136,011 0.2% # Mando Corp.............................................. 60,934 8,214,702 0.2% # Shinsegae Co., Ltd...................................... 35,692 8,985,590 0.2% Yuhan Corp.............................................. 44,525 7,832,835 0.2% Other Securities........................................ 541,117,350 13.2% -------------- ----- TOTAL SOUTH KOREA........................................... 604,680,519 14.8% -------------- ----- TAIWAN -- (13.9%) Other Securities........................................ 632,416,334 15.4% -------------- ----- 272 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- THAILAND -- (4.5%) Other Securities............................................. $ 202,541,380 4.9% -------------- ------ TURKEY -- (3.1%) Other Securities............................................. 141,990,626 3.5% -------------- ------ TOTAL COMMON STOCKS................................................ 3,995,438,691 97.6% -------------- ------ PREFERRED STOCKS -- (1.3%) BRAZIL -- (1.3%) Marcopolo SA................................................. 3,359,100 8,659,771 0.2% Other Securities............................................. 51,863,133 1.3% -------------- ------ TOTAL BRAZIL....................................................... 60,522,904 1.5% -------------- ------ CHILE -- (0.0%) Other Securities............................................. 20,680 0.0% -------------- ------ COLOMBIA -- (0.0%) Other Securities............................................. 265,674 0.0% -------------- ------ TOTAL PREFERRED STOCKS............................................. 60,809,258 1.5% -------------- ------ RIGHTS/WARRANTS -- (0.0%) BRAZIL -- (0.0%) Other Securities............................................. 4,062 0.0% -------------- ------ CHILE -- (0.0%) Other Securities............................................. 93 0.0% -------------- ------ MALAYSIA -- (0.0%) Other Securities............................................. 221,901 0.0% -------------- ------ POLAND -- (0.0%) Other Securities............................................. -- 0.0% -------------- ------ SOUTH KOREA -- (0.0%) Other Securities............................................. 16,964 0.0% -------------- ------ THAILAND -- (0.0%) Other Securities............................................. 34,567 0.0% -------------- ------ TOTAL RIGHTS/WARRANTS.............................................. 277,587 0.0% -------------- ------ SHARES/ FACE AMOUNT VALUE+ ------- ------ - (000) SECURITIES LENDING COLLATERAL -- (10.9%) (S)@ DFA Short Term Investment Fund............................... 42,610,199 493,000,000 12.1% @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $943,517 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $853,240) to be repurchased at $836,513................................................. $ 837 836,510 0.0% -------------- ------ TOTAL SECURITIES LENDING COLLATERAL................................ 493,836,510 12.1% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $4,088,232,390).......................................... $4,550,362,046 111.2% ============== ====== 273 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Summary of the Series' investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) -------------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ------------ -------------- ------- -------------- Common Stocks Argentina................... $ 1 -- -- $ 1 Brazil...................... 6,838,317 $ 372,527,931 -- 379,366,248 Chile....................... 271,673 53,415,554 -- 53,687,227 China....................... 807,859 607,377,057 -- 608,184,916 Colombia.................... 766,239 -- -- 766,239 Hong Kong................... -- 784,892 -- 784,892 Hungary..................... -- 1,195,029 -- 1,195,029 India....................... 76,835 294,276,749 -- 294,353,584 Indonesia................... 2,879,423 142,821,182 -- 145,700,605 Israel...................... -- 42,022 -- 42,022 Macedonia................... -- -- -- -- Malaysia.................... -- 257,359,685 -- 257,359,685 Mexico...................... 174,288,074 119,806 -- 174,407,880 Philippines................. -- 59,995,546 -- 59,995,546 Poland...................... -- 99,248,548 -- 99,248,548 South Africa................ 7,272,777 331,444,633 -- 338,717,410 South Korea................. -- 604,680,519 -- 604,680,519 Taiwan...................... 2,507,973 629,908,361 -- 632,416,334 Thailand.................... 202,447,408 93,972 -- 202,541,380 Turkey...................... -- 141,990,626 -- 141,990,626 Preferred Stocks Brazil...................... -- 60,522,904 -- 60,522,904 Chile....................... -- 20,680 -- 20,680 Colombia.................... 265,674 -- -- 265,674 Rights/Warrants Brazil...................... -- 4,062 -- 4,062 Chile....................... -- 93 -- 93 Malaysia.................... -- 221,901 -- 221,901 Poland...................... -- -- -- -- South Korea................. -- 16,964 -- 16,964 Thailand.................... -- 34,567 -- 34,567 Securities Lending Collateral. -- 493,836,510 -- 493,836,510 ------------ -------------- -- -------------- TOTAL......................... $398,422,253 $4,151,939,793 -- $4,550,362,046 ============ ============== == ============== See accompanying Notes to Financial Statements. 274 THE DFA INVESTMENT TRUST COMPANY STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS) THE JAPANESE THE ASIA THE U.S. LARGE THE DFA SMALL PACIFIC SMALL CAP VALUE INTERNATIONAL COMPANY COMPANY SERIES VALUE SERIES* SERIES SERIES -------------- ------------- ------------ ------------- ASSETS: Investments at Value (including $506,475, $716,973, $277,239 and $259,540 of securities on loan, respectively)........... $14,801,963 $8,745,596 $2,265,423 $1,259,640 Temporary Cash Investments at Value & Cost................... 110,064 -- -- -- Collateral Received from Securities on Loan at Value & Cost.. -- 706 421 552 Collateral from Securities on Loan Invested in Affiliate at Value & Cost................................................ 521,769 726,000 300,000 290,000 Foreign Currencies at Value.................................. -- 24,350 2,022 1,579 Cash......................................................... -- 20,781 641 7,261 Receivables: Investment Securities Sold................................. 26,504 4,029 2,551 256 Dividends, Interest and Tax Reclaims....................... 17,741 23,044 12,899 1,423 Securities Lending Income.................................. 453 276 274 376 Prepaid Expenses and Other Assets............................ -- 1 -- -- ----------- ---------- ---------- ---------- Total Assets............................................ 15,478,494 9,544,783 2,584,231 1,561,087 ----------- ---------- ---------- ---------- LIABILITIES: Payables: Upon Return of Securities Loaned........................... 521,769 726,706 300,421 290,552 Investment Securities Purchased............................ 115,461 23,813 1,806 4,809 Due to Advisor............................................. 1,223 1,472 193 106 Unrealized Loss on Foreign Currency Contracts................ -- 17 -- 14 Accrued Expenses and Other Liabilities....................... 1,053 645 187 108 ----------- ---------- ---------- ---------- Total Liabilities....................................... 639,506 752,653 302,607 295,589 ----------- ---------- ---------- ---------- NET ASSETS................................................... $14,838,988 $8,792,130 $2,281,624 $1,265,498 =========== ========== ========== ========== Investments at Cost.......................................... $ 9,455,514 $7,016,037 $2,058,019 $1,152,527 =========== ========== ========== ========== Foreign Currencies at Cost................................... $ -- $ 24,526 $ 2,026 $ 1,584 =========== ========== ========== ========== ---------- * See Note I in the Notes to Financial Statements for additional securities lending collateral. See accompanying Notes to Financial Statements. 275 THE DFA INVESTMENT TRUST COMPANY STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS) THE THE UNITED CONTINENTAL THE CANADIAN KINGDOM SMALL SMALL SMALL THE EMERGING COMPANY COMPANY COMPANY THE EMERGING MARKETS SMALL SERIES SERIES* SERIES* MARKETS SERIES* CAP SERIES* ------------- ----------- ------------ --------------- ------------- ASSETS: Investments at Value (including $28,773, $453,898, $261,509, $330,522 and $515,972 of securities on loan, respectively).............................. $1,978,589 $3,208,290 $738,814 $3,736,738 $4,056,525 Collateral Received from Securities on Loan at Value & Cost............................ 652 109 668 709 837 Collateral from Securities on Loan Invested in Affiliate at Value & Cost............... 30,000 491,000 219,000 244,000 493,000 Foreign Currencies at Value................. 4,022 4,466 3,066 7,576 13,653 Cash........................................ 233 1,415 1,203 26,299 18,595 Receivables: Investment Securities Sold................ 2,722 2,074 168 116 9,691 Dividends, Interest and Tax Reclaims...... 4,898 4,595 624 3,735 3,644 Securities Lending Income................. 23 653 272 382 1,580 ---------- ---------- -------- ---------- ---------- Total Assets........................... 2,021,139 3,712,602 963,815 4,019,555 4,597,525 ---------- ---------- -------- ---------- ---------- LIABILITIES: Payables: Upon Return of Securities Loaned.......... 30,652 491,109 219,668 244,709 493,837 Investment Securities Purchased........... 1,912 3,213 2,830 7,929 11,004 Due to Advisor............................ 165 268 62 315 685 Unrealized Loss on Foreign Currency Contracts.................................. -- 12 -- 76 19 Accrued Expenses and Other Liabilities...... 123 234 51 366 457 ---------- ---------- -------- ---------- ---------- Total Liabilities...................... 32,852 494,836 222,611 253,395 506,002 ---------- ---------- -------- ---------- ---------- NET ASSETS.................................. $1,988,287 $3,217,766 $741,204 $3,766,160 $4,091,523 ========== ========== ======== ========== ========== Investments at Cost......................... $1,325,480 $2,416,569 $813,274 $2,525,063 $3,594,395 ========== ========== ======== ========== ========== Foreign Currencies at Cost.................. $ 4,036 $ 4,499 $ 3,060 $ 7,593 $ 13,701 ========== ========== ======== ========== ========== ---------- * See Note I in the Notes to Financial Statements for additional securities lending collateral. See accompanying Notes to Financial Statements. 276 THE DFA INVESTMENT TRUST COMPANY STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS) THE JAPANESE THE ASIA THE U.S. THE DFA SMALL PACIFIC SMALL LARGE CAP INTERNATIONAL COMPANY COMPANY VALUE SERIES VALUE SERIES SERIES SERIES ------------ ------------- ------------ ------------- INVESTMENT INCOME Dividends (Net of Foreign Taxes Withheld of $42, $19,855, $3,149 and $1,656, respectively).......................... $ 262,650 $ 256,899 $ 37,753 $ 49,156 Interest................................................... 56 6 1 -- Income from Securities Lending............................. 2,227 13,232 3,109 4,274 ---------- ---------- -------- -------- Total Investment Income................................. 264,933 270,137 40,863 53,430 ---------- ---------- -------- -------- EXPENSES Investment Advisory Services Fees.......................... 12,720 15,819 2,039 1,121 Accounting & Transfer Agent Fees........................... 850 542 150 92 Custodian Fees............................................. 121 810 568 355 Shareholders' Reports...................................... 30 20 5 3 Directors'/Trustees' Fees & Expenses....................... 131 85 21 12 Professional Fees.......................................... 431 236 51 29 Other...................................................... 156 158 39 23 ---------- ---------- -------- -------- Total Expenses.......................................... 14,439 17,670 2,873 1,635 ---------- ---------- -------- -------- Fees Paid Indirectly....................................... -- (22) (6) (5) ---------- ---------- -------- -------- Net Expenses............................................... 14,439 17,648 2,867 1,630 ---------- ---------- -------- -------- NET INVESTMENT INCOME (LOSS)............................... 250,494 252,489 37,996 51,800 ---------- ---------- -------- -------- REALIZED AND UNREALIZED GAIN (LOSS) Net Realized Gain (Loss) on: Investment Securities Sold............................... 1,042,669 394,216 94,606 2,045 Futures.................................................. -- (1,587) -- -- Foreign Currency Transactions*........................... -- (2,158) (2,405) 32 Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency............... 2,531,751 1,329,657 403,911 64,761 Translation of Foreign Currency Denominated Amounts...... -- 544 393 (13) ---------- ---------- -------- -------- NET REALIZED AND UNREALIZED GAIN (LOSS).................... 3,574,420 1,720,672 496,505 66,825 ---------- ---------- -------- -------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS.................................................. $3,824,914 $1,973,161 $534,501 $118,625 ========== ========== ======== ======== ---------- * Net of foreign capital gain taxes withheld of $0, $3, $0 and $0, respectively. See accompanying Notes to Financial Statements. 277 THE DFA INVESTMENT TRUST COMPANY STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS) THE UNITED THE KINGDOM CONTINENTAL THE CANADIAN THE EMERGING SMALL SMALL SMALL THE EMERGING MARKETS COMPANY COMPANY COMPANY MARKETS SMALL CAP SERIES SERIES SERIES SERIES SERIES ---------- ----------- ------------ ------------ ------------ INVESTMENT INCOME Dividends (Net of Foreign Taxes Withheld of $121, $9,056, $2,937, $11,554 and $9,869, respectively)........................................ $ 56,947 $ 63,435 $18,004 $ 78,461 $ 81,658 Interest.............................................. -- 64 -- -- -- Income from Securities Lending........................ 354 10,444 3,280 3,929 16,799 -------- -------- ------- -------- -------- Total Investment Income............................ 57,301 73,943 21,284 82,390 98,457 -------- -------- ------- -------- -------- EXPENSES Investment Advisory Services Fees..................... 1,686 2,642 686 3,264 7,439 Accounting & Transfer Agent Fees...................... 125 191 57 236 264 Custodian Fees........................................ 131 636 97 1,359 2,675 Shareholders' Reports................................. 4 6 2 8 10 Directors'/Trustees' Fees & Expenses.................. 18 28 8 35 39 Professional Fees..................................... 42 75 18 115 190 Other................................................. 30 49 11 66 88 -------- -------- ------- -------- -------- Total Expenses..................................... 2,036 3,627 879 5,083 10,705 -------- -------- ------- -------- -------- Fees Paid Indirectly.................................. (1) (3) (2) (25) (34) -------- -------- ------- -------- -------- Net Expenses.......................................... 2,035 3,624 877 5,058 10,671 -------- -------- ------- -------- -------- NET INVESTMENT INCOME (LOSS).......................... 55,266 70,319 20,407 77,332 87,786 -------- -------- ------- -------- -------- REALIZED AND UNREALIZED GAIN (LOSS) Net Realized Gain (Loss) on: Investment Securities Sold.......................... 110,830 61,594 5,104 24,456 69,227 Futures............................................. -- -- -- -- 463 Foreign Currency Transactions*...................... 8 (97) (36) (130) (1,240) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.......... 377,497 843,629 14,601 145,893 144,458 Translation of Foreign Currency Denominated Amounts............................................ (22) 123 (11) (8) (41) -------- -------- ------- -------- -------- NET REALIZED AND UNREALIZED GAIN (LOSS)............... 488,313 905,249 19,658 170,211 212,867 -------- -------- ------- -------- -------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS........................................ $543,579 $975,568 $40,065 $247,543 $300,653 ======== ======== ======= ======== ======== ---------- * Net of foreign capital gain taxes withheld of $14, $14, $0, $0 and $1, respectively. See accompanying Notes to Financial Statements. 278 THE DFA INVESTMENT TRUST COMPANY STATEMENTS OF CHANGES IN NET ASSETS (AMOUNTS IN THOUSANDS) THE U.S. LARGE CAP VALUE THE DFA INTERNATIONAL THE JAPANESE SMALL SERIES VALUE SERIES COMPANY SERIES ------------------------ ----------------------- ---------------------- YEAR YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2013 2012 2013 2012 ----------- ----------- ----------- ---------- ---------- ---------- INCREASE (DECREASE) IN NET ASSETS Operations: Net Investment Income (Loss)........... $ 250,494 $ 212,847 $ 252,489 $ 260,321 $ 37,996 $ 35,567 Net Realized Gain (Loss) on: Investment Securities Sold........... 1,042,669 408,690 394,216 133,256 94,606 15,297 Futures.............................. -- -- (1,587) -- -- (283) Foreign Currency Transactions*....................... -- -- (2,158) (1,249) (2,405) 593 Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency............................ 2,531,751 1,049,282 1,329,657 (157,327) 403,911 (47,991) Translation of Foreign Currency Denominated Amounts................. -- -- 544 (266) 393 (76) ----------- ----------- ----------- ---------- ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations......................... 3,824,914 1,670,819 1,973,161 234,735 534,501 3,107 ----------- ----------- ----------- ---------- ---------- ---------- Transactions in Interest: Contributions.......................... 1,639,135 505,769 1,055,913 699,069 268,246 385,924 Withdrawals............................ (1,214,213) (922,543) (1,475,193) (651,462) (207,854) (205,115) ----------- ----------- ----------- ---------- ---------- ---------- Net Increase (Decrease) from Transactions in Interest........... 424,922 (416,774) (419,280) 47,607 60,392 180,809 ----------- ----------- ----------- ---------- ---------- ---------- Total Increase (Decrease) in Net Assets......................... 4,249,836 1,254,045 1,553,881 282,342 594,893 183,916 NET ASSETS Beginning of Year...................... 10,589,152 9,335,107 7,238,249 6,955,907 1,686,731 1,502,815 ----------- ----------- ----------- ---------- ---------- ---------- End of Year............................ $14,838,988 $10,589,152 $ 8,792,130 $7,238,249 $2,281,624 $1,686,731 =========== =========== =========== ========== ========== ========== ---------- * Net of foreign capital gain taxes withheld of $0, $0, $3, $0, $0 and $0, respectively. See accompanying Notes to Financial Statements. 279 THE DFA INVESTMENT TRUST COMPANY STATEMENTS OF CHANGES IN NET ASSETS (AMOUNTS IN THOUSANDS) THE ASIA PACIFIC SMALL THE UNITED KINGDOM SMALL THE CONTINENTAL SMALL COMPANY SERIES COMPANY SERIES COMPANY SERIES ---------------------- ---------------------- ---------------------- YEAR YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2013 2012 2013 2012 ---------- ---------- ---------- ---------- ---------- ---------- INCREASE (DECREASE) IN NET ASSETS Operations: Net Investment Income (Loss)............ $ 51,800 $ 39,082 $ 55,266 $ 41,958 $ 70,319 $ 62,863 Net Realized Gain (Loss) on: Investment Securities Sold............ 2,045 27,956 110,830 (16,423) 61,594 (4,064) Futures............................... -- (140) -- 236 -- 69 Foreign Currency Transactions*........ 32 (236) 8 339 (97) (359) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency............................. 64,761 3,183 377,497 247,250 843,629 694 Translation of Foreign Currency Denominated Amounts.................. (13) (94) (22) (35) 123 (285) ---------- ---------- ---------- ---------- ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations.......................... 118,625 69,751 543,579 273,325 975,568 58,918 ---------- ---------- ---------- ---------- ---------- ---------- Transactions in Interest: Contributions........................... 243,954 161,440 20,921 92,609 97,213 260,944 Withdrawals............................. (100,941) (134,065) (41,051) (34,941) (100,194) (76,446) ---------- ---------- ---------- ---------- ---------- ---------- Net Increase (Decrease) from Transactions in Interest............ 143,013 27,375 (20,130) 57,668 (2,981) 184,498 ---------- ---------- ---------- ---------- ---------- ---------- Total Increase (Decrease) in Net Assets.............................. 261,638 97,126 523,449 330,993 972,587 243,416 NET ASSETS Beginning of Year....................... 1,003,860 906,734 1,464,838 1,133,845 2,245,179 2,001,763 ---------- ---------- ---------- ---------- ---------- ---------- End of Year............................. $1,265,498 $1,003,860 $1,988,287 $1,464,838 $3,217,766 $2,245,179 ========== ========== ========== ========== ========== ========== ---------- * Net of foreign capital gain taxes withheld of $0, $0, $14, $0, $14 and $0, respectively. See accompanying Notes to Financial Statements. 280 THE DFA INVESTMENT TRUST COMPANY STATEMENTS OF CHANGES IN NET ASSETS (AMOUNTS IN THOUSANDS) THE CANADIAN SMALL THE EMERGING MARKETS THE EMERGING MARKETS COMPANY SERIES SERIES SMALL CAP SERIES ------------------ ---------------------- ---------------------- YEAR YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2013 2012 2013 2012 -------- -------- ---------- ---------- ---------- ---------- INCREASE (DECREASE) IN NET ASSETS Operations: Net Investment Income (Loss)................. $ 20,407 $ 16,111 $ 77,332 $ 67,879 $ 87,786 $ 58,512 Net Realized Gain (Loss) on: Investment Securities Sold................. 5,104 26,982 24,456 34,169 69,227 106,663 Futures.................................... -- -- -- -- 463 (389) Foreign Currency Transactions*............. (36) 111 (130) (571) (1,240) (1,553) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.................................. 14,601 (63,323) 145,893 24,259 144,458 6,038 Translation of Foreign Currency Denominated Amounts....................... (11) (7) (8) 20 (41) (15) -------- -------- ---------- ---------- ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations................ 40,065 (20,126) 247,543 125,756 300,653 169,256 -------- -------- ---------- ---------- ---------- ---------- Transactions in Interest: Contributions................................ 42,578 11,500 937,021 523,537 1,276,889 1,002,685 Withdrawals.................................. (30,525) (38,550) (331,711) (175,967) (439,369) (93,517) -------- -------- ---------- ---------- ---------- ---------- Net Increase (Decrease) from Transactions in Interest................. 12,053 (27,050) 605,310 347,570 837,520 909,168 -------- -------- ---------- ---------- ---------- ---------- Total Increase (Decrease) in Net Assets................................... 52,118 (47,176) 852,853 473,326 1,138,173 1,078,424 NET ASSETS Beginning of Year............................ 689,086 736,262 2,913,307 2,439,981 2,953,350 1,874,926 -------- -------- ---------- ---------- ---------- ---------- End of Year.................................. $741,204 $689,086 $3,766,160 $2,913,307 $4,091,523 $2,953,350 ======== ======== ========== ========== ========== ========== ---------- * Net of foreign capital gain taxes withheld of $0, $0, $0, $13, $1 and $87, respectively. See accompanying Notes to Financial Statements. 281 THE DFA INVESTMENT TRUST COMPANY FINANCIAL HIGHLIGHTS THE U.S. LARGE CAP VALUE SERIES ------------------------------------------------------------ YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 ------------------------------------------------------------------------------------------------------------------- Total Return......................................... 35.68% 18.31% 5.69% 19.96% 11.90% ------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).................. $14,838,988 $10,589,152 $9,335,107 $8,816,400 $7,508,400 Ratio of Expenses to Average Net Assets.............. 0.11% 0.12% 0.12% 0.12% 0.13% Ratio of Net Investment Income to Average Net Assets. 1.98% 2.15% 1.79% 2.02% 2.42% Portfolio Turnover Rate.............................. 15% 10% 14% 28% 29% ------------------------------------------------------------------------------------------------------------------- THE DFA INTERNATIONAL VALUE SERIES ----------------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 -------------------------------------------------------------------------------------------------------------------------- Total Return................................................. 28.18% 3.17% (8.04)% 11.13% 35.41% -------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $8,792,130 $7,238,249 $6,955,907 $6,919,633 $6,191,964 Ratio of Expenses to Average Net Assets...................... 0.22% 0.24% 0.23% 0.24% 0.24% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly)................................................. 0.22% 0.24% 0.23% 0.24% 0.24% Ratio of Net Investment Income to Average Net Assets......... 3.20% 3.75% 3.47% 2.55% 3.22% Portfolio Turnover Rate...................................... 15% 14% 9% 20% 18% -------------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 282 THE DFA INVESTMENT TRUST COMPANY FINANCIAL HIGHLIGHTS THE JAPANESE SMALL COMPANY SERIES ---------------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 ------------------------------------------------------------------------------------------------------------------------- Total Return................................................. 30.62% 0.54% 10.07% 0.72% 22.69% ------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $2,281,624 $1,686,731 $1,502,815 $1,211,600 $1,183,036 Ratio of Expenses to Average Net Assets...................... 0.14% 0.15% 0.14% 0.14% 0.15% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly)................................................. 0.14% 0.15% 0.14% 0.14% 0.15% Ratio of Net Investment Income to Average Net Assets......... 1.87% 2.17% 2.07% 1.95% 2.15% Portfolio Turnover Rate...................................... 16% 7% 5% 10% 7% ------------------------------------------------------------------------------------------------------------------------- THE ASIA PACIFIC SMALL COMPANY SERIES ----------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 -------------------------------------------------------------------------------------------------------------------- Total Return................................................. 10.97% 7.48% (5.15)% 28.91% 84.98% -------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $1,265,498 $1,003,860 $906,734 $935,138 $680,997 Ratio of Expenses to Average Net Assets...................... 0.15% 0.16% 0.16% 0.17% 0.18% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly)................................................. 0.15% 0.16% 0.16% 0.17% 0.18% Ratio of Net Investment Income to Average Net Assets......... 4.64% 4.26% 3.78% 3.64% 4.00% Portfolio Turnover Rate...................................... 9% 18% 17% 18% 23% -------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 283 THE DFA INVESTMENT TRUST COMPANY FINANCIAL HIGHLIGHTS THE UNITED KINGDOM SMALL COMPANY SERIES -------------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 ----------------------------------------------------------------------------------------------------------------------- Total Return................................................. 37.42% 23.41% 0.20% 25.94% 43.51% ----------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $1,988,287 $1,464,838 $1,133,845 $1,036,694 $770,472 Ratio of Expenses to Average Net Assets...................... 0.12% 0.13% 0.13% 0.13% 0.14% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly)................................................. 0.12% 0.13% 0.13% 0.13% 0.14% Ratio of Net Investment Income to Average Net Assets......... 3.29% 3.37% 3.76% 2.86% 4.02% Portfolio Turnover Rate...................................... 17% 6% 7% 15% 10% ----------------------------------------------------------------------------------------------------------------------- THE CONTINENTAL SMALL COMPANY SERIES ----------------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 -------------------------------------------------------------------------------------------------------------------------- Total Return................................................. 43.67% 2.29% (10.75)% 15.37% 43.78% -------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $3,217,766 $2,245,179 $2,001,763 $2,072,484 $1,630,892 Ratio of Expenses to Average Net Assets...................... 0.14% 0.16% 0.15% 0.15% 0.16% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly)................................................. 0.14% 0.16% 0.15% 0.15% 0.16% Ratio of Net Investment Income to Average Net Assets......... 2.67% 3.15% 2.72% 2.24% 2.93% Portfolio Turnover Rate...................................... 13% 9% 10% 12% 7% -------------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 284 THE DFA INVESTMENT TRUST COMPANY FINANCIAL HIGHLIGHTS THE CANADIAN SMALL COMPANY SERIES ------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 ---------------------------------------------------------------------------------------------------------------------------- Total Return............................................................. 5.71% (2.51)% 0.27% 43.17% 61.67% ---------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)...................................... $741,204 $689,086 $736,262 $663,722 $365,181 Ratio of Expenses to Average Net Assets.................................. 0.13% 0.15% 0.14% 0.15% 0.17% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly). 0.13% 0.15% 0.14% 0.15% 0.17% Ratio of Net Investment Income to Average Net Assets..................... 2.99% 2.29% 1.72% 1.05% 1.37% Portfolio Turnover Rate.................................................. 14% 22% 24% 10% 23% ---------------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. THE EMERGING MARKETS SERIES ----------------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 -------------------------------------------------------------------------------------------------------------------------- Total Return................................................. 6.99% 4.55% (6.44)% 27.04% 53.99% -------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $3,766,160 $2,913,307 $2,439,981 $2,529,493 $2,109,316 Ratio of Expenses to Average Net Assets...................... 0.16% 0.20% 0.20% 0.19% 0.20% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly)................................................. 0.16% 0.20% 0.20% 0.19% 0.20% Ratio of Net Investment Income to Average Net Assets......... 2.38% 2.55% 2.48% 2.18% 2.57% Portfolio Turnover Rate...................................... 4% 5% 16% 12% 14% -------------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 285 THE DFA INVESTMENT TRUST COMPANY FINANCIAL HIGHLIGHTS THE EMERGING MARKETS SMALL CAP SERIES ----------------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 -------------------------------------------------------------------------------------------------------------------------- Total Return................................................. 9.41% 7.19% (12.94)% 41.96% 92.08% -------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $4,091,523 $2,953,350 $1,874,926 $1,881,356 $1,167,973 Ratio of Expenses to Average Net Assets...................... 0.29% 0.36% 0.33% 0.32% 0.33% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly)................................................. 0.29% 0.36% 0.33% 0.32% 0.33% Ratio of Net Investment Income to Average Net Assets......... 2.37% 2.48% 2.32% 2.16% 2.52% Portfolio Turnover Rate...................................... 11% 13% 18% 15% 13% -------------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 286 THE DFA INVESTMENT TRUST COMPANY NOTES TO FINANCIAL STATEMENTS A. ORGANIZATION: The DFA Investment Trust Company (the "Trust") is an open-end management investment company registered under the Investment Company Act of 1940. The Trust consists of eleven portfolios, nine of which are included in this section of the report (collectively, the "Series"). The remaining operational portfolios are presented in separate reports. DOMESTIC EQUITY PORTFOLIO INTERNATIONAL EQUITY PORTFOLIOS ------------------------- ------------------------------- The U.S. Large Cap Value Series The DFA International Value Series The Japanese Small Company Series The Asia Pacific Small Company Series The United Kingdom Small Company Series The Continental Small Company Series The Canadian Small Company Series The Emerging Markets Series The Emerging Markets Small Cap Series B. SIGNIFICANT ACCOUNTING POLICIES: The following significant accounting policies are in conformity with accounting principles generally accepted in the United States of America. Such policies are consistently followed by the Trust in preparation of its financial statements. The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the fair value of investments, the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates and those differences could be material. 1. SECURITY VALUATION: The Series utilize a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels described below: . Level 1 - inputs are quoted prices in active markets for identical securities (including equity securities, open-end investment companies, futures contracts) . Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) . Level 3 - significant unobservable inputs (including the Series' own assumptions in determining the fair value of investments) Securities held by the Domestic Equity Portfolio and the International Equity Portfolios, including over-the-counter securities, are valued at the last quoted sale price at the close of the exchanges on which they are principally traded (official closing price). International equity securities are subject to a fair value factor, as described later in this note. Securities held by the Domestic Equity Portfolio and the International Equity Portfolios that are listed on Nasdaq are valued at the Nasdaq Official Closing Price ("NOCP"). If there is no last reported sale price or NOCP for the day, the Domestic Equity Portfolio and the International Equity Portfolios value the securities at the mean of the most recent quoted bid and asked prices which approximate fair value. Price information on listed securities is taken from the exchange where the security is primarily traded. Generally, securities issued by open-end investment companies are valued using their respective net asset values or public offering prices, as appropriate, for purchase orders placed at the close of the New York Stock Exchange (NYSE). These securities are generally categorized as Level 1 in the hierarchy. 287 Securities for which no market quotations are readily available (including restricted securities), or for which market quotations have become unreliable, are valued in good faith at fair value in accordance with procedures adopted by the Board of Directors/Trustees. Fair value pricing may also be used if events that have a significant effect on the value of an investment (as determined in the discretion of the Investment Committee of Dimensional Fund Advisors LP) occur before the net asset value is calculated. When fair value pricing is used, the prices of securities used by the Domestic Equity Portfolio and the International Equity Portfolios may differ from the quoted or published prices for the same securities on their primary markets or exchanges. These securities are generally categorized as Level 2 in the hierarchy. The International Equity Portfolios will also apply a fair value price in the circumstances described below. Generally, trading in foreign securities markets is completed each day at various times prior to the close of the NYSE. For example, trading in the Japanese securities markets is completed each day at the close of the Tokyo Stock Exchange (normally, 11:00 p.m. PT), which is fourteen hours prior to the close of the NYSE (normally, 1:00 p.m. PT) and the time that the net asset values of the International Equity Portfolios are computed. Due to the time differences between the closings of the relevant foreign securities exchanges and the time the International Equity Portfolios price their shares at the close of the NYSE, the International Equity Portfolios will fair value their foreign investments when it is determined that the market quotations for the foreign investments are either unreliable or not readily available. The fair value prices will attempt to reflect the impact of the U.S. financial markets' perceptions and trading activities on the International Equity Portfolios' foreign investments since the last closing prices of the foreign investments were calculated on their primary foreign securities markets or exchanges. For these purposes, the Board of Directors/Trustees of the International Equity Portfolios have determined that movements in relevant indices or other appropriate market indicators, after the close of the Tokyo Stock Exchange or the London Stock Exchange, demonstrate that market quotations may be unreliable. Fair valuation of portfolio securities may occur on a daily basis. The fair value pricing by the International Equity Portfolios utilizes data furnished by an independent pricing service (and that data draws upon, among other information, the market values of foreign investments). When an International Equity Portfolio uses fair value pricing, the values assigned to the International Equity Portfolio's foreign investments may not be the quoted or published prices of the investments on their primary markets or exchanges. These securities are generally categorized as Level 2 in the hierarchy. Futures contracts held by the Series are valued using the settlement price established each day on the exchange on which they are traded. These valuations are generally categorized as Level 1 in the hierarchy. A summary of the inputs used to value the Series' investments by each major security type, industry and/or country is disclosed previously in this note. Valuation hierarchy tables have been included at the end of the Summary Schedules of Portfolio Holdings. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment's valuation changes. The Series recognize transfers between the levels as of the end of the period. As of October 31, 2013, The Emerging Markets Series and The Emerging Markets Small Cap Series had significant transfers of securities with a total value of $306,665 and $469,527 (in thousands), respectively, that transferred from Level 1 to Level 2. At October 31, 2013, the fair market values of certain securities were adjusted due to developments which occurred between the time of the close of the foreign markets on which they trade and the close of business on the NYSE which resulted in their Level 2 classification. 2. FOREIGN CURRENCY TRANSLATION: Securities and other assets and liabilities of the International Equity Portfolios, whose values are initially expressed in foreign currencies are translated to U.S. dollars using the mean between the most recent bid and asked prices for the U.S. dollar as quoted by generally recognized reliable sources. Dividend and interest income and certain expenses are translated to U.S. dollars at the rate of exchange on their respective accrual dates. Receivables and payables denominated in foreign currencies are marked-to-market daily based on daily exchange rates and exchange gains or losses are realized upon ultimate receipt or disbursement. The International Equity Portfolios do not isolate the effect of fluctuations in foreign currency rates when determining the realized gain or loss upon the sale or maturity of foreign currency denominated debt obligations 288 pursuant to U.S. Federal income tax regulations; such amounts are categorized as foreign exchange gain or loss for income tax reporting purposes. Realized gains or losses on foreign currency transactions represent net foreign exchange gains or losses from the disposition of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between amounts of interest, dividends and any foreign withholding taxes recorded on the books of the International Equity Portfolios and the U.S. dollar equivalent amounts actually received or paid. 3. DEFERRED COMPENSATION PLAN: Each eligible Director/Trustee of the Trust may elect participation in The Fee Deferral Plan for Independent Directors and Trustees (the "Plan"). Under the Plan, effective January 1, 2002, such Directors/Trustees may defer payment of all or a portion of their total fees earned as a Director/Trustee. These deferred amounts may be treated as though such amounts had been invested in shares of the following funds: U.S. Large Cap Value Portfolio; U.S. Core Equity 1 Portfolio; U.S. Core Equity 2 Portfolio; U.S. Vector Equity Portfolio; U.S. Micro Cap Portfolio; DFA International Value Portfolio; International Core Equity Portfolio; Emerging Markets Portfolio; Emerging Markets Core Equity Portfolio; and/or DFA Two-Year Global Fixed Income Portfolio. Contributions made under the Plan and the change in unrealized appreciation (depreciation) and income are included in Directors'/Trustees' Fees & Expenses. Each Director/Trustee has the option to receive their distribution of proceeds in one of the following methods: lump sum; annual installments over a period of agreed upon years; or quarterly installments over a period of agreed upon years. Each Director/Trustee shall have the right in a notice of election (the "Notice") to defer the receipt of the Director's/Trustee's deferred compensation until a date specified by such Director/Trustee in the Notice, which date may not be sooner than the earlier of: (i) the first business day of January following the year in which such Director/Trustee ceases to be a member of the Board; and (ii) five years following the effective date of the Director's/Trustee's first deferral election. If a Director/Trustee who elects to defer fees fails to designate in the Notice a time or date as of which payment of the Director's/Trustee's deferred fee account shall commence, payment of such amount shall commence as of the first business day of January following the year in which the Director/Trustee ceases to be a member of the Board (unless the Director/Trustee files an amended Notice selecting a different distribution date). As of October 31, 2013, none of the Directors/Trustees have requested or received a distribution of proceeds of a deferred fee account. 4. OTHER: Security transactions are accounted for as of the trade date. Costs used in determining realized gains and losses on the sale of investment securities and foreign currency are on the basis of identified cost. Dividend income and distributions to shareholders are recorded on the ex-dividend date. Distributions received on securities that represent a return of capital or capital gains are recorded as a reduction of cost of investments or as a realized gain, respectively. The Series estimate the character of distributions received that may be considered return of capital distributions. Interest income is recorded on an accrual basis. Discount and premium on securities purchased are amortized over the lives of the respective securities, utilizing the effective interest method. Expenses directly attributable to a Series are directly charged. Common expenses of the Trust or Series are allocated using methods approved by the Board of Directors/Trustees, generally based on average net assets. The International Equity Portfolios may be subject to taxes imposed by countries in which they invest, with respect to their investments in issuers existing or operating in such countries. Such taxes are generally based on income earned or repatriated and capital gains realized on the sale of such investments. The Series accrue such taxes when the related income or capital gains are earned or throughout the holding period. Some countries require governmental approval for the repatriation of investment income, capital or the proceeds of sales earned by foreign investors. In addition, if there is a deterioration in a country's balance of payments or for other reasons, a country may impose temporary restrictions on foreign capital remittances abroad. The Emerging Markets Series and The Emerging Markets Small Cap Series are subject to a 15% tax on short-term capital gains for investments in India. Such taxes are due upon sale of individual securities. The capital gains taxes are recognized when the capital gains are earned. 289 C. INVESTMENT ADVISOR: The Advisor, Dimensional Fund Advisors LP, provides investment advisory services to the Trust. For the year ended October 31, 2013, the Series' investment advisory services fees were accrued daily and paid monthly to the Advisor based on the following effective annual rates of average daily net assets: The U.S. Large Cap Value Series......... 0.10% The DFA International Value Series...... 0.20% The Japanese Small Company Series....... 0.10% The Asia Pacific Small Company Series... 0.10% The United Kingdom Small Company Series. 0.10% The Continental Small Company Series.... 0.10% The Canadian Small Company Series....... 0.10% The Emerging Markets Series............. 0.10% The Emerging Markets Small Cap Series... 0.20% EARNED INCOME CREDIT: In addition, the Series have entered into arrangements with their custodian whereby net interest earned on uninvested cash balances was used to reduce a portion of each Series' custody expenses. Custody expense in the accompanying financial statements is presented before reduction for credits. During the year ended October 31, 2013, expenses reduced were as follows (amounts in thousands): FEES PAID INDIRECTLY ---------- The DFA International Value Series...... $22 The Japanese Small Company Series....... 6 The Asia Pacific Small Company Series... 5 The United Kingdom Small Company Series. 1 The Continental Small Company Series.... 3 The Canadian Small Company Series....... 2 The Emerging Markets Series............. 25 The Emerging Markets Small Cap Series... 34 FEES PAID TO OFFICERS AND DIRECTORS/TRUSTEES: Certain Officers and Directors/Trustees of the Advisor are also Officers and Directors/Trustees of the Trust; however, such Officers and Directors/Trustees (with the exception of the Chief Compliance Officer ("CCO")) receive no compensation from the Trust. For the year ended October 31, 2013, the total related amounts paid by the Trust to the CCO were $56 (in thousands). The total related amounts paid by each of the Series are included in Other Expenses on the Statement of Operations. D. DEFERRED COMPENSATION: At October 31, 2013, the total liability for deferred compensation to Directors/Trustees is included in Accrued Expenses and Other Liabilities on the Statement of Assets and Liabilities as follows (amounts in thousands): The U.S. Large Cap Value Series......... $336 The DFA International Value Series...... 249 The Japanese Small Company Series....... 55 The Asia Pacific Small Company Series... 28 The United Kingdom Small Company Series. 35 The Continental Small Company Series.... 67 The Canadian Small Company Series....... 17 The Emerging Markets Series............. 89 The Emerging Markets Small Cap Series... 60 290 E. PURCHASES AND SALES OF SECURITIES: For the year ended October 31, 2013, the Series made the following purchases and sales of investment securities, other than short-term securities and U.S. government securities (amounts in thousands): PURCHASES SALES ---------- ---------- The U.S. Large Cap Value Series......... $2,846,229 $1,917,181 The DFA International Value Series...... 1,195,737 1,352,756 The Japanese Small Company Series....... 424,423 328,727 The Asia Pacific Small Company Series... 292,353 101,862 The United Kingdom Small Company Series. 311,120 290,915 The Continental Small Company Series.... 402,109 337,539 The Canadian Small Company Series....... 137,097 94,187 The Emerging Markets Series............. 787,720 120,319 The Emerging Markets Small Cap Series... 1,300,754 398,830 There were no purchases or sales of long-term U.S. government securities. F. FEDERAL INCOME TAXES: No provision for federal income taxes is required since the Series are treated as partnerships for federal income tax purposes. Any net investment income and realized and unrealized gains and losses have been deemed to have been "passed down" to their respective partners. At October 31, 2013, the total cost and aggregate gross unrealized appreciation (depreciation) of securities for federal income tax purposes were different from amounts reported for financial reporting purposes (amounts in thousands): NET UNREALIZED FEDERAL UNREALIZED UNREALIZED APPRECIATION TAX COST APPRECIATION DEPRECIATION (DEPRECIATION) ----------- ------------ ------------ -------------- The U.S. Large Cap Value Series......... $10,087,540 $5,403,680 $ (57,424) $5,346,256 The DFA International Value Series...... 7,749,972 2,159,515 (437,185) 1,722,330 The Japanese Small Company Series....... 2,358,440 405,211 (228,601) 176,610 The Asia Pacific Small Company Series... 1,466,625 342,063 (259,002) 83,061 The United Kingdom Small Company Series. 1,376,431 714,857 (82,047) 632,810 The Continental Small Company Series.... 2,914,221 1,100,391 (315,213) 785,178 The Canadian Small Company Series....... 1,036,766 139,500 (217,785) (78,285) The Emerging Markets Series............. 2,779,497 1,353,861 (151,910) 1,201,951 The Emerging Markets Small Cap Series... 4,120,776 867,716 (438,130) 429,586 The difference between book basis and tax-basis unrealized appreciation (depreciation) is primarily attributable to the tax deferral of losses on wash sales and investments in passive foreign investment companies. Accounting for Uncertainty in Income Taxes sets forth a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. Management has analyzed each Series' tax positions and has concluded that no additional provision for income tax is required in any Series' financial statements. No Series is aware of any tax positions for which it is more likely than not that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. Each of the Series' federal tax returns for the prior three fiscal years remains subject to examination by the Internal Revenue Service. G. FINANCIAL INSTRUMENTS: In accordance with the Series' investment objectives and policies, the Series may invest in certain financial instruments that have off-balance sheet risk in excess of the amounts recognized in the financial statements and 291 concentrations of credit and market risk. These instruments and their significant corresponding risks are described below: 1. REPURCHASE AGREEMENTS: The Series may purchase certain U.S. Government securities subject to the counterparty's agreement to repurchase them at an agreed upon date and price. The counterparty will be required on a daily basis to maintain the value of the collateral subject to the agreement at not less than the repurchase price (including accrued interest). The agreements are conditioned upon the collateral being deposited under the Federal Reserve book-entry system with the Series' custodian or a third party sub-custodian. In the event of default or bankruptcy by the other party to the agreement, retention of the collateral may be subject to legal proceedings. 2. FOREIGN MARKET RISKS: Investments in foreign markets may involve certain considerations and risks not typically associated with investments in the United States of America, including the possibility of future political and economic developments and the level of foreign governmental supervision and regulation of foreign securities markets. These markets are generally smaller, less liquid and more volatile than the major securities markets in the United States of America. Consequently, acquisition and disposition of international securities held by the Series may be inhibited. DERIVATIVE FINANCIAL INSTRUMENTS: Summarized below are the specific types of derivative instruments used by the Series. 3. FUTURES CONTRACTS: The Series may enter into futures contracts to gain market exposure on uninvested cash pending investment in securities or to maintain liquidity to pay redemptions. Upon entering into a futures contract, the Series deposit cash or pledge U.S. Government securities to a broker, equal to the minimum "initial margin" requirements of the exchange on which the contract is traded. Subsequent payments are received from or paid to the broker each day, based on the daily fluctuation in the market value of the contract. These receipts or payments are known as "variation margin" and are recorded daily by the Series as unrealized gains or losses until the contracts are closed. When the contracts are closed, the Series record a realized gain or loss, which is presented in the Statements of Operations as a net realized gain or loss on futures, equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. Risks may arise upon entering into futures contracts from potential imperfect price correlations between the futures contracts and the underlying securities or indices, from the possibility of an illiquid secondary market for these instruments and from the possibility that the Series could lose more than the initial margin requirements. The Series entering into stock index futures are subject to equity price risk from those futures contracts. Counterparty credit risk related to exchange-traded futures is minimal because the exchange's clearinghouse, as counterparty to all exchange-traded futures, guarantees the futures against default. The following is a summary of the Series' location and value of derivative instrument holdings on the Series' Statements of Operations categorized by primary risk exposure for the year ended October 31, 2013 (amounts in thousands): DERIVATIVE TYPE LOCATION OF GAIN (LOSS) ON DERIVATIVES RECOGNIZED IN INCOME --------------- ----------------------------------------------------------- Equity contracts Net Realized Gain (Loss) on: Futures REALIZED GAIN (LOSS) ON DERIVATIVES RECOGNIZED IN INCOME -------------------------------- EQUITY CONTRACTS -------------------------------- The DFA International Value Series*.... $(1,587) The Emerging Markets Small Cap Series*. $ 463 * As of October 31, 2013, there were no futures contracts outstanding. During the year ended October 31, 2013, the Series had limited activity in futures contracts. 292 H. LINE OF CREDIT: The Trust, together with other Dimensional-advised portfolios, entered into a $250 million unsecured discretionary line of credit effective June 22, 2011 with The Bank of New York Mellon, which was terminated by The Bank of New York Mellon effective March 29, 2013. Prior to termination, each portfolio was permitted to borrow, subject to its investment limitations, up to a maximum of $250 million, as long as total borrowings under the line of credit did not exceed $250 million in the aggregate. Borrowings under the line of credit were charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio was individually, and not jointly, liable for its particular advances under the line of credit. There was no commitment fee on the unused portion of the line of credit. The Trust, together with other Dimensional-advised portfolios, has entered into a $500 million unsecured discretionary line of credit effective March 4, 2013 with its domestic custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. There is no commitment fee on the unused portion of the line of credit. The agreement for the discretionary line of credit may be terminated by either party at any time. The line of credit is scheduled to expire on March 3, 2014. The Trust, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit effective January 11, 2013 with its international custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. There is no commitment fee on the unused portion of the line of credit. The agreement for the line of credit expires on January 10, 2014. For the year ended October 31, 2013, borrowings by the Series under the lines of credit were as follows (amounts in thousands, except percentages and days): WEIGHTED WEIGHTED NUMBER OF INTEREST MAXIMUM AMOUNT AVERAGE AVERAGE DAYS EXPENSE BORROWED DURING INTEREST RATE LOAN BALANCE OUTSTANDING* INCURRED THE PERIOD ------------- ------------ ------------ -------- --------------- The U.S. Large Cap Value Series....... 0.89% $ 6,790 20 $ 4 $23,318 The DFA International Value Series.... 0.90% 12,445 46 14 76,121 The Japanese Small Company Series..... 0.88% 2,097 23 1 5,010 The Asia Pacific Small Company Series. 0.91% 614 5 -- 2,155 The United Kingdom Small Company Series.............................. 0.89% 224 4 -- 503 The Continental Small Company Series.. 0.85% 327 29 -- 1,226 The Emerging Markets Series........... 0.89% 7,962 36 7 31,246 The Emerging Markets Small Cap Series. 0.86% 21,200 23 12 65,040 * Number of Days Outstanding represents the total of single or consecutive days during the year ended October 31, 2013, that each Series' available line of credit was utilized. There were no outstanding borrowings by the Series under the lines of credit as of October 31, 2013. 293 I. SECURITIES LENDING: As of October 31, 2013, each Series had securities on loan to brokers/dealers, for which each such Series received cash collateral. In addition, the following Series received non-cash collateral consisting of short and/or long term U.S. Treasury securities (amounts in thousands): MARKET VALUE ------------ The DFA International Value Series.... $ 29,499 The Continental Small Company Series.. 447 The Canadian Small Company Series..... 55,991 The Emerging Markets Series........... 111,222 The Emerging Markets Small Cap Series. 102,610 Each Series invests the cash collateral, as described below, and records a liability for the return of the collateral, during the period the securities are on loan. Loans of securities are expected at all times to be secured by collateral equal to at least (i) 100% of the current market value of the loaned securities with respect to securities of the U.S. government or its agencies, (ii) 102% of the current market value of the loaned securities with respect to U.S. securities, and (iii) 105% of the current market value of the loaned securities with respect to foreign securities. However, daily market fluctuations could cause the Series' collateral to be lower or higher than the expected thresholds. If this were to occur, the collateral would be adjusted the next business day to ensure adequate collateralization. In the event of default or bankruptcy by the other party to the agreement, realization and/or retention of the collateral may be subject to legal proceedings. If the borrower fails to return loaned securities, and cash collateral being maintained by the borrower is insufficient to cover the value of loaned securities and provided such collateral insufficiency is not the result of investment losses, the lending agent has agreed to pay the amount of the shortfall to the Series or, at the option of the lending agent, to replace the securities. Subject to their stated investment policies, each Series will generally invest the cash collateral received for the loaned securities in The DFA Short Term Investment Fund (the "Money Market Series"), an affiliated registered money market fund advised by the Advisor for which the Advisor receives a management fee of 0.05% of the average daily net assets of the Money Market Series. Such Series also may invest the cash collateral received for the loaned securities in securities of the U.S. government or its agencies, repurchase agreements collateralized by securities of the U.S. government or its agencies, and affiliated and unaffiliated registered and unregistered money market funds. For purposes of this paragraph, agencies include both agency debentures and agency mortgage-backed securities. In addition, each Series will be able to terminate the loan at any time and will receive reasonable interest on the loan, as well as amounts equal to any dividends, interest or other distributions on the loaned securities. However, dividend income received from loaned securities may not be eligible to be taxed at qualified dividend income rates. J. INDEMNITEES; CONTRACTUAL OBLIGATIONS: Under the Trust's organizational documents, its officers and directors are indemnified against certain liabilities arising out of the performance of their duties to the Trust. In the normal course of business, the Trust enters into contracts that contain a variety of representations and warranties which provide general indemnification. The Trust's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust and/or its affiliates that have not yet occurred. However, based on experience, the Trust expects the risk of loss to be remote. K. RECENTLY ISSUED ACCOUNTING STANDARDS: In January 2013, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") No. 2013-01 "Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities" ("ASU 2013-01") which amended Accounting Standards Codification Subtopic 210-20, Balance Sheet Offsetting. ASU 2013-01 clarified the scope of ASU No. 2011-11 "Disclosures about Offsetting Assets and Liabilities" ("ASU 2011-11"). ASU 2011-11 requires an entity to disclose information about offsetting and related arrangements to enable users of that entity's financial statements to understand the effect of those arrangements on its financial position. ASU 2013-01 clarifies 294 the scope of ASU 2011-11 as applying to derivatives accounted for in accordance with Topic 815, Derivatives and Hedging, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are offset either in accordance with other requirements of GAAP or subject to an enforceable master netting arrangement or similar agreement. ASU No. 2011-11 is effective for annual periods beginning on or after January 1, 2013, and interim periods within those annual periods. Management is evaluating any impact ASU No. 2011-11 may have on the financial statements. L. OTHER: The Series are subject to claims and suits that arise from time to time in the ordinary course of business (for example, in The Tribune Company Bankruptcy, certain creditors have filed actions against all shareholders of The Tribune Company who tendered shares when the Tribune Company went private in 2007 in a leveraged buyout transaction, seeking the return of proceeds received by the shareholders). Although management currently believes that resolving claims against us, individually or in aggregate, will not have a material adverse impact on our financial position, our results of operations, or our cash flows, these matters are subject to inherent uncertainties and management's view of these matters may change in the future. On November 1, 2010 a class action complaint was filed in Bankruptcy Court in the bankruptcy case of The Tribune Company ("Tribune"). The defendants in this action include mutual funds, individuals, institutional investors and others who owned shares in Tribune at the time of the 2007 leveraged buyout transaction (the "LBO") and sold their shares for $34 per share in cash, such as The U.S. Large Cap Value Series. Thereafter, two additional and substantially similar class actions were filed and are pending in United States District Courts (with the Bankruptcy Court action, collectively referred to as the "Lawsuits"). The Lawsuits have been consolidated into a single Multidistrict Litigation action in federal court for pretrial proceedings. The Lawsuits seek to recover, for the benefit of Tribune's bankruptcy estate or various creditors, payments to shareholders in the LBO. The Lawsuits allege that Tribune's payment for those shares violated the rights of creditors, as set forth in the Bankruptcy Code's and various states' fraudulent transfer laws. However, the Lawsuits proceed on different legal theories: the Bankruptcy Court action pleads an intentionally fraudulent transfer; the District Court actions plead constructively fraudulent transfers. Litigation counsel to The U.S. Large Cap Value Series in the Lawsuits does not believe that it is possible, at this early stage in the proceedings, to predict with any reasonable certainty the probable outcome of the Lawsuits or quantify the ultimate exposure to The U.S. Large Cap Value Series arising from the Lawsuits. Until The U.S. Large Cap Value Series can do so, no reduction of the net asset value of The U.S. Large Cap Value Series will be made relating to the Lawsuits. However, even if the plaintiffs in the Lawsuits were to obtain the full recovery they seek, the amount would be less than 1% of The U.S. Large Cap Value Series' net asset value at this time. The U.S. Large Cap Value Series also cannot predict what its size might be at the time the cost of the Lawsuits might be quantifiable and thus potentially deducted from its net asset value. Therefore, at this time, those buying or redeeming shares of The U.S. Large Cap Value Series will pay or receive, as the case may be, a price based on net asset value of The U.S. Large Cap Value Series, with no adjustment relating to the Lawsuits. The attorneys' fees and costs relating to the Lawsuits will be taken as expenses by The U.S. Large Cap Value Series as incurred and in a manner similar to any other expense incurred by The U.S. Large Cap Value Series. M. SUBSEQUENT EVENT EVALUATIONS: Management has evaluated the impact of all subsequent events on the Series and has determined that there are no subsequent events requiring recognition or disclosure in the financial statements. 295 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM TO THE SHAREHOLDERS OF THE SERIES, AS DEFINED, AND BOARD OF TRUSTEES OF THE DFA INVESTMENT TRUST COMPANY: In our opinion, the accompanying statements of assets and liabilities, including the summary schedules of portfolio holdings, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of The U.S. Large Cap Value Series, The DFA International Value Series, The Japanese Small Company Series, The Asia Pacific Small Company Series, The United Kingdom Small Company Series, The Continental Small Company Series, The Canadian Small Company Series, The Emerging Markets Series, and The Emerging Markets Small Cap Series (constituting portfolios within The DFA Investment Trust Company, hereafter referred to as the "Series") at October 31, 2013, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period then ended and the financial highlights for each of the five years in the period then ended, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as "financial statements") are the responsibility of the Series' 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, 2013 by correspondence with the custodians, brokers, and the transfer agent of the investee fund, provide a reasonable basis for our opinion. PricewaterhouseCoopers LLP Philadelphia, Pennsylvania December 20, 2013 296 DIMENSIONAL EMERGING MARKETS VALUE FUND PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- DIMENSIONAL EMERGING MARKETS VALUE FUND VS. MSCI EMERGING MARKETS INDEX (NET DIVIDENDS) OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] The Dimensional Emerging MSCI Emerging Markets Markets Value Fund Index (net dividends) ------------------------- ------------------------ 10/31/2003 $10,000 $10,000 11/30/2003 10,114 10,122 12/31/2003 11,338 10,855 1/31/2004 11,647 11,234 2/29/2004 12,409 11,749 3/31/2004 12,564 11,896 4/30/2004 11,690 10,922 5/31/2004 11,343 10,704 6/30/2004 11,560 10,749 7/31/2004 11,705 10,552 8/31/2004 12,237 10,990 9/30/2004 13,042 11,624 10/31/2004 13,459 11,902 11/30/2004 14,914 13,004 12/31/2004 15,881 13,628 1/31/2005 16,148 13,663 2/28/2005 17,621 14,855 3/31/2005 16,341 13,873 4/30/2005 15,762 13,501 5/31/2005 16,001 13,971 6/30/2005 16,533 14,445 7/31/2005 17,734 15,455 8/31/2005 18,027 15,587 9/30/2005 19,478 17,039 10/31/2005 18,264 15,925 11/30/2005 19,620 17,243 12/31/2005 20,858 18,262 1/31/2006 22,860 20,301 2/28/2006 22,954 20,277 3/31/2006 23,740 20,456 4/30/2006 25,813 21,913 5/31/2006 23,029 19,617 6/30/2006 22,824 19,569 7/31/2006 23,374 19,849 8/31/2006 23,800 20,355 9/30/2006 24,292 20,524 10/31/2006 25,989 21,499 11/30/2006 27,895 23,097 12/31/2006 28,883 24,137 1/31/2007 29,338 23,877 2/28/2007 29,513 23,735 3/31/2007 31,059 24,680 4/30/2007 33,545 25,823 5/31/2007 36,106 27,102 6/30/2007 37,143 28,372 7/31/2007 38,915 29,869 8/31/2007 37,673 29,235 9/30/2007 41,074 32,463 10/31/2007 45,597 36,084 11/30/2007 42,288 33,526 12/31/2007 42,234 33,643 1/31/2008 38,047 29,445 2/29/2008 39,577 31,618 3/31/2008 38,255 29,945 4/30/2008 41,217 32,375 5/31/2008 41,586 32,976 6/30/2008 36,762 29,687 7/31/2008 36,051 28,567 8/31/2008 32,980 26,285 9/30/2008 27,293 21,685 10/31/2008 18,826 15,750 11/30/2008 17,405 14,565 12/31/2008 19,553 15,701 1/31/2009 17,796 14,687 2/28/2009 16,283 13,858 3/31/2009 19,110 15,850 4/30/2009 22,870 18,487 5/31/2009 28,031 21,646 6/30/2009 27,690 21,355 7/31/2009 31,417 23,756 8/31/2009 31,664 23,671 9/30/2009 34,596 25,820 10/31/2009 33,784 25,852 11/30/2009 35,950 26,962 12/31/2009 37,747 28,027 1/31/2010 35,610 26,464 2/28/2010 35,899 26,557 3/31/2010 39,063 28,701 4/30/2010 39,329 29,049 5/31/2010 35,226 26,494 6/30/2010 35,447 26,299 7/31/2010 38,745 28,489 8/31/2010 38,050 27,936 9/30/2010 42,635 31,040 10/31/2010 44,106 31,941 11/30/2010 42,694 31,098 12/31/2010 46,258 33,317 1/31/2011 44,816 32,413 2/28/2011 44,091 32,111 3/31/2011 46,635 33,999 4/30/2011 48,313 35,054 5/31/2011 46,487 34,134 6/30/2011 45,540 33,609 7/31/2011 45,178 33,460 8/31/2011 40,609 30,470 9/30/2011 33,333 26,027 10/31/2011 37,725 29,475 11/30/2011 35,825 27,511 12/31/2011 34,553 27,179 1/31/2012 39,359 30,262 2/29/2012 41,762 32,074 3/31/2012 39,980 31,004 4/30/2012 38,693 30,633 5/31/2012 34,420 27,198 6/30/2012 35,987 28,248 7/31/2012 35,773 28,799 8/31/2012 36,283 28,703 9/30/2012 38,627 30,435 10/31/2012 38,139 30,250 11/30/2012 38,575 30,634 12/31/2012 41,400 32,132 1/31/2013 42,080 32,575 2/28/2013 41,392 32,166 3/31/2013 41,052 31,612 4/30/2013 41,422 31,850 5/31/2013 40,254 31,033 6/30/2013 36,875 29,057 7/31/2013 37,607 29,361 Past performance is not predictive of 8/31/2013 36,823 28,856 future performance. 9/30/2013 39,551 30,733 10/31/2013 41,355 32,226 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE TEN redemption of fund shares. TOTAL RETURN YEAR YEARS YEARS --------------------------------------------------------- MSCI data copyright MSCI 2013, all 8.43% 17.05% 15.25% rights reserved. -------------------------------------------------------------------------------- 297 DIMENSIONAL EMERGING MARKETS VALUE FUND MANAGEMENT DISCUSSION AND ANALYSIS INTERNATIONAL EQUITY MARKET REVIEW 12 MONTHS ENDED OCTOBER 31, 2013 Gains in emerging markets were lower on average than in developed markets although results varied widely among the individual emerging markets countries. For the one-year period ended October 31, 2013, returns in U.S. dollars were 6.53% for the MSCI Emerging Markets Index (net dividends) versus 24.65% for the MSCI World ex USA Index (net dividends). As measured by the MSCI emerging markets indices, small cap stocks outperformed large cap stocks while growth stocks outperformed value stocks. 12 MONTHS ENDED OCTOBER 31, 2013 -------------------------------- U.S. DOLLAR RETURN - ------------------ MSCI Emerging Markets Index........... 6.53% MSCI Emerging Markets Small Cap Index. 10.29% MSCI Emerging Markets Value Index..... 3.88% MSCI Emerging Markets Growth Index.... 9.06% During the period, the U.S. dollar (USD) generally appreciated against most emerging markets currencies, except those in eastern Europe, decreasing USD denominated returns in emerging markets. 12 MONTHS ENDED OCTOBER 31, 2013 -------------------------------- TEN LARGEST EMERGING MARKETS BY MARKET CAP LOCAL CURRENCY RETURN U.S. DOLLAR RETURN ------------------------------------------ --------------------- ------------------ China........................ 9.32% 9.28% South Korea.................. 9.57% 12.65% Brazil....................... 7.85% -1.52% Taiwan....................... 18.76% 18.08% South Africa................. 20.85% 5.07% India........................ 14.98% 0.65% Russia....................... 12.94% 10.89% Mexico....................... 1.41% 2.11% Malaysia..................... 13.25% 9.32% Indonesia.................... 1.33% -13.66% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2013, all rights reserved. DIMENSIONAL EMERGING MARKETS VALUE FUND The Dimensional Emerging Markets Value Fund seeks to capture the returns of value stocks of large and small companies in selected emerging markets. Value is measured primarily by book-to-market ratio. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Fund held approximately 2,200 securities across 19 eligible emerging markets. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Master Fund's assets. For the 12 months ended October 31, 2013, total returns were 8.43% for the Fund and 6.53% for the MSCI Emerging Markets Index (net dividends). As a result of the Fund's diversified investment approach, performance was generally determined by broad structural trends in emerging markets rather than the behavior of a limited number of stocks. The Fund invests in stocks across all size categories while the Index primarily holds large cap and mid-cap stocks. Emerging markets small cap stocks generally outperformed emerging markets large cap stocks during the period. The Fund's greater exposure to small cap stocks was primarily responsible for the Fund's outperformance relative to the Index. The Fund's greater exposure to value stocks, as measured by book-to-market, was also beneficial as these stocks generally outperformed the Index. 298 DIMENSIONAL EMERGING MARKETS VALUE FUND DISCLOSURE OF FUND EXPENSES (UNAUDITED) The following Expense Tables are shown so that you can understand the impact of fees on your investment. All mutual funds have operating expenses. As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports, among others. Operating expenses, legal and audit services, which are deducted from a fund's gross income, directly reduce the investment return of the fund. A fund's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs, in dollars, of investing in the fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period. The Expense Tables below illustrate your fund's costs in two ways. ACTUAL FUND RETURN This section helps you to estimate the actual expenses after fee waivers that you paid over the period. The "Ending Account Value" shown is derived from the fund's actual return and "Expenses Paid During Period" reflect the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. To do so, simply divide your account value by $1,000 (for example, a $7,500 account value divided by $1,000 = 7.5), then multiply the result by the number given for your fund under the heading "Expenses Paid During Period." HYPOTHETICAL EXAMPLE FOR COMPARISON PURPOSES This section is intended to help you compare your fund's costs with those of other mutual funds. The hypothetical "Ending Account Value" and "Expenses Paid During Period" are derived from the fund's actual expense ratio and an assumed 5% annual return before expenses. In this case, because the return used is not the fund's actual return, the results do not apply to your investment. The example is useful in making comparisons because the SEC requires all mutual funds to calculate expenses based on a 5% annual return. You can assess your fund's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. Please note that the expenses shown in the tables are meant to highlight and help you compare ongoing costs only and do not reflect any transactional costs, if applicable. The "Annualized Expense Ratio" represents the actual expenses for the six-month period indicated. SIX MONTHS ENDED OCTOBER 31, 2013 EXPENSE TABLES BEGINNING ENDING EXPENSES ACCOUNT ACCOUNT ANNUALIZED PAID VALUE VALUE EXPENSE DURING 05/01/13 10/31/13 RATIO* PERIOD* --------- --------- ---------- -------- DIMENSIONAL EMERGING MARKETS VALUE FUND --------------------------------------- Actual Fund Return...................... $1,000.00 $ 998.40 0.13% $0.65 Hypothetical 5% Annual Return........... $1,000.00 $1,024.55 0.13% $0.66 ---------- * Expenses are equal to the fund's annualized expense ratio for the six-month period, multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period (184), then divided by the number of days in the year (365) to reflect the six-month period. 299 DIMENSIONAL EMERGING MARKETS VALUE FUND DISCLOSURE OF PORTFOLIO HOLDINGS (UNAUDITED) The SEC requires that all funds file a complete Schedule of Investments with the SEC for their first and third fiscal quarters on Form N-Q. For the Dimensional Emerging Markets Value Fund, this would be for the fiscal quarters ending January 31 and July 31. The Form N-Q filing must be made within 60 days of the end of the quarter. Dimensional Emerging Markets Value Fund filed its most recent Form N-Q with the SEC on September 27, 2013. It is available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room). SEC regulations permit a fund to include in its reports to shareholders a "Summary Schedule of Portfolio Holdings" in lieu of a full Schedule of Investments. The Summary Schedule of Portfolio Holdings reports the fund's 50 largest holdings in unaffiliated issuers and any investments that exceed one percent of the fund's net assets at the end of the reporting period. The amendments also require that the Summary Schedule of Portfolio Holdings identify each category of investments that are held. A fund is required to file a complete Schedule of Investments with the SEC on Form N-CSR within ten days after mailing the annual and semi-annual reports to shareholders. It will be available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room). PORTFOLIO HOLDINGS The SEC requires that all funds present their categories of portfolio holdings in a table, chart or graph format in their annual and semi-annual shareholder reports, whether or not a Schedule of Investments is utilized. The following table, which presents portfolio holdings as a percent of total investments before short-term investments and collateral for loaned securities, is provided in compliance with such requirement. The categories shown below represent broad industry sectors. Each industry sector consists of one or more specific industry classifications. DIMENSIONAL EMERGING MARKETS VALUE FUND Consumer Discretionary....................... 6.2% Consumer Staples............................. 4.9% Energy....................................... 17.2% Financials................................... 33.9% Health Care.................................. 0.4% Industrials.................................. 11.7% Information Technology....................... 7.2% Materials.................................... 15.0% Other........................................ -- Real Estate Investment Trusts................ 0.1% Telecommunication Services................... 1.4% Utilities.................................... 2.0% ----- 100.0% 300 DIMENSIONAL EMERGING MARKETS VALUE FUND SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- COMMON STOCKS -- (90.5%) BRAZIL -- (8.0%) Banco do Brasil SA.................................. 6,171,473 $ 81,690,539 0.4% # Banco Santander Brasil SA ADR....................... 18,012,780 124,828,565 0.6% BM&FBovespa SA...................................... 21,761,674 122,651,270 0.6% # Gerdau SA Sponsored ADR............................. 14,806,992 117,419,446 0.6% # Petroleo Brasileiro SA ADR.......................... 20,410,443 355,754,021 1.8% # Petroleo Brasileiro SA Sponsored ADR................ 22,111,474 401,544,368 2.1% Other Securities.................................... 465,245,129 2.5% -------------- ----- TOTAL BRAZIL............................................ 1,669,133,338 8.6% -------------- ----- CHILE -- (1.5%) Enersis SA Sponsored ADR............................ 5,622,312 92,768,148 0.5% Other Securities.................................... 211,091,146 1.1% -------------- ----- TOTAL CHILE............................................. 303,859,294 1.6% -------------- ----- CHINA -- (14.0%) Agricultural Bank of China, Ltd. Class H............ 255,464,000 123,106,826 0.7% Bank of China, Ltd. Class H......................... 989,630,331 465,927,610 2.4% Bank of Communications Co., Ltd. Class H............ 110,893,574 81,256,211 0.4% China Construction Bank Corp. Class H............... 281,910,940 219,334,202 1.1% China Petroleum & Chemical Corp. ADR................ 1,291,935 103,832,800 0.6% China Petroleum & Chemical Corp. Class H............ 212,971,575 172,402,097 0.9% # China Unicom Hong Kong, Ltd. ADR.................... 7,316,862 114,143,047 0.6% Industrial & Commercial Bank of China, Ltd. Class H. 148,536,996 103,936,545 0.6% Other Securities.................................... 1,521,553,477 7.7% -------------- ----- TOTAL CHINA............................................. 2,905,492,815 15.0% -------------- ----- COLOMBIA -- (0.1%) Other Securities.................................... 19,308,502 0.1% -------------- ----- CZECH REPUBLIC -- (0.1%) Other Securities.................................... 30,941,403 0.2% -------------- ----- HONG KONG -- (0.0%) Other Securities.................................... 26,658 0.0% -------------- ----- HUNGARY -- (0.5%) # OTP Bank P.L.C...................................... 3,936,697 81,667,483 0.4% Other Securities.................................... 12,457,748 0.1% -------------- ----- TOTAL HUNGARY........................................... 94,125,231 0.5% -------------- ----- INDIA -- (6.0%) ICICI Bank, Ltd. Sponsored ADR...................... 3,394,535 126,684,046 0.7% Reliance Industries, Ltd............................ 20,872,830 310,667,472 1.6% Other Securities.................................... 812,836,187 4.1% -------------- ----- TOTAL INDIA............................................. 1,250,187,705 6.4% -------------- ----- INDONESIA -- (2.3%) Other Securities.................................... 476,382,766 2.4% -------------- ----- ISRAEL -- (0.0%) Other Securities.................................... 296,602 0.0% -------------- ----- 301 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- MALAYSIA -- (3.6%) Other Securities.................................... $ 741,293,938 3.8% -------------- ----- MEXICO -- (6.1%) Alfa S.A.B. de C.V. Class A......................... 51,102,755 139,906,142 0.7% #* Cemex S.A.B. de C.V. Sponsored ADR.................. 16,838,196 178,148,109 0.9% Fomento Economico Mexicano S.A.B. de C.V. Sponsored ADR................................................ 2,494,369 232,724,627 1.2% Grupo Financiero Banorte S.A.B. de C.V.............. 23,160,991 148,261,585 0.8% Other Securities.................................... 574,307,739 2.9% -------------- ----- TOTAL MEXICO............................................ 1,273,348,202 6.5% -------------- ----- PHILIPPINES -- (1.0%) Other Securities.................................... 216,700,475 1.1% -------------- ----- POLAND -- (1.6%) PGE SA.............................................. 13,948,284 81,477,830 0.4% # Polski Koncern Naftowy Orlen SA..................... 6,239,721 88,026,919 0.5% Other Securities.................................... 157,488,252 0.8% -------------- ----- TOTAL POLAND............................................ 326,993,001 1.7% -------------- ----- RUSSIA -- (4.9%) Gazprom OAO Sponsored ADR........................... 106,937,161 999,584,526 5.1% Other Securities.................................... 21,297,582 0.1% -------------- ----- TOTAL RUSSIA............................................ 1,020,882,108 5.2% -------------- ----- SOUTH AFRICA -- (6.7%) # Barclays Africa Group, Ltd.......................... 6,124,179 94,589,135 0.5% # Nedbank Group, Ltd.................................. 3,713,947 80,747,979 0.4% Sanlam, Ltd......................................... 24,685,296 132,450,694 0.7% Standard Bank Group, Ltd............................ 18,943,972 241,007,060 1.2% #* Steinhoff International Holdings, Ltd............... 24,286,822 93,754,826 0.5% Other Securities.................................... 752,656,981 3.9% -------------- ----- TOTAL SOUTH AFRICA...................................... 1,395,206,675 7.2% -------------- ----- SOUTH KOREA -- (14.6%) Hana Financial Group, Inc........................... 4,078,729 156,836,439 0.8% # Hyundai Steel Co.................................... 1,197,245 98,578,876 0.5% KB Financial Group, Inc............................. 2,902,753 114,320,481 0.6% KB Financial Group, Inc. ADR........................ 3,182,416 123,509,565 0.7% # LG Electronics, Inc................................. 1,776,548 113,798,502 0.6% POSCO............................................... 681,110 203,339,180 1.1% # POSCO ADR........................................... 1,626,923 121,140,686 0.6% Samsung C&T Corp.................................... 1,386,322 82,261,509 0.4% # Samsung SDI Co., Ltd................................ 520,138 86,702,427 0.5% Shinhan Financial Group Co., Ltd.................... 5,415,719 236,144,882 1.2% SK Holdings Co., Ltd................................ 530,249 96,102,228 0.5% SK Innovation Co., Ltd.............................. 845,193 118,461,430 0.6% Other Securities.................................... 1,483,201,139 7.5% -------------- ----- TOTAL SOUTH KOREA....................................... 3,034,397,344 15.6% -------------- ----- TAIWAN -- (13.9%) Fubon Financial Holding Co., Ltd.................... 88,739,471 130,052,844 0.7% Mega Financial Holding Co., Ltd..................... 135,127,381 117,005,240 0.6% # United Microelectronics Corp........................ 218,090,681 92,516,948 0.5% Yuanta Financial Holding Co., Ltd................... 151,353,654 82,534,377 0.4% 302 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- TAIWAN -- (Continued) Other Securities........ $ 2,460,013,826 12.6% --------------- ----- TOTAL TAIWAN................ 2,882,123,235 14.8% --------------- ----- THAILAND -- (3.1%) PTT Global Chemical PCL. 32,067,141 80,876,163 0.4% PTT PCL................. 10,844,100 110,444,328 0.6% Other Securities........ 460,615,908 2.4% --------------- ----- TOTAL THAILAND.............. 651,936,399 3.4% --------------- ----- TURKEY -- (2.5%) Turkiye Is Bankasi...... 36,884,191 100,763,267 0.5% Other Securities........ 418,780,142 2.2% --------------- ----- TOTAL TURKEY................ 519,543,409 2.7% --------------- ----- TOTAL COMMON STOCKS......... 18,812,179,100 96.8% --------------- ----- PREFERRED STOCKS -- (2.2%) BRAZIL -- (2.1%) Petroleo Brasileiro SA.. 24,521,904 222,343,011 1.2% Other Securities........ 221,166,672 1.1% --------------- ----- TOTAL BRAZIL................ 443,509,683 2.3% --------------- ----- COLOMBIA -- (0.1%) Other Securities........ 15,140,331 0.1% --------------- ----- TOTAL PREFERRED STOCKS...... 458,650,014 2.4% --------------- ----- RIGHTS/WARRANTS -- (0.0%) CHILE -- (0.0%) Other Securities........ 100 0.0% --------------- ----- MALAYSIA -- (0.0%) Other Securities........ 385,124 0.0% --------------- ----- POLAND -- (0.0%) Other Securities........ -- 0.0% --------------- ----- SOUTH KOREA -- (0.0%) Other Securities........ 22,204 0.0% --------------- ----- THAILAND -- (0.0%) Other Securities........ 57,286 0.0% --------------- ----- TOTAL RIGHTS/WARRANTS....... 464,714 0.0% --------------- ----- 303 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES/ FACE PERCENTAGE AMOUNT VALUE+ OF NET ASSETS** ------- ------ --------------- (000) SECURITIES LENDING COLLATERAL -- (7.3%) (S)@ DFA Short Term Investment Fund.............................. 129,904,927 $ 1,503,000,000 7.7% @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $12,056,798 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $10,903,189) to be repurchased at $10,689,437................................. $ 10,689 10,689,401 0.1% --------------- ------ TOTAL SECURITIES LENDING COLLATERAL............................... 1,513,689,401 7.8% --------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $20,304,856,701)........................................ $20,784,983,229 107.0% =============== ====== Summary of the Fund's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ------------------------------------------------------ LEVEL 1 LEVEL 2 LEVEL 3 TOTAL -------------- --------------- ------- --------------- Common Stocks Brazil...................... $1,073,840,952 $ 595,292,386 -- $ 1,669,133,338 Chile....................... 99,110,686 204,748,608 -- 303,859,294 China....................... 236,947,644 2,668,545,171 -- 2,905,492,815 Colombia.................... 19,308,502 -- -- 19,308,502 Czech Republic.............. -- 30,941,403 -- 30,941,403 Hong Kong................... -- 26,658 -- 26,658 Hungary..................... -- 94,125,231 -- 94,125,231 India....................... 146,609,452 1,103,578,253 -- 1,250,187,705 Indonesia................... 6,187,469 470,195,297 -- 476,382,766 Israel...................... 20,113 276,489 -- 296,602 Malaysia.................... -- 741,293,938 -- 741,293,938 Mexico...................... 1,272,993,390 354,812 -- 1,273,348,202 Philippines................. -- 216,700,475 -- 216,700,475 Poland...................... 119,863 326,873,138 -- 326,993,001 Russia...................... 814,231 1,020,067,877 -- 1,020,882,108 South Africa................ 170,364,260 1,224,842,415 -- 1,395,206,675 South Korea................. 362,529,229 2,671,868,115 -- 3,034,397,344 Taiwan...................... 38,733,186 2,843,390,049 -- 2,882,123,235 Thailand.................... 651,936,399 -- -- 651,936,399 Turkey...................... -- 519,543,409 -- 519,543,409 Preferred Stocks Brazil...................... -- 443,509,683 -- 443,509,683 Colombia.................... 15,140,331 -- -- 15,140,331 Rights/Warrants Chile....................... -- 100 -- 100 Malaysia.................... -- 385,124 -- 385,124 Poland...................... -- -- -- -- South Korea................. -- 22,204 -- 22,204 Thailand.................... -- 57,286 -- 57,286 Securities Lending Collateral. -- 1,513,689,401 -- 1,513,689,401 -------------- --------------- -- --------------- TOTAL......................... $4,094,655,707 $16,690,327,522 -- $20,784,983,229 ============== =============== == =============== See accompanying Notes to Financial Statements. 304 DIMENSIONAL EMERGING MARKETS VALUE FUND STATEMENT OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS) ASSETS: Investments at Value (including $1,645,822 of securities on loan)*....... $19,271,294 Collateral Received from Securities on Loan at Value & Cost.............. 10,689 Collateral from Securities on Loan Invested in Affiliate at Value & Cost. 1,503,000 Foreign Currencies at Value.............................................. 58,647 Cash..................................................................... 90,464 Receivables: Investment Securities Sold............................................. 28,594 Dividends, Interest and Tax Reclaims................................... 6,129 Securities Lending Income.............................................. 1,920 ----------- Total Assets........................................................ 20,970,737 ----------- LIABILITIES: Payables: Upon Return of Securities Loaned....................................... 1,513,689 Investment Securities Purchased........................................ 26,347 Due to Advisor......................................................... 1,628 Unrealized Loss on Foreign Currency Contracts............................ 64 Accrued Expenses and Other Liabilities................................... 1,723 ----------- Total Liabilities................................................... 1,543,451 ----------- NET ASSETS............................................................... $19,427,286 =========== Investments at Cost...................................................... $18,791,168 =========== Foreign Currencies at Cost............................................... $ 58,852 =========== ---------- * See Note H in the Notes to Financial Statements for additional securities lending collateral. See accompanying Notes to Financial Statements. 305 DIMENSIONAL EMERGING MARKETS VALUE FUND STATEMENT OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS) INVESTMENT INCOME Dividends (Net of Foreign Taxes Withheld of $65,796).......... $ 421,959 Interest...................................................... 15 Income from Securities Lending................................ 25,619 ---------- Total Investment Income.................................... 447,593 ---------- EXPENSES Investment Advisory Services Fees............................. 18,145 Accounting & Transfer Agent Fees.............................. 1,269 Custodian Fees................................................ 7,431 Shareholders' Reports......................................... 48 Directors'/Trustees' Fees & Expenses.......................... 198 Professional Fees............................................. 741 Other......................................................... 465 ---------- Total Expenses............................................. 28,297 ---------- Fees Paid Indirectly.......................................... (111) ---------- Net Expenses.................................................. 28,186 ---------- NET INVESTMENT INCOME (LOSS).................................. 419,407 ---------- REALIZED AND UNREALIZED GAIN (LOSS) Net Realized Gain (Loss) on:.................................. Investment Securities Sold.................................. 304,248 Foreign Currency Transactions............................... (2,833) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.................. 724,674 Translation of Foreign Currency Denominated Amounts......... 7 ---------- NET REALIZED AND UNREALIZED GAIN (LOSS)....................... 1,026,096 ---------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS. $1,445,503 ========== See accompanying Notes to Financial Statements. 306 DIMENSIONAL EMERGING MARKETS VALUE FUND STATEMENTS OF CHANGES IN NET ASSETS (AMOUNTS IN THOUSANDS) YEAR YEAR ENDED ENDED OCT. 31, OCT. 31, 2013 2012 ----------- ----------- INCREASE (DECREASE) IN NET ASSETS Operations: Net Investment Income (Loss).............................................. $ 419,407 $ 375,228 Net Realized Gain (Loss) on: Investment Securities Sold.............................................. 304,248 398,744 Futures................................................................. -- (1,269) Foreign Currency Transactions*.......................................... (2,833) (4,761) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.............................. 724,674 (574,018) Translation of Foreign Currency Denominated Amounts..................... 7 (185) ----------- ----------- Net Increase (Decrease) in Net Assets Resulting from Operations...... 1,445,503 193,739 ----------- ----------- Transactions in Interest: Contributions............................................................. 2,894,722 3,560,477 Withdrawals............................................................... (1,797,261) (873,473) ----------- ----------- Net Increase (Decrease) from Transactions in Interest.................. 1,097,461 2,687,004 ----------- ----------- Total Increase (Decrease) in Net Assets................................ 2,542,964 2,880,743 NET ASSETS Beginning of Year......................................................... 16,884,322 14,003,579 ----------- ----------- End of Year............................................................... $19,427,286 $16,884,322 =========== =========== ---------- * Net of foreign capital gain taxes withheld of $0 and $314, respectively. See accompanying Notes to Financial Statements. 307 DIMENSIONAL EMERGING MARKETS VALUE FUND+ FINANCIAL HIGHLIGHTS DIMENSIONAL EMERGING MARKETS VALUE FUND --------------------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 ------------------------------------------------------------------------------------------------------------------------- Total Return............................................ 8.43% 1.10% (14.47)% 30.55% 79.39% ------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)..................... $19,427,286 $16,884,322 $14,003,579 $11,917,955 $7,965,125 Ratio of Expenses to Average Net Assets................. 0.16% 0.20% 0.20% 0.19% 0.21% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly)....................................... 0.16% 0.20% 0.20% 0.19% 0.21% Ratio of Net Investment Income to Average Net Assets.... 2.32% 2.43% 2.29% 1.81% 2.17% Portfolio Turnover Rate................................. 6% 8% 5% 15% 20% ------------------------------------------------------------------------------------------------------------------------- + See Note A in the Notes to Financial Statements. See accompanying Notes to Financial Statements. 308 DIMENSIONAL EMERGING MARKETS VALUE FUND NOTES TO FINANCIAL STATEMENTS A. ORGANIZATION: Dimensional Emerging Markets Value Fund Inc. ("DEM I") was organized as a closed-end management investment company registered under the Investment Company Act of 1940, as amended. Effective November 21, 1997, DEM I was reorganized as an open-end management investment company. On October 27, 2009, the Board of Directors and shareholders of DEM I approved an Agreement and Plan of Reorganization that provided for the reorganization of DEM I from a Maryland corporation to a Delaware statutory trust. Effective October 30, 2009, DEM I transferred all of its assets and liabilities to Dimensional Emerging Markets Value Fund ("DEM II" or the "Fund"), a Delaware statutory trust, in a tax-free exchange under Internal Revenue Code (the "IRC") (S)368(a)(1)(F). Effective November 1, 2009, the Fund, a master fund in a master-feeder structure, elected with the consent of its holder(s) to change its U.S. federal income tax classification from that of an association taxable as a corporation to a partnership pursuant to Treasury Regulation (S)301.7701-3. The change in capital structure and retroactive reclassification of the statement of changes in net assets and financial highlights for the Fund is a result of the treatment of a partnership for book purposes. The Fund will maintain its books and records and present its financial statements in accordance with generally accepted accounting principles for investment partnerships. B. SIGNIFICANT ACCOUNTING POLICIES: The following significant accounting policies are in conformity with accounting principles generally accepted in the United States of America. Such policies are consistently followed by the Fund in preparation of its financial statements. The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the fair value of investments, the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates and those differences could be material. 1. SECURITY VALUATION: The Fund utilizes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels described below: . Level 1 - inputs are quoted prices in active markets for identical securities (including equity securities, open-end investment companies, futures contracts) . Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) . Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments) Securities held by the Fund, including over-the-counter securities, are valued at the last quoted sale price at the close of the exchanges on which they are principally traded (official closing price). International equity securities are subject to a fair value factor, as described later in this note. Securities held by the Fund that are listed on Nasdaq are valued at the Nasdaq Official Closing Price ("NOCP"). If there is no last reported sale price or NOCP for the day, the Fund values the securities at the mean of the most recent quoted bid and asked prices which approximate fair value. Price information on listed securities is taken from the exchange where the security is primarily traded. Generally, securities issued by open-end investment companies are valued using their respective net asset values or public offering prices, as appropriate, for purchase orders placed at the close of the New York Stock Exchange (NYSE). These securities are generally categorized as Level 1 in the hierarchy. Securities for which no market quotations are readily available (including restricted securities), or for which market quotations have become unreliable, are valued in good faith at fair value in accordance with procedures adopted by the Board of Directors/Trustees. Fair value pricing may also be used if events that have a significant 309 effect on the value of an investment (as determined in the discretion of the Investment Committee of Dimensional Fund Advisors LP) occur before the net asset value is calculated. When fair value pricing is used, the prices of securities used by the Fund may differ from the quoted or published prices for the same securities on their primary markets or exchanges. These securities are generally categorized as Level 2 in the hierarchy. The Fund will also apply a fair value price in the circumstances described below. Generally, trading in foreign securities markets is completed each day at various times prior to the close of the NYSE. For example, trading in the Japanese securities markets is completed each day at the close of the Tokyo Stock Exchange (normally, 11:00 p.m. PT), which is fourteen hours prior to the close of the NYSE (normally, 1:00 p.m. PT) and the time that the net asset value of the Fund is computed. Due to the time differences between the closings of the relevant foreign securities exchanges and the time the Fund prices its shares at the close of the NYSE, the Fund will fair value its foreign investments when it is determined that the market quotations for the foreign investments are either unreliable or not readily available. The fair value prices will attempt to reflect the impact of the U.S. financial markets' perceptions and trading activities on the Fund's foreign investments since the last closing prices of the foreign investments were calculated on their primary foreign securities markets or exchanges. For these purposes, the Board of Directors/Trustees of the Fund have determined that movements in relevant indices or other appropriate market indicators, after the close of the Tokyo Stock Exchange or the London Stock Exchange, demonstrate that market quotations may be unreliable. Fair valuation of portfolio securities may occur on a daily basis. The fair value pricing by the Fund utilizes data furnished by an independent pricing service (and that data draws upon, among other information, the market values of foreign investments). When the Fund uses fair value pricing, the values assigned to the foreign investments may not be the quoted or published prices of the investments on their primary markets or exchanges. These securities are generally categorized as Level 2 in the hierarchy. A summary of the inputs used to value the Fund's investments by each major security type, industry and/or country is disclosed previously in this note. A valuation hierarchy table has been included at the end of the Summary Schedule of Portfolio Holdings. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment's valuation changes. The Fund recognizes transfers between the levels as of the end of the period. As of October 31, 2013, the Fund had significant transfers of securities with a total value of $1,222,930 (in thousands) that transferred from Level 1 to Level 2. At October 31, 2013, the fair market value of certain securities were adjusted due to developments which occurred between the time of the close of the foreign markets on which they trade and the close of business on the NYSE which resulted in their Level 2 classification. 2. FOREIGN CURRENCY TRANSLATION: Securities and other assets and liabilities of the Fund whose values are initially expressed in foreign currencies are translated to U.S. dollars using the mean between the most recent bid and asked prices for the U.S. dollar as quoted by generally recognized reliable sources. Dividend and interest income and certain expenses are translated to U.S. dollars at the rate of exchange on their respective accrual dates. Receivables and payables denominated in foreign currencies are marked-to-market daily based on daily exchange rates and exchange gains or losses are realized upon ultimate receipt or disbursement. The Fund does not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of securities whether realized or unrealized. Realized gains or losses on foreign currency transactions represent net foreign exchange gains or losses from the disposition of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between amounts of interest, dividends and any foreign withholding taxes recorded on the books of the Fund and the U.S. dollar equivalent amounts actually received or paid. 3. DEFERRED COMPENSATION PLAN: Each eligible Director/Trustee of the Fund may elect participation in The Fee Deferral Plan for Independent Directors and Trustees (the "Plan"). Under the Plan, effective January 1, 2002, such Directors/Trustees may defer payment of all or a portion of their total fees earned as a Director/Trustee. These deferred amounts may be treated as though such amounts had been invested in shares of the following funds: U.S. Large Cap Value Portfolio; U.S. Core Equity 1 Portfolio; U.S. Core Equity 2 Portfolio; U.S. Vector Equity Portfolio; U.S. Micro Cap Portfolio; DFA International Value Portfolio; International Core Equity Portfolio; Emerging 310 Markets Portfolio; Emerging Markets Core Equity Portfolio; and/or DFA Two-Year Global Fixed Income Portfolio. Contributions made under the Plan and the change in unrealized appreciation (depreciation) and income are included in Directors'/Trustees' Fees & Expenses. At October 31, 2013, the total liability for deferred compensation to Directors is included in Accrued Expenses and Other Liabilities on the Statement of Assets and Liabilities in the amount of $369 (in thousands). Each Director/Trustee has the option to receive their distribution of proceeds in one of the following methods: lump sum; annual installments over a period of agreed upon years; or quarterly installments over a period of agreed upon years. Each Director/Trustee shall have the right in a notice of election (the "Notice") to defer the receipt of the Director's/Trustee's deferred compensation until a date specified by such Director/Trustee in the Notice, which date may not be sooner than the earlier of: (i) the first business day of January following the year in which such Director/Trustee ceases to be a member of the Board; and (ii) five years following the effective date of the Director's/Trustee's first deferral election. If a Director/Trustee who elects to defer fees fails to designate in the Notice a time or date as of which payment of the Director's/Trustee's deferred fee account shall commence, payment of such amount shall commence as of the first business day of January following the year in which the Director/Trustee ceases to be a member of the Board (unless the Director/Trustee files an amended Notice selecting a different distribution date). As of October 31, 2013, none of the Directors/Trustees have requested or received a distribution of proceeds of a deferred fee account. 4. OTHER: Security transactions are accounted for as of the trade date. Costs used in determining realized gains and losses on the sale of investment securities and foreign currency are on the basis of identified cost. Dividend income and distributions to shareholders are recorded on the ex-dividend date. Distributions received on securities that represent a return of capital or capital gains are recorded as a reduction of cost of investments or as a realized gain, respectively. The Fund estimates the character of distributions received that may be considered return of capital distributions. Interest income is recorded on an accrual basis. Expenses directly attributable to the Fund are directly charged. The Fund may be subject to taxes imposed by countries in which it invests, with respect to its investments in issuers existing or operating in such countries. Such taxes are generally based on income earned or repatriated and capital gains realized on the sale of such investments. The Fund accrues such taxes when the related income or capital gains are earned or throughout the holding period. Some countries require governmental approval for the repatriation of investment income, capital or the proceeds of sales earned by foreign investors. In addition, if there is a deterioration in a country's balance of payments or for other reasons, a country may impose temporary restrictions on foreign capital remittances abroad. The Fund's investments in Chile are subject to governmental taxes on investment income. Such taxes are due when currencies are repatriated from the country. The Fund accrues for taxes on income as the income is earned. The Fund is subject to a 15% tax on short-term capital gains for investments in India. Such taxes are due upon sale of individual securities. The capital gains taxes are recognized when the capital gains are earned. C. INVESTMENT ADVISOR: The Advisor, Dimensional Fund Advisors LP, provides investment advisory services to the Fund. For the year ended October 31, 2013, the Fund's investment advisory services fees were accrued daily and paid monthly to the Advisor based on an effective annual rate of 0.10% of average daily net assets. EARNED INCOME CREDIT: In addition, the Fund has entered into an arrangement with its custodian whereby net interest earned on uninvested cash balances was used to reduce a portion of the Fund's custody expense. Custody expense in the accompanying financial statements is presented before reduction for credits. During the year ended October 31, 2013, expenses reduced were $111 (amount in thousands). FEES PAID TO OFFICERS AND DIRECTORS/TRUSTEES: Certain Officers and Directors/Trustees of the Advisor are also Officers and Directors/Trustees of the Fund; however, such Officers and Directors/Trustees (with the exception of the Chief Compliance Officer ("CCO")) 311 receive no compensation from the Fund. For the year ended October 31, 2013, the total related amounts paid by the Fund to the CCO were $27 (in thousands). The total related amounts paid by the Fund are included in Other Expenses on the Statement of Operations. D. PURCHASES AND SALES OF SECURITIES: For the year ended October 31, 2013, the Fund made the following purchases and sales of investment securities, other than short-term securities and U.S. government securities (amounts in thousands): PURCHASES SALES ---------- ---------- Dimensional Emerging Markets Value Fund. $2,746,457 $1,070,905 There were no purchases or sales of long-term U.S. government securities. E. FEDERAL INCOME TAXES: No provision for federal income taxes is required since the Fund is treated as a partnership for federal income tax purposes. Any net investment income and realized and unrealized gains and losses have been deemed to have been "passed down" to their respective partners. At October 31, 2013, the total cost and aggregate gross unrealized appreciation (depreciation) of securities for federal income tax purposes were different from amounts reported for financial reporting purposes (amounts in thousands): NET UNREALIZED FEDERAL UNREALIZED UNREALIZED APPRECIATION TAX COST APPRECIATION DEPRECIATION (DEPRECIATION) ----------- ------------ ------------ -------------- Dimensional Emerging Markets Value Fund. $20,422,709 $3,294,843 $(2,932,568) $362,275 The difference between book basis and tax-basis unrealized appreciation (depreciation) is primarily attributable to the tax deferral of losses on wash sales and investments in passive foreign investment companies. Accounting for Uncertainty in Income Taxes sets forth a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. Management has analyzed the Fund's tax positions and has concluded that no additional provision for income tax is required in the Fund's financial statements. The Fund is not aware of any tax positions for which it is more likely than not that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. The Fund's federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service. F. FINANCIAL INSTRUMENTS: In accordance with the Fund's investment objective and policies, the Fund may invest in certain financial instruments that have off-balance sheet risk in excess of the amounts recognized in the financial statements and concentrations of credit and market risk. These instruments and their significant corresponding risks are described below: 1. REPURCHASE AGREEMENTS: The Fund may purchase certain U.S. Government securities subject to the counterparty's agreement to repurchase them at an agreed upon date and price. The counterparty will be required on a daily basis to maintain the value of the collateral subject to the agreement at not less than the repurchase price (including accrued interest). The agreements are conditioned upon the collateral being deposited under the Federal Reserve book-entry system with the Fund's custodian or a third party sub-custodian. In the event of default or bankruptcy by the other party to the agreement, retention of the collateral may be subject to legal proceedings. 2. FOREIGN MARKET RISKS: Investments in foreign markets may involve certain considerations and risks not typically associated with investments in the United States of America, including the possibility of future political and economic developments and the level of foreign governmental supervision and regulation of foreign securities 312 markets. These markets are generally smaller, less liquid and more volatile than the major securities markets in the United States of America. Consequently, acquisition and disposition of securities held by the Fund may be inhibited. G. LINE OF CREDIT: The Fund, together with other Dimensional-advised portfolios, entered into a $250 million unsecured discretionary line of credit effective June 22, 2011 with The Bank of New York Mellon, which was terminated by The Bank of New York Mellon effective March 29, 2013. Prior to termination, each portfolio was permitted to borrow, subject to its investment limitations, up to a maximum of $250 million, as long as total borrowings under the line of credit did not exceed $250 million in the aggregate. Borrowings under the line of credit were charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio was individually, and not jointly, liable for its particular advances under the line of credit. There was no commitment fee on the unused portion of the line of credit. The Fund, together with other Dimensional-advised portfolios, has entered into a $500 million unsecured discretionary line of credit effective March 4, 2013 with its domestic custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. There is no commitment fee on the unused portion of the line of credit. The agreement for the discretionary line of credit may be terminated by either party at any time. The line of credit is scheduled to expire on March 3, 2014. The Fund, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit effective January 11, 2013 with its international custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. There is no commitment fee on the unused portion of the line of credit. The agreement for the line of credit expires on January 10, 2014. For the year ended October 31, 2013, borrowings by the Fund under the lines of credit were as follows (amounts in thousands, except percentages and days): WEIGHTED WEIGHTED NUMBER OF INTEREST MAXIMUM AMOUNT AVERAGE AVERAGE LOAN DAYS EXPENSE BORROWED DURING INTEREST RATE BALANCE OUTSTANDING* INCURRED THE PERIOD ------------- ------------ ------------ -------- --------------- Dimensional Emerging Markets Value Fund. 0.86% $36,348 19 $17 $86,942 * Number of Days Outstanding represents the total of single or consecutive days during the year ended October 31, 2013, that the Fund's available line of credit was utilized. There were no outstanding borrowings by the Fund under the lines of credit as of October 31, 2013. H. SECURITIES LENDING: As of October 31, 2013, the Fund had securities on loan to brokers/dealers, for which the Fund received cash collateral. In addition, the Fund received non-cash collateral consisting of short and/or long term U.S. Treasury securities with a market value of $284,247 (in thousands). The Fund invests the cash collateral, as described below, and records a liability for the return of the collateral, during the period the securities are on loan. Loans of securities are expected at all times to be secured by collateral equal to at least (i) 100% of the current market value of the loaned securities with respect to securities of the U.S. government or its agencies, (ii) 102% of the current market value of the loaned securities with respect to U.S. securities, and (iii) 105% of the current market value of the loaned securities with respect to foreign securities. However, daily market fluctuations could cause the Fund's collateral to be lower or higher than the expected thresholds. If this were to occur, the collateral would be adjusted 313 the next business day to ensure adequate collateralization. In the event of default or bankruptcy by the other party to the agreement, realization and/or retention of the collateral may be subject to legal proceedings. If the borrower fails to return loaned securities, and cash collateral being maintained by the borrower is insufficient to cover the value of loaned securities and provided such collateral insufficiency is not the result of investment losses, the lending agent has agreed to pay the amount of the shortfall to the Fund or, at the option of the lending agent, to replace the securities. Subject to its stated investment policy, the Fund will generally invest the cash collateral received for the loaned securities in The DFA Short Term Investment Fund (the "Money Market Series"), an affiliated registered money market fund advised by the Advisor for which the Advisor receives a management fee of 0.05% of the average daily net assets of the Money Market Series. The Fund also may invest the cash collateral received for the loaned securities in securities of the U.S. government or its agencies, repurchase agreements collateralized by securities of the U.S. government or its agencies, and affiliated and unaffiliated registered and unregistered money market funds. For purposes of this paragraph, agencies include both agency debentures and agency mortgage-backed securities. In addition, the Fund will be able to terminate the loan at any time and will receive reasonable interest on the loan, as well as amounts equal to any dividends, interest or other distributions on the loaned securities. However, dividend income received from loaned securities may not be eligible to be taxed at qualified dividend income rates. I. INDEMNITEES; CONTRACTUAL OBLIGATIONS: Under the Fund's organizational documents, its officers and directors are indemnified against certain liabilities arising out of the performance of their duties to the Fund. In the normal course of business, the Fund enters into contracts that contain a variety of representations and warranties which provide general indemnification. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund and/or its affiliates that have not yet occurred. However, based on experience, the Fund expects the risk of loss to be remote. J. RECENTLY ISSUED ACCOUNTING STANDARDS: In January 2013, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") No. 2013-01 "Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities" ("ASU 2013-01") which amended Accounting Standards Codification Subtopic 210-20, Balance Sheet Offsetting. ASU 2013-01 clarified the scope of ASU No. 2011-11 "Disclosures about Offsetting Assets and Liabilities" ("ASU 2011-11"). ASU 2011-11 requires an entity to disclose information about offsetting and related arrangements to enable users of that entity's financial statements to understand the effect of those arrangements on its financial position. ASU 2013-01 clarifies the scope of ASU 2011-11 as applying to derivatives accounted for in accordance with Topic 815, Derivatives and Hedging, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are offset either in accordance with other requirements of GAAP or subject to an enforceable master netting arrangement or similar agreement. ASU No. 2011-11 is effective for annual periods beginning on or after January 1, 2013, and interim periods within those annual periods. Management is evaluating any impact ASU No. 2011-11 may have on the financial statements. K. SUBSEQUENT EVENT EVALUATIONS: Management has evaluated the impact of all subsequent events on the Fund and has determined that there are no subsequent events requiring recognition or disclosure in the financial statements. 314 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM TO THE SHAREHOLDERS AND BOARD OF DIRECTORS OF DIMENSIONAL EMERGING MARKETS VALUE FUND: In our opinion, the accompanying statement of assets and liabilities, including the summary schedule of portfolio holdings, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of Dimensional Emerging Markets Value Fund (the "Fund") at October 31, 2013, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended and the financial highlights for each of the five years in the period then ended, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as "financial statements") are the responsibility of the Fund's management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of securities at October 31, 2013 by correspondence with the custodian, brokers, and the transfer agent of the investee fund provide a reasonable basis for our opinion. PricewaterhouseCoopers LLP Philadelphia, Pennsylvania December 20, 2013 315 FUND MANAGEMENT (UNAUDITED) TRUSTEES/DIRECTORS Each Board of Trustees/Directors (each, the "Board" and collectively, the "Boards") of The DFA Investment Trust Company ("DFAITC"), DFA Investment Dimensions Group Inc. ("DFAIDG"), Dimensional Investment Group Inc. ("DIG") and Dimensional Emerging Markets Value Fund ("DEM") (each, the "Fund" and collectively, the "Funds") is responsible for establishing the Funds' policies and for overseeing the management of the Funds. The Trustees/Directors of the Funds, including all of the disinterested Trustees/Directors, have adopted written procedures to monitor potential conflicts of interest that might develop between portfolios of the Funds (the "Feeder Portfolios") that invest in certain series of DFAITC or DEM (the "Master Funds"). Each Board has three standing committees, an Audit Committee, a Nominating Committee, and an Investment Review Committee (the "Review Committee"). The Audit Committee is comprised of George M. Constantinides, Roger G. Ibbotson and Abbie J. Smith. Each member of the Audit Committee is a disinterested Trustee/Director. The Audit Committee oversees the Fund's accounting and financial reporting policies and practices, the Fund's internal controls, the Fund's financial statements and the independent audits thereof and performs other oversight functions as requested by the Board. The Audit Committee recommends the appointment of each Fund's independent registered certified public accounting firm and also acts as a liaison between the Fund's independent registered certified public accounting firm and the full Board. There were two Audit Committee meetings held during the fiscal year ended October 31, 2013. Each Board's Nominating Committee is comprised of George M. Constantinides, John P. Gould, Roger G. Ibbotson, Myron S. Scholes, Edward P. Lazear and Abbie J. Smith. Each member of the Nominating Committee is a disinterested Trustee/Director. The Nominating Committee for each Board makes recommendations for nominations of disinterested and interested members on the Board to the full Board. The Nominating Committee evaluates a candidate's qualification for Board membership and the independence of such candidate from the Advisor and other principal service providers. There was one Nominating Committee meeting held during the fiscal year ended October 31, 2013. Each Board's Review Committee consists of both interested and disinterested Trustees/Directors. The Review Committee is comprised of John P. Gould, Edward P. Lazear, Myron S. Scholes and Eduardo A. Repetto. The Review Committee assists the Board in carrying out its fiduciary duties with respect to the oversight of the Fund and its performance. At the request of the Board or the Advisor, the Review Committee may (i) review the design of possible new series of the Fund, (ii) review performance of existing portfolios of the Fund and discuss and recommend possible enhancements to the portfolios' investment strategies, (iii) review proposals by the Advisor to modify or enhance the investment strategies or policies of each portfolio, and (iv) consider issues relating to investment services for each portfolio of the Fund. The Review Committee was formed on December 17, 2010, and there were two Review Committee meetings held during the fiscal year ended October 31, 2013. Certain biographical information for each disinterested Trustee/Director and each interested Trustee/Director of the Funds is set forth in the tables below, including a description of each Trustee/Director's experience as a Trustee/ Director of the Funds and as a director or trustee of other funds, as well as other recent professional experience. The statements of additional information (together, "SAI") of the Funds include additional information about each Trustee/Director. You may obtain copies of the SAI and prospectus of each Fund advised by Dimensional Fund Advisors LP by calling collect (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746. Prospectuses are also available at www.dimensional.com. 316 NAME, POSITION PORTFOLIOS WITHIN THE PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS WITH THE FUND, TERM OF OFFICE/1/ AND DFA FUND COMPLEX/2/ AND OTHER DIRECTORSHIPS OF PUBLIC COMPANIES ADDRESS AND YEAR OF BIRTH LENGTH OF SERVICE OVERSEEN HELD ---------------------------------------------------------------------------------------------------------------------------- DISINTERESTED TRUSTEES/DIRECTORS ---------------------------------------------------------------------------------------------------------------------------- George M. Constantinides Since Inception 106 portfolios in 4 Leo Melamed Professor of Finance, The Director of DFAIDG and DIG. investment companies University of Chicago Booth School of Business. Trustee of DFAITC and DEM. The University of Chicago Booth School of Business 5807 S. Woodlawn Avenue Chicago, IL 60637 1947 ---------------------------------------------------------------------------------------------------------------------------- John P. Gould Since Inception 106 portfolios in 4 Steven G. Rothmeier Distinguished Service Director of DFAIDG and DIG. investment companies Professor of Economics, The University of Trustee of DFAITC and DEM. Chicago Booth School of Business (since 1965). The University of Chicago Member and Chair, Competitive Markets Advisory Booth School of Business Committee, Chicago Mercantile Exchange 5807 S. Woodlawn Avenue (futures trading exchange) (since 2004). Chicago, IL 60637 Formerly, Director of UNext, Inc. (1999-2006). 1939 Trustee, Harbor Fund (registered investment company) (30 Portfolios) (since 1994). Formerly, Member of the Board of Milwaukee Mutual Insurance Company (1997-2010). ---------------------------------------------------------------------------------------------------------------------------- Roger G. Ibbotson Since Inception 106 portfolios in 4 Professor in Practice of Finance, Yale School of Director of DFAIDG and DIG. investment companies Management (since 1984). Chairman, CIO and Trustee of DFAITC and DEM. Partner, Zebra Capital Management, LLC (hedge Yale School of Management fund manager) (since 2001). Consultant to P.O. Box 208200 Morningstar, Inc. (since 2006). Formerly, New Haven, CT 06520-8200 Chairman, Ibbotson Associates, Inc., Chicago, IL 1943 (software data publishing and consulting) (1977- 2006). Formerly, Director, BIRR Portfolio Analysis, Inc. (software products) (1990-2010). ---------------------------------------------------------------------------------------------------------------------------- Edward P. Lazear Since Inception 106 portfolios in 4 Morris Arnold Cox Senior Fellow, Hoover Director of DFAIDG and DIG. investment companies Institution (since 2002). Jack Steele Parker Trustee of DFAITC and DEM. Professor of Human Resources Management Stanford University and Economics, Graduate School of Business, Graduate School of Business Stanford University (since 1995). Cornerstone 518 Memorial Way Stanford, Research (expert testimony and economic and CA 94305-5015 financial analysis) (since 2009). Formerly, 1948 Chairman of the President George W. Bush's Council of Economic Advisers (2006-2009). Formerly, Council of Economic Advisors, State of California (2005-2006). Formerly, Commissioner, White House Panel on Tax Reform (2005). ---------------------------------------------------------------------------------------------------------------------------- Myron S. Scholes Since Inception 106 portfolios in 4 Frank E. Buck Professor Emeritus of Finance, Director of DFAIDG and DIG. investment companies Stanford University (since 1981). Formerly, Trustee of DFAITC and DEM. Chairman, Platinum Grove Asset Management, c/o Dimensional Fund L.P. (hedge fund) (formerly, Oak Hill Platinum Advisors, LP Partners) (1999-2009). Formerly, Managing 6300 Bee Cave Road Partner, Oak Hill Capital Management (private Building 1 equity firm) (until 2004). Director, American Austin, TX 78746 Century Fund Complex (registered investment 1941 companies) (40 Portfolios) (since 1980). Formerly, Director, Chicago Mercantile Exchange (2001-2008). ---------------------------------------------------------------------------------------------------------------------------- Abbie J. Smith Since Inception 106 portfolios in 4 Boris and Irene Stern Distinguished Service Director of DFAIDG and DIG. investment companies Professor of Accounting, The University of Trustee of DFAITC and DEM. Chicago Booth School of Business (since 1980). The University of Chicago Co-Director Investment Research, Fundamental Booth School of Business Investment Advisors (hedge fund) (since 2008). 5807 S. Woodlawn Avenue Director, HNI Corporation (formerly known as Chicago, IL 60637 HON Industries Inc.) (office furniture) (since 1953 2000). Director, Ryder System Inc. (transportation, logistics and supply-chain management) (since 2003). Trustee, UBS Funds (4 investment companies within the fund complex) (52 portfolios) (since 2009). ---------------------------------------------------------------------------------------------------------------------------- 317 NAME, POSITION PORTFOLIOS WITHIN THE WITH THE FUND, TERM OF OFFICE/1/ AND DFA FUND COMPLEX/2/ PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS AND ADDRESS AND YEAR OF BIRTH LENGTH OF SERVICE OVERSEEN OTHER DIRECTORSHIPS OF PUBLIC COMPANIES HELD ------------------------------------------------------------------------------------------------------------------------------- INTERESTED TRUSTEES/DIRECTORS* ------------------------------------------------------------------------------------------------------------------------------- David G. Booth Since Inception 106 portfolios in 4 Chairman, Director/Trustee, President, and Co-Chief Chairman, Director, investment companies Executive Officer (since January 2010) of Co-Chief Executive Dimensional Holdings Inc., Dimensional Fund Officer and President of Advisors LP, DFA Securities LLC, DEM, DFAIDG, DFAIDG and DIG. DIG and DFAITC. Director of Dimensional Fund Chairman, Trustee, Advisors Ltd., Dimensional Funds PLC, Dimensional Co-Chief Executive Funds II PLC, DFA Australia Limited, Dimensional Officer and President of Cayman Commodity Fund I Ltd., Dimensional Japan DFAITC and DEM. Ltd. and Dimensional Advisors Ltd. Chairman, 6300 Bee Cave Road, Director and Co-Chief Executive Officer of Building One Austin, Dimensional Fund Advisors Canada ULC. President, Texas 78746 Dimensional SmartNest (US) LLC. Limited Partner, 1946 Oak Hill Partners (since 2001) and VSC Investors, LLC (since 2007). Trustee, The University of Chicago. Trustee, University of Kansas Endowment Association. Formerly, Chief Executive Officer (until 2010) and Chief Investment Officer (2003-2007) of Dimensional Fund Advisors LP, DFA Securities LLC, DEM, DFAIDG, DIG , DFAITC, Dimensional Holdings Inc. Formerly, Chief Investment Officer of Dimensional Fund Advisors Ltd. Formerly, President and Chief Investment Officer of DFA Australia Limited. Formerly, Director, SA Funds (registered investment company). ------------------------------------------------------------------------------------------------------------------------------- Eduardo A. Repetto Since 2009 106 portfolios in 4 Co-Chief Executive Officer (since January 2010), Director, Co-Chief investment companies Chief Investment Officer (since March 2007) and Executive Officer and Director/Trustee of Dimensional Holdings Inc., Chief Investment Officer Dimensional Fund Advisors LP, DFA Securities LLC, of DFAIDG and DIG. DEM, DFAIDG, DIG, DFAITC and Dimensional Trustee, Co-Chief Cayman Commodity Fund I Ltd. Director, Co-Chief Executive Officer and Executive Officer, President and Chief Investment Chief Investment Officer Officer of Dimensional Fund Advisors Canada ULC. of DFAITC and DEM. Chief Investment Officer, Vice President and Director 6300 Bee Cave Road, of DFA Australia Limited. Director of Dimensional Building One Fund Advisors Ltd., Dimensional Funds PLC, Austin, TX 78746 Dimensional Funds II PLC, Dimensional Japan Ltd. 1967 and Dimensional Advisors Ltd., Formerly President of Dimensional Holdings Inc, Dimensional Fund Advisors LP, DFA Securities LLC, DEM, DFAIDG, DIG, DFAITC and Dimensional Fund Advisors Canada ULC. /1/ Each Trustee/Director holds office for an indefinite term until his or her successor is elected and qualified. /2/ Each Trustee/Director is a director or trustee of each of the four registered investment companies within the DFA Fund Complex, which includes the Funds. * Interested Trustees/Directors are described as such because they are deemed to be "interested persons," as that term is defined under the Investment Company Act of 1940, as amended, due to their positions with Dimensional Fund Advisors LP. 318 OFFICERS The name, year of birth, information regarding positions with the Funds and the principal occupation for each officer of the Funds are set forth below. Each officer listed below holds the same office (except as otherwise noted) in the following entities: Dimensional Fund Advisors LP (prior to November 3, 2006, Dimensional Fund Advisors Inc.) ("Dimensional"), Dimensional Holdings Inc., DFA Securities LLC (prior to April 6, 2009, DFA Securities Inc.), DFAIDG, DIG, DFAITC and DEM (collectively, the "DFA Entities"). The address of each officer is: Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, unless otherwise indicated. TERM OF OFFICE/1/ NAME, POSITION WITH THE FUND AND LENGTH OF AND YEAR OF BIRTH SERVICE PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS --------------------------------------------------------------------------------------------------------------------- OFFICERS --------------------------------------------------------------------------------------------------------------------- April A. Aandal Since 2008 Vice President of all the DFA Entities. Vice President 1963 --------------------------------------------------------------------------------------------------------------------- Robyn G. Alcorta Since 2012 Vice President of all the DFA Entities. Formerly, Vice President Vice President Business Development at Capson Physicians Insurance Company 1974 (2010-2012); Vice President at Charles Schwab (2007-2010). --------------------------------------------------------------------------------------------------------------------- Darryl D. Avery Since 2005 Vice President of all the DFA Entities. Vice President 1966 --------------------------------------------------------------------------------------------------------------------- Arthur H. Barlow Since 1993 Vice President of all the DFA Entities. Director and Managing Vice President Director of DFAL (since September 2013). 1955 --------------------------------------------------------------------------------------------------------------------- Scott A. Bosworth Since 2007 Vice President of all the DFA Entities. Vice President 1968 --------------------------------------------------------------------------------------------------------------------- Valerie A. Brown Since 2001 Vice President and Assistant Secretary of all the DFA Entities, DFA Vice President and Assistant Australia Limited, Dimensional Fund Advisors Ltd., Dimensional Secretary Cayman Commodity Fund I Ltd., Dimensional Fund Advisors Pte. 1967 Ltd., Dimensional Hong Kong Limited. Director, Vice President and Assistant Secretary of Dimensional Fund Advisors Canada ULC. --------------------------------------------------------------------------------------------------------------------- David P. Butler Since 2007 Vice President of all the DFA Entities. Head of Global Financial Vice President Services of Dimensional (since 2008). 1964 --------------------------------------------------------------------------------------------------------------------- Douglas M. Byrkit Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (December 2010-January2012); Regional Director 1970 at Russell Investments (April 2006-December 2010). --------------------------------------------------------------------------------------------------------------------- James G. Charles Since 2011 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (2008-2010); Vice President, Client Portfolio 1956 Manager at American Century Investments (2001-2008). --------------------------------------------------------------------------------------------------------------------- Joseph H. Chi Since 2009 Vice President of all the DFA Entities. Co-Head of Portfolio Vice President Management of Dimensional (since March 2012). Sr. Portfolio 1966 Manager of Dimensional (since January 2012). Formerly, Portfolio Manager for Dimensional (October 2005-January 2012). --------------------------------------------------------------------------------------------------------------------- Stephen A. Clark Since 2004 Vice President of all the DFA Entities, DFA Australia Limited and Vice President Dimensional Fund Advisors Canada ULC. Head of Institutional, 1972 North America (since March 2012). Formerly, Head of Portfolio Management of Dimensional (January 2006-March 2012). --------------------------------------------------------------------------------------------------------------------- Matt B. Cobb Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since September 2011). Formerly, Vice President at 1971 MullinTBG 92005-2011). --------------------------------------------------------------------------------------------------------------------- Ryan Cooper Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since 2003). 1979 --------------------------------------------------------------------------------------------------------------------- 319 TERM OF OFFICE/1/ NAME, POSITION WITH THE FUND AND LENGTH OF AND YEAR OF BIRTH SERVICE PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS ------------------------------------------------------------------------------------------------------------------------ Jeffrey D. Cornell Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (August 2002-January 2012). 1976 ------------------------------------------------------------------------------------------------------------------------ Robert P. Cornell Since 2007 Vice President of all the DFA Entities. Vice President 1949 ------------------------------------------------------------------------------------------------------------------------ George H. Crane Since 2010 Vice President of all the DFA Entities. Formerly, Senior Vice Vice President President and Managing Director at State Street Bank & Trust 1955 Company (2007-2008). ------------------------------------------------------------------------------------------------------------------------ Christopher S. Crossan Since 2004 Vice President and Global Chief Compliance Officer of all the DFA Vice President and Global Chief Entities, DFA Australia Limited, Dimensional Fund Advisors Ltd., Compliance Officer and Dimensional SmartNest (US) LLC. Chief Compliance Officer of 1965 Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------------ James L. Davis Since 1999 Vice President of all the DFA Entities. Vice President 1956 ------------------------------------------------------------------------------------------------------------------------ Robert T. Deere Since 1994 Vice President of all the DFA Entities, DFA Australia Limited and Vice President Dimensional Fund Advisors Canada ULC. 1957 ------------------------------------------------------------------------------------------------------------------------ Peter F. Dillard Since 2010 Vice President of all the DFA Entities. Research Associate for Vice President Dimensional (since August 2008). 1972 ------------------------------------------------------------------------------------------------------------------------ Robert W. Dintzner Since 2001 Vice President of all the DFA Entities. Vice President 1970 ------------------------------------------------------------------------------------------------------------------------ Richard A. Eustice Since 1998 Vice President and Assistant Secretary of all the DFA Entities and Vice President and Assistant DFA Australia Limited. Secretary 1965 ------------------------------------------------------------------------------------------------------------------------ Gretchen A. Flicker Since 2004 Vice President of all the DFA Entities. Vice President 1971 ------------------------------------------------------------------------------------------------------------------------ Jed S. Fogdall Since 2008 Vice President of all the DFA Entities. Co-Head of Portfolio Vice President Management of Dimensional (since March 2012). Sr. Portfolio 1974 Manager of Dimensional (since January 2012). ------------------------------------------------------------------------------------------------------------------------ Jeremy P. Freeman Since 2009 Vice President of all the DFA Entities. Senior Technology Manager Vice President for Dimensional (since June 2006). 1970 ------------------------------------------------------------------------------------------------------------------------ Mark R. Gochnour Since 2007 Vice President of all the DFA Entities. Vice President 1967 ------------------------------------------------------------------------------------------------------------------------ Tom M. Goodrum Since 2012 Vice President of all the DFA Entities. Formerly, Managing Director Vice President at BlackRock (2004-January 2012). 1968 ------------------------------------------------------------------------------------------------------------------------ Henry F. Gray Since 2000 Vice President of all the DFA Entities. Vice President 1967 ------------------------------------------------------------------------------------------------------------------------ John T. Gray Since 2007 Vice President of all the DFA Entities. Vice President 1974 ------------------------------------------------------------------------------------------------------------------------ Christian Gunther Since 2011 Vice President of all the DFA Entities. Senior Trader for Vice President Dimensional (since 2012). Formerly, Senior Trader for Dimensional 1975 Fund Advisors Ltd. (2009-2012); Trader for Dimensional Fund Ltd. (2008-2009); Trader for Dimensional (2004-2008). ------------------------------------------------------------------------------------------------------------------------ Joel H. Hefner Since 2007 Vice President of all the DFA Entities. Vice President 1967 ------------------------------------------------------------------------------------------------------------------------ 320 TERM OF OFFICE/1/ NAME, POSITION WITH THE FUND AND LENGTH OF AND YEAR OF BIRTH SERVICE PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS ---------------------------------------------------------------------------------------------------------------------------- Julie C. Henderson Since 2005 Vice President and Fund Controller of all the DFA Entities, Vice President and Fund Controller Dimensional Cayman Commodity Fund I Ltd. and Dimensional 1974 Japan Ltd. ---------------------------------------------------------------------------------------------------------------------------- Kevin B. Hight Since 2005 Vice President of all the DFA Entities. Vice President 1967 ---------------------------------------------------------------------------------------------------------------------------- Christine W. Ho Since 2004 Vice President of all the DFA Entities. Vice President 1967 ---------------------------------------------------------------------------------------------------------------------------- Michael C. Horvath Since 2011 Vice President of all the DFA Entities. Formerly, Managing Director, Vice President Co-Head Global Consultant Relations at BlackRock (2004-2011). 1960 ---------------------------------------------------------------------------------------------------------------------------- William A. Irvine Since 2013 Vice President of all the DFA Entities, Regional Director For Vice President Dimensional (since 2012). Formerly, Vice President of Institutional 1957 Business Development at Eaton Vance (2005-2011). ---------------------------------------------------------------------------------------------------------------------------- Jeff J. Jeon Since 2004 Vice President of all the DFA Entities and Dimensional Cayman Vice President Commodity Fund I Ltd. 1973 ---------------------------------------------------------------------------------------------------------------------------- Stephen W. Jones Since 2012 Vice President of all the DFA Entities. Formerly, Facilities Manager Vice President for Dimensional (October 2008-January 2012). 1968 ---------------------------------------------------------------------------------------------------------------------------- Patrick M. Keating Since 2003 Vice President and Chief Operating Officer of all the DFA Entities, Vice President Dimensional Cayman Commodity Fund I Ltd., Dimensional Japan 1954 Ltd., Dimensional Advisors Ltd., Dimensional Hong Kong Limited and Chief Operating Officer of Dimensional. Director, Vice President and Chief Privacy Officer of Dimensional Fund Advisors Canada ULC. Director of DFA Australia Limited, Dimensional Fund Advisors Ltd., Dimensional Japan Ltd. and Dimensional Advisors Ltd. Director and Vice President of Dimensional Hong Kong Limited and Dimensional Fund Advisors Pte. Ltd. ---------------------------------------------------------------------------------------------------------------------------- Andrew K. Keiper Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since October 2004). 1977 ---------------------------------------------------------------------------------------------------------------------------- Glenn E. Kemp Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional Fund Advisors LP (April 2006-January 2012). 1948 ---------------------------------------------------------------------------------------------------------------------------- David M. Kershner Since 2010 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since June 2004). 1971 ---------------------------------------------------------------------------------------------------------------------------- Timothy R. Kohn Since 2011 Vice President of all the DFA Entities. Head of Defined Contribution Vice President Sales for Dimensional (since August 2010). Formerly, Chief DC 1971 Strategist, Barclays Global Investors (2005-2009). ---------------------------------------------------------------------------------------------------------------------------- Joseph F. Kolerich Since 2004 Vice President of all the DFA Entities. Sr. Portfolio Manager of Vice President Dimensional (since January 2012). Formerly, Portfolio Manager for 1971 Dimensional (April 2001-January 2012). ---------------------------------------------------------------------------------------------------------------------------- Mark D. Krasniewski Since 2013 Vice President of all the DFA Entities. Formerly, Senior Associate Vice President Investment Analytics and Data for Dimensional (January 2012- 1981 December 2012); Systems Developer for Dimensional (June 2007- December 2011). ---------------------------------------------------------------------------------------------------------------------------- Stephen W. Kurad Since 2011 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (2007-2010). 1968 ---------------------------------------------------------------------------------------------------------------------------- Michael F. Lane Since 2004 Vice President of all the DFA Entities. Chief Executive Officer of Vice President Dimensional SmartNest (US) LLC (since 2012). 1967 ---------------------------------------------------------------------------------------------------------------------------- Francis R. Lao Since 2011 Vice President of all the DFA Entities. Formerly, Vice President - Vice President Global Operations at Janus Capital Group (2005-2011). 1969 ---------------------------------------------------------------------------------------------------------------------------- 321 TERM OF OFFICE/1/ NAME, POSITION WITH THE FUND AND LENGTH OF AND YEAR OF BIRTH SERVICE PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS ------------------------------------------------------------------------------------------------------------------------------- David F. LaRusso Since 2013 Vice President of all the DFA Entities. Formerly, Senior Trader for Vice President Dimensional (January 2010-December 2012); Trader for 1978 Dimensional (2000-2009). ------------------------------------------------------------------------------------------------------------------------------- Juliet H. Lee Since 2005 Vice President of all the DFA Entities. Vice President 1971 ------------------------------------------------------------------------------------------------------------------------------- Marlena I. Lee Since 2011 Vice President of all the DFA Entities. Formerly, Research Vice President Associate for Dimensional (July 2008-2010). 1980 ------------------------------------------------------------------------------------------------------------------------------- John B. Lessley Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since January 2008). 1960 ------------------------------------------------------------------------------------------------------------------------------- Apollo D. Lupescu Since 2009 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since February 2004). 1969 ------------------------------------------------------------------------------------------------------------------------------- Kenneth M. Manell Since 2010 Vice President of all the DFA Entities and Dimensional Cayman Vice President Commodity Fund I Ltd. Counsel for Dimensional (since September 1972 2006). ------------------------------------------------------------------------------------------------------------------------------- Rose C. Manziano Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (Since August 2010). Formerly, Vice President, Sales 1971 and Business Development at AdvisorsIG (PPMG) (2009- 2010); Vice President at Credit Suisse (2007-2009). ------------------------------------------------------------------------------------------------------------------------------- Aaron M. Marcus Since 2008 Vice President of all the DFA Entities and Head of Global Human Vice President & Head of Global Resources of Dimensional. Human Resources 1970 ------------------------------------------------------------------------------------------------------------------------------- David R. Martin Vice Since 2007 Vice President, Chief Financial Officer and Treasurer of all the DFA President, Chief Financial Officer Entities. Director, Vice President, Chief Financial Officer and and Treasurer Treasurer of Dimensional Fund Advisors Ltd., DFA Australia 1956 Limited, Dimensional Advisors Ltd., Dimensional Fund Advisors Pte. Ltd., Dimensional Hong Kong Limited and Dimensional Fund Advisors Canada ULC. Chief Financial Officer, Treasurer, and Vice President of Dimensional SmartNest (US) LLC, and Dimensional Cayman Commodity Fund I Ltd. Director of Dimensional Funds PLC and Dimensional Funds II PLC. Statutory Auditor of Dimensional Japan Ltd. ------------------------------------------------------------------------------------------------------------------------------- Matthew H. Miller Since 2013 Vice President of all the DFA Entities. Client Service Manager for Vice President Dimensional (Since 2012). Formerly, Regional Director for 1978 Dimensional (2008-2011; Senior Associate at Dimensional (2007- 2010). ------------------------------------------------------------------------------------------------------------------------------- Jonathan G. Nelson Since 2013 Vice President of all the DFA Entities. Manager, Investment Vice President Systems at Dimensional (Since 2011). Formerly, Project Manager 1971 for Dimensional (2007-2010). ------------------------------------------------------------------------------------------------------------------------------- Catherine L. Newell Vice President since Vice President and Secretary of all the DFA Entities. Director, Vice Vice President and Secretary 1997 and Secretary President and Secretary of DFA Australia Limited and Dimensional 1964 since 2000 Fund Advisors Ltd. (since February 2002, April 1997 and May 2002, respectively). Vice President and Secretary of Dimensional Fund Advisors Canada ULC (since June 2003), Dimensional SmartNest (US) LLC, Dimensional Cayman Commodity Fund I Ltd., Dimensional Japan Ltd. (since February 2012), Dimensional Advisors Ltd. (since March 2012), Dimensional Fund Advisors Pte. Ltd. (since June 2012) and Dimensional Hong Kong Limited (since August 2012). Director, Dimensional Funds PLC and Dimensional Funds II PLC (since 2002 and 2006, respectively). Director of Dimensional Japan Ltd., Dimensional Advisors Ltd., Dimensional Fund Advisors Pte. Ltd. and Dimensional Hong Kong Limited (since August 2012 and July 2012). ------------------------------------------------------------------------------------------------------------------------------- Pamela B. Noble Since 2011 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (2008-2010). 1964 ------------------------------------------------------------------------------------------------------------------------------- 322 TERM OF OFFICE/1/ NAME, POSITION WITH THE FUND AND LENGTH OF AND YEAR OF BIRTH SERVICE PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS ----------------------------------------------------------------------------------------------------------------------- Selwyn J. Notelovitz Since 2012 Vice President of all DFA Entities. Deputy Chief Compliance Officer Vice President of Dimensional (since December 2012). Formerly Chief Compliance 1961 Officer of Wellington Management Company, LLP (2004-2011). ----------------------------------------------------------------------------------------------------------------------- Carolyn L. O Since 2010 Vice President of all the DFA Entities and Dimensional Cayman Vice President Commodity Fund I Ltd. Deputy General Counsel, Funds (since 1974 2011). Counsel for Dimensional (2007-2011). ----------------------------------------------------------------------------------------------------------------------- Gerard K. O'Reilly Since 2007 Vice President of all the DFA Entities. Vice President 1976 ----------------------------------------------------------------------------------------------------------------------- Daniel C. Ong Since 2009 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since July 2005). 1973 ----------------------------------------------------------------------------------------------------------------------- Kyle K. Ozaki Since 2010 Vice President of all the DFA Entities. Senior Compliance Officer for Vice President Dimensional (since January 2008). Formerly, Compliance Officer 1978 (February 2006-December 2007). ----------------------------------------------------------------------------------------------------------------------- Matthew A. Pawlak Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional Fund Advisors LP (since 2012). Formerly, Senior 1977 Consultant at Hewitt EnnisKnupp (June 2011-December 2011); Senior Investment Analyst and Consultant at Hewitt EnnisKnupp (July 2008-June 2011). ----------------------------------------------------------------------------------------------------------------------- Brian P. Pitre Since 2013 Vice President of all the DFA Entities. Counsel for Dimensional Vice President Fund Advisors LP (since 2009). Formerly, Vice President and 1976 Corporate Counsel at Mellon Capital Management (2006-2008). ----------------------------------------------------------------------------------------------------------------------- David A. Plecha Since 1993 Vice President of all the DFA Entities, DFA Australia Limited, Vice President Dimensional Fund Advisors Ltd. and Dimensional Fund Advisors 1961 Canada ULC. ----------------------------------------------------------------------------------------------------------------------- Allen Pu Since 2011 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since July 2006). 1970 ----------------------------------------------------------------------------------------------------------------------- Theodore W. Randall Since 2008 Vice President of all the DFA Entities. Formerly, Research Vice President Associate of Dimensional (2006-2008). 1973 ----------------------------------------------------------------------------------------------------------------------- Mark A. Regier Since 2013 Vice President of all the DFA Entities. Planning and Analysis Vice President Manager for Dimensional (since July 2007). 1969 ----------------------------------------------------------------------------------------------------------------------- Savina B. Rizova Since 2012 Vice President of all the DFA Entities. Formerly, Research Vice President Associate for Dimensional (June 2011-January 2012); Research 1981 Assistant for Dimensional (July 2004-August 2007). ----------------------------------------------------------------------------------------------------------------------- L. Jacobo Rodriguez Since 2005 Vice President of all the DFA Entities. Vice President 1971 ----------------------------------------------------------------------------------------------------------------------- Julie A. Saft Since 2010 Vice President of all the DFA Entities. Client Systems Manager for Vice President Dimensional (since July 2008). 1959 ----------------------------------------------------------------------------------------------------------------------- Walid A. Shinnawi Since 2010 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (March 2006-January 2010). 1961 ----------------------------------------------------------------------------------------------------------------------- Bruce A. Simmons Since 2009 Vice President of all the DFA Entities. Investment Operations Vice President Manager for Dimensional (since May 2007). 1965 ----------------------------------------------------------------------------------------------------------------------- Ted R. Simpson Since 2007 Vice President of all the DFA Entities. Vice President 1968 ----------------------------------------------------------------------------------------------------------------------- Bryce D. Skaff Since 2007 Vice President of all the DFA Entities. Vice President 1975 ----------------------------------------------------------------------------------------------------------------------- Andrew D. Smith Since 2011 Vice President of all the DFA Entities. Project Manager for Vice President Dimensional (2007-2010). 1968 ----------------------------------------------------------------------------------------------------------------------- 323 TERM OF OFFICE/1/ NAME, POSITION WITH THE FUND AND LENGTH OF AND YEAR OF BIRTH SERVICE PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS --------------------------------------------------------------------------------------------------------------------- Grady M. Smith Since 2004 Vice President of all the DFA Entities and Dimensional Fund Vice President Advisors Canada ULC. 1956 --------------------------------------------------------------------------------------------------------------------- Carl G. Snyder Since 2000 Vice President of all the DFA Entities. Vice President 1963 --------------------------------------------------------------------------------------------------------------------- Lawrence R. Spieth Since 2004 Vice President of all the DFA Entities. Vice President 1947 --------------------------------------------------------------------------------------------------------------------- Bradley G. Steiman Since 2004 Vice President of all the DFA Entities and Director and Vice Vice President President of Dimensional Fund Advisors Canada ULC. 1973 --------------------------------------------------------------------------------------------------------------------- Richard H. Tatlow Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since April 2010). Formerly, Principal, Investment 1971 Strategist at Barclays Global Investors (2004-2009). --------------------------------------------------------------------------------------------------------------------- Blake T. Tatsuta Since 2013 Vice President of all the DFA Entities, Manager, Investment Vice President Analytics and Data for Dimensional (since 2012). Formerly, 1973 Research Assistant at Dimensional (2002-2011). --------------------------------------------------------------------------------------------------------------------- Erik T. Totten Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since 2010). Formerly, Senior Associate at 1980 Dimensional (2007-2009). --------------------------------------------------------------------------------------------------------------------- John H. Totten Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (January 2008-January 2012). 1978 --------------------------------------------------------------------------------------------------------------------- Robert C. Trotter Since 2009 Vice President of all the DFA Entities. Senior Manager, Technology Vice President for Dimensional (since March 2007). 1958 --------------------------------------------------------------------------------------------------------------------- Karen E. Umland Since 1997 Vice President of all the DFA Entities, DFA Australia Limited, Vice President Dimensional Fund Advisors Ltd., and Dimensional Fund Advisors 1966 Canada ULC. --------------------------------------------------------------------------------------------------------------------- Brian J. Walsh Since 2009 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since 2004). 1970 --------------------------------------------------------------------------------------------------------------------- Weston J. Wellington Since 1997 Vice President of all the DFA Entities. Vice President 1951 --------------------------------------------------------------------------------------------------------------------- Ryan J. Wiley Since 2007 Vice President of all the DFA Entities. Vice President 1976 --------------------------------------------------------------------------------------------------------------------- Paul E. Wise Since 2005 Vice President of all the DFA Entities. Vice President 1955 --------------------------------------------------------------------------------------------------------------------- Joseph L. Young Since 2011 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (2005-2010). 1978 /1/ Each officer holds office for an indefinite term at the pleasure of the Boards of Trustees/Directors and until his or her successor is elected and qualified. 324 VOTING PROXIES ON FUND PORTFOLIO SECURITIES A description of the policies and procedures that the Fund uses in voting proxies relating to securities held in the portfolio is available without charge, upon request, by calling collect: (512) 306-7400. Information regarding how the Advisor votes these proxies is available from the EDGAR database on the SEC's website at http://www.sec.gov and from the Advisor's website at http://www.dimensional.com and reflects the twelve-month period beginning July 1st and ending June 30th. 325 NOTICE TO SHAREHOLDERS (UNAUDITED) For shareholders that do not have an October 31, 2013 tax year end, this notice is for informational purposes only. For shareholders with an October 31, 2013 tax year end, please consult your tax advisor as to the pertinence of this notice. For the fiscal year November 1, 2012 to October 31, 2013, each Portfolio is designating the following items with regard to distributions paid during the fiscal year. All designations are based on financial information available as of the date of this annual report and, accordingly are subject to change. For each item, it is the intention of the Portfolio to designate the maximum amount permitted under the Internal Revenue Code and the regulations thereunder. QUALIFYING FOR NET CORPORATE INVESTMENT SHORT-TERM LONG-TERM RETURN DIVIDENDS INCOME CAPITAL GAIN CAPITAL GAIN OF TAX-EXEMPT TOTAL RECEIVED DFA INVESTMENT DIMENSIONS GROUP INC. DISTRIBUTIONS DISTRIBUTIONS DISTRIBUTIONS CAPITAL INTEREST DISTRIBUTIONS DEDUCTION(1) ------------------------------------ ------------- ------------- ------------- ------- ---------- ------------- ------------ Enhanced U.S. Large Company Portfolio.......................... 100% -- -- -- -- 100% -- U.S. Large Cap Equity Portfolio..... 100% -- -- -- -- 100% 100% U.S. Large Cap Value Portfolio...... 100% -- -- -- -- 100% 100% U.S. Targeted Value Portfolio....... 20% 5% 75% -- -- 100% 100% U.S. Small Cap Value Portfolio...... 20% 3% 77% -- -- 100% 100% U.S. Core Equity 1 Portfolio........ 100% -- -- -- -- 100% 100% U.S. Core Equity 2 Portfolio........ 72% -- 28% -- -- 100% 100% U.S. Vector Equity Portfolio........ 88% -- 12% -- -- 100% 100% U. S Small Cap Portfolio............ 24% 3% 73% -- -- 100% 100% U.S. Micro Cap Portfolio............ 21% -- 79% -- -- 100% 100% DFA Real Estate Securities Portfolio.......................... 100% -- -- -- -- 100% 100% Large Cap International Portfolio... 100% -- -- -- -- 100% 100% International Core Equity Portfolio.......................... 100% -- -- -- -- 100% 100% International Small Company Portfolio.......................... 77% 1% 22% -- -- 100% 100% Japanese Small Company Portfolio.......................... 100% -- -- -- -- 100% 100% Asia Pacific Small Company Portfolio.......................... 100% -- -- -- -- 100% 100% United Kingdom Small Company Portfolio.......................... 100% -- -- -- -- 100% 100% Continental Small Company Portfolio.......................... 100% -- -- -- -- 100% 100% QUALIFYING SHORT- QUALIFYING U.S. FOREIGN FOREIGN QUALIFYING TERM DIVIDEND GOVERNMENT TAX SOURCE INTEREST CAPITAL DFA INVESTMENT DIMENSIONS GROUP INC. INCOME(2) INTEREST(3) CREDIT(4) INCOME(5) INCOME(6) GAIN(7) ------------------------------------ ---------- ----------- --------- --------- ---------- ---------- Enhanced U.S. Large Company Portfolio.......................... -- 4% -- -- 100% 100% U.S. Large Cap Equity Portfolio..... 100% -- -- -- 100% 100% U.S. Large Cap Value Portfolio...... 100% -- -- -- 100% 100% U.S. Targeted Value Portfolio....... 100% -- -- -- 100% 100% U.S. Small Cap Value Portfolio...... 100% -- -- -- 100% 100% U.S. Core Equity 1 Portfolio........ 100% -- -- -- 100% 100% U.S. Core Equity 2 Portfolio........ 100% -- -- -- 100% 100% U.S. Vector Equity Portfolio........ 100% -- -- -- 100% 100% U. S Small Cap Portfolio............ 100% -- -- -- 100% 100% U.S. Micro Cap Portfolio............ 100% -- -- -- 100% 100% DFA Real Estate Securities Portfolio.......................... 100% -- -- -- 100% 100% Large Cap International Portfolio... 100% -- 5% 100% 100% 100% International Core Equity Portfolio.......................... 100% -- 5% 100% 100% 100% International Small Company Portfolio.......................... 100% -- 3% 98% 100% 100% Japanese Small Company Portfolio.......................... 100% -- 4% 64% 100% 100% Asia Pacific Small Company Portfolio.......................... 100% -- 3% 100% 100% 100% United Kingdom Small Company Portfolio.......................... 100% -- -- -- 100% 100% Continental Small Company Portfolio.......................... 100% -- 5% 100% 100% 100% 326 NOTICE TO SHAREHOLDERS (UNAUDITED) QUALIFYING FOR NET CORPORATE INVESTMENT SHORT-TERM LONG-TERM RETURN DIVIDENDS INCOME CAPITAL GAIN CAPITAL GAIN OF TAX-EXEMPT TOTAL RECEIVED DFA INVESTMENT DIMENSIONS GROUP INC. DISTRIBUTIONS DISTRIBUTIONS DISTRIBUTIONS CAPITAL INTEREST DISTRIBUTIONS DEDUCTION(1) ------------------------------------ ------------- ------------- ------------- ------- ---------- ------------- ------------ DFA International Real Estate Securities Portfolio............... 100% -- -- -- -- 100% 100% DFA Global Real Estate Securities Portfolio.......................... 100% -- -- -- -- 100% 100% DFA International Small Cap Value Portfolio.......................... 63% 1% 37% -- -- 100% 100% International Vector Equity Portfolio.......................... 89% -- 11% -- -- 100% 100% World ex U.S. Value Portfolio....... 100% -- -- -- -- 100% 100% World ex U.S. Targeted Value Portfolio.......................... 97% -- 2% -- -- 100% 100% World ex U.S. Core Equity Portfolio.......................... 100% -- -- -- -- 100% 100% Selectively Hedged Global Equity Portfolio.......................... 77% 10% 13% -- -- 100% 100% Emerging Markets Portfolio.......... 67% -- 33% -- -- 100% 100% Emerging Markets Small Cap Portfolio.......................... 41% 2% 56% -- -- 100% 100% Emerging Markets Value Portfolio.......................... 51% -- 49% -- -- 100% 100% Emerging Markets Core Equity Portfolio.......................... 100% -- -- -- -- 100% 100% DFA Commodity Strategy Portfolio.......................... 73% 14% 14% -- -- 100% 100% DIMENSIONAL INVESTMENT GROUP INC. DFA International Value Portfolio... 100% -- -- -- -- 100% 100% U.S. Large Company Portfolio........ 100% -- -- -- -- 100% 100% QUALIFYING SHORT- QUALIFYING U.S. FOREIGN FOREIGN QUALIFYING TERM DIVIDEND GOVERNMENT TAX SOURCE INTEREST CAPITAL DFA INVESTMENT DIMENSIONS GROUP INC. INCOME(2) INTEREST(3) CREDIT(4) INCOME(5) INCOME(6) GAIN(7) ------------------------------------ ---------- ----------- --------- --------- ---------- ---------- DFA International Real Estate Securities Portfolio............... 100% -- 3% 77% 100% 100% DFA Global Real Estate Securities Portfolio.......................... 100% -- 3% 74% 100% 100% DFA International Small Cap Value Portfolio.......................... 100% -- 4% 97% 100% 100% International Vector Equity Portfolio.......................... 100% -- 5% 100% 100% 100% World ex U.S. Value Portfolio....... 100% -- 9% 100% 100% 100% World ex U.S. Targeted Value Portfolio.......................... 100% -- 6% 100% 100% 100% World ex U.S. Core Equity Portfolio.......................... 100% -- 6% 100% 100% 100% Selectively Hedged Global Equity Portfolio.......................... 100% -- 3% 55% 100% 100% Emerging Markets Portfolio.......... 100% -- 7% 100% 100% 100% Emerging Markets Small Cap Portfolio.......................... 100% -- 4% 100% 100% 100% Emerging Markets Value Portfolio.......................... 100% -- 4% 100% 100% 100% Emerging Markets Core Equity Portfolio.......................... 100% -- 6% 100% 100% 100% DFA Commodity Strategy Portfolio.......................... 100% 1% -- -- 100% 100% DIMENSIONAL INVESTMENT GROUP INC. DFA International Value Portfolio... 100% -- 8% 100% 100% 100% U.S. Large Company Portfolio........ 100% -- -- -- 100% 100% (1)Qualifying dividends represent dividends which qualify for the corporate dividends received deduction and is reflected as a percentage of ordinary income distributions (the total of short-term capital gain and net investment income distributions). (2)The percentage in this column represents the amount of "Qualifying Dividend Income" as created by the Jobs and Growth Tax Relief Reconciliation Act of 2003 and is reflected as a percentage of ordinary income distributions (the total of short-term capital gain and net investment income distributions). Please note that these percentages are designated only, refer to your 1099 for actual qualified dividend income. 327 NOTICE TO SHAREHOLDERS (UNAUDITED) (3)"U.S. Government Interest" represents the amount of interest that was derived from direct U.S. Government obligations and distributed during the fiscal year. This amount is reflected as a percentage of total ordinary income distributions (the total of short-term capital gain and net investment income distributions). Generally, interest from direct U.S. Government obligations is exempt from state income tax. (4)"Foreign Tax Credit" represents dividends which qualify for the foreign tax credit pass through and is reflected as a percentage of investment company taxable income. (5)"Foreign Source Income" represents the portion of dividends derived from foreign sources, and is reflected as a percentage of investment company taxable income. (6)The percentage in this column represents the amount of "Qualifying Interest Income" as created by The American Jobs Creation Act of 2004. The information is reflected as a percentage ordinary income distributions (the total of short-term capital gain and net investment income distributions). (7)The percentage in this column represents the amount of "Qualifying Short-Term Capital Gain" as created by The American Jobs Creation Act of 2004. The information is reflected as a percentage of ordinary income distributions (the total of short-term capital gain and net investment income distributions). 328 [LOGO] DFA103113-001A [LOGO] ANNUAL REPORT year ended: October 31, 2013 DFA Investment Dimensions Group Inc. DFA One-Year Fixed Income Portfolio DFA Two-Year Global Fixed Income Portfolio DFA Selectively Hedged Global Fixed Income Portfolio DFA Short-Term Government Portfolio DFA Five-Year Global Fixed Income Portfolio DFA World ex U.S. Government Fixed Income Portfolio DFA Intermediate Government Fixed Income Portfolio DFA Short-Term Extended Quality Portfolio DFA Intermediate-Term Extended Quality Portfolio DFA Investment Grade Portfolio DFA Inflation-Protected Securities Portfolio DFA Short-Term Municipal Bond Portfolio DFA Intermediate-Term Municipal Bond Portfolio DFA California Short-Term Municipal Bond Portfolio DFA California Intermediate-Term Municipal Bond Portfolio [LOGO] Dimensional Fund Advisors 6300 Bee Cave Road, Building One Austin, TX 78746 November 2013 Dear Fellow Shareholder, Our goal at Dimensional is to deliver an outstanding investment experience to our clients. Our close ties to academia help us identify leading research that can be beneficial to investors, and our team works to interpret, rigorously test, and consider the practical applicability of those ideas in carefully implemented investment strategies. This focus on research and implementation has been central to Dimensional's approach since our founding and will continue to be a key part of our offer to investors. Sincerely, /s/ David G. Booth CHAIRMAN AND CO-CHIEF EXECUTIVE OFFICER DFA INVESTMENT DIMENSIONS GROUP INC. ANNUAL REPORT TABLE OF CONTENTS PAGE ---- LETTER TO SHAREHOLDERS DEFINITIONS OF ABBREVIATIONS AND FOOTNOTES........................... 1 Performance Charts................................................ 3 Management's Discussion and Analysis.............................. 11 Disclosure of Fund Expenses....................................... 17 Disclosure of Portfolio Holdings.................................. 20 Schedules of Investments DFA One-Year Fixed Income Portfolio........................... 22 DFA Two-Year Global Fixed Income Portfolio.................... 26 DFA Selectively Hedged Global Fixed Income Portfolio.......... 29 DFA Short-Term Government Portfolio........................... 34 DFA Five-Year Global Fixed Income Portfolio................... 36 DFA World ex U.S. Government Fixed Income Portfolio........... 40 DFA Intermediate Government Fixed Income Portfolio............ 42 DFA Short-Term Extended Quality Portfolio..................... 44 DFA Intermediate-Term Extended Quality Portfolio.............. 51 DFA Investment Grade Portfolio................................ 58 DFA Inflation-Protected Securities Portfolio.................. 59 DFA Short-Term Municipal Bond Portfolio....................... 60 DFA Intermediate-Term Municipal Bond Portfolio................ 69 DFA California Short-Term Municipal Bond Portfolio............ 75 DFA California Intermediate-Term Municipal Bond Portfolio..... 82 Statements of Assets and Liabilities.............................. 87 Statements of Operations.......................................... 91 Statements of Changes in Net Assets............................... 95 Financial Highlights.............................................. 99 Notes to Financial Statements..................................... 106 Report of Independent Registered Public Accounting Firm........... 125 FUND MANAGEMENT...................................................... 126 VOTING PROXIES ON FUND PORTFOLIO SECURITIES.......................... 135 NOTICE TO SHAREHOLDERS............................................... 136 This report is submitted for the information of the Fund's shareholders. It is not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus. i DFA INVESTMENT DIMENSIONS GROUP INC. DEFINITIONS OF ABBREVIATIONS AND FOOTNOTES SCHEDULES OF INVESTMENTS ------------------------ Investment Abbreviations AGM Assured Guaranty Municipal Corporation AMBAC American Municipal Bond Assurance Corporation ASSURED GTY Assured Guaranty BAN Bond Anticipation Notes CP Certificate Participation ETM Escrowed to Maturity FGIC Federal Guaranty Insurance Corporation FNMA Federal National Mortgage Association FSA Financial Security Assurance GO General Obligation GO OF AUTH General Obligation of Authority GO OF DIST General Obligation of District GO OF CMNWLTH General Obligation of Commonwealth GO OF UNIV General Obligation of University NATL-RE Credit rating enhanced by guaranty or insurance from National Public Finance Guarantee Corp. NATL-RE FGIC National Public Finance Guarantee Corp. Re-insures Financial Guaranty Insurance Co. P.L.C. Public Limited Company PSF-GTD Public School Fund Guarantee RB Revenue Bond RN Revenue Note SA Special Assessment SCH BD RES FD School Board Resolution Fund SCH BD GTY School Bond Guaranty SCSDE South Carolina State Department of Education SD CRED PROG School District Credit Program ST Special Tax ST AID WITHHLDG State Aid Withholding TAN Tax Anticipation Notes UP Unrefunded Portion AUD Australian Dollars CAD Canadian Dollars DKK Danish Krone EUR Euro GBP British Pounds JPY Japanese Yen NOK Norwegian Krone NZD New Zealand Dollars SEK Swedish Krona SGD Singapore Dollars USD United States Dollars 1 DEFINITIONS OF ABBREVIATIONS AND FOOTNOTES CONTINUED Investment Footnotes + See Note B to Financial Statements. # Total or Partial Securities on Loan. ^ Denominated in USD, unless otherwise noted. @ Security purchased with cash proceeds from Securities on Loan. (r) The adjustable rate shown is effective as of October 31, 2013. (currency) Pre-refunded bonds are collateralized by U.S. Government or other eligible securities which are held in escrow and used to pay principal and interest and retire the bonds at the earliest refunding date (payment date) and/or whose interest rates vary with changes in a designated base rate (such as the prime interest rate). ## Rule 144A, Section 4(2), or other security which is restricted as to resale to institutional investors. The Fund's Advisor has deemed this security to be liquid based upon procedures approved by the Board of Trustees. ^^ Face Amount of security is not adjusted for inflation. (S) Affiliated Fund. FINANCIAL HIGHLIGHTS -------------------- (A) Computed using average shares outstanding. (B) Represents the combined ratios for the respective portfolio and its respective pro-rata share of its Master/Underlying Fund(s). (C) Because of commencement of operations and related preliminary transaction costs, these ratios are not necessarily indicative of future ratios. (D) Non-Annualized (E) Annualized N/A Does not apply to this fund. ALL STATEMENTS, SCHEDULES AND NOTES TO FINANCIAL STATEMENTS ----------------------------------------------------------- -- Amounts designated as -- are either zero or rounded to zero. RIC Registered Investment Company SEC Securities and Exchange Commission (a) Commencement of Operations. 2 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- DFA ONE-YEAR FIXED INCOME PORTFOLIO VS. THE BOFA MERRILL LYNCH U.S. 6-MONTH TREASURY BILL INDEX, THE BOFA MERRILL LYNCH U.S. 1-YEAR TREASURY NOTE INDEX OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] Growth of $10,000 DFA The BofA Merrill The BofA Merrill One-Year Fixed Lynch U.S. 6-Month Lynch U.S. 1-Year Income Portfolio Treasury Bill Index Treasury Note Index ---------------- ------------------- ------------------- 10/2003 $10,000 $10,000 $10,000 11/2003 $10,002 $10,009 $ 9,998 12/2003 $10,041 $10,023 $10,029 01/2004 $10,051 $10,033 $10,044 02/2004 $10,077 $10,041 $10,065 03/2004 $10,096 $10,050 $10,074 04/2004 $10,058 $10,055 $10,048 05/2004 $10,051 $10,060 $10,047 06/2004 $10,042 $10,064 $10,044 07/2004 $10,073 $10,081 $10,067 08/2004 $10,116 $10,098 $10,097 09/2004 $10,109 $10,109 $10,094 10/2004 $10,134 $10,122 $10,111 11/2004 $10,110 $10,131 $10,096 12/2004 $10,131 $10,145 $10,112 01/2005 $10,141 $10,164 $10,120 02/2005 $10,145 $10,178 $10,120 03/2005 $10,148 $10,200 $10,134 04/2005 $10,191 $10,228 $10,170 05/2005 $10,223 $10,261 $10,201 06/2005 $10,239 $10,281 $10,219 07/2005 $10,237 $10,299 $10,218 08/2005 $10,282 $10,331 $10,261 09/2005 $10,291 $10,356 $10,265 10/2005 $10,310 $10,385 $10,277 11/2005 $10,336 $10,422 $10,309 12/2005 $10,364 $10,460 $10,350 01/2006 $10,394 $10,491 $10,374 02/2006 $10,426 $10,521 $10,400 03/2006 $10,467 $10,561 $10,429 04/2006 $10,501 $10,600 $10,463 05/2006 $10,544 $10,640 $10,489 06/2006 $10,581 $10,677 $10,516 07/2006 $10,627 $10,728 $10,576 08/2006 $10,673 $10,777 $10,631 09/2006 $10,722 $10,826 $10,679 10/2006 $10,771 $10,868 $10,723 11/2006 $10,810 $10,913 $10,766 12/2006 $10,859 $10,963 $10,797 01/2007 $10,912 $11,007 $10,838 02/2007 $10,951 $11,052 $10,893 03/2007 $11,005 $11,101 $10,936 04/2007 $11,050 $11,149 $10,973 05/2007 $11,099 $11,203 $11,008 06/2007 $11,146 $11,247 $11,061 07/2007 $11,192 $11,293 $11,124 08/2007 $11,242 $11,374 $11,207 09/2007 $11,280 $11,422 $11,266 10/2007 $11,335 $11,467 $11,301 11/2007 $11,372 $11,545 $11,414 12/2007 $11,422 $11,578 $11,439 01/2008 $11,467 $11,675 $11,586 02/2008 $11,497 $11,706 $11,646 03/2008 $11,519 $11,736 $11,682 04/2008 $11,536 $11,750 $11,659 05/2008 $11,560 $11,750 $11,654 06/2008 $11,595 $11,765 $11,661 07/2008 $11,621 $11,803 $11,699 08/2008 $11,647 $11,828 $11,732 09/2008 $11,596 $11,882 $11,784 10/2008 $11,676 $11,930 $11,852 11/2008 $11,759 $11,971 $11,926 12/2008 $11,881 $11,992 $11,982 01/2009 $11,893 $11,991 $11,970 02/2009 $11,881 $11,993 $11,951 03/2009 $11,925 $12,005 $11,981 04/2009 $11,962 $12,020 $12,004 05/2009 $12,007 $12,026 $12,014 06/2009 $12,040 $12,029 $12,020 07/2009 $12,048 $12,038 $12,035 08/2009 $12,086 $12,045 $12,050 09/2009 $12,111 $12,052 $12,060 10/2009 $12,119 $12,056 $12,072 11/2009 $12,152 $12,061 $12,094 12/2009 $12,110 $12,062 $12,077 01/2010 $12,145 $12,068 $12,105 02/2010 $12,162 $12,069 $12,111 03/2010 $12,157 $12,070 $12,107 04/2010 $12,164 $12,073 $12,114 05/2010 $12,170 $12,079 $12,121 06/2010 $12,199 $12,083 $12,139 07/2010 $12,219 $12,087 $12,152 08/2010 $12,238 $12,092 $12,163 09/2010 $12,244 $12,095 $12,169 10/2010 $12,263 $12,101 $12,177 11/2010 $12,245 $12,101 $12,175 12/2010 $12,250 $12,105 $12,178 01/2011 $12,262 $12,108 $12,189 02/2011 $12,266 $12,110 $12,192 03/2011 $12,273 $12,114 $12,196 04/2011 $12,301 $12,119 $12,209 05/2011 $12,319 $12,121 $12,217 06/2011 $12,313 $12,124 $12,220 07/2011 $12,330 $12,124 $12,217 08/2011 $12,334 $12,133 $12,238 09/2011 $12,327 $12,133 $12,236 10/2011 $12,333 $12,135 $12,240 11/2011 $12,326 $12,136 $12,244 12/2011 $12,323 $12,138 $12,247 01/2012 $12,358 $12,138 $12,250 02/2012 $12,363 $12,137 $12,247 03/2012 $12,369 $12,138 $12,247 04/2012 $12,386 $12,140 $12,253 05/2012 $12,380 $12,143 $12,255 06/2012 $12,397 $12,145 $12,252 07/2012 $12,415 $12,148 $12,263 08/2012 $12,420 $12,150 $12,266 09/2012 $12,426 $12,152 $12,268 10/2012 $12,430 $12,152 $12,268 11/2012 $12,435 $12,155 $12,272 12/2012 $12,438 $12,158 $12,276 01/2013 $12,450 $12,160 $12,279 02/2013 $12,452 $12,161 $12,281 03/2013 $12,456 $12,164 $12,285 04/2013 $12,460 $12,167 $12,291 05/2013 $12,452 $12,168 $12,291 06/2013 $12,456 $12,169 $12,290 Past performance is not predictive of 07/2013 $12,459 $12,172 $12,298 future performance. 08/2013 $12,463 $12,174 $12,300 09/2013 $12,479 $12,177 $12,306 The returns shown do not reflect the 10/2013 $12,483 $12,176 $12,306 deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. AVERAGE ANNUAL ONE FIVE TEN The Merrill Lynch Indices are used with TOTAL RETURN YEAR YEARS YEARS permission; copyright 2013 Merrill --------------------------------------------------------------- Lynch, Pierce, Fenner & Smith 0.43% 1.35% 2.24% Incorporated; all rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- DFA TWO-YEAR GLOBAL FIXED INCOME PORTFOLIO VS. CITIGROUP WORLD GOVERNMENT BOND INDEX, 1-2 YEARS, CURRENCY-HEDGED IN USD TERMS OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] Growth of $10,000 Citigroup World Citigroup World DFA Two-Year Government Bond Index, Government Bond Index, Global Fixed 1-3 Years, Currency- 1-2 Years, Currency- Income Portfolio Hedged in USD Terms Hedged in USD Terms ---------------- ------------------- -------------------- 10/2003 $10,000 $10,000 $10,000 11/2003 $10,000 $10,002 $10,001 12/2003 $10,047 $10,050 $10,040 01/2004 $10,067 $10,073 $10,058 02/2004 $10,117 $10,115 $10,089 03/2004 $10,142 $10,137 $10,109 04/2004 $10,051 $10,097 $10,082 05/2004 $10,031 $10,097 $10,082 06/2004 $10,020 $10,099 $10,086 07/2004 $10,061 $10,124 $10,108 08/2004 $10,122 $10,175 $10,148 09/2004 $10,117 $10,182 $10,153 10/2004 $10,137 $10,216 $10,179 11/2004 $10,106 $10,228 $10,187 12/2004 $10,121 $10,244 $10,201 01/2005 $10,121 $10,269 $10,221 02/2005 $10,111 $10,272 $10,229 03/2005 $10,105 $10,295 $10,249 04/2005 $10,156 $10,350 $10,293 05/2005 $10,197 $10,392 $10,330 06/2005 $10,213 $10,431 $10,358 07/2005 $10,202 $10,427 $10,348 08/2005 $10,254 $10,470 $10,389 09/2005 $10,243 $10,471 $10,397 10/2005 $10,254 $10,477 $10,410 11/2005 $10,285 $10,506 $10,440 12/2005 $10,313 $10,543 $10,475 01/2006 $10,345 $10,572 $10,506 02/2006 $10,377 $10,591 $10,531 03/2006 $10,390 $10,602 $10,548 04/2006 $10,422 $10,639 $10,583 05/2006 $10,475 $10,674 $10,619 06/2006 $10,506 $10,703 $10,651 07/2006 $10,559 $10,771 $10,714 08/2006 $10,612 $10,843 $10,776 09/2006 $10,654 $10,890 $10,821 10/2006 $10,686 $10,930 $10,859 11/2006 $10,739 $10,980 $10,907 12/2006 $10,774 $11,001 $10,933 01/2007 $10,816 $11,043 $10,981 02/2007 $10,869 $11,104 $11,035 03/2007 $10,912 $11,143 $11,075 04/2007 $10,955 $11,180 $11,116 05/2007 $10,997 $11,189 $11,136 06/2007 $11,040 $11,230 $11,179 07/2007 $11,082 $11,309 $11,250 08/2007 $11,135 $11,410 $11,340 09/2007 $11,185 $11,474 $11,400 10/2007 $11,250 $11,523 $11,449 11/2007 $11,282 $11,631 $11,544 12/2007 $11,342 $11,666 $11,579 01/2008 $11,386 $11,806 $11,700 02/2008 $11,408 $11,870 $11,755 03/2008 $11,419 $11,870 $11,760 04/2008 $11,452 $11,826 $11,732 05/2008 $11,474 $11,788 $11,711 06/2008 $11,505 $11,794 $11,725 07/2008 $11,538 $11,858 $11,778 08/2008 $11,572 $11,912 $11,819 09/2008 $11,534 $11,991 $11,894 10/2008 $11,613 $12,140 $12,022 11/2008 $11,691 $12,223 $12,094 12/2008 $11,804 $12,313 $12,170 01/2009 $11,804 $12,339 $12,191 02/2009 $11,804 $12,358 $12,200 03/2009 $11,839 $12,409 $12,238 04/2009 $11,885 $12,418 $12,249 05/2009 $11,932 $12,442 $12,272 06/2009 $11,954 $12,453 $12,284 07/2009 $11,966 $12,483 $12,310 08/2009 $12,001 $12,514 $12,335 09/2009 $12,031 $12,544 $12,353 10/2009 $12,043 $12,556 $12,362 11/2009 $12,090 $12,595 $12,386 12/2009 $12,050 $12,567 $12,371 01/2010 $12,097 $12,600 $12,399 02/2010 $12,121 $12,639 $12,423 03/2010 $12,122 $12,638 $12,422 04/2010 $12,134 $12,635 $12,411 05/2010 $12,146 $12,686 $12,446 06/2010 $12,182 $12,699 $12,453 07/2010 $12,217 $12,727 $12,470 08/2010 $12,241 $12,756 $12,488 09/2010 $12,252 $12,749 $12,483 10/2010 $12,264 $12,762 $12,491 11/2010 $12,252 $12,730 $12,476 12/2010 $12,260 $12,736 $12,487 01/2011 $12,273 $12,737 $12,490 02/2011 $12,273 $12,733 $12,492 03/2011 $12,285 $12,726 $12,491 04/2011 $12,309 $12,748 $12,506 05/2011 $12,333 $12,783 $12,529 06/2011 $12,333 $12,788 $12,532 07/2011 $12,345 $12,802 $12,537 08/2011 $12,369 $12,876 $12,584 09/2011 $12,366 $12,874 $12,587 10/2011 $12,366 $12,863 $12,581 11/2011 $12,353 $12,846 $12,573 12/2011 $12,356 $12,918 $12,629 01/2012 $12,380 $12,954 $12,654 02/2012 $12,393 $12,971 $12,671 03/2012 $12,405 $12,968 $12,672 04/2012 $12,417 $12,979 $12,679 05/2012 $12,417 $12,974 $12,675 06/2012 $12,431 $12,989 $12,685 07/2012 $12,455 $13,012 $12,703 08/2012 $12,468 $13,043 $12,724 09/2012 $12,470 $13,058 $12,734 10/2012 $12,470 $13,065 $12,739 11/2012 $12,482 $13,084 $12,751 12/2012 $12,484 $13,094 $12,759 01/2013 $12,484 $13,097 $12,766 02/2013 $12,496 $13,113 $12,777 03/2013 $12,508 $13,122 $12,784 04/2013 $12,521 $13,149 $12,800 05/2013 $12,508 $13,134 $12,795 06/2013 $12,496 $13,119 $12,789 07/2013 $12,508 $13,144 $12,805 Past performance is not predictive of 08/2013 $12,508 $13,139 $12,805 future performance. 09/2013 $12,521 $13,164 $12,821 10/2013 $12,533 $13,188 $12,835 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE TEN redemption of fund shares. TOTAL RETURN YEAR YEARS YEARS -------------------------------------------------------------- Citigroup bond indices copyright 2013 0.51% 1.54% 2.28% by Citigroup. -------------------------------------------------------------------------------- 3 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- DFA SELECTIVELY HEDGED GLOBAL FIXED INCOME PORTFOLIO VS. CITIGROUP WORLD GOVERNMENT BOND INDEX, 1-3 YEARS, IN USD TERMS (UNHEDGED) JANUARY 9, 2008-OCTOBER 31, 2013 [CHART] Growth of $10,000 DFA Selectively Hedged Citigroup World Government Bond Global Fixed Income Portfolio Index, 1-3 Years, in USD Terms (unhedged) ----------------------------- ----------------------------------------- 01/2008 $10,000 $10,000 01/2008 $10,050 $10,199 02/2008 $10,140 $10,433 03/2008 $10,176 $10,754 04/2008 $10,216 $10,485 05/2008 $10,236 $10,415 06/2008 $10,266 $10,466 07/2008 $10,226 $10,427 08/2008 $ 9,845 $10,188 09/2008 $ 9,585 $10,126 10/2008 $ 8,933 $10,032 11/2008 $ 8,843 $10,177 12/2008 $ 9,113 $10,732 01/2009 $ 8,803 $10,481 02/2009 $ 8,742 $10,160 03/2009 $ 9,103 $10,334 04/2009 $ 9,184 $10,379 05/2009 $ 9,605 $10,791 06/2009 $ 9,615 $10,735 07/2009 $ 9,745 $10,869 08/2009 $ 9,825 $11,016 09/2009 $ 9,976 $11,225 10/2009 $10,026 $11,251 11/2009 $10,106 $11,525 12/2009 $10,044 $11,076 01/2010 $10,024 $11,065 02/2010 $10,054 $11,084 03/2010 $10,094 $10,915 04/2010 $10,144 $10,843 05/2010 $ 9,953 $10,675 06/2010 $ 9,984 $10,776 07/2010 $10,204 $11,084 08/2010 $10,134 $11,116 09/2010 $10,355 $11,381 10/2010 $10,435 $11,578 11/2010 $10,264 $11,202 12/2010 $10,522 $11,426 01/2011 $10,532 $11,470 02/2011 $10,603 $11,508 03/2011 $10,684 $11,555 04/2011 $10,959 $11,838 05/2011 $10,908 $11,747 06/2011 $10,918 $11,794 07/2011 $11,041 $11,949 08/2011 $10,990 $12,038 09/2011 $10,522 $11,700 10/2011 $10,837 $11,827 11/2011 $10,654 $11,681 12/2011 $10,611 $11,654 01/2012 $10,779 $11,769 02/2012 $10,895 $11,675 03/2012 $10,832 $11,595 04/2012 $10,853 $11,690 05/2012 $10,527 $11,482 06/2012 $10,758 $11,544 07/2012 $10,832 $11,555 08/2012 $10,916 $11,649 09/2012 $10,990 $11,755 10/2012 $10,969 $11,692 11/2012 $11,011 $11,634 12/2012 $11,058 $11,565 01/2013 $11,069 $11,507 02/2013 $11,015 $11,353 03/2013 $11,069 $11,268 04/2013 $11,156 $11,300 05/2013 $10,940 $11,115 06/2013 $10,680 $11,136 07/2013 $10,832 $11,255 08/2013 $10,691 $11,228 09/2013 $10,961 $11,365 Past performance is not predictive of 10/2013 $11,026 $11,398 future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE FROM redemption of fund shares. TOTAL RETURN YEAR YEARS 01/09/2008 ----------------------------------------------------------------- Citigroup bond indices copyright 2013 0.52% 4.30% 1.70% by Citigroup. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- DFA SHORT-TERM GOVERNMENT PORTFOLIO VS. THE BOFA MERRILL LYNCH 1-5 YEAR U.S. TREASURY & AGENCY INDEX OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] Growth of $10,000 DFA Short-Term The BofA Merrill Lynch 1-5 Year Government Portfolio U.S. Treasury & Agency Index -------------------- ------------------------------- 10/2003 $10,000 $10,000 11/2003 $ 9,991 $ 9,996 12/2003 $10,072 $10,066 01/2004 $10,138 $10,097 02/2004 $10,261 $10,167 03/2004 $10,375 $10,218 04/2004 $10,062 $10,062 05/2004 $ 9,987 $10,039 06/2004 $10,041 $10,049 07/2004 $10,108 $10,102 08/2004 $10,300 $10,210 09/2004 $10,322 $10,206 10/2004 $10,400 $10,250 11/2004 $10,293 $10,179 12/2004 $10,348 $10,214 01/2005 $10,339 $10,209 02/2005 $10,270 $10,168 03/2005 $10,227 $10,156 04/2005 $10,335 $10,238 05/2005 $10,443 $10,295 06/2005 $10,473 $10,320 07/2005 $10,364 $10,262 08/2005 $10,473 $10,350 09/2005 $10,398 $10,299 10/2005 $10,368 $10,281 11/2005 $10,398 $10,318 12/2005 $10,428 $10,362 01/2006 $10,458 $10,376 02/2006 $10,478 $10,380 03/2006 $10,505 $10,382 04/2006 $10,545 $10,408 05/2006 $10,576 $10,419 06/2006 $10,617 $10,436 07/2006 $10,658 $10,527 08/2006 $10,709 $10,616 09/2006 $10,757 $10,680 10/2006 $10,809 $10,727 11/2006 $10,851 $10,794 12/2006 $10,898 $10,781 01/2007 $10,940 $10,797 02/2007 $10,982 $10,902 03/2007 $11,032 $10,942 04/2007 $11,075 $10,986 05/2007 $11,128 $10,955 06/2007 $11,168 $10,992 07/2007 $11,222 $11,106 08/2007 $11,265 $11,231 09/2007 $11,304 $11,316 10/2007 $11,348 $11,367 11/2007 $11,391 $11,592 12/2007 $11,438 $11,631 01/2008 $11,471 $11,868 02/2008 $11,593 $11,993 03/2008 $11,640 $12,033 04/2008 $11,395 $11,912 05/2008 $11,284 $11,839 06/2008 $11,344 $11,881 07/2008 $11,422 $11,937 08/2008 $11,534 $12,004 09/2008 $11,627 $12,084 10/2008 $11,762 $12,196 11/2008 $12,111 $12,449 12/2008 $12,393 $12,604 01/2009 $12,268 $12,532 02/2009 $12,268 $12,521 03/2009 $12,395 $12,624 04/2009 $12,384 $12,595 05/2009 $12,384 $12,598 06/2009 $12,391 $12,569 07/2009 $12,426 $12,603 08/2009 $12,506 $12,674 09/2009 $12,582 $12,720 10/2009 $12,617 $12,752 11/2009 $12,756 $12,869 12/2009 $12,574 $12,720 01/2010 $12,692 $12,843 02/2010 $12,750 $12,884 03/2010 $12,702 $12,832 04/2010 $12,773 $12,888 05/2010 $12,867 $12,978 06/2010 $13,003 $13,077 07/2010 $13,110 $13,149 08/2010 $13,157 $13,204 09/2010 $13,193 $13,238 10/2010 $13,289 $13,287 11/2010 $13,205 $13,237 12/2010 $13,134 $13,160 01/2011 $13,146 $13,199 02/2011 $13,122 $13,171 03/2011 $13,139 $13,166 04/2011 $13,249 $13,258 05/2011 $13,359 $13,348 06/2011 $13,343 $13,353 07/2011 $13,429 $13,446 08/2011 $13,527 $13,544 09/2011 $13,512 $13,526 10/2011 $13,524 $13,540 11/2011 $13,549 $13,557 12/2011 $13,580 $13,580 01/2012 $13,643 $13,623 02/2012 $13,617 $13,590 03/2012 $13,627 $13,565 04/2012 $13,678 $13,627 05/2012 $13,678 $13,651 06/2012 $13,698 $13,642 07/2012 $13,749 $13,696 08/2012 $13,787 $13,704 09/2012 $13,780 $13,705 10/2012 $13,780 $13,690 11/2012 $13,806 $13,719 12/2012 $13,795 $13,713 01/2013 $13,782 $13,696 02/2013 $13,808 $13,728 03/2013 $13,813 $13,734 04/2013 $13,852 $13,765 05/2013 $13,762 $13,695 06/2013 $13,660 $13,639 Past performance is not predictive of 07/2013 $13,712 $13,671 future performance. 08/2013 $13,648 $13,633 09/2013 $13,738 $13,703 The returns shown do not reflect the 10/2013 $13,776 $13,738 deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. AVERAGE ANNUAL ONE FIVE TEN The Merrill Lynch Indices are used with TOTAL RETURN YEAR YEARS YEARS permission; copyright 2013 Merrill ------------------------------------------------------------ Lynch, Pierce, Fenner & Smith -0.03% 3.21% 3.26% Incorporated; all rights reserved. -------------------------------------------------------------------------------- 4 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- DFA FIVE-YEAR GLOBAL FIXED INCOME PORTFOLIO VS. CITIGROUP WORLD GOVERNMENT BOND INDEX, 1-5 YEARS, CURRENCY-HEDGED IN USD TERMS OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] Growth of $10,000 DFA Five-Year Global Citigroup World Government Bond Index, Fixed Income Portfolio 1-5 Years, Currency-Hedged in USD Terms ---------------------- --------------------------------------- 10/2003 $10,000 $10,000 11/2003 $10,000 $10,002 12/2003 $10,083 $10,063 01/2004 $10,160 $10,099 02/2004 $10,266 $10,160 03/2004 $10,379 $10,189 04/2004 $10,060 $10,124 05/2004 $10,011 $10,118 06/2004 $10,040 $10,119 07/2004 $10,118 $10,151 08/2004 $10,313 $10,230 09/2004 $10,333 $10,246 10/2004 $10,402 $10,290 11/2004 $10,304 $10,307 12/2004 $10,375 $10,331 01/2005 $10,394 $10,365 02/2005 $10,345 $10,354 03/2005 $10,297 $10,385 04/2005 $10,435 $10,461 05/2005 $10,524 $10,514 06/2005 $10,598 $10,566 07/2005 $10,529 $10,545 08/2005 $10,628 $10,599 09/2005 $10,546 $10,584 10/2005 $10,506 $10,574 11/2005 $10,526 $10,608 12/2005 $10,553 $10,649 01/2006 $10,564 $10,667 02/2006 $10,584 $10,677 03/2006 $10,553 $10,668 04/2006 $10,574 $10,696 05/2006 $10,626 $10,737 06/2006 $10,646 $10,760 07/2006 $10,719 $10,839 08/2006 $10,812 $10,934 09/2006 $10,853 $10,983 10/2006 $10,895 $11,021 11/2006 $10,936 $11,077 12/2006 $10,964 $11,084 01/2007 $11,016 $11,124 02/2007 $11,068 $11,196 03/2007 $11,110 $11,232 04/2007 $11,141 $11,267 05/2007 $11,172 $11,255 06/2007 $11,200 $11,284 07/2007 $11,263 $11,381 08/2007 $11,346 $11,501 09/2007 $11,387 $11,564 10/2007 $11,451 $11,623 11/2007 $11,482 $11,749 12/2007 $11,537 $11,783 01/2008 $11,601 $11,959 02/2008 $11,644 $12,038 03/2008 $11,655 $12,035 04/2008 $11,569 $11,956 05/2008 $11,537 $11,887 06/2008 $11,569 $11,888 07/2008 $11,633 $11,976 08/2008 $11,698 $12,050 09/2008 $11,577 $12,128 10/2008 $11,643 $12,304 11/2008 $11,817 $12,436 12/2008 $12,001 $12,560 01/2009 $11,979 $12,565 02/2009 $11,968 $12,591 03/2009 $12,012 $12,656 04/2009 $12,088 $12,658 05/2009 $12,110 $12,664 06/2009 $12,184 $12,684 07/2009 $12,283 $12,731 08/2009 $12,394 $12,775 09/2009 $12,477 $12,815 10/2009 $12,544 $12,828 11/2009 $12,700 $12,896 12/2009 $12,504 $12,848 01/2010 $12,663 $12,897 02/2010 $12,742 $12,951 03/2010 $12,733 $12,946 04/2010 $12,824 $12,952 05/2010 $12,904 $13,036 06/2010 $12,989 $13,069 07/2010 $13,183 $13,116 08/2010 $13,344 $13,179 09/2010 $13,394 $13,169 10/2010 $13,486 $13,182 11/2010 $13,347 $13,118 12/2010 $13,167 $13,103 01/2011 $13,203 $13,094 02/2011 $13,191 $13,082 03/2011 $13,203 $13,073 04/2011 $13,373 $13,112 05/2011 $13,530 $13,176 06/2011 $13,530 $13,183 07/2011 $13,748 $13,230 08/2011 $13,845 $13,344 09/2011 $13,818 $13,349 10/2011 $13,855 $13,330 11/2011 $13,647 $13,304 12/2011 $13,760 $13,406 01/2012 $13,899 $13,464 02/2012 $13,924 $13,486 03/2012 $13,962 $13,475 04/2012 $14,013 $13,502 05/2012 $14,101 $13,515 06/2012 $14,110 $13,528 07/2012 $14,287 $13,573 08/2012 $14,338 $13,609 09/2012 $14,361 $13,633 10/2012 $14,374 $13,641 11/2012 $14,425 $13,676 12/2012 $14,421 $13,688 01/2013 $14,356 $13,676 02/2013 $14,447 $13,708 03/2013 $14,472 $13,721 04/2013 $14,550 $13,766 05/2013 $14,421 $13,719 06/2013 $14,243 $13,676 07/2013 $14,334 $13,714 08/2013 $14,256 $13,694 Past performance is not predictive of 09/2013 $14,373 $13,742 future performance. 10/2013 $14,464 $13,787 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE TEN redemption of fund shares. TOTAL RETURN YEAR YEARS YEARS --------------------------------------------------------------- Citigroup bond indices copyright 2013 0.63% 4.43% 3.76% by Citigroup. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- DFA WORLD EX U.S. GOVERNMENT FIXED INCOME PORTFOLIO VS. CITIGROUP WORLD GOVERNMENT BOND INDEX EX USA 1-30 YEARS CURRENCY-HEDGED IN USD TERMS DECEMBER 6, 2011-OCTOBER 31, 2013 [CHART] Growth of $10,000 DFA World ex U.S. Government Citigroup World Government Bond Index Fixed Income Portfolio ex USA 1-30 Years (hedged to USD) ---------------------------- --------------------------------- 12/2011 $10,000 $10,000 12/2011 $10,095 $10,085 01/2012 $10,145 $10,165 02/2012 $10,175 $10,216 03/2012 $10,165 $10,218 04/2012 $10,246 $10,246 05/2012 $10,506 $10,370 06/2012 $10,427 $10,329 07/2012 $10,648 $10,436 08/2012 $10,658 $10,456 09/2012 $10,656 $10,515 10/2012 $10,666 $10,538 11/2012 $10,757 $10,623 12/2012 $10,771 $10,641 01/2013 $10,606 $10,608 02/2013 $10,730 $10,670 03/2013 $10,834 $10,776 04/2013 $10,968 $10,899 05/2013 $10,741 $10,744 06/2013 $10,524 $10,638 07/2013 $10,587 $10,690 08/2013 $10,483 $10,668 Past performance is not predictive of 09/2013 $10,576 $10,745 future performance. 10/2013 $10,690 $10,852 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FROM redemption of fund shares. TOTAL RETURN YEAR 12/06/2011 ------------------------------------------------------ Citigroup bond indices copyright 2013 0.23% 3.57% by Citigroup. -------------------------------------------------------------------------------- 5 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- DFA INTERMEDIATE GOVERNMENT FIXED INCOME PORTFOLIO VS. BARCLAYS U.S. GOVERNMENT BOND INDEX OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] Growth of $10,000 DFA Intermediate Government Barclays U.S. Fixed Income Portfolio Government Bond Index --------------------------- ----------------------- 10/2003 $10,000 $10,000 11/2003 $10,017 $10,012 12/2003 $10,111 $10,101 01/2004 $10,206 $10,185 02/2004 $10,352 $10,307 03/2004 $10,493 $10,398 04/2004 $10,078 $10,085 05/2004 $10,009 $10,047 06/2004 $10,080 $10,088 07/2004 $10,185 $10,182 08/2004 $10,448 $10,381 09/2004 $10,482 $10,402 10/2004 $10,580 $10,484 11/2004 $10,438 $10,360 12/2004 $10,544 $10,452 01/2005 $10,589 $10,518 02/2005 $10,489 $10,443 03/2005 $10,434 $10,409 04/2005 $10,616 $10,576 05/2005 $10,761 $10,698 06/2005 $10,825 $10,759 07/2005 $10,650 $10,629 08/2005 $10,843 $10,786 09/2005 $10,679 $10,658 10/2005 $10,577 $10,583 11/2005 $10,633 $10,631 12/2005 $10,716 $10,729 01/2006 $10,707 $10,711 02/2006 $10,697 $10,728 03/2006 $10,613 $10,632 04/2006 $10,574 $10,602 05/2006 $10,584 $10,604 06/2006 $10,584 $10,634 07/2006 $10,729 $10,761 08/2006 $10,903 $10,913 09/2006 $11,002 $11,010 10/2006 $11,070 $11,067 11/2006 $11,197 $11,180 12/2006 $11,101 $11,102 01/2007 $11,081 $11,089 02/2007 $11,279 $11,259 03/2007 $11,282 $11,262 04/2007 $11,342 $11,318 05/2007 $11,212 $11,229 06/2007 $11,199 $11,225 07/2007 $11,350 $11,385 08/2007 $11,562 $11,557 09/2007 $11,651 $11,630 10/2007 $11,733 $11,715 11/2007 $12,100 $12,037 12/2007 $12,159 $12,064 01/2008 $12,490 $12,353 02/2008 $12,594 $12,470 03/2008 $12,683 $12,552 04/2008 $12,496 $12,376 05/2008 $12,308 $12,241 06/2008 $12,361 $12,312 07/2008 $12,435 $12,366 08/2008 $12,561 $12,492 09/2008 $12,559 $12,548 10/2008 $12,431 $12,514 11/2008 $13,135 $13,107 12/2008 $13,726 $13,558 01/2009 $13,399 $13,221 02/2009 $13,323 $13,185 03/2009 $13,533 $13,425 04/2009 $13,402 $13,246 05/2009 $13,369 $13,146 06/2009 $13,392 $13,128 07/2009 $13,480 $13,191 08/2009 $13,591 $13,295 09/2009 $13,717 $13,394 10/2009 $13,762 $13,396 11/2009 $13,963 $13,568 12/2009 $13,627 $13,260 01/2010 $13,866 $13,453 02/2010 $13,945 $13,508 03/2010 $13,858 $13,407 04/2010 $14,007 $13,534 05/2010 $14,213 $13,742 06/2010 $14,478 $13,976 07/2010 $14,628 $14,071 08/2010 $14,882 $14,321 09/2010 $14,922 $14,328 10/2010 $14,980 $14,319 11/2010 $14,852 $14,222 12/2010 $14,570 $13,992 01/2011 $14,570 $13,993 02/2011 $14,570 $13,985 03/2011 $14,572 $13,981 04/2011 $14,751 $14,133 05/2011 $14,990 $14,334 06/2011 $14,925 $14,291 07/2011 $15,214 $14,529 08/2011 $15,587 $14,899 09/2011 $15,728 $15,127 10/2011 $15,643 $15,019 11/2011 $15,764 $15,120 12/2011 $15,943 $15,254 01/2012 $16,054 $15,321 02/2012 $15,980 $15,222 03/2012 $15,870 $15,084 04/2012 $16,118 $15,288 05/2012 $16,316 $15,526 06/2012 $16,280 $15,480 07/2012 $16,455 $15,628 08/2012 $16,517 $15,613 09/2012 $16,526 $15,572 10/2012 $16,501 $15,550 11/2012 $16,614 $15,626 12/2012 $16,534 $15,563 01/2013 $16,407 $15,445 02/2013 $16,534 $15,524 03/2013 $16,537 $15,538 04/2013 $16,677 $15,669 05/2013 $16,358 $15,414 06/2013 $15,994 $15,246 07/2013 $16,020 $15,231 08/2013 $15,853 $15,158 Past performance is not predictive of 09/2013 $16,066 $15,264 future performance. 10/2013 $16,156 $15,337 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE TEN redemption of fund shares. TOTAL RETURN YEAR YEARS YEARS ------------------------------------------------------------- Barclays data provided by Barclays -2.09% 5.38% 4.91% Bank PLC. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- DFA SHORT-TERM EXTENDED QUALITY PORTFOLIO VS. THE BOFA MERRILL LYNCH 1-5 YEAR U.S. CORPORATE & GOVERNMENT INDEX MARCH 4, 2009-OCTOBER 31, 2013 [CHART] Growth of $10,000 DFA Short-Term The BofA Merrill Lynch 1-5 Year Extended Quality Portfolio U.S. Corporate & Government Index -------------------------- -------------------------------- 03/2009 $10,000 $10,000 03/2009 $10,030 $10,077 04/2009 $10,135 $10,138 05/2009 $10,251 $10,223 06/2009 $10,348 $10,251 07/2009 $10,501 $10,329 08/2009 $10,602 $10,414 09/2009 $10,681 $10,476 10/2009 $10,749 $10,524 11/2009 $10,880 $10,628 12/2009 $10,774 $10,522 01/2010 $10,918 $10,641 02/2010 $10,964 $10,679 03/2010 $10,958 $10,655 04/2010 $11,041 $10,712 05/2010 $11,047 $10,754 06/2010 $11,135 $10,837 07/2010 $11,258 $10,922 08/2010 $11,347 $10,980 09/2010 $11,404 $11,022 10/2010 $11,473 $11,072 11/2010 $11,403 $11,024 12/2010 $11,329 $10,960 01/2011 $11,381 $11,002 02/2011 $11,381 $10,992 03/2011 $11,383 $10,994 04/2011 $11,500 $11,083 05/2011 $11,575 $11,159 06/2011 $11,564 $11,157 07/2011 $11,671 $11,241 08/2011 $11,691 $11,290 09/2011 $11,648 $11,250 10/2011 $11,692 $11,287 11/2011 $11,615 $11,269 12/2011 $11,660 $11,300 01/2012 $11,768 $11,373 02/2012 $11,808 $11,374 03/2012 $11,817 $11,370 04/2012 $11,859 $11,420 05/2012 $11,866 $11,429 06/2012 $11,885 $11,439 07/2012 $11,989 $11,507 08/2012 $12,021 $11,530 09/2012 $12,062 $11,551 10/2012 $12,069 $11,554 11/2012 $12,087 $11,578 12/2012 $12,083 $11,579 01/2013 $12,072 $11,574 02/2013 $12,112 $11,606 03/2013 $12,125 $11,614 04/2013 $12,171 $11,649 05/2013 $12,111 $11,590 06/2013 $12,013 $11,521 Past performance is not predictive of 07/2013 $12,062 $11,561 future performance. 08/2013 $12,021 $11,533 09/2013 $12,108 $11,599 The returns shown do not reflect the 10/2013 $12,164 $11,644 deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. AVERAGE ANNUAL ONE FROM The Merrill Lynch Indices are used with TOTAL RETURN YEAR 03/04/2009 permission; copyright 2013 Merrill ------------------------------------------------------ Lynch, Pierce, Fenner & Smith 0.79% 4.29% Incorporated; all rights reserved. -------------------------------------------------------------------------------- 6 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- DFA INTERMEDIATE-TERM EXTENDED QUALITY PORTFOLIO VS. BARCLAYS U.S. CREDIT BOND INDEX JULY 20, 2010-OCTOBER 31, 2013 [CHART] Growth of $10,000 DFA Intermediate-Term Barclays U.S.Credit Extended Quality Portfolio Bond Index ---------------------------- --------------------- 07/2010 $10,000 $10,000 07/2010 $10,020 $10,093 08/2010 $10,230 $10,296 09/2010 $10,282 $10,362 10/2010 $10,315 $10,376 11/2010 $10,195 $10,273 12/2010 $ 9,963 $10,169 01/2011 $ 9,983 $10,191 02/2011 $10,018 $10,264 03/2011 $10,015 $10,260 04/2011 $10,184 $10,434 05/2011 $10,363 $10,594 06/2011 $10,278 $10,516 07/2011 $10,583 $10,769 08/2011 $10,745 $10,808 09/2011 $10,773 $10,835 10/2011 $10,825 $10,993 11/2011 $10,683 $10,809 12/2011 $10,897 $11,019 01/2012 $11,085 $11,248 02/2012 $11,133 $11,333 03/2012 $11,032 $11,243 04/2012 $11,228 $11,394 05/2012 $11,359 $11,471 06/2012 $11,356 $11,520 07/2012 $11,607 $11,832 08/2012 $11,644 $11,857 09/2012 $11,715 $11,928 10/2012 $11,819 $12,061 11/2012 $11,850 $12,061 12/2012 $11,798 $12,053 01/2013 $11,658 $11,948 02/2013 $11,770 $12,031 03/2013 $11,804 $12,032 04/2013 $11,989 $12,249 05/2013 $11,676 $11,960 06/2013 $11,290 $11,619 07/2013 $11,362 $11,701 08/2013 $11,224 $11,607 Past performance is not predictive of 09/2013 $11,364 $11,703 future performance. 10/2013 $11,509 $11,872 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FROM redemption of fund shares. TOTAL RETURN YEAR 07/20/2010 ---------------------------------------------------- Barclays data provided by Barclays -2.62% 4.38% Bank PLC. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- DFA INVESTMENT GRADE PORTFOLIO VS. BARCLAYS U.S. AGGREGATE BOND INDEX MARCH 7, 2011-OCTOBER 31, 2013 [CHART] Growth of $10,000 DFA Investment Grade Barclays U.S. Aggregate Portfolio Bond Index -------------------- ------------------------- 03/2011 $10,000 $10,000 03/2011 $10,040 $10,026 04/2011 $10,180 $10,153 05/2011 $10,330 $10,285 06/2011 $10,273 $10,255 07/2011 $10,505 $10,418 08/2011 $10,686 $10,570 09/2011 $10,725 $10,647 10/2011 $10,735 $10,658 11/2011 $10,694 $10,649 12/2011 $10,831 $10,766 01/2012 $10,953 $10,861 02/2012 $10,963 $10,858 03/2012 $10,899 $10,799 04/2012 $11,042 $10,919 05/2012 $11,145 $11,017 06/2012 $11,140 $11,022 07/2012 $11,295 $11,174 08/2012 $11,336 $11,181 09/2012 $11,371 $11,196 10/2012 $11,402 $11,218 11/2012 $11,443 $11,236 12/2012 $11,406 $11,220 01/2013 $11,322 $11,142 02/2013 $11,396 $11,198 03/2013 $11,418 $11,207 04/2013 $11,533 $11,320 05/2013 $11,313 $11,118 06/2013 $11,045 $10,946 07/2013 $11,098 $10,961 Past performance is not predictive of 08/2013 10,982 $10,905 future performance. 09/2013 $11,116 $11,008 10/2013 $11,222 $11,097 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FROM redemption of fund shares. TOTAL RETURN YEAR 03/07/2011 ---------------------------------------------------- Barclays data provided by Barclays -1.58% 4.44% Bank PLC. -------------------------------------------------------------------------------- 7 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- DFA INFLATION-PROTECTED SECURITIES PORTFOLIO VS. BARCLAYS U.S. TREASURY INFLATION PROTECTED SECURITIES (TIPS) INDEX (SERIES-L) SEPTEMBER 18, 2006-OCTOBER 31, 2013 [CHART] Growth of $10,000 DFA Inflation-Protected Barclays U.S. Treasury Inflation Protected Securities Portfolio Securities (TIPS) Index (Series-L) ----------------------- ------------------------------------------- 09/2006 $10,000 $10,000 09/2006 $10,090 $10,115 10/2006 $10,070 $10,098 11/2006 $10,190 $10,223 12/2006 $ 9,947 $ 9,984 01/2007 $ 9,967 $ 9,997 02/2007 $10,177 $10,211 03/2007 $10,202 $10,235 04/2007 $10,272 $10,308 05/2007 $10,132 $10,173 06/2007 $10,101 $10,157 07/2007 $10,356 $10,389 08/2007 $10,438 $10,478 09/2007 $10,567 $10,618 10/2007 $10,712 $10,737 11/2007 $11,167 $11,163 12/2007 $11,125 $11,146 01/2008 $11,605 $11,587 02/2008 $11,803 $11,730 03/2008 $11,827 $11,723 04/2008 $11,544 $11,476 05/2008 $11,533 $11,513 06/2008 $11,761 $11,690 07/2008 $11,686 $11,630 08/2008 $11,772 $11,725 09/2008 $11,291 $11,276 10/2008 $10,285 $10,296 11/2008 $10,318 $10,369 12/2008 $10,967 $10,884 01/2009 $11,100 $11,067 02/2009 $10,834 $10,850 03/2009 $11,531 $11,484 04/2009 $11,354 $11,270 05/2009 $11,520 $11,507 06/2009 $11,531 $11,560 07/2009 $11,564 $11,568 08/2009 $11,675 $11,670 09/2009 $11,918 $11,916 10/2009 $12,106 $12,062 11/2009 $12,437 $12,397 12/2009 $12,175 $12,126 01/2010 $12,365 $12,321 02/2010 $12,253 $12,178 03/2010 $12,237 $12,194 04/2010 $12,562 $12,483 05/2010 $12,550 $12,482 06/2010 $12,754 $12,660 07/2010 $12,766 $12,678 08/2010 $12,992 $12,897 09/2010 $13,131 $12,975 10/2010 $13,472 $13,319 11/2010 $13,256 $13,093 12/2010 $13,004 $12,891 01/2011 $13,073 $12,916 02/2011 $13,154 $13,027 03/2011 $13,274 $13,159 04/2011 $13,609 $13,490 05/2011 $13,702 $13,531 06/2011 $13,822 $13,640 07/2011 $14,400 $14,174 08/2011 $14,542 $14,289 09/2011 $14,486 $14,256 10/2011 $14,736 $14,521 11/2011 $14,880 $14,633 12/2011 $14,895 $14,639 01/2012 $15,236 $14,974 02/2012 $15,187 $14,925 03/2012 $15,029 $14,765 04/2012 $15,370 $15,064 05/2012 $15,614 $15,316 06/2012 $15,525 $15,230 07/2012 $15,796 $15,519 08/2012 $15,796 $15,474 09/2012 $15,907 $15,553 10/2012 $16,018 $15,688 11/2012 $16,117 $15,763 12/2012 $16,005 $15,660 01/2013 $15,892 $15,555 02/2013 $15,917 $15,560 03/2013 $15,967 $15,604 04/2013 $16,092 $15,728 05/2013 $15,380 $15,042 06/2013 $14,699 $14,503 07/2013 $14,862 $14,609 Past performance is not predictive of 08/2013 $14,585 $14,396 future performance. 09/2013 $14,887 $14,605 10/2013 $14,963 $14,685 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE FROM redemption of fund shares. TOTAL RETURN YEAR YEARS 09/18/2006 ---------------------------------------------------------------- Barclays data provided by Barclays -6.59% 7.79% 5.82% Bank PLC. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- DFA SHORT-TERM MUNICIPAL BOND PORTFOLIO VS. THE BOFA MERRILL LYNCH 1-3 YEAR U.S. MUNICIPAL SECURITIES INDEX OCTOBER 31, 2003-OCTOBER 31, 2013 [CHART] Growth of $10,000 DFA Short-Term Municipal The BofA Merrill Lynch 1-3 Year Bond Portfolio U.S. Municipal Securities Index ------------------------ ------------------------------- 10/2003 $10,000 $10,000 11/2003 $10,002 $10,009 12/2003 $10,031 $10,018 01/2004 $10,050 $10,044 02/2004 $10,128 $10,105 03/2004 $10,103 $10,089 04/2004 $ 9,979 $10,022 05/2004 $ 9,952 $10,012 06/2004 $ 9,966 $10,017 07/2004 $10,020 $10,073 08/2004 $10,113 $10,140 09/2004 $10,127 $10,138 10/2004 $10,163 $10,148 11/2004 $10,128 $10,113 12/2004 $10,171 $10,146 01/2005 $10,151 $10,142 02/2005 $10,135 $10,134 03/2005 $10,103 $10,121 04/2005 $10,160 $10,149 05/2005 $10,177 $10,167 06/2005 $10,218 $10,215 07/2005 $10,197 $10,216 08/2005 $10,225 $10,236 09/2005 $10,235 $10,248 10/2005 $10,224 $10,247 11/2005 $10,241 $10,250 12/2005 $10,272 $10,288 01/2006 $10,293 $10,312 02/2006 $10,307 $10,321 03/2006 $10,308 $10,326 04/2006 $10,318 $10,342 05/2006 $10,360 $10,380 06/2006 $10,364 $10,381 07/2006 $10,409 $10,437 08/2006 $10,455 $10,501 09/2006 $10,491 $10,539 10/2006 $10,516 $10,570 11/2006 $10,549 $10,604 12/2006 $10,564 $10,623 01/2007 $10,585 $10,631 02/2007 $10,618 $10,678 03/2007 $10,655 $10,718 04/2007 $10,681 $10,741 05/2007 $10,709 $10,758 06/2007 $10,735 $10,780 07/2007 $10,773 $10,834 08/2007 $10,802 $10,882 09/2007 $10,841 $10,949 10/2007 $10,878 $10,995 11/2007 $10,906 $11,058 12/2007 $10,942 $11,122 01/2008 $10,996 $11,311 02/2008 $10,976 $11,217 03/2008 $11,016 $11,347 04/2008 $11,021 $11,352 05/2008 $11,048 $11,390 06/2008 $11,029 $11,365 07/2008 $11,078 $11,464 08/2008 $11,127 $11,527 09/2008 $11,046 $11,436 10/2008 $11,084 $11,487 11/2008 $11,176 $11,603 12/2008 $11,259 $11,696 01/2009 $11,393 $11,841 02/2009 $11,364 $11,829 03/2009 $11,414 $11,886 04/2009 $11,447 $11,918 05/2009 $11,433 $11,945 06/2009 $11,441 $11,968 07/2009 $11,551 $12,046 08/2009 $11,536 $12,051 09/2009 $11,601 $12,117 10/2009 $11,562 $12,118 11/2009 $11,671 $12,178 12/2009 $11,675 $12,188 01/2010 $11,709 $12,220 02/2010 $11,743 $12,251 03/2010 $11,678 $12,217 04/2010 $11,709 $12,256 05/2010 $11,761 $12,297 06/2010 $11,789 $12,326 07/2010 $11,875 $12,379 08/2010 $11,926 $12,404 09/2010 $11,884 $12,391 10/2010 $11,878 $12,398 11/2010 $11,848 $12,366 12/2010 $11,803 $12,345 01/2011 $11,803 $12,369 02/2011 $11,829 $12,398 03/2011 $11,869 $12,427 04/2011 $11,919 $12,461 05/2011 $11,970 $12,511 06/2011 $11,985 $12,538 07/2011 $12,026 $12,571 08/2011 $12,089 $12,603 09/2011 $12,057 $12,597 10/2011 $12,026 $12,584 11/2011 $12,039 $12,602 12/2011 $12,084 $12,637 01/2012 $12,119 $12,668 02/2012 $12,143 $12,699 03/2012 $12,111 $12,691 04/2012 $12,137 $12,705 05/2012 $12,139 $12,714 06/2012 $12,154 $12,723 07/2012 $12,169 $12,743 08/2012 $12,181 $12,752 09/2012 $12,183 $12,765 10/2012 $12,183 $12,766 11/2012 $12,183 $12,777 12/2012 $12,172 $12,767 01/2013 $12,184 $12,794 02/2013 $12,193 $12,818 03/2013 $12,194 $12,825 04/2013 $12,203 $12,832 05/2013 $12,201 $12,830 06/2013 $12,175 $12,801 Past performance is not predictive of 07/2013 $12,184 $12,830 future performance. 08/2013 $12,181 $12,836 09/2013 $12,201 $12,861 The returns shown do not reflect the 10/2013 $12,234 $12,888 deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. AVERAGE ANNUAL ONE FIVE TEN The Merrill Lynch Indices are used with TOTAL RETURN YEAR YEARS YEARS permission; copyright 2013 Merrill ---------------------------------------------------------- Lynch, Pierce, Fenner & Smith 0.42% 1.99% 2.04% Incorporated; all rights reserved. -------------------------------------------------------------------------------- 8 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- DFA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO VS. S&P INTERMEDIATE-TERM NATIONAL AMT-FREE MUNICIPAL BOND INDEX MARCH 1, 2012-OCTOBER 31, 2013 [CHART] Growth of $10,000 S&P Intermediate-Term DFA Intermediate-Term National AMT-Free Municipal Bond Portfolio Municipal Bond Index ------------------------ --------------------- 03/2012 $10,000 $10,000 03/2012 $ 9,860 $ 9,930 04/2012 $ 9,957 $10,019 05/2012 $10,012 $10,082 06/2012 $ 9,974 $10,071 07/2012 $10,066 $10,198 08/2012 $10,055 $10,209 09/2012 $10,106 $10,267 10/2012 $10,113 $10,277 11/2012 $10,225 $10,414 12/2012 $10,114 $10,281 01/2013 $10,124 $10,327 02/2013 $10,160 $10,367 03/2013 $10,128 $10,318 04/2013 $10,227 $10,409 05/2013 $10,053 $10,290 06/2013 $ 9,828 $10,051 07/2013 $ 9,828 $10,016 08/2013 $ 9,704 $ 9,901 09/2013 $ 9,928 $10,073 Past performance is not predictive of 10/2013 $10,022 $10,152 future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FROM redemption of fund shares. TOTAL RETURN YEAR 03/01/2012 ----------------------------------------------------- The S&P data are provided by -0.91% 0.13% Standard & Poor's Index Services Group. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- DFA CALIFORNIA SHORT-TERM MUNICIPAL BOND PORTFOLIO VS. THE BOFA MERRILL LYNCH 1-3 YEAR CALIFORNIA INCLUDING PUERTO RICO MUNICIPAL SECURITIES INDEX APRIL 2, 2007-OCTOBER 31, 2013 [CHART] Growth of $10,000 The BofA Merrill Lynch DFA California Short-Term 1-3 Year California including Municipal Bond Portfolio Puerto Rico Municipal Securities Index ------------------------ -------------------------------------- 04/2007 $10,000 $10,000 04/2007 $10,010 $10,023 05/2007 $10,038 $10,040 06/2007 $10,061 $10,060 07/2007 $10,090 $10,108 08/2007 $10,124 $10,151 09/2007 $10,155 $10,211 10/2007 $10,189 $10,254 11/2007 $10,223 $10,308 12/2007 $10,253 $10,368 01/2008 $10,315 $10,536 02/2008 $10,291 $10,453 03/2008 $10,340 $10,569 04/2008 $10,337 $10,575 05/2008 $10,354 $10,617 06/2008 $10,340 $10,596 07/2008 $10,389 $10,690 08/2008 $10,450 $10,756 09/2008 $10,346 $10,664 10/2008 $10,371 $10,692 11/2008 $10,479 $10,788 12/2008 $10,574 $10,848 01/2009 $10,720 $10,966 02/2009 $10,696 $10,973 03/2009 $10,733 $11,022 04/2009 $10,776 $11,074 05/2009 $10,763 $11,106 06/2009 $10,750 $11,109 07/2009 $10,865 $11,190 08/2009 $10,875 $11,193 09/2009 $10,946 $11,272 10/2009 $10,880 $11,267 11/2009 $10,994 $11,332 12/2009 $10,988 $11,341 01/2010 $11,020 $11,367 02/2010 $11,055 $11,397 03/2010 $10,995 $11,373 04/2010 $11,047 $11,414 05/2010 $11,084 $11,454 06/2010 $11,111 $11,482 07/2010 $11,205 $11,543 08/2010 $11,253 $11,577 09/2010 $11,226 $11,570 10/2010 $11,222 $11,570 11/2010 $11,161 $11,524 12/2010 $11,119 $11,491 01/2011 $11,130 $11,518 02/2011 $11,155 $11,557 03/2011 $11,195 $11,589 04/2011 $11,233 $11,615 05/2011 $11,293 $11,663 06/2011 $11,309 $11,698 07/2011 $11,347 $11,735 08/2011 $11,399 $11,764 09/2011 $11,382 $11,760 10/2011 $11,342 $11,746 11/2011 $11,363 $11,762 12/2011 $11,417 $11,794 01/2012 $11,450 $11,822 02/2012 $11,473 $11,849 03/2012 $11,456 $11,842 04/2012 $11,470 $11,853 05/2012 $11,483 $11,861 06/2012 $11,487 $11,874 07/2012 $11,512 $11,894 08/2012 $11,523 $11,900 09/2012 $11,525 $11,906 10/2012 $11,525 $11,910 11/2012 $11,535 $11,922 12/2012 $11,525 $11,903 01/2013 $11,536 $11,933 02/2013 $11,542 $11,955 03/2013 $11,554 $11,957 04/2013 $11,564 $11,963 05/2013 $11,551 $11,959 Past performance is not predictive of 06/2013 $11,515 $11,932 future performance. 07/2013 $11,536 $11,966 08/2013 $11,521 $11,957 The returns shown do not reflect the 09/2013 $11,563 $11,965 deduction of taxes that a shareholder 10/2013 $11,605 $11,987 would pay on fund distributions or the redemption of fund shares. AVERAGE ANNUAL ONE FIVE FROM The Merrill Lynch Indices are used with TOTAL RETURN YEAR YEARS 04/02/2007 permission; copyright 2013 Merrill ----------------------------------------------------------------- Lynch, Pierce, Fenner & Smith 0.70% 2.27% 2.29% Incorporated; all rights reserved. -------------------------------------------------------------------------------- 9 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- DFA CALIFORNIA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO VS. S&P INTERMEDIATE-TERM CALIFORNIA AMT-FREE MUNICIPAL BOND INDEX NOVEMBER 29, 2011-OCTOBER 31, 2013 [CHART] Growth of $10,000 DFA California Intermediate- S&P Intermediate-Term Term Municipal Bond Portfolio California AMT-Free Municipal Bond Index ----------------------------- ---------------------------------------- 11/2011 $10,000 $10,000 11/2011 $10,000 $10,005 12/2011 $10,155 $10,197 01/2012 $10,255 $10,401 02/2012 $10,226 $10,408 03/2012 $10,114 $10,321 04/2012 $10,216 $10,424 05/2012 $10,268 $10,495 06/2012 $10,262 $10,480 07/2012 $10,373 $10,610 08/2012 $10,366 $10,628 09/2012 $10,419 $10,703 10/2012 $10,421 $10,718 11/2012 $10,556 $10,874 12/2012 $10,441 $10,745 01/2013 $10,471 $10,798 02/2013 $10,491 $10,839 03/2013 $10,462 $10,790 04/2013 $10,546 $10,881 05/2013 $10,425 $10,759 06/2013 $10,213 $10,505 07/2013 $10,236 $10,471 08/2013 $10,145 $10,388 09/2013 $10,343 $10,607 Past performance is not predictive of 10/2013 $10,430 $10,699 future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FROM redemption of fund shares. TOTAL RETURN YEAR 11/29/2011 ------------------------------------------------------ The S&P data are provided by 0.08% 2.21% Standard & Poor's Index Services Group. -------------------------------------------------------------------------------- 10 DFA INVESTMENT DIMENSIONS GROUP INC. MANAGEMENT'S DISCUSSION AND ANALYSIS FIXED INCOME MARKET REVIEW 12 MONTHS ENDED OCTOBER 31, 2013 U.S. and developed international fixed income markets generally experienced rising interest rates for the year ended October 31, 2013. Throughout the year the U.S. Federal Reserve and other major central banks maintained historically low target short-term rates. This combination led to steepening yield curves in much of the developed world. On average, investment grade credit did well for the year, outperforming government bonds of similar duration. The one-month Treasury bill yield finished the fiscal year at 0.03%, while the yield on 10-year U.S. Treasury notes increased to 2.56%. OCTOBER 31, 2012 OCTOBER 31, 2013 CHANGE ---------------- ---------------- ------ One-Month Treasury Bill (yield)...... 0.09% 0.03% -0.06% Ten-Year U.S. Treasury Notes (yield). 1.69% 2.56% 0.87% ---------- Source: Bloomberg. There is generally an inverse relationship between interest rates and bond prices, such that bond prices fall when interest rates rise. For the fiscal year under review, changes in interest rates and bond prices were more pronounced in some parts of the yield curve than in others. For the 12 months ended October 31, 2013, total returns were 0.10 % for three-month U.S. Treasury bills, -0.74% for five-year U.S. Treasury notes, and -11.69% for 30-year U.S. Treasury bonds (Source: Barclays Treasury Bellwethers). Some of Dimensional Fund Advisors LP's ("Dimensional" or the "Advisor") fixed income strategies are based on a variable-maturity strategy that identifies a maturity range with favorable risk-adjusted expected returns. When the yield curve is flat or inverted, short-term securities are believed to offer the most attractive opportunity on a risk-adjusted basis. When the yield curve is upwardly sloped, maturities are lengthened to achieve higher expected returns associated with longer maturities. During the period under review, the portfolios employing the variable-maturity strategy continued to take term risk, reflecting the upward-sloping eligible yield curves. Some fixed income strategies are based on an approach that varies exposure to credit risk. When credit spreads are narrow, higher-quality securities are believed to offer the more attractive opportunity on a risk-adjusted basis. When credit spreads are wide, additional credit risk is taken to achieve the higher expected returns associated with increased risk. During the period under review, the portfolios employing the variable credit approach continued to take market-like credit risk, reflecting a wide credit spread environment. DFA ONE-YEAR FIXED INCOME PORTFOLIO The DFA One-Year Fixed Income Portfolio seeks to achieve a stable real return in excess of the rate of inflation with a minimum of risk by generally investing in high-quality fixed income securities with an average maturity of one year or less. The investment strategy shifts maturities based on changes in the yield curve. The strategy uses current yields and identifies the maturity range for the highest risk-adjusted expected returns based on potential buy and sell strategies. Maturity targets are shifted based on the Advisor's expectations for term premiums. The average maturity of the Portfolio increased to 351 days on October 31, 2013, from 331 days on October 31, 2012. For the 12 months ended October 31, 2013, the total return was 0.43% for the Portfolio, 0.20% for The BofA Merrill Lynch US 6-Month Treasury Bill Index, and 0.31% for The BofA Merrill Lynch 1-Year US Treasury Note Index. During the period, interest rates decreased slightly in the eligible maturity range. The yield curve remained upwardly sloped causing the Portfolio's maturity structure to remain extended. The Portfolio had significant exposure to U.S. government agency and corporate debt, particularly the financial sector of the corporate bond market. The credit premium on these securities was primarily responsible for the Portfolio's outperformance of its benchmarks. 11 DFA TWO-YEAR GLOBAL FIXED INCOME PORTFOLIO The DFA Two-Year Global Fixed Income Portfolio seeks to maximize risk-adjusted total returns by investing in U.S. and foreign government securities, high-quality corporate securities, and global fixed income instruments maturing in two years or less. The Portfolio hedges substantially all of the currency exposure of its non-US dollar-denominated securities. Eligible countries include but are not limited to Australia, Canada, Denmark, certain EMU countries, Japan, New Zealand, Norway, Singapore, Sweden, Switzerland, the United Kingdom, and the United States. The investment strategy shifts maturities and country allocations based on changes in the eligible yield curves. The strategy uses current yields and identifies the maturity range for the highest risk-adjusted expected returns based on potential buy and sell strategies for each eligible country. Maturity targets and country allocations are shifted based on the Advisor's expectations for term premiums. The average maturity of the Portfolio increased to 1.45 years on October 31, 2013, from 1.20 years on October 31, 2012. For the 12 months ended October 31, 2013, the total return was 0.51% for the Portfolio and 0.75% for the Citigroup World Government Bond Index, 1-2 Years, Currency-Hedged in U.S. Dollar Terms. The Portfolio had an average allocation during the period of approximately 36% of assets in U.S. dollar-denominated securities with the remaining 64% of assets in currency hedged non-U.S. dollar bonds. The Portfolio's lack of exposure to Italian and Spanish government bonds contributed to the Portfolio's underperformance as compared to the Index, as these two sovereign debt markets exhibited very strong returns. The time of valuation of currency can create differences between the performance of the Portfolio and the Index. DFA SELECTIVELY HEDGED GLOBAL FIXED INCOME PORTFOLIO The DFA Selectively Hedged Global Fixed Income Portfolio seeks to maximize total returns by investing in U.S. and foreign government securities, investment grade corporate securities, and global fixed income instruments maturing in five years or less. It hedges foreign currency exposure on a selective basis to capture higher interest rates that may be offered in foreign yield curves. Eligible countries include but are not limited to Australia, Canada, Denmark, certain EMU countries, Japan, New Zealand, Norway, Singapore, Sweden, Switzerland, the United Kingdom, and the United States. The investment strategy shifts maturities and country allocations based on changes in the eligible yield curves. Using current yield curves, the strategy identifies the countries and maturity ranges offering favorable risk-adjusted expected returns. Maturity targets and country allocations are shifted as expected return premiums change. The average maturity of the Portfolio increased to 2.81 years on October 31, 2013, from 2.22 years on October 31, 2012. For the 12 months ended October 31, 2013, total returns were 0.52% for the Portfolio and -2.52% for the Citigroup World Government Bond Index, 1-3 Years, in U.S. Dollar Terms (unhedged). Relative to the Index, the Portfolio's outperformance was primarily due to differences in currency exposure. The Portfolio primarily benefited from its lack of exposure to Japanese yen-denominated bonds during a period when the Japanese yen depreciated versus the U.S. dollar. While the Portfolio held no yen, the average weight for yen-denominated bonds in the Index was approximately 21%. During the fiscal year, the yen declined against the U.S. dollar by approximately 18%. The time of valuation of currency can create differences between the performance of the Portfolio and the Index. DFA SHORT-TERM GOVERNMENT PORTFOLIO The DFA Short-Term Government Portfolio seeks to maximize risk-adjusted total returns by investing in U.S. government and U.S. government agency securities maturing in five years or less. The Portfolio's average maturity will be three years or less. The investment strategy shifts maturities based on changes in the yield curve. The strategy uses current yields and identifies the maturity range for the highest risk-adjusted expected returns based on potential buy and sell strategies. Maturity targets are shifted based on the Advisor's expectations for term premiums. The average maturity of the Portfolio decreased slightly to 2.77 years on October 31, 2013, from 2.89 years on October 31, 2012. For the 12 months ended October 31, 2013, total returns were -0.03% for the Portfolio and 0.35% for The BofA Merrill Lynch 1-5 Year U.S. Treasury & Agency Index. Relative to the Index, the Portfolio's underperformance was primarily due to the Portfolio's slightly longer duration than the index during a period when interest rates increased in the four- to five-year maturity range. 12 DFA FIVE-YEAR GLOBAL FIXED INCOME PORTFOLIO The DFA Five-Year Global Fixed Income Portfolio seeks to provide a market rate of return by investing in fixed income securities with low relative volatility of returns, generally consisting of U.S. and foreign government securities, high-quality corporate securities, and currency-hedged global fixed income instruments maturing in five years or less. All non-US dollar-denominated securities within the Portfolio are currency hedged. Eligible countries include, but are not limited to, Australia, Canada, Denmark, certain EMU countries, Japan, New Zealand, Norway, Sweden, Switzerland, the United Kingdom, and the United States. The investment strategy shifts maturities and country allocations based on changes in the eligible yield curves. The strategy uses current yields and identifies the maturity range for the highest risk-adjusted expected returns based on potential buy and sell strategies for each eligible country. Maturity targets and country allocations are shifted based on the Advisor's expectations for term premiums. The average maturity of the Portfolio increased to 4.10 years on October 31, 2013, from 3.92 years on October 31, 2012. For the 12 months ended October 31, 2013, the total return was 0.63% for the Portfolio and 1.07% for the Citigroup World Government Bond Index, 1-5 Years, Currency-Hedged in U.S. Dollar Terms. The Portfolio had an average allocation during the period of approximately 67% of assets in U.S. Dollar-denominated securities and the majority of the remainder invested in currency-hedged sterling-denominated securities (approximately 11%) and currency-hedged euro denominated securities (approximately 19%). The Portfolio's lack of exposure to Italian and Spanish government bonds contributed to the Portfolio's underperformance as compared to the Index, as these two sovereign debt markets exhibited very strong returns. The Portfolio benefitted from its lack of exposure to Japanese yen-denominated bonds, which represented almost 30% of the benchmark. Japan's relatively flat yield curve offered very little expected risk premium relative to the U.S., U.K., and Eurozone curves. The Portfolio had an average duration of 3.95 years on October 31, 2013, compared to 2.67 years for the Index, which detracted from the Portfolio's relative performance as interest rates rose during the period. The time of valuation of currency can create differences between the performance of the Portfolio and the Index. DFA WORLD EX U.S. GOVERNMENT FIXED INCOME PORTFOLIO The DFA World ex U.S. Government Fixed Income Portfolio seeks to maximize total returns by investing in high-quality debt securities issued primarily by non-U.S. government issuers and supranational organizations and their agencies. The weighted average maturity of the Portfolio generally will not exceed 10 years. The average maturity decreased to 8.36 years on October 31, 2013, from 9.08 years on October 31, 2012. For the 12 months ended October 31, 2013, total returns were 0.23% for the Portfolio and 2.98% for the Citigroup World Government Bond Index ex USA 1-30 Years, Currency-Hedged in U.S. Dollars Terms. The Portfolio's higher average allocation to British pound-denominated securities relative to the benchmark contributed to the Portfolio's underperformance as compared to the Index. Within the Eurozone, the Portfolio's lack of exposure to Italian and Spanish government bonds detracted from relative performance as these two sovereign debt markets exhibited very strong returns. The time of valuation of currency can create differences between the performance of the Portfolio and the Index. DFA INTERMEDIATE GOVERNMENT FIXED INCOME PORTFOLIO The DFA Intermediate Government Fixed Income Portfolio seeks to provide current income from investing generally in U.S. Treasury and government agency issues with maturities of between five and 15 years. The Portfolio will have an average weighted maturity of between three and ten years. The average maturity of the Portfolio decreased to 5.67 years on October 31, 2013, from 6.41 years on October 31, 2012. For the 12 months ended October 31, 2013, total returns were -2.09% for the Portfolio and -1.37% for the Barclays U.S. Government Bond Index. The Portfolio's underperformance was primarily due to differences in the maturity structure of the Portfolio relative to the Index. Specifically, the Portfolio was negatively impacted by its significant underweight at the shorter end of the yield curve, as shorter-term securities outperformed relative to the Index. The Portfolio's overweight in the six- to 10-year maturity range also detracted from returns as these longer-term securities underperformed relative to the Index. This was partially offset by the Portfolio's lack of exposure to U.S. government bonds beyond 15 years in maturity, as these bonds underperformed relative to the Index. 13 DFA SHORT-TERM EXTENDED QUALITY PORTFOLIO The DFA Short-Term Extended Quality Portfolio seeks to maximize total returns by investing in U.S. and foreign corporate debt securities with an investment grade credit rating. The Portfolio generally emphasizes investment grade obligations rated in the lower half of the investment grade spectrum. However, the Portfolio will not emphasize investment grade obligations rated in the lower half of the investment grade spectrum when the Advisor believes the credit risk premium does not warrant the investment. The Portfolio primarily invests in securities that mature within five years from the date of settlement and maintains an average portfolio duration of three years or less. The Portfolio hedges substantially all of its foreign currency exposure. The average maturity of the Portfolio increased slightly to 2.91 years on October 31, 2013, from 2.90 years on October 31, 2012. For the 12 months ended October 31, 2013, total returns were 0.79% for the Portfolio and 0.78% for The BofA Merrill Lynch 1-5 Year U.S. Corporate & Government Index. The Portfolio maintained an average maturity similar to the Index, and performed in line with the Index. The Portfolio's average allocation throughout the fiscal year was approximately 76% of assets in U.S. and foreign corporate securities, 16% of assets in foreign government securities, 4% of assets in supranational securities, and 4% of assets in U.S. government agency securities. The Portfolio was primarily invested in U.S. dollar-denominated securities throughout the year. As of October 31, 2013, U.S. dollar-denominated securities represented approximately 95% of the Portfolio, while currency-hedged euro and sterling-denominated investments represented allocations of 2% and 3%, respectively. DFA INTERMEDIATE-TERM EXTENDED QUALITY PORTFOLIO The DFA Intermediate-Term Extended Quality Portfolio seeks to maximize total returns by investing in U.S. and foreign corporate debt securities with an investment grade credit rating. The Portfolio generally emphasizes investment grade obligations rated in the lower half of the investment grade spectrum. However, the Portfolio will not emphasize investment grade obligations rated in the lower half of the investment grade spectrum when the Advisor believes the credit risk premium does not warrant the investment. The Portfolio primarily invests in securities that mature within 15 years from the date of settlement and maintains average portfolio duration of three to 10 years. The Portfolio hedges substantially all of its foreign currency exposure. The average maturity of the Portfolio decreased to 7.82 years on October 31, 2013, from 8.30 years on October 31, 2012. For the 12 months ended October 31, 2013, total returns were -2.62% for the Portfolio and -1.57% for the Barclays U.S. Credit Index. While the Portfolio's duration approximated the duration of the Index, the Portfolio underperformed the Index. The Portfolio's significant underweight in the 0-5 year maturity range detracted from returns as interest rates rose in the period. Approximately 41% of the Barclays U.S. Credit Index consisted of government and corporate securities with maturities less than five years, while the Portfolio held approximately 4%. On the other hand, the Portfolio's lack of exposure to securities with maturities in excess of 15 years added to the Portfolio's relative performance as long term bonds underperformed in both the government sector and corporate sector. Throughout the fiscal year, an average of 86% of the Portfolio was invested in U.S. and foreign corporate securities, with the remaining spread across foreign government securities, U.S. government agency securities and supranational securities. The Portfolio was primarily invested in U.S. dollar-denominated securities throughout the year. As of October 31, 2013, U.S. dollar-denominated securities represented approximately 98% of the Portfolio, with the remainder in currency-hedged euro-denominated investments. DFA INVESTMENT GRADE PORTFOLIO The DFA Investment Grade Portfolio seeks to maximize total returns through exposure to a broad portfolio of investment grade debt securities of U.S. and non-U.S. corporate and government issuers. To achieve this exposure, the Advisor will generally purchase shares of the DFA Short-Term Extended Quality Portfolio, DFA Intermediate-Term Extended Quality Portfolio, DFA Short-Term Government Portfolio, and the DFA Intermediate Government Portfolio (the "Underlying Funds"). The average maturity of the Portfolio, based on the market value-weighted average holdings of the Underlying Funds, increased to 6.50 years on October 31, 2013, from 6.09 years on October 31, 2012. For the 12 months ended October 31, 2013, total returns were -1.58% for the Portfolio and -1.08% for the Barclays U.S. Aggregate Bond Index. The Portfolio's average allocation during the period was approximately 60% in the extended quality Underlying Funds and 40% in the government funds. The Portfolio's performance relative to 14 the Index was negatively impacted by the Portfolio's lack of exposure to the securitized bond sector which represented approximately 32% of the Index. Also contributing to the Portfolio's underperformance was the differences in the maturity structure of the Portfolio relative to the Index for intermediate government securities. Specifically, while the Portfolio benefitted from its lack of exposure to bonds beyond 15 years in maturity, as these bonds underperformed relative to the Index, its underweight in the short end of the yield curve detracted from performance as these securities outperformed relative to the Index. DFA INFLATION-PROTECTED SECURITIES PORTFOLIO The DFA Inflation-Protected Securities Portfolio seeks to provide inflation protection and current income from investing generally in inflation-protected securities issued by the U.S. government and its agencies and instrumentalities with maturities of between five and 20 years. The Portfolio will have an average weighted maturity of between three and 12 years. The average maturity of the Portfolio decreased to 8.49 years on October 31, 2013, from 9.11 years on October 31, 2012. For the 12 months ended October 31, 2013, total returns were -6.59% for the Portfolio and -6.39% for the Barclays U.S. Treasury Inflation Protected Securities (TIPS) Index (Series-L). The Portfolio's underperformance was primarily due to structural differences with the Index. The Portfolio's much lower allocation to short-term securities, which outperformed intermediate- and long-term securities during the period of rising real interest rates, contributed to the underperformance of the Portfolio as compared to the Index. DFA SHORT-TERM MUNICIPAL BOND PORTFOLIO The DFA Short-Term Municipal Bond Portfolio seeks to provide current income exempt from federal personal income tax by investing in high-quality municipal securities. The weighted average maturity of the Portfolio generally will not exceed three years. The average maturity of the Portfolio decreased to 1.65 years on October 31, 2013, from 1.81 years on October 31, 2012. For the 12 months ended October 31, 2013, total returns were 0.42% for the Portfolio and 0.96% for The BofA Merrill Lynch 1-3 Year U.S. Municipal Securities Index. The Portfolio continued to emphasize higher-quality securities relative to the Index. The Index's average weight in A and BBB rated bonds exceeded 26% while the Portfolio held approximately 1% in similarly rated bonds. For the year ended October 31, 2013, the underweight in A-rated bonds in particular detracted from the Portfolio's performance relative to the Index as these lower-rated municipal securities outperformed. DFA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO The DFA Intermediate-Term Municipal Bond Portfolio seeks to provide current income exempt from federal personal income tax by investing in high-quality municipal securities. The weighted average maturity of the Portfolio generally will not exceed 10 years. The average maturity of the Portfolio increased to 7.04 years on October 31, 2013, from 6.28 years on October 31, 2012. For the 12 months ended October 31, 2013, total returns were -0.91% for the Portfolio and -1.22% for the S&P Intermediate Term National AMT-Free Municipal Bond Index. The Portfolio's lack of exposure to securities with maturities greater than 15 years compared to the Index's approximate 21% average weight in these securities contributed to the Portfolio's outperformance during a period of rising longer-term municipal interest rates. DFA CALIFORNIA SHORT-TERM MUNICIPAL BOND PORTFOLIO The DFA California Short-Term Municipal Bond Portfolio seeks to provide current income exempt from federal personal income taxes and California state personal income taxes by investing in municipal securities. The weighted average maturity of the Portfolio generally will not exceed three years. The average maturity increased to 2.11 years on October 31, 2013, from 1.85 years on October 31, 2012. For the 12 months ended October 31, 2013, total returns were 0.70% for the Portfolio and 0.65% for The BofA Merrill Lynch 1-3 Year California including Puerto Rico Municipal Securities Index. The Portfolio's allocation to bonds rated AA and better contributed to the Portfolio's outperformance. The Portfolio's higher allocation to securities with maturities greater than three years also made a positive contribution to the Portfolio's performance relative to the Index as these securities outperformed the Index. 15 DFA CALIFORNIA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO The DFA California Intermediate-Term Municipal Bond Portfolio seeks to provide current income exempt from federal personal income taxes and California state personal income taxes by investing in municipal securities. The weighted average maturity of the Portfolio generally will not exceed ten years. The average maturity of the Portfolio decreased to 5.90 years on October 31, 2013, from 6.13 years on October 31, 2012. For the 12 months ended October 31, 2013, total returns were 0.08% for the Portfolio and -0.17% for the S&P Intermediate Term California AMT-Free Municipal Bond Index. The Portfolio's lack of exposure to securities with maturities greater than 15 years compared to the Index's approximate 24% average weight in these securities contributed to the Portfolio's outperformance during a period of rising longer-term California municipal interest rates. 16 DFA INVESTMENT DIMENSIONS GROUP INC. DISCLOSURE OF FUND EXPENSES (UNAUDITED) The following Expense Tables are shown so that you can understand the impact of fees on your investment. All mutual funds have operating expenses. As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports, among others. Operating expenses, legal and audit services, which are deducted from a fund's gross income, directly reduce the investment return of the fund. A fund's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs, in dollars, of investing in the fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period. The Expense Tables below illustrate your fund's costs in two ways. ACTUAL FUND RETURN This section helps you to estimate the actual expenses after fee waivers that you paid over the period. The "Ending Account Value" shown is derived from the fund's actual return and "Expenses Paid During Period" reflect the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. To do so, simply divide your account value by $1,000 (for example, a $7,500 account value divided by $1,000 = 7.5), then multiply the result by the number given for your fund under the heading "Expenses Paid During Period." HYPOTHETICAL EXAMPLE FOR COMPARISON PURPOSES This section is intended to help you compare your fund's costs with those of other mutual funds. The hypothetical "Ending Account Value" and "Expenses Paid During Period" are derived from the fund's actual expense ratio and an assumed 5% annual return before expenses. In this case, because the return used is not the fund's actual return, the results do not apply to your investment. The example is useful in making comparisons because the SEC requires all mutual funds to calculate expenses based on a 5% annual return. You can assess your fund's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. Please note that the expenses shown in the tables are meant to highlight and help you compare ongoing costs only and do not reflect any transactional costs, if applicable. The "Annualized Expense Ratio" represents the actual expenses for the six-month period indicated. SIX MONTHS ENDED OCTOBER 31, 2013 EXPENSE TABLES BEGINNING ENDING EXPENSES ACCOUNT ACCOUNT ANNUALIZED PAID VALUE VALUE EXPENSE DURING 05/01/13 10/31/13 RATIO* PERIOD* --------- --------- ---------- -------- DFA ONE-YEAR FIXED INCOME PORTFOLIO ----------------------------------- Actual Fund Return Institutional Class Shares......... $1,000.00 $1,001.80 0.17% $0.86 Hypothetical 5% Annual Return Institutional Class Shares......... $1,000.00 $1,024.35 0.17% $0.87 17 DISCLOSURE OF FUND EXPENSES CONTINUED BEGINNING ENDING EXPENSES ACCOUNT ACCOUNT ANNUALIZED PAID VALUE VALUE EXPENSE DURING 05/01/13 10/31/13 RATIO* PERIOD* --------- --------- ---------- -------- DFA TWO-YEAR GLOBAL FIXED INCOME PORTFOLIO ------------------------------------------ Actual Fund Return Institutional Class Shares.......................... $1,000.00 $1,001.00 0.18% $0.91 Hypothetical 5% Annual Return Institutional Class Shares.......................... $1,000.00 $1,024.30 0.18% $0.92 DFA SELECTIVELY HEDGED GLOBAL FIXED INCOME PORTFOLIO ---------------------------------------------------- Actual Fund Return Institutional Class Shares.......................... $1,000.00 $ 988.40 0.17% $0.85 Hypothetical 5% Annual Return Institutional Class Shares.......................... $1,000.00 $1,024.35 0.17% $0.87 DFA SHORT-TERM GOVERNMENT PORTFOLIO ----------------------------------- Actual Fund Return Institutional Class Shares.......................... $1,000.00 $ 994.60 0.19% $0.96 Hypothetical 5% Annual Return Institutional Class Shares.......................... $1,000.00 $1,024.25 0.19% $0.97 DFA FIVE-YEAR GLOBAL FIXED INCOME PORTFOLIO ------------------------------------------- Actual Fund Return Institutional Class Shares.......................... $1,000.00 $ 994.10 0.28% $1.41 Hypothetical 5% Annual Return Institutional Class Shares.......................... $1,000.00 $1,023.79 0.28% $1.43 DFA WORLD EX U.S. GOVERNMENT FIXED INCOME PORTFOLIO --------------------------------------------------- Actual Fund Return Institutional Class Shares.......................... $1,000.00 $ 974.70 0.20% $1.00 Hypothetical 5% Annual Return Institutional Class Shares.......................... $1,000.00 $1,024.20 0.20% $1.02 DFA INTERMEDIATE GOVERNMENT FIXED INCOME PORTFOLIO -------------------------------------------------- Actual Fund Return Institutional Class Shares.......................... $1,000.00 $ 968.80 0.12% $0.60 Hypothetical 5% Annual Return Institutional Class Shares.......................... $1,000.00 $1,024.60 0.12% $0.61 DFA SHORT-TERM EXTENDED QUALITY PORTFOLIO ----------------------------------------- Actual Fund Return Institutional Class Shares.......................... $1,000.00 $ 999.40 0.22% $1.11 Hypothetical 5% Annual Return Institutional Class Shares.......................... $1,000.00 $1,024.10 0.22% $1.12 DFA INTERMEDIATE-TERM EXTENDED QUALITY PORTFOLIO ------------------------------------------------ Actual Fund Return Institutional Class Shares.......................... $1,000.00 $ 960.00 0.22% $1.09 Hypothetical 5% Annual Return Institutional Class Shares.......................... $1,000.00 $1,024.10 0.22% $1.12 18 DISCLOSURE OF FUND EXPENSES CONTINUED BEGINNING ENDING EXPENSES ACCOUNT ACCOUNT ANNUALIZED PAID VALUE VALUE EXPENSE DURING 05/01/13 10/31/13 RATIO* PERIOD* --------- --------- ---------- -------- DFA INVESTMENT GRADE PORTFOLIO** -------------------------------- Actual Fund Return Institutional Class Shares............................... $1,000.00 $ 973.00 0.22% $1.09 Hypothetical 5% Annual Return Institutional Class Shares............................... $1,000.00 $1,024.10 0.22% $1.12 DFA INFLATION-PROTECTED SECURITIES PORTFOLIO -------------------------------------------- Actual Fund Return Institutional Class Shares............................... $1,000.00 $ 929.80 0.12% $0.58 Hypothetical 5% Annual Return Institutional Class Shares............................... $1,000.00 $1,024.60 0.12% $0.61 DFA SHORT-TERM MUNICIPAL BOND PORTFOLIO --------------------------------------- Actual Fund Return Institutional Class Shares............................... $1,000.00 $1,002.60 0.22% $1.11 Hypothetical 5% Annual Return Institutional Class Shares............................... $1,000.00 $1,024.10 0.22% $1.12 DFA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO ---------------------------------------------- Actual Fund Return Institutional Class Shares............................... $1,000.00 $ 980.00 0.23% $1.15 Hypothetical 5% Annual Return Institutional Class Shares............................... $1,000.00 $1,024.05 0.23% $1.17 DFA CALIFORNIA SHORT-TERM MUNICIPAL BOND PORTFOLIO -------------------------------------------------- Actual Fund Return Institutional Class Shares............................... $1,000.00 $1,003.60 0.23% $1.16 Hypothetical 5% Annual Return Institutional Class Shares............................... $1,000.00 $1,024.05 0.23% $1.17 DFA CALIFORNIA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO --------------------------------------------------------- Actual Fund Return Institutional Class Shares............................... $1,000.00 $ 989.00 0.23% $1.15 Hypothetical 5% Annual Return Institutional Class Shares............................... $1,000.00 $1,024.05 0.23% $1.17 ---------- * Expenses are equal to the fund's annualized expense ratio for the six-month period, multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period (184), then divided by the number of days in the year (365) to reflect the six-month period. **The DFA Investment Grade Portfolio is a Fund of Funds. The expenses shown reflect the direct expenses of the Fund of Funds and the indirect payment of the Fund of Funds' portion of the expenses of its Master Funds (Affiliated Investment Companies). 19 DFA INVESTMENT DIMENSIONS GROUP INC. DISCLOSURE OF PORTFOLIO HOLDINGS (UNAUDITED) The SEC requires that all funds file a complete Schedule of Investments with the SEC for their first and third fiscal quarters on Form N-Q. For DFA Investment Dimensions Group Inc., this would be for the fiscal quarters ending January 31 and July 31. The Form N-Q filing must be made within 60 days of the end of the quarter. DFA Investment Dimensions Group Inc. filed its most recent Form N-Q with the SEC on September 27, 2013. It is available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room). PORTFOLIO HOLDINGS The SEC requires that all funds present their categories of portfolio holdings in a table, chart or graph format in their annual and semi-annual shareholder reports, whether or not a Schedule of Investments is utilized. The following table, which presents portfolio holdings as a percent of total investments before short-term investments and collateral for loaned securities, is provided in compliance with such requirement. The categories shown below represent broad industry sectors. Each industry sector consists of one or more specific industry classifications. FUND OF FUNDS AFFILIATED INVESTMENT COMPANIES ------------------------------- DFA Investment Grade Portfolio. 100.0% FIXED INCOME PORTFOLIOS DFA ONE-YEAR FIXED INCOME PORTFOLIO Corporate.................................... 14.2% Government................................... 17.8% Foreign Corporate............................ 25.9% Foreign Government........................... 33.9% Supranational................................ 8.2% ----- 100.0% DFA TWO-YEAR GLOBAL FIXED INCOME PORTFOLIO Corporate.................................... 6.7% Government................................... 24.5% Foreign Corporate............................ 22.1% Foreign Government........................... 37.8% Supranational................................ 8.9% ----- 100.0% DFA SELECTIVELY HEDGED GLOBAL FIXED INCOME PORTFOLIO Corporate.................................... 53.1% Government................................... 7.3% Foreign Corporate............................ 27.6% Foreign Government........................... 7.7% Supranational................................ 4.3% ----- 100.0% DFA SHORT-TERM GOVERNMENT PORTFOLIO Government................................... 100.0% ----- 100.0% DFA FIVE-YEAR GLOBAL FIXED INCOME PORTFOLIO Corporate.................................... 17.7% Government................................... 5.3% Foreign Corporate............................ 22.0% Foreign Government........................... 47.5% Supranational................................ 7.5% ----- 100.0% DFA WORLD EX U.S. GOVERNMENT FIXED INCOME PORTFOLIO Government................................... 1.8% Foreign Government........................... 87.6% Supranational................................ 10.6% ----- 100.0% DFA INTERMEDIATE GOVERNMENT FIXED INCOME PORTFOLIO Government................................... 100.0% ----- 100.0% DFA SHORT-TERM EXTENDED QUALITY PORTFOLIO Corporate.................................... 62.5% Government................................... 3.9% Foreign Corporate............................ 13.4% Foreign Government........................... 16.9% Supranational................................ 3.3% ----- 100.0% DFA INTERMEDIATE-TERM EXTENDED QUALITY PORTFOLIO Corporate.................................... 74.5% Government................................... 6.5% Foreign Corporate............................ 13.4% Foreign Government........................... 3.7% Supranational................................ 1.9% ----- 100.0% 20 DISCLOSURE OF PORTFOLIO HOLDINGS CONTINUED DFA INFLATION-PROTECTED SECURITIES PORTFOLIO Government................................... 100.0% ----- 100.0% DFA SHORT-TERM MUNICIPAL BOND PORTFOLIO Muni Insured................................. 2.3% Muni G.O. Local.............................. 44.1% Muni G.O. State.............................. 24.3% Muni Revenue................................. 27.0% Muni Pre-Refunded............................ 2.3% ----- 100.0% DFA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO Muni Insured................................. 1.5% Muni G.O. Local.............................. 60.8% Muni G.O. State.............................. 19.8% Muni Revenue................................. 17.9% ----- 100.0% DFA CALIFORNIA SHORT-TERM MUNICIPAL BOND PORTFOLIO Muni Insured................................. 6.9% Muni G.O. Local.............................. 29.2% Muni G.O. State.............................. 20.3% Muni Revenue................................. 40.8% Muni Pre-Refunded............................ 2.8% ----- 100.0% DFA CALIFORNIA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO Muni Insured................................. 16.8% Muni G.O. Local.............................. 45.9% Muni G.O. State.............................. 19.2% Muni Revenue................................. 17.9% Muni Pre-Refunded............................ 0.2% ----- 100.0% 21 DFA ONE-YEAR FIXED INCOME PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 FACE AMOUNT VALUE+ ------ ------ (000) AGENCY OBLIGATIONS -- (11.6%) Federal Farm Credit Bank 0.500%, 06/23/15............................. $ 35,000 $ 35,117,215 Federal Home Loan Bank 2.375%, 03/14/14............................. 77,000 77,646,877 1.375%, 05/28/14............................. 30,000 30,214,590 0.375%, 06/12/14............................. 60,000 60,088,860 2.500%, 06/13/14............................. 3,880 3,936,567 0.375%, 08/28/15............................. 70,000 70,102,410 Federal Home Loan Mortgage Corporation 2.500%, 01/07/14............................. 46,895 47,103,823 1.375%, 02/25/14............................. 4,000 4,016,016 2.500%, 04/23/14............................. 50,000 50,572,700 5.000%, 07/15/14............................. 25,000 25,853,850 4.375%, 07/17/15............................. 38,000 40,650,310 Federal National Mortgage Association 1.250%, 02/27/14............................. 25,000 25,091,775 2.750%, 03/13/14............................. 100,000 100,967,500 1.125%, 06/27/14............................. 12,000 12,078,324 0.500%, 05/27/15............................. 15,000 15,050,850 0.500%, 07/02/15............................. 100,000 100,327,000 # 2.375%, 07/28/15............................. 70,000 72,499,140 4.375%, 10/15/15............................. 95,000 102,424,060 1.625%, 10/26/15............................. 60,000 61,492,320 ------------ TOTAL AGENCY OBLIGATIONS.......................... 935,234,187 ------------ BONDS -- (74.1%) Agence Francaise de Developpement 1.250%, 06/09/14............................. 92,216 92,712,122 ANZ New Zealand Int'l, Ltd. 3.125%, 08/10/15............................. 83,705 87,047,424 Asian Development Bank 2.750%, 05/21/14............................. 50,000 50,694,200 2.625%, 02/09/15............................. 50,000 51,493,000 7.500%, 06/15/15............................. 15,000 16,687,500 0.500%, 08/17/15............................. 5,000 5,013,150 Australia & New Zealand Banking Group, Ltd. 2.125%, 09/19/14............................. 6,868 6,933,933 3.700%, 01/13/15............................. 74,544 77,354,309 Australia & New Zealand Banking Group, Ltd. Floating Rate Note (r) 0.984%, 01/10/14............................. 750 751,203 (r) 0.487%, 01/29/15............................. 60,000 60,148,560 Bank Nederlandse Gemeenten 1.000%, 11/17/14............................. 139,400 140,389,740 3.125%, 01/12/15............................. 26,000 26,843,856 1.375%, 03/23/15............................. 17,070 17,310,687 2.750%, 07/01/15............................. 49,500 51,355,260 FACE AMOUNT VALUE+ ------ ------ (000) Bank of New York Mellon Corp. (The) # 4.300%, 05/15/14............................. $ 14,955 $ 15,269,549 # 3.100%, 01/15/15............................. 43,900 45,269,592 # 2.950%, 06/18/15............................. 9,975 10,365,820 Bank of Nova Scotia # 2.375%, 12/17/13............................. 60,700 60,851,750 Bank of Nova Scotia Floating Rate Note (r) 0.754%, 12/13/13............................. 35,000 35,035,035 (r) 0.765%, 02/10/14............................. 75,000 75,117,675 (r) 0.464%, 10/10/14............................. 14,000 14,022,582 Belgium Government International Bond 2.750%, 03/05/15............................. 10,000 10,295,700 Berkshire Hathaway Finance Corp. # 1.500%, 01/10/14............................. 1,800 1,804,316 Berkshire Hathaway Finance Corp. Floating Rate Note (r) 0.574%, 01/10/14............................. 4,100 4,103,157 Berkshire Hathaway, Inc. # 3.200%, 02/11/15............................. 5,094 5,274,857 Berkshire Hathaway, Inc. Floating Rate Note (r) 0.964%, 08/15/14............................. 12,700 12,774,130 British Columbia, Province of Canada 2.850%, 06/15/15............................. 59,457 61,850,739 Caisse d'Amortissement de la Dette Sociale 1.375%, 01/27/14............................. 45,000 45,117,540 3.500%, 07/01/14............................. 63,000 64,329,552 1.250%, 07/11/14............................. 106,000 106,690,060 Commonwealth Bank of Australia 3.750%, 10/15/14............................. 77,164 79,440,338 # 3.500%, 03/19/15............................. 25,589 26,602,504 1.250%, 09/18/15............................. 11,340 11,473,166 Commonwealth Bank of Australia Floating Rate Note (r) 1.494%, 01/17/14............................. 49,000 49,151,704 (r) 0.984%, 03/17/14............................. 5,609 5,625,642 Cooperatieve Centrale Raiffeisen- Boerenleenbank BA 1.850%, 01/10/14............................. 28,155 28,244,730 # 4.200%, 05/13/14............................. 38,024 38,780,868 1.875%, 12/15/14............................. 27,900 28,315,877 Council Of Europe Development Bank 4.500%, 06/30/14............................. 32,000 32,883,840 # 2.750%, 02/10/15............................. 81,626 84,148,243 4.000%, 04/15/15............................. 25,000 26,303,350 22 DFA ONE-YEAR FIXED INCOME PORTFOLIO CONTINUED FACE AMOUNT VALUE+ ------ ------ (000) DBS Bank Ltd. 2.375%, 09/14/15............................. $ 11,700 $ 12,028,840 Development Bank of Japan, Inc. 2.875%, 04/20/15............................. 24,500 25,375,973 EUROFIMA 4.500%, 03/06/15............................. 85,230 89,903,161 European Bank for Reconstruction & Development 2.750%, 04/20/15............................. 10,000 10,343,880 European Investment Bank 1.500%, 05/15/14............................. 45,000 45,315,675 4.625%, 05/15/14............................. 10,000 10,234,750 4.750%, 10/15/14............................. 30,000 31,282,020 # 2.875%, 01/15/15............................. 48,000 49,496,640 1.125%, 04/15/15............................. 69,500 70,303,420 1.000%, 07/15/15............................. 27,000 27,290,520 Export Development Canada 2.250%, 05/28/15............................. 21,000 21,637,770 General Electric Capital Corp. 2.150%, 01/09/15............................. 103,000 105,045,477 # 4.875%, 03/04/15............................. 55,600 58,754,688 3.500%, 06/29/15............................. 14,732 15,418,099 # 2.375%, 06/30/15............................. 26,425 27,130,151 # 1.625%, 07/02/15............................. 30,000 30,483,030 Inter-American Development Bank 3.000%, 04/22/14............................. 25,000 25,322,800 Japan Finance Organization for Municipalities 4.625%, 04/21/15............................. 35,200 37,325,728 JPMorgan Chase & Co. 5.375%, 01/15/14............................. 8,614 8,700,019 # 2.050%, 01/24/14............................. 27,000 27,109,539 JPMorgan Chase & Co. Floating Rate Note (r) 1.038%, 01/24/14............................. 105,400 105,609,114 (r) 1.004%, 05/02/14............................. 6,300 6,322,277 KFW # 1.500%, 04/04/14............................. 41,000 41,238,620 4.125%, 10/15/14............................. 10,500 10,887,933 1.000%, 01/12/15............................. 130,500 131,639,265 0.625%, 04/24/15............................. 15,000 15,077,535 # 4.375%, 07/21/15............................. 15,000 16,025,850 Kingdom of Denmark 0.625%, 05/22/15............................. 16,000 16,071,776 Kommunalbanken A.S. 1.000%, 06/16/14............................. 13,000 13,057,447 2.875%, 10/27/14............................. 105,500 108,169,150 1.000%, 02/09/15............................. 14,000 14,120,960 0.375%, 04/10/15............................. 15,000 15,003,420 2.750%, 05/05/15............................. 9,550 9,887,879 Kommunekredit 0.750%, 09/02/14............................. 23,000 23,090,620 1.000%, 05/05/15............................. 25,000 25,229,750 FACE AMOUNT VALUE+ ------ ------ (000) Landeskreditbank Baden- Wuerttemberg Foerderbank 1.750%, 02/18/14............................. $ 40,000 $ 40,168,400 Landwirtschaftliche Rentenbank 2.250%, 03/11/14............................. 4,650 4,683,034 4.000%, 02/02/15............................. 14,500 15,160,620 3.125%, 07/15/15............................. 70,734 73,967,251 Manitoba, Province of Canada 1.375%, 04/28/14............................. 29,790 29,943,270 2.625%, 07/15/15............................. 28,674 29,734,364 Microsoft Corp. 1.625%, 09/25/15............................. 3,800 3,885,538 National Australia Bank, Ltd. 2.250%, 04/11/14............................. 1,600 1,613,274 # 3.750%, 03/02/15............................. 26,150 27,214,305 # 2.000%, 03/09/15............................. 91,410 93,223,483 1.600%, 08/07/15............................. 25,062 25,540,033 National Australia Bank, Ltd. Floating Rate Note (r) 1.494%, 01/17/14............................. 16,000 16,044,496 (r) 1.436%, 01/30/14............................. 51,930 52,111,859 (r) 1.415%, 02/14/14............................. 23,750 23,831,130 Nederlandse Waterschapsbank NV 1.375%, 05/16/14............................. 147,630 148,445,656 # 1.250%, 10/20/14............................. 50,650 51,118,512 3.000%, 03/17/15............................. 36,212 37,505,637 Network Rail Infrastructure Finance P.L.C. 0.875%, 01/20/15............................. 25,000 25,155,100 Nordea Bank AB # 3.700%, 11/13/14............................. 18,000 18,595,800 # 2.250%, 03/20/15............................. 16,135 16,489,970 Nordea Bank Finland P.L.C. Floating Rate Note (r) 1.123%, 04/09/14............................. 80,000 80,347,280 (r) 0.744%, 10/15/14............................. 90,000 90,405,900 Nordic Investment Bank # 2.625%, 10/06/14............................. 8,400 8,583,204 # 2.500%, 07/15/15............................. 3,100 3,207,880 NRW Bank 1.625%, 01/17/14............................. 10,872 10,902,289 2.500%, 02/19/14............................. 6,300 6,318,522 1.250%, 05/15/15............................. 69,000 69,856,704 NRW Bank Floating Rate Note (r) 0.580%, 12/01/14............................. 24,000 24,069,600 Oesterreichische Kontrollbank AG 1.375%, 01/21/14............................. 3,244 3,252,078 # 1.125%, 07/06/15............................. 136,155 137,843,322 Ontario, Province of Canada 4.500%, 02/03/15............................. 108,100 113,675,798 2.950%, 02/05/15............................. 26,025 26,868,470 0.950%, 05/26/15............................. 53,000 53,446,790 2.700%, 06/16/15............................. 42,000 43,532,160 23 DFA ONE-YEAR FIXED INCOME PORTFOLIO CONTINUED FACE AMOUNT VALUE+ ------ ------ (000) Quebec, Province of Canada # 4.875%, 05/05/14............................. $ 39,400 $ 40,321,369 4.600%, 05/26/15............................. 16,399 17,461,983 Rabobank Nederland 0.600%, 04/29/15............................. 140,600 140,188,604 Royal Bank of Canada # 1.450%, 10/30/14............................. 65,875 66,620,376 # 1.150%, 03/13/15............................. 64,798 65,395,114 0.550%, 05/01/15............................. 105,800 105,804,444 Societe Financement de l'Economie Francaise 3.375%, 05/05/14............................. 10,000 10,156,460 2.875%, 09/22/14............................. 201,000 205,571,946 State of North Rhine- Westphalia 1.625%, 09/17/14............................. 43,900 44,374,296 Svensk Exportkredit AB # 3.250%, 09/16/14............................. 45,368 46,542,124 # 0.625%, 09/04/15............................. 45,000 45,152,550 Svensk Exportkredit AB Floating Rate Note (r) 0.400%, 03/23/14............................. 24,000 24,013,680 Svenska Handelsbanken AB 4.875%, 06/10/14............................. 10,430 10,707,375 Svenska Handelsbanken AB Floating Rate Note (r) 0.423%, 10/06/14............................. 95,000 95,135,375 (r) 0.536%, 01/16/15............................. 81,000 81,194,157 Sweden Government International Bond 1.000%, 06/03/14............................. 2,300 2,311,730 Toronto-Dominion Bank (The) # 1.375%, 07/14/14............................. 27,000 27,209,574 Toronto-Dominion Bank (The) Floating Rate Note (r) 0.445%, 05/01/15............................. 145,360 145,468,148 Total Capital Canada, Ltd. Floating Rate Note #(r) 0.624%, 01/17/14............................. 45,000 45,044,235 Total Capital SA 3.000%, 06/24/15............................. 10,000 10,407,290 Toyota Motor Credit Corp. 1.250%, 11/17/14............................. 37,000 37,359,640 # 1.000%, 02/17/15............................. 84,340 85,022,648 # 0.875%, 07/17/15............................. 10,090 10,161,306 Toyota Motor Credit Corp. Floating Rate Note (r) 0.644%, 01/17/14............................. 13,500 13,517,509 (r) 0.433%, 11/21/14............................. 38,300 38,377,060 (r) 0.430%, 12/05/14............................. 16,200 16,221,983 (r) 0.393%, 04/08/15............................. 39,500 39,491,626 US Bancorp 2.875%, 11/20/14............................. 23,400 24,012,261 Wal-Mart Stores, Inc. # 1.625%, 04/15/14............................. 13,530 13,620,624 3.200%, 05/15/14............................. 2,900 2,947,157 FACE AMOUNT VALUE+ ------ ------ (000) Westpac Banking Corp. 4.200%, 02/27/15............................. $ 5,600 $ 5,875,156 3.000%, 08/04/15............................. 18,417 19,194,805 Westpac Banking Corp. Floating Rate Note (r) 0.988%, 12/09/13............................. 4,705 4,708,496 (r) 1.215%, 02/14/14............................. 2,225 2,231,203 #(r) 0.978%, 03/31/14............................. 60,000 60,196,560 -------------- TOTAL BONDS........................................ 5,952,571,629 -------------- U.S. TREASURY OBLIGATIONS -- (5.7%) U.S. Treasury Notes 1.875%, 06/30/15............................. 55,000 56,467,400 0.250%, 07/15/15............................. 328,500 328,435,943 1.750%, 07/31/15............................. 30,000 30,771,090 1.250%, 08/31/15............................. 45,000 45,792,765 -------------- TOTAL U.S. TREASURY OBLIGATIONS.................... 461,467,198 -------------- COMMERCIAL PAPER -- (5.8%) Caisse des Depots et Consignations ## 0.230%, 12/04/13............................. 20,000 19,997,110 0.250%, 12/04/13............................. 100,000 99,985,550 DBS Bank Ltd. ## 0.170%, 12/05/13............................. 25,000 24,997,010 ## 0.250%, 01/03/14............................. 100,000 99,972,800 Standard Chartered Bank ## 0.180%, 11/05/13............................. 50,000 49,999,585 ## 0.180%, 11/14/13............................. 20,000 19,999,394 ## 0.180%, 11/18/13............................. 40,000 39,998,300 ## 0.180%, 11/19/13............................. 20,000 19,999,082 ## 0.170%, 11/25/13............................. 35,000 34,997,595 ## 0.170%, 12/04/13............................. 25,000 24,997,270 United Overseas Bank, Ltd. ## 0.170%, 12/09/13............................. 30,000 29,995,905 -------------- TOTAL COMMERCIAL PAPER............................. 464,939,601 -------------- SHARES ------ TEMPORARY CASH INVESTMENTS -- (0.9%) State Street Institutional Liquid Reserves, 0.073%...................................... 68,819,027 68,819,027 -------------- SHARES/ FACE AMOUNT ------- (000) SECURITIES LENDING COLLATERAL -- (1.9%) (S)@ DFA Short Term Investment Fund............... 13,326,372 154,186,127 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $8,027,082,509)............................ $8,037,217,769 ============== 24 DFA ONE-YEAR FIXED INCOME PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ------------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ----------- -------------- ------- -------------- Agency Obligations............ -- $ 935,234,187 -- $ 935,234,187 Bonds......................... -- 5,952,571,629 -- 5,952,571,629 U.S. Treasury Obligations..... -- 461,467,198 -- 461,467,198 Commercial Paper.............. -- 464,939,601 -- 464,939,601 Temporary Cash Investments.... $68,819,027 -- -- 68,819,027 Securities Lending Collateral. -- 154,186,127 -- 154,186,127 ----------- -------------- -- -------------- TOTAL......................... $68,819,027 $7,968,398,742 -- $8,037,217,769 =========== ============== == ============== See accompanying Notes to Financial Statements. 25 DFA TWO-YEAR GLOBAL FIXED INCOME PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 FACE AMOUNT^ VALUE+ ------- ------ (000) BONDS -- (73.2%) AUSTRALIA -- (6.8%) Australia & New Zealand Banking Group, Ltd. 3.700%, 01/13/15............................. $ 20,200 $ 20,961,540 Commonwealth Bank of Australia 3.500%, 03/19/15............................. 53,000 55,099,171 National Australia Bank, Ltd. 3.500%, 01/23/15............................. EUR 105,456 148,297,585 3.750%, 03/02/15............................. 8,440 8,783,508 Toyota Finance Australia, Ltd. 3.550%, 03/24/14............................. NZD 3,000 2,480,331 Westpac Banking Corp. 3.750%, 12/01/14............................. CAD 130,551 128,068,071 # 1.125%, 09/25/15............................. 21,620 21,839,162 ------------ TOTAL AUSTRALIA.................................. 385,529,368 ------------ AUSTRIA -- (2.0%) Oesterreichische Kontrollbank AG 1.375%, 01/21/14............................. 18,000 18,044,820 4.500%, 03/09/15............................. 7,000 7,389,060 1.125%, 07/06/15............................. 89,493 90,602,713 ------------ TOTAL AUSTRIA.................................... 116,036,593 ------------ BELGIUM -- (2.9%) Belgium Government Bond 3.750%, 09/28/15............................. EUR 110,000 159,116,485 Belgium Government International Bond 2.750%, 03/05/15............................. 5,000 5,147,850 ------------ TOTAL BELGIUM.................................... 164,264,335 ------------ CANADA -- (10.8%) Bank of Nova Scotia 3.430%, 07/16/14............................. CAD 114,500 111,440,517 3.350%, 11/18/14............................. CAD 17,500 17,118,160 British Columbia, Province of Canada 7.500%, 06/09/14............................. CAD 43,000 42,819,776 Manitoba, Province of Canada 4.800%, 12/03/14............................. CAD 60,000 59,838,297 Ontario, Province of Canada 2.950%, 02/05/15............................. 100,600 103,860,446 2.700%, 06/16/15............................. 44,152 45,762,665 1.875%, 09/15/15............................. 15,000 15,388,125 Quebec, Province of Canada 4.875%, 05/05/14............................. 22,500 23,026,162 Royal Bank of Canada 4.710%, 12/22/14............................. CAD 78,100 77,630,344 2.050%, 01/13/15............................. CAD 87,000 83,971,918 FACE AMOUNT^ VALUE+ ------- ------ (000) CANADA -- (Continued) Total Capital Canada, Ltd. Floating Rate Note (r) 0.624%, 01/17/14............................. $ 31,540 $ 31,571,004 ------------ TOTAL CANADA...................................... 612,427,414 ------------ DENMARK -- (1.2%) Denmark Government Bond 2.000%, 11/15/14............................. DKK 232,000 43,074,607 Kingdom of Denmark 0.625%, 05/22/15............................. 27,570 27,693,679 ------------ TOTAL DENMARK..................................... 70,768,286 ------------ FINLAND -- (0.3%) Nordea Bank Finland P.L.C. 0.708%, 01/27/14............................. 16,000 16,023,648 ------------ FRANCE -- (4.1%) Caisse d'Amortissement de la Dette Sociale 3.500%, 07/01/14............................. 71,662 73,174,355 France Government Bond OAT 3.000%, 10/25/15............................. EUR 110,000 157,373,542 ------------ TOTAL FRANCE...................................... 230,547,897 ------------ GERMANY -- (6.1%) KFW 2.875%, 08/26/14............................. CAD 10,598 10,289,020 4.950%, 10/14/14............................. CAD 61,070 60,539,924 0.625%, 04/24/15............................. 15,000 15,077,535 0.500%, 09/30/15............................. 78,000 78,211,692 Landwirtschaftliche Rentenbank 3.125%, 07/15/15............................. 45,000 47,056,950 NRW Bank 1.250%, 05/15/15............................. 70,535 71,410,763 State of North Rhine-Westphalia 1.500%, 01/13/15............................. 63,500 64,290,638 ------------ TOTAL GERMANY..................................... 346,876,522 ------------ IRELAND -- (0.9%) GE Capital European Funding 2.875%, 09/17/15............................. EUR 38,195 53,854,155 ------------ JAPAN -- (0.5%) Japan Finance Organization for Municipalities 1.350%, 11/26/13............................. JPY 2,941,000 29,930,066 ------------ 26 DFA TWO-YEAR GLOBAL FIXED INCOME PORTFOLIO CONTINUED FACE AMOUNT^ VALUE+ ------- ------ (000) NETHERLANDS -- (9.5%) Bank Nederlandse Gemeenten 1.375%, 03/23/15............................. $ 106,876 $108,382,952 2.750%, 07/01/15............................. 48,834 50,664,298 Cooperatieve Centrale Raiffeisen-Boerenleenbank BA 6.250%, 07/10/14............................. NZD 11,167 9,394,583 3.000%, 02/16/15............................. EUR 56,000 78,474,194 2.125%, 10/13/15............................. 55,000 56,466,685 Nederlandse Waterschapsbank NV 2.000%, 09/09/15............................. 71,105 73,038,061 Netherlands Government Bond 0.250%, 09/12/15............................. 161,824 161,405,523 ------------ TOTAL NETHERLANDS................................ 537,826,296 ------------ NEW ZEALAND -- (3.5%) ANZ New Zealand Int'l, Ltd. 3.125%, 08/10/15............................. 31,890 33,163,400 New Zealand Government Bond 6.000%, 04/15/15............................. NZD 185,000 159,157,695 Westpac Securities NZ, Ltd. 3.450%, 07/28/14............................. 4,300 4,400,276 ------------ TOTAL NEW ZEALAND................................ 196,721,371 ------------ NORWAY -- (2.7%) Kommunalbanken A.S. 2.875%, 10/27/14............................. 68,270 69,997,231 1.000%, 02/09/15............................. 39,000 39,336,960 0.375%, 04/10/15............................. 40,000 40,009,120 2.750%, 05/05/15............................. 1,000 1,035,380 ------------ TOTAL NORWAY..................................... 150,378,691 ------------ SINGAPORE -- (0.5%) DBS Bank Ltd. 2.375%, 09/14/15............................. 26,200 26,936,377 ------------ SUPRANATIONAL ORGANIZATION OBLIGATIONS -- (8.7%) Asian Development Bank 3.375%, 05/20/14............................. NOK 236,600 40,055,133 0.500%, 08/17/15............................. 28,000 28,073,640 0.750%, 09/01/15............................. 65,000 65,439,660 Council Of Europe Development Bank 5.500%, 06/12/14............................. NZD 24,370 20,392,670 3.375%, 12/08/14............................. GBP 10,397 17,166,857 2.750%, 02/10/15............................. 6,000 6,185,400 4.000%, 04/15/15............................. 111,439 117,248,761 EUROFIMA 4.500%, 03/06/15............................. 37,000 39,028,710 FACE AMOUNT^ VALUE+ ------- ------ (000) SUPRANATIONAL ORGANIZATION OBLIGATIONS -- (Continued) European Investment Bank 6.500%, 09/10/14............................. NZD 86,478 $ 73,317,801 2.875%, 01/15/15............................. 30,000 30,935,400 # 2.750%, 03/23/15............................. 50,000 51,702,500 Nordic Investment Bank 5.250%, 02/26/14............................. NZD 1,400 1,164,747 -------------- TOTAL SUPRANATIONAL ORGANIZATION OBLIGATIONS..... 490,711,279 -------------- SWEDEN -- (6.2%) Kommuninvest I Sverige AB 3.600%, 05/21/14............................. NZD 7,300 6,037,577 0.625%, 09/18/15............................. 47,000 47,160,270 Nordea Bank AB 4.500%, 05/12/14............................. EUR 24,628 34,163,332 2.750%, 08/11/15............................. EUR 48,562 68,453,607 Svensk Exportkredit AB 7.625%, 06/30/14............................. NZD 5,800 4,924,319 3.250%, 09/16/14............................. 7,782 7,983,398 # 0.625%, 09/04/15............................. 63,400 63,614,926 Svenska Handelsbanken AB 4.875%, 03/25/14............................. EUR 64,668 89,348,262 1.500%, 07/06/15............................. EUR 20,800 28,688,526 -------------- TOTAL SWEDEN..................................... 350,374,217 -------------- UNITED STATES -- (6.5%) General Electric Capital Corp. 2.150%, 01/09/15............................. $ 78,400 79,956,946 1.625%, 07/02/15............................. 14,373 14,604,420 General Electric Co. # 0.850%, 10/09/15............................. 16,070 16,132,335 JPMorgan Chase & Co. # 2.050%, 01/24/14............................. 44,000 44,178,508 Microsoft Corp. 2.950%, 06/01/14............................. 38,274 38,847,383 Nestle Holdings, Inc. 2.125%, 03/12/14............................. 14,168 14,258,675 Toyota Motor Credit Corp. 1.000%, 02/17/15............................. 53,989 54,425,987 # 0.875%, 07/17/15............................. 105,280 106,024,014 -------------- TOTAL UNITED STATES.............................. 368,428,268 -------------- TOTAL BONDS...................................... 4,147,634,783 -------------- AGENCY OBLIGATIONS -- (14.5%) Federal Home Loan Bank 1.750%, 09/11/15............................. 101,800 104,456,064 Federal Home Loan Mortgage Corporation 4.375%, 07/17/15............................. 50,000 53,487,250 0.500%, 08/28/15............................. 7,500 7,522,582 1.750%, 09/10/15............................. 50,000 51,286,950 27 DFA TWO-YEAR GLOBAL FIXED INCOME PORTFOLIO CONTINUED FACE AMOUNT^ VALUE+ ------- ------ (000) Federal National Mortgage Association # 0.500%, 05/27/15............................. $151,050 $151,562,059 # 0.500%, 07/02/15............................. 160,000 160,523,200 # 2.375%, 07/28/15............................. 55,000 56,963,610 0.500%, 09/28/15............................. 120,250 120,588,985 # 4.375%, 10/15/15............................. 105,000 113,205,540 ------------ TOTAL AGENCY OBLIGATIONS......................... 819,596,240 ------------ U.S. TREASURY OBLIGATIONS -- (9.5%) U.S. Treasury Notes 1.750%, 07/31/15............................. 75,000 76,927,725 4.250%, 08/15/15............................. 150,000 160,634,700 0.250%, 10/15/15............................. 300,000 299,683,500 ------------ TOTAL U.S. TREASURY OBLIGATIONS.................. 537,245,925 ------------ SHARES/ FACE AMOUNT VALUE+ ------- ------ (000) SECURITIES LENDING COLLATERAL -- (2.8%) (S)@ DFA Short Term Investment Fund............... 13,656,007 $ 158,000,000 @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $427,256 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $386,376) to be repurchased at $378,801.. $ 379 378,800 -------------- TOTAL SECURITIES LENDING COLLATERAL................ 158,378,800 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $5,687,591,079)............................ $5,662,855,748 ============== Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ---------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ------- -------------- ------- -------------- Bonds Australia.............................. -- $ 385,529,368 -- $ 385,529,368 Austria................................ -- 116,036,593 -- 116,036,593 Belgium................................ -- 164,264,335 -- 164,264,335 Canada................................. -- 612,427,414 -- 612,427,414 Denmark................................ -- 70,768,286 -- 70,768,286 Finland................................ -- 16,023,648 -- 16,023,648 France................................. -- 230,547,897 -- 230,547,897 Germany................................ -- 346,876,522 -- 346,876,522 Ireland................................ -- 53,854,155 -- 53,854,155 Japan.................................. -- 29,930,066 -- 29,930,066 Netherlands............................ -- 537,826,296 -- 537,826,296 New Zealand............................ -- 196,721,371 -- 196,721,371 Norway................................. -- 150,378,691 -- 150,378,691 Singapore.............................. -- 26,936,377 -- 26,936,377 Supranational Organization Obligations. -- 490,711,279 -- 490,711,279 Sweden................................. -- 350,374,217 -- 350,374,217 United States.......................... -- 368,428,268 -- 368,428,268 Agency Obligations....................... -- 819,596,240 -- 819,596,240 U.S. Treasury Obligations................ -- 537,245,925 -- 537,245,925 Securities Lending Collateral............ -- 158,378,800 -- 158,378,800 Forward Currency Contracts**............. -- (10,592,235) -- (10,592,235) -- -------------- -- -------------- TOTAL.................................... -- $5,652,263,513 -- $5,652,263,513 == ============== == ============== **Not reflected in the Schedule of Investments, valued at the unrealized appreciation/(depreciation) on the investment. (Note G) See accompanying Notes to Financial Statements. 28 DFA SELECTIVELY HEDGED GLOBAL FIXED INCOME PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 FACE AMOUNT^ VALUE+ ------- ------ (000) BONDS -- (92.6%) AUSTRALIA -- (7.0%) Commonwealth Bank of Australia 1.900%, 09/18/17............................. $ 10,000 $10,128,050 National Australia Bank, Ltd. 6.750%, 09/16/14............................. AUD 12,146 11,855,768 1.600%, 08/07/15............................. 15,000 15,286,110 Rio Tinto Finance USA, Ltd. 2.500%, 05/20/16............................. 2,525 2,606,133 Toyota Finance Australia, Ltd. 3.980%, 01/23/14............................. NZD 9,000 7,444,599 Westpac Banking Corp. 6.375%, 12/10/13............................. AUD 10,000 9,477,568 2.000%, 08/14/17............................. 10,425 10,608,762 ----------- TOTAL AUSTRALIA.................................. 67,406,990 ----------- CANADA -- (7.8%) Bank of Nova Scotia 2.550%, 01/12/17............................. 10,000 10,418,280 Brookfield Asset Management, Inc. 5.800%, 04/25/17............................. 4,150 4,564,506 Enbridge, Inc. 5.800%, 06/15/14............................. 5,000 5,143,370 EnCana Holdings Finance Corp. 5.800%, 05/01/14............................. 4,000 4,101,364 Husky Energy, Inc. 5.900%, 06/15/14............................. 5,000 5,158,480 Royal Bank of Canada 2.050%, 01/13/15............................. CAD 10,000 9,651,944 Teck Resources, Ltd. 2.500%, 02/01/18............................. 5,000 5,020,440 Thomson Reuters Corp. 6.500%, 07/15/18............................. 4,700 5,532,765 Toronto-Dominion Bank (The) 1.400%, 04/30/18............................. 19,615 19,246,650 TransAlta Corp. 4.750%, 01/15/15............................. 4,000 4,167,000 TransCanada PipeLines, Ltd. 3.400%, 06/01/15............................. 2,105 2,197,521 ----------- TOTAL CANADA..................................... 75,202,320 ----------- FINLAND -- (1.4%) Municipality Finance P.L.C. 2.000%, 05/28/14............................. SEK 90,000 13,923,504 ----------- FRANCE -- (4.1%) BNP Paribas SA 2.375%, 09/14/17............................. 8,000 8,177,392 France Telecom SA 2.750%, 09/14/16............................. 8,000 8,285,776 FACE AMOUNT^ VALUE+ ------- ------ (000) FRANCE -- (Continued) Societe Generale SA 2.750%, 10/12/17............................. $ 8,000 $ 8,276,376 Total Capital International SA 1.550%, 06/28/17............................. 15,000 15,150,480 ----------- TOTAL FRANCE..................................... 39,890,024 ----------- GERMANY -- (1.8%) Deutsche Bank AG 3.250%, 01/11/16............................. 4,000 4,201,064 6.000%, 09/01/17............................. 4,000 4,614,928 KFW 3.750%, 08/16/17............................. NZD 10,000 8,102,315 State of North Rhine-Westphalia 3.250%, 05/28/14............................. NOK 3,670 620,748 ----------- TOTAL GERMANY.................................... 17,539,055 ----------- JAPAN -- (1.1%) Nomura Holdings, Inc. 5.000%, 03/04/15............................. 5,770 6,050,832 Sumitomo Mitsui Banking Corp. 1.350%, 07/18/15............................. 4,000 4,037,396 ----------- TOTAL JAPAN...................................... 10,088,228 ----------- NETHERLANDS -- (2.6%) Bank Nederlandse Gemeenten 6.250%, 11/12/13............................. AUD 3,000 2,836,939 3.750%, 11/25/13............................. NOK 25,000 4,203,753 5.375%, 12/16/13............................. AUD 7,500 7,103,342 Cooperatieve Centrale Raiffeisen-Boerenleenbank BA 5.500%, 12/16/13............................. NZD 7,000 5,796,205 6.250%, 07/10/14............................. NZD 6,500 5,468,325 ----------- TOTAL NETHERLANDS................................ 25,408,564 ----------- NEW ZEALAND -- (1.3%) New Zealand Government Bond 6.000%, 04/15/15............................. NZD 15,000 12,904,678 ----------- NORWAY -- (2.1%) Kommunalbanken A.S. 3.500%, 02/24/14............................. NOK 57,000 9,618,298 Statoil ASA 3.125%, 08/17/17............................. 10,000 10,642,500 ----------- TOTAL NORWAY..................................... 20,260,798 ----------- SINGAPORE -- (0.6%) Singapore Government Bond 0.500%, 04/01/18............................. SGD 7,000 5,589,383 ----------- 29 DFA SELECTIVELY HEDGED GLOBAL FIXED INCOME PORTFOLIO CONTINUED FACE AMOUNT^ VALUE+ ------- ------ (000) SUPRANATIONAL ORGANIZATION OBLIGATIONS -- (4.2%) EUROFIMA 6.000%, 01/28/14............................. AUD 12,595 $11,990,161 European Investment Bank 6.500%, 09/10/14............................. NZD 3,000 2,543,461 1.625%, 06/15/17............................. 15,000 15,313,560 International Bank for Reconstruction & Development 2.250%, 11/08/13............................. SEK 20,800 3,209,890 Nordic Investment Bank 5.250%, 02/26/14............................. NZD 2,542 2,114,847 7.500%, 04/15/15............................. NZD 6,500 5,676,960 ----------- TOTAL SUPRANATIONAL ORGANIZATION OBLIGATIONS..... 40,848,879 ----------- SWEDEN -- (0.9%) Kommuninvest I Sverige AB 3.600%, 05/21/14............................. NZD 5,000 4,135,327 Svensk Exportkredit AB 7.625%, 06/30/14............................. NZD 5,575 4,733,289 ----------- TOTAL SWEDEN..................................... 8,868,616 ----------- SWITZERLAND -- (1.6%) Credit Suisse New York 3.500%, 03/23/15............................. 5,000 5,198,220 Noble Holding International, Ltd. 2.500%, 03/15/17............................. 3,500 3,551,142 UBS AG 3.875%, 01/15/15............................. 3,993 4,145,593 5.875%, 12/20/17............................. 2,325 2,695,205 ----------- TOTAL SWITZERLAND................................ 15,590,160 ----------- UNITED KINGDOM -- (3.0%) Barclays Bank P.L.C. 5.000%, 09/22/16............................. 6,000 6,640,164 BP Capital Markets P.L.C. 3.125%, 10/01/15............................. 5,000 5,230,345 Lloyds TSB Bank P.L.C. 4.200%, 03/28/17............................. 4,000 4,329,024 Rio Tinto Finance USA P.L.C. 1.625%, 08/21/17............................. 2,628 2,621,963 Royal Bank of Scotland Group P.L.C. 2.550%, 09/18/15............................. 4,000 4,096,720 Vodafone Group P.L.C. 5.625%, 02/27/17............................. 5,000 5,638,165 ----------- TOTAL UNITED KINGDOM............................. 28,556,381 ----------- UNITED STATES -- (53.1%) AbbVie, Inc. 1.200%, 11/06/15............................. $ 7,215 7,265,447 FACE AMOUNT^ VALUE+ ------- ------ (000) UNITED STATES -- (Continued) Actavis, Inc. 1.875%, 10/01/17............................. $ 4,000 $ 3,989,112 Aetna, Inc. 6.000%, 06/15/16............................. 5,000 5,640,065 Aflac, Inc. 2.650%, 02/15/17............................. 4,000 4,155,996 Agilent Technologies, Inc. 6.500%, 11/01/17............................. 3,580 4,178,580 Air Products & Chemicals, Inc. 2.000%, 08/02/16............................. 4,000 4,108,008 Airgas, Inc. 4.500%, 09/15/14............................. 7,350 7,592,726 Allstate Corp. (The) 5.000%, 08/15/14............................. 3,300 3,416,714 American Express Co. 6.150%, 08/28/17............................. 5,000 5,835,535 7.000%, 03/19/18............................. 2,000 2,419,626 American International Group, Inc. 5.850%, 01/16/18............................. 7,000 8,077,265 Ameriprise Financial, Inc. 5.650%, 11/15/15............................. 2,438 2,672,911 Anadarko Petroleum Corp. 5.950%, 09/15/16............................. 4,000 4,518,376 Apple, Inc. 1.000%, 05/03/18............................. 25,000 24,269,650 Assurant, Inc. 2.500%, 03/15/18............................. 5,000 4,959,535 AT&T, Inc. 1.400%, 12/01/17............................. 6,000 5,918,358 Autodesk, Inc. 1.950%, 12/15/17............................. 4,000 3,933,356 Bank of America Corp. 4.500%, 04/01/15............................. 4,000 4,197,352 6.000%, 09/01/17............................. 4,000 4,590,980 BB&T Corp. 1.450%, 01/12/18............................. 9,000 8,838,576 Berkshire Hathaway Finance Corp. 1.600%, 05/15/17............................. 10,000 10,079,780 Berkshire Hathaway, Inc. 1.550%, 02/09/18............................. 10,000 9,959,950 BlackRock, Inc. 6.250%, 09/15/17............................. 5,000 5,855,270 Buckeye Partners L.P. 6.050%, 01/15/18............................. 1,880 2,134,678 Burlington Northern Santa Fe LLC 7.000%, 02/01/14............................. 1,950 1,980,118 Capital One Financial Corp. 6.750%, 09/15/17............................. 4,000 4,715,956 Cardinal Health, Inc. 1.700%, 03/15/18............................. 9,000 8,822,034 Cigna Corp. 5.375%, 03/15/17............................. 1,190 1,335,262 30 DFA SELECTIVELY HEDGED GLOBAL FIXED INCOME PORTFOLIO CONTINUED FACE AMOUNT^ VALUE+ ------- ------ (000) UNITED STATES -- (Continued) Citigroup, Inc. 4.450%, 01/10/17............................. $ 4,000 $ 4,348,484 6.000%, 08/15/17............................. 4,000 4,598,524 CNA Financial Corp. 5.850%, 12/15/14............................. 1,000 1,053,937 Coca-Cola Enterprises, Inc. 2.125%, 09/15/15............................. 3,389 3,462,450 Comcast Corp. 4.950%, 06/15/16............................. 4,000 4,412,848 Comerica, Inc. 3.000%, 09/16/15............................. 1,000 1,041,617 Computer Sciences Corp. 2.500%, 09/15/15............................. 4,000 4,096,352 DIRECTV Holdings LLC / DIRECTV Financing Co., Inc. 2.400%, 03/15/17............................. 4,000 4,067,720 Dollar General Corp. 1.875%, 04/15/18............................. 5,000 4,880,110 Eastman Chemical Co. 2.400%, 06/01/17............................. 4,000 4,064,908 Enbridge Energy Partners L.P. 5.875%, 12/15/16............................. 2,000 2,250,718 Energy Transfer Partners L.P. 5.950%, 02/01/15............................. 2,604 2,761,024 Enterprise Products Operating LLC 6.300%, 09/15/17............................. 4,000 4,644,424 Exelon Generation Co. LLC 6.200%, 10/01/17............................. 4,000 4,587,880 Express Scripts Holding Co. 3.125%, 05/15/16............................. 6,600 6,925,697 Fifth Third Bancorp 3.625%, 01/25/16............................. 2,100 2,216,592 FMC Technologies, Inc. 2.000%, 10/01/17............................. 5,000 4,970,610 Ford Motor Credit Co. LLC 5.000%, 05/15/18............................. 5,000 5,539,280 Freeport-McMoRan Copper & Gold, Inc. 1.400%, 02/13/15............................. 3,000 3,015,228 2.150%, 03/01/17............................. 4,000 4,015,612 General Electric Capital Corp. 3.750%, 11/14/14............................. 10,000 10,344,720 1.625%, 04/02/18............................. 15,000 14,972,925 Goldman Sachs Group, Inc. (The) 6.250%, 09/01/17............................. 4,000 4,626,020 5.950%, 01/18/18............................. 2,000 2,295,308 Hartford Financial Services Group, Inc. 4.000%, 10/15/17............................. 5,142 5,530,648 Hewlett-Packard Co. 6.125%, 03/01/14............................. 4,750 4,831,049 2.600%, 09/15/17............................. 4,000 4,066,664 FACE AMOUNT^ VALUE+ ------- ------ (000) UNITED STATES -- (Continued) HSBC Finance Corp. 5.250%, 04/15/15............................. $ 2,187 $2,316,785 HSBC USA, Inc. 2.375%, 02/13/15............................. 5,000 5,115,045 Intuit, Inc. 5.750%, 03/15/17............................. 2,000 2,235,820 Jefferies Group LLC 5.125%, 04/13/18............................. 1,875 2,018,839 JPMorgan Chase & Co. 3.700%, 01/20/15............................. 4,000 4,143,752 3.150%, 07/05/16............................. 4,000 4,200,948 KeyBank NA 1.650%, 02/01/18............................. 1,820 1,801,716 Kinder Morgan Energy Partners L.P. 6.000%, 02/01/17............................. 4,000 4,544,076 Kohl's Corp. 6.250%, 12/15/17............................. 4,000 4,642,296 Kroger Co. (The) 2.200%, 01/15/17............................. 2,795 2,851,599 Laboratory Corp. of America Holdings 2.200%, 08/23/17............................. 4,500 4,528,188 Lorillard Tobacco Co. 2.300%, 08/21/17............................. 4,000 4,039,556 McKesson Corp. 1.400%, 03/15/18............................. 8,907 8,674,768 MetLife, Inc. 6.750%, 06/01/16............................. 5,000 5,729,765 Mondelez International, Inc. 6.500%, 08/11/17............................. 4,000 4,666,040 Morgan Stanley 6.250%, 08/28/17............................. 4,000 4,606,148 Murphy Oil Corp. 2.500%, 12/01/17............................. 5,860 5,901,272 NetApp, Inc. 2.000%, 12/15/17............................. 5,000 4,971,075 Nisource Finance Corp. 6.400%, 03/15/18............................. 3,000 3,498,351 Nucor Corp. 5.750%, 12/01/17............................. 7,160 8,169,503 NYSE Euronext 2.000%, 10/05/17............................. 5,000 5,024,870 ONEOK Partners L.P. 2.000%, 10/01/17............................. 1,620 1,615,299 Oracle Corp. 1.200%, 10/15/17............................. 1,500 1,480,124 Panhandle Eastern Pipe Line Co. L.P. 6.200%, 11/01/17............................. 1,725 1,980,181 Pioneer Natural Resources Co. 6.650%, 03/15/17............................. 4,000 4,633,048 Plains All American Pipeline L.P. / PAA Finance Corp. 6.125%, 01/15/17............................. 5,000 5,702,120 31 DFA SELECTIVELY HEDGED GLOBAL FIXED INCOME PORTFOLIO CONTINUED FACE AMOUNT^ VALUE+ ------- ------ (000) UNITED STATES -- (Continued) PPL Energy Supply LLC 6.200%, 05/15/16............................. $ 4,000 $4,436,252 Principal Financial Group, Inc. 1.850%, 11/15/17............................. 6,707 6,694,679 Prudential Financial, Inc. 6.100%, 06/15/17............................. 1,000 1,146,357 6.000%, 12/01/17............................. 5,000 5,810,780 Quest Diagnostics, Inc. 3.200%, 04/01/16............................. 4,000 4,164,972 Qwest Corp. 6.500%, 06/01/17............................. 4,000 4,487,008 Reinsurance Group of America, Inc. 5.625%, 03/15/17............................. 1,000 1,110,299 Republic Services, Inc. 3.800%, 05/15/18............................. 2,427 2,591,572 Safeway, Inc. 3.400%, 12/01/16............................. 4,000 4,127,472 Scripps Networks Interactive, Inc. 2.700%, 12/15/16............................. 4,059 4,235,619 Starwood Hotels & Resorts Worldwide, Inc. 6.750%, 05/15/18............................. 1,000 1,183,331 SunTrust Banks, Inc. 3.500%, 01/20/17............................. 4,000 4,247,168 Symantec Corp. 2.750%, 06/15/17............................. 4,000 4,092,404 TD Ameritrade Holding Corp. 4.150%, 12/01/14............................. 4,000 4,149,896 Tech Data Corp. 3.750%, 09/21/17............................. 4,500 4,622,980 Textron, Inc. 6.200%, 03/15/15............................. 4,000 4,272,684 Verizon Communications, Inc. 1.100%, 11/01/17............................. 3,000 2,917,533 6.100%, 04/15/18............................. 5,000 5,817,230 FACE AMOUNT^ VALUE+ ------- ------ (000) UNITED STATES -- (Continued) Wachovia Corp. 5.750%, 06/15/17............................. $ 4,000 $ 4,603,308 5.750%, 02/01/18............................. 3,000 3,500,475 Weatherford International, Inc. 6.350%, 06/15/17............................. 4,000 4,540,680 WellPoint, Inc. 5.875%, 06/15/17............................. 3,990 4,556,285 1.875%, 01/15/18............................. 4,000 3,983,524 Western Union Co. (The) 5.930%, 10/01/16............................. 6,000 6,691,284 Wyndham Worldwide Corp. 2.500%, 03/01/18............................. 7,405 7,405,615 Xerox Corp. 2.950%, 03/15/17............................. 5,575 5,741,202 Zimmer Holdings, Inc. 1.400%, 11/30/14............................. 5,000 5,026,690 TOTAL UNITED STATES.............................. 514,331,048 ------------ TOTAL BONDS...................................... 896,408,628 ------------ AGENCY OBLIGATIONS -- (7.4%) Federal Home Loan Mortgage Corporation 0.500%, 05/13/16............................. 11,500 11,495,044 Federal National Mortgage Association 0.500%, 05/27/15............................. 8,000 8,027,120 0.500%, 03/30/16............................. 52,000 52,007,956 ------------ TOTAL AGENCY OBLIGATIONS......................... 71,530,120 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $972,455,965).......................... $967,938,748 ============ 32 DFA SELECTIVELY HEDGED GLOBAL FIXED INCOME PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ------------------------------------------ LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ------- ------------ ------- ------------ Bonds Australia.............................. -- $ 67,406,990 -- $ 67,406,990 Canada................................. -- 75,202,320 -- 75,202,320 Finland................................ -- 13,923,504 -- 13,923,504 France................................. -- 39,890,024 -- 39,890,024 Germany................................ -- 17,539,055 -- 17,539,055 Japan.................................. -- 10,088,228 -- 10,088,228 Netherlands............................ -- 25,408,564 -- 25,408,564 New Zealand............................ -- 12,904,678 -- 12,904,678 Norway................................. -- 20,260,798 -- 20,260,798 Singapore.............................. -- 5,589,383 -- 5,589,383 Supranational Organization Obligations. -- 40,848,879 -- 40,848,879 Sweden................................. -- 8,868,616 -- 8,868,616 Switzerland............................ -- 15,590,160 -- 15,590,160 United Kingdom......................... -- 28,556,381 -- 28,556,381 United States.......................... -- 514,331,048 -- 514,331,048 Agency Obligations....................... -- 71,530,120 -- 71,530,120 Forward Currency Contracts**............. -- (700,833) -- (700,833) -- ------------ -- ------------ TOTAL.................................... -- $967,237,915 -- $967,237,915 == ============ == ============ **Not reflected in the Schedule of Investments, valued at the unrealized appreciation/(depreciation) on the investment. (Note G) See accompanying Notes to Financial Statements. 33 DFA SHORT-TERM GOVERNMENT PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 FACE AMOUNT VALUE+ -------- -------------- (000) AGENCY OBLIGATIONS -- (86.6%) Federal Farm Credit Bank 1.625%, 11/19/14................... $ 21,000 $ 21,322,560 0.500%, 06/23/15................... 17,100 17,157,268 4.875%, 12/16/15................... 16,714 18,293,206 4.875%, 01/17/17................... 12,000 13,557,552 Federal Home Loan Bank 0.875%, 12/12/14................... 2,900 2,922,574 0.250%, 01/16/15................... 27,600 27,624,564 4.500%, 02/18/15................... 12,000 12,663,912 0.250%, 02/20/15................... 23,550 23,556,947 2.750%, 03/13/15................... 79,700 82,427,812 2.875%, 06/12/15................... 71,020 73,970,739 1.750%, 09/11/15................... 74,615 76,561,780 0.500%, 11/20/15................... 5,000 5,011,750 1.375%, 12/11/15................... 30,185 30,821,632 1.625%, 12/11/15................... 21,500 22,034,275 5.000%, 12/21/15................... 39,385 43,258,397 1.000%, 03/11/16................... 15,000 15,200,340 3.125%, 03/11/16................... 76,890 81,676,018 5.375%, 05/18/16................... 81,500 91,568,184 2.125%, 06/10/16................... 98,000 102,016,040 5.125%, 10/19/16................... 27,345 30,925,144 1.625%, 12/09/16................... 19,000 19,566,371 4.750%, 12/16/16................... 82,500 92,964,630 4.875%, 05/17/17................... 8,000 9,126,744 1.000%, 06/09/17................... 9,010 9,022,974 1.000%, 06/21/17................... 134,210 134,508,483 0.750%, 09/08/17................... 78,000 76,976,406 5.000%, 11/17/17................... 119,740 138,226,180 0.750%, 12/08/17................... 50,530 49,583,270 1.375%, 03/09/18................... 143,700 144,068,016 1.250%, 06/08/18................... 11,000 10,922,329 2.000%, 09/14/18................... 15,000 15,321,795 Tennessee Valley Authority 4.375%, 06/15/15................... 20,580 21,886,459 5.500%, 07/18/17................... 3,362 3,898,713 6.250%, 12/15/17................... 3,300 3,937,540 4.500%, 04/01/18................... 5,000 5,646,785 -------------- TOTAL AGENCY OBLIGATIONS............. 1,528,227,389 -------------- U.S. TREASURY OBLIGATIONS -- (12.9%) U.S. Treasury Bonds 9.875%, 11/15/15................... 15,500 18,507,961 U.S. Treasury Notes 0.250%, 08/15/15................... 46,780 46,761,709 0.250%, 09/15/15................... 43,000 42,964,740 4.500%, 11/15/15................... 73,500 79,747,500 2.000%, 01/31/16................... 39,000 40,425,918 -------------- TOTAL U.S. TREASURY OBLIGATIONS...... 228,407,828 -------------- 34 DFA SHORT-TERM GOVERNMENT PORTFOLIO CONTINUED SHARES VALUE+ --------- -------------- TEMPORARY CASH INVESTMENTS -- (0.5%) State Street Institutional U.S. Government Money Market Fund. 8,305,969 $ 8,305,969 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $1,760,197,897)....................................... $1,764,941,186 ============== Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ------------------------------------------------ LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ---------- -------------- ------- -------------- Agency Obligations................. -- $1,528,227,389 -- $1,528,227,389 U.S. Treasury Obligations.......... -- 228,407,828 -- 228,407,828 Temporary Cash Investments......... $8,305,969 -- -- 8,305,969 ---------- -------------- -- -------------- TOTAL.............................. $8,305,969 $1,756,635,217 -- $1,764,941,186 ========== ============== == ============== See accompanying Notes to Financial Statements. 35 DFA FIVE-YEAR GLOBAL FIXED INCOME PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 FACE AMOUNT^ VALUE+ ------- ------ (000) BONDS -- (89.3%) AUSTRALIA -- (5.9%) Australia & New Zealand Banking Group, Ltd. 1.875%, 10/06/17............................. $ 11,500 $ 11,616,323 1.450%, 05/15/18............................. 25,900 25,355,116 Commonwealth Bank of Australia # 1.900%, 09/18/17............................. 82,130 83,181,675 4.250%, 04/06/18............................. EUR 7,700 11,744,901 2.500%, 09/20/18............................. 85,500 87,325,168 National Australia Bank, Ltd. # 2.750%, 03/09/17............................. 60,000 62,641,860 # 2.300%, 07/25/18............................. 41,000 41,648,415 Westpac Banking Corp. 2.000%, 08/14/17............................. 53,500 54,443,045 # 1.600%, 01/12/18............................. 61,650 61,308,582 # 2.250%, 07/30/18............................. 43,900 44,537,252 ------------ TOTAL AUSTRALIA.................................. 483,802,337 ------------ AUSTRIA -- (3.5%) Austria Government Bond 4.650%, 01/15/18............................. EUR 28,000 44,149,119 1.150%, 10/19/18............................. EUR 107,000 146,563,732 Oesterreichische Kontrollbank AG 1.125%, 05/29/18............................. 103,000 101,730,216 ------------ TOTAL AUSTRIA.................................... 292,443,067 ------------ BELGIUM -- (2.4%) Belgium Government Bond 5.500%, 09/28/17............................. EUR 123,500 197,366,788 ------------ CANADA -- (10.8%) Bank of Nova Scotia 2.900%, 03/29/16............................. 28,605 29,919,114 # 2.550%, 01/12/17............................. 36,400 37,922,539 British Columbia, Province of Canada 1.200%, 04/25/17............................. 97,000 97,909,375 Manitoba, Province of Canada 1.300%, 04/03/17............................. 38,000 38,447,184 Ontario, Province of Canada # 1.100%, 10/25/17............................. 84,000 83,357,232 # 1.200%, 02/14/18............................. 98,925 97,995,896 3.000%, 07/16/18............................. 20,000 21,242,000 Royal Bank of Canada 2.300%, 07/20/16............................. 37,040 38,364,662 # 1.500%, 01/16/18............................. 82,460 81,702,935 # 2.200%, 07/27/18............................. 101,900 103,009,181 FACE AMOUNT^ VALUE+ ------- ------ (000) CANADA -- (Continued) Toronto-Dominion Bank (The) 1.400%, 04/30/18............................. $ 39,924 $ 39,174,267 # 2.625%, 09/10/18............................. 157,484 162,615,616 Total Capital Canada, Ltd. # 1.450%, 01/15/18............................. 53,370 53,008,472 ------------ TOTAL CANADA..................................... 884,668,473 ------------ DENMARK -- (2.9%) Denmark Government Bond 4.000%, 11/15/17............................. DKK 424,000 87,922,159 Kommunekredit 1.125%, 03/15/18............................. 154,361 151,901,412 ------------ TOTAL DENMARK.................................... 239,823,571 ------------ FINLAND -- (2.7%) Municipality Finance P.L.C. 1.625%, 04/25/17............................. 71,000 72,405,232 1.125%, 12/07/17............................. GBP 52,000 82,467,952 1.125%, 04/17/18............................. 69,800 68,510,096 ------------ TOTAL FINLAND.................................... 223,383,280 ------------ FRANCE -- (4.7%) Caisse d'Amortissement de la Dette Sociale 5.250%, 11/02/16............................. 15,000 16,876,500 2.125%, 04/12/17............................. 52,300 53,907,388 3.250%, 03/07/18............................. EUR 3,600 5,367,087 France Government Bond OAT 1.000%, 05/25/18............................. EUR 98,500 134,390,814 Sanofi 1.250%, 04/10/18............................. 10,000 9,843,440 Total Capital International SA # 1.500%, 02/17/17............................. 16,368 16,585,089 1.550%, 06/28/17............................. 68,500 69,187,192 UNEDIC 2.125%, 04/26/17............................. EUR 55,000 78,333,852 ------------ TOTAL FRANCE..................................... 384,491,362 ------------ GERMANY -- (5.5%) FMS Wertmanagement AoeR 1.000%, 07/18/17............................. EUR 10,000 13,740,830 KFW 0.875%, 10/13/17............................. EUR 17,000 23,274,932 1.000%, 12/07/17............................. GBP 91,300 144,535,582 # 1.000%, 06/11/18............................. 49,000 48,206,739 36 DFA FIVE-YEAR GLOBAL FIXED INCOME PORTFOLIO CONTINUED FACE AMOUNT^ VALUE+ ------- ------ (000) GERMANY -- (Continued) Landeskreditbank Baden- Wuerttemberg Foerderbank 1.625%, 04/25/17............................. $ 56,000 $ 57,082,032 0.875%, 12/15/17............................. GBP 19,000 29,815,689 Landwirtschaftliche Rentenbank 3.250%, 12/07/16............................. GBP 12,000 20,546,625 0.875%, 09/12/17............................. 7,200 7,139,909 # 2.375%, 09/13/17............................. 15,000 15,716,190 1.000%, 12/15/17............................. GBP 15,000 23,744,819 # 1.000%, 04/04/18............................. 33,000 32,495,826 # 1.875%, 09/17/18............................. 15,000 15,236,850 NRW Bank 0.875%, 12/15/17............................. GBP 12,000 18,756,307 ------------ TOTAL GERMANY.................................... 450,292,330 ------------ JAPAN -- (3.4%) Development Bank of Japan, Inc. 5.125%, 02/01/17............................. 26,800 30,276,737 1.000%, 01/22/18............................. 40,100 39,286,772 Japan Bank for International Cooperation 1.125%, 07/19/17............................. 21,400 21,315,128 # 1.750%, 07/31/18............................. 124,950 125,217,643 Japan Finance Organization for Municipalities 1.500%, 09/12/17............................. 20,000 20,045,800 1.375%, 02/05/18............................. 40,500 39,914,775 ------------ TOTAL JAPAN...................................... 276,056,855 ------------ NETHERLANDS -- (6.4%) Bank Nederlandse Gemeenten 1.375%, 09/27/17............................. 106,900 107,145,870 4.500%, 02/20/18............................. GBP 9,550 17,073,396 1.375%, 03/19/18............................. 95,200 94,490,570 Cooperatieve Centrale Raiffeisen- Boerenleenbank BA # 3.375%, 01/19/17............................. 77,000 82,055,743 4.750%, 01/15/18............................. EUR 35,000 54,130,382 # 1.700%, 03/19/18............................. 20,900 20,763,648 Nederlandse Waterschapsbank NV 2.125%, 02/09/17............................. 51,700 53,458,420 Shell International Finance BV # 5.200%, 03/22/17............................. 3,000 3,386,601 1.125%, 08/21/17............................. 10,000 9,958,370 # 1.900%, 08/10/18............................. 84,144 85,035,421 ------------ TOTAL NETHERLANDS................................ 527,498,421 ------------ FACE AMOUNT^ VALUE+ ------- ------ (000) NEW ZEALAND -- (1.2%) New Zealand Government Bond 6.000%, 12/15/17............................. NZD 114,400 $102,129,527 NORWAY -- (5.0%) Kommunalbanken A.S. 1.375%, 06/08/17............................. 50,000 50,515,000 1.000%, 09/26/17............................. 108,000 107,001,000 1.125%, 12/15/17............................. GBP 4,000 6,335,351 1.000%, 03/15/18............................. 42,000 41,149,080 Statoil ASA 3.125%, 08/17/17............................. 12,070 12,845,497 1.200%, 01/17/18............................. 43,850 43,267,628 # 1.150%, 05/15/18............................. 149,925 147,393,067 ------------ TOTAL NORWAY..................................... 408,506,623 ------------ SINGAPORE -- (1.2%) Singapore Government Bond 0.500%, 04/01/18............................. SGD 120,000 95,818,000 ------------ SUPRANATIONAL ORGANIZATION OBLIGATIONS -- (7.0%) African Development Bank 1.125%, 03/15/17............................. 57,000 57,433,827 1.625%, 10/02/18............................. 25,000 25,092,000 Council Of Europe Development Bank # 1.500%, 06/19/17............................. 60,000 60,873,900 # 1.000%, 03/07/18............................. 56,200 55,205,653 # 1.125%, 05/31/18............................. 60,000 59,023,980 European Financial Stability Facility 2.000%, 05/15/17............................. EUR 5,000 7,083,154 1.625%, 09/15/17............................. EUR 35,000 48,948,240 European Investment Bank 1.125%, 09/15/17............................. 6,000 6,003,912 4.750%, 10/15/17............................. EUR 29,300 46,039,771 4.125%, 12/07/17............................. GBP 4,000 7,077,276 1.000%, 12/15/17............................. 21,400 21,197,535 1.375%, 01/15/18............................. GBP 74,000 117,619,273 European Union 3.250%, 04/04/18............................. EUR 40,000 60,048,254 Nordic Investment Bank # 0.750%, 01/17/18............................. 8,500 8,344,748 ------------ TOTAL SUPRANATIONAL ORGANIZATION OBLIGATIONS..... 579,991,523 ------------ SWEDEN -- (5.2%) Kingdom of Sweden 0.875%, 01/31/18............................. EUR 40,000 54,724,900 1.000%, 02/27/18............................. 25,000 24,729,650 37 DFA FIVE-YEAR GLOBAL FIXED INCOME PORTFOLIO CONTINUED FACE AMOUNT^ VALUE+ ------- ------ (000) SWEDEN -- (Continued) Kommuninvest I Sverige AB 1.625%, 02/13/17............................. $ 71,600 $ 73,136,536 1.000%, 10/24/17............................. 54,300 53,933,583 Svensk Exportkredit AB 5.125%, 03/01/17............................. 70,312 79,835,479 1.750%, 05/30/17............................. 94,955 97,170,775 # 1.125%, 04/05/18............................. 40,000 39,443,680 Svenska Handelsbanken AB 2.875%, 04/04/17............................. 3,160 3,300,168 ------------ TOTAL SWEDEN..................................... 426,274,771 ------------ UNITED KINGDOM -- (4.8%) Barclays Bank P.L.C. 1.500%, 04/04/17............................. GBP 34,000 55,082,535 Lloyds TSB Bank P.L.C. 1.500%, 05/02/17............................. GBP 40,500 65,624,708 Network Rail Infrastructure Finance P.L.C. 1.000%, 12/07/17............................. GBP 23,000 36,454,820 0.875%, 05/15/18............................. 10,000 9,778,700 Transport for London 1.250%, 11/21/17............................. GBP 10,000 15,939,392 United Kingdom Gilt 1.000%, 09/07/17............................. GBP 135,000 215,110,354 ------------ TOTAL UNITED KINGDOM............................. 397,990,509 ------------ UNITED STATES -- (16.7%) 3M Co. # 1.000%, 06/26/17............................. $ 59,405 59,029,976 Apple, Inc. # 1.000%, 05/03/18............................. 95,700 92,904,220 Berkshire Hathaway Finance Corp. 1.600%, 05/15/17............................. 28,700 28,928,969 1.300%, 05/15/18............................. 38,700 38,065,475 5.400%, 05/15/18............................. 5,000 5,786,940 2.000%, 08/15/18............................. 41,875 42,280,266 Berkshire Hathaway, Inc. # 1.900%, 01/31/17............................. 41,300 42,257,664 1.550%, 02/09/18............................. 45,446 45,263,989 Chevron Corp. # 1.104%, 12/05/17............................. 103,616 102,534,871 # 1.718%, 06/24/18............................. 118,327 118,484,020 Colgate-Palmolive Co. 1.300%, 01/15/17............................. 7,000 7,055,349 # 0.900%, 05/01/18............................. 34,300 33,413,414 General Electric Capital Corp. 2.300%, 04/27/17............................. 18,300 18,858,699 5.625%, 09/15/17............................. 70,500 80,946,549 FACE AMOUNT^ VALUE+ ------- ------ (000) UNITED STATES -- (Continued) # 1.600%, 11/20/17............................. $ 58,000 $ 58,095,990 # 1.625%, 04/02/18............................. 21,147 21,108,830 5.625%, 05/01/18............................. 17,500 20,294,172 General Electric Co. 5.250%, 12/06/17............................. 23,418 26,778,015 International Business Machines Corp. 5.700%, 09/14/17............................. 52,090 60,563,897 # 1.250%, 02/08/18............................. 73,800 72,898,016 Johnson & Johnson # 5.150%, 07/15/18............................. 10,515 12,187,379 Microsoft Corp. # 1.000%, 05/01/18............................. 12,000 11,803,452 Pfizer, Inc. # 1.500%, 06/15/18............................. 12,954 12,903,700 Toyota Motor Credit Corp. # 1.750%, 05/22/17............................. 9,141 9,280,729 1.250%, 10/05/17............................. 65,567 65,149,732 # 1.375%, 01/10/18............................. 47,200 46,700,954 # 2.000%, 10/24/18............................. 79,500 79,846,779 Wal-Mart Stores, Inc. # 5.375%, 04/05/17............................. 9,000 10,264,617 5.800%, 02/15/18............................. 7,000 8,224,188 # 1.125%, 04/11/18............................. 141,967 139,406,057 -------------- TOTAL UNITED STATES................................ 1,371,316,908 -------------- TOTAL BONDS........................................ 7,341,854,345 -------------- AGENCY OBLIGATIONS -- (5.0%) Federal Home Loan Mortgage Corporation 1.250%, 05/12/17............................. 37,300 37,772,777 # 1.000%, 06/29/17............................. 45,000 44,999,460 1.000%, 09/29/17............................. 4,000 3,985,300 # 0.875%, 03/07/18............................. 62,800 61,711,174 # 4.875%, 06/13/18............................. 16,000 18,501,312 Federal National Mortgage Association # 0.875%, 02/08/18............................. 105,500 103,799,023 # 0.875%, 05/21/18............................. 49,200 48,063,480 # 1.875%, 09/18/18............................. 89,000 90,417,058 -------------- TOTAL AGENCY OBLIGATIONS........................... 409,249,584 -------------- SHARES/ FACE AMOUNT - ------- (000) SECURITIES LENDING COLLATERAL -- (5.7%) (S)@ DFA Short Term Investment Fund............... 40,881,590 473,000,000 38 DFA FIVE-YEAR GLOBAL FIXED INCOME PORTFOLIO CONTINUED SHARES/ FACE AMOUNT VALUE+ ------- ------ (000) @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $125,755 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $113,723) to be repurchased at $111,493.. $111 $ 111,493 -------------- TOTAL SECURITIES LENDING COLLATERAL.............. 473,111,493 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $8,183,436,268).......................... $8,224,215,422 ============== Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ---------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ------- -------------- ------- -------------- Bonds Australia.............................. -- $ 483,802,337 -- $ 483,802,337 Austria................................ -- 292,443,067 -- 292,443,067 Belgium................................ -- 197,366,788 -- 197,366,788 Canada................................. -- 884,668,473 -- 884,668,473 Denmark................................ -- 239,823,571 -- 239,823,571 Finland................................ -- 223,383,280 -- 223,383,280 France................................. -- 384,491,362 -- 384,491,362 Germany................................ -- 450,292,330 -- 450,292,330 Japan.................................. -- 276,056,855 -- 276,056,855 Netherlands............................ -- 527,498,421 -- 527,498,421 New Zealand............................ -- 102,129,527 -- 102,129,527 Norway................................. -- 408,506,623 -- 408,506,623 Singapore.............................. -- 95,818,000 -- 95,818,000 Supranational Organization Obligations. -- 579,991,523 -- 579,991,523 Sweden................................. -- 426,274,771 -- 426,274,771 United Kingdom......................... -- 397,990,509 -- 397,990,509 United States.......................... -- 1,371,316,908 -- 1,371,316,908 Agency Obligations....................... -- 409,249,584 -- 409,249,584 Securities Lending Collateral............ -- 473,111,493 -- 473,111,493 Forward Currency Contracts**............. -- (7,851,170) -- (7,851,170) -- -------------- -- -------------- TOTAL.................................... -- $8,216,364,252 -- $8,216,364,252 == ============== == ============== **Not reflected in the Schedule of Investments, valued at the unrealized appreciation/(depreciation) on the investment. (Note G) See accompanying Notes to Financial Statements. 39 DFA WORLD EX U.S. GOVERNMENT FIXED INCOME PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 FACE AMOUNT^ VALUE+ ------- ------ (000) BONDS -- (98.2%) AUSTRIA -- (3.7%) Austria Government Bond 3.400%, 11/22/22............................. EUR 5,645 $ 8,618,724 ----------- BELGIUM -- (3.9%) Belgium Government Bond 2.250%, 06/22/23............................. EUR 6,800 9,103,622 ----------- CANADA -- (7.0%) Alberta, Province of Canada 2.550%, 12/15/22............................. CAD 600 552,335 British Columbia, Province of Canada 3.700%, 12/18/20............................. CAD 2,000 2,051,311 2.700%, 12/18/22............................. CAD 6,100 5,690,701 Ontario, Province of Canada 3.150%, 06/02/22............................. CAD 8,500 8,162,902 ----------- TOTAL CANADA..................................... 16,457,249 ----------- DENMARK -- (3.8%) Denmark Government Bond 4.000%, 11/15/19............................. DKK 8,600 1,840,313 3.000%, 11/15/21............................. DKK 6,400 1,303,921 1.500%, 11/15/23............................. DKK 12,800 2,270,854 7.000%, 11/10/24............................. DKK 12,900 3,579,682 ----------- TOTAL DENMARK.................................... 8,994,770 ----------- FINLAND -- (3.8%) Finland Government Bond 1.500%, 04/15/23............................. EUR 6,900 9,045,258 ----------- FRANCE -- (17.3%) Caisse d'Amortissement de la Dette Sociale 3.375%, 04/25/21............................. EUR 2,600 3,938,685 2.500%, 10/25/22............................. EUR 1,400 1,959,245 France Government Bond OAT 4.250%, 10/25/18............................. EUR 1,200 1,888,286 3.750%, 04/25/21............................. EUR 3,900 6,080,101 3.000%, 04/25/22............................. EUR 7,860 11,581,156 6.000%, 10/25/25............................. EUR 3,500 6,459,845 3.500%, 04/25/26............................. EUR 2,500 3,711,965 Reseau Ferre de France 5.500%, 12/01/21............................. GBP 2,700 5,113,668 ----------- TOTAL FRANCE..................................... 40,732,951 ----------- GERMANY -- (3.2%) KFW 4.375%, 07/04/18............................. EUR 2,010 3,165,346 5.550%, 06/07/21............................. GBP 600 1,167,562 FACE AMOUNT^ VALUE+ ------- ------ (000) GERMANY -- (Continued) 3.500%, 07/04/21............................. EUR 2,075 $ 3,214,292 ----------- TOTAL GERMANY.................................... 7,547,200 ----------- JAPAN -- (12.8%) Japan Government Ten Year Bond 1.400%, 03/20/20............................. JPY 1,148,000 12,491,648 1.200%, 06/20/21............................. JPY 1,197,000 12,891,068 Japan Government Twenty Year Bond 0.800%, 06/20/23............................. JPY 245,000 2,542,833 2.100%, 12/20/26............................. JPY 178,000 2,088,657 ----------- TOTAL JAPAN...................................... 30,014,206 ----------- LUXEMBOURG -- (2.9%) Luxembourg Government Bond 3.375%, 05/18/20............................. EUR 4,450 6,790,586 ----------- NETHERLANDS -- (5.0%) Bank Nederlandse Gemeenten 5.375%, 06/07/21............................. GBP 600 1,131,813 2.250%, 08/30/22............................. EUR 1,600 2,208,035 Netherlands Government Bond 2.250%, 07/15/22............................. EUR 6,000 8,423,395 ----------- TOTAL NETHERLANDS................................ 11,763,243 ----------- NEW ZEALAND -- (2.3%) New Zealand Government Bond 3.000%, 04/15/20............................. NZD 1,600 1,225,268 6.000%, 05/15/21............................. NZD 4,500 4,096,319 ----------- TOTAL NEW ZEALAND................................ 5,321,587 ----------- NORWAY -- (1.6%) Norway Government Bond 3.750%, 05/25/21............................. NOK 20,400 3,692,050 ----------- SINGAPORE -- (3.9%) Singapore Government Bond 3.250%, 09/01/20............................. SGD 1,700 1,505,458 3.125%, 09/01/22............................. SGD 1,770 1,553,348 2.750%, 07/01/23............................. SGD 7,300 6,206,105 ----------- TOTAL SINGAPORE.................................. 9,264,911 ----------- SUPRANATIONAL ORGANIZATION OBLIGATIONS -- (10.6%) Council Of Europe Development Bank 3.000%, 07/13/20............................. EUR 3,950 5,870,331 40 DFA WORLD EX U.S. GOVERNMENT FIXED INCOME PORTFOLIO CONTINUED FACE AMOUNT^ VALUE+ ------- ------ (000) SUPRANATIONAL ORGANIZATION OBLIGATIONS -- (Continued) European Financial Stability Facility 2.250%, 09/05/22............................. EUR 900 $ 1,247,768 European Investment Bank 5.375%, 06/07/21............................. GBP 880 1,680,773 2.250%, 10/14/22............................. EUR 2,300 3,190,589 2.500%, 10/31/22............................. GBP 380 591,500 1.900%, 01/26/26............................. JPY 309,000 3,498,984 European Union 2.750%, 04/04/22............................. EUR 4,100 5,977,010 3.000%, 09/04/26............................. EUR 1,975 2,862,667 ----------- TOTAL SUPRANATIONAL ORGANIZATION OBLIGATIONS..... 24,919,622 ----------- SWEDEN -- (1.3%) Sweden Government Bond 5.000%, 12/01/20............................. SEK 16,500 3,057,136 ----------- UNITED KINGDOM -- (15.1%) Network Rail Infrastructure Finance P.L.C. 4.625%, 07/21/20............................. GBP 900 1,665,002 4.750%, 01/22/24............................. GBP 200 370,834 FACE AMOUNT^ VALUE+ ------- ------ (000) UNITED KINGDOM -- (Continued) United Kingdom Gilt 3.750%, 09/07/21............................. GBP 1,800 $ 3,202,120 4.000%, 03/07/22............................. GBP 6,660 12,039,204 1.750%, 09/07/22............................. GBP 9,170 13,891,262 2.250%, 09/07/23............................. GBP 2,800 4,344,461 TOTAL UNITED KINGDOM............................. 35,512,883 ------------ TOTAL BONDS...................................... 230,835,998 ------------ AGENCY OBLIGATIONS -- (1.8%) Federal Home Loan Bank 5.750%, 06/12/26............................. 100 120,050 Federal Home Loan Mortgage Corporation 3.750%, 03/27/19............................. 300 332,371 2.375%, 01/13/22............................. 2,250 2,204,827 Tennessee Valley Authority 5.350%, 06/07/21............................. GBP 400 750,372 1.875%, 08/15/22............................. 1,000 910,183 ------------ TOTAL AGENCY OBLIGATIONS......................... 4,317,803 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $237,462,851)............................ $235,153,801 ============ Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ------------------------------------------ LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ------- ------------ ------- ------------ Bonds Austria................................ -- $ 8,618,724 -- $ 8,618,724 Belgium................................ -- 9,103,622 -- 9,103,622 Canada................................. -- 16,457,249 -- 16,457,249 Denmark................................ -- 8,994,770 -- 8,994,770 Finland................................ -- 9,045,258 -- 9,045,258 France................................. -- 40,732,951 -- 40,732,951 Germany................................ -- 7,547,200 -- 7,547,200 Japan.................................. -- 30,014,206 -- 30,014,206 Luxembourg............................. -- 6,790,586 -- 6,790,586 Netherlands............................ -- 11,763,243 -- 11,763,243 New Zealand............................ -- 5,321,587 -- 5,321,587 Norway................................. -- 3,692,050 -- 3,692,050 Singapore.............................. -- 9,264,911 -- 9,264,911 Supranational Organization Obligations. -- 24,919,622 -- 24,919,622 Sweden................................. -- 3,057,136 -- 3,057,136 United Kingdom......................... -- 35,512,883 -- 35,512,883 Agency Obligations....................... -- 4,317,803 -- 4,317,803 Forward Currency Contracts**............. -- (2,148,869) -- (2,148,869) -- ------------ -- ------------ TOTAL.................................... -- $233,004,932 -- $233,004,932 == ============ == ============ **Not reflected in the Schedule of Investments, valued at the unrealized appreciation/(depreciation) on the investment. (Note G) See accompanying Notes to Financial Statements. 41 DFA INTERMEDIATE GOVERNMENT FIXED INCOME PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 FACE AMOUNT VALUE+ ------ ------ (000) AGENCY OBLIGATIONS -- (62.8%) Federal Farm Credit Bank 4.900%, 01/16/14............................. $ 5,700 $ 5,756,852 5.300%, 02/18/14............................. 7,000 7,107,919 5.250%, 06/05/14............................. 14,400 14,836,954 4.375%, 06/30/14............................. 3,915 4,027,392 3.000%, 09/22/14............................. 7,000 7,177,058 8.160%, 09/30/14............................. 3,615 3,878,642 4.700%, 12/10/14............................. 4,000 4,193,128 4.550%, 02/03/15............................. 4,500 4,744,049 4.375%, 02/17/15............................. 14,300 15,065,722 4.875%, 12/16/15............................. 15,000 16,417,260 6.030%, 03/21/16............................. 4,700 5,316,471 5.125%, 08/25/16............................. 8,000 9,003,456 4.875%, 01/17/17............................. 9,435 10,659,625 2.875%, 02/10/17............................. 32,000 34,020,736 5.050%, 03/08/17............................. 10,000 11,348,100 5.625%, 08/18/17............................. 4,000 4,678,956 5.100%, 09/03/19............................. 9,000 10,577,412 5.320%, 09/03/19............................. 21,300 24,969,585 5.150%, 11/15/19............................. 11,200 13,137,376 4.670%, 05/07/20............................. 5,600 6,434,876 5.350%, 08/07/20............................. 6,700 7,989,790 3.650%, 12/21/20............................. 44,000 47,435,828 5.250%, 03/02/21............................. 6,100 7,134,444 5.220%, 02/22/22............................. 5,000 5,877,825 5.210%, 12/19/22............................. 21,200 24,759,247 5.250%, 03/06/23............................. 6,000 6,995,670 5.220%, 05/15/23............................. 48,100 56,141,310 Federal Home Loan Bank 6.395%, 06/03/14............................. 5,200 5,391,682 5.250%, 06/18/14............................. 50,300 51,920,817 6.700%, 06/25/14............................. 12,500 13,037,788 5.500%, 08/13/14............................. 35,500 37,008,146 2.875%, 06/12/15............................. 15,000 15,623,220 2.875%, 09/11/15............................. 10,000 10,457,980 1.375%, 12/11/15............................. 10,000 10,210,910 4.875%, 03/11/16............................. 13,600 15,004,676 5.375%, 05/18/16............................. 44,000 49,435,584 2.125%, 06/10/16............................. 21,500 22,381,070 5.375%, 09/09/16............................. 6,000 6,808,002 5.125%, 10/19/16............................. 14,700 16,624,597 4.750%, 12/16/16............................. 58,000 65,356,952 3.625%, 03/10/17............................. 20,000 21,799,940 4.875%, 05/17/17............................. 87,500 99,823,762 5.000%, 11/17/17............................. 117,600 135,755,794 3.125%, 12/08/17............................. 30,000 32,280,600 1.250%, 06/08/18............................. 17,200 17,078,551 4.750%, 06/08/18............................. 5,835 6,695,207 2.000%, 09/14/18............................. 41,800 42,696,735 1.750%, 12/14/18............................. 5,000 5,031,995 1.500%, 03/08/19............................. 36,000 35,626,644 1.875%, 03/08/19............................. 31,000 31,223,200 5.375%, 05/15/19............................. 49,575 58,763,776 FACE AMOUNT VALUE+ ------ ------ (000) 1.625%, 06/14/19............................. $ 60,830 $ 60,219,875 5.125%, 08/15/19............................. 5,295 6,213,132 4.500%, 09/13/19............................. 32,000 36,320,576 4.125%, 12/13/19............................. 20,000 22,349,500 1.875%, 03/13/20............................. 123,000 121,378,122 4.125%, 03/13/20............................. 91,825 102,287,265 3.000%, 03/18/20............................. 14,000 14,694,624 3.375%, 06/12/20............................. 29,000 30,875,865 4.625%, 09/11/20............................. 25,650 29,272,190 5.250%, 12/11/20............................. 1,550 1,828,236 1.750%, 03/12/21............................. 14,000 13,209,014 5.000%, 03/12/21............................. 5,200 6,035,957 5.625%, 06/11/21............................. 33,180 39,954,958 2.625%, 12/10/21............................. 37,345 37,110,399 5.000%, 12/10/21............................. 45,500 52,530,614 2.250%, 03/11/22............................. 10,000 9,444,360 2.500%, 03/11/22............................. 11,000 10,750,267 5.250%, 06/10/22............................. 7,225 8,497,395 5.750%, 06/10/22............................. 19,500 23,375,800 2.000%, 09/09/22............................. 16,225 14,976,373 5.375%, 09/30/22............................. 26,600 31,537,066 4.750%, 03/10/23............................. 49,200 55,573,762 5.375%, 08/15/24............................. 9,000 10,586,547 4.375%, 03/13/26............................. 20,100 21,886,749 Tennessee Valley Authority 4.375%, 06/15/15............................. 13,500 14,357,007 5.500%, 07/18/17............................. 13,500 15,655,154 6.250%, 12/15/17............................. 46,000 54,886,924 4.500%, 04/01/18............................. 44,700 50,482,258 3.875%, 02/15/21............................. 92,806 100,270,665 1.875%, 08/15/22............................. 60,010 54,620,082 6.750%, 11/01/25............................. 32,200 42,120,627 -------------- TOTAL AGENCY OBLIGATIONS......................... 2,269,024,674 -------------- U.S. TREASURY OBLIGATIONS -- (36.3%) U.S. Treasury Bonds 11.250%, 02/15/15............................ 25,000 28,547,850 10.625%, 08/15/15............................ 11,000 13,028,554 9.875%, 11/15/15............................. 14,800 17,672,118 9.250%, 02/15/16............................. 16,500 19,825,773 7.250%, 05/15/16............................. 34,000 39,865,000 7.500%, 11/15/16............................. 36,800 44,407,259 9.000%, 11/15/18............................. 73,200 100,741,500 8.125%, 08/15/19............................. 30,800 42,075,695 8.750%, 08/15/20............................. 56,200 81,213,384 8.125%, 05/15/21............................. 58,100 83,042,156 7.250%, 08/15/22............................. 48,000 67,038,768 6.250%, 08/15/23............................. 36,000 47,857,500 7.500%, 11/15/24............................. 41,300 60,562,568 6.000%, 02/15/26............................. 37,000 49,186,875 6.750%, 08/15/26............................. 47,500 67,294,152 U.S. Treasury Notes 4.250%, 08/15/14............................. 15,500 16,001,936 42 DFA INTERMEDIATE GOVERNMENT FIXED INCOME PORTFOLIO CONTINUED FACE AMOUNT VALUE+ ------ ------ (000) 4.250%, 11/15/14............................. $ 500 $ 521,192 4.125%, 05/15/15............................. 10,000 10,595,700 2.625%, 02/29/16............................. 22,400 23,563,747 3.250%, 05/31/16............................. 10,000 10,718,750 4.875%, 08/15/16............................. 18,200 20,396,795 3.000%, 09/30/16............................. 37,000 39,584,228 3.125%, 04/30/17............................. 30,000 32,402,340 2.375%, 05/31/18............................. 25,800 27,160,537 2.250%, 07/31/18............................. 163,800 171,439,796 1.375%, 09/30/18............................. 152,600 153,160,347 3.625%, 02/15/20............................. 38,500 42,942,553 -------------- TOTAL U.S. TREASURY OBLIGATIONS.................. 1,310,847,073 -------------- SHARES VALUE+ ------ ------ TEMPORARY CASH INVESTMENTS -- (0.9%) State Street Institutional U.S. Government Money Market Fund........................... 30,906,741 $ 30,906,741 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $3,512,589,284).......................... $3,610,778,488 ============== Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ------------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ----------- -------------- ------- -------------- Agency Obligations......... -- $2,269,024,674 -- $2,269,024,674 U.S. Treasury Obligations.. -- 1,310,847,073 -- 1,310,847,073 Temporary Cash Investments. $30,906,741 -- -- 30,906,741 ----------- -------------- -- -------------- TOTAL...................... $30,906,741 $3,579,871,747 -- $3,610,778,488 =========== ============== == ============== See accompanying Notes to Financial Statements. 43 DFA SHORT-TERM EXTENDED QUALITY PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 FACE AMOUNT^ VALUE+ ------- ------ (000) AGENCY OBLIGATIONS -- (3.6%) Federal Farm Credit Bank 4.875%, 12/16/15............................. $ 1,935 $ 2,117,827 Federal Home Loan Bank # 0.500%, 11/20/15............................. 9,000 9,021,150 4.875%, 05/17/17............................. 16,500 18,823,909 Federal Home Loan Mortgage Corporation # 5.125%, 10/18/16............................. 5,000 5,656,965 # 5.000%, 04/18/17............................. 14,000 15,956,752 1.250%, 05/12/17............................. 5,000 5,063,375 1.000%, 07/28/17............................. 6,000 6,019,812 Federal National Mortgage Association # 4.875%, 12/15/16............................. 15,000 16,924,680 1.250%, 01/30/17............................. 5,000 5,079,245 # 5.000%, 02/13/17............................. 5,000 5,678,410 1.875%, 09/18/18............................. 10,000 10,159,220 ------------ TOTAL AGENCY OBLIGATIONS......................... 100,501,345 ------------ BONDS -- (90.2%) 3M Co. # 1.000%, 06/26/17............................. 7,000 6,955,809 ABB Finance USA, Inc. 1.625%, 05/08/17............................. 2,642 2,654,370 ACE INA Holdings, Inc. 5.600%, 05/15/15............................. 3,567 3,832,299 2.600%, 11/23/15............................. 17,000 17,625,447 Actavis, Inc. # 1.875%, 10/01/17............................. 16,000 15,956,448 Adobe Systems, Inc. 3.250%, 02/01/15............................. 10,000 10,306,740 Aetna, Inc. 6.000%, 06/15/16............................. 5,000 5,640,065 Aflac, Inc. # 3.450%, 08/15/15............................. 1,875 1,966,365 # 2.650%, 02/15/17............................. 13,760 14,296,626 African Development Bank 1.125%, 03/15/17............................. 7,000 7,053,277 Agilent Technologies, Inc. 6.500%, 11/01/17............................. 12,677 14,796,607 Air Products & Chemicals, Inc. 2.000%, 08/02/16............................. 12,850 13,196,976 Altria Group, Inc. 4.125%, 09/11/15............................. 8,520 9,026,616 American Express Credit Corp. 2.800%, 09/19/16............................. 20,700 21,740,858 American International Group, Inc. 5.600%, 10/18/16............................. 10,000 11,207,910 5.850%, 01/16/18............................. 2,790 3,219,367 FACE AMOUNT^ VALUE+ ------- ------ (000) Ameriprise Financial, Inc. 5.650%, 11/15/15............................. $ 2,000 $ 2,192,708 Amgen, Inc 4.850%, 11/18/14............................. 5,569 5,818,007 Anadarko Petroleum Corp. # 5.950%, 09/15/16............................. 6,275 7,088,202 Anheuser-Busch Cos. LLC 5.000%, 01/15/15............................. 2,000 2,105,866 5.050%, 10/15/16............................. 5,303 5,932,996 Anheuser-Busch InBev Worldwide, Inc. # 1.375%, 07/15/17............................. 14,000 14,013,734 Aon Corp. 3.500%, 09/30/15............................. 3,000 3,142,899 Apache Corp. # 1.750%, 04/15/17............................. 5,000 5,055,755 Apple, Inc. # 1.000%, 05/03/18............................. 3,000 2,912,358 Applied Materials, Inc. 2.650%, 06/15/16............................. 4,147 4,316,463 Asian Development Bank # 1.125%, 03/15/17............................. 5,000 5,047,205 1.750%, 09/11/18............................. 8,000 8,116,648 Assurant, Inc. 5.625%, 02/15/14............................. 3,000 3,041,511 2.500%, 03/15/18............................. 10,000 9,919,070 AT&T, Inc. 2.500%, 08/15/15............................. 12,000 12,344,844 2.400%, 08/15/16............................. 6,500 6,723,457 Australia & New Zealand Banking Group, Ltd. # 1.875%, 10/06/17............................. 5,000 5,050,575 Austria Government International Bond 1.750%, 06/17/16............................. 3,000 3,094,800 Autodesk, Inc. # 1.950%, 12/15/17............................. 1,050 1,032,506 AutoZone, Inc. 6.950%, 06/15/16............................. 751 857,092 Avnet, Inc. 6.000%, 09/01/15............................. 2,000 2,161,240 Bank Nederlandse Gemeenten 1.375%, 09/27/17............................. 14,000 14,032,200 1.375%, 03/19/18............................. 25,000 24,813,700 Bank of America Corp. 4.500%, 04/01/15............................. 10,000 10,493,380 # 2.000%, 01/11/18............................. 5,800 5,782,003 Bank of New York Mellon Corp. (The) 4.300%, 05/15/14............................. 2,000 2,042,066 # 2.950%, 06/18/15............................. 6,314 6,561,383 Bank of Nova Scotia # 2.375%, 12/17/13............................. 7,000 7,017,500 3.400%, 01/22/15............................. 2,000 2,070,166 2.900%, 03/29/16............................. 10,000 10,459,400 44 DFA SHORT-TERM EXTENDED QUALITY PORTFOLIO CONTINUED FACE AMOUNT^ VALUE+ ------- ------ (000) Barclays Bank P.L.C. 5.200%, 07/10/14............................. $ 9,125 $ 9,420,814 3.900%, 04/07/15............................. 350 365,530 5.000%, 09/22/16............................. 300 332,008 Barrick Gold Finance Co. 4.875%, 11/15/14............................. 5,000 5,191,665 Baxter International, Inc. 1.850%, 06/15/18............................. 19,570 19,615,089 BB&T Corp. 5.700%, 04/30/14............................. 8,000 8,203,928 Becton Dickinson and Co. 1.750%, 11/08/16............................. 2,541 2,598,183 Belgium Government International Bond 2.750%, 03/05/15............................. 2,000 2,059,140 Bemis Co., Inc. 5.650%, 08/01/14............................. 2,000 2,072,700 Berkshire Hathaway Finance Corp. 1.600%, 05/15/17............................. 1,000 1,007,978 1.300%, 05/15/18............................. 1,600 1,573,766 Berkshire Hathaway, Inc. # 2.200%, 08/15/16............................. 5,000 5,189,245 1.900%, 01/31/17............................. 5,000 5,115,940 BHP Billiton Finance USA, Ltd. 5.500%, 04/01/14............................. 4,000 4,085,176 # 1.625%, 02/24/17............................. 10,760 10,883,966 BlackRock, Inc. 3.500%, 12/10/14............................. 6,500 6,720,577 BNP Paribas SA 3.250%, 03/11/15............................. 4,000 4,135,300 2.375%, 09/14/17............................. 3,000 3,066,522 Boeing Capital Corp. 2.900%, 08/15/18............................. 7,637 8,024,921 Boston Scientific Corp. 6.400%, 06/15/16............................. 1,000 1,120,368 BP Capital Markets P.L.C. 5.250%, 11/07/13............................. 3,000 3,000,870 3.125%, 10/01/15............................. 5,700 5,962,593 # 2.248%, 11/01/16............................. 9,101 9,404,946 Branch Banking & Trust Co. 2.300%, 10/15/18............................. 15,000 15,213,630 British Columbia, Province of Canada 2.850%, 06/15/15............................. 4,000 4,161,040 2.100%, 05/18/16............................. 5,000 5,189,155 1.200%, 04/25/17............................. 10,000 10,093,750 British Telecommunications P.L.C. 2.000%, 06/22/15............................. 12,215 12,442,504 Brown-Forman Corp. 1.000%, 01/15/18............................. 6,920 6,747,346 Caisse d'Amortissement de la Dette Sociale # 2.375%, 03/31/16............................. 5,000 5,201,175 2.125%, 04/12/17............................. 14,800 15,254,863 FACE AMOUNT^ VALUE+ ------- ------ (000) Canada Government International Bond 0.875%, 02/14/17............................. $ 10,000 $10,037,590 Canadian Natural Resources, Ltd. 1.450%, 11/14/14............................. 1,335 1,345,960 5.700%, 05/15/17............................. 8,215 9,327,163 Capital One Financial Corp. 6.250%, 11/15/13............................. 1,200 1,201,962 7.375%, 05/23/14............................. 11,000 11,404,635 # 2.150%, 03/23/15............................. 2,000 2,033,530 Cardinal Health, Inc. # 1.700%, 03/15/18............................. 8,650 8,478,955 Caterpillar Financial Services Corp. 4.750%, 02/17/15............................. 3,500 3,690,155 2.650%, 04/01/16............................. 8,000 8,342,344 2.450%, 09/06/18............................. 7,624 7,824,778 Chevron Corp. 1.104%, 12/05/17............................. 5,350 5,294,178 Cigna Corp. 2.750%, 11/15/16............................. 10,325 10,765,268 Citigroup, Inc. 4.450%, 01/10/17............................. 7,000 7,609,847 6.000%, 08/15/17............................. 7,000 8,047,417 2.500%, 09/26/18............................. 7,000 7,058,660 Coca-Cola Co. (The) 1.500%, 11/15/15............................. 5,325 5,427,176 Comcast Corp. 5.300%, 01/15/14............................. 1,000 1,009,733 # 6.500%, 01/15/17............................. 6,383 7,409,942 6.300%, 11/15/17............................. 4,000 4,718,908 5.700%, 05/15/18............................. 7,000 8,172,773 Comerica, Inc. 3.000%, 09/16/15............................. 2,000 2,083,234 Commonwealth Bank of Australia # 2.700%, 11/25/14............................. 2,000 2,050,920 Computer Sciences Corp. # 6.500%, 03/15/18............................. 9,352 10,826,333 ConAgra Foods, Inc. 1.900%, 01/25/18............................. 17,980 17,851,389 ConocoPhillips Co. # 1.050%, 12/15/17............................. 18,648 18,265,138 Constellation Energy Group, Inc. 4.550%, 06/15/15............................. 8,000 8,433,240 Cooperatieve Centrale Raiffeisen- Boerenleenbank BA 4.200%, 05/13/14............................. 6,000 6,119,430 2.125%, 10/13/15............................. 16,465 16,904,072 Costco Wholesale Corp. 1.125%, 12/15/17............................. 17,000 16,815,465 Council Of Europe Development Bank 1.500%, 06/19/17............................. 13,000 13,189,345 45 DFA SHORT-TERM EXTENDED QUALITY PORTFOLIO CONTINUED FACE AMOUNT^ VALUE+ ------- ------ (000) CR Bard, Inc. 1.375%, 01/15/18............................. $ 3,875 $ 3,787,561 Credit Suisse USA, Inc. 5.125%, 01/15/14............................. 500 504,979 4.875%, 01/15/15............................. 4,000 4,205,788 CVS Caremark Corp. 4.875%, 09/15/14............................. 6,500 6,743,022 5.750%, 06/01/17............................. 488 559,364 Daimler Finance North America LLC 6.500%, 11/15/13............................. 12,300 12,320,873 Deutsche Bank AG 3.875%, 08/18/14............................. 3,200 3,284,675 6.000%, 09/01/17............................. 12,050 13,902,471 Deutsche Telekom International Finance BV 4.875%, 07/08/14............................. 1,000 1,028,982 Development Bank of Japan, Inc. 2.875%, 04/20/15............................. 2,000 2,071,508 5.125%, 02/01/17............................. 400 451,928 Devon Energy Corp. 5.625%, 01/15/14............................. 1,100 1,111,334 Diageo Capital P.L.C. # 1.500%, 05/11/17............................. 11,500 11,556,074 Diageo Finance BV 3.250%, 01/15/15............................. 5,000 5,166,740 Diamond Offshore Drilling, Inc. 4.875%, 07/01/15............................. 1,545 1,652,379 DIRECTV Holdings LLC / DIRECTV Financing Co., Inc. 4.750%, 10/01/14............................. 3,000 3,110,103 3.550%, 03/15/15............................. 9,000 9,312,255 Dollar General Corp. # 1.875%, 04/15/18............................. 12,878 12,569,211 Dominion Resources, Inc. 1.950%, 08/15/16............................. 15,000 15,319,215 Dover Corp. 4.875%, 10/15/15............................. 6,000 6,471,120 Dow Chemical Co. (The) 2.500%, 02/15/16............................. 7,650 7,921,973 Dr. Pepper Snapple Group, Inc. 2.900%, 01/15/16............................. 12,029 12,492,044 DTE Energy Co. 7.625%, 05/15/14............................. 1,000 1,036,763 Duke Energy Corp. 3.950%, 09/15/14............................. 1,070 1,100,876 3.350%, 04/01/15............................. 2,225 2,304,223 1.625%, 08/15/17............................. 11,100 11,111,044 Eastman Chemical Co. 3.000%, 12/15/15............................. 4,000 4,160,088 2.400%, 06/01/17............................. 8,500 8,637,929 eBay, Inc. 1.625%, 10/15/15............................. 2,300 2,348,781 # 1.350%, 07/15/17............................. 1,715 1,712,066 FACE AMOUNT^ VALUE+ ------- ------ (000) Ecolab, Inc. 1.000%, 08/09/15............................. $ 10,000 $10,026,640 EI du Pont de Nemours & Co. 3.250%, 01/15/15............................. 6,000 6,200,088 6.000%, 07/15/18............................. 9,895 11,709,694 EMC Corp. 1.875%, 06/01/18............................. 10,000 10,033,810 Emerson Electric Co. 5.625%, 11/15/13............................. 905 906,332 Enbridge Energy Partners L.P. 5.875%, 12/15/16............................. 1,000 1,125,359 Encana Corp. 5.900%, 12/01/17............................. 5,000 5,723,555 EnCana Holdings Finance Corp. 5.800%, 05/01/14............................. 1,500 1,538,012 Enterprise Products Operating LLC 5.000%, 03/01/15............................. 1,000 1,054,204 1.250%, 08/13/15............................. 3,000 3,016,446 3.200%, 02/01/16............................. 5,000 5,244,155 EOG Resources, Inc. 2.950%, 06/01/15............................. 5,000 5,187,010 # 2.500%, 02/01/16............................. 2,549 2,643,856 EUROFIMA 4.250%, 02/04/14............................. 3,000 3,029,220 5.250%, 04/07/16............................. 5,000 5,546,320 European Bank for Reconstruction & Development 2.750%, 04/20/15............................. 2,000 2,068,776 European Investment Bank 4.875%, 01/17/17............................. 5,000 5,631,550 # 1.625%, 06/15/17............................. 4,000 4,083,616 1.125%, 09/15/17............................. 3,000 3,001,956 Exelon Corp. 4.900%, 06/15/15............................. 13,500 14,304,060 Export Development Canada 2.250%, 05/28/15............................. 1,000 1,030,370 1.250%, 10/26/16............................. 11,000 11,192,731 Fifth Third Bancorp 3.625%, 01/25/16............................. 14,685 15,500,311 Finland Government International Bond 2.250%, 03/17/16............................. 7,000 7,284,900 Ford Motor Credit Co. LLC 5.000%, 05/15/18............................. 10,000 11,078,560 France Government Bond OAT 1.000%, 05/25/18............................. EUR 30,000 40,931,212 Freeport-McMoRan Copper & Gold, Inc. # 2.150%, 03/01/17............................. 4,180 4,196,315 General Dynamics Corp. # 1.000%, 11/15/17............................. 7,700 7,535,982 46 DFA SHORT-TERM EXTENDED QUALITY PORTFOLIO CONTINUED FACE AMOUNT^ VALUE+ ------- ------ (000) General Electric Capital Corp. 3.750%, 11/14/14............................. $ 3,000 $ 3,103,416 2.250%, 11/09/15............................. 2,000 2,057,044 # 2.950%, 05/09/16............................. 4,000 4,194,080 Georgia Power Co. 0.750%, 08/10/15............................. 14,375 14,400,861 5.250%, 12/15/15............................. 3,040 3,322,796 GlaxoSmithKline Capital P.L.C. # 1.500%, 05/08/17............................. 16,000 16,149,248 Goldman Sachs Group, Inc. (The) 6.000%, 05/01/14............................. 1,200 1,232,304 5.125%, 01/15/15............................. 5,900 6,198,516 # 3.625%, 02/07/16............................. 10,000 10,554,230 Google, Inc. # 2.125%, 05/19/16............................. 14,700 15,249,280 Halliburton Co. 1.000%, 08/01/16............................. 9,095 9,102,603 Hartford Financial Services Group, Inc. 4.000%, 03/30/15............................. 2,000 2,086,874 Hershey Co. (The) 4.850%, 08/15/15............................. 500 535,695 1.500%, 11/01/16............................. 5,000 5,070,635 Hess Corp. 7.000%, 02/15/14............................. 3,100 3,152,526 Hewlett-Packard Co. 6.125%, 03/01/14............................. 4,100 4,169,958 2.200%, 12/01/15............................. 3,000 3,053,334 # 2.600%, 09/15/17............................. 1,000 1,016,666 5.500%, 03/01/18............................. 5,000 5,574,345 Hillshire Brands Co. 2.750%, 09/15/15............................. 1,000 1,030,547 Home Depot, Inc. (The) 5.400%, 03/01/16............................. 900 995,959 HSBC Finance Corp. 5.500%, 01/19/16............................. 2,000 2,183,894 HSBC USA, Inc. 1.625%, 01/16/18............................. 15,800 15,677,471 Husky Energy, Inc. 5.900%, 06/15/14............................. 4,600 4,745,802 ICI Wilmington, Inc. 5.625%, 12/01/13............................. 1,000 1,003,731 Intel Corp. 1.950%, 10/01/16............................. 12,000 12,378,396 International Bank for Reconstruction & Development 2.375%, 05/26/15............................. 2,000 2,065,508 1.000%, 09/15/16............................. 2,000 2,021,746 # 0.875%, 04/17/17............................. 12,000 12,038,712 International Finance Corp. 0.875%, 06/15/18............................. 3,000 2,934,060 Japan Bank for International Cooperation 2.250%, 07/13/16............................. 5,000 5,189,890 FACE AMOUNT^ VALUE+ ------- ------ (000) Jefferies Group LLC 5.125%, 04/13/18............................. $ 1,875 $ 2,018,839 John Deere Capital Corp. # 2.000%, 01/13/17............................. 6,600 6,781,916 Johnson & Johnson # 2.150%, 05/15/16............................. 2,000 2,074,124 Johnson Controls, Inc. 5.500%, 01/15/16............................. 6,291 6,882,379 2.600%, 12/01/16............................. 5,600 5,808,410 JPMorgan Chase & Co. 4.650%, 06/01/14............................. 6,000 6,149,184 3.400%, 06/24/15............................. 2,500 2,604,298 3.150%, 07/05/16............................. 12,000 12,602,844 Kellogg Co. 1.875%, 11/17/16............................. 5,185 5,306,288 KeyCorp 3.750%, 08/13/15............................. 7,825 8,216,540 KFW 2.000%, 06/01/16............................. 1,000 1,036,630 4.875%, 01/17/17............................. 5,000 5,640,050 1.250%, 02/15/17............................. 14,000 14,190,386 # 0.875%, 09/05/17............................. 5,000 4,964,625 Kinder Morgan Energy Partners L.P. # 5.000%, 12/15/13............................. 2,000 2,010,162 3.500%, 03/01/16............................. 11,000 11,580,459 Kohl's Corp. # 6.250%, 12/15/17............................. 5,000 5,802,870 Kommunalbanken A.S. 2.375%, 01/19/16............................. 1,500 1,558,899 1.000%, 09/26/17............................. 4,000 3,963,000 1.000%, 03/15/18............................. 10,000 9,797,400 Kommunekredit 1.125%, 03/15/18............................. 10,000 9,840,660 Kommuninvest I Sverige AB 1.000%, 10/24/17............................. 15,000 14,898,780 Laboratory Corp. of America Holdings 2.200%, 08/23/17............................. 17,824 17,935,650 Landeskreditbank Baden- Wuerttemberg Foerderbank 2.250%, 07/15/16............................. 7,800 8,109,785 Landwirtschaftliche Rentenbank 0.875%, 09/12/17............................. 12,600 12,494,840 Lloyds TSB Bank P.L.C. # 4.200%, 03/28/17............................. 10,900 11,796,590 Lorillard Tobacco Co. # 2.300%, 08/21/17............................. 4,150 4,191,039 Lowe's Cos., Inc. 5.000%, 10/15/15............................. 10,000 10,833,600 Manitoba, Province of Canada # 2.625%, 07/15/15............................. 8,000 8,295,840 47 DFA SHORT-TERM EXTENDED QUALITY PORTFOLIO CONTINUED FACE AMOUNT^ VALUE+ ------- ------ (000) Marsh & McLennan Cos., Inc. 5.750%, 09/15/15............................. $ 852 $ 925,977 2.300%, 04/01/17............................. 9,080 9,181,696 McDonald's Corp. 5.350%, 03/01/18............................. 3,992 4,597,067 McKesson Corp. 1.400%, 03/15/18............................. 10,339 10,069,431 Medtronic, Inc. 3.000%, 03/15/15............................. 6,500 6,720,389 Merck Sharp & Dohme Corp. 4.750%, 03/01/15............................. 3,000 3,172,023 MetLife, Inc. # 5.500%, 06/15/14............................. 2,081 2,145,195 5.000%, 06/15/15............................. 5,000 5,336,525 6.750%, 06/01/16............................. 3,000 3,437,859 Microsoft Corp. # 2.500%, 02/08/16............................. 11,000 11,488,598 Molson Coors Brewing Co. 2.000%, 05/01/17............................. 985 998,400 Mondelez International, Inc. 6.500%, 08/11/17............................. 5,000 5,832,550 Morgan Stanley 4.750%, 03/22/17............................. 20,567 22,535,447 Motorola Solutions, Inc. 6.000%, 11/15/17............................. 1,000 1,147,880 Municipality Finance P.L.C. 2.375%, 05/16/16............................. 20,000 20,840,000 1.125%, 04/17/18............................. 25,000 24,538,000 Murphy Oil Corp. # 2.500%, 12/01/17............................. 4,000 4,028,172 NASDAQ OMX Group, Inc. (The) 4.000%, 01/15/15............................. 5,400 5,585,436 National City Corp. 4.900%, 01/15/15............................. 11,273 11,847,968 Nederlandse Waterschapsbank NV 3.000%, 03/17/15............................. 3,000 3,107,172 2.125%, 06/16/16............................. 6,000 6,213,288 Nestle Holdings, Inc. 2.125%, 03/12/14............................. 6,500 6,541,600 NetApp, Inc. # 2.000%, 12/15/17............................. 10,000 9,942,150 Network Rail Infrastructure Finance P.L.C. 1.250%, 08/31/16............................. 4,600 4,675,826 Newell Rubbermaid, Inc. 6.250%, 04/15/18............................. 13,000 14,951,222 NextEra Energy Capital Holdings, Inc. 2.550%, 11/15/13............................. 1,350 1,350,720 Nippon Telegraph & Telephone Corp. 1.400%, 07/18/17............................. 1,425 1,421,536 Nisource Finance Corp. 6.400%, 03/15/18............................. 3,000 3,498,351 FACE AMOUNT^ VALUE+ ------- ------ (000) Noble Holding International, Ltd. 2.500%, 03/15/17............................. $ 10,875 $11,033,905 Nomura Holdings, Inc. 5.000%, 03/04/15............................. 3,000 3,146,013 Nordic Investment Bank # 0.750%, 01/17/18............................. 11,000 10,799,085 Novartis Capital Corp. 2.900%, 04/24/15............................. 2,200 2,282,245 Nucor Corp. 5.750%, 12/01/17............................. 2,400 2,738,381 Occidental Petroleum Corp. 1.450%, 12/13/13............................. 4,355 4,360,291 2.500%, 02/01/16............................. 5,361 5,554,430 Oesterreichische Kontrollbank AG 1.750%, 10/05/15............................. 1,900 1,946,056 2.000%, 06/03/16............................. 3,800 3,932,734 Ohio Power Co. 6.000%, 06/01/16............................. 2,000 2,234,910 Omnicom Group, Inc. 5.900%, 04/15/16............................. 1,475 1,642,674 ONEOK Partners L.P. 6.150%, 10/01/16............................. 11,682 13,160,486 Ontario, Province of Canada # 4.950%, 11/28/16............................. 10,000 11,213,140 # 1.200%, 02/14/18............................. 10,000 9,906,080 Oracle Corp. # 5.250%, 01/15/16............................. 4,000 4,396,632 1.200%, 10/15/17............................. 5,100 5,032,420 Orange SA 4.375%, 07/08/14............................. 3,350 3,429,368 2.125%, 09/16/15............................. 6,505 6,621,934 PACCAR Financial Corp. 0.750%, 08/14/15............................. 10,000 10,042,850 PepsiCo, Inc. 3.100%, 01/15/15............................. 868 894,341 # 5.000%, 06/01/18............................. 9,367 10,655,852 Petro-Canada 6.050%, 05/15/18............................. 6,000 7,024,866 Philip Morris International, Inc. 6.875%, 03/17/14............................. 3,800 3,890,220 1.625%, 03/20/17............................. 5,000 5,045,600 Plains All American Pipeline L.P. / PAA Finance Corp. 6.500%, 05/01/18............................. 3,142 3,715,368 PNC Funding Corp. 5.400%, 06/10/14............................. 500 514,738 Potash Corp. of Saskatchewan, Inc. # 3.750%, 09/30/15............................. 3,000 3,158,172 3.250%, 12/01/17............................. 1,725 1,829,226 PPG Industries, Inc. 1.900%, 01/15/16............................. 3,845 3,909,900 PPL Energy Supply LLC 5.400%, 08/15/14............................. 900 932,851 48 DFA SHORT-TERM EXTENDED QUALITY PORTFOLIO CONTINUED FACE AMOUNT^ VALUE+ ------- ------ (000) Procter & Gamble Co. (The) 1.800%, 11/15/15............................. $ 5,000 $ 5,131,265 Progress Energy, Inc. 5.625%, 01/15/16............................. 2,000 2,198,458 Prudential Financial, Inc. 5.100%, 09/20/14............................. 2,365 2,458,195 3.000%, 05/12/16............................. 9,000 9,423,999 Quest Diagnostics, Inc. 5.450%, 11/01/15............................. 1,000 1,081,483 3.200%, 04/01/16............................. 2,000 2,082,486 Questar Corp. 2.750%, 02/01/16............................. 9,390 9,727,627 Qwest Corp. 7.500%, 10/01/14............................. 5,458 5,767,447 6.500%, 06/01/17............................. 1,000 1,121,752 Raytheon Co. 6.750%, 03/15/18............................. 4,097 4,934,750 Republic Services, Inc. 3.800%, 05/15/18............................. 5,428 5,796,067 Rio Tinto Finance USA, Ltd. 2.500%, 05/20/16............................. 8,347 8,615,206 # 2.250%, 09/20/16............................. 8,000 8,220,848 Roper Industries, Inc. 2.050%, 10/01/18............................. 1,885 1,860,863 Royal Bank of Canada 2.300%, 07/20/16............................. 5,500 5,696,696 Royal Bank of Scotland Group P.L.C. 2.550%, 09/18/15............................. 2,000 2,048,360 Ryder System, Inc. 2.500%, 03/01/18............................. 3,495 3,523,400 Safeway, Inc. 5.625%, 08/15/14............................. 1,000 1,028,220 Sempra Energy # 6.500%, 06/01/16............................. 9,699 10,992,100 Shell International Finance BV 1.125%, 08/21/17............................. 5,000 4,979,185 Singapore Government Bond 0.500%, 04/01/18............................. SGD 10,000 7,984,833 Societe Financement de l'Economie Francaise 3.375%, 05/05/14............................. 2,000 2,031,292 2.875%, 09/22/14............................. 3,000 3,068,238 Societe Generale SA # 2.750%, 10/12/17............................. 8,000 8,276,376 Southern Power Co. 4.875%, 07/15/15............................. 2,000 2,133,462 Southwest Airlines Co. 5.250%, 10/01/14............................. 3,000 3,113,310 Spectra Energy Capital LLC 5.668%, 08/15/14............................. 1,500 1,556,801 Starwood Hotels & Resorts Worldwide, Inc. 6.750%, 05/15/18............................. 5,135 6,076,405 State Street Corp. 4.300%, 05/30/14............................. 5,500 5,624,108 2.875%, 03/07/16............................. 6,000 6,292,326 FACE AMOUNT^ VALUE+ ------- ------ (000) Statoil ASA # 1.200%, 01/17/18............................. $ 2,354 $ 2,322,737 1.150%, 05/15/18............................. 3,300 3,244,270 SunTrust Banks, Inc. 3.600%, 04/15/16............................. 10,000 10,606,550 Svensk Exportkredit AB # 2.125%, 07/13/16............................. 10,000 10,372,270 1.750%, 05/30/17............................. 5,000 5,116,675 Symantec Corp. # 2.750%, 06/15/17............................. 5,000 5,115,505 TD Ameritrade Holding Corp. 4.150%, 12/01/14............................. 8,569 8,890,115 Texas Instruments, Inc. 2.375%, 05/16/16............................. 9,247 9,623,223 Thermo Fisher Scientific, Inc. # 3.200%, 05/01/15............................. 1,300 1,340,847 # 1.850%, 01/15/18............................. 5,590 5,512,495 Time Warner Cable, Inc. # 3.500%, 02/01/15............................. 8,000 8,228,608 Time Warner, Inc. 5.875%, 11/15/16............................. 12,484 14,154,771 TJX Cos., Inc. 4.200%, 08/15/15............................. 1,575 1,674,316 Toronto-Dominion Bank (The) 2.375%, 10/19/16............................. 3,000 3,119,931 Total Capital SA # 3.125%, 10/02/15............................. 5,000 5,239,455 Toyota Motor Credit Corp. 2.800%, 01/11/16............................. 10,500 10,972,468 2.000%, 09/15/16............................. 5,000 5,147,975 Transatlantic Holdings, Inc. 5.750%, 12/14/15............................. 1,000 1,093,396 TransCanada PipeLines, Ltd. 0.875%, 03/02/15............................. 3,900 3,912,215 3.400%, 06/01/15............................. 6,000 6,263,718 Travelers Cos., Inc. (The) 5.500%, 12/01/15............................. 8,500 9,327,271 UBS AG 3.875%, 01/15/15............................. 4,939 5,127,744 5.875%, 12/20/17............................. 5,200 6,027,986 Unilever Capital Corp. # 2.750%, 02/10/16............................. 9,080 9,497,535 Union Bank NA 3.000%, 06/06/16............................. 12,000 12,646,200 United Kingdom Gilt 1.000%, 09/07/17............................. GBP 42,000 66,923,221 United Technologies Corp. 4.875%, 05/01/15............................. 900 958,096 UnitedHealth Group, Inc. 4.750%, 02/10/14............................. 3,390 3,429,500 5.000%, 08/15/14............................. 3,400 3,523,570 6.000%, 06/15/17............................. 2,800 3,236,150 Unum Group 7.125%, 09/30/16............................. 9,400 10,746,371 49 DFA SHORT-TERM EXTENDED QUALITY PORTFOLIO CONTINUED FACE AMOUNT^ VALUE+ ------- ------ (000) US Bancorp 4.200%, 05/15/14............................. $ 7,035 $ 7,182,679 3.150%, 03/04/15............................. 3,000 3,106,623 Valero Energy Corp. 4.500%, 02/01/15............................. 2,000 2,090,078 6.125%, 06/15/17............................. 1,600 1,830,739 Verizon Communications, Inc. 5.550%, 02/15/16............................. 3,000 3,296,658 # 2.000%, 11/01/16............................. 17,405 17,761,594 Viacom, Inc. 1.250%, 02/27/15............................. 2,300 2,313,552 6.250%, 04/30/16............................. 5,000 5,573,680 2.500%, 12/15/16............................. 8,000 8,225,248 Vodafone Group P.L.C. 2.875%, 03/16/16............................. 11,995 12,484,972 # 5.625%, 02/27/17............................. 5,000 5,638,165 Wal-Mart Stores, Inc. 2.875%, 04/01/15............................. 5,900 6,108,925 2.800%, 04/15/16............................. 8,000 8,412,656 Walgreen Co. 1.800%, 09/15/17............................. 9,000 9,051,066 Walt Disney Co. (The) # 1.125%, 02/15/17............................. 12,000 12,010,536 Waste Management, Inc. 5.000%, 03/15/14............................. 258 262,137 # 2.600%, 09/01/16............................. 6,494 6,723,673 WellPoint, Inc. 5.875%, 06/15/17............................. 1,636 1,868,191 Wells Fargo & Co. 1.500%, 07/01/15............................. 7,000 7,096,971 2.625%, 12/15/16............................. 10,645 11,150,478 Westpac Banking Corp. 3.000%, 12/09/15............................. 6,500 6,805,110 2.000%, 08/14/17............................. 7,000 7,123,389 Westpac Securities NZ, Ltd. 3.450%, 07/28/14............................. 1,000 1,023,320 Whirlpool Corp. 7.750%, 07/15/16............................. 5,000 5,790,485 FACE AMOUNT^ VALUE+ ------- ------ (000) Williams Partners L.P. # 3.800%, 02/15/15............................. $ 3,306 $ 3,425,899 Wyndham Worldwide Corp. 2.500%, 03/01/18............................. 10,390 10,390,862 Xerox Corp. 4.250%, 02/15/15............................. 9,009 9,384,738 Yum! Brands, Inc. 6.250%, 04/15/16............................. 9,040 10,108,736 6.250%, 03/15/18............................. 3,750 4,405,883 -------------- TOTAL BONDS........................................ 2,494,629,396 -------------- SHARES/ FACE AMOUNT ------- (000) SECURITIES LENDING COLLATERAL -- (6.2%) (S)@ DFA Short Term Investment Fund............... 14,779,602 171,000,000 @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $552,875 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $499,975) to be repurchased at $490,174.. $ 490 490,172 -------------- TOTAL SECURITIES LENDING COLLATERAL................ 171,490,172 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $2,743,055,608)............................ $2,766,620,913 ============== Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) --------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ------- -------------- ------- -------------- Agency Obligations............ -- $ 100,501,345 -- $ 100,501,345 Bonds......................... -- 2,494,629,396 -- 2,494,629,396 Securities Lending Collateral. -- 171,490,172 -- 171,490,172 Forward Currency Contracts**.. -- 1,249,665 -- 1,249,665 -- -------------- -- -------------- TOTAL......................... -- $2,767,870,578 -- $2,767,870,578 == ============== == ============== **Not reflected in the Schedule of Investments, valued at the unrealized appreciation/(depreciation) on the investment. (Note G) See accompanying Notes to Financial Statements. 50 DFA INTERMEDIATE-TERM EXTENDED QUALITY PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 FACE AMOUNT^ VALUE+ - ------- ------ (000) AGENCY OBLIGATIONS -- (5.8%) Federal Farm Credit Bank 4.800%, 02/13/23............................. $ 900 $ 1,011,943 2.630%, 08/03/26............................. 9,000 8,056,314 5.770%, 01/05/27............................. 3,000 3,628,056 Federal Home Loan Bank 3.625%, 06/11/21............................. 5,000 5,367,815 # 5.250%, 12/09/22............................. 2,000 2,342,048 5.375%, 08/15/24............................. 4,000 4,705,132 5.750%, 06/12/26............................. 3,580 4,297,783 Federal Home Loan Mortgage Corporation 0.875%, 03/07/18............................. 8,000 7,861,296 # 2.375%, 01/13/22............................. 22,000 21,558,306 Federal National Mortgage Association # 1.875%, 09/18/18............................. 15,000 15,238,830 Tennessee Valley Authority # 6.750%, 11/01/25............................. 10,200 13,342,559 ----------- TOTAL AGENCY OBLIGATIONS......................... 87,410,082 ----------- BONDS -- (83.9%) ACE INA Holdings, Inc. 5.800%, 03/15/18............................. 915 1,063,754 # 2.700%, 03/13/23............................. 3,000 2,849,361 Actavis, Inc. 3.250%, 10/01/22............................. 5,100 4,852,946 Aetna, Inc. 3.950%, 09/01/20............................. 800 844,081 2.750%, 11/15/22............................. 9,000 8,408,961 Aflac, Inc. # 8.500%, 05/15/19............................. 4,005 5,210,100 Agilent Technologies, Inc. 5.000%, 07/15/20............................. 215 234,373 Allstate Corp. (The) 3.150%, 06/15/23............................. 2,000 1,959,448 Altria Group, Inc. 4.750%, 05/05/21............................. 5,731 6,173,032 American Express Co. 8.125%, 05/20/19............................. 1,900 2,475,318 American International Group, Inc. # 4.875%, 06/01/22............................. 3,000 3,282,501 Ameriprise Financial, Inc. 7.300%, 06/28/19............................. 635 795,807 Amgen, Inc. 4.500%, 03/15/20............................. 720 780,414 Anheuser-Busch InBev Worldwide, Inc. # 4.375%, 02/15/21............................. 5,700 6,217,058 2.500%, 07/15/22............................. 3,000 2,824,431 Aon Corp. 5.000%, 09/30/20............................. 2,500 2,776,865 FACE AMOUNT^ VALUE+ - ------- ------ (000) Apache Corp. 6.900%, 09/15/18............................. $ 175 $ 214,915 2.625%, 01/15/23............................. 3,000 2,795,343 Apple, Inc. # 2.400%, 05/03/23............................. 5,000 4,567,040 Arrow Electronics, Inc. 6.875%, 06/01/18............................. 3,000 3,445,098 Asian Development Bank 2.250%, 08/18/17............................. 1,000 1,044,980 Associates Corp. of North America 6.950%, 11/01/18............................. 190 226,988 Assurant, Inc. # 4.000%, 03/15/23............................. 5,000 4,904,550 AT&T, Inc. 5.800%, 02/15/19............................. 3,690 4,282,972 3.875%, 08/15/21............................. 1,800 1,821,195 3.000%, 02/15/22............................. 6,100 5,723,331 Australia & New Zealand Banking Group, Ltd. 1.450%, 05/15/18............................. 2,700 2,643,197 5.100%, 01/13/20............................. 1,500 1,695,824 Autodesk, Inc. 3.600%, 12/15/22............................. 2,000 1,895,494 AutoZone, Inc. # 2.875%, 01/15/23............................. 5,000 4,611,140 Avon Products, Inc. # 4.200%, 07/15/18............................. 2,000 2,100,038 Baker Hughes, Inc. 7.500%, 11/15/18............................. 1,260 1,581,830 Baltimore Gas & Electric Co. 2.800%, 08/15/22............................. 5,029 4,790,917 Bank Nederlandse Gemeenten 4.375%, 02/16/21............................. 3,200 3,570,624 Bank of America Corp. 3.300%, 01/11/23............................. 7,000 6,715,436 Bank of New York Mellon Corp. (The) 5.450%, 05/15/19............................. 2,300 2,661,429 Bank of Nova Scotia 4.375%, 01/13/21............................. 5,000 5,438,470 Barclays Bank P.L.C. 5.125%, 01/08/20............................. 6,000 6,757,242 Baxter International, Inc. 2.400%, 08/15/22............................. 7,140 6,643,834 3.200%, 06/15/23............................. 2,500 2,459,488 BB&T Corp. 6.850%, 04/30/19............................. 3,385 4,143,741 Beam, Inc. 3.250%, 06/15/23............................. 5,850 5,689,956 Becton Dickinson and Co. # 5.000%, 05/15/19............................. 825 940,573 51 DFA INTERMEDIATE-TERM EXTENDED QUALITY PORTFOLIO CONTINUED FACE AMOUNT^ VALUE+ - ------- ------ (000) Berkshire Hathaway Finance Corp. # 5.400%, 05/15/18............................. $ 1,000 $ 1,157,388 # 3.000%, 05/15/22............................. 5,000 4,907,975 Berkshire Hathaway, Inc. # 3.750%, 08/15/21............................. 4,000 4,206,956 # 3.400%, 01/31/22............................. 5,000 5,083,075 3.000%, 02/11/23............................. 5,000 4,881,415 BHP Billiton Finance USA, Ltd. # 6.500%, 04/01/19............................. 2,160 2,604,264 # 3.250%, 11/21/21............................. 1,500 1,510,704 BlackRock, Inc. 5.000%, 12/10/19............................. 3,230 3,700,175 4.250%, 05/24/21............................. 1,500 1,622,825 BNP Paribas SA # 3.250%, 03/03/23............................. 3,000 2,903,730 Boeing Capital Corp. 4.700%, 10/27/19............................. 700 797,623 Boeing Co. (The) 8.750%, 08/15/21............................. 1,829 2,515,491 Boston Scientific Corp. # 6.000%, 01/15/20............................. 2,900 3,379,637 BP Capital Markets P.L.C. 4.750%, 03/10/19............................. 530 594,471 4.500%, 10/01/20............................. 3,200 3,508,019 # 2.500%, 11/06/22............................. 3,500 3,234,592 Bristol-Myers Squibb Co. 2.000%, 08/01/22............................. 3,070 2,797,918 British Columbia, Province of Canada 6.500%, 01/15/26............................. 12,374 16,005,460 Broadcom Corp. # 2.500%, 08/15/22............................. 10,900 10,043,979 Brown-Forman Corp. 2.250%, 01/15/23............................. 750 685,231 Buckeye Partners L.P. 4.150%, 07/01/23............................. 3,000 2,955,528 Burlington Northern Santa Fe LLC 7.000%, 12/15/25............................. 1,340 1,703,718 CA, Inc. 5.375%, 12/01/19............................. 900 1,008,414 Cameron International Corp. 6.375%, 07/15/18............................. 485 571,799 Campbell Soup Co. 3.050%, 07/15/17............................. 1,700 1,792,604 # 4.250%, 04/15/21............................. 1,600 1,678,152 Canadian National Railway Co. 5.550%, 03/01/19............................. 1,490 1,743,637 2.850%, 12/15/21............................. 2,915 2,873,590 Canadian Natural Resources, Ltd. 5.700%, 05/15/17............................. 1,000 1,135,382 # 3.450%, 11/15/21............................. 5,250 5,276,071 Capital One Financial Corp. 4.750%, 07/15/21............................. 6,400 6,886,598 FACE AMOUNT^ VALUE+ - ------- ------ (000) Cardinal Health, Inc. # 4.625%, 12/15/20............................. $ 1,000 $ 1,081,448 3.200%, 06/15/22............................. 6,000 5,768,004 Caterpillar, Inc. # 2.600%, 06/26/22............................. 5,500 5,220,924 CBS Corp. 5.750%, 04/15/20............................. 2,800 3,172,893 3.375%, 03/01/22............................. 5,000 4,884,775 Cenovus Energy, Inc. 3.000%, 08/15/22............................. 3,000 2,854,839 CF Industries, Inc. 3.450%, 06/01/23............................. 4,260 4,059,150 Charles Schwab Corp. (The) 4.450%, 07/22/20............................. 2,750 3,024,318 Chevron Corp. 1.718%, 06/24/18............................. 12,500 12,516,587 2.355%, 12/05/22............................. 8,000 7,447,384 Chubb Corp. (The) 5.750%, 05/15/18............................. 3,990 4,663,324 Church & Dwight Co., Inc. 2.875%, 10/01/22............................. 1,600 1,514,747 Cigna Corp. 5.375%, 03/15/17............................. 710 796,669 Cisco Systems, Inc. # 4.450%, 01/15/20............................. 3,725 4,128,328 Citigroup, Inc. 8.500%, 05/22/19............................. 600 776,092 5.375%, 08/09/20............................. 1,875 2,130,998 4.500%, 01/14/22............................. 2,300 2,454,240 CNA Financial Corp. 5.750%, 08/15/21............................. 8,082 9,234,226 Coca-Cola Co. (The) 3.300%, 09/01/21............................. 2,650 2,714,528 Coca-Cola Enterprises, Inc. 3.500%, 09/15/20............................. 2,713 2,788,207 Colgate-Palmolive Co. 1.950%, 02/01/23............................. 3,000 2,715,849 Comcast Cable Communications Holdings, Inc. 9.455%, 11/15/22............................. 4,620 6,557,683 Commonwealth Bank of Australia 5.000%, 03/19/20............................. 1,225 1,380,579 Computer Sciences Corp. 4.450%, 09/15/22............................. 5,000 4,910,440 ConAgra Foods, Inc. # 3.200%, 01/25/23............................. 4,000 3,814,980 ConocoPhillips 6.000%, 01/15/20............................. 3,930 4,690,074 Consolidated Edison Co. of New York, Inc. 6.650%, 04/01/19............................. 225 275,663 CR Bard, Inc. 4.400%, 01/15/21............................. 800 853,339 Credit Suisse New York AG # 4.375%, 08/05/20............................. 5,500 5,980,249 52 DFA INTERMEDIATE-TERM EXTENDED QUALITY PORTFOLIO CONTINUED FACE AMOUNT^ VALUE+ - ------- ------ (000) CSX Corp. 4.250%, 06/01/21............................. $ 8,000 $ 8,506,072 CVS Caremark Corp. 6.250%, 06/01/27............................. 4,795 5,765,834 Darden Restaurants, Inc. # 3.350%, 11/01/22............................. 6,550 5,732,219 Deutsche Bank AG 6.000%, 09/01/17............................. 4,165 4,805,294 Deutsche Telekom International Finance BV 6.750%, 08/20/18............................. 4,085 4,915,914 Devon Energy Corp. # 3.250%, 05/15/22............................. 4,800 4,660,771 Diageo Capital P.L.C. 4.828%, 07/15/20............................. 3,600 4,050,029 Diageo Investment Corp. 2.875%, 05/11/22............................. 1,750 1,695,323 DIRECTV Holdings LLC / DIRECTV Financing Co., Inc. 3.800%, 03/15/22............................. 4,900 4,696,390 Dollar General Corp. # 3.250%, 04/15/23............................. 3,563 3,288,464 Dominion Resources, Inc. 4.450%, 03/15/21............................. 3,900 4,204,399 Dow Chemical Co. (The) # 3.000%, 11/15/22............................. 1,000 939,428 Dr Pepper Snapple Group, Inc. 2.000%, 01/15/20............................. 2,400 2,295,598 Duke Energy Corp. 5.050%, 09/15/19............................. 250 281,390 Eastman Chemical Co. 4.500%, 01/15/21............................. 1,983 2,091,442 3.600%, 08/15/22............................. 950 927,651 Ecolab, Inc. 4.350%, 12/08/21............................. 6,000 6,365,754 EI du Pont de Nemours & Co. 4.625%, 01/15/20............................. 900 994,466 EMC Corp. # 3.375%, 06/01/23............................. 6,000 5,949,588 Enbridge Energy Partners L.P. 5.200%, 03/15/20............................. 350 382,636 Encana Corp. 6.500%, 05/15/19............................. 2,250 2,654,953 # 3.900%, 11/15/21............................. 7,700 7,748,133 Energizer Holdings, Inc. # 4.700%, 05/24/22............................. 8,935 9,073,966 Energy Transfer Partners L.P. # 3.600%, 02/01/23............................. 11,000 10,491,283 Ensco P.L.C. 4.700%, 03/15/21............................. 3,800 4,104,072 Enterprise Products Operating LLC 5.200%, 09/01/20............................. 2,600 2,925,010 EOG Resources, Inc. 5.625%, 06/01/19............................. 1,000 1,173,086 # 4.100%, 02/01/21............................. 3,850 4,110,980 FACE AMOUNT^ VALUE+ ------- ------ (000) EQT Corp. 8.125%, 06/01/19............................. $ 1,625 $ 2,000,804 European Investment Bank # 2.875%, 09/15/20............................. 1,000 1,029,751 4.000%, 02/16/21............................. 1,000 1,104,017 Express Scripts Holding Co. 3.900%, 02/15/22............................. 5,000 5,124,810 FedEx Corp. # 2.625%, 08/01/22............................. 6,500 6,052,039 Fifth Third Bancorp 3.500%, 03/15/22............................. 7,500 7,489,657 FMC Technologies, Inc. 3.450%, 10/01/22............................. 8,625 8,192,206 Ford Motor Credit Co. LLC # 4.375%, 08/06/23............................. 11,000 11,304,073 France Government Bond OAT 3.000%, 04/25/22............................. EUR 10,000 14,734,295 France Telecom SA 5.375%, 07/08/19............................. 2,350 2,652,551 4.125%, 09/14/21............................. 2,900 2,989,511 Freeport-McMoRan Copper & Gold, Inc. 3.550%, 03/01/22............................. 3,000 2,826,018 General Dynamics Corp. 2.250%, 11/15/22............................. 7,500 6,862,507 General Electric Capital Corp. 5.500%, 01/08/20............................. 2,700 3,122,453 Georgia Power Co. 4.250%, 12/01/19............................. 3,492 3,855,472 # 2.850%, 05/15/22............................. 2,550 2,456,313 GlaxoSmithKline Capital, Inc. 5.650%, 05/15/18............................. 4,975 5,797,741 # 2.800%, 03/18/23............................. 3,500 3,343,834 Goldman Sachs Group, Inc. (The) 6.000%, 06/15/20............................. 2,150 2,488,210 5.250%, 07/27/21............................. 5,500 6,068,606 Google, Inc. 3.625%, 05/19/21............................. 1,000 1,059,289 Great Plains Energy, Inc. 4.850%, 06/01/21............................. 2,000 2,137,176 Halliburton Co. 5.900%, 09/15/18............................. 1,000 1,179,901 6.150%, 09/15/19............................. 2,360 2,837,171 Hartford Financial Services Group, Inc. 5.500%, 03/30/20............................. 3,185 3,631,932 # 5.125%, 04/15/22............................. 3,000 3,353,979 Hershey Co. (The) 2.625%, 05/01/23............................. 1,527 1,450,958 Hess Corp. 8.125%, 02/15/19............................. 3,745 4,717,382 Hewlett-Packard Co. 5.500%, 03/01/18............................. 1,000 1,114,869 4.375%, 09/15/21............................. 2,500 2,499,263 53 DFA INTERMEDIATE-TERM EXTENDED QUALITY PORTFOLIO CONTINUED FACE AMOUNT^ VALUE+ - ------- ------ (000) Home Depot, Inc. (The) # 4.400%, 04/01/21............................. $ 6,000 $ 6,600,504 2.700%, 04/01/23............................. 2,000 1,894,464 Honeywell International, Inc. 5.000%, 02/15/19............................. 2,895 3,312,647 Hormel Foods Corp. 4.125%, 04/15/21............................. 2,310 2,388,732 HSBC Holdings P.L.C. 4.000%, 03/30/22............................. 3,000 3,104,157 Husky Energy, Inc. 7.250%, 12/15/19............................. 2,500 3,078,525 Indiana Michigan Power Co. 7.000%, 03/15/19............................. 235 283,189 Integrys Energy Group, Inc. 4.170%, 11/01/20............................. 1,000 1,050,794 Intel Corp. 3.300%, 10/01/21............................. 7,400 7,462,138 2.700%, 12/15/22............................. 3,000 2,814,366 Inter-American Development Bank 7.000%, 06/15/25............................. 6,000 7,933,368 6.750%, 07/15/27............................. 3,000 3,968,754 International Bank for Reconstruction & Development 7.625%, 01/19/23............................. 7,700 10,715,412 International Business Machines Corp. 1.875%, 08/01/22............................. 700 629,829 Japan Finance Organization for Municipalities 5.000%, 05/16/17............................. 1,300 1,479,530 John Deere Capital Corp. 2.750%, 03/15/22............................. 5,000 4,836,420 Johnson & Johnson 2.950%, 09/01/20............................. 3,000 3,113,034 JPMorgan Chase & Co. 6.300%, 04/23/19............................. 3,500 4,146,607 4.950%, 03/25/20............................. 630 701,746 4.350%, 08/15/21............................. 5,200 5,513,451 Juniper Networks, Inc. 4.600%, 03/15/21............................. 4,000 4,120,984 Kellogg Co. 3.250%, 05/21/18............................. 2,315 2,451,731 Kerr-McGee Corp. 6.950%, 07/01/24............................. 4,900 5,907,548 KeyCorp 5.100%, 03/24/21............................. 7,000 7,762,209 KFW 4.875%, 06/17/19............................. 1,350 1,570,209 2.750%, 09/08/20............................. 2,000 2,064,066 2.625%, 01/25/22............................. 3,000 3,003,612 Kimberly-Clark Corp. 2.400%, 06/01/23............................. 4,130 3,876,096 FACE AMOUNT^ VALUE+ - ------- ------ (000) Kinder Morgan Energy Partners L.P. 5.300%, 09/15/20............................. $ 2,000 $2,224,412 # 5.800%, 03/01/21............................. 550 623,130 4.150%, 03/01/22............................. 2,400 2,440,687 Kohl's Corp. # 3.250%, 02/01/23............................. 2,000 1,867,518 Koninklijke Philips Electronics NV # 3.750%, 03/15/22............................. 2,322 2,358,843 Kraft Foods Group, Inc. 3.500%, 06/06/22............................. 6,600 6,561,720 Landwirtschaftliche Rentenbank 2.375%, 09/13/17............................. 1,000 1,047,746 Lincoln National Corp. 6.250%, 02/15/20............................. 180 212,349 Lloyds TSB Bank P.L.C. 6.375%, 01/21/21............................. 2,500 2,963,380 Lockheed Martin Corp. 4.250%, 11/15/19............................. 2,700 2,953,751 Loews Corp. 2.625%, 05/15/23............................. 2,865 2,650,409 Lorillard Tobacco Co. # 6.875%, 05/01/20............................. 2,000 2,332,130 Lowe's Cos., Inc. # 3.120%, 04/15/22............................. 2,000 1,968,012 LyondellBasell Industries NV # 5.750%, 04/15/24............................. 4,000 4,578,484 Macy's Retail Holdings, Inc. 3.875%, 01/15/22............................. 4,446 4,438,455 # 2.875%, 02/15/23............................. 3,500 3,177,139 Magellan Midstream Partners L.P. 4.250%, 02/01/21............................. 3,370 3,552,573 Manitoba, Province of Canada 2.100%, 09/06/22............................. 3,000 2,787,351 Marathon Oil Corp. 6.000%, 10/01/17............................. 1,000 1,150,449 5.900%, 03/15/18............................. 227 261,457 # 2.800%, 11/01/22............................. 6,000 5,656,806 Markel Corp. 5.350%, 06/01/21............................. 4,200 4,596,211 3.625%, 03/30/23............................. 2,000 1,931,174 Marriott International, Inc. 3.000%, 03/01/19............................. 2,710 2,752,477 Marsh & McLennan Cos., Inc. 9.250%, 04/15/19............................. 225 295,841 McDonald's Corp. 2.625%, 01/15/22............................. 2,900 2,827,894 McKesson Corp. 7.500%, 02/15/19............................. 1,000 1,242,509 Medtronic, Inc. 4.450%, 03/15/20............................. 1,840 2,035,069 3.125%, 03/15/22............................. 3,407 3,376,262 MetLife, Inc. 7.717%, 02/15/19............................. 5,975 7,548,331 54 DFA INTERMEDIATE-TERM EXTENDED QUALITY PORTFOLIO CONTINUED FACE AMOUNT^ VALUE+ - ------- ------ (000) Microsoft Corp. 4.200%, 06/01/19............................. $ 3,225 $3,583,372 3.000%, 10/01/20............................. 2,000 2,050,402 Mobil Corp. 8.625%, 08/15/21............................. 2,013 2,827,502 Mondelez International, Inc. # 5.375%, 02/10/20............................. 6,700 7,602,731 Monsanto Co. 5.500%, 08/15/25............................. 3,500 4,115,622 Morgan Stanley 5.500%, 07/28/21............................. 8,320 9,360,807 Motorola Solutions, Inc. 3.750%, 05/15/22............................. 3,000 2,887,623 3.500%, 03/01/23............................. 5,000 4,695,685 Murphy Oil Corp. 4.000%, 06/01/22............................. 2,000 1,943,502 National Australia Bank, Ltd. 3.000%, 01/20/23............................. 5,000 4,736,780 National Oilwell Varco, Inc. 2.600%, 12/01/22............................. 8,500 8,018,262 NetApp, Inc. 3.250%, 12/15/22............................. 1,700 1,587,467 New Brunswick, Province of Canada 9.750%, 05/15/20............................. 1,000 1,371,817 Newell Rubbermaid, Inc. 4.000%, 06/15/22............................. 4,000 4,008,828 News America, Inc. 4.500%, 02/15/21............................. 2,800 3,015,922 Nisource Finance Corp. 6.125%, 03/01/22............................. 6,425 7,286,271 # 3.850%, 02/15/23............................. 1,100 1,074,852 Noble Holding International, Ltd. # 3.950%, 03/15/22............................. 4,100 4,062,756 Northern Trust Corp. # 3.450%, 11/04/20............................. 450 473,774 3.375%, 08/23/21............................. 4,400 4,498,850 # 2.375%, 08/02/22............................. 3,016 2,852,117 Northrop Grumman Corp. 5.050%, 08/01/19............................. 1,125 1,269,258 3.500%, 03/15/21............................. 2,256 2,292,782 Novartis Capital Corp. 4.400%, 04/24/20............................. 4,000 4,413,436 NSTAR LLC 4.500%, 11/15/19............................. 1,900 2,100,471 Occidental Petroleum Corp. # 2.700%, 02/15/23............................. 8,650 8,060,641 Ohio Power Co. 5.375%, 10/01/21............................. 3,606 4,088,270 Omnicom Group, Inc. 4.450%, 08/15/20............................. 3,650 3,850,962 ONEOK Partners L.P. 8.625%, 03/01/19............................. 4,200 5,354,446 Ontario, Province of Canada 2.450%, 06/29/22............................. 1,700 1,610,679 Oracle Corp. 5.000%, 07/08/19............................. 2,100 2,400,275 2.500%, 10/15/22............................. 3,000 2,811,222 FACE AMOUNT^ VALUE+ - ------- ------ (000) PepsiCo, Inc. 4.500%, 01/15/20............................. $ 1,575 $1,740,512 Petro-Canada 6.050%, 05/15/18............................. 2,261 2,647,204 Philip Morris International, Inc. 2.500%, 08/22/22............................. 1,504 1,401,921 Plains All American Pipeline L.P. / PAA Finance Corp. 6.500%, 05/01/18............................. 2,130 2,518,693 # 5.000%, 02/01/21............................. 1,000 1,095,219 2.850%, 01/31/23............................. 4,000 3,703,604 PNC Funding Corp. 4.375%, 08/11/20............................. 4,730 5,137,887 PPG Industries, Inc. 2.700%, 08/15/22............................. 1,000 932,838 PPL Energy Supply LLC # 4.600%, 12/15/21............................. 9,181 9,028,898 Praxair, Inc. 4.050%, 03/15/21............................. 3,800 4,031,036 # 2.200%, 08/15/22............................. 1,250 1,150,550 Precision Castparts Corp. # 2.500%, 01/15/23............................. 8,000 7,442,128 Principal Financial Group, Inc. 8.875%, 05/15/19............................. 330 431,855 Private Export Funding Corp. 4.300%, 12/15/21............................. 1,407 1,568,339 Procter & Gamble Co. (The) # 2.300%, 02/06/22............................. 4,000 3,833,792 Progress Energy, Inc. # 7.050%, 03/15/19............................. 2,000 2,433,942 Progressive Corp. (The) 3.750%, 08/23/21............................. 6,800 7,104,531 Prudential Financial, Inc. 5.375%, 06/21/20............................. 4,170 4,753,370 Quest Diagnostics, Inc. # 4.700%, 04/01/21............................. 1,770 1,869,734 Raytheon Co. 3.125%, 10/15/20............................. 2,900 2,950,124 2.500%, 12/15/22............................. 2,200 2,034,685 Reinsurance Group of America, Inc. # 5.625%, 03/15/17............................. 200 222,060 5.000%, 06/01/21............................. 1,500 1,612,458 Republic Services, Inc. # 3.550%, 06/01/22............................. 4,000 3,942,092 Reynolds American, Inc. 3.250%, 11/01/22............................. 6,850 6,470,846 Rio Tinto Finance USA, Ltd. 4.125%, 05/20/21............................. 3,800 3,931,005 Rowan Cos., Inc. 7.875%, 08/01/19............................. 600 731,264 Ryder System, Inc. 5.850%, 11/01/16............................. 1,400 1,554,809 Safeway, Inc. 5.000%, 08/15/19............................. 2,025 2,091,734 SCANA Corp. 6.250%, 04/01/20............................. 1,750 1,949,705 4.125%, 02/01/22............................. 3,035 3,011,039 55 DFA INTERMEDIATE-TERM EXTENDED QUALITY PORTFOLIO CONTINUED FACE AMOUNT^ VALUE+ - ------- ------ (000) Sempra Energy 9.800%, 02/15/19............................. $ 160 $ 215,074 Shell International Finance BV 4.300%, 09/22/19............................. 1,500 1,664,309 # 4.375%, 03/25/20............................. 3,000 3,313,614 Southwestern Public Service Co. 8.750%, 12/01/18............................. 350 451,320 StanCorp Financial Group, Inc. 5.000%, 08/15/22............................. 5,000 5,053,175 Starwood Hotels & Resorts Worldwide, Inc. 3.125%, 02/15/23............................. 2,000 1,850,872 State Street Corp. 4.375%, 03/07/21............................. 6,200 6,758,136 Statoil ASA 2.650%, 01/15/24............................. 10,860 10,110,226 Sunoco Logistics Partners Operations L.P. 4.650%, 02/15/22............................. 2,895 2,997,674 SunTrust Bank 2.750%, 05/01/23............................. 4,900 4,493,770 Talisman Energy, Inc. 7.750%, 06/01/19............................. 2,760 3,262,077 Target Corp. # 3.875%, 07/15/20............................. 2,000 2,157,128 # 2.900%, 01/15/22............................. 7,676 7,544,280 TD Ameritrade Holding Corp. 5.600%, 12/01/19............................. 2,952 3,450,487 Teck Resources, Ltd. 3.750%, 02/01/23............................. 6,600 6,215,114 Texas Instruments, Inc. 1.650%, 08/03/19............................. 7,500 7,279,440 The Kroger Co. 3.850%, 08/01/23............................. 4,000 3,974,500 Thermo Fisher Scientific, Inc. # 4.500%, 03/01/21............................. 4,000 4,245,936 Time Warner Cable, Inc. # 8.750%, 02/14/19............................. 2,645 3,151,256 Time Warner, Inc. 4.750%, 03/29/21............................. 2,200 2,385,500 4.000%, 01/15/22............................. 1,800 1,844,357 TJX Cos., Inc. # 2.500%, 05/15/23............................. 3,310 3,092,742 Toronto-Dominion Bank (The) 1.400%, 04/30/18............................. 4,000 3,924,884 Total Capital SA 4.450%, 06/24/20............................. 3,000 3,317,169 Toyota Motor Credit Corp. 4.250%, 01/11/21............................. 1,200 1,301,186 # 3.300%, 01/12/22............................. 6,165 6,222,754 TransAlta Corp. 4.500%, 11/15/22............................. 5,000 4,877,225 TransCanada PipeLines, Ltd. 7.125%, 01/15/19............................. 915 1,128,059 3.800%, 10/01/20............................. 2,000 2,108,186 2.500%, 08/01/22............................. 5,112 4,770,702 FACE AMOUNT^ VALUE+ - ------- ------ (000) Travelers Cos., Inc. (The) 5.800%, 05/15/18............................. $ 190 $ 222,384 3.900%, 11/01/20............................. 4,200 4,524,933 Tyson Foods, Inc. 4.500%, 06/15/22............................. 4,000 4,147,076 UBS AG 4.875%, 08/04/20............................. 5,928 6,668,093 Unilever Capital Corp. 4.800%, 02/15/19............................. 825 936,992 4.250%, 02/10/21............................. 3,500 3,848,572 UnionBanCal Corp. # 3.500%, 06/18/22............................. 8,550 8,582,199 United Parcel Service, Inc. 3.125%, 01/15/21............................. 2,000 2,043,512 United Technologies Corp. 4.500%, 04/15/20............................. 1,925 2,144,481 UnitedHealth Group, Inc. 2.750%, 02/15/23............................. 7,750 7,275,777 Unum Group 5.625%, 09/15/20............................. 3,500 3,902,832 US Bancorp 3.000%, 03/15/22............................. 3,000 2,967,348 Valero Energy Corp. 9.375%, 03/15/19............................. 2,375 3,099,237 Verizon Communications, Inc. 8.750%, 11/01/18............................. 367 473,008 4.600%, 04/01/21............................. 4,050 4,349,578 VF Corp. 3.500%, 09/01/21............................. 2,000 2,028,108 Viacom, Inc. # 4.500%, 03/01/21............................. 2,900 3,057,241 Vodafone Group P.L.C. 4.375%, 03/16/21............................. 4,500 4,795,996 # 2.500%, 09/26/22............................. 5,000 4,531,465 Wal-Mart Stores, Inc. 5.800%, 02/15/18............................. 1,000 1,174,884 # 3.625%, 07/08/20............................. 3,075 3,271,047 4.250%, 04/15/21............................. 4,000 4,373,544 2.550%, 04/11/23............................. 5,000 4,690,795 Walgreen Co. 5.250%, 01/15/19............................. 1,320 1,495,233 # 3.100%, 09/15/22............................. 2,124 2,025,497 Walt Disney Co. (The) 2.550%, 02/15/22............................. 4,000 3,840,716 Waste Management, Inc. 4.600%, 03/01/21............................. 2,860 3,071,331 WellPoint, Inc. 3.125%, 05/15/22............................. 4,900 4,695,944 Wells Fargo & Co. # 4.600%, 04/01/21............................. 2,100 2,312,978 # 3.500%, 03/08/22............................. 9,700 9,841,048 Western Union Co. (The) 3.650%, 08/22/18............................. 3,000 3,123,564 # 5.253%, 04/01/20............................. 3,568 3,870,995 Westpac Banking Corp. 4.875%, 11/19/19............................. 2,250 2,541,382 56 DFA INTERMEDIATE-TERM EXTENDED QUALITY PORTFOLIO CONTINUED FACE AMOUNT^ VALUE+ - ------- ------ (000) Whirlpool Corp. 4.700%, 06/01/22............................. $ 3,000 3,162,465 Williams Partners L.P. 4.000%, 11/15/21............................. 3,500 3,500,262 # 3.350%, 08/15/22............................. 1,300 1,226,952 Wisconsin Electric Power Co. 2.950%, 09/15/21............................. 6,675 6,684,752 Wisconsin Power & Light Co. 5.000%, 07/15/19............................. 500 568,860 WR Berkley Corp. # 5.375%, 09/15/20............................. 800 882,097 Wyndham Worldwide Corp. 3.900%, 03/01/23............................. 3,027 2,923,655 Xerox Corp. # 4.500%, 05/15/21............................. 5,000 5,191,130 Yum! Brands, Inc. # 3.750%, 11/01/21............................. 5,830 5,916,850 Zimmer Holdings, Inc. 4.625%, 11/30/19............................. 2,500 2,762,178 ------------- TOTAL BONDS...................................... 1,266,338,078 ------------- SHARES/ FACE AMOUNT VALUE+ ------- ------ (000) SECURITIES LENDING COLLATERAL -- (10.3%) (S)@ DFA Short Term Investment Fund............... 13,396,716 $ 155,000,000 @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $764,839 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $691,658) to be repurchased at $678,098.. $ 678 678,096 -------------- TOTAL SECURITIES LENDING COLLATERAL................ 155,678,096 -------------- TOTAL INVESTMENTS --(100.0%) (Cost $1,522,001,914).............................. $1,509,426,256 ============== See accompanying Notes to Financial Statements. 57 Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ---------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ------- -------------- ------- -------------- Agency Obligations............ -- $ 87,410,082 -- $ 87,410,082 Bonds......................... -- 1,266,338,078 -- 1,266,338,078 Securities Lending Collateral. -- 155,678,096 -- 155,678,096 Forward Currency Contracts**.. -- (13,373) -- (13,373) -- -------------- -- -------------- TOTAL......................... -- $1,509,412,883 -- $1,509,412,883 == ============== == ============== **Not reflected in the Schedule of Investments, valued at the unrealized appreciation/(depreciation) on the investment. (Note G) DFA INVESTMENT GRADE PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 SHARES VALUE+ ---------- -------------- AFFILIATED INVESTMENT COMPANIES -- (98.2%) Investment in DFA Intermediate-Term Extended Quality Portfolio of DFA Investment Dimensions Group Inc............................... 72,959,514 $ 766,074,895 Investment in DFA Intermediate Government Fixed Income Portfolio of DFA Investment Dimensions Group Inc............................... 39,133,450 489,950,788 Investment in DFA Short-Term Extended Quality Portfolio of DFA Investment Dimensions Group Inc............................... 8,108,030 88,053,208 Investment in DFA Short-Term Government Portfolio of DFA Investment Dimensions Group Inc............................... 7,384,315 79,012,175 -------------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANIES (Cost $1,442,974,330).......................................... 1,423,091,066 -------------- TEMPORARY CASH INVESTMENTS -- (1.8%) State Street Institutional Liquid Reserves, 0.073% (Cost $26,001,339)................................................ 26,001,339 26,001,339 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $1,468,975,669).......................................... $1,449,092,405 ============== Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) --------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL -------------- ------- ------- -------------- Affiliated Investment Companies. $1,423,091,066 -- -- $1,423,091,066 Temporary Cash Investments...... 26,001,339 -- -- 26,001,339 -------------- -- -- -------------- TOTAL........................... $1,449,092,405 -- -- $1,449,092,405 ============== == == ============== See accompanying Notes to Financial Statements. 58 DFA INFLATION-PROTECTED SECURITIES PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 FACE AMOUNT VALUE+ ---------- -------------- (000) U.S. TREASURY OBLIGATIONS -- (99.9%) Treasury Inflation Protected Security 2.625%, 07/15/17........................................... $ 31,731 $ 36,056,378 1.625%, 01/15/18........................................... 171,357 188,826,980 1.375%, 07/15/18........................................... 172,549 190,100,207 2.125%, 01/15/19........................................... 224,174 255,260,456 1.875%, 07/15/19........................................... 245,349 278,969,919 1.375%, 01/15/20........................................... 135,511 149,093,476 1.250%, 07/15/20........................................... 160,641 176,378,867 1.125%, 01/15/21........................................... 99,426 107,333,773 0.625%, 07/15/21........................................... 146,826 153,295,510 0.125%, 01/15/22........................................... 75,429 74,745,898 0.125%, 07/15/22........................................... 46,273 45,752,023 0.125%, 01/15/23........................................... 170,015 166,016,888 2.375%, 01/15/25........................................... 96,775 115,660,744 2.000%, 01/15/26........................................... 90,494 104,570,311 2.375%, 01/15/27........................................... 83,846 101,001,149 1.750%, 01/15/28........................................... 54,923 61,655,841 3.625%, 04/15/28........................................... 90,661 125,487,697 2.500%, 01/15/29........................................... 66,446 81,910,342 3.875%, 04/15/29........................................... 111,597 160,237,042 3.375%, 04/15/32........................................... 13,176 18,504,651 -------------- TOTAL U.S. TREASURY OBLIGATIONS.............................. 2,590,858,152 -------------- SHARES ---------- TEMPORARY CASH INVESTMENTS -- (0.1%)......................... State Street Institutional U.S. Government Money Market Fund. 1,350,788 1,350,788 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $2,509,428,416)....................................... $2,592,208,940 ============== Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ------------------------------------------------ LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ---------- -------------- ------- -------------- U.S. Treasury Obligations.......... -- $2,590,858,152 -- $2,590,858,152 Temporary Cash Investments......... $1,350,788 -- -- 1,350,788 ---------- -------------- -- -------------- TOTAL.............................. $1,350,788 $2,590,858,152 -- $2,592,208,940 ========== ============== == ============== See accompanying Notes to Financial Statements. 59 DFA SHORT-TERM MUNICIPAL BOND PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 FACE AMOUNT VALUE+ ------ ------ (000) MUNICIPAL BONDS -- (95.4%) ALABAMA -- (0.5%) Alabama Water Pollution Control Authority (RB) Series B 2.000%, 08/15/14............................. $5,255 $5,327,256 City of Birmingham (GO) Series A (NATL-RE) 5.000%, 04/01/16............................. 2,800 3,090,220 ---------- TOTAL ALABAMA.................................... 8,417,476 ---------- ALASKA -- (0.4%) Alaska Industrial Dev. & Export Authority (RB) Series A (GO OF AUTH) 5.000%, 04/01/14............................. 3,000 3,058,350 City of Anchorage (GO) Series B (NATL-RE) 5.000%, 12/01/14............................. 3,440 3,615,612 ---------- TOTAL ALASKA..................................... 6,673,962 ---------- ARIZONA -- (3.2%) Arizona School Facilities Board (RB) 5.000%, 01/01/15............................. 1,125 1,186,616 Arizona State Transportation Board (RB) 5.000%, 07/01/14............................. 4,815 4,966,961 5.000%, 07/01/17............................. 2,105 2,422,855 City of Phoenix (GO) Series A 5.000%, 07/01/14............................. 7,975 8,226,691 5.000%, 07/01/15............................. 1,250 1,346,300 City of Scottsdale (GO) 5.000%, 07/01/14............................. 2,500 2,579,075 Maricopa County Community College District (GO) 3.000%, 07/01/20............................. 6,505 6,954,495 Phoenix Civic Improvement Corp. (RB) (AMBAC) 5.000%, 07/01/14............................. 4,000 4,125,440 Pima County (GO) 3.000%, 07/01/16............................. 1,625 1,720,063 Salt River Project Agricultural Improvement & Power District (RB) Series A 5.000%, 01/01/14............................. 7,000 7,054,320 5.000%, 01/01/15............................. 4,430 4,672,100 Salt River Project Agricultural Improvement & Power District (RB) Series B 4.000%, 12/01/14............................. 3,190 3,317,664 4.000%, 01/01/16............................. 5,000 5,385,950 FACE AMOUNT VALUE+ ------ ------ (000) ARIZONA -- (Continued) Town of Gilbert (GO) 5.000%, 07/01/14.............................. $ 3,600 $ 3,713,616 ----------- TOTAL ARIZONA...................................... 57,672,146 ----------- COLORADO -- (4.4%) City & County of Denver (GO) Series A 5.000%, 08/01/18.............................. 6,200 7,322,882 5.000%, 08/01/20.............................. 4,920 5,918,268 City of Aurora (GO) 5.000%, 12/01/14.............................. 4,515 4,746,484 Colorado State Education Loan Program (RN) Series A 1.250%, 06/27/14.............................. 25,000 25,178,750 Denver City & County School District No. 1 (GO) Series B (ST AID WITHHLDG) 4.000%, 12/01/18.............................. 1,185 1,340,306 State of Colorado (RN) Series A 1.500%, 06/27/14.............................. 35,000 35,306,950 ----------- TOTAL COLORADO..................................... 79,813,640 ----------- CONNECTICUT -- (5.3%) City of Danbury (GO) 1.500%, 07/25/14.............................. 30,000 30,294,300 Connecticut State (GO) Series A 4.000%, 01/01/14.............................. 5,000 5,030,100 2.500%, 02/15/14.............................. 2,000 2,013,220 3.250%, 02/15/14.............................. 2,800 2,824,332 Connecticut State (GO) Series B (NATL-RE) 5.000%, 12/01/13.............................. 5,000 5,020,450 Connecticut State (GO) Series C 5.000%, 12/01/13.............................. 5,700 5,723,313 5.000%, 12/01/15.............................. 4,000 4,380,200 Connecticut State Economic Recovery (GO) Series D 5.000%, 01/01/14.............................. 3,500 3,528,315 Connecticut State Special Tax Revenue (RB) 5.000%, 01/01/19.............................. 11,000 12,926,870 Hartford County Metropolitan District (BAN) 1.750%, 03/25/14.............................. 20,775 20,911,076 Hartford County Metropolitan District (GO) Series A 4.000%, 07/15/15.............................. 3,900 4,144,374 ----------- TOTAL CONNECTICUT.................................. 96,796,550 ----------- 60 DFA SHORT-TERM MUNICIPAL BOND PORTFOLIO CONTINUED FACE AMOUNT VALUE+ ------ ------ (000) DELAWARE -- (0.9%) City of Wilmington (GO) Series A 5.000%, 12/01/14............................. $ 2,625 $ 2,759,006 Delaware State (GO) Series A 4.000%, 08/01/17............................. 5,100 5,726,025 Delaware Transportation Authority (RB) Series A 5.000%, 07/01/15............................. 3,480 3,747,473 5.000%, 07/01/15............................. 4,270 4,598,192 ----------- TOTAL DELAWARE........................................... 16,830,696 ----------- DISTRICT OF COLUMBIA -- (2.8%) District of Columbia (GO) 2.000%, 09/30/14............................. 50,000 50,835,000 ----------- FLORIDA -- (4.2%) Broward County (GO) (currency) 5.000%, 01/01/23 (Pre-refunded @ $100, 1/1/14) 5,000 5,037,850 Florida State Board of Education (GO) Series B 5.000%, 06/01/16............................. 2,500 2,778,975 5.000%, 06/01/17............................. 9,700 11,120,759 Florida State Board of Education (GO) Series C 5.000%, 06/01/15............................. 6,440 6,914,370 Palm Beach County School District (RN) 4.500%, 01/30/14............................. 50,000 50,545,000 ----------- TOTAL FLORIDA............................................ 76,396,954 ----------- GEORGIA -- (0.8%) Athens-Clarke County Unified Government Water & Sewerage Revenue (RB) 5.000%, 01/01/17............................. 1,100 1,246,982 City of Albany (GO) 3.000%, 06/01/17............................. 2,220 2,381,904 De Kalb County School District (GO) (ST AID WITHHLDG) 4.000%, 11/01/17............................. 8,575 9,592,767 Georgia State Road & Tollway Authority (RB) Series A 5.000%, 06/01/16............................. 255 283,109 5.000%, 06/01/17............................. 1,000 1,138,880 ----------- TOTAL GEORGIA............................................ 14,643,642 ----------- HAWAII -- (1.5%) City & County of Honolulu (GO) Series B (FSA) 5.250%, 07/01/15............................. 4,220 4,563,972 Hawaii State (GO) Series DG (AMBAC) 5.000%, 07/01/15............................. 15,945 17,173,403 FACE AMOUNT VALUE+ ------ ------ (000) HAWAII -- (Continued) Hawaii State (GO) Series DT 4.000%, 11/01/14............................. $ 4,950 $ 5,134,734 ----------- TOTAL HAWAII..................................... 26,872,109 ----------- ILLINOIS -- (0.8%) Central Lake County Joint Action Water Agency (RB) 4.000%, 05/01/18............................. 6,195 6,887,663 City of Peoria (GO) Series D 4.000%, 01/01/17............................. 1,620 1,767,404 Du Page Cook & Will Counties Community College District No. 502 (GO) 5.000%, 06/01/16............................. 5,000 5,549,800 ----------- TOTAL ILLINOIS................................... 14,204,867 ----------- IOWA -- (0.3%) State of Iowa (RB) Series A 5.000%, 06/01/18............................. 4,185 4,916,956 ----------- KENTUCKY -- (0.6%) Kentucky State Asset Liability Commission (RB) Series A (AMBAC) 5.000%, 10/01/16............................. 500 561,110 Louisville & Jefferson County Metropolitan Sewer District (RB) Series B 5.000%, 05/15/15............................. 9,415 10,070,943 ----------- TOTAL KENTUCKY................................... 10,632,053 ----------- LOUISIANA -- (0.1%) Saint Tammany Parish Wide School District No.12 (GO) (ASSURED GTY) 5.000%, 03/01/16............................. 930 1,021,717 ----------- MAINE -- (0.5%) Cumberland County (TAN) 1.000%, 11/15/13............................. 8,900 8,903,204 ----------- MARYLAND -- (7.8%) Baltimore County (BAN) 1.500%, 02/24/14............................. 40,000 40,169,200 Baltimore County (GO) 5.000%, 02/01/14............................. 4,750 4,805,338 Cecil County (GO) 3.000%, 06/01/14............................. 1,110 1,127,827 Maryland State (GO) Series A 5.000%, 03/01/16............................. 3,900 4,318,080 5.000%, 08/01/19............................. 20,000 23,944,400 Maryland State (GO) Series B 5.000%, 08/01/19............................. 11,500 13,768,030 Maryland State (GO) Series C 5.000%, 03/01/16............................. 1,000 1,107,200 5.000%, 11/01/18............................. 6,905 8,227,307 61 DFA SHORT-TERM MUNICIPAL BOND PORTFOLIO CONTINUED FACE AMOUNT VALUE+ ------ ------ (000) MARYLAND -- (Continued) Maryland State Department of Transportation (RB) 5.000%, 11/01/13............................. $ 4,120 $ 4,120,000 Montgomery County (GO) Series A 5.000%, 11/01/14............................. 10,750 11,260,625 Prince County George's (GO) Series C 5.000%, 08/01/18............................. 10,075 11,909,859 University System of Maryland (RB) Series D 3.000%, 04/01/15............................. 2,200 2,284,524 Washington County Suburban Sanitation District (GO) 3.000%, 06/01/14............................. 15,000 15,243,600 ------------ TOTAL MARYLAND................................... 142,285,990 ------------ MASSACHUSETTS -- (3.5%) City of Boston (GO) Series A 5.000%, 04/01/14............................. 4,650 4,741,605 Commonwealth of Massachusetts (GO) Series A 5.000%, 08/01/14............................. 4,800 4,970,736 Commonwealth of Massachusetts (GO) Series C (GO OF CMNWLTH) 5.500%, 11/01/15............................. 2,200 2,423,894 Commonwealth of Massachusetts (GO) Series C (NATL-RE FGIC GO OF CMNWLTH) 5.500%, 11/01/14............................. 5,000 5,261,650 Commonwealth of Massachusetts (GO) Series D 5.500%, 11/01/14............................. 4,585 4,824,933 Commonwealth of Massachusetts (GO) Series D (NATL-RE) 5.500%, 11/01/13............................. 7,550 7,550,000 Commonwealth of Massachusetts (RB) Series A 5.500%, 12/15/13............................. 9,450 9,505,377 Massachusetts Water Resources Authority (RB) Series J (AGM GO OF AUTH) 5.250%, 08/01/18............................. 18,000 21,421,440 FACE AMOUNT VALUE+ ------ ------ (000) MASSACHUSETTS -- (Continued) University of Massachusetts Building Authority (RB) Series 1 (AMBAC) (currency) 5.250%, 11/01/22 (Pre-refunded @ $100, 11/1/13)............................. $ 3,490 $ 3,490,000 ----------- TOTAL MASSACHUSETTS...................................... 64,189,635 ----------- MICHIGAN -- (0.7%) Chippewa Valley Schools (GO) 5.000%, 05/01/17............................. 1,000 1,124,710 Michigan Finance Authority (RB) 5.000%, 07/01/18............................. 2,250 2,632,635 Michigan State (GO) 5.500%, 12/01/13............................. 10,000 10,043,700 ----------- TOTAL MICHIGAN........................................... 13,801,045 ----------- MINNESOTA -- (4.0%) Chaska Independent School District No. 112 (GO) Series A (SD CRED PROG) 4.000%, 02/01/15............................. 5,740 6,002,433 City of Minneapolis (GO) 3.000%, 12/01/15............................. 8,700 9,162,579 City of Minneapolis (GO) Series B 4.000%, 12/01/15............................. 8,830 9,481,477 Minnesota Public Facilities Authority (RB) Series B 5.000%, 03/01/14............................. 5,800 5,890,944 Minnesota State (GO) 5.000%, 08/01/14............................. 2,000 2,071,140 Minnesota State (GO) Series A 5.000%, 08/01/17............................. 13,665 15,807,672 Minnesota State (GO) Series H 5.000%, 11/01/14............................. 15,000 15,711,000 5.000%, 11/01/15............................. 5,000 5,459,350 Washington County (GO) Series A 5.000%, 02/01/15............................. 3,275 3,461,806 ----------- TOTAL MINNESOTA.......................................... 73,048,401 ----------- MISSISSIPPI -- (0.3%) Mississippi State (GO) Series A 5.000%, 10/01/14............................. 4,750 4,953,490 ----------- NEBRASKA -- (0.3%) University of Nebraska Facilities Corp. (RB) 5.000%, 07/15/16............................. 5,220 5,831,419 ----------- NEVADA -- (1.2%) Clark County (GO) 5.000%, 11/01/16............................. 7,425 8,316,074 62 DFA SHORT-TERM MUNICIPAL BOND PORTFOLIO CONTINUED FACE AMOUNT VALUE+ ------ ------ (000) NEVADA -- (Continued) Clark County School District (GO) Series B (AMBAC) 4.500%, 06/15/17............................. $ 5,770 $ 6,456,111 Clark County School District (GO) Series C 5.000%, 06/15/16............................. 1,000 1,107,760 Nevada State (GO) (NATL-RE FGIC) 5.000%, 12/01/13............................. 1,400 1,405,488 Truckee Meadows Water Authority (RB) 5.000%, 07/01/15............................. 3,900 4,197,063 ----------- TOTAL NEVADA..................................... 21,482,496 ----------- NEW HAMPSHIRE -- (0.2%) City of Dover (GO) 3.000%, 06/15/16............................. 1,850 1,958,410 3.000%, 06/15/17............................. 1,000 1,063,780 City of Nashua (GO) 5.000%, 03/15/17............................. 1,400 1,587,614 ----------- TOTAL NEW HAMPSHIRE.............................. 4,609,804 ----------- NEW JERSEY -- (1.5%) East Windsor Regional School District (GO) (SCH BD RES FD) 3.000%, 03/01/16............................. 625 651,562 Livingston Township (GO) 3.000%, 01/15/16............................. 1,335 1,395,182 3.000%, 01/15/17............................. 1,810 1,913,532 New Jersey State (GO) 5.000%, 06/01/14............................. 4,600 4,725,948 5.000%, 08/01/14............................. 4,000 4,141,680 5.000%, 06/01/18............................. 5,990 7,028,846 New Jersey State (GO) Series H 5.250%, 07/01/15............................. 3,500 3,784,060 New Jersey State (GO) Series M (AMBAC) 5.500%, 07/15/14............................. 4,000 4,147,040 ----------- TOTAL NEW JERSEY................................. 27,787,850 ----------- NEW YORK -- (6.5%) City of New York (GO) Series A 5.000%, 08/01/14............................. 7,865 8,144,758 City of New York (GO) Series A-1 5.000%, 08/01/14............................. 2,500 2,588,925 City of New York (GO) Series B 5.000%, 08/01/15............................. 10,000 10,807,200 City of New York (GO) Series C 5.000%, 08/01/15............................. 2,630 2,842,294 FACE AMOUNT VALUE+ ------ ------ (000) NEW YORK -- (Continued) City of New York (GO) Series E 4.000%, 08/01/14............................. $ 7,000 $ 7,197,330 City of New York (GO) Series H-2 3.000%, 06/01/16............................. 4,000 4,257,360 City of New York (GO) Series I 5.000%, 08/01/14............................. 4,000 4,142,280 4.000%, 08/01/15............................. 4,130 4,391,842 Long Beach City School District (GO) (ST AID WITHHLDG) 3.000%, 05/01/16............................. 3,740 3,889,600 New York State (GO) Series C 3.000%, 02/01/14............................. 4,655 4,686,654 3.000%, 02/01/15............................. 3,010 3,112,310 New York State Dormitory Authority (RB) Series A 5.000%, 02/15/15............................. 1,025 1,085,024 5.000%, 03/15/16............................. 20,000 22,144,800 New York State Dormitory Authority (RB) Series C 5.000%, 03/15/14............................. 7,500 7,627,950 New York State Urban Dev. Corp. (RB) 5.000%, 12/15/17............................. 5,765 6,719,338 New York State Urban Development Corp. (RB) 5.000%, 12/15/18............................. 250 297,915 New York State Urban Development Corp. (RB) Series A 5.000%, 03/15/17............................. 2,195 2,509,543 Suffolk County (GO) Series A 4.000%, 04/01/16............................. 1,035 1,109,634 3.000%, 05/15/16............................. 3,325 3,493,976 Suffolk County (GO) Series B 3.000%, 10/15/15............................. 4,290 4,481,077 3.000%, 10/15/16............................. 2,000 2,118,160 Suffolk County (GO) Series B (AGM) 5.250%, 05/01/16............................. 3,315 3,663,937 Suffolk County (GO) Series C 4.000%, 10/15/15............................. 5,890 6,265,900 ------------ TOTAL NEW YORK................................... 117,577,807 ------------ NORTH CAROLINA -- (3.8%) City of Charlotte (GO) Series B 5.000%, 06/01/16............................. 2,335 2,605,113 County of Onslow NC (GO) 4.000%, 12/01/17............................. 525 588,137 Mecklenburg County (GO) Series B 2.000%, 03/01/16............................. 5,000 5,188,250 63 DFA SHORT-TERM MUNICIPAL BOND PORTFOLIO CONTINUED FACE AMOUNT VALUE+ ------ ------ (000) NORTH CAROLINA -- (Continued) Mecklenburg County (GO) Series C 5.000%, 02/01/14............................. $ 5,680 $ 5,746,172 North Carolina State (GO) Series A 5.500%, 03/01/14............................. 3,000 3,051,870 5.000%, 03/01/17............................. 9,025 10,342,018 North Carolina State (GO) Series B 5.000%, 04/01/14............................. 4,550 4,639,635 5.000%, 04/01/16............................. 7,350 8,162,322 5.000%, 06/01/18............................. 7,000 8,272,390 North Carolina State (GO) Series E 5.000%, 05/01/14............................. 15,705 16,077,051 Sanford Enterprise (RB) Series A 5.000%, 06/01/15............................. 2,540 2,725,445 Wake County (GO) Series C 5.000%, 03/01/15............................. 1,400 1,487,920 ----------- TOTAL NORTH CAROLINA..................................... 68,886,323 ----------- OHIO -- (3.4%) City of Cincinnati School District (GO) (AGM) (currency) 5.000%, 12/01/31 (Pre-refunded @ $100, 12/1/13)............................. 11,730 11,770,938 City of Columbus (GO) Series 2 5.000%, 07/01/14............................. 4,605 4,750,656 City of Columbus (GO) Series D 5.000%, 12/15/13............................. 575 578,364 Greater Cleveland Regional Transit Authority (GO) Series B 5.000%, 12/01/16............................. 2,725 3,067,206 Mason City School District (GO) 5.000%, 12/01/15............................. 470 515,082 5.000%, 12/01/15............................. 1,530 1,672,091 Ohio State (GO) 5.000%, 05/01/14............................. 5,000 5,118,200 5.000%, 11/01/15............................. 2,425 2,647,785 Ohio State (GO) Series C 5.000%, 09/15/14............................. 3,105 3,233,702 5.000%, 08/01/15............................. 4,000 4,323,600 5.000%, 08/01/17............................. 2,475 2,855,135 Ohio State (GO) Series D 5.000%, 09/15/14............................. 3,800 3,957,510 Ohio State University (RB) Series A 5.000%, 12/01/14............................. 6,760 7,106,585 FACE AMOUNT VALUE+ ------ ------ (000) OHIO -- (Continued) Ohio State University (RB) Series A (ETM) 4.000%, 12/01/15............................. $ 55 $ 59,082 Ohio State University (RB) Series A (UP) 4.000%, 12/01/15............................. 945 1,015,138 Ohio State Water Development Authority (RB) Series A 5.000%, 06/01/16............................. 3,080 3,435,463 State of Ohio (RB) Series 1 3.000%, 12/15/14............................. 6,000 6,187,020 ----------- TOTAL OHIO....................................... 62,293,557 ----------- OKLAHOMA -- (2.1%) City of Tulsa (GO) 4.000%, 05/01/14............................. 1,830 1,864,331 Cleveland County Independent School District No. 29 (GO) 1.500%, 03/01/16............................. 4,415 4,513,719 1.500%, 03/01/17............................. 1,465 1,497,098 Oklahoma State (GO) 3.000%, 07/15/14............................. 18,640 19,001,989 Oklahoma State Turnpike Authority (RB) Series A 5.000%, 01/01/15............................. 1,320 1,391,504 Payne County Independent School District No. 16 Stillwater (GO) 1.500%, 06/01/17............................. 3,355 3,425,589 Tulsa County Independent School District No. 3 (GO) 2.000%, 04/01/15............................. 2,425 2,481,406 2.000%, 04/01/16............................. 4,300 4,451,919 ----------- TOTAL OKLAHOMA................................... 38,627,555 ----------- OREGON -- (1.1%) City of Portland (GO) Series A 4.000%, 06/01/15............................. 2,000 2,115,320 Jackson County School District No. 5 (GO) (NATL-RE FGIC SCH BD GTY) 5.000%, 06/15/15............................. 1,965 2,113,318 Multnomah County (GO) 5.000%, 10/01/14............................. 5,490 5,729,309 Portland Community College District (GO) 5.000%, 06/15/14............................. 7,410 7,628,521 Washington County School District No. 15 Forest Grove (GO) (AGM SCH BD GTY) 5.250%, 06/15/15............................. 1,555 1,669,713 ----------- TOTAL OREGON..................................... 19,256,181 ----------- 64 DFA SHORT-TERM MUNICIPAL BOND PORTFOLIO CONTINUED FACE AMOUNT VALUE+ ------ ------ (000) PENNSYLVANIA -- (3.4%) Commonwealth of Pennsylvania (GO) Second Series 5.500%, 06/01/14............................. $ 8,000 $ 8,244,720 Commonwealth of Pennsylvania (GO) Series 1 5.000%, 04/01/17............................. 8,000 9,158,480 Commonwealth of Pennsylvania (GO) Series A 5.000%, 02/15/14............................. 9,000 9,122,220 5.000%, 02/15/16............................. 7,420 8,185,966 5.000%, 05/01/16............................. 2,025 2,251,172 Conestoga Valley School District (GO) (ST AID WITHHLDG) 4.000%, 01/15/17............................. 2,680 2,909,167 Pennsylvania Economic Dev. Financing Authority (RB) Series A 5.000%, 07/01/17............................. 14,555 16,781,333 Tredyffrin Easttown School District (GO) (ST AID WITHHLDG) 5.000%, 02/15/15............................. 2,535 2,689,534 University of Pittsburgh of the Commonwealth System of Higher Education (RB) Series B (GO OF UNIV) 5.000%, 09/15/15............................. 1,850 2,009,803 ----------- TOTAL PENNSYLVANIA............................... 61,352,395 ----------- RHODE ISLAND -- (0.4%) Rhode Island State & Providence Plantations (GO) (AGM) 5.000%, 02/15/15............................. 2,130 2,258,418 Rhode Island State & Providence Plantations (GO) (AGM) (ETM) 5.000%, 02/15/15............................. 1,255 1,330,827 Rhode Island State & Providence Plantations (GO) Series A 4.000%, 08/01/17............................. 2,065 2,266,213 Rhode Island State & Providence Plantations (GO) Series E (NATL-RE) 5.000%, 11/01/15............................. 2,260 2,465,728 ----------- TOTAL RHODE ISLAND............................... 8,321,186 ----------- SOUTH CAROLINA -- (2.1%) Beaufort County School District (GO) Series A (SCSDE) 5.000%, 03/01/14............................. 5,505 5,591,153 FACE AMOUNT VALUE+ ------ ------ (000) SOUTH CAROLINA -- (Continued) Beaufort County School District (GO) Series B (SCSDE) 5.000%, 03/01/14............................. $2,795 $ 2,838,742 Beaufort County School District (GO) Series D (SCSDE) 5.000%, 03/01/17............................. 6,425 7,314,670 Clemson University (RB) 2.000%, 05/01/16............................. 1,355 1,399,403 Oconee County School District (GO) Series B (SCSDE) 4.000%, 03/01/14............................. 1,100 1,112,881 Richland County School District No. 2 (GO) Series C (SCSDE) 5.000%, 02/01/16............................. 6,330 6,969,330 South Carolina State (GO) Series A 4.000%, 06/01/15............................. 6,000 6,348,900 South Carolina State Public Service Authority (RB) Series A (NATL-RE FGIC) 5.500%, 01/01/15............................. 500 529,725 South Carolina State Public Service Authority (RB) Series E 5.000%, 01/01/15............................. 835 879,831 York County School District No. 3 (GO) Series B (SCSDE) 5.000%, 03/01/15............................. 4,770 5,068,888 ----------- TOTAL SOUTH CAROLINA............................. 38,053,523 ----------- SOUTH DAKOTA -- (0.1%) Sioux Falls School District No. 49-5 (GO) Series B 5.000%, 07/01/15............................. 1,500 1,614,780 ----------- TENNESSEE -- (1.7%) City of Kingsport (GO) Series B 3.000%, 04/01/17............................. 2,005 2,143,104 City of Memphis (GO) Series A 5.000%, 04/01/17............................. 1,230 1,402,311 Knox County (GO) 5.500%, 04/01/14............................. 6,300 6,432,930 Shelby County (GO) Series A 5.000%, 04/01/14............................. 6,680 6,811,262 Shelby County (GO) Series A (ETM) 5.000%, 04/01/14............................. 1,665 1,697,518 Sumner County (GO) 5.000%, 06/01/14............................. 8,500 8,733,665 Tennessee State (GO) Series A 5.000%, 05/01/14............................. 3,000 3,071,070 ----------- TOTAL TENNESSEE.................................. 30,291,860 ----------- 65 DFA SHORT-TERM MUNICIPAL BOND PORTFOLIO CONTINUED FACE AMOUNT VALUE+ ------ ------ (000) TEXAS -- (12.1%) Arlington Independent School District (GO) (PSF-GTD) 5.000%, 02/15/14.............................. $ 5,885 $ 5,964,742 Austin Independent School District (GO) (PSF-GTD) 5.000%, 08/01/14.............................. 6,895 7,140,807 Carrollton-Farmers Branch Independent School District (GO) (PSF-GTD) 5.000%, 02/15/16.............................. 6,570 7,249,798 City of Dallas (GO) 5.000%, 02/15/14.............................. 4,585 4,646,989 5.000%, 02/15/14.............................. 8,770 8,888,570 5.000%, 02/15/15.............................. 10 10,604 5.000%, 02/15/15.............................. 11,790 12,507,068 City of Dallas (GO) Series A 5.000%, 02/15/16.............................. 10 11,028 5.000%, 02/15/16.............................. 2,520 2,778,930 City of Dallas (GO) Series C 5.000%, 02/15/15.............................. 2,430 2,577,793 City of Dallas (GO) Series C (ETM) 5.000%, 02/15/15.............................. 10 10,598 City of El Paso (GO) 3.000%, 08/15/17.............................. 500 536,400 City of Frisco (GO) (NATL-RE FGIC) 5.250%, 02/15/16.............................. 1,175 1,300,396 City of Houston (GO) Series A 4.000%, 03/01/16.............................. 4,500 4,860,990 5.000%, 03/01/16.............................. 17,850 19,693,369 City of Houston (RN) 1.250%, 06/30/14.............................. 20,000 20,144,400 City of San Antonio Electric & Gas (RB) 5.375%, 02/01/15.............................. 5,975 6,355,070 City of San Antonio Electric & Gas (RB) Series A 5.250%, 02/01/14.............................. 90 91,078 5.250%, 02/01/14.............................. 13,480 13,643,108 5.000%, 02/01/15.............................. 3,025 3,203,384 5.000%, 02/01/16.............................. 2,875 3,166,726 County of El Paso (GO) (NATL-RE) 5.000%, 02/15/16.............................. 2,490 2,732,103 Dallas Waterworks & Sewer System (RB) (AMBAC) 5.000%, 10/01/14.............................. 9,000 9,391,500 Denton County (GO) Series A 5.000%, 07/15/15.............................. 3,960 4,274,305 Fort Bend Independent School District (GO) (PSF-GTD) 5.000%, 08/15/15.............................. 3,000 3,248,670 Houston Independent School District (GO) Series A-1 5.000%, 02/15/15.............................. 4,000 4,243,840 FACE AMOUNT VALUE+ ------ ------ (000) TEXAS -- (Continued) North Texas Municipal Water District (RB) 5.000%, 09/01/14............................. $ 1,155 $ 1,200,519 5.000%, 06/01/16............................. 2,130 2,367,687 Northwest Independent School District (GO) (PSF-GTD) 5.000%, 02/15/15............................. 1,000 1,060,960 Nueces County (GO) 2.000%, 02/15/15............................. 2,375 2,427,986 San Jacinto College District (GO) 5.000%, 02/15/17............................. 5,000 5,683,200 San Marcos Consolidated Independent School District (GO) (PSF-GTD) (currency) 5.250%, 08/01/20 (Pre-refunded @ $100, 8/1/14).............................. 3,195 3,315,036 Socorro Independent School District (GO) (PSF-GTD) 5.250%, 08/15/14............................. 2,270 2,359,597 Texas Public Finance Authority (RB) Series A 5.000%, 01/01/14............................. 5,000 5,038,600 5.000%, 07/01/15............................. 10,000 10,775,600 5.000%, 01/01/16............................. 3,345 3,662,006 Texas State (GO) 5.000%, 10/01/16............................. 5,000 5,648,200 Texas State Transportation Commission (RB) 5.000%, 04/01/14............................. 5,870 5,985,639 Texas Tech University (RB) Series 12 5.000%, 02/15/16............................. 2,095 2,305,715 Travis County (GO) 4.000%, 03/01/15............................. 5,365 5,627,456 University of Texas (RB) Series A 5.000%, 07/01/14............................. 5,250 5,416,057 University of Texas (RB) Series F 5.000%, 08/15/15............................. 2,405 2,604,350 Williamson County (GO) (NATL-RE) 5.000%, 02/15/14............................. 5,000 5,067,600 ------------ TOTAL TEXAS.............................................. 219,218,474 ------------ UTAH -- (1.3%) Alpine School District (GO) (SCH BD GTY) 3.000%, 03/15/16............................. 2,770 2,937,723 Salt Lake City Corp. (GO) 2.000%, 06/30/14............................. 20,000 20,227,800 ------------ TOTAL UTAH............................................... 23,165,523 ------------ 66 DFA SHORT-TERM MUNICIPAL BOND PORTFOLIO CONTINUED FACE AMOUNT VALUE+ ------ ------ (000) VIRGINIA -- (1.7%) City of Norfolk (GO) Series A 4.000%, 03/01/16............................. $ 2,000 $ 2,158,500 City of Richmond (GO) Series A (AGM) 5.000%, 07/15/15............................. 5,040 5,437,354 City of Richmond (GO) Series C (ST AID WITHHLDG) 5.000%, 07/15/15............................. 5,325 5,744,823 Fairfax County (GO) Series A (ST AID WITHHLDG) 5.000%, 04/01/14............................. 9,375 9,559,687 4.000%, 04/01/16............................. 3,065 3,328,100 Loudoun County (GO) Series B (ST AID WITHHLDG) 5.000%, 12/01/13............................. 5,285 5,306,087 ----------- TOTAL VIRGINIA................................... 31,534,551 ----------- WASHINGTON -- (6.7%) Central Puget Sound Regional Transit Authority (RB) Series P-1 5.000%, 02/01/18............................. 3,000 3,473,760 City of Seattle (GO) 5.000%, 05/01/14............................. 8,300 8,496,212 City of Seattle (GO) Series B 5.000%, 08/01/15............................. 7,385 7,982,447 City of Seattle Municipal Light & Power Revenue (RB) Series A 5.000%, 02/01/14............................. 4,760 4,815,121 City of Seattle Water System Revenue (RB) 5.000%, 09/01/19............................. 3,890 4,639,097 King County School District No. 1 (GO) (SCH BD GTY) 5.000%, 12/01/13............................. 15,000 15,059,850 King County School District No. 414 (GO) (NATL-RE SCH BD GTY) 5.000%, 12/01/13............................. 1,500 1,505,985 King County School District No. 414 Lake Washington (GO) (SCH BD GTY) 4.000%, 12/01/15............................. 2,430 2,605,640 King County Sewer Enterprise (RB) 4.000%, 01/01/15............................. 6,595 6,881,751 4.000%, 01/01/16............................. 6,510 7,019,798 King County Sewer Revenue (RB) Series B 5.000%, 01/01/14............................. 5,075 5,116,361 Snohomish County Public Utility District No. 1 (RB) 5.000%, 12/01/18............................. 2,390 2,813,675 FACE AMOUNT VALUE+ ------ ------ (000) WASHINGTON -- (Continued) Snohomish County Public Utility District No.1 (RB) 5.000%, 12/01/15............................. $ 5,000 $ 5,448,050 Washington State (GO) 5.000%, 07/01/17............................. 750 865,598 Washington State (GO) (AGM) 5.000%, 07/01/14............................. 5,145 5,307,376 Washington State (GO) Series 2010C 5.000%, 01/01/15............................. 6,100 6,437,025 Washington State (GO) Series A 5.000%, 01/01/16............................. 2,000 2,198,620 5.000%, 08/01/18............................. 2,735 3,237,283 Washington State (GO) Series C 5.000%, 02/01/14............................. 6,895 6,975,189 Washington State (GO) Series D 5.000%, 01/01/14............................. 3,330 3,355,841 Washington State (GO) Series R-2010A 5.000%, 01/01/15............................. 10,960 11,565,540 5.000%, 01/01/17............................. 1,215 1,383,496 Washington State (GO) Series R-2011C 4.000%, 07/01/15............................. 4,000 4,243,520 -------------- TOTAL WASHINGTON................................. 121,427,235 -------------- WISCONSIN -- (3.2%) City of Milwaukee Series R1 1.750%, 12/05/13............................. 10,000 10,016,200 State of Wisconsin (GO) Series 1 5.000%, 05/01/19............................. 2,000 2,374,460 Wisconsin State (GO) Series 1 (AMBAC) 5.000%, 05/01/15............................. 18,510 19,801,443 5.000%, 05/01/16............................. 14,075 15,628,599 Wisconsin State (GO) Series A 4.000%, 05/01/16............................. 5,090 5,526,111 5.000%, 05/01/16............................. 4,780 5,307,616 -------------- TOTAL WISCONSIN.................................. 58,654,429 -------------- TOTAL MUNICIPAL BONDS............................ 1,732,896,481 -------------- SHARES ------ TEMPORARY CASH INVESTMENTS -- (4.6%) JPMorgan Tax Free Money Market Fund.......... 83,933,841 83,933,841 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $1,802,150,776).......................... $1,816,830,322 ============== 67 DFA SHORT-TERM MUNICIPAL BOND PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ------------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ----------- -------------- ------- -------------- Municipal Bonds............ -- $1,732,896,481 -- $1,732,896,481 Temporary Cash Investments. $83,933,841 -- -- 83,933,841 ----------- -------------- -- -------------- TOTAL...................... $83,933,841 $1,732,896,481 -- $1,816,830,322 =========== ============== == ============== See accompanying Notes to Financial Statements. 68 DFA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 FACE AMOUNT VALUE+ ------ ------ (000) MUNICIPAL BONDS -- (96.9%) ALASKA -- (0.2%) Borough of North Slope (GO) Series A 4.000%, 06/30/18............................. $ 400 $ 449,180 ---------- ARIZONA -- (0.5%) City of Phoenix (GO) Series A 5.000%, 07/01/15............................. 400 430,816 City of Scottsdale (GO) 5.000%, 07/01/15............................. 500 538,345 Pima County (GO) 3.000%, 07/01/16............................. 450 476,325 ---------- TOTAL ARIZONA.................................... 1,445,486 ---------- ARKANSAS -- (1.2%) Arkansas State (GO) 5.000%, 04/01/18............................. 2,500 2,937,000 Springdale School District No. 50 (GO) Series A (ST AID WITHHLDG) 4.000%, 06/01/16............................. 400 434,124 ---------- TOTAL ARKANSAS................................... 3,371,124 ---------- CALIFORNIA -- (0.1%) Los Angeles Unified School District (GO) Series KRY 5.000%, 07/01/15............................. 250 269,260 ---------- COLORADO -- (2.2%) Adams & Arapahoe Joint School District 28J (GO) (ST AID WITHHLDG) 5.000%, 12/01/21............................. 425 505,988 Arapahoe County School District No. 5 (GO) (ST AID WITHHLDG) 3.000%, 12/15/16............................. 750 802,515 Boulder County (RB) 5.000%, 07/15/18............................. 540 631,497 City & County of Denver (GO) Series A 5.000%, 08/01/19............................. 2,085 2,491,137 Denver City & County School District No. 1 (GO) Series C (ST AID WITHHLDG) 3.000%, 12/01/23............................. 1,540 1,553,352 ---------- TOTAL COLORADO................................... 5,984,489 ---------- CONNECTICUT -- (2.7%) City of Middletown (GO) 4.000%, 04/01/22............................. 1,350 1,495,085 Connecticut State (GO) Series E 5.000%, 08/15/19............................. 2,775 3,286,904 FACE AMOUNT VALUE+ ------ ------ (000) CONNECTICUT -- (Continued) Connecticut State (ST) Revenue Series A (AMBAC) 4.000%, 08/01/16............................. $ 300 $ 328,182 Town of Trumbull (GO) Series A 3.000%, 09/01/15............................. 1,630 1,708,696 3.000%, 09/01/16............................. 450 478,481 ---------- TOTAL CONNECTICUT................................ 7,297,348 ---------- DELAWARE -- (0.9%) Delaware State (GO) Series A 5.000%, 08/01/23............................. 2,000 2,443,300 ---------- FLORIDA -- (2.2%) City of Jacksonville (RB) 5.000%, 10/01/18............................. 315 369,722 City of Tallahassee Energy System (RB) 5.000%, 10/01/20............................. 250 288,895 Florida State Board of Education (GO) Series A 5.000%, 06/01/17............................. 150 171,970 5.000%, 06/01/19............................. 610 721,923 Florida State Board of Education (GO) Series B 5.000%, 06/01/17............................. 300 343,941 5.000%, 06/01/20............................. 800 951,448 Florida State Board of Education (GO) Series D 5.000%, 06/01/22............................. 1,000 1,191,810 Pasco County Water & Sewer (RB) Series A 4.000%, 10/01/17............................. 320 356,029 Tampa Bay Water Supply (RB) 5.000%, 10/01/19............................. 450 536,445 Tampa Bay Water Supply (RB) Series A 5.000%, 10/01/16............................. 1,000 1,123,460 ---------- TOTAL FLORIDA.................................... 6,055,643 ---------- GEORGIA -- (1.8%) DeKalb County Water & Sewerage Revenue (RB) Series B 5.250%, 10/01/24............................. 2,830 3,351,852 Georgia State Road & Tollway Authority (RB) Series A 5.000%, 06/01/16............................. 1,200 1,332,276 Gordon County School District (GO) (ST AID WITHHLDG) 3.000%, 09/01/17............................. 250 267,730 ---------- TOTAL GEORGIA.................................... 4,951,858 ---------- 69 DFA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO CONTINUED FACE AMOUNT VALUE+ ------ ------ (000) HAWAII -- (3.1%) City & County of Honolulu (GO) Series B 5.000%, 08/01/20.............................. $1,470 $1,747,712 City & County of Honolulu (GO) Series B (AGM) 5.250%, 07/01/17.............................. 545 630,483 City & County of Honolulu (GO) Series C 2.000%, 11/01/16.............................. 1,230 1,278,327 Hawaii State (GO) Series DO 5.000%, 08/01/16.............................. 100 112,196 Hawaii State (GO) Series EA 5.000%, 12/01/21.............................. 850 1,018,181 Hawaii State (GO) Series EF 5.000%, 11/01/22.............................. 3,070 3,689,925 ---------- TOTAL HAWAII....................................... 8,476,824 ---------- ILLINOIS -- (0.3%) Chicago Park District (GO) Series 2008E 5.000%, 11/15/18.............................. 250 287,382 University of Illinois (RB) Series A 5.000%, 04/01/20.............................. 500 580,295 ---------- TOTAL ILLINOIS..................................... 867,677 ---------- IOWA -- (0.3%) City of Ankeny (GO) Series D 4.000%, 06/01/18.............................. 700 780,003 ---------- KANSAS -- (2.2%) City of Topeka (GO) Series A 4.000%, 08/15/15.............................. 450 478,917 Johnson County (GO) Series B 3.000%, 09/01/22.............................. 2,260 2,347,101 Johnson County Unified School District No. 232 (GO) Series A 5.000%, 09/01/17.............................. 400 457,744 Sedgwick County (GO) Series B 3.000%, 08/01/17.............................. 500 538,900 Sedgwick County Unified School District No. 260 (GO) 5.000%, 10/01/21.............................. 1,325 1,569,608 Wyandotte County Unified Government (GO) Series A 3.000%, 08/01/18.............................. 580 623,227 ---------- TOTAL KANSAS....................................... 6,015,497 ---------- LOUISIANA -- (4.1%) Bossier Parish School Board (GO) 4.000%, 03/01/17.............................. 1,020 1,121,143 Lafayette Louisiana Public Improvement Sales (RB) Series ST-A 4.000%, 03/01/17.............................. 1,330 1,459,582 FACE AMOUNT VALUE+ ------ ------ (000) LOUISIANA -- (Continued) Louisiana State (GO) Series C 5.000%, 07/15/22............................. $6,445 $ 7,747,083 Saint Tammany Parish Wide School District No.12 (GO) (ASSURED GTY) 5.000%, 03/01/16............................. 575 631,707 ----------- TOTAL LOUISIANA.................................. 10,959,515 ----------- MARYLAND -- (4.0%) City of Baltimore (GO) Series B 5.000%, 10/15/22............................. 4,860 5,776,887 Maryland State (GO) Series A 5.000%, 03/01/16............................. 1,000 1,107,200 Prince George's County (GO) Series B 4.000%, 03/01/22............................. 2,480 2,811,675 Town of Ocean City (GO) 3.000%, 10/01/18............................. 825 887,362 University System of Maryland (RB) Series D 3.000%, 04/01/15............................. 135 140,187 ----------- TOTAL MARYLAND................................... 10,723,311 ----------- MASSACHUSETTS -- (8.0%) City of Boston (GO) Series B 4.000%, 01/01/23............................. 1,795 2,010,957 City of Woburn (GO) 4.000%, 09/01/22............................. 350 388,689 Commonwealth of Massachusetts (GO) Series C (AMBAC) 5.500%, 12/01/23............................. 3,500 4,380,180 Massachusetts Bay Transportation Authority (RB) Series B 5.500%, 07/01/24............................. 3,020 3,779,288 Massachusetts Water Resources Authority (RB) Series A 5.000%, 08/01/22............................. 3,000 3,595,800 Massachusetts Water Resources Authority (RB) Series J (AGM GO OF AUTH) 5.250%, 08/01/18............................. 2,000 2,380,160 Town of Auburn (GO) 2.000%, 03/15/19............................. 750 776,310 Town of Lynnfield (GO) 4.000%, 07/01/16............................. 1,290 1,405,726 Town of Nantucket (GO) 3.000%, 10/01/22............................. 1,115 1,167,427 Town of Reading (GO) 5.000%, 02/01/18............................. 1,065 1,238,946 Town of Westwood (GO) 3.000%, 06/01/16............................. 600 637,812 ----------- TOTAL MASSACHUSETTS.............................. 21,761,295 ----------- 70 DFA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO CONTINUED FACE AMOUNT VALUE+ ------ ------ (000) MICHIGAN -- (1.6%) Kentwood Public Schools (GO) 4.000%, 05/01/22............................. $ 500 $ 544,660 Michigan Finance Authority (RB) 5.000%, 07/01/16............................. 2,500 2,787,225 University of Michigan (RB) Series A 4.000%, 04/01/23............................. 1,000 1,113,480 ---------- TOTAL MICHIGAN................................... 4,445,365 ---------- MINNESOTA -- (2.7%) Lakeville Minnesota Independent School District No. 194 (GO) Series D 5.000%, 02/01/22............................. 4,000 4,740,280 Rochester Independent School District No. 535 (GO) Series A (SD CRED PROG) 3.000%, 02/01/22............................. 1,240 1,303,835 Stillwater Independent School District No. 834 (GO) Series A (SD CRED PROG) 3.000%, 02/01/16............................. 1,200 1,261,476 ---------- TOTAL MINNESOTA.................................. 7,305,591 ---------- MISSISSIPPI -- (1.2%) Mississippi State (GO) Series F 5.000%, 11/01/21............................. 2,750 3,280,200 ---------- MISSOURI -- (0.6%) City of Kansas (GO) Series A 4.000%, 02/01/22............................. 1,150 1,276,787 City of Liberty (GO) 4.000%, 03/01/16............................. 385 414,861 ---------- TOTAL MISSOURI................................... 1,691,648 ---------- NEBRASKA -- (1.2%) Douglas County School District No. 17 (GO) 4.000%, 06/15/22............................. 3,000 3,341,700 ---------- NEVADA -- (1.2%) Clark County (RB) (AMBAC) 5.000%, 07/01/16............................. 400 442,156 Clark County School District (GO) Series A 5.000%, 06/15/19............................. 1,500 1,746,345 Clark County School District (GO) Series A (NATL-RE FGIC) 4.500%, 06/15/17............................. 400 447,564 Nevada State (GO) Series D 5.000%, 06/01/17............................. 425 485,150 ---------- TOTAL NEVADA..................................... 3,121,215 ---------- FACE AMOUNT VALUE+ ------ ------ (000) NEW HAMPSHIRE -- (0.9%) City of Dover (GO) 3.000%, 06/15/19............................. $ 600 $ 634,632 City of Nashua (GO) 5.000%, 03/15/17............................. 330 374,223 City of Portsmouth (GO) 4.000%, 09/15/16............................. 1,395 1,526,005 ---------- TOTAL NEW HAMPSHIRE.............................. 2,534,860 ---------- NEW JERSEY -- (2.6%) Essex County (GO) Series A 5.000%, 08/01/20............................. 1,000 1,168,990 New Milford School District (GO) (SCH BD RES FD) 4.000%, 08/15/16............................. 440 473,427 Princeton Regional School District (GO) (ST AID WITHHLDG) 1.750%, 02/01/22............................. 1,095 1,008,112 South Orange & Maplewood School District (GO) (SCH BD RES FD) 3.000%, 03/01/22............................. 350 355,939 Township of Livingston (GO) 3.000%, 01/15/21............................. 350 361,683 Township of North Brunswick (GO) 2.000%, 08/01/18............................. 1,075 1,095,522 Union County (GO) Series B 3.000%, 03/01/22............................. 2,360 2,453,527 ---------- TOTAL NEW JERSEY................................. 6,917,200 ---------- NEW MEXICO -- (0.9%) Farmington Municipal School District No. 5 (GO) (ST AID WITHHLDG) 4.000%, 09/01/20............................. 945 1,052,824 Las Cruces School District No. 2 (GO) Series A (ST AID WITHHLDG) 4.000%, 08/01/19............................. 1,000 1,116,530 4.000%, 08/01/20............................. 125 139,100 ---------- TOTAL NEW MEXICO................................. 2,308,454 ---------- NEW YORK -- (2.5%) Albany County (GO) Series B 4.000%, 11/01/18............................. 2,470 2,777,144 City of New York (GO) Series B 5.000%, 08/01/19............................. 600 707,094 5.000%, 08/01/22............................. 600 706,764 City of New York (GO) Series C 5.250%, 08/01/18............................. 430 510,638 City of New York (GO) Series F 3.000%, 08/01/15............................. 150 156,912 Malverne Union Free School District (GO) (ST AID WITHHLDG) 2.125%, 08/01/17............................. 605 624,499 71 DFA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO CONTINUED FACE AMOUNT VALUE+ ------ ------ (000) NEW YORK -- (Continued) New York State Dormitory Authority (RB) Series C 5.000%, 03/15/19.............................. $ 525 $ 620,792 New York State Urban Development Corp. (RB) 5.000%, 12/15/18.............................. 510 607,747 ---------- TOTAL NEW YORK..................................... 6,711,590 ---------- NORTH CAROLINA -- (3.3%) City of High Point (GO) 5.000%, 03/01/18.............................. 700 817,495 Lincoln County (GO) Series A 2.000%, 06/01/17.............................. 500 513,235 North Carolina State (GO) Series D 4.000%, 06/01/23.............................. 6,200 6,959,190 Onslow County (GO) 5.000%, 04/01/17.............................. 600 684,270 ---------- TOTAL NORTH CAROLINA............................... 8,974,190 ---------- NORTH DAKOTA -- (0.1%) North Dakota State Board of Higher Education (RB) Series A 2.000%, 04/01/16.............................. 300 306,246 ---------- OHIO -- (2.7%) City of Columbus (GO) Series 1 5.000%, 07/01/22.............................. 2,500 3,005,225 Oakwood City School District (GO) 2.000%, 12/01/17.............................. 280 288,198 Ohio State (GO) Series A 5.000%, 09/01/19.............................. 550 654,561 3.000%, 02/01/22.............................. 500 519,255 5.000%, 09/15/22.............................. 500 600,550 Ohio State (GO) Series B 5.000%, 08/01/17.............................. 400 461,436 Ohio State (GO) Series C 5.000%, 09/15/21.............................. 1,000 1,196,310 Ohio State Major New Street Infrastructure Project (RB) Series 2008-1 5.500%, 06/15/15.............................. 500 540,400 ---------- TOTAL OHIO......................................... 7,265,935 ---------- OKLAHOMA -- (1.2%) City of Tulsa (GO) 5.000%, 12/01/17.............................. 400 463,860 Cleveland County Independent School District No. 29 (GO) 1.500%, 03/01/16.............................. 1,250 1,277,950 Tulsa County Independent School District No. 1 (GO) 2.000%, 09/01/15.............................. 1,090 1,121,425 FACE AMOUNT VALUE+ ------ ------ (000) OKLAHOMA -- (Continued) Tulsa County Independent School District No. 3 (GO) 2.000%, 04/01/16............................. $ 425 $ 440,015 ---------- TOTAL OKLAHOMA................................... 3,303,250 ---------- OREGON -- (2.2%) City of Portland (GO) 4.000%, 06/01/20............................. 935 1,038,056 Deschutes County (GO) 3.000%, 12/01/15............................. 225 235,438 Deschutes County Administrative School District No. 1 (GO) (NATL-RE FGIC) 5.000%, 06/15/16............................. 200 222,102 Lane County School District No. 4J Eugene (GO) Series A (SCH BD GTY) 5.000%, 06/15/23............................. 3,355 4,019,994 Washington County School District No. 1 (GO) (NATL-RE FGIC) 5.250%, 06/15/17............................. 400 461,220 ---------- TOTAL OREGON..................................... 5,976,810 ---------- PENNSYLVANIA -- (0.8%) Marple Newtown School District (GO) (AGM ST AID WITHHLDG) 4.000%, 06/01/16............................. 375 404,989 Monroe County (GO) 4.000%, 12/15/18............................. 400 446,096 West View Municipal Authority (RB) 4.000%, 11/15/20............................. 1,100 1,218,448 ---------- TOTAL PENNSYLVANIA............................... 2,069,533 ---------- RHODE ISLAND -- (0.7%) Rhode Island State & Providence Plantations (GO) Series A 5.000%, 08/01/22............................. 1,605 1,874,255 ---------- SOUTH CAROLINA -- (2.6%) Beaufort County (GO) Series C (ST AID WITHHLDG) 5.000%, 03/01/22............................. 3,485 4,135,824 Berkeley County School District (GO) Series B (SCSDE) 5.000%, 03/01/22............................. 2,120 2,526,446 Clemson University (RB) 3.000%, 05/01/21............................. 350 367,997 ---------- TOTAL SOUTH CAROLINA............................. 7,030,267 ---------- 72 DFA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO CONTINUED FACE AMOUNT VALUE+ ------ ------ (000) TENNESSEE -- (4.4%) City of Johnson City (GO) 2.000%, 06/01/18.............................. $1,000 $ 1,040,020 3.000%, 06/01/19.............................. 875 948,325 City of Pigeon Forge (GO) 4.000%, 06/01/21.............................. 670 753,194 Hamilton County (GO) 3.000%, 03/01/22.............................. 4,550 4,761,757 Putnam County (GO) 4.000%, 04/01/23.............................. 750 827,220 Williamson County (GO) 4.000%, 03/01/18.............................. 1,445 1,629,873 Williamson County (GO) Series A 4.000%, 05/01/22.............................. 300 343,857 Wilson County (GO) (NATL-RE) 5.000%, 04/01/15.............................. 450 479,444 Wilson County (GO) Series B 4.000%, 04/01/20.............................. 1,040 1,155,856 ----------- TOTAL TENNESSEE.................................... 11,939,546 ----------- TEXAS -- (11.3%) Austin Independent School District (GO) (PSF-GTD) 5.000%, 08/01/20.............................. 350 418,317 City of Copperas Cove (GO) 4.000%, 08/15/15.............................. 750 798,052 City of Denton (GO) 4.000%, 02/15/22.............................. 2,510 2,774,052 City of Fort Worth Water & Sewer System (RB) 5.000%, 02/15/19.............................. 400 469,444 City of Houston (GO) Series A 5.000%, 03/01/21.............................. 2,600 3,089,788 City of Richardson (GO) 4.250%, 02/15/18.............................. 400 453,400 City of San Antonio Electric & Gas (RB) Series D 5.000%, 02/01/19.............................. 400 470,716 City of Southlake (GO) 3.000%, 02/15/23.............................. 1,510 1,558,214 Galveston County (GO) 5.000%, 02/01/22.............................. 1,000 1,177,730 Grayson County (GO) 5.000%, 01/01/21.............................. 1,990 2,336,837 Harris County (GO) Series A 4.000%, 10/01/18.............................. 430 487,186 Harris County Metropolitan Transit Authority (RB) Series B 4.000%, 11/01/18.............................. 400 449,124 Hays Consolidated Independent School District (GO) (PSF-GTD) 5.000%, 08/15/23.............................. 855 1,024,598 Hidalgo County Drain District No. 1 (GO) 5.000%, 09/01/22.............................. 3,610 4,273,337 FACE AMOUNT VALUE+ ------ ------ (000) TEXAS -- (Continued) Houston Community College System (GO) 5.000%, 02/15/17............................. $1,000 $ 1,133,860 La Porte Independent School District (GO) 5.000%, 02/15/21............................. 1,700 1,995,953 Mansfield Independent School District (GO) 5.000%, 02/15/20............................. 1,000 1,169,700 Mansfield Independent School District (GO) Series A (PSF-GTD) 5.000%, 02/15/22............................. 895 1,075,423 Pflugerville Independent School District (GO) (PSF-GTD) 5.000%, 08/15/16............................. 350 392,256 Texas A&M University (RB) Series B 5.000%, 05/15/21............................. 4,000 4,782,240 Texas Transportation Commission (RB) 5.250%, 04/01/26............................. 300 367,737 ----------- TOTAL TEXAS...................................... 30,697,964 ----------- UTAH -- (1.0%) Davis County (GO) 4.000%, 02/01/18............................. 350 387,775 North Davis County Sewer District (RB) 3.000%, 03/01/21............................. 2,135 2,221,959 ----------- TOTAL UTAH....................................... 2,609,734 ----------- VIRGINIA -- (3.3%) City of Newport News (GO) Series A 2.000%, 07/15/18............................. 515 530,651 Commonwealth of Virginia (GO) Series B 4.000%, 06/01/23............................. 2,500 2,851,725 Loudoun County (GO) Series A (ST AID WITHHLDG) 5.000%, 12/01/22............................. 4,000 4,872,400 Virginia State Public School Authority (RB) Series D (ST AID WITHHLDG) 5.250%, 08/01/18............................. 500 592,245 ----------- TOTAL VIRGINIA................................... 8,847,021 ----------- WASHINGTON -- (12.4%) Benton County School District No. 400 Richland (GO) 5.000%, 12/01/22............................. 4,705 5,603,890 73 DFA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO CONTINUED FACE AMOUNT VALUE+ ------ ------ (000) WASHINGTON -- (Continued) City of Seattle Municipal Light & Power (RB) Series A 5.000%, 06/01/22............................. $ 310 $ 368,934 City of Seattle Municipal Light & Power (RB) Series B 5.000%, 02/01/16............................. 425 467,823 City of Seattle Water System Revenue (RB) 5.000%, 09/01/22............................. 6,000 7,233,480 Clark County School District No.119 Battleground (GO) (SCH BD GTY) 4.000%, 12/01/22............................. 2,320 2,567,126 King County (GO) 5.000%, 01/01/21............................. 425 502,142 King County School District No. 210 (GO) (SCH BD GTY) 2.000%, 12/01/18............................. 1,200 1,242,900 King County School District No. 412 (GO) (SCH BD GTY) 4.000%, 12/01/21............................. 1,000 1,109,790 North Thurston Public Schools (GO) (SCH BD GTY) 5.000%, 12/01/20............................. 2,880 3,417,869 Snohomish County Public Utility District No. 1 (RB) 5.000%, 12/01/19............................. 1,655 1,953,099 Snohomish County School District No. 15 Edmonds (GO) (SCH BD GTY) 5.000%, 12/01/20............................. 1,225 1,458,215 Spokane County (GO) 5.000%, 12/01/22............................. 1,025 1,211,745 Spokane County Wastewater System (RB) Series A 5.000%, 12/01/15............................. 300 327,663 Thurston County School District No. 111 (GO) (SCH BD GTY) 5.000%, 12/01/21............................. 425 505,988 FACE AMOUNT VALUE+ ------ ------ (000) WASHINGTON -- (Continued) Washington State (GO) 5.000%, 07/01/17.............................. $ 300 $ 346,239 5.000%, 07/01/23.............................. 1,800 2,151,450 Washington State (GO) Series B-1 5.000%, 08/01/21.............................. 1,300 1,556,659 Washington State (GO) Series D 5.000%, 02/01/19.............................. 400 474,044 Washington State (GO) Series R-2012C 4.000%, 07/01/21.............................. 850 954,049 ------------ TOTAL WASHINGTON................................... 33,453,105 ------------ WISCONSIN -- (1.7%) Milwaukee County (GO) Series A 5.000%, 10/01/16.............................. 520 583,076 Milwaukee County Metropolitan Sewer District (GO) Series A 5.500%, 10/01/15.............................. 350 384,272 Sun Prairie Area School District (GO) 4.000%, 03/01/20.............................. 570 621,790 Swallow School District (GO) 2.000%, 04/01/16.............................. 390 400,281 Wisconsin State (GO) Series 2 5.000%, 11/01/20.............................. 2,100 2,524,179 ------------ TOTAL WISCONSIN.................................... 4,513,598 ------------ TOTAL MUNICIPAL BONDS.............................. 262,371,087 ------------ SHARES ------ TEMPORARY CASH INVESTMENTS -- (3.1%) JPMorgan Tax Free Money Market Fund........... 8,306,555 8,306,555 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $272,098,571).............................. $270,677,642 ============ Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) -------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ---------- ------------ ------- ------------ Municipal Bonds............ -- $262,371,087 -- $262,371,087 Temporary Cash Investments. $8,306,555 -- -- 8,306,555 ---------- ------------ -- ------------ TOTAL...................... $8,306,555 $262,371,087 -- $270,677,642 ========== ============ == ============ See accompanying Notes to Financial Statements. 74 DFA CALIFORNIA SHORT-TERM MUNICIPAL BOND PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 FACE AMOUNT VALUE+ ------ ------ (000) MUNICIPAL BONDS -- (93.4%) CALIFORNIA -- (93.4%) Anaheim Public Financing Authority (RB) 4.000%, 08/01/14............................. $ 550 $ 564,922 Anaheim Union High School District (GO) (AGM) 5.000%, 08/01/14............................. 800 828,336 Atascadero Unified School District (GO) Series A (AGM) 3.000%, 08/01/15............................. 315 326,718 Bay Area Toll Authority (RB) 4.000%, 04/01/18............................. 1,690 1,918,133 Bay Area Toll Authority (RB) Series F 3.900%, 04/01/14............................. 900 913,527 5.000%, 04/01/14............................. 1,000 1,019,490 5.000%, 04/01/15............................. 795 847,367 Berkeley Unified School District (GO) 3.000%, 08/01/15............................. 1,000 1,045,360 California Educational Facilities Authority (RB) 5.000%, 10/01/16............................. 700 777,210 California Educational Facilities Authority (RB) Series A 4.000%, 11/01/19............................. 850 942,965 California Educational Facilities Authority (RB) Series P 5.250%, 12/01/13............................. 1,125 1,129,162 California Educational Facilities Authority (RB) Series T-4 5.000%, 03/15/14............................. 3,890 3,958,347 California State (GO) 4.200%, 11/01/13............................. 1,825 1,825,000 5.000%, 03/01/14............................. 2,925 2,970,952 5.000%, 03/01/14............................. 2,850 2,894,773 5.000%, 03/01/14............................. 800 812,568 5.000%, 04/01/14............................. 2,250 2,294,415 5.000%, 04/01/14............................. 555 565,956 5.000%, 05/01/14............................. 5,075 5,195,480 4.500%, 06/01/14............................. 750 768,653 5.000%, 06/01/14............................. 3,465 3,561,084 5.000%, 08/01/14............................. 1,480 1,532,866 4.000%, 09/01/14............................. 875 902,598 4.000%, 10/01/14............................. 1,600 1,655,424 3.000%, 11/01/14............................. 665 683,520 5.000%, 11/01/14............................. 9,000 9,428,400 6.000%, 02/01/15............................. 950 1,018,020 3.000%, 03/01/15............................. 500 518,275 5.000%, 03/01/15............................. 500 531,465 5.000%, 03/01/15............................. 3,900 4,145,427 4.000%, 04/01/15............................. 700 736,911 5.000%, 04/01/15............................. 1,000 1,066,750 FACE AMOUNT VALUE+ ------ ------ (000) CALIFORNIA -- (Continued) 5.000%, 09/01/15............................. $ 1,000 $ 1,084,960 5.000%, 10/01/15............................. 1,000 1,088,630 5.000%, 10/01/15............................. 500 544,315 3.000%, 11/01/15............................. 500 526,340 5.000%, 12/01/15............................. 700 766,381 5.000%, 02/01/16............................. 1,275 1,405,891 5.000%, 03/01/16............................. 1,245 1,376,933 3.000%, 09/01/16............................. 1,500 1,603,635 5.000%, 09/01/16............................. 2,350 2,643,844 4.000%, 10/01/16............................. 1,175 1,291,689 5.000%, 10/01/16............................. 2,795 3,153,012 5.000%, 10/01/16............................. 2,090 2,357,708 5.000%, 11/01/16............................. 3,410 3,857,051 4.000%, 09/01/17............................. 425 475,239 5.000%, 09/01/17............................. 3,600 4,160,664 5.000%, 11/01/17............................. 800 928,912 5.500%, 04/01/18............................. 6,915 8,210,041 5.000%, 09/01/18............................. 250 293,865 5.500%, 04/01/19............................. 1,600 1,920,032 5.000%, 10/01/19............................. 4,415 5,219,369 5.000%, 09/01/21............................. 800 943,136 California State (GO) (AMBAC) 5.000%, 02/01/14............................. 770 778,994 6.000%, 04/01/16............................. 1,265 1,433,435 6.000%, 02/01/17............................. 1,000 1,168,720 California State (GO) (NATL-RE FGIC) 5.000%, 03/01/14............................. 1,565 1,589,586 California State (GO) (NATL-RE) 4.000%, 09/01/14............................. 1,000 1,031,540 4.125%, 06/01/15............................. 200 212,056 5.000%, 06/01/15............................. 310 332,937 4.000%, 09/01/15............................. 500 533,405 California State (GO) Series 2 4.000%, 09/01/15............................. 750 800,108 California State Department of Transportation (RB) Series A (NATL-RE FGIC) 5.000%, 02/01/14............................. 13,835 13,994,518 5.000%, 02/01/15............................. 3,360 3,556,426 California State Department of Water Resources (RB) 5.500%, 12/01/13............................. 1,075 1,079,719 California State Department of Water Resources (RB) (NATL-RE) 5.000%, 12/01/14............................. 1,500 1,576,905 California State Department of Water Resources (RB) Series AE 5.000%, 12/01/14............................. 575 604,480 75 DFA CALIFORNIA SHORT-TERM MUNICIPAL BOND PORTFOLIO CONTINUED FACE AMOUNT VALUE+ ------ ------ (000) CALIFORNIA -- (Continued) California State Department of Water Resources (RB) Series L 5.000%, 05/01/14............................. $1,200 $1,228,308 4.000%, 05/01/15............................. 2,790 2,945,821 5.000%, 05/01/15............................. 4,050 4,336,335 5.000%, 05/01/16............................. 385 429,121 5.000%, 05/01/17............................. 2,510 2,887,931 California State Department of Water Resources (RB) Series M 5.000%, 05/01/14............................. 750 767,693 4.000%, 05/01/15............................. 3,400 3,589,890 4.000%, 05/01/16............................. 2,250 2,447,460 5.000%, 05/01/18............................. 500 588,540 4.000%, 05/01/19............................. 425 482,702 California State Economic Recovery (GO) Series A 5.250%, 07/01/14............................. 95 98,147 5.250%, 07/01/14............................. 2,445 2,526,174 California State Economic Recovery (GO) Series A (NATL-RE FGIC) 5.250%, 07/01/14............................. 4,610 4,763,052 California State Public Works Board (RB) (currency) 5.500%, 06/01/23 (Pre-refunded @ $100, 6/1/14)................................ 1,550 1,597,042 California State Public Works Board of Regents University California (RB) Series A 5.000%, 03/01/14............................. 860 873,399 California State Public Works Board of Regents University California (RB) Series B (NATL-RE FGIC) 5.000%, 06/01/17............................. 1,275 1,468,073 California State University (RB) Series A 5.000%, 11/01/15............................. 5,850 6,384,982 5.000%, 11/01/16............................. 500 564,755 5.000%, 11/01/19............................. 1,550 1,847,863 5.000%, 11/01/19............................. 1,000 1,190,290 Chino Valley Unified School District (GO) Series A 4.000%, 08/01/17............................. 500 555,100 City & County of San Francisco (GO) 4.000%, 06/15/14............................. 2,245 2,297,488 4.000%, 06/15/15............................. 2,000 2,118,840 5.000%, 06/15/16............................. 705 788,761 5.000%, 06/15/16............................. 515 576,187 City & County of San Francisco (GO) Series 2008-R1 5.000%, 06/15/14............................. 500 514,745 FACE AMOUNT VALUE+ ------ ------ (000) CALIFORNIA -- (Continued) City & County of San Francisco (GO) Series A 5.000%, 06/15/14............................. $6,950 $7,154,955 5.000%, 06/15/15............................. 750 806,610 5.000%, 06/15/15............................. 2,490 2,677,945 City & County of San Francisco (GO) Series R1 5.000%, 06/15/21............................. 250 301,528 City & County of San Francisco Public Utilities Commission (RB) Series C 5.000%, 11/01/13............................. 525 525,000 City & County of San Francisco Road Repaving & Street Safety Services (GO) 4.000%, 06/15/14............................. 1,100 1,125,718 City of Bakersfield School District (GO) Series A (AGM) 4.000%, 11/01/14............................. 400 411,660 City of Folsom (GO) 4.000%, 08/01/14............................. 1,285 1,315,416 City of Long Beach Harbor Revenue (RB) Series B 5.000%, 05/15/19............................. 815 962,931 City of Los Angeles (GO) Series A 2.500%, 09/01/14............................. 5,850 5,960,448 3.000%, 09/01/15............................. 3,000 3,143,700 3.250%, 09/01/16............................. 500 539,655 City of Los Angeles (GO) Series A (NATL-RE) 5.250%, 09/01/14............................. 1,000 1,041,460 City of Los Angeles (RB) Series A 4.000%, 06/01/14............................. 520 529,568 4.000%, 06/01/15............................. 2,000 2,095,920 City of Oakland (GO) 5.000%, 01/15/15............................. 500 528,430 City of San Francisco Public Utilities Commission Wastewater Revenue (RB) Series A 3.000%, 10/01/15............................. 275 288,613 City of San Francisco Public Utilities Commission Water Revenue (RB) 5.000%, 11/01/15............................. 1,150 1,254,684 City of San Francisco Public Utilities Commission Water Revenue (RB) (ETM) 5.000%, 11/01/15............................. 425 464,134 City of San Francisco Public Utilities Commission Water Revenue (RB) Series A (ETM) 5.000%, 11/01/14............................. 1,560 1,633,304 City of San Jose (GO) 5.000%, 09/01/14............................. 500 519,365 76 DFA CALIFORNIA SHORT-TERM MUNICIPAL BOND PORTFOLIO CONTINUED FACE AMOUNT VALUE+ ------ ------ (000) CALIFORNIA -- (Continued) City of Saratoga (GO) 3.000%, 08/01/16............................. $ 450 $ 480,308 City of Tulare Sewer Revenue (RB) (AGM) 3.000%, 11/15/19............................. 200 213,178 City of Vernon (RB) Series A 5.250%, 08/01/14............................. 1,300 1,341,431 Coast Community College District (GO) (NATL-RE) 5.250%, 08/01/14............................. 1,000 1,037,420 Colton Joint Unified School District (GO) 5.000%, 08/01/16............................. 1,000 1,111,810 Colton Joint Unified School District (GO) (AGM) 4.000%, 08/01/20............................. 1,000 1,112,140 Conejo Valley Unified School District (GO) 4.000%, 08/01/18............................. 700 780,430 Contra Costa Community College District (GO) (NATL-RE FGIC) 5.000%, 08/01/14............................. 1,985 2,055,606 Contra Costa County Public Financing Authority (RB) Series B (NATL-RE) 5.000%, 06/01/15............................. 1,700 1,803,870 Contra Costa Water District (RB) Series B 4.000%, 10/01/14............................. 10,000 10,341,800 Contra Costa Water District (RB) Series Q 5.000%, 10/01/18............................. 705 829,672 County of Santa Clara (GO) Series B 5.000%, 08/01/18............................. 5,000 5,925,900 Cupertino Union School District (GO) Series B 4.000%, 08/01/15............................. 1,260 1,340,111 Davis Joint Unified School District Community Facilities District (ST) (AGM) 3.000%, 08/15/16............................. 955 1,001,814 Desert Sands Unified School District (GO) 4.000%, 08/01/18............................. 1,000 1,132,550 Desert Sands Unified School District (GO) (AGM) (currency) 5.000%, 06/01/21 (Pre-refunded @ $100, 6/1/14).............................. 3,275 3,365,030 (currency) 5.000%, 06/01/29 (Pre-refunded @ $100, 6/1/14).............................. 600 616,494 East Bay Regional Park District (GO) Series A 4.000%, 09/01/21............................. 210 237,991 FACE AMOUNT VALUE+ ------ ------ (000) CALIFORNIA -- (Continued) El Rancho Unified School District (GO) (AGM) 4.000%, 08/01/20.............................. $ 780 $ 846,573 Escondido Union School District (GO) Series B (NATL-RE FGIC) 5.500%, 08/01/14.............................. 550 570,334 Fairfield-Suisun Sewer District (RB) (ASSURED GTY) 4.000%, 05/01/16.............................. 1,000 1,071,520 Fairfield-Suisun Unified School District Financing Corp. (GO) 2.500%, 08/01/16.............................. 750 781,140 Folsom Cordova Unified School District School Facilities Improvement District No. 4 (GO) Series A (NATL-RE) 5.000%, 10/01/16.............................. 550 602,877 Fontana Unified School District (GO) 5.000%, 08/01/18.............................. 3,140 3,702,311 5.000%, 08/01/19.............................. 1,285 1,515,131 4.000%, 08/01/20.............................. 3,620 4,023,558 Foothill-De Anza Community College District (GO) 4.000%, 08/01/19.............................. 550 626,951 Fremont Unified School District/ Alameda County (GO) 5.000%, 08/01/18.............................. 750 882,030 Fremont Union High School District (GO) 5.000%, 09/01/15.............................. 925 1,003,236 Fresno Unified School District (GO) Series A 2.000%, 08/01/14.............................. 720 729,454 4.000%, 08/01/16.............................. 1,695 1,830,108 Fresno Unified School District (GO) Series A (AGM) 4.000%, 08/01/17.............................. 1,820 1,996,649 Gilroy Public Facilities Financing Authority (RB) 4.000%, 11/01/14.............................. 400 413,752 Glendale Unified School District (GO) 4.000%, 09/01/15.............................. 1,160 1,227,222 Grossmont Union High School District (GO) (NATL-RE) 5.000%, 08/01/15.............................. 1,160 1,252,997 Hemet Unified School District (GO) Series A (AGM) 5.750%, 08/01/14.............................. 500 518,760 5.625%, 08/01/15.............................. 355 383,936 Huntington Beach Public Financing Authority (RB) 3.000%, 09/01/16.............................. 950 1,002,459 77 DFA CALIFORNIA SHORT-TERM MUNICIPAL BOND PORTFOLIO CONTINUED FACE AMOUNT VALUE+ ------ ------ (000) CALIFORNIA -- (Continued) Kern High School District (GO) Series C (NATL-RE FGIC) 5.500%, 08/01/14............................. $ 650 $ 674,577 Long Beach Unified School District (GO) Series A 4.000%, 08/01/14............................. 2,335 2,400,473 5.000%, 08/01/14............................. 1,000 1,035,420 Los Altos Elementary School District (GO) 5.000%, 08/01/19............................. 975 1,166,695 Los Angeles Community College District (GO) Series A (AGM) 5.250%, 08/01/14............................. 4,000 4,149,680 Los Angeles Community College District (GO) Series F-1 3.250%, 08/01/14............................. 2,300 2,352,118 3.000%, 08/01/15............................. 500 523,125 Los Angeles Convention & Exhibit Center Authority (RB) Series A 5.000%, 08/15/17............................. 975 1,108,711 Los Angeles County Metropolitan Transportation Authority (RB) 5.000%, 07/01/19............................. 4,000 4,780,280 Los Angeles County Metropolitan Transportation Authority (RB) (AMBAC) 5.000%, 07/01/14............................. 500 515,715 Los Angeles County Metropolitan Transportation Authority (RB) Series A 4.000%, 07/01/15............................. 11,825 12,536,865 Los Angeles Department of Water & Power (RB) Series A 5.000%, 07/01/14............................. 4,715 4,861,919 5.000%, 07/01/16............................. 1,100 1,237,577 5.000%, 07/01/19............................. 2,990 3,589,495 Los Angeles Municipal Improvement Corp. (RB) Series A 4.000%, 11/01/14............................. 2,770 2,865,787 4.000%, 11/01/16............................. 1,795 1,942,118 5.000%, 03/01/17............................. 4,300 4,799,230 Los Angeles Municipal Improvement Corp. (RB) Series A (NATL-RE FGIC) 4.000%, 01/01/16............................. 400 426,232 Los Angeles Municipal Improvement Corp. (RB) Series C 3.000%, 03/01/16............................. 750 784,695 Los Angeles Municipal Improvement Corp. (RB) Series E 5.000%, 09/01/14............................. 690 716,199 FACE AMOUNT VALUE+ ------ ------ (000) CALIFORNIA -- (Continued) Los Angeles Unified School District (GO) (NATL-RE) 5.750%, 07/01/14............................. $2,230 $2,311,038 5.750%, 07/01/15............................. 1,170 1,274,610 Los Angeles Unified School District (GO) Series A 4.000%, 07/01/17............................. 5,500 6,160,275 Los Angeles Unified School District (GO) Series A-1 (FGIC) 5.500%, 07/01/18............................. 2,395 2,886,454 Los Angeles Unified School District (GO) Series A-2 5.000%, 07/01/21............................. 1,800 2,167,326 Los Angeles Unified School District (GO) Series E (AMBAC) 5.000%, 07/01/15............................. 875 942,410 Los Angeles Unified School District (GO) Series G (AMBAC) 5.000%, 07/01/16............................. 930 1,042,623 Los Angeles Unified School District (GO) Series KRY 5.000%, 07/01/15............................. 1,250 1,346,300 Los Angeles Wastewater System (RB) Series A 5.000%, 06/01/14............................. 3,300 3,390,717 Madera County Transportation Authority (RB) (AGM) 3.000%, 03/01/15............................. 1,020 1,046,041 Manhattan Beach Unified School District (GO) Series F 4.000%, 09/01/21............................. 500 559,380 Manteca Unified School District (GO) (AGM) (currency) 5.250%, 08/01/22 (Pre-refunded @ $100, 8/1/14).............................. 500 518,670 Metropolitan Water District of Southern California (RB) Series B-3 5.000%, 10/01/14............................. 1,050 1,095,675 Metropolitan Water District of Southern California (RB) Series C 4.000%, 10/01/15............................. 900 962,334 Mount San Antonio Community College District (GO) Series C (AGM) 4.000%, 09/01/14............................. 750 773,400 New Haven Unified School District (GO) (AGM) 12.000%, 08/01/16............................ 2,480 3,226,951 12.000%, 08/01/17............................ 1,500 2,095,890 78 DFA CALIFORNIA SHORT-TERM MUNICIPAL BOND PORTFOLIO CONTINUED FACE AMOUNT VALUE+ ------ ------ (000) CALIFORNIA -- (Continued) Northern California Power Agency (RB) Series A 5.000%, 07/01/17............................. $1,000 $1,135,880 Oak Park Unified School District (GO) Series A 4.000%, 08/01/14............................. 600 613,524 Oakland-Alameda County Coliseum Authority (RB) Series A 3.000%, 02/01/14............................. 925 931,133 5.000%, 02/01/17............................. 3,700 4,161,612 Orange County (RB) Series A (NATL-RE) 5.000%, 06/01/15............................. 2,000 2,139,460 Orange County Public Financing Authority (RB) (NATL-RE) 5.000%, 07/01/16............................. 3,000 3,307,830 Orange County Sanitation District (RB) Series A 4.000%, 08/01/14............................. 4,410 4,534,671 Oxnard School District (GO) Series B (ASSURED GTY) 4.000%, 08/01/14............................. 500 512,060 Oxnard Union High School District (GO) 4.000%, 08/01/14............................. 475 488,248 Palm Springs Financing Authority (RB) Series A 3.000%, 11/01/15............................. 625 647,419 Palomar Pomerado Health (GO) Series A (AMBAC) 5.000%, 08/01/15............................. 500 531,965 Pasadena Unified School District (GO) 5.000%, 05/01/20............................. 550 651,046 Peralta Community College District (GO) 5.000%, 08/01/17............................. 1,000 1,144,440 5.000%, 08/01/19............................. 2,220 2,596,401 Peralta Community College District (GO) Series C 4.000%, 08/01/14............................. 500 513,905 5.000%, 08/01/15............................. 1,045 1,128,401 Piedmont Unified School District (GO) 2.000%, 08/01/14............................. 340 344,515 Pleasanton Unified School District (GO) (AGM) 5.250%, 08/01/16............................. 500 554,965 Poway Unified School District (GO) 3.250%, 08/01/18............................. 1,350 1,471,891 Rancho Santiago Community College District (GO) 3.000%, 09/01/15............................. 1,195 1,252,240 FACE AMOUNT VALUE+ ------ ------ (000) CALIFORNIA -- (Continued) Rancho Santiago Community College District (GO) (AGM) 5.250%, 09/01/16............................. $ 300 $ 338,796 Riverside County Transportation Commission (RB) Series A 5.000%, 06/01/18............................. 500 587,450 Riverside Unified School District (GO) 4.000%, 02/01/14............................. 920 928,455 Sacramento Area Flood Control Agency (SA) Series A (NATL-RE FGIC) 5.000%, 10/01/15............................. 765 831,884 Sacramento County Sanitation District (GO) (AMBAC) (currency) 5.000%, 12/01/35 (Pre-refunded @ $100, 12/1/14)............................. 4,040 4,246,242 Sacramento County Sanitation District (RB) (NATL-RE) 5.000%, 08/01/14............................. 750 776,565 Sacramento Municipal Utility District (RB) Series U (AGM) 5.000%, 08/15/14............................. 1,000 1,037,120 5.000%, 08/15/17............................. 620 715,703 San Diego County Regional Transportation Commission (RB) Series A 4.000%, 04/01/18............................. 425 482,766 San Diego Public Facilities Financing Authority (RB) Series A 4.500%, 05/15/14............................. 2,560 2,618,035 San Diego Public Facilities Financing Authority (RB) Series B 5.000%, 05/15/14............................. 1,000 1,025,310 5.000%, 05/15/16............................. 1,550 1,726,235 San Diego Public Facilities Financing Authority Sewer Revenue (RB) Series A 5.000%, 05/15/18............................. 350 411,145 San Diego Public Facilities Financing Authority Water Revenue (RB) Series A 5.000%, 08/01/16............................. 6,200 6,945,302 San Diego Unified School District (GO) 2.000%, 07/01/15............................. 12,600 12,942,846 San Diego Unified School District (GO) Series B 1.000%, 07/01/15............................. 5,000 5,053,600 San Diego Unified School District (GO) Series F (AGM) (currency) 5.000%, 07/01/29 (Pre-refunded @ $100, 7/1/14).............................. 1,555 1,603,982 79 DFA CALIFORNIA SHORT-TERM MUNICIPAL BOND PORTFOLIO CONTINUED FACE AMOUNT VALUE+ ------ ------ (000) CALIFORNIA -- (Continued) San Francisco Community College District (GO) Series A 5.000%, 06/15/16.............................. $2,495 $2,776,910 San Francisco Community College District (GO) Series A (AGM) 5.000%, 06/15/15.............................. 2,265 2,428,714 San Francisco Community College District (GO) Series B 5.000%, 06/15/14.............................. 1,515 1,557,874 San Francisco Community College District (GO) Series C 3.000%, 06/15/14.............................. 930 944,973 4.000%, 06/15/16.............................. 845 918,625 4.000%, 06/15/18.............................. 485 540,882 San Francisco Community College District (GO) Series C (AGM) 5.000%, 06/15/14.............................. 1,015 1,043,724 San Francisco Unified School District (GO) 5.000%, 06/15/16.............................. 400 445,084 San Francisco Unified School District (GO) Series C (NATL-RE) 5.000%, 06/15/15.............................. 1,400 1,505,196 San Jose Unified School District (GO) (NATL-RE FGIC) 5.000%, 08/01/14.............................. 810 838,690 San Juan Unified School District (GO) (AGM) 4.000%, 08/01/14.............................. 625 642,525 4.000%, 08/01/15.............................. 600 637,932 San Juan Unified School District (GO) Series B 3.000%, 08/01/16.............................. 700 745,171 San Leandro Unified School District (GO) Series B 4.000%, 08/01/21.............................. 265 289,099 San Marino Unified School District (GO) Series A 5.250%, 07/01/14.............................. 500 515,420 San Ramon Valley Unified School District (GO) 4.000%, 08/01/21.............................. 4,225 4,756,927 Santa Clara Unified School District (GO) 4.000%, 07/01/15.............................. 500 530,185 Santa Clara Valley Transportation Authority (RB) Series B 5.000%, 04/01/18.............................. 7,645 9,013,990 Santa County Clara (RAN) 1.250%, 06/30/14.............................. 7,000 7,050,610 Santa Margarita-Dana Point Authority (RB) Series B (GO OF DIST) 4.000%, 08/01/17.............................. 1,000 1,108,260 FACE AMOUNT VALUE+ ------ ------ (000) CALIFORNIA -- (Continued) Solano County Community College District (GO) (NATL-RE) 5.000%, 08/01/15............................. $ 1,115 $ 1,201,346 Southern California Public Power Authority (RB) 4.000%, 07/01/15............................. 675 715,865 5.000%, 07/01/18............................. 1,135 1,339,300 5.000%, 07/01/18............................. 1,175 1,386,500 Southwestern Community College District (GO) Series A 5.500%, 08/01/17............................. 275 318,541 Union Elementary School District (GO) Series A 3.000%, 09/01/18............................. 1,130 1,230,559 University of California (RB) Series E (NATL-RE) 5.000%, 05/15/14............................. 3,180 3,261,154 University of California (RB) Series O 5.000%, 05/15/14............................. 3,275 3,358,578 Vista Unified School District (GO) (AGM) 4.000%, 08/01/15............................. 1,000 1,063,220 Washington Township Health Care District (GO) Series A 6.500%, 08/01/14............................. 750 781,995 Washington Unified School District-Yolo County (GO) 4.000%, 08/01/20............................. 1,000 1,097,670 West Contra Costa Unified School District (GO) (AGM) 5.000%, 08/01/17............................. 650 742,339 Westlands Water District (RB) Series A (AGM) 4.000%, 09/01/20............................. 750 832,058 ------------ TOTAL MUNICIPAL BONDS............................ 481,602,809 ------------ SHARES ------ COMMERCIAL PAPER -- (4.1%) California State University, 0.110%.......... 9,000,000 9,000,090 City & County of San Francisco, 0.070%....... 12,430,000 12,430,000 ------------ TOTAL COMMERCIAL PAPER....................................... 21,430,090 ------------ TEMPORARY CASH INVESTMENTS -- (2.5%) JPMorgan Tax Free Money Market Fund.......... 12,834,988 12,834,988 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $511,934,752)............................ $515,867,887 ============ 80 DFA CALIFORNIA SHORT-TERM MUNICIPAL BOND PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) --------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ----------- ------------ ------- ------------ Municipal Bonds............ -- $481,602,809 -- $481,602,809 Commercial Paper........... -- 21,430,090 -- 21,430,090 Temporary Cash Investments. $12,834,988 -- -- 12,834,988 ----------- ------------ -- ------------ TOTAL...................... $12,834,988 $503,032,899 -- $515,867,887 =========== ============ == ============ See accompanying Notes to Financial Statements. 81 DFA CALIFORNIA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 FACE AMOUNT VALUE+ ------ ------ (000) MUNICIPAL BONDS -- (98.5%) CALIFORNIA -- (98.5%) Albany Unified School District (GO) 4.000%, 08/01/21............................. $ 240 $ 261,125 Alhambra Unified School District (GO) Series A (ASSURED GTY) 5.250%, 08/01/18............................. 375 436,470 Alum Rock Union Elementary School District (GO) Series A 5.000%, 09/01/21............................. 730 839,880 Amador County Unified School District (GO) 4.000%, 08/01/19............................. 385 411,219 Anaheim Public Financing Authority (RB) 5.000%, 08/01/17............................. 500 569,650 Antelope Valley Union High School District (GO) 4.000%, 08/01/21............................. 500 545,105 5.000%, 08/01/22............................. 350 405,780 Azusa Unified School District (GO) 5.000%, 07/01/21............................. 425 488,380 Baldwin Park Unified School District (GO) (AGM) 5.000%, 08/01/17............................. 100 113,184 Bay Area Toll Authority (RB) Series F 5.000%, 04/01/15............................. 150 159,881 Berryessa Union School District (GO) (AMBAC) 5.375%, 08/01/18............................. 200 226,686 Beverly Hills Unified School District (GO) 4.000%, 08/01/16............................. 520 568,251 Buena Park School District (GO) (AGM) 2.500%, 08/01/21............................. 75 72,375 California Educational Facilities Authority (RB) 5.000%, 10/01/16............................. 500 555,150 California State (GO) 5.000%, 09/01/15............................. 100 108,496 5.000%, 11/01/15............................. 100 109,229 5.000%, 10/01/16............................. 300 338,427 5.000%, 11/01/16............................. 150 169,665 4.250%, 08/01/17............................. 100 112,524 5.000%, 09/01/18............................. 1,325 1,557,484 5.000%, 10/01/18............................. 250 294,340 5.500%, 04/01/19............................. 1,075 1,290,021 3.125%, 10/01/19............................. 100 107,740 5.000%, 10/01/19............................. 250 295,548 4.000%, 11/01/19............................. 135 152,199 5.000%, 09/01/20............................. 700 827,407 5.000%, 10/01/20............................. 375 443,767 FACE AMOUNT VALUE+ ------ ------ (000) CALIFORNIA -- (Continued) 5.000%, 02/01/21.............................. $ 700 $ 822,283 5.000%, 04/01/21.............................. 475 558,324 5.000%, 09/01/21.............................. 3,705 4,367,899 5.000%, 02/01/22.............................. 1,875 2,203,687 5.000%, 04/01/22.............................. 500 588,420 4.000%, 09/01/22.............................. 525 578,245 5.250%, 09/01/22.............................. 750 899,212 5.250%, 10/01/22.............................. 810 971,797 5.000%, 02/01/23.............................. 350 410,421 California State Department of Water Resources (RB) Series L 5.000%, 05/01/17.............................. 450 517,756 5.000%, 05/01/20.............................. 1,000 1,199,890 California State Department of Water Resources (RB) Series M 5.000%, 05/01/16.............................. 900 1,003,383 4.000%, 05/01/19.............................. 455 516,775 California State Economic Recovery (GO) Series A 5.000%, 07/01/16.............................. 280 313,432 5.000%, 07/01/17.............................. 250 288,435 4.400%, 07/01/18.............................. 410 472,849 California State University (RB) Series A 5.000%, 11/01/15.............................. 400 436,580 5.000%, 11/01/16.............................. 530 598,640 2.500%, 11/01/18.............................. 1,500 1,592,655 5.000%, 11/01/19.............................. 450 536,476 California State University (RB) Series C (AGM) 5.000%, 11/01/22.............................. 100 119,393 Campbell Union High School District (GO) 4.000%, 08/01/17.............................. 200 221,342 Capistrano Unified School District School Facilities Improvement District No. 1 (GO) 4.000%, 08/01/22.............................. 410 449,557 Chaffey Community College District (GO) Series E 4.000%, 06/01/22.............................. 335 369,472 Chico Unified School District (GO) Series B (AGM) 4.000%, 08/01/15.............................. 100 105,603 Chino Valley Unified School District (GO) Series A 4.000%, 08/01/21.............................. 200 218,774 Chula Vista Elementary School District (GO) 5.000%, 08/01/22.............................. 1,835 2,158,382 City & County of San Francisco (GO) 4.000%, 06/15/20.............................. 800 911,368 82 DFA CALIFORNIA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO CONTINUED FACE AMOUNT VALUE+ ------ ------ (000) CALIFORNIA -- (Continued) City & County of San Francisco (GO) Series R1 5.000%, 06/15/21............................. $ 470 $ 566,872 City of El Monte School District (GO) Series A (ASSURED GTY) 5.000%, 08/01/15............................. 175 187,696 City of Long Beach Harbor Revenue (RB) Series B 5.000%, 05/15/19............................. 250 295,378 City of Los Angeles (GO) Series A 4.000%, 09/01/18............................. 780 887,913 City of Los Angeles (GO) Series B 5.000%, 09/01/19............................. 600 717,390 City of Los Angeles (RB) Series A 4.000%, 06/01/15............................. 275 288,189 City of Riverside Water Revenue (RB) Series A 5.000%, 10/01/18............................. 300 355,722 City of San Francisco Public Utilities Commission Water Revenue (RB) Series A 5.000%, 11/01/15............................. 40 43,641 5.000%, 11/01/15............................. 135 147,431 Colton Joint Unified School District (GO) 5.000%, 08/01/21............................. 900 1,053,252 Colton Joint Unified School District (GO) Series C (NATL-RE FGIC) 5.000%, 02/01/15............................. 140 148,004 Conejo Valley Unified School District (GO) 2.000%, 08/01/18............................. 2,350 2,400,290 4.000%, 08/01/18............................. 115 128,214 Contra Costa County Public Financing Authority (RB) Series B (NATL-RE) 5.000%, 06/01/15............................. 200 212,220 Contra Costa County Walnut Creek Elementary School District (GO) 1.500%, 09/01/17............................. 500 509,730 Cupertino Union School District (GO) Series A 4.000%, 08/01/17............................. 275 307,890 Davis Joint Unified School District Community Facilities District (ST) (AGM) 3.000%, 08/15/22............................. 1,000 987,030 Davis Joint Unified School District Community Facilities District No. 2 (ST) (AGM) 3.000%, 08/15/19............................. 500 520,475 East Side Union High School District (GO) 4.000%, 08/01/21............................. 600 666,966 East Side Union High School District (GO) Series D 3.000%, 08/01/19............................. 825 883,864 FACE AMOUNT VALUE+ ------ ------ (000) CALIFORNIA -- (Continued) El Dorado Irrigation District & El Dorado Water Agency (CP) Series A (ASSURED GTY) 4.000%, 08/01/16.............................. $ 530 $ 566,893 Enterprise Elementary School District (GO) 4.000%, 09/01/19.............................. 500 546,915 Escondido Union School District (GO) Series B (NATL-RE FGIC) 5.000%, 08/01/15.............................. 450 480,703 5.000%, 08/01/16.............................. 400 440,940 Fallbrook Union Elementary School District (GO) Series A 5.000%, 08/01/20.............................. 200 231,630 Folsom Cordova Unified School District School Facilities Improvement District No. 4 (GO) Series A (NATL-RE) 5.000%, 10/01/16.............................. 500 548,070 Fontana Unified School District (GO) 5.000%, 08/01/19.............................. 600 707,454 4.000%, 08/01/21.............................. 1,585 1,740,758 4.000%, 08/01/22.............................. 875 951,615 Franklin-Mckinley School District (GO) (ASSURED GTY) 5.000%, 08/01/17.............................. 275 312,010 Fullerton Joint Union High School District (GO) 4.000%, 08/01/16.............................. 135 145,990 Grossmont Union High School District (GO) Series A 5.000%, 08/01/18.............................. 200 236,730 Huntington Beach Public Financing Authority (RB) 4.000%, 09/01/18.............................. 200 220,914 Jurupa Unified School District (GO) (AGM) 4.000%, 08/01/18.............................. 235 258,939 5.000%, 08/01/20.............................. 725 822,302 Liberty Union High School District (GO) 4.000%, 08/01/21.............................. 500 541,470 Lompoc Unified School District (GO) (ASSURED GTY) 5.250%, 08/01/20.............................. 540 628,274 Los Angeles Convention & Exhibit Center Authority (RB) Series A 4.500%, 08/15/18.............................. 300 340,155 Los Angeles County Metropolitan Transportation Authority (RB) 5.000%, 07/01/17.............................. 525 606,952 Los Angeles County Metropolitan Transportation Authority (RB) Series A 5.000%, 07/01/17.............................. 300 341,457 5.000%, 07/01/18.............................. 665 769,917 83 DFA CALIFORNIA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO CONTINUED FACE AMOUNT VALUE+ ------ ------ (000) CALIFORNIA -- (Continued) Los Angeles Municipal Improvement Corp. (RB) Series A 5.000%, 09/01/16.............................. $ 200 $ 221,024 Los Angeles Municipal Improvement Corp. (RB) Series A (ASSURED GTY) 4.000%, 04/01/15.............................. 105 110,064 Los Angeles Municipal Improvement Corp. (RB) Series C 3.000%, 03/01/16.............................. 250 261,565 Los Angeles Unified School District (GO) (NATL-RE) 5.750%, 07/01/15.............................. 125 136,176 Los Angeles Unified School District (GO) Series A 3.000%, 07/01/19.............................. 475 515,370 5.000%, 07/01/20.............................. 150 180,081 2.000%, 07/01/22.............................. 630 609,443 Los Angeles Unified School District (GO) Series D 4.000%, 07/01/17.............................. 200 224,010 Los Angeles Unified School District (GO) Series F (FGIC) 5.000%, 07/01/15.............................. 150 161,556 5.000%, 07/01/16.............................. 215 241,037 Los Angeles Unified School District (GO) Series KRY 5.000%, 07/01/15.............................. 250 269,260 5.000%, 07/01/18.............................. 750 886,875 Los Rios Community College District (GO) Series B 5.000%, 08/01/23.............................. 510 594,629 Lynwood Unified School District (GO) (AGM) 5.000%, 08/01/21.............................. 450 519,790 5.000%, 08/01/22.............................. 485 561,480 Manhattan Beach Unified School District (GO) Series C 3.500%, 09/01/21.............................. 1,185 1,283,592 Manhattan Beach Unified School District (GO) Series E 3.000%, 09/01/22.............................. 560 581,582 Mendocino-Lake Community College District (GO) Series A (NATL-RE) 5.000%, 08/01/17.............................. 100 110,562 Menifee Union School District (GO) 3.000%, 08/01/23.............................. 670 663,829 Merced Union High School District (GO) Series A (ASSURED GTY) 4.000%, 08/01/18.............................. 250 278,240 Montebello Unified School District (GO) 5.000%, 08/01/20.............................. 415 485,131 FACE AMOUNT VALUE+ ------ ------ (000) CALIFORNIA -- (Continued) Morongo Unified School District (GO) 3.000%, 08/01/22............................. $480 $480,720 Mount Diablo Unified School District (GO) 4.000%, 08/01/16............................. 165 178,852 3.250%, 08/01/19............................. 500 537,375 New Haven Unified School District (GO) (ASSURED GTY) 5.000%, 08/01/19............................. 150 174,987 Oakland Joint Powers Financing Authority (RB) Series B (ASSURED GTY) 4.500%, 08/01/18............................. 500 560,805 Oceanside Unified School District (GO) 4.000%, 08/01/17............................. 300 330,387 Oceanside Unified School District (GO) Series A (ASSURED GTY) 3.000%, 08/01/16............................. 350 369,838 Orange County Sanitation District (CP) Series B (AGM) 5.000%, 02/01/15............................. 300 317,229 Oxnard Financing Authority (RB) Series A 4.000%, 06/01/16............................. 250 267,940 Oxnard Union High School District (GO) 4.000%, 08/01/21............................. 320 351,683 4.000%, 08/01/22............................. 500 544,185 Oxnard Union High School District (GO) Series A (AGM) 4.000%, 08/01/15............................. 245 257,157 Peralta Community College District (GO) 5.000%, 08/01/17............................. 100 114,444 Peralta Community College District (GO) (AGM) 5.000%, 08/01/15............................. 200 215,962 Placentia-Yorba Linda Unified School District (GO) Series A 5.000%, 08/01/18............................. 275 320,235 Plumas Unified School District (GO) (AGM) 5.250%, 08/01/21............................. 800 912,184 Pomona Unified School District (GO) Series C 4.000%, 08/01/16............................. 250 268,803 Porterville Unified School District Facilities Improvement District (GO) Series B (AGM) 5.000%, 08/01/18............................. 450 506,610 5.000%, 08/01/19............................. 325 365,953 Poway Unified School District (GO) 5.000%, 08/01/19............................. 200 234,860 84 DFA CALIFORNIA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO CONTINUED FACE AMOUNT VALUE+ ------ ------ (000) CALIFORNIA -- (Continued) Rancho Santiago Community College District (GO) (AGM) 5.250%, 09/01/20............................. $ 500 $ 604,200 Roseville City School District (GO) 5.000%, 08/01/17............................. 400 456,036 Sacramento Municipal Utility District (RB) Series U (AGM) 5.000%, 08/15/17............................. 125 144,295 Sacramento Unified School District (GO) 5.000%, 07/01/18............................. 300 344,562 San Bernardino County Flood Control District (RB) (AMBAC) 5.500%, 08/01/15............................. 100 107,520 San Diego County Regional Transportation Commission (RB) Series A 5.000%, 04/01/18............................. 1,365 1,609,431 San Diego County Water Authority (RB) Series A 4.000%, 05/01/17............................. 450 501,426 San Diego Public Facilities Financing Authority Sewer Revenue (RB) Series A 5.000%, 05/15/15............................. 250 267,818 San Diego Public Facilities Financing Authority Water Revenue (RB) Series A 5.000%, 08/01/16............................. 400 448,084 San Diego Public Facilities Financing Authority Water Revenue (RB) Series B 3.750%, 08/01/15............................. 250 264,723 San Diego Unified School District (GO) Series C-2 (AGM) 5.500%, 07/01/21............................. 600 731,694 5.500%, 07/01/25............................. 2,000 2,416,320 San Francisco Unified School District (GO) 5.000%, 06/15/16............................. 345 383,885 San Juan Unified School District (GO) 5.000%, 08/01/22............................. 800 951,264 San Juan Unified School District (GO) Series B 3.000%, 08/01/16............................. 260 276,778 San Ramon Valley Unified School District (GO) 4.000%, 08/01/21............................. 1,000 1,125,900 Santa Ana Unified School District (GO) Series A 5.000%, 08/01/18............................. 275 316,280 Santa Clara Unified School District (GO) 5.000%, 07/01/20............................. 1,000 1,186,740 FACE AMOUNT VALUE+ ------ ------ (000) CALIFORNIA -- (Continued) Santa Cruz City High School District (GO) 4.000%, 08/01/22............................. $ 715 $ 791,012 Santa Monica Public Financing Authority (RB) Series B 4.000%, 12/01/19............................. 175 196,943 Saugus Union School District (GO) (NATL-RE FGIC) 5.250%, 08/01/17............................. 500 572,630 Saugus/Hart School Facilities Financing Authority (RB) Series B 5.000%, 09/01/15............................. 300 316,683 Sequoia Union High School District (GO) Series A 4.000%, 07/01/16............................. 360 390,406 Southern California Public Power Authority (RB) 4.000%, 07/01/15............................. 525 556,783 5.000%, 07/01/18............................. 250 295,000 4.000%, 07/01/19............................. 400 455,188 Stockton Unified School District (GO) (AGM) 5.000%, 07/01/20............................. 150 170,883 Temecula Valley Unified School District (GO) (AGM) 5.000%, 08/01/15............................. 100 107,021 Upland Unified School District (GO) 1.000%, 08/01/16............................. 900 903,402 Val Verde Unified School District (GO) Series B (AGM) 3.000%, 08/01/17............................. 200 209,822 Vista Unified School District (GO) 5.000%, 08/01/22............................. 250 294,910 West Contra Costa Unified School District (GO) (AGM) 5.000%, 08/01/17............................. 195 222,702 West Contra Costa Unified School District (GO) (ASSURED GTY) 5.000%, 08/01/17............................. 175 199,861 West Contra Costa Unified School District (GO) Series B 6.000%, 08/01/20............................. 1,065 1,320,153 Western Riverside County Regional Wastewater Authority (RB) (ASSURED GTY) 5.000%, 09/01/19............................. 250 283,515 Wiseburn School District (GO) Series A (NATL-RE) 5.000%, 08/01/15............................. 400 428,300 Wright Elementary School District (GO) Series A 3.000%, 08/01/20............................. 165 169,361 Yosemite Union High School District (GO) (AGM) 4.000%, 08/01/19............................. 395 427,141 85 DFA CALIFORNIA INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO CONTINUED FACE AMOUNT VALUE+ ------ ------ (000) CALIFORNIA -- (Continued) Yuba Community College District (GO) Series C 5.000%, 08/01/17............................. $240 $ 274,284 ----------- TOTAL MUNICIPAL BONDS............................ 94,567,749 ----------- SHARES VALUE+ ------ ------ TEMPORARY CASH INVESTMENTS -- (1.5%) JPMorgan Tax Free Money Market Fund.......... 1,478,696 $ 1,478,696 ----------- TOTAL INVESTMENTS -- (100.0%) (Cost $96,374,991)............................. $96,046,445 =========== Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ------------------------------------------ LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ---------- ----------- ------- ----------- Municipal Bonds............ -- $94,567,749 -- $94,567,749 Temporary Cash Investments. $1,478,696 -- -- 1,478,696 ---------- ----------- -- ----------- TOTAL...................... $1,478,696 $94,567,749 -- $96,046,445 ========== =========== == =========== See accompanying Notes to Financial Statements. 86 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS) DFA DFA TWO-YEAR SELECTIVELY DFA SHORT- DFA ONE-YEAR GLOBAL FIXED HEDGED GLOBAL TERM FIXED INCOME INCOME FIXED INCOME GOVERNMENT PORTFOLIO PORTFOLIO PORTFOLIO PORTFOLIO -------------- -------------- ------------- ------------ ASSETS: Investments at Value (including $150,996, $156,176, $0 and $0 of securities on loan, respectively)........................... $ 7,814,213 $ 5,504,477 $ 967,939 $ 1,756,635 Temporary Cash Investments at Value & Cost...................... 68,819 -- -- 8,306 Collateral Received from Securities on Loan at Value & Cost..... -- 379 -- -- Collateral from Securities on Loan Invested in Affiliate at Value & Cost................................................... 154,186 158,000 -- -- Foreign Currencies at Value..................................... -- -- 1 -- Cash............................................................ -- 195,548 15,372 -- Receivables: Investment Securities Sold.................................... 45,558 -- 2,193 20,081 Interest...................................................... 35,447 38,581 8,988 14,885 Securities Lending Income..................................... 10 30 -- -- Fund Shares Sold.............................................. 259,329 6,727 471 2,111 Unrealized Gain on Forward Currency Contracts................... -- 16,869 3,160 -- Prepaid Expenses and Other Assets............................... 145 70 13 27 -------------- -------------- ------------ ------------ Total Assets............................................... 8,377,707 5,920,681 998,137 1,802,045 -------------- -------------- ------------ ------------ LIABILITIES: Payables: Due to Custodian.............................................. -- 10 -- -- Upon Return of Securities Loaned.............................. 154,186 158,379 -- -- Investment Securities Purchased............................... 47,538 172,228 8,380 19,991 Fund Shares Redeemed.......................................... 22,812 9,047 397 1,053 Due to Advisor................................................ 1,001 705 125 254 Loan Payable.................................................. 61,527 -- -- -- Unrealized Loss on Forward Currency Contracts................... -- 27,461 3,861 -- Accrued Expenses and Other Liabilities.......................... 932 653 87 171 -------------- -------------- ------------ ------------ Total Liabilities.......................................... 287,996 368,483 12,850 21,469 -------------- -------------- ------------ ------------ NET ASSETS...................................................... $ 8,089,711 $ 5,552,198 $ 985,287 $ 1,780,576 ============== ============== ============ ============ Institutional Class Shares -- based on net assets of $8,089,711; $5,552,198; $985,287 and $1,780,576 and shares outstanding of 783,227,414; 551,882,281; 96,454,976 and 166,344,871, respectively.................................. $ 10.33 $ 10.06 $ 10.21 $ 10.70 ============== ============== ============ ============ NUMBER OF SHARES AUTHORIZED..................................... 2,000,000,000 2,000,000,000 300,000,000 500,000,000 ============== ============== ============ ============ Investments at Cost............................................. $ 7,804,077 $ 5,529,212 $ 972,456 $ 1,751,892 ============== ============== ============ ============ Foreign Currencies at Cost...................................... $ -- $ -- $ 1 $ -- ============== ============== ============ ============ NET ASSETS CONSIST OF: Paid-In Capital................................................. $ 8,072,345 $ 5,554,571 $ 979,626 $ 1,770,220 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)......................................... 1,422 27,488 9,492 1,930 Accumulated Net Realized Gain (Loss)............................ 5,808 5,247 1,412 3,683 Net Unrealized Foreign Exchange Gain (Loss)..................... -- (10,373) (726) -- Net Unrealized Appreciation (Depreciation)...................... 10,136 (24,735) (4,517) 4,743 -------------- -------------- ------------ ------------ NET ASSETS...................................................... $ 8,089,711 $ 5,552,198 $ 985,287 $ 1,780,576 ============== ============== ============ ============ See accompanying Notes to Financial Statements. 87 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS) DFA WORLD EX DFA DFA FIVE-YEAR U.S. INTERMEDIATE DFA SHORT- GLOBAL FIXED GOVERNMENT GOVERNMENT TERM EXTENDED INCOME FIXED INCOME FIXED INCOME QUALITY PORTFOLIO PORTFOLIO PORTFOLIO PORTFOLIO -------------- ------------ ------------ ------------- ASSETS: Investments at Value (including $462,752, $0, $0 and $167,646 of securities on loan, respectively)............................... $ 7,751,104 $ 235,154 $ 3,579,871 $ 2,595,131 Temporary Cash Investments at Value & Cost.......................... -- -- 30,907 -- Collateral Received from Securities on Loan at Value & Cost......... 111 -- -- 490 Collateral from Securities on Loan Invested in Affiliate at Value & Cost............................................................... 473,000 -- -- 171,000 Foreign Currencies at Value......................................... 5,684 426 -- -- Cash................................................................ 48,436 8,740 -- 47,083 Receivables: Investment Securities Sold........................................ 239,502 20,611 -- 8,814 Interest.......................................................... 44,385 2,622 43,034 20,026 Securities Lending Income......................................... 73 -- -- 22 Fund Shares Sold.................................................. 11,217 77 16,100 4,611 Unrealized Gain on Forward Currency Contracts....................... 9,973 580 -- 1,278 Unrealized Gain on Foreign Currency Contracts....................... -- 10 -- -- Prepaid Expenses and Other Assets................................... 124 17 52 49 -------------- ------------ ------------ ------------ Total Assets................................................... 8,583,609 268,237 3,669,964 2,848,504 -------------- ------------ ------------ ------------ LIABILITIES: Payables: Due to Custodian.................................................. -- -- -- 16 Upon Return of Securities Loaned.................................. 473,111 -- -- 171,490 Investment Securities Purchased................................... 234,345 24,666 -- 43,663 Fund Shares Redeemed.............................................. 4,348 59 3,452 632 Due to Advisor.................................................... 1,645 23 304 354 Unrealized Loss on Forward Currency Contracts..................... 17,824 2,729 -- 28 Unrealized Loss on Foreign Currency Contracts....................... -- 2 -- -- Accrued Expenses and Other Liabilities.............................. 775 25 370 237 -------------- ------------ ------------ ------------ Total Liabilities.............................................. 732,048 27,504 4,126 216,420 -------------- ------------ ------------ ------------ NET ASSETS.......................................................... $ 7,851,561 $ 240,733 $ 3,665,838 $ 2,632,084 ============== ============ ============ ============ Institutional Class Shares -- based on net assets of $7,851,561; $240,733; $3,665,838 and $2,632,084 and shares outstanding of 704,786,751; 23,347,470; 292,790,530 and 242,427,691, respectively....................................................... $ 11.14 $ 10.31 $ 12.52 $ 10.86 ============== ============ ============ ============ NUMBER OF SHARES AUTHORIZED......................................... 1,500,000,000 100,000,000 700,000,000 500,000,000 ============== ============ ============ ============ Investments at Cost................................................. $ 7,710,325 $ 237,463 $ 3,481,682 $ 2,571,566 ============== ============ ============ ============ Foreign Currencies at Cost.......................................... $ 5,692 $ 432 $ -- $ -- ============== ============ ============ ============ NET ASSETS CONSIST OF: Paid-In Capital..................................................... $ 7,671,593 $ 240,402 $ 3,554,155 $ 2,601,686 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)............................................. 37,452 4,696 13,730 609 Accumulated Net Realized Gain (Loss)................................ 109,282 54 (236) 4,976 Net Unrealized Foreign Exchange Gain (Loss)......................... (7,537) (2,104) -- 1,248 Net Unrealized Appreciation (Depreciation).......................... 40,771 (2,315) 98,189 23,565 -------------- ------------ ------------ ------------ NET ASSETS.......................................................... $ 7,851,561 $ 240,733 $ 3,665,838 $ 2,632,084 ============== ============ ============ ============ See accompanying Notes to Financial Statements. 88 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS) DFA INTERMEDIATE- DFA INFLATION- DFA SHORT- TERM EXTENDED DFA PROTECTED TERM QUALITY INVESTMENT SECURITIES MUNICIPAL PORTFOLIO GRADE PORTFOLIO PORTFOLIO BOND PORTFOLIO ------------- --------------- -------------- -------------- ASSETS: Investments in Affiliated Investment Companies at Value..... -- $ 1,423,091 -- -- Investments at Value (including $152,410, $0, $0 and $0 of securities on loan, respectively).......................... $ 1,353,748 -- $ 2,590,858 $ 1,732,896 Temporary Cash Investments at Value & Cost.................. -- 26,001 1,351 83,934 Temporary Cash.............................................. 33,199 -- -- -- Collateral Received from Securities on Loan at Value & Cost....................................................... 678 -- -- -- Collateral from Securities on Loan Invested in Affiliate at Value & Cost............................................... 155,000 -- -- -- Receivables: Interest.................................................. 14,605 2 9,365 20,818 Securities Lending Income................................. 16 -- -- -- Fund Shares Sold.......................................... 15,707 20,019 1,840 1,701 From Advisor.............................................. -- 64 -- -- Prepaid Expenses and Other Assets........................... 20 49 50 43 ------------ ------------ ------------ ------------ Total Assets........................................... 1,572,973 1,469,226 2,603,464 1,839,392 ------------ ------------ ------------ ------------ LIABILITIES: Payables: Upon Return of Securities Loaned.......................... 155,678 -- -- -- Investment Securities Purchased........................... 25,324 25,642 -- 56,337 Fund Shares Redeemed...................................... 266 1,214 10,211 1,886 Due to Advisor............................................ 161 -- 223 300 Unrealized Loss on Forward Currency Contracts............... 13 -- -- -- Accrued Expenses and Other Liabilities...................... 137 101 259 170 ------------ ------------ ------------ ------------ Total Liabilities...................................... 181,579 26,957 10,693 58,693 ------------ ------------ ------------ ------------ NET ASSETS.................................................. $ 1,391,394 $ 1,442,269 $ 2,592,771 $ 1,780,699 ============ ============ ============ ============ Institutional Class Shares -- based on net assets of $1,391,394; $1,442,269; $2,592,771 and $1,780,699 and shares outstanding of 132,510,679; 136,485,809; 219,018,911 and 174,061,874, respectively.................. $ 10.50 $ 10.57 $ 11.84 $ 10.23 ============ ============ ============ ============ NUMBER OF SHARES AUTHORIZED................................. 300,000,000 200,000,000 500,000,000 500,000,000 ============ ============ ============ ============ Investments in Affiliated Investment Companies at Cost...... $ -- $ 1,442,974 $ -- $ -- ------------ ------------ ------------ ------------ Investments at Cost......................................... $ 1,366,324 $ -- $ 2,508,077 $ 1,718,217 ============ ============ ============ ============ NET ASSETS CONSIST OF: Paid-In Capital............................................. $ 1,401,384 $ 1,459,829 $ 2,510,488 $ 1,764,920 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)........................... 2,622 2,170 4,136 1,166 Accumulated Net Realized Gain (Loss)........................ (28) 153 (4,634) (66) Net Unrealized Foreign Exchange Gain (Loss)................. (8) -- -- -- Net Unrealized Appreciation (Depreciation).................. (12,576) (19,883) 82,781 14,679 ------------ ------------ ------------ ------------ NET ASSETS.................................................. $ 1,391,394 $ 1,442,269 $ 2,592,771 $ 1,780,699 ============ ============ ============ ============ See accompanying Notes to Financial Statements. 89 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS) DFA INTERMEDIATE- DFA CALIFORNIA TERM DFA CALIFORNIA INTERMEDIATE- MUNICIPAL SHORT-TERM TERM BOND MUNICIPAL MUNICIPAL PORTFOLIO BOND PORTFOLIO BOND PORTFOLIO ------------- -------------- -------------- ASSETS: Investments at Value........................................................ $ 262,371 $ 503,033 $ 94,567 Temporary Cash Investments at Value & Cost.................................. 8,307 12,835 1,479 Receivables: Interest.................................................................. 2,941 6,079 966 Fund Shares Sold.......................................................... 766 569 200 Prepaid Expenses and Other Assets........................................... 22 6 11 ------------ ------------ ------------ Total Assets........................................................... 274,407 522,522 97,223 ------------ ------------ ------------ LIABILITIES: Payables: Investment Securities Purchased........................................... 4,804 1,225 -- Fund Shares Redeemed...................................................... 40 68 -- Due to Advisor............................................................ 17 86 12 Accrued Expenses and Other Liabilities...................................... 32 53 12 ------------ ------------ ------------ Total Liabilities...................................................... 4,893 1,432 24 ------------ ------------ ------------ NET ASSETS.................................................................. $ 269,514 $ 521,090 $ 97,199 ============ ============ ============ Institutional Class Shares -- based on net assets of $269,514; $521,090 and $97,199 and shares outstanding of 27,383,940; 50,564,026 and 9,565,948, respectively............................................................... $ 9.84 $ 10.31 $ 10.16 ============ ============ ============ NUMBER OF SHARES AUTHORIZED................................................. 100,000,000 300,000,000 100,000,000 ============ ============ ============ Investments at Cost......................................................... $ 263,792 $ 499,100 $ 94,896 ============ ============ ============ NET ASSETS CONSIST OF: Paid-In Capital............................................................. $ 270,596 $ 516,807 $ 97,511 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)......................................................... 351 358 129 Accumulated Net Realized Gain (Loss)........................................ (12) (8) (112) Net Unrealized Appreciation (Depreciation).................................. (1,421) 3,933 (329) ------------ ------------ ------------ NET ASSETS.................................................................. $ 269,514 $ 521,090 $ 97,199 ============ ============ ============ See accompanying Notes to Financial Statements. 90 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS) DFA SELECTIVELY DFA SHORT- DFA ONE-YEAR DFA TWO-YEAR HEDGED GLOBAL TERM FIXED INCOME GLOBAL FIXED FIXED INCOME GOVERNMENT PORTFOLIO INCOME PORTFOLIO PORTFOLIO PORTFOLIO ------------ ---------------- ------------- ---------- INVESTMENT INCOME Interest.............................................. $43,505 $ 35,056 $ 16,707 $ 16,177 Income from Securities Lending........................ 104 149 -- -- ------- -------- -------- -------- Total Investment Income............................ 43,609 35,205 16,707 16,177 ------- -------- -------- -------- EXPENSES Investment Advisory Services Fees..................... 3,974 2,467 1,399 2,843 Administrative Services Fees.......................... 7,959 4,942 -- -- Accounting & Transfer Agent Fees...................... 617 382 83 138 Custodian Fees........................................ 166 354 42 12 Filing Fees........................................... 291 193 52 78 Shareholders' Reports................................. 169 150 24 45 Directors'/Trustees' Fees & Expenses.................. 86 53 10 18 Professional Fees..................................... 237 139 27 49 Other................................................. 148 102 18 30 ------- -------- -------- -------- Total Expenses..................................... 13,647 8,782 1,655 3,213 ------- -------- -------- -------- Fees Paid Indirectly.................................. -- (68) (11) -- ------- -------- -------- -------- Net Expenses.......................................... 13,647 8,714 1,644 3,213 ------- -------- -------- -------- NET INVESTMENT INCOME (LOSS).......................... 29,962 26,491 15,063 12,964 ------- -------- -------- -------- REALIZED AND UNREALIZED GAIN (LOSS) Net Realized Gain (Loss) on: Investment Securities Sold.......................... 7,207 85,746 (1,684) 3,808 Foreign Currency Transactions....................... -- (84,623) (3,286) -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.......... (5,937) (13,289) (8,484) (15,692) Translation of Foreign Currency Denominated Amounts............................................ -- 9,862 2,566 -- ------- -------- -------- -------- NET REALIZED AND UNREALIZED GAIN (LOSS)............... 1,270 (2,304) (10,888) (11,884) ------- -------- -------- -------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS............................................. $31,232 $ 24,187 $ 4,175 $ 1,080 ======= ======== ======== ======== See accompanying Notes to Financial Statements. 91 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS) DFA WORLD EX DFA DFA FIVE-YEAR U.S. INTERMEDIATE DFA SHORT- GLOBAL GOVERNMENT GOVERNMENT TERM EXTENDED FIXED INCOME FIXED INCOME FIXED INCOME QUALITY PORTFOLIO PORTFOLIO PORTFOLIO PORTFOLIO ------------- ------------ ------------ ------------- INVESTMENT INCOME Interest............................................... $ 93,271 $ 3,306 $ 87,461 $ 40,728 Income from Securities Lending......................... 745 -- -- 258 --------- ------- --------- -------- Total Investment Income............................. 94,016 3,306 87,461 40,986 --------- ------- --------- -------- EXPENSES Investment Advisory Services Fees...................... 17,765 346 3,411 4,609 Accounting & Transfer Agent Fees....................... 545 25 268 184 Custodian Fees......................................... 363 19 33 55 Filing Fees............................................ 354 32 150 131 Shareholders' Reports.................................. 216 4 92 47 Directors'/Trustees' Fees & Expenses................... 76 2 37 24 Professional Fees...................................... 214 6 101 72 Organizational & Offering Costs........................ -- 6 -- -- Other.................................................. 122 5 57 53 --------- ------- --------- -------- Total Expenses...................................... 19,655 445 4,149 5,175 --------- ------- --------- -------- Fees (Waived), Expenses Reimbursed, and/or Previously Waived Fees Recovered by Advisor (Note C)............. -- (61) -- (107) Fees Paid Indirectly................................... (78) (4) -- (36) --------- ------- --------- -------- Net Expenses........................................... 19,577 380 4,149 5,032 --------- ------- --------- -------- NET INVESTMENT INCOME (LOSS)........................... 74,439 2,926 83,312 35,954 --------- ------- --------- -------- REALIZED AND UNREALIZED GAIN (LOSS) Net Realized Gain (Loss) on: Investment Securities Sold........................... 174,388 291 (235) 6,708 Foreign Currency Transactions........................ (88,319) 1,424 -- (6,214) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency........... (133,678) (3,992) (159,790) (21,792) Translation of Foreign Currency Denominated Amounts............................................. 21,190 (441) -- 3,192 --------- ------- --------- -------- NET REALIZED AND UNREALIZED GAIN (LOSS)................ (26,419) (2,718) (160,025) (18,106) --------- ------- --------- -------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS.............................................. $ 48,020 $ 208 $ (76,713) $ 17,848 ========= ======= ========= ======== See accompanying Notes to Financial Statements. 92 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS) DFA INTERMEDIATE- DFA INFLATION- DFA SHORT- TERM EXTENDED DFA PROTECTED TERM QUALITY INVESTMENT SECURITIES MUNICIPAL PORTFOLIO GRADE PORTFOLIO PORTFOLIO BOND PORTFOLIO ------------- --------------- -------------- -------------- INVESTMENT INCOME Income Distributions Received from Affiliated Investment Companies................................................ -- $ 26,016 -- -- Interest.................................................. $ 33,285 6 $ 47,474 $19,672 Income from Securities Lending............................ 209 -- -- -- -------- -------- --------- ------- Total Investment Income................................ 33,494 26,022 47,474 19,672 -------- -------- --------- ------- EXPENSES Investment Advisory Services Fees......................... 2,167 2,239 2,643 3,283 Accounting & Transfer Agent Fees.......................... 92 36 212 134 Custodian Fees............................................ 21 1 26 17 Filing Fees............................................... 99 109 126 79 Shareholders' Reports..................................... 16 32 82 34 Directors'/Trustees' Fees & Expenses...................... 11 12 29 18 Professional Fees......................................... 34 16 86 47 Other..................................................... 16 12 47 31 -------- -------- --------- ------- Total Expenses......................................... 2,456 2,457 3,251 3,643 -------- -------- --------- ------- Fees (Waived), Expenses Reimbursed, and/or Previously Waived Fees Recovered by Advisor (Note C)................ (80) (2,072) -- -- Fees Paid Indirectly...................................... (9) -- -- -- -------- -------- --------- ------- Net Expenses.............................................. 2,367 385 3,251 3,643 -------- -------- --------- ------- NET INVESTMENT INCOME (LOSS).............................. 31,127 25,637 44,223 16,029 -------- -------- --------- ------- REALIZED AND UNREALIZED GAIN (LOSS) Capital Gain Distributions Received from Affiliated Investment Securities.................................... -- 1,855 -- -- Net Realized Gain (Loss) on: Investment Securities Sold.............................. 84 (1,671) (4,633) (2) Foreign Currency Transactions........................... (1,239) -- -- -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities................................... (56,416) (43,409) (225,943) (8,310) Translation of Foreign Currency Denominated Amounts................................................ 603 -- -- -- -------- -------- --------- ------- NET REALIZED AND UNREALIZED GAIN (LOSS)................... (56,968) (43,225) (230,576) (8,312) -------- -------- --------- ------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS................................................. $(25,841) $(17,588) $(186,353) $ 7,717 ======== ======== ========= ======= See accompanying Notes to Financial Statements. 93 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS) DFA INTERMEDIATE- DFA CALIFORNIA TERM DFA CALIFORNIA INTERMEDIATE- MUNICIPAL SHORT-TERM TERM BOND MUNICIPAL MUNICIPAL PORTFOLIO BOND PORTFOLIO BOND PORTFOLIO ------------- -------------- -------------- INVESTMENT INCOME Interest........................................................... $ 2,558 $ 5,333 $ 1,503 ------- ------- ------- Total Investment Income......................................... 2,558 5,333 1,503 ------- ------- ------- EXPENSES Investment Advisory Services Fees.................................. 322 889 177 Accounting & Transfer Agent Fees................................... 20 43 16 Custodian Fees..................................................... 2 6 2 Filing Fees........................................................ 47 33 22 Shareholders' Reports.............................................. 3 7 1 Directors'/Trustees' Fees & Expenses............................... 1 5 1 Professional Fees.................................................. 4 13 3 Organizational & Offering Costs.................................... 12 -- 4 Other.............................................................. 2 8 2 ------- ------- ------- Total Expenses.................................................. 413 1,004 228 ------- ------- ------- Fees (Waived), Expenses Reimbursed, and/or Previously Waived Fees Recovered by Advisor (Note C)..................................... (44) -- (25) ------- ------- ------- Net Expenses....................................................... 369 1,004 203 ------- ------- ------- NET INVESTMENT INCOME (LOSS)....................................... 2,189 4,329 1,300 ------- ------- ------- REALIZED AND UNREALIZED GAIN (LOSS) Net Realized Gain (Loss) on: Investment Securities Sold......................................... (10) (4) (112) Change in Unrealized Appreciation (Depreciation) of: Investment Securities.............................................. (2,094) (1,033) (1,195) ------- ------- ------- NET REALIZED AND UNREALIZED GAIN (LOSS)............................ (2,104) (1,037) (1,307) ------- ------- ------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS...... $ 85 $ 3,292 $ (7) ======= ======= ======= See accompanying Notes to Financial Statements. 94 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (AMOUNTS IN THOUSANDS) DFA SELECTIVELY HEDGED DFA ONE-YEAR FIXED INCOME DFA TWO-YEAR GLOBAL FIXED GLOBAL FIXED INCOME PORTFOLIO INCOME PORTFOLIO PORTFOLIO ------------------------ ------------------------ -------------------- YEAR YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2013 2012 2013 2012 ----------- ----------- ----------- ----------- --------- --------- INCREASE (DECREASE) IN NET ASSETS Operations: Net Investment Income (Loss)........ $ 29,962 $ 37,581 $ 26,491 $ 31,974 $ 15,063 $ 13,235 Net Realized Gain (Loss) on: Investment Securities Sold......... 7,207 15,994 85,746 13,614 (1,684) 1,503 Foreign Currency Transactions...... -- -- (84,623) 21,927 (3,286) 8,830 Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.................. (5,937) 2,569 (13,289) (29,706) (8,484) (11,350) Translation of Foreign Currency Denominated Amounts............... -- -- 9,862 899 2,566 (2,392) ----------- ----------- ----------- ----------- --------- --------- Net Increase (Decrease) in Net Assets Resulting from Operations....................... 31,232 56,144 24,187 38,708 4,175 9,826 ----------- ----------- ----------- ----------- --------- --------- Distributions From: Net Investment Income: Institutional Class Shares......... (31,268) (37,610) (45,496) (74,072) (20,638) (25,204) Net Short-Term Gains: Institutional Class Shares......... (9,466) (2,033) (9,165) (8,849) (583) (513) Net Long-Term Gains: Institutional Class Shares......... (7,281) (16,267) (1,375) (3,260) -- (439) ----------- ----------- ----------- ----------- --------- --------- Total Distributions............... (48,015) (55,910) (56,036) (86,181) (21,221) (26,156) ----------- ----------- ----------- ----------- --------- --------- Capital Share Transactions (1): Shares Issued....................... 4,613,151 2,912,140 2,087,897 1,130,692 331,473 228,379 Shares Issued in Lieu of Cash Distributions...................... 45,136 53,146 52,403 81,533 19,987 24,319 Shares Redeemed..................... (3,646,057) (2,776,724) (1,227,346) (1,307,370) (212,530) (159,882) ----------- ----------- ----------- ----------- --------- --------- Net Increase (Decrease) from Capital Share Transactions..................... 1,012,230 188,562 912,954 (95,145) 138,930 92,816 ----------- ----------- ----------- ----------- --------- --------- Total Increase (Decrease) in Net Assets....................... 995,447 188,796 881,105 (142,618) 121,884 76,486 NET ASSETS Beginning of Year................... 7,094,264 6,905,468 4,671,093 4,813,711 863,403 786,917 ----------- ----------- ----------- ----------- --------- --------- End of Year......................... $ 8,089,711 $ 7,094,264 $ 5,552,198 $ 4,671,093 $ 985,287 $ 863,403 =========== =========== =========== =========== ========= ========= (1) SHARES ISSUED AND REDEEMED: Shares Issued....................... 446,607 281,813 207,694 111,684 32,512 22,202 Shares Issued in Lieu of Cash Distributions...................... 4,372 5,149 5,219 8,084 1,950 2,420 Shares Redeemed..................... (353,107) (268,649) (122,010) (129,111) (20,912) (15,597) ----------- ----------- ----------- ----------- --------- --------- Net Increase (Decrease) from Shares Issued and Redeemed......................... 97,872 18,313 90,903 (9,343) 13,550 9,025 =========== =========== =========== =========== ========= ========= UNDISTRIBUTED NET INVESTMENT INCOME (DISTRIBUTIONS IN EXCESS OF NET INVESTMENT INCOME)............ $ 1,422 $ 2,728 $ 27,488 $ 51,283 $ 9,492 $ 21,455 DFA SHORT-TERM GOVERNMENT PORTFOLIO ---------------------- YEAR YEAR ENDED ENDED OCT. 31, OCT. 31, 2013 2012 ---------- ---------- INCREASE (DECREASE) IN NET ASSETS Operations: Net Investment Income (Loss)........ $ 12,964 $ 14,184 Net Realized Gain (Loss) on: Investment Securities Sold......... 3,808 13,489 Foreign Currency Transactions...... -- -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.................. (15,692) (1,388) Translation of Foreign Currency Denominated Amounts............... -- -- ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations....................... 1,080 26,285 ---------- ---------- Distributions From: Net Investment Income: Institutional Class Shares......... (13,092) (14,766) Net Short-Term Gains: Institutional Class Shares......... (438) (3,433) Net Long-Term Gains: Institutional Class Shares......... (13,008) (21,214) ---------- ---------- Total Distributions............... (26,538) (39,413) ---------- ---------- Capital Share Transactions (1): Shares Issued....................... 581,715 571,888 Shares Issued in Lieu of Cash Distributions...................... 24,196 36,034 Shares Redeemed..................... (385,547) (353,113) ---------- ---------- Net Increase (Decrease) from Capital Share Transactions..................... 220,364 254,809 ---------- ---------- Total Increase (Decrease) in Net Assets....................... 194,906 241,681 NET ASSETS Beginning of Year................... 1,585,670 1,343,989 ---------- ---------- End of Year......................... $1,780,576 $1,585,670 ========== ========== (1) SHARES ISSUED AND REDEEMED: Shares Issued....................... 54,179 52,705 Shares Issued in Lieu of Cash Distributions...................... 2,252 3,336 Shares Redeemed..................... (35,890) (32,542) ---------- ---------- Net Increase (Decrease) from Shares Issued and Redeemed......................... 20,541 23,499 ========== ========== UNDISTRIBUTED NET INVESTMENT INCOME (DISTRIBUTIONS IN EXCESS OF NET INVESTMENT INCOME)............ $ 1,930 $ 2,058 See accompanying Notes to Financial Statements. 95 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (AMOUNTS IN THOUSANDS) DFA WORLD EX U.S. DFA INTERMEDIATE DFA FIVE-YEAR GLOBAL FIXED GOVERNMENT FIXED INCOME GOVERNMENT FIXED INCOME INCOME PORTFOLIO PORTFOLIO PORTFOLIO ------------------------ ---------------------- ---------------------- PERIOD DEC. 6, YEAR YEAR YEAR 2011(A) YEAR YEAR ENDED ENDED ENDED TO ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2013 2012 2013 2012 ----------- ----------- -------- -------- ---------- ---------- INCREASE (DECREASE) IN NET ASSETS Operations: Net Investment Income (Loss)........................ $ 74,439 $ 93,204 $ 2,926 $ 1,303 $ 83,312 $ 77,408 Net Realized Gain (Loss) on: Investment Securities Sold......................... 174,388 78,556 291 1,424 (235) 5,478 Foreign Currency Transactions................. (88,319) (17,460) 1,424 2,454 -- -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency............. (133,678) 53,334 (3,992) 1,677 (159,790) 61,867 Translation of Foreign Currency Denominated Amounts...................... 21,190 5,640 (441) (1,663) -- -- ----------- ----------- -------- -------- ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations............. 48,020 213,274 208 5,195 (76,713) 144,753 ----------- ----------- -------- -------- ---------- ---------- Distributions From: Net Investment Income: Institutional Class Shares.... (62,976) (116,723) (2,781) (837) (82,551) (76,441) Net Short-Term Gains: Institutional Class Shares.... (17,590) (22,708) (1,462) -- -- (942) Net Long-Term Gains: Institutional Class Shares.... (42,555) (76,000) -- -- (5,467) (16,580) ----------- ----------- -------- -------- ---------- ---------- Total Distributions.......... (123,121) (215,431) (4,243) (837) (88,018) (93,963) ----------- ----------- -------- -------- ---------- ---------- Capital Share Transactions (1): Shares Issued.................. 2,830,554 1,967,127 125,701 140,825 1,287,392 1,014,034 Shares Issued in Lieu of Cash Distributions................. 113,315 198,001 4,201 829 83,643 89,228 Shares Redeemed................ (1,358,544) (1,006,334) (26,371) (4,775) (599,390) (472,408) ----------- ----------- -------- -------- ---------- ---------- Net Increase (Decrease) from Capital Share Transactions................ 1,585,325 1,158,794 103,531 136,879 771,645 630,854 ----------- ----------- -------- -------- ---------- ---------- Total Increase (Decrease) in Net Assets............... 1,510,224 1,156,637 99,496 141,237 606,914 681,644 NET ASSETS Beginning of Period............ 6,341,337 5,184,700 141,237 -- 3,058,924 2,377,280 ----------- ----------- -------- -------- ---------- ---------- End of Period.................. $ 7,851,561 $ 6,341,337 $240,733 $141,237 $3,665,838 $3,058,924 =========== =========== ======== ======== ========== ========== (1) SHARES ISSUED AND REDEEMED: Shares Issued.................. 254,486 176,701 12,118 13,757 100,692 78,073 Shares Issued in Lieu of Cash Distributions................. 10,173 18,043 404 79 6,574 6,900 Shares Redeemed................ (122,270) (90,480) (2,551) (460) (47,391) (36,361) ----------- ----------- -------- -------- ---------- ---------- Net Increase (Decrease) from Shares Issued and Redeemed.................... 142,389 104,264 9,971 13,376 59,875 48,612 =========== =========== ======== ======== ========== ========== UNDISTRIBUTED NET INVESTMENT INCOME (DISTRIBUTIONS IN EXCESS OF NET INVESTMENT INCOME)......................... $ 37,452 $ 49,430 $ 4,696 $ 2,902 $ 13,730 $ 13,139 DFA SHORT-TERM EXTENDED QUALITY PORTFOLIO ---------------------- YEAR YEAR ENDED ENDED OCT. 31, OCT. 31, 2013 2012 ---------- ---------- INCREASE (DECREASE) IN NET ASSETS Operations: Net Investment Income (Loss)........................ $ 35,954 $ 32,006 Net Realized Gain (Loss) on: Investment Securities Sold......................... 6,708 4,476 Foreign Currency Transactions................. (6,214) 2,234 Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency............. (21,792) 16,552 Translation of Foreign Currency Denominated Amounts...................... 3,192 (1,944) ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations............. 17,848 53,324 ---------- ---------- Distributions From: Net Investment Income: Institutional Class Shares.... (37,553) (29,793) Net Short-Term Gains: Institutional Class Shares.... -- -- Net Long-Term Gains: Institutional Class Shares.... (4,387) (2,632) ---------- ---------- Total Distributions.......... (41,940) (32,425) ---------- ---------- Capital Share Transactions (1): Shares Issued.................. 1,231,684 912,977 Shares Issued in Lieu of Cash Distributions................. 41,038 31,594 Shares Redeemed................ (591,648) (323,570) ---------- ---------- Net Increase (Decrease) from Capital Share Transactions................ 681,074 621,001 ---------- ---------- Total Increase (Decrease) in Net Assets............... 656,982 641,900 NET ASSETS Beginning of Period............ 1,975,102 1,333,202 ---------- ---------- End of Period.................. $2,632,084 $1,975,102 ========== ========== (1) SHARES ISSUED AND REDEEMED: Shares Issued.................. 113,382 83,958 Shares Issued in Lieu of Cash Distributions................. 3,773 2,912 Shares Redeemed................ (54,562) (29,785) ---------- ---------- Net Increase (Decrease) from Shares Issued and Redeemed.................... 62,593 57,085 ========== ========== UNDISTRIBUTED NET INVESTMENT INCOME (DISTRIBUTIONS IN EXCESS OF NET INVESTMENT INCOME)......................... $ 609 $ 6,697 ---------- See page 1 & 2 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 96 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (AMOUNTS IN THOUSANDS) DFA INTERMEDIATE-TERM EXTENDED QUALITY DFA INVESTMENT GRADE DFA INFLATION-PROTECTED PORTFOLIO PORTFOLIO SECURITIES PORTFOLIO -------------------- -------------------- ---------------------- YEAR YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2013 2012 2013 2012 ---------- -------- ---------- -------- ---------- ---------- INCREASE (DECREASE) IN NET ASSETS Operations: Net Investment Income (Loss)......... $ 31,127 $ 17,251 $ 25,637 $ 12,771 $ 44,223 $ 45,841 Capital Gain Distributions Received from Affiliated Investment Companies........................... -- -- 1,855 926 -- -- Net Realized Gain (Loss) on: Investment Securities Sold.......... 84 780 (1,671) -- (4,633) 14,745 Foreign Currency Transactions....... (1,239) 462 -- -- -- -- Change in Unrealized Appreciation (Depreciation) of: Affiliated Investment Companies Shares............................. (56,416) 35,247 (43,409) 20,181 (225,943) 120,605 Translation of Foreign Currency Denominated Amounts................ 603 (611) -- -- -- -- ---------- -------- ---------- -------- ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations........................ (25,841) 53,129 (17,588) 33,878 (186,353) 181,191 ---------- -------- ---------- -------- ---------- ---------- Distributions From: Net Investment Income: Institutional Class Shares.......... (30,139) (15,556) (24,183) (12,259) (50,644) (44,146) Net Short-Term Gains: Institutional Class Shares.......... -- -- (22) (87) (789) (1,396) Net Long-Term Gains: Institutional Class Shares.......... (565) -- (867) -- (13,997) (19,542) ---------- -------- ---------- -------- ---------- ---------- Total Distributions................ (30,704) (15,556) (25,072) (12,346) (65,430) (65,084) ---------- -------- ---------- -------- ---------- ---------- Capital Share Transactions (1): Shares Issued........................ 780,881 522,015 859,582 749,349 1,173,461 966,982 Shares Issued in Lieu of Cash Distributions....................... 30,374 15,354 24,433 11,911 61,493 60,670 Shares Redeemed...................... (191,586) (54,252) (298,249) (83,283) (901,651) (520,553) ---------- -------- ---------- -------- ---------- ---------- Net Increase (Decrease) from Capital Share Transactions...................... 619,669 483,117 585,766 677,977 333,303 507,099 ---------- -------- ---------- -------- ---------- ---------- Total Increase (Decrease) in Net Assets........................ 563,124 520,690 543,106 699,509 81,520 623,206 NET ASSETS Beginning of Year.................... 828,270 307,580 899,163 199,654 2,511,251 1,888,045 ---------- -------- ---------- -------- ---------- ---------- End of Year.......................... $1,391,394 $828,270 $1,442,269 $899,163 $2,592,771 $2,511,251 ========== ======== ========== ======== ========== ========== (1) SHARES ISSUED AND REDEEMED: Shares Issued........................ 73,136 48,834 80,350 69,589 95,165 76,847 Shares Issued in Lieu of Cash Distributions....................... 2,837 1,433 2,298 1,107 4,946 4,893 Shares Redeemed...................... (18,069) (5,056) (27,973) (7,712) (74,201) (41,541) ---------- -------- ---------- -------- ---------- ---------- Net Increase (Decrease) from Shares Issued and Redeemed.......................... 57,904 45,211 54,675 62,984 25,910 40,199 ========== ======== ========== ======== ========== ========== UNDISTRIBUTED NET INVESTMENT INCOME (DISTRIBUTIONS IN EXCESS OF NET INVESTMENT INCOME)............. $ 2,622 $ 2,873 $ 2,170 $ 716 $ 4,136 $ 10,693 DFA SHORT-TERM MUNICIPAL BOND PORTFOLIO ---------------------- YEAR YEAR ENDED ENDED OCT. 31, OCT. 31, 2013 2012 ---------- ---------- INCREASE (DECREASE) IN NET ASSETS Operations: Net Investment Income (Loss)......... $ 16,029 $ 21,307 Capital Gain Distributions Received from Affiliated Investment Companies........................... -- -- Net Realized Gain (Loss) on: Investment Securities Sold.......... (2) (61) Foreign Currency Transactions....... -- -- Change in Unrealized Appreciation (Depreciation) of: Affiliated Investment Companies Shares............................. (8,310) (1,022) Translation of Foreign Currency Denominated Amounts................ -- -- ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations........................ 7,717 20,224 ---------- ---------- Distributions From: Net Investment Income: Institutional Class Shares.......... (16,375) (21,494) Net Short-Term Gains: Institutional Class Shares.......... -- -- Net Long-Term Gains: Institutional Class Shares.......... -- -- ---------- ---------- Total Distributions................ (16,375) (21,494) ---------- ---------- Capital Share Transactions (1): Shares Issued........................ 696,633 427,474 Shares Issued in Lieu of Cash Distributions....................... 15,678 20,521 Shares Redeemed...................... (505,250) (389,468) ---------- ---------- Net Increase (Decrease) from Capital Share Transactions...................... 207,061 58,527 ---------- ---------- Total Increase (Decrease) in Net Assets........................ 198,403 57,257 NET ASSETS Beginning of Year.................... 1,582,296 1,525,039 ---------- ---------- End of Year.......................... $1,780,699 $1,582,296 ========== ========== (1) SHARES ISSUED AND REDEEMED: Shares Issued........................ 68,051 41,449 Shares Issued in Lieu of Cash Distributions....................... 1,531 1,991 Shares Redeemed...................... (49,325) (37,763) ---------- ---------- Net Increase (Decrease) from Shares Issued and Redeemed.......................... 20,257 5,677 ========== ========== UNDISTRIBUTED NET INVESTMENT INCOME (DISTRIBUTIONS IN EXCESS OF NET INVESTMENT INCOME)............. $ 1,166 $ 1,512 See accompanying Notes to Financial Statements. 97 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (AMOUNTS IN THOUSANDS) DFA CALIFORNIA DFA INTERMEDIATE-TERM DFA CALIFORNIA SHORT-TERM INTERMEDIATE-TERM MUNICIPAL BOND PORTFOLIO MUNICIPAL BOND PORTFOLIO MUNICIPAL BOND PORTFOLIO ----------------------- ------------------------ ----------------------- PERIOD PERIOD MARCH 1, NOV. 29, YEAR 2012 (A) YEAR YEAR YEAR 2011 (A) ENDED TO ENDED ENDED ENDED TO OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2013 2012 2013 2012 -------- -------- --------- -------- -------- -------- INCREASE (DECREASE) IN NET ASSETS Operations: Net Investment Income (Loss).......................... $ 2,189 $ 451 $ 4,329 $ 5,064 $ 1,300 $ 546 Net Realized Gain (Loss) on: Investment Securities Sold.......................... (10) (2) (4) -- (112) -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities............................... (2,094) 673 (1,033) 263 (1,195) 866 -------- ------- --------- -------- -------- ------- Net Increase (Decrease) in Net Assets Resulting from Operations......................... 85 1,122 3,292 5,327 (7) 1,412 -------- ------- --------- -------- -------- ------- Distributions From: Net Investment Income:................................ Institutional Class Shares............................ (1,943) (362) (4,312) (4,994) (1,248) (471) -------- ------- --------- -------- -------- ------- Total Distributions................................ (1,943) (362) (4,312) (4,994) (1,248) (471) -------- ------- --------- -------- -------- ------- Capital Share Transactions (1): Shares Issued......................................... 225,138 96,721 239,116 152,061 56,106 60,943 Shares Issued in Lieu of Cash Distributions........... 1,866 351 4,217 4,860 1,215 446 Shares Redeemed....................................... (45,131) (8,333) (116,364) (79,935) (17,519) (3,678) -------- ------- --------- -------- -------- ------- Net Increase (Decrease) from Capital Share Transactions...................................... 181,873 88,739 126,969 76,986 39,802 57,711 -------- ------- --------- -------- -------- ------- Total Increase (Decrease) in Net Assets............ 180,015 89,499 125,949 77,319 38,547 58,652 NET ASSETS Beginning of Period................................... 89,499 -- 395,141 317,822 58,652 -- -------- ------- --------- -------- -------- ------- End of Period......................................... $269,514 $89,499 $ 521,090 $395,141 $ 97,199 $58,652 ======== ======= ========= ======== ======== ======= (1) SHARES ISSUED AND REDEEMED: Shares Issued......................................... 22,910 9,699 23,229 14,684 5,474 6,009 Shares Issued in Lieu of Cash Distributions........... 189 35 410 470 119 44 Shares Redeemed....................................... (4,616) (833) (11,295) (7,721) (1,720) (360) -------- ------- --------- -------- -------- ------- Net Increase (Decrease) from Shares Issued and Redeemed...................................... 18,483 8,901 12,344 7,433 3,873 5,693 ======== ======= ========= ======== ======== ======= UNDISTRIBUTED NET INVESTMENT INCOME (DISTRIBUTIONS IN EXCESS OF NET INVESTMENT INCOME)................................................ $ 351 $ 105 $ 358 $ 341 $ 129 $ 77 ---------- See page 1 & 2 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 98 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) DFA ONE-YEAR FIXED INCOME PORTFOLIO ---------------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 ---------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 10.35 $ 10.35 $ 10.38 $ 10.33 $ 10.17 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.04 0.05 0.06 0.07 0.13 Net Gains (Losses) on Securities (Realized and Unrealized)............................................... -- 0.03 -- 0.05 0.25 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations.......................... 0.04 0.08 0.06 0.12 0.38 ---------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.04) (0.05) (0.06) (0.07) (0.22) Net Realized Gains......................................... (0.02) (0.03) (0.03) -- -- ---------- ---------- ---------- ---------- ---------- Total Distributions....................................... (0.06) (0.08) (0.09) (0.07) (0.22) ---------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 10.33 $ 10.35 $ 10.35 $ 10.38 $ 10.33 ============================================================= ========== ========== ========== ========== ========== Total Return................................................. 0.43% 0.79% 0.57% 1.19% 3.80% ---------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $8,089,711 $7,094,264 $6,905,468 $5,754,601 $4,269,615 Ratio of Expenses to Average Net Assets...................... 0.17% 0.17% 0.17% 0.17% 0.20%** Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly)................................................. 0.17% 0.17% 0.17% 0.17% 0.20%** Ratio of Net Investment Income to Average Net Assets......... 0.38% 0.52% 0.55% 0.67% 1.26% Portfolio Turnover Rate...................................... 62% 77% 78% 66% 2%* ---------------------------------------------------------------------------------------------------------------------------- DFA TWO-YEAR GLOBAL FIXED INCOME PORTFOLIO ---------------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 10.13 $ 10.23 $ 10.24 $ 10.27 $ 10.36 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.05 0.07 0.10 0.12 0.19 Net Gains (Losses) on Securities (Realized and Unrealized)............................................... -- 0.02 (0.01) 0.07 0.18 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations.......................... 0.05 0.09 0.09 0.19 0.37 --------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.10) (0.16) (0.03) (0.21) (0.46) Net Realized Gains......................................... (0.02) (0.03) (0.07) (0.01) -- ---------- ---------- ---------- ---------- ---------- Total Distributions....................................... (0.12) (0.19) (0.10) (0.22) (0.46) --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 10.06 $ 10.13 $ 10.23 $ 10.24 $ 10.27 ============================================================= ========== ========== ========== ========== ========== Total Return................................................. 0.51% 0.85% 0.83% 1.83% 3.71% --------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $5,552,198 $4,671,093 $4,813,711 $4,053,423 $3,846,029 Ratio of Expenses to Average Net Assets...................... 0.18% 0.18% 0.18% 0.18% 0.20%** Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly)................................................. 0.18% 0.18% 0.18% 0.18% 0.20%** Ratio of Net Investment Income to Average Net Assets......... 0.54% 0.68% 0.94% 1.13% 1.89% Portfolio Turnover Rate...................................... 123% 107% 71% 109% 1%* --------------------------------------------------------------------------------------------------------------------------- See page 1 & 2 for the Definitions of Abbreviations and Footnotes. * For the period October 24, 2009 through October 31, 2009. Effective October 24, 2009, the Portfolios directly invest in securities rather than through the Series. **Represents the combined ratios for the respective portfolios and for the period November 1, 2008 through October 22, 2009, its respective pro-rata shares of its Master Fund Series. See accompanying Notes to Financial Statements. 99 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) DFA SELECTIVELY HEDGED GLOBAL FIXED INCOME PORTFOLIO ------------------------------------------------ ------------ YEAR YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 2013 -------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 10.41 $ 10.65 $ 10.40 $ 10.00 $ 8.91 $ 10.88 -------- -------- -------- -------- -------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.17 0.17 0.20 0.19 0.26 0.08 Net Gains (Losses) on Securities (Realized and Unrealized). (0.11) (0.06) 0.19 0.22 0.83 (0.08) -------- -------- -------- -------- -------- ---------- Total from Investment Operations.......................... 0.06 0.11 0.39 0.41 1.09 -- -------------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.25) (0.34) (0.11) -- -- (0.09) Net Realized Gains......................................... (0.01) (0.01) (0.03) (0.01) -- (0.09) -------- -------- -------- -------- -------- ---------- Total Distributions....................................... (0.26) (0.35) (0.14) (0.01) -- (0.18) -------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 10.21 $ 10.41 $ 10.65 $ 10.40 $ 10.00 $ 10.70 ============================================================= ======== ======== ======== ======== ======== ========== Total Return................................................. 0.52% 1.22% 3.85% 4.08% 12.23% (0.03)% -------------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $985,287 $863,403 $786,917 $524,375 $303,440 $1,780,576 Ratio of Expenses to Average Net Assets...................... 0.18% 0.19% 0.19% 0.20% 0.24% 0.19% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly)................................................. 0.18% 0.19% 0.19% 0.20% 0.24% 0.19% Ratio of Net Investment Income to Average Net Assets......... 1.62% 1.65% 1.89% 1.84% 2.81% 0.78% Portfolio Turnover Rate...................................... 99% 109% 51% 78% 28% 37% -------------------------------------------------------------------------------------------------------------------------------- DFA SHORT-TERM GOVERNMENT PORTFOLIO ----------------------------------------------- YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2012 2011 2010 2009 ------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 10.99 $ 11.15 $ 10.92 $ 10.44 ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.11 0.18 0.25 0.26 Net Gains (Losses) on Securities (Realized and Unrealized). 0.09 0.01 0.32 0.49 ---------- ---------- ---------- ---------- Total from Investment Operations.......................... 0.20 0.19 0.57 0.75 ------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.11) (0.20) (0.26) (0.27) Net Realized Gains......................................... (0.20) (0.15) (0.08) -- ---------- ---------- ---------- ---------- Total Distributions....................................... (0.31) (0.35) (0.34) (0.27) ------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 10.88 $ 10.99 $ 11.15 $ 10.92 ============================================================= ========== ========== ========== ========== Total Return................................................. 1.89% 1.77% 5.32% 7.27% ------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $1,585,670 $1,343,989 $1,110,308 $1,008,237 Ratio of Expenses to Average Net Assets...................... 0.20% 0.21% 0.23% 0.25% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly)................................................. 0.20% 0.21% 0.23% 0.25% Ratio of Net Investment Income to Average Net Assets......... 0.98% 1.65% 2.29% 2.44% Portfolio Turnover Rate...................................... 41% 64% 64% 72% ------------------------------------------------------------------------------------------------------------- See page 1 & 2 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 100 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) DFA FIVE-YEAR GLOBAL FIXED INCOME PORTFOLIO ---------------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 ---------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period........................... $ 11.28 $ 11.32 $ 11.70 $ 11.27 $ 10.68 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)............................. 0.12 0.18 0.23 0.29 0.27 Net Gains (Losses) on Securities (Realized and Unrealized)... (0.05) 0.22 0.06 0.54 0.55 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations............................ 0.07 0.40 0.29 0.83 0.82 ---------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income........................................ (0.10) (0.23) (0.44) (0.40) (0.23) Net Realized Gains........................................... (0.11) (0.21) (0.23) -- -- ---------- ---------- ---------- ---------- ---------- Total Distributions......................................... (0.21) (0.44) (0.67) (0.40) (0.23) ---------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Period................................. $ 11.14 $ 11.28 $ 11.32 $ 11.70 $ 11.27 =============================================================== ========== ========== ========== ========== ========== Total Return................................................... 0.63% 3.74% 2.74% 7.51% 7.74% ---------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands).......................... $7,851,561 $6,341,337 $5,184,700 $4,395,516 $3,220,787 ---------------------------------------------------------------------------------------------------------------------------- Ratio of Expenses to Average Net Assets........................ 0.28% 0.28% 0.28% 0.28% 0.30% Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly)................................ 0.28% 0.28% 0.28% 0.28% 0.30% Ratio of Net Investment Income to Average Net Assets........... 1.05% 1.64% 2.10% 2.56% 2.48% Portfolio Turnover Rate........................................ 72% 58% 67% 73% 70% ---------------------------------------------------------------------------------------------------------------------------- DFA WORLD EX U.S. GOVERNMENT FIXED INCOME PORTFOLIO ------------------ PERIOD DEC. 6, YEAR 2011 (A) ENDED TO OCT. 31, OCT. 31, 2013 2012 ------------------------------------------------------------------------------------------ Net Asset Value, Beginning of Period........................... $ 10.56 $ 10.00 -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)............................. 0.16 0.18 Net Gains (Losses) on Securities (Realized and Unrealized)... (0.14) 0.48 -------- -------- Total from Investment Operations............................ 0.02 0.66 ------------------------------------------------------------------------------------------ Less Distributions ------------------ Net Investment Income........................................ (0.17) (0.10) Net Realized Gains........................................... (0.10) -- -------- -------- Total Distributions......................................... (0.27) (0.10) ------------------------------------------------------------------------------------------ Net Asset Value, End of Period................................. $ 10.31 $ 10.56 =============================================================== ======== ======== Total Return................................................... 0.23% 6.66%(D) ------------------------------------------------------------------------------------------ Net Assets, End of Period (thousands).......................... $240,733 $141,237 ------------------------------------------------------------------------------------------ Ratio of Expenses to Average Net Assets........................ 0.20% 0.20%(C)(E) Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly)................................ 0.23% 0.37%(C)(E) Ratio of Net Investment Income to Average Net Assets........... 1.53% 1.83%(C)(E) Portfolio Turnover Rate........................................ 44% 82%(D) ------------------------------------------------------------------------------------------ See page 1 & 2 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 101 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) DFA INTERMEDIATE GOVERNMENT FIXED INCOME PORTFOLIO ----------------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 ----------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period........................... $ 13.13 $ 12.90 $ 12.84 $ 12.31 $ 11.66 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)............................. 0.31 0.37 0.44 0.49 0.51 Net Gains (Losses) on Securities (Realized and Unrealized)... (0.58) 0.32 0.10 0.57 0.72 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations............................ (0.27) 0.69 0.54 1.06 1.23 ----------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income........................................ (0.32) (0.37) (0.44) (0.48) (0.52) Net Realized Gains........................................... (0.02) (0.09) (0.04) (0.05) (0.06) ---------- ---------- ---------- ---------- ---------- Total Distributions......................................... (0.34) (0.46) (0.48) (0.53) (0.58) ----------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Period................................. $ 12.52 $ 13.13 $ 12.90 $ 12.84 $ 12.31 =============================================================== ========== ========== ========== ========== ========== Total Return................................................... (2.09)% 5.49% 4.42% 8.85% 10.71% ----------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands).......................... $3,665,838 $3,058,924 $2,377,280 $1,869,828 $1,484,155 Ratio of Expenses to Average Net Assets........................ 0.12% 0.13% 0.12% 0.13% 0.15% Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly)......................... 0.12% 0.13% 0.12% 0.13% 0.15% Ratio of Net Investment Income to Average Net Assets........... 2.45% 2.85% 3.50% 3.91% 4.18% Portfolio Turnover Rate........................................ 6% 4% 16% 7% 8% ----------------------------------------------------------------------------------------------------------------------------- DFA SHORT-TERM EXTENDED QUALITY PORTFOLIO ------------------------------------------------------- PERIOD YEAR YEAR YEAR YEAR MARCH 4, ENDED ENDED ENDED ENDED 2009 (A) TO OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 ------------------------------------------------------------------------------------------------------------------------------ Net Asset Value, Beginning of Period........................... $ 10.98 $ 10.86 $ 10.93 $ 10.56 $ 10.00 ---------- ---------- ---------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)............................. 0.17 0.21 0.25 0.33 0.24 Net Gains (Losses) on Securities (Realized and Unrealized)... (0.09) 0.13 (0.05) 0.37 0.50 ---------- ---------- ---------- -------- -------- Total from Investment Operations............................ 0.08 0.34 0.20 0.70 0.74 ------------------------------------------------------------------------------------------------------------------------------ Less Distributions ------------------ Net Investment Income........................................ (0.18) (0.20) (0.25) (0.32) (0.18) Net Realized Gains........................................... (0.02) (0.02) (0.02) (0.01) -- ---------- ---------- ---------- -------- -------- Total Distributions......................................... (0.20) (0.22) (0.27) (0.33) (0.18) ------------------------------------------------------------------------------------------------------------------------------ Net Asset Value, End of Period................................. $ 10.86 $ 10.98 $ 10.86 $ 10.93 $ 10.56 =============================================================== ========== ========== ========== ======== =========== Total Return................................................... 0.79% 3.22% 1.91% 6.73% 7.49%(D) ------------------------------------------------------------------------------------------------------------------------------ Net Assets, End of Period (thousands).......................... $2,632,084 $1,975,102 $1,333,202 $754,269 $378,475 Ratio of Expenses to Average Net Assets........................ 0.22% 0.22% 0.22% 0.22% 0.22%(C)(E) Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly)......................... 0.23% 0.23% 0.23% 0.24% 0.28%(C)(E) Ratio of Net Investment Income to Average Net Assets........... 1.57% 1.96% 2.32% 3.04% 3.54%(C)(E) Portfolio Turnover Rate........................................ 19% 21% 17% 14% 2%(D) ------------------------------------------------------------------------------------------------------------------------------ See page 1 & 2 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 102 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) DFA INTERMEDIATE-TERM EXTENDED QUALITY PORTFOLIO ------------------------------------------ PERIOD YEAR YEAR YEAR JULY 20, ENDED ENDED ENDED 2010 (A) TO OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 --------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period........................ $ 11.10 $ 10.46 $ 10.28 $ 10.00 ---------- -------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.31 0.33 0.33 0.08 Net Gains (Losses) on Securities (Realized and Unrealized). (0.59) 0.61 0.16 0.24 ---------- -------- -------- -------- Total from Investment Operations......................... (0.28) 0.94 0.49 0.32 --------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.31) (0.30) (0.31) (0.04) Net Realized Gains......................................... (0.01) -- -- -- ---------- -------- -------- -------- Total Distributions...................................... (0.32) (0.30) (0.31) (0.04) --------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Period.............................. $ 10.50 $ 11.10 $ 10.46 $ 10.28 =========================================================== ========== ======== ======== =========== Total Return................................................ (2.62)% 9.19% 4.94% 3.15%(D) --------------------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)....................... $1,391,394 $828,270 $307,580 $144,093 Ratio of Expenses to Average Net Assets..................... 0.22% 0.22% 0.22% 0.22%(C)(E) Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly)...................... 0.23% 0.24% 0.27% 0.35%(C)(E) Ratio of Net Investment Income to Average Net Assets........ 2.88% 3.04% 3.27% 2.77%(C)(E) Portfolio Turnover Rate..................................... 10% 8% 15% 1%(D) --------------------------------------------------------------------------------------------------------------- DFA INVESTMENT GRADE PORTFOLIO ------------------------------------- PERIOD YEAR YEAR MARCH 7, ENDED ENDED 2011 (A) TO OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 ------------------------------------------------------------------------------------------------------------ Net Asset Value, Beginning of Period........................ $ 10.99 $ 10.60 $ 10.00 ---------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.25 0.25 0.19 Net Gains (Losses) on Securities (Realized and Unrealized). (0.42) 0.40 0.54 ---------- -------- -------- Total from Investment Operations......................... (0.17) 0.65 0.73 ------------------------------------------------------------------------------------------------------------ Less Distributions ------------------ Net Investment Income...................................... (0.24) (0.26) (0.13) Net Realized Gains......................................... (0.01) -- -- ---------- -------- -------- Total Distributions...................................... (0.25) (0.26) (0.13) ------------------------------------------------------------------------------------------------------------ Net Asset Value, End of Period.............................. $ 10.57 $ 10.99 $ 10.60 =========================================================== ========== ======== =========== Total Return................................................ (1.58)% 6.21% 7.35%(D) ------------------------------------------------------------------------------------------------------------ Net Assets, End of Period (thousands)....................... $1,442,269 $899,163 $199,654 Ratio of Expenses to Average Net Assets..................... 0.22%(B) 0.22%(B) 0.22%(B)(C)(E) Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly)...................... 0.41%(B) 0.41%(B) 0.50%(B)(C)(E) Ratio of Net Investment Income to Average Net Assets........ 2.30%(B) 2.32%(B) 2.68%(C)(E) Portfolio Turnover Rate..................................... N/A N/A N/A ------------------------------------------------------------------------------------------------------------ See page 1 & 2 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 103 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) DFA INFLATION-PROTECTED SECURITIES PORTFOLIO --------------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year............................. $ 13.00 $ 12.35 $ 11.85 $ 10.95 $ 9.41 ---------- ---------- ---------- ---------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)............................. 0.21 0.27 0.55 0.29 0.12 Net Gains (Losses) on Securities (Realized and Unrealized)... (1.05) 0.79 0.52 0.92 1.53 ---------- ---------- ---------- ---------- -------- Total from Investment Operations............................ (0.84) 1.06 1.07 1.21 1.65 --------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income........................................ (0.24) (0.27) (0.51) (0.31) (0.10) Net Realized Gains........................................... (0.08) (0.14) (0.06) -- (0.01) ---------- ---------- ---------- ---------- -------- Total Distributions......................................... (0.32) (0.41) (0.57) (0.31) (0.11) --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................... $ 11.84 $ 13.00 $ 12.35 $ 11.85 $ 10.95 =============================================================== ========== ========== ========== ========== ======== Total Return................................................... (6.59)% 8.70% 9.38% 11.29% 17.70% --------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)............................ $2,592,771 $2,511,251 $1,888,045 $1,396,779 $774,110 Ratio of Expenses to Average Net Assets........................ 0.12% 0.13% 0.13% 0.13% 0.16% Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumptions of Expenses and/or Recovery of Previously Waived Fees).................................................. 0.12% 0.13% 0.13% 0.13% 0.16% Ratio of Net Investment Income to Average Net Assets........... 1.68% 2.12% 4.64% 2.57% 1.20% Portfolio Turnover Rate........................................ 26% 9% 18% 12% 6% --------------------------------------------------------------------------------------------------------------------------- DFA SHORT-TERM MUNICIPAL BOND PORTFOLIO ---------------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year............................. $ 10.29 $ 10.30 $ 10.34 $ 10.24 $ 10.02 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)............................. 0.10 0.14 0.16 0.18 0.20 Net Gains (Losses) on Securities (Realized and Unrealized)... (0.06) (0.01) (0.03) 0.10 0.23 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations............................ 0.04 0.13 0.13 0.28 0.43 --------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income........................................ (0.10) (0.14) (0.17) (0.18) (0.21) Net Realized Gains........................................... -- -- -- -- -- ---------- ---------- ---------- ---------- ---------- Total Distributions......................................... (0.10) (0.14) (0.17) (0.18) (0.21) --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................... $ 10.23 $ 10.29 $ 10.30 $ 10.34 $ 10.24 =============================================================== ========== ========== ========== ========== ========== Total Return................................................... 0.42% 1.30% 1.24% 2.73% 4.32% --------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)............................ $1,780,699 $1,582,296 $1,525,039 $1,414,926 $1,168,259 Ratio of Expenses to Average Net Assets........................ 0.22% 0.22% 0.23% 0.23% 0.25% Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumptions of Expenses and/or Recovery of Previously Waived Fees).................................................. 0.22% 0.22% 0.23% 0.23% 0.25% Ratio of Net Investment Income to Average Net Assets........... 0.98% 1.38% 1.60% 1.72% 1.99% Portfolio Turnover Rate........................................ 24% 20% 13% 1% 0% --------------------------------------------------------------------------------------------------------------------------- See page 1 & 2 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 104 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) DFA INTERMEDIATE- TERM MUNICIPAL BOND PORTFOLIO ------------------ --------- PERIOD MARCH 1, YEAR 2012 (A) YEAR ENDED TO ENDED OCT. 31, OCT. 31, OCT. 31, 2013 2012 2013 ------------------------------------------------------------------------------------------------------------------ Net Asset Value, Beginning of Period......................................... $ 10.06 $ 10.00 $ 10.34 -------- ------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................................... 0.13 0.07 0.10 Net Gains (Losses) on Securities (Realized and Unrealized)................. (0.22) 0.04 (0.03) -------- ------- -------- Total from Investment Operations.......................................... (0.09) 0.11 0.07 ------------------------------------------------------------------------------------------------------------------ Less Distributions ------------------ Net Investment Income...................................................... (0.13) (0.05) (0.10) -------- ------- -------- Total Distributions....................................................... (0.13) (0.05) (0.10) ------------------------------------------------------------------------------------------------------------------ Net Asset Value, End of Period............................................... $ 9.84 $ 10.06 $ 10.31 ============================================================================= ======== ======== ======== Total Return................................................................. (0.91)% 1.13%(D) 0.70% ------------------------------------------------------------------------------------------------------------------ Net Assets, End of Period (thousands)........................................ $269,514 $89,499 $521,090 Ratio of Expenses to Average Net Assets...................................... 0.23% 0.23%(C)(E) 0.23% Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees)......................... 0.26% 0.34%(C)(E) 0.23% Ratio of Net Investment Income to Average Net Assets......................... 1.36% 1.09%(C)(E) 0.98% Portfolio Turnover Rate...................................................... 0% 2%(D) 28% ------------------------------------------------------------------------------------------------------------------ DFA CALIFORNIA SHORT-TERM MUNICIPAL BOND PORTFOLIO --------------------------------------- YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2012 2011 2010 2009 ---------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period......................................... $ 10.32 $ 10.39 $ 10.26 $ 10.00 -------- -------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................................... 0.15 0.17 0.19 0.22 Net Gains (Losses) on Securities (Realized and Unrealized)................. 0.02 (0.06) 0.13 0.27 -------- -------- -------- -------- Total from Investment Operations.......................................... 0.17 0.11 0.32 0.49 ---------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................................... (0.15) (0.18) (0.19) (0.23) -------- -------- -------- -------- Total Distributions....................................................... (0.15) (0.18) (0.19) (0.23) ---------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Period............................................... $ 10.34 $ 10.32 $ 10.39 $ 10.26 ============================================================================= ======== ======== ======== ======== Total Return................................................................. 1.61% 1.08% 3.14% 4.91% ---------------------------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)........................................ $395,141 $317,822 $297,631 $210,774 Ratio of Expenses to Average Net Assets...................................... 0.23% 0.23% 0.24% 0.26% Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees)......................... 0.23% 0.23% 0.24% 0.26% Ratio of Net Investment Income to Average Net Assets......................... 1.41% 1.69% 1.83% 2.17% Portfolio Turnover Rate...................................................... 20% 15% 4% 4% ---------------------------------------------------------------------------------------------------------------------- DFA CALIFORNIA INTERMEDIATE- TERM MUNICIPAL BOND PORTFOLIO ------------------ PERIOD YEAR NOV. 29, ENDED 2011 (A) TO OCT. 31, OCT. 31, 2013 2012 ------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period......................................... $ 10.30 $ 10.00 ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................................... 0.15 0.15 Net Gains (Losses) on Securities (Realized and Unrealized)................. (0.14) 0.27 ------- ------- Total from Investment Operations.......................................... 0.01 0.42 ------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................................... (0.15) (0.12) ------- ------- Total Distributions....................................................... (0.15) (0.12) ------------------------------------------------------------------------------------------------------- Net Asset Value, End of Period............................................... $ 10.16 $ 10.30 ============================================================================= ======== =========== Total Return................................................................. 0.08% 4.21%(D) ------------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)........................................ $97,199 $58,652 Ratio of Expenses to Average Net Assets...................................... 0.23% 0.23%(C)(E) Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees)......................... 0.26% 0.41%(C)(E) Ratio of Net Investment Income to Average Net Assets......................... 1.48% 1.51%(C)(E) Portfolio Turnover Rate...................................................... 11% 0%(D) ------------------------------------------------------------------------------------------------------- See page 1 & 2 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 105 DFA INVESTMENT DIMENSIONS GROUP INC. NOTES TO FINANCIAL STATEMENTS A. ORGANIZATION: DFA Investment Dimensions Group Inc. (the "Fund" or "IDG") is an open-end management investment company registered under the Investment Company Act of 1940, whose shares are generally offered to institutional investors, retirement plans and clients of registered investment advisors. The Fund consists of seventy-six operational portfolios, of which fifteen (the "Portfolios") are included in this report. The remaining operational portfolios are presented in separate reports. DFA Investment Grade Portfolio achieves its investment objective by primarily investing in other portfolios within IDG (collectively, the "Master Funds"). The Portfolio also invests in short-term temporary cash investments. DFA INVESTMENT GRADE PORTFOLIO (PERCENTAGE MASTER FUNDS OF OWNERSHIP AT OCTOBER 31, 2013) ------------ ------------------------------------------ DFA Intermediate-Term Extended Quality Portfolio 57% DFA Intermediate Government Fixed Income Portfolio 14% DFA Short-Term Extended Quality Portfolio 3% DFA Short-Term Government Portfolio 4% Effective February 28, 2011, DFA Five-Year Government Portfolio changed its name to DFA Short-Term Government Portfolio. Prior to October 23, 2009, DFA One-Year Fixed Income Portfolio and DFA Two-Year Global Fixed Income Portfolio invested substantially all of their assets in respective shares of The DFA One-Year Fixed Income Series and The DFA Two-Year Global Fixed Income Series. At the close of business on October 23, 2009, the Portfolios received their pro-rata share of cash and securities from the respective Series in a complete liquidation of their interest in the Series. Effective October 24, 2009, the Portfolios invest directly in securities rather than through the Series and maintain the same investment objectives. B. SIGNIFICANT ACCOUNTING POLICIES: The following significant accounting policies are in conformity with accounting principles generally accepted in the United States of America. Such policies are consistently followed by the Fund in preparation of its financial statements. The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the fair value of investments, the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates and those differences could be material. 1. SECURITY VALUATION: The Portfolios utilize a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels described below: . Level 1 - inputs are quoted prices in active markets for identical securities (including equity securities, open-end investment companies, futures contracts) . Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) . Level 3 - significant unobservable inputs (including the Portfolios' own assumptions in determining the fair value of investments) Debt securities held by the Portfolios are valued on the basis of evaluated prices provided by one or more pricing services or other reasonably reliable sources including broker/dealers that typically handle the purchase and sale of such securities. Securities which are traded over-the-counter and on a stock exchange generally will be valued according to the broadest and most representative market and it is expected that for bonds and other fixed 106 income securities, this ordinarily will be the over-the-counter market. Securities for which quotations are not readily available (including restricted securities), or for which market quotations have become unreliable, are valued in good faith at fair value in accordance with procedures adopted by the Board. These securities are generally categorized as Level 2 in the hierarchy. Over-the-counter derivative contracts, which include forward currency contracts, do not require material subjectivity as pricing inputs are observed from quoted markets and are categorized as Level 2 in the hierarchy. Shares held by the DFA Investment Grade Portfolio of the Master Funds, which are treated as regulated investment companies, and the shares held by the Portfolios in other investment companies, are valued at their respective daily net asset values as reported by their administrator. These valuations are classified as Level 1 in the hierarchy. A summary of the inputs used to value the Portfolios' investments by each major security type, industry and/or country is disclosed previously in this note. Valuation hierarchy tables have been included at the end of the Schedules of Investments. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For the year ended October 31, 2013, there were no significant transfers between Level 1 and Level 2 and no Level 3 investments held by the Portfolios. 2. FOREIGN CURRENCY TRANSLATION: Securities and other assets and liabilities of DFA Two-Year Global Fixed Income Portfolio, DFA Selectively Hedged Global Fixed Income Portfolio, DFA Five-Year Global Fixed Income Portfolio, DFA World ex U.S. Government Fixed Income Portfolio, DFA Short-Term Extended Quality Portfolio and DFA Intermediate-Term Extended Quality Portfolio (the "International Fixed Income Portfolios") whose values are initially expressed in foreign currencies are translated to U.S. dollars using the mean between the most recent bid and asked prices for the U.S. dollar as quoted by generally recognized reliable sources. Dividend and interest income and certain expenses are translated to U.S. dollars at the rate of exchange on their respective accrual dates. Receivables and payables denominated in foreign currencies are marked-to-market daily based on daily exchange rates and exchange gains or losses are realized upon ultimate receipt or disbursement. The International Fixed Income Portfolios enter into forward currency contracts for the purpose of hedging against fluctuations in currency exchange rates or to transfer balances from one currency to another. DFA Selectively Hedged Global Fixed Income Portfolio may hedge the currency exposure of its foreign securities or leave some or all of the currency exposure unhedged. Forward currency contracts are marked-to-market daily based on daily forward exchange rates. The International Fixed Income Portfolios isolate the effect of fluctuations in foreign currency rates when determining the realized gain or loss upon the sale or maturity of foreign currency denominated debt obligations pursuant to U.S. Federal income tax regulations; such amounts are categorized as foreign exchange gain or loss for income tax reporting purposes. Realized gains or losses on foreign currency transactions represent net foreign exchange gains or losses from the disposition of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between amounts of interest, dividends and any foreign withholding taxes recorded on the books of the International Fixed Income Portfolios and the U.S. dollar equivalent amounts actually received or paid. 3. DEFERRED COMPENSATION PLAN: Each eligible Director/Trustee of the Fund may elect participation in The Fee Deferral Plan for Independent Directors and Trustees (the "Plan"). Under the Plan, effective January 1, 2002, such Directors/Trustees may defer payment of all or a portion of their total fees earned as a Director/Trustee. These deferred amounts may be treated as though such amounts had been invested in shares of the following funds: U.S. Large Cap Value Portfolio; U.S. Core Equity 1 Portfolio; U.S. Core Equity 2 Portfolio; U.S. Vector Equity Portfolio; U.S. Micro Cap Portfolio; DFA International Value Portfolio; International Core Equity Portfolio; Emerging Markets Portfolio; Emerging Markets Core Equity Portfolio; and/or DFA Two-Year Global Fixed Income Portfolio. Contributions made under the Plan and the change in unrealized appreciation (depreciation) and income are included in Directors'/Trustees' Fees & Expenses. Each Director/Trustee has the option to receive their distribution of proceeds in one of the following methods: lump sum; annual installments over a period of agreed upon years; or quarterly installments over a period of agreed upon years. Each Director/Trustee shall have the right in a notice of election (the "Notice") to defer the 107 receipt of the Director's/Trustee's deferred compensation until a date specified by such Director/Trustee in the Notice, which date may not be sooner than the earlier of: (i) the first business day of January following the year in which such Director/Trustee ceases to be a member of the Board; and (ii) five years following the effective date of the Director's/Trustee's first deferral election. If a Director/Trustee who elects to defer fees fails to designate in the Notice a time or date as of which payment of the Director's/Trustee's deferred fee account shall commence, payment of such amount shall commence as of the first business day of January following the year in which the Director/Trustee ceases to be a member of the Board (unless the Director/Trustee files an amended Notice selecting a different distribution date). As of October 31, 2013, none of the Directors/Trustees have requested or received a distribution of proceeds of a deferred fee account. 4. OTHER: Security transactions are accounted for as of the trade date. Costs used in determining realized gains and losses on the sale of investment securities/affiliated investment companies and foreign currency are on the basis of identified cost. Dividend income and distributions to shareholders are recorded on the ex-dividend date. Distributions received on securities that represent a return of capital or capital gains are recorded as a reduction of cost of investments or as a realized gain, respectively. The Portfolios estimate the character of distributions received that may be considered return of capital distributions. Interest income is recorded on an accrual basis. Discount and premium on debt securities purchased are amortized over the lives of the respective securities, utilizing the effective interest method. Expenses directly attributable to a Portfolio are directly charged. Common expenses of the Fund or Portfolios are allocated using methods approved by the Board, generally based on average net assets. Prior to June 4, 2009 and October 16, 2009, DFA One-Year Fixed Income Portfolio and DFA Two-Year Global Fixed Income Portfolio, respectively, recognized their pro-rata share of net investment income and realized and unrealized gains/losses on a daily basis from their respective investments in The DFA One-Year Fixed Income Series and The DFA Two-Year Global Fixed Income Series which were treated as partnerships in accordance with both U.S. federal income tax regulations and accounting principles generally accepted in the United States of America. Effective June 4, 2009 and October 16, 2009, The DFA One-Year Fixed Income Series' and The DFA Two-Year Global Fixed Income Series', respectively, partnership status ceased and each became a corporate master fund in a RIC/RIC master-feeder structure. The Portfolios became the feeders of these Series. On October 23, 2009, both DFA One-Year Fixed Income Portfolio and DFA Two-Year Global Fixed Income Portfolio liquidated their investment in The DFA One-Year Fixed Income Series and The DFA Two-Year Global Fixed Income Series, respectively. Effective October 24, 2009, DFA One-Year Fixed Income Portfolio and DFA Two-Year Global Fixed Income Portfolio invest directly in securities rather than through the Series and maintain the same investment objectives. See the Federal Income Taxes note for more information regarding these transactions. C. INVESTMENT ADVISOR AND ADMINISTRATOR: The Advisor, Dimensional Fund Advisors LP, provides investment advisory services to the Portfolios. For the year ended October 31, 2013, the Portfolios' investment advisory services fees were accrued daily and paid monthly to the Advisor based on the following effective annual rates of average daily net assets: DFA One-Year Fixed Income Portfolio....................... 0.05% DFA Two-Year Global Fixed Income Portfolio................ 0.05% DFA Selectively Hedged Global Fixed Income Portfolio...... 0.15% DFA Short-Term Government Portfolio....................... 0.17% DFA Five-Year Global Fixed Income Portfolio............... 0.25% DFA World ex U.S. Government Fixed Income Portfolio....... 0.18% DFA Intermediate Government Fixed Income Portfolio........ 0.10% DFA Short-Term Extended Quality Portfolio................. 0.20% DFA Intermediate-Term Extended Quality Portfolio.......... 0.20% DFA Investment Grade Portfolio............................ 0.20% DFA Inflation-Protected Securities Portfolio.............. 0.10% DFA Short-Term Municipal Bond Portfolio................... 0.20% DFA Intermediate-Term Municipal Bond Portfolio............ 0.20% DFA California Short-Term Municipal Bond Portfolio........ 0.20% DFA California Intermediate-Term Municipal Bond Portfolio. 0.20% 108 For the year ended October 31, 2013, the administrative services fees for DFA One-Year Fixed Income Portfolio and DFA Two-Year Global Fixed Income Portfolio were accrued daily and paid monthly to the Advisor based on the following effective annual rates of average daily net assets: DFA One-Year Fixed Income Portfolio........ 0.10% DFA Two-Year Global Fixed Income Portfolio. 0.10% Pursuant to an Amended and Restated Fee Waiver and/or Expense Assumption Agreement, the Advisor has contractually agreed to waive certain fees and in certain instances, assume certain expenses of the Portfolios, as described in the notes below. The Amended and Restated Fee Waiver and/or Expense Assumption Agreement for the Portfolios below will remain in effect through February 28, 2014, and shall continue in effect from year to year thereafter unless terminated by the Fund or the Advisor. For the year ended October 31, 2013, the Portfolios had expense limits based on a percentage of average net assets on an annualized basis, and the Advisor recovered previously waived fees and/or expenses assumed as listed below (amounts in thousands). Previously waived fees subject to future recovery by the Advisor are also reflected below (amounts in thousands). The Fund, on behalf of the Portfolios, is not obligated to reimburse the Advisor for fees previously waived or expenses previously assumed by the Advisor more than thirty-six months before the date of recovery. PREVIOUSLY RECOVERY WAIVED FEES/ EXPENSE OF PREVIOUSLY EXPENSES ASSUMED LIMITATION WAIVED FEES/ SUBJECT TO FUTURE AMOUNT EXPENSES ASSUMED RECOVERY - ---------- ---------------- ----------------- DFA Selectively Hedged Global Fixed Income Portfolio (1). 0.25% -- -- DFA Short-Term Government Portfolio (2).................. 0.20% -- -- DFA World ex U.S. Government Fixed Income Portfolio (1).. 0.20% -- $ 182 DFA Short-Term Extended Quality Portfolio (1)............ 0.22% $20 427 DFA Intermediate-Term Extended Quality Portfolio (1)..... 0.22% 5 288 DFA Investment Grade Portfolio (3)....................... 0.22% -- 3,277 DFA Inflation-Protected Securities Portfolio (1)......... 0.20% -- -- DFA Short-Term Municipal Bond Portfolio (2).............. 0.30% -- -- DFA Intermediate-Term Municipal Bond Portfolio (1)....... 0.23% 4 87 DFA California Short-Term Municipal Bond Portfolio (1)... 0.30% -- -- DFA California Intermediate-Term Municipal Bond Portfolio (1).......................................... 0.23% 5 91 (1) The Advisor has contractually agreed to waive all or a portion of its advisory fee and to assume the Portfolio's ordinary operating expenses (excluding the expenses the Portfolio incurs indirectly through its investment in other investment companies and excluding any applicable 12b-1 fees) ("Portfolio Expenses") to the extent necessary to limit the Portfolio Expenses of a class of the Portfolio, on an annualized basis, to the rate listed above as a percentage of average net assets of such class of the Portfolio (the "Expense Limitation Amount"). At any time that the Portfolio Expenses of a class of the Portfolio are less than the Expense Limitation Amount listed above for such Portfolio, the Advisor retains the right to recover any fees previously waived and/or expenses previously assumed to the extent that such recovery will not cause the Portfolio's annualized Portfolio Expenses for such class to exceed the Expense Limitation Amount. (2) The Advisor has contractually agreed to waive all or a portion of its advisory fee to the extent necessary to reduce the Portfolio's ordinary operating expenses (excluding expenses incurred through its investment in other investment companies and excluding any applicable 12b-1 fees) ("Portfolio Expenses") of a class of the Portfolio so that the Portfolio Expenses, on an annualized basis, do not exceed the rate listed above as a percentage of average net assets of such class of the Portfolio (the "Expense Limitation Amount"). At any time that the Portfolio Expenses of a class of the Portfolio are less than the Expense Limitation Amount listed above for such Portfolio, the Advisor retains the right to recover any fees previously waived to the extent that such recovery will not cause the Portfolio's annualized Portfolio Expenses for such class to exceed the Expense Limitation Amount. 109 (3) The Advisor has contractually agreed to waive all or a portion of its advisory fee and to assume the expenses of the Portfolio (including the expenses that the Portfolio bears as a shareholder of other funds managed by the Advisor but excluding the expenses that the Portfolio incurs indirectly through its investment in unaffiliated investment companies and excluding any applicable 12b-1 fees) ("Portfolio Expenses") to the extent necessary to limit the Portfolio Expenses of a class of the Portfolio, on an annualized basis, to the rate listed above as a percentage of average net assets of such class of the Portfolio (the "Expense Limitation Amount"). At any time that the Portfolio Expenses of a class of the Portfolio are less than the Expense Limitation Amount listed above for such Portfolio, the Advisor retains the right to recover any fees previously waived and/or expenses previously assumed to the extent that such recovery will not cause the Portfolio's annualized Portfolio Expenses for such class to exceed the Expense Limitation Amount. EARNED INCOME CREDIT: In addition, the Portfolios have entered into arrangements with their custodian whereby net interest earned on uninvested cash balances was used to reduce a portion of the Portfolios' custody expenses. Custody expense in the accompanying financial statements is presented before reduction for credits. During the year ended October 31, 2013, expenses reduced were as follows (amounts in thousands): FEES PAID INDIRECTLY ---------- DFA Two-Year Global Fixed Income Portfolio........... $68 DFA Selectively Hedged Global Fixed Income Portfolio. 11 DFA Five-Year Global Fixed Income Portfolio.......... 78 DFA World ex U.S. Government Fixed Income Portfolio.. 4 DFA Short-Term Extended Quality Portfolio............ 36 DFA Intermediate-Term Extended Quality Portfolio..... 9 FEES PAID TO OFFICERS AND DIRECTORS/TRUSTEES: Certain Officers and Directors/Trustees of the Advisor are also Officers and Directors/Trustees of the Fund; however, such Officers and Directors/Trustees (with the exception of the Chief Compliance Officer ("CCO")) receive no compensation from the Fund. For the year ended October 31, 2013, the total related amounts paid by the Fund to the CCO were $250 (in thousands). The total related amounts paid by each of the Portfolios are included in Other Expenses on the Statement of Operations. D. DEFERRED COMPENSATION: At October 31, 2013, the total liability for deferred compensation to Directors/Trustees is included in Accrued Expenses and Other Liabilities on the Statement of Assets and Liabilities as follows (amounts in thousands): DFA One-Year Fixed Income Portfolio....................... $297 DFA Two-Year Global Fixed Income Portfolio................ 251 DFA Selectively Hedged Global Fixed Income Portfolio...... 17 DFA Short-Term Government Portfolio....................... 50 DFA Five-Year Global Fixed Income Portfolio............... 168 DFA World ex U.S. Government Fixed Income Portfolio....... 1 DFA Intermediate Government Fixed Income Portfolio........ 76 DFA Short-Term Extended Quality Portfolio................. 28 DFA Intermediate-Term Extended Quality Portfolio.......... 8 DFA Investment Grade Portfolio............................ 8 DFA Inflation-Protected Securities Portfolio.............. 44 DFA Short-Term Municipal Bond Portfolio................... 52 DFA Intermediate-Term Municipal Bond Portfolio............ 1 DFA California Short-Term Municipal Bond Portfolio........ 11 DFA California Intermediate-Term Municipal Bond Portfolio. 1 110 E. PURCHASES AND SALES OF SECURITIES: For the year ended October 31, 2013, the Portfolios made the following purchases and sales of investment securities, other than short-term securities (amounts in thousands): U.S. GOVERNMENT OTHER INVESTMENT SECURITIES SECURITIES --------------------- --------------------- PURCHASES SALES PURCHASES SALES ---------- ---------- ---------- ---------- DFA One-Year Fixed Income Portfolio.................. $ 972,004 $1,845,274 $4,095,820 $2,254,150 DFA Two-Year Global Fixed Income Portfolio........... 1,423,058 785,100 5,739,838 4,959,074 DFA Selectively Hedged Global Fixed Income Portfolio. 108,980 108,211 944,839 779,976 DFA Short-Term Government Portfolio.................. 838,647 602,154 -- -- DFA Five-Year Global Fixed Income Portfolio.......... 220,006 340,435 6,293,654 4,669,685 DFA World ex U.S. Government Fixed Income Portfolio.. 3,736 3,667 181,525 78,923 DFA Intermediate Government Fixed Income Portfolio... 979,412 194,992 -- -- DFA Short-Term Extended Quality Portfolio............ 21,704 5,000 1,103,223 422,647 DFA Intermediate-Term Extended Quality Portfolio..... 51,032 20,146 656,204 81,426 DFA Inflation-Protected Securities Portfolio......... 994,807 666,736 -- -- DFA Short-Term Municipal Bond Portfolio.............. -- -- 618,960 377,450 DFA Intermediate-Term Municipal Bond Portfolio....... -- -- 180,667 488 DFA California Short-Term Municipal Bond Portfolio... -- -- 217,710 113,278 DFA California Intermediate-Term Municipal Bond Portfolio..................................... -- -- 49,850 9,233 For the year ended October 31, 2013, DFA Investment Grade Portfolio made the following purchases and sales of Affiliated Investment Companies (amounts in thousands): DFA INVESTMENT GRADE PORTFOLIO ------------------------------------------------------------------ BALANCE AT BALANCE AT DIVIDEND DISTRIBUTIONS OF AFFILIATED INVESTMENT COMPANIES 10/31/2012 10/31/2013 PURCHASES SALES INCOME REALIZED GAINS ------------------------------- ---------- ---------- --------- -------- -------- ---------------- DFA Intermediate-Term Extended Quality Portfolio............... $346,956 $766,075 $442,963 -- $13,975 $241 DFA Intermediate Government Fixed Income Portfolio................ 275,095 489,951 231,689 -- 8,590 520 DFA Short-Term Extended Quality Portfolio....................... 187,536 88,053 23,500 $118,806 2,803 411 DFA Short-Term Government Portfolio....................... 80,766 79,012 8,089 7,340 648 683 F. FEDERAL INCOME TAXES: Each Portfolio has qualified and intends to continue to qualify as a regulated investment company under Sub-chapter M of the Internal Revenue Code for federal income tax purposes and to distribute substantially all of its taxable income and net capital gains to its shareholders. Accordingly, no provision has been made for federal income taxes. Distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from those amounts determined under accounting principles generally accepted in the United States of America. These book/tax differences are either temporary or permanent in nature. To the extent these differences are permanent, they are charged or credited to paid-in capital, undistributed net investment income or accumulated net realized gains or losses, as appropriate, in the period that the differences arise. Accordingly, the following permanent differences as of October 31, 2013, primarily attributable to net foreign currency gains/losses, non-deductible expenses, expiration of capital loss carryovers and 111 distribution redesignations, short term distributions from underlying RICs were reclassified to the following accounts. These reclassifications had no effect on net assets or net asset value per share (amounts in thousands): INCREASE INCREASE (DECREASE) (DECREASE) INCREASE UNDISTRIBUTED ACCUMULATED (DECREASE) NET INVESTMENT NET REALIZED PAID-IN CAPITAL INCOME GAINS (LOSSES) --------------- -------------- -------------- DFA One-Year Fixed Income Portfolio.................. -- -- DFA Two-Year Global Fixed Income Portfolio........... $ (4,790) $ 4,790 DFA Selectively Hedged Global Fixed Income Portfolio. (6,388) 6,388 DFA Short-Term Government Portfolio.................. -- -- DFA Five-Year Global Fixed Income Portfolio.......... (23,441) 23,441 DFA World Ex U.S. Government Fixed Income Portfolio.. 1,649 (1,649) DFA Intermediate Government Fixed Income Portfolio... (170) 170 DFA Short-Term Extended Quality Portfolio............ (4,489) 4,489 DFA Intermediate-Term Extended Quality Portfolio..... (1,239) 1,239 DFA Investment Grade Portfolio....................... -- -- DFA Inflation-Protected Securities Portfolio......... (136) 136 DFA Short-Term Municipal Bond Portfolio.............. -- -- DFA Intermediate-Term Municipal Bond Portfolio....... -- -- DFA California Short-Term Municipal Bond Portfolio... -- -- DFA California Intermediate-Term Municipal Bond Portfolio.......................................... -- -- The tax character of dividends and distributions declared and paid during the years ended October 31, 2012 and October 31, 2013 were as follows (amounts in thousands): NET INVESTMENT INCOME AND SHORT-TERM LONG-TERM TAX EXEMPT CAPITAL GAINS CAPITAL GAINS INCOME TOTAL -------------- ------------- ---------- -------- DFA One-Year Fixed Income Portfolio 2012................................................. $ 39,643 $16,267 -- $ 55,910 2013................................................. 40,734 7,281 -- 48,015 DFA Two-Year Global Fixed Income Portfolio 2012................................................. 82,921 3,260 -- 86,181 2013................................................. 54,661 1,375 -- 56,036 DFA Selectively Hedged Global Fixed Income Portfolio 2012................................................. 25,733 423 -- 26,156 2013................................................. 21,221 -- -- 21,221 DFA Short-Term Government Portfolio 2012................................................. 18,199 21,214 -- 39,413 2013................................................. 13,530 13,008 -- 26,538 DFA Five-Year Global Fixed Income Portfolio 2012................................................. 139,431 76,000 -- 215,431 2013................................................. 80,566 42,555 -- 123,121 DFA World Ex U.S. Government Fixed Income Portfolio 2012................................................. 837 -- -- 837 2013................................................. 4,243 -- -- 4,243 DFA Intermediate Government Fixed Income Portfolio 2012................................................. 77,383 16,580 -- 93,963 2013................................................. 82,721 5,297 -- 88,018 DFA Short-Term Extended Quality Portfolio 2012................................................. 29,793 2,632 -- 32,425 2013................................................. 37,553 4,387 -- 41,940 112 NET INVESTMENT INCOME AND SHORT-TERM LONG-TERM TAX EXEMPT CAPITAL GAINS CAPITAL GAINS INCOME TOTAL -------------- ------------- ---------- ------- DFA Intermediate-Term Extended Quality Portfolio 2012............................................... $15,556 -- -- $15,556 2013............................................... 30,139 $ 565 -- 30,704 DFA Investment Grade Portfolio 2012............................................... 12,346 -- -- 12,346 2013............................................... 24,205 867 -- 25,072 DFA Inflation-Protected Securities Portfolio 2012............................................... 45,542 19,542 -- 65,084 2013............................................... 51,554 13,876 -- 65,430 DFA Short-Term Municipal Bond Portfolio 2012............................................... 21,494 -- -- 21,494 2013............................................... -- -- $16,375 16,375 DFA Intermediate-Term Municipal Bond Portfolio 2012............................................... 362 -- -- 362 2013............................................... -- -- 1,943 1,943 DFA California Short-Term Municipal Bond Portfolio 2012............................................... 4,994 -- -- 4,994 2013............................................... -- -- 4,312 4,312 DFA California Intermediate-Term Municipal Bond Portfolio 2012............................................... 471 -- -- 471 2013............................................... -- -- 1,248 1,248 At October 31, 2013, the components of distributable earnings (accumulated losses) were as follows (amounts in thousands): UNDISTRIBUTED TOTAL NET NET INVESTMENT DISTRIBUTABLE INCOME AND UNDISTRIBUTED CAPITAL UNREALIZED EARNINGS SHORT-TERM LONG-TERM LOSS APPRECIATION (ACCUMULATED CAPITAL GAINS CAPITAL GAINS CARRYFOWARD DEPRECIATION LOSSES) -------------- ------------- ----------- ------------ ------------- DFA One-Year Fixed Income Portfolio.... $ 4,051 $ 3,485 -- $ 10,135 $ 17,671 DFA Two-Year Global Fixed Income Portfolio............................ 23,221 1,765 -- (27,103) (2,117) DFA Selectively Hedged Global Fixed Income Portfolio..................... 10,291 79 -- (4,691) 5,679 DFA Short-Term Government Portfolio.... 2,410 3,324 -- 4,674 10,408 DFA Five-Year Global Fixed Income Portfolio............................ 46,570 96,458 -- 37,115 180,143 DFA World Ex U.S. Government Fixed Income Portfolio..................... 2,523 -- -- (2,190) 333 DFA Intermediate Government Fixed Income Portfolio..................... 13,811 -- $ (237) 98,189 111,763 DFA Short-Term Extended Quality Portfolio............................ 2,258 4,635 -- 23,535 30,428 DFA Intermediate-Term Extended Quality Portfolio............................ 2,617 329 -- (12,926) (9,980) DFA Investment Grade Portfolio......... 2,180 194 -- (19,926) (17,552) DFA Inflation-Protected Securities Portfolio............................ 4,184 -- (3,570) 81,717 82,331 113 UNDISTRIBUTED TOTAL NET NET INVESTMENT DISTRIBUTABLE INCOME AND UNDISTRIBUTED CAPITAL UNREALIZED EARNINGS SHORT-TERM LONG-TERM LOSS APPRECIATION (ACCUMULATED CAPITAL GAINS CAPITAL GAINS CARRYFOWARD DEPRECIATION LOSSES) -------------- ------------- ----------- ------------ ------------- DFA Short-Term Municipal Bond Portfolio.......................... $1,219 -- $ (66) $14,680 $15,833 DFA Intermediate-Term Municipal Bond Portfolio.......................... 352 -- (12) (1,421) (1,081) DFA California Short-Term Municipal Bond Portfolio..................... 370 -- (8) 3,933 4,295 DFA California Intermediate-Term Municipal Bond Portfolio........... 130 -- (113) (329) (312) For federal income tax purposes, the Fund measures its capital loss carryforwards annually at October 31, its fiscal year end. Capital loss carryforwards may be carried forward and applied against future capital gains. Under the Regulated Investment Company Modernization Act of 2010, capital losses incurred by these Portfolios after October 31, 2011 will not be subject to expiration and will retain their character as either short-term or long-term capital losses. In addition, such losses must be utilized prior to the losses incurred in the years preceding enactment. As of October 31, 2013, the Portfolios utilized the following capital loss carryforwards available to offset future realized capital gains through the indicated expiration dates (amounts in thousands): EXPIRES ON OCTOBER 31, ---------------------- 2018 2019 UNLIMITED TOTAL ---- ---- --------- ------ DFA Intermediate Government Fixed Income Portfolio........ -- -- $ 237 $ 237 DFA Inflation-Protected Securities Portfolio.............. -- -- 3,570 3,570 DFA Short-Term Municipal Bond Portfolio................... -- $ 3 63 66 DFA Intermediate-Term Municipal Bond Portfolio............ -- -- 12 12 DFA California Short-Term Municipal Bond Portfolio........ $ 1 3 4 8 DFA California Intermediate-Term Municipal Bond Portfolio. -- -- 113 113 During the year ended October 31, 2013, each Portfolio did not utilize capital loss carryforwards. At October 31, 2013, the total cost and aggregate gross unrealized appreciation (depreciation) of securities for federal income tax purposes were different from amounts reported for financial reporting purposes (amounts in thousands): NET UNREALIZED FEDERAL UNREALIZED UNREALIZED APPRECIATION TAX COST APPRECIATION DEPRECIATION (DEPRECIATION) ---------- ------------ ------------ -------------- DFA One-Year Fixed Income Portfolio.................. $8,027,083 $ 10,823 $ (688) $ 10,135 DFA Two-Year Global Fixed Income Portfolio........... 5,687,591 14,389 (39,124) (24,735) DFA Selectively Hedged Global Fixed Income Portfolio. 972,490 4,480 (9,031) (4,551) DFA Short-Term Government Portfolio.................. 1,760,267 11,047 (6,373) 4,674 DFA Five-Year Global Fixed Income Portfolio.......... 8,183,436 71,562 (30,783) 40,779 DFA World Ex U.S. Government Fixed Income Portfolio.. 237,466 5,113 (7,425) (2,312) DFA Intermediate Government Fixed Income Portfolio... 3,512,589 128,345 (30,156) 98,189 DFA Short-Term Extended Quality Portfolio............ 2,743,056 29,060 (5,495) 23,565 DFA Intermediate-Term Extended Quality Portfolio..... 1,522,358 18,420 (31,351) (12,931) DFA Investment Grade Portfolio....................... 1,469,018 345 (20,271) (19,926) DFA Inflation-Protected Securities Portfolio......... 2,510,492 96,703 (14,986) 81,717 DFA Short-Term Municipal Bond Portfolio.............. 1,802,151 14,860 (181) 14,680 DFA Intermediate-Term Municipal Bond Portfolio....... 272,099 2,062 (3,483) (1,421) 114 NET UNREALIZED FEDERAL UNREALIZED UNREALIZED APPRECIATION TAX COST APPRECIATION DEPRECIATION (DEPRECIATION) -------- ------------ ------------ -------------- DFA California Short-Term Municipal Bond Portfolio. $511,935 $4,016 $ (83) $3,933 DFA California Intermediate-Term Municipal Bond Portfolio........................................ 96,375 690 (1,019) (329) The difference between book basis and tax-basis unrealized appreciation (depreciation) is primarily attributable to the tax deferral of losses on wash sales and investments in passive foreign investment companies. Accounting for Uncertainty in Income Taxes sets forth a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken on a tax return. Management has analyzed each Portfolio's tax positions and has concluded that no additional provision for income tax is required in any Portfolios' financial statements. No Portfolio is aware of any tax positions for which it is more likely than not that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. Each of the Portfolio's federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service. G. FINANCIAL INSTRUMENTS: In accordance with the Portfolios' investment objectives and policies, the Portfolios may invest in certain financial instruments that have off-balance sheet risk in excess of the amounts recognized in the financial statements and concentrations of credit and market risk. These instruments and their significant corresponding risks are described below: 1. REPURCHASE AGREEMENTS: The Portfolios may purchase certain U.S. Government securities subject to the counterparty's agreement to repurchase them at an agreed upon date and price. The counterparty will be required on a daily basis to maintain the value of the collateral subject to the agreement at not less than the repurchase price (including accrued interest). The agreements are conditioned upon the collateral being deposited under the Federal Reserve book-entry system with the Portfolio's custodian or a third party sub-custodian. In the event of default or bankruptcy by the other party to the agreement, retention of the collateral may be subject to legal proceedings. 2. FOREIGN MARKET RISKS: Investments in foreign markets may involve certain considerations and risks not typically associated with investments in the United States of America, including the possibility of future political and economic developments and the level of foreign governmental supervision and regulation of foreign securities markets. These markets are generally smaller, less liquid and more volatile than the major securities markets in the United States of America. Consequently, acquisition and disposition of international securities held by the Portfolios may be inhibited. DERIVATIVE FINANCIAL INSTRUMENTS: Summarized below are the specific types of derivative instruments used by Portfolios. 3. FORWARD CURRENCY CONTRACTS: The International Fixed Income Portfolios and DFA Investment Grade Portfolio may enter into forward currency contracts to hedge against adverse changes in the relationship of the U.S. dollar to foreign currencies (foreign exchange rate risk). The decision to hedge a Portfolio's currency exposure with respect to a foreign market will be based primarily on the Portfolio's existing exposure to a given foreign currency. Each contract is valued daily and the change in value is recorded by the Portfolio as an unrealized gain or loss, which is presented in the Statements of Operations as the change in unrealized appreciation or depreciation from translation of foreign currency denominated amounts. When the contract is closed or offset with the same counterparty, the Portfolio records a realized gain or loss equal to the change in the value of the contract when it was opened and the value at the time it was closed or offset. This is presented in the Statements of Operations as a net realized gain or loss on foreign currency transactions. At October 31, 2013, the following 115 Portfolios had entered into the following contracts and the net unrealized foreign exchange gain (loss) is reflected in the accompanying financial statements (amounts in thousands): DFA TWO-YEAR GLOBAL FIXED INCOME PORTFOLIO* UNREALIZED VALUE AT FOREIGN SETTLEMENT CURRENCY CONTRACT OCTOBER 31, EXCHANGE DATE AMOUNT** CURRENCY AMOUNT 2013 GAIN (LOSS) ---------- -------- --------------- --------- ----------- ----------- 11/05/13 107,496 Canadian Dollar $ 102,897 $ 103,087 $ 190 11/05/13 (107,496) Canadian Dollar (103,925) (103,088) 837 11/07/13 (59,894) Canadian Dollar (57,926) (57,435) 491 11/12/13 (99,518) Canadian Dollar (96,265) (95,421) 844 11/14/13 (82,565) Canadian Dollar (79,927) (79,162) 765 11/18/13 (5,166) Canadian Dollar (4,970) (4,953) 17 11/18/13 (37,503) Canadian Dollar (36,066) (35,954) 112 11/19/13 (62,445) Canadian Dollar (60,615) (59,864) 751 11/25/13 (83,090) Canadian Dollar (80,630) (79,643) 987 11/26/13 (88,591) Canadian Dollar (85,948) (84,914) 1,034 12/05/13 (107,294) Canadian Dollar (102,628) (102,817) (189) 12/06/13 255,333 Denmark Krone 47,250 46,493 (757) 12/06/13 (381,386) Denmark Krone (67,271) (69,446) (2,175) 01/24/14 153,634 Denmark Krone 28,446 27,986 (460) 01/24/14 (264,790) Denmark Krone (49,039) (48,234) 805 11/06/13 56,899 Euro 77,257 77,255 (2) 11/06/13 49,258 Euro 67,987 66,880 (1,107) 11/06/13 (106,157) Euro (139,402) (144,135) (4,733) 11/08/13 11,001 Euro 15,184 14,936 (248) 11/08/13 (44,290) Euro (59,955) (60,135) (180) 11/14/13 43,857 Euro 59,316 59,548 232 11/14/13 (114,538) Euro (155,570) (155,517) 53 11/15/13 35,299 Euro 47,727 47,929 202 11/15/13 (108,560) Euro (144,018) (147,400) (3,382) 11/18/13 60,934 Euro 83,981 82,736 (1,245) 11/18/13 (93,758) Euro (124,863) (127,304) (2,441) 11/19/13 69,642 Euro 96,117 94,559 (1,558) 11/19/13 21,553 Euro 29,263 29,265 2 11/19/13 (105,066) Euro (139,860) (142,658) (2,798) 11/21/13 60,466 Euro 83,337 82,100 (1,237) 11/21/13 15,509 Euro 21,019 21,058 39 11/21/13 (95,952) Euro (129,951) (130,284) (333) 11/22/13 50,379 Euro 68,933 68,405 (528) 11/22/13 (101,314) Euro (138,276) (137,564) 712 11/25/13 39,630 Euro 54,654 53,810 (844) 11/25/13 (100,223) Euro (136,980) (136,084) 896 11/26/13 (29,048) Euro (39,869) (39,441) 428 11/27/13 (34,679) Euro (47,735) (47,088) 647 11/29/13 (96,703) Euro (133,516) (131,306) 2,210 12/02/13 86,550 Euro 117,153 117,519 366 12/02/13 (1,246) Euro (1,679) (1,691) (12) 12/02/13 (7,234) Euro (9,828) (9,822) 6 12/02/13 (26,956) Euro (37,189) (36,602) 587 12/02/13 (90,905) Euro (122,766) (123,433) (667) 116 UNREALIZED VALUE AT FOREIGN SETTLEMENT CURRENCY CONTRACT OCTOBER 31, EXCHANGE DATE AMOUNT** CURRENCY AMOUNT 2013 GAIN (LOSS) ---------- ---------- ------------------ ----------- ----------- ----------- 12/03/13 48,914 Euro $ 66,904 $ 66,418 $ (486) 12/03/13 (923) Euro (1,274) (1,253) 21 12/03/13 (103,100) Euro (139,797) (139,993) (196) 11/27/13 (2,969,520) Japanese Yen (30,495) (30,203) 292 11/04/13 78,240 New Zealand Dollar 64,635 64,626 (9) 11/04/13 (26,105) New Zealand Dollar (21,558) (21,563) (5) 11/04/13 (26,052) New Zealand Dollar (21,581) (21,519) 62 11/04/13 (26,083) New Zealand Dollar (21,628) (21,545) 83 11/12/13 (115,068) New Zealand Dollar (95,559) (94,994) 565 11/22/13 (145,173) New Zealand Dollar (121,844) (119,765) 2,079 12/05/13 (78,426) New Zealand Dollar (64,652) (64,642) 10 11/04/13 242,488 Norwegian Krone 41,277 40,733 (544) 11/04/13 (242,488) Norwegian Krone (40,441) (40,733) (292) 12/05/13 (242,938) Norwegian Krone (41,307) (40,763) 544 11/18/13 15,242 UK Pound Sterling 24,691 24,436 (255) 11/18/13 15,263 UK Pound Sterling 24,675 24,470 (205) 11/18/13 10,201 UK Pound Sterling 16,573 16,355 (218) 11/18/13 (51,750) UK Pound Sterling (82,612) (82,967) (355) ----------- ----------- -------- $(1,830,139) $(1,840,731) $(10,592) =========== =========== ======== DFA SELECTIVELY HEDGED GLOBAL FIXED INCOME PORTFOLIO* UNREALIZED VALUE AT FOREIGN SETTLEMENT CURRENCY CONTRACT OCTOBER 31, EXCHANGE DATE AMOUNT** CURRENCY AMOUNT 2013 GAIN (LOSS) ---------- -------- ------------------ -------- ----------- ----------- 12/27/13 48,910 Australian Dollar $ 46,825 $ 46,067 $ (758) 12/06/13 40,152 Canadian Dollar 38,766 38,475 (291) 12/06/13 40,152 Canadian Dollar 38,766 38,475 (291) 11/01/13 48,238 New Zealand Dollar 37,925 39,845 1,920 11/01/13 9,500 New Zealand Dollar 7,933 7,847 (86) 11/01/13 (18,174) New Zealand Dollar (14,654) (15,012) (358) 11/01/13 (39,563) New Zealand Dollar (32,682) (32,679) 3 01/29/14 40,117 New Zealand Dollar 32,936 32,940 4 11/01/13 434,055 Norwegian Krone 72,415 72,913 498 11/01/13 27,626 Norwegian Krone 4,586 4,641 55 11/01/13 (461,682) Norwegian Krone (78,234) (77,554) 680 01/07/14 464,031 Norwegian Krone 78,435 77,763 (672) 12/11/13 (110) Singapore Dollar (87) (88) (1) 12/11/13 (6,809) Singapore Dollar (5,367) (5,481) (114) 12/06/13 381,205 Swedish Krona 60,072 58,782 (1,290) -------- -------- ------- $287,635 $286,934 $ (701) ======== ======== ======= 117 DFA FIVE-YEAR GLOBAL FIXED INCOME PORTFOLIO* UNREALIZED VALUE AT FOREIGN SETTLEMENT CURRENCY CONTRACT OCTOBER 31, EXCHANGE DATE AMOUNT** CURRENCY AMOUNT 2013 GAIN (LOSS) ---------- -------- ------------------ ----------- ----------- ----------- 11/15/13 107,630 Denmark Krone $ 19,747 $ 19,595 $ (152) 11/15/13 (356,937) Denmark Krone (63,527) (64,983) (1,456) 12/06/13 113,826 Denmark Krone 21,047 20,726 (321) 12/06/13 (345,009) Denmark Krone (60,851) (62,822) (1,971) 11/01/13 (5,949) Euro (8,176) (8,078) 98 11/01/13 (5,949) Euro (8,176) (8,078) 98 11/06/13 8,475 Euro 11,696 11,507 (189) 11/06/13 (79,207) Euro (104,136) (107,543) (3,407) 11/08/13 42,222 Euro 58,195 57,327 (868) 11/08/13 (82,005) Euro (110,998) (111,343) (345) 11/12/13 3,865 Euro 5,312 5,248 (64) 11/12/13 3,865 Euro 5,312 5,248 (64) 11/12/13 (76,481) Euro (101,029) (103,844) (2,815) 11/13/13 (75,731) Euro (100,400) (102,826) (2,426) 11/14/13 (57,778) Euro (78,474) (78,450) 24 11/21/13 8,496 Euro 11,737 11,536 (201) 11/21/13 (39,027) Euro (52,860) (52,991) (131) 11/21/13 (39,027) Euro (52,860) (52,991) (131) 11/22/13 (68,948) Euro (94,109) (93,618) 491 11/26/13 (6,676) Euro (9,166) (9,065) 101 11/26/13 (6,676) Euro (9,167) (9,065) 102 11/27/13 7,170 Euro 9,898 9,735 (163) 11/27/13 (26,785) Euro (36,870) (36,369) 501 11/27/13 (61,078) Euro (84,257) (82,933) 1,324 12/02/13 (42,934) Euro (57,975) (58,297) (322) 12/02/13 (42,934) Euro (57,977) (58,297) (320) 12/04/13 (54,792) Euro (74,442) (74,399) 43 11/26/13 (18,540) New Zealand Dollar (15,321) (15,291) 30 11/26/13 (21,936) New Zealand Dollar (18,694) (18,092) 602 11/26/13 (22,642) New Zealand Dollar (18,916) (18,674) 242 11/26/13 (63,370) New Zealand Dollar (53,724) (52,265) 1,459 11/18/13 (20,095) Singapore Dollar (16,239) (16,177) 62 11/18/13 (24,863) Singapore Dollar (20,116) (20,015) 101 11/18/13 (73,735) Singapore Dollar (59,127) (59,359) (232) 11/01/13 68,228 UK Pound Sterling 109,649 109,397 (252) 11/01/13 (68,228) UK Pound Sterling (109,418) (109,397) 21 11/04/13 84,251 UK Pound Sterling 135,355 135,088 (267) 11/04/13 11,144 UK Pound Sterling 18,003 17,869 (134) 11/04/13 (95,396) UK Pound Sterling (154,910) (152,957) 1,953 11/07/13 6,091 UK Pound Sterling 9,799 9,767 (32) 11/07/13 (88,519) UK Pound Sterling (143,293) (141,928) 1,365 11/18/13 (72,594) UK Pound Sterling (115,886) (116,385) (499) 11/21/13 (87,423) UK Pound Sterling (139,251) (140,156) (905) 11/22/13 (74,892) UK Pound Sterling (119,909) (120,066) (157) 11/27/13 (69,028) UK Pound Sterling (111,501) (110,661) 840 12/02/13 (68,165) UK Pound Sterling (109,521) (109,273) 248 12/05/13 (84,536) UK Pound Sterling (135,782) (135,514) 268 ----------- ----------- ------- $(2,091,308) $(2,099,159) $(7,851) =========== =========== ======= 118 DFA WORLD EX U.S. GOVERNMENT FIXED INCOME PORTFOLIO* UNREALIZED VALUE AT FOREIGN SETTLEMENT CURRENCY CONTRACT OCTOBER 31, EXCHANGE DATE AMOUNT** CURRENCY AMOUNT 2013 GAIN (LOSS) ---------- ---------- ------------------ --------- ----------- ----------- 11/25/13 (175) Canadian Dollar $ (166) $ (167) $ (1) 11/25/13 (2,041) Canadian Dollar (1,947) (1,957) (10) 11/25/13 (15,218) Canadian Dollar (14,767) (14,587) 180 11/22/13 (672) Denmark Krone (124) (122) 2 11/22/13 (48,409) Denmark Krone (8,862) (8,814) 48 11/01/13 (156) Euro (215) (212) 3 11/15/13 1,158 Euro 1,568 1,573 5 11/15/13 (86) Euro (117) (117) -- 11/15/13 (322) Euro (428) (437) (9) 11/15/13 (599) Euro (810) (813) (3) 11/15/13 (686) Euro (916) (931) (15) 11/15/13 (780) Euro (1,054) (1,059) (5) 11/15/13 (804) Euro (1,110) (1,091) 19 11/15/13 (998) Euro (1,356) (1,355) 1 11/15/13 (1,429) Euro (1,927) (1,940) (13) 11/15/13 (73,856) Euro (98,069) (100,280) (2,211) 11/01/13 3,282,570 Japanese Yen 33,497 33,384 (113) 11/01/13 10,884 Japanese Yen 113 111 (2) 11/01/13 (37,881) Japanese Yen (385) (385) -- 11/01/13 (44,795) Japanese Yen (447) (456) (9) 11/01/13 (60,039) Japanese Yen (607) (611) (4) 11/01/13 (166,593) Japanese Yen (1,676) (1,694) (18) 11/01/13 (2,984,146) Japanese Yen (30,040) (30,348) (308) 01/29/14 (3,299,167) Japanese Yen (33,686) (33,571) 115 11/21/13 (12) New Zealand Dollar (10) (10) -- 11/21/13 (102) New Zealand Dollar (84) (84) -- 11/21/13 (6,328) New Zealand Dollar (5,284) (5,221) 63 11/19/13 (22,073) Norwegian Krone (3,728) (3,706) 22 11/29/13 (11,621) Singapore Dollar (9,397) (9,355) 42 11/26/13 (200) Swedish Krona (31) (31) -- 11/26/13 (20,311) Swedish Krona (3,182) (3,133) 49 11/25/13 364 UK Pound Sterling 588 583 (5) 11/25/13 (428) UK Pound Sterling (688) (686) 2 11/25/13 (502) UK Pound Sterling (802) (805) (3) 11/25/13 (812) UK Pound Sterling (1,301) (1,301) -- 11/25/13 (27,675) UK Pound Sterling (44,396) (44,367) 29 --------- --------- ------- $(231,846) $(233,995) $(2,149) ========= ========= ======= DFA SHORT-TERM EXTENDED QUALITY PORTFOLIO* UNREALIZED VALUE AT FOREIGN SETTLEMENT CURRENCY CONTRACT OCTOBER 31, EXCHANGE DATE AMOUNT** CURRENCY AMOUNT 2013 GAIN (LOSS) ---------- -------- ----------------- --------- ----------- ----------- 12/02/13. (30,162) Euro $ (41,607) $ (40,956) $ 651 11/18/13. (9,831) Singapore Dollar (7,886) (7,914) (28) 11/07/13. (41,761) UK Pound Sterling (67,585) (66,958) 627 --------- --------- ------ $(117,078) $(115,828) $1,250 ========= ========= ====== 119 DFA INTERMEDIATE-TERM EXTENDED QUALITY PORTFOLIO* UNREALIZED VALUE AT FOREIGN SETTLEMENT CURRENCY CONTRACT OCTOBER 31, EXCHANGE DATE AMOUNT** CURRENCY AMOUNT 2013 GAIN (LOSS) ---------- -------- -------- -------- ----------- ----------- 11/18/13 (148) Euro $ (201) $ (201) $ -- 11/18/13 (10,852) Euro (14,721) (14,734) (13) -------- -------- ---- $(14,922) $(14,935) $(13) ======== ======== ==== * During the year ended October 31, 2013, the following Portfolios' average contract amount of forward currency contracts were (in thousands): DFA Two-Year Global Fixed Income Portfolio........... $3,821,946 DFA Selectively Hedged Global Fixed Income Portfolio. 324,410 DFA Five-Year Global Fixed Income Portfolio.......... 2,879,463 DFA World ex U.S. Government Fixed Income Portfolio.. 227,094 DFA Short-Term Extended Quality Portfolio............ 109,964 DFA Intermediate-Term Extended Quality Portfolio..... 14,699 **Positive Currency Amount represents a purchase contract and a Currency Amount in parentheses represents a sale contract. Risks may arise upon entering into these contracts from the potential inability of counterparties to meet the terms of their contracts and from unanticipated movements in the value of foreign currency relative to the U.S. dollar. The following is a summary of the location of derivatives on the Portfolios' Statements of Assets and Liabilities as of October 31, 2013: LOCATION ON THE STATEMENTS OF ASSETS AND LIABILITIES --------------------------------------------------- DERIVATIVE TYPE ASSET DERIVATIVES LIABILITY DERIVATIVES --------------- ------------------------ ------------------------ Foreign exchange Unrealized Gain on Unrealized Loss on contracts Forward Currency Forward Currency Contracts Contracts The following is a summary of the Portfolios' derivative instrument holdings categorized by primary risk exposure as of October 31, 2013 (amounts in thousands): ASSET DERIVATIVES VALUE --------------------------- FOREIGN EXCHANGE CONTRACTS --------------------------- DFA Two-Year Global Fixed Income Portfolio........... $ 16,872 DFA Selectively Hedged Global Fixed Income Portfolio. 3,159 DFA Five-Year Global Fixed Income Portfolio.......... 9,973 DFA World ex U.S. Government Fixed Income Portfolio.. 580 DFA Short-Term Extended Quality Portfolio............ 1,278 LIABILITY DERIVATIVES VALUE --------------------------- FOREIGN EXCHANGE CONTRACTS --------------------------- DFA Two-Year Global Fixed Income Portfolio........... $(27,464) DFA Selectively Hedged Global Fixed Income Portfolio. (3,860) DFA Five-Year Global Fixed Income Portfolio.......... (17,824) DFA World ex U.S. Government Fixed Income Portfolio.. (2,729) DFA Short-Term Extended Quality Portfolio............ (28) DFA Intermediate-Term Extended Quality Portfolio..... (13) 120 The following is a summary of the location on the Portfolios' Statements of Operations of realized and change in unrealized gains and losses from the Portfolios' derivative instrument holdings through the year ended October 31, 2013: DERIVATIVE TYPE LOCATION OF GAIN (LOSS) ON DERIVATIVES RECOGNIZED IN INCOME --------------- ----------------------------------------------------------- Foreign exchange contracts Net Realized Gain (Loss) on: Foreign Currency Transactions Change in Unrealized Appreciation (Depreciation) of: Translation of Foreign Currency Denominated Amounts The following is a summary of the realized and change in unrealized gains and losses from the Portfolios' derivative instrument holdings categorized by primary risk exposure through the year ended October 31, 2013 (amounts in thousands): REALIZED GAIN (LOSS) ON DERIVATIVES RECOGNIZED IN INCOME -------------------------------- FOREIGN EXCHANGE CONTRACTS -------------------------------- DFA Two-Year Global Fixed Income Portfolio........... $(59,263) DFA Selectively Hedged Global Fixed Income Portfolio. (3,817) DFA Five-Year Global Fixed Income Portfolio.......... (78,477) DFA World ex U.S. Government Fixed Income Portfolio.. 1,388 DFA Short-Term Extended Quality Portfolio............ (6,271) DFA Intermediate-Term Extended Quality Portfolio..... (1,243) CHANGE IN UNREALIZED APPRECIATION (DEPRECIATION) ON DERIVATIVES RECOGNIZED IN INCOME -------------------------------- FOREIGN EXCHANGE CONTRACTS -------------------------------- DFA Two-Year Global Fixed Income Portfolio........... $ 9,682 DFA Selectively Hedged Global Fixed Income Portfolio. 2,701 DFA Five-Year Global Fixed Income Portfolio.......... 21,300 DFA World ex U.S. Government Fixed Income Portfolio.. (471) DFA Short-Term Extended Quality Portfolio............ 3,202 DFA Intermediate-Term Extended Quality Portfolio..... 603 H. LINE OF CREDIT: The Fund, together with other Dimensional-advised portfolios, entered into a $250 million unsecured discretionary line of credit effective June 22, 2011 with The Bank of New York Mellon, which was terminated by The Bank of New York Mellon effective March 29, 2013. Prior to termination, each portfolio was permitted to borrow, subject to its investment limitations, up to a maximum of $250 million, as long as total borrowings under the line of credit did not exceed $250 million in the aggregate. Borrowings under the line of credit were charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio was individually, and not jointly, liable for its particular advances under the line of credit. There was no commitment fee on the unused portion of the line of credit. The Fund, together with other Dimensional-advised portfolios, has entered into a $500 million unsecured discretionary line of credit effective March 4, 2013 with its domestic custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. There is no commitment fee on the unused portion of the line of credit. The agreement for the discretionary line of credit may be terminated by either party at any time. The line of credit is scheduled to expire on March 3, 2014. 121 The Fund, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit effective January 11, 2013 with its international custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. There is no commitment fee on the unused portion of the line of credit. The agreement for the line of credit expires on January 10, 2014. For the year ended October 31, 2013, borrowings by the Portfolios under the lines of credit were as follows (amounts in thousands, except percentages and days): WEIGHTED WEIGHTED NUMBER OF INTEREST MAXIMUM AMOUNT AVERAGE AVERAGE DAYS EXPENSE BORROWED DURING INTEREST RATE LOAN BALANCE OUTSTANDING* INCURRED THE PERIOD ------------- ------------ ------------ -------- --------------- DFA One-Year Fixed Income Portfolio...... 0.83% $61,526 1 $ 1 $61,526 DFA Investment Grade Portfolio........... 0.87% 1,876 9 -- 7,875 DFA California Short-Term Municipal Bond Portfolio.............................. 0.85% 12,430 1 -- 12,430 * Number of Days Outstanding represents the total of single or consecutive days during the year ended October 31, 2013, that each Portfolio's available line of credit was utilized. At October 31, 2013 only the DFA One-year Fixed Income Portfolio had outstanding borrowings under the lines of credit of $61,526 (in thousands) I. SECURITIES LENDING: As of October 31, 2013, some of the Portfolios had securities on loan to brokers/dealers, for which each such Portfolio received cash collateral. Each Portfolio with securities on loan invests the cash collateral, as described below, and records a liability for the return of the collateral, during the period the securities are on loan. Loans of securities are expected at all times to be secured by collateral equal to at least (i) 100% of the current market value of the loaned securities with respect to securities of the U.S. government or its agencies, (ii) 102% of the current market value of the loaned securities with respect to U.S. securities, and (iii) 105% of the current market value of the loaned securities with respect to foreign securities. However, daily market fluctuations could cause the Portfolios' collateral to be lower or higher than the expected thresholds. If this were to occur, the collateral would be adjusted the next business day to ensure adequate collateralization. In the event of default or bankruptcy by the other party to the agreement, realization and/or retention of the collateral may be subject to legal proceedings. If the borrower fails to return loaned securities, and cash collateral being maintained by the borrower is insufficient to cover the value of loaned securities and provided such collateral insufficiency is not the result of investment losses, the lending agent has agreed to pay the amount of the shortfall to the Portfolio or, at the option of the lending agent, to replace the securities. Subject to their stated investment policies, the Portfolios with securities on loan will generally invest the cash collateral received for the loaned securities in The DFA Short Term Investment Fund (the "Money Market Series"), an affiliated registered money market fund advised by the Advisor for which the Advisor receives a management fee of 0.05% of the average daily net assets of the Money Market Series. Such Portfolios also may invest the cash collateral received for the loaned securities in securities of the U.S. government or its agencies, repurchase agreements collateralized by securities of the U.S. government or its agencies, and affiliated and unaffiliated registered and unregistered money market funds. For purposes of this paragraph, agencies include both agency debentures and agency mortgage-backed securities. In addition, each Portfolio with securities on loan will be able to terminate the loan at any time and will receive reasonable interest on the loan, as well as amounts equal to any dividends, interest or other distributions on the loaned securities. However, dividend income received from loaned securities may not be eligible to be taxed at qualified dividend income rates. 122 J. INDEMNITEES; CONTRACTUAL OBLIGATIONS: Under the Fund's organizational documents, its officers and directors are indemnified against certain liabilities arising out of the performance of their duties to the Fund. In the normal course of business, the Fund enters into contracts that contain a variety of representations and warranties which provide general indemnification. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund and/or its affiliates that have not yet occurred. However, based on experience, the Fund expects the risk of loss to be remote. K. RECENTLY ISSUED ACCOUNTING STANDARDS: In January 2013, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") No. 2013-01 "Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities" ("ASU 2013-01") which amended Accounting Standards Codification Subtopic 210-20, Balance Sheet Offsetting. ASU 2013-01 clarified the scope of ASU No. 2011-11 "Disclosures about Offsetting Assets and Liabilities" ("ASU 2011-11"). ASU 2011-11 requires an entity to disclose information about offsetting and related arrangements to enable users of that entity's financial statements to understand the effect of those arrangements on its financial position. ASU 2013-01 clarifies the scope of ASU 2011-11 as applying to derivatives accounted for in accordance with Topic 815, Derivatives and Hedging, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are offset either in accordance with other requirements of GAAP or subject to an enforceable master netting arrangement or similar agreement. ASU No. 2011-11 is effective for annual periods beginning on or after January 1, 2013, and interim periods within those annual periods. Management is evaluating any impact ASU No. 2011-11 may have on the financial statements. L. OTHER: At October 31, 2013, the following number of shareholders held the following approximate percentages of the stated fund outstanding shares. One or more of the shareholders may be omnibus accounts, which typically hold shares for the benefit of several other underlying investors. APPROXIMATE PERCENTAGE NUMBER OF OF OUTSTANDING SHAREHOLDERS SHARES - ------------ -------------- DFA One-Year Fixed Income Portfolio....................... 3 59% DFA Two-Year Global Fixed Income Portfolio................ 4 87% DFA Selectively Hedged Global Fixed Income Portfolio...... 4 88% DFA Short-Term Government Portfolio....................... 4 77% DFA Five-Year Global Fixed Income Portfolio............... 3 77% DFA World ex U.S. Government Fixed Income Portfolio....... 5 93% DFA Intermediate Government Fixed Income Portfolio........ 4 87% DFA Short-Term Extended Quality Portfolio................. 5 85% DFA Intermediate-Term Extended Quality Portfolio.......... 4 85% DFA Investment Grade Portfolio............................ 4 92% DFA Inflation-Protected Securities Portfolio.............. 3 67% DFA Short-Term Municipal Bond Portfolio................... 5 94% DFA Intermediate-Term Municipal Bond Portfolio............ 4 98% DFA California Short-Term Municipal Bond Portfolio........ 3 94% DFA California Intermediate-Term Municipal Bond Portfolio. 3 96% M. SUBSEQUENT EVENT EVALUATIONS: On December 13, 2013, the Board of DFAIDG voted to approve the combination of the Investment Advisory Agreement and the Administration Agreement (together, the "Current Agreements") into a bundled Investment Management Agreement for each of the following two Portfolios: the DFA One-Year Fixed Income Portfolio and the 123 DFA Two-Year Global Fixed Income Portfolio. It is expected that each Investment Management Agreement will become effective on February 28, 2014. The nature and level of services to the Portfolios under the Investment Management Agreements will be the same as under the Current Agreements. When the Investment Management Agreements become effective, each Portfolio will pay the Advisor an investment management fee that is equal to the sum of the current investment advisory fee and current administration fee that is paid by the Portfolio to the Advisor under the Current Agreements. Management has evaluated the impact of all subsequent events on the Portfolios and has determined that there are no other subsequent events requiring recognition or disclosure in the financial statements. 124 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM TO THE SHAREHOLDERS OF THE PORTFOLIOS, AS DEFINED, AND BOARD OF DIRECTORS OF DFA INVESTMENT DIMENSIONS GROUP INC.: In our opinion, the accompanying statements of assets and liabilities, including the schedules of investments, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of DFA One-Year Fixed Income Portfolio, DFA Two-Year Global Fixed Income Portfolio, DFA Selectively Hedged Global Fixed Income Portfolio, DFA Short-Term Government Portfolio, DFA Five-Year Global Fixed Income Portfolio, DFA World ex U.S. Government Fixed Income Portfolio, DFA Intermediate Government Fixed Income Portfolio, DFA Short-Term Extended Quality Portfolio, DFA Intermediate- Term Extended Quality Portfolio, DFA Investment Grade Portfolio, DFA Inflation-Protected Securities Portfolio, DFA Short-Term Municipal Bond Portfolio, DFA Intermediate-Term Municipal Bond Portfolio, DFA California Short-Term Municipal Bond Portfolio, and DFA California Intermediate-Term Municipal Bond Portfolio (constituting portfolios within DFA Investment Dimensions Group Inc., hereafter referred to as the "Portfolios") at October 31, 2013, the results of each of their operations for the year then ended, the changes in each of their net assets and the financial highlights for each of the periods indicated, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as "financial statements") are the responsibility of the Portfolios' 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, 2013 by correspondence with the custodians, brokers, and the transfer agents of the investee funds provide a reasonable basis for our opinion. PricewaterhouseCoopers LLP Philadelphia, Pennsylvania December 20, 2013 125 FUND MANAGEMENT (UNAUDITED) TRUSTEES/DIRECTORS Each Board of Trustees/Directors (each, the "Board" and collectively, the "Boards") of The DFA Investment Trust Company ("DFAITC"), DFA Investment Dimensions Group Inc. ("DFAIDG"), Dimensional Investment Group Inc. ("DIG") and Dimensional Emerging Markets Value Fund ("DEM") (each, the "Fund" and collectively, the "Funds") is responsible for establishing the Funds' policies and for overseeing the management of the Funds. The Trustees/Directors of the Funds, including all of the disinterested Trustees/Directors, have adopted written procedures to monitor potential conflicts of interest that might develop between portfolios of the Funds (the "Feeder Portfolios") that invest in certain series of DFAITC or DEM (the "Master Funds"). Each Board has three standing committees, an Audit Committee, a Nominating Committee, and an Investment Review Committee (the "Review Committee"). The Audit Committee is comprised of George M. Constantinides, Roger G. Ibbotson and Abbie J. Smith. Each member of the Audit Committee is a disinterested Trustee/Director. The Audit Committee oversees the Fund's accounting and financial reporting policies and practices, the Fund's internal controls, the Fund's financial statements and the independent audits thereof and performs other oversight functions as requested by the Board. The Audit Committee recommends the appointment of each Fund's independent registered certified public accounting firm and also acts as a liaison between the Fund's independent registered certified public accounting firm and the full Board. There were two Audit Committee meetings held during the fiscal year ended October 31, 2013. Each Board's Nominating Committee is comprised of George M. Constantinides, John P. Gould, Roger G. Ibbotson, Myron S. Scholes, Edward P. Lazear and Abbie J. Smith. Each member of the Nominating Committee is a disinterested Trustee/Director. The Nominating Committee for each Board makes recommendations for nominations of disinterested and interested members on the Board to the full Board. The Nominating Committee evaluates a candidate's qualification for Board membership and the independence of such candidate from the Advisor and other principal service providers. There was one Nominating Committee meeting held during the fiscal year ended October 31, 2013. Each Board's Review Committee consists of both interested and disinterested Trustees/Directors. The Review Committee is comprised of John P. Gould, Edward P. Lazear, Myron S. Scholes and Eduardo A. Repetto. The Review Committee assists the Board in carrying out its fiduciary duties with respect to the oversight of the Fund and its performance. At the request of the Board or the Advisor, the Review Committee may (i) review the design of possible new series of the Fund, (ii) review performance of existing portfolios of the Fund and discuss and recommend possible enhancements to the portfolios' investment strategies, (iii) review proposals by the Advisor to modify or enhance the investment strategies or policies of each portfolio, and (iv) consider issues relating to investment services for each portfolio of the Fund. The Review Committee was formed on December 17, 2010, and there were two Review Committee meetings held during the fiscal year ended October 31, 2013. Certain biographical information for each disinterested Trustee/Director and each interested Trustee/Director of the Funds is set forth in the tables below, including a description of each Trustee/Director's experience as a Trustee/ Director of the Funds and as a director or trustee of other funds, as well as other recent professional experience. The statements of additional information (together, "SAI") of the Funds include additional information about each Trustee/Director. You may obtain copies of the SAI and prospectus of each Fund advised by Dimensional Fund Advisors LP by calling collect (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746. Prospectuses are also available at www.dimensional.com. 126 NAME, POSITION PORTFOLIOS WITHIN THE PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS WITH THE FUND, TERM OF OFFICE/1/ AND DFA FUND COMPLEX/2/ AND OTHER DIRECTORSHIPS OF PUBLIC COMPANIES ADDRESS AND YEAR OF BIRTH LENGTH OF SERVICE OVERSEEN HELD ------------------------------------------------------------------------------------------------------------------------------- DISINTERESTED TRUSTEES/DIRECTORS ------------------------------------------------------------------------------------------------------------------------------- George M. Constantinides Since Inception 106 portfolios in 4 Leo Melamed Professor of Finance, The University Director of DFAIDG and DIG. investment companies of Chicago Booth School of Business. Trustee of DFAITC and DEM. The University of Chicago Booth School of Business 5807 S. Woodlawn Avenue Chicago, IL 60637 1947 ------------------------------------------------------------------------------------------------------------------------------- John P. Gould Since Inception 106 portfolios in 4 Steven G. Rothmeier Distinguished Service Director of DFAIDG and DIG. investment companies Professor of Economics, The University of Chicago Trustee of DFAITC and DEM. Booth School of Business (since 1965). Member The University of Chicago and Chair, Competitive Markets Advisory Booth School of Business Committee, Chicago Mercantile Exchange (futures 5807 S. Woodlawn Avenue trading exchange) (since 2004). Formerly, Director Chicago, IL 60637 of UNext, Inc. (1999-2006). Trustee, Harbor Fund 1939 (registered investment company) (30 Portfolios) (since 1994). Formerly, Member of the Board of Milwaukee Mutual Insurance Company (1997- 2010). ------------------------------------------------------------------------------------------------------------------------------- Roger G. Ibbotson Since Inception 106 portfolios in 4 Professor in Practice of Finance, Yale School of Director of DFAIDG and DIG. investment companies Management (since 1984). Chairman, CIO and Trustee of DFAITC and DEM. Partner, Zebra Capital Management, LLC (hedge Yale School of Management fund manager) (since 2001). Consultant to P.O. Box 208200 Morningstar, Inc. (since 2006). Formerly, New Haven, CT 06520-8200 Chairman, Ibbotson Associates, Inc., Chicago, IL 1943 (software data publishing and consulting) (1977- 2006). Formerly, Director, BIRR Portfolio Analysis, Inc. (software products) (1990-2010). ------------------------------------------------------------------------------------------------------------------------------- Edward P. Lazear Since Inception 106 portfolios in 4 Morris Arnold Cox Senior Fellow, Hoover Institution Director of DFAIDG and DIG. investment companies (since 2002). Jack Steele Parker Professor of Trustee of DFAITC and DEM. Human Resources Management and Economics, Stanford University Graduate School of Business, Stanford University Graduate School of Business (since 1995). Cornerstone Research (expert 518 Memorial Way testimony and economic and financial analysis) Stanford, CA 94305-5015 (since 2009). Formerly, Chairman of the President 1948 George W. Bush's Council of Economic Advisers (2006-2009). Formerly, Council of Economic Advisors, State of California (2005-2006). Formerly, Commissioner, White House Panel on Tax Reform (2005). ------------------------------------------------------------------------------------------------------------------------------- Myron S. Scholes Since Inception 106 portfolios in 4 Frank E. Buck Professor Emeritus of Finance, Director of DFAIDG and DIG. investment companies Stanford University (since 1981). Formerly, Trustee of DFAITC and DEM. Chairman, Platinum Grove Asset Management, c/o Dimensional Fund L.P. (hedge fund) (formerly, Oak Hill Platinum Advisors, LP Partners) (1999-2009). Formerly, Managing 6300 Bee Cave Road Partner, Oak Hill Capital Management (private Building 1 equity firm) (until 2004). Director, American Austin, TX 78746 Century Fund Complex (registered investment 1941 companies) (40 Portfolios) (since 1980). Formerly, Director, Chicago Mercantile Exchange (2001- 2008). ------------------------------------------------------------------------------------------------------------------------------- Abbie J. Smith Since Inception 106 portfolios in 4 Boris and Irene Stern Distinguished Service Director of DFAIDG and DIG. investment companies Professor of Accounting, The University of Chicago Trustee of DFAITC and DEM. Booth School of Business (since 1980). Co- The University of Chicago Director Investment Research, Fundamental Booth School of Business Investment Advisors (hedge fund) (since 2008). 5807 S. Woodlawn Avenue Director, HNI Corporation (formerly known as HON Chicago, IL 60637 Industries Inc.) (office furniture) (since 2000). 1953 Director, Ryder System Inc. (transportation, logistics and supply-chain management) (since 2003). Trustee, UBS Funds (4 investment companies within the fund complex) (52 portfolios) (since 2009). ------------------------------------------------------------------------------------------------------------------------------- 127 NAME, POSITION PORTFOLIOS WITHIN THE WITH THE FUND, TERM OF OFFICE/1/ AND DFA FUND COMPLEX/2/ PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS AND ADDRESS AND YEAR OF BIRTH LENGTH OF SERVICE OVERSEEN OTHER DIRECTORSHIPS OF PUBLIC COMPANIES HELD ------------------------------------------------------------------------------------------------------------------------------- INTERESTED TRUSTEES/DIRECTORS* ------------------------------------------------------------------------------------------------------------------------------- David G. Booth Since Inception 106 portfolios in 4 Chairman, Director/Trustee, President, and Co-Chief Chairman, Director, investment companies Executive Officer (since January 2010) of Co-Chief Executive Dimensional Holdings Inc., Dimensional Fund Officer and President of Advisors LP, DFA Securities LLC, DEM, DFAIDG, DFAIDG and DIG. DIG and DFAITC. Director of Dimensional Fund Chairman, Trustee, Advisors Ltd., Dimensional Funds PLC, Dimensional Co-Chief Executive Funds II PLC, DFA Australia Limited, Dimensional Officer and President of Cayman Commodity Fund I Ltd., Dimensional Japan DFAITC and DEM. Ltd. and Dimensional Advisors Ltd. Chairman, 6300 Bee Cave Road, Director and Co-Chief Executive Officer of Building One Austin, Dimensional Fund Advisors Canada ULC. President, Texas 78746 Dimensional SmartNest (US) LLC. Limited Partner, 1946 Oak Hill Partners (since 2001) and VSC Investors, LLC (since 2007). Trustee, The University of Chicago. Trustee, University of Kansas Endowment Association. Formerly, Chief Executive Officer (until 2010) and Chief Investment Officer (2003-2007) of Dimensional Fund Advisors LP, DFA Securities LLC, DEM, DFAIDG, DIG , DFAITC, Dimensional Holdings Inc. Formerly, Chief Investment Officer of Dimensional Fund Advisors Ltd. Formerly, President and Chief Investment Officer of DFA Australia Limited. Formerly, Director, SA Funds (registered investment company). ------------------------------------------------------------------------------------------------------------------------------- Eduardo A. Repetto Since 2009 106 portfolios in 4 Co-Chief Executive Officer (since January 2010), Director, Co-Chief investment companies Chief Investment Officer (since March 2007) and Executive Officer and Director/Trustee of Dimensional Holdings Inc., Chief Investment Officer Dimensional Fund Advisors LP, DFA Securities LLC, of DFAIDG and DIG. DEM, DFAIDG, DIG, DFAITC and Dimensional Trustee, Co-Chief Cayman Commodity Fund I Ltd. Director, Co-Chief Executive Officer and Executive Officer, President and Chief Investment Chief Investment Officer Officer of Dimensional Fund Advisors Canada ULC. of DFAITC and DEM. Chief Investment Officer, Vice President and Director 6300 Bee Cave Road, of DFA Australia Limited. Director of Dimensional Building One Fund Advisors Ltd., Dimensional Funds PLC, Austin, TX 78746 Dimensional Funds II PLC, Dimensional Japan Ltd. 1967 and Dimensional Advisors Ltd., Formerly President of Dimensional Holdings Inc, Dimensional Fund Advisors LP, DFA Securities LLC, DEM, DFAIDG, DIG, DFAITC and Dimensional Fund Advisors Canada ULC. /1/ Each Trustee/Director holds office for an indefinite term until his or her successor is elected and qualified. /2/ Each Trustee/Director is a director or trustee of each of the four registered investment companies within the DFA Fund Complex, which includes the Funds. * Interested Trustees/Directors are described as such because they are deemed to be "interested persons," as that term is defined under the Investment Company Act of 1940, as amended, due to their positions with Dimensional Fund Advisors LP. 128 OFFICERS The name, year of birth, information regarding positions with the Funds and the principal occupation for each officer of the Funds are set forth below. Each officer listed below holds the same office (except as otherwise noted) in the following entities: Dimensional Fund Advisors LP (prior to November 3, 2006, Dimensional Fund Advisors Inc.) ("Dimensional"), Dimensional Holdings Inc., DFA Securities LLC (prior to April 6, 2009, DFA Securities Inc.), DFAIDG, DIG, DFAITC and DEM (collectively, the "DFA Entities"). The address of each officer is: Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, unless otherwise indicated. TERM OF OFFICE/1/ NAME, POSITION WITH THE FUND AND LENGTH OF AND YEAR OF BIRTH SERVICE PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS --------------------------------------------------------------------------------------------------------------------- OFFICERS --------------------------------------------------------------------------------------------------------------------- April A. Aandal Since 2008 Vice President of all the DFA Entities. Vice President 1963 --------------------------------------------------------------------------------------------------------------------- Robyn G. Alcorta Since 2012 Vice President of all the DFA Entities. Formerly, Vice President Vice President Business Development at Capson Physicians Insurance Company 1974 (2010-2012); Vice President at Charles Schwab (2007-2010). --------------------------------------------------------------------------------------------------------------------- Darryl D. Avery Since 2005 Vice President of all the DFA Entities. Vice President 1966 --------------------------------------------------------------------------------------------------------------------- Arthur H. Barlow Since 1993 Vice President of all the DFA Entities. Director and Managing Vice President Director of DFAL (since September 2013). 1955 --------------------------------------------------------------------------------------------------------------------- Scott A. Bosworth Since 2007 Vice President of all the DFA Entities. Vice President 1968 --------------------------------------------------------------------------------------------------------------------- Valerie A. Brown Since 2001 Vice President and Assistant Secretary of all the DFA Entities, DFA Vice President and Assistant Australia Limited, Dimensional Fund Advisors Ltd., Dimensional Secretary Cayman Commodity Fund I Ltd., Dimensional Fund Advisors Pte. 1967 Ltd., Dimensional Hong Kong Limited. Director, Vice President and Assistant Secretary of Dimensional Fund Advisors Canada ULC. --------------------------------------------------------------------------------------------------------------------- David P. Butler Since 2007 Vice President of all the DFA Entities. Head of Global Financial Vice President Services of Dimensional (since 2008). 1964 --------------------------------------------------------------------------------------------------------------------- Douglas M. Byrkit Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (December 2010-January2012); Regional Director 1970 at Russell Investments (April 2006-December 2010). --------------------------------------------------------------------------------------------------------------------- James G. Charles Since 2011 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (2008-2010); Vice President, Client Portfolio 1956 Manager at American Century Investments (2001-2008). --------------------------------------------------------------------------------------------------------------------- Joseph H. Chi Since 2009 Vice President of all the DFA Entities. Co-Head of Portfolio Vice President Management of Dimensional (since March 2012). Sr. Portfolio 1966 Manager of Dimensional (since January 2012). Formerly, Portfolio Manager for Dimensional (October 2005-January 2012). --------------------------------------------------------------------------------------------------------------------- Stephen A. Clark Since 2004 Vice President of all the DFA Entities, DFA Australia Limited and Vice President Dimensional Fund Advisors Canada ULC. Head of Institutional, 1972 North America (since March 2012). Formerly, Head of Portfolio Management of Dimensional (January 2006-March 2012). --------------------------------------------------------------------------------------------------------------------- Matt B. Cobb Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since September 2011). Formerly, Vice President at 1971 MullinTBG 92005-2011). --------------------------------------------------------------------------------------------------------------------- Ryan Cooper Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since 2003). 1979 --------------------------------------------------------------------------------------------------------------------- Jeffrey D. Cornell Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (August 2002-January 2012). 1976 129 TERM OF OFFICE/1/ NAME, POSITION WITH THE FUND AND LENGTH OF AND YEAR OF BIRTH SERVICE PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS --------------------------------------------------------------------------------------------------------------------------- Robert P. Cornell Since 2007 Vice President of all the DFA Entities. Vice President 1949 --------------------------------------------------------------------------------------------------------------------------- George H. Crane Since 2010 Vice President of all the DFA Entities. Formerly, Senior Vice Vice President President and Managing Director at State Street Bank & Trust 1955 Company (2007-2008). --------------------------------------------------------------------------------------------------------------------------- Christopher S. Crossan Since 2004 Vice President and Global Chief Compliance Officer of all the DFA Vice President and Global Chief Entities, DFA Australia Limited, Dimensional Fund Advisors Ltd., Compliance Officer and Dimensional SmartNest (US) LLC. Chief Compliance Officer of 1965 Dimensional Fund Advisors Canada ULC. --------------------------------------------------------------------------------------------------------------------------- James L. Davis Since 1999 Vice President of all the DFA Entities. Vice President 1956 --------------------------------------------------------------------------------------------------------------------------- Robert T. Deere Since 1994 Vice President of all the DFA Entities, DFA Australia Limited and Vice President Dimensional Fund Advisors Canada ULC. 1957 --------------------------------------------------------------------------------------------------------------------------- Peter F. Dillard Since 2010 Vice President of all the DFA Entities. Research Associate for Vice President Dimensional (since August 2008). 1972 --------------------------------------------------------------------------------------------------------------------------- Robert W. Dintzner Since 2001 Vice President of all the DFA Entities. Vice President 1970 --------------------------------------------------------------------------------------------------------------------------- Richard A. Eustice Since 1998 Vice President and Assistant Secretary of all the DFA Entities and Vice President and Assistant DFA Australia Limited. Secretary 1965 --------------------------------------------------------------------------------------------------------------------------- Gretchen A. Flicker Since 2004 Vice President of all the DFA Entities. Vice President 1971 --------------------------------------------------------------------------------------------------------------------------- Jed S. Fogdall Since 2008 Vice President of all the DFA Entities. Co-Head of Portfolio Vice President Management of Dimensional (since March 2012). Sr. Portfolio 1974 Manager of Dimensional (since January 2012). --------------------------------------------------------------------------------------------------------------------------- Jeremy P. Freeman Since 2009 Vice President of all the DFA Entities. Senior Technology Manager Vice President for Dimensional (since June 2006). 1970 --------------------------------------------------------------------------------------------------------------------------- Mark R. Gochnour Since 2007 Vice President of all the DFA Entities. Vice President 1967 --------------------------------------------------------------------------------------------------------------------------- Tom M. Goodrum Since 2012 Vice President of all the DFA Entities. Formerly, Managing Director Vice President at BlackRock (2004-January 2012). 1968 --------------------------------------------------------------------------------------------------------------------------- Henry F. Gray Since 2000 Vice President of all the DFA Entities. Vice President 1967 --------------------------------------------------------------------------------------------------------------------------- John T. Gray Since 2007 Vice President of all the DFA Entities. Vice President 1974 --------------------------------------------------------------------------------------------------------------------------- Christian Gunther Since 2011 Vice President of all the DFA Entities. Senior Trader for Vice President Dimensional (since 2012). Formerly, Senior Trader for Dimensional 1975 Fund Advisors Ltd. (2009-2012); Trader for Dimensional Fund Ltd. (2008-2009); Trader for Dimensional (2004-2008). --------------------------------------------------------------------------------------------------------------------------- Joel H. Hefner Since 2007 Vice President of all the DFA Entities. Vice President 1967 --------------------------------------------------------------------------------------------------------------------------- Julie C. Henderson Since 2005 Vice President and Fund Controller of all the DFA Entities, Vice President and Fund Controller Dimensional Cayman Commodity Fund I Ltd. and Dimensional 1974 Japan Ltd. 130 TERM OF OFFICE/1/ NAME, POSITION WITH THE FUND AND LENGTH OF AND YEAR OF BIRTH SERVICE PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS ---------------------------------------------------------------------------------------------------------------------- Kevin B. Hight Since 2005 Vice President of all the DFA Entities. Vice President 1967 ---------------------------------------------------------------------------------------------------------------------- Christine W. Ho Since 2004 Vice President of all the DFA Entities. Vice President 1967 ---------------------------------------------------------------------------------------------------------------------- Michael C. Horvath Since 2011 Vice President of all the DFA Entities. Formerly, Managing Director, Vice President Co-Head Global Consultant Relations at BlackRock (2004-2011). 1960 ---------------------------------------------------------------------------------------------------------------------- William A. Irvine Since 2013 Vice President of all the DFA Entities, Regional Director For Vice President Dimensional (since 2012). Formerly, Vice President of Institutional 1957 Business Development at Eaton Vance (2005-2011). ---------------------------------------------------------------------------------------------------------------------- Jeff J. Jeon Since 2004 Vice President of all the DFA Entities and Dimensional Cayman Vice President Commodity Fund I Ltd. 1973 ---------------------------------------------------------------------------------------------------------------------- Stephen W. Jones Since 2012 Vice President of all the DFA Entities. Formerly, Facilities Manager Vice President 1968 for Dimensional (October 2008-January 2012). ---------------------------------------------------------------------------------------------------------------------- Patrick M. Keating Since 2003 Vice President and Chief Operating Officer of all the DFA Entities, Vice President Dimensional Cayman Commodity Fund I Ltd., Dimensional Japan 1954 Ltd., Dimensional Advisors Ltd., Dimensional Hong Kong Limited and Chief Operating Officer of Dimensional. Director, Vice President and Chief Privacy Officer of Dimensional Fund Advisors Canada ULC. Director of DFA Australia Limited, Dimensional Fund Advisors Ltd., Dimensional Japan Ltd. and Dimensional Advisors Ltd. Director and Vice President of Dimensional Hong Kong Limited and Dimensional Fund Advisors Pte. Ltd. ---------------------------------------------------------------------------------------------------------------------- Andrew K. Keiper Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since October 2004). 1977 ---------------------------------------------------------------------------------------------------------------------- Glenn E. Kemp Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional Fund Advisors LP (April 2006-January 2012). 1948 ---------------------------------------------------------------------------------------------------------------------- David M. Kershner Since 2010 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since June 2004). 1971 ---------------------------------------------------------------------------------------------------------------------- Timothy R. Kohn Since 2011 Vice President of all the DFA Entities. Head of Defined Contribution Vice President Sales for Dimensional (since August 2010). Formerly, Chief DC 1971 Strategist, Barclays Global Investors (2005-2009). ---------------------------------------------------------------------------------------------------------------------- Joseph F. Kolerich Since 2004 Vice President of all the DFA Entities. Sr. Portfolio Manager of Vice President Dimensional (since January 2012).Formerly, Portfolio Manager for 1971 Dimensional (April 2001-January 2012). ---------------------------------------------------------------------------------------------------------------------- Mark D. Krasniewski Since 2013 Vice President of all the DFA Entities. Formerly, Senior Associate Vice President Investment Analytics and Data for Dimensional (January 2012- 1981 December 2012); Systems Developer for Dimensional (June 2007- December 2011). ---------------------------------------------------------------------------------------------------------------------- Stephen W. Kurad Since 2011 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (2007-2010). 1968 ---------------------------------------------------------------------------------------------------------------------- Michael F. Lane Since 2004 Vice President of all the DFA Entities. Chief Executive Officer of Vice President Dimensional SmartNest (US) LLC (since 2012). 1967 ---------------------------------------------------------------------------------------------------------------------- 8Francis R. Lao Since 2011 Vice President of all the DFA Entities. Formerly, Vice President - Vice President Global Operations at Janus Capital Group (2005-2011). 1969 ---------------------------------------------------------------------------------------------------------------------- David F. LaRusso Since 2013 Vice President of all the DFA Entities. Formerly, Senior Trader for Vice President 1978 Dimensional (January 2010-December 2012); Trader for Dimensional (2000-2009). ---------------------------------------------------------------------------------------------------------------------- Juliet H. Lee Since 2005 Vice President of all the DFA Entities. Vice President 1971 131 TERM OF OFFICE/1/ NAME, POSITION WITH THE FUND AND LENGTH OF AND YEAR OF BIRTH SERVICE PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS --------------------------------------------------------------------------------------------------------------------------- Marlena I. Lee Since 2011 Vice President of all the DFA Entities. Formerly, Research Vice President Associate for Dimensional (July 2008-2010). 1980 --------------------------------------------------------------------------------------------------------------------------- John B. Lessley Since 2013 Vice President of all the DFA Entities. Regional Director Vice President for Dimensional (since January 2008). 1960 --------------------------------------------------------------------------------------------------------------------------- Apollo D. Lupescu Since 2009 Vice President of all the DFA Entities. Regional Director Vice President for Dimensional (since February 2004). 1969 --------------------------------------------------------------------------------------------------------------------------- Kenneth M. Manell Since 2010 Vice President of all the DFA Entities and Dimensional Vice President Cayman Commodity Fund I Ltd. Counsel for Dimensional (since 1972 September 2006). --------------------------------------------------------------------------------------------------------------------------- Rose C. Manziano Since 2013 Vice President of all the DFA Entities. Regional Director Vice President for Dimensional (Since August 2010). Formerly, Vice 1971 President, Sales and Business Development at AdvisorsIG (PPMG) (2009- 2010); Vice President at Credit Suisse (2007-2009). --------------------------------------------------------------------------------------------------------------------------- Aaron M. Marcus Since 2008 Vice President of all the DFA Entities and Head of Global Vice President & Head of Global Human Resources of Dimensional. Human Resources 1970 --------------------------------------------------------------------------------------------------------------------------- David R. Martin Since 2007 Vice President, Chief Financial Officer and Treasurer of Vice President, Chief Financial Officer all the DFA Entities. Director, Vice President, Chief and Treasurer Financial Officer and Treasurer of Dimensional Fund 1956 Advisors Ltd., DFA Australia Limited, Dimensional Advisors Ltd., Dimensional Fund Advisors Pte. Ltd., Dimensional Hong Kong Limited and Dimensional Fund Advisors Canada ULC. Chief Financial Officer, Treasurer, and Vice President of Dimensional SmartNest (US) LLC, and Dimensional Cayman Commodity Fund I Ltd. Director of Dimensional Funds PLC and Dimensional Funds II PLC. Statutory Auditor of Dimensional Japan Ltd. --------------------------------------------------------------------------------------------------------------------------- Matthew H. Miller Since 2013 Vice President of all the DFA Entities. Client Service Vice President Manager for Dimensional (Since 2012). Formerly, Regional 1978 Director for Dimensional (2008-2011; Senior Associate at Dimensional (2007-2010). --------------------------------------------------------------------------------------------------------------------------- Jonathan G. Nelson Since 2013 Vice President of all the DFA Entities. Manager, Investment Vice President Systems at Dimensional (Since 2011). Formerly, Project 1971 Manager for Dimensional (2007-2010). --------------------------------------------------------------------------------------------------------------------------- Catherine L. Newell Vice President since Vice President and Secretary of all the DFA Entities. Vice President and Secretary 1997 and Secretary Director, Vice President and Secretary of DFA Australia 1964 since 2000 Limited and Dimensional Fund Advisors Ltd. (since February 2002, April 1997 and May 2002, respectively). Vice President and Secretary of Dimensional Fund Advisors Canada ULC (since June 2003), Dimensional SmartNest (US) LLC, Dimensional Cayman Commodity Fund I Ltd., Dimensional Japan Ltd. (since February 2012), Dimensional Advisors Ltd. (since March 2012), Dimensional Fund Advisors Pte. Ltd. (since June 2012) and Dimensional Hong Kong Limited (since August 2012). Director, Dimensional Funds PLC and Dimensional Funds II PLC (since 2002 and 2006, respectively). Director of Dimensional Japan Ltd., Dimensional Advisors Ltd., Dimensional Fund Advisors Pte. Ltd. and Dimensional Hong Kong Limited (since August 2012 and July 2012). --------------------------------------------------------------------------------------------------------------------------- Pamela B. Noble Since 2011 Vice President of all the DFA Entities. Portfolio Manager Vice President for Dimensional (2008-2010). 1964 --------------------------------------------------------------------------------------------------------------------------- Selwyn J. Notelovitz Since 2012 Vice President of all DFA Entities. Deputy Chief Compliance Vice President Officer of Dimensional (since December 2012). Formerly 1961 Chief Compliance Officer of Wellington Management Company, LLP (2004-2011). --------------------------------------------------------------------------------------------------------------------------- Carolyn L. O Since 2010 Vice President of all the DFA Entities and Dimensional Vice President Cayman Commodity Fund I Ltd. Deputy General Counsel, Funds 1974 (since 2011). Counsel for Dimensional (2007-2011). 132 TERM OF OFFICE/1/ NAME, POSITION WITH THE FUND AND LENGTH OF AND YEAR OF BIRTH SERVICE PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS ----------------------------------------------------------------------------------------------------------------------- Gerard K. O'Reilly Since 2007 Vice President of all the DFA Entities. Vice President 1976 ----------------------------------------------------------------------------------------------------------------------- Daniel C. Ong Since 2009 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since July 2005). 1973 ----------------------------------------------------------------------------------------------------------------------- Kyle K. Ozaki Since 2010 Vice President of all the DFA Entities. Senior Compliance Officer for Vice President Dimensional (since January 2008). Formerly, Compliance Officer 1978 (February 2006-December 2007). ----------------------------------------------------------------------------------------------------------------------- Matthew A. Pawlak Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional Fund Advisors LP (since 2012). Formerly, Senior 1977 Consultant at Hewitt EnnisKnupp (June 2011-December 2011); Senior Investment Analyst and Consultant at Hewitt EnnisKnupp (July 2008-June 2011). ----------------------------------------------------------------------------------------------------------------------- Brian P. Pitre Since 2013 Vice President of all the DFA Entities. Counsel for Dimensional Vice President Fund Advisors LP (since 2009). Formerly, Vice President and 1976 Corporate Counsel at Mellon Capital Management (2006-2008). ----------------------------------------------------------------------------------------------------------------------- David A. Plecha Since 1993 Vice President of all the DFA Entities, DFA Australia Limited, Vice President Dimensional Fund Advisors Ltd. and Dimensional Fund Advisors 1961 Canada ULC. ----------------------------------------------------------------------------------------------------------------------- Allen Pu Since 2011 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since July 2006). 1970 ----------------------------------------------------------------------------------------------------------------------- Theodore W. Randall Since 2008 Vice President of all the DFA Entities. Formerly, Research Vice President Associate of Dimensional (2006-2008). 1973 ----------------------------------------------------------------------------------------------------------------------- Mark A. Regier Since 2013 Vice President of all the DFA Entities. Planning and Analysis Vice President Manager for Dimensional (since July 2007). 1969 ----------------------------------------------------------------------------------------------------------------------- Savina B. Rizova Since 2012 Vice President of all the DFA Entities. Formerly, Research Vice President Associate for Dimensional (June 2011-January 2012); Research 1981 Assistant for Dimensional (July 2004-August 2007). ----------------------------------------------------------------------------------------------------------------------- L. Jacobo Rodriguez Since 2005 Vice President of all the DFA Entities. Vice President 1971 ----------------------------------------------------------------------------------------------------------------------- Julie A. Saft Since 2010 Vice President of all the DFA Entities. Client Systems Manager for Vice President Dimensional (since July 2008). 1959 ----------------------------------------------------------------------------------------------------------------------- Walid A. Shinnawi Since 2010 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (March 2006-January 2010). 1961 ----------------------------------------------------------------------------------------------------------------------- Bruce A. Simmons Since 2009 Vice President of all the DFA Entities. Investment Operations Vice President Manager for Dimensional (since May 2007). 1965 ----------------------------------------------------------------------------------------------------------------------- Ted R. Simpson Since 2007 Vice President of all the DFA Entities. Vice President 1968 ----------------------------------------------------------------------------------------------------------------------- Bryce D. Skaff Since 2007 Vice President of all the DFA Entities. Vice President 1975 ----------------------------------------------------------------------------------------------------------------------- Andrew D. Smith Since 2011 Vice President of all the DFA Entities. Project Manager for Vice President Dimensional (2007-2010). 1968 ----------------------------------------------------------------------------------------------------------------------- Grady M. Smith Since 2004 Vice President of all the DFA Entities and Dimensional Fund Vice President Advisors Canada ULC. 1956 ----------------------------------------------------------------------------------------------------------------------- Carl G. Snyder Since 2000 Vice President of all the DFA Entities. Vice President 1963 133 TERM OF OFFICE/1/ NAME, POSITION WITH THE FUND AND LENGTH OF AND YEAR OF BIRTH SERVICE PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS --------------------------------------------------------------------------------------------------------------------- Lawrence R. Spieth Since 2004 Vice President of all the DFA Entities. Vice President 1947 --------------------------------------------------------------------------------------------------------------------- Bradley G. Steiman Since 2004 Vice President of all the DFA Entities and Director and Vice Vice President President of Dimensional Fund Advisors Canada ULC. 1973 --------------------------------------------------------------------------------------------------------------------- Richard H. Tatlow Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since April 2010). Formerly, Principal, Investment 1971 Strategist at Barclays Global Investors (2004-2009). --------------------------------------------------------------------------------------------------------------------- Blake T. Tatsuta Since 2013 Vice President of all the DFA Entities, Manager, Investment Vice President Analytics and Data for Dimensional (since 2012). Formerly, 1973 Research Assistant at Dimensional (2002-2011). --------------------------------------------------------------------------------------------------------------------- Erik T. Totten Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since 2010). Formerly, Senior Associate at 1980 Dimensional (2007-2009). --------------------------------------------------------------------------------------------------------------------- John H. Totten Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (January 2008-January 2012). 1978 --------------------------------------------------------------------------------------------------------------------- Robert C. Trotter Since 2009 Vice President of all the DFA Entities. Senior Manager, Technology Vice President for Dimensional (since March 2007). 1958 --------------------------------------------------------------------------------------------------------------------- Karen E. Umland Since 1997 Vice President of all the DFA Entities, DFA Australia Limited, Vice President Dimensional Fund Advisors Ltd., and Dimensional Fund Advisors 1966 Canada ULC. --------------------------------------------------------------------------------------------------------------------- Brian J. Walsh Since 2009 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since 2004). 1970 --------------------------------------------------------------------------------------------------------------------- Weston J. Wellington Since 1997 Vice President of all the DFA Entities. Vice President 1951 --------------------------------------------------------------------------------------------------------------------- Ryan J. Wiley Since 2007 Vice President of all the DFA Entities. Vice President 1976 --------------------------------------------------------------------------------------------------------------------- Paul E. Wise Since 2005 Vice President of all the DFA Entities. Vice President 1955 --------------------------------------------------------------------------------------------------------------------- Joseph L. Young Since 2011 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (2005-2010). 1978 /1/ Each officer holds office for an indefinite term at the pleasure of the Boards of Trustees/Directors and until his or her successor is elected and qualified. 134 VOTING PROXIES ON FUND PORTFOLIO SECURITIES A description of the policies and procedures that the Fund uses in voting proxies relating to securities held in the portfolio is available without charge, upon request, by calling collect: (512) 306-7400. Information regarding how the Advisor votes these proxies is available from the EDGAR database on the SEC's website at http://www.sec.gov and from the Advisor's website at http://www.dimensional.com and reflects the twelve-month period beginning July 1st and ending June 30th. 135 NOTICE TO SHAREHOLDERS (UNAUDITED) For shareholders that do not have an October 31, 2013 tax year end, this notice is for informational purposes only. For shareholders with an October 31, 2013 tax year end, please consult your tax advisor as to the pertinence of this notice. For the fiscal year November 1, 2012 to October 31, 2013, each Portfolio is designating the following items with regard to distributions paid during the fiscal year. All designations are based on financial information available as of the date of this annual report and, accordingly are subject to change. For each item, it is the intention of the Portfolio to designate the maximum amount permitted under the Internal Revenue Code and the regulations thereunder. NET INVESTMENT SHORT-TERM LONG-TERM RETURN U.S. INCOME CAPITAL GAIN CAPITAL GAIN OF TAX-EXEMPT TOTAL GOVERNMENT DFA INVESTMENT DIMENSIONS GROUP INC. DISTRIBUTIONS DISTRIBUTIONS DISTRIBUTIONS CAPITAL INTEREST DISTRIBUTIONS INTEREST (1) ------------------------------------ ------------- ------------- ------------- ------- ---------- ------------- ------------ DFA One-Year Fixed Income Portfolio...... 65% 20% 15% -- -- 100% 7% DFA Two-Year Global Fixed Income Portfolio............................... 81% 16% 2% -- -- 100% 1% DFA Selectively Hedged Global Fixed Income Portfolio........................ 97% 3% -- -- -- 100% -- DFA Short-Term Government Portfolio...... 49% 2% 49% -- -- 100% 84% DFA Five-Year Global Fixed Income Portfolio............................... 51% 14% 35% -- -- 100% -- DFA World ex U.S. Government Fixed Income Portfolio........................ 66% 34% -- -- -- 100% 1% DFA Intermediate Government Fixed Income Portfolio........................ 94% -- 6% -- -- 100% 96% DFA Short-Term Extended Quality Portfolio............................... 90% -- 10% -- -- 100% -- DFA Intermediate-Term Extended Quality Portfolio............................... 98% -- 2% -- -- 100% 3% DFA Investment Grade Portfolio........... 97% -- 3% -- -- 100% -- DFA Inflation-Protected Securities Portfolio............................... 78% 1% 21% -- -- 100% 92% DFA Short-Term Municipal Bond Portfolio............................... -- -- -- -- 100% 100% -- DFA Intermediate-Term Municipal Bond Portfolio............................... -- -- -- -- 100% 100% -- DFA California Short-Term Municipal Bond Portfolio............................... -- -- -- -- 100% 100% -- QUALIFYING SHORT- FOREIGN FOREIGN QUALIFYING TERM TAX SOURCE INTEREST CAPITAL DFA INVESTMENT DIMENSIONS GROUP INC. CREDIT (2) INCOME (3) INCOME (4) GAIN (5) ------------------------------------ ---------- ---------- ---------- ---------- DFA One-Year Fixed Income Portfolio...... -- -- 100% 100% DFA Two-Year Global Fixed Income Portfolio............................... -- -- 100% 100% DFA Selectively Hedged Global Fixed Income Portfolio........................ -- -- 100% 100% DFA Short-Term Government Portfolio...... -- -- 100% 100% DFA Five-Year Global Fixed Income Portfolio............................... -- -- 100% 100% DFA World ex U.S. Government Fixed Income Portfolio........................ -- -- 100% 100% DFA Intermediate Government Fixed Income Portfolio........................ -- -- 100% 100% DFA Short-Term Extended Quality Portfolio............................... -- -- 100% 100% DFA Intermediate-Term Extended Quality Portfolio............................... -- -- 100% 100% DFA Investment Grade Portfolio........... -- -- 100% 100% DFA Inflation-Protected Securities Portfolio............................... -- -- 100% 100% DFA Short-Term Municipal Bond Portfolio............................... -- -- 100% 100% DFA Intermediate-Term Municipal Bond Portfolio............................... -- -- 100% 100% DFA California Short-Term Municipal Bond Portfolio............................... -- -- 100% 100% 136 NET INVESTMENT SHORT-TERM LONG-TERM RETURN U.S. INCOME CAPITAL GAIN CAPITAL GAIN OF TAX-EXEMPT TOTAL GOVERNMENT DFA INVESTMENT DIMENSIONS GROUP INC. DISTRIBUTIONS DISTRIBUTIONS DISTRIBUTIONS CAPITAL INTEREST DISTRIBUTIONS INTEREST (1) ------------------------------------ ------------- ------------- ------------- ------- ---------- ------------- ------------ DFA California Intermediate-Term Municipal Bond Portfolio........... -- -- -- -- 100% 100% -- QUALIFYING SHORT- FOREIGN FOREIGN QUALIFYING TERM TAX SOURCE INTEREST CAPITAL DFA INVESTMENT DIMENSIONS GROUP INC. CREDIT (2) INCOME (3) INCOME (4) GAIN (5) ------------------------------------ ---------- ---------- ---------- ---------- DFA California Intermediate-Term Municipal Bond Portfolio........... -- -- 100% 100% ---------- (1)"U.S. Government Interest" represents the amount of interest that was derived from direct U.S. Government obligations and distributed during the fiscal year. This amount is reflected as a percentage of total ordinary income distributions (the total of short-term capital gain and net investment income distributions). Generally, interest from direct U.S. Government obligations is exempt from state income tax. However, for residents of California, Connecticut and New York, the statutory threshold requirements were satisfied for DFA Short-Term Government Portfolio, DFA Intermediate Government Fixed Income Portfolio, and DFA Inflation-Protected Securities Portfolio to permit exemption of these amounts from state income for these funds. (2)"Foreign Tax Credit" represents dividends which qualify for the foreign tax credit pass through and is reflected as a percentage of investment company taxable income. (3)"Foreign Source Income" represents the portion of dividends derived from foreign sources, and is reflected as a percentage of investment company taxable income. (4)The percentage in this column represents the amount of "Qualifying Interest Income" as created by The American Jobs Creation Act of 2004. The information is reflected as a percentage ordinary income distributions (the total of short-term capital gain and net investment income distributions). (5)The percentage in this column represents the amount of "Qualifying Short-Term Capital Gain" as created by The American Jobs Creation Act of 2004. The information is reflected as a percentage of ordinary income distributions (the total of short-term capital gain and net investment income distributions). 137 [LOGO] DFA103113-024A [LOGO] ANNUAL REPORT year ended: October 31, 2013 DFA Investment Dimensions Group Inc. U.S. Social Core Equity 2 Portfolio U.S. Sustainability Core 1 Portfolio International Sustainability Core 1 Portfolio DFA International Value ex Tobacco Portfolio International Social Core Equity Portfolio Emerging Markets Social Core Equity Portfolio [LOGO] Dimensional Fund Advisors 6300 Bee Cave Road, Building One Austin, TX 78746 November 2013 Dear Fellow Shareholder, Our goal at Dimensional is to deliver an outstanding investment experience to our clients. Our close ties to academia help us identify leading research that can be beneficial to investors, and our team works to interpret, rigorously test, and consider the practical applicability of those ideas in carefully implemented investment strategies. This focus on research and implementation has been central to Dimensional's approach since our founding and will continue to be a key part of our offer to investors. Sincerely, /s/ David G. Booth CHAIRMAN AND CO-CHIEF EXECUTIVE OFFICER DFA INVESTMENT DIMENSIONS GROUP INC. ANNUAL REPORT TABLE OF CONTENTS PAGE ---- LETTER TO SHAREHOLDERS DEFINITIONS OF ABBREVIATIONS AND FOOTNOTES.............. 1 PERFORMANCE CHARTS...................................... 2 MANAGEMENT'S DISCUSSION AND ANALYSIS.................... 5 DISCLOSURE OF FUND EXPENSES............................. 9 DISCLOSURE OF PORTFOLIO HOLDINGS........................ 11 SUMMARY SCHEDULES OF PORTFOLIO HOLDINGS................. U.S. Social Core Equity 2 Portfolio.................. 13 U.S. Sustainability Core 1 Portfolio................. 16 International Sustainability Core 1 Portfolio........ 19 DFA International Value ex Tobacco Portfolio......... 23 International Social Core Equity Portfolio........... 27 Emerging Markets Social Core Equity Portfolio........ 31 STATEMENTS OF ASSETS AND LIABILITIES.................... 35 STATEMENTS OF OPERATIONS................................ 37 STATEMENTS OF CHANGES IN NET ASSETS..................... 39 FINANCIAL HIGHLIGHTS.................................... 41 NOTES TO FINANCIAL STATEMENTS........................... 44 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM. 55 FUND MANAGEMENT......................................... 56 VOTING PROXIES ON FUND PORTFOLIO SECURITIES............. 65 NOTICE TO SHAREHOLDERS.................................. 66 This report is submitted for the information of the Fund's shareholders. It is not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus. i DFA INVESTMENT DIMENSIONS GROUP INC. DEFINITIONS OF ABBREVIATIONS AND FOOTNOTES SUMMARY SCHEDULES OF PORTFOLIO HOLDINGS --------------------------------------- Investment Abbreviations ADR American Depositary Receipt FNMA Federal National Mortgage Association GDR Global Depositary Receipt P.L.C. Public Limited Company Investment Footnotes + See Note B to Financial Statements. ++ Securities have generally been fair valued. See Note B to Financial Statements. ** Calculated as a percentage of total net assets. Percentages shown parenthetically next to the category headings have been calculated as a percentage of total investments. "Other Securities" are those securities that are not among the top 50 holdings of the Fund or do not represent more than 1.0% of the net assets of the Fund. Some of the individual securities within this category may include Total or Partial Securities on Loan and/or Non-Income Producing Securities. * Non-Income Producing Securities. # Total or Partial Securities on Loan. @ Security purchased with cash proceeds from Securities on Loan. (S) Affiliated Fund. FINANCIAL HIGHLIGHTS -------------------- (A) Computed using average shares outstanding. (B) Because of commencement of operations and related preliminary transaction costs, these ratios are not necessarily indicative of future ratios. (C) Non-Annualized (D) Annualized ALL STATEMENTS, SCHEDULES AND NOTES TO FINANCIAL STATEMENTS ----------------------------------------------------------- -- Amounts designated as -- are either zero or rounded to zero. REIT Real Estate Investment Trust SEC Securities and Exchange Commission (a) Commencement of Operations. 1 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- U.S. SOCIAL CORE EQUITY 2 PORTFOLIO VS. RUSSELL 3000(R) INDEX OCTOBER 1, 2007-OCTOBER 31, 2013 [CHART] U.S. Social Core Equity 2 Portfolio Russell 3000/R/ Index ----------------------- ------------------- 10/01/2007 $10,000 $10,000 10/31/2007 9,930 10,042 11/30/2007 9,330 9,590 12/31/2007 9,238 9,532 1/31/2008 8,777 8,954 2/29/2008 8,516 8,676 3/31/2008 8,498 8,625 4/30/2008 8,951 9,056 5/31/2008 9,202 9,242 6/30/2008 8,366 8,479 7/31/2008 8,315 8,411 8/31/2008 8,497 8,542 9/30/2008 7,718 7,739 10/31/2008 6,207 6,366 11/30/2008 5,578 5,864 12/31/2008 5,714 5,976 1/31/2009 5,099 5,474 2/28/2009 4,505 4,901 3/31/2009 4,976 5,330 4/30/2009 5,706 5,891 5/31/2009 5,963 6,205 6/30/2009 5,932 6,226 7/31/2009 6,479 6,711 8/31/2009 6,737 6,951 9/30/2009 7,085 7,242 10/31/2009 6,796 7,056 11/30/2009 7,075 7,457 12/31/2009 7,409 7,669 1/31/2010 7,118 7,393 2/28/2010 7,451 7,643 3/31/2010 8,003 8,125 4/30/2010 8,336 8,301 5/31/2010 7,659 7,645 6/30/2010 7,099 7,205 7/31/2010 7,631 7,706 8/31/2010 7,141 7,343 9/30/2010 7,913 8,036 10/31/2010 8,206 8,350 11/30/2010 8,384 8,398 12/31/2010 9,075 8,968 1/31/2011 9,254 9,164 2/28/2011 9,706 9,497 3/31/2011 9,830 9,540 4/30/2011 10,030 9,824 5/31/2011 9,840 9,712 6/30/2011 9,655 9,537 7/31/2011 9,337 9,319 8/31/2011 8,597 8,760 9/30/2011 7,735 8,080 10/31/2011 8,827 9,010 11/30/2011 8,796 8,986 12/31/2011 8,835 9,060 1/31/2012 9,326 9,517 2/29/2012 9,742 9,919 3/31/2012 9,972 10,225 4/30/2012 9,865 10,158 5/31/2012 9,149 9,530 6/30/2012 9,470 9,904 7/31/2012 9,513 10,002 8/31/2012 9,824 10,251 9/30/2012 10,106 10,521 10/31/2012 10,031 10,339 11/30/2012 10,117 10,419 12/31/2012 10,381 10,547 1/31/2013 11,050 11,126 2/28/2013 11,182 11,273 3/31/2013 11,644 11,715 4/30/2013 11,688 11,907 5/31/2013 12,150 12,187 6/30/2013 12,028 12,029 7/31/2013 12,734 12,689 Past performance is not predictive of 8/31/2013 12,337 12,334 future performance. 9/30/2013 12,857 12,793 10/31/2013 13,389 13,336 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. AVERAGE ANNUAL ONE FIVE FROM TOTAL RETURN YEAR YEARS 10/01/2007 Russell data copyright (C) Russell ----------------------------------------------------- Investment Group 1995-2013, all rights 33.47% 16.62% 4.91% reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- U.S. SUSTAINABILITY CORE 1 PORTFOLIO VS. RUSSELL 3000(R) INDEX MARCH 12, 2008-OCTOBER 31, 2013 [CHART] U.S. Sustainability Core 1 Portfolio Russell 3000/R/ Index ------------------------ --------------------- 3/12/2008 $10,000 $10,000 3/31/2008 10,190 10,127 4/30/2008 10,650 10,633 5/31/2008 10,910 10,851 6/30/2008 10,056 9,955 7/31/2008 10,006 9,876 8/31/2008 10,217 10,029 9/30/2008 9,270 9,086 10/31/2008 7,438 7,475 11/30/2008 6,794 6,885 12/31/2008 6,955 7,016 1/31/2009 6,315 6,427 2/28/2009 5,615 5,754 3/31/2009 6,162 6,258 4/30/2009 6,948 6,917 5/31/2009 7,305 7,286 6/30/2009 7,326 7,311 7/31/2009 7,951 7,880 8/31/2009 8,259 8,161 9/30/2009 8,680 8,503 10/31/2009 8,382 8,284 11/30/2009 8,783 8,755 12/31/2009 9,136 9,005 1/31/2010 8,836 8,680 2/28/2010 9,177 8,974 3/31/2010 9,785 9,540 4/30/2010 10,106 9,746 5/31/2010 9,288 8,976 6/30/2010 8,694 8,460 7/31/2010 9,286 9,047 8/31/2010 8,756 8,621 9/30/2010 9,632 9,435 10/31/2010 9,987 9,804 11/30/2010 10,112 9,861 12/31/2010 10,843 10,529 1/31/2011 11,063 10,759 2/28/2011 11,503 11,151 3/31/2011 11,620 11,201 4/30/2011 11,914 11,534 5/31/2011 11,746 11,403 6/30/2011 11,543 11,198 7/31/2011 11,237 10,942 8/31/2011 10,457 10,285 9/30/2011 9,522 9,487 10/31/2011 10,717 10,579 11/30/2011 10,707 10,550 12/31/2011 10,771 10,637 1/31/2012 11,356 11,174 2/29/2012 11,867 11,647 3/31/2012 12,167 12,006 4/30/2012 12,050 11,927 5/31/2012 11,239 11,190 6/30/2012 11,649 11,628 7/31/2012 11,734 11,743 8/31/2012 12,098 12,036 9/30/2012 12,444 12,352 10/31/2012 12,282 12,139 11/30/2012 12,390 12,233 12/31/2012 12,608 12,383 1/31/2013 13,380 13,063 2/28/2013 13,543 13,236 3/31/2013 14,107 13,755 4/30/2013 14,249 13,980 5/31/2013 14,728 14,309 6/30/2013 14,561 14,124 7/31/2013 15,436 14,898 Past performance is not predictive of 8/31/2013 14,998 14,482 future performance. 9/30/2013 15,614 15,020 10/31/2013 16,262 15,658 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. AVERAGE ANNUAL ONE FIVE FROM TOTAL RETURN YEAR YEARS 03/12/2008 Russell data copyright (C) Russell ------------------------------------------------------ Investment Group 1995-2013, all rights 32.40% 16.94% 9.01% reserved. -------------------------------------------------------------------------------- 2 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO VS. MSCI WORLD EX USA INDEX (NET DIVIDENDS) MARCH 12, 2008-OCTOBER 31, 2013 [CHART] International Sustainability MSCI World ex USA Index Core 1 Portfolio (net dividends) ---------------------------- ----------------------- 3/12/2008 $10,000 $10,000 3/31/2008 10,110 10,013 4/30/2008 10,500 10,570 5/31/2008 10,680 10,730 6/30/2008 9,760 9,896 7/31/2008 9,386 9,544 8/31/2008 9,062 9,175 9/30/2008 7,852 7,850 10/31/2008 6,087 6,217 11/30/2008 5,752 5,880 12/31/2008 6,182 6,190 1/31/2009 5,477 5,612 2/28/2009 4,915 5,044 3/31/2009 5,314 5,377 4/30/2009 6,052 6,070 5/31/2009 6,912 6,838 6/30/2009 6,840 6,767 7/31/2009 7,482 7,402 8/31/2009 7,887 7,757 9/30/2009 8,257 8,077 10/31/2009 8,008 7,947 11/30/2009 8,226 8,144 12/31/2009 8,342 8,274 1/31/2010 7,986 7,886 2/28/2010 7,986 7,878 3/31/2010 8,562 8,385 4/30/2010 8,478 8,260 5/31/2010 7,494 7,349 6/30/2010 7,373 7,242 7/31/2010 8,125 7,912 8/31/2010 7,807 7,675 9/30/2010 8,604 8,411 10/31/2010 8,912 8,711 11/30/2010 8,540 8,342 12/31/2010 9,304 9,014 1/31/2011 9,518 9,208 2/28/2011 9,871 9,550 3/31/2011 9,691 9,358 4/30/2011 10,216 9,868 5/31/2011 9,938 9,575 6/30/2011 9,762 9,439 7/31/2011 9,534 9,283 8/31/2011 8,687 8,498 9/30/2011 7,720 7,645 10/31/2011 8,429 8,389 11/30/2011 8,189 8,001 12/31/2011 7,998 7,914 1/31/2012 8,526 8,341 2/29/2012 8,955 8,799 3/31/2012 8,962 8,734 4/30/2012 8,774 8,586 5/31/2012 7,771 7,607 6/30/2012 8,250 8,106 7/31/2012 8,227 8,207 8/31/2012 8,507 8,441 9/30/2012 8,776 8,697 10/31/2012 8,866 8,758 11/30/2012 9,057 8,942 12/31/2012 9,445 9,212 1/31/2013 9,841 9,665 2/28/2013 9,728 9,569 The implementation and management of 3/31/2013 9,852 9,645 Dimensional's 'Sustainability' Portfolios, 4/30/2013 10,260 10,084 including without limitation, 5/31/2013 10,045 9,858 International Sustainability Core I 6/30/2013 9,766 9,489 Portfolio, are protected by U.S. Patent 7/31/2013 10,317 9,994 Nos. 7,596,525 B1 and 7,599,874 B1. 8/31/2013 10,191 9,865 Past performance is not predictive of 9/30/2013 10,959 10,562 future performance. 10/31/2013 11,294 10,917 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE FROM redemption of fund shares. TOTAL RETURN YEAR YEARS 03/12/2008 ------------------------------------------------------- MSCI data copyright MSCI 2013, all 27.38% 13.16% 2.18% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- DFA INTERNATIONAL VALUE EX TOBACCO PORTFOLIO VS. MSCI WORLD EX USA INDEX (NET DIVIDENDS) JUNE 30, 2008-OCTOBER 31, 2013 [CHART] DFA International Value MSCI World ex USA Ex Tobacco Portfolio Index (net dividends) ----------------------- --------------------- 6/30/2008 $10,000 $10,000 7/31/2008 9,840 9,644 8/31/2008 9,530 9,271 9/30/2008 8,400 7,933 10/31/2008 6,353 6,282 11/30/2008 6,021 5,942 12/31/2008 6,471 6,255 1/31/2009 5,553 5,671 2/28/2009 4,856 5,097 3/31/2009 5,342 5,433 4/30/2009 6,313 6,134 5/31/2009 7,204 6,909 6/30/2009 7,153 6,838 7/31/2009 7,975 7,480 8/31/2009 8,417 7,838 9/30/2009 8,858 8,162 10/31/2009 8,496 8,031 11/30/2009 8,713 8,230 12/31/2009 8,810 8,361 1/31/2010 8,343 7,969 2/28/2010 8,384 7,961 3/31/2010 9,050 8,473 4/30/2010 8,925 8,347 5/31/2010 7,865 7,426 6/30/2010 7,723 7,318 7/31/2010 8,651 7,995 8/31/2010 8,218 7,756 9/30/2010 9,081 8,500 10/31/2010 9,388 8,803 11/30/2010 8,922 8,430 12/31/2010 9,758 9,109 1/31/2011 10,184 9,305 2/28/2011 10,503 9,650 3/31/2011 10,198 9,457 4/30/2011 10,710 9,972 5/31/2011 10,294 9,676 6/30/2011 10,132 9,538 7/31/2011 9,817 9,381 8/31/2011 8,766 8,588 9/30/2011 7,871 7,725 10/31/2011 8,602 8,477 11/30/2011 8,351 8,085 12/31/2011 8,125 7,997 1/31/2012 8,664 8,429 2/29/2012 9,137 8,892 3/31/2012 9,055 8,826 4/30/2012 8,702 8,676 5/31/2012 7,610 7,687 6/30/2012 8,159 8,191 7/31/2012 8,114 8,293 8/31/2012 8,429 8,529 9/30/2012 8,724 8,788 10/31/2012 8,826 8,850 11/30/2012 8,950 9,036 12/31/2012 9,418 9,309 1/31/2013 9,861 9,767 2/28/2013 9,565 9,670 3/31/2013 9,605 9,746 4/30/2013 10,072 10,190 5/31/2013 9,913 9,962 6/30/2013 9,564 9,589 7/31/2013 10,201 10,099 8/31/2013 10,143 9,969 Past performance is not predictive of 9/30/2013 10,904 10,673 future performance. 10/31/2013 11,277 11,032 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE FROM redemption of fund shares. TOTAL RETURN YEAR YEARS 06/30/2008 --------------------------------------------------------- MSCI data copyright MSCI 2013, all 27.77% 12.16% 2.28% rights reserved. -------------------------------------------------------------------------------- 3 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (UNAUDITED) -------------------------------------------------------------------------------- INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO VS. MSCI WORLD EX USA INDEX (NET DIVIDENDS) NOVEMBER 1, 2012-OCTOBER 31, 2013 [CHART] International Social Core MSCI World ex USA Equity Portfolio Index (net dividends) ----------------- --------------------- 11/01/2012 $10,000 $10,000 11/30/2012 10,070 10,146 12/31/2012 10,534 10,452 01/31/2013 10,969 10,966 02/28/2013 10,828 10,857 03/31/2013 10,939 10,943 04/30/2013 11,394 11,442 05/31/2013 11,091 11,185 06/30/2013 10,755 10,766 07/31/2013 11,408 11,339 08/31/2013 11,316 11,193 09/30/2013 12,152 11,984 Past performance is not predictive of 10/31/2013 12,581 12,386 future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL FROM redemption of fund shares. TOTAL RETURN 11/01/2012 --------------------------------------- MSCI data copyright MSCI 2013, all 25.81% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO VS. MSCI EMERGING MARKETS INDEX (NET DIVIDENDS) AUGUST 31, 2006-OCTOBER 31, 2013 [CHART] Emerging Markets Social MSCI Emerging Markets Core Equity Portfolio Index (net dividends) ----------------------- --------------------- 8/31/2006 $10,000 $10,000 9/30/2006 10,020 10,083 10/31/2006 10,690 10,562 11/30/2006 11,460 11,347 12/31/2006 11,920 11,858 1/31/2007 12,110 11,730 2/28/2007 12,010 11,661 3/31/2007 12,552 12,125 4/30/2007 13,394 12,686 5/31/2007 14,406 13,315 6/30/2007 14,722 13,939 7/31/2007 15,247 14,674 8/31/2007 14,833 14,363 9/30/2007 16,140 15,949 10/31/2007 17,825 17,727 11/30/2007 16,516 16,471 12/31/2007 16,464 16,528 1/31/2008 14,854 14,466 2/29/2008 15,391 15,534 3/31/2008 14,872 14,712 4/30/2008 15,837 15,905 5/31/2008 15,958 16,201 6/30/2008 14,185 14,585 7/31/2008 13,942 14,035 8/31/2008 12,991 12,914 9/30/2008 10,870 10,654 10/31/2008 7,734 7,738 11/30/2008 7,176 7,155 12/31/2008 7,903 7,714 1/31/2009 7,206 7,215 2/28/2009 6,678 6,808 3/31/2009 7,716 7,787 4/30/2009 9,147 9,083 5/31/2009 10,949 10,635 6/30/2009 10,849 10,491 7/31/2009 12,177 11,671 8/31/2009 12,279 11,629 9/30/2009 13,355 12,685 10/31/2009 13,116 12,701 11/30/2009 13,937 13,246 12/31/2009 14,530 13,769 1/31/2010 13,729 13,001 2/28/2010 13,866 13,047 3/31/2010 15,119 14,100 4/30/2010 15,268 14,271 5/31/2010 13,734 13,016 6/30/2010 13,820 12,920 7/31/2010 15,099 13,996 8/31/2010 14,880 13,724 9/30/2010 16,648 15,250 10/31/2010 17,134 15,692 11/30/2010 16,694 15,278 12/31/2010 17,932 16,368 1/31/2011 17,397 15,924 2/28/2011 17,118 15,776 3/31/2011 18,078 16,703 4/30/2011 18,746 17,221 5/31/2011 18,199 16,770 6/30/2011 17,928 16,512 7/31/2011 17,867 16,438 8/31/2011 16,271 14,969 9/30/2011 13,485 12,787 10/31/2011 15,199 14,481 11/30/2011 14,545 13,516 12/31/2011 14,118 13,353 1/31/2012 15,768 14,867 2/29/2012 16,823 15,758 3/31/2012 16,289 15,232 4/30/2012 15,880 15,050 5/31/2012 14,205 13,362 6/30/2012 14,847 13,878 7/31/2012 14,834 14,148 8/31/2012 14,971 14,101 9/30/2012 15,842 14,952 10/31/2012 15,717 14,861 11/30/2012 15,942 15,050 12/31/2012 16,993 15,786 1/31/2013 17,135 16,004 2/28/2013 17,018 15,803 3/31/2013 16,806 15,530 4/30/2013 16,961 15,647 5/31/2013 16,470 15,246 6/30/2013 15,244 14,275 7/31/2013 15,466 14,425 8/31/2013 15,101 14,177 9/30/2013 16,199 15,099 10/31/2013 16,933 15,832 Past performance is not predictive of future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the AVERAGE ANNUAL ONE FIVE FROM redemption of fund shares. TOTAL RETURN YEAR YEARS 08/31/2006 -------------------------------------------------------- MSCI data copyright MSCI 2013, all 7.74% 16.97% 7.63% rights reserved. -------------------------------------------------------------------------------- 4 DFA INVESTMENT DIMENSIONS GROUP INC. MANAGEMENT'S DISCUSSION AND ANALYSIS U.S. EQUITY MARKET REVIEW 12 MONTHS ENDED OCTOBER 31, 2013 The one-year period ended October 31, 2013, was characterized by strong gains in U.S. equities. The broad U.S. equity market, as measured by the Russell 3000(R) Index, had positive returns in 10 of the 12 months. The size premium was positive during the period with small cap stocks outperforming large cap stocks as measured by the Russell indices. Micro cap stocks were the strongest performers. TOTAL RETURN FOR 12 MONTHS ENDED OCTOBER 31, 2013 ------------------------------------------------- Russell 3000(R) Index........................ 28.99% Russell Microcap(R) Index (micro cap stocks). 38.72% Russell 2000(R) Index (small cap stocks)..... 36.28% Russell 1000(R) Index (large cap stocks)..... 28.40% Dow Jones U.S. Select REIT Index/SM/......... 9.96% The value premium was negative in small cap stocks while the performance of large cap value and large cap growth was almost identical as measured by the Russell indices. TOTAL RETURN FOR 12 MONTHS ENDED OCTOBER 31, 2013 ------------------------------------------------- Russell 2000(R) Value Index (small cap value stocks)... 32.83% Russell 2000(R) Growth Index (small cap growth stocks). 39.84% Russell 1000(R) Value Index (large cap value stocks)... 28.29% Russell 1000(R) Growth Index (large cap growth stocks). 28.30% ---------- Source: Russell data copyright (C) Russell Investment Group 1995-2013, all rights reserved. Dimensional Fund Advisors LP ("Dimensional" or the "Advisor") believes that among the most important factors explaining differences in the behavior of diversified equity portfolios are the market capitalization and value/ growth characteristics of the portfolios' holdings. Value characteristics are a function of stock price relative to one or more fundamental characteristics such as book value, earnings, or dividends. For many Dimensional U.S. equity portfolios, differences in returns over the 12 months ended October 31, 2013, were primarily attributable to differences in value/growth and size characteristics as well as the exclusion of REIT securities from most Dimensional portfolios and the exclusion of securities of highly regulated utilities from most value strategies. For many portfolios, the construction approach used by Dimensional generally resulted in portfolios with greater weight in value, small cap and/or micro cap companies relative to widely used benchmarks. DOMESTIC EQUITY PORTFOLIOS' PERFORMANCE OVERVIEW U.S. SOCIAL CORE EQUITY 2 PORTFOLIO The U.S. Social Core Equity 2 Portfolio seeks to capture the returns of the total U.S. market universe with increased exposure to smaller company stocks and value stocks relative to the market. The Portfolio excludes from purchase companies and industries that do not pass the social issue screens performed by a third-party provider. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 2,300 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 33.47% for the Portfolio and 28.99% for the Russell 3000(R) Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the U.S. equity market, rather than the behavior of a limited number of stocks. The Portfolio had greater exposure than the Index to small cap stocks and less exposure to large cap stocks, both of which contributed to the Portfolio's outperformance relative to the Index as small cap stocks generally outperformed 5 large cap stocks during the period. The Portfolio's exclusion of real estate investment trusts ("REITs") also contributed to the Portfolio's outperformance relative to the Index as REITs underperformed during the period. U.S. SUSTAINABILITY CORE 1 PORTFOLIO The U.S. Sustainability Core Equity 1 Portfolio seeks to capture the returns of the total U.S. market universe, with increased exposure to smaller company stocks and value stocks relative to the market. The Portfolio further adjusts the weights of all eligible companies based on environmental sustainability ratings calculated by a third-party provider. Accordingly, the Portfolio seeks to exclude or decrease the weights of securities of companies that have a relative negative impact on the environment and to increase the weights of securities of companies that have a relative positive impact on the environment. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 2,300 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 32.40% for the Portfolio and 28.99% for the Russell 3000(R) Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the U.S. equity market, rather than the behavior of a limited number of stocks. The Portfolio had greater exposure than the Index to small cap stocks and less exposure to large cap stocks, both of which contributed to the Portfolio's outperformance relative to the Index as small cap stocks generally outperformed large cap stocks during the period. The Portfolio's exclusion of real estate investment trusts ("REITs") also contributed to the Portfolio's outperformance relative to the Index as REITs underperformed during the period. INTERNATIONAL EQUITY MARKET REVIEW 12 MONTHS ENDED OCTOBER 31, 2013 The one-year period ended October 31, 2013, was characterized by generally positive monthly returns in the international equity markets with the exception of a sharp decline from May to June and a smaller decline in August. As measured by the MSCI indices below for developed markets outside the U.S., small cap stocks generally outperformed large cap stocks while value stocks outperformed growth stocks. 12 MONTHS ENDED OCTOBER 31, 2013 -------------------------------- U.S. DOLLAR RETURN ------------------ MSCI World ex USA Index........... 24.65% MSCI World ex USA Small Cap Index. 27.81% MSCI World ex USA Value Index..... 26.12% MSCI World ex USA Growth Index.... 23.17% During the period, the U.S. dollar (USD) was mixed against developed markets currencies. While the U.S. dollar depreciated against the euro, Swiss franc, and several other European-based developed markets currencies, it appreciated against the sterling, Canadian dollar, Australian dollar and Japanese yen. 12 MONTHS ENDED OCTOBER 31, 2013 -------------------------------- TEN LARGEST FOREIGN DEVELOPED MARKETS BY MARKET CAP LOCAL CURRENCY RETURN U.S. DOLLAR RETURN --------------------------------------------------- --------------------- ------------------ United Kingdom.................... 20.70% 20.37% Japan............................. 64.48% 34.00% Canada............................ 10.59% 5.99% France............................ 27.55% 33.82% Australia......................... 26.44% 15.47% Switzerland....................... 27.49% 31.10% Germany........................... 24.72% 30.85% Spain............................. 30.69% 37.11% Sweden............................ 24.39% 27.55% Hong Kong......................... 14.30% 14.25% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2013, all rights reserved. 6 Gains in emerging markets were lower on average than in developed markets although results varied widely among the individual emerging markets countries. For the one-year period ended October 31, 2013, returns in U.S. dollars were 6.53% for the MSCI Emerging Markets Index (net dividends) versus 24.65% for the MSCI World ex USA Index (net dividends). As measured by the MSCI emerging markets indices, small cap stocks outperformed large caps while growth stocks outperformed value stocks. 12 MONTHS ENDED OCTOBER 31, 2013 -------------------------------- U.S. DOLLAR RETURN ------------------ MSCI Emerging Markets Index........... 6.53% MSCI Emerging Markets Small Cap Index. 10.29% MSCI Emerging Markets Value Index..... 3.88% MSCI Emerging Markets Growth Index.... 9.06% During the period, the U.S. dollar (USD) generally appreciated against most emerging markets currencies, except those in eastern Europe, decreasing USD denominated returns in emerging markets. 12 MONTHS ENDED OCTOBER 31, 2013 -------------------------------- TEN LARGEST EMERGING MARKETS BY MARKET CAP ------------------------------------------ LOCAL CURRENCY RETURN U.S. DOLLAR RETURN --------------------- ------------------ China........ 9.32% 9.28% South Korea.. 9.57% 12.65% Brazil....... 7.85% -1.52% Taiwan....... 18.76% 18.08% South Africa. 20.85% 5.07% India........ 14.98% 0.65% Russia....... 12.94% 10.89% Mexico....... 1.41% 2.11% Malaysia..... 13.25% 9.32% Indonesia.... 1.33% -13.66% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2013, all rights reserved. INTERNATIONAL EQUITY PORTFOLIOS' PERFORMANCE OVERVIEW INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO The International Sustainability Core 1 Portfolio seeks to capture the returns of the broad universe of international stocks, with increased exposure to smaller company stocks and stocks with value characteristics. The Portfolio further adjusts the weights of companies based on environmental sustainability ratings calculated by a third-party provider. Accordingly, the Portfolio seeks to exclude or decrease the weights of securities of companies that are believed to have a relative negative impact on the environment and to increase the weights of securities of companies that are believed to have a relative positive impact on the environment. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 2,400 securities in 22 eligible developed markets. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 27.38% for the Portfolio and 24.65% for the MSCI World ex USA Index (net dividends). As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the international equity markets rather than by the behavior of a limited number of stocks. The Portfolio invests in stocks across all size categories while the Index primarily holds large cap and mid-cap stocks. International small cap stocks generally outperformed international large and mid cap stocks during the period, and the Portfolio's greater exposure to small cap stocks benefited relative performance. The Portfolio's greater exposure to value stocks, as measured by book-to-market, was also beneficial as these stocks generally outperformed the Index. The Portfolio's exclusion of real estate investment trusts ("REITs") also contributed to the Portfolio's outperformance relative to the Index as REITs underperformed during the period. 7 DFA INTERNATIONAL VALUE EX TOBACCO PORTFOLIO The International Value ex Tobacco Portfolio seeks to capture the returns of international large company value stocks while excluding tobacco companies. Value is measured primarily by book-to-market ratio. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 400 securities in 22 eligible developed countries. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 27.77% for the Portfolio and 24.65% for the MSCI World ex USA Index (net dividends). The Portfolio focuses on value stocks, as measured by book-to-market, while the Index is neutral with regard to value or growth. As large cap value stocks generally outperformed large cap growth stocks during the period, the Portfolio's significantly greater exposure than the Index to these securities contributed to the Portfolio's outperformance relative to the Index. In particular, the Portfolio's greater exposure to value stocks in the financial sector was beneficial as these names generally outperformed the Index. The Portfolio's exclusion of real estate investment trusts ("REITs") also benefited the Portfolio's relative performance as REITs underperformed during the period. Differences in the valuation timing and methodology between the Portfolio and the Index generally detracted from the Portfolio's relative performance. The Portfolio prices foreign exchange rates at the closing of the U.S. markets while the Index uses rates at 4 pm London time. The Portfolio also may use fair value pricing to price certain portfolio securities at the closing of the U.S. markets while the Index uses local market closing prices. INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO The International Social Core Equity Portfolio seeks to capture the returns of a broadly diversified basket of international stocks, with increased exposure to smaller company stocks and those with value characteristics. The Portfolio excludes from purchase companies and industries that do not pass the social issue screens performed by a third-party provider. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 2,700 securities in 22 eligible developed markets. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. From the Portfolio's inception on November 1, 2012, through October 31, 2013, total returns were 25.81% for the Portfolio and 23.86% for the MSCI World ex USA Index (net dividends). As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the international equity markets rather than by the behavior of a limited number of stocks. The Portfolio invests in stocks across all size categories while the Index primarily holds large cap and mid-cap stocks. International small cap stocks generally outperformed international large and mid-cap stocks during the period, and the Portfolio's greater exposure to small cap stocks benefited the Portfolio's relative performance. The Portfolio's greater exposure to value stocks, as measured by book-to-market, was also beneficial as these stocks generally outperformed the Index. The Portfolio's exclusion of real estate investment trusts ("REITs") also contributed to the Portfolio's outperformance relative to the Index as REITs underperformed during the period. EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO The Emerging Markets Social Core Equity Portfolio seeks to capture the returns of a broad universe of stocks in selected emerging markets with increased exposure to smaller company stocks and those stocks with value characteristics, as measured by book-to-market. The Portfolio excludes from purchase companies that do not pass the social screens performed by a third-party provider. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 3,000 securities across 21 eligible emerging markets. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 7.74% for the Portfolio and 6.53% for the MSCI Emerging Markets Index (net dividends). As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in emerging markets rather than the behavior of a limited number of stocks. The Portfolio invests in stocks across all size categories while the Index primarily holds large cap and mid-cap stocks. Emerging markets small cap stocks generally outperformed large cap stocks during the period. The Portfolio's greater exposure to small cap stocks was primarily responsible for the Portfolio's outperformance relative to the Index. The Portfolio's greater exposure to value stocks, as measured by book-to-market, also contributed to the Portfolio's relative performance as these stocks generally outperformed the Index. 8 DFA INVESTMENT DIMENSIONS GROUP INC. DISCLOSURE OF FUND EXPENSES (UNAUDITED) The following Expense Tables are shown so that you can understand the impact of fees on your investment. All mutual funds have operating expenses. As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports, among others. Operating expenses, legal and audit services, which are deducted from a fund's gross income, directly reduce the investment return of the fund. A fund's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs, in dollars, of investing in the fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period. The Expense Tables below illustrate your fund's costs in two ways. ACTUAL FUND RETURN This section helps you to estimate the actual expenses after fee waivers that you paid over the period. The "Ending Account Value" shown is derived from the fund's actual return and "Expenses Paid During Period" reflect the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. To do so, simply divide your account value by $1,000 (for example, a $7,500 account value divided by $1,000 = 7.5), then multiply the result by the number given for your fund under the heading "Expenses Paid During Period." HYPOTHETICAL EXAMPLE FOR COMPARISON PURPOSES This section is intended to help you compare your fund's costs with those of other mutual funds. The hypothetical "Ending Account Value" and "Expenses Paid During Period" are derived from the fund's actual expense ratio and an assumed 5% annual return before expenses. In this case, because the return used is not the fund's actual return, the results do not apply to your investment. The example is useful in making comparisons because the SEC requires all mutual funds to calculate expenses based on a 5% annual return. You can assess your fund's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. Please note that the expenses shown in the tables are meant to highlight and help you compare ongoing costs only and do not reflect any transactional costs, if applicable. The "Annualized Expense Ratio" represents the actual expenses for the six-month period indicated. SIX MONTHS ENDED OCTOBER 31, 2013 EXPENSE TABLES BEGINNING ENDING EXPENSES ACCOUNT ACCOUNT ANNUALIZED PAID VALUE VALUE EXPENSE DURING 05/01/13 10/31/13 RATIO* PERIOD* --------- --------- ---------- -------- U.S. SOCIAL CORE EQUITY 2 PORTFOLIO ----------------------------------- Actual Fund Return................... $1,000.00 $1,145.50 0.31% $1.68 Hypothetical 5% Annual Return........ $1,000.00 $1,023.64 0.31% $1.58 U.S. SUSTAINABILITY CORE 1 PORTFOLIO ------------------------------------ Actual Fund Return................... $1,000.00 $1,141.30 0.33% $1.78 Hypothetical 5% Annual Return........ $1,000.00 $1,023.54 0.33% $1.68 9 DISCLOSURE OF FUND EXPENSES CONTINUED BEGINNING ENDING EXPENSES ACCOUNT ACCOUNT ANNUALIZED PAID VALUE VALUE EXPENSE DURING 05/01/13 10/31/13 RATIO* PERIOD* --------- --------- ---------- -------- INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO --------------------------------------------- Actual Fund Return............................ $1,000.00 $1,100.70 0.53% $2.81 Hypothetical 5% Annual Return................. $1,000.00 $1,022.53 0.53% $2.70 DFA INTERNATIONAL VALUE EX TOBACCO PORTFOLIO -------------------------------------------- Actual Fund Return............................ $1,000.00 $1,119.60 0.60% $3.21 Hypothetical 5% Annual Return................. $1,000.00 $1,022.18 0.60% $3.06 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO ------------------------------------------ Actual Fund Return............................ $1,000.00 $1,104.20 0.59% $3.13 Hypothetical 5% Annual Return................. $1,000.00 $1,022.23 0.59% $3.01 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO --------------------------------------------- Actual Fund Return............................ $1,000.00 $ 998.30 0.63% $3.17 Hypothetical 5% Annual Return................. $1,000.00 $1,022.03 0.63% $3.21 ---------- * Expenses are equal to the fund's annualized expense ratio for the six-month period, multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period (184), then divided by the number of days in the year (365) to reflect the six-month period. 10 DFA INVESTMENT DIMENSIONS GROUP INC. DISCLOSURE OF PORTFOLIO HOLDINGS (UNAUDITED) The SEC requires that all funds file a complete Schedule of Investments with the SEC for their first and third fiscal quarters on Form N-Q. For DFA Investment Dimensions Group Inc., this would be for the fiscal quarters ending January 31 and July 31. The Form N-Q filing must be made within 60 days of the end of the quarter. DFA Investment Dimensions Group Inc. filed its most recent Form N-Q with the SEC on September 27, 2013. It is available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room). SEC regulations permit a fund to include in its reports to shareholders a "Summary Schedule of Portfolio Holdings" in lieu of a full Schedule of Investments. The Summary Schedule of Portfolio Holdings reports the fund's 50 largest holdings in unaffiliated issuers and any investments that exceed one percent of the fund's net assets at the end of the reporting period. The amendments also require that the Summary Schedule of Portfolio Holdings identify each category of investments that is held. A fund is required to file a complete Schedule of Investments with the SEC on Form N-CSR within ten days after mailing the annual and semi-annual reports to shareholders. It will be available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room). PORTFOLIO HOLDINGS The SEC requires that all funds present their categories of portfolio holdings in a table, chart or graph format in their annual and semi-annual shareholder reports, whether or not a Schedule of Investments is utilized. The following table, which presents portfolio holdings as a percent of total investments before short-term investments and collateral for loaned securities, is provided in compliance with such requirement. The categories shown below represent broad industry sectors. Each industry sector consists of one or more specific industry classifications. DOMESTIC AND INTERNATIONAL EQUITY PORTFOLIOS U.S. SOCIAL CORE EQUITY 2 PORTFOLIO Consumer Discretionary....................... 14.1% Consumer Staples............................. 5.3% Energy....................................... 13.5% Financials................................... 23.8% Health Care.................................. 3.0% Industrials.................................. 13.1% Information Technology....................... 17.2% Materials.................................... 5.2% Other........................................ -- Telecommunication Services................... 2.5% Utilities.................................... 2.3% ----- 100.0% U.S. SUSTAINABILITY CORE 1 PORTFOLIO Consumer Discretionary....................... 14.8% Consumer Staples............................. 7.4% Energy....................................... 10.7% Financials................................... 16.3% Health Care.................................. 11.7% Industrials.................................. 12.6% Information Technology....................... 16.7% Materials.................................... 4.5% Other........................................ -- Telecommunication Services................... 2.3% Utilities.................................... 3.0% ----- 100.0% INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO Consumer Discretionary....................... 13.8% Consumer Staples............................. 8.1% Energy....................................... 8.4% Financials................................... 23.6% Health Care.................................. 7.0% Industrials.................................. 16.0% Information Technology....................... 5.2% Materials.................................... 10.6% Other........................................ -- Telecommunication Services................... 4.1% Utilities.................................... 3.2% ----- 100.0% 11 DISCLOSURE OF PORTFOLIO HOLDINGS CONTINUED DFA INTERNATIONAL VALUE EX TOBACCO PORTFOLIO Consumer Discretionary....................... 9.2% Consumer Staples............................. 4.7% Energy....................................... 13.5% Financials................................... 37.0% Health Care.................................. 1.1% Industrials.................................. 9.3% Information Technology....................... 3.4% Materials.................................... 10.9% Other........................................ -- Telecommunication Services................... 7.5% Utilities.................................... 3.4% ----- 100.0% INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO Consumer Discretionary....................... 11.8% Consumer Staples............................. 5.2% Energy....................................... 9.2% Financials................................... 30.3% Health Care.................................. 2.8% Industrials.................................. 16.8% Information Technology....................... 5.3% Materials.................................... 11.1% Other........................................ -- Telecommunication Services................... 3.9% Utilities.................................... 3.6% ----- 100.0% EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO Consumer Discretionary....................... 9.9% Consumer Staples............................. 7.0% Energy....................................... 9.5% Financials................................... 27.3% Health Care.................................. 0.3% Industrials.................................. 10.4% Information Technology....................... 14.6% Materials.................................... 12.9% Other........................................ -- Real Estate Investment Trusts................ -- Telecommunication Services................... 4.2% Utilities.................................... 3.9% ----- 100.0% 12 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE+ OF NET ASSETS** ------ ------ --------------- COMMON STOCKS -- (92.4%) Consumer Discretionary -- (13.0%) Comcast Corp. Class A.................... 55,612 $ 2,646,019 0.7% Johnson Controls, Inc.................... 21,706 1,001,732 0.3% Time Warner, Inc......................... 24,494 1,683,718 0.4% Walt Disney Co. (The).................... 22,247 1,525,922 0.4% Other Securities......................... 50,846,883 12.2% ----------- ----- Total Consumer Discretionary................. 57,704,274 14.0% ----------- ----- Consumer Staples -- (4.9%) Coca-Cola Co. (The)...................... 30,800 1,218,756 0.3% CVS Caremark Corp........................ 31,331 1,950,668 0.5% Mondelez International, Inc. Class A..... 48,216 1,621,986 0.4% PepsiCo, Inc............................. 12,539 1,054,404 0.3% Procter & Gamble Co. (The)............... 38,323 3,094,582 0.8% Other Securities......................... 12,713,724 3.0% ----------- ----- Total Consumer Staples....................... 21,654,120 5.3% ----------- ----- Energy -- (12.4%) Anadarko Petroleum Corp.................. 14,242 1,357,120 0.3% Apache Corp.............................. 10,290 913,752 0.2% Chesapeake Energy Corp................... 34,993 978,404 0.2% Chevron Corp............................. 49,778 5,971,369 1.5% ConocoPhillips........................... 30,244 2,216,885 0.5% EOG Resources, Inc....................... 6,322 1,127,845 0.3% Exxon Mobil Corp......................... 125,869 11,280,380 2.8% Occidental Petroleum Corp................ 27,014 2,595,505 0.6% Phillips 66.............................. 17,282 1,113,479 0.3% Other Securities......................... 27,457,008 6.7% ----------- ----- Total Energy................................. 55,011,747 13.4% ----------- ----- Financials -- (22.0%) American International Group, Inc........ 45,492 2,349,662 0.6% Bank of America Corp..................... 311,564 4,349,433 1.1% Bank of New York Mellon Corp. (The)...... 38,950 1,238,610 0.3% * Berkshire Hathaway, Inc. Class B......... 16,445 1,892,491 0.5% BlackRock, Inc........................... 3,388 1,019,144 0.3% Capital One Financial Corp............... 19,441 1,335,013 0.3% Citigroup, Inc........................... 96,881 4,725,855 1.2% Goldman Sachs Group, Inc. (The).......... 11,096 1,784,903 0.4% JPMorgan Chase & Co...................... 113,803 5,865,407 1.4% MetLife, Inc............................. 30,070 1,422,612 0.4% Morgan Stanley........................... 37,519 1,077,921 0.3% PNC Financial Services Group, Inc. (The). 15,356 1,129,127 0.3% Prudential Financial, Inc................ 12,120 986,447 0.2% State Street Corp........................ 13,558 950,009 0.2% U.S. Bancorp............................. 52,652 1,967,079 0.5% Wells Fargo & Co......................... 129,181 5,514,737 1.3% Other Securities......................... 59,776,845 14.4% ----------- ----- Total Financials............................. 97,385,295 23.7% ----------- ----- Health Care -- (2.8%) Other Securities......................... 12,285,465 3.0% ----------- ----- 13 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** ------ ------ --------------- Industrials -- (12.1%) Eaton Corp. P.L.C.................................. 15,101 $ 1,065,527 0.3% FedEx Corp......................................... 9,578 1,254,718 0.3% Union Pacific Corp................................. 14,927 2,259,948 0.6% Other Securities................................... 48,859,530 11.8% ------------ ------ Total Industrials........................................ 53,439,723 13.0% ------------ ------ Information Technology -- (15.9%) Apple, Inc......................................... 13,177 6,883,006 1.7% Cisco Systems, Inc................................. 70,487 1,585,957 0.4% EMC Corp........................................... 49,450 1,190,261 0.3% * Google, Inc. Class A............................... 2,713 2,795,964 0.7% Hewlett-Packard Co................................. 49,442 1,204,902 0.3% Intel Corp......................................... 127,592 3,117,073 0.8% International Business Machines Corp............... 5,900 1,057,339 0.3% Microsoft Corp..................................... 62,616 2,213,476 0.6% Oracle Corp........................................ 29,345 983,057 0.3% QUALCOMM, Inc...................................... 20,304 1,410,519 0.4% * Yahoo!, Inc........................................ 31,999 1,053,727 0.3% Other Securities................................... 47,031,839 11.0% ------------ ------ Total Information Technology............................. 70,527,120 17.1% ------------ ------ Materials -- (4.8%) Other Securities................................... 21,279,849 5.2% ------------ ------ Other -- (0.0%) Other Securities................................... -- 0.0% ------------ ------ Telecommunication Services -- (2.3%) AT&T, Inc.......................................... 148,555 5,377,691 1.3% Verizon Communications, Inc........................ 45,675 2,307,044 0.6% Other Securities................................... 2,590,214 0.6% ------------ ------ Total Telecommunication Services......................... 10,274,949 2.5% ------------ ------ Utilities -- (2.2%) Other Securities................................... 9,563,848 2.3% ------------ ------ TOTAL COMMON STOCKS...................................... 409,126,390 99.5% ------------ ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... -- 0.0% ------------ ------ TEMPORARY CASH INVESTMENTS -- (0.4%) State Street Institutional Liquid Reserves, 0.073%. 1,948,291 1,948,291 0.5% ------------ ------ SHARES/ FACE AMOUNT ------- - - (000) SECURITIES LENDING COLLATERAL -- (7.2%) (S)@ DFA Short Term Investment Fund..................... 2,748,699 31,802,446 7.7% ------------ ------ TOTAL INVESTMENTS -- (100.0%) (Cost $328,887,608).................................. $442,877,127 107.7% ============ ====== 14 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) --------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ------------ ----------- ------- ------------ Common Stocks Consumer Discretionary...... $ 57,704,274 -- -- $ 57,704,274 Consumer Staples............ 21,654,120 -- -- 21,654,120 Energy...................... 55,011,747 -- -- 55,011,747 Financials.................. 97,385,295 -- -- 97,385,295 Health Care................. 12,285,465 -- -- 12,285,465 Industrials................. 53,439,723 -- -- 53,439,723 Information Technology...... 70,527,120 -- -- 70,527,120 Materials................... 21,279,849 -- -- 21,279,849 Other....................... -- -- -- -- Telecommunication Services.. 10,274,949 -- -- 10,274,949 Utilities................... 9,563,848 -- -- 9,563,848 Rights/Warrants............... -- -- -- -- Temporary Cash Investments.... 1,948,291 -- -- 1,948,291 Securities Lending Collateral. -- $31,802,446 -- 31,802,446 ------------ ----------- -- ------------ TOTAL......................... $411,074,681 $31,802,446 -- $442,877,127 ============ =========== == ============ See accompanying Notes to Financial Statements. 15 U.S. SUSTAINABILITY CORE 1 PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE+ OF NET ASSETS** ------ ------ --------------- COMMON STOCKS -- (93.1%) Consumer Discretionary -- (13.8%) * Amazon.com, Inc........................ 4,437 $ 1,615,201 0.6% Comcast Corp. Class A.................. 31,728 1,509,618 0.5% NIKE, Inc. Class B..................... 10,988 832,451 0.3% Time Warner, Inc....................... 22,360 1,537,026 0.5% Twenty-First Century Fox, Inc. Class A. 30,924 1,053,890 0.4% Walt Disney Co. (The).................. 23,614 1,619,684 0.6% Other Securities....................... 35,889,416 11.9% ----------- ----- Total Consumer Discretionary............... 44,057,286 14.8% ----------- ----- Consumer Staples -- (6.8%) Coca-Cola Co. (The).................... 30,130 1,192,244 0.4% Costco Wholesale Corp.................. 7,202 849,836 0.3% CVS Caremark Corp...................... 27,329 1,701,504 0.6% Mondelez International, Inc. Class A... 25,986 874,169 0.3% PepsiCo, Inc........................... 16,635 1,398,837 0.5% Philip Morris International, Inc....... 11,407 1,016,592 0.3% Procter & Gamble Co. (The)............. 27,571 2,226,358 0.8% Walgreen Co............................ 14,338 849,383 0.3% Other Securities....................... 11,707,555 3.8% ----------- ----- Total Consumer Staples..................... 21,816,478 7.3% ----------- ----- Energy -- (9.9%) Chevron Corp........................... 19,201 2,303,352 0.8% ConocoPhillips......................... 15,515 1,137,249 0.4% EOG Resources, Inc..................... 4,564 814,218 0.3% Exxon Mobil Corp....................... 37,767 3,384,679 1.1% Occidental Petroleum Corp.............. 10,871 1,044,486 0.4% Schlumberger, Ltd...................... 21,117 1,979,085 0.7% Other Securities....................... 21,090,418 7.0% ----------- ----- Total Energy............................... 31,753,487 10.7% ----------- ----- Financials -- (15.2%) Bank of America Corp................... 200,476 2,798,645 1.0% Citigroup, Inc......................... 69,150 3,373,137 1.1% Goldman Sachs Group, Inc. (The)........ 6,831 1,098,835 0.4% JPMorgan Chase & Co.................... 62,359 3,213,983 1.1% MetLife, Inc........................... 18,692 884,319 0.3% Morgan Stanley......................... 31,284 898,789 0.3% U.S. Bancorp........................... 22,168 828,196 0.3% Wells Fargo & Co....................... 88,485 3,777,425 1.3% Other Securities....................... 31,612,122 10.5% ----------- ----- Total Financials........................... 48,485,451 16.3% ----------- ----- Health Care -- (10.9%) Amgen, Inc............................. 7,174 832,184 0.3% Bristol-Myers Squibb Co................ 17,431 915,476 0.3% * Gilead Sciences, Inc................... 16,228 1,152,026 0.4% Johnson & Johnson...................... 30,243 2,800,804 1.0% Merck & Co., Inc....................... 39,796 1,794,402 0.6% Pfizer, Inc............................ 48,189 1,478,438 0.5% UnitedHealth Group, Inc................ 21,670 1,479,194 0.5% Other Securities....................... 24,336,918 8.1% ----------- ----- Total Health Care.......................... 34,789,442 11.7% ----------- ----- 16 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE+ OF NET ASSETS** ------ ------ --------------- Industrials -- (11.8%) General Electric Co................................ 131,590 $ 3,439,763 1.2% United Technologies Corp........................... 9,486 1,007,887 0.4% Other Securities................................... 33,071,117 11.0% ------------ ------ Total Industrials........................................ 37,518,767 12.6% ------------ ------ Information Technology -- (15.6%) Accenture P.L.C. Class A........................... 11,246 826,581 0.3% Apple, Inc......................................... 9,440 4,930,984 1.7% Cisco Systems, Inc................................. 96,437 2,169,832 0.7% * eBay, Inc.......................................... 15,393 811,365 0.3% * Google, Inc. Class A............................... 2,813 2,899,022 1.0% Hewlett-Packard Co................................. 40,650 990,640 0.3% Intel Corp......................................... 56,044 1,369,155 0.5% International Business Machines Corp............... 5,125 918,451 0.3% Microsoft Corp..................................... 111,224 3,931,768 1.3% Oracle Corp........................................ 43,403 1,454,000 0.5% QUALCOMM, Inc...................................... 19,186 1,332,851 0.5% Other Securities................................... 28,022,940 9.3% ------------ ------ Total Information Technology............................. 49,657,589 16.7% ------------ ------ Materials -- (4.2%) Other Securities................................... 13,281,550 4.5% ------------ ------ Telecommunication Services -- (2.1%) AT&T, Inc.......................................... 82,356 2,981,287 1.0% Verizon Communications, Inc........................ 44,056 2,225,269 0.8% Other Securities................................... 1,448,280 0.4% ------------ ------ Total Telecommunication Services......................... 6,654,836 2.2% ------------ ------ Utilities -- (2.8%) Other Securities................................... 9,010,093 3.0% ------------ ------ TOTAL COMMON STOCKS...................................... 297,024,979 99.8% ------------ ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 151 0.0% ------------ ------ TEMPORARY CASH INVESTMENTS -- (0.2%) State Street Institutional Liquid Reserves, 0.073%. 668,131 668,131 0.2% ------------ ------ SHARES/ FACE AMOUNT ------- - - (000) SECURITIES LENDING COLLATERAL -- (6.7%) (S)@ DFA Short Term Investment Fund..................... 1,847,762 21,378,610 7.2% ------------ ------ TOTAL INVESTMENTS -- (100.0%) (Cost $218,489,150).................................. $319,071,871 107.2% ============ ====== 17 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) --------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ------------ ----------- ------- ------------ Common Stocks Consumer Discretionary...... $ 44,057,286 -- -- $ 44,057,286 Consumer Staples............ 21,816,478 -- -- 21,816,478 Energy...................... 31,753,487 -- -- 31,753,487 Financials.................. 48,485,385 $ 66 -- 48,485,451 Health Care................. 34,789,282 160 -- 34,789,442 Industrials................. 37,518,767 -- -- 37,518,767 Information Technology...... 49,657,589 -- -- 49,657,589 Materials................... 13,281,550 -- -- 13,281,550 Telecommunication Services.. 6,654,836 -- -- 6,654,836 Utilities................... 9,010,093 -- -- 9,010,093 Rights/Warrants............... -- 151 -- 151 Temporary Cash Investments.... 668,131 -- -- 668,131 Securities Lending Collateral. -- 21,378,610 -- 21,378,610 ------------ ----------- -- ------------ TOTAL......................... $297,692,884 $21,378,987 -- $319,071,871 ============ =========== == ============ See accompanying Notes to Financial Statements. 18 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- COMMON STOCKS -- (91.1%) AUSTRALIA -- (5.5%) BHP Billiton, Ltd. Sponsored ADR. 9,527 $ 673,464 0.3% Commonwealth Bank of Australia... 8,591 618,574 0.3% National Australia Bank, Ltd..... 31,575 1,055,263 0.5% Origin Energy, Ltd............... 40,702 562,683 0.3% Other Securities................. 9,551,990 4.6% ----------- ---- TOTAL AUSTRALIA...................... 12,461,974 6.0% ----------- ---- AUSTRIA -- (0.4%) Other Securities................. 1,005,972 0.5% ----------- ---- BELGIUM -- (1.1%) Other Securities................. 2,493,166 1.2% ----------- ---- CANADA -- (8.3%) # Bank of Montreal................. 9,179 639,312 0.3% Bank of Nova Scotia.............. 10,879 661,410 0.3% # Royal Bank of Canada............. 12,404 833,001 0.4% Suncor Energy, Inc............... 18,330 666,114 0.3% # Toronto-Dominion Bank (The)...... 9,020 827,385 0.4% Other Securities................. 15,044,386 7.3% ----------- ---- TOTAL CANADA......................... 18,671,608 9.0% ----------- ---- CHINA -- (0.0%) Other Securities................. 2,206 0.0% ----------- ---- DENMARK -- (1.0%) Other Securities................. 2,319,890 1.1% ----------- ---- FINLAND -- (1.5%) Other Securities................. 3,482,144 1.7% ----------- ---- FRANCE -- (7.8%) BNP Paribas SA................... 10,243 755,658 0.4% Renault SA....................... 7,045 614,678 0.3% Societe Generale SA.............. 15,740 889,145 0.4% Vivendi SA....................... 23,608 597,739 0.3% Other Securities................. 14,635,081 7.1% ----------- ---- TOTAL FRANCE......................... 17,492,301 8.5% ----------- ---- GERMANY -- (5.9%) Allianz SE....................... 4,628 777,052 0.4% Daimler AG....................... 7,587 621,184 0.3% Deutsche Bank AG................. 12,619 609,865 0.3% Deutsche Post AG................. 17,877 603,731 0.3% Siemens AG Sponsored ADR......... 4,534 580,397 0.3% Other Securities................. 9,996,036 4.8% ----------- ---- TOTAL GERMANY........................ 13,188,265 6.4% ----------- ---- GREECE -- (0.2%) Other Securities................. 437,574 0.2% ----------- ---- HONG KONG -- (1.5%) Other Securities................. 3,394,369 1.6% ----------- ---- 19 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- IRELAND -- (0.2%) Other Securities...................... $ 510,911 0.3% ----------- ----- ISRAEL -- (0.2%) Other Securities...................... 432,790 0.2% ----------- ----- ITALY -- (2.1%) Eni SpA............................... 24,279 616,369 0.3% Other Securities...................... 4,195,926 2.0% ----------- ----- TOTAL ITALY............................... 4,812,295 2.3% ----------- ----- JAPAN -- (20.1%) Honda Motor Co., Ltd.................. 14,100 563,054 0.3% Mitsubishi UFJ Financial Group, Inc... 116,200 739,992 0.4% Softbank Corp......................... 7,684 573,863 0.3% Sumitomo Mitsui Financial Group, Inc.. 11,900 575,197 0.3% Toyota Motor Corp. Sponsored ADR...... 11,495 1,487,683 0.7% Other Securities...................... 41,351,707 19.9% ----------- ----- TOTAL JAPAN............................... 45,291,496 21.9% ----------- ----- NETHERLANDS -- (2.6%) #* ING Groep NV Sponsored ADR............ 56,475 718,362 0.3% Koninklijke Philips NV................ 16,162 571,176 0.3% Other Securities...................... 4,593,437 2.3% ----------- ----- TOTAL NETHERLANDS......................... 5,882,975 2.9% ----------- ----- NEW ZEALAND -- (0.3%) Other Securities...................... 580,879 0.3% ----------- ----- NORWAY -- (0.9%) Other Securities...................... 2,011,289 1.0% ----------- ----- PORTUGAL -- (0.3%) Other Securities...................... 623,732 0.3% ----------- ----- SINGAPORE -- (0.9%) Other Securities...................... 2,138,272 1.0% ----------- ----- SPAIN -- (2.5%) Banco Santander SA.................... 81,299 720,737 0.4% Other Securities...................... 4,879,712 2.3% ----------- ----- TOTAL SPAIN............................... 5,600,449 2.7% ----------- ----- SWEDEN -- (3.2%) Other Securities...................... 7,153,084 3.5% ----------- ----- SWITZERLAND -- (7.3%) Cie Financiere Richemont SA........... 6,065 620,144 0.3% Credit Suisse Group AG................ 21,840 679,397 0.3% Credit Suisse Group AG Sponsored ADR.. 21,939 682,961 0.4% Nestle SA............................. 26,495 1,912,513 0.9% Novartis AG........................... 10,302 799,668 0.4% Novartis AG ADR....................... 22,653 1,756,740 0.9% Roche Holding AG...................... 4,071 1,125,776 0.6% Swiss Re AG........................... 8,431 740,095 0.4% UBS AG................................ 29,907 578,433 0.3% 20 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- SWITZERLAND -- (Continued) Zurich Insurance Group AG............ 3,698 $ 1,021,843 0.5% Other Securities..................... 6,512,861 3.0% ------------ ----- TOTAL SWITZERLAND........................ 16,430,431 8.0% ------------ ----- UNITED KINGDOM -- (17.3%) AstraZeneca P.L.C. Sponsored ADR..... 11,519 608,894 0.3% Barclays P.L.C. Sponsored ADR........ 60,785 1,021,796 0.5% BP P.L.C. Sponsored ADR.............. 33,475 1,556,587 0.8% GlaxoSmithKline P.L.C. Sponsored ADR. 18,679 983,076 0.5% HSBC Holdings P.L.C. Sponsored ADR... 59,768 3,289,631 1.6% Imperial Tobacco Group P.L.C......... 15,348 573,001 0.3% * Lloyds Banking Group P.L.C........... 856,331 1,059,107 0.5% Rolls-Royce Holdings P.L.C........... 33,307 613,615 0.3% Royal Dutch Shell P.L.C. ADR......... 21,316 1,481,888 0.7% Standard Chartered P.L.C............. 27,011 648,534 0.3% Tesco P.L.C.......................... 124,729 727,561 0.4% Vodafone Group P.L.C................. 206,526 756,455 0.4% Vodafone Group P.L.C. Sponsored ADR.. 49,867 1,836,103 0.9% Other Securities..................... 23,722,531 11.3% ------------ ----- TOTAL UNITED KINGDOM..................... 38,878,779 18.8% ------------ ----- TOTAL COMMON STOCKS...................... 205,296,851 99.4% ------------ ----- PREFERRED STOCKS -- (0.1%) GERMANY -- (0.1%) Other Securities..................... 198,986 0.1% ------------ ----- UNITED KINGDOM -- (0.0%) Other Securities..................... 4,969 0.0% ------------ ----- TOTAL PREFERRED STOCKS................... 203,955 0.1% ------------ ----- RIGHTS/WARRANTS -- (0.0%) AUSTRIA -- (0.0%) Other Securities..................... -- 0.0% ------------ ----- FRANCE -- (0.0%) Other Securities..................... 9 0.0% ------------ ----- HONG KONG -- (0.0%) Other Securities..................... -- 0.0% ------------ ----- ITALY -- (0.0%) Other Securities..................... 249 0.0% ------------ ----- SPAIN -- (0.0%) Other Securities..................... 17,551 0.0% ------------ ----- TOTAL RIGHTS/WARRANTS.................... 17,809 0.0% ------------ ----- 21 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES/ FACE PERCENTAGE AMOUNT VALUE+ OF NET ASSETS** ------- ------ --------------- (000) SECURITIES LENDING COLLATERAL -- (8.8%) (S)@ DFA Short Term Investment Fund................................... 1,642,178 $ 19,000,000 9.2% @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $931,366 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $842,252) to be repurchased at $825,740............... $ 826 825,737 0.4% ------------ ------ TOTAL SECURITIES LENDING COLLATERAL.................................... 19,825,737 9.6% ------------ ------ TOTAL INVESTMENTS -- (100.0%) (Cost $186,413,758)................................................ $225,344,352 109.1% ============ ====== Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) --------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ----------- ------------ ------- ------------ Common Stocks Australia................... $ 1,120,673 $ 11,341,301 -- $ 12,461,974 Austria..................... -- 1,005,972 -- 1,005,972 Belgium..................... 576,569 1,916,597 -- 2,493,166 Canada...................... 18,671,589 19 -- 18,671,608 China....................... 2,206 -- -- 2,206 Denmark..................... 488,843 1,831,047 -- 2,319,890 Finland..................... 378,669 3,103,475 -- 3,482,144 France...................... 1,503,411 15,988,890 -- 17,492,301 Germany..................... 1,578,505 11,609,760 -- 13,188,265 Greece...................... 532 437,042 -- 437,574 Hong Kong................... 50,900 3,343,469 -- 3,394,369 Ireland..................... 9,543 501,368 -- 510,911 Israel...................... 10,360 422,430 -- 432,790 Italy....................... 274,577 4,537,718 -- 4,812,295 Japan....................... 3,927,602 41,363,894 -- 45,291,496 Netherlands................. 1,544,714 4,338,261 -- 5,882,975 New Zealand................. 9,566 571,313 -- 580,879 Norway...................... 147,394 1,863,895 -- 2,011,289 Portugal.................... 9,878 613,854 -- 623,732 Singapore................... -- 2,138,272 -- 2,138,272 Spain....................... 1,070,050 4,530,399 -- 5,600,449 Sweden...................... 243,522 6,909,562 -- 7,153,084 Switzerland................. 3,396,057 13,034,374 -- 16,430,431 United Kingdom.............. 14,563,145 24,315,634 -- 38,878,779 Preferred Stocks Germany..................... -- 198,986 -- 198,986 United Kingdom.............. -- 4,969 -- 4,969 Rights/Warrants Austria..................... -- -- -- -- France...................... -- 9 -- 9 Hong Kong................... -- -- -- -- Italy....................... -- 249 -- 249 Spain....................... -- 17,551 -- 17,551 Securities Lending Collateral. -- 19,825,737 -- 19,825,737 ----------- ------------ -- ------------ TOTAL......................... $49,578,305 $175,766,047 -- $225,344,352 =========== ============ == ============ See accompanying Notes to Financial Statements. 22 DFA INTERNATIONAL VALUE EX TOBACCO PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- COMMON STOCKS -- (92.3%) AUSTRALIA -- (5.1%) Suncorp Group, Ltd............... 35,006 $ 441,404 0.6% Wesfarmers, Ltd.................. 31,480 1,277,425 1.6% Other Securities................. 2,578,455 3.3% ----------- ------ TOTAL AUSTRALIA...................... 4,297,284 5.5% ----------- ------ AUSTRIA -- (0.3%) Other Securities................. 215,236 0.3% ----------- ------ BELGIUM -- (1.3%) Other Securities................. 1,045,488 1.4% ----------- ------ CANADA -- (8.5%) # Magna International, Inc......... 6,640 562,392 0.7% Manulife Financial Corp.......... 29,115 515,757 0.7% # Sun Life Financial, Inc.......... 12,850 432,832 0.5% Suncor Energy, Inc............... 32,505 1,181,235 1.5% # Thomson Reuters Corp............. 10,478 393,735 0.5% Other Securities................. 4,011,804 5.2% ----------- ------ TOTAL CANADA......................... 7,097,755 9.1% ----------- ------ DENMARK -- (1.5%) Other Securities................. 1,266,183 1.6% ----------- ------ FINLAND -- (0.9%) Other Securities................. 733,781 1.0% ----------- ------ FRANCE -- (10.5%) AXA SA Sponsored ADR............. 37,500 937,875 1.2% BNP Paribas SA................... 18,163 1,339,942 1.7% Cie de St-Gobain................. 9,008 472,830 0.6% GDF Suez......................... 37,268 923,641 1.2% Orange........................... 41,374 568,730 0.7% Renault SA....................... 4,615 402,660 0.5% Societe Generale SA.............. 17,972 1,015,229 1.3% Vivendi SA....................... 37,887 959,289 1.2% Other Securities................. 2,173,737 2.9% ----------- ------ TOTAL FRANCE......................... 8,793,933 11.3% ----------- ------ GERMANY -- (8.0%) Allianz SE....................... 4,496 754,889 1.0% Bayerische Motoren Werke AG...... 3,792 429,173 0.6% Daimler AG....................... 19,352 1,584,440 2.0% Deutsche Bank AG................. 15,365 742,437 1.0% Deutsche Telekom AG.............. 54,246 852,460 1.1% E.ON SE.......................... 33,149 604,256 0.8% Muenchener Rueckversicherungs AG. 3,004 626,731 0.8% Other Securities................. 1,077,942 1.3% ----------- ------ TOTAL GERMANY........................ 6,672,328 8.6% ----------- ------ GREECE -- (0.1%) Other Securities................. 78,215 0.1% ----------- ------ 23 DFA INTERNATIONAL VALUE EX TOBACCO PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- HONG KONG -- (1.8%) Hutchison Whampoa, Ltd................... 33,000 $ 410,989 0.5% Other Securities......................... 1,130,461 1.5% ----------- ------ TOTAL HONG KONG.............................. 1,541,450 2.0% ----------- ------ IRELAND -- (0.1%) Other Securities......................... 88,412 0.1% ----------- ------ ISRAEL -- (0.2%) Other Securities......................... 205,672 0.3% ----------- ------ ITALY -- (1.6%) UniCredit SpA............................ 91,100 683,850 0.9% Other Securities......................... 664,874 0.8% ----------- ------ TOTAL ITALY.................................. 1,348,724 1.7% ----------- ------ JAPAN -- (18.6%) Mitsubishi Corp.......................... 32,300 653,463 0.8% Mitsubishi UFJ Financial Group, Inc...... 321,100 2,044,849 2.6% Mitsui & Co., Ltd........................ 39,400 562,865 0.7% Nippon Steel & Sumitomo Metal Corp....... 157,000 518,187 0.7% NTT DOCOMO, Inc.......................... 30,100 477,537 0.6% Sony Corp. Sponsored ADR................. 22,200 382,950 0.5% Other Securities......................... 10,960,241 14.2% ----------- ------ TOTAL JAPAN.................................. 15,600,092 20.1% ----------- ------ NETHERLANDS -- (3.0%) * ING Groep NV............................. 65,495 832,291 1.1% Other Securities......................... 1,656,104 2.1% ----------- ------ TOTAL NETHERLANDS............................ 2,488,395 3.2% ----------- ------ NEW ZEALAND -- (0.0%) Other Securities......................... 38,787 0.1% ----------- ------ NORWAY -- (0.7%) Other Securities......................... 576,202 0.7% ----------- ------ PORTUGAL -- (0.0%) Other Securities......................... 23,585 0.0% ----------- ------ SINGAPORE -- (1.1%) Other Securities......................... 942,788 1.2% ----------- ------ SPAIN -- (2.0%) Banco Santander SA....................... 70,915 628,682 0.8% Iberdrola SA............................. 65,744 412,665 0.5% Other Securities......................... 588,979 0.8% ----------- ------ TOTAL SPAIN.................................. 1,630,326 2.1% ----------- ------ SWEDEN -- (2.4%) Nordea Bank AB........................... 41,285 528,097 0.7% Skandinaviska Enskilda Banken AB Class A. 35,139 425,008 0.6% Telefonaktiebolaget LM Ericsson Class B.. 44,784 535,671 0.7% Other Securities......................... 521,060 0.6% ----------- ------ TOTAL SWEDEN................................. 2,009,836 2.6% ----------- ------ 24 DFA INTERNATIONAL VALUE EX TOBACCO PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- SWITZERLAND -- (7.3%) Credit Suisse Group AG........................................... 32,573 $ 1,013,279 1.3% Holcim, Ltd...................................................... 7,487 556,879 0.7% Swiss Re AG...................................................... 11,290 991,066 1.3% UBS AG........................................................... 77,071 1,490,635 1.9% Zurich Insurance Group AG........................................ 3,199 883,958 1.2% Other Securities................................................. 1,167,482 1.5% ----------- ------ TOTAL SWITZERLAND...................................................... 6,103,299 7.9% ----------- ------ UNITED KINGDOM -- (17.3%) # Barclays P.L.C. Sponsored ADR.................................... 73,082 1,228,508 1.6% BP P.L.C. Sponsored ADR.......................................... 62,430 2,902,995 3.7% Glencore Xstrata P.L.C........................................... 134,343 731,126 0.9% HSBC Holdings P.L.C.............................................. 39,705 435,220 0.6% Kingfisher P.L.C................................................. 76,714 464,077 0.6% * Lloyds Banking Group P.L.C....................................... 468,283 579,171 0.7% Royal Dutch Shell P.L.C. ADR(780259107).......................... 28,341 1,970,266 2.5% Royal Dutch Shell P.L.C. ADR(780259206).......................... 6,236 415,692 0.5% Vodafone Group P.L.C. Sponsored ADR.............................. 63,609 2,342,083 3.0% Other Securities................................................. 3,398,022 4.5% ----------- ------ TOTAL UNITED KINGDOM................................................... 14,467,160 18.6% ----------- ------ TOTAL COMMON STOCKS.................................................... 77,264,931 99.5% ----------- ------ PREFERRED STOCKS -- (0.2%) GERMANY -- (0.2%) Other Securities................................................. 196,744 0.2% ----------- ------ RIGHTS/WARRANTS -- (0.0%) HONG KONG -- (0.0%) Other Securities................................................. -- 0.0% ----------- ------ SPAIN -- (0.0%) Other Securities................................................. 15,309 0.0% ----------- ------ TOTAL RIGHTS/WARRANTS.................................................. 15,309 0.0% ----------- ------ SHARES/ FACE AMOUNT VALUE+ ------- ------ (000) SECURITIES LENDING COLLATERAL -- (7.5%) (S)@ DFA Short Term Investment Fund................................... 518,583 6,000,000 7.7% @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $297,899 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $269,395) to be repurchased at $264,114............... $ 264 264,113 0.4% ----------- ------ TOTAL SECURITIES LENDING COLLATERAL.................................... 6,264,113 8.1% ----------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $77,262,854)................................................. $83,741,097 107.8% =========== ====== 25 DFA INTERNATIONAL VALUE EX TOBACCO PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ----------- ----------- ------- ----------- Common Stocks Australia................... -- $ 4,297,284 -- $ 4,297,284 Austria..................... -- 215,236 -- 215,236 Belgium..................... -- 1,045,488 -- 1,045,488 Canada...................... $ 7,097,755 -- -- 7,097,755 Denmark..................... -- 1,266,183 -- 1,266,183 Finland..................... -- 733,781 -- 733,781 France...................... 937,875 7,856,058 -- 8,793,933 Germany..................... 742,437 5,929,891 -- 6,672,328 Greece...................... -- 78,215 -- 78,215 Hong Kong................... -- 1,541,450 -- 1,541,450 Ireland..................... 14,492 73,920 -- 88,412 Israel...................... -- 205,672 -- 205,672 Italy....................... -- 1,348,724 -- 1,348,724 Japan....................... 620,569 14,979,523 -- 15,600,092 Netherlands................. 97,712 2,390,683 -- 2,488,395 New Zealand................. -- 38,787 -- 38,787 Norway...................... -- 576,202 -- 576,202 Portugal.................... -- 23,585 -- 23,585 Singapore................... -- 942,788 -- 942,788 Spain....................... -- 1,630,326 -- 1,630,326 Sweden...................... -- 2,009,836 -- 2,009,836 Switzerland................. 155,524 5,947,775 -- 6,103,299 United Kingdom.............. 9,921,550 4,545,610 -- 14,467,160 Preferred Stocks Germany..................... -- 196,744 -- 196,744 Rights/Warrants Hong Kong................... -- -- -- -- Spain....................... -- 15,309 -- 15,309 Securities Lending Collateral. -- 6,264,113 -- 6,264,113 ----------- ----------- -- ----------- TOTAL......................... $19,587,914 $64,153,183 -- $83,741,097 =========== =========== == =========== See accompanying Notes to Financial Statements. 26 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- COMMON STOCKS -- (92.2%) AUSTRALIA -- (6.5%) Australia & New Zealand Banking Group, Ltd.. 24,858 $ 795,465 0.5% Commonwealth Bank of Australia.............. 5,465 393,494 0.3% National Australia Bank, Ltd................ 23,943 800,195 0.6% Wesfarmers, Ltd............................. 11,142 452,131 0.3% Westpac Banking Corp........................ 19,827 643,726 0.4% Other Securities............................ 7,341,993 4.9% ----------- ---- TOTAL AUSTRALIA................................. 10,427,004 7.0% ----------- ---- AUSTRIA -- (0.7%) Other Securities............................ 1,046,446 0.7% ----------- ---- BELGIUM -- (1.2%) Other Securities............................ 1,909,034 1.3% ----------- ---- CANADA -- (8.9%) Bank of Montreal............................ 5,295 369,062 0.3% Bank of Nova Scotia......................... 9,804 595,789 0.4% Canadian Natural Resources, Ltd............. 11,986 380,556 0.3% Manulife Financial Corp..................... 19,951 353,133 0.3% Suncor Energy, Inc.......................... 15,693 570,441 0.4% Toronto-Dominion Bank (The)................. 7,802 715,599 0.5% Other Securities............................ 11,402,585 7.5% ----------- ---- TOTAL CANADA.................................... 14,387,165 9.7% ----------- ---- COLOMBIA -- (0.0%) Other Securities............................ 518 0.0% ----------- ---- DENMARK -- (1.2%) Other Securities............................ 1,851,323 1.2% ----------- ---- FINLAND -- (1.5%) Sampo Class A............................... 7,907 374,006 0.3% UPM-Kymmene Oyj............................. 24,046 381,784 0.3% Other Securities............................ 1,728,023 1.1% ----------- ---- TOTAL FINLAND................................... 2,483,813 1.7% ----------- ---- FRANCE -- (6.8%) AXA SA...................................... 21,673 539,992 0.4% BNP Paribas SA.............................. 11,320 835,112 0.6% Cie de St-Gobain............................ 7,158 375,724 0.3% GDF Suez.................................... 15,034 372,599 0.3% Societe Generale SA......................... 7,102 401,188 0.3% Total SA.................................... 10,657 653,838 0.4% # Total SA Sponsored ADR...................... 6,978 426,914 0.3% Other Securities............................ 7,370,758 4.8% ----------- ---- TOTAL FRANCE.................................... 10,976,125 7.4% ----------- ---- GERMANY -- (5.8%) Allianz SE.................................. 5,326 894,248 0.6% BASF SE..................................... 3,395 352,450 0.3% # Deutsche Bank AG............................ 10,685 516,299 0.4% Deutsche Telekom AG......................... 27,315 429,247 0.3% 27 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- GERMANY -- (Continued) E.ON SE............................... 19,836 $ 361,580 0.3% Muenchener Rueckversicherungs AG...... 1,970 411,006 0.3% RWE AG................................ 12,966 477,694 0.3% Other Securities...................... 5,833,741 3.7% ----------- ----- TOTAL GERMANY............................. 9,276,265 6.2% ----------- ----- HONG KONG -- (3.0%) # AIA Group, Ltd........................ 90,200 458,020 0.3% Other Securities...................... 4,348,078 2.9% ----------- ----- TOTAL HONG KONG........................... 4,806,098 3.2% ----------- ----- IRELAND -- (0.5%) Other Securities...................... 883,512 0.6% ----------- ----- ISRAEL -- (0.5%) Other Securities...................... 730,817 0.5% ----------- ----- ITALY -- (2.4%) Intesa Sanpaolo SpA................... 141,596 351,282 0.3% # UniCredit SpA......................... 56,311 422,703 0.3% Other Securities...................... 3,136,359 2.0% ----------- ----- TOTAL ITALY............................... 3,910,344 2.6% ----------- ----- JAPAN -- (19.5%) Mitsubishi UFJ Financial Group, Inc... 136,900 871,815 0.6% Mizuho Financial Group, Inc........... 231,099 485,091 0.3% Sumitomo Mitsui Financial Group, Inc.. 11,200 541,362 0.4% Other Securities...................... 29,542,582 19.8% ----------- ----- TOTAL JAPAN............................... 31,440,850 21.1% ----------- ----- NETHERLANDS -- (2.4%) #* ING Groep NV.......................... 43,896 557,817 0.4% Other Securities...................... 3,260,131 2.2% ----------- ----- TOTAL NETHERLANDS......................... 3,817,948 2.6% ----------- ----- NEW ZEALAND -- (0.3%) Other Securities...................... 485,815 0.3% ----------- ----- NORWAY -- (1.0%) Other Securities...................... 1,642,875 1.1% ----------- ----- PORTUGAL -- (0.3%) Other Securities...................... 512,768 0.4% ----------- ----- SINGAPORE -- (1.5%) Other Securities...................... 2,336,218 1.6% ----------- ----- SPAIN -- (2.9%) Banco Bilbao Vizcaya Argentaria SA.... 42,167 492,803 0.3% # Banco Santander SA.................... 111,621 989,552 0.7% Other Securities...................... 3,261,759 2.2% ----------- ----- TOTAL SPAIN............................... 4,744,114 3.2% ----------- ----- 28 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- SWEDEN -- (2.8%) Nordea Bank AB..................... 30,157 $ 385,753 0.3% Other Securities................... 4,121,034 2.7% ------------ ----- TOTAL SWEDEN........................... 4,506,787 3.0% ------------ ----- SWITZERLAND -- (4.8%) Swiss Re AG........................ 6,996 614,127 0.4% UBS AG............................. 36,724 710,977 0.5% Zurich Insurance Group AG.......... 2,123 586,634 0.4% Other Securities................... 5,798,709 3.9% ------------ ----- TOTAL SWITZERLAND...................... 7,710,447 5.2% ------------ ----- UNITED KINGDOM -- (17.7%) Barclays P.L.C. Sponsored ADR...... 38,983 655,304 0.4% BG Group P.L.C..................... 32,328 659,480 0.5% BP P.L.C. Sponsored ADR............ 31,949 1,485,628 1.0% HSBC Holdings P.L.C. Sponsored ADR. 40,434 2,225,487 1.5% #* Lloyds Banking Group P.L.C. ADR.... 76,919 386,903 0.3% Rio Tinto P.L.C. Sponsored ADR..... 10,993 557,345 0.4% Royal Dutch Shell P.L.C. ADR....... 21,594 1,439,456 1.0% Standard Chartered P.L.C........... 17,551 421,399 0.3% Tesco P.L.C........................ 66,068 385,384 0.3% Vodafone Group P.L.C............... 462,300 1,693,293 1.1% Other Securities................... 18,568,452 12.3% ------------ ----- TOTAL UNITED KINGDOM................... 28,478,131 19.1% ------------ ----- TOTAL COMMON STOCKS.................... 148,364,417 99.7% ------------ ----- PREFERRED STOCKS -- (0.0%) UNITED KINGDOM -- (0.0%) Other Securities................... 1,408 0.0% ------------ ----- TOTAL PREFERRED STOCKS................. 1,408 0.0% ------------ ----- RIGHTS/WARRANTS -- (0.0%) FRANCE -- (0.0%) Other Securities................... 19 0.0% ------------ ----- HONG KONG -- (0.0%) Other Securities................... -- 0.0% ------------ ----- ITALY -- (0.0%) Other Securities................... 358 0.0% ------------ ----- SPAIN -- (0.0%) Other Securities................... 24,097 0.0% ------------ ----- TOTAL RIGHTS/WARRANTS.................. 24,474 0.0% ------------ ----- 29 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES/ FACE PERCENTAGE AMOUNT VALUE+ OF NET ASSETS** ------- ------ --------------- (000) SECURITIES LENDING COLLATERAL -- (7.8%) (S)@ DFA Short Term Investment Fund................................... 1,037,165 $ 12,000,000 8.1% @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $580,242 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $524,724) to be repurchased at $514,437............... $ 514 514,435 0.3% ------------ ------ TOTAL SECURITIES LENDING COLLATERAL.................................... 12,514,435 8.4% ------------ ------ TOTAL INVESTMENTS -- (100.0%) (Cost $142,394,371)................................................ $160,904,734 108.1% ============ ====== Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) --------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ----------- ------------ ------- ------------ Common Stocks Australia................... $ 71,821 $ 10,355,183 -- $ 10,427,004 Austria..................... -- 1,046,446 -- 1,046,446 Belgium..................... 88,749 1,820,285 -- 1,909,034 Canada...................... 14,387,165 -- -- 14,387,165 Colombia.................... 518 -- -- 518 Denmark..................... -- 1,851,323 -- 1,851,323 Finland..................... -- 2,483,813 -- 2,483,813 France...................... 470,882 10,505,243 -- 10,976,125 Germany..................... 620,235 8,656,030 -- 9,276,265 Hong Kong................... 147 4,805,951 -- 4,806,098 Ireland..................... 278,627 604,885 -- 883,512 Israel...................... 91,741 639,076 -- 730,817 Italy....................... 263,776 3,646,568 -- 3,910,344 Japan....................... 94,887 31,345,963 -- 31,440,850 Netherlands................. 440,234 3,377,714 -- 3,817,948 New Zealand................. -- 485,815 -- 485,815 Norway...................... 161,127 1,481,748 -- 1,642,875 Portugal.................... -- 512,768 -- 512,768 Singapore................... -- 2,336,218 -- 2,336,218 Spain....................... 91,886 4,652,228 -- 4,744,114 Sweden...................... -- 4,506,787 -- 4,506,787 Switzerland................. 1,263,752 6,446,695 -- 7,710,447 United Kingdom.............. 8,418,710 20,059,421 -- 28,478,131 Preferred Stocks United Kingdom.............. -- 1,408 -- 1,408 Rights/Warrants France...................... -- 19 -- 19 Hong Kong................... -- -- -- -- Italy....................... -- 358 -- 358 Spain....................... -- 24,097 -- 24,097 Securities Lending Collateral. -- 12,514,435 -- 12,514,435 ----------- ------------ -- ------------ TOTAL......................... $26,744,257 $134,160,477 -- $160,904,734 =========== ============ == ============ See accompanying Notes to Financial Statements. 30 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS OCTOBER 31, 2013 PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- COMMON STOCKS -- (90.9%) BRAZIL -- (9.2%) Banco Bradesco SA................................... 136,484 $ 2,198,193 0.3% # Banco Bradesco SA ADR............................... 189,512 2,732,769 0.4% Banco do Brasil SA.................................. 159,126 2,106,319 0.3% BM&FBovespa SA...................................... 473,125 2,666,586 0.4% Itau Unibanco Holding SA ADR........................ 220,980 3,405,303 0.5% Petroleo Brasileiro SA ADR.......................... 211,598 3,688,153 0.5% # Petroleo Brasileiro SA Sponsored ADR................ 265,580 4,822,933 0.6% # Vale SA Sponsored ADR(91912E105).................... 213,281 3,414,629 0.5% Vale SA Sponsored ADR(91912E204).................... 328,650 4,811,436 0.6% Other Securities.................................... 45,038,090 5.7% ------------ ----- TOTAL BRAZIL............................................ 74,884,411 9.8% ------------ ----- CHILE -- (1.5%) Other Securities.................................... 11,899,695 1.5% ------------ ----- CHINA -- (13.8%) Bank of China, Ltd. Class H......................... 9,858,356 4,641,410 0.6% China Construction Bank Corp. Class H............... 9,695,990 7,543,738 1.0% # China Mobile, Ltd. Sponsored ADR.................... 99,597 5,181,036 0.7% CNOOC, Ltd. ADR..................................... 16,647 3,367,855 0.5% Industrial & Commercial Bank of China, Ltd. Class H. 9,815,017 6,867,912 0.9% # Tencent Holdings, Ltd............................... 66,500 3,627,986 0.5% Other Securities.................................... 81,171,098 10.5% ------------ ----- TOTAL CHINA............................................. 112,401,035 14.7% ------------ ----- COLOMBIA -- (0.7%) Other Securities.................................... 5,418,921 0.7% ------------ ----- CZECH REPUBLIC -- (0.3%) Other Securities.................................... 2,281,563 0.3% ------------ ----- EGYPT -- (0.1%) Other Securities.................................... 477,056 0.1% ------------ ----- HONG KONG -- (0.0%) Other Securities.................................... 16,177 0.0% ------------ ----- HUNGARY -- (0.3%) Other Securities.................................... 2,216,250 0.3% ------------ ----- INDIA -- (5.4%) HDFC Bank, Ltd...................................... 195,532 2,174,850 0.3% Other Securities.................................... 42,196,161 5.5% ------------ ----- TOTAL INDIA............................................. 44,371,011 5.8% ------------ ----- INDONESIA -- (2.4%) Other Securities.................................... 19,893,835 2.6% ------------ ----- MALAYSIA -- (3.9%) CIMB Group Holdings Bhd............................. 963,168 2,289,474 0.3% Malayan Banking Bhd................................. 838,796 2,599,948 0.4% Other Securities.................................... 26,968,353 3.5% ------------ ----- TOTAL MALAYSIA.......................................... 31,857,775 4.2% ------------ ----- 31 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- MEXICO -- (5.3%) Alfa S.A.B. de C.V. Class A............................. 802,622 $ 2,197,372 0.3% # America Movil S.A.B. de C.V. Series L................... 1,841,832 1,972,093 0.3% America Movil S.A.B. de C.V. Series L ADR............... 133,377 2,855,602 0.4% * Cemex S.A.B. de C.V. Sponsored ADR...................... 326,379 3,453,090 0.5% Fomento Economico Mexicano S.A.B. de C.V. Sponsored ADR. 38,039 3,549,039 0.5% Grupo Financiero Banorte S.A.B. de C.V.................. 532,846 3,410,933 0.4% Grupo Mexico S.A.B. de C.V. Series B.................... 889,168 2,817,996 0.4% Grupo Televisa S.A.B. Sponsored ADR..................... 89,689 2,730,133 0.4% Other Securities........................................ 20,346,499 2.5% ------------ ----- TOTAL MEXICO................................................ 43,332,757 5.7% ------------ ----- PERU -- (0.2%) Other Securities........................................ 1,513,577 0.2% ------------ ----- PHILIPPINES -- (1.4%) Other Securities........................................ 11,128,459 1.4% ------------ ----- POLAND -- (1.9%) Other Securities........................................ 15,693,827 2.0% ------------ ----- RUSSIA -- (4.3%) Gazprom OAO Sponsored ADR............................... 1,236,542 11,558,454 1.5% Lukoil OAO Sponsored ADR................................ 96,083 6,292,846 0.8% Sberbank of Russia Sponsored ADR........................ 345,217 4,402,337 0.6% Tatneft OAO Sponsored ADR............................... 53,256 2,187,646 0.3% Other Securities........................................ 10,908,949 1.4% ------------ ----- TOTAL RUSSIA................................................ 35,350,232 4.6% ------------ ----- SOUTH AFRICA -- (6.6%) Bidvest Group, Ltd...................................... 72,075 1,920,405 0.3% # FirstRand, Ltd.......................................... 600,025 2,154,082 0.3% Naspers, Ltd. Class N................................... 45,744 4,281,811 0.6% Sanlam, Ltd............................................. 489,472 2,626,297 0.3% Sasol, Ltd. Sponsored ADR............................... 91,297 4,657,973 0.6% Standard Bank Group, Ltd................................ 194,365 2,472,731 0.3% Other Securities........................................ 36,011,155 4.7% ------------ ----- TOTAL SOUTH AFRICA.......................................... 54,124,454 7.1% ------------ ----- SOUTH KOREA -- (14.5%) Hana Financial Group, Inc............................... 76,265 2,932,550 0.4% Hyundai Mobis........................................... 10,987 3,099,213 0.4% KB Financial Group, Inc. ADR............................ 48,292 1,874,213 0.3% LG Chem, Ltd............................................ 7,409 2,089,945 0.3% Samsung C&T Corp........................................ 34,349 2,038,199 0.3% Samsung Electronics Co., Ltd............................ 10,410 14,355,995 1.9% Samsung Electronics Co., Ltd. GDR....................... 13,909 9,640,046 1.3% SK Innovation Co., Ltd.................................. 15,708 2,201,618 0.3% Other Securities........................................ 79,932,656 10.3% ------------ ----- TOTAL SOUTH KOREA........................................... 118,164,435 15.5% ------------ ----- TAIWAN -- (13.6%) Hon Hai Precision Industry Co., Ltd..................... 1,519,856 3,863,920 0.5% Taiwan Semiconductor Manufacturing Co., Ltd............. 2,131,214 7,854,728 1.1% Other Securities........................................ 98,935,980 12.9% ------------ ----- TOTAL TAIWAN................................................ 110,654,628 14.5% ------------ ----- 32 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED PERCENTAGE SHARES VALUE++ OF NET ASSETS** ------ ------- --------------- THAILAND -- (3.3%) Other Securities................................................. $ 26,621,365 3.5% ------------ ------ TURKEY -- (2.2%) Turkiye Garanti Bankasi A.S...................................... 484,986 1,944,712 0.3% Other Securities................................................. 15,639,677 2.0% ------------ ------ TOTAL TURKEY........................................................... 17,584,389 2.3% ------------ ------ TOTAL COMMON STOCKS.................................................... 739,885,852 96.8% ------------ ------ PREFERRED STOCKS -- (2.4%) BRAZIL -- (2.3%) Banco Bradesco SA................................................ 270,290 3,894,050 0.5% Itau Unibanco Holding SA......................................... 331,418 5,127,976 0.7% Petroleo Brasileiro SA........................................... 269,582 2,444,332 0.3% Other Securities................................................. 7,501,733 1.0% ------------ ------ TOTAL BRAZIL........................................................... 18,968,091 2.5% ------------ ------ CHILE -- (0.0%) Other Securities................................................. 181,768 0.0% ------------ ------ COLOMBIA -- (0.1%) Other Securities................................................. 562,935 0.1% ------------ ------ TOTAL PREFERRED STOCKS................................................. 19,712,794 2.6% ------------ ------ RIGHTS/WARRANTS -- (0.0%) BRAZIL -- (0.0%) Other Securities................................................. 136 0.0% ------------ ------ CHILE -- (0.0%) Other Securities................................................. 3 0.0% ------------ ------ MALAYSIA -- (0.0%) Other Securities................................................. 14,519 0.0% ------------ ------ POLAND -- (0.0%) Other Securities................................................. -- 0.0% ------------ ------ SOUTH KOREA -- (0.0%) Other Securities................................................. 1,012 0.0% ------------ ------ TOTAL RIGHTS/WARRANTS.................................................. 15,670 0.0% ------------ ------ SHARES/ FACE AMOUNT VALUE+ ------- ------ - (000) SECURITIES LENDING COLLATERAL -- (6.7%) (S)@ DFA Short Term Investment Fund................................... 4,667,243 54,000,000 7.1% @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $160,553 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $145,191) to be repurchased at $142,344............... $ 142 142,344 0.0% ------------ ------ TOTAL SECURITIES LENDING COLLATERAL.................................... 54,142,344 7.1% ------------ ------ TOTAL INVESTMENTS -- (100.0%) (Cost $732,651,756)................................................ $813,756,660 106.5% ============ ====== 33 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): INVESTMENTS IN SECURITIES (MARKET VALUE) ---------------------------------------------- LEVEL 1 LEVEL 2 LEVEL 3 TOTAL ------------ ------------ ------- ------------ Common Stocks Brazil...................... $ 35,909,850 $ 38,974,561 -- $ 74,884,411 Chile....................... 3,291,245 8,608,450 -- 11,899,695 China....................... 12,825,031 99,576,004 -- 112,401,035 Colombia.................... 5,418,921 -- -- 5,418,921 Czech Republic.............. -- 2,281,563 -- 2,281,563 Egypt....................... -- 477,056 -- 477,056 Hong Kong................... -- 16,177 -- 16,177 Hungary..................... -- 2,216,250 -- 2,216,250 India....................... 3,734,515 40,636,496 -- 44,371,011 Indonesia................... 1,072,288 18,821,547 -- 19,893,835 Malaysia.................... -- 31,857,775 -- 31,857,775 Mexico...................... 43,325,797 6,960 -- 43,332,757 Peru........................ 1,513,577 -- -- 1,513,577 Philippines................. 320,894 10,807,565 -- 11,128,459 Poland...................... -- 15,693,827 -- 15,693,827 Russia...................... 1,319,939 34,030,293 -- 35,350,232 South Africa................ 7,348,814 46,775,640 -- 54,124,454 South Korea................. 4,897,343 113,267,092 -- 118,164,435 Taiwan...................... 4,289,434 106,365,194 -- 110,654,628 Thailand.................... 26,621,365 -- -- 26,621,365 Turkey...................... 535,998 17,048,391 -- 17,584,389 Preferred Stocks Brazil...................... 242,208 18,725,883 -- 18,968,091 Chile....................... -- 181,768 -- 181,768 Colombia.................... 562,935 -- -- 562,935 Rights/Warrants Brazil...................... -- 136 -- 136 Chile....................... -- 3 -- 3 Malaysia.................... -- 14,519 -- 14,519 Poland...................... -- -- -- -- South Korea................. -- 1,012 -- 1,012 Securities Lending Collateral. -- 54,142,344 -- 54,142,344 ------------ ------------ -- ------------ TOTAL......................... $153,230,154 $660,526,506 -- $813,756,660 ============ ============ == ============ See accompanying Notes to Financial Statements. 34 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS) U.S. INTERNATIONAL U.S. SOCIAL SUSTAINABILITY SUSTAINABILITY CORE EQUITY 2 CORE 1 CORE 1 PORTFOLIO PORTFOLIO PORTFOLIO* ------------- -------------- -------------- ASSETS: Investments at Value (including $30,850, $20,755 and $19,458 of securities on loan, respectively).................................................... $ 409,127 $ 297,025 $ 205,518 Temporary Cash Investments at Value & Cost................................. 1,948 668 -- Collateral Received from Securities on Loan at Value & Cost................ -- -- 826 Collateral from Securities on Loan Invested in Affiliate at Value & Cost... 31,802 21,379 19,000 Foreign Currencies at Value................................................ -- -- 385 Cash....................................................................... 27 4 830 Receivables: Investment Securities Sold............................................... -- 1 24 Dividends, Interest and Tax Reclaims..................................... 297 231 476 Securities Lending Income................................................ 17 10 16 Fund Shares Sold......................................................... 139 219 128 Prepaid Expenses and Other Assets.......................................... 13 6 5 ------------ ------------ ------------ Total Assets.......................................................... 443,370 319,543 227,208 ------------ ------------ ------------ LIABILITIES: Payables: Upon Return of Securities Loaned......................................... 31,802 21,379 19,826 Investment Securities Purchased.......................................... 237 -- 475 Fund Shares Redeemed..................................................... 184 401 163 Due to Advisor........................................................... 85 74 105 Unrealized Loss on Foreign Currency Contracts.............................. -- -- 6 Accrued Expenses and Other Liabilities..................................... 37 28 31 ------------ ------------ ------------ Total Liabilities..................................................... 32,345 21,882 20,606 ------------ ------------ ------------ NET ASSETS................................................................. $ 411,025 $ 297,661 $ 206,602 ============ ============ ============ SHARES OUTSTANDING, $0.01 PAR VALUE (1).................................... 33,957,010 20,096,482 21,107,558 ============ ============ ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE..................................................................... $ 12.10 $ 14.81 $ 9.79 ============ ============ ============ Investments at Cost........................................................ $ 295,137 $ 196,443 $ 166,588 ============ ============ ============ Foreign Currencies at Cost................................................. $ -- $ -- $ 385 ============ ============ ============ NET ASSETS CONSIST OF: Paid-In Capital............................................................ $ 288,953 $ 194,386 $ 167,269 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)........................................................ 395 392 406 Accumulated Net Realized Gain (Loss)....................................... 7,687 2,301 (6) Net Unrealized Foreign Exchange Gain (Loss)................................ -- -- 3 Net Unrealized Appreciation (Depreciation)................................. 113,990 100,582 38,930 ------------ ------------ ------------ NET ASSETS................................................................. $ 411,025 $ 297,661 $ 206,602 ============ ============ ============ (1) NUMBER OF SHARES AUTHORIZED............................................ 300,000,000 300,000,000 300,000,000 ============ ============ ============ ---------- * See Note I in the Notes to Financial Statements for additional securities lending collateral. See accompanying Notes to Financial Statements. 35 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS) DFA INTERNATIONAL INTERNATIONAL EMERGING VALUE EX SOCIAL CORE MARKETS SOCIAL TOBACCO EQUITY CORE EQUITY PORTFOLIO* PORTFOLIO* PORTFOLIO* ------------- ------------- -------------- ASSETS: Investments at Value (including $6,586, $12,166 and $57,506 of securities on loan, respectively)......................................................... $ 77,477 $ 148,391 $ 759,615 Collateral Received from Securities on Loan at Value & Cost.................. 264 514 142 Collateral from Securities on Loan Invested in Affiliate at Value & Cost..... 6,000 12,000 54,000 Foreign Currencies at Value.................................................. 127 56 1,823 Cash......................................................................... 13 92 2,648 Receivables: Investment Securities Sold................................................. 17 5 355 Dividends, Interest and Tax Reclaims....................................... 165 323 810 Securities Lending Income.................................................. 3 12 112 Fund Shares Sold........................................................... -- 18 329 From Advisor............................................................... -- 19 -- Prepaid Expenses and Other Assets............................................ 5 13 10 ------------ ------------ ------------ Total Assets............................................................ 84,071 161,443 819,844 ------------ ------------ ------------ LIABILITIES: Payables: Upon Return of Securities Loaned........................................... 6,264 12,514 54,142 Investment Securities Purchased............................................ 77 20 889 Fund Shares Redeemed....................................................... -- 11 109 Due to Advisor............................................................. 26 -- 352 Unrealized Loss on Foreign Currency Contracts................................ -- -- 3 Accrued Expenses and Other Liabilities....................................... 16 42 162 ------------ ------------ ------------ Total Liabilities....................................................... 6,383 12,587 55,657 ------------ ------------ ------------ NET ASSETS................................................................... $ 77,688 $ 148,856 $ 764,187 ============ ============ ============ SHARES OUTSTANDING, $0.01 PAR VALUE (1)...................................... 8,018,057 12,104,170 59,158,000 ============ ============ ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE....................................................................... $ 9.69 $ 12.30 $ 12.92 ============ ============ ============ Investments at Cost.......................................................... $ 70,999 $ 129,880 $ 678,510 ============ ============ ============ Foreign Currencies at Cost................................................... $ 127 $ 56 $ 1,823 ============ ============ ============ NET ASSETS CONSIST OF: Paid-In Capital.............................................................. $ 70,789 $ 129,499 $ 681,490 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income).......................................................... 148 383 1,776 Accumulated Net Realized Gain (Loss)......................................... 272 462 (186) Net Unrealized Foreign Exchange Gain (Loss).................................. 1 1 2 Net Unrealized Appreciation (Depreciation)................................... 6,478 18,511 81,105 ------------ ------------ ------------ NET ASSETS................................................................... $ 77,688 $ 148,856 $ 764,187 ============ ============ ============ (1) NUMBER OF SHARES AUTHORIZED.............................................. 300,000,000 400,000,000 500,000,000 ============ ============ ============ ---------- * See Note I in the Notes to Financial Statements for additional securities lending collateral. See accompanying Notes to Financial Statements. 36 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS) U.S. INTERNATIONAL U.S. SOCIAL SUSTAINABILITY SUSTAINABILITY CORE EQUITY 2 CORE 1 CORE 1 PORTFOLIO PORTFOLIO PORTFOLIO ------------- -------------- -------------- INVESTMENT INCOME Dividends (Net of Foreign Taxes Withheld of $4, $0 and $430, respectively). $ 6,151 $ 4,663 $ 5,101 Interest................................................................... 4 2 -- Income from Securities Lending............................................. 214 138 293 ------- ------- ------- Total Investment Income................................................. 6,369 4,803 5,394 ------- ------- ------- EXPENSES Investment Advisory Services Fees.......................................... 823 719 735 Accounting & Transfer Agent Fees........................................... 35 29 31 Custodian Fees............................................................. 17 13 56 Filing Fees................................................................ 26 22 20 Shareholders' Reports...................................................... 9 10 7 Directors'/Trustees' Fees & Expenses....................................... 3 3 2 Professional Fees.......................................................... 11 7 6 Other...................................................................... 77 9 10 ------- ------- ------- Total Expenses.......................................................... 1,001 812 867 ------- ------- ------- Fees (Waived), Expenses Reimbursed, and/or Previously Waived Fees Recovered by Advisor (Note C)............................................. -- 7 46 Fees Paid Indirectly....................................................... -- -- (1) ------- ------- ------- Net Expenses............................................................... 1,001 819 912 ------- ------- ------- NET INVESTMENT INCOME (LOSS)............................................... 5,368 3,984 4,482 ------- ------- ------- REALIZED AND UNREALIZED GAIN (LOSS) Capital Gain Distributions Received from Investment Securities............. -- 3 -- Net Realized Gain (Loss) on: Investment Securities Sold............................................... 7,956 2,387 521 Futures.................................................................. 175 -- -- Foreign Currency Transactions............................................ -- -- (19) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency............................... 80,194 62,760 37,246 Translation of Foreign Currency Denominated Amounts...................... -- -- 10 ------- ------- ------- NET REALIZED AND UNREALIZED GAIN (LOSS).................................... 88,325 65,150 37,758 ------- ------- ------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS.............. $93,693 $69,134 $42,240 ======= ======= ======= See accompanying Notes to Financial Statements. 37 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2013 (AMOUNTS IN THOUSANDS) DFA INTERNATIONAL INTERNATIONAL EMERGING VALUE EX SOCIAL CORE MARKETS SOCIAL TOBACCO EQUITY CORE EQUITY PORTFOLIO PORTFOLIO(A) PORTFOLIO ------------- ------------- -------------- INVESTMENT INCOME Dividends (Net of Foreign Taxes Withheld of $169, $187 and $2,067, respectively)...................................................... $ 2,138 $ 2,428 $15,182 Income from Securities Lending...................................... 110 120 1,126 ------- ------- ------- Total Investment Income.......................................... 2,248 2,548 16,308 ------- ------- ------- EXPENSES Investment Advisory Services Fees................................... 303 311 3,465 Accounting & Transfer Agent Fees.................................... 23 22 65 Custodian Fees...................................................... 19 139 448 Filing Fees......................................................... 15 18 66 Shareholders' Reports............................................... 1 1 15 Directors'/Trustees' Fees & Expenses................................ 1 1 6 Professional Fees................................................... 2 2 43 Organizational & Offering Costs..................................... -- 49 -- Other............................................................... 11 25 39 ------- ------- ------- Total Expenses................................................... 375 568 4,147 ------- ------- ------- Fees (Waived), Expenses Reimbursed, and/or Previously Waived Fees Recovered by Advisor (Note C)...................................... 27 (66) -- Fees Paid Indirectly................................................ -- (2) (7) ------- ------- ------- Net Expenses........................................................ 402 500 4,140 ------- ------- ------- NET INVESTMENT INCOME (LOSS)........................................ 1,846 2,048 12,168 ------- ------- ------- REALIZED AND UNREALIZED GAIN (LOSS) Net Realized Gain (Loss) on: Investment Securities Sold........................................ 1,032 469 183 Futures........................................................... -- 15 -- Foreign Currency Transactions*.................................... (1) 2 (128) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency........................ 13,831 18,511 32,111 Translation of Foreign Currency Denominated Amounts............... 4 1 2 ------- ------- ------- NET REALIZED AND UNREALIZED GAIN (LOSS)............................. 14,866 18,998 32,168 ------- ------- ------- NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS....... $16,712 $21,046 $44,336 ======= ======= ======= ---------- * Net of foreign capital gain taxes withheld of $0, $0 and $3, respectively. (a)The Portfolio commenced operations on November 1, 2012. See accompanying Notes to Financial Statements. 38 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (AMOUNTS IN THOUSANDS) INTERNATIONAL U.S. SOCIAL CORE U.S. SUSTAINABILITY SUSTAINABILITY EQUITY 2 PORTFOLIO CORE 1 PORTFOLIO CORE 1 PORTFOLIO ------------------ ------------------ ------------------ YEAR YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2013 2012 2013 2012 -------- -------- -------- -------- -------- -------- INCREASE (DECREASE) IN NET ASSETS Operations: Net Investment Income (Loss).......................... $ 5,368 $ 3,436 $ 3,984 $ 2,831 $ 4,482 $ 3,768 Capital Gain Distributions Received from Investment Securities................................ -- 2 3 7 -- -- Net Realized Gain (Loss) on: Investment Securities Sold.......................... 7,956 4,240 2,387 2,121 521 (454) Futures............................................. 175 -- -- -- -- -- Foreign Currency Transactions....................... -- -- -- -- (19) (33) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.......... 80,194 20,636 62,760 18,572 37,246 4,845 Translation of Foreign Currency Denominated Amounts............................................ -- -- -- -- 10 (7) -------- -------- -------- -------- -------- -------- Net Increase (Decrease) in Net Assets Resulting from Operations......................... 93,693 28,314 69,134 23,531 42,240 8,119 -------- -------- -------- -------- -------- -------- Distributions From: Net Investment Income................................. (5,251) (3,153) (3,999) (2,611) (4,537) (3,515) Net Long-Term Gains................................... (2,745) -- (913) -- -- (91) -------- -------- -------- -------- -------- -------- Total Distributions................................ (7,996) (3,153) (4,912) (2,611) (4,537) (3,606) -------- -------- -------- -------- -------- -------- Capital Share Transactions (1): Shares Issued......................................... 123,375 85,163 77,887 55,219 47,684 53,520 Shares Issued in Lieu of Cash Distributions........... 6,403 2,308 4,617 2,428 4,462 3,567 Shares Redeemed....................................... (73,184) (33,070) (44,244) (31,454) (28,302) (32,992) -------- -------- -------- -------- -------- -------- Net Increase (Decrease) from Capital Share Transactions...................................... 56,594 54,401 38,260 26,193 23,844 24,095 -------- -------- -------- -------- -------- -------- Total Increase (Decrease) in Net Assets............ 142,291 79,562 102,482 47,113 61,547 28,608 NET ASSETS Beginning of Year..................................... 268,734 189,172 195,179 148,066 145,055 116,447 -------- -------- -------- -------- -------- -------- End of Year........................................... $411,025 $268,734 $297,661 $195,179 $206,602 $145,055 ======== ======== ======== ======== ======== ======== (1) SHARES ISSUED AND REDEEMED: Shares Issued......................................... 11,348 9,558 5,990 5,110 5,427 7,215 Shares Issued in Lieu of Cash Distributions........... 642 266 370 229 511 494 Shares Redeemed....................................... (6,896) (3,697) (3,344) (2,877) (3,204) (4,409) -------- -------- -------- -------- -------- -------- Net Increase (Decrease) from Shares Issued and Redeemed...................................... 5,094 6,127 3,016 2,462 2,734 3,300 ======== ======== ======== ======== ======== ======== UNDISTRIBUTED NET INVESTMENT INCOME (DISTRIBUTIONS IN EXCESS OF NET INVESTMENT INCOME)..................................... $ 395 $ 521 $ 392 $ 534 $ 391 $ 572 See accompanying Notes to Financial Statements. 39 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (AMOUNTS IN THOUSANDS) INTERNATIONAL EMERGING MARKETS DFA INTERNATIONAL VALUE SOCIAL CORE SOCIAL EX TOBACCO PORTFOLIO EQUITY PORTFOLIO CORE EQUITY PORTFOLIO ---------------------- ---------------- ------------------- PERIOD YEAR YEAR NOV. 1, YEAR YEAR ENDED ENDED 2012(A) TO ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2013 2013 2012 -------- -------- ---------------- -------- --------- INCREASE (DECREASE) IN NET ASSETS Operations: Net Investment Income (Loss)........................... $ 1,846 $ 1,906 $ 2,048 $ 12,168 $ 7,421 Net Realized Gain (Loss) on: Investment Securities Sold........................... 1,032 (156) 469 183 17,087 Futures.............................................. -- -- 15 -- 899 Foreign Currency Transactions*....................... (1) (11) 2 (128) 139 Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency........... 13,831 (48) 18,511 32,111 (11,796) Translation of Foreign Currency Denominated Amounts............................................. 4 (6) 1 2 (2) ------- ------- -------- -------- --------- Net Increase (Decrease) in Net Assets Resulting from Operations.................................... 16,712 1,685 21,046 44,336 13,748 ------- ------- -------- -------- --------- Distributions From: Net Investment Income.................................. (2,014) (1,801) (1,606) (11,637) (6,452) Net Long-Term Gains.................................... -- -- -- (14,134) -- ------- ------- -------- -------- --------- Total Distributions................................. (2,014) (1,801) (1,606) (25,771) (6,452) ------- ------- -------- -------- --------- Capital Share Transactions (1): Shares Issued.......................................... 1,884 4,480 146,054 305,618 247,124 Shares Issued in Lieu of Cash Distributions............ 2,014 1,801 1,408 23,993 5,995 Shares Redeemed........................................ -- -- (18,046) (41,300) (238,669) ------- ------- -------- -------- --------- Net Increase (Decrease) from Capital Share Transactions....................................... 3,898 6,281 129,416 288,311 14,450 ------- ------- -------- -------- --------- Total Increase (Decrease) in Net Assets............. 18,596 6,165 148,856 306,876 21,746 NET ASSETS Beginning of Period.................................... 59,092 52,927 -- 457,311 435,565 ------- ------- -------- -------- --------- End of Period.......................................... $77,688 $59,092 $148,856 $764,187 $ 457,311 ======= ======= ======== ======== ========= (1) SHARES ISSUED AND REDEEMED: Shares Issued.......................................... 228 598 13,564 24,079 20,152 Shares Issued in Lieu of Cash Distributions............ 236 251 129 1,904 513 Shares Redeemed........................................ -- -- (1,589) (3,274) (19,550) ------- ------- -------- -------- --------- Net Increase (Decrease) from Shares Issued and Redeemed........................................... 464 849 12,104 22,709 1,115 ======= ======= ======== ======== ========= UNDISTRIBUTED NET INVESTMENT INCOME (DISTRIBUTIONS IN EXCESS OF NET INVESTMENT INCOME)..................... $ 148 $ 304 $ 383 $ 1,776 $ 1,303 ---------- See page 1 for the Definitions of Abbreviations and Footnotes. * Net of foreign capital gain taxes withheld of $0, $0, $0, $0, $3 and $22, respectively. See accompanying Notes to Financial Statements. 40 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) U.S. SOCIAL CORE EQUITY 2 PORTFOLIO ----------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 -------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year............................................ $ 9.31 $ 8.32 $ 7.83 $ 6.57 $ 6.12 -------- -------- -------- -------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)............................................ 0.18 0.14 0.11 0.10 0.10 Net Gains (Losses) on Securities (Realized and Unrealized).................. 2.87 0.98 0.48 1.25 0.46 -------- -------- -------- -------- ------- Total from Investment Operations........................................... 3.05 1.12 0.59 1.35 0.56 -------------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income....................................................... (0.17) (0.13) (0.10) (0.09) (0.11) Net Realized Gains.......................................................... (0.09) -- -- -- -- -------- -------- -------- -------- ------- Total Distributions........................................................ (0.26) (0.13) (0.10) (0.09) (0.11) -------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year.................................................. $ 12.10 $ 9.31 $ 8.32 $ 7.83 $ 6.57 ============================================================================== ======== ======== ======== ======== ======== Total Return.................................................................. 33.47% 13.63% 7.57% 20.75% 9.49% -------------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)........................................... $411,025 $268,734 $189,172 $120,881 $76,815 Ratio of Expenses to Average Net Assets....................................... 0.30% 0.33% 0.35% 0.33% 0.41% Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly). 0.30% 0.33% 0.35% 0.33% 0.41% Ratio of Net Investment Income to Average Net Assets.......................... 1.64% 1.60% 1.28% 1.32% 1.62% Portfolio Turnover Rate....................................................... 12% 13% 12% 13% 8% -------------------------------------------------------------------------------------------------------------------------------- U.S. SUSTAINABILITY CORE 1 PORTFOLIO ----------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 ------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year............................................ $ 11.43 $ 10.13 $ 9.57 $ 8.15 $ 7.39 -------- -------- -------- -------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)............................................ 0.21 0.18 0.14 0.13 0.14 Net Gains (Losses) on Securities (Realized and Unrealized).................. 3.44 1.29 0.56 1.42 0.77 -------- -------- -------- -------- ------- Total from Investment Operations........................................... 3.65 1.47 0.70 1.55 0.91 ------------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income....................................................... (0.22) (0.17) (0.14) (0.13) (0.15) Net Realized Gains.......................................................... (0.05) -- -- -- -- -------- -------- -------- -------- ------- Total Distributions........................................................ (0.27) (0.17) (0.14) (0.13) (0.15) ------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year.................................................. $ 14.81 $ 11.43 $ 10.13 $ 9.57 $ 8.15 ============================================================================== ======== ======== ======== ======== ======== Total Return.................................................................. 32.40% 14.60% 7.31% 19.15% 12.69% ------------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)........................................... $297,661 $195,179 $148,066 $127,397 $85,299 Ratio of Expenses to Average Net Assets....................................... 0.33% 0.37% 0.37% 0.37% 0.37% Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly). 0.33% 0.35% 0.35% 0.37% 0.47% Ratio of Net Investment Income to Average Net Assets.......................... 1.61% 1.63% 1.39% 1.46% 1.97% Portfolio Turnover Rate....................................................... 2% 9% 14% 6% 18% ------------------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 41 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO ------------------------------------------------ YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 ------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year.................................... $ 7.89 $ 7.73 $ 8.39 $ 7.70 $ 6.00 -------- -------- -------- -------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)..................................... 0.23 0.23 0.23 0.17 0.16 Net Gains (Losses) on Securities (Realized and Unrealized)........... 1.90 0.15 (0.66) 0.68 1.70 -------- -------- -------- -------- ------- Total from Investment Operations................................... 2.13 0.38 (0.43) 0.85 1.86 ------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income................................................ (0.23) (0.21) (0.23) (0.16) (0.16) Net Realized Gains................................................... -- (0.01) -- -- -- -------- -------- -------- -------- ------- Total Distributions................................................ (0.23) (0.22) (0.23) (0.16) (0.16) ------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year.......................................... $ 9.79 $ 7.89 $ 7.73 $ 8.39 $ 7.70 ===================================================================== ======== ======== ======== ======== ======== Total Return.......................................................... 27.38% 5.18% (5.41)% 11.29% 31.56% ------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)................................... $206,602 $145,055 $116,447 $106,545 $74,124 Ratio of Expenses to Average Net Assets............................... 0.52% 0.57% 0.57% 0.57% 0.57% Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly)................................................ 0.50% 0.56% 0.54% 0.55% 0.66% Ratio of Net Investment Income to Average Net Assets.................. 2.57% 2.96% 2.66% 2.15% 2.57% Portfolio Turnover Rate............................................... 2% 11% 13% 7% 7% ------------------------------------------------------------------------------------------------------------------------- DFA INTERNATIONAL VALUE EX TOBACCO PORTFOLIO -------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 -------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year.................................... $ 7.82 $ 7.89 $ 8.87 $ 8.22 $ 6.33 ------- ------- ------- ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)..................................... 0.24 0.26 0.27 0.19 0.20 Net Gains (Losses) on Securities (Realized and Unrealized)........... 1.89 (0.08) (0.99) 0.64 1.90 ------- ------- ------- ------- ------- Total from Investment Operations................................... 2.13 0.18 (0.72) 0.83 2.10 -------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income................................................ (0.26) (0.25) (0.26) (0.18) (0.21) Net Realized Gains................................................... -- -- -- -- -- ------- ------- ------- ------- ------- Total Distributions................................................ (0.26) (0.25) (0.26) (0.18) (0.21) -------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year.......................................... $ 9.69 $ 7.82 $ 7.89 $ 8.87 $ 8.22 ===================================================================== ======== ======== ======== ======== ======== Total Return.......................................................... 27.77% 2.61% (8.37)% 10.49% 33.74% -------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)................................... $77,688 $59,092 $52,927 $64,645 $49,627 Ratio of Expenses to Average Net Assets............................... 0.60% 0.60% 0.60% 0.60% 0.60% Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly)................................................ 0.56% 0.62% 0.61% 0.62% 0.70% Ratio of Net Investment Income to Average Net Assets.................. 2.75% 3.43% 2.99% 2.30% 2.98% Portfolio Turnover Rate............................................... 16% 16% 21% 23% 32% -------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 42 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD) INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO ------------------------- PERIOD NOV. 1, 2012(A) TO OCT. 31, 2013 ------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period.................................. $ 10.00 -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)..................................... 0.27 Net Gains (Losses) on Securities (Realized and Unrealized)........... 2.27 -------- Total from Investment Operations................................... 2.54 ------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income................................................ (0.24) Net Realized Gains................................................... -- -------- Total Distributions................................................ (0.24) ------------------------------------------------------------------------------------------------- Net Asset Value, End of Period........................................ $ 12.30 ===================================================================== ========================= Total Return.......................................................... 25.81%(C) ------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)................................. $148,856 Ratio of Expenses to Average Net Assets............................... 0.60%(B)(D) Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly)................................................ 0.68%(B)(D) Ratio of Net Investment Income to Average Net Assets.................. 2.44%(B)(D) Portfolio Turnover Rate............................................... 14%(C) ------------------------------------------------------------------------------------------------- EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO ------------------------------------------------- YEAR YEAR YEAR YEAR YEAR ENDED ENDED ENDED ENDED ENDED OCT. 31, OCT. 31, OCT. 31, OCT. 31, OCT. 31, 2013 2012 2011 2010 2009 ------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period.................................. $ 12.55 $ 12.33 $ 14.80 $ 11.51 $ 6.92 -------- -------- -------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)..................................... 0.24 0.24 0.28 0.20 0.18 Net Gains (Losses) on Securities (Realized and Unrealized)........... 0.72 0.17 (1.85) 3.29 4.59 -------- -------- -------- -------- -------- Total from Investment Operations................................... 0.96 0.41 (1.57) 3.49 4.77 ------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income................................................ (0.23) (0.19) (0.30) (0.20) (0.18) Net Realized Gains................................................... (0.36) -- (0.60) -- -- -------- -------- -------- -------- -------- Total Distributions................................................ (0.59) (0.19) (0.90) (0.20) (0.18) ------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Period........................................ $ 12.92 $ 12.55 $ 12.33 $ 14.80 $ 11.51 ===================================================================== ======== ======== ======== ======== ======== Total Return.......................................................... 7.74% 3.41% (11.29)% 30.63% 69.84% ------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)................................. $764,187 $457,311 $435,565 $615,735 $460,705 Ratio of Expenses to Average Net Assets............................... 0.66% 0.75% 0.70% 0.67% 0.70% Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly)................................................ 0.66% 0.75% 0.71% 0.67% 0.70% Ratio of Net Investment Income to Average Net Assets.................. 1.94% 1.92% 1.99% 1.57% 2.10% Portfolio Turnover Rate............................................... 2% 44% 28% 14% 4% ------------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 43 DFA INVESTMENT DIMENSIONS GROUP INC. NOTES TO FINANCIAL STATEMENTS A. ORGANIZATION: DFA Investment Dimensions Group Inc. (the "Fund") is an open-end management investment company whose shares are offered, without a sales charge, generally to institutional investors and clients of registered investment advisors. The Fund offers seventy-six operational portfolios, six of which, U.S. Social Core Equity 2 Portfolio, U.S. Sustainability Core 1 Portfolio, International Sustainability Core 1 Portfolio, DFA International Value ex Tobacco Portfolio, International Social Core Equity Portfolio and Emerging Markets Social Core Equity Portfolio (the "Portfolios"), are included in this report. The remaining seventy portfolios are presented in separate reports. B. SIGNIFICANT ACCOUNTING POLICIES: The following significant accounting policies are in conformity with accounting principles generally accepted in the United States of America. Such policies are consistently followed by the Fund in preparation of its financial statements. The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the fair value of investments, the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates and those differences could be material. 1. SECURITY VALUATION: The Portfolios utilize a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels described below: . Level 1 - inputs are quoted prices in active markets for identical securities (including equity securities, open-end investment companies, futures contracts) . Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) . Level 3 - significant unobservable inputs (including the Portfolios' own assumptions in determining the fair value of investments) Securities held by U.S. Social Core Equity 2 Portfolio and U.S. Sustainability Core 1 Portfolio (the "Domestic Equity Portfolios") and International Sustainability Core 1 Portfolio, DFA International Value ex Tobacco Portfolio, International Social Core Equity Portfolio and Emerging Markets Social Core Equity Portfolio (the "International Equity Portfolios"), including over-the-counter securities, are valued at the last quoted sale price at the close of the exchanges on which they are principally traded (official closing price). International equity securities are subject to a fair value factor, as described later in this note. Securities held by the Domestic Equity Portfolios and the International Equity Portfolios that are listed on Nasdaq are valued at the Nasdaq Official Closing Price ("NOCP"). If there is no last reported sale price or NOCP for the day, the Domestic Equity Portfolios and the International Equity Portfolios value the securities at the mean of the most recent quoted bid and asked prices which approximate fair value. Price information on listed securities is taken from the exchange where the security is primarily traded. Generally, securities issued by open-end investment companies are valued using their respective net asset values or public offering prices, as appropriate, for purchase orders placed at the close of the New York Stock Exchange (NYSE). These securities are generally categorized as Level 1 in the hierarchy. Securities for which no market quotations are readily available (including restricted securities), or for which market quotations have become unreliable, are valued in good faith at fair value in accordance with procedures adopted by the Board. Fair value pricing may also be used if events that have a significant effect on the value of an investment (as determined in the discretion of the Investment Committee of Dimensional Fund Advisors LP) occur before the net asset value is calculated. When fair value pricing is used, the prices of securities used by the Portfolios may differ from the quoted or published prices for the same securities on their primary markets or exchanges. These securities are generally categorized as Level 2 in the hierarchy. 44 The International Equity Portfolios will also apply a fair value price in the circumstances described below. Generally, trading in foreign securities markets is completed each day at various times prior to the close of the NYSE. For example, trading in the Japanese securities markets is completed each day at the close of the Tokyo Stock Exchange (normally, 11:00 p.m. PT), which is fourteen hours prior to the close of the NYSE (normally, 1:00 p.m. PT) and the time that the net asset values of the International Equity Portfolios are computed. Due to the time differences between the closings of the relevant foreign securities exchanges and the time the International Equity Portfolios price their shares at the close of the NYSE, the International Equity Portfolios will fair value their foreign investments when it is determined that the market quotations for the foreign investments are either unreliable or not readily available. The fair value prices will attempt to reflect the impact of the U.S. financial markets' perceptions and trading activities on the International Equity Portfolios' foreign investments since the last closing prices of the foreign investments were calculated on their primary foreign securities markets or exchanges. For these purposes, the Board of the International Equity Portfolios have determined that movements in relevant indices or other appropriate market indicators, after the close of the Tokyo Stock Exchange or the London Stock Exchange, demonstrate that market quotations may be unreliable. Fair valuation of portfolio securities may occur on a daily basis. The fair value pricing by the International Equity Portfolios utilizes data furnished by an independent pricing service (and that data draws upon, among other information, the market values of foreign investments). When an International Equity Portfolio uses fair value pricing, the values assigned to the International Equity Portfolio's foreign investments may not be the quoted or published prices of the investments on their primary markets or exchanges. These securities are generally categorized as Level 2 in the hierarchy. Futures contracts held by the Portfolios are valued using the settlement price established each day on the exchange on which they are traded. These valuations are generally categorized as Level 1 in the hierarchy. A summary of the inputs used to value the Portfolios' investments by each major security type, industry and/or country is disclosed previously in this note. Valuation hierarchy tables have been included at the end of the Summary Schedules of Portfolio Holdings. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment's valuation changes. The Portfolios recognize transfers between the levels as of the end of the period. As of October 31, 2013, the Emerging Markets Social Core Equity Portfolio had significant transfers of securities with a total value of $35,299 (in thousands) that transferred from Level 1 to Level 2. At October 31, 2013, the fair market value of certain securities were adjusted due to developments which occurred between the time of the close of the foreign markets on which they trade and the close of business on the NYSE which resulted in their Level 2 classification. 2. FOREIGN CURRENCY TRANSLATION: Securities and other assets and liabilities of the International Equity Portfolios whose values are initially expressed in foreign currencies are translated to U.S. dollars using the mean between the most recent bid and asked prices for the U.S. dollar as quoted by generally recognized reliable sources. Dividend and interest income and certain expenses are translated to U.S. dollars at the rate of exchange on their respective accrual dates. Receivables and payables denominated in foreign currencies are marked-to-market daily based on daily exchange rates and exchange gains or losses are realized upon ultimate receipt or disbursement. The International Equity Portfolios do not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of securities whether realized or unrealized. Realized gains or losses on foreign currency transactions represent net foreign exchange gains or losses from the disposition of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between amounts of interest, dividends and any foreign withholding taxes recorded on the books of the International Equity Portfolios and the U.S. dollar equivalent amounts actually received or paid. 3. DEFERRED COMPENSATION PLAN: Each eligible Director/Trustee of the Fund may elect participation in The Fee Deferral Plan for Independent Directors and Trustees (the "Plan"). Under the Plan, effective January 1, 2002, such Directors/Trustees may defer payment of all or a portion of their total fees earned as a Director/Trustee. 45 These deferred amounts may be treated as though such amounts had been invested in shares of the following funds: U.S. Large Cap Value Portfolio; U.S. Core Equity 1 Portfolio; U.S. Core Equity 2 Portfolio; U.S. Vector Equity Portfolio; U.S. Micro Cap Portfolio; DFA International Value Portfolio; International Core Equity Portfolio; Emerging Markets Portfolio; Emerging Markets Core Equity Portfolio; and/or DFA Two-Year Global Fixed Income Portfolio. Contributions made under the Plan and the change in unrealized appreciation (depreciation) and income are included in Directors'/Trustees' Fees & Expenses. Each Director/Trustee has the option to receive their distribution of proceeds in one of the following methods: lump sum; annual installments over a period of agreed upon years; or quarterly installments over a period of agreed upon years. Each Director/Trustee shall have the right in a notice of election (the "Notice") to defer the receipt of the Director's/Trustee's deferred compensation until a date specified by such Director/Trustee in the Notice, which date may not be sooner than the earlier of: (i) the first business day of January following the year in which such Director/Trustee ceases to be a member of the Board; and (ii) five years following the effective date of the Director's/Trustee's first deferral election. If a Director/Trustee who elects to defer fees fails to designate in the Notice a time or date as of which payment of the Director's/Trustee's deferred fee account shall commence, payment of such amount shall commence as of the first business day of January following the year in which the Director/Trustee ceases to be a member of the Board (unless the Director/Trustee files an amended Notice selecting a different distribution date). As of October 31, 2013, none of the Directors/Trustees have requested or received a distribution of proceeds of a deferred fee account. 4. OTHER: Security transactions are accounted for as of the trade date. Costs used in determining realized gains and losses on the sale of investment securities and foreign currency are on the basis of identified cost. Dividend income and distributions to shareholders are recorded on the ex-dividend date. Distributions received on securities that represent a return of capital or capital gains are recorded as a reduction of cost of investments or as a realized gain, respectively. The Portfolios estimate the character of distributions received that may be considered return of capital distributions. Interest income is recorded on an accrual basis. Expenses directly attributable to a Portfolio are directly charged. Common expenses of the Fund or Portfolios are allocated using methods approved by the Board, generally based on average net assets. The International Equity Portfolios may be subject to taxes imposed by countries in which they invest, with respect to their investments in issuers existing or operating in such countries. Such taxes are generally based on income earned or repatriated and capital gains realized on the sale of such investments. The International Equity Portfolios accrue such taxes when the related income or capital gains are earned or throughout the holding period. Some countries require governmental approval for the repatriation of investment income, capital or the proceeds of sales earned by foreign investors. In addition, if there is a deterioration in a country's balance of payments or for other reasons, a country may impose temporary restrictions on foreign capital remittances abroad. Emerging Markets Social Core Equity Portfolio is subject to a 15% tax on short-term capital gains for investments in India. Such taxes are due upon sale of individual securities. The capital gains taxes are recognized when the capital gains are earned. C. INVESTMENT ADVISOR: The Advisor, Dimensional Fund Advisors LP, provides investment advisory services to the Portfolios. For the year ended October 31, 2013, the Portfolios' investment advisory services fees were accrued daily and paid monthly to the Advisor based on the following effective annual rates of average daily net assets: U.S. Social Core Equity 2 Portfolio........... 0.25% U.S. Sustainability Core 1 Portfolio.......... 0.29% International Sustainability Core 1 Portfolio. 0.42% DFA International Value ex Tobacco Portfolio.. 0.45% International Social Core Equity Portfolio.... 0.37% Emerging Markets Social Core Equity Portfolio. 0.55% 46 Pursuant to an Amended Fee Waiver and/or Expense Assumption Agreement, the Advisor has contractually agreed to waive all or a portion of its advisory fees, and in certain instances, assume certain expenses of the Portfolios, as described in the notes below. The Amended Fee Waiver and/or Expense Assumption Agreement for the Portfolios below will remain in effect through February 28, 2014, and shall continue in effect from year to year thereafter unless terminated by the Fund or the Advisor. For the year ended October 31, 2013, the Portfolios had expense limits based on a percentage of average net assets on an annualized basis, and previously waived fees subject to future recovery by the Advisor as reflected below (amounts in thousands). The Advisor recovered previously waived fees and/or expenses assumed as listed below (amounts in thousands). The Fund, on behalf of the Portfolios, is not obligated to reimburse the Advisor for fees previously waived or expenses previously assumed by the Advisor more than thirty-six months before the date of recovery. PREVIOUSLY RECOVERY WAIVED FEES/ OF PREVIOUSLY EXPENSES EXPENSE WAIVED FEES/ ASSUMED LIMITATION EXPENSES SUBJECT TO FUTURE AMOUNT ASSUMED RECOVERY ---------- ------------- ----------------- U.S. Social Core Equity 2 Portfolio (1)........... 0.60% -- -- U.S. Sustainability Core 1 Portfolio (2).......... 0.37% $ 7 -- International Sustainability Core 1 Portfolio (2). 0.57% 46 -- DFA International Value ex Tobacco Portfolio (3).. 0.60% 32 $ 8 International Social Core Equity Portfolio (2).... 0.60% 22 67 Emerging Markets Social Core Equity Portfolio (2). 0.85% -- -- (1) The Advisor has contractually agreed to waive all or a portion of its advisory fee to the extent necessary to reduce the Portfolio's ordinary operating expenses (excluding expenses incurred through its investment in other investment companies and excluding any applicable 12b-1 fees) ("Portfolio Expenses") so that the Portfolio Expenses do not exceed the rate listed above as a percentage of the Portfolio's average net assets on an annualized basis (the "Expense Limitation Amount"). At any time that the Portfolio Expenses are less than the Expense Limitation Amount, the Advisor retains the right to recover any fees previously waived and/or expenses previously assumed to the extent that such recovery will not cause the Portfolio's annualized Portfolio Expenses to exceed the Expense Limitation Amount. (2) The Advisor has contractually agreed to waive all or a portion of its advisory fee and to assume the ordinary operating expenses of the Portfolio (excluding the expenses that the Portfolio incurs indirectly through its investment in other investment companies and excluding any applicable 12b-1 fees) ("Portfolio Expenses") to the extent necessary to limit the Portfolio Expenses of the Portfolio to the rate listed above as a percentage of the Portfolio's average net assets on an annualized basis (the "Expense Limitation Amount"). At any time that the Portfolio Expenses of the Portfolio are less than the Expense Limitation Amount, the Advisor retains the right to recover any fees previously waived and/or expenses previously assumed to the extent that such recovery will not cause the Portfolio's annualized Portfolio Expenses to exceed the Expense Limitation Amount. (3) The Advisor has contractually agreed to waive all or a portion of its advisory fee and to assume the Portfolio's expenses (including the expenses that the Portfolio bears as a shareholder of other funds managed by the Advisor but excluding the expenses that the Portfolio incurs indirectly through its investment in unaffiliated investment companies and excluding any applicable 12b-1 fees) ("Portfolio Expenses") to the extent necessary to limit the Portfolio Expenses to the rate listed above as a percentage of the Portfolio's average net assets on an annualized basis (the "Expense Limitation Amount"). At any time that the Portfolio Expenses are less than the Portfolio's Expense Limitation Amount, the Advisor retains the right to recover any fees previously waived and/or expenses previously assumed to the extent that such recovery will not cause the Portfolio's annualized Portfolio Expenses to exceed the Expense Limitation Amount. EARNED INCOME CREDIT: In addition, the Portfolios have entered into arrangements with their custodian whereby net interest earned on uninvested cash balances was used to reduce a portion of each Portfolio's custody expenses. Custody expense in 47 the accompanying financial statements is presented before reduction for credits. During the year ended October 31, 2013, expenses reduced were as follows (amounts in thousands): FEES PAID INDIRECTLY ---------- International Sustainability Core 1 Portfolio. $ 1 DFA International Value ex Tobacco Portfolio.. -- International Social Core Equity Portfolio.... 2 Emerging Markets Social Core Equity Portfolio. 7 FEES PAID TO OFFICERS AND DIRECTORS/TRUSTEES: Certain Officers and Directors/Trustees of the Advisor are also Officers and Directors/Trustees of the Fund; however, such Officers and Directors/Trustees (with the exception of the Chief Compliance Officer ("CCO")) receive no compensation from the Fund. For the year ended October 31, 2013, the total related amounts paid by the Fund to the CCO were $250 (in thousands). The total related amounts paid by each of the Portfolios are included in Other Expenses on the Statement of Operations. D. DEFERRED COMPENSATION: At October 31, 2013, the total liability for deferred compensation to Directors/Trustees is included in Accrued Expenses and Other Liabilities on the Statement of Assets and Liabilities as follows (amounts in thousands): U.S. Social Core Equity 2 Portfolio........... $ 4 U.S. Sustainability Core 1 Portfolio.......... 4 International Sustainability Core 1 Portfolio. 3 DFA International Value ex Tobacco Portfolio.. 2 International Social Core Equity Portfolio.... -- Emerging Markets Social Core Equity Portfolio. 17 E. PURCHASES AND SALES OF SECURITIES: For the year ended October 31, 2013, the Portfolios made the following purchases and sales of investment securities, other than short-term securities and U.S. government securities (amounts in thousands): PURCHASES SALES --------- ------- U.S. Social Core Equity 2 Portfolio........... $ 96,073 $40,168 U.S. Sustainability Core 1 Portfolio.......... 43,898 4,671 International Sustainability Core 1 Portfolio. 27,862 3,585 DFA International Value ex Tobacco Portfolio.. 14,705 10,692 International Social Core Equity Portfolio.... 141,214 11,798 Emerging Markets Social Core Equity Portfolio. 285,489 10,188 There were no purchases or sales of long-term U.S. government securities. F. FEDERAL INCOME TAXES: Each Portfolio has qualified and intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code for federal income tax purposes and to distribute substantially all of its taxable income and net capital gains to shareholders. Accordingly, no provision has been made for federal income taxes. Distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from those amounts determined under accounting principles generally accepted in the United States of America. These book/tax differences are either temporary or permanent in nature. To the extent these differences are permanent, they are charged or credited to paid-in capital, undistributed net investment income or accumulated net realized gains or losses, as appropriate, in the period that the differences arise. Accordingly, the following permanent differences as of October 31, 2012, primarily 48 attributable to net foreign currency gains/losses, foreign capital gains tax, tax equalization, non-deductible expenses, realized gains on securities considered to be "passive foreign investment companies", and the utilization of accumulated earnings and profits distributed to shareholders on redemptions of shares as part of the dividends paid deduction for income tax purposes, were reclassified to the following accounts. These reclassifications had no effect on net assets or net asset value per share (amounts in thousands): INCREASE INCREASE (DECREASE) (DECREASE) INCREASE UNDISTRIBUTED ACCUMULATED (DECREASE) NET INVESTMENT NET REALIZED PAID-IN CAPITAL INCOME GAINS (LOSSES) --------------- -------------- -------------- U.S. Social Core Equity 2 Portfolio........... $639 $(243) $(396) U.S. Sustainability Core 1 Portfolio.......... 206 (127) (79) International Sustainability Core 1 Portfolio. 110 (111) 1 DFA International Value Ex Tobacco Portfolio.. -- 12 (12) International Social Core Equity Portfolio.... 83 (59) (24) Emerging Markets Social Core Equity Portfolio. -- (58) 58 The tax character of dividends and distributions declared and paid during the years ended October 31, 2012 and October 31, 2013 were as follows (amounts in thousands): NET INVESTMENT INCOME AND SHORT-TERM LONG-TERM CAPITAL GAINS CAPITAL GAINS TOTAL -------------- ------------- ------- U.S. Social Core Equity 2 Portfolio 2012.......................................... $ 3,292 $ 115 $ 3,407 2013.......................................... 5,251 2,745 7,996 U.S. Sustainability Core 1 Portfolio 2012.......................................... 2,611 -- 2,611 2013.......................................... 3,999 913 4,912 International Sustainability Core 1 Portfolio 2012.......................................... 3,619 91 3,710 2013.......................................... 4,537 -- 4,537 DFA International Value Ex Tobacco Portfolio 2012.......................................... 1,801 -- 1,801 2013.......................................... 2,014 -- 2,014 International Social Core Equity Portfolio 2013.......................................... 1,606 -- 1,606 Emerging Markets Social Core Equity Portfolio 2012.......................................... 7,239 3,548 10,787 2013.......................................... 11,666 14,105 25,771 International Social Core Equity Portfolio commenced operations on November 1, 2012, and did not pay any distributions for the year ended October 31, 2012. At October 31, 2013, the following net investment income and short-term capital gains and long-term capital gains distributions designated for federal income tax purposes are due to the utilization of accumulated earnings and profits distributed to shareholders upon redemption of shares (amounts in thousands): NET INVESTMENT INCOME AND SHORT-TERM LONG-TERM CAPITAL GAINS CAPITAL GAINS TOTAL -------------- ------------- ----- U.S. Social Core Equity 2 Portfolio........... $280 $359 $639 U.S. Sustainability Core 1 Portfolio.......... 135 71 206 International Sustainability Core 1 Portfolio. 100 10 110 International Social Core Equity Portfolio.... 94 -- 94 49 At October 31, 2013, the components of distributable earnings (accumulated losses) were as follows (amounts in thousands): UNDISTRIBUTED TOTAL NET NET INVESTMENT DISTRIBUTABLE INCOME AND UNDISTRIBUTED UNREALIZED EARNINGS SHORT-TERM LONG-TERM APPRECIATION (ACCUMULATED CAPITAL GAINS CAPITAL GAINS (DEPRECIATION) LOSSES) -------------- ------------- -------------- ------------- U.S. Social Core Equity 2 Portfolio........... $ 942 $7,221 $113,914 $122,077 U.S. Sustainability Core 1 Portfolio.......... 596 2,127 100,557 103,280 International Sustainability Core 1 Portfolio. 578 453 38,304 39,336 DFA International Value Ex Tobacco Portfolio.. 174 376 6,352 6,902 International Social Core Equity Portfolio.... 961 9 18,387 19,357 Emerging Markets Social Core Equity Portfolio. 3,163 -- 79,552 82,715 For federal income tax purposes, the Fund measures its capital loss carryforwards annually at October 31, its fiscal year end. Capital loss carryforwards may be carried forward and applied against future capital gains. Under the Regulated Investment Company Modernization Act of 2010, capital losses incurred by these Portfolios after October 31, 2011 will not be subject to expiration and will retain their character as either short-term or long-term capital losses. In addition, such losses must be utilized prior to the losses incurred in the years preceding enactment. During the year ended October 31, 2013, the Portfolios utilized the following capital loss carryforwards to offset realized capital gains for federal income tax purposes (amounts in thousands): International Sustainability Core 1 Portfolio. $ 55 DFA International Value Ex Tobacco Portfolio.. 645 At October 31, 2013, the total cost and aggregate gross unrealized appreciation and (depreciation) of securities for federal income tax purposes were different from amounts reported for financial reporting purposes (amounts in thousands): NET UNREALIZED FEDERAL UNREALIZED UNREALIZED APPRECIATION TAX COST APPRECIATION DEPRECIATION (DEPRECIATION) -------- ------------ ------------ -------------- U.S. Social Core Equity 2 Portfolio........... $328,963 $120,284 $ (6,370) $113,914 U.S. Sustainability Core 1 Portfolio.......... 218,515 104,076 (3,519) 100,557 International Sustainability Core 1 Portfolio. 187,046 50,053 (11,755) 38,298 DFA International Value Ex Tobacco Portfolio.. 77,390 12,982 (6,631) 6,351 International Social Core Equity Portfolio.... 142,519 21,062 (2,676) 18,386 Emerging Markets Social Core Equity Portfolio. 734,209 141,058 (61,511) 79,547 The difference between book basis and tax-basis unrealized appreciation (depreciation) is primarily attributable to the tax deferral of losses on wash sales and investments in passive foreign investment companies. Accounting for Uncertainty in Income Taxes sets forth a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken on a tax return. Management has analyzed the Portfolios' tax positions and has concluded that no additional provision for income tax is required in any Portfolios' financial statements. The Portfolios are not aware of any tax positions for which it is more likely than not that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. Each of the Portfolios' federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service. G. FINANCIAL INSTRUMENTS: In accordance with the Portfolios' investment objectives and policies, the Portfolios may invest in certain financial instruments that have off-balance sheet risk in excess of the amounts recognized in the financial 50 statements and concentrations of credit and market risk. These instruments and their significant corresponding risks are described below: 1. REPURCHASE AGREEMENTS: The Portfolios may purchase certain U.S. Government securities subject to the counterparty's agreement to repurchase them at an agreed upon date and price. The counterparty will be required on a daily basis to maintain the value of the collateral subject to the agreement at not less than the repurchase price (including accrued interest). The agreements are conditioned upon the collateral being deposited under the Federal Reserve book-entry system with the Portfolios' custodian or a third party sub-custodian. In the event of default or bankruptcy by the other party to the agreement, retention of the collateral may be subject to legal proceedings. 2. FOREIGN MARKET RISKS: Investments in foreign markets may involve certain considerations and risks not typically associated with investments in the United States of America, including the possibility of future political and economic developments and the level of foreign governmental supervision and regulation of foreign securities markets. These markets are generally smaller, less liquid and more volatile than the major securities markets in the United States of America. Consequently, acquisition and disposition of international securities held by the Portfolios may be inhibited. DERIVATIVE FINANCIAL INSTRUMENTS: Summarized below are the specific types of derivative instruments used by the Portfolios. 3. FUTURES CONTRACTS: The Portfolios may enter into futures contracts to gain market exposure on uninvested cash pending investment in securities or to maintain liquidity to pay redemptions. Upon entering into a futures contract, a Portfolio deposits cash or pledges U.S. Government securities to a broker, equal to the minimum "initial margin" requirements of the exchange on which the contract is traded. Subsequent payments are received from or paid to the broker each day, based on the daily fluctuation in the market value of the contract. These receipts or payments are known as "variation margin" and are recorded daily by the Portfolio as unrealized gains or losses until the contracts are closed. When the contracts are closed, the Portfolio records a realized gain or loss, which is presented in the Statements of Operations as a net realized gain or loss on futures, equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. Risks may arise upon entering into futures contracts from potential imperfect price correlations between the futures contracts and the underlying securities, from the possibility of an illiquid secondary market for these instruments and from the possibility that a Portfolio could lose more than the initial margin requirements. The Portfolios entering into stock index futures are subject to equity price risk from those futures contracts. Counterparty credit risk related to exchange-traded futures is minimal because the exchange's clearinghouse, as counterparty to all exchange-traded futures, guarantees the futures against default. The following is a summary of the location and value of derivative instrument holdings on the Portfolios' Statements of Operations categorized by primary risk exposure for the year ended October 31, 2013 (amounts in thousands): EQUITY LOCATION ON THE STATEMENT OF OPERATIONS CONTRACTS --------------------------------------- --------- Net Realized Gain (Loss) on: U.S. Social Core Equity 2 Portfolio* Futures $175 International Social Core Equity Portfolio* Futures 15 * As of October 31, 2013, there were no futures contracts outstanding. During the year ended October 31, 2013 the Portfolios had limited activity in futures contracts. H. LINE OF CREDIT: The Fund, together with other Dimensional-advised portfolios, entered into a $250 million unsecured discretionary line of credit effective June 22, 2011 with The Bank of New York Mellon, which was terminated by The Bank of New York Mellon effective March 29, 2013. Prior to termination, each portfolio was permitted to borrow, subject to its investment limitations, up to a maximum of $250 million, as long as total borrowings under the 51 line of credit did not exceed $250 million in the aggregate. Borrowings under the line of credit were charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio was individually, and not jointly, liable for its particular advances under the line of credit. There was no commitment fee on the unused portion of the line of credit. The Fund, together with other Dimensional-advised portfolios, has entered into a $500 million unsecured discretionary line of credit effective March 4, 2013 with its domestic custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. There is no commitment fee on the unused portion of the line of credit. The agreement for the discretionary line of credit may be terminated by either party at any time. The line of credit is scheduled to expire on March 3, 2014. The Fund, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit effective January 11, 2013 with its international custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. There is no commitment fee on the unused portion of the line of credit. The agreement for the line of credit expires on January 10, 2014. For the year ended October 31, 2013, borrowings by the Portfolios under the lines of credit were as follows (amounts in thousands, except percentages and days): WEIGHTED WEIGHTED NUMBER OF INTEREST MAXIMUM AMOUNT AVERAGE AVERAGE DAYS EXPENSE BORROWED DURING INTEREST RATE LOAN BALANCE OUTSTANDING* INCURRED THE PERIOD ------------- ------------ ------------ -------- --------------- U.S. Social Core Equity 2 Portfolio........... 0.88% $1,875 22 $ 1 $3,644 U.S. Sustainability Core 1 Portfolio.......... 0.93% 762 5 -- 971 International Sustainability Core 1 Portfolio. 0.87% 221 18 -- 700 DFA International Value ex Tobacco Portfolio.. 0.90% 13 21 -- 65 International Social Core Equity Portfolio.... 0.87% 1,678 32 1 5,768 Emerging Markets Social Core Equity Portfolio. 0.88% 1,266 5 -- 2,832 * Number of Days Outstanding represents the total of single or consecutive days during the year ended October 31, 2013, that each Portfolio's available line of credit was utilized. There were no outstanding borrowings by the Portfolios under the lines of credit as of October 31, 2013. I. SECURITIES LENDING: As of October 31, 2013, the Portfolios had securities on loan to brokers/dealers, for which each such Portfolio received cash collateral. In addition, the following Portfolios received non-cash collateral consisting of short term and/or long term U.S. Treasury securities (amounts in thousands): MARKET VALUE ------ International Sustainability Core 1 Portfolio. $ 807 DFA International Value ex Tobacco Portfolio.. 720 International Social Core Equity Portfolio.... 574 Emerging Markets Social Core Equity Portfolio. 9,611 The Portfolios invest the cash collateral, as described below, and record a liability for the return of the collateral, during the period the securities are on loan. Loans of securities are expected at all times to be secured by collateral equal to at least (i) 100% of the current market value of the loaned securities with respect to securities of the U.S. government or its agencies, (ii) 102% of the current market value of the loaned securities with respect to U.S. securities, and (iii) 105% of the current market value of the loaned securities with respect to foreign securities. 52 However, daily market fluctuations could cause the Portfolios' collateral to be lower or higher than the expected thresholds. If this were to occur, the collateral would be adjusted the next business day to ensure adequate collateralization. In the event of default or bankruptcy by the other party to the agreement, realization and/or retention of the collateral may be subject to legal proceedings. If the borrower fails to return loaned securities, and cash collateral being maintained by the borrower is insufficient to cover the value of loaned securities and provided such collateral insufficiency is not the result of investment losses, the lending agent has agreed to pay the amount of the shortfall to the Portfolio or, at the option of the lending agent, to replace the securities. Subject to their stated investment policies, the Portfolios will generally invest the cash collateral received for the loaned securities in The DFA Short Term Investment Fund (the "Money Market Series"), an affiliated registered money market fund advised by the Advisor for which the Advisor receives a management fee of 0.05% of the average daily net assets of the Money Market Series. The Portfolios also may invest the cash collateral received for the loaned securities in securities of the U.S. government or its agencies, repurchase agreements collateralized by securities of the U.S. government or its agencies, and affiliated and unaffiliated registered and unregistered money market funds. For purposes of this paragraph, agencies include both agency debentures and agency mortgage-backed securities. In addition, the Portfolios will be able to terminate the loan at any time and will receive reasonable interest on the loan, as well as amounts equal to any dividends, interest or other distributions on the loaned securities. However, dividend income received from loaned securities may not be eligible to be taxed at qualified dividend income rates. J. INDEMNITEES; CONTRACTUAL OBLIGATIONS: Under the Fund's organizational documents, its officers and directors are indemnified against certain liabilities arising out of the performance of their duties to the Fund. In the normal course of business, the Fund enters into contracts that contain a variety of representations and warranties which provide general indemnification. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund and/or its affiliates that have not yet occurred. However, based on experience, the Fund expects the risk of loss to be remote. K. RECENTLY ISSUED ACCOUNTING STANDARDS: In January 2013, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") No. 2013-01 "Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities" ("ASU 2013-01") which amended Accounting Standards Codification Subtopic 210-20, Balance Sheet Offsetting. ASU 2013-01 clarified the scope of ASU No. 2011-11 "Disclosures about Offsetting Assets and Liabilities" ("ASU 2011-11"). ASU 2011-11 requires an entity to disclose information about offsetting and related arrangements to enable users of that entity's financial statements to understand the effect of those arrangements on its financial position. ASU 2013-01 clarifies the scope of ASU 2011-11 as applying to derivatives accounted for in accordance with Topic 815, Derivatives and Hedging, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are offset either in accordance with other requirements of GAAP or subject to an enforceable master netting arrangement or similar agreement. ASU No. 2011-11 is effective for annual periods beginning on or after January 1, 2013, and interim periods within those annual periods. Management is evaluating any impact ASU No. 2011-11 may have on the financial statements. 53 L. OTHER: At October 31, 2013, the following number of shareholders held the following approximate percentages of the stated fund outstanding shares. One or more of the shareholders may be omnibus accounts, which typically hold shares for the benefit of several other underlying investors. APPROXIMATE PERCENTAGE OF NUMBER OF OUTSTANDING SHAREHOLDERS SHARES ------------ ------------- U.S. Social Core Equity 2 Portfolio........... 5 70% U.S. Sustainability Core 1 Portfolio.......... 4 91% International Sustainability Core 1 Portfolio. 3 90% DFA International Value ex Tobacco Portfolio.. 3 96% International Social Core Equity Portfolio.... 7 70% Emerging Markets Social Core Equity Portfolio. 4 40% M. SUBSEQUENT EVENT EVALUATIONS: Management has evaluated the impact of all subsequent events on the Portfolios and has determined that there are no subsequent events requiring recognition or disclosure in the financial statements. 54 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM TO THE SHAREHOLDERS OF THE PORTFOLIOS, AS DEFINED, AND BOARD OF DIRECTORS OF DFA INVESTMENT DIMENSIONS GROUP INC.: In our opinion, the accompanying statements of assets and liabilities, including the summary schedules of portfolio holdings, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of U.S. Social Core Equity 2 Portfolio, U.S. Sustainability Core 1 Portfolio, International Sustainability Core 1 Portfolio, DFA International Value ex Tobacco Portfolio, International Social Core Equity Portfolio, and Emerging Markets Social Core Equity Portfolio (constituting portfolios within DFA Investment Dimensions Group Inc., hereafter referred to as the "Portfolios") at October 31, 2013, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period then ended and the financial highlights for each of the periods indicated, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as "financial statements") are the responsibility of the Portfolios' 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, 2013 by correspondence with the custodians, brokers, and the transfer agent of the investee fund, provide a reasonable basis for our opinion. PricewaterhouseCoopers LLP Philadelphia, Pennsylvania December 20, 2013 55 FUND MANAGEMENT (UNAUDITED) TRUSTEES/DIRECTORS Each Board of Trustees/Directors (each, the "Board" and collectively, the "Boards") of The DFA Investment Trust Company ("DFAITC"), DFA Investment Dimensions Group Inc. ("DFAIDG"), Dimensional Investment Group Inc. ("DIG") and Dimensional Emerging Markets Value Fund ("DEM") (each, the "Fund" and collectively, the "Funds") is responsible for establishing the Funds' policies and for overseeing the management of the Funds. The Trustees/Directors of the Funds, including all of the disinterested Trustees/Directors, have adopted written procedures to monitor potential conflicts of interest that might develop between portfolios of the Funds (the "Feeder Portfolios") that invest in certain series of DFAITC or DEM (the "Master Funds"). Each Board has three standing committees, an Audit Committee, a Nominating Committee, and an Investment Review Committee (the "Review Committee"). The Audit Committee is comprised of George M. Constantinides, Roger G. Ibbotson and Abbie J. Smith. Each member of the Audit Committee is a disinterested Trustee/Director. The Audit Committee oversees the Fund's accounting and financial reporting policies and practices, the Fund's internal controls, the Fund's financial statements and the independent audits thereof and performs other oversight functions as requested by the Board. The Audit Committee recommends the appointment of each Fund's independent registered certified public accounting firm and also acts as a liaison between the Fund's independent registered certified public accounting firm and the full Board. There were two Audit Committee meetings held during the fiscal year ended October 31, 2013. Each Board's Nominating Committee is comprised of George M. Constantinides, John P. Gould, Roger G. Ibbotson, Myron S. Scholes, Edward P. Lazear and Abbie J. Smith. Each member of the Nominating Committee is a disinterested Trustee/Director. The Nominating Committee for each Board makes recommendations for nominations of disinterested and interested members on the Board to the full Board. The Nominating Committee evaluates a candidate's qualification for Board membership and the independence of such candidate from the Advisor and other principal service providers. There was one Nominating Committee meeting held during the fiscal year ended October 31, 2013. Each Board's Review Committee consists of both interested and disinterested Trustees/Directors. The Review Committee is comprised of John P. Gould, Edward P. Lazear, Myron S. Scholes and Eduardo A. Repetto. The Review Committee assists the Board in carrying out its fiduciary duties with respect to the oversight of the Fund and its performance. At the request of the Board or the Advisor, the Review Committee may (i) review the design of possible new series of the Fund, (ii) review performance of existing portfolios of the Fund and discuss and recommend possible enhancements to the portfolios' investment strategies, (iii) review proposals by the Advisor to modify or enhance the investment strategies or policies of each portfolio, and (iv) consider issues relating to investment services for each portfolio of the Fund. The Review Committee was formed on December 17, 2010, and there were two Review Committee meetings held during the fiscal year ended October 31, 2013. Certain biographical information for each disinterested Trustee/Director and each interested Trustee/Director of the Funds is set forth in the tables below, including a description of each Trustee/Director's experience as a Trustee/ Director of the Funds and as a director or trustee of other funds, as well as other recent professional experience. The statements of additional information (together, "SAI") of the Funds include additional information about each Trustee/Director. You may obtain copies of the SAI and prospectus of each Fund advised by Dimensional Fund Advisors LP by calling collect (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746. Prospectuses are also available at www.dimensional.com. 56 NAME, POSITION PORTFOLIOS WITHIN THE PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS WITH THE FUND, TERM OF OFFICE/1/ AND DFA FUND COMPLEX/2/ AND OTHER DIRECTORSHIPS OF PUBLIC COMPANIES ADDRESS AND YEAR OF BIRTH LENGTH OF SERVICE OVERSEEN HELD ------------------------------------------------------------------------------------------------------------------------------ DISINTERESTED TRUSTEES/DIRECTORS ------------------------------------------------------------------------------------------------------------------------------ George M. Constantinides Since Inception 106 portfolios in 4 Leo Melamed Professor of Finance, The University Director of DFAIDG and DIG. investment companies of Chicago Booth School of Business. Trustee of DFAITC and DEM. The University of Chicago Booth School of Business 5807 S. Woodlawn Avenue Chicago, IL 60637 1947 ------------------------------------------------------------------------------------------------------------------------------ John P. Gould Since Inception 106 portfolios in 4 Steven G. Rothmeier Distinguished Service Director of DFAIDG and DIG. investment companies Professor of Economics, The University of Trustee of DFAITC and DEM. Chicago Booth School of Business (since 1965). The University of Chicago Member and Chair, Competitive Markets Advisory Booth School of Business Committee, Chicago Mercantile Exchange (futures 5807 S. Woodlawn Avenue trading exchange) (since 2004). Formerly, Director Chicago, IL 60637 of UNext, Inc. (1999-2006). Trustee, Harbor Fund 1939 (registered investment company) (30 Portfolios) (since 1994). Formerly, Member of the Board of Milwaukee Mutual Insurance Company (1997-2010). ------------------------------------------------------------------------------------------------------------------------------ Roger G. Ibbotson Since Inception 106 portfolios in 4 Professor in Practice of Finance, Yale School of Director of DFAIDG and DIG. investment companies Management (since 1984). Chairman, CIO and Trustee of DFAITC and DEM. Partner, Zebra Capital Management, LLC (hedge Yale School of Management fund manager) (since 2001). Consultant to P.O. Box 208200 Morningstar, Inc. (since 2006). Formerly, New Haven, CT 06520-8200 Chairman, Ibbotson Associates, Inc., Chicago, IL 1943 (software data publishing and consulting) (1977-2006). Formerly, Director, BIRR Portfolio Analysis, Inc. (software products) (1990-2010). ------------------------------------------------------------------------------------------------------------------------------ Edward P. Lazear Since Inception 106 portfolios in 4 Morris Arnold Cox Senior Fellow, Hoover Director of DFAIDG and DIG. investment companies Institution (since 2002). Jack Steele Parker Trustee of DFAITC and DEM. Professor of Human Resources Management and Stanford University Economics, Graduate School of Business, Graduate School of Business Stanford University (since 1995). Cornerstone 518 Memorial Way Research (expert testimony and economic and Stanford, CA 94305-5015 financial analysis) (since 2009). Formerly, 1948 Chairman of the President George W. Bush's Council of Economic Advisers (2006-2009). Formerly, Council of Economic Advisors, State of California (2005-2006). Formerly, Commissioner, White House Panel on Tax Reform (2005). ------------------------------------------------------------------------------------------------------------------------------ Myron S. Scholes Since Inception 106 portfolios in 4 Frank E. Buck Professor Emeritus of Finance, Director of DFAIDG and DIG. investment companies Stanford University (since 1981). Formerly, Trustee of DFAITC and DEM. Chairman, Platinum Grove Asset Management, c/o Dimensional Fund L.P. (hedge fund) (formerly, Oak Hill Platinum Advisors, LP Partners) (1999-2009). Formerly, Managing 6300 Bee Cave Road Partner, Oak Hill Capital Management (private Building 1 equity firm) (until 2004). Director, American Austin, TX 78746 Century Fund Complex (registered investment 1941 companies) (40 Portfolios) (since 1980). Formerly, Director, Chicago Mercantile Exchange (2001-2008). ------------------------------------------------------------------------------------------------------------------------------ Abbie J. Smith Since Inception 106 portfolios in 4 Boris and Irene Stern Distinguished Service Director of DFAIDG and DIG. investment companies Professor of Accounting, The University of Trustee of DFAITC and DEM. Chicago Booth School of Business (since 1980). The University of Chicago Co-Director Investment Research, Fundamental Booth School of Business Investment Advisors (hedge fund) (since 2008). 5807 S. Woodlawn Avenue Director, HNI Corporation (formerly known as HON Chicago, IL 60637 Industries Inc.) (office furniture) (since 2000). 1953 Director, Ryder System Inc. (transportation, logistics and supply-chain management) (since 2003). Trustee, UBS Funds (4 investment companies within the fund complex) (52 portfolios) (since 2009). 57 NAME, POSITION PORTFOLIOS WITHIN THE PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS WITH THE FUND, TERM OF OFFICE/1/ AND DFA FUND COMPLEX/2/ AND OTHER DIRECTORSHIPS OF PUBLIC COMPANIES ADDRESS AND YEAR OF BIRTH LENGTH OF SERVICE OVERSEEN HELD -------------------------------------------------------------------------------------------------------------------------------- INTERESTED TRUSTEES/DIRECTORS* -------------------------------------------------------------------------------------------------------------------------------- David G. Booth Since Inception 106 portfolios in 4 Chairman, Director/Trustee, President, and Co- Chairman, Director, investment companies Chief Executive Officer (since January 2010) of Co-Chief Executive Officer Dimensional Holdings Inc., Dimensional Fund and President of DFAIDG Advisors LP, DFA Securities LLC, DEM, DFAIDG, and DIG. Chairman, DIG and DFAITC. Director of Dimensional Fund Trustee, Co-Chief Executive Advisors Ltd., Dimensional Funds PLC, Officer and President of Dimensional Funds II PLC, DFA Australia Limited, DFAITC and DEM. Dimensional Cayman Commodity Fund I Ltd., 6300 Bee Cave Road, Dimensional Japan Ltd. and Dimensional Advisors Building One Austin, Ltd. Chairman, Director and Co-Chief Executive Texas 78746 Officer of Dimensional Fund Advisors Canada 1946 ULC. President, Dimensional SmartNest (US) LLC. Limited Partner, Oak Hill Partners (since 2001) and VSC Investors, LLC (since 2007). Trustee, The University of Chicago. Trustee, University of Kansas Endowment Association. Formerly, Chief Executive Officer (until 2010) and Chief Investment Officer (2003-2007) of Dimensional Fund Advisors LP, DFA Securities LLC, DEM, DFAIDG, DIG , DFAITC, Dimensional Holdings Inc. Formerly, Chief Investment Officer of Dimensional Fund Advisors Ltd. Formerly, President and Chief Investment Officer of DFA Australia Limited. Formerly, Director, SA Funds (registered investment company). -------------------------------------------------------------------------------------------------------------------------------- Eduardo A. Repetto Since 2009 106 portfolios in 4 Co-Chief Executive Officer (since January 2010), Director, Co-Chief investment companies Chief Investment Officer (since March 2007) and Executive Officer and Chief Director/Trustee of Dimensional Holdings Inc., Investment Officer of Dimensional Fund Advisors LP, DFA Securities DFAIDG and DIG. Trustee, LLC, DEM, DFAIDG, DIG, DFAITC and Co-Chief Executive Officer Dimensional Cayman Commodity Fund I Ltd. and Chief Investment Officer Director, Co-Chief Executive Officer, President of DFAITC and DEM. and Chief Investment Officer of Dimensional Fund 6300 Bee Cave Road, Advisors Canada ULC. Chief Investment Officer, Building One Vice President and Director of DFA Australia Austin, TX 78746 Limited. Director of Dimensional Fund Advisors 1967 Ltd., Dimensional Funds PLC, Dimensional Funds II PLC, Dimensional Japan Ltd. and Dimensional Advisors Ltd., Formerly President of Dimensional Holdings Inc, Dimensional Fund Advisors LP, DFA Securities LLC, DEM, DFAIDG, DIG, DFAITC and Dimensional Fund Advisors Canada ULC. /1/ Each Trustee/Director holds office for an indefinite term until his or her successor is elected and qualified. /2/ Each Trustee/Director is a director or trustee of each of the four registered investment companies within the DFA Fund Complex, which includes the Funds. * Interested Trustees/Directors are described as such because they are deemed to be "interested persons," as that term is defined under the Investment Company Act of 1940, as amended, due to their positions with Dimensional Fund Advisors LP. 58 OFFICERS The name, year of birth, information regarding positions with the Funds and the principal occupation for each officer of the Funds are set forth below. Each officer listed below holds the same office (except as otherwise noted) in the following entities: Dimensional Fund Advisors LP (prior to November 3, 2006, Dimensional Fund Advisors Inc.) ("Dimensional"), Dimensional Holdings Inc., DFA Securities LLC (prior to April 6, 2009, DFA Securities Inc.), DFAIDG, DIG, DFAITC and DEM (collectively, the "DFA Entities"). The address of each officer is: Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, unless otherwise indicated. TERM OF OFFICE/1/ NAME, POSITION WITH THE FUND AND LENGTH OF AND YEAR OF BIRTH SERVICE PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS ------------------------------------------------------------------------------------------------------------------------- OFFICERS ------------------------------------------------------------------------------------------------------------------------- April A. Aandal Since 2008 Vice President of all the DFA Entities. Vice President 1963 ------------------------------------------------------------------------------------------------------------------------- Robyn G. Alcorta Since 2012 Vice President of all the DFA Entities. Formerly, Vice President Vice President Business Development at Capson Physicians Insurance Company 1974 (2010-2012); Vice President at Charles Schwab (2007-2010). ------------------------------------------------------------------------------------------------------------------------- Darryl D. Avery Since 2005 Vice President of all the DFA Entities. Vice President 1966 ------------------------------------------------------------------------------------------------------------------------- Arthur H. Barlow Since 1993 Vice President of all the DFA Entities. Director and Managing Vice President Director of DFAL (since September 2013). 1955 ------------------------------------------------------------------------------------------------------------------------- Scott A. Bosworth Since 2007 Vice President of all the DFA Entities. Vice President 1968 ------------------------------------------------------------------------------------------------------------------------- Valerie A. Brown Since 2001 Vice President and Assistant Secretary of all the DFA Entities, DFA Vice President and Assistant Australia Limited, Dimensional Fund Advisors Ltd., Dimensional Secretary Cayman Commodity Fund I Ltd., Dimensional Fund Advisors Pte. 1967 Ltd., Dimensional Hong Kong Limited. Director, Vice President and Assistant Secretary of Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------------- David P. Butler Since 2007 Vice President of all the DFA Entities. Head of Global Financial Vice President Services of Dimensional (since 2008). 1964 ------------------------------------------------------------------------------------------------------------------------- Douglas M. Byrkit Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (December 2010-January 2012); Regional Director 1970 at Russell Investments (April 2006-December 2010). ------------------------------------------------------------------------------------------------------------------------- James G. Charles Since 2011 Vice President of all the DFA Entities. Formerly, Regional Director for Vice President Dimensional (2008-2010); Vice President, Client Portfolio Manager at 1956 American Century Investments (2001-2008). ------------------------------------------------------------------------------------------------------------------------- Joseph H. Chi Since 2009 Vice President of all the DFA Entities. Co-Head of Portfolio Vice President Management of Dimensional (since March 2012). Sr. Portfolio 1966 Manager of Dimensional (since January 2012). Formerly, Portfolio Manager for Dimensional (October 2005-January 2012). ------------------------------------------------------------------------------------------------------------------------- Stephen A. Clark Since 2004 Vice President of all the DFA Entities, DFA Australia Limited and Vice President Dimensional Fund Advisors Canada ULC. Head of Institutional, 1972 North America (since March 2012). Formerly, Head of Portfolio Management of Dimensional (January 2006-March 2012). ------------------------------------------------------------------------------------------------------------------------- Matt B. Cobb Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since September 2011). Formerly, Vice President at 1971 MullinTBG 92005-2011). ------------------------------------------------------------------------------------------------------------------------- Ryan Cooper Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since 2003). 1979 ------------------------------------------------------------------------------------------------------------------------- Jeffrey D. Cornell Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (August 2002-January 2012). 1976 ------------------------------------------------------------------------------------------------------------------------- 59 TERM OF OFFICE/1/ NAME, POSITION WITH THE FUND AND LENGTH OF AND YEAR OF BIRTH SERVICE PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS ------------------------------------------------------------------------------------------------------------------------------- Robert P. Cornell Since 2007 Vice President of all the DFA Entities. Vice President 1949 ------------------------------------------------------------------------------------------------------------------------------- George H. Crane Since 2010 Vice President of all the DFA Entities. Formerly, Senior Vice Vice President President and Managing Director at State Street Bank & Trust 1955 Company (2007-2008). ------------------------------------------------------------------------------------------------------------------------------- Christopher S. Crossan Since 2004 Vice President and Global Chief Compliance Officer of all the DFA Vice President and Global Chief Entities, DFA Australia Limited, Dimensional Fund Advisors Ltd., Compliance Officer and Dimensional SmartNest (US) LLC. Chief Compliance Officer of 1965 Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------------------- James L. Davis Since 1999 Vice President of all the DFA Entities. Vice President 1956 ------------------------------------------------------------------------------------------------------------------------------- Robert T. Deere Since 1994 Vice President of all the DFA Entities, DFA Australia Limited and Vice President Dimensional Fund Advisors Canada ULC. 1957 ------------------------------------------------------------------------------------------------------------------------------- Peter F. Dillard Since 2010 Vice President of all the DFA Entities. Research Associate for Vice President Dimensional (since August 2008). 1972 ------------------------------------------------------------------------------------------------------------------------------- Robert W. Dintzner Since 2001 Vice President of all the DFA Entities. Vice President 1970 ------------------------------------------------------------------------------------------------------------------------------- Richard A. Eustice Since 1998 Vice President and Assistant Secretary of all the DFA Entities and Vice President and Assistant Secretary DFA Australia Limited. 1965 ------------------------------------------------------------------------------------------------------------------------------- Gretchen A. Flicker Since 2004 Vice President of all the DFA Entities. Vice President 1971 ------------------------------------------------------------------------------------------------------------------------------- Jed S. Fogdall Since 2008 Vice President of all the DFA Entities. Co-Head of Portfolio Vice President Management of Dimensional (since March 2012). Sr. Portfolio 1974 Manager of Dimensional (since January 2012). ------------------------------------------------------------------------------------------------------------------------------- Jeremy P. Freeman Since 2009 Vice President of all the DFA Entities. Senior Technology Manager Vice President for Dimensional (since June 2006). 1970 ------------------------------------------------------------------------------------------------------------------------------- Mark R. Gochnour Since 2007 Vice President of all the DFA Entities. Vice President 1967 ------------------------------------------------------------------------------------------------------------------------------- Tom M. Goodrum Since 2012 Vice President of all the DFA Entities. Formerly, Managing Director Vice President at BlackRock (2004-January 2012). 1968 ------------------------------------------------------------------------------------------------------------------------------- Henry F. Gray Since 2000 Vice President of all the DFA Entities. Vice President 1967 ------------------------------------------------------------------------------------------------------------------------------- John T. Gray Since 2007 Vice President of all the DFA Entities. Vice President 1974 ------------------------------------------------------------------------------------------------------------------------------- Christian Gunther Since 2011 Vice President of all the DFA Entities. Senior Trader for Vice President Dimensional (since 2012). Formerly, Senior Trader for Dimensional 1975 Fund Advisors Ltd. (2009-2012); Trader for Dimensional Fund Ltd. (2008-2009); Trader for Dimensional (2004-2008). ------------------------------------------------------------------------------------------------------------------------------- Joel H. Hefner Since 2007 Vice President of all the DFA Entities. Vice President 1967 ------------------------------------------------------------------------------------------------------------------------------- Julie C. Henderson Since 2005 Vice President and Fund Controller of all the DFA Entities, Vice President and Fund Controller Dimensional Cayman Commodity Fund I Ltd. and Dimensional 1974 Japan Ltd. ------------------------------------------------------------------------------------------------------------------------------- 60 TERM OF OFFICE/1/ NAME, POSITION WITH THE FUND AND LENGTH OF AND YEAR OF BIRTH SERVICE PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS ---------------------------------------------------------------------------------------------------------------------- Kevin B. Hight Since 2005 Vice President of all the DFA Entities. Vice President 1967 ---------------------------------------------------------------------------------------------------------------------- Christine W. Ho Since 2004 Vice President of all the DFA Entities. Vice President 1967 ---------------------------------------------------------------------------------------------------------------------- Michael C. Horvath Since 2011 Vice President of all the DFA Entities. Formerly, Managing Director, Vice President Co-Head Global Consultant Relations at BlackRock (2004-2011). 1960 ---------------------------------------------------------------------------------------------------------------------- William A. Irvine Since 2013 Vice President of all the DFA Entities, Regional Director For Vice President Dimensional (since 2012). Formerly, Vice President of Institutional 1957 Business Development at Eaton Vance (2005-2011). ---------------------------------------------------------------------------------------------------------------------- Jeff J. Jeon Since 2004 Vice President of all the DFA Entities and Dimensional Cayman Vice President Commodity Fund I Ltd. 1973 ---------------------------------------------------------------------------------------------------------------------- Stephen W. Jones Since 2012 Vice President of all the DFA Entities. Formerly, Facilities Manager Vice President for Dimensional (October 2008-January 2012). 1968 ---------------------------------------------------------------------------------------------------------------------- Patrick M. Keating Since 2003 Vice President and Chief Operating Officer of all the DFA Entities, Vice President Dimensional Cayman Commodity Fund I Ltd., Dimensional Japan 1954 Ltd., Dimensional Advisors Ltd., Dimensional Hong Kong Limited and Chief Operating Officer of Dimensional. Director, Vice President and Chief Privacy Officer of Dimensional Fund Advisors Canada ULC. Director of DFA Australia Limited, Dimensional Fund Advisors Ltd., Dimensional Japan Ltd. and Dimensional Advisors Ltd. Director and Vice President of Dimensional Hong Kong Limited and Dimensional Fund Advisors Pte. Ltd. ---------------------------------------------------------------------------------------------------------------------- Andrew K. Keiper Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since October 2004). 1977 ---------------------------------------------------------------------------------------------------------------------- Glenn E. Kemp Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional Fund Advisors LP (April 2006-January 2012). 1948 ---------------------------------------------------------------------------------------------------------------------- David M. Kershner Since 2010 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since June 2004). 1971 ---------------------------------------------------------------------------------------------------------------------- Timothy R. Kohn Since 2011 Vice President of all the DFA Entities. Head of Defined Contribution Vice President Sales for Dimensional (since August 2010). Formerly, Chief DC 1971 Strategist, Barclays Global Investors (2005-2009). ---------------------------------------------------------------------------------------------------------------------- Joseph F. Kolerich Since 2004 Vice President of all the DFA Entities. Sr. Portfolio Manager of Vice President Dimensional (since January 2012).Formerly, Portfolio Manager for 1971 Dimensional (April 2001-January 2012). ---------------------------------------------------------------------------------------------------------------------- Mark D. Krasniewski Since 2013 Vice President of all the DFA Entities. Formerly, Senior Associate Vice President Investment Analytics and Data for Dimensional (January 2012- 1981 December 2012); Systems Developer for Dimensional (June 2007- December 2011). ---------------------------------------------------------------------------------------------------------------------- Stephen W. Kurad Since 2011 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (2007-2010). 1968 ---------------------------------------------------------------------------------------------------------------------- Michael F. Lane Since 2004 Vice President of all the DFA Entities. Chief Executive Officer of Vice President Dimensional SmartNest (US) LLC (since 2012). 1967 ---------------------------------------------------------------------------------------------------------------------- Francis R. Lao Since 2011 Vice President of all the DFA Entities. Formerly, Vice President - Vice President Global Operations at Janus Capital Group (2005-2011). 1969 ---------------------------------------------------------------------------------------------------------------------- David F. LaRusso Since 2013 Vice President of all the DFA Entities. Formerly, Senior Trader for Vice President Dimensional (January 2010-December 2012); Trader for 1978 Dimensional (2000-2009). ---------------------------------------------------------------------------------------------------------------------- 61 TERM OF OFFICE/1/ NAME, POSITION WITH THE FUND AND LENGTH OF AND YEAR OF BIRTH SERVICE PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS --------------------------------------------------------------------------------------------------------------------------- Juliet H. Lee Since 2005 Vice President of all the DFA Entities. Vice President 1971 --------------------------------------------------------------------------------------------------------------------------- Marlena I. Lee Since 2011 Vice President of all the DFA Entities. Formerly, Research Vice President Associate for Dimensional (July 2008-2010). 1980 --------------------------------------------------------------------------------------------------------------------------- John B. Lessley Since 2013 Vice President of all the DFA Entities. Regional Director Vice President for Dimensional (since January 2008). 1960 --------------------------------------------------------------------------------------------------------------------------- Apollo D. Lupescu Since 2009 Vice President of all the DFA Entities. Regional Director Vice President for Dimensional (since February 2004). 1969 --------------------------------------------------------------------------------------------------------------------------- Kenneth M. Manell Since 2010 Vice President of all the DFA Entities and Dimensional Vice President Cayman Commodity Fund I Ltd. Counsel for Dimensional (since 1972 September 2006). --------------------------------------------------------------------------------------------------------------------------- Rose C. Manziano Since 2013 Vice President of all the DFA Entities. Regional Director Vice President for Dimensional (Since August 2010). Formerly, Vice 1971 President, Sales and Business Development at AdvisorsIG (PPMG) (2009- 2010); Vice President at Credit Suisse (2007-2009). --------------------------------------------------------------------------------------------------------------------------- Aaron M. Marcus Since 2008 Vice President of all the DFA Entities and Head of Global Vice President & Head of Global Human Resources of Dimensional. Human Resources 1970 --------------------------------------------------------------------------------------------------------------------------- David R. Martin Since 2007 Vice President, Chief Financial Officer and Treasurer of Vice President, Chief Financial Officer all the DFA Entities. Director, Vice President, Chief and Treasurer Financial Officer and Treasurer of Dimensional Fund 1956 Advisors Ltd., DFA Australia Limited, Dimensional Advisors Ltd., Dimensional Fund Advisors Pte. Ltd., Dimensional Hong Kong Limited and Dimensional Fund Advisors Canada ULC. Chief Financial Officer, Treasurer, and Vice President of Dimensional SmartNest (US) LLC, and Dimensional Cayman Commodity Fund I Ltd. Director of Dimensional Funds PLC and Dimensional Funds II PLC. Statutory Auditor of Dimensional Japan Ltd. --------------------------------------------------------------------------------------------------------------------------- Matthew H. Miller Since 2013 Vice President of all the DFA Entities. Client Service Vice President Manager for Dimensional (Since 2012). Formerly, Regional 1978 Director for Dimensional (2008-2011; Senior Associate at Dimensional (2007-2010). --------------------------------------------------------------------------------------------------------------------------- Jonathan G. Nelson Since 2013 Vice President of all the DFA Entities. Manager, Investment Vice President Systems at Dimensional (Since 2011). Formerly, Project 1971 Manager for Dimensional (2007-2010). --------------------------------------------------------------------------------------------------------------------------- Catherine L. Newell Vice President since Vice President and Secretary of all the DFA Entities. Vice President and Secretary 1997 and Secretary Director, Vice President and Secretary of DFA Australia 1964 since 2000 Limited and Dimensional Fund Advisors Ltd. (since February 2002, April 1997 and May 2002, respectively). Vice President and Secretary of Dimensional Fund Advisors Canada ULC (since June 2003), Dimensional SmartNest (US) LLC, Dimensional Cayman Commodity Fund I Ltd., Dimensional Japan Ltd. (since February 2012), Dimensional Advisors Ltd. (since March 2012), Dimensional Fund Advisors Pte. Ltd. (since June 2012) and Dimensional Hong Kong Limited (since August 2012). Director, Dimensional Funds PLC and Dimensional Funds II PLC (since 2002 and 2006, respectively). Director of Dimensional Japan Ltd., Dimensional Advisors Ltd., Dimensional Fund Advisors Pte. Ltd. and Dimensional Hong Kong Limited (since August 2012 and July 2012). --------------------------------------------------------------------------------------------------------------------------- Pamela B. Noble Since 2011 Vice President of all the DFA Entities. Portfolio Manager Vice President for Dimensional (2008-2010). 1964 --------------------------------------------------------------------------------------------------------------------------- Selwyn J. Notelovitz Since 2012 Vice President of all DFA Entities. Deputy Chief Compliance Vice President Officer of Dimensional (since December 2012). Formerly 1961 Chief Compliance Officer of Wellington Management Company, LLP (2004-2011). --------------------------------------------------------------------------------------------------------------------------- 62 TERM OF OFFICE/1/ NAME, POSITION WITH THE FUND AND LENGTH OF AND YEAR OF BIRTH SERVICE PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS ----------------------------------------------------------------------------------------------------------------------- Carolyn L. O Since 2010 Vice President of all the DFA Entities and Dimensional Cayman Vice President Commodity Fund I Ltd. Deputy General Counsel, Funds (since 1974 2011). Counsel for Dimensional (2007-2011). ----------------------------------------------------------------------------------------------------------------------- Gerard K. O'Reilly Since 2007 Vice President of all the DFA Entities. Vice President 1976 ----------------------------------------------------------------------------------------------------------------------- Daniel C. Ong Since 2009 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since July 2005). 1973 ----------------------------------------------------------------------------------------------------------------------- Kyle K. Ozaki Since 2010 Vice President of all the DFA Entities. Senior Compliance Officer for Vice President Dimensional (since January 2008). Formerly, Compliance Officer 1978 (February 2006-December 2007). ----------------------------------------------------------------------------------------------------------------------- Matthew A. Pawlak Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional Fund Advisors LP (since 2012). Formerly, Senior 1977 Consultant at Hewitt EnnisKnupp (June 2011-December 2011); Senior Investment Analyst and Consultant at Hewitt EnnisKnupp (July 2008-June 2011). ----------------------------------------------------------------------------------------------------------------------- Brian P. Pitre Since 2013 Vice President of all the DFA Entities. Counsel for Dimensional Vice President Fund Advisors LP (since 2009). Formerly, Vice President and 1976 Corporate Counsel at Mellon Capital Management (2006-2008). ----------------------------------------------------------------------------------------------------------------------- David A. Plecha Since 1993 Vice President of all the DFA Entities, DFA Australia Limited, Vice President Dimensional Fund Advisors Ltd. and Dimensional Fund Advisors 1961 Canada ULC. ----------------------------------------------------------------------------------------------------------------------- Allen Pu Since 2011 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since July 2006). 1970 ----------------------------------------------------------------------------------------------------------------------- Theodore W. Randall Since 2008 Vice President of all the DFA Entities. Formerly, Research Vice President Associate of Dimensional (2006-2008). 1973 ----------------------------------------------------------------------------------------------------------------------- Mark A. Regier Since 2013 Vice President of all the DFA Entities. Planning and Analysis Vice President Manager for Dimensional (since July 2007). 1969 ----------------------------------------------------------------------------------------------------------------------- Savina B. Rizova Since 2012 Vice President of all the DFA Entities. Formerly, Research Vice President Associate for Dimensional (June 2011-January 2012); Research 1981 Assistant for Dimensional (July 2004-August 2007). ----------------------------------------------------------------------------------------------------------------------- L. Jacobo Rodriguez Since 2005 Vice President of all the DFA Entities. Vice President 1971 ----------------------------------------------------------------------------------------------------------------------- Julie A. Saft Since 2010 Vice President of all the DFA Entities. Client Systems Manager for Vice President Dimensional (since July 2008). 1959 ----------------------------------------------------------------------------------------------------------------------- Walid A. Shinnawi Since 2010 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (March 2006-January 2010). 1961 ----------------------------------------------------------------------------------------------------------------------- Bruce A. Simmons Since 2009 Vice President of all the DFA Entities. Investment Operations Vice President Manager for Dimensional (since May 2007). 1965 ----------------------------------------------------------------------------------------------------------------------- Ted R. Simpson Since 2007 Vice President of all the DFA Entities. Vice President 1968 ----------------------------------------------------------------------------------------------------------------------- Bryce D. Skaff Since 2007 Vice President of all the DFA Entities. Vice President 1975 ----------------------------------------------------------------------------------------------------------------------- Andrew D. Smith Since 2011 Vice President of all the DFA Entities. Project Manager for Vice President Dimensional (2007-2010). 1968 ----------------------------------------------------------------------------------------------------------------------- 63 TERM OF OFFICE/1/ NAME, POSITION WITH THE FUND AND LENGTH OF AND YEAR OF BIRTH SERVICE PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS --------------------------------------------------------------------------------------------------------------------- Grady M. Smith Since 2004 Vice President of all the DFA Entities and Dimensional Fund Vice President Advisors Canada ULC. 1956 --------------------------------------------------------------------------------------------------------------------- Carl G. Snyder Since 2000 Vice President of all the DFA Entities. Vice President 1963 --------------------------------------------------------------------------------------------------------------------- Lawrence R. Spieth Since 2004 Vice President of all the DFA Entities. Vice President 1947 --------------------------------------------------------------------------------------------------------------------- Bradley G. Steiman Since 2004 Vice President of all the DFA Entities and Director and Vice Vice President President of Dimensional Fund Advisors Canada ULC. 1973 --------------------------------------------------------------------------------------------------------------------- Richard H. Tatlow Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since April 2010). Formerly, Principal, Investment 1971 Strategist at Barclays Global Investors (2004-2009). --------------------------------------------------------------------------------------------------------------------- Blake T. Tatsuta Since 2013 Vice President of all the DFA Entities, Manager, Investment Vice President Analytics and Data for Dimensional (since 2012). Formerly, 1973 Research Assistant at Dimensional (2002-2011). --------------------------------------------------------------------------------------------------------------------- Erik T. Totten Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since 2010). Formerly, Senior Associate at 1980 Dimensional (2007-2009). --------------------------------------------------------------------------------------------------------------------- John H. Totten Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (January 2008-January 2012). 1978 --------------------------------------------------------------------------------------------------------------------- Robert C. Trotter Since 2009 Vice President of all the DFA Entities. Senior Manager, Technology Vice President for Dimensional (since March 2007). 1958 --------------------------------------------------------------------------------------------------------------------- Karen E. Umland Since 1997 Vice President of all the DFA Entities, DFA Australia Limited, Vice President Dimensional Fund Advisors Ltd., and Dimensional Fund Advisors 1966 Canada ULC. --------------------------------------------------------------------------------------------------------------------- Brian J. Walsh Since 2009 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since 2004). 1970 --------------------------------------------------------------------------------------------------------------------- Weston J. Wellington Since 1997 Vice President of all the DFA Entities. Vice President 1951 --------------------------------------------------------------------------------------------------------------------- Ryan J. Wiley Since 2007 Vice President of all the DFA Entities. Vice President 1976 --------------------------------------------------------------------------------------------------------------------- Paul E. Wise Since 2005 Vice President of all the DFA Entities. Vice President 1955 --------------------------------------------------------------------------------------------------------------------- Joseph L. Young Since 2011 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (2005-2010). 1978 /1/ Each officer holds office for an indefinite term at the pleasure of the Boards of Trustees/Directors and until his or her successor is elected and qualified. 64 VOTING PROXIES ON FUND PORTFOLIO SECURITIES A description of the policies and procedures that the Fund uses in voting proxies relating to securities held in the portfolio is available without charge, upon request, by calling collect: (512) 306-7400. Information regarding how the Advisor votes these proxies is available from the EDGAR database on the SEC's website at http://www.sec.gov and from the Advisor's website at http://www.dimensional.com and reflects the twelve-month period beginning July 1st and ending June 30th. 65 NOTICE TO SHAREHOLDERS (UNAUDITED) For shareholders that do not have an October 31, 2013 tax year end, this notice is for informational purposes only. For shareholders with an October 31, 2013 tax year end, please consult your tax advisor as to the pertinence of this notice. For the fiscal year November 1, 2012 to October 31, 2013, each Portfolio is designating the following items with regard to distributions paid during the fiscal year. All designations are based on financial information available as of the date of this annual report and, accordingly are subject to change. For each item, it is the intention of the Portfolio to designate the maximum amount permitted under the Internal Revenue Code and the regulations thereunder. QUALIFYING FOR NET CORPORATE DFA INVESTMENT INVESTMENT SHORT-TERM LONG-TERM DIVIDENDS QUALIFYING FOREIGN FOREIGN DIMENSIONS GROUP INCOME CAPITAL GAIN CAPITAL GAIN TOTAL RECEIVED DIVIDEND TAX SOURCE INC. DISTRIBUTIONS DISTRIBUTIONS DISTRIBUTIONS DISTRIBUTIONS DEDUCTION (1) INCOME (2) CREDIT (3) INCOME (4) ---------------- ------------- ------------- ------------- ------------- ------------- ---------- ---------- ---------- U.S. Social Core Equity 2 Portfolio........... 64% -- 36% 100% 100% 100% -- -- U.S. Sustainability Core 1 Portfolio.... 81% -- 19% 100% 100% 100% -- -- International Sustainability Core 1 Portfolio......... 100% -- -- 100% 100% 100% 6% 100% DFA International Value ex Tobacco Portfolio........... 100% -- -- 100% 100% 100% 5% 100% International Social Core Equity Portfolio........... 99% 1% -- 100% 100% 100% 6% 100% Emerging Markets Social Core Equity Portfolio........... 45% -- 55% 100% 100% 100% 7% 100% QUALIFYING SHORT- DFA INVESTMENT QUALIFYING TERM DIMENSIONS GROUP INTEREST CAPITAL INC. INCOME (5) GAIN (6) ---------------- ---------- ---------- U.S. Social Core Equity 2 Portfolio........... 100% 100% U.S. Sustainability Core 1 Portfolio.... 100% 100% International Sustainability Core 1 Portfolio......... 100% 100% DFA International Value ex Tobacco Portfolio........... 100% 100% International Social Core Equity Portfolio........... 100% 100% Emerging Markets Social Core Equity Portfolio........... 100% 100% ---------- (1)Qualifying dividends represent dividends which qualify for the corporate dividends received deduction and is reflected as a percentage of ordinary income distributions (the total of short-term capital gain and net investment income distributions). (2)The percentage in this column represents the amount of "Qualifying Dividend Income" as created by the Jobs and Growth Tax Relief Reconciliation Act of 2003 and is reflected as a percentage of ordinary income distributions (the total of short-term capital gain and net investment income distributions). Please note that these percentages are designated only, refer to your 1099 for actual qualified dividend income. (3)"Foreign Tax Credit" represents dividends which qualify for the foreign tax credit pass through and is reflected as a percentage of investment company taxable income. (4)"Foreign Source Income" represents the portion of dividends derived from foreign sources, and is reflected as a percentage of investment company taxable income. (5)The percentage in this column represents the amount of "Qualifying Interest Income" as created by the American Jobs Creation Act of 2004. The information is reflected as a percentage of ordinary income distributions (the total of short-term capital gain and net investment income distributions). (6)The percentage in this column represents the amount of "Qualifying Short-Term Capital Gain" as created by The American Jobs Creation Act of 2004. The information is reflected as a percentage of ordinary income distributions (the total of short-term capital gain and net investment income distributions). 66 [LOGO] DFA103113-014A [LOGO] ANNUAL REPORT year ended: October 31, 2013 DFA Investment Dimensions Group Inc. Tax-Managed U.S. Marketwide Value Portfolio Tax-Managed U.S. Equity Portfolio Tax-Managed U.S. Targeted Value Portfolio Tax-Managed U.S. Small Cap Portfolio T.A. U.S. Core Equity 2 Portfolio Tax-Managed DFA International Value Portfolio T.A. World ex U.S. Core Equity Portfolio The DFA Investment Trust Company Tax-Managed U.S. Marketwide Value Series [LOGO] Dimensional Fund Advisors 6300 Bee Cave Road, Building One Austin, TX 78746 November 2013 Dear Fellow Shareholder, Our goal at Dimensional is to deliver an outstanding investment experience to our clients. Our close ties to academia help us identify leading research that can be beneficial to investors, and our team works to interpret, rigorously test, and consider the practical applicability of those ideas in carefully implemented investment strategies. This focus on research and implementation has been central to Dimensional's approach since our founding and will continue to be a key part of our offer to investors. Sincerely, /s/ David G. Booth Chairman and Co-Chief Executive Officer ANNUAL REPORT Table of Contents Page ---- Letter to Shareholders Definitions of Abbreviations and Footnotes............................ 1 DFA Investment Dimensions Group Inc. Performance Charts................................................. 2 Management's Discussion and Analysis............................... 6 Disclosure of Fund Expenses........................................ 11 Disclosure of Portfolio Holdings................................... 13 Schedule of Investments/Summary Schedules of Portfolio Holdings Tax-Managed U.S. Marketwide Value Portfolio.................... 15 Tax-Managed U.S. Equity Portfolio.............................. 16 Tax-Managed U.S. Targeted Value Portfolio...................... 19 Tax-Managed U.S. Small Cap Portfolio........................... 22 T.A. U.S. Core Equity 2 Portfolio.............................. 25 Tax-Managed DFA International Value Portfolio.................. 28 T.A. World ex U.S. Core Equity Portfolio....................... 32 Statements of Assets and Liabilities............................... 38 Statements of Operations........................................... 40 Statements of Changes in Net Assets................................ 42 Financial Highlights............................................... 44 Notes to Financial Statements...................................... 48 Report of Independent Registered Public Accounting Firm............ 60 The DFA Investment Trust Company - The Tax-Managed U.S. Marketwide Value Series Performance Chart.................................................. 61 Management's Discussion and Analysis............................... 62 Disclosure of Fund Expenses........................................ 64 Disclosure of Portfolio Holdings................................... 65 Summary Schedule of Portfolio Holdings............................. 66 Statement of Assets and Liabilities................................ 69 Statement of Operations............................................ 70 Statements of Changes in Net Assets................................ 71 Financial Highlights............................................... 72 Notes to Financial Statements...................................... 73 Report of Independent Registered Public Accounting Firm............ 78 Fund Management....................................................... 79 Voting Proxies on Fund Portfolio Securities........................... 88 Notice to Shareholders................................................ 89 This report is submitted for the information of the Fund's shareholders. It is not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus. i DFA INVESTMENT DIMENSIONS GROUP INC. THE DFA INVESTMENT TRUST COMPANY DEFINITIONS OF ABBREVIATIONS AND FOOTNOTES Schedules of Investments/Summary Schedules of Portfolio Holdings ---------------------------------------------------------------- Investment Abbreviations ADR American Depositary Receipt FNMA Federal National Mortgage Association P.L.C. Public Limited Company Investment Footnotes + See Note B to Financial Statements. ++ Securities have generally been fair valued. See Note B to Financial Statements. ** Calculated as a percentage of total net assets. Percentages shown parenthetically next to the category headings have been calculated as a percentage of total investments. "Other Securities" are those securities that are not among the top 50 holdings of the Fund or do not represent more than 1.0% of the net assets of the Fund. Some of the individual securities within this category may include Total or Partial Securities on Loan and/or Non-Income Producing Securities. * Non-Income Producing Securities. # Total or Partial Securities on Loan. @ Security purchased with cash proceeds from Securities on Loan. (S) Affiliated Fund. Financial Highlights -------------------- (A) Computed using average shares outstanding. (B) Represents the combined ratios for the respective portfolio and its respective pro-rata share of its Master Funds. All Statements, Schedules and Notes to Financial Statements ----------------------------------------------------------- -- Amounts designated as -- are either zero or rounded to zero. REIT Real Estate Investment Trust SEC Securities and Exchange Commission 1 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- TAX-MANAGED U.S. MARKETWIDE VALUE PORTFOLIO VS. RUSSELL 3000(R) VALUE INDEX October 31, 2003-October 31, 2013 [CHART] Growth of $10,000 Tax-Managed U.S. Marketwide Value Portfolio Russell 3000 Value Index -------------------------- ------------------------ 10/2003 $10,000 $10,000 11/2003 $10,277 $10,155 12/2003 $10,799 $10,760 01/2004 $11,030 $10,964 02/2004 $11,271 $11,197 03/2004 $11,264 $11,119 04/2004 $11,060 $10,823 05/2004 $11,143 $10,934 06/2004 $11,489 $11,215 07/2004 $11,090 $11,027 08/2004 $11,025 $11,180 09/2004 $11,426 $11,376 10/2004 $11,575 $11,564 11/2004 $12,357 $12,186 12/2004 $12,761 $12,583 01/2005 $12,480 $12,336 02/2005 $12,957 $12,731 03/2005 $12,824 $12,549 04/2005 $12,356 $12,289 05/2005 $12,889 $12,622 06/2005 $13,211 $12,796 07/2005 $13,925 $13,197 08/2005 $13,906 $13,118 09/2005 $14,160 $13,284 10/2005 $13,812 $12,947 11/2005 $14,367 $13,379 12/2005 $14,428 $13,443 01/2006 $15,233 $14,017 02/2006 $15,186 $14,094 03/2006 $15,549 $14,330 04/2006 $15,929 $14,663 05/2006 $15,483 $14,271 06/2006 $15,582 $14,370 07/2006 $15,486 $14,668 08/2006 $15,563 $14,931 09/2006 $15,863 $15,215 10/2006 $16,474 $15,738 11/2006 $16,875 $16,106 12/2006 $17,201 $16,447 01/2007 $17,642 $16,660 02/2007 $17,421 $16,406 03/2007 $17,616 $16,654 04/2007 $18,241 $17,229 05/2007 $19,098 $17,852 06/2007 $18,689 $17,435 07/2007 $17,666 $16,571 08/2007 $17,569 $16,769 09/2007 $18,013 $17,304 10/2007 $18,022 $17,321 11/2007 $16,966 $16,438 12/2007 $16,890 $16,281 01/2008 $16,218 $15,627 02/2008 $15,625 $14,975 03/2008 $15,348 $14,888 04/2008 $16,211 $15,594 05/2008 $16,568 $15,612 06/2008 $14,738 $14,119 07/2008 $14,618 $14,127 08/2008 $14,917 $14,402 09/2008 $13,651 $13,376 10/2008 $10,598 $11,030 11/2008 $ 9,547 $10,199 12/2008 $ 9,867 $10,379 01/2009 $ 8,580 $ 9,162 02/2009 $ 7,425 $ 7,934 03/2009 $ 8,206 $ 8,614 04/2009 $ 9,621 $ 9,573 05/2009 $10,344 $10,133 06/2009 $10,208 $10,062 07/2009 $11,242 $10,912 08/2009 $11,990 $11,478 09/2009 $12,533 $11,932 10/2009 $11,927 $11,533 11/2009 $12,482 $12,160 12/2009 $12,932 $12,430 01/2010 $12,571 $12,079 02/2010 $13,149 $12,475 03/2010 $14,185 $13,305 04/2010 $14,733 $13,699 05/2010 $13,472 $12,570 06/2010 $12,441 $11,830 07/2010 $13,436 $12,634 08/2010 $12,555 $12,061 09/2010 $13,802 $13,024 10/2010 $14,332 $13,424 11/2010 $14,363 $13,386 12/2010 $15,722 $14,447 01/2011 $16,109 $14,747 02/2011 $17,018 $15,308 03/2011 $17,124 $15,381 04/2011 $17,522 $15,777 05/2011 $17,250 $15,601 06/2011 $16,947 $15,276 07/2011 $16,222 $14,769 08/2011 $14,867 $13,816 09/2011 $13,356 $12,735 10/2011 $15,213 $14,222 11/2011 $15,097 $14,152 12/2011 $15,239 $14,432 01/2012 $16,036 $15,010 02/2012 $16,886 $15,579 03/2012 $17,240 $16,042 04/2012 $16,921 $15,873 05/2012 $15,728 $14,939 06/2012 $16,554 $15,679 07/2012 $16,693 $15,817 08/2012 $17,325 $16,171 09/2012 $17,949 $16,689 10/2012 $18,003 $16,598 11/2012 $18,110 $16,595 12/2012 $18,627 $16,964 01/2013 $19,862 $18,060 02/2013 $20,165 $18,315 03/2013 $21,166 $19,044 04/2013 $21,307 $19,308 05/2013 $22,002 $19,810 06/2013 $21,866 $19,642 07/2013 $23,195 $20,718 Past performance is not predictive of 08/2013 $22,509 $19,922 future performance. 09/2013 $23,328 $20,472 10/2013 $24,432 $21,350 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Average Annual One Five Ten Total Return Year Years Years Russell data copyright (C) Russell --------------------------------------------------------- Investment Group 1995-2013, all rights 35.71% 18.18% 9.34% reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- TAX-MANAGED U.S. EQUITY PORTFOLIO VS. RUSSELL 3000(R) INDEX October 31, 2003-October 31, 2013 [CHART] Growth of $10,000 Tax-Managed U.S. Equity Portfolio Russell 3000 Index --------------------------------- ------------------ 10/2003 $10,000 $10,000 11/2003 $10,128 $10,138 12/2003 $10,536 $10,601 01/2004 $10,749 $10,823 02/2004 $10,906 $10,969 03/2004 $10,767 $10,838 04/2004 $10,592 $10,614 05/2004 $10,749 $10,768 06/2004 $10,946 $10,982 07/2004 $10,511 $10,567 08/2004 $10,511 $10,610 09/2004 $10,697 $10,774 10/2004 $10,846 $10,951 11/2004 $11,347 $11,460 12/2004 $11,739 $11,868 01/2005 $11,459 $11,552 02/2005 $11,701 $11,806 03/2005 $11,505 $11,607 04/2005 $11,233 $11,355 05/2005 $11,664 $11,785 06/2005 $11,737 $11,867 07/2005 $12,234 $12,354 08/2005 $12,140 $12,236 09/2005 $12,243 $12,344 10/2005 $12,008 $12,112 11/2005 $12,478 $12,584 12/2005 $12,473 $12,594 01/2006 $12,861 $13,015 02/2006 $12,889 $13,038 03/2006 $13,096 $13,263 04/2006 $13,238 $13,407 05/2006 $12,812 $12,978 06/2006 $12,811 $13,001 07/2006 $12,792 $12,989 08/2006 $13,087 $13,306 09/2006 $13,383 $13,604 10/2006 $13,813 $14,094 11/2006 $14,080 $14,401 12/2006 $14,268 $14,573 01/2007 $14,518 $14,850 02/2007 $14,287 $14,607 03/2007 $14,453 $14,759 04/2007 $15,031 $15,348 05/2007 $15,579 $15,908 06/2007 $15,321 $15,610 07/2007 $14,799 $15,078 08/2007 $15,002 $15,294 09/2007 $15,534 $15,852 10/2007 $15,796 $16,142 11/2007 $15,098 $15,416 12/2007 $15,018 $15,322 01/2008 $14,111 $14,394 02/2008 $13,701 $13,947 03/2008 $13,628 $13,864 04/2008 $14,303 $14,558 05/2008 $14,596 $14,856 06/2008 $13,444 $13,630 07/2008 $13,365 $13,521 08/2008 $13,571 $13,731 09/2008 $12,333 $12,440 10/2008 $10,222 $10,233 11/2008 $ 9,511 $ 9,426 12/2008 $ 9,682 $ 9,606 01/2009 $ 8,874 $ 8,800 02/2009 $ 7,977 $ 7,878 03/2009 $ 8,631 $ 8,568 04/2009 $ 9,343 $ 9,470 05/2009 $ 9,794 $ 9,975 06/2009 $ 9,845 $10,009 07/2009 $10,581 $10,788 08/2009 $10,893 $11,174 09/2009 $11,334 $11,642 10/2009 $11,071 $11,342 11/2009 $11,688 $11,987 12/2009 $12,020 $12,328 01/2010 $11,583 $11,884 02/2010 $11,969 $12,287 03/2010 $12,716 $13,061 04/2010 $12,971 $13,343 05/2010 $11,951 $12,289 06/2010 $11,273 $11,583 07/2010 $12,062 $12,387 08/2010 $11,478 $11,804 09/2010 $12,570 $12,918 10/2010 $13,074 $13,423 11/2010 $13,156 $13,500 12/2010 $14,039 $14,415 01/2011 $14,340 $14,730 02/2011 $14,857 $15,267 03/2011 $14,925 $15,335 04/2011 $15,371 $15,792 05/2011 $15,184 $15,612 06/2011 $14,932 $15,331 07/2011 $14,588 $14,980 08/2011 $13,713 $14,082 09/2011 $12,696 $12,989 10/2011 $14,109 $14,484 11/2011 $14,099 $14,445 12/2011 $14,205 $14,563 01/2012 $14,890 $15,298 02/2012 $15,543 $15,945 03/2012 $16,007 $16,437 04/2012 $15,891 $16,329 05/2012 $14,898 $15,320 06/2012 $15,468 $15,920 07/2012 $15,638 $16,078 08/2012 $16,031 $16,479 09/2012 $16,463 $16,912 10/2012 $16,165 $16,620 11/2012 $16,293 $16,749 12/2012 $16,476 $16,954 01/2013 $17,379 $17,884 02/2013 $17,605 $18,121 03/2013 $18,294 $18,831 04/2013 $18,574 $19,140 05/2013 $19,070 $19,591 06/2013 $18,837 $19,337 07/2013 $19,876 $20,397 Past performance is not predictive of 08/2013 $19,313 $19,827 future performance. 09/2013 $20,017 $20,565 10/2013 $20,876 $21,438 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Average Annual One Five Ten Total Return Year Years Years Russell data copyright (C) Russell --------------------------------------------------------- Investment Group 1995-2013, all rights 29.15% 15.35% 7.64% reserved. -------------------------------------------------------------------------------- 2 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- TAX-MANAGED U.S. TARGETED VALUE PORTFOLIO VS. RUSSELL 2000(R) VALUE INDEX October 31, 2003-October 31, 2013 [CHART] Growth of $10,000 Tax-Managed U.S. Targeted Value Portfolio Russell 2000 Value Index ------------------------ ------------------------ 10/2003 $10000 $10000 11/2003 $10434 $10384 12/2003 $10842 $10760 01/2004 $11288 $11132 02/2004 $11462 $11348 03/2004 $11566 $11505 04/2004 $11103 $10910 05/2004 $11158 $11042 06/2004 $11741 $11603 07/2004 $11060 $11069 08/2004 $10924 $11178 09/2004 $11486 $11620 10/2004 $11590 $11800 11/2004 $12713 $12847 12/2004 $13199 $13154 01/2005 $12793 $12645 02/2005 $13110 $12897 03/2005 $12810 $12631 04/2005 $11931 $11979 05/2005 $12648 $12710 06/2005 $13154 $13272 07/2005 $14089 $14027 08/2005 $13922 $13705 09/2005 $14010 $13682 10/2005 $13626 $13339 11/2005 $14249 $13880 12/2005 $14277 $13773 01/2006 $15513 $14912 02/2006 $15410 $14911 03/2006 $16245 $15633 04/2006 $16428 $15675 05/2006 $15679 $15026 06/2006 $15684 $15211 07/2006 $15104 $15000 08/2006 $15397 $15448 09/2006 $15553 $15599 10/2006 $16349 $16393 11/2006 $16771 $16860 12/2006 $16969 $17007 01/2007 $17319 $17262 02/2007 $17231 $17050 03/2007 $17440 $17256 04/2007 $17777 $17435 05/2007 $18458 $18074 06/2007 $18180 $17653 07/2007 $16855 $16150 08/2007 $16834 $16474 09/2007 $16841 $16548 10/2007 $16990 $16729 11/2007 $15667 $15475 12/2007 $15518 $15344 01/2008 $14778 $14715 02/2008 $14379 $14130 03/2008 $14510 $14343 04/2008 $14946 $14797 05/2008 $15563 $15303 06/2008 $14097 $13835 07/2008 $14191 $14544 08/2008 $14679 $15235 09/2008 $13426 $14521 10/2008 $10520 $11620 11/2008 $9155 $10274 12/2008 $9659 $10906 01/2009 $8347 $9348 02/2009 $7191 $8050 03/2009 $7844 $8764 04/2009 $9314 $10155 05/2009 $9690 $10375 06/2009 $9648 $10342 07/2009 $10780 $11538 08/2009 $11298 $12084 09/2009 $11897 $12690 10/2009 $11089 $11847 11/2009 $11459 $12224 12/2009 $12328 $13150 01/2010 $12023 $12765 02/2010 $12715 $13357 03/2010 $13746 $14468 04/2010 $14765 $15480 05/2010 $13508 $14172 06/2010 $12285 $12935 07/2010 $13246 $13858 08/2010 $12203 $12816 09/2010 $13644 $14192 10/2010 $14241 $14742 11/2010 $14793 $15117 12/2010 $16080 $16373 01/2011 $16147 $16381 02/2011 $17061 $17213 03/2011 $17376 $17452 04/2011 $17683 $17736 05/2011 $17263 $17418 06/2011 $16920 $16990 07/2011 $16388 $16428 08/2011 $14739 $14977 09/2011 $12985 $13341 10/2011 $15036 $15264 11/2011 $15006 $15234 12/2011 $15152 $15472 01/2012 $16125 $16500 02/2012 $16729 $16746 03/2012 $17070 $17265 04/2012 $16791 $17015 05/2012 $15562 $15976 06/2012 $16177 $16746 07/2012 $16116 $16575 08/2012 $16843 $17086 09/2012 $17388 $17695 10/2012 $17350 $17473 11/2012 $17684 $17526 12/2012 $18318 $18265 01/2013 $19562 $19353 02/2013 $19914 $19574 03/2013 $20877 $20389 04/2013 $20712 $20369 05/2013 $21714 $20978 Past performance is not predictive of 06/2013 $21561 $20893 future performance. 07/2013 $23090 $22236 08/2013 $22236 $21252 The returns shown do not reflect the 09/2013 $23483 $22479 deduction of taxes that a shareholder 10/2013 $24394 $23210 would pay on fund distributions or the redemption of fund shares. Average Annual One Five Ten Total Return Year Years Years Russell data copyright (C) Russell ----------------------------------------------------------- Investment Group 1995-2013, all rights 40.60% 18.32% 9.33% reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- TAX-MANAGED U.S. SMALL CAP PORTFOLIO VS. RUSSELL 2000(R) INDEX October 31, 2003-October 31, 2013 [CHART] Growth of $10,000 Tax-Managed U.S. Small Cap Portfolio Russell 2000 Index ------------------- ------------------ 10/2003 $10000 $10000 11/2003 $10378 $10355 12/2003 $10578 $10565 01/2004 $11062 $11024 02/2004 $11155 $11123 03/2004 $11230 $11226 04/2004 $10741 $10654 05/2004 $10852 $10823 06/2004 $11265 $11279 07/2004 $10444 $10520 08/2004 $10293 $10466 09/2004 $10811 $10957 10/2004 $11015 $11173 11/2004 $11952 $12142 12/2004 $12441 $12501 01/2005 $12004 $11980 02/2005 $12237 $12182 03/2005 $11888 $11834 04/2005 $11153 $11156 05/2005 $11911 $11886 06/2005 $12335 $12344 07/2005 $13203 $13126 08/2005 $13052 $12883 09/2005 $13174 $12923 10/2005 $12772 $12522 11/2005 $13384 $13130 12/2005 $13392 $13070 01/2006 $14595 $14242 02/2006 $14513 $14203 03/2006 $15181 $14892 04/2006 $15256 $14889 05/2006 $14392 $14053 06/2006 $14329 $14144 07/2006 $13756 $13683 08/2006 $14066 $14089 09/2006 $14163 $14206 10/2006 $14930 $15024 11/2006 $15375 $15419 12/2006 $15465 $15471 01/2007 $15747 $15729 02/2007 $15712 $15605 03/2007 $15926 $15772 04/2007 $16290 $16055 05/2007 $16971 $16713 06/2007 $16796 $16469 07/2007 $15792 $15343 08/2007 $15903 $15690 09/2007 $16166 $15960 10/2007 $16514 $16417 11/2007 $15230 $15239 12/2007 $15213 $15229 01/2008 $14104 $14191 02/2008 $13736 $13665 03/2008 $13737 $13722 04/2008 $14170 $14296 05/2008 $14823 $14953 06/2008 $13653 $13802 07/2008 $13990 $14313 08/2008 $14333 $14829 09/2008 $13015 $13648 10/2008 $10275 $10809 11/2008 $8977 $9530 12/2008 $9366 $10083 01/2009 $8268 $8962 02/2009 $7254 $7873 03/2009 $7958 $8576 04/2009 $9262 $9901 05/2009 $9544 $10200 06/2009 $9778 $10349 07/2009 $10704 $11346 08/2009 $10900 $11672 09/2009 $11486 $12345 10/2009 $10685 $11507 11/2009 $10934 $11868 12/2009 $11826 $12823 01/2010 $11437 $12351 02/2010 $11945 $12907 03/2010 $12901 $13958 04/2010 $13744 $14748 05/2010 $12677 $13629 06/2010 $11703 $12573 07/2010 $12534 $13437 08/2010 $11545 $12442 09/2010 $12979 $13992 10/2010 $13527 $14565 11/2010 $14109 $15070 12/2010 $15208 $16267 01/2011 $15195 $16225 02/2011 $16063 $17115 03/2011 $16562 $17558 04/2011 $16907 $18022 05/2011 $16555 $17684 06/2011 $16289 $17276 07/2011 $15778 $16652 08/2011 $14337 $15203 09/2011 $12742 $13499 10/2011 $14678 $15542 11/2011 $14624 $15485 12/2011 $14746 $15587 01/2012 $15741 $16689 02/2012 $16129 $17088 03/2012 $16589 $17526 04/2012 $16362 $17255 05/2012 $15307 $16113 06/2012 $15976 $16917 07/2012 $15862 $16683 08/2012 $16405 $17240 09/2012 $16973 $17806 10/2012 $16725 $17420 11/2012 $16906 $17512 12/2012 $17481 $18136 01/2013 $18539 $19271 02/2013 $18763 $19484 03/2013 $19637 $20383 04/2013 $19481 $20309 05/2013 $20465 $21120 06/2013 $20473 $21012 Past performance is not predictive of 07/2013 $22001 $22483 future performance. 08/2013 $21302 $21769 09/2013 $22652 $23157 The returns shown do not reflect the 10/2013 $23339 $23740 deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Average Annual One Five Ten Total Return Year Years Years Russell data copyright (C) Russell ----------------------------------------------------------- Investment Group 1995-2013, all rights 39.55% 17.83% 8.85% reserved. -------------------------------------------------------------------------------- 3 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- T.A. U.S. CORE EQUITY 2 PORTFOLIO VS. RUSSELL 3000(R) INDEX October 4, 2007-October 31, 2013 [CHART] Growth of $10,000 T.A. U.S Core Equity 2 Portfolio Russell 3000 Index -------------------------------- ------------------ 10/2007 $10000 $10000 10/2007 $9950 $10057 11/2007 $9400 $9604 12/2007 $9305 $9546 01/2008 $8874 $8968 02/2008 $8613 $8689 03/2008 $8525 $8638 04/2008 $8937 $9070 05/2008 $9189 $9255 06/2008 $8339 $8492 07/2008 $8420 $8424 08/2008 $8642 $8555 09/2008 $7905 $7750 10/2008 $6377 $6376 11/2008 $5810 $5872 12/2008 $5991 $5985 01/2009 $5370 $5482 02/2009 $4748 $4908 03/2009 $5221 $5338 04/2009 $5927 $5900 05/2009 $6183 $6215 06/2009 $6188 $6236 07/2009 $6743 $6721 08/2009 $7021 $6961 09/2009 $7363 $7253 10/2009 $7043 $7066 11/2009 $7363 $7468 12/2009 $7710 $7681 01/2010 $7461 $7404 02/2010 $7772 $7655 03/2010 $8327 $8137 04/2010 $8638 $8313 05/2010 $7942 $7656 06/2010 $7384 $7216 07/2010 $7936 $7717 08/2010 $7457 $7354 09/2010 $8243 $8048 10/2010 $8557 $8363 11/2010 $8703 $8411 12/2010 $9380 $8981 01/2011 $9570 $9177 02/2011 $10001 $9511 03/2011 $10123 $9554 04/2011 $10365 $9839 05/2011 $10197 $9726 06/2011 $9996 $9552 07/2011 $9658 $9333 08/2011 $8929 $8773 09/2011 $8082 $8092 10/2011 $9154 $9024 11/2011 $9122 $8999 12/2011 $9197 $9073 01/2012 $9698 $9531 02/2012 $10125 $9934 03/2012 $10367 $10241 04/2012 $10261 $10174 05/2012 $9555 $9545 06/2012 $9933 $9918 07/2012 $9976 $10017 08/2012 $10298 $10267 09/2012 $10607 $10536 10/2012 $10510 $10355 11/2012 $10618 $10435 12/2012 $10846 $10563 01/2013 $11542 $11142 02/2013 $11673 $11290 03/2013 $12166 $11732 04/2013 $12264 $11924 05/2013 $12711 $12206 06/2013 $12596 $12047 Past performance is not predictive of 07/2013 $13351 $12708 future performance. 08/2013 $12935 $12353 09/2013 $13490 $12812 The returns shown do not reflect the 10/2013 $14039 $13356 deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Average Annual One Five From Total Return Year Years 10/4/2007 Russell data copyright (C) Russell ---------------------------------------------------------------- Investment Group 1995-2013, all rights 33.58% 17.10% 5.74% reserved. -------------------------------------------------------------------------------- 4 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- TAX-MANAGED DFA INTERNATIONAL VALUE PORTFOLIO VS. MSCI WORLD EX USA INDEX (NET DIVIDENDS) October 31, 2003-October 31, 2013 [CHART] Growth of $10,000 Tax-Managed DFA MSCI World International Value Portfolio ex USA Index (net dividends) ----------------------------- ---------------------------- 10/2003 $10000 $10000 11/2003 $10178 $10227 12/2003 $10928 $11011 01/2004 $11234 $11164 02/2004 $11539 $11421 03/2004 $11711 $11478 04/2004 $11358 $11178 05/2004 $11453 $11230 06/2004 $11924 $11489 07/2004 $11462 $11139 08/2004 $11549 $11185 09/2004 $11863 $11511 10/2004 $12289 $11925 11/2004 $13200 $12718 12/2004 $13883 $13255 01/2005 $13805 $12994 02/2005 $14361 $13572 03/2005 $14010 $13264 04/2005 $13591 $12926 05/2005 $13610 $12950 06/2005 $13839 $13161 07/2005 $14441 $13586 08/2005 $14955 $13961 09/2005 $15415 $14599 10/2005 $15147 $14127 11/2005 $15395 $14501 12/2005 $16182 $15173 01/2006 $17297 $16133 02/2006 $17469 $16079 03/2006 $18138 $16589 04/2006 $19070 $17382 05/2006 $18290 $16722 06/2006 $18135 $16700 07/2006 $18424 $16857 08/2006 $19033 $17336 09/2006 $19254 $17322 10/2006 $20108 $18006 11/2006 $20785 $18543 12/2006 $21585 $19074 01/2007 $22001 $19191 02/2007 $21968 $19344 03/2007 $22701 $19840 04/2007 $23816 $20742 05/2007 $24614 $21203 06/2007 $24416 $21224 07/2007 $23761 $20931 08/2007 $23484 $20628 09/2007 $24737 $21800 10/2007 $25941 $22748 11/2007 $24425 $21858 12/2007 $23915 $21447 01/2008 $21920 $19513 02/2008 $21602 $19867 03/2008 $21911 $19583 04/2008 $22867 $20672 05/2008 $22879 $20986 06/2008 $20661 $19354 07/2008 $20122 $18665 08/2008 $19270 $17943 09/2008 $17198 $15353 10/2008 $13292 $12159 11/2008 $12423 $11500 12/2008 $13301 $12106 01/2009 $11527 $10976 02/2009 $10071 $9865 03/2009 $11075 $10515 04/2009 $13070 $11871 05/2009 $15013 $13373 06/2009 $14812 $13234 07/2009 $16538 $14477 08/2009 $17434 $15170 09/2009 $18284 $15796 10/2009 $17581 $15543 11/2009 $18102 $15927 12/2009 $18327 $16181 01/2010 $17241 $15423 02/2010 $17293 $15407 03/2010 $18600 $16399 04/2010 $18286 $16155 05/2010 $16149 $14372 06/2010 $15875 $14164 07/2010 $17764 $15473 08/2010 $16913 $15011 09/2010 $18718 $16451 10/2010 $19399 $17037 11/2010 $18477 $16315 12/2010 $20198 $17629 01/2011 $21057 $18009 02/2011 $21755 $18676 03/2011 $21178 $18302 04/2011 $22282 $19299 05/2011 $21434 $18727 06/2011 $21080 $18460 07/2011 $20410 $18156 08/2011 $18249 $16621 09/2011 $16272 $14952 10/2011 $17883 $16406 11/2011 $17318 $15648 12/2011 $16823 $15477 01/2012 $17948 $16312 02/2012 $18934 $17209 03/2012 $18773 $17082 04/2012 $18077 $16792 05/2012 $15823 $14878 06/2012 $16948 $15852 07/2012 $16863 $16050 08/2012 $17557 $16508 09/2012 $18165 $17009 10/2012 $18379 $17128 11/2012 $18649 $17488 12/2012 $19573 $18017 01/2013 $20533 $18903 02/2013 $19888 $18715 03/2013 $19922 $18863 04/2013 $20883 $19722 05/2013 $20596 $19281 06/2013 $19860 $18558 Past performance is not predictive of 07/2013 $21186 $19546 future performance. 08/2013 $21041 $19294 09/2013 $22651 $20657 The returns shown do not reflect the 10/2013 $23413 $21350 deduction of taxes that a shareholder would pay on fund distributions or the Average Annual One Five Ten redemption of fund shares. Total Return Year Years Years ------------------------------------------------------------- MSCI data copyright MSCI 2013, all 27.39% 11.99% 8.88% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- T.A. WORLD EX U.S. CORE EQUITY PORTFOLIO VS. MSCI ALL COUNTRY WORLD EX USA INDEX (NET DIVIDENDS) March 6, 2008-October 31, 2013 [CHART] Growth of $10,000 T.A. World ex U.S. MSCI All Country World Core Equity Portfolio ex USA Index (net dividends) --------------------- ---------------------------- 03/2008 $10000 $10000 03/2008 $10160 $9940 04/2008 $10630 $10541 05/2008 $10750 $10708 06/2008 $9681 $9828 07/2008 $9357 $9474 08/2008 $8942 $9031 09/2008 $7757 $7674 10/2008 $5929 $5985 11/2008 $5584 $5638 12/2008 $6015 $5960 01/2009 $5382 $5433 02/2009 $4841 $4926 03/2009 $5344 $5321 04/2009 $6193 $6046 05/2009 $7186 $6865 06/2009 $7119 $6789 07/2009 $7884 $7453 08/2009 $8205 $7729 09/2009 $8681 $8126 10/2009 $8442 $8025 11/2009 $8743 $8255 12/2009 $8924 $8430 01/2010 $8486 $8018 02/2010 $8528 $8018 03/2010 $9183 $8563 04/2010 $9152 $8488 05/2010 $8129 $7595 06/2010 $8051 $7497 07/2010 $8874 $8174 08/2010 $8579 $7950 09/2010 $9531 $8741 10/2010 $9859 $9038 11/2010 $9488 $8689 12/2010 $10314 $9370 01/2011 $10431 $9462 02/2011 $10644 $9711 03/2011 $10649 $9689 04/2011 $11182 $10162 05/2011 $10851 $9869 06/2011 $10663 $9726 07/2011 $10490 $9593 08/2011 $9530 $8771 09/2011 $8278 $7795 10/2011 $9115 $8617 11/2011 $8799 $8177 12/2011 $8560 $8086 01/2012 $9294 $8634 02/2012 $9809 $9119 03/2012 $9721 $8994 04/2012 $9502 $8852 05/2012 $8405 $7847 06/2012 $8878 $8309 07/2012 $8867 $8427 08/2012 $9123 $8603 09/2012 $9494 $8925 10/2012 $9561 $8959 11/2012 $9729 $9130 12/2012 $10221 $9446 01/2013 $10581 $9830 02/2013 $10480 $9726 03/2013 $10548 $9746 04/2013 $10886 $10104 05/2013 $10638 $9870 06/2013 $10191 $9442 07/2013 $10704 $9856 Past performance is not predictive of 08/2013 $10556 $9720 future performance. 09/2013 $11347 $10395 10/2013 $11749 $10777 The returns shown do not reflect the $ $ deduction of taxes that a shareholder would pay on fund distributions or the Average Annual One Five From redemption of fund shares. Total Return Year Years 3/6/2008 --------------------------------------------------------------- MSCI data copyright MSCI 2013, all 22.88% 14.66% 2.89% rights reserved. -------------------------------------------------------------------------------- 5 DFA INVESTMENT DIMENSIONS GROUP INC. MANAGEMENT'S DISCUSSION AND ANALYSIS U.S. Equity Market Review 12 Months Ended October 31, 2013 The one-year period ended October 31, 2013, was characterized by strong gains in U.S. equities. The broad U.S. equity market, as measured by the Russell 3000(R) Index, had positive returns in 10 of the 12 months. The size premium was positive during the period with small cap stocks outperforming large cap stocks as measured by the Russell indices. Micro cap stocks were the strongest performers. Total Return for 12 Months Ended October 31, 2013 ------------------------------------------------- Russell 3000(R) Index........................ 28.99% Russell Microcap(R) Index (micro cap stocks). 38.72% Russell 2000(R) Index (small cap stocks)..... 36.28% Russell 1000(R) Index (large cap stocks)..... 28.40% Dow Jones U.S. Select REIT Index/SM/......... 9.96% The value premium was negative in small cap stocks while the performance of large cap value and large cap growth was almost identical as measured by the Russell indices. Total Return for 12 Months Ended October 31, 2013 ------------------------------------------------- Russell 2000(R) Value Index (small cap value stocks)... 32.83% Russell 2000(R) Growth Index (small cap growth stocks). 39.84% Russell 1000(R) Value Index (large cap value stocks)... 28.29% Russell 1000(R) Growth Index (large cap growth stocks). 28.30% ---------- Source: Russell data copyright (C) Russell Investment Group 1995-2013, all rights reserved. Dimensional Fund Advisors LP ("Dimensional" or the "Advisor") believes that among the most important factors explaining differences in the behavior of diversified equity portfolios are the market capitalization and value/growth characteristics of the portfolios' holdings. Value characteristics are a function of stock price relative to one or more fundamental characteristics such as book value, earnings, or dividends. For many Dimensional U.S. equity portfolios, differences in returns over the 12 months ended October 31, 2013, were primarily attributable to differences in value/growth and size characteristics as well as the exclusion of REIT securities from most Dimensional portfolios and the exclusion of securities of highly regulated utilities from most value strategies. For many portfolios, the construction approach used by Dimensional generally resulted in portfolios with greater weight in value, small cap and/or micro cap companies relative to widely used benchmarks. Master-Feeder Structure Certain portfolios described below, called "Feeder Funds," do not buy individual securities directly; instead, these portfolios invest in corresponding funds called "Master Funds." Master Funds, in turn, purchase stocks and/or other securities. Domestic Equity Portfolios' Performance Overview Tax-Managed U.S. Marketwide Value Portfolio The Tax-Managed U.S. Marketwide Value Portfolio seeks to capture the returns of U.S. value stocks by purchasing shares of The Tax-Managed U.S. Marketwide Value Series, a Master Fund that invests in such stocks. Value is measured primarily by book-to-market ratio. The Portfolio also seeks to maximize the after-tax value of a shareholder's investment. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Master Fund held approximately 1,300 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Master Fund's assets. 6 For the 12 months ended October 31, 2013, total returns were 35.71% for the Portfolio and 28.64% for the Russell 3000(R) Value Index. As a result of the Master Fund's diversified investment approach, performance was determined principally by broad structural trends in the U.S. equity market rather than the behavior of a limited number of stocks. The Master Fund had significantly greater exposure than the Index to deeper value stocks, as measured by book-to-market. These stocks generally outperformed, and the Master Fund's higher weight in value stocks contributed to the Portfolio's outperformance relative to the Index. The Master Fund invests in stocks across all size categories while the Index primarily holds large cap and mid-cap stocks. Small cap stocks generally outperformed large and mid cap stocks during the period, and the Master Fund's greater exposure to small cap stocks benefited the Portfolio's relative performance. The Master Fund's exclusion of real estate investment trusts ("REITs") and highly regulated utilities also contributed to the Portfolio's outperformance relative to the Index as both sectors underperformed the overall Index during the period. Tax-Managed U.S. Equity Portfolio The Tax-Managed U.S. Equity Portfolio seeks to capture the returns associated with the broad universe of U.S. stocks. The Portfolio also seeks to maximize the after-tax value of a shareholder's investment. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 2,500 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 29.15% for the Portfolio and 28.99% for the Russell 3000(R) Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the U.S. equity market, rather than the behavior of a limited number of stocks. The Portfolio's exclusion of real estate investment trusts ("REITs") contributed to the Portfolio's outperformance relative to the Index as REITs underperformed during the period. Tax-Managed U.S. Targeted Value Portfolio The Tax-Managed U.S. Targeted Value Portfolio seeks to capture the returns of U.S. small- and mid-capitalization value stocks. Value is measured primarily by book-to-market ratio. The Portfolio also seeks to maximize the after-tax value of a shareholder's investment. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 1,500 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 40.60% for the Portfolio and 32.83% for the Russell 2000(R) Value Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the U.S. equity market, rather than the behavior of a limited number of stocks. The Portfolio's exclusion of real estate investment trusts ("REITs") and highly regulated utilities contributed to the Portfolio's outperformance relative to the Index as both sectors underperformed the overall Index during the period. Tax-Managed U.S. Small Cap Portfolio The Tax-Managed U.S. Small Cap Portfolio seeks to capture the returns of U.S. small company stocks. The Portfolio also seeks to maximize the after-tax value of a shareholder's investment. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 2,000 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 39.55% for the Portfolio and 36.28% for the Russell 2000(R) Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the U.S. equity market, rather than the behavior of a limited number of stocks. The Portfolio had greater exposure than the Index to micro cap stocks which contributed to the Portfolio's outperformance relative to the Index as micro cap stocks generally outperformed small and mid-cap stocks during the period. The Portfolio's exclusion of real estate investment trusts ("REITs") also contributed to the Portfolio's outperformance relative to the Index as REITs underperformed during the period. The Portfolio excluded certain 7 extreme small cap growth stocks, as measured by book-to-market ratio and other metrics, which were held by the Index. These stocks generally underperformed, and their exclusion from the Portfolio benefited the Portfolio's relative performance. T.A. U.S. Core Equity 2 Portfolio The T.A. U.S. Core Equity 2 Portfolio seeks to capture the returns of the total U.S. market universe, with increased exposure to smaller company stocks and value stocks relative to the market while considering federal income tax implications of investment decisions. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 2,800 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 33.58% for the Portfolio and 28.99% for the Russell 3000(R) Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the U.S. equity market, rather than the behavior of a limited number of stocks. The Portfolio had greater exposure than the Index to small cap stocks and less exposure to large cap stocks, both of which contributed to the Portfolio's outperformance relative to the index as small cap stocks generally outperformed large cap stocks during the period. The Portfolio's exclusion of real estate investment trusts ("REITs") also contributed to the Portfolio's outperformance relative to the Index as REITs underperformed during the period. International Equity Market Review 12 Months Ended October 31, 2013 The one-year period ended October 31, 2013, was characterized by generally positive monthly returns in the international equity markets with the exception of a sharp decline from May to June and a smaller decline in August. As measured by the MSCI indices below for developed markets outside the U.S., small cap stocks generally outperformed large cap stocks while value stocks outperformed growth stocks. 12 Months Ended October 31, 2013 -------------------------------- U.S. Dollar Return ------------------ MSCI World ex USA Index........... 24.65% MSCI World ex USA Small Cap Index. 27.81% MSCI World ex USA Value Index..... 26.12% MSCI World ex USA Growth Index.... 23.17% During the period, the U.S. dollar (USD) was mixed against developed markets currencies. While the U.S. dollar depreciated against the euro, Swiss franc, and several other European-based developed markets currencies, it appreciated against the sterling, Canadian dollar, Australian dollar and Japanese yen. 12 Months Ended October 31, 2013 -------------------------------- Ten Largest Foreign Developed Markets by Market Cap Local Currency Return U.S. Dollar Return --------------------------------------------------- --------------------- ------------------ United Kingdom.................... 20.70% 20.37% Japan............................. 64.48% 34.00% Canada............................ 10.59% 5.99% France............................ 27.55% 33.82% Australia......................... 26.44% 15.47% Switzerland....................... 27.49% 31.10% Germany........................... 24.72% 30.85% Spain............................. 30.69% 37.11% Sweden............................ 24.39% 27.55% Hong Kong......................... 14.30% 14.25% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2013, all rights reserved. 8 Gains in emerging markets were lower on average than in developed markets although results varied widely among the individual emerging markets countries. For the one-year period ended October 31, 2013, returns in U.S. dollars were 6.53% for the MSCI Emerging Markets Index (net dividends) versus 24.65% for the MSCI World ex USA Index (net dividends). As measured by the MSCI emerging markets indices, small cap stocks outperformed large cap stocks while growth stocks outperformed value stocks. 12 Months Ended October 31, 2013 -------------------------------- U.S. Dollar Return - ------------------ MSCI Emerging Markets Index........... 6.53% MSCI Emerging Markets Small Cap Index. 10.29% MSCI Emerging Markets Value Index..... 3.88% MSCI Emerging Markets Growth Index.... 9.06% During the period, the U.S. dollar (USD) generally appreciated against most emerging markets currencies, except those in eastern Europe, decreasing USD denominated returns in emerging markets. 12 Months Ended October 31, 2013 -------------------------------- Ten Largest Emerging Markets by Market Cap Local Currency Return U.S. Dollar Return ------------------------------------------ --------------------- ------------------ China........................ 9.32% 9.28% South Korea.................. 9.57% 12.65% Brazil....................... 7.85% -1.52% Taiwan....................... 18.76% 18.08% South Africa................. 20.85% 5.07% India........................ 14.98% 0.65% Russia....................... 12.94% 10.89% Mexico....................... 1.41% 2.11% Malaysia..................... 13.25% 9.32% Indonesia.................... 1.33% -13.66% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2013, all rights reserved. International Equity Portfolios' Performance Overview Tax-Managed DFA International Value Portfolio The Tax-Managed DFA International Value Portfolio seeks to capture the returns of international large company value stocks. Value is measured primarily by book-to-market ratio. The Portfolio also seeks to reduce or defer the impact of taxes on the value of a shareholder's investment. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 510 securities in 22 eligible developed countries. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 27.39% for the Portfolio and 24.65% for the MSCI World ex USA Index (net dividends). The Portfolio focuses on value stocks, as measured by book-to-market, while the Index is neutral with regard to value or growth. As large cap value stocks generally outperformed large cap growth stocks during the period, the Portfolio's significantly greater exposure than the Index to these securities contributed to the Portfolio's outperformance relative to the Index. In particular, the Portfolio's greater exposure to value stocks in the financial sector was beneficial as these names outperformed. The Portfolio's exclusion of real estate investment trusts ("REITs") also benefited the Portfolio's relative performance as REITs underperformed during the period. Differences in the valuation timing and methodology between the Portfolio and the Index generally detracted from the Portfolio's performance. The Portfolio prices foreign exchange rates at the closing of the U.S. markets while the Index uses rates at 4 pm London time. The Portfolio also may use fair value pricing to price certain portfolio securities at the closing of the U.S. markets while the Index uses local market closing prices. 9 T.A. World ex U.S. Core Equity Portfolio The T.A. World ex U.S. Core Equity Portfolio seeks to capture the returns of a broadly diversified basket of international stocks in developed and emerging markets, with increased exposure to smaller company stocks and those with value characteristics, while considering potential tax implications of investment decisions. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 7,000 securities in 43 eligible developed and emerging markets. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 22.88% for the Portfolio and 20.29% for the MSCI All Country World ex USA Index (net dividends). As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the international and emerging equity markets rather than by the behavior of a limited number of stocks. The Portfolio invests in stocks across all size categories while the Index primarily holds large cap and mid-cap stocks. Small cap stocks generally outperformed large and mid cap stocks during the period, and the Portfolio's greater exposure to small cap stocks contributed to the Portfolio's outperformance relative to the Index. The Portfolio's greater exposure to value stocks, as measured by book-to-market, was also beneficial as these stocks outperformed the Index. 10 DFA INVESTMENT DIMENSIONS GROUP INC. DISCLOSURE OF FUND EXPENSES (Unaudited) The following Expense Tables are shown so that you can understand the impact of fees on your investment. All mutual funds have operating expenses. As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports, among others. Operating expenses, legal and audit services, which are deducted from a fund's gross income, directly reduce the investment return of the fund. A fund's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs, in dollars, of investing in the fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period. The Expense Tables below illustrate your fund's costs in two ways. Actual Fund Return This section helps you to estimate the actual expenses after fee waivers that you paid over the period. The "Ending Account Value" shown is derived from the fund's actual return and "Expenses Paid During Period" reflect the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. To do so, simply divide your account value by $1,000 (for example, a $7,500 account value divided by $1,000 = 7.5), then multiply the result by the number given for your fund under the heading "Expenses Paid During Period." Hypothetical Example for Comparison Purposes This section is intended to help you compare your fund's costs with those of other mutual funds. The hypothetical "Ending Account Value" and "Expenses Paid During Period" are derived from the fund's actual expense ratio and an assumed 5% annual return before expenses. In this case, because the return used is not the fund's actual return, the results do not apply to your investment. The example is useful in making comparisons because the SEC requires all mutual funds to calculate expenses based on a 5% annual return. You can assess your fund's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. Please note that the expenses shown in the tables are meant to highlight and help you compare ongoing costs only and do not reflect any transactional costs, if applicable. The "Annualized Expense Ratio" represents the actual expenses for the six-month period indicated. Six Months Ended October 31, 2013 EXPENSE TABLES Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/13 10/31/13 Ratio* Period* --------- --------- ---------- -------- Tax-Managed U.S. Marketwide Value Portfolio** --------------------------------------------- Actual Fund Return $1,000.00 $1,146.70 0.37% $2.00 Hypothetical 5% Annual Return $1,000.00 $1,023.34 0.37% $1.89 Tax-Managed U.S. Equity Portfolio --------------------------------- Actual Fund Return $1,000.00 $1,123.90 0.22% $1.18 Hypothetical 5% Annual Return $1,000.00 $1,024.10 0.22% $1.12 11 DISCLOSURE OF FUND EXPENSES CONTINUED Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/13 10/31/13 Ratio* Period* --------- --------- ---------- -------- Tax-Managed U.S. Targeted Value Portfolio ----------------------------------------- Actual Fund Return $1,000.00 $1,177.80 0.44% $2.42 Hypothetical 5% Annual Return $1,000.00 $1,022.99 0.44% $2.24 Tax-Managed U.S. Small Cap Portfolio ------------------------------------ Actual Fund Return $1,000.00 $1,198.00 0.52% $2.88 Hypothetical 5% Annual Return $1,000.00 $1,022.58 0.52% $2.65 T.A. U.S. Core Equity 2 Portfolio --------------------------------- Actual Fund Return $1,000.00 $1,144.80 0.24% $1.30 Hypothetical 5% Annual Return $1,000.00 $1,024.00 0.24% $1.22 Tax-Managed DFA International Value Portfolio --------------------------------------------- Actual Fund Return $1,000.00 $1,121.10 0.53% $2.83 Hypothetical 5% Annual Return $1,000.00 $1,022.53 0.53% $2.70 T.A. World ex U.S. Core Equity Portfolio ---------------------------------------- Actual Fund Return $1,000.00 $1,079.30 0.45% $2.36 Hypothetical 5% Annual Return $1,000.00 $1,022.94 0.45% $2.29 ---------- * Expenses are equal to the fund's annualized expense ratio for the six-month period, multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period (184), then divided by the number of days in the year (365) to reflect the six-month period. **The Portfolio is a Feeder Fund. The expenses shown reflect the direct expenses of the Feeder Fund and the indirect payment of the Feeder Fund's portion of the expenses of its Master Fund (Affiliated Investment Company). 12 DFA INVESTMENT DIMENSIONS GROUP INC. DISCLOSURE OF PORTFOLIO HOLDINGS (Unaudited) The SEC requires that all funds file a complete Schedule of Investments with the SEC for their first and third fiscal quarters on Form N-Q. For DFA Investment Dimensions Group Inc., this would be for the fiscal quarters ending January 31 and July 31. The Form N-Q filing must be made within 60 days of the end of the quarter. DFA Investment Dimensions Group Inc. filed its most recent Form N-Q with the SEC on September 27, 2013. It is available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room). SEC regulations permit a fund to include in its reports to shareholders a "Summary Schedule of Portfolio Holdings" in lieu of a full Schedule of Investments. The Summary Schedule of Portfolio Holdings reports the fund's 50 largest holdings in unaffiliated issuers and any investments that exceed one percent of the fund's net assets at the end of the reporting period. The amendments also require that the Summary Schedule of Portfolio Holdings identify each category of investments that is held. A fund is required to file a complete Schedule of Investments with the SEC on Form N-CSR within ten days after mailing the annual and semi-annual reports to shareholders. It will be available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room). PORTFOLIO HOLDINGS The SEC requires that all funds present their categories of portfolio holdings in a table, chart or graph format in their annual and semi-annual shareholder reports, whether or not a Schedule of Investments is utilized. The following tables, which present portfolio holdings as a percent of total investments before short-term investments and collateral for loaned securities, are provided in compliance with such requirement. The categories shown below represent broad industry sectors. Each industry sector consists of one or more specific industry classifications. The categories of industry classification for the Affiliated Investment Company are represented in its Disclosure of Portfolio Holdings, which is included elsewhere within the report. Refer to the Summary Schedule of Portfolio Holdings for the underlying Affiliated Investment Company's holdings which reflect the investments by category. FEEDER FUND Affiliated Investment Company ----------------------------- Tax-Managed U.S. Marketwide Value Portfolio. 100.0% DOMESTIC AND INTERNATIONAL EQUITY PORTFOLIOS Tax-Managed U.S. Equity Portfolio Consumer Discretionary....................... 13.8% Consumer Staples............................. 9.3% Energy....................................... 10.0% Financials................................... 14.5% Health Care.................................. 12.8% Industrials.................................. 11.9% Information Technology....................... 18.2% Materials.................................... 3.9% Other........................................ -- Telecommunication Services................... 2.3% Utilities.................................... 3.3% ----- 100.0% Tax-Managed U.S. Targeted Value Portfolio Consumer Discretionary....................... 17.6% Consumer Staples............................. 4.0% Energy....................................... 8.3% Financials................................... 25.8% Health Care.................................. 5.8% Industrials.................................. 16.0% Information Technology....................... 13.0% Materials.................................... 8.4% Other........................................ -- Telecommunication Services................... 0.7% Utilities.................................... 0.4% ----- 100.0% Tax-Managed U.S. Small Cap Portfolio Consumer Discretionary....................... 17.2% Consumer Staples............................. 4.5% Energy....................................... 5.6% Financials................................... 20.1% Health Care.................................. 9.2% Industrials.................................. 17.9% Information Technology....................... 17.1% Materials.................................... 5.4% Other........................................ -- Real Estate Investment Trusts................ -- Telecommunication Services................... 0.8% Utilities.................................... 2.2% ----- 100.0% 13 DISCLOSURE OF PORTFOLIO HOLDINGS CONTINUED T.A. U.S. Core Equity 2 Portfolio Consumer Discretionary....................... 14.9% Consumer Staples............................. 5.9% Energy....................................... 11.6% Financials................................... 19.9% Health Care.................................. 10.7% Industrials.................................. 13.7% Information Technology....................... 13.7% Materials.................................... 4.9% Other........................................ -- Telecommunication Services................... 2.6% Utilities.................................... 2.1% ----- 100.0% Tax-Managed DFA International Value Portfolio Consumer Discretionary....................... 9.3% Consumer Staples............................. 4.9% Energy....................................... 12.4% Financials................................... 36.5% Health Care.................................. 1.5% Industrials.................................. 9.9% Information Technology....................... 3.8% Materials.................................... 11.2% Other........................................ -- Telecommunication Services................... 7.2% Utilities.................................... 3.3% ----- 100.0% T.A. World ex U.S. Core Equity Portfolio Consumer Discretionary....................... 13.4% Consumer Staples............................. 6.8% Energy....................................... 8.2% Financials................................... 26.4% Health Care.................................. 4.7% Industrials.................................. 16.1% Information Technology....................... 7.1% Materials.................................... 11.2% Other........................................ -- Real Estate Investment Trusts................ -- Telecommunication Services................... 3.2% Utilities.................................... 2.9% ----- 100.0% 14 TAX-MANAGED U.S. MARKETWIDE VALUE PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2013 Value+ -------------- AFFILIATED INVESTMENT COMPANY -- (100.0%) Investment in The Tax-Managed U.S. Marketwide Value Series of The DFA Investment Trust Company....................... $3,110,170,247 -------------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANY (Cost $1,838,617,379)........................................ $3,110,170,247 ============== Summary of the Portfolio's Master Fund's investments as of October 31, 2013, based on their valuation inputs, is located within this report (See Security Valuation Note). See accompanying Notes to Financial Statements. 15 TAX-MANAGED U.S. EQUITY PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2013 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (93.7%) Consumer Discretionary -- (12.9%) * Amazon.com, Inc.................... 38,978 $ 14,189,161 0.7% Comcast Corp. Class A.............. 224,903 10,700,885 0.6% Home Depot, Inc. (The)............. 148,392 11,558,253 0.6% McDonald's Corp.................... 107,641 10,389,509 0.5% Walt Disney Co. (The).............. 183,316 12,573,644 0.6% Other Securities................... 213,743,139 10.7% -------------- ------ Total Consumer Discretionary........... 273,154,591 13.7% -------------- ------ Consumer Staples -- (8.7%) Altria Group, Inc.................. 214,752 7,995,217 0.4% Coca-Cola Co. (The)................ 431,559 17,076,790 0.9% CVS Caremark Corp.................. 132,004 8,218,569 0.4% PepsiCo, Inc....................... 166,178 13,973,908 0.7% Philip Morris International, Inc... 170,074 15,156,995 0.8% Procter & Gamble Co. (The)......... 295,232 23,839,984 1.2% Wal-Mart Stores, Inc............... 174,326 13,379,520 0.7% Other Securities................... 85,026,171 4.2% -------------- ------ Total Consumer Staples................. 184,667,154 9.3% -------------- ------ Energy -- (9.4%) Chevron Corp....................... 207,157 24,850,554 1.3% ConocoPhillips..................... 124,211 9,104,666 0.5% Exxon Mobil Corp................... 471,305 42,238,354 2.1% Occidental Petroleum Corp.......... 85,483 8,213,207 0.4% Schlumberger, Ltd.................. 141,594 13,270,190 0.7% Other Securities................... 100,509,561 5.0% -------------- ------ Total Energy........................... 198,186,532 10.0% -------------- ------ Financials -- (13.6%) American Express Co................ 104,440 8,543,192 0.5% American International Group, Inc.. 147,222 7,604,016 0.4% Bank of America Corp............... 1,155,107 16,125,294 0.8% * Berkshire Hathaway, Inc. Class B... 183,795 21,151,129 1.1% Citigroup, Inc..................... 326,044 15,904,426 0.8% Goldman Sachs Group, Inc. (The).... 46,912 7,546,264 0.4% JPMorgan Chase & Co................ 403,904 20,817,212 1.1% Wells Fargo & Co................... 543,241 23,190,958 1.2% Other Securities................... 166,692,344 8.1% -------------- ------ Total Financials....................... 287,574,835 14.4% -------------- ------ Health Care -- (12.0%) AbbVie, Inc........................ 167,626 8,121,480 0.4% Amgen, Inc......................... 80,563 9,345,308 0.5% Bristol-Myers Squibb Co............ 175,807 9,233,384 0.5% * Gilead Sciences, Inc............... 163,352 11,596,358 0.6% Johnson & Johnson.................. 303,676 28,123,434 1.4% Merck & Co., Inc................... 314,073 14,161,552 0.7% Pfizer, Inc........................ 704,127 21,602,616 1.1% Other Securities................... 152,754,750 7.6% -------------- ------ Total Health Care...................... 254,938,882 12.8% -------------- ------ 16 TAX-MANAGED U.S. EQUITY PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Industrials -- (11.1%) 3M Co.............................................. 70,092 $ 8,821,078 0.5% Boeing Co. (The)................................... 77,367 10,096,393 0.5% General Electric Co................................ 1,094,103 28,599,852 1.5% Union Pacific Corp................................. 50,016 7,572,422 0.4% United Parcel Service, Inc. Class B................ 76,915 7,556,130 0.4% United Technologies Corp........................... 93,458 9,929,912 0.5% Other Securities................................... 163,350,013 8.0% -------------- ------ Total Industrials........................................ 235,925,800 11.8% -------------- ------ Information Technology -- (17.1%) Apple, Inc......................................... 95,889 50,087,619 2.5% Cisco Systems, Inc................................. 566,126 12,737,835 0.7% * Google, Inc. Class A............................... 29,251 30,145,496 1.5% Intel Corp......................................... 525,207 12,830,807 0.7% International Business Machines Corp............... 109,076 19,547,510 1.0% Mastercard, Inc. Class A........................... 12,491 8,957,296 0.5% Microsoft Corp..................................... 830,486 29,357,680 1.5% Oracle Corp........................................ 400,229 13,407,671 0.7% QUALCOMM, Inc...................................... 184,909 12,845,628 0.7% Visa, Inc. Class A................................. 55,143 10,844,974 0.6% Other Securities................................... 161,220,881 7.8% -------------- ------ Total Information Technology............................. 361,983,397 18.2% -------------- ------ Materials -- (3.7%) Other Securities................................... 77,654,853 3.9% -------------- ------ Other -- (0.0%) Other Securities................................... 6 0.0% -------------- ------ Telecommunication Services -- (2.2%) AT&T, Inc.......................................... 570,785 20,662,417 1.1% Verizon Communications, Inc........................ 307,630 15,538,391 0.8% Other Securities................................... 9,836,629 0.4% -------------- ------ Total Telecommunication Services......................... 46,037,437 2.3% -------------- ------ Utilities -- (3.0%) Other Securities................................... 64,711,193 3.2% -------------- ------ TOTAL COMMON STOCKS...................................... 1,984,834,680 99.6% -------------- ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 3,664 0.0% -------------- ------ TEMPORARY CASH INVESTMENTS -- (0.3%) State Street Institutional Liquid Reserves, 0.073%. 7,082,169 7,082,169 0.4% -------------- ------ Shares/ Face Amount ------- - - (000) SECURITIES LENDING COLLATERAL -- (6.0%) (S)@ DFA Short Term Investment Fund..................... 10,866,584 125,726,373 6.3% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $1,161,929,972)................................ $2,117,646,886 106.3% ============== ====== 17 TAX-MANAGED U.S. EQUITY PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): Investments in Securities (Market Value) -------------------------------------------------- Level 1 Level 2 Level 3 Total -------------- ------------ ------- -------------- Common Stocks Consumer Discretionary...... $ 273,154,591 -- -- $ 273,154,591 Consumer Staples............ 184,667,154 -- -- 184,667,154 Energy...................... 198,186,532 -- -- 198,186,532 Financials.................. 287,574,681 $ 154 -- 287,574,835 Health Care................. 254,936,624 2,258 -- 254,938,882 Industrials................. 235,925,800 -- -- 235,925,800 Information Technology...... 361,983,397 -- -- 361,983,397 Materials................... 77,654,853 -- -- 77,654,853 Other....................... -- 6 -- 6 Telecommunication Services.. 46,037,437 -- -- 46,037,437 Utilities................... 64,711,193 -- -- 64,711,193 Rights/Warrants............... -- 3,664 -- 3,664 Temporary Cash Investments.... 7,082,169 -- -- 7,082,169 Securities Lending Collateral. -- 125,726,373 -- 125,726,373 -------------- ------------ -- -------------- TOTAL......................... $1,991,914,431 $125,732,455 -- $2,117,646,886 ============== ============ == ============== See accompanying Notes to Financial Statements. 18 TAX-MANAGED U.S. TARGETED VALUE PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2013 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (89.5%) Consumer Discretionary -- (15.8%) #* Cabela's, Inc.......................... 228,775 $ 13,570,933 0.4% Dillard's, Inc. Class A................ 275,746 22,605,657 0.7% # GameStop Corp. Class A................. 431,501 23,654,885 0.7% Gannett Co., Inc....................... 412,001 11,400,068 0.4% #* Iconix Brand Group, Inc................ 357,800 12,913,002 0.4% # Lennar Corp. Class A................... 325,800 11,582,190 0.4% * Mohawk Industries, Inc................. 151,410 20,049,712 0.6% # Wendy's Co. (The)...................... 1,383,503 12,022,641 0.4% Whirlpool Corp......................... 80,175 11,706,352 0.4% Other Securities....................... 421,924,677 13.1% -------------- ------ Total Consumer Discretionary............... 561,430,117 17.5% -------------- ------ Consumer Staples -- (3.6%) * Constellation Brands, Inc. Class A..... 317,371 20,724,326 0.7% #* Hain Celestial Group, Inc. (The)....... 151,530 12,611,842 0.4% Other Securities....................... 94,919,679 2.9% -------------- ------ Total Consumer Staples..................... 128,255,847 4.0% -------------- ------ Energy -- (7.4%) Bristow Group, Inc..................... 174,943 14,077,663 0.4% * Helix Energy Solutions Group, Inc...... 562,740 13,314,428 0.4% Patterson-UTI Energy, Inc.............. 473,266 11,481,433 0.4% * Rowan Cos. P.L.C. Class A.............. 328,885 11,866,171 0.4% Tesoro Corp............................ 419,582 20,513,364 0.7% # Western Refining, Inc.................. 378,467 12,213,130 0.4% Other Securities....................... 179,921,430 5.5% -------------- ------ Total Energy............................... 263,387,619 8.2% -------------- ------ Financials -- (23.1%) Allied World Assurance Co. Holdings AG. 155,508 16,839,961 0.5% * American Capital, Ltd.................. 1,164,025 16,307,990 0.5% American Financial Group, Inc.......... 370,385 20,837,860 0.7% Assurant, Inc.......................... 331,133 19,364,658 0.6% Axis Capital Holdings, Ltd............. 302,382 14,338,954 0.5% CNO Financial Group, Inc............... 1,264,042 19,693,774 0.6% Endurance Specialty Holdings, Ltd...... 204,319 11,296,798 0.4% Everest Re Group, Ltd.................. 104,016 15,991,420 0.5% * Genworth Financial, Inc. Class A....... 923,584 13,419,676 0.4% # Legg Mason, Inc........................ 349,011 13,426,453 0.4% NASDAQ OMX Group, Inc. (The)........... 406,131 14,389,221 0.5% Old Republic International Corp........ 665,413 11,172,284 0.4% PartnerRe, Ltd......................... 163,753 16,409,688 0.5% Protective Life Corp................... 263,755 12,153,830 0.4% Reinsurance Group of America, Inc...... 235,808 16,784,813 0.5% Other Securities....................... 588,883,430 18.3% -------------- ------ Total Financials........................... 821,310,810 25.7% -------------- ------ Health Care -- (5.2%) * LifePoint Hospitals, Inc............... 217,915 11,253,131 0.4% Omnicare, Inc.......................... 312,425 17,230,239 0.5% #* ViroPharma, Inc........................ 339,632 13,184,514 0.4% Other Securities....................... 143,790,719 4.5% -------------- ------ Total Health Care.......................... 185,458,603 5.8% -------------- ------ 19 TAX-MANAGED U.S. TARGETED VALUE PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Industrials -- (14.3%) AMERCO............................................. 88,302 $ 17,830,823 0.6% * Avis Budget Group, Inc............................. 549,560 17,217,715 0.5% #* Owens Corning...................................... 367,806 13,215,270 0.4% Ryder System, Inc.................................. 233,530 15,373,280 0.5% # Trinity Industries, Inc............................ 277,414 14,045,471 0.4% URS Corp........................................... 209,771 11,373,784 0.4% Other Securities................................... 420,474,162 13.1% -------------- ------ Total Industrials........................................ 509,530,505 15.9% -------------- ------ Information Technology -- (11.7%) * Arrow Electronics, Inc............................. 351,633 16,885,417 0.5% * Ingram Micro, Inc. Class A......................... 553,452 12,823,483 0.4% * SYNNEX Corp........................................ 188,595 11,560,874 0.4% Other Securities................................... 373,676,729 11.7% -------------- ------ Total Information Technology............................. 414,946,503 13.0% -------------- ------ Materials -- (7.5%) Ashland, Inc....................................... 159,881 14,796,987 0.5% * Louisiana-Pacific Corp............................. 670,853 11,411,210 0.4% MeadWestvaco Corp.................................. 386,074 13,454,679 0.4% Reliance Steel & Aluminum Co....................... 200,657 14,706,152 0.5% Rock Tenn Co. Class A.............................. 149,967 16,047,969 0.5% Westlake Chemical Corp............................. 119,228 12,807,472 0.4% Other Securities................................... 182,356,496 5.6% -------------- ------ Total Materials.......................................... 265,580,965 8.3% -------------- ------ Other -- (0.0%) Other Securities................................... 294 0.0% -------------- ------ Telecommunication Services -- (0.6%) Other Securities................................... 22,046,157 0.7% -------------- ------ Utilities -- (0.3%) Other Securities................................... 11,438,856 0.3% -------------- ------ TOTAL COMMON STOCKS...................................... 3,183,386,276 99.4% -------------- ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 4,767 0.0% -------------- ------ TEMPORARY CASH INVESTMENTS -- (0.6%) State Street Institutional Liquid Reserves, 0.073%. 19,718,182 19,718,182 0.6% -------------- ------ Shares/ Face Amount ------- (000) SECURITIES LENDING COLLATERAL -- (9.9%) (S)@ DFA Short Term Investment Fund..................... 30,594,546 353,978,897 11.1% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $2,244,219,974)................................ $3,557,088,122 111.1% ============== ====== 20 TAX-MANAGED U.S. TARGETED VALUE PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): Investments in Securities (Market Value) -------------------------------------------------- Level 1 Level 2 Level 3 Total -------------- ------------ ------- -------------- Common Stocks Consumer Discretionary...... $ 561,430,117 -- -- $ 561,430,117 Consumer Staples............ 128,255,847 -- -- 128,255,847 Energy...................... 263,387,619 -- -- 263,387,619 Financials.................. 821,284,295 $ 26,515 -- 821,310,810 Health Care................. 185,295,114 163,489 -- 185,458,603 Industrials................. 509,403,403 127,102 -- 509,530,505 Information Technology...... 414,946,503 -- -- 414,946,503 Materials................... 265,580,965 -- -- 265,580,965 Other....................... -- 294 -- 294 Telecommunication Services.. 22,046,157 -- -- 22,046,157 Utilities................... 11,438,856 -- -- 11,438,856 Rights/Warrants............... -- 4,767 -- 4,767 Temporary Cash Investments.... 19,718,182 -- -- 19,718,182 Securities Lending Collateral. -- 353,978,897 -- 353,978,897 -------------- ------------ -- -------------- TOTAL......................... $3,202,787,058 $354,301,064 -- $3,557,088,122 ============== ============ == ============== See accompanying Notes to Financial Statements. 21 TAX-MANAGED U.S. SMALL CAP PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2013 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (83.5%) Consumer Discretionary -- (14.4%) #* Cabela's, Inc........................ 79,425 $ 4,711,491 0.3% #* Conn's, Inc.......................... 78,720 4,757,837 0.3% Domino's Pizza, Inc.................. 54,821 3,676,296 0.2% #* Iconix Brand Group, Inc.............. 102,033 3,682,371 0.2% * Krispy Kreme Doughnuts, Inc.......... 137,728 3,341,281 0.2% Lithia Motors, Inc. Class A 51,735 3,251,545 0.2% #* Lumber Liquidators Holdings, Inc..... 29,224 3,337,089 0.2% #* Saks, Inc............................ 221,647 3,544,136 0.2% Other Securities..................... 289,491,982 15.3% -------------- ------ Total Consumer Discretionary............. 319,794,028 17.1% -------------- ------ Consumer Staples -- (3.7%) * Prestige Brands Holdings, Inc........ 110,081 3,437,830 0.2% # Pricesmart, Inc...................... 28,537 3,247,225 0.2% Other Securities..................... 76,397,154 4.0% -------------- ------ Total Consumer Staples................... 83,082,209 4.4% -------------- ------ Energy -- (4.7%) Bristow Group, Inc. 53,346 4,292,753 0.2% * Hornbeck Offshore Services, Inc...... 59,921 3,311,834 0.2% # Western Refining, Inc................ 194,387 6,272,869 0.3% Other Securities..................... 89,915,310 4.8% -------------- ------ Total Energy............................. 103,792,766 5.5% -------------- ------ Financials -- (16.8%) #* Altisource Portfolio Solutions SA.... 21,934 3,449,780 0.2% # BancorpSouth, Inc.................... 148,561 3,283,198 0.2% CapitalSource, Inc................... 302,900 3,961,932 0.2% Cathay General Bancorp............... 161,692 3,982,474 0.2% CNO Financial Group, Inc............. 336,171 5,237,544 0.3% # Endurance Specialty Holdings, Ltd.... 63,590 3,515,891 0.2% First American Financial Corp........ 131,159 3,391,772 0.2% Platinum Underwriters Holdings, Ltd.. 54,370 3,381,270 0.2% * Portfolio Recovery Associates, Inc... 56,103 3,335,323 0.2% Primerica, Inc....................... 80,041 3,437,761 0.2% Radian Group, Inc.................... 324,032 4,721,146 0.3% StanCorp Financial Group, Inc........ 60,671 3,573,522 0.2% TCF Financial Corp................... 221,081 3,356,010 0.2% Washington Federal, Inc.............. 142,720 3,251,162 0.2% Webster Financial Corp............... 144,207 4,021,933 0.2% * Western Alliance Bancorp............. 158,880 3,360,312 0.2% Other Securities..................... 315,640,771 16.6% -------------- ------ Total Financials......................... 374,901,801 20.0% -------------- ------ Health Care -- (7.7%) #* Celldex Therapeutics, Inc............ 146,739 3,361,790 0.2% * Jazz Pharmaceuticals P.L.C........... 39,116 3,549,386 0.2% * Medicines Co. (The).................. 98,973 3,357,164 0.2% * Medidata Solutions, Inc.............. 49,170 5,423,943 0.3% #* ViroPharma, Inc...................... 115,735 4,492,833 0.2% Other Securities..................... 151,401,535 8.1% -------------- ------ Total Health Care........................ 171,586,651 9.2% -------------- ------ 22 TAX-MANAGED U.S. SMALL CAP PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Industrials -- (14.9%) AMERCO............................................. 25,259 $ 5,100,550 0.3% * Avis Budget Group, Inc............................. 130,275 4,081,516 0.2% #* Chart Industries, Inc.............................. 32,460 3,488,476 0.2% EnerSys, Inc....................................... 63,999 4,246,334 0.2% * Middleby Corp...................................... 16,509 3,758,274 0.2% * On Assignment, Inc................................. 101,799 3,439,788 0.2% Other Securities................................... 308,425,680 16.5% -------------- ------ Total Industrials........................................ 332,540,618 17.8% -------------- ------ Information Technology -- (14.3%) Convergys Corp..................................... 170,395 3,363,597 0.2% * CoStar Group, Inc.................................. 31,675 5,606,158 0.3% FEI Co............................................. 43,300 3,857,164 0.2% Mentor Graphics Corp............................... 201,941 4,458,857 0.2% * SYNNEX Corp........................................ 63,951 3,920,196 0.2% #* Tyler Technologies, Inc............................ 34,175 3,305,064 0.2% Other Securities................................... 292,980,285 15.6% -------------- ------ Total Information Technology............................. 317,491,321 16.9% -------------- ------ Materials -- (4.5%) Eagle Materials, Inc............................... 43,815 3,286,563 0.2% KapStone Paper and Packaging Corp.................. 76,202 3,959,456 0.2% PolyOne Corp....................................... 131,230 3,976,269 0.2% Worthington Industries, Inc........................ 82,330 3,337,658 0.2% Other Securities................................... 86,191,903 4.6% -------------- ------ Total Materials.......................................... 100,751,849 5.4% -------------- ------ Other -- (0.0%) Other Securities................................... 312 0.0% -------------- ------ Real Estate Investment Trusts -- (0.0%) Other Securities................................... 98,403 0.0% -------------- ------ Telecommunication Services -- (0.6%) Other Securities................................... 14,451,599 0.8% -------------- ------ Utilities -- (1.9%) Other Securities................................... 41,277,932 2.2% -------------- ------ TOTAL COMMON STOCKS...................................... 1,859,769,489 99.3% -------------- ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 40,954 0.0% -------------- ------ TEMPORARY CASH INVESTMENTS -- (0.6%) State Street Institutional Liquid Reserves, 0.073%. 14,259,652 14,259,652 0.8% -------------- ------ Shares/ Face Amount ------- (000) SECURITIES LENDING COLLATERAL -- (15.9%) (S)@ DFA Short Term Investment Fund..................... 30,591,167 353,939,799 18.9% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $1,383,695,646)................................ $2,228,009,894 119.0% ============== ====== 23 TAX-MANAGED U.S. SMALL CAP PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): Investments in Securities (Market Value) -------------------------------------------------- Level 1 Level 2 Level 3 Total -------------- ------------ ------- -------------- Common Stocks Consumer Discretionary........ $ 319,794,028 -- -- $ 319,794,028 Consumer Staples.............. 83,082,209 -- -- 83,082,209 Energy........................ 103,792,766 -- -- 103,792,766 Financials.................... 374,893,009 $ 8,792 -- 374,901,801 Health Care................... 171,527,461 59,190 -- 171,586,651 Industrials................... 332,524,999 15,619 -- 332,540,618 Information Technology........ 317,491,321 -- -- 317,491,321 Materials..................... 100,751,849 -- -- 100,751,849 Other......................... -- 312 -- 312 Real Estate Investment Trusts. 98,403 -- -- 98,403 Telecommunication Services.... 14,451,599 -- -- 14,451,599 Utilities..................... 41,277,932 -- -- 41,277,932 Rights/Warrants................. -- 40,954 -- 40,954 Temporary Cash Investments...... 14,259,652 -- -- 14,259,652 Securities Lending Collateral... -- 353,939,799 -- 353,939,799 -------------- ------------ -- -------------- TOTAL........................... $1,873,945,228 $354,064,666 -- $2,228,009,894 ============== ============ == ============== See accompanying Notes to Financial Statements. 24 T.A. U.S. CORE EQUITY 2 PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2013 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (90.3%) Consumer Discretionary -- (13.4%) CBS Corp. Class B...................... 191,185 $ 11,306,681 0.3% Comcast Corp. Class A.................. 456,217 21,706,805 0.5% Home Depot, Inc. (The)................. 144,802 11,278,628 0.3% * Liberty Media Corp. Class A............ 59,392 9,081,631 0.2% Lowe's Cos., Inc....................... 255,861 12,736,761 0.3% Time Warner Cable, Inc................. 88,298 10,609,005 0.3% Time Warner, Inc....................... 218,287 15,005,048 0.4% Twenty-First Century Fox, Inc. Class A. 376,280 12,823,622 0.3% Walt Disney Co. (The).................. 365,590 25,075,818 0.6% Other Securities....................... 479,825,576 11.7% -------------- ------ Total Consumer Discretionary............... 609,449,575 14.9% -------------- ------ Consumer Staples -- (5.4%) CVS Caremark Corp...................... 278,252 17,323,970 0.4% Mondelez International, Inc. Class A... 366,422 12,326,436 0.3% Procter & Gamble Co. (The)............. 274,994 22,205,765 0.5% Wal-Mart Stores, Inc................... 177,333 13,610,308 0.3% Walgreen Co............................ 179,862 10,655,025 0.3% Other Securities....................... 167,515,455 4.1% -------------- ------ Total Consumer Staples..................... 243,636,959 5.9% -------------- ------ Energy -- (10.5%) Anadarko Petroleum Corp................ 112,874 10,755,763 0.3% Chevron Corp........................... 448,961 53,857,362 1.3% ConocoPhillips......................... 271,234 19,881,452 0.5% EOG Resources, Inc..................... 59,768 10,662,611 0.3% Exxon Mobil Corp....................... 1,013,887 90,864,553 2.2% Occidental Petroleum Corp.............. 168,633 16,202,259 0.4% Schlumberger, Ltd...................... 125,663 11,777,136 0.3% Other Securities....................... 262,396,814 6.3% -------------- ------ Total Energy............................... 476,397,950 11.6% -------------- ------ Financials -- (17.9%) American International Group, Inc...... 308,768 15,947,867 0.4% Bank of America Corp................... 2,530,568 35,326,729 0.9% * Berkshire Hathaway, Inc. Class B....... 103,179 11,873,839 0.3% BlackRock, Inc......................... 30,175 9,076,942 0.2% Citigroup, Inc......................... 714,959 34,875,700 0.9% Goldman Sachs Group, Inc. (The)........ 93,740 15,079,016 0.4% JPMorgan Chase & Co.................... 899,039 46,336,470 1.1% MetLife, Inc........................... 216,234 10,230,031 0.3% U.S. Bancorp........................... 375,974 14,046,389 0.4% Wells Fargo & Co....................... 1,191,695 50,873,460 1.2% Other Securities....................... 569,608,139 13.7% -------------- ------ Total Financials........................... 813,274,582 19.8% -------------- ------ Health Care -- (9.7%) Amgen, Inc............................. 85,813 9,954,308 0.3% * Express Scripts Holding Co............. 153,147 9,574,750 0.2% Johnson & Johnson...................... 181,710 16,828,163 0.4% Merck & Co., Inc....................... 589,040 26,559,814 0.7% Pfizer, Inc............................ 1,450,953 44,515,238 1.1% UnitedHealth Group, Inc................ 207,981 14,196,783 0.4% 25 T.A. U.S. CORE EQUITY 2 PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Health Care -- (Continued) Zoetis, Inc........................................ 386,123 $ 12,224,654 0.3% Other Securities................................... 305,789,187 7.3% -------------- ------ Total Health Care........................................ 439,642,897 10.7% -------------- ------ Industrials -- (12.4%) General Electric Co................................ 2,413,819 63,097,229 1.5% Union Pacific Corp................................. 104,921 15,885,039 0.4% Other Securities................................... 480,623,423 11.7% -------------- ------ Total Industrials........................................ 559,605,691 13.6% -------------- ------ Information Technology -- (12.4%) Apple, Inc......................................... 43,475 22,709,166 0.6% Cisco Systems, Inc................................. 1,252,046 28,171,035 0.7% EMC Corp........................................... 363,999 8,761,456 0.2% * Google, Inc. Class A............................... 11,628 11,983,584 0.3% Intel Corp......................................... 1,131,618 27,645,428 0.7% Microsoft Corp..................................... 327,024 11,560,298 0.3% Visa, Inc. Class A................................. 97,604 19,195,779 0.5% Other Securities................................... 432,423,976 10.4% -------------- ------ Total Information Technology............................. 562,450,722 13.7% -------------- ------ Materials -- (4.4%) Dow Chemical Co. (The)............................. 264,593 10,443,486 0.3% Other Securities................................... 189,858,935 4.6% -------------- ------ Total Materials.......................................... 200,302,421 4.9% -------------- ------ Other -- (0.0%) Other Securities................................... -- 0.0% -------------- ------ Telecommunication Services -- (2.3%) AT&T, Inc.......................................... 1,265,775 45,821,055 1.1% Verizon Communications, Inc........................ 630,811 31,862,264 0.8% Other Securities................................... 27,745,224 0.7% -------------- ------ Total Telecommunication Services......................... 105,428,543 2.6% -------------- ------ Utilities -- (1.9%) Other Securities................................... 84,615,846 2.1% -------------- ------ TOTAL COMMON STOCKS...................................... 4,094,805,186 99.8% -------------- ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 123,997 0.0% -------------- ------ TEMPORARY CASH INVESTMENTS -- (0.3%) State Street Institutional Liquid Reserves, 0.073%. 13,720,683 13,720,683 0.3% -------------- ------ Shares/ Face Amount ------- - - (000) SECURITIES LENDING COLLATERAL -- (9.4%) (S)@ DFA Short Term Investment Fund..................... 36,830,820 426,132,583 10.4% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $2,933,839,227)................................ $4,534,782,449 110.5% ============== ====== 26 T.A. U.S. CORE EQUITY 2 PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): Investments in Securities (Market Value) -------------------------------------------------- Level 1 Level 2 Level 3 Total -------------- ------------ ------- -------------- Common Stocks Consumer Discretionary...... $ 609,449,575 -- -- $ 609,449,575 Consumer Staples............ 243,636,959 -- -- 243,636,959 Energy...................... 476,397,950 -- -- 476,397,950 Financials.................. 813,273,656 $ 926 -- 813,274,582 Health Care................. 439,628,629 14,268 -- 439,642,897 Industrials................. 559,590,881 14,810 -- 559,605,691 Information Technology...... 562,450,722 -- -- 562,450,722 Materials................... 200,302,421 -- -- 200,302,421 Other....................... -- -- -- -- Telecommunication Services.. 105,428,543 -- -- 105,428,543 Utilities................... 84,615,846 -- -- 84,615,846 Rights/Warrants -- 123,997 -- 123,997 Temporary Cash Investments.... 13,720,683 -- -- 13,720,683 Securities Lending Collateral. -- 426,132,583 -- 426,132,583 -------------- ------------ -- -------------- TOTAL......................... $4,108,495,865 $426,286,584 -- $4,534,782,449 ============== ============ == ============== See accompanying Notes to Financial Statements. 27 TAX-MANAGED DFA INTERNATIONAL VALUE PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2013 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (98.2%) AUSTRALIA -- (5.3%) Wesfarmers, Ltd.................. 941,613 $ 38,209,661 1.4% Other Securities................. 109,526,121 4.0% -------------- ------ TOTAL AUSTRALIA...................... 147,735,782 5.4% -------------- ------ AUSTRIA -- (0.2%) Other Securities................. 6,765,880 0.2% -------------- ------ BELGIUM -- (1.3%) Other Securities................. 35,286,812 1.3% -------------- ------ CANADA -- (9.2%) Magna International, Inc......... 204,038 17,281,538 0.6% Manulife Financial Corp.......... 1,384,267 24,521,567 0.9% Sun Life Financial, Inc.......... 494,520 16,657,116 0.6% Suncor Energy, Inc............... 1,078,999 39,210,926 1.4% Other Securities................. 159,426,995 5.8% -------------- ------ TOTAL CANADA......................... 257,098,142 9.3% -------------- ------ DENMARK -- (1.4%) Other Securities................. 39,236,635 1.4% -------------- ------ FINLAND -- (1.0%) Other Securities................. 28,421,390 1.0% -------------- ------ FRANCE -- (10.5%) AXA SA........................... 987,329 24,599,729 0.9% BNP Paribas SA................... 652,618 48,145,678 1.8% Cie de St-Gobain................. 292,647 15,361,056 0.6% GDF Suez......................... 1,112,207 27,564,674 1.0% Orange........................... 1,431,646 19,679,515 0.7% Societe Generale SA.............. 577,609 32,628,846 1.2% Vivendi SA....................... 1,017,849 25,771,646 0.9% Other Securities................. 98,832,313 3.5% -------------- ------ TOTAL FRANCE......................... 292,583,457 10.6% -------------- ------ GERMANY -- (8.9%) Allianz SE....................... 122,653 20,593,722 0.7% Bayerische Motoren Werke AG...... 219,992 24,898,348 0.9% Daimler AG....................... 692,538 56,701,391 2.1% Deutsche Bank AG................. 333,752 16,126,897 0.6% Deutsche Telekom AG.............. 991,879 15,587,087 0.6% E.ON SE.......................... 1,187,081 21,638,694 0.8% Muenchener Rueckversicherungs AG. 112,068 23,381,001 0.9% Other Securities................. 69,056,550 2.4% -------------- ------ TOTAL GERMANY........................ 247,983,690 9.0% -------------- ------ GREECE -- (0.0%) Other Securities................. 1,085,945 0.0% -------------- ------ HONG KONG -- (2.4%) Hutchison Whampoa, Ltd........... 1,722,000 21,446,159 0.8% Other Securities................. 45,696,423 1.6% -------------- ------ TOTAL HONG KONG...................... 67,142,582 2.4% -------------- ------ 28 TAX-MANAGED DFA INTERNATIONAL VALUE PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- IRELAND -- (0.1%) Other Securities........................ $ 1,940,229 0.1% -------------- ------ ISRAEL -- (0.3%) Other Securities........................ 7,761,433 0.3% -------------- ------ ITALY -- (1.4%) UniCredit SpA........................... 2,940,970 22,076,644 0.8% Other Securities........................ 15,885,392 0.6% -------------- ------ TOTAL ITALY................................. 37,962,036 1.4% -------------- ------ JAPAN -- (19.7%) Mitsubishi Corp......................... 1,136,600 22,994,616 0.8% Mitsubishi UFJ Financial Group, Inc..... 7,531,834 47,964,701 1.7% Mitsui & Co., Ltd....................... 1,287,200 18,388,840 0.7% Nippon Steel & Sumitomo Metal Corp...... 6,077,000 20,057,455 0.7% NTT DOCOMO, Inc......................... 1,212,400 19,234,755 0.7% Sumitomo Mitsui Financial Group, Inc.... 458,527 22,163,302 0.8% Other Securities........................ 400,270,038 14.6% -------------- ------ TOTAL JAPAN................................. 551,073,707 20.0% -------------- ------ NETHERLANDS -- (3.4%) * ING Groep NV............................ 1,578,512 20,059,269 0.7% Koninklijke Philips NV.................. 429,882 15,192,330 0.6% Other Securities........................ 58,964,640 2.1% -------------- ------ TOTAL NETHERLANDS........................... 94,216,239 3.4% -------------- ------ NEW ZEALAND -- (0.1%) Other Securities........................ 1,811,681 0.1% -------------- ------ NORWAY -- (0.8%) Other Securities........................ 21,167,066 0.8% -------------- ------ PORTUGAL -- (0.1%) Other Securities........................ 2,054,929 0.1% -------------- ------ SINGAPORE -- (1.0%) Other Securities........................ 28,475,164 1.0% -------------- ------ SPAIN -- (2.2%) Banco Santander SA...................... 2,092,020 18,546,306 0.7% Iberdrola SA............................ 3,061,217 19,214,785 0.7% Other Securities........................ 24,770,985 0.9% -------------- ------ TOTAL SPAIN................................. 62,532,076 2.3% -------------- ------ SWEDEN -- (3.0%) Nordea Bank AB.......................... 1,822,627 23,314,148 0.9% Telefonaktiebolaget LM Ericsson Class B. 1,777,471 21,260,711 0.8% Other Securities........................ 39,198,868 1.3% -------------- ------ TOTAL SWEDEN................................ 83,773,727 3.0% -------------- ------ SWITZERLAND -- (7.5%) Credit Suisse Group AG.................. 941,145 29,277,086 1.1% Holcim, Ltd............................. 241,079 17,931,322 0.7% Novartis AG ADR......................... 189,650 14,707,357 0.5% 29 TAX-MANAGED DFA INTERNATIONAL VALUE PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- SWITZERLAND -- (Continued) Swiss Re AG.................................................... 358,123 $ 31,436,971 1.1% UBS AG......................................................... 2,189,793 42,352,921 1.5% Zurich Insurance Group AG...................................... 98,396 27,189,098 1.0% Other Securities............................................... 47,688,171 1.7% -------------- ------ TOTAL SWITZERLAND.................................................... 210,582,926 7.6% -------------- ------ UNITED KINGDOM -- (18.4%) Barclays P.L.C................................................. 4,340,155 18,261,024 0.7% Barclays P.L.C. Sponsored ADR.................................. 1,825,842 30,692,404 1.1% BP P.L.C. Sponsored ADR........................................ 2,093,646 97,354,538 3.5% Glencore Xstrata P.L.C......................................... 4,609,215 25,084,350 0.9% HSBC Holdings P.L.C. Sponsored ADR............................. 392,093 21,580,799 0.8% Kingfisher P.L.C............................................... 2,319,541 14,031,930 0.5% * Lloyds Banking Group P.L.C..................................... 30,279,179 37,449,180 1.4% Royal Dutch Shell P.L.C. ADR(780259107)........................ 943,951 65,623,474 2.4% Royal Dutch Shell P.L.C. ADR(780259206)........................ 279,594 18,637,736 0.7% Vodafone Group P.L.C........................................... 14,789,930 54,171,920 2.0% Vodafone Group P.L.C. Sponsored ADR............................ 864,614 31,835,088 1.2% Other Securities............................................... 100,422,461 3.5% -------------- ------ TOTAL UNITED KINGDOM................................................. 515,144,904 18.7% -------------- ------ TOTAL COMMON STOCKS.................................................. 2,741,836,432 99.4% -------------- ------ PREFERRED STOCKS -- (0.1%) GERMANY -- (0.1%) Other Securities............................................... 4,318,851 0.1% -------------- ------ RIGHTS/WARRANTS -- (0.0%) HONG KONG -- (0.0%) Other Securities............................................... -- 0.0% -------------- ------ SPAIN -- (0.0%) Other Securities............................................... 451,630 0.0% -------------- ------ TOTAL RIGHTS/WARRANTS................................................ 451,630 0.0% -------------- ------ Shares/ Face Amount Value+ ------- ------ - (000) SECURITIES LENDING COLLATERAL -- (1.7%) (S)@ DFA Short Term Investment Fund................................. 3,975,799 46,000,000 1.7% @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $284,398 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $257,187) to be repurchased at $252,145...................................................... $252 252,144 0.0% -------------- ------ TOTAL SECURITIES LENDING COLLATERAL.................................. 46,252,144 1.7% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $2,389,651,236)............................................ $2,792,859,057 101.2% ============== ====== 30 TAX-MANAGED DFA INTERNATIONAL VALUE PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): Investments in Securities (Market Value) -------------------------------------------------- Level 1 Level 2 Level 3 Total ------------ -------------- ------- -------------- Common Stocks Australia................... $ 221,914 $ 147,513,868 -- $ 147,735,782 Austria..................... -- 6,765,880 -- 6,765,880 Belgium..................... 677,764 34,609,048 -- 35,286,812 Canada...................... 257,098,142 -- -- 257,098,142 Denmark..................... -- 39,236,635 -- 39,236,635 Finland..................... -- 28,421,390 -- 28,421,390 France...................... 10,518,619 282,064,838 -- 292,583,457 Germany..................... 38,944,800 209,038,890 -- 247,983,690 Greece...................... -- 1,085,945 -- 1,085,945 Hong Kong................... -- 67,142,582 -- 67,142,582 Ireland..................... 666,898 1,273,331 -- 1,940,229 Israel...................... -- 7,761,433 -- 7,761,433 Italy....................... 1,877,346 36,084,690 -- 37,962,036 Japan....................... 24,187,797 526,885,910 -- 551,073,707 Netherlands................. 2,643,343 91,572,896 -- 94,216,239 New Zealand................. -- 1,811,681 -- 1,811,681 Norway...................... -- 21,167,066 -- 21,167,066 Portugal.................... -- 2,054,929 -- 2,054,929 Singapore................... -- 28,475,164 -- 28,475,164 Spain....................... 15,699 62,516,377 -- 62,532,076 Sweden...................... 1,622,691 82,151,036 -- 83,773,727 Switzerland................. 24,297,302 186,285,624 -- 210,582,926 United Kingdom.............. 280,487,386 234,657,518 -- 515,144,904 Preferred Stocks Germany..................... -- 4,318,851 -- 4,318,851 Rights/Warrants Hong Kong................... -- -- -- -- Spain....................... -- 451,630 -- 451,630 Securities Lending Collateral. -- 46,252,144 -- 46,252,144 ------------ -------------- -- -------------- TOTAL......................... $643,259,701 $2,149,599,356 -- $2,792,859,057 ============ ============== == ============== See accompanying Notes to Financial Statements. 31 T.A. WORLD EX U.S. CORE EQUITY PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2013 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (96.9%) AUSTRALIA -- (4.8%) Australia & New Zealand Banking Group, Ltd.......... 144,308 $ 4,617,907 0.3% Commonwealth Bank of Australia...................... 51,776 3,728,002 0.2% National Australia Bank, Ltd........................ 143,856 4,807,788 0.3% Wesfarmers, Ltd..................................... 75,215 3,052,145 0.2% Westpac Banking Corp................................ 163,386 5,304,677 0.3% Other Securities.................................... 62,864,803 3.6% -------------- ------ TOTAL AUSTRALIA......................................... 84,375,322 4.9% -------------- ------ AUSTRIA -- (0.4%) Other Securities.................................... 6,835,247 0.4% -------------- ------ BELGIUM -- (1.0%) Other Securities.................................... 17,765,309 1.0% -------------- ------ BRAZIL -- (2.0%) Other Securities.................................... 35,418,041 2.1% -------------- ------ CANADA -- (6.7%) Bank of Montreal.................................... 41,930 2,920,401 0.2% Magna International, Inc............................ 34,872 2,953,576 0.2% Royal Bank of Canada................................ 55,774 3,745,548 0.2% Suncor Energy, Inc.................................. 99,388 3,611,769 0.2% Toronto-Dominion Bank (The)......................... 55,000 5,045,029 0.3% Other Securities.................................... 99,401,265 5.7% -------------- ------ TOTAL CANADA............................................ 117,677,588 6.8% -------------- ------ CHILE -- (0.3%) Other Securities.................................... 5,772,885 0.3% -------------- ------ CHINA -- (4.5%) China Construction Bank Corp. Class H............... 5,410,200 4,209,279 0.3% Industrial & Commercial Bank of China, Ltd. Class H. 4,661,460 3,261,787 0.2% Other Securities.................................... 71,384,505 4.1% -------------- ------ TOTAL CHINA............................................. 78,855,571 4.6% -------------- ------ COLOMBIA -- (0.1%) Other Securities.................................... 1,334,478 0.1% -------------- ------ CZECH REPUBLIC -- (0.1%) Other Securities.................................... 1,339,212 0.1% -------------- ------ DENMARK -- (0.9%) Other Securities.................................... 16,370,032 1.0% -------------- ------ EGYPT -- (0.0%) Other Securities.................................... 87,271 0.0% -------------- ------ FINLAND -- (1.2%) * Nokia Oyj........................................... 490,765 3,730,196 0.2% Other Securities.................................... 17,684,237 1.0% -------------- ------ TOTAL FINLAND........................................... 21,414,433 1.2% -------------- ------ 32 T.A. WORLD EX U.S. CORE EQUITY PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- FRANCE -- (5.8%) BNP Paribas SA........................ 77,818 $ 5,740,878 0.3% Cie de St-Gobain...................... 60,070 3,153,077 0.2% Sanofi................................ 41,470 4,421,661 0.3% Societe Generale SA................... 80,296 4,535,881 0.3% Total SA Sponsored ADR................ 85,482 5,229,789 0.3% Other Securities...................... 78,856,152 4.5% -------------- ------ TOTAL FRANCE.............................. 101,937,438 5.9% -------------- ------ GERMANY -- (4.8%) Allianz SE............................ 29,381 4,933,138 0.3% Daimler AG............................ 65,320 5,348,060 0.3% Deutsche Bank AG...................... 69,178 3,342,681 0.2% Deutsche Post AG...................... 93,390 3,153,909 0.2% Muenchener Rueckversicherungs AG...... 13,745 2,867,650 0.2% Siemens AG Sponsored ADR.............. 26,107 3,341,957 0.2% Other Securities...................... 62,410,829 3.6% -------------- ------ TOTAL GERMANY............................. 85,398,224 5.0% -------------- ------ GREECE -- (0.2%) Other Securities...................... 3,700,339 0.2% -------------- ------ HONG KONG -- (1.9%) Other Securities...................... 33,334,573 1.9% -------------- ------ HUNGARY -- (0.1%) Other Securities...................... 1,082,763 0.1% -------------- ------ INDIA -- (1.3%) Other Securities...................... 23,751,515 1.4% -------------- ------ INDONESIA -- (0.6%) Other Securities...................... 10,403,387 0.6% -------------- ------ IRELAND -- (0.4%) Other Securities...................... 7,342,601 0.4% -------------- ------ ISRAEL -- (0.5%) Other Securities...................... 8,640,465 0.5% -------------- ------ ITALY -- (1.8%) Other Securities...................... 31,020,692 1.8% -------------- ------ JAPAN -- (15.5%) Mitsubishi UFJ Financial Group, Inc... 577,500 3,677,672 0.2% Mizuho Financial Group, Inc........... 1,822,055 3,824,606 0.2% Sumitomo Mitsui Financial Group, Inc.. 96,683 4,673,257 0.3% Toyota Motor Corp. Sponsored ADR...... 50,053 6,477,859 0.4% Other Securities...................... 254,359,899 14.7% -------------- ------ TOTAL JAPAN............................... 273,013,293 15.8% -------------- ------ MALAYSIA -- (0.9%) Other Securities...................... 15,692,494 0.9% -------------- ------ MEXICO -- (1.2%) Other Securities...................... 21,574,305 1.3% -------------- ------ 33 T.A. WORLD EX U.S. CORE EQUITY PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- NETHERLANDS -- (2.0%) #* ING Groep NV Sponsored ADR.... 263,004 $ 3,345,411 0.2% Other Securities.............. 31,869,838 1.8% -------------- ------ TOTAL NETHERLANDS................. 35,215,249 2.0% -------------- ------ NEW ZEALAND -- (0.2%) Other Securities.............. 4,009,743 0.2% -------------- ------ NORWAY -- (0.8%) Other Securities.............. 13,715,031 0.8% -------------- ------ PERU -- (0.0%) Other Securities.............. 459,805 0.0% -------------- ------ PHILIPPINES -- (0.4%) Other Securities.............. 7,262,352 0.4% -------------- ------ POLAND -- (0.4%) Other Securities.............. 7,028,515 0.4% -------------- ------ PORTUGAL -- (0.2%) Other Securities.............. 4,147,531 0.2% -------------- ------ RUSSIA -- (0.6%) Gazprom OAO Sponsored ADR..... 488,525 4,566,439 0.3% Other Securities.............. 5,580,884 0.3% -------------- ------ TOTAL RUSSIA...................... 10,147,323 0.6% -------------- ------ SINGAPORE -- (1.1%) Other Securities.............. 18,756,552 1.1% -------------- ------ SOUTH AFRICA -- (1.5%) Other Securities.............. 26,309,980 1.5% -------------- ------ SOUTH KOREA -- (4.0%) Samsung Electronics Co., Ltd.. 4,072 5,615,515 0.3% Other Securities.............. 64,725,260 3.8% -------------- ------ TOTAL SOUTH KOREA................. 70,340,775 4.1% -------------- ------ SPAIN -- (1.9%) Banco Santander SA............ 721,555 6,396,774 0.4% Other Securities.............. 27,619,419 1.6% -------------- ------ TOTAL SPAIN....................... 34,016,193 2.0% -------------- ------ SWEDEN -- (2.3%) Other Securities.............. 41,173,627 2.4% -------------- ------ SWITZERLAND -- (5.2%) ABB, Ltd...................... 141,970 3,617,048 0.2% Credit Suisse Group AG........ 133,018 4,137,916 0.3% Nestle SA..................... 91,582 6,610,747 0.4% Novartis AG ADR............... 117,451 9,108,325 0.5% Swiss Re AG................... 51,583 4,528,090 0.3% UBS AG........................ 159,324 3,084,513 0.2% Zurich Insurance Group AG..... 21,258 5,874,079 0.4% Other Securities.............. 55,280,180 3.0% -------------- ------ TOTAL SWITZERLAND................. 92,240,898 5.3% -------------- ------ 34 T.A. WORLD EX U.S. CORE EQUITY PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- TAIWAN -- (3.5%) Other Securities.................... $ 62,510,386 3.6% -------------- ------ THAILAND -- (0.8%) Other Securities.................... 13,197,540 0.8% -------------- ------ TURKEY -- (0.4%) Other Securities.................... 7,795,905 0.5% -------------- ------ UNITED KINGDOM -- (14.6%) Anglo American P.L.C................ 139,168 3,308,938 0.2% BG Group P.L.C...................... 194,720 3,972,223 0.2% BP P.L.C. Sponsored ADR............. 247,664 11,516,376 0.7% Glencore Xstrata P.L.C.............. 553,539 3,012,480 0.2% HSBC Holdings P.L.C................. 344,422 3,775,326 0.2% HSBC Holdings P.L.C. Sponsored ADR.. 225,098 12,389,394 0.7% Legal & General Group P.L.C......... 989,741 3,430,251 0.2% Royal Dutch Shell P.L.C. ADR........ 185,909 12,924,394 0.8% Standard Chartered P.L.C............ 170,094 4,083,954 0.2% Tesco P.L.C......................... 713,147 4,159,884 0.3% Vodafone Group P.L.C. Sponsored ADR. 343,133 12,634,157 0.7% Other Securities.................... 182,610,647 10.5% -------------- ------ TOTAL UNITED KINGDOM.................... 257,818,024 14.9% -------------- ------ UNITED STATES -- (0.0%) Other Securities.................... 41,398 0.0% -------------- ------ TOTAL COMMON STOCKS..................... 1,710,324,305 99.1% -------------- ------ PREFERRED STOCKS -- (0.4%) BRAZIL -- (0.3%) Other Securities.................... 6,277,338 0.4% -------------- ------ CHILE -- (0.0%) Other Securities.................... 100,652 0.0% -------------- ------ COLOMBIA -- (0.0%) Other Securities.................... 88,953 0.0% -------------- ------ GERMANY -- (0.1%) Other Securities.................... 1,136,859 0.1% -------------- ------ UNITED KINGDOM -- (0.0%) Other Securities.................... 17,591 0.0% -------------- ------ TOTAL PREFERRED STOCKS.................. 7,621,393 0.5% -------------- ------ RIGHTS/WARRANTS -- (0.0%) AUSTRIA -- (0.0%) Other Securities.................... -- 0.0% -------------- ------ BRAZIL -- (0.0%) Other Securities.................... -- 0.0% -------------- ------ CHILE -- (0.0%) Other Securities.................... 1 0.0% -------------- ------ FRANCE -- (0.0%) Other Securities.................... 13 0.0% -------------- ------ 35 T.A. WORLD EX U.S. CORE EQUITY PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- HONG KONG -- (0.0%) Other Securities................................................. $ -- 0.0% -------------- ------ ITALY -- (0.0%) Other Securities................................................. 1,564 0.0% -------------- ------ MALAYSIA -- (0.0%) Other Securities................................................. 9,410 0.0% -------------- ------ POLAND -- (0.0%) Other Securities................................................. -- 0.0% -------------- ------ SOUTH KOREA -- (0.0%) Other Securities................................................. 870 0.0% -------------- ------ SPAIN -- (0.0%) Other Securities................................................. 155,771 0.0% -------------- ------ TOTAL RIGHTS/WARRANTS.................................................. 167,629 0.0% -------------- ------ Shares/ Face Amount Value+ ------- ------ - (000) SECURITIES LENDING COLLATERAL -- (2.7%) (S)@ DFA Short Term Investment Fund................................... 4,062,230 47,000,000 2.7% @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $216,509 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $195,793) to be repurchased at $191,955............... $192 191,954 0.0% -------------- ------ TOTAL SECURITIES LENDING COLLATERAL.................................... 47,191,954 2.7% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $1,387,803,928).............................................. $1,765,305,281 102.3% ============== ====== Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): Investments in Securities (Market Value) --------------------------------------------- Level 1 Level 2 Level 3 Total ------------ ----------- ------- ------------ Common Stocks Australia...... $ 1,966,491 $82,408,831 -- $ 84,375,322 Austria........ -- 6,835,247 -- 6,835,247 Belgium........ 2,169,033 15,596,276 -- 17,765,309 Brazil......... 16,555,113 18,862,928 -- 35,418,041 Canada......... 117,669,543 8,045 -- 117,677,588 Chile.......... 1,435,140 4,337,745 -- 5,772,885 China.......... 7,925,863 70,929,708 -- 78,855,571 Colombia....... 1,334,478 -- -- 1,334,478 Czech Republic. -- 1,339,212 -- 1,339,212 Denmark........ 694,014 15,676,018 -- 16,370,032 Egypt.......... -- 87,271 -- 87,271 Finland........ 242,717 21,171,716 -- 21,414,433 France......... 10,665,952 91,271,486 -- 101,937,438 Germany........ 11,204,795 74,193,429 -- 85,398,224 Greece......... 54,105 3,646,234 -- 3,700,339 36 T.A. WORLD EX U.S. CORE EQUITY PORTFOLIO CONTINUED Investments in Securities (Market Value) -------------------------------------------------- Level 1 Level 2 Level 3 Total ------------ -------------- ------- -------------- Common Stocks (Countinued) Hong Kong................... $ 144,928 $ 33,189,645 -- $ 33,334,573 Hungary..................... 28,661 1,054,102 -- 1,082,763 India....................... 1,250,571 22,500,944 -- 23,751,515 Indonesia................... 238,932 10,164,455 -- 10,403,387 Ireland..................... 1,725,725 5,616,876 -- 7,342,601 Israel...................... 2,072,233 6,568,232 -- 8,640,465 Italy....................... 3,204,195 27,816,497 -- 31,020,692 Japan....................... 18,416,199 254,597,094 -- 273,013,293 Malaysia.................... -- 15,692,494 -- 15,692,494 Mexico...................... 21,570,367 3,938 -- 21,574,305 Netherlands................. 10,020,485 25,194,764 -- 35,215,249 New Zealand................. 23,773 3,985,970 -- 4,009,743 Norway...................... 1,387,180 12,327,851 -- 13,715,031 Peru........................ 459,805 -- -- 459,805 Philippines................. 66,150 7,196,202 -- 7,262,352 Poland...................... 9,549 7,018,966 -- 7,028,515 Portugal.................... -- 4,147,531 -- 4,147,531 Russia...................... 429,095 9,718,228 -- 10,147,323 Singapore................... -- 18,756,552 -- 18,756,552 South Africa................ 3,051,557 23,258,423 -- 26,309,980 South Korea................. 4,651,745 65,689,030 -- 70,340,775 Spain....................... 5,259,553 28,756,640 -- 34,016,193 Sweden...................... 1,103,572 40,070,055 -- 41,173,627 Switzerland................. 17,548,266 74,692,632 -- 92,240,898 Taiwan...................... 479,374 62,031,012 -- 62,510,386 Thailand.................... 13,197,540 -- -- 13,197,540 Turkey...................... 143,215 7,652,690 -- 7,795,905 United Kingdom.............. 76,821,313 180,996,711 -- 257,818,024 United States............... 41,398 -- -- 41,398 Preferred Stocks Brazil...................... 53,481 6,223,857 -- 6,277,338 Chile....................... -- 100,652 -- 100,652 Colombia.................... 88,953 -- -- 88,953 Germany..................... -- 1,136,859 -- 1,136,859 United Kingdom.............. -- 17,591 -- 17,591 Rights/Warrants Austria..................... -- -- -- -- Brazil...................... -- -- -- -- Chile....................... -- 1 -- 1 France...................... -- 13 -- 13 Hong Kong................... -- -- -- -- Italy....................... -- 1,564 -- 1,564 Malaysia.................... -- 9,410 -- 9,410 Poland...................... -- -- -- -- South Korea................. -- 870 -- 870 Spain....................... -- 155,771 -- 155,771 Securities Lending Collateral. -- 47,191,954 -- 47,191,954 ------------ -------------- -- -------------- TOTAL......................... $355,405,059 $1,409,900,222 -- $1,765,305,281 ============ ============== == ============== See accompanying Notes to Financial Statements. 37 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (Amounts in thousands, except share and per share amounts) Tax-Managed U.S. Tax-Managed Tax-Managed Tax-Managed Marketwide U.S. Equity U.S. Targeted U.S. Small Value Portfolio Portfolio Value Portfolio Cap Portfolio --------------- ------------ --------------- ------------- ASSETS: Investments in Affiliated Investment Company at Value....... $ 3,110,170 -- -- -- Investments at Value (including $0, $122,328, $343,516 and $342,267 of securities on loan, respectively).......... -- $ 1,984,839 $ 3,183,391 $ 1,859,810 Temporary Cash Investments at Value & Cost.................. -- 7,082 19,718 14,260 Collateral from Securities on Loan Invested in Affiliate at Value & Cost............................................... -- 125,726 353,979 353,940 Cash........................................................ -- 55 566 289 Receivables: Investment Securities/Affiliated Investment Company Sold..................................................... -- -- 519 217 Dividends, Interest and Tax Reclaims...................... -- 1,735 867 593 Securities Lending Income................................. -- 35 124 186 Fund Shares Sold.......................................... 2,189 924 1,058 1,221 Prepaid Expenses and Other Assets........................... 29 31 33 25 ------------ ------------ ------------ ------------ Total Assets........................................... 3,112,388 2,120,427 3,560,255 2,230,541 ------------ ------------ ------------ ------------ LIABILITIES: Payables: Upon Return of Securities Loaned.......................... -- 125,726 353,979 353,940 Investment Securities/Affiliated Investment Company Purchased................................................ -- 1,434 2,926 2,152 Fund Shares Redeemed...................................... 1,448 1,311 935 583 Due to Advisor............................................ 387 290 1,121 783 Accrued Expenses and Other Liabilities...................... 117 205 241 148 ------------ ------------ ------------ ------------ Total Liabilities...................................... 1,952 128,966 359,202 357,606 ------------ ------------ ------------ ------------ NET ASSETS.................................................. $ 3,110,436 $ 1,991,461 $ 3,201,053 $ 1,872,935 ============ ============ ============ ============ SHARES OUTSTANDING, $0.01 PAR VALUE (1)..................... 139,191,871 103,700,101 103,046,047 54,594,920 ============ ============ ============ ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE............................................ $ 22.35 $ 19.20 $ 31.06 $ 34.31 ============ ============ ============ ============ Investments in Affiliated Investment Company at Cost........ $ 1,838,617 $ -- $ -- $ -- ------------ ------------ ------------ ------------ Investments at Cost......................................... $ -- $ 1,029,122 $ 1,870,523 $ 1,015,496 ============ ============ ============ ============ NET ASSETS CONSIST OF: Paid-In Capital............................................. $ 1,945,576 $ 1,425,314 $ 1,800,153 $ 1,028,160 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)........................... 6,707 4,207 4,769 2,335 Accumulated Net Realized Gain (Loss)........................ (113,400) (393,777) 83,263 (1,874) Net Unrealized Appreciation (Depreciation).................. 1,271,553 955,717 1,312,868 844,314 ------------ ------------ ------------ ------------ NET ASSETS.................................................. $ 3,110,436 $ 1,991,461 $ 3,201,053 $ 1,872,935 ============ ============ ============ ============ (1) NUMBER OF SHARES AUTHORIZED............................. 700,000,000 500,000,000 700,000,000 500,000,000 ============ ============ ============ ============ See accompanying Notes to Financial Statements. 38 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (Amounts in thousands, except share and per share amounts) Tax-Managed T.A. World ex T.A. U.S. Core DFA U.S. Core Equity 2 International Equity Portfolio Value Portfolio Portfolio* -------------- --------------- ------------- ASSETS: Investments at Value (including $414,042, $43,159 and $44,960 of securities on loan, respectively)....................................... $ 4,094,929 $ 2,746,607 $ 1,718,113 Temporary Cash Investments at Value & Cost............................... 13,721 -- -- Collateral Received from Securities on Loan at Value & Cost.............. -- 252 192 Collateral from Securities on Loan Invested in Affiliate at Value & Cost. 426,133 46,000 47,000 Foreign Currencies at Value.............................................. -- 3,039 3,014 Cash..................................................................... 88 9,449 7,052 Receivables: Investment Securities Sold............................................. 7 915 426 Dividends, Interest and Tax Reclaims................................... 2,762 6,973 3,893 Securities Lending Income.............................................. 177 28 78 Fund Shares Sold....................................................... 3,427 2,238 1,247 Prepaid Expenses and Other Assets........................................ 55 41 27 -------------- ------------ ------------ Total Assets........................................................ 4,541,299 2,815,542 1,781,042 -------------- ------------ ------------ LIABILITIES: Payables: Upon Return of Securities Loaned....................................... 426,133 46,252 47,192 Investment Securities Purchased........................................ 9,255 9,009 6,717 Fund Shares Redeemed................................................... 1,092 464 435 Due to Advisor......................................................... 749 1,153 576 Unrealized Loss on Foreign Currency Contracts............................ -- 27 15 Accrued Expenses and Other Liabilities................................... 317 253 212 -------------- ------------ ------------ Total Liabilities................................................... 437,546 57,158 55,147 -------------- ------------ ------------ NET ASSETS............................................................... $ 4,103,753 $ 2,758,384 $ 1,725,895 ============== ============ ============ SHARES OUTSTANDING, $0.01 PAR VALUE (1).................................. 321,210,300 172,530,260 168,370,758 ============== ============ ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE................................................................... $ 12.78 $ 15.99 $ 10.25 ============== ============ ============ Investments at Cost...................................................... $ 2,493,986 $ 2,343,399 $ 1,340,612 ============== ============ ============ Foreign Currencies at Cost............................................... $ -- $ 3,026 $ 3,025 ============== ============ ============ NET ASSETS CONSIST OF: Paid-In Capital.......................................................... $ 2,459,529 $ 2,362,309 $ 1,342,582 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)...................................................... 6,548 5,574 4,139 Accumulated Net Realized Gain (Loss)..................................... 36,733 (12,798) 1,645 Net Unrealized Foreign Exchange Gain (Loss).............................. -- 78 39 Net Unrealized Appreciation (Depreciation)............................... 1,600,943 403,221 377,490 -------------- ------------ ------------ NET ASSETS............................................................... $ 4,103,753 $ 2,758,384 $ 1,725,895 ============== ============ ============ (1) NUMBER OF SHARES AUTHORIZED.......................................... 1,000,000,000 700,000,000 500,000,000 ============== ============ ============ ---------- * See Note I in the Notes to Financial Statements for additional securities lending collateral. See accompanying Notes to Financial Statements. 39 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2013 (Amounts in thousands) Tax-Managed U.S. Tax-Managed Tax-Managed Marketwide U.S. Equity U.S. Targeted Value Portfolio* Portfolio Value Portfolio ---------------- ----------- --------------- Investment Income Net Investment Income Allocated from Affiliated Investment Company: Dividends (Net of Foreign Taxes Withheld of $66, $0 and $0, respectively)......................................................... $ 54,685 -- -- Interest............................................................... 12 -- -- Income from Securities Lending......................................... 497 -- -- Expenses Allocated from Affiliated Investment Company.................. (5,830) -- -- -------- -------- -------- Total Net Investment Income Received from Affiliated Investment Company............................................................ 49,364 -- -- -------- -------- -------- Fund Investment Income Dividends (Net of Foreign Taxes Withheld of $0, $23 and $5, respectively)......................................................... -- $ 36,703 $ 45,150 Interest............................................................... -- 9 15 Income from Securities Lending......................................... -- 436 1,191 -------- -------- -------- Total Investment Income............................................. -- 37,148 46,356 -------- -------- -------- Fund Expenses Investment Advisory Services Fees...................................... -- 882 11,654 Administrative Services Fees........................................... 4,087 2,648 -- Accounting & Transfer Agent Fees....................................... 40 143 219 Custodian Fees......................................................... -- 35 37 Filing Fees............................................................ 44 48 50 Shareholders' Reports.................................................. 51 29 52 Directors'/Trustees' Fees & Expenses................................... 28 19 29 Professional Fees...................................................... 14 54 79 Other.................................................................. 37 42 52 -------- -------- -------- Total Expenses...................................................... 4,301 3,900 12,172 -------- -------- -------- Fees (Waived), Expenses Reimbursed, and/or Previously Waived Fees Recovered by Advisor (Note C)......................................... -- (31) -- -------- -------- -------- Net Expenses........................................................... 4,301 3,869 12,172 -------- -------- -------- Net Investment Income (Loss)........................................... 45,063 33,279 34,184 -------- -------- -------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold........................................... 28,282 31,573 90,493 Futures.............................................................. -- -- (469) Change in Unrealized Appreciation (Depreciation) of: Investment Securities................................................ 749,568 385,510 808,724 -------- -------- -------- Net Realized and Unrealized Gain (Loss)................................ 777,850 417,083 898,748 -------- -------- -------- Net Increase (Decrease) in Net Assets Resulting from Operations.......... $822,913 $450,362 $932,932 ======== ======== ======== ---------- * Investment Income and Realized and Unrealized Gain (Loss) were allocated from the Portfolio's Master Fund (Affiliated Investment Company). See accompanying Notes to Financial Statements. 40 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2013 (Amounts in thousands) Tax-Managed T.A. World ex Tax-Managed T.A. U.S. Core DFA U.S. Core U.S. Small Equity 2 International Equity Cap Portfolio Portfolio Value Portfolio Portfolio ------------- -------------- --------------- ------------- Investment Income Dividends (Net of Foreign Taxes Withheld of $2, $31, $5,670 and $3,729, respectively)..................... $ 24,629 $ 65,761 $ 73,658 $ 41,570 Interest.............................................. 11 23 49 -- Income from Securities Lending........................ 2,576 2,065 1,021 1,285 -------- -------- -------- -------- Total Investment Income............................ 27,216 67,849 74,728 42,855 -------- -------- -------- -------- Fund Expenses Investment Advisory Services Fees..................... 7,935 7,650 11,583 5,913 Accounting & Transfer Agent Fees...................... 128 266 189 128 Custodian Fees........................................ 24 54 211 487 Filing Fees........................................... 39 107 103 58 Shareholders' Reports................................. 35 45 52 28 Directors'/Trustees' Fees & Expenses.................. 16 36 24 15 Professional Fees..................................... 46 99 81 85 Other................................................. 35 67 54 43 -------- -------- -------- -------- Total Expenses..................................... 8,258 8,324 12,297 6,757 -------- -------- -------- -------- Fees Paid Indirectly.................................. -- -- (7) (6) -------- -------- -------- -------- Net Expenses.......................................... 8,258 8,324 12,290 6,751 -------- -------- -------- -------- Net Investment Income (Loss).......................... 18,958 59,525 62,438 36,104 -------- -------- -------- -------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold.......................... 66,451 40,753 21,533 4,345 Foreign Currency Transactions....................... -- -- (449) (309) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.......... 440,389 894,300 480,686 263,265 Translation of Foreign Currency Denominated Amounts............................................ -- -- 267 82 -------- -------- -------- -------- Net Realized and Unrealized Gain (Loss)............... 506,840 935,053 502,037 267,383 -------- -------- -------- -------- Net Increase (Decrease) in Net Assets Resulting from Operations............................................. $525,798 $994,578 $564,475 $303,487 ======== ======== ======== ======== See accompanying Notes to Financial Statements. 41 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (Amounts in thousands) Tax-Managed U.S. Tax-Managed U.S. Marketwide Value Tax-Managed U.S. Targeted Value Portfolio Equity Portfolio Portfolio ---------------------- ---------------------- ---------------------- Year Year Year Year Year Year Ended Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2013 2012 2013 2012 ---------- ---------- ---------- ---------- ---------- ---------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss).......... $ 45,063 $ 40,353 $ 33,279 $ 27,462 $ 34,184 $ 22,355 Capital Gain Distributions Received from Investment Securities........... -- -- -- 9 -- -- Net Realized Gain (Loss) on: Investment Securities Sold/ Affiliated Investment Company Sold................................ 28,282 45,725 31,573 37,995 90,493 104,052 Futures.............................. -- -- -- -- (469) -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities/Affiliated Investment Company.................. 749,568 285,396 385,510 132,559 808,724 200,822 ---------- ---------- ---------- ---------- ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations......................... 822,913 371,474 450,362 198,025 932,932 327,229 ---------- ---------- ---------- ---------- ---------- ---------- Distributions From: Net Investment Income................. (45,918) (38,619) (33,403) (26,579) (34,487) (20,027) Net Long-Term Gains................... -- -- -- -- (51,974) -- ---------- ---------- ---------- ---------- ---------- ---------- Total Distributions................. (45,918) (38,619) (33,403) (26,579) (86,461) (20,027) ---------- ---------- ---------- ---------- ---------- ---------- Capital Share Transactions (1): Shares Issued......................... 413,061 273,305 292,819 208,380 351,960 228,284 Shares Issued in Lieu of Cash Distributions........................ 44,666 37,484 31,525 24,979 85,408 19,783 Shares Redeemed....................... (469,582) (361,467) (272,253) (246,462) (461,353) (367,757) ---------- ---------- ---------- ---------- ---------- ---------- Net Increase (Decrease) from Capital Share Transactions......... (11,855) (50,678) 52,091 (13,103) (23,985) (119,690) ---------- ---------- ---------- ---------- ---------- ---------- Total Increase (Decrease) in Net Assets............................. 765,140 282,177 469,050 158,343 822,486 187,512 Net Assets Beginning of Year..................... 2,345,296 2,063,119 1,522,411 1,364,068 2,378,567 2,191,055 ---------- ---------- ---------- ---------- ---------- ---------- End of Year........................... $3,110,436 $2,345,296 $1,991,461 $1,522,411 $3,201,053 $2,378,567 ========== ========== ========== ========== ========== ========== (1) Shares Issued and Redeemed: Shares Issued......................... 21,510 17,802 17,525 14,501 13,343 10,738 Shares Issued in Lieu of Cash Distributions........................ 2,374 2,494 1,885 1,766 3,664 970 Shares Redeemed....................... (24,667) (23,378) (16,115) (17,041) (17,890) (17,209) ---------- ---------- ---------- ---------- ---------- ---------- Net Increase (Decrease) from Shares Issued and Redeemed........................... (783) (3,082) 3,295 (774) (883) (5,501) ========== ========== ========== ========== ========== ========== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)..................... $ 6,707 $ 7,151 $ 4,207 $ 4,240 $ 4,774 $ 2,982 Tax-Managed U.S. Small Cap Portfolio ---------------------- Year Year Ended Ended Oct. 31, Oct. 31, 2013 2012 ---------- ---------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss).......... $ 18,958 $ 11,500 Capital Gain Distributions Received from Investment Securities........... -- -- Net Realized Gain (Loss) on: Investment Securities Sold/ Affiliated Investment Company Sold................................ 66,451 68,129 Futures.............................. -- -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities/Affiliated Investment Company.................. 440,389 86,134 ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations......................... 525,798 165,763 ---------- ---------- Distributions From: Net Investment Income................. (19,758) (10,665) Net Long-Term Gains................... -- -- ---------- ---------- Total Distributions................. (19,758) (10,665) ---------- ---------- Capital Share Transactions (1): Shares Issued......................... 265,581 151,087 Shares Issued in Lieu of Cash Distributions........................ 19,249 10,379 Shares Redeemed....................... (249,201) (197,583) ---------- ---------- Net Increase (Decrease) from Capital Share Transactions......... 35,629 (36,117) ---------- ---------- Total Increase (Decrease) in Net Assets............................. 541,669 118,981 Net Assets Beginning of Year..................... 1,331,266 1,212,285 ---------- ---------- End of Year........................... $1,872,935 $1,331,266 ========== ========== (1) Shares Issued and Redeemed: Shares Issued......................... 9,157 6,365 Shares Issued in Lieu of Cash Distributions........................ 725 459 Shares Redeemed....................... (8,677) (8,365) ---------- ---------- Net Increase (Decrease) from Shares Issued and Redeemed........................... 1,205 (1,541) ========== ========== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)..................... $ 2,335 $ 2,142 See accompanying Notes to Financial Statements. 42 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (Amounts in thousands) Tax-Managed DFA T.A. U.S. Core Equity 2 International Value T.A. World ex U.S. Core Portfolio Portfolio Equity Portfolio ---------------------- ---------------------- ---------------------- Year Year Year Year Year Year Ended Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2013 2012 2013 2012 ---------- ---------- ---------- ---------- ---------- ---------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)................. $ 59,525 $ 45,943 $ 62,438 $ 61,431 $ 36,104 $ 31,329 Capital Gain Distributions Received from Investment Securities....................... -- 37 -- -- -- -- Net Realized Gain (Loss) on: Investment Securities Sold................. 40,753 19,708 21,533 (1,850) 4,345 1,868 Foreign Currency Transactions.............. -- -- (449) (768) (309) (3) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.................................. 894,300 300,040 480,686 (5,473) 263,265 26,612 Translation of Foreign Currency Denominated Amounts....................... -- -- 267 (58) 82 (108) ---------- ---------- ---------- ---------- ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations................ 994,578 365,728 564,475 53,282 303,487 59,698 ---------- ---------- ---------- ---------- ---------- ---------- Distributions From: Net Investment Income........................ (58,615) (42,125) (64,636) (58,706) (37,052) (29,565) Net Long-Term Gains.......................... (3,496) -- -- -- (436) -- ---------- ---------- ---------- ---------- ---------- ---------- Total Distributions....................... (62,111) (42,125) (64,636) (58,706) (37,488) (29,565) ---------- ---------- ---------- ---------- ---------- ---------- Capital Share Transactions (1): Shares Issued................................ 772,713 508,269 540,616 531,329 401,186 384,441 Shares Issued in Lieu of Cash Distributions.. 61,302 41,426 63,075 57,299 36,576 28,659 Shares Redeemed.............................. (515,963) (452,936) (316,534) (455,312) (218,473) (245,607) ---------- ---------- ---------- ---------- ---------- ---------- Net Increase (Decrease) from Capital Share Transactions....................... 318,052 96,759 287,157 133,316 219,289 167,493 ---------- ---------- ---------- ---------- ---------- ---------- Total Increase (Decrease) in Net Assets................................... 1,250,519 420,362 786,996 127,892 485,288 197,626 Net Assets Beginning of Year............................ 2,853,234 2,432,872 1,971,388 1,843,496 1,240,607 1,042,981 ---------- ---------- ---------- ---------- ---------- ---------- End of Year.................................. $4,103,753 $2,853,234 $2,758,384 $1,971,388 $1,725,895 $1,240,607 ========== ========== ========== ========== ========== ========== (1) Shares Issued and Redeemed: Shares Issued................................ 70,037 55,305 37,954 43,190 42,914 47,312 Shares Issued in Lieu of Cash Distributions.. 5,642 4,601 4,452 4,849 3,951 3,668 Shares Redeemed.............................. (47,040) (49,089) (22,556) (37,266) (23,452) (30,383) ---------- ---------- ---------- ---------- ---------- ---------- Net Increase (Decrease) from Shares Issued and Redeemed...................... 28,639 10,817 19,850 10,773 23,413 20,597 ========== ========== ========== ========== ========== ========== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)....................................... $ 6,550 $ 6,522 $ 5,574 $ 7,757 $ 4,137 $ 5,850 See accompanying Notes to Financial Statements. 43 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (for a share outstanding throughout each period) Tax-Managed U.S. Marketwide Value Portfolio ---------------------------------------------------------------------- Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2011 2010 2009 ------------------------------------------------------------------------------------------------------------------------------ Net Asset Value, Beginning of Year................ $ 16.76 $ 14.42 $ 13.78 $ 11.61 $ 10.59 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)................ 0.32 0.28 0.22 0.16 0.21 Net Gains (Losses) on Securities (Realized and Unrealized).................................... 5.60 2.33 0.63 2.17 1.06 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations............... 5.92 2.61 0.85 2.33 1.27 ------------------------------------------------------------------------------------------------------------------------------ Less Distributions ------------------ Net Investment Income........................... (0.33) (0.27) (0.21) (0.16) (0.25) ---------- ---------- ---------- ---------- ---------- Total Distributions............................ (0.33) (0.27) (0.21) (0.16) (0.25) ------------------------------------------------------------------------------------------------------------------------------ Net Asset Value, End of Year...................... $ 22.35 $ 16.76 $ 14.42 $ 13.78 $ 11.61 ================================================= ========== ========== ========== ========== ========== Total Return...................................... 35.71% 18.34% 6.15% 20.17% 12.54% ------------------------------------------------------------------------------------------------------------------------------ Net Assets, End of Year (thousands)............... $3,110,436 $2,345,296 $2,063,119 $1,896,941 $1,618,256 Ratio of Expenses to Average Net Assets........... 0.37%(B) 0.38%(B) 0.38%(B) 0.38%(B) 0.40%(B) Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumptions of Expenses and/or Recovery of Previously Waived Fees)..................................... 0.37%(B) 0.38%(B) 0.38%(B) 0.38%(B) 0.40%(B) Ratio of Net Investment Income to Average Net Assets........................................... 1.66% 1.83% 1.45% 1.24% 2.07% Portfolio Turnover Rate........................... N/A N/A N/A N/A N/A ------------------------------------------------------------------------------------------------------------------------------ Tax-Managed U.S. Equity Portfolio --------------------------------------------------------------- Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2011 2010 2009 ----------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year................ $ 15.16 $ 13.48 $ 12.70 $ 10.94 $ 10.36 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)................ 0.32 0.27 0.23 0.20 0.22 Net Gains (Losses) on Securities (Realized and Unrealized).................................... 4.05 1.67 0.77 1.76 0.60 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations............... 4.37 1.94 1.00 1.96 0.82 ----------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income........................... (0.33) (0.26) (0.22) (0.20) (0.24) ---------- ---------- ---------- ---------- ---------- Total Distributions............................ (0.33) (0.26) (0.22) (0.20) (0.24) ----------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year...................... $ 19.20 $ 15.16 $ 13.48 $ 12.70 $ 10.94 ================================================= ========== ========== ========== ========== ========== Total Return...................................... 29.15% 14.57% 7.92% 18.10% 8.30% ----------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)............... $1,991,461 $1,522,411 $1,364,068 $1,286,236 $1,141,449 Ratio of Expenses to Average Net Assets........... 0.22% 0.22% 0.22%** 0.22%(B) 0.22%(B) Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumptions of Expenses and/or Recovery of Previously Waived Fees)..................................... 0.22% 0.22% 0.23%** 0.23%(B) 0.26%(B) Ratio of Net Investment Income to Average Net Assets........................................... 1.89% 1.87% 1.65% 1.70% 2.24% Portfolio Turnover Rate........................... 3% 7% 11%* N/A N/A ----------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. * For the period February 28, 2011 through October 31, 2011. Effective February 28, 2011, the Portfolio invests directly in securities rather than through The Tax-Managed U.S. Equity Series. **Represents the combined ratios for the Portfolio and for the period November 1, 2010 through February 27, 2011, its respective pro-rata share of The Tax-Managed U.S. Equity Series. See accompanying Notes to Financial Statements. 44 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (for a share outstanding throughout each period) Tax-Managed U.S. Targeted Value Portfolio ---------------------------------------------------------- Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2011 2010 2009 ------------------------------------------------------------------------------------------------------------------ Net Asset Value, Beginning of Year................... $ 22.89 $ 20.02 $ 19.09 $ 14.96 $ 14.41 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)................... 0.33 0.21 0.14 0.11 0.14 Net Gains (Losses) on Securities (Realized and Unrealized)....................................... 8.69 2.85 0.93 4.13 0.60 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations.................. 9.02 3.06 1.07 4.24 0.74 ------------------------------------------------------------------------------------------------------------------ Less Distributions ------------------ Net Investment Income.............................. (0.34) (0.19) (0.14) (0.11) (0.19) Net Realized Gains................................. (0.51) -- -- -- -- ---------- ---------- ---------- ---------- ---------- Total Distributions............................... (0.85) (0.19) (0.14) (0.11) (0.19) ------------------------------------------------------------------------------------------------------------------ Net Asset Value, End of Year......................... $ 31.06 $ 22.89 $ 20.02 $ 19.09 $ 14.96 ===================================================== ========== ========== ========== ========== ========== Total Return......................................... 40.60% 15.39% 5.58% 28.43% 5.41% ------------------------------------------------------------------------------------------------------------------ Net Assets, End of Year (thousands).................. $3,201,053 $2,378,567 $2,191,055 $2,145,546 $1,700,343 Ratio of Expenses to Average Net Assets.............. 0.44% 0.44% 0.44% 0.45% 0.47% Ratio of Net Investment Income to Average Net Assets. 1.24% 0.98% 0.66% 0.63% 1.04% Portfolio Turnover Rate.............................. 6% 12% 21% 26% 34% ------------------------------------------------------------------------------------------------------------------ Tax-Managed U.S. Small Cap Portfolio -------------------------------------------------------- Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2011 2010 2009 --------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year................... $ 24.93 $ 22.07 $ 20.47 $ 16.26 $ 15.83 ---------- ---------- ---------- ---------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)................... 0.35 0.21 0.15 0.11 0.13 Net Gains (Losses) on Securities (Realized and Unrealized)....................................... 9.40 2.85 1.59 4.20 0.47 ---------- ---------- ---------- ---------- -------- Total from Investment Operations.................. 9.75 3.06 1.74 4.31 0.60 --------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income.............................. (0.37) (0.20) (0.14) (0.10) (0.17) Net Realized Gains................................. -- -- -- -- -- ---------- ---------- ---------- ---------- -------- Total Distributions............................... (0.37) (0.20) (0.14) (0.10) (0.17) --------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year......................... $ 34.31 $ 24.93 $ 22.07 $ 20.47 $ 16.26 ===================================================== ========== ========== ========== ========== ======== Total Return......................................... 39.55% 13.95% 8.50% 26.61% 3.98% --------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).................. $1,872,935 $1,331,266 $1,212,285 $1,141,494 $957,145 Ratio of Expenses to Average Net Assets.............. 0.52% 0.53% 0.53% 0.53% 0.55% Ratio of Net Investment Income to Average Net Assets. 1.20% 0.90% 0.64% 0.58% 0.88% Portfolio Turnover Rate.............................. 7% 17% 22% 27% 28% --------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 45 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (for a share outstanding throughout each period) T.A. U.S. Core Equity 2 Portfolio ---------------------------------------------------------- Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2011 2010 2009 ---------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year............................. $ 9.75 $ 8.63 $ 8.18 $ 6.83 $ 6.31 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)............................. 0.19 0.16 0.12 0.11 0.11 Net Gains (Losses) on Securities (Realized and Unrealized)... 3.04 1.11 0.45 1.35 0.52 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations............................ 3.23 1.27 0.57 1.46 0.63 ---------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income........................................ (0.19) (0.15) (0.12) (0.11) (0.11) Net Realized Gains........................................... (0.01) -- -- -- -- ---------- ---------- ---------- ---------- ---------- Total Distributions......................................... (0.20) (0.15) (0.12) (0.11) (0.11) ---------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................... $ 12.78 $ 9.75 $ 8.63 $ 8.18 $ 6.83 =============================================================== ========== ========== ========== ========== ========== Total Return................................................... 33.58% 14.82% 6.97% 21.49% 10.28% ---------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)............................ $4,103,753 $2,853,234 $2,432,872 $2,014,584 $1,444,886 Ratio of Expenses to Average Net Assets........................ 0.24% 0.24% 0.24% 0.25% 0.28% Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly)................................ 0.24% 0.24% 0.24% 0.25% 0.28% Ratio of Net Investment Income to Average Net Assets........... 1.72% 1.71% 1.39% 1.45% 1.82% Portfolio Turnover Rate........................................ 2% 6% 6% 5% 5% ---------------------------------------------------------------------------------------------------------------------------- Tax-Managed DFA International Value Portfolio ----------------------------------------------------------- Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2011 2010 2009 ---------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year............................. $ 12.91 $ 12.99 $ 14.53 $ 13.49 $ 10.55 ---------- ---------- ---------- ---------- ---------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)............................. 0.39 0.42 0.46 0.31 0.32 Net Gains (Losses) on Securities (Realized and Unrealized)... 3.09 (0.10) (1.55) 1.03 3.00 ---------- ---------- ---------- ---------- ---------- Total from Investment Operations............................ 3.48 0.32 (1.09) 1.34 3.32 ---------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income........................................ (0.40) (0.40) (0.45) (0.30) (0.38) Net Realized Gains........................................... -- -- -- -- -- ---------- ---------- ---------- ---------- ---------- Total Distributions......................................... (0.40) (0.40) (0.45) (0.30) (0.38) ---------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................... $ 15.99 $ 12.91 $ 12.99 $ 14.53 $ 13.49 =============================================================== ========== ========== ========== ========== ========== Total Return................................................... 27.39% 2.77% (7.81)% 10.34% 32.27% ---------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)............................ $2,758,384 $1,971,388 $1,843,496 $1,834,003 $1,637,834 Ratio of Expenses to Average Net Assets........................ 0.53% 0.55% 0.55% 0.55% 0.56% Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly)................................ 0.53% 0.55% 0.55% 0.55% 0.56% Ratio of Net Investment Income to Average Net Assets........... 2.70% 3.32% 3.16% 2.29% 2.92% Portfolio Turnover Rate........................................ 12% 18% 16% 28% 24% ---------------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 46 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (for a share outstanding throughout each period) T.A. World ex U.S. Core Equity Portfolio ------------------------------------------------------- Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2011 2010 2009 ---------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year.......................... $ 8.56 $ 8.39 $ 9.31 $ 8.13 $ 5.85 ---------- ---------- ---------- -------- -------- Income from Investment Operations ---------------------- Net Investment Income (Loss) (A)......................... 0.23 0.23 0.25 0.17 0.16 Net Gains (Losses) on Securities (Realized and Unrealized)................. 1.70 0.16 (0.93) 1.17 2.27 ---------- ---------- ---------- -------- -------- Total from Investment Operations................. 1.93 0.39 (0.68) 1.34 2.43 ---------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income......... (0.24) (0.22) (0.24) (0.16) (0.15) Net Realized Gains............ -- -- -- -- -- ---------- ---------- ---------- -------- -------- Total Distributions......... (0.24) (0.22) (0.24) (0.16) (0.15) ---------------------------------------------------------------------------------------- Net Asset Value, End of Year... $ 10.25 $ 8.56 $ 8.39 $ 9.31 $ 8.13 ============================= ========== ========== ========== ======== ======== Total Return................... 22.88% 4.90% (7.55)% 16.78% 42.13% ---------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)................... $1,725,895 $1,240,607 $1,042,981 $966,999 $668,728 Ratio of Expenses to Average Net Assets.................... 0.46% 0.49% 0.48% 0.48% 0.54% Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees and Fees Paid Indirectly)......... 0.46% 0.49% 0.48% 0.48% 0.51% Ratio of Net Investment Income to Average Net Assets.. 2.45% 2.77% 2.63% 2.00% 2.38% Portfolio Turnover Rate........ 2% 3% 5% 2% 5% ---------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 47 DFA INVESTMENT DIMENSIONS GROUP INC. NOTES TO FINANCIAL STATEMENTS A. Organization: DFA Investment Dimensions Group Inc. (the "Fund") is an open-end management investment company registered under the Investment Company Act of 1940, whose shares are generally offered to institutional investors, retirement plans and clients of registered investment advisors. The Fund consists of seventy-six operational portfolios, seven of which (the "Portfolios"), are included in this section of the report. The remaining sixty-nine portfolios are presented in separate reports. Tax-Managed U.S. Marketwide Value Portfolio (the "Feeder Fund") primarily invests its assets in The Tax-Managed U.S. Marketwide Value Series (the "Series"), a corresponding series of The DFA Investment Trust Company. At October 31, 2013, the Feeder Fund owned 71% of its Series. The financial statements of the Series are included elsewhere in this report and should be read in conjunction with the financial statements of the Feeder Fund. Tax-Managed U.S. Equity Portfolio, Tax-Managed U.S. Targeted Value Portfolio, Tax-Managed U.S. Small Cap Portfolio, T.A. U.S. Core Equity 2 Portfolio, Tax-Managed DFA International Value Portfolio and T.A. World ex U.S. Core Equity Portfolio are organized as stand-alone registered investment companies. Prior to February 28, 2011, Tax-Managed U.S. Equity Portfolio invested substantially all of its assets in The Tax-Managed U.S. Equity Series (the "Equity Series"). At the close of business February 25, 2011, Tax-Managed U.S. Equity Portfolio received its prorata share of cash and securities from the Equity Series in a complete liquidation of its interest in the Equity Series. Effective February 28, 2011, Tax-Managed U.S. Equity Portfolio invests directly in securities rather than through the Equity Series and maintains the same investment objective. B. Significant Accounting Policies: The following significant accounting policies are in conformity with accounting principles generally accepted in the United States of America. Such policies are consistently followed by the Fund in preparation of its financial statements. The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the fair value of investments, the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates and those differences could be material. 1. Security Valuation: The Portfolios utilize a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels described below: . Level 1 - inputs are quoted prices in active markets for identical securities (including equity securities, open-end investment companies, futures contracts) . Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) . Level 3 - significant unobservable inputs (including the Portfolios' own assumptions in determining the fair value of investments) Securities held by Tax-Managed U.S. Equity Portfolio, Tax-Managed U.S. Targeted Value Portfolio, Tax-Managed U.S. Small Cap Portfolio and T.A. U.S. Core Equity 2 Portfolio (the "Domestic Equity Portfolios") and Tax-Managed DFA International Value Portfolio and T.A. World ex U.S. Core Equity Portfolio (the "International Equity Portfolios"), including over-the-counter securities, are valued at the last quoted sale price at the close of the exchanges on which they are principally traded (official closing price). International equity securities are subject to a fair value factor, as described later in this note. Securities held by the Domestic Equity Portfolios and the International Equity Portfolios that are listed on Nasdaq are valued at the Nasdaq Official Closing Price ("NOCP"). If 48 there is no last reported sale price or NOCP for the day, the Domestic Equity Portfolios and the International Equity Portfolios value the securities at the mean of the most recent quoted bid and asked prices which approximate fair value. Price information on listed securities is taken from the exchange where the security is primarily traded. Generally, securities issued by open-end investment companies are valued using their respective net asset values or public offering prices, as appropriate, for purchase orders placed at the close of the New York Stock Exchange (NYSE). These securities are generally categorized as Level 1 in the hierarchy. Securities for which no market quotations are readily available (including restricted securities), or for which market quotations have become unreliable, are valued in good faith at fair value in accordance with procedures adopted by the Board. Fair value pricing may also be used if events that have a significant effect on the value of an investment (as determined in the discretion of the Investment Committee of Dimensional Fund Advisors LP) occur before the net asset value is calculated. When fair value pricing is used, the prices of securities used by the Domestic Equity Portfolios and the International Equity Portfolios may differ from the quoted or published prices for the same securities on their primary markets or exchanges. These securities are generally categorized as Level 2 in the hierarchy. The International Equity Portfolios will also apply a fair value price in the circumstances described below. Generally, trading in foreign securities markets is completed each day at various times prior to the close of the NYSE. For example, trading in the Japanese securities markets is completed each day at the close of the Tokyo Stock Exchange (normally, 11:00 p.m. PT), which is fourteen hours prior to the close of the NYSE (normally, 1:00 p.m. PT) and the time that the net asset values of the International Equity Portfolios are computed. Due to the time differences between the closings of the relevant foreign securities exchanges and the time the International Equity Portfolios price their shares at the close of the NYSE, the International Equity Portfolios will fair value their foreign investments when it is determined that the market quotations for the foreign investments are either unreliable or not readily available. The fair value prices will attempt to reflect the impact of the U.S. financial markets' perceptions and trading activities on the International Equity Portfolios' foreign investments since the last closing prices of the foreign investments were calculated on their primary foreign securities markets or exchanges. For these purposes, the Board of the Fund has determined that movements in relevant indices or other appropriate market indicators, after the close of the Tokyo Stock Exchange or the London Stock Exchange, demonstrate that market quotations may be unreliable. Fair valuation of portfolio securities may occur on a daily basis. The fair value pricing by the International Equity Portfolios utilizes data furnished by an independent pricing service (and that data draws upon, among other information, the market values of foreign investments). When the International Equity Portfolios use fair value pricing, the values assigned to the foreign investments may not be the quoted or published prices of the investments on their primary markets or exchanges. These securities are generally categorized as Level 2 in the hierarchy. Futures contracts held by the Portfolios are valued using the settlement price established each day on the exchange on which they are traded. These valuations are generally categorized as Level 1 in the hierarchy. Tax-Managed U.S. Marketwide Value Portfolio's investment reflects its proportionate interest in the net assets of the Series. These valuations are classified as Level 1 in the hierarchy. A summary of the inputs used to value the Portfolios' investments by each major security type, industry and/or country is disclosed previously in this note. Valuation hierarchy tables have been included at the end of the Summary Schedule of Portfolio Holdings. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment's valuation changes. The Portfolios recognize transfers between the levels as of the end of the period. As of October 31, 2013, the T.A. World Ex US Core Equity Portfolio had significant transfers of securities with a total value of $27,764 (in thousands) that transferred from Level 1 to Level 2. At October 31, 2013, the fair market value of certain securities were adjusted due to developments which occurred between the time of the close of the foreign markets on which they trade and the close of business on the NYSE which resulted in their Level 2 classification. 49 2. Foreign Currency Translation: Securities and other assets and liabilities of the International Equity Portfolios whose values are initially expressed in foreign currencies are translated to U.S. dollars using the mean between the most recent bid and asked prices for the U.S. dollar as quoted by generally recognized reliable sources. Dividend and interest income and certain expenses are translated to U.S. dollars at the rate of exchange on their respective accrual dates. Receivables and payables denominated in foreign currencies are marked-to-market daily based on daily exchange rates and exchange gains or losses are realized upon ultimate receipt or disbursement. The International Equity Portfolios do not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of securities whether realized or unrealized. Realized gains or losses on foreign currency transactions represent net foreign exchange gains or losses from the disposition of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between amounts of interest, dividends and any foreign withholding taxes recorded on the books of the International Equity Portfolios and the U.S. dollar equivalent amounts actually received or paid. 3. Deferred Compensation Plan: Each eligible Director/Trustee of the Fund may elect participation in The Fee Deferral Plan for Independent Directors and Trustees (the "Plan"). Under the Plan, effective January 1, 2002, such Directors/Trustees may defer payment of all or a portion of their total fees earned as a Director/Trustee. These deferred amounts may be treated as though such amounts had been invested in shares of the following funds: U.S. Large Cap Value Portfolio; U.S. Core Equity 1 Portfolio; U.S. Core Equity 2 Portfolio; U.S. Vector Equity Portfolio; U.S. Micro Cap Portfolio; DFA International Value Portfolio; International Core Equity Portfolio; Emerging Markets Portfolio; Emerging Markets Core Equity Portfolio; and/or DFA Two-Year Global Fixed Income Portfolio. Contributions made under the Plan and the change in unrealized appreciation (depreciation) and income are included in Directors'/Trustees' Fees & Expenses. Each Director/Trustee has the option to receive their distribution of proceeds in one of the following methods: lump sum; annual installments over a period of agreed upon years; or quarterly installments over a period of agreed upon years. Each Director/Trustee shall have the right in a notice of election (the "Notice") to defer the receipt of the Director's/Trustee's deferred compensation until a date specified by such Director/Trustee in the Notice, which date may not be sooner than the earlier of: (i) the first business day of January following the year in which such Director/Trustee ceases to be a member of the Board; and (ii) five years following the effective date of the Director's/Trustee's first deferral election. If a Director/Trustee who elects to defer fees fails to designate in the Notice a time or date as of which payment of the Director's/Trustee's deferred fee account shall commence, payment of such amount shall commence as of the first business day of January following the year in which the Director/Trustee ceases to be a member of the Board (unless the Director/Trustee files an amended Notice selecting a different distribution date). As of October 31, 2013, none of the Directors/Trustees have requested or received a distribution of proceeds of a deferred fee account. 4. Other: Security transactions are accounted for as of the trade date. Costs used in determining realized gains and losses on the sale of investment securities and foreign currency are on the basis of identified cost. Dividend income and distributions to shareholders are recorded on the ex-dividend date. Distributions received on securities that represent a return of capital or capital gains are recorded as a reduction of cost of investments or as a realized gain, respectively. The Portfolios estimate the character of distributions received that may be considered return of capital distributions. Interest income is recorded on an accrual basis. Expenses directly attributable to a Portfolio are directly charged. Common expenses of the Fund or Portfolios are allocated using methods approved by the Board, generally based on average net assets. The Feeder Fund recognizes its pro-rata share of net investment income and realized and unrealized gains/losses of investment securities, on a daily basis, from its Series, which is treated as a partnership for federal income tax purposes. The International Equity Portfolios may be subject to taxes imposed by countries in which they invest, with respect to their investments in issuers existing or operating in such countries. Such taxes are generally based on income earned or repatriated and capital gains realized on the sale of such investments. The International Equity 50 Portfolios accrue such taxes when the related income or capital gains are earned or throughout the holding period. Some countries require governmental approval for the repatriation of investment income, capital or the proceeds of sales earned by foreign investors. In addition, if there is a deterioration in a country's balance of payments or for other reasons, a country may impose temporary restrictions on foreign capital remittances abroad. T.A. World ex U.S. Core Equity Portfolio is subject to a 15% tax on short-term capital gains for investments in India. Such taxes are due upon sale of individual securities. The capital gains taxes are recognized when the capital gains are earned. C. Investment Advisor: The Advisor, Dimensional Fund Advisors LP, provides administrative services to the Feeder Fund and Tax-Managed U.S. Equity Portfolio, including supervision of services provided by others, providing information to shareholders and the Board, and other administrative services. The Advisor provides investment advisory services to the Portfolios. The Advisor receives no additional compensation for the investment advisory services it provides to the Feeder Fund. For the year ended October 31, 2013, the Portfolios' administrative services fees or investment advisory services fees were accrued daily and paid monthly to the Advisor based on the following effective annual rates of average daily net assets: Administrative Advisory Services Fees Services Fees -------------- ------------- Tax-Managed U.S. Marketwide Value Portfolio... 0.15% -- Tax-Managed U.S. Equity Portfolio............. 0.15% 0.05% Tax-Managed U.S. Targeted Value Portfolio..... -- 0.42% Tax-Managed U.S. Small Cap Portfolio.......... -- 0.50% T.A. U.S. Core Equity 2 Portfolio............. -- 0.22% Tax-Managed DFA International Value Portfolio. -- 0.50% T.A. World ex U.S. Core Equity Portfolio...... -- 0.40% Pursuant to an Amended and Restated Fee Waiver and/or Expense Assumption Agreement, the Advisor has contractually agreed to waive certain fees and in certain instances, assume certain expenses of the Tax-Managed U.S. Equity Portfolio, T.A. U.S. Core Equity 2 Portfolio, and T.A. World ex U.S. Core Equity Portfolio, as described in the notes below. The Amended and Restated Fee Waiver and/or Expense Assumption Agreement for the Portfolios below will remain in effect through February 28, 2014, and shall continue in effect from year to year thereafter unless terminated by the Fund or the Advisor. For the year ended October 31, 2013, the Portfolios listed had expense limits based on a percentage of average net assets on an annualized basis, and the Advisor recovered previously waived fees and/or expenses assumed as listed below (amounts in thousands). Previously waived fees subject to future recovery by the Advisor are also reflected below (amounts in thousands). The Fund, on behalf of the Portfolios listed, is not obligated to reimburse the Advisor for fees previously waived or expenses previously assumed by the Advisor more than thirty-six months before the date of recovery. Previously Recovery Waived Fees/ Expense of Previously Expenses Assumed Limitation Waived Fees/ Subject to Future Amount Expenses Assumed Recovery ---------- ---------------- ----------------- Tax-Managed U.S. Equity Portfolio (1)........ 0.22% $42 $246 T.A. U.S. Core Equity 2 Portfolio (2)........ 0.30% -- -- T.A. World ex U.S. Core Equity Portfolio (3). 0.60% -- -- (1) The Advisor has contractually agreed to waive its administration fee and advisory fee and assume the ordinary operating expenses of the Portfolio (excluding the expenses that the Portfolio incurs indirectly through investment in other investment companies) ("Portfolio Expenses") to the extent necessary to reduce the Portfolio's total operating expenses to the rate listed above as a percentage of the Portfolio's average net assets on an annualized basis (the "Expense Limitation Amount"). At any time that the Portfolio Expenses of the Portfolio are less than the Expense Limitation Amount listed above for the Portfolio, the Advisor retains the right to recover any 51 fees previously waived and/or expenses previously assumed to the extent that such recovery will not cause the Portfolio Expenses to exceed the Expense Limitation Amount. (2) The Advisor has contractually agreed to waive all or a portion of its advisory fee and to assume the Portfolio's ordinary operating expenses (excluding the expenses the Portfolio incurs indirectly through investment in other investment companies and excluding any applicable 12b-1 fees) ("Portfolio Expenses") to the extent necessary to limit the Portfolio Expenses to the rate listed above as a percentage of average net assets on an annualized basis (the "Expense Limitation Amount"). At any time that the annualized Portfolio Expenses of the Portfolio are less than the Expense Limitation Amount listed above, the Advisor retains the right to recover any fees previously waived and/or any expenses previously assumed to the extent that such recovery will not cause the Portfolio's annualized Portfolio Expenses to exceed the Expense Limitation Amount. (3) The Advisor has contractually agreed to waive all or a portion of its advisory fee and to assume the expenses of the Portfolio (including the expenses that the Portfolio bears as a shareholder of other funds managed by the Advisor but excluding the expenses that the Portfolio incurs indirectly through its investment in unaffiliated investment companies and excluding any applicable 12b-1 fees) ("Portfolio Expenses") to the extent necessary to limit the Portfolio Expenses of the Portfolio to the rate listed above as a percentage of the Portfolio's average net assets on an annualized basis (the "Expense Limitation Amount"). At any time that the annualized Portfolio Expenses of the Portfolio are less than the Expense Limitation Amount listed above, the Advisor retains the right to recover any fees previously waived and/or any expenses previously assumed to the extent that such recovery will not cause the Portfolio's annualized Portfolio Expenses to exceed the Expense Limitation Amount. Earned Income Credit: In addition, the Portfolios have entered into arrangements with their custodian whereby net interest earned on uninvested cash balances was used to reduce a portion of each Portfolio's custody expenses. Custody expense in the accompanying financial statements is presented before reduction for credits. During the year ended October 31, 2013, expenses reduced were as follows (amounts in thousands): Fees Paid Indirectly ---------- Tax-Managed DFA International Value Portfolio. $7 T.A. World ex U.S. Core Equity Portfolio...... 6 Fees Paid to Officers and Directors/Trustees: Certain Officers and Directors/Trustees of the Advisor are also Officers and Directors/Trustees of the Fund; however, such Officers and Directors/Trustees (with the exception of the Chief Compliance Officer ("CCO")) receive no compensation from the Fund. For the year ended October 31, 2013, the total related amounts paid to the CCO by the Fund were $250 (in thousands). The total related amounts paid by each of the Portfolios are included in Other Expenses on the Statement of Operations. D. Deferred Compensation: At October 31, 2013, the total liability for deferred compensation to Directors/Trustees is included in Accrued Expenses and Other Liabilities on the Statement of Assets and Liabilities as follows (amounts in thousands): Tax-Managed U.S. Marketwide Value Portfolio... $73 Tax-Managed U.S. Equity Portfolio............. 90 Tax-Managed U.S. Targeted Value Portfolio..... 76 Tax-Managed U.S. Small Cap Portfolio.......... 44 T.A. U.S. Core Equity 2 Portfolio............. 70 Tax-Managed DFA International Value Portfolio. 67 T.A. World ex U.S. Core Equity Portfolio...... 30 52 E. Purchases and Sales of Securities: For the year ended October 31, 2013, the Portfolios made the following purchases and sales of investment securities, other than short-term securities and U.S. government securities (amounts in thousands): Purchases Sales --------- -------- Tax-Managed U.S. Equity Portfolio............. $107,908 $ 48,806 Tax-Managed U.S. Targeted Value Portfolio..... 169,764 171,583 Tax-Managed U.S. Small Cap Portfolio.......... 178,701 114,756 T.A. U.S. Core Equity 2 Portfolio............. 410,172 62,102 Tax-Managed DFA International Value Portfolio. 564,855 277,501 T.A. World ex U.S. Core Equity Portfolio...... 242,063 24,451 There were no purchases or sales of long-term U.S. government securities. F. Federal Income Taxes: Each Portfolio has qualified and intends to continue to qualify as a regulated investment company under Sub-chapter M of the Internal Revenue Code for federal income tax purposes and to distribute substantially all of its taxable income and net capital gains to shareholders. Accordingly, no provision has been made for federal income taxes. Distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from those amounts determined under accounting principles generally accepted in the United States of America. These book/tax differences are either temporary or permanent in nature. To the extent these differences are permanent, they are charged or credited to paid-in capital, undistributed net investment income or accumulated net realized gains or losses, as appropriate, in the period that the differences arise. Accordingly, the following permanent differences as of October 31, 2013, primarily attributable to net foreign currency gains/losses, realized gains on securities considered to be "passive foreign investment companies", the utilization of accumulated earnings and profits distributed to shareholders on redemptions of shares as part of the dividends paid deduction for income tax purposes, non-deductible expenses, foreign capital gains tax, tax-equalization, were reclassified to the following accounts. These reclassifications had no effect on net assets or net asset value per share (amounts in thousands): Increase Increase (Decrease) (Decrease) Increase Undistributed Accumulated (Decrease) Net Investment Net Realized Paid-In Capital Income Gains (Losses) --------------- -------------- -------------- Tax-Managed U.S. Marketwide Value Portfolio... -- $ 411 $ (411) Tax-Managed U.S. Equity Portfolio............. -- 91 (91) Tax-Managed U.S. Targeted Value Portfolio..... $4,040 2,090 (6,130) Tax-Managed U.S. Small Cap Portfolio.......... -- 993 (993) T.A. U.S. Core Equity 2 Portfolio............. 2,201 (884) (1,317) Tax-Managed DFA International Value Portfolio. -- 15 (15) T.A. World ex U.S. Core Equity Portfolio...... 825 (763) (62) The tax character of dividends and distributions declared and paid during the years ended October 31, 2012 and October 31, 2013 were as follows (amounts in thousands): Net Investment Income and Short-Term Long-Term Capital Gains Capital Gains Total -------------- ------------- ------- Tax-Managed U.S. Marketwide Value Portfolio 2012........................................ $38,619 $38,619 2013........................................ 45,918 -- 45,918 53 Net Investment Income and Short-Term Long-Term Capital Gains Capital Gains Total -------------- ------------- ------- Tax-Managed U.S. Equity Portfolio 2012.......................................... $26,579 $26,579 2013.......................................... 33,403 -- 33,403 Tax-Managed U.S. Targeted Value Portfolio 2012.......................................... 21,411 $ 3,466 24,877 2013.......................................... 34,487 51,974 86,461 Tax-Managed U.S. Small Cap Portfolio 2012.......................................... 10,665 10,665 2013.......................................... 19,758 -- 19,758 T.A. U.S. Core Equity 2 Portfolio 2012.......................................... 43,904 140 44,044 2013.......................................... 58,615 3,496 62,111 Tax-Managed DFA International Value Portfolio 2012.......................................... 60,106 60,106 2013.......................................... 64,636 -- 64,636 T.A. World ex U.S. Core Equity Portfolio 2012.......................................... 30,337 10 30,347 2013.......................................... 37,052 436 37,488 At October 31, 2013, the following net investment income and short-term capital gains and long-term capital gains distributions designated for federal income tax purposes are due to the utilization of accumulated earnings and profits distributed to shareholders upon redemption of shares (amounts in thousands): Net Investment Income and Short-Term Long-Term Capital Gains Capital Gains Total -------------- ------------- ------ Tax-Managed U.S. Targeted Value Portfolio. $1,189 $2,851 $4,040 T.A. U.S. Core Equity 2 Portfolio......... 1,315 886 2,201 T.A. World ex U.S. Core Equity Portfolio.. 746 80 826 At October 31, 2013, the components of distributable earnings (accumulated losses) were as follows (amounts in thousands): Undistributed Total Net Net Investment Distributable Income and Undistributed Unrealized Earnings Short-Term Long-Term Capital Loss Appreciation (Accumulated Capital Gains Capital Gains Carryfoward (Depreciation) Losses) -------------- ------------- ------------ -------------- ------------- Tax-Managed U.S. Marketwide Value Portfolio.......................... $6,823 -- $(112,900) $1,271,053 $1,164,976 Tax-Managed U.S. Equity Portfolio.... 4,298 -- (392,788) 954,728 566,238 Tax-Managed U.S. Targeted Value Portfolio.......................... 4,848 $83,814 -- 1,312,318 1,400,980 Tax-Managed U.S. Small Cap Portfolio. 2,623 -- (1,518) 843,717 844,822 T.A. U.S. Core Equity 2 Portfolio.... 6,680 39,411 -- 1,598,207 1,644,298 Tax-Managed DFA International Value Portfolio.......................... 5,723 -- (8,800) 399,221 396,144 T.A. World ex U.S. Core Equity Portfolio.......................... 6,920 3,988 -- 372,437 383,345 For federal income tax purposes, the Fund measures its capital loss carryforwards annually at October 31, its fiscal year end. Capital loss carryforwards may be carried forward and applied against future capital gains. Under the 54 Regulated Investment Company Modernization Act of 2010, capital losses incurred by these Portfolios after October 31, 2011 will not be subject to expiration and will retain their character as either short-term or long-term capital losses. In addition, such losses must be utilized prior to the losses incurred in the years preceding enactment. As of October 31, 2013, the Portfolios had the following capital loss carryforwards available to offset future realized capital gains through the indicated expiration dates (amounts in thousands): Expires on October 31, -------------------------- 2016 2017 Total -------- -------- -------- Tax-Managed U.S. Marketwide Value Portfolio... -- $112,900 $112,900 Tax-Managed U.S. Equity Portfolio............. $106,222 286,566 392,788 Tax-Managed U.S. Small Cap Portfolio.......... -- 1,518 1,518 Tax-Managed DFA International Value Portfolio. -- 8,800 8,800 During the year ended October 31, 2013, the Portfolios utilized the following capital loss carryforwards to offset realized capital gains for federal income tax purposes (amounts in thousands): Tax-Managed U.S. Marketwide Value Portfolio... $27,871 Tax-Managed U.S. Equity Portfolio............. 31,253 Tax-Managed U.S. Small Cap Portfolio.......... 65,442 Tax-Managed DFA International Value Portfolio. 21,417 At October 31, 2013, the total cost and aggregate gross unrealized appreciation (depreciation) of securities for federal income tax purposes were different from amounts reported for financial reporting purposes (amounts in thousands): Net Unrealized Federal Unrealized Unrealized Appreciation Tax Cost Appreciation Depreciation (Depreciation) ---------- ------------ ------------ -------------- Tax-Managed U.S. Marketwide Value Portfolio... $1,839,117 $1,271,053 -- $1,271,053 Tax-Managed U.S. Equity Portfolio............. 1,162,919 968,896 $ (14,168) 954,728 Tax-Managed U.S. Targeted Value Portfolio..... 2,244,771 1,403,739 (91,421) 1,312,318 Tax-Managed U.S. Small Cap Portfolio.......... 1,384,293 880,346 (36,629) 843,717 T.A. U.S. Core Equity 2 Portfolio............. 2,936,575 1,645,342 (47,135) 1,598,207 Tax-Managed DFA International Value Portfolio. 2,393,733 553,594 (154,468) 399,126 T.A. World ex U.S. Core Equity Portfolio...... 1,392,903 490,065 (117,662) 372,403 The difference between book basis and tax-basis unrealized appreciation (depreciation) is primarily attributable to the tax deferral of losses on wash sales and investments in passive foreign investment companies. Accounting for Uncertainty in Income Taxes sets forth a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. Management has analyzed each Portfolio's tax positions and has concluded that no additional provision for income tax is required in any Portfolios' financial statements. The Portfolios are not aware of any tax positions for which it is more likely than not that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. Each of the Portfolio's federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service. G. Financial Instruments: In accordance with the Portfolios' investment objectives and policies, the Portfolios may invest in certain financial instruments that have off-balance sheet risk in excess of the amounts recognized in the financial statements and concentrations of credit and market risk. These instruments and their significant corresponding risks are described below: 1. Repurchase Agreements: The Portfolios may purchase certain U.S. Government securities subject to the counterparty's agreement to repurchase them at an agreed upon date and price. The counterparty will be required 55 on a daily basis to maintain the value of the collateral subject to the agreement at not less than the repurchase price (including accrued interest). The agreements are conditioned upon the collateral being deposited under the Federal Reserve book-entry system with the Portfolios' custodian or a third party sub-custodian. In the event of default or bankruptcy by the other party to the agreement, retention of the collateral may be subject to legal proceedings. 2. Foreign Market Risks: Investments in foreign markets may involve certain considerations and risks not typically associated with investments in the United States of America, including the possibility of future political and economic developments and the level of foreign governmental supervision and regulation of foreign securities markets. These markets are generally smaller, less liquid and more volatile than the major securities markets in the United States of America. Consequently, acquisition and disposition of international securities held by the Portfolios may be inhibited. Derivative Financial Instruments: Summarized below are the specific types of derivative instruments used by the Portfolios. 3. Futures Contracts: The Portfolios may enter into futures contracts to gain market exposure on uninvested cash pending investment in securities or to maintain liquidity to pay redemptions. Upon entering into a futures contract, the Portfolio deposits cash or pledges U.S. Government securities to a broker, equal to the minimum "initial margin" requirements of the exchange on which the contract is traded. Subsequent payments are received from or paid to the broker each day, based on the daily fluctuation in the market value of the contract. These receipts or payments are known as "variation margin" and are recorded daily by the Portfolio as unrealized gains or losses until the contracts are closed. When the contracts are closed, the Portfolio records a realized gain or loss, which is presented in the Statement of Operations as a net realized gain or loss on futures, equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. Risks may arise upon entering into futures contracts from potential imperfect price correlations between the futures contracts and the underlying securities or indices, from the possibility of an illiquid secondary market for these instruments and from the possibility that the Portfolio could lose more than the initial margin requirements. The Portfolios entering into stock index futures are subject to equity price risk from those futures contracts. Counterparty credit risk related to exchange-traded futures is minimal because the exchange's clearinghouse, as counterparty to all exchange-traded futures, guarantees the futures against default. The following is a summary of Tax-Managed U.S. Targeted Value Portfolio's location and value of derivative instrument holdings on Tax-Managed U.S. Targeted Value Portfolio's Statement of Operations categorized by primary risk exposure for the year ended October 31, 2013 (amounts in thousands): Equity Location on the Statement of Operations Contracts --------------------------------------- --------- Tax-Managed U.S. Targeted Net Realized Gain (Loss) on: Futures $(469) Value Portfolio* * As of October 31, 2013, there were no futures contracts outstanding. During the year ended October 31, 2013, the Portfolio had limited activity in futures contracts. H. Line of Credit: The Fund, together with other Dimensional-advised portfolios, entered into a $250 million unsecured discretionary line of credit effective June 22, 2011 with The Bank of New York Mellon, which was terminated by The Bank of New York Mellon effective March 29, 2013. Prior to termination, each portfolio was permitted to borrow, subject to its investment limitations, up to a maximum of $250 million, as long as total borrowings under the line of credit did not exceed $250 million in the aggregate. Borrowings under the line of credit were charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio was individually, and not jointly, liable for its particular advances under the line of credit. There was no commitment fee on the unused portion of the line of credit. 56 The Fund, together with other Dimensional-advised portfolios, has entered into a $500 million unsecured discretionary line of credit effective March 4, 2013 with its domestic custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. There is no commitment fee on the unused portion of the line of credit. The agreement for the discretionary line of credit may be terminated by either party at any time. The line of credit is scheduled to expire on March 3, 2014. The Fund, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit effective January 11, 2013 with its international custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. There is no commitment fee on the unused portion of the line of credit. The agreement for the line of credit expires on January 10, 2014. For the year ended October 31, 2013, borrowings by the Portfolios under the lines of credit were as follows (amounts in thousands, except percentages and days): Weighted Weighted Number of Interest Maximum Amount Average Average Days Expense Borrowed During Interest Rate Loan Balance Outstanding* Incurred the Period ------------- ------------ ------------ -------- --------------- Tax-Managed U.S. Equity Portfolio........ 0.85% $1,956 5 -- $3,683 Tax-Managed U.S. Targeted Value Portfolio.............................. 0.91% 562 7 -- 1,904 Tax-Managed U.S. Small Cap Portfolio..... 0.91% 807 4 -- 1,055 T.A. U.S. Core Equity 2 Portfolio........ 0.86% 1,498 6 -- 1,731 Tax-Managed DFA International Value Portfolio.............................. 0.88% 622 13 -- 4,443 T.A. World ex U.S. Core Equity Portfolio. 0.87% 985 16 -- 3,685 * Number of Days Outstanding represents the total of single or consecutive days during the year ended October 31, 2013, that each Portfolio's available line of credit was utilized. There were no outstanding borrowings by the Portfolios under the lines of credit as of October 31, 2013. I. Securities Lending: As of October 31, 2013, some of the Portfolios had securities on loan to brokers/dealers, for which each such Portfolio received cash collateral. In addition, the following Portfolio received non-cash collateral consisting of short and/or long term U.S. Treasury securities (amounts in thousands): Market Value ------ T.A. World ex U.S. Core Equity Portfolio. $3,169 Each Portfolio with securities on loan invests the cash collateral, as described below, and records a liability for the return of the collateral, during the period the securities are on loan. Loans of securities are expected at all times to be secured by collateral equal to at least (i) 100% of the current market value of the loaned securities with respect to securities of the U.S. government or its agencies, (ii) 102% of the current market value of the loaned securities with respect to U.S. securities, and (iii) 105% of the current market value of the loaned securities with respect to foreign securities. However, daily market fluctuations could cause the Portfolios' collateral to be lower or higher than the expected thresholds. If this were to occur, the collateral would be adjusted the next business day to ensure adequate collateralization. In the event of default or bankruptcy by the other party to the agreement, realization and/or retention of the collateral may be subject to legal proceedings. If the borrower fails to return 57 loaned securities, and cash collateral being maintained by the borrower is insufficient to cover the value of loaned securities and provided such collateral insufficiency is not the result of investment losses, the lending agent has agreed to pay the amount of the shortfall to the Portfolio or, at the option of the lending agent, to replace the securities. Subject to their stated investment policies, the Portfolios with securities on loan will generally invest the cash collateral received for the loaned securities in The DFA Short Term Investment Fund (the "Money Market Series"), an affiliated registered money market fund advised by the Advisor for which the Advisor receives a management fee of 0.05% of the average daily net assets of the Money Market Series. Such Portfolios also may invest the cash collateral received for the loaned securities in securities of the U.S. government or its agencies, repurchase agreements collateralized by securities of the U.S. government or its agencies, and affiliated and unaffiliated registered and unregistered money market funds. For purposes of this paragraph, agencies include both agency debentures and agency mortgage-backed securities. In addition, each Portfolio with securities on loan will be able to terminate the loan at any time and will receive reasonable interest on the loan, as well as amounts equal to any dividends, interest or other distributions on the loaned securities. However, dividend income received from loaned securities may not be eligible to be taxed at qualified dividend income rates. J. Indemnitees; Contractual Obligations: Under the Fund's organizational documents, its officers and directors are indemnified against certain liabilities arising out of the performance of their duties to the Fund. In the normal course of business, the Fund enters into contracts that contain a variety of representations and warranties which provide general indemnification. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund and/or its affiliates that have not yet occurred. However, based on experience, the Fund expects the risk of loss to be remote. K. Recently Issued Accounting Standards: In January 2013, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") No. 2013-01 "Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities" ("ASU 2013-01") which amended Accounting Standards Codification Subtopic 210-20, Balance Sheet Offsetting. ASU 2013-01 clarified the scope of ASU No. 2011-11 "Disclosures about Offsetting Assets and Liabilities" ("ASU 2011-11"). ASU 2011-11 requires an entity to disclose information about offsetting and related arrangements to enable users of that entity's financial statements to understand the effect of those arrangements on its financial position. ASU 2013-01 clarifies the scope of ASU 2011-11 as applying to derivatives accounted for in accordance with Topic 815, Derivatives and Hedging, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are offset either in accordance with other requirements of GAAP or subject to an enforceable master netting arrangement or similar agreement. ASU No. 2011-11 is effective for annual periods beginning on or after January 1, 2013, and interim periods within those annual periods. Management is evaluating any impact ASU No. 2011-11 may have on the financial statements. 58 L. Other: At October 31, 2013, the following number of shareholders held the following approximate percentages of the stated fund outstanding shares. One or more of the shareholders may be omnibus accounts, which typically hold shares for the benefit of several other underlying investors. Approximate Percentage Number of of Outstanding Shareholders Shares ------------ -------------- Tax-Managed U.S. Marketwide Value Portfolio... 3 89% Tax-Managed U.S. Equity Portfolio............. 3 85% Tax-Managed U.S. Targeted Value Portfolio..... 3 95% Tax-Managed U.S. Small Cap Portfolio.......... 3 93% T.A. U.S. Core Equity 2 Portfolio............. 3 91% Tax-Managed DFA International Value Portfolio. 3 92% T.A. World ex U.S. Core Equity Portfolio...... 3 88% M. Subsequent Event Evaluations: On December 13, 2013, the Board of DFAIDG voted to approve the combination of the Investment Advisory Agreement and the Administration Agreement (together, the "Current Agreements") into a bundled Investment Management Agreement for the Tax-Managed U.S. Equity Portfolio. It is expected that the Investment Management Agreement will become effective on February 28, 2014. The nature and level of services to the Portfolio under the Investment Management Agreement will be the same as under the Current Agreements. When the Investment Management Agreement becomes effective, the Portfolio will pay the Advisor an investment management fee that is equal to the sum of the current investment advisory fee and current administration fee that is paid by the Portfolio to the Advisor under the Current Agreements. Management has evaluated the impact of all subsequent events on the Portfolios and has determined that there are no other subsequent events requiring recognition or disclosure in the financial statements. 59 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Shareholders of the Portfolios, as defined, and Board of Directors of DFA Investment Dimensions Group Inc.: In our opinion, the accompanying statements of assets and liabilities, including the schedule of investments/summary schedules of portfolio holdings, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of Tax-Managed U.S. Marketwide Value Portfolio, Tax-Managed U.S. Equity Portfolio, Tax-Managed U.S. Targeted Value Portfolio, Tax-Managed U.S. Small Cap Portfolio, T.A. U.S. Core Equity 2 Portfolio, Tax-Managed DFA International Value Portfolio, and T.A. World ex U.S. Core Equity Portfolio (constituting portfolios within DFA Investment Dimensions Group Inc., hereafter referred to as the "Portfolios") at October 31, 2013, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period then ended and the financial highlights for each of the five years in the period then ended, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as "financial statements") are the responsibility of the Portfolios' 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, 2013 by correspondence with the custodians, brokers, and transfer agents of the investee funds, provide a reasonable basis for our opinion. PricewaterhouseCoopers LLP Philadelphia, Pennsylvania December 20, 2013 60 THE DFA INVESTMENT TRUST COMPANY PERFORMANCE CHART (Unaudited) -------------------------------------------------------------------------------- THE TAX-MANAGED U.S. MARKETWIDE VALUE SERIES VS. RUSSELL 3000(R) VALUE INDEX October 31, 2003-October 31, 2013 [CHART] Growth of $10,000 The Tax-Managed U.S. Marketwide Value Series Russell 3000 Value Index ----------------------- ------------------------ 10/2003 $10,000 $10,000 11/2003 $10,271 $10,155 12/2003 $10,803 $10,760 01/2004 $11,039 $10,964 02/2004 $11,284 $11,197 03/2004 $11,266 $11,119 04/2004 $11,066 $10,823 05/2004 $11,153 $10,934 06/2004 $11,502 $11,215 07/2004 $11,100 $11,027 08/2004 $11,039 $11,180 09/2004 $11,441 $11,376 10/2004 $11,598 $11,564 11/2004 $12,376 $12,186 12/2004 $12,777 $12,583 01/2005 $12,507 $12,336 02/2005 $12,987 $12,731 03/2005 $12,856 $12,549 04/2005 $12,384 $12,289 05/2005 $12,926 $12,622 06/2005 $13,249 $12,796 07/2005 $13,965 $13,197 08/2005 $13,948 $13,118 09/2005 $14,201 $13,284 10/2005 $13,860 $12,947 11/2005 $14,410 $13,379 12/2005 $14,480 $13,443 01/2006 $15,284 $14,017 02/2006 $15,249 $14,094 03/2006 $15,607 $14,330 04/2006 $16,000 $14,663 05/2006 $15,546 $14,271 06/2006 $15,651 $14,370 07/2006 $15,555 $14,668 08/2006 $15,633 $14,931 09/2006 $15,939 $15,215 10/2006 $16,550 $15,738 11/2006 $16,961 $16,106 12/2006 $17,284 $16,447 01/2007 $17,738 $16,660 02/2007 $17,511 $16,406 03/2007 $17,712 $16,654 04/2007 $18,341 $17,229 05/2007 $19,205 $17,852 06/2007 $18,795 $17,435 07/2007 $17,773 $16,571 08/2007 $17,677 $16,769 09/2007 $18,122 $17,304 10/2007 $18,140 $17,321 11/2007 $17,074 $16,438 12/2007 $17,004 $16,281 01/2008 $16,332 $15,627 02/2008 $15,738 $14,975 03/2008 $15,450 $14,888 04/2008 $16,323 $15,594 05/2008 $16,690 $15,612 06/2008 $14,847 $14,119 07/2008 $14,734 $14,127 08/2008 $15,031 $14,402 09/2008 $13,755 $13,376 10/2008 $10,681 $11,030 11/2008 $ 9,624 $10,199 12/2008 $ 9,948 $10,379 01/2009 $ 8,655 $ 9,162 02/2009 $ 7,493 $ 7,934 03/2009 $ 8,279 $ 8,614 04/2009 $ 9,712 $ 9,573 05/2009 $10,445 $10,133 06/2009 $10,297 $10,062 07/2009 $11,354 $10,912 08/2009 $12,105 $11,478 09/2009 $12,646 $11,932 10/2009 $12,044 $11,533 11/2009 $12,603 $12,160 12/2009 $13,066 $12,430 01/2010 $12,699 $12,079 02/2010 $13,284 $12,475 03/2010 $14,332 $13,305 04/2010 $14,891 $13,699 05/2010 $13,616 $12,570 06/2010 $12,576 $11,830 07/2010 $13,581 $12,634 08/2010 $12,690 $12,061 09/2010 $13,956 $13,024 10/2010 $14,498 $13,424 11/2010 $14,533 $13,386 12/2010 $15,904 $14,447 01/2011 $16,297 $14,747 02/2011 $17,214 $15,308 03/2011 $17,328 $15,381 04/2011 $17,738 $15,777 05/2011 $17,459 $15,601 06/2011 $17,153 $15,276 07/2011 $16,428 $14,769 08/2011 $15,057 $13,816 09/2011 $13,528 $12,735 10/2011 $15,415 $14,222 11/2011 $15,293 $14,152 12/2011 $15,450 $14,432 01/2012 $16,253 $15,010 02/2012 $17,109 $15,579 03/2012 $17,476 $16,042 04/2012 $17,153 $15,873 05/2012 $15,948 $14,939 06/2012 $16,786 $15,679 07/2012 $16,934 $15,817 08/2012 $17,572 $16,171 09/2012 $18,201 $16,689 10/2012 $18,262 $16,598 11/2012 $18,376 $16,595 12/2012 $18,908 $16,964 01/2013 $20,157 $18,060 02/2013 $20,472 $18,315 03/2013 $21,485 $19,044 04/2013 $21,633 $19,308 05/2013 $22,341 $19,810 06/2013 $22,210 $19,642 Past performance is not predictive of 07/2013 $23,563 $20,718 future performance. 08/2013 $22,865 $19,922 09/2013 $23,703 $20,472 The returns shown do not reflect the 10/2013 $24,821 $21,350 deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Average Annual One Five Ten Total Return Year Years Years Russell data copyright (C) Russell ----------------------------------------------------- Investment Group 1995-2013, all rights 35.92% 18.37% 9.52% reserved. -------------------------------------------------------------------------------- 61 THE DFA INVESTMENT TRUST COMPANY MANAGEMENT'S DISCUSSION AND ANALYSIS U.S. Equity Market Review 12 Months Ended October 31, 2013 The one-year period ended October 31, 2013, was characterized by strong gains in U.S. equities. The broad U.S. equity market, as measured by the Russell 3000(R) Index, had positive returns in 10 of the 12 months. The size premium was positive during the period with small cap stocks outperforming large cap stocks as measured by the Russell indices. Micro cap stocks were the strongest performers. Total Return for 12 Months Ended October 31, 2013 ------------------------------------------------- Russell 3000(R) Index........................ 28.99% Russell Microcap(R) Index (micro cap stocks). 38.72% Russell 2000(R) Index (small cap stocks)..... 36.28% Russell 1000(R) Index (large cap stocks)..... 28.40% Dow Jones U.S. Select REIT Index/SM/......... 9.96% The value premium was negative in small cap stocks while the performance of large cap value and large cap growth was almost identical as measured by the Russell indices. Total Return for 12 Months Ended October 31, 2013 ------------------------------------------------- Russell 2000(R) Value Index (small cap value stocks)... 32.83% Russell 2000(R) Growth Index (small cap growth stocks). 39.84% Russell 1000(R) Value Index (large cap value stocks)... 28.29% Russell 1000(R) Growth Index (large cap growth stocks). 28.30% ---------- Source: Russell data copyright (C) Russell Investment Group 1995-2013, all rights reserved. Dimensional Fund Advisors LP ("Dimensional" or the "Advisor") believes that among the most important factors explaining differences in the behavior of diversified equity portfolios are the market capitalization and value/ growth characteristics of the portfolios' holdings. Value characteristics are a function of stock price relative to one or more fundamental characteristics such as book value, earnings, or dividends. For many Dimensional U.S. equity portfolios, differences in returns over the 12 months ended October 31, 2013, were primarily attributable to differences in value/growth and size characteristics as well as the exclusion of REIT securities from most Dimensional portfolios and the exclusion of securities of highly regulated utilities from most value strategies. For many portfolios, the construction approach used by Dimensional generally resulted in portfolios with greater weight in value or small cap and micro cap companies relative to widely used benchmarks. Domestic Equity Series' Performance Overview Tax-Managed U.S. Marketwide Value Series The Tax-Managed U.S. Marketwide Value Series seeks to capture the returns of U.S. value stocks. Value is measured primarily by book-to-market ratio. The Series also seeks to maximize the after-tax value of a shareholder's investment. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Series held approximately 1,300 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Series' assets. 62 For the 12 months ended October 31, 2013, total returns were 35.92% for the Series and 28.64% for the Russell 3000(R) Value Index. As a result of the Series' diversified investment approach, performance was determined principally by broad structural trends in the U.S. equity market rather than the behavior of a limited number of stocks. The Series had significantly greater exposure than the Index to stocks with lower valuations. These stocks generally outperformed, and the Series' higher weight helped relative performance. The Series invests in stocks across all size categories while the Index primarily holds large cap and mid-cap stocks. Small cap stocks outperformed during the period, and the Series' greater exposure to small caps benefited relative performance. The Series' exclusion of real estate investment trusts ("REITs") and highly regulated utilities contributed to outperformance relative to the Index as both sectors underperformed the overall Index during the period. 63 THE DFA INVESTMENT TRUST COMPANY DISCLOSURE OF FUND EXPENSES (Unaudited) The following Expense Tables are shown so that you can understand the impact of fees on your investment. All mutual funds have operating expenses. As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports, among others. Operating expenses, legal and audit services, which are deducted from a fund's gross income, directly reduce the investment return of the fund. A fund's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs, in dollars, of investing in the fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period. The Expense Tables below illustrate your fund's costs in two ways. Actual Fund Return This section helps you to estimate the actual expenses after fee waivers that you paid over the period. The "Ending Account Value" shown is derived from the fund's actual return and "Expenses Paid During Period" reflect the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. To do so, simply divide your account value by $1,000 (for example, a $7,500 account value divided by $1,000 = 7.5), then multiply the result by the number given for your fund under the heading "Expenses Paid During Period." Hypothetical Example for Comparison Purposes This section is intended to help you compare your fund's costs with those of other mutual funds. The hypothetical "Ending Account Value" and "Expenses Paid During Period" are derived from the fund's actual expense ratio and an assumed 5% annual return before expenses. In this case, because the return used is not the fund's actual return, the results do not apply to your investment. The example is useful in making comparisons because the SEC requires all mutual funds to calculate expenses based on a 5% annual return. You can assess your fund's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. Please note that the expenses shown in the tables are meant to highlight and help you compare ongoing costs only and do not reflect any transactional costs, if applicable. The "Annualized Expense Ratio" represents the actual expenses for the six-month period indicated. Six Months Ended October 31, 2013 EXPENSE TABLES Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/13 10/31/13 Ratio* Period* --------- --------- ---------- -------- The Tax-Managed U.S. Marketwide Value Series -------------------------------------------- Actual Fund Return $1,000.00 $1,147.40 0.21% $1.14 Hypothetical 5% Annual Return................ $1,000.00 $1,024.15 0.21% $1.07 ---------- * Expenses are equal to the fund's annualized expense ratio for the six-month period, multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period (184), then divided by the number of days in the year (365) to reflect the six-month period. 64 THE DFA INVESTMENT TRUST COMPANY DISCLOSURE OF PORTFOLIO HOLDINGS (Unaudited) The SEC requires that all funds file a complete Schedule of Investments with the SEC for their first and third fiscal quarters on Form N-Q. For The DFA Investment Trust Company, this would be for the fiscal quarters ending January 31 and July 31. The Form N-Q filing must be made within 60 days of the end of the quarter. The DFA Investment Trust Company filed its most recent Form N-Q with the SEC on September 27, 2013. It is available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room). SEC regulations permit a fund to include in its reports to shareholders a "Summary Schedule of Portfolio Holdings" in lieu of a full Schedule of Investments. The Summary Schedule of Portfolio Holdings reports the fund's 50 largest holdings in unaffiliated issuers and any investments that exceed one percent of the fund's net assets at the end of the reporting period. The amendments also require that the Summary Schedule of Portfolio Holdings identify each category of investments that is held. A fund is required to file a complete Schedule of Investments with the SEC on Form N-CSR within ten days after mailing the annual and semi-annual reports to shareholders. It will be available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room). PORTFOLIO HOLDINGS The SEC requires that all funds present their categories of portfolio holdings in a table, chart or graph format in their annual and semi-annual shareholder reports, whether or not a Schedule of Investments is utilized. The following table, which presents portfolio holdings as a percent of total investments before short-term investments and collateral for loaned securities, is provided in compliance with such requirement. The categories shown below represent broad industry sectors. Each industry sector consists of one or more specific industry classifications. DOMESTIC EQUITY PORTFOLIO The Tax-Managed U.S. Marketwide Value Series Consumer Discretionary....................... 18.9% Consumer Staples............................. 7.3% Energy....................................... 15.8% Financials................................... 18.9% Health Care.................................. 10.3% Industrials.................................. 14.2% Information Technology....................... 6.2% Materials.................................... 3.2% Other........................................ -- Real Estate Investment Trusts................ -- Telecommunication Services................... 4.9% Utilities.................................... 0.3% ----- 100.0% 65 THE TAX-MANAGED U.S. MARKETWIDE VALUE SERIES SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2013 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (95.6%) Consumer Discretionary -- (18.1%) Comcast Corp. Class A.................. 3,446,875 $ 164,002,312 3.7% Comcast Corp. Special Class A.......... 1,088,341 50,390,188 1.2% * General Motors Co...................... 674,707 24,930,424 0.6% * Liberty Interactive Corp. Class A...... 882,463 23,791,202 0.6% Time Warner Cable, Inc................. 693,942 83,377,131 1.9% Time Warner, Inc....................... 1,534,860 105,506,276 2.4% Twenty-First Century Fox, Inc. Class A. 1,287,383 43,874,013 1.0% Twenty-First Century Fox, Inc. Class B. 550,972 18,733,048 0.4% Other Securities....................... 310,888,189 7.0% -------------- ------ Total Consumer Discretionary............... 825,492,783 18.8% -------------- ------ Consumer Staples -- (7.0%) Archer-Daniels-Midland Co.............. 813,476 33,271,168 0.8% CVS Caremark Corp...................... 1,510,745 94,058,984 2.2% Mondelez International, Inc. Class A... 2,081,099 70,008,170 1.6% Other Securities....................... 122,020,688 2.7% -------------- ------ Total Consumer Staples..................... 319,359,010 7.3% -------------- ------ Energy -- (15.2%) Anadarko Petroleum Corp................ 845,068 80,526,530 1.8% Apache Corp............................ 289,715 25,726,692 0.6% Chevron Corp........................... 668,412 80,182,703 1.8% ConocoPhillips......................... 1,766,829 129,508,566 3.0% Hess Corp.............................. 378,130 30,704,156 0.7% Marathon Oil Corp...................... 903,937 31,872,819 0.7% Marathon Petroleum Corp................ 451,968 32,388,027 0.8% National Oilwell Varco, Inc............ 250,948 20,371,959 0.5% Phillips 66............................ 883,414 56,918,364 1.3% Pioneer Natural Resources Co........... 88,400 18,102,552 0.4% Valero Energy Corp..................... 605,899 24,944,862 0.6% Other Securities....................... 160,397,843 3.6% -------------- ------ Total Energy............................... 691,645,073 15.8% -------------- ------ Financials -- (18.0%) American International Group, Inc...... 849,581 43,880,859 1.0% Bank of America Corp................... 6,543,356 91,345,250 2.1% Capital One Financial Corp............. 356,632 24,489,919 0.6% Citigroup, Inc......................... 2,115,722 103,204,919 2.4% CME Group, Inc......................... 414,385 30,751,511 0.7% Goldman Sachs Group, Inc. (The)........ 143,685 23,113,169 0.5% JPMorgan Chase & Co.................... 1,148,419 59,189,515 1.4% MetLife, Inc........................... 1,126,173 53,279,245 1.2% Morgan Stanley......................... 1,476,248 42,412,605 1.0% Prudential Financial, Inc.............. 497,625 40,501,699 0.9% Other Securities....................... 310,800,746 7.0% -------------- ------ Total Financials........................... 822,969,437 18.8% -------------- ------ Health Care -- (9.8%) Aetna, Inc............................. 558,462 35,015,567 0.8% * Express Scripts Holding Co............. 493,239 30,837,302 0.7% Humana, Inc............................ 236,814 21,822,410 0.5% Pfizer, Inc............................ 3,950,849 121,212,047 2.8% Thermo Fisher Scientific, Inc.......... 499,520 48,843,066 1.1% WellPoint, Inc......................... 504,640 42,793,472 1.0% 66 THE TAX-MANAGED U.S. MARKETWIDE VALUE SERIES CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Health Care -- (Continued) Zoetis, Inc........................................ 1,007,044 $ 31,883,013 0.7% Other Securities................................... 116,226,691 2.6% -------------- ------ Total Health Care........................................ 448,633,568 10.2% -------------- ------ Industrials -- (13.6%) CSX Corp........................................... 1,242,950 32,391,277 0.8% FedEx Corp......................................... 142,324 18,644,444 0.4% General Electric Co................................ 5,021,489 131,261,722 3.0% Norfolk Southern Corp.............................. 545,229 46,900,599 1.1% Northrop Grumman Corp.............................. 337,038 36,234,955 0.8% Union Pacific Corp................................. 444,064 67,231,290 1.6% Other Securities................................... 286,950,482 6.4% -------------- ------ Total Industrials........................................ 619,614,769 14.1% -------------- ------ Information Technology -- (5.9%) Corning, Inc....................................... 1,201,485 20,533,379 0.5% * Yahoo!, Inc........................................ 1,048,770 34,535,996 0.8% Other Securities................................... 215,942,890 4.9% -------------- ------ Total Information Technology............................. 271,012,265 6.2% -------------- ------ Materials -- (3.1%) International Paper Co............................. 493,615 22,020,165 0.5% Other Securities................................... 118,633,840 2.7% -------------- ------ Total Materials.......................................... 140,654,005 3.2% -------------- ------ Other -- (0.0%) Other Securities................................... 54 0.0% -------------- ------ Real Estate Investment Trusts -- (0.0%) Other Securities................................... 235,004 0.0% -------------- ------ Telecommunication Services -- (4.6%) AT&T, Inc.......................................... 4,065,906 147,185,797 3.4% Verizon Communications, Inc........................ 547,535 27,655,993 0.6% Other Securities................................... 37,106,974 0.8% -------------- ------ Total Telecommunication Services......................... 211,948,764 4.8% -------------- ------ Utilities -- (0.3%) Other Securities................................... 14,803,017 0.3% -------------- ------ TOTAL COMMON STOCKS...................................... 4,366,367,749 99.5% -------------- ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... -- 0.0% -------------- ------ TEMPORARY CASH INVESTMENTS -- (0.5%) State Street Institutional Liquid Reserves, 0.073%. 22,324,026 22,324,026 0.5% -------------- ------ Shares/ Face Amount ------- - - (000) SECURITIES LENDING COLLATERAL -- (3.9%) (S)@ DFA Short Term Investment Fund..................... 15,381,037 177,958,599 4.0% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $2,775,925,201)................................... $4,566,650,374 104.0% ============== ====== 67 THE TAX-MANAGED U.S. MARKETWIDE VALUE SERIES CONTINUED Summary of the Series' investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): Investments in Securities (Market Value) -------------------------------------------------- Level 1 Level 2 Level 3 Total -------------- ------------ ------- -------------- Common Stocks Consumer Discretionary........ $ 825,492,783 -- -- $ 825,492,783 Consumer Staples.............. 319,359,010 -- -- 319,359,010 Energy........................ 691,645,073 -- -- 691,645,073 Financials.................... 822,962,861 $ 6,576 -- 822,969,437 Health Care................... 448,592,216 41,352 -- 448,633,568 Industrials................... 619,600,883 13,886 -- 619,614,769 Information Technology........ 271,012,265 -- -- 271,012,265 Materials..................... 140,654,005 -- -- 140,654,005 Other......................... -- 54 -- 54 Real Estate Investment Trusts. 235,004 -- -- 235,004 Telecommunication Services.... 211,948,764 -- -- 211,948,764 Utilities..................... 14,803,017 -- -- 14,803,017 Rights/Warrants................. -- -- -- -- Temporary Cash Investments...... 22,324,026 -- -- 22,324,026 Securities Lending Collateral... -- 177,958,599 -- 177,958,599 -------------- ------------ -- -------------- TOTAL........................... $4,388,629,907 $178,020,467 -- $4,566,650,374 ============== ============ == ============== See accompanying Notes to Financial Statements. 68 THE DFA INVESTMENT TRUST COMPANY THE TAX-MANAGED U.S. MARKETWIDE VALUE SERIES STATEMENT OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (Amounts in thousands) ASSETS: Investments at Value (including $172,330 of securities on loan).......... $4,366,368 Temporary Cash Investments at Value & Cost............................... 22,324 Collateral from Securities on Loan Invested in Affiliate at Value & Cost. 177,959 Cash..................................................................... 116 Receivables: Dividends and Interest................................................. 4,910 Securities Lending Income.............................................. 85 ---------- Total Assets........................................................ 4,571,762 ---------- LIABILITIES: Payables: Upon Return of Securities Loaned....................................... 177,959 Investment Securities Purchased........................................ 3,011 Due to Advisor......................................................... 729 Accrued Expenses and Other Liabilities................................... 308 ---------- Total Liabilities................................................... 182,007 ---------- NET ASSETS............................................................... $4,389,755 ========== Investments at Cost...................................................... $2,575,643 ========== See accompanying Notes to Financial Statements. 69 THE DFA INVESTMENT TRUST COMPANY THE TAX-MANAGED U.S. MARKETWIDE VALUE SERIES STATEMENT OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2013 (Amounts in thousands) Investment Income Dividends (Net of Foreign Taxes Withheld of $92).............. $ 77,058 Interest...................................................... 19 Income from Securities Lending................................ 700 ---------- Total Investment Income.................................... 77,777 ---------- Expenses Investment Advisory Services Fees............................. 7,684 Accounting & Transfer Agent Fees.............................. 264 Custodian Fees................................................ 45 Shareholders' Reports......................................... 12 Directors'/Trustees' Fees & Expenses.......................... 40 Professional Fees............................................. 116 Other......................................................... 54 ---------- Total Expenses............................................. 8,215 ---------- Net Investment Income (Loss).................................. 69,562 ---------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold.................................. 39,747 Change in Unrealized Appreciation (Depreciation) of: Investment Securities....................................... 1,056,586 ---------- Net Realized and Unrealized Gain (Loss)....................... 1,096,333 ---------- Net Increase (Decrease) in Net Assets Resulting from Operations. $1,165,895 ========== See accompanying Notes to Financial Statements. 70 THE DFA INVESTMENT TRUST COMPANY THE TAX-MANAGED U.S. MARKETWIDE VALUE SERIES STATEMENTS OF CHANGES IN NET ASSETS (Amounts in thousands) Year Year Ended Ended Oct. 31, Oct. 31, 2013 2012 ---------- ---------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss).......................................... $ 69,562 $ 61,545 Net Realized Gain (Loss) on: Investment Securities Sold.......................................... 39,747 64,448 Change in Unrealized Appreciation (Depreciation) of: Investment Securities............................................... 1,056,586 400,114 ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations.... 1,165,895 526,107 ---------- ---------- Transactions in Interest: Contributions......................................................... 285,068 96,522 Withdrawals........................................................... (367,684) (217,478) ---------- ---------- Net Increase (Decrease) from Transactions in Interest.............. (82,616) (120,956) ---------- ---------- Total Increase (Decrease) in Net Assets............................ 1,083,279 405,151 Net Assets Beginning of Year..................................................... 3,306,476 2,901,325 ---------- ---------- End of Year........................................................... $4,389,755 $3,306,476 ========== ========== See accompanying Notes to Financial Statements. 71 THE DFA INVESTMENT TRUST COMPANY THE TAX-MANAGED U.S. MARKETWIDE VALUE SERIES FINANCIAL HIGHLIGHTS Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2011 2010 2009 ----------------------------------------------------- ----------------------------------------------------------- Total Return......................................... 35.92% 18.47% 6.33% 20.38% 12.76% ----------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).................. $4,389,755 $3,306,476 $2,901,325 $2,670,673 $2,289,927 Ratio of Expenses to Average Net Assets.............. 0.21% 0.22% 0.22% 0.22% 0.23% Ratio of Net Investment Income to Average Net Assets. 1.82% 1.99% 1.61% 1.40% 2.23% Portfolio Turnover Rate.............................. 5% 10% 20% 25% 28% ----------------------------------------------------------------------------------------------------------------- See accompanying Notes to Financial Statements. 72 THE DFA INVESTMENT TRUST COMPANY THE TAX-MANAGED U.S. MARKETWIDE VALUE SERIES NOTES TO FINANCIAL STATEMENTS A. Organization: The DFA Investment Trust Company (the "Trust") is an open-end management investment company registered under the Investment Company Act of 1940, The Trust consists of eleven operational portfolios, one of which, The Tax-Managed U.S. Marketwide Value Series (the "Series"), is presented in this section of the report. The remaining ten portfolios are presented in separate reports. B. Significant Accounting Policies: The following significant accounting policies are in conformity with accounting principles generally accepted in the United States of America. Such policies are consistently followed by the Trust in preparation of its financial statements. The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the fair value of investments, the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates and those differences could be material. 1. Security Valuation: The Series utilizes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels described below: . Level 1 - inputs are quoted prices in active markets for identical securities (including equity securities, open-end investment companies, futures contracts) . Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) . Level 3 - significant unobservable inputs (including the Series' own assumptions in determining the fair value of investments) Securities held by the Series, including over-the-counter securities, are valued at the last quoted sale price at the close of the exchanges on which they are principally traded (official closing price). Securities held by the Series that are listed on Nasdaq are valued at the Nasdaq Official Closing Price ("NOCP"). If there is no last reported sale price or NOCP for the day, the Series values the securities at the mean of the most recent quoted bid and asked prices which approximate fair value. Price information on listed securities is taken from the exchange where the security is primarily traded. Generally, securities issued by open-end investment companies are valued using their respective net asset values or public offering prices, as appropriate, for purchase orders placed at the close of the New York Stock Exchange (NYSE). These securities are generally categorized as Level 1 in the hierarchy. Securities for which no market quotations are readily available (including restricted securities), or for which market quotations have become unreliable, are valued in good faith at fair value in accordance with procedures adopted by the Board. Fair value pricing may also be used if events that have a significant effect on the value of an investment (as determined in the discretion of the Investment Committee of Dimensional Fund Advisors LP) occur before the net asset value is calculated. When fair value pricing is used, the prices of securities used by the Series may differ from the quoted or published prices for the same securities on their primary markets or exchanges. These securities are generally categorized as Level 2 in the hierarchy. Futures contracts held by the Series are valued using the settlement price established each day on the exchange on which they are traded. These valuations are generally categorized as Level 1 in the hierarchy. A summary of the inputs used to value the Series' investments by each major security type, industry and/or country is disclosed previously in this note. Valuation hierarchy tables have been included at the end of the Summary Schedule of Portfolio Holdings. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. 73 For the year ended October 31, 2013, there were no significant transfers between Level 1 and Level 2 and no Level 3 investments held by the Series. 2. Deferred Compensation Plan: Each eligible Director/Trustee of the Trust may elect participation in The Fee Deferral Plan for Independent Directors and Trustees (the "Plan"). Under the Plan, effective January 1, 2002, such Directors/Trustees may defer payment of all or a portion of their total fees earned as a Director/Trustee. These deferred amounts may be treated as though such amounts had been invested in shares of the following funds: U.S. Large Cap Value Portfolio; U.S. Core Equity 1 Portfolio; U.S. Core Equity 2 Portfolio; U.S. Vector Equity Portfolio; U.S. Micro Cap Portfolio; DFA International Value Portfolio; International Core Equity Portfolio; Emerging Markets Portfolio; Emerging Markets Core Equity Portfolio; and/or DFA Two-Year Global Fixed Income Portfolio. Contributions made under the Plan and the change in unrealized appreciation (depreciation) and income are included in Directors'/Trustees' Fees & Expenses. At October 31, 2013, the total liability for deferred compensation to Trustees is included in Accrued Expenses and Other Liabilities on the Statement of Assets and Liabilities in the amount of $102 (in thousands). Each Director/Trustee has the option to receive their distribution of proceeds in one of the following methods: lump sum; annual installments over a period of agreed upon years; or quarterly installments over a period of agreed upon years. Each Director/Trustee shall have the right in a notice of election (the "Notice") to defer the receipt of the Director's/Trustee's deferred compensation until a date specified by such Director/Trustee in the Notice, which date may not be sooner than the earlier of: (i) the first business day of January following the year in which such Director/Trustee ceases to be a member of the Board; and (ii) five years following the effective date of the Director's/Trustee's first deferral election. If a Director/Trustee who elects to defer fees fails to designate in the Notice a time or date as of which payment of the Director's/Trustee's deferred fee account shall commence, payment of such amount shall commence as of the first business day of January following the year in which the Director/Trustee ceases to be a member of the Board (unless the Director/Trustee files an amended Notice selecting a different distribution date). As of October 31, 2013, none of the Directors/Trustees have requested or received a distribution of proceeds of a deferred fee account. 3. Other: Security transactions are accounted for as of the trade date. Costs used in determining realized gains and losses on the sale of investment securities are on the basis of identified cost. Dividend income and distributions to shareholders are recorded on the ex-dividend date. Distributions received on securities that represent a return of capital or capital gains are recorded as a reduction of cost of investments or as a realized gain, respectively. The Series estimates the character of distributions received that may be considered return of capital distributions. Interest income is recorded on an accrual basis. Discount and premium on debt securities purchased are amortized over the lives of the respective securities, utilizing the effective interest method. Expenses directly attributable to the Series are directly charged. Common expenses of the Trust or its Series are allocated using methods approved by the Board, generally based on average net assets. C. Investment Advisor: The Advisor, Dimensional Fund Advisors LP, provides investment advisory services to the Series. For the year ended October 31, 2013, the Series' investment advisory services fees were accrued daily and paid monthly to the Advisor based on an effective annual rate of 0.20% of average daily net assets of the Series. Fees Paid to Officers and Directors/Trustees: Certain Officers and Directors/Trustees of the Advisor are also Officers and Directors/Trustees of the Trust; however, such Officers and Directors/Trustees (with the exception of the Chief Compliance Officer ("CCO")) receive no compensation from the Trust. For the year ended October 31, 2013, the total related amounts paid to the CCO by the Trust were $56 (in thousands). The total related amounts paid by the Series is included in Other Expenses on the Statement of Operations. 74 D. Purchases and Sales of Securities: For the year ended October 31, 2013, the Series made the following purchases and sales of investment securities, other than short-term securities and U.S. government securities (amounts in thousands): Purchases Sales --------- -------- The Tax-Managed U.S. Marketwide Value Series. $199,899 $176,761 There were no purchases or sales of long-term U.S. government securities. E. Federal Income Taxes: The Series is treated as a partnership for federal income tax purposes and therefore, no provision for federal income taxes is required. Any net investment income and realized and unrealized gains and losses have been deemed to have been "passed down" to their respective partners. At October 31, 2013, the total cost and aggregate gross unrealized appreciation (depreciation) of securities for federal income tax purposes were different from amounts reported for financial reporting purposes (amounts in thousands): Net Unrealized Federal Unrealized Unrealized Appreciation Tax Cost Appreciation (Depreciation) (Depreciation) ---------- ------------ -------------- -------------- Tax Managed U.S. Marketwide Value Series. $2,776,577 $1,834,742 $(44,668) $1,790,074 The difference between book basis and tax-basis unrealized appreciation (depreciation) is primarily attributable to the tax deferral of losses on wash sales. Accounting for Uncertainty in Income Taxes sets forth a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. Management has analyzed the Series' tax positions and has concluded that no additional provision for income tax is required in the Series' financial statements. The Series is not aware of any tax positions for which it is more likely than not that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. The Series' federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service. F. Financial Instruments: In accordance with the Series' investment objective and policies, the Series may invest in certain financial instruments that have off-balance sheet risk in excess of the amounts recognized in the financial statements and concentrations of credit and market risk. These instruments and their significant corresponding risks are described below: 1. Repurchase Agreements: The Series may purchase certain U.S. Government securities subject to the counterparty's agreement to repurchase them at an agreed upon date and price. The counterparty will be required on a daily basis to maintain the value of the collateral subject to the agreement at not less than the repurchase price (including accrued interest). The agreements are conditioned upon the collateral being deposited under the Federal Reserve book-entry system with the Series' custodian or a third party sub-custodian. In the event of default or bankruptcy by the other party to the agreement, retention of the collateral may be subject to legal proceedings. G. Line of Credit: The Trust, together with other Dimensional-advised portfolios, entered into a $250 million unsecured discretionary line of credit effective June 22, 2011 with The Bank of New York Mellon, which was terminated by The Bank of New York Mellon effective March 29, 2013. Prior to termination, each portfolio was permitted to borrow, subject to its investment limitations, up to a maximum of $250 million, as long as total borrowings under the line of credit did not exceed $250 million in the aggregate. Borrowings under the line of credit were charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio was individually, and not jointly, liable 75 for its particular advances under the line of credit. There was no commitment fee on the unused portion of the line of credit. The Trust, together with other Dimensional-advised portfolios, has entered into a $500 million unsecured discretionary line of credit effective March 4, 2013 with its domestic custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. There is no commitment fee on the unused portion of the line of credit. The agreement for the discretionary line of credit may be terminated by either party at any time. The line of credit is scheduled to expire on March 3, 2014. The Trust, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit effective January 11, 2013 with its international custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. There is no commitment fee on the unused portion of the line of credit. The agreement for the line of credit expires on January 10, 2014. For the year ended October 31, 2013, borrowings by the Series under the lines of credit were as follows (amounts in thousands, except percentages and days): Weighted Weighted Number of Interest Maximum Amount Average Average Days Expense Borrowed During Interest Rate Loan Balance Outstanding* Incurred the Period ------------- ------------ ------------ -------- --------------- The Tax-Managed U.S. Marketwide Value Series.............................. 0.91% $1,887 13 $1 $4,797 * Number of Days Outstanding represents the total of single or consecutive days during the year ended October 31, 2013, that the Series' available line of credit was utilized. There were no outstanding borrowings by the Series under the lines of credit as of October 31, 2013. H. Securities Lending: As of October 31, 2013, the Series had securities on loan to brokers/dealers, for which the Series received cash collateral. The Series invests the cash collateral, as described below, and records a liability for the return of the collateral, during the period the securities are on loan. Loans of securities are expected at all times to be secured by collateral equal to at least (i) 100% of the current market value of the loaned securities with respect to securities of the U.S. government or its agencies, (ii) 102% of the current market value of the loaned securities with respect to U.S. securities, and (iii) 105% of the current market value of the loaned securities with respect to foreign securities. However, daily market fluctuations could cause the Series' collateral to be lower or higher than the expected thresholds. If this were to occur, the collateral would be adjusted the next business day to ensure adequate collateralization. In the event of default or bankruptcy by the other party to the agreement, realization and/or retention of the collateral may be subject to legal proceedings. If the borrower fails to return loaned securities, and cash collateral being maintained by the borrower is insufficient to cover the value of loaned securities and provided such collateral insufficiency is not the result of investment losses, the lending agent has agreed to pay the amount of the shortfall to the Series or, at the option of the lending agent, to replace the securities. Subject to its stated investment policies, the Series will generally invest the cash collateral received for the loaned securities in The DFA Short Term Investment Fund (the "Money Market Series"), an affiliated registered money market fund advised by the Advisor for which the Advisor receives a management fee of 0.05% of the average daily net assets of the Money Market Series. The Series also may invest the cash collateral received for the loaned securities in securities of the U.S. government or its agencies, repurchase agreements collateralized by securities of the U.S. government or its agencies, and affiliated and unaffiliated registered and unregistered money 76 market funds. For purposes of this paragraph, agencies include both agency debentures and agency mortgage-backed securities. In addition, the Series will be able to terminate the loan at any time and will receive reasonable interest on the loan, as well as amounts equal to any dividends, interest or other distributions on the loaned securities. However, dividend income received from loaned securities may not be eligible to be taxed at qualified dividend income rates. I. Indemnitees; Contractual Obligations: Under the Trust's organizational documents, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust. In the normal course of business, the Trust enters into contracts that contain a variety of representations and warranties which provide general indemnification. The Trust's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust and/or its affiliates that have not yet occurred. However, based on experience, the Trust expects the risk of loss to be remote. J. Recently Issued Accounting Standards: In January 2013, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") No. 2013-01 "Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities" ("ASU 2013-01") which amended Accounting Standards Codification Subtopic 210-20, Balance Sheet Offsetting. ASU 2013-01 clarified the scope of ASU No. 2011-11 "Disclosures about Offsetting Assets and Liabilities" ("ASU 2011-11"). ASU 2011-11 requires an entity to disclose information about offsetting and related arrangements to enable users of that entity's financial statements to understand the effect of those arrangements on its financial position. ASU 2013-01 clarifies the scope of ASU 2011-11 as applying to derivatives accounted for in accordance with Topic 815, Derivatives and Hedging, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are offset either in accordance with other requirements of GAAP or subject to an enforceable master netting arrangement or similar agreement. ASU No. 2011-11 is effective for annual periods beginning on or after January 1, 2013, and interim periods within those annual periods. Management is evaluating any impact ASU No. 2011-11 may have on the financial statements. K. Other: On December 13, 2013, the Board of DFAIDG voted to approve the combination of the Investment Advisory Agreement and the Administration Agreement (together, the "Current Agreements") into a bundled Investment Management Agreement for each of the following Fund: the Tax-Managed U.S. Equity Portfolio. It is expected that the Investment Management Agreement will become effective on February 28, 2014. The nature and level of services to the Fund under the Investment Management Agreement will be the same as under the Current Agreements. When the Investment Management Agreement becomes effective, the Fund will pay the Advisor an investment management fee that is equal to the sum of the current investment advisory fee and current administration fee that is paid by the Fund to the Advisor under the Current Agreements. L. Subsequent Event Evaluations: Management has evaluated the impact of all subsequent events on the Series and has determined that there are no subsequent events requiring recognition or disclosure in the financial statements. 77 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Shareholders of The Tax-Managed U.S. Marketwide Value Series and Board of Trustees of The DFA Investment Trust Company: In our opinion, the accompanying statement of assets and liabilities, including the summary schedule of portfolio holdings, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of The Tax-Managed U.S. Marketwide Value Series (constituting a portfolio within The DFA Investment Trust Company, hereafter referred to as the "Series") at October 31, 2013, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then and the financial highlights for each of the five years in the period then ended, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as "financial statements") are the responsibility of the Series' 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, 2013 by correspondence with the custodian, broker, and the transfer agent of the investee fund, provide a reasonable basis for our opinion. PricewaterhouseCoopers LLP Philadelphia, Pennsylvania December 20, 2013 78 FUND MANAGEMENT (Unaudited) Trustees/Directors Each Board of Trustees/Directors (each, the "Board" and collectively, the "Boards") of The DFA Investment Trust Company ("DFAITC"), DFA Investment Dimensions Group Inc. ("DFAIDG"), Dimensional Investment Group Inc. ("DIG") and Dimensional Emerging Markets Value Fund ("DEM") (each, the "Fund" and collectively, the "Funds") is responsible for establishing the Funds' policies and for overseeing the management of the Funds. The Trustees/Directors of the Funds, including all of the disinterested Trustees/Directors, have adopted written procedures to monitor potential conflicts of interest that might develop between portfolios of the Funds (the "Feeder Portfolios") that invest in certain series of DFAITC or DEM (the "Master Funds"). Each Board has three standing committees, an Audit Committee, a Nominating Committee, and an Investment Review Committee (the "Review Committee"). The Audit Committee is comprised of George M. Constantinides, Roger G. Ibbotson and Abbie J. Smith. Each member of the Audit Committee is a disinterested Trustee/Director. The Audit Committee oversees the Fund's accounting and financial reporting policies and practices, the Fund's internal controls, the Fund's financial statements and the independent audits thereof and performs other oversight functions as requested by the Board. The Audit Committee recommends the appointment of each Fund's independent registered certified public accounting firm and also acts as a liaison between the Fund's independent registered certified public accounting firm and the full Board. There were two Audit Committee meetings held during the fiscal year ended October 31, 2013. Each Board's Nominating Committee is comprised of George M. Constantinides, John P. Gould, Roger G. Ibbotson, Myron S. Scholes, Edward P. Lazear and Abbie J. Smith. Each member of the Nominating Committee is a disinterested Trustee/Director. The Nominating Committee for each Board makes recommendations for nominations of disinterested and interested members on the Board to the full Board. The Nominating Committee evaluates a candidate's qualification for Board membership and the independence of such candidate from the Advisor and other principal service providers. There was one Nominating Committee meeting held during the fiscal year ended October 31, 2013. Each Board's Review Committee consists of both interested and disinterested Trustees/Directors. The Review Committee is comprised of John P. Gould, Edward P. Lazear, Myron S. Scholes and Eduardo A. Repetto. The Review Committee assists the Board in carrying out its fiduciary duties with respect to the oversight of the Fund and its performance. At the request of the Board or the Advisor, the Review Committee may (i) review the design of possible new series of the Fund, (ii) review performance of existing portfolios of the Fund and discuss and recommend possible enhancements to the portfolios' investment strategies, (iii) review proposals by the Advisor to modify or enhance the investment strategies or policies of each portfolio, and (iv) consider issues relating to investment services for each portfolio of the Fund. The Review Committee was formed on December 17, 2010, and there were two Review Committee meetings held during the fiscal year ended October 31, 2013. Certain biographical information for each disinterested Trustee/Director and each interested Trustee/Director of the Funds is set forth in the tables below, including a description of each Trustee/Director's experience as a Trustee/ Director of the Funds and as a director or trustee of other funds, as well as other recent professional experience. The statements of additional information (together, "SAI") of the Funds include additional information about each Trustee/Director. You may obtain copies of the SAI and prospectus of each Fund advised by Dimensional Fund Advisors LP by calling collect (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746. Prospectuses are also available at www.dimensional.com. 79 Name, Position Portfolios within the with the Fund, Term of Office/1/ and DFA Fund Complex/2/ Principal Occupation(s) During Past 5 Years and Address and Year of Birth Length of Service Overseen Other Directorships of Public Companies Held ------------------------------------------------------------------------------------------------------------------------------- Disinterested Trustees/Directors ------------------------------------------------------------------------------------------------------------------------------- George M. Constantinides Since Inception 106 portfolios in 4 Leo Melamed Professor of Finance, The University Director of DFAIDG and investment companies of Chicago Booth School of Business. DIG. Trustee of DFAITC and DEM. The University of Chicago Booth School of Business 5807 S. Woodlawn Avenue Chicago, IL 60637 1947 ------------------------------------------------------------------------------------------------------------------------------- John P. Gould Since Inception 106 portfolios in 4 Steven G. Rothmeier Distinguished Service Director of DFAIDG and investment companies Professor of Economics, The University of Chicago DIG. Trustee of DFAITC Booth School of Business (since 1965). Member and and DEM. Chair, Competitive Markets Advisory Committee, The University of Chicago Chicago Mercantile Exchange (futures trading Booth School of Business exchange) (since 2004). Formerly, Director of UNext, 5807 S. Woodlawn Inc. (1999-2006). Trustee, Harbor Fund (registered Avenue investment company) (30 Portfolios) (since 1994). Chicago, IL 60637 Formerly, Member of the Board of Milwaukee Mutual 1939 Insurance Company (1997-2010). ------------------------------------------------------------------------------------------------------------------------------- Roger G. Ibbotson Since Inception 106 portfolios in 4 Professor in Practice of Finance, Yale School of Director of DFAIDG and investment companies Management (since 1984). Chairman, CIO and DIG. Trustee of DFAITC Partner, Zebra Capital Management, LLC (hedge and DEM. fund manager) (since 2001). Consultant to Yale School of Morningstar, Inc. (since 2006). Formerly, Chairman, Management Ibbotson Associates, Inc., Chicago, IL (software data P.O. Box 208200 publishing and consulting) (1977-2006). Formerly, New Haven, Director, BIRR Portfolio Analysis, Inc. (software CT 06520-8200 products) (1990-2010). 1943 ------------------------------------------------------------------------------------------------------------------------------- Edward P. Lazear Since Inception 106 portfolios in 4 Morris Arnold Cox Senior Fellow, Hoover Institution Director of DFAIDG and investment companies (since 2002). Jack Steele Parker Professor of DIG. Trustee of DFAITC Human Resources Management and Economics, and DEM. Graduate School of Business, Stanford University Stanford University (since 1995). Cornerstone Research (expert Graduate School of testimony and economic and financial analysis) Business (since 2009). Formerly, Chairman of the President 518 Memorial Way George W. Bush's Council of Economic Advisers Stanford, CA 94305-5015 (2006-2009). Formerly, Council of Economic 1948 Advisors, State of California (2005-2006). Formerly, Commissioner, White House Panel on Tax Reform (2005). ------------------------------------------------------------------------------------------------------------------------------- Myron S. Scholes Since Inception 106 portfolios in 4 Frank E. Buck Professor Emeritus of Finance, Director of DFAIDG and investment companies Stanford University (since 1981). Formerly, DIG. Trustee of DFAITC Chairman, Platinum Grove Asset Management, L.P. and DEM. (hedge fund) (formerly, Oak Hill Platinum Partners) c/o Dimensional Fund (1999-2009). Formerly, Managing Partner, Oak Hill Advisors, LP Capital Management (private equity firm) (until 6300 Bee Cave Road 2004). Director, American Century Fund Complex Building 1 (registered investment companies) (40 Portfolios) Austin, TX 78746 (since 1980). Formerly, Director, Chicago Mercantile 1941 Exchange (2001-2008). ------------------------------------------------------------------------------------------------------------------------------- Abbie J. Smith Since Inception 106 portfolios in 4 Boris and Irene Stern Distinguished Service Director of DFAIDG and investment companies Professor of Accounting, The University of Chicago DIG. Booth School of Business (since 1980). Co-Director Trustee of DFAITC and Investment Research, Fundamental Investment DEM. Advisors (hedge fund) (since 2008). Director, HNI The University of Chicago Corporation (formerly known as HON Industries Inc.) Booth School of Business (office furniture) (since 2000). Director, Ryder 5807 S. Woodlawn System Inc. (transportation, logistics and supply- Avenue chain management) (since 2003). Trustee, UBS Chicago, IL 60637 Funds (4 investment companies within the fund 1953 complex) (52 portfolios) (since 2009). 80 Name, Position Portfolios within the with the Fund, Term of Office/1/ and DFA Fund Complex/2/ Principal Occupation(s) During Past 5 Years and Address and Year of Birth Length of Service Overseen Other Directorships of Public Companies Held ------------------------------------------------------------------------------------------------------------------------------- Interested Trustees/Directors* ------------------------------------------------------------------------------------------------------------------------------- David G. Booth Since Inception 106 portfolios in 4 Chairman, Director/Trustee, President, and Co-Chief Chairman, Director, investment companies Executive Officer (since January 2010) of Co-Chief Executive Dimensional Holdings Inc., Dimensional Fund Officer and President of Advisors LP, DFA Securities LLC, DEM, DFAIDG, DFAIDG and DIG. DIG and DFAITC. Director of Dimensional Fund Chairman, Trustee, Advisors Ltd., Dimensional Funds PLC, Dimensional Co-Chief Executive Funds II PLC, DFA Australia Limited, Dimensional Officer and President of Cayman Commodity Fund I Ltd., Dimensional Japan DFAITC and DEM. Ltd. and Dimensional Advisors Ltd. Chairman, 6300 Bee Cave Road, Director and Co-Chief Executive Officer of Building One Austin, Dimensional Fund Advisors Canada ULC. President, Texas 78746 Dimensional SmartNest (US) LLC. Limited Partner, 1946 Oak Hill Partners (since 2001) and VSC Investors, LLC (since 2007). Trustee, The University of Chicago. Trustee, University of Kansas Endowment Association. Formerly, Chief Executive Officer (until 2010) and Chief Investment Officer (2003-2007) of Dimensional Fund Advisors LP, DFA Securities LLC, DEM, DFAIDG, DIG , DFAITC, Dimensional Holdings Inc. Formerly, Chief Investment Officer of Dimensional Fund Advisors Ltd. Formerly, President and Chief Investment Officer of DFA Australia Limited. Formerly, Director, SA Funds (registered investment company). ------------------------------------------------------------------------------------------------------------------------------- Eduardo A. Repetto Since 2009 106 portfolios in 4 Co-Chief Executive Officer (since January 2010), Director, Co-Chief investment companies Chief Investment Officer (since March 2007) and Executive Officer and Director/Trustee of Dimensional Holdings Inc., Chief Investment Officer Dimensional Fund Advisors LP, DFA Securities LLC, of DFAIDG and DIG. DEM, DFAIDG, DIG, DFAITC and Dimensional Trustee, Co-Chief Cayman Commodity Fund I Ltd. Director, Co-Chief Executive Officer and Executive Officer, President and Chief Investment Chief Investment Officer Officer of Dimensional Fund Advisors Canada ULC. of DFAITC and DEM. Chief Investment Officer, Vice President and Director 6300 Bee Cave Road, of DFA Australia Limited. Director of Dimensional Building One Fund Advisors Ltd., Dimensional Funds PLC, Austin, TX 78746 Dimensional Funds II PLC, Dimensional Japan Ltd. 1967 and Dimensional Advisors Ltd., Formerly President of Dimensional Holdings Inc, Dimensional Fund Advisors LP, DFA Securities LLC, DEM, DFAIDG, DIG, DFAITC and Dimensional Fund Advisors Canada ULC. /1/ Each Trustee/Director holds office for an indefinite term until his or her successor is elected and qualified. /2/ Each Trustee/Director is a director or trustee of each of the four registered investment companies within the DFA Fund Complex, which includes the Funds. * Interested Trustees/Directors are described as such because they are deemed to be "interested persons," as that term is defined under the Investment Company Act of 1940, as amended, due to their positions with Dimensional Fund Advisors LP. 81 Officers The name, year of birth, information regarding positions with the Funds and the principal occupation for each officer of the Funds are set forth below. Each officer listed below holds the same office (except as otherwise noted) in the following entities: Dimensional Fund Advisors LP (prior to November 3, 2006, Dimensional Fund Advisors Inc.) ("Dimensional"), Dimensional Holdings Inc., DFA Securities LLC (prior to April 6, 2009, DFA Securities Inc.), DFAIDG, DIG, DFAITC and DEM (collectively, the "DFA Entities"). The address of each officer is: Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, unless otherwise indicated. Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years ------------------------------------------------------------------------------------------------------------------------- Officers ------------------------------------------------------------------------------------------------------------------------- April A. Aandal Since 2008 Vice President of all the DFA Entities. Vice President 1963 ------------------------------------------------------------------------------------------------------------------------- Robyn G. Alcorta Since 2012 Vice President of all the DFA Entities. Formerly, Vice President Vice President Business Development at Capson Physicians Insurance Company 1974 (2010-2012); Vice President at Charles Schwab (2007-2010). ------------------------------------------------------------------------------------------------------------------------- Darryl D. Avery Since 2005 Vice President of all the DFA Entities. Vice President 1966 ------------------------------------------------------------------------------------------------------------------------- Arthur H. Barlow Since 1993 Vice President of all the DFA Entities. Director and Managing Vice President Director of DFAL (since September 2013). 1955 ------------------------------------------------------------------------------------------------------------------------- Scott A. Bosworth Since 2007 Vice President of all the DFA Entities. Vice President 1968 ------------------------------------------------------------------------------------------------------------------------- Valerie A. Brown Since 2001 Vice President and Assistant Secretary of all the DFA Entities, DFA Vice President and Assistant Australia Limited, Dimensional Fund Advisors Ltd., Dimensional Secretary Cayman Commodity Fund I Ltd., Dimensional Fund Advisors Pte. 1967 Ltd., Dimensional Hong Kong Limited. Director, Vice President and Assistant Secretary of Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------------- David P. Butler Since 2007 Vice President of all the DFA Entities. Head of Global Financial Vice President Services of Dimensional (since 2008). 1964 ------------------------------------------------------------------------------------------------------------------------- Douglas M. Byrkit Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (December 2010-January2012); Regional Director 1970 at Russell Investments (April 2006-December 2010). ------------------------------------------------------------------------------------------------------------------------- James G. Charles Since 2011 Vice President of all the DFA Entities. Formerly, Regional Director for Vice President Dimensional (2008-2010); Vice President, Client Portfolio Manager at 1956 American Century Investments (2001-2008). ------------------------------------------------------------------------------------------------------------------------- Joseph H. Chi Since 2009 Vice President of all the DFA Entities. Co-Head of Portfolio Vice President Management of Dimensional (since March 2012). Sr. Portfolio 1966 Manager of Dimensional (since January 2012). Formerly, Portfolio Manager for Dimensional (October 2005-January 2012). ------------------------------------------------------------------------------------------------------------------------- Stephen A. Clark Since 2004 Vice President of all the DFA Entities, DFA Australia Limited and Vice President Dimensional Fund Advisors Canada ULC. Head of Institutional, 1972 North America (since March 2012). Formerly, Head of Portfolio Management of Dimensional (January 2006-March 2012). ------------------------------------------------------------------------------------------------------------------------- Matt B. Cobb Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since September 2011). Formerly, Vice President at 1971 MullinTBG 92005-2011). ------------------------------------------------------------------------------------------------------------------------- Ryan Cooper Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since 2003). 1979 ------------------------------------------------------------------------------------------------------------------------- Jeffrey D. Cornell Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (August 2002-January 2012). 1976 82 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years --------------------------------------------------------------------------------------------------------------------------- Robert P. Cornell Since 2007 Vice President of all the DFA Entities. Vice President 1949 --------------------------------------------------------------------------------------------------------------------------- George H. Crane Since 2010 Vice President of all the DFA Entities. Formerly, Senior Vice Vice President President and Managing Director at State Street Bank & Trust 1955 Company (2007-2008). --------------------------------------------------------------------------------------------------------------------------- Christopher S. Crossan Since 2004 Vice President and Global Chief Compliance Officer of all the DFA Vice President and Global Chief Entities, DFA Australia Limited, Dimensional Fund Advisors Ltd., Compliance Officer and Dimensional SmartNest (US) LLC. Chief Compliance Officer of 1965 Dimensional Fund Advisors Canada ULC. --------------------------------------------------------------------------------------------------------------------------- James L. Davis Since 1999 Vice President of all the DFA Entities. Vice President 1956 --------------------------------------------------------------------------------------------------------------------------- Robert T. Deere Since 1994 Vice President of all the DFA Entities, DFA Australia Limited and Vice President Dimensional Fund Advisors Canada ULC. 1957 --------------------------------------------------------------------------------------------------------------------------- Peter F. Dillard Since 2010 Vice President of all the DFA Entities. Research Associate for Vice President Dimensional (since August 2008). 1972 --------------------------------------------------------------------------------------------------------------------------- Robert W. Dintzner Since 2001 Vice President of all the DFA Entities. Vice President 1970 --------------------------------------------------------------------------------------------------------------------------- Richard A. Eustice Since 1998 Vice President and Assistant Secretary of all the DFA Entities and Vice President and Assistant DFA Australia Limited. Secretary 1965 --------------------------------------------------------------------------------------------------------------------------- Gretchen A. Flicker Since 2004 Vice President of all the DFA Entities. Vice President 1971 --------------------------------------------------------------------------------------------------------------------------- Jed S. Fogdall Since 2008 Vice President of all the DFA Entities. Co-Head of Portfolio Vice President Management of Dimensional (since March 2012). Sr. Portfolio 1974 Manager of Dimensional (since January 2012). --------------------------------------------------------------------------------------------------------------------------- Jeremy P. Freeman Since 2009 Vice President of all the DFA Entities. Senior Technology Manager Vice President for Dimensional (since June 2006). 1970 --------------------------------------------------------------------------------------------------------------------------- Mark R. Gochnour Since 2007 Vice President of all the DFA Entities. Vice President 1967 --------------------------------------------------------------------------------------------------------------------------- Tom M. Goodrum Since 2012 Vice President of all the DFA Entities. Formerly, Managing Director Vice President at BlackRock (2004-January 2012). 1968 --------------------------------------------------------------------------------------------------------------------------- Henry F. Gray Since 2000 Vice President of all the DFA Entities. Vice President 1967 --------------------------------------------------------------------------------------------------------------------------- John T. Gray Since 2007 Vice President of all the DFA Entities. Vice President 1974 --------------------------------------------------------------------------------------------------------------------------- Christian Gunther Since 2011 Vice President of all the DFA Entities. Senior Trader for Vice President Dimensional (since 2012). Formerly, Senior Trader for Dimensional 1975 Fund Advisors Ltd. (2009-2012); Trader for Dimensional Fund Ltd. (2008-2009); Trader for Dimensional (2004-2008). --------------------------------------------------------------------------------------------------------------------------- Joel H. Hefner Since 2007 Vice President of all the DFA Entities. Vice President 1967 --------------------------------------------------------------------------------------------------------------------------- Julie C. Henderson Since 2005 Vice President and Fund Controller of all the DFA Entities, Vice President and Fund Controller Dimensional Cayman Commodity Fund I Ltd. and Dimensional 1974 Japan Ltd. 83 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years ---------------------------------------------------------------------------------------------------------------------- Kevin B. Hight Since 2005 Vice President of all the DFA Entities. Vice President 1967 ---------------------------------------------------------------------------------------------------------------------- Christine W. Ho Since 2004 Vice President of all the DFA Entities. Vice President 1967 ---------------------------------------------------------------------------------------------------------------------- Michael C. Horvath Since 2011 Vice President of all the DFA Entities. Formerly, Managing Director, Vice President Co-Head Global Consultant Relations at BlackRock (2004-2011). 1960 ---------------------------------------------------------------------------------------------------------------------- William A. Irvine Since 2013 Vice President of all the DFA Entities, Regional Director For Vice President Dimensional (since 2012). Formerly, Vice President of Institutional 1957 Business Development at Eaton Vance (2005-2011). ---------------------------------------------------------------------------------------------------------------------- Jeff J. Jeon Since 2004 Vice President of all the DFA Entities and Dimensional Cayman Vice President Commodity Fund I Ltd. 1973 ---------------------------------------------------------------------------------------------------------------------- Stephen W. Jones Since 2012 Vice President of all the DFA Entities. Formerly, Facilities Manager Vice President for Dimensional (October 2008-January 2012). 1968 ---------------------------------------------------------------------------------------------------------------------- Patrick M. Keating Since 2003 Vice President and Chief Operating Officer of all the DFA Entities, Vice President Dimensional Cayman Commodity Fund I Ltd., Dimensional Japan 1954 Ltd., Dimensional Advisors Ltd., Dimensional Hong Kong Limited and Chief Operating Officer of Dimensional. Director, Vice President and Chief Privacy Officer of Dimensional Fund Advisors Canada ULC. Director of DFA Australia Limited, Dimensional Fund Advisors Ltd., Dimensional Japan Ltd. and Dimensional Advisors Ltd. Director and Vice President of Dimensional Hong Kong Limited and Dimensional Fund Advisors Pte. Ltd. ---------------------------------------------------------------------------------------------------------------------- Andrew K. Keiper Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since October 2004). 1977 ---------------------------------------------------------------------------------------------------------------------- Glenn E. Kemp Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional Fund Advisors LP (April 2006-January 2012). 1948 ---------------------------------------------------------------------------------------------------------------------- David M. Kershner Since 2010 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since June 2004). 1971 ---------------------------------------------------------------------------------------------------------------------- Timothy R. Kohn Since 2011 Vice President of all the DFA Entities. Head of Defined Contribution Vice President Sales for Dimensional (since August 2010). Formerly, Chief DC 1971 Strategist, Barclays Global Investors (2005-2009). ---------------------------------------------------------------------------------------------------------------------- Joseph F. Kolerich Since 2004 Vice President of all the DFA Entities. Sr. Portfolio Manager of Vice President Dimensional (since January 2012).Formerly, Portfolio Manager for 1971 Dimensional (April 2001-January 2012). ---------------------------------------------------------------------------------------------------------------------- Mark D. Krasniewski Since 2013 Vice President of all the DFA Entities. Formerly, Senior Associate Vice President Investment Analytics and Data for Dimensional (January 2012- 1981 December 2012); Systems Developer for Dimensional (June 2007- December 2011). ---------------------------------------------------------------------------------------------------------------------- Stephen W. Kurad Since 2011 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (2007-2010). 1968 ---------------------------------------------------------------------------------------------------------------------- Michael F. Lane Since 2004 Vice President of all the DFA Entities. Chief Executive Officer of Vice President Dimensional SmartNest (US) LLC (since 2012). 1967 ---------------------------------------------------------------------------------------------------------------------- Francis R. Lao Since 2011 Vice President of all the DFA Entities. Formerly, Vice President - Vice President Global Operations at Janus Capital Group (2005-2011). 1969 ---------------------------------------------------------------------------------------------------------------------- David F. LaRusso Since 2013 Vice President of all the DFA Entities. Formerly, Senior Trader for Vice President Dimensional (January 2010-December 2012); Trader for 1978 Dimensional (2000-2009). 84 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years --------------------------------------------------------------------------------------------------------------------------- Juliet H. Lee Since 2005 Vice President of all the DFA Entities. Vice President 1971 --------------------------------------------------------------------------------------------------------------------------- Marlena I. Lee Since 2011 Vice President of all the DFA Entities. Formerly, Research Vice President Associate for Dimensional (July 2008-2010). 1980 --------------------------------------------------------------------------------------------------------------------------- John B. Lessley Since 2013 Vice President of all the DFA Entities. Regional Director Vice President for Dimensional (since January 2008). 1960 --------------------------------------------------------------------------------------------------------------------------- Apollo D. Lupescu Since 2009 Vice President of all the DFA Entities. Regional Director Vice President for Dimensional (since February 2004). 1969 --------------------------------------------------------------------------------------------------------------------------- Kenneth M. Manell Since 2010 Vice President of all the DFA Entities and Dimensional Vice President Cayman Commodity Fund I Ltd. Counsel for Dimensional (since 1972 September 2006). --------------------------------------------------------------------------------------------------------------------------- Rose C. Manziano Since 2013 Vice President of all the DFA Entities. Regional Director Vice President for Dimensional (Since August 2010). Formerly, Vice 1971 President, Sales and Business Development at AdvisorsIG (PPMG) (2009- 2010); Vice President at Credit Suisse (2007-2009). --------------------------------------------------------------------------------------------------------------------------- Aaron M. Marcus Since 2008 Vice President of all the DFA Entities and Head of Global Vice President & Head of Global Human Resources of Dimensional. Human Resources 1970 --------------------------------------------------------------------------------------------------------------------------- David R. Martin Since 2007 Vice President, Chief Financial Officer and Treasurer of Vice President, Chief Financial Officer all the DFA Entities. Director, Vice President, Chief and Treasurer Financial Officer and Treasurer of Dimensional Fund 1956 Advisors Ltd., DFA Australia Limited, Dimensional Advisors Ltd., Dimensional Fund Advisors Pte. Ltd., Dimensional Hong Kong Limited and Dimensional Fund Advisors Canada ULC. Chief Financial Officer, Treasurer, and Vice President of Dimensional SmartNest (US) LLC, and Dimensional Cayman Commodity Fund I Ltd. Director of Dimensional Funds PLC and Dimensional Funds II PLC. Statutory Auditor of Dimensional Japan Ltd. --------------------------------------------------------------------------------------------------------------------------- Matthew H. Miller Since 2013 Vice President of all the DFA Entities. Client Service Vice President Manager for Dimensional (Since 2012). Formerly, Regional 1978 Director for Dimensional (2008-2011; Senior Associate at Dimensional (2007-2010). --------------------------------------------------------------------------------------------------------------------------- Jonathan G. Nelson Since 2013 Vice President of all the DFA Entities. Manager, Investment Vice President Systems at Dimensional (Since 2011). Formerly, Project 1971 Manager for Dimensional (2007-2010). --------------------------------------------------------------------------------------------------------------------------- Catherine L. Newell Vice President since Vice President and Secretary of all the DFA Entities. Vice President and Secretary 1997 and Secretary Director, Vice President and Secretary of DFA Australia 1964 since 2000 Limited and Dimensional Fund Advisors Ltd. (since February 2002, April 1997 and May 2002, respectively). Vice President and Secretary of Dimensional Fund Advisors Canada ULC (since June 2003), Dimensional SmartNest (US) LLC, Dimensional Cayman Commodity Fund I Ltd., Dimensional Japan Ltd. (since February 2012), Dimensional Advisors Ltd. (since March 2012), Dimensional Fund Advisors Pte. Ltd. (since June 2012) and Dimensional Hong Kong Limited (since August 2012). Director, Dimensional Funds PLC and Dimensional Funds II PLC (since 2002 and 2006, respectively). Director of Dimensional Japan Ltd., Dimensional Advisors Ltd., Dimensional Fund Advisors Pte. Ltd. and Dimensional Hong Kong Limited (since August 2012 and July 2012). --------------------------------------------------------------------------------------------------------------------------- Pamela B. Noble Since 2011 Vice President of all the DFA Entities. Portfolio Manager Vice President for Dimensional (2008-2010). 1964 --------------------------------------------------------------------------------------------------------------------------- Selwyn J. Notelovitz Since 2012 Vice President of all DFA Entities. Deputy Chief Compliance Vice President Officer of Dimensional (since December 2012). Formerly 1961 Chief Compliance Officer of Wellington Management Company, LLP (2004-2011). 85 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years ----------------------------------------------------------------------------------------------------------------------- Carolyn L. O Since 2010 Vice President of all the DFA Entities and Dimensional Cayman Vice President Commodity Fund I Ltd. Deputy General Counsel, Funds (since 1974 2011). Counsel for Dimensional (2007-2011). ----------------------------------------------------------------------------------------------------------------------- Gerard K. O'Reilly Since 2007 Vice President of all the DFA Entities. Vice President 1976 ----------------------------------------------------------------------------------------------------------------------- Daniel C. Ong Since 2009 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since July 2005). 1973 ----------------------------------------------------------------------------------------------------------------------- Kyle K. Ozaki Since 2010 Vice President of all the DFA Entities. Senior Compliance Officer for Vice President Dimensional (since January 2008). Formerly, Compliance Officer 1978 (February 2006-December 2007). ----------------------------------------------------------------------------------------------------------------------- Matthew A. Pawlak Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional Fund Advisors LP (since 2012). Formerly, Senior 1977 Consultant at Hewitt EnnisKnupp (June 2011-December 2011); Senior Investment Analyst and Consultant at Hewitt EnnisKnupp (July 2008-June 2011). ----------------------------------------------------------------------------------------------------------------------- Brian P. Pitre Since 2013 Vice President of all the DFA Entities. Counsel for Dimensional Vice President Fund Advisors LP (since 2009). Formerly, Vice President and 1976 Corporate Counsel at Mellon Capital Management (2006-2008). ----------------------------------------------------------------------------------------------------------------------- David A. Plecha Since 1993 Vice President of all the DFA Entities, DFA Australia Limited, Vice President Dimensional Fund Advisors Ltd. and Dimensional Fund Advisors 1961 Canada ULC. ----------------------------------------------------------------------------------------------------------------------- Allen Pu Since 2011 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since July 2006). 1970 ----------------------------------------------------------------------------------------------------------------------- Theodore W. Randall Since 2008 Vice President of all the DFA Entities. Formerly, Research Vice President Associate of Dimensional (2006-2008). 1973 ----------------------------------------------------------------------------------------------------------------------- Mark A. Regier Since 2013 Vice President of all the DFA Entities. Planning and Analysis Vice President Manager for Dimensional (since July 2007). 1969 ----------------------------------------------------------------------------------------------------------------------- Savina B. Rizova Since 2012 Vice President of all the DFA Entities. Formerly, Research Vice President Associate for Dimensional (June 2011-January 2012); Research 1981 Assistant for Dimensional (July 2004-August 2007). ----------------------------------------------------------------------------------------------------------------------- L. Jacobo Rodriguez Since 2005 Vice President of all the DFA Entities. Vice President 1971 ----------------------------------------------------------------------------------------------------------------------- Julie A. Saft Since 2010 Vice President of all the DFA Entities. Client Systems Manager for Vice President Dimensional (since July 2008). 1959 ----------------------------------------------------------------------------------------------------------------------- Walid A. Shinnawi Since 2010 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (March 2006-January 2010). 1961 ----------------------------------------------------------------------------------------------------------------------- Bruce A. Simmons Since 2009 Vice President of all the DFA Entities. Investment Operations Vice President Manager for Dimensional (since May 2007). 1965 ----------------------------------------------------------------------------------------------------------------------- Ted R. Simpson Since 2007 Vice President of all the DFA Entities. Vice President 1968 ----------------------------------------------------------------------------------------------------------------------- Bryce D. Skaff Since 2007 Vice President of all the DFA Entities. Vice President 1975 ----------------------------------------------------------------------------------------------------------------------- Andrew D. Smith Since 2011 Vice President of all the DFA Entities. Project Manager for Vice President Dimensional (2007-2010). 1968 ----------------------------------------------------------------------------------------------------------------------- Grady M. Smith Since 2004 Vice President of all the DFA Entities and Dimensional Fund Vice President Advisors Canada ULC. 1956 86 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years --------------------------------------------------------------------------------------------------------------------- Carl G. Snyder Since 2000 Vice President of all the DFA Entities. Vice President 1963 --------------------------------------------------------------------------------------------------------------------- Lawrence R. Spieth Since 2004 Vice President of all the DFA Entities. Vice President 1947 --------------------------------------------------------------------------------------------------------------------- Bradley G. Steiman Since 2004 Vice President of all the DFA Entities and Director and Vice Vice President President of Dimensional Fund Advisors Canada ULC. 1973 --------------------------------------------------------------------------------------------------------------------- Richard H. Tatlow Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since April 2010). Formerly, Principal, Investment 1971 Strategist at Barclays Global Investors (2004-2009). --------------------------------------------------------------------------------------------------------------------- Blake T. Tatsuta Since 2013 Vice President of all the DFA Entities, Manager, Investment Vice President Analytics and Data for Dimensional (since 2012). Formerly, 1973 Research Assistant at Dimensional (2002-2011). --------------------------------------------------------------------------------------------------------------------- Erik T. Totten Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since 2010). Formerly, Senior Associate at 1980 Dimensional (2007-2009). --------------------------------------------------------------------------------------------------------------------- John H. Totten Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (January 2008-January 2012). 1978 --------------------------------------------------------------------------------------------------------------------- Robert C. Trotter Since 2009 Vice President of all the DFA Entities. Senior Manager, Technology Vice President for Dimensional (since March 2007). 1958 --------------------------------------------------------------------------------------------------------------------- Karen E. Umland Since 1997 Vice President of all the DFA Entities, DFA Australia Limited, Vice President Dimensional Fund Advisors Ltd., and Dimensional Fund Advisors 1966 Canada ULC. --------------------------------------------------------------------------------------------------------------------- Brian J. Walsh Since 2009 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since 2004). 1970 --------------------------------------------------------------------------------------------------------------------- Weston J. Wellington Since 1997 Vice President of all the DFA Entities. Vice President 1951 --------------------------------------------------------------------------------------------------------------------- Ryan J. Wiley Since 2007 Vice President of all the DFA Entities. Vice President 1976 --------------------------------------------------------------------------------------------------------------------- Paul E. Wise Since 2005 Vice President of all the DFA Entities. Vice President 1955 --------------------------------------------------------------------------------------------------------------------- Joseph L. Young Since 2011 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (2005-2010). 1978 /1/ Each officer holds office for an indefinite term at the pleasure of the Boards of Trustees/Directors and until his or her successor is elected and qualified. 87 VOTING PROXIES ON FUND PORTFOLIO SECURITIES A description of the policies and procedures that the Fund uses in voting proxies relating to securities held in the portfolio is available without charge, upon request, by calling collect: (512) 306-7400. Information regarding how the Advisor votes these proxies is available from the EDGAR database on the SEC's website at http://www.sec.gov and from the Advisor's website at http://www.dimensional.com and reflects the twelve-month period beginning July 1st and ending June 30th. 88 NOTICE TO SHAREHOLDERS (Unaudited) For shareholders that do not have an October 31, 2013 tax year end, this notice is for informational purposes only. For shareholders with an October 31, 2013 tax year end, please consult your tax advisor as to the pertinence of this notice. For the fiscal year November 1, 2012 to October 31, 2013, each Portfolio is designating the following items with regard to distributions paid during the fiscal year. All designations are based on financial information available as of the date of this annual report and, accordingly are subject to change. For each item, it is the intention of the Portfolio to designate the maximum amount permitted under the Internal Revenue Code and the regulations thereunder. Qualifying For Net Corporate DFA Investment Investment Short-Term Long-Term Dividends Qualifying Foreign Foreign Dimensions Group Income Capital Gain Capital Gain Total Received Dividend Tax Source Inc. Distributions Distributions Distributions Distributions Deduction(1) Income(2) Credit(3) Income(4) ---------------- ------------- ------------- ------------- ------------- ------------ ---------- --------- --------- Tax-Managed U.S. Marketwide Value Portfolio......... 100% -- -- 100% 100% 100% -- 3% Tax-Managed U.S. Equity Portfolio.. 100% -- -- 100% 100% 100% -- -- Tax-Managed U.S. Targeted Value Portfolio......... 39% -- 61% 100% 100% 100% -- -- Tax-Managed U.S. Small Cap Portfolio......... 100% -- -- 100% 100% 100% -- -- T.A. U.S. Core Equity 2 Portfolio......... 93% -- 7% 100% 100% 100% -- -- Tax-Managed DFA International Value Portfolio... 100% -- -- 100% 100% 100% 8% 100% T.A. World ex U.S. Core Equity Portfolio......... 99% -- 1% 100% 100% 100% 7% 100% Qualifying Short- DFA Investment Qualifying Term Dimensions Group Interest Capital Inc. Income(5) Gain(6) ---------------- ---------- ---------- Tax-Managed U.S. Marketwide Value Portfolio......... 100% 100% Tax-Managed U.S. Equity Portfolio.. 100% 100% Tax-Managed U.S. Targeted Value Portfolio......... 100% 100% Tax-Managed U.S. Small Cap Portfolio......... 100% 100% T.A. U.S. Core Equity 2 Portfolio......... 100% 100% Tax-Managed DFA International Value Portfolio... 100% 100% T.A. World ex U.S. Core Equity Portfolio......... 100% 100% (1)Qualifying dividends represent dividends which qualify for the corporate dividends received deduction and is reflected as a percentage of ordinary income distributions (the total of short-term capital gain and net investment income distributions). (2)The percentage in this column represents the amount of "Qualifying Dividend Income" as created by the Jobs and Growth Tax Relief Reconciliation Act of 2003 and is reflected as a percentage of ordinary income distributions (the total of short-term capital gain and net investment income distributions). Please note that these percentages are designated only, refer to your 1099 for actual qualified dividend income. (3)"Foreign Tax Credit" represents dividends which qualify for the foreign tax credit pass through and is reflected as a percentage of investment company taxable income. (4)"Foreign Source Income" represents the portion of dividends derived from foreign sources, and is reflected as a percentage of investment company taxable income. (5)The percentage in this column represents the amount of "Qualifying Interest Income" as created by The American Jobs Creation Act of 2004. The information is reflected as a percentage ordinary income distributions (the total of short-term capital gain and net investment income distributions). (6)The percentage in this column represents the amount of "Qualifying Short-Term Capital Gain" as created by The American Jobs Creation Act of 2004. The information is reflected as a percentage of ordinary income distributions (the total of short-term capital gain and net investment income distributions). 89 [LOGO] DFA103113-002A [LOGO] ANNUAL REPORT year ended: October 31, 2013 DFA Investment Dimensions Group Inc. CSTG&E U.S. Social Core Equity 2 Portfolio CSTG&E International Social Core Equity Portfolio [LOGO] Dimensional Fund Advisors 6300 Bee Cave Road, Building One Austin, TX 78746 November 2013 Dear Fellow Shareholder, Our goal at Dimensional is to deliver an outstanding investment experience to our clients. Our close ties to academia help us identify leading research that can be beneficial to investors, and our team works to interpret, rigorously test, and consider the practical applicability of those ideas in carefully implemented investment strategies. This focus on research and implementation has been central to Dimensional's approach since our founding and will continue to be a key part of our offer to investors. Sincerely, /s/ David G. Booth Chairman and Co-Chief Executive Officer DFA INVESTMENT DIMENSIONS GROUP INC. ANNUAL REPORT Table of Contents Page ---- Letter to Shareholders Definitions of Abbreviations and Footnotes................... 1 Performance Charts........................................ 2 Management's Discussion and Analysis...................... 3 Disclosure of Fund Expenses............................... 5 Disclosure of Portfolio Holdings.......................... 6 Summary Schedules of Portfolio Holdings................... CSTG&E U.S. Social Core Equity 2 Portfolio............ 7 CSTG&E International Social Core Equity Portfolio..... 10 Statements of Assets and Liabilities...................... 14 Statements of Operations.................................. 15 Statements of Changes in Net Assets....................... 16 Financial Highlights...................................... 17 Notes to Financial Statements............................. 18 Report of Independent Registered Public Accounting Firm... 26 Fund Management.............................................. 27 Voting Proxies on Fund Portfolio Securities.................. 36 Notice to Shareholders....................................... 37 This report is submitted for the information of the Fund's shareholders. It is not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus. i DFA INVESTMENT DIMENSIONS GROUP INC. DEFINITIONS OF ABBREVIATIONS AND FOOTNOTES Summary Schedules of Portfolio Holdings --------------------------------------- Investment Abbreviations ADR American Depositary Receipt FNMA Federal National Mortgage Association P.L.C. Public Limited Company Investment Footnotes + See Note B to Financial Statements. ++ Securities have generally been fair valued. See Note B to Financial Statements. ** Calculated as a percentage of total net assets. Percentages shown parenthetically next to the category headings have been calculated as a percentage of total investments. "Other Securities" are those securities that are not among the top 50 holdings of the Fund or do not represent more than 1.0% of the net assets of the Fund. Some of the individual securities within this category may include Total or Partial Securities on Loan and/or Non-Income Producing Securities. * Non-Income Producing Securities. # Total or Partial Securities on Loan. @ Security purchased with cash proceeds from Securities on Loan. (S) Affiliated Fund. Financial Highlights -------------------- (A) Computed using average shares outstanding. All Statements, Schedules and Notes to Financial Statements ----------------------------------------------------------- -- Amounts designated as -- are either zero or rounded to zero. REIT Real Estate Investment Trust SEC Securities and Exchange Commission 1 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- CSTG&E U.S. SOCIAL CORE EQUITY 2 PORTFOLIO VS. RUSSELL 3000(R) INDEX August 3, 2007-October 31, 2013 [CHART] CSTG&E U.S. Social Core Equity 2 Portfolio Russell 3000(R) Index ----------------------- --------------------- 8/3/2007 $10,000 $10,000 8/31/2007 10,230 10,310 9/30/2007 10,523 10,686 10/31/2007 10,663 10,882 11/30/2007 10,042 10,392 12/31/2007 9,971 10,329 1/31/2008 9,437 9,703 2/29/2008 9,146 9,402 3/31/2008 9,120 9,346 4/30/2008 9,634 9,814 5/31/2008 9,896 10,015 6/30/2008 9,011 9,188 7/31/2008 8,941 9,115 8/31/2008 9,123 9,256 9/30/2008 8,257 8,386 10/31/2008 6,640 6,899 11/30/2008 6,020 6,354 12/31/2008 6,159 6,476 1/31/2009 5,492 5,932 2/28/2009 4,866 5,311 3/31/2009 5,340 5,776 4/30/2009 6,134 6,384 5/31/2009 6,422 6,725 6/30/2009 6,385 6,747 7/31/2009 6,975 7,273 8/31/2009 7,244 7,532 9/30/2009 7,612 7,848 10/31/2009 7,321 7,646 11/30/2009 7,664 8,081 12/31/2009 7,986 8,311 1/31/2010 7,694 8,011 2/28/2010 8,049 8,283 3/31/2010 8,629 8,805 4/30/2010 8,995 8,995 5/31/2010 8,284 8,284 6/30/2010 7,690 7,808 7/31/2010 8,309 8,350 8/31/2010 7,805 7,957 9/30/2010 8,605 8,709 10/31/2010 8,942 9,049 11/30/2010 9,132 9,101 12/31/2010 9,844 9,718 1/31/2011 10,045 9,930 2/28/2011 10,490 10,292 3/31/2011 10,636 10,338 4/30/2011 10,848 10,646 5/31/2011 10,625 10,524 6/30/2011 10,436 10,335 7/31/2011 10,117 10,099 8/31/2011 9,329 9,493 9/30/2011 8,415 8,756 10/31/2011 9,589 9,764 11/30/2011 9,546 9,738 12/31/2011 9,614 9,818 1/31/2012 10,141 10,313 2/29/2012 10,560 10,749 3/31/2012 10,823 11,081 4/30/2012 10,705 11,008 5/31/2012 9,963 10,328 6/30/2012 10,333 10,732 7/31/2012 10,387 10,839 8/31/2012 10,722 11,109 9/30/2012 11,024 11,401 10/31/2012 10,926 11,204 11/30/2012 11,013 11,291 12/31/2012 11,261 11,429 1/31/2013 11,950 12,056 2/28/2013 12,114 12,216 3/31/2013 12,601 12,695 4/30/2013 12,645 12,903 5/31/2013 13,116 13,207 6/30/2013 12,977 13,036 7/31/2013 13,748 13,750 Past performance is not predictive of 8/31/2013 13,307 13,366 future performance. 9/30/2013 13,889 13,863 10/31/2013 14,452 14,452 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Average Annual One Five From Total Return Year Years 08/03/2007 Russell data copyright (C) Russell -------------------------------------------------------- Investment Group 1995-2013, all rights 32.27% 16.83% 6.08% reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- CSTG&E INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO VS. MSCI WORLD EX USA INDEX (NET DIVIDENDS) August 3, 2007-October 31, 2013 [CHART] CSTG&E International MSCI World ex USA Index Social Core Equity Portfolio (net dividends) ---------------------------- ----------------------- 8/3/2007 $10,000 $10,000 8/31/2007 9,990 10,002 9/30/2007 10,473 10,571 10/31/2007 11,003 11,030 11/30/2007 10,433 10,599 12/31/2007 10,184 10,400 1/31/2008 9,389 9,462 2/29/2008 9,400 9,633 3/31/2008 9,451 9,496 4/30/2008 9,874 10,024 5/31/2008 10,045 10,176 6/30/2008 9,124 9,384 7/31/2008 8,755 9,051 8/31/2008 8,396 8,700 9/30/2008 7,384 7,444 10/31/2008 5,737 5,896 11/30/2008 5,417 5,576 12/31/2008 5,817 5,870 1/31/2009 5,141 5,322 2/28/2009 4,589 4,783 3/31/2009 4,984 5,099 4/30/2009 5,724 5,756 5/31/2009 6,568 6,484 6/30/2009 6,507 6,417 7/31/2009 7,140 7,020 8/31/2009 7,552 7,356 9/30/2009 7,910 7,660 10/31/2009 7,645 7,537 11/30/2009 7,867 7,723 12/31/2009 7,938 7,846 1/31/2010 7,597 7,478 2/28/2010 7,608 7,471 3/31/2010 8,169 7,952 4/30/2010 8,127 7,833 5/31/2010 7,177 6,969 6/30/2010 7,056 6,868 7/31/2010 7,834 7,503 8/31/2010 7,488 7,279 9/30/2010 8,283 7,977 10/31/2010 8,586 8,261 11/30/2010 8,218 7,911 12/31/2010 9,006 8,548 1/31/2011 9,246 8,732 2/28/2011 9,551 9,056 3/31/2011 9,379 8,875 4/30/2011 9,893 9,358 5/31/2011 9,565 9,080 6/30/2011 9,431 8,951 7/31/2011 9,187 8,804 8/31/2011 8,388 8,059 9/30/2011 7,457 7,250 10/31/2011 8,103 7,955 11/30/2011 7,858 7,587 12/31/2011 7,648 7,505 1/31/2012 8,234 7,910 2/29/2012 8,650 8,345 3/31/2012 8,635 8,283 4/30/2012 8,432 8,142 5/31/2012 7,417 7,214 6/30/2012 7,865 7,687 7/31/2012 7,842 7,782 8/31/2012 8,140 8,004 9/30/2012 8,418 8,247 10/31/2012 8,498 8,305 11/30/2012 8,636 8,480 12/31/2012 9,036 8,736 1/31/2013 9,408 9,166 2/28/2013 9,315 9,075 3/31/2013 9,413 9,146 4/30/2013 9,796 9,563 5/31/2013 9,530 9,349 6/30/2013 9,247 8,999 7/31/2013 9,825 9,477 8/31/2013 9,719 9,355 Past performance is not predictive of 9/30/2013 10,484 10,017 future performance. 10/31/2013 10,839 10,353 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the Average Annual One Five From redemption of fund shares. Total Return Year Years 08/03/2007 --------------------------------------------------------- MSCI data copyright MSCI 2013, all 27.54% 13.57% 1.30% rights reserved. -------------------------------------------------------------------------------- 2 DFA INVESTMENT DIMENSIONS GROUP INC. MANAGEMENT'S DISCUSSION AND ANALYSIS U.S. Equity Market Review 12 Months Ended October 31, 2013 The one-year period ended October 31, 2013, was characterized by strong gains in U.S. equities. The broad U.S. equity market, as measured by the Russell 3000(R) Index, had positive returns in 10 of the 12 months. The size premium was positive during the period with small cap stocks outperforming large cap stocks as measured by the Russell indices. Micro cap stocks were the strongest performers. Total Return for 12 Months Ended October 31, 2013 ------------------------------------------------- Russell 3000(R) Index........................ 28.99% Russell Microcap(R) Index (micro cap stocks). 38.72% Russell 2000(R) Index (small cap stocks)..... 36.28% Russell 1000(R) Index (large cap stocks)..... 28.40% Dow Jones U.S. Select REIT Index/SM/......... 9.96% The value premium was negative in small cap stocks while the performance of large cap value and large cap growth was almost identical as measured by the Russell indices. Total Return for 12 Months Ended October 31, 2013 ------------------------------------------------- Russell 2000(R) Value Index (small cap value stocks)... 32.83% Russell 2000(R) Growth Index (small cap growth stocks). 39.84% Russell 1000(R) Value Index (large cap value stocks)... 28.29% Russell 1000(R) Growth Index (large cap growth stocks). 28.30% ---------- Source: Russell data copyright (C) Russell Investment Group 1995-2013, all rights reserved. Dimensional Fund Advisors LP ("Dimensional" or the "Advisor") believes that among the most important factors explaining differences in the behavior of diversified equity portfolios are the market capitalization and value/ growth characteristics of the portfolios' holdings. Value characteristics are a function of stock price relative to one or more fundamental characteristics such as book value, earnings, or dividends. For many Dimensional U.S. equity portfolios, differences in returns over the 12 months ended October 31, 2013, were primarily attributable to differences in value/growth and size characteristics as well as the exclusion of REIT securities from most Dimensional portfolios and the exclusion of securities of highly regulated utilities from most value strategies. For many portfolios, the construction approach used by Dimensional generally resulted in portfolios with greater weight in value, small cap and/or micro cap companies relative to widely used benchmarks. CSTG&E U.S. Social Core Equity 2 Portfolio The CSTG&E U.S. Social Core Equity 2 Portfolio seeks to capture the returns of the total U.S. market universe with increased exposure to smaller company stocks and value stocks relative to the market. The Portfolio excludes from purchase companies and industries that do not pass the social issue screens performed by a third-party provider. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 1,800 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 32.27% for the Portfolio and 28.99% for the Russell 3000(R) Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the U.S. equity market, rather than the behavior of a limited number of stocks. The Portfolio had greater exposure than the Index to small cap stocks and less exposure to large cap stocks, both of which contributed to the Portfolio's outperformance relative to the Index as small cap stocks generally outperformed large cap stocks during the period. The Portfolio's exclusion of real estate investment trusts ("REITs") also contributed to the Portfolio's outperformance relative to the Index as REITs underperformed during the period. 3 International Equity Market Review 12 Months Ended October 31, 2013 The one-year period ended October 31, 2013, was characterized by generally positive monthly returns in the international equity markets with the exception of a sharp decline from May to June and a smaller decline in August. As measured by the MSCI indices below for developed markets outside the U.S., small cap stocks generally outperformed large caps while value stocks outperformed growth stocks. 12 Months Ended October 31, 2013 -------------------------------- U.S. Dollar Return ------------------ MSCI World ex USA Index........... 24.65% MSCI World ex USA Small Cap Index. 27.81% MSCI World ex USA Value Index..... 26.12% MSCI World ex USA Growth Index.... 23.17% During the period, the U.S. dollar (USD) was mixed against developed markets currencies. While the U.S. dollar depreciated against the euro, Swiss franc, and several other European-based developed markets currencies, it appreciated against the sterling, Canadian dollar, Australian dollar and Japanese yen. 12 Months Ended October 31, 2013 -------------------------------- Ten Largest Foreign Developed Markets by Market Cap Local Currency Return U.S. Dollar Return --------------------------------------------------- --------------------- ------------------ United Kingdom.................... 20.70% 20.37% Japan............................. 64.48% 34.00% Canada............................ 10.59% 5.99% France............................ 27.55% 33.82% Australia......................... 26.44% 15.47% Switzerland....................... 27.49% 31.10% Germany........................... 24.72% 30.85% Spain............................. 30.69% 37.11% Sweden............................ 24.39% 27.55% Hong Kong......................... 14.30% 14.25% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2013, all rights reserved. CSTG&E International Social Core Equity Portfolio The CSTG&E International Core Equity Portfolio seeks to capture the returns of a broadly diversified basket of international stocks, with increased exposure to smaller company stocks and those with value characteristics. The Portfolio excludes from purchase companies and industries that do not pass the social issue screens performed by a third-party provider. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 2,300 securities in 22 eligible developed markets. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 27.54% for the Portfolio and 24.65% for the MSCI World ex USA Index (net dividends). As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the international equity markets rather than by the behavior of a limited number of stocks. The Portfolio invests in stocks across all size categories while the Index primarily holds large and mid cap stocks. International small cap stocks generally outperformed international large and mid cap stocks during the period, and the Portfolio's greater exposure to small cap stocks benefited the Portfolio's relative performance. The Portfolio's greater exposure to value stocks, as measured by book-to-market, was also beneficial as these stocks generally outperformed growth stocks. The Portfolio's exclusion of real estate investment trusts ("REITs") contributed to the Portfolio's outperformance relative to the Index as REITs underperformed during the period. 4 DFA INVESTMENT DIMENSIONS GROUP INC. DISCLOSURE OF FUND EXPENSES (Unaudited) The following Expense Tables are shown so that you can understand the impact of fees on your investment. All mutual funds have operating expenses. As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports, among others. Operating expenses, legal and audit services, which are deducted from a fund's gross income, directly reduce the investment return of the fund. A fund's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs, in dollars, of investing in the fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period. The Expense Tables below illustrate your fund's costs in two ways. Actual Fund Return This section helps you to estimate the actual expenses after fee waivers that you paid over the period. The "Ending Account Value" shown is derived from the fund's actual return and "Expenses Paid During Period" reflect the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. To do so, simply divide your account value by $1,000 (for example, a $7,500 account value divided by $1,000 = 7.5), then multiply the result by the number given for your fund under the heading "Expenses Paid During Period." Hypothetical Example for Comparison Purposes This section is intended to help you compare your fund's costs with those of other mutual funds. The hypothetical "Ending Account Value" and "Expenses Paid During Period" are derived from the fund's actual expense ratio and an assumed 5% annual return before expenses. In this case, because the return used is not the fund's actual return, the results do not apply to your investment. The example is useful in making comparisons because the SEC requires all mutual funds to calculate expenses based on a 5% annual return. You can assess your fund's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. Please note that the expenses shown in the tables are meant to highlight and help you compare ongoing costs only and do not reflect any transactional costs, if applicable. The "Annualized Expense Ratio" represents the actual expenses for the six-month period indicated. Six Months Ended October 31, 2013 EXPENSE TABLES Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/13 10/31/13 Ratio* Period* --------- --------- ---------- -------- CSTG&E U.S. Social Core Equity 2 Portfolio ------------------------------------------ Actual Fund Return................................ $1,000.00 $1,143.00 0.34% $1.84 Hypothetical 5% Annual Return..................... $1,000.00 $1,023.49 0.34% $1.73 CSTG&E International Social Core Equity Portfolio ------------------------------------------------- Actual Fund Return................................ $1,000.00 $1,106.40 0.55% $2.92 Hypothetical 5% Annual Return..................... $1,000.00 $1,022.43 0.55% $2.80 ---------- * Expenses are equal to the fund's annualized expense ratio for the six-month period, multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period (184), then divided by the number of days in the year (365) to reflect the six-month period. 5 DFA INVESTMENT DIMENSIONS GROUP INC. DISCLOSURE OF PORTFOLIO HOLDINGS (Unaudited) The SEC requires that all funds file a complete Schedule of Investments with the SEC for their first and third fiscal quarters on Form N-Q. For DFA Investment Dimensions Group Inc., this would be for the fiscal quarters ending January 31 and July 31. The Form N-Q filing must be made within 60 days of the end of the quarter. DFA Investment Dimensions Group Inc. filed its most recent Form N-Q with the SEC on September 27, 2013. It is available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room). SEC regulations permit a fund to include in its reports to shareholders a "Summary Schedule of Portfolio Holdings" in lieu of a full Schedule of Investments. The Summary Schedule of Portfolio Holdings reports the fund's 50 largest holdings in unaffiliated issuers and any investments that exceed one percent of the fund's net assets at the end of the reporting period. The amendments also require that the Summary Schedule of Portfolio Holdings identify each category of investments that is held. A fund is required to file a complete Schedule of Investments with the SEC on Form N-CSR within ten days after mailing the annual and semi-annual reports to shareholders. It will be available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room). PORTFOLIO HOLDINGS The SEC requires that all funds present their categories of portfolio holdings in a table, chart or graph format in their annual and semi-annual shareholder reports, whether or not a Schedule of Investments is utilized. The following table, which presents portfolio holdings as a percent of total investments before short-term investments and collateral for loaned securities, is provided in compliance with such requirement. The categories shown below represent broad industry sectors. Each industry sector consists of one or more specific industry classifications. CSTG&E U.S. Social Core Equity 2 Portfolio Consumer Discretionary....................... 15.6% Consumer Staples............................. 5.6% Energy....................................... 13.7% Financials................................... 23.5% Industrials.................................. 16.6% Information Technology....................... 14.1% Materials.................................... 5.9% Other........................................ -- Telecommunication Services................... 2.5% Utilities.................................... 2.5% ----- 100.0% CSTG&E International Social Core Equity Portfolio Consumer Discretionary....................... 13.6% Consumer Staples............................. 6.2% Energy....................................... 9.8% Financials................................... 28.7% Industrials.................................. 17.4% Information Technology....................... 5.9% Materials.................................... 11.3% Other........................................ -- Telecommunication Services................... 3.8% Utilities.................................... 3.3% ----- 100.0% 6 CSTG&E U.S. SOCIAL CORE EQUITY 2 PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2013 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (69.1%) Consumer Discretionary -- (10.8%) * Amazon.com, Inc.......................... 700 $ 254,821 0.3% Comcast Corp. Class A.................... 11,509 547,598 0.6% Home Depot, Inc. (The)................... 2,936 228,685 0.3% # Time Warner Cable, Inc................... 2,380 285,957 0.3% Time Warner, Inc......................... 8,366 575,079 0.7% # Walt Disney Co. (The).................... 8,100 555,579 0.6% Other Securities......................... 11,459,824 12.8% ----------- ----- Total Consumer Discretionary................. 13,907,543 15.6% ----------- ----- Consumer Staples -- (3.9%) Mondelez International, Inc. Class A..... 10,303 346,593 0.4% PepsiCo, Inc............................. 2,979 250,504 0.3% Procter & Gamble Co. (The)............... 9,400 759,050 0.9% # Wal-Mart Stores, Inc..................... 5,000 383,750 0.4% Other Securities......................... 3,262,168 3.6% ----------- ----- Total Consumer Staples....................... 5,002,065 5.6% ----------- ----- Energy -- (9.5%) Anadarko Petroleum Corp.................. 3,500 333,515 0.4% Apache Corp.............................. 2,351 208,769 0.2% Chevron Corp............................. 17,800 2,135,288 2.4% ConocoPhillips........................... 8,900 652,370 0.7% EOG Resources, Inc....................... 1,771 315,946 0.4% Exxon Mobil Corp......................... 20,079 1,799,480 2.0% National Oilwell Varco, Inc.............. 3,000 243,540 0.3% Occidental Petroleum Corp................ 2,800 269,024 0.3% Phillips 66.............................. 4,450 286,713 0.3% Pioneer Natural Resources Co............. 1,100 225,258 0.3% Schlumberger, Ltd........................ 2,905 272,257 0.3% # Valero Energy Corp....................... 5,000 205,850 0.2% Other Securities......................... 5,273,735 5.9% ----------- ----- Total Energy................................. 12,221,745 13.7% ----------- ----- Financials -- (16.2%) American International Group, Inc........ 8,485 438,250 0.5% Bank of America Corp..................... 36,276 506,413 0.6% * Berkshire Hathaway, Inc. Class B......... 2,400 276,192 0.3% Capital One Financial Corp............... 3,500 240,345 0.3% # Chubb Corp. (The)........................ 2,512 231,305 0.3% Citigroup, Inc........................... 17,634 860,187 1.0% Goldman Sachs Group, Inc. (The).......... 3,440 553,358 0.6% JPMorgan Chase & Co...................... 23,109 1,191,038 1.3% MetLife, Inc............................. 5,828 275,723 0.3% PNC Financial Services Group, Inc. (The). 4,300 316,179 0.4% Prudential Financial, Inc................ 3,600 293,004 0.3% Travelers Cos., Inc. (The)............... 3,008 259,590 0.3% U.S. Bancorp............................. 8,200 306,352 0.4% Wells Fargo & Co......................... 31,743 1,355,109 1.5% Other Securities......................... 13,781,958 15.3% ----------- ----- Total Financials............................. 20,885,003 23.4% ----------- ----- 7 CSTG&E U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Industrials -- (11.5%) # FedEx Corp......................................... 2,068 $ 270,908 0.3% General Electric Co................................ 38,178 997,973 1.1% # Norfolk Southern Corp.............................. 3,180 273,544 0.3% Union Pacific Corp................................. 2,900 439,060 0.5% Other Securities................................... 12,831,901 14.4% ------------ ------ Total Industrials........................................ 14,813,386 16.6% ------------ ------ Information Technology -- (9.7%) Apple, Inc......................................... 1,600 835,760 0.9% Cisco Systems, Inc................................. 14,702 330,795 0.4% Fidelity National Information Services, Inc........ 4,349 212,014 0.2% * Google, Inc. Class A............................... 400 412,232 0.5% International Business Machines Corp............... 2,200 394,262 0.5% Microsoft Corp..................................... 14,200 501,970 0.6% QUALCOMM, Inc...................................... 3,200 222,304 0.3% # Visa, Inc. Class A................................. 1,400 275,338 0.3% Other Securities................................... 9,357,916 10.3% ------------ ------ Total Information Technology............................. 12,542,591 14.0% ------------ ------ Materials -- (4.1%) Other Securities................................... 5,259,214 5.9% ------------ ------ Other -- (0.0%) Other Securities................................... -- 0.0% ------------ ------ Telecommunication Services -- (1.7%) AT&T, Inc.......................................... 31,480 1,139,576 1.3% Verizon Communications, Inc........................ 8,600 434,386 0.5% Other Securities................................... 619,053 0.7% ------------ ------ Total Telecommunication Services......................... 2,193,015 2.5% ------------ ------ Utilities -- (1.7%) Other Securities................................... 2,200,624 2.5% ------------ ------ TOTAL COMMON STOCKS...................................... 89,025,186 99.8% ------------ ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... -- 0.0% ------------ ------ TEMPORARY CASH INVESTMENTS -- (0.2%) State Street Institutional Liquid Reserves, 0.073%. 195,353 195,353 0.2% ------------ ------ Shares/ Face Amount ------- - - (000) SECURITIES LENDING COLLATERAL -- (30.7%) (S)@ DFA Short Term Investment Fund..................... 3,419,809 39,567,188 44.3% ------------ ------ TOTAL INVESTMENTS -- (100.0%) (Cost $103,220,801).................................. $128,787,727 144.3% ============ ====== 8 CSTG&E U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): Investments in Securities (Market Value) -------------------------------------------- Level 1 Level 2 Level 3 Total ----------- ----------- ------- ------------ Common Stocks Consumer Discretionary...... $13,907,543 -- -- $ 13,907,543 Consumer Staples............ 5,002,065 -- -- 5,002,065 Energy...................... 12,221,745 -- -- 12,221,745 Financials.................. 20,884,915 $ 88 -- 20,885,003 Industrials................. 14,811,811 1,575 -- 14,813,386 Information Technology...... 12,542,591 -- -- 12,542,591 Materials................... 5,259,214 -- -- 5,259,214 Other....................... -- -- -- -- Telecommunication Services.. 2,193,015 -- -- 2,193,015 Utilities................... 2,200,624 -- -- 2,200,624 Rights/Warrants............... -- -- -- -- Temporary Cash Investments.... 195,353 -- -- 195,353 Securities Lending Collateral. -- 39,567,188 -- 39,567,188 ----------- ----------- -- ------------ TOTAL......................... $89,218,876 $39,568,851 -- $128,787,727 =========== =========== == ============ See accompanying Notes to Financial Statements. 9 CSTG&E INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2013 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (91.2%) AUSTRALIA -- (6.2%) Australia & New Zealand Banking Group, Ltd.. 15,071 $ 482,277 0.5% Commonwealth Bank of Australia.............. 3,519 253,377 0.2% National Australia Bank, Ltd................ 16,389 547,734 0.5% Wesfarmers, Ltd............................. 7,768 315,217 0.3% Westpac Banking Corp........................ 8,282 268,893 0.3% # Westpac Banking Corp. Sponsored ADR......... 9,000 293,850 0.3% Other Securities............................ 5,267,769 4.6% ----------- ------ TOTAL AUSTRALIA................................. 7,429,117 6.7% ----------- ------ AUSTRIA -- (0.6%) Other Securities............................ 687,136 0.6% ----------- ------ BELGIUM -- (1.0%) Other Securities............................ 1,275,301 1.2% ----------- ------ CANADA -- (8.3%) Bank of Nova Scotia......................... 4,072 247,565 0.2% # Royal Bank of Canada........................ 4,751 319,057 0.3% Toronto-Dominion Bank (The)................. 4,400 403,602 0.4% Other Securities............................ 9,072,179 8.2% ----------- ------ TOTAL CANADA.................................... 10,042,403 9.1% ----------- ------ CHINA -- (0.0%) Other Securities............................ 4,456 0.0% ----------- ------ DENMARK -- (0.9%) Other Securities............................ 1,122,109 1.0% ----------- ------ FINLAND -- (1.8%) #* Nokia Oyj................................... 45,260 344,011 0.3% Other Securities............................ 1,796,945 1.6% ----------- ------ TOTAL FINLAND................................... 2,140,956 1.9% ----------- ------ FRANCE -- (7.5%) BNP Paribas SA.............................. 8,138 600,366 0.5% Cie de St-Gobain............................ 5,953 312,473 0.3% GDF Suez.................................... 10,842 268,706 0.2% Societe Generale SA......................... 4,966 280,527 0.3% Total SA.................................... 6,697 410,881 0.4% Total SA Sponsored ADR...................... 6,258 382,864 0.4% Vivendi SA.................................. 11,384 288,237 0.3% Other Securities............................ 6,491,837 5.8% ----------- ------ TOTAL FRANCE.................................... 9,035,891 8.2% ----------- ------ GERMANY -- (5.6%) Allianz SE.................................. 3,532 593,031 0.6% BASF SE..................................... 3,847 399,374 0.4% Daimler AG.................................. 7,047 576,971 0.5% # Deutsche Bank AG............................ 7,500 362,400 0.3% Deutsche Telekom AG......................... 17,467 274,489 0.3% Muenchener Rueckversicherungs AG............ 1,388 289,582 0.3% Other Securities............................ 4,246,576 3.7% ----------- ------ TOTAL GERMANY................................... 6,742,423 6.1% ----------- ------ 10 CSTG&E INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- GREECE -- (0.2%) Other Securities...................... $ 309,611 0.3% ----------- ------ HONG KONG -- (2.5%) Other Securities...................... 2,969,345 2.7% ----------- ------ IRELAND -- (0.5%) Other Securities...................... 615,428 0.6% ----------- ------ ISRAEL -- (0.4%) Other Securities...................... 490,392 0.4% ----------- ------ ITALY -- (2.0%) UniCredit SpA......................... 37,986 285,145 0.3% Other Securities...................... 2,137,924 1.9% ----------- ------ TOTAL ITALY............................... 2,423,069 2.2% ----------- ------ JAPAN -- (19.5%) Honda Motor Co., Ltd.................. 6,900 275,537 0.3% Mitsubishi UFJ Financial Group, Inc... 109,270 695,860 0.6% Mizuho Financial Group, Inc........... 169,200 355,161 0.3% Sumitomo Mitsui Financial Group, Inc.. 8,564 413,948 0.4% # Toyota Motor Corp. Sponsored ADR...... 3,508 454,005 0.4% Other Securities...................... 21,266,937 19.2% ----------- ------ TOTAL JAPAN............................... 23,461,448 21.2% ----------- ------ NETHERLANDS -- (2.4%) Other Securities...................... 2,885,835 2.6% ----------- ------ NEW ZEALAND -- (0.3%) Other Securities...................... 318,114 0.3% ----------- ------ NORWAY -- (1.1%) Other Securities...................... 1,281,666 1.2% ----------- ------ PORTUGAL -- (0.3%) Other Securities...................... 346,784 0.3% ----------- ------ SINGAPORE -- (1.4%) Other Securities...................... 1,734,484 1.6% ----------- ------ SPAIN -- (2.3%) Banco Santander SA Sponsored ADR...... 37,082 330,401 0.3% Other Securities...................... 2,515,080 2.3% ----------- ------ TOTAL SPAIN............................... 2,845,481 2.6% ----------- ------ SWEDEN -- (2.6%) Nordea Bank AB........................ 19,916 254,756 0.2% Other Securities...................... 2,862,039 2.6% ----------- ------ TOTAL SWEDEN.............................. 3,116,795 2.8% ----------- ------ SWITZERLAND -- (5.9%) ABB, Ltd.............................. 14,101 359,259 0.3% Credit Suisse Group AG................ 10,947 340,539 0.3% Nestle SA............................. 16,181 1,168,008 1.1% Swiss Re AG........................... 4,151 364,386 0.3% UBS AG................................ 16,424 317,658 0.3% Zurich Insurance Group AG............. 1,748 483,013 0.4% 11 CSTG&E INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- SWITZERLAND -- (Continued) Other Securities................................................. $ 4,062,092 3.7% ------------ ------ TOTAL SWITZERLAND...................................................... 7,094,955 6.4% ------------ ------ UNITED KINGDOM -- (17.9%) Barclays P.L.C. Sponsored ADR.................................... 29,855 501,863 0.5% BG Group P.L.C................................................... 15,156 309,177 0.3% BP P.L.C. Sponsored ADR.......................................... 24,497 1,139,111 1.0% HSBC Holdings P.L.C. Sponsored ADR............................... 26,824 1,476,393 1.3% Legal & General Group P.L.C...................................... 71,615 248,204 0.2% #* Lloyds Banking Group P.L.C. ADR.................................. 66,758 335,793 0.3% Prudential P.L.C. ADR............................................ 6,900 282,624 0.3% # Rio Tinto P.L.C. Sponsored ADR................................... 7,139 361,947 0.3% Royal Dutch Shell P.L.C. ADR(780259107).......................... 15,447 1,073,875 1.0% Royal Dutch Shell P.L.C. ADR(780259206).......................... 10,328 688,465 0.6% Standard Chartered P.L.C......................................... 12,061 289,584 0.3% Tesco P.L.C...................................................... 81,338 474,456 0.4% Vodafone Group P.L.C. Sponsored ADR.............................. 28,773 1,059,422 1.0% Other Securities................................................. 13,344,428 12.1% ------------ ------ TOTAL UNITED KINGDOM................................................... 21,585,342 19.6% ------------ ------ TOTAL COMMON STOCKS.................................................... 109,958,541 99.6% ------------ ------ PREFERRED STOCKS -- (0.0%) UNITED KINGDOM -- (0.0%) Other Securities................................................. 590 0.0% ------------ ------ TOTAL PREFERRED STOCKS................................................. 590 0.0% ------------ ------ RIGHTS/WARRANTS -- (0.0%) HONG KONG -- (0.0%) Other Securities................................................. -- 0.0% ------------ ------ ITALY -- (0.0%) Other Securities................................................. 212 0.0% ------------ ------ SPAIN -- (0.0%) Other Securities................................................. 3,756 0.0% ------------ ------ TOTAL RIGHTS/WARRANTS.................................................. 3,968 0.0% ------------ ------ Shares/ Face Amount Value+ ------- ------ - (000) SECURITIES LENDING COLLATERAL -- (8.8%) (S)@ DFA Short Term Investment Fund................................... 864,304 10,000,000 9.1% @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $658,481 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $595,477) to be repurchased at $583,803............... $584 583,801 0.5% ------------ ------ TOTAL SECURITIES LENDING COLLATERAL.................................... 10,583,801 9.6% ------------ ------ TOTAL INVESTMENTS -- (100.0%) (Cost $122,035,555)................................................ $120,546,900 109.2% ============ ====== 12 CSTG&E INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): Investments in Securities (Market Value) -------------------------------------------- Level 1 Level 2 Level 3 Total ----------- ----------- ------- ------------ Common Stocks Australia................... $ 480,616 $ 6,948,501 -- $ 7,429,117 Austria..................... -- 687,136 -- 687,136 Belgium..................... 70,334 1,204,967 -- 1,275,301 Canada...................... 10,038,672 3,731 -- 10,042,403 China....................... 1,343 3,113 -- 4,456 Denmark..................... -- 1,122,109 -- 1,122,109 Finland..................... 266,281 1,874,675 -- 2,140,956 France...................... 951,584 8,084,307 -- 9,035,891 Germany..................... 669,665 6,072,758 -- 6,742,423 Greece...................... 2,989 306,622 -- 309,611 Hong Kong................... 14,226 2,955,119 -- 2,969,345 Ireland..................... 109,202 506,226 -- 615,428 Israel...................... 33,812 456,580 -- 490,392 Italy....................... 368,948 2,054,121 -- 2,423,069 Japan....................... 1,098,642 22,362,806 -- 23,461,448 Netherlands................. 434,564 2,451,271 -- 2,885,835 New Zealand................. -- 318,114 -- 318,114 Norway...................... 104,646 1,177,020 -- 1,281,666 Portugal.................... 13,241 333,543 -- 346,784 Singapore................... -- 1,734,484 -- 1,734,484 Spain....................... 685,655 2,159,826 -- 2,845,481 Sweden...................... 227,883 2,888,912 -- 3,116,795 Switzerland................. 579,096 6,515,859 -- 7,094,955 United Kingdom.............. 8,403,954 13,181,388 -- 21,585,342 Preferred Stocks United Kingdom.............. -- 590 -- 590 Rights/Warrants Hong Kong................... -- -- -- -- Italy....................... -- 212 -- 212 Spain....................... -- 3,756 -- 3,756 Securities Lending Collateral. -- 10,583,801 -- 10,583,801 ----------- ----------- -- ------------ TOTAL......................... $24,555,353 $95,991,547 -- $120,546,900 =========== =========== == ============ See accompanying Notes to Financial Statements. 13 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (Amounts in thousands, except share and per share amounts) CSTG&E CSTG&E U.S. International Social Core Social Core Equity 2 Equity Portfolio Portfolio * ------------ ------------- ASSETS: Investments at Value (including $38,511 and $10,252 of securities on loan, respectively). $ 89,026 $ 109,963 Temporary Cash Investments at Value & Cost............................................... 195 -- Collateral Received from Securities on Loan at Value & Cost.............................. -- 584 Collateral from Securities on Loan Invested in Affiliate at Value & Cost................. 39,567 10,000 Foreign Currencies at Value.............................................................. -- 206 Cash..................................................................................... -- 75 Receivables: Investment Securities Sold............................................................. 3 2 Dividends, Interest and Tax Reclaims................................................... 64 243 Securities Lending Income.............................................................. 6 8 Fund Shares Sold....................................................................... 8 3 Prepaid Expenses and Other Assets........................................................ -- 1 ------------ ------------ Total Assets........................................................................ 128,869 121,085 ------------ ------------ LIABILITIES: Payables: Upon Return of Securities Loaned....................................................... 39,567 10,584 Investment Securities Purchased........................................................ -- 4 Due to Advisor......................................................................... 20 38 Accrued Expenses and Other Liabilities................................................... 13 21 ------------ ------------ Total Liabilities................................................................... 39,600 10,647 ------------ ------------ NET ASSETS............................................................................... $ 89,269 $ 110,438 ============ ============ SHARES OUTSTANDING, $0.01 PAR VALUE (1).................................................. 6,826,306 12,060,170 ============ ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE................................. $ 13.08 $ 9.16 ============ ============ Investments at Cost...................................................................... $ 63,459 $ 111,452 ============ ============ Foreign Currencies at Cost............................................................... $ -- $ 206 ============ ============ NET ASSETS CONSIST OF: Paid-In Capital.......................................................................... $ 68,737 $ 114,558 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)... 157 301 Accumulated Net Realized Gain (Loss)..................................................... (5,192) (2,933) Net Unrealized Foreign Exchange Gain (Loss).............................................. -- 1 Net Unrealized Appreciation (Depreciation)............................................... 25,567 (1,489) ------------ ------------ NET ASSETS............................................................................... $ 89,269 $ 110,438 ============ ============ (1) NUMBER OF SHARES AUTHORIZED.......................................................... 300,000,000 300,000,000 ============ ============ ---------- * See Note I in the Notes to Financial Statements for additional securities lending collateral. See accompanying Notes to Financial Statements. 14 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2013 (Amounts in thousands) CSTG&E CSTG&E U.S. International Social Core Social Core Equity 2 Equity Portfolio Portfolio ----------- ------------- Investment Income Dividends (Net of Foreign Taxes Withheld of $1 and $182, respectively). $ 1,685 $ 2,363 Interest............................................................... 1 -- Income from Securities Lending......................................... 61 117 ------- ------- Total Investment Income............................................. 1,747 2,480 ------- ------- Expenses Investment Advisory Services Fees...................................... 230 337 Accounting & Transfer Agent Fees....................................... 15 23 Custodian Fees......................................................... 11 33 Filing Fees............................................................ 1 4 Shareholders' Reports.................................................. 5 4 Directors'/Trustees' Fees & Expenses................................... 1 1 Professional Fees...................................................... 2 2 Other.................................................................. 29 42 ------- ------- Total Expenses...................................................... 294 446 ------- ------- Fees Paid Indirectly................................................... -- -- ------- ------- Net Expenses........................................................... 294 446 ------- ------- Net Investment Income (Loss)........................................... 1,453 2,034 ------- ------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold........................................... 675 (86) Foreign Currency Transactions........................................ -- (24) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency........................... 21,536 19,724 Translation of Foreign Currency Denominated Amounts.................. -- 4 ------- ------- Net Realized and Unrealized Gain (Loss)................................ 22,211 19,618 ------- ------- Net Increase (Decrease) in Net Assets Resulting from Operations.......... $23,664 $21,652 ======= ======= See accompanying Notes to Financial Statements. 15 \ DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (Amounts in thousands) CSTG&E U.S. Social Core CSTG&E International Equity 2 Portfolio Social Core Equity Portfolio ---------------------- --------------------------- Year Year Year Year Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2013 2012 -------- -------- -------- -------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss).................................... $ 1,453 $ 1,272 $ 2,034 $ 1,894 Capital Gain Distributions Received from Affiliated Investment Company........................................................ -- 1 -- -- Net Realized Gain (Loss) on: Investment Securities Sold.................................... 675 (1,508) (86) (1,888) Foreign Currency Transactions................................. -- -- (24) (5) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.................... 21,536 10,429 19,724 2,672 Translation of Foreign Currency Denominated Amounts........... -- -- 4 (5) -------- -------- -------- ------- Net Increase (Decrease) in Net Assets Resulting from Operations.................................................. 23,664 10,194 21,652 2,668 -------- -------- -------- ------- Distributions From: Net Investment Income........................................... (1,515) (1,213) (2,071) (1,881) -------- -------- -------- ------- Total Distributions.......................................... (1,515) (1,213) (2,071) (1,881) -------- -------- -------- ------- Capital Share Transactions (1): Shares Issued................................................... 1,318 1,123 29,491 1,126 Shares Issued in Lieu of Cash Distributions..................... 1,515 1,213 2,071 1,881 Shares Redeemed................................................. (11,910) (10,366) (5,607) (6,602) -------- -------- -------- ------- Net Increase (Decrease) from Capital Share Transactions................................................ (9,077) (8,030) 25,955 (3,595) -------- -------- -------- ------- Total Increase (Decrease) in Net Assets...................... 13,072 951 45,536 (2,808) Net Assets Beginning of Year............................................... 76,197 75,246 64,902 67,710 -------- -------- -------- ------- End of Year..................................................... $ 89,269 $ 76,197 $110,438 $64,902 ======== ======== ======== ======= (1) Shares Issued and Redeemed: Shares Issued................................................... 120 118 3,692 158 Shares Issued in Lieu of Cash Distributions..................... 136 130 258 277 Shares Redeemed................................................. (995) (1,063) (677) (962) -------- -------- -------- ------- Net Increase (Decrease) from Shares Issued and Redeemed.................................................... (739) (815) 3,273 (527) ======== ======== ======== ======= Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)........................................ $ 157 $ 215 $ 301 $ 350 See accompanying Notes to Financial Statements. 16 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (for a share outstanding throughout each period) CSTG&E U.S. Social Core Equity 2 Portfolio ------------------------------------------- Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2011 2010 2009 ----------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year....................................... $ 10.07 $ 8.98 $ 8.49 $ 7.05 $ 6.53 ------- ------- ------- ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)....................................... 0.20 0.16 0.13 0.11 0.12 Net Gains (Losses) on Securities (Realized and Unrealized)............. 3.01 1.08 0.49 1.44 0.53 ------- ------- ------- ------- ------- Total from Investment Operations...................................... 3.21 1.24 0.62 1.55 0.65 ----------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income.................................................. (0.20) (0.15) (0.13) (0.11) (0.13) ------- ------- ------- ------- ------- Total Distributions................................................... (0.20) (0.15) (0.13) (0.11) (0.13) ----------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year............................................. $ 13.08 $ 10.07 $ 8.98 $ 8.49 $ 7.05 ========================================================================= ======== ======== ======== ======== ======== Total Return............................................................. 32.27% 13.94% 7.24% 22.14% 10.26% ----------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)...................................... $89,269 $76,197 $75,246 $82,083 $72,368 Ratio of Expenses to Average Net Assets.................................. 0.35% 0.36% 0.38% 0.37% 0.40% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly). 0.35% 0.36% 0.38% 0.37% 0.40% Ratio of Net Investment Income to Average Net Assets..................... 1.71% 1.65% 1.36% 1.36% 1.89% Portfolio Turnover Rate.................................................. 4% 9% 9% 7% 12% ----------------------------------------------------------------------------------------------------------------------- CSTG&E International Social Core Equity Portfolio --------------------------------------------- Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2011 2010 2009 --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year....................................... $ 7.39 $ 7.27 $ 7.92 $ 7.21 $ 5.57 -------- ------- ------- ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)....................................... 0.21 0.21 0.22 0.16 0.16 Net Gains (Losses) on Securities (Realized and Unrealized)............. 1.79 0.12 (0.64) 0.70 1.65 -------- ------- ------- ------- ------- Total from Investment Operations...................................... 2.00 0.33 (0.42) 0.86 1.81 --------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income.................................................. (0.23) (0.21) (0.23) (0.15) (0.17) -------- ------- ------- ------- ------- Total Distributions................................................... (0.23) (0.21) (0.23) (0.15) (0.17) --------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year............................................. $ 9.16 $ 7.39 $ 7.27 $ 7.92 $ 7.21 ========================================================================= ======== ======== ======== ======== ======== Total Return............................................................. 27.54% 4.87% (5.62)% 12.32% 33.26% --------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)...................................... $110,438 $64,902 $67,710 $84,836 $76,201 Ratio of Expenses to Average Net Assets.................................. 0.56% 0.60% 0.58% 0.56% 0.60% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly). 0.56% 0.60% 0.58% 0.56% 0.60% Ratio of Net Investment Income to Average Net Assets..................... 2.54% 3.00% 2.76% 2.12% 2.69% Portfolio Turnover Rate.................................................. 8% 7% 6% 5% 10% --------------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 17 DFA INVESTMENT DIMENSIONS GROUP INC. NOTES TO FINANCIAL STATEMENTS A. Organization: DFA Investment Dimensions Group Inc. (the "Fund") is an open-end management investment company whose shares are offered, without a sales charge, generally to institutional investors and clients of registered investment advisors. The Fund consists of seventy-six operational portfolios, two of which, CSTG&E U.S. Social Core Equity 2 Portfolio and CSTG&E International Social Core Equity Portfolio (the "Portfolios"), are included in this report. The remaining operational portfolios are presented in separate reports. B. Significant Accounting Policies: The following significant accounting policies are in conformity with accounting principles generally accepted in the United States of America. Such policies are consistently followed by the Fund in preparation of its financial statements. The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the fair value of investments, the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates and those differences could be material. 1. Security Valuation: The Portfolios utilize a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels described below: . Level 1 - inputs are quoted prices in active markets for identical securities (including equity securities, open-end investment companies, futures contracts) . Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) . Level 3 - significant unobservable inputs (including the Portfolios' own assumptions in determining the fair value of investments) Securities held by the Portfolios, including over-the-counter securities, are valued at the last quoted sale price at the close of the exchanges on which they are principally traded (official closing price). International equity securities are subject to a fair value factor, as described later in this note. Securities held by the Portfolios that are listed on Nasdaq are valued at the Nasdaq Official Closing Price ("NOCP"). If there is no last reported sale price or NOCP for the day, the Portfolios value the securities at the mean of the most recent quoted bid and asked prices which approximate fair value. Price information on listed securities is taken from the exchange where the security is primarily traded. Generally, securities issued by open-end investment companies are valued using their respective net asset values or public offering prices, as appropriate, for purchase orders placed at the close of the New York Stock Exchange (NYSE). These securities are generally categorized as Level 1 in the hierarchy. Securities for which no market quotations are readily available (including restricted securities), or for which market quotations have become unreliable, are valued in good faith at fair value in accordance with procedures adopted by the Board. Fair value pricing may also be used if events that have a significant effect on the value of an investment (as determined in the discretion of the Investment Committee of Dimensional Fund Advisors LP) occur before the net asset value is calculated. When fair value pricing is used, the prices of securities used by the Portfolios may differ from the quoted or published prices for the same securities on their primary markets or exchanges. These securities are generally categorized as Level 2 in the hierarchy. CSTG&E International Social Core Equity Portfolio will also apply a fair value price in the circumstances described below. Generally, trading in foreign securities markets is completed each day at various times prior to the close of the NYSE. For example, trading in the Japanese securities markets is completed each day at the close of the Tokyo Stock Exchange (normally, 11:00 p.m. PT), which is fourteen hours prior to the close of the NYSE (normally, 1:00 p.m. PT) and the time that the net asset value of the CSTG&E International Social Core Equity 18 Portfolio is computed. Due to the time differences between the closings of the relevant foreign securities exchanges and the time CSTG&E International Social Core Equity Portfolio prices its shares at the close of the NYSE, the Portfolio will fair value its foreign investments when it is determined that the market quotations for the foreign investments are either unreliable or not readily available. The fair value prices will attempt to reflect the impact of the U.S. financial markets' perceptions and trading activities on CSTG&E International Social Core Equity Portfolio's foreign investments since the last closing prices of the foreign investments were calculated on their primary foreign securities markets or exchanges. For these purposes, the Board of the Fund has determined that movements in relevant indices or other appropriate market indicators, after the close of the Tokyo Stock Exchange or the London Stock Exchange, demonstrate that market quotations may be unreliable. Fair valuation of portfolio securities may occur on a daily basis. The fair value pricing by CSTG&E International Social Core Equity Portfolio utilizes data furnished by an independent pricing service (and that data draws upon, among other information, the market values of foreign investments). When CSTG&E International Social Core Equity Portfolio uses fair value pricing, the values assigned to the Portfolio's foreign investments may not be the quoted or published prices of the investments on their primary markets or exchanges. These securities are generally categorized as Level 2 in the hierarchy. A summary of the inputs used to value the Portfolios' investments by each major security type, industry and/or country is disclosed previously in this note. Valuation hierarchy tables have been included at the end of the Summary Schedule of Portfolio Holdings. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For the year ended October 31, 2013, there were no significant transfers between Level 1 and Level 2 and no Level 3 investments held by the Portfolios. 2. Foreign Currency Translation: Securities and other assets and liabilities of the CSTG&E International Social Core Equity Portfolio whose values are initially expressed in foreign currencies are translated to U.S. dollars using the mean between the most recent bid and asked prices for the U.S. dollar as quoted by generally recognized reliable sources. Dividend and interest income and certain expenses are translated to U.S. dollars at the rate of exchange on their respective accrual dates. Receivables and payables denominated in foreign currencies are marked-to-market daily based on daily exchange rates and exchange gains or losses are realized upon ultimate receipt or disbursement. CSTG&E International Social Core Equity Portfolio does not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of securities whether realized or unrealized. Realized gains or losses on foreign currency transactions represent net foreign exchange gains or losses from the disposition of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between amounts of interest, dividends and any foreign withholding taxes recorded on the books of the Portfolio and the U.S. dollar equivalent amounts actually received or paid. 3. Deferred Compensation Plan: Each eligible Director/Trustee of the Fund may elect participation in The Fee Deferral Plan for Independent Directors and Trustees (the "Plan"). Under the Plan, effective January 1, 2002, such Directors/Trustees may defer payment of all or a portion of their total fees earned as a Director/Trustee. These deferred amounts may be treated as though such amounts had been invested in shares of the following funds: U.S. Large Cap Value Portfolio; U.S. Core Equity 1 Portfolio; U.S. Core Equity 2 Portfolio; U.S. Vector Equity Portfolio; U.S. Micro Cap Portfolio; DFA International Value Portfolio; International Core Equity Portfolio; Emerging Markets Portfolio; Emerging Markets Core Equity Portfolio; and/or DFA Two-Year Global Fixed Income Portfolio. Contributions made under the Plan and the change in unrealized appreciation (depreciation) and income are included in Directors'/Trustees' Fees & Expenses. Each Director/Trustee has the option to receive their distribution of proceeds in one of the following methods: lump sum; annual installments over a period of agreed upon years; or quarterly installments over a period of agreed upon years. Each Director/Trustee shall have the right in a notice of election (the "Notice") to defer the receipt of the Director's/Trustee's deferred compensation until a date specified by such Director/Trustee in the Notice, which date may not be sooner than the earlier of: (i) the first business day of January following the year in which such Director/Trustee ceases to be a member of the Board; and (ii) five years following the effective date of 19 the Director's/Trustee's first deferral election. If a Director/Trustee who elects to defer fees fails to designate in the Notice a time or date as of which payment of the Director's/Trustee's deferred fee account shall commence, payment of such amount shall commence as of the first business day of January following the year in which the Director/Trustee ceases to be a member of the Board (unless the Director/Trustee files an amended Notice selecting a different distribution date). As of October 31, 2013, none of the Directors/Trustees have requested or received a distribution of proceeds of a deferred fee account. 4. Other: Security transactions are accounted for as of the trade date. Costs used in determining realized gains and losses on the sale of investment securities and foreign currency are on the basis of identified cost. Dividend income and distributions to shareholders are recorded on the ex-dividend date. Distributions received on securities that represent a return of capital or capital gains are recorded as a reduction of cost of investments or as a realized gain, respectively. The Portfolios estimate the character of distributions received that may be considered return of capital distributions. Interest income is recorded on an accrual basis. Expenses directly attributable to a Portfolio are directly charged. Common expenses of the Fund or Portfolios are allocated using methods approved by the Board, generally based on average net assets. CSTG&E International Social Core Equity Portfolio may be subject to taxes imposed by countries in which it invests, with respect to its investment in issuers existing or operating in such countries. Such taxes are generally based on income earned or repatriated and capital gains realized on the sale of such investments. CSTG&E International Social Core Equity Portfolio accrues such taxes when the related income or capital gains are earned or throughout the holding period. Some countries require governmental approval for the repatriation of investment income, capital or the proceeds of sales earned by foreign investors. In addition, if there is a deterioration in a country's balance of payments or for other reasons, a country may impose temporary restrictions on foreign capital remittances abroad. C. Investment Advisor: The Advisor, Dimensional Fund Advisors LP, provides investment advisory services to the Portfolios. For the year ended October 31, 2013, the investment advisory services fees were accrued daily and paid monthly to the Advisor based on an effective annual rate of 0.27% and 0.42% of average daily net assets for CSTG&E U.S. Social Core Equity 2 Portfolio and CSTG&E International Social Core Equity Portfolio, respectively. Earned Income Credit: In addition, the Portfolios have entered into arrangements with their custodian whereby net interest earned on uninvested cash balances was used to reduce a portion of each Portfolio's custody expenses. Custody expense in the accompanying financial statements is presented before reduction for credits. During the year ended October 31, 2013, expenses reduced were as follows (amounts in thousands): Fees Paid Indirectly ---------- CSTG&E International Social Core Equity Portfolio. $-- Fees Paid to Officers and Directors/Trustees: Certain Officers and Directors/Trustees of the Advisor are also Officers and Directors/Trustees of the Fund; however, such Officers and Directors/Trustees (with the exception of the Chief Compliance Officer ("CCO")) receive no compensation from the Fund. For the year ended October 31, 2013, the total related amounts paid by the Fund to the CCO were $250 (in thousands). The total related amounts paid by the Fund are included in Other Expenses on the Statement of Operations. 20 D. Deferred Compensation: At October 31, 2013, the total liability for deferred compensation to Directors/Trustees is included in Accrued Expenses and Other Liabilities on the Statement of Assets and Liabilities as follows (amounts in thousands): CSTG&E U.S. Social Core Equity 2 Portfolio........ $3 CSTG&E International Social Core Equity Portfolio. 3 E. Purchases and Sales of Securities: For the year ended October 31, 2013, the Portfolios made the following purchases and sales of investment securities, other than short-term securities and U.S. government securities (amounts in thousands): Purchases Sales --------- ------- CSTG&E U.S. Social Core Equity 2 Portfolio........ $ 3,225 $11,535 CSTG&E International Social Core Equity Portfolio. 32,558 6,519 There were no purchases or sales of long-term U.S. government securities. F. Federal Income Taxes: Each Portfolio has qualified and intends to continue to qualify as a regulated investment company under Sub-chapter M of the Internal Revenue Code for federal income tax purposes and to distribute substantially all of its taxable income and net capital gains to shareholders. Accordingly, no provision has been made for federal income taxes. Distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from those amounts determined under accounting principles generally accepted in the United States of America. These book/tax differences are either temporary or permanent in nature. To the extent these differences are permanent, they are charged or credited to paid-in capital, undistributed net investment income or accumulated net realized gains, as appropriate, in the period that the differences arise. Accordingly, the following permanent differences as of October 31, 2013, primarily attributable to net foreign currency gains/losses, foreign capital gains tax and realized gains on securities considered to be "passive foreign investment companies", were reclassified to the following accounts. These reclassifications had no effect on net assets or net asset value per share (amounts in thousands): Increase Increase (Decrease) (Decrease) Increase Undistributed Accumulated (Decrease) Net Investment Net Realized Paid-In Capital Income Gains (Losses) --------------- -------------- -------------- CSTG&E U.S. Social Core Equity 2 Portfolio. $ 4 $(4) CSTG&E International Social Core Equity Portfolio................................ (12) 12 The tax character of dividends and distributions declared and paid during the years ended October 31, 2012 and October 31, 2013 were as follows (amounts in thousands): Net Investment Income and Short-Term Long-Term Capital Gains Capital Gains Total -------------- ------------- ------ CSTG&E U.S. Social Core Equity 2 Portfolio 2012.............................................. $1,213 $1,213 2013.............................................. 1,515 1,515 CSTG&E International Social Core Equity Portfolio 2012.............................................. 1,881 1,881 2013.............................................. 2,071 2,071 21 At October 31, 2013, the components of distributable earnings (accumulated losses) were as follows (amounts in thousands): Undistributed Total Net Net Investment Distributable Income and Unrealized Earnings Short-Term Capital Loss Appreciation (Accumulated Capital Gains Carryfoward (Depreciation) Losses) -------------- ------------ -------------- ------------- CSTG&E U.S. Social Core Equity 2 Portfolio........ $159 $(5,189) $25,566 $20,536 CSTG&E International Social Core Equity Portfolio. 426 (2,922) (1,621) (4,117) For federal income tax purposes, the Fund measures its capital loss carryforwards annually at October 31, its fiscal year end. Capital loss carryforwards may be carried forward and applied against future capital gains. Under the Regulated Investment Company Modernization Act of 2010, capital losses incurred by these Portfolios after October 31, 2011 will not be subject to expiration and will retain their character as either short-term or long-term capital losses. In addition, such losses must be utilized prior to the losses incurred in the years preceding enactment. As of October 31, 2013, the Portfolios had the following capital loss carryforwards available to offset future realized capital gains through the indicated expiration dates (amounts in thousands): Expires on October 31, ---------------------- 2016 2017 2018 Unlimited Total ---- ------ ---- --------- ------ CSTG&E U.S. Social Core Equity 2 Portfolio........ $664 $3,134 $556 $ 835 $5,189 CSTG&E International Social Core Equity Portfolio. -- 904 -- 2,018 2,922 During the year ended October 31, 2013, the Portfolios utilized the following capital loss carryforwards to offset realized capital gains for federal income tax purposes (amount in thousands): CSTG&E U.S. Social Core Equity 2 Portfolio. $673 At October 31, 2013, the total cost and aggregate gross unrealized appreciation and (depreciation) of securities for federal income tax purposes were different from amounts reported for financial reporting purposes (amounts in thousands): Net Unrealized Federal Unrealized Unrealized Appreciation Tax Cost Appreciation Depreciation (Depreciation) -------- ------------ ------------ -------------- CSTG&E U.S. Social Core Equity 2 Portfolio........ $103,222 $30,504 $ (4,938) $25,566 CSTG&E International Social Core Equity Portfolio. 122,168 17,881 (19,502) (1,621) The difference between book basis and tax-basis unrealized appreciation (depreciation) is primarily attributable to the tax deferral of losses on wash sales and investments in passive foreign investment companies. Accounting for Uncertainty in Income Taxes sets forth a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken on a tax return. Management has analyzed each Portfolio's tax positions and has concluded that no additional provision for income tax is required in any Portfolios' financial statements. No Portfolio is aware of any tax positions for which it is more likely than not that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. Each of the Portfolios' federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service. G. Financial Instruments: In accordance with the Portfolios' investment objectives and policies, the Portfolios may invest in certain financial instruments that have off-balance sheet risk in excess of the amounts recognized in the financial 22 statements and concentrations of credit and market risk. These instruments and their significant corresponding risks are described below: 1. Repurchase Agreements: The Portfolios may purchase certain U.S. Government securities subject to the counterparty's agreement to repurchase them at an agreed upon date and price. The counterparty will be required on a daily basis to maintain the value of the collateral subject to the agreement at not less than the repurchase price (including accrued interest). The agreements are conditioned upon the collateral being deposited under the Federal Reserve book- entry system with the Portfolios' custodian or a third party sub-custodian. In the event of default or bankruptcy by the other party to the agreement, retention of the collateral may be subject to legal proceedings. 2. Foreign Market Risks: Investments in foreign markets may involve certain considerations and risks not typically associated with investments in the United States of America, including the possibility of future political and economic developments and the level of foreign government supervision and regulation of foreign securities markets. These markets are generally smaller, less liquid and more volatile than the major securities markets in the United States of America. Consequently, acquisition and disposition of securities held by CSTG&E International Social Core Equity Portfolio may be inhibited. H. Line of Credit: The Fund, together with other Dimensional-advised portfolios, entered into a $250 million unsecured discretionary line of credit effective June 22, 2011 with The Bank of New York Mellon, which was terminated by The Bank of New York Mellon effective March 29, 2013. Prior to termination, each portfolio was permitted to borrow, subject to its investment limitations, up to a maximum of $250 million, as long as total borrowings under the line of credit did not exceed $250 million in the aggregate. Borrowings under the line of credit were charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio was individually, and not jointly, liable for its particular advances under the line of credit. There was no commitment fee on the unused portion of the line of credit. The Fund, together with other Dimensional-advised portfolios, has entered into a $500 million unsecured discretionary line of credit effective March 4, 2013 with its domestic custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. There is no commitment fee on the unused portion of the line of credit. The agreement for the discretionary line of credit may be terminated by either party at any time. The line of credit is scheduled to expire on March 3, 2014. The Fund, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit effective January 11, 2013 with its international custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. There is no commitment fee on the unused portion of the line of credit. The agreement for the line of credit expires on January 10, 2014. For the year ended October 31, 2013, borrowings by the Portfolios under the lines of credit were as follows (amounts in thousands, except percentages and days): Weighted Weighted Number of Interest Maximum Amount Average Average Days Expense Borrowed During Interest Rate Loan Balance Outstanding* Incurred the Period ------------- ------------ ------------ -------- --------------- CSTG&E U.S. Social Core Equity 2 Portfolio. 0.88% $754 32 $ 1 $2,427 CSTG&E International Social Core Equity Portfolio................................ 0.88% 263 69 -- 1,519 * Number of Days Outstanding represents the total of single or consecutive days during the year ended October 31, 2013, that each Portfolio's available line of credit was utilized. 23 There were no outstanding borrowings by the Portfolios under the lines of credit as of October 31, 2013. I. Securities Lending: As of October 31, 2013, the Portfolios had securities on loan to brokers/dealers, for which each Portfolio received cash collateral. In addition, the following Portfolio received non-cash collateral consisting of short term and/or long term U.S. Treasury securities (amounts in thousands): Market Value ------------ CSTG&E International Social Core Equity Portfolio. $526 Each Portfolio invests the cash collateral, as described below, and records a liability for the return of the collateral, during the period the securities are on loan. Loans of securities are expected at all times to be secured by collateral equal to at least (i) 100% of the current market value of the loaned securities with respect to securities of the U.S. government or its agencies, (ii) 102% of the current market value of the loaned securities with respect to U.S. securities, and (iii) 105% of the current market value of the loaned securities with respect to foreign securities. However, daily market fluctuations could cause the Portfolios' collateral to be lower or higher than the expected thresholds. If this were to occur, the collateral would be adjusted the next business day to ensure adequate collateralization. In the event of default or bankruptcy by the other party to the agreement, realization and/or retention of the collateral may be subject to legal proceedings. If the borrower fails to return loaned securities, and cash collateral being maintained by the borrower is insufficient to cover the value of loaned securities and provided such collateral insufficiency is not the result of investment losses, the lending agent has agreed to pay the amount of the shortfall to the Portfolio or, at the option of the lending agent, to replace the securities. Subject to their stated investment policies, the Portfolios will generally invest the cash collateral received for the loaned securities in The DFA Short Term Investment Fund (the "Money Market Series"), an affiliated registered money market fund advised by the Advisor for which the Advisor receives a management fee of 0.05% of the average daily net assets of the Money Market Series. The Portfolios also may invest the cash collateral received for the loaned securities in securities of the U.S. government or its agencies, repurchase agreements collateralized by securities of the U.S. government or its agencies, and affiliated and unaffiliated registered and unregistered money market funds. For purposes of this paragraph, agencies include both agency debentures and agency mortgage-backed securities. In addition, the Portfolios will be able to terminate the loan at any time and will receive reasonable interest on the loan, as well as amounts equal to any dividends, interest or other distributions on the loaned securities. However, dividend income received from loaned securities may not be eligible to be taxed at qualified dividend income rates. J. Indemnitees; Contractual Obligations: Under the Fund's organizational documents, its officers and directors are indemnified against certain liabilities arising out of the performance of their duties to the Fund. In the normal course of business, the Fund enters into contracts that contain a variety of representations and warranties which provide general indemnification. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund and/or its affiliates that have not yet occurred. However, based on experience, the Fund expects the risk of loss to be remote. K. Recently Issued Accounting Standards: In January 2013, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") No. 2013-01 "Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities" ("ASU 2013-01") which amended Accounting Standards Codification Subtopic 210-20, Balance Sheet Offsetting. ASU 2013-01 clarified the scope of ASU No. 2011-11 "Disclosures about Offsetting Assets and Liabilities" ("ASU 2011-11"). ASU 2011-11 requires an entity to disclose information about offsetting and related arrangements to enable users of that entity's financial statements to understand the effect of those arrangements on its financial position. ASU 2013-01 clarifies 24 the scope of ASU 2011-11 as applying to derivatives accounted for in accordance with Topic 815, Derivatives and Hedging, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are offset either in accordance with other requirements of GAAP or subject to an enforceable master netting arrangement or similar agreement. ASU No. 2011-11 is effective for annual periods beginning on or after January 1, 2013, and interim periods within those annual periods. Management is evaluating any impact ASU No. 2011-11 may have on the financial statements. L. Other: At October 31, 2013, two shareholders held 96% of the outstanding shares of CSTG&E U.S. Social Core Equity 2 Portfolio and two shareholders held 98% of the outstanding shares of CSTG&E International Social Core Equity Portfolio. One or more of the shareholders may be omnibus accounts, which typically hold shares for the benefit of several other underlying investors. M. Subsequent Event Evaluations: Management has evaluated the impact of all subsequent events on the Portfolios and has determined that there are no subsequent events requiring recognition or disclosure in the financial statements. 25 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Shareholders of the Portfolios, as defined, and Board of Directors of DFA Investment Dimensions Group Inc.: In our opinion, the accompanying statements of assets and liabilities, including the summary schedules of portfolio holdings, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of CSTG&E U.S. Social Core Equity 2 Portfolio and CSTG&E International Social Core Equity Portfolio (constituting portfolios within DFA Investment Dimensions Group Inc., hereafter referred to as the "Portfolios") at October 31, 2013, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period then ended and the financial highlights for each of the five years in the period then ended, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as "financial statements") are the responsibility of the Portfolios' 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, 2013 by correspondence with the custodians, brokers, and the transfer agent of the investee fund, provide a reasonable basis for our opinion. PricewaterhouseCoopers LLP Philadelphia, Pennsylvania December 20, 2013 26 FUND MANAGEMENT (Unaudited) Trustees/Directors Each Board of Trustees/Directors (each, the "Board" and collectively, the "Boards") of The DFA Investment Trust Company ("DFAITC"), DFA Investment Dimensions Group Inc. ("DFAIDG"), Dimensional Investment Group Inc. ("DIG") and Dimensional Emerging Markets Value Fund ("DEM") (each, the "Fund" and collectively, the "Funds") is responsible for establishing the Funds' policies and for overseeing the management of the Funds. The Trustees/Directors of the Funds, including all of the disinterested Trustees/Directors, have adopted written procedures to monitor potential conflicts of interest that might develop between portfolios of the Funds (the "Feeder Portfolios") that invest in certain series of DFAITC or DEM (the "Master Funds"). Each Board has three standing committees, an Audit Committee, a Nominating Committee, and an Investment Review Committee (the "Review Committee"). The Audit Committee is comprised of George M. Constantinides, Roger G. Ibbotson and Abbie J. Smith. Each member of the Audit Committee is a disinterested Trustee/Director. The Audit Committee oversees the Fund's accounting and financial reporting policies and practices, the Fund's internal controls, the Fund's financial statements and the independent audits thereof and performs other oversight functions as requested by the Board. The Audit Committee recommends the appointment of each Fund's independent registered certified public accounting firm and also acts as a liaison between the Fund's independent registered certified public accounting firm and the full Board. There were two Audit Committee meetings held during the fiscal year ended October 31, 2013. Each Board's Nominating Committee is comprised of George M. Constantinides, John P. Gould, Roger G. Ibbotson, Myron S. Scholes, Edward P. Lazear and Abbie J. Smith. Each member of the Nominating Committee is a disinterested Trustee/Director. The Nominating Committee for each Board makes recommendations for nominations of disinterested and interested members on the Board to the full Board. The Nominating Committee evaluates a candidate's qualification for Board membership and the independence of such candidate from the Advisor and other principal service providers. There was one Nominating Committee meeting held during the fiscal year ended October 31, 2013. Each Board's Review Committee consists of both interested and disinterested Trustees/Directors. The Review Committee is comprised of John P. Gould, Edward P. Lazear, Myron S. Scholes and Eduardo A. Repetto. The Review Committee assists the Board in carrying out its fiduciary duties with respect to the oversight of the Fund and its performance. At the request of the Board or the Advisor, the Review Committee may (i) review the design of possible new series of the Fund, (ii) review performance of existing portfolios of the Fund and discuss and recommend possible enhancements to the portfolios' investment strategies, (iii) review proposals by the Advisor to modify or enhance the investment strategies or policies of each portfolio, and (iv) consider issues relating to investment services for each portfolio of the Fund. The Review Committee was formed on December 17, 2010, and there were two Review Committee meetings held during the fiscal year ended October 31, 2013. Certain biographical information for each disinterested Trustee/Director and each interested Trustee/Director of the Funds is set forth in the tables below, including a description of each Trustee/Director's experience as a Trustee/ Director of the Funds and as a director or trustee of other funds, as well as other recent professional experience. The statements of additional information (together, "SAI") of the Funds include additional information about each Trustee/Director. You may obtain copies of the SAI and prospectus of each Fund advised by Dimensional Fund Advisors LP by calling collect (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746. Prospectuses are also available at www.dimensional.com. 27 Name, Position Portfolios within the Principal Occupation(s) During Past 5 Years with the Fund, Term of Office/1/ and DFA Fund Complex/2/ and Other Directorships of Public Companies Address and Year of Birth Length of Service Overseen Held ----------------------------------------------------------------------------------------------------------------------------- Disinterested Trustees/Directors ----------------------------------------------------------------------------------------------------------------------------- George M. Constantinides Since Inception 106 portfolios in 4 Leo Melamed Professor of Finance, The Director of DFAIDG and DIG. investment companies University of Chicago Booth School of Business. Trustee of DFAITC and DEM. The University of Chicago Booth School of Business 5807 S. Woodlawn Avenue Chicago, IL 60637 1947 ----------------------------------------------------------------------------------------------------------------------------- John P. Gould Since Inception 106 portfolios in 4 Steven G. Rothmeier Distinguished Service Director of DFAIDG and DIG. investment companies Professor of Economics, The University of Trustee of DFAITC and DEM. Chicago Booth School of Business (since 1965). The University of Chicago Member and Chair, Competitive Markets Booth School of Business Advisory Committee, Chicago Mercantile 5807 S. Woodlawn Avenue Exchange (futures trading exchange) (since Chicago, IL 60637 2004). Formerly, Director of UNext, Inc. (1999- 1939 2006). Trustee, Harbor Fund (registered investment company) (30 Portfolios) (since 1994). Formerly, Member of the Board of Milwaukee Mutual Insurance Company (1997-2010). ----------------------------------------------------------------------------------------------------------------------------- Roger G. Ibbotson Since Inception 106 portfolios in 4 Professor in Practice of Finance, Yale School of Director of DFAIDG and DIG. investment companies Management (since 1984). Chairman, CIO and Trustee of DFAITC and DEM. Partner, Zebra Capital Management, LLC (hedge Yale School of Management fund manager) (since 2001). Consultant to P.O. Box 208200 Morningstar, Inc. (since 2006). Formerly, New Haven, CT 06520-8200 Chairman, Ibbotson Associates, Inc., Chicago, IL 1943 (software data publishing and consulting) (1977- 2006). Formerly, Director, BIRR Portfolio Analysis, Inc. (software products) (1990-2010). ----------------------------------------------------------------------------------------------------------------------------- Edward P. Lazear Since Inception 106 portfolios in 4 Morris Arnold Cox Senior Fellow, Hoover Director of DFAIDG and DIG. investment companies Institution (since 2002). Jack Steele Parker Trustee of DFAITC and DEM. Professor of Human Resources Management Stanford University and Economics, Graduate School of Business, Graduate School of Business Stanford University (since 1995). Cornerstone 518 Memorial Way Research (expert testimony and economic and Stanford, CA 94305-5015 financial analysis) (since 2009). Formerly, 1948 Chairman of the President George W. Bush's Council of Economic Advisers (2006-2009). Formerly, Council of Economic Advisors, State of California (2005-2006). Formerly, Commissioner, White House Panel on Tax Reform (2005). ----------------------------------------------------------------------------------------------------------------------------- Myron S. Scholes Since Inception 106 portfolios in 4 Frank E. Buck Professor Emeritus of Finance, Director of DFAIDG and DIG. investment companies Stanford University (since 1981). Formerly, Trustee of DFAITC and DEM. Chairman, Platinum Grove Asset Management, c/o Dimensional Fund L.P. (hedge fund) (formerly, Oak Hill Platinum Advisors, LP Partners) (1999-2009). Formerly, Managing 6300 Bee Cave Road Partner, Oak Hill Capital Management (private Building 1 equity firm) (until 2004). Director, American Austin, TX 78746 Century Fund Complex (registered investment 1941 companies) (40 Portfolios) (since 1980). Formerly, Director, Chicago Mercantile Exchange (2001-2008). ----------------------------------------------------------------------------------------------------------------------------- Abbie J. Smith Since Inception 106 portfolios in 4 Boris and Irene Stern Distinguished Service Director of DFAIDG and DIG. investment companies Professor of Accounting, The University of Trustee of DFAITC and DEM. Chicago Booth School of Business (since 1980). The University of Chicago Co-Director Investment Research, Fundamental Booth School of Business Investment Advisors (hedge fund) (since 2008). 5807 S. Woodlawn Avenue Director, HNI Corporation (formerly known as Chicago, IL 60637 HON Industries Inc.) (office furniture) (since 1953 2000). Director, Ryder System Inc. (transportation, logistics and supply-chain management) (since 2003). Trustee, UBS Funds (4 investment companies within the fund complex) (52 portfolios) (since 2009). ----------------------------------------------------------------------------------------------------------------------------- 28 Name, Position Portfolios within the with the Fund, Term of Office/1/ and DFA Fund Complex/2/ Principal Occupation(s) During Past 5 Years and Address and Year of Birth Length of Service Overseen Other Directorships of Public Companies Held --------------------------------------------------------------------------------------------------------------------------------- Interested Trustees/Directors* --------------------------------------------------------------------------------------------------------------------------------- David G. Booth Since Inception 106 portfolios in 4 Chairman, Director/Trustee, President, and Co-Chief Chairman, Director, investment companies Executive Officer (since January 2010) of Co-Chief Executive Officer Dimensional Holdings Inc., Dimensional Fund and President of DFAIDG Advisors LP, DFA Securities LLC, DEM, DFAIDG, and DIG. DIG and DFAITC. Director of Dimensional Fund Chairman, Trustee, Co- Advisors Ltd., Dimensional Funds PLC, Dimensional Chief Executive Officer Funds II PLC, DFA Australia Limited, Dimensional and President of DFAITC Cayman Commodity Fund I Ltd., Dimensional Japan and DEM. Ltd. and Dimensional Advisors Ltd. Chairman, 6300 Bee Cave Road, Director and Co-Chief Executive Officer of Building One Dimensional Fund Advisors Canada ULC. President, Austin, Texas 78746 Dimensional SmartNest (US) LLC. Limited Partner, 1946 Oak Hill Partners (since 2001) and VSC Investors, LLC (since 2007). Trustee, The University of Chicago. Trustee, University of Kansas Endowment Association. Formerly, Chief Executive Officer (until 2010) and Chief Investment Officer (2003-2007) of Dimensional Fund Advisors LP, DFA Securities LLC, DEM, DFAIDG, DIG , DFAITC, Dimensional Holdings Inc. Formerly, Chief Investment Officer of Dimensional Fund Advisors Ltd. Formerly, President and Chief Investment Officer of DFA Australia Limited. Formerly, Director, SA Funds (registered investment company). --------------------------------------------------------------------------------------------------------------------------------- Eduardo A. Repetto Since 2009 106 portfolios in 4 Co-Chief Executive Officer (since January 2010), Director, Co-Chief investment companies Chief Investment Officer (since March 2007) and Executive Officer and Director/Trustee of Dimensional Holdings Inc., Chief Investment Officer of Dimensional Fund Advisors LP, DFA Securities LLC, DFAIDG and DIG. DEM, DFAIDG, DIG, DFAITC and Dimensional Trustee, Co-Chief Cayman Commodity Fund I Ltd. Director, Co-Chief Executive Officer and Executive Officer, President and Chief Investment Chief Investment Officer of Officer of Dimensional Fund Advisors Canada ULC. DFAITC and DEM. Chief Investment Officer, Vice President and Director 6300 Bee Cave Road, of DFA Australia Limited. Director of Dimensional Building One Fund Advisors Ltd., Dimensional Funds PLC, Austin, TX 78746 Dimensional Funds II PLC, Dimensional Japan Ltd. 1967 and Dimensional Advisors Ltd., Formerly President of Dimensional Holdings Inc, Dimensional Fund Advisors LP, DFA Securities LLC, DEM, DFAIDG, DIG, DFAITC and Dimensional Fund Advisors Canada ULC. --------------------------------------------------------------------------------------------------------------------------------- /1/ Each Trustee/Director holds office for an indefinite term until his or her successor is elected and qualified. /2/ Each Trustee/Director is a director or trustee of each of the four registered investment companies within the DFA Fund Complex, which includes the Funds. * Interested Trustees/Directors are described as such because they are deemed to be "interested persons," as that term is defined under the Investment Company Act of 1940, as amended, due to their positions with Dimensional Fund Advisors LP. 29 Officers The name, year of birth, information regarding positions with the Funds and the principal occupation for each officer of the Funds are set forth below. Each officer listed below holds the same office (except as otherwise noted) in the following entities: Dimensional Fund Advisors LP (prior to November 3, 2006, Dimensional Fund Advisors Inc.) ("Dimensional"), Dimensional Holdings Inc., DFA Securities LLC (prior to April 6, 2009, DFA Securities Inc.), DFAIDG, DIG, DFAITC and DEM (collectively, the "DFA Entities"). The address of each officer is: Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, unless otherwise indicated. Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years --------------------------------------------------------------------------------------------------------------------- Officers --------------------------------------------------------------------------------------------------------------------- April A. Aandal Since 2008 Vice President of all the DFA Entities. Vice President 1963 --------------------------------------------------------------------------------------------------------------------- Robyn G. Alcorta Since 2012 Vice President of all the DFA Entities. Formerly, Vice President Vice President Business Development at Capson Physicians Insurance Company 1974 (2010-2012); Vice President at Charles Schwab (2007-2010). --------------------------------------------------------------------------------------------------------------------- Darryl D. Avery Since 2005 Vice President of all the DFA Entities. Vice President 1966 --------------------------------------------------------------------------------------------------------------------- Arthur H. Barlow Since 1993 Vice President of all the DFA Entities. Director and Managing Vice President Director of DFAL (since September 2013). 1955 --------------------------------------------------------------------------------------------------------------------- Scott A. Bosworth Since 2007 Vice President of all the DFA Entities. Vice President 1968 --------------------------------------------------------------------------------------------------------------------- Valerie A. Brown Since 2001 Vice President and Assistant Secretary of all the DFA Entities, DFA Vice President and Assistant Australia Limited, Dimensional Fund Advisors Ltd., Dimensional Secretary Cayman Commodity Fund I Ltd., Dimensional Fund Advisors Pte. 1967 Ltd., Dimensional Hong Kong Limited. Director, Vice President and Assistant Secretary of Dimensional Fund Advisors Canada ULC. --------------------------------------------------------------------------------------------------------------------- David P. Butler Since 2007 Vice President of all the DFA Entities. Head of Global Financial Vice President Services of Dimensional (since 2008). 1964 --------------------------------------------------------------------------------------------------------------------- Douglas M. Byrkit Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (December 2010-January 2012); Regional Director 1970 at Russell Investments (April 2006-December 2010). --------------------------------------------------------------------------------------------------------------------- James G. Charles Since 2011 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (2008-2010); Vice President, Client Portfolio 1956 Manager at American Century Investments (2001-2008). --------------------------------------------------------------------------------------------------------------------- Joseph H. Chi Since 2009 Vice President of all the DFA Entities. Co-Head of Portfolio Vice President Management of Dimensional (since March 2012). Sr. Portfolio 1966 Manager of Dimensional (since January 2012). Formerly, Portfolio Manager for Dimensional (October 2005-January 2012). --------------------------------------------------------------------------------------------------------------------- Stephen A. Clark Since 2004 Vice President of all the DFA Entities, DFA Australia Limited and Vice President Dimensional Fund Advisors Canada ULC. Head of Institutional, 1972 North America (since March 2012). Formerly, Head of Portfolio Management of Dimensional (January 2006-March 2012). --------------------------------------------------------------------------------------------------------------------- Matt B. Cobb Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since September 2011). Formerly, Vice President at 1971 MullinTBG 92005-2011). --------------------------------------------------------------------------------------------------------------------- Ryan Cooper Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since 2003). 1979 --------------------------------------------------------------------------------------------------------------------- Jeffrey D. Cornell Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (August 2002-January 2012). 1976 --------------------------------------------------------------------------------------------------------------------- 30 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years --------------------------------------------------------------------------------------------------------------------------- Robert P. Cornell Since 2007 Vice President of all the DFA Entities. Vice President 1949 --------------------------------------------------------------------------------------------------------------------------- George H. Crane Since 2010 Vice President of all the DFA Entities. Formerly, Senior Vice Vice President President and Managing Director at State Street Bank & Trust 1955 Company (2007-2008). --------------------------------------------------------------------------------------------------------------------------- Christopher S. Crossan Since 2004 Vice President and Global Chief Compliance Officer of all the DFA Vice President and Global Chief Entities, DFA Australia Limited, Dimensional Fund Advisors Ltd., Compliance Officer and Dimensional SmartNest (US) LLC. Chief Compliance Officer of 1965 Dimensional Fund Advisors Canada ULC. --------------------------------------------------------------------------------------------------------------------------- James L. Davis Since 1999 Vice President of all the DFA Entities. Vice President 1956 --------------------------------------------------------------------------------------------------------------------------- Robert T. Deere Since 1994 Vice President of all the DFA Entities, DFA Australia Limited and Vice President Dimensional Fund Advisors Canada ULC. 1957 --------------------------------------------------------------------------------------------------------------------------- Peter F. Dillard Since 2010 Vice President of all the DFA Entities. Research Associate for Vice President Dimensional (since August 2008). 1972 --------------------------------------------------------------------------------------------------------------------------- Robert W. Dintzner Since 2001 Vice President of all the DFA Entities. Vice President 1970 --------------------------------------------------------------------------------------------------------------------------- Richard A. Eustice Since 1998 Vice President and Assistant Secretary of all the DFA Entities and Vice President and Assistant DFA Australia Limited. Secretary 1965 --------------------------------------------------------------------------------------------------------------------------- Gretchen A. Flicker Since 2004 Vice President of all the DFA Entities. Vice President 1971 --------------------------------------------------------------------------------------------------------------------------- Jed S. Fogdall Since 2008 Vice President of all the DFA Entities. Co-Head of Portfolio Vice President Management of Dimensional (since March 2012). Sr. Portfolio 1974 Manager of Dimensional (since January 2012). --------------------------------------------------------------------------------------------------------------------------- Jeremy P. Freeman Since 2009 Vice President of all the DFA Entities. Senior Technology Manager Vice President for Dimensional (since June 2006). 1970 --------------------------------------------------------------------------------------------------------------------------- Mark R. Gochnour Since 2007 Vice President of all the DFA Entities. Vice President 1967 --------------------------------------------------------------------------------------------------------------------------- Tom M. Goodrum Since 2012 Vice President of all the DFA Entities. Formerly, Managing Director Vice President at BlackRock (2004-January 2012). 1968 --------------------------------------------------------------------------------------------------------------------------- Henry F. Gray Since 2000 Vice President of all the DFA Entities. Vice President 1967 --------------------------------------------------------------------------------------------------------------------------- John T. Gray Since 2007 Vice President of all the DFA Entities. Vice President 1974 --------------------------------------------------------------------------------------------------------------------------- Christian Gunther Since 2011 Vice President of all the DFA Entities. Senior Trader for Vice President Dimensional (since 2012). Formerly, Senior Trader for Dimensional 1975 Fund Advisors Ltd. (2009-2012); Trader for Dimensional Fund Ltd. (2008-2009); Trader for Dimensional (2004-2008). --------------------------------------------------------------------------------------------------------------------------- Joel H. Hefner Since 2007 Vice President of all the DFA Entities. Vice President 1967 --------------------------------------------------------------------------------------------------------------------------- Julie C. Henderson Since 2005 Vice President and Fund Controller of all the DFA Entities, Vice President and Fund Controller Dimensional Cayman Commodity Fund I Ltd. and Dimensional 1974 Japan Ltd. --------------------------------------------------------------------------------------------------------------------------- 31 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years ---------------------------------------------------------------------------------------------------------------------- Kevin B. Hight Since 2005 Vice President of all the DFA Entities. Vice President 1967 ---------------------------------------------------------------------------------------------------------------------- Christine W. Ho Since 2004 Vice President of all the DFA Entities. Vice President 1967 ---------------------------------------------------------------------------------------------------------------------- Michael C. Horvath Since 2011 Vice President of all the DFA Entities. Formerly, Managing Director, Vice President Co-Head Global Consultant Relations at BlackRock (2004-2011). 1960 ---------------------------------------------------------------------------------------------------------------------- William A. Irvine Since 2013 Vice President of all the DFA Entities, Regional Director For Vice President Dimensional (since 2012). Formerly, Vice President of Institutional 1957 Business Development at Eaton Vance (2005-2011). ---------------------------------------------------------------------------------------------------------------------- Jeff J. Jeon Since 2004 Vice President of all the DFA Entities and Dimensional Cayman Vice President Commodity Fund I Ltd. 1973 ---------------------------------------------------------------------------------------------------------------------- Stephen W. Jones Since 2012 Vice President of all the DFA Entities. Formerly, Facilities Manager Vice President for Dimensional (October 2008-January 2012). 1968 ---------------------------------------------------------------------------------------------------------------------- Patrick M. Keating Since 2003 Vice President and Chief Operating Officer of all the DFA Entities, Vice President Dimensional Cayman Commodity Fund I Ltd., Dimensional Japan 1954 Ltd., Dimensional Advisors Ltd., Dimensional Hong Kong Limited and Chief Operating Officer of Dimensional. Director, Vice President and Chief Privacy Officer of Dimensional Fund Advisors Canada ULC. Director of DFA Australia Limited, Dimensional Fund Advisors Ltd., Dimensional Japan Ltd. and Dimensional Advisors Ltd. Director and Vice President of Dimensional Hong Kong Limited and Dimensional Fund Advisors Pte. Ltd. ---------------------------------------------------------------------------------------------------------------------- Andrew K. Keiper Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since October 2004). 1977 ---------------------------------------------------------------------------------------------------------------------- Glenn E. Kemp Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional Fund Advisors LP (April 2006-January 2012). 1948 ---------------------------------------------------------------------------------------------------------------------- David M. Kershner Since 2010 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since June 2004). 1971 ---------------------------------------------------------------------------------------------------------------------- Timothy R. Kohn Since 2011 Vice President of all the DFA Entities. Head of Defined Contribution Vice President Sales for Dimensional (since August 2010). Formerly, Chief DC 1971 Strategist, Barclays Global Investors (2005-2009). ---------------------------------------------------------------------------------------------------------------------- Joseph F. Kolerich Since 2004 Vice President of all the DFA Entities. Sr. Portfolio Manager of Vice President Dimensional (since January 2012). Formerly, Portfolio Manager for 1971 Dimensional (April 2001-January 2012). ---------------------------------------------------------------------------------------------------------------------- Mark D. Krasniewski Since 2013 Vice President of all the DFA Entities. Formerly, Senior Associate Vice President Investment Analytics and Data for Dimensional (January 2012- 1981 December 2012); Systems Developer for Dimensional (June 2007- December 2011). ---------------------------------------------------------------------------------------------------------------------- Stephen W. Kurad Since 2011 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (2007-2010). 1968 ---------------------------------------------------------------------------------------------------------------------- Michael F. Lane Since 2004 Vice President of all the DFA Entities. Chief Executive Officer of Vice President Dimensional SmartNest (US) LLC (since 2012). 1967 ---------------------------------------------------------------------------------------------------------------------- Francis R. Lao Since 2011 Vice President of all the DFA Entities. Formerly, Vice President - Vice President Global Operations at Janus Capital Group (2005-2011). 1969 ---------------------------------------------------------------------------------------------------------------------- David F. LaRusso Since 2013 Vice President of all the DFA Entities. Formerly, Senior Trader for Vice President Dimensional (January 2010-December 2012); Trader for 1978 Dimensional (2000-2009). ---------------------------------------------------------------------------------------------------------------------- 32 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years ----------------------------------------------------------------------------------------------------------------- Juliet H. Lee Since 2005 Vice President of all the DFA Entities. Vice President 1971 ----------------------------------------------------------------------------------------------------------------- Marlena I. Lee Since 2011 Vice President of all the DFA Entities. Formerly, Vice President Research Associate for Dimensional (July 1980 2008-2010). ----------------------------------------------------------------------------------------------------------------- John B. Lessley Since 2013 Vice President of all the DFA Entities. Regional Vice President Director for Dimensional (since January 2008). 1960 ----------------------------------------------------------------------------------------------------------------- Apollo D. Lupescu Since 2009 Vice President of all the DFA Entities. Regional Vice President Director for Dimensional (since February 2004). 1969 ----------------------------------------------------------------------------------------------------------------- Kenneth M. Manell Since 2010 Vice President of all the DFA Entities and Vice President Dimensional Cayman Commodity Fund I Ltd. Counsel 1972 for Dimensional (since September 2006). ----------------------------------------------------------------------------------------------------------------- Rose C. Manziano Since 2013 Vice President of all the DFA Entities. Regional Vice President Director for Dimensional (Since August 2010). 1971 Formerly, Vice President, Sales and Business Development at AdvisorsIG (PPMG) (2009-2010); Vice President at Credit Suisse (2007-2009). ----------------------------------------------------------------------------------------------------------------- Aaron M. Marcus Since 2008 Vice President of all the DFA Entities and Head Vice President & Head of Global of Global Human Resources of Dimensional. Human Resources 1970 ----------------------------------------------------------------------------------------------------------------- David R. Martin Since 2007 Vice President, Chief Financial Officer and Vice President, Chief Financial Officer Treasurer of all the DFA Entities. Director, Vice and Treasurer President, Chief Financial Officer and Treasurer 1956 of Dimensional Fund Advisors Ltd., DFA Australia Limited, Dimensional Advisors Ltd., Dimensional Fund Advisors Pte. Ltd., Dimensional Hong Kong Limited and Dimensional Fund Advisors Canada ULC. Chief Financial Officer, Treasurer, and Vice President of Dimensional SmartNest (US) LLC, and Dimensional Cayman Commodity Fund I Ltd. Director of Dimensional Funds PLC and Dimensional Funds II PLC. Statutory Auditor of Dimensional Japan Ltd. ----------------------------------------------------------------------------------------------------------------- Matthew H. Miller Since 2013 Vice President of all the DFA Entities. Client Vice President Service Manager for Dimensional (Since 2012). 1978 Formerly, Regional Director for Dimensional (2008-2011; Senior Associate at Dimensional (2007-2010). ----------------------------------------------------------------------------------------------------------------- Jonathan G. Nelson Since 2013 Vice President of all the DFA Entities. Manager, Vice President Investment Systems at Dimensional (Since 2011). 1971 Formerly, Project Manager for Dimensional (2007-2010). ----------------------------------------------------------------------------------------------------------------- Catherine L. Newell Vice President since Vice President and Secretary of all the DFA Vice President and Secretary 1997 and Secretary Entities. Director, Vice President and Secretary 1964 since 2000 of DFA Australia Limited and Dimensional Fund Advisors Ltd. (since February 2002, April 1997 and May 2002, respectively). Vice President and Secretary of Dimensional Fund Advisors Canada ULC (since June 2003), Dimensional SmartNest (US) LLC, Dimensional Cayman Commodity Fund I Ltd., Dimensional Japan Ltd. (since February 2012), Dimensional Advisors Ltd. (since March 2012), Dimensional Fund Advisors Pte. Ltd. (since June 2012) and Dimensional Hong Kong Limited (since August 2012). Director, Dimensional Funds PLC and Dimensional Funds II PLC (since 2002 and 2006, respectively). Director of Dimensional Japan Ltd., Dimensional Advisors Ltd., Dimensional Fund Advisors Pte. Ltd. and Dimensional Hong Kong Limited (since August 2012 and July 2012). ----------------------------------------------------------------------------------------------------------------- Pamela B. Noble Since 2011 Vice President of all the DFA Entities. Portfolio Vice President Manager for Dimensional (2008-2010). 1964 ----------------------------------------------------------------------------------------------------------------- Selwyn J. Notelovitz Since 2012 Vice President of all DFA Entities. Deputy Chief Vice President Compliance Officer of Dimensional (since December 1961 2012). Formerly Chief Compliance Officer of Wellington Management Company, LLP (2004-2011). ----------------------------------------------------------------------------------------------------------------- 33 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years ----------------------------------------------------------------------------------------------------------------------- Carolyn L. O Since 2010 Vice President of all the DFA Entities and Dimensional Cayman Vice President Commodity Fund I Ltd. Deputy General Counsel, Funds (since 1974 2011). Counsel for Dimensional (2007-2011). ----------------------------------------------------------------------------------------------------------------------- Gerard K. O'Reilly Since 2007 Vice President of all the DFA Entities. Vice President 1976 ----------------------------------------------------------------------------------------------------------------------- Daniel C. Ong Since 2009 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since July 2005). 1973 ----------------------------------------------------------------------------------------------------------------------- Kyle K. Ozaki Since 2010 Vice President of all the DFA Entities. Senior Compliance Officer for Vice President Dimensional (since January 2008). Formerly, Compliance Officer 1978 (February 2006-December 2007). ----------------------------------------------------------------------------------------------------------------------- Matthew A. Pawlak Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional Fund Advisors LP (since 2012). Formerly, Senior 1977 Consultant at Hewitt EnnisKnupp (June 2011-December 2011); Senior Investment Analyst and Consultant at Hewitt EnnisKnupp (July 2008-June 2011). ----------------------------------------------------------------------------------------------------------------------- Brian P. Pitre Since 2013 Vice President of all the DFA Entities. Counsel for Dimensional Vice President Fund Advisors LP (since 2009). Formerly, Vice President and 1976 Corporate Counsel at Mellon Capital Management (2006-2008). ----------------------------------------------------------------------------------------------------------------------- David A. Plecha Since 1993 Vice President of all the DFA Entities, DFA Australia Limited, Vice President Dimensional Fund Advisors Ltd. and Dimensional Fund Advisors 1961 Canada ULC. ----------------------------------------------------------------------------------------------------------------------- Allen Pu Since 2011 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since July 2006). 1970 ----------------------------------------------------------------------------------------------------------------------- Theodore W. Randall Since 2008 Vice President of all the DFA Entities. Formerly, Research Vice President Associate of Dimensional (2006-2008). 1973 ----------------------------------------------------------------------------------------------------------------------- Mark A. Regier Since 2013 Vice President of all the DFA Entities. Planning and Analysis Vice President Manager for Dimensional (since July 2007). 1969 ----------------------------------------------------------------------------------------------------------------------- Savina B. Rizova Since 2012 Vice President of all the DFA Entities. Formerly, Research Vice President Associate for Dimensional (June 2011-January 2012); Research 1981 Assistant for Dimensional (July 2004-August 2007). ----------------------------------------------------------------------------------------------------------------------- L. Jacobo Rodriguez Since 2005 Vice President of all the DFA Entities. Vice President 1971 ----------------------------------------------------------------------------------------------------------------------- Julie A. Saft Since 2010 Vice President of all the DFA Entities. Client Systems Manager for Vice President Dimensional (since July 2008). 1959 ----------------------------------------------------------------------------------------------------------------------- Walid A. Shinnawi Since 2010 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (March 2006-January 2010). 1961 ----------------------------------------------------------------------------------------------------------------------- Bruce A. Simmons Since 2009 Vice President of all the DFA Entities. Investment Operations Vice President Manager for Dimensional (since May 2007). 1965 ----------------------------------------------------------------------------------------------------------------------- Ted R. Simpson Since 2007 Vice President of all the DFA Entities. Vice President 1968 ----------------------------------------------------------------------------------------------------------------------- Bryce D. Skaff Since 2007 Vice President of all the DFA Entities. Vice President 1975 ----------------------------------------------------------------------------------------------------------------------- Andrew D. Smith Since 2011 Vice President of all the DFA Entities. Project Manager for Vice President Dimensional (2007-2010). 1968 ----------------------------------------------------------------------------------------------------------------------- Grady M. Smith Since 2004 Vice President of all the DFA Entities and Dimensional Fund Vice President Advisors Canada ULC. 1956 ----------------------------------------------------------------------------------------------------------------------- 34 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years --------------------------------------------------------------------------------------------------------------------- Carl G. Snyder Since 2000 Vice President of all the DFA Entities. Vice President 1963 --------------------------------------------------------------------------------------------------------------------- Lawrence R. Spieth Since 2004 Vice President of all the DFA Entities. Vice President 1947 --------------------------------------------------------------------------------------------------------------------- Bradley G. Steiman Since 2004 Vice President of all the DFA Entities and Director and Vice Vice President President of Dimensional Fund Advisors Canada ULC. 1973 --------------------------------------------------------------------------------------------------------------------- Richard H. Tatlow Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since April 2010). Formerly, Principal, Investment 1971 Strategist at Barclays Global Investors (2004-2009). --------------------------------------------------------------------------------------------------------------------- Blake T. Tatsuta Since 2013 Vice President of all the DFA Entities, Manager, Investment Vice President Analytics and Data for Dimensional (since 2012). Formerly, 1973 Research Assistant at Dimensional (2002-2011). --------------------------------------------------------------------------------------------------------------------- Erik T. Totten Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since 2010). Formerly, Senior Associate at 1980 Dimensional (2007-2009). --------------------------------------------------------------------------------------------------------------------- John H. Totten Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (January 2008-January 2012). 1978 --------------------------------------------------------------------------------------------------------------------- Robert C. Trotter Since 2009 Vice President of all the DFA Entities. Senior Manager, Technology Vice President for Dimensional (since March 2007). 1958 --------------------------------------------------------------------------------------------------------------------- Karen E. Umland Since 1997 Vice President of all the DFA Entities, DFA Australia Limited, Vice President Dimensional Fund Advisors Ltd., and Dimensional Fund Advisors 1966 Canada ULC. --------------------------------------------------------------------------------------------------------------------- Brian J. Walsh Since 2009 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since 2004). 1970 --------------------------------------------------------------------------------------------------------------------- Weston J. Wellington Since 1997 Vice President of all the DFA Entities. Vice President 1951 --------------------------------------------------------------------------------------------------------------------- Ryan J. Wiley Since 2007 Vice President of all the DFA Entities. Vice President 1976 --------------------------------------------------------------------------------------------------------------------- Paul E. Wise Since 2005 Vice President of all the DFA Entities. Vice President 1955 --------------------------------------------------------------------------------------------------------------------- Joseph L. Young Since 2011 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (2005-2010). 1978 --------------------------------------------------------------------------------------------------------------------- /1/ Each officer holds office for an indefinite term at the pleasure of the Boards of Trustees/Directors and until his or her successor is elected and qualified. 35 VOTING PROXIES ON FUND PORTFOLIO SECURITIES A description of the policies and procedures that the Fund uses in voting proxies relating to securities held in the portfolio is available without charge, upon request, by calling collect: (512) 306-7400. Information regarding how the Advisor votes these proxies is available from the EDGAR database on the SEC's website at http://www.sec.gov and from the Advisor's website at http://www.dimensional.com and reflects the twelve-month period beginning July 1st and ending June 30th. 36 NOTICE TO SHAREHOLDERS (Unaudited) For shareholders that do not have an October 31, 2013 tax year end, this notice is for informational purposes only. For shareholders with an October 31, 2013 tax year end, please consult your tax advisor as to the pertinence of this notice. For the fiscal year November 1, 2012 to October 31, 2013, each Portfolio is designating the following items with regard to distributions paid during the fiscal year. All designations are based on financial information available as of the date of this annual report and, accordingly are subject to change. For each item, it is the intention of the Portfolio to designate the maximum amount permitted under the Internal Revenue Code and the regulations thereunder. Qualifying For Net Corporate Investment Short-Term Long-Term Dividends Qualifying Foreign Foreign DFA Investment Income Capital Gain Capital Gain Total Received Dividend Tax Source Dimensions Group Inc. Distributions Distributions Distributions Distributions Deduction (1) Income (2) Credit (3) Income (4) --------------------- ------------- ------------- ------------- ------------- ------------- ---------- ---------- ---------- CSTG&E U.S. Social Core Equity 2 Portfolio............ 100% -- -- 100% 100% 100% -- -- CSTG&E International Social Core Equity Portfolio............ 100% -- -- 100% 100% 100% 6% 100% Qualifying Short- Qualifying Term DFA Investment Interest Capital Dimensions Group Inc. Income (5) Gain (6) --------------------- ---------- ---------- CSTG&E U.S. Social Core Equity 2 Portfolio............ 100% 100% CSTG&E International Social Core Equity Portfolio............ 100% 100% ---------- (1)Qualifying dividends represent dividends which qualify for the corporate dividends received deduction and is reflected as a percentage of ordinary income distributions (the total of short-term capital gain and net investment income distributions). (2)The percentage in this column represents the amount of "Qualifying Dividend Income" as created by the Jobs and Growth Tax Relief Reconciliation Act of 2003 and is reflected as a percentage of ordinary income distributions (the total of short-term capital gain and net investment income distributions). Please note that these percentages are designated only, refer to your 1099 for actual qualified dividend income. (3)"Foreign Tax Credit" represents dividends which qualify for the foreign tax credit pass through and is reflected as a percentage of investment company taxable income. (4)"Foreign Source Income" represents the portion of dividends derived from foreign sources, and is reflected as a percentage of investment company taxable income. (5)The percentage in this column represents the amount of "Qualifying Interest Income" as created by The American Jobs Creation Act of 2004. The information is reflected as a percentage ordinary income distributions (the total of short-term capital gain and net investment income distributions). (6)The percentage in this column represents the amount of "Qualifying Short-Term Capital Gain" as created by The American Jobs Creation Act of 2004. The information is reflected as a percentage of ordinary income distributions (the total of short-term capital gain and net investment income distributions). 37 [LOGO] DFA103113-015A [LOGO] ANNUAL REPORT year ended: October 31, 2013 DFA Investment Dimensions Group Inc. VA U.S. Targeted Value Portfolio VA U.S. Large Value Portfolio VA International Value Portfolio VA International Small Portfolio VA Short-Term Fixed Portfolio VA Global Bond Portfolio DFA VA Global Moderate Allocation Portfolio [LOGO] Dimensional Fund Advisors 6300 Bee Cave Road, Building One Austin, TX 78746 November 2013 Dear Fellow Shareholder, Our goal at Dimensional is to deliver an outstanding investment experience to our clients. Our close ties to academia help us identify leading research that can be beneficial to investors, and our team works to interpret, rigorously test, and consider the practical applicability of those ideas in carefully implemented investment strategies. This focus on research and implementation has been central to Dimensional's approach since our founding and will continue to be a key part of our offer to investors. Sincerely, /s/ David G. Booth Chairman and Co-Chief Executive Officer DFA INVESTMENT DIMENSIONS GROUP INC. ANNUAL REPORT Table of Contents Page ---- Letter to Shareholders Definitions of Abbreviations and Footnotes....................... 1 Performance Charts............................................... 2 Management's Discussion and Analysis............................. 6 Disclosure of Fund Expenses...................................... 11 Disclosure of Portfolio Holdings................................. 13 Summary Schedules of Portfolio Holdings/Schedules of Investments 15 VA U.S. Targeted Value Portfolio.............................. 15 VA U.S. Large Value Portfolio................................. 18 VA International Value Portfolio.............................. 21 VA International Small Portfolio.............................. 25 VA Short-Term Fixed Portfolio................................. 29 VA Global Bond Portfolio...................................... 32 DFA VA Global Moderate Allocation Portfolio................... 35 Statements of Assets and Liabilities............................. 36 Statements of Operations......................................... 38 Statements of Changes in Net Assets.............................. 40 Financial Highlights............................................. 43 Notes to Financial Statements.................................... 47 Report of Independent Registered Public Accounting Firm.......... 60 Fund Management.................................................. 61 Voting Proxies on Fund Portfolio Securities...................... 70 Notice to Shareholders........................................... 71 This report is submitted for the information of the Fund's shareholders. It is not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus. i DFA INVESTMENT DIMENSIONS GROUP INC. DEFINITIONS OF ABBREVIATIONS AND FOOTNOTES Summary Schedules of Portfolio Holdings/Schedules of Investments ---------------------------------------------------------------- Investment Abbreviations ADR American Depositary Receipt FNMA Federal National Mortgage Association P.L.C. Public Limited Company DKK Danish Krone EUR Euro GBP British Pounds USD United States Dollar Investment Footnotes + See Note B to Financial Statements. ++ Securities have generally been fair valued. See Note B to Financial Statements. ** Calculated as a percentage of total net assets. Percentages shown parenthetically next to the category headings have been calculated as a percentage of total investments. "Other Securities" are those securities that are not among the top 50 holdings of the Fund or do not represent more than 1.0% of the net assets of the Fund. Some of the individual securities within this category may include Total or Partial Securities on Loan and/or Non-Income Producing Securities. * Non-Income Producing Securities. # Total or Partial Securities on Loan. ^ Denominated in USD, unless otherwise noted. @ Security purchased with cash proceeds from Securities on Loan. (r) The adjustable rate shown is effective as of October 31, 2013. ## Rule 144A, Section 4(2), or other security which is restricted as to resale to institutional investors. The Fund's Advisor has deemed this security to be liquid based upon procedures approved by the Board of Trustees. (S) Affiliated Fund. Financial Highlights -------------------- (A) Computed using average shares outstanding. (B) Represents the combined ratios for the respective portfolio and its respective pro-rata share of its Master Funds. (C) Because of commencement of operations and related preliminary transaction costs, these ratios are not necessarily indicative of future ratios. (D) Non-Annualized (E) Annualized All Statements, Schedules and Notes to Financial Statements ----------------------------------------------------------- -- Amounts designated as -- are either zero or rounded to zero. REIT Real Estate Investment Trust SEC Securities and Exchange Commission (a) Commencement of Operations. 1 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- VA U.S. TARGETED VALUE PORTFOLIO VS. RUSSELL 2000(R) VALUE INDEX October 31, 2003-October 31, 2013 [CHARTS] VA U.S. Targeted Value Portfolio Russell 2000 Value Index -------------------------------- ------------------------ 10/31/2003 $10,000 $10,000 11/30/2003 10,409 10,384 12/31/2003 10,905 10,760 01/31/2004 11,525 11,132 02/29/2004 11,640 11,348 03/31/2004 11,732 11,505 04/30/2004 11,280 10,910 05/31/2004 11,357 11,042 06/30/2004 12,015 11,603 07/31/2004 11,311 11,069 08/31/2004 11,173 11,178 09/30/2004 11,709 11,620 10/31/2004 11,816 11,800 11/30/2004 12,971 12,847 12/31/2004 13,428 13,154 01/31/2005 12,896 12,645 02/28/2005 13,205 12,897 03/31/2005 12,939 12,631 04/30/2005 11,986 11,979 05/31/2005 12,776 12,710 06/30/2005 13,316 13,272 07/31/2005 14,234 14,027 08/31/2005 13,977 13,705 09/30/2005 14,020 13,682 10/31/2005 13,608 13,339 11/30/2005 14,217 13,880 12/31/2005 14,228 13,773 01/31/2006 15,468 14,912 02/28/2006 15,449 14,911 03/31/2006 16,266 15,633 04/30/2006 16,384 15,675 05/31/2006 15,626 15,026 06/30/2006 15,665 15,211 07/31/2006 15,124 15,000 08/31/2006 15,498 15,448 09/30/2006 15,675 15,599 10/31/2006 16,502 16,393 11/30/2006 16,965 16,860 12/31/2006 17,210 17,007 01/31/2007 17,505 17,262 02/28/2007 17,403 17,050 03/31/2007 17,517 17,256 04/30/2007 17,721 17,435 05/31/2007 18,322 18,074 06/30/2007 17,993 17,653 07/31/2007 16,519 16,150 08/31/2007 16,428 16,474 09/30/2007 16,383 16,548 10/31/2007 16,394 16,729 11/30/2007 15,022 15,475 12/31/2007 14,808 15,344 01/31/2008 14,230 14,715 02/29/2008 13,690 14,130 03/31/2008 13,803 14,343 04/30/2008 13,929 14,797 05/31/2008 14,381 15,303 06/30/2008 12,761 13,835 07/31/2008 13,113 14,544 08/31/2008 13,753 15,235 09/30/2008 12,912 14,521 10/31/2008 10,211 11,620 11/30/2008 8,842 10,274 12/31/2008 9,338 10,906 01/31/2009 7,921 9,348 02/28/2009 6,840 8,050 03/31/2009 7,548 8,764 04/30/2009 8,978 10,155 05/31/2009 9,287 10,375 06/30/2009 9,313 10,342 07/31/2009 10,420 11,538 08/31/2009 10,858 12,084 09/30/2009 11,399 12,690 10/31/2009 10,652 11,847 11/30/2009 10,987 12,224 12/31/2009 11,824 13,150 01/31/2010 11,512 12,765 02/28/2010 12,162 13,357 03/31/2010 13,099 14,468 04/30/2010 14,061 15,480 05/31/2010 12,917 14,172 06/30/2010 11,798 12,935 07/31/2010 12,722 13,858 08/31/2010 11,746 12,816 09/30/2010 13,086 14,192 10/31/2010 13,528 14,742 11/30/2010 14,022 15,117 12/31/2010 15,261 16,373 01/31/2011 15,314 16,381 02/28/2011 16,099 17,213 03/31/2011 16,400 17,452 04/30/2011 16,688 17,736 05/31/2011 16,321 17,418 06/30/2011 16,033 16,990 07/31/2011 15,523 16,428 08/31/2011 14,070 14,977 09/30/2011 12,486 13,341 10/31/2011 14,332 15,264 11/30/2011 14,371 15,234 12/31/2011 14,567 15,472 01/31/2012 15,478 16,500 02/29/2012 15,979 16,746 03/31/2012 16,388 17,265 04/30/2012 16,111 17,015 05/31/2012 14,976 15,976 06/30/2012 15,557 16,746 07/31/2012 15,478 16,575 08/31/2012 16,164 17,086 09/30/2012 16,705 17,695 10/31/2012 16,599 17,473 11/30/2012 16,903 17,526 12/31/2012 17,497 18,265 01/31/2013 18,689 19,353 02/28/2013 19,050 19,574 03/31/2013 19,987 20,389 04/30/2013 19,827 20,369 05/31/2013 20,817 20,978 06/30/2013 20,737 20,893 Past performance is not predictive of 07/31/2013 22,236 22,236 future performance. 08/31/2013 21,447 21,252 09/30/2013 22,625 22,479 The returns shown do not reflect the 10/31/2013 23,602 23,210 deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Average Annual One Five Ten Total Return Year Years Years Russell data copyright (C) Russell --------------------------------------------------------------- Investment Group 1995-2013, all rights 42.19% 18.24% 8.97% reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- VA U.S. LARGE VALUE PORTFOLIO VS. RUSSELL 1000(R) VALUE INDEX October 31, 2003-October 31, 2013 [CHARTS] VA U.S. Large Value Portfolio Russell 1000 Value Index ----------------------------- ------------------------ 10/31/2003 $10,000 $10,000 11/30/2003 10,211 10,136 12/31/2003 10,906 10,760 01/31/2004 11,103 10,950 02/29/2004 11,374 11,184 03/31/2004 11,284 11,086 04/30/2004 11,103 10,815 05/31/2004 11,169 10,925 06/30/2004 11,480 11,183 07/31/2004 11,079 11,026 08/31/2004 11,062 11,182 09/30/2004 11,407 11,356 10/31/2004 11,538 11,544 11/30/2004 12,309 12,128 12/31/2004 12,803 12,534 01/31/2005 12,464 12,311 02/28/2005 12,844 12,719 03/31/2005 12,803 12,545 04/30/2005 12,364 12,320 05/31/2005 12,878 12,617 06/30/2005 13,143 12,755 07/31/2005 13,772 13,124 08/31/2005 13,673 13,067 09/30/2005 13,888 13,250 10/31/2005 13,490 12,914 11/30/2005 14,020 13,336 12/31/2005 14,043 13,416 01/31/2006 14,733 13,937 02/28/2006 14,663 14,022 03/31/2006 14,934 14,212 04/30/2006 15,336 14,573 05/31/2006 15,091 14,205 06/30/2006 15,205 14,295 07/31/2006 14,995 14,643 08/31/2006 15,240 14,888 09/30/2006 15,633 15,185 10/31/2006 16,218 15,682 11/30/2006 16,507 16,040 12/31/2006 16,824 16,400 01/31/2007 17,305 16,610 02/28/2007 17,079 16,351 03/31/2007 17,201 16,603 04/30/2007 17,907 17,217 05/31/2007 18,632 17,838 06/30/2007 18,331 17,421 07/31/2007 17,239 16,616 08/31/2007 16,900 16,802 09/30/2007 17,333 17,379 10/31/2007 17,399 17,381 11/30/2007 16,429 16,531 12/31/2007 16,329 16,371 01/31/2008 15,748 15,716 02/29/2008 15,232 15,057 03/31/2008 15,061 14,944 04/30/2008 15,996 15,673 05/31/2008 16,348 15,648 06/30/2008 14,527 14,150 07/31/2008 14,527 14,099 08/31/2008 14,794 14,339 09/30/2008 13,554 13,285 10/31/2008 10,587 10,985 11/30/2008 9,538 10,198 12/31/2008 9,814 10,339 01/31/2009 8,593 9,150 02/28/2009 7,373 7,928 03/31/2009 8,091 8,606 04/30/2009 9,440 9,528 05/31/2009 10,178 10,117 06/30/2009 10,060 10,042 07/31/2009 11,025 10,864 08/31/2009 11,763 11,433 09/30/2009 12,265 11,874 10/31/2009 11,753 11,511 11/30/2009 12,413 12,160 12/31/2009 12,751 12,375 01/31/2010 12,461 12,027 02/28/2010 12,992 12,407 03/31/2010 14,003 13,214 04/30/2010 14,444 13,556 05/31/2010 13,222 12,442 06/30/2010 12,231 11,742 07/31/2010 13,182 12,536 08/31/2010 12,401 12,000 09/30/2010 13,623 12,931 10/31/2010 14,114 13,319 11/30/2010 14,024 13,248 12/31/2010 15,382 14,294 01/31/2011 15,881 14,617 02/28/2011 16,736 15,156 03/31/2011 16,798 15,217 04/30/2011 17,225 15,622 05/31/2011 16,981 15,457 06/30/2011 16,665 15,140 07/31/2011 15,891 14,638 08/31/2011 14,567 13,724 09/30/2011 13,069 12,687 10/31/2011 14,872 14,139 11/30/2011 14,740 14,066 12/31/2011 14,854 14,350 01/31/2012 15,591 14,893 02/29/2012 16,493 15,486 03/31/2012 16,805 15,945 04/30/2012 16,442 15,783 05/31/2012 15,269 14,857 06/30/2012 16,058 15,595 07/31/2012 16,213 15,756 08/31/2012 16,867 16,098 09/30/2012 17,479 16,609 10/31/2012 17,531 16,528 11/30/2012 17,562 16,521 12/31/2012 18,114 16,862 01/31/2013 19,403 17,958 02/28/2013 19,603 18,216 03/31/2013 20,543 18,937 04/30/2013 20,776 19,224 05/31/2013 21,695 19,717 06/30/2013 21,378 19,543 Past performance is not predictive of 07/31/2013 22,687 20,599 future performance. 08/31/2013 22,011 19,817 09/30/2013 22,677 20,314 The returns shown do not reflect the 10/31/2013 23,849 21,203 deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Average Annual One Five Ten Total Return Year Years Years Russell data copyright (C) Russell --------------------------------------------------------------- Investment Group 1995-2013, all rights 36.04% 17.64% 9.08% reserved. -------------------------------------------------------------------------------- 2 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- VA INTERNATIONAL VALUE PORTFOLIO VS. MSCI WORLD EX USA INDEX (NET DIVIDENDS) October 31, 2003-October 31, 2013 [CHARTS] VA International MSCI World ex USA Value Portfolio Index (net div.) ----------------- ------------------- 10/31/2003 $10,000 $10,000 11/30/2003 10,150 10,227 12/31/2003 10,937 11,011 01/31/2004 11,186 11,164 02/29/2004 11,482 11,421 03/31/2004 11,676 11,478 04/30/2004 11,380 11,178 05/31/2004 11,482 11,230 06/30/2004 11,926 11,489 07/31/2004 11,371 11,139 08/31/2004 11,491 11,185 09/30/2004 11,778 11,511 10/31/2004 12,259 11,925 11/30/2004 13,174 12,718 12/31/2004 13,859 13,255 01/31/2005 13,754 12,994 02/28/2005 14,250 13,572 03/31/2005 13,888 13,264 04/30/2005 13,506 12,926 05/31/2005 13,516 12,950 06/30/2005 13,744 13,161 07/31/2005 14,355 13,586 08/31/2005 14,860 13,961 09/30/2005 15,347 14,599 10/31/2005 15,080 14,127 11/30/2005 15,337 14,501 12/31/2005 16,137 15,173 01/31/2006 17,244 16,133 02/28/2006 17,388 16,079 03/31/2006 18,136 16,589 04/30/2006 19,049 17,382 05/31/2006 18,290 16,722 06/30/2006 18,157 16,700 07/31/2006 18,475 16,857 08/31/2006 19,079 17,336 09/30/2006 19,336 17,322 10/31/2006 20,207 18,006 11/30/2006 20,884 18,543 12/31/2006 21,700 19,074 01/31/2007 22,125 19,191 02/28/2007 22,069 19,344 03/31/2007 22,807 19,840 04/30/2007 23,936 20,742 05/31/2007 24,752 21,203 06/30/2007 24,640 21,224 07/31/2007 23,913 20,931 08/31/2007 23,611 20,628 09/30/2007 24,875 21,800 10/31/2007 26,127 22,748 11/30/2007 24,573 21,858 12/31/2007 24,033 21,447 01/31/2008 22,017 19,513 02/29/2008 21,688 19,867 03/31/2008 22,017 19,583 04/30/2008 23,006 20,672 05/31/2008 22,943 20,986 06/30/2008 20,636 19,354 07/31/2008 20,141 18,665 08/31/2008 19,292 17,943 09/30/2008 17,277 15,353 10/31/2008 12,929 12,159 11/30/2008 12,169 11,500 12/31/2008 13,024 12,106 01/31/2009 11,234 10,976 02/28/2009 9,845 9,865 03/31/2009 10,818 10,515 04/30/2009 12,808 11,871 05/31/2009 14,737 13,373 06/30/2009 14,506 13,234 07/31/2009 16,234 14,477 08/31/2009 17,129 15,170 09/30/2009 18,024 15,796 10/31/2009 17,314 15,543 11/30/2009 17,793 15,927 12/31/2009 17,966 16,181 01/31/2010 16,952 15,423 02/28/2010 17,032 15,407 03/31/2010 18,377 16,399 04/30/2010 18,092 16,155 05/31/2010 16,019 14,372 06/30/2010 15,575 14,164 07/31/2010 17,570 15,473 08/31/2010 16,683 15,011 09/30/2010 18,472 16,451 10/31/2010 19,105 17,037 11/30/2010 18,155 16,315 12/31/2010 19,857 17,629 01/31/2011 20,745 18,009 02/28/2011 21,489 18,676 03/31/2011 20,842 18,302 04/30/2011 21,909 19,299 05/31/2011 21,101 18,727 06/30/2011 20,762 18,460 07/31/2011 20,148 18,156 08/31/2011 17,918 16,621 09/30/2011 15,963 14,952 10/31/2011 17,563 16,406 11/30/2011 16,965 15,648 12/31/2011 16,491 15,477 01/31/2012 17,685 16,312 02/29/2012 18,643 17,209 03/31/2012 18,441 17,082 04/30/2012 17,718 16,792 05/31/2012 15,533 14,878 06/30/2012 16,710 15,852 07/31/2012 16,575 16,050 08/31/2012 17,315 16,508 09/30/2012 17,937 17,009 10/31/2012 18,189 17,128 11/30/2012 18,407 17,488 12/31/2012 19,292 18,017 01/31/2013 20,229 18,903 02/28/2013 19,587 18,715 03/31/2013 19,639 18,863 04/30/2013 20,507 19,722 05/31/2013 20,264 19,281 06/30/2013 19,483 18,558 07/31/2013 20,801 19,546 Past performance is not predictive of 08/31/2013 20,645 19,294 future performance. 09/30/2013 22,189 20,657 10/31/2013 22,935 21,350 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the Average Annual One Five Ten redemption of fund shares. Total Return Year Years Years ---------------------------------------------------- MSCI data copyright MSCI 2013, all 26.10% 12.15% 8.66% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- VA INTERNATIONAL SMALL PORTFOLIO VS. MSCI WORLD EX USA SMALL CAP INDEX (NET DIVIDENDS) October 31, 2003-October 31, 2013 [CHARTS] VA International MSCI World ex USA Small Portfolio Small Cap Index(net div.) ----------------- -------------------------- 10/31/2003 $10,000 $10,000 11/30/2003 10,011 10,009 12/31/2003 10,592 10,620 01/31/2004 11,091 11,076 02/29/2004 11,417 11,412 03/31/2004 11,835 11,852 04/30/2004 11,452 11,428 05/31/2004 11,359 11,305 06/30/2004 11,928 11,876 07/31/2004 11,452 11,352 08/31/2004 11,556 11,411 09/30/2004 11,800 11,723 10/31/2004 12,137 12,157 11/30/2004 13,031 13,129 12/31/2004 13,658 13,741 01/31/2005 13,923 13,953 02/28/2005 14,491 14,546 03/31/2005 14,237 14,309 04/30/2005 13,839 13,906 05/31/2005 13,658 13,939 06/30/2005 14,020 14,309 07/31/2005 14,575 14,930 08/31/2005 15,190 15,388 09/30/2005 15,601 16,012 10/31/2005 15,311 15,429 11/30/2005 15,601 15,943 12/31/2005 16,635 17,183 01/31/2006 17,831 18,408 02/28/2006 17,790 18,177 03/31/2006 18,633 19,031 04/30/2006 19,476 19,917 05/31/2006 18,483 18,816 06/30/2006 18,144 18,358 07/31/2006 17,926 17,910 08/31/2006 18,416 18,433 09/30/2006 18,524 18,384 10/31/2006 19,217 19,114 11/30/2006 20,060 19,936 12/31/2006 20,764 20,526 01/31/2007 21,313 20,945 02/28/2007 21,669 21,312 03/31/2007 22,455 22,018 04/30/2007 23,286 22,868 05/31/2007 23,805 23,205 06/30/2007 23,746 23,155 07/31/2007 23,701 23,012 08/31/2007 22,767 21,799 09/30/2007 23,316 22,291 10/31/2007 24,695 23,796 11/30/2007 22,856 21,840 12/31/2007 22,135 21,200 01/31/2008 20,427 19,145 02/29/2008 20,946 20,054 03/31/2008 20,980 19,832 04/30/2008 21,432 20,315 05/31/2008 22,051 20,725 06/30/2008 20,478 19,125 07/31/2008 19,523 18,161 08/31/2008 18,803 17,489 09/30/2008 15,957 14,413 10/31/2008 12,273 10,855 11/30/2008 11,721 10,329 12/31/2008 12,644 11,018 01/31/2009 11,609 10,378 02/28/2009 10,480 9,430 03/31/2009 11,139 10,036 04/30/2009 12,700 11,583 05/31/2009 14,488 13,297 06/30/2009 14,620 13,456 07/31/2009 15,711 14,538 08/31/2009 16,765 15,658 09/30/2009 17,743 16,538 10/31/2009 17,310 16,283 11/30/2009 17,536 16,410 12/31/2009 17,685 16,617 01/31/2010 17,436 16,398 02/28/2010 17,340 16,305 03/31/2010 18,663 17,517 04/30/2010 18,932 17,863 05/31/2010 16,745 15,717 06/30/2010 16,649 15,569 07/31/2010 18,222 16,904 08/31/2010 17,627 16,465 09/30/2010 19,603 18,333 10/31/2010 20,370 19,089 11/30/2010 19,814 18,589 12/31/2010 22,071 20,690 01/31/2011 22,286 20,799 02/28/2011 22,952 21,390 03/31/2011 22,971 21,370 04/30/2011 24,086 22,430 05/31/2011 23,441 21,809 06/30/2011 23,030 21,337 07/31/2011 22,775 21,220 08/31/2011 21,054 19,544 09/30/2011 18,627 17,300 10/31/2011 19,958 18,705 11/30/2011 19,351 17,765 12/31/2011 18,800 17,419 01/31/2012 20,363 18,858 02/29/2012 21,419 19,926 03/31/2012 21,567 19,794 04/30/2012 21,335 19,691 05/31/2012 18,884 17,377 06/30/2012 19,645 17,977 07/31/2012 19,560 18,116 08/31/2012 20,215 18,636 09/30/2012 21,039 19,519 10/31/2012 21,166 19,614 11/30/2012 21,377 19,715 12/31/2012 22,450 20,464 01/31/2013 23,374 21,449 02/28/2013 23,396 21,525 03/31/2013 23,814 21,945 04/30/2013 24,409 22,582 05/31/2013 23,858 22,052 06/30/2013 23,286 21,180 07/31/2013 24,783 22,504 Past performance is not predictive of 08/31/2013 24,695 22,464 future performance. 09/30/2013 26,742 24,350 10/31/2013 27,622 25,070 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the Average Annual One Five Ten redemption of fund shares. Total Return Year Years Years ------------------------------------------------------------ MSCI data copyright MSCI 2013, all 30.50% 17.61% 10.69% rights reserved. -------------------------------------------------------------------------------- 3 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- VA SHORT-TERM FIXED PORTFOLIO VS. THE BOFA MERRILL LYNCH U.S. 6-MONTH TREASURY BILL INDEX, THE BOFA MERRILL LYNCH U.S. 1-YEAR TREASURY NOTE INDEX October 31, 2003-October 31, 2013 [CHARTS] The BofA Merrill The BofA Merrill VA Short-Term Lynch US 6-Month Lynch 1-Year US Fixed Portfolio Treasury Bill Index Treasury Note Index --------------- ------------------- ------------------- 10/31/2003 $10,000 $10,000 $10,000 11/30/2003 10,000 10,009 9,998 12/31/2003 10,031 10,023 10,029 01/31/2004 10,051 10,033 10,044 02/29/2004 10,071 10,041 10,065 03/31/2004 10,091 10,050 10,074 04/30/2004 10,041 10,055 10,048 05/31/2004 10,031 10,060 10,047 06/30/2004 10,031 10,064 10,044 07/31/2004 10,051 10,081 10,067 08/31/2004 10,091 10,098 10,097 09/30/2004 10,091 10,109 10,094 10/31/2004 10,111 10,122 10,111 11/30/2004 10,101 10,131 10,096 12/31/2004 10,110 10,145 10,112 01/31/2005 10,120 10,164 10,120 02/28/2005 10,120 10,178 10,120 03/31/2005 10,120 10,200 10,134 04/30/2005 10,160 10,228 10,170 05/31/2005 10,190 10,261 10,201 06/30/2005 10,210 10,281 10,219 07/31/2005 10,210 10,299 10,218 08/31/2005 10,250 10,331 10,261 09/30/2005 10,250 10,356 10,265 10/31/2005 10,270 10,385 10,277 11/30/2005 10,300 10,422 10,309 12/31/2005 10,330 10,460 10,350 01/31/2006 10,361 10,491 10,374 02/28/2006 10,392 10,521 10,400 03/31/2006 10,423 10,561 10,429 04/30/2006 10,453 10,600 10,463 05/31/2006 10,495 10,640 10,489 06/30/2006 10,526 10,677 10,516 07/31/2006 10,577 10,728 10,576 08/31/2006 10,629 10,777 10,631 09/30/2006 10,670 10,826 10,679 10/31/2006 10,711 10,868 10,723 11/30/2006 10,763 10,913 10,766 12/31/2006 10,808 10,963 10,797 01/31/2007 10,851 11,007 10,838 02/28/2007 10,893 11,052 10,893 03/31/2007 10,947 11,101 10,936 04/30/2007 10,990 11,149 10,973 05/31/2007 11,033 11,203 11,008 06/30/2007 11,075 11,247 11,061 07/31/2007 11,129 11,293 11,124 08/31/2007 11,172 11,374 11,207 09/30/2007 11,215 11,422 11,266 10/31/2007 11,268 11,467 11,301 11/30/2007 11,300 11,545 11,414 12/31/2007 11,346 11,578 11,439 01/31/2008 11,390 11,675 11,586 02/29/2008 11,424 11,706 11,646 03/31/2008 11,424 11,736 11,682 04/30/2008 11,458 11,750 11,659 05/31/2008 11,480 11,750 11,654 06/30/2008 11,502 11,765 11,661 07/31/2008 11,536 11,803 11,699 08/31/2008 11,558 11,828 11,732 09/30/2008 11,525 11,882 11,784 10/31/2008 11,581 11,930 11,852 11/30/2008 11,682 11,971 11,926 12/31/2008 11,794 11,992 11,982 01/31/2009 11,806 11,991 11,970 02/28/2009 11,794 11,993 11,951 03/31/2009 11,841 12,005 11,981 04/30/2009 11,887 12,020 12,004 05/31/2009 11,921 12,026 12,014 06/30/2009 11,944 12,029 12,020 07/31/2009 11,956 12,038 12,035 08/31/2009 11,991 12,045 12,050 09/30/2009 12,002 12,052 12,060 10/31/2009 12,025 12,056 12,072 11/30/2009 12,048 12,061 12,094 12/31/2009 12,014 12,062 12,077 01/31/2010 12,050 12,068 12,105 02/28/2010 12,061 12,069 12,111 03/31/2010 12,050 12,070 12,107 04/30/2010 12,061 12,073 12,114 05/31/2010 12,061 12,079 12,121 06/30/2010 12,097 12,083 12,139 07/31/2010 12,120 12,087 12,152 08/31/2010 12,132 12,092 12,163 09/30/2010 12,144 12,095 12,169 10/31/2010 12,156 12,101 12,177 11/30/2010 12,144 12,101 12,175 12/31/2010 12,148 12,105 12,178 01/31/2011 12,160 12,108 12,189 02/28/2011 12,160 12,110 12,192 03/31/2011 12,160 12,114 12,196 04/30/2011 12,183 12,119 12,209 05/31/2011 12,195 12,121 12,217 06/30/2011 12,195 12,124 12,220 07/31/2011 12,207 12,124 12,217 08/31/2011 12,207 12,133 12,238 09/30/2011 12,207 12,133 12,236 10/31/2011 12,207 12,135 12,240 11/30/2011 12,195 12,136 12,244 12/31/2011 12,200 12,138 12,247 01/31/2012 12,236 12,138 12,250 02/29/2012 12,236 12,137 12,247 03/31/2012 12,248 12,138 12,247 04/30/2012 12,260 12,140 12,253 05/31/2012 12,260 12,143 12,255 06/30/2012 12,272 12,145 12,252 07/31/2012 12,284 12,148 12,263 08/31/2012 12,296 12,150 12,266 09/30/2012 12,296 12,152 12,268 10/31/2012 12,296 12,152 12,268 11/30/2012 12,308 12,155 12,272 12/31/2012 12,303 12,158 12,276 01/31/2013 12,315 12,160 12,279 02/28/2013 12,315 12,161 12,281 03/31/2013 12,315 12,164 12,285 04/30/2013 12,327 12,167 12,291 05/31/2013 12,327 12,168 12,291 Past performance is not predictive of 06/30/2013 12,315 12,169 12,290 future performance. 07/31/2013 12,327 12,172 12,298 08/31/2013 12,315 12,174 12,300 The returns shown do not reflect the 09/30/2013 12,339 12,177 12,306 deduction of taxes that a shareholder 10/31/2013 12,339 12,176 12,306 would pay on fund distributions or the redemption of fund shares. Average Annual One Five Ten The Merrill Lynch Indices are used with Total Return Year Years Years permission; copyright 2013 Merrill -------------------------------------------------------------- Lynch, Pierce, Fenner & Smith 0.35% 1.28% 2.12% Incorporated; all rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- VA GLOBAL BOND PORTFOLIO VS. CITIGROUP WORLD GOVERNMENT BOND INDEX, 1-5 YEARS, CURRENCY-HEDGED IN USD TERMS October 31, 2003-October 31, 2013 [CHARTS] VA Global Bond Citi World Government Bond Index, Portfolio 1-5 Years,Currency-Hedged in USD Terms ----------- -------------------------------------- 10/31/2003 $10,000 $10,000 11/30/2003 10,000 10,002 12/31/2003 10,082 10,063 01/31/2004 10,161 10,099 02/29/2004 10,268 10,160 03/31/2004 10,366 10,189 04/30/2004 10,053 10,124 05/31/2004 10,004 10,118 06/30/2004 10,024 10,119 07/31/2004 10,102 10,151 08/31/2004 10,297 10,230 09/30/2004 10,317 10,246 10/31/2004 10,385 10,290 11/30/2004 10,297 10,307 12/31/2004 10,362 10,331 01/31/2005 10,372 10,365 02/28/2005 10,322 10,354 03/31/2005 10,282 10,385 04/30/2005 10,412 10,461 05/31/2005 10,501 10,514 06/30/2005 10,571 10,566 07/31/2005 10,501 10,545 08/31/2005 10,601 10,599 09/30/2005 10,531 10,584 10/31/2005 10,481 10,574 11/30/2005 10,501 10,608 12/31/2005 10,536 10,649 01/31/2006 10,546 10,667 02/28/2006 10,556 10,677 03/31/2006 10,525 10,668 04/30/2006 10,536 10,696 05/31/2006 10,598 10,737 06/30/2006 10,609 10,760 07/31/2006 10,682 10,839 08/31/2006 10,776 10,934 09/30/2006 10,817 10,983 10/31/2006 10,859 11,021 11/30/2006 10,911 11,077 12/31/2006 10,929 11,084 01/31/2007 10,981 11,124 02/28/2007 11,034 11,196 03/31/2007 11,075 11,232 04/30/2007 11,117 11,267 05/31/2007 11,149 11,255 06/30/2007 11,170 11,284 07/31/2007 11,232 11,381 08/31/2007 11,306 11,501 09/30/2007 11,348 11,564 10/31/2007 11,421 11,623 11/30/2007 11,463 11,749 12/31/2007 11,521 11,783 01/31/2008 11,585 11,959 02/29/2008 11,649 12,038 03/31/2008 11,670 12,035 04/30/2008 11,574 11,956 05/31/2008 11,531 11,887 06/30/2008 11,574 11,888 07/31/2008 11,638 11,976 08/31/2008 11,713 12,050 09/30/2008 11,638 12,128 10/31/2008 11,713 12,304 11/30/2008 11,884 12,436 12/31/2008 12,034 12,560 01/31/2009 12,023 12,565 02/28/2009 12,012 12,591 03/31/2009 12,045 12,656 04/30/2009 12,100 12,658 05/31/2009 12,178 12,664 06/30/2009 12,244 12,684 07/31/2009 12,365 12,731 08/31/2009 12,487 12,775 09/30/2009 12,575 12,815 10/31/2009 12,642 12,828 11/30/2009 12,796 12,896 12/31/2009 12,613 12,848 01/31/2010 12,774 12,897 02/28/2010 12,855 12,951 03/31/2010 12,843 12,946 04/30/2010 12,935 12,952 05/31/2010 13,016 13,036 06/30/2010 13,131 13,069 07/31/2010 13,304 13,116 08/31/2010 13,465 13,179 09/30/2010 13,511 13,169 10/31/2010 13,603 13,182 11/30/2010 13,476 13,118 12/31/2010 13,311 13,103 01/31/2011 13,336 13,094 02/28/2011 13,323 13,082 03/31/2011 13,336 13,073 04/30/2011 13,509 13,112 05/31/2011 13,658 13,176 06/30/2011 13,658 13,183 07/31/2011 13,869 13,230 08/31/2011 13,968 13,344 09/30/2011 13,943 13,349 10/31/2011 13,980 13,330 11/30/2011 13,807 13,304 12/31/2011 13,911 13,406 01/31/2012 14,067 13,464 02/29/2012 14,093 13,486 03/31/2012 14,132 13,475 04/30/2012 14,184 13,502 05/31/2012 14,275 13,515 06/30/2012 14,275 13,528 07/31/2012 14,457 13,573 08/31/2012 14,496 13,609 09/30/2012 14,522 13,633 10/31/2012 14,535 13,641 11/30/2012 14,587 13,676 12/31/2012 14,587 13,688 01/31/2013 14,507 13,676 02/28/2013 14,614 13,708 03/31/2013 14,641 13,721 04/30/2013 14,708 13,766 05/31/2013 14,587 13,719 06/30/2013 14,413 13,676 07/31/2013 14,493 13,714 Past performance is not predictive of 08/31/2013 14,413 13,694 future performance. 09/30/2013 14,533 13,742 10/31/2013 14,627 13,787 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the Average Annual One Five Ten redemption of fund shares. Total Return Year Years Years ----------------------------------------------------------- Citigroup bond indices copyright 2013 0.63% 4.54% 3.88% by Citigroup. -------------------------------------------------------------------------------- 4 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- DFA VA GLOBAL MODERATE ALLOCATION PORTFOLIO VS. MSCI ALL COUNTRY WORLD INDEX (NET DIVIDENDS), CITIGROUP WORLD GOVERNMENT BOND INDEX, 1-3 YEARS, CURRENCY-HEDGED IN USD TERMS, 65% MSCI ACWI (NET DIVIDENDS)/35% CITIGROUP WORLD GOVT BOND INDEX 1-3 YR (HEDGED) INDEX April 8, 2013-October 31, 2013 [CHART] Citi World 65% MSCI ACWI Government Bond (net div0/35% Citi VA Global MSCI All Country Index,1-3 Years, World Govt Bond Moderate World Index Currency-Hedged Index 1-3 yr Portfolio (Net Div) in USD Terms (hedged)Index --------- ---------------- ---------------- ----------------- 04/08/2013 $10,000 $10,000 $10,000 $10,000 Past performance is not predictive of 04/30/2013 10,150 10,365 10,012 10,242 future performance. 05/31/2013 10,200 10,337 10,001 10,219 06/30/2013 10,020 10,035 9,990 10,021 The returns shown do not reflect the 07/31/2013 10,410 10,515 10,008 10,340 deduction of taxes that a shareholder 08/31/2013 10,210 10,296 10,004 10,198 would pay on fund distributions or the 09/30/2013 10,620 10,828 10,023 10,547 redemption of fund shares. 10/31/2013 10,910 11,263 10,042 10,830 Data includes composite data from multiple sources; see data descriptions From for additional details. MSCI data Total Return 04/08/2013 copyright MSCI 2013, all rights reserved. --------------------------------------------------- Citigroup bond indices copyright 2013 9.10% by Citigroup. -------------------------------------------------------------------------------- 5 DFA INVESTMENT DIMENSIONS GROUP INC. MANAGEMENT'S DISCUSSION AND ANALYSIS U.S. Equity Market Review 12 Months Ended October 31, 2013 The one-year period ended October 31, 2013, was characterized by strong gains in U.S. equities. The broad U.S. equity market, as measured by the Russell 3000(R) Index, had positive returns in 10 of the 12 months. The size premium was positive during the period with small cap stocks outperforming large cap stocks as measured by the Russell indices. Micro cap stocks were the strongest performers. Total Return for 12 Months Ended October 31, 2013 ------------------------------------------------- Russell 3000(R) Index........................ 28.99% Russell Microcap(R) Index (micro cap stocks). 38.72% Russell 2000(R) Index (small cap stocks)..... 36.28% Russell 1000(R) Index (large cap stocks)..... 28.40% Dow Jones U.S. Select REIT Index /SM/........ 9.96% The value premium was negative in small cap stocks while the performance of large cap value and large cap growth was almost identical as measured by the Russell indices. Total Return for 12 Months Ended October 31, 2013 ------------------------------------------------- Russell 2000(R) Value Index (small cap value stocks)... 32.83% Russell 2000(R) Growth Index (small cap growth stocks). 39.84% Russell 1000(R) Value Index (large cap value stocks)... 28.29% Russell 1000(R) Growth Index (large cap growth stocks). 28.30% ---------- Source: Russell data copyright (C) Russell Investment Group 1995-2013, all rights reserved. Dimensional Fund Advisors LP ("Dimensional" or the "Advisor") believes that among the most important factors explaining differences in the behavior of diversified equity portfolios are the market capitalization and value/ growth characteristics of the portfolios' holdings. Value characteristics are a function of stock price relative to one or more fundamental characteristics such as book value, earnings, or dividends. For many Dimensional U.S. equity portfolios, differences in returns over the 12 months ended October 31, 2013, were primarily attributable to differences in value/growth and size characteristics as well as the exclusion of REIT securities from most Dimensional portfolios and the exclusion of securities of highly regulated utilities from most value strategies. For many portfolios, the construction approach used by Dimensional generally resulted in portfolios with greater weight in value, small cap and/or micro cap companies relative to widely used benchmarks. VA U.S. Targeted Value Portfolio The VA U.S. Targeted Value Portfolio seeks to capture the returns of U.S. small- and mid-capitalization value stocks. Value is measured primarily by book-to-market ratio. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 1,300 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 42.19% for the Portfolio and 32.83% for the Russell 2000(R) Value Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the U.S. equity market, rather than the behavior of a limited number of stocks. The Portfolio's exclusion of real estate investment trusts ("REITs") and highly regulated utilities contributed to the Portfolio's outperformance relative to the Index as both sectors underperformed the overall Index during the period. 6 VA U.S. Large Value Portfolio The VA U.S. Large Value Portfolio seeks to capture the returns of U.S. large company value stocks. Value is measured primarily by book-to-market ratio. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 220 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 36.04% for the Portfolio and 28.29% for the Russell 1000(R) Value Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the U.S. equity market rather than the behavior of a limited number of stocks. The Portfolio had significantly greater exposure than the Index to deeper value stocks as measured by book-to-market. These stocks generally outperformed the Index, and the Portfolio's higher weight helped the Portfolio's relative performance. The Portfolio's exclusion of real estate investment trusts ("REITs") and highly regulated utilities contributed to the Portfolio's outperformance relative to the Index as both sectors underperformed the overall Index during the period. International Equity Market Review 12 Months Ended October 31, 2013 The one-year period ended October 31, 2013, was characterized by generally positive monthly returns in the international equity markets with the exception of a sharp decline from May to June and a smaller decline in August. As measured by the MSCI indices below for developed markets outside the U.S., small cap stocks generally outperformed large cap stocks while value stocks outperformed growth stocks. 12 Months Ended October 31, 2013 -------------------------------- U.S. Dollar Return - ------------------ MSCI World ex USA Index........... 24.65% MSCI World ex USA Small Cap Index. 27.81% MSCI World ex USA Value Index..... 26.12% MSCI World ex USA Growth Index.... 23.17% During the period, the U.S. dollar (USD) was mixed against developed markets currencies. While the U.S. dollar depreciated against the euro, Swiss franc, and several other European-based developed markets currencies, it appreciated against the sterling, Canadian dollar, Australian dollar and Japanese yen. 12 Months Ended October 31, 2013 -------------------------------- Ten Largest Foreign Developed Markets by Market Cap Local Currency Return U.S. Dollar Return --------------------------------------------------- --------------------- ------------------ United Kingdom.................... 20.70% 20.37% Japan............................. 64.48% 34.00% Canada............................ 10.59% 5.99% France............................ 27.55% 33.82% Australia......................... 26.44% 15.47% Switzerland....................... 27.49% 31.10% Germany........................... 24.72% 30.85% Spain............................. 30.69% 37.11% Sweden............................ 24.39% 27.55% Hong Kong......................... 14.30% 14.25% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2013, all rights reserved. 7 VA International Value Portfolio The VA International Value Portfolio seeks to capture the returns of international large company value stocks. Value is measured primarily by book-to-market ratio. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 470 securities in 22 eligible developed countries. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ending October 31, 2013, total returns were 26.10% for the Portfolio and 24.65% for the MSCI World ex USA Index (net dividends). The Portfolio focuses on value stocks, as measured by book-to-market, while the Index is neutral with regard to value or growth. As large cap value stocks generally outperformed large cap growth stocks during the period, the Portfolio's significantly greater exposure than the Index to these securities contributed to the Portfolio's outperformance relative to the Index. In particular, the Portfolio's greater exposure to value stocks in the financial sector was beneficial as these names generally outperformed. The Portfolio's exclusion of real estate investment trusts ("REITs") also benefited the Portfolio's relative performance as REITs underperformed during the period. Differences in the valuation timing and methodology between the Portfolio and the Index generally detracted from the Portfolio's relative performance. The Portfolio prices foreign exchange rates at the closing of the U.S. markets while the Index uses rates at 4 pm London time. The Portfolio also may use fair value pricing to price certain portfolio securities at the closing of the U.S. markets while the Index uses local market closing prices. VA International Small Portfolio The VA International Small Portfolio seeks to capture the returns of international small company stocks. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 2,600 securities in 22 eligible developed countries. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. For the 12 months ended October 31, 2013, total returns were 30.50% for the Portfolio and 27.81% for the MSCI World ex USA Small Cap Index (net dividends). As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in international equity markets rather than the behavior of a limited number of stocks. The Portfolio had a lesser allocation to Canadian securities, which contributed to the Portfolio's outperformance relative to the Index as Canada significantly underperformed. In addition, within the materials sector, the Portfolio's holdings in Canada and Australia significantly outperformed those of the Index. The Portfolio's exclusion of real estate investment trusts ("REITs") also contributed to the Portfolio's outperformance relative to the Index as REITs underperformed during the period. Fixed Income Market Review 12 Months Ended October 31, 2013 U.S. and developed international fixed income markets generally experienced rising interest rates for the year ended October 31, 2013. Throughout the year the U.S. Federal Reserve and other major central banks maintained historically low target short-term rates. This combination led to steepening yield curves in much of the developed world. On average, investment grade credit did well for the year, outperforming government bonds of similar duration. The one-month Treasury bill yield finished the fiscal year at 0.03%, while the yield on 10-year U.S. Treasury notes increased to 2.56%. October 31, 2012 October 31, 2013 Change ---------------- ---------------- ------ One-Month Treasury Bill (yield)...... 0.09% 0.03% -0.06% Ten-Year U.S. Treasury Notes (yield). 1.69% 2.56% 0.87% ---------- Source: Bloomberg. 8 There is generally an inverse relationship between interest rates and bond prices, such that bond prices fall when interest rates rise. For the fiscal year under review, changes in interest rates and bond prices were more pronounced in some parts of the yield curve than in others. For the 12 months ended October 31, 2013, total returns were 0.10 % for three-month U.S. Treasury bills, -0.74% for five-year U.S. Treasury notes, and -11.69% for 30-year U.S. Treasury bonds (Source: Barclays Treasury Bellwethers). Some of Dimensional Fund Advisors LP's ("Dimensional" or the "Advisor") fixed income strategies are based on a variable-maturity strategy that identifies a maturity range with favorable risk-adjusted expected returns. When the yield curve is flat or inverted, short-term securities are believed to offer the most attractive opportunity on a risk-adjusted basis. When the yield curve is upwardly sloped, maturities are lengthened to achieve higher expected returns associated with longer maturities. During the period under review, the portfolios employing the variable-maturity strategy continued to take term risk, reflecting the upward-sloping eligible yield curves. Some fixed income strategies are based on an approach that varies exposure to credit risk. When credit spreads are narrow, higher-quality securities are believed to offer the more attractive opportunity on a risk-adjusted basis. When credit spreads are wide, additional credit risk is taken to achieve the higher expected returns associated with increased risk. During the period under review, the portfolios employing the variable credit approach continued to take market-like credit risk, reflecting a wide credit spread environment. VA Short-Term Fixed Portfolio The VA Short-Term Fixed Portfolio seeks to achieve a stable real return in excess of the rate of inflation with a minimum of risk by investing in high-quality fixed income securities with a typical average maturity of one year or less. The investment strategy shifts maturities based on changes in the yield curve. The strategy uses current yields and identifies the maturity range for the highest risk-adjusted expected returns based on potential buy and sell strategies. Maturity targets are shifted based on the Advisor's expectations for the term premiums. The average maturity of the Portfolio increased to 353 days on October 31, 2013, from 330 days on October 31, 2012. For the 12 months ended October 31, 2013, the total return was 0.35% for the Portfolio, 0.20% for The BofA Merrill Lynch US 6-Month Treasury Bill Index, and 0.31% for The BofA Merrill Lynch 1-Year US Treasury Note Index. During the period, interest rates decreased slightly in the eligible maturity range. The yield curve remained upwardly sloped causing the Portfolio's maturity structure to remain extended. The Portfolio had significant exposure to U.S. government agency and corporate debt, particularly the financial sector of the corporate bond market. The credit premium on these securities was primarily responsible for the Portfolio's relative outperformance over the Index. VA Global Bond Portfolio The VA Global Bond Portfolio seeks to provide a market rate of return by investing in U.S. and foreign government securities and high-quality corporate and currency-hedged global fixed income instruments with an average maturity of five years or less. The Portfolio hedges substantially all of the currency risk of its non-U.S. dollar-denominated securities. Eligible countries for the Portfolio to invest in include but are not limited to Australia, Canada, Denmark, certain EMU countries, Japan, New Zealand, Norway, Singapore, Sweden, Switzerland, the United Kingdom, and the United States. The investment strategy shifts maturities and country allocations based on changes in the eligible yield curves. The strategy uses current yields and identifies the maturity range for the highest risk-adjusted expected returns based on potential buy and sell strategies for each eligible country. Maturity targets and country allocations are shifted based on the Advisor's expectations for term premiums. The average maturity of the Portfolio increased to 4.08 years on October 31, 2013, from 3.94 years on October 31, 2012. For the 12 months ended October 31, 2013, total returns were 0.63% for the Portfolio and 1.07% for the Citigroup World Government Bond Index, 1-5 Years, Currency-Hedged in USD Terms. The Portfolio had an average allocation during the period of approximately 66% of assets in U.S. Dollar denominated securities and the majority of the remainder invested in currency-hedged Sterling denominated securities (approximately 10%) and currency-hedged Euro denominated securities (approximately 21%). The Portfolio's lack of exposure to Italian and Spanish government bonds contributed to the Portfolio's underperformance as compared to the Index, as these two sovereign debt markets exhibited very strong returns. The Portfolio benefitted from its lack of exposure to Japanese Yen denominated bonds, which represented almost 30% of the benchmark. Japan's relatively flat yield 9 curve offered very little expected risk premium relative to the U.S., U.K., and Eurozone curves. The Portfolio had an average duration of 3.90 years on October 31, 2013, compared to 2.67 years for the Index, which detracted from the Portfolio's relative performance as interest rates rose during the period. The time of valuation of currency can also create differences between the performance of the Portfolio and the Index. DFA VA Global Moderate Allocation Portfolio The DFA VA Global Moderate Allocation Portfolio seeks capital appreciation and current income by investing in a combination of mutual funds managed by Dimensional that invest in equity and fixed income securities. Under normal market circumstances, the portfolio seeks to achieve its investment objective through a moderate allocation to both global equity and global fixed income securities by allocating approximately 50% to 70% of its assets to domestic and international equity underlying funds and 30% to 50% of its assets to fixed income underlying funds. As of the date of this report, the Portfolio's investment in domestic equity funds include the U.S. Core Equity 1 Portfolio, the U.S. Core Equity 2 Portfolio, and the DFA Real Estate Securities Portfolio; the Portfolio's investment in international equity funds include the International Core Equity Portfolio, Emerging Markets Core Equity Portfolio, and VA International Value Portfolio (collectively, the "Equity Underlying Funds"); and the Portfolio's investment in fixed income funds include the DFA Two-Year Global Fixed Income Portfolio, DFA Selectively Hedged Global Fixed Income Portfolio, VA Global Bond Portfolio, and VA Short-Term Fixed Portfolio (collectively with the Equity Underlying Funds, the "Equity and Fixed Income Underlying Funds"). The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Equity and Fixed Income Underlying Funds held approximately 12,000 equity securities in 44 countries and approximately 400 fixed income securities in 18 countries, excluding supranationals. From the Portfolio's inception on April 8, 2013, through October 31, 2013, total returns were 9.10% for the Portfolio and 8.30% for a hypothetical composite index composed of 65% MSCI All Country World Index (net dividends) and 35% Citigroup World Government Bond Index, 1-3 Years, Currency-Hedged in USD Terms. As a result of the Equity and Fixed Income Underlying Funds' diversified investment approach, performance was determined principally by broad structural trends in global equity and fixed income markets rather than the behavior of a limited group of securities in a particular industry, country, or asset class. The Portfolio's relative outperformance was driven by its equity component, which outperformed the Index's equity component. This was partly offset by the Portfolio's fixed income component, which underperformed the Index's fixed income component. The Portfolio's equity component invests in stocks across all size categories while the Index primarily holds large cap and mid-cap stocks. The Portfolio had greater exposure than the Index to value stocks, as measured by book-to-market ratio, and greater exposure to U.S. stocks. This emphasis on small cap and value, particularly in the U.S., was primarily responsible for outperformance of the equity component relative to the equity component of the Index as small cap stocks and value stocks generally outperformed large cap stock and growth stocks, respectively, during the period. The Portfolio had less exposure than the Index to emerging markets, which benefited the Portfolio's relative performance as emerging markets generally underperformed during the period. The underperformance of the Portfolio's fixed income component, relative to the fixed income component of the Index, was primarily due to the longer duration of the Portfolio's fixed income component during a period of rising nominal and real interest rates. This was partly offset by the Portfolio's exposure to corporate bonds, which outperformed and are not represented in the fixed income benchmark, positively contributing to the Portfolio's relative performance. 10 DFA INVESTMENT DIMENSIONS GROUP INC. DISCLOSURE OF FUND EXPENSES (Unaudited) The following Expense Tables are shown so that you can understand the impact of fees on your investment. All mutual funds have operating expenses. As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports, among others. Operating expenses, legal and audit services, which are deducted from a fund's gross income, directly reduce the investment return of the fund. A fund's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs, in dollars, of investing in the fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period. The Expense Tables below illustrate your fund's costs in two ways. Actual Fund Return This section helps you to estimate the actual expenses after fee waivers that you paid over the period. The "Ending Account Value" shown is derived from the fund's actual return and "Expenses Paid During Period" reflect the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. To do so, simply divide your account value by $1,000 (for example, a $7,500 account value divided by $1,000 = 7.5), then multiply the result by the number given for your fund under the heading "Expenses Paid During Period." Hypothetical Example for Comparison Purposes This section is intended to help you compare your fund's costs with those of other mutual funds. The hypothetical "Ending Account Value" and "Expenses Paid During Period" are derived from the fund's actual expense ratio and an assumed 5% annual return before expenses. In this case, because the return used is not the fund's actual return, the results do not apply to your investment. The example is useful in making comparisons because the SEC requires all mutual funds to calculate expenses based on a 5% annual return. You can assess your fund's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. Please note that the expenses shown in the tables are meant to highlight and help you compare ongoing costs only and do not reflect any transactional costs, if applicable. The "Annualized Expense Ratio" represents the actual expenses for the six-month period indicated. Six Months Ended October 31, 2013 EXPENSE TABLES Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/13 10/31/13 Ratio* Period* --------- --------- ---------- -------- VA U.S. Targeted Value Portfolio -------------------------------- Actual Fund Return............... $1,000.00 $1,190.40 0.38% $2.10 Hypothetical 5% Annual Return.... $1,000.00 $1,023.29 0.38% $1.94 11 DISCLOSURE OF FUND EXPENSES CONTINUED Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/13 10/31/13 Ratio* Period* --------- --------- ---------- -------- VA U.S. Large Value Portfolio ----------------------------- Actual Fund Return............................ $1,000.00 $1,147.90 0.27% $1.46 Hypothetical 5% Annual Return................. $1,000.00 $1,023.84 0.27% $1.38 VA International Value Portfolio -------------------------------- Actual Fund Return............................ $1,000.00 $1,118.40 0.46% $2.46 Hypothetical 5% Annual Return................. $1,000.00 $1,022.89 0.46% $2.35 VA International Small Portfolio -------------------------------- Actual Fund Return............................ $1,000.00 $1,131.70 0.67% $3.60 Hypothetical 5% Annual Return................. $1,000.00 $1,021.83 0.67% $3.41 VA Short-Term Fixed Portfolio ----------------------------- Actual Fund Return............................ $1,000.00 $1,001.00 0.28% $1.41 Hypothetical 5% Annual Return................. $1,000.00 $1,023.79 0.28% $1.43 VA Global Bond Portfolio ------------------------ Actual Fund Return............................ $1,000.00 $ 994.50 0.26% $1.31 Hypothetical 5% Annual Return................. $1,000.00 $1,023.89 0.26% $1.33 DFA VA Global Moderate Allocation Portfolio** --------------------------------------------- Actual Fund Return............................ $1,000.00 $1,074.90 0.40% $2.09 Hypothetical 5% Annual Return................. $1,000.00 $1,023.19 0.40% $2.04 ---------- * Expenses are equal to the fund's annualized expense ratio for the six-month period, multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period (184), then divided by the number of days in the year (365) to reflect the six-month period. **DFA VA Global Moderate Allocation Portfolio is a Fund of Funds. The expenses shown reflect the direct expenses of the Fund of Funds and the indirect payment of the Fund of Funds' portion of the expenses of its Master Funds (Affiliated Investment Companies). 12 DFA INVESTMENT DIMENSIONS GROUP INC. DISCLOSURE OF PORTFOLIO HOLDINGS (Unaudited) The SEC requires that all funds file a complete Schedule of Investments with the SEC for their first and third fiscal quarters on Form N-Q. For DFA Investment Dimensions Group Inc., this would be for the fiscal quarters ending January 31 and July 31. The Form N-Q filing must be made within 60 days of the end of the quarter. DFA Investment Dimensions Group Inc. filed its most recent Form N-Q with the SEC on September 27, 2013. It is available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room). SEC regulations permit a fund to include in its reports to shareholders a "Summary Schedule of Portfolio Holdings" in lieu of a full Schedule of Investments. The Summary Schedule of Portfolio Holdings reports the fund's 50 largest holdings in unaffiliated issuers and any investments that exceed one percent of the fund's net assets at the end of the reporting period. The amendments also require that the Summary Schedule of Portfolio Holdings identify each category of investments that is held. A fund is required to file a complete Schedule of Investments with the SEC on Form N-CSR within ten days after mailing the annual and semi-annual reports to shareholders. It will be available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room). PORTFOLIO HOLDINGS The SEC requires that all funds present their categories of portfolio holdings in a table, chart or graph format in their annual and semi-annual shareholder reports, whether or not a Schedule of Investments is utilized. The following table, which presents portfolio holdings as a percent of total investments before short-term investments and collateral for loaned securities, is provided in compliance with such requirement. The categories shown below represent broad industry sectors. Each industry sector consists of one or more specific industry classifications. FUND OF FUNDS Affiliated Investment Companies ------------------------------- DFA VA Global Moderate Allocation Portfolio. 100.0% DOMESTIC AND INTERNATIONAL EQUITY PORTFOLIOS VA U.S. Targeted Value Portfolio Consumer Discretionary....................... 14.0% Consumer Staples............................. 3.7% Energy....................................... 10.3% Financials................................... 24.5% Health Care.................................. 5.8% Industrials.................................. 17.6% Information Technology....................... 15.3% Materials.................................... 6.7% Other........................................ -- Real Estate Investment Trusts................ 0.2% Telecommunication Services................... 1.3% Utilities.................................... 0.6% ----- 100.0% VA U.S. Large Value Portfolio Consumer Discretionary....................... 12.9% Consumer Staples............................. 7.4% Energy....................................... 21.6% Financials................................... 25.8% Health Care.................................. 7.1% Industrials.................................. 10.0% Information Technology....................... 7.1% Materials.................................... 3.2% Telecommunication Services................... 4.5% Utilities.................................... 0.4% ----- 100.0% VA International Value Portfolio Consumer Discretionary....................... 8.4% Consumer Staples............................. 4.5% Energy....................................... 13.9% Financials................................... 35.6% Health Care.................................. 1.7% Industrials.................................. 10.5% Information Technology....................... 3.7% Materials.................................... 11.3% Other........................................ -- Telecommunication Services................... 7.0% Utilities.................................... 3.4% ----- 100.0% 13 DISCLOSURE OF PORTFOLIO HOLDINGS CONTINUED VA International Small Portfolio Consumer Discretionary....................... 19.6% Consumer Staples............................. 6.0% Energy....................................... 5.4% Financials................................... 14.0% Health Care.................................. 5.9% Industrials.................................. 25.5% Information Technology....................... 9.2% Materials.................................... 10.5% Other........................................ -- Telecommunication Services................... 1.6% Utilities.................................... 2.3% ----- 100.0% FIXED INCOME PORTFOLIOS VA Short-Term Fixed Portfolio Corporate.................................... 13.5% Government................................... 21.9% Foreign Corporate............................ 26.3% Foreign Government........................... 31.4% Supranational................................ 6.9% ----- 100.0% VA Global Bond Portfolio Corporate.................................... 20.6% Government................................... 4.0% Foreign Corporate............................ 22.2% Foreign Government........................... 46.9% Supranational................................ 6.3% ----- 100.0% 14 VA U.S. TARGETED VALUE PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2013 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (66.4%) Consumer Discretionary -- (9.3%) # DeVry, Inc.......................... 14,803 $ 531,428 0.3% Dillard's, Inc. Class A............. 7,314 599,602 0.4% # GameStop Corp. Class A.............. 13,945 764,465 0.5% #* Jarden Corp......................... 14,019 776,092 0.5% # Washington Post Co. (The) Class B... 910 585,421 0.4% # Wendy's Co. (The)................... 87,792 762,912 0.5% Other Securities.................... 18,361,092 11.3% ----------- ----- Total Consumer Discretionary............ 22,381,012 13.9% ----------- ----- Consumer Staples -- (2.4%) # Seaboard Corp....................... 196 535,080 0.3% Other Securities.................... 5,331,955 3.3% ----------- ----- Total Consumer Staples.................. 5,867,035 3.6% ----------- ----- Energy -- (6.9%) Cimarex Energy Co................... 9,221 971,432 0.6% # Nabors Industries, Ltd.............. 43,157 754,384 0.5% * Rowan Cos. P.L.C. Class A........... 18,242 658,171 0.4% * Superior Energy Services, Inc....... 21,870 586,772 0.4% * Whiting Petroleum Corp.............. 17,263 1,154,722 0.7% Other Securities.................... 12,399,667 7.6% ----------- ----- Total Energy............................ 16,525,148 10.2% ----------- ----- Financials -- (16.2%) American Financial Group, Inc....... 13,215 743,476 0.5% # Assurant, Inc....................... 11,316 661,760 0.4% Axis Capital Holdings, Ltd.......... 12,669 600,764 0.4% #* E*TRADE Financial Corp.............. 42,087 711,691 0.5% # Endurance Specialty Holdings, Ltd... 9,916 548,256 0.4% # First Niagara Financial Group, Inc.. 51,915 572,622 0.4% #* Genworth Financial, Inc. Class A.... 66,323 963,673 0.6% # Hanover Insurance Group, Inc. (The). 10,024 586,805 0.4% # Legg Mason, Inc..................... 18,412 708,310 0.4% # NASDAQ OMX Group, Inc. (The)........ 24,288 860,524 0.5% Old Republic International Corp..... 37,481 629,306 0.4% PartnerRe, Ltd...................... 8,404 842,165 0.5% # Reinsurance Group of America, Inc... 10,860 773,015 0.5% # Zions BanCorp....................... 22,216 630,268 0.4% Other Securities.................... 29,342,719 18.0% ----------- ----- Total Financials........................ 39,175,354 24.3% ----------- ----- Health Care -- (3.9%) * Alere, Inc.......................... 19,422 655,104 0.4% Community Health Systems, Inc....... 13,817 602,836 0.4% * LifePoint Hospitals, Inc............ 10,900 562,876 0.4% # Omnicare, Inc....................... 15,345 846,277 0.5% Other Securities.................... 6,700,825 4.1% ----------- ----- Total Health Care....................... 9,367,918 5.8% ----------- ----- Industrials -- (11.7%) AGCO Corp........................... 12,771 745,571 0.5% AMERCO.............................. 5,363 1,082,951 0.7% 15 VA U.S. TARGETED VALUE PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Industrials -- (Continued) #* Avis Budget Group, Inc............................. 21,045 $ 659,340 0.4% Curtiss-Wright Corp................................ 10,861 540,661 0.3% # EnerSys, Inc....................................... 9,960 660,846 0.4% * Esterline Technologies Corp........................ 7,459 597,913 0.4% # GATX Corp.......................................... 10,799 556,688 0.4% #* Owens Corning...................................... 17,148 616,128 0.4% Ryder System, Inc.................................. 9,234 607,874 0.4% # Trinity Industries, Inc............................ 10,389 525,995 0.3% URS Corp........................................... 11,000 596,420 0.4% Other Securities................................... 20,985,952 12.9% ------------ ------ Total Industrials........................................ 28,176,339 17.5% ------------ ------ Information Technology -- (10.2%) * Arrow Electronics, Inc............................. 15,959 766,351 0.5% # Avnet, Inc......................................... 19,346 768,036 0.5% #* First Solar, Inc................................... 13,314 669,295 0.4% * Ingram Micro, Inc. Class A......................... 24,100 558,397 0.4% Marvell Technology Group, Ltd...................... 70,113 841,356 0.5% * Tech Data Corp..................................... 10,139 527,836 0.3% Other Securities................................... 20,396,674 12.6% ------------ ------ Total Information Technology............................. 24,527,945 15.2% ------------ ------ Materials -- (4.5%) Reliance Steel & Aluminum Co....................... 11,110 814,252 0.5% Steel Dynamics, Inc................................ 31,853 572,398 0.4% Other Securities................................... 9,357,021 5.8% ------------ ------ Total Materials.......................................... 10,743,671 6.7% ------------ ------ Other -- (0.0%) Other Securities................................... 102 0.0% ------------ ------ Real Estate Investment Trusts -- (0.1%) Other Securities................................... 297,447 0.2% ------------ ------ Telecommunication Services -- (0.8%) Other Securities................................... 2,014,727 1.2% ------------ ------ Utilities -- (0.4%) # UGI Corp........................................... 14,418 596,473 0.4% Other Securities................................... 404,616 0.2% ------------ ------ Total Utilities.......................................... 1,001,089 0.6% ------------ ------ TOTAL COMMON STOCKS...................................... 160,077,787 99.2% ------------ ------ RIGHTS/WARRANTS -- (0.0%) Other Securities................................... 18,708 0.0% ------------ ------ TEMPORARY CASH INVESTMENTS -- (0.8%) State Street Institutional Liquid Reserves, 0.073%. 1,896,304 1,896,304 1.2% ------------ ------ Shares/ Face Amount ------- - - (000) SECURITIES LENDING COLLATERAL -- (32.8%) (S)@ DFA Short Term Investment Fund..................... 6,840,497 79,144,551 49.1% ------------ ------ TOTAL INVESTMENTS -- (100.0%) (Cost $201,606,811).................................. $241,137,350 149.5% ============ ====== 16 VA U.S. TARGETED VALUE PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): Investments in Securities (Market Value) --------------------------------------------- Level 1 Level 2 Level 3 Total ------------ ----------- ------- ------------ Common Stocks Consumer Discretionary........ $ 22,381,012 -- -- $ 22,381,012 Consumer Staples.............. 5,867,035 -- -- 5,867,035 Energy........................ 16,525,148 -- -- 16,525,148 Financials.................... 39,173,990 $ 1,364 -- 39,175,354 Health Care................... 9,360,256 7,662 -- 9,367,918 Industrials................... 28,163,739 12,600 -- 28,176,339 Information Technology........ 24,527,945 -- -- 24,527,945 Materials..................... 10,743,671 -- -- 10,743,671 Other......................... -- 102 -- 102 Real Estate Investment Trusts. 297,447 -- -- 297,447 Telecommunication Services.... 2,014,727 -- -- 2,014,727 Utilities..................... 1,001,089 -- -- 1,001,089 Rights/Warrants................. -- 18,708 -- 18,708 Temporary Cash Investments...... 1,896,304 -- -- 1,896,304 Securities Lending Collateral... -- 79,144,551 -- 79,144,551 ------------ ----------- -- ------------ TOTAL........................... $161,952,363 $79,184,987 -- $241,137,350 ============ =========== == ============ See accompanying Notes to Financial Statements. 17 VA U.S. LARGE VALUE PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2013 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (90.8%) Consumer Discretionary -- (11.7%) Comcast Corp. Class A................ 136,994 $ 6,518,174 3.3% Comcast Corp. Special Class A........ 35,244 1,631,797 0.8% * General Motors Co.................... 52,354 1,934,480 1.0% Time Warner Cable, Inc............... 25,682 3,085,692 1.5% Time Warner, Inc..................... 69,079 4,748,490 2.4% Other Securities..................... 7,752,794 3.8% ----------- ----- Total Consumer Discretionary............. 25,671,427 12.8% ----------- ----- Consumer Staples -- (6.7%) Archer-Daniels-Midland Co............ 45,882 1,876,574 0.9% CVS Caremark Corp.................... 96,816 6,027,764 3.0% Mondelez International, Inc. Class A. 123,236 4,145,659 2.1% Other Securities..................... 2,749,102 1.4% ----------- ----- Total Consumer Staples................... 14,799,099 7.4% ----------- ----- Energy -- (19.6%) Anadarko Petroleum Corp.............. 34,465 3,284,170 1.6% Apache Corp.......................... 22,516 1,999,421 1.0% Baker Hughes, Inc.................... 23,614 1,371,737 0.7% # Chesapeake Energy Corp............... 45,371 1,268,573 0.6% Chevron Corp......................... 58,952 7,071,882 3.5% ConocoPhillips....................... 94,395 6,919,153 3.5% Devon Energy Corp.................... 21,332 1,348,609 0.7% Hess Corp............................ 23,837 1,935,564 1.0% Marathon Oil Corp.................... 50,334 1,774,777 0.9% Marathon Petroleum Corp.............. 23,581 1,689,814 0.9% National Oilwell Varco, Inc.......... 26,968 2,189,262 1.1% Occidental Petroleum Corp............ 20,969 2,014,702 1.0% Phillips 66.......................... 41,103 2,648,266 1.3% Valero Energy Corp................... 39,957 1,645,030 0.8% Other Securities..................... 5,927,798 2.9% ----------- ----- Total Energy............................. 43,088,758 21.5% ----------- ----- Financials -- (23.5%) American International Group, Inc.... 110,812 5,723,440 2.9% Bank of America Corp................. 565,423 7,893,305 3.9% Bank of New York Mellon Corp. (The).. 48,662 1,547,452 0.8% Capital One Financial Corp........... 26,178 1,797,643 0.9% Citigroup, Inc....................... 157,700 7,692,606 3.8% # CME Group, Inc....................... 23,396 1,736,217 0.9% JPMorgan Chase & Co.................. 78,114 4,025,995 2.0% # Loews Corp........................... 27,718 1,339,056 0.7% MetLife, Inc......................... 70,091 3,316,005 1.7% Morgan Stanley....................... 109,433 3,144,010 1.6% # Prudential Financial, Inc............ 32,452 2,641,268 1.3% SunTrust Banks, Inc.................. 38,070 1,280,675 0.6% Other Securities..................... 9,408,385 4.7% ----------- ----- Total Financials......................... 51,546,057 25.8% ----------- ----- Health Care -- (6.5%) Aetna, Inc........................... 28,210 1,768,767 0.9% * Express Scripts Holding Co........... 30,783 1,924,553 1.0% 18 VA U.S. LARGE VALUE PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Health Care -- (Continued) Thermo Fisher Scientific, Inc...................... 28,321 $ 2,769,227 1.4% WellPoint, Inc..................................... 25,035 2,122,968 1.0% Other Securities................................... 5,617,317 2.8% ------------ ------ Total Health Care........................................ 14,202,832 7.1% ------------ ------ Industrials -- (9.1%) CSX Corp........................................... 78,162 2,036,902 1.0% Eaton Corp. P.L.C.................................. 26,832 1,893,266 0.9% FedEx Corp......................................... 10,397 1,362,007 0.7% General Electric Co................................ 128,841 3,367,904 1.7% Norfolk Southern Corp.............................. 23,334 2,007,191 1.0% # Northrop Grumman Corp.............................. 14,791 1,590,180 0.8% Other Securities................................... 7,789,210 3.9% ------------ ------ Total Industrials........................................ 20,046,660 10.0% ------------ ------ Information Technology -- (6.4%) Corning, Inc....................................... 76,095 1,300,464 0.6% Hewlett-Packard Co................................. 127,887 3,116,606 1.5% * Yahoo!, Inc........................................ 69,156 2,277,307 1.1% Other Securities................................... 7,397,841 3.8% ------------ ------ Total Information Technology............................. 14,092,218 7.0% ------------ ------ Materials -- (2.9%) Freeport-McMoRan Copper & Gold, Inc................ 43,878 1,612,955 0.8% Other Securities................................... 4,756,318 2.4% ------------ ------ Total Materials.......................................... 6,369,273 3.2% ------------ ------ Telecommunication Services -- (4.1%) AT&T, Inc.......................................... 197,065 7,133,753 3.6% # CenturyLink, Inc................................... 38,023 1,287,459 0.6% Other Securities................................... 587,221 0.3% ------------ ------ Total Telecommunication Services......................... 9,008,433 4.5% ------------ ------ Utilities -- (0.3%) Other Securities................................... 723,861 0.4% ------------ ------ TOTAL COMMON STOCKS...................................... 199,548,618 99.7% ------------ ------ TEMPORARY CASH INVESTMENTS -- (0.8%) State Street Institutional Liquid Reserves, 0.073%. 1,791,090 1,791,090 0.9% ------------ ------ Shares/ Face Amount ------- - - (000) SECURITIES LENDING COLLATERAL -- (8.4%) (S)@ DFA Short Term Investment Fund..................... 1,602,779 18,544,148 9.3% ------------ ------ TOTAL INVESTMENTS -- (100.0%) (Cost $167,292,266)..................................... $219,883,856 109.9% ============ ====== 19 VA U.S. LARGE VALUE PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): Investments in Securities (Market Value) --------------------------------------------- Level 1 Level 2 Level 3 Total ------------ ----------- ------- ------------ Common Stocks Consumer Discretionary...... $ 25,671,427 -- -- $ 25,671,427 Consumer Staples............ 14,799,099 -- -- 14,799,099 Energy...................... 43,088,758 -- -- 43,088,758 Financials.................. 51,546,057 -- -- 51,546,057 Health Care................. 14,202,832 -- -- 14,202,832 Industrials................. 20,046,660 -- -- 20,046,660 Information Technology...... 14,092,218 -- -- 14,092,218 Materials................... 6,369,273 -- -- 6,369,273 Telecommunication Services.. 9,008,433 -- -- 9,008,433 Utilities................... 723,861 -- -- 723,861 Temporary Cash Investments.... 1,791,090 -- -- 1,791,090 Securities Lending Collateral. -- $18,544,148 -- 18,544,148 ------------ ----------- -- ------------ TOTAL......................... $201,339,708 $18,544,148 -- $219,883,856 ============ =========== == ============ See accompanying Notes to Financial Statements. 20 VA INTERNATIONAL VALUE PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2013 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (93.7%) AUSTRALIA -- (5.1%) Wesfarmers, Ltd................... 47,233 $ 1,916,665 1.4% Other Securities.................. 5,533,751 4.0% ----------- ----- TOTAL AUSTRALIA....................... 7,450,416 5.4% ----------- ----- AUSTRIA -- (0.2%) Other Securities.................. 337,371 0.2% ----------- ----- BELGIUM -- (1.3%) Other Securities.................. 1,894,152 1.4% ----------- ----- CANADA -- (8.7%) Canadian Natural Resources, Ltd... 36,966 1,173,670 0.9% Goldcorp, Inc..................... 27,477 698,740 0.5% # Magna International, Inc.......... 8,230 697,062 0.5% Manulife Financial Corp........... 41,820 740,819 0.5% Suncor Energy, Inc................ 51,054 1,855,307 1.4% Other Securities.................. 7,724,214 5.6% ----------- ----- TOTAL CANADA.......................... 12,889,812 9.4% ----------- ----- DENMARK -- (1.6%) Other Securities.................. 2,365,133 1.7% ----------- ----- FINLAND -- (1.0%) Other Securities.................. 1,522,426 1.1% ----------- ----- FRANCE -- (9.9%) AXA SA............................ 53,665 1,337,087 1.0% BNP Paribas SA.................... 34,574 2,550,632 1.8% Cie de St-Gobain.................. 16,902 887,187 0.6% GDF Suez.......................... 56,467 1,399,465 1.0% Orange............................ 68,037 935,242 0.7% Renault SA........................ 8,835 770,856 0.6% Societe Generale SA............... 23,957 1,353,319 1.0% Vivendi SA........................ 53,030 1,342,717 1.0% Other Securities.................. 3,947,430 2.8% ----------- ----- TOTAL FRANCE.......................... 14,523,935 10.5% ----------- ----- GERMANY -- (8.4%) Allianz SE........................ 7,402 1,242,813 0.9% # Allianz SE ADR.................... 42,793 720,206 0.5% Bayerische Motoren Werke AG....... 7,338 830,503 0.6% Daimler AG........................ 32,525 2,662,977 1.9% Deutsche Bank AG.................. 33,137 1,601,481 1.2% Deutsche Telekom AG Sponsored ADR. 73,200 1,155,828 0.8% E.ON SE........................... 59,606 1,086,527 0.8% Muenchener Rueckversicherungs AG.. 5,893 1,229,470 0.9% Other Securities.................. 1,835,188 1.4% ----------- ----- TOTAL GERMANY......................... 12,364,993 9.0% ----------- ----- GREECE -- (0.0%) Other Securities.................. 36,505 0.0% ----------- ----- 21 VA INTERNATIONAL VALUE PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- HONG KONG -- (2.2%) Hutchison Whampoa, Ltd............... 78,000 $ 971,429 0.7% Other Securities..................... 2,258,094 1.6% ----------- ----- TOTAL HONG KONG.......................... 3,229,523 2.3% ----------- ----- IRELAND -- (0.2%) Other Securities..................... 263,425 0.2% ----------- ----- ISRAEL -- (0.4%) Other Securities..................... 652,899 0.5% ----------- ----- ITALY -- (1.3%) UniCredit SpA........................ 132,894 997,580 0.7% Other Securities..................... 885,574 0.7% ----------- ----- TOTAL ITALY.............................. 1,883,154 1.4% ----------- ----- JAPAN -- (19.5%) ITOCHU Corp.......................... 62,400 750,306 0.5% Mitsubishi Corp...................... 61,300 1,240,164 0.9% Mitsubishi UFJ Financial Group, Inc.. 459,000 2,923,033 2.1% Mitsui & Co., Ltd.................... 72,300 1,032,872 0.8% Nippon Steel & Sumitomo Metal Corp... 322,185 1,063,388 0.8% NTT DOCOMO, Inc...................... 65,500 1,039,159 0.8% Other Securities..................... 20,639,264 14.9% ----------- ----- TOTAL JAPAN.............................. 28,688,186 20.8% ----------- ----- NETHERLANDS -- (3.4%) * ING Groep NV......................... 109,394 1,390,147 1.0% Koninklijke Philips NV............... 21,366 755,089 0.6% Other Securities..................... 2,858,334 2.0% ----------- ----- TOTAL NETHERLANDS........................ 5,003,570 3.6% ----------- ----- NEW ZEALAND -- (0.1%) Other Securities..................... 112,046 0.1% ----------- ----- NORWAY -- (0.7%) Other Securities..................... 1,101,906 0.8% ----------- ----- PORTUGAL -- (0.1%) Other Securities..................... 174,316 0.1% ----------- ----- SINGAPORE -- (1.0%) Other Securities..................... 1,537,838 1.1% ----------- ----- SPAIN -- (2.2%) Banco Santander SA................... 152,389 1,350,972 1.0% # Iberdrola SA......................... 137,260 861,560 0.6% Other Securities..................... 1,030,675 0.8% ----------- ----- TOTAL SPAIN.............................. 3,243,207 2.4% ----------- ----- SWEDEN -- (2.5%) Nordea Bank AB....................... 85,572 1,094,595 0.8% Other Securities..................... 2,549,470 1.8% ----------- ----- TOTAL SWEDEN............................. 3,644,065 2.6% ----------- ----- 22 VA INTERNATIONAL VALUE PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- SWITZERLAND -- (6.5%) Credit Suisse Group AG........................................... 51,115 $ 1,590,083 1.2% Holcim, Ltd...................................................... 9,610 714,786 0.5% Novartis AG ADR.................................................. 10,786 836,454 0.6% Swiss Re AG...................................................... 13,340 1,171,020 0.8% UBS AG........................................................... 98,846 1,911,787 1.4% Zurich Insurance Group AG........................................ 4,528 1,251,192 0.9% Other Securities................................................. 2,069,688 1.5% ------------ ------ TOTAL SWITZERLAND...................................................... 9,545,010 6.9% ------------ ------ UNITED KINGDOM -- (17.4%) Barclays P.L.C. Sponsored ADR.................................... 119,177 2,003,365 1.5% BP P.L.C. Sponsored ADR.......................................... 125,591 5,839,982 4.2% Glencore Xstrata P.L.C........................................... 170,364 927,157 0.7% HSBC Holdings P.L.C. Sponsored ADR............................... 64,940 3,574,298 2.6% #* Lloyds Banking Group P.L.C. ADR.................................. 194,838 980,035 0.7% Royal Dutch Shell P.L.C. ADR(780259107).......................... 38,739 2,693,135 2.0% Royal Dutch Shell P.L.C. ADR(780259206).......................... 23,588 1,572,376 1.1% Vodafone Group P.L.C............................................. 672,985 2,464,981 1.8% Vodafone Group P.L.C. Sponsored ADR.............................. 46,031 1,694,861 1.2% Other Securities................................................. 3,837,419 2.8% ------------ ------ TOTAL UNITED KINGDOM................................................... 25,587,609 18.6% ------------ ------ TOTAL COMMON STOCKS.................................................... 138,051,497 100.1% ------------ ------ PREFERRED STOCKS -- (0.0%) GERMANY -- (0.0%) Other Securities................................................. 37,164 0.0% ------------ ------ RIGHTS/WARRANTS -- (0.0%) HONG KONG -- (0.0%) Other Securities................................................. -- 0.0% ------------ ------ SPAIN -- (0.0%) Other Securities................................................. 32,898 0.0% ------------ ------ TOTAL RIGHTS/WARRANTS.................................................. 32,898 0.0% ------------ ------ Shares/ Face Amount Value+ ------- ------ - (000) SECURITIES LENDING COLLATERAL -- (6.3%) (S)@ DFA Short Term Investment Fund................................... 777,874 9,000,000 6.5% @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $220,929 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $199,790) to be repurchased at $195,874............... $196 195,873 0.2% ------------ ------ TOTAL SECURITIES LENDING COLLATERAL.................................... 9,195,873 6.7% ------------ ------ TOTAL INVESTMENTS -- (100.0%) (Cost $137,925,965)................................................ $147,317,432 106.8% ============ ====== 23 VA INTERNATIONAL VALUE PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): Investments in Securities (Market Value) --------------------------------------------- Level 1 Level 2 Level 3 Total ----------- ------------ ------- ------------ Common Stocks Australia................... -- $ 7,450,416 -- $ 7,450,416 Austria..................... -- 337,371 -- 337,371 Belgium..................... -- 1,894,152 -- 1,894,152 Canada...................... $12,889,812 -- -- 12,889,812 Denmark..................... -- 2,365,133 -- 2,365,133 Finland..................... -- 1,522,426 -- 1,522,426 France...................... 80,666 14,443,269 -- 14,523,935 Germany..................... 1,876,034 10,488,959 -- 12,364,993 Greece...................... -- 36,505 -- 36,505 Hong Kong................... -- 3,229,523 -- 3,229,523 Ireland..................... 202,009 61,416 -- 263,425 Israel...................... -- 652,899 -- 652,899 Italy....................... 242,048 1,641,106 -- 1,883,154 Japan....................... 501,975 28,186,211 -- 28,688,186 Netherlands................. 324,666 4,678,904 -- 5,003,570 New Zealand................. -- 112,046 -- 112,046 Norway...................... -- 1,101,906 -- 1,101,906 Portugal.................... -- 174,316 -- 174,316 Singapore................... -- 1,537,838 -- 1,537,838 Spain....................... -- 3,243,207 -- 3,243,207 Sweden...................... 369,448 3,274,617 -- 3,644,065 Switzerland................. 1,122,808 8,422,202 -- 9,545,010 United Kingdom.............. 18,705,743 6,881,866 -- 25,587,609 Preferred Stocks Germany..................... -- 37,164 -- 37,164 Rights/Warrants Hong Kong................... -- -- -- -- Spain....................... -- 32,898 -- 32,898 Securities Lending Collateral. -- 9,195,873 -- 9,195,873 ----------- ------------ -- ------------ TOTAL......................... $36,315,209 $111,002,223 -- $147,317,432 =========== ============ == ============ See accompanying Notes to Financial Statements. 24 VA INTERNATIONAL SMALL PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2013 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (87.6%) AUSTRALIA -- (4.6%) Other Securities.......... $ 6,242,852 5.2% ----------- ---- AUSTRIA -- (0.9%) Other Securities.......... 1,160,608 1.0% ----------- ---- BELGIUM -- (1.1%) Ackermans & van Haaren NV. 2,145 232,309 0.2% Other Securities.......... 1,281,431 1.1% ----------- ---- TOTAL BELGIUM................. 1,513,740 1.3% ----------- ---- CANADA -- (7.7%) Other Securities.......... 10,384,500 8.7% ----------- ---- CHINA -- (0.0%) Other Securities.......... 10,832 0.0% ----------- ---- DENMARK -- (1.4%) * Jyske Bank A.S............ 4,088 231,135 0.2% #* Vestas Wind Systems A.S... 10,145 271,854 0.2% Other Securities.......... 1,419,546 1.2% ----------- ---- TOTAL DENMARK................. 1,922,535 1.6% ----------- ---- FINLAND -- (2.2%) Huhtamaki Oyj............. 9,505 228,476 0.2% Other Securities.......... 2,801,436 2.3% ----------- ---- TOTAL FINLAND................. 3,029,912 2.5% ----------- ---- FRANCE -- (3.9%) * Alcatel-Lucent............ 140,154 536,938 0.5% # Neopost SA................ 3,793 286,375 0.2% Teleperformance........... 4,525 239,531 0.2% Other Securities.......... 4,256,166 3.5% ----------- ---- TOTAL FRANCE.................. 5,319,010 4.4% ----------- ---- GERMANY -- (4.8%) # Deutsche Wohnen AG........ 11,908 223,952 0.2% Rheinmetall AG............ 3,691 228,191 0.2% Rhoen Klinikum AG......... 8,742 244,308 0.2% Stada Arzneimittel AG..... 5,765 331,382 0.3% Other Securities.......... 5,434,824 4.5% ----------- ---- TOTAL GERMANY................. 6,462,657 5.4% ----------- ---- GREECE -- (0.7%) Other Securities.......... 919,905 0.8% ----------- ---- HONG KONG -- (2.7%) Esprit Holdings, Ltd...... 130,050 239,791 0.2% Other Securities.......... 3,469,458 2.9% ----------- ---- TOTAL HONG KONG............... 3,709,249 3.1% ----------- ---- 25 VA INTERNATIONAL SMALL PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- IRELAND -- (0.4%) Other Securities............... $ 592,710 0.5% ----------- ----- ISRAEL -- (0.6%) Other Securities............... 861,315 0.7% ----------- ----- ITALY -- (3.1%) Azimut Holding SpA............. 8,914 226,123 0.2% Unione di Banche Italiane SCPA. 36,854 254,714 0.2% Other Securities............... 3,680,430 3.1% ----------- ----- TOTAL ITALY........................ 4,161,267 3.5% ----------- ----- JAPAN -- (19.5%) Other Securities............... 26,431,413 22.0% ----------- ----- NETHERLANDS -- (2.1%) Delta Lloyd NV................. 12,517 265,381 0.2% Nutreco NV..................... 8,732 426,869 0.4% * PostNL NV...................... 43,334 226,434 0.2% * SBM Offshore NV................ 11,207 234,568 0.2% Other Securities............... 1,620,365 1.3% ----------- ----- TOTAL NETHERLANDS.................. 2,773,617 2.3% ----------- ----- NEW ZEALAND -- (0.8%) Other Securities............... 1,135,589 0.9% ----------- ----- NORWAY -- (0.9%) Other Securities............... 1,268,781 1.1% ----------- ----- PORTUGAL -- (0.4%) Other Securities............... 470,335 0.4% ----------- ----- SINGAPORE -- (1.4%) Other Securities............... 1,925,131 1.6% ----------- ----- SPAIN -- (2.0%) Viscofan SA.................... 4,280 227,036 0.2% Other Securities............... 2,533,090 2.1% ----------- ----- TOTAL SPAIN........................ 2,760,126 2.3% ----------- ----- SWEDEN -- (3.2%) NCC AB Class B................. 8,486 261,023 0.2% Other Securities............... 3,994,405 3.3% ----------- ----- TOTAL SWEDEN....................... 4,255,428 3.5% ----------- ----- SWITZERLAND -- (4.1%) Clariant AG.................... 16,533 291,309 0.2% GAM Holding AG................. 12,356 230,882 0.2% Georg Fischer AG............... 344 236,964 0.2% Lonza Group AG................. 3,804 339,556 0.3% OC Oerlikon Corp. AG........... 15,998 223,655 0.2% Other Securities............... 4,178,858 3.5% ----------- ----- TOTAL SWITZERLAND.................. 5,501,224 4.6% ----------- ----- 26 VA INTERNATIONAL SMALL PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- UNITED KINGDOM -- (19.1%) Ashtead Group P.L.C.................................................. 49,721 $ 522,476 0.4% Balfour Beatty P.L.C................................................. 75,362 344,650 0.3% Barratt Developments P.L.C........................................... 83,350 446,970 0.4% Bellway P.L.C........................................................ 12,399 298,647 0.3% Berkeley Group Holdings P.L.C........................................ 7,459 279,601 0.2% Cobham P.L.C......................................................... 75,745 349,814 0.3% Daily Mail & General Trust P.L.C..................................... 19,287 251,557 0.2% DCC P.L.C............................................................ 7,295 326,673 0.3% * Dixons Retail P.L.C.................................................. 392,004 307,136 0.3% Drax Group P.L.C..................................................... 25,834 263,748 0.2% DS Smith P.L.C....................................................... 70,253 340,512 0.3% Electrocomponents P.L.C.............................................. 49,099 234,729 0.2% Firstgroup P.L.C..................................................... 127,647 236,067 0.2% Halma P.L.C.......................................................... 34,762 305,333 0.3% Hays P.L.C........................................................... 147,083 293,562 0.3% Hiscox, Ltd.......................................................... 22,058 234,173 0.2% Inchcape P.L.C....................................................... 24,576 250,918 0.2% Informa P.L.C........................................................ 33,824 303,010 0.3% Inmarsat P.L.C....................................................... 20,138 232,428 0.2% Persimmon P.L.C...................................................... 23,193 469,570 0.4% Rightmove P.L.C...................................................... 5,294 224,965 0.2% Rotork P.L.C......................................................... 5,316 243,559 0.2% Spectris P.L.C....................................................... 11,013 407,787 0.3% Spirax-Sarco Engineering P.L.C....................................... 6,360 297,433 0.3% Taylor Wimpey P.L.C.................................................. 237,041 418,227 0.4% Other Securities..................................................... 17,904,790 14.6% ------------ ------ TOTAL UNITED KINGDOM....................................................... 25,788,335 21.5% ------------ ------ UNITED STATES -- (0.0%) Other Securities..................................................... 17,697 0.0% ------------ ------ TOTAL COMMON STOCKS........................................................ 118,618,768 98.9% ------------ ------ PREFERRED STOCKS -- (0.0%) UNITED KINGDOM -- (0.0%) Other Securities..................................................... 344 0.0% ------------ ------ RIGHTS/WARRANTS -- (0.0%) AUSTRIA -- (0.0%) Other Securities..................................................... -- 0.0% ------------ ------ ITALY -- (0.0%) Other Securities..................................................... 940 0.0% ------------ ------ TOTAL RIGHTS/WARRANTS...................................................... 940 0.0% ------------ ------ Shares/ Face Amount Value+ ------- ------ (000) SECURITIES LENDING COLLATERAL -- (12.4%) (S)@ DFA Short Term Investment Fund....................................... 1,382,887 16,000,000 13.4% @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $854,764 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $772,979) to be repurchased at $757,826............................. $ 758 757,823 0.6% ------------ ------ TOTAL SECURITIES LENDING COLLATERAL........................................ 16,757,823 14.0% ------------ ------ TOTAL INVESTMENTS -- (100.0%) (Cost $119,891,844).................................................... $135,377,875 112.9% ============ ====== 27 VA INTERNATIONAL SMALL PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): Investments in Securities (Market Value) --------------------------------------------- Level 1 Level 2 Level 3 Total ----------- ------------ ------- ------------ Common Stocks Australia................... $ 2,810 $ 6,240,042 -- $ 6,242,852 Austria..................... -- 1,160,608 -- 1,160,608 Belgium..................... -- 1,513,740 -- 1,513,740 Canada...................... 10,383,927 573 -- 10,384,500 China....................... 2,302 8,530 -- 10,832 Denmark..................... -- 1,922,535 -- 1,922,535 Finland..................... -- 3,029,912 -- 3,029,912 France...................... 3,138 5,315,872 -- 5,319,010 Germany..................... 161,133 6,301,524 -- 6,462,657 Greece...................... -- 919,905 -- 919,905 Hong Kong................... 102,058 3,607,191 -- 3,709,249 Ireland..................... -- 592,710 -- 592,710 Israel...................... -- 861,315 -- 861,315 Italy....................... 108,299 4,052,968 -- 4,161,267 Japan....................... 147,974 26,283,439 -- 26,431,413 Netherlands................. -- 2,773,617 -- 2,773,617 New Zealand................. -- 1,135,589 -- 1,135,589 Norway...................... 30,844 1,237,937 -- 1,268,781 Portugal.................... -- 470,335 -- 470,335 Singapore................... -- 1,925,131 -- 1,925,131 Spain....................... -- 2,760,126 -- 2,760,126 Sweden...................... 197 4,255,231 -- 4,255,428 Switzerland................. -- 5,501,224 -- 5,501,224 United Kingdom.............. -- 25,788,335 -- 25,788,335 United States............... 17,697 -- -- 17,697 Preferred Stocks United Kingdom.............. -- 344 -- 344 Rights/Warrants Austria..................... -- -- -- -- Italy....................... -- 940 -- 940 Securities Lending Collateral. -- 16,757,823 -- 16,757,823 ----------- ------------ -- ------------ TOTAL......................... $10,960,379 $124,417,496 -- $135,377,875 =========== ============ == ============ See accompanying Notes to Financial Statements. 28 VA SHORT-TERM FIXED PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2013 Face Amount Value+ ------ ------ (000) AGENCY OBLIGATIONS -- (16.7%) Federal Home Loan Bank 2.375%, 03/14/14............................. $3,000 $ 3,025,203 0.250%, 02/20/15............................. 2,100 2,100,620 0.375%, 08/28/15............................. 1,100 1,101,609 Federal Home Loan Mortgage Corporation 1.750%, 09/10/15............................. 2,600 2,666,921 Federal National Mortgage Association 2.875%, 12/11/13............................. 1,900 1,905,898 2.750%, 03/13/14............................. 1,000 1,009,675 0.375%, 03/16/15............................. 5,900 5,911,387 0.500%, 07/02/15............................. 2,000 2,006,540 2.375%, 07/28/15............................. 1,200 1,242,842 0.500%, 09/28/15............................. 1,500 1,504,229 4.375%, 10/15/15............................. 1,000 1,078,148 1.625%, 10/26/15............................. 500 512,436 ----------- TOTAL AGENCY OBLIGATIONS........................... 24,065,508 ----------- BONDS -- (68.2%) Agence Francaise de Developpement 1.250%, 06/09/14............................. 2,600 2,613,988 Asian Development Bank 0.500%, 08/17/15............................. 1,500 1,503,945 Australia & New Zealand Banking Group, Ltd. 2.125%, 09/19/14............................. 834 842,006 3.700%, 01/13/15............................. 650 674,505 (r) 0.487%, 01/29/15............................. 1,500 1,503,714 Bank Nederlandse Gemeenten 1.500%, 03/28/14............................. 500 502,410 5.000%, 05/16/14............................. 500 512,502 3.125%, 01/12/15............................. 1,000 1,032,456 1.375%, 03/23/15............................. 1,000 1,014,100 Bank of New York Mellon Corp. (The) # 2.950%, 06/18/15............................. 800 831,344 Bank of New York Mellon Corp. (The) Floating Rate Note #(r) 0.522%, 01/31/14............................. 1,175 1,175,638 Bank of Nova Scotia # 2.375%, 12/17/13............................. 2,500 2,506,250 Berkshire Hathaway Finance Corp. 1.500%, 01/10/14............................. 300 300,719 British Columbia, Province of Canada 2.850%, 06/15/15............................. 3,000 3,120,780 Caisse d'Amortissement de la Dette Sociale 3.500%, 07/01/14............................. 500 510,552 1.250%, 07/11/14............................. 2,000 2,013,020 Face Amount Value+ ------ ------ (000) Commonwealth Bank of Australia (r) 1.494%, 01/17/14............................. $1,000 $1,003,096 3.750%, 10/15/14............................. 1,800 1,853,100 1.250%, 09/18/15............................. 500 505,872 Cooperatieve Centrale Raiffeisen- Boerenleenbank BA 1.875%, 12/15/14............................. 2,100 2,131,303 Council Of Europe Development Bank 4.500%, 06/30/14............................. 500 513,810 # 2.750%, 02/10/15............................. 500 515,450 4.000%, 04/15/15............................. 2,000 2,104,268 DBS Bank Ltd. 2.375%, 09/14/15............................. 1,800 1,850,591 European Investment Bank 4.750%, 10/15/14............................. 1,000 1,042,734 # 2.875%, 01/15/15............................. 1,000 1,031,180 # 1.125%, 04/15/15............................. 500 505,780 1.000%, 07/15/15............................. 500 505,380 Export Development Canada 2.250%, 05/28/15............................. 1,500 1,545,555 General Electric Capital Corp. 2.150%, 01/09/15............................. 1,550 1,580,781 # 4.875%, 03/04/15............................. 1,600 1,690,782 JPMorgan Chase & Co. Floating Rate Note (r) 1.038%, 01/24/14............................. 800 801,587 KFW 3.500%, 03/10/14............................. 500 505,723 1.000%, 01/12/15............................. 2,000 2,017,460 Kommunalbanken A.S. 1.000%, 06/16/14............................. 1,000 1,004,419 2.875%, 10/27/14............................. 500 512,650 1.000%, 02/09/15............................. 1,100 1,109,504 Kommunekredit 0.750%, 09/02/14............................. 1,000 1,003,940 Landwirtschaftliche Rentenbank 2.250%, 03/11/14............................. 400 402,842 3.125%, 07/15/15............................. 1,500 1,568,565 Manitoba, Province of Canada 1.375%, 04/28/14............................. 1,200 1,206,174 National Australia Bank, Ltd. (r) 1.436%, 01/30/14............................. 1,000 1,003,502 2.000%, 03/09/15............................. 300 305,952 National Australia Bank, Ltd. Floating Rate Note (r) 1.415%, 02/14/14............................. 2,000 2,006,832 Nederlandse Waterschapsbank NV 1.375%, 05/16/14............................. 1,800 1,809,945 # 1.250%, 10/20/14............................. 1,450 1,463,412 Nordea Bank AB # 2.250%, 03/20/15............................. 500 511,000 Nordea Bank Finland P.L.C. Floating Rate Note (r) 1.123%, 04/09/14............................. 2,500 2,510,852 29 VA SHORT-TERM FIXED PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) Nordic Investment Bank 2.625%, 10/06/14............................. $ 600 $ 613,086 2.500%, 07/15/15............................. 1,000 1,034,800 Novartis Capital Corp. 2.900%, 04/24/15............................. 1,000 1,037,384 NRW Bank 1.250%, 05/15/15............................. 1,000 1,012,416 NRW Bank Floating Rate Note (r) 0.580%, 12/01/14............................. 1,000 1,002,900 Oesterreichische Kontrollbank AG 1.375%, 01/21/14............................. 2,000 2,004,980 Ontario, Province of Canada 4.500%, 02/03/15............................. 1,100 1,156,738 2.950%, 02/05/15............................. 1,500 1,548,615 0.950%, 05/26/15............................. 500 504,215 Quebec, Province of Canada 4.875%, 05/05/14............................. 2,000 2,046,770 # 4.600%, 05/26/15............................. 1,000 1,064,820 Rabobank Nederland 0.600%, 04/29/15............................. 1,000 997,074 Royal Bank of Canada # 1.150%, 03/13/15............................. 500 504,608 # 0.550%, 05/01/15............................. 3,200 3,200,134 Sanofi 1.625%, 03/28/14............................. 1,500 1,507,494 Societe Financement de l'Economie Francaise 2.875%, 09/22/14............................. 1,000 1,022,746 State of North Rhine-Westphalia 1.625%, 09/17/14............................. 500 505,402 Svensk Exportkredit AB....................... 3.250%, 09/16/14............................. 1,800 1,846,584 Svensk Exportkredit AB Floating Rate Note (r) 0.400%, 03/23/14............................. 1,000 1,000,570 Svenska Handelsbanken AB (r) 0.423%, 10/06/14............................. 500 500,713 (r) 0.536%, 01/16/15............................. 1,000 1,002,397 Sweden Government International Bond 1.000%, 06/03/14............................. 200 201,020 Toronto-Dominion Bank (The) 1.375%, 07/14/14............................. 800 806,210 Toronto-Dominion Bank (The) Floating Rate Note (r) 0.544%, 07/14/14............................. 1,500 1,503,205 (r) 0.445%, 05/01/15............................. 1,000 1,000,744 Total Capital Canada, Ltd. Floating Rate Note (r) 0.624%, 01/17/14............................. 1,200 1,201,180 Total Capital SA 3.000%, 06/24/15............................. 700 728,510 Face Amount Value+ ------ ------ (000) Toyota Motor Credit Corp. 1.250%, 11/17/14............................. $ 805 $ 812,825 # 1.000%, 02/17/15............................. 1,500 1,512,141 Toyota Motor Credit Corp. Floating Rate Note (r) 0.430%, 12/05/14............................. 400 400,543 (r) 0.393%, 04/08/15............................. 500 499,894 US Bancorp 2.875%, 11/20/14............................. 2,000 2,052,330 Westpac Banking Corp. (r) 1.215%, 02/14/14............................. 1,500 1,504,182 # 4.200%, 02/27/15............................. 813 852,947 3.000%, 08/04/15............................. 1,000 1,042,233 ------------ TOTAL BONDS........................................ 98,014,380 ------------ U.S. TREASURY OBLIGATIONS -- (3.9%) U.S. Treasury Notes 0.250%, 07/15/15............................. 2,500 2,499,513 1.750%, 07/31/15............................. 750 769,277 0.250%, 08/15/15............................. 1,600 1,599,374 1.250%, 08/31/15............................. 700 712,332 ------------ TOTAL U.S. TREASURY OBLIGATIONS.................... 5,580,496 ------------ COMMERCIAL PAPER -- (5.3%) Caisse des Depots et Consignations ## 0.230%, 12/04/13............................. 2,000 1,999,711 DBS Bank, Ltd. ## 0.160%, 01/06/14............................. 1,000 999,712 Standard Chartered Bank ## 0.180%, 11/18/13............................. 1,200 1,199,949 ## 0.160%, 01/03/14............................. 2,500 2,499,302 United Overseas Bank, Ltd. ## 0.190%, 01/10/14............................. 900 899,721 ------------ TOTAL COMMERCIAL PAPER............................. 7,598,395 ------------ Shares ------ - TEMPORARY CASH INVESTMENTS -- (0.7%) State Street Institutional Liquid Reserves, 0.073%...................................... 1,034,586 1,034,586 ------------ Shares/ Face Amount ------- (000) SECURITIES LENDING COLLATERAL -- (5.2%) (S)@ DFA Short Term Investment Fund............... 645,067 7,463,430 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $143,580,171).............................. $143,756,795 ============ 30 VA SHORT-TERM FIXED PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): Investments in Securities (Market Value) -------------------------------------------- Level 1 Level 2 Level 3 Total ---------- ------------ ------- ------------ Agency Obligations............ -- $ 24,065,508 -- $ 24,065,508 Bonds......................... -- 98,014,380 -- 98,014,380 U.S. Treasury Obligations..... -- 5,580,496 -- 5,580,496 Commercial Paper.............. -- 7,598,395 -- 7,598,395 Temporary Cash Investments.... $1,034,586 -- -- 1,034,586 Securities Lending Collateral. -- 7,463,430 -- 7,463,430 ---------- ------------ -- ------------ TOTAL......................... $1,034,586 $142,722,209 -- $143,756,795 ========== ============ == ============ See accompanying Notes to Financial Statements. 31 VA GLOBAL BOND PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2013 Face Amount^ Value+ ------- ------ (000) BONDS -- (87.6%) AUSTRALIA -- (4.7%) Australia & New Zealand Banking Group, Ltd. 1.450%, 05/15/18............................. 900 $ 881,066 Commonwealth Bank of Australia 1.900%, 09/18/17............................. 590 597,555 4.250%, 04/06/18............................. EUR 2,300 3,508,217 2.500%, 09/20/18............................. 400 408,539 Westpac Banking Corp. 2.000%, 08/14/17............................. 3,000 3,052,881 ----------- TOTAL AUSTRALIA.................................. 8,448,258 ----------- AUSTRIA -- (2.2%) Austria Government Bond 4.300%, 09/15/17............................. EUR 1,900 2,937,996 Oesterreichische Kontrollbank AG 1.125%, 05/29/18............................. 1,000 987,672 ----------- TOTAL AUSTRIA.................................... 3,925,668 ----------- BELGIUM -- (1.7%) Belgium Government Bond 5.500%, 09/28/17............................. EUR 1,950 3,116,318 ----------- CANADA -- (11.8%) Bank of Nova Scotia 2.550%, 01/12/17............................. 4,000 4,167,312 British Columbia, Province of Canada 1.200%, 04/25/17............................. 3,100 3,129,062 Manitoba, Province of Canada 1.300%, 04/03/17............................. 1,000 1,011,768 Ontario, Province of Canada 1.100%, 10/25/17............................. 1,300 1,290,052 # 1.200%, 02/14/18............................. 2,700 2,674,642 Royal Bank of Canada # 1.500%, 01/16/18............................. 3,400 3,368,785 2.200%, 07/27/18............................. 1,000 1,010,885 Toronto-Dominion Bank (The) 1.400%, 04/30/18............................. 1,500 1,471,831 # 2.625%, 09/10/18............................. 2,500 2,581,462 Total Capital Canada, Ltd. 1.450%, 01/15/18............................. 750 744,920 ----------- TOTAL CANADA..................................... 21,450,719 ----------- DENMARK -- (4.2%) Denmark Government Bond 4.000%, 11/15/17............................. DKK 20,000 4,147,272 Kommunekredit 1.125%, 03/15/18............................. 3,500 3,444,231 ----------- TOTAL DENMARK.................................... 7,591,503 ----------- Face Amount^ Value+ ------- ------ (000) FINLAND -- (2.5%) Municipality Finance P.L.C. 1.625%, 04/25/17............................. 1,000 $ 1,019,792 1.125%, 12/07/17............................. GBP 1,000 1,585,922 1.125%, 04/17/18............................. 2,000 1,963,040 ----------- TOTAL FINLAND.................................... 4,568,754 ----------- FRANCE -- (4.0%) France Government Bond OAT 4.250%, 10/25/17............................. EUR 2,500 3,863,370 Total Capital International SA 1.550%, 06/28/17............................. 3,300 3,333,106 ----------- TOTAL FRANCE..................................... 7,196,476 ----------- GERMANY -- (6.4%) KFW 0.875%, 10/13/17............................. EUR 500 684,557 1.000%, 12/07/17............................. GBP 2,000 3,166,168 Landeskreditbank Baden- Wuerttemberg Foerderbank 0.875%, 12/15/17............................. GBP 1,000 1,569,247 Landwirtschaftliche Rentenbank 0.875%, 09/12/17............................. 1,500 1,487,481 1.000%, 12/15/17............................. GBP 2,000 3,165,976 NRW Bank 0.875%, 12/15/17............................. GBP 1,000 1,563,025 ----------- TOTAL GERMANY.................................... 11,636,454 ----------- JAPAN -- (3.4%) Development Bank of Japan, Inc. 5.125%, 02/01/17............................. 1,000 1,129,729 Japan Bank for International Cooperation 1.750%, 07/31/18............................. 4,000 4,008,568 Japan Finance Organization for Municipalities 1.375%, 02/05/18............................. 1,000 985,550 ----------- TOTAL JAPAN...................................... 6,123,847 ----------- NETHERLANDS -- (6.5%) Bank Nederlandse Gemeenten 1.375%, 09/27/17............................. 2,100 2,104,830 1.375%, 03/19/18............................. 800 794,038 Cooperatieve Centrale Raiffeisen-Boerenleenbank BA # 3.375%, 01/19/17............................. 1,000 1,065,659 32 VA GLOBAL BOND PORTFOLIO CONTINUED Face Amount^ Value+ ------- ------ (000) NETHERLANDS -- (Continued) Netherlands Government Bond 4.500%, 07/15/17............................. EUR 2,400 $ 3,719,423 Shell International Finance BV 1.900%, 08/10/18............................. 4,000 4,042,376 ----------- TOTAL NETHERLANDS................................ 11,726,326 ----------- NEW ZEALAND -- (1.0%) New Zealand Government Bond 6.000%, 12/15/17............................. NZD 2,000 1,785,481 ----------- NORWAY -- (3.9%) Kommunalbanken A.S. 1.375%, 06/08/17............................. 1,000 1,010,300 1.000%, 09/26/17............................. 900 891,675 1.125%, 12/15/17............................. GBP 1,000 1,583,838 1.000%, 03/15/18............................. 1,000 979,740 Statoil ASA 1.150%, 05/15/18............................. 2,600 2,556,091 ----------- TOTAL NORWAY..................................... 7,021,644 ----------- SINGAPORE -- (1.3%) Singapore Government Bond 0.500%, 04/01/18............................. SGD 3,000 2,395,450 ----------- SUPRANATIONAL ORGANIZATION OBLIGATIONS -- (5.7%) Council Of Europe Development Bank 1.500%, 02/22/17............................. 3,500 3,559,546 # 1.000%, 03/07/18............................. 500 491,154 European Financial Stability Facility 1.625%, 09/15/17............................. EUR 1,800 2,517,338 European Investment Bank # 1.000%, 12/15/17............................. 600 594,323 1.375%, 01/15/18............................. GBP 2,000 3,178,899 ----------- TOTAL SUPRANATIONAL ORGANIZATION OBLIGATIONS..... 10,341,260 ----------- SWEDEN -- (5.5%) Kingdom of Sweden 0.875%, 01/31/18............................. EUR 800 1,094,498 Kommuninvest I Sverige AB 1.625%, 02/13/17............................. 3,000 3,064,380 1.000%, 10/24/17............................. 900 893,927 Nordea Bank AB 3.750%, 02/24/17............................. EUR 1,000 1,476,748 Svensk Exportkredit AB 1.750%, 05/30/17............................. 3,400 3,479,339 ----------- TOTAL SWEDEN..................................... 10,008,892 ----------- Face Amount^ Value+ ------- ------ (000) UNITED KINGDOM -- (4.0%) Barclays Bank P.L.C. 1.500%, 04/04/17............................. GBP 1,000 $ 1,620,074 Lloyds TSB Bank P.L.C. 1.500%, 05/02/17............................. GBP 500 810,182 United Kingdom Gilt 1.250%, 07/22/18............................. GBP 3,000 4,761,855 ------------ TOTAL UNITED KINGDOM............................. 7,192,111 ------------ UNITED STATES -- (18.8%) 3M Co. 1.000%, 06/26/17............................. $1,000 993,687 Apple, Inc. # 1.000%, 05/03/18............................. 4,700 4,562,694 Berkshire Hathaway Finance Corp. 1.600%, 05/15/17............................. 1,200 1,209,574 1.300%, 05/15/18............................. 2,500 2,459,010 Berkshire Hathaway, Inc. 1.550%, 02/09/18............................. 900 896,396 Chevron Corp. 1.104%, 12/05/17............................. 3,800 3,760,351 1.718%, 06/24/18............................. 173 173,230 Coca-Cola Co. (The) # 1.150%, 04/01/18............................. 1,500 1,476,588 Colgate-Palmolive Co. 1.300%, 01/15/17............................. 600 604,744 0.900%, 05/01/18............................. 500 487,076 General Electric Capital Corp. 5.625%, 09/15/17............................. 2,500 2,870,445 1.600%, 11/20/17............................. 600 600,993 # 1.625%, 04/02/18............................. 1,000 998,195 International Business Machines Corp. 5.700%, 09/14/17............................. 1,300 1,511,481 1.250%, 02/08/18............................. 1,000 987,778 Johnson & Johnson 5.150%, 07/15/18............................. 1,930 2,236,961 Toyota Motor Credit Corp. # 1.750%, 05/22/17............................. 500 507,643 # 1.375%, 01/10/18............................. 3,500 3,462,994 2.000%, 10/24/18............................. 500 502,181 Wal-Mart Stores, Inc. 5.375%, 04/05/17............................. 1,000 1,140,513 5.800%, 02/15/18............................. 1,000 1,174,884 1.125%, 04/11/18............................. 1,500 1,472,941 ------------ TOTAL UNITED STATES.............................. 34,090,359 ------------ TOTAL BONDS...................................... 158,619,520 ------------ 33 VA GLOBAL BOND PORTFOLIO CONTINUED Face Amount^ Value+ ------- ------ (000) AGENCY OBLIGATIONS -- (3.7%) Federal Home Loan Mortgage Corporation # 4.875%, 06/13/18............................. 3,000 $3,468,996 Federal National Mortgage Association 0.875%, 05/21/18............................. 2,200 2,149,180 1.875%, 09/18/18............................. 1,000 1,015,922 ---------- TOTAL AGENCY OBLIGATIONS......................... 6,634,098 ---------- Shares/ Face Amount Value+ - ------- ------ (000) SECURITIES LENDING COLLATERAL -- (8.7%) (S)@ DFA Short Term Investment Fund............... 1,296,456 $ 15,000,000 @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $911,676 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $824,446) to be repurchased at $808,283.. $808 808,280 ------------ TOTAL SECURITIES LENDING COLLATERAL................ 15,808,280 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $179,383,910).............................. $181,061,898 ============ Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): Investments in Securities (Market Value) ----------------------------------------- Level 1 Level 2 Level 3 Total ------- ------------ ------- ------------ Bonds Australia.............................. -- $ 8,448,258 -- $ 8,448,258 Austria................................ -- 3,925,668 -- 3,925,668 Belgium................................ -- 3,116,318 -- 3,116,318 Canada................................. -- 21,450,719 -- 21,450,719 Denmark................................ -- 7,591,503 -- 7,591,503 Finland................................ -- 4,568,754 -- 4,568,754 France................................. -- 7,196,476 -- 7,196,476 Germany................................ -- 11,636,454 -- 11,636,454 Japan.................................. -- 6,123,847 -- 6,123,847 Netherlands............................ -- 11,726,326 -- 11,726,326 New Zealand............................ -- 1,785,481 -- 1,785,481 Norway................................. -- 7,021,644 -- 7,021,644 Singapore.............................. -- 2,395,450 -- 2,395,450 Supranational Organization Obligations. -- 10,341,260 -- 10,341,260 Sweden................................. -- 10,008,892 -- 10,008,892 United Kingdom......................... -- 7,192,111 -- 7,192,111 United States.......................... -- 34,090,359 -- 34,090,359 Agency Obligations....................... -- 6,634,098 -- 6,634,098 Securities Lending Collateral............ -- 15,808,280 -- 15,808,280 Forward Currency Contracts**............. -- 31,455 -- 31,455 -- ------------ -- ------------ TOTAL.................................... -- $181,093,353 -- $181,093,353 == ============ == ============ **Not reflected in the Schedule of Investments, valued at the unrealized appreciation/(depreciation) on the investment. (Note G) See accompanying Notes to Financial Statements. 34 DFA VA GLOBAL MODERATE ALLOCATION PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2013 Shares Value+ ------- ----------- AFFILIATED INVESTMENT COMPANIES -- (99.9%) Investment in U.S. Core Equity 2 Portfolio of DFA Investment Dimensions Group Inc................................. 752,101 $11,747,811 Investment in International Core Equity Portfolio of DFA Investment Dimensions Group Inc................................. 511,765 6,432,880 Investment in VA Global Bond Portfolio of DFA Investment Dimensions Group Inc................................. 460,627 5,030,051 Investment in DFA Selectively Hedged Global Fixed Income Portfolio of DFA Investment Dimensions Group Inc................................. 486,445 4,966,601 Investment in U.S. Core Equity 1 Portfolio of DFA Investment Dimensions Group Inc................................. 268,141 4,220,539 Investment in Emerging Markets Core Equity Portfolio of DFA Investment Dimensions Group Inc................................. 104,355 2,096,487 Investment in DFA Two-Year Global Fixed Income Portfolio of DFA Investment Dimensions Group Inc................................. 197,327 1,985,108 Investment in VA Short-Term Fixed Portfolio of DFA Investment Dimensions Group Inc................................. 193,866 1,983,249 Investment in VA U.S. Large Value Portfolio of DFA Investment Dimensions Group Inc................................. 38,682 873,443 Investment in VA International Value Portfolio of DFA Investment Dimensions Group Inc................................. 57,771 763,734 Investment in DFA Real Estate Securities Portfolio of DFA Investment Dimensions Group Inc................................. 12,717 353,160 ----------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANIES (Cost $37,421,558)............................................... 40,453,063 ----------- TEMPORARY CASH INVESTMENTS -- (0.1%) State Street Institutional Liquid Reserves, 0.073% (Cost $23,714)...................................................... 23,714 23,714 ----------- TOTAL INVESTMENTS -- (100.0%) (Cost $37,445,272)............................................... $40,476,777 =========== Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): Investments in Securities (Market Value) --------------------------------------- Level 1 Level 2 Level 3 Total ----------- ------- ------- ----------- Affiliated Investment Companies. $40,453,063 -- -- $40,453,063 Temporary Cash Investments...... 23,714 -- -- 23,714 ----------- -- -- ----------- TOTAL........................... $40,476,777 -- -- $40,476,777 =========== == == =========== See accompanying Notes to Financial Statements. 35 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (Amounts in thousands, except share and per share amounts) VA U.S. VA Targeted Value VA U.S. Large International Portfolio Value Portfolio Value Portfolio* -------------- --------------- ---------------- ASSETS: Investments at Value (including $76,677, $18,071 and $9,580 of securities on loan, respectively)................................................... $ 160,097 $ 199,549 $ 138,121 Temporary Cash Investments at Value & Cost................................ 1,896 1,791 -- Collateral Received from Securities on Loan at Value & Cost............... -- -- 196 Collateral from Securities on Loan Invested in Affiliate at Value & Cost.. 79,145 18,544 9,000 Foreign Currencies at Value............................................... -- -- 134 Cash...................................................................... 19 -- 553 Receivables: Investment Securities Sold.............................................. 21 1,439 31 Dividends, Interest and Tax Reclaims.................................... 42 245 334 Securities Lending Income............................................... 15 7 5 Fund Shares Sold........................................................ 193 158 18 Prepaid Expenses and Other Assets......................................... 1 -- -- ------------ ------------ ------------ Total Assets......................................................... 241,429 221,733 148,392 ------------ ------------ ------------ LIABILITIES: Payables: Upon Return of Securities Loaned........................................ 79,145 18,544 9,196 Investment Securities Purchased......................................... 751 1,941 729 Fund Shares Redeemed.................................................... 149 1,065 487 Due to Advisor.......................................................... 46 41 46 Unrealized Loss on Foreign Currency Contracts............................. -- -- 4 Accrued Expenses and Other Liabilities.................................... 17 19 22 ------------ ------------ ------------ Total Liabilities.................................................... 80,108 21,610 10,484 ------------ ------------ ------------ NET ASSETS................................................................ $ 161,321 $ 200,123 $ 137,908 ============ ============ ============ SHARES OUTSTANDING, $0.01 PAR VALUE (1)................................... 9,148,282 8,861,454 10,435,071 ============ ============ ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE.................................................................... $ 17.63 $ 22.58 $ 13.22 ============ ============ ============ Investments at Cost....................................................... $ 120,566 $ 146,957 $ 128,730 ============ ============ ============ Foreign Currencies at Cost................................................ $ -- $ -- $ 134 ============ ============ ============ NET ASSETS CONSIST OF: Paid-In Capital........................................................... $ 125,446 $ 128,562 $ 127,903 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)....................................................... 826 2,417 3,031 Accumulated Net Realized Gain (Loss)...................................... (4,482) 16,552 (2,419) Net Unrealized Foreign Exchange Gain (Loss)............................... -- -- 2 Net Unrealized Appreciation (Depreciation)................................ 39,531 52,592 9,391 ------------ ------------ ------------ NET ASSETS................................................................ $ 161,321 $ 200,123 $ 137,908 ============ ============ ============ (1) NUMBER OF SHARES AUTHORIZED........................................... 100,000,000 100,000,000 100,000,000 ============ ============ ============ ---------- * See Note I in the Notes to Financial Statements for additional securities lending collateral. See accompanying Notes to Financial Statements. 36 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (Amounts in thousands, except share and per share amounts) VA VA Short- International Term Fixed VA Global Small Portfolio* Portfolio Bond Portfolio ---------------- ------------ -------------- ASSETS: Investments in Affiliated Investment Companies at Value............. $ -- $ -- $ -- Investments at Value (including $16,487, $7,306, $15,459 and $0 of securities on loan, respectively).................................. $ 118,620 $ 135,258 $ 165,254 Temporary Cash Investments at Value & Cost.......................... -- 1,035 -- Collateral Received from Securities on Loan at Value & Cost......... 758 -- 808 Collateral from Securities on Loan Invested in Affiliate at Value & Cost............................................................... 16,000 7,463 15,000 Foreign Currencies at Value......................................... 373 -- 144 Cash................................................................ 2,547 -- 800 Receivables: Investment Securities Sold........................................ 2 -- -- Dividends, Interest and Tax Reclaims.............................. 273 614 1,102 Securities Lending Income......................................... 16 -- 1 Fund Shares Sold.................................................. 170 1,603 63 From Advisor...................................................... -- -- -- Unrealized Gain on Forward Currency Contracts....................... -- -- 185 Unrealized Gain on Foreign Currency Contracts....................... -- -- 2 Deferred Offering Costs............................................. -- -- -- Prepaid Expenses and Other Assets................................... -- 1 1 ------------ ------------ ------------ Total Assets..................................................... 138,759 145,974 183,360 ------------ ------------ ------------ LIABILITIES: Payables: Upon Return of Securities Loaned.................................. 16,758 7,463 15,808 Investment Securities Purchased................................... 1,693 -- -- Fund Shares Redeemed.............................................. 305 47 55 Due to Advisor.................................................... 49 29 32 Loan Payable...................................................... -- 513 -- Unrealized Loss on Forward Currency Contracts....................... -- -- 154 Unrealized Loss on Foreign Currency Contracts....................... 3 -- -- Accrued Expenses and Other Liabilities.............................. 24 16 18 ------------ ------------ ------------ Total Liabilities................................................ 18,832 8,068 16,067 ------------ ------------ ------------ NET ASSETS.......................................................... $ 119,927 $ 137,906 $ 167,293 ============ ============ ============ SHARES OUTSTANDING, $0.01 PAR VALUE (1)............................. 9,559,346 13,480,480 15,315,372 ============ ============ ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE.............................................................. $ 12.55 $ 10.23 $ 10.92 ============ ============ ============ Investments in Affiliated Investment Companies at Cost.............. $ -- $ -- $ -- ------------ ------------ ------------ Investments at Cost................................................. $ 103,134 $ 135,082 $ 163,576 ============ ============ ============ Foreign Currencies at Cost.......................................... $ 374 $ -- $ 147 ============ ============ ============ NET ASSETS CONSIST OF: Paid-In Capital..................................................... $ 98,983 $ 137,327 $ 162,763 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)................................................. 1,857 302 424 Accumulated Net Realized Gain (Loss)................................ 3,601 101 2,388 Net Unrealized Foreign Exchange Gain (Loss)......................... 1 -- 43 Net Unrealized Appreciation (Depreciation).......................... 15,485 176 1,675 ------------ ------------ ------------ NET ASSETS.......................................................... $ 119,927 $ 137,906 $ 167,293 ============ ============ ============ (1) NUMBER OF SHARES AUTHORIZED..................................... 100,000,000 100,000,000 100,000,000 ============ ============ ============ DFA VA Global Moderate Allocation Portfolio ------------------- ASSETS: Investments in Affiliated Investment Companies at Value............. $ 40,453 Investments at Value (including $16,487, $7,306, $15,459 and $0 of securities on loan, respectively).................................. $ -- Temporary Cash Investments at Value & Cost.......................... 24 Collateral Received from Securities on Loan at Value & Cost......... -- Collateral from Securities on Loan Invested in Affiliate at Value & Cost............................................................... -- Foreign Currencies at Value......................................... -- Cash................................................................ -- Receivables: Investment Securities Sold........................................ -- Dividends, Interest and Tax Reclaims.............................. -- Securities Lending Income......................................... -- Fund Shares Sold.................................................. -- From Advisor...................................................... 6 Unrealized Gain on Forward Currency Contracts....................... -- Unrealized Gain on Foreign Currency Contracts....................... -- Deferred Offering Costs............................................. 16 Prepaid Expenses and Other Assets................................... -- ------------ Total Assets..................................................... 40,499 ------------ LIABILITIES: Payables: Upon Return of Securities Loaned.................................. -- Investment Securities Purchased................................... -- Fund Shares Redeemed.............................................. -- Due to Advisor.................................................... -- Loan Payable...................................................... -- Unrealized Loss on Forward Currency Contracts....................... -- Unrealized Loss on Foreign Currency Contracts....................... -- Accrued Expenses and Other Liabilities.............................. 16 ------------ Total Liabilities................................................ 16 ------------ NET ASSETS.......................................................... $ 40,483 ============ SHARES OUTSTANDING, $0.01 PAR VALUE (1)............................. 3,711,398 ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE.............................................................. $ 10.91 ============ Investments in Affiliated Investment Companies at Cost.............. $ 37,422 ------------ Investments at Cost................................................. $ -- ============ Foreign Currencies at Cost.......................................... $ -- ============ NET ASSETS CONSIST OF: Paid-In Capital..................................................... $ 37,094 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)................................................. 250 Accumulated Net Realized Gain (Loss)................................ 108 Net Unrealized Foreign Exchange Gain (Loss)......................... -- Net Unrealized Appreciation (Depreciation).......................... 3,031 ------------ NET ASSETS.......................................................... $ 40,483 ============ (1) NUMBER OF SHARES AUTHORIZED..................................... 100,000,000 ============ ---------- * See Note I in the Notes to Financial Statements for additional securities lending collateral. See accompanying Notes to Financial Statements. 37 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2013 (Amounts in thousands) VA U.S. VA Targeted Value VA U.S. Large International Portfolio Value Portfolio Value Portfolio -------------- --------------- --------------- Investment Income Dividends (Net of Foreign Taxes Withheld of $0, $1 and $291, respectively)................................................ $ 2,008 $ 3,501 $ 3,666 Interest...................................................... 1 1 -- Income from Securities Lending................................ 92 48 187 ------- ------- ------- Total Investment Income.................................... 2,101 3,550 3,853 ------- ------- ------- Expenses Investment Advisory Services Fees............................. 442 431 459 Accounting & Transfer Agent Fees.............................. 18 22 26 Custodian Fees................................................ 10 6 33 Filing Fees................................................... 1 -- 1 Shareholders' Reports......................................... 3 4 2 Directors'/Trustees' Fees & Expenses.......................... 1 2 1 Professional Fees............................................. 11 17 11 Other......................................................... 5 4 5 ------- ------- ------- Total Expenses............................................. 491 486 538 ------- ------- ------- Fees Paid Indirectly.......................................... -- -- (1) ------- ------- ------- Net Expenses.................................................. 491 486 537 ------- ------- ------- Net Investment Income (Loss).................................. 1,610 3,064 3,316 ------- ------- ------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold.................................. 8,116 19,286 839 Futures..................................................... 14 -- -- Foreign Currency Transactions............................... -- -- (28) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.................. 34,514 30,264 22,926 Translation of Foreign Currency Denominated Amounts......... -- -- 5 ------- ------- ------- Net Realized and Unrealized Gain (Loss)....................... 42,644 49,550 23,742 ------- ------- ------- Net Increase (Decrease) in Net Assets Resulting from Operations. $44,254 $52,614 $27,058 ======= ======= ======= See accompanying Notes to Financial Statements. 38 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2013 (Amounts in thousands) DFA VA Global VA VA Short- Moderate International Term Fixed VA Global Allocation Small Portfolio Portfolio Bond Portfolio Portfolio (a) --------------- ---------- -------------- ------------- Investment Income Income Distributions Received from Affiliated Investment Companies.................................................... -- -- -- 270 ------- ----- ------- ------ Total Net Investment Income Received from Affiliated Investment Companies....................................... -- -- -- 270 ------- ----- ------- ------ Dividends (Net of Foreign Taxes Withheld of $213, $0, $0 and $0, respectively)............................................ $ 2,731 $ -- $ -- $ -- Interest...................................................... 1 730 1,969 -- Income from Securities Lending................................ 243 4 15 -- ------- ----- ------- ------ Total Investment Income.................................... 2,975 734 1,984 -- ------- ----- ------- ------ Expenses Investment Advisory Services Fees............................. 496 305 354 54 Accounting & Transfer Agent Fees.............................. 24 18 23 10 Custodian Fees................................................ 102 4 9 -- Filing Fees................................................... 1 3 3 5 Shareholders' Reports......................................... 2 3 3 -- Directors'/Trustees' Fees & Expenses.......................... 1 1 2 -- Professional Fees............................................. 9 12 15 6 Organizational & Offering Costs............................... -- -- -- 67 Other......................................................... 7 2 3 -- ------- ----- ------- ------ Total Expenses............................................. 642 348 412 142 ------- ----- ------- ------ Fees (Waived), Expenses Reimbursed, and/or Previously Waived Fees Recovered by Advisor (Note C).................... -- -- -- (113) Fees Paid Indirectly.......................................... -- -- (2) -- ------- ----- ------- ------ Net Expenses.................................................. 642 348 410 29 ------- ----- ------- ------ Net Investment Income (Loss).................................. 2,333 386 1,574 241 ------- ----- ------- ------ Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold.................................. 3,779 110 2,995 108 Foreign Currency Transactions............................... (33) -- (2,051) -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.................. 20,645 (126) (2,110) 3,031 Translation of Foreign Currency Denominated Amounts......... 4 -- 645 -- ------- ----- ------- ------ Net Realized and Unrealized Gain (Loss)....................... 24,395 (16) (521) 3,139 ------- ----- ------- ------ Net Increase (Decrease) in Net Assets Resulting from Operations..................................................... $26,728 $ 370 $ 1,053 $3,380 ======= ===== ======= ====== ---------- (a)The Portfolio commenced operations on April 8, 2013. See accompanying Notes to Financial Statements. 39 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (Amounts in thousands) VA U.S. Targeted VA U.S. Large Value Portfolio Value Portfolio ------------------ ------------------ Year Year Year Year Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2013 2012 -------- -------- -------- -------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)........................................ $ 1,610 $ 975 $ 3,064 $ 2,623 Net Realized Gain (Loss) on: Investment Securities Sold........................................ 8,116 2,632 19,286 1,976 Futures........................................................... 14 -- -- -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities............................................. 34,514 10,707 30,264 18,328 -------- -------- -------- -------- Net Increase (Decrease) in Net Assets Resulting from Operations... 44,254 14,314 52,614 22,927 -------- -------- -------- -------- Distributions From: Net Investment Income............................................... (1,513) (709) (2,749) (2,165) -------- -------- -------- -------- Total Distributions.............................................. (1,513) (709) (2,749) (2,165) -------- -------- -------- -------- Capital Share Transactions (1): Shares Issued....................................................... 41,539 18,588 40,912 24,293 Shares Issued in Lieu of Cash Distributions......................... 1,513 709 2,749 2,165 Shares Redeemed..................................................... (27,317) (18,902) (44,449) (20,067) -------- -------- -------- -------- Net Increase (Decrease) from Capital Share Transactions.......... 15,735 395 (788) 6,391 -------- -------- -------- -------- Total Increase (Decrease) in Net Assets.......................... 58,476 14,000 49,077 27,153 Net Assets............................................................ Beginning of Year................................................... 102,845 88,845 151,046 123,893 -------- -------- -------- -------- End of Year......................................................... $161,321 $102,845 $200,123 $151,046 ======== ======== ======== ======== (1) Shares Issued and Redeemed: Shares Issued....................................................... 2,689 1,591 2,039 1,576 Shares Issued in Lieu of Cash Distributions......................... 119 66 162 154 Shares Redeemed..................................................... (1,836) (1,595) (2,278) (1,279) -------- -------- -------- -------- Net Increase (Decrease) from Shares Issued and Redeemed.......... 972 62 (77) 451 ======== ======== ======== ======== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)................................................... $ 826 $ 722 $ 2,417 $ 2,102 See accompanying Notes to Financial Statements. 40 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (Amounts in thousands) VA International VA International Value Portfolio Small Portfolio ------------------ ------------------ Year Year Year Year Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2013 2012 -------- -------- -------- -------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss).......................................... $ 3,316 $ 3,382 $ 2,333 $ 2,016 Net Realized Gain (Loss) on: Investment Securities Sold.......................................... 839 260 3,779 1,618 Foreign Currency Transactions....................................... (28) (5) (33) 15 Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.......................... 22,926 284 20,645 1,524 Translation of Foreign Currency Denominated Amounts................. 5 (9) 4 (5) -------- -------- -------- -------- Net Increase (Decrease) in Net Assets Resulting from Operations.... 27,058 3,912 26,728 5,168 -------- -------- -------- -------- Distributions From: Net Investment Income............................................... (3,195) (3,413) (2,169) (2,316) Net Long-Term Gains................................................. -- -- (1,449) (2,935) -------- -------- -------- -------- Total Distributions................................................ (3,195) (3,413) (3,618) (5,251) -------- -------- -------- -------- Capital Share Transactions (1): Shares Issued......................................................... 31,167 16,441 33,809 15,941 Shares Issued in Lieu of Cash Distributions........................... 3,195 3,413 3,618 5,251 Shares Redeemed....................................................... (19,474) (14,646) (27,214) (10,295) -------- -------- -------- -------- Net Increase (Decrease) from Capital Share Transactions............ 14,888 5,208 10,213 10,897 -------- -------- -------- -------- Total Increase (Decrease) in Net Assets............................ 38,751 5,707 33,323 10,814 Net Assets Beginning of Year................................................... 99,157 93,450 86,604 75,790 -------- -------- -------- -------- End of Year......................................................... $137,908 $ 99,157 $119,927 $ 86,604 ======== ======== ======== ======== (1) Shares Issued and Redeemed: Shares Issued....................................................... 2,635 1,618 3,051 1,676 Shares Issued in Lieu of Cash Distributions......................... 295 349 364 593 Shares Redeemed..................................................... (1,660) (1,400) (2,495) (1,058) -------- -------- -------- -------- Net Increase (Decrease) from Shares Issued and Redeemed............ 1,270 567 920 1,211 ======== ======== ======== ======== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)..................................................... $ 3,031 $ 2,933 $ 1,857 $ 1,555 See accompanying Notes to Financial Statements. 41 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (Amounts in thousands) DFA VA Global Moderate VA Short-Term VA Global Allocation Fixed Portfolio Bond Portfolio Portfolio ------------------ ------------------ ---------- Period April 8, Year Year Year Year 2013 (a) Ended Ended Ended Ended to Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2013 2012 2013 -------- -------- -------- -------- ---------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)................................ $ 386 $ 475 $ 1,574 $ 2,176 $ 241 Net Realized Gain (Loss) on: Investment Securities Sold................................ 110 258 2,995 2,304 108 Foreign Currency Transactions............................. -- -- (2,051) 95 -- Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency................ (126) 116 (2,110) 884 3,031 Translation of Foreign Currency Denominated Amounts....... -- -- 645 (242) -- -------- -------- -------- -------- ------- Net Increase (Decrease) in Net Assets Resulting from Operations.............................................. 370 849 1,053 5,217 3,380 -------- -------- -------- -------- ------- Distributions From: Net Investment Income..................................... (475) (425) (2,291) (3,526) -- Net Short-Term Gains...................................... (121) (44) (242) (578) -- Net Long-Term Gains....................................... (132) (246) (1,667) (2,075) -- -------- -------- -------- -------- ------- Total Distributions...................................... (728) (715) (4,200) (6,179) -- -------- -------- -------- -------- ------- Capital Share Transactions (1): Shares Issued............................................. 47,780 31,667 57,493 29,099 37,150 Shares Issued in Lieu of Cash Distributions............... 728 715 4,200 6,179 -- Shares Redeemed........................................... (22,284) (35,977) (32,443) (24,338) (47) -------- -------- -------- -------- ------- Net Increase (Decrease) from Capital Share Transactions............................................ 26,224 (3,595) 29,250 10,940 37,103 -------- -------- -------- -------- ------- Total Increase (Decrease) in Net Assets.................. 25,866 (3,461) 26,103 9,978 40,483 Net Assets Beginning of Period....................................... 112,040 115,501 141,190 131,212 -- -------- -------- -------- -------- ------- End of Period............................................. $137,906 $112,040 $167,293 $141,190 $40,483 ======== ======== ======== ======== ======= (1) Shares Issued and Redeemed: Shares Issued............................................... 4,675 3,096 5,272 2,642 3,716 Shares Issued in Lieu of Cash Distributions................. 71 70 385 578 -- Shares Redeemed............................................. (2,181) (3,517) (2,972) (2,222) (5) -------- -------- -------- -------- ------- Net Increase (Decrease) from Shares Issued and Redeemed................................................. 2,565 (351) 2,685 998 3,711 ======== ======== ======== ======== ======= Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)............................. $ 302 $ 391 $ 424 $ 2,589 $ 250 ---------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 42 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (for a share outstanding throughout each period) VA U.S. Targeted Value Portfolio --------------------------------------------- --------- Year Year Year Year Year Year Ended Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2011 2010 2009 2013 ----------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 12.58 $ 10.95 $ 10.40 $ 8.27 $ 8.13 $ 16.90 -------- -------- ------- ------- ------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.19 0.12 0.09 0.07 0.08 0.35 Net Gains (Losses) on Securities (Realized and Unrealized). 5.05 1.60 0.53 2.15 0.24 5.64 -------- -------- ------- ------- ------- -------- Total from Investment Operations.......................... 5.24 1.72 0.62 2.22 0.32 5.99 ----------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.19) (0.09) (0.07) (0.09) (0.14) (0.31) Net Realized Gains......................................... -- -- -- -- (0.04) -- -------- -------- ------- ------- ------- -------- Total Distributions....................................... (0.19) (0.09) (0.07) (0.09) (0.18) (0.31) ----------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 17.63 $ 12.58 $ 10.95 $ 10.40 $ 8.27 $ 22.58 ============================================================= ======== ======== ======== ======== ======== ======== Total Return................................................. 42.19% 15.82% 5.94% 27.00% 4.32% 36.04% ----------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $161,321 $102,845 $88,845 $93,851 $67,307 $200,123 Ratio of Expenses to Average Net Assets...................... 0.39% 0.41% 0.40% 0.42% 0.45% 0.28% Ratio of Net Investment Income to Average Net Assets......... 1.28% 1.00% 0.82% 0.68% 1.11% 1.78% Portfolio Turnover Rate...................................... 15% 21% 14% 32% 19% 29% ----------------------------------------------------------------------------------------------------------------------- VA U.S. Large Value Portfolio -------------------------------------- Year Year Year Year Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2012 2011 2010 2009 ---------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 14.60 $ 14.09 $ 11.94 $ 11.10 -------- -------- -------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.30 0.24 0.25 0.23 Net Gains (Losses) on Securities (Realized and Unrealized). 2.26 0.52 2.12 0.92 -------- -------- -------- ------- Total from Investment Operations.......................... 2.56 0.76 2.37 1.15 ---------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.26) (0.25) (0.22) (0.31) Net Realized Gains......................................... -- -- -- -- -------- -------- -------- ------- Total Distributions....................................... (0.26) (0.25) (0.22) (0.31) ---------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 16.90 $ 14.60 $ 14.09 $ 11.94 ============================================================= ======== ======== ======== ======== Total Return................................................. 17.87% 5.37% 20.08% 11.01% ---------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $151,046 $123,893 $122,672 $99,834 Ratio of Expenses to Average Net Assets...................... 0.30% 0.29% 0.30% 0.33% Ratio of Net Investment Income to Average Net Assets......... 1.92% 1.59% 1.87% 2.24% Portfolio Turnover Rate...................................... 12% 15% 33% 38% ---------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 43 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (for a share outstanding throughout each period) VA International Value Portfolio ---------------------------------------------- Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2011 2010 2009 -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year....................................... $ 10.82 $ 10.87 $ 12.07 $ 11.22 $ 10.20 -------- ------- ------- -------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)....................................... 0.34 0.37 0.37 0.25 0.27 Net Gains (Losses) on Securities (Realized and Unrealized)............. 2.41 (0.02) (1.32) 0.89 2.47 -------- ------- ------- -------- ------- Total from Investment Operations...................................... 2.75 0.35 (0.95) 1.14 2.74 -------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income.................................................. (0.35) (0.40) (0.25) (0.29) (0.54) Net Realized Gains..................................................... -- -- -- -- (1.18) -------- ------- ------- -------- ------- Total Distributions................................................... (0.35) (0.40) (0.25) (0.29) (1.72) -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year............................................. $ 13.22 $ 10.82 $ 10.87 $ 12.07 $ 11.22 ========================================================================= ======== ======== ======== ======== ======== Total Return............................................................. 26.10% 3.57% (8.08)% 10.35% 33.92% -------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)...................................... $137,908 $99,157 $93,450 $103,601 $75,350 Ratio of Expenses to Average Net Assets.................................. 0.47% 0.50% 0.49% 0.50% 0.52% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly). 0.47% 0.50% 0.49% 0.50% 0.52% Ratio of Net Investment Income to Average Net Assets..................... 2.90% 3.56% 3.02% 2.28% 3.03% Portfolio Turnover Rate.................................................. 14% 17% 19% 21% 20% -------------------------------------------------------------------------------------------------------------------------- VA International Small Portfolio --------------------------------------------- Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2011 2010 2009 ------------------------------------------------------------------------------------------------------------------------ Net Asset Value, Beginning of Year....................................... $ 10.02 $ 10.20 $ 10.62 $ 9.20 $ 7.33 -------- ------- ------- ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)....................................... 0.26 0.24 0.25 0.18 0.18 Net Gains (Losses) on Securities (Realized and Unrealized)............. 2.69 0.28 (0.45) 1.42 2.46 -------- ------- ------- ------- ------- Total from Investment Operations...................................... 2.95 0.52 (0.20) 1.60 2.64 ------------------------------------------------------------------------------------------------------------------------ Less Distributions ------------------ Net Investment Income.................................................. (0.25) (0.31) (0.22) (0.18) (0.28) Net Realized Gains..................................................... (0.17) (0.39) -- -- (0.49) -------- ------- ------- ------- ------- Total Distributions................................................... (0.42) (0.70) (0.22) (0.18) (0.77) ------------------------------------------------------------------------------------------------------------------------ Net Asset Value, End of Year............................................. $ 12.55 $ 10.02 $ 10.20 $ 10.62 $ 9.20 ========================================================================= ======== ======== ======== ======== ======== Total Return............................................................. 30.50% 6.05% (2.03)% 17.68% 41.04% ------------------------------------------------------------------------------------------------------------------------ Net Assets, End of Year (thousands)...................................... $119,927 $86,604 $75,790 $78,148 $58,954 Ratio of Expenses to Average Net Assets.................................. 0.65% 0.63% 0.62% 0.63% 0.66% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly). 0.65% 0.63% 0.62% 0.63% 0.66% Ratio of Net Investment Income to Average Net Assets..................... 2.36% 2.51% 2.26% 1.87% 2.41% Portfolio Turnover Rate.................................................. 12% 13% 13% 9% 14% ------------------------------------------------------------------------------------------------------------------------ See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 44 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (for a share outstanding throughout each period) VA Short-Term Fixed Portfolio ---------------------------------------------- Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2011 2010 2009 -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year....................................... $ 10.26 $ 10.25 $ 10.31 $ 10.42 $ 10.34 -------- -------- -------- ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)....................................... 0.03 0.04 0.04 0.06 0.19 Net Gains (Losses) on Securities (Realized and Unrealized)............. -- 0.04 0.01 0.05 0.20 -------- -------- -------- ------- ------- Total from Investment Operations...................................... 0.03 0.08 0.05 0.11 0.39 -------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income.................................................. (0.04) (0.04) (0.06) (0.16) (0.31) Net Realized Gains..................................................... (0.02) (0.03) (0.05) (0.06) -- -------- -------- -------- ------- ------- Total Distributions................................................... (0.06) (0.07) (0.11) (0.22) (0.31) -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year............................................. $ 10.23 $ 10.26 $ 10.25 $ 10.31 $ 10.42 ========================================================================= ======== ======== ======== ======== ======== Total Return............................................................. 0.35% 0.73% 0.42% 1.09% 3.84% -------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)...................................... $137,906 $112,040 $115,501 $89,166 $82,248 Ratio of Expenses to Average Net Assets.................................. 0.29% 0.30% 0.29% 0.30% 0.34% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly). 0.29% 0.30% 0.29% 0.30% 0.34% Ratio of Net Investment Income to Average Net Assets..................... 0.32% 0.42% 0.42% 0.60% 1.85% Portfolio Turnover Rate.................................................. 55% 85% 66% 79% 68% -------------------------------------------------------------------------------------------------------------------------- VA Global Bond Portfolio ----------------------------------------------- Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2011 2010 2009 -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year....................................... $ 11.18 $ 11.28 $ 11.82 $ 11.44 $ 10.97 -------- -------- -------- -------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)....................................... 0.11 0.18 0.23 0.30 0.28 Net Gains (Losses) on Securities (Realized and Unrealized)............. (0.04) 0.25 0.06 0.54 0.57 -------- -------- -------- -------- ------- Total from Investment Operations...................................... 0.07 0.43 0.29 0.84 0.85 -------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income.................................................. (0.18) (0.30) (0.49) (0.46) (0.38) Net Realized Gains..................................................... (0.15) (0.23) (0.34) -- -- -------- -------- -------- -------- ------- Total Distributions................................................... (0.33) (0.53) (0.83) (0.46) (0.38) -------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year............................................. $ 10.92 $ 11.18 $ 11.28 $ 11.82 $ 11.44 ========================================================================= ======== ======== ======== ======== ======== Total Return............................................................. 0.63% 3.97% 2.77% 7.61% 7.93% -------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands)...................................... $167,293 $141,190 $131,212 $107,954 $89,641 Ratio of Expenses to Average Net Assets.................................. 0.27% 0.29% 0.29% 0.31% 0.34% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly). 0.27% 0.29% 0.29% 0.31% 0.34% Ratio of Net Investment Income to Average Net Assets..................... 1.04% 1.61% 2.10% 2.64% 2.51% Portfolio Turnover Rate.................................................. 73% 63% 71% 80% 65% -------------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 45 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (for a share outstanding throughout each period) DFA VA Global Moderate Allocation Portfolio -------------------- Period April 8, 2013 (a) to Oct. 31, 2013 --------------------------------------------------------------------------------- Net Asset Value, Beginning of Period........................ $ 10.00 ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.07 Net Gains (Losses) on Securities (Realized and Unrealized). 0.84 ------- Total from Investment Operations......................... 0.91 --------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... -- ------- Total Distributions...................................... -- --------------------------------------------------------------------------------- Net Asset Value, End of Period.............................. $ 10.91 =========================================================== ==================== Total Return................................................ 9.10%(D) --------------------------------------------------------------------------------- Net Assets, End of Period (thousands)....................... $40,483 Ratio of Expenses to Average Net Assets (B)................. 0.40%(C)(E) Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumptions of Expenses and/or Recovery of Previously Waived Fees) (B)........................................... 0.93%(C)(E) Ratio of Net Investment Income to Average Net Assets........ 1.12%(C)(E) --------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 46 DFA INVESTMENT DIMENSIONS GROUP INC. NOTES TO FINANCIAL STATEMENTS A. Organization: DFA Investment Dimensions Group Inc. (the "Fund") is an open-end management investment company registered under the Investment Company Act of 1940, whose shares are generally offered without a sales charge, to institutional investors, retirement plans and clients of registered investment advisors. The Fund consists of seventy-six operational portfolios, seven of which (the "Portfolios") are included in this report. The remaining sixty-nine are presented in separate reports. The Portfolios are only available through a select group of insurance products. DFA VA Global Moderate Allocation Portfolio invests in eleven portfolios within the Fund. Percentage Ownership at October 31, Fund of Funds 2013 ------------- - -------------- DFA VA Global Moderate Allocation Portfolio U.S. Core Equity 2 Portfolio -- International Core Equity Portfolio -- DFA Selectively Hedged Global Fixed Income Portfolio 1% VA Global Bond Portfolio 3% U.S. Core Equity 1 Portfolio -- Emerging Markets Core Equity Portfolio -- DFA Two-Year Global Fixed Income Portfolio -- VA Short-Term Fixed Portfolio 1% VA U.S. Large Value Portfolio -- VA International Value Portfolio 1% DFA Real Estate Securities Portfolio -- Amounts designated as -- are less than 1%. B. Significant Accounting Policies: The following significant accounting policies are in conformity with accounting principles generally accepted in the United States of America. Such policies are consistently followed by the Fund in preparation of its financial statements. The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the fair value of investments, the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates and those differences could be material. 1. Security Valuation: The Portfolios utilize a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels described below: . Level 1 - inputs are quoted prices in active markets for identical securities (including equity securities, open-end investment companies, futures contracts) . Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) . Level 3 - significant unobservable inputs (including the Portfolios' own assumptions in determining the fair value of investments) Securities held by VA U.S. Targeted Value Portfolio and VA U.S. Large Value Portfolio (the "Domestic Equity Portfolios") and VA International Value Portfolio and VA International Small Portfolio (the "International Equity 47 Portfolios"), including over-the-counter securities, are valued at the last quoted sale price at the close of the exchanges on which they are principally traded (official closing price). International equity securities are subject to a fair value factor, as described later in this note. Securities held by the Domestic Equity Portfolios and the International Equity Portfolios that are listed on Nasdaq are valued at the Nasdaq Official Closing Price ("NOCP"). If there is no last reported sale price or NOCP for the day, the Domestic Equity Portfolios and the International Equity Portfolios value the securities at the mean of the most recent quoted bid and asked prices which approximate fair value. Price information on listed securities is taken from the exchange where the security is primarily traded. Generally, securities issued by open-end investment companies are valued using their respective net asset values or public offering prices, as appropriate, for purchase orders placed at the close of the New York Stock Exchange (NYSE). These securities are generally categorized as Level 1 in the hierarchy. Securities for which no market quotations are readily available (including restricted securities), or for which market quotations have become unreliable, are valued in good faith at fair value in accordance with procedures adopted by the Board of Directors/Trustees. Fair value pricing may also be used if events that have a significant effect on the value of an investment (as determined in the discretion of the Investment Committee of Dimensional Fund Advisors LP) occur before the net asset value is calculated. When fair value pricing is used, the prices of securities used by the Domestic Equity Portfolios and the International Equity Portfolios may differ from the quoted or published prices for the same securities on their primary markets or exchanges. These securities are generally categorized as Level 2 in the hierarchy. The International Equity Portfolios will also apply a fair value price in the circumstances described below. Generally, trading in foreign securities markets is completed each day at various times prior to the close of the NYSE. For example, trading in the Japanese securities markets is completed each day at the close of the Tokyo Stock Exchange (normally, 11:00 p.m. PT), which is fourteen hours prior to the close of the NYSE (normally, 1:00 p.m. PT) and the time that the net asset values of the International Equity Portfolios are computed. Due to the time differences between the closings of the relevant foreign securities exchanges and the time the International Equity Portfolios price their shares at the close of the NYSE, the International Equity Portfolios will fair value their foreign investments when it is determined that the market quotations for the foreign investments are either unreliable or not readily available. The fair value prices will attempt to reflect the impact of the U.S. financial markets' perceptions and trading activities on the International Equity Portfolios' foreign investments since the last closing prices of the foreign investments were calculated on their primary foreign securities markets or exchanges. For these purposes, the Board has determined that movements in relevant indices or other appropriate market indicators, after the close of the Tokyo Stock Exchange or the London Stock Exchange, demonstrate that market quotations may be unreliable. Fair valuation of portfolio securities may occur on a daily basis. The fair value pricing by the International Equity Portfolios utilizes data furnished by an independent pricing service (and that data draws upon, among other information, the market values of foreign investments). When the International Equity Portfolios use fair value pricing, the values assigned to the foreign investments may not be the quoted or published prices of the investments on their primary markets or exchanges. These securities are generally categorized as Level 2 in the hierarchy. Debt securities held by VA Short-Term Fixed Portfolio and VA Global Bond Portfolio (the "Fixed Income Portfolios"), are valued on the basis of evaluated prices provided by one or more pricing services or other reasonably reliable sources including broker/dealers that typically handle the purchase and sale of such securities. Securities which are traded over-the-counter and on a stock exchange generally will be valued according to the broadest and most representative market and it is expected that for bonds and other fixed income securities, this ordinarily will be the over-the-counter market. Securities for which quotations are not readily available (including restricted securities), or for which market quotations have become unreliable, are valued in good faith at fair value in accordance with procedures adopted by the Board. These securities are generally categorized as Level 2 in the hierarchy. Futures contracts held by the Portfolios are valued using the settlement price established each day on the exchange on which they are traded. These valuations are generally categorized as Level 1 in the hierarchy. Over-the-counter derivative contracts, which include forward currency contracts, do not require material subjectivity as pricing inputs are observed from quoted markets and are categorized as Level 2 in the hierarchy. Shares held by the DFA VA Global Moderate Allocation Portfolio of the Master Funds, which are treated as regulated investment companies, and the shares held by the Portfolios in other investment companies, are valued 48 at their respective daily net asset values as reported by their administrator. These securities are generally categorized as Level 1 in the hierarchy. A summary of the inputs used to value the Portfolios' investments by each major security type, industry and/or country is disclosed previously in this note. Valuation hierarchy tables have been included at the end of the Summary Schedule of Portfolio Holdings/Schedule of Investments. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For the year ended October 31, 2013, there were no significant transfers between Level 1 and Level 2 and no Level 3 investments held by the Portfolios. 2. Foreign Currency Translation: Securities and other assets and liabilities of the International Equity Portfolios and VA Global Bond Portfolio whose values are initially expressed in foreign currencies are translated to U.S. dollars using the mean between the most recent bid and asked prices for the U.S. dollar as quoted by generally recognized reliable sources. Dividend and interest income and certain expenses are translated to U.S. dollars at the rate of exchange on their respective accrual dates. Receivables and payables denominated in foreign currencies are marked-to-market daily based on daily exchange rates and exchange gains or losses are realized upon ultimate receipt or disbursement. The VA Global Bond Portfolio also enters into forward currency contracts solely for the purpose of hedging against fluctuations in currency exchange rates. These contracts are marked-to-market daily based on daily forward exchange rates. The International Equity Portfolios do not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of securities whether realized or unrealized. However, the VA Global Bond Portfolio does isolate the effect of fluctuations in foreign currency rates when determining the realized gain or loss upon the sale or maturity of foreign currency denominated debt obligations pursuant to U.S. Federal income tax regulations; such amounts are categorized as foreign exchange gain or loss for income tax reporting purposes. Realized gains or losses on foreign currency transactions represent net foreign exchange gains or losses from the disposition of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between amounts of interest, dividends and any foreign withholding taxes recorded on the books of the International Equity Portfolios and VA Global Bond Portfolio and the U.S. dollar equivalent amounts actually received or paid. 3. Deferred Compensation Plan: Each eligible Director/Trustee of the Fund may elect participation in The Fee Deferral Plan for Independent Directors and Trustees (the "Plan"). Under the Plan, effective January 1, 2002, such Directors/Trustees may defer payment of all or a portion of their total fees earned as a Director/Trustee. These deferred amounts may be treated as though such amounts had been invested in shares of the following funds: U.S. Large Cap Value Portfolio; U.S. Core Equity 1 Portfolio; U.S. Core Equity 2 Portfolio; U.S. Vector Equity Portfolio; U.S. Micro Cap Portfolio; DFA International Value Portfolio; International Core Equity Portfolio; Emerging Markets Portfolio; Emerging Markets Core Equity Portfolio; and/or DFA Two-Year Global Fixed Income Portfolio. Contributions made under the Plan and the change in unrealized appreciation (depreciation) and income are included in Directors'/Trustees' Fees & Expenses. Each Director/Trustee has the option to receive their distribution of proceeds in one of the following methods: lump sum; annual installments over a period of agreed upon years; or quarterly installments over a period of agreed upon years. Each Director/Trustee shall have the right in a notice of election (the "Notice") to defer the receipt of the Director's/Trustee's deferred compensation until a date specified by such Director/Trustee in the Notice, which date may not be sooner than the earlier of: (i) the first business day of January following the year in which such Director/Trustee ceases to be a member of the Board; and (ii) five years following the effective date of the Director's/Trustee's first deferral election. If a Director/Trustee who elects to defer fees fails to designate in the Notice a time or date as of which payment of the Director's/Trustee's deferred fee account shall commence, payment of such amount shall commence as of the first business day of January following the year in which the Director/Trustee ceases to be a member of the Board (unless the Director/Trustee files an amended Notice selecting a different distribution date). As of October 31, 2013, none of the Directors/Trustees have requested or received a distribution of proceeds of a deferred fee account. 49 4. Other: Security transactions are accounted for as of the trade date. Costs used in determining realized gains and losses on the sale of investment securities and foreign currency are on the basis of identified cost. Dividend income and distributions to shareholders are recorded on the ex-dividend date. Distributions received on securities that represent a return of capital or capital gains are recorded as a reduction of cost of investments or as a realized gain, respectively. The Portfolios estimate the character of distributions received that may be considered return of capital distributions. Interest income is recorded on an accrual basis. Discount and premium on debt securities purchased are amortized over the lives of the respective securities, utilizing the effective interest method. Expenses directly attributable to a Portfolio are directly charged. Common expenses of the Fund or Portfolios are allocated using methods approved by the Board, generally based on average net assets. The International Equity Portfolios may be subject to taxes imposed by countries in which they invest, with respect to their investments in issuers existing or operating in such countries. Such taxes are generally based on income earned or repatriated and capital gains realized on the sale of such investments. The International Equity Portfolios accrue such taxes when the related income or capital gains are earned or throughout the holding period. Some countries require governmental approval for the repatriation of investment income, capital or the proceeds of sales earned by foreign investors. In addition, if there is a deterioration in a country's balance of payments or for other reasons, a country may impose temporary restrictions on foreign capital remittances abroad. C. Investment Advisor: The Advisor, Dimensional Fund Advisors LP, provides investment advisory services to the Portfolios. For the year ended October 31, 2013, the Portfolios' investment advisory services fees were accrued daily and paid monthly to the Advisor based on the following effective annual rates of average daily net assets: VA U.S. Targeted Value Portfolio............ 0.35% VA U.S. Large Value Portfolio............... 0.25% VA International Value Portfolio............ 0.40% VA International Small Portfolio............ 0.50% VA Short-Term Fixed Portfolio............... 0.25% VA Global Bond Portfolio.................... 0.23%* DFA VA Global Moderate Allocation Portfolio. 0.25% ---------- * The Portfolio's investment advisory fees are based on an effective annual rate of 0.25% of the first $100 million of average daily net assets and 0.20% of average daily net assets exceeding $100 million. With respect to the DFA VA Global Moderate Allocation Portfolio, pursuant to a Fee Waiver and Expense Assumption Agreement for the Portfolio, the Advisor has agreed to waive all or a portion of its management fee and to assume the expenses of the Institutional Class shares of the Portfolio (including the expenses that the Portfolio bears as a shareholder of its Master Funds but excluding the expenses that the Portfolio incurs indirectly through its investment in unaffiliated investment companies and excluding any applicable 12b-1 fees) ("Portfolio Expenses") to the extent necessary to limit the Portfolio Expenses of the Institutional Class shares of the Portfolio, on an annualized basis, to 0.40% of the average daily net assets of the Institutional Class shares of the Portfolio (the "Expense Limitation Amount"). At any time that the Portfolio Expenses of the Institutional Class shares of the Portfolio are less than the Expense Limitation Amount for such class of shares, the Advisor retains the right to recover any fees previously waived and/or expenses previously assumed to the extent that such recovery will not cause the annualized Portfolio Expenses for such class of shares of the Portfolio to exceed the Expense Limitation Amount. The Fund, on behalf of the Portfolio, is not obligated to reimburse the Advisor for fees previously waived or expenses previously assumed by the Advisor more than thirty-six months before the date of such reimbursement. The Fee Waiver and Expense Assumption Agreement will remain in effect for an initial period until February 28, 2015, and may not be terminated by the Advisor prior to the that date. 50 Earned Income Credit: In addition, the Portfolios have entered into arrangements with their custodian whereby net interest earned on uninvested cash balances was used to reduce a portion of the Portfolios' custody expenses. Custody expense in the accompanying financial statements is presented before reduction for credits. During the year ended October 31, 2013, expenses reduced were as follows (amounts in thousands): Fees Paid Indirectly - ---------- VA International Value Portfolio. $ 1 VA International Small Portfolio. -- VA Global Bond Portfolio......... 2 Fees Paid to Officers and Directors/Trustees: Certain Officers and Directors/Trustees of the Advisor are also Officers and Directors/Trustees of the Fund; however, such Officers and Directors/Trustees (with the exception of the Chief Compliance Officer ("CCO")) receive no compensation from the Fund. For the year ended October 31, 2013, the total related amounts paid by the Fund to the CCO were $250 (in thousands). The total related amounts paid by each of the Portfolios are included in Other Expenses on the Statement of Operations. D. Deferred Compensation: At October 31, 2013, the total liability for deferred compensation to Directors/Trustees is included in Accrued Expenses and Other Liabilities on the Statement of Assets and Liabilities as follows (amounts in thousands): VA U.S. Targeted Value Portfolio............ $ 3 VA U.S. Large Value Portfolio............... 5 VA International Value Portfolio............ 3 VA International Small Portfolio............ 3 VA Short-Term Fixed Portfolio............... 4 VA Global Bond Portfolio.................... 4 DFA VA Global Moderate Allocation Portfolio. -- E. Purchases and Sales of Securities: For the year ended October 31, 2013, the Portfolios made the following purchases and sales of investment securities, other than short-term securities (amounts in thousands): U.S. Government Other Investment Securities Securities ----------------- ----------------- Purchases Sales Purchases Sales --------- ------- --------- ------- VA U.S. Targeted Value Portfolio. -- -- $ 36,930 $18,716 VA U.S. Large Value Portfolio.... -- -- 50,389 49,940 VA International Value Portfolio. -- -- 31,814 15,698 VA International Small Portfolio. -- -- 23,575 12,159 VA Short-Term Fixed Portfolio.... $23,687 $21,134 59,955 38,604 VA Global Bond Portfolio......... 10,073 11,660 125,164 98,061 51 For the year ended October 31, 2013, DFA VA Global Moderate Allocation Portfolio made the following purchases and sales of Affiliated Investment Companies (amounts in thousands): DFA VA Global Moderate Allocation Portfolio --------------------------------------------------------------- Balance at Balance at Dividend Distributions of Affiliated Investment Companies 10/31/2012 10/31/2013 Purchases Sales Income Realized Gains ------------------------------- ---------- ---------- --------- ----- -------- ---------------- U.S. Core Equity 2 Portfolio........... $-- $11,748 $10,845 $731 $ 89 -- International Core Equity Portfolio.... -- 6,433 5,991 325 115 -- VA Global Bond Portfolio............... -- 5,030 5,038 -- -- -- DFA Selectively Hedged Global Fixed Income Portfolio..................... -- 4,967 5,014 -- -- -- U.S. Core Equity 1 Portfolio........... -- 4,221 3,857 200 32 -- Emerging Markets Core Equity Portfolio. -- 2,096 2,079 -- 27 -- DFA Two-Year Global Fixed Income Portfolio............................ -- 1,985 1,985 -- 4 -- VA Short-Term Fixed Portfolio.......... -- 1,983 1,981 -- -- -- VA U.S. Large Value Portfolio.......... -- 873 751 -- -- -- VA International Value Portfolio....... -- 764 656 -- -- -- DFA Real Estate Securities Portfolio... -- 353 372 -- 4 -- F. Federal Income Taxes: Each Portfolio has qualified and intends to continue to qualify as a regulated investment company under Sub-chapter M of the Internal Revenue Code for federal income tax purposes and to distribute substantially all of its taxable income and net capital gains to shareholders. Accordingly, no provision has been made for federal income taxes. Distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from those amounts determined under accounting principles generally accepted in the United States of America. These book/tax differences are either temporary or permanent in nature. To the extent these differences are permanent, they are charged or credited to paid-in capital, undistributed net investment income or accumulated net realized gains or losses, as appropriate, in the period that the differences arise. Accordingly, the following permanent differences as of October 31, 2013, primarily attributable to realized gains on securities considered to be "passive foreign investment companies" and net foreign currency gains/losses, were reclassified to the following accounts. These reclassifications had no effect on net assets or net asset value per share (amounts in thousands): Increase Increase (Decrease) (Decrease) Increase Undistributed Accumulated (Decrease) Net Investment Net Realized Paid-In Capital Income Gains (Losses) --------------- -------------- -------------- VA U.S. Targeted Value Portfolio............ -- $ 7 $ (7) VA U.S. Large Value Portfolio............... -- -- -- VA International Value Portfolio............ -- (23) 23 VA International Small Portfolio............ -- 138 (138) VA Short-Term Fixed Portfolio............... -- -- -- VA Global Bond Portfolio.................... -- (1,448) 1,448 DFA VA Global Moderate Allocation Portfolio. $(9) 9 -- 52 The tax character of dividends and distributions declared and paid during the years ended October 31, 2012 and October 31, 2013 were as follows (amounts in thousands): Net Investment Income and Short-Term Long-Term Capital Gains Capital Gains Total -------------- ------------- ------ VA U.S. Targeted Value Portfolio 2012........................................ $ 709 $ 709 2013........................................ 1,513 -- 1,513 VA U.S. Large Value Portfolio 2012........................................ 2,165 2,165 2013........................................ 2,749 -- 2,749 VA International Value Portfolio 2012........................................ 3,413 3,413 2013........................................ 3,195 -- 3,195 VA International Small Portfolio 2012........................................ 2,316 $2,935 5,251 2013........................................ 2,169 1,449 3,618 VA Short-Term Fixed Portfolio 2012........................................ 469 246 715 2013........................................ 596 132 728 VA Global Bond Portfolio 2012........................................ 4,104 2,075 6,179 2013........................................ 2,533 1,667 4,200 DFA VA Global Moderate Allocation Portfolio 2013........................................ -- -- -- DFA VA Global Moderate Allocation Portfolio commenced operations on April 8, 2013, and did not pay any distributions for the years ended October 31, 2012 and October 31, 2013. At October 31, 2013, the components of distributable earnings (accumulated losses) were as follows (amounts in thousands): Undistributed Total Net Net Investment Distributable Income and Undistributed Unrealized Earnings Short-Term Long-Term Capital Loss Appreciation (Accumulated Capital Gains Capital Gains Carryfoward (Depreciation) Losses) -------------- ------------- ------------ -------------- ------------- VA U.S. Targeted Value Portfolio.. $ 914 -- $(4,181) $39,145 $35,878 VA U.S. Large Value Portfolio..... 2,420 $16,659 -- 52,485 71,564 VA International Value Portfolio.. 3,054 -- (2,412) 9,367 10,009 VA International Small Portfolio.. 3,297 2,784 -- 14,866 20,947 VA Short-Term Fixed Portfolio..... 377 29 -- 177 583 VA Global Bond Portfolio.......... 777 2,063 -- 1,694 4,534 DFA VA Global Moderate Allocation Portfolio....................... 358 -- -- 3,032 3,390 For federal income tax purposes, the Fund measures its capital loss carryforwards annually at October 31, its fiscal year end. Capital loss carryforwards may be carried forward and applied against future capital gains. Under the Regulated Investment Company Modernization Act of 2010, capital losses incurred by these Portfolios after October 31, 2011 will not be subject to expiration and will retain their character as either short-term or long-term capital losses. In addition, such losses must be utilized prior to the losses incurred in the years preceding 53 enactment. As of October 31, 2013, the Portfolios had the following capital loss carryforwards available to offset future capital gains through the indicated expiration dates (amounts in thousands): Expires on October 31, ---------------------- 2016 2017 2018 Total ------ ------ ------ ------ VA U.S. Targeted Value Portfolio. -- $1,685 $2,496 $4,181 VA U.S. Large Value Portfolio.... -- -- -- -- VA International Value Portfolio. $2,412 -- -- 2,412 During the year ended October 31, 2013, the Portfolios utilized the following capital loss carryforwards to offset realized capital gains for federal income tax purposes (amounts in thousands): VA U.S. Targeted Value Portfolio. $8,112 VA U.S. Large Value Portfolio.... 2,723 VA International Value Portfolio. 837 At October 31, 2013, the total cost and aggregate gross unrealized appreciation and (depreciation) of securities for federal income tax purposes were different from amounts reported for financial reporting purposes (amounts in thousands): Net Unrealized Federal Unrealized Unrealized Appreciation Tax Cost Appreciation Depreciation (Depreciation) -------- ------------ ------------ -------------- VA U.S. Targeted Value Portfolio............ $201,992 $48,861 $ (9,715) $39,145 VA U.S. Large Value Portfolio............... 167,399 58,658 (6,173) 52,485 VA International Value Portfolio............ 137,953 23,935 (14,571) 9,364 VA International Small Portfolio............ 120,515 32,365 (17,502) 14,863 VA Short-Term Fixed Portfolio............... 143,580 189 (13) 177 VA Global Bond Portfolio.................... 179,393 2,191 (522) 1,669 DFA VA Global Moderate Allocation Portfolio. 37,445 3,107 (75) 3,032 The difference between book basis and tax-basis unrealized appreciation (depreciation) is primarily attributable to the tax deferral of losses on wash sales and investments in passive foreign investment companies. Accounting for Uncertainty in Income Taxes sets forth a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken on a tax return. Management has analyzed the Portfolios' tax positions and has concluded that no additional provision for income tax is required in any Portfolios' financial statements. The Portfolios are not aware of any tax positions for which it is more likely than not that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. The Portfolios' federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service. G. Financial Instruments: In accordance with the Portfolios' investment objectives and policies, the Portfolios may invest in certain financial instruments that have off-balance sheet risk in excess of the amounts recognized in the financial statements and concentrations of credit and market risk. These instruments and their significant corresponding risks are described below: 1. Repurchase Agreements: The Portfolios may purchase certain U.S. Government securities subject to the counterparty's agreement to repurchase them at an agreed upon date and price. The counterparty will be required on a daily basis to maintain the value of the collateral subject to the agreement at not less than the repurchase price (including accrued interest). The agreements are conditioned upon the collateral being deposited under the Federal Reserve book-entry system with the Portfolios' custodian or a third party sub-custodian. In the event of default or bankruptcy by the other party to the agreement, retention of the collateral may be subject to legal proceedings. 54 2. Foreign Market Risks: Investments in foreign markets may involve certain considerations and risks not typically associated with investments in the United States of America, including the possibility of future political and economic developments and the level of foreign governmental supervision and regulation of foreign securities markets. These markets are generally smaller, less liquid and more volatile than the major securities markets in the United States of America. Consequently, acquisition and disposition of securities held by the Portfolios may be inhibited. Derivative Financial Instruments: Summarized below are the specific types of derivative instruments used by the Portfolios. 3. Forward Currency Contracts: The International Equity Portfolios may enter into forward currency contracts in connection with the purchase or sale of foreign equity securities, typically to "lock in" the value of the transaction with respect to a different currency. In addition, the International Equity Portfolios may, from time to time, enter into forward currency contracts to transfer balances from one currency to another currency. The VA Global Bond Portfolio may enter into forward currency contracts only to hedge against adverse changes in the relationship of the U.S. dollar to foreign currencies (foreign exchange rate risk) or to transfer balances from one currency to another currency. The decision to hedge a Portfolio's currency exposure with respect to a foreign market will be based primarily on the Portfolio's existing exposure to a given foreign currency. Each contract is valued daily and the change in value is recorded by the Portfolio as an unrealized gain or loss, which is presented in the Statements of Operations as the change in unrealized appreciation or depreciation from translation of foreign currency denominated amounts. When the contract is closed or offset with the same counterparty, the Portfolio records a realized gain or loss equal to the change in the value of the contract when it was opened and the value at the time it was closed or offset. This is presented in the Statements of Operations as a net realized gain or loss on foreign currency transactions. At October 31, 2013, the VA Global Bond Portfolio had entered into the following contracts and the net unrealized foreign exchange gain (loss) is reflected in the accompanying financial statements (amounts in thousands): VA Global Bond Portfolio* Unrealized Foreign Settlement Currency Contract Value at Exchange Date Amount** Currency Amount October 31, 2013 Gain (Loss) ---------- -------- ------------------ -------- ---------------- ----------- 11/25/13 (22,679) Denmark Krone $ (4,156) $ (4,129) $ 27 11/22/13 (16,933) Euro (23,116) (22,992) 124 11/13/13 (2,191) New Zealand Dollar (1,844) (1,810) 34 11/18/13 (2,949) Singapore Dollar (2,365) (2,374) (9) 11/21/13 (14,424) UK Pound Sterling (22,979) (23,124) (145) -------- -------- ----- $(54,460) $(54,429) $ 31 ======== ======== ===== * During the year ended October 31, 2013, the VA Global Bond Portfolio's average contract amount of forward currency contracts was $54,777 (in thousands): **Positive Currency Amount represents a purchase contract and a Currency Amount in parentheses represents a sale contract. Risks may arise upon entering into these contracts from the potential inability of counterparties to meet the terms of their contracts and from unanticipated movements in the value of foreign currency relative to the U.S. dollar and are generally limited to unrealized appreciation, if any, on the contracts. 4. Futures Contracts: The Portfolios (except the VA Short-Term Fixed Portfolio) may enter into futures contracts to gain market exposure on uninvested cash pending investment in securities or to maintain liquidity to pay redemptions. Upon entering into a futures contract, the Portfolios deposit cash or pledge U.S. Government securities to a broker, equal to the minimum "initial margin" requirements of the exchange on which the contract is traded. Subsequent payments are received from or paid to the broker each day, based on the daily fluctuation in the market value of the contract. These receipts or payments are known as "variation margin" and are recorded daily by the Portfolios as unrealized gains or losses until the contracts are closed. When the contracts are closed, 55 the Portfolios record a realized gain or loss, which is presented in the Statements of Operations as a net realized gain or loss on futures, equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. Risks may arise upon entering into futures contracts from potential imperfect price correlations between the futures contracts and the underlying securities or indices, from the possibility of an illiquid secondary market for these instruments and from the possibility that the Portfolio could lose more than the initial margin requirements. The Portfolios entering into stock index futures are subject to equity price risk from those futures contracts. Counterparty credit risk related to exchange-traded futures is minimal because the exchange's clearinghouse, as counterparty to all exchange-traded futures, guarantees the futures against default. The following is a summary of the VA Global Bond Portfolio's location and value of derivative instrument holdings on the VA Global Bond Portfolio's Statements of Assets and Liabilities categorized by primary risk exposure as of October 31, 2013 (amounts in thousands): Asset Derivatives Value ------------------------ Location on the Statements of Assets and Foreign Exchange Liabilities Contracts ------------------------ ------------------------ VA Global Bond Portfolio Unrealized Gain on $185 Forward Currency Contracts Liability Derivatives Value ------------------------ Location on the Statements of Assets and Foreign Exchange Liabilities Contracts ------------------------ ------------------------ VA Global Bond Portfolio Unrealized Loss on $(154) Forward Currency Contracts The following is a summary of the location of realized and change in unrealized gains and losses on the VA Global Bond Portfolio's Statements of Operations for the VA Global Bond Portfolio's derivative instrument holdings through the year ended October 31, 2013: Derivative Type Location of Gain (Loss) on Derivatives Recognized in Income --------------- ----------------------------------------------------------- Foreign exchange contracts Net Realized Gain (Loss) on: Foreign Currency Transactions Change in Unrealized Appreciation (Depreciation) of: Translation of Foreign Currency Denominated Amounts The following is a summary of the realized and change in unrealized gains and losses from the VA Global Bond Portfolio's and VA U.S. Targeted Value Portfolio's derivative instrument holdings categorized by primary risk exposure through the year ended October 31, 2013 (amounts in thousands): Realized Gain (Loss) on Derivatives Recognized in Income -------------------------------- Foreign Exchange Equity Contracts Contracts --------- --------- VA Global Bond Portfolio.......... $(2,020) -- VA U.S. Targeted Value Portfolio*. -- $14 Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income -------------------------------- Foreign Exchange Contracts -------------------------------- VA Global Bond Portfolio.......... $641 * As of October 31, 2013, there were no futures contracts outstanding. During the year ended October 31, 2013, the Portfolio had limited activity in futures contracts. 56 H. Line of Credit: The Fund, together with other Dimensional-advised portfolios, entered into a $250 million unsecured discretionary line of credit effective June 22, 2011 with The Bank of New York Mellon, which was terminated by The Bank of New York Mellon effective March 29, 2013. Prior to termination, each portfolio was permitted to borrow, subject to its investment limitations, up to a maximum of $250 million, as long as total borrowings under the line of credit did not exceed $250 million in the aggregate. Borrowings under the line of credit were charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio was individually, and not jointly, liable for its particular advances under the line of credit. There was no commitment fee on the unused portion of the line of credit. The Fund, together with other Dimensional-advised portfolios, has entered into a $500 million unsecured discretionary line of credit effective March 4, 2013 with its domestic custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. There is no commitment fee on the unused portion of the line of credit. The agreement for the discretionary line of credit may be terminated by either party at any time. The line of credit is scheduled to expire on March 3, 2014. The Fund, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit effective January 11, 2013 with its international custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. There is no commitment fee on the unused portion of the line of credit. The agreement for the line of credit expires on January 10, 2014. For the year ended October 31, 2013, borrowings by the Portfolios under the lines of credit were as follows (amounts in thousands, except percentages and days): Weighted Weighted Number of Interest Maximum Amount Average Average Days Expense Borrowed During Interest Rate Loan Balance Outstanding* Incurred The Period ------------- ------------ ------------ -------- --------------- VA U.S. Targeted Value Portfolio............ 0.90% $ 594 19 -- $ 1,876 VA U.S. Large Value Portfolio............... 0.86% 1,124 59 $ 2 10,371 VA International Value Portfolio............ 0.88% 223 45 -- 1,111 VA International Small Portfolio............ 0.88% 417 91 1 1,777 VA Short-Term Fixed Portfolio............... 0.83% 513 1 -- 513 DFA VA Global Moderate Allocation Portfolio. 0.89% 10 5 -- 26 * Number of Days Outstanding represents the total of single or consecutive days during the year ended October 31, 2013, that each Portfolio's available line of credit was utilized. At October 31, 2013 only the VA Short-Term Fixed Portfolio had outstanding borrowings under the lines of credit of $513 (in thousands). I. Securities Lending: As of October 31, 2013, some of the Portfolios had securities on loan to brokers/dealers, for which each such Portfolio received cash collateral. In addition, the following Portfolios received non-cash collateral consisting of short term and/or long term U.S. Treasury securities (amounts in thousands): Market Value ------------ VA International Value Portfolio. $914 VA International Small Portfolio. 827 57 Each Portfolio with securities on loan invests the cash collateral, as described below, and records a liability for the return of the collateral, during the period the securities are on loan. Loans of securities are expected at all times to be secured by collateral equal to at least (i) 100% of the current market value of the loaned securities with respect to securities of the U.S. government or its agencies, (ii) 102% of the current market value of the loaned securities with respect to U.S. securities, and (iii) 105% of the current market value of the loaned securities with respect to foreign securities. However, daily market fluctuations could cause the Portfolios' collateral to be lower or higher than the expected thresholds. If this were to occur, the collateral would be adjusted the next business day to ensure adequate collateralization. In the event of default or bankruptcy by the other party to the agreement, realization and/or retention of the collateral may be subject to legal proceedings. If the borrower fails to return loaned securities, and cash collateral being maintained by the borrower is insufficient to cover the value of loaned securities and provided such collateral insufficiency is not the result of investment losses, the lending agent has agreed to pay the amount of the shortfall to the Portfolio or, at the option of the lending agent, to replace the securities. Subject to their stated investment policies, the Portfolios with securities on loan will generally invest the cash collateral received for the loaned securities in The DFA Short Term Investment Fund (the "Money Market Series"), an affiliated registered money market fund advised by the Advisor for which the Advisor receives a management fee of 0.05% of the average daily net assets of the Money Market Series. Such Portfolios also may invest the cash collateral received for the loaned securities in securities of the U.S. government or its agencies, repurchase agreements collateralized by securities of the U.S. government or its agencies, and affiliated and unaffiliated registered and unregistered money market funds. For purposes of this paragraph, agencies include both agency debentures and agency mortgage-backed securities. In addition, each Portfolio with securities on loan will be able to terminate the loan at any time and will receive reasonable interest on the loan, as well as amounts equal to any dividends, interest or other distributions on the loaned securities. However, dividend income received from loaned securities may not be eligible to be taxed at qualified dividend income rates. J. Indemnitees; Contractual Obligations: Under the Fund's organizational documents, its officers and directors are indemnified against certain liabilities arising out of the performance of their duties to the Fund. In the normal course of business, the Fund enters into contracts that contain a variety of representations and warranties which provide general indemnification. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund and/or its affiliates that have not yet occurred. However, based on experience, the Fund expects the risk of loss to be remote. K. Recently Issued Accounting Standards: In December 2011, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") No. 2011-11 "Disclosures about Offsetting Assets and Liabilities" requiring disclosure of both gross and net information related to offsetting and related arrangements enabling users of its financial statements to understand the effect of those arrangements on the entity's financial position. The objective of this disclosure is to facilitate comparison between those entities that prepare their financial statements on the basis of U.S. Generally Accepted Accounting Principles and those entities that prepare their financial statements on the basis of International Financial Reporting Standards. ASU No. 2011-11 is effective for annual periods beginning on or after January 1, 2013, and interim periods within those annual periods. Management is evaluating any impact ASU No. 2011-11 may have on the financial statements. In January 2013, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") No. 2013-01 "Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities" ("ASU 2013-01") which amended Accounting Standards Codification Subtopic 210-20, Balance Sheet Offsetting. ASU 2013-01 clarified the scope of ASU No. 2011-11 "Disclosures about Offsetting Assets and Liabilities" ("ASU 2011-11"). ASU 2011-11 requires an entity to disclose information about offsetting and related arrangements to enable users of that entity's financial statements to understand the effect of those arrangements on its financial position. ASU 2013-01 clarifies the scope of ASU 2011-11 as applying to derivatives accounted for in accordance with Topic 815, Derivatives and Hedging, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are offset either in accordance with other requirements of GAAP or subject to an enforceable master netting arrangement or similar agreement. ASU No. 2011-11 is effective for annual periods beginning on or after January 1, 2013, and interim periods within those annual periods. Management is evaluating any impact ASU No. 2011-11 may have on the financial statements. 58 L. Other: At October 31, 2013, the following number of shareholders held the following approximate percentages of the stated fund outstanding shares. One or more of the shareholders may be omnibus accounts, which typically hold shares for the benefit of several other underlying investors. Approximate Percentage Number of of Outstanding Shareholders Shares ------------ -------------- VA U.S. Targeted Value Portfolio............ 5 88% VA U.S. Large Value Portfolio............... 3 84% VA International Value Portfolio............ 4 85% VA International Small Portfolio............ 5 82% VA Short-Term Fixed Portfolio............... 3 89% VA Global Bond Portfolio.................... 3 89% DFA VA Global Moderate Allocation Portfolio. 2 100% The Portfolios are subject to claims and suits that arise from time to time in the ordinary course of business (for example, in The Tribune Company Bankruptcy, certain creditors have filed actions against all shareholders of The Tribune Company who tendered shares when the Tribune Company went private in 2007 in a leveraged buyout transaction, seeking the return of proceeds received by the shareholders). Although management currently believes that resolving claims against us, individually or in aggregate, will not have a material adverse impact on our financial position, our results of operations, or our cash flows, these matters are subject to inherent uncertainties and management's view of these matters may change in the future. The VA U.S. Large Value Portfolio has been named as a defendant in a multi-district litigation pending in the United States District Court for the Southern District of New York (the "Court"), captioned In re Tribune Company Fraudulent Conveyance Litigation, No. 11-MD-2296-RJS (the "Tribune MDL"). The Tribune MDL arises from the 2007 leveraged buyout of The Tribune Company ("Tribune") (the "LBO") and Tribune's subsequent bankruptcy and reorganization. In connection with the LBO, thousands of Tribune shareholders, including the VA U.S. Large Value Portfolio, sold Tribune shares back to Tribune for $34 per share. The Tribune MDL includes a series of lawsuits brought by individual creditors of Tribune (the "Individual Creditor Actions") and a lawsuit brought by a court-appointed trustee on behalf of the committee of unsecured creditors of Tribune (the "Committee Action," and with the Individual Creditor Actions, collectively referred to as the "Lawsuits"). The Lawsuits seek to unwind the LBO stock repurchases as fraudulent transfers and recover the stock repurchase proceeds paid to the Tribune shareholders who participated in the LBO. On September 23, 2013, the Court entered an order dismissing the Individual Creditor Actions in their entirety on the grounds that the individual creditor plaintiffs lack standing to pursue their claims. The Court's dismissal order is on appeal to the Second Circuit. The Committee Action remains pending, and the Court currently is coordinating with the parties to establish a schedule for motions to dismiss in the Committee Action. Litigation counsel to the VA U.S. Large Value Portfolio in the Lawsuits does not believe that it is possible, at this early stage in the proceedings, to predict with any reasonable certainty the probable outcome of the Lawsuits or quantify the ultimate exposure to the VA U.S. Large Value Portfolio arising from the Lawsuits. Until the VA U.S. Large Value Portfolio can do so, no reduction of the net asset value of the VA U.S. Large Value Portfolio will be made relating to the Lawsuits. However, even if the plaintiffs in the Lawsuits were to obtain the full recovery the plaintiffs seek, the amount would be less than 1% of the VA U.S. Large Value Portfolio's net asset value at this time. The VA U.S. Large Value Portfolio also cannot predict what its size might be at the time the cost of the Lawsuits might be quantifiable and thus potentially deducted from its net asset value. Therefore, at this time, those investors buying or redeeming shares of the VA U.S. Large Value Portfolio will pay or receive, as the case may be, a price based on the net asset value of the VA U.S. Large Value Portfolio, with no adjustment relating to the Lawsuits. The attorneys' fees and costs relating to the Lawsuits will be taken as expenses by the VA U.S. Large Value Portfolio as incurred and in a manner similar to any other expense incurred by the VA U.S. Large Value Portfolio. M. Subsequent Event Evaluations: Management has evaluated the impact of all subsequent events on the Portfolios and has determined that there are no subsequent events requiring recognition or disclosure in the financial statements. 59 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Shareholders of the Portfolios, as defined, and Board of Directors of DFA Investment Dimensions Group Inc.: In our opinion, the accompanying statements of assets and liabilities, including the schedules of investments/summary schedules of portfolio holdings, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of VA U.S. Targeted Value Portfolio, VA U.S. Large Value Portfolio, VA International Value Portfolio, VA International Small Portfolio, VA Short-Term Fixed Portfolio, VA Global Bond Portfolio, and DFA VA Global Moderate Allocation Portfolio (constituting portfolios within DFA Investment Dimensions Group Inc., hereafter referred to as the "Portfolios") at October 31, 2013, the results of each of their operations for the periods then ended, the changes in each of their net assets and the financial highlights for each of the periods indicated, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as "financial statements") are the responsibility of the Portfolios' 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, 2013 by correspondence with the custodians, brokers, and the transfer agents of the investee funds, provide a reasonable basis for our opinion. PricewaterhouseCoopers LLP Philadelphia, Pennsylvania December 20, 2013 60 FUND MANAGEMENT (Unaudited) Trustees/Directors Each Board of Trustees/Directors (each, the "Board" and collectively, the "Boards") of The DFA Investment Trust Company ("DFAITC"), DFA Investment Dimensions Group Inc. ("DFAIDG"), Dimensional Investment Group Inc. ("DIG") and Dimensional Emerging Markets Value Fund ("DEM") (each, the "Fund" and collectively, the "Funds") is responsible for establishing the Funds' policies and for overseeing the management of the Funds. The Trustees/Directors of the Funds, including all of the disinterested Trustees/Directors, have adopted written procedures to monitor potential conflicts of interest that might develop between portfolios of the Funds (the "Feeder Portfolios") that invest in certain series of DFAITC or DEM (the "Master Funds"). Each Board has three standing committees, an Audit Committee, a Nominating Committee, and an Investment Review Committee (the "Review Committee"). The Audit Committee is comprised of George M. Constantinides, Roger G. Ibbotson and Abbie J. Smith. Each member of the Audit Committee is a disinterested Trustee/Director. The Audit Committee oversees the Fund's accounting and financial reporting policies and practices, the Fund's internal controls, the Fund's financial statements and the independent audits thereof and performs other oversight functions as requested by the Board. The Audit Committee recommends the appointment of each Fund's independent registered certified public accounting firm and also acts as a liaison between the Fund's independent registered certified public accounting firm and the full Board. There were two Audit Committee meetings held during the fiscal year ended October 31, 2013. Each Board's Nominating Committee is comprised of George M. Constantinides, John P. Gould, Roger G. Ibbotson, Myron S. Scholes, Edward P. Lazear and Abbie J. Smith. Each member of the Nominating Committee is a disinterested Trustee/Director. The Nominating Committee for each Board makes recommendations for nominations of disinterested and interested members on the Board to the full Board. The Nominating Committee evaluates a candidate's qualification for Board membership and the independence of such candidate from the Advisor and other principal service providers. There was one Nominating Committee meeting held during the fiscal year ended October 31, 2013. Each Board's Review Committee consists of both interested and disinterested Trustees/Directors. The Review Committee is comprised of John P. Gould, Edward P. Lazear, Myron S. Scholes and Eduardo A. Repetto. The Review Committee assists the Board in carrying out its fiduciary duties with respect to the oversight of the Fund and its performance. At the request of the Board or the Advisor, the Review Committee may (i) review the design of possible new series of the Fund, (ii) review performance of existing portfolios of the Fund and discuss and recommend possible enhancements to the portfolios' investment strategies, (iii) review proposals by the Advisor to modify or enhance the investment strategies or policies of each portfolio, and (iv) consider issues relating to investment services for each portfolio of the Fund. The Review Committee was formed on December 17, 2010, and there were two Review Committee meetings held during the fiscal year ended October 31, 2013. Certain biographical information for each disinterested Trustee/Director and each interested Trustee/Director of the Funds is set forth in the tables below, including a description of each Trustee/Director's experience as a Trustee/ Director of the Funds and as a director or trustee of other funds, as well as other recent professional experience. The statements of additional information (together, "SAI") of the Funds include additional information about each Trustee/Director. You may obtain copies of the SAI and prospectus of each Fund advised by Dimensional Fund Advisors LP by calling collect (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746. Prospectuses are also available at www.dimensional.com. 61 Name, Position Portfolios within the Principal Occupation(s) During Past 5 Years with the Fund, Term of Office/1/ and DFA Fund Complex/2/ and Other Directorships of Public Companies Address and Year of Birth Length of Service Overseen Held ------------------------------------------------------------------------------------------------------------------------------ Disinterested Trustees/Directors ------------------------------------------------------------------------------------------------------------------------------ George M. Constantinides Since Inception 106 portfolios in 4 Leo Melamed Professor of Finance, The Director of DFAIDG and DIG. investment companies University of Chicago Booth School of Business. Trustee of DFAITC and DEM. The University of Chicago Booth School of Business 5807 S. Woodlawn Avenue Chicago, IL 60637 1947 ------------------------------------------------------------------------------------------------------------------------------ John P. Gould Since Inception 106 portfolios in 4 Steven G. Rothmeier Distinguished Service Director of DFAIDG and DIG. investment companies Professor of Economics, The University of Trustee of DFAITC and DEM. Chicago Booth School of Business (since 1965). The University of Chicago Member and Chair, Competitive Markets Advisory Booth School of Business Committee, Chicago Mercantile Exchange 5807 S. Woodlawn Avenue (futures trading exchange) (since 2004). Formerly, Chicago, IL 60637 Director of UNext, Inc. (1999-2006). Trustee, 1939 Harbor Fund (registered investment company) (30 Portfolios) (since 1994). Formerly, Member of the Board of Milwaukee Mutual Insurance Company (1997-2010). ------------------------------------------------------------------------------------------------------------------------------ Roger G. Ibbotson Since Inception 106 portfolios in 4 Professor in Practice of Finance, Yale School of Director of DFAIDG and DIG. investment companies Management (since 1984). Chairman, CIO and Trustee of DFAITC and DEM. Partner, Zebra Capital Management, LLC (hedge Yale School of Management fund manager) (since 2001). Consultant to P.O. Box 208200 Morningstar, Inc. (since 2006). Formerly, New Haven, CT 06520-8200 Chairman, Ibbotson Associates, Inc., Chicago, IL 1943 (software data publishing and consulting) (1977- 2006). Formerly, Director, BIRR Portfolio Analysis, Inc. (software products) (1990-2010). ------------------------------------------------------------------------------------------------------------------------------ Edward P. Lazear Since Inception 106 portfolios in 4 Morris Arnold Cox Senior Fellow, Hoover Director of DFAIDG and DIG. investment companies Institution (since 2002). Jack Steele Parker Trustee of DFAITC and DEM. Professor of Human Resources Management and Stanford University Economics, Graduate School of Business, Graduate School of Business Stanford University (since 1995). Cornerstone 518 Memorial Way Research (expert testimony and economic and Stanford, CA 94305-5015 financial analysis) (since 2009). Formerly, 1948 Chairman of the President George W. Bush's Council of Economic Advisers (2006-2009). Formerly, Council of Economic Advisors, State of California (2005-2006). Formerly, Commissioner, White House Panel on Tax Reform (2005). ------------------------------------------------------------------------------------------------------------------------------ Myron S. Scholes Since Inception 106 portfolios in 4 Frank E. Buck Professor Emeritus of Finance, Director of DFAIDG and DIG. investment companies Stanford University (since 1981). Formerly, Trustee of DFAITC and DEM. Chairman, Platinum Grove Asset Management, c/o Dimensional Fund L.P. (hedge fund) (formerly, Oak Hill Platinum Advisors, LP Partners) (1999-2009). Formerly, Managing 6300 Bee Cave Road Partner, Oak Hill Capital Management (private Building 1 equity firm) (until 2004). Director, American Austin, TX 78746 Century Fund Complex (registered investment 1941 companies) (40 Portfolios) (since 1980). Formerly, Director, Chicago Mercantile Exchange (2001- 2008). ------------------------------------------------------------------------------------------------------------------------------ Abbie J. Smith Since Inception 106 portfolios in 4 Boris and Irene Stern Distinguished Service Director of DFAIDG and DIG. investment companies Professor of Accounting, The University of Trustee of DFAITC and DEM. Chicago Booth School of Business (since 1980). The University of Chicago Co-Director Investment Research, Fundamental Booth School of Business Investment Advisors (hedge fund) (since 2008). 5807 S. Woodlawn Avenue Director, HNI Corporation (formerly known as Chicago, IL 60637 HON Industries Inc.) (office furniture) (since 1953 2000). Director, Ryder System Inc. (transportation, logistics and supply-chain management) (since 2003). Trustee, UBS Funds (4 investment companies within the fund complex) (52 portfolios) (since 2009). 62 Name, Position Portfolios within the with the Fund, Term of Office/1/ and DFA Fund Complex/2/ Principal Occupation(s) During Past 5 Years and Address and Year of Birth Length of Service Overseen Other Directorships of Public Companies Held --------------------------------------------------------------------------------------------------------------------------------- Interested Trustees/Directors* --------------------------------------------------------------------------------------------------------------------------------- David G. Booth Since Inception 106 portfolios in 4 Chairman, Director/Trustee, President, and Co-Chief Chairman, Director, investment companies Executive Officer (since January 2010) of Co-Chief Executive Officer Dimensional Holdings Inc., Dimensional Fund and President of DFAIDG Advisors LP, DFA Securities LLC, DEM, DFAIDG, and DIG. Chairman, DIG and DFAITC. Director of Dimensional Fund Trustee, Co-Chief Advisors Ltd., Dimensional Funds PLC, Dimensional Executive Officer and Funds II PLC, DFA Australia Limited, Dimensional President of DFAITC and Cayman Commodity Fund I Ltd., Dimensional Japan DEM. Ltd. and Dimensional Advisors Ltd. Chairman, 6300 Bee Cave Road, Director and Co-Chief Executive Officer of Building One Dimensional Fund Advisors Canada ULC. President, Austin, Texas 78746 Dimensional SmartNest (US) LLC. Limited Partner, 1946 Oak Hill Partners (since 2001) and VSC Investors, LLC (since 2007). Trustee, The University of Chicago. Trustee, University of Kansas Endowment Association. Formerly, Chief Executive Officer (until 2010) and Chief Investment Officer (2003-2007) of Dimensional Fund Advisors LP, DFA Securities LLC, DEM, DFAIDG, DIG , DFAITC, Dimensional Holdings Inc. Formerly, Chief Investment Officer of Dimensional Fund Advisors Ltd. Formerly, President and Chief Investment Officer of DFA Australia Limited. Formerly, Director, SA Funds (registered investment company). --------------------------------------------------------------------------------------------------------------------------------- Eduardo A. Repetto Since 2009 106 portfolios in 4 Co-Chief Executive Officer (since January 2010), Director, Co-Chief investment companies Chief Investment Officer (since March 2007) and Executive Officer and Director/Trustee of Dimensional Holdings Inc., Chief Investment Officer of Dimensional Fund Advisors LP, DFA Securities LLC, DFAIDG and DIG. DEM, DFAIDG, DIG, DFAITC and Dimensional Trustee, Co-Chief Cayman Commodity Fund I Ltd. Director, Co-Chief Executive Officer and Executive Officer, President and Chief Investment Chief Investment Officer Officer of Dimensional Fund Advisors Canada ULC. of DFAITC and DEM. Chief Investment Officer, Vice President and Director 6300 Bee Cave Road, of DFA Australia Limited. Director of Dimensional Building One Fund Advisors Ltd., Dimensional Funds PLC, Austin, TX 78746 Dimensional Funds II PLC, Dimensional Japan Ltd. 1967 and Dimensional Advisors Ltd., Formerly President of Dimensional Holdings Inc, Dimensional Fund Advisors LP, DFA Securities LLC, DEM, DFAIDG, DIG, DFAITC and Dimensional Fund Advisors Canada ULC. /1/ Each Trustee/Director holds office for an indefinite term until his or her successor is elected and qualified. /2/ Each Trustee/Director is a director or trustee of each of the four registered investment companies within the DFA Fund Complex, which includes the Funds. * Interested Trustees/Directors are described as such because they are deemed to be "interested persons," as that term is defined under the Investment Company Act of 1940, as amended, due to their positions with Dimensional Fund Advisors LP. 63 Officers The name, year of birth, information regarding positions with the Funds and the principal occupation for each officer of the Funds are set forth below. Each officer listed below holds the same office (except as otherwise noted) in the following entities: Dimensional Fund Advisors LP (prior to November 3, 2006, Dimensional Fund Advisors Inc.) ("Dimensional"), Dimensional Holdings Inc., DFA Securities LLC (prior to April 6, 2009, DFA Securities Inc.), DFAIDG, DIG, DFAITC and DEM (collectively, the "DFA Entities"). The address of each officer is: Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, unless otherwise indicated. Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years --------------------------------------------------------------------------------------------------------------------- Officers --------------------------------------------------------------------------------------------------------------------- April A. Aandal Since 2008 Vice President of all the DFA Entities. Vice President 1963 --------------------------------------------------------------------------------------------------------------------- Robyn G. Alcorta Since 2012 Vice President of all the DFA Entities. Formerly, Vice President Vice President Business Development at Capson Physicians Insurance Company 1974 (2010-2012); Vice President at Charles Schwab (2007-2010). --------------------------------------------------------------------------------------------------------------------- Darryl D. Avery Since 2005 Vice President of all the DFA Entities. Vice President 1966 --------------------------------------------------------------------------------------------------------------------- Arthur H. Barlow Since 1993 Vice President of all the DFA Entities. Director and Managing Vice President Director of DFAL (since September 2013). 1955 --------------------------------------------------------------------------------------------------------------------- Scott A. Bosworth Since 2007 Vice President of all the DFA Entities. Vice President 1968 --------------------------------------------------------------------------------------------------------------------- Valerie A. Brown Since 2001 Vice President and Assistant Secretary of all the DFA Entities, DFA Vice President and Assistant Australia Limited, Dimensional Fund Advisors Ltd., Dimensional Secretary Cayman Commodity Fund I Ltd., Dimensional Fund Advisors Pte. 1967 Ltd., Dimensional Hong Kong Limited. Director, Vice President and Assistant Secretary of Dimensional Fund Advisors Canada ULC. --------------------------------------------------------------------------------------------------------------------- David P. Butler Since 2007 Vice President of all the DFA Entities. Head of Global Financial Vice President Services of Dimensional (since 2008). 1964 --------------------------------------------------------------------------------------------------------------------- Douglas M. Byrkit Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (December 2010-January2012); Regional Director 1970 at Russell Investments (April 2006-December 2010). --------------------------------------------------------------------------------------------------------------------- James G. Charles Since 2011 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (2008-2010); Vice President, Client Portfolio 1956 Manager at American Century Investments (2001-2008). --------------------------------------------------------------------------------------------------------------------- Joseph H. Chi Since 2009 Vice President of all the DFA Entities. Co-Head of Portfolio Vice President Management of Dimensional (since March 2012). Sr. Portfolio 1966 Manager of Dimensional (since January 2012). Formerly, Portfolio Manager for Dimensional (October 2005-January 2012). --------------------------------------------------------------------------------------------------------------------- Stephen A. Clark Since 2004 Vice President of all the DFA Entities, DFA Australia Limited and Vice President Dimensional Fund Advisors Canada ULC. Head of Institutional, 1972 North America (since March 2012). Formerly, Head of Portfolio Management of Dimensional (January 2006-March 2012). --------------------------------------------------------------------------------------------------------------------- Matt B. Cobb Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since September 2011). Formerly, Vice President at 1971 MullinTBG 92005-2011). --------------------------------------------------------------------------------------------------------------------- Ryan Cooper Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since 2003). 1979 --------------------------------------------------------------------------------------------------------------------- Jeffrey D. Cornell Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (August 2002-January 2012). 1976 --------------------------------------------------------------------------------------------------------------------- Robert P. Cornell Since 2007 Vice President of all the DFA Entities. Vice President 1949 --------------------------------------------------------------------------------------------------------------------- 64 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years --------------------------------------------------------------------------------------------------------------------------- George H. Crane Since 2010 Vice President of all the DFA Entities. Formerly, Senior Vice Vice President President and Managing Director at State Street Bank & Trust 1955 Company (2007-2008). --------------------------------------------------------------------------------------------------------------------------- Christopher S. Crossan Since 2004 Vice President and Global Chief Compliance Officer of all the DFA Vice President and Global Chief Entities, DFA Australia Limited, Dimensional Fund Advisors Ltd., Compliance Officer and Dimensional SmartNest (US) LLC. Chief Compliance Officer of 1965 Dimensional Fund Advisors Canada ULC. --------------------------------------------------------------------------------------------------------------------------- James L. Davis Since 1999 Vice President of all the DFA Entities. Vice President 1956 --------------------------------------------------------------------------------------------------------------------------- Robert T. Deere Since 1994 Vice President of all the DFA Entities, DFA Australia Limited and Vice President Dimensional Fund Advisors Canada ULC. 1957 --------------------------------------------------------------------------------------------------------------------------- Peter F. Dillard Since 2010 Vice President of all the DFA Entities. Research Associate for Vice President Dimensional (since August 2008). 1972 --------------------------------------------------------------------------------------------------------------------------- Robert W. Dintzner Since 2001 Vice President of all the DFA Entities. Vice President 1970 --------------------------------------------------------------------------------------------------------------------------- Richard A. Eustice Since 1998 Vice President and Assistant Secretary of all the DFA Entities and Vice President and Assistant DFA Australia Limited. Secretary 1965 --------------------------------------------------------------------------------------------------------------------------- Gretchen A. Flicker Since 2004 Vice President of all the DFA Entities. Vice President 1971 --------------------------------------------------------------------------------------------------------------------------- Jed S. Fogdall Since 2008 Vice President of all the DFA Entities. Co-Head of Portfolio Vice President Management of Dimensional (since March 2012). Sr. Portfolio 1974 Manager of Dimensional (since January 2012). --------------------------------------------------------------------------------------------------------------------------- Jeremy P. Freeman Since 2009 Vice President of all the DFA Entities. Senior Technology Manager Vice President for Dimensional (since June 2006). 1970 --------------------------------------------------------------------------------------------------------------------------- Mark R. Gochnour Since 2007 Vice President of all the DFA Entities. Vice President 1967 --------------------------------------------------------------------------------------------------------------------------- Tom M. Goodrum Since 2012 Vice President of all the DFA Entities. Formerly, Managing Director Vice President at BlackRock (2004-January 2012). 1968 --------------------------------------------------------------------------------------------------------------------------- Henry F. Gray Since 2000 Vice President of all the DFA Entities. Vice President 1967 --------------------------------------------------------------------------------------------------------------------------- John T. Gray Since 2007 Vice President of all the DFA Entities. Vice President 1974 --------------------------------------------------------------------------------------------------------------------------- Christian Gunther Since 2011 Vice President of all the DFA Entities. Senior Trader for Vice President Dimensional (since 2012). Formerly, Senior Trader for Dimensional 1975 Fund Advisors Ltd. (2009-2012); Trader for Dimensional Fund Ltd. (2008-2009); Trader for Dimensional (2004-2008). --------------------------------------------------------------------------------------------------------------------------- Joel H. Hefner Since 2007 Vice President of all the DFA Entities. Vice President 1967 --------------------------------------------------------------------------------------------------------------------------- Julie C. Henderson Since 2005 Vice President and Fund Controller of all the DFA Entities, Vice President and Fund Controller Dimensional Cayman Commodity Fund I Ltd. and Dimensional 1974 Japan Ltd. --------------------------------------------------------------------------------------------------------------------------- Kevin B. Hight Since 2005 Vice President of all the DFA Entities. Vice President 1967 --------------------------------------------------------------------------------------------------------------------------- 65 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years ---------------------------------------------------------------------------------------------------------------------- Christine W. Ho Since 2004 Vice President of all the DFA Entities. Vice President 1967 ---------------------------------------------------------------------------------------------------------------------- Michael C. Horvath Since 2011 Vice President of all the DFA Entities. Formerly, Managing Director, Vice President Co-Head Global Consultant Relations at BlackRock (2004-2011). 1960 ---------------------------------------------------------------------------------------------------------------------- William A. Irvine Since 2013 Vice President of all the DFA Entities, Regional Director For Vice President Dimensional (since 2012). Formerly, Vice President of Institutional 1957 Business Development at Eaton Vance (2005-2011). ---------------------------------------------------------------------------------------------------------------------- Jeff J. Jeon Since 2004 Vice President of all the DFA Entities and Dimensional Cayman Vice President Commodity Fund I Ltd. 1973 ---------------------------------------------------------------------------------------------------------------------- Stephen W. Jones Since 2012 Vice President of all the DFA Entities. Formerly, Facilities Manager Vice President for Dimensional (October 2008-January 2012). 1968 ---------------------------------------------------------------------------------------------------------------------- Patrick M. Keating Since 2003 Vice President and Chief Operating Officer of all the DFA Entities, Vice President Dimensional Cayman Commodity Fund I Ltd., Dimensional Japan 1954 Ltd., Dimensional Advisors Ltd., Dimensional Hong Kong Limited and Chief Operating Officer of Dimensional. Director, Vice President and Chief Privacy Officer of Dimensional Fund Advisors Canada ULC. Director of DFA Australia Limited, Dimensional Fund Advisors Ltd., Dimensional Japan Ltd. and Dimensional Advisors Ltd. Director and Vice President of Dimensional Hong Kong Limited and Dimensional Fund Advisors Pte. Ltd. ---------------------------------------------------------------------------------------------------------------------- Andrew K. Keiper Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since October 2004). 1977 ---------------------------------------------------------------------------------------------------------------------- Glenn E. Kemp Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional Fund Advisors LP (April 2006-January 2012). 1948 ---------------------------------------------------------------------------------------------------------------------- David M. Kershner Since 2010 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since June 2004). 1971 ---------------------------------------------------------------------------------------------------------------------- Timothy R. Kohn Since 2011 Vice President of all the DFA Entities. Head of Defined Contribution Vice President Sales for Dimensional (since August 2010). Formerly, Chief DC 1971 Strategist, Barclays Global Investors (2005-2009). ---------------------------------------------------------------------------------------------------------------------- Joseph F. Kolerich Since 2004 Vice President of all the DFA Entities. Sr. Portfolio Manager of Vice President Dimensional (since January 2012).Formerly, Portfolio Manager for 1971 Dimensional (April 2001-January 2012). ---------------------------------------------------------------------------------------------------------------------- Mark D. Krasniewski Since 2013 Vice President of all the DFA Entities. Formerly, Senior Associate Vice President Investment Analytics and Data for Dimensional (January 2012- 1981 December 2012); Systems Developer for Dimensional (June 2007- December 2011). ---------------------------------------------------------------------------------------------------------------------- Stephen W. Kurad Since 2011 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (2007-2010). 1968 ---------------------------------------------------------------------------------------------------------------------- Michael F. Lane Since 2004 Vice President of all the DFA Entities. Chief Executive Officer of Vice President Dimensional SmartNest (US) LLC (since 2012). 1967 ---------------------------------------------------------------------------------------------------------------------- Francis R. Lao Since 2011 Vice President of all the DFA Entities. Formerly, Vice President - Vice President Global Operations at Janus Capital Group (2005-2011). 1969 ---------------------------------------------------------------------------------------------------------------------- David F. LaRusso Since 2013 Vice President of all the DFA Entities. Formerly, Senior Trader for Vice President Dimensional (January 2010-December 2012); Trader for 1978 Dimensional (2000-2009). ---------------------------------------------------------------------------------------------------------------------- Juliet H. Lee Since 2005 Vice President of all the DFA Entities. Vice President 1971 ---------------------------------------------------------------------------------------------------------------------- 66 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years --------------------------------------------------------------------------------------------------------------------------- Marlena I. Lee Since 2011 Vice President of all the DFA Entities. Formerly, Research Vice President Associate for Dimensional (July 2008-2010). 1980 --------------------------------------------------------------------------------------------------------------------------- John B. Lessley Since 2013 Vice President of all the DFA Entities. Regional Director Vice President for Dimensional (since January 2008). 1960 --------------------------------------------------------------------------------------------------------------------------- Apollo D. Lupescu Since 2009 Vice President of all the DFA Entities. Regional Director Vice President for Dimensional (since February 2004). 1969 --------------------------------------------------------------------------------------------------------------------------- Kenneth M. Manell Since 2010 Vice President of all the DFA Entities and Dimensional Vice President Cayman Commodity Fund I Ltd. Counsel for Dimensional (since 1972 September 2006). --------------------------------------------------------------------------------------------------------------------------- Rose C. Manziano Since 2013 Vice President of all the DFA Entities. Regional Director Vice President for Dimensional (Since August 2010). Formerly, Vice 1971 President, Sales and Business Development at AdvisorsIG (PPMG) (2009- 2010); Vice President at Credit Suisse (2007-2009). --------------------------------------------------------------------------------------------------------------------------- Aaron M. Marcus Since 2008 Vice President of all the DFA Entities and Head of Global Vice President & Head of Global Human Resources of Dimensional. Human Resources 1970 --------------------------------------------------------------------------------------------------------------------------- David R. Martin Since 2007 Vice President, Chief Financial Officer and Treasurer of Vice President, Chief Financial Officer all the DFA Entities. Director, Vice President, Chief and Treasurer Financial Officer and Treasurer of Dimensional Fund 1956 Advisors Ltd., DFA Australia Limited, Dimensional Advisors Ltd., Dimensional Fund Advisors Pte. Ltd., Dimensional Hong Kong Limited and Dimensional Fund Advisors Canada ULC. Chief Financial Officer, Treasurer, and Vice President of Dimensional SmartNest (US) LLC, and Dimensional Cayman Commodity Fund I Ltd. Director of Dimensional Funds PLC and Dimensional Funds II PLC. Statutory Auditor of Dimensional Japan Ltd. --------------------------------------------------------------------------------------------------------------------------- Matthew H. Miller Since 2013 Vice President of all the DFA Entities. Client Service Vice President Manager for Dimensional (Since 2012). Formerly, Regional 1978 Director for Dimensional (2008-2011; Senior Associate at Dimensional (2007-2010). --------------------------------------------------------------------------------------------------------------------------- Jonathan G. Nelson Since 2013 Vice President of all the DFA Entities. Manager, Investment Vice President Systems at Dimensional (Since 2011). Formerly, Project 1971 Manager for Dimensional (2007-2010). --------------------------------------------------------------------------------------------------------------------------- Catherine L. Newell Vice President since Vice President and Secretary of all the DFA Entities. Vice President and Secretary 1997 and Secretary Director, Vice President and Secretary of DFA Australia 1964 since 2000 Limited and Dimensional Fund Advisors Ltd. (since February 2002, April 1997 and May 2002, respectively). Vice President and Secretary of Dimensional Fund Advisors Canada ULC (since June 2003), Dimensional SmartNest (US) LLC, Dimensional Cayman Commodity Fund I Ltd., Dimensional Japan Ltd. (since February 2012), Dimensional Advisors Ltd. (since March 2012), Dimensional Fund Advisors Pte. Ltd. (since June 2012) and Dimensional Hong Kong Limited (since August 2012). Director, Dimensional Funds PLC and Dimensional Funds II PLC (since 2002 and 2006, respectively). Director of Dimensional Japan Ltd., Dimensional Advisors Ltd., Dimensional Fund Advisors Pte. Ltd. and Dimensional Hong Kong Limited (since August 2012 and July 2012). --------------------------------------------------------------------------------------------------------------------------- Pamela B. Noble Since 2011 Vice President of all the DFA Entities. Portfolio Manager Vice President for Dimensional (2008-2010). 1964 --------------------------------------------------------------------------------------------------------------------------- Selwyn J. Notelovitz Since 2012 Vice President of all DFA Entities. Deputy Chief Compliance Vice President Officer of Dimensional (since December 2012). Formerly 1961 Chief Compliance Officer of Wellington Management Company, LLP (2004-2011). --------------------------------------------------------------------------------------------------------------------------- Carolyn L. O Since 2010 Vice President of all the DFA Entities and Dimensional Vice President Cayman Commodity Fund I Ltd. Deputy General Counsel, Funds 1974 (since 2011). Counsel for Dimensional (2007-2011). --------------------------------------------------------------------------------------------------------------------------- 67 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years ----------------------------------------------------------------------------------------------------------------------- Gerard K. O'Reilly Since 2007 Vice President of all the DFA Entities. Vice President 1976 ----------------------------------------------------------------------------------------------------------------------- Daniel C. Ong Since 2009 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since July 2005). 1973 ----------------------------------------------------------------------------------------------------------------------- Kyle K. Ozaki Since 2010 Vice President of all the DFA Entities. Senior Compliance Officer for Vice President Dimensional (since January 2008). Formerly, Compliance Officer 1978 (February 2006-December 2007). ----------------------------------------------------------------------------------------------------------------------- Matthew A. Pawlak Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional Fund Advisors LP (since 2012). Formerly, Senior 1977 Consultant at Hewitt EnnisKnupp (June 2011-December 2011); Senior Investment Analyst and Consultant at Hewitt EnnisKnupp (July 2008-June 2011). ----------------------------------------------------------------------------------------------------------------------- Brian P. Pitre Since 2013 Vice President of all the DFA Entities. Counsel for Dimensional Vice President Fund Advisors LP (since 2009). Formerly, Vice President and 1976 Corporate Counsel at Mellon Capital Management (2006-2008). ----------------------------------------------------------------------------------------------------------------------- David A. Plecha Since 1993 Vice President of all the DFA Entities, DFA Australia Limited, Vice President Dimensional Fund Advisors Ltd. and Dimensional Fund Advisors 1961 Canada ULC. ----------------------------------------------------------------------------------------------------------------------- Allen Pu Since 2011 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since July 2006). 1970 ----------------------------------------------------------------------------------------------------------------------- Theodore W. Randall Since 2008 Vice President of all the DFA Entities. Formerly, Research Vice President Associate of Dimensional (2006-2008). 1973 ----------------------------------------------------------------------------------------------------------------------- Mark A. Regier Since 2013 Vice President of all the DFA Entities. Planning and Analysis Vice President Manager for Dimensional (since July 2007). 1969 ----------------------------------------------------------------------------------------------------------------------- Savina B. Rizova Since 2012 Vice President of all the DFA Entities. Formerly, Research Vice President Associate for Dimensional (June 2011-January 2012); Research 1981 Assistant for Dimensional (July 2004-August 2007). ----------------------------------------------------------------------------------------------------------------------- L. Jacobo Rodriguez Since 2005 Vice President of all the DFA Entities. Vice President 1971 ----------------------------------------------------------------------------------------------------------------------- Julie A. Saft Since 2010 Vice President of all the DFA Entities. Client Systems Manager for Vice President Dimensional (since July 2008). 1959 ----------------------------------------------------------------------------------------------------------------------- Walid A. Shinnawi Since 2010 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (March 2006-January 2010). 1961 ----------------------------------------------------------------------------------------------------------------------- Bruce A. Simmons Since 2009 Vice President of all the DFA Entities. Investment Operations Vice President Manager for Dimensional (since May 2007). 1965 ----------------------------------------------------------------------------------------------------------------------- Ted R. Simpson Since 2007 Vice President of all the DFA Entities. Vice President 1968 ----------------------------------------------------------------------------------------------------------------------- Bryce D. Skaff Since 2007 Vice President of all the DFA Entities. Vice President 1975 ----------------------------------------------------------------------------------------------------------------------- Andrew D. Smith Since 2011 Vice President of all the DFA Entities. Project Manager for Vice President Dimensional (2007-2010). 1968 ----------------------------------------------------------------------------------------------------------------------- Grady M. Smith Since 2004 Vice President of all the DFA Entities and Dimensional Fund Vice President Advisors Canada ULC. 1956 ----------------------------------------------------------------------------------------------------------------------- Carl G. Snyder Since 2000 Vice President of all the DFA Entities. Vice President 1963 ----------------------------------------------------------------------------------------------------------------------- 68 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years --------------------------------------------------------------------------------------------------------------------- Lawrence R. Spieth Since 2004 Vice President of all the DFA Entities. Vice President 1947 --------------------------------------------------------------------------------------------------------------------- Bradley G. Steiman Since 2004 Vice President of all the DFA Entities and Director and Vice Vice President President of Dimensional Fund Advisors Canada ULC. 1973 --------------------------------------------------------------------------------------------------------------------- Richard H. Tatlow Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since April 2010). Formerly, Principal, Investment 1971 Strategist at Barclays Global Investors (2004-2009). --------------------------------------------------------------------------------------------------------------------- Blake T. Tatsuta Since 2013 Vice President of all the DFA Entities, Manager, Investment Vice President Analytics and Data for Dimensional (since 2012). Formerly, 1973 Research Assistant at Dimensional (2002-2011). --------------------------------------------------------------------------------------------------------------------- Erik T. Totten Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since 2010). Formerly, Senior Associate at 1980 Dimensional (2007-2009). --------------------------------------------------------------------------------------------------------------------- John H. Totten Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (January 2008-January 2012). 1978 --------------------------------------------------------------------------------------------------------------------- Robert C. Trotter Since 2009 Vice President of all the DFA Entities. Senior Manager, Technology Vice President for Dimensional (since March 2007). 1958 --------------------------------------------------------------------------------------------------------------------- Karen E. Umland Since 1997 Vice President of all the DFA Entities, DFA Australia Limited, Vice President Dimensional Fund Advisors Ltd., and Dimensional Fund Advisors 1966 Canada ULC. --------------------------------------------------------------------------------------------------------------------- Brian J. Walsh Since 2009 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since 2004). 1970 --------------------------------------------------------------------------------------------------------------------- Weston J. Wellington Since 1997 Vice President of all the DFA Entities. Vice President 1951 --------------------------------------------------------------------------------------------------------------------- Ryan J. Wiley Since 2007 Vice President of all the DFA Entities. Vice President 1976 --------------------------------------------------------------------------------------------------------------------- Paul E. Wise Since 2005 Vice President of all the DFA Entities. Vice President 1955 --------------------------------------------------------------------------------------------------------------------- Joseph L. Young Since 2011 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (2005-2010). 1978 --------------------------------------------------------------------------------------------------------------------- /1 /Each officer holds office for an indefinite term at the pleasure of the Boards of Trustees/Directors and until his or her successor is elected and qualified. 69 VOTING PROXIES ON FUND PORTFOLIO SECURITIES A description of the policies and procedures that the Fund uses in voting proxies relating to securities held in the portfolio is available without charge, upon request, by calling collect: (512) 306-7400. Information regarding how the Advisor votes these proxies is available from the EDGAR database on the SEC's website at http://www.sec.gov and from the Advisor's website at http://www.dimensional.com and reflects the twelve-month period beginning July 1st and ending June 30th. 70 NOTICE TO SHAREHOLDERS (Unaudited) For shareholders that do not have an October 31, 2013 tax year end, this notice is for informational purposes only. For shareholders with an October 31, 2013 tax year end, please consult your tax advisor as to the pertinence of this notice. For the fiscal year November 1, 2012 to October 31, 2013, each Portfolio is designating the following items with regard to distributions paid during the fiscal year. All designations are based on financial information available as of the date of this annual report and, accordingly are subject to change. For each item, it is the intention of the Portfolio to designate the maximum amount permitted under the Internal Revenue Code and the regulations thereunder. Qualifying For Net Corporate Investment Short-Term Long-Term Dividends Qualifying Income Capital Gain Capital Gain Total Received Dividend DFA Investment Dimensions Group Inc. Distributions Distributions Distributions Distributions Deduction (1) Income (2) ------------------------------------ ------------- ------------- ------------- ------------- ------------- ---------- VA U.S. Targeted Value Portfolio............ 100% -- -- 100% 100% 100% VA U.S. Large Value Portfolio............... 100% -- -- 100% 100% 100% VA International Value Portfolio............ 100% -- -- 100% 100% 100% VA International Small Portfolio............ 60% -- 40% 100% 100% 100% VA Short-Term Fixed Portfolio............... 65% 17% 18% 100% -- -- VA Global Bond Portfolio.................... 55% 6% 40% 100% -- -- DFA VA Global Moderate Allocation Portfolio. -- -- -- -- 100% 100% Qualifying Short- U.S. Foreign Foreign Qualifying Term Government Tax Source Interest Capital DFA Investment Dimensions Group Inc. Interest (3) Credit (4) Income (5) Income (6) Gain (7) ------------------------------------ ------------ ---------- ---------- ---------- ---------- VA U.S. Targeted Value Portfolio............ -- -- -- 100% 100% VA U.S. Large Value Portfolio............... -- -- -- 100% 100% VA International Value Portfolio............ -- 5% 100% 100% 100% VA International Small Portfolio............ -- 5% 100% 100% 100% VA Short-Term Fixed Portfolio............... 5% -- -- 100% 100% VA Global Bond Portfolio.................... -- -- -- 100% 100% DFA VA Global Moderate Allocation Portfolio. -- 3% 56% 100% 100% ----------------------- (1)Qualifying dividends represent dividends which qualify for the corporate dividends received deduction and is reflected as a percentage of ordinary income distributions (the total of short-term capital gain and net investment income distributions). (2)The percentage in this column represents the amount of "Qualifying Dividend Income" as created by the Jobs and Growth Tax Relief Reconciliation Act of 2003 and is reflected as a percentage of ordinary income distributions (the total of short-term capital gain and net investment income distributions). Please note that these percentages are designated only, refer to your 1099 for actual qualified dividend income. (3)"U.S. Government Interest" represents the amount of interest that was derived from direct U.S. Government obligations and distributed during the fiscal year. This amount is reflected as a percentage of total ordinary income distributions (the total of short-term capital gain and net investment income distributions). Generally, interest from direct U.S. Government obligations is exempt from state income tax. However, for residents of California, Connecticut and New York, the statutory threshold requirements were not satisfied to permit exemption of these amounts from state income for this fund. (4)"Foreign Tax Credit" represents dividends which qualify for the foreign tax credit pass through and is reflected as a percentage of investment company taxable income. (5)"Foreign Source Income" represents the portion of dividends derived from foreign sources, and is reflected as a percentage of investment company taxable income. (6)The percentage in this column represents the amount of "Qualifying Interest Income" as created by The American Jobs Creation Act of 2004. The information is reflected as a percentage ordinary income distributions (the total of short-term capital gain and net investment income distributions). (7)The percentage in this column represents the amount of "Qualifying Short-Term Capital Gain" as created by The American Jobs Creation Act of 2004. The information is reflected as a percentage of ordinary income distributions (the total of short-term capital gain and net investment income distributions). 71 [LOGO] DFA103113-004A [LOGO] ANNUAL REPORT year ended: October 31, 2013 Dimensional Investment Group Inc. LWAS/DFA U.S. High Book to Market Portfolio LWAS/DFA Two-Year Fixed Income Portfolio LWAS/DFA Two-Year Government Portfolio DFA Investment Dimensions Group Inc. LWAS/DFA International High Book to Market Portfolio [LOGO] Dimensional Fund Advisors 6300 Bee Cave Road, Building One Austin, TX 78746 November 2013 Dear Fellow Shareholder, Our goal at Dimensional is to deliver an outstanding investment experience to our clients. Our close ties to academia help us identify leading research that can be beneficial to investors, and our team works to interpret, rigorously test, and consider the practical applicability of those ideas in carefully implemented investment strategies. This focus on research and implementation has been central to Dimensional's approach since our founding and will continue to be a key part of our offer to investors. Sincerely, /s/ David G. Booth Chairman and Co-Chief Executive Officer DIMENSIONAL INVESTMENT GROUP INC. ANNUAL REPORT Table of Contents Page ---- Letter to Shareholders Definitions of Abbreviations and Footnotes.................................................. 1 Dimensional Investment Group Inc. Performance Charts....................................................................... 2 Management's Discussion and Analysis..................................................... 4 Disclosure of Fund Expenses.............................................................. 7 Disclosure of Portfolio Holdings......................................................... 9 Schedules of Investments LWAS/DFA U.S. High Book to Market Portfolio.......................................... 10 LWAS/DFA Two-Year Fixed Income Portfolio............................................. 11 LWAS/DFA Two-Year Government Portfolio............................................... 13 Statements of Assets and Liabilities..................................................... 14 Statements of Operations................................................................. 16 Statements of Changes in Net Assets...................................................... 17 Financial Highlights..................................................................... 18 Notes to Financial Statements............................................................ 20 Report of Independent Registered Public Accounting Firm.................................. 27 DFA Investment Dimensions Group Inc. - LWAS/DFA International High Book to Market Portfolio Performance Charts....................................................................... 28 Management's Discussion and Analysis..................................................... 29 Disclosure of Fund Expenses.............................................................. 31 Disclosure of Portfolio Holdings......................................................... 32 Schedule of Investments.................................................................. 33 Statement of Assets and Liabilities...................................................... 34 Statement of Operations.................................................................. 35 Statements of Changes in Net Assets...................................................... 36 Financial Highlights..................................................................... 37 Notes to Financial Statements............................................................ 38 Report of Independent Registered Public Accounting Firm.................................. 43 The DFA Investment Trust Company Performance Charts....................................................................... 44 Management's Discussion and Analysis..................................................... 45 Disclosure of Fund Expenses.............................................................. 47 Disclosure of Portfolio Holdings......................................................... 48 Summary Schedules of Portfolio Holdings The U.S. Large Cap Value Series...................................................... 49 The DFA International Value Series................................................... 52 Statements of Assets and Liabilities..................................................... 56 Statements of Operations................................................................. 57 Statements of Changes in Net Assets...................................................... 58 Financial Highlights..................................................................... 59 Notes to Financial Statements............................................................ 60 Report of Independent Registered Public Accounting Firm.................................. 68 Fund Management............................................................................. 69 Voting Proxies on Fund Portfolio Securities................................................. 78 Notice to Shareholders...................................................................... 79 This report is submitted for the information of the Fund's shareholders. It is not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus. i DIMENSIONAL INVESTMENT GROUP INC. DFA INVESTMENT DIMENSIONS GROUP INC. THE DFA INVESTMENT TRUST COMPANY DEFINITIONS OF ABBREVIATIONS AND FOOTNOTES Schedules of Investments/Summary Schedules of Portfolio Holdings ---------------------------------------------------------------- Investment Abbreviations ADR American Depositary Receipt FNMA Federal National Mortgage Association P.L.C. Public Limited Company Investment Footnotes + See Note B to Financial Statements. ++ Securities have generally been fair valued. See Note B to Financial Statements. ** Calculated as a percentage of total net assets. Percentages shown parenthetically next to the category headings have been calculated as a percentage of total investments. "Other Securities" are those securities that are not among the top 50 holdings of the Fund or do not represent more than 1.0% of the net assets of the Fund. Some of the individual securities within this category may include Total or Partial Securities on Loan and/or Non-Income Producing Securities. * Non-Income Producing Securities. # Total or Partial Securities on Loan. @ Security purchased with cash proceeds from Securities on Loan. (r) The adjustable rate shown is effective as of October 31, 2013. (S) Affiliated Fund. Financial Highlights -------------------- (A) Computed using average shares outstanding. (B) Represents the combined ratios for the respective portfolio and its respective pro-rata share of its Master Funds. All Statements, Schedules and Notes to Financial Statements ----------------------------------------------------------- -- Amounts designated as -- are either zero or rounded to zero. REIT Real Estate Investment Trust SEC Securities and Exchange Commission 1 DIMENSIONAL INVESTMENT GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- LWAS/DFA U.S. HIGH BOOK TO MARKET PORTFOLIO VS. RUSSELL 1000(R) VALUE INDEX October 31, 2003-October 31, 2013 [CHART] LWAS/DFA U.S. High Book to Russell 1000/R/ Market Portfolio Value Index -------------------------- --------------- 10/31/2003 $10,000 $10,000 11/30/2003 10,230 10,136 12/31/2003 10,930 10,760 1/31/2004 11,111 10,950 2/29/2004 11,392 11,184 3/31/2004 11,349 11,086 4/30/2004 11,158 10,815 5/31/2004 11,218 10,925 6/30/2004 11,554 11,183 7/31/2004 11,181 11,026 8/31/2004 11,181 11,182 9/30/2004 11,524 11,356 10/31/2004 11,655 11,544 11/30/2004 12,424 12,128 12/31/2004 12,918 12,534 1/31/2005 12,593 12,311 2/28/2005 12,969 12,719 3/31/2005 12,933 12,545 4/30/2005 12,495 12,320 5/31/2005 13,024 12,617 6/30/2005 13,289 12,755 7/31/2005 13,952 13,124 8/31/2005 13,830 13,067 9/30/2005 14,044 13,250 10/31/2005 13,666 12,914 11/30/2005 14,218 13,336 12/31/2005 14,233 13,416 1/31/2006 14,904 13,937 2/28/2006 14,853 14,022 3/31/2006 15,114 14,212 4/30/2006 15,538 14,573 5/31/2006 15,248 14,205 6/30/2006 15,379 14,295 7/31/2006 15,161 14,643 8/31/2006 15,399 14,888 9/30/2006 15,825 15,185 10/31/2006 16,450 15,682 11/30/2006 16,762 16,040 12/31/2006 17,094 16,400 1/31/2007 17,590 16,610 2/28/2007 17,320 16,351 3/31/2007 17,437 16,603 4/30/2007 18,182 17,217 5/31/2007 18,928 17,838 6/30/2007 18,621 17,421 7/31/2007 17,462 16,616 8/31/2007 17,126 16,802 9/30/2007 17,568 17,379 10/31/2007 17,666 17,381 11/30/2007 16,677 16,531 12/31/2007 16,611 16,371 1/31/2008 15,975 15,716 2/29/2008 15,490 15,057 3/31/2008 15,333 14,944 4/30/2008 16,306 15,673 5/31/2008 16,688 15,648 6/30/2008 14,858 14,150 7/31/2008 14,695 14,099 8/31/2008 14,975 14,339 9/30/2008 13,630 13,285 10/31/2008 10,558 10,985 11/30/2008 9,519 10,198 12/31/2008 9,833 10,339 1/31/2009 8,663 9,150 2/28/2009 7,446 7,928 3/31/2009 8,176 8,606 4/30/2009 9,495 9,528 5/31/2009 10,226 10,117 6/30/2009 10,101 10,042 7/31/2009 11,061 10,864 8/31/2009 11,805 11,433 9/30/2009 12,313 11,874 10/31/2009 11,784 11,511 11/30/2009 12,445 12,160 12/31/2009 12,790 12,375 1/31/2010 12,487 12,027 2/28/2010 13,031 12,407 3/31/2010 14,043 13,214 4/30/2010 14,479 13,556 5/31/2010 13,243 12,442 6/30/2010 12,242 11,742 7/31/2010 13,190 12,536 8/31/2010 12,388 12,000 9/30/2010 13,604 12,931 10/31/2010 14,106 13,319 11/30/2010 13,996 13,248 12/31/2010 15,362 14,294 1/31/2011 15,842 14,617 2/28/2011 16,704 15,156 3/31/2011 16,786 15,217 4/30/2011 17,193 15,622 5/31/2011 16,958 15,457 6/30/2011 16,645 15,140 7/31/2011 15,889 14,638 8/31/2011 14,539 13,724 9/30/2011 13,075 12,687 10/31/2011 14,879 14,139 11/30/2011 14,754 14,066 12/31/2011 14,862 14,350 1/31/2012 15,602 14,893 2/29/2012 16,504 15,486 3/31/2012 16,805 15,945 4/30/2012 16,454 15,783 5/31/2012 15,285 14,857 6/30/2012 16,104 15,595 7/31/2012 16,256 15,756 8/31/2012 16,900 16,098 9/30/2012 17,520 16,609 10/31/2012 17,558 16,528 11/30/2012 17,596 16,521 12/31/2012 18,122 16,862 1/31/2013 19,387 17,958 2/28/2013 19,630 18,216 3/31/2013 20,575 18,937 4/30/2013 20,780 19,224 5/31/2013 21,639 19,717 6/30/2013 21,390 19,543 Past performance is not predictive of 7/31/2013 22,664 20,599 future performance. 8/31/2013 21,982 19,817 9/30/2013 22,626 20,314 The returns shown do not reflect the 10/31/2013 23,776 21,203 deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Average Annual One Five Ten Total Return Year Years Years Russell data copyright (C) Russell ------------------------------------------------------ Investment Group 1995-2013, all rights 35.41% 17.63% 9.05% reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- LWAS/DFA TWO-YEAR FIXED INCOME PORTFOLIO VS. THE BOFA MERRILL LYNCH 1-3 YEAR U.S. CORPORATE & GOVERNMENT INDEX October 31, 2003-October 31, 2013 [CHART] LWAS/DFA Two-Year The BofA Merrill Lynch 1-3 Year Fixed Income Portfolio U.S. Corporate & Government Index ---------------------- --------------------------------- 10/31/2003 $10,000 $10,000 11/30/2003 10,000 10,000 12/31/2003 10,056 10,063 1/31/2004 10,077 10,088 2/29/2004 10,107 10,140 3/31/2004 10,136 10,175 4/30/2004 10,055 10,077 5/31/2004 10,025 10,061 6/30/2004 10,013 10,061 7/31/2004 10,053 10,105 8/31/2004 10,114 10,181 9/30/2004 10,105 10,175 10/31/2004 10,126 10,208 11/30/2004 10,085 10,159 12/31/2004 10,092 10,184 1/31/2005 10,092 10,181 2/28/2005 10,082 10,160 3/31/2005 10,082 10,155 4/30/2005 10,133 10,213 5/31/2005 10,164 10,257 6/30/2005 10,179 10,280 7/31/2005 10,168 10,253 8/31/2005 10,210 10,319 9/30/2005 10,210 10,293 10/31/2005 10,220 10,292 11/30/2005 10,251 10,323 12/31/2005 10,283 10,362 1/31/2006 10,314 10,384 2/28/2006 10,346 10,395 3/31/2006 10,377 10,412 4/30/2006 10,409 10,445 5/31/2006 10,451 10,460 6/30/2006 10,481 10,480 7/31/2006 10,534 10,560 8/31/2006 10,577 10,636 9/30/2006 10,623 10,694 10/31/2006 10,666 10,740 11/30/2006 10,709 10,797 12/31/2006 10,760 10,803 1/31/2007 10,804 10,829 2/28/2007 10,848 10,916 3/31/2007 10,894 10,959 4/30/2007 10,938 11,000 5/31/2007 10,982 10,993 6/30/2007 11,030 11,038 7/31/2007 11,075 11,128 8/31/2007 11,131 11,221 9/30/2007 11,169 11,302 10/31/2007 11,214 11,349 11/30/2007 11,248 11,514 12/31/2007 11,303 11,545 1/31/2008 11,337 11,744 2/29/2008 11,372 11,851 3/31/2008 11,386 11,852 4/30/2008 11,409 11,784 5/31/2008 11,432 11,759 6/30/2008 11,447 11,787 7/31/2008 11,482 11,821 8/31/2008 11,505 11,873 9/30/2008 11,455 11,809 10/31/2008 11,525 11,799 11/30/2008 11,642 11,949 12/31/2008 11,745 12,087 1/31/2009 11,757 12,099 2/28/2009 11,745 12,082 3/31/2009 11,796 12,135 4/30/2009 11,844 12,205 5/31/2009 11,891 12,303 6/30/2009 11,908 12,326 7/31/2009 11,932 12,381 8/31/2009 11,980 12,454 9/30/2009 11,998 12,504 10/31/2009 12,022 12,549 11/30/2009 12,070 12,629 12/31/2009 12,005 12,551 1/31/2010 12,065 12,652 2/28/2010 12,077 12,682 3/31/2010 12,066 12,667 4/30/2010 12,090 12,705 5/31/2010 12,102 12,735 6/30/2010 12,153 12,794 7/31/2010 12,189 12,846 8/31/2010 12,201 12,880 9/30/2010 12,224 12,912 10/31/2010 12,248 12,948 11/30/2010 12,224 12,923 12/31/2010 12,224 12,904 1/31/2011 12,237 12,932 2/28/2011 12,237 12,930 3/31/2011 12,235 12,930 4/30/2011 12,272 12,992 5/31/2011 12,308 13,040 6/30/2011 12,311 13,043 7/31/2011 12,323 13,081 8/31/2011 12,335 13,105 9/30/2011 12,326 13,075 10/31/2011 12,338 13,103 11/30/2011 12,326 13,093 12/31/2011 12,325 13,106 1/31/2012 12,362 13,151 2/29/2012 12,362 13,158 3/31/2012 12,370 13,165 4/30/2012 12,382 13,191 5/31/2012 12,382 13,189 6/30/2012 12,392 13,196 7/31/2012 12,417 13,243 8/31/2012 12,417 13,257 9/30/2012 12,430 13,273 10/31/2012 12,430 13,278 11/30/2012 12,430 13,290 12/31/2012 12,441 13,300 1/31/2013 12,441 13,308 2/28/2013 12,441 13,322 3/31/2013 12,446 13,329 4/30/2013 12,459 13,350 5/31/2013 12,446 13,331 6/30/2013 12,441 13,310 Past performance is not predictive of 7/31/2013 12,454 13,340 future performance. 8/31/2013 12,441 13,331 9/30/2013 12,463 13,367 The returns shown do not reflect the 10/31/2013 12,463 13,391 deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Average Annual One Five Ten The Merrill Lynch Indices are used with Total Return Year Years Years permission; copyright 2013 Merrill ---------------------------------------------------------- Lynch, Pierce, Fenner & Smith 0.26% 1.58% 2.23% Incorporated; all rights reserved. -------------------------------------------------------------------------------- 2 DIMENSIONAL INVESTMENT GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- LWAS/DFA TWO-YEAR GOVERNMENT PORTFOLIO VS. THE BOFA MERRILL LYNCH 1-3 YEAR U.S. TREASURY & AGENCY INDEX October 31, 2003-October 31, 2013 [CHART] LWAS/DFA Two-Year The BofA Merrill Lynch 1-3 Year Government Portfolio U.S. Treasury & Agency Index -------------------- ------------------------------- 10/31/2003 $10,000 $10,000 11/30/2003 9,990 9,998 12/31/2003 10,055 10,056 1/31/2004 10,065 10,077 2/29/2004 10,116 10,126 3/31/2004 10,136 10,158 4/30/2004 10,054 10,061 5/31/2004 10,034 10,046 6/30/2004 10,028 10,045 7/31/2004 10,059 10,087 8/31/2004 10,130 10,159 9/30/2004 10,110 10,151 10/31/2004 10,141 10,183 11/30/2004 10,100 10,135 12/31/2004 10,107 10,157 1/31/2005 10,107 10,154 2/28/2005 10,096 10,133 3/31/2005 10,091 10,132 4/30/2005 10,133 10,188 5/31/2005 10,174 10,230 6/30/2005 10,195 10,252 7/31/2005 10,185 10,222 8/31/2005 10,227 10,287 9/30/2005 10,226 10,261 10/31/2005 10,237 10,259 11/30/2005 10,269 10,291 12/31/2005 10,300 10,330 1/31/2006 10,332 10,351 2/28/2006 10,354 10,363 3/31/2006 10,381 10,378 4/30/2006 10,424 10,410 5/31/2006 10,456 10,426 6/30/2006 10,488 10,445 7/31/2006 10,542 10,523 8/31/2006 10,585 10,597 9/30/2006 10,635 10,653 10/31/2006 10,679 10,699 11/30/2006 10,722 10,754 12/31/2006 10,768 10,758 1/31/2007 10,812 10,783 2/28/2007 10,845 10,868 3/31/2007 10,896 10,909 4/30/2007 10,941 10,949 5/31/2007 10,985 10,943 6/30/2007 11,034 10,988 7/31/2007 11,079 11,083 8/31/2007 11,124 11,185 9/30/2007 11,163 11,268 10/31/2007 11,208 11,313 11/30/2007 11,242 11,489 12/31/2007 11,282 11,526 1/31/2008 11,317 11,723 2/29/2008 11,351 11,830 3/31/2008 11,362 11,861 4/30/2008 11,385 11,779 5/31/2008 11,362 11,740 6/30/2008 11,386 11,775 7/31/2008 11,420 11,819 8/31/2008 11,455 11,866 9/30/2008 11,447 11,937 10/31/2008 11,482 12,025 11/30/2008 11,693 12,181 12/31/2008 11,885 12,304 1/31/2009 11,838 12,259 2/28/2009 11,838 12,260 3/31/2009 11,901 12,323 4/30/2009 11,937 12,325 5/31/2009 11,984 12,356 6/30/2009 11,981 12,345 7/31/2009 11,993 12,365 8/31/2009 12,028 12,415 9/30/2009 12,056 12,447 10/31/2009 12,080 12,473 11/30/2009 12,128 12,546 12/31/2009 12,066 12,455 1/31/2010 12,114 12,544 2/28/2010 12,139 12,570 3/31/2010 12,128 12,542 4/30/2010 12,152 12,575 5/31/2010 12,177 12,628 6/30/2010 12,225 12,685 7/31/2010 12,250 12,718 8/31/2010 12,262 12,741 9/30/2010 12,282 12,762 10/31/2010 12,318 12,792 11/30/2010 12,282 12,768 12/31/2010 12,294 12,746 1/31/2011 12,307 12,768 2/28/2011 12,294 12,758 3/31/2011 12,288 12,754 4/30/2011 12,338 12,809 5/31/2011 12,375 12,854 6/30/2011 12,374 12,859 7/31/2011 12,386 12,892 8/31/2011 12,398 12,936 9/30/2011 12,400 12,919 10/31/2011 12,400 12,930 11/30/2011 12,412 12,937 12/31/2011 12,413 12,944 1/31/2012 12,438 12,961 2/29/2012 12,438 12,948 3/31/2012 12,440 12,942 4/30/2012 12,452 12,968 5/31/2012 12,452 12,973 6/30/2012 12,445 12,967 7/31/2012 12,457 12,996 8/31/2012 12,470 12,998 9/30/2012 12,462 13,000 10/31/2012 12,462 12,994 11/30/2012 12,462 13,005 12/31/2012 12,467 13,010 1/31/2013 12,467 13,012 2/28/2013 12,467 13,021 3/31/2013 12,468 13,025 4/30/2013 12,481 13,038 5/31/2013 12,468 13,020 6/30/2013 12,468 13,010 Past performance is not predictive of 7/31/2013 12,481 13,031 future performance. 8/31/2013 12,468 13,019 9/30/2013 12,482 13,048 The returns shown do not reflect the 10/31/2013 12,495 13,063 deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Average Annual One Five Ten The Merrill Lynch Indices are used with Total Return Year Years Years permission; copyright 2013 Merrill ---------------------------------------------------------- Lynch, Pierce, Fenner & Smith 0.26% 1.71% 2.25% Incorporated; all rights reserved. -------------------------------------------------------------------------------- 3 DIMENSIONAL INVESTMENT GROUP INC. MANAGEMENT'S DISCUSSION AND ANALYSIS U.S. Equity Market Review 12 Months Ended October 31, 2013 The one-year period ended October 31, 2013, was characterized by strong gains in U.S. equities. The broad U.S. equity market, as measured by the Russell 3000(R) Index, had positive returns in 10 of the 12 months. The size premium was positive during the period with small cap stocks outperforming large cap stocks as measured by the Russell indices. Micro cap stocks were the strongest performers. Total Return for 12 Months Ended October 31, 2013 ------------------------------------------------- Russell 3000(R) Index........................ 28.99% Russell Microcap(R) Index (micro cap stocks). 38.72% Russell 2000(R) Index (small cap stocks)..... 36.28% Russell 1000(R) Index (large cap stocks)..... 28.40% Dow Jones U.S. Select REIT Index/SM/......... 9.96% The value premium was negative in small cap stocks while the performance of large cap value and large cap growth was almost identical as measured by the Russell indices. Total Return for 12 Months Ended October 31, 2013 ------------------------------------------------- Russell 2000(R) Value Index (small cap value stocks)... 32.83% Russell 2000(R) Growth Index (small cap growth stocks). 39.84% Russell 1000(R) Value Index (large cap value stocks)... 28.29% Russell 1000(R) Growth Index (large cap growth stocks). 28.30% ---------- Source: Russell data copyright (C) Russell Investment Group 1995-2013, all rights reserved. Dimensional Fund Advisors LP ("Dimensional" or the "Advisor") believes that among the most important factors explaining differences in the behavior of diversified equity portfolios are the market capitalization and value/ growth characteristics of the portfolios' holdings. Value characteristics are a function of stock price relative to one or more fundamental characteristics such as book value, earnings, or dividends. For many Dimensional U.S. equity portfolios, differences in returns over the 12 months ended October 31, 2013, were primarily attributable to differences in value/growth and size characteristics as well as the exclusion of REIT securities from most Dimensional portfolios and the exclusion of securities of highly regulated utilities from most value strategies. For many portfolios, the construction approach used by Dimensional generally resulted in portfolios with greater weight in value, small cap and/or micro cap companies relative to widely used benchmarks. Master-Feeder Structure Certain portfolios described below, called "Feeder Funds," do not buy individual securities directly; instead, these portfolios invest in corresponding funds called "Master Funds." Master Funds, in turn, purchase stocks and/or other securities. Domestic Equity Portfolio Performance Overview LWAS/DFA U.S. High Book to Market Portfolio The LWAS/DFA U.S. High Book to Market Portfolio seeks to capture the returns of U.S. large company value stocks by purchasing shares of The U.S. Large Cap Value Series, a Master Fund that invests in such stocks. Value is measured primarily by book-to-market ratio. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Master Fund held approximately 220 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Master Fund's assets. 4 For the 12 months ended October 31, 2013, total returns were 35.41% for the Portfolio and 28.29% for the Russell 1000(R) Value Index. As a result of the Master Fund's diversified investment approach, performance was determined principally by broad structural trends in the U.S. equity market rather than the behavior of a limited number of stocks. The Master Fund had significantly greater exposure than the Index to deeper value stocks. These stocks generally outperformed the Index, and the Master Fund's higher weight contributed to the Portfolio's outperformance relative to the Index. The Master Fund's exclusion of real estate investment trusts ("REITs") and highly regulated utilities also contributed to outperformance relative to the Index as both sectors underperformed the overall Index during the period. Fixed Income Market Review 12 Months Ended October 31, 2013 U.S. and developed international fixed income markets generally experienced rising interest rates for the year ended October 31, 2013. Throughout the year the U.S. Federal Reserve and other major central banks maintained historically low target short-term rates. This combination led to steepening yield curves in much of the developed world. On average, investment grade credit did well for the year, outperforming government bonds of similar duration. The one-month Treasury bill yield finished the fiscal year at 0.03%, while the yield on 10-year U.S. Treasury notes increased to 2.56%. October 31, 2013 October 31, 2012 Change ---------------- ---------------- ------ One-Month Treasury Bill (yield)...... 0.03% 0.09% -0.06% Ten-Year U.S. Treasury Notes (yield). 2.56% 1.69% 0.87% ---------- Source: Bloomberg. There is generally an inverse relationship between interest rates and bond prices, such that bond prices fall when interest rates rise. For the fiscal year under review, changes in interest rates and bond prices were more pronounced in some parts of the yield curve than in others. For the 12 months ended October 31, 2013, total returns were 0.10 % for three-month U.S. Treasury bills, -0.74% for five-year U.S. Treasury notes, and -11.69% for 30-year U.S. Treasury bonds (Source: Barclays Treasury Bellwethers). Some of Dimensional Fund Advisors LP's ("Dimensional" or the "Advisor") fixed income strategies are based on a variable-maturity strategy that identifies a maturity range with favorable risk-adjusted expected returns. When the yield curve is flat or inverted, short-term securities are believed to offer the most attractive opportunity on a risk-adjusted basis. When the yield curve is upwardly sloped, maturities are lengthened to achieve higher expected returns associated with longer maturities. During the period under review, the portfolios employing the variable-maturity strategy continued to take term risk, reflecting the upward-sloping eligible yield curves. Some fixed income strategies are based on an approach that varies exposure to credit risk. When credit spreads are narrow, higher-quality securities are believed to offer the more attractive opportunity on a risk-adjusted basis. When credit spreads are wide, additional credit risk is taken to achieve the higher expected returns associated with increased risk. During the period under review, the portfolios employing the variable credit approach continued to take market-like credit risk, reflecting a wide credit spread environment. Fixed Income Portfolios' Performance Overview LWAS/DFA Two-Year Fixed Income Portfolio The LWAS/DFA Two-Year Fixed Income Portfolio seeks to maximize total returns consistent with preservation of capital by investing in high quality fixed income securities maturing in two years or less. The investment strategy shifts maturities based on changes in the yield curve. The strategy uses current yields and identifies the maturity range for the highest risk-adjusted expected returns based on potential buy and sell strategies. Maturity targets are shifted based on the Advisor's expectations for term premiums. The average maturity of the Portfolio decreased to 1.06 years on October 31, 2013, from 1.16 years on October 31, 2012. For the 12 months ended October 31, 2013, total returns were 0.26% for the LWAS/DFA Two-Year Fixed Income Portfolio and 0.86% for The BofA Merrill Lynch 1-3 Year U.S. Corporate & Government Index. Structural differences between the Portfolio and Index were the primary reason for the Portfolio's relative underperformance as compared to the Index. The Portfolio focuses investment in the more highly rated portion of the investment 5 grade universe while the Index is composed of bonds that include the full range of investment grade credit securities. The Portfolio's higher-quality bonds underperformed the lower-quality bonds during this period of credit spread tightening, contributing to a majority of the underperformance as compared to the Index. LWAS/DFA Two-Year Government Portfolio The LWAS/DFA Two-Year Government Portfolio seeks to maximize total returns consistent with preservation of capital by investing in U.S. government securities maturing in two years or less. The investment strategy shifts maturities based on changes in the yield curve. The strategy uses current yields and identifies the maturity range for the highest risk-adjusted expected returns based on potential buy and sell strategies for each eligible country. Maturity targets are shifted based on the Advisor's expectations for term premiums. The average maturity of the Portfolio increased to 1.53 years on October 31, 2013, from 1.26 years on October 31, 2012. For the 12 months ended October 31, 2013, total returns were 0.26% for the LWAS/DFA Two-Year Government Portfolio and 0.53% for The BofA Merrill Lynch 1-3 Year U.S. Treasury & Agency Index. While the Portfolio limits its investments to securities maturing in two years or less, the Index had more than 44% of its weight in securities in the two- to three-year maturity range, which was the highest-performing segment of the short-term portion of the curve and detracted from relative performance. 6 DIMENSIONAL INVESTMENT GROUP INC. DISCLOSURE OF FUND EXPENSES (Unaudited) The following Expense Tables are shown so that you can understand the impact of fees on your investment. All mutual funds have operating expenses. As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports, among others. Operating expenses, legal and audit services, which are deducted from a fund's gross income, directly reduce the investment return of the fund. A fund's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs, in dollars, of investing in the fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period. The Expense Tables below illustrate your fund's costs in two ways. Actual Fund Return This section helps you to estimate the actual expenses after fee waivers that you paid over the period. The "Ending Account Value" shown is derived from the fund's actual return and "Expenses Paid During Period" reflect the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. To do so, simply divide your account value by $1,000 (for example, a $7,500 account value divided by $1,000 = 7.5), then multiply the result by the number given for your fund under the heading "Expenses Paid During Period." Hypothetical Example for Comparison Purposes This section is intended to help you compare your fund's costs with those of other mutual funds. The hypothetical "Ending Account Value" and "Expenses Paid During Period" are derived from the fund's actual expense ratio and an assumed 5% annual return before expenses. In this case, because the return used is not the fund's actual return, the results do not apply to your investment. The example is useful in making comparisons because the SEC requires all mutual funds to calculate expenses based on a 5% annual return. You can assess your fund's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. Please note that the expenses shown in the tables are meant to highlight and help you compare ongoing costs only and do not reflect any transactional costs, if applicable. The "Annualized Expense Ratio" represents the actual expenses for the six-month period indicated. Six Months Ended October 31, 2013 EXPENSE TABLES Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/13 10/31/13 Ratio* Period* --------- --------- ---------- -------- LWAS/DFA U.S. High Book to Market Portfolio** --------------------------------------------- Actual Fund Return............................ $1,000.00 $1,144.20 0.35% $1.89 Hypothetical 5% Annual Return................. $1,000.00 $1,023.44 0.35% $1.79 LWAS/DFA Two-Year Fixed Income Portfolio ---------------------------------------- Actual Fund Return............................ $1,000.00 $1,000.30 0.29% $1.46 Hypothetical 5% Annual Return................. $1,000.00 $1,023.74 0.29% $1.48 7 DISCLOSURE OF FUND EXPENSES CONTINUED Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/13 10/31/13 Ratio* Period* --------- --------- ---------- -------- LWAS/DFA Two-Year Government Portfolio -------------------------------------- Actual Fund Return..................... $1,000.00 $1,001.10 0.28% $1.41 Hypothetical 5% Annual Return.......... $1,000.00 $1,023.79 0.28% $1.43 ---------- * Expenses are equal to the fund's annualized expense ratio for the six-month period, multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period (184), then divided by the number of days in the year (365) to reflect the six-month period. **The Portfolio is a Feeder Fund. The expenses shown reflect the direct expenses of the Feeder Fund and the indirect payment of the Feeder Fund's portion of the expenses of its Master Fund (Affiliated Investment Company). 8 DIMENSIONAL INVESTMENT GROUP INC. DISCLOSURE OF PORTFOLIO HOLDINGS (Unaudited) The SEC requires that all funds file a complete Schedule of Investments with the SEC for their first and third fiscal quarters on Form N-Q. For Dimensional Investment Group Inc., this would be for the fiscal quarters ending January 31 and July 31. The Form N-Q filing must be made within 60 days of the end of the quarter. Dimensional Investment Group Inc. filed its most recent Form N-Q with the SEC on September 27, 2013. It is available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room). PORTFOLIO HOLDINGS The SEC requires that all funds present their categories of portfolio holdings in a table, chart or graph format in their annual and semi-annual shareholder reports, whether or not a Schedule of Investments is utilized. The following table, which presents portfolio holdings as a percent of total investments before short-term investments and collateral for loaned securities, is provided in compliance with such requirement. The categories shown below represent broad industry sectors. Each industry sector consists of one or more specific industry classifications. The categories of industry classification for the Affiliated Investment Company is represented in its Disclosure of Portfolio Holdings, which is included elsewhere within the report. Refer to the Summary Schedule of Portfolio Holdings for the underlying Affiliated Investment Company's holdings which reflect the investments by category. FEEDER FUND Affiliated Investment Company ----------------------------- LWAS/DFA U.S. High Book to Market Portfolio. 100.0% FIXED INCOME PORTFOLIOS LWAS/DFA Two-Year Fixed Income Portfolio Corporate.................................... 10.0% Government................................... 30.4% Foreign Corporate............................ 25.0% Foreign Government........................... 27.9% Supranational................................ 6.7% ----- 100.0% LWAS/DFA Two-Year Government Portfolio Government................................... 100.0% ----- 100.0% 9 LWAS/DFA U.S. HIGH BOOK TO MARKET PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2013 Value+ ----------- AFFILIATED INVESTMENT COMPANY -- (100.0%) Investment in The U.S. Large Cap Value Series of The DFA Investment Trust Company..................... $67,317,586 ----------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANY (Cost $34,853,819)................................ $67,317,586 =========== Summary of the Portfolio's Master Fund's investments as of October 31, 2013, based on their valuation inputs, is located within this report (See Security Valuation Note). See accompanying Notes to Financial Statements. 10 LWAS/DFA TWO-YEAR FIXED INCOME PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2013 Face Amount Value+ ------ ------ (000) AGENCY OBLIGATIONS -- (27.9%) Federal Farm Credit Bank 0.500%, 06/23/15............................. $ 500 $ 501,675 Federal Home Loan Bank 2.375%, 03/14/14............................. 4,800 4,840,325 2.500%, 06/13/14............................. 2,300 2,333,532 0.250%, 02/20/15............................. 4,600 4,601,357 0.375%, 08/28/15............................. 2,000 2,002,926 Federal Home Loan Mortgage Corporation 1.750%, 09/10/15............................. 2,500 2,564,347 Federal National Mortgage Association 4.125%, 04/15/14............................. 1,700 1,730,969 1.125%, 06/27/14............................. 1,200 1,207,832 4.375%, 10/15/15............................. 3,000 3,234,444 1.625%, 10/26/15............................. 3,500 3,587,052 ----------- TOTAL AGENCY OBLIGATIONS.......................... 26,604,459 ----------- BONDS -- (66.3%) Agence Francaise de Developpement 1.250%, 06/09/14............................. 2,000 2,010,760 Asian Development Bank 0.500%, 08/17/15............................. 1,000 1,002,630 Australia & New Zealand Banking Group, Ltd. 3.700%, 01/13/15............................. 1,500 1,556,550 Bank Nederlandse Gemeenten 3.125%, 01/12/15............................. 500 516,228 1.375%, 03/23/15............................. 1,000 1,014,100 2.750%, 07/01/15............................. 500 518,740 Bank of New York Mellon Corp. (The) 3.100%, 01/15/15............................. 700 721,839 2.950%, 06/18/15............................. 1,000 1,039,180 Berkshire Hathaway, Inc. Floating Rate Note (r) 0.964%, 08/15/14............................. 1,500 1,508,755 British Columbia, Province of Canada 2.850%, 06/15/15............................. 2,000 2,080,520 Caisse d'Amortissement de la Dette Sociale 3.500%, 07/01/14............................. 1,000 1,021,104 1.250%, 07/11/14............................. 1,200 1,207,812 Commonwealth Bank of Australia 3.750%, 10/15/14............................. 1,500 1,544,250 3.500%, 03/19/15............................. 300 311,882 Cooperatieve Centrale Raiffeisen- Boerenleenbank BA 1.875%, 12/15/14............................. 2,000 2,029,812 Face Amount Value+ ------ ------ (000) Cooperatieve Centrale Raiffeisen- Boerenleenbank BA Floating Rate Note (r) 0.624%, 01/17/14............................. $ 500 $ 500,492 Council Of Europe Development Bank 4.500%, 06/30/14............................. 1,000 1,027,620 2.750%, 02/10/15............................. 900 927,810 Development Bank of Japan, Inc. 2.875%, 04/20/15............................. 500 517,877 EUROFIMA 4.500%, 03/06/15............................. 1,000 1,054,830 European Investment Bank 4.750%, 10/15/14............................. 900 938,461 2.875%, 01/15/15............................. 1,300 1,340,534 General Electric Capital Corp. 4.875%, 03/04/15............................. 2,000 2,113,478 JPMorgan Chase & Co. 2.050%, 01/24/14............................. 1,000 1,004,057 JPMorgan Chase & Co. Floating Rate Note (r) 1.004%, 05/02/14............................. 700 702,475 KFW 1.500%, 04/04/14............................. 1,800 1,810,476 Kommunalbanken A.S. 1.000%, 06/16/14............................. 1,560 1,566,894 1.000%, 02/09/15............................. 500 504,320 2.750%, 05/05/15............................. 400 414,152 Kommunekredit 0.750%, 09/02/14............................. 1,000 1,003,940 Landwirtschaftliche Rentenbank 4.000%, 02/02/15............................. 500 522,780 Manitoba, Province of Canada 1.375%, 04/28/14............................. 1,000 1,005,145 2.625%, 07/15/15............................. 1,200 1,244,376 National Australia Bank, Ltd. 2.000%, 03/09/15............................. 2,000 2,039,678 1.600%, 08/07/15............................. 500 509,537 Nederlandse Waterschapsbank NV 1.375%, 05/16/14............................. 1,800 1,809,945 1.250%, 10/20/14............................. 800 807,400 Nordea Bank AB 3.700%, 11/13/14............................. 2,000 2,066,200 Oesterreichische Kontrollbank AG 1.375%, 01/21/14............................. 500 501,245 Ontario, Province of Canada 4.500%, 02/03/15............................. 800 841,264 2.950%, 02/05/15............................. 1,300 1,342,133 Quebec, Province of Canada 4.600%, 05/26/15............................. 2,000 2,129,640 Royal Bank of Canada 1.150%, 03/13/15............................. 250 252,304 0.550%, 05/01/15............................. 2,000 2,000,084 11 LWAS/DFA TWO-YEAR FIXED INCOME PORTFOLIO CONTINUED Face Amount Value+ ------ ------ (000) Sanofi 1.625%, 03/28/14............................. $2,000 $2,009,992 Societe Financement de l'Economie Francaise 2.875%, 09/22/14............................. 500 511,373 State of North Rhine-Westphalia 1.625%, 09/17/14............................. 500 505,402 Svensk Exportkredit AB 3.250%, 09/16/14............................. 700 718,116 Svenska Handelsbanken AB Floating Rate Note (r) 0.423%, 10/06/14............................. 300 300,427 Toronto-Dominion Bank (The) Floating Rate Note (r) 0.445%, 05/01/15............................. 2,250 2,251,674 Total Capital Canada, Ltd. 1.625%, 01/28/14............................. 2,000 2,006,230 Toyota Motor Credit Corp. 1.250%, 11/17/14............................. 645 651,269 1.000%, 02/17/15............................. 1,200 1,209,713 Toyota Motor Credit Corp. Floating Rate Note (r) 0.430%, 12/05/14............................. 400 400,543 Face Amount Value+ ------ ------ (000) Westpac Banking Corp. 3.000%, 08/04/15............................. $ 2,000 $ 2,084,466 ----------- TOTAL BONDS...................................... 63,232,514 ----------- U.S. TREASURY OBLIGATIONS -- (2.1%) U.S. Treasury Notes 0.250%, 07/15/15............................. 1,000 999,805 0.250%, 08/15/15............................. 1,000 999,609 ----------- TOTAL U.S. TREASURY OBLIGATIONS.................. 1,999,414 ----------- CERTIFICATES OF DEPOSIT -- (2.1%) Bank of Nova Scotia 0.615%, 08/01/14............................. 2,000 2,004,722 Shares ------ - TEMPORARY CASH INVESTMENTS -- (1.6%) State Street Institutional Liquid Reserves, 0.073%...................................... 1,494,288 1,494,288 ----------- TOTAL INVESTMENTS -- (100.0%) (Cost $95,212,343)............................. $95,335,397 =========== Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): Investments in Securities (Market Value) ------------------------------------------ Level 1 Level 2 Level 3 Total ---------- ----------- ------- ----------- Agency Obligations......... -- $26,604,459 -- $26,604,459 Bonds...................... -- 63,232,514 -- 63,232,514 U.S. Treasury Obligations.. -- 1,999,414 -- 1,999,414 Certificates of Deposit.... -- 2,004,722 -- 2,004,722 Temporary Cash Investments. $1,494,288 -- -- 1,494,288 ---------- ----------- -- ----------- TOTAL...................... $1,494,288 $93,841,109 -- $95,335,397 ========== =========== == =========== See accompanying Notes to Financial Statements. 12 LWAS/DFA TWO-YEAR GOVERNMENT PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2013 Face Amount Value+ ------ ------ (000) AGENCY OBLIGATIONS -- (64.1%) Federal Farm Credit Bank 0.500%, 06/23/15........................................... $ 320 $ 321,072 Federal Home Loan Bank 0.250%, 01/16/15........................................... 10,000 10,008,900 4.500%, 02/18/15........................................... 30,045 31,707,269 2.750%, 03/13/15........................................... 26,455 27,360,449 1.750%, 09/11/15........................................... 22,705 23,297,396 ------------ TOTAL AGENCY OBLIGATIONS..................................... 92,695,086 ------------ U.S. TREASURY OBLIGATIONS -- (35.4%) U.S. Treasury Notes 1.875%, 06/30/15........................................... 39,485 40,538,460 0.250%, 07/15/15........................................... 330 329,936 1.750%, 07/31/15........................................... 2,000 2,051,406 4.250%, 08/15/15........................................... 200 214,180 0.250%, 09/15/15........................................... 7,400 7,393,932 0.250%, 10/15/15........................................... 700 699,261 ------------ TOTAL U.S. TREASURY OBLIGATIONS 51,227,175 ------------ Shares -------- TEMPORARY CASH INVESTMENTS -- (0.5%) State Street Institutional U.S. Government Money Market Fund. 670,682 670,682 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $144,428,581)......................................... $144,592,943 ============ Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): Investments in Securities (Market Value) ------------------------------------------ Level 1 Level 2 Level 3 Total -------- ------------ ------- ------------ Agency Obligations......... -- $ 92,695,086 -- $ 92,695,086 U.S. Treasury Obligations.. -- 51,227,175 -- 51,227,175 Temporary Cash Investments. $670,682 -- -- 670,682 -------- ------------ -- ------------ TOTAL...................... $670,682 $143,922,261 -- $144,592,943 ======== ============ == ============ See accompanying Notes to Financial Statements. 13 DIMENSIONAL INVESTMENT GROUP INC. LWAS/DFA U.S. HIGH BOOK TO MARKET PORTFOLIO STATEMENT OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (Amounts in thousands, except share and per share amounts) ASSETS: Investment in The U.S. Large Cap Value Series of The DFA Investment Trust Company (Affiliated Investment Company) at Value....................................................................................... $ 67,318 Prepaid Expenses and Other Assets........................................................................ 4 ------------ Total Assets........................................................................................ 67,322 ------------ LIABILITIES: Payables: Fund Shares Redeemed................................................................................... 30 Due to Advisor......................................................................................... 1 Accrued Expenses and Other Liabilities................................................................... 25 ------------ Total Liabilities................................................................................... 56 ------------ NET ASSETS............................................................................................... $ 67,266 ============ SHARES OUTSTANDING, $0.01 PAR VALUE (1).................................................................. 3,656,008 ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE................................................. $ 18.40 ============ Investment in Affiliated Investment Company at Cost...................................................... $ 34,854 ============ NET ASSETS CONSIST OF: Paid-In Capital.......................................................................................... $ 32,370 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)................... 38 Accumulated Net Realized Gain (Loss)..................................................................... 2,394 Net Unrealized Appreciation (Depreciation)............................................................... 32,464 ------------ NET ASSETS............................................................................................... $ 67,266 ============ (1) NUMBER OF SHARES AUTHORIZED.......................................................................... 300,000,000 ============ See accompanying Notes to Financial Statements. 14 DIMENSIONAL INVESTMENT GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (Amounts in thousands, except share and per share amounts) LWAS/DFA LWAS/DFA Two-Year Two-Year Fixed Income Government Portfolio Portfolio ------------ ------------ ASSETS: Investments at Value................................................................... $ 93,841 $ 143,922 Temporary Cash Investments at Value & Cost............................................. 1,494 671 Receivables: Interest............................................................................. 493 697 Fund Shares Sold..................................................................... 64 37 Prepaid Expenses and Other Assets...................................................... 4 5 ------------ ------------ Total Assets...................................................................... 95,896 145,332 ------------ ------------ LIABILITIES: Payables: Investment Securities Purchased...................................................... 1,050 -- Fund Shares Redeemed................................................................. 86 78 Due to Advisor....................................................................... 12 18 Accrued Expenses and Other Liabilities................................................. 22 31 ------------ ------------ Total Liabilities................................................................. 1,170 127 ------------ ------------ NET ASSETS............................................................................. $ 94,726 $ 145,205 ============ ============ SHARES OUTSTANDING, $0.01 PAR VALUE (1)................................................ 9,453,079 14,657,382 ============ ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE............................... $ 10.02 $ 9.91 ============ ============ Investments at Cost.................................................................... $ 93,718 $ 143,758 ============ ============ NET ASSETS CONSIST OF: Paid-In Capital........................................................................ $ 94,472 $ 144,742 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income). 24 (5) Accumulated Net Realized Gain (Loss)................................................... 107 304 Net Unrealized Appreciation (Depreciation)............................................. 123 164 ------------ ------------ NET ASSETS............................................................................. $ 94,726 $ 145,205 ============ ============ (1) NUMBER OF SHARES AUTHORIZED........................................................ 300,000,000 300,000,000 ============ ============ See accompanying Notes to Financial Statements. 15 DIMENSIONAL INVESTMENT GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2013 (Amounts in thousands) LWAS/DFA U.S. High LWAS/DFA LWAS/DFA Book to Two-Year Two-Year Market Fixed Income Government Portfolio* Portfolio Portfolio ---------- ------------ ---------- Investment Income Net Investment Income Allocated from Affiliated Investment Company: Dividends.............................................................. $ 1,353 $ -- $ -- Income from Securities Lending......................................... 11 -- -- Expenses Allocated from Affiliated Investment Company.................. (74) -- -- ------- ----- ---- Total Net Investment Income Received from Affiliated Investment Company............................................................ 1,290 -- -- ------- ----- ---- Fund Investment Income Interest............................................................... -- 510 473 ------- ----- ---- Total Investment Income............................................. -- 510 473 ------- ----- ---- Fund Expenses Investment Advisory Services Fees...................................... -- 136 215 Administrative Services Fees........................................... 6 -- -- Accounting & Transfer Agent Fees....................................... 17 18 22 Shareholder Servicing Fees............................................. 97 73 115 Custodian Fees......................................................... -- 3 1 Filing Fees............................................................ 17 18 19 Shareholders' Reports.................................................. 5 7 11 Directors'/Trustees' Fees & Expenses................................... 1 1 2 Professional Fees...................................................... 3 9 14 Other.................................................................. 2 1 2 ------- ----- ---- Total Expenses...................................................... 148 266 401 ------- ----- ---- Net Investment Income (Loss)........................................... 1,142 244 72 ------- ----- ---- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold........................................... 6,899 116 319 Change in Unrealized Appreciation (Depreciation) of: Investment Securities................................................ 11,517 (101) (95) ------- ----- ---- Net Realized and Unrealized Gain (Loss)................................ 18,416 15 224 ------- ----- ---- Net Increase (Decrease) in Net Assets Resulting from Operations.......... $19,558 $ 259 $296 ======= ===== ==== ---------- * Investment Income and Realized and Unrealized Gain (Loss) were allocated from the Portfolio's Master Fund (Affiliated Investment Company). See accompanying Notes to Financial Statements. 16 DIMENSIONAL INVESTMENT GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (Amounts in thousands) LWAS/DFA U.S. High Book LWAS/DFA Two-Year LWAS/DFA Two-Year to Market Portfolio Fixed Income Portfolio Government Portfolio ---------------------- --------------------- ------------------ Year Year Year Year Year Year Ended Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2013 2012 2013 2012 -------- -------- -------- -------- -------- -------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)...................... $ 1,142 $ 1,193 $ 244 $ 361 $ 72 $ 295 Net Realized Gain (Loss) on: Investment Securities Sold...................... 6,899 3,324 116 400 319 974 Change in Unrealized Appreciation (Depreciation) of: Investment Securities........................... 11,517 5,684 (101) (100) (95) (426) -------- -------- -------- -------- -------- -------- Net Increase (Decrease) in Net Assets Resulting from Operations..................... 19,558 10,201 259 661 296 843 -------- -------- -------- -------- -------- -------- Distributions From: Net Investment Income............................. (1,172) (1,185) (271) (393) (116) (413) Net Short-Term Gains.............................. -- -- (360) (461) (955) (774) Net Long-Term Gains............................... -- -- (44) (90) (29) -- -------- -------- -------- -------- -------- -------- Total Distributions............................ (1,172) (1,185) (675) (944) (1,100) (1,187) -------- -------- -------- -------- -------- -------- Capital Share Transactions (1): Shares Issued..................................... 5,461 2,926 18,639 10,153 28,064 17,044 Shares Issued in Lieu of Cash Distributions....... 1,049 1,031 560 753 805 845 Shares Redeemed................................... (18,546) (14,816) (13,383) (14,194) (28,133) (50,714) -------- -------- -------- -------- -------- -------- Net Increase (Decrease) from Capital Share Transactions.................................. (12,036) (10,859) 5,816 (3,288) 736 (32,825) -------- -------- -------- -------- -------- -------- Total Increase (Decrease) in Net Assets........ 6,350 (1,843) 5,400 (3,571) (68) (33,169) Net Assets Beginning of Year................................. 60,916 62,759 89,326 92,897 145,273 178,442 -------- -------- -------- -------- -------- -------- End of Year....................................... $ 67,266 $ 60,916 $ 94,726 $ 89,326 $145,205 $145,273 ======== ======== ======== ======== ======== ======== (1) Shares Issued and Redeemed: Shares Issued..................................... 340 232 1,860 1,010 2,835 1,712 Shares Issued in Lieu of Cash Distributions....... 67 83 56 75 81 85 Shares Redeemed................................... (1,152) (1,163) (1,335) (1,412) (2,841) (5,094) -------- -------- -------- -------- -------- -------- Net Increase (Decrease) from Shares Issued and Redeemed.................................. (745) (848) 581 (327) 75 (3,297) ======== ======== ======== ======== ======== ======== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)............................................ $ 38 $ 182 $ 24 $ 51 $ (5) $ 39 See accompanying Notes to Financial Statements. 17 DIMENSIONAL INVESTMENT GROUP INC. LWAS/DFA U.S. HIGH BOOK TO MARKET PORTFOLIO FINANCIAL HIGHLIGHTS (for a share outstanding throughout each period) LWAS/DFA U.S. High Book to Market Portfolio ------------------------------------------- Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2011 2010 2009 ---------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 13.84 $ 11.96 $ 11.52 $ 9.80 $ 9.04 ------- ------- ------- ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.28 0.25 0.20 0.19 0.18 Net Gains (Losses) on Securities (Realized and Unrealized). 4.57 1.87 0.44 1.72 0.79 ------- ------- ------- ------- ------- Total from Investment Operations.......................... 4.85 2.12 0.64 1.91 0.97 ---------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.29) (0.24) (0.20) (0.19) (0.21) ------- ------- ------- ------- ------- Total Distributions....................................... (0.29) (0.24) (0.20) (0.19) (0.21) ---------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 18.40 $ 13.84 $ 11.96 $ 11.52 $ 9.80 ============================================================= ======== ======== ======== ======== ======== Total Return................................................. 35.41% 18.01% 5.48% 19.71% 11.61% ---------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $67,266 $60,916 $62,759 $67,314 $65,927 Ratio of Expenses to Average Net Assets (B).................. 0.34% 0.34% 0.34% 0.35% 0.38% Ratio of Net Investment Income to Average Net Assets......... 1.77% 1.93% 1.56% 1.78% 2.20% ---------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 18 DIMENSIONAL INVESTMENT GROUP INC. FINANCIAL HIGHLIGHTS (for a share outstanding throughout each period) LWAS/DFA Two-Year Fixed Income Portfolio ------------------------------------------- Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2011 2010 2009 ----------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 10.07 $ 10.10 $ 10.13 $ 10.03 $ 9.84 ------- ------- ------- ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.03 0.04 0.05 0.08 0.19 Net Gains (Losses) on Securities (Realized and Unrealized). -- 0.03 0.03 0.11 0.23 ------- ------- ------- ------- ------- Total from Investment Operations.......................... 0.03 0.07 0.08 0.19 0.42 ----------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.03) (0.04) (0.06) (0.09) (0.23) Net Realized Gains......................................... (0.05) (0.06) (0.05) -- -- ------- ------- ------- ------- ------- Total Distributions....................................... (0.08) (0.10) (0.11) (0.09) (0.23) ----------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 10.02 $ 10.07 $ 10.10 $ 10.13 $ 10.03 ============================================================= ======== ======== ======== ======== ======== Total Return.............................................. 0.26% 0.75% 0.73% 1.89% 4.31% ----------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $94,726 $89,326 $92,897 $89,264 $77,398 Ratio of Expenses to Average Net Assets...................... 0.29% 0.30% 0.30% 0.31% 0.34% Ratio of Net Investment Income to Average Net Assets......... 0.27% 0.40% 0.54% 0.82% 1.92% Portfolio Turnover Rate...................................... 57% 102% 98% 113% 77% ----------------------------------------------------------------------------------------------------------- LWAS/DFA Two-Year Government Portfolio ------------------------------------------------ Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2011 2010 2009 --------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 9.96 $ 9.98 $ 10.07 $ 10.10 $ 9.80 -------- -------- -------- -------- -------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.01 0.02 0.04 0.07 0.18 Net Gains (Losses) on Securities (Realized and Unrealized). 0.02 0.04 0.02 0.13 0.33 -------- -------- -------- -------- -------- Total from Investment Operations.......................... 0.03 0.06 0.06 0.20 0.51 --------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.01) (0.03) (0.04) (0.08) (0.21) Net Realized Gains......................................... (0.07) (0.05) (0.11) (0.15) -- -------- -------- -------- -------- -------- Total Distributions....................................... (0.08) (0.08) (0.15) (0.23) (0.21) --------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 9.91 $ 9.96 $ 9.98 $ 10.07 $ 10.10 ============================================================= ======== ======== ======== ======== ======== Total Return.............................................. 0.26% 0.50% 0.66% 1.98% 5.21% --------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $145,205 $145,273 $178,442 $173,724 $136,508 Ratio of Expenses to Average Net Assets...................... 0.28% 0.28% 0.29% 0.29% 0.31% Ratio of Net Investment Income to Average Net Assets......... 0.05% 0.19% 0.41% 0.72% 1.76% Portfolio Turnover Rate...................................... 160% 111% 127% 166% 112% --------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 19 DIMENSIONAL INVESTMENT GROUP INC. NOTES TO FINANCIAL STATEMENTS A. Organization: Dimensional Investment Group Inc. (the "Fund") is an open-end management investment company registered under the Investment Company Act of 1940, whose shares are generally offered to institutional investors, retirement plans and clients of registered investment advisors. The Fund consists of fifteen portfolios, three of which, LWAS/DFA U.S. High Book to Market Portfolio, LWAS/DFA Two-Year Fixed Income Portfolio and LWAS/DFA Two-Year Government Portfolio (the "Portfolios"), are presented in this report. The remaining operational portfolios are presented in separate reports. LWAS/DFA U.S. High Book to Market Portfolio ("Feeder Fund") primarily invests its assets in The U.S. Large Cap Value Series (the "Series"), a corresponding series of The DFA Investment Trust Company. At October 31, 2013, the Feeder Fund owned 1% of the Series. B. Significant Accounting Policies: The following significant accounting policies are in conformity with accounting principles generally accepted in the United States of America. Such policies are consistently followed by the Fund in preparation of its financial statements. The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the fair value of investments, the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates and those differences could be material. 1. Security Valuation: The Portfolios utilize a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels described below: . Level 1 - inputs are quoted prices in active markets for identical securities (including equity securities, open-end investment companies, futures contracts) . Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) . Level 3 - significant unobservable inputs (including the Portfolios' own assumptions in determining the fair value of investments) Debt securities held by LWAS/DFA Two-Year Fixed Income Portfolio and LWAS/DFA Two-Year Government Portfolio are valued on the basis of evaluated prices provided by one or more pricing services or other reasonably reliable sources including broker/dealers that typically handle the purchase and sale of such securities. Securities which are traded over-the-counter and on a stock exchange generally will be valued according to the broadest and most representative market, and it is expected that for bonds and other fixed income securities, this ordinarily will be the over-the-counter market. Securities for which quotations are not readily available (including restricted securities), or for which market quotations have become unreliable, are valued in good faith at fair value in accordance with procedures adopted by the Board. These valuations are generally categorized as Level 2 in the hierarchy. Fair value pricing may also be used if events that have a significant effect on the value of an investment (as determined in the discretion of the Investment Committee of Dimensional Fund Advisors LP) occur before the net asset value is calculated. When fair value pricing is used, the prices of securities used by the Portfolios may differ from the quoted or published prices for the same securities on their primary markets or exchanges. These securities are generally categorized as Level 2 in the hierarchy. The Feeder Fund's investment reflects its proportionate interest in the net assets of the Series. These valuations are classified as Level 1 in the hierarchy. 20 A summary of the inputs used to value the Portfolios' investments by each major security type, industry and/or country is disclosed previously in this note. Valuation hierarchy tables have been included at the end of the Schedules of Investments. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For the year ended October 31, 2013, there were no significant transfers between Level 1 and Level 2 and no Level 3 investments held by the Portfolios. 2. Deferred Compensation Plan: Each eligible Director/Trustee of the Fund may elect participation in The Fee Deferral Plan for Independent Directors and Trustees (the "Plan"). Under the Plan, effective January 1, 2002, such Directors/Trustees may defer payment of all or a portion of their total fees earned as a Director/Trustee. These deferred amounts may be treated as though such amounts had been invested in shares of the following funds: U.S. Large Cap Value Portfolio; U.S. Core Equity 1 Portfolio; U.S. Core Equity 2 Portfolio; U.S. Vector Equity Portfolio; U.S. Micro Cap Portfolio; DFA International Value Portfolio; International Core Equity Portfolio; Emerging Markets Portfolio; Emerging Markets Core Equity Portfolio; and/or DFA Two-Year Global Fixed Income Portfolio. Contributions made under the Plan and the change in unrealized appreciation (depreciation) and income are included in Directors'/Trustees' Fees & Expenses. Each Director/Trustee has the option to receive their distribution of proceeds in one of the following methods: lump sum; annual installments over a period of agreed upon years; or quarterly installments over a period of agreed upon years. Each Director/Trustee shall have the right in a notice of election (the "Notice") to defer the receipt of the Director's/Trustee's deferred compensation until a date specified by such Director/Trustee in the Notice, which date may not be sooner than the earlier of: (i) the first business day of January following the year in which such Director/Trustee ceases to be a member of the Board; and (ii) five years following the effective date of the Director's/Trustee's first deferral election. If a Director/Trustee who elects to defer fees fails to designate in the Notice a time or date as of which payment of the Director's/Trustee's deferred fee account shall commence, payment of such amount shall commence as of the first business day of January following the year in which the Director/Trustee ceases to be a member of the Board (unless the Director/Trustee files an amended Notice selecting a different distribution date). As of October 31, 2013, none of the Directors/Trustees have requested or received a distribution of proceeds of a deferred fee account. 3. Other: The Feeder Fund recognizes its pro-rata share of net investment income and realized and unrealized gains/losses of investment securities, on a daily basis, from its Series, which is treated as a partnership for federal income tax purposes. Security transactions are accounted for as of the trade date. Costs used in determining realized gains and losses on the sale of investment securities are on the basis of identified cost. Dividend income and distributions to shareholders are recorded on the ex-dividend date. Interest income is recorded on an accrual basis. Discount and premium on debt securities purchased are amortized over the lives of the respective securities, utilizing the effective interest method. Expenses directly attributable to the Portfolios are directly charged. Common expenses of the Fund or Portfolios are allocated using methods approved by the Board, generally based on average net assets. C. Investment Advisor: The Advisor, Dimensional Fund Advisors LP, provides administrative services to the Feeder Fund, including supervision of services provided by others, providing information to shareholders and the Board, and other administrative services. The Advisor provides investment advisory services to the Portfolios. The Advisor receives no additional compensation for the investment advisory services it provides to the Feeder Fund but is compensated for the investment advisory services it provides to the Feeder Fund's Master Fund. For the year ended October 31, 2013, the Portfolios' administrative services fees or investment advisory services fees were accrued daily and paid monthly to the Advisor based on the following effective annual rates of average daily net assets: Administrative Advisory Services Fees Services Fees - -------------- ------------- LWAS/DFA U.S. High Book to Market Portfolio. 0.01% -- LWAS/DFA Two-Year Fixed Income Portfolio.... -- 0.15% LWAS/DFA Two-Year Government Portfolio...... -- 0.15% 21 In addition, pursuant to a Client Service Agreement with LWI Financial Inc. ("LWIF"), the Portfolios pay monthly Shareholder Servicing Fees to LWIF at the following effective annual rates of their average daily net assets: Shareholder Servicing Fees - -------------- LWAS/DFA U.S. High Book to Market Portfolio. 0.15% LWAS/DFA Two-Year Fixed Income Portfolio.... 0.08% LWAS/DFA Two-Year Government Portfolio...... 0.08% Fees Paid to Officers and Directors/Trustees: Certain Officers and Directors/Trustees of the Advisor are also Officers and Directors/Trustees of the Fund; however, such Officers and Directors/Trustees (with the exception of the Chief Compliance Officer ("CCO")) receive no compensation from the Fund. For the year ended October 31, 2013, the total related amounts paid by the Fund to the CCO were $30 (in thousands). The total related amounts paid by each of the Portfolios are included in Other Expenses on the Statement of Operations. D. Deferred Compensation: At October 31, 2013, the total liability for deferred compensation to Directors/Trustees is included in Accrued Expenses and Other Liabilities on the Statement of Assets and Liabilities as follows (amounts in thousands): LWAS/DFA U.S. High Book to Market Portfolio. $3 LWAS/DFA Two-Year Fixed Income Portfolio.... 3 LWAS/DFA Two-Year Government Portfolio...... 6 E. Purchases and Sales of Securities: For the year ended October 31, 2013, the Portfolios made the following purchases and sales of investment securities, other than short-term securities (amounts in thousands): U.S. Government Other Investment Securities Securities ------------------ ----------------- Purchases Sales Purchases Sales --------- -------- --------- ------- LWAS/DFA Two-Year Fixed Income Portfolio. $ 18,479 $ 25,777 $41,864 $22,290 LWAS/DFA Two-Year Government Portfolio... 229,966 227,206 -- -- F. Federal Income Taxes: Each Portfolio has qualified and intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code for federal income tax purposes and to distribute substantially all of its taxable income and net capital gains to its shareholders. Accordingly, no provision has been made for federal income taxes. Distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from those amounts determined under accounting principles generally accepted in the United States of America. These book/tax differences are either temporary or permanent in nature. To the extent these differences are permanent, they are charged or credited to paid-in capital, undistributed net investment income or accumulated net realized gains or losses, as appropriate, in the period that the differences arise. Accordingly, the following permanent differences as of October 31, 2013, primarily 22 attributable to tax equalization. This reclassification had no effect on net assets or net value per share (amounts in the thousands): Increase Increase (Decrease) (Decrease) Increase Undistributed Accumulated (Decrease) Net Investment Net Realized Paid-In Capital Income Gains (Losses) --------------- -------------- -------------- LWAS/DFA U.S. High Book to Market Portfolio. $443 $(114) $(329) LWAS/DFA Two-Year Fixed Income Portfolio.... -- -- -- LWAS/DFA Two-Year Government Portfolio...... -- -- -- The tax character of dividends and distributions declared and paid during the years ended October 31, 2012 and October 31, 2013 were as follows (amounts in thousands): Net Investment Income and Short-Term Long-Term Capital Gains Capital Gains Total -------------- ------------- ------ LWAS/DFA U.S. High Book to Market Portfolio 2012........................................ $1,185 $1,185 2013........................................ 1,172 -- 1,172 LWAS/DFA Two-Year Fixed Income Portfolio 2012........................................ 854 $90 944 2013........................................ 631 44 675 LWAS/DFA Two-Year Government Portfolio 2012........................................ 1,187 1,187 2013........................................ 1,071 29 1,100 At October 31, 2013, the following net investment income and short-term capital gains and long-term capital gains distributions designated for federal income tax purposes are due to the utilization of accumulated earnings and profits distributed to shareholders upon redemption of shares (amounts in thousands): Net Investment Income and Short-Term Long-Term Capital Gains Capital Gains Total -------------- ------------- ----- LWAS/DFA U.S. High Book to Market Portfolio. $114 $329 $443 At October 31, 2013, the components of distributable earnings (accumulated losses) were as follows (amounts in thousands): Undistributed Total Net Net Investment Distributable Income and Undistributed Unrealized Earnings Short-Term Long-Term Appreciation (Accumulated Capital Gains Capital Gains (Depreciation) Losses) -------------- ------------- -------------- ------------- LWAS/DFA U.S. High Book to Market Portfolio. $ 42 $2,396 $32,462 $34,900 LWAS/DFA Two-Year Fixed Income Portfolio.... 88 46 123 257 LWAS/DFA Two-Year Government Portfolio...... 126 179 164 469 For federal income tax purposes, the Fund measures its capital loss carryforwards annually at October 31, its fiscal year end. Capital loss carryforwards may be carried forward and applied against future capital gains. Under the Regulated Investment Company Modernization Act of 2010, capital losses incurred by these Portfolios after October 31, 2011 will not be subject to expiration and will retain their character as either short-term or long-term capital losses. In addition, such losses must be utilized prior to the losses incurred in the years preceding enactment. As of October 31, 2013, the Portfolio had no capital loss carryforwards available to offset future realized capital gains. 23 During the year ended October 31, 2012, the Portfolio utilized the following capital loss carryforwards to offset realized capital gains for federal income tax purposes (amounts in thousands). LWAS/DFA U.S. High Book to Market Portfolio. $4,175 At October 31, 2013, the total cost and aggregate gross unrealized appreciation (depreciation) of securities for federal income tax purposes were different from amounts reported for financial reporting purposes (amounts in thousands): Net Unrealized Federal Unrealized Unrealized Appreciation Tax Cost Appreciation Depreciation (Depreciation) -------- ------------ ------------ -------------- LWAS/DFA U.S. High Book to Market Portfolio. $ 34,855 $32,462 -- $32,462 LWAS/DFA Two-Year Fixed Income Portfolio.... 95,212 124 $(1) 123 LWAS/DFA Two-Year Government Portfolio...... 144,429 165 (1) 164 The difference between book basis and tax-basis unrealized appreciation (depreciation) is primarily attributable to the tax deferral of losses on wash sales and investments in passive foreign investment companies. Accounting for Uncertainty in Income Taxes sets forth a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken on a tax return. Management has analyzed each Portfolios' tax positions and has concluded that no additional provision for income tax is required in any Portfolio's financial statements. No Portfolio is aware of any tax positions for which it is more likely than not that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. Each of the Portfolio's federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service. G. Line of Credit: The Fund, together with other Dimensional-advised portfolios, entered into a $250 million unsecured discretionary line of credit effective June 22, 2011 with The Bank of New York Mellon, which was terminated by The Bank of New York Mellon effective March 29, 2013. Prior to termination, each portfolio was permitted to borrow, subject to its investment limitations, up to a maximum of $250 million, as long as total borrowings under the line of credit did not exceed $250 million in the aggregate. Borrowings under the line of credit were charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio was individually, and not jointly, liable for its particular advances under the line of credit. There was no commitment fee on the unused portion of the line of credit. The Fund, together with other Dimensional-advised portfolios, has entered into a $500 million unsecured discretionary line of credit effective March 4, 2013 with its domestic custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. There is no commitment fee on the unused portion of the line of credit. The agreement for the discretionary line of credit may be terminated by either party at any time. The line of credit is scheduled to expire on March 3, 2014. The Fund, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit effective January 11, 2013 with its international custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. There is no commitment fee on the unused portion of the line of credit. The agreement for the line of credit expires on January 10, 2014. There were no borrowings by the Portfolios under the lines of credit during the year ended October 31, 2013. 24 H. Indemnitees; Contractual Obligations: Under the Fund's organizational documents, its officers and directors are indemnified against certain liabilities arising out of the performance of their duties to the Fund. In the normal course of business, the Fund enters into contracts that contain a variety of representations and warranties which provide general indemnification. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund and/or its affiliates that have not yet occurred. However, based on experience, the Fund expects the risk of loss to be remote. I. Recently Issued Accounting Standards: In January 2013, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") No. 2013-01 "Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities" ("ASU 2013-01") which amended Accounting Standards Codification Subtopic 210-20, Balance Sheet Offsetting. ASU 2013-01 clarified the scope of ASU No. 2011-11 "Disclosures about Offsetting Assets and Liabilities" ("ASU 2011-11"). ASU 2011-11 requires an entity to disclose information about offsetting and related arrangements to enable users of that entity's financial statements to understand the effect of those arrangements on its financial position. ASU 2013-01 clarifies the scope of ASU 2011-11 as applying to derivatives accounted for in accordance with Topic 815, Derivatives and Hedging, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are offset either in accordance with other requirements of GAAP or subject to an enforceable master netting arrangement or similar agreement. ASU No. 2011-11 is effective for annual periods beginning on or after January 1, 2013, and interim periods within those annual periods. Management is evaluating any impact ASU No. 2011-11 may have on the financial statements. J. Other: At October 31, 2013, the following number of shareholders held the following approximate percentages of the stated fund outstanding shares. One or more of the shareholders may be omnibus accounts, which typically hold shares for the benefit of several other underlying investors. Approximate Percentage Number of of Outstanding Shareholders Shares ------------ -------------- LWAS/DFA U.S. High Book to Market Portfolio. 2 97% LWAS/DFA Two-Year Fixed Income Portfolio.... 3 97% LWAS/DFA Two-Year Government Portfolio...... 2 92% The Portfolios are subject to claims and suits that arise from time to time in the ordinary course of business (for example, in The Tribune Company Bankruptcy, certain creditors have filed actions against all shareholders of The Tribune Company who tendered shares when the Tribune Company went private in 2007 in a leveraged buyout transaction, seeking the return of proceeds received by the shareholders). Although management currently believes that resolving claims against us, individually or in aggregate, will not have a material adverse impact on our financial position, our results of operations, or our cash flows, these matters are subject to inherent uncertainties and management's view of these matters may change in the future. The U.S. Large Cap Value Series has been named as a defendant in a multi-district litigation pending in the United States District Court for the Southern District of New York (the "Court"), captioned In re Tribune Company Fraudulent Conveyance Litigation, No. 11-MD-2296-RJS (the "Tribune MDL"). The Tribune MDL arises from the 2007 leveraged buyout of The Tribune Company ("Tribune") (the "LBO") and Tribune's subsequent bankruptcy and reorganization. In connection with the LBO, thousands of Tribune shareholders, including The U.S. Large Cap Value Series, sold Tribune shares back to Tribune for $34 per share. The Tribune MDL includes a series of lawsuits brought by individual creditors of Tribune (the "Individual Creditor Actions") and a lawsuit brought by a court-appointed trustee on behalf of the committee of unsecured creditors of Tribune (the "Committee Action," and with the Individual Creditor Actions, collectively referred to as the "Lawsuits"). The Lawsuits seek to unwind the 25 LBO stock repurchases as fraudulent transfers and recover the stock repurchase proceeds paid to the Tribune shareholders who participated in the LBO. On September 23, 2013, the Court entered an order dismissing the Individual Creditor Actions in their entirety on the grounds that the individual creditor plaintiffs lack standing to pursue their claims. The Court's dismissal order is on appeal to the Second Circuit. The Committee Action remains pending, and the Court currently is coordinating with the parties to establish a schedule for motions to dismiss in the Committee Action. Litigation counsel to The U.S. Large Cap Value Series in the Lawsuits does not believe that it is possible, at this early stage in the proceedings, to predict with any reasonable certainty the probable outcome of the Lawsuits or quantify the ultimate exposure to The U.S. Large Cap Value Series arising from the Lawsuits. Until The U.S. Large Cap Value Series can do so, no reduction of the net asset value of The U.S. Large Cap Value Series will be made relating to the Lawsuits. However, even if the plaintiffs in the Lawsuits were to obtain the full recovery the plaintiffs seek, the amount would be less than 1% of The U.S. Large Cap Value Series' net asset value at this time. The U.S. Large Cap Value Series also cannot predict what its size might be at the time the cost of the Lawsuits might be quantifiable and thus potentially deducted from its net asset value. Therefore, at this time, those investors buying or redeeming shares of The U.S. Large Cap Value Series will pay or receive, as the case may be, a price based on the net asset value of The U.S. Large Cap Value Series, with no adjustment relating to the Lawsuits. The attorneys' fees and costs relating to the Lawsuits will be taken as expenses by The U.S. Large Cap Value Series as incurred and in a manner similar to any other expense incurred by The U.S. Large Cap Value Series. K. Subsequent Event Evaluations: Management has evaluated the impact of all subsequent events on the Portfolios and has determined that there are no subsequent events requiring recognition or disclosure in the financial statements. 26 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Shareholders of the Portfolios, as defined, and Board of Directors of Dimensional Investment Group Inc.: In our opinion, the accompanying statements of assets and liabilities, including the schedules of investments, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of LWAS/DFA U.S. High Book to Market Portfolio, LWAS/DFA Two-Year Fixed Income Portfolio and LWAS/DFA Two-Year Government Portfolio (constituting portfolios within Dimensional Investment Group Inc., hereafter referred to as the "Portfolios") at October 31, 2013, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period then ended and the financial highlights for each of the five years in the period then ended, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as "financial statements") are the responsibility of the Portfolios' 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, 2013 by correspondence with the custodian, brokers, and the transfer agent of the investee fund, provide a reasonable basis for our opinion. PricewaterhouseCoopers LLP Philadelphia, Pennsylvania December 20, 2013 27 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- LWAS/DFA INTERNATIONAL HIGH BOOK TO MARKET PORTFOLIO VS. MSCI WORLD EX USA INDEX (NET DIVIDENDS) October 31, 2003-October 31, 2013 [CHART] LWAS/DFA International MSCI World ex USA Index High Book to Market Portfolio (net dividends) ----------------------------- ------------------------ 10/31/2003 $10,000 $10,000 11/30/2003 10,212 10,227 12/31/2003 10,975 11,011 1/31/2004 11,258 11,164 2/29/2004 11,590 11,421 3/31/2004 11,773 11,478 4/30/2004 11,416 11,178 5/31/2004 11,524 11,230 6/30/2004 11,998 11,489 7/31/2004 11,552 11,139 8/31/2004 11,704 11,185 9/30/2004 12,073 11,511 10/31/2004 12,538 11,925 11/30/2004 13,468 12,718 12/31/2004 14,136 13,255 1/31/2005 13,988 12,994 2/28/2005 14,537 13,572 3/31/2005 14,176 13,264 4/30/2005 13,740 12,926 5/31/2005 13,758 12,950 6/30/2005 13,976 13,161 7/31/2005 14,594 13,586 8/31/2005 15,080 13,961 9/30/2005 15,496 14,599 10/31/2005 15,256 14,127 11/30/2005 15,531 14,501 12/31/2005 16,289 15,173 1/31/2006 17,394 16,133 2/28/2006 17,563 16,079 3/31/2006 18,302 16,589 4/30/2006 19,220 17,382 5/31/2006 18,443 16,722 6/30/2006 18,320 16,700 7/31/2006 18,596 16,857 8/31/2006 19,232 17,336 9/30/2006 19,493 17,322 10/31/2006 20,358 18,006 11/30/2006 21,030 18,543 12/31/2006 21,846 19,074 1/31/2007 22,252 19,191 2/28/2007 22,232 19,344 3/31/2007 22,948 19,840 4/30/2007 24,098 20,742 5/31/2007 24,920 21,203 6/30/2007 24,728 21,224 7/31/2007 24,033 20,931 8/31/2007 23,762 20,628 9/30/2007 24,999 21,800 10/31/2007 26,203 22,748 11/30/2007 24,614 21,858 12/31/2007 24,084 21,447 1/31/2008 22,124 19,513 2/29/2008 21,841 19,867 3/31/2008 22,094 19,583 4/30/2008 23,075 20,672 5/31/2008 23,085 20,986 6/30/2008 20,797 19,354 7/31/2008 20,205 18,665 8/31/2008 19,357 17,943 9/30/2008 17,094 15,353 10/31/2008 12,804 12,159 11/30/2008 12,018 11,500 12/31/2008 12,899 12,106 1/31/2009 11,114 10,976 2/28/2009 9,749 9,865 3/31/2009 10,811 10,515 4/30/2009 12,809 11,871 5/31/2009 14,701 13,373 6/30/2009 14,477 13,234 7/31/2009 16,187 14,477 8/31/2009 17,113 15,170 9/30/2009 17,991 15,796 10/31/2009 17,275 15,543 11/30/2009 17,776 15,927 12/31/2009 17,978 16,181 1/31/2010 16,947 15,423 2/28/2010 17,001 15,407 3/31/2010 18,334 16,399 4/30/2010 18,027 16,155 5/31/2010 15,909 14,372 6/30/2010 15,615 14,164 7/31/2010 17,581 15,473 8/31/2010 16,718 15,011 9/30/2010 18,504 16,451 10/31/2010 19,150 17,037 11/30/2010 18,172 16,315 12/31/2010 19,867 17,629 1/31/2011 20,715 18,009 2/28/2011 21,405 18,676 3/31/2011 20,813 18,302 4/30/2011 21,919 19,299 5/31/2011 21,109 18,727 6/30/2011 20,818 18,460 7/31/2011 20,155 18,156 8/31/2011 17,985 16,621 9/30/2011 16,022 14,952 10/31/2011 17,559 16,406 11/30/2011 16,973 15,648 12/31/2011 16,509 15,477 1/31/2012 17,622 16,312 2/29/2012 18,543 17,209 3/31/2012 18,383 17,082 4/30/2012 17,718 16,792 5/31/2012 15,530 14,878 6/30/2012 16,626 15,852 7/31/2012 16,560 16,050 8/31/2012 17,239 16,508 9/30/2012 17,847 17,009 10/31/2012 18,067 17,128 11/30/2012 18,353 17,488 12/31/2012 19,257 18,017 1/31/2013 20,161 18,903 2/28/2013 19,543 18,715 3/31/2013 19,597 18,863 4/30/2013 20,573 19,722 5/31/2013 20,311 19,281 6/30/2013 19,602 18,558 7/31/2013 20,934 19,546 8/31/2013 20,789 19,294 Past performance is not predictive of 9/30/2013 22,331 20,657 future performance. 10/31/2013 23,109 21,350 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the Average Annual One Five Ten redemption of fund shares. Total Return Year Years Years ---------------------------------------------------------- MSCI data copyright MSCI 2013, all 27.91% 12.54% 8.74% rights reserved. -------------------------------------------------------------------------------- 28 DFA INVESTMENT DIMENSIONS GROUP INC. MANAGEMENT'S DISCUSSION AND ANALYSIS International Equity Market Review 12 Months Ended October 31, 2013 The one-year period ended October 31, 2013, was characterized by generally positive monthly returns in the international equity markets with the exception of a sharp decline from May to June and a smaller decline in August. As measured by the MSCI indices below for developed markets outside the U.S., small cap stocks generally outperformed large cap stocks while value stocks outperformed growth stocks. 12 Months Ended October 31, 2013 -------------------------------- U.S. Dollar Return - ------------------ MSCI World ex USA Index........... 24.65% MSCI World ex USA Small Cap Index. 27.81% MSCI World ex USA Value Index..... 26.12% MSCI World ex USA Growth Index.... 23.17% During the period, the U.S. dollar (USD) was mixed against developed markets currencies. While the U.S. dollar depreciated against the euro, Swiss franc, and several other European-based developed markets currencies, it appreciated against the sterling, Canadian dollar, Australian dollar and Japanese yen. 12 Months Ended October 31, 2013 -------------------------------- Ten Largest Foreign Developed Markets by Market Cap Local Currency Return U.S. Dollar Return --------------------------------------------------- --------------------- ------------------ United Kingdom.................... 20.70% 20.37% Japan............................. 64.48% 34.00% Canada............................ 10.59% 5.99% France............................ 27.55% 33.82% Australia......................... 26.44% 15.47% Switzerland....................... 27.49% 31.10% Germany........................... 24.72% 30.85% Spain............................. 30.69% 37.11% Sweden............................ 24.39% 27.55% Hong Kong......................... 14.30% 14.25% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2013, all rights reserved. Master-Feeder Structure Certain portfolios described below, called "Feeder Funds," do not buy individual securities directly; instead, these portfolios invest in corresponding funds called "Master Funds." Master Funds, in turn, purchase stocks and/or other securities. International Equity Portfolio's Performance Overview LWAS/DFA International High Book to Market Portfolio The LWAS/DFA International High Book to Market Portfolio seeks to capture the returns of international large company value stocks by purchasing shares of The DFA International Value Series, a Master Fund that invests in such stocks. Value is measured primarily by book-to-market ratio. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Master Fund held approximately 520 securities in 22 eligible developed countries. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Master Fund's assets. 29 For the 12 months ending October 31, 2013, total returns were 27.91% for the Portfolio and 24.65% for the MSCI World ex USA Index (net dividends). The Master Fund focuses on value stocks, as measured by book-to-market, while the Index is neutral with regard to value or growth. As large cap value stocks outperformed large cap growth stocks during the period, the Master Fund's significantly greater exposure than the Index to these securities contributed to the Portfolio's relative outperformance relative to the Index. In particular, the Master Fund's greater exposure to stocks with lower valuations in the financial sector was beneficial as these names outperformed the Index. The Master Fund's exclusion of real estate investment trusts ("REITs") also benefited relative performance as REITs underperformed during the period. Differences in the valuation timing and methodology between the Master Fund and the Index generally detracted from relative performance. The Master Fund prices foreign exchange rates at the closing of the U.S. markets while the Index uses rates at 4 pm London time. The Master Fund also may use fair value pricing to price certain portfolio securities at the closing of the U.S. markets while the Index uses local market closing prices. 30 DFA INVESTMENT DIMENSIONS GROUP INC. LWAS/DFA INTERNATIONAL HIGH BOOK TO MARKET PORTFOLIO DISCLOSURE OF FUND EXPENSES (Unaudited) The following Expense Table is shown so that you can understand the impact of fees on your investment. All mutual funds have operating expenses. As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports, among others. Operating expenses, legal and audit services, which are deducted from a fund's gross income, directly reduce the investment return of the fund. A fund's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs, in dollars, of investing in the fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period. The Expense Table below illustrates your fund's costs in two ways. Actual Fund Return This section helps you to estimate the actual expenses after fee waivers that you paid over the period. The "Ending Account Value" shown is derived from the fund's actual return and "Expenses Paid During Period" reflect the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. To do so, simply divide your account value by $1,000 (for example, a $7,500 account value divided by $1,000 = 7.5), then multiply the result by the number given for your fund under the heading "Expenses Paid During Period." Hypothetical Example for Comparison Purposes This section is intended to help you compare your fund's costs with those of other mutual funds. The hypothetical "Ending Account Value" and "Expenses Paid During Period" are derived from the fund's actual expense ratio and an assumed 5% annual return before expenses. In this case, because the return used is not the fund's actual return, the results do not apply to your investment. The example is useful in making comparisons because the SEC requires all mutual funds to calculate expenses based on a 5% annual return. You can assess your fund's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. Please note that the expenses shown in the table are meant to highlight and help you compare ongoing costs only and do not reflect any transactional costs, if applicable. The "Annualized Expense Ratio" represents the actual expenses for the six-month period indicated. Six Months Ended October 31, 2013 EXPENSE TABLES Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/13 10/31/13 Ratio* Period* --------- --------- ---------- -------- LWAS/DFA International High Book to Market Portfolio ---------------------------------------------------- Actual Fund Return................................... $1,000.00 $1,123.30 0.50% $2.68 Hypothetical 5% Annual Return........................ $1,000.00 $1,022.68 0.50% $2.55 ---------- * Expenses are equal to the fund's annualized expense ratio for the six-month period, multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period (184), then divided by the number of days in the year (365) to reflect the six-month period. **The Portfolio is a Feeder Fund. The expenses shown reflect the direct expenses of the Feeder Fund and the indirect payment of the Feeder Fund's portion of the expenses of its Master Fund (Affiliated Investment Company). 31 DFA INVESTMENT DIMENSIONS GROUP INC. LWAS/DFA INTERNATIONAL HIGH BOOK TO MARKET PORTFOLIO DISCLOSURE OF PORTFOLIO HOLDINGS (Unaudited) The SEC requires that all funds file a complete Schedule of Investments with the SEC for their first and third fiscal quarters on Form N-Q. For DFA Investment Dimensions Group Inc., this would be for the fiscal quarters ending January 31 and July 31. The Form N-Q filing must be made within 60 days of the end of the quarter. DFA Investment Dimensions Group Inc. filed its most recent Form N-Q with the SEC on September 27, 2013. It is available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room). PORTFOLIO HOLDINGS The SEC requires that all funds present their categories of portfolio holdings in a table, chart or graph format in their annual and semi-annual shareholder reports, whether or not a Schedule of Investments is utilized. The following table, which presents portfolio holdings as a percent of total investments before short-term investments and collateral for loaned securities, is provided in compliance with such requirement. The categories of industry classification for the Affiliated Investment Company are represented in its Disclosure of Portfolio Holdings, which is included elsewhere within the report. Refer to the Summary Schedule of Portfolio Holdings for the underlying Affiliated Investment Company's holdings which reflect the investments by country. Affiliated Investment Company. 100.0% 32 LWAS/DFA INTERNATIONAL HIGH BOOK TO MARKET PORTFOLIO SCHEDULE OF INVESTMENTS October 31, 2013 Value+ ------ AFFILIATED INVESTMENT COMPANY -- (100.0%) Investment in The DFA International Value Series of The DFA Investment Trust Company.................................. $77,999,284 ----------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANY (Cost $62,477,211)........................................... $77,999,284 =========== Summary of the Portfolio's Master Fund's investments as of October 31, 2013, based on their valuation inputs, is located within this report (See Security Valuation Note). See accompanying Notes to Financial Statements. 33 DFA INVESTMENT DIMENSIONS GROUP INC. LWAS/DFA INTERNATIONAL HIGH BOOK TO MARKET PORTFOLIO STATEMENT OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (Amounts in thousands, except share and per share amounts) ASSETS: Investment in The DFA International Value Series of The DFA Investment Trust Company (Affiliated Investment Company) at Value.................................................................... $ 77,999 Prepaid Expenses and Other Assets................................................................ 11 ------------ Total Assets................................................................................ 78,010 ------------ LIABILITIES: Payables: Fund Shares Redeemed........................................................................... 77 Due to Advisor................................................................................. 1 Accrued Expenses and Other Liabilities........................................................... 31 ------------ Total Liabilities........................................................................... 109 ------------ NET ASSETS....................................................................................... $ 77,901 ============ SHARES OUTSTANDING, $0.01 PAR VALUE (1).......................................................... 8,200,958 ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE......................................... $ 9.50 ============ Investment in Affiliated Investment Company at Cost.............................................. $ 62,477 ============ NET ASSETS CONSIST OF: Paid-In Capital.................................................................................. $ 58,879 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)........... 64 Accumulated Net Realized Gain (Loss)............................................................. 3,426 Net Unrealized Foreign Exchange Gain (Loss)...................................................... 10 Net Unrealized Appreciation (Depreciation)....................................................... 15,522 ============ NET ASSETS....................................................................................... $ 77,901 ============ (1) NUMBER OF SHARES AUTHORIZED.................................................................. 200,000,000 ============ See accompanying Notes to Financial Statements. 34 DFA INVESTMENT DIMENSIONS GROUP INC. LWAS/DFA INTERNATIONAL HIGH BOOK TO MARKET PORTFOLIO* STATEMENT OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2013 (Amounts in thousands) Investment Income Dividends (Net of Foreign Taxes Withheld of $177)............. $ 2,311 Income from Securities Lending................................ 119 Expenses Allocated from Affiliated Investment Company......... (160) ------- Total Investment Income.................................... 2,270 ------- Expenses Administrative Services Fees.................................. 7 Accounting & Transfer Agent Fees.............................. 19 Shareholder Servicing Fees.................................... 136 Filing Fees................................................... 18 Shareholders' Reports......................................... 6 Directors'/Trustees' Fees & Expenses.......................... 1 Professional Fees............................................. 3 Other......................................................... 1 ------- Total Expenses............................................. 191 ------- Net Investment Income (Loss).................................. 2,079 ------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold.................................. 3,625 Futures..................................................... (14) Foreign Currency Transactions............................... (20) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency.................. 11,905 Translation of Foreign Currency Denominated Amounts......... 6 ------- Net Realized and Unrealized Gain (Loss)....................... 15,502 ------- Net Increase (Decrease) in Net Assets Resulting from Operations. $17,581 ======= ---------- * Investment Income and Realized and Unrealized Gain (Loss) were allocated from the Portfolio's Master Fund (Affiliated Investment Company). See accompanying Notes to Financial Statements. 35 DFA INVESTMENT DIMENSIONS GROUP INC. LWAS/DFA INTERNATIONAL HIGH BOOK TO MARKET PORTFOLIO STATEMENTS OF CHANGES IN NET ASSETS (Amounts in thousands) Year Year Ended Ended Oct. 31, Oct. 31, 2013 2012 - -------- -------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)......................................................... $ 2,079 $ 2,343 Net Realized Gain (Loss) on: Investment Securities Sold......................................................... 3,625 4,492 Futures............................................................................ (14) -- Foreign Currency Transactions...................................................... (20) (13) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency......................................... 11,905 (5,013) Translation of Foreign Currency Denominated Amounts................................ 6 (3) -------- -------- Net Increase (Decrease) in Net Assets Resulting from Operations................... 17,581 1,806 -------- -------- Distributions From: Net Investment Income................................................................ (2,242) (2,327) Net Long-Term Gains.................................................................. (4,494) (2,965) -------- -------- Total Distributions............................................................... (6,736) (5,292) -------- -------- Capital Share Transactions (1): Shares Issued........................................................................ 7,334 7,815 Shares Issued in Lieu of Cash Distributions.......................................... 5,799 4,540 Shares Redeemed...................................................................... (12,977) (14,825) -------- -------- Net Increase (Decrease) from Capital Share Transactions........................... 156 (2,470) -------- -------- Total Increase (Decrease) in Net Assets........................................... 11,001 (5,956) Net Assets Beginning of Year.................................................................... 66,900 72,856 -------- -------- End of Year.......................................................................... $ 77,901 $ 66,900 ======== ======== (1) Shares Issued and Redeemed: Shares Issued........................................................................ 869 997 Shares Issued in Lieu of Cash Distributions.......................................... 723 603 Shares Redeemed...................................................................... (1,527) (1,858) -------- -------- Net Increase (Decrease) from Shares Issued and Redeemed........................... 65 (258) ======== ======== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income). $ 64 $ 336 See accompanying Notes to Financial Statements. 36 DFA INVESTMENT DIMENSIONS GROUP INC. LWAS/DFA INTERNATIONAL HIGH BOOK TO MARKET PORTFOLIO FINANCIAL HIGHLIGHTS (for a share outstanding throughout each period) Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2011 2010 2009 ----------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Year........................... $ 8.22 $ 8.68 $ 10.38 $ 9.66 $ 11.40 ------- ------- ------- ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)........................... 0.25 0.28 0.32 0.22 0.25 Net Gains (Losses) on Securities (Realized and Unrealized). 1.87 (0.10) (1.09) 0.79 2.14 ------- ------- ------- ------- ------- Total from Investment Operations.......................... 2.12 0.18 (0.77) 1.01 2.39 ----------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income...................................... (0.27) (0.28) (0.31) (0.23) (0.27) Net Realized Gains......................................... (0.57) (0.36) (0.62) (0.06) (3.86) ------- ------- ------- ------- ------- Total Distributions....................................... (0.84) (0.64) (0.93) (0.29) (4.13) ----------------------------------------------------------------------------------------------------------- Net Asset Value, End of Year................................. $ 9.50 $ 8.22 $ 8.68 $ 10.38 $ 9.66 ============================================================= ======== ======== ======== ======== ======== Total Return................................................. 27.91% 2.89% (8.30)% 10.85% 34.92% ----------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $77,901 $66,900 $72,856 $85,892 $85,504 Ratio of Expenses to Average Net Assets (B).................. 0.49% 0.50% 0.49% 0.50% 0.52% Ratio of Net Investment Income to Average Net Assets......... 2.91% 3.49% 3.24% 2.29% 2.99% ----------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 37 DFA INVESTMENT DIMENSIONS GROUP INC. LWAS/DFA INTERNATIONAL HIGH BOOK TO MARKET PORTFOLIO NOTES TO FINANCIAL STATEMENTS A. Organization: DFA Investment Dimensions Group Inc. (the "Fund") is an open-end management investment company registered under the Investment Company Act of 1940, whose shares are offered to institutional investors, retirement plans and clients of registered investment advisors. The Fund consists of seventy-six operational portfolios, one of which, LWAS/DFA International High Book to Market Portfolio (the "Portfolio"), is presented in this report. The remaining operational portfolios are presented in separate reports. The Portfolio primarily invests its assets in The DFA International Value Series (the "Series"), a corresponding series of The DFA Investment Trust Company. At October 31, 2013, the Portfolio owned 1% of the Series. B. Significant Accounting Policies: The following significant accounting policies are in conformity with accounting principles generally accepted in the United States of America. Such policies are consistently followed by the Fund in preparation of its financial statements. The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the fair value of investments, the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates and those differences could be material. 1. Security Valuation: The Portfolio utilizes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels described below: . Level 1 - inputs are quoted prices in active markets for identical securities (including equity securities, open-end investment companies, futures contracts) . Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) . Level 3 - significant unobservable inputs (including the Portfolio's own assumptions in determining the fair value of investments) The Portfolio's investment reflect its proportionate interest in the net assets of the Series. These valuations are classified as Level 1 in the hierarchy. A summary of the inputs used to value the Portfolio's investments is disclosed previously in this note. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For the year ended October 31, 2013, there were no significant transfers between Level 1 and Level 2 and no Level 3 investments held by the Portfolio. 2. Deferred Compensation Plan: Each eligible Director/Trustee of the Fund may elect participation in The Fee Deferral Plan for Independent Directors and Trustees (the "Plan"). Under the Plan, effective January 1, 2002, such Directors/Trustees may defer payment of all or a portion of their total fees earned as a Director/Trustee. These deferred amounts may be treated as though such amounts had been invested in shares of the following funds: U.S. Large Cap Value Portfolio; U.S. Core Equity 1 Portfolio; U.S. Core Equity 2 Portfolio; U.S. Vector Equity Portfolio; U.S. Micro Cap Portfolio; DFA International Value Portfolio; International Core Equity Portfolio; Emerging Markets Portfolio; Emerging Markets Core Equity Portfolio; and/or DFA Two-Year Global Fixed Income Portfolio. Contributions made under the Plan and the change in unrealized appreciation (depreciation) and income are included in Directors'/Trustees' Fees & Expenses. At October 31, 2013, the total liability for deferred compensation to Directors/Trustees is included in Accrued Expenses and Other Liabilities on the Statement of Assets and Liabilities in the amount of $3 (in thousands). 38 Each Director/Trustee has the option to receive their distribution of proceeds in one of the following methods: lump sum; annual installments over a period of agreed upon years; or quarterly installments over a period of agreed upon years. Each Director/Trustee shall have the right in a notice of election (the "Notice") to defer the receipt of the Director's/Trustee's deferred compensation until a date specified by such Director/Trustee in the Notice, which date may not be sooner than the earlier of: (i) the first business day of January following the year in which such Director/Trustee ceases to be a member of the Board; and (ii) five years following the effective date of the Director's/Trustee's first deferral election. If a Director/Trustee who elects to defer fees fails to designate in the Notice a time or date as of which payment of the Director's/Trustee's deferred fee account shall commence, payment of such amount shall commence as of the first business day of January following the year in which the Director/Trustee ceases to be a member of the Board (unless the Director/Trustee files an amended Notice selecting a different distribution date). As of October 31, 2013, none of the Directors/Trustees have requested or received a distribution of proceeds of a deferred fee account. 3. Other: The Portfolio recognizes its pro-rata share, on a daily basis, of net investment income and realized and unrealized gains and losses of investment securities and foreign currency from the Series, which is treated as a partnership for federal income tax purposes. Distributions received on securities that represent a return of capital or capital gains are recorded as a reduction of cost of investments or as a realized gain, respectively. Expenses directly attributable to the Portfolio are directly charged. Common expenses of the Fund or its Portfolios are allocated using methods approved by the Board, generally based on average net assets. C. Investment Advisor: The Advisor, Dimensional Fund Advisors LP, provides administrative services to the Portfolio, including supervision of services provided by others, providing information to shareholders and the Board, and other administrative services. The Advisor provides investment advisory services to the Series. For the year ended October 31, 2013, the Portfolio's administrative services fees were accrued daily and paid monthly to the Advisor based on an effective annual rate of 0.01% of average daily net assets of the Portfolio. In addition, pursuant to a Client Service Agreement with LWI Financial Inc. ("LWIF"), the Portfolio pays a monthly Shareholder Servicing Fee to LWIF an effective annual rate of 0.19% of its average daily net assets: Fees Paid to Officers and Directors/Trustees: Certain Officers and Directors/Trustees of the Advisor are also Officers and Directors/Trustees of the Fund; however, such Officers and Directors/Trustees (with the exception of the Chief Compliance Officer ("CCO")) receive no compensation from the Fund. For the year ended October 31, 2013, the total related amounts paid by the Fund to the CCO were $250 (in thousands). The total related amounts paid by the Portfolio are included in Other Expenses on the Statement of Operations. D. Federal Income Taxes: The Portfolio has qualified and intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code for federal income tax purposes and to distribute substantially all of its taxable income and net capital gains to its shareholders. Accordingly, no provision has been made for federal income taxes. Distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from those amounts determined under accounting principles generally accepted in the United States of America. These book/tax differences are either temporary or permanent in nature. To the extent these differences are permanent, they are charged or credited to paid-in capital, undistributed net investment income or accumulated net realized gains or losses, as appropriate, in the period that the differences arise. Accordingly, the following permanent differences as of October 31, 2013, primarily attributable to net foreign currency gains (losses) and gains on securities considered to be "passive foreign 39 investment companies", tax equalization and foreign capital gains tax were reclassified to the following accounts. These reclassifications had no effect on net assets or net asset value per share (amounts in thousands): Increase Increase Increase (Decrease) (Decrease) (Decrease) Undistributed Accumulated Paid-In Net Investment Net Realized Capital Income Gains (Losses) ---------- -------------- -------------- LWAS/DFA International High Book to Market Portfolio. $257 $(109) $(148) The tax character of dividends and distributions declared and paid during the years ended October 31, 2012 and October 31, 2013 were as follows (amounts in thousands): Net Investment Income and Short-Term Long-Term Capital Gains Capital Gains Total -------------- ------------- ------ LWAS/DFA International High Book to Market Portfolio 2012................................................. $2,327 $2,965 $5,292 2013................................................. 2,242 4,494 6,736 At October 31, 2013, the following net investment income and short-term capital gains and long-term capital gains distributions designated for federal income tax purposes are due to the utilization of accumulated earnings and profits distributed to shareholders upon redemption of shares (amounts in thousands): Net Investment Income and Short-Term Long-Term Capital Gains Capital Gains Total -------------- ------------- ----- LWAS/DFA International High Book to Market Portfolio. $101 $156 $257 At October 31, 2013, the components of distributable earnings (accumulated losses) were as follows (amounts in thousands): Undistributed Total Net Net Investment Distributable Income and Undistributed Unrealized Earnings Short-Term Long-Term Appreciation (Accumulated Capital Gains Capital Gains (Depreciation) Losses) -------------- ------------- -------------- ------------- LWAS/DFA International High Book to Market Portfolio................................ $266 $3,297 $15,465 $19,028 For federal income tax purposes, the Fund measures its capital loss carryforwards annually at October 31, its fiscal year end. Capital loss carryforwards may be carried forward and applied against future capital gains. Under the Regulated Investment Company Modernization Act of 2010, capital losses incurred by the Portfolio after October 31, 2011 will not be subject to expiration and will retain their character as either short-term or long-term capital losses. In addition, such losses must be utilized prior to the losses incurred in the years preceding enactment. As of October 31, 2013, the Portfolio had no capital loss carryforwards available to offset future realized capital gains. During the year ended October 31, 2012, the Portfolio did not utilized capital loss carryforwards. At October 31, 2013, the total cost and aggregate gross unrealized appreciation (depreciation) of securities for federal income tax purposes were different from amounts reported for financial reporting purposes (amounts in thousands): Net Unrealized Federal Unrealized Unrealized Appreciation Tax Cost Appreciation Depreciation (Depreciation) -------- ------------ ------------ -------------- LWAS/DFA International High Book to Market Portfolio. $62,544 $15,455 -- $15,455 40 The difference between book basis and tax-basis unrealized appreciation (depreciation) is primarily attributable to the tax deferral of losses on wash sales and investments in passive foreign investment companies. Accounting for Uncertainty in Income Taxes sets forth a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. Management has analyzed the Portfolios' tax positions and has concluded that no additional provision for income tax is required in any Portfolio's financial statements. The Portfolio is not aware of any tax positions for which it is more likely than not that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. The Portfolio's federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service. E. Line of Credit: The Fund, together with other Dimensional-advised portfolios, entered into a $250 million unsecured discretionary line of credit effective June 22, 2011 with The Bank of New York Mellon, which was terminated by The Bank of New York Mellon effective March 29, 2013. Prior to termination, each portfolio was permitted to borrow, subject to its investment limitations, up to a maximum of $250 million, as long as total borrowings under the line of credit did not exceed $250 million in the aggregate. Borrowings under the line of credit were charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio was individually, and not jointly, liable for its particular advances under the line of credit. There was no commitment fee on the unused portion of the line of credit. The Fund, together with other Dimensional-advised portfolios, has entered into a $500 million unsecured discretionary line of credit effective March 4, 2013 with its domestic custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. There is no commitment fee on the unused portion of the line of credit. The agreement for the discretionary line of credit may be terminated by either party at any time. The line of credit is scheduled to expire on March 3, 2014. The Fund, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit effective January 11, 2013 with its international custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. There is no commitment fee on the unused portion of the line of credit. The agreement for the line of credit expires on January 10, 2014. There were no borrowings by the Portfolio under the lines of credit during the year ended October 31, 2013. F. Indemnitees; Contractual Obligations: Under the Fund's organizational documents, its officers and directors are indemnified against certain liabilities arising out of the performance of their duties to the Fund. In the normal course of business, the Fund enters into contracts that contain a variety of representations and warranties which provide general indemnification. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund and/or its affiliates that have not yet occurred. However, based on experience, the Fund expects the risk of loss to be remote. G. Recently Issued Accounting Standards: In January 2013, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") No. 2013-01 "Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities" ("ASU 2013-01") which amended Accounting Standards Codification Subtopic 210-20, Balance Sheet Offsetting. ASU 2013-01 clarified the scope of ASU No. 2011-11 "Disclosures about Offsetting Assets and Liabilities" ("ASU 2011-11"). ASU 2011-11 requires an entity to disclose information about offsetting and related arrangements to enable users of that entity's 41 financial statements to understand the effect of those arrangements on its financial position. ASU 2013-01 clarifies the scope of ASU 2011-11 as applying to derivatives accounted for in accordance with Topic 815, Derivatives and Hedging, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are offset either in accordance with other requirements of GAAP or subject to an enforceable master netting arrangement or similar agreement. ASU No. 2011-11 is effective for annual periods beginning on or after January 1, 2013, and interim periods within those annual periods. Management is evaluating any impact ASU No. 2011-11 may have on the financial statements. H. Other: At October 31, 2013, two shareholders held approximately 96% of outstanding shares of the Portfolio. One or more of the shareholders may be omnibus accounts, which typically hold shares for the benefit of several other underlying investors. I. Subsequent Event Evaluations: Management has evaluated the impact of all subsequent events on the Portfolio and has determined that there are no subsequent events requiring recognition or disclosure in the financial statements. 42 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Shareholders of LWAS/DFA International High Book to Market Portfolio and Board of Directors of DFA Investment Dimensions Group Inc.: In our opinion, the accompanying statement of assets and liabilities, including the schedule of investments, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of LWAS/DFA International High Book to Market Portfolio (one of the portfolios constituting DFA Investment Dimensions Group Inc., hereafter referred to as the "Portfolio") at October 31, 2013, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended and the financial highlights for each of the five years in the period then ended, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as "financial statements") are the responsibility of the Portfolio's management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of securities at October 31, 2013 by correspondence with the transfer agent of the investee fund, provide a reasonable basis for our opinion. PricewaterhouseCoopers LLP Philadelphia, Pennsylvania December 20, 2013 43 THE DFA INVESTMENT TRUST COMPANY PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- THE U.S. LARGE CAP VALUE SERIES VS. RUSSELL 1000(R) VALUE INDEX October 31, 2003-October 31, 2013 [CHART] The U.S. Large Cap Russell 1000/R/ Value Series Value Index ------------------ --------------- 10/31/2003 $10,000 $10,000 11/30/2003 10,224 10,136 12/31/2003 10,926 10,760 01/31/2004 11,113 10,950 02/29/2004 11,399 11,184 03/31/2004 11,353 11,086 04/30/2004 11,166 10,815 05/31/2004 11,226 10,925 06/30/2004 11,565 11,183 07/31/2004 11,191 11,026 08/31/2004 11,191 11,182 09/30/2004 11,535 11,356 10/31/2004 11,675 11,544 11/30/2004 12,440 12,128 12/31/2004 12,939 12,534 01/31/2005 12,615 12,311 02/28/2005 12,999 12,719 03/31/2005 12,964 12,545 04/30/2005 12,525 12,320 05/31/2005 13,059 12,617 06/30/2005 13,328 12,755 07/31/2005 13,992 13,124 08/31/2005 13,877 13,067 09/30/2005 14,091 13,250 10/31/2005 13,717 12,914 11/30/2005 14,265 13,336 12/31/2005 14,284 13,416 01/31/2006 14,965 13,937 02/28/2006 14,915 14,022 03/31/2006 15,180 14,212 04/30/2006 15,606 14,573 05/31/2006 15,322 14,205 06/30/2006 15,453 14,295 07/31/2006 15,232 14,643 08/31/2006 15,481 14,888 09/30/2006 15,910 15,185 10/31/2006 16,541 15,682 11/30/2006 16,855 16,040 12/31/2006 17,193 16,400 01/31/2007 17,695 16,610 02/28/2007 17,429 16,351 03/31/2007 17,550 16,603 04/30/2007 18,297 17,217 05/31/2007 19,051 17,838 06/30/2007 18,745 17,421 07/31/2007 17,583 16,616 08/31/2007 17,247 16,802 09/30/2007 17,697 17,379 10/31/2007 17,796 17,381 11/30/2007 16,802 16,531 12/31/2007 16,746 16,371 01/31/2008 16,106 15,716 02/29/2008 15,612 15,057 03/31/2008 15,466 14,944 04/30/2008 16,441 15,673 05/31/2008 16,836 15,648 06/30/2008 14,991 14,150 07/31/2008 14,827 14,099 08/31/2008 15,115 14,339 09/30/2008 13,757 13,285 10/31/2008 10,664 10,985 11/30/2008 9,618 10,198 12/31/2008 9,931 10,339 01/31/2009 8,752 9,150 02/28/2009 7,526 7,928 03/31/2009 8,269 8,606 04/30/2009 9,607 9,528 05/31/2009 10,343 10,117 06/30/2009 10,216 10,042 07/31/2009 11,189 10,864 08/31/2009 11,949 11,433 09/30/2009 12,471 11,874 10/31/2009 11,933 11,511 11/30/2009 12,606 12,160 12/31/2009 12,954 12,375 01/31/2010 12,653 12,027 02/28/2010 13,199 12,407 03/31/2010 14,228 13,214 04/30/2010 14,679 13,556 05/31/2010 13,421 12,442 06/30/2010 12,408 11,742 07/31/2010 13,381 12,536 08/31/2010 12,574 12,000 09/30/2010 13,801 12,931 10/31/2010 14,315 13,319 11/30/2010 14,204 13,248 12/31/2010 15,589 14,294 01/31/2011 16,088 14,617 02/28/2011 16,958 15,156 03/31/2011 17,037 15,217 04/30/2011 17,473 15,622 05/31/2011 17,219 15,457 06/30/2011 16,919 15,140 07/31/2011 16,143 14,638 08/31/2011 14,782 13,724 09/30/2011 13,286 12,687 10/31/2011 15,130 14,139 11/30/2011 15,004 14,066 12/31/2011 15,122 14,350 01/31/2012 15,874 14,893 02/29/2012 16,792 15,486 03/31/2012 17,101 15,945 04/30/2012 16,752 15,783 05/31/2012 15,565 14,857 06/30/2012 16,404 15,595 07/31/2012 16,563 15,756 08/31/2012 17,219 16,098 09/30/2012 17,852 16,609 10/31/2012 17,900 16,528 11/30/2012 17,939 16,521 12/31/2012 18,485 16,862 01/31/2013 19,775 17,958 02/28/2013 20,029 18,216 03/31/2013 20,986 18,937 04/30/2013 21,208 19,224 05/31/2013 22,078 19,717 Past performance is not predictive of 06/30/2013 21,833 19,543 future performance. 07/31/2013 23,139 20,599 08/31/2013 22,458 19,817 The returns shown do not reflect the 09/30/2013 23,115 20,314 deduction of taxes that a shareholder 10/31/2013 24,286 21,203 would pay on fund distributions or the redemption of fund shares. Average Annual One Five Ten Total Return Year Years Years Russell data copyright (C) Russell ------------------------------------------------------ Investment Group 1995-2013, all rights 35.68% 17.89% 9.28% reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- THE DFA INTERNATIONAL VALUE SERIES VS. MSCI WORLD EX USA INDEX (NET DIVIDENDS) October 31, 2003-October 31, 2013 [CHART] The DFA International MSCI World ex USA Index Value Series (net dividends) --------------------- ----------------------- 10/31/2003 $10,000 $10,000 11/30/2003 10,214 10,227 12/31/2003 10,981 11,011 1/31/2004 11,262 11,164 2/29/2004 11,601 11,421 3/31/2004 11,782 11,478 4/30/2004 11,426 11,178 5/31/2004 11,542 11,230 6/30/2004 12,019 11,489 7/31/2004 11,575 11,139 8/31/2004 11,726 11,185 9/30/2004 12,101 11,511 10/31/2004 12,564 11,925 11/30/2004 13,498 12,718 12/31/2004 14,170 13,255 1/31/2005 14,029 12,994 2/28/2005 14,584 13,572 3/31/2005 14,224 13,264 4/30/2005 13,792 12,926 5/31/2005 13,810 12,950 6/30/2005 14,031 13,161 7/31/2005 14,657 13,586 8/31/2005 15,140 13,961 9/30/2005 15,566 14,599 10/31/2005 15,332 14,127 11/30/2005 15,605 14,501 12/31/2005 16,369 15,173 1/31/2006 17,487 16,133 2/28/2006 17,655 16,079 3/31/2006 18,400 16,589 4/30/2006 19,332 17,382 5/31/2006 18,549 16,722 6/30/2006 18,432 16,700 7/31/2006 18,716 16,857 8/31/2006 19,360 17,336 9/30/2006 19,628 17,322 10/31/2006 20,499 18,006 11/30/2006 21,181 18,543 12/31/2006 22,007 19,074 1/31/2007 22,422 19,191 2/28/2007 22,402 19,344 3/31/2007 23,126 19,840 4/30/2007 24,293 20,742 5/31/2007 25,124 21,203 6/30/2007 24,941 21,224 7/31/2007 24,247 20,931 8/31/2007 23,975 20,628 9/30/2007 25,227 21,800 10/31/2007 26,451 22,748 11/30/2007 24,848 21,858 12/31/2007 24,313 21,447 1/31/2008 22,343 19,513 2/29/2008 22,059 19,867 3/31/2008 22,323 19,583 4/30/2008 23,321 20,672 5/31/2008 23,332 20,986 6/30/2008 21,024 19,354 7/31/2008 20,429 18,665 8/31/2008 19,576 17,943 9/30/2008 17,289 15,353 10/31/2008 12,954 12,159 11/30/2008 12,159 11,500 12/31/2008 13,079 12,106 1/31/2009 11,273 10,976 2/28/2009 9,888 9,865 3/31/2009 10,967 10,515 4/30/2009 12,988 11,871 5/31/2009 14,918 13,373 6/30/2009 14,691 13,234 7/31/2009 16,439 14,477 8/31/2009 17,381 15,170 9/30/2009 18,267 15,796 10/31/2009 17,540 15,543 11/30/2009 18,063 15,927 12/31/2009 18,267 16,181 1/31/2010 17,211 15,423 2/28/2010 17,279 15,407 3/31/2010 18,642 16,399 4/30/2010 18,324 16,155 5/31/2010 16,178 14,372 6/30/2010 15,894 14,164 7/31/2010 17,881 15,473 8/31/2010 17,007 15,011 9/30/2010 18,835 16,451 10/31/2010 19,493 17,037 11/30/2010 18,517 16,315 12/31/2010 20,242 17,629 1/31/2011 21,105 18,009 2/28/2011 21,809 18,676 3/31/2011 21,207 18,302 4/30/2011 22,343 19,299 5/31/2011 21,537 18,727 6/30/2011 21,241 18,460 7/31/2011 20,560 18,156 8/31/2011 18,358 16,621 9/30/2011 16,348 14,952 10/31/2011 17,926 16,406 11/30/2011 17,336 15,648 12/31/2011 16,870 15,477 1/31/2012 18,006 16,312 2/29/2012 18,948 17,209 3/31/2012 18,789 17,082 4/30/2012 18,119 16,792 5/31/2012 15,883 14,878 6/30/2012 17,007 15,852 7/31/2012 16,939 16,050 8/31/2012 17,642 16,508 9/30/2012 18,267 17,009 10/31/2012 18,494 17,128 11/30/2012 18,789 17,488 12/31/2012 19,709 18,017 1/31/2013 20,640 18,903 2/28/2013 20,015 18,715 3/31/2013 20,083 18,863 4/30/2013 21,071 19,722 5/31/2013 20,821 19,281 6/30/2013 20,083 18,558 7/31/2013 21,457 19,546 Past performance is not predictive of 8/31/2013 21,309 19,294 future performance. 9/30/2013 22,910 20,657 10/31/2013 23,705 21,350 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the Average Annual One Five Ten redemption of fund shares. Total Return Year Years Years ---------------------------------------------------------- MSCI data copyright MSCI 2013, all 28.18% 12.85% 9.01% rights reserved. -------------------------------------------------------------------------------- 44 THE DFA INVESTMENT TRUST COMPANY MANAGEMENT'S DISCUSSION AND ANALYSIS U.S. Equity Market Review 12 Months Ended October 31, 2013 The one-year period ended October 31, 2013, was characterized by strong gains in U.S. equities. The broad U.S. equity market, as measured by the Russell 3000(R) Index, had positive returns in 10 of the 12 months. The size premium was positive during the period with small cap stocks outperforming large cap stocks as measured by the Russell indices. Micro cap stocks were the strongest performers. Total Return for 12 Months Ended October 31, 2013 ------------------------------------------------- Russell 3000(R) Index........................ 28.99% Russell Microcap(R) Index (micro cap stocks). 38.72% Russell 2000(R) Index (small cap stocks)..... 36.28% Russell 1000(R) Index (large cap stocks)..... 28.40% Dow Jones U.S. Select REIT Index/SM/......... 9.96% The value premium was negative in small cap stocks while the performance of large cap value and large cap growth was almost identical as measured by the Russell indices. Total Return for 12 Months Ended October 31, 2013 ------------------------------------------------- Russell 2000(R) Value Index (small cap value stocks)... 32.83% Russell 2000(R) Growth Index (small cap growth stocks). 39.84% Russell 1000(R) Value Index (large cap value stocks)... 28.29% Russell 1000(R) Growth Index (large cap growth stocks). 28.30% ---------- Source: Russell data copyright (C) Russell Investment Group 1995-2013, all rights reserved. Dimensional Fund Advisors LP ("Dimensional" or the "Advisor") believes that among the most important factors explaining differences in the behavior of diversified equity portfolios are the market capitalization and value/ growth characteristics of the portfolios' holdings. Value characteristics are a function of stock price relative to one or more fundamental characteristics such as book value, earnings, or dividends. For many Dimensional U.S. equity portfolios, differences in returns over the 12 months ended October 31, 2013, were primarily attributable to differences in value/growth and size characteristics as well as the exclusion of REIT securities from most Dimensional portfolios and the exclusion of securities of highly regulated utilities from most value strategies. For many portfolios, the construction approach used by Dimensional generally resulted in portfolios with greater weight in value, small cap and/or micro cap companies relative to widely used benchmarks. Domestic Equity Series' Performance Overview U.S. Large Cap Value Series The U.S. Large Cap Value Series seeks to capture the returns of U.S. large company value stocks. Value is measured primarily by book-to-market ratio. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Series held approximately 220 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Series' assets. For the 12 months ended October 31, 2013, total returns were 35.68% for the Series and 28.29% for the Russell 1000(R) Value Index. As a result of the Series' diversified investment approach, performance was determined principally by broad structural trends in the U.S. equity market rather than the behavior of a limited number of stocks. The Series had significantly greater exposure than the Index to deeper value stocks. These stocks generally outperformed the Index, and the Series' higher weight contributed to the Series' outperformance relative to the Index. The Series' exclusion of real estate investment trusts ("REITs") and highly regulated utilities also contributed to outperformance relative to the Index as both sectors underperformed the overall Index during the period. 45 International Equity Market Review 12 Months Ended October 31, 2013 The one-year period ended October 31, 2013, was characterized by generally positive monthly returns in the international equity markets with the exception of a sharp decline from May to June and a smaller decline in August. As measured by the MSCI indices below for developed markets outside the U.S., small cap stocks generally outperformed large cap stocks while value stocks outperformed growth stocks. 12 Months Ended October 31, 2013 -------------------------------- U.S. Dollar Return ------------------ MSCI World ex USA Index........... 24.65% MSCI World ex USA Small Cap Index. 27.81% MSCI World ex USA Value Index..... 26.12% MSCI World ex USA Growth Index.... 23.17% During the period, the U.S. dollar (USD) was mixed against developed markets currencies. While the U.S. dollar depreciated against the euro, Swiss franc, and several other European-based developed markets currencies, it appreciated against the sterling, Canadian dollar, Australian dollar and Japanese yen. 12 Months Ended October 31, 2013 -------------------------------- Ten Largest Foreign Developed Markets by Market Cap Local Currency Return U.S. Dollar Return --------------------------------------------------- --------------------- ------------------ United Kingdom.................... 20.70% 20.37% Japan............................. 64.48% 34.00% Canada............................ 10.59% 5.99% France............................ 27.55% 33.82% Australia......................... 26.44% 15.47% Switzerland....................... 27.49% 31.10% Germany........................... 24.72% 30.85% Spain............................. 30.69% 37.11% Sweden............................ 24.39% 27.55% Hong Kong......................... 14.30% 14.25% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2013, all rights reserved. International Equity Series' Performance Overview The DFA International Value Series The DFA International Value Series seeks to capture the returns of international large company value stocks. Value stocks are typically characterized by low relative price, as measured by their book-to-market ratio. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Series held approximately 520 securities in 22 eligible developed countries. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Series' assets. For the 12 months ending October 31, 2013, total returns were 28.18% for the Series and 24.65% for the MSCI World ex USA Index (net dividends). The Series focuses on value stocks, as measured by book-to-market, while the Index is neutral with regard to value or growth. As large cap value stocks generally outperformed large cap growth stocks during the period, the Series' significantly greater exposure than the Index to these securities contributed to the Series' outperformance relative to the Index. In particular, the Series' greater exposure to value stocks in the financial sector was beneficial as these names outperformed the Index. The Series' exclusion of real estate investment trusts ("REITs") also benefited the Series' relative performance as REITs underperformed during the period. Differences in the valuation timing and methodology between the Series and the Index generally detracted from relative performance. The Series prices foreign exchange rates at the closing of the U.S. markets while the Index uses rates at 4 pm London time. The Series also may use fair value pricing to price certain portfolio securities at the closing of the U.S. markets while the Index uses local market closing prices. 46 THE DFA INVESTMENT TRUST COMPANY DISCLOSURE OF FUND EXPENSES (Unaudited) The following Expense Tables are shown so that you can understand the impact of fees on your investment. All mutual funds have operating expenses. As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports, among others. Operating expenses, legal and audit services, which are deducted from a fund's gross income, directly reduce the investment return of the fund. A fund's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs, in dollars, of investing in the fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period. The Expense Tables below illustrate your fund's costs in two ways. Actual Fund Return This section helps you to estimate the actual expenses after fee waivers that you paid over the period. The "Ending Account Value" shown is derived from the fund's actual return and "Expenses Paid During Period" reflect the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. To do so, simply divide your account value by $1,000 (for example, a $7,500 account value divided by $1,000 = 7.5), then multiply the result by the number given for your fund under the heading "Expenses Paid During Period." Hypothetical Example for Comparison Purposes This section is intended to help you compare your fund's costs with those of other mutual funds. The hypothetical "Ending Account Value" and "Expenses Paid During Period" are derived from the fund's actual expense ratio and an assumed 5% annual return before expenses. In this case, because the return used is not the fund's actual return, the results do not apply to your investment. The example is useful in making comparisons because the SEC requires all mutual funds to calculate expenses based on a 5% annual return. You can assess your fund's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. Please note that the expenses shown in the tables are meant to highlight and help you compare ongoing costs only and do not reflect any transactional costs, if applicable. The "Annualized Expense Ratio" represents the actual expenses for the six-month period indicated. Six Months Ended October 31, 2013 EXPENSE TABLES Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/13 10/31/13 Ratio* Period* --------- --------- ---------- -------- The U.S. Large Cap Value Series ------------------------------- Actual Fund Return................. $1,000.00 $1,145.10 0.11% $0.59 Hypothetical 5% Annual Return...... $1,000.00 $1,024.65 0.11% $0.56 The DFA International Value Series ---------------------------------- Actual Fund Return................. $1,000.00 $1,125.00 0.22% $1.18 Hypothetical 5% Annual Return...... $1,000.00 $1,024.10 0.22% $1.12 ---------- * Expenses are equal to the fund's annualized expense ratio for the six-month period, multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period (184), then divided by the number of days in the year (365) to reflect the six-month period. 47 THE DFA INVESTMENT TRUST COMPANY DISCLOSURE OF PORTFOLIO HOLDINGS (Unaudited) The SEC requires that all funds file a complete Schedule of Investments with the SEC for their first and third fiscal quarters on Form N-Q. For The DFA Investment Trust Company, this would be for the fiscal quarters ending January 31 and July 31. The Form N-Q filing must be made within 60 days of the end of the quarter. The DFA Investment Trust Company filed its most recent Form N-Q with the SEC on September 27, 2013. It is available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room). SEC regulations permit a fund to include in its reports to shareholders a "Summary Schedule of Portfolio Holdings" in lieu of a full Schedule of Investments. The Summary Schedule of Portfolio Holdings reports the fund's 50 largest holdings in unaffiliated issuers and any investments that exceed one percent of the fund's net assets at the end of the reporting period. The amendments also require that the Summary Schedule of Portfolio Holdings identify each category of investments that is held. A fund is required to file a complete Schedule of Investments with the SEC on Form N-CSR within ten days after mailing the annual and semi-annual reports to shareholders. It will be available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room). PORTFOLIO HOLDINGS The SEC requires that all funds present their categories of portfolio holdings in a table, chart or graph format in their annual and semi-annual shareholder reports, whether or not a Schedule of Investments is utilized. The following table, which presents portfolio holdings as a percent of total investments before short-term investments and collateral for loaned securities, is provided in compliance with such requirement. The categories shown below represent broad industry sectors. Each industry sector consists of one or more specific industry classifications. DOMESTIC AND INTERNATIONAL EQUITY PORTFOLIOS The U.S. Large Cap Value Series Consumer Discretionary....................... 12.6% Consumer Staples............................. 7.5% Energy....................................... 20.7% Financials................................... 24.9% Health Care.................................. 8.0% Industrials.................................. 12.2% Information Technology....................... 5.9% Materials.................................... 3.3% Telecommunication Services................... 4.6% Utilities.................................... 0.3% ----- 100.0% The DFA International Value Series Consumer Discretionary....................... 9.4% Consumer Staples............................. 4.9% Energy....................................... 12.7% Financials................................... 36.7% Health Care.................................. 1.3% Industrials.................................. 10.4% Information Technology....................... 3.7% Materials.................................... 10.9% Other........................................ -- Telecommunication Services................... 7.1% Utilities.................................... 2.9% ----- 100.0% 48 THE U.S. LARGE CAP VALUE SERIES SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2013 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (95.9%) Consumer Discretionary -- (12.1%) Comcast Corp. Class A................ 10,008,890 $ 476,222,986 3.2% Comcast Corp. Special Class A........ 3,819,364 176,836,553 1.2% * General Motors Co.................... 3,555,515 131,376,279 0.9% Time Warner Cable, Inc............... 1,876,119 225,415,698 1.5% Time Warner, Inc..................... 4,974,348 341,936,681 2.3% Other Securities..................... 515,830,578 3.5% -------------- ------ Total Consumer Discretionary............. 1,867,618,775 12.6% -------------- ------ Consumer Staples -- (7.2%) Archer-Daniels-Midland Co............ 3,189,248 130,440,243 0.9% CVS Caremark Corp.................... 7,147,441 444,999,677 3.0% Mondelez International, Inc. Class A. 9,025,752 303,626,297 2.0% Other Securities..................... 227,833,106 1.5% -------------- ------ Total Consumer Staples................... 1,106,899,323 7.4% -------------- ------ Energy -- (19.9%) Anadarko Petroleum Corp.............. 2,511,077 239,280,527 1.6% Apache Corp.......................... 1,526,796 135,579,485 0.9% Baker Hughes, Inc.................... 1,673,042 97,187,010 0.6% Chevron Corp......................... 4,348,879 521,691,525 3.5% ConocoPhillips....................... 6,993,622 512,632,493 3.4% Devon Energy Corp.................... 1,479,247 93,517,995 0.6% Hess Corp............................ 1,606,476 130,445,851 0.9% Marathon Oil Corp.................... 3,640,872 128,377,147 0.9% Marathon Petroleum Corp.............. 1,791,952 128,411,280 0.9% National Oilwell Varco, Inc.......... 1,816,355 147,451,699 1.0% Occidental Petroleum Corp............ 1,521,584 146,193,791 1.0% Phillips 66.......................... 2,926,797 188,573,531 1.3% Valero Energy Corp................... 2,806,975 115,563,161 0.8% Other Securities..................... 484,245,131 3.3% -------------- ------ Total Energy............................. 3,069,150,626 20.7% -------------- ------ Financials -- (23.9%) American International Group, Inc.... 8,251,823 426,206,658 2.9% Bank of America Corp................. 39,239,978 547,790,093 3.7% Bank of New York Mellon Corp. (The).. 3,633,937 115,559,197 0.8% Capital One Financial Corp........... 1,875,702 128,804,456 0.9% Citigroup, Inc....................... 10,998,186 536,491,513 3.6% CME Group, Inc....................... 1,618,207 120,087,142 0.8% JPMorgan Chase & Co.................. 5,379,341 277,251,235 1.9% Loews Corp........................... 2,050,343 99,052,070 0.7% MetLife, Inc......................... 5,110,004 241,754,289 1.6% Morgan Stanley....................... 7,883,626 226,496,575 1.5% Prudential Financial, Inc............ 2,327,738 189,454,596 1.3% Other Securities..................... 785,679,755 5.2% -------------- ------ Total Financials......................... 3,694,627,579 24.9% -------------- ------ Health Care -- (7.7%) Aetna, Inc........................... 2,027,401 127,118,043 0.9% * Express Scripts Holding Co........... 2,283,090 142,738,787 1.0% Pfizer, Inc.......................... 7,744,869 237,612,581 1.6% Thermo Fisher Scientific, Inc........ 1,932,026 188,913,502 1.3% 49 THE U.S. LARGE CAP VALUE SERIES CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Health Care -- (Continued) WellPoint, Inc..................................... 1,824,634 $ 154,728,963 1.1% Other Securities................................... 330,262,151 2.1% --------------- ------ Total Health Care........................................ 1,181,374,027 8.0% --------------- ------ Industrials -- (11.7%) CSX Corp........................................... 5,687,103 148,205,904 1.0% Eaton Corp. P.L.C.................................. 1,993,999 140,696,569 1.0% FedEx Corp......................................... 759,707 99,521,617 0.7% General Electric Co................................ 17,056,602 445,859,576 3.0% Norfolk Southern Corp.............................. 1,681,939 144,680,393 1.0% Northrop Grumman Corp.............................. 1,364,645 146,712,984 1.0% Union Pacific Corp................................. 1,891,022 286,300,731 1.9% Other Securities................................... 389,576,498 2.5% --------------- ------ Total Industrials........................................ 1,801,554,272 12.1% --------------- ------ Information Technology -- (5.6%) Corning, Inc....................................... 5,599,861 95,701,624 0.7% Hewlett-Packard Co................................. 9,295,748 226,537,379 1.5% * Yahoo!, Inc........................................ 3,936,872 129,641,195 0.9% Other Securities................................... 418,199,608 2.8% --------------- ------ Total Information Technology............................. 870,079,806 5.9% --------------- ------ Materials -- (3.1%) Freeport-McMoRan Copper & Gold, Inc................ 3,340,516 122,797,368 0.8% International Paper Co............................. 2,043,676 91,168,386 0.6% Other Securities................................... 270,895,902 1.9% --------------- ------ Total Materials.......................................... 484,861,656 3.3% --------------- ------ Telecommunication Services -- (4.4%) AT&T, Inc.......................................... 14,518,387 525,565,609 3.5% Other Securities................................... 152,680,539 1.1% --------------- ------ Total Telecommunication Services......................... 678,246,148 4.6% --------------- ------ Utilities -- (0.3%) Other Securities................................... 47,551,285 0.3% --------------- ------ TOTAL COMMON STOCKS...................................... 14,801,963,497 99.8% --------------- ------ TEMPORARY CASH INVESTMENTS -- (0.7%) State Street Institutional Liquid Reserves, 0.073%. 110,063,812 110,063,812 0.7% --------------- ------ Shares/ Face Amount ------- - - (000) SECURITIES LENDING COLLATERAL -- (3.4%) (S)@ DFA Short Term Investment Fund..................... 45,096,723 521,769,090 3.5% --------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $10,087,346,593)............................... $15,433,796,399 104.0% =============== ====== 50 THE U.S. LARGE CAP VALUE SERIES CONTINUED Summary of the Series' investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): Investments in Securities (Market Value) ---------------------------------------------------- Level 1 Level 2 Level 3 Total --------------- ------------ ------- --------------- Common Stocks Consumer Discretionary...... $ 1,867,618,775 -- -- $ 1,867,618,775 Consumer Staples............ 1,106,899,323 -- -- 1,106,899,323 Energy...................... 3,069,150,626 -- -- 3,069,150,626 Financials.................. 3,694,627,579 -- -- 3,694,627,579 Health Care................. 1,181,374,027 -- -- 1,181,374,027 Industrials................. 1,801,554,272 -- -- 1,801,554,272 Information Technology...... 870,079,806 -- -- 870,079,806 Materials................... 484,861,656 -- -- 484,861,656 Telecommunication Services.. 678,246,148 -- -- 678,246,148 Utilities................... 47,551,285 -- -- 47,551,285 Temporary Cash Investments.... 110,063,812 -- -- 110,063,812 Securities Lending Collateral. -- $521,769,090 -- 521,769,090 --------------- ------------ -- --------------- TOTAL......................... $14,912,027,309 $521,769,090 -- $15,433,796,399 =============== ============ == =============== See accompanying Notes to Financial Statements. 51 THE DFA INTERNATIONAL VALUE SERIES SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2013 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (92.1%) AUSTRALIA -- (4.6%) Suncorp Group, Ltd................ 3,736,013 $ 47,108,867 0.5% Wesfarmers, Ltd................... 2,755,622 111,820,231 1.3% Other Securities.................. 279,564,385 3.2% ------------ ------ TOTAL AUSTRALIA....................... 438,493,483 5.0% ------------ ------ AUSTRIA -- (0.2%) Other Securities.................. 16,529,353 0.2% ------------ ------ BELGIUM -- (1.2%) Other Securities.................. 112,978,600 1.3% ------------ ------ CANADA -- (8.8%) # Canadian Natural Resources, Ltd... 1,849,320 58,690,835 0.7% # Magna International, Inc.......... 583,936 49,458,004 0.6% # Manulife Financial Corp........... 4,587,163 81,259,196 0.9% # Sun Life Financial, Inc........... 1,446,869 48,735,471 0.6% Suncor Energy, Inc................ 3,750,370 136,288,802 1.6% # Thomson Reuters Corp.............. 1,557,384 58,522,328 0.7% Other Securities.................. 400,896,217 4.4% ------------ ------ TOTAL CANADA.......................... 833,850,853 9.5% ------------ ------ DENMARK -- (1.5%) Other Securities.................. 137,640,320 1.6% ------------ ------ FINLAND -- (0.9%) Other Securities.................. 82,560,530 0.9% ------------ ------ FRANCE -- (9.7%) AXA SA............................ 4,004,754 99,780,178 1.1% BNP Paribas SA.................... 1,975,744 145,756,834 1.7% Cie de St-Gobain.................. 1,078,023 56,585,484 0.7% GDF Suez.......................... 3,247,971 80,496,939 0.9% Orange............................ 3,875,091 53,267,297 0.6% Societe Generale SA............... 1,823,515 103,009,458 1.2% Vivendi SA........................ 3,686,124 93,331,608 1.1% Other Securities.................. 290,292,116 3.2% ------------ ------ TOTAL FRANCE.......................... 922,519,914 10.5% ------------ ------ GERMANY -- (8.4%) Allianz SE........................ 518,031 86,978,602 1.0% Allianz SE ADR.................... 2,811,910 47,324,445 0.5% Bayerische Motoren Werke AG....... 663,299 75,071,136 0.9% Daimler AG........................ 2,088,586 171,002,503 1.9% Deutsche Bank AG.................. 1,538,807 74,369,159 0.8% # Deutsche Telekom AG Sponsored ADR. 3,074,385 48,544,539 0.6% E.ON SE........................... 3,638,090 66,316,888 0.8% Muenchener Rueckversicherungs AG.. 395,244 82,460,652 0.9% Other Securities.................. 143,842,565 1.6% ------------ ------ TOTAL GERMANY......................... 795,910,489 9.0% ------------ ------ GREECE -- (0.0%) Other Securities.................. 4,734,900 0.1% ------------ ------ 52 THE DFA INTERNATIONAL VALUE SERIES CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- HONG KONG -- (2.1%) Hutchison Whampoa, Ltd.................. 5,818,000 $ 72,458,624 0.8% Other Securities........................ 125,762,689 1.4% -------------- ------ TOTAL HONG KONG............................. 198,221,313 2.2% -------------- ------ IRELAND -- (0.1%) Other Securities........................ 13,557,887 0.1% -------------- ------ ISRAEL -- (0.3%) Other Securities........................ 28,069,013 0.3% -------------- ------ ITALY -- (1.5%) UniCredit SpA........................... 8,189,815 61,477,549 0.7% Other Securities........................ 78,424,839 0.9% -------------- ------ TOTAL ITALY................................. 139,902,388 1.6% -------------- ------ JAPAN -- (17.7%) Mitsubishi Corp......................... 3,482,500 70,454,645 0.8% Mitsubishi UFJ Financial Group, Inc..... 24,653,206 156,998,104 1.8% Mitsui & Co., Ltd....................... 4,220,700 60,296,595 0.7% Nippon Steel & Sumitomo Metal Corp...... 18,537,940 61,185,438 0.7% NTT DOCOMO, Inc......................... 3,091,700 49,049,894 0.6% Other Securities........................ 1,282,749,967 14.5% -------------- ------ TOTAL JAPAN................................. 1,680,734,643 19.1% -------------- ------ NETHERLANDS -- (3.1%) * ING Groep NV............................ 6,479,202 82,335,806 0.9% Other Securities........................ 207,395,423 2.4% -------------- ------ TOTAL NETHERLANDS........................... 289,731,229 3.3% -------------- ------ NEW ZEALAND -- (0.1%) Other Securities........................ 6,293,702 0.1% -------------- ------ NORWAY -- (0.7%) Other Securities........................ 67,730,341 0.8% -------------- ------ PORTUGAL -- (0.1%) Other Securities........................ 6,386,228 0.1% -------------- ------ SINGAPORE -- (1.2%) Other Securities........................ 109,323,500 1.2% -------------- ------ SPAIN -- (2.3%) Banco Santander SA...................... 8,832,930 78,306,244 0.9% Iberdrola SA............................ 7,444,256 46,726,442 0.5% Other Securities........................ 94,892,837 1.1% -------------- ------ TOTAL SPAIN................................. 219,925,523 2.5% -------------- ------ SWEDEN -- (2.8%) Nordea Bank AB.......................... 5,366,449 68,644,974 0.8% Telefonaktiebolaget LM Ericsson Class B. 4,713,081 56,374,169 0.7% Other Securities........................ 138,816,259 1.5% -------------- ------ TOTAL SWEDEN................................ 263,835,402 3.0% -------------- ------ 53 THE DFA INTERNATIONAL VALUE SERIES CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- SWITZERLAND -- (6.9%) Credit Suisse Group AG......................................... 1,928,358 $ 59,987,253 0.7% Holcim, Ltd.................................................... 887,877 66,039,798 0.8% Swiss Re AG.................................................... 1,117,582 98,104,262 1.1% UBS AG......................................................... 6,496,062 125,640,734 1.4% Zurich Insurance Group AG...................................... 269,917 74,584,331 0.9% Other Securities............................................... 232,054,236 2.6% -------------- ------ TOTAL SWITZERLAND.................................................... 656,410,614 7.5% -------------- ------ UNITED KINGDOM -- (17.9%) Barclays P.L.C................................................. 14,540,536 61,178,709 0.7% # Barclays P.L.C. Sponsored ADR.................................. 5,739,573 96,482,222 1.1% BP P.L.C. Sponsored ADR........................................ 5,793,659 269,405,143 3.1% Glencore Xstrata P.L.C......................................... 15,896,454 86,511,958 1.0% # HSBC Holdings P.L.C. Sponsored ADR............................. 1,694,884 93,286,415 1.1% Kingfisher P.L.C............................................... 8,609,963 52,085,475 0.6% * Lloyds Banking Group P.L.C..................................... 82,680,839 102,259,365 1.2% # Royal Dutch Shell P.L.C. ADR................................... 3,323,210 231,029,559 2.6% Vodafone Group P.L.C........................................... 34,976,333 128,109,810 1.5% Vodafone Group P.L.C. Sponsored ADR............................ 3,949,158 145,407,998 1.6% Other Securities............................................... 428,839,157 4.8% -------------- ------ TOTAL UNITED KINGDOM................................................. 1,694,595,811 19.3% -------------- ------ TOTAL COMMON STOCKS.................................................. 8,719,936,036 99.2% -------------- ------ PREFERRED STOCKS -- (0.2%) GERMANY -- (0.2%) Other Securities............................................... 23,753,308 0.3% -------------- ------ RIGHTS/WARRANTS -- (0.0%) HONG KONG -- (0.0%) Other Securities............................................... -- 0.0% -------------- ------ SPAIN -- (0.0%) Other Securities............................................... 1,906,872 0.0% -------------- ------ TOTAL RIGHTS/WARRANTS................................................ 1,906,872 0.0% -------------- ------ Shares/ Face Amount Value+ ------- ------ (000) SECURITIES LENDING COLLATERAL -- (7.7%) (S)@ DFA Short Term Investment Fund................................. 62,748,487 726,000,000 8.2% @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $796,375 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $720,177) to be repurchased at $706,058...................................................... $706 706,056 0.0% -------------- ------ TOTAL SECURITIES LENDING COLLATERAL.................................. 726,706,056 8.2% -------------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $7,742,743,361)............................................ $9,472,302,272 107.7% ============== ====== 54 THE DFA INTERNATIONAL VALUE SERIES CONTINUED Summary of the Series' investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): Investments in Securities (Market Value) ---------------------------------------------------- Level 1 Level 2 Level 3 Total -------------- -------------- ------- -------------- Common Stocks Australia................... $ 1,841,161 $ 436,652,322 -- $ 438,493,483 Austria..................... -- 16,529,353 -- 16,529,353 Belgium..................... 3,382,426 109,596,174 -- 112,978,600 Canada...................... 833,850,853 -- -- 833,850,853 Denmark..................... -- 137,640,320 -- 137,640,320 Finland..................... 1,950,990 80,609,540 -- 82,560,530 France...................... 6,675,118 915,844,796 -- 922,519,914 Germany..................... 120,607,084 675,303,405 -- 795,910,489 Greece...................... -- 4,734,900 -- 4,734,900 Hong Kong................... -- 198,221,313 -- 198,221,313 Ireland..................... 5,268,488 8,289,399 -- 13,557,887 Israel...................... -- 28,069,013 -- 28,069,013 Italy....................... 18,295,120 121,607,268 -- 139,902,388 Japan....................... 67,433,792 1,613,300,851 -- 1,680,734,643 Netherlands................. 16,499,964 273,231,265 -- 289,731,229 New Zealand................. -- 6,293,702 -- 6,293,702 Norway...................... 265,956 67,464,385 -- 67,730,341 Portugal.................... -- 6,386,228 -- 6,386,228 Singapore................... -- 109,323,500 -- 109,323,500 Spain....................... 13,099,036 206,826,487 -- 219,925,523 Sweden...................... 11,416,422 252,418,980 -- 263,835,402 Switzerland................. 90,293,410 566,117,204 -- 656,410,614 United Kingdom.............. 926,568,412 768,027,399 -- 1,694,595,811 Preferred Stocks Germany..................... -- 23,753,308 -- 23,753,308 Rights/Warrants Hong Kong................... -- -- -- -- Spain....................... -- 1,906,872 -- 1,906,872 Securities Lending Collateral. -- 726,706,056 -- 726,706,056 -------------- -------------- -- -------------- TOTAL......................... $2,117,448,232 $7,354,854,040 -- $9,472,302,272 ============== ============== == ============== See accompanying Notes to Financial Statements. 55 THE DFA INVESTMENT TRUST COMPANY STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (Amounts in thousands) The U.S. The DFA Large Cap International Value Series Value Series* ------------ ------------- ASSETS: Investments at Value (including $506,475 and $716,973 of securities on loan, respectively). $14,801,963 $8,745,596 Temporary Cash Investments at Value & Cost................................................. 110,064 -- Collateral Received from Securities on Loan at Value & Cost................................ -- 706 Collateral from Securities on Loan Invested in Affiliate at Value & Cost................... 521,769 726,000 Foreign Currencies at Value................................................................ -- 24,350 Cash....................................................................................... -- 20,781 Receivables: Investment Securities Sold............................................................... 26,504 4,029 Dividends, Interest and Tax Reclaims..................................................... 17,741 23,044 Securities Lending Income................................................................ 453 276 Prepaid Expenses and Other Assets.......................................................... -- 1 ----------- ---------- Total Assets.......................................................................... 15,478,494 9,544,783 ----------- ---------- LIABILITIES: Payables: Upon Return of Securities Loaned......................................................... 521,769 726,706 Investment Securities Purchased.......................................................... 115,461 23,813 Due to Advisor........................................................................... 1,223 1,472 Unrealized Loss on Foreign Currency Contracts.............................................. -- 17 Accrued Expenses and Other Liabilities..................................................... 1,053 645 ----------- ---------- Total Liabilities..................................................................... 639,506 752,653 ----------- ---------- NET ASSETS................................................................................. $14,838,988 $8,792,130 =========== ========== Investments at Cost........................................................................ $ 9,455,514 $7,016,037 =========== ========== Foreign Currencies at Cost................................................................. $ -- $ 24,526 =========== ========== ---------- * See Note I in the Notes to Financial Statements for additional securities lending collateral. See accompanying Notes to Financial Statements. 56 THE DFA INVESTMENT TRUST COMPANY STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2013 (Amounts in thousands) The U.S. The DFA Large Cap International Value Series Value Series ------------ ------------- Investment Income Dividends (Net of Foreign Taxes Withheld of $42 and $19,855, respectively). $ 262,650 $ 256,899 Interest................................................................... 56 6 Income from Securities Lending............................................. 2,227 13,232 ---------- ---------- Total Investment Income................................................. 264,933 270,137 ---------- ---------- Expenses Investment Advisory Services Fees.......................................... 12,720 15,819 Accounting & Transfer Agent Fees........................................... 850 542 Custodian Fees............................................................. 121 810 Shareholders' Reports...................................................... 30 20 Directors'/Trustees' Fees & Expenses....................................... 131 85 Professional Fees.......................................................... 431 236 Other...................................................................... 156 158 ---------- ---------- Total Expenses.......................................................... 14,439 17,670 ---------- ---------- Fees Paid Indirectly....................................................... -- (22) ---------- ---------- Net Expenses............................................................... 14,439 17,648 ---------- ---------- Net Investment Income (Loss)............................................... 250,494 252,489 ---------- ---------- Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold............................................... 1,042,669 394,216 Futures.................................................................. -- (1,587) Foreign Currency Transactions*........................................... -- (2,158) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency............................... 2,531,751 1,329,657 Translation of Foreign Currency Denominated Amounts...................... -- 544 ---------- ---------- Net Realized and Unrealized Gain (Loss).................................... 3,574,420 1,720,672 ---------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations.............. $3,824,914 $1,973,161 ========== ========== ---------- * Net of foreign capital gain taxes withheld of $0 and $3, respectively. See accompanying Notes to Financial Statements. 57 THE DFA INVESTMENT TRUST COMPANY STATEMENTS OF CHANGES IN NET ASSETS (Amounts in thousands) The U.S. Large Cap Value The DFA International Series Value Series ------------------------ ----------------------- Year Year Year Year Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2013 2012 ----------- ----------- ----------- ---------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)................................ $ 250,494 $ 212,847 $ 252,489 $ 260,321 Net Realized Gain (Loss) on: Investment Securities Sold................................ 1,042,669 408,690 394,216 133,256 Futures................................................... -- -- (1,587) -- Foreign Currency Transactions*............................ -- -- (2,158) (1,249) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency................ 2,531,751 1,049,282 1,329,657 (157,327) Translation of Foreign Currency Denominated Amounts....... -- -- 544 (266) ----------- ----------- ----------- ---------- Net Increase (Decrease) in Net Assets Resulting from Operations.............................................. 3,824,914 1,670,819 1,973,161 234,735 ----------- ----------- ----------- ---------- Transactions in Interest: Contributions............................................... 1,639,135 505,769 1,055,913 699,069 Withdrawals................................................. (1,214,213) (922,543) (1,475,193) (651,462) ----------- ----------- ----------- ---------- Net Increase (Decrease) from Transactions in Interest.... 424,922 (416,774) (419,280) 47,607 ----------- ----------- ----------- ---------- Total Increase (Decrease) in Net Assets.................. 4,249,836 1,254,045 1,553,881 282,342 Net Assets Beginning of Year........................................... 10,589,152 9,335,107 7,238,249 6,955,907 ----------- ----------- ----------- ---------- End of Year................................................. $14,838,988 $10,589,152 $ 8,792,130 $7,238,249 =========== =========== =========== ========== ---------- * Net of foreign capital gain taxes withheld of $0, $0, $3 and $0, respectively. See accompanying Notes to Financial Statements. 58 THE DFA INVESTMENT TRUST COMPANY FINANCIAL HIGHLIGHTS The U.S. Large Cap Value Series+ ------------------------------------------------------------ Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2011 2010 2009 ---------------------------------------------------------------------------------------------------------------------------- Total Return................................................. 35.68% 18.31% 5.69% 19.96% 11.90% ---------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $14,838,988 $10,589,152 $9,335,107 $8,816,400 $7,508,400 Ratio of Expenses to Average Net Assets...................... 0.11% 0.12% 0.12% 0.12% 0.13% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly)................................................. 0.11% 0.12% 0.12% 0.12% 0.13% Ratio of Net Investment Income to Average Net Assets......... 1.98% 2.15% 1.79% 2.02% 2.42% Portfolio Turnover Rate...................................... 15% 10% 14% 28% 29% ---------------------------------------------------------------------------------------------------------------------------- The DFA International Value Series+ ----------------------------------------------------------- Year Year Year Year Year Ended Ended Ended Ended Ended Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2011 2010 2009 -------------------------------------------------------------------------------------------------------------------------- Total Return................................................. 28.18% 3.17% (8.04)% 11.13% 35.41% -------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Year (thousands).......................... $8,792,130 $7,238,249 $6,955,907 $6,919,633 $6,191,964 Ratio of Expenses to Average Net Assets...................... 0.22% 0.24% 0.23% 0.24% 0.24% Ratio of Expenses to Average Net Assets (Excluding Fees Paid Indirectly)................................................. 0.22% 0.24% 0.23% 0.24% 0.24% Ratio of Net Investment Income to Average Net Assets......... 3.20% 3.75% 3.47% 2.55% 3.22% Portfolio Turnover Rate...................................... 15% 14% 9% 20% 18% -------------------------------------------------------------------------------------------------------------------------- + See Note A in the Notes to Financial Statements. See accompanying Notes to Financial Statements. 59 THE DFA INVESTMENT TRUST COMPANY NOTES TO FINANCIAL STATEMENTS A. Organization: The DFA Investment Trust Company (the "Trust") is an open-end management investment company registered under the Investment Company Act of 1940. The Trust consists of eleven portfolios, two of which, The U.S. Large Cap Value Series and The DFA International Value Series (the "Series"), are presented in this section of the report. The remaining operational portfolios are presented in separate reports. B. Significant Accounting Policies: The following significant accounting policies are in conformity with accounting principles generally accepted in the United States of America. Such policies are consistently followed by the Trust in preparation of its financial statements. The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the fair value of investments, the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates and those differences could be material. 1. Security Valuation: The Series utilize a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels described below: . Level 1 - inputs are quoted prices in active markets for identical securities (including equity securities, open-end investment companies, futures contracts) . Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) . Level 3 - significant unobservable inputs (including the Series' own assumptions in determining the fair value of investments) Securities held by the Series, including over-the-counter securities, are valued at the last quoted sale price at the close of the exchanges on which they are principally traded (official closing price). International equity securities are subject to a fair value factor, as described later in this note. Securities held by the Series that are listed on Nasdaq are valued at the Nasdaq Official Closing Price ("NOCP"). If there is no last reported sale price or NOCP for the day, the Series value the securities at the mean of the most recent quoted bid and asked prices which approximate fair value. Price information on listed securities is taken from the exchange where the security is primarily traded. Generally, securities issued by open-end investment companies are valued using their respective net asset values or public offering prices, as appropriate, for purchase orders placed at the close of the New York Stock Exchange (NYSE). These securities are generally categorized as Level 1 in the hierarchy. Securities for which no market quotations are readily available (including restricted securities), or for which market quotations have become unreliable, are valued in good faith at fair value in accordance with procedures adopted by the Board of Directors/Trustees. Fair value pricing may also be used if events that have a significant effect on the value of an investment (as determined in the discretion of the Investment Committee of Dimensional Fund Advisors LP) occur before the net asset value is calculated. When fair value pricing is used, the prices of securities used by the Series may differ from the quoted or published prices for the same securities on their primary markets or exchanges. These securities are generally categorized as Level 2 in the hierarchy. The DFA International Value Series (the "International Series") will also apply a fair value price in the circumstances described below. Generally, trading in foreign securities markets is completed each day at various times prior to the close of the NYSE. For example, trading in the Japanese securities markets is completed each day at the close of the Tokyo Stock Exchange (normally, 11:00 p.m. PT), which is fourteen hours prior to the close of the NYSE (normally, 1:00 p.m. PT) and the time that the net asset value of the International Series is computed. 60 Due to the time differences between the closings of the relevant foreign securities exchanges and the time the International Series prices its shares at the close of the NYSE, the International Series will fair value its foreign investments when it is determined that the market quotations for the foreign investments are either unreliable or not readily available. The fair value prices will attempt to reflect the impact of the U.S. financial markets' perceptions and trading activities on the International Series' foreign investments since the last closing prices of the foreign investments were calculated on their primary foreign securities markets or exchanges. For these purposes, the Board of Directors/Trustees of the International Series has determined that movements in relevant indices or other appropriate market indicators, after the close of the Tokyo Stock Exchange or the London Stock Exchange, demonstrate that market quotations may be unreliable. Fair valuation of portfolio securities may occur on a daily basis. The fair value pricing by the International Series utilizes data furnished by an independent pricing service (and that data draws upon, among other information, the market values of foreign investments). The fair value prices of portfolio securities generally will be used when it is determined that the use of such prices will have a material impact on the net asset value of the International Series. When the International Series uses fair value pricing, the values assigned to the International Series' foreign investments may not be the quoted or published prices of the investments on their primary markets or exchanges. These securities are generally categorized as Level 2 in the hierarchy. Listed derivatives, such as futures, that are actively traded are valued based on quoted prices from the exchange and are categorized as Level 1 in the hierarchy. A summary of the inputs used to value the Series' investments by each major security type, industry and/or country is disclosed previously in this note. Valuation hierarchy tables have been included at the end of the Summary Schedules of Portfolio Holdings. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For the year ended October 31, 2013, there were no significant transfers between Level 1 and Level 2 and no Level 3 investments held by the Series. 2. Foreign Currency Translation: Securities and other assets and liabilities of the International Series whose values are initially expressed in foreign currencies are translated to U.S. dollars using the mean between the most recent bid and asked prices for the U.S. dollar as quoted by generally recognized reliable sources. Dividend and interest income and certain expenses are translated to U.S. dollars at the rate of exchange on their respective accrual dates. Receivables and payables denominated in foreign currencies are marked-to-market daily based on daily exchange rates and exchange gains or losses are realized upon ultimate receipt or disbursement. The International Series does not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of securities whether realized or unrealized. Realized gains or losses on foreign currency transactions represent net foreign exchange gains or losses from the disposition of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between amounts of interest, dividends and any foreign withholding taxes recorded on the books of the International Series and the U.S. dollar equivalent amounts actually received or paid. 3. Deferred Compensation Plan: Each eligible Director/Trustee of the Trust may elect participation in The Fee Deferral Plan for Independent Directors and Trustees (the "Plan"). Under the Plan, effective January 1, 2002, such Directors/Trustees may defer payment of all or a portion of their total fees earned as a Director/Trustee. These deferred amounts may be treated as though such amounts had been invested in shares of the following funds: U.S. Large Cap Value Portfolio; U.S. Core Equity 1 Portfolio; U.S. Core Equity 2 Portfolio; U.S. Vector Equity Portfolio; U.S. Micro Cap Portfolio; DFA International Value Portfolio; International Core Equity Portfolio; Emerging Markets Portfolio; Emerging Markets Core Equity Portfolio; and/or DFA Two-Year Global Fixed Income Portfolio. Contributions made under the Plan and the change in unrealized appreciation (depreciation) and income are included in Directors'/Trustees' Fees & Expenses. Each Director/Trustee has the option to receive their distribution of proceeds in one of the following methods: lump sum; annual installments over a period of agreed upon years; or quarterly installments over a period of agreed upon years. Each Director/Trustee shall have the right in a notice of election (the "Notice") to defer the 61 receipt of the Director's/Trustee's deferred compensation until a date specified by such Director/Trustee in the Notice, which date may not be sooner than the earlier of: (i) the first business day of January following the year in which such Director/Trustee ceases to be a member of the Board; and (ii) five years following the effective date of the Director's/Trustee's first deferral election. If a Director/Trustee who elects to defer fees fails to designate in the Notice a time or date as of which payment of the Director's/Trustee's deferred fee account shall commence, payment of such amount shall commence as of the first business day of January following the year in which the Director/Trustee ceases to be a member of the Board (unless the Director/Trustee files an amended Notice selecting a different distribution date). As of October 31, 2013, none of the Directors/Trustees have requested or received a distribution of proceeds of a deferred fee account. 4. Other: Security transactions are accounted for as of the trade date. Costs used in determining realized gains and losses on the sale of investment securities and foreign currency are on the basis of identified cost. Dividend income and distributions to shareholders are recorded on the ex-dividend date. Distributions received on securities that represent a return of capital or capital gains are recorded as a reduction of cost of investments or as a realized gain, respectively. The Series estimate the character of distributions received that may be considered return of capital distributions. Interest income is recorded on an accrual basis. Discount and premium on securities purchased are amortized over the lives of the respective securities, utilizing the effective interest method. Expenses directly attributable to a Series are directly charged. Common expenses of the Trust or Series are allocated using methods approved by the Board of Directors/Trustees, generally based on average net assets. The International Series may be subject to taxes imposed by countries in which it invests, with respect to its investments in issuers existing or operating in such countries. Such taxes are generally based on income earned or repatriated and capital gains realized on the sale of such investments. The International Series accrues such taxes when the related income or capital gains are earned or throughout the holding period. Some countries require governmental approval for the repatriation of investment income, capital or the proceeds of sales earned by foreign investors. In addition, if there is a deterioration in a country's balance of payments or for other reasons, a country may impose temporary restrictions on foreign capital remittances abroad. C. Investment Advisor: The Advisor, Dimensional Fund Advisors LP, provides investment advisory services to each Series. For the year ended October 31, 2013, the investment advisory services fees were accrued daily and paid monthly to the Advisor based on an effective annual rate of 0.10% and 0.20% of average daily net assets for The U.S. Large Cap Value Series and The DFA International Value Series, respectively. Earned Income Credit: In addition, the Series entered into arrangements with their custodian whereby net interest earned on uninvested cash balances was used to reduce a portion of the Series' custody expenses. Custody expense in the accompanying financial statements is presented before reduction for credits. During the year ended October 31, 2013, expenses reduced were as follows (amounts in thousands): Fees Paid Indirectly - ---------- The DFA International Value Series. $22 Fees Paid to Officers and Directors/Trustees: Certain Officers and Directors/Trustees of the Advisor are also Officers and Directors/Trustees of the Trust; however, such Officers and Directors/Trustees (with the exception of the Chief Compliance Officer ("CCO")) receive no compensation from the Trust. For the year ended October 31, 2013, the total related amounts paid by the Trust to the CCO were $56 (in thousands). The total related amounts paid by each of the Series are included in Other Expenses on the Statement of Operations. 62 D. Deferred Compensation: At October 31, 2013, the total liability for deferred compensation to Directors/Trustees is included in Accrued Expenses and Other Liabilities on the Statement of Assets and Liabilities as follows (amounts in thousands): The U.S. Large Cap Value Series.... $336 The DFA International Value Series. 249 E. Purchases and Sales of Securities: For the year ended October 31, 2013, the Series made the following purchases and sales of investment securities, other than short-term securities and U.S. government securities (amounts in thousands): Purchases Sales - ---------- ---------- The U.S. Large Cap Value Series.... $2,846,229 $1,917,181 The DFA International Value Series. 1,195,737 1,352,756 There were no purchases or sales of long-term U.S. government securities. F. Federal Income Taxes: No provision for federal income taxes is required since the Series are treated as partnerships for federal income tax purposes. Any net investment income and realized and unrealized gains and losses have been deemed to have been "passed down" to their respective partners. At October 31, 2013, the total cost and aggregate gross unrealized appreciation (depreciation) of securities for federal income tax purposes were different from amounts reported for financial reporting purposes (amounts in thousands): Net Unrealized Federal Unrealized Unrealized Appreciation Tax Cost Appreciation (Depreciation) (Depreciation) ----------- ------------ -------------- -------------- The U.S. Large Cap Value Series.... $10,087,540 $5,403,680 $ (57,424) $5,346,256 The DFA International Value Series. 7,749,972 2,159,515 (437,185) 1,722,330 The difference between book basis and tax-basis unrealized appreciation (depreciation) is primarily attributable to the tax deferral of losses on wash sales. Accounting for Uncertainty in Income Taxes sets forth a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. Management has analyzed each Series' tax positions and has concluded that no additional provision for income tax is required in any Series' financial statements. No Series is aware of any tax positions for which it is more likely than not that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. Each of the Series' federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service. G. Financial Instruments: In accordance with the Series' investment objectives and policies, the Series may invest in certain financial instruments that have off-balance sheet risk in excess of the amounts recognized in the financial statements and concentrations of credit and market risk. These instruments and their significant corresponding risks are described below: 1. Repurchase Agreements: The Series may purchase certain U.S. Government securities subject to the counterparty's agreement to repurchase them at an agreed upon date and price. The counterparty will be required on a daily basis to maintain the value of the collateral subject to the agreement at not less than the repurchase price (including accrued interest). The agreements are conditioned upon the collateral being deposited under the 63 Federal Reserve book-entry system with the Series' custodian or a third party sub-custodian. In the event of default or bankruptcy by the other party to the agreement, retention of the collateral may be subject to legal proceedings. 2. Foreign Market Risks: Investments in foreign markets may involve certain considerations and risks not typically associated with investments in the United States of America, including the possibility of future political and economic developments and the level of foreign government supervision and regulation of foreign securities markets. These markets are generally smaller, less liquid and more volatile than the major securities markets in the United States of America. Consequently, acquisition and disposition of international securities held by the Series may be inhibited. Derivative Financial Instruments: Summarized below are the specific types of derivative instruments used by Series. 3. Futures Contracts: The Series may enter into futures contracts to gain market exposure on uninvested cash pending investment in securities or to maintain liquidity to pay redemptions. Upon entering into a futures contract, the Series deposit cash or pledge U.S. Government securities to a broker, equal to the minimum "initial margin" requirements of the exchange on which the contract is traded. Subsequent payments are received from or paid to the broker each day, based on the daily fluctuation in the market value of the contract. These receipts or payments are known as "variation margin" and are recorded daily by the Series as unrealized gains or losses until the contracts are closed. When the contracts are closed, the Series record a realized gain or loss, which is presented in the Statements of Operations as a net realized gain or loss on futures, equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. Risks may arise upon entering into futures contracts from potential imperfect price correlations between the futures contracts and the underlying securities, from the possibility of an illiquid secondary market for these instruments and from the possibility that the Series could lose more than the initial margin requirements. The Series entering into stock index futures are subject to equity price risk from those futures contracts. Counterparty credit risk related to exchange-traded futures is minimal because the exchange's clearinghouse, as counterparty to all exchange-traded futures, guarantees the futures against default. The following is a summary of the location and value of derivative instrument holdings on the Series' Statement of Operations categorized by primary risk exposure for the year ended October 31, 2013 (amount in thousands): Derivative Type Location of Gain (Loss) on Derivatives Recognized in Income --------------- ----------------------------------------------------------- Equity contracts Net Realized Gain (Loss) on: Futures Realized Gain (Loss) on Derivatives Recognized in Income -------------------------------- Equity Contracts -------------------------------- The DFA International Value Series*. $(1,587) * As of October 31, 2013, there were no futures contracts outstanding. During the year ended October 31, 2013, the Series had limited activity in futures contracts. H. Line of Credit: The Trust, together with other Dimensional-advised portfolios, entered into a $250 million unsecured discretionary line of credit effective June 22, 2011 with The Bank of New York Mellon, which was terminated by The Bank of New York Mellon effective March 29, 2013. Prior to termination, each portfolio was permitted to borrow, subject to its investment limitations, up to a maximum of $250 million, as long as total borrowings under the line of credit did not exceed $250 million in the aggregate. Borrowings under the line of credit were charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio was individually, and not jointly, liable for its particular advances under the line of credit. There was no commitment fee on the unused portion of the line of credit. 64 The Trust, together with other Dimensional-advised portfolios, has entered into a $500 million unsecured discretionary line of credit effective March 4, 2013 with its domestic custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. There is no commitment fee on the unused portion of the line of credit. The agreement for the discretionary line of credit may be terminated by either party at any time. The line of credit is scheduled to expire on March 3, 2014. The Trust, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit effective January 11, 2013 with its international custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. There is no commitment fee on the unused portion of the line of credit. The agreement for the line of credit expires on January 10, 2014. For the year ended October 31, 2013, borrowings by the Series under the lines of credit were as follows (amounts in thousands, except percentages and days): Weighted Weighted Number of Interest Maximum Amount Average Average Days Expense Borrowed During Interest Rate Loan Balance Outstanding* Incurred The Period ------------- ------------ ------------ -------- --------------- The U.S. Large Cap Value Series.... 0.89% $ 6,790 20 $ 4 $23,318 The DFA International Value Series. 0.90% 12,445 46 14 76,121 * Number of Days Outstanding represents the total of single or consecutive days during the year ended October 31, 2013, that each Series' available line of credit was utilized. There were no outstanding borrowings by the Series under the lines of credit as of October 31, 2013. I. Securities Lending: As of October 31, 2013, each Series had securities on loan to brokers/dealers, for which each Series received cash collateral. Each Series invests the cash collateral, as described below, and records a liability for the return of the collateral, during the period the securities are on loan. In addition, The DFA International Value Series received non-cash collateral consisting of short and/or long term U.S. Treasury securities with a market value of $29,499 (in thousands). Loans of securities are expected at all times to be secured by collateral equal to at least (i) 100% of the current market value of the loaned securities with respect to securities of the U.S. government or its agencies, (ii) 102% of the current market value of the loaned securities with respect to U.S. securities, and (iii) 105% of the current market value of the loaned securities with respect to foreign securities. However, daily market fluctuations could cause the Series' collateral to be lower or higher than the expected thresholds. If this were to occur, the collateral would be adjusted the next business day to ensure adequate collateralization. In the event of default or bankruptcy by the other party to the agreement, realization and/or retention of the collateral may be subject to legal proceedings. If the borrower fails to return loaned securities, and cash collateral being maintained by the borrower is insufficient to cover the value of loaned securities and provided such collateral insufficiency is not the result of investment losses, the lending agent has agreed to pay the amount of the shortfall to the Series or, at the option of the lending agent, to replace the securities. Subject to their stated investment policies, each Series will generally invest the cash collateral received for the loaned securities in The DFA Short Term Investment Fund (the "Money Market Series"), an affiliated registered money market fund advised by the Advisor for which the Advisor receives a management fee of 0.05% of the average daily net assets of the Money Market Series. Such Series also may invest the cash collateral received for the loaned securities in securities of the U.S. government or its agencies, repurchase agreements collateralized by securities of the U.S. government or its agencies, and affiliated and unaffiliated registered and unregistered money market funds. For purposes of this paragraph, agencies include both agency debentures and agency mortgage-backed securities. In addition, each Series will be able to terminate the loan at any time and will receive reasonable 65 interest on the loan, as well as amounts equal to any dividends, interest or other distributions on the loaned securities. However, dividend income received from loaned securities may not be eligible to be taxed at qualified dividend income rates. J. Indemnitees; Contractual Obligations: Under the Trust's organizational documents, its officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust. In the normal course of business, the Trust enters into contracts that contain a variety of representations and warranties which provide general indemnification. The Trust's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust and/or its affiliates that have not yet occurred. However, based on experience, the Trust expects the risk of loss to be remote. K. Recently Issued Accounting Standards: In January 2013, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") No. 2013-01 "Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities" ("ASU 2013-01") which amended Accounting Standards Codification Subtopic 210-20, Balance Sheet Offsetting. ASU 2013-01 clarified the scope of ASU No. 2011-11 "Disclosures about Offsetting Assets and Liabilities" ("ASU 2011-11"). ASU 2011-11 requires an entity to disclose information about offsetting and related arrangements to enable users of that entity's financial statements to understand the effect of those arrangements on its financial position. ASU 2013-01 clarifies the scope of ASU 2011-11 as applying to derivatives accounted for in accordance with Topic 815, Derivatives and Hedging, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are offset either in accordance with other requirements of GAAP or subject to an enforceable master netting arrangement or similar agreement. ASU No. 2011-11 is effective for annual periods beginning on or after January 1, 2013, and interim periods within those annual periods. Management is evaluating any impact ASU No. 2011-11 may have on the financial statements. L. Other: The Series are subject to claims and suits that arise from time to time in the ordinary course of business (for example, in The Tribune Company Bankruptcy, certain creditors have filed actions against all shareholders of The Tribune Company who tendered shares when the Tribune Company went private in 2007 in a leveraged buyout transaction, seeking the return of proceeds received by the shareholders). Although management currently believes that resolving claims against us, individually or in aggregate, will not have a material adverse impact on our financial position, our results of operations, or our cash flows, these matters are subject to inherent uncertainties and management's view of these matters may change in the future. The U.S. Large Cap Value Series has been named as a defendant in a multi-district litigation pending in the United States District Court for the Southern District of New York (the "Court"), captioned In re Tribune Company Fraudulent Conveyance Litigation, No. 11-MD-2296-RJS (the "Tribune MDL"). The Tribune MDL arises from the 2007 leveraged buyout of The Tribune Company ("Tribune") (the "LBO") and Tribune's subsequent bankruptcy and reorganization. In connection with the LBO, thousands of Tribune shareholders, including The U.S. Large Cap Value Series, sold Tribune shares back to Tribune for $34 per share. The Tribune MDL includes a series of lawsuits brought by individual creditors of Tribune (the "Individual Creditor Actions") and a lawsuit brought by a court-appointed trustee on behalf of the committee of unsecured creditors of Tribune (the "Committee Action," and with the Individual Creditor Actions, collectively referred to as the "Lawsuits"). The Lawsuits seek to unwind the LBO stock repurchases as fraudulent transfers and recover the stock repurchase proceeds paid to the Tribune shareholders who participated in the LBO. On September 23, 2013, the Court entered an order dismissing the Individual Creditor Actions in their entirety on the grounds that the individual creditor plaintiffs lack standing to pursue their claims. The Court's dismissal order is on appeal to the Second Circuit. The Committee Action remains pending, and the Court currently is coordinating with the parties to establish a schedule for motions to dismiss in the Committee Action. 66 Litigation counsel to The U.S. Large Cap Value Series in the Lawsuits does not believe that it is possible, at this early stage in the proceedings, to predict with any reasonable certainty the probable outcome of the Lawsuits or quantify the ultimate exposure to The U.S. Large Cap Value Series arising from the Lawsuits. Until The U.S. Large Cap Value Series can do so, no reduction of the net asset value of The U.S. Large Cap Value Series will be made relating to the Lawsuits. However, even if the plaintiffs in the Lawsuits were to obtain the full recovery the plaintiffs seek, the amount would be less than 1% of The U.S. Large Cap Value Series' net asset value at this time. The U.S. Large Cap Value Series also cannot predict what its size might be at the time the cost of the Lawsuits might be quantifiable and thus potentially deducted from its net asset value. Therefore, at this time, those investors buying or redeeming shares of The U.S. Large Cap Value Series will pay or receive, as the case may be, a price based on the net asset value of The U.S. Large Cap Value Series, with no adjustment relating to the Lawsuits. The attorneys' fees and costs relating to the Lawsuits will be taken as expenses by The U.S. Large Cap Value Series as incurred and in a manner similar to any other expense incurred by The U.S. Large Cap Value Series. M. Subsequent Event Evaluations: Management has evaluated the impact of all subsequent events on the Series and has determined that there are no subsequent events requiring recognition or disclosure in the financial statements. 67 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Shareholders of the Series, as defined, and Board of Trustees of The DFA Investment Trust Company: In our opinion, the accompanying statements of assets and liabilities, including the summary schedules of portfolio holdings, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of The U.S. Large Cap Value Series and The DFA International Value Series (constituting portfolios within The DFA Investment Trust Company, hereafter referred to as the "Series") at October 31, 2013, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period then ended and the financial highlights for each of the five years in the period then ended, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as "financial statements") are the responsibility of the Series' 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, 2013 by correspondence with the custodians, brokers, and the transfer agent of the investee fund, provide a reasonable basis for our opinion. PricewaterhouseCoopers LLP Philadelphia, Pennsylvania December 20, 2013 68 FUND MANAGEMENT (Unaudited) Trustees/Directors Each Board of Trustees/Directors (each, the "Board" and collectively, the "Boards") of The DFA Investment Trust Company ("DFAITC"), DFA Investment Dimensions Group Inc. ("DFAIDG"), Dimensional Investment Group Inc. ("DIG") and Dimensional Emerging Markets Value Fund ("DEM") (each, the "Fund" and collectively, the "Funds") is responsible for establishing the Funds' policies and for overseeing the management of the Funds. The Trustees/Directors of the Funds, including all of the disinterested Trustees/Directors, have adopted written procedures to monitor potential conflicts of interest that might develop between portfolios of the Funds (the "Feeder Portfolios") that invest in certain series of DFAITC or DEM (the "Master Funds"). Each Board has three standing committees, an Audit Committee, a Nominating Committee, and an Investment Review Committee (the "Review Committee"). The Audit Committee is comprised of George M. Constantinides, Roger G. Ibbotson and Abbie J. Smith. Each member of the Audit Committee is a disinterested Trustee/Director. The Audit Committee oversees the Fund's accounting and financial reporting policies and practices, the Fund's internal controls, the Fund's financial statements and the independent audits thereof and performs other oversight functions as requested by the Board. The Audit Committee recommends the appointment of each Fund's independent registered certified public accounting firm and also acts as a liaison between the Fund's independent registered certified public accounting firm and the full Board. There were two Audit Committee meetings held during the fiscal year ended October 31, 2013. Each Board's Nominating Committee is comprised of George M. Constantinides, John P. Gould, Roger G. Ibbotson, Myron S. Scholes, Edward P. Lazear and Abbie J. Smith. Each member of the Nominating Committee is a disinterested Trustee/Director. The Nominating Committee for each Board makes recommendations for nominations of disinterested and interested members on the Board to the full Board. The Nominating Committee evaluates a candidate's qualification for Board membership and the independence of such candidate from the Advisor and other principal service providers. There was one Nominating Committee meeting held during the fiscal year ended October 31, 2013. Each Board's Review Committee consists of both interested and disinterested Trustees/Directors. The Review Committee is comprised of John P. Gould, Edward P. Lazear, Myron S. Scholes and Eduardo A. Repetto. The Review Committee assists the Board in carrying out its fiduciary duties with respect to the oversight of the Fund and its performance. At the request of the Board or the Advisor, the Review Committee may (i) review the design of possible new series of the Fund, (ii) review performance of existing portfolios of the Fund and discuss and recommend possible enhancements to the portfolios' investment strategies, (iii) review proposals by the Advisor to modify or enhance the investment strategies or policies of each portfolio, and (iv) consider issues relating to investment services for each portfolio of the Fund. The Review Committee was formed on December 17, 2010, and there were two Review Committee meetings held during the fiscal year ended October 31, 2013. Certain biographical information for each disinterested Trustee/Director and each interested Trustee/Director of the Funds is set forth in the tables below, including a description of each Trustee/Director's experience as a Trustee/ Director of the Funds and as a director or trustee of other funds, as well as other recent professional experience. The statements of additional information (together, "SAI") of the Funds include additional information about each Trustee/Director. You may obtain copies of the SAI and prospectus of each Fund advised by Dimensional Fund Advisors LP by calling collect (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746. Prospectuses are also available at www.dimensional.com. 69 Name, Position Portfolios within the with the Fund, Term of Office/1/ and DFA Fund Complex/2/ Principal Occupation(s) During Past 5 Years and Address and Year of Birth Length of Service Overseen Other Directorships of Public Companies Held ------------------------------------------------------------------------------------------------------------------------------- Disinterested Trustees/Directors ------------------------------------------------------------------------------------------------------------------------------- George M. Constantinides Since Inception 106 portfolios in 4 Leo Melamed Professor of Finance, The University Director of DFAIDG and DIG. investment companies of Chicago Booth School of Business. Trustee of DFAITC and DEM. The University of Chicago Booth School of Business 5807 S. Woodlawn Avenue Chicago, IL 60637 1947 ------------------------------------------------------------------------------------------------------------------------------- John P. Gould Since Inception 106 portfolios in 4 Steven G. Rothmeier Distinguished Service Director of DFAIDG and DIG. investment companies Professor of Economics, The University of Chicago Trustee of DFAITC and DEM. Booth School of Business (since 1965). Member The University of Chicago and Chair, Competitive Markets Advisory Booth School of Business Committee, Chicago Mercantile Exchange (futures 5807 S. Woodlawn Avenue trading exchange) (since 2004). Formerly, Director Chicago, IL 60637 of UNext, Inc. (1999-2006). Trustee, Harbor Fund 1939 (registered investment company) (30 Portfolios) (since 1994). Formerly, Member of the Board of Milwaukee Mutual Insurance Company (1997-2010). ------------------------------------------------------------------------------------------------------------------------------- Roger G. Ibbotson Since Inception 106 portfolios in 4 Professor in Practice of Finance, Yale School of Director of DFAIDG and DIG. investment companies Management (since 1984). Chairman, CIO and Trustee of DFAITC and DEM. Partner, Zebra Capital Management, LLC (hedge Yale School of Management fund manager) (since 2001). Consultant to P.O. Box 208200 Morningstar, Inc. (since 2006). Formerly, New Haven, CT 06520-8200 Chairman, Ibbotson Associates, Inc., Chicago, IL 1943 (software data publishing and consulting) (1977- 2006). Formerly, Director, BIRR Portfolio Analysis, Inc. (software products) (1990-2010). ------------------------------------------------------------------------------------------------------------------------------- Edward P. Lazear Since Inception 106 portfolios in 4 Morris Arnold Cox Senior Fellow, Hoover Institution Director of DFAIDG and DIG. investment companies (since 2002). Jack Steele Parker Professor of Trustee of DFAITC and DEM. Human Resources Management and Economics, Stanford University Graduate School of Business, Stanford University Graduate School of Business (since 1995). Cornerstone Research (expert 518 Memorial Way testimony and economic and financial analysis) Stanford, CA 94305-5015 (since 2009). Formerly, Chairman of the President 1948 George W. Bush's Council of Economic Advisers (2006-2009). Formerly, Council of Economic Advisors, State of California (2005-2006). Formerly, Commissioner, White House Panel on Tax Reform (2005). ------------------------------------------------------------------------------------------------------------------------------- Myron S. Scholes Since Inception 106 portfolios in 4 Frank E. Buck Professor Emeritus of Finance, Director of DFAIDG and DIG. investment companies Stanford University (since 1981). Formerly, Trustee of DFAITC and DEM. Chairman, Platinum Grove Asset Management, c/o Dimensional Fund L.P. (hedge fund) (formerly, Oak Hill Platinum Advisors, LP Partners) (1999-2009). Formerly, Managing 6300 Bee Cave Road Partner, Oak Hill Capital Management (private Building 1 equity firm) (until 2004). Director, American Austin, TX 78746 Century Fund Complex (registered investment 1941 companies) (40 Portfolios) (since 1980). Formerly, Director, Chicago Mercantile Exchange (2001- 2008). ------------------------------------------------------------------------------------------------------------------------------- Abbie J. Smith Since Inception 106 portfolios in 4 Boris and Irene Stern Distinguished Service Director of DFAIDG and DIG. investment companies Professor of Accounting, The University of Chicago Trustee of DFAITC and DEM. Booth School of Business (since 1980). Co- The University of Chicago Director Investment Research, Fundamental Booth School of Business Investment Advisors (hedge fund) (since 2008). 5807 S. Woodlawn Avenue Director, HNI Corporation (formerly known as HON Chicago, IL 60637 Industries Inc.) (office furniture) (since 2000). 1953 Director, Ryder System Inc. (transportation, logistics and supply-chain management) (since 2003). Trustee, UBS Funds (4 investment companies within the fund complex) (52 portfolios) (since 2009). 70 Name, Position Portfolios within the Principal Occupation(s) During Past 5 Years with the Fund, Term of Office/1/ and DFA Fund Complex/2/ and Other Directorships of Public Companies Address and Year of Birth Length of Service Overseen Held ---------------------------------------------------------------------------------------------------------------------------- Interested Trustees/Directors* ---------------------------------------------------------------------------------------------------------------------------- David G. Booth Since Inception 106 portfolios in 4 Chairman, Director/Trustee, President, and Chairman, Director, Co-Chief investment companies Co-Chief Executive Officer (since January Executive Officer and President 2010) of Dimensional Holdings Inc., of DFAIDG and DIG. Dimensional Fund Advisors LP, DFA Securities Chairman, Trustee, Co-Chief LLC, DEM, DFAIDG, DIG and DFAITC. Director Executive Officer and President of Dimensional Fund Advisors Ltd., of DFAITC and DEM. Dimensional Funds PLC, Dimensional Funds II 6300 Bee Cave Road, PLC, DFA Australia Limited, Dimensional Building One Cayman Commodity Fund I Ltd., Dimensional Austin, Texas 78746 Japan Ltd. and Dimensional Advisors Ltd. 1946 Chairman, Director and Co-Chief Executive Officer of Dimensional Fund Advisors Canada ULC. President, Dimensional SmartNest (US) LLC. Limited Partner, Oak Hill Partners (since 2001) and VSC Investors, LLC (since 2007). Trustee, The University of Chicago. Trustee, University of Kansas Endowment Association. Formerly, Chief Executive Officer (until 2010) and Chief Investment Officer (2003-2007) of Dimensional Fund Advisors LP, DFA Securities LLC, DEM, DFAIDG, DIG , DFAITC, Dimensional Holdings Inc. Formerly, Chief Investment Officer of Dimensional Fund Advisors Ltd. Formerly, President and Chief Investment Officer of DFA Australia Limited. Formerly, Director, SA Funds (registered investment company). ---------------------------------------------------------------------------------------------------------------------------- Eduardo A. Repetto Since 2009 106 portfolios in 4 Co-Chief Executive Officer (since January Director, Co-Chief Executive investment companies 2010), Chief Investment Officer (since March Officer and Chief Investment 2007) and Director/Trustee of Dimensional Officer of DFAIDG and DIG. Holdings Inc., Dimensional Fund Advisors LP, Trustee, Co-Chief Executive DFA Securities LLC, DEM, DFAIDG, DIG, DFAITC Officer and Chief Investment and Dimensional Cayman Commodity Fund I Ltd. Officer of DFAITC and DEM. Director, Co-Chief Executive Officer, 6300 Bee Cave Road, President and Chief Investment Officer of Building One Dimensional Fund Advisors Canada ULC. Chief Austin, TX 78746 Investment Officer, Vice President and 1967 Director of DFA Australia Limited. Director of Dimensional Fund Advisors Ltd., Dimensional Funds PLC, Dimensional Funds II PLC, Dimensional Japan Ltd. and Dimensional Advisors Ltd., Formerly President of Dimensional Holdings Inc, Dimensional Fund Advisors LP, DFA Securities LLC, DEM, DFAIDG, DIG, DFAITC and Dimensional Fund Advisors Canada ULC. /1/ Each Trustee/Director holds office for an indefinite term until his or her successor is elected and qualified. /2/ Each Trustee/Director is a director or trustee of each of the four registered investment companies within the DFA Fund Complex, which includes the Funds. * Interested Trustees/Directors are described as such because they are deemed to be "interested persons," as that term is defined under the Investment Company Act of 1940, as amended, due to their positions with Dimensional Fund Advisors LP. 71 Officers The name, year of birth, information regarding positions with the Funds and the principal occupation for each officer of the Funds are set forth below. Each officer listed below holds the same office (except as otherwise noted) in the following entities: Dimensional Fund Advisors LP (prior to November 3, 2006, Dimensional Fund Advisors Inc.) ("Dimensional"), Dimensional Holdings Inc., DFA Securities LLC (prior to April 6, 2009, DFA Securities Inc.), DFAIDG, DIG, DFAITC and DEM (collectively, the "DFA Entities"). The address of each officer is: Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, unless otherwise indicated. Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years ------------------------------------------------------------------------------------------------------------------------------- Officers ------------------------------------------------------------------------------------------------------------------------------- April A. Aandal Since 2008 Vice President of all the DFA Entities. Vice President 1963 ------------------------------------------------------------------------------------------------------------------------------- Robyn G. Alcorta Since 2012 Vice President of all the DFA Entities. Formerly, Vice President Vice President Business Development at Capson Physicians Insurance Company 1974 (2010-2012); Vice President at Charles Schwab (2007-2010). ------------------------------------------------------------------------------------------------------------------------------- Darryl D. Avery Since 2005 Vice President of all the DFA Entities. Vice President 1966 ------------------------------------------------------------------------------------------------------------------------------- Arthur H. Barlow Since 1993 Vice President of all the DFA Entities. Director and Managing Vice President Director of DFAL (since September 2013). 1955 ------------------------------------------------------------------------------------------------------------------------------- Scott A. Bosworth Since 2007 Vice President of all the DFA Entities. Vice President 1968 ------------------------------------------------------------------------------------------------------------------------------- Valerie A. Brown Since 2001 Vice President and Assistant Secretary of all the DFA Entities, DFA Vice President and Assistant Secretary Australia Limited, Dimensional Fund Advisors Ltd., Dimensional 1967 Cayman Commodity Fund I Ltd., Dimensional Fund Advisors Pte. Ltd., Dimensional Hong Kong Limited. Director, Vice President and Assistant Secretary of Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------------------- David P. Butler Since 2007 Vice President of all the DFA Entities. Head of Global Financial Vice President Services of Dimensional (since 2008). 1964 ------------------------------------------------------------------------------------------------------------------------------- Douglas M. Byrkit Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (December 2010-January 2012); Regional Director 1970 at Russell Investments (April 2006-December 2010). ------------------------------------------------------------------------------------------------------------------------------- James G. Charles Since 2011 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (2008-2010); Vice President, Client Portfolio 1956 Manager at American Century Investments (2001-2008). ------------------------------------------------------------------------------------------------------------------------------- Joseph H. Chi Since 2009 Vice President of all the DFA Entities. Co-Head of Portfolio Vice President Management of Dimensional (since March 2012). Sr. Portfolio 1966 Manager of Dimensional (since January 2012). Formerly, Portfolio Manager for Dimensional (October 2005-January 2012). ------------------------------------------------------------------------------------------------------------------------------- Stephen A. Clark Since 2004 Vice President of all the DFA Entities, DFA Australia Limited and Vice President Dimensional Fund Advisors Canada ULC. Head of Institutional, 1972 North America (since March 2012). Formerly, Head of Portfolio Management of Dimensional (January 2006-March 2012). ------------------------------------------------------------------------------------------------------------------------------- Matt B. Cobb Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since September 2011). Formerly, Vice President at 1971 MullinTBG 92005-2011). ------------------------------------------------------------------------------------------------------------------------------- Ryan Cooper Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since 2003). 1979 ------------------------------------------------------------------------------------------------------------------------------- Jeffrey D. Cornell Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (August 2002-January 2012). 1976 72 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years ------------------------------------------------------------------------------------------------------------------------------- Robert P. Cornell Since 2007 Vice President of all the DFA Entities. Vice President 1949 ------------------------------------------------------------------------------------------------------------------------------- George H. Crane Since 2010 Vice President of all the DFA Entities. Formerly, Senior Vice Vice President President and Managing Director at State Street Bank & Trust 1955 Company (2007-2008). ------------------------------------------------------------------------------------------------------------------------------- Christopher S. Crossan Since 2004 Vice President and Global Chief Compliance Officer of all the DFA Vice President and Global Chief Entities, DFA Australia Limited, Dimensional Fund Advisors Ltd., Compliance Officer and Dimensional SmartNest (US) LLC. Chief Compliance Officer of 1965 Dimensional Fund Advisors Canada ULC. ------------------------------------------------------------------------------------------------------------------------------- James L. Davis Since 1999 Vice President of all the DFA Entities. Vice President 1956 ------------------------------------------------------------------------------------------------------------------------------- Robert T. Deere Since 1994 Vice President of all the DFA Entities, DFA Australia Limited and Vice President Dimensional Fund Advisors Canada ULC. 1957 ------------------------------------------------------------------------------------------------------------------------------- Peter F. Dillard Since 2010 Vice President of all the DFA Entities. Research Associate for Vice President Dimensional (since August 2008). 1972 ------------------------------------------------------------------------------------------------------------------------------- Robert W. Dintzner Since 2001 Vice President of all the DFA Entities. Vice President 1970 ------------------------------------------------------------------------------------------------------------------------------- Richard A. Eustice Since 1998 Vice President and Assistant Secretary of all the DFA Entities and Vice President and Assistant Secretary DFA Australia Limited. 1965 ------------------------------------------------------------------------------------------------------------------------------- Gretchen A. Flicker Since 2004 Vice President of all the DFA Entities. Vice President 1971 ------------------------------------------------------------------------------------------------------------------------------- Jed S. Fogdall Since 2008 Vice President of all the DFA Entities. Co-Head of Portfolio Vice President Management of Dimensional (since March 2012). Sr. Portfolio 1974 Manager of Dimensional (since January 2012). ------------------------------------------------------------------------------------------------------------------------------- Jeremy P. Freeman Since 2009 Vice President of all the DFA Entities. Senior Technology Manager Vice President for Dimensional (since June 2006). 1970 ------------------------------------------------------------------------------------------------------------------------------- Mark R. Gochnour Since 2007 Vice President of all the DFA Entities. Vice President 1967 ------------------------------------------------------------------------------------------------------------------------------- Tom M. Goodrum Since 2012 Vice President of all the DFA Entities. Formerly, Managing Director Vice President at BlackRock (2004-January 2012). 1968 ------------------------------------------------------------------------------------------------------------------------------- Henry F. Gray Since 2000 Vice President of all the DFA Entities. Vice President 1967 ------------------------------------------------------------------------------------------------------------------------------- John T. Gray Since 2007 Vice President of all the DFA Entities. Vice President 1974 ------------------------------------------------------------------------------------------------------------------------------- Christian Gunther Since 2011 Vice President of all the DFA Entities. Senior Trader for Vice President Dimensional (since 2012). Formerly, Senior Trader for Dimensional 1975 Fund Advisors Ltd. (2009-2012); Trader for Dimensional Fund Ltd. (2008-2009); Trader for Dimensional (2004-2008). ------------------------------------------------------------------------------------------------------------------------------- Joel H. Hefner Since 2007 Vice President of all the DFA Entities. Vice President 1967 ------------------------------------------------------------------------------------------------------------------------------- Julie C. Henderson Since 2005 Vice President and Fund Controller of all the DFA Entities Vice President and Fund Controller Dimensional Cayman Commodity Fund I Ltd. and Dimensional 1974 Japan Ltd. ------------------------------------------------------------------------------------------------------------------------------- Kevin B. Hight Since 2005 Vice President of all the DFA Entities. Vice President 1967 73 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years ---------------------------------------------------------------------------------------------------------------------- Christine W. Ho Since 2004 Vice President of all the DFA Entities. Vice President 1967 ---------------------------------------------------------------------------------------------------------------------- Michael C. Horvath Since 2011 Vice President of all the DFA Entities. Formerly, Managing Director, Vice President Co-Head Global Consultant Relations at BlackRock (2004-2011). 1960 ---------------------------------------------------------------------------------------------------------------------- William A. Irvine Since 2013 Vice President of all the DFA Entities, Regional Director For Vice President Dimensional (since 2012). Formerly, Vice President of Institutional 1957 Business Development at Eaton Vance (2005-2011). ---------------------------------------------------------------------------------------------------------------------- Jeff J. Jeon Since 2004 Vice President of all the DFA Entities and Dimensional Cayman Vice President Commodity Fund I Ltd. 1973 ---------------------------------------------------------------------------------------------------------------------- Stephen W. Jones Since 2012 Vice President of all the DFA Entities. Formerly, Facilities Manager Vice President for Dimensional (October 2008-January 2012). 1968 ---------------------------------------------------------------------------------------------------------------------- Patrick M. Keating Since 2003 Vice President and Chief Operating Officer of all the DFA Entities, Vice President Dimensional Cayman Commodity Fund I Ltd., Dimensional Japan 1954 Ltd., Dimensional Advisors Ltd., Dimensional Hong Kong Limited and Chief Operating Officer of Dimensional. Director, Vice President and Chief Privacy Officer of Dimensional Fund Advisors Canada ULC. Director of DFA Australia Limited, Dimensional Fund Advisors Ltd., Dimensional Japan Ltd. and Dimensional Advisors Ltd. Director and Vice President of Dimensional Hong Kong Limited and Dimensional Fund Advisors Pte. Ltd. ---------------------------------------------------------------------------------------------------------------------- Andrew K. Keiper Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since October 2004). 1977 ---------------------------------------------------------------------------------------------------------------------- Glenn E. Kemp Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional Fund Advisors LP (April 2006-January 2012). 1948 ---------------------------------------------------------------------------------------------------------------------- David M. Kershner Since 2010 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since June 2004). 1971 ---------------------------------------------------------------------------------------------------------------------- Timothy R. Kohn Since 2011 Vice President of all the DFA Entities. Head of Defined Contribution Vice President Sales for Dimensional (since August 2010). Formerly, Chief DC 1971 Strategist, Barclays Global Investors (2005-2009). ---------------------------------------------------------------------------------------------------------------------- Joseph F. Kolerich Since 2004 Vice President of all the DFA Entities. Sr. Portfolio Manager of Vice President Dimensional (since January 2012).Formerly, Portfolio Manager for 1971 Dimensional (April 2001-January 2012). ---------------------------------------------------------------------------------------------------------------------- Mark D. Krasniewski Since 2013 Vice President of all the DFA Entities. Formerly, Senior Associate Vice President Investment Analytics and Data for Dimensional (January 2012- 1981 December 2012); Systems Developer for Dimensional (June 2007- December 2011). ---------------------------------------------------------------------------------------------------------------------- Stephen W. Kurad Since 2011 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (2007-2010). 1968 ---------------------------------------------------------------------------------------------------------------------- Michael F. Lane Since 2004 Vice President of all the DFA Entities. Chief Executive Officer of Vice President Dimensional SmartNest (US) LLC (since 2012). 1967 ---------------------------------------------------------------------------------------------------------------------- Francis R. Lao Since 2011 Vice President of all the DFA Entities. Formerly, Vice President - Vice President Global Operations at Janus Capital Group (2005-2011). 1969 ---------------------------------------------------------------------------------------------------------------------- David F. LaRusso Since 2013 Vice President of all the DFA Entities. Formerly, Senior Trader for Vice President Dimensional (January 2010-December 2012); Trader for 1978 Dimensional (2000-2009). ---------------------------------------------------------------------------------------------------------------------- Juliet H. Lee Since 2005 Vice President of all the DFA Entities. Vice President 1971 74 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years --------------------------------------------------------------------------------------------------------------------------------- Marlena I. Lee Since 2011 Vice President of all the DFA Entities. Formerly, Research Vice President Associate for Dimensional (July 2008-2010). 1980 --------------------------------------------------------------------------------------------------------------------------------- John B. Lessley Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since January 2008). 1960 --------------------------------------------------------------------------------------------------------------------------------- Apollo D. Lupescu Since 2009 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since February 2004). 1969 --------------------------------------------------------------------------------------------------------------------------------- Kenneth M. Manell Since 2010 Vice President of all the DFA Entities and Dimensional Cayman Vice President Commodity Fund I Ltd. Counsel for Dimensional (since September 1972 2006). --------------------------------------------------------------------------------------------------------------------------------- Rose C. Manziano Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (Since August 2010). Formerly, Vice President, Sales 1971 and Business Development at AdvisorsIG (PPMG) (2009- 2010); Vice President at Credit Suisse (2007-2009). --------------------------------------------------------------------------------------------------------------------------------- Aaron M. Marcus Since 2008 Vice President of all the DFA Entities and Head of Global Human Vice President & Head of Global Resources of Dimensional. Human Resources 1970 --------------------------------------------------------------------------------------------------------------------------------- David R. Martin Since 2007 Vice President, Chief Financial Officer and Treasurer of all the DFA Vice President, Chief Financial Officer Entities. Director, Vice President, Chief Financial Officer and and Treasurer Treasurer of Dimensional Fund Advisors Ltd., DFA Australia 1956 Limited, Dimensional Advisors Ltd., Dimensional Fund Advisors Pte. Ltd., Dimensional Hong Kong Limited and Dimensional Fund Advisors Canada ULC. Chief Financial Officer, Treasurer, and Vice President of Dimensional SmartNest (US) LLC, and Dimensional Cayman Commodity Fund I Ltd. Director of Dimensional Funds PLC and Dimensional Funds II PLC. Statutory Auditor of Dimensional Japan Ltd. --------------------------------------------------------------------------------------------------------------------------------- Matthew H. Miller Since 2013 Vice President of all the DFA Entities. Client Service Manager for Vice President Dimensional (Since 2012). Formerly, Regional Director for 1978 Dimensional (2008-2011; Senior Associate at Dimensional (2007- 2010). --------------------------------------------------------------------------------------------------------------------------------- Jonathan G. Nelson Since 2013 Vice President of all the DFA Entities. Manager, Investment Vice President Systems at Dimensional (Since 2011). Formerly, Project Manager 1971 for Dimensional (2007-2010). --------------------------------------------------------------------------------------------------------------------------------- Catherine L. Newell Vice President Vice President and Secretary of all the DFA Entities. Director, Vice Vice President and Secretary since 1997 and President and Secretary of DFA Australia Limited and Dimensional 1964 Secretary Fund Advisors Ltd. (since February 2002, April 1997 and May 2002, since 2000 respectively). Vice President and Secretary of Dimensional Fund Advisors Canada ULC (since June 2003), Dimensional SmartNest (US) LLC, Dimensional Cayman Commodity Fund I Ltd., Dimensional Japan Ltd. (since February 2012), Dimensional Advisors Ltd. (since March 2012), Dimensional Fund Advisors Pte. Ltd. (since June 2012) and Dimensional Hong Kong Limited (since August 2012). Director, Dimensional Funds PLC and Dimensional Funds II PLC (since 2002 and 2006, respectively). Director of Dimensional Japan Ltd., Dimensional Advisors Ltd., Dimensional Fund Advisors Pte. Ltd. and Dimensional Hong Kong Limited (since August 2012 and July 2012). --------------------------------------------------------------------------------------------------------------------------------- Pamela B. Noble Since 2011 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (2008-2010). 1964 --------------------------------------------------------------------------------------------------------------------------------- Selwyn J. Notelovitz Since 2012 Vice President of all DFA Entities. Deputy Chief Compliance Officer Vice President of Dimensional (since December 2012). Formerly Chief Compliance 1961 Officer of Wellington Management Company, LLP (2004-2011). --------------------------------------------------------------------------------------------------------------------------------- Carolyn L. O Since 2010 Vice President of all the DFA Entities and Dimensional Cayman Vice President Commodity Fund I Ltd. Deputy General Counsel, Funds (since 1974 2011). Counsel for Dimensional (2007-2011). 75 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years ----------------------------------------------------------------------------------------------------------------------- Gerard K. O'Reilly Since 2007 Vice President of all the DFA Entities. Vice President 1976 ----------------------------------------------------------------------------------------------------------------------- Daniel C. Ong Since 2009 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since July 2005). 1973 ----------------------------------------------------------------------------------------------------------------------- Kyle K. Ozaki Since 2010 Vice President of all the DFA Entities. Senior Compliance Officer for Vice President Dimensional (since January 2008). Formerly, Compliance Officer 1978 (February 2006-December 2007). ----------------------------------------------------------------------------------------------------------------------- Matthew A. Pawlak Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional Fund Advisors LP (since 2012). Formerly, Senior 1977 Consultant at Hewitt EnnisKnupp (June 2011-December 2011); Senior Investment Analyst and Consultant at Hewitt EnnisKnupp (July 2008-June 2011). ----------------------------------------------------------------------------------------------------------------------- Brian P. Pitre Since 2013 Vice President of all the DFA Entities. Counsel for Dimensional Vice President Fund Advisors LP (since 2009). Formerly, Vice President and 1976 Corporate Counsel at Mellon Capital Management (2006-2008). ----------------------------------------------------------------------------------------------------------------------- David A. Plecha Since 1993 Vice President of all the DFA Entities, DFA Australia Limited, Vice President Dimensional Fund Advisors Ltd. and Dimensional Fund Advisors 1961 Canada ULC. ----------------------------------------------------------------------------------------------------------------------- Allen Pu Since 2011 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since July 2006). 1970 ----------------------------------------------------------------------------------------------------------------------- Theodore W. Randall Since 2008 Vice President of all the DFA Entities. Formerly, Research Vice President Associate of Dimensional (2006-2008). 1973 ----------------------------------------------------------------------------------------------------------------------- Mark A. Regier Since 2013 Vice President of all the DFA Entities. Planning and Analysis Vice President Manager for Dimensional (since July 2007). 1969 ----------------------------------------------------------------------------------------------------------------------- Savina B. Rizova Since 2012 Vice President of all the DFA Entities. Formerly, Research Vice President Associate for Dimensional (June 2011-January 2012); Research 1981 Assistant for Dimensional (July 2004-August 2007). ----------------------------------------------------------------------------------------------------------------------- L. Jacobo Rodriguez Since 2005 Vice President of all the DFA Entities. Vice President 1971 ----------------------------------------------------------------------------------------------------------------------- Julie A. Saft Since 2010 Vice President of all the DFA Entities. Client Systems Manager for Vice President Dimensional (since July 2008). 1959 ----------------------------------------------------------------------------------------------------------------------- Walid A. Shinnawi Since 2010 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (March 2006-January 2010). 1961 ----------------------------------------------------------------------------------------------------------------------- Bruce A. Simmons Since 2009 Vice President of all the DFA Entities. Investment Operations Vice President Manager for Dimensional (since May 2007). 1965 ----------------------------------------------------------------------------------------------------------------------- Ted R. Simpson Since 2007 Vice President of all the DFA Entities. Vice President 1968 ----------------------------------------------------------------------------------------------------------------------- Bryce D. Skaff Since 2007 Vice President of all the DFA Entities. Vice President 1975 ----------------------------------------------------------------------------------------------------------------------- Andrew D. Smith Since 2011 Vice President of all the DFA Entities. Project Manager for Vice President Dimensional (2007-2010). 1968 ----------------------------------------------------------------------------------------------------------------------- Grady M. Smith Since 2004 Vice President of all the DFA Entities and Dimensional Fund Vice President Advisors Canada ULC. 1956 ----------------------------------------------------------------------------------------------------------------------- Carl G. Snyder Since 2000 Vice President of all the DFA Entities. Vice President 1963 76 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years --------------------------------------------------------------------------------------------------------------------- Lawrence R. Spieth Since 2004 Vice President of all the DFA Entities. Vice President 1947 --------------------------------------------------------------------------------------------------------------------- Bradley G. Steiman Since 2004 Vice President of all the DFA Entities and Director and Vice Vice President President of Dimensional Fund Advisors Canada ULC. 1973 --------------------------------------------------------------------------------------------------------------------- Richard H. Tatlow Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since April 2010). Formerly, Principal, Investment 1971 Strategist at Barclays Global Investors (2004-2009). --------------------------------------------------------------------------------------------------------------------- Blake T. Tatsuta Since 2013 Vice President of all the DFA Entities, Manager, Investment Vice President Analytics and Data for Dimensional (since 2012). Formerly, 1973 Research Assistant at Dimensional (2002-2011). --------------------------------------------------------------------------------------------------------------------- Erik T. Totten Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since 2010). Formerly, Senior Associate at 1980 Dimensional (2007-2009). --------------------------------------------------------------------------------------------------------------------- John H. Totten Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (January 2008-January 2012). 1978 --------------------------------------------------------------------------------------------------------------------- Robert C. Trotter Since 2009 Vice President of all the DFA Entities. Senior Manager, Technology Vice President for Dimensional (since March 2007). 1958 --------------------------------------------------------------------------------------------------------------------- Karen E. Umland Since 1997 Vice President of all the DFA Entities, DFA Australia Limited, Vice President Dimensional Fund Advisors Ltd., and Dimensional Fund Advisors 1966 Canada ULC. --------------------------------------------------------------------------------------------------------------------- Brian J. Walsh Since 2009 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since 2004). 1970 --------------------------------------------------------------------------------------------------------------------- Weston J. Wellington Since 1997 Vice President of all the DFA Entities. Vice President 1951 --------------------------------------------------------------------------------------------------------------------- Ryan J. Wiley Since 2007 Vice President of all the DFA Entities. Vice President 1976 --------------------------------------------------------------------------------------------------------------------- Paul E. Wise Since 2005 Vice President of all the DFA Entities. Vice President 1955 --------------------------------------------------------------------------------------------------------------------- Joseph L. Young Since 2011 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (2005-2010). 1978 /1/ Each officer holds office for an indefinite term at the pleasure of the Boards of Trustees/Directors and until his or her successor is elected and qualified. 77 VOTING PROXIES ON FUND PORTFOLIO SECURITIES A description of the policies and procedures that the Fund uses in voting proxies relating to securities held in the portfolio is available without charge, upon request, by calling collect: (512) 306-7400. Information regarding how the Advisor votes these proxies is available from the EDGAR database on the SEC's website at http://www.sec.gov and from the Advisor's website at http://www.dimensional.com and reflects the twelve-month period beginning July 1st and ending June 30th. 78 NOTICE TO SHAREHOLDERS (Unaudited) For shareholders that do not have an October 31, 2013 tax year end, this notice is for informational purposes only. For shareholders with an October 31, 2013 tax year end, please consult your tax advisor as to the pertinence of this notice. For the fiscal year November 1, 2012 to October 31, 2013, each Portfolio is designating the following items with regard to distributions paid during the fiscal year. All designations are based on financial information available as of the date of this annual report and, accordingly are subject to change. For each item, it is the intention of the Portfolio to designate the maximum amount permitted under the Internal Revenue Code and the regulations thereunder. Qualifying Net For Corporate Investment Short-Term Long-Term Dividends Qualifying U.S. Income Capital Gain Capital Gain Total Received Dividend Government Dimensional Investment Group Inc. Distributions Distributions Distributions Distributions Deduction (1) Income (2) Interest (3) --------------------------------- ------------- ------------- ------------- ------------- ------------- ---------- ------------ LWAS/DFA U.S. High Book to Market Portfolio.............. 80% -- 20% 100% 100% 100% -- LWAS/DFA Two-Year Fixed Income Portfolio.............. 40% 53% 7% 100% -- -- 14% LWAS/DFA Two-Year Government Portfolio.......... 11% 87% 3% 100% -- -- 37% DFA Investment Dimensions Group Inc. ------------------------------- LWAS/DFA International High Book to Market Portfolio...... 33% -- 66% 100% 100% 100% -- Qualifying Short- Foreign Foreign Qualifying Term Tax Source Interest Capital Dimensional Investment Group Inc. Credit (4) Income (5) Income (6) Gain (7) --------------------------------- ---------- ---------- ---------- ---------- LWAS/DFA U.S. High Book to Market Portfolio.............. -- -- 100% 100% LWAS/DFA Two-Year Fixed Income Portfolio.............. -- -- 100% 100% LWAS/DFA Two-Year Government Portfolio.......... -- -- 100% 100% DFA Investment Dimensions Group Inc. ------------------------------- LWAS/DFA International High Book to Market Portfolio...... 8% 100% 100% 100% ---------- (1)Qualifying dividends represent dividends which qualify for the corporate dividends received deduction and is reflected as a percentage of ordinary income distributions (the total of short-term capital gain and net investment income distributions). (2)The percentage in this column represents the amount of "Qualifying Dividend Income" as created by the Jobs and Growth Tax Relief Reconciliation Act of 2003 and is reflected as a percentage of ordinary income distributions (the total of short-term capital gain and net investment income distributions). Please note that these percentages are designated only, refer to your 1099 for actual qualified dividend income. (3)"U.S. Government Interest" represents the amount of interest that was derived from direct U.S. Government obligations and distributed during the fiscal year. This amount is reflected as a percentage of total ordinary income distributions (the total of short-term capital gain and net investment income distributions). Generally, interest from direct U.S. Government obligations is exempt from state income tax. However, for residents of California, Connecticut and New York, the statutory threshold requirements were not satisfied for LWAS/DFA Two-Year Fixed Income Portfolio to permit exemption of these amounts from state income for this fund. (4)"Foreign Tax Credit" represents dividends which qualify for the foreign tax credit pass through and is reflected as a percentage of investment company taxable income. (5)"Foreign Source Income" represents the portion of dividends derived from foreign sources, and is reflected as a percentage of investment company taxable income. (6)The percentage in this column represents the amount of "Qualifying Interest Income" as created by The American Jobs Creation Act of 2004. The information is reflected as a percentage of ordinary income distributions (the total of short-term capital gain and net investment income distributions). (7)The percentage in this column represents the amount of "Qualifying Short-Term Capital Gain" as created by The American Jobs Creation Act of 2004. The information is reflected as a percentage of ordinary income distributions (the total of short-term capital gain and net investment income distributions). 79 [LOGO] DFA103113-003A [LOGO] ANNUAL REPORT year ended: October 31, 2013 DFA Investment Dimensions Group Inc. Dimensional Retirement Equity Fund II Dimensional Retirement Fixed Income Fund II Dimensional Retirement Fixed Income Fund III [LOGO] Dimensional Fund Advisors 6300 Bee Cave Road, Building One Austin, TX 78746 November 2013 Dear Fellow Shareholder, Our goal at Dimensional is to deliver an outstanding investment experience to our clients. Our close ties to academia help us identify leading research that can be beneficial to investors, and our team works to interpret, rigorously test, and consider the practical applicability of those ideas in carefully implemented investment strategies. This focus on research and implementation has been central to Dimensional's approach since our founding and will continue to be a key part of our offer to investors. Sincerely, /s/ David G. Booth Chairman and Co-Chief Executive Officer DFA INVESTMENT DIMENSIONS GROUP INC. ANNUAL REPORT Table of Contents Page ---- Letter to Shareholders Definitions of Abbreviations and Footnotes................. 1 Performance Charts...................................... 2 Management's Discussion and Analysis.................... 4 Disclosure of Fund Expenses............................. 8 Disclosure of Portfolio Holdings........................ 10 Schedules of Investments Dimensional Retirement Equity Fund II............... 11 Dimensional Retirement Fixed Income Fund II......... 12 Dimensional Retirement Fixed Income Fund III........ 13 Statements of Assets and Liabilities.................... 14 Statements of Operations................................ 15 Statements of Changes in Net Assets..................... 16 Financial Highlights.................................... 17 Notes to Financial Statements........................... 18 Report of Independent Registered Public Accounting Firm. 25 Fund Management............................................ 26 Voting Proxies on Fund Portfolio Securities................ 35 Notice to Shareholders..................................... 36 This report is submitted for the information of the Fund's shareholders. It is not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus. i DFA INVESTMENT DIMENSIONS GROUP INC. DEFINITIONS OF ABBREVIATIONS AND FOOTNOTES Schedules of Investments ------------------------ Investment Footnotes + See Note B to Financial Statements. ^^ Face Amount of security is not adjusted for inflation. Financial Highlights -------------------- (A) Computed using average shares outstanding. (B) Represents the combined ratios for the respective portfolio and its respective pro-rata share of its Master Funds. (C) Annualized. (D) Non-Annualized. (E) Because of commencement of operations and related preliminary transaction costs, these ratios are not necessarily indicative of future ratios. All Statements, Schedules and Notes to Financial Statements ----------------------------------------------------------- -- Amounts designated as -- are either zero or rounded to zero. SEC Securities and Exchange Commission (a) Commencement of Operations. 1 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- DIMENSIONAL RETIREMENT EQUITY FUND II VS. MSCI ALL COUNTRY WORLD INDEX (NET DIVIDENDS) March 7, 2012-October 31, 2013 [CHART] Growth of $10,000 Dimensional Retirement MSCI All Country World Index Equity Fund II (net dividends) --------------------------- ----------------------------- 03/2012 $10,000 $10,000 03/2012 10,170 10,286 04/2012 10,050 10,169 05/2012 9,400 9,257 06/2012 9,822 9,714 07/2012 9,913 9,847 08/2012 10,175 10,061 09/2012 10,465 10,378 10/2012 10,354 10,309 11/2012 10,425 10,441 12/2012 10,644 10,677 01/2013 11,175 11,169 02/2013 11,266 11,167 03/2013 11,598 13,372 04/2013 11,843 11,697 05/2013 11,986 11,664 06/2013 11,754 11,324 07/2013 12,382 11,866 Past performance is not predictive of 08/2013 12,053 11,618 future performance. 09/2013 12,609 12,219 10/2013 13,125 12,710 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the Average Annual One From redemption of fund shares. Total Return Year 3/7/2012 -------------------------------------------------- MSCI data copyright MSCI 2013, all 26.77% 17.90% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- DIMENSIONAL RETIREMENT FIXED INCOME FUND II VS. BARCLAYS U.S. TREASURY INFLATION PROTECTED SECURITIES (TIPS) INDEX (SERIES-L) May 16, 2012-October 31, 2013 [CHART] Growth of $10,000 Barclays U.S. Treasury Inflation Dimensional Retirement Protected Securities (TIPS) Fixed Income Fund II Index (Series-L) ------------------------ --------------------------------- 05/2012 $10,000 $10,000 05/2012 10,070 10,117 06/2012 10,015 10,061 07/2012 10,166 10,252 08/2012 10,146 10,222 09/2012 10,217 10,274 10/2012 10,287 10,363 11/2012 10,328 10,413 12/2012 10,262 10,345 01/2013 10,190 10,275 02/2013 10,201 10,278 03/2013 10,221 10,307 04/2013 10,303 10,389 05/2013 9,864 9,936 06/2013 9,864 9,936 07/2013 9,449 9,580 Past performance is not predictive of 08/2013 9,357 9,510 future performance. 09/2013 9,553 9,648 10/2013 9,574 9,701 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the Average Annual One From redemption of fund shares. Total Return Year 5/16/2012 --------------------------------------------------- Barclays data provided by Barclays -6.94% -2.94% Bank PLC. -------------------------------------------------------------------------------- 2 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- DIMENSIONAL RETIREMENT FIXED INCOME FUND III VS. CITIGROUP U.S. INFLATION-LINKED SECURITIES INDEX, 20+ YEARS March 7, 2012-October 31, 2013 [CHART] Growth of $10,000 Dimensional Retirement Citi US Inflation-Linked Fixed Income Fund III Securities Index, 20+ Years --------------------------- ----------------------------- 03/2012 $10,000 $10,000 03/2012 9,770 9,821 04/2012 10,310 10,266 05/2012 10,890 10,921 06/2012 10,751 10,847 07/2012 11,403 11,424 08/2012 11,152 11,175 09/2012 11,092 11,148 10/2012 11,423 11,432 11/2012 11,464 11,528 12/2012 11,239 11,314 01/2013 10,847 10,952 02/2013 10,817 10,947 03/2013 10,666 10,809 04/2013 11,159 11,318 05/2013 9,842 10,024 06/2013 9,044 9,391 07/2013 9,014 9,290 Past performance is not predictive of 08/2013 8,659 9,022 future performance. 09/2013 8,881 9,195 10/2013 8,963 9,258 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the Average Annual One From redemption of fund shares. Total Return Year 3/7/2012 --------------------------------------------------- Citigroup bond indices copyright 2013 -21.54% -6.41% by Citigroup. -------------------------------------------------------------------------------- 3 DFA INVESTMENT DIMENSIONS GROUP INC. MANAGEMENT'S DISCUSSION AND ANALYSIS U.S. Equity Market Review 12 Months Ended October 31, 2013 The one-year period ended October 31, 2013, was characterized by strong gains in U.S. equities. The broad U.S. equity market, as measured by the Russell 3000(R) Index, had positive returns in 10 of the 12 months. The size premium was positive during the period with small cap stocks outperforming large cap stocks as measured by the Russell indices. Micro cap stocks were the strongest performers. Total Return for 12 Months Ended October 31, 2013 ------------------------------------------------- Russell 3000(R) Index........................ 28.99% Russell Microcap(R) Index (micro cap stocks). 38.72% Russell 2000(R) Index (small cap stocks)..... 36.28% Russell 1000(R) Index (large cap stocks)..... 28.40% Dow Jones U.S. Select REIT Index /SM/........ 9.96% The value premium was negative in small cap stocks while the performance of large cap value and large cap growth was almost identical as measured by the Russell indices. Total Return for 12 Months Ended October 31, 2013 ------------------------------------------------- Russell 2000(R) Value Index (small cap value stocks)... 32.83% Russell 2000(R) Growth Index (small cap growth stocks). 39.84% Russell 1000(R) Value Index (large cap value stocks)... 28.29% Russell 1000(R) Growth Index (large cap growth stocks). 28.30% ---------- Source: Russell data copyright (C) Russell Investment Group 1995-2013, all rights reserved. Dimensional Fund Advisors LP ("Dimensional" or the "Advisor") believes that among the most important factors explaining differences in the behavior of diversified equity portfolios are the market capitalization and value/ growth characteristics of the portfolios' holdings. Value characteristics are a function of stock price relative to one or more fundamental characteristics such as book value, earnings, or dividends. For many Dimensional U.S. equity portfolios, differences in returns over the 12 months ended October 31, 2013, were primarily attributable to differences in value/growth and size characteristics as well as the exclusion of REIT securities from most Dimensional portfolios and the exclusion of securities of highly regulated utilities from most value strategies. For many portfolios, the construction approach used by Dimensional generally resulted in portfolios with greater weight in value, small cap and/or micro cap companies relative to widely used benchmarks. International Equity Market Review 12 Months Ended October 31, 2013 The one-year period ended October 31, 2013, was characterized by generally positive monthly returns in the international equity markets with the exception of a sharp decline from May to June and a smaller decline in August. As measured by the MSCI indices below for developed markets outside the U.S., small cap stocks generally outperformed large cap stocks while value stocks outperformed growth stocks. 12 Months Ended October 31, 2013 -------------------------------- U.S. Dollar Return - ------------------ MSCI World ex USA Index........... 24.65% MSCI World ex USA Small Cap Index. 27.81% MSCI World ex USA Value Index..... 26.12% MSCI World ex USA Growth Index.... 23.17% 4 During the period, the U.S. dollar (USD) was mixed against developed markets currencies. While the U.S. dollar depreciated against the euro, Swiss franc, and several other European-based developed markets currencies, it appreciated against the sterling, Canadian dollar, Australian dollar and Japanese yen. 12 Months Ended October 31, 2013 -------------------------------- Ten Largest Foreign Developed Markets by Market Cap Local Currency Return U.S. Dollar Return - --------------------- ------------------ United Kingdom.................... 20.70% 20.37% Japan............................. 64.48% 34.00% Canada............................ 10.59% 5.99% France............................ 27.55% 33.82% Australia......................... 26.44% 15.47% Switzerland....................... 27.49% 31.10% Germany........................... 24.72% 30.85% Spain............................. 30.69% 37.11% Sweden............................ 24.39% 27.55% Hong Kong......................... 14.30% 14.25% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2013, all rights reserved. Gains in emerging markets were lower on average than in developed markets although results varied widely among the individual emerging markets countries. For the one-year period ended October 31, 2013, returns in U.S. dollars were 6.53% for the MSCI Emerging Markets Index (net dividends) versus 24.65% for the MSCI World ex USA Index (net dividends). As measured by the MSCI emerging markets indices, small cap stocks outperformed large cap stocks while growth stocks outperformed value stocks. 12 Months Ended October 31, 2013 -------------------------------- U.S. Dollar Return - ------------------ MSCI Emerging Markets Index........... 6.53% MSCI Emerging Markets Small Cap Index. 10.29% MSCI Emerging Markets Value Index..... 3.88% MSCI Emerging Markets Growth Index.... 9.06% During the period, the U.S. dollar (USD) generally appreciated against most emerging markets currencies, except those in eastern Europe, decreasing USD denominated returns in emerging markets. 12 Months Ended October 31, 2013 -------------------------------- Ten Largest Emerging Markets by Market Cap Local Currency Return U.S. Dollar Return ------------------------------------------ --------------------- ------------------ China........................ 9.32% 9.28% South Korea.................. 9.57% 12.65% Brazil....................... 7.85% -1.52% Taiwan....................... 18.76% 18.08% South Africa................. 20.85% 5.07% India........................ 14.98% 0.65% Russia....................... 12.94% 10.89% Mexico....................... 1.41% 2.11% Malaysia..................... 13.25% 9.32% Indonesia.................... 1.33% -13.66% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2013, all rights reserved. Dimensional Retirement Equity Fund II 12 Months Ended October 31, 2013 The Dimensional Retirement Equity Fund II seeks long-term capital appreciation generally by investing in a combination of mutual funds managed by Dimensional Fund Advisors LP ("Dimensional" or the "Advisor"). As of the 5 date of this report, the Fund's investments include the U.S. Core Equity 1 Portfolio, U.S. Large Company Portfolio, International Core Equity Portfolio, Large Cap International Portfolio, Emerging Markets Core Equity Portfolio, and The Emerging Markets Series (collectively, the "Underlying Funds"). The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Underlying Funds held approximately 11,900 equity securities in 44 countries. For the 12 months ended October 31, 2013, total returns were 26.77% for the Fund and 23.29% for the MSCI All Country World Index (net dividends). As a result of the Underlying Funds' diversified investment approach, performance was determined principally by broad structural trends in global equity markets rather than the behavior of a limited group of stocks in a particular industry or country. The Underlying Funds invest in stocks across all size categories while the Index primarily holds large cap and mid-cap stocks. The Fund had greater exposure than the Index to value stocks, as measured by book-to-market ratio, and greater exposure to U.S. stocks. This emphasis on small cap and value, particularly in the U.S., was primarily responsible for the Fund's outperformance relative to the Index as small cap stocks and value stocks generally outperformed during the period. The Fund had less exposure than the Index to emerging markets, which benefited the Fund's relative performance as emerging markets generally underperformed during the period. Fixed Income Market Review 12 Months Ended October 31, 2013 U.S. and developed international fixed income markets generally experienced rising interest rates for the year ended October 31, 2013. Throughout the year the U.S. Federal Reserve and other major central banks maintained historically low target short-term rates. This combination led to steepening yield curves in much of the developed world. On average, investment grade credit did well for the year, outperforming government bonds of similar duration. The one-month Treasury bill yield finished the fiscal year at 0.03%, while the yield on 10-year U.S. Treasury notes increased to 2.56%. October 31, 2013 October 31, 2012 Change ---------------- ---------------- ------ One-Month Treasury Bill (yield)...... 0.03% 0.09% -0.06% Ten-Year U.S. Treasury Notes (yield). 2.56% 1.69% 0.87% ---------- Source: Bloomberg. There is generally an inverse relationship between interest rates and bond prices, such that bond prices fall when interest rates rise. For the fiscal year under review, changes in interest rates and bond prices were more pronounced in some parts of the yield curve than in others. For the 12 months ended October 31, 2013, total returns were 0.10 % for three-month U.S. Treasury bills, -0.74% for five-year U.S. Treasury notes, and -11.69% for 30-year U.S. Treasury bonds (Source: Barclays Treasury Bellwethers). Some of Dimensional Fund Advisors LP's ("Dimensional" or the "Advisor") fixed income strategies are based on a variable-maturity strategy that identifies a maturity range with favorable risk-adjusted expected returns. When the yield curve is flat or inverted, short-term securities are believed to offer the most attractive opportunity on a risk-adjusted basis. When the yield curve is upwardly sloped, maturities are lengthened to achieve higher expected returns associated with longer maturities. During the period under review, the portfolios employing the variable-maturity strategy continued to take term risk, reflecting the upward-sloping eligible yield curves. Some fixed income strategies are based on an approach that varies exposure to credit risk. When credit spreads are narrow, higher-quality securities are believed to offer the more attractive opportunity on a risk-adjusted basis. When credit spreads are wide, additional credit risk is taken to achieve the higher expected returns associated with increased risk. During the period under review, the portfolios employing the variable credit approach continued to take market-like credit risk, reflecting a wide credit spread environment. Dimensional Retirement Fixed Income Fund II The Dimensional Retirement Fixed Income Fund II seeks to provide total return comprised of income and capital appreciation consistent with inflation-protected instruments. The Advisor will generally purchase shares of 6 the DFA Inflation-Protected Securities Portfolio, DFA One-Year Fixed Income Portfolio, and the Dimensional Retirement Fixed Income Fund III (collectively, the "Underlying Funds"). The average maturity of the Fund, based on the market value-weighted average holdings of the Underlying Funds, decreased to 8.42 years on October 31, 2013, from 9.03 years on October 31, 2012. For the 12 months ended October 31, 2013, total returns were -6.94% for the Portfolio and -6.39% for the Barclays U.S. Treasury Inflation Protected Securities (TIPS) Index (Series-L). The Fund's average allocation during the period was approximately 89% in the DFA Inflation-Protected Securities Portfolio, 8% in the DFA One-Year Fixed Income Portfolio, and 3% in the Dimensional Retirement Fixed Income Fund III. The Fund's underperformance was primarily due to structural differences with the Index. The Underlying Fund's much lower allocation to short-term securities, which generally outperformed intermediate and long-term securities during the period of rising real interest rates, contributed to the underperformance of the Fund as compared to the Index. Dimensional Retirement Fixed Income Fund III 12 Months Ended October 31, 2013 The Dimensional Retirement Fixed Income Fund III seeks to provide total return comprised of income and capital appreciation consistent with long-term inflation protection from investing generally in inflation-protected securities issued by the U.S. government and its agencies and instrumentalities with maturities greater than ten years. The average maturity of the Fund decreased to 28.72 years on October 31, 2013, from 29.06 years on October 31, 2012. For the 12 months ended October 31, 2013, total returns were -21.54% for the Fund and -19.02% for the Citigroup U.S. Inflation-Linked Securities Index, 20+ Years. The Fund's duration was approximately three years longer than the Index. The Fund underperformed as the long end of the real rate curve experienced an increase in rates of approximately 100 basis points. 7 DFA INVESTMENT DIMENSIONS GROUP INC. DISCLOSURE OF FUND EXPENSES (Unaudited) The following Expense Tables are shown so that you can understand the impact of fees on your investment. All mutual funds have operating expenses. As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports, among others. Operating expenses, legal and audit services, which are deducted from a fund's gross income, directly reduce the investment return of the fund. A fund's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs, in dollars, of investing in the fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period. The Expense Tables below illustrate your fund's costs in two ways. Actual Fund Return This section helps you to estimate the actual expenses after fee waivers that you paid over the period. The "Ending Account Value" shown is derived from the fund's actual return and "Expenses Paid During Period" reflect the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. To do so, simply divide your account value by $1,000 (for example, a $7,500 account value divided by $1,000 = 7.5), then multiply the result by the number given for your fund under the heading "Expenses Paid During Period." Hypothetical Example for Comparison Purposes This section is intended to help you compare your fund's costs with those of other mutual funds. The hypothetical "Ending Account Value" and "Expenses Paid During Period" are derived from the fund's actual expense ratio and an assumed 5% annual return before expenses. In this case, because the return used is not the fund's actual return, the results do not apply to your investment. The example is useful in making comparisons because the SEC requires all mutual funds to calculate expenses based on a 5% annual return. You can assess your fund's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. Please note that the expenses shown in the tables are meant to highlight and help you compare ongoing costs only and do not reflect any transactional costs, if applicable. The "Annualized Expense Ratio" represents the actual expenses for the six-month period indicated. Six Months Ended October 31, 2013 EXPENSE TABLES Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/13 10/31/13 Ratio* Period* --------- --------- ---------- -------- Dimensional Retirement Equity Fund II** --------------------------------------- Actual Fund Return............................ $1,000.00 $1,108.30 0.40% $2.13 Hypothetical 5% Annual Return................. $1,000.00 $1,023.19 0.40% $2.04 Dimensional Retirement Fixed Income Fund II** --------------------------------------------- Actual Fund Return............................ $1,000.00 $ 929.30 0.40% $1.95 Hypothetical 5% Annual Return................. $1,000.00 $1,023.19 0.40% $2.04 8 DISCLOSURE OF FUND EXPENSES CONTINUED Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/13 10/31/13 Ratio* Period* --------- --------- ---------- -------- Dimensional Retirement Fixed Income Fund III -------------------------------------------- Actual Fund Return........................... $1,000.00 $ 803.20 0.40% $1.82 Hypothetical 5% Annual Return................ $1,000.00 $1,023.19 0.40% $2.04 ---------- * Expenses are equal to the fund's annualized expense ratio for the six-month period, multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period (184), then divided by the number of days in the year (365) to reflect the six-month period. **The Portfolio is a Fund of Funds. The expenses shown reflect the direct expenses of the Fund of Funds and the indirect payment of the Fund of Funds' portion of the expenses of its Master Funds (Affiliated Investment Companies). 9 DFA INVESTMENT DIMENSIONS GROUP INC. DISCLOSURE OF PORTFOLIO HOLDINGS (Unaudited) The SEC requires that all funds file a complete Schedule of Investments with the SEC for their first and third fiscal quarters on Form N-Q. For DFA Investment Dimensions Group Inc., this would be for the fiscal quarters ending January 31 and July 31. The Form N-Q filing must be made within 60 days of the end of the quarter. DFA Investment Dimensions Group Inc. filed its most recent Form N-Q with the SEC on September 27, 2013. It is available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room). PORTFOLIO HOLDINGS The SEC requires that all funds present their categories of portfolio holdings in a table, chart or graph format in their annual and semi-annual shareholder reports, whether or not a Schedule of Investments is utilized. The following table, which presents portfolio holdings as a percent of total investments before short-term investments and collateral for loaned securities, is provided in compliance with such requirement. FUNDS OF FUNDS Affiliated Investment Companies ------------------------------- Dimensional Retirement Equity Fund II....... 100.0% Dimensional Retirement Fixed Income Fund II. 100.0% FIXED INCOME PORTFOLIO Dimensional Retirement Fixed Income Fund III Government................................... 100.0% ----- 100.0% 10 DIMENSIONAL RETIREMENT EQUITY FUND II SCHEDULE OF INVESTMENTS October 31, 2013 Shares Value+ ------ ---------- AFFILIATED INVESTMENT COMPANIES -- (99.4%) Investment in U.S. Large Company Portfolio of Dimensional Investment Group Inc....................... 46,232 $ 641,245 Investment in U.S. Core Equity 1 Portfolio of DFA Investment Dimensions Group Inc.................... 40,597 638,990 Investment in Large Cap International Portfolio of DFA Investment Dimensions Group Inc.................... 11,641 258,425 Investment in International Core Equity Portfolio of DFA Investment Dimensions Group Inc.................... 7,606 95,608 Investment in The Emerging Markets Series of The DFA Investment Trust Company....................... 66,405 Investment in Emerging Markets Core Equity Portfolio of DFA Investment Dimensions Group Inc.................... 1,482 29,775 ---------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANIES (Cost $1,486,445)................................... 1,730,448 ---------- TEMPORARY CASH INVESTMENTS -- (0.6%) State Street Institutional Liquid Reserves, 0.073% (Cost $9,888).......................................... 9,888 9,888 ---------- TOTAL INVESTMENTS -- (100.0%) (Cost $1,496,333)................................... $1,740,336 ========== Summary of the Fund's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): Investments in Securities (Market Value) ------------------------------------- Level 1 Level 2 Level 3 Total ---------- ------- ------- ---------- Affiliated Investment Companies. $1,730,448 -- -- $1,730,448 Temporary Cash Investments...... 9,888 -- -- 9,888 ---------- -- -- ---------- TOTAL........................... $1,740,336 -- -- $1,740,336 ========== == == ========== See accompanying Notes to Financial Statements. 11 DIMENSIONAL RETIREMENT FIXED INCOME FUND II SCHEDULE OF INVESTMENTS October 31, 2013 Shares Value+ ------- ---------- AFFILIATED INVESTMENT COMPANIES -- (99.7%) Investment in DFA Inflation-Protected Securities Portfolio of DFA Investment Dimensions Group Inc......................... 133,707 $1,583,096 Investment in DFA One-Year Fixed Income Portfolio of DFA Investment Dimensions Group Inc......................... 12,087 124,858 Investment in Dimensional Retirement Fixed Income Fund III of DFA Investment Dimensions Group Inc......................... 4,602 40,500 ---------- TOTAL INVESTMENTS IN AFFILIATED INVESTMENT COMPANIES (Cost $1,749,764)........................................ 1,748,454 ---------- TEMPORARY CASH INVESTMENTS -- (0.3%) State Street Institutional Liquid Reserves, 0.073% (Cost $5,389)............................................... 5,389 5,389 ---------- TOTAL INVESTMENTS -- (100.0%) (Cost $1,755,153)........................................ $1,753,843 ========== Summary of the Fund's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): Investments in Securities (Market Value) ------------------------------------- Level 1 Level 2 Level 3 Total ---------- ------- ------- ---------- Affiliated Investment Companies. $1,748,454 -- -- $1,748,454 Temporary Cash Investments...... 5,389 -- -- 5,389 ---------- -- -- ---------- TOTAL........................... $1,753,843 -- -- $1,753,843 ========== == == ========== See accompanying Notes to Financial Statements. 12 DIMENSIONAL RETIREMENT FIXED INCOME FUND III SCHEDULE OF INVESTMENTS October 31, 2013 Face Amount^^ Value+ -------- ---------- (000) U.S. TREASURY OBLIGATIONS -- (100.0%) Treasury Inflation Protected Security 0.750%, 02/15/42.................... $654 $ 563,815 0.625%, 02/15/43.................... 960 793,404 ---------- TOTAL U.S. TREASURY OBLIGATIONS....... 1,357,219 ---------- TOTAL INVESTMENTS -- (100.0%) (Cost $1,625,386).................... $1,357,219 ========== Summary of the Fund's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): Investments in Securities (Market Value) ------------------------------------- Level 1 Level 2 Level 3 Total ------- ---------- ------- ---------- U.S. Treasury Obligations. -- $1,357,219 -- $1,357,219 -- ---------- -- ---------- TOTAL..................... -- $1,357,219 -- $1,357,219 == ========== == ========== See accompanying Notes to Financial Statements. 13 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (Amounts in thousands, except share and per share amounts) Dimensional Dimensional Dimensional Retirement Retirement Retirement Fixed Income Fixed Income Equity Fund II Fund II Fund III -------------- ------------ ------------ ASSETS: Investments in Affiliated Investment Companies at Value............. $ 1,730 $ 1,748 -- Investments at Value................................................ -- -- $ 1,357 Temporary Cash Investments at Value & Cost.......................... 10 5 -- Cash................................................................ -- -- 9 Receivables: Interest.......................................................... -- -- 2 Fund Shares Sold.................................................. 1 -- 3 From Advisor...................................................... 2 -- 2 Prepaid Expenses and Other Assets................................... 4 5 5 ------------ ------------ ------------ Total Assets................................................... 1,747 1,758 1,378 ------------ ------------ ------------ LIABILITIES: Payables: Fund Shares Redeemed.............................................. 1 -- -- Due to Advisor.................................................... -- 5 -- Accrued Expenses and Other Liabilities.............................. 18 15 3 ------------ ------------ ------------ Total Liabilities.............................................. 19 20 3 ------------ ------------ ------------ NET ASSETS.......................................................... $ 1,728 $ 1,738 $ 1,375 ============ ============ ============ SHARES OUTSTANDING, $0.01 PAR VALUE (1)............................. 135,902 186,387 156,229 ============ ============ ============ NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE.............................................................. $ 12.71 $ 9.32 $ 8.80 ============ ============ ============ Investments in Affiliated Investment Companies at Cost.............. $ 1,486 $ 1,750 $ -- ------------ ------------ ------------ Investments at Cost................................................. $ -- $ -- $ 1,625 ============ ============ ============ NET ASSETS CONSIST OF: Paid-In Capital..................................................... $ 1,463 $ 1,761 $ 1,943 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)................................................. -- -- 4 Accumulated Net Realized Gain (Loss)................................ 21 (21) (304) Net Unrealized Appreciation (Depreciation).......................... 244 (2) (268) ------------ ------------ ------------ NET ASSETS.......................................................... $ 1,728 $ 1,738 $ 1,375 ============ ============ ============ (1) NUMBER OF SHARES AUTHORIZED..................................... 100,000,000 100,000,000 100,000,000 ============ ============ ============ See accompanying Notes to Financial Statements. 14 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE YEAR ENDED OCTOBER 31, 2013 (Amounts in thousands) Dimensional Dimensional Dimensional Retirement Retirement Retirement Fixed Income Fixed Income Equity Fund II* Fund II Fund III --------------- ------------ ------------ Investment Income Net Investment Income Allocated from Affiliated Investment Companies: Dividends................................................................ $ 1 -- -- Income Distributions..................................................... 24 $ 6 -- ---- ---- ----- Total Net Investment Income Received from Affiliated Investment Companies............................................................ 25 6 -- ---- ---- ----- Fund Investment Income Interest................................................................. -- -- $ 39 ---- ---- ----- Total Fund Investment Income.......................................... -- -- 39 ---- ---- ----- Fund Expenses Investment Advisory Services Fees........................................ 3 1 6 Accounting & Transfer Agent Fees......................................... 22 21 13 Custodian Fees........................................................... 1 -- -- Filing Fees.............................................................. 12 12 13 Shareholders' Reports.................................................... 3 1 7 Audit Fees............................................................... 5 5 -- Organizational Costs..................................................... 14 22 19 Other.................................................................... 2 -- 2 ---- ---- ----- Total Expenses........................................................ 62 62 60 ---- ---- ----- Fees (Waived), Expenses Reimbursed, and/or Previously Waived Fees Recovered by Advisor (Note C)........................................... (60) (61) (52) ---- ---- ----- Net Expenses............................................................. 2 1 8 ---- ---- ----- Net Investment Income (Loss)............................................. 23 5 31 ---- ---- ----- Realized and Unrealized Gain (Loss) Capital Gain Distributions Received from Affiliated Investment Companies. -- 1 -- Net Realized Gain (Loss) on: Affiliated Investment Companies Shares/Investment Securities Sold...... 21 (22) (304) Change in Unrealized Appreciation (Depreciation) of: Affiliated Investment Companies Shares/Investment Securities........... 228 (2) (305) ---- ---- ----- Net Realized and Unrealized Gain (Loss).................................. 249 (23) (609) ---- ---- ----- Net Increase (Decrease) in Net Assets Resulting from Operations............ $272 $(18) $(578) ==== ==== ===== ---------- * Investment Income and a portion of Realized and Unrealized Gain (Loss) were allocated from one of the Fund's Master Funds (an Affiliated Investment Company). See accompanying Notes to Financial Statements. 15 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (Amounts in thousands) Dimensional Retirement Dimensional Retirement Dimensional Retirement Equity Fund II Fixed Income Fund II Fixed Income Fund III --------------------- --------------------- --------------------- Period Period Period March 7, May 16, March 7, Year 2012 (a) Year 2012 (a) Year 2012 (a) Ended to Ended to Ended to Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2012 2013 2012 2013 2012 -------- -------- -------- -------- -------- -------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss).................. $ 23 $ 2 $ 5 $ $ 31 $ 4 Capital Gain Distributions Received from Affiliated Investment Companies.............. -- -- 1 -- -- -- Net Realized Gain (Loss) on: Affiliated Investment Companies Shares/ Investment Securities Sold................. 21 -- (22) -- (304) -- Change in Unrealized Appreciation (Depreciation) of: Affiliated Investment Companies Shares/ Investment Securities...................... 228 16 (2) -- (305) 37 ------- ---- ------ ---- ------- ---- Net Increase (Decrease) in Net Assets Resulting from Operations................. 272 18 (18) -- (578) 41 ------- ---- ------ ---- ------- ---- Distributions From: Net Investment Income......................... (23) (2) (5) -- (29) (2) Net Short-Term Gains.......................... -- (0) -- -- -- -- ------- ---- ------ ---- ------- ---- Total Distributions........................ (23) (2) (5) -- (29) (2) ------- ---- ------ ---- ------- ---- Capital Share Transactions (1): Shares Issued................................. 2,383 226 2,119 37 3,807 513 Shares Issued in Lieu of Cash Distributions... 23 2 5 -- 29 2 Shares Redeemed............................... (1,118) (53) (369) (31) (2,343) (65) ------- ---- ------ ---- ------- ---- Net Increase (Decrease) from Capital Share Transactions........................ 1,288 175 1,755 6 1,493 450 ------- ---- ------ ---- ------- ---- Total Increase (Decrease) in Net Assets.... 1,537 191 1,732 6 886 489 Net Assets Beginning of Year............................. 191 -- 6 -- 489 -- ------- ---- ------ ---- ------- ---- End of Year................................... $ 1,728 $191 $1,738 $ 6 $ 1,375 $489 ======= ==== ====== ==== ======= ==== (1) Shares Issued and Redeemed: Shares Issued................................. 212 24 223 4 361 49 Shares Issued in Lieu of Cash Distributions... 2 -- 1 -- 3 -- Shares Redeemed............................... (97) (5) (39) (3) (251) (6) ------- ---- ------ ---- ------- ---- Net Increase (Decrease) from Shares Issued and Redeemed....................... 117 19 185 1 113 43 ======= ==== ====== ==== ======= ==== Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)........................................ $ -- $ -- $ -- $ -- $ 4 $ 2 ---------- Seepage 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 16 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (for a share outstanding throughout each period) Dimensional Retirement Equity Fund II ------------------------ Year Period Ended March 7, 2012 (a) Oct. 31, to 2013 Oct. 31, 2012 -------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period....................... $10.24 $10.00 ------ ------ Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)......................... 0.23 0.16 Net Gains (Losses) on Securities (Realized and Unrealized)............................................. 2.47 0.19 ------ ------ Total from Investment Operations........................ 2.70 0.35 -------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income.................................... (0.23) (0.11) Net Realized Gains....................................... -- (0.00) ------ ------ Total Distributions..................................... (0.23) (0.11) -------------------------------------------------------------------------------------------------- Net Asset Value, End of Period............................. $12.71 $10.24 =========================================================== ============ ==================== Total Return............................................... 26.77% 3.54%(D) -------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)...................... $1,728 $ 191 Ratio of Expenses to Average Net Assets.................... 0.40% 0.40%(B)(C)(E) Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees)................................... 5.71% 52.27%(B)(C)(E) Ratio of Net Investment Income to Average Net Assets....... 2.01% 2.40%(C)(E) Portfolio Turnover Rate.................................... N/A N/A -------------------------------------------------------------------------------------------------- Dimensional Retirement Fixed Income Fund II ---------------------------- Year Period Ended May 16, 2012 (a) Oct. 31, to 2013 Oct. 31, 2012 -------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period....................... $10.18 $ 10.00 ------ ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)......................... 0.13 0.23 Net Gains (Losses) on Securities (Realized and Unrealized)............................................. (0.83) 0.06 ------ ------- Total from Investment Operations........................ (0.70) 0.29 -------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income.................................... (0.16) (0.11) Net Realized Gains....................................... -- -- ------ ------- Total Distributions..................................... (0.16) (0.11) -------------------------------------------------------------------------------------------------------- Net Asset Value, End of Period............................. $ 9.32 $ 10.18 =========================================================== ============== ====================== Total Return............................................... (6.94)% 2.87%(D) -------------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)...................... $1,738 $ 6 Ratio of Expenses to Average Net Assets.................... 0.40% 0.40%(B)(C)(E) Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees)................................... 17.48% 447.64%(B)(C)(E) Ratio of Net Investment Income to Average Net Assets....... 1.40% 5.07%(C)(E) Portfolio Turnover Rate.................................... N/A N/A -------------------------------------------------------------------------------------------------------- Dimensional Retirement Fixed Income Fund III ------------------------------------ Year Period Ended March 7, 2012 (a) Oct. 31, to 2013 Oct. 31, 2012 -------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period....................... $ 11.38 $10.00 ------- ------ Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)......................... 0.15 0.12 Net Gains (Losses) on Securities (Realized and Unrealized)............................................. (2.60) 1.30 ------- ------ Total from Investment Operations........................ (2.45) 1.42 -------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income.................................... (0.13) (0.04) Net Realized Gains....................................... -- -- ------- ------ Total Distributions..................................... (0.13) (0.04) -------------------------------------------------------------------------------------------------------- Net Asset Value, End of Period............................. $ 8.80 $11.38 =========================================================== ================ ========================= Total Return............................................... (21.54)% 14.23%(D) -------------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)...................... $ 1,375 $ 489 Ratio of Expenses to Average Net Assets.................... 0.40% 0.40%(C)(E) Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumption of Expenses and/or Recovery of Previously Waived Fees)................................... 2.90% 29.65%(C)(E) Ratio of Net Investment Income to Average Net Assets....... 1.50% 1.68%(C)(E) Portfolio Turnover Rate.................................... 120% 11%(D) -------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 17 DFA INVESTMENT DIMENSIONS GROUP INC. NOTES TO FINANCIAL STATEMENTS A. Organization: DFA Investment Dimensions Group Inc. (the "Fund" or "IDG") is an open-end management investment company registered under the Investment Company Act of 1940, whose shares are generally offered to institutional investors, retirement plans and clients of registered investment advisors. The Fund consists of seventy-six operational portfolios, three of which, Dimensional Retirement Equity Fund II, Dimensional Retirement Fixed Income Fund II and Dimensional Retirement Fixed Income Fund III (each a "Retirement Fund" and collectively, the "Retirement Funds"), are presented in this report. The remaining operational portfolios are presented in separate reports. Dimensional Retirement Equity Fund II and Dimensional Retirement Fixed Income Fund II achieve their investment objectives by primarily investing in other portfolios within IDG, Dimensional Investment Group Inc. ("DIG") and The DFA Investment Trust Company ("ITC") (collectively, the "Master Funds"). The Portfolios also invest in short-term temporary cash investments. Ownership Fund of Funds Master Funds at 10/31/13 ------------- ------------ ----------- Dimensional Retirement Equity Fund II U.S. Core Equity 1 Portfolio (IDG) -- U.S. Large Company Portfolio (DIG) -- Large Cap International Portfolio (IDG) -- International Core Equity Portfolio (IDG) -- Emerging Markets Core Equity Portfolio (IDG) -- The Emerging Markets Series (ITC) -- Dimensional Retirement Fixed Income Fund II DFA Inflation-Protected Securities Portfolio (IDG) -- DFA One-Year Fixed Income Portfolio (IDG) -- Dimensional Retirement Fixed Income Fund III (IDG) 3% Amounts designated as -- are less than 1%. B. Significant Accounting Policies: The following significant accounting policies are in conformity with accounting principles generally accepted in the United States of America. Such policies are consistently followed by the Fund in preparation of its financial statements. The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the fair value of investments, the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates and those differences could be material. 1. Security Valuation: The Retirement Funds utilize a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels described below: . Level 1 - inputs are quoted prices in active markets for identical securities (including equity securities, open-end investment companies, futures contracts) . Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) . Level 3 - significant unobservable inputs (including the Retirement Funds' own assumptions in determining the fair value of investments) 18 Debt securities held by the Retirement Funds are valued on the basis of evaluated prices provided by one or more pricing services or other reasonably reliable sources including broker/dealers that typically handle the purchase and sale of such securities. Securities which are traded over-the-counter and on a stock exchange generally will be valued according to the broadest and most representative market, and it is expected that for bonds and other fixed income securities, this ordinarily will be the over-the-counter market. Securities for which quotations are not readily available (including restricted securities), or for which market quotations have become unreliable, are valued in good faith at fair value in accordance with procedures adopted by the Board of Directors/Trustees (the "Board"). Shares held by the Dimensional Retirement Equity Fund II (except shares of The Emerging Markets Series) and Dimensional Retirement Fixed Income Fund II of the Master Funds, which are treated as regulated investment companies, and the shares held by the Dimensional Retirement Fixed Income Fund III in other investment companies, are valued at their respective daily net asset values as reported by their administrator. Dimensional Retirement Equity Fund II's investment in The Emerging Markets Series, which is taxed as a partnership, reflects its proportionate interest in the net assets of the Series. These securities are generally categorized as Level 1 in the hierarchy. A summary of the inputs used to value the Retirement Funds' investments by each major security type is disclosed previously in this note. Valuation hierarchy tables have been included at the end of the Schedules of Investments. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For the year ended October 31, 2013, there were no significant transfers between Level 1 and Level 2 and no Level 3 investments held by the Retirement Funds. 2. Deferred Compensation Plan: Each eligible Director/Trustee of the Fund may elect participation in The Fee Deferral Plan for Independent Directors and Trustees (the "Plan"). Under the Plan, effective January 1, 2002, such Directors/Trustees may defer payment of all or a portion of their total fees earned as a Director/Trustee. These deferred amounts may be treated as though such amounts had been invested in shares of the following funds: U.S. Large Cap Value Portfolio; U.S. Core Equity 1 Portfolio; U.S. Core Equity 2 Portfolio; U.S. Vector Equity Portfolio; U.S. Micro Cap Portfolio; DFA International Value Portfolio; International Core Equity Portfolio; Emerging Markets Portfolio; Emerging Markets Core Equity Portfolio; and/or DFA Two-Year Global Fixed Income Portfolio. Contributions made under the Plan and the change in unrealized appreciation (depreciation) and income are included in Directors'/Trustees' Fees & Expenses. Each Director/Trustee has the option to receive their distribution of proceeds in one of the following methods: lump sum; annual installments over a period of agreed upon years; or quarterly installments over a period of agreed upon years. Each Director/Trustee shall have the right in a notice of election (the "Notice") to defer the receipt of the Director's/Trustee's deferred compensation until a date specified by such Director/Trustee in the Notice, which date may not be sooner than the earlier of: (i) the first business day of January following the year in which such Director/Trustee ceases to be a member of the Board; and (ii) five years following the effective date of the Director's/Trustee's first deferral election. If a Director/Trustee who elects to defer fees fails to designate in the Notice a time or date as of which payment of the Director's/Trustee's deferred fee account shall commence, payment of such amount shall commence as of the first business day of January following the year in which the Director/Trustee ceases to be a member of the Board (unless the Director/Trustee files an amended Notice selecting a different distribution date). As of October 31, 2013, none of the Directors/Trustees have requested or received a distribution of proceeds of a deferred fee account. 3. Other: Security transactions are accounted for as of the trade date. Costs used in determining realized gains and losses on the sale of investment securities are on the basis of identified cost. Dividend income and distributions to shareholders are recorded on the ex-dividend date. Distributions received on securities that represent a return of capital or capital gains are recorded as a reduction of cost of investments or as a realized gain, respectively. The Retirement Funds estimate the character of distributions received that may be considered return of capital distributions. Interest income is recorded on an accrual basis. Expenses directly attributable to a Retirement Fund are directly charged. Common expenses of the Fund or Retirement Funds are allocated using methods approved by the Board, generally based on average net assets. 19 C. Investment Advisor: The Advisor, Dimensional Fund Advisors LP, provides investment advisory services to the Retirement Funds and the Master Funds. For the year ended October 31, 2013, the investment advisory services fees were accrued daily and paid monthly to the Advisor based on an effective annual rate of 0.30% of each of the Retirement Fund's average daily net assets. Pursuant to an Amended and Restated Fee Waiver and Expense Assumption Agreement (the "Fee Waiver Agreement"), the Advisor has contractually agreed to waive management fees, and in certain instances, assume certain expenses of the Retirement Funds, as described below. The Fee Waiver Agreement for the Retirement Funds will remain in effect through February 28, 2014, and shall continue in effect from year to year thereafter unless terminated by the Fund or the Advisor. With respect to Dimensional Retirement Equity Fund II and Dimensional Retirement Fixed Income Fund II, the Advisor has contractually agreed to waive up to the full amount of each Portfolio's management fee of 0.30% to the extent necessary to offset the proportionate share of the management fees paid by the Portfolios through their investment in the Master Funds (including each Portfolio's proportionate share of any management fees that a Master Fund paid through its investment in an affiliated cash management fund). In addition, under the Fee Waiver Agreement, the Advisor has also agreed to waive all or a portion of the management fee and to assume the expenses of a class of each Portfolio to the extent necessary to reduce the ordinary operating expenses (including expenses incurred through its investment in other investment companies but excluding any applicable 12b-1 fees) ("Portfolio Expenses") of such class of the Portfolio so that the Portfolio Expenses do not exceed 0.40% of the average net assets of such class of the Portfolio on an annualized basis. With respect to Dimensional Retirement Fixed Income Fund III, the Advisor has contractually agreed to waive all or a portion of its management fee and to assume the expenses of each class of the Portfolio to the extent necessary to limit the ordinary operating expenses (not including expenses incurred through an investment in other investment companies and any applicable 12b-1 fees) ("Portfolio Expenses") of a class of the Portfolio so that such Portfolio Expenses do not exceed 0.40% of the average net assets of such class of the Portfolio on an annualized basis. Fees Paid to Officers and Directors/Trustees: Certain Officers and Directors/Trustees of the Advisor are also Officers and Directors/Trustees of the Fund; however, such Officers and Directors/Trustees (with the exception of the Chief Compliance Officer ("CCO")) receive no compensation from the Fund. For the year ended October 31, 2013, the total related amounts paid by the Fund to the CCO were $250 (in thousands). The total related amounts paid by each of the Retirement Funds are included in Other Expenses on the Statement of Operations. D. Deferred Compensation: At October 31, 2013, the total liability for deferred compensation to Directors/Trustees is included in Accrued Expenses and Other Liabilities on the Statement of Assets and Liabilities as follows (amounts in thousands): Dimensional Retirement Equity Fund II........ -- Dimensional Retirement Fixed Income Fund II.. -- Dimensional Retirement Fixed Income Fund III. -- 20 E. Purchases and Sales of Securities: For the year ended October 31, 2013, Dimensional Retirement Equity Fund II and Dimensional Retirement Fixed Income Fund II made the following purchases and sales of Affiliated Investment Companies (amounts in thousands): Dimensional Retirement Equity Fund II --------------------------------------------------------------- Balance at Balance at Dividend Distributions of Affiliated Investment Companies 10/31/2012 10/31/2013 Purchases Sales Income Realized Gains ------------------------------- ---------- ---------- --------- ----- -------- ---------------- U.S. Large Company Portfolio........... $69 $ 641 $ 762 $283 $ 9 -- U.S. Core Equity 1 Portfolio........... 69 639 751 290 7 -- Large Cap International Portfolio...... 29 258 340 142 5 -- International Core Equity Portfolio.... 11 96 122 50 2 -- Emerging Markets Core Equity Portfolio. 4 30 48 23 -- -- Dimensional Retirement Fixed Income Fund II --------------------------------------------------------------- Balance at Balance at Dividend Distributions of Affiliated Investment Companies 10/31/2012 10/31/2013 Purchases Sales Income Realized Gains ------------------------------- ---------- ---------- --------- ----- -------- ---------------- DFA Inflation-Protected Securities Portfolio............................ $ 5 $1,583 $1,856 $255 $ 5 $ 1 DFA One-Year Fixed Income Portfolio.... 1 125 202 77 -- -- Dimensional Retirement Fixed Income Fund III............................. -- 41 66 24 -- -- For the year ended October 31, 2013, Dimensional Retirement Fixed Income Fund III made the following purchases and sales of investment securities, other than short-term securities (amounts in thousands): U.S. Government Other Investment Securities Securities ---------------- --------------- Purchases Sales Purchases Sales --------- ------ --------- ----- Dimensional Retirement Fixed Income Fund III. $3,846 $2,387 -- -- F. Federal Income Taxes: Each Retirement Fund has qualified and intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code for federal income tax purposes and to distribute substantially all of its taxable income and net capital gains to its shareholders. Accordingly, no provision has been made for federal income taxes. Distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from these amounts determined under accounting principles generally accepted in the United States of America. These book/tax differences are either temporary or permanent in nature. To the extent these differences are permanent, they are charged or credited to paid-in capital, undistributed net investment income or accumulated net realized gains or losses, as appropriate, in the period that the differences arise. Accordingly, the following permanent differences as of October 31, 2013, primarily attributable to net foreign currency gains/losses, non-deductible expenses and distribution redesignations, were reclassified to the following accounts. These reclassifications had no effect on net assets or net asset value per share (amounts in thousands): Increase Increase (Decrease) (Decrease) Increase Undistributed Accumulated (Decrease) Net Investment Net Realized Paid-In Capital Income Gains (Losses) --------------- -------------- -------------- Dimensional Retirement Equity Fund II........ -- -- -- Dimensional Retirement Fixed Income Fund II.. -- -- -- Dimensional Retirement Fixed Income Fund III. -- -- -- 21 The tax character of dividends and distributions declared and paid during the years ended October 31, 2012 and October 31, 2013 were as follows (amounts in thousands): Net Investment Income and Short-Term Long-Term Capital Gains Capital Gains Total -------------- ------------- ----- Dimensional Retirement Equity Fund II 2012......................................... $ 2 -- $ 2 2013......................................... 24 -- 24 Dimensional Retirement Fixed Income Fund II 2013......................................... 5 -- 5 Dimensional Retirement Fixed Income Fund III 2012......................................... 2 -- 2 2013......................................... 29 -- 29 Dimensional Retirement Fixed Income Fund II did not pay any distributions for the year ended October 31, 2012. At October 31, 2013, the components of distributable earnings (accumulated losses) were as follows (amounts in thousands): Undistributed Total Net Net Investment Distributable Income and Undistributed Capital Unrealized Earnings Short-Term Long-Term Loss Appreciation (Accumulated Capital Gains Capital Gains Carryforwards (Depreciation) Losses) -------------- ------------- ------------- -------------- ------------- Dimensional Retirement Equity Fund II........................... $10 $13 -- $ 241 $ 264 Dimensional Retirement Fixed Income Fund II........................... -- -- -- (24) (24) Dimensional Retirement Fixed Income Fund III.......................... 4 -- $(304) (268) (568) For federal income tax purposes, the Fund measures its capital loss carryforwards annually at October 31, its fiscal year end. Capital loss carryforwards may be carried forward and applied against future capital gains. Under the Regulated Investment Company Modernization Act of 2010, capital losses incurred by these Retirement Funds after October 31, 2011 will not be subject to expiration and will retain their character as the following either short-term or long-term capital losses. As of October 31, 2013, Dimensional Retirement Fixed Income Fund III had capital loss carryforwards available to offset future realized capital gains (amounts in thousands): Expires on October 31, ---------------------- Unlimited Total ---------------------- ----- Dimensional Retirement Fixed Income Fund III. $304 $304 During the year ended October 31, 2013, the Retirement Funds did not utilize capital loss carryforwards. At October 31, 2013, the total cost and aggregate gross unrealized appreciation and (depreciation) of securities for federal income tax purposes were different from amounts reported for financial reporting purposes (amounts in thousands): Net Unrealized Federal Unrealized Unrealized Appreciation Tax Cost Appreciation Depreciation (Depreciation) -------- ------------ ------------ -------------- Dimensional Retirement Equity Fund II........ $1,499 $241 -- $ 241 Dimensional Retirement Fixed Income Fund II.. 1,778 1 $ (25) (24) Dimensional Retirement Fixed Income Fund III. 1,625 -- (268) (268) 22 The difference between book basis and tax-basis unrealized appreciation (depreciation) is primarily attributable to the tax deferral of losses on wash sales. Accounting for Uncertainty in Income Taxes sets forth a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken on a tax return. Management has analyzed the Retirement Funds' tax positions and has concluded that no additional provision for income tax is required in any Retirement Fund's financial statements. The Retirement Funds are not aware of any tax positions for which it is more likely than not that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. The Retirement Funds' federal tax returns for the prior two fiscal years remain subject to examination by the Internal Revenue Service. G. Line of Credit: The Fund, together with other Dimensional-advised portfolios, entered into a $250 million unsecured discretionary line of credit effective June 22, 2011 with The Bank of New York Mellon, which was terminated by The Bank of New York Mellon effective March 29, 2013. Prior to termination, each portfolio was permitted to borrow, subject to its investment limitations, up to a maximum of $250 million, as long as total borrowings under the line of credit did not exceed $250 million in the aggregate. Borrowings under the line of credit were charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio was individually, and not jointly, liable for its particular advances under the line of credit. There was no commitment fee on the unused portion of the line of credit. The Fund, together with other Dimensional-advised portfolios, has entered into a $500 million unsecured discretionary line of credit effective March 4, 2013 with its domestic custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. There is no commitment fee on the unused portion of the line of credit. The agreement for the discretionary line of credit may be terminated by either party at any time. The line of credit is scheduled to expire on March 3, 2014. The Fund, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit effective January 11, 2013 with its international custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. There is no commitment fee on the unused portion of the line of credit. The agreement for the line of credit expires on January 10, 2014. For the year ended October 31, 2013, borrowings by the Retirement Funds under the lines of credit were as follows (amounts in thousands, except percentages and days): Weighted Weighted Number of Interest Maximum Amount Average Average Loan Days Expense Borrowed During Interest Rate Balance Outstanding* Incurred The Period ------------- ------------ ------------ -------- --------------- Dimensional Retirement Equity Fund II. 0.87% $27 19 -- $153 Dimensional Retirement Fixed Income Fund II............................. 0.88% 39 9 -- 113 Dimensional Retirement Fixed Income Fund III............................ 0.86% 3 3 -- 10 * Number of Days Outstanding represents the total of single or consecutive days during the year ended October 31, 2013, that each Retirement Fund's available line of credit was utilized. There were no outstanding borrowings by Retirement Funds under the lines of credit as of October 31, 2013. 23 H. Indemnitees; Contractual Obligations: Under the Fund's organizational documents, its officers and directors are indemnified against certain liabilities arising out of the performance of their duties to the Fund. In the normal course of business, the Fund enters into contracts that contain a variety of representations and warranties which provide general indemnification. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund and/or its affiliates that have not yet occurred. However, based on experience, the Fund expects the risk of loss to be remote. I. Recently Issued Accounting Standards: In January 2013, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") No. 2013-01 "Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities" ("ASU 2013-01") which amended Accounting Standards Codification Subtopic 210-20, Balance Sheet Offsetting. ASU 2013-01 clarified the scope of ASU No. 2011-11 "Disclosures about Offsetting Assets and Liabilities" ("ASU 2011-11"). ASU 2011-11 requires an entity to disclose information about offsetting and related arrangements to enable users of that entity's financial statements to understand the effect of those arrangements on its financial position. ASU 2013-01 clarifies the scope of ASU 2011-11 as applying to derivatives accounted for in accordance with Topic 815, Derivatives and Hedging, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are offset either in accordance with other requirements of GAAP or subject to an enforceable master netting arrangement or similar agreement. ASU No. 2011-11 is effective for annual periods beginning on or after January 1, 2013, and interim periods within those annual periods. Management is evaluating any impact ASU No. 2011-11 may have on the financial statements. J. Other: At October 31, 2013, the following number of shareholders held the following approximate percentages of the stated fund outstanding shares. One or more of the shareholders may be omnibus accounts, which typically hold shares for the benefit of several other underlying investors. Approximate Percentage Number of of Outstanding Shareholders Shares - ------------ -------------- Dimensional Retirement Equity Fund II........ 3 100% Dimensional Retirement Fixed Income Fund II.. 2 98% Dimensional Retirement Fixed Income Fund III. 3 96% K. Subsequent Event Evaluations: Management has evaluated the impact of all subsequent events on the Retirement Funds and has determined that there are no subsequent events requiring recognition or disclosure in the financial statements. 24 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Shareholders of the Portfolios, as defined, and Board of Directors of DFA Investment Dimensions Group Inc.: In our opinion, the accompanying statements of assets and liabilities, including the schedules of investments, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of Dimensional Retirement Equity Fund II, Dimensional Retirement Fixed Income Fund II, and Dimensional Retirement Fixed Income Fund III (constituting portfolios within DFA Investment Dimensions Group Inc., hereafter referred to as the "Portfolios") at October 31, 2013, and the results of each of their operations for the year then ended, the changes in each of their net assets and the financial highlights for each of the periods indicated, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as "financial statements") are the responsibility of the Portfolios' 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, 2013 by correspondence with the custodian and the transfer agent of the investee funds, provide a reasonable basis for our opinion. PricewaterhouseCoopers LLP Philadelphia, Pennsylvania December 20, 2013 25 FUND MANAGEMENT (Unaudited) Trustees/Directors Each Board of Trustees/Directors (each, the "Board" and collectively, the "Boards") of The DFA Investment Trust Company ("DFAITC"), DFA Investment Dimensions Group Inc. ("DFAIDG"), Dimensional Investment Group Inc. ("DIG") and Dimensional Emerging Markets Value Fund ("DEM") (each, the "Fund" and collectively, the "Funds") is responsible for establishing the Funds' policies and for overseeing the management of the Funds. The Trustees/Directors of the Funds, including all of the disinterested Trustees/Directors, have adopted written procedures to monitor potential conflicts of interest that might develop between portfolios of the Funds (the "Feeder Portfolios") that invest in certain series of DFAITC or DEM (the "Master Funds"). Each Board has three standing committees, an Audit Committee, a Nominating Committee, and an Investment Review Committee (the "Review Committee"). The Audit Committee is comprised of George M. Constantinides, Roger G. Ibbotson and Abbie J. Smith. Each member of the Audit Committee is a disinterested Trustee/Director. The Audit Committee oversees the Fund's accounting and financial reporting policies and practices, the Fund's internal controls, the Fund's financial statements and the independent audits thereof and performs other oversight functions as requested by the Board. The Audit Committee recommends the appointment of each Fund's independent registered certified public accounting firm and also acts as a liaison between the Fund's independent registered certified public accounting firm and the full Board. There were two Audit Committee meetings held during the fiscal year ended October 31, 2013. Each Board's Nominating Committee is comprised of George M. Constantinides, John P. Gould, Roger G. Ibbotson, Myron S. Scholes, Edward P. Lazear and Abbie J. Smith. Each member of the Nominating Committee is a disinterested Trustee/Director. The Nominating Committee for each Board makes recommendations for nominations of disinterested and interested members on the Board to the full Board. The Nominating Committee evaluates a candidate's qualification for Board membership and the independence of such candidate from the Advisor and other principal service providers. There was one Nominating Committee meeting held during the fiscal year ended October 31, 2013. Each Board's Review Committee consists of both interested and disinterested Trustees/Directors. The Review Committee is comprised of John P. Gould, Edward P. Lazear, Myron S. Scholes and Eduardo A. Repetto. The Review Committee assists the Board in carrying out its fiduciary duties with respect to the oversight of the Fund and its performance. At the request of the Board or the Advisor, the Review Committee may (i) review the design of possible new series of the Fund, (ii) review performance of existing portfolios of the Fund and discuss and recommend possible enhancements to the portfolios' investment strategies, (iii) review proposals by the Advisor to modify or enhance the investment strategies or policies of each portfolio, and (iv) consider issues relating to investment services for each portfolio of the Fund. The Review Committee was formed on December 17, 2010, and there were two Review Committee meetings held during the fiscal year ended October 31, 2013. Certain biographical information for each disinterested Trustee/Director and each interested Trustee/Director of the Funds is set forth in the tables below, including a description of each Trustee/Director's experience as a Trustee/ Director of the Funds and as a director or trustee of other funds, as well as other recent professional experience. The statements of additional information (together, "SAI") of the Funds include additional information about each Trustee/Director. You may obtain copies of the SAI and prospectus of each Fund advised by Dimensional Fund Advisors LP by calling collect (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746. Prospectuses are also available at www.dimensional.com. 26 Name, Position Portfolios within the Principal Occupation(s) During Past 5 Years with the Fund, Term of Office/1/ and DFA Fund Complex/2/ and Other Directorships of Public Companies Address and Year of Birth Length of Service Overseen Held ----------------------------------------------------------------------------------------------------------------------------- Disinterested Trustees/Directors ----------------------------------------------------------------------------------------------------------------------------- George M. Constantinides Since Inception 106 portfolios in 4 Leo Melamed Professor of Finance, The Director of DFAIDG and DIG. investment companies University of Chicago Booth School of Business. Trustee of DFAITC and DEM. The University of Chicago Booth School of Business 5807 S. Woodlawn Avenue Chicago, IL 60637 1947 ----------------------------------------------------------------------------------------------------------------------------- John P. Gould Since Inception 106 portfolios in 4 Steven G. Rothmeier Distinguished Service Director of DFAIDG and DIG. investment companies Professor of Economics, The University of Trustee of DFAITC and DEM. Chicago Booth School of Business (since 1965). The University of Chicago Member and Chair, Competitive Markets Booth School of Business Advisory Committee, Chicago Mercantile 5807 S. Woodlawn Avenue Exchange (futures trading exchange) (since Chicago, IL 60637 2004). Formerly, Director of UNext, Inc. 1939 (1999-2006). Trustee, Harbor Fund (registered investment company) (30 Portfolios) (since 1994). Formerly, Member of the Board of Milwaukee Mutual Insurance Company (1997-2010). ----------------------------------------------------------------------------------------------------------------------------- Roger G. Ibbotson Since Inception 106 portfolios in 4 Professor in Practice of Finance, Yale School of Director of DFAIDG and DIG. investment companies Management (since 1984). Chairman, CIO and Trustee of DFAITC and DEM. Partner, Zebra Capital Management, LLC (hedge Yale School of Management fund manager) (since 2001). Consultant to P.O. Box 208200 Morningstar, Inc. (since 2006). Formerly, New Haven, CT Chairman, Ibbotson Associates, Inc., Chicago, IL 06520-8200 (software data publishing and consulting) 1943 (1977-2006). Formerly, Director, BIRR Portfolio Analysis, Inc. (software products) (1990-2010). ----------------------------------------------------------------------------------------------------------------------------- Edward P. Lazear Since Inception 106 portfolios in 4 Morris Arnold Cox Senior Fellow, Hoover Director of DFAIDG and DIG. investment companies Institution (since 2002). Jack Steele Parker Trustee of DFAITC and DEM. Professor of Human Resources Management Stanford University Graduate and Economics, Graduate School of Business, School of Business Stanford University (since 1995). Cornerstone 518 Memorial Way Stanford, Research (expert testimony and economic and CA 94305-5015 financial analysis) (since 2009). Formerly, 1948 Chairman of the President George W. Bush's Council of Economic Advisers (2006-2009). Formerly, Council of Economic Advisors, State of California (2005-2006). Formerly, Commissioner, White House Panel on Tax Reform (2005). ----------------------------------------------------------------------------------------------------------------------------- Myron S. Scholes Since Inception 106 portfolios in 4 Frank E. Buck Professor Emeritus of Finance, Director of DFAIDG and DIG. investment companies Stanford University (since 1981). Formerly, Trustee of DFAITC and DEM. Chairman, Platinum Grove Asset Management, c/o Dimensional Fund L.P. (hedge fund) (formerly, Oak Hill Platinum Advisors, LP Partners) (1999-2009). Formerly, Managing 6300 Bee Cave Road Partner, Oak Hill Capital Management (private Building 1 equity firm) (until 2004). Director, American Austin, TX 78746 Century Fund Complex (registered investment 1941 companies) (40 Portfolios) (since 1980). Formerly, Director, Chicago Mercantile Exchange (2001-2008). ----------------------------------------------------------------------------------------------------------------------------- Abbie J. Smith Since Inception 106 portfolios in 4 Boris and Irene Stern Distinguished Service Director of DFAIDG and DIG. investment companies Professor of Accounting, The University of Trustee of DFAITC and DEM. Chicago Booth School of Business (since 1980). The University of Chicago Co-Director Investment Research, Fundamental Booth School of Business Investment Advisors (hedge fund) (since 2008). 5807 S. Woodlawn Avenue Director, HNI Corporation (formerly known as Chicago, IL 60637 HON Industries Inc.) (office furniture) (since 1953 2000). Director, Ryder System Inc. (transportation, logistics and supply-chain management) (since 2003). Trustee, UBS Funds (4 investment companies within the fund complex) (52 portfolios) (since 2009). 27 Name, Position Portfolios within the with the Fund, Term of Office/1/ and DFA Fund Complex/2/ Principal Occupation(s) During Past 5 Years and Address and Year of Birth Length of Service Overseen Other Directorships of Public Companies Held ------------------------------------------------------------------------------------------------------------------------------- Interested Trustees/Directors* ------------------------------------------------------------------------------------------------------------------------------- David G. Booth Since Inception 106 portfolios in 4 Chairman, Director/Trustee, President, and Co-Chief Chairman, Director, investment companies Executive Officer (since January 2010) of Co-Chief Executive Dimensional Holdings Inc., Dimensional Fund Officer and President of Advisors LP, DFA Securities LLC, DEM, DFAIDG, DFAIDG and DIG. DIG and DFAITC. Director of Dimensional Fund Chairman, Trustee, Advisors Ltd., Dimensional Funds PLC, Dimensional Co-Chief Executive Funds II PLC, DFA Australia Limited, Dimensional Officer and President of Cayman Commodity Fund I Ltd., Dimensional Japan DFAITC and DEM. Ltd. and Dimensional Advisors Ltd. Chairman, 6300 Bee Cave Road, Director and Co-Chief Executive Officer of Building One Dimensional Fund Advisors Canada ULC. President, Austin, Texas 78746 Dimensional SmartNest (US) LLC. Limited Partner, 1946 Oak Hill Partners (since 2001) and VSC Investors, LLC (since 2007). Trustee, The University of Chicago. Trustee, University of Kansas Endowment Association. Formerly, Chief Executive Officer (until 2010) and Chief Investment Officer (2003-2007) of Dimensional Fund Advisors LP, DFA Securities LLC, DEM, DFAIDG, DIG , DFAITC, Dimensional Holdings Inc. Formerly, Chief Investment Officer of Dimensional Fund Advisors Ltd. Formerly, President and Chief Investment Officer of DFA Australia Limited. Formerly, Director, SA Funds (registered investment company). ------------------------------------------------------------------------------------------------------------------------------- Eduardo A. Repetto Since 2009 106 portfolios in 4 Co-Chief Executive Officer (since January 2010), Director, Co-Chief investment companies Chief Investment Officer (since March 2007) and Executive Officer and Director/Trustee of Dimensional Holdings Inc., Chief Investment Officer Dimensional Fund Advisors LP, DFA Securities LLC, of DFAIDG and DIG. DEM, DFAIDG, DIG, DFAITC and Dimensional Trustee, Co-Chief Cayman Commodity Fund I Ltd. Director, Co-Chief Executive Officer and Executive Officer, President and Chief Investment Chief Investment Officer Officer of Dimensional Fund Advisors Canada ULC. of DFAITC and DEM. Chief Investment Officer, Vice President and Director 6300 Bee Cave Road, of DFA Australia Limited. Director of Dimensional Building One Fund Advisors Ltd., Dimensional Funds PLC, Austin, TX 78746 Dimensional Funds II PLC, Dimensional Japan Ltd. 1967 and Dimensional Advisors Ltd., Formerly President of Dimensional Holdings Inc, Dimensional Fund Advisors LP, DFA Securities LLC, DEM, DFAIDG, DIG, DFAITC and Dimensional Fund Advisors Canada ULC. /1/ Each Trustee/Director holds office for an indefinite term until his or her successor is elected and qualified. /2/ Each Trustee/Director is a director or trustee of each of the four registered investment companies within the DFA Fund Complex, which includes the Funds. * Interested Trustees/Directors are described as such because they are deemed to be "interested persons," as that term is defined under the Investment Company Act of 1940, as amended, due to their positions with Dimensional Fund Advisors LP. 28 Officers The name, year of birth, information regarding positions with the Funds and the principal occupation for each officer of the Funds are set forth below. Each officer listed below holds the same office (except as otherwise noted) in the following entities: Dimensional Fund Advisors LP (prior to November 3, 2006, Dimensional Fund Advisors Inc.) ("Dimensional"), Dimensional Holdings Inc., DFA Securities LLC (prior to April 6, 2009, DFA Securities Inc.), DFAIDG, DIG, DFAITC and DEM (collectively, the "DFA Entities"). The address of each officer is: Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, unless otherwise indicated. Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years --------------------------------------------------------------------------------------------------------------------- Officers --------------------------------------------------------------------------------------------------------------------- April A. Aandal Since 2008 Vice President of all the DFA Entities. Vice President 1963 --------------------------------------------------------------------------------------------------------------------- Robyn G. Alcorta Since 2012 Vice President of all the DFA Entities. Formerly, Vice President Vice President Business Development at Capson Physicians Insurance Company 1974 (2010-2012); Vice President at Charles Schwab (2007-2010). --------------------------------------------------------------------------------------------------------------------- Darryl D. Avery Since 2005 Vice President of all the DFA Entities. Vice President 1966 --------------------------------------------------------------------------------------------------------------------- Arthur H. Barlow Since 1993 Vice President of all the DFA Entities. Director and Managing Vice President Director of DFAL (since September 2013). 1955 --------------------------------------------------------------------------------------------------------------------- Scott A. Bosworth Since 2007 Vice President of all the DFA Entities. Vice President 1968 --------------------------------------------------------------------------------------------------------------------- Valerie A. Brown Since 2001 Vice President and Assistant Secretary of all the DFA Entities, DFA Vice President and Assistant Australia Limited, Dimensional Fund Advisors Ltd., Dimensional Secretary Cayman Commodity Fund I Ltd., Dimensional Fund Advisors Pte. 1967 Ltd., Dimensional Hong Kong Limited. Director, Vice President and Assistant Secretary of Dimensional Fund Advisors Canada ULC. --------------------------------------------------------------------------------------------------------------------- David P. Butler Since 2007 Vice President of all the DFA Entities. Head of Global Financial Vice President Services of Dimensional (since 2008). 1964 --------------------------------------------------------------------------------------------------------------------- Douglas M. Byrkit Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (December 2010-January2012); Regional Director 1970 at Russell Investments (April 2006-December 2010). --------------------------------------------------------------------------------------------------------------------- James G. Charles Since 2011 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (2008-2010); Vice President, Client Portfolio 1956 Manager at American Century Investments (2001-2008). --------------------------------------------------------------------------------------------------------------------- Joseph H. Chi Since 2009 Vice President of all the DFA Entities. Co-Head of Portfolio Vice President Management of Dimensional (since March 2012). Sr. Portfolio 1966 Manager of Dimensional (since January 2012). Formerly, Portfolio Manager for Dimensional (October 2005-January 2012). --------------------------------------------------------------------------------------------------------------------- Stephen A. Clark Since 2004 Vice President of all the DFA Entities, DFA Australia Limited and Vice President Dimensional Fund Advisors Canada ULC. Head of Institutional, 1972 North America (since March 2012). Formerly, Head of Portfolio Management of Dimensional (January 2006-March 2012). --------------------------------------------------------------------------------------------------------------------- Matt B. Cobb Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since September 2011). Formerly, Vice President at 1971 MullinTBG 92005-2011). --------------------------------------------------------------------------------------------------------------------- Ryan Cooper Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since 2003). 1979 --------------------------------------------------------------------------------------------------------------------- Jeffrey D. Cornell Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (August 2002-January 2012). 1976 29 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years --------------------------------------------------------------------------------------------------------------------------- Robert P. Cornell Since 2007 Vice President of all the DFA Entities. Vice President 1949 --------------------------------------------------------------------------------------------------------------------------- George H. Crane Since 2010 Vice President of all the DFA Entities. Formerly, Senior Vice Vice President President and Managing Director at State Street Bank & Trust 1955 Company (2007-2008). --------------------------------------------------------------------------------------------------------------------------- Christopher S. Crossan Since 2004 Vice President and Global Chief Compliance Officer of all the DFA Vice President and Global Chief Entities, DFA Australia Limited, Dimensional Fund Advisors Ltd., Compliance Officer and Dimensional SmartNest (US) LLC. Chief Compliance Officer of 1965 Dimensional Fund Advisors Canada ULC. --------------------------------------------------------------------------------------------------------------------------- James L. Davis Since 1999 Vice President of all the DFA Entities. Vice President 1956 --------------------------------------------------------------------------------------------------------------------------- Robert T. Deere Since 1994 Vice President of all the DFA Entities, DFA Australia Limited and Vice President Dimensional Fund Advisors Canada ULC. 1957 --------------------------------------------------------------------------------------------------------------------------- Peter F. Dillard Since 2010 Vice President of all the DFA Entities. Research Associate for Vice President Dimensional (since August 2008). 1972 --------------------------------------------------------------------------------------------------------------------------- Robert W. Dintzner Since 2001 Vice President of all the DFA Entities. Vice President 1970 --------------------------------------------------------------------------------------------------------------------------- Richard A. Eustice Since 1998 Vice President and Assistant Secretary of all the DFA Entities and Vice President and Assistant DFA Australia Limited. Secretary 1965 --------------------------------------------------------------------------------------------------------------------------- Gretchen A. Flicker Since 2004 Vice President of all the DFA Entities. Vice President 1971 --------------------------------------------------------------------------------------------------------------------------- Jed S. Fogdall Since 2008 Vice President of all the DFA Entities. Co-Head of Portfolio Vice President Management of Dimensional (since March 2012). Sr. Portfolio 1974 Manager of Dimensional (since January 2012). --------------------------------------------------------------------------------------------------------------------------- Jeremy P. Freeman Since 2009 Vice President of all the DFA Entities. Senior Technology Manager Vice President for Dimensional (since June 2006). 1970 --------------------------------------------------------------------------------------------------------------------------- Mark R. Gochnour Since 2007 Vice President of all the DFA Entities. Vice President 1967 --------------------------------------------------------------------------------------------------------------------------- Tom M. Goodrum Since 2012 Vice President of all the DFA Entities. Formerly, Managing Director Vice President at BlackRock (2004-January 2012). 1968 --------------------------------------------------------------------------------------------------------------------------- Henry F. Gray Since 2000 Vice President of all the DFA Entities. Vice President 1967 --------------------------------------------------------------------------------------------------------------------------- John T. Gray Since 2007 Vice President of all the DFA Entities. Vice President 1974 --------------------------------------------------------------------------------------------------------------------------- Christian Gunther Since 2011 Vice President of all the DFA Entities. Senior Trader for Vice President Dimensional (since 2012). Formerly, Senior Trader for Dimensional 1975 Fund Advisors Ltd. (2009-2012); Trader for Dimensional Fund Ltd. (2008-2009); Trader for Dimensional (2004-2008). --------------------------------------------------------------------------------------------------------------------------- Joel H. Hefner Since 2007 Vice President of all the DFA Entities. Vice President 1967 --------------------------------------------------------------------------------------------------------------------------- Julie C. Henderson Since 2005 Vice President and Fund Controller of all the DFA Entities, Vice President and Fund Controller Dimensional Cayman Commodity Fund I Ltd. and Dimensional 1974 Japan Ltd. 30 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years ---------------------------------------------------------------------------------------------------------------------- Kevin B. Hight Since 2005 Vice President of all the DFA Entities. Vice President 1967 ---------------------------------------------------------------------------------------------------------------------- Christine W. Ho Since 2004 Vice President of all the DFA Entities. Vice President 1967 ---------------------------------------------------------------------------------------------------------------------- Michael C. Horvath Since 2011 Vice President of all the DFA Entities. Formerly, Managing Director, Vice President Co-Head Global Consultant Relations at BlackRock (2004-2011). 1960 ---------------------------------------------------------------------------------------------------------------------- William A. Irvine Since 2013 Vice President of all the DFA Entities, Regional Director For Vice President Dimensional (since 2012). Formerly, Vice President of Institutional 1957 Business Development at Eaton Vance (2005-2011). ---------------------------------------------------------------------------------------------------------------------- Jeff J. Jeon Since 2004 Vice President of all the DFA Entities and Dimensional Cayman Vice President Commodity Fund I Ltd. 1973 ---------------------------------------------------------------------------------------------------------------------- Stephen W. Jones Since 2012 Vice President of all the DFA Entities. Formerly, Facilities Manager Vice President for Dimensional (October 2008-January 2012). 1968 ---------------------------------------------------------------------------------------------------------------------- Patrick M. Keating Since 2003 Vice President and Chief Operating Officer of all the DFA Entities, Vice President Dimensional Cayman Commodity Fund I Ltd., Dimensional Japan 1954 Ltd., Dimensional Advisors Ltd., Dimensional Hong Kong Limited and Chief Operating Officer of Dimensional. Director, Vice President and Chief Privacy Officer of Dimensional Fund Advisors Canada ULC. Director of DFA Australia Limited, Dimensional Fund Advisors Ltd., Dimensional Japan Ltd. and Dimensional Advisors Ltd. Director and Vice President of Dimensional Hong Kong Limited and Dimensional Fund Advisors Pte. Ltd. ---------------------------------------------------------------------------------------------------------------------- Andrew K. Keiper Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since October 2004). 1977 ---------------------------------------------------------------------------------------------------------------------- Glenn E. Kemp Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional Fund Advisors LP (April 2006-January 2012). 1948 ---------------------------------------------------------------------------------------------------------------------- David M. Kershner Since 2010 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since June 2004). 1971 ---------------------------------------------------------------------------------------------------------------------- Timothy R. Kohn Since 2011 Vice President of all the DFA Entities. Head of Defined Contribution Vice President Sales for Dimensional (since August 2010). Formerly, Chief DC 1971 Strategist, Barclays Global Investors (2005-2009). ---------------------------------------------------------------------------------------------------------------------- Joseph F. Kolerich Since 2004 Vice President of all the DFA Entities. Sr. Portfolio Manager of Vice President Dimensional (since January 2012).Formerly, Portfolio Manager for 1971 Dimensional (April 2001-January 2012). ---------------------------------------------------------------------------------------------------------------------- Mark D. Krasniewski Since 2013 Vice President of all the DFA Entities. Formerly, Senior Associate Vice President Investment Analytics and Data for Dimensional (January 2012- 1981 December 2012); Systems Developer for Dimensional (June 2007- December 2011). ---------------------------------------------------------------------------------------------------------------------- Stephen W. Kurad Since 2011 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (2007-2010). 1968 ---------------------------------------------------------------------------------------------------------------------- Michael F. Lane Since 2004 Vice President of all the DFA Entities. Chief Executive Officer of Vice President Dimensional SmartNest (US) LLC (since 2012). 1967 ---------------------------------------------------------------------------------------------------------------------- Francis R. Lao Since 2011 Vice President of all the DFA Entities. Formerly, Vice President - Vice President Global Operations at Janus Capital Group (2005-2011). 1969 ---------------------------------------------------------------------------------------------------------------------- David F. LaRusso Since 2013 Vice President of all the DFA Entities. Formerly, Senior Trader for Vice President Dimensional (January 2010-December 2012); Trader for 1978 Dimensional (2000-2009). 31 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years ---------------------------------------------------------------------------------------------------------------------------- Juliet H. Lee Since 2005 Vice President of all the DFA Entities. Vice President 1971 ---------------------------------------------------------------------------------------------------------------------------- Marlena I. Lee Since 2011 Vice President of all the DFA Entities. Formerly, Research Vice President Associate for Dimensional (July 2008-2010). 1980 ---------------------------------------------------------------------------------------------------------------------------- John B. Lessley Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since January 2008). 1960 ---------------------------------------------------------------------------------------------------------------------------- Apollo D. Lupescu Since 2009 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since February 2004). 1969 ---------------------------------------------------------------------------------------------------------------------------- Kenneth M. Manell Since 2010 Vice President of all the DFA Entities and Dimensional Cayman Vice President Commodity Fund I Ltd. Counsel for Dimensional (since September 1972 2006). ---------------------------------------------------------------------------------------------------------------------------- Rose C. Manziano Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (Since August 2010). Formerly, Vice President, Sales 1971 and Business Development at AdvisorsIG (PPMG) (2009- 2010); Vice President at Credit Suisse (2007-2009). ---------------------------------------------------------------------------------------------------------------------------- Aaron M. Marcus Since 2008 Vice President of all the DFA Entities and Head of Global Human Vice President & Head of Global Resources of Dimensional. Human Resources 1970 ---------------------------------------------------------------------------------------------------------------------------- David R. Martin Since 2007 Vice President, Chief Financial Officer and Treasurer of all the DFA Vice President, Entities. Director, Vice President, Chief Financial Officer and Chief Financial Officer Treasurer of Dimensional Fund Advisors Ltd., DFA Australia and Treasurer Limited, Dimensional Advisors Ltd., Dimensional Fund Advisors 1956 Pte. Ltd., Dimensional Hong Kong Limited and Dimensional Fund Advisors Canada ULC. Chief Financial Officer, Treasurer, and Vice President of Dimensional SmartNest (US) LLC, and Dimensional Cayman Commodity Fund I Ltd. Director of Dimensional Funds PLC and Dimensional Funds II PLC. Statutory Auditor of Dimensional Japan Ltd. ---------------------------------------------------------------------------------------------------------------------------- Matthew H. Miller Since 2013 Vice President of all the DFA Entities. Client Service Manager for Vice President Dimensional (Since 2012). Formerly, Regional Director for 1978 Dimensional (2008-2011; Senior Associate at Dimensional (2007- 2010). ---------------------------------------------------------------------------------------------------------------------------- Jonathan G. Nelson Since 2013 Vice President of all the DFA Entities. Manager, Investment Vice President Systems at Dimensional (Since 2011). Formerly, Project Manager 1971 for Dimensional (2007-2010). ---------------------------------------------------------------------------------------------------------------------------- Catherine L. Newell Vice President since Vice President and Secretary of all the DFA Entities. Director, Vice Vice President and Secretary 1997 and Secretary President and Secretary of DFA Australia Limited and Dimensional 1964 since 2000 Fund Advisors Ltd. (since February 2002, April 1997 and May 2002, respectively). Vice President and Secretary of Dimensional Fund Advisors Canada ULC (since June 2003), Dimensional SmartNest (US) LLC, Dimensional Cayman Commodity Fund I Ltd., Dimensional Japan Ltd. (since February 2012), Dimensional Advisors Ltd. (since March 2012), Dimensional Fund Advisors Pte. Ltd. (since June 2012) and Dimensional Hong Kong Limited (since August 2012). Director, Dimensional Funds PLC and Dimensional Funds II PLC (since 2002 and 2006, respectively). Director of Dimensional Japan Ltd., Dimensional Advisors Ltd., Dimensional Fund Advisors Pte. Ltd. and Dimensional Hong Kong Limited (since August 2012 and July 2012). ---------------------------------------------------------------------------------------------------------------------------- Pamela B. Noble Since 2011 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (2008-2010). 1964 ---------------------------------------------------------------------------------------------------------------------------- Selwyn J. Notelovitz Since 2012 Vice President of all DFA Entities. Deputy Chief Compliance Officer Vice President of Dimensional (since December 2012). Formerly Chief Compliance 1961 Officer of Wellington Management Company, LLP (2004-2011). 32 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years ----------------------------------------------------------------------------------------------------------------------- Carolyn L. O Since 2010 Vice President of all the DFA Entities and Dimensional Cayman Vice President Commodity Fund I Ltd. Deputy General Counsel, Funds (since 1974 2011). Counsel for Dimensional (2007-2011). ----------------------------------------------------------------------------------------------------------------------- Gerard K. O'Reilly Since 2007 Vice President of all the DFA Entities. Vice President 1976 ----------------------------------------------------------------------------------------------------------------------- Daniel C. Ong Since 2009 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since July 2005). 1973 ----------------------------------------------------------------------------------------------------------------------- Kyle K. Ozaki Since 2010 Vice President of all the DFA Entities. Senior Compliance Officer for Vice President Dimensional (since January 2008). Formerly, Compliance Officer 1978 (February 2006-December 2007). ----------------------------------------------------------------------------------------------------------------------- Matthew A. Pawlak Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional Fund Advisors LP (since 2012). Formerly, Senior 1977 Consultant at Hewitt EnnisKnupp (June 2011-December 2011); Senior Investment Analyst and Consultant at Hewitt EnnisKnupp (July 2008-June 2011). ----------------------------------------------------------------------------------------------------------------------- Brian P. Pitre Since 2013 Vice President of all the DFA Entities. Counsel for Dimensional Vice President Fund Advisors LP (since 2009). Formerly, Vice President and 1976 Corporate Counsel at Mellon Capital Management (2006-2008). ----------------------------------------------------------------------------------------------------------------------- David A. Plecha Since 1993 Vice President of all the DFA Entities, DFA Australia Limited, Vice President Dimensional Fund Advisors Ltd. and Dimensional Fund Advisors 1961 Canada ULC. ----------------------------------------------------------------------------------------------------------------------- Allen Pu Since 2011 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since July 2006). 1970 ----------------------------------------------------------------------------------------------------------------------- Theodore W. Randall Since 2008 Vice President of all the DFA Entities. Formerly, Research Vice President Associate of Dimensional (2006-2008). 1973 ----------------------------------------------------------------------------------------------------------------------- Mark A. Regier Since 2013 Vice President of all the DFA Entities. Planning and Analysis Vice President Manager for Dimensional (since July 2007). 1969 ----------------------------------------------------------------------------------------------------------------------- Savina B. Rizova Since 2012 Vice President of all the DFA Entities. Formerly, Research Vice President Associate for Dimensional (June 2011-January 2012); Research 1981 Assistant for Dimensional (July 2004-August 2007). ----------------------------------------------------------------------------------------------------------------------- L. Jacobo Rodriguez Since 2005 Vice President of all the DFA Entities. Vice President 1971 ----------------------------------------------------------------------------------------------------------------------- Julie A. Saft Since 2010 Vice President of all the DFA Entities. Client Systems Manager for Vice President Dimensional (since July 2008). 1959 ----------------------------------------------------------------------------------------------------------------------- Walid A. Shinnawi Since 2010 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (March 2006-January 2010). 1961 ----------------------------------------------------------------------------------------------------------------------- Bruce A. Simmons Since 2009 Vice President of all the DFA Entities. Investment Operations Vice President Manager for Dimensional (since May 2007). 1965 ----------------------------------------------------------------------------------------------------------------------- Ted R. Simpson Since 2007 Vice President of all the DFA Entities. Vice President 1968 ----------------------------------------------------------------------------------------------------------------------- Bryce D. Skaff Since 2007 Vice President of all the DFA Entities. Vice President 1975 ----------------------------------------------------------------------------------------------------------------------- Andrew D. Smith Since 2011 Vice President of all the DFA Entities. Project Manager for Vice President Dimensional (2007-2010). 1968 ----------------------------------------------------------------------------------------------------------------------- Grady M. Smith Since 2004 Vice President of all the DFA Entities and Dimensional Fund Vice President Advisors Canada ULC. 1956 33 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years --------------------------------------------------------------------------------------------------------------------- Carl G. Snyder Since 2000 Vice President of all the DFA Entities. Vice President 1963 --------------------------------------------------------------------------------------------------------------------- Lawrence R. Spieth Since 2004 Vice President of all the DFA Entities. Vice President 1947 --------------------------------------------------------------------------------------------------------------------- Bradley G. Steiman Since 2004 Vice President of all the DFA Entities and Director and Vice Vice President President of Dimensional Fund Advisors Canada ULC. 1973 --------------------------------------------------------------------------------------------------------------------- Richard H. Tatlow Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since April 2010). Formerly, Principal, Investment 1971 Strategist at Barclays Global Investors (2004-2009). --------------------------------------------------------------------------------------------------------------------- Blake T. Tatsuta Since 2013 Vice President of all the DFA Entities, Manager, Investment Vice President Analytics and Data for Dimensional (since 2012). Formerly, 1973 Research Assistant at Dimensional (2002-2011). --------------------------------------------------------------------------------------------------------------------- Erik T. Totten Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since 2010). Formerly, Senior Associate at 1980 Dimensional (2007-2009). --------------------------------------------------------------------------------------------------------------------- John H. Totten Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (January 2008-January 2012). 1978 --------------------------------------------------------------------------------------------------------------------- Robert C. Trotter Since 2009 Vice President of all the DFA Entities. Senior Manager, Technology Vice President for Dimensional (since March 2007). 1958 --------------------------------------------------------------------------------------------------------------------- Karen E. Umland Since 1997 Vice President of all the DFA Entities, DFA Australia Limited, Vice President Dimensional Fund Advisors Ltd., and Dimensional Fund Advisors 1966 Canada ULC. --------------------------------------------------------------------------------------------------------------------- Brian J. Walsh Since 2009 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since 2004). 1970 --------------------------------------------------------------------------------------------------------------------- Weston J. Wellington Since 1997 Vice President of all the DFA Entities. Vice President 1951 --------------------------------------------------------------------------------------------------------------------- Ryan J. Wiley Since 2007 Vice President of all the DFA Entities. Vice President 1976 --------------------------------------------------------------------------------------------------------------------- Paul E. Wise Since 2005 Vice President of all the DFA Entities. Vice President 1955 --------------------------------------------------------------------------------------------------------------------- Joseph L. Young Since 2011 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (2005-2010). 1978 /1/ Each officer holds office for an indefinite term at the pleasure of the Boards of Trustees/Directors and until his or her successor is elected and qualified. 34 VOTING PROXIES ON FUND PORTFOLIO SECURITIES A description of the policies and procedures that the Fund uses in voting proxies relating to securities held in the portfolio is available without charge, upon request, by calling collect: (512) 306-7400. Information regarding how the Advisor votes these proxies is available from the EDGAR database on the SEC's website at http://www.sec.gov and from the Advisor's website at http://www.dimensional.com and reflects the twelve-month period beginning July 1st and ending June 30th. 35 NOTICE TO SHAREHOLDERS (Unaudited) For shareholders that do not have an October 31, 2013 tax year end, this notice is for informational purposes only. For shareholders with an October 31, 2013 tax year end, please consult your tax advisor as to the pertinence of this notice. For the fiscal year November 1, 2012 to October 31, 2013, each Portfolio is designating the following items with regard to distributions paid during the fiscal year. All designations are based on financial information available as of the date of this annual report and, accordingly are subject to change. For each item, it is the intention of the Portfolio to designate the maximum amount permitted under the Internal Revenue Code and the regulations thereunder. Qualifying For Net Corporate Investment Short-Term Long-Term U.S. Dividends Income Capital Gain Capital Gain Total Government Received DFA Investment Dimensions Group Inc. Distributions Distributions Distributions Distributions Interest (1) Deduction (2) ------------------------------------ ------------- ------------- ------------- ------------- ------------ ------------- Dimensional Retirement Equity Fund II............................. 97% 3% -- 100% -- 100% Dimensional Retirement Fixed Income Fund II............................. 93% 2% 4% 100% -- -- Dimensional Retirement Fixed Income Fund III............................ 100% -- -- 100% 100% -- Qualifying Short- Qualifying Foreign Foreign Qualifying Term Dividend Tax Source Interest Capital DFA Investment Dimensions Group Inc. Income (3) Credit (4) Income (5) Income (6) Gain (7) ------------------------------------ ---------- ---------- ---------- ---------- ---------- Dimensional Retirement Equity Fund II............................. 100% 2% 41% 100% 100% Dimensional Retirement Fixed Income Fund II............................. -- -- -- 100% 100% Dimensional Retirement Fixed Income Fund III............................ -- -- -- 100% 100% (1)"U.S. Government Interest" represents the amount of interest that was derived from direct U.S. Government obligations and distributed during the fiscal year. This amount is reflected as a percentage of total ordinary income distributions (the total of short-term capital gain and net investment income distributions). Generally, interest from direct U.S. Government obligations is exempt from state income tax. (2)Qualifying dividends represent dividends which qualify for the corporate dividends received deduction and is reflected as a percentage of ordinary income distributions (the total of short-term capital gain and net investment income distributions). (3)The percentage in this column represents the amount of "Qualifying Dividend Income" as created by the Jobs and Growth Tax Relief Reconciliation Act of 2003 and is reflected as a percentage of ordinary income distributions (the total of short-term capital gain and net investment income distributions). Please note that these percentages are designated only, refer to your 1099 for actual qualified dividend income. (4)"Foreign Tax Credit" represents dividends which qualify for the foreign tax credit pass through and is reflected as a percentage of investment company taxable income (the total of short-term capital gain and net investment income distributions). (5)"Foreign Source Income" represents the portion of dividends derived from foreign sources, and is reflected as a percentage of investment company taxable income (the total of short-term capital gain and net investment income distrbutions). (6)The percentage in this column represents the amount of "Qualifying Interest Income" as created by The American Jobs Creation Act of 2004. The information is reflected as a percentage of ordinary income distributions (the total of short-term capital gain and net investment income distributions). (7)The percentage in this column represents the amount of "Qualifying Short-Term Capital Gain" as created by The American Jobs Creation Act of 2004. The information is reflected as a percentage of ordinary income distributions (the total of short-term capital gain and net investment income distributions). 36 [LOGO] DFA103113-034A [LOGO] ANNUAL REPORT period ended: October 31, 2013 DFA Investment Dimensions Group Inc. U.S. Large Cap Growth Portfolio U.S. Small Cap Growth Portfolio International Large Cap Growth Portfolio International Small Cap Growth Portfolio [LOGO] Dimensional Fund Advisors 6300 Bee Cave Road, Building One Austin, TX 78746 November 2013 Dear Fellow Shareholder, Our goal at Dimensional is to deliver an outstanding investment experience to our clients. Our close ties to academia help us identify leading research that can be beneficial to investors, and our team works to interpret, rigorously test, and consider the practical applicability of those ideas in carefully implemented investment strategies. This focus on research and implementation has been central to Dimensional's approach since our founding and will continue to be a key part of our offer to investors. Sincerely, /s/ David G. Booth Chairman and Co-Chief Executive Officer DFA INVESTMENT DIMENSIONS GROUP INC. ANNUAL REPORT Table of Contents Page ---- Letter to Shareholders Definitions of Abbreviations and Footnotes................. 1 Performance Charts...................................... 2 Management's Discussion and Analysis.................... 4 Disclosure of Fund Expenses............................. 7 Disclosure of Portfolio Holdings........................ 9 Summary Schedules of Portfolio Holdings U.S. Large Cap Growth Portfolio..................... 10 U.S. Small Cap Growth Portfolio..................... 13 International Large Cap Growth Portfolio............ 16 International Small Cap Growth Portfolio............ 20 Statements of Assets and Liabilities.................... 24 Statements of Operations................................ 25 Statements of Changes in Net Assets..................... 26 Financial Highlights.................................... 27 Notes to Financial Statements........................... 28 Report of Independent Registered Public Accounting Firm. 38 Fund Management............................................ 39 Voting Proxies on Fund Portfolio Securities................ 48 Notice to Shareholders..................................... 49 This report is submitted for the information of the Fund's shareholders. It is not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus. i DFA INVESTMENT DIMENSIONS GROUP INC. DEFINITIONS OF ABBREVIATIONS AND FOOTNOTES Summary Schedules of Portfolio Holdings --------------------------------------- Investment Abbreviations ADR American Depositary Receipt FNMA Federal National Mortgage Association P.L.C. Public Limited Company Investment Footnotes + See Note B to Financial Statements. ++ Securities have generally been fair valued. See Note B to Financial Statements. ** Calculated as a percentage of total net assets. Percentages shown parenthetically next to the category headings have been calculated as a percentage of total investments. "Other Securities" are those securities that are not among the top 50 holdings of the Fund or do not represent more than 1.0% of the net assets of the Fund. Some of the individual securities within this category may include Total or Partial Securities on Loan and/or Non-Income Producing Securities. * Non-Income Producing Securities. # Total or Partial Securities on Loan. @ Security purchased with cash proceeds from Securities on Loan. (S) Affiliated Fund. Financial Highlights -------------------- (A) Computed using average shares outstanding. (B) Because of commencement of operations and related preliminary transaction costs, these ratios are not necessarily indicative of future ratios. (C) Annualized (D) Non-Annualized All Statements, Schedules and Notes to Financial Statements ----------------------------------------------------------- -- Amounts designated as -- are either zero or rounded to zero. REIT Real Estate Investment Trust SEC Securities and Exchange Commission (a) Commencement of Operations. 1 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- U.S. LARGE CAP GROWTH PORTFOLIO VS. RUSSELL 1000(R) GROWTH INDEX December 20, 2012-October 31, 2013 [CHART] Growth of $10,000 U.S. Large Cap Russell 1000(R) Growth Portfolio Growth Index ---------------- -------------- 12/2012 $10,000.00 $10,000.00 12/2012 $ 9,980.00 $ 9,901.21 01/2013 $10,470.00 $10,325.57 02/2013 $10,590.00 $10,454.06 03/2013 $10,979.25 $10,846.23 04/2013 $11,149.54 $11,076.46 05/2013 $11,440.05 $11,282.23 06/2013 $11,269.15 $11,069.92 07/2013 $11,891.87 $11,656.86 Past performance is not predictive of 08/2013 $11,610.64 $11,457.08 future performance. 09/2013 $12,104.14 $11,967.65 10/2013 $12,658.45 $12,497.05 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. From Total Return 12/20/2012 Russell data copyright (C) Russell --------------------------------- Investment Group 1995-2013, all 26.58% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- U.S. SMALL CAP GROWTH PORTFOLIO VS. RUSSELL 2000(R) GROWTH INDEX December 20, 2012-October 31, 2013 [CHART] Growth of $10,000 U.S. Small Cap Growth Portfolio Russell 2000(R) Growth Index ------------------------------- ---------------------------- 12/2012 $10,000.00 $10,000.00 12/2012 $10,060.00 $ 9,977.10 01/2013 $10,630.00 $10,633.61 02/2013 $10,690.00 $10,746.63 03/2013 $11,225.06 $11,295.11 04/2013 $11,085.00 $11,221.11 05/2013 $11,705.28 $11,790.41 06/2013 $11,718.16 $11,717.02 07/2013 $12,529.42 $12,603.37 Past performance is not predictive of 08/2013 $12,248.98 $12,357.05 future performance. 09/2013 $13,035.71 $13,217.12 10/2013 $13,517.40 $13,458.03 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. From Total Return 12/20/2012 Russell data copyright (C) Russell --------------------------------------- Investment Group 1995-2013, all 35.17% rights reserved. -------------------------------------------------------------------------------- 2 DFA INVESTMENT DIMENSIONS GROUP INC. PERFORMANCE CHARTS (Unaudited) -------------------------------------------------------------------------------- INTERNATIONAL LARGE CAP GROWTH PORTFOLIO VS. MSCI WORLD EX USA GROWTH INDEX (NET DIVIDENDS) December 20, 2012-October 31, 2013 [CHART] Growth of $10,000 International Large Cap MSCI World ex USA Growth Portfolio Growth Index (net dividends) ----------------------- ---------------------------- 12/2012 $10,000.00 $10,000.00 12/2012 $10,030.00 $ 9,931.91 01/2013 $10,370.00 $10,366.30 02/2013 $10,300.00 $10,400.62 03/2013 $10,455.00 $10,553.49 04/2013 $10,845.93 $10,926.31 05/2013 $10,725.65 $10,713.73 06/2013 $10,440.29 $10,347.31 07/2013 $11,017.49 $10,830.96 08/2013 $10,835.22 $10,682.90 Past performance is not predictive of 09/2013 $11,642.12 $11,392.17 future performance. 10/2013 $11,997.68 $11,690.88 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the From redemption of fund shares. Total Return 12/20/2012 --------------------------------------- MSCI data copyright MSCI 2013, all 19.98% rights reserved. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- INTERNATIONAL SMALL CAP GROWTH PORTFOLIO VS. MSCI WORLD EX USA SMALL CAP GROWTH INDEX (NET DIVIDENDS) December 20, 2012-October 31, 2013 [CHART] Growth of $10,000 International Small Cap MSCI World ex USA Small Cap Growth Portfolio Growth Index (net dividends) ----------------------- ---------------------------- 12/2012 $10,000.00 $10,000.00 12/2012 $10,050.00 $ 9,979.43 01/2013 $10,460.00 $10,332.04 02/2013 $10,530.00 $10,348.28 03/2013 $10,813.05 $10,607.56 04/2013 $11,123.14 $10,813.06 05/2013 $10,793.04 $10,585.36 06/2013 $10,618.99 $10,181.39 07/2013 $11,254.91 $10,814.42 08/2013 $11,224.63 $10,783.68 Past performance is not predictive of 09/2013 $12,048.20 $11,690.01 future performance. 10/2013 $12,382.59 $11,932.78 The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the From redemption of fund shares. Total Return 12/20/2012 --------------------------------------- MSCI data copyright MSCI 2013, all 23.83% rights reserved. -------------------------------------------------------------------------------- 3 DFA INVESTMENT DIMENSIONS GROUP INC. MANAGEMENT'S DISCUSSION AND ANALYSIS U.S. Equity Market Review 12 Months Ended October 31, 2013 The one-year period ended October 31, 2013, was characterized by strong gains in U.S. equities. The broad U.S. equity market, as measured by the Russell 3000(R) Index, had positive returns in 10 of the 12 months. The size premium was positive during the period with small cap stocks outperforming large cap stocks as measured by the Russell indices. Micro cap stocks were the strongest performers. Total Return for 12 Months Ended October 31, 2013 ------------------------------------------------- Russell 3000(R) Index........................ 28.99% Russell Microcap(R) Index (micro cap stocks). 38.72% Russell 2000(R) Index (small cap stocks)..... 36.28% Russell 1000(R) Index (large cap stocks)..... 28.40% Dow Jones U.S. Select REIT Index/SM/......... 9.96% The value premium was negative in small cap stocks while the performance of large cap value and large cap growth was almost identical as measured by the Russell indices. Total Return for 12 Months Ended October 31, 2013 ------------------------------------------------- Russell 2000(R) Value Index (small cap value stocks)... 32.83% Russell 2000(R) Growth Index (small cap growth stocks). 39.84% Russell 1000(R) Value Index (large cap value stocks)... 28.29% Russell 1000(R) Growth Index (large cap growth stocks). 28.30% ---------- Source: Russell data copyright (C) Russell Investment Group 1995-2013, all rights reserved. Dimensional Fund Advisors LP ("Dimensional" or the "Advisor") believes that among the most important factors explaining differences in the behavior of diversified equity portfolios are the market capitalization and value/ growth characteristics of the portfolios' holdings. Value characteristics are a function of stock price relative to one or more fundamental characteristics such as book value, earnings, or dividends. For many Dimensional U.S. equity portfolios, differences in returns over the 12 months ended October 31, 2013, were primarily attributable to differences in value/growth and size characteristics as well as the exclusion of REIT securities from most Dimensional portfolios and the exclusion of securities of highly regulated utilities from most value strategies. For many portfolios, the construction approach used by Dimensional generally resulted in portfolios with greater weight in value, small cap and/or micro cap companies relative to widely used benchmarks. Domestic Equity Portfolios' Performance Overview U.S. Large Cap Growth Portfolio Period Ended October 31, 2013 The U.S. Large Cap Growth Portfolio seeks to capture the returns of U.S. large company growth stocks with high profitability. Growth is measured primarily by book-to-market ratio. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 310 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. From the Portfolio's inception on December 20, 2012, through October 31, 2013, total returns were 26.58% for the Portfolio and 24.97% for the Russell 1000 Growth Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the U.S. equity market rather than the behavior of a limited number of stocks. The Portfolio's greater exposure to companies with higher expected profitability than the Index contributed to the Portfolio's relative performance as these stocks generally outperformed the Index during the period. The Portfolio had greater exposure than the Index to smaller stocks within the large cap universe, which contributed to 4 the Portfolio's outperformance relative to the Index as these stocks outperformed large caps during the period. The Portfolio's exclusion of real estate investment trusts ("REITs") also contributed to the Portfolio's outperformance relative to the Index as REITs underperformed during the period. U.S. Small Cap Growth Portfolio The U.S. Small Cap Growth Portfolio seeks to capture the returns of U.S. small company growth stocks with high profitability. Growth is measured primarily by book-to-market ratio. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 470 securities. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. From the Portfolio's inception on December 20, 2012, through October 31, 2013, total returns were 35.17% for the Portfolio and 34.58% for the Russell 2000 Growth Index. As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the U.S. equity market rather than the behavior of a limited number of stocks. The Portfolio's greater exposure to companies with higher expected profitability than the Index contributed to the Portfolio's relative performance as these stocks generally outperformed the Index during the period. The Portfolio's exclusion of real estate investment trusts ("REITs") and highly regulated utilities also contributed to the Portfolio's outperformance relative to the Index as both sectors underperformed the overall Index during the period. International Equity Market Review 12 Months Ended October 31, 2013 The one-year period ended October 31, 2013, was characterized by generally positive monthly returns in the international equity markets with the exception of a sharp decline from May to June and a smaller decline in August. As measured by the MSCI indices below for developed markets outside the U.S., small cap stocks generally outperformed large cap stocks while value stocks outperformed growth stocks. 12 Months Ended October 31, 2013 -------------------------------- U.S. Dollar Return ------------------ MSCI World ex USA Index........... 24.65% MSCI World ex USA Small Cap Index. 27.81% MSCI World ex USA Value Index..... 26.12% MSCI World ex USA Growth Index.... 23.17% ---------- During the period, the U.S. dollar (USD) was mixed against developed markets currencies. While the U.S. dollar depreciated against the euro, Swiss franc, and several other European-based developed markets currencies, it appreciated against the sterling, Canadian dollar, Australian dollar and Japanese yen. 12 Months Ended October 31, 2013 -------------------------------- Ten Largest Foreign Developed Markets by Market Cap Return Local Currency Return U.S. Dollar ---------------------------------------------------------- --------------------- ----------- United Kingdom........................ 20.70% 20.37% Japan................................. 64.48% 34.00% Canada................................ 10.59% 5.99% France................................ 27.55% 33.82% Australia............................. 26.44% 15.47% Switzerland........................... 27.49% 31.10% Germany............................... 24.72% 30.85% Spain................................. 30.69% 37.11% Sweden................................ 24.39% 27.55% Hong Kong............................. 14.30% 14.25% ---------- Source: Returns are of MSCI standard indices net of foreign withholding taxes on dividends. Copyright MSCI 2013, all rights reserved. 5 International Equity Portfolios' Performance Overview International Large Cap Growth Portfolio Period Ended October 31, 2013 The International Large Cap Growth Portfolio seeks to capture the returns of international large company growth stocks with high profitability. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 450 securities in 22 eligible developed markets. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. From the Portfolio's inception on December 20, 2012, through October 31, 2013, total returns were 19.98% for the Portfolio and 16.91% for the MSCI World ex USA Growth Index (net dividends). As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the international equity markets rather than by the behavior of a limited number of stocks. The Portfolio's greater exposure to companies with higher expected profitability was primarily responsible for the Portfolio's outperformance relative to the Index. To a lesser extent, differences in the valuation timing and methodology between the Portfolio and the Index generally detracted from the Portfolio's relative performance. The Portfolio prices foreign exchange rates at the closing of the U.S. markets while the Index uses rates at 4 pm London time. The Portfolio also may use fair value pricing to price certain portfolio securities at the closing of the U.S. markets while the Index uses local market closing prices. International Small Cap Growth Portfolio The International Small Cap Growth Portfolio seeks to capture the returns of international small company growth stocks with high profitability. The investment strategy is process driven, emphasizing broad diversification. As of October 31, 2013, the Portfolio held approximately 800 securities in 22 eligible developed market countries. In general, cash exposure was low throughout the year with an average cash balance of less than 1% of the Portfolio's assets. From the Portfolio's inception on December 20, 2012, through October 31, 2013, total returns were 23.83% for the Portfolio and 19.33% for the MSCI World ex USA Small Cap Growth Index (net dividends). As a result of the Portfolio's diversified investment approach, performance was determined principally by broad structural trends in the international equity markets rather than by the behavior of a limited number of stocks. The Portfolio's greater weight in companies with higher expected profitability was primarily responsible for the outperformance relative to the Index. The Portfolio's exclusion of real estate investment trusts ("REITs") also benefited the Portfolio's relative performance as REITs underperformed during the period. To a lesser extent, differences in the valuation timing and methodology between the Portfolio and the Index generally detracted from the Portfolio's relative performance. The Portfolio prices foreign exchange rates at the closing of the U.S. markets while the Index uses rates at 4 pm London time. The Portfolio also may use fair value pricing to price certain portfolio securities at the closing of the U.S. markets while the Index uses local market closing prices. 6 DFA INVESTMENT DIMENSIONS GROUP INC. DISCLOSURE OF FUND EXPENSES (Unaudited) The following Expense Tables are shown so that you can understand the impact of fees on your investment. All mutual funds have operating expenses. As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports, among others. Operating expenses, legal and audit services, which are deducted from a fund's gross income, directly reduce the investment return of the fund. A fund's expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs, in dollars, of investing in the fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period. The Expense Tables below illustrate your fund's costs in two ways. Actual Fund Return This section helps you to estimate the actual expenses after fee waivers that you paid over the period. The "Ending Account Value" shown is derived from the fund's actual return and "Expenses Paid During Period" reflect the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period. To do so, simply divide your account value by $1,000 (for example, a $7,500 account value divided by $1,000 = 7.5), then multiply the result by the number given for your fund under the heading "Expenses Paid During Period." Hypothetical Example for Comparison Purposes This section is intended to help you compare your fund's costs with those of other mutual funds. The hypothetical "Ending Account Value" and "Expenses Paid During Period" are derived from the fund's actual expense ratio and an assumed 5% annual return before expenses. In this case, because the return used is not the fund's actual return, the results do not apply to your investment. The example is useful in making comparisons because the SEC requires all mutual funds to calculate expenses based on a 5% annual return. You can assess your fund's costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds. Please note that the expenses shown in the tables are meant to highlight and help you compare ongoing costs only and do not reflect any transactional costs, if applicable. The "Annualized Expense Ratio" represents the actual expenses for the six-month period indicated. Six Months Ended October 31, 2013 EXPENSE TABLES Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/13 10/31/13 Ratio* Period* --------- --------- ---------- -------- U.S. Large Cap Growth Portfolio ------------------------------- Actual Fund Return Institutional Class Shares..... $1,000.00 $1,135.30 0.20% $1.08 Hypothetical 5% Annual Return Institutional Class Shares..... $1,000.00 $1,024.20 0.20% $1.02 U.S. Small Cap Growth Portfolio ------------------------------- Actual Fund Return Institutional Class Shares..... $1,000.00 $1,219.40 0.40% $2.24 Hypothetical 5% Annual Return Institutional Class Shares..... $1,000.00 $1,023.19 0.40% $2.04 7 DISCLOSURE OF FUND EXPENSES CONTINUED Beginning Ending Expenses Account Account Annualized Paid Value Value Expense During 05/01/13 10/31/13 Ratio* Period* --------- --------- ---------- -------- International Large Cap Growth Portfolio ---------------------------------------- Actual Fund Return Institutional Class Shares.............. $1,000.00 $1,106.20 0.30% $1.59 Hypothetical 5% Annual Return Institutional Class Shares.............. $1,000.00 $1,023.69 0.30% $1.53 International Small Cap Growth Portfolio ---------------------------------------- Actual Fund Return Institutional Class Shares.............. $1,000.00 $1,113.20 0.55% $2.93 Hypothetical 5% Annual Return Institutional Class Shares.............. $1,000.00 $1,022.43 0.55% $2.80 ---------- * Expenses are equal to the fund's annualized expense ratio for the six-month period, multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period (184), then divided by the number of days in the year (365) to reflect the six-month period. 8 DFA INVESTMENT DIMENSIONS GROUP INC. DISCLOSURE OF PORTFOLIO HOLDINGS (Unaudited) The SEC requires that all funds file a complete Schedule of Investments with the SEC for their first and third fiscal quarters on Form N-Q. For DFA Investment Dimensions Group Inc., this would be for the fiscal quarters ending January 31 and July 31. The Form N-Q filing must be made within 60 days of the end of the quarter. DFA Investment Dimensions Group Inc. filed its most recent Form N-Q with the SEC on September 27, 2013. It is available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room). SEC regulations permit a fund to include in its reports to shareholders a "Summary Schedule of Portfolio Holdings" in lieu of a full Schedule of Investments. The Summary Schedule of Portfolio Holdings reports the fund's 50 largest holdings in unaffiliated issuers and any investments that exceed one percent of the fund's net assets at the end of the reporting period. The amendments also require that the Summary Schedule of Portfolio Holdings identify each category of investments that is held. A fund is required to file a complete Schedule of Investments with the SEC on Form N-CSR within ten days after mailing the annual and semi-annual reports to shareholders. It will be available upon request, without charge, by calling collect: (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, or by visiting the SEC's website at http://www.sec.gov, or they may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the Public Reference Room). PORTFOLIO HOLDINGS The SEC requires that all funds present their categories of portfolio holdings in a table, chart or graph format in their annual and semi-annual shareholder reports, whether or not a Schedule of Investments is utilized. The following table, which presents portfolio holdings as a percent of total investments before short-term investments and collateral for loaned securities, is provided in compliance with such requirement. The categories shown below represent broad industry sectors. Each industry sector consists of one or more specific industry classifications. DOMESTIC AND INTERNATIONAL EQUITY PORTFOLIOS U.S. Large Cap Growth Portfolio Consumer Discretionary....................... 23.2% Consumer Staples............................. 13.2% Energy....................................... 3.1% Financials................................... 3.4% Health Care.................................. 12.9% Industrials.................................. 16.1% Information Technology....................... 19.9% Materials.................................... 6.9% Telecommunication Services................... 1.1% Utilities.................................... 0.2% ----- 100.0% U.S. Small Cap Growth Portfolio Consumer Discretionary....................... 24.5% Consumer Staples............................. 5.0% Energy....................................... 2.6% Financials................................... 7.4% Health Care.................................. 12.3% Industrials.................................. 21.6% Information Technology....................... 20.3% Materials.................................... 5.5% Telecommunication Services................... 0.8% ----- 100.0% International Large Cap Growth Portfolio Consumer Discretionary....................... 21.0% Consumer Staples............................. 12.8% Energy....................................... 3.5% Financials................................... 5.7% Health Care.................................. 13.0% Industrials.................................. 19.1% Information Technology....................... 5.8% Materials.................................... 9.4% Telecommunication Services................... 8.6% Utilities.................................... 1.1% ----- 100.0% International Small Cap Growth Portfolio Consumer Discretionary....................... 23.7% Consumer Staples............................. 6.5% Energy....................................... 5.6% Financials................................... 4.6% Health Care.................................. 8.5% Industrials.................................. 25.6% Information Technology....................... 13.3% Materials.................................... 6.8% Telecommunication Services................... 4.6% Utilities.................................... 0.8% ----- 100.0% 9 U.S. LARGE CAP GROWTH PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2013 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (81.5%) Consumer Discretionary -- (18.9%) * Amazon.com, Inc........................ 6,920 $ 2,519,088 1.1% Coach, Inc............................. 22,345 1,132,445 0.5% # Ford Motor Co.......................... 172,287 2,947,831 1.3% Home Depot, Inc. (The)................. 51,286 3,994,667 1.8% Lowe's Cos., Inc....................... 33,627 1,673,952 0.7% McDonald's Corp........................ 32,144 3,102,539 1.4% #* Michael Kors Holdings, Ltd............. 16,394 1,261,518 0.6% * O'Reilly Automotive, Inc............... 8,846 1,095,223 0.5% * priceline.com, Inc..................... 1,038 1,093,876 0.5% Ross Stores, Inc....................... 15,347 1,187,090 0.5% # Starbucks Corp......................... 17,200 1,394,060 0.6% TJX Cos., Inc.......................... 24,904 1,513,914 0.7% Twenty-First Century Fox, Inc. Class A. 34,630 1,180,190 0.5% Other Securities....................... 27,216,891 12.2% ----------- ----- Total Consumer Discretionary............... 51,313,284 22.9% ----------- ----- Consumer Staples -- (10.7%) Altria Group, Inc...................... 70,000 2,606,100 1.2% Coca-Cola Co. (The).................... 42,689 1,689,204 0.8% Colgate-Palmolive Co................... 31,081 2,011,873 0.9% # Kimberly-Clark Corp.................... 12,091 1,305,828 0.6% # Mead Johnson Nutrition Co.............. 14,431 1,178,435 0.5% PepsiCo, Inc........................... 35,906 3,019,336 1.4% Wal-Mart Stores, Inc................... 54,664 4,195,462 1.9% Other Securities....................... 13,128,361 5.7% ----------- ----- Total Consumer Staples..................... 29,134,599 13.0% ----------- ----- Energy -- (2.5%) Schlumberger, Ltd...................... 26,012 2,437,845 1.1% Other Securities....................... 4,376,553 2.0% ----------- ----- Total Energy............................... 6,814,398 3.1% ----------- ----- Financials -- (2.8%) American Express Co.................... 28,586 2,338,335 1.0% Moody's Corp........................... 16,074 1,135,789 0.5% Other Securities....................... 3,998,519 1.8% ----------- ----- Total Financials........................... 7,472,643 3.3% ----------- ----- Health Care -- (10.5%) # AbbVie, Inc............................ 55,361 2,682,240 1.2% AmerisourceBergen Corp................. 18,434 1,204,293 0.5% Amgen, Inc............................. 15,033 1,743,828 0.8% Eli Lilly & Co......................... 29,042 1,446,872 0.6% * Gilead Sciences, Inc................... 35,636 2,529,800 1.1% Johnson & Johnson...................... 67,574 6,258,028 2.8% McKesson Corp.......................... 7,184 1,123,147 0.5% Other Securities....................... 11,478,735 5.2% ----------- ----- Total Health Care.......................... 28,466,943 12.7% ----------- ----- Industrials -- (13.2%) 3M Co.................................. 15,117 1,902,474 0.8% # Boeing Co. (The)....................... 25,030 3,266,415 1.5% # Caterpillar, Inc....................... 30,155 2,513,721 1.1% 10 U.S. LARGE CAP GROWTH PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Industrials -- (Continued) Emerson Electric Co................................ 23,528 $ 1,575,670 0.7% Honeywell International, Inc....................... 15,486 1,343,101 0.6% # Lockheed Martin Corp............................... 9,506 1,267,530 0.6% # Rockwell Automation, Inc........................... 11,292 1,246,750 0.5% #* United Continental Holdings, Inc................... 38,278 1,299,538 0.6% # United Parcel Service, Inc. Class B................ 25,198 2,475,452 1.1% United Technologies Corp........................... 20,293 2,156,131 1.0% Other Securities................................... 16,632,741 7.4% ------------ ------ Total Industrials........................................ 35,679,523 15.9% ------------ ------ Information Technology -- (16.2%) Accenture P.L.C. Class A........................... 20,833 1,531,226 0.7% Apple, Inc......................................... 16,402 8,567,585 3.8% International Business Machines Corp............... 23,672 4,242,259 1.9% Mastercard, Inc. Class A........................... 3,677 2,636,777 1.2% Microsoft Corp..................................... 245,896 8,692,424 3.9% Oracle Corp........................................ 124,799 4,180,767 1.9% # Paychex, Inc....................................... 27,781 1,174,025 0.5% # Seagate Technology P.L.C........................... 38,013 1,850,473 0.8% Other Securities................................... 11,144,145 5.0% ------------ ------ Total Information Technology............................. 44,019,681 19.7% ------------ ------ Materials -- (5.6%) EI du Pont de Nemours & Co......................... 32,249 1,973,639 0.9% # Praxair, Inc....................................... 10,031 1,250,966 0.6% Other Securities................................... 11,962,704 5.3% ------------ ------ Total Materials.......................................... 15,187,309 6.8% ------------ ------ Telecommunication Services -- (0.9%) Other Securities................................... 2,409,124 1.1% ------------ ------ Utilities -- (0.2%) Other Securities................................... 485,335 0.2% ------------ ------ TOTAL COMMON STOCKS...................................... 220,982,839 98.7% ------------ ------ TEMPORARY CASH INVESTMENTS -- (1.2%) State Street Institutional Liquid Reserves, 0.073%. 3,139,207 3,139,207 1.4% ------------ ------ Shares/ Face Amount ------- - - (000) SECURITIES LENDING COLLATERAL -- (17.3%) (S)@ DFA Short Term Investment Fund..................... 4,064,092 47,021,543 21.0% ------------ ------ TOTAL INVESTMENTS -- (100.0%) (Cost $249,305,957).................................. $271,143,589 121.1% ============ ====== 11 U.S. LARGE CAP GROWTH PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): Investments in Securities (Market Value) --------------------------------------------- Level 1 Level 2 Level 3 Total ------------ ----------- ------- ------------ Common Stocks Consumer Discretionary...... $ 51,313,284 -- -- $ 51,313,284 Consumer Staples............ 29,134,599 -- -- 29,134,599 Energy...................... 6,814,398 -- -- 6,814,398 Financials.................. 7,472,643 -- -- 7,472,643 Health Care................. 28,466,943 -- -- 28,466,943 Industrials................. 35,679,523 -- -- 35,679,523 Information Technology...... 44,019,681 -- -- 44,019,681 Materials................... 15,187,309 -- -- 15,187,309 Telecommunication Services.. 2,409,124 -- -- 2,409,124 Utilities................... 485,335 -- -- 485,335 Temporary Cash Investments.... 3,139,207 -- -- 3,139,207 Securities Lending Collateral. -- $47,021,543 -- 47,021,543 ------------ ----------- -- ------------ TOTAL......................... $224,122,046 $47,021,543 -- $271,143,589 ============ =========== == ============ See accompanying Notes to Financial Statements. 12 U.S. SMALL CAP GROWTH PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2013 Percentage Shares Value+ of Net Assets** ------ ------ --------------- COMMON STOCKS -- (66.6%) Consumer Discretionary -- (16.3%) #* Bally Technologies, Inc........................ 8,612 $ 629,882 0.5% # Buckle, Inc. (The)............................. 12,177 595,942 0.5% #* Buffalo Wild Wings, Inc........................ 4,715 672,265 0.6% # Cheesecake Factory, Inc. (The)................. 18,039 852,343 0.7% #* Conn's, Inc.................................... 9,808 592,795 0.5% # Cracker Barrel Old Country Store, Inc.......... 6,492 713,276 0.6% #* Deckers Outdoor Corp........................... 9,018 620,709 0.5% * Express, Inc................................... 30,112 698,899 0.6% #* Lumber Liquidators Holdings, Inc............... 6,113 698,043 0.6% # Pool Corp...................................... 12,102 658,107 0.5% # Sinclair Broadcast Group, Inc. Class A......... 17,966 575,990 0.5% * Tenneco, Inc................................... 13,454 714,004 0.6% # Vail Resorts, Inc.............................. 9,162 645,463 0.5% Other Securities............................... 21,020,041 17.2% ----------- ----- Total Consumer Discretionary....................... 29,687,759 24.4% ----------- ----- Consumer Staples -- (3.4%) Casey's General Stores, Inc.................... 8,923 650,308 0.5% #* Fresh Market, Inc. (The)....................... 13,191 671,554 0.6% # Lancaster Colony Corp.......................... 7,114 590,391 0.5% Other Securities............................... 4,190,914 3.4% ----------- ----- Total Consumer Staples............................. 6,103,167 5.0% ----------- ----- Energy -- (1.7%) * PDC Energy, Inc................................ 9,713 658,638 0.5% Other Securities............................... 2,492,055 2.1% ----------- ----- Total Energy....................................... 3,150,693 2.6% ----------- ----- Financials -- (4.9%) * Altisource Portfolio Solutions SA.............. 4,397 691,560 0.6% # Bank of Hawaii Corp............................ 12,325 714,604 0.6% # Investors Bancorp, Inc......................... 24,995 592,632 0.5% MarketAxess Holdings, Inc...................... 9,012 587,853 0.5% Other Securities............................... 6,420,492 5.2% ----------- ----- Total Financials................................... 9,007,141 7.4% ----------- ----- Health Care -- (8.2%) #* Charles River Laboratories International, Inc.. 13,386 658,725 0.5% # Hill-Rom Holdings, Inc......................... 16,008 660,970 0.5% #* Medidata Solutions, Inc........................ 6,821 752,425 0.6% # Owens & Minor, Inc............................. 18,780 702,748 0.6% # STERIS Corp.................................... 14,836 670,439 0.6% #* Thoratec Corp.................................. 15,697 677,953 0.6% West Pharmaceutical Services, Inc.............. 13,062 631,548 0.5% Other Securities............................... 10,107,786 8.3% ----------- ----- Total Health Care.................................. 14,862,594 12.2% ----------- ----- Industrials -- (14.4%) # Con-way, Inc................................... 14,642 603,250 0.5% # Corporate Executive Board Co. (The)............ 8,078 588,886 0.5% # Deluxe Corp.................................... 13,749 647,440 0.5% # Harsco Corp.................................... 27,489 766,393 0.6% #* MasTec, Inc.................................... 27,352 874,443 0.7% 13 U.S. SMALL CAP GROWTH PORTFOLIO CONTINUED Percentage Shares Value+ of Net Assets** ------ ------ --------------- Industrials -- (Continued) #* Proto Labs, Inc.................................... 6,913 $ 579,724 0.5% # RR Donnelley & Sons Co............................. 34,343 637,750 0.5% * Spirit Airlines, Inc............................... 18,235 786,840 0.7% Other Securities................................... 20,730,925 17.1% ------------ ------ Total Industrials........................................ 26,215,651 21.6% ------------ ------ Information Technology -- (13.5%) #* Acxiom Corp........................................ 18,644 619,540 0.5% # Cognex Corp........................................ 19,266 602,062 0.5% Fair Isaac Corp.................................... 10,987 629,335 0.5% #* Finisar Corp....................................... 34,468 793,109 0.6% # j2 Global, Inc..................................... 12,999 714,685 0.6% # Mentor Graphics Corp............................... 31,074 686,114 0.6% #* Microsemi Corp..................................... 24,078 605,080 0.5% #* Riverbed Technology, Inc........................... 41,999 622,425 0.5% * Sapient Corp....................................... 46,955 742,359 0.6% #* Take-Two Interactive Software, Inc................. 34,387 615,871 0.5% #* Tyler Technologies, Inc............................ 7,401 715,751 0.6% #* Zebra Technologies Corp. Class A................... 16,366 790,641 0.6% Other Securities................................... 16,476,261 13.6% ------------ ------ Total Information Technology............................. 24,613,233 20.2% ------------ ------ Materials -- (3.7%) # KapStone Paper and Packaging Corp.................. 16,329 848,455 0.7% # Worthington Industries, Inc........................ 18,625 755,057 0.6% Other Securities................................... 5,055,873 4.2% ------------ ------ Total Materials.......................................... 6,659,385 5.5% ------------ ------ Telecommunication Services -- (0.5%) Other Securities................................... 948,544 0.8% ------------ ------ TOTAL COMMON STOCKS...................................... 121,248,167 99.7% ------------ ------ TEMPORARY CASH INVESTMENTS -- (0.5%) State Street Institutional Liquid Reserves, 0.073%. 913,953 913,953 0.8% ------------ ------ Shares/ Face Amount ------- - - (000) SECURITIES LENDING COLLATERAL -- (32.9%) (S)@ DFA Short Term Investment Fund..................... 5,166,092 59,771,690 49.1% ------------ ------ TOTAL INVESTMENTS -- (100.0%) (Cost $163,510,769).................................. $181,933,810 149.6% ============ ====== 14 U.S. SMALL CAP GROWTH PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): Investments in Securities (Market Value) --------------------------------------------- Level 1 Level 2 Level 3 Total ------------ ----------- ------- ------------ Common Stocks Consumer Discretionary...... $ 29,687,759 -- -- $ 29,687,759 Consumer Staples............ 6,103,167 -- -- 6,103,167 Energy...................... 3,150,693 -- -- 3,150,693 Financials.................. 9,007,141 -- -- 9,007,141 Health Care................. 14,862,594 -- -- 14,862,594 Industrials................. 26,215,651 -- -- 26,215,651 Information Technology...... 24,613,233 -- -- 24,613,233 Materials................... 6,659,385 -- -- 6,659,385 Telecommunication Services.. 948,544 -- -- 948,544 Temporary Cash Investments.... 913,953 -- -- 913,953 Securities Lending Collateral. -- $59,771,690 -- 59,771,690 ------------ ----------- -- ------------ TOTAL......................... $122,162,120 $59,771,690 -- $181,933,810 ============ =========== == ============ See accompanying Notes to Financial Statements. 15 INTERNATIONAL LARGE CAP GROWTH PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2013 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (93.4%) AUSTRALIA -- (6.7%) # BHP Billiton, Ltd. Sponsored ADR............. 13,910 $ 983,298 2.1% Brambles, Ltd................................ 33,694 295,791 0.6% CSL, Ltd..................................... 4,136 271,880 0.6% Insurance Australia Group, Ltd............... 37,958 221,671 0.5% Woolworths, Ltd.............................. 11,591 382,230 0.8% Other Securities............................. 1,045,621 2.3% ---------- ---- TOTAL AUSTRALIA.................................. 3,200,491 6.9% ---------- ---- AUSTRIA -- (0.3%) Other Securities............................. 124,041 0.3% ---------- ---- CANADA -- (8.8%) Canadian National Railway Co................. 3,142 345,400 0.7% Royal Bank of Canada......................... 6,899 463,475 1.0% * Valeant Pharmaceuticals International, Inc... 4,010 423,937 0.9% Other Securities............................. 2,975,883 6.4% ---------- ---- TOTAL CANADA..................................... 4,208,695 9.0% ---------- ---- CAYMAN ISLANDS -- (0.0%) Other Securities............................. 3,353 0.0% ---------- ---- FINLAND -- (0.6%) Other Securities............................. 281,464 0.6% ---------- ---- FRANCE -- (8.0%) Air Liquide SA............................... 1,814 246,547 0.5% Carrefour SA................................. 12,189 444,929 1.0% European Aeronautic Defence and Space Co. NV. 3,994 273,687 0.6% LVMH Moet Hennessy Louis Vuitton SA.......... 1,376 264,186 0.6% Other Securities............................. 2,640,648 5.6% ---------- ---- TOTAL FRANCE..................................... 3,869,997 8.3% ---------- ---- GERMANY -- (7.9%) BASF SE...................................... 4,145 430,311 0.9% Bayer AG..................................... 6,243 774,458 1.7% SAP AG....................................... 4,638 362,933 0.8% # SAP AG Sponsored ADR......................... 4,637 363,309 0.8% Siemens AG................................... 4,282 547,206 1.2% Other Securities............................. 1,328,985 2.7% ---------- ---- TOTAL GERMANY.................................... 3,807,202 8.1% ---------- ---- HONG KONG -- (2.6%) AIA Group, Ltd............................... 53,400 271,156 0.6% Other Securities............................. 996,057 2.1% ---------- ---- TOTAL HONG KONG.................................. 1,267,213 2.7% ---------- ---- IRELAND -- (0.1%) Other Securities............................. 69,003 0.1% ---------- ---- ISRAEL -- (0.3%) Other Securities............................. 152,651 0.3% ---------- ---- 16 INTERNATIONAL LARGE CAP GROWTH PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- ITALY -- (2.1%) Other Securities.............................. $ 998,867 2.1% ---------- ----- JAPAN -- (19.3%) Hoya Corp..................................... 9,600 230,202 0.5% Isuzu Motors, Ltd............................. 36,000 224,193 0.5% Japan Tobacco, Inc............................ 9,800 354,600 0.8% KDDI Corp..................................... 4,600 249,120 0.5% # Softbank Corp................................. 8,500 634,770 1.4% Toyota Motor Corp. Sponsored ADR.............. 7,062 913,964 2.0% Other Securities.............................. 6,678,842 14.2% ---------- ----- TOTAL JAPAN....................................... 9,285,691 19.9% ---------- ----- NETHERLANDS -- (2.4%) Reed Elsevier NV.............................. 10,861 218,356 0.5% Unilever NV................................... 7,946 315,023 0.7% Other Securities.............................. 612,354 1.3% ---------- ----- TOTAL NETHERLANDS................................. 1,145,733 2.5% ---------- ----- NEW ZEALAND -- (0.1%) Other Securities.............................. 56,929 0.1% ---------- ----- NORWAY -- (0.7%) Other Securities.............................. 314,136 0.7% ---------- ----- SINGAPORE -- (1.0%) Other Securities.............................. 485,137 1.0% ---------- ----- SPAIN -- (2.8%) * Telefonica SA................................. 39,188 689,682 1.5% Other Securities.............................. 670,683 1.4% ---------- ----- TOTAL SPAIN....................................... 1,360,365 2.9% ---------- ----- SWEDEN -- (2.5%) Hennes & Mauritz AB Class B................... 7,014 303,088 0.7% Sandvik AB.................................... 18,380 248,351 0.5% Other Securities.............................. 653,095 1.4% ---------- ----- TOTAL SWEDEN...................................... 1,204,534 2.6% ---------- ----- SWITZERLAND -- (8.1%) ABB, Ltd...................................... 18,435 469,679 1.0% Cie Financiere Richemont SA................... 4,142 423,518 0.9% Roche Holding AG.............................. 5,078 1,404,247 3.0% Swisscom AG................................... 445 226,975 0.5% Syngenta AG................................... 780 314,821 0.7% Other Securities.............................. 1,062,296 2.3% ---------- ----- TOTAL SWITZERLAND................................. 3,901,536 8.4% ---------- ----- UNITED KINGDOM -- (19.1%) AstraZeneca P.L.C. Sponsored ADR.............. 6,533 345,334 0.7% BAE Systems P.L.C............................. 59,941 437,239 0.9% BHP Billiton P.L.C. ADR....................... 4,890 301,420 0.6% British American Tobacco P.L.C. Sponsored ADR. 6,836 755,310 1.6% British Sky Broadcasting Group P.L.C.......... 19,219 288,765 0.6% BT Group P.L.C................................ 59,214 358,282 0.8% 17 INTERNATIONAL LARGE CAP GROWTH PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- UNITED KINGDOM -- (Continued) BT Group P.L.C. Sponsored ADR.................................... 5,435 $ 329,524 0.7% Centrica P.L.C................................................... 54,463 308,028 0.7% Compass Group P.L.C.............................................. 18,931 272,250 0.6% Diageo P.L.C. Sponsored ADR...................................... 2,909 371,159 0.8% GlaxoSmithKline P.L.C. Sponsored ADR............................. 18,134 954,392 2.0% Imperial Tobacco Group P.L.C..................................... 11,879 443,490 0.9% Next P.L.C....................................................... 2,908 253,947 0.5% Reckitt Benckiser Group P.L.C.................................... 3,433 266,947 0.6% Reed Elsevier P.L.C.............................................. 21,796 305,325 0.7% Unilever P.L.C. Sponsored ADR.................................... 5,980 242,728 0.5% Other Securities................................................. 2,936,124 6.4% ----------- ------ TOTAL UNITED KINGDOM................................................... 9,170,264 19.6% ----------- ------ TOTAL COMMON STOCKS.................................................... 44,907,302 96.1% ----------- ------ Shares/ Face Amount Value+ ------- ------ - (000) SECURITIES LENDING COLLATERAL -- (6.6%) (S)@ DFA Short Term Investment Fund................................... 259,291 3,000,000 6.4% @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $194,993 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $176,336) to be repurchased at $172,879............... $ 173 172,878 0.4% ----------- ------ TOTAL SECURITIES LENDING COLLATERAL.................................... 3,172,878 6.8% ----------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $43,543,518)................................................. $48,080,180 102.9% =========== ====== 18 INTERNATIONAL LARGE CAP GROWTH PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): Investments in Securities (Market Value) ------------------------------------------- Level 1 Level 2 Level 3 Total ----------- ----------- ------- ----------- Common Stocks................. Australia................... $ 983,298 $ 2,217,193 -- $ 3,200,491 Austria..................... -- 124,041 -- 124,041 Canada...................... 4,208,695 -- -- 4,208,695 Cayman Islands.............. -- 3,353 -- 3,353 Finland..................... -- 281,464 -- 281,464 France...................... -- 3,869,997 -- 3,869,997 Germany..................... 363,309 3,443,893 -- 3,807,202 Hong Kong................... -- 1,267,213 -- 1,267,213 Ireland..................... -- 69,003 -- 69,003 Israel...................... -- 152,651 -- 152,651 Italy....................... 254,801 744,066 -- 998,867 Japan....................... 982,732 8,302,959 -- 9,285,691 Netherlands................. -- 1,145,733 -- 1,145,733 New Zealand................. -- 56,929 -- 56,929 Norway...................... 37,203 276,933 -- 314,136 Singapore................... -- 485,137 -- 485,137 Spain....................... -- 1,360,365 -- 1,360,365 Sweden...................... -- 1,204,534 -- 1,204,534 Switzerland................. -- 3,901,536 -- 3,901,536 United Kingdom.............. 3,508,834 5,661,430 -- 9,170,264 Securities Lending Collateral. -- 3,172,878 -- 3,172,878 ----------- ----------- -- ----------- TOTAL......................... $10,338,872 $37,741,308 -- $48,080,180 =========== =========== == =========== See accompanying Notes to Financial Statements. 19 INTERNATIONAL SMALL CAP GROWTH PORTFOLIO SUMMARY SCHEDULE OF PORTFOLIO HOLDINGS October 31, 2013 Percentage Shares Value++ of Net Assets** ------ ------- --------------- COMMON STOCKS -- (89.4%) AUSTRALIA -- (5.4%) # JB Hi-Fi, Ltd............ 7,512 $ 154,806 0.4% Other Securities......... 2,526,472 5.7% ---------- ----- TOTAL AUSTRALIA.............. 2,681,278 6.1% ---------- ----- AUSTRIA -- (0.7%) Other Securities......... 371,238 0.8% ---------- ----- BELGIUM -- (0.6%) Other Securities......... 313,066 0.7% ---------- ----- CANADA -- (9.0%) # Cineplex, Inc............ 4,424 178,207 0.4% # Mullen Group, Ltd........ 6,454 172,948 0.4% Stantec, Inc............. 2,700 160,449 0.4% TransForce, Inc.......... 7,000 155,018 0.4% # Whitecap Resources, Inc.. 17,351 201,526 0.5% Other Securities......... 3,556,362 7.9% ---------- ----- TOTAL CANADA................. 4,424,510 10.0% ---------- ----- DENMARK -- (1.4%) * Topdanmark A.S........... 6,496 176,807 0.4% Other Securities......... 517,536 1.2% ---------- ----- TOTAL DENMARK................ 694,343 1.6% ---------- ----- FINLAND -- (2.3%) Elisa Oyj................ 10,301 258,079 0.6% Orion Oyj Class B........ 7,379 198,320 0.4% Other Securities......... 659,545 1.5% ---------- ----- TOTAL FINLAND................ 1,115,944 2.5% ---------- ----- FRANCE -- (3.7%) Eurofins Scientific...... 594 162,612 0.4% # Ingenico................. 2,769 208,003 0.5% # Neopost SA............... 2,613 197,284 0.5% Other Securities......... 1,277,429 2.8% ---------- ----- TOTAL FRANCE................. 1,845,328 4.2% ---------- ----- GERMANY -- (4.6%) Gerresheimer AG.......... 2,387 157,897 0.4% Software AG.............. 4,341 160,736 0.4% Stada Arzneimittel AG.... 4,810 276,487 0.6% Wincor Nixdorf AG........ 2,398 158,552 0.4% Other Securities......... 1,512,539 3.3% ---------- ----- TOTAL GERMANY................ 2,266,211 5.1% ---------- ----- HONG KONG -- (3.3%) VTech Holdings, Ltd...... 11,800 168,500 0.4% Other Securities......... 1,439,313 3.2% ---------- ----- TOTAL HONG KONG.............. 1,607,813 3.6% ---------- ----- 20 INTERNATIONAL SMALL CAP GROWTH PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- IRELAND -- (0.6%) Other Securities............... $ 284,473 0.6% ---------- ----- ISRAEL -- (0.6%) Other Securities............... 305,532 0.7% ---------- ----- ITALY -- (2.7%) Azimut Holding SpA............. 8,260 209,533 0.5% * Mediaset SpA................... 33,525 167,413 0.4% Other Securities............... 945,613 2.1% ---------- ----- TOTAL ITALY........................ 1,322,559 3.0% ---------- ----- JAPAN -- (19.8%) Other Securities............... 9,735,848 22.0% ---------- ----- NETHERLANDS -- (2.1%) Aalberts Industries NV......... 6,461 192,905 0.4% Nutreco NV..................... 4,782 233,771 0.5% * SBM Offshore NV................ 12,344 258,366 0.6% Other Securities............... 356,909 0.9% ---------- ----- TOTAL NETHERLANDS.................. 1,041,951 2.4% ---------- ----- NEW ZEALAND -- (0.7%) Other Securities............... 334,103 0.8% ---------- ----- NORWAY -- (1.3%) Other Securities............... 625,300 1.4% ---------- ----- PORTUGAL -- (0.8%) # Portugal Telecom SGPS SA....... 46,437 209,315 0.5% Other Securities............... 190,300 0.4% ---------- ----- TOTAL PORTUGAL..................... 399,615 0.9% ---------- ----- SINGAPORE -- (1.2%) Other Securities............... 593,986 1.3% ---------- ----- SPAIN -- (2.2%) Bolsas y Mercados Espanoles SA. 5,122 191,513 0.4% * Jazztel P.L.C.................. 14,290 156,516 0.4% Other Securities............... 713,418 1.6% ---------- ----- TOTAL SPAIN........................ 1,061,447 2.4% ---------- ----- SWEDEN -- (3.0%) JM AB.......................... 5,568 158,617 0.4% Other Securities............... 1,314,069 2.9% ---------- ----- TOTAL SWEDEN....................... 1,472,686 3.3% ---------- ----- SWITZERLAND -- (4.7%) * Dufry AG....................... 1,755 283,550 0.6% Galenica AG.................... 269 237,744 0.5% Georg Fischer AG............... 268 184,611 0.4% OC Oerlikon Corp. AG........... 12,149 169,845 0.4% Other Securities............... 1,422,877 3.3% ---------- ----- TOTAL SWITZERLAND.................. 2,298,627 5.2% ---------- ----- 21 INTERNATIONAL SMALL CAP GROWTH PORTFOLIO CONTINUED Percentage Shares Value++ of Net Assets** ------ ------- --------------- UNITED KINGDOM -- (18.7%) AMEC P.L.C....................................................... 16,952 $ 319,718 0.7% Ashtead Group P.L.C.............................................. 25,048 263,208 0.6% Cobham P.L.C..................................................... 58,973 272,355 0.6% Daily Mail & General Trust P.L.C................................. 14,174 184,869 0.4% * Dixons Retail P.L.C.............................................. 219,319 171,837 0.4% Essentra PLC..................................................... 12,868 161,788 0.4% G4S P.L.C........................................................ 65,120 273,524 0.6% Halma P.L.C...................................................... 27,252 239,369 0.5% Hays P.L.C....................................................... 98,436 196,468 0.4% Howden Joinery Group P.L.C....................................... 47,914 247,795 0.6% IG Group Holdings P.L.C.......................................... 22,282 218,987 0.5% Inmarsat P.L.C................................................... 27,254 314,558 0.7% Invensys P.L.C................................................... 28,294 227,049 0.5% Rightmove P.L.C.................................................. 6,219 264,272 0.6% Rotork P.L.C..................................................... 5,840 267,567 0.6% Spectris P.L.C................................................... 6,654 246,383 0.6% Spirax-Sarco Engineering P.L.C................................... 5,617 262,674 0.6% Telecity Group P.L.C............................................. 14,605 178,552 0.4% * Thomas Cook Group P.L.C.......................................... 97,142 223,579 0.5% UBM P.L.C........................................................ 17,280 189,156 0.4% Other Securities................................................. 4,497,572 10.2% ----------- ------ TOTAL UNITED KINGDOM................................................... 9,221,280 20.8% ----------- ------ TOTAL COMMON STOCKS.................................................... 44,017,138 99.4% ----------- ------ Shares/ Face Amount Value+ ------- ------ - (000) SECURITIES LENDING COLLATERAL -- (10.6%) (S)@ DFA Short Term Investment Fund................................... 432,152 5,000,000 11.3% @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $274,041 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $247,820) to be repurchased at $242,962............... $ 243 242,961 0.6% ----------- ------ TOTAL SECURITIES LENDING COLLATERAL.................................... 5,242,961 11.9% ----------- ------ TOTAL INVESTMENTS -- (100.0%) (Cost $44,184,365)................................................. $49,260,099 111.3% =========== ====== 22 INTERNATIONAL SMALL CAP GROWTH PORTFOLIO CONTINUED Summary of the Portfolio's investments as of October 31, 2013, based on their valuation inputs, is as follows (See Security Valuation Note): Investments in Securities (Market Value) ------------------------------------------ Level 1 Level 2 Level 3 Total ---------- ----------- ------- ----------- Common Stocks................. Australia................... -- $ 2,681,278 -- $ 2,681,278 Austria..................... -- 371,238 -- 371,238 Belgium..................... -- 313,066 -- 313,066 Canada...................... $4,424,510 -- -- 4,424,510 Denmark..................... -- 694,343 -- 694,343 Finland..................... -- 1,115,944 -- 1,115,944 France...................... -- 1,845,328 -- 1,845,328 Germany..................... -- 2,266,211 -- 2,266,211 Hong Kong................... 142 1,607,671 -- 1,607,813 Ireland..................... -- 284,473 -- 284,473 Israel...................... -- 305,532 -- 305,532 Italy....................... 87,039 1,235,520 -- 1,322,559 Japan....................... 18,656 9,717,192 -- 9,735,848 Netherlands................. -- 1,041,951 -- 1,041,951 New Zealand................. -- 334,103 -- 334,103 Norway...................... -- 625,300 -- 625,300 Portugal.................... -- 399,615 -- 399,615 Singapore................... -- 593,986 -- 593,986 Spain....................... -- 1,061,447 -- 1,061,447 Sweden...................... -- 1,472,686 -- 1,472,686 Switzerland................. -- 2,298,627 -- 2,298,627 United Kingdom.............. -- 9,221,280 -- 9,221,280 Securities Lending Collateral. -- 5,242,961 -- 5,242,961 ---------- ----------- -- ----------- TOTAL......................... $4,530,347 $44,729,752 -- $49,260,099 ========== =========== == =========== See accompanying Notes to Financial Statements. 23 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF ASSETS AND LIABILITIES OCTOBER 31, 2013 (Amounts in thousands, except share and per share amounts) International International U.S. Large Cap U.S. Small Cap Large Cap Small Cap Growth Growth Growth Growth Portfolio Portfolio Portfolio Portfolio* -------------- -------------- ------------- ------------- ASSETS: Investments at Value (including $45,896, $58,220, $2,884 and $5,603 of securities on loan, respectively)................... $220,983 $121,248 $44,907 $44,017 Temporary Cash Investments at Value & Cost..................... 3,139 914 -- -- Collateral Received from Securities on Loan at Value & Cost.... -- -- 173 243 Collateral from Securities on Loan Invested in Affiliate at Value & Cost.................................................. 47,022 59,772 3,000 5,000 Foreign Currencies at Value.................................... -- -- 45 149 Cash........................................................... -- -- 436 191 Receivables: Dividends, Interest and Tax Reclaims......................... 171 27 70 81 Securities Lending Income.................................... 6 10 4 5 Fund Shares Sold............................................. 2,138 121 1,674 54 From Advisor................................................. 16 -- 1 -- Deferred Offering Costs........................................ 5 5 5 5 Prepaid Expenses and Other Assets.............................. 40 27 15 27 -------- -------- ------- ------- Total Assets.............................................. 273,520 182,124 50,330 49,772 -------- -------- ------- ------- LIABILITIES: Payables: Upon Return of Securities Loaned............................. 47,022 59,772 3,173 5,243 Investment Securities Purchased.............................. 2,549 680 428 224 Fund Shares Redeemed......................................... 8 6 3 2 Due to Advisor............................................... -- 8 -- 11 Unrealized Loss on Foreign Currency Contracts.................. -- -- 1 -- Accrued Expenses and Other Liabilities......................... 37 24 17 18 -------- -------- ------- ------- Total Liabilities......................................... 49,616 60,490 3,622 5,498 -------- -------- ------- ------- NET ASSETS..................................................... $223,904 $121,634 $46,708 $44,274 ======== ======== ======= ======= NET ASSET VALUE, OFFERING AND REDEMPTION PRICE PER SHARE: Institutional Class Shares -- based on net assets of $223,904; $121,634; $46,708 and $44,274 and shares outstanding of 17,822,932; 9,028,870; 3,956,097 and 3,623,825, respectively.................................................. $ 12.56 $ 13.47 $ 11.81 $ 12.22 ======== ======== ======= ======= Investments at Cost............................................ $199,145 $102,825 $40,371 $38,941 ======== ======== ======= ======= Foreign Currencies at Cost..................................... $ -- $ -- $ 46 $ 150 ======== ======== ======= ======= NET ASSETS CONSIST OF: Paid-In Capital................................................ $201,705 $102,210 $42,061 $39,137 Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)..................................... 398 83 151 149 Accumulated Net Realized Gain (Loss)........................... (37) 918 (39) (88) Net Unrealized Foreign Exchange Gain (Loss).................... -- -- -- 1 Net Unrealized Appreciation (Depreciation)..................... 21,838 18,423 4,535 5,075 -------- -------- ------- ------- NET ASSETS..................................................... $223,904 $121,634 $46,708 $44,274 ======== ======== ======= ======= ---------- * See Note I in the Notes to Financial Statements for additional securities lending collateral. See accompanying Notes to Financial Statements. 24 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF OPERATIONS FOR THE PERIOD ENDED OCTOBER 31, 2013 (Amounts in thousands) International International U.S. Large U.S. Small Large Cap Small Cap Cap Growth Cap Growth Growth Growth Portfolio (a) Portfolio (a) Portfolio (a) Portfolio (a) ------------- ------------- ------------- ------------- Investment Income Dividends (Net of Foreign Taxes Withheld of $2, $0, $44 and $41, respectively).................................................... $ 1,519 $ 535 $ 569 $ 586 Interest.......................................................... 4 2 -- -- Income from Securities Lending.................................... 33 54 25 34 ------- ------- ------ ------ Total Investment Income........................................ 1,556 591 594 620 ------- ------- ------ ------ Fund Expenses Investment Advisory Services Fees................................. 148 186 51 102 Accounting & Transfer Agent Fees.................................. 11 11 16 16 Custodian Fees.................................................... 10 8 22 39 Filing Fees....................................................... 33 17 6 9 Shareholders' Reports............................................. 8 5 3 3 Directors'/Trustees' Fees & Expenses.............................. 1 -- -- -- Professional Fees................................................. 1 1 -- -- 30 30 30 30 Other............................................................. 3 3 5 4 ------- ------- ------ ------ Total Expenses................................................. 245 261 133 203 ------- ------- ------ ------ Fees (Waived), Expenses Reimbursed, and/or Previously Waived Fees Recovered by Advisor (Note C)............................... (70) (49) (71) (91) Fees Paid Indirectly.............................................. -- -- (1) (1) ------- ------- ------ ------ Net Expenses...................................................... 175 212 61 111 ------- ------- ------ ------ Net Investment Income (Loss)...................................... 1,381 379 533 509 ------- ------- ------ ------ Realized and Unrealized Gain (Loss) Net Realized Gain (Loss) on: Investment Securities Sold...................................... (38) 898 (39) (88) Futures......................................................... 1 20 -- -- Foreign Currency Transactions................................... -- -- (9) (7) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency...................... 21,838 18,423 4,535 5,075 Translation of Foreign Currency Denominated Amounts............. -- -- -- 1 ------- ------- ------ ------ Net Realized and Unrealized Gain (Loss)........................... 21,801 19,341 4,487 4,981 ------- ------- ------ ------ Net Increase (Decrease) in Net Assets Resulting from Operations......................................................... $23,182 $19,720 $5,020 $5,490 ======= ======= ====== ====== ---------- (a)The Portfolio commenced operations on December 20, 2012. See accompanying Notes to Financial Statements. 25 DFA INVESTMENT DIMENSIONS GROUP INC. STATEMENTS OF CHANGES IN NET ASSETS (Amounts in thousands) International International U.S. Large Cap U.S. Small Cap Large Cap Small Cap Growth Portfolio Growth Portfolio Growth Portfolio Growth Portfolio ---------------- ---------------- ---------------- ---------------- Period Period Period Period Dec. 20, Dec. 20, Dec. 20, Dec. 20, 2012 (a) 2012 (a) 2012 (a) 2012 (a) to to to to Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2013 2013 2013 ---------------- ---------------- ---------------- ---------------- Increase (Decrease) in Net Assets Operations: Net Investment Income (Loss)...................... $ 1,381 $ 379 $ 533 $ 509 Net Realized Gain (Loss) on: Investment Securities Sold...................... (38) 898 (39) (88) Futures......................................... 1 20 -- -- Foreign Currency Transactions................... -- -- (9) (7) Change in Unrealized Appreciation (Depreciation) of: Investment Securities and Foreign Currency...... 21,838 18,423 4,535 5,075 Translation of Foreign Currency Denominated Amounts........................................ -- -- -- 1 -------- -------- ------- ------- Net Increase (Decrease) in Net Assets Resulting from Operations..................... 23,182 19,720 5,020 5,490 -------- -------- ------- ------- Distributions From: Net Investment Income: Institutional Class Shares........................ (991) (304) (382) (361) -------- -------- ------- ------- Total Distributions............................ (991) (304) (382) (361) -------- -------- ------- ------- Capital Share Transactions (1): Shares Issued..................................... 220,963 108,051 42,798 39,725 Shares Issued in Lieu of Cash Distributions....... 986 304 381 360 Shares Redeemed................................... (20,236) (6,137) (1,109) (940) -------- -------- ------- ------- Net Increase (Decrease) from Capital Share Transactions.................................. 201,713 102,218 42,070 39,145 -------- -------- ------- ------- Total Increase (Decrease) in Net Assets........ 223,904 121,634 46,708 44,274 Net Assets Beginning of Period............................... -- -- -- -- -------- -------- ------- ------- End of Period..................................... $223,904 $121,634 $46,708 $44,274 ======== ======== ======= ======= (1) Shares Issued and Redeemed: Shares Issued..................................... 19,482 9,497 4,020 3,673 Shares Issued in Lieu of Cash Distributions....... 84 24 35 33 Shares Redeemed................................... (1,743) (492) (99) (82) -------- -------- ------- ------- Net Increase (Decrease) from Shares Issued and Redeemed.................................. 17,823 9,029 3,956 3,624 ======== ======== ======= ======= Undistributed Net Investment Income (Distributions in Excess of Net Investment Income)................................. $ 398 $ 83 $ 151 $ 149 ---------- Seepage 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 26 DFA INVESTMENT DIMENSIONS GROUP INC. FINANCIAL HIGHLIGHTS (for a share outstanding throughout each period) International International U.S. Large Cap U.S. Small Cap Large Cap Small Cap Growth Portfolio Growth Portfolio Growth Portfolio Growth Portfolio ---------------- ---------------- ---------------- ---------------- Period Period Period Period Dec. 20, Dec. 20, Dec. 20, Dec. 20, 2012 (a) 2012 (a) 2012 (a) 2012 (a) to to to to Oct. 31, Oct. 31, Oct. 31, Oct. 31, 2013 2013 2013 2013 -------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, Beginning of Period.............. $ 10.00 $ 10.00 $ 10.00 $ 10.00 -------- -------- ------- ------- Income from Investment Operations --------------------------------- Net Investment Income (Loss) (A)................. 0.16 0.07 0.24 0.24 Net Gains (Losses) on Securities (Realized and Unrealized).................................... 2.49 3.44 1.74 2.13 -------- -------- ------- ------- Total from Investment Operations............... 2.65 3.51 1.98 2.37 -------------------------------------------------------------------------------------------------------------------------------- Less Distributions ------------------ Net Investment Income............................ (0.09) (0.04) (0.17) (0.15) -------- -------- ------- ------- Total Distributions............................ (0.09) (0.04) (0.17) (0.15) -------------------------------------------------------------------------------------------------------------------------------- Net Asset Value, End of Period.................... $ 12.56 $ 13.47 $ 11.81 $ 12.22 ================================================= ================ ================ ================ ================ Total Return...................................... 26.58%(D) 35.17%(D) 19.98%(D) 23.83%(D) -------------------------------------------------------------------------------------------------------------------------------- Net Assets, End of Period (thousands)............. $223,904 $121,634 $46,708 $44,274 Ratio of Expenses to Average Net Assets........... 0.20%(B)(C) 0.40%(B)(C) 0.30%(B)(C) 0.55%(B)(C) Ratio of Expenses to Average Net Assets (Excluding Waivers and Assumptions of Expenses and/or Recovery of Previously Waived Fees)....... 0.28%(B)(C) 0.49%(B)(C) 0.65%(B)(C) 1.00%(B)(C) Ratio of Net Investment Income to Average Net Assets........................................... 1.59%(C) 0.71%(C) 2.60%(C) 2.50%(C) Portfolio Turnover Rate........................... 10%(D) 25%(D) 3%(D) 7%(D) -------------------------------------------------------------------------------------------------------------------------------- See page 1 for the Definitions of Abbreviations and Footnotes. See accompanying Notes to Financial Statements. 27 DFA INVESTMENT DIMENSIONS GROUP INC. NOTES TO FINANCIAL STATEMENTS A. Organization: DFA Investment Dimensions Group Inc. (the "Fund") is an open-end management investment company registered under the Investment Company Act of 1940, whose shares are generally offered to institutional investors, retirement plans and clients of registered investment advisors. The Fund offers seventy-six operational portfolios, four of which, U.S. Large Cap Growth Portfolio, U.S. Small Cap Growth Portfolio, International Large Cap Growth Portfolio and International Small Cap Growth Portfolio (the "Portfolios"), are included in this report. The remaining seventy-two portfolios are presented in separate reports. B. Significant Accounting Policies: The following significant accounting policies are in conformity with accounting principles generally accepted in the United States of America. Such policies are consistently followed by the Fund in preparation of its financial statements. The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the fair value of investments, the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates and those differences could be material. 1. Security Valuation: The Portfolios utilize a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels described below: . Level 1 - inputs are quoted prices in active markets for identical securities (including equity securities, open-end investment companies, futures contracts) . Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) . Level 3 - significant unobservable inputs (including the Portfolios' own assumptions in determining the fair value of investments) Securities held by U.S. Large Cap Growth Portfolio and U.S. Small Cap Growth Portfolio (the "Domestic Equity Portfolios") and International Large Cap Growth Portfolio and International Small Cap Growth Portfolio (the "International Equity Portfolios"), including over-the-counter securities, are valued at the last quoted sale price at the close of the exchanges on which they are principally traded (official closing price). International equity securities are subject to a fair value factor, as described later in this note. Securities held by the Domestic Equity Portfolios and the International Equity Portfolios that are listed on Nasdaq are valued at the Nasdaq Official Closing Price ("NOCP"). If there is no last reported sale price or NOCP for the day, the Domestic Equity Portfolios and the International Equity Portfolios value the securities at the mean of the most recent quoted bid and asked prices which approximate fair value. Price information on listed securities is taken from the exchange where the security is primarily traded. Generally, securities issued by open-end investment companies are valued using their respective net asset values or public offering prices, as appropriate, for purchase orders placed at the close of the New York Stock Exchange (NYSE). These securities are generally categorized as Level 1 in the hierarchy. Securities for which no market quotations are readily available (including restricted securities), or for which market quotations have become unreliable, are valued in good faith at fair value in accordance with procedures adopted by the Board of Directors/Trustees. Fair value pricing may also be used if events that have a significant effect on the value of an investment (as determined in the discretion of the Investment Committee of Dimensional Fund Advisors LP) occur before the net asset value is calculated. When fair value pricing is used, the prices of securities used by the Domestic Equity Portfolios and the International Equity Portfolios may differ from the quoted or published prices for the same securities on their primary markets or exchanges. These securities are generally categorized as Level 2 in the hierarchy. 28 The International Equity Portfolios will also apply a fair value price in the circumstances described below. Generally, trading in foreign securities markets is completed each day at various times prior to the close of the NYSE. For example, trading in the Japanese securities markets is completed each day at the close of the Tokyo Stock Exchange (normally, 11:00 p.m. PT), which is fourteen hours prior to the close of the NYSE (normally, 1:00 p.m. PT) and the time that the net asset values of the International Equity Portfolios are computed. Due to the time differences between the closings of the relevant foreign securities exchanges and the time the International Equity Portfolios price their shares at the close of the NYSE, the International Equity Portfolios will fair value their foreign investments when it is determined that the market quotations for the foreign investments are either unreliable or not readily available. The fair value prices will attempt to reflect the impact of the U.S. financial markets' perceptions and trading activities on the International Equity Portfolios' foreign investments since the last closing prices of the foreign investments were calculated on their primary foreign securities markets or exchanges. For these purposes, the Board of Directors/Trustees of the Fund have determined that movements in relevant indices or other appropriate market indicators, after the close of the Tokyo Stock Exchange or the London Stock Exchange, demonstrate that market quotations may be unreliable. Fair valuation of portfolio securities may occur on a daily basis. The fair value pricing by the International Equity Portfolios utilizes data furnished by an independent pricing service (and that data draws upon, among other information, the market values of foreign investments). When an International Equity Portfolio uses fair value pricing, the values assigned to the International Equity Portfolio's foreign investments may not be the quoted or published prices of the investments on their primary markets or exchanges. These securities are generally categorized as Level 2 in the hierarchy. Futures contracts held by the Portfolios are valued using the settlement price established each day on the exchange on which they are traded. These valuations are generally categorized as Level 1 in the hierarchy. A summary of the inputs used to value the Portfolios' investments by each major security type, industry and/or country is disclosed previously in this note. Valuation hierarchy tables have been included at the end of the Summary Schedules of Portfolio Holdings. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For the period ended October 31, 2013, there were no significant transfers between Level 1 and Level 2 and no Level 3 investments held by the Portfolios. 2. Foreign Currency Translation: Securities and other assets and liabilities of the International Equity Portfolios whose values are initially expressed in foreign currencies are translated to U.S. dollars using the mean between the most recent bid and asked prices for the U.S. dollar as quoted by generally recognized reliable sources. Dividend and interest income and certain expenses are translated to U.S. dollars at the rate of exchange on their respective accrual dates. Receivables and payables denominated in foreign currencies are marked-to-market daily based on daily exchange rates and exchange gains or losses are realized upon ultimate receipt or disbursement. The International Equity Portfolios do not isolate the effect of fluctuations in foreign exchange rates from the effect of fluctuations in the market prices of securities whether realized or unrealized. Realized gains or losses on foreign currency transactions represent net foreign exchange gains or losses from the disposition of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between amounts of interest, dividends and any foreign withholding taxes recorded on the books of the International Equity Portfolios and the U.S. dollar equivalent amounts actually received or paid. 3. Deferred Compensation Plan: Each eligible Director/Trustee of the Fund may elect participation in The Fee Deferral Plan for Independent Directors and Trustees (the "Plan"). Under the Plan, effective January 1, 2002, such Directors/Trustees may defer payment of all or a portion of their total fees earned as a Director/Trustee. These deferred amounts may be treated as though such amounts had been invested in shares of the following funds: U.S. Large Cap Value Portfolio; U.S. Core Equity 1 Portfolio; U.S. Core Equity 2 Portfolio; U.S. Vector Equity Portfolio; U.S. Micro Cap Portfolio; DFA International Value Portfolio; International Core Equity Portfolio; Emerging Markets Portfolio; Emerging Markets Core Equity Portfolio; and/or DFA Two-Year Global Fixed Income Portfolio. 29 Contributions made under the Plan and the change in unrealized appreciation (depreciation) and income are included in Directors'/Trustees' Fees & Expenses. Each Director/Trustee has the option to receive their distribution of proceeds in one of the following methods: lump sum; annual installments over a period of agreed upon years; or quarterly installments over a period of agreed upon years. Each Director/Trustee shall have the right in a notice of election (the "Notice") to defer the receipt of the Director's/Trustee's deferred compensation until a date specified by such Director/Trustee in the Notice, which date may not be sooner than the earlier of: (i) the first business day of January following the year in which such Director/Trustee ceases to be a member of the Board; and (ii) five years following the effective date of the Director's/Trustee's first deferral election. If a Director/Trustee who elects to defer fees fails to designate in the Notice a time or date as of which payment of the Director's/Trustee's deferred fee account shall commence, payment of such amount shall commence as of the first business day of January following the year in which the Director/Trustee ceases to be a member of the Board (unless the Director/Trustee files an amended Notice selecting a different distribution date). As of October 31, 2013, none of the Directors/Trustees have requested or received a distribution of proceeds of a deferred fee account. 4. Other: Security transactions are accounted for as of the trade date. Costs used in determining realized gains and losses on the sale of investment securities and foreign currency are on the basis of identified cost. Dividend income and distributions to shareholders are recorded on the ex-dividend date. Distributions received on securities that represent a return of capital or capital gains are recorded as a reduction of cost of investments or as a realized gain, respectively. The Portfolios estimate the character of distributions received that may be considered return of capital distributions. Interest income is recorded on an accrual basis. Expenses directly attributable to a Portfolio are directly charged. Common expenses of the Fund or Portfolios are allocated using methods approved by the Board, generally based on average net assets. The International Equity Portfolios may be subject to taxes imposed by countries in which they invest, with respect to their investments in issuers existing or operating in such countries. Such taxes are generally based on income earned or repatriated and capital gains realized on the sale of such investments. The International Equity Portfolios accrue such taxes when the related income or capital gains are earned or throughout the holding period. Some countries require governmental approval for the repatriation of investment income, capital or the proceeds of sales earned by foreign investors. In addition, if there is a deterioration in a country's balance of payments or for other reasons, a country may impose temporary restrictions on foreign capital remittances abroad. C. Investment Advisor: The Advisor, Dimensional Fund Advisors LP, provides investment advisory services to the Portfolios. For the period ended October 31, 2013, the Portfolios' investment advisory services fees were accrued daily and paid monthly to the Advisor based on the following effective annual rates of average daily net assets: U.S. Large Cap Growth Portfolio.......... 0.17% U.S. Small Cap Growth Portfolio.......... 0.35% International Large Cap Growth Portfolio. 0.25% International Small Cap Growth Portfolio. 0.50% Pursuant to a Fee Waiver and Expense Assumption Agreement, the Advisor has contractually agreed to waive all or a portion of its advisory fees, and in certain instances, assume certain expenses of the Portfolios, as described in the notes below. The Fee Waiver and Expense Assumption Agreement for the Portfolios below will remain in effect through February 28, 2014, and shall continue in effect from year to year thereafter unless terminated by the Fund or the Advisor. For the period ended October 31, 2013, the Portfolios had expense limits based on a percentage of average net assets on an annualized basis, and previously waived fees subject to future recovery by the Advisor as reflected below (amounts in thousands). The Advisor recovered previously waived fees and/or expenses assumed as listed below (amounts in thousands). The Fund, on behalf of the Portfolios, is not 30 obligated to reimburse the Advisor for fees previously waived or expenses previously assumed by the Advisor more than thirty-six months before the date of recovery. Previously Recovery Waived Fees/ of Previously Expenses Expense Waived Fees/ Assumed Limitation Expenses Subject to Future Institutional Class Shares Amount Assumed Recovery -------------------------- ---------- ------------- ----------------- U.S. Large Cap Growth Portfolio (1).......... 0.20% -- $70 U.S. Small Cap Growth Portfolio (1).......... 0.40% -- 49 International Large Cap Growth Portfolio (1). 0.30% -- 71 International Small Cap Growth Portfolio (1). 0.55% -- 91 (1) The Advisor has contractually agreed to waive all or a portion of its management fee and to assume the ordinary operating expenses of a class of each Portfolio (excluding the expenses that a Portfolio incurs indirectly through its investment in other investment companies and excluding any applicable 12b-1 fees) ("Portfolio Expenses") to the extent necessary to limit the Portfolio Expenses of a class of each Portfolio, on an annualized basis, to the rates listed above as a percentage of the respective Portfolio's average net assets (the "Expense Limitation Amount"). At any time that the Portfolio Expenses of a class of a Portfolio are less than the Expense Limitation Amount listed above for such class of shares of the Portfolio, the Advisor retains the right to seek reimbursement for any fees previously waived and/or expenses previously assumed to the extent that such reimbursement will not cause the annualized Portfolio Expenses for such class of shares of the Portfolio to exceed the Expense Limitation Amount. Earned Income Credit: In addition, the Portfolios have entered into arrangements with their custodian whereby net interest earned on uninvested cash balances was used to reduce a portion of the Portfolios' custody expenses. Custody expense in the accompanying financial statements is presented before reduction for credits. During the period ended October 31, 2013, expenses reduced were as follows (amounts in thousands): Fees Paid Indirectly - ---------- International Large Cap Growth Portfolio. $1 International Small Cap Growth Portfolio. 1 Fees Paid to Officers and Directors/Trustees: Certain Officers and Directors/Trustees of the Advisor are also Officers and Directors/Trustees of the Fund; however, such Officers and Directors/Trustees (with the exception of the Chief Compliance Officer ("CCO")) receive no compensation from the Fund. For the period ended October 31, 2013, the total related amounts paid by the Fund to the CCO were $250 (in thousands). The total related amounts paid by each of the Portfolios are included in Other Expenses on the Statement of Operations. D. Deferred Compensation: At October 31, 2013, the total liability for deferred compensation to Directors/Trustees is included in Accrued Expenses and Other Liabilities on the Statement of Assets and Liabilities as follows (amounts in thousands): U.S. Large Cap Growth Portfolio.......... $-- U.S. Small Cap Growth Portfolio.......... -- International Large Cap Growth Portfolio. -- International Small Cap Growth Portfolio. -- 31 E. Purchases and Sales of Securities: For the period ended October 31, 2013, the Portfolios made the following purchases and sales of investment securities, other than short-term securities and U.S. government securities (amounts in thousands): Purchases Sales - --------- ------- U.S. Large Cap Growth Portfolio.......... $210,356 $10,817 U.S. Small Cap Growth Portfolio.......... 119,103 16,162 International Large Cap Growth Portfolio. 41,250 837 International Small Cap Growth Portfolio. 40,661 1,608 There were no purchases or sales of long-term U.S. government securities. F. Federal Income Taxes: Each Portfolio has qualified and intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code for federal income tax purposes and to distribute substantially all of its taxable income and net capital gains to its shareholders. Accordingly, no provision has been made for federal income taxes. Distributions from net investment income and net realized capital gains are determined in accordance with U.S. federal income tax regulations, which may differ from those amounts determined under accounting principles generally accepted in the United States of America. These book/tax differences are either temporary or permanent in nature. To the extent these differences are permanent, they are charged or credited to paid-in capital, undistributed net investment income or accumulated net realized gains or losses, as appropriate, in the period that the differences arise. Accordingly, the following permanent differences as of October 31, 2013, primarily attributable to net foreign currency gains/losses, non-deductible organizational costs, 90 day stock issuance expense, non-deductible excise tax and realized gains on securities considered to be "passive foreign investment companies", were reclassified to the following accounts. The reclassifications had no effect on net assets or net asset value per share (amounts in thousands): Increase Increase (Decrease) (Decrease) Increase Undistributed Accumulated (Decrease) Net Investment Net Realized Paid-In Capital Income Gains (Losses) - --------------- -------------- -------------- US Large Cap Growth Portfolio............ $(8) $ 8 -- US Small Cap Growth Portfolio............ (8) 8 -- International Large Cap Growth Portfolio. (9) -- $ 9 International Small Cap Growth Portfolio. (8) 1 7 The tax character of dividends and distributions declared and paid during the years ended October 31, 2012 and October 31, 2013 were as follows (amounts in thousands): Net Investment Income and Short-Term Long-Term Capital Gains Capital Gains Total - -------------- ------------- ----- US Large Cap Growth Portfolio 2013..................................... $991 -- $991 US Small Cap Growth Portfolio 2013..................................... 304 -- 304 International Large Cap Growth Portfolio 2013..................................... 382 -- 382 International Small Cap Growth Portfolio 2013..................................... 361 -- 361 32 Each Portfolio commenced operations on December 20, 2012, and did not pay any distributions for the year ended October 31, 2012. At October 31, 2013, the components of distributable earnings (accumulated losses) were as follows (amounts in thousands): Undistributed Total Net Net Investment Distributable Income and Undistributed Capital Unrealized Earnings Short-Term Long-Term Loss Appreciation (Accumulated Capital Gains Capital Gains Carryfoward (Depreciation) Losses) - -------------- ------------- ----------- -------------- ------------- US Large Cap Growth Portfolio.. $399 -- $(26) $21,827 $22,200 US Small Cap Growth Portfolio.. 989 $12 -- 18,423 19,424 International Large Cap Growth Portfolio.................... 149 -- (40) 4,538 4,647 International Small Cap Growth Portfolio.................... 150 -- (87) 5,075 5,138 For federal income tax purposes, the Fund measures its capital loss carry forwards annually at October 31, its fiscal year end. Capital loss carryforwards may be carried forward and applied against future capital gains. Under the Regulated Investment Company Modernization Act of 2010, capital losses incurred by these Portfolios after October 31, 2011 will not be subject to expiration and will retain their character as either short-term or long-term capital losses. In addition, such losses must be utilized prior to the losses incurred in the years preceding enactment. As of October 31, 2013 the Portfolios had the following capital loss carryforwards available to offset future realized capital gains through the indicted expiration dates (amounts in thousands): Expires on October 31, ---------------------- Unlimited Total ---------------------- ----- US Large Cap Growth Portfolio............ $26 $26 International Large Cap Growth Portfolio. 40 40 International Small Cap Growth Portfolio. 87 87 During the year ended October 31, 2013, each Portfolio did not utilize capital loss carryforwards. At October 31, 2013, the total cost and aggregate gross unrealized appreciation (depreciation) of securities for federal income tax purposes were different from amounts reported for financial reporting purposes (amounts in thousands): Net Unrealized Federal Unrealized Unrealized Appreciation Tax Cost Appreciation Depreciation (Depreciation) -------- ------------ ------------ -------------- US Large Cap Growth Portfolio............ $249,317 $23,606 $(1,779) $21,827 US Small Cap Growth Portfolio............ 163,511 19,658 (1,235) 18,423 International Large Cap Growth Portfolio. 43,544 4,974 (437) 4,537 International Small Cap Growth Portfolio. 44,184 5,930 (854) 5,076 The difference between book basis and tax-basis unrealized appreciation (depreciation) is primarily attributable to the tax deferral of losses on wash sales and investments in passive foreign investment companies. Accounting for Uncertainty in Income Taxes sets forth a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken on a tax return. Management has analyzed each Portfolios' tax positions and has concluded that no additional provision for income tax is required in any Portfolio's financial statements. The Portfolios are not aware of any tax positions for which it is more likely than not that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. The Portfolios' federal tax returns for the prior year remain subject to examination by the Internal Revenue Service. 33 G. Financial Instruments: In accordance with the Portfolios' investment objectives and policies, the Portfolios may invest in certain financial instruments that have off-balance sheet risk in excess of the amounts recognized in the financial statements and concentrations of credit and market risk. These instruments and their significant corresponding risks are described below: 1. Repurchase Agreements: The Portfolios may purchase certain U.S. Government securities subject to the counterparty's agreement to repurchase them at an agreed upon date and price. The counterparty will be required on a daily basis to maintain the value of the collateral subject to the agreement at not less than the repurchase price (including accrued interest). The agreements are conditioned upon the collateral being deposited under the Federal Reserve book-entry system with the Portfolios' custodian or a third party sub-custodian. In the event of default or bankruptcy by the other party to the agreement, retention of the collateral may be subject to legal proceedings. 2. Foreign Market Risks: Investments in foreign markets may involve certain considerations and risks not typically associated with investments in the United States of America, including the possibility of future political and economic developments and the level of foreign governmental supervision and regulation of foreign securities markets. These markets are generally smaller, less liquid and more volatile than the major securities markets in the United States of America. Consequently, acquisition and disposition of international securities held by the Portfolios may be inhibited. Derivative Financial Instruments: Summarized below are the specific types of derivative instruments used by the Portfolios. 3. Futures Contracts: The Portfolios may enter into futures contracts to gain market exposure on uninvested cash pending investment in securities or to maintain liquidity to pay redemptions. Upon entering into a futures contract, the Portfolios deposit cash or pledge U.S. Government securities to a broker, equal to the minimum "initial margin" requirements of the exchange on which the contract is traded. Subsequent payments are received from or paid to the broker each day, based on the daily fluctuation in the market value of the contract. These receipts or payments are known as "variation margin" and are recorded daily by the Portfolios as unrealized gains or losses until the contracts are closed. When the contracts are closed, the Portfolios record a realized gain or loss, which is presented in the Statements of Operations as a net realized gain or loss on futures, equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed. Risks may arise upon entering into futures contracts from potential imperfect price correlations between the futures contracts and the underlying securities or indices, from the possibility of an illiquid secondary market for these instruments and from the possibility that the Portfolios could lose more than the initial margin requirements. The Portfolios entering into stock index futures are subject to equity price risk from those futures contracts. Counterparty credit risk related to exchange-traded futures is minimal because the exchange's clearinghouse, as counterparty to all exchange-traded futures, guarantees the futures against default. The following is a summary of the location on the Portfolios' Statements of Operations of realized gains and losses from the Portfolios' derivative instrument holdings through the year ended October 31, 2013: Derivative Type Location of Gain (Loss) on Derivatives Recognized in Income --------------- ----------------------------------------------------------- Equity contracts Net Realized Gain (Loss) on: Futures 34 The following is a summary of the realized gains and losses from the U.S. Large Cap Growth Portfolio's and U.S. Small Cap Growth Porfolio's derivative instrument holdings categorized by primary risk exposure through the period ended October 31, 2013 (amounts in thousands): Realized Gain (Loss) on Derivatives Recognized in Income -------------------------------- Equity Contracts -------------------------------- U.S. Large Cap Growth Portfolio. $ 1 U.S. Small Cap Growth Portfolio. 20 During the period ended October 31, 2013, U.S. Large Cap Growth Portfolio and U.S. Small Cap Growth Portfolio had limited activity in futures contracts. H. Line of Credit: The Fund, together with other Dimensional-advised portfolios, entered into a $250 million unsecured discretionary line of credit effective June 22, 2011 with The Bank of New York Mellon, which was terminated by The Bank of New York Mellon effective March 29, 2013. Prior to termination, each portfolio was permitted to borrow, subject to its investment limitations, up to a maximum of $250 million, as long as total borrowings under the line of credit did not exceed $250 million in the aggregate. Borrowings under the line of credit were charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio was individually, and not jointly, liable for its particular advances under the line of credit. There was no commitment fee on the unused portion of the line of credit. The Fund, together with other Dimensional-advised portfolios, has entered into a $500 million unsecured discretionary line of credit effective March 4, 2013 with its domestic custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. There is no commitment fee on the unused portion of the line of credit. The agreement for the discretionary line of credit may be terminated by either party at any time. The line of credit is scheduled to expire on March 3, 2014. The Fund, together with other Dimensional-advised portfolios, has also entered into an additional $500 million unsecured line of credit effective January 11, 2013 with its international custodian bank. Each portfolio is permitted to borrow, subject to its investment limitations, up to a maximum of $500 million, as long as total borrowings under the line of credit do not exceed $500 million in the aggregate. Each portfolio is individually, and not jointly, liable for its particular advances under the line of credit. Borrowings under the line of credit are charged interest at rates agreed upon by the parties at the time of borrowing. There is no commitment fee on the unused portion of the line of credit. The agreement for the line of credit expires on January 10, 2014. For the year ended October 31, 2013, borrowings by the Portfolios under the lines of credit were as follows (amounts in thousands, except percentages and days): Weighted Weighted Number of Interest Maximum Amount Average Average Loan Days Expense Borrowed During Interest Rate Balance Outstanding* Incurred the Period ------------- ------------ ------------ -------- --------------- U.S. Large Cap Growth Portfolio. 0.84% $1,397 15 -- $3,040 U.S. Small Cap Growth Portfolio. 0.87% 110 1 -- 110 * Number of Days Outstanding represents the total of single or consecutive days during the period ended October 31, 2013, that each Portfolio's available line of credit was utilized. 35 There were no outstanding borrowings by the Portfolios under the lines of credit as of October 31, 2013. I. Securities Lending: As of October 31, 2013, some of the Portfolios had securities on loan to brokers/dealers, for which each such Portfolio received cash collateral. In addition, International Small Cap Growth Portfolio received non-cash collateral consisting of short and/or long term U.S. Treasury securities with a market value of $678 (in thousands). Each Portfolio invests the cash collateral, as described below, and records a liability for the return of the collateral, during the period the securities are on loan. Loans of securities are expected at all times to be secured by collateral equal to at least (i) 100% of the current market value of the loaned securities with respect to securities of the U.S. government or its agencies, (ii) 102% of the current market value of the loaned securities with respect to U.S. securities, and (iii) 105% of the current market value of the loaned securities with respect to foreign securities. However, daily market fluctuations could cause the Portfolios' collateral to be lower or higher than the expected thresholds. If this were to occur, the collateral would be adjusted the next business day to ensure adequate collateralization. In the event of default or bankruptcy by the other party to the agreement, realization and/or retention of the collateral may be subject to legal proceedings. If the borrower fails to return loaned securities, and cash collateral being maintained by the borrower is insufficient to cover the value of loaned securities and provided such collateral insufficiency is not the result of investment losses, the lending agent has agreed to pay the amount of the shortfall to the Portfolio or, at the option of the lending agent, to replace the securities. Subject to their stated investment policies, each Portfolio will generally invest the cash collateral received for the loaned securities in The DFA Short Term Investment Fund (the "Money Market Series"), an affiliated registered money market fund advised by the Advisor for which the Advisor receives a management fee of 0.05% of the average daily net assets of the Money Market Series. Each Portfolio also may invest the cash collateral received for the loaned securities in securities of the U.S. government or its agencies, repurchase agreements collateralized by securities of the U.S. government or its agencies, and affiliated and unaffiliated registered and unregistered money market funds. For purposes of this paragraph, agencies include both agency debentures and agency mortgage-backed securities. However, dividend income received from loaned securities may not be eligible to be taxed at qualified dividend income rates. J. Indemnitees; Contractual Obligations: Under the Fund's organizational documents, its officers and directors are indemnified against certain liabilities arising out of the performance of their duties to the Fund. In the normal course of business, the Fund enters into contracts that contain a variety of representations and warranties which provide general indemnification. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund and/or its affiliates that have not yet occurred. However, based on experience, the Fund expects the risk of loss to be remote. K. Recently Issued Accounting Standards: In January 2013, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") No. 2013-01 "Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities" ("ASU 2013-01") which amended Accounting Standards Codification Subtopic 210-20, Balance Sheet Offsetting. ASU 2013-01 clarified the scope of ASU No. 2011-11 "Disclosures about Offsetting Assets and Liabilities" ("ASU 2011-11"). ASU 2011-11 requires an entity to disclose information about offsetting and related arrangements to enable users of that entity's financial statements to understand the effect of those arrangements on its financial position. ASU 2013-01 clarifies the scope of ASU 2011-11 as applying to derivatives accounted for in accordance with Topic 815, Derivatives and Hedging, including bifurcated embedded derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are offset either in accordance with other requirements of GAAP or subject to an enforceable master netting arrangement or similar agreement. ASU No. 2011-11 is effective for annual periods beginning on or after January 1, 2013, and interim periods within those annual periods. Management is evaluating any impact ASU No. 2011-11 may have on the financial statements. 36 L. Other: At October 31, 2013, the following number of shareholders held the following approximate percentages of the stated fund outstanding shares. One or more of the shareholders may be omnibus accounts, which typically hold shares for the benefit of several other underlying investors. Approximate Percentage Number of of Outstanding Shareholders Shares ------------ -------------- U.S. Large Cap Growth Portfolio.......... 3 95% U.S. Small Cap Growth Portfolio.......... 3 99% International Large Cap Growth Portfolio. 3 98% International Small Cap Growth Portfolio. 3 99% M. Subsequent Event Evaluations: Management has evaluated the impact of all subsequent events on the Portfolios and has determined that there are no subsequent events requiring recognition or disclosure in the financial statements. 37 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Shareholders of the Portfolios, as defined, and Board of Directors of DFA Investment Dimensions Group Inc: In our opinion, the accompanying statement of assets and liabilities, including the summary schedule of investments, and the related statements of operations and of changes in net assets and the financial highlights present fairly, in all material respects, the financial position of U.S. Large Cap Growth Portfolio, U.S. Small Cap Growth Portfolio, International Large Cap Growth Portfolio, and International Small Cap Growth Portfolio (constituting portfolios within DFA Investment Dimensions Group Inc., hereafter referred to as the "Portfolios") at October 31, 2013, the results of each of their operations for the period December 20, 2012 (commencement of operations) through October 31, 2013, the changes in each of their net assets and the financial highlights for the period December 20, 2012 (commencement of operations) through October 31, 2013, in conformity with accounting principles generally accepted in the United States of America. These financial statements and financial highlights (hereafter referred to as "financial statements") are the responsibility of the Portfolio's management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of securities at October 31, 2013 by correspondence with the custodians, brokers, and the transfer agent of the investee fund, provide a reasonable basis for our opinion. PricewaterhouseCoopers LLP Philadelphia, Pennsylvania December 20, 2013 38 FUND MANAGEMENT (Unaudited) Trustees/Directors Each Board of Trustees/Directors (each, the "Board" and collectively, the "Boards") of The DFA Investment Trust Company ("DFAITC"), DFA Investment Dimensions Group Inc. ("DFAIDG"), Dimensional Investment Group Inc. ("DIG") and Dimensional Emerging Markets Value Fund ("DEM") (each, the "Fund" and collectively, the "Funds") is responsible for establishing the Funds' policies and for overseeing the management of the Funds. The Trustees/Directors of the Funds, including all of the disinterested Trustees/Directors, have adopted written procedures to monitor potential conflicts of interest that might develop between portfolios of the Funds (the "Feeder Portfolios") that invest in certain series of DFAITC or DEM (the "Master Funds"). Each Board has three standing committees, an Audit Committee, a Nominating Committee, and an Investment Review Committee (the "Review Committee"). The Audit Committee is comprised of George M. Constantinides, Roger G. Ibbotson and Abbie J. Smith. Each member of the Audit Committee is a disinterested Trustee/Director. The Audit Committee oversees the Fund's accounting and financial reporting policies and practices, the Fund's internal controls, the Fund's financial statements and the independent audits thereof and performs other oversight functions as requested by the Board. The Audit Committee recommends the appointment of each Fund's independent registered certified public accounting firm and also acts as a liaison between the Fund's independent registered certified public accounting firm and the full Board. There were two Audit Committee meetings held during the fiscal year ended October 31, 2013. Each Board's Nominating Committee is comprised of George M. Constantinides, John P. Gould, Roger G. Ibbotson, Myron S. Scholes, Edward P. Lazear and Abbie J. Smith. Each member of the Nominating Committee is a disinterested Trustee/Director. The Nominating Committee for each Board makes recommendations for nominations of disinterested and interested members on the Board to the full Board. The Nominating Committee evaluates a candidate's qualification for Board membership and the independence of such candidate from the Advisor and other principal service providers. There was one Nominating Committee meeting held during the fiscal year ended October 31, 2013. Each Board's Review Committee consists of both interested and disinterested Trustees/Directors. The Review Committee is comprised of John P. Gould, Edward P. Lazear, Myron S. Scholes and Eduardo A. Repetto. The Review Committee assists the Board in carrying out its fiduciary duties with respect to the oversight of the Fund and its performance. At the request of the Board or the Advisor, the Review Committee may (i) review the design of possible new series of the Fund, (ii) review performance of existing portfolios of the Fund and discuss and recommend possible enhancements to the portfolios' investment strategies, (iii) review proposals by the Advisor to modify or enhance the investment strategies or policies of each portfolio, and (iv) consider issues relating to investment services for each portfolio of the Fund. The Review Committee was formed on December 17, 2010, and there were two Review Committee meetings held during the fiscal year ended October 31, 2013. Certain biographical information for each disinterested Trustee/Director and each interested Trustee/Director of the Funds is set forth in the tables below, including a description of each Trustee/Director's experience as a Trustee/ Director of the Funds and as a director or trustee of other funds, as well as other recent professional experience. The statements of additional information (together, "SAI") of the Funds include additional information about each Trustee/Director. You may obtain copies of the SAI and prospectus of each Fund advised by Dimensional Fund Advisors LP by calling collect (512) 306-7400 or by mailing a request to Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746. Prospectuses are also available at www.dimensional.com. 39 Name, Position Portfolios within the with the Fund, Term of Office/1/ and DFA Fund Complex/2/ Principal Occupation(s) During Past 5 Years and Address and Year of Birth Length of Service Overseen Other Directorships of Public Companies Held ------------------------------------------------------------------------------------------------------------------------------ Disinterested Trustees/Directors ------------------------------------------------------------------------------------------------------------------------------ George M. Constantinides Since Inception 106 portfolios in 4 Leo Melamed Professor of Finance, The University Director of DFAIDG and DIG. investment companies of Chicago Booth School of Business. Trustee of DFAITC and DEM. The University of Chicago Booth School of Business 5807 S. Woodlawn Avenue Chicago, IL 60637 1947 ------------------------------------------------------------------------------------------------------------------------------ John P. Gould Since Inception 106 portfolios in 4 Steven G. Rothmeier Distinguished Service Director of DFAIDG and DIG. investment companies Professor of Economics, The University of Chicago Trustee of DFAITC and DEM. Booth School of Business (since 1965). Member and The University of Chicago Chair, Competitive Markets Advisory Committee, Booth School of Business Chicago Mercantile Exchange (futures trading 5807 S. Woodlawn exchange) (since 2004). Formerly, Director of Avenue UNext, Inc. (1999-2006). Trustee, Harbor Fund Chicago, IL 60637 (registered investment company) (30 Portfolios) 1939 (since 1994). Formerly, Member of the Board of Milwaukee Mutual Insurance Company (1997-2010). ------------------------------------------------------------------------------------------------------------------------------ Roger G. Ibbotson Since Inception 106 portfolios in 4 Professor in Practice of Finance, Yale School of Director of DFAIDG and DIG. investment companies Management (since 1984). Chairman, CIO and Trustee of DFAITC and DEM. Partner, Zebra Capital Management, LLC (hedge Yale School of Management fund manager) (since 2001). Consultant to P.O. Box 208200 Morningstar, Inc. (since 2006). Formerly, New Haven, CT Chairman, Ibbotson Associates, Inc., Chicago, IL 06520-8200 (software data publishing and consulting) 1943 (1977-2006). Formerly, Director, BIRR Portfolio Analysis, Inc. (software products) (1990-2010). ------------------------------------------------------------------------------------------------------------------------------ Edward P. Lazear Since Inception 106 portfolios in 4 Morris Arnold Cox Senior Fellow, Hoover Director of DFAIDG and DIG. investment companies Institution (since 2002). Jack Steele Parker Trustee of DFAITC and DEM. Professor of Human Resources Management and Stanford University Graduate Economics, Graduate School of Business, Stanford School of Business University (since 1995). Cornerstone Research 518 Memorial Way (expert testimony and economic and financial Stanford, CA 94305-5015 analysis) (since 2009). Formerly, Chairman of the 1948 President George W. Bush's Council of Economic Advisers (2006-2009). Formerly, Council of Economic Advisors, State of California (2005-2006). Formerly, Commissioner, White House Panel on Tax Reform (2005). ------------------------------------------------------------------------------------------------------------------------------ Myron S. Scholes Since Inception 106 portfolios in 4 Frank E. Buck Professor Emeritus of Finance, Director of DFAIDG and DIG. investment companies Stanford University (since 1981). Formerly, Trustee of DFAITC and DEM. Chairman, Platinum Grove Asset Management, L.P. c/o Dimensional Fund (hedge fund) (formerly, Oak Hill Platinum Advisors, LP Partners) (1999-2009). Formerly, Managing 6300 Bee Cave Road Partner, Oak Hill Capital Management (private Building 1 equity firm) (until 2004). Director, American Austin, TX 78746 Century Fund Complex (registered investment 1941 companies) (40 Portfolios) (since 1980). Formerly, Director, Chicago Mercantile Exchange (2001-2008). ------------------------------------------------------------------------------------------------------------------------------ Abbie J. Smith Since Inception 106 portfolios in 4 Boris and Irene Stern Distinguished Service Director of DFAIDG and DIG. investment companies Professor of Accounting, The University of Trustee of DFAITC and DEM. Chicago Booth School of Business (since 1980). The University of Chicago Co-Director Investment Research, Fundamental Booth School of Business Investment Advisors (hedge fund) (since 2008). 5807 S. Woodlawn Director, HNI Corporation (formerly known as HON Avenue Industries Inc.) (office furniture) (since 2000). Chicago, IL 60637 Director, Ryder System Inc. (transportation, 1953 logistics and supply-chain management) (since 2003). Trustee, UBS Funds (4 investment companies within the fund complex) (52 portfolios) (since 2009). 40 Name, Position Portfolios within the Principal Occupation(s) During Past 5 with the Fund, Term of Office/1/ and DFA Fund Complex/2/ Years and Other Directorships of Public Address and Year of Birth Length of Service Overseen Companies Held -------------------------------------------------------------------------------------------------------------------- Interested Trustees/Directors* -------------------------------------------------------------------------------------------------------------------- David G. Booth Since Inception 106 portfolios in 4 Chairman, Director/Trustee, President, Chairman, Director, investment companies and Co-Chief Executive Officer (since Co-Chief Executive Officer January 2010) of Dimensional Holdings and President of DFAIDG and Inc., Dimensional Fund Advisors LP, DFA DIG. Chairman, Trustee, Securities LLC, DEM, DFAIDG, DIG and Co-Chief Executive Officer DFAITC. Director of Dimensional Fund and President of DFAITC and Advisors Ltd., Dimensional Funds PLC, DEM. Dimensional Funds II PLC, DFA Australia 6300 Bee Cave Road, Limited, Dimensional Cayman Commodity Building One Fund I Ltd., Dimensional Japan Ltd. and Austin, Texas 78746 Dimensional Advisors Ltd. Chairman, 1946 Director and Co-Chief Executive Officer of Dimensional Fund Advisors Canada ULC. President, Dimensional SmartNest (US) LLC. Limited Partner, Oak Hill Partners (since 2001) and VSC Investors, LLC (since 2007). Trustee, The University of Chicago. Trustee, University of Kansas Endowment Association. Formerly, Chief Executive Officer (until 2010) and Chief Investment Officer (2003-2007) of Dimensional Fund Advisors LP, DFA Securities LLC, DEM, DFAIDG, DIG , DFAITC, Dimensional Holdings Inc. Formerly, Chief Investment Officer of Dimensional Fund Advisors Ltd. Formerly, President and Chief Investment Officer of DFA Australia Limited. Formerly, Director, SA Funds (registered investment company). -------------------------------------------------------------------------------------------------------------------- Eduardo A. Repetto Since 2009 106 portfolios in 4 Co-Chief Executive Officer (since Director, Co-Chief Executive investment companies January 2010), Chief Investment Officer Officer and Chief Investment (since March 2007) and Director/Trustee Officer of DFAIDG and DIG. of Dimensional Holdings Inc., Trustee, Co-Chief Executive Dimensional Fund Advisors LP, DFA Officer and Chief Investment Securities LLC, DEM, DFAIDG, DIG, Officer of DFAITC and DEM. DFAITC and Dimensional Cayman Commodity 6300 Bee Cave Road, Fund I Ltd. Director, Co-Chief Building One Executive Officer, President and Chief Austin, TX 78746 Investment Officer of Dimensional Fund 1967 Advisors Canada ULC. Chief Investment Officer, Vice President and Director of DFA Australia Limited. Director of Dimensional Fund Advisors Ltd., Dimensional Funds PLC, Dimensional Funds II PLC, Dimensional Japan Ltd. and Dimensional Advisors Ltd., Formerly President of Dimensional Holdings Inc, Dimensional Fund Advisors LP, DFA Securities LLC, DEM, DFAIDG, DIG, DFAITC and Dimensional Fund Advisors Canada ULC. /1/ Each Trustee/Director holds office for an indefinite term until his or her successor is elected and qualified. /2/ Each Trustee/Director is a director or trustee of each of the four registered investment companies within the DFA Fund Complex, which includes the Funds. * Interested Trustees/Directors are described as such because they are deemed to be "interested persons," as that term is defined under the Investment Company Act of 1940, as amended, due to their positions with Dimensional Fund Advisors LP. 41 Officers The name, year of birth, information regarding positions with the Funds and the principal occupation for each officer of the Funds are set forth below. Each officer listed below holds the same office (except as otherwise noted) in the following entities: Dimensional Fund Advisors LP (prior to November 3, 2006, Dimensional Fund Advisors Inc.) ("Dimensional"), Dimensional Holdings Inc., DFA Securities LLC (prior to April 6, 2009, DFA Securities Inc.), DFAIDG, DIG, DFAITC and DEM (collectively, the "DFA Entities"). The address of each officer is: Dimensional Fund Advisors LP, 6300 Bee Cave Road, Building One, Austin, Texas 78746, unless otherwise indicated. Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years --------------------------------------------------------------------------------------------------------------------- Officers --------------------------------------------------------------------------------------------------------------------- April A. Aandal Since 2008 Vice President of all the DFA Entities. Vice President 1963 --------------------------------------------------------------------------------------------------------------------- Robyn G. Alcorta Since 2012 Vice President of all the DFA Entities. Formerly, Vice President Vice President Business Development at Capson Physicians Insurance Company 1974 (2010-2012); Vice President at Charles Schwab (2007-2010). --------------------------------------------------------------------------------------------------------------------- Darryl D. Avery Since 2005 Vice President of all the DFA Entities. Vice President 1966 --------------------------------------------------------------------------------------------------------------------- Arthur H. Barlow Since 1993 Vice President of all the DFA Entities. Director and Managing Vice President Director of DFAL (since September 2013). 1955 --------------------------------------------------------------------------------------------------------------------- Scott A. Bosworth Since 2007 Vice President of all the DFA Entities. Vice President 1968 --------------------------------------------------------------------------------------------------------------------- Valerie A. Brown Since 2001 Vice President and Assistant Secretary of all the DFA Entities, DFA Vice President and Assistant Australia Limited, Dimensional Fund Advisors Ltd., Dimensional Secretary Cayman Commodity Fund I Ltd., Dimensional Fund Advisors Pte. 1967 Ltd., Dimensional Hong Kong Limited. Director, Vice President and Assistant Secretary of Dimensional Fund Advisors Canada ULC. --------------------------------------------------------------------------------------------------------------------- David P. Butler Since 2007 Vice President of all the DFA Entities. Head of Global Financial Vice President Services of Dimensional (since 2008). 1964 --------------------------------------------------------------------------------------------------------------------- Douglas M. Byrkit Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (December 2010-January2012); Regional Director 1970 at Russell Investments (April 2006-December 2010). --------------------------------------------------------------------------------------------------------------------- James G. Charles Since 2011 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (2008-2010); Vice President, Client Portfolio 1956 Manager at American Century Investments (2001-2008). --------------------------------------------------------------------------------------------------------------------- Joseph H. Chi Since 2009 Vice President of all the DFA Entities. Co-Head of Portfolio Vice President Management of Dimensional (since March 2012). Sr. Portfolio 1966 Manager of Dimensional (since January 2012). Formerly, Portfolio Manager for Dimensional (October 2005-January 2012). --------------------------------------------------------------------------------------------------------------------- Stephen A. Clark Since 2004 Vice President of all the DFA Entities, DFA Australia Limited and Vice President Dimensional Fund Advisors Canada ULC. Head of Institutional, 1972 North America (since March 2012). Formerly, Head of Portfolio Management of Dimensional (January 2006-March 2012). --------------------------------------------------------------------------------------------------------------------- Matt B. Cobb Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since September 2011). Formerly, Vice President at 1971 MullinTBG 92005-2011). --------------------------------------------------------------------------------------------------------------------- Ryan Cooper Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since 2003). 1979 --------------------------------------------------------------------------------------------------------------------- Jeffrey D. Cornell Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (August 2002-January 2012). 1976 --------------------------------------------------------------------------------------------------------------------- 42 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years --------------------------------------------------------------------------------------------------------------------------- Robert P. Cornell Since 2007 Vice President of all the DFA Entities. Vice President 1949 --------------------------------------------------------------------------------------------------------------------------- George H. Crane Since 2010 Vice President of all the DFA Entities. Formerly, Senior Vice Vice President President and Managing Director at State Street Bank & Trust 1955 Company (2007-2008). --------------------------------------------------------------------------------------------------------------------------- Christopher S. Crossan Since 2004 Vice President and Global Chief Compliance Officer of all the DFA Vice President and Global Chief Entities, DFA Australia Limited, Dimensional Fund Advisors Ltd., Compliance Officer and Dimensional SmartNest (US) LLC. Chief Compliance Officer of 1965 Dimensional Fund Advisors Canada ULC. --------------------------------------------------------------------------------------------------------------------------- James L. Davis Since 1999 Vice President of all the DFA Entities. Vice President 1956 --------------------------------------------------------------------------------------------------------------------------- Robert T. Deere Since 1994 Vice President of all the DFA Entities, DFA Australia Limited and Vice President Dimensional Fund Advisors Canada ULC. 1957 --------------------------------------------------------------------------------------------------------------------------- Peter F. Dillard Since 2010 Vice President of all the DFA Entities. Research Associate for Vice President Dimensional (since August 2008). 1972 --------------------------------------------------------------------------------------------------------------------------- Robert W. Dintzner Since 2001 Vice President of all the DFA Entities. Vice President 1970 --------------------------------------------------------------------------------------------------------------------------- Richard A. Eustice Since 1998 Vice President and Assistant Secretary of all the DFA Entities and Vice President and Assistant DFA Australia Limited. Secretary 1965 --------------------------------------------------------------------------------------------------------------------------- Gretchen A. Flicker Since 2004 Vice President of all the DFA Entities. Vice President 1971 --------------------------------------------------------------------------------------------------------------------------- Jed S. Fogdall Since 2008 Vice President of all the DFA Entities. Co-Head of Portfolio Vice President Management of Dimensional (since March 2012). Sr. Portfolio 1974 Manager of Dimensional (since January 2012). --------------------------------------------------------------------------------------------------------------------------- Jeremy P. Freeman Since 2009 Vice President of all the DFA Entities. Senior Technology Manager Vice President for Dimensional (since June 2006). 1970 --------------------------------------------------------------------------------------------------------------------------- Mark R. Gochnour Since 2007 Vice President of all the DFA Entities. Vice President 1967 --------------------------------------------------------------------------------------------------------------------------- Tom M. Goodrum Since 2012 Vice President of all the DFA Entities. Formerly, Managing Director Vice President at BlackRock (2004-January 2012). 1968 --------------------------------------------------------------------------------------------------------------------------- Henry F. Gray Since 2000 Vice President of all the DFA Entities. Vice President 1967 --------------------------------------------------------------------------------------------------------------------------- John T. Gray Since 2007 Vice President of all the DFA Entities. Vice President 1974 --------------------------------------------------------------------------------------------------------------------------- Christian Gunther Since 2011 Vice President of all the DFA Entities. Senior Trader for Vice President Dimensional (since 2012). Formerly, Senior Trader for Dimensional 1975 Fund Advisors Ltd. (2009-2012); Trader for Dimensional Fund Ltd. (2008-2009); Trader for Dimensional (2004-2008). --------------------------------------------------------------------------------------------------------------------------- Joel H. Hefner Since 2007 Vice President of all the DFA Entities. Vice President 1967 --------------------------------------------------------------------------------------------------------------------------- Julie C. Henderson Since 2005 Vice President and Fund Controller of all the DFA Entities, Vice President and Fund Controller Dimensional Cayman Commodity Fund I Ltd. and Dimensional 1974 Japan Ltd. --------------------------------------------------------------------------------------------------------------------------- 43 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years ---------------------------------------------------------------------------------------------------------------------- Kevin B. Hight Since 2005 Vice President of all the DFA Entities. Vice President 1967 ---------------------------------------------------------------------------------------------------------------------- Christine W. Ho Since 2004 Vice President of all the DFA Entities. Vice President 1967 ---------------------------------------------------------------------------------------------------------------------- Michael C. Horvath Since 2011 Vice President of all the DFA Entities. Formerly, Managing Director, Vice President Co-Head Global Consultant Relations at BlackRock (2004-2011). 1960 ---------------------------------------------------------------------------------------------------------------------- William A. Irvine Since 2013 Vice President of all the DFA Entities, Regional Director For Vice President Dimensional (since 2012). Formerly, Vice President of Institutional 1957 Business Development at Eaton Vance (2005-2011). ---------------------------------------------------------------------------------------------------------------------- Jeff J. Jeon Since 2004 Vice President of all the DFA Entities and Dimensional Cayman Vice President Commodity Fund I Ltd. 1973 ---------------------------------------------------------------------------------------------------------------------- Stephen W. Jones Since 2012 Vice President of all the DFA Entities. Formerly, Facilities Manager Vice President for Dimensional (October 2008-January 2012). 1968 ---------------------------------------------------------------------------------------------------------------------- Patrick M. Keating Since 2003 Vice President and Chief Operating Officer of all the DFA Entities, Vice President Dimensional Cayman Commodity Fund I Ltd., Dimensional Japan 1954 Ltd., Dimensional Advisors Ltd., Dimensional Hong Kong Limited and Chief Operating Officer of Dimensional. Director, Vice President and Chief Privacy Officer of Dimensional Fund Advisors Canada ULC. Director of DFA Australia Limited, Dimensional Fund Advisors Ltd., Dimensional Japan Ltd. and Dimensional Advisors Ltd. Director and Vice President of Dimensional Hong Kong Limited and Dimensional Fund Advisors Pte. Ltd. ---------------------------------------------------------------------------------------------------------------------- Andrew K. Keiper Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since October 2004). 1977 ---------------------------------------------------------------------------------------------------------------------- Glenn E. Kemp Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional Fund Advisors LP (April 2006-January 2012). 1948 ---------------------------------------------------------------------------------------------------------------------- David M. Kershner Since 2010 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since June 2004). 1971 ---------------------------------------------------------------------------------------------------------------------- Timothy R. Kohn Since 2011 Vice President of all the DFA Entities. Head of Defined Contribution Vice President Sales for Dimensional (since August 2010). Formerly, Chief DC 1971 Strategist, Barclays Global Investors (2005-2009). ---------------------------------------------------------------------------------------------------------------------- Joseph F. Kolerich Since 2004 Vice President of all the DFA Entities. Sr. Portfolio Manager of Vice President Dimensional (since January 2012).Formerly, Portfolio Manager for 1971 Dimensional (April 2001-January 2012). ---------------------------------------------------------------------------------------------------------------------- Mark D. Krasniewski Since 2013 Vice President of all the DFA Entities. Formerly, Senior Associate Vice President Investment Analytics and Data for Dimensional (January 2012- 1981 December 2012); Systems Developer for Dimensional (June 2007- December 2011). ---------------------------------------------------------------------------------------------------------------------- Stephen W. Kurad Since 2011 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (2007-2010). 1968 ---------------------------------------------------------------------------------------------------------------------- Michael F. Lane Since 2004 Vice President of all the DFA Entities. Chief Executive Officer of Vice President Dimensional SmartNest (US) LLC (since 2012). 1967 ---------------------------------------------------------------------------------------------------------------------- Francis R. Lao Since 2011 Vice President of all the DFA Entities. Formerly, Vice President - Vice President Global Operations at Janus Capital Group (2005-2011). 1969 ---------------------------------------------------------------------------------------------------------------------- David F. LaRusso Since 2013 Vice President of all the DFA Entities. Formerly, Senior Trader for Vice President Dimensional (January 2010-December 2012); Trader for 1978 Dimensional (2000-2009). ---------------------------------------------------------------------------------------------------------------------- 44 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years ----------------------------------------------------------------------------------------------------------------- Juliet H. Lee Since 2005 Vice President of all the DFA Entities. Vice President 1971 ----------------------------------------------------------------------------------------------------------------- Marlena I. Lee Since 2011 Vice President of all the DFA Entities. Formerly, Vice President Research Associate for Dimensional (July 1980 2008-2010). ----------------------------------------------------------------------------------------------------------------- John B. Lessley Since 2013 Vice President of all the DFA Entities. Regional Vice President Director for Dimensional (since January 2008). 1960 ----------------------------------------------------------------------------------------------------------------- Apollo D. Lupescu Since 2009 Vice President of all the DFA Entities. Regional Vice President Director for Dimensional (since February 2004). 1969 ----------------------------------------------------------------------------------------------------------------- Kenneth M. Manell Since 2010 Vice President of all the DFA Entities and Vice President Dimensional Cayman Commodity Fund I Ltd. Counsel 1972 for Dimensional (since September 2006). ----------------------------------------------------------------------------------------------------------------- Rose C. Manziano Since 2013 Vice President of all the DFA Entities. Regional Vice President Director for Dimensional (Since August 2010). 1971 Formerly, Vice President, Sales and Business Development at AdvisorsIG (PPMG) (2009- 2010); Vice President at Credit Suisse (2007-2009). ----------------------------------------------------------------------------------------------------------------- Aaron M. Marcus Since 2008 Vice President of all the DFA Entities and Head Vice President & Head of Global of Global Human Resources of Dimensional. Human Resources 1970 ----------------------------------------------------------------------------------------------------------------- David R. Martin Since 2007 Vice President, Chief Financial Officer and Vice President, Chief Financial Officer Treasurer of all the DFA Entities. Director, Vice and Treasurer President, Chief Financial Officer and Treasurer 1956 of Dimensional Fund Advisors Ltd., DFA Australia Limited, Dimensional Advisors Ltd., Dimensional Fund Advisors Pte. Ltd., Dimensional Hong Kong Limited and Dimensional Fund Advisors Canada ULC. Chief Financial Officer, Treasurer, and Vice President of Dimensional SmartNest (US) LLC, and Dimensional Cayman Commodity Fund I Ltd. Director of Dimensional Funds PLC and Dimensional Funds II PLC. Statutory Auditor of Dimensional Japan Ltd. ----------------------------------------------------------------------------------------------------------------- Matthew H. Miller Since 2013 Vice President of all the DFA Entities. Client Vice President Service Manager for Dimensional (Since 2012). 1978 Formerly, Regional Director for Dimensional (2008-2011; Senior Associate at Dimensional (2007-2010). ----------------------------------------------------------------------------------------------------------------- Jonathan G. Nelson Since 2013 Vice President of all the DFA Entities. Manager, Vice President Investment Systems at Dimensional (Since 2011). 1971 Formerly, Project Manager for Dimensional (2007-2010). ----------------------------------------------------------------------------------------------------------------- Catherine L. Newell Vice President since Vice President and Secretary of all the DFA Vice President and Secretary 1997 and Secretary Entities. Director, Vice President and Secretary 1964 since 2000 of DFA Australia Limited and Dimensional Fund Advisors Ltd. (since February 2002, April 1997 and May 2002, respectively). Vice President and Secretary of Dimensional Fund Advisors Canada ULC (since June 2003), Dimensional SmartNest (US) LLC, Dimensional Cayman Commodity Fund I Ltd., Dimensional Japan Ltd. (since February 2012), Dimensional Advisors Ltd. (since March 2012), Dimensional Fund Advisors Pte. Ltd. (since June 2012) and Dimensional Hong Kong Limited (since August 2012). Director, Dimensional Funds PLC and Dimensional Funds II PLC (since 2002 and 2006, respectively). Director of Dimensional Japan Ltd., Dimensional Advisors Ltd., Dimensional Fund Advisors Pte. Ltd. and Dimensional Hong Kong Limited (since August 2012 and July 2012). ----------------------------------------------------------------------------------------------------------------- Pamela B. Noble Since 2011 Vice President of all the DFA Entities. Portfolio Vice President Manager for Dimensional (2008-2010). 1964 ----------------------------------------------------------------------------------------------------------------- Selwyn J. Notelovitz Since 2012 Vice President of all DFA Entities. Deputy Chief Vice President Compliance Officer of Dimensional (since December 1961 2012). Formerly Chief Compliance Officer of Wellington Management Company, LLP (2004-2011). ----------------------------------------------------------------------------------------------------------------- 45 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years ----------------------------------------------------------------------------------------------------------------------- Carolyn L. O Since 2010 Vice President of all the DFA Entities and Dimensional Cayman Vice President Commodity Fund I Ltd. Deputy General Counsel, Funds (since 1974 2011). Counsel for Dimensional (2007-2011). ----------------------------------------------------------------------------------------------------------------------- Gerard K. O'Reilly Since 2007 Vice President of all the DFA Entities. Vice President 1976 ----------------------------------------------------------------------------------------------------------------------- Daniel C. Ong Since 2009 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since July 2005). 1973 ----------------------------------------------------------------------------------------------------------------------- Kyle K. Ozaki Since 2010 Vice President of all the DFA Entities. Senior Compliance Officer for Vice President Dimensional (since January 2008). Formerly, Compliance Officer 1978 (February 2006-December 2007). ----------------------------------------------------------------------------------------------------------------------- Matthew A. Pawlak Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional Fund Advisors LP (since 2012). Formerly, Senior 1977 Consultant at Hewitt EnnisKnupp (June 2011-December 2011); Senior Investment Analyst and Consultant at Hewitt EnnisKnupp (July 2008-June 2011). ----------------------------------------------------------------------------------------------------------------------- Brian P. Pitre Since 2013 Vice President of all the DFA Entities. Counsel for Dimensional Vice President Fund Advisors LP (since 2009). Formerly, Vice President and 1976 Corporate Counsel at Mellon Capital Management (2006-2008). ----------------------------------------------------------------------------------------------------------------------- David A. Plecha Since 1993 Vice President of all the DFA Entities, DFA Australia Limited, Vice President Dimensional Fund Advisors Ltd. and Dimensional Fund Advisors 1961 Canada ULC. ----------------------------------------------------------------------------------------------------------------------- Allen Pu Since 2011 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since July 2006). 1970 ----------------------------------------------------------------------------------------------------------------------- Theodore W. Randall Since 2008 Vice President of all the DFA Entities. Formerly, Research Vice President Associate of Dimensional (2006-2008). 1973 ----------------------------------------------------------------------------------------------------------------------- Mark A. Regier Since 2013 Vice President of all the DFA Entities. Planning and Analysis Vice President Manager for Dimensional (since July 2007). 1969 ----------------------------------------------------------------------------------------------------------------------- Savina B. Rizova Since 2012 Vice President of all the DFA Entities. Formerly, Research Vice President Associate for Dimensional (June 2011-January 2012); Research 1981 Assistant for Dimensional (July 2004-August 2007). ----------------------------------------------------------------------------------------------------------------------- L. Jacobo Rodriguez Since 2005 Vice President of all the DFA Entities. Vice President 1971 ----------------------------------------------------------------------------------------------------------------------- Julie A. Saft Since 2010 Vice President of all the DFA Entities. Client Systems Manager for Vice President Dimensional (since July 2008). 1959 ----------------------------------------------------------------------------------------------------------------------- Walid A. Shinnawi Since 2010 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (March 2006-January 2010). 1961 ----------------------------------------------------------------------------------------------------------------------- Bruce A. Simmons Since 2009 Vice President of all the DFA Entities. Investment Operations Vice President Manager for Dimensional (since May 2007). 1965 ----------------------------------------------------------------------------------------------------------------------- Ted R. Simpson Since 2007 Vice President of all the DFA Entities. Vice President 1968 ----------------------------------------------------------------------------------------------------------------------- Bryce D. Skaff Since 2007 Vice President of all the DFA Entities. Vice President 1975 ----------------------------------------------------------------------------------------------------------------------- Andrew D. Smith Since 2011 Vice President of all the DFA Entities. Project Manager for Vice President Dimensional (2007-2010). 1968 ----------------------------------------------------------------------------------------------------------------------- Grady M. Smith Since 2004 Vice President of all the DFA Entities and Dimensional Fund Vice President Advisors Canada ULC. 1956 ----------------------------------------------------------------------------------------------------------------------- 46 Term of Office/1/ Name, Position with the Fund and Length of and Year of Birth Service Principal Occupation(s) During Past 5 Years --------------------------------------------------------------------------------------------------------------------- Carl G. Snyder Since 2000 Vice President of all the DFA Entities. Vice President 1963 --------------------------------------------------------------------------------------------------------------------- Lawrence R. Spieth Since 2004 Vice President of all the DFA Entities. Vice President 1947 --------------------------------------------------------------------------------------------------------------------- Bradley G. Steiman Since 2004 Vice President of all the DFA Entities and Director and Vice Vice President President of Dimensional Fund Advisors Canada ULC. 1973 --------------------------------------------------------------------------------------------------------------------- Richard H. Tatlow Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since April 2010). Formerly, Principal, Investment 1971 Strategist at Barclays Global Investors (2004-2009). --------------------------------------------------------------------------------------------------------------------- Blake T. Tatsuta Since 2013 Vice President of all the DFA Entities, Manager, Investment Vice President Analytics and Data for Dimensional (since 2012). Formerly, 1973 Research Assistant at Dimensional (2002-2011). --------------------------------------------------------------------------------------------------------------------- Erik T. Totten Since 2013 Vice President of all the DFA Entities. Regional Director for Vice President Dimensional (since 2010). Formerly, Senior Associate at 1980 Dimensional (2007-2009). --------------------------------------------------------------------------------------------------------------------- John H. Totten Since 2012 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (January 2008-January 2012). 1978 --------------------------------------------------------------------------------------------------------------------- Robert C. Trotter Since 2009 Vice President of all the DFA Entities. Senior Manager, Technology Vice President for Dimensional (since March 2007). 1958 --------------------------------------------------------------------------------------------------------------------- Karen E. Umland Since 1997 Vice President of all the DFA Entities, DFA Australia Limited, Vice President Dimensional Fund Advisors Ltd., and Dimensional Fund Advisors 1966 Canada ULC. --------------------------------------------------------------------------------------------------------------------- Brian J. Walsh Since 2009 Vice President of all the DFA Entities. Portfolio Manager for Vice President Dimensional (since 2004). 1970 --------------------------------------------------------------------------------------------------------------------- Weston J. Wellington Since 1997 Vice President of all the DFA Entities. Vice President 1951 --------------------------------------------------------------------------------------------------------------------- Ryan J. Wiley Since 2007 Vice President of all the DFA Entities. Vice President 1976 --------------------------------------------------------------------------------------------------------------------- Paul E. Wise Since 2005 Vice President of all the DFA Entities. Vice President 1955 --------------------------------------------------------------------------------------------------------------------- Joseph L. Young Since 2011 Vice President of all the DFA Entities. Formerly, Regional Director Vice President for Dimensional (2005-2010). 1978 /1/ Each officer holds office for an indefinite term at the pleasure of the Boards of Trustees/Directors and until his or her successor is elected and qualified. 47 VOTING PROXIES ON FUND PORTFOLIO SECURITIES A description of the policies and procedures that the Fund uses in voting proxies relating to securities held in the portfolio is available without charge, upon request, by calling collect: (512) 306-7400. Information regarding how the Advisor votes these proxies is available from the EDGAR database on the SEC's website at http://www.sec.gov and from the Advisor's website at http://www.dimensional.com and reflects the twelve-month period beginning July 1st and ending June 30th. 48 NOTICE TO SHAREHOLDERS (Unaudited) For shareholders that do not have an October 31, 2013 tax year end, this notice is for informational purposes only. For shareholders with an October 31, 2013 tax year end, please consult your tax advisor as to the pertinence of this notice. For the fiscal year November 1, 2012 to October 31, 2013, each Portfolio is designating the following items with regard to distributions paid during the fiscal year. All designations are based on financial information available as of the date of this annual report and, accordingly are subject to change. For each item, it is the intention of the Portfolio to designate the maximum amount permitted under the Internal Revenue Code and the regulations thereunder. Net Investment Short-Term Long-Term Dividends Qualifying Income Capital Gain Capital Gain Total Received Dividend DFA Investment Dimensions Group Inc. Distributions Distributions Distributions Distributions Deduction (1) Income (2) ------------------------------------ ------------- ------------- ------------- ------------- ------------- ---------- U.S. Large Cap Growth Portfolio.......... 100% -- -- 100% 1 100% U.S. Small Cap Growth Portfolio.......... 100% -- -- 100% 1 100% International Large Cap Growth Portfolio. 100% -- -- 100% 1 100% International Small Cap Growth Portfolio. 100% -- -- 100% 100% 100% Qualifying Short- Foreign Foreign Qualifying Term Tax Source Interest Capital DFA Investment Dimensions Group Inc. Credit (3) Income (4) Income (5) Gain (6) ------------------------------------ ---------- ---------- ---------- ---------- U.S. Large Cap Growth Portfolio.......... 0% -- 1 100% U.S. Small Cap Growth Portfolio.......... 0% -- 1 100% International Large Cap Growth Portfolio. 6% 100% 100% 100% International Small Cap Growth Portfolio. 6% 100% 100% 100% (1)Qualifying dividends represent dividends which qualify for the corporate dividends received deduction and is reflected as a percentage of ordinary income distributions (the total of short-term capital gain and net investment income distributions). (2)The percentage in this column represents the amount of "Qualifying Dividend Income" as created by the Jobs and Growth Tax Relief Reconciliation Act of 2003 and is reflected as a percentage of ordinary income distributions (the total of short-term capital gain and net investment income distributions). Please note that these percentages are designated only, refer to your 1099 for actual qualified dividend income. (3)"Foreign Tax Credit" represents dividends which qualify for the foreign tax credit pass through and is reflected as a percentage of investment company taxable income (the total of short-term capital gain and net investment income distributions). (4)"Foreign Source Income" represents the portion of dividends derived from foreign sources, and is reflected as a percentage of investment company taxable income (the total of short-term capital gain and net investment income distrbutions). (5)The percentage in this column represents the amount of "Qualifying Interest Income" as created by The American Jobs Creation Act of 2004. The information is reflected as a percentage of ordinary income distributions (the total of short-term capital gain and net investment income distributions). (6)The percentage in this column represents the amount of "Qualifying Short-Term Capital Gain" as created by The American Jobs Creation Act of 2004. The information is reflected as a percentage of ordinary income distributions (the total of short-term capital gain and net investment income distributions). 49 [LOGO] DFA103113-041A ITEM 2. CODE OF ETHICS. The Registrant has adopted, as of the end of the period covered by this Form N-CSR (the "Report"), a code of ethics that applies to the Registrant's principal executive officer and principal financial officer (the "Code of Business Ethics"). The Registrant has not made any substantive amendments to the Code of Business Ethics during the period covered by this Report. The Registrant also has not granted any waiver from any provisions of the Code of Business Ethics during the period covered by this Report. A copy of the Code of Business Ethics is filed as an exhibit to this Report. ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT. The Registrant's Board of Directors has determined that Abbie J. Smith possesses the technical attributes to qualify as an "audit committee financial expert" serving on the Registrant's Audit Committee and has designated Ms. Smith as the "audit committee financial expert." Ms. Smith earned a Ph.D. in Accounting, and has taught Accounting at the graduate level since 1980. Ms. Smith's education and career have provided her with an understanding of generally accepted accounting principles and financial statements; the ability to assess the general application of such principles in connection with the accounting for estimates, accruals and reserves; and experience preparing, analyzing and evaluating financial statements that present a breadth and level of complexity of issues that can reasonably be expected to be raised by the Registrant's financial statements. In addition, Ms. Smith has served on the boards of directors and audit committees of entities other than the Registrant. Ms. Smith is independent under the standards set forth in Item 3 of Form N-CSR. ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES. (a) Audit Fees Fiscal Year Ended October 31, 2013: $1,448,699 Fiscal Year Ended October 31, 2012: $1,188,343 (b) Audit-Related Fees Fees for Registrant Fiscal Year Ended October 31, 2013: $116,948 Fiscal Year Ended October 31, 2012: $95,363 For fiscal years ended October 31, 2013 and October 31, 2012, Audited-Related Fees included fees for services related to limited procedures performed in connection with the production of the Registrant's semi-annual financial statements. Audit-Related Fees required to be approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X Fiscal Year Ended October 31, 2013: $155,000 Fiscal Year Ended October 31, 2012: $170,000 For the fiscal years ended October 31, 2013 and October 31, 2012, Audit-Related Fees required to be approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X included fees for services rendered in connection with the issuance of a Type II SSAE 16 over controls at the Registrant's investment adviser. (c) Tax Fees Fees for Registrant Fiscal Year Ended October 31, 2013: $640,381 Fiscal Year Ended October 31, 2012: $614,493 Tax Fees included, for the fiscal years ended October 31, 2013 and October 31, 2012, fees for tax services in connection with the Registrant's excise tax calculations, limited review of the Registrant's applicable tax returns and capital gains tax services in India. There were no Tax Fees required to be approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X during the fiscal years indicated above. (d) All Other Fees Fees for Registrant Fiscal Year Ended October 31, 2013: $0 Fiscal Year Ended October 31, 2012: $0 There were no "All Other Fees" required to be approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X during the fiscal years indicated above. (e)(1) Audit Committee's Pre-Approval Policies and Procedures Pre-Approval Policies and Procedures as adopted by the Audit Committees of DFA Investment Dimensions Group Inc. Dimensional Emerging Markets Value Fund Dimensional Investment Group Inc. The DFA Investment Trust Company (together, the "Funds") The Sarbanes-Oxley Act of 2002 (the "Act") and the rules (the "Rules") adopted by the U.S. Securities and Exchange Commission (the "SEC") require that the Funds' Audit Committees (together, the "Committee") pre-approve all audit services and non-audit services provided to the Funds by their independent registered public accounting firm (the "Auditor"). The Act and the Rules also require that the Committee pre-approve all non-audit services provided by the Auditor to Dimensional Fund Advisors LP ("Dimensional"), the Funds' investment advisor, and to affiliates of Dimensional that provide ongoing services to the Funds (with Dimensional, together the "Service Affiliates") if the services directly impact the Funds' operations and financial reporting. The following policies and procedures govern the ways in which the Committee will pre-approve audit and various types of non-audit services that the Auditor provides to the Funds and to Service Affiliates. These policies and procedures do not apply in the case of audit services that the Auditor provides to Service Affiliates, nor do they apply to services that an audit firm other than the Auditor provides to such entities. These policies and procedures comply with the requirements for pre-approval, but also provide mechanisms by which management of the Funds may request and secure pre-approval of audit and non-audit services in an orderly manner with minimal disruption to normal business operations. Pre-approval of non-audit services may be achieved through a combination of the procedures described in Sections C and D below. A. General 1. The Committee must pre-approve all audit services and non-audit services that the Auditor provides to the Funds. 2. The Committee must pre-approve any engagement of the Auditor to provide non-audit services to any Service Affiliate during the period of the Auditor's engagement to provide audit services to the Funds, if the non-audit services to the Service Affiliate directly impact the Funds' operations and financial reporting. B. Pre-Approval of Audit Services to the Funds 1. The Committee shall approve the engagement of an independent registered public accounting firm to certify the Funds' financial statements for each fiscal year (the "Engagement"). The approval of the Engagement shall not be delegated to a Designated Member (as that term is defined in Section D below). In approving the Engagement, the Committee shall obtain, review and consider sufficient information concerning the proposed Auditor to enable the Committee to make a reasonable evaluation of the Auditor's qualifications and independence. The Committee also shall consider the Auditor's proposed fees for the Engagement, in light of the scope and nature of the audit services that the Funds will receive. 2. The Committee shall report to the Boards of Directors/Trustees of the Funds (together, the "Board") regarding its approval of the Engagement and of the proposed fees for the Engagement, and the basis for such approval. 3. Unless otherwise in accordance with applicable law, the Engagement, in any event, shall require that the Auditor be selected by the vote, cast in person, of a majority of the members of the Board who are not "interested persons" of the Funds (as that term is defined in Section 2(a)(19) of the Investment Company Act of 1940) (the "Independent Directors"). C. Pre-Approval of Non-Audit Services to the Funds and to Service Affiliates--by Types of Services 1. The Committee may pre-approve types of non-audit services (including tax services) to the Funds and their Service Affiliates pursuant to this Section C. 2. Annually, at such time as the Committee considers the Engagement of the Auditor, management of the Funds, in consultation with the Auditor, shall provide to the Committee, for its consideration and action, the following: (a) a list of those types of non-audit services, if any, that the Funds may request from the Auditor during the fiscal year; and (b) a list of those types of non-audit services directly impacting the Funds' operations and financial reporting that Service Affiliates may request from the Auditor during the fiscal year. 3. The lists submitted to the Committee shall describe the types of non-audit services in reasonable detail (which may include a range of tax services) and shall include an estimated budget (or budgeted range) of fees, where possible, and such other information as the Committee may request. If management and the Auditor desire the Committee to preapprove the furnishing of a range of tax services, the Auditor shall provide an estimated range of fees for such tax services for the consideration and approval by the Committee. 4. The Committee's pre-approval of the types of non-audit services submitted pursuant to this Section C shall constitute authorization for management of the Funds to utilize the Auditor for the types of non-audit services so pre-approved, if needed or desired during the fiscal year. 5. A list of the types of non-audit services pre-approved by the Committee pursuant to this Section C will be distributed to management of the Service Affiliates and the appropriate partners of the Auditor. Periodically, the Auditor will discuss with the Committee those non-audit services that have been or are being provided pursuant to this Section C. D. Pre-Approval of Non-Audit Services to the Funds and to Service Affiliates--Project-by-Project Basis 1. The Committee also may pre-approve non-audit services on a project-by-project basis pursuant to this Section D. 2. Management of the Funds, in consultation with the Auditor, may submit either to the Committee or to the Designated Member, as provided in this Section D, for their consideration and action, a pre-approval request identifying one or more non-audit service projects. The request so submitted shall describe the project(s) in reasonable detail and shall include an estimated budget (or budgeted range) of fees and such other information as the Committee or the Designated Member, as appropriate, shall request. 3. The Committee, from time to time, shall designate one or more of its members who are Independent Directors (each a "Designated Member") to consider, on the Committee's behalf, any non-audit services, whether to the Funds or to any Service Affiliate, that have not been pre-approved by the Committee. The Designated Member also shall review, on the Committee's behalf, any proposed material change in the nature or extent of any non-audit services previously approved. The Funds' management, in consultation with the Auditor, shall explain why such non-audit services or material change in non-audit services are necessary and appropriate and the anticipated costs thereof. 4. The Designated Member will review the requested non-audit services or proposed material change in such services and will either: (a) pre-approve, pre-approve subject to conditions, or disapprove any such requested services, or any proposed material change in services, whether to the Funds or to a Service Affiliate; or (b) refer such matter to the full Committee for its consideration and action. In considering any requested non-audit services or proposed material change in such services, the Designated Member's authority shall be limited to approving non-audit services or proposed material changes that do not exceed $10,000 in value. 5. The Designated Member's pre-approval (or pre-approval subject to conditions) of the requested non-audit services or proposed material change in services pursuant to this Section D shall constitute authorization for the management of the Funds or the Service Affiliate, as the case may be, to utilize the Auditor for the non-audit services so pre-approved. Any action by the Designated Member in approving a requested non-audit service shall be presented for ratification by the Committee not later than at its next scheduled meeting. If the Designated Member does not approve the Auditor providing the requested non-audit service, the matter may be presented to the full Committee for its consideration and action. E. Amendment; Annual Review 1. The Committee may amend these procedures from time to time. 2. These procedures shall be reviewed annually by the Committee. F. Recordkeeping 1. The Funds shall maintain a written record of all decisions made by the Committee or by a Designated Member pursuant to these procedures, together with appropriate supporting materials. 2. In connection with the approval of any non-audit service pursuant to the de minimis exception provided in the Rules, a record shall be made indicating that each of the conditions for this exception, as set forth in the Rules, has been satisfied. 3. A copy of these Procedures (and of any amendments to these Procedures) shall be maintained and preserved permanently in an easily accessible place. The written records referred to in paragraphs 1 and 2 of this Section F shall be maintained and preserved for six years from the end of the fiscal year in which the actions recorded were taken, for at least the first two years in an easily accessible location. (e)(2) The fees disclosed in Items 4(b), 4(c) or 4(d) were approved by the Registrant's Audit Committee but not pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X. (f) The percentage of hours expended on the principal accountant's engagement to audit the Registrant's financial statements for the fiscal year ended October 31, 2013 that were attributed to work performed by persons other than the principal accountant's full time, permanent employees was not greater than 50%. --- (g) Aggregate Non-Audit Fees Fiscal Year Ended October 31, 2013: $2,782,732 Fiscal Year Ended October 31, 2012: $2,436,214 (h) The Registrant's Audit Committee has considered whether the provision of non-audit services that were rendered to the Registrant's investment adviser, and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the Registrant, that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant's independence. ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS. This item is not applicable to the Registrant because it is not a listed issuer. ITEM 6. INVESTMENTS. (a) Please see the schedules of investments contained in the reports to stockholders included under Item 1 of this Report except as discussed below. Provided below is a complete schedule of investments for each series of the Registrant or the master fund in which the series of the Registrant invests that provided a summary schedule of portfolio holdings in a report to stockholders included under Item 1 in lieu of a complete schedule of investments. The schedules of investments for the following series are provided below: NAME OF ENTITY FOR WHICH SCHEDULE RELATIONSHIP TO SERIES OF THE OF INVESTMENTS IS PROVIDED REGISTRANT --------------------------------- ------------------------------------- U.S. Large Cap Equity Portfolio Series of Registrant U.S. Targeted Value Portfolio Series of Registrant U.S. Small Cap Value Portfolio Series of Registrant U.S. Core Equity 1 Portfolio Series of Registrant U.S. Core Equity 2 Portfolio Series of Registrant U.S. Vector Equity Portfolio Series of Registrant NAME OF ENTITY FOR WHICH SCHEDULE RELATIONSHIP TO SERIES OF THE OF INVESTMENTS IS PROVIDED REGISTRANT --------------------------------- ------------------------------------- U.S. Small Cap Portfolio Series of Registrant U.S. Micro Cap Portfolio Series of Registrant DFA Real Estate Securities Portfolio Series of Registrant Large Cap International Portfolio Series of Registrant International Core Equity Portfolio Series of Registrant DFA International Real Estate Series of Registrant Securities Portfolio DFA International Small Cap Value Series of Registrant Portfolio International Vector Equity Portfolio Series of Registrant Emerging Markets Core Equity Portfolio Series of Registrant The U.S. Large Cap Value Series Master fund for U.S. Large Cap Value Portfolio The DFA International Value Series Master fund for LWAS/DFA International High Book to Market Portfolio The Japanese Small Company Series Master fund for Japanese Small Company Portfolio The Asia Pacific Small Company Series Master fund for Asia Pacific Small Company Portfolio The United Kingdom Small Company Master fund for United Kingdom Small Series Company Portfolio The Continental Small Company Series Master fund for Continental Small Company Portfolio The Emerging Markets Series Master fund for Emerging Markets Portfolio The Emerging Markets Small Cap Series Master fund for Emerging Markets Small Cap Portfolio Dimensional Emerging Markets Value Master fund for Emerging Markets Fund Value Portfolio U.S. Social Core Equity 2 Portfolio Series of Registrant U.S. Sustainability Core 1 Portfolio Series of Registrant International Sustainability Core 1 Series of Registrant Portfolio NAME OF ENTITY FOR WHICH SCHEDULE RELATIONSHIP TO SERIES OF THE OF INVESTMENTS IS PROVIDED REGISTRANT --------------------------------- ------------------------------------- DFA International Value ex Tobacco Series of Registrant Portfolio International Social Core Equity Series of Registrant Portfolio Emerging Markets Social Core Equity Series of Registrant Portfolio Tax-Managed U.S. Equity Portfolio Series of Registrant Tax-Managed U.S. Targeted Value Series of Registrant Portfolio Tax-Managed U.S. Small Cap Portfolio Series of Registrant T.A. U.S. Core Equity 2 Portfolio Series of Registrant Tax-Managed DFA International Value Series of Registrant Portfolio T.A. World ex U.S. Core Equity Series of Registrant Portfolio The Tax-Managed U.S. Marketwide Value Master fund for Tax-Managed U.S. Series Marketwide Value Portfolio CSTG&E U.S. Social Core Equity 2 Series of Registrant Portfolio CSTG&E International Social Core Series of Registrant Equity Portfolio VA U.S. Targeted Value Portfolio Series of Registrant VA U.S. Large Value Portfolio Series of Registrant VA International Value Portfolio Series of Registrant VA International Small Portfolio Series of Registrant U.S. Large Cap Growth Portfolio Series of Registrant U.S. Small Cap Growth Portfolio Series of Registrant International Large Cap Growth Series of Registrant Portfolio International Small Cap Growth Series of Registrant Portfolio U.S. LARGE CAP EQUITY PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 SHARES VALUE+ ------ -------- COMMON STOCKS -- (78.8%) Consumer Discretionary -- (11.3%) # Abercrombie & Fitch Co. Class A 1,639 $ 61,430 Advance Auto Parts, Inc. 678 67,244 Allison Transmission Holdings, Inc. 882 21,477 #* Amazon.com, Inc. 2,368 862,023 #* AMC Networks, Inc. Class A 730 51,166 # Autoliv, Inc. 1,699 151,602 #* AutoNation, Inc. 813 39,211 * Bed Bath & Beyond, Inc. 1,759 136,006 Best Buy Co., Inc. 3,001 128,443 BorgWarner, Inc. 1,035 106,739 Brunswick Corp. 1,550 69,951 #* Cabela's, Inc. 1,321 78,362 Cablevision Systems Corp. Class A 2,351 36,558 #* CarMax, Inc. 1,608 75,560 Carnival Corp. 1,969 68,226 # Carter's, Inc. 973 67,283 CBS Corp. Class B 4,095 242,178 * Charter Communications, Inc. Class A 733 98,398 #* Chipotle Mexican Grill, Inc. 234 123,311 Cinemark Holdings, Inc. 2,365 77,596 Coach, Inc. 2,269 114,993 # Comcast Corp. Class A 12,656 602,172 Comcast Corp. Special Class A 2,758 127,695 Dana Holding Corp. 3,382 66,287 Darden Restaurants, Inc. 1,741 89,714 Delphi Automotive P.L.C. 2,372 135,678 # Dick's Sporting Goods, Inc. 849 45,175 Dillard's, Inc. Class A 1,082 88,702 #* DIRECTV 3,062 191,344 * Discovery Communications, Inc. Class A 792 70,425 #* Discovery Communications, Inc. Class C 200 16,542 DISH Network Corp. Class A 1,594 76,831 * Dollar General Corp. 2,650 153,117 * Dollar Tree, Inc. 1,748 102,083 # DR Horton, Inc. 2,850 54,007 # DSW, Inc. Class A 557 48,832 # Dunkin' Brands Group, Inc. 1,348 64,273 Expedia, Inc. 1,096 64,532 # Family Dollar Stores, Inc. 856 58,961 # Foot Locker, Inc. 3,128 108,542 # Ford Motor Co. 29,889 511,401 #* Fossil Group, Inc. 437 55,473 # GameStop Corp. Class A 2,023 110,901 Gannett Co., Inc. 3,686 101,992 # Gap, Inc. (The) 2,074 76,717 #* General Motors Co. 4,513 166,755 Gentex Corp. 2,357 69,390 # Genuine Parts Co. 1,307 103,031 GNC Holdings, Inc. Class A 1,600 94,112 # Goodyear Tire & Rubber Co. (The) 2,928 61,429 * Groupon, Inc. 1,729 15,786 U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Consumer Discretionary -- (Continued) H&R Block, Inc. 2,350 $ 66,834 Hanesbrands, Inc. 791 53,883 # Harley-Davidson, Inc. 1,823 116,745 # Harman International Industries, Inc. 1,037 84,018 # Hasbro, Inc. 1,280 66,112 Home Depot, Inc. (The) 10,741 836,616 #* Hyatt Hotels Corp. Class A 518 24,657 # International Game Technology 5,065 95,222 Interpublic Group of Cos., Inc. (The) 5,717 96,046 Johnson Controls, Inc. 4,299 198,399 # Kohl's Corp. 4,440 252,192 # L Brands, Inc. 1,460 91,411 * Lamar Advertising Co. Class A 1,000 45,710 Las Vegas Sands Corp. 3,272 229,760 Lear Corp. 1,667 129,009 # Leggett & Platt, Inc. 2,296 68,283 # Lennar Corp. Class A 1,429 50,801 * Liberty Global P.L.C. Class A 1,299 101,803 * Liberty Global P.L.C. Series C 500 37,430 * Liberty Interactive Corp. Class A 5,420 146,123 * Liberty Media Corp. Class A 538 82,266 #* Lions Gate Entertainment Corp. 2,290 79,188 * Live Nation Entertainment, Inc. 3,136 60,964 * LKQ Corp. 1,751 57,835 Lowe's Cos., Inc. 7,447 370,712 #* Lululemon Athletica, Inc. 970 66,978 Macy's, Inc. 4,141 190,941 #* Madison Square Garden Co. (The) Class A 918 55,557 Marriott International, Inc. Class A 1,752 78,980 # Mattel, Inc. 2,549 113,099 McDonald's Corp. 6,834 659,618 #* MGM Resorts International 5,243 99,827 * Michael Kors Holdings, Ltd. 1,602 123,274 * Mohawk Industries, Inc. 869 115,073 # Morningstar, Inc. 554 44,481 #* Murphy USA, Inc. 641 26,012 #* Netflix, Inc. 199 64,173 # Newell Rubbermaid, Inc. 2,656 78,697 #* News Corp. Class A 4,400 77,440 * News Corp. Class B 487 8,732 # NIKE, Inc. Class B 4,976 376,982 # Nordstrom, Inc. 1,526 92,277 #* NVR, Inc. 56 51,370 * O'Reilly Automotive, Inc. 900 111,429 Omnicom Group, Inc. 1,541 104,957 #* Panera Bread Co. Class A 502 79,276 * Penn National Gaming, Inc. 1,617 94,611 Penske Automotive Group, Inc. 1,685 66,760 # PetSmart, Inc. 780 56,753 # Polaris Industries, Inc. 502 65,737 * priceline.com, Inc. 325 342,495 # PulteGroup, Inc. 2,292 40,454 U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------ ----------- Consumer Discretionary -- (Continued) PVH Corp. 953 $ 118,715 Ralph Lauren Corp. 379 62,778 Ross Stores, Inc. 1,768 136,755 # Royal Caribbean Cruises, Ltd. 2,488 104,595 #* Sally Beauty Holdings, Inc. 1,608 42,323 # Scripps Networks Interactive, Inc. Class A 942 75,831 #* Sears Holdings Corp. 900 52,272 Service Corp. International/US 5,318 95,777 # Signet Jewelers, Ltd. 921 68,762 # Sirius XM Radio, Inc. 21,445 80,848 # Sotheby's 697 36,174 # Staples, Inc. 11,340 182,801 # Starbucks Corp. 5,741 465,308 Starwood Hotels & Resorts Worldwide, Inc. 1,499 110,356 * Starz--Liberty Capital Class A 1,278 38,532 # Target Corp. 4,740 307,105 #* Tesla Motors, Inc. 305 48,782 Tiffany & Co. 978 77,428 # Time Warner Cable, Inc. 3,035 364,655 Time Warner, Inc. 6,579 452,240 TJX Cos., Inc. 5,429 330,029 #* Toll Brothers, Inc. 1,500 49,320 # Tractor Supply Co. 1,040 74,204 #* TripAdvisor, Inc. 954 78,905 * TRW Automotive Holdings Corp. 2,219 166,669 # Tupperware Brands Corp. 800 71,720 # Twenty-First Century Fox, Inc. Class A 8,210 279,797 Twenty-First Century Fox, Inc. Class B 1,948 66,232 #* Ulta Salon Cosmetics & Fragrance, Inc. 492 63,394 #* Under Armour, Inc. Class A 503 40,818 * Urban Outfitters, Inc. 1,056 40,001 VF Corp. 598 128,570 Viacom, Inc. Class B 3,271 272,442 * Visteon Corp. 1,065 82,101 # Walt Disney Co. (The) 11,484 787,688 Washington Post Co. (The) Class B 91 58,542 # Wendy's Co. (The) 5,283 45,909 # Whirlpool Corp. 1,405 205,144 # Williams-Sonoma, Inc. 1,674 87,785 Wyndham Worldwide Corp. 1,611 106,970 # Wynn Resorts, Ltd. 453 75,311 Yum! Brands, Inc. 3,134 211,921 ----------- Total Consumer Discretionary 19,183,167 ----------- Consumer Staples -- (7.2%) Altria Group, Inc. 15,353 571,592 Archer-Daniels-Midland Co. 3,675 150,308 # Avon Products, Inc. 3,081 53,918 # Beam, Inc. 1,896 127,601 # Brown-Forman Corp. Class A 358 25,805 # Brown-Forman Corp. Class B 785 57,289 Bunge, Ltd. 1,756 144,220 U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------ ----------- Consumer Staples -- (Continued) # Campbell Soup Co. 2,204 $ 93,824 Church & Dwight Co., Inc. 1,489 97,008 # Clorox Co. (The) 911 82,163 Coca-Cola Co. (The) 24,123 954,547 Coca-Cola Enterprises, Inc. 3,258 135,956 Colgate-Palmolive Co. 6,560 424,629 # ConAgra Foods, Inc. 4,506 143,336 * Constellation Brands, Inc. Class A 1,134 74,050 Costco Wholesale Corp. 2,962 349,516 CVS Caremark Corp. 8,794 547,514 Dr Pepper Snapple Group, Inc. 2,870 135,895 Energizer Holdings, Inc. 913 89,574 Estee Lauder Cos., Inc. (The) Class A 1,919 136,172 Flowers Foods, Inc. 3,393 85,979 General Mills, Inc. 3,994 201,378 #* Green Mountain Coffee Roasters, Inc. 1,392 87,432 #* Hain Celestial Group, Inc. (The) 519 43,196 # Herbalife, Ltd. 1,227 79,534 Hershey Co. (The) 1,139 113,034 Hillshire Brands Co. 1,607 52,758 Hormel Foods Corp. 1,800 78,228 # Ingredion, Inc. 1,295 85,159 # JM Smucker Co. (The) 1,234 137,233 # Kellogg Co. 1,693 107,082 # Kimberly-Clark Corp. 2,694 290,952 Kraft Foods Group, Inc. 4,546 247,212 Kroger Co. (The) 3,880 166,219 # Lorillard, Inc. 2,348 119,771 # McCormick & Co., Inc. 837 57,879 Mead Johnson Nutrition Co. 1,473 120,285 # Molson Coors Brewing Co. Class B 1,796 96,984 Mondelez International, Inc. Class A 9,115 306,629 #* Monster Beverage Corp. 1,175 67,245 # Nu Skin Enterprises, Inc. Class A 695 81,266 PepsiCo, Inc. 11,559 971,996 Philip Morris International, Inc. 7,357 655,656 #* Pilgrim's Pride Corp. 2,605 36,913 Procter & Gamble Co. (The) 16,427 1,326,480 Reynolds American, Inc. 2,575 132,278 * Rite Aid Corp. 3,024 16,118 # Safeway, Inc. 5,069 176,908 Seaboard Corp. 4 10,920 Spectrum Brands Holdings, Inc. 1,004 66,184 # Sysco Corp. 3,507 113,416 # Tyson Foods, Inc. Class A 4,689 129,745 #* United Natural Foods, Inc. 743 53,087 Wal-Mart Stores, Inc. 14,077 1,080,410 Walgreen Co. 5,642 334,232 # Whole Foods Market, Inc. 2,213 139,707 ----------- Total Consumer Staples 12,264,422 ----------- U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Energy -- (8.6%) Anadarko Petroleum Corp. 3,579 $ 341,043 Apache Corp. 3,218 285,758 * Atwood Oceanics, Inc. 1,534 81,501 Baker Hughes, Inc. 2,466 143,250 # Cabot Oil & Gas Corp. 1,956 69,086 * Cameron International Corp. 1,153 63,254 * Cheniere Energy, Inc. 714 28,417 Chesapeake Energy Corp. 8,558 239,282 Chevron Corp. 15,399 1,847,264 Cimarex Energy Co. 700 73,745 * Cobalt International Energy, Inc. 1,520 35,279 * Concho Resources, Inc. 1,168 129,192 # ConocoPhillips 9,824 720,099 # CONSOL Energy, Inc. 2,457 89,681 #* Continental Resources, Inc. 383 43,624 Core Laboratories NV 342 64,029 * Denbury Resources, Inc. 4,124 78,315 Devon Energy Corp. 2,100 132,762 # Diamond Offshore Drilling, Inc. 1,472 91,161 * Dresser-Rand Group, Inc. 1,357 82,465 * Dril-Quip, Inc. 511 60,002 Energen Corp. 669 52,396 EOG Resources, Inc. 2,059 367,326 EQT Corp. 874 74,823 Exxon Mobil Corp. 33,948 3,042,420 * FMC Technologies, Inc. 1,808 91,394 #* Gulfport Energy Corp. 929 54,523 Halliburton Co. 7,461 395,657 # Helmerich & Payne, Inc. 1,886 146,259 # Hess Corp. 2,724 221,189 HollyFrontier Corp. 3,631 167,244 # Kinder Morgan, Inc. 4,401 155,399 Marathon Oil Corp. 8,252 290,966 Marathon Petroleum Corp. 2,903 208,029 # Murphy Oil Corp. 2,567 154,841 Nabors Industries, Ltd. 5,496 96,070 National Oilwell Varco, Inc. 2,561 207,902 #* Newfield Exploration Co. 2,677 81,515 Noble Corp. 3,535 133,270 # Noble Energy, Inc. 2,460 184,328 #* Oasis Petroleum, Inc. 1,712 91,164 Occidental Petroleum Corp. 6,368 611,837 # Oceaneering International, Inc. 963 82,702 * Oil States International, Inc. 955 103,742 Patterson-UTI Energy, Inc. 2,373 57,569 Phillips 66 3,137 202,117 # Pioneer Natural Resources Co. 606 124,097 QEP Resources, Inc. 1,600 52,896 # Range Resources Corp. 1,037 78,511 #* Rowan Cos. P.L.C. Class A 2,040 73,603 # RPC, Inc. 54 990 Schlumberger, Ltd. 9,413 882,186 U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------ ----------- Energy -- (Continued) SM Energy Co. 1,835 $ 162,599 * Southwestern Energy Co. 4,681 174,227 Spectra Energy Corp. 3,966 141,071 * Superior Energy Services, Inc. 3,278 87,949 Tesoro Corp. 2,161 105,651 Transocean, Ltd. 1,598 75,218 #* Ultra Petroleum Corp. 1,422 26,108 Valero Energy Corp. 3,220 132,567 * Weatherford International, Ltd. 13,261 218,011 * Whiting Petroleum Corp. 1,803 120,603 Williams Cos., Inc. (The) 3,849 137,448 #* WPX Energy, Inc. 2,980 65,977 ----------- Total Energy 14,633,603 ----------- Financials -- (10.8%) ACE, Ltd. 2,038 194,507 #* Affiliated Managers Group, Inc. 392 77,396 # Aflac, Inc. 3,903 253,617 * Alleghany Corp. 208 84,327 # Allied World Assurance Co. Holdings AG 489 52,954 # Allstate Corp. (The) 3,492 185,286 * Altisource Portfolio Solutions SA 19 2,988 * American Capital, Ltd. 2,300 32,223 American Express Co. 6,001 490,882 American Financial Group, Inc. 1,264 71,113 American International Group, Inc. 7,695 397,447 Ameriprise Financial, Inc. 1,342 134,925 Aon P.L.C. 2,036 161,027 #* Arch Capital Group, Ltd. 1,393 80,738 # Arthur J Gallagher & Co. 1,523 72,266 # Assurant, Inc. 1,080 63,158 Assured Guaranty, Ltd. 2,897 59,388 Axis Capital Holdings, Ltd. 1,444 68,474 Bank of America Corp. 60,004 837,656 Bank of New York Mellon Corp. (The) 6,489 206,350 # BB&T Corp. 3,975 135,031 * Berkshire Hathaway, Inc. Class B 7,001 805,675 BlackRock, Inc. 717 215,681 # BOK Financial Corp. 1,052 64,414 Brown & Brown, Inc. 2,674 85,381 Capital One Financial Corp. 3,209 220,362 CBOE Holdings, Inc. 1,497 72,604 * CBRE Group, Inc. Class A 2,170 50,409 # Charles Schwab Corp. (The) 5,445 123,329 Chubb Corp. (The) 1,502 138,304 # Cincinnati Financial Corp. 1,763 88,150 * CIT Group, Inc. 2,199 105,904 Citigroup, Inc. 17,040 831,211 City National Corp. 784 56,534 CME Group, Inc. 1,812 134,469 CNA Financial Corp. 553 22,446 Comerica, Inc. 1,889 81,794 U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Financials -- (Continued) # Commerce Bancshares, Inc. 1,710 $ 78,677 # Cullen/Frost Bankers, Inc. 959 67,888 Discover Financial Services 4,282 222,150 * E*TRADE Financial Corp. 4,127 69,788 # East West Bancorp, Inc. 2,601 87,628 # Eaton Vance Corp. 1,656 69,237 Erie Indemnity Co. Class A 768 55,158 # Everest Re Group, Ltd. 599 92,090 # Fidelity National Financial, Inc. Class A 3,820 107,533 Fifth Third Bancorp 11,229 213,688 First Niagara Financial Group, Inc. 5,186 57,202 First Republic Bank 1,902 97,135 # FirstMerit Corp. 2,438 54,757 #* Forest City Enterprises, Inc. Class A 2,683 54,358 Franklin Resources, Inc. 2,499 134,596 #* Genworth Financial, Inc. Class A 5,090 73,958 Goldman Sachs Group, Inc. (The) 3,171 510,087 # Hartford Financial Services Group, Inc. 7,764 261,647 HCC Insurance Holdings, Inc. 1,592 72,675 * Howard Hughes Corp. (The) 671 78,541 # Huntington Bancshares, Inc. 10,514 92,523 #* IntercontinentalExchange, Inc. 616 118,722 # Invesco, Ltd. 5,119 172,766 Jones Lang LaSalle, Inc. 515 49,028 JPMorgan Chase & Co. 21,278 1,096,668 # KeyCorp 9,845 123,358 # Legg Mason, Inc. 1,785 68,669 Leucadia National Corp. 3,966 112,396 Lincoln National Corp. 3,169 143,904 # Loews Corp. 1,821 87,973 LPL Financial Holdings, Inc. 2,168 88,324 # M&T Bank Corp. 1,627 183,086 #* Markel Corp. 157 83,158 Marsh & McLennan Cos., Inc. 3,583 164,101 McGraw-Hill Cos., Inc. (The) 1,982 138,106 MetLife, Inc. 5,267 249,182 Moody's Corp. 1,480 104,577 # Morgan Stanley 8,060 231,564 * MSCI, Inc. 1,980 80,725 # NASDAQ OMX Group, Inc. (The) 1,786 63,278 # New York Community Bancorp, Inc. 5,013 81,261 Northern Trust Corp. 2,673 150,811 * Ocwen Financial Corp. 997 56,061 # Old Republic International Corp. 4,074 68,402 PartnerRe, Ltd. 770 77,162 # People's United Financial, Inc. 4,900 70,707 PNC Financial Services Group, Inc. (The) 2,924 215,002 * Popular, Inc. 1,497 37,799 # Principal Financial Group, Inc. 3,077 146,034 ProAssurance Corp. 758 34,353 Progressive Corp. (The) 8,593 223,160 # Prosperity Bancshares, Inc. 900 56,205 U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------ ----------- Financials -- (Continued) Protective Life Corp. 1,196 $ 55,112 Prudential Financial, Inc. 2,701 219,834 Raymond James Financial, Inc. 1,074 49,028 # Regions Financial Corp. 15,628 150,498 Reinsurance Group of America, Inc. 1,027 73,102 RenaissanceRe Holdings, Ltd. 899 84,245 SEI Investments Co. 1,187 39,397 * Signature Bank 740 75,347 SLM Corp. 9,705 246,216 State Street Corp. 2,672 187,227 SunTrust Banks, Inc. 3,021 101,626 * SVB Financial Group 898 86,010 T Rowe Price Group, Inc. 1,664 128,810 # TD Ameritrade Holding Corp. 4,042 110,185 * TFS Financial Corp. 3,372 40,936 Torchmark Corp. 1,091 79,490 Travelers Cos., Inc. (The) 3,524 304,121 U.S. Bancorp 12,960 484,186 # Unum Group 2,941 93,347 Validus Holdings, Ltd. 1,435 56,654 Waddell & Reed Financial, Inc. Class A 1,222 75,458 Wells Fargo & Co. 35,385 1,510,586 # Willis Group Holdings P.L.C. 884 39,842 WR Berkley Corp. 2,116 92,914 # XL Group P.L.C. 2,870 87,736 # Zions BanCorp. 2,332 66,159 ----------- Total Financials 18,424,344 ----------- Health Care -- (9.4%) Abbott Laboratories 10,589 387,028 AbbVie, Inc. 11,687 566,235 #* Actavis P.L.C. 570 88,111 Aetna, Inc. 3,291 206,346 Agilent Technologies, Inc. 2,566 130,250 #* Alexion Pharmaceuticals, Inc. 921 113,237 #* Align Technology, Inc. 685 39,086 * Alkermes P.L.C. 1,202 42,298 Allergan, Inc. 1,554 140,808 * Alnylam Pharmaceuticals, Inc. 496 28,575 AmerisourceBergen Corp. 1,874 122,428 Amgen, Inc. 4,379 507,964 #* Ariad Pharmaceuticals, Inc. 1,078 2,372 #* athenahealth, Inc. 294 39,252 Baxter International, Inc. 3,790 249,647 Becton Dickinson and Co. 1,319 138,666 * Bio-Rad Laboratories, Inc. Class A 312 38,538 * Biogen Idec, Inc. 1,438 351,145 * BioMarin Pharmaceutical, Inc. 558 35,054 #* Boston Scientific Corp. 13,386 156,482 Bristol-Myers Squibb Co. 8,311 436,494 * Brookdale Senior Living, Inc. 1,024 27,730 * Bruker Corp. 2,980 60,941 U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Health Care -- (Continued) Cardinal Health, Inc. 3,004 $ 176,215 * CareFusion Corp. 2,569 99,600 * Celgene Corp. 2,873 426,612 * Centene Corp. 582 32,685 #* Cerner Corp. 1,530 85,726 # Cigna Corp. 2,426 186,754 Community Health Systems, Inc. 2,026 88,394 # Cooper Cos., Inc. (The) 361 46,645 #* Covance, Inc. 763 68,105 Covidien P.L.C. 3,312 212,332 # CR Bard, Inc. 695 94,673 * Cubist Pharmaceuticals, Inc. 688 42,656 * DaVita HealthCare Partners, Inc. 2,218 124,674 DENTSPLY International, Inc. 1,503 70,791 Eli Lilly & Co. 5,942 296,030 * Endo Health Solutions, Inc. 2,475 108,232 * Express Scripts Holding Co. 5,760 360,115 #* Forest Laboratories, Inc. 3,199 150,449 #* Gilead Sciences, Inc. 10,529 747,454 #* Health Management Associates, Inc. Class A 4,045 51,857 * Henry Schein, Inc. 974 109,507 #* Hologic, Inc. 2,861 64,058 * Hospira, Inc. 1,747 70,788 Humana, Inc. 2,807 258,665 #* IDEXX Laboratories, Inc. 427 46,056 #* Illumina, Inc. 518 48,438 #* Incyte Corp., Ltd. 928 36,192 * Intuitive Surgical, Inc. 180 66,870 #* Isis Pharmaceuticals, Inc. 909 30,242 #* Jazz Pharmaceuticals P.L.C. 791 71,775 Johnson & Johnson 17,936 1,661,053 #* Laboratory Corp. of America Holdings 1,210 122,089 #* Mallinckrodt P.L.C. 329 13,821 McKesson Corp. 1,414 221,065 * Medivation, Inc. 610 36,515 #* MEDNAX, Inc. 947 103,242 Medtronic, Inc. 7,341 421,373 Merck & Co., Inc. 16,010 721,891 #* Mettler-Toledo International, Inc. 249 61,618 #* Mylan, Inc. 3,670 138,983 # Omnicare, Inc. 1,288 71,033 #* Opko Health, Inc. 3,042 30,481 Patterson Cos., Inc. 1,987 84,467 # PerkinElmer, Inc. 1,718 65,353 # Perrigo Co. 706 97,350 Pfizer, Inc. 42,830 1,314,024 # Quest Diagnostics, Inc. 2,993 179,311 # Questcor Pharmaceuticals, Inc. 967 59,345 #* Regeneron Pharmaceuticals, Inc. 623 179,175 # ResMed, Inc. 997 51,585 #* Salix Pharmaceuticals, Ltd. 896 64,288 #* Seattle Genetics, Inc. 987 38,128 U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------ ----------- Health Care -- (Continued) #* Sirona Dental Systems, Inc. 561 $ 40,532 # St Jude Medical, Inc. 2,971 170,506 Stryker Corp. 1,690 124,823 # Teleflex, Inc. 596 54,939 #* Tenet Healthcare Corp. 1,922 90,699 #* Theravance, Inc. 1,010 37,006 Thermo Fisher Scientific, Inc. 2,160 211,205 #* United Therapeutics Corp. 964 85,333 UnitedHealth Group, Inc. 8,727 595,705 Universal Health Services, Inc. Class B 1,508 121,485 #* Varian Medical Systems, Inc. 945 68,588 * Vertex Pharmaceuticals, Inc. 924 65,918 * Waters Corp. 576 58,130 WellPoint, Inc. 1,662 140,938 # Zimmer Holdings, Inc. 2,550 223,049 ----------- Total Health Care 16,006,323 ----------- Industrials -- (10.1%) 3M Co. 5,226 657,692 # Acuity Brands, Inc. 599 60,206 * AECOM Technology Corp. 1,091 34,672 AGCO Corp. 1,502 87,687 Alaska Air Group, Inc. 1,952 137,928 # AMERCO 474 95,715 # AMETEK, Inc. 1,875 89,681 # AO Smith Corp. 1,079 55,730 * Avis Budget Group, Inc. 1,925 60,310 #* B/E Aerospace, Inc. 940 76,290 # Babcock & Wilcox Co. (The) 1,927 62,069 # Boeing Co. (The) 5,477 714,749 Carlisle Cos., Inc. 1,367 99,354 # Caterpillar, Inc. 6,084 507,162 # CH Robinson Worldwide, Inc. 1,333 79,633 #* Chart Industries, Inc. 275 29,554 Chicago Bridge & Iron Co. NV 1,155 85,574 # Cintas Corp. 1,394 74,955 #* Clean Harbors, Inc. 1,175 72,556 #* Colfax Corp. 1,023 57,247 # Copa Holdings SA Class A 260 38,880 #* Copart, Inc. 1,394 44,929 Crane Co. 1,083 68,771 CSX Corp. 7,676 200,037 # Cummins, Inc. 1,083 137,563 Danaher Corp. 3,716 267,886 Deere & Co. 2,197 179,802 # Delta Air Lines, Inc. 6,723 177,353 # Donaldson Co., Inc. 985 39,016 Dover Corp. 1,838 168,710 Eaton Corp. P.L.C. 2,839 200,320 Emerson Electric Co. 5,751 385,144 # Equifax, Inc. 1,371 88,663 # Expeditors International of Washington, Inc. 1,652 74,819 U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Industrials -- (Continued) # Fastenal Co. 1,768 $ 88,046 # FedEx Corp. 2,452 321,212 # Flowserve Corp. 1,058 73,499 # Fluor Corp. 1,749 129,811 Fortune Brands Home & Security, Inc. 1,828 78,750 General Dynamics Corp. 1,487 128,819 General Electric Co. 60,931 1,592,736 #* Genesee & Wyoming, Inc. Class A 794 79,273 # Graco, Inc. 1,029 79,501 * Hertz Global Holdings, Inc. 7,962 182,808 * Hexcel Corp. 1,401 59,276 # Honeywell International, Inc. 5,140 445,792 Hubbell, Inc. Class B 393 42,263 # Huntington Ingalls Industries, Inc. 992 70,978 IDEX Corp. 1,085 75,028 #* IHS, Inc. Class A 393 42,857 Illinois Tool Works, Inc. 3,094 243,776 Ingersoll-Rand P.L.C. 1,491 100,687 ITT Corp. 1,635 64,959 * Jacobs Engineering Group, Inc. 1,561 94,940 JB Hunt Transport Services, Inc. 850 63,776 # Kansas City Southern 1,010 122,735 KAR Auction Services, Inc. 2,661 79,085 # KBR, Inc. 2,973 102,687 # Kennametal, Inc. 1,467 67,482 #* Kirby Corp. 1,134 100,348 # L-3 Communications Holdings, Inc. 1,255 126,065 Lennox International, Inc. 774 60,418 # Lincoln Electric Holdings, Inc. 600 41,544 Lockheed Martin Corp. 2,196 292,815 # Manpowergroup, Inc. 771 60,215 Masco Corp. 2,354 49,740 * Middleby Corp. 289 65,791 # MSC Industrial Direct Co., Inc. Class A 325 24,820 Nielsen Holdings NV 5,066 199,803 # Nordson Corp. 1,076 77,569 Norfolk Southern Corp. 1,894 162,922 # Northrop Grumman Corp. 2,108 226,631 #* Old Dominion Freight Line, Inc. 1,762 82,638 #* Oshkosh Corp. 1,922 91,468 * Owens Corning 1,406 50,518 PACCAR, Inc. 2,665 148,174 Pall Corp. 846 68,120 # Parker Hannifin Corp. 1,507 175,897 Pentair, Ltd. 2,300 154,307 # Pitney Bowes, Inc. 3,139 66,986 Precision Castparts Corp. 809 205,041 #* Quanta Services, Inc. 800 24,168 # Raytheon Co. 2,627 216,386 Republic Services, Inc. 4,634 155,100 Robert Half International, Inc. 1,400 53,942 # Rockwell Automation, Inc. 1,024 113,060 U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------ ----------- Industrials -- (Continued) # Rockwell Collins, Inc. 1,122 $ 78,349 # Rollins, Inc. 2,255 62,328 # Roper Industries, Inc. 816 103,477 # Ryder System, Inc. 665 43,777 #* Sensata Technologies Holding NV 1,245 46,849 Snap-on, Inc. 687 71,496 Southwest Airlines Co. 7,302 125,740 * Spirit Aerosystems Holdings, Inc. Class A 2,120 56,583 # SPX Corp. 671 60,866 Stanley Black & Decker, Inc. 2,318 183,331 #* Stericycle, Inc. 514 59,727 * Teledyne Technologies, Inc. 614 54,535 #* Terex Corp. 1,778 62,141 Textron, Inc. 3,727 107,300 Timken Co. 1,637 86,450 Toro Co. (The) 481 28,350 Towers Watson & Co. Class A 1,050 120,551 TransDigm Group, Inc. 392 57,001 Trinity Industries, Inc. 1,664 84,248 # Triumph Group, Inc. 1,050 75,233 Tyco International, Ltd. 2,965 108,371 Union Pacific Corp. 3,705 560,937 * United Continental Holdings, Inc. 3,181 107,995 # United Parcel Service, Inc. Class B 5,411 531,577 #* United Rentals, Inc. 2,246 145,069 United Technologies Corp. 5,829 619,331 # URS Corp. 1,505 81,601 Valmont Industries, Inc. 200 28,100 * Verisk Analytics, Inc. Class A 1,270 87,020 #* WABCO Holdings, Inc. 843 72,228 # Wabtec Corp. 819 53,391 # Waste Connections, Inc. 1,707 72,957 # Waste Management, Inc. 4,271 185,959 Watsco, Inc. 213 20,297 #* WESCO International, Inc. 967 82,640 # WW Grainger, Inc. 436 117,271 Xylem, Inc. 1,621 55,925 ----------- Total Industrials 17,234,920 ----------- Information Technology -- (14.1%) #* 3D Systems Corp. 766 47,676 Accenture P.L.C. Class A 4,421 324,943 # Activision Blizzard, Inc. 2,572 42,798 * Adobe Systems, Inc. 2,074 112,411 #* Akamai Technologies, Inc. 1,766 79,011 #* Alliance Data Systems Corp. 346 82,023 # Altera Corp. 2,518 84,605 Amdocs, Ltd. 2,187 84,090 Amphenol Corp. Class A 1,310 105,180 Analog Devices, Inc. 2,997 147,752 #* ANSYS, Inc. 550 48,098 Apple, Inc. 7,301 3,813,677 U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Information Technology -- (Continued) # Applied Materials, Inc. 5,708 $ 101,888 #* Arrow Electronics, Inc. 1,876 90,086 #* Atmel Corp. 4,379 31,879 #* Autodesk, Inc. 1,310 52,282 Automatic Data Processing, Inc. 3,001 224,985 Avago Technologies, Ltd. 1,872 85,045 Avnet, Inc. 1,706 67,728 Broadcom Corp. Class A 1,926 51,463 Broadridge Financial Solutions, Inc. 2,288 80,446 * Brocade Communications Systems, Inc. 7,978 63,984 CA, Inc. 7,198 228,608 #* Cadence Design Systems, Inc. 3,905 50,648 Cisco Systems, Inc. 37,573 845,392 * Citrix Systems, Inc. 714 40,541 * Cognizant Technology Solutions Corp. Class A 1,726 150,041 #* CommVault Systems, Inc. 531 41,460 Computer Sciences Corp. 3,237 159,455 #* Concur Technologies, Inc. 330 34,518 # Corning, Inc. 7,940 135,695 #* CoStar Group, Inc. 254 44,955 #* Cree, Inc. 857 52,063 # Dolby Laboratories, Inc. Class A 900 32,166 # DST Systems, Inc. 998 84,600 * eBay, Inc. 6,292 331,651 * EchoStar Corp. Class A 584 28,009 #* Electronic Arts, Inc. 2,250 59,063 EMC Corp. 16,699 401,945 * F5 Networks, Inc. 538 43,852 * Facebook, Inc. Class A 8,200 412,132 # FactSet Research Systems, Inc. 720 78,437 # FEI Co. 417 37,146 Fidelity National Information Services, Inc. 4,017 195,829 #* First Solar, Inc. 1,629 81,890 * Fiserv, Inc. 1,489 155,943 * FleetCor Technologies, Inc. 614 70,825 FLIR Systems, Inc. 2,280 64,934 * Fortinet, Inc. 1,495 30,064 #* Freescale Semiconductor, Ltd. 1,923 29,691 #* Gartner, Inc. 748 44,095 * Genpact, Ltd. 3,191 63,278 # Global Payments, Inc. 1,304 77,562 * Google, Inc. Class A 1,196 1,232,574 # Harris Corp. 1,214 75,219 Hewlett-Packard Co. 19,974 486,766 IAC/InterActiveCorp 1,198 63,961 * Informatica Corp. 1,064 41,070 * Ingram Micro, Inc. Class A 2,134 49,445 # Intel Corp. 49,134 1,200,344 International Business Machines Corp. 5,277 945,691 # Intuit, Inc. 1,932 137,964 # Jabil Circuit, Inc. 6,235 130,062 # Jack Henry & Associates, Inc. 1,234 67,389 U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Information Technology -- (Continued) #* JDS Uniphase Corp. 2,615 $ 34,230 #* Juniper Networks, Inc. 5,463 101,830 # KLA-Tencor Corp. 1,638 107,453 * Lam Research Corp. 1,860 100,868 # Leidos Holdings, Inc. 1,217 57,309 # Linear Technology Corp. 1,900 78,166 #* LinkedIn Corp. Class A 402 89,915 LSI Corp. 7,202 61,073 # Marvell Technology Group, Ltd. 5,584 67,008 Mastercard, Inc. Class A 840 602,364 # Maxim Integrated Products, Inc. 2,621 77,844 # Microchip Technology, Inc. 1,422 61,089 * Micron Technology, Inc. 12,571 222,255 #* MICROS Systems, Inc. 1,037 56,257 Microsoft Corp. 58,934 2,083,317 # Molex, Inc. 2,015 77,779 Molex, Inc. Class A 300 11,550 Motorola Solutions, Inc. 1,900 118,788 # National Instruments Corp. 1,229 35,702 * NCR Corp. 1,182 43,202 NetApp, Inc. 2,905 112,743 #* NetSuite, Inc. 231 23,303 #* NeuStar, Inc. Class A 1,135 52,119 #* Nuance Communications, Inc. 2,979 46,353 # NVIDIA Corp. 8,226 124,871 * ON Semiconductor Corp. 6,489 45,812 Oracle Corp. 22,445 751,907 #* Pandora Media, Inc. 1,440 36,187 # Paychex, Inc. 2,726 115,201 * PTC, Inc. 1,660 46,015 QUALCOMM, Inc. 10,063 699,077 #* Rackspace Hosting, Inc. 1,107 56,712 #* Red Hat, Inc. 687 29,726 #* Salesforce.com, Inc. 2,261 120,647 # SanDisk Corp. 3,215 223,442 # Science Applications International Corp. 695 24,499 # Seagate Technology P.L.C. 3,188 155,192 #* Skyworks Solutions, Inc. 3,255 83,914 Solera Holdings, Inc. 884 49,698 * Stratasys, Ltd. 518 58,653 Symantec Corp. 4,692 106,696 * Synopsys, Inc. 1,900 69,255 Syntel, Inc. 353 30,302 TE Connectivity, Ltd. 3,128 161,061 * Teradata Corp. 1,031 45,436 #* Teradyne, Inc. 2,722 47,608 # Texas Instruments, Inc. 6,916 291,025 * TIBCO Software, Inc. 2,026 49,759 # Total System Services, Inc. 2,941 87,730 * Trimble Navigation, Ltd. 1,282 36,627 #* Ultimate Software Group, Inc. 427 65,963 #* Vantiv, Inc. Class A 1,354 37,235 U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------ ----------- Information Technology -- (Continued) #* VeriSign, Inc. 871 $ 47,278 # Visa, Inc. Class A 2,928 575,850 #* VMware, Inc. Class A 372 30,236 Western Digital Corp. 4,566 317,931 Western Union Co. (The) 4,442 75,603 * WEX, Inc. 627 58,530 # Xerox Corp. 21,873 217,418 # Xilinx, Inc. 1,560 70,855 * Yahoo!, Inc. 4,969 163,629 #* Yelp, Inc. 158 10,705 #* Zillow, Inc. Class A 214 17,041 ----------- Total Information Technology 23,916,866 ----------- Materials -- (3.5%) # Air Products & Chemicals, Inc. 1,740 189,677 # Airgas, Inc. 1,060 115,614 # Albemarle Corp. 1,289 85,319 # Alcoa, Inc. 11,749 108,913 # Allegheny Technologies, Inc. 1,725 57,098 # Aptargroup, Inc. 1,161 74,490 Ashland, Inc. 937 86,719 Avery Dennison Corp. 1,921 90,518 # Ball Corp. 1,105 54,023 # Bemis Co., Inc. 2,335 93,167 Celanese Corp. Series A 1,248 69,900 CF Industries Holdings, Inc. 1,302 280,711 # Cliffs Natural Resources, Inc. 2,096 53,825 * Crown Holdings, Inc. 720 31,392 # Cytec Industries, Inc. 506 42,044 Dow Chemical Co. (The) 8,629 340,587 Eagle Materials, Inc. 445 33,379 Eastman Chemical Co. 1,552 122,282 # Ecolab, Inc. 1,695 179,670 # EI du Pont de Nemours & Co. 6,528 399,514 FMC Corp. 955 69,486 Freeport-McMoRan Copper & Gold, Inc. 7,763 285,368 # Huntsman Corp. 6,303 146,356 # International Flavors & Fragrances, Inc. 656 54,218 International Paper Co. 3,285 146,544 LyondellBasell Industries NV Class A 3,707 276,542 # Martin Marietta Materials, Inc. 515 50,516 # MeadWestvaco Corp. 2,103 73,290 Monsanto Co. 2,392 250,873 # Mosaic Co. (The) 1,657 75,973 # NewMarket Corp. 200 62,272 Nucor Corp. 3,313 171,514 * Owens-Illinois, Inc. 3,422 108,785 # Packaging Corp. of America 1,261 78,535 PPG Industries, Inc. 876 159,940 Praxair, Inc. 2,373 295,937 Reliance Steel & Aluminum Co. 907 66,474 Rock Tenn Co. Class A 1,250 133,763 U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Materials -- (Continued) Rockwood Holdings, Inc. 1,376 $ 87,032 RPM International, Inc. 2,249 87,081 Scotts Miracle-Gro Co. (The) Class A 979 57,487 Sealed Air Corp. 3,301 99,624 Sherwin-Williams Co. (The) 642 120,696 Sigma-Aldrich Corp. 905 78,219 # Sonoco Products Co. 2,051 83,353 Steel Dynamics, Inc. 3,426 61,565 Valspar Corp. (The) 815 57,026 # Vulcan Materials Co. 1,518 81,289 # Westlake Chemical Corp. 431 46,298 * WR Grace & Co. 566 51,880 ---------- Total Materials 5,926,778 ---------- Telecommunication Services -- (2.0%) AT&T, Inc. 28,648 1,037,057 CenturyLink, Inc. 4,093 138,589 * Crown Castle International Corp. 1,735 131,895 # Frontier Communications Corp. 20,154 88,879 * Level 3 Communications, Inc. 2,093 63,941 #* SBA Communications Corp. Class A 1,028 89,919 Telephone & Data Systems, Inc. 1,594 49,701 #* tw telecom, Inc. 2,317 73,032 # United States Cellular Corp. 352 17,037 Verizon Communications, Inc. 29,531 1,491,611 # Windstream Holdings, Inc. 17,604 150,514 ---------- Total Telecommunication Services 3,332,175 ---------- Utilities -- (1.8%) AES Corp. 4,384 61,771 # AGL Resources, Inc. 738 35,321 # Alliant Energy Corp. 527 27,520 Ameren Corp. 1,346 48,698 # American Electric Power Co., Inc. 1,420 66,513 American Water Works Co., Inc. 1,016 43,556 Aqua America, Inc. 1,532 38,576 Atmos Energy Corp. 778 34,442 #* Calpine Corp. 5,505 111,036 CenterPoint Energy, Inc. 2,404 59,138 # CMS Energy Corp. 1,578 43,332 # Consolidated Edison, Inc. 1,387 80,751 Dominion Resources, Inc. 3,387 215,921 # DTE Energy Co. 883 61,051 # Duke Energy Corp. 2,388 171,291 Edison International 1,663 81,537 # Entergy Corp. 900 58,248 # Exelon Corp. 3,666 104,628 FirstEnergy Corp. 1,237 46,845 Great Plains Energy, Inc. 1,643 38,512 Integrys Energy Group, Inc. 749 43,951 # ITC Holdings Corp. 530 53,313 MDU Resources Group, Inc. 1,180 35,140 U.S. LARGE CAP EQUITY PORTFOLIO CONTINUED SHARES VALUE+ --------- ------------ Utilities -- (Continued) National Fuel Gas Co. 461 $ 32,985 NextEra Energy, Inc. 2,570 217,807 # NiSource, Inc. 1,904 60,014 Northeast Utilities 1,641 70,382 NRG Energy, Inc. 3,523 100,511 OGE Energy Corp. 1,004 37,048 ONEOK, Inc. 2,770 156,505 # Pepco Holdings, Inc. 735 14,171 # PG&E Corp. 2,346 98,180 # Pinnacle West Capital Corp. 591 33,114 PPL Corp. 2,824 86,499 Public Service Enterprise Group, Inc. 2,554 85,559 Questar Corp. 1,469 34,757 SCANA Corp. 703 32,781 Sempra Energy 1,390 126,685 # Southern Co. (The) 3,237 132,426 # TECO Energy, Inc. 1,950 33,481 # UGI Corp. 2,542 105,162 # Westar Energy, Inc. 1,333 42,136 # Wisconsin Energy Corp. 1,167 49,142 Xcel Energy, Inc. 1,764 50,909 ------------ Total Utilities 3,161,345 ------------ TOTAL COMMON STOCKS 134,083,943 ------------ TEMPORARY CASH INVESTMENTS -- (1.3%) State Street Institutional Liquid Reserves, 0.073% 2,237,177 2,237,177 ------------ SHARES/ FACE AMOUNT (000) --------- SECURITIES LENDING COLLATERAL -- (19.9%) (S)@ DFA Short Term Investment Fund 2,917,225 33,752,290 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $159,513,609) $170,073,410 ============ U.S. TARGETED VALUE PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 SHARES VALUE+ ------- ----------- COMMON STOCKS -- (86.6%) Consumer Discretionary -- (11.9%) * 1-800-Flowers.com, Inc. Class A 193,518 $ 1,050,803 # Aaron's, Inc. 43,934 1,246,408 AH Belo Corp. Class A 96,709 777,540 * ALCO Stores, Inc. 2,172 23,935 Ambassadors Group, Inc. 6,599 24,350 Amcon Distributing Co. 228 18,354 #* America's Car-Mart, Inc. 55,801 2,552,338 * Apollo Group, Inc. Class A 15,572 415,617 Arctic Cat, Inc. 16,593 869,473 Ark Restaurants Corp. 11,690 247,828 #* Ascent Capital Group, Inc. Class A 61,337 5,178,070 * Ballantyne Strong, Inc. 68,354 341,086 #* Barnes & Noble, Inc. 321,067 4,536,677 Bassett Furniture Industries, Inc. 51,875 726,250 # Beasley Broadcasting Group, Inc. Class A 15,520 134,558 * Beazer Homes USA, Inc. 77,276 1,404,105 # bebe stores, Inc. 418,981 2,526,455 Belo Corp. Class A 335,070 4,600,511 Big 5 Sporting Goods Corp. 114,346 2,162,283 * Biglari Holdings, Inc. 8,095 3,529,582 * BJ's Restaurants, Inc. 10,100 273,306 # Bob Evans Farms, Inc. 140,376 8,014,066 * Body Central Corp. 1,514 8,478 # Bon-Ton Stores, Inc. (The) 12,493 143,045 #* Books-A-Million, Inc. 53,259 133,680 # Bowl America, Inc. Class A 14,589 209,717 #* Boyd Gaming Corp. 273,360 2,886,682 #* Bridgepoint Education, Inc. 32,062 628,415 Brown Shoe Co., Inc. 218,920 4,912,565 * Build-A-Bear Workshop, Inc. 110,392 867,681 #* Cabela's, Inc. 289,665 17,182,928 #* Cache, Inc. 97,561 588,293 * Caesars Entertainment Corp. 11,176 194,686 # Callaway Golf Co. 337,501 2,845,133 * Cambium Learning Group, Inc. 60,806 88,777 Canterbury Park Holding Corp. 9,680 109,481 * Capella Education Co. 1,015 61,834 * Career Education Corp. 35,639 195,302 Carriage Services, Inc. 70,900 1,424,381 #* Carrols Restaurant Group, Inc. 56,541 327,938 # Cato Corp. (The) Class A 6,775 203,047 #* Cavco Industries, Inc. 34,087 1,996,476 #* Central European Media Enterprises, Ltd. Class A 9,800 30,086 #* Charles & Colvard, Ltd. 32,782 174,072 * Children's Place Retail Stores, Inc. (The) 10,996 600,272 * Christopher & Banks Corp. 109,656 632,715 Churchill Downs, Inc. 58,281 5,006,921 * Citi Trends, Inc. 47,444 696,478 * Clear Channel Outdoor Holdings, Inc. Class A 28,753 244,401 * Coast Distribution System (The) 1,305 4,496 * Cobra Electronics Corp. 24,371 70,920 U.S. TARGETED VALUE PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Consumer Discretionary -- (Continued) #* Coldwater Creek, Inc. 7,715 $ 7,715 # Collectors Universe 6,880 114,552 Columbia Sportswear Co. 1,639 109,600 #* Conn's, Inc. 100,646 6,083,044 # Cooper Tire & Rubber Co. 6,800 176,868 Core-Mark Holding Co., Inc. 61,513 4,350,814 #* Corinthian Colleges, Inc. 485,524 1,039,021 * Crocs, Inc. 19,700 239,946 CSS Industries, Inc. 17,513 453,412 CTC Media, Inc. 7,192 90,907 Culp, Inc. 26,044 503,951 * Cumulus Media, Inc. Class A 58,615 350,518 #* dELiA*s, Inc. 73,478 101,400 * Delta Apparel, Inc. 33,047 624,588 Destination Maternity Corp. 8,603 268,758 * Destination XL Group, Inc. 200,677 1,394,705 # DeVry, Inc. 103,898 3,729,938 * DGSE Cos., Inc. 391 978 #* Digital Generation, Inc. 111,431 1,409,602 Dillard's, Inc. Class A 211,147 17,309,831 DineEquity, Inc. 84,069 6,899,543 * Dixie Group, Inc. (The) 26,302 331,405 Dorman Products, Inc. 2,734 132,900 Dover Downs Gaming & Entertainment, Inc. 38,372 57,942 Dover Motorsports, Inc. 12,359 29,167 DR Horton, Inc. 12,135 229,958 #* DreamWorks Animation SKG, Inc. Class A 238,933 8,181,066 #* Education Management Corp. 39,767 608,435 Educational Development Corp. 2,346 6,710 * Emerson Radio Corp. 89,291 170,546 #* Entercom Communications Corp. Class A 47,847 419,618 Escalade, Inc. 2,143 18,901 # Ethan Allen Interiors, Inc. 11,178 297,782 #* EW Scripps Co. Class A 251,388 4,982,510 #* FAB Universal Corp. 14,476 90,765 * Famous Dave's Of America, Inc. 393 7,094 #* Federal-Mogul Corp. 172,019 3,524,669 Finish Line, Inc. (The) Class A 37,849 947,739 Flexsteel Industries, Inc. 21,493 590,198 # Fred's, Inc. Class A 190,447 3,085,241 Frisch's Restaurants, Inc. 10,437 251,219 * Fuel Systems Solutions, Inc. 89,701 1,611,030 #* Full House Resorts, Inc. 75,264 206,976 #* G-III Apparel Group, Ltd. 63,930 3,626,110 * Gaiam, Inc. Class A 49,050 307,543 # GameStop Corp. Class A 635,798 34,854,446 Gaming Partners International Corp. 17,120 142,096 Gannett Co., Inc. 45,752 1,265,958 * Geeknet, Inc. 560 10,741 #* Genesco, Inc. 73,952 5,036,871 Gordmans Stores, Inc. 1,412 13,979 #* Gray Television, Inc. 304,210 2,570,574 U.S. TARGETED VALUE PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Consumer Discretionary -- (Continued) # Group 1 Automotive, Inc. 165,440 $10,588,160 * Hallwood Group, Inc. (The) 101 965 Harte-Hanks, Inc. 239,638 1,909,915 Haverty Furniture Cos., Inc. 106,089 2,950,335 Haverty Furniture Cos., Inc. Class A 844 23,632 * Helen of Troy, Ltd. 162,968 7,613,865 #* hhgregg, Inc. 125,798 1,951,127 * Hollywood Media Corp. 6,339 11,854 # Hooker Furniture Corp. 54,414 859,741 #* Iconix Brand Group, Inc. 354,283 12,786,073 International Speedway Corp. Class A 133,179 4,356,285 * Isle of Capri Casinos, Inc. 147,406 1,195,463 # JAKKS Pacific, Inc. 54,360 350,078 #* JC Penney Co., Inc. 138,300 1,037,250 Johnson Outdoors, Inc. Class A 25,140 689,590 Jones Group, Inc. (The) 471,388 7,325,370 #* Jos A Bank Clothiers, Inc. 3,293 157,998 * Journal Communications, Inc. Class A 314,796 2,628,547 * K12, Inc. 18,132 331,453 #* Kid Brands, Inc. 70,816 98,788 * Kirkland's, Inc. 86,944 1,543,256 * Krispy Kreme Doughnuts, Inc. 90,886 2,204,894 La-Z-Boy, Inc. 248,416 5,733,441 * Lakeland Industries, Inc. 27,527 149,472 Lear Corp. 119,830 9,273,644 #* Lee Enterprises, Inc. 35,600 97,900 Lennar Corp. Class B 61,143 1,801,884 #* Life Time Fitness, Inc. 24,798 1,126,325 Lifetime Brands, Inc. 57,659 902,940 Lincoln Educational Services Corp. 38,993 186,387 # Lithia Motors, Inc. Class A 106,247 6,677,624 * Live Nation Entertainment, Inc. 924,308 17,968,548 Loral Space & Communications, Inc. 35,122 2,506,657 * Luby's, Inc. 122,762 940,357 #* M/I Homes, Inc. 88,414 1,809,835 Mac-Gray Corp. 61,547 1,297,411 * Madison Square Garden Co. (The) Class A 87,806 5,314,019 Marcus Corp. 106,855 1,534,438 * MarineMax, Inc. 129,656 1,909,833 * Marriott Vacations Worldwide Corp. 55,831 2,796,016 * Martha Stewart Living Omnimedia Class A 42,931 109,903 # Matthews International Corp. Class A 17,668 717,321 #* McClatchy Co. (The) Class A 191,458 539,912 # MDC Holdings, Inc. 157,095 4,585,603 #* Media General, Inc. Class A 21,681 316,109 Men's Wearhouse, Inc. (The) 276,271 11,686,263 # Meredith Corp. 65,593 3,364,921 #* Meritage Homes Corp. 134,158 6,089,432 * Modine Manufacturing Co. 209,233 2,786,984 * Mohawk Industries, Inc. 5,093 674,415 * Monarch Casino & Resort, Inc. 39,908 674,844 * Motorcar Parts of America, Inc. 47,867 654,821 U.S. TARGETED VALUE PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Consumer Discretionary -- (Continued) # Movado Group, Inc. 85,421 $ 3,983,181 * MTR Gaming Group, Inc. 43,655 227,006 * Multimedia Games Holding Co., Inc. 80,216 2,607,822 NACCO Industries, Inc. Class A 33,452 1,905,760 * Nathan's Famous, Inc. 6,483 332,708 #* Nautilus, Inc. 7,966 63,409 * New York & Co., Inc. 198,583 1,016,745 # New York Times Co. (The) Class A 161,107 2,228,110 * Nobility Homes, Inc. 946 8,751 #* Office Depot, Inc. 891,483 4,983,390 OfficeMax, Inc. 518,999 7,774,605 * Orbitz Worldwide, Inc. 64,745 598,244 * Orient-Express Hotels, Ltd. Class A 477,974 6,361,834 * P&F Industries, Inc. Class A 1,458 11,256 #* Pacific Sunwear of California, Inc. 111,913 301,046 Penske Automotive Group, Inc. 224,615 8,899,246 * Pep Boys-Manny Moe & Jack (The) 274,328 3,549,804 * Perfumania Holdings, Inc. 13,797 64,156 Perry Ellis International, Inc. 82,106 1,560,835 #* Pinnacle Entertainment, Inc. 144,245 3,375,333 #* Quiksilver, Inc. 778,756 6,479,250 #* Radio One, Inc. Class D 26,961 80,883 #* RadioShack Corp. 225,355 633,248 * Reading International, Inc. Class A 8,787 58,170 * Red Lion Hotels Corp. 90,325 543,756 * Red Robin Gourmet Burgers, Inc. 90,949 6,928,495 # Regis Corp. 298,372 4,326,394 # Rent-A-Center, Inc. 325,902 11,158,884 RG Barry Corp. 28,514 544,047 #* Rick's Cabaret International, Inc. 50,022 564,748 Rocky Brands, Inc. 34,614 524,748 * Ruby Tuesday, Inc. 337,423 2,000,918 Ruth's Hospitality Group, Inc. 6,745 82,222 # Ryland Group, Inc. (The) 121,075 4,867,215 Saga Communications, Inc. Class A 16,217 772,091 #* Saks, Inc. 755,984 12,088,184 # Salem Communications Corp. Class A 22,946 189,534 # Scholastic Corp. 150,930 4,330,182 * Scientific Games Corp. Class A 148,261 2,710,211 Service Corp. International/US 158,670 2,857,647 Shiloh Industries, Inc. 35,425 581,678 # Shoe Carnival, Inc. 102,806 2,671,928 * Shutterfly, Inc. 4,700 230,958 #* Skechers U.S.A., Inc. Class A 268,478 7,823,449 * Skullcandy, Inc. 10,954 68,791 #* Skyline Corp. 27,646 120,813 # Sonic Automotive, Inc. Class A 196,388 4,375,525 * Spanish Broadcasting System, Inc. Class A 16,642 65,902 Spartan Motors, Inc. 157,816 1,071,571 Speedway Motorsports, Inc. 190,470 3,477,982 #* Sport Chalet, Inc. Class B 2,311 2,993 # Stage Stores, Inc. 175,507 3,624,220 U.S. TARGETED VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- ------------ Consumer Discretionary -- (Continued) # Standard Motor Products, Inc. 160,707 $ 5,811,165 #* Stanley Furniture Co., Inc. 49,285 191,719 * Starz - Liberty Capital Class A 700 21,105 Stein Mart, Inc. 188,192 2,779,596 * Steiner Leisure, Ltd. 2,621 146,828 # Stewart Enterprises, Inc. Class A 371,064 4,901,755 * Stoneridge, Inc. 82,516 1,052,904 # Strattec Security Corp. 4,900 198,548 Superior Industries International, Inc. 152,418 2,857,837 Superior Uniform Group, Inc. 5,139 77,599 Systemax, Inc. 63,565 603,867 #* Tandy Leather Factory, Inc. 40,081 332,672 # Trans World Entertainment Corp. 5,565 24,096 #* Trinity Place Holdings, Inc. 37,307 188,400 #* Tuesday Morning Corp. 200,589 2,838,334 * Unifi, Inc. 96,247 2,347,464 * Universal Electronics, Inc. 42,301 1,645,932 # Vail Resorts, Inc. 89,224 6,285,831 # Valassis Communications, Inc. 40,393 1,105,152 Value Line, Inc. 845 7,884 * Valuevision Media, Inc. Class A 72,468 386,979 #* VOXX International Corp. 100,744 1,562,539 # Washington Post Co. (The) Class B 30,743 19,777,587 * Wells-Gardner Electronics Corp. 22,378 37,595 # Wendy's Co. (The) 2,246,594 19,522,902 * West Marine, Inc. 115,748 1,413,283 #* Wet Seal, Inc. (The) Class A 380,337 1,258,915 Weyco Group, Inc. 14,578 418,826 #* Zale Corp. 182,634 2,854,569 ------------ Total Consumer Discretionary 573,196,034 ------------ Consumer Staples -- (2.9%) Alico, Inc. 10,173 406,513 * Alliance One International, Inc. 444,232 1,319,369 Andersons, Inc. (The) 106,084 7,869,311 #* Boulder Brands, Inc. 276,779 4,536,408 # Cal-Maine Foods, Inc. 23,065 1,170,087 CCA Industries, Inc. 24,286 75,044 * Central Garden and Pet Co. 79,373 602,441 * Central Garden and Pet Co. Class A 191,617 1,410,301 * Chiquita Brands International, Inc. 229,559 2,375,936 # Coca-Cola Bottling Co. Consolidated 9,535 603,756 * Constellation Brands, Inc. Class A 152,269 9,943,166 * Constellation Brands, Inc. Class B 157 10,064 * Craft Brew Alliance, Inc. 56,259 912,521 #* Dean Foods Co. 86,879 1,694,140 #* Dole Food Co., Inc. 440,980 5,975,279 #* Elizabeth Arden, Inc. 77,799 2,815,546 * Farmer Bros Co. 21,013 379,495 Fresh Del Monte Produce, Inc. 302,976 8,056,132 Golden Enterprises, Inc. 17,103 71,662 # Griffin Land & Nurseries, Inc. 12,781 421,773 U.S. TARGETED VALUE PORTFOLIO CONTINUED SHARES VALUE+ ------- ------------ Consumer Staples -- (Continued) * Hain Celestial Group, Inc. (The) 189,025 $ 15,732,551 Ingles Markets, Inc. Class A 62,571 1,614,957 Inter Parfums, Inc. 89,349 3,141,511 John B Sanfilippo & Son, Inc. 38,315 941,783 * Mannatech, Inc. 2,230 52,606 MGP Ingredients, Inc. 55,785 295,103 Nash Finch Co. 71,489 2,005,981 #* Natural Alternatives International, Inc. 12,132 74,127 Nutraceutical International Corp. 56,998 1,370,802 Oil-Dri Corp. of America 20,522 728,326 * Omega Protein Corp. 110,084 1,030,386 # Orchids Paper Products Co. 20,718 631,899 * Pantry, Inc. (The) 109,950 1,472,230 * Pilgrim's Pride Corp. 181,851 2,576,829 * Post Holdings, Inc. 183,305 7,872,950 * Prestige Brands Holdings, Inc. 300,369 9,380,524 * Primo Water Corp. 4,300 10,707 # Reliv International, Inc. 600 1,518 Sanderson Farms, Inc. 89,079 5,630,684 Seaboard Corp. 1,661 4,534,530 * Seneca Foods Corp. Class A 31,294 917,540 * Seneca Foods Corp. Class B 189 5,575 # Snyders-Lance, Inc. 45,595 1,367,394 # Spartan Stores, Inc. 108,525 2,553,593 Spectrum Brands Holdings, Inc. 120,091 7,916,399 #* Susser Holdings Corp. 129,264 7,088,838 # Tootsie Roll Industries, Inc. 10,934 349,888 * TreeHouse Foods, Inc. 2,500 183,150 # Universal Corp. 123,817 6,566,015 Village Super Market, Inc. Class A 20,181 739,835 Weis Markets, Inc. 77,079 3,944,132 ------------ Total Consumer Staples 141,381,307 ------------ Energy -- (9.2%) Adams Resources & Energy, Inc. 17,359 898,675 # Alon USA Energy, Inc. 285,694 3,451,184 #* Alpha Natural Resources, Inc. 963,117 6,741,819 #* Approach Resources, Inc. 87,580 2,465,377 # Arch Coal, Inc. 477,446 2,024,371 * Atwood Oceanics, Inc. 10,300 547,239 * Barnwell Industries, Inc. 21,188 75,217 #* Basic Energy Services, Inc. 237,320 3,481,484 # Berry Petroleum Co. Class A 3,378 161,299 #* Bill Barrett Corp. 259,577 7,182,496 Bolt Technology Corp. 41,081 734,939 #* Bonanza Creek Energy, Inc. 12,400 626,696 #* BPZ Resources, Inc. 410,902 825,913 Bristow Group, Inc. 161,348 12,983,674 #* C&J Energy Services, Inc. 101,732 2,343,905 #* Cal Dive International, Inc. 84,019 165,517 * Callon Petroleum Co. 109,984 751,191 #* Carrizo Oil & Gas, Inc. 61,838 2,710,978 U.S. TARGETED VALUE PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Energy -- (Continued) Cimarex Energy Co. 96,136 $10,127,928 * Clayton Williams Energy, Inc. 10,106 786,550 * Cloud Peak Energy, Inc. 229,484 3,582,245 # Comstock Resources, Inc. 277,161 4,742,225 Contango Oil & Gas Co. 38,704 1,658,482 Crosstex Energy, Inc. 109,720 3,367,307 * Dawson Geophysical Co. 47,151 1,378,695 # Delek US Holdings, Inc. 193,674 4,948,371 * Double Eagle Petroleum Co. 52,252 145,261 #* Emerald Oil, Inc. 129,561 1,127,181 #* Endeavour International Corp. 170,330 1,011,760 Energy XXI Bermuda, Ltd. 16,800 488,208 * ENGlobal Corp. 46,727 51,400 * EPL Oil & Gas, Inc. 189,781 6,050,218 * Era Group, Inc. 101,346 3,202,534 #* Exterran Holdings, Inc. 371,091 10,594,648 #* Forbes Energy Services, Ltd. 2,714 13,516 * Gastar Exploration, Ltd. 4,425 19,116 #* Global Geophysical Services, Inc. 136,583 326,433 # Green Plains Renewable Energy, Inc. 181,915 2,934,289 Gulf Island Fabrication, Inc. 73,174 1,845,448 Gulfmark Offshore, Inc. Class A 149,101 7,422,248 #* Harvest Natural Resources, Inc. 198,761 993,805 * Helix Energy Solutions Group, Inc. 568,915 13,460,529 * Hercules Offshore, Inc. 840,892 5,718,066 * HKN, Inc. 1,295 96,477 * Hornbeck Offshore Services, Inc. 193,454 10,692,203 #* James River Coal Co. 51,084 98,081 #* Key Energy Services, Inc. 315,211 2,464,950 Knightsbridge Tankers, Ltd. 22,316 183,884 #* Magnum Hunter Resources Corp. 505,906 3,607,110 * Matador Resources Co. 23,874 439,520 * Matrix Service Co. 139,889 2,908,292 #* McDermott International, Inc. 73,157 517,220 * Mexco Energy Corp. 6,763 44,433 #* Miller Energy Resources, Inc. 32,924 222,566 * Mitcham Industries, Inc. 57,917 963,739 Nabors Industries, Ltd. 991,502 17,331,455 * Natural Gas Services Group, Inc. 61,345 1,717,047 * Newfield Exploration Co. 309,009 9,409,324 #* Newpark Resources, Inc. 487,023 6,209,543 # Nordic American Tankers, Ltd. 3,000 24,480 #* Northern Oil and Gas, Inc. 31,352 515,113 #* Nuverra Environmental Solutions, Inc. 252,631 616,420 #* Overseas Shipholding Group, Inc. 142,039 490,035 * Pacific Drilling SA 5,594 63,604 # Panhandle Oil and Gas, Inc. Class A 587 19,706 * Parker Drilling Co. 643,647 4,634,258 # Patterson-UTI Energy, Inc. 696,309 16,892,456 * PDC Energy, Inc. 157,349 10,669,836 #* Penn Virginia Corp. 288,010 2,450,965 * PetroQuest Energy, Inc. 3,108 14,670 U.S. TARGETED VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- ------------ Energy -- (Continued) * PHI, Inc. 63,165 $ 2,515,230 * Pioneer Energy Services Corp. 336,370 2,825,508 * Pyramid Oil Co. 100 530 QEP Resources, Inc. 293,548 9,704,697 * Renewable Energy Group, Inc. 59,110 644,890 #* Rex Energy Corp. 399,863 8,597,054 * Rowan Cos. P.L.C. Class A 671,277 24,219,674 #* SandRidge Energy, Inc. 228,638 1,449,565 # SEACOR Holdings, Inc. 105,631 10,330,712 SemGroup Corp. Class A 67,640 4,084,780 # Ship Finance International, Ltd. 172,469 2,854,362 * Steel Excel, Inc. 42,674 1,184,203 * Stone Energy Corp. 213,643 7,447,595 * Superior Energy Services, Inc. 633,713 17,002,520 #* Swift Energy Co. 231,376 3,174,479 * Synergy Resources Corp. 9,843 101,973 # Teekay Corp. 73,629 3,197,707 * Tesco Corp. 55,087 946,395 Tesoro Corp. 476,686 23,305,179 * TETRA Technologies, Inc. 401,757 5,210,788 TGC Industries, Inc. 36,617 269,867 Tidewater, Inc. 297,291 17,902,864 * Triangle Petroleum Corp. 227,723 2,407,032 * Unit Corp. 224,334 11,533,011 #* Vaalco Energy, Inc. 266,869 1,406,400 # W&T Offshore, Inc. 50,390 961,945 * Warren Resources, Inc. 192,172 601,498 # Western Refining, Inc. 390,087 12,588,107 * Whiting Petroleum Corp. 384,511 25,719,941 * Willbros Group, Inc. 309,295 3,018,719 #* WPX Energy, Inc. 427,916 9,474,060 ------------ Total Energy 442,147,109 ------------ Financials -- (22.3%) #* 1/st/ Constitution Bancorp 464 4,686 1/st/ Source Corp. 90,857 2,851,093 1/st/ United Bancorp Inc/Boca Raton 30,188 230,636 # Access National Corp. 11,489 166,935 * Alexander & Baldwin, Inc. 201,428 7,452,836 Alliance Bancorp, Inc. of Pennsylvania 770 11,165 Allied World Assurance Co. Holdings AG 169,770 18,384,393 * American Capital, Ltd. 1,522,751 21,333,742 # American Equity Investment Life Holding Co. 325,267 6,778,564 American Financial Group, Inc. 459,734 25,864,635 * American Independence Corp. 60 665 # American National Bankshares, Inc. 18,542 425,353 American National Insurance Co. 45,596 4,608,388 * American River Bankshares 1,626 14,114 * Ameris Bancorp 93,067 1,703,126 AMERISAFE, Inc. 104,447 4,021,210 AmeriServ Financial, Inc. 36,909 115,894 Argo Group International Holdings, Ltd. 160,766 6,748,957 U.S. TARGETED VALUE PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Financials -- (Continued) # Arrow Financial Corp. 1,531 $ 39,515 Aspen Insurance Holdings, Ltd. 372,700 14,539,027 # Associated Banc-Corp. 554,065 9,009,097 Assurant, Inc. 471,974 27,601,040 # Assured Guaranty, Ltd. 768,259 15,749,309 Asta Funding, Inc. 60,415 518,361 Astoria Financial Corp. 497,058 6,566,136 * Atlantic Coast Financial Corp. 4,033 15,729 #* Atlanticus Holdings Corp. 66,219 231,104 # Auburn National BanCorp., Inc. 692 17,715 * AV Homes, Inc. 44,952 858,583 Axis Capital Holdings, Ltd. 593,046 28,122,241 Baldwin & Lyons, Inc. Class A 253 6,797 Baldwin & Lyons, Inc. Class B 14,285 390,409 # Banc of California, Inc. 23,503 331,627 Bancfirst Corp. 24,142 1,341,571 * Bancorp, Inc. 141,702 2,291,321 # BancorpSouth, Inc. 242,769 5,365,195 Bank Mutual Corp. 160,845 1,022,974 Bank of Commerce Holdings 5,200 28,600 Bank of Kentucky Financial Corp. 3,728 107,404 BankFinancial Corp. 106,520 989,571 Banner Corp. 102,797 3,933,013 # Bar Harbor Bankshares 8,396 316,865 BBCN Bancorp, Inc. 185,117 2,745,285 # BCB Bancorp, Inc. 4,921 54,426 * BCSB Bancorp, Inc. 238 6,057 #* Beneficial Mutual Bancorp, Inc. 23,968 233,688 Berkshire Hills Bancorp, Inc. 105,507 2,676,713 #* BofI Holding, Inc. 54,028 3,264,372 Boston Private Financial Holdings, Inc. 377,588 4,300,727 Bridge Bancorp, Inc. 2,355 54,377 #* Bridge Capital Holdings 1,785 31,398 Brookline Bancorp, Inc. 273,500 2,425,945 Bryn Mawr Bank Corp. 16,485 459,272 C&F Financial Corp. 2,760 148,792 # Calamos Asset Management, Inc. Class A 87,224 856,540 # California First National Bancorp 3,333 59,494 * Camco Financial Corp. 411 2,548 Camden National Corp. 10,941 441,469 # Cape Bancorp, Inc. 3,623 33,368 #* Capital City Bank Group, Inc. 69,097 849,893 Capital Southwest Corp. 69,272 2,276,971 CapitalSource, Inc. 731,662 9,570,139 Capitol Federal Financial, Inc. 38,345 485,831 # Cardinal Financial Corp. 147,342 2,431,143 # Cash America International, Inc. 71,699 2,828,526 Cathay General Bancorp 368,468 9,075,367 Center Bancorp, Inc. 50,281 752,204 Centerstate Banks, Inc. 86,915 856,982 # Central Pacific Financial Corp. 14,470 266,537 Century Bancorp, Inc. Class A 3,819 124,118 U.S. TARGETED VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Financials -- (Continued) CFS Bancorp, Inc. 3,357 $ 41,929 Chemical Financial Corp. 79,068 2,315,902 Chicopee Bancorp, Inc. 1,885 33,082 Citizens Community Bancorp, Inc. 6,617 50,488 Citizens Holding Co. 1,103 21,089 #* Citizens, Inc. 78,129 656,284 # City Holding Co. 17,442 793,611 # Clifton Savings Bancorp, Inc. 2,471 31,209 CNB Financial Corp. 7,180 143,672 CNO Financial Group, Inc. 1,174,038 18,291,512 CoBiz Financial, Inc. 151,412 1,642,820 # Codorus Valley Bancorp, Inc. 303 6,372 #* Colonial Financial Services, Inc. 522 7,308 Columbia Banking System, Inc. 153,319 3,938,765 Commercial National Financial Corp. 1,547 32,487 # Community Bank System, Inc. 126,240 4,583,774 # Community Trust Bancorp, Inc. 69,880 2,976,189 * Community West Bancshares 367 2,156 # Consolidated-Tomoka Land Co. 11,795 442,548 * Cowen Group, Inc. Class A 349,805 1,388,726 # CVB Financial Corp. 30,606 445,011 * DFC Global Corp. 1,000 12,100 Dime Community Bancshares, Inc. 179,204 2,931,777 Donegal Group, Inc. Class A 80,831 1,281,171 # Donegal Group, Inc. Class B 59 1,239 #* Doral Financial Corp. 1,812 30,623 #* E*TRADE Financial Corp. 1,092,091 18,467,259 Eastern Insurance Holdings, Inc. 45,624 1,115,051 EMC Insurance Group, Inc. 55,011 1,872,574 Employers Holdings, Inc. 110,966 3,336,748 #* Encore Capital Group, Inc. 47,093 2,300,493 Endurance Specialty Holdings, Ltd. 242,794 13,424,080 #* Enstar Group, Ltd. 8,504 1,155,949 # Enterprise Bancorp, Inc. 7,936 155,069 Enterprise Financial Services Corp. 49,993 901,374 # ESB Financial Corp. 50,107 666,924 ESSA Bancorp, Inc. 79,429 870,542 Evans Bancorp, Inc. 163 3,297 * Ezcorp, Inc. Class A 4,075 64,100 #* Farmers Capital Bank Corp. 1,687 34,651 FBL Financial Group, Inc. Class A 134,590 6,021,557 Federal Agricultural Mortgage Corp. Class C 60,117 2,145,576 Federated National Holding Co. Class C 28,190 288,948 Fidelity Southern Corp. 21,545 328,994 Financial Institutions, Inc. 31,060 735,190 * First Acceptance Corp. 82,671 140,541 First American Financial Corp. 274,012 7,085,950 #* First BanCorp 76,559 424,902 First Bancorp 63,963 958,166 First Bancorp, Inc. 23,909 416,256 First Bancshares, Inc. 137 2,034 # First Busey Corp. 256,451 1,325,852 U.S. TARGETED VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Financials -- (Continued) # First Business Financial Services, Inc. 614 $ 21,625 First Citizens BancShares, Inc. Class A 8,839 1,871,481 First Commonwealth Financial Corp. 522,296 4,538,752 First Community Bancshares, Inc. 48,980 817,476 # First Connecticut Bancorp Inc/Farmington 3,750 55,050 First Defiance Financial Corp. 44,537 1,149,945 * First Federal Bancshares of Arkansas, Inc. 4,332 38,901 First Financial Bancorp 95,772 1,486,381 First Financial Corp. 49,520 1,710,421 # First Financial Holdings, Inc. 4,218 252,785 # First Financial Northwest, Inc. 97,328 1,055,036 First Interstate Bancsystem, Inc. 39,348 988,028 #* First Marblehead Corp. (The) 243,279 233,548 First Merchants Corp. 139,166 2,616,321 First Midwest Bancorp, Inc. 307,253 5,109,617 # First Niagara Financial Group, Inc. 1,293,262 14,264,680 * First South Bancorp, Inc. 6,484 43,832 # First West Virginia Bancorp 63 1,033 Firstbank Corp. 301 5,897 FirstMerit Corp. 206,220 4,631,701 #* Flagstar Bancorp, Inc. 41,624 674,725 Flushing Financial Corp. 152,256 3,058,823 # FNB Corp. 457,720 5,726,077 * Forestar Group, Inc. 78,340 1,749,332 * Fortegra Financial Corp. 281 2,071 Fox Chase Bancorp, Inc. 23,164 400,042 Franklin Financial Corp. 5,307 100,143 # FXCM, Inc. Class A 5,955 97,602 # Gain Capital Holdings, Inc. 1,656 17,338 * Genworth Financial, Inc. Class A 2,131,699 30,973,586 # German American Bancorp, Inc. 30,439 827,332 GFI Group, Inc. 221,401 768,261 # Glacier Bancorp, Inc. 87,422 2,415,470 * Global Indemnity P.L.C. 81,077 1,996,927 # Great Southern Bancorp, Inc. 51,030 1,432,922 #* Green Dot Corp. Class A 63,664 1,366,229 #* Greenlight Capital Re, Ltd. Class A 49,161 1,513,667 Guaranty Bancorp 24,139 325,877 #* Guaranty Federal Bancshares, Inc. 348 3,920 * Hallmark Financial Services, Inc. 100,040 851,340 Hampden Bancorp, Inc. 20,730 356,556 Hanmi Financial Corp. 148,220 2,590,886 Hanover Insurance Group, Inc. (The) 221,081 12,942,082 # Harleysville Savings Financial Corp. 1,060 19,451 #* Harris & Harris Group, Inc. 146,100 457,293 Hawthorn Bancshares, Inc. 535 7,388 # HCI Group, Inc. 31,651 1,390,745 # Heartland Financial USA, Inc. 44,981 1,191,547 Heritage Commerce Corp. 68,269 531,816 Heritage Financial Corp. 25,380 409,379 Heritage Financial Group, Inc. 194 3,333 HF Financial Corp. 3,852 51,347 U.S. TARGETED VALUE PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Financials -- (Continued) * Hilltop Holdings, Inc. 253,312 $ 4,392,430 # Hingham Institution for Savings 1,748 127,115 * HMN Financial, Inc. 800 6,888 * Home Bancorp, Inc. 5,782 105,059 # Home BancShares, Inc. 58,632 1,986,452 Home Federal Bancorp, Inc. 86,290 1,345,261 HopFed Bancorp, Inc. 6,953 75,440 Horace Mann Educators Corp. 199,789 5,534,155 Horizon Bancorp 9,962 216,275 Hudson City Bancorp, Inc. 75,160 674,937 # Hudson Valley Holding Corp. 11,959 221,122 # Iberiabank Corp. 77,132 4,506,823 * ICG Group, Inc. 117,659 1,919,018 #* Imperial Holdings, Inc. 1,082 6,341 Independence Holding Co. 55,689 764,053 # Independent Bank Corp.(453836108) 97,815 3,509,602 #* Independent Bank Corp.(453838609) 24,000 233,280 Infinity Property & Casualty Corp. 11,500 788,670 Interactive Brokers Group, Inc. Class A 93,698 1,932,990 International Bancshares Corp. 239,756 5,478,425 * Intervest Bancshares Corp. Class A 17,708 129,091 #* INTL. FCStone, Inc. 4,934 100,950 * Investment Technology Group, Inc. 154,059 2,468,025 # Investors Title Co. 4,025 314,514 # Janus Capital Group, Inc. 888,638 8,770,857 JMP Group, Inc. 57,369 367,735 * KCG Holdings, Inc. Class A 42,847 374,483 #* Kearny Financial Corp. 1,371 14,396 Kemper Corp. 288,656 10,686,045 # Kentucky First Federal Bancorp 2,420 19,578 Lake Shore Bancorp, Inc. 306 3,687 # Lakeland Bancorp, Inc. 130,516 1,487,882 Lakeland Financial Corp. 52,733 1,876,767 Landmark Bancorp, Inc. 446 8,969 # Legg Mason, Inc. 731,595 28,144,460 LNB Bancorp, Inc. 31,120 302,798 #* Louisiana Bancorp, Inc. 13,988 250,315 * Macatawa Bank Corp. 137,897 677,074 # Maiden Holdings, Ltd. 224,361 2,456,753 MainSource Financial Group, Inc. 88,279 1,431,885 Manning & Napier, Inc. 13,076 217,062 * Markel Corp. 7,250 3,840,108 Marlin Business Services Corp. 58,904 1,623,983 #* Maui Land & Pineapple Co., Inc. 817 3,480 # MB Financial, Inc. 272,954 8,106,734 #* MBIA, Inc. 871,365 9,907,420 #* MBT Financial Corp. 39,294 150,889 MCG Capital Corp. 450,543 2,122,058 # Meadowbrook Insurance Group, Inc. 217,301 1,442,879 # Medallion Financial Corp. 109,087 1,655,941 Mercantile Bank Corp. 37,124 810,788 # Merchants Bancshares, Inc. 17,206 515,836 U.S. TARGETED VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Financials -- (Continued) * Meridian Interstate Bancorp, Inc. 23,717 $ 563,042 # Meta Financial Group, Inc. 1,924 71,611 * Metro Bancorp, Inc. 66,562 1,420,433 MetroCorp Bancshares, Inc. 13,453 192,781 #* MGIC Investment Corp. 848,943 6,910,396 MicroFinancial, Inc. 41,697 358,177 Mid Penn Bancorp, Inc. 106 1,279 # MidSouth Bancorp, Inc. 19,374 294,097 # Montpelier Re Holdings, Ltd. 317,012 8,752,701 MutualFirst Financial, Inc. 3,283 55,811 NASDAQ OMX Group, Inc. (The) 858,799 30,427,249 # National Interstate Corp. 13,998 365,768 National Penn Bancshares, Inc. 516,991 5,361,197 National Security Group, Inc. 1,423 9,178 National Western Life Insurance Co. Class A 2,511 522,288 * Naugatuck Valley Financial Corp. 385 2,845 * Navigators Group, Inc. (The) 67,157 3,776,910 NBT Bancorp, Inc. 70,594 1,720,376 Nelnet, Inc. Class A 155,516 6,629,647 * New Century Bancorp, Inc. 700 4,627 # New Hampshire Thrift Bancshares, Inc. 1,468 20,846 * NewBridge Bancorp 48,182 359,438 #* NewStar Financial, Inc. 256,825 4,471,323 Nicholas Financial, Inc. 4,089 65,628 * North Valley Bancorp 6,514 123,115 Northeast Community Bancorp, Inc. 9,196 69,430 # Northfield Bancorp, Inc. 31,022 401,114 Northrim BanCorp, Inc. 10,888 273,289 Northwest Bancshares, Inc. 343,594 4,806,880 # Norwood Financial Corp. 368 10,576 Ocean Shore Holding Co. 92 1,313 OceanFirst Financial Corp. 60,364 1,061,803 OFG Bancorp 216,486 3,206,158 Ohio Valley Banc Corp. 1,834 37,670 # Old National Bancorp 356,617 5,185,211 Old Republic International Corp. 1,179,426 19,802,563 #* Old Second Bancorp, Inc. 32,787 156,394 * OmniAmerican Bancorp, Inc. 49,613 1,087,517 OneBeacon Insurance Group, Ltd. Class A 107,996 1,723,616 # Oppenheimer Holdings, Inc. Class A 14,598 289,478 Oritani Financial Corp. 50,436 818,072 Pacific Continental Corp. 34,894 480,839 * Pacific Mercantile Bancorp 40,919 254,516 #* Pacific Premier Bancorp, Inc. 18,779 261,216 PacWest Bancorp 16,415 624,591 Park National Corp. 10,252 812,163 Park Sterling Corp. 119,833 780,113 PartnerRe, Ltd. 321,083 32,175,727 # Peapack Gladstone Financial Corp. 23,800 436,492 # People's United Financial, Inc. 1,477,976 21,327,194 Peoples Bancorp of North Carolina, Inc. 410 5,367 # Peoples Bancorp, Inc. 49,925 1,119,319 U.S. TARGETED VALUE PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Financials -- (Continued) #* PHH Corp. 305,779 $ 7,353,985 #* Phoenix Cos., Inc. (The) 18,657 719,600 * PICO Holdings, Inc. 89,733 2,106,931 * Pinnacle Financial Partners, Inc. 158,447 4,911,857 * Piper Jaffray Cos. 60,533 2,172,529 Platinum Underwriters Holdings, Ltd. 188,394 11,716,223 * Popular, Inc. 270,401 6,827,625 #* Portfolio Recovery Associates, Inc. 5,400 321,030 * Preferred Bank 24,059 462,414 Primerica, Inc. 35,182 1,511,067 PrivateBancorp, Inc. 258,703 6,302,005 Protective Life Corp. 420,743 19,387,837 # Provident Financial Holdings, Inc. 30,246 458,529 Provident Financial Services, Inc. 305,970 5,733,878 * Prudential Bancorp, Inc. 2,693 29,110 * PSB Holdings, Inc. 599 3,738 # Pulaski Financial Corp. 28,592 311,367 QC Holdings, Inc. 80,189 188,444 QCR Holdings, Inc. 246 4,271 Radian Group, Inc. 375,344 5,468,762 Reinsurance Group of America, Inc. 387,086 27,552,781 # Renasant Corp. 120,023 3,442,260 # Republic Bancorp, Inc. Class A 21,299 490,303 Resource America, Inc. Class A 83,429 719,992 * Riverview Bancorp, Inc. 31,681 84,271 Rockville Financial, Inc. 65,894 866,506 #* Roma Financial Corp. 2,705 52,639 # S&T Bancorp, Inc. 137,134 3,362,526 #* Safeguard Scientifics, Inc. 101,615 1,773,182 Safety Insurance Group, Inc. 65,125 3,561,686 Salisbury Bancorp, Inc. 291 7,631 Sandy Spring Bancorp, Inc. 104,976 2,570,862 #* Seacoast Banking Corp. of Florida 29,126 66,407 Selective Insurance Group, Inc. 252,402 6,630,601 * Shore Bancshares, Inc. 2,613 23,909 SI Financial Group, Inc. 7,388 83,706 Sierra Bancorp 27,291 516,619 Simmons First National Corp. Class A 57,881 1,895,024 Simplicity Bancorp, Inc. 18,379 288,183 (d) Southern Community Financial 34,147 7,512 * Southern First Bancshares, Inc. 2,286 30,724 Southern Missouri Bancorp, Inc. 293 8,863 # Southern National Bancorp of Virginia, Inc. 259 2,525 # Southside Bancshares, Inc. 48,813 1,332,595 * Southwest Bancorp, Inc. 87,892 1,407,151 Southwest Georgia Financial Corp. 700 6,650 StanCorp Financial Group, Inc. 122,098 7,191,572 State Auto Financial Corp. 121,285 2,304,415 StellarOne Corp. 104,796 2,439,651 * Sterling Bancorp(859158107) 80,532 1,187,847 Sterling Bancorp(85917A100) 170,197 1,994,709 # Stewart Information Services Corp. 93,852 2,939,445 U.S. TARGETED VALUE PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Financials -- (Continued) #* Stratus Properties, Inc. 1,430 $ 21,993 * Suffolk Bancorp 87,728 1,715,082 Summit State Bank 1,121 11,098 #* Sun Bancorp, Inc. 120,870 398,871 Susquehanna Bancshares, Inc. 956,660 11,274,238 * Sussex Bancorp 639 4,374 SY Bancorp, Inc. 900 27,009 Symetra Financial Corp. 244,896 4,586,902 * Taylor Capital Group, Inc. 78,907 1,814,861 Teche Holding Co. 540 27,162 Territorial Bancorp, Inc. 20,309 442,939 TF Financial Corp. 4,609 127,900 Thomas Properties Group, Inc. 248,419 1,689,249 Timberland Bancorp, Inc. 10,843 96,177 # Tompkins Financial Corp. 36,628 1,806,493 Tower Financial Corp. 88 2,088 # Tower Group International, Ltd. 213,884 776,399 # TowneBank 79,009 1,150,371 Tree.com, Inc. 52,289 1,543,048 # Trico Bancshares 48,647 1,230,283 # TrustCo Bank Corp. 183,689 1,234,390 # Trustmark Corp. 178,457 4,846,892 # Umpqua Holdings Corp. 583,249 9,547,786 # Union First Market Bankshares Corp. 75,815 1,828,658 United Bancshares, Inc. 466 6,184 # United Bankshares, Inc. 79,082 2,339,246 United Community Bancorp 114 1,243 * United Community Banks, Inc. 87,255 1,360,305 #* United Community Financial Corp. 2,218 8,872 United Financial Bancorp, Inc. 96,629 1,515,143 United Fire Group, Inc. 118,756 3,764,565 #* United Security Bancshares 1,123 5,773 Unity Bancorp, Inc. 3,489 25,853 # Universal Insurance Holdings, Inc. 162,232 1,271,899 Univest Corp. of Pennsylvania 42,883 856,374 Validus Holdings, Ltd. 382,593 15,104,772 # ViewPoint Financial Group, Inc. 71,766 1,565,216 * Virginia Commerce Bancorp, Inc. 135,705 2,175,351 # VSB Bancorp, Inc. 80 842 #* Walker & Dunlop, Inc. 64,037 831,200 Washington Banking Co. 26,133 444,522 Washington Federal, Inc. 340,942 7,766,659 # Washington Trust Bancorp, Inc. 60,295 1,983,103 #* Waterstone Financial, Inc. 7,928 84,354 Wayne Savings Bancshares, Inc. 120 1,242 Webster Financial Corp. 253,863 7,080,239 # WesBanco, Inc. 118,609 3,487,105 West BanCorp., Inc. 58,779 812,326 * Western Alliance Bancorp 280,258 5,927,457 Westfield Financial, Inc. 131,049 944,863 Wilshire Bancorp, Inc. 351,642 2,978,408 # Wintrust Financial Corp. 216,755 9,431,010 U.S. TARGETED VALUE PORTFOLIO CONTINUED SHARES VALUE+ ------- -------------- Financials -- (Continued) WSFS Financial Corp. 9,221 $ 645,562 WVS Financial Corp. 111 1,228 * Yadkin Financial Corp. 753 12,364 Zions BanCorp. 790,545 22,427,762 * ZipRealty, Inc. 93,955 516,753 -------------- Total Financials 1,075,124,885 -------------- Health Care -- (5.5%) * Addus HomeCare Corp. 26,022 672,669 Aetna, Inc. 37,357 2,342,284 #* Affymetrix, Inc. 448,440 3,170,471 #* Albany Molecular Research, Inc. 143,811 1,883,924 * Alere, Inc. 336,375 11,345,929 * Allied Healthcare Products 1,097 2,556 Almost Family, Inc. 43,727 840,870 * Alphatec Holdings, Inc. 147,075 267,676 #* Amedisys, Inc. 168,789 2,747,885 #* American Shared Hospital Services 4,548 11,074 #* Amicus Therapeutics, Inc. 3,700 7,844 * AMN Healthcare Services, Inc. 93,637 1,161,099 * Amsurg Corp. 163,941 7,031,429 Analogic Corp. 40,749 3,758,280 * AngioDynamics, Inc. 136,517 2,146,047 * Anika Therapeutics, Inc. 73,307 2,189,680 * Arqule, Inc. 8,633 19,424 #* AVEO Pharmaceuticals, Inc. 12,600 26,082 #* Baxano Surgical, Inc. 97,586 118,079 * BioScrip, Inc. 266,195 1,866,027 * BioTelemetry, Inc. 105,109 960,696 * Cambrex Corp. 150,781 2,536,136 Cantel Medical Corp. 144,427 5,069,388 #* Capital Senior Living Corp. 136,755 3,033,226 * Chindex International, Inc. 6,388 107,510 * Codexis, Inc. 3,757 6,537 Community Health Systems, Inc. 490,559 21,403,089 CONMED Corp. 141,317 5,125,568 * Cross Country Healthcare, Inc. 121,342 720,771 # CryoLife, Inc. 81,378 731,588 #* Cumberland Pharmaceuticals, Inc. 90,380 441,958 #* Cutera, Inc. 72,520 728,826 * Cynosure, Inc. Class A 57,163 1,235,292 * Digirad Corp. 88,544 294,852 * Emergent Biosolutions, Inc. 92,356 1,803,713 * Enzo Biochem, Inc. 132,897 330,914 # Enzon Pharmaceuticals, Inc. 79,602 117,811 * Exactech, Inc. 38,546 874,994 #* ExamWorks Group, Inc. 29,669 766,944 * Five Star Quality Care, Inc. 215,512 1,092,646 #* Furiex Pharmaceuticals, Inc. 10,318 403,434 * Gentiva Health Services, Inc. 127,589 1,460,894 * Greatbatch, Inc. 135,788 5,176,239 #* Hanger, Inc. 73,885 2,711,579 U.S. TARGETED VALUE PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Health Care -- (Continued) * Harvard Bioscience, Inc. 148,840 $ 876,668 #* HealthStream, Inc. 34,105 1,218,231 #* Healthways, Inc. 204,778 1,972,012 Hi-Tech Pharmacal Co., Inc. 57,671 2,485,043 Hill-Rom Holdings, Inc. 28,554 1,178,995 #* Hologic, Inc. 373,058 8,352,769 #* Horizon Pharma, Inc. 34,063 142,724 * ICU Medical, Inc. 16,863 1,042,133 #* Idera Pharmaceuticals, Inc. 141,206 259,819 * Impax Laboratories, Inc. 52,432 1,062,272 # Invacare Corp. 162,215 3,482,756 * Iridex Corp. 918 5,480 Kewaunee Scientific Corp. 7,798 135,373 Kindred Healthcare, Inc. 301,101 4,179,282 * Lannett Co., Inc. 97,301 2,297,277 LeMaitre Vascular, Inc. 73,991 594,888 * LHC Group, Inc. 79,076 1,628,966 * LifePoint Hospitals, Inc. 233,325 12,048,903 * Magellan Health Services, Inc. 137,122 8,049,061 (d)* Maxygen, Inc. 172,517 5,175 * MedAssets, Inc. 170,055 3,916,367 (d)* MedCath Corp. 103,153 141,320 * Medical Action Industries, Inc. 90,546 548,709 * MediciNova, Inc. 23,798 58,781 #* Merit Medical Systems, Inc. 28,739 459,537 * Misonix, Inc. 5,883 24,591 * Molina Healthcare, Inc. 276,308 8,742,385 #* Momenta Pharmaceuticals, Inc. 41,443 679,251 # National Healthcare Corp. 25,110 1,214,822 * Natus Medical, Inc. 159,489 3,146,718 * NuVasive, Inc. 69,920 2,222,058 #* Ocera Therapeutics, Inc. 1,300 10,062 Omnicare, Inc. 597,354 32,944,073 * Omnicell, Inc. 212,175 4,894,877 * OraSure Technologies, Inc. 8,200 53,464 * Orthofix International NV 2,900 59,421 # Owens & Minor, Inc. 53,323 1,995,347 #* Pacific Biosciences of California, Inc. 74,676 306,918 #* PDI, Inc. 51,576 246,018 #* PharMerica Corp. 139,837 2,063,994 * PhotoMedex, Inc. 6,849 86,571 #* Pozen, Inc. 85,751 538,945 * Providence Service Corp. (The) 56,478 1,688,127 #* Repligen Corp. 112,834 1,234,404 #* Rigel Pharmaceuticals, Inc. 9,300 28,737 * Rochester Medical Corp. 26,852 536,503 * RTI Biologics, Inc. 275,919 769,814 #* Sciclone Pharmaceuticals, Inc. 334,998 1,584,541 Select Medical Holdings Corp. 207,614 1,760,567 #* Skilled Healthcare Group, Inc. Class A 59,516 253,538 #* Solta Medical, Inc. 190,127 351,735 Span-America Medical Systems, Inc. 4,850 91,422 U.S. TARGETED VALUE PORTFOLIO CONTINUED SHARES VALUE+ ------- ------------ Health Care -- (Continued) #* Sucampo Pharmaceuticals, Inc. Class A 55,519 $ 344,218 * SurModics, Inc. 21,216 500,273 * Symmetry Medical, Inc. 193,018 1,563,446 * Targacept, Inc. 23,151 109,967 # Teleflex, Inc. 140,588 12,959,402 #* Transcept Pharmaceuticals, Inc. 61,189 225,176 #* Triple-S Management Corp. Class B 94,561 1,684,131 Universal American Corp. 378,020 2,804,908 * VCA Antech, Inc. 91,326 2,598,225 #* ViroPharma, Inc. 370,224 14,372,096 #* Wright Medical Group, Inc. 241,450 6,560,196 ------------ Total Health Care 266,137,416 ------------ Industrials -- (13.6%) # AAR Corp. 206,357 6,042,133 # ABM Industries, Inc. 204,333 5,621,201 # Acacia Research Corp. 13,695 206,658 #* ACCO Brands Corp. 129,363 756,774 #* Accuride Corp. 22,927 103,172 Aceto Corp. 152,615 2,434,209 Acme United Corp. 12,718 186,192 # Acorn Energy, Inc. 29,843 112,210 * Adept Technology, Inc. 60,855 506,314 * AECOM Technology Corp. 333,821 10,608,831 * Aegion Corp. 186,883 3,831,101 * AeroCentury Corp. 782 15,640 #* Aerovironment, Inc. 139,035 3,769,239 AGCO Corp. 223,919 13,072,391 * Air Transport Services Group, Inc. 303,540 2,197,630 Aircastle, Ltd. 170,702 3,221,147 Alamo Group, Inc. 62,933 2,969,808 Albany International Corp. Class A 141,082 5,193,228 Alliant Techsystems, Inc. 2,986 325,086 (d) Allied Defense Group, Inc. (The) 20,781 109,100 Allied Motion Technologies, Inc. 6,010 57,396 Altra Holdings, Inc. 157,795 4,792,234 AMERCO 84,246 17,011,795 #* Ameresco, Inc. Class A 11,550 120,813 # American Railcar Industries, Inc. 121,307 4,968,735 American Science & Engineering, Inc. 1,281 84,264 #* American Superconductor Corp. 54,350 118,483 * American Woodmark Corp. 22,589 766,219 Ampco-Pittsburgh Corp. 32,333 595,251 * AMREP Corp. 7,243 58,306 # Apogee Enterprises, Inc. 141,135 4,414,703 Applied Industrial Technologies, Inc. 11,969 566,253 * ARC Document Solutions, Inc. 94,568 590,104 Argan, Inc. 5,994 133,367 # Arkansas Best Corp. 152,757 4,180,959 #* Ascent Solar Technologies, Inc. 31,847 29,936 Astec Industries, Inc. 79,925 2,702,264 * Atlas Air Worldwide Holdings, Inc. 151,882 5,624,190 U.S. TARGETED VALUE PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Industrials -- (Continued) #* Avalon Holdings Corp. Class A 1,925 $ 9,972 * Avis Budget Group, Inc. 665,365 20,845,885 Baltic Trading, Ltd. 36,740 164,595 Barnes Group, Inc. 231,549 8,229,251 Barrett Business Services, Inc. 47,782 3,978,807 #* BlueLinx Holdings, Inc. 217,402 404,368 Brady Corp. Class A 84,723 2,473,064 * Breeze-Eastern Corp. 37,653 351,114 # Briggs & Stratton Corp. 259,610 4,761,247 * CAI International, Inc. 79,003 1,729,376 * Casella Waste Systems, Inc. Class A 63,044 372,590 #* CBIZ, Inc. 185,642 1,514,839 CDI Corp. 102,838 1,650,550 # Ceco Environmental Corp. 34,172 603,136 # Celadon Group, Inc. 132,598 2,458,367 # Chicago Rivet & Machine Co. 2,310 76,692 CIRCOR International, Inc. 84,843 6,258,868 * Columbus McKinnon Corp. 92,002 2,392,972 Comfort Systems USA, Inc. 182,974 3,408,806 # Compx International, Inc. 5,019 71,220 Con-way, Inc. 79,956 3,294,187 * Consolidated Graphics, Inc. 64,334 4,123,166 * Costa, Inc. 45,031 906,024 Courier Corp. 52,547 892,774 Covanta Holding Corp. 117,796 2,022,557 * Covenant Transportation Group, Inc. Class A 41,614 271,739 #* CPI Aerostructures, Inc. 30,852 382,565 * CRA International, Inc. 46,319 882,377 Cubic Corp. 3,814 200,235 Curtiss-Wright Corp. 244,099 12,151,248 * DigitalGlobe, Inc. 29,680 944,418 * Dolan Co. (The) 107,835 277,136 Douglas Dynamics, Inc. 100,626 1,526,496 #* Ducommun, Inc. 49,344 1,226,692 * Dycom Industries, Inc. 143,346 4,250,209 Dynamic Materials Corp. 41,438 915,780 #* Eagle Bulk Shipping, Inc. 3,852 21,417 Eastern Co. (The) 10,824 179,137 Ecology and Environment, Inc. Class A 8,425 92,675 # Encore Wire Corp. 108,581 5,378,017 #* Energy Recovery, Inc. 67,980 397,003 #* EnerNOC, Inc. 117,497 1,953,975 # EnerSys, Inc. 132,748 8,807,830 * Engility Holdings, Inc. 23,559 729,622 Ennis, Inc. 141,695 2,515,086 #* EnPro Industries, Inc. 106,165 6,334,866 ESCO Technologies, Inc. 93,032 3,356,595 # Espey Manufacturing & Electronics Corp. 6,395 207,838 * Esterline Technologies Corp. 145,640 11,674,502 * Federal Signal Corp. 280,838 3,844,672 * Flow International Corp. 220,894 881,367 * Franklin Covey Co. 119,121 2,239,475 U.S. TARGETED VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Industrials -- (Continued) # FreightCar America, Inc. 60,137 $ 1,337,447 #* FTI Consulting, Inc. 179,662 7,290,684 * Fuel Tech, Inc. 30,926 140,095 * Furmanite Corp. 94,908 1,067,715 G&K Services, Inc. Class A 94,720 5,910,528 GATX Corp. 229,076 11,808,868 #* Genco Shipping & Trading, Ltd. 216,727 578,661 * Gencor Industries, Inc. 16,355 149,321 Generac Holdings, Inc. 315 15,545 # General Cable Corp. 278,409 9,168,008 * Gibraltar Industries, Inc. 145,546 2,330,191 Global Power Equipment Group, Inc. 6,741 137,247 #* Goldfield Corp. (The) 11,785 22,392 * GP Strategies Corp. 86,740 2,430,455 #* GrafTech International, Ltd. 60,134 535,193 Granite Construction, Inc. 192,577 6,229,866 # Great Lakes Dredge & Dock Corp. 297,689 2,417,235 #* Greenbrier Cos., Inc. 144,550 3,836,357 # Griffon Corp. 279,210 3,498,501 * H&E Equipment Services, Inc. 155,099 3,882,128 Hardinge, Inc. 51,860 767,009 # Harsco Corp. 87,555 2,441,033 #* Hawaiian Holdings, Inc. 314,551 2,595,046 Heidrick & Struggles International, Inc. 81,043 1,500,916 * Hill International, Inc. 125,857 432,948 # Houston Wire & Cable Co. 133,594 1,852,949 * Hub Group, Inc. Class A 8,785 322,673 * Hudson Global, Inc. 125,898 409,169 Hurco Cos., Inc. 34,584 846,962 * Huron Consulting Group, Inc. 32,744 1,917,816 Hyster-Yale Materials Handling, Inc. 65,970 5,174,687 #* ICF International, Inc. 69,241 2,397,123 * II-VI, Inc. 5,858 99,937 #* InnerWorkings, Inc. 8,228 78,742 # Innovative Solutions & Support, Inc. 44,641 351,771 Insteel Industries, Inc. 84,828 1,407,297 * Integrated Electrical Services, Inc. 33,463 155,938 # International Shipholding Corp. 25,776 639,760 # Intersections, Inc. 43,923 376,420 #* JetBlue Airways Corp. 1,508,464 10,695,010 Kadant, Inc. 36,328 1,300,542 # Kaman Corp. 21,574 802,121 # Kelly Services, Inc. Class A 168,394 3,512,699 * Key Technology, Inc. 23,834 344,878 Kforce, Inc. 1,104 21,738 Kimball International, Inc. Class B 154,546 1,808,188 # Knight Transportation, Inc. 144,387 2,450,247 * Korn/Ferry International 187,754 4,468,545 #* Kratos Defense & Security Solutions, Inc. 164,831 1,397,767 * Lawson Products, Inc. 39,074 512,651 #* Layne Christensen Co. 99,974 1,933,497 LB Foster Co. Class A 42,690 1,995,758 U.S. TARGETED VALUE PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Industrials -- (Continued) #* LMI Aerospace, Inc. 63,379 $ 995,050 LS Starrett Co. (The) Class A 22,027 250,447 LSI Industries, Inc. 107,928 994,017 * Lydall, Inc. 82,151 1,496,791 Manpowergroup, Inc. 112,752 8,805,931 Marten Transport, Ltd. 156,111 2,753,798 #* MasTec, Inc. 68,804 2,199,664 Mastech Holdings, Inc. 1,502 21,899 Matson, Inc. 178,293 4,829,957 # McGrath RentCorp 92,761 3,308,785 * Metalico, Inc. 234,285 384,227 * Mfri, Inc. 27,948 330,904 Miller Industries, Inc. 63,420 1,188,491 * Mistras Group, Inc. 3,200 58,752 #* Mobile Mini, Inc. 251,469 9,083,060 * Moog, Inc. Class A 58,318 3,483,334 Mueller Industries, Inc. 112,729 6,796,431 Mueller Water Products, Inc. Class A 613,251 5,255,561 Multi-Color Corp. 43,038 1,499,014 * MYR Group, Inc. 111,080 2,938,066 National Presto Industries, Inc. 7,322 516,567 #* National Technical Systems, Inc. 27,415 627,529 * Navigant Consulting, Inc. 157,743 2,736,841 # NL Industries, Inc. 87,722 1,022,839 NN, Inc. 86,492 1,390,791 * Northwest Pipe Co. 44,852 1,616,018 #* Ocean Power Technologies, Inc. 41,206 96,834 * On Assignment, Inc. 203,682 6,882,415 * Orbital Sciences Corp. 153,807 3,548,327 * Orion Energy Systems, Inc. 48,800 207,400 * Orion Marine Group, Inc. 51,913 648,913 * Oshkosh Corp. 74,761 3,557,876 * Owens Corning 624,093 22,423,661 #* Pacer International, Inc. 149,317 1,191,550 PAM Transportation Services, Inc. 37,772 657,233 * Park-Ohio Holdings Corp. 999 41,369 * Patrick Industries, Inc. 9,440 295,283 #* Patriot Transportation Holding, Inc. 5,557 205,442 * Pendrell Corp. 20,276 45,215 * PGT, Inc. 81,174 848,268 Pike Electric Corp. 156,502 1,691,787 * Powell Industries, Inc. 37,553 2,359,455 #* PowerSecure International, Inc. 93,405 1,688,762 Preformed Line Products Co. 18,849 1,583,693 Providence and Worcester Railroad Co. 2,267 46,405 Quad/Graphics, Inc. 24,994 872,790 # Quanex Building Products Corp. 112,552 2,001,175 * Quanta Services, Inc. 315,499 9,531,225 RCM Technologies, Inc. 38,007 245,145 * Republic Airways Holdings, Inc. 242,281 2,854,070 Resources Connection, Inc. 118,691 1,514,497 * Roadrunner Transportation Systems, Inc. 51,275 1,358,788 U.S. TARGETED VALUE PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Industrials -- (Continued) * RPX Corp. 40,700 $ 726,902 #* Rush Enterprises, Inc. Class A 139,034 3,979,153 * Rush Enterprises, Inc. Class B 1,650 40,112 Ryder System, Inc. 309,611 20,381,692 * Saia, Inc. 124,769 4,058,736 Schawk, Inc. 88,944 1,300,361 SIFCO Industries, Inc. 15,111 335,162 Simpson Manufacturing Co., Inc. 59,748 2,118,067 SkyWest, Inc. 255,435 3,841,742 SL Industries, Inc. 15,541 419,607 * Sparton Corp. 49,588 1,308,627 #* Standard Parking Corp. 1,633 43,226 #* Standard Register Co. (The) 26,506 225,301 Standex International Corp. 58,488 3,597,597 Steelcase, Inc. Class A 40,959 671,318 * Sterling Construction Co., Inc. 77,398 743,021 * Supreme Industries, Inc. Class A 1,617 9,896 Sypris Solutions, Inc. 30,619 97,675 # TAL International Group, Inc. 203,187 9,815,964 #* Tecumseh Products Co. Class A 48,641 379,400 * Tecumseh Products Co. Class B 2,547 18,568 * Terex Corp. 199,602 6,976,090 * Tetra Tech, Inc. 111,318 2,908,739 # Textainer Group Holdings, Ltd. 10,689 405,113 # Titan International, Inc. 150,363 2,180,264 #* Titan Machinery, Inc. 121,425 2,141,937 # Trinity Industries, Inc. 485,295 24,570,486 * TrueBlue, Inc. 2,113 52,191 * Tutor Perini Corp. 220,097 5,051,226 # Twin Disc, Inc. 46,249 1,196,462 * Ultralife Corp. 84,726 330,431 UniFirst Corp. 74,735 7,684,253 # United Stationers, Inc. 103,161 4,584,475 Universal Forest Products, Inc. 93,810 4,964,425 * Universal Power Group, Inc. 1,342 1,678 #* Universal Security Instruments, Inc. 1,053 5,028 # Universal Truckload Services, Inc. 23,168 617,659 URS Corp. 366,165 19,853,466 * USA Truck, Inc. 51,322 681,556 # UTi Worldwide, Inc. 161,095 2,448,644 * Versar, Inc. 35,947 170,029 Viad Corp. 100,377 2,680,066 #* Virco Manufacturing Corp. 19,199 38,974 * Volt Information Sciences, Inc. 55,204 480,275 VSE Corp. 7,198 315,272 # Watts Water Technologies, Inc. Class A 144,348 8,340,427 # Werner Enterprises, Inc. 120,250 2,784,990 #* Wesco Aircraft Holdings, Inc. 18,623 341,173 * Willdan Group, Inc. 3,123 11,930 * Willis Lease Finance Corp. 12,818 223,418 U.S. TARGETED VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- ------------ Industrials -- (Continued) * XPO Logistics, Inc. 70,646 $ 1,425,636 ------------ Total Industrials 659,093,791 ------------ Information Technology -- (12.8%) * Accelrys, Inc. 258,849 2,420,238 * Active Network, Inc. (The) 55,781 805,478 * Acxiom Corp. 117,570 3,906,851 * ADDvantage Technologies Group, Inc. 4,567 12,103 # ADTRAN, Inc. 23,012 540,322 * Advanced Energy Industries, Inc. 217,892 4,549,585 * Aeroflex Holding Corp. 117,613 911,501 * Agilysys, Inc. 88,556 1,040,533 #* Alpha & Omega Semiconductor, Ltd. 28,505 209,797 #* Amkor Technology, Inc. 343,549 1,824,245 * Amtech Systems, Inc. 50,698 405,584 #* ANADIGICS, Inc. 247,601 500,154 * Anaren, Inc. 72,157 1,802,482 # AOL, Inc. 416,163 15,081,747 #* Applied Micro Circuits Corp. 153,365 1,788,236 * ARRIS Group, Inc. 522,176 9,326,063 * Arrow Electronics, Inc. 462,647 22,216,309 * AsiaInfo-Linkage, Inc. 29,456 341,690 Astro-Med, Inc. 22,284 282,561 * ATMI, Inc. 165,957 4,537,264 * Aviat Networks, Inc. 254,758 524,801 #* Avid Technology, Inc. 174,959 1,303,445 Avnet, Inc. 602,535 23,920,640 AVX Corp. 432,714 5,733,461 # Aware, Inc. 55,296 289,198 * Axcelis Technologies, Inc. 120,407 261,283 * AXT, Inc. 186,167 420,737 #* Bankrate, Inc. 55,091 927,732 # Bel Fuse, Inc. Class A 1,820 37,528 Bel Fuse, Inc. Class B 46,351 975,225 * Benchmark Electronics, Inc. 298,403 6,782,700 # Black Box Corp. 82,688 2,070,508 #* Blucora, Inc. 226,372 5,349,170 #* BroadVision, Inc. 22,469 217,725 * Brocade Communications Systems, Inc. 1,540,792 12,357,152 Brooks Automation, Inc. 307,453 2,963,847 #* Bsquare Corp. 18,261 58,800 #* BTU International, Inc. 17,003 56,280 #* CACI International, Inc. Class A 140,211 10,092,388 * Calix, Inc. 191,067 1,943,151 * Cascade Microtech, Inc. 44,792 458,670 #* Ceva, Inc. 16,266 233,092 * Checkpoint Systems, Inc. 166,623 2,835,923 * CIBER, Inc. 350,209 1,138,179 Coherent, Inc. 72,101 4,772,365 Cohu, Inc. 106,665 1,019,717 Communications Systems, Inc. 39,335 448,812 Comtech Telecommunications Corp. 123,702 3,713,534 U.S. TARGETED VALUE PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Information Technology -- (Continued) Concurrent Computer Corp. 41,378 $ 304,956 # Convergys Corp. 590,305 11,652,621 * CoreLogic, Inc. 163,588 5,442,573 #* Cray, Inc. 130,925 2,927,483 #* Cree, Inc. 26,662 1,619,717 # CSG Systems International, Inc. 80,273 2,236,406 CTS Corp. 162,305 3,022,119 * CyberOptics Corp. 23,180 117,523 Daktronics, Inc. 38,247 457,434 * Datalink Corp. 66,946 687,535 #* Dataram Corp. 381 930 * Dealertrack Technologies, Inc. 89,442 3,336,187 #* Demand Media, Inc. 13,232 63,249 * Digi International, Inc. 125,500 1,265,040 # Digimarc Corp. 3,527 74,279 * Digital River, Inc. 103,320 1,843,229 * Diodes, Inc. 69,539 1,684,235 * DSP Group, Inc. 113,470 845,352 #* DTS, Inc. 5,598 111,960 * Dynamics Research Corp. 48,381 358,019 # EarthLink, Inc. 552,396 2,795,124 * EchoStar Corp. Class A 168,595 8,085,816 * Edgewater Technology, Inc. 32,647 223,632 Electro Rent Corp. 120,680 2,189,135 Electro Scientific Industries, Inc. 134,250 1,608,315 * Electronics for Imaging, Inc. 235,046 8,064,428 #* Emcore Corp. 17,043 90,839 * Emulex Corp. 352,331 2,653,052 * Entegris, Inc. 226,551 2,344,803 #* Entropic Communications, Inc. 252,499 1,080,696 # EPIQ Systems, Inc. 145,863 2,182,110 ePlus, Inc. 38,437 2,089,435 * Euronet Worldwide, Inc. 215,513 9,353,264 * Exar Corp. 227,216 2,619,800 * Extreme Networks 463,663 2,485,234 * Fabrinet 35,237 589,867 #* Fairchild Semiconductor International, Inc. 720,838 9,133,017 * FARO Technologies, Inc. 48,176 2,288,360 * Finisar Corp. 229,371 5,277,827 #* First Solar, Inc. 629,345 31,637,173 * FormFactor, Inc. 255,570 1,334,075 Frequency Electronics, Inc. 29,641 329,312 * Global Cash Access Holdings, Inc. 47,214 391,876 * Globecomm Systems, Inc. 121,921 1,710,552 * GSE Systems, Inc. 70,034 119,058 * GSI Group, Inc. 21,913 218,692 * GSI Technology, Inc. 119,649 839,936 Hackett Group, Inc. (The) 176,269 1,255,035 * Harmonic, Inc. 445,396 3,255,845 * Hutchinson Technology, Inc. 88,159 327,951 #* ID Systems, Inc. 56,513 293,868 * Identive Group, Inc. 23,553 15,072 U.S. TARGETED VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Information Technology -- (Continued) * IEC Electronics Corp. 6,344 $ 27,279 * Ikanos Communications, Inc. 49,085 64,301 * Imation Corp. 171,828 799,000 #* Infinera Corp. 101,795 1,039,327 * Ingram Micro, Inc. Class A 737,900 17,097,143 * Innodata, Inc. 4,088 9,811 #* Inphi Corp. 17,230 253,970 * Insight Enterprises, Inc. 219,712 4,629,332 * Integrated Device Technology, Inc. 548,711 5,838,285 * Integrated Silicon Solution, Inc. 136,879 1,475,556 * Internap Network Services Corp. 336,121 2,443,600 #* International Rectifier Corp. 384,155 10,003,396 * Interphase Corp. 27,282 111,038 # Intersil Corp. Class A 703,703 7,853,325 * Intevac, Inc. 102,204 521,240 * IntraLinks Holdings, Inc. 32,540 338,091 * IntriCon Corp. 10,021 44,393 #* Itron, Inc. 56,845 2,425,576 IXYS Corp. 143,506 1,668,975 #* Kemet Corp. 113,781 645,138 * Key Tronic Corp. 56,373 611,647 #* Kopin Corp. 235,036 862,582 * Kulicke & Soffa Industries, Inc. 387,503 4,998,789 * KVH Industries, Inc. 116,478 1,600,408 * Lattice Semiconductor Corp. 458,413 2,351,659 # Lexmark International, Inc. Class A 238,481 8,478,000 #* Limelight Networks, Inc. 177,660 341,107 * LoJack Corp. 32,631 142,924 * LTX-Credence Corp. 195,071 1,195,785 * Magnachip Semiconductor Corp. 105,515 1,972,075 # ManTech International Corp. Class A 108,645 3,035,541 Marchex, Inc. Class B 111,980 998,862 Marvell Technology Group, Ltd. 1,425,540 17,106,480 * Mattson Technology, Inc. 50,165 148,488 #* Maxwell Technologies, Inc. 43,723 327,923 * Measurement Specialties, Inc. 72,425 4,036,245 Mentor Graphics Corp. 364,383 8,045,577 #* Mercury Systems, Inc. 103,733 956,418 Methode Electronics, Inc. 242,823 6,211,412 * Microsemi Corp. 164,882 4,143,485 MKS Instruments, Inc. 284,619 8,436,107 * ModusLink Global Solutions, Inc. 170,782 703,622 #* Monster Worldwide, Inc. 205,453 887,557 #* MoSys, Inc. 24,296 106,902 * Multi-Fineline Electronix, Inc. 84,449 1,132,461 #* Nanometrics, Inc. 56,705 1,053,579 * NAPCO Security Technologies, Inc. 33,409 187,759 * NCI, Inc. Class A 2,523 14,381 #* NeoPhotonics Corp. 11,456 81,223 * NETGEAR, Inc. 3,750 107,850 * Newport Corp. 188,356 2,989,210 * Novatel Wireless, Inc. 117,883 361,311 U.S. TARGETED VALUE PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Information Technology -- (Continued) #* Oclaro, Inc. 176,112 $ 359,268 * Official Payments Holdings, Inc. 3,841 32,034 #* OmniVision Technologies, Inc. 357,023 5,001,892 * Oplink Communications, Inc. 116,079 2,118,442 Optical Cable Corp. 28,064 111,975 * PAR Technology Corp. 55,165 306,717 Park Electrochemical Corp. 43,092 1,208,731 PC Connection, Inc. 116,384 2,326,516 PC-Tel, Inc. 34,660 319,219 * PCM, Inc. 51,256 539,213 * PDF Solutions, Inc. 26,035 598,024 Perceptron, Inc. 38,663 540,895 * Perficient, Inc. 169,924 3,073,925 * Performance Technologies, Inc. 54,791 169,852 * Pericom Semiconductor Corp. 123,556 998,332 #* Photronics, Inc. 311,067 2,612,963 * Planar Systems, Inc. 54,660 114,239 * Plexus Corp. 37,995 1,454,449 * PLX Technology, Inc. 49,707 300,230 * PMC - Sierra, Inc. 845,997 4,966,002 #* Polycom, Inc. 131,319 1,365,718 #* Procera Networks, Inc. 6,813 96,404 * Progress Software Corp. 67,018 1,739,787 * QLogic Corp. 91,923 1,135,249 * Qualstar Corp. 33,400 43,754 * QuinStreet, Inc. 36,950 328,486 * Qumu Corp. 41,482 621,400 #* Radisys Corp. 121,573 367,150 #* Rambus, Inc. 97,766 854,475 * RealNetworks, Inc. 146,420 1,123,041 #* Reis, Inc. 44,432 799,332 * Relm Wireless Corp. 2,200 5,786 # RF Industries, Ltd. 28,609 262,917 #* RF Micro Devices, Inc. 102,140 536,235 Richardson Electronics, Ltd. 77,071 887,858 * Rofin-Sinar Technologies, Inc. 38,668 1,015,035 * Rogers Corp. 28,203 1,719,255 * Rosetta Stone, Inc. 59,134 897,654 * Rovi Corp. 158,431 2,655,304 #* Rubicon Technology, Inc. 45,323 389,778 #* Rudolph Technologies, Inc. 170,691 1,809,325 * Sanmina Corp. 374,464 5,452,196 * ScanSource, Inc. 59,795 2,299,716 * Seachange International, Inc. 180,054 2,554,966 * Selectica, Inc. 916 6,210 * ShoreTel, Inc. 97,043 771,492 * Sigma Designs, Inc. 155,198 844,277 * Silicon Image, Inc. 232,200 1,219,050 #* Smith Micro Software, Inc. 87,329 70,736 * SMTC Corp. 30,286 59,058 #* Sonus Networks, Inc. 556,466 1,669,398 #* Spansion, Inc. Class A 141,425 1,692,857 U.S. TARGETED VALUE PORTFOLIO CONTINUED SHARES VALUE+ ------- ------------ Information Technology -- (Continued) #* Speed Commerce, Inc. 3,267 $ 11,990 #* StarTek, Inc. 58,117 363,812 #* SunEdison, Inc. 627,039 5,831,463 #* SunPower Corp. 399,064 12,047,742 * Super Micro Computer, Inc. 10,860 151,171 Supertex, Inc. 26,804 683,770 * support.com, Inc. 150,980 673,371 #* Sykes Enterprises, Inc. 187,411 3,508,334 * Symmetricom, Inc. 192,286 1,378,691 * SYNNEX Corp. 191,618 11,746,183 * Tech Data Corp. 261,278 13,602,133 * TeleCommunication Systems, Inc. Class A 254,011 579,145 * Telenav, Inc. 28,558 207,046 Tellabs, Inc. 687,000 1,676,280 # Tessco Technologies, Inc. 38,995 1,381,593 Tessera Technologies, Inc. 279,937 5,324,402 * TheStreet, Inc. 103,777 243,876 #* Trio Tech International 979 3,280 * TriQuint Semiconductor, Inc. 958,540 7,601,222 * Trulia, Inc. 11,549 461,614 * TTM Technologies, Inc. 260,340 2,277,975 * Ultra Clean Holdings 43,949 409,165 United Online, Inc. 602,813 5,208,304 * UTStarcom Holdings Corp. 17,484 48,955 #* Veeco Instruments, Inc. 107,512 3,140,426 * VeriFone Systems, Inc. 63,000 1,427,580 #* ViaSat, Inc. 11,408 754,297 #* Viasystems Group, Inc. 113,088 1,696,320 * Vicon Industries, Inc. 22,202 65,496 * Video Display Corp. 10,067 36,443 #* Virtusa Corp. 113,124 3,515,894 #* Vishay Intertechnology, Inc. 754,072 9,252,463 * Vishay Precision Group, Inc. 54,769 898,212 * Vocus, Inc. 9,942 85,998 Wayside Technology Group, Inc. 4,635 60,719 #* Web.com Group, Inc. 55,815 1,504,214 #* Westell Technologies, Inc. Class A 107,872 387,260 * XO Group, Inc. 134,375 1,865,125 Xyratex, Ltd. 103,080 1,024,615 * Zygo Corp. 74,649 1,152,581 #* Zynga, Inc. Class A 771,430 2,769,434 ------------ Total Information Technology 616,764,408 ------------ Materials -- (6.5%) A Schulman, Inc. 147,127 4,872,846 # Allegheny Technologies, Inc. 213,762 7,075,522 #* Allied Nevada Gold Corp. 27,900 113,832 #* AM Castle & Co. 109,790 1,571,095 # AMCOL International Corp. 4,901 157,224 * American Pacific Corp. 25,583 1,164,538 #* Arabian American Development Co. 4,049 36,846 Ashland, Inc. 43,740 4,048,137 U.S. TARGETED VALUE PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Materials -- (Continued) Axiall Corp. 132,689 $ 5,160,275 Cabot Corp. 27,117 1,263,923 #* Century Aluminum Co. 454,590 3,945,841 # Chase Corp. 23,780 719,583 * Chemtura Corp. 122,156 2,992,822 * Clearwater Paper Corp. 39,463 2,060,758 # Cliffs Natural Resources, Inc. 516,982 13,276,098 * Coeur d'Alene Mines Corp. 448,217 5,472,730 Commercial Metals Co. 656,055 12,045,170 #* Continental Materials Corp. 125 2,186 * Core Molding Technologies, Inc. 31,258 337,586 Domtar Corp. 175,031 14,826,876 * Ferro Corp. 296,418 3,803,043 Friedman Industries, Inc. 32,585 323,243 FutureFuel Corp. 61,861 1,077,000 #* General Moly, Inc. 7,700 12,628 #* Golden Minerals Co. 13,557 10,439 * Graphic Packaging Holding Co. 302,690 2,542,596 Hawkins, Inc. 229 8,246 Haynes International, Inc. 34,467 1,857,771 HB Fuller Co. 94,211 4,509,881 # Hecla Mining Co. 536,703 1,674,513 #* Horsehead Holding Corp. 219,020 3,177,980 Innophos Holdings, Inc. 1,901 95,278 # Intrepid Potash, Inc. 61,541 913,884 # Kaiser Aluminum Corp. 97,047 6,545,820 KapStone Paper and Packaging Corp. 250,140 12,997,274 # KMG Chemicals, Inc. 28,353 566,493 * Kraton Performance Polymers, Inc. 81,658 1,736,866 #* Landec Corp. 140,041 1,639,880 * Louisiana-Pacific Corp. 275,165 4,680,557 * LSB Industries, Inc. 2,186 80,270 Materion Corp. 100,067 2,982,997 #* McEwen Mining, Inc. 397,880 851,463 MeadWestvaco Corp. 171,264 5,968,550 #* Mercer International, Inc. 217,426 1,739,408 Minerals Technologies, Inc. 134,284 7,604,503 Myers Industries, Inc. 187,489 3,341,054 Neenah Paper, Inc. 77,030 3,169,014 # Noranda Aluminum Holding Corp. 42,266 114,964 * Northern Technologies International Corp. 6,949 118,203 # Olin Corp. 317,116 7,138,281 Olympic Steel, Inc. 56,163 1,537,181 #* OM Group, Inc. 160,504 5,457,136 * OMNOVA Solutions, Inc. 28,272 245,966 * Penford Corp. 52,958 720,229 PH Glatfelter Co. 240,760 6,307,912 PolyOne Corp. 25,154 762,166 Reliance Steel & Aluminum Co. 404,807 29,668,305 * Resolute Forest Products, Inc. 53,880 861,541 Rock Tenn Co. Class A 178,696 19,122,259 #* RTI International Metals, Inc. 173,122 5,868,836 U.S. TARGETED VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- ------------ Materials -- (Continued) # Schnitzer Steel Industries, Inc. Class A 139,192 $ 4,042,136 Sealed Air Corp. 79,558 2,401,061 Sensient Technologies Corp. 144,994 7,558,537 Steel Dynamics, Inc. 904,475 16,253,416 Stepan Co. 535 31,496 * Stillwater Mining Co. 553,901 6,043,060 * SunCoke Energy, Inc. 261,295 5,225,900 # Synalloy Corp. 12,873 207,127 * Texas Industries, Inc. 125,798 6,755,353 # Tredegar Corp. 21,600 631,152 Tronox, Ltd. Class A 35,464 818,864 * United States Lime & Minerals, Inc. 6,920 384,475 # United States Steel Corp. 404,193 10,060,364 #* Universal Stainless & Alloy Products, Inc. 35,038 1,132,428 # Vulcan Materials Co. 13,331 713,875 # Walter Energy, Inc. 22,100 351,169 Wausau Paper Corp. 180,883 2,116,331 Westlake Chemical Corp. 54,789 5,885,434 Worthington Industries, Inc. 178,615 7,241,052 Zep, Inc. 9,127 181,536 * Zoltek Cos., Inc. 172,067 2,873,519 ------------ Total Materials 313,885,803 ------------ Other -- (0.0%) (d)* FRD Acquisition Co Escrow Shares 55,628 -- (d)* Gerber Scientific, Inc. Escrow Shares 137,957 -- (d)* Price Communications Liquidation Trust 21,600 -- ------------ Total Other -- ------------ Real Estate Investment Trusts -- (0.2%) # Geo Group, Inc. (The) 205,537 7,249,290 # Ryman Hospitality Properties 16,777 619,239 ------------ Total Real Estate Investment Trusts 7,868,529 ------------ Telecommunication Services -- (1.2%) # Alteva 10,169 77,793 Atlantic Tele-Network, Inc. 11,121 616,326 * Cbeyond, Inc. 45,815 295,049 # Frontier Communications Corp. 1,911,196 8,428,374 * General Communication, Inc. Class A 259,590 2,468,701 #* Hawaiian Telcom Holdco, Inc. 2,948 78,358 # HickoryTech Corp. 51,639 690,930 IDT Corp. Class B 61,175 1,339,121 Inteliquent, Inc. 182,031 2,339,098 #* Iridium Communications, Inc. 320,634 1,933,423 * Leap Wireless International, Inc. 270,907 4,361,603 # Lumos Networks Corp. 4,260 93,763 #* NII Holdings, Inc. 68,368 235,186 #* ORBCOMM, Inc. 187,425 1,130,173 * Premiere Global Services, Inc. 222,706 2,006,581 # PTGi Holding, Inc. 13,599 47,868 U.S. TARGETED VALUE PORTFOLIO CONTINUED SHARES VALUE+ ---------- -------------- Telecommunication Services -- (Continued) Shenandoah Telecommunications Co. 15,733 $ 436,276 #* Straight Path Communications, Inc. Class B 28,787 157,177 T-Mobile US, Inc. 403,924 11,200,812 Telephone & Data Systems, Inc. 383,382 11,953,851 # United States Cellular Corp. 99,159 4,799,295 USA Mobility, Inc. 96,088 1,433,633 * Vonage Holdings Corp. 679,253 2,533,614 -------------- Total Telecommunication Services 58,657,005 -------------- Utilities -- (0.5%) # Consolidated Water Co., Ltd. 29,464 443,138 * Dynegy, Inc. 35,981 699,111 #* Genie Energy, Ltd. Class B 76,286 788,034 # Ormat Technologies, Inc. 100,726 2,625,927 # SJW Corp. 48,529 1,369,974 # UGI Corp. 424,799 17,573,935 -------------- Total Utilities 23,500,119 -------------- TOTAL COMMON STOCKS 4,177,756,406 -------------- RIGHTS/WARRANTS -- (0.0%) (d)#* Caesars Entertainment Corp. Rights 11/02/13 11,176 25,593 (d)* Capital Bank Corp. Contingent Value Rights 200 -- (d)* CVR Energy, Inc. Contingent Value Rights 317,335 -- (d)#* Magnum Hunter Resources Corp. Warrants 04/15/16 50,590 -- (d)#* PhotoMedex, Inc. Contingent Value Warrants 12/13/14 1,528 -- -------------- TOTAL RIGHTS/WARRANTS 25,593 -------------- TEMPORARY CASH INVESTMENTS -- (0.5%) State Street Institutional Liquid Reserves, 0.073% 25,534,847 25,534,847 -------------- SHARES/ FACE AMOUNT (000) ---------- SECURITIES LENDING COLLATERAL -- (12.9%) (S)@ DFA Short Term Investment Fund 53,871,979 623,298,798 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $3,493,026,078) $4,826,615,644 ============== U.S. SMALL CAP VALUE PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 SHARES VALUE+ --------- ----------- COMMON STOCKS -- (85.8%) Consumer Discretionary -- (13.8%) * 1-800-Flowers.com, Inc. Class A 199,262 $ 1,081,993 # Aaron's, Inc. 233,466 6,623,430 # AH Belo Corp. Class A 239,077 1,922,179 * ALCO Stores, Inc. 98,216 1,082,340 # Ambassadors Group, Inc. 6,586 24,302 Amcon Distributing Co. 3,567 287,143 #* Ascent Capital Group, Inc. Class A 106,156 8,961,690 * Ballantyne Strong, Inc. 309,233 1,543,073 #* Barnes & Noble, Inc. 1,665,228 23,529,672 # Bassett Furniture Industries, Inc. 200,365 2,805,110 # Beasley Broadcasting Group, Inc. Class A 75,568 655,175 # bebe stores, Inc. 338,785 2,042,874 Belo Corp. Class A 287,681 3,949,860 # Big 5 Sporting Goods Corp. 36,506 690,328 #* Biglari Holdings, Inc. 26,626 11,609,469 #* Black Diamond, Inc. 348,477 5,195,792 # Bob Evans Farms, Inc. 367,485 20,979,719 #* Body Central Corp. 44,412 248,707 # Bon-Ton Stores, Inc. (The) 60,033 687,378 #* Books-A-Million, Inc. 322,657 809,869 #* Boyd Gaming Corp. 422,688 4,463,585 #* Bridgepoint Education, Inc. 28,134 551,426 Brown Shoe Co., Inc. 614,985 13,800,263 * Build-A-Bear Workshop, Inc. 507,789 3,991,222 #* Cabela's, Inc. 730,898 43,356,869 #* Cache, Inc. 467,966 2,821,835 #* Caesars Entertainment Corp. 13,866 241,546 # Callaway Golf Co. 2,079,127 17,527,041 * Cambium Learning Group, Inc. 218,576 319,121 # Canterbury Park Holding Corp. 16,406 185,552 #* Career Education Corp. 139,217 762,909 Carriage Services, Inc. 367,201 7,377,068 #* Carrols Restaurant Group, Inc. 7,357 42,671 #* Cavco Industries, Inc. 30,342 1,777,131 #* Central European Media Enterprises, Ltd. Class A 173,781 533,508 #* Charles & Colvard, Ltd. 19,136 101,612 * Christopher & Banks Corp. 373,287 2,153,866 Churchill Downs, Inc. 6,341 544,755 #* Citi Trends, Inc. 56,783 833,574 * Coast Distribution System (The) 92,516 318,718 #* Cobra Electronics Corp. 176,106 512,468 # Collectors Universe 21,749 362,121 #* Conn's, Inc. 612,163 36,999,132 Core-Mark Holding Co., Inc. 292,172 20,665,326 #* Corinthian Colleges, Inc. 680,515 1,456,302 * Crown Media Holdings, Inc. Class A 251,867 836,198 CSS Industries, Inc. 259,352 6,714,623 Culp, Inc. 27,135 525,062 #* Cumulus Media, Inc. Class A 727,098 4,348,046 #* dELiA*s, Inc. 271,854 375,159 * Delta Apparel, Inc. 188,208 3,557,131 U.S. SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Consumer Discretionary -- (Continued) # Destination Maternity Corp. 130,640 $ 4,081,194 #* Destination XL Group, Inc. 16,651 115,724 # DeVry, Inc. 653,807 23,471,671 #* Digital Generation, Inc. 201,806 2,552,846 # Dillard's, Inc. Class A 368,350 30,197,333 * Dixie Group, Inc. (The) 293,970 3,704,022 Domino's Pizza, Inc. 182,674 12,250,118 # Dorman Products, Inc. 551,504 26,808,609 Dover Downs Gaming & Entertainment, Inc. 136,501 206,117 Dover Motorsports, Inc. 319,398 753,779 #* DreamWorks Animation SKG, Inc. Class A 497,056 17,019,197 EDCI Holdings, Inc. 70,804 46,377 #* Education Management Corp. 13,591 207,942 Educational Development Corp. 1,000 2,860 * ELXSI Corp. 15,549 152,380 * Emerson Radio Corp. 156,037 298,031 * Emmis Communications Corp. Class A 353,768 880,882 #* Entercom Communications Corp. Class A 51,279 449,717 # Escalade, Inc. 4,453 39,275 #* EW Scripps Co. Class A 1,280,475 25,379,014 #* FAB Universal Corp. 5,333 33,438 #* Federal-Mogul Corp. 391,031 8,012,225 #* Flanigan's Enterprises, Inc. 4,740 52,519 # Flexsteel Industries, Inc. 196,868 5,405,995 # Fred's, Inc. Class A 1,061,105 17,189,901 Frisch's Restaurants, Inc. 49,454 1,190,358 #* Fuel Systems Solutions, Inc. 113,529 2,038,981 #* Full House Resorts, Inc. 121,199 333,297 * Gaiam, Inc. Class A 92,238 578,332 Gaming Partners International Corp. 44,581 370,022 #* Geeknet, Inc. 61,724 1,183,866 #* Gray Television, Inc. 1,145,547 9,679,872 * Gray Television, Inc. Class A 23,767 183,481 # Group 1 Automotive, Inc. 454,558 29,091,712 #* Hallwood Group, Inc. (The) 4,538 43,361 * Hampshire Group, Ltd. 41,080 157,953 #* Harris Interactive, Inc. 186,200 353,780 Harte-Hanks, Inc. 320,747 2,556,354 # Hastings Entertainment, Inc. 298,504 614,918 # Haverty Furniture Cos., Inc. 530,173 14,744,111 Haverty Furniture Cos., Inc. Class A 5,701 159,628 * Helen of Troy, Ltd. 816,136 38,129,874 #* hhgregg, Inc. 51,621 800,642 #* Hollywood Media Corp. 474,624 887,547 # Hooker Furniture Corp. 251,365 3,971,567 #* Iconix Brand Group, Inc. 2,233,461 80,605,607 International Speedway Corp. Class A 737,579 24,126,209 #* Isle of Capri Casinos, Inc. 509,303 4,130,447 * Jaclyn, Inc. 40,909 221,931 # JAKKS Pacific, Inc. 692,157 4,457,491 # Johnson Outdoors, Inc. Class A 207,794 5,699,789 # Jones Group, Inc. (The) 2,371,771 36,857,321 U.S. SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Consumer Discretionary -- (Continued) * Journal Communications, Inc. Class A 717,363 $ 5,989,981 #* Kid Brands, Inc. 156,672 218,557 * Kona Grill, Inc. 74,031 1,016,446 La-Z-Boy, Inc. 313,644 7,238,904 #* Lakeland Industries, Inc. 141,538 768,551 * Lazare Kaplan International, Inc. 132,982 224,740 #* Lee Enterprises, Inc. 107,038 294,354 #* Libbey, Inc. 337,773 7,211,454 * Liberty Media Corp. Class B 2,215 333,956 # Lifetime Brands, Inc. 348,412 5,456,132 #* LIN Media LLC Class A 240,316 5,904,564 # Lincoln Educational Services Corp. 8,283 39,593 Lithia Motors, Inc. Class A 254,045 15,966,728 * Live Nation Entertainment, Inc. 2,980,399 57,938,957 Loral Space & Communications, Inc. 88,468 6,313,961 #* Luby's, Inc. 480,310 3,679,175 #* M/I Homes, Inc. 238,043 4,872,740 Mac-Gray Corp. 312,492 6,587,331 # Marcus Corp. 562,220 8,073,479 #* MarineMax, Inc. 624,697 9,201,787 * Marriott Vacations Worldwide Corp. 508,614 25,471,389 #* McClatchy Co. (The) Class A 1,241,657 3,501,473 McRae Industries, Inc. Class A 30,453 728,436 # MDC Holdings, Inc. 186,778 5,452,050 #* Media General, Inc. Class A 396,500 5,780,970 Men's Wearhouse, Inc. (The) 39,170 1,656,891 #* Modine Manufacturing Co. 104,745 1,395,203 * Monarch Casino & Resort, Inc. 7,579 128,161 * Motorcar Parts of America, Inc. 82,164 1,124,004 # Movado Group, Inc. 433,624 20,219,887 * MTR Gaming Group, Inc. 287,975 1,497,470 * Multimedia Games Holding Co., Inc. 4,870 158,324 # NACCO Industries, Inc. Class A 151,042 8,604,863 # National CineMedia, Inc. 24,440 428,189 #* Nautilus, Inc. 43,609 347,128 #* Nevada Gold & Casinos, Inc. 130,600 137,130 * New York & Co., Inc. 165,919 849,505 # Nexstar Broadcasting Group, Inc. Class A 66,242 2,940,482 * Nobility Homes, Inc. 12,925 119,556 OfficeMax, Inc. 568,246 8,512,325 * Orient-Express Hotels, Ltd. Class A 2,546,319 33,891,506 #* P&F Industries, Inc. Class A 24,537 189,426 #* Pacific Sunwear of California, Inc. 1,562,664 4,203,566 Penske Automotive Group, Inc. 1,250,616 49,549,406 #* Pep Boys-Manny Moe & Jack (The) 1,395,654 18,059,763 * Perfumania Holdings, Inc. 89,183 414,701 Perry Ellis International, Inc. 465,385 8,846,969 * Pinnacle Entertainment, Inc. 1,763 41,254 * Point.360 60,413 46,760 #* Premier Exhibitions, Inc. 201,518 270,034 * QEP Co., Inc. 42,217 833,786 #* Quiksilver, Inc. 1,911,680 15,905,178 U.S. SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- -------------- Consumer Discretionary -- (Continued) #* Radio One, Inc. Class D 623,107 $ 1,869,321 #* RadioShack Corp. 278,095 781,447 #* Reading International, Inc. Class A 168,095 1,112,789 #* Red Lion Hotels Corp. 529,902 3,190,010 # Regis Corp. 1,746,344 25,321,988 # Rent-A-Center, Inc. 1,772,669 60,696,187 #* Rick's Cabaret International, Inc. 231,794 2,616,954 Rocky Brands, Inc. 125,769 1,906,658 * Ruby Tuesday, Inc. 1,762,281 10,450,326 Saga Communications, Inc. Class A 155,524 7,404,498 #* Saks, Inc. 592,767 9,478,344 Salem Communications Corp. Class A 104,004 859,073 # Scholastic Corp. 1,407,493 40,380,974 Shiloh Industries, Inc. 192,329 3,158,042 # Shoe Carnival, Inc. 546,411 14,201,222 #* Skechers U.S.A., Inc. Class A 1,163,255 33,897,251 #* Skullcandy, Inc. 64,545 405,343 #* Skyline Corp. 1,465 6,402 #* Spanish Broadcasting System, Inc. Class A 8,699 34,448 Spartan Motors, Inc. 676,930 4,596,355 #* Spectrum Group International, Inc. 312,991 557,124 # Speedway Motorsports, Inc. 912,661 16,665,190 #* Sport Chalet, Inc. Class A 82,165 94,490 #* Sport Chalet, Inc. Class B 15,675 20,299 # Stage Stores, Inc. 1,014,266 20,944,593 # Standard Motor Products, Inc. 274,015 9,908,382 * Stanley Furniture Co., Inc. 93,359 363,166 * Starz - Liberty Capital Class B 2,327 70,322 # Stein Mart, Inc. 19,321 285,371 # Stewart Enterprises, Inc. Class A 2,648,622 34,988,297 * Stoneridge, Inc. 83,585 1,066,545 # Strattec Security Corp. 48,198 1,952,983 Superior Industries International, Inc. 759,698 14,244,337 # Superior Uniform Group, Inc. 144,642 2,184,094 # Systemax, Inc. 29,140 276,830 # Trans World Entertainment Corp. 634,084 2,745,584 #* Trinity Place Holdings, Inc. 370,454 1,870,793 #* Tuesday Morning Corp. 1,307,967 18,507,733 #* Unifi, Inc. 441,743 10,774,112 * Universal Electronics, Inc. 30,779 1,197,611 #* Valuevision Media, Inc. Class A 3,840 20,506 #* VOXX International Corp. 456,087 7,073,909 # Wendy's Co. (The) 5,109,486 44,401,433 * West Marine, Inc. 597,684 7,297,722 #* Wet Seal, Inc. (The) Class A 268,827 889,817 * Zale Corp. 1,002,090 15,662,667 -------------- Total Consumer Discretionary 1,520,334,277 -------------- Consumer Staples -- (3.3%) * Alliance One International, Inc. 1,546,891 4,594,266 # Andersons, Inc. (The) 53,904 3,998,599 #* Boulder Brands, Inc. 1,295,727 21,236,966 U.S. SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- ------------ Consumer Staples -- (Continued) Bridgford Foods Corp. 37,720 $ 380,595 # CCA Industries, Inc. 32,097 99,180 #* Central Garden and Pet Co. 312,005 2,368,118 #* Central Garden and Pet Co. Class A 923,090 6,793,942 #* Chiquita Brands International, Inc. 1,352,412 13,997,464 #* Craft Brew Alliance, Inc. 251,817 4,084,472 * Crystal Rock Holdings, Inc. 9,911 8,623 #* Cuisine Solutions, Inc. 156,778 306,501 #* Dole Food Co., Inc. 1,407,005 19,064,918 * Farmer Bros Co. 11,351 204,999 Fresh Del Monte Produce, Inc. 1,603,629 42,640,495 # Griffin Land & Nurseries, Inc. 20,232 667,656 #* Hain Celestial Group, Inc. (The) 136,739 11,380,787 #* Harbinger Group, Inc. 183,899 2,002,660 # Ingles Markets, Inc. Class A 230,759 5,955,890 John B Sanfilippo & Son, Inc. 212,220 5,216,368 * Mannatech, Inc. 3,084 72,752 MGP Ingredients, Inc. 289,677 1,532,391 Nash Finch Co. 299,129 8,393,560 * Natural Alternatives International, Inc. 94,109 575,006 Nutraceutical International Corp. 57,925 1,393,096 # Oil-Dri Corp. of America 73,605 2,612,241 * Omega Protein Corp. 530,429 4,964,815 # Orchids Paper Products Co. 2,641 80,550 * Pantry, Inc. (The) 501,019 6,708,644 #* Post Holdings, Inc. 548,008 23,536,944 #* Prestige Brands Holdings, Inc. 1,316,327 41,108,892 # Reliv International, Inc. 12,603 31,886 #* Revlon, Inc. Class A 33,302 790,922 Seaboard Corp. 18,588 50,745,240 #* Seneca Foods Corp. Class A 90,719 2,659,881 * Seneca Foods Corp. Class B 24,265 715,817 # Spartan Stores, Inc. 583,043 13,719,002 Spectrum Brands Holdings, Inc. 273,975 18,060,432 # Universal Corp. 830,795 44,057,059 # Weis Markets, Inc. 7,140 365,354 ------------ Total Consumer Staples 367,126,983 ------------ Energy -- (9.1%) # Adams Resources & Energy, Inc. 107,883 5,585,103 # Alon USA Energy, Inc. 935,988 11,306,735 #* Alpha Natural Resources, Inc. 4,786,114 33,502,798 # Arch Coal, Inc. 1,030,507 4,369,350 * Barnwell Industries, Inc. 142,853 507,128 #* Basic Energy Services, Inc. 539,920 7,920,626 #* Bill Barrett Corp. 933,912 25,841,345 #* Black Ridge Oil and Gas, Inc. 72,013 46,808 Bolt Technology Corp. 6,706 119,970 Bristow Group, Inc. 1,325,217 106,640,212 #* Cal Dive International, Inc. 896,081 1,765,280 #* Callon Petroleum Co. 114,652 783,073 * Clayton Williams Energy, Inc. 3,954 307,740 U.S. SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Energy -- (Continued) #* Cloud Peak Energy, Inc. 390,966 $ 6,102,979 # Comstock Resources, Inc. 1,558,266 26,661,931 Contango Oil & Gas Co. 27,824 1,192,248 * Dawson Geophysical Co. 193,166 5,648,174 Delek US Holdings, Inc. 704,104 17,989,857 # DHT Holdings, Inc. 65,575 336,400 * Double Eagle Petroleum Co. 81,571 226,767 #* Emerald Oil, Inc. 27,559 239,763 Energy XXI Bermuda, Ltd. 326,856 9,498,435 #* EPL Oil & Gas, Inc. 558,200 17,795,416 * Era Group, Inc. 482,106 15,234,550 * Evolution Petroleum Corp. 17,477 210,773 #* Exterran Holdings, Inc. 2,293,667 65,484,193 #* Forbes Energy Services, Ltd. 1,755 8,740 #* Gastar Exploration, Ltd. 7,589 32,784 #* Global Geophysical Services, Inc. 41,082 98,186 # Green Plains Renewable Energy, Inc. 884,339 14,264,388 Gulf Island Fabrication, Inc. 255,946 6,454,958 # Gulfmark Offshore, Inc. Class A 795,766 39,613,232 #* Halcon Resources Corp. 221,233 1,145,987 #* Harvest Natural Resources, Inc. 1,085,710 5,428,550 * Helix Energy Solutions Group, Inc. 3,443,185 81,465,757 * Hercules Offshore, Inc. 5,178,862 35,216,262 * HKN, Inc. 2,167 161,442 #* Hornbeck Offshore Services, Inc. 1,311,935 72,510,647 #* Hyperdynamics Corp. 2,837 10,242 #* James River Coal Co. 311,807 598,669 #* Key Energy Services, Inc. 1,300,094 10,166,735 #* Magnum Hunter Resources Corp. 409,557 2,920,141 #* Matador Resources Co. 1,928 35,494 #* McDermott International, Inc. 1,340,457 9,477,031 #* Mexco Energy Corp. 733 4,816 #* Miller Energy Resources, Inc. 30,956 209,263 #* Mitcham Industries, Inc. 186,185 3,098,118 * Natural Gas Services Group, Inc. 291,040 8,146,210 #* Newpark Resources, Inc. 1,234,897 15,744,937 # Nordic American Tankers, Ltd. 447,927 3,655,084 #* Northern Oil and Gas, Inc. 335,336 5,509,570 #* Overseas Shipholding Group, Inc. 776,519 2,678,991 #* Pacific Drilling SA 79,896 908,418 * Parker Drilling Co. 3,388,831 24,399,583 #* PDC Energy, Inc. 643,218 43,616,613 #* Penn Virginia Corp. 1,565,597 13,323,230 #* PHI, Inc.(69336T106) 1,686 63,427 * PHI, Inc.(69336T205) 310,311 12,356,584 #* Pioneer Energy Services Corp. 1,907,098 16,019,623 #* Renewable Energy Group, Inc. 459,932 5,017,858 # Rentech, Inc. 506,484 866,088 * REX American Resources Corp. 234,850 6,773,074 #* SandRidge Energy, Inc. 264,739 1,678,445 # SEACOR Holdings, Inc. 510,108 49,888,562 * Steel Excel, Inc. 421,014 11,683,139 U.S. SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- ------------ Energy -- (Continued) #* Stone Energy Corp. 387,924 $ 13,523,031 * Superior Energy Services, Inc. 915,588 24,565,226 #* Swift Energy Co. 724,209 9,936,147 * Tesco Corp. 343,664 5,904,148 #* TETRA Technologies, Inc. 1,143,818 14,835,319 TGC Industries, Inc. 92,704 683,228 # Tidewater, Inc. 47,060 2,833,953 #* Triangle Petroleum Corp. 344,287 3,639,114 #* Unit Corp. 215,555 11,081,683 * US Energy Corp. Wyoming 10,022 29,164 #* USEC, Inc. 109,428 881,990 #* Vaalco Energy, Inc. 121,150 638,461 * Warren Resources, Inc. 261,677 819,049 # Western Refining, Inc. 1,125,614 36,323,564 #* Westmoreland Coal Co. 68,170 968,696 * Willbros Group, Inc. 171,061 1,669,555 ------------ Total Energy 998,900,860 ------------ Financials -- (23.2%) * 1/st/ Constitution Bancorp 17,947 181,265 # 1/st/ Source Corp. 588,594 18,470,080 # 1/st/ United Bancorp Inc/Boca Raton 82,407 629,589 # Access National Corp. 39,281 570,753 * Alexander & Baldwin, Inc. 883,666 32,695,642 Alliance Bancorp, Inc. of Pennsylvania 2,078 30,131 * Altisource Asset Management Corp. 18,447 11,800,177 # Ameriana Bancorp 34,757 470,610 # American Equity Investment Life Holding Co. 1,869,562 38,961,672 * American Independence Corp. 8,517 94,368 American National Insurance Co. 5,717 577,817 * American River Bankshares 142,147 1,233,836 * Ameris Bancorp 200,892 3,676,324 # AmeriServ Financial, Inc. 323,958 1,017,228 Argo Group International Holdings, Ltd. 1,019,162 42,784,421 Aspen Insurance Holdings, Ltd. 1,044,683 40,753,084 # Associated Banc-Corp. 434,556 7,065,881 # Asta Funding, Inc. 222,408 1,908,261 Astoria Financial Corp. 1,833,916 24,226,030 # Atlantic American Corp. 238,675 966,634 * Atlantic Coast Financial Corp. 17,186 67,025 #* Atlanticus Holdings Corp. 262,883 917,462 #* AV Homes, Inc. 231,572 4,423,025 Baldwin & Lyons, Inc. Class A 3,124 83,926 # Baldwin & Lyons, Inc. Class B 367,743 10,050,416 # Banc of California, Inc. 109,874 1,550,322 # Bancorp of New Jersey, Inc. 400 5,380 * Bancorp, Inc. 207,040 3,347,837 # BancorpSouth, Inc. 818,461 18,087,988 Bank Mutual Corp. 178,558 1,135,629 Bank of Commerce Holdings 13,647 75,059 # BankFinancial Corp. 524,139 4,869,251 # Banner Corp. 154,110 5,896,249 U.S. SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- ------------ Financials -- (Continued) # Bar Harbor Bankshares 530 $ 20,002 #* BBX Capital Corp. Class A 266,322 3,512,787 # BCB Bancorp, Inc. 25,972 287,250 * BCSB Bancorp, Inc. 4,374 111,318 * Beneficial Mutual Bancorp, Inc. 7,075 68,981 # Berkshire Bancorp, Inc. 4,650 35,898 Berkshire Hills Bancorp, Inc. 558,410 14,166,862 * BNCCORP, Inc. 29,762 404,763 #* BofI Holding, Inc. 12,710 767,938 # Boston Private Financial Holdings, Inc. 337,789 3,847,417 #* Bridge Capital Holdings 34,550 607,734 # Brookline Bancorp, Inc. 943,388 8,367,852 #* Brunswick Bancorp 1,200 6,048 C&F Financial Corp. 14,360 774,148 # Calamos Asset Management, Inc. Class A 77,413 760,196 # California First National Bancorp 142,816 2,549,266 #* Camco Financial Corp. 84,743 525,407 # Cape Bancorp, Inc. 36,671 337,740 #* Capital Bank Financial Corp. Class A 28,055 623,382 #* Capital City Bank Group, Inc. 48,212 593,008 Capital Southwest Corp. 204,928 6,735,983 CapitalSource, Inc. 3,605,113 47,154,878 # Capitol Federal Financial, Inc. 866,160 10,974,247 * Carolina Bank Holdings, Inc. 4,214 42,519 # Cash America International, Inc. 58,773 2,318,595 Cathay General Bancorp 1,243,462 30,626,469 # Centerstate Banks, Inc. 93,560 922,502 # Central Pacific Financial Corp. 6,612 121,793 # Century Bancorp, Inc. Class A 19,731 641,257 CFS Bancorp, Inc. 206,612 2,580,584 Chemical Financial Corp. 673,271 19,720,108 # Chicopee Bancorp, Inc. 38,643 678,185 Citizens Community Bancorp, Inc. 42,530 324,504 * Citizens First Corp. 5,422 47,985 CNO Financial Group, Inc. 8,581,021 133,692,307 # CoBiz Financial, Inc. 43,350 470,347 # Codorus Valley Bancorp, Inc. 16,690 350,485 #* Colonial Financial Services, Inc. 4,224 59,136 #* Colony Bankcorp, Inc. 12,037 73,666 Columbia Banking System, Inc. 436,659 11,217,770 #* Community Bankers Trust Corp. 300 1,119 * Community West Bancshares 23,717 139,337 * CommunityOne Bancorp. 998 10,738 * Consumer Portfolio Services, Inc. 314,416 2,112,876 * Cowen Group, Inc. Class A 922,420 3,662,007 #* DFC Global Corp. 114,705 1,387,930 Donegal Group, Inc. Class A 489,329 7,755,865 # Donegal Group, Inc. Class B 54,693 1,148,553 #* Doral Financial Corp. 10,869 183,686 Eagle Bancorp Montana, Inc. 1,125 12,341 # Eastern Insurance Holdings, Inc. 119,112 2,911,097 * Eastern Virginia Bankshares, Inc. 22,219 133,981 U.S. SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Financials -- (Continued) # EMC Insurance Group, Inc. 292,900 $ 9,970,316 # Endurance Specialty Holdings, Ltd. 1,240,849 68,606,541 # Enterprise Bancorp, Inc. 4,006 78,277 Enterprise Financial Services Corp. 75,373 1,358,975 # ESB Financial Corp. 44,352 590,325 ESSA Bancorp, Inc. 175,563 1,924,170 # Evans Bancorp, Inc. 5,783 116,961 * Ezcorp, Inc. Class A 101,426 1,595,431 #* Farmers Capital Bank Corp. 56,370 1,157,840 FBL Financial Group, Inc. Class A 791,367 35,405,760 # Federal Agricultural Mortgage Corp. Class A 3,592 105,156 Federal Agricultural Mortgage Corp. Class C 244,070 8,710,858 # Federated National Holding Co. Class C 169,778 1,740,224 # Fidelity Southern Corp. 33,037 504,468 # Financial Institutions, Inc. 178,038 4,214,159 * First Acceptance Corp. 865,637 1,471,583 # First American Financial Corp. 1,502,742 38,860,908 #* First BanCorp 576,272 3,198,310 # First Bancorp 73,063 1,094,484 First Bancorp of Indiana, Inc. 5,430 74,934 First Bancorp, Inc. 658 11,456 #* First Bancshares, Inc.(318687100) 24,793 210,741 First Bancshares, Inc.(318916103) 2,580 38,313 # First Business Financial Services, Inc. 23,772 837,250 First Citizens BancShares, Inc. Class A 23,645 5,006,356 # First Commonwealth Financial Corp. 1,777,777 15,448,882 First Community Bancshares, Inc. 84,371 1,408,152 # First Connecticut Bancorp Inc/Farmington 4,438 65,150 First Defiance Financial Corp. 201,979 5,215,098 #* First Federal Bancshares of Arkansas, Inc. 103,884 932,878 # First Federal of Northern Michigan Bancorp, Inc. 31,310 148,409 # First Financial Corp. 155,016 5,354,253 # First Financial Holdings, Inc. 69,103 4,141,343 # First Financial Northwest, Inc. 211,748 2,295,348 #* First Financial Service Corp. 16,049 79,603 First Interstate Bancsystem, Inc. 342,427 8,598,342 * First Marblehead Corp. (The) 178,191 171,063 # First Merchants Corp. 712,549 13,395,921 # First Midwest Bancorp, Inc. 1,241,631 20,648,324 * First Place Financial Corp. 203,821 408 * First United Corp. 70,785 580,437 First West Virginia Bancorp 9,474 155,279 Firstbank Corp. 99,156 1,942,466 # FirstMerit Corp. 175,839 3,949,344 #* Flagstar Bancorp, Inc. 254,324 4,122,592 Flushing Financial Corp. 388,764 7,810,269 # FNB Corp. 614,225 7,683,955 * Fortegra Financial Corp. 1,278 9,419 Fox Chase Bancorp, Inc. 39,188 676,777 Franklin Financial Corp. 19,557 369,041 Fulton Financial Corp. 1,567,737 19,142,069 # Gain Capital Holdings, Inc. 420 4,397 U.S. SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Financials -- (Continued) GAINSCO, Inc. 100 $ 845 GFI Group, Inc. 156,713 543,794 #* Global Indemnity P.L.C. 256,350 6,313,900 # Great Southern Bancorp, Inc. 400 11,232 #* Greenlight Capital Re, Ltd. Class A 52,838 1,626,882 Guaranty Bancorp 116,100 1,567,350 #* Guaranty Federal Bancshares, Inc. 32,452 365,572 #* Hallmark Financial Services, Inc. 435,178 3,703,365 # Hampden Bancorp, Inc. 9,957 171,260 Hancock Holding Co. 33,015 1,082,232 Hanover Insurance Group, Inc. (The) 955,408 55,929,584 # Harleysville Savings Financial Corp. 14,292 262,258 * Harris & Harris Group, Inc. 315,989 989,046 Hawthorn Bancshares, Inc. 28,194 389,359 # Heartland Financial USA, Inc. 2,622 69,457 Heritage Commerce Corp. 237,542 1,850,452 # Heritage Financial Corp. 49,806 803,371 Heritage Financial Group, Inc. 11,730 201,521 HF Financial Corp. 127,909 1,705,027 #* Hilltop Holdings, Inc. 1,305,463 22,636,728 # Hingham Institution for Savings 1,857 135,041 * HMN Financial, Inc. 102,799 885,099 * Home Bancorp, Inc. 5,999 109,002 Home Federal Bancorp, Inc. 207,561 3,235,876 HopFed Bancorp, Inc. 72,033 781,558 Horace Mann Educators Corp. 878,665 24,339,020 # Horizon Bancorp 17,121 371,697 Iberiabank Corp. 177,696 10,382,777 #* ICG Group, Inc. 761,982 12,427,926 * Imperial Holdings, Inc. 11,132 65,234 # Independence Holding Co. 267,078 3,664,310 #* Independent Bank Corp. 44,809 435,543 # Infinity Property & Casualty Corp. 477,290 32,732,548 International Bancshares Corp. 638,232 14,583,601 #* Intervest Bancshares Corp. Class A 174,269 1,270,421 #* INTL. FCStone, Inc. 800 16,368 * Investment Technology Group, Inc. 365,575 5,856,511 # Investors Title Co. 43,302 3,383,618 #* Jacksonville Bancorp, Inc. 626 6,422 # Janus Capital Group, Inc. 2,746,538 27,108,330 * Jefferson Bancshares, Inc. 30,773 195,409 JMP Group, Inc. 29,537 189,332 #* KCG Holdings, Inc. Class A 106,709 932,637 Kemper Corp. 1,614,877 59,782,747 Lake Shore Bancorp, Inc. 697 8,399 # Lakeland Bancorp, Inc. 141,591 1,614,137 Landmark Bancorp, Inc. 24,379 490,262 # LNB Bancorp, Inc. 215,712 2,098,878 #* Louisiana Bancorp, Inc. 1,005 17,984 # LSB Financial Corp. 14,699 419,068 #* Macatawa Bank Corp. 150,646 739,672 * Magyar Bancorp, Inc. 36,773 269,362 U.S. SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Financials -- (Continued) # Maiden Holdings, Ltd. 1,025,678 $11,231,174 MainSource Financial Group, Inc. 508,734 8,251,665 * Malvern Bancorp, Inc. 1,888 22,939 Marlin Business Services Corp. 345,056 9,513,194 #* Maui Land & Pineapple Co., Inc. 12,148 51,750 Mayflower Bancorp, Inc. 10,823 210,399 # MB Financial, Inc. 1,464,568 43,497,670 #* MBIA, Inc. 4,664,368 53,033,864 #* MBT Financial Corp. 335,903 1,289,868 MCG Capital Corp. 2,360,215 11,116,613 # Meadowbrook Insurance Group, Inc. 1,522,479 10,109,261 # Medallion Financial Corp. 331,032 5,025,066 Mercantile Bank Corp. 95,648 2,088,952 # Meta Financial Group, Inc. 49,599 1,846,075 * Metro Bancorp, Inc. 401,510 8,568,223 # MetroCorp Bancshares, Inc. 97,187 1,392,690 #* MGIC Investment Corp. 4,775,214 38,870,242 MicroFinancial, Inc. 220,012 1,889,903 # Mid Penn Bancorp, Inc. 4,664 56,294 # MidWestOne Financial Group, Inc. 16,034 423,618 Montpelier Re Holdings, Ltd. 2,155,898 59,524,344 * MSB Financial Corp. 3,087 23,461 MutualFirst Financial, Inc. 140,766 2,393,022 # National Penn Bancshares, Inc. 1,031,876 10,700,554 # National Security Group, Inc. 11,290 72,821 # National Western Life Insurance Co. Class A 65,017 13,523,536 * Naugatuck Valley Financial Corp. 3,280 24,239 * Navigators Group, Inc. (The) 458,245 25,771,699 Nelnet, Inc. Class A 416,772 17,766,990 #* New Century Bancorp, Inc. 40,342 266,661 # New Hampshire Thrift Bancshares, Inc. 90,405 1,283,751 * NewBridge Bancorp 248,814 1,856,152 * NewStar Financial, Inc. 490,506 8,539,709 * North Valley Bancorp 5,059 95,615 Northeast Bancorp 13,957 139,710 Northeast Community Bancorp, Inc. 10,981 82,907 # Northfield Bancorp, Inc. 193,603 2,503,287 # Northrim BanCorp, Inc. 137,999 3,463,775 Northway Financial, Inc. 7,359 121,424 # Northwest Bancshares, Inc. 1,329,724 18,602,839 # Norwood Financial Corp. 504 14,485 # Ocean Shore Holding Co. 18,712 267,020 OFG Bancorp 649,848 9,624,249 # Old Line Bancshares, Inc. 39,695 529,531 # Old National Bancorp 158,011 2,297,480 #* Old Second Bancorp, Inc. 317,787 1,515,844 * OmniAmerican Bancorp, Inc. 5,117 112,165 OneBeacon Insurance Group, Ltd. Class A 58,912 940,236 # Oppenheimer Holdings, Inc. Class A 58,762 1,165,250 # Pacific Continental Corp. 43,723 602,503 * Pacific Mercantile Bancorp 149,626 930,674 #* Pacific Premier Bancorp, Inc. 122,547 1,704,629 U.S. SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Financials -- (Continued) Park Sterling Corp. 699,946 $ 4,556,648 #* Patriot National Bancorp, Inc. 76,824 92,957 # Peoples Bancorp of North Carolina, Inc. 32,318 423,043 # Peoples Bancorp, Inc. 286,793 6,429,899 Peoples Bancorp/Auburn 14,576 345,014 #* PHH Corp. 1,999,053 48,077,225 #* Phoenix Cos., Inc. (The) 103,691 3,999,362 * PICO Holdings, Inc. 156,652 3,678,189 #* Pinnacle Financial Partners, Inc. 724,722 22,466,382 #* Piper Jaffray Cos. 341,899 12,270,755 Platinum Underwriters Holdings, Ltd. 978,955 60,881,211 * Popular, Inc. 793,999 20,048,475 * Porter Bancorp, Inc. 8,106 9,079 * Preferred Bank 35,862 689,268 Premier Financial Bancorp, Inc. 79,789 959,064 PrivateBancorp, Inc. 298,613 7,274,213 Protective Life Corp. 343,168 15,813,181 # Provident Financial Holdings, Inc. 189,969 2,879,930 Provident Financial Services, Inc. 2,294,791 43,004,383 * Prudential Bancorp, Inc. 94 1,021 * PSB Holdings, Inc. 2,619 16,343 # Pulaski Financial Corp. 233,961 2,547,835 # QC Holdings, Inc. 1,979 4,651 # QCR Holdings, Inc. 2,479 43,035 # Radian Group, Inc. 2,978,199 43,392,359 # Renasant Corp. 549,138 15,749,278 # Republic Bancorp, Inc. Class A 12,464 286,921 * Republic First Bancorp, Inc. 77,655 244,613 Resource America, Inc. Class A 296,143 2,555,714 * Riverview Bancorp, Inc. 460,438 1,224,765 # Rockville Financial, Inc. 5,654 74,350 #* Royal Bancshares of Pennsylvania, Inc. Class A 8,282 12,671 # S&T Bancorp, Inc. 5,108 125,248 #* Safeguard Scientifics, Inc. 245,411 4,282,422 # Safety Insurance Group, Inc. 384,021 21,002,108 Salisbury Bancorp, Inc. 3,107 81,481 Sandy Spring Bancorp, Inc. 317,211 7,768,497 # SB Financial Group, Inc. 33,863 275,983 #* Seacoast Banking Corp. of Florida 6,889 15,707 #* Security National Financial Corp. Class A 12,363 72,571 Selective Insurance Group, Inc. 1,840,980 48,362,545 * Shore Bancshares, Inc. 15,816 144,716 SI Financial Group, Inc. 8,587 97,291 #* Siebert Financial Corp. 50,658 83,079 # Sierra Bancorp 15,744 298,034 # Simmons First National Corp. Class A 45,791 1,499,197 Simplicity Bancorp, Inc. 9,042 141,779 * South Street Financial Corp. 11,002 68,763 #* Southcoast Financial Corp. 123,556 710,447 (d)# Southern Community Financial 226,834 49,903 #* Southern First Bancshares, Inc. 67,157 902,590 # Southern Missouri Bancorp, Inc. 384 11,616 U.S. SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Financials -- (Continued) # Southern National Bancorp of Virginia, Inc. 5,903 $ 57,554 * Southwest Bancorp, Inc. 370,776 5,936,124 Southwest Georgia Financial Corp. 1,652 15,694 StanCorp Financial Group, Inc. 634,037 37,344,779 # State Auto Financial Corp. 818,685 15,555,015 StellarOne Corp. 468,645 10,910,056 Sterling Bancorp 1,095,019 12,833,623 # Stewart Information Services Corp. 581,216 18,203,685 #* Stratus Properties, Inc. 122,308 1,881,097 * Suffolk Bancorp 12,332 241,091 Summit State Bank 8,558 84,724 #* Sun Bancorp, Inc. 591,825 1,953,022 Susquehanna Bancshares, Inc. 5,363,165 63,204,900 #* Sussex Bancorp 30,750 210,484 #* SWS Group, Inc. 1,900 10,697 Symetra Financial Corp. 1,207,779 22,621,701 # Synovus Financial Corp. 6,337,456 20,596,732 * Taylor Capital Group, Inc. 91,483 2,104,109 # Teche Holding Co. 14,319 720,246 Territorial Bancorp, Inc. 1,286 28,048 TF Financial Corp. 73,202 2,031,355 Thomas Properties Group, Inc. 31,636 215,125 Timberland Bancorp, Inc. 186,434 1,653,670 # Tompkins Financial Corp. 89 4,389 # Tower Financial Corp. 33,913 804,755 # Tower Group International, Ltd. 1,179,095 4,280,115 # TowneBank 78,039 1,136,248 #* Transcontinental Realty Investors, Inc. 2,293 20,373 # Tree.com, Inc. 132,521 3,910,695 # Umpqua Holdings Corp. 4,077,772 66,753,128 # Unico American Corp. 145,800 1,828,332 # Union First Market Bankshares Corp. 173,563 4,186,340 # United Bancshares, Inc. 9,093 120,664 United Community Bancorp 2,815 30,684 * United Community Banks, Inc. 163,415 2,547,640 #* United Community Financial Corp. 475,731 1,902,924 United Financial Bancorp, Inc. 225,690 3,538,819 United Fire Group, Inc. 861,095 27,296,711 #* United Security Bancshares 8,620 44,309 Unity Bancorp, Inc. 51,891 384,512 # Universal Insurance Holdings, Inc. 212,466 1,665,733 # Univest Corp. of Pennsylvania 11,039 220,449 #* Vantagesouth Bancshares, Inc. 37,363 182,705 * Virginia Commerce Bancorp, Inc. 310,160 4,971,865 * Virtus Investment Partners, Inc. 94 19,131 VSB Bancorp, Inc. 833 8,763 Washington Federal, Inc. 1,940,982 44,215,570 #* Waterstone Financial, Inc. 87,693 933,054 Wayne Savings Bancshares, Inc. 22,033 228,042 Webster Financial Corp. 2,225,867 62,079,431 WesBanco, Inc. 729,241 21,439,685 # West BanCorp., Inc. 83,011 1,147,212 U.S. SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- -------------- Financials -- (Continued) Westfield Financial, Inc. 354,564 $ 2,556,406 # Wintrust Financial Corp. 1,288,249 56,051,714 * Wright Investors' Service Holdings, Inc. 99,580 211,607 WSFS Financial Corp. 26,313 1,842,173 WVS Financial Corp. 1,740 19,244 #* Yadkin Financial Corp. 34,273 562,763 -------------- Total Financials 2,561,764,807 -------------- Health Care -- (3.7%) #* Achillion Pharmaceuticals, Inc. 42,539 106,773 #* Addus HomeCare Corp. 14,594 377,255 #* Affymetrix, Inc. 981,464 6,938,951 #* Albany Molecular Research, Inc. 868,365 11,375,582 * Alere, Inc. 840,173 28,339,035 #* Allied Healthcare Products 207,331 483,081 Almost Family, Inc. 53,402 1,026,920 #* Alphatec Holdings, Inc. 177,736 323,480 #* Amedisys, Inc. 576,504 9,385,485 #* American Shared Hospital Services 87,469 212,987 * Amsurg Corp. 456,330 19,571,994 * AngioDynamics, Inc. 730,033 11,476,119 #* Anika Therapeutics, Inc. 194,619 5,813,270 #* Arrhythmia Research Technology, Inc. 5,407 17,654 #* AVEO Pharmaceuticals, Inc. 67,934 140,623 #* Bioanalytical Systems, Inc. 9,691 17,831 * BioScrip, Inc. 121,633 852,647 #* BioTelemetry, Inc. 368,427 3,367,423 #* Capital Senior Living Corp. 677,659 15,030,477 #* ChemoCentryx, Inc. 14,961 74,057 * Chindex International, Inc. 8,385 141,120 #* Codexis, Inc. 8,473 14,743 # CONMED Corp. 831,122 30,144,795 * Cross Country Healthcare, Inc. 916,657 5,444,943 # CryoLife, Inc. 395,364 3,554,322 #* Cutera, Inc. 402,038 4,040,482 #* Cynosure, Inc. Class A 38,678 835,832 Daxor Corp. 8,579 64,085 * Digirad Corp. 253,185 843,106 * Emergent Biosolutions, Inc. 43,578 851,078 #* Enzo Biochem, Inc. 497,886 1,239,736 # Enzon Pharmaceuticals, Inc. 9,488 14,042 * Exactech, Inc. 600 13,620 * Five Star Quality Care, Inc. 872,074 4,421,415 * Gentiva Health Services, Inc. 543,576 6,223,945 #* Greatbatch, Inc. 575,173 21,925,595 #* Harvard Bioscience, Inc. 175,852 1,035,768 * Health Net, Inc. 18,946 575,958 #* Healthways, Inc. 277,835 2,675,551 # Invacare Corp. 774,021 16,618,231 * Iridex Corp. 60,213 359,472 Kewaunee Scientific Corp. 68,740 1,193,326 # Kindred Healthcare, Inc. 1,578,082 21,903,778 U.S. SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- ------------ Health Care -- (Continued) #* Lannett Co., Inc. 278,478 $ 6,574,866 LeMaitre Vascular, Inc. 72,587 583,599 #* LHC Group, Inc. 75,160 1,548,296 * LifePoint Hospitals, Inc. 1,892,213 97,713,879 * Magellan Health Services, Inc. 102,191 5,998,612 (d)#* Maxygen, Inc. 701,074 21,032 * MedAssets, Inc. 17,474 402,426 (d)#* MedCath Corp. 622,045 852,202 * Medical Action Industries, Inc. 73,629 446,192 #* MediciNova, Inc. 18,700 46,189 * Merit Medical Systems, Inc. 46,359 741,280 #* Misonix, Inc. 131,503 549,683 # National Healthcare Corp. 400 19,352 * Natus Medical, Inc. 75,052 1,480,776 * Orthofix International NV 45,269 927,562 #* Pacific Biosciences of California, Inc. 141,966 583,480 * PDI, Inc. 294,287 1,403,749 #* Pernix Therapeutics Holdings 4,185 8,747 #* PharMerica Corp. 371,591 5,484,683 Psychemedics Corp. 365 5,106 #* RadNet, Inc. 285,137 698,586 #* Retractable Technologies, Inc. 39,828 99,172 #* Rigel Pharmaceuticals, Inc. 126,314 390,310 * RTI Biologics, Inc. 699,904 1,952,732 # Select Medical Holdings Corp. 261,555 2,217,986 #* Skilled Healthcare Group, Inc. Class A 50,778 216,314 #* Special Diversified Opportunities, Inc. 252,007 279,728 #* Stereotaxis, Inc. 2,235 9,767 #* Sucampo Pharmaceuticals, Inc. Class A 277,919 1,723,098 * SurModics, Inc. 6,978 164,541 * Symmetry Medical, Inc. 885,860 7,175,466 #* Targacept, Inc. 92,275 438,306 #* Transcept Pharmaceuticals, Inc. 2,688 9,892 * Triple-S Management Corp. Class B 589,525 10,499,440 # Universal American Corp. 2,106,603 15,630,994 Xstelos Holdings, Inc. 251,700 329,727 ------------ Total Health Care 406,294,357 ------------ Industrials -- (14.8%) # AAR Corp. 1,173,798 34,368,805 # ABM Industries, Inc. 18,223 501,315 #* ACCO Brands Corp. 506,066 2,960,486 #* Accuride Corp. 80,161 360,725 Aceto Corp. 533,965 8,516,742 # Acme United Corp. 2,707 39,630 # Acorn Energy, Inc. 140,865 529,652 #* Aegion Corp. 777,814 15,945,187 #* AeroCentury Corp. 31,474 629,480 * Air Transport Services Group, Inc. 778,196 5,634,139 # Aircastle, Ltd. 1,404,483 26,502,594 Alamo Group, Inc. 306,077 14,443,774 (d) Allied Defense Group, Inc. (The) 118,807 623,737 U.S. SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- ------------ Industrials -- (Continued) Allied Motion Technologies, Inc. 44,049 $ 420,668 AMERCO 343,691 69,401,524 # American Railcar Industries, Inc. 484,088 19,828,244 Ampco-Pittsburgh Corp. 47,162 868,252 #* AMREP Corp. 8,733 70,301 # Apogee Enterprises, Inc. 150,872 4,719,276 * ARC Document Solutions, Inc. 139,548 870,780 # Argan, Inc. 968 21,538 # Arkansas Best Corp. 773,859 21,180,521 #* Ascent Solar Technologies, Inc. 118,282 111,185 Astec Industries, Inc. 13,965 472,157 * Atlas Air Worldwide Holdings, Inc. 679,014 25,143,888 #* Avalon Holdings Corp. Class A 51,820 268,428 #* Avis Budget Group, Inc. 3,927,269 123,041,338 Baltic Trading, Ltd. 488,910 2,190,317 Barrett Business Services, Inc. 79,827 6,647,194 #* BlueLinx Holdings, Inc. 836,669 1,556,204 Brady Corp. Class A 40,727 1,188,821 # Briggs & Stratton Corp. 1,094,683 20,076,486 #* Builders FirstSource, Inc. 307,907 2,281,591 #* CAI International, Inc. 65,533 1,434,517 * Casella Waste Systems, Inc. Class A 14,929 88,230 #* CBIZ, Inc. 241,155 1,967,825 CDI Corp. 394,811 6,336,717 # Ceco Environmental Corp. 120,710 2,130,531 # Celadon Group, Inc. 25,278 468,654 Chicago Rivet & Machine Co. 28,248 937,834 # Comfort Systems USA, Inc. 19,564 364,477 # Compx International, Inc. 67,191 953,440 #* Consolidated Graphics, Inc. 156,383 10,022,586 * Costa, Inc. 288,550 5,805,626 Courier Corp. 67,360 1,144,446 #* Covenant Transportation Group, Inc. Class A 200,897 1,311,857 #* CPI Aerostructures, Inc. 6,457 80,067 * CRA International, Inc. 65,831 1,254,081 # Curtiss-Wright Corp. 641,116 31,914,754 * DigitalGlobe, Inc. 44,723 1,423,086 * Dolan Co. (The) 244,492 628,344 #* Ducommun, Inc. 309,013 7,682,063 * Dycom Industries, Inc. 407,918 12,094,769 # Dynamic Materials Corp. 2,000 44,200 #* Eagle Bulk Shipping, Inc. 441,859 2,456,736 # Eastern Co. (The) 69,790 1,155,025 # Ecology and Environment, Inc. Class A 35,051 385,561 # Encore Wire Corp. 248,475 12,306,967 #* Energy Recovery, Inc. 27,016 157,773 #* Engility Holdings, Inc. 41,196 1,275,840 # Ennis, Inc. 754,208 13,387,192 # ESCO Technologies, Inc. 61,724 2,227,002 * Esterline Technologies Corp. 1,145,345 91,810,855 #* Federal Signal Corp. 982,704 13,453,218 * Franklin Covey Co. 213,063 4,005,584 U.S. SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE+ ---------- ----------- Industrials -- (Continued) # FreightCar America, Inc. 28,428 $ 632,239 #* FTI Consulting, Inc. 401,925 16,310,116 G&K Services, Inc. Class A 596,563 37,225,531 # GATX Corp. 1,763,892 90,928,633 #* Genco Shipping & Trading, Ltd. 1,047,352 2,796,430 #* Gencor Industries, Inc. 35,002 319,568 # General Cable Corp. 1,577,516 51,947,602 * Gibraltar Industries, Inc. 853,537 13,665,127 Global Power Equipment Group, Inc. 2,781 56,621 * GP Strategies Corp. 155,719 4,363,246 #* GrafTech International, Ltd. 418,198 3,721,962 # Granite Construction, Inc. 317,773 10,279,957 # Great Lakes Dredge & Dock Corp. 1,292,469 10,494,848 #* Greenbrier Cos., Inc. 769,066 20,411,012 # Griffon Corp. 1,480,878 18,555,401 * H&E Equipment Services, Inc. 347,240 8,691,417 Hardinge, Inc. 254,906 3,770,060 #* Hawaiian Holdings, Inc. 456,670 3,767,527 Heidrick & Struggles International, Inc. 8,713 161,365 * Hill International, Inc. 48,125 165,550 #* Hudson Global, Inc. 389,082 1,264,517 Hurco Cos., Inc. 125,587 3,075,626 Hyster-Yale Materials Handling, Inc. 301,240 23,629,266 #* ICF International, Inc. 78,435 2,715,420 * Innotrac Corp. 111,236 746,394 Innovative Solutions & Support, Inc. 100 788 Insteel Industries, Inc. 197,302 3,273,240 * Integrated Electrical Services, Inc. 900 4,194 * Intelligent Systems Corp. 27,446 42,267 # International Shipholding Corp. 220,292 5,467,647 # Intersections, Inc. 163,724 1,403,115 #* JetBlue Airways Corp. 10,286,881 72,933,986 * JPS Industries, Inc. 42,199 206,775 Kadant, Inc. 409,129 14,646,818 # Kelly Services, Inc. Class A 935,810 19,520,997 Kelly Services, Inc. Class B 567 12,139 * Key Technology, Inc. 10,099 146,133 Kimball International, Inc. Class B 757,020 8,857,134 * Korn/Ferry International 318,763 7,586,559 #* Kratos Defense & Security Solutions, Inc. 285,580 2,421,718 #* Lawson Products, Inc. 201,534 2,644,126 #* Layne Christensen Co. 502,507 9,718,485 LB Foster Co. Class A 44,179 2,065,368 #* LMI Aerospace, Inc. 102,928 1,615,970 # LS Starrett Co. (The) Class A 183,253 2,083,587 LSI Industries, Inc. 200,407 1,845,748 * Lydall, Inc. 417,771 7,611,788 #* Magnetek, Inc. 29,000 525,480 Marten Transport, Ltd. 838,468 14,790,576 Mastech Holdings, Inc. 46,984 685,027 Matson, Inc. 772,228 20,919,657 # McGrath RentCorp 77,686 2,771,060 U.S. SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Industrials -- (Continued) #* Meritor, Inc. 76,805 $ 527,650 #* Metalico, Inc. 143,374 235,133 * Mfri, Inc. 204,452 2,420,712 Miller Industries, Inc. 295,316 5,534,222 #* Mobile Mini, Inc. 1,175,105 42,444,793 * Moog, Inc. Class A 34,793 2,078,186 Mueller Water Products, Inc. Class A 3,721,812 31,895,929 # Multi-Color Corp. 19,915 693,639 * National Technical Systems, Inc. 150,745 3,450,553 * Navigant Consulting, Inc. 558,013 9,681,526 # NL Industries, Inc. 170,882 1,992,484 NN, Inc. 485,644 7,809,156 * Northwest Pipe Co. 245,966 8,862,155 #* Ocean Power Technologies, Inc. 88,447 207,850 #* Orbital Sciences Corp. 142,368 3,284,430 * Orion Energy Systems, Inc. 56,782 241,324 * Orion Marine Group, Inc. 150,346 1,879,325 #* Pacer International, Inc. 4,781 38,152 PAM Transportation Services, Inc. 150,056 2,610,974 * Park-Ohio Holdings Corp. 116,265 4,814,534 * Patrick Industries, Inc. 125,616 3,929,268 #* Patriot Transportation Holding, Inc. 7,369 272,432 * PGT, Inc. 80,347 839,626 # Pike Electric Corp. 375,747 4,061,825 #* PMFG, Inc. 3,987 31,258 #* PowerSecure International, Inc. 296,322 5,357,502 # Preformed Line Products Co. 44,160 3,710,323 # Providence and Worcester Railroad Co. 88,450 1,810,571 # Quad/Graphics, Inc. 180,265 6,294,854 * Quality Distribution, Inc. 162,863 1,674,232 # RCM Technologies, Inc. 215,529 1,390,162 * Republic Airways Holdings, Inc. 1,594,974 18,788,794 Resources Connection, Inc. 32,013 408,486 #* Rush Enterprises, Inc. Class A 847,508 24,255,679 * Rush Enterprises, Inc. Class B 332,305 8,078,335 #* Saia, Inc. 640,861 20,847,208 # Schawk, Inc. 121,075 1,770,116 # Servotronics, Inc. 15,025 126,811 SIFCO Industries, Inc. 68,152 1,511,611 # SkyWest, Inc. 1,640,415 24,671,842 SL Industries, Inc. 28,931 781,137 * Sparton Corp. 311,191 8,212,330 # Standex International Corp. 221,381 13,617,145 * Sterling Construction Co., Inc. 173,748 1,667,981 #* Supreme Industries, Inc. Class A 176,937 1,082,854 # Sypris Solutions, Inc. 278,004 886,833 # TAL International Group, Inc. 5,189 250,681 #* Tecumseh Products Co. Class A 409,492 3,194,038 * Tecumseh Products Co. Class B 59,184 431,451 #* Tetra Tech, Inc. 30,282 791,269 # Titan International, Inc. 289,143 4,192,573 #* Titan Machinery, Inc. 70,698 1,247,113 U.S. SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- -------------- Industrials -- (Continued) #* Transcat, Inc. 58,439 $ 490,888 #* TRC Cos., Inc. 316,913 2,437,061 # Trinity Industries, Inc. 493,659 24,993,955 #* Tufco Technologies, Inc. 35,571 179,634 * Tutor Perini Corp. 1,220,549 28,011,600 # Twin Disc, Inc. 69,856 1,807,175 * Ultralife Corp. 140,452 547,763 UniFirst Corp. 145,854 14,996,708 # Universal Forest Products, Inc. 611,361 32,353,224 #* Universal Power Group, Inc. 290 363 #* Universal Security Instruments, Inc. 34,941 166,843 #* USA Truck, Inc. 304,826 4,048,089 * Versar, Inc. 45,303 214,283 Viad Corp. 501,601 13,392,747 * Virco Manufacturing Corp. 37,692 76,515 * Volt Information Sciences, Inc. 534,473 4,649,915 VSE Corp. 5,954 260,785 # Watts Water Technologies, Inc. Class A 546,232 31,561,285 * Willdan Group, Inc. 38,985 148,923 #* Willis Lease Finance Corp. 294,405 5,131,479 -------------- Total Industrials 1,637,978,955 -------------- Information Technology -- (11.9%) * Active Network, Inc. (The) 69,547 1,004,259 * ADDvantage Technologies Group, Inc. 4,523 11,986 #* Advanced Energy Industries, Inc. 113,529 2,370,486 #* Aehr Test Systems 54,035 137,789 #* Aetrium, Inc. 10,647 37,797 * Agilysys, Inc. 502,038 5,898,946 * Alpha & Omega Semiconductor, Ltd. 341,888 2,516,296 #* Amkor Technology, Inc. 559,650 2,971,742 #* ANADIGICS, Inc. 251,610 508,252 * Anaren, Inc. 224,757 5,614,430 # AOL, Inc. 498,550 18,067,452 #* ARRIS Group, Inc. 171,589 3,064,580 * AsiaInfo-Linkage, Inc. 66,398 770,217 Astro-Med, Inc. 167,804 2,127,755 * ATMI, Inc. 111,563 3,050,132 * Autobytel, Inc. 55,623 453,327 * Aviat Networks, Inc. 1,151,085 2,371,235 #* Avid Technology, Inc. 965,141 7,190,300 AVX Corp. 177,598 2,353,174 # Aware, Inc. 660,227 3,452,987 * Axcelis Technologies, Inc. 417,916 906,878 * AXT, Inc. 206,684 467,106 # Bel Fuse, Inc. Class A 14,272 294,289 Bel Fuse, Inc. Class B 156,953 3,302,291 * Benchmark Electronics, Inc. 2,299,623 52,270,431 # Black Box Corp. 510,256 12,776,810 #* Blonder Tongue Laboratories 19,745 17,968 #* Blucora, Inc. 870,316 20,565,567 Bogen Communications International 43,300 80,105 U.S. SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Information Technology -- (Continued) (d) Bogen Corp 43,300 $ -- * BroadVision, Inc. 17,915 173,596 * Brocade Communications Systems, Inc. 51,942 416,575 Brooks Automation, Inc. 2,075,689 20,009,642 * Bsquare Corp. 74,978 241,429 #* BTU International, Inc. 17,638 58,382 #* CACI International, Inc. Class A 780,459 56,177,439 #* CalAmp Corp. 170,528 4,012,524 * Cascade Microtech, Inc. 336,101 3,441,674 * Checkpoint Systems, Inc. 416,839 7,094,600 #* ChyronHego Corp. 51,176 76,764 #* CIBER, Inc. 2,038,464 6,625,008 * Cinedigm Corp. 205,377 367,625 #* Clearfield, Inc. 44,712 663,526 #* Cogo Group, Inc. 19,892 47,144 Coherent, Inc. 490,181 32,445,080 Cohu, Inc. 711,379 6,800,783 (d)# Commerce One LLC 55,600 -- Communications Systems, Inc. 153,092 1,746,780 # Computer Task Group, Inc. 129,060 2,210,798 Comtech Telecommunications Corp. 527,830 15,845,457 # Concurrent Computer Corp. 137,792 1,015,527 # Convergys Corp. 3,909,664 77,176,767 # CSP, Inc. 125,308 947,328 CTS Corp. 1,225,517 22,819,127 #* CyberOptics Corp. 237,710 1,205,190 #* Data I/O Corp. 74,290 219,156 #* Dataram Corp. 6,118 14,928 #* Demand Media, Inc. 83,515 399,202 * Digi International, Inc. 709,915 7,155,943 # Digimarc Corp. 30,810 648,859 * Digital River, Inc. 140,997 2,515,386 #* Diodes, Inc. 24,888 602,787 * Dot Hill Systems Corp. 388,477 1,126,583 * DSP Group, Inc. 549,920 4,096,904 * Dynamics Research Corp. 54,334 402,072 # EarthLink, Inc. 2,733,811 13,833,084 * Echelon Corp. 13,900 30,163 * Edgewater Technology, Inc. 298,591 2,045,348 Electro Rent Corp. 545,049 9,887,189 Electro Scientific Industries, Inc. 899,477 10,775,734 * Electronics for Imaging, Inc. 927,043 31,806,845 #* Emcore Corp. 51,228 273,045 * Emulex Corp. 843,253 6,349,695 #* Entropic Communications, Inc. 218,494 935,154 # EPIQ Systems, Inc. 309,113 4,624,330 # ePlus, Inc. 270,502 14,704,489 * Exar Corp. 1,041,520 12,008,726 #* Fairchild Semiconductor International, Inc. 3,163,516 40,081,748 * First Solar, Inc. 187,509 9,426,077 * FormFactor, Inc. 996,215 5,200,242 Frequency Electronics, Inc. 218,323 2,425,569 U.S. SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Information Technology -- (Continued) * Giga-tronics, Inc. 10,700 $ 10,112 #* GigOptix, Inc. 21,536 30,150 #* Globecomm Systems, Inc. 309,865 4,347,406 * GSE Systems, Inc. 19,948 33,912 * GSI Group, Inc. 13,906 138,782 * GSI Technology, Inc. 7,980 56,020 Hackett Group, Inc. (The) 192,050 1,367,396 * Harmonic, Inc. 797,892 5,832,591 * Hauppauge Digital, Inc. 59,620 21,046 * Hutchinson Technology, Inc. 679,775 2,528,763 #* ID Systems, Inc. 153,839 799,963 * Identive Group, Inc. 104,300 66,742 #* iGO, Inc. 9,780 28,655 #* Ikanos Communications, Inc. 128,006 167,688 * Imation Corp. 1,420,177 6,603,823 * Insight Enterprises, Inc. 983,063 20,713,137 * Integrated Silicon Solution, Inc. 388,216 4,184,968 #* Internap Network Services Corp. 595,572 4,329,808 #* International Rectifier Corp. 1,231,187 32,060,109 * Internet Patents Corp. 16,755 53,616 #* Interphase Corp. 78,699 320,305 Intersil Corp. Class A 1,205,220 13,450,255 #* Intevac, Inc. 163,070 831,657 * IntraLinks Holdings, Inc. 208,882 2,170,284 * IntriCon Corp. 44,161 195,633 #* Ipass, Inc. 171,694 317,634 #* Iteris, Inc. 107,467 220,307 # IXYS Corp. 24,221 281,690 #* Kemet Corp. 148,645 842,817 * Key Tronic Corp. 351,713 3,816,086 #* Kopin Corp. 5,300 19,451 #* Kulicke & Soffa Industries, Inc. 748,973 9,661,752 * Lattice Semiconductor Corp. 671,076 3,442,620 # Lexmark International, Inc. Class A 209,026 7,430,874 * LGL Group, Inc. (The) 8,402 49,908 #* Limelight Networks, Inc. 187,611 360,213 #* Lionbridge Technologies, Inc. 65,229 284,398 #* LoJack Corp. 138,946 608,583 * LTX-Credence Corp. 71,857 440,483 * Management Network Group, Inc. 10,673 29,457 # ManTech International Corp. Class A 162,168 4,530,974 Marchex, Inc. Class B 255,488 2,278,953 #* Measurement Specialties, Inc. 2,688 149,802 #* Mercury Systems, Inc. 59,140 545,271 Methode Electronics, Inc. 787,880 20,153,970 MKS Instruments, Inc. 1,317,296 39,044,653 #* ModusLink Global Solutions, Inc. 838,727 3,455,555 #* Monster Worldwide, Inc. 1,476,794 6,379,750 #* MoSys, Inc. 144,081 633,956 #* Multi-Fineline Electronix, Inc. 2,991 40,109 #* NAPCO Security Technologies, Inc. 42,075 236,462 #* NCI, Inc. Class A 1,431 8,157 U.S. SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Information Technology -- (Continued) #* NeoPhotonics Corp. 20,398 $ 144,622 #* NETGEAR, Inc. 52,812 1,518,873 * Newport Corp. 1,058,760 16,802,521 #* Novatel Wireless, Inc. 231,558 709,725 #* Numerex Corp. Class A 89,013 1,051,244 #* Oclaro, Inc. 318,679 650,105 * Official Payments Holdings, Inc. 339,826 2,834,149 #* OmniVision Technologies, Inc. 1,595,054 22,346,707 * Omtool, Ltd. 16,864 20,574 * Oplink Communications, Inc. 161,574 2,948,726 # Optical Cable Corp. 169,845 677,682 * PAR Technology Corp. 147,203 818,449 PC Connection, Inc. 869,589 17,383,084 PC-Tel, Inc. 613,025 5,645,960 * PCM, Inc. 204,946 2,156,032 * PDF Solutions, Inc. 233,590 5,365,562 Perceptron, Inc. 195,775 2,738,892 #* Performance Technologies, Inc. 289,576 897,686 * Pericom Semiconductor Corp. 529,673 4,279,758 #* Photronics, Inc. 1,802,153 15,138,085 #* Planar Systems, Inc. 427,186 892,819 #* Polycom, Inc. 1,775,691 18,467,186 * QLogic Corp. 831,138 10,264,554 * Qualstar Corp. 379,283 496,861 #* QuinStreet, Inc. 18,992 168,839 * Qumu Corp. 35,376 529,932 * Radisys Corp. 228,876 691,206 * Rainmaker Systems, Inc. 185,058 92,529 * RealNetworks, Inc. 662,399 5,080,600 #* Reis, Inc. 332,636 5,984,122 #* Relm Wireless Corp. 130,663 343,644 # RF Industries, Ltd. 63,374 582,407 Richardson Electronics, Ltd. 438,758 5,054,492 * Rofin-Sinar Technologies, Inc. 40,134 1,053,518 * Rovi Corp. 583,027 9,771,533 #* Rubicon Technology, Inc. 70,214 603,840 #* Rudolph Technologies, Inc. 126,728 1,343,317 #* Sanmina Corp. 1,072,137 15,610,315 * ScanSource, Inc. 45,736 1,759,007 * Seachange International, Inc. 538,774 7,645,203 * Selectica, Inc. 3,912 26,523 #* Sevcon, Inc. 2,400 11,400 * Sigma Designs, Inc. 747,121 4,064,338 #* Sigmatron International, Inc. 16,500 88,440 #* Smith Micro Software, Inc. 6,955 5,634 #* Spansion, Inc. Class A 825,139 9,876,914 #* Speed Commerce, Inc. 54,871 201,377 #* StarTek, Inc. 236,335 1,479,457 #* STR Holdings, Inc. 23,956 47,672 #* SunPower Corp. 502,957 15,184,272 #* Super Micro Computer, Inc. 42,628 593,382 Supertex, Inc. 14,017 357,574 U.S. SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- -------------- Information Technology -- (Continued) * support.com, Inc. 814,775 $ 3,633,897 #* Sykes Enterprises, Inc. 255,982 4,791,983 * Symmetricom, Inc. 344,506 2,470,108 #* SYNNEX Corp. 1,175,733 72,072,433 * Tech Data Corp. 836,389 43,542,411 #* TeleCommunication Systems, Inc. Class A 936,997 2,136,353 * Telenav, Inc. 28,467 206,386 Tellabs, Inc. 2,351,627 5,737,970 # Tessco Technologies, Inc. 78,114 2,767,579 # Tessera Technologies, Inc. 297,871 5,665,506 * TheStreet, Inc. 453,355 1,065,384 * Trio Tech International 39,533 132,436 #* TriQuint Semiconductor, Inc. 3,452,671 27,379,681 * Trulia, Inc. 4,017 160,559 # TSR, Inc. 1,145 3,882 * TTM Technologies, Inc. 435,132 3,807,405 * Ultra Clean Holdings 158,207 1,472,907 # United Online, Inc. 1,744,412 15,071,720 * UTStarcom Holdings Corp. 143,395 401,506 * VeriFone Systems, Inc. 245,782 5,569,420 #* Viasystems Group, Inc. 565,834 8,487,510 * Vicon Industries, Inc. 102,175 301,416 #* Video Display Corp. 5,282 19,121 #* Vishay Intertechnology, Inc. 4,709,603 57,786,829 * Vishay Precision Group, Inc. 371,058 6,085,351 #* Westell Technologies, Inc. Class A 82,538 296,311 * Wireless Telecom Group, Inc. 129,294 231,436 # Xyratex, Ltd. 120,775 1,200,504 #* Zygo Corp. 405,632 6,262,958 #* Zynga, Inc. Class A 2,841,148 10,199,721 -------------- Total Information Technology 1,314,931,342 -------------- Materials -- (5.4%) A Schulman, Inc. 607,297 20,113,677 #* Allied Nevada Gold Corp. 543,185 2,216,195 #* AM Castle & Co. 641,390 9,178,291 * American Biltrite, Inc. 110 44,564 * American Pacific Corp. 148,845 6,775,424 Axiall Corp. 333,066 12,952,937 # Cabot Corp. 25,654 1,195,733 #* Century Aluminum Co. 2,675,837 23,226,265 # Chase Corp. 1,380 41,759 * Coeur d'Alene Mines Corp. 2,083,217 25,436,080 Commercial Metals Co. 1,658,748 30,454,613 * Continental Materials Corp. 13,260 231,917 * Core Molding Technologies, Inc. 198,499 2,143,789 Domtar Corp. 66,713 5,651,258 * Ferro Corp. 133,773 1,716,308 Friedman Industries, Inc. 178,173 1,767,476 #* Golden Minerals Co. 12,380 9,533 * Graphic Packaging Holding Co. 5,789,957 48,635,639 #* Headwaters, Inc. 814,395 7,109,668 U.S. SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE+ --------- ------------ Materials -- (Continued) # Hecla Mining Co. 439,274 $ 1,370,535 #* Horsehead Holding Corp. 758,895 11,011,566 # Intrepid Potash, Inc. 19,516 289,813 # Kaiser Aluminum Corp. 623,602 42,061,955 KapStone Paper and Packaging Corp. 139,183 7,231,949 #* Kraton Performance Polymers, Inc. 95,368 2,028,477 * Landec Corp. 646,741 7,573,337 * Louisiana-Pacific Corp. 3,503,276 59,590,725 #* Material Sciences Corp. 216,679 2,010,781 Materion Corp. 53,588 1,597,458 #* McEwen Mining, Inc. 499,579 1,069,099 #* Mercer International, Inc. 448,049 3,584,392 #* Mines Management, Inc. 118,526 71,116 Myers Industries, Inc. 511,259 9,110,635 # Noranda Aluminum Holding Corp. 187,200 509,184 #* Northern Technologies International Corp. 3,305 56,218 # Olympic Steel, Inc. 290,980 7,964,123 #* OM Group, Inc. 1,035,713 35,214,242 #* Penford Corp. 256,129 3,483,354 PH Glatfelter Co. 1,133,716 29,703,359 PolyOne Corp. 347,802 10,538,401 * Resolute Forest Products, Inc. 270,636 4,327,470 #* RTI International Metals, Inc. 982,778 33,316,174 # Schnitzer Steel Industries, Inc. Class A 512,012 14,868,828 #* Stillwater Mining Co. 1,224,188 13,355,891 * SunCoke Energy, Inc. 220,048 4,400,960 # Synalloy Corp. 40,252 647,655 #* Texas Industries, Inc. 73,971 3,972,243 # Tredegar Corp. 1,193,584 34,876,524 Tronox, Ltd. Class A 219,449 5,067,077 #* Universal Stainless & Alloy Products, Inc. 128,910 4,166,371 Vulcan International Corp. 11,100 357,975 # Wausau Paper Corp. 369,974 4,328,696 * Webco Industries, Inc. 9,290 966,160 # Westlake Chemical Corp. 246,248 26,451,960 #* Zoltek Cos., Inc. 834,866 13,942,262 ------------ Total Materials 600,018,091 ------------ Other -- (0.0%) (d)* Allen Organ Co. Escrow Shares 4,900 -- (d)* Big 4 Ranch, Inc 73,300 -- (d)* Concord Camera Corp. Escrow Shares 95,952 -- (d)* CSF Holding, Inc. Litigation Rights 40,500 -- (d)* First Commerce Bancorp Escrow Shares 70,003 79,104 (d)* Gerber Scientific, Inc. Escrow Shares 525,910 -- (d)* Petrocorp, Inc. Escrow Shares 102,600 6,156 (d)* Price Communications Liquidation Trust 1,498,306 -- ------------ Total Other 85,260 ------------ Real Estate Investment Trusts -- (0.2%) Geo Group, Inc. (The) 472,956 16,681,158 U.S. SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE+ ---------- -------------- Real Estate Investment Trusts -- (Continued) # Ryman Hospitality Properties 74,159 $ 2,737,209 -------------- Total Real Estate Investment Trusts 19,418,367 -------------- Telecommunication Services -- (0.3%) #* Cincinnati Bell, Inc. 851,428 2,435,084 * General Communication, Inc. Class A 48,397 460,256 #* Hawaiian Telcom Holdco, Inc. 7,470 198,553 IDT Corp. Class B 19,306 422,608 #* Iridium Communications, Inc. 1,223,081 7,375,178 #* Leap Wireless International, Inc. 978,534 15,754,397 #* NII Holdings, Inc. 272,063 935,897 #* ORBCOMM, Inc. 1,072,816 6,469,081 # PTGi Holding, Inc. 10,700 37,664 Shenandoah Telecommunications Co. 67 1,858 * Straight Path Communications, Inc. Class B 9,653 52,705 USA Mobility, Inc. 85,191 1,271,050 -------------- Total Telecommunication Services 35,414,331 -------------- Utilities -- (0.1%) # Atlantic Power Corp. 35,369 158,807 # Consolidated Water Co., Ltd. 95,254 1,432,620 * Dynegy, Inc. 47,829 929,318 #* Genie Energy, Ltd. Class B 31,652 326,965 # Ormat Technologies, Inc. 176,344 4,597,288 # SJW Corp. 16,389 462,661 #* Synthesis Energy Systems, Inc. 1,263 836 -------------- Total Utilities 7,908,495 -------------- TOTAL COMMON STOCKS 9,470,176,125 -------------- PREFERRED STOCKS -- (0.0%) Other -- (0.0%) (d) Enron TOPRS 8.125PCT Escrow Shares 34,332 -- -------------- RIGHTS/WARRANTS -- (0.0%) (d)#* Caesars Entertainment Corp. Rights 11/02/13 13,866 31,753 (d)* Capital Bank Corp. Contingent Value Rights 45,703 -- (d)* CVR Energy, Inc. Contingent Value Rights 1,072,209 -- (d)#* LGL Group Inc (The) Warrants 08/06/18 42,010 4,201 (d)#* Magnum Hunter Resources Corp. Warrants 04/15/16 40,955 -- (d)#* PhotoMedex, Inc. Contingent Value Warrants 12/13/14 10,016 -- (d)* U.S. Concrete, Inc. Warrants Class A 08/31/17 24,689 98,756 (d)* U.S. Concrete, Inc. Warrants Class B 08/31/17 24,689 87,646 -------------- TOTAL RIGHTS/WARRANTS 222,356 -------------- TEMPORARY CASH INVESTMENTS -- (0.5%) State Street Institutional Liquid Reserves, 0.073% 58,723,771 58,723,771 -------------- U.S. SMALL CAP VALUE PORTFOLIO CONTINUED SHARES/ FACE AMOUNT (000) VALUE+ ----------- --------------- SECURITIES LENDING COLLATERAL -- (13.7%) (S)@ DFA Short Term Investment Fund 130,380,635 $ 1,508,503,951 --------------- TOTAL INVESTMENTS -- (100.0%) (Cost $8,164,435,164) $11,037,626,203 =============== U.S. CORE EQUITY 1 PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 SHARES VALUE+ ------- ----------- COMMON STOCKS -- (90.8%) Consumer Discretionary -- (13.2%) * 1-800-Flowers.com, Inc. Class A 25,370 $ 137,759 Aaron's, Inc. 70,810 2,008,880 # Abercrombie & Fitch Co. Class A 70,622 2,646,913 Advance Auto Parts, Inc. 22,500 2,231,550 #* Aeropostale, Inc. 58,751 545,797 * AFC Enterprises, Inc. 10,989 489,890 # AH Belo Corp. Class A 15,518 124,765 Allison Transmission Holdings, Inc. 30,931 753,170 * Amazon.com, Inc. 86,377 31,443,819 # Ambassadors Group, Inc. 8,122 29,970 * AMC Networks, Inc. Class A 48,232 3,380,581 Amcon Distributing Co. 247 19,883 * America's Car-Mart, Inc. 8,261 377,858 #* American Apparel, Inc. 769 1,030 * American Axle & Manufacturing Holdings, Inc. 37,113 690,673 American Eagle Outfitters, Inc. 137,716 2,133,221 #* American Public Education, Inc. 13,581 543,647 * ANN, Inc. 36,380 1,286,397 * Apollo Group, Inc. Class A 83,852 2,238,010 Arctic Cat, Inc. 10,376 543,702 Ark Restaurants Corp. 2,510 53,212 * Asbury Automotive Group, Inc. 24,619 1,182,943 * Ascena Retail Group, Inc. 155,500 3,077,345 #* Ascent Capital Group, Inc. Class A 12,507 1,055,841 # Autoliv, Inc. 70,471 6,288,127 * AutoNation, Inc. 46,142 2,225,429 * AutoZone, Inc. 10,967 4,767,245 * Ballantyne Strong, Inc. 10,077 50,284 #* Bally Technologies, Inc. 27,844 2,036,510 #* Barnes & Noble, Inc. 56,152 793,428 Bassett Furniture Industries, Inc. 7,766 108,724 Beasley Broadcasting Group, Inc. Class A 3,374 29,253 * Beazer Homes USA, Inc. 11,219 203,849 # bebe stores, Inc. 77,214 465,600 * Bed Bath & Beyond, Inc. 60,100 4,646,932 Belo Corp. Class A 86,951 1,193,837 Best Buy Co., Inc. 199,785 8,550,798 Big 5 Sporting Goods Corp. 22,121 418,308 * Big Lots, Inc. 45,775 1,664,379 * Biglari Holdings, Inc. 1,548 674,959 #* BJ's Restaurants, Inc. 25,871 700,069 * Blue Nile, Inc. 5,210 213,975 # Blyth, Inc. 11,136 153,788 Bob Evans Farms, Inc. 25,541 1,458,136 * Body Central Corp. 9,690 54,264 # Bon-Ton Stores, Inc. (The) 13,310 152,399 #* Books-A-Million, Inc. 9,373 23,526 BorgWarner, Inc. 45,649 4,707,781 Bowl America, Inc. Class A 1,576 22,655 * Boyd Gaming Corp. 47,548 502,107 * Bravo Brio Restaurant Group, Inc. 14,723 219,814 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Consumer Discretionary -- (Continued) #* Bridgepoint Education, Inc. 40,071 $ 785,392 # Brinker International, Inc. 46,426 2,062,243 Brown Shoe Co., Inc. 43,207 969,565 Brunswick Corp. 36,193 1,633,390 # Buckle, Inc. (The) 23,083 1,129,682 #* Buffalo Wild Wings, Inc. 14,655 2,089,510 * Build-A-Bear Workshop, Inc. 13,537 106,401 #* Cabela's, Inc. 51,832 3,074,674 # Cablevision Systems Corp. Class A 169,427 2,634,590 * Cache, Inc. 12,441 75,019 #* Caesars Entertainment Corp. 63,258 1,101,954 # Callaway Golf Co. 63,938 538,997 * Cambium Learning Group, Inc. 45,231 66,037 Canterbury Park Holding Corp. 2,402 27,167 * Capella Education Co. 9,952 606,276 * Career Education Corp. 66,635 365,160 * CarMax, Inc. 73,258 3,442,393 * Carmike Cinemas, Inc. 17,768 406,710 Carnival Corp. 139,507 4,833,918 Carriage Services, Inc. 12,876 258,679 * Carrols Restaurant Group, Inc. 20,551 119,196 # Carter's, Inc. 46,502 3,215,613 # Cato Corp. (The) Class A 27,100 812,187 #* Cavco Industries, Inc. 6,593 386,152 CBS Corp. Class A 9,684 572,421 CBS Corp. Class B 161,638 9,559,271 CEC Entertainment, Inc. 13,945 646,351 #* Central European Media Enterprises, Ltd. Class A 30,475 93,558 #* Charles & Colvard, Ltd. 13,875 73,676 * Charter Communications, Inc. Class A 27,559 3,699,520 # Cheesecake Factory, Inc. (The) 42,117 1,990,028 Cherokee, Inc. 2,552 35,013 Chico's FAS, Inc. 116,076 1,990,703 * Children's Place Retail Stores, Inc. (The) 22,532 1,230,022 * Chipotle Mexican Grill, Inc. 10,500 5,533,185 # Choice Hotels International, Inc. 45,307 2,110,853 * Christopher & Banks Corp. 19,052 109,930 Churchill Downs, Inc. 17,180 1,475,934 Cinemark Holdings, Inc. 88,435 2,901,552 * Citi Trends, Inc. 14,593 214,225 * Clear Channel Outdoor Holdings, Inc. Class A 30,501 259,258 Coach, Inc. 77,270 3,916,044 * Coast Distribution System (The) 890 3,066 * Cobra Electronics Corp. 4,559 13,267 #* Coldwater Creek, Inc. 1,758 1,758 # Collectors Universe 3,602 59,973 Columbia Sportswear Co. 30,427 2,034,653 Comcast Corp. Class A 725,325 34,510,963 Comcast Corp. Special Class A 168,043 7,780,391 #* Conn's, Inc. 28,786 1,739,826 # Cooper Tire & Rubber Co. 56,307 1,464,545 Core-Mark Holding Co., Inc. 11,301 799,320 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Consumer Discretionary -- (Continued) #* Corinthian Colleges, Inc. 82,909 $ 177,425 Cracker Barrel Old Country Store, Inc. 18,384 2,019,850 * Crocs, Inc. 74,760 910,577 * Crown Media Holdings, Inc. Class A 16,884 56,055 CSS Industries, Inc. 2,658 68,816 # CST Brands, Inc. 35,409 1,141,586 CTC Media, Inc. 130,454 1,648,939 Culp, Inc. 10,140 196,209 #* Cumulus Media, Inc. Class A 18,186 108,752 Dana Holding Corp. 132,430 2,595,628 Darden Restaurants, Inc. 60,124 3,098,190 #* Deckers Outdoor Corp. 26,488 1,823,169 #* dELiA*s, Inc. 2,914 4,021 Delphi Automotive P.L.C. 64,341 3,680,305 * Delta Apparel, Inc. 6,441 121,735 Destination Maternity Corp. 10,540 329,270 * Destination XL Group, Inc. 49,298 342,621 # DeVry, Inc. 60,546 2,173,601 * DGSE Cos., Inc. 3,733 9,332 Dick's Sporting Goods, Inc. 30,904 1,644,402 * Digital Generation, Inc. 26,827 339,362 Dillard's, Inc. Class A 41,848 3,430,699 DineEquity, Inc. 18,961 1,556,129 * DIRECTV 130,949 8,183,003 #* Discovery Communications, Inc. Class A 34,988 3,111,133 * Discovery Communications, Inc. Class B 1,400 123,690 * Discovery Communications, Inc. Class C 22,092 1,827,229 DISH Network Corp. Class A 51,822 2,497,820 * Dixie Group, Inc. (The) 3,689 46,481 * Dollar General Corp. 66,655 3,851,326 * Dollar Tree, Inc. 74,410 4,345,544 Domino's Pizza, Inc. 44,206 2,964,454 Dorman Products, Inc. 28,803 1,400,114 Dover Downs Gaming & Entertainment, Inc. 8,520 12,865 Dover Motorsports, Inc. 3,182 7,510 DR Horton, Inc. 219,609 4,161,591 #* DreamWorks Animation SKG, Inc. Class A 75,602 2,588,612 Drew Industries, Inc. 18,796 944,687 DSW, Inc. Class A 29,224 2,562,068 # Dunkin' Brands Group, Inc. 76,517 3,648,331 #* Education Management Corp. 52,147 797,849 # Educational Development Corp. 1,932 5,526 Einstein Noah Restaurant Group, Inc. 11,040 196,954 * Emerson Radio Corp. 14,810 28,287 #* Entercom Communications Corp. Class A 23,008 201,780 Entravision Communications Corp. Class A 33,098 223,081 Escalade, Inc. 5,323 46,949 # Ethan Allen Interiors, Inc. 20,924 557,415 * Ever-Glory International Group, Inc. 1,700 7,310 * EW Scripps Co. Class A 41,271 817,991 # Expedia, Inc. 69,202 4,074,614 * Express, Inc. 67,193 1,559,550 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Consumer Discretionary -- (Continued) #* FAB Universal Corp. 12,591 $ 78,946 Family Dollar Stores, Inc. 38,570 2,656,702 #* Famous Dave's Of America, Inc. 3,905 70,485 * Federal-Mogul Corp. 66,167 1,355,762 * Fiesta Restaurant Group, Inc. 15,027 636,995 * Fifth & Pacific Cos., Inc. 97,440 2,581,186 Finish Line, Inc. (The) Class A 48,592 1,216,744 * Flanigan's Enterprises, Inc. 300 3,324 Flexsteel Industries, Inc. 3,267 89,712 Foot Locker, Inc. 147,487 5,117,799 Ford Motor Co. 858,980 14,697,148 * Fossil Group, Inc. 21,765 2,762,849 # Fred's, Inc. Class A 30,384 492,221 Frisch's Restaurants, Inc. 2,853 68,672 * Fuel Systems Solutions, Inc. 18,605 334,146 #* Full House Resorts, Inc. 8,200 22,550 #* G-III Apparel Group, Ltd. 18,232 1,034,119 * Gaiam, Inc. Class A 8,701 54,555 # GameStop Corp. Class A 108,286 5,936,239 # Gaming Partners International Corp. 4,515 37,474 Gannett Co., Inc. 207,876 5,751,929 Gap, Inc. (The) 163,399 6,044,129 # Garmin, Ltd. 129,864 6,071,142 * Geeknet, Inc. 3,235 62,047 * General Motors Co. 257,047 9,497,887 #* Genesco, Inc. 24,581 1,674,212 Gentex Corp. 99,909 2,941,321 #* Gentherm, Inc. 26,524 619,335 # Genuine Parts Co. 43,317 3,414,679 GNC Holdings, Inc. Class A 73,816 4,341,857 Goodyear Tire & Rubber Co. (The) 176,393 3,700,725 Gordmans Stores, Inc. 9,185 90,931 #* Grand Canyon Education, Inc. 31,853 1,505,691 * Gray Television, Inc. 51,027 431,178 * Gray Television, Inc. Class A 600 4,632 # Group 1 Automotive, Inc. 23,949 1,532,736 #* Groupon, Inc. 459,287 4,193,290 # Guess?, Inc. 78,673 2,458,531 H&R Block, Inc. 81,113 2,306,854 * Hallwood Group, Inc. (The) 252 2,408 * Hampshire Group, Ltd. 689 2,649 Hanesbrands, Inc. 68,346 4,655,730 Harley-Davidson, Inc. 69,090 4,424,524 Harman International Industries, Inc. 61,831 5,009,548 Harte-Hanks, Inc. 57,135 455,366 # Hasbro, Inc. 35,197 1,817,925 Hastings Entertainment, Inc. 1,400 2,884 Haverty Furniture Cos., Inc. 19,358 538,346 Haverty Furniture Cos., Inc. Class A 1,608 45,024 * Helen of Troy, Ltd. 31,522 1,472,708 #* hhgregg, Inc. 27,171 421,422 #* Hibbett Sports, Inc. 13,030 760,040 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Consumer Discretionary -- (Continued) Hillenbrand, Inc. 49,335 $ 1,392,234 * Hollywood Media Corp. 3,425 6,405 Home Depot, Inc. (The) 350,095 27,268,900 #* HomeAway, Inc. 58,166 1,724,622 Hooker Furniture Corp. 8,949 141,394 HSN, Inc. 37,382 1,958,817 * Hyatt Hotels Corp. Class A 32,938 1,567,849 #* Iconix Brand Group, Inc. 60,513 2,183,914 International Game Technology 207,451 3,900,079 International Speedway Corp. Class A 25,489 833,745 Interpublic Group of Cos., Inc. (The) 228,833 3,844,394 Interval Leisure Group, Inc. 42,832 1,039,533 #* iRobot Corp. 22,770 771,220 * Isle of Capri Casinos, Inc. 33,243 269,601 #* ITT Educational Services, Inc. 8,984 360,438 * Jack in the Box, Inc. 34,353 1,397,480 # JAKKS Pacific, Inc. 12,915 83,173 * Jarden Corp. 49,450 2,737,552 #* JC Penney Co., Inc. 124,572 934,290 # John Wiley & Sons, Inc. Class A 46,295 2,328,176 John Wiley & Sons, Inc. Class B 4,638 233,315 Johnson Controls, Inc. 217,303 10,028,533 Johnson Outdoors, Inc. Class A 8,183 224,460 Jones Group, Inc. (The) 73,015 1,134,653 #* Jos A Bank Clothiers, Inc. 26,177 1,255,972 * Journal Communications, Inc. Class A 42,942 358,566 * K12, Inc. 29,920 546,938 # KB Home 62,897 1,067,362 * Kid Brands, Inc. 17,697 24,687 * Kirkland's, Inc. 14,248 252,902 # Kohl's Corp. 162,016 9,202,509 * Kona Grill, Inc. 4,321 59,327 Koss Corp. 1,533 7,665 #* Krispy Kreme Doughnuts, Inc. 50,457 1,224,087 L Brands, Inc. 126,640 7,928,930 La-Z-Boy, Inc. 47,258 1,090,715 * Lakeland Industries, Inc. 3,968 21,546 * Lamar Advertising Co. Class A 59,605 2,724,545 Las Vegas Sands Corp. 81,936 5,753,546 * Lazare Kaplan International, Inc. 1,600 2,704 #* LeapFrog Enterprises, Inc. 38,081 325,973 Lear Corp. 63,940 4,948,317 #* Learning Tree International, Inc. 6,151 17,653 #* Lee Enterprises, Inc. 20,446 56,226 # Leggett & Platt, Inc. 99,483 2,958,624 # Lennar Corp. Class A 110,902 3,942,566 Lennar Corp. Class B 17,482 515,195 * Libbey, Inc. 12,000 256,200 * Liberty Global P.L.C. Class A 51,144 4,008,155 * Liberty Global P.L.C. Class B 488 38,328 * Liberty Global P.L.C. Series C 40,711 3,047,625 * Liberty Interactive Corp. Class A 359,636 9,695,787 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Consumer Discretionary -- (Continued) * Liberty Interactive Corp. Class B 6,948 $ 187,457 * Liberty Media Corp. Class A 82,494 12,614,158 * Liberty Media Corp. Class B 2,392 360,642 * Liberty Ventures Series A 18,793 2,017,804 * Liberty Ventures Series B 347 37,438 #* Life Time Fitness, Inc. 42,597 1,934,756 Lifetime Brands, Inc. 8,749 137,009 * LIN Media LLC Class A 26,577 652,997 Lincoln Educational Services Corp. 13,802 65,974 #* Lions Gate Entertainment Corp. 53,677 1,856,151 Lithia Motors, Inc. Class A 18,568 1,166,999 * Live Nation Entertainment, Inc. 193,895 3,769,319 * LKQ Corp. 152,344 5,031,922 Loral Space & Communications, Inc. 14,301 1,020,662 Lowe's Cos., Inc. 296,705 14,769,975 * Luby's, Inc. 19,164 146,796 #* Lululemon Athletica, Inc. 34,553 2,385,885 #* Lumber Liquidators Holdings, Inc. 17,293 1,974,688 #* M/I Homes, Inc. 18,767 384,160 Mac-Gray Corp. 10,726 226,104 Macy's, Inc. 207,226 9,555,191 * Madison Square Garden Co. (The) Class A 62,809 3,801,201 Marcus Corp. 15,379 220,842 Marine Products Corp. 20,779 194,699 * MarineMax, Inc. 21,536 317,225 Marriott International, Inc. Class A 95,503 4,305,275 * Marriott Vacations Worldwide Corp. 6,298 315,404 * Martha Stewart Living Omnimedia Class A 30,526 78,147 Mattel, Inc. 102,700 4,556,799 Matthews International Corp. Class A 25,846 1,049,348 #* McClatchy Co. (The) Class A 50,664 142,872 McDonald's Corp. 237,696 22,942,418 # MDC Holdings, Inc. 44,183 1,289,702 #* Media General, Inc. Class A 15,715 229,125 Men's Wearhouse, Inc. (The) 47,117 1,993,049 # Meredith Corp. 31,655 1,623,901 * Meritage Homes Corp. 33,512 1,521,110 * MGM Resorts International 356,931 6,795,966 * Michael Kors Holdings, Ltd. 62,180 4,784,751 * Modine Manufacturing Co. 43,466 578,967 * Mohawk Industries, Inc. 53,993 7,149,753 * Monarch Casino & Resort, Inc. 14,955 252,889 # Monro Muffler Brake, Inc. 24,520 1,127,920 # Morningstar, Inc. 36,540 2,933,797 * Motorcar Parts of America, Inc. 12,654 173,107 Movado Group, Inc. 16,841 785,296 * MTR Gaming Group, Inc. 15,484 80,517 * Multimedia Games Holding Co., Inc. 8,600 279,586 * Murphy USA, Inc. 33,167 1,345,917 NACCO Industries, Inc. Class A 6,164 351,163 #* Nathan's Famous, Inc. 2,974 152,626 National CineMedia, Inc. 45,562 798,246 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Consumer Discretionary -- (Continued) #* Nautilus, Inc. 24,139 $ 192,146 * Netflix, Inc. 17,337 5,590,836 #* Nevada Gold & Casinos, Inc. 700 735 * New York & Co., Inc. 53,002 271,370 # New York Times Co. (The) Class A 116,748 1,614,625 # Newell Rubbermaid, Inc. 89,728 2,658,641 * News Corp. Class A 112,735 1,984,136 * News Corp. Class B 33,001 591,708 # Nexstar Broadcasting Group, Inc. Class A 17,890 794,137 NIKE, Inc. Class B 166,431 12,608,813 * Nobility Homes, Inc. 1,105 10,221 # Nordstrom, Inc. 57,405 3,471,280 # Nutrisystem, Inc. 17,391 326,951 * NVR, Inc. 3,022 2,772,141 * O'Reilly Automotive, Inc. 44,614 5,523,659 * Office Depot, Inc. 258,089 1,442,718 OfficeMax, Inc. 75,373 1,129,088 Omnicom Group, Inc. 52,804 3,596,480 * Orbitz Worldwide, Inc. 53,526 494,580 * Orient-Express Hotels, Ltd. Class A 83,221 1,107,672 #* Outerwall, Inc. 20,260 1,316,495 * Overstock.com, Inc. 7,087 166,048 Oxford Industries, Inc. 13,031 935,235 * P&F Industries, Inc. Class A 504 3,891 * Pacific Sunwear of California, Inc. 44,547 119,831 #* Panera Bread Co. Class A 13,125 2,072,700 Papa John's International, Inc. 14,777 1,118,176 * Penn National Gaming, Inc. 76,114 4,453,430 Penske Automotive Group, Inc. 89,566 3,548,605 * Pep Boys-Manny Moe & Jack (The) 47,946 620,421 * Perfumania Holdings, Inc. 2,203 10,244 Perry Ellis International, Inc. 13,637 259,239 # PetMed Express, Inc. 14,214 210,936 # PetSmart, Inc. 30,672 2,231,695 Pier 1 Imports, Inc. 82,564 1,723,936 * Pinnacle Entertainment, Inc. 36,695 858,663 # Polaris Industries, Inc. 21,538 2,820,401 Pool Corp. 26,379 1,434,490 #* Premier Exhibitions, Inc. 8,500 11,390 * priceline.com, Inc. 12,061 12,710,244 PulteGroup, Inc. 285,154 5,032,968 PVH Corp. 60,677 7,558,534 * QEP Co., Inc. 352 6,952 #* Quiksilver, Inc. 164,480 1,368,474 #* Radio One, Inc. Class D 16,485 49,455 #* RadioShack Corp. 72,896 204,838 Ralph Lauren Corp. 12,909 2,138,247 * Reading International, Inc. Class A 5,859 38,787 * Red Lion Hotels Corp. 13,744 82,739 * Red Robin Gourmet Burgers, Inc. 12,370 942,347 # Regal Entertainment Group Class A 103,841 1,974,017 # Regis Corp. 51,358 744,691 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Consumer Discretionary -- (Continued) Rent-A-Center, Inc. 52,497 $ 1,797,497 #* Rentrak Corp. 4,450 166,830 RG Barry Corp. 7,819 149,187 * Rick's Cabaret International, Inc. 7,842 88,536 Rocky Brands, Inc. 5,087 77,119 Ross Stores, Inc. 87,976 6,804,944 Royal Caribbean Cruises, Ltd. 174,781 7,347,793 * Ruby Tuesday, Inc. 54,383 322,491 Ruth's Hospitality Group, Inc. 27,546 335,786 # Ryland Group, Inc. (The) 33,627 1,351,805 Saga Communications, Inc. Class A 1,544 73,510 * Saks, Inc. 135,022 2,159,002 Salem Communications Corp. Class A 12,181 100,615 #* Sally Beauty Holdings, Inc. 107,775 2,836,638 # Scholastic Corp. 19,372 555,783 * Scientific Games Corp. Class A 76,458 1,397,652 Scripps Networks Interactive, Inc. Class A 33,828 2,723,154 #* Sears Holdings Corp. 74,551 4,329,922 #* Select Comfort Corp. 26,630 487,862 Service Corp. International/US 210,411 3,789,502 * SHFL Entertainment, Inc. 40,592 940,923 Shiloh Industries, Inc. 13,338 219,010 Shoe Carnival, Inc. 19,622 509,976 * Shutterfly, Inc. 30,034 1,475,871 # Signet Jewelers, Ltd. 66,470 4,962,650 # Sinclair Broadcast Group, Inc. Class A 54,966 1,762,210 # Sirius XM Radio, Inc. 1,257,082 4,739,199 Six Flags Entertainment Corp. 63,935 2,404,595 * Skechers U.S.A., Inc. Class A 36,498 1,063,552 * Skullcandy, Inc. 5,718 35,909 * Skyline Corp. 4,311 18,839 #* Smith & Wesson Holding Corp. 8,213 88,536 # Sonic Automotive, Inc. Class A 39,820 887,190 * Sonic Corp. 26,707 515,445 # Sotheby's 47,094 2,444,179 * Spanish Broadcasting System, Inc. Class A 1,868 7,397 Spartan Motors, Inc. 26,134 177,450 * Spectrum Group International, Inc. 385 685 Speedway Motorsports, Inc. 31,204 569,785 * Sport Chalet, Inc. Class A 2,817 3,240 * Sport Chalet, Inc. Class B 238 308 * Spy, Inc. 335 402 # Stage Stores, Inc. 30,335 626,418 # Standard Motor Products, Inc. 21,909 792,229 #* Standard Pacific Corp. 175,204 1,389,368 * Stanley Furniture Co., Inc. 8,749 34,034 # Staples, Inc. 486,673 7,845,169 Starbucks Corp. 171,929 13,934,845 Starwood Hotels & Resorts Worldwide, Inc. 60,016 4,418,378 * Starz - Liberty Capital Class A 100,881 3,041,562 * Starz - Liberty Capital Class B 2,392 72,286 Stein Mart, Inc. 35,782 528,500 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Consumer Discretionary -- (Continued) * Steiner Leisure, Ltd. 13,694 $ 767,138 * Steven Madden, Ltd. 54,909 2,014,062 Stewart Enterprises, Inc. Class A 48,183 636,497 * Stoneridge, Inc. 27,634 352,610 Strattec Security Corp. 2,038 82,580 # Strayer Education, Inc. 3,851 152,230 # Sturm Ruger & Co., Inc. 9,700 634,477 Superior Industries International, Inc. 21,344 400,200 Superior Uniform Group, Inc. 5,000 75,500 Systemax, Inc. 27,440 260,680 #* Tandy Leather Factory, Inc. 1,146 9,512 Target Corp. 133,365 8,640,718 #* Tempur-Pedic International, Inc. 24,206 928,300 * Tenneco, Inc. 26,950 1,430,236 #* Tesla Motors, Inc. 77,284 12,360,803 Texas Roadhouse, Inc. 55,204 1,513,694 # Thor Industries, Inc. 42,199 2,447,964 Tiffany & Co. 38,123 3,018,198 Time Warner Cable, Inc. 96,502 11,594,715 Time Warner, Inc. 312,767 21,499,604 TJX Cos., Inc. 167,300 10,170,167 #* Toll Brothers, Inc. 127,325 4,186,446 * Tower International, Inc. 1,990 42,228 Town Sports International Holdings, Inc. 14,859 191,978 Tractor Supply Co. 70,004 4,994,785 Trans World Entertainment Corp. 200 866 * Trinity Place Holdings, Inc. 892 4,505 #* TripAdvisor, Inc. 38,809 3,209,892 * TRW Automotive Holdings Corp. 86,222 6,476,134 * Tuesday Morning Corp. 27,700 391,955 # Tupperware Brands Corp. 32,867 2,946,527 Twenty-First Century Fox, Inc. Class A 450,943 15,368,137 Twenty-First Century Fox, Inc. Class B 229,192 7,792,528 * Ulta Salon Cosmetics & Fragrance, Inc. 21,433 2,761,642 #* Under Armour, Inc. Class A 30,080 2,440,992 * Unifi, Inc. 15,429 376,313 * Universal Electronics, Inc. 12,210 475,091 Universal Technical Institute, Inc. 16,908 224,707 #* UQM Technologies, Inc. 12,948 20,069 * Urban Outfitters, Inc. 77,100 2,920,548 * US Auto Parts Network, Inc. 14,602 25,992 Vail Resorts, Inc. 34,963 2,463,143 # Valassis Communications, Inc. 33,693 921,840 # Value Line, Inc. 2,920 27,244 * Valuevision Media, Inc. Class A 36,640 195,658 VF Corp. 26,502 5,697,930 Viacom, Inc. Class A 7,238 604,735 Viacom, Inc. Class B 104,556 8,708,469 * Visteon Corp. 47,524 3,663,625 * Vitacost.com, Inc. 1,340 10,599 #* Vitamin Shoppe, Inc. 19,561 917,607 * VOXX International Corp. 20,275 314,465 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- -------------- Consumer Discretionary -- (Continued) Walt Disney Co. (The) 447,208 $ 30,673,997 Washington Post Co. (The) Class B 6,410 4,123,681 Weight Watchers International, Inc. 38,632 1,240,474 * Wells-Gardner Electronics Corp. 2,858 4,801 # Wendy's Co. (The) 426,608 3,707,224 * West Marine, Inc. 17,350 211,843 #* Wet Seal, Inc. (The) Class A 78,804 260,841 Weyco Group, Inc. 6,018 172,897 Whirlpool Corp. 58,066 8,478,217 # Williams-Sonoma, Inc. 74,226 3,892,411 # Winmark Corp. 2,250 164,722 * Winnebago Industries, Inc. 19,097 566,417 # Wolverine World Wide, Inc. 37,488 2,164,557 World Wrestling Entertainment, Inc. Class A 23,448 303,652 Wyndham Worldwide Corp. 84,920 5,638,688 Wynn Resorts, Ltd. 31,740 5,276,775 Yum! Brands, Inc. 105,083 7,105,712 #* Zagg, Inc. 15,716 74,494 * Zale Corp. 30,200 472,026 #* Zumiez, Inc. 23,135 685,721 -------------- Total Consumer Discretionary 1,096,759,629 -------------- Consumer Staples -- (6.7%) Alico, Inc. 5,837 233,247 * Alliance One International, Inc. 82,516 245,073 Altria Group, Inc. 476,056 17,723,565 Andersons, Inc. (The) 18,474 1,370,401 Archer-Daniels-Midland Co. 226,909 9,280,578 Arden Group, Inc. Class A 827 107,510 Avon Products, Inc. 123,718 2,165,065 # B&G Foods, Inc. 41,959 1,420,312 Beam, Inc. 120,568 8,114,226 #* Boston Beer Co., Inc. (The) Class A 1,694 388,925 * Boulder Brands, Inc. 48,729 798,668 Bridgford Foods Corp. 2,501 25,235 Brown-Forman Corp. Class A 20,568 1,482,541 # Brown-Forman Corp. Class B 47,020 3,431,520 Bunge, Ltd. 108,127 8,880,471 # Cal-Maine Foods, Inc. 21,474 1,089,376 # Calavo Growers, Inc. 10,601 314,744 # Campbell Soup Co. 92,581 3,941,173 # Casey's General Stores, Inc. 28,761 2,096,102 CCA Industries, Inc. 3,400 10,506 * Central Garden and Pet Co. 11,250 85,388 * Central Garden and Pet Co. Class A 28,522 209,922 #* Chefs' Warehouse, Inc. (The) 3,005 72,000 * Chiquita Brands International, Inc. 39,234 406,072 Church & Dwight Co., Inc. 39,802 2,593,100 # Clorox Co. (The) 37,491 3,381,313 Coca-Cola Bottling Co. Consolidated 6,393 404,805 Coca-Cola Co. (The) 932,501 36,899,065 Coca-Cola Enterprises, Inc. 158,730 6,623,803 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Consumer Staples -- (Continued) # Coffee Holding Co., Inc. 300 $ 1,602 Colgate-Palmolive Co. 214,277 13,870,150 ConAgra Foods, Inc. 230,572 7,334,495 * Constellation Brands, Inc. Class A 132,407 8,646,177 * Constellation Brands, Inc. Class B 3,160 202,572 Costco Wholesale Corp. 107,184 12,647,712 * Craft Brew Alliance, Inc. 12,601 204,388 #* Crimson Wine Group, Ltd. 15,327 134,111 CVS Caremark Corp. 419,936 26,145,215 * Darling International, Inc. 116,122 2,702,159 * Dean Foods Co. 86,737 1,691,372 #* Diamond Foods, Inc. 12,571 306,858 #* Dole Food Co., Inc. 77,091 1,044,583 Dr Pepper Snapple Group, Inc. 95,427 4,518,468 #* Elizabeth Arden, Inc. 22,020 796,904 Energizer Holdings, Inc. 44,811 4,396,407 Estee Lauder Cos., Inc. (The) Class A 53,719 3,811,900 * Farmer Bros Co. 11,742 212,061 Flowers Foods, Inc. 163,819 4,151,173 Fresh Del Monte Produce, Inc. 55,007 1,462,636 #* Fresh Market, Inc. (The) 16,456 837,775 General Mills, Inc. 149,520 7,538,798 Golden Enterprises, Inc. 3,860 16,173 #* Green Mountain Coffee Roasters, Inc. 45,650 2,867,277 # Griffin Land & Nurseries, Inc. 2,756 90,948 * Hain Celestial Group, Inc. (The) 34,631 2,882,338 #* Harbinger Group, Inc. 3,819 41,589 Harris Teeter Supermarkets, Inc. 44,913 2,215,109 # Herbalife, Ltd. 37,016 2,399,377 # Hershey Co. (The) 31,118 3,088,150 Hillshire Brands Co. 53,760 1,764,941 # Hormel Foods Corp. 70,198 3,050,805 #* IGI Laboratories, Inc. 921 2,017 Ingles Markets, Inc. Class A 12,818 330,833 Ingredion, Inc. 59,285 3,898,582 Inter Parfums, Inc. 29,298 1,030,118 * Inventure Foods, Inc. 1,478 16,642 # J&J Snack Foods Corp. 14,145 1,210,388 JM Smucker Co. (The) 78,326 8,710,634 John B Sanfilippo & Son, Inc. 5,956 146,398 Kellogg Co. 52,533 3,322,712 Kimberly-Clark Corp. 90,415 9,764,820 Kraft Foods Group, Inc. 160,569 8,731,742 Kroger Co. (The) 121,426 5,201,890 Lancaster Colony Corp. 21,655 1,797,148 # Lifeway Foods, Inc. 3,699 54,116 # Limoneira Co. 244 6,427 Lorillard, Inc. 91,750 4,680,167 * Mannatech, Inc. 740 17,457 # McCormick & Co., Inc.(579780107) 3,498 238,109 # McCormick & Co., Inc.(579780206) 36,702 2,537,943 Mead Johnson Nutrition Co. 57,916 4,729,421 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Consumer Staples -- (Continued) #* Medifast, Inc. 11,518 $ 268,485 MGP Ingredients, Inc. 10,602 56,085 # Molson Coors Brewing Co. Class A 1,162 64,020 Molson Coors Brewing Co. Class B 116,416 6,286,464 Mondelez International, Inc. Class A 575,836 19,371,123 * Monster Beverage Corp. 68,582 3,924,948 Nash Finch Co. 10,100 283,406 National Beverage Corp. 20,329 372,224 * Natural Alternatives International, Inc. 2,740 16,741 # Nature's Sunshine Products, Inc. 200 3,778 Nu Skin Enterprises, Inc. Class A 29,862 3,491,764 Nutraceutical International Corp. 8,476 203,848 Oil-Dri Corp. of America 4,211 149,448 * Omega Protein Corp. 16,210 151,726 # Orchids Paper Products Co. 3,281 100,071 * Pantry, Inc. (The) 18,588 248,893 PepsiCo, Inc. 378,786 31,852,115 Philip Morris International, Inc. 379,444 33,816,049 * Pilgrim's Pride Corp. 135,481 1,919,766 * Post Holdings, Inc. 31,510 1,353,355 * Prestige Brands Holdings, Inc. 49,109 1,533,674 # Pricesmart, Inc. 14,418 1,640,624 #* Primo Water Corp. 5,500 13,695 Procter & Gamble Co. (The) 620,688 50,120,556 # Reliv International, Inc. 2,740 6,932 * Revlon, Inc. Class A 28,767 683,216 Reynolds American, Inc. 76,198 3,914,291 * Rite Aid Corp. 722,959 3,853,371 Rocky Mountain Chocolate Factory, Inc. 3,966 50,289 Safeway, Inc. 179,653 6,269,890 Sanderson Farms, Inc. 23,163 1,464,133 Seaboard Corp. 540 1,474,200 * Seneca Foods Corp. Class A 7,423 217,642 * Seneca Foods Corp. Class B 1,493 44,044 # Snyders-Lance, Inc. 67,580 2,026,724 Spartan Stores, Inc. 18,534 436,105 Spectrum Brands Holdings, Inc. 49,030 3,232,058 #* Susser Holdings Corp. 20,501 1,124,275 # Sysco Corp. 137,476 4,445,974 * Tofutti Brands, Inc. 456 1,277 # Tootsie Roll Industries, Inc. 25,061 801,952 * TreeHouse Foods, Inc. 36,495 2,673,624 Tyson Foods, Inc. Class A 210,250 5,817,617 * United Natural Foods, Inc. 32,699 2,336,344 United-Guardian, Inc. 1,741 43,891 # Universal Corp. 19,514 1,034,827 #* USANA Health Sciences, Inc. 9,599 654,940 # Vector Group, Ltd. 58,663 948,581 Village Super Market, Inc. Class A 4,375 160,388 Wal-Mart Stores, Inc. 421,387 32,341,452 Walgreen Co. 278,962 16,525,709 WD-40 Co. 11,680 846,683 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ------------ Consumer Staples -- (Continued) Weis Markets, Inc. 22,796 $ 1,166,471 * WhiteWave Foods Co. Class A 76,022 1,521,200 Whole Foods Market, Inc. 110,858 6,998,466 ------------ Total Consumer Staples 551,655,917 ------------ Energy -- (9.4%) * Abraxas Petroleum Corp. 3,201 9,251 Adams Resources & Energy, Inc. 3,234 167,424 # Alon USA Energy, Inc. 51,025 616,382 #* Alpha Natural Resources, Inc. 194,089 1,358,623 Anadarko Petroleum Corp. 169,388 16,140,983 Apache Corp. 131,482 11,675,602 #* Approach Resources, Inc. 32,109 903,868 # Arch Coal, Inc. 182,324 773,054 * Atwood Oceanics, Inc. 64,317 3,417,162 Baker Hughes, Inc. 138,244 8,030,594 * Barnwell Industries, Inc. 4,663 16,554 #* Basic Energy Services, Inc. 36,773 539,460 Berry Petroleum Co. Class A 43,064 2,056,306 #* Bill Barrett Corp. 39,573 1,094,985 #* BioFuel Energy Corp. 530 1,823 Bolt Technology Corp. 7,091 126,858 #* Bonanza Creek Energy, Inc. 37,506 1,895,553 #* BPZ Resources, Inc. 97,710 196,397 Bristow Group, Inc. 33,119 2,665,086 #* C&J Energy Services, Inc. 48,187 1,110,228 Cabot Oil & Gas Corp. 188,708 6,665,167 #* Cal Dive International, Inc. 72,892 143,597 * Callon Petroleum Co. 36,062 246,303 * Cameron International Corp. 55,947 3,069,252 # CARBO Ceramics, Inc. 12,827 1,607,736 #* Carrizo Oil & Gas, Inc. 39,515 1,732,338 * Cheniere Energy, Inc. 139,133 5,537,493 # Chesapeake Energy Corp. 464,456 12,986,190 Chevron Corp. 671,031 80,496,879 Cimarex Energy Co. 64,458 6,790,650 * Clayton Williams Energy, Inc. 9,385 730,435 #* Clean Energy Fuels Corp. 54,100 616,199 * Cloud Peak Energy, Inc. 51,882 809,878 * Cobalt International Energy, Inc. 123,680 2,870,613 # Comstock Resources, Inc. 44,876 767,828 * Concho Resources, Inc. 71,512 7,909,942 ConocoPhillips 409,670 30,028,811 CONSOL Energy, Inc. 164,928 6,019,872 Contango Oil & Gas Co. 15,327 656,780 #* Continental Resources, Inc. 14,629 1,666,243 Core Laboratories NV 13,218 2,474,674 Crosstex Energy, Inc. 37,902 1,163,212 * Dawson Geophysical Co. 8,468 247,604 Delek US Holdings, Inc. 54,557 1,393,931 * Denbury Resources, Inc. 277,808 5,275,574 Devon Energy Corp. 135,984 8,596,908 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ --------- ------------ Energy -- (Continued) DHT Holdings, Inc. 4,917 $ 25,224 # Diamond Offshore Drilling, Inc. 74,831 4,634,284 * Double Eagle Petroleum Co. 6,980 19,404 * Dresser-Rand Group, Inc. 60,567 3,680,657 * Dril-Quip, Inc. 32,284 3,790,787 * Emerald Oil, Inc. 45,336 394,423 #* Endeavour International Corp. 30,906 183,582 Energen Corp. 54,960 4,304,467 # Energy XXI Bermuda, Ltd. 70,568 2,050,706 * ENGlobal Corp. 13,200 14,520 EOG Resources, Inc. 87,256 15,566,470 * EPL Oil & Gas, Inc. 41,087 1,309,854 EQT Corp. 47,997 4,109,023 * Era Group, Inc. 19,323 610,607 * Evolution Petroleum Corp. 7,409 89,353 * Exterran Holdings, Inc. 59,646 1,702,893 Exxon Mobil Corp. 1,499,029 134,342,979 #* FieldPoint Petroleum Corp. 4,233 20,318 * FMC Technologies, Inc. 67,645 3,419,455 #* Forest Oil Corp. 21,506 101,938 #* FX Energy, Inc. 10,965 38,158 #* Gastar Exploration, Ltd. 16,499 71,276 #* Geospace Technologies Corp. 7,802 760,071 #* Gevo, Inc. 4,451 7,567 #* Global Geophysical Services, Inc. 30,846 73,722 #* Goodrich Petroleum Corp. 6,972 163,075 # Green Plains Renewable Energy, Inc. 26,557 428,364 * Gulf Coast Ultra Deep Royalty Trust 122,555 296,583 Gulf Island Fabrication, Inc. 12,190 307,432 Gulfmark Offshore, Inc. Class A 27,308 1,359,392 * Gulfport Energy Corp. 55,801 3,274,961 #* Halcon Resources Corp. 63,794 330,453 Halliburton Co. 212,387 11,262,883 #* Harvest Natural Resources, Inc. 33,762 168,810 * Helix Energy Solutions Group, Inc. 103,822 2,456,429 Helmerich & Payne, Inc. 77,368 5,999,888 * Hercules Offshore, Inc. 135,628 922,270 Hess Corp. 108,993 8,850,232 * HKN, Inc. 239 17,806 HollyFrontier Corp. 137,394 6,328,368 * Hornbeck Offshore Services, Inc. 31,447 1,738,076 * Houston American Energy Corp. 5,544 1,441 #* ION Geophysical Corp. 140,575 652,268 #* James River Coal Co. 28,866 55,423 * Key Energy Services, Inc. 128,668 1,006,184 Kinder Morgan, Inc. 222,564 7,858,735 Knightsbridge Tankers, Ltd. 4,516 37,212 #* Kodiak Oil & Gas Corp. 202,829 2,630,692 * Kosmos Energy, Ltd. 105,200 1,121,432 * Laredo Petroleum Holdings, Inc. 112,696 3,580,352 #* Lone Pine Resources, Inc. 19,747 454 #* Lucas Energy, Inc. 11,754 13,047 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Energy -- (Continued) #* Magnum Hunter Resources Corp. 125,633 $ 895,763 Marathon Oil Corp. 250,189 8,821,664 Marathon Petroleum Corp. 103,139 7,390,941 * Matador Resources Co. 42,830 788,500 * Matrix Service Co. 27,436 570,394 #* McDermott International, Inc. 205,264 1,451,216 * Mexco Energy Corp. 684 4,494 #* Miller Energy Resources, Inc. 1,630 11,019 * Mitcham Industries, Inc. 11,460 190,694 Murphy Oil Corp. 132,669 8,002,594 Nabors Industries, Ltd. 288,266 5,038,890 National Oilwell Varco, Inc. 134,414 10,911,729 * Natural Gas Services Group, Inc. 9,926 277,829 * Newfield Exploration Co. 137,806 4,196,193 * Newpark Resources, Inc. 88,348 1,126,437 Noble Corp. 205,127 7,733,288 Noble Energy, Inc. 121,132 9,076,421 # Nordic American Tankers, Ltd. 29,510 240,802 #* Northern Oil and Gas, Inc. 54,349 892,954 #* Nuverra Environmental Solutions, Inc. 166,626 406,567 * Oasis Petroleum, Inc. 74,262 3,954,452 Occidental Petroleum Corp. 273,715 26,298,537 Oceaneering International, Inc. 51,872 4,454,767 * Oil States International, Inc. 48,831 5,304,512 * Overseas Shipholding Group, Inc. 19,258 66,440 Panhandle Oil and Gas, Inc. Class A 5,393 181,043 * Parker Drilling Co. 118,668 854,410 # Patterson-UTI Energy, Inc. 138,277 3,354,600 * PDC Energy, Inc. 28,241 1,915,022 Peabody Energy Corp. 171,228 3,335,521 * Penn Virginia Corp. 63,562 540,913 * PetroQuest Energy, Inc. 46,451 219,249 #* PHI, Inc.(69336T106) 2,247 84,532 * PHI, Inc.(69336T205) 10,430 415,323 Phillips 66 184,803 11,906,857 * Pioneer Energy Services Corp. 54,296 456,086 Pioneer Natural Resources Co. 72,692 14,885,868 * PostRock Energy Corp. 1,437 2,098 * Pyramid Oil Co. 2,104 11,151 QEP Resources, Inc. 110,091 3,639,608 Range Resources Corp. 50,056 3,789,740 * Renewable Energy Group, Inc. 8,889 96,979 # Rentech, Inc. 153,569 262,603 * REX American Resources Corp. 7,500 216,300 #* Rex Energy Corp. 48,446 1,041,589 * RigNet, Inc. 2,682 98,859 * Rosetta Resources, Inc. 37,159 2,227,310 * Rowan Cos. P.L.C. Class A 131,542 4,746,035 #* Royale Energy, Inc. 400 1,076 # RPC, Inc. 112,941 2,071,338 * Sanchez Energy Corp. 2,262 64,490 #* SandRidge Energy, Inc. 493,021 3,125,753 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ------------ Energy -- (Continued) Schlumberger, Ltd. 299,627 $ 28,081,042 Scorpio Tankers, Inc. 9,100 105,014 SEACOR Holdings, Inc. 20,195 1,975,071 SemGroup Corp. Class A 40,763 2,461,678 # Ship Finance International, Ltd. 74,592 1,234,498 SM Energy Co. 62,394 5,528,732 * Southwestern Energy Co. 159,698 5,943,960 Spectra Energy Corp. 166,192 5,911,449 * Steel Excel, Inc. 6,102 169,331 * Stone Energy Corp. 49,304 1,718,737 * Superior Energy Services, Inc. 170,693 4,579,693 #* Swift Energy Co. 31,634 434,018 * Synergy Resources Corp. 47,465 491,737 # Targa Resources Corp. 15,423 1,196,208 # Teekay Corp. 67,941 2,950,678 * Tesco Corp. 31,341 538,438 Tesoro Corp. 101,223 4,948,792 * TETRA Technologies, Inc. 80,375 1,042,464 TGC Industries, Inc. 14,420 106,275 Tidewater, Inc. 50,590 3,046,530 # Transocean, Ltd. 112,505 5,295,610 * Triangle Petroleum Corp. 64,837 685,327 #* Ultra Petroleum Corp. 119,756 2,198,720 * Unit Corp. 47,631 2,448,710 #* Uranium Energy Corp. 21,851 38,458 #* Uranium Resources, Inc. 685 1,617 #* USEC, Inc. 2,738 22,068 * Vaalco Energy, Inc. 50,169 264,391 Valero Energy Corp. 308,688 12,708,685 # W&T Offshore, Inc. 75,225 1,436,045 * Warren Resources, Inc. 60,337 188,855 * Weatherford International, Ltd. 621,232 10,213,054 # Western Refining, Inc. 75,948 2,450,842 #* Westmoreland Coal Co. 3,276 46,552 * Whiting Petroleum Corp. 88,411 5,913,812 * Willbros Group, Inc. 48,083 469,290 Williams Cos., Inc. (The) 151,641 5,415,100 # World Fuel Services Corp. 69,160 2,638,454 #* WPX Energy, Inc. 216,418 4,791,495 #* Zion Oil & Gas, Inc. 16,343 26,803 ------------ Total Energy 782,853,985 ------------ Financials -- (15.7%) * 1st Constitution Bancorp 1,373 13,867 1st Source Corp. 20,203 633,970 1st United Bancorp Inc/Boca Raton 22,508 171,961 Access National Corp. 4,884 70,965 ACE, Ltd. 121,601 11,605,599 * Affiliated Managers Group, Inc. 21,536 4,252,068 Aflac, Inc. 156,999 10,201,795 * Alexander & Baldwin, Inc. 42,697 1,579,789 * Alleghany Corp. 12,172 4,934,772 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Financials -- (Continued) Alliance Bancorp, Inc. of Pennsylvania 1,546 $ 22,417 Allied World Assurance Co. Holdings AG 33,177 3,592,737 Allstate Corp. (The) 165,705 8,792,307 * Altisource Asset Management Corp. 909 581,469 * Altisource Portfolio Solutions SA 9,243 1,453,739 Ameriana Bancorp 456 6,174 * American Capital, Ltd. 276,188 3,869,394 # American Equity Investment Life Holding Co. 55,867 1,164,268 American Express Co. 241,143 19,725,497 American Financial Group, Inc. 88,194 4,961,794 * American Independence Corp. 371 4,111 American International Group, Inc. 492,240 25,424,196 # American National Bankshares, Inc. 3,768 86,438 American National Insurance Co. 19,731 1,994,212 * American River Bankshares 2,192 19,027 * American Spectrum Realty, Inc. 642 1,316 Ameriprise Financial, Inc. 129,219 12,991,678 * Ameris Bancorp 21,091 385,965 AMERISAFE, Inc. 17,730 682,605 AmeriServ Financial, Inc. 8,436 26,489 # Amtrust Financial Services, Inc. 74,733 2,866,758 Aon P.L.C. 84,747 6,702,640 #* Arch Capital Group, Ltd. 99,291 5,754,906 Argo Group International Holdings, Ltd. 26,125 1,096,727 # Arrow Financial Corp. 10,415 268,811 Arthur J Gallagher & Co. 68,818 3,265,414 Aspen Insurance Holdings, Ltd. 63,063 2,460,088 # Associated Banc-Corp. 167,338 2,720,916 Assurant, Inc. 74,901 4,380,210 Assured Guaranty, Ltd. 181,465 3,720,032 Asta Funding, Inc. 9,299 79,785 Astoria Financial Corp. 96,520 1,275,029 Atlantic American Corp. 2,737 11,085 * Atlantic Coast Financial Corp. 945 3,686 #* Atlanticus Holdings Corp. 14,132 49,321 Auburn National BanCorp., Inc. 335 8,576 * AV Homes, Inc. 8,825 168,557 Axis Capital Holdings, Ltd. 110,926 5,260,111 Baldwin & Lyons, Inc. Class A 638 17,140 Baldwin & Lyons, Inc. Class B 8,934 244,166 # Banc of California, Inc. 9,411 132,789 Bancfirst Corp. 13,897 772,256 * Bancorp, Inc. 36,156 584,643 # BancorpSouth, Inc. 94,937 2,098,108 Bank Mutual Corp. 38,610 245,560 Bank of America Corp. 3,834,941 53,535,776 Bank of Commerce Holdings 6,357 34,964 # Bank of Hawaii Corp. 40,636 2,356,075 Bank of Kentucky Financial Corp. 2,404 69,259 Bank of New York Mellon Corp. (The) 411,492 13,085,446 # Bank of the Ozarks, Inc. 27,480 1,359,710 BankFinancial Corp. 14,549 135,160 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Financials -- (Continued) BankUnited, Inc. 100,582 $ 3,094,908 Banner Corp. 19,283 737,768 Bar Harbor Bankshares 2,309 87,142 BB&T Corp. 244,187 8,295,032 BBCN Bancorp, Inc. 79,540 1,179,578 #* BBX Capital Corp. Class A 1,011 13,335 # BCB Bancorp, Inc. 4,090 45,235 * BCSB Bancorp, Inc. 711 18,095 * Beneficial Mutual Bancorp, Inc. 63,935 623,366 Berkshire Bancorp, Inc. 1,000 7,720 * Berkshire Hathaway, Inc. Class B 406,267 46,753,206 Berkshire Hills Bancorp, Inc. 23,502 596,246 BGC Partners, Inc. Class A 111,163 591,387 BlackRock, Inc. 43,905 13,207,063 #* BofI Holding, Inc. 10,917 659,605 BOK Financial Corp. 60,241 3,688,556 Boston Private Financial Holdings, Inc. 82,110 935,233 Bridge Bancorp, Inc. 2,089 48,235 #* Bridge Capital Holdings 4,396 77,326 Brookline Bancorp, Inc. 67,551 599,177 Brown & Brown, Inc. 145,544 4,647,220 * Brunswick Bancorp 40 202 Bryn Mawr Bank Corp. 11,404 317,715 C&F Financial Corp. 721 38,869 Calamos Asset Management, Inc. Class A 19,363 190,145 # California First National Bancorp 2,970 53,015 * Camco Financial Corp. 900 5,580 Camden National Corp. 7,297 294,434 Cape Bancorp, Inc. 4,558 41,979 * Capital Bank Financial Corp. Class A 1,269 28,197 * Capital City Bank Group, Inc. 11,641 143,184 Capital One Financial Corp. 209,306 14,373,043 (d) Capital Properties, Inc., 5.000% 540 540 Capital Properties, Inc. Class A 600 4,800 Capital Southwest Corp. 8,660 284,654 CapitalSource, Inc. 222,501 2,910,313 Capitol Federal Financial, Inc. 146,438 1,855,369 Cardinal Financial Corp. 30,164 497,706 * Carolina Bank Holdings, Inc. 900 9,081 # Cash America International, Inc. 26,330 1,038,718 Cathay General Bancorp 78,006 1,921,288 CBOE Holdings, Inc. 36,492 1,769,862 * CBRE Group, Inc. Class A 101,402 2,355,568 Center Bancorp, Inc. 12,199 182,497 Centerstate Banks, Inc. 22,455 221,406 # Central Pacific Financial Corp. 8,837 162,778 Century Bancorp, Inc. Class A 1,596 51,870 CFS Bancorp, Inc. 1,100 13,739 Charles Schwab Corp. (The) 216,779 4,910,044 Charter Financial Corp. 1,777 19,263 Chemical Financial Corp. 28,143 824,308 Chicopee Bancorp, Inc. 3,096 54,335 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Financials -- (Continued) Chubb Corp. (The) 84,032 $ 7,737,667 Cincinnati Financial Corp. 119,926 5,996,300 * CIT Group, Inc. 153,636 7,399,110 Citigroup, Inc. 1,073,660 52,373,135 Citizens Community Bancorp, Inc. 1,650 12,590 # Citizens Holding Co. 772 14,761 #* Citizens, Inc. 39,312 330,221 # City Holding Co. 14,805 673,627 City National Corp. 53,279 3,841,949 CKX Lands, Inc. 743 10,699 Clifton Savings Bancorp, Inc. 17,642 222,818 CME Group, Inc. 113,532 8,425,210 CNA Financial Corp. 132,635 5,383,655 # CNB Financial Corp. 8,185 163,782 CNO Financial Group, Inc. 184,317 2,871,659 CoBiz Financial, Inc. 34,106 370,050 Codorus Valley Bancorp, Inc. 1,679 35,258 # Cohen & Steers, Inc. 15,317 587,560 * Colonial Financial Services, Inc. 1,300 18,200 * Colony Bankcorp, Inc. 1,337 8,182 Columbia Banking System, Inc. 49,400 1,269,086 Comerica, Inc. 137,729 5,963,666 Commerce Bancshares, Inc. 91,091 4,191,097 Commercial National Financial Corp. 847 17,787 # Community Bank System, Inc. 40,058 1,454,506 * Community Bankers Trust Corp. 5,562 20,746 Community Trust Bancorp, Inc. 15,031 640,170 * Community West Bancshares 1,844 10,834 * CommunityOne Bancorp. 1 11 # Consolidated-Tomoka Land Co. 4,572 171,541 * Consumer Portfolio Services, Inc. 11,333 76,158 * Cowen Group, Inc. Class A 103,986 412,824 Crawford & Co. Class A 18,114 150,890 Crawford & Co. Class B 19,531 214,646 * Credit Acceptance Corp. 17,827 2,108,934 # Cullen/Frost Bankers, Inc. 60,537 4,285,414 # CVB Financial Corp. 105,253 1,530,379 * DFC Global Corp. 36,564 442,424 # Diamond Hill Investment Group, Inc. 1,077 118,761 Dime Community Bancshares, Inc. 35,930 587,815 Discover Financial Services 146,679 7,609,707 Donegal Group, Inc. Class A 18,239 289,088 Donegal Group, Inc. Class B 2,147 45,087 #* Doral Financial Corp. 199 3,363 * E*TRADE Financial Corp. 307,458 5,199,115 Eagle Bancorp Montana, Inc. 566 6,209 East West Bancorp, Inc. 139,380 4,695,712 Eastern Insurance Holdings, Inc. 4,882 119,316 * Eastern Virginia Bankshares, Inc. 851 5,132 # Eaton Vance Corp. 50,591 2,115,210 * eHealth, Inc. 14,039 598,342 EMC Insurance Group, Inc. 10,245 348,740 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Financials -- (Continued) Employers Holdings, Inc. 30,449 $ 915,601 #* Encore Capital Group, Inc. 25,428 1,242,158 Endurance Specialty Holdings, Ltd. 43,923 2,428,503 * Enstar Group, Ltd. 13,843 1,881,679 Enterprise Bancorp, Inc. 3,680 71,907 # Enterprise Financial Services Corp. 14,188 255,810 Erie Indemnity Co. Class A 35,688 2,563,112 # ESB Financial Corp. 8,890 118,326 ESSA Bancorp, Inc. 8,794 96,382 Evans Bancorp, Inc. 1,219 24,654 Evercore Partners, Inc. Class A 23,436 1,182,815 Everest Re Group, Ltd. 39,678 6,100,096 * Ezcorp, Inc. Class A 46,143 725,829 * Farmers Capital Bank Corp. 1,933 39,704 FBL Financial Group, Inc. Class A 22,739 1,017,343 Federal Agricultural Mortgage Corp. Class A 773 22,630 Federal Agricultural Mortgage Corp. Class C 7,877 281,130 # Federated Investors, Inc. Class B 82,781 2,245,021 Federated National Holding Co. Class C 4,543 46,566 Fidelity National Financial, Inc. Class A 167,401 4,712,338 Fidelity Southern Corp. 6,346 96,904 Fifth Third Bancorp 621,471 11,826,593 # Financial Engines, Inc. 9,592 535,905 Financial Institutions, Inc. 11,282 267,045 * First Acceptance Corp. 9,100 15,470 # First American Financial Corp. 98,598 2,549,744 #* First BanCorp 21,527 119,475 First Bancorp 13,598 203,698 First Bancorp of Indiana, Inc. 96 1,325 First Bancorp, Inc. 5,920 103,067 * First Bancshares, Inc.(318687100) 200 1,700 First Bancshares, Inc.(318916103) 237 3,519 First Busey Corp. 83,475 431,566 # First Business Financial Services, Inc. 1,081 38,073 * First Cash Financial Services, Inc. 23,119 1,398,468 First Citizens BancShares, Inc. Class A 5,907 1,250,689 First Commonwealth Financial Corp. 91,954 799,080 First Community Bancshares, Inc. 13,413 223,863 First Defiance Financial Corp. 7,499 193,624 #* First Federal Bancshares of Arkansas, Inc. 2,243 20,142 # First Federal of Northern Michigan Bancorp, Inc. 200 948 First Financial Bancorp 54,364 843,729 # First Financial Bankshares, Inc. 21,031 1,293,617 First Financial Corp. 11,314 390,786 First Financial Holdings, Inc. 19,102 1,144,783 # First Financial Northwest, Inc. 12,837 139,153 * First Financial Service Corp. 917 4,548 # First Horizon National Corp. 252,079 2,684,641 First Interstate Bancsystem, Inc. 18,783 471,641 #* First Marblehead Corp. (The) 58,899 56,543 First Merchants Corp. 27,268 512,638 First Midwest Bancorp, Inc. 74,243 1,234,661 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Financials -- (Continued) First Niagara Financial Group, Inc. 345,344 $ 3,809,144 * First Place Financial Corp. 9,209 18 First Republic Bank 98,132 5,011,601 * First South Bancorp, Inc. 4,572 30,907 * First United Corp. 1,938 15,892 First West Virginia Bancorp 266 4,360 Firstbank Corp. 1,646 32,245 FirstMerit Corp. 172,061 3,864,490 #* Flagstar Bancorp, Inc. 39,766 644,607 Flushing Financial Corp. 29,041 583,434 FNB Corp. 144,228 1,804,292 * Forest City Enterprises, Inc. Class A 179,773 3,642,201 * Forest City Enterprises, Inc. Class B 4,615 93,777 * Forestar Group, Inc. 33,000 736,890 Fox Chase Bancorp, Inc. 11,006 190,074 Franklin Resources, Inc. 114,657 6,175,426 Fulton Financial Corp. 194,897 2,379,692 # FXCM, Inc. Class A 12,306 201,695 Gain Capital Holdings, Inc. 16,269 170,336 # GAINSCO, Inc. 513 4,332 GAMCO Investors, Inc. Class A 4,650 332,521 * Genworth Financial, Inc. Class A 483,810 7,029,759 # German American Bancorp, Inc. 9,689 263,347 GFI Group, Inc. 116,588 404,560 # Glacier Bancorp, Inc. 74,614 2,061,585 #* Gleacher & Co., Inc. 650 8,567 * Global Indemnity P.L.C. 13,609 335,190 Goldman Sachs Group, Inc. (The) 152,527 24,535,493 Great Southern Bancorp, Inc. 11,010 309,161 #* Green Dot Corp. Class A 38,954 835,953 Greenhill & Co., Inc. 18,390 943,407 #* Greenlight Capital Re, Ltd. Class A 29,591 911,107 Guaranty Bancorp 1,480 19,980 #* Guaranty Federal Bancshares, Inc. 909 10,240 * Hallmark Financial Services, Inc. 13,444 114,408 # Hampden Bancorp, Inc. 818 14,070 Hancock Holding Co. 82,104 2,691,369 Hanmi Financial Corp. 31,552 551,529 Hanover Insurance Group, Inc. (The) 42,386 2,481,276 Harleysville Savings Financial Corp. 1,916 35,159 #* Harris & Harris Group, Inc. 21,080 65,980 Hartford Financial Services Group, Inc. 361,344 12,177,293 Hawthorn Bancshares, Inc. 1,228 16,959 HCC Insurance Holdings, Inc. 99,450 4,539,892 # HCI Group, Inc. 8,790 386,233 # Heartland Financial USA, Inc. 15,126 400,688 Heritage Commerce Corp. 18,624 145,081 Heritage Financial Corp. 12,619 203,544 Heritage Financial Group, Inc. 4,012 68,926 HF Financial Corp. 1,948 25,967 HFF, Inc. Class A 24,226 594,748 * Hilltop Holdings, Inc. 82,528 1,431,036 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Financials -- (Continued) # Hingham Institution for Savings 458 $ 33,306 * HMN Financial, Inc. 989 8,515 * Home Bancorp, Inc. 4,739 86,108 # Home BancShares, Inc. 48,740 1,651,311 Home Federal Bancorp, Inc. 11,618 181,125 HopFed Bancorp, Inc. 1,211 13,139 Horace Mann Educators Corp. 32,617 903,491 Horizon Bancorp 1,500 32,565 * Howard Hughes Corp. (The) 38,862 4,548,797 # Hudson City Bancorp, Inc. 416,419 3,739,443 Hudson Valley Holding Corp. 12,778 236,265 Huntington Bancshares, Inc. 693,227 6,100,398 Iberiabank Corp. 29,272 1,710,363 * ICG Group, Inc. 36,086 588,563 Independence Holding Co. 8,496 116,565 # Independent Bank Corp.(453836108) 20,894 749,677 * Independent Bank Corp.(453838609) 3,800 36,936 Infinity Property & Casualty Corp. 7,832 537,119 Interactive Brokers Group, Inc. Class A 49,895 1,029,334 #* IntercontinentalExchange, Inc. 30,694 5,915,655 * InterGroup Corp. (The) 200 3,980 International Bancshares Corp. 64,151 1,465,850 #* Intervest Bancshares Corp. Class A 15,492 112,937 #* INTL. FCStone, Inc. 14,382 294,256 Invesco, Ltd. 329,974 11,136,622 * Investment Technology Group, Inc. 26,174 419,307 # Investors Bancorp, Inc. 95,047 2,253,564 * Investors Capital Holdings, Ltd. 1,399 9,849 Investors Title Co. 1,022 79,859 # Janus Capital Group, Inc. 172,452 1,702,101 #* Jefferson Bancshares, Inc. 1,271 8,071 JMP Group, Inc. 15,902 101,932 Jones Lang LaSalle, Inc. 41,433 3,944,422 JPMorgan Chase & Co. 1,350,398 69,599,513 * KCG Holdings, Inc. Class A 7,392 64,606 #* Kearny Financial Corp. 44,060 462,630 Kemper Corp. 55,830 2,066,827 Kennedy-Wilson Holdings, Inc. 75,179 1,506,587 # Kentucky First Federal Bancorp 936 7,572 KeyCorp 752,159 9,424,552 Lake Shore Bancorp, Inc. 125 1,506 Lakeland Bancorp, Inc. 26,016 296,582 Lakeland Financial Corp. 14,401 512,532 Landmark Bancorp, Inc. 1,140 22,925 Lazard, Ltd. Class A 2,570 99,331 # Legg Mason, Inc. 131,430 5,056,112 Leucadia National Corp. 284,343 8,058,281 Life Partners Holdings, Inc. 7,528 15,207 Lincoln National Corp. 211,735 9,614,886 LNB Bancorp, Inc. 6,277 61,075 Loews Corp. 107,886 5,211,973 * Louisiana Bancorp, Inc. 2,100 37,580 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Financials -- (Continued) LPL Financial Holdings, Inc. 77,640 $ 3,163,054 # LSB Financial Corp. 259 7,384 # M&T Bank Corp. 96,891 10,903,144 #* Macatawa Bank Corp. 19,394 95,225 * Magyar Bancorp, Inc. 211 1,546 Maiden Holdings, Ltd. 71,053 778,030 MainSource Financial Group, Inc. 15,803 256,325 * Malvern Bancorp, Inc. 134 1,628 Manning & Napier, Inc. 2,618 43,459 * Markel Corp. 10,422 5,520,221 MarketAxess Holdings, Inc. 24,306 1,585,480 Marlin Business Services Corp. 11,172 308,012 Marsh & McLennan Cos., Inc. 134,592 6,164,314 #* Maui Land & Pineapple Co., Inc. 2,542 10,829 Mayflower Bancorp, Inc. 100 1,944 MB Financial, Inc. 55,073 1,635,668 #* MBIA, Inc. 191,659 2,179,163 * MBT Financial Corp. 3,911 15,018 MCG Capital Corp. 58,376 274,951 McGraw-Hill Cos., Inc. (The) 53,115 3,701,053 Meadowbrook Insurance Group, Inc. 35,445 235,355 Medallion Financial Corp. 20,615 312,936 Mercantile Bank Corp. 6,156 134,447 Merchants Bancshares, Inc. 4,638 139,047 Mercury General Corp. 55,123 2,566,527 * Meridian Interstate Bancorp, Inc. 16,177 384,042 Meta Financial Group, Inc. 1,310 48,758 MetLife, Inc. 333,545 15,780,014 * Metro Bancorp, Inc. 10,574 225,649 MetroCorp Bancshares, Inc. 4,229 60,602 #* MGIC Investment Corp. 152,142 1,238,436 MicroFinancial, Inc. 7,011 60,224 Mid Penn Bancorp, Inc. 497 5,999 MidSouth Bancorp, Inc. 5,731 86,997 MidWestOne Financial Group, Inc. 3,102 81,955 Montpelier Re Holdings, Ltd. 46,585 1,286,212 Moody's Corp. 65,854 4,653,244 Morgan Stanley 525,324 15,092,559 * MSB Financial Corp. 339 2,576 #* MSCI, Inc. 79,204 3,229,147 MutualFirst Financial, Inc. 2,798 47,566 NASDAQ OMX Group, Inc. (The) 136,287 4,828,648 National Interstate Corp. 14,597 381,420 National Penn Bancshares, Inc. 146,125 1,515,316 National Security Group, Inc. 312 2,012 National Western Life Insurance Co. Class A 1,427 296,816 * Naugatuck Valley Financial Corp. 610 4,508 * Navigators Group, Inc. (The) 11,699 657,952 NBT Bancorp, Inc. 41,897 1,021,030 Nelnet, Inc. Class A 34,093 1,453,385 * New Century Bancorp, Inc. 300 1,983 New Hampshire Thrift Bancshares, Inc. 3,306 46,945 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Financials -- (Continued) # New York Community Bancorp, Inc. 328,457 $ 5,324,288 * NewBridge Bancorp 8,957 66,819 * NewStar Financial, Inc. 38,956 678,224 Nicholas Financial, Inc. 4,022 64,553 * North Valley Bancorp 252 4,763 Northeast Bancorp 59 591 Northeast Community Bancorp, Inc. 3,456 26,093 Northern Trust Corp. 178,910 10,094,102 Northfield Bancorp, Inc. 52,897 683,958 Northrim BanCorp, Inc. 3,902 97,940 # Northwest Bancshares, Inc. 91,225 1,276,238 Norwood Financial Corp. 991 28,481 NYSE Euronext 152,034 6,692,537 # Ocean Shore Holding Co. 3,964 56,566 OceanFirst Financial Corp. 14,895 262,003 * Ocwen Financial Corp. 106,268 5,975,450 OFG Bancorp 44,256 655,431 Ohio Valley Banc Corp. 1,110 22,799 # Old Line Bancshares, Inc. 600 8,004 Old National Bancorp 100,820 1,465,923 Old Republic International Corp. 253,456 4,255,526 #* Old Second Bancorp, Inc. 4,388 20,931 * OmniAmerican Bancorp, Inc. 9,890 216,789 OneBeacon Insurance Group, Ltd. Class A 22,836 364,463 Oppenheimer Holdings, Inc. Class A 8,464 167,841 Oritani Financial Corp. 46,784 758,836 Pacific Continental Corp. 14,490 199,672 * Pacific Mercantile Bancorp 7,453 46,358 * Pacific Premier Bancorp, Inc. 2,700 37,557 PacWest Bancorp 36,840 1,401,762 # Park National Corp. 12,868 1,019,403 Park Sterling Corp. 20,322 132,296 PartnerRe, Ltd. 53,064 5,317,543 * Patriot National Bancorp, Inc. 500 605 # Peapack Gladstone Financial Corp. 5,258 96,432 # Penns Woods Bancorp, Inc. 3,034 155,341 # People's United Financial, Inc. 318,382 4,594,252 Peoples Bancorp of North Carolina, Inc. 2,042 26,730 Peoples Bancorp, Inc. 8,479 190,099 Peoples Bancorp/Auburn 470 11,125 #* PHH Corp. 46,987 1,130,037 * Phoenix Cos., Inc. (The) 4,663 179,852 * PICO Holdings, Inc. 21,199 497,753 * Pinnacle Financial Partners, Inc. 34,780 1,078,180 * Piper Jaffray Cos. 12,428 446,041 Platinum Underwriters Holdings, Ltd. 29,146 1,812,590 PNC Financial Services Group, Inc. (The) 189,891 13,962,685 * Popular, Inc. 100,755 2,544,064 * Porter Bancorp, Inc. 3,389 3,796 * Portfolio Recovery Associates, Inc. 40,407 2,402,196 * Preferred Bank 1,261 24,236 Premier Financial Bancorp, Inc. 2,911 34,990 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Financials -- (Continued) Primerica, Inc. 54,838 $ 2,355,292 #* Primus Guaranty, Ltd. 16,378 165,418 Principal Financial Group, Inc. 225,158 10,685,999 PrivateBancorp, Inc. 76,301 1,858,692 ProAssurance Corp. 59,050 2,676,146 Progressive Corp. (The) 140,603 3,651,460 # Prosperity Bancshares, Inc. 60,721 3,792,026 Protective Life Corp. 80,205 3,695,846 Provident Financial Holdings, Inc. 6,264 94,962 Provident Financial Services, Inc. 49,741 932,146 #* Prudential Bancorp, Inc. 2,843 30,733 Prudential Financial, Inc. 158,184 12,874,596 * PSB Holdings, Inc. 1,100 6,864 # Pulaski Financial Corp. 7,180 78,190 # Pzena Investment Management, Inc. Class A 2,370 17,040 QC Holdings, Inc. 8,157 19,169 QCR Holdings, Inc. 1,185 20,572 Radian Group, Inc. 100,718 1,467,461 Raymond James Financial, Inc. 95,386 4,354,371 Regions Financial Corp. 1,121,851 10,803,425 Reinsurance Group of America, Inc. 70,520 5,019,614 RenaissanceRe Holdings, Ltd. 44,729 4,191,555 Renasant Corp. 25,095 719,725 Republic Bancorp, Inc. Class A 14,893 342,837 * Republic First Bancorp, Inc. 14,828 46,708 Resource America, Inc. Class A 13,106 113,105 * Riverview Bancorp, Inc. 9,533 25,358 # RLI Corp. 19,993 1,888,939 Rockville Financial, Inc. 25,474 334,983 #* Roma Financial Corp. 16,685 324,690 * Royal Bancshares of Pennsylvania, Inc. Class A 2,453 3,753 S&T Bancorp, Inc. 28,107 689,184 * Safeguard Scientifics, Inc. 18,116 316,124 Safety Insurance Group, Inc. 14,444 789,942 Salisbury Bancorp, Inc. 543 14,240 Sandy Spring Bancorp, Inc. 21,032 515,074 # SB Financial Group, Inc. 1,124 9,161 * Seacoast Banking Corp. of Florida 23,076 52,613 #* Security National Financial Corp. Class A 857 5,031 SEI Investments Co. 124,430 4,129,832 Selective Insurance Group, Inc. 53,825 1,413,983 * Shore Bancshares, Inc. 3,114 28,493 SI Financial Group, Inc. 5,983 67,787 * Siebert Financial Corp. 3,562 5,842 Sierra Bancorp 9,727 184,132 * Signature Bank 43,030 4,381,315 Simmons First National Corp. Class A 14,165 463,762 Simplicity Bancorp, Inc. 6,143 96,322 SLM Corp. 320,736 8,137,072 * South Street Financial Corp. 300 1,875 * Southcoast Financial Corp. 2,666 15,330 (d) Southern Community Financial 5,725 1,260 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Financials -- (Continued) * Southern First Bancshares, Inc. 1,052 $ 14,139 Southern Missouri Bancorp, Inc. 557 16,849 # Southern National Bancorp of Virginia, Inc. 302 2,945 # Southside Bancshares, Inc. 16,512 450,778 * Southwest Bancorp, Inc. 15,250 244,152 Southwest Georgia Financial Corp. 863 8,199 #* St Joe Co. (The) 66,355 1,238,848 StanCorp Financial Group, Inc. 44,830 2,640,487 State Auto Financial Corp. 31,122 591,318 State Street Corp. 145,791 10,215,575 StellarOne Corp. 17,696 411,963 * Sterling Bancorp(859158107) 25,653 378,382 Sterling Bancorp(85917A100) 29,856 349,912 # Stewart Information Services Corp. 20,612 645,568 #* Stifel Financial Corp. 66,285 2,714,371 * Stratus Properties, Inc. 2,912 44,787 * Suffolk Bancorp 10,504 205,353 Summit State Bank 1,967 19,473 * Sun Bancorp, Inc. 26,691 88,080 SunTrust Banks, Inc. 310,288 10,438,088 Susquehanna Bancshares, Inc. 188,798 2,224,984 * Sussex Bancorp 448 3,067 * SVB Financial Group 44,268 4,239,989 #* SWS Group, Inc. 12,800 72,064 SY Bancorp, Inc. 11,300 339,113 Symetra Financial Corp. 102,719 1,923,927 Synovus Financial Corp. 1,034,775 3,363,019 T Rowe Price Group, Inc. 54,049 4,183,933 * Taylor Capital Group, Inc. 23,708 545,284 # TCF Financial Corp. 167,641 2,544,790 TD Ameritrade Holding Corp. 165,550 4,512,893 Teche Holding Co. 824 41,447 * Tejon Ranch Co. 15,148 560,779 Territorial Bancorp, Inc. 9,185 200,325 # Teton Advisors, Inc. Class A 29 1,631 * Texas Capital Bancshares, Inc. 39,898 2,076,691 TF Financial Corp. 1,494 41,459 * TFS Financial Corp. 205,018 2,488,919 # Thomas Properties Group, Inc. 39,595 269,246 Timberland Bancorp, Inc. 1,600 14,192 Tompkins Financial Corp. 11,822 583,061 Torchmark Corp. 68,176 4,967,303 Tower Financial Corp. 578 13,716 # Tower Group International, Ltd. 41,762 151,596 # TowneBank 25,090 365,310 Travelers Cos., Inc. (The) 129,906 11,210,888 Tree.com, Inc. 8,606 253,963 Trico Bancshares 13,744 347,586 # TrustCo Bank Corp. 90,261 606,554 # Trustmark Corp. 67,729 1,839,520 U.S. Bancorp 623,331 23,287,646 # UMB Financial Corp. 42,831 2,523,603 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ --------- -------------- Financials -- (Continued) Umpqua Holdings Corp. 107,233 $ 1,755,404 Unico American Corp. 100 1,254 Union Bankshares Inc/Morrisville 863 18,701 Union First Market Bankshares Corp. 19,891 479,771 United Bancshares, Inc. 1,036 13,748 # United Bankshares, Inc. 43,758 1,294,362 United Community Bancorp 99 1,079 * United Community Banks, Inc. 44,869 699,508 #* United Community Financial Corp. 6,897 27,588 United Financial Bancorp, Inc. 15,360 240,845 United Fire Group, Inc. 21,736 689,031 * United Security Bancshares 4,493 23,097 Unity Bancorp, Inc. 3,873 28,699 Universal Insurance Holdings, Inc. 38,406 301,103 Univest Corp. of Pennsylvania 14,128 282,136 Unum Group 205,939 6,536,504 Validus Holdings, Ltd. 99,741 3,937,775 # Valley National Bancorp 174,413 1,700,527 * Vantagesouth Bancshares, Inc. 3,241 15,848 ViewPoint Financial Group, Inc. 38,969 849,914 * Virginia Commerce Bancorp, Inc. 24,016 384,976 * Virtus Investment Partners, Inc. 2,925 595,296 VSB Bancorp, Inc. 169 1,778 Waddell & Reed Financial, Inc. Class A 52,307 3,229,957 #* Walker & Dunlop, Inc. 9,634 125,049 Washington Banking Co. 12,496 212,557 Washington Federal, Inc. 102,050 2,324,699 Washington Trust Bancorp, Inc. 15,623 513,840 #* Waterstone Financial, Inc. 11,972 127,382 # Wayne Savings Bancshares, Inc. 955 9,884 Webster Financial Corp. 89,414 2,493,756 Wells Fargo & Co. 1,760,712 75,164,795 WesBanco, Inc. 25,679 754,963 West BanCorp., Inc. 12,598 174,104 # Westamerica BanCorp. 23,834 1,226,974 * Western Alliance Bancorp 79,374 1,678,760 Westfield Financial, Inc. 20,512 147,892 Westwood Holdings Group, Inc. 4,374 233,265 # Willis Group Holdings P.L.C. 53,683 2,419,493 Wilshire Bancorp, Inc. 70,002 592,917 # Wintrust Financial Corp. 39,318 1,710,726 * WisdomTree Investments, Inc. 9,961 138,458 #* World Acceptance Corp. 9,067 944,056 WR Berkley Corp. 93,526 4,106,727 WSFS Financial Corp. 2,050 143,521 WVS Financial Corp. 803 8,881 XL Group P.L.C. 224,961 6,877,058 * Yadkin Financial Corp. 2,192 35,993 Zions BanCorp. 183,285 5,199,795 * ZipRealty, Inc. 11,687 64,279 -------------- Total Financials 1,305,824,824 -------------- U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Health Care -- (10.2%) # Abaxis, Inc. 7,459 $ 266,510 Abbott Laboratories 376,087 13,745,980 AbbVie, Inc. 362,550 17,565,547 #* ABIOMED, Inc. 3,762 90,213 #* Acadia Healthcare Co., Inc. 1,667 72,281 #* Accuray, Inc. 47,447 320,267 * Acorda Therapeutics, Inc. 31,281 957,511 * Actavis P.L.C. 100,849 15,589,238 #* Adcare Health Systems, Inc. 2,984 11,787 * Addus HomeCare Corp. 9,732 251,572 #* Aegerion Pharmaceuticals, Inc. 3,592 297,489 Aetna, Inc. 134,335 8,422,805 #* Affymax, Inc. 23,828 26,926 * Affymetrix, Inc. 72,823 514,859 Agilent Technologies, Inc. 73,407 3,726,139 # Air Methods Corp. 30,781 1,345,745 #* Akorn, Inc. 21,451 438,458 #* Albany Molecular Research, Inc. 23,579 308,885 * Alere, Inc. 81,478 2,748,253 * Alexion Pharmaceuticals, Inc. 39,749 4,887,140 #* Align Technology, Inc. 53,254 3,038,673 * Alkermes P.L.C. 107,770 3,792,426 Allergan, Inc. 64,327 5,828,669 * Alliance HealthCare Services, Inc. 5,221 131,621 * Allied Healthcare Products 1,583 3,688 * Allscripts Healthcare Solutions, Inc. 178,956 2,474,961 Almost Family, Inc. 7,302 140,417 #* Alnylam Pharmaceuticals, Inc. 27,216 1,567,914 #* Alphatec Holdings, Inc. 40,201 73,166 * AMAG Pharmaceuticals, Inc. 14,999 404,673 #* Amedisys, Inc. 31,587 514,236 * American Shared Hospital Services 797 1,941 AmerisourceBergen Corp. 74,538 4,869,568 Amgen, Inc. 197,640 22,926,240 * AMN Healthcare Services, Inc. 34,573 428,705 * Amsurg Corp. 30,957 1,327,746 # Analogic Corp. 11,115 1,025,136 * AngioDynamics, Inc. 21,505 338,059 * Anika Therapeutics, Inc. 12,532 374,331 #* Ariad Pharmaceuticals, Inc. 65,500 144,100 #* Arqule, Inc. 11,499 25,873 * Arrhythmia Research Technology, Inc. 1,150 3,755 * ArthroCare Corp. 20,131 753,705 #* athenahealth, Inc. 12,686 1,693,708 * AtriCure, Inc. 2,500 34,625 Atrion Corp. 1,243 332,105 #* Authentidate Holding Corp. 326 411 #* Auxilium Pharmaceuticals, Inc. 33,410 574,986 #* AVEO Pharmaceuticals, Inc. 1,372 2,840 #* Baxano Surgical, Inc. 17,578 21,269 Baxter International, Inc. 126,793 8,351,855 Becton Dickinson and Co. 45,070 4,738,209 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Health Care -- (Continued) * Bio-Rad Laboratories, Inc. Class A 22,357 $ 2,761,537 #* Bio-Rad Laboratories, Inc. Class B 1,562 190,236 #* Bio-Reference Labs, Inc. 19,000 615,790 #* Bioanalytical Systems, Inc. 400 736 * Biogen Idec, Inc. 52,870 12,910,325 * BioMarin Pharmaceutical, Inc. 69,676 4,377,046 * BioScrip, Inc. 62,273 436,534 #* Biospecifics Technologies Corp. 900 16,830 Biota Pharmaceuticals, Inc. 1,866 7,147 * BioTelemetry, Inc. 20,541 187,745 * Boston Scientific Corp. 960,011 11,222,529 #* Bovie Medical Corp. 7,222 18,488 Bristol-Myers Squibb Co. 391,740 20,574,185 #* Brookdale Senior Living, Inc. 94,587 2,561,416 * Bruker Corp. 133,222 2,724,390 * Cambrex Corp. 29,002 487,814 Cantel Medical Corp. 32,564 1,142,996 * Capital Senior Living Corp. 21,903 485,809 #* Cardica, Inc. 1,700 2,040 Cardinal Health, Inc. 91,267 5,353,722 * CareFusion Corp. 163,668 6,345,408 #* CAS Medical Systems, Inc. 2,100 2,961 * Celgene Corp. 96,343 14,305,972 #* Celldex Therapeutics, Inc. 36,352 832,824 #* Celsion Corp. 667 2,680 * Centene Corp. 37,029 2,079,549 #* Cepheid, Inc. 23,948 975,163 * Cerner Corp. 81,908 4,589,305 * Charles River Laboratories International, Inc. 38,969 1,917,664 # Chemed Corp. 13,600 922,352 * Chindex International, Inc. 8,632 145,277 Cigna Corp. 155,296 11,954,686 #* Codexis, Inc. 5,607 9,756 #* Columbia Laboratories, Inc. 386 2,779 Community Health Systems, Inc. 90,521 3,949,431 Computer Programs & Systems, Inc. 5,174 295,125 CONMED Corp. 22,248 806,935 Cooper Cos., Inc. (The) 37,384 4,830,387 * Cornerstone Therapeutics, Inc. 1,213 11,487 * Corvel Corp. 14,276 593,882 #* Covance, Inc. 44,348 3,958,502 Covidien P.L.C. 94,559 6,062,177 CR Bard, Inc. 20,780 2,830,652 * Cross Country Healthcare, Inc. 21,523 127,847 CryoLife, Inc. 23,797 213,935 * Cubist Pharmaceuticals, Inc. 52,493 3,254,566 #* Cumberland Pharmaceuticals, Inc. 14,360 70,220 * Cutera, Inc. 12,003 120,630 * Cyberonics, Inc. 13,074 755,154 * Cynosure, Inc. Class A 18,444 398,575 #* Cytokinetics, Inc. 2,470 14,845 * DaVita HealthCare Partners, Inc. 73,884 4,153,020 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Health Care -- (Continued) Daxor Corp. 2,013 $ 15,037 DENTSPLY International, Inc. 58,941 2,776,121 #* Depomed, Inc. 18,914 136,181 * Digirad Corp. 9,575 31,885 #* Durect Corp. 18,393 27,590 #* Dyax Corp. 24,678 202,853 * Edwards Lifesciences Corp. 31,200 2,033,928 Eli Lilly & Co. 220,498 10,985,210 * Emergent Biosolutions, Inc. 31,433 613,886 * Emeritus Corp. 26,182 501,647 * Endo Health Solutions, Inc. 89,837 3,928,572 #* Endocyte, Inc. 13,573 141,566 Ensign Group, Inc. (The) 16,956 721,986 #* EnteroMedics, Inc. 100 124 #* Enzo Biochem, Inc. 23,675 58,951 # Enzon Pharmaceuticals, Inc. 38,733 57,325 #* Exact Sciences Corp. 1,550 17,081 * Exactech, Inc. 10,803 245,228 #* ExamWorks Group, Inc. 25,238 652,402 * Express Scripts Holding Co. 274,906 17,187,123 * Five Star Quality Care, Inc. 43,877 222,456 * Forest Laboratories, Inc. 197,780 9,301,593 #* Furiex Pharmaceuticals, Inc. 6,234 243,749 * Gentiva Health Services, Inc. 27,565 315,619 * Geron Corp. 21,919 86,580 * Gilead Sciences, Inc. 358,324 25,437,421 * Greatbatch, Inc. 19,695 750,773 #* GTx, Inc. 8,205 14,031 * Haemonetics Corp. 39,016 1,582,489 * Hanger, Inc. 33,435 1,227,065 * Harvard Bioscience, Inc. 26,114 153,811 HCA Holdings, Inc. 62,652 2,953,415 * Health Management Associates, Inc. Class A 216,226 2,772,017 * Health Net, Inc. 79,794 2,425,738 HealthSouth Corp. 49,567 1,740,297 * HealthStream, Inc. 10,500 375,060 #* Healthways, Inc. 37,705 363,099 * Henry Schein, Inc. 36,071 4,055,463 Hi-Tech Pharmacal Co., Inc. 11,869 511,435 Hill-Rom Holdings, Inc. 45,212 1,866,803 #* HMS Holdings Corp. 55,059 1,163,397 #* Hologic, Inc. 171,180 3,832,720 #* Horizon Pharma, Inc. 25,543 107,025 #* Hospira, Inc. 119,818 4,855,025 Humana, Inc. 116,544 10,739,530 * ICU Medical, Inc. 14,367 887,881 #* Idera Pharmaceuticals, Inc. 12,837 23,620 #* IDEXX Laboratories, Inc. 13,105 1,413,505 #* Illumina, Inc. 37,455 3,502,417 #* Immunomedics, Inc. 20,669 78,336 * Impax Laboratories, Inc. 68,763 1,393,138 * Incyte Corp., Ltd. 102,337 3,991,143 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Health Care -- (Continued) #* Infinity Pharmaceuticals, Inc. 11,703 $ 158,576 #* Integra LifeSciences Holdings Corp. 21,889 1,002,078 * Intuitive Surgical, Inc. 8,330 3,094,595 Invacare Corp. 29,487 633,086 #* IPC The Hospitalist Co., Inc. 13,189 722,625 #* Iridex Corp. 2,696 16,095 #* Isis Pharmaceuticals, Inc. 49,063 1,632,326 * Jazz Pharmaceuticals P.L.C. 46,274 4,198,903 Johnson & Johnson 710,094 65,761,805 Kewaunee Scientific Corp. 1,352 23,471 # Kindred Healthcare, Inc. 52,462 728,173 #* Laboratory Corp. of America Holdings 38,461 3,880,715 Landauer, Inc. 3,782 183,049 * Lannett Co., Inc. 21,767 513,919 #* LCA-Vision, Inc. 8,304 27,320 LeMaitre Vascular, Inc. 8,529 68,573 #* LHC Group, Inc. 16,956 349,294 * Life Technologies Corp. 108,312 8,156,977 * LifePoint Hospitals, Inc. 42,949 2,217,886 #* Ligand Pharmaceuticals, Inc. Class B 1,514 78,365 * Luminex Corp. 28,372 553,254 * Magellan Health Services, Inc. 26,577 1,560,070 * Mallinckrodt P.L.C. 9,565 401,826 # Masimo Corp. 41,571 1,065,049 * Mast Therapeutics, Inc. 9,644 4,726 (d)* Maxygen, Inc. 18,827 565 McKesson Corp. 53,395 8,347,774 * MedAssets, Inc. 55,488 1,277,889 (d)* MedCath Corp. 11,283 15,458 * Medical Action Industries, Inc. 18,216 110,389 * Medicines Co. (The) 44,085 1,495,363 #* MediciNova, Inc. 1,657 4,093 * Medidata Solutions, Inc. 9,417 1,038,789 #* Medivation, Inc. 41,241 2,468,686 #* MEDNAX, Inc. 48,955 5,337,074 Medtronic, Inc. 214,026 12,285,092 Merck & Co., Inc. 801,185 36,125,432 # Meridian Bioscience, Inc. 12,920 319,382 * Merit Medical Systems, Inc. 37,307 596,539 * Mettler-Toledo International, Inc. 8,800 2,177,648 * Misonix, Inc. 2,220 9,280 * Molina Healthcare, Inc. 45,300 1,433,292 #* Momenta Pharmaceuticals, Inc. 46,247 757,988 * MWI Veterinary Supply, Inc. 7,765 1,231,840 * Mylan, Inc. 181,213 6,862,536 #* Myriad Genetics, Inc. 60,906 1,484,888 * Nanosphere, Inc. 11,930 23,264 # National Healthcare Corp. 11,008 532,567 * National Research Corp. Class A 11,661 204,534 # National Research Corp. Class B 1,943 54,385 * Natus Medical, Inc. 30,208 596,004 #* Neogen Corp. 13,047 603,032 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Health Care -- (Continued) * NPS Pharmaceuticals, Inc. 3,990 $ 114,832 * NuVasive, Inc. 44,228 1,405,566 Omnicare, Inc. 95,436 5,263,295 * Omnicell, Inc. 33,417 770,930 #* OncoGenex Pharmaceutical, Inc. 1,100 7,733 #* Opko Health, Inc. 106,473 1,066,859 #* OraSure Technologies, Inc. 17,252 112,483 * Orthofix International NV 12,389 253,851 #* Osiris Therapeutics, Inc. 7,871 104,763 # Owens & Minor, Inc. 62,089 2,323,370 #* Pacific Biosciences of California, Inc. 27,980 114,998 # Pain Therapeutics, Inc. 19,386 70,953 #* PAREXEL International Corp. 42,347 1,935,681 Patterson Cos., Inc. 74,320 3,159,343 * PDI, Inc. 10,224 48,768 # PDL BioPharma, Inc. 98,354 795,684 PerkinElmer, Inc. 112,422 4,276,533 #* Pernix Therapeutics Holdings 3,056 6,387 Perrigo Co. 28,211 3,890,015 Pfizer, Inc. 2,220,281 68,118,221 * PharMerica Corp. 25,165 371,435 #* PhotoMedex, Inc. 5,223 66,019 #* Pozen, Inc. 24,054 151,179 #* Progenics Pharmaceuticals, Inc. 32,363 117,801 * ProPhase Labs, Inc. 3,827 6,353 * Providence Service Corp. (The) 10,710 320,122 #* pSivida Corp. 6,147 15,060 Psychemedics Corp. 400 5,596 # Quality Systems, Inc. 48,767 1,112,863 # Quest Diagnostics, Inc. 114,806 6,878,027 # Questcor Pharmaceuticals, Inc. 23,945 1,469,505 #* Quidel Corp. 26,958 665,863 #* RadNet, Inc. 17,856 43,747 * Regeneron Pharmaceuticals, Inc. 26,202 7,535,695 #* Repligen Corp. 24,640 269,562 # ResMed, Inc. 42,135 2,180,065 * Retractable Technologies, Inc. 2,700 6,723 #* Rigel Pharmaceuticals, Inc. 41,025 126,767 * Rochester Medical Corp. 8,952 178,861 * RTI Biologics, Inc. 47,690 133,055 * Sagent Pharmaceuticals, Inc. 469 10,173 * Salix Pharmaceuticals, Ltd. 36,039 2,585,798 #* Sangamo Biosciences, Inc. 9,721 91,086 #* Santarus, Inc. 32,899 767,534 * Sciclone Pharmaceuticals, Inc. 54,788 259,147 #* Seattle Genetics, Inc. 48,892 1,888,698 Select Medical Holdings Corp. 113,123 959,283 * Sirona Dental Systems, Inc. 41,004 2,962,539 * Skilled Healthcare Group, Inc. Class A 15,845 67,500 #* Solta Medical, Inc. 49,675 91,899 Span-America Medical Systems, Inc. 1,628 30,688 * Special Diversified Opportunities, Inc. 6,364 7,064 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ------------ Health Care -- (Continued) * Spectranetics Corp. 11,818 $ 246,878 # Spectrum Pharmaceuticals, Inc. 39,588 340,061 St Jude Medical, Inc. 81,599 4,682,967 * Staar Surgical Co. 7,839 103,788 #* Stereotaxis, Inc. 1,899 8,299 STERIS Corp. 43,535 1,967,347 Stryker Corp. 60,685 4,482,194 #* Sucampo Pharmaceuticals, Inc. Class A 7,466 46,289 * SunLink Health Systems, Inc. 2,605 2,097 * SurModics, Inc. 12,999 306,516 * Symmetry Medical, Inc. 31,939 258,706 #* Synageva BioPharma Corp. 385 19,558 * Targacept, Inc. 1,592 7,562 * Taro Pharmaceutical Industries, Ltd. 1,782 139,620 * Team Health Holdings, Inc. 33,703 1,464,058 Techne Corp. 29,261 2,557,119 # Teleflex, Inc. 40,334 3,717,988 * Tenet Healthcare Corp. 81,518 3,846,834 #* Theravance, Inc. 43,501 1,593,877 Thermo Fisher Scientific, Inc. 121,668 11,896,697 * Thoratec Corp. 45,094 1,947,610 * Tornier NV 14,503 311,960 #* Transcept Pharmaceuticals, Inc. 9,901 36,436 * Triple-S Management Corp. Class B 20,296 361,472 #* United Therapeutics Corp. 38,507 3,408,640 UnitedHealth Group, Inc. 344,956 23,546,697 Universal American Corp. 80,319 595,967 Universal Health Services, Inc. Class B 67,085 5,404,368 #* Uroplasty, Inc. 2,100 6,363 US Physical Therapy, Inc. 9,452 301,708 # Utah Medical Products, Inc. 2,567 142,879 * Varian Medical Systems, Inc. 28,772 2,088,272 * Vascular Solutions, Inc. 12,692 249,017 * VCA Antech, Inc. 87,633 2,493,159 * Vertex Pharmaceuticals, Inc. 50,604 3,610,089 #* Vical, Inc. 14,130 17,663 * ViroPharma, Inc. 59,423 2,306,801 #* Volcano Corp. 4,371 83,792 * Waters Corp. 24,784 2,501,201 * WellCare Health Plans, Inc. 43,141 2,876,642 WellPoint, Inc. 106,927 9,067,410 West Pharmaceutical Services, Inc. 55,738 2,694,932 #* Wright Medical Group, Inc. 47,031 1,277,832 #* XenoPort, Inc. 22,266 116,451 #* Zalicus, Inc. 3,117 13,652 Zimmer Holdings, Inc. 100,495 8,790,298 Zoetis, Inc. 548,666 17,370,766 ------------ Total Health Care 845,812,667 ------------ Industrials -- (12.0%) 3M Co. 157,069 19,767,134 AAON, Inc. 26,106 705,123 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Industrials -- (Continued) AAR Corp. 35,816 $1,048,692 ABM Industries, Inc. 54,733 1,505,705 # Acacia Research Corp. 41,555 627,065 #* ACCO Brands Corp. 82,552 482,929 * Accuride Corp. 14,909 67,091 Aceto Corp. 27,568 439,710 Acme United Corp. 1,000 14,640 Acorn Energy, Inc. 10,523 39,566 * Active Power, Inc. 360 1,069 # Actuant Corp. Class A 68,866 2,586,607 # Acuity Brands, Inc. 33,956 3,412,918 * Adept Technology, Inc. 6,777 56,385 # ADT Corp. (The) 155,331 6,736,705 #* Advisory Board Co. (The) 14,604 1,001,834 * AECOM Technology Corp. 101,169 3,215,151 * Aegion Corp. 38,389 786,975 * AeroCentury Corp. 691 13,820 #* Aerovironment, Inc. 22,152 600,541 AGCO Corp. 71,577 4,178,665 * Air Transport Services Group, Inc. 57,918 419,326 Aircastle, Ltd. 39,578 746,837 Alamo Group, Inc. 11,449 540,278 Alaska Air Group, Inc. 68,531 4,842,400 Albany International Corp. Class A 28,257 1,040,140 Allegiant Travel Co. 14,991 1,563,112 Alliant Techsystems, Inc. 32,043 3,488,521 (d) Allied Defense Group, Inc. (The) 3,200 16,800 Allied Motion Technologies, Inc. 5,104 48,743 # Altra Holdings, Inc. 22,993 698,297 AMERCO 17,789 3,592,133 #* Ameresco, Inc. Class A 19,615 205,173 # American Railcar Industries, Inc. 19,392 794,296 American Science & Engineering, Inc. 5,659 372,249 #* American Superconductor Corp. 8,960 19,533 * American Woodmark Corp. 11,864 402,427 AMETEK, Inc. 71,134 3,402,339 Ampco-Pittsburgh Corp. 7,591 139,750 * AMREP Corp. 3,360 27,048 # AO Smith Corp. 63,322 3,270,581 Apogee Enterprises, Inc. 26,535 830,015 Applied Industrial Technologies, Inc. 33,512 1,585,453 * ARC Document Solutions, Inc. 37,385 233,282 Argan, Inc. 11,189 248,955 Arkansas Best Corp. 24,176 661,697 * Armstrong World Industries, Inc. 42,038 2,246,090 * Arotech Corp. 901 1,487 #* Ascent Solar Technologies, Inc. 14,292 13,434 Astec Industries, Inc. 21,917 741,014 * Astronics Corp. 8,450 414,557 #* Astronics Corp. Class B 1,690 81,610 * Atlas Air Worldwide Holdings, Inc. 24,912 922,491 * Avalon Holdings Corp. Class A 500 2,590 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Industrials -- (Continued) * Avis Budget Group, Inc. 107,325 $ 3,362,492 AZZ, Inc. 18,974 851,933 * B/E Aerospace, Inc. 54,163 4,395,869 # Babcock & Wilcox Co. (The) 88,149 2,839,279 Baltic Trading, Ltd. 8,669 38,837 Barnes Group, Inc. 53,195 1,890,550 Barrett Business Services, Inc. 7,132 593,882 * Beacon Roofing Supply, Inc. 36,860 1,279,411 Belden, Inc. 34,567 2,324,976 * Blount International, Inc. 29,488 359,164 * BlueLinx Holdings, Inc. 25,832 48,048 Boeing Co. (The) 168,655 22,009,477 Brady Corp. Class A 43,578 1,272,042 * Breeze-Eastern Corp. 4,762 44,406 # Briggs & Stratton Corp. 43,930 805,676 Brink's Co. (The) 36,994 1,161,612 * Broadwind Energy, Inc. 488 3,562 #* Builders FirstSource, Inc. 59,256 439,087 * CAI International, Inc. 16,201 354,640 Carlisle Cos., Inc. 58,159 4,226,996 * Casella Waste Systems, Inc. Class A 19,206 113,507 Caterpillar, Inc. 141,148 11,766,097 #* CBIZ, Inc. 49,777 406,180 CDI Corp. 16,021 257,137 Ceco Environmental Corp. 14,425 254,601 Celadon Group, Inc. 20,811 385,836 # CH Robinson Worldwide, Inc. 48,744 2,911,967 #* Chart Industries, Inc. 22,703 2,439,891 Chicago Bridge & Iron Co. NV 47,797 3,541,280 Chicago Rivet & Machine Co. 474 15,737 # Cintas Corp. 87,943 4,728,695 CIRCOR International, Inc. 16,096 1,187,402 CLARCOR, Inc. 32,969 1,928,027 #* Clean Harbors, Inc. 37,698 2,327,852 * CNH Industrial NV 172,891 2,028,011 Coleman Cable, Inc. 8,443 207,698 * Colfax Corp. 81,134 4,540,259 * Columbus McKinnon Corp. 18,180 472,862 Comfort Systems USA, Inc. 36,120 672,916 #* Command Security Corp. 4,000 6,120 #* Commercial Vehicle Group, Inc. 14,342 112,872 Compx International, Inc. 1,315 18,660 Con-way, Inc. 49,925 2,056,910 * Consolidated Graphics, Inc. 9,127 584,949 Copa Holdings SA Class A 8,409 1,257,482 * Copart, Inc. 76,454 2,464,112 Corporate Executive Board Co. (The) 13,793 1,005,510 * Costa, Inc. 9,465 190,436 Courier Corp. 8,848 150,328 Covanta Holding Corp. 129,394 2,221,695 * Covenant Transportation Group, Inc. Class A 7,022 45,854 #* CPI Aerostructures, Inc. 4,216 52,278 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Industrials -- (Continued) * CRA International, Inc. 6,991 $ 133,179 Crane Co. 44,644 2,834,894 CSX Corp. 347,122 9,045,999 Cubic Corp. 26,200 1,375,500 Cummins, Inc. 41,779 5,306,769 Curtiss-Wright Corp. 46,769 2,328,161 Danaher Corp. 171,472 12,361,416 Deere & Co. 78,336 6,411,018 Delta Air Lines, Inc. 225,059 5,937,056 # Deluxe Corp. 39,179 1,844,939 * DigitalGlobe, Inc. 74,920 2,383,954 * Dolan Co. (The) 21,986 56,504 Donaldson Co., Inc. 37,695 1,493,099 # Douglas Dynamics, Inc. 20,968 318,085 Dover Corp. 107,673 9,883,305 * Ducommun, Inc. 9,171 227,991 # Dun & Bradstreet Corp. (The) 30,908 3,362,481 * DXP Enterprises, Inc. 10,252 942,159 * Dycom Industries, Inc. 33,593 996,032 Dynamic Materials Corp. 11,637 257,178 #* Eagle Bulk Shipping, Inc. 5,847 32,509 Eastern Co. (The) 2,746 45,446 Eaton Corp. P.L.C. 159,991 11,288,965 #* Echo Global Logistics, Inc. 18,120 333,589 Ecology and Environment, Inc. Class A 1,746 19,206 EMCOR Group, Inc. 65,833 2,439,771 Emerson Electric Co. 175,386 11,745,600 Encore Wire Corp. 20,616 1,021,110 #* Energy Recovery, Inc. 34,173 199,570 #* EnerNOC, Inc. 26,936 447,946 EnerSys, Inc. 48,288 3,203,909 * Engility Holdings, Inc. 12,285 380,466 Ennis, Inc. 20,180 358,195 #* EnPro Industries, Inc. 19,984 1,192,445 EnviroStar, Inc. 100 300 Equifax, Inc. 52,195 3,375,451 ESCO Technologies, Inc. 23,388 843,839 # Espey Manufacturing & Electronics Corp. 1,489 48,393 * Esterline Technologies Corp. 30,614 2,454,018 Exelis, Inc. 174,241 2,873,234 Expeditors International of Washington, Inc. 56,729 2,569,256 # Exponent, Inc. 10,429 788,537 # Fastenal Co. 64,873 3,230,675 * Federal Signal Corp. 50,581 692,454 FedEx Corp. 101,143 13,249,733 * Flow International Corp. 38,810 154,852 Flowserve Corp. 44,865 3,116,772 Fluor Corp. 54,753 4,063,768 Fortune Brands Home & Security, Inc. 125,096 5,389,136 Forward Air Corp. 23,147 936,991 * Franklin Covey Co. 14,953 281,116 Franklin Electric Co., Inc. 37,133 1,405,484 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Industrials -- (Continued) FreightCar America, Inc. 10,357 $ 230,340 * FTI Consulting, Inc. 37,899 1,537,941 * Fuel Tech, Inc. 16,148 73,150 * Furmanite Corp. 31,055 349,369 G&K Services, Inc. Class A 17,855 1,114,152 GATX Corp. 42,839 2,208,350 #* Genco Shipping & Trading, Ltd. 32,587 87,007 * Gencor Industries, Inc. 2,365 21,592 #* GenCorp, Inc. 39,369 661,399 Generac Holdings, Inc. 43,982 2,170,512 # General Cable Corp. 45,033 1,482,937 General Dynamics Corp. 91,455 7,922,747 General Electric Co. 3,541,296 92,569,477 * Genesee & Wyoming, Inc. Class A 50,817 5,073,569 * Gibraltar Industries, Inc. 26,691 427,323 Global Power Equipment Group, Inc. 10,773 219,338 #* Goldfield Corp. (The) 11,623 22,084 # Gorman-Rupp Co. (The) 14,325 583,601 * GP Strategies Corp. 14,673 411,137 Graco, Inc. 25,734 1,988,209 #* GrafTech International, Ltd. 121,512 1,081,457 Graham Corp. 8,088 297,719 Granite Construction, Inc. 37,926 1,226,906 Great Lakes Dredge & Dock Corp. 56,726 460,615 #* Greenbrier Cos., Inc. 26,703 708,698 Griffon Corp. 54,692 685,291 * H&E Equipment Services, Inc. 28,837 721,790 Hardinge, Inc. 9,375 138,656 Harsco Corp. 73,459 2,048,037 #* Hawaiian Holdings, Inc. 49,733 410,297 # Healthcare Services Group, Inc. 2,110 57,793 Heartland Express, Inc. 66,637 956,907 # HEICO Corp. 20,870 1,118,215 HEICO Corp. Class A 29,554 1,151,414 Heidrick & Struggles International, Inc. 13,769 255,002 #* Heritage-Crystal Clean, Inc. 4,417 78,048 Herman Miller, Inc. 38,082 1,155,408 * Hertz Global Holdings, Inc. 291,459 6,691,899 * Hexcel Corp. 79,026 3,343,590 * Hill International, Inc. 26,258 90,328 HNI Corp. 35,223 1,368,414 Honeywell International, Inc. 184,868 16,033,602 # Houston Wire & Cable Co. 17,436 241,837 * Hub Group, Inc. Class A 33,279 1,222,338 Hubbell, Inc. Class A 4,100 396,880 Hubbell, Inc. Class B 27,464 2,953,479 * Hudson Global, Inc. 23,996 77,987 Huntington Ingalls Industries, Inc. 39,545 2,829,445 Hurco Cos., Inc. 4,582 112,213 * Huron Consulting Group, Inc. 21,075 1,234,363 * Huttig Building Products, Inc. 2,588 6,470 Hyster-Yale Materials Handling, Inc. 11,128 872,880 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Industrials -- (Continued) * ICF International, Inc. 15,651 $ 541,838 IDEX Corp. 65,124 4,503,325 * IHS, Inc. Class A 20,296 2,213,279 * II-VI, Inc. 62,581 1,067,632 Illinois Tool Works, Inc. 94,072 7,411,933 Ingersoll-Rand P.L.C. 174,920 11,812,348 #* InnerWorkings, Inc. 35,203 336,893 #* Innotrac Corp. 1,251 8,394 # Innovative Solutions & Support, Inc. 10,802 85,120 Insperity, Inc. 20,259 783,416 Insteel Industries, Inc. 15,967 264,893 * Integrated Electrical Services, Inc. 5,698 26,553 # Interface, Inc. 50,093 1,014,383 # International Shipholding Corp. 3,805 94,440 # Intersections, Inc. 13,979 119,800 Iron Mountain, Inc. 73,553 1,952,097 ITT Corp. 71,918 2,857,302 * Jacobs Engineering Group, Inc. 97,903 5,954,460 JB Hunt Transport Services, Inc. 33,278 2,496,848 #* JetBlue Airways Corp. 249,309 1,767,601 John Bean Technologies Corp. 17,119 465,294 # Joy Global, Inc. 26,743 1,517,665 Kadant, Inc. 7,600 272,080 Kaman Corp. 50,489 1,877,181 Kansas City Southern 54,035 6,566,333 KAR Auction Services, Inc. 136,028 4,042,752 KBR, Inc. 145,356 5,020,596 Kelly Services, Inc. Class A 35,712 744,952 Kelly Services, Inc. Class B 319 6,830 # Kennametal, Inc. 77,107 3,546,922 * Key Technology, Inc. 3,418 49,458 Kforce, Inc. 29,749 585,758 Kimball International, Inc. Class B 25,934 303,428 #* Kirby Corp. 56,906 5,035,612 # Knight Transportation, Inc. 80,241 1,361,690 Knoll, Inc. 35,055 575,603 * Korn/Ferry International 48,684 1,158,679 #* Kratos Defense & Security Solutions, Inc. 54,740 464,195 L-3 Communications Holdings, Inc. 65,147 6,544,016 Landstar System, Inc. 16,821 930,033 * Lawson Products, Inc. 5,743 75,348 * Layne Christensen Co. 19,805 383,029 LB Foster Co. Class A 9,200 430,100 Lennox International, Inc. 28,450 2,220,807 Lincoln Electric Holdings, Inc. 59,903 4,147,684 # Lindsay Corp. 9,181 697,848 #* LMI Aerospace, Inc. 9,060 142,242 Lockheed Martin Corp. 63,470 8,463,090 LS Starrett Co. (The) Class A 4,692 53,348 LSI Industries, Inc. 17,359 159,876 * Luna Innovations, Inc. 90 130 * Lydall, Inc. 12,907 235,166 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Industrials -- (Continued) * Magnetek, Inc. 590 $ 10,691 #* Manitex International, Inc. 2,000 25,860 # Manitowoc Co., Inc. (The) 99,777 1,941,660 Manpowergroup, Inc. 71,498 5,583,994 Marten Transport, Ltd. 32,103 566,297 Masco Corp. 154,400 3,262,472 #* MasTec, Inc. 74,055 2,367,538 Mastech Holdings, Inc. 1,130 16,475 Matson, Inc. 42,724 1,157,393 McGrath RentCorp 21,730 775,109 * Meritor, Inc. 73,179 502,740 * Metalico, Inc. 29,181 47,857 * Mfri, Inc. 3,034 35,923 * Middleby Corp. 13,687 3,115,846 Miller Industries, Inc. 8,825 165,381 Mine Safety Appliances Co. 29,013 1,397,266 * Mistras Group, Inc. 18,236 334,813 * Mobile Mini, Inc. 45,488 1,643,027 * Moog, Inc. Class A 41,589 2,484,111 * Moog, Inc. Class B 3,215 194,443 * MRC Global, Inc. 32,113 897,558 MSC Industrial Direct Co., Inc. Class A 27,708 2,116,060 Mueller Industries, Inc. 31,214 1,881,892 Mueller Water Products, Inc. Class A 127,169 1,089,838 # Multi-Color Corp. 9,446 329,004 * MYR Group, Inc. 19,269 509,665 National Presto Industries, Inc. 5,789 408,414 #* National Technical Systems, Inc. 4,603 105,363 * Navigant Consulting, Inc. 48,916 848,693 #* Navistar International Corp. 64,227 2,322,448 #* NCI Building Systems, Inc. 10,711 154,560 Nielsen Holdings NV 265,474 10,470,295 NL Industries, Inc. 32,061 373,831 NN, Inc. 17,391 279,647 Nordson Corp. 26,865 1,936,698 Norfolk Southern Corp. 106,333 9,146,765 * Nortek, Inc. 880 61,750 Northrop Grumman Corp. 70,930 7,625,684 * Northwest Pipe Co. 7,977 287,411 #* Ocean Power Technologies, Inc. 5,515 12,960 * Old Dominion Freight Line, Inc. 56,930 2,670,017 # Omega Flex, Inc. 3,648 74,200 * On Assignment, Inc. 42,076 1,421,748 * Orbital Sciences Corp. 57,966 1,337,276 * Orion Energy Systems, Inc. 13,505 57,396 * Orion Marine Group, Inc. 13,198 164,975 * Oshkosh Corp. 88,042 4,189,919 * Owens Corning 108,316 3,891,794 PACCAR, Inc. 75,277 4,185,401 * Pacer International, Inc. 33,338 266,037 Pall Corp. 33,841 2,724,877 PAM Transportation Services, Inc. 4,978 86,617 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Industrials -- (Continued) * Park-Ohio Holdings Corp. 9,331 $ 386,397 Parker Hannifin Corp. 64,362 7,512,333 #* Patrick Industries, Inc. 7,925 247,894 * Patriot Transportation Holding, Inc. 4,366 161,411 #* Pendrell Corp. 103,176 230,082 Pentair, Ltd. 148,325 9,951,124 * PGT, Inc. 38,073 397,863 Pike Electric Corp. 31,344 338,829 # Pitney Bowes, Inc. 83,168 1,774,805 #* Plug Power, Inc. 784 455 #* PMFG, Inc. 6,463 50,670 #* Polypore International, Inc. 32,355 1,462,446 * Powell Industries, Inc. 10,710 672,909 * PowerSecure International, Inc. 16,905 305,642 Precision Castparts Corp. 32,096 8,134,731 Preformed Line Products Co. 4,237 355,993 Primoris Services Corp. 40,958 1,066,546 #* Proto Labs, Inc. 6,929 581,066 Providence and Worcester Railroad Co. 1,227 25,117 Quad/Graphics, Inc. 4,393 153,404 * Quality Distribution, Inc. 20,913 214,986 # Quanex Building Products Corp. 35,157 625,091 * Quanta Services, Inc. 158,715 4,794,780 # Raven Industries, Inc. 17,609 587,436 Raytheon Co. 90,859 7,484,056 * RBC Bearings, Inc. 17,157 1,180,230 RCM Technologies, Inc. 7,192 46,388 #* Real Goods Solar, Inc. Class A 4,310 14,439 Regal-Beloit Corp. 40,129 2,942,660 * Republic Airways Holdings, Inc. 41,632 490,425 Republic Services, Inc. 266,181 8,909,078 Resources Connection, Inc. 39,666 506,138 * Roadrunner Transportation Systems, Inc. 37,676 998,414 Robert Half International, Inc. 54,256 2,090,484 Rockwell Automation, Inc. 41,898 4,625,958 Rockwell Collins, Inc. 40,018 2,794,457 Rollins, Inc. 44,529 1,230,782 Roper Industries, Inc. 37,266 4,725,701 * RPX Corp. 52,348 934,935 RR Donnelley & Sons Co. 149,640 2,778,815 * Rush Enterprises, Inc. Class A 27,316 781,784 * Rush Enterprises, Inc. Class B 2,881 70,037 Ryder System, Inc. 55,840 3,675,947 * Saia, Inc. 19,057 619,924 Schawk, Inc. 16,375 239,403 * Sensata Technologies Holding NV 53,346 2,007,410 Servotronics, Inc. 389 3,283 SIFCO Industries, Inc. 3,251 72,107 Simpson Manufacturing Co., Inc. 49,610 1,758,675 SkyWest, Inc. 44,565 670,258 SL Industries, Inc. 4,724 127,548 Snap-on, Inc. 38,814 4,039,373 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Industrials -- (Continued) Southwest Airlines Co. 508,666 $ 8,759,229 * Sparton Corp. 6,370 168,104 * Spirit Aerosystems Holdings, Inc. Class A 119,099 3,178,752 * Spirit Airlines, Inc. 57,629 2,486,691 SPX Corp. 45,481 4,125,582 * Standard Parking Corp. 7,985 211,363 * Standard Register Co. (The) 2,977 25,305 Standex International Corp. 9,693 596,216 Stanley Black & Decker, Inc. 117,142 9,264,761 Steelcase, Inc. Class A 69,099 1,132,533 * Stericycle, Inc. 25,906 3,010,277 * Sterling Construction Co., Inc. 11,349 108,950 Sun Hydraulics Corp. 18,047 716,105 * Supreme Industries, Inc. Class A 5,876 35,961 #* Swift Transportation Co. 69,586 1,516,279 Sypris Solutions, Inc. 12,624 40,271 # TAL International Group, Inc. 33,738 1,629,883 * Taser International, Inc. 32,983 586,108 * Team, Inc. 14,115 526,348 * Tecumseh Products Co. Class A 8,422 65,692 * Tecumseh Products Co. Class B 4,050 29,525 * Teledyne Technologies, Inc. 24,127 2,142,960 # Tennant Co. 14,214 862,648 * Terex Corp. 111,716 3,904,474 #* Tetra Tech, Inc. 58,641 1,532,289 # Textainer Group Holdings, Ltd. 50,784 1,924,714 Textron, Inc. 148,525 4,276,035 * Thermon Group Holdings, Inc. 5,628 132,314 Timken Co. 66,556 3,514,822 # Titan International, Inc. 48,369 701,351 #* Titan Machinery, Inc. 18,690 329,692 Toro Co. (The) 31,166 1,836,924 Towers Watson & Co. Class A 34,849 4,001,014 TransDigm Group, Inc. 23,622 3,434,875 * TRC Cos., Inc. 15,862 121,979 #* Trex Co., Inc. 9,200 646,024 * Trimas Corp. 35,168 1,331,460 # Trinity Industries, Inc. 84,869 4,296,917 Triumph Group, Inc. 50,187 3,595,899 * TrueBlue, Inc. 33,359 823,967 * Tufco Technologies, Inc. 510 2,576 * Tutor Perini Corp. 47,391 1,087,623 Twin Disc, Inc. 9,700 250,939 Tyco International, Ltd. 131,362 4,801,281 * Ultralife Corp. 11,666 45,497 UniFirst Corp. 14,507 1,491,610 Union Pacific Corp. 158,185 23,949,209 * United Continental Holdings, Inc. 187,563 6,367,764 United Parcel Service, Inc. Class B 171,418 16,840,104 #* United Rentals, Inc. 86,006 5,555,128 # United Stationers, Inc. 39,074 1,736,449 United Technologies Corp. 215,910 22,940,437 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ------------ Industrials -- (Continued) Universal Forest Products, Inc. 15,510 $ 820,789 * Universal Security Instruments, Inc. 1,135 5,420 # Universal Truckload Services, Inc. 12,449 331,890 URS Corp. 74,343 4,030,877 #* US Airways Group, Inc. 114,796 2,522,068 US Ecology, Inc. 14,371 510,889 * USA Truck, Inc. 6,922 91,924 #* USG Corp. 53,275 1,454,940 UTi Worldwide, Inc. 105,872 1,609,254 # Valmont Industries, Inc. 18,163 2,551,901 * Verisk Analytics, Inc. Class A 51,448 3,525,217 * Versar, Inc. 4,038 19,100 Viad Corp. 17,669 471,762 * Vicor Corp. 15,288 134,687 * Virco Manufacturing Corp. 6,445 13,083 * Volt Information Sciences, Inc. 10,850 94,395 VSE Corp. 3,584 156,979 #* Wabash National Corp. 53,522 624,067 * WABCO Holdings, Inc. 24,990 2,141,143 Wabtec Corp. 62,832 4,096,018 # Waste Connections, Inc. 109,765 4,691,356 Waste Management, Inc. 114,999 5,007,056 Watsco, Inc. 23,787 2,266,663 Watsco, Inc. Class B 2,268 216,889 Watts Water Technologies, Inc. Class A 28,705 1,658,575 # Werner Enterprises, Inc. 68,119 1,577,636 * Wesco Aircraft Holdings, Inc. 12,003 219,895 #* WESCO International, Inc. 43,356 3,705,204 * Willdan Group, Inc. 3,604 13,767 * Willis Lease Finance Corp. 4,420 77,041 Woodward, Inc. 53,457 2,143,091 WW Grainger, Inc. 12,613 3,392,519 * XPO Logistics, Inc. 14,260 287,767 Xylem, Inc. 93,860 3,238,170 #* YRC Worldwide, Inc. 8,409 79,717 ------------ Total Industrials 997,694,117 ------------ Information Technology -- (14.8%) #* 3D Systems Corp. 42,720 2,658,893 * Accelrys, Inc. 49,662 464,340 Accenture P.L.C. Class A 180,017 13,231,249 * ACI Worldwide, Inc. 32,508 1,791,841 * Active Network, Inc. (The) 2,425 35,017 Activision Blizzard, Inc. 197,862 3,292,424 * Actuate Corp. 36,962 296,066 * Acxiom Corp. 65,750 2,184,872 * ADDvantage Technologies Group, Inc. 3,642 9,651 * Adobe Systems, Inc. 109,076 5,911,919 # ADTRAN, Inc. 51,470 1,208,516 * Advanced Energy Industries, Inc. 38,979 813,882 #* Advanced Micro Devices, Inc. 375,926 1,255,593 Advent Software, Inc. 41,493 1,392,090 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ------------ Information Technology -- (Continued) * Aehr Test Systems 788 $ 2,009 * Aeroflex Holding Corp. 6,134 47,539 * Aetrium, Inc. 207 735 * Agilysys, Inc. 18,455 216,846 * Akamai Technologies, Inc. 72,284 3,233,986 #* Alliance Data Systems Corp. 15,296 3,626,070 * Alpha & Omega Semiconductor, Ltd. 15,468 113,844 Altera Corp. 68,041 2,286,178 Amdocs, Ltd. 121,033 4,653,719 American Software, Inc. Class A 17,465 152,819 * Amkor Technology, Inc. 135,464 719,314 Amphenol Corp. Class A 48,943 3,929,633 * Amtech Systems, Inc. 7,913 63,304 #* ANADIGICS, Inc. 59,417 120,022 Analog Devices, Inc. 102,347 5,045,707 * Anaren, Inc. 11,508 287,470 * Anixter International, Inc. 26,166 2,236,931 * ANSYS, Inc. 27,239 2,382,051 # AOL, Inc. 75,754 2,745,325 Apple, Inc. 195,508 102,123,604 Applied Materials, Inc. 361,152 6,446,563 * Applied Micro Circuits Corp. 45,721 533,107 * ARRIS Group, Inc. 104,391 1,864,423 * Arrow Electronics, Inc. 102,391 4,916,816 * Aruba Networks, Inc. 48,167 903,613 * AsiaInfo-Linkage, Inc. 44,346 514,414 * Aspen Technology, Inc. 40,839 1,561,275 Astro-Med, Inc. 4,620 58,582 * Atmel Corp. 333,677 2,429,169 * ATMI, Inc. 32,872 898,720 * Autobytel, Inc. 267 2,176 * Autodesk, Inc. 63,776 2,545,300 Automatic Data Processing, Inc. 103,175 7,735,030 Avago Technologies, Ltd. 72,185 3,279,365 #* AVG Technologies NV 20,013 402,261 * Aviat Networks, Inc. 47,169 97,168 * Avid Technology, Inc. 31,560 235,122 Avnet, Inc. 124,893 4,958,252 AVX Corp. 89,161 1,181,383 Aware, Inc. 12,087 63,215 * Axcelis Technologies, Inc. 26,915 58,406 * AXT, Inc. 24,367 55,069 # Badger Meter, Inc. 9,972 518,644 #* Bankrate, Inc. 20,971 353,152 Bel Fuse, Inc. Class A 1,700 35,054 Bel Fuse, Inc. Class B 7,561 159,083 * Benchmark Electronics, Inc. 43,736 994,119 Black Box Corp. 13,595 340,419 Blackbaud, Inc. 19,938 717,768 #* Blucora, Inc. 41,339 976,841 Booz Allen Hamilton Holding Corp. 48,102 952,420 #* Bottomline Technologies de, Inc. 28,928 908,918 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Information Technology -- (Continued) Broadcom Corp. Class A 79,770 $ 2,131,454 Broadridge Financial Solutions, Inc. 94,630 3,327,191 * BroadVision, Inc. 3,362 32,578 * Brocade Communications Systems, Inc. 442,637 3,549,949 Brooks Automation, Inc. 62,530 602,789 * Bsquare Corp. 4,926 15,862 * BTU International, Inc. 5,073 16,792 CA, Inc. 328,482 10,432,588 * Cabot Microelectronics Corp. 18,015 736,633 #* CACI International, Inc. Class A 21,582 1,553,472 #* Cadence Design Systems, Inc. 226,920 2,943,152 * CalAmp Corp. 16,958 399,022 * Calix, Inc. 47,413 482,190 * Cardtronics, Inc. 21,274 835,005 * Cascade Microtech, Inc. 8,576 87,818 # Cass Information Systems, Inc. 8,035 460,647 * Ceva, Inc. 21,122 302,678 * Checkpoint Systems, Inc. 39,617 674,281 #* China Information Technology, Inc. 11,819 54,013 * ChyronHego Corp. 5,535 8,303 * CIBER, Inc. 93,231 303,001 #* Ciena Corp. 88,417 2,057,464 * Cinedigm Corp. 4,102 7,343 #* Cirrus Logic, Inc. 48,645 1,091,107 Cisco Systems, Inc. 1,871,862 42,116,895 * Citrix Systems, Inc. 38,695 2,197,102 * Clearfield, Inc. 8,284 122,935 Cognex Corp. 69,150 2,160,937 * Cognizant Technology Solutions Corp. Class A 70,976 6,169,944 #* Cogo Group, Inc. 7,800 18,486 Coherent, Inc. 22,658 1,499,733 Cohu, Inc. 18,243 174,403 Communications Systems, Inc. 6,855 78,216 * CommVault Systems, Inc. 21,597 1,686,294 Computer Sciences Corp. 114,779 5,654,014 Computer Task Group, Inc. 12,978 222,313 Compuware Corp. 178,883 1,910,470 * comScore, Inc. 7,532 201,255 Comtech Telecommunications Corp. 17,310 519,646 * Comverse, Inc. 87 2,747 #* Concur Technologies, Inc. 33,247 3,477,636 Concurrent Computer Corp. 5,951 43,859 * Constant Contact, Inc. 23,636 612,409 Convergys Corp. 94,587 1,867,147 * CoreLogic, Inc. 93,931 3,125,084 * Cornerstone OnDemand, Inc. 1,702 80,624 Corning, Inc. 497,751 8,506,565 * CoStar Group, Inc. 21,425 3,792,011 * Cray, Inc. 35,502 793,825 #* Cree, Inc. 100,922 6,131,011 #* Crexendo, Inc. 4,054 12,567 CSG Systems International, Inc. 32,091 894,055 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Information Technology -- (Continued) CSP, Inc. 709 $ 5,360 CTS Corp. 30,923 575,786 * CyberOptics Corp. 4,778 24,224 # Cypress Semiconductor Corp. 27,030 250,838 Daktronics, Inc. 33,104 395,924 #* Datalink Corp. 17,533 180,064 * Dealertrack Technologies, Inc. 38,164 1,423,517 #* Demand Media, Inc. 42,677 203,996 #* Dice Holdings, Inc. 43,429 320,506 # Diebold, Inc. 61,433 1,840,533 * Digi International, Inc. 22,616 227,969 Digimarc Corp. 4,419 93,064 * Digital River, Inc. 33,441 596,587 * Diodes, Inc. 47,242 1,144,201 # Dolby Laboratories, Inc. Class A 39,752 1,420,736 * Dot Hill Systems Corp. 26,438 76,670 * DSP Group, Inc. 16,722 124,579 DST Systems, Inc. 42,236 3,580,346 #* DTS, Inc. 14,394 287,880 * Dynamics Research Corp. 6,203 45,902 EarthLink, Inc. 86,005 435,185 * eBay, Inc. 254,864 13,433,881 # Ebix, Inc. 29,226 332,592 * Echelon Corp. 6,990 15,168 * EchoStar Corp. Class A 41,970 2,012,881 * Edgewater Technology, Inc. 5,900 40,415 * Elecsys Corp. 58 509 Electro Rent Corp. 21,064 382,101 Electro Scientific Industries, Inc. 23,740 284,405 * Electronic Arts, Inc. 182,771 4,797,739 * Electronics for Imaging, Inc. 44,894 1,540,313 #* Ellie Mae, Inc. 16,863 487,341 # eMagin Corp. 9,611 26,430 EMC Corp. 664,304 15,989,797 #* Emcore Corp. 15,932 84,918 * Emulex Corp. 91,883 691,879 * Entegris, Inc. 138,054 1,428,859 #* Entropic Communications, Inc. 76,455 327,227 * Envestnet, Inc. 6,963 252,757 * EPAM Systems, Inc. 4,784 179,256 EPIQ Systems, Inc. 34,141 510,749 ePlus, Inc. 6,933 376,878 #* Equinix, Inc. 16,279 2,628,733 * Euronet Worldwide, Inc. 42,025 1,823,885 * Exar Corp. 42,322 487,973 * ExlService Holdings, Inc. 23,422 677,130 * Extreme Networks 87,771 470,453 * F5 Networks, Inc. 22,800 1,858,428 * Fabrinet 13,058 218,591 * Facebook, Inc. Class A 349,947 17,588,336 # FactSet Research Systems, Inc. 19,460 2,119,972 Fair Isaac Corp. 27,976 1,602,465 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Information Technology -- (Continued) #* Fairchild Semiconductor International, Inc. 119,689 $ 1,516,460 #* FalconStor Software, Inc. 21,742 32,178 * FARO Technologies, Inc. 11,460 544,350 FEI Co. 33,154 2,953,358 Fidelity National Information Services, Inc. 215,155 10,488,806 * Finisar Corp. 87,719 2,018,414 #* First Solar, Inc. 130,087 6,539,473 * Fiserv, Inc. 61,715 6,463,412 * FleetCor Technologies, Inc. 55,064 6,351,632 FLIR Systems, Inc. 130,061 3,704,137 * FormFactor, Inc. 53,779 280,726 Forrester Research, Inc. 15,969 619,757 * Fortinet, Inc. 56,329 1,132,776 * Freescale Semiconductor, Ltd. 114,502 1,767,911 Frequency Electronics, Inc. 5,169 57,428 #* Fusion-io, Inc. 64,803 696,632 * Gartner, Inc. 30,850 1,818,607 * Genpact, Ltd. 182,432 3,617,627 #* GigOptix, Inc. 1,174 1,644 * Global Cash Access Holdings, Inc. 51,909 430,845 Global Payments, Inc. 54,250 3,226,790 Globalscape, Inc. 7,843 13,137 * Globecomm Systems, Inc. 19,386 271,986 * Google, Inc. Class A 65,230 67,224,733 * GSE Systems, Inc. 10,738 18,255 * GSI Group, Inc. 25,444 253,931 * GSI Technology, Inc. 18,402 129,182 #* GT Advanced Technologies, Inc. 72,222 541,665 #* Guidance Software, Inc. 5,853 51,155 #* Guidewire Software, Inc. 25,133 1,274,746 Hackett Group, Inc. (The) 30,512 217,245 * Harmonic, Inc. 104,319 762,572 Harris Corp. 58,839 3,645,664 * Hauppauge Digital, Inc. 3,948 1,394 # Heartland Payment Systems, Inc. 26,526 1,072,977 Hewlett-Packard Co. 642,686 15,662,258 * Hittite Microwave Corp. 25,186 1,609,134 * Hutchinson Technology, Inc. 19,571 72,804 IAC/InterActiveCorp 85,223 4,550,056 * ID Systems, Inc. 7,118 37,014 * Identive Group, Inc. 29,569 18,921 * IEC Electronics Corp. 5,002 21,509 * iGATE Corp. 36,872 1,174,004 #* iGO, Inc. 457 1,339 * Ikanos Communications, Inc. 4,543 5,951 * Imation Corp. 27,305 126,968 * Immersion Corp. 9,931 126,322 * Infinera Corp. 91,317 932,347 * Informatica Corp. 85,997 3,319,484 * Ingram Micro, Inc. Class A 152,930 3,543,388 * Innodata, Inc. 13,032 31,277 * Inphi Corp. 14,487 213,538 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Information Technology -- (Continued) * Insight Enterprises, Inc. 41,599 $ 876,491 * Integrated Device Technology, Inc. 145,003 1,542,832 * Integrated Silicon Solution, Inc. 27,068 291,793 Intel Corp. 1,702,035 41,580,715 #* Intellicheck Mobilisa, Inc. 4,118 1,853 * Interactive Intelligence Group, Inc. 6,712 412,452 InterDigital, Inc. 29,340 1,136,925 * Internap Network Services Corp. 47,600 346,052 International Business Machines Corp. 236,758 42,429,401 * International Rectifier Corp. 69,826 1,818,269 * Interphase Corp. 2,397 9,756 Intersil Corp. Class A 124,626 1,390,826 # inTEST Corp. 1,100 4,235 * Intevac, Inc. 16,827 85,818 * IntraLinks Holdings, Inc. 32,253 335,109 * IntriCon Corp. 2,604 11,536 # Intuit, Inc. 60,110 4,292,455 #* Inuvo, Inc. 773 1,268 #* InvenSense, Inc. 14,754 249,195 # IPG Photonics Corp. 37,110 2,459,280 * Iteris, Inc. 3,700 7,585 #* Itron, Inc. 34,439 1,469,512 * Ixia 53,268 755,340 IXYS Corp. 23,823 277,061 # j2 Global, Inc. 36,712 2,018,426 Jabil Circuit, Inc. 203,667 4,248,494 Jack Henry & Associates, Inc. 68,386 3,734,559 * JDS Uniphase Corp. 175,850 2,301,876 * Juniper Networks, Inc. 377,588 7,038,240 #* Kemet Corp. 38,237 216,804 * Key Tronic Corp. 8,234 89,339 KLA-Tencor Corp. 70,878 4,649,597 * Kopin Corp. 52,846 193,945 * Kulicke & Soffa Industries, Inc. 72,190 931,251 * KVH Industries, Inc. 14,698 201,951 * Lam Research Corp. 121,541 6,591,168 * Lattice Semiconductor Corp. 108,900 558,657 # Leidos Holdings, Inc. 77,884 3,667,534 Lender Processing Services, Inc. 58,010 2,002,505 # Lexmark International, Inc. Class A 63,988 2,274,773 * LGL Group, Inc. (The) 964 5,726 * Limelight Networks, Inc. 80,422 154,410 Linear Technology Corp. 70,396 2,896,091 * LinkedIn Corp. Class A 21,479 4,804,208 * Lionbridge Technologies, Inc. 40,186 175,211 * Liquidity Services, Inc. 2,998 78,278 Littelfuse, Inc. 17,554 1,492,617 * LogMeIn, Inc. 7,984 257,883 * LoJack Corp. 18,587 81,411 LSI Corp. 434,816 3,687,240 * LTX-Credence Corp. 41,824 256,381 * Magnachip Semiconductor Corp. 32,324 604,136 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Information Technology -- (Continued) * Manhattan Associates, Inc. 14,388 $ 1,532,466 # ManTech International Corp. Class A 21,118 590,037 Marchex, Inc. Class B 18,835 168,008 Marvell Technology Group, Ltd. 377,061 4,524,732 Mastercard, Inc. Class A 24,703 17,714,521 #* Mattersight Corp. 2,290 9,687 * Mattson Technology, Inc. 41,768 123,633 Maxim Integrated Products, Inc. 106,916 3,175,405 MAXIMUS, Inc. 44,744 2,167,847 * MaxLinear, Inc. Class A 9,110 78,893 #* Maxwell Technologies, Inc. 27,354 205,155 * Measurement Specialties, Inc. 12,185 679,070 Mentor Graphics Corp. 102,815 2,270,155 #* Mercury Systems, Inc. 24,032 221,575 # Mesa Laboratories, Inc. 2,478 172,543 Methode Electronics, Inc. 33,723 862,634 Micrel, Inc. 44,629 410,587 # Microchip Technology, Inc. 71,648 3,077,998 * Micron Technology, Inc. 743,836 13,151,020 #* MICROS Systems, Inc. 60,867 3,302,035 * Microsemi Corp. 89,497 2,249,060 Microsoft Corp. 1,967,669 69,557,099 #* Millennial Media, Inc. 3,002 21,104 #* Mindspeed Technologies, Inc. 28,582 82,602 MKS Instruments, Inc. 51,438 1,524,622 # MOCON, Inc. 3,434 47,904 * ModusLink Global Solutions, Inc. 27,305 112,497 Molex, Inc. 89,047 3,437,214 Molex, Inc. Class A 65,321 2,514,858 * MoneyGram International, Inc. 18,841 397,734 Monolithic Power Systems, Inc. 27,993 891,297 # Monotype Imaging Holdings, Inc. 30,733 867,285 #* Monster Worldwide, Inc. 97,000 419,040 #* MoSys, Inc. 27,600 121,440 Motorola Solutions, Inc. 68,951 4,310,817 * Move, Inc. 26,766 454,219 MTS Systems Corp. 12,008 784,363 * Multi-Fineline Electronix, Inc. 19,220 257,740 * Nanometrics, Inc. 19,569 363,592 #* NAPCO Security Technologies, Inc. 8,159 45,854 # National Instruments Corp. 92,830 2,696,711 * NCI, Inc. Class A 5,008 28,546 * NCR Corp. 116,768 4,267,870 #* NeoPhotonics Corp. 1,440 10,210 NetApp, Inc. 164,214 6,373,145 #* NETGEAR, Inc. 32,995 948,936 #* Netlist, Inc. 11,100 9,105 * Netscout Systems, Inc. 31,562 893,836 #* NetSuite, Inc. 17,837 1,799,397 * NeuStar, Inc. Class A 51,089 2,346,007 * Newport Corp. 36,053 572,161 NIC, Inc. 19,240 473,689 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Information Technology -- (Continued) * Novatel Wireless, Inc. 23,600 $ 72,334 #* Nuance Communications, Inc. 227,048 3,532,867 #* Numerex Corp. Class A 7,300 86,213 NVIDIA Corp. 431,093 6,543,992 #* Oclaro, Inc. 55,087 112,377 * Official Payments Holdings, Inc. 9,892 82,499 * OmniVision Technologies, Inc. 52,695 738,257 * ON Semiconductor Corp. 310,662 2,193,274 #* Onvia, Inc. 442 2,166 * Oplink Communications, Inc. 18,141 331,073 Optical Cable Corp. 3,696 14,747 Oracle Corp. 843,387 28,253,464 * OSI Systems, Inc. 15,355 1,118,458 * Pandora Media, Inc. 76,987 1,934,683 * PAR Technology Corp. 8,654 48,116 Park Electrochemical Corp. 17,386 487,677 #* Parkervision, Inc. 2,905 7,960 # Paychex, Inc. 112,070 4,736,078 PC Connection, Inc. 18,315 366,117 PC-Tel, Inc. 12,027 110,769 * PCM, Inc. 7,619 80,152 * PDF Solutions, Inc. 16,670 382,910 Pegasystems, Inc. 5,836 222,118 Perceptron, Inc. 7,250 101,428 * Perficient, Inc. 30,838 557,859 * Performance Technologies, Inc. 4,350 13,485 * Pericom Semiconductor Corp. 18,286 147,751 * Photronics, Inc. 53,760 451,584 * Pixelworks, Inc. 8,118 36,775 * Planar Systems, Inc. 9,180 19,186 Plantronics, Inc. 34,383 1,476,406 * Plexus Corp. 33,454 1,280,619 * PLX Technology, Inc. 26,267 158,653 * PMC - Sierra, Inc. 189,227 1,110,762 * Polycom, Inc. 154,045 1,602,068 Power Integrations, Inc. 20,748 1,191,765 * PRGX Global, Inc. 15,965 114,629 #* Procera Networks, Inc. 11,749 166,248 * Progress Software Corp. 51,253 1,330,528 * PROS Holdings, Inc. 10,446 369,266 * PTC, Inc. 94,640 2,623,421 #* Pulse Electronics Corp. 1,308 4,859 QAD, Inc. Class A 5,194 77,494 # QAD, Inc. Class B 1,959 24,683 * QLIK Technologies, Inc. 40,361 1,022,748 * QLogic Corp. 81,139 1,002,067 QUALCOMM, Inc. 373,897 25,974,625 * Qualstar Corp. 3,826 5,012 #* Quantum Corp. 104,104 129,089 #* QuickLogic Corp. 7,193 27,693 * QuinStreet, Inc. 30,209 268,558 * Qumu Corp. 6,460 96,771 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Information Technology -- (Continued) #* Rackspace Hosting, Inc. 36,495 $ 1,869,639 * Radisys Corp. 20,449 61,756 * Rainmaker Systems, Inc. 4,893 2,447 #* Rambus, Inc. 86,789 758,536 #* RealD, Inc. 33,877 234,429 * RealNetworks, Inc. 27,707 212,513 * Red Hat, Inc. 48,409 2,094,657 * Reis, Inc. 6,081 109,397 * Relm Wireless Corp. 1,238 3,256 #* Remark Media, Inc. 1,020 3,560 * Responsys, Inc. 22,457 366,947 RF Industries, Ltd. 4,931 45,316 * RF Micro Devices, Inc. 252,604 1,326,171 Richardson Electronics, Ltd. 9,355 107,770 #* Riverbed Technology, Inc. 110,153 1,632,467 * Rofin-Sinar Technologies, Inc. 24,231 636,064 * Rogers Corp. 17,028 1,038,027 * Rosetta Stone, Inc. 20,764 315,198 * Rovi Corp. 95,719 1,604,250 #* Rubicon Technology, Inc. 18,250 156,950 * Rudolph Technologies, Inc. 28,723 304,464 * Saba Software, Inc. 10,919 126,660 * Salesforce.com, Inc. 109,500 5,842,920 SanDisk Corp. 175,868 12,222,826 * Sanmina Corp. 81,628 1,188,504 * Sapient Corp. 111,075 1,756,096 * ScanSource, Inc. 24,911 958,077 # Science Applications International Corp. 44,504 1,568,766 #* Scientific Learning Corp. 3,436 1,700 * Seachange International, Inc. 30,040 426,268 Seagate Technology P.L.C. 140,077 6,818,948 * Semtech Corp. 50,115 1,559,078 #* ServiceSource International, Inc. 5,015 54,262 * Sevcon, Inc. 613 2,912 * ShoreTel, Inc. 54,109 430,167 * Sigma Designs, Inc. 28,288 153,887 #* Silicon Graphics International Corp. 18,836 240,536 * Silicon Image, Inc. 72,830 382,358 * Silicon Laboratories, Inc. 32,884 1,322,594 * Skyworks Solutions, Inc. 180,019 4,640,890 * Smith Micro Software, Inc. 22,674 18,366 #* SMTC Corp. 10,077 19,650 * SolarWinds, Inc. 27,322 988,783 Solera Holdings, Inc. 45,933 2,582,353 #* Sonus Networks, Inc. 253,700 761,100 #* Spansion, Inc. Class A 51,364 614,827 #* Spark Networks, Inc. 7,600 54,416 * Speed Commerce, Inc. 23,259 85,361 * SS&C Technologies Holdings, Inc. 75,258 2,957,639 * Stamps.com, Inc. 10,873 494,069 * StarTek, Inc. 8,170 51,144 #* STR Holdings, Inc. 11,700 23,283 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Information Technology -- (Continued) * Stratasys, Ltd. 35,874 $ 4,062,013 * SunEdison, Inc. 205,115 1,907,569 #* SunPower Corp. 104,563 3,156,757 * Super Micro Computer, Inc. 26,084 363,089 Supertex, Inc. 10,878 277,498 * support.com, Inc. 40,832 182,111 * Sykes Enterprises, Inc. 43,294 810,464 Symantec Corp. 157,210 3,574,955 * Symmetricom, Inc. 33,506 240,238 #* Synaptics, Inc. 25,343 1,178,449 * Synchronoss Technologies, Inc. 29,326 1,015,266 * SYNNEX Corp. 37,675 2,309,477 * Synopsys, Inc. 114,785 4,183,913 Syntel, Inc. 27,343 2,347,123 * Take-Two Interactive Software, Inc. 72,983 1,307,126 #* Tangoe, Inc. 3,700 70,670 TE Connectivity, Ltd. 126,207 6,498,398 * Tech Data Corp. 36,999 1,926,168 * TeleCommunication Systems, Inc. Class A 40,503 92,347 * Telenav, Inc. 29,514 213,977 * TeleTech Holdings, Inc. 39,259 1,039,186 Tellabs, Inc. 340,560 830,966 * Teradata Corp. 43,236 1,905,411 #* Teradyne, Inc. 189,892 3,321,211 # Tessco Technologies, Inc. 6,747 239,046 Tessera Technologies, Inc. 52,636 1,001,137 Texas Instruments, Inc. 269,864 11,355,877 * TheStreet, Inc. 10,517 24,715 * TIBCO Software, Inc. 127,676 3,135,723 * TiVo, Inc. 19,132 254,264 Total System Services, Inc. 121,215 3,615,843 Transact Technologies, Inc. 5,192 71,598 #* Transwitch Corp. 131 27 #* Travelzoo, Inc. 2,163 46,569 * Trimble Navigation, Ltd. 85,222 2,434,793 * Trio Tech International 1,525 5,109 * TriQuint Semiconductor, Inc. 155,103 1,229,967 * Trulia, Inc. 1,605 64,152 TSR, Inc. 210 712 * TTM Technologies, Inc. 66,566 582,453 * Tyler Technologies, Inc. 17,136 1,657,223 * Ultimate Software Group, Inc. 5,416 836,664 * Ultra Clean Holdings 17,376 161,771 * Ultratech, Inc. 20,540 488,647 #* Unisys Corp. 34,005 896,032 United Online, Inc. 90,909 785,454 #* Unwired Planet, Inc. 42,677 69,137 #* USA Technologies, Inc. 15,296 29,215 * UTStarcom Holdings Corp. 13,753 38,508 #* ValueClick, Inc. 56,651 1,088,266 * Vantiv, Inc. Class A 25,363 697,483 #* Veeco Instruments, Inc. 37,861 1,105,920 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- -------------- Information Technology -- (Continued) * VeriFone Systems, Inc. 59,907 $ 1,357,493 * Verint Systems, Inc. 42,645 1,557,395 #* VeriSign, Inc. 48,085 2,610,054 #* ViaSat, Inc. 37,708 2,493,253 #* Viasystems Group, Inc. 15,052 225,780 * Vicon Industries, Inc. 600 1,770 * Video Display Corp. 3,612 13,075 * Virtusa Corp. 22,068 685,873 Visa, Inc. Class A 127,752 25,124,986 #* Vishay Intertechnology, Inc. 119,662 1,468,253 * Vishay Precision Group, Inc. 12,209 200,228 * VistaPrint NV 23,086 1,247,798 * VMware, Inc. Class A 15,624 1,269,919 * Wave Systems Corp. Class A 475 646 Wayside Technology Group, Inc. 2,300 30,130 #* Web.com Group, Inc. 31,944 860,891 #* WebMD Health Corp. 31,910 1,123,870 #* Westell Technologies, Inc. Class A 41,522 149,064 Western Digital Corp. 172,010 11,977,056 # Western Union Co. (The) 164,815 2,805,151 * WEX, Inc. 30,902 2,884,702 * Wireless Telecom Group, Inc. 3,316 5,936 Xerox Corp. 944,292 9,386,262 Xilinx, Inc. 75,886 3,446,742 * XO Group, Inc. 24,719 343,100 Xyratex, Ltd. 25,063 249,126 * Yahoo!, Inc. 346,508 11,410,508 * Zebra Technologies Corp. Class A 39,815 1,923,463 #* Zix Corp. 44,261 180,585 * Zygo Corp. 15,640 241,482 * Zynga, Inc. Class A 661,522 2,374,864 -------------- Total Information Technology 1,225,293,822 -------------- Materials -- (4.3%) A Schulman, Inc. 27,885 923,551 #* AEP Industries, Inc. 4,361 259,131 Air Products & Chemicals, Inc. 42,891 4,675,548 Airgas, Inc. 37,000 4,035,590 Albemarle Corp. 62,555 4,140,515 # Alcoa, Inc. 687,756 6,375,498 # Allegheny Technologies, Inc. 99,104 3,280,342 #* Allied Nevada Gold Corp. 61,549 251,120 #* AM Castle & Co. 20,061 287,073 # AMCOL International Corp. 28,333 908,923 * American Biltrite, Inc. 17 6,887 * American Pacific Corp. 4,601 209,438 American Vanguard Corp. 20,061 523,592 # Aptargroup, Inc. 46,563 2,987,482 #* Arabian American Development Co. 13,745 125,079 Ashland, Inc. 57,573 5,328,381 Avery Dennison Corp. 82,517 3,888,201 Axiall Corp. 50,831 1,976,818 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Materials -- (Continued) # Balchem Corp. 20,092 $ 1,150,468 Ball Corp. 40,385 1,974,423 # Bemis Co., Inc. 99,561 3,972,484 Cabot Corp. 64,308 2,997,396 * Calgon Carbon Corp. 47,248 942,598 # Carpenter Technology Corp. 44,004 2,610,757 Celanese Corp. Series A 47,774 2,675,822 * Century Aluminum Co. 89,462 776,530 CF Industries Holdings, Inc. 42,671 9,199,868 Chase Corp. 5,531 167,368 * Chemtura Corp. 98,026 2,401,637 * Clearwater Paper Corp. 20,924 1,092,651 # Cliffs Natural Resources, Inc. 211,131 5,421,844 * Coeur d'Alene Mines Corp. 77,841 950,439 Commercial Metals Co. 116,807 2,144,577 # Compass Minerals International, Inc. 25,833 1,923,784 #* Contango ORE, Inc. 833 7,664 * Continental Materials Corp. 268 4,687 * Core Molding Technologies, Inc. 5,580 60,264 * Crown Holdings, Inc. 45,145 1,968,322 Cytec Industries, Inc. 40,733 3,384,505 Deltic Timber Corp. 6,112 390,435 Domtar Corp. 30,679 2,598,818 Dow Chemical Co. (The) 364,876 14,401,656 Eagle Materials, Inc. 39,387 2,954,419 Eastman Chemical Co. 55,857 4,400,973 Ecolab, Inc. 84,222 8,927,532 EI du Pont de Nemours & Co. 218,730 13,386,276 * Ferro Corp. 74,702 958,427 #* Flotek Industries, Inc. 41,016 876,922 FMC Corp. 40,833 2,971,009 Freeport-McMoRan Copper & Gold, Inc. 334,465 12,294,933 Friedman Industries, Inc. 5,521 54,768 FutureFuel Corp. 25,322 440,856 #* General Moly, Inc. 63,899 104,794 # Globe Specialty Metals, Inc. 52,261 916,658 #* Golden Minerals Co. 7,014 5,401 * Graphic Packaging Holding Co. 269,699 2,265,472 Greif, Inc. Class A 26,368 1,410,424 Greif, Inc. Class B 14,223 808,578 Hawkins, Inc. 7,394 266,258 Haynes International, Inc. 9,985 538,191 HB Fuller Co. 40,448 1,936,246 * Headwaters, Inc. 36,139 315,493 # Hecla Mining Co. 247,286 771,532 #* Horsehead Holding Corp. 42,475 616,312 Huntsman Corp. 217,636 5,053,508 Innophos Holdings, Inc. 18,057 905,017 Innospec, Inc. 19,194 884,076 International Flavors & Fragrances, Inc. 22,443 1,854,914 International Paper Co. 147,971 6,600,986 # Intrepid Potash, Inc. 65,369 970,730 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Materials -- (Continued) # Kaiser Aluminum Corp. 16,078 $ 1,084,461 KapStone Paper and Packaging Corp. 42,817 2,224,771 KMG Chemicals, Inc. 9,500 189,810 Koppers Holdings, Inc. 8,443 375,798 * Kraton Performance Polymers, Inc. 28,773 612,002 # Kronos Worldwide, Inc. 56,104 870,173 * Landec Corp. 24,600 288,066 * Louisiana-Pacific Corp. 113,401 1,928,951 * LSB Industries, Inc. 20,586 755,918 LyondellBasell Industries NV Class A 93,252 6,956,599 # Martin Marietta Materials, Inc. 30,488 2,990,568 * Material Sciences Corp. 3,017 27,998 Materion Corp. 20,083 598,674 #* McEwen Mining, Inc. 136,545 292,206 MeadWestvaco Corp. 130,601 4,551,445 #* Mercer International, Inc. 42,084 336,672 Minerals Technologies, Inc. 33,798 1,913,981 #* Mines Management, Inc. 4,267 2,560 #* Molycorp, Inc. 10,678 54,137 Monsanto Co. 117,614 12,335,356 Mosaic Co. (The) 92,450 4,238,832 Myers Industries, Inc. 32,287 575,354 Neenah Paper, Inc. 12,464 512,769 # NewMarket Corp. 7,800 2,428,608 Newmont Mining Corp. 142,662 3,888,966 Noranda Aluminum Holding Corp. 43,884 119,364 * Northern Technologies International Corp. 2,180 37,082 Nucor Corp. 229,411 11,876,607 # Olin Corp. 75,199 1,692,729 Olympic Steel, Inc. 9,875 270,279 * OM Group, Inc. 28,483 968,422 * OMNOVA Solutions, Inc. 35,263 306,788 * Owens-Illinois, Inc. 133,816 4,254,011 Packaging Corp. of America 71,239 4,436,765 #* Penford Corp. 9,592 130,451 PH Glatfelter Co. 35,183 921,795 PolyOne Corp. 72,826 2,206,628 PPG Industries, Inc. 32,529 5,939,145 Praxair, Inc. 71,095 8,866,257 Quaker Chemical Corp. 10,295 781,493 Reliance Steel & Aluminum Co. 65,756 4,819,257 * Resolute Forest Products, Inc. 4,112 65,751 Rock Tenn Co. Class A 53,558 5,731,242 Rockwood Holdings, Inc. 57,647 3,646,173 # Royal Gold, Inc. 34,390 1,652,096 RPM International, Inc. 105,547 4,086,780 * RTI International Metals, Inc. 27,121 919,402 # Schnitzer Steel Industries, Inc. Class A 25,360 736,454 Schweitzer-Mauduit International, Inc. 25,108 1,553,683 Scotts Miracle-Gro Co. (The) Class A 49,997 2,935,824 Sealed Air Corp. 169,269 5,108,538 * Senomyx, Inc. 8,376 30,991 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ --------- ------------ Materials -- (Continued) Sensient Technologies Corp. 50,121 $ 2,612,808 Sherwin-Williams Co. (The) 25,786 4,847,768 Sigma-Aldrich Corp. 34,262 2,961,265 Silgan Holdings, Inc. 48,766 2,197,884 #* Silver Bull Resources, Inc. 500 177 * Solitario Exploration & Royalty Corp. 1,700 1,513 Sonoco Products Co. 72,434 2,943,718 # Southern Copper Corp. 41,034 1,146,900 Steel Dynamics, Inc. 215,383 3,870,433 Stepan Co. 14,828 872,924 * Stillwater Mining Co. 107,140 1,168,897 * SunCoke Energy, Inc. 60,568 1,211,360 Synalloy Corp. 4,755 76,508 #* Texas Industries, Inc. 23,386 1,255,828 Tredegar Corp. 12,571 367,325 Tronox, Ltd. Class A 64,056 1,479,053 * United States Lime & Minerals, Inc. 3,372 187,348 # United States Steel Corp. 144,139 3,587,620 * Universal Stainless & Alloy Products, Inc. 5,348 172,847 # US Silica Holdings, Inc. 23,415 815,310 # Valhi, Inc. 66,024 1,212,861 Valspar Corp. (The) 63,347 4,432,390 #* Verso Paper Corp. 12,902 9,225 # Vulcan Materials Co. 96,772 5,182,141 # Walter Energy, Inc. 54,392 864,289 # Wausau Paper Corp. 38,197 446,905 Westlake Chemical Corp. 35,426 3,805,461 Worthington Industries, Inc. 56,984 2,310,131 * WR Grace & Co. 27,933 2,560,339 Zep, Inc. 15,509 308,474 * Zoltek Cos., Inc. 29,849 498,478 ------------ Total Materials 354,429,733 ------------ Other -- (0.0%) (d)* Brooklyn Federal Bancorp, Inc. Escrow Shares 2,293 -- (d)* Concord Camera Corp. Escrow Shares 405 -- (d)* Gerber Scientific, Inc. Escrow Shares 15,579 -- (d)* Price Communications Liquidation Trust 5,700 -- (d)* Softbrands, Inc. Escrow Shares 3,200 -- ------------ Total Other -- ------------ Telecommunication Services -- (1.8%) #* 8x8, Inc. 51,971 595,588 Alaska Communications Systems Group, Inc. 30,523 75,087 # Alteva 3,521 26,936 AT&T, Inc. 1,762,656 63,808,147 Atlantic Tele-Network, Inc. 14,802 820,327 #* Boingo Wireless, Inc. 4,724 32,029 * Cbeyond, Inc. 27,607 177,789 CenturyLink, Inc. 186,399 6,311,470 * Cincinnati Bell, Inc. 122,433 350,158 Consolidated Communications Holdings, Inc. 30,999 577,511 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ --------- ------------ Telecommunication Services -- (Continued) * Crown Castle International Corp. 59,315 $ 4,509,126 # Frontier Communications Corp. 1,078,352 4,755,532 * General Communication, Inc. Class A 35,356 336,236 # HickoryTech Corp. 8,612 115,229 IDT Corp. Class B 16,648 364,425 Inteliquent, Inc. 29,094 373,858 #* Iridium Communications, Inc. 57,785 348,444 * Leap Wireless International, Inc. 51,554 830,019 #* Level 3 Communications, Inc. 134,561 4,110,839 Lumos Networks Corp. 14,315 315,073 #* NII Holdings, Inc. 86,707 298,272 NTELOS Holdings Corp. 16,436 312,942 * ORBCOMM, Inc. 37,244 224,581 * Premiere Global Services, Inc. 46,731 421,046 # PTGi Holding, Inc. 7,362 25,914 * SBA Communications Corp. Class A 38,607 3,376,954 # Shenandoah Telecommunications Co. 20,215 560,562 #* Sprint Corp. 379,417 2,553,476 * Straight Path Communications, Inc. Class B 8,024 43,811 T-Mobile US, Inc. 93,063 2,580,637 Telephone & Data Systems, Inc. 104,657 3,263,205 * tw telecom, Inc. 113,166 3,566,992 United States Cellular Corp. 28,439 1,376,448 USA Mobility, Inc. 19,034 283,987 Verizon Communications, Inc. 743,452 37,551,761 * Vonage Holdings Corp. 169,157 630,956 # Windstream Holdings, Inc. 596,208 5,097,578 ------------ Total Telecommunication Services 151,002,945 ------------ Utilities -- (2.7%) AES Corp. 386,774 5,449,646 AGL Resources, Inc. 57,437 2,748,935 ALLETE, Inc. 30,880 1,560,366 Alliant Energy Corp. 37,851 1,976,579 Ameren Corp. 72,237 2,613,535 American Electric Power Co., Inc. 113,806 5,330,673 American States Water Co. 29,350 835,888 American Water Works Co., Inc. 52,891 2,267,437 # Aqua America, Inc. 137,621 3,465,297 # Artesian Resources Corp. Class A 4,218 96,592 Atmos Energy Corp. 70,178 3,106,780 Avista Corp. 46,814 1,300,961 # Black Hills Corp. 35,316 1,791,228 #* Cadiz, Inc. 2,464 12,690 California Water Service Group 37,634 820,421 * Calpine Corp. 273,448 5,515,446 CenterPoint Energy, Inc. 125,918 3,097,583 Chesapeake Utilities Corp. 7,518 409,054 Cleco Corp. 46,689 2,163,568 CMS Energy Corp. 84,723 2,326,494 Connecticut Water Service, Inc. 6,961 223,100 # Consolidated Edison, Inc. 66,715 3,884,147 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Utilities -- (Continued) # Consolidated Water Co., Ltd. 8,801 $ 132,367 # Delta Natural Gas Co., Inc. 2,858 63,791 Dominion Resources, Inc. 143,795 9,166,931 DTE Energy Co. 55,536 3,839,759 Duke Energy Corp. 168,405 12,079,691 * Dynegy, Inc. 56,836 1,104,323 Edison International 70,491 3,456,174 El Paso Electric Co. 31,807 1,118,652 Empire District Electric Co. (The) 33,542 754,360 Entergy Corp. 54,359 3,518,114 Exelon Corp. 199,101 5,682,343 FirstEnergy Corp. 81,006 3,067,697 Gas Natural, Inc. 3,269 32,592 * Genie Energy, Ltd. Class B 16,745 172,976 Great Plains Energy, Inc. 115,194 2,700,147 # Hawaiian Electric Industries, Inc. 73,076 1,941,629 IDACORP, Inc. 39,868 2,057,189 Integrys Energy Group, Inc. 60,587 3,555,245 # ITC Holdings Corp. 40,912 4,115,338 Laclede Group, Inc. (The) 25,657 1,207,675 MDU Resources Group, Inc. 130,874 3,897,428 # MGE Energy, Inc. 17,745 999,221 Middlesex Water Co. 11,498 238,354 National Fuel Gas Co. 25,246 1,806,351 New Jersey Resources Corp. 32,099 1,477,517 NextEra Energy, Inc. 105,470 8,938,583 NiSource, Inc. 89,963 2,835,634 Northeast Utilities 99,837 4,282,009 # Northwest Natural Gas Co. 19,028 826,386 NorthWestern Corp. 29,844 1,368,049 NRG Energy, Inc. 234,353 6,686,091 NV Energy, Inc. 141,600 3,361,584 OGE Energy Corp. 62,658 2,312,080 ONEOK, Inc. 59,472 3,360,168 # Ormat Technologies, Inc. 33,366 869,852 # Otter Tail Corp. 27,140 809,586 # Pepco Holdings, Inc. 86,562 1,668,915 PG&E Corp. 103,534 4,332,898 Piedmont Natural Gas Co., Inc. 58,655 2,002,482 Pinnacle West Capital Corp. 33,614 1,883,392 PNM Resources, Inc. 60,830 1,455,054 Portland General Electric Co. 59,316 1,702,369 PPL Corp. 151,502 4,640,506 Public Service Enterprise Group, Inc. 133,879 4,484,947 Questar Corp. 132,783 3,141,646 RGC Resources, Inc. 1,530 28,489 SCANA Corp. 41,611 1,940,321 Sempra Energy 57,565 5,246,474 SJW Corp. 14,492 409,109 # South Jersey Industries, Inc. 24,723 1,472,255 Southern Co. (The) 205,906 8,423,614 Southwest Gas Corp. 36,808 1,997,202 U.S. CORE EQUITY 1 PORTFOLIO CONTINUED SHARES VALUE+ ---------- -------------- Utilities -- (Continued) * Synthesis Energy Systems, Inc. 27,753 $ 18,372 # TECO Energy, Inc. 164,882 2,831,024 UGI Corp. 113,291 4,686,849 # UIL Holdings Corp. 38,639 1,488,374 Unitil Corp. 9,947 300,598 UNS Energy Corp. 32,100 1,588,308 Vectren Corp. 61,399 2,144,053 # Westar Energy, Inc. 96,365 3,046,098 WGL Holdings, Inc. 39,328 1,770,153 # Wisconsin Energy Corp. 69,535 2,928,119 Xcel Energy, Inc. 150,926 4,355,724 York Water Co. 8,955 185,458 -------------- Total Utilities 225,005,109 -------------- TOTAL COMMON STOCKS 7,536,332,748 -------------- PREFERRED STOCKS -- (0.0%) Other -- (0.0%) (d)* Enron TOPRS 8.125PCT Escrow Shares 666 -- -------------- RIGHTS/WARRANTS -- (0.0%) (d)#* Caesars Entertainment Corp. Rights 11/02/13 63,258 144,861 (d)* Capital Bank Corp. Contingent Value Rights 988 -- (d)* CVR Energy, Inc. Contingent Value Rights 60,988 -- (d)#* LGL Group Inc (The) Warrants 08/06/18 4,820 482 (d)#* Magnum Hunter Resources Corp. Warrants 04/15/16 12,563 -- (d)* PhotoMedex, Inc. Contingent Value Warrants 12/13/14 389 -- (d)* Tejon Ranch Co. Warrants 8/31/16 2,148 11,492 (d)* U.S. Concrete, Inc. Warrants Class A 08/31/17 294 1,176 (d)* U.S. Concrete, Inc. Warrants Class B 08/31/17 294 1,043 -------------- TOTAL RIGHTS/WARRANTS 159,054 -------------- TEMPORARY CASH INVESTMENTS -- (0.4%) State Street Institutional Liquid Reserves, 0.073% 31,598,604 31,598,604 -------------- SHARES/ FACE AMOUNT (000) ---------- SECURITIES LENDING COLLATERAL -- (8.8%) (S)@ DFA Short Term Investment Fund 63,360,287 733,078,518 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $6,002,014,885) $8,301,168,924 ============== U.S. CORE EQUITY 2 PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 SHARES VALUE+ ------- ----------- COMMON STOCKS -- (90.1%) Consumer Discretionary -- (12.8%) * 1-800-Flowers.com, Inc. Class A 46,103 $ 250,339 Aaron's, Inc. 121,195 3,438,302 # Abercrombie & Fitch Co. Class A 106,414 3,988,397 Advance Auto Parts, Inc. 19,701 1,953,945 #* Aeropostale, Inc. 130,833 1,215,439 * AFC Enterprises, Inc. 20,826 928,423 AH Belo Corp. Class A 28,956 232,806 #* ALCO Stores, Inc. 100 1,102 # Allison Transmission Holdings, Inc. 49,938 1,215,990 * Amazon.com, Inc. 36,479 13,279,450 # Ambassadors Group, Inc. 23,469 86,601 * AMC Networks, Inc. Class A 39,188 2,746,687 Amcon Distributing Co. 668 53,774 * America's Car-Mart, Inc. 14,916 682,258 #* American Apparel, Inc. 38,775 51,959 * American Axle & Manufacturing Holdings, Inc. 26,766 498,115 American Eagle Outfitters, Inc. 273,812 4,241,348 #* American Public Education, Inc. 29,461 1,179,324 * ANN, Inc. 68,590 2,425,342 * Apollo Group, Inc. Class A 129,156 3,447,174 Arctic Cat, Inc. 22,376 1,172,502 # Ark Restaurants Corp. 4,916 104,219 * Asbury Automotive Group, Inc. 51,766 2,487,356 * Ascena Retail Group, Inc. 266,733 5,278,646 #* Ascent Capital Group, Inc. Class A 21,275 1,796,036 # Autoliv, Inc. 52,355 4,671,637 * AutoNation, Inc. 85,779 4,137,121 * AutoZone, Inc. 8,217 3,571,848 * Ballantyne Strong, Inc. 17,770 88,672 #* Bally Technologies, Inc. 37,045 2,709,471 #* Barnes & Noble, Inc. 98,183 1,387,326 Bassett Furniture Industries, Inc. 14,448 202,272 # Beasley Broadcasting Group, Inc. Class A 8,562 74,233 * Beazer Homes USA, Inc. 22,402 407,044 # bebe stores, Inc. 130,718 788,230 * Bed Bath & Beyond, Inc. 45,415 3,511,488 Belo Corp. Class A 157,142 2,157,560 Best Buy Co., Inc. 252,444 10,804,603 Big 5 Sporting Goods Corp. 38,169 721,776 * Big Lots, Inc. 97,736 3,553,681 * Biglari Holdings, Inc. 3,000 1,308,060 #* BJ's Restaurants, Inc. 46,391 1,255,340 #* Blue Nile, Inc. 5,804 238,370 # Blyth, Inc. 24,520 338,621 Bob Evans Farms, Inc. 48,017 2,741,291 #* Body Central Corp. 10,272 57,523 # Bon-Ton Stores, Inc. (The) 26,063 298,421 #* Books-A-Million, Inc. 20,408 51,224 BorgWarner, Inc. 38,658 3,986,800 Bowl America, Inc. Class A 3,937 56,594 * Boyd Gaming Corp. 103,900 1,097,184 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Consumer Discretionary -- (Continued) * Bravo Brio Restaurant Group, Inc. 33,628 $ 502,066 #* Bridgepoint Education, Inc. 68,438 1,341,385 # Brinker International, Inc. 52,003 2,309,973 #* Brookfield Residential Properties, Inc. 5,046 111,416 Brown Shoe Co., Inc. 75,984 1,705,081 Brunswick Corp. 86,917 3,922,564 # Buckle, Inc. (The) 38,775 1,897,649 #* Buffalo Wild Wings, Inc. 23,569 3,360,468 * Build-A-Bear Workshop, Inc. 26,815 210,766 #* Cabela's, Inc. 100,507 5,962,075 # Cablevision Systems Corp. Class A 130,830 2,034,406 #* Cache, Inc. 25,413 153,240 #* Caesars Entertainment Corp. 141,814 2,470,400 # Callaway Golf Co. 117,039 986,639 * Cambium Learning Group, Inc. 82,206 120,021 Canterbury Park Holding Corp. 5,270 59,604 #* Capella Education Co. 21,602 1,315,994 * Career Education Corp. 118,197 647,720 * CarMax, Inc. 80,589 3,786,877 * Carmike Cinemas, Inc. 38,467 880,510 Carnival Corp. 224,400 7,775,460 Carriage Services, Inc. 21,961 441,196 * Carrols Restaurant Group, Inc. 34,757 201,591 # Carter's, Inc. 77,010 5,325,241 Cato Corp. (The) Class A 46,031 1,379,549 #* Cavco Industries, Inc. 12,245 717,190 CBS Corp. Class A 18,791 1,110,736 CBS Corp. Class B 354,501 20,965,189 # CEC Entertainment, Inc. 28,517 1,321,763 #* Central European Media Enterprises, Ltd. Class A 18,678 57,341 #* Charles & Colvard, Ltd. 29,159 154,834 * Charter Communications, Inc. Class A 8,024 1,077,142 # Cheesecake Factory, Inc. (The) 92,624 4,376,484 Cherokee, Inc. 8,005 109,829 Chico's FAS, Inc. 210,925 3,617,364 * Children's Place Retail Stores, Inc. (The) 38,069 2,078,187 * Chipotle Mexican Grill, Inc. 5,722 3,015,322 # Choice Hotels International, Inc. 45,235 2,107,499 * Christopher & Banks Corp. 43,680 252,034 Churchill Downs, Inc. 27,899 2,396,803 Cinemark Holdings, Inc. 153,849 5,047,786 * Citi Trends, Inc. 25,849 379,463 * Clear Channel Outdoor Holdings, Inc. Class A 55,873 474,921 Coach, Inc. 34,738 1,760,522 * Coast Distribution System (The) 1,760 6,063 * Cobra Electronics Corp. 9,352 27,214 #* Coldwater Creek, Inc. 18,233 18,233 # Collectors Universe 8,599 143,173 Columbia Sportswear Co. 50,929 3,405,622 Comcast Corp. Class A 1,101,420 52,405,564 Comcast Corp. Special Class A 337,406 15,621,898 #* Conn's, Inc. 56,833 3,434,987 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Consumer Discretionary -- (Continued) # Cooper Tire & Rubber Co. 105,768 $2,751,026 Core-Mark Holding Co., Inc. 18,941 1,339,697 #* Corinthian Colleges, Inc. 125,219 267,969 Cracker Barrel Old Country Store, Inc. 29,416 3,231,936 * Crocs, Inc. 147,461 1,796,075 * Crown Media Holdings, Inc. Class A 51,149 169,815 CSS Industries, Inc. 8,600 222,654 # CST Brands, Inc. 36,438 1,174,761 CTC Media, Inc. 253,196 3,200,397 # Culp, Inc. 18,403 356,098 #* Cumulus Media, Inc. Class A 25,986 155,396 Dana Holding Corp. 227,791 4,464,704 Darden Restaurants, Inc. 51,600 2,658,948 #* Deckers Outdoor Corp. 58,288 4,011,963 #* dELiA*s, Inc. 15,474 21,354 * Delta Apparel, Inc. 15,491 292,780 Destination Maternity Corp. 22,862 714,209 * Destination XL Group, Inc. 80,586 560,073 # DeVry, Inc. 89,861 3,226,010 * DGSE Cos., Inc. 8,710 21,775 Dick's Sporting Goods, Inc. 28,649 1,524,413 #* Digital Generation, Inc. 46,642 590,021 Dillard's, Inc. Class A 77,200 6,328,856 DineEquity, Inc. 31,889 2,617,130 * DIRECTV 110,916 6,931,141 * Discovery Communications, Inc. Class A 38,327 3,408,037 * Discovery Communications, Inc. Class B 2,270 200,555 * Discovery Communications, Inc. Class C 31,784 2,628,855 DISH Network Corp. Class A 31,943 1,539,653 #* Dixie Group, Inc. (The) 11,235 141,561 * Dollar General Corp. 23,310 1,346,852 * Dollar Tree, Inc. 48,760 2,847,584 Domino's Pizza, Inc. 57,309 3,843,142 Dorman Products, Inc. 54,753 2,661,543 Dover Downs Gaming & Entertainment, Inc. 18,137 27,387 Dover Motorsports, Inc. 9,156 21,608 # DR Horton, Inc. 360,331 6,828,272 #* DreamWorks Animation SKG, Inc. Class A 126,043 4,315,712 # Drew Industries, Inc. 38,571 1,938,578 # DSW, Inc. Class A 46,290 4,058,244 # Dunkin' Brands Group, Inc. 90,209 4,301,165 EDCI Holdings, Inc. 3,419 2,239 #* Education Management Corp. 69,433 1,062,325 Educational Development Corp. 3,809 10,894 Einstein Noah Restaurant Group, Inc. 25,761 459,576 * Emerson Radio Corp. 26,350 50,329 * Emmis Communications Corp. Class A 5,500 13,695 #* Empire Resorts, Inc. 4,800 29,472 #* Entercom Communications Corp. Class A 41,042 359,938 * Entertainment Gaming Asia, Inc. 2,058 3,169 # Entravision Communications Corp. Class A 66,956 451,283 Escalade, Inc. 10,743 94,753 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Consumer Discretionary -- (Continued) # Ethan Allen Interiors, Inc. 47,995 $ 1,278,587 * Ever-Glory International Group, Inc. 2,000 8,600 #* EW Scripps Co. Class A 76,553 1,517,280 # Expedia, Inc. 53,030 3,122,406 * Express, Inc. 87,347 2,027,324 #* FAB Universal Corp. 23,117 144,944 Family Dollar Stores, Inc. 38,461 2,649,194 #* Famous Dave's Of America, Inc. 10,924 197,178 #* Federal-Mogul Corp. 121,977 2,499,309 * Fiesta Restaurant Group, Inc. 31,463 1,333,717 * Fifth & Pacific Cos., Inc. 75,331 1,995,518 Finish Line, Inc. (The) Class A 86,573 2,167,788 #* Flanigan's Enterprises, Inc. 1,000 11,080 Flexsteel Industries, Inc. 7,812 214,518 Foot Locker, Inc. 234,619 8,141,279 Ford Motor Co. 374,507 6,407,815 * Fossil Group, Inc. 34,843 4,422,970 Fred's, Inc. Class A 58,107 941,333 Frisch's Restaurants, Inc. 7,545 181,608 * Fuel Systems Solutions, Inc. 33,207 596,398 #* Full House Resorts, Inc. 19,925 54,794 * G-III Apparel Group, Ltd. 35,952 2,039,197 * Gaiam, Inc. Class A 18,959 118,873 # GameStop Corp. Class A 202,321 11,091,237 Gaming Partners International Corp. 8,266 68,608 Gannett Co., Inc. 362,135 10,020,275 Gap, Inc. (The) 250,607 9,269,953 # Garmin, Ltd. 135,206 6,320,880 #* Geeknet, Inc. 7,665 147,015 * General Motors Co. 436,862 16,142,051 #* Genesco, Inc. 40,175 2,736,319 Gentex Corp. 195,396 5,752,458 * Gentherm, Inc. 58,204 1,359,063 # Genuine Parts Co. 58,553 4,615,733 GNC Holdings, Inc. Class A 12,952 761,837 Goodyear Tire & Rubber Co. (The) 142,429 2,988,160 # Gordmans Stores, Inc. 12,089 119,681 * Grand Canyon Education, Inc. 52,834 2,497,463 #* Gray Television, Inc. 90,481 764,564 * Gray Television, Inc. Class A 3,160 24,395 # Group 1 Automotive, Inc. 40,147 2,569,408 #* Groupon, Inc. 29,440 268,787 # Guess?, Inc. 135,741 4,241,906 H&R Block, Inc. 48,700 1,385,028 * Hallwood Group, Inc. (The) 1,023 9,775 * Hampshire Group, Ltd. 1,000 3,845 Hanesbrands, Inc. 47,175 3,213,561 Harley-Davidson, Inc. 64,955 4,159,718 Harman International Industries, Inc. 107,592 8,717,104 #* Harris Interactive, Inc. 13,112 24,913 Harte-Hanks, Inc. 101,453 808,580 # Hasbro, Inc. 34,967 1,806,046 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Consumer Discretionary -- (Continued) Hastings Entertainment, Inc. 2,673 $ 5,506 Haverty Furniture Cos., Inc. 34,291 953,633 # Haverty Furniture Cos., Inc. Class A 2,523 70,644 * Helen of Troy, Ltd. 52,993 2,475,833 * Here Media, Inc.(427105101) 300 3 * Here Media, Inc.(427105200) 300 3 #* hhgregg, Inc. 53,331 827,164 #* Hibbett Sports, Inc. 24,675 1,439,293 Hillenbrand, Inc. 104,378 2,945,547 * Hollywood Media Corp. 12,071 22,573 Home Depot, Inc. (The) 243,582 18,972,602 # Hooker Furniture Corp. 16,557 261,601 HSN, Inc. 62,267 3,262,791 * Hyatt Hotels Corp. Class A 31,138 1,482,169 #* Iconix Brand Group, Inc. 111,831 4,035,981 International Game Technology 59,806 1,124,353 International Speedway Corp. Class A 44,175 1,444,964 Interpublic Group of Cos., Inc. (The) 412,069 6,922,759 Interval Leisure Group, Inc. 92,846 2,253,372 #* iRobot Corp. 51,251 1,735,871 * Isle of Capri Casinos, Inc. 54,990 445,969 #* ITT Educational Services, Inc. 15,300 613,836 * Jack in the Box, Inc. 70,959 2,886,612 # JAKKS Pacific, Inc. 27,534 177,319 * Jarden Corp. 153,127 8,477,111 #* JC Penney Co., Inc. 188,258 1,411,935 # John Wiley & Sons, Inc. Class A 83,396 4,193,985 John Wiley & Sons, Inc. Class B 7,502 377,388 Johnson Controls, Inc. 373,276 17,226,687 Johnson Outdoors, Inc. Class A 19,561 536,558 Jones Group, Inc. (The) 135,586 2,107,006 #* Jos A Bank Clothiers, Inc. 43,928 2,107,665 * Journal Communications, Inc. Class A 71,971 600,958 * K12, Inc. 49,967 913,397 # KB Home 120,600 2,046,582 #* Kid Brands, Inc. 43,775 61,066 * Kirkland's, Inc. 29,803 529,003 Kohl's Corp. 142,442 8,090,706 * Kona Grill, Inc. 11,997 164,719 # Koss Corp. 4,495 22,475 #* Krispy Kreme Doughnuts, Inc. 103,485 2,510,546 L Brands, Inc. 88,844 5,562,523 La-Z-Boy, Inc. 93,027 2,147,063 #* Lakeland Industries, Inc. 7,818 42,452 * Lamar Advertising Co. Class A 64,341 2,941,027 Las Vegas Sands Corp. 56,918 3,996,782 * Lazare Kaplan International, Inc. 3,667 6,197 #* LeapFrog Enterprises, Inc. 88,244 755,369 Lear Corp. 74,859 5,793,338 #* Learning Tree International, Inc. 16,482 47,303 #* Lee Enterprises, Inc. 46,810 128,728 # Leggett & Platt, Inc. 187,397 5,573,187 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Consumer Discretionary -- (Continued) # Lennar Corp. Class A 189,831 $ 6,748,492 Lennar Corp. Class B 30,153 888,609 * Libbey, Inc. 27,932 596,348 * Liberty Global P.L.C. Class A 89,117 6,984,099 * Liberty Global P.L.C. Class B 808 63,460 * Liberty Global P.L.C. Series C 66,326 4,965,164 * Liberty Interactive Corp. Class A 542,102 14,615,070 * Liberty Interactive Corp. Class B 11,386 307,194 * Liberty Media Corp. Class A 135,703 20,750,346 * Liberty Media Corp. Class B 5,224 787,622 * Liberty Ventures Series A 33,924 3,642,420 * Liberty Ventures Series B 569 61,389 #* Life Time Fitness, Inc. 69,694 3,165,501 Lifetime Brands, Inc. 15,818 247,710 * LIN Media LLC Class A 49,530 1,216,952 # Lincoln Educational Services Corp. 32,420 154,968 #* Lions Gate Entertainment Corp. 12,506 432,457 Lithia Motors, Inc. Class A 38,194 2,400,493 * Live Nation Entertainment, Inc. 332,322 6,460,340 * LKQ Corp. 376,352 12,430,907 Loral Space & Communications, Inc. 30,095 2,147,880 Lowe's Cos., Inc. 331,612 16,507,645 * Luby's, Inc. 35,781 274,082 #* Lululemon Athletica, Inc. 18,766 1,295,792 #* Lumber Liquidators Holdings, Inc. 34,916 3,987,058 #* M/I Homes, Inc. 36,568 748,547 # Mac-Gray Corp. 19,027 401,089 Macy's, Inc. 276,516 12,750,153 * Madison Square Garden Co. (The) Class A 109,895 6,650,845 Marcus Corp. 30,027 431,188 Marine Products Corp. 47,094 441,271 * MarineMax, Inc. 38,104 561,272 Marriott International, Inc. Class A 65,254 2,941,650 * Marriott Vacations Worldwide Corp. 14,520 727,162 * Martha Stewart Living Omnimedia Class A 60,321 154,422 Mattel, Inc. 125,420 5,564,885 # Matthews International Corp. Class A 42,640 1,731,184 #* McClatchy Co. (The) Class A 97,918 276,129 McDonald's Corp. 93,700 9,043,924 # MDC Holdings, Inc. 81,138 2,368,418 #* Media General, Inc. Class A 37,031 539,912 Men's Wearhouse, Inc. (The) 81,646 3,453,626 # Meredith Corp. 56,139 2,879,931 * Meritage Homes Corp. 60,328 2,738,288 #* MGM Resorts International 514,099 9,788,445 * Michael Kors Holdings, Ltd. 25,080 1,929,906 * Modine Manufacturing Co. 83,592 1,113,445 * Mohawk Industries, Inc. 97,755 12,944,717 * Monarch Casino & Resort, Inc. 27,593 466,598 # Monro Muffler Brake, Inc. 46,126 2,121,796 # Morningstar, Inc. 20,040 1,609,012 * Motorcar Parts of America, Inc. 18,334 250,809 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Consumer Discretionary -- (Continued) Movado Group, Inc. 33,112 $ 1,544,013 * MTR Gaming Group, Inc. 26,957 140,176 * Multimedia Games Holding Co., Inc. 25,419 826,372 * Murphy USA, Inc. 51,294 2,081,511 NACCO Industries, Inc. Class A 10,535 600,179 * Nathan's Famous, Inc. 7,706 395,472 National CineMedia, Inc. 65,180 1,141,954 #* Nautilus, Inc. 53,207 423,528 * Netflix, Inc. 20,041 6,462,822 #* Nevada Gold & Casinos, Inc. 1,100 1,155 * New York & Co., Inc. 111,142 569,047 # New York Times Co. (The) Class A 263,440 3,643,375 Newell Rubbermaid, Inc. 92,609 2,744,005 * News Corp. Class A 211,583 3,723,861 * News Corp. Class B 76,452 1,370,784 # Nexstar Broadcasting Group, Inc. Class A 25,651 1,138,648 NIKE, Inc. Class B 79,134 5,995,192 * Nobility Homes, Inc. 2,557 23,652 # Nordstrom, Inc. 42,272 2,556,188 # Nutrisystem, Inc. 42,029 790,145 * NVR, Inc. 6,499 5,961,663 * O'Reilly Automotive, Inc. 73,392 9,086,664 * Office Depot, Inc. 444,152 2,482,810 OfficeMax, Inc. 134,321 2,012,129 Omnicom Group, Inc. 47,482 3,233,999 * Orbitz Worldwide, Inc. 89,814 829,881 * Orient-Express Hotels, Ltd. Class A 157,124 2,091,320 #* Outerwall, Inc. 48,358 3,142,303 * Overstock.com, Inc. 21,548 504,870 # Oxford Industries, Inc. 24,128 1,731,667 #* P&F Industries, Inc. Class A 2,869 22,149 #* Pacific Sunwear of California, Inc. 84,041 226,070 * Panera Bread Co. Class A 19,844 3,133,764 Papa John's International, Inc. 29,488 2,231,357 #* Penn National Gaming, Inc. 132,904 7,776,213 Penske Automotive Group, Inc. 152,729 6,051,123 * Pep Boys-Manny Moe & Jack (The) 87,677 1,134,540 * Perfumania Holdings, Inc. 6,982 32,466 Perry Ellis International, Inc. 25,247 479,945 # PetMed Express, Inc. 32,127 476,765 # PetSmart, Inc. 31,473 2,289,975 # Pier 1 Imports, Inc. 139,418 2,911,048 * Pinnacle Entertainment, Inc. 76,630 1,793,142 * Point.360 6,026 4,664 # Polaris Industries, Inc. 22,161 2,901,983 Pool Corp. 56,154 3,053,655 #* Premier Exhibitions, Inc. 6,900 9,246 * priceline.com, Inc. 4,200 4,426,086 PulteGroup, Inc. 570,771 10,074,108 PVH Corp. 71,941 8,961,690 * QEP Co., Inc. 670 13,233 #* Quiksilver, Inc. 280,118 2,330,582 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Consumer Discretionary -- (Continued) #* Radio One, Inc. Class D 33,982 $ 101,946 #* RadioShack Corp. 143,336 402,774 Ralph Lauren Corp. 12,900 2,136,756 * Reading International, Inc. Class A 14,293 94,620 * Reading International, Inc. Class B 300 2,516 * Red Lion Hotels Corp. 26,248 158,013 * Red Robin Gourmet Burgers, Inc. 25,039 1,907,471 # Regal Entertainment Group Class A 110,822 2,106,726 # Regis Corp. 93,341 1,353,445 # Rent-A-Center, Inc. 96,937 3,319,123 #* Rentrak Corp. 11,567 433,647 # RG Barry Corp. 21,060 401,825 #* Rick's Cabaret International, Inc. 13,809 155,904 Rocky Brands, Inc. 8,403 127,389 Ross Stores, Inc. 78,845 6,098,661 Royal Caribbean Cruises, Ltd. 237,748 9,994,926 * Ruby Tuesday, Inc. 104,938 622,282 Ruth's Hospitality Group, Inc. 61,943 755,085 # Ryland Group, Inc. (The) 69,112 2,778,302 Saga Communications, Inc. Class A 5,094 242,525 #* Saks, Inc. 243,217 3,889,040 Salem Communications Corp. Class A 21,782 179,919 * Sally Beauty Holdings, Inc. 101,280 2,665,690 # Scholastic Corp. 38,702 1,110,360 * Scientific Games Corp. Class A 141,786 2,591,848 Scripps Networks Interactive, Inc. Class A 29,755 2,395,277 #* Sears Holdings Corp. 68,597 3,984,114 #* Select Comfort Corp. 45,800 839,056 Service Corp. International/US 368,150 6,630,381 * SHFL Entertainment, Inc. 93,688 2,171,688 Shiloh Industries, Inc. 24,348 399,794 Shoe Carnival, Inc. 33,863 880,099 #* Shutterfly, Inc. 66,133 3,249,776 # Signet Jewelers, Ltd. 125,728 9,386,852 # Sinclair Broadcast Group, Inc. Class A 41,284 1,323,565 Six Flags Entertainment Corp. 147,364 5,542,360 * Skechers U.S.A., Inc. Class A 63,932 1,862,978 #* Skyline Corp. 10,884 47,563 #* Smith & Wesson Holding Corp. 28,380 305,936 # Sonic Automotive, Inc. Class A 73,765 1,643,484 * Sonic Corp. 43,011 830,112 Sotheby's 89,578 4,649,098 * Spanish Broadcasting System, Inc. Class A 2,346 9,290 Spartan Motors, Inc. 47,982 325,798 Speedway Motorsports, Inc. 60,411 1,103,105 * Sport Chalet, Inc. Class A 9,608 11,049 * Sport Chalet, Inc. Class B 1,292 1,673 # Stage Stores, Inc. 50,669 1,046,315 # Standard Motor Products, Inc. 39,019 1,410,927 #* Standard Pacific Corp. 394,219 3,126,157 * Stanley Furniture Co., Inc. 15,342 59,680 # Staples, Inc. 422,267 6,806,944 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Consumer Discretionary -- (Continued) Starbucks Corp. 67,563 $ 5,475,981 Starwood Hotels & Resorts Worldwide, Inc. 29,703 2,186,735 * Starz - Liberty Capital Class A 152,168 4,587,865 * Starz - Liberty Capital Class B 5,224 157,869 # Stein Mart, Inc. 66,806 986,725 * Steiner Leisure, Ltd. 23,401 1,310,924 * Steven Madden, Ltd. 87,812 3,220,926 Stewart Enterprises, Inc. Class A 114,611 1,514,011 * Stoneridge, Inc. 48,856 623,403 Strattec Security Corp. 4,792 194,172 Strayer Education, Inc. 7,822 309,204 # Sturm Ruger & Co., Inc. 24,927 1,630,475 # Superior Industries International, Inc. 42,144 790,200 # Superior Uniform Group, Inc. 12,533 189,248 Systemax, Inc. 51,897 493,022 #* Tandy Leather Factory, Inc. 7,929 65,811 Target Corp. 146,665 9,502,425 #* Tempur-Pedic International, Inc. 18,061 692,639 * Tenneco, Inc. 37,500 1,990,125 #* Tesla Motors, Inc. 32,845 5,253,229 Texas Roadhouse, Inc. 120,981 3,317,299 # Thor Industries, Inc. 88,137 5,112,827 Tiffany & Co. 42,344 3,352,374 Time Warner Cable, Inc. 161,177 19,365,417 Time Warner, Inc. 517,336 35,561,677 TJX Cos., Inc. 74,256 4,514,022 * Toll Brothers, Inc. 244,751 8,047,413 * Tower International, Inc. 385 8,170 Town Sports International Holdings, Inc. 26,956 348,272 Tractor Supply Co. 112,892 8,054,844 Trans World Entertainment Corp. 1,798 7,785 #* Trinity Place Holdings, Inc. 10,474 52,894 #* TripAdvisor, Inc. 53,030 4,386,111 * TRW Automotive Holdings Corp. 116,619 8,759,253 #* Tuesday Morning Corp. 75,510 1,068,467 Tupperware Brands Corp. 28,324 2,539,247 Twenty-First Century Fox, Inc. Class A 846,333 28,843,029 Twenty-First Century Fox, Inc. Class B 305,808 10,397,472 * Ulta Salon Cosmetics & Fragrance, Inc. 39,676 5,112,253 #* Under Armour, Inc. Class A 21,600 1,752,840 * Unifi, Inc. 29,133 710,554 * Universal Electronics, Inc. 23,343 908,276 Universal Technical Institute, Inc. 35,790 475,649 #* UQM Technologies, Inc. 21,417 33,196 * Urban Outfitters, Inc. 31,700 1,200,796 * US Auto Parts Network, Inc. 39,333 70,013 # Vail Resorts, Inc. 60,667 4,273,990 # Valassis Communications, Inc. 67,600 1,849,536 # Value Line, Inc. 7,363 68,697 * Valuevision Media, Inc. Class A 82,152 438,692 VF Corp. 37,138 7,984,670 Viacom, Inc. Class A 9,434 788,211 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- -------------- Consumer Discretionary -- (Continued) Viacom, Inc. Class B 120,573 $ 10,042,525 * Visteon Corp. 82,031 6,323,770 * Vitacost.com, Inc. 8,179 64,696 #* Vitamin Shoppe, Inc. 37,056 1,738,297 #* VOXX International Corp. 33,932 526,285 Walking Co. Holdings, Inc. (The) 329 2,961 Walt Disney Co. (The) 830,524 56,965,641 Washington Post Co. (The) Class B 11,115 7,150,502 Weight Watchers International, Inc. 34,160 1,096,878 #* Wells-Gardner Electronics Corp. 4,482 7,530 # Wendy's Co. (The) 663,290 5,763,990 * West Marine, Inc. 33,252 406,007 #* Wet Seal, Inc. (The) Class A 145,614 481,982 Weyco Group, Inc. 12,731 365,762 Whirlpool Corp. 69,189 10,102,286 # Williams-Sonoma, Inc. 76,155 3,993,568 # Winmark Corp. 4,323 316,487 * Winnebago Industries, Inc. 47,064 1,395,918 # Wolverine World Wide, Inc. 58,972 3,405,043 # World Wrestling Entertainment, Inc. Class A 44,601 577,583 Wyndham Worldwide Corp. 180,614 11,992,770 # Wynn Resorts, Ltd. 19,658 3,268,142 Yum! Brands, Inc. 41,894 2,832,872 #* Zagg, Inc. 35,013 165,962 * Zale Corp. 50,207 784,735 #* Zumiez, Inc. 53,311 1,580,138 -------------- Total Consumer Discretionary 1,414,873,767 -------------- Consumer Staples -- (5.4%) # Alico, Inc. 10,664 426,133 * Alliance One International, Inc. 138,442 411,173 Altria Group, Inc. 380,680 14,172,716 # Andersons, Inc. (The) 31,049 2,303,215 Archer-Daniels-Midland Co. 334,396 13,676,796 Arden Group, Inc. Class A 2,456 319,280 Avon Products, Inc. 68,745 1,203,038 # B&G Foods, Inc. 70,721 2,393,906 Beam, Inc. 152,865 10,287,815 #* Boston Beer Co., Inc. (The) Class A 3,133 719,305 #* Boulder Brands, Inc. 99,079 1,623,905 Bridgford Foods Corp. 7,329 73,950 Brown-Forman Corp. Class A 20,355 1,467,188 # Brown-Forman Corp. Class B 26,010 1,898,210 Bunge, Ltd. 155,361 12,759,799 # Cal-Maine Foods, Inc. 35,592 1,805,582 # Calavo Growers, Inc. 24,739 734,501 # Campbell Soup Co. 45,434 1,934,125 Casey's General Stores, Inc. 62,732 4,571,908 # CCA Industries, Inc. 5,962 18,423 * Central Garden and Pet Co. 26,310 199,693 #* Central Garden and Pet Co. Class A 60,553 445,670 * Chiquita Brands International, Inc. 86,616 896,476 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Consumer Staples -- (Continued) Church & Dwight Co., Inc. 89,322 $ 5,819,328 # Clorox Co. (The) 18,397 1,659,225 Coca-Cola Bottling Co. Consolidated 11,216 710,197 Coca-Cola Co. (The) 439,242 17,380,806 Coca-Cola Enterprises, Inc. 219,366 9,154,143 # Coffee Holding Co., Inc. 5,400 28,836 Colgate-Palmolive Co. 77,376 5,008,548 ConAgra Foods, Inc. 300,325 9,553,338 * Constellation Brands, Inc. Class A 209,075 13,652,598 * Constellation Brands, Inc. Class B 5,400 346,167 Costco Wholesale Corp. 80,555 9,505,490 * Craft Brew Alliance, Inc. 24,356 395,054 #* Crimson Wine Group, Ltd. 24,913 217,989 * Crystal Rock Holdings, Inc. 200 174 CVS Caremark Corp. 672,828 41,890,271 * Darling International, Inc. 198,256 4,613,417 * Dean Foods Co. 165,578 3,228,771 #* Diamond Foods, Inc. 29,698 724,928 #* Dole Food Co., Inc. 140,856 1,908,599 Dr Pepper Snapple Group, Inc. 128,357 6,077,704 * Elizabeth Arden, Inc. 48,020 1,737,844 Energizer Holdings, Inc. 47,928 4,702,216 Estee Lauder Cos., Inc. (The) Class A 37,796 2,682,004 * Farmer Bros Co. 22,748 410,829 Flowers Foods, Inc. 177,571 4,499,649 Fresh Del Monte Produce, Inc. 96,955 2,578,033 #* Fresh Market, Inc. (The) 1,503 76,518 General Mills, Inc. 108,088 5,449,797 Golden Enterprises, Inc. 9,888 41,431 #* Green Mountain Coffee Roasters, Inc. 62,576 3,930,399 # Griffin Land & Nurseries, Inc. 6,027 198,891 #* Hain Celestial Group, Inc. (The) 66,335 5,521,062 #* Harbinger Group, Inc. 8,503 92,598 Harris Teeter Supermarkets, Inc. 82,335 4,060,762 # Herbalife, Ltd. 44,162 2,862,581 Hershey Co. (The) 16,300 1,617,612 Hillshire Brands Co. 40,460 1,328,302 Hormel Foods Corp. 129,444 5,625,636 * IGI Laboratories, Inc. 647 1,417 # Ingles Markets, Inc. Class A 22,282 575,098 Ingredion, Inc. 107,338 7,058,547 Inter Parfums, Inc. 50,912 1,790,066 #* Inventure Foods, Inc. 8,519 95,924 J&J Snack Foods Corp. 31,611 2,704,953 JM Smucker Co. (The) 102,584 11,408,367 John B Sanfilippo & Son, Inc. 8,216 201,949 Kellogg Co. 30,401 1,922,863 Kimberly-Clark Corp. 43,048 4,649,184 Kraft Foods Group, Inc. 291,931 15,875,208 Kroger Co. (The) 214,162 9,174,700 # Lancaster Colony Corp. 36,595 3,037,019 # Lifeway Foods, Inc. 8,037 117,581 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Consumer Staples -- (Continued) # Limoneira Co. 2,051 $ 54,023 Lorillard, Inc. 55,079 2,809,580 * Mannatech, Inc. 2,000 47,180 McCormick & Co., Inc.(579780107) 3,330 226,673 # McCormick & Co., Inc.(579780206) 22,414 1,549,928 Mead Johnson Nutrition Co. 24,949 2,037,335 #* Medifast, Inc. 24,365 567,948 MGP Ingredients, Inc. 20,250 107,123 Molson Coors Brewing Co. Class A 1,020 56,197 Molson Coors Brewing Co. Class B 164,040 8,858,160 Mondelez International, Inc. Class A 920,693 30,972,113 * Monster Beverage Corp. 37,800 2,163,294 Nash Finch Co. 18,070 507,044 National Beverage Corp. 50,259 920,242 #* Natural Alternatives International, Inc. 7,028 42,941 # Nature's Sunshine Products, Inc. 400 7,556 Nu Skin Enterprises, Inc. Class A 62,985 7,364,836 Nutraceutical International Corp. 14,920 358,826 Oil-Dri Corp. of America 10,212 362,424 #* Omega Protein Corp. 31,549 295,299 # Orchids Paper Products Co. 5,292 161,406 * Pantry, Inc. (The) 35,589 476,537 PepsiCo, Inc. 188,490 15,850,124 Philip Morris International, Inc. 186,642 16,633,535 * Pilgrim's Pride Corp. 253,171 3,587,433 * Post Holdings, Inc. 54,384 2,335,793 * Prestige Brands Holdings, Inc. 90,105 2,813,979 # Pricesmart, Inc. 29,831 3,394,470 Procter & Gamble Co. (The) 646,219 52,182,184 # Reliv International, Inc. 8,132 20,574 * Revlon, Inc. Class A 43,675 1,037,281 Reynolds American, Inc. 85,900 4,412,683 * Rite Aid Corp. 654,011 3,485,879 Rocky Mountain Chocolate Factory, Inc. 10,758 136,411 # Safeway, Inc. 240,783 8,403,327 Sanderson Farms, Inc. 38,876 2,457,352 Seaboard Corp. 1,240 3,385,200 * Seneca Foods Corp. Class A 13,971 409,630 * Seneca Foods Corp. Class B 1,999 58,971 # Snyders-Lance, Inc. 111,753 3,351,472 # Spartan Stores, Inc. 34,784 818,468 Spectrum Brands Holdings, Inc. 83,516 5,505,375 #* Susser Holdings Corp. 35,655 1,955,320 # Sysco Corp. 64,489 2,085,574 * Tofutti Brands, Inc. 1,645 4,606 # Tootsie Roll Industries, Inc. 60,027 1,920,864 #* TreeHouse Foods, Inc. 61,301 4,490,911 Tyson Foods, Inc. Class A 296,508 8,204,376 #* United Natural Foods, Inc. 67,665 4,834,664 United-Guardian, Inc. 4,655 117,353 # Universal Corp. 35,612 1,888,504 #* USANA Health Sciences, Inc. 22,158 1,511,840 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ --------- ------------ Consumer Staples -- (Continued) # Vector Group, Ltd. 82,431 $ 1,332,909 Village Super Market, Inc. Class A 10,894 399,374 Wal-Mart Stores, Inc. 387,774 29,761,655 Walgreen Co. 475,167 28,148,893 WD-40 Co. 21,425 1,553,098 Weis Markets, Inc. 40,839 2,089,732 * WhiteWave Foods Co. Class A 157,177 3,145,112 Whole Foods Market, Inc. 111,644 7,048,086 ------------ Total Consumer Staples 602,967,107 ------------ Energy -- (10.5%) #* Abraxas Petroleum Corp. 37,774 109,167 Adams Resources & Energy, Inc. 6,454 334,124 # Alon USA Energy, Inc. 94,311 1,139,277 #* Alpha Natural Resources, Inc. 354,561 2,481,927 Anadarko Petroleum Corp. 289,878 27,622,475 Apache Corp. 199,761 17,738,777 #* Approach Resources, Inc. 49,529 1,394,241 # Arch Coal, Inc. 334,373 1,417,742 * Atwood Oceanics, Inc. 110,382 5,864,596 Baker Hughes, Inc. 220,329 12,798,912 * Barnwell Industries, Inc. 10,714 38,035 #* Basic Energy Services, Inc. 68,017 997,809 Berry Petroleum Co. Class A 76,632 3,659,178 #* Bill Barrett Corp. 76,460 2,115,648 #* BioFuel Energy Corp. 586 2,016 #* Black Ridge Oil and Gas, Inc. 3,728 2,423 Bolt Technology Corp. 13,925 249,118 #* Bonanza Creek Energy, Inc. 70,953 3,585,965 #* BPZ Resources, Inc. 187,459 376,793 Bristow Group, Inc. 59,800 4,812,106 #* C&J Energy Services, Inc. 88,232 2,032,865 Cabot Oil & Gas Corp. 260,940 9,216,401 #* Cal Dive International, Inc. 136,372 268,653 * Callon Petroleum Co. 63,979 436,977 * Cameron International Corp. 107,036 5,871,995 # CARBO Ceramics, Inc. 30,729 3,851,573 #* Carrizo Oil & Gas, Inc. 71,998 3,156,392 * Cheniere Energy, Inc. 109,205 4,346,359 # Chesapeake Energy Corp. 617,817 17,274,163 Chevron Corp. 1,090,432 130,808,223 Cimarex Energy Co. 86,997 9,165,134 * Clayton Williams Energy, Inc. 18,098 1,408,567 #* Clean Energy Fuels Corp. 131,913 1,502,489 * Cloud Peak Energy, Inc. 95,478 1,490,412 * Cobalt International Energy, Inc. 30,619 710,667 # Comstock Resources, Inc. 79,403 1,358,585 * Concho Resources, Inc. 55,085 6,092,952 ConocoPhillips 648,630 47,544,579 CONSOL Energy, Inc. 135,371 4,941,041 Contango Oil & Gas Co. 28,859 1,236,606 #* Continental Resources, Inc. 8,245 939,105 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ --------- ------------ Energy -- (Continued) Crosstex Energy, Inc. 90,682 $ 2,783,031 * Dawson Geophysical Co. 13,291 388,629 Delek US Holdings, Inc. 94,246 2,407,985 * Denbury Resources, Inc. 393,926 7,480,655 Devon Energy Corp. 192,354 12,160,620 # DHT Holdings, Inc. 11,574 59,375 # Diamond Offshore Drilling, Inc. 75,303 4,663,515 #* Double Eagle Petroleum Co. 13,728 38,164 * Dresser-Rand Group, Inc. 58,960 3,582,999 * Dril-Quip, Inc. 49,886 5,857,614 * Emerald Oil, Inc. 94,125 818,887 #* Endeavour International Corp. 69,811 414,677 Energen Corp. 47,854 3,747,925 Energy XXI Bermuda, Ltd. 125,664 3,651,796 * ENGlobal Corp. 27,850 30,635 EOG Resources, Inc. 150,872 26,915,565 * EPL Oil & Gas, Inc. 66,082 2,106,694 EQT Corp. 33,734 2,887,968 * Era Group, Inc. 33,423 1,056,167 * Evolution Petroleum Corp. 23,938 288,692 * Exterran Holdings, Inc. 108,389 3,094,506 Exxon Mobil Corp. 2,490,947 223,238,670 * FieldPoint Petroleum Corp. 9,928 47,654 * FMC Technologies, Inc. 46,376 2,344,307 #* Forbes Energy Services, Ltd. 1,485 7,395 #* Forest Oil Corp. 12,975 61,502 #* FX Energy, Inc. 28,806 100,245 #* Gastar Exploration, Ltd. 55,807 241,086 #* Geospace Technologies Corp. 17,164 1,672,117 #* Gevo, Inc. 8,138 13,835 #* Global Geophysical Services, Inc. 58,034 138,701 * Goodrich Petroleum Corp. 524 12,256 # Green Plains Renewable Energy, Inc. 50,430 813,436 * Gulf Coast Ultra Deep Royalty Trust 203,138 491,594 Gulf Island Fabrication, Inc. 21,994 554,689 Gulfmark Offshore, Inc. Class A 47,345 2,356,834 * Gulfport Energy Corp. 103,910 6,098,478 #* Halcon Resources Corp. 85,916 445,045 Halliburton Co. 117,429 6,227,260 #* Harvest Natural Resources, Inc. 65,844 329,220 * Helix Energy Solutions Group, Inc. 177,835 4,207,576 Helmerich & Payne, Inc. 108,956 8,449,538 * Hercules Offshore, Inc. 251,482 1,710,078 Hess Corp. 156,493 12,707,232 * HKN, Inc. 278 20,711 HollyFrontier Corp. 233,319 10,746,673 * Hornbeck Offshore Services, Inc. 58,368 3,225,999 #* ION Geophysical Corp. 258,401 1,198,981 #* James River Coal Co. 49,177 94,420 * Key Energy Services, Inc. 237,776 1,859,408 Kinder Morgan, Inc. 220,515 7,786,385 Knightsbridge Tankers, Ltd. 14,984 123,468 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Energy -- (Continued) #* Kodiak Oil & Gas Corp. 350,234 $ 4,542,535 * Laredo Petroleum Holdings, Inc. 8,906 282,944 #* Lone Pine Resources, Inc. 39,821 916 #* Lucas Energy, Inc. 22,519 24,996 #* Magnum Hunter Resources Corp. 222,311 1,585,077 Marathon Oil Corp. 362,290 12,774,345 Marathon Petroleum Corp. 188,287 13,492,646 * Matador Resources Co. 107,930 1,986,991 * Matrix Service Co. 46,064 957,671 #* McDermott International, Inc. 345,195 2,440,529 * Mexco Energy Corp. 2,059 13,528 * Mitcham Industries, Inc. 18,174 302,415 Murphy Oil Corp. 111,706 6,738,106 Nabors Industries, Ltd. 491,899 8,598,395 National Oilwell Varco, Inc. 223,886 18,175,065 * Natural Gas Services Group, Inc. 19,119 535,141 * Newfield Exploration Co. 223,021 6,790,989 #* Newpark Resources, Inc. 147,888 1,885,572 Noble Corp. 267,780 10,095,306 Noble Energy, Inc. 202,440 15,168,829 # Nordic American Tankers, Ltd. 9,013 73,546 #* Northern Oil and Gas, Inc. 94,240 1,548,363 #* Nuverra Environmental Solutions, Inc. 400,571 977,393 * Oasis Petroleum, Inc. 48,790 2,598,067 Occidental Petroleum Corp. 454,609 43,678,833 Oceaneering International, Inc. 55,284 4,747,790 * Oil States International, Inc. 85,471 9,284,715 #* Overseas Shipholding Group, Inc. 43,852 151,289 # Panhandle Oil and Gas, Inc. Class A 12,506 419,826 * Parker Drilling Co. 209,942 1,511,582 Patterson-UTI Energy, Inc. 244,669 5,935,670 * PDC Energy, Inc. 60,896 4,129,358 Peabody Energy Corp. 266,878 5,198,783 * Penn Virginia Corp. 110,638 941,529 #* PetroQuest Energy, Inc. 99,733 470,740 #* PHI, Inc.(69336T106) 2,686 101,047 * PHI, Inc.(69336T205) 20,171 803,209 Phillips 66 330,183 21,273,691 * Pioneer Energy Services Corp. 103,030 865,452 Pioneer Natural Resources Co. 92,820 19,007,680 * PostRock Energy Corp. 1,400 2,044 * Pyramid Oil Co. 3,900 20,670 QEP Resources, Inc. 154,802 5,117,754 Range Resources Corp. 72,807 5,512,218 #* Renewable Energy Group, Inc. 28,187 307,520 # Rentech, Inc. 296,041 506,230 * REX American Resources Corp. 19,000 547,960 * Rex Energy Corp. 94,391 2,029,406 #* RigNet, Inc. 3,933 144,970 #* Rosetta Resources, Inc. 65,014 3,896,939 * Rowan Cos. P.L.C. Class A 213,616 7,707,265 #* Royale Energy, Inc. 3,300 8,877 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- -------------- Energy -- (Continued) # RPC, Inc. 237,456 $ 4,354,943 #* SandRidge Energy, Inc. 843,093 5,345,210 Schlumberger, Ltd. 239,817 22,475,649 Scorpio Tankers, Inc. 5,883 67,890 # SEACOR Holdings, Inc. 35,196 3,442,169 SemGroup Corp. Class A 71,694 4,329,601 # Ship Finance International, Ltd. 133,320 2,206,446 # SM Energy Co. 106,519 9,438,649 * Southwestern Energy Co. 224,517 8,356,523 Spectra Energy Corp. 102,350 3,640,589 * Steel Excel, Inc. 15,552 431,568 * Stone Energy Corp. 83,640 2,915,690 * Superior Energy Services, Inc. 273,559 7,339,588 #* Swift Energy Co. 62,421 856,416 * Synergy Resources Corp. 98,883 1,024,428 Targa Resources Corp. 5,721 443,721 # Teekay Corp. 115,228 5,004,352 * Tesco Corp. 56,775 975,394 Tesoro Corp. 217,506 10,633,868 #* TETRA Technologies, Inc. 132,662 1,720,626 TGC Industries, Inc. 32,159 237,012 Tidewater, Inc. 83,088 5,003,559 # Transocean, Ltd. 176,122 8,290,063 * Triangle Petroleum Corp. 142,488 1,506,098 #* Ultra Petroleum Corp. 96,263 1,767,389 #* Unit Corp. 81,692 4,199,786 #* Uranium Energy Corp. 13,761 24,219 #* USEC, Inc. 5,782 46,603 #* Vaalco Energy, Inc. 91,841 484,002 Valero Energy Corp. 327,949 13,501,660 # W&T Offshore, Inc. 126,804 2,420,688 * Warren Resources, Inc. 107,751 337,261 #* Weatherford International, Ltd. 833,327 13,699,896 # Western Refining, Inc. 142,551 4,600,121 #* Westmoreland Coal Co. 9,348 132,835 * Whiting Petroleum Corp. 116,092 7,765,394 * Willbros Group, Inc. 82,347 803,707 Williams Cos., Inc. (The) 198,070 7,073,080 # World Fuel Services Corp. 115,825 4,418,724 #* WPX Energy, Inc. 344,344 7,623,776 #* Zion Oil & Gas, Inc. 29,867 48,982 -------------- Total Energy 1,157,055,546 -------------- Financials -- (18.2%) #* 1st Constitution Bancorp 3,197 32,290 # 1st Source Corp. 36,877 1,157,200 1st United Bancorp Inc/Boca Raton 39,952 305,233 # Access National Corp. 11,632 169,013 ACE, Ltd. 177,882 16,977,058 * Affiliated Managers Group, Inc. 43,142 8,517,956 Aflac, Inc. 235,879 15,327,417 * Alexander & Baldwin, Inc. 71,039 2,628,443 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Financials -- (Continued) * Alleghany Corp. 17,916 $ 7,263,505 Alliance Bancorp, Inc. of Pennsylvania 4,908 71,166 Allied World Assurance Co. Holdings AG 62,835 6,804,402 Allstate Corp. (The) 247,324 13,123,011 * Altisource Asset Management Corp. 1,977 1,264,647 * Altisource Portfolio Solutions SA 19,775 3,110,212 # Ameriana Bancorp 898 12,159 * American Capital, Ltd. 518,772 7,267,996 # American Equity Investment Life Holding Co. 97,336 2,028,482 American Express Co. 144,663 11,833,433 American Financial Group, Inc. 153,281 8,623,589 * American Independence Corp. 1,038 11,501 American International Group, Inc. 778,143 40,191,086 # American National Bankshares, Inc. 8,116 186,181 American National Insurance Co. 32,280 3,262,540 * American River Bankshares 7,316 63,503 * American Spectrum Realty, Inc. 1,280 2,624 Ameriprise Financial, Inc. 219,392 22,057,672 * Ameris Bancorp 37,468 685,664 AMERISAFE, Inc. 30,706 1,182,181 # AmeriServ Financial, Inc. 18,864 59,233 # Amtrust Financial Services, Inc. 127,185 4,878,817 Aon P.L.C. 154,392 12,210,863 #* Arch Capital Group, Ltd. 139,974 8,112,893 Argo Group International Holdings, Ltd. 49,201 2,065,458 # Arrow Financial Corp. 18,742 483,731 Arthur J Gallagher & Co. 93,055 4,415,460 Aspen Insurance Holdings, Ltd. 112,534 4,389,951 # Associated Banc-Corp. 277,747 4,516,166 Assurant, Inc. 137,241 8,025,854 Assured Guaranty, Ltd. 319,214 6,543,887 Asta Funding, Inc. 19,482 167,156 Astoria Financial Corp. 167,357 2,210,786 # Atlantic American Corp. 11,687 47,332 * Atlantic Coast Financial Corp. 1,723 6,720 #* Atlanticus Holdings Corp. 36,049 125,811 Auburn National BanCorp., Inc. 1,955 50,048 #* AV Homes, Inc. 16,627 317,576 Axis Capital Holdings, Ltd. 154,925 7,346,543 # Baldwin & Lyons, Inc. Class A 2,126 57,115 # Baldwin & Lyons, Inc. Class B 15,999 437,253 # Banc of California, Inc. 16,862 237,923 Bancfirst Corp. 26,767 1,487,442 Bancorp of New Jersey, Inc. 200 2,690 * Bancorp, Inc. 62,463 1,010,027 # BancorpSouth, Inc. 161,987 3,579,913 Bank Mutual Corp. 65,147 414,335 Bank of America Corp. 6,230,807 86,982,066 Bank of Commerce Holdings 8,161 44,886 # Bank of Hawaii Corp. 76,261 4,421,613 Bank of Kentucky Financial Corp. 5,476 157,764 Bank of New York Mellon Corp. (The) 611,569 19,447,894 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Financials -- (Continued) # Bank of the Ozarks, Inc. 60,754 $ 3,006,108 BankFinancial Corp. 27,930 259,470 BankUnited, Inc. 173,168 5,328,379 Banner Corp. 33,615 1,286,110 Bar Harbor Bankshares 5,080 191,719 BB&T Corp. 356,556 12,112,207 BBCN Bancorp, Inc. 134,925 2,000,938 #* BBX Capital Corp. Class A 2,975 39,240 BCB Bancorp, Inc. 9,933 109,859 * BCSB Bancorp, Inc. 1,647 41,916 * Beneficial Mutual Bancorp, Inc. 115,454 1,125,677 Berkshire Bancorp, Inc. 3,850 29,722 * Berkshire Hathaway, Inc. Class B 232,188 26,720,195 Berkshire Hills Bancorp, Inc. 40,482 1,027,028 BGC Partners, Inc. Class A 235,032 1,250,370 BlackRock, Inc. 73,022 21,965,748 #* BofI Holding, Inc. 22,709 1,372,078 BOK Financial Corp. 100,294 6,141,002 Boston Private Financial Holdings, Inc. 132,716 1,511,635 Bridge Bancorp, Inc. 6,184 142,789 #* Bridge Capital Holdings 11,048 194,334 Brookline Bancorp, Inc. 117,328 1,040,699 Brown & Brown, Inc. 253,575 8,096,650 Bryn Mawr Bank Corp. 21,466 598,043 C&F Financial Corp. 2,201 118,656 # Calamos Asset Management, Inc. Class A 34,076 334,626 # California First National Bancorp 8,102 144,621 * Camco Financial Corp. 4,832 29,958 Camden National Corp. 12,341 497,959 # Cape Bancorp, Inc. 6,875 63,319 * Capital Bank Financial Corp. Class A 3,547 78,814 #* Capital City Bank Group, Inc. 22,959 282,396 Capital One Financial Corp. 312,923 21,488,422 (d) Capital Properties, Inc. 1,260 1,260 Capital Properties, Inc. Class A 1,400 11,200 Capital Southwest Corp. 19,500 640,965 CapitalSource, Inc. 467,159 6,110,440 Capitol Federal Financial, Inc. 257,535 3,262,968 Cardinal Financial Corp. 51,210 844,965 * Carolina Bank Holdings, Inc. 1,200 12,108 # Cash America International, Inc. 47,008 1,854,466 Cathay General Bancorp 130,456 3,213,131 CBOE Holdings, Inc. 12,975 629,288 * CBRE Group, Inc. Class A 48,551 1,127,840 Center Bancorp, Inc. 22,668 339,113 # Centerstate Banks, Inc. 41,922 413,351 # Central Pacific Financial Corp. 15,152 279,100 Century Bancorp, Inc. Class A 3,952 128,440 CFS Bancorp, Inc. 2,552 31,874 Charles Schwab Corp. (The) 206,046 4,666,942 Charter Financial Corp. 4,056 43,967 Chemical Financial Corp. 46,310 1,356,420 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Financials -- (Continued) Chicopee Bancorp, Inc. 7,105 $ 124,693 Chubb Corp. (The) 145,404 13,388,800 Cincinnati Financial Corp. 174,747 8,737,350 * CIT Group, Inc. 221,250 10,655,400 Citigroup, Inc. 1,762,407 85,970,213 Citizens Community Bancorp, Inc. 5,940 45,322 Citizens Holding Co. 2,412 46,117 #* Citizens, Inc. 72,414 608,278 # City Holding Co. 26,028 1,184,274 # City National Corp. 92,950 6,702,624 # CKX Lands, Inc. 2,161 31,118 Clifton Savings Bancorp, Inc. 35,727 451,232 CME Group, Inc. 158,780 11,783,064 CNA Financial Corp. 219,972 8,928,663 CNB Financial Corp. 13,395 268,034 CNO Financial Group, Inc. 360,876 5,622,448 CoBiz Financial, Inc. 61,738 669,857 # Codorus Valley Bancorp, Inc. 3,129 65,709 # Cohen & Steers, Inc. 21,767 834,982 #* Colonial Financial Services, Inc. 2,537 35,518 * Colony Bankcorp, Inc. 3,512 21,493 Columbia Banking System, Inc. 82,547 2,120,632 Comerica, Inc. 199,974 8,658,874 Commerce Bancshares, Inc. 157,980 7,268,660 Commercial National Financial Corp. 2,306 48,426 # Community Bank System, Inc. 69,471 2,522,492 * Community Bankers Trust Corp. 1,768 6,595 # Community Trust Bancorp, Inc. 25,874 1,101,974 * Community West Bancshares 3,113 18,289 #* CommunityOne Bancorp. 122 1,313 # Consolidated-Tomoka Land Co. 8,114 304,437 * Consumer Portfolio Services, Inc. 25,693 172,657 * Cowen Group, Inc. Class A 163,233 648,035 # Crawford & Co. Class A 36,655 305,336 # Crawford & Co. Class B 39,704 436,347 * Credit Acceptance Corp. 28,720 3,397,576 # Cullen/Frost Bankers, Inc. 104,895 7,425,517 # CVB Financial Corp. 172,725 2,511,422 * DFC Global Corp. 65,826 796,495 # Diamond Hill Investment Group, Inc. 2,604 287,143 Dime Community Bancshares, Inc. 61,565 1,007,203 Discover Financial Services 238,701 12,383,808 Donegal Group, Inc. Class A 29,981 475,199 # Donegal Group, Inc. Class B 5,678 119,238 #* Doral Financial Corp. 339 5,729 #* E*TRADE Financial Corp. 494,741 8,366,070 Eagle Bancorp Montana, Inc. 751 8,238 East West Bancorp, Inc. 241,045 8,120,806 Eastern Insurance Holdings, Inc. 10,923 266,958 #* Eastern Virginia Bankshares, Inc. 3,292 19,851 # Eaton Vance Corp. 42,432 1,774,082 * eHealth, Inc. 32,294 1,376,370 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Financials -- (Continued) EMC Insurance Group, Inc. 18,772 $ 638,999 Employers Holdings, Inc. 52,920 1,591,304 #* Encore Capital Group, Inc. 42,365 2,069,530 Endurance Specialty Holdings, Ltd. 77,272 4,272,369 * Enstar Group, Ltd. 23,735 3,226,299 # Enterprise Bancorp, Inc. 8,838 172,695 Enterprise Financial Services Corp. 26,367 475,397 Erie Indemnity Co. Class A 44,654 3,207,050 # ESB Financial Corp. 20,940 278,711 ESSA Bancorp, Inc. 21,343 233,919 Evans Bancorp, Inc. 2,684 54,284 Evercore Partners, Inc. Class A 44,075 2,224,465 Everest Re Group, Ltd. 57,189 8,792,237 * Ezcorp, Inc. Class A 84,046 1,322,044 * Farmers Capital Bank Corp. 6,545 134,434 FBL Financial Group, Inc. Class A 44,583 1,994,643 Federal Agricultural Mortgage Corp. Class A 1,506 44,088 Federal Agricultural Mortgage Corp. Class C 14,912 532,209 # Federated Investors, Inc. Class B 61,483 1,667,419 Federated National Holding Co. Class C 6,646 68,122 Fidelity National Financial, Inc. Class A 327,791 9,227,317 # Fidelity Southern Corp. 9,866 150,650 Fifth Third Bancorp 917,495 17,459,930 # Financial Engines, Inc. 7,048 393,772 Financial Institutions, Inc. 20,307 480,667 * First Acceptance Corp. 34,466 58,592 # First American Financial Corp. 175,006 4,525,655 #* First BanCorp 48,679 270,168 # First Bancorp 25,704 385,046 First Bancorp of Indiana, Inc. 700 9,660 First Bancorp, Inc. 12,744 221,873 * First Bancshares, Inc.(318687100) 569 4,837 First Bancshares, Inc.(318916103) 588 8,732 First Busey Corp. 145,219 750,782 # First Business Financial Services, Inc. 2,063 72,659 * First Cash Financial Services, Inc. 40,969 2,478,215 First Citizens BancShares, Inc. Class A 12,723 2,693,841 # First Commonwealth Financial Corp. 167,614 1,456,566 First Community Bancshares, Inc. 28,521 476,015 First Defiance Financial Corp. 12,893 332,897 * First Federal Bancshares of Arkansas, Inc. 5,920 53,162 First Federal of Northern Michigan Bancorp, Inc. 1,458 6,911 First Financial Bancorp 94,558 1,467,540 # First Financial Bankshares, Inc. 50,166 3,085,711 First Financial Corp. 21,762 751,659 First Financial Holdings, Inc. 41,778 2,503,756 # First Financial Northwest, Inc. 21,460 232,626 * First Financial Service Corp. 1,956 9,702 # First Horizon National Corp. 405,160 4,314,954 First Interstate Bancsystem, Inc. 30,496 765,755 #* First Marblehead Corp. (The) 115,568 110,945 First Merchants Corp. 48,175 905,690 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Financials -- (Continued) First Midwest Bancorp, Inc. 127,458 $ 2,119,627 First Niagara Financial Group, Inc. 593,194 6,542,930 * First Place Financial Corp. 23,310 47 First Republic Bank 27,620 1,410,553 #* First South Bancorp, Inc. 10,177 68,797 * First United Corp. 5,415 44,403 # First West Virginia Bancorp 752 12,325 Firstbank Corp. 6,355 124,494 # FirstMerit Corp. 282,547 6,346,006 #* Flagstar Bancorp, Inc. 54,314 880,430 Flushing Financial Corp. 51,375 1,032,124 # FNB Corp. 252,835 3,162,966 * Forest City Enterprises, Inc. Class A 299,587 6,069,633 * Forest City Enterprises, Inc. Class B 13,338 271,028 * Forestar Group, Inc. 57,977 1,294,626 #* Fortegra Financial Corp. 1,154 8,505 Fox Chase Bancorp, Inc. 26,803 462,888 Franklin Financial Corp. 1,219 23,003 Franklin Resources, Inc. 73,653 3,966,951 Fulton Financial Corp. 337,555 4,121,547 FXCM, Inc. Class A 12,706 208,251 Gain Capital Holdings, Inc. 21,199 221,954 GAINSCO, Inc. 1,100 9,290 GAMCO Investors, Inc. Class A 8,812 630,146 * Genworth Financial, Inc. Class A 663,329 9,638,170 # German American Bancorp, Inc. 18,170 493,861 GFI Group, Inc. 186,276 646,378 # Glacier Bancorp, Inc. 122,344 3,380,365 #* Gleacher & Co., Inc. 4,182 55,119 * Global Indemnity P.L.C. 25,376 625,011 Goldman Sachs Group, Inc. (The) 240,919 38,754,230 Gouverneur Bancorp, Inc. 600 6,156 Great Southern Bancorp, Inc. 20,689 580,947 #* Green Dot Corp. Class A 56,442 1,211,245 Greenhill & Co., Inc. 24,565 1,260,185 #* Greenlight Capital Re, Ltd. Class A 51,081 1,572,784 Guaranty Bancorp 5,874 79,299 #* Guaranty Federal Bancshares, Inc. 1,840 20,728 #* Hallmark Financial Services, Inc. 25,575 217,643 Hampden Bancorp, Inc. 4,784 82,285 * Hampton Roads Bankshares, Inc. 912 1,286 Hancock Holding Co. 142,736 4,678,886 Hanmi Financial Corp. 55,540 970,839 Hanover Insurance Group, Inc. (The) 74,750 4,375,865 Harleysville Savings Financial Corp. 3,569 65,491 #* Harris & Harris Group, Inc. 39,920 124,950 Hartford Financial Services Group, Inc. 519,292 17,500,140 Hawthorn Bancshares, Inc. 2,685 37,080 HCC Insurance Holdings, Inc. 172,273 7,864,262 # HCI Group, Inc. 20,082 882,403 # Heartland Financial USA, Inc. 28,015 742,117 Heritage Commerce Corp. 36,457 284,000 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ --------- ------------ Financials -- (Continued) Heritage Financial Corp. 23,199 $ 374,200 Heritage Financial Group, Inc. 9,512 163,416 HF Financial Corp. 5,606 74,728 HFF, Inc. Class A 54,093 1,327,983 * Hilltop Holdings, Inc. 133,793 2,319,971 # Hingham Institution for Savings 1,548 112,571 * HMN Financial, Inc. 2,615 22,515 * Home Bancorp, Inc. 8,770 159,351 # Home BancShares, Inc. 94,357 3,196,815 Home Federal Bancorp, Inc. 22,353 348,483 HopFed Bancorp, Inc. 3,213 34,861 Horace Mann Educators Corp. 61,432 1,701,666 # Horizon Bancorp 4,783 103,839 * Howard Hughes Corp. (The) 68,053 7,965,604 Hudson City Bancorp, Inc. 798,053 7,166,516 # Hudson Valley Holding Corp. 25,014 462,509 Huntington Bancshares, Inc. 889,026 7,823,429 Iberiabank Corp. 49,594 2,897,777 * ICG Group, Inc. 60,300 983,493 * Imperial Holdings, Inc. 1,691 9,909 Independence Holding Co. 18,425 252,791 # Independent Bank Corp.(453836108) 36,027 1,292,649 * Independent Bank Corp.(453838609) 8,213 79,830 Infinity Property & Casualty Corp. 19,978 1,370,091 Interactive Brokers Group, Inc. Class A 83,048 1,713,280 #* IntercontinentalExchange, Inc. 47,289 9,114,009 * InterGroup Corp. (The) 677 13,472 International Bancshares Corp. 111,398 2,545,444 #* Intervest Bancshares Corp. Class A 23,302 169,872 #* INTL. FCStone, Inc. 27,478 562,200 Invesco, Ltd. 451,532 15,239,205 * Investment Technology Group, Inc. 51,038 817,629 # Investors Bancorp, Inc. 194,062 4,601,210 * Investors Capital Holdings, Ltd. 5,019 35,334 Investors Title Co. 2,281 178,237 * Jacksonville Bancorp, Inc. 22 230 # Janus Capital Group, Inc. 299,466 2,955,729 * Jefferson Bancshares, Inc. 2,704 17,170 JMP Group, Inc. 30,003 192,319 Jones Lang LaSalle, Inc. 68,985 6,567,372 JPMorgan Chase & Co. 2,206,428 113,719,299 * KCG Holdings, Inc. Class A 14,443 126,232 #* Kearny Financial Corp. 96,018 1,008,189 Kemper Corp. 95,465 3,534,114 Kennedy-Wilson Holdings, Inc. 107,424 2,152,777 # Kentucky First Federal Bancorp 3,283 26,559 KeyCorp 979,536 12,273,586 Lake Shore Bancorp, Inc. 449 5,410 # Lakeland Bancorp, Inc. 51,188 583,543 Lakeland Financial Corp. 26,015 925,874 Landmark Bancorp, Inc. 2,307 46,394 Lazard, Ltd. Class A 6,983 269,893 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Financials -- (Continued) # Legg Mason, Inc. 222,398 $ 8,555,651 Leucadia National Corp. 498,666 14,132,194 Life Partners Holdings, Inc. 19,377 39,142 Lincoln National Corp. 296,482 13,463,248 LNB Bancorp, Inc. 13,999 136,210 Loews Corp. 183,672 8,873,194 #* Louisiana Bancorp, Inc. 3,600 64,422 LPL Financial Holdings, Inc. 131,003 5,337,062 LSB Financial Corp. 837 23,863 # M&T Bank Corp. 135,141 15,207,417 * Macatawa Bank Corp. 39,247 192,703 * Magyar Bancorp, Inc. 2,122 15,544 # Maiden Holdings, Ltd. 121,055 1,325,552 MainSource Financial Group, Inc. 29,780 483,032 #* Malvern Bancorp, Inc. 694 8,432 Manning & Napier, Inc. 2,218 36,819 * Markel Corp. 18,847 9,982,690 MarketAxess Holdings, Inc. 44,173 2,881,405 Marlin Business Services Corp. 20,132 555,039 Marsh & McLennan Cos., Inc. 132,000 6,045,600 #* Maui Land & Pineapple Co., Inc. 7,073 30,131 Mayflower Bancorp, Inc. 768 14,930 MB Financial, Inc. 94,050 2,793,285 * MBIA, Inc. 370,356 4,210,948 #* MBT Financial Corp. 12,903 49,548 MCG Capital Corp. 113,797 535,984 McGraw-Hill Cos., Inc. (The) 27,929 1,946,093 # Meadowbrook Insurance Group, Inc. 75,195 499,295 Medallion Financial Corp. 36,699 557,091 Mercantile Bank Corp. 10,417 227,507 Merchants Bancshares, Inc. 9,216 276,296 Mercury General Corp. 92,544 4,308,849 #* Meridian Interstate Bancorp, Inc. 28,404 674,311 # Meta Financial Group, Inc. 3,022 112,479 MetLife, Inc. 512,756 24,258,486 * Metro Bancorp, Inc. 20,331 433,864 MetroCorp Bancshares, Inc. 11,058 158,461 #* MGIC Investment Corp. 277,958 2,262,578 MicroFinancial, Inc. 16,382 140,721 Mid Penn Bancorp, Inc. 1,624 19,602 MidSouth Bancorp, Inc. 12,123 184,027 # MidWestOne Financial Group, Inc. 7,672 202,694 Montpelier Re Holdings, Ltd. 100,596 2,777,456 Moody's Corp. 48,188 3,404,964 Morgan Stanley 786,023 22,582,441 * MSB Financial Corp. 1,360 10,336 #* MSCI, Inc. 152,428 6,214,490 MutualFirst Financial, Inc. 6,697 113,849 NASDAQ OMX Group, Inc. (The) 259,253 9,185,334 # National Interstate Corp. 27,018 705,980 National Penn Bancshares, Inc. 251,029 2,603,171 # National Security Group, Inc. 977 6,302 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Financials -- (Continued) National Western Life Insurance Co. Class A 3,479 $ 723,632 #* Naugatuck Valley Financial Corp. 2,250 16,628 * Navigators Group, Inc. (The) 25,143 1,414,042 # NBT Bancorp, Inc. 75,428 1,838,180 Nelnet, Inc. Class A 57,370 2,445,683 * New Century Bancorp, Inc. 2,277 15,051 # New Hampshire Thrift Bancshares, Inc. 5,906 83,865 # New York Community Bancorp, Inc. 465,033 7,538,185 * NewBridge Bancorp 16,536 123,359 * NewStar Financial, Inc. 72,656 1,264,941 Nicholas Financial, Inc. 8,516 136,682 * North Valley Bancorp 1,037 19,599 Northeast Bancorp 301 3,013 Northeast Community Bancorp, Inc. 10,493 79,222 Northern Trust Corp. 162,259 9,154,653 # Northfield Bancorp, Inc. 94,419 1,220,838 Northrim BanCorp, Inc. 8,061 202,331 Northway Financial, Inc. 2,363 38,990 # Northwest Bancshares, Inc. 157,095 2,197,759 Norwood Financial Corp. 2,272 65,297 NYSE Euronext 260,317 11,459,154 # Ocean Shore Holding Co. 8,012 114,331 OceanFirst Financial Corp. 28,564 502,441 * Ocwen Financial Corp. 209,008 11,752,520 OFG Bancorp 78,548 1,163,296 Ohio Valley Banc Corp. 3,467 71,212 # Old Line Bancshares, Inc. 4,134 55,148 # Old National Bancorp 172,859 2,513,370 Old Republic International Corp. 436,893 7,335,433 #* Old Second Bancorp, Inc. 13,666 65,187 * OmniAmerican Bancorp, Inc. 18,051 395,678 OneBeacon Insurance Group, Ltd. Class A 42,145 672,634 Oppenheimer Holdings, Inc. Class A 13,829 274,229 Oritani Financial Corp. 82,902 1,344,670 Pacific Continental Corp. 25,226 347,614 * Pacific Mercantile Bancorp 10,106 62,859 #* Pacific Premier Bancorp, Inc. 7,368 102,489 PacWest Bancorp 73,075 2,780,504 # Park National Corp. 21,931 1,737,374 Park Sterling Corp. 27,958 182,007 PartnerRe, Ltd. 96,568 9,677,079 * Patriot National Bancorp, Inc. 1,300 1,573 # Peapack Gladstone Financial Corp. 11,403 209,131 # Penns Woods Bancorp, Inc. 6,023 308,378 # People's United Financial, Inc. 552,133 7,967,279 Peoples Bancorp of North Carolina, Inc. 4,359 57,059 Peoples Bancorp, Inc. 17,144 384,368 # Peoples Bancorp/Auburn 1,479 35,008 #* PHH Corp. 85,169 2,048,314 #* Phoenix Cos., Inc. (The) 8,763 337,989 * PICO Holdings, Inc. 36,902 866,459 * Pinnacle Financial Partners, Inc. 57,965 1,796,915 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Financials -- (Continued) #* Piper Jaffray Cos. 23,362 $ 838,462 Platinum Underwriters Holdings, Ltd. 60,202 3,743,962 PNC Financial Services Group, Inc. (The) 284,434 20,914,432 * Popular, Inc. 173,661 4,384,940 * Porter Bancorp, Inc. 11,060 12,387 #* Portfolio Recovery Associates, Inc. 83,079 4,939,047 * Preferred Bank 4,437 85,279 Premier Financial Bancorp, Inc. 6,752 81,159 Primerica, Inc. 92,700 3,981,465 * Primus Guaranty, Ltd. 34,369 347,127 Principal Financial Group, Inc. 329,033 15,615,906 PrivateBancorp, Inc. 126,941 3,092,283 ProAssurance Corp. 103,952 4,711,105 Progressive Corp. (The) 301,119 7,820,060 # Prosperity Bancshares, Inc. 104,783 6,543,698 Protective Life Corp. 131,470 6,058,138 Provident Financial Holdings, Inc. 13,977 211,891 Provident Financial Services, Inc. 91,196 1,709,013 * Prudential Bancorp, Inc. 6,263 67,702 Prudential Financial, Inc. 245,011 19,941,445 * PSB Holdings, Inc. 3,341 20,848 Pulaski Financial Corp. 14,284 155,553 Pzena Investment Management, Inc. Class A 4,045 29,084 QC Holdings, Inc. 17,425 40,949 QCR Holdings, Inc. 2,716 47,150 # Radian Group, Inc. 195,407 2,847,080 Raymond James Financial, Inc. 171,935 7,848,833 Regions Financial Corp. 1,563,946 15,060,800 Reinsurance Group of America, Inc. 121,401 8,641,323 RenaissanceRe Holdings, Ltd. 79,147 7,416,865 # Renasant Corp. 45,989 1,318,965 Republic Bancorp, Inc. Class A 27,977 644,031 * Republic First Bancorp, Inc. 20,055 63,173 Resource America, Inc. Class A 25,836 222,965 #* Riverview Bancorp, Inc. 12,542 33,362 # RLI Corp. 36,253 3,425,183 Rockville Financial, Inc. 43,857 576,720 #* Roma Financial Corp. 37,277 725,410 * Royal Bancshares of Pennsylvania, Inc. Class A 6,756 10,337 S&T Bancorp, Inc. 49,333 1,209,645 #* Safeguard Scientifics, Inc. 33,090 577,421 Safety Insurance Group, Inc. 24,634 1,347,233 Salisbury Bancorp, Inc. 1,248 32,729 Sandy Spring Bancorp, Inc. 38,929 953,371 SB Financial Group, Inc. 2,715 22,127 #* Seacoast Banking Corp. of Florida 44,610 101,711 * Security National Financial Corp. Class A 2,968 17,422 SEI Investments Co. 127,149 4,220,075 Selective Insurance Group, Inc. 91,857 2,413,083 * Shore Bancshares, Inc. 6,595 60,344 SI Financial Group, Inc. 10,889 123,372 * Siebert Financial Corp. 8,302 13,615 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Financials -- (Continued) Sierra Bancorp 16,840 $ 318,781 * Signature Bank 64,459 6,563,215 Simmons First National Corp. Class A 26,251 859,458 Simplicity Bancorp, Inc. 11,596 181,825 SLM Corp. 351,367 8,914,181 * Southcoast Financial Corp. 5,485 31,539 (d) Southern Community Financial 13,882 3,054 #* Southern First Bancshares, Inc. 3,032 40,750 # Southern Missouri Bancorp, Inc. 1,461 44,195 # Southern National Bancorp of Virginia, Inc. 1,825 17,794 # Southside Bancshares, Inc. 28,838 787,277 * Southwest Bancorp, Inc. 29,265 468,533 Southwest Georgia Financial Corp. 1,954 18,563 #* St Joe Co. (The) 106,833 1,994,572 StanCorp Financial Group, Inc. 73,462 4,326,912 State Auto Financial Corp. 54,992 1,044,848 State Street Corp. 248,017 17,378,551 StellarOne Corp. 34,204 796,269 * Sterling Bancorp(859158107) 48,479 715,065 Sterling Bancorp(85917A100) 56,668 664,149 # Stewart Information Services Corp. 35,998 1,127,457 #* Stifel Financial Corp. 107,585 4,405,606 * Stratus Properties, Inc. 6,860 105,507 * Suffolk Bancorp 18,997 371,391 Summit State Bank 4,397 43,530 #* Sun Bancorp, Inc. 50,901 167,973 SunTrust Banks, Inc. 273,245 9,191,962 Susquehanna Bancshares, Inc. 325,996 3,841,863 * Sussex Bancorp 2,871 19,652 * SVB Financial Group 77,088 7,383,489 #* SWS Group, Inc. 32,323 181,978 # SY Bancorp, Inc. 21,632 649,176 Symetra Financial Corp. 152,628 2,858,722 Synovus Financial Corp. 1,699,250 5,522,563 T Rowe Price Group, Inc. 31,459 2,435,241 * Taylor Capital Group, Inc. 42,479 977,017 TCF Financial Corp. 289,798 4,399,134 TD Ameritrade Holding Corp. 239,738 6,535,258 # Teche Holding Co. 2,166 108,950 * Tejon Ranch Co. 33,119 1,226,065 Territorial Bancorp, Inc. 16,671 363,595 # Teton Advisors, Inc. Class A 95 5,344 #* Texas Capital Bancshares, Inc. 66,235 3,447,532 TF Financial Corp. 3,426 95,072 * TFS Financial Corp. 352,928 4,284,546 # Thomas Properties Group, Inc. 75,959 516,521 Timberland Bancorp, Inc. 5,770 51,180 # Tompkins Financial Corp. 19,678 970,519 Torchmark Corp. 106,486 7,758,570 Tower Financial Corp. 2,132 50,592 # Tower Group International, Ltd. 68,455 248,492 # TowneBank 44,760 651,706 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ --------- ------------ Financials -- (Continued) #* Transcontinental Realty Investors, Inc. 100 $ 889 Travelers Cos., Inc. (The) 226,260 19,526,238 Tree.com, Inc. 18,558 547,647 Trico Bancshares 24,571 621,401 # TrustCo Bank Corp. 156,439 1,051,270 # Trustmark Corp. 117,058 3,179,295 U.S. Bancorp 991,278 37,034,146 # UMB Financial Corp. 67,933 4,002,612 # Umpqua Holdings Corp. 183,580 3,005,205 Unico American Corp. 100 1,254 # Union Bankshares Inc/Morrisville 2,439 52,853 # Union First Market Bankshares Corp. 38,167 920,588 United Bancshares, Inc. 2,086 27,681 # United Bankshares, Inc. 79,055 2,338,447 United Community Bancorp 1,156 12,600 * United Community Banks, Inc. 73,893 1,151,992 #* United Community Financial Corp. 11,197 44,788 United Financial Bancorp, Inc. 27,958 438,381 United Fire Group, Inc. 51,432 1,630,394 #* United Security Bancshares 8,516 43,774 Unity Bancorp, Inc. 5,831 43,208 # Universal Insurance Holdings, Inc. 67,373 528,204 Univest Corp. of Pennsylvania 26,394 527,088 Unum Group 291,024 9,237,102 Validus Holdings, Ltd. 182,557 7,207,350 # Valley National Bancorp 328,369 3,201,598 * Vantagesouth Bancshares, Inc. 6,567 32,113 ViewPoint Financial Group, Inc. 65,752 1,434,051 * Virginia Commerce Bancorp, Inc. 47,407 759,934 * Virtus Investment Partners, Inc. 10,603 2,157,923 VSB Bancorp, Inc. 134 1,410 Waddell & Reed Financial, Inc. Class A 29,603 1,827,985 #* Walker & Dunlop, Inc. 17,247 223,866 Washington Banking Co. 24,202 411,676 Washington Federal, Inc. 177,307 4,039,053 Washington Trust Bancorp, Inc. 27,109 891,615 #* Waterstone Financial, Inc. 22,950 244,188 # Wayne Savings Bancshares, Inc. 1,615 16,715 Webster Financial Corp. 153,273 4,274,784 Wells Fargo & Co. 2,946,563 125,788,774 WesBanco, Inc. 44,938 1,321,177 # West BanCorp., Inc. 23,486 324,577 # Westamerica BanCorp. 47,131 2,426,304 * Western Alliance Bancorp 153,411 3,244,643 Westfield Financial, Inc. 39,650 285,877 Westwood Holdings Group, Inc. 8,294 442,319 # Willis Group Holdings P.L.C. 105,494 4,754,615 Wilshire Bancorp, Inc. 120,435 1,020,084 # Wintrust Financial Corp. 68,885 2,997,186 #* World Acceptance Corp. 24,217 2,521,474 WR Berkley Corp. 137,631 6,043,377 WSFS Financial Corp. 1,313 91,923 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- -------------- Financials -- (Continued) WVS Financial Corp. 2,157 $ 23,856 XL Group P.L.C. 319,765 9,775,216 * Yadkin Financial Corp. 5,013 82,313 Zions BanCorp. 302,813 8,590,805 * ZipRealty, Inc. 25,107 138,089 -------------- Total Financials 2,010,749,502 -------------- Health Care -- (9.6%) # Abaxis, Inc. 12,970 463,418 Abbott Laboratories 446,908 16,334,487 AbbVie, Inc. 176,697 8,560,970 #* ABIOMED, Inc. 5,518 132,322 #* Acadia Healthcare Co., Inc. 4,018 174,220 #* Accelerate Diagnostics, Inc. 2,323 29,781 #* Accretive Health, Inc. 10,626 87,771 #* Accuray, Inc. 110,347 744,842 * Acorda Therapeutics, Inc. 55,709 1,705,252 * Actavis P.L.C. 111,992 17,311,723 #* Adcare Health Systems, Inc. 7,607 30,048 #* Addus HomeCare Corp. 18,395 475,511 #* Aegerion Pharmaceuticals, Inc. 2,206 182,701 Aetna, Inc. 245,037 15,363,820 #* Affymax, Inc. 51,139 57,787 #* Affymetrix, Inc. 122,411 865,446 Agilent Technologies, Inc. 144,195 7,319,338 # Air Methods Corp. 52,319 2,287,387 #* Akorn, Inc. 31,906 652,159 #* Albany Molecular Research, Inc. 46,348 607,159 * Alere, Inc. 138,356 4,666,748 * Alexion Pharmaceuticals, Inc. 36,176 4,447,839 #* Align Technology, Inc. 80,275 4,580,491 * Alkermes P.L.C. 131,989 4,644,693 Allergan, Inc. 33,891 3,070,864 #* Alliance HealthCare Services, Inc. 10,915 275,167 * Allied Healthcare Products 6,964 16,226 * Allscripts Healthcare Solutions, Inc. 313,825 4,340,200 # Almost Family, Inc. 13,353 256,778 #* Alnylam Pharmaceuticals, Inc. 41,355 2,382,462 #* Alphatec Holdings, Inc. 95,998 174,716 #* AMAG Pharmaceuticals, Inc. 27,690 747,076 #* Amedisys, Inc. 54,078 880,390 * American Shared Hospital Services 4,179 10,176 AmerisourceBergen Corp. 88,145 5,758,513 Amgen, Inc. 259,507 30,102,812 * AMN Healthcare Services, Inc. 76,927 953,895 * Amsurg Corp. 53,736 2,304,737 # Analogic Corp. 19,808 1,826,892 * AngioDynamics, Inc. 37,120 583,526 * ANI Pharmaceuticals, Inc. 1,410 14,453 * Anika Therapeutics, Inc. 23,479 701,318 #* Ariad Pharmaceuticals, Inc. 119,700 263,340 #* Arqule, Inc. 26,787 60,271 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Health Care -- (Continued) #* Arrhythmia Research Technology, Inc. 1,790 $ 5,844 * ArthroCare Corp. 47,983 1,796,484 #* athenahealth, Inc. 10,282 1,372,750 * AtriCure, Inc. 8,962 124,124 # Atrion Corp. 3,127 835,472 #* Authentidate Holding Corp. 1,238 1,560 #* Auxilium Pharmaceuticals, Inc. 77,464 1,333,155 #* AVEO Pharmaceuticals, Inc. 13,498 27,941 #* Baxano Surgical, Inc. 28,585 34,588 Baxter International, Inc. 52,724 3,472,930 Becton Dickinson and Co. 25,917 2,724,654 * Bio-Rad Laboratories, Inc. Class A 35,403 4,372,979 * Bio-Rad Laboratories, Inc. Class B 2,960 360,498 #* Bio-Reference Labs, Inc. 36,510 1,183,289 #* Bioanalytical Systems, Inc. 2,068 3,805 * BioCryst Pharmaceuticals, Inc. 79 455 * Biogen Idec, Inc. 30,059 7,340,107 * BioMarin Pharmaceutical, Inc. 35,450 2,226,969 * BioScrip, Inc. 115,755 811,443 * Biospecifics Technologies Corp. 1,942 36,315 # Biota Pharmaceuticals, Inc. 5,213 19,966 * BioTelemetry, Inc. 40,437 369,594 * Boston Scientific Corp. 1,564,548 18,289,566 #* Bovie Medical Corp. 16,167 41,388 Bristol-Myers Squibb Co. 291,159 15,291,671 #* Brookdale Senior Living, Inc. 175,444 4,751,024 * Bruker Corp. 64,955 1,328,330 #* BSD Medical Corp. 3,163 4,998 * Cambrex Corp. 51,171 860,696 Cantel Medical Corp. 67,806 2,379,991 #* Capital Senior Living Corp. 43,514 965,141 #* Cardica, Inc. 3,013 3,616 Cardinal Health, Inc. 103,083 6,046,849 * CareFusion Corp. 229,823 8,910,238 #* CAS Medical Systems, Inc. 693 977 #* Catalyst Pharmaceutical Partners, Inc. 890 1,442 * Celgene Corp. 45,414 6,743,525 #* Celldex Therapeutics, Inc. 88,604 2,029,918 #* Celsion Corp. 1,650 6,633 * Centene Corp. 70,647 3,967,536 #* Cepheid, Inc. 18,235 742,529 * Cerner Corp. 52,076 2,917,818 * Charles River Laboratories International, Inc. 68,075 3,349,971 # Chemed Corp. 31,925 2,165,154 * Chindex International, Inc. 12,137 204,266 Cigna Corp. 203,814 15,689,602 #* Codexis, Inc. 13,246 23,048 #* Columbia Laboratories, Inc. 811 5,839 Community Health Systems, Inc. 159,413 6,955,189 # Computer Programs & Systems, Inc. 4,189 238,941 CONMED Corp. 43,673 1,584,020 Cooper Cos., Inc. (The) 74,291 9,599,140 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Health Care -- (Continued) * Cornerstone Therapeutics, Inc. 2,272 $ 21,516 * Corvel Corp. 31,890 1,326,624 * Covance, Inc. 72,888 6,505,983 Covidien P.L.C. 84,869 5,440,952 CR Bard, Inc. 12,868 1,752,879 * Cross Country Healthcare, Inc. 40,726 241,912 CryoLife, Inc. 38,877 349,504 * Cubist Pharmaceuticals, Inc. 92,878 5,758,436 #* Cumberland Pharmaceuticals, Inc. 29,618 144,832 #* Cutera, Inc. 22,365 224,768 * Cyberonics, Inc. 26,907 1,554,148 #* Cynosure, Inc. Class A 36,379 786,150 * DaVita HealthCare Partners, Inc. 105,706 5,941,734 Daxor Corp. 5,407 40,390 DENTSPLY International, Inc. 96,933 4,565,544 * Depomed, Inc. 23,828 171,562 * Digirad Corp. 23,800 79,254 #* Durect Corp. 40,784 61,176 #* Dyax Corp. 68,911 566,448 #* Dynavax Technologies Corp. 23,749 29,211 * Edwards Lifesciences Corp. 36,693 2,392,017 Eli Lilly & Co. 124,130 6,184,157 * Emergent Biosolutions, Inc. 57,004 1,113,288 * Emeritus Corp. 65,645 1,257,758 * Endo Health Solutions, Inc. 160,078 7,000,211 #* Endocyte, Inc. 34,203 356,737 Ensign Group, Inc. (The) 38,205 1,626,769 #* EnteroMedics, Inc. 417 517 #* Enzo Biochem, Inc. 53,941 134,313 # Enzon Pharmaceuticals, Inc. 77,086 114,087 #* Exact Sciences Corp. 15,692 172,926 * Exactech, Inc. 18,871 428,372 #* ExamWorks Group, Inc. 44,531 1,151,126 * Express Scripts Holding Co. 462,397 28,909,060 * Five Star Quality Care, Inc. 79,274 401,919 * Forest Laboratories, Inc. 190,988 8,982,166 #* Furiex Pharmaceuticals, Inc. 14,153 553,382 * Gentiva Health Services, Inc. 57,592 659,428 #* Geron Corp. 69,319 273,810 * Gilead Sciences, Inc. 135,356 9,608,922 * Greatbatch, Inc. 36,653 1,397,212 #* GTx, Inc. 30,947 52,919 #* Haemonetics Corp. 90,565 3,673,316 * Hanger, Inc. 53,322 1,956,917 * Harvard Bioscience, Inc. 41,105 242,108 HCA Holdings, Inc. 34,706 1,636,041 * Health Management Associates, Inc. Class A 396,076 5,077,694 * Health Net, Inc. 136,519 4,150,178 # HealthSouth Corp. 70,418 2,472,376 * HealthStream, Inc. 26,746 955,367 #* Healthways, Inc. 58,045 558,973 * Henry Schein, Inc. 63,424 7,130,760 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Health Care -- (Continued) Hi-Tech Pharmacal Co., Inc. 21,628 $ 931,951 Hill-Rom Holdings, Inc. 100,477 4,148,695 #* HMS Holdings Corp. 18,900 399,357 #* Hologic, Inc. 247,729 5,546,652 * Hooper Holmes, Inc. 27,377 16,426 #* Horizon Pharma, Inc. 25,375 106,321 * Hospira, Inc. 117,874 4,776,254 Humana, Inc. 116,332 10,719,994 * ICU Medical, Inc. 24,911 1,539,500 * Idera Pharmaceuticals, Inc. 30,405 55,945 #* IDEXX Laboratories, Inc. 10,874 1,172,870 #* Illumina, Inc. 19,907 1,861,504 #* Immunomedics, Inc. 35,448 134,348 * Impax Laboratories, Inc. 115,042 2,330,751 * Incyte Corp., Ltd. 86,152 3,359,928 #* Infinity Pharmaceuticals, Inc. 22,453 304,238 #* Inovio Pharmaceuticals, Inc. 13,901 24,049 #* Integra LifeSciences Holdings Corp. 42,971 1,967,212 * Intuitive Surgical, Inc. 3,637 1,351,146 Invacare Corp. 52,268 1,122,194 #* IPC The Hospitalist Co., Inc. 28,824 1,579,267 * Iridex Corp. 6,507 38,847 #* Isis Pharmaceuticals, Inc. 1,872 62,281 * Jazz Pharmaceuticals P.L.C. 51,858 4,705,595 Johnson & Johnson 409,001 37,877,583 #* Keryx Biopharmaceuticals, Inc. 5,600 57,960 Kewaunee Scientific Corp. 3,000 52,080 Kindred Healthcare, Inc. 91,626 1,271,769 * Laboratory Corp. of America Holdings 59,940 6,047,946 # Landauer, Inc. 5,650 273,460 * Lannett Co., Inc. 50,589 1,194,406 * LCA-Vision, Inc. 20,620 67,840 LeMaitre Vascular, Inc. 22,583 181,567 #* LHC Group, Inc. 29,031 598,039 * Life Technologies Corp. 120,198 9,052,111 * LifePoint Hospitals, Inc. 79,199 4,089,836 #* Ligand Pharmaceuticals, Inc. Class B 511 26,449 #* Luminex Corp. 54,809 1,068,776 * Magellan Health Services, Inc. 45,391 2,664,452 * Mallinckrodt P.L.C. 10,608 445,642 # Masimo Corp. 70,609 1,809,003 #* Mast Therapeutics, Inc. 25,886 12,684 (d)* Maxygen, Inc. 48,995 1,470 McKesson Corp. 54,224 8,477,380 * MedAssets, Inc. 107,780 2,482,173 (d)* MedCath Corp. 26,258 35,973 * Medical Action Industries, Inc. 32,084 194,429 * Medicines Co. (The) 106,859 3,624,657 #* MediciNova, Inc. 5,363 13,247 * Medidata Solutions, Inc. 8,885 980,104 #* Medivation, Inc. 28,640 1,714,390 #* MEDNAX, Inc. 84,523 9,214,697 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ --------- ------------ Health Care -- (Continued) Medtronic, Inc. 231,890 $ 13,310,486 Merck & Co., Inc. 1,401,705 63,202,878 #* Merge Healthcare, Inc. 37,716 95,799 # Meridian Bioscience, Inc. 4,687 115,863 * Merit Medical Systems, Inc. 68,602 1,096,946 #* Metabolix, Inc. 1,182 1,300 * Mettler-Toledo International, Inc. 11,500 2,845,790 * Misonix, Inc. 8,260 34,527 * Molina Healthcare, Inc. 76,298 2,414,069 #* Momenta Pharmaceuticals, Inc. 88,278 1,446,876 #* MWI Veterinary Supply, Inc. 11,689 1,854,343 * Mylan, Inc. 182,953 6,928,430 #* Myriad Genetics, Inc. 134,178 3,271,260 #* Nanosphere, Inc. 31,702 61,819 # National Healthcare Corp. 20,065 970,745 #* National Research Corp. Class A 29,412 515,886 # National Research Corp. Class B 4,902 137,207 * Natus Medical, Inc. 58,055 1,145,425 #* Neogen Corp. 29,078 1,343,962 #* NPS Pharmaceuticals, Inc. 35,921 1,033,806 * NuVasive, Inc. 72,836 2,314,728 Omnicare, Inc. 174,573 9,627,701 * Omnicell, Inc. 58,316 1,345,350 #* OncoGenex Pharmaceutical, Inc. 1,700 11,951 #* Opko Health, Inc. 16,224 162,564 #* OraSure Technologies, Inc. 35,303 230,176 * Orthofix International NV 29,396 602,324 #* Osiris Therapeutics, Inc. 13,955 185,741 # Owens & Minor, Inc. 111,336 4,166,193 #* Pacific Biosciences of California, Inc. 66,354 272,715 # Pain Therapeutics, Inc. 50,349 184,277 * PAREXEL International Corp. 91,576 4,185,939 Patterson Cos., Inc. 141,055 5,996,248 * PDI, Inc. 21,336 101,773 # PDL BioPharma, Inc. 149,198 1,207,012 PerkinElmer, Inc. 195,372 7,431,951 #* Pernix Therapeutics Holdings 7,120 14,881 Perrigo Co. 21,164 2,918,304 Pfizer, Inc. 3,622,771 111,146,614 * PharMerica Corp. 47,968 708,008 #* PhotoMedex, Inc. 7,613 96,228 * Pozen, Inc. 44,928 282,372 #* Progenics Pharmaceuticals, Inc. 99,984 363,942 * ProPhase Labs, Inc. 19,981 33,168 * Providence Service Corp. (The) 23,103 690,549 #* pSivida Corp. 25,881 63,408 Psychemedics Corp. 1,810 25,322 # Quality Systems, Inc. 80,306 1,832,583 # Quest Diagnostics, Inc. 107,667 6,450,330 # Questcor Pharmaceuticals, Inc. 47,500 2,915,075 #* Quidel Corp. 50,738 1,253,229 #* RadNet, Inc. 33,951 83,180 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Health Care -- (Continued) * Regeneron Pharmaceuticals, Inc. 33,215 $ 9,552,634 #* Repligen Corp. 54,646 597,827 # ResMed, Inc. 67,431 3,488,880 * Retractable Technologies, Inc. 7,725 19,235 #* Rigel Pharmaceuticals, Inc. 102,876 317,887 * Rochester Medical Corp. 15,592 311,528 * RTI Biologics, Inc. 87,990 245,492 * Sagent Pharmaceuticals, Inc. 15,657 339,600 * Salix Pharmaceuticals, Ltd. 24,827 1,781,337 #* Sangamo Biosciences, Inc. 38,459 360,361 #* Santarus, Inc. 49,945 1,165,217 * Sciclone Pharmaceuticals, Inc. 88,042 416,439 #* Seattle Genetics, Inc. 38,000 1,467,940 Select Medical Holdings Corp. 193,326 1,639,404 Simulations Plus, Inc. 4,400 23,056 * Sirona Dental Systems, Inc. 69,168 4,997,388 #* Skilled Healthcare Group, Inc. Class A 34,371 146,420 #* Solta Medical, Inc. 87,281 161,470 Span-America Medical Systems, Inc. 3,812 71,856 * Special Diversified Opportunities, Inc. 14,178 15,738 * Spectranetics Corp. 43,357 905,728 # Spectrum Pharmaceuticals, Inc. 95,574 820,981 St Jude Medical, Inc. 180,927 10,383,401 #* Staar Surgical Co. 26,138 346,067 #* StemCells, Inc. 545 725 #* Stereotaxis, Inc. 4,433 19,372 STERIS Corp. 86,361 3,902,654 Stryker Corp. 51,444 3,799,654 #* Sucampo Pharmaceuticals, Inc. Class A 14,749 91,444 * SunLink Health Systems, Inc. 3,122 2,513 * SurModics, Inc. 27,984 659,863 * Symmetry Medical, Inc. 59,206 479,569 #* Synageva BioPharma Corp. 511 25,959 * Targacept, Inc. 9,807 46,583 * Taro Pharmaceutical Industries, Ltd. 286 22,408 * Team Health Holdings, Inc. 44,743 1,943,636 Techne Corp. 14,100 1,232,199 # Teleflex, Inc. 68,019 6,269,991 * Tenet Healthcare Corp. 164,303 7,753,459 #* Theravance, Inc. 12,559 460,162 Thermo Fisher Scientific, Inc. 195,924 19,157,449 * Thoratec Corp. 97,164 4,196,513 * Tornier NV 7,921 170,381 #* Transcept Pharmaceuticals, Inc. 23,021 84,717 #* Triple-S Management Corp. Class B 40,623 723,496 #* United Therapeutics Corp. 60,724 5,375,288 UnitedHealth Group, Inc. 548,645 37,450,508 # Universal American Corp. 138,932 1,030,875 Universal Health Services, Inc. Class B 110,174 8,875,617 #* Uroplasty, Inc. 2,767 8,384 # US Physical Therapy, Inc. 20,088 641,209 Utah Medical Products, Inc. 6,006 334,294 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- -------------- Health Care -- (Continued) #* Varian Medical Systems, Inc. 17,446 $ 1,266,231 * Vascular Solutions, Inc. 27,406 537,706 * VCA Antech, Inc. 148,642 4,228,865 * Vertex Pharmaceuticals, Inc. 30,622 2,184,573 #* Vical, Inc. 19,691 24,614 #* ViroPharma, Inc. 109,689 4,258,127 #* Volcano Corp. 31,538 604,583 * Waters Corp. 16,195 1,634,399 * WellCare Health Plans, Inc. 74,900 4,994,332 WellPoint, Inc. 203,028 17,216,774 # West Pharmaceutical Services, Inc. 107,900 5,216,965 * Wright Medical Group, Inc. 77,860 2,115,456 #* XenoPort, Inc. 47,251 247,123 #* Zalicus, Inc. 8,906 39,010 # Zimmer Holdings, Inc. 127,441 11,147,264 Zoetis, Inc. 936,170 29,639,142 -------------- Total Health Care 1,066,398,225 -------------- Industrials -- (12.4%) 3M Co. 78,020 9,818,817 AAON, Inc. 58,279 1,574,116 AAR Corp. 64,754 1,895,997 ABM Industries, Inc. 92,707 2,550,370 # Acacia Research Corp. 71,606 1,080,535 #* ACCO Brands Corp. 122,914 719,047 * Accuride Corp. 34,436 154,962 Aceto Corp. 49,227 785,171 # Acme United Corp. 2,302 33,701 Acorn Energy, Inc. 24,822 93,331 * Active Power, Inc. 920 2,732 # Actuant Corp. Class A 121,522 4,564,366 # Acuity Brands, Inc. 45,017 4,524,659 #* Adept Technology, Inc. 14,123 117,503 # ADT Corp. (The) 131,385 5,698,167 #* Advisory Board Co. (The) 27,568 1,891,165 * AECOM Technology Corp. 174,318 5,539,826 * Aegion Corp. 65,490 1,342,545 #* AeroCentury Corp. 1,459 29,180 #* Aerovironment, Inc. 37,203 1,008,573 AGCO Corp. 85,758 5,006,552 * Air Transport Services Group, Inc. 100,405 726,932 Aircastle, Ltd. 90,875 1,714,811 Alamo Group, Inc. 20,434 964,280 Alaska Air Group, Inc. 120,097 8,486,054 Albany International Corp. Class A 47,024 1,730,953 Allegiant Travel Co. 28,186 2,938,954 Alliant Techsystems, Inc. 55,126 6,001,568 (d) Allied Defense Group, Inc. (The) 8,042 42,221 Allied Motion Technologies, Inc. 6,678 63,775 Altra Holdings, Inc. 46,243 1,404,400 AMERCO 30,241 6,106,565 #* Ameresco, Inc. Class A 37,184 388,945 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Industrials -- (Continued) # American Railcar Industries, Inc. 39,572 $1,620,869 American Science & Engineering, Inc. 13,227 870,072 #* American Superconductor Corp. 9,532 20,780 * American Woodmark Corp. 25,255 856,650 AMETEK, Inc. 85,095 4,070,094 Ampco-Pittsburgh Corp. 14,266 262,637 * AMREP Corp. 9,572 77,055 AO Smith Corp. 116,746 6,029,931 # Apogee Enterprises, Inc. 51,318 1,605,227 Applied Industrial Technologies, Inc. 73,294 3,467,539 * ARC Document Solutions, Inc. 70,373 439,128 # Argan, Inc. 21,848 486,118 # Arkansas Best Corp. 42,847 1,172,722 * Armstrong World Industries, Inc. 74,050 3,956,491 #* Arotech Corp. 5,156 8,507 #* Ascent Solar Technologies, Inc. 31,475 29,587 Astec Industries, Inc. 37,588 1,270,850 * Astronics Corp. 18,918 928,117 #* Astronics Corp. Class B 3,686 177,978 * Atlas Air Worldwide Holdings, Inc. 44,090 1,632,653 #* Avalon Holdings Corp. Class A 1,202 6,226 * Avis Budget Group, Inc. 182,485 5,717,255 AZZ, Inc. 42,362 1,902,054 * B/E Aerospace, Inc. 121,675 9,875,143 # Babcock & Wilcox Co. (The) 94,915 3,057,212 Baltic Trading, Ltd. 21,705 97,238 Barnes Group, Inc. 86,441 3,072,113 Barrett Business Services, Inc. 13,746 1,144,629 #* Beacon Roofing Supply, Inc. 81,124 2,815,814 Belden, Inc. 70,812 4,762,815 * Blount International, Inc. 39,777 484,484 #* BlueLinx Holdings, Inc. 86,144 160,228 Boeing Co. (The) 66,931 8,734,495 Brady Corp. Class A 77,801 2,271,011 * Breeze-Eastern Corp. 12,352 115,182 # Briggs & Stratton Corp. 79,246 1,453,372 Brink's Co. (The) 81,804 2,568,646 * Broadwind Energy, Inc. 2,072 15,126 #* Builders FirstSource, Inc. 71,793 531,986 * CAI International, Inc. 34,699 759,561 Carlisle Cos., Inc. 85,240 6,195,243 * Casella Waste Systems, Inc. Class A 38,456 227,275 Caterpillar, Inc. 74,853 6,239,746 #* CBIZ, Inc. 93,126 759,908 CDI Corp. 28,435 456,382 # Ceco Environmental Corp. 31,518 556,293 Celadon Group, Inc. 38,691 717,331 # CH Robinson Worldwide, Inc. 16,987 1,014,803 #* Chart Industries, Inc. 42,909 4,611,430 Chicago Bridge & Iron Co. NV 13,995 1,036,890 Chicago Rivet & Machine Co. 653 21,680 # Cintas Corp. 116,576 6,268,292 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Industrials -- (Continued) CIRCOR International, Inc. 29,983 $ 2,211,846 # CLARCOR, Inc. 64,019 3,743,831 #* Clean Harbors, Inc. 76,523 4,725,295 * CNH Industrial NV 48,680 571,016 Coleman Cable, Inc. 10,781 265,213 * Colfax Corp. 141,914 7,941,507 * Columbus McKinnon Corp. 32,105 835,051 # Comfort Systems USA, Inc. 65,515 1,220,544 #* Command Security Corp. 10,654 16,301 #* Commercial Vehicle Group, Inc. 24,357 191,690 # Compx International, Inc. 3,471 49,253 Con-way, Inc. 93,689 3,859,987 * Consolidated Graphics, Inc. 15,948 1,022,107 Copa Holdings SA Class A 1,000 149,540 * Copart, Inc. 71,990 2,320,238 Corporate Executive Board Co. (The) 21,537 1,570,047 * Costa, Inc. 18,556 373,347 Courier Corp. 21,176 359,780 Covanta Holding Corp. 226,397 3,887,236 * Covenant Transportation Group, Inc. Class A 12,060 78,752 #* CPI Aerostructures, Inc. 8,781 108,884 * CRA International, Inc. 14,257 271,596 Crane Co. 74,082 4,704,207 CSX Corp. 566,905 14,773,544 Cubic Corp. 42,291 2,220,277 Cummins, Inc. 25,812 3,278,640 Curtiss-Wright Corp. 78,292 3,897,376 Danaher Corp. 185,922 13,403,117 Deere & Co. 46,100 3,772,824 Delta Air Lines, Inc. 294,469 7,768,092 # Deluxe Corp. 64,753 3,049,219 #* DigitalGlobe, Inc. 125,841 4,004,261 * Dolan Co. (The) 44,099 113,334 Donaldson Co., Inc. 44,342 1,756,387 Douglas Dynamics, Inc. 35,140 533,074 Dover Corp. 121,960 11,194,708 #* Ducommun, Inc. 17,367 431,744 # Dun & Bradstreet Corp. (The) 30,081 3,272,512 #* DXP Enterprises, Inc. 20,305 1,866,029 * Dycom Industries, Inc. 55,795 1,654,322 Dynamic Materials Corp. 20,382 450,442 #* Eagle Bulk Shipping, Inc. 13,093 72,797 # Eastern Co. (The) 6,782 112,242 Eaton Corp. P.L.C. 271,917 19,186,464 #* Echo Global Logistics, Inc. 40,101 738,259 Ecology and Environment, Inc. Class A 3,767 41,437 EMCOR Group, Inc. 112,952 4,186,001 Emerson Electric Co. 95,382 6,387,733 # Encore Wire Corp. 34,570 1,712,252 #* Energy Recovery, Inc. 58,749 343,094 * EnerNOC, Inc. 48,983 814,587 # EnerSys, Inc. 80,857 5,364,862 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ --------- ------------ Industrials -- (Continued) #* Engility Holdings, Inc. 23,306 $ 721,787 Ennis, Inc. 39,200 695,800 #* EnPro Industries, Inc. 35,768 2,134,277 EnviroStar, Inc. 100 300 Equifax, Inc. 103,330 6,682,351 ESCO Technologies, Inc. 42,033 1,516,551 # Espey Manufacturing & Electronics Corp. 4,614 149,955 * Esterline Technologies Corp. 54,096 4,336,335 Exelis, Inc. 304,397 5,019,507 Expeditors International of Washington, Inc. 34,200 1,548,918 # Exponent, Inc. 18,149 1,372,246 # Fastenal Co. 55,147 2,746,321 * Federal Signal Corp. 107,743 1,475,002 FedEx Corp. 169,074 22,148,694 * Flow International Corp. 71,353 284,698 Flowserve Corp. 87,256 6,061,674 Fluor Corp. 110,405 8,194,259 Fortune Brands Home & Security, Inc. 204,895 8,826,877 Forward Air Corp. 50,954 2,062,618 * Franklin Covey Co. 27,517 517,320 Franklin Electric Co., Inc. 81,568 3,087,349 # FreightCar America, Inc. 19,246 428,031 #* FTI Consulting, Inc. 66,837 2,712,245 * Fuel Tech, Inc. 30,552 138,401 * Furmanite Corp. 64,389 724,376 G&K Services, Inc. Class A 31,902 1,990,685 GATX Corp. 77,786 4,009,868 #* Genco Shipping & Trading, Ltd. 60,046 160,323 * Gencor Industries, Inc. 5,578 50,927 #* GenCorp, Inc. 63,086 1,059,845 # Generac Holdings, Inc. 72,815 3,593,420 # General Cable Corp. 82,789 2,726,242 General Dynamics Corp. 162,242 14,055,024 General Electric Co. 5,963,501 155,885,916 * Genesee & Wyoming, Inc. Class A 86,204 8,606,607 * Gibraltar Industries, Inc. 49,354 790,158 Global Power Equipment Group, Inc. 22,239 452,786 #* Goldfield Corp. (The) 18,424 35,006 Gorman-Rupp Co. (The) 30,367 1,237,152 * GP Strategies Corp. 32,659 915,105 Graco, Inc. 14,618 1,129,387 #* GrafTech International, Ltd. 193,671 1,723,672 Graham Corp. 16,819 619,107 Granite Construction, Inc. 65,859 2,130,539 # Great Lakes Dredge & Dock Corp. 99,858 810,847 #* Greenbrier Cos., Inc. 47,338 1,256,351 # Griffon Corp. 98,568 1,235,057 * H&E Equipment Services, Inc. 53,667 1,343,285 Hardinge, Inc. 16,040 237,232 Harsco Corp. 136,272 3,799,263 #* Hawaiian Holdings, Inc. 88,476 729,927 Healthcare Services Group, Inc. 6,892 188,772 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Industrials -- (Continued) # Heartland Express, Inc. 145,966 $ 2,096,072 # HEICO Corp. 37,894 2,030,347 HEICO Corp. Class A 69,871 2,722,184 Heidrick & Struggles International, Inc. 26,138 484,076 #* Heritage-Crystal Clean, Inc. 7,298 128,956 Herman Miller, Inc. 49,591 1,504,591 * Hertz Global Holdings, Inc. 304,946 7,001,560 * Hexcel Corp. 126,769 5,363,596 * Hill International, Inc. 51,954 178,722 HNI Corp. 75,289 2,924,978 Honeywell International, Inc. 95,314 8,266,583 # Houston Wire & Cable Co. 30,850 427,890 #* Hub Group, Inc. Class A 61,641 2,264,074 Hubbell, Inc. Class A 7,919 766,559 Hubbell, Inc. Class B 61,174 6,578,652 * Hudson Global, Inc. 43,679 141,957 Huntington Ingalls Industries, Inc. 64,098 4,586,212 Hurco Cos., Inc. 8,940 218,941 * Huron Consulting Group, Inc. 39,594 2,319,021 Hyster-Yale Materials Handling, Inc. 20,758 1,628,258 * ICF International, Inc. 29,949 1,036,834 IDEX Corp. 123,842 8,563,674 * IHS, Inc. Class A 19,218 2,095,723 * II-VI, Inc. 96,336 1,643,492 Illinois Tool Works, Inc. 87,875 6,923,671 Ingersoll-Rand P.L.C. 157,241 10,618,485 #* InnerWorkings, Inc. 66,030 631,907 #* Innotrac Corp. 4,173 28,001 # Innovative Solutions & Support, Inc. 19,910 156,891 Insperity, Inc. 41,907 1,620,544 Insteel Industries, Inc. 28,079 465,831 * Integrated Electrical Services, Inc. 14,770 68,828 * Intelligent Systems Corp. 629 969 # Interface, Inc. 83,838 1,697,720 International Shipholding Corp. 8,363 207,570 # Intersections, Inc. 30,961 265,336 Iron Mountain, Inc. 80,657 2,140,637 ITT Corp. 114,983 4,568,275 * Jacobs Engineering Group, Inc. 84,730 5,153,279 JB Hunt Transport Services, Inc. 32,900 2,468,487 #* JetBlue Airways Corp. 459,283 3,256,316 John Bean Technologies Corp. 39,301 1,068,201 # Joy Global, Inc. 41,920 2,378,960 Kadant, Inc. 17,092 611,894 Kaman Corp. 84,492 3,141,413 Kansas City Southern 95,096 11,556,066 KAR Auction Services, Inc. 233,513 6,940,006 KBR, Inc. 254,805 8,800,965 Kelly Services, Inc. Class A 60,884 1,270,040 Kelly Services, Inc. Class B 1,275 27,298 Kennametal, Inc. 133,416 6,137,136 * Key Technology, Inc. 7,462 107,975 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Industrials -- (Continued) Kforce, Inc. 59,534 $ 1,172,224 Kimball International, Inc. Class B 49,458 578,659 #* Kirby Corp. 99,803 8,831,567 # Knight Transportation, Inc. 134,478 2,282,092 Knoll, Inc. 59,156 971,342 * Korn/Ferry International 81,882 1,948,792 #* Kratos Defense & Security Solutions, Inc. 87,815 744,671 L-3 Communications Holdings, Inc. 100,263 10,071,418 # Landstar System, Inc. 14,471 800,102 * Lawson Products, Inc. 12,431 163,095 #* Layne Christensen Co. 34,483 666,901 LB Foster Co. Class A 15,943 745,335 Lennox International, Inc. 27,100 2,115,426 Lincoln Electric Holdings, Inc. 106,249 7,356,681 # Lindsay Corp. 20,998 1,596,058 #* LMI Aerospace, Inc. 17,391 273,039 Lockheed Martin Corp. 31,576 4,210,344 # LS Starrett Co. (The) Class A 9,260 105,286 LSI Industries, Inc. 42,695 393,221 * Luna Innovations, Inc. 4,551 6,553 * Lydall, Inc. 24,164 440,268 #* Magnetek, Inc. 1,525 27,633 #* Manitex International, Inc. 2,123 27,450 # Manitowoc Co., Inc. (The) 201,574 3,922,630 Manpowergroup, Inc. 126,766 9,900,425 Marten Transport, Ltd. 57,206 1,009,114 Masco Corp. 114,829 2,426,337 #* MasTec, Inc. 125,372 4,008,143 Mastech Holdings, Inc. 2,854 41,611 Matson, Inc. 71,411 1,934,524 McGrath RentCorp 39,998 1,426,729 * Meritor, Inc. 108,226 743,513 #* Metalico, Inc. 76,765 125,895 * Mfri, Inc. 6,501 76,972 #* Middleby Corp. 22,669 5,160,598 Miller Industries, Inc. 16,917 317,025 Mine Safety Appliances Co. 57,290 2,759,086 * Mistras Group, Inc. 35,093 644,307 #* Mobile Mini, Inc. 76,077 2,747,901 * Moog, Inc. Class A 70,114 4,187,909 #* Moog, Inc. Class B 6,265 378,907 * MRC Global, Inc. 6,276 175,414 MSC Industrial Direct Co., Inc. Class A 11,500 878,255 Mueller Industries, Inc. 59,084 3,562,174 Mueller Water Products, Inc. Class A 271,891 2,330,106 # Multi-Color Corp. 19,825 690,505 * MYR Group, Inc. 34,702 917,868 National Presto Industries, Inc. 10,320 728,076 #* National Technical Systems, Inc. 11,231 257,078 * Navigant Consulting, Inc. 82,951 1,439,200 #* Navistar International Corp. 55,759 2,016,245 #* NCI Building Systems, Inc. 929 13,405 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Industrials -- (Continued) Nielsen Holdings NV 118,592 $ 4,677,268 # NL Industries, Inc. 66,217 772,090 NN, Inc. 28,052 451,076 Nordson Corp. 44,212 3,187,243 Norfolk Southern Corp. 166,058 14,284,309 * Nortek, Inc. 376 26,384 Northrop Grumman Corp. 134,779 14,490,090 * Northwest Pipe Co. 14,098 507,951 #* Ocean Power Technologies, Inc. 8,423 19,794 * Old Dominion Freight Line, Inc. 112,300 5,266,870 # Omega Flex, Inc. 8,600 174,924 * On Assignment, Inc. 91,840 3,103,274 * Orbital Sciences Corp. 99,159 2,287,598 * Orion Energy Systems, Inc. 22,128 94,044 * Orion Marine Group, Inc. 30,944 386,800 * Oshkosh Corp. 152,082 7,237,582 * Owens Corning 187,471 6,735,833 PACCAR, Inc. 54,624 3,037,094 * Pacer International, Inc. 56,234 448,747 Pall Corp. 20,800 1,674,816 PAM Transportation Services, Inc. 9,059 157,627 * Park-Ohio Holdings Corp. 23,150 958,642 Parker Hannifin Corp. 97,858 11,421,986 * Patrick Industries, Inc. 17,318 541,707 #* Patriot Transportation Holding, Inc. 10,465 386,891 #* Pendrell Corp. 67,532 150,596 Pentair, Ltd. 202,918 13,613,769 * PGT, Inc. 53,997 564,269 Pike Electric Corp. 57,952 626,461 # Pitney Bowes, Inc. 40,358 861,240 #* Plug Power, Inc. 2,629 1,525 #* PMFG, Inc. 16,342 128,121 #* Polypore International, Inc. 76,811 3,471,857 * Powell Industries, Inc. 19,610 1,232,096 #* PowerSecure International, Inc. 39,354 711,520 Precision Castparts Corp. 18,338 4,647,766 Preformed Line Products Co. 8,209 689,720 Primoris Services Corp. 85,819 2,234,727 #* Proto Labs, Inc. 3,081 258,373 # Providence and Worcester Railroad Co. 3,494 71,522 Quad/Graphics, Inc. 4,133 144,324 * Quality Distribution, Inc. 37,533 385,839 # Quanex Building Products Corp. 60,568 1,076,899 * Quanta Services, Inc. 180,273 5,446,047 # Raven Industries, Inc. 36,990 1,233,986 Raytheon Co. 116,541 9,599,482 #* RBC Bearings, Inc. 38,366 2,639,197 # RCM Technologies, Inc. 13,580 87,591 #* Real Goods Solar, Inc. Class A 512 1,715 Regal-Beloit Corp. 73,463 5,387,042 * Republic Airways Holdings, Inc. 78,614 926,073 Republic Services, Inc. 212,096 7,098,853 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Industrials -- (Continued) Resources Connection, Inc. 84,694 $ 1,080,695 * Roadrunner Transportation Systems, Inc. 60,930 1,614,645 Robert Half International, Inc. 27,853 1,073,176 Rockwell Automation, Inc. 41,264 4,555,958 Rockwell Collins, Inc. 26,150 1,826,054 Rollins, Inc. 42,385 1,171,521 Roper Industries, Inc. 66,703 8,458,607 * RPX Corp. 80,220 1,432,729 # RR Donnelley & Sons Co. 285,484 5,301,438 #* Rush Enterprises, Inc. Class A 48,150 1,378,053 * Rush Enterprises, Inc. Class B 8,637 209,965 Ryder System, Inc. 87,824 5,781,454 * Saia, Inc. 37,126 1,207,709 Schawk, Inc. 32,035 468,352 Servotronics, Inc. 1,473 12,432 SIFCO Industries, Inc. 7,118 157,877 Simpson Manufacturing Co., Inc. 81,637 2,894,032 SkyWest, Inc. 91,028 1,369,061 SL Industries, Inc. 11,694 315,738 # SmartPros, Ltd. 1,344 2,688 Snap-on, Inc. 79,949 8,320,292 Southwest Airlines Co. 773,474 13,319,222 * Sparton Corp. 11,200 295,568 * Spirit Aerosystems Holdings, Inc. Class A 205,037 5,472,438 * Spirit Airlines, Inc. 81,858 3,532,173 SPX Corp. 80,563 7,307,870 * Standard Parking Corp. 21,221 561,720 #* Standard Register Co. (The) 6,813 57,911 Standex International Corp. 21,670 1,332,922 Stanley Black & Decker, Inc. 132,097 10,447,552 Steelcase, Inc. Class A 150,113 2,460,352 * Stericycle, Inc. 15,661 1,819,808 * Sterling Construction Co., Inc. 23,323 223,901 # Sun Hydraulics Corp. 31,604 1,254,047 * Supreme Industries, Inc. Class A 14,584 89,254 #* Swift Transportation Co. 142,697 3,109,368 Sypris Solutions, Inc. 26,299 83,894 # TAL International Group, Inc. 56,839 2,745,892 * Taser International, Inc. 82,399 1,464,230 #* Team, Inc. 31,401 1,170,943 #* Tecumseh Products Co. Class A 15,402 120,136 * Tecumseh Products Co. Class B 4,901 35,728 * Teledyne Technologies, Inc. 48,937 4,346,584 Tennant Co. 23,807 1,444,847 * Terex Corp. 193,513 6,763,279 * Tetra Tech, Inc. 101,118 2,642,213 # Textainer Group Holdings, Ltd. 82,635 3,131,866 Textron, Inc. 186,989 5,383,413 * Thermon Group Holdings, Inc. 22,321 524,767 Timken Co. 122,787 6,484,381 # Titan International, Inc. 82,777 1,200,267 #* Titan Machinery, Inc. 34,120 601,877 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Industrials -- (Continued) Toro Co. (The) 37,150 $ 2,189,621 Towers Watson & Co. Class A 37,357 4,288,957 TransDigm Group, Inc. 17,500 2,544,675 * TRC Cos., Inc. 29,408 226,148 #* Trex Co., Inc. 22,006 1,545,261 * Trimas Corp. 58,045 2,197,584 # Trinity Industries, Inc. 133,517 6,759,966 Triumph Group, Inc. 87,175 6,246,089 * TrueBlue, Inc. 71,032 1,754,490 * Tufco Technologies, Inc. 2,398 12,110 * Tutor Perini Corp. 82,733 1,898,722 # Twin Disc, Inc. 22,040 570,175 Tyco International, Ltd. 207,871 7,597,685 * Ultralife Corp. 19,679 76,748 UniFirst Corp. 24,068 2,474,672 Union Pacific Corp. 261,311 39,562,485 * United Continental Holdings, Inc. 215,852 7,328,175 United Parcel Service, Inc. Class B 63,147 6,203,561 #* United Rentals, Inc. 119,511 7,719,215 # United Stationers, Inc. 65,169 2,896,110 United Technologies Corp. 109,295 11,612,594 Universal Forest Products, Inc. 29,064 1,538,067 #* Universal Security Instruments, Inc. 1,873 8,944 Universal Truckload Services, Inc. 21,221 565,752 URS Corp. 128,537 6,969,276 #* US Airways Group, Inc. 199,017 4,372,403 US Ecology, Inc. 30,977 1,101,232 * USA Truck, Inc. 14,166 188,124 #* USG Corp. 115,330 3,149,662 # UTi Worldwide, Inc. 176,046 2,675,899 Valmont Industries, Inc. 33,895 4,762,247 * Verisk Analytics, Inc. Class A 27,360 1,874,707 * Versar, Inc. 15,761 74,550 Viad Corp. 33,305 889,244 * Vicor Corp. 34,427 303,302 * Virco Manufacturing Corp. 11,119 22,572 * Volt Information Sciences, Inc. 23,850 207,495 VSE Corp. 6,890 301,782 #* Wabash National Corp. 118,273 1,379,063 * WABCO Holdings, Inc. 27,768 2,379,162 Wabtec Corp. 109,846 7,160,861 # Waste Connections, Inc. 188,274 8,046,831 Waste Management, Inc. 185,963 8,096,829 # Watsco, Inc. 40,177 3,828,466 # Watsco, Inc. Class B 5,058 483,697 # Watts Water Technologies, Inc. Class A 46,354 2,678,334 # Werner Enterprises, Inc. 117,745 2,726,974 * Wesco Aircraft Holdings, Inc. 23,646 433,195 #* WESCO International, Inc. 75,503 6,452,486 * Willdan Group, Inc. 7,684 29,353 #* Willis Lease Finance Corp. 8,926 155,580 Woodward, Inc. 93,417 3,745,088 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- -------------- Industrials -- (Continued) WW Grainger, Inc. 13,523 $ 3,637,281 * XPO Logistics, Inc. 28,905 583,303 Xylem, Inc. 126,611 4,368,079 * YRC Worldwide, Inc. 1,770 16,780 -------------- Total Industrials 1,369,096,508 -------------- Information Technology -- (12.6%) #* 3D Systems Corp. 62,072 3,863,361 * Accelrys, Inc. 91,304 853,692 Accenture P.L.C. Class A 51,686 3,798,921 #* ACI Worldwide, Inc. 38,871 2,142,570 * Active Network, Inc. (The) 29,385 424,319 Activision Blizzard, Inc. 265,306 4,414,692 * Actuate Corp. 83,460 668,515 * Acxiom Corp. 127,305 4,230,345 #* ADDvantage Technologies Group, Inc. 7,817 20,715 * Adobe Systems, Inc. 81,557 4,420,389 # ADTRAN, Inc. 96,668 2,269,765 * Advanced Energy Industries, Inc. 67,891 1,417,564 #* Advanced Micro Devices, Inc. 174,600 583,164 * Advanced Photonix, Inc. Class A 1,915 1,341 Advent Software, Inc. 61,382 2,059,366 #* Aehr Test Systems 4,618 11,776 * Aeroflex Holding Corp. 5,086 39,417 * Aetrium, Inc. 646 2,293 * Agilysys, Inc. 36,023 423,270 #* Akamai Technologies, Inc. 113,952 5,098,212 #* Alliance Data Systems Corp. 11,750 2,785,455 #* Alpha & Omega Semiconductor, Ltd. 13,132 96,652 Altera Corp. 89,147 2,995,339 Amdocs, Ltd. 131,808 5,068,018 American Software, Inc. Class A 41,689 364,779 #* Amkor Technology, Inc. 275,673 1,463,824 Amphenol Corp. Class A 32,171 2,583,010 * Amtech Systems, Inc. 11,796 94,368 #* ANADIGICS, Inc. 100,745 203,505 Analog Devices, Inc. 188,989 9,317,158 * Anaren, Inc. 21,628 540,267 * Anixter International, Inc. 49,872 4,263,557 * ANSYS, Inc. 43,080 3,767,346 # AOL, Inc. 145,693 5,279,914 Apple, Inc. 130,247 68,034,520 Applied Materials, Inc. 567,626 10,132,124 * Applied Micro Circuits Corp. 99,747 1,163,050 * ARRIS Group, Inc. 188,152 3,360,395 * Arrow Electronics, Inc. 175,572 8,430,967 * Aruba Networks, Inc. 40,558 760,868 * AsiaInfo-Linkage, Inc. 46,753 542,335 * Aspen Technology, Inc. 14,132 540,266 Astro-Med, Inc. 9,339 118,419 * Atmel Corp. 598,527 4,357,277 * ATMI, Inc. 53,105 1,451,891 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Information Technology -- (Continued) * Autobytel, Inc. 3,757 $ 30,620 * Autodesk, Inc. 41,500 1,656,265 Automatic Data Processing, Inc. 61,357 4,599,934 Avago Technologies, Ltd. 3,697 167,955 #* AVG Technologies NV 18,721 376,292 * Aviat Networks, Inc. 88,527 182,366 * Avid Technology, Inc. 58,708 437,375 Avnet, Inc. 228,393 9,067,202 AVX Corp. 229,798 3,044,823 # Aware, Inc. 26,058 136,283 * Axcelis Technologies, Inc. 47,595 103,281 * AXT, Inc. 45,551 102,945 # Badger Meter, Inc. 22,867 1,189,313 #* Bankrate, Inc. 75,526 1,271,858 Bel Fuse, Inc. Class A 4,354 89,779 Bel Fuse, Inc. Class B 13,898 292,414 * Benchmark Electronics, Inc. 86,360 1,962,963 Black Box Corp. 35,024 877,001 Blackbaud, Inc. 36,147 1,301,292 * Blonder Tongue Laboratories 433 394 #* Blucora, Inc. 68,317 1,614,331 # Booz Allen Hamilton Holding Corp. 49,159 973,348 #* Bottomline Technologies de, Inc. 63,828 2,005,476 Broadcom Corp. Class A 86,283 2,305,482 # Broadridge Financial Solutions, Inc. 63,302 2,225,698 #* BroadVision, Inc. 6,453 62,530 * Brocade Communications Systems, Inc. 759,459 6,090,861 Brooks Automation, Inc. 108,914 1,049,931 * Bsquare Corp. 12,187 39,242 #* BTU International, Inc. 10,388 34,384 CA, Inc. 294,786 9,362,403 * Cabot Microelectronics Corp. 40,967 1,675,141 #* CACI International, Inc. Class A 43,130 3,104,497 #* Cadence Design Systems, Inc. 106,862 1,386,000 * CalAmp Corp. 20,878 491,259 * Calix, Inc. 86,101 875,647 * Cardtronics, Inc. 34,762 1,364,408 * Cascade Microtech, Inc. 18,571 190,167 # Cass Information Systems, Inc. 18,870 1,081,817 #* Ceva, Inc. 35,254 505,190 * Checkpoint Systems, Inc. 68,783 1,170,687 #* China Information Technology, Inc. 20,716 94,672 * ChyronHego Corp. 5,035 7,553 * CIBER, Inc. 152,480 495,560 * Ciena Corp. 77,470 1,802,727 * Cinedigm Corp. 10,917 19,541 #* Cirrus Logic, Inc. 111,773 2,507,068 Cisco Systems, Inc. 3,077,086 69,234,435 * Citrix Systems, Inc. 32,097 1,822,468 #* Clearfield, Inc. 20,285 301,029 Cognex Corp. 141,140 4,410,625 * Cognizant Technology Solutions Corp. Class A 31,155 2,708,304 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Information Technology -- (Continued) #* Cogo Group, Inc. 15,972 $ 37,854 Coherent, Inc. 38,640 2,557,582 Cohu, Inc. 34,325 328,147 Communications Systems, Inc. 17,110 195,225 * CommVault Systems, Inc. 19,732 1,540,675 Computer Sciences Corp. 179,375 8,836,012 # Computer Task Group, Inc. 30,804 527,673 Compuware Corp. 333,104 3,557,551 * comScore, Inc. 18,134 484,540 Comtech Telecommunications Corp. 36,524 1,096,450 * Comverse, Inc. 147 4,642 #* Concur Technologies, Inc. 28,597 2,991,246 Concurrent Computer Corp. 14,271 105,177 * Constant Contact, Inc. 26,607 689,387 # Convergys Corp. 178,498 3,523,551 * CoreLogic, Inc. 164,536 5,474,113 Corning, Inc. 717,350 12,259,511 * CoStar Group, Inc. 36,021 6,375,357 #* Cray, Inc. 67,321 1,505,298 #* Cree, Inc. 188,338 11,441,533 * Crexendo, Inc. 10,564 32,748 CSG Systems International, Inc. 57,052 1,589,469 # CSP, Inc. 2,797 21,145 CTS Corp. 56,634 1,054,525 * CyberOptics Corp. 10,031 50,857 # Cypress Semiconductor Corp. 32,385 300,533 Daktronics, Inc. 71,990 861,000 #* Datalink Corp. 35,705 366,690 #* Dataram Corp. 909 2,218 * Dealertrack Technologies, Inc. 73,591 2,744,944 #* Demand Media, Inc. 49,159 234,980 #* Dice Holdings, Inc. 100,155 739,144 # Diebold, Inc. 108,300 3,244,668 * Digi International, Inc. 40,813 411,395 Digimarc Corp. 9,758 205,503 #* Digital River, Inc. 57,835 1,031,776 * Diodes, Inc. 75,992 1,840,526 # Dolby Laboratories, Inc. Class A 63,150 2,256,981 * Dot Hill Systems Corp. 71,103 206,199 * DSP Group, Inc. 31,722 236,329 DST Systems, Inc. 72,821 6,173,036 #* DTS, Inc. 27,939 558,780 * Dynamics Research Corp. 10,821 80,075 # EarthLink, Inc. 160,358 811,411 * eBay, Inc. 251,850 13,275,013 # Ebix, Inc. 58,742 668,484 * Echelon Corp. 19,608 42,549 * EchoStar Corp. Class A 68,530 3,286,699 * Edgewater Technology, Inc. 10,488 71,843 #* Elecsys Corp. 376 3,301 Electro Rent Corp. 37,359 677,692 Electro Scientific Industries, Inc. 41,652 498,991 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Information Technology -- (Continued) * Electronic Arts, Inc. 144,139 $ 3,783,649 * Electronics for Imaging, Inc. 79,322 2,721,538 #* Ellie Mae, Inc. 13,964 403,560 # eMagin Corp. 12,094 33,259 EMC Corp. 1,056,822 25,437,706 #* Emcore Corp. 33,414 178,097 * Emulex Corp. 154,024 1,159,801 * Entegris, Inc. 231,042 2,391,285 #* Entropic Communications, Inc. 134,859 577,197 * Envestnet, Inc. 15,854 575,500 * EPAM Systems, Inc. 12,562 470,698 EPIQ Systems, Inc. 59,621 891,930 ePlus, Inc. 12,730 692,003 #* Equinix, Inc. 32,137 5,189,483 * Euronet Worldwide, Inc. 83,419 3,620,385 * Exar Corp. 81,869 943,950 * ExlService Holdings, Inc. 54,236 1,567,963 * Extreme Networks 155,567 833,839 * F5 Networks, Inc. 22,500 1,833,975 * Fabrinet 21,042 352,243 # FactSet Research Systems, Inc. 15,644 1,704,257 Fair Isaac Corp. 57,154 3,273,781 #* Fairchild Semiconductor International, Inc. 222,324 2,816,845 #* FalconStor Software, Inc. 50,770 75,140 * FARO Technologies, Inc. 23,445 1,113,637 FEI Co. 55,099 4,908,219 Fidelity National Information Services, Inc. 297,338 14,495,227 #* Finisar Corp. 164,974 3,796,052 #* First Solar, Inc. 166,287 8,359,247 * Fiserv, Inc. 101,033 10,581,186 * FleetCor Technologies, Inc. 1,688 194,711 FLIR Systems, Inc. 202,624 5,770,732 * FormFactor, Inc. 94,433 492,940 # Forrester Research, Inc. 34,126 1,324,430 * Fortinet, Inc. 24,220 487,064 * Freescale Semiconductor, Ltd. 102,749 1,586,445 Frequency Electronics, Inc. 10,710 118,988 #* Fusion-io, Inc. 300 3,225 * Gartner, Inc. 35,704 2,104,751 * Genpact, Ltd. 234,177 4,643,730 #* GigOptix, Inc. 3,988 5,583 * Global Cash Access Holdings, Inc. 114,399 949,512 Global Payments, Inc. 103,620 6,163,318 Globalscape, Inc. 11,741 19,666 #* Globecomm Systems, Inc. 36,811 516,458 * Google, Inc. Class A 30,564 31,498,647 * GSE Systems, Inc. 19,854 33,752 * GSI Group, Inc. 50,058 499,579 * GSI Technology, Inc. 37,756 265,047 #* GT Advanced Technologies, Inc. 125,682 942,615 #* Guidance Software, Inc. 17,697 154,672 #* Guidewire Software, Inc. 2,214 112,294 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Information Technology -- (Continued) Hackett Group, Inc. (The) 60,552 $ 431,130 * Harmonic, Inc. 177,547 1,297,869 Harris Corp. 87,438 5,417,658 * Hauppauge Digital, Inc. 5,400 1,906 # Heartland Payment Systems, Inc. 43,083 1,742,707 Hewlett-Packard Co. 1,055,382 25,719,659 * Hittite Microwave Corp. 35,437 2,264,070 * Hutchinson Technology, Inc. 31,174 115,967 IAC/InterActiveCorp 165,687 8,846,029 #* ID Systems, Inc. 15,829 82,311 * Identive Group, Inc. 25,290 16,183 #* IEC Electronics Corp. 9,658 41,529 * iGATE Corp. 52,672 1,677,076 #* iGO, Inc. 868 2,543 * Ikanos Communications, Inc. 23,895 31,302 * Imation Corp. 54,588 253,834 * Immersion Corp. 28,268 359,569 #* Infinera Corp. 199,026 2,032,055 * Informatica Corp. 35,103 1,354,976 * Ingram Micro, Inc. Class A 259,483 6,012,221 #* Innodata, Inc. 31,335 75,204 #* Inphi Corp. 35,425 522,165 * Insight Enterprises, Inc. 80,314 1,692,216 * Integrated Device Technology, Inc. 244,054 2,596,735 * Integrated Silicon Solution, Inc. 47,624 513,387 Intel Corp. 2,859,210 69,850,500 #* Intellicheck Mobilisa, Inc. 7,700 3,465 * Interactive Intelligence Group, Inc. 20,026 1,230,598 InterDigital, Inc. 38,866 1,506,057 * Internap Network Services Corp. 89,721 652,272 International Business Machines Corp. 104,255 18,683,539 * International Rectifier Corp. 122,319 3,185,187 * Interphase Corp. 5,636 22,939 Intersil Corp. Class A 209,564 2,338,734 inTEST Corp. 3,806 14,653 #* Intevac, Inc. 31,727 161,808 * IntraLinks Holdings, Inc. 5,621 58,402 * IntriCon Corp. 8,894 39,400 # Intuit, Inc. 34,988 2,498,493 #* Inuvo, Inc. 3,679 6,034 #* InvenSense, Inc. 4,750 80,228 # IPG Photonics Corp. 66,639 4,416,167 * Iteris, Inc. 12,775 26,189 #* Itron, Inc. 60,096 2,564,296 * Ixia 122,922 1,743,034 IXYS Corp. 47,132 548,145 # j2 Global, Inc. 85,185 4,683,471 Jabil Circuit, Inc. 354,338 7,391,491 Jack Henry & Associates, Inc. 86,922 4,746,810 #* JDS Uniphase Corp. 315,326 4,127,617 * Juniper Networks, Inc. 537,534 10,019,634 #* Kemet Corp. 64,457 365,471 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Information Technology -- (Continued) * Key Tronic Corp. 14,320 $ 155,372 KLA-Tencor Corp. 120,499 7,904,734 * Kopin Corp. 98,511 361,535 * Kulicke & Soffa Industries, Inc. 125,302 1,616,396 * KVH Industries, Inc. 26,340 361,912 * Lam Research Corp. 210,202 11,399,254 * Lattice Semiconductor Corp. 190,322 976,352 # Leidos Holdings, Inc. 127,154 5,987,670 Lender Processing Services, Inc. 41,517 1,433,167 Lexmark International, Inc. Class A 105,325 3,744,304 * LGL Group, Inc. (The) 2,633 15,640 #* Limelight Networks, Inc. 150,081 288,156 # Linear Technology Corp. 47,472 1,952,998 * Lionbridge Technologies, Inc. 86,241 376,011 #* Liquidity Services, Inc. 4,258 111,176 Littelfuse, Inc. 39,189 3,332,241 * LogMeIn, Inc. 4,883 157,721 * LoJack Corp. 43,904 192,300 LSI Corp. 266,959 2,263,812 #* LTX-Credence Corp. 78,246 479,648 * M/A-COM Technology Solutions Holdings, Inc. 1,751 30,240 * Magnachip Semiconductor Corp. 60,645 1,133,455 * Management Network Group, Inc. 3,573 9,861 * Manhattan Associates, Inc. 33,551 3,573,517 # ManTech International Corp. Class A 37,782 1,055,629 Marchex, Inc. Class B 38,409 342,608 Marvell Technology Group, Ltd. 499,681 5,996,172 Mastercard, Inc. Class A 10,047 7,204,704 #* Mattersight Corp. 5,001 21,154 #* Mattson Technology, Inc. 81,264 240,541 Maxim Integrated Products, Inc. 149,481 4,439,586 MAXIMUS, Inc. 112,800 5,465,160 * MaxLinear, Inc. Class A 18,275 158,262 #* Maxwell Technologies, Inc. 44,438 333,285 * Measurement Specialties, Inc. 27,240 1,518,085 #* Mediabistro, Inc. 942 1,696 Mentor Graphics Corp. 187,926 4,149,406 #* Mercury Systems, Inc. 45,384 418,440 Mesa Laboratories, Inc. 5,740 399,676 Methode Electronics, Inc. 63,895 1,634,434 Micrel, Inc. 97,988 901,490 # Microchip Technology, Inc. 89,457 3,843,073 #* Micron Technology, Inc. 1,086,356 19,206,774 #* MICROS Systems, Inc. 59,747 3,241,275 * Microsemi Corp. 160,256 4,027,233 Microsoft Corp. 932,130 32,950,795 #* Millennial Media, Inc. 36,688 257,917 #* Mindspeed Technologies, Inc. 66,142 191,150 MKS Instruments, Inc. 88,993 2,637,753 # MOCON, Inc. 8,521 118,868 * ModusLink Global Solutions, Inc. 57,190 235,623 Molex, Inc. 109,975 4,245,035 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Information Technology -- (Continued) Molex, Inc. Class A 94,244 $ 3,628,394 * MoneyGram International, Inc. 18,939 399,802 Monolithic Power Systems, Inc. 59,761 1,902,790 # Monotype Imaging Holdings, Inc. 58,179 1,641,811 #* Monster Worldwide, Inc. 170,844 738,046 #* MoSys, Inc. 65,993 290,369 Motorola Solutions, Inc. 63,769 3,986,838 * Move, Inc. 61,085 1,036,612 MTS Systems Corp. 24,108 1,574,735 * Multi-Fineline Electronix, Inc. 34,615 464,187 #* Nanometrics, Inc. 36,544 678,988 * NAPCO Security Technologies, Inc. 12,622 70,936 National Instruments Corp. 36,646 1,064,566 * NCI, Inc. Class A 10,441 59,514 * NCR Corp. 134,305 4,908,848 NetApp, Inc. 224,398 8,708,886 #* NETGEAR, Inc. 61,975 1,782,401 #* Netlist, Inc. 31,529 25,863 * Netscout Systems, Inc. 69,780 1,976,170 #* NetSuite, Inc. 15,289 1,542,354 * NeuStar, Inc. Class A 56,098 2,576,020 * Newport Corp. 64,300 1,020,441 * Newtek Business Services, Inc. 14,356 41,776 NIC, Inc. 37,300 918,326 #* Novatel Wireless, Inc. 48,740 149,388 #* Nuance Communications, Inc. 212,058 3,299,622 #* Numerex Corp. Class A 16,698 197,203 # NVIDIA Corp. 406,868 6,176,256 #* Oclaro, Inc. 106,869 218,013 * Official Payments Holdings, Inc. 20,570 171,554 #* OmniVision Technologies, Inc. 90,827 1,272,486 * ON Semiconductor Corp. 610,478 4,309,975 #* Onvia, Inc. 1,484 7,272 * OpenTable, Inc. 1,813 125,967 * Oplink Communications, Inc. 31,981 583,653 # Optical Cable Corp. 8,150 32,519 Oracle Corp. 517,147 17,324,424 * OSI Systems, Inc. 35,144 2,559,889 #* Overland Storage, Inc. 1,066 959 #* Pandora Media, Inc. 7,765 195,134 * PAR Technology Corp. 17,200 95,632 Park Electrochemical Corp. 30,101 844,333 #* Parkervision, Inc. 3,828 10,489 # Paychex, Inc. 55,438 2,342,810 PC Connection, Inc. 37,385 747,326 PC-Tel, Inc. 30,780 283,484 #* PCM, Inc. 12,993 136,686 * PDF Solutions, Inc. 41,437 951,808 Pegasystems, Inc. 6,775 257,857 Perceptron, Inc. 10,412 145,664 * Perficient, Inc. 57,342 1,037,317 * Performance Technologies, Inc. 5,773 17,896 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Information Technology -- (Continued) * Pericom Semiconductor Corp. 34,672 $ 280,150 * Photronics, Inc. 99,710 837,564 #* Pixelworks, Inc. 17,904 81,105 * Planar Systems, Inc. 19,314 40,366 Plantronics, Inc. 75,505 3,242,185 * Plexus Corp. 56,530 2,163,968 * PLX Technology, Inc. 55,424 334,761 * PMC - Sierra, Inc. 348,768 2,047,268 #* Polycom, Inc. 280,602 2,918,261 Power Integrations, Inc. 42,415 2,436,318 * PRGX Global, Inc. 35,819 257,180 #* Procera Networks, Inc. 6,437 91,084 * Progress Software Corp. 95,302 2,474,040 * PROS Holdings, Inc. 22,703 802,551 * PTC, Inc. 152,394 4,224,362 #* Pulse Electronics Corp. 18 67 QAD, Inc. Class A 13,973 208,477 # QAD, Inc. Class B 4,740 59,724 * QLIK Technologies, Inc. 7,555 191,444 * QLogic Corp. 148,420 1,832,987 QUALCOMM, Inc. 214,176 14,878,807 * Qualstar Corp. 8,094 10,603 #* Quantum Corp. 185,179 229,622 #* QuickLogic Corp. 18,388 70,794 * QuinStreet, Inc. 15,854 140,942 * Qumu Corp. 13,779 206,409 #* Rackspace Hosting, Inc. 20,042 1,026,752 * Radisys Corp. 40,860 123,397 * Rainmaker Systems, Inc. 16,080 8,040 #* Rambus, Inc. 194,593 1,700,743 #* RealD, Inc. 38,278 264,884 * RealNetworks, Inc. 50,719 389,015 * Red Hat, Inc. 54,458 2,356,398 * Reis, Inc. 16,269 292,679 #* Relm Wireless Corp. 4,040 10,625 #* Remark Media, Inc. 1,990 6,945 * Responsys, Inc. 16,464 269,022 # RF Industries, Ltd. 10,694 98,278 #* RF Micro Devices, Inc. 468,193 2,458,013 Richardson Electronics, Ltd. 20,031 230,757 #* Riverbed Technology, Inc. 119,752 1,774,725 * Rofin-Sinar Technologies, Inc. 42,160 1,106,700 * Rogers Corp. 27,369 1,668,414 * Rosetta Stone, Inc. 37,189 564,529 * Rovi Corp. 164,204 2,752,059 #* Rubicon Technology, Inc. 33,298 286,363 #* Rudolph Technologies, Inc. 52,178 553,087 * Saba Software, Inc. 27,173 315,207 * Salesforce.com, Inc. 72,800 3,884,608 SanDisk Corp. 124,559 8,656,850 * Sanmina Corp. 139,050 2,024,568 * Sapient Corp. 226,185 3,575,985 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Information Technology -- (Continued) * ScanSource, Inc. 43,593 $ 1,676,587 # Science Applications International Corp. 72,659 2,561,230 #* Scientific Learning Corp. 11,264 5,575 * Seachange International, Inc. 52,851 749,956 Seagate Technology P.L.C. 292,776 14,252,336 * Selectica, Inc. 538 3,648 * Semtech Corp. 108,911 3,388,221 #* Sevcon, Inc. 1,585 7,529 * ShoreTel, Inc. 99,589 791,733 * Sigma Designs, Inc. 51,332 279,246 #* Silicon Graphics International Corp. 36,240 462,785 * Silicon Image, Inc. 133,793 702,413 * Silicon Laboratories, Inc. 72,009 2,896,202 * Skyworks Solutions, Inc. 270,104 6,963,281 * Smith Micro Software, Inc. 43,203 34,994 * SMTC Corp. 1,900 3,705 * SolarWinds, Inc. 28,047 1,015,021 Solera Holdings, Inc. 14,470 813,503 #* Sonic Foundry, Inc. 619 6,153 #* Sonus Networks, Inc. 490,866 1,472,598 #* Spansion, Inc. Class A 95,073 1,138,024 #* Spark Networks, Inc. 20,866 149,401 #* Speed Commerce, Inc. 45,303 166,262 * SS&C Technologies Holdings, Inc. 110,081 4,326,183 * Stamps.com, Inc. 24,686 1,121,732 * StarTek, Inc. 16,081 100,667 #* STR Holdings, Inc. 3,848 7,658 #* Stratasys, Ltd. 51,495 5,830,779 * SunEdison, Inc. 384,783 3,578,482 #* SunPower Corp. 188,978 5,705,246 * Super Micro Computer, Inc. 63,141 878,923 Supertex, Inc. 18,275 466,195 * support.com, Inc. 85,790 382,623 * Sykes Enterprises, Inc. 74,807 1,400,387 Symantec Corp. 202,900 4,613,946 * Symmetricom, Inc. 62,080 445,114 #* Synaptics, Inc. 56,369 2,621,158 #* Synchronoss Technologies, Inc. 29,319 1,015,024 * SYNNEX Corp. 63,020 3,863,126 * Synopsys, Inc. 98,578 3,593,168 Syntel, Inc. 20,935 1,797,060 * Take-Two Interactive Software, Inc. 159,832 2,862,591 TE Connectivity, Ltd. 220,600 11,358,694 * Tech Data Corp. 64,424 3,353,913 * TeleCommunication Systems, Inc. Class A 80,413 183,342 * Telenav, Inc. 57,342 415,730 * TeleTech Holdings, Inc. 88,104 2,332,113 Tellabs, Inc. 579,890 1,414,932 * Teradata Corp. 30,060 1,324,744 #* Teradyne, Inc. 329,675 5,766,016 # Tessco Technologies, Inc. 14,125 500,449 Tessera Technologies, Inc. 89,148 1,695,595 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Information Technology -- (Continued) Texas Instruments, Inc. 148,207 $ 6,236,551 #* TheStreet, Inc. 30,782 72,338 * TIBCO Software, Inc. 51,980 1,276,629 * TiVo, Inc. 66,288 880,968 Total System Services, Inc. 251,901 7,514,207 # Transact Technologies, Inc. 12,325 169,962 #* Trimble Navigation, Ltd. 45,590 1,302,506 * Trio Tech International 3,963 13,276 * TriQuint Semiconductor, Inc. 269,965 2,140,822 * Trulia, Inc. 4,035 161,279 # TSR, Inc. 751 2,546 * TTM Technologies, Inc. 117,114 1,024,748 * Tyler Technologies, Inc. 31,179 3,015,321 * Ultimate Software Group, Inc. 6,001 927,034 * Ultra Clean Holdings 31,297 291,375 * Ultratech, Inc. 45,332 1,078,448 #* Unisys Corp. 50,672 1,335,207 United Online, Inc. 157,796 1,363,357 #* Unwired Planet, Inc. 83,139 134,685 #* USA Technologies, Inc. 16,331 31,192 * UTStarcom Holdings Corp. 23,800 66,640 #* ValueClick, Inc. 126,220 2,424,686 #* Veeco Instruments, Inc. 62,256 1,818,498 * VeriFone Systems, Inc. 116,920 2,649,407 * Verint Systems, Inc. 48,174 1,759,314 #* VeriSign, Inc. 39,976 2,169,897 #* ViaSat, Inc. 69,289 4,581,389 #* Viasystems Group, Inc. 26,304 394,560 * Vicon Industries, Inc. 3,400 10,030 * Video Display Corp. 10,670 38,625 #* Virtusa Corp. 54,146 1,682,858 Visa, Inc. Class A 196,429 38,631,691 #* Vishay Intertechnology, Inc. 228,400 2,802,468 * Vishay Precision Group, Inc. 24,604 403,506 #* VistaPrint NV 36,517 1,973,744 * VMware, Inc. Class A 8,843 718,759 #* Wave Systems Corp. Class A 2,000 2,720 Wayside Technology Group, Inc. 5,310 69,561 #* Web.com Group, Inc. 74,635 2,011,413 #* WebMD Health Corp. 71,197 2,507,558 * Westell Technologies, Inc. Class A 69,684 250,166 Western Digital Corp. 226,163 15,747,730 # Western Union Co. (The) 89,952 1,530,983 * WEX, Inc. 43,750 4,084,062 * Wireless Telecom Group, Inc. 9,995 17,891 Xerox Corp. 1,371,055 13,628,287 Xilinx, Inc. 142,458 6,470,442 * XO Group, Inc. 44,111 612,261 Xyratex, Ltd. 45,355 450,829 * Yahoo!, Inc. 623,942 20,546,410 * Zebra Technologies Corp. Class A 86,754 4,191,086 #* Zillow, Inc. Class A 104 8,282 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ --------- -------------- Information Technology -- (Continued) #* Zix Corp. 103,966 $ 424,181 * Zygo Corp. 29,601 457,039 * Zynga, Inc. Class A 1,044,975 3,751,460 -------------- Total Information Technology 1,390,651,745 -------------- Materials -- (4.4%) A Schulman, Inc. 48,680 1,612,282 #* AEP Industries, Inc. 9,259 550,170 Air Products & Chemicals, Inc. 35,450 3,864,404 Airgas, Inc. 56,913 6,207,501 Albemarle Corp. 39,910 2,641,643 # Alcoa, Inc. 1,148,859 10,649,923 # Allegheny Technologies, Inc. 180,855 5,986,300 #* Allied Nevada Gold Corp. 17,205 70,196 #* AM Castle & Co. 37,054 530,243 AMCOL International Corp. 52,152 1,673,036 * American Biltrite, Inc. 36 14,585 * American Pacific Corp. 9,539 434,215 American Vanguard Corp. 41,677 1,087,770 Aptargroup, Inc. 84,980 5,452,317 #* Arabian American Development Co. 13,281 120,857 Ashland, Inc. 85,486 7,911,729 Avery Dennison Corp. 160,192 7,548,247 Axiall Corp. 67,854 2,638,842 Balchem Corp. 25,737 1,473,701 Ball Corp. 55,054 2,691,590 # Bemis Co., Inc. 169,804 6,775,180 Cabot Corp. 106,763 4,976,223 * Calgon Carbon Corp. 92,622 1,847,809 # Carpenter Technology Corp. 71,346 4,232,958 Celanese Corp. Series A 27,600 1,545,876 #* Century Aluminum Co. 155,129 1,346,520 CF Industries Holdings, Inc. 43,083 9,288,695 # Chase Corp. 11,789 356,735 * Chemtura Corp. 165,714 4,059,993 * Clearwater Paper Corp. 35,564 1,857,152 # Cliffs Natural Resources, Inc. 259,309 6,659,055 * Coeur d'Alene Mines Corp. 145,280 1,773,869 Commercial Metals Co. 196,815 3,613,523 # Compass Minerals International, Inc. 13,558 1,009,664 * Contango ORE, Inc. 1,821 16,753 * Continental Materials Corp. 1,019 17,822 #* Core Molding Technologies, Inc. 11,130 120,204 * Crown Holdings, Inc. 37,000 1,613,200 Cytec Industries, Inc. 73,731 6,126,309 Deltic Timber Corp. 16,051 1,025,338 Domtar Corp. 59,170 5,012,291 Dow Chemical Co. (The) 627,320 24,760,320 Eagle Materials, Inc. 69,674 5,226,247 Eastman Chemical Co. 66,655 5,251,747 Ecolab, Inc. 61,063 6,472,678 EI du Pont de Nemours & Co. 117,889 7,214,807 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Materials -- (Continued) * Ferro Corp. 141,719 $ 1,818,255 #* Flotek Industries, Inc. 12,189 260,601 FMC Corp. 45,000 3,274,200 Freeport-McMoRan Copper & Gold, Inc. 544,659 20,021,665 Friedman Industries, Inc. 13,567 134,585 FutureFuel Corp. 38,589 671,834 #* General Moly, Inc. 142,545 233,774 Globe Specialty Metals, Inc. 125,218 2,196,324 #* Golden Minerals Co. 19,506 15,020 * Graphic Packaging Holding Co. 540,426 4,539,578 Greif, Inc. Class A 41,693 2,230,159 Greif, Inc. Class B 28,377 1,613,232 Hawkins, Inc. 16,367 589,376 Haynes International, Inc. 19,905 1,072,880 HB Fuller Co. 84,744 4,056,695 #* Headwaters, Inc. 76,455 667,452 # Hecla Mining Co. 451,137 1,407,547 #* Horsehead Holding Corp. 75,719 1,098,683 Huntsman Corp. 386,450 8,973,369 Innophos Holdings, Inc. 37,426 1,875,791 Innospec, Inc. 40,077 1,845,947 International Flavors & Fragrances, Inc. 17,200 1,421,580 International Paper Co. 256,800 11,455,848 # Intrepid Potash, Inc. 102,060 1,515,591 # Kaiser Aluminum Corp. 29,817 2,011,157 KapStone Paper and Packaging Corp. 81,994 4,260,408 KMG Chemicals, Inc. 17,877 357,182 Koppers Holdings, Inc. 15,719 699,653 * Kraton Performance Polymers, Inc. 53,243 1,132,479 Kronos Worldwide, Inc. 84,537 1,311,169 #* Landec Corp. 42,497 497,640 * Louisiana-Pacific Corp. 217,242 3,695,286 * LSB Industries, Inc. 36,702 1,347,697 LyondellBasell Industries NV Class A 92,925 6,932,205 # Martin Marietta Materials, Inc. 54,831 5,378,373 #* Material Sciences Corp. 8,954 83,093 Materion Corp. 33,963 1,012,437 #* McEwen Mining, Inc. 271,668 581,370 MeadWestvaco Corp. 177,786 6,195,842 #* Mercer International, Inc. 78,277 626,216 Minerals Technologies, Inc. 58,469 3,311,099 #* Mines Management, Inc. 13,118 7,871 #* Molycorp, Inc. 13,274 67,299 Monsanto Co. 66,246 6,947,880 Mosaic Co. (The) 161,767 7,417,017 Myers Industries, Inc. 59,040 1,052,093 Neenah Paper, Inc. 27,653 1,137,644 # NewMarket Corp. 16,011 4,985,185 Newmont Mining Corp. 257,402 7,016,779 # Noranda Aluminum Holding Corp. 38,891 105,784 #* Northern Technologies International Corp. 5,900 100,359 Nucor Corp. 185,428 9,599,608 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Materials -- (Continued) # Olin Corp. 128,950 $2,902,664 Olympic Steel, Inc. 17,696 484,340 * OM Group, Inc. 51,767 1,760,078 * OMNOVA Solutions, Inc. 73,595 640,277 * Owens-Illinois, Inc. 192,526 6,120,402 Packaging Corp. of America 121,239 7,550,765 #* Penford Corp. 22,102 300,587 PH Glatfelter Co. 63,321 1,659,010 PolyOne Corp. 153,124 4,639,657 PPG Industries, Inc. 20,779 3,793,830 Praxair, Inc. 34,453 4,296,634 Quaker Chemical Corp. 21,816 1,656,053 Reliance Steel & Aluminum Co. 116,824 8,562,031 * Resolute Forest Products, Inc. 5,403 86,394 Rock Tenn Co. Class A 71,019 7,599,743 Rockwood Holdings, Inc. 98,930 6,257,322 # Royal Gold, Inc. 72,115 3,464,405 RPM International, Inc. 169,023 6,544,571 * RTI International Metals, Inc. 49,088 1,664,083 # Schnitzer Steel Industries, Inc. Class A 43,049 1,250,143 Schweitzer-Mauduit International, Inc. 52,516 3,249,690 Scotts Miracle-Gro Co. (The) Class A 33,010 1,938,347 Sealed Air Corp. 292,855 8,838,364 #* Senomyx, Inc. 26,984 99,841 Sensient Technologies Corp. 84,588 4,409,572 Sherwin-Williams Co. (The) 19,100 3,590,800 Sigma-Aldrich Corp. 22,268 1,924,623 Silgan Holdings, Inc. 38,508 1,735,556 #* Silver Bull Resources, Inc. 8,400 2,982 #* Solitario Exploration & Royalty Corp. 2,615 2,327 Sonoco Products Co. 131,402 5,340,177 # Southern Copper Corp. 25,873 723,150 Steel Dynamics, Inc. 370,777 6,662,863 Stepan Co. 36,529 2,150,462 * Stillwater Mining Co. 199,600 2,177,636 * SunCoke Energy, Inc. 110,706 2,214,120 Synalloy Corp. 11,060 177,955 #* Texas Industries, Inc. 46,329 2,487,867 Tredegar Corp. 33,747 986,087 Tronox, Ltd. Class A 77,650 1,792,938 * United States Lime & Minerals, Inc. 8,386 465,926 # United States Steel Corp. 245,514 6,110,843 #* Universal Stainless & Alloy Products, Inc. 10,522 340,071 # US Silica Holdings, Inc. 12,176 423,968 # Valhi, Inc. 118,994 2,185,920 Valspar Corp. (The) 86,283 6,037,222 #* Verso Paper Corp. 33,897 24,236 # Vulcan Materials Co. 138,741 7,429,581 # Walter Energy, Inc. 58,723 933,108 # Wausau Paper Corp. 82,248 962,302 Westlake Chemical Corp. 89,408 9,604,207 Worthington Industries, Inc. 116,045 4,704,464 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ --------- ------------ Materials -- (Continued) * WR Grace & Co. 39,559 $ 3,625,978 Zep, Inc. 31,221 620,986 * Zoltek Cos., Inc. 53,350 890,945 ------------ Total Materials 492,319,433 ------------ Other -- (0.0%) (d)* Brooklyn Federal Bancorp, Inc. Escrow Shares 7,873 -- (d)* Concord Camera Corp. Escrow Shares 2,339 -- (d)* FRD Acquisition Co Escrow Shares 4,235 -- (d)* Gerber Scientific, Inc. Escrow Shares 30,731 -- (d)* Price Communications Liquidation Trust 11,700 -- (d)* Softbrands, Inc. Escrow Shares 14,700 -- ------------ Total Other -- ------------ Telecommunication Services -- (2.3%) #* 8x8, Inc. 64,500 739,170 Alaska Communications Systems Group, Inc. 1,200 2,952 # Alteva 9,033 69,102 AT&T, Inc. 3,049,991 110,409,674 Atlantic Tele-Network, Inc. 22,907 1,269,506 #* Boingo Wireless, Inc. 16,070 108,955 * Cbeyond, Inc. 45,512 293,097 CenturyLink, Inc. 303,450 10,274,817 * Cincinnati Bell, Inc. 195,742 559,822 # Consolidated Communications Holdings, Inc. 67,471 1,256,985 * Crown Castle International Corp. 29,691 2,257,110 # Frontier Communications Corp. 1,664,467 7,340,299 * General Communication, Inc. Class A 64,916 617,351 #* Hawaiian Telcom Holdco, Inc. 367 9,755 # HickoryTech Corp. 18,507 247,624 IDT Corp. Class B 37,561 822,210 Inteliquent, Inc. 56,276 723,147 #* Iridium Communications, Inc. 104,650 631,040 * Leap Wireless International, Inc. 89,942 1,448,066 #* Level 3 Communications, Inc. 87,406 2,670,253 # Lumos Networks Corp. 27,323 601,379 #* NII Holdings, Inc. 116,994 402,459 # NTELOS Holdings Corp. 36,307 691,285 * ORBCOMM, Inc. 66,840 403,045 * Premiere Global Services, Inc. 87,044 784,266 # PTGi Holding, Inc. 10,474 36,869 * SBA Communications Corp. Class A 23,603 2,064,554 # Shenandoah Telecommunications Co. 36,846 1,021,740 #* Sprint Corp. 674,445 4,539,015 #* Straight Path Communications, Inc. Class B 17,280 94,349 T-Mobile US, Inc. 148,152 4,108,255 Telephone & Data Systems, Inc. 169,460 5,283,763 * tw telecom, Inc. 117,288 3,696,918 United States Cellular Corp. 47,624 2,305,002 # USA Mobility, Inc. 33,971 506,847 Verizon Communications, Inc. 1,449,236 73,200,910 * Vonage Holdings Corp. 316,379 1,180,094 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ --------- ------------ Telecommunication Services -- (Continued) # Windstream Holdings, Inc. 1,037,225 $ 8,868,274 ------------ Total Telecommunication Services 251,539,959 ------------ Utilities -- (1.9%) AES Corp. 469,870 6,620,468 AGL Resources, Inc. 51,100 2,445,646 ALLETE, Inc. 45,224 2,285,169 Alliant Energy Corp. 36,568 1,909,581 Ameren Corp. 50,996 1,845,035 American Electric Power Co., Inc. 58,603 2,744,964 American States Water Co. 43,170 1,229,482 American Water Works Co., Inc. 33,369 1,430,529 # Aqua America, Inc. 105,311 2,651,731 # Artesian Resources Corp. Class A 5,997 137,331 Atmos Energy Corp. 59,486 2,633,445 # Avista Corp. 69,082 1,919,789 Black Hills Corp. 52,278 2,651,540 #* Cadiz, Inc. 5,844 30,097 California Water Service Group 56,064 1,222,195 * Calpine Corp. 370,649 7,475,990 CenterPoint Energy, Inc. 88,887 2,186,620 # Chesapeake Utilities Corp. 12,087 657,654 Cleco Corp. 39,747 1,841,876 CMS Energy Corp. 72,197 1,982,530 Connecticut Water Service, Inc. 10,659 341,621 # Consolidated Edison, Inc. 35,814 2,085,091 # Consolidated Water Co., Ltd. 18,109 272,359 # Delta Natural Gas Co., Inc. 5,328 118,921 Dominion Resources, Inc. 88,695 5,654,306 DTE Energy Co. 38,561 2,666,108 Duke Energy Corp. 97,922 7,023,945 * Dynegy, Inc. 23,958 465,504 Edison International 50,348 2,468,562 El Paso Electric Co. 45,984 1,617,257 Empire District Electric Co. (The) 49,326 1,109,342 Entergy Corp. 37,773 2,444,669 Exelon Corp. 115,961 3,309,527 FirstEnergy Corp. 51,922 1,966,286 Gas Natural, Inc. 5,156 51,405 #* Genie Energy, Ltd. Class B 32,165 332,264 Great Plains Energy, Inc. 97,790 2,292,198 # Hawaiian Electric Industries, Inc. 52,901 1,405,580 # IDACORP, Inc. 56,891 2,935,576 Integrys Energy Group, Inc. 52,641 3,088,974 # ITC Holdings Corp. 35,157 3,536,443 Laclede Group, Inc. (The) 37,509 1,765,549 MDU Resources Group, Inc. 97,688 2,909,149 MGE Energy, Inc. 25,415 1,431,119 Middlesex Water Co. 19,087 395,673 National Fuel Gas Co. 17,489 1,251,338 New Jersey Resources Corp. 46,772 2,152,915 NextEra Energy, Inc. 64,931 5,502,902 U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- -------------- Utilities -- (Continued) NiSource, Inc. 62,838 $ 1,980,654 Northeast Utilities 86,388 3,705,181 # Northwest Natural Gas Co. 28,392 1,233,065 NorthWestern Corp. 44,253 2,028,558 NRG Energy, Inc. 366,437 10,454,448 NV Energy, Inc. 131,215 3,115,044 OGE Energy Corp. 67,992 2,508,905 ONEOK, Inc. 120,513 6,808,984 # Ormat Technologies, Inc. 65,592 1,709,983 # Otter Tail Corp. 40,604 1,211,217 Pepco Holdings, Inc. 118,685 2,288,247 PG&E Corp. 57,765 2,417,465 Piedmont Natural Gas Co., Inc. 54,488 1,860,220 Pinnacle West Capital Corp. 23,500 1,316,705 PNM Resources, Inc. 88,962 2,127,971 # Portland General Electric Co. 64,432 1,849,198 PPL Corp. 90,828 2,782,062 Public Service Enterprise Group, Inc. 207,024 6,935,304 Questar Corp. 212,969 5,038,847 RGC Resources, Inc. 2,942 54,780 SCANA Corp. 25,601 1,193,775 Sempra Energy 35,520 3,237,293 # SJW Corp. 26,109 737,057 # South Jersey Industries, Inc. 35,886 2,137,011 Southern Co. (The) 118,259 4,837,976 Southwest Gas Corp. 53,624 2,909,638 #* Synthesis Energy Systems, Inc. 45,358 30,027 # TECO Energy, Inc. 125,629 2,157,050 UGI Corp. 191,404 7,918,383 # UIL Holdings Corp. 56,770 2,186,780 Unitil Corp. 16,803 507,787 UNS Energy Corp. 46,490 2,300,325 Vectren Corp. 50,387 1,759,514 # Westar Energy, Inc. 83,807 2,649,139 WGL Holdings, Inc. 58,787 2,646,003 # Wisconsin Energy Corp. 46,602 1,962,410 Xcel Energy, Inc. 113,995 3,289,896 # York Water Co. 13,928 288,449 -------------- Total Utilities 210,671,606 -------------- TOTAL COMMON STOCKS 9,966,323,398 -------------- PREFERRED STOCKS -- (0.0%) Other -- (0.0%) (d)* Enron TOPRS 8.125PCT Escrow Shares 1,977 -- -------------- RIGHTS/WARRANTS -- (0.0%) (d)#* Caesars Entertainment Corp. Rights 11/02/13 141,814 324,754 (d)* Capital Bank Corp. Contingent Value Rights 7,309 -- (d)* CVR Energy, Inc. Contingent Value Rights 123,987 -- (d)* LGL Group Inc (The) Warrants 08/06/18 13,165 1,317 (d)#* Magnum Hunter Resources Corp. Warrants 04/15/16 22,231 -- U.S. CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ---------- --------------- (d)* PhotoMedex, Inc. Contingent Value Warrants 12/13/14 888 $ -- (d)* Tejon Ranch Co. Warrants 8/31/16 4,892 26,172 (d)* U.S. Concrete, Inc. Warrants Class A 08/31/17 813 3,252 (d)* U.S. Concrete, Inc. Warrants Class B 08/31/17 813 2,886 --------------- TOTAL RIGHTS/WARRANTS 358,381 --------------- TEMPORARY CASH INVESTMENTS -- (0.3%) State Street Institutional Liquid Reserves, 0.073% 33,428,910 33,428,910 --------------- SHARES/ FACE AMOUNT (000) ---------- SECURITIES LENDING COLLATERAL -- (9.6%) (S)@ DFA Short Term Investment Fund 91,671,614 1,060,640,572 --------------- TOTAL INVESTMENTS -- (100.0%) (Cost $7,891,276,455) $11,060,751,261 =============== U.S. VECTOR EQUITY PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 SHARES VALUE+ ------ ---------- COMMON STOCKS -- (88.1%) Consumer Discretionary -- (13.2%) * 1-800-Flowers.com, Inc. Class A 33,345 $ 181,063 # Aaron's, Inc. 74,639 2,117,508 # Abercrombie & Fitch Co. Class A 10,041 376,337 Advance Auto Parts, Inc. 5,300 525,654 #* Aeropostale, Inc. 25,947 241,048 * AFC Enterprises, Inc. 9,550 425,739 AH Belo Corp. Class A 21,443 172,402 # Ambassadors Group, Inc. 17,553 64,771 * AMC Networks, Inc. Class A 4,922 344,983 Amcon Distributing Co. 438 35,259 #* America's Car-Mart, Inc. 10,824 495,090 #* American Apparel, Inc. 39,246 52,590 * American Axle & Manufacturing Holdings, Inc. 3,339 62,139 American Eagle Outfitters, Inc. 65,699 1,017,677 #* American Public Education, Inc. 9,651 386,330 * ANN, Inc. 17,170 607,131 * Apollo Group, Inc. Class A 38,160 1,018,490 Arctic Cat, Inc. 12,690 664,956 Ark Restaurants Corp. 3,403 72,144 * Asbury Automotive Group, Inc. 29,653 1,424,827 * Ascena Retail Group, Inc. 74,986 1,483,973 #* Ascent Capital Group, Inc. Class A 13,641 1,151,573 # Autoliv, Inc. 575 51,307 * AutoNation, Inc. 18,588 896,499 * Ballantyne Strong, Inc. 13,009 64,915 #* Bally Technologies, Inc. 16,084 1,176,384 #* Barnes & Noble, Inc. 68,629 969,728 Bassett Furniture Industries, Inc. 10,687 149,618 # Beasley Broadcasting Group, Inc. Class A 6,377 55,289 * Beazer Homes USA, Inc. 16,707 303,566 # bebe stores, Inc. 87,536 527,842 * Bed Bath & Beyond, Inc. 4,900 378,868 Belo Corp. Class A 95,888 1,316,542 Best Buy Co., Inc. 25,712 1,100,474 Big 5 Sporting Goods Corp. 26,198 495,404 * Big Lots, Inc. 16,633 604,776 * Biglari Holdings, Inc. 2,128 927,851 #* BJ's Restaurants, Inc. 23,434 634,124 #* Blue Nile, Inc. 1,857 76,267 # Blyth, Inc. 16,340 225,655 Bob Evans Farms, Inc. 29,333 1,674,621 #* Body Central Corp. 7,403 41,457 # Bon-Ton Stores, Inc. (The) 16,943 193,997 #* Books-A-Million, Inc. 13,630 34,211 BorgWarner, Inc. 7,443 767,597 Bowl America, Inc. Class A 2,839 40,811 * Boyd Gaming Corp. 88,809 937,823 * Bravo Brio Restaurant Group, Inc. 8,708 130,010 #* Bridgepoint Education, Inc. 33,030 647,388 Brinker International, Inc. 13,098 581,813 #* Brookfield Residential Properties, Inc. 3,692 81,519 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Consumer Discretionary -- (Continued) Brown Shoe Co., Inc. 47,280 $ 1,060,963 Brunswick Corp. 58,855 2,656,126 # Buckle, Inc. (The) 9,525 466,153 #* Buffalo Wild Wings, Inc. 5,457 778,059 * Build-A-Bear Workshop, Inc. 18,741 147,304 #* Cabela's, Inc. 76,421 4,533,294 # Cablevision Systems Corp. Class A 14,584 226,781 #* Cache, Inc. 17,203 103,734 #* Caesars Entertainment Corp. 27,226 474,277 Callaway Golf Co. 78,413 661,022 * Cambium Learning Group, Inc. 42,184 61,589 # Canterbury Park Holding Corp. 4,963 56,132 #* Capella Education Co. 13,153 801,281 #* Career Education Corp. 81,077 444,302 #* CarMax, Inc. 26,062 1,224,653 * Carmike Cinemas, Inc. 20,117 460,478 Carnival Corp. 68,794 2,383,712 Carriage Services, Inc. 20,067 403,146 #* Carrols Restaurant Group, Inc. 21,299 123,534 Carter's, Inc. 28,571 1,975,685 Cato Corp. (The) Class A 22,224 666,053 #* Cavco Industries, Inc. 7,912 463,406 CBS Corp. Class A 5,310 313,874 CBS Corp. Class B 99,468 5,882,537 CEC Entertainment, Inc. 12,272 568,807 #* Central European Media Enterprises, Ltd. Class A 18,425 56,565 * Charles & Colvard, Ltd. 18,860 100,147 * Charter Communications, Inc. Class A 317 42,554 # Cheesecake Factory, Inc. (The) 34,243 1,617,982 Cherokee, Inc. 3,009 41,283 Chico's FAS, Inc. 16,994 291,447 * Children's Place Retail Stores, Inc. (The) 22,989 1,254,969 * Chipotle Mexican Grill, Inc. 3,000 1,580,910 # Choice Hotels International, Inc. 6,967 324,593 * Christopher & Banks Corp. 33,498 193,283 Churchill Downs, Inc. 16,689 1,433,752 Cinemark Holdings, Inc. 48,992 1,607,428 * Citi Trends, Inc. 16,558 243,071 #* Clear Channel Outdoor Holdings, Inc. Class A 32,196 273,666 * Coast Distribution System (The) 1,632 5,622 * Cobra Electronics Corp. 7,586 22,075 #* Coldwater Creek, Inc. 13,828 13,828 # Collectors Universe 4,583 76,307 # Columbia Sportswear Co. 27,610 1,846,281 Comcast Corp. Class A 336,814 16,025,610 Comcast Corp. Special Class A 83,059 3,845,632 #* Conn's, Inc. 35,937 2,172,032 # Cooper Tire & Rubber Co. 53,922 1,402,511 Core-Mark Holding Co., Inc. 12,663 895,654 #* Corinthian Colleges, Inc. 96,264 206,005 Cracker Barrel Old Country Store, Inc. 6,835 750,961 * Crocs, Inc. 40,215 489,819 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Consumer Discretionary -- (Continued) * Crown Media Holdings, Inc. Class A 18,563 $ 61,629 CSS Industries, Inc. 4,800 124,272 # CST Brands, Inc. 13,513 435,659 CTC Media, Inc. 102,480 1,295,347 Culp, Inc. 11,988 231,968 #* Cumulus Media, Inc. Class A 14,274 85,359 Dana Holding Corp. 67,200 1,317,120 Darden Restaurants, Inc. 5,017 258,526 #* Deckers Outdoor Corp. 9,326 641,909 #* dELiA*s, Inc. 18,616 25,690 * Delta Apparel, Inc. 11,681 220,771 Destination Maternity Corp. 13,230 413,305 * Destination XL Group, Inc. 61,304 426,063 # DeVry, Inc. 56,908 2,042,997 * DGSE Cos., Inc. 3,503 8,757 Dick's Sporting Goods, Inc. 8,194 436,003 #* Digital Generation, Inc. 29,997 379,462 Dillard's, Inc. Class A 46,706 3,828,958 DineEquity, Inc. 19,226 1,577,878 * DIRECTV 22,304 1,393,777 * Discovery Communications, Inc. Class A 5,091 452,692 * Discovery Communications, Inc. Class B 1,000 88,350 * Discovery Communications, Inc. Class C 4,083 337,705 #* Dixie Group, Inc. (The) 7,426 93,568 * Dollar General Corp. 500 28,890 * Dollar Tree, Inc. 13,600 794,240 Domino's Pizza, Inc. 14,558 976,259 Dorman Products, Inc. 32,268 1,568,547 # Dover Downs Gaming & Entertainment, Inc. 15,417 23,280 # DR Horton, Inc. 155,647 2,949,511 #* DreamWorks Animation SKG, Inc. Class A 73,137 2,504,211 Drew Industries, Inc. 19,924 1,001,380 DSW, Inc. Class A 11,488 1,007,153 EDCI Holdings, Inc. 2,070 1,356 #* Education Management Corp. 47,218 722,435 Educational Development Corp. 3,287 9,401 Einstein Noah Restaurant Group, Inc. 13,719 244,747 #* Emerson Radio Corp. 22,180 42,364 * Emmis Communications Corp. Class A 5,300 13,197 #* Empire Resorts, Inc. 3,079 18,905 #* Entercom Communications Corp. Class A 34,348 301,232 Entravision Communications Corp. Class A 40,982 276,219 # Escalade, Inc. 11,212 98,890 # Ethan Allen Interiors, Inc. 27,900 743,256 #* Ever-Glory International Group, Inc. 2,000 8,600 * EW Scripps Co. Class A 51,043 1,011,672 Expedia, Inc. 14,450 850,816 * Express, Inc. 8,782 203,830 #* FAB Universal Corp. 6,407 40,172 Family Dollar Stores, Inc. 8,607 592,850 * Famous Dave's Of America, Inc. 6,706 121,043 #* Federal-Mogul Corp. 72,049 1,476,284 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Consumer Discretionary -- (Continued) * Fiesta Restaurant Group, Inc. 12,924 $ 547,848 * Fifth & Pacific Cos., Inc. 8,867 234,887 Finish Line, Inc. (The) Class A 47,985 1,201,544 * Flanigan's Enterprises, Inc. 300 3,324 Flexsteel Industries, Inc. 5,993 164,568 Foot Locker, Inc. 105,891 3,674,418 Ford Motor Co. 103,911 1,777,917 * Fossil Group, Inc. 12,801 1,624,959 # Fred's, Inc. Class A 41,518 672,592 Frisch's Restaurants, Inc. 5,689 136,934 * Fuel Systems Solutions, Inc. 22,489 403,902 #* Full House Resorts, Inc. 15,960 43,890 * G-III Apparel Group, Ltd. 19,582 1,110,691 * Gaiam, Inc. Class A 17,607 110,396 # GameStop Corp. Class A 124,160 6,806,451 # Gaming Partners International Corp. 9,358 77,671 Gannett Co., Inc. 166,926 4,618,842 Gap, Inc. (The) 23,608 873,260 # Garmin, Ltd. 10,038 469,276 * Geeknet, Inc. 1,266 24,282 * General Motors Co. 105,392 3,894,234 #* Genesco, Inc. 23,119 1,574,635 Gentex Corp. 14,364 422,876 * Gentherm, Inc. 32,496 758,782 # Genuine Parts Co. 10,032 790,823 GNC Holdings, Inc. Class A 1,500 88,230 Goodyear Tire & Rubber Co. (The) 21,200 444,776 Gordmans Stores, Inc. 4,385 43,411 * Grand Canyon Education, Inc. 5,668 267,926 #* Gray Television, Inc. 59,666 504,178 * Gray Television, Inc. Class A 2,300 17,756 Group 1 Automotive, Inc. 26,934 1,723,776 # Guess?, Inc. 16,371 511,594 H&R Block, Inc. 12,252 348,447 * Hallwood Group, Inc. (The) 880 8,408 Hanesbrands, Inc. 7,900 538,148 Harley-Davidson, Inc. 25,800 1,652,232 # Harman International Industries, Inc. 12,590 1,020,042 * Harris Interactive, Inc. 4,286 8,143 Harte-Hanks, Inc. 64,054 510,510 # Hasbro, Inc. 9,200 475,180 # Hastings Entertainment, Inc. 1,695 3,492 Haverty Furniture Cos., Inc. 24,284 675,338 Haverty Furniture Cos., Inc. Class A 1,796 50,288 * Helen of Troy, Ltd. 36,024 1,683,041 #* hhgregg, Inc. 34,055 528,193 #* Hibbett Sports, Inc. 6,651 387,953 Hillenbrand, Inc. 32,488 916,811 #* Hollywood Media Corp. 11,210 20,963 Home Depot, Inc. (The) 52,493 4,088,680 #* HomeAway, Inc. 6,300 186,795 # Hooker Furniture Corp. 10,935 172,773 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Consumer Discretionary -- (Continued) HSN, Inc. 9,953 $ 521,537 * Hyatt Hotels Corp. Class A 6,444 306,734 #* Iconix Brand Group, Inc. 78,132 2,819,784 International Game Technology 1,600 30,080 International Speedway Corp. Class A 29,840 976,066 Interpublic Group of Cos., Inc. (The) 44,149 741,703 Interval Leisure Group, Inc. 27,192 659,950 #* iRobot Corp. 11,711 396,652 * Isle of Capri Casinos, Inc. 36,851 298,862 #* ITT Educational Services, Inc. 2,258 90,591 * Jack in the Box, Inc. 28,568 1,162,146 * Jaclyn, Inc. 400 2,170 # JAKKS Pacific, Inc. 5,955 38,350 * Jarden Corp. 117,655 6,513,381 #* JC Penney Co., Inc. 93,481 701,107 # John Wiley & Sons, Inc. Class A 8,584 431,689 John Wiley & Sons, Inc. Class B 2,087 104,987 Johnson Controls, Inc. 40,164 1,853,569 Johnson Outdoors, Inc. Class A 14,083 386,297 Jones Group, Inc. (The) 92,800 1,442,112 #* Jos A Bank Clothiers, Inc. 24,192 1,160,732 * Journal Communications, Inc. Class A 51,347 428,747 * K12, Inc. 17,693 323,428 # KB Home 74,081 1,257,155 * Kid Brands, Inc. 33,024 46,068 * Kirkland's, Inc. 18,225 323,494 # Kohl's Corp. 23,364 1,327,075 * Kona Grill, Inc. 7,282 99,982 # Koss Corp. 4,404 22,020 * Krispy Kreme Doughnuts, Inc. 59,310 1,438,861 L Brands, Inc. 6,200 388,182 La-Z-Boy, Inc. 53,633 1,237,850 #* Lakeland Industries, Inc. 5,597 30,392 * Lamar Advertising Co. Class A 10,244 468,253 Las Vegas Sands Corp. 19,359 1,359,389 #* LeapFrog Enterprises, Inc. 47,530 406,857 Lear Corp. 6,993 541,188 #* Learning Tree International, Inc. 10,875 31,211 # Leggett & Platt, Inc. 32,695 972,349 # Lennar Corp. Class A 48,243 1,715,039 Lennar Corp. Class B 17,015 501,432 * Libbey, Inc. 8,069 172,273 * Liberty Global P.L.C. Class A 4,816 377,430 * Liberty Global P.L.C. Class B 104 8,168 * Liberty Global P.L.C. Series C 11,174 836,486 * Liberty Interactive Corp. Class A 268,740 7,245,230 * Liberty Interactive Corp. Class B 4,371 117,930 * Liberty Media Corp. Class A 35,948 5,496,809 * Liberty Media Corp. Class B 936 141,121 * Liberty Ventures Series A 17,308 1,858,360 * Liberty Ventures Series B 218 23,520 #* Life Time Fitness, Inc. 43,936 1,995,573 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Consumer Discretionary -- (Continued) Lifetime Brands, Inc. 13,209 $ 206,853 * LIN Media LLC Class A 27,561 677,174 # Lincoln Educational Services Corp. 21,067 100,700 Lithia Motors, Inc. Class A 23,275 1,462,834 * Live Nation Entertainment, Inc. 208,833 4,059,714 #* LKQ Corp. 62,498 2,064,309 Loral Space & Communications, Inc. 11,149 795,704 Lowe's Cos., Inc. 66,542 3,312,461 * Luby's, Inc. 28,310 216,855 #* Lumber Liquidators Holdings, Inc. 3,805 434,493 #* M/I Homes, Inc. 22,045 451,261 # Mac-Gray Corp. 14,033 295,816 Macy's, Inc. 51,241 2,362,722 * Madison Square Garden Co. (The) Class A 43,717 2,645,753 Marcus Corp. 21,011 301,718 Marine Products Corp. 30,157 282,571 * MarineMax, Inc. 25,574 376,705 * Marriott Vacations Worldwide Corp. 8,169 409,104 * Martha Stewart Living Omnimedia Class A 40,187 102,879 Mattel, Inc. 19,217 852,658 # Matthews International Corp. Class A 24,250 984,550 #* McClatchy Co. (The) Class A 64,577 182,107 McDonald's Corp. 6,200 598,424 # MDC Holdings, Inc. 47,401 1,383,635 #* Media General, Inc. Class A 21,300 310,554 Men's Wearhouse, Inc. (The) 55,918 2,365,331 # Meredith Corp. 34,849 1,787,754 * Meritage Homes Corp. 33,071 1,501,093 * MGM Resorts International 270,134 5,143,351 * Modine Manufacturing Co. 51,240 682,517 * Mohawk Industries, Inc. 41,423 5,485,234 * Monarch Casino & Resort, Inc. 17,648 298,428 # Monro Muffler Brake, Inc. 20,712 952,752 # Morningstar, Inc. 3,175 254,921 * Motorcar Parts of America, Inc. 15,959 218,319 Movado Group, Inc. 20,105 937,496 #* MTR Gaming Group, Inc. 24,911 129,537 * Multimedia Games Holding Co., Inc. 19,081 620,323 * Murphy USA, Inc. 26,834 1,088,924 NACCO Industries, Inc. Class A 7,518 428,300 * Nathan's Famous, Inc. 5,206 267,172 National American University Holdings, Inc. 579 2,084 National CineMedia, Inc. 15,788 276,606 #* Nautilus, Inc. 29,587 235,513 * Netflix, Inc. 2,866 924,228 #* Nevada Gold & Casinos, Inc. 1,000 1,050 * New York & Co., Inc. 62,415 319,565 # New York Times Co. (The) Class A 122,664 1,696,443 Newell Rubbermaid, Inc. 18,588 550,762 * News Corp. Class A 29,675 522,280 * News Corp. Class B 7,250 129,992 # Nexstar Broadcasting Group, Inc. Class A 1,441 63,966 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Consumer Discretionary -- (Continued) NIKE, Inc. Class B 2,400 $ 181,824 * Nobility Homes, Inc. 2,463 22,783 # Nordstrom, Inc. 700 42,329 # Nutrisystem, Inc. 15,281 287,283 * NVR, Inc. 1,000 917,320 * O'Reilly Automotive, Inc. 18,013 2,230,190 * Office Depot, Inc. 294,662 1,647,161 OfficeMax, Inc. 95,238 1,426,665 Omnicom Group, Inc. 6,244 425,279 * Orbitz Worldwide, Inc. 64,472 595,721 * Orient-Express Hotels, Ltd. Class A 113,496 1,510,632 #* Outerwall, Inc. 13,260 861,635 * Overstock.com, Inc. 8,272 193,813 # Oxford Industries, Inc. 14,497 1,040,450 #* P&F Industries, Inc. Class A 2,014 15,548 #* Pacific Sunwear of California, Inc. 60,704 163,294 #* Panera Bread Co. Class A 5,200 821,184 Papa John's International, Inc. 6,524 493,671 * Penn National Gaming, Inc. 34,583 2,023,451 Penske Automotive Group, Inc. 78,768 3,120,788 * Pep Boys-Manny Moe & Jack (The) 59,363 768,157 * Perfumania Holdings, Inc. 3,665 17,042 Perry Ellis International, Inc. 17,492 332,523 # PetMed Express, Inc. 19,102 283,474 # PetSmart, Inc. 13,036 948,499 Pier 1 Imports, Inc. 68,065 1,421,197 #* Pinnacle Entertainment, Inc. 52,422 1,226,675 * Point.360 2,600 2,012 # Polaris Industries, Inc. 9,939 1,301,512 Pool Corp. 11,192 608,621 * priceline.com, Inc. 1,900 2,002,277 PulteGroup, Inc. 226,172 3,991,936 PVH Corp. 16,764 2,088,291 * QEP Co., Inc. 1,500 29,625 #* Quiksilver, Inc. 178,954 1,488,897 #* Radio One, Inc. Class D 39,577 118,731 #* RadioShack Corp. 89,952 252,765 Ralph Lauren Corp. 2,157 357,285 #* Reading International, Inc. Class A 11,759 77,845 * Red Lion Hotels Corp. 20,441 123,055 * Red Robin Gourmet Burgers, Inc. 16,700 1,272,206 # Regal Entertainment Group Class A 16,249 308,893 Regis Corp. 66,496 964,192 # Rent-A-Center, Inc. 63,940 2,189,306 #* Rentrak Corp. 4,777 179,090 RG Barry Corp. 18,234 347,905 #* Rick's Cabaret International, Inc. 11,061 124,879 Rocky Brands, Inc. 7,186 108,940 Ross Stores, Inc. 11,816 913,968 Royal Caribbean Cruises, Ltd. 124,720 5,243,229 * Ruby Tuesday, Inc. 69,513 412,212 Ruth's Hospitality Group, Inc. 34,543 421,079 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Consumer Discretionary -- (Continued) # Ryland Group, Inc. (The) 42,610 $1,712,922 #* Saks, Inc. 165,543 2,647,033 Salem Communications Corp. Class A 18,285 151,034 * Sally Beauty Holdings, Inc. 17,750 467,180 # Scholastic Corp. 26,776 768,203 * Scientific Games Corp. Class A 87,041 1,591,109 Scripps Networks Interactive, Inc. Class A 5,300 426,650 #* Sears Holdings Corp. 36,464 2,117,829 #* Select Comfort Corp. 14,500 265,640 Service Corp. International/US 200,775 3,615,958 * SHFL Entertainment, Inc. 45,954 1,065,214 Shiloh Industries, Inc. 19,732 323,999 Shoe Carnival, Inc. 23,096 600,265 * Shutterfly, Inc. 29,705 1,459,704 Signet Jewelers, Ltd. 14,985 1,118,780 # Sinclair Broadcast Group, Inc. Class A 30,200 968,212 Sirius XM Radio, Inc. 127,228 479,650 Six Flags Entertainment Corp. 23,098 868,716 * Skechers U.S.A., Inc. Class A 43,294 1,261,587 * Skyline Corp. 8,700 38,019 Sonic Automotive, Inc. Class A 43,000 958,040 * Sonic Corp. 20,443 394,550 # Sotheby's 14,866 771,545 * Spanish Broadcasting System, Inc. Class A 1,489 5,896 Spartan Motors, Inc. 36,992 251,176 Speedway Motorsports, Inc. 47,584 868,884 * Sport Chalet, Inc. Class A 5,873 6,754 # Stage Stores, Inc. 35,337 729,709 # Standard Motor Products, Inc. 25,888 936,110 #* Standard Pacific Corp. 118,490 939,626 * Stanley Furniture Co., Inc. 13,731 53,414 # Staples, Inc. 71,189 1,147,567 Starwood Hotels & Resorts Worldwide, Inc. 12,073 888,814 * Starz - Liberty Capital Class A 35,948 1,083,832 * Starz - Liberty Capital Class B 936 28,286 Stein Mart, Inc. 46,595 688,208 * Steiner Leisure, Ltd. 10,120 566,922 * Steven Madden, Ltd. 27,422 1,005,821 Stewart Enterprises, Inc. Class A 77,343 1,021,701 * Stoneridge, Inc. 34,684 442,568 Strattec Security Corp. 4,591 186,027 # Strayer Education, Inc. 2,934 115,981 # Sturm Ruger & Co., Inc. 16,895 1,105,102 Superior Industries International, Inc. 29,581 554,644 Superior Uniform Group, Inc. 9,577 144,613 Systemax, Inc. 34,554 328,263 #* Tandy Leather Factory, Inc. 6,870 57,021 Target Corp. 20,714 1,342,060 #* Tempur-Pedic International, Inc. 7,978 305,956 * Tenneco, Inc. 11,900 631,533 #* Tesla Motors, Inc. 402 64,296 Texas Roadhouse, Inc. 51,500 1,412,130 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Consumer Discretionary -- (Continued) # Thor Industries, Inc. 22,804 $1,322,860 Tiffany & Co. 8,300 657,111 Time Warner Cable, Inc. 29,552 3,550,673 Time Warner, Inc. 97,900 6,729,646 TJX Cos., Inc. 22,000 1,337,380 * Toll Brothers, Inc. 151,825 4,992,006 * Tower International, Inc. 1,597 33,888 Town Sports International Holdings, Inc. 11,460 148,063 Tractor Supply Co. 40,000 2,854,000 Trans World Entertainment Corp. 1,500 6,495 #* Trinity Place Holdings, Inc. 9,588 48,419 #* TripAdvisor, Inc. 14,450 1,195,159 * TRW Automotive Holdings Corp. 14,500 1,089,095 * Tuesday Morning Corp. 44,074 623,647 # Tupperware Brands Corp. 5,800 519,970 Twenty-First Century Fox, Inc. Class A 118,700 4,045,296 Twenty-First Century Fox, Inc. Class B 29,000 986,000 * Ulta Salon Cosmetics & Fragrance, Inc. 13,373 1,723,111 #* Under Armour, Inc. Class A 5,666 459,796 * Unifi, Inc. 20,364 496,678 * Universal Electronics, Inc. 17,011 661,898 Universal Technical Institute, Inc. 22,150 294,373 #* UQM Technologies, Inc. 24,036 37,256 * Urban Outfitters, Inc. 5,900 223,492 #* US Auto Parts Network, Inc. 26,854 47,800 Vail Resorts, Inc. 34,827 2,453,562 # Valassis Communications, Inc. 40,476 1,107,423 Value Line, Inc. 3,839 35,818 #* Valuevision Media, Inc. Class A 41,545 221,850 VF Corp. 3,263 701,545 # Viacom, Inc. Class A 1,129 94,328 Viacom, Inc. Class B 15,300 1,274,337 * Visteon Corp. 6,055 466,780 #* Vitacost.com, Inc. 2,367 18,723 #* Vitamin Shoppe, Inc. 4,371 205,044 * VOXX International Corp. 21,635 335,559 # Walking Co. Holdings, Inc. (The) 272 2,448 Walt Disney Co. (The) 118,253 8,110,973 # Washington Post Co. (The) Class B 6,442 4,144,267 Weight Watchers International, Inc. 6,975 223,967 * Wells-Gardner Electronics Corp. 5,523 9,279 # Wendy's Co. (The) 432,368 3,757,278 * West Marine, Inc. 26,719 326,239 #* Wet Seal, Inc. (The) Class A 97,453 322,569 Weyco Group, Inc. 9,446 271,384 Whirlpool Corp. 18,667 2,725,569 Williams-Sonoma, Inc. 10,506 550,935 # Winmark Corp. 2,285 167,285 * Winnebago Industries, Inc. 27,360 811,498 # Wolverine World Wide, Inc. 8,330 480,974 # World Wrestling Entertainment, Inc. Class A 12,783 165,540 Wyndham Worldwide Corp. 32,378 2,149,899 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ------------ Consumer Discretionary -- (Continued) Wynn Resorts, Ltd. 2,100 $ 349,125 #* Zagg, Inc. 13,860 65,696 * Zale Corp. 41,647 650,943 #* Zumiez, Inc. 20,966 621,432 ------------ Total Consumer Discretionary 433,887,859 ------------ Consumer Staples -- (4.4%) Alico, Inc. 7,844 313,446 * Alliance One International, Inc. 93,600 277,992 Altria Group, Inc. 31,900 1,187,637 Andersons, Inc. (The) 20,832 1,545,318 Archer-Daniels-Midland Co. 107,064 4,378,918 Arden Group, Inc. Class A 1,488 193,440 # B&G Foods, Inc. 41,320 1,398,682 Beam, Inc. 76,533 5,150,671 #* Boston Beer Co., Inc. (The) Class A 567 130,178 #* Boulder Brands, Inc. 66,282 1,086,362 Bridgford Foods Corp. 3,414 34,447 Brown-Forman Corp. Class A 3,808 274,481 # Brown-Forman Corp. Class B 3,078 224,632 Bunge, Ltd. 80,340 6,598,324 Cal-Maine Foods, Inc. 20,124 1,020,891 # Calavo Growers, Inc. 9,343 277,394 # Casey's General Stores, Inc. 21,586 1,573,188 # CCA Industries, Inc. 4,700 14,523 #* Central Garden and Pet Co. 20,939 158,927 * Central Garden and Pet Co. Class A 39,325 289,432 * Chiquita Brands International, Inc. 66,569 688,989 Church & Dwight Co., Inc. 10,015 652,477 Coca-Cola Bottling Co. Consolidated 7,453 471,924 Coca-Cola Enterprises, Inc. 26,960 1,125,041 # Coffee Holding Co., Inc. 1,900 10,146 ConAgra Foods, Inc. 21,650 688,686 * Constellation Brands, Inc. Class A 47,901 3,127,935 * Constellation Brands, Inc. Class B 2,058 131,928 Costco Wholesale Corp. 12,989 1,532,702 * Craft Brew Alliance, Inc. 19,964 323,816 #* Crimson Wine Group, Ltd. 10,667 93,336 CVS Caremark Corp. 113,204 7,048,081 * Darling International, Inc. 106,715 2,483,258 * Dean Foods Co. 78,357 1,527,961 #* Diamond Foods, Inc. 13,157 321,162 * Dole Food Co., Inc. 99,093 1,342,710 Dr Pepper Snapple Group, Inc. 11,225 531,504 #* Elizabeth Arden, Inc. 22,890 828,389 Energizer Holdings, Inc. 6,412 629,081 * Farmer Bros Co. 17,123 309,241 Flowers Foods, Inc. 36,564 926,532 Fresh Del Monte Produce, Inc. 66,154 1,759,035 #* Fresh Market, Inc. (The) 1,900 96,729 General Mills, Inc. 16,200 816,804 Golden Enterprises, Inc. 5,537 23,200 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Consumer Staples -- (Continued) #* Green Mountain Coffee Roasters, Inc. 9,300 $ 584,133 # Griffin Land & Nurseries, Inc. 4,473 147,609 #* Hain Celestial Group, Inc. (The) 44,460 3,700,406 * Harbinger Group, Inc. 8,293 90,311 Harris Teeter Supermarkets, Inc. 42,875 2,114,595 # Herbalife, Ltd. 7,400 479,668 Hillshire Brands Co. 7,100 233,093 # Hormel Foods Corp. 18,128 787,843 #* IGI Laboratories, Inc. 1,128 2,470 Ingles Markets, Inc. Class A 14,627 377,523 Ingredion, Inc. 16,501 1,085,106 Inter Parfums, Inc. 31,754 1,116,471 * Inventure Foods, Inc. 771 8,681 J&J Snack Foods Corp. 14,421 1,234,005 JM Smucker Co. (The) 27,782 3,089,636 John B Sanfilippo & Son, Inc. 8,141 200,106 Kraft Foods Group, Inc. 39,110 2,126,802 Kroger Co. (The) 17,415 746,059 Lancaster Colony Corp. 8,100 672,219 # Lifeway Foods, Inc. 4,839 70,795 # Limoneira Co. 88 2,318 #* Mannatech, Inc. 2,569 60,603 McCormick & Co., Inc.(579780107) 1,064 72,426 # McCormick & Co., Inc.(579780206) 8,162 564,402 #* Medifast, Inc. 15,157 353,310 # MGP Ingredients, Inc. 17,301 91,522 # Molson Coors Brewing Co. Class A 534 29,421 Molson Coors Brewing Co. Class B 86,345 4,662,630 Mondelez International, Inc. Class A 260,500 8,763,220 * Monster Beverage Corp. 2,400 137,352 Nash Finch Co. 13,620 382,177 National Beverage Corp. 27,000 494,370 #* Natural Alternatives International, Inc. 4,748 29,010 Nu Skin Enterprises, Inc. Class A 18,507 2,164,023 Nutraceutical International Corp. 11,692 281,193 Oil-Dri Corp. of America 6,773 240,374 * Omega Protein Corp. 21,434 200,622 # Orchids Paper Products Co. 5,107 155,763 * Pantry, Inc. (The) 24,989 334,603 PepsiCo, Inc. 9,195 773,208 Philip Morris International, Inc. 36,900 3,288,528 * Pilgrim's Pride Corp. 98,915 1,401,626 * Post Holdings, Inc. 38,552 1,655,808 * Prestige Brands Holdings, Inc. 65,760 2,053,685 # Pricesmart, Inc. 8,282 942,409 Procter & Gamble Co. (The) 105,525 8,521,144 Reliv International, Inc. 4,579 11,585 * Revlon, Inc. Class A 13,564 322,145 Reynolds American, Inc. 11,374 584,282 * Rite Aid Corp. 78,344 417,574 Rocky Mountain Chocolate Factory, Inc. 5,450 69,106 Safeway, Inc. 51,128 1,784,367 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ------------ Consumer Staples -- (Continued) Sanderson Farms, Inc. 24,354 $ 1,539,416 Seaboard Corp. 535 1,460,550 * Seneca Foods Corp. Class A 9,936 291,324 * Seneca Foods Corp. Class B 1,251 36,904 # Snyders-Lance, Inc. 66,434 1,992,356 # Spartan Stores, Inc. 25,456 598,980 Spectrum Brands Holdings, Inc. 52,744 3,476,884 #* Susser Holdings Corp. 22,694 1,244,539 * Tofutti Brands, Inc. 799 2,237 # Tootsie Roll Industries, Inc. 23,881 764,192 * TreeHouse Foods, Inc. 32,582 2,386,957 Tyson Foods, Inc. Class A 164,162 4,542,363 #* United Natural Foods, Inc. 13,114 936,995 United-Guardian, Inc. 1,872 47,193 # Universal Corp. 26,112 1,384,719 #* USANA Health Sciences, Inc. 9,355 638,292 # Vector Group, Ltd. 20,714 334,945 Village Super Market, Inc. Class A 7,226 264,905 Wal-Mart Stores, Inc. 62,825 4,821,819 Walgreen Co. 34,175 2,024,527 WD-40 Co. 7,242 524,973 Weis Markets, Inc. 25,198 1,289,382 #* WhiteWave Foods Co. Class A 72,636 1,453,446 Whole Foods Market, Inc. 9,338 589,508 ------------ Total Consumer Staples 145,979,293 ------------ Energy -- (10.2%) #* Abraxas Petroleum Corp. 18,724 54,112 # Adams Resources & Energy, Inc. 4,701 243,371 # Alon USA Energy, Inc. 61,615 744,309 #* Alpha Natural Resources, Inc. 246,049 1,722,343 Anadarko Petroleum Corp. 76,836 7,321,702 Apache Corp. 63,288 5,619,974 #* Approach Resources, Inc. 28,368 798,559 # Arch Coal, Inc. 229,682 973,852 #* Atwood Oceanics, Inc. 37,029 1,967,351 Baker Hughes, Inc. 68,271 3,965,862 * Barnwell Industries, Inc. 7,497 26,614 #* Basic Energy Services, Inc. 47,200 692,424 Berry Petroleum Co. Class A 33,301 1,590,123 #* Bill Barrett Corp. 51,800 1,433,306 #* BioFuel Energy Corp. 1,761 6,058 * Black Ridge Oil and Gas, Inc. 4,665 3,032 Bolt Technology Corp. 8,848 158,291 #* Bonanza Creek Energy, Inc. 27,055 1,367,360 #* BPZ Resources, Inc. 129,134 259,559 Bristow Group, Inc. 41,007 3,299,833 #* C&J Energy Services, Inc. 52,408 1,207,480 Cabot Oil & Gas Corp. 38,200 1,349,224 #* Cal Dive International, Inc. 100,880 198,734 * Callon Petroleum Co. 40,774 278,486 * Cameron International Corp. 15,338 841,443 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Energy -- (Continued) # CARBO Ceramics, Inc. 4,831 $ 605,518 #* Carrizo Oil & Gas, Inc. 39,328 1,724,140 * Cheniere Energy, Inc. 7,686 305,903 # Chesapeake Energy Corp. 371,242 10,379,926 Chevron Corp. 239,958 28,785,362 Cimarex Energy Co. 40,562 4,273,207 * Clayton Williams Energy, Inc. 10,780 839,007 #* Clean Energy Fuels Corp. 52,155 594,045 * Cloud Peak Energy, Inc. 63,861 996,870 * Cobalt International Energy, Inc. 10,413 241,686 # Comstock Resources, Inc. 53,195 910,166 * Concho Resources, Inc. 9,700 1,072,917 ConocoPhillips 188,785 13,837,941 CONSOL Energy, Inc. 8,571 312,842 Contango Oil & Gas Co. 18,704 801,481 #* Continental Resources, Inc. 545 62,076 Crosstex Energy, Inc. 49,305 1,513,170 #* Dawson Geophysical Co. 8,719 254,944 Delek US Holdings, Inc. 56,413 1,441,352 * Denbury Resources, Inc. 215,040 4,083,610 Devon Energy Corp. 58,323 3,687,180 DHT Holdings, Inc. 10,435 53,532 # Diamond Offshore Drilling, Inc. 10,044 622,025 * Double Eagle Petroleum Co. 10,474 29,118 * Dresser-Rand Group, Inc. 9,100 553,007 * Dril-Quip, Inc. 7,700 904,134 * Emerald Oil, Inc. 54,329 472,662 #* Endeavour International Corp. 48,225 286,457 Energen Corp. 6,161 482,530 # Energy XXI Bermuda, Ltd. 18,047 524,446 * ENGlobal Corp. 25,261 27,787 EOG Resources, Inc. 19,307 3,444,369 * EPL Oil & Gas, Inc. 41,163 1,312,276 * Era Group, Inc. 22,691 717,036 * Evolution Petroleum Corp. 11,083 133,661 #* Exterran Holdings, Inc. 74,370 2,123,264 Exxon Mobil Corp. 250,318 22,433,499 * FieldPoint Petroleum Corp. 3,945 18,936 * FMC Technologies, Inc. 3,200 161,760 #* FX Energy, Inc. 11,434 39,790 * Gastar Exploration, Ltd. 8,047 34,763 #* Geospace Technologies Corp. 6,253 609,167 #* Gevo, Inc. 8,936 15,191 #* Global Geophysical Services, Inc. 41,603 99,431 # Green Plains Renewable Energy, Inc. 36,643 591,052 * Gulf Coast Ultra Deep Royalty Trust 36,391 88,066 Gulf Island Fabrication, Inc. 15,729 396,685 Gulfmark Offshore, Inc. Class A 31,656 1,575,836 * Gulfport Energy Corp. 20,422 1,198,567 #* Halcon Resources Corp. 45,581 236,110 Halliburton Co. 34,942 1,852,974 #* Harvest Natural Resources, Inc. 42,786 213,930 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Energy -- (Continued) * Helix Energy Solutions Group, Inc. 115,965 $ 2,743,732 Helmerich & Payne, Inc. 57,650 4,470,758 * Hercules Offshore, Inc. 172,813 1,175,128 Hess Corp. 50,181 4,074,697 * HKN, Inc. 308 22,946 HollyFrontier Corp. 109,681 5,051,907 * Hornbeck Offshore Services, Inc. 40,598 2,243,851 * Houston American Energy Corp. 1,980 515 #* Infinity Energy Resources, Inc. 4,626 9,483 #* ION Geophysical Corp. 105,637 490,156 #* James River Coal Co. 38,132 73,213 #* Key Energy Services, Inc. 130,460 1,020,197 Kinder Morgan, Inc. 37,422 1,321,371 Knightsbridge Tankers, Ltd. 15,245 125,619 * Kodiak Oil & Gas Corp. 48,187 624,985 #* Lone Pine Resources, Inc. 3,544 82 #* Lucas Energy, Inc. 15,775 17,510 #* Magnum Hunter Resources Corp. 155,038 1,105,421 Marathon Oil Corp. 115,292 4,065,196 Marathon Petroleum Corp. 38,015 2,724,155 #* Matador Resources Co. 11,622 213,961 * Matrix Service Co. 30,834 641,039 #* McDermott International, Inc. 154,605 1,093,057 * Mexco Energy Corp. 1,236 8,121 #* Miller Energy Resources, Inc. 736 4,975 * Mitcham Industries, Inc. 13,274 220,879 Murphy Oil Corp. 107,339 6,474,689 Nabors Industries, Ltd. 246,619 4,310,900 National Oilwell Varco, Inc. 44,088 3,579,064 * Natural Gas Services Group, Inc. 14,259 399,109 * Newfield Exploration Co. 101,009 3,075,724 #* Newpark Resources, Inc. 96,777 1,233,907 Noble Corp. 138,773 5,231,742 Noble Energy, Inc. 24,666 1,848,223 # Nordic American Tankers, Ltd. 27,665 225,746 #* Northern Oil and Gas, Inc. 45,111 741,174 #* Nuverra Environmental Solutions, Inc. 180,724 440,967 * Oasis Petroleum, Inc. 453 24,122 Occidental Petroleum Corp. 111,234 10,687,363 Oceaneering International, Inc. 7,200 618,336 * Oil States International, Inc. 15,825 1,719,070 * Overseas Shipholding Group, Inc. 31,761 109,575 * Pacific Drilling SA 4,852 55,167 Panhandle Oil and Gas, Inc. Class A 8,087 271,481 * Parker Drilling Co. 144,626 1,041,307 Patterson-UTI Energy, Inc. 146,603 3,556,589 * PDC Energy, Inc. 33,769 2,289,876 Peabody Energy Corp. 148,332 2,889,507 * Penn Virginia Corp. 74,315 632,421 * PetroQuest Energy, Inc. 68,290 322,329 * PHI, Inc.(69336T106) 1,053 39,614 * PHI, Inc.(69336T205) 13,372 532,473 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Energy -- (Continued) Phillips 66 91,273 $5,880,719 * Pioneer Energy Services Corp. 74,145 622,818 Pioneer Natural Resources Co. 20,162 4,128,774 * PostRock Energy Corp. 1,100 1,606 #* Pyramid Oil Co. 3,478 18,433 QEP Resources, Inc. 98,405 3,253,269 Range Resources Corp. 10,900 825,239 #* Renewable Energy Group, Inc. 29,773 324,823 # Rentech, Inc. 182,957 312,857 * REX American Resources Corp. 14,600 421,064 #* Rex Energy Corp. 51,176 1,100,284 * RigNet, Inc. 452 16,661 * Rosetta Resources, Inc. 23,527 1,410,208 * Rowan Cos. P.L.C. Class A 112,978 4,076,246 #* Royale Energy, Inc. 3,000 8,070 # RPC, Inc. 72,669 1,332,749 #* Sanchez Energy Corp. 8,150 232,357 #* SandRidge Energy, Inc. 153,765 974,870 Schlumberger, Ltd. 53,868 5,048,509 Scorpio Tankers, Inc. 11,241 129,721 # SEACOR Holdings, Inc. 24,331 2,379,572 SemGroup Corp. Class A 39,273 2,371,697 # Ship Finance International, Ltd. 80,785 1,336,992 SM Energy Co. 22,054 1,954,205 * Southwestern Energy Co. 23,462 873,256 Spectra Energy Corp. 1,600 56,912 * Steel Excel, Inc. 11,536 320,124 * Stone Energy Corp. 55,611 1,938,599 * Superior Energy Services, Inc. 150,794 4,045,803 #* Swift Energy Co. 45,809 628,500 * Synergy Resources Corp. 38,656 400,476 #* Syntroleum Corp. 82 335 Targa Resources Corp. 2,115 164,039 # Teekay Corp. 61,537 2,672,552 * Tesco Corp. 42,031 722,093 Tesoro Corp. 131,157 6,412,266 * TETRA Technologies, Inc. 83,519 1,083,241 TGC Industries, Inc. 20,067 147,894 Tidewater, Inc. 49,266 2,966,799 # Transocean, Ltd. 56,289 2,649,523 * Triangle Petroleum Corp. 66,011 697,736 #* Ultra Petroleum Corp. 9,559 175,503 * Unit Corp. 53,710 2,761,231 #* Uranium Energy Corp. 22,116 38,924 #* USEC, Inc. 4,683 37,745 #* Vaalco Energy, Inc. 63,631 335,335 Valero Energy Corp. 96,920 3,990,196 # W&T Offshore, Inc. 73,374 1,400,710 * Warren Resources, Inc. 79,096 247,571 * Weatherford International, Ltd. 429,641 7,063,298 # Western Refining, Inc. 94,206 3,040,028 * Westmoreland Coal Co. 2,630 37,372 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ------------ Energy -- (Continued) * Whiting Petroleum Corp. 61,012 $ 4,081,093 * Willbros Group, Inc. 57,282 559,072 Williams Cos., Inc. (The) 21,384 763,623 # World Fuel Services Corp. 27,654 1,055,000 #* WPX Energy, Inc. 174,221 3,857,253 #* Zion Oil & Gas, Inc. 9,255 15,178 ------------ Total Energy 333,393,258 ------------ Financials -- (21.6%) * 1st Constitution Bancorp 2,517 25,422 1st Source Corp. 26,196 822,030 1st United Bancorp Inc/Boca Raton 25,437 194,339 # Access National Corp. 8,706 126,498 ACE, Ltd. 45,435 4,336,316 * Affiliated Managers Group, Inc. 3,792 748,692 Aflac, Inc. 21,967 1,427,416 * Alexander & Baldwin, Inc. 47,655 1,763,235 * Alleghany Corp. 8,498 3,445,259 Alliance Bancorp, Inc. of Pennsylvania 3,932 57,014 Allied World Assurance Co. Holdings AG 34,136 3,696,587 Allstate Corp. (The) 86,740 4,602,424 #* Altisource Asset Management Corp. 1,120 716,442 * Altisource Portfolio Solutions SA 11,202 1,761,851 * American Capital, Ltd. 305,835 4,284,748 # American Equity Investment Life Holding Co. 67,926 1,415,578 American Express Co. 9,290 759,922 American Financial Group, Inc. 125,705 7,072,163 * American Independence Corp. 610 6,759 American International Group, Inc. 128,798 6,652,417 # American National Bankshares, Inc. 5,991 137,434 American National Insurance Co. 21,779 2,201,204 * American River Bankshares 4,649 40,353 #* American Spectrum Realty, Inc. 400 820 Ameriprise Financial, Inc. 68,100 6,846,774 * Ameris Bancorp 25,079 458,946 AMERISAFE, Inc. 20,567 791,829 # AmeriServ Financial, Inc. 17,822 55,961 # Amtrust Financial Services, Inc. 62,289 2,389,406 Aon P.L.C. 21,179 1,675,047 #* Arch Capital Group, Ltd. 68,095 3,946,786 Argo Group International Holdings, Ltd. 34,824 1,461,912 # Arrow Financial Corp. 13,107 338,292 Arthur J Gallagher & Co. 8,866 420,692 Aspen Insurance Holdings, Ltd. 67,802 2,644,956 # Associated Banc-Corp. 158,492 2,577,080 Assurant, Inc. 86,200 5,040,976 Assured Guaranty, Ltd. 170,412 3,493,446 Asta Funding, Inc. 12,881 110,519 Astoria Financial Corp. 109,382 1,444,936 # Atlantic American Corp. 5,179 20,975 * Atlantic Coast Financial Corp. 1,357 5,292 #* Atlanticus Holdings Corp. 19,831 69,210 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Financials -- (Continued) Auburn National BanCorp., Inc. 1,260 $ 32,256 * AV Homes, Inc. 11,482 219,306 Axis Capital Holdings, Ltd. 72,054 3,416,801 Baldwin & Lyons, Inc. Class A 1,285 34,522 Baldwin & Lyons, Inc. Class B 10,961 299,564 # Banc of California, Inc. 10,072 142,116 # Bancfirst Corp. 14,665 814,934 * Bancorp, Inc. 40,873 660,916 # BancorpSouth, Inc. 111,257 2,458,780 Bank Mutual Corp. 46,438 295,346 Bank of America Corp. 1,445,171 20,174,587 Bank of Commerce Holdings 5,615 30,882 # Bank of Hawaii Corp. 25,641 1,486,665 Bank of Kentucky Financial Corp. 4,629 133,361 Bank of New York Mellon Corp. (The) 163,628 5,203,370 # Bank of the Ozarks, Inc. 28,120 1,391,378 BankFinancial Corp. 23,259 216,076 BankUnited, Inc. 10,498 323,023 Banner Corp. 23,167 886,369 Bar Harbor Bankshares 3,701 139,676 # BB&T Corp. 102,589 3,484,948 BBCN Bancorp, Inc. 90,761 1,345,986 * BBX Capital Corp. Class A 6,124 80,776 BCB Bancorp, Inc. 7,110 78,637 * BCSB Bancorp, Inc. 1,425 36,266 #* Beneficial Mutual Bancorp, Inc. 70,097 683,446 # Berkshire Bancorp, Inc. 2,025 15,633 Berkshire Hills Bancorp, Inc. 24,970 633,489 BGC Partners, Inc. Class A 2,549 13,561 # BlackRock, Inc. 14,303 4,302,485 #* BofI Holding, Inc. 11,939 721,354 BOK Financial Corp. 22,351 1,368,552 Boston Private Financial Holdings, Inc. 89,201 1,015,999 Bridge Bancorp, Inc. 3,763 86,888 #* Bridge Capital Holdings 6,459 113,614 # Brookline Bancorp, Inc. 79,372 704,030 Brown & Brown, Inc. 38,662 1,234,478 Bryn Mawr Bank Corp. 12,410 345,743 C&F Financial Corp. 1,936 104,370 Calamos Asset Management, Inc. Class A 22,334 219,320 # California First National Bancorp 6,388 114,026 * Camco Financial Corp. 3,400 21,080 Camden National Corp. 8,426 339,989 # Cape Bancorp, Inc. 4,109 37,844 * Capital Bank Financial Corp. Class A 1,791 39,796 #* Capital City Bank Group, Inc. 16,811 206,775 Capital One Financial Corp. 70,527 4,843,089 (d) Capital Properties, Inc., 5.000% 277 277 Capital Properties, Inc. Class A 308 2,464 Capital Southwest Corp. 14,168 465,702 CapitalSource, Inc. 301,246 3,940,298 Capitol Federal Financial, Inc. 175,628 2,225,207 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Financials -- (Continued) # Cardinal Financial Corp. 34,619 $ 571,213 * Carolina Bank Holdings, Inc. 1,000 10,090 # Cash America International, Inc. 32,211 1,270,724 Cathay General Bancorp 91,966 2,265,123 * CBRE Group, Inc. Class A 2,800 65,044 Center Bancorp, Inc. 16,007 239,465 Centerstate Banks, Inc. 25,680 253,205 # Central Pacific Financial Corp. 6,503 119,785 Century Bancorp, Inc. Class A 2,971 96,557 CFS Bancorp, Inc. 1,879 23,469 Charles Schwab Corp. (The) 17,612 398,912 Charter Financial Corp. 303 3,285 Chemical Financial Corp. 30,485 892,906 Chicopee Bancorp, Inc. 5,278 92,629 Chubb Corp. (The) 37,508 3,453,737 Cincinnati Financial Corp. 97,478 4,873,900 * CIT Group, Inc. 107,054 5,155,721 Citigroup, Inc. 403,956 19,704,974 Citizens Community Bancorp, Inc. 3,663 27,949 * Citizens First Corp. 1,000 8,850 Citizens Holding Co. 2,106 40,267 #* Citizens, Inc. 49,580 416,472 # City Holding Co. 16,506 751,023 City National Corp. 43,894 3,165,196 CKX Lands, Inc. 1,400 20,160 Clifton Savings Bancorp, Inc. 26,025 328,696 CME Group, Inc. 45,660 3,388,429 CNA Financial Corp. 78,953 3,204,702 CNB Financial Corp. 7,760 155,278 CNO Financial Group, Inc. 264,496 4,120,848 # CoBiz Financial, Inc. 39,595 429,606 # Codorus Valley Bancorp, Inc. 2,025 42,534 # Cohen & Steers, Inc. 5,916 226,938 * Colonial Financial Services, Inc. 2,714 37,996 * Colony Bankcorp, Inc. 3,099 18,966 Columbia Banking System, Inc. 53,832 1,382,944 Comerica, Inc. 102,535 4,439,765 Commerce Bancshares, Inc. 23,573 1,084,594 Commercial National Financial Corp. 1,413 29,673 # Community Bank System, Inc. 43,567 1,581,918 * Community Bankers Trust Corp. 1,472 5,491 # Community Trust Bancorp, Inc. 16,624 708,016 * Community West Bancshares 2,000 11,750 * CommunityOne Bancorp. 1 11 # Consolidated-Tomoka Land Co. 5,746 215,590 * Consumer Portfolio Services, Inc. 12,192 81,930 * Cowen Group, Inc. Class A 102,535 407,064 # Crawford & Co. Class A 28,328 235,972 # Crawford & Co. Class B 14,955 164,355 * Credit Acceptance Corp. 8,643 1,022,467 # Cullen/Frost Bankers, Inc. 29,396 2,080,943 # CVB Financial Corp. 99,463 1,446,192 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Financials -- (Continued) * DFC Global Corp. 40,321 $ 487,884 Diamond Hill Investment Group, Inc. 900 99,243 Dime Community Bancshares, Inc. 41,448 678,089 Discover Financial Services 20,550 1,066,134 # Donegal Group, Inc. Class A 21,391 339,047 Donegal Group, Inc. Class B 3,821 80,241 #* Doral Financial Corp. 782 13,216 * E*TRADE Financial Corp. 258,384 4,369,273 Eagle Bancorp Montana, Inc. 514 5,639 East West Bancorp, Inc. 117,718 3,965,919 Eastern Insurance Holdings, Inc. 8,465 206,885 * Eastern Virginia Bankshares, Inc. 3,468 20,912 # Eaton Vance Corp. 1,500 62,715 * eHealth, Inc. 19,926 849,246 EMC Insurance Group, Inc. 12,475 424,649 Employers Holdings, Inc. 37,573 1,129,820 #* Encore Capital Group, Inc. 26,420 1,290,617 Endurance Specialty Holdings, Ltd. 53,560 2,961,332 * Enstar Group, Ltd. 13,908 1,890,514 Enterprise Bancorp, Inc. 5,554 108,525 Enterprise Financial Services Corp. 17,200 310,116 Erie Indemnity Co. Class A 8,246 592,228 ESB Financial Corp. 15,721 209,247 ESSA Bancorp, Inc. 16,415 179,908 Evans Bancorp, Inc. 2,412 48,783 Evercore Partners, Inc. Class A 5,577 281,471 Everest Re Group, Ltd. 26,993 4,149,904 * Ezcorp, Inc. Class A 52,447 824,991 * Farmers Capital Bank Corp. 5,212 107,054 FBL Financial Group, Inc. Class A 32,494 1,453,782 Federal Agricultural Mortgage Corp. Class A 987 28,894 Federal Agricultural Mortgage Corp. Class C 9,712 346,621 # Federated National Holding Co. Class C 6,300 64,575 # Fidelity National Financial, Inc. Class A 187,838 5,287,640 Fidelity Southern Corp. 9,640 147,198 Fifth Third Bancorp 239,838 4,564,117 Financial Institutions, Inc. 13,920 329,486 * First Acceptance Corp. 27,407 46,592 # First American Financial Corp. 102,745 2,656,986 #* First BanCorp 52,321 290,382 # First Bancorp 15,597 233,643 First Bancorp, Inc. 9,162 159,510 * First Bancshares, Inc.(318687100) 700 5,950 First Bancshares, Inc.(318916103) 222 3,297 First Busey Corp. 87,687 453,342 First Business Financial Services, Inc. 2,134 75,159 * First Cash Financial Services, Inc. 10,205 617,300 First Citizens BancShares, Inc. Class A 8,661 1,833,794 # First Commonwealth Financial Corp. 113,642 987,549 First Community Bancshares, Inc. 16,247 271,162 First Defiance Financial Corp. 10,054 259,594 #* First Federal Bancshares of Arkansas, Inc. 5,224 46,912 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Financials -- (Continued) First Federal of Northern Michigan Bancorp, Inc. 800 $ 3,792 First Financial Bancorp 60,800 943,616 # First Financial Bankshares, Inc. 17,754 1,092,049 First Financial Corp. 13,376 462,007 First Financial Holdings, Inc. 20,055 1,201,896 # First Financial Northwest, Inc. 16,619 180,150 #* First Financial Service Corp. 1,670 8,283 # First Horizon National Corp. 246,889 2,629,368 First Interstate Bancsystem, Inc. 12,138 304,785 #* First Marblehead Corp. (The) 14,664 14,077 First Merchants Corp. 29,768 559,638 First Midwest Bancorp, Inc. 87,060 1,447,808 First Niagara Financial Group, Inc. 308,360 3,401,211 * First Place Financial Corp. 10,608 21 * First South Bancorp, Inc. 7,807 52,775 * First United Corp. 3,697 30,315 First West Virginia Bancorp 796 13,046 Firstbank Corp. 5,196 101,790 FirstMerit Corp. 134,186 3,013,818 * Flagstar Bancorp, Inc. 3,652 59,199 Flushing Financial Corp. 34,144 685,953 # FNB Corp. 170,363 2,131,241 #* Forest City Enterprises, Inc. Class A 57,405 1,163,025 * Forest City Enterprises, Inc. Class B 8,417 171,033 * Forestar Group, Inc. 36,513 815,335 Fox Chase Bancorp, Inc. 19,210 331,757 Franklin Resources, Inc. 10,401 560,198 Fulton Financial Corp. 218,883 2,672,561 # FXCM, Inc. Class A 15,482 253,750 # Gain Capital Holdings, Inc. 8,047 84,252 GAINSCO, Inc. 1,497 12,642 GAMCO Investors, Inc. Class A 3,733 266,947 * Genworth Financial, Inc. Class A 237,177 3,446,182 # German American Bancorp, Inc. 12,054 327,628 GFI Group, Inc. 130,642 453,328 # Glacier Bancorp, Inc. 71,411 1,973,086 #* Gleacher & Co., Inc. 2,784 36,693 * Global Indemnity P.L.C. 16,912 416,543 Goldman Sachs Group, Inc. (The) 47,945 7,712,433 Great Southern Bancorp, Inc. 13,373 375,514 #* Green Dot Corp. Class A 19,477 417,976 Greenhill & Co., Inc. 3,600 184,680 #* Greenlight Capital Re, Ltd. Class A 31,735 977,121 Guaranty Bancorp 2,967 40,054 #* Guaranty Federal Bancshares, Inc. 1,886 21,246 * Hallmark Financial Services, Inc. 22,381 190,462 Hampden Bancorp, Inc. 4,725 81,270 * Hampton Roads Bankshares, Inc. 520 733 Hancock Holding Co. 79,288 2,599,061 Hanmi Financial Corp. 38,130 666,512 Hanover Insurance Group, Inc. (The) 50,297 2,944,386 # Harleysville Savings Financial Corp. 2,920 53,582 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Financials -- (Continued) * Harris & Harris Group, Inc. 29,482 $ 92,279 Hartford Financial Services Group, Inc. 219,658 7,402,475 Hawthorn Bancshares, Inc. 2,117 29,236 HCC Insurance Holdings, Inc. 99,330 4,534,414 # HCI Group, Inc. 11,259 494,720 Heartland Financial USA, Inc. 16,865 446,754 Heritage Commerce Corp. 21,259 165,608 Heritage Financial Corp. 11,632 187,624 Heritage Financial Group, Inc. 5,663 97,290 HF Financial Corp. 4,200 55,986 HFF, Inc. Class A 7,686 188,691 * Hilltop Holdings, Inc. 86,881 1,506,517 # Hingham Institution for Savings 872 63,412 #* HMN Financial, Inc. 1,450 12,484 * Home Bancorp, Inc. 7,010 127,372 # Home BancShares, Inc. 50,522 1,711,685 Home Federal Bancorp, Inc. 17,529 273,277 HopFed Bancorp, Inc. 2,207 23,946 Horace Mann Educators Corp. 44,142 1,222,733 Horizon Bancorp 5,260 114,195 * Howard Hughes Corp. (The) 9,574 1,120,637 # Hudson City Bancorp, Inc. 253,527 2,276,672 Hudson Valley Holding Corp. 17,275 319,415 Huntington Bancshares, Inc. 425,265 3,742,332 Iberiabank Corp. 32,432 1,895,002 * ICG Group, Inc. 39,694 647,409 Independence Holding Co. 15,010 205,937 # Independent Bank Corp.(453836108) 21,761 780,785 * Independent Bank Corp.(453838609) 7,338 71,325 Infinity Property & Casualty Corp. 12,729 872,955 Interactive Brokers Group, Inc. Class A 53,617 1,106,119 #* IntercontinentalExchange, Inc. 4,400 848,012 * InterGroup Corp. (The) 235 4,677 International Bancshares Corp. 73,397 1,677,121 #* Intervest Bancshares Corp. Class A 18,510 134,938 #* INTL. FCStone, Inc. 20,609 421,660 Invesco, Ltd. 186,136 6,282,090 * Investment Technology Group, Inc. 38,795 621,496 Investors Bancorp, Inc. 107,105 2,539,460 #* Investors Capital Holdings, Ltd. 4,038 28,428 Investors Title Co. 1,606 125,493 # Janus Capital Group, Inc. 87,711 865,708 * Jefferson Bancshares, Inc. 2,270 14,414 JMP Group, Inc. 22,346 143,238 Jones Lang LaSalle, Inc. 6,476 616,515 JPMorgan Chase & Co. 570,669 29,412,280 * KCG Holdings, Inc. Class A 9,848 86,072 #* Kearny Financial Corp. 57,758 606,459 Kemper Corp. 67,798 2,509,882 Kennedy-Wilson Holdings, Inc. 24,955 500,098 Kentucky First Federal Bancorp 2,320 18,769 KeyCorp 499,016 6,252,670 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Financials -- (Continued) Lake Shore Bancorp, Inc. 339 $ 4,085 # Lakeland Bancorp, Inc. 30,636 349,250 # Lakeland Financial Corp. 17,992 640,335 Landmark Bancorp, Inc. 1,911 38,430 # Legg Mason, Inc. 124,614 4,793,901 Leucadia National Corp. 164,977 4,675,448 Life Partners Holdings, Inc. 8,447 17,063 Lincoln National Corp. 152,570 6,928,204 # LNB Bancorp, Inc. 9,079 88,339 Loews Corp. 44,237 2,137,089 * Louisiana Bancorp, Inc. 3,003 53,739 LSB Financial Corp. 426 12,145 # M&T Bank Corp. 39,063 4,395,759 * Macatawa Bank Corp. 31,196 153,172 * Magyar Bancorp, Inc. 1,971 14,438 Maiden Holdings, Ltd. 72,279 791,455 MainSource Financial Group, Inc. 19,995 324,319 * Malvern Bancorp, Inc. 241 2,928 Manning & Napier, Inc. 847 14,060 * Markel Corp. 8,486 4,494,780 MarketAxess Holdings, Inc. 31,222 2,036,611 Marlin Business Services Corp. 13,162 362,876 Marsh & McLennan Cos., Inc. 17,700 810,660 #* Maui Land & Pineapple Co., Inc. 4,186 17,832 Mayflower Bancorp, Inc. 500 9,720 MB Financial, Inc. 64,679 1,920,966 #* MBIA, Inc. 235,843 2,681,535 * MBT Financial Corp. 9,522 36,564 MCG Capital Corp. 94,877 446,871 # Meadowbrook Insurance Group, Inc. 73,213 486,134 # Medallion Financial Corp. 23,064 350,112 Mercantile Bank Corp. 7,390 161,398 Merchants Bancshares, Inc. 7,187 215,466 Mercury General Corp. 36,512 1,699,999 * Meridian Interstate Bancorp, Inc. 17,765 421,741 # Meta Financial Group, Inc. 2,141 79,688 MetLife, Inc. 141,103 6,675,583 * Metro Bancorp, Inc. 15,320 326,929 MetroCorp Bancshares, Inc. 7,245 103,821 #* MGIC Investment Corp. 158,315 1,288,684 MicroFinancial, Inc. 9,680 83,151 Mid Penn Bancorp, Inc. 778 9,390 MidSouth Bancorp, Inc. 8,676 131,702 MidWestOne Financial Group, Inc. 6,846 180,871 Montpelier Re Holdings, Ltd. 61,112 1,687,302 Morgan Stanley 189,332 5,439,508 * MSB Financial Corp. 600 4,560 * MSCI, Inc. 252 10,274 MutualFirst Financial, Inc. 5,151 87,567 NASDAQ OMX Group, Inc. (The) 91,090 3,227,319 National Interstate Corp. 18,783 490,800 National Penn Bancshares, Inc. 172,864 1,792,600 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Financials -- (Continued) National Security Group, Inc. 419 $ 2,703 National Western Life Insurance Co. Class A 2,337 486,096 #* Naugatuck Valley Financial Corp. 989 7,309 * Navigators Group, Inc. (The) 17,111 962,323 # NBT Bancorp, Inc. 42,931 1,046,228 Nelnet, Inc. Class A 38,855 1,656,389 #* New Century Bancorp, Inc. 2,187 14,456 # New Hampshire Thrift Bancshares, Inc. 4,833 68,629 # New York Community Bancorp, Inc. 217,731 3,529,420 * NewBridge Bancorp 12,686 94,638 * NewStar Financial, Inc. 49,671 864,772 Nicholas Financial, Inc. 3,515 56,416 * North Valley Bancorp 460 8,694 Northeast Bancorp 118 1,181 Northeast Community Bancorp, Inc. 9,104 68,735 Northern Trust Corp. 14,311 807,427 Northfield Bancorp, Inc. 57,520 743,734 Northrim BanCorp, Inc. 5,792 145,379 Northwest Bancshares, Inc. 110,107 1,540,397 Norwood Financial Corp. 1,641 47,162 NYSE Euronext 132,257 5,821,953 # Ocean Shore Holding Co. 6,104 87,104 OceanFirst Financial Corp. 19,770 347,754 * Ocwen Financial Corp. 70,987 3,991,599 OFG Bancorp 53,163 787,344 Ohio Valley Banc Corp. 2,002 41,121 Old Line Bancshares, Inc. 1,957 26,106 Old National Bancorp 115,935 1,685,695 Old Republic International Corp. 242,918 4,078,593 #* Old Second Bancorp, Inc. 11,059 52,751 * OmniAmerican Bancorp, Inc. 12,533 274,723 OneBeacon Insurance Group, Ltd. Class A 26,235 418,711 Oppenheimer Holdings, Inc. Class A 7,365 146,048 Oritani Financial Corp. 55,847 905,838 Pacific Continental Corp. 17,305 238,463 * Pacific Mercantile Bancorp 9,408 58,518 #* Pacific Premier Bancorp, Inc. 4,508 62,706 PacWest Bancorp 40,450 1,539,122 Park National Corp. 14,100 1,117,002 Park Sterling Corp. 21,825 142,081 PartnerRe, Ltd. 42,423 4,251,209 * Patriot National Bancorp, Inc. 1,500 1,815 # Peapack Gladstone Financial Corp. 8,268 151,635 # Penns Woods Bancorp, Inc. 4,255 217,856 # People's United Financial, Inc. 269,812 3,893,387 Peoples Bancorp of North Carolina, Inc. 3,297 43,158 Peoples Bancorp, Inc. 10,126 227,025 Peoples Bancorp/Auburn 1,337 31,647 #* PHH Corp. 58,457 1,405,891 #* Phoenix Cos., Inc. (The) 6,427 247,889 * PICO Holdings, Inc. 25,289 593,786 * Pinnacle Financial Partners, Inc. 39,217 1,215,727 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Financials -- (Continued) * Piper Jaffray Cos. 20,441 $ 733,627 Platinum Underwriters Holdings, Ltd. 39,027 2,427,089 PNC Financial Services Group, Inc. (The) 76,226 5,604,898 * Popular, Inc. 80,934 2,043,583 * Porter Bancorp, Inc. 6,860 7,683 * Portfolio Recovery Associates, Inc. 49,239 2,927,259 * Preferred Bank 2,694 51,779 Premier Financial Bancorp, Inc. 3,385 40,688 Primerica, Inc. 61,214 2,629,141 * Primus Guaranty, Ltd. 15,070 152,207 Principal Financial Group, Inc. 157,281 7,464,556 PrivateBancorp, Inc. 84,580 2,060,369 ProAssurance Corp. 61,024 2,765,608 Progressive Corp. (The) 20,068 521,166 Prosperity Bancshares, Inc. 42,708 2,667,115 Protective Life Corp. 77,513 3,571,799 Provident Financial Holdings, Inc. 9,638 146,112 Provident Financial Services, Inc. 64,885 1,215,945 * Prudential Bancorp, Inc. 5,097 55,096 Prudential Financial, Inc. 64,572 5,255,515 * PSB Holdings, Inc. 3,252 20,292 # Pulaski Financial Corp. 10,937 119,104 Pzena Investment Management, Inc. Class A 2,844 20,448 # QC Holdings, Inc. 12,392 29,121 # QCR Holdings, Inc. 309 5,364 Radian Group, Inc. 128,091 1,866,286 Raymond James Financial, Inc. 19,745 901,359 Regions Financial Corp. 681,506 6,562,903 Reinsurance Group of America, Inc. 55,519 3,951,842 RenaissanceRe Holdings, Ltd. 45,780 4,290,044 # Renasant Corp. 31,312 898,028 Republic Bancorp, Inc. Class A 20,236 465,833 * Republic First Bancorp, Inc. 20,713 65,246 Resource America, Inc. Class A 18,325 158,145 * Riverview Bancorp, Inc. 13,240 35,218 RLI Corp. 20,135 1,902,355 # Rockville Financial, Inc. 28,505 374,841 #* Roma Financial Corp. 25,930 504,598 * Royal Bancshares of Pennsylvania, Inc. Class A 6,447 9,864 S&T Bancorp, Inc. 29,768 729,911 #* Safeguard Scientifics, Inc. 23,253 405,765 # Safety Insurance Group, Inc. 17,028 931,261 Salisbury Bancorp, Inc. 856 22,449 Sandy Spring Bancorp, Inc. 27,445 672,128 SB Financial Group, Inc. 3,194 26,031 #* Seacoast Banking Corp. of Florida 50,999 116,278 #* Security National Financial Corp. Class A 2,139 12,556 SEI Investments Co. 12,500 414,875 Selective Insurance Group, Inc. 62,650 1,645,815 * Shore Bancshares, Inc. 4,929 45,100 SI Financial Group, Inc. 6,709 76,013 #* Siebert Financial Corp. 9,393 15,405 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ --------- ---------- Financials -- (Continued) Sierra Bancorp 11,952 $ 226,251 * Signature Bank 12,100 1,232,022 Simmons First National Corp. Class A 17,567 575,144 # Simplicity Bancorp, Inc. 9,310 145,981 SLM Corp. 30,766 780,533 * South Street Financial Corp. 400 2,500 #* Southcoast Financial Corp. 5,735 32,976 (d) Southern Community Financial 7,908 1,740 * Southern First Bancshares, Inc. 2,825 37,968 # Southern Missouri Bancorp, Inc. 1,465 44,316 # Southern National Bancorp of Virginia, Inc. 712 6,942 # Southside Bancshares, Inc. 19,995 545,863 * Southwest Bancorp, Inc. 20,760 332,368 Southwest Georgia Financial Corp. 1,854 17,613 #* St Joe Co. (The) 39,684 740,900 StanCorp Financial Group, Inc. 48,027 2,828,790 State Auto Financial Corp. 38,717 735,623 State Street Corp. 72,374 5,071,246 StellarOne Corp. 21,618 503,267 * Sterling Bancorp(859158107) 31,081 458,445 Sterling Bancorp(85917A100) 42,153 494,033 # Stewart Information Services Corp. 23,719 742,879 #* Stifel Financial Corp. 68,092 2,788,367 #* Stratus Properties, Inc. 6,580 101,200 * Suffolk Bancorp 12,947 253,114 Summit State Bank 1,156 11,444 #* Sun Bancorp, Inc. 32,827 108,329 SunTrust Banks, Inc. 70,003 2,354,901 Susquehanna Bancshares, Inc. 225,086 2,652,639 * Sussex Bancorp 2,146 14,689 #* SVB Financial Group 21,341 2,044,041 * SWS Group, Inc. 23,777 133,865 SY Bancorp, Inc. 15,245 457,502 Symetra Financial Corp. 46,300 867,199 Synovus Financial Corp. 1,037,837 3,372,970 T Rowe Price Group, Inc. 3,600 278,676 * Taylor Capital Group, Inc. 22,039 506,897 TCF Financial Corp. 131,388 1,994,470 TD Ameritrade Holding Corp. 12,649 344,812 Teche Holding Co. 1,486 74,746 * Tejon Ranch Co. 17,861 661,214 Territorial Bancorp, Inc. 12,058 262,985 # Teton Advisors, Inc. Class A 39 2,194 #* Texas Capital Bancshares, Inc. 31,625 1,646,081 TF Financial Corp. 2,289 63,520 * TFS Financial Corp. 40,111 486,948 # Thomas Properties Group, Inc. 53,749 365,493 Timberland Bancorp, Inc. 3,941 34,957 Tompkins Financial Corp. 14,846 732,205 Torchmark Corp. 49,305 3,592,362 Tower Financial Corp. 1,403 33,293 # Tower Group International, Ltd. 49,204 178,611 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Financials -- (Continued) # TowneBank 25,265 $ 367,858 Travelers Cos., Inc. (The) 55,984 4,831,419 Tree.com, Inc. 11,503 339,454 Trico Bancshares 15,107 382,056 # TrustCo Bank Corp. 103,531 695,728 # Trustmark Corp. 80,836 2,195,506 U.S. Bancorp 100,635 3,759,724 UMB Financial Corp. 38,493 2,268,008 # Umpqua Holdings Corp. 128,692 2,106,688 Union Bankshares Inc/Morrisville 2,000 43,340 # Union First Market Bankshares Corp. 23,005 554,881 United Bancshares, Inc. 2,040 27,071 # United Bankshares, Inc. 54,272 1,605,366 United Community Bancorp 993 10,824 * United Community Banks, Inc. 47,615 742,318 #* United Community Financial Corp. 7,576 30,304 United Financial Bancorp, Inc. 22,166 347,563 United Fire Group, Inc. 29,011 919,649 * United Security Bancshares 10,567 54,312 * United Security Bancshares/Thomasville 600 5,058 # Unity Bancorp, Inc. 5,781 42,837 # Universal Insurance Holdings, Inc. 44,721 350,613 Univest Corp. of Pennsylvania 17,118 341,846 Unum Group 152,511 4,840,699 Validus Holdings, Ltd. 105,899 4,180,893 # Valley National Bancorp 69,582 678,424 * Vantagesouth Bancshares, Inc. 4,153 20,308 ViewPoint Financial Group, Inc. 40,834 890,590 * Virginia Commerce Bancorp, Inc. 29,169 467,579 * Virtus Investment Partners, Inc. 595 121,094 VSB Bancorp, Inc. 170 1,788 Waddell & Reed Financial, Inc. Class A 5,916 365,313 * Walker & Dunlop, Inc. 1,380 17,912 Washington Banking Co. 16,508 280,801 Washington Federal, Inc. 119,487 2,721,914 # Washington Trust Bancorp, Inc. 16,883 555,282 * Waterstone Financial, Inc. 24,001 255,371 Wayne Savings Bancshares, Inc. 1,684 17,429 Webster Financial Corp. 103,422 2,884,440 Wells Fargo & Co. 634,567 27,089,665 # WesBanco, Inc. 30,727 903,374 West BanCorp., Inc. 17,389 240,316 # Westamerica BanCorp. 13,031 670,836 * Western Alliance Bancorp 81,523 1,724,211 Westfield Financial, Inc. 28,843 207,958 Westwood Holdings Group, Inc. 2,463 131,352 Willis Group Holdings P.L.C. 6,697 301,834 Wilshire Bancorp, Inc. 79,106 670,028 # Wintrust Financial Corp. 45,642 1,985,883 #* World Acceptance Corp. 13,047 1,358,454 WR Berkley Corp. 69,300 3,042,963 WSFS Financial Corp. 4,003 280,250 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ------------ Financials -- (Continued) WVS Financial Corp. 1,627 $ 17,995 XL Group P.L.C. 162,997 4,982,818 * Yadkin Financial Corp. 3,676 60,360 Zions BanCorp. 166,601 4,726,470 * ZipRealty, Inc. 17,864 98,252 ------------ Total Financials 707,941,647 ------------ Health Care -- (7.2%) # Abaxis, Inc. 3,959 141,455 Abbott Laboratories 52,410 1,915,585 #* ABIOMED, Inc. 1,436 34,435 #* Acadia Healthcare Co., Inc. 3,172 137,538 #* Accelerate Diagnostics, Inc. 2,341 30,012 #* Accuray, Inc. 67,370 454,747 * Acorda Therapeutics, Inc. 8,725 267,072 * Actavis P.L.C. 11,200 1,731,296 #* Adcare Health Systems, Inc. 5,449 21,524 #* Addus HomeCare Corp. 9,943 257,027 #* Aegerion Pharmaceuticals, Inc. 1,200 99,384 Aetna, Inc. 67,560 4,236,012 #* Affymax, Inc. 36,132 40,829 * Affymetrix, Inc. 87,147 616,129 Agilent Technologies, Inc. 15,200 771,552 # Air Methods Corp. 30,597 1,337,701 #* Akorn, Inc. 21,047 430,201 #* Albany Molecular Research, Inc. 35,314 462,613 * Alere, Inc. 90,727 3,060,222 * Alexion Pharmaceuticals, Inc. 10,000 1,229,500 * Align Technology, Inc. 17,155 978,864 * Alkermes P.L.C. 41,898 1,474,391 #* Alliance HealthCare Services, Inc. 5,402 136,184 * Allied Healthcare Products 4,920 11,464 * Allscripts Healthcare Solutions, Inc. 73,821 1,020,944 Almost Family, Inc. 9,772 187,916 #* Alnylam Pharmaceuticals, Inc. 12,235 704,858 * Alphatec Holdings, Inc. 91,449 166,437 #* AMAG Pharmaceuticals, Inc. 15,657 422,426 #* Amedisys, Inc. 36,836 599,690 * American Shared Hospital Services 900 2,192 AmerisourceBergen Corp. 16,800 1,097,544 Amgen, Inc. 26,155 3,033,980 * AMN Healthcare Services, Inc. 42,340 525,016 * Amsurg Corp. 35,540 1,524,311 # Analogic Corp. 11,775 1,086,008 * AngioDynamics, Inc. 32,661 513,431 * Anika Therapeutics, Inc. 15,395 459,849 #* Ariad Pharmaceuticals, Inc. 40,100 88,220 * Arqule, Inc. 26,950 60,637 #* Arrhythmia Research Technology, Inc. 1,153 3,765 * ArthroCare Corp. 9,467 354,444 * AtriCure, Inc. 3,062 42,409 Atrion Corp. 2,187 584,323 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Health Care -- (Continued) #* Authentidate Holding Corp. 2,236 $ 2,817 #* Auxilium Pharmaceuticals, Inc. 4,982 85,740 #* AVEO Pharmaceuticals, Inc. 2,329 4,821 #* Baxano Surgical, Inc. 24,169 29,244 * Bio-Rad Laboratories, Inc. Class A 10,635 1,313,635 * Bio-Rad Laboratories, Inc. Class B 1,277 155,526 #* Bio-Reference Labs, Inc. 10,468 339,268 #* Bioanalytical Systems, Inc. 1,915 3,524 #* Biodel, Inc. 4,308 10,899 * Biogen Idec, Inc. 6,870 1,677,585 * BioMarin Pharmaceutical, Inc. 7,300 458,586 * BioScrip, Inc. 62,349 437,066 #* Biospecifics Technologies Corp. 1,342 25,095 Biota Pharmaceuticals, Inc. 6,230 23,861 * BioTelemetry, Inc. 26,941 246,241 * Boston Scientific Corp. 767,057 8,966,896 #* Bovie Medical Corp. 13,510 34,586 Bristol-Myers Squibb Co. 49,289 2,588,658 #* Brookdale Senior Living, Inc. 39,923 1,081,115 * Bruker Corp. 13,400 274,030 #* BSD Medical Corp. 4,900 7,742 * Cambrex Corp. 34,747 584,445 Cantel Medical Corp. 32,610 1,144,611 * Capital Senior Living Corp. 30,675 680,371 Cardinal Health, Inc. 11,763 690,018 * CareFusion Corp. 117,444 4,553,304 * CAS Medical Systems, Inc. 415 585 #* Celldex Therapeutics, Inc. 44,462 1,018,624 #* Celsion Corp. 422 1,697 * Centene Corp. 38,472 2,160,588 #* Cepheid, Inc. 4,496 183,077 * Cerner Corp. 8,000 448,240 * Charles River Laboratories International, Inc. 15,198 747,894 # Chemed Corp. 12,392 840,425 * Chindex International, Inc. 7,192 121,041 Cigna Corp. 17,253 1,328,136 #* Codexis, Inc. 15,600 27,144 Community Health Systems, Inc. 91,897 4,009,466 # Computer Programs & Systems, Inc. 2,708 154,464 CONMED Corp. 29,451 1,068,188 Cooper Cos., Inc. (The) 24,927 3,220,818 * Cornerstone Therapeutics, Inc. 1,700 16,099 * Corvel Corp. 11,386 473,658 * Covance, Inc. 7,051 629,372 Covidien P.L.C. 15,563 997,744 CR Bard, Inc. 4,262 580,570 * Cross Country Healthcare, Inc. 33,538 199,216 CryoLife, Inc. 29,023 260,917 * Cubist Pharmaceuticals, Inc. 21,233 1,316,446 #* Cumberland Pharmaceuticals, Inc. 20,840 101,908 #* Cutera, Inc. 16,517 165,996 * Cyberonics, Inc. 6,029 348,235 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Health Care -- (Continued) #* Cynosure, Inc. Class A 23,396 $ 505,588 #* Cytokinetics, Inc. 9,109 54,745 * DaVita HealthCare Partners, Inc. 14,676 824,938 Daxor Corp. 4,092 30,567 DENTSPLY International, Inc. 10,234 482,021 * Depomed, Inc. 7,884 56,765 * Digirad Corp. 16,700 55,611 #* Durect Corp. 23,066 34,599 * Dyax Corp. 30,347 249,452 * Edwards Lifesciences Corp. 7,400 482,406 * Emergent Biosolutions, Inc. 38,612 754,092 * Emeritus Corp. 25,114 481,184 * Endo Health Solutions, Inc. 24,327 1,063,820 #* Endocyte, Inc. 7,233 75,440 Ensign Group, Inc. (The) 21,332 908,317 * Entremed, Inc. 63 115 #* Enzo Biochem, Inc. 39,085 97,322 Enzon Pharmaceuticals, Inc. 52,724 78,032 #* Exact Sciences Corp. 3,900 42,978 * Exactech, Inc. 13,511 306,700 #* ExamWorks Group, Inc. 23,719 613,136 * Express Scripts Holding Co. 29,646 1,853,468 * Five Star Quality Care, Inc. 52,415 265,744 * Forest Laboratories, Inc. 24,200 1,138,126 #* Furiex Pharmaceuticals, Inc. 9,560 373,796 * Gentiva Health Services, Inc. 33,864 387,743 * Geron Corp. 29,750 117,512 * Greatbatch, Inc. 25,442 969,849 #* GTx, Inc. 14,515 24,821 #* Haemonetics Corp. 29,388 1,191,977 * Hanger, Inc. 33,076 1,213,889 * Harvard Bioscience, Inc. 35,325 208,064 * Health Management Associates, Inc. Class A 21,176 271,476 * Health Net, Inc. 77,846 2,366,518 # HealthSouth Corp. 17,216 604,454 * HealthStream, Inc. 17,545 626,707 #* Healthways, Inc. 41,838 402,900 #* Hemispherx Biopharma, Inc. 3,300 726 * Henry Schein, Inc. 8,644 971,845 Hi-Tech Pharmacal Co., Inc. 14,824 638,766 Hill-Rom Holdings, Inc. 24,230 1,000,457 #* HMS Holdings Corp. 5,453 115,222 * Hologic, Inc. 145,374 3,254,924 * Hooper Holmes, Inc. 6,931 4,159 * Hospira, Inc. 11,600 470,032 Humana, Inc. 22,241 2,049,508 * ICU Medical, Inc. 13,600 840,480 * Idera Pharmaceuticals, Inc. 20,811 38,292 #* IDEXX Laboratories, Inc. 400 43,144 #* Illumina, Inc. 9,020 843,460 #* Immunomedics, Inc. 19,800 75,042 * Impax Laboratories, Inc. 67,957 1,376,809 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Health Care -- (Continued) * Incyte Corp., Ltd. 9,122 $ 355,758 #* Infinity Pharmaceuticals, Inc. 22,264 301,677 #* Integra LifeSciences Holdings Corp. 19,299 883,508 * Intuitive Surgical, Inc. 1,500 557,250 Invacare Corp. 33,676 723,024 #* IPC The Hospitalist Co., Inc. 7,278 398,762 #* Iridex Corp. 1,950 11,641 #* IsoRay, Inc. 6,500 3,348 * Jazz Pharmaceuticals P.L.C. 4,993 453,065 Johnson & Johnson 61,338 5,680,512 Kewaunee Scientific Corp. 2,037 35,362 # Kindred Healthcare, Inc. 63,035 874,926 * Laboratory Corp. of America Holdings 4,480 452,032 Landauer, Inc. 2,932 141,909 * Lannett Co., Inc. 29,173 688,775 * LCA-Vision, Inc. 17,229 56,683 LeMaitre Vascular, Inc. 15,418 123,961 #* LHC Group, Inc. 19,752 406,891 * Life Technologies Corp. 24,787 1,866,709 * LifePoint Hospitals, Inc. 53,422 2,758,712 * Luminex Corp. 12,941 252,349 * Magellan Health Services, Inc. 29,263 1,717,738 * Mallinckrodt P.L.C. 1,945 81,709 Masimo Corp. 104 2,664 * Mast Therapeutics, Inc. 19,471 9,541 (d)* Maxygen, Inc. 41,232 1,237 McKesson Corp. 8,300 1,297,622 * MedAssets, Inc. 56,505 1,301,310 (d)* MedCath Corp. 19,024 26,063 * Medical Action Industries, Inc. 17,432 105,638 * Medicines Co. (The) 39,914 1,353,883 #* MediciNova, Inc. 12,083 29,845 * Medidata Solutions, Inc. 5,030 554,859 * Medivation, Inc. 606 36,275 #* MEDNAX, Inc. 15,393 1,678,145 Medtronic, Inc. 35,647 2,046,138 Merck & Co., Inc. 149,737 6,751,641 #* Merit Medical Systems, Inc. 48,789 780,136 #* Metabolix, Inc. 1,126 1,239 #* Misonix, Inc. 3,363 14,057 * Molina Healthcare, Inc. 46,900 1,483,916 #* Momenta Pharmaceuticals, Inc. 28,579 468,410 * MWI Veterinary Supply, Inc. 4,880 774,163 * Mylan, Inc. 25,528 966,745 #* Myriad Genetics, Inc. 24,779 604,112 * Nanosphere, Inc. 19,664 38,345 # National Healthcare Corp. 14,015 678,046 * National Research Corp. Class A 14,574 255,628 # National Research Corp. Class B 2,429 67,988 * Natus Medical, Inc. 34,369 678,100 #* Neogen Corp. 12,035 556,235 * NuVasive, Inc. 42,936 1,364,506 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Health Care -- (Continued) Omnicare, Inc. 109,511 $ 6,039,532 * Omnicell, Inc. 37,756 871,031 * OncoGenex Pharmaceutical, Inc. 350 2,461 #* OraSure Technologies, Inc. 10,332 67,365 * Orthofix International NV 11,146 228,382 * Osiris Therapeutics, Inc. 4,893 65,126 # Owens & Minor, Inc. 64,899 2,428,521 * Pacific Biosciences of California, Inc. 6,720 27,619 # Pain Therapeutics, Inc. 34,082 124,740 #* PAREXEL International Corp. 35,821 1,637,378 Patterson Cos., Inc. 10,176 432,582 * PDI, Inc. 16,959 80,894 # PDL BioPharma, Inc. 34,563 279,615 PerkinElmer, Inc. 73,180 2,783,767 #* Pernix Therapeutics Holdings 4,944 10,333 Perrigo Co. 5,287 729,024 Pfizer, Inc. 427,541 13,116,958 #* PharMerica Corp. 32,772 483,715 #* PhotoMedex, Inc. 9,512 120,232 #* Pozen, Inc. 31,193 196,048 #* Progenics Pharmaceuticals, Inc. 26,897 97,905 * ProPhase Labs, Inc. 6,052 10,046 * Providence Service Corp. (The) 14,336 428,503 #* pSivida Corp. 13,195 32,328 Quality Systems, Inc. 4,390 100,180 # Quest Diagnostics, Inc. 11,000 659,010 # Questcor Pharmaceuticals, Inc. 7,700 472,549 * Quidel Corp. 26,335 650,474 #* RadNet, Inc. 10,874 26,641 * Regeneron Pharmaceuticals, Inc. 6,200 1,783,120 #* Repligen Corp. 30,484 333,495 #* Repros Therapeutics, Inc. 186 3,355 # ResMed, Inc. 9,600 496,704 #* Rigel Pharmaceuticals, Inc. 50,219 155,177 * Rochester Medical Corp. 12,087 241,498 * RTI Biologics, Inc. 60,665 169,255 #* Sagent Pharmaceuticals, Inc. 1,415 30,691 * Salix Pharmaceuticals, Ltd. 3,676 263,753 #* Sangamo Biosciences, Inc. 21,281 199,403 #* Santarus, Inc. 24,354 568,179 * Sciclone Pharmaceuticals, Inc. 63,164 298,766 #* Seattle Genetics, Inc. 7,900 305,177 Select Medical Holdings Corp. 135,195 1,146,454 Simulations Plus, Inc. 1,800 9,432 * Sirona Dental Systems, Inc. 15,186 1,097,188 #* Skilled Healthcare Group, Inc. Class A 19,937 84,932 #* Solta Medical, Inc. 68,183 126,139 # Span-America Medical Systems, Inc. 3,229 60,867 * Special Diversified Opportunities, Inc. 12,404 13,768 * Spectranetics Corp. 25,926 541,594 # Spectrum Pharmaceuticals, Inc. 26,500 227,635 St Jude Medical, Inc. 13,900 797,721 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ------------ Health Care -- (Continued) * Staar Surgical Co. 12,085 $ 160,005 #* StemCells, Inc. 1,150 1,530 #* Stereotaxis, Inc. 1,337 5,843 STERIS Corp. 27,809 1,256,689 Stryker Corp. 9,409 694,949 #* Sucampo Pharmaceuticals, Inc. Class A 13,917 86,285 * SunLink Health Systems, Inc. 1,702 1,370 * SurModics, Inc. 18,031 425,171 * Symmetry Medical, Inc. 41,225 333,922 #* Synageva BioPharma Corp. 557 28,296 * Targacept, Inc. 21,573 102,472 * Team Health Holdings, Inc. 13,423 583,095 Techne Corp. 3,336 291,533 # Teleflex, Inc. 40,088 3,695,312 * Tenet Healthcare Corp. 31,779 1,499,651 #* Theravance, Inc. 3,874 141,943 Thermo Fisher Scientific, Inc. 56,727 5,546,766 * Thoratec Corp. 17,434 752,974 * Tornier NV 7,902 169,972 * Transcept Pharmaceuticals, Inc. 14,106 51,910 * Triple-S Management Corp. Class B 26,978 480,478 #* United Therapeutics Corp. 5,700 504,564 UnitedHealth Group, Inc. 49,560 3,382,966 # Universal American Corp. 94,960 704,603 Universal Health Services, Inc. Class B 12,318 992,338 # US Physical Therapy, Inc. 10,908 348,183 # Utah Medical Products, Inc. 3,789 210,896 * Varian Medical Systems, Inc. 947 68,733 * Vascular Solutions, Inc. 15,185 297,930 * VCA Antech, Inc. 91,528 2,603,972 #* Vical, Inc. 6,156 7,695 * ViroPharma, Inc. 60,530 2,349,775 * WellCare Health Plans, Inc. 35,383 2,359,338 WellPoint, Inc. 49,131 4,166,309 West Pharmaceutical Services, Inc. 44,666 2,159,601 * Wright Medical Group, Inc. 46,466 1,262,481 #* XenoPort, Inc. 17,035 89,093 #* Zalicus, Inc. 1,954 8,559 # Zimmer Holdings, Inc. 12,595 1,101,685 Zoetis, Inc. 134,752 4,266,248 ------------ Total Health Care 236,237,292 ------------ Industrials -- (12.2%) AAON, Inc. 22,666 612,209 AAR Corp. 44,341 1,298,304 ABM Industries, Inc. 56,530 1,555,140 # Acacia Research Corp. 23,571 355,686 #* ACCO Brands Corp. 85,320 499,122 #* Accuride Corp. 24,116 108,522 Aceto Corp. 30,976 494,067 Acme United Corp. 1,921 28,123 # Acorn Energy, Inc. 16,783 63,104 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Industrials -- (Continued) * Active Power, Inc. 960 $ 2,851 Actuant Corp. Class A 63,614 2,389,342 # Acuity Brands, Inc. 7,429 746,689 * Adept Technology, Inc. 10,771 89,615 # ADT Corp. (The) 16,852 730,871 #* Advisory Board Co. (The) 12,196 836,646 * AECOM Technology Corp. 110,026 3,496,626 #* Aegion Corp. 45,505 932,853 #* AeroCentury Corp. 1,149 22,980 #* Aerovironment, Inc. 26,376 715,053 AGCO Corp. 30,064 1,755,136 * Air Transport Services Group, Inc. 71,400 516,936 Aircastle, Ltd. 69,572 1,312,824 Alamo Group, Inc. 13,919 656,838 Alaska Air Group, Inc. 48,307 3,413,373 Albany International Corp. Class A 27,301 1,004,950 Allegiant Travel Co. 11,361 1,184,611 Alliant Techsystems, Inc. 14,804 1,611,712 (d) Allied Defense Group, Inc. (The) 6,064 31,836 Allied Motion Technologies, Inc. 7,832 74,796 Altra Holdings, Inc. 30,432 924,220 AMERCO 19,302 3,897,653 #* Ameresco, Inc. Class A 11,757 122,978 # American Railcar Industries, Inc. 23,316 955,023 American Science & Engineering, Inc. 7,892 519,136 #* American Superconductor Corp. 12,387 27,004 * American Woodmark Corp. 14,123 479,052 AMETEK, Inc. 14,445 690,904 Ampco-Pittsburgh Corp. 10,468 192,716 #* AMREP Corp. 6,528 52,550 AO Smith Corp. 40,588 2,096,370 # Apogee Enterprises, Inc. 30,486 953,602 Applied Industrial Technologies, Inc. 32,827 1,553,045 * ARC Document Solutions, Inc. 56,879 354,925 # Argan, Inc. 13,114 291,787 Arkansas Best Corp. 28,900 790,993 #* Armstrong World Industries, Inc. 20,139 1,076,027 #* Ascent Solar Technologies, Inc. 31,175 29,305 Astec Industries, Inc. 26,155 884,301 * Astronics Corp. 8,740 428,784 * Astronics Corp. Class B 1,748 84,411 * Atlas Air Worldwide Holdings, Inc. 30,680 1,136,080 * Avalon Holdings Corp. Class A 700 3,626 * Avis Budget Group, Inc. 118,265 3,705,242 AZZ, Inc. 25,170 1,130,133 * B/E Aerospace, Inc. 17,682 1,435,071 Babcock & Wilcox Co. (The) 4,536 146,105 Baltic Trading, Ltd. 11,628 52,093 Barnes Group, Inc. 54,174 1,925,344 Barrett Business Services, Inc. 10,851 903,563 #* Beacon Roofing Supply, Inc. 38,569 1,338,730 Belden, Inc. 23,622 1,588,816 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Industrials -- (Continued) * Blount International, Inc. 12,197 $ 148,559 #* BlueLinx Holdings, Inc. 61,893 115,121 Brady Corp. Class A 47,254 1,379,344 * Breeze-Eastern Corp. 7,923 73,882 # Briggs & Stratton Corp. 54,853 1,006,004 Brink's Co. (The) 24,042 754,919 * Broadwind Energy, Inc. 70 511 #* Builders FirstSource, Inc. 61,194 453,448 * CAI International, Inc. 23,007 503,623 Carlisle Cos., Inc. 30,362 2,206,710 * Casella Waste Systems, Inc. Class A 26,530 156,792 #* CBIZ, Inc. 57,012 465,218 CDI Corp. 20,602 330,662 # Ceco Environmental Corp. 16,485 290,960 # Celadon Group, Inc. 26,129 484,432 #* Chart Industries, Inc. 23,323 2,506,523 Chicago Bridge & Iron Co. NV 4,295 318,217 # Chicago Rivet & Machine Co. 508 16,866 # Cintas Corp. 14,003 752,941 CIRCOR International, Inc. 18,896 1,393,958 # CLARCOR, Inc. 7,342 429,360 #* Clean Harbors, Inc. 5,654 349,135 * CNH Industrial NV 21,988 257,919 Coleman Cable, Inc. 6,036 148,486 * Colfax Corp. 16,318 913,155 * Columbus McKinnon Corp. 21,870 568,839 Comfort Systems USA, Inc. 43,599 812,249 #* Command Security Corp. 5,329 8,153 * Commercial Vehicle Group, Inc. 7,587 59,710 # Compx International, Inc. 2,522 35,787 Con-way, Inc. 53,807 2,216,848 * Consolidated Graphics, Inc. 11,700 749,853 Copa Holdings SA Class A 68 10,169 * Copart, Inc. 11,279 363,522 Corporate Executive Board Co. (The) 8,386 611,339 * Costa, Inc. 8,242 165,829 Courier Corp. 16,697 283,682 Covanta Holding Corp. 114,797 1,971,065 * Covenant Transportation Group, Inc. Class A 11,052 72,170 #* CPI Aerostructures, Inc. 6,498 80,575 * CRA International, Inc. 11,485 218,789 Crane Co. 10,086 640,461 CSX Corp. 165,538 4,313,920 Cubic Corp. 24,030 1,261,575 Cummins, Inc. 5,600 711,312 Curtiss-Wright Corp. 52,171 2,597,072 Danaher Corp. 20,920 1,508,123 Deere & Co. 6,000 491,040 Delta Air Lines, Inc. 51,800 1,366,484 # Deluxe Corp. 16,822 792,148 * DigitalGlobe, Inc. 79,171 2,519,221 * Dolan Co. (The) 31,785 81,687 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Industrials -- (Continued) # Donaldson Co., Inc. 2,300 $ 91,103 Douglas Dynamics, Inc. 25,084 380,524 Dover Corp. 12,776 1,172,709 #* Ducommun, Inc. 11,679 290,340 # Dun & Bradstreet Corp. (The) 4,626 503,263 #* DXP Enterprises, Inc. 10,820 994,358 * Dycom Industries, Inc. 35,016 1,038,224 Dynamic Materials Corp. 14,706 325,003 #* Eagle Bulk Shipping, Inc. 14,547 80,881 # Eastern Co. (The) 5,585 92,432 Eaton Corp. P.L.C. 29,601 2,088,647 #* Echo Global Logistics, Inc. 16,148 297,285 Ecology and Environment, Inc. Class A 2,769 30,459 EMCOR Group, Inc. 62,324 2,309,727 # Encore Wire Corp. 22,353 1,107,144 #* Energy Recovery, Inc. 44,908 262,263 #* EnerNOC, Inc. 33,287 553,563 # EnerSys, Inc. 46,160 3,062,716 #* Engility Holdings, Inc. 15,624 483,875 Ennis, Inc. 32,470 576,343 #* EnPro Industries, Inc. 21,572 1,287,201 EnviroStar, Inc. 1,100 3,300 Equifax, Inc. 11,845 766,016 ESCO Technologies, Inc. 26,275 948,002 # Espey Manufacturing & Electronics Corp. 3,027 98,378 * Esterline Technologies Corp. 33,462 2,682,314 Exelis, Inc. 102,197 1,685,229 Expeditors International of Washington, Inc. 10,482 474,730 # Exponent, Inc. 10,060 760,637 * Federal Signal Corp. 64,194 878,816 FedEx Corp. 21,280 2,787,680 * Flow International Corp. 49,798 198,694 Flowserve Corp. 10,200 708,594 Fluor Corp. 8,135 603,780 Fortune Brands Home & Security, Inc. 32,275 1,390,407 Forward Air Corp. 7,700 311,696 * Franklin Covey Co. 20,197 379,704 Franklin Electric Co., Inc. 35,544 1,345,340 # FreightCar America, Inc. 13,112 291,611 * FTI Consulting, Inc. 47,609 1,931,973 * Fuel Tech, Inc. 26,879 121,762 * Furmanite Corp. 39,958 449,528 G&K Services, Inc. Class A 20,819 1,299,106 GATX Corp. 50,833 2,620,441 #* Genco Shipping & Trading, Ltd. 42,355 113,088 #* Gencor Industries, Inc. 4,926 44,974 #* GenCorp, Inc. 18,966 318,629 Generac Holdings, Inc. 6,138 302,910 # General Cable Corp. 56,963 1,875,792 General Dynamics Corp. 22,257 1,928,124 General Electric Co. 856,705 22,394,269 * Genesee & Wyoming, Inc. Class A 19,426 1,939,492 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Industrials -- (Continued) * Gibraltar Industries, Inc. 33,716 $ 539,793 Global Power Equipment Group, Inc. 15,083 307,090 #* Goldfield Corp. (The) 9,421 17,900 Gorman-Rupp Co. (The) 15,385 626,785 * GP Strategies Corp. 18,640 522,293 # Graco, Inc. 4,338 335,154 #* GrafTech International, Ltd. 103,769 923,544 Graham Corp. 9,534 350,947 Granite Construction, Inc. 40,663 1,315,448 # Great Lakes Dredge & Dock Corp. 66,485 539,858 #* Greenbrier Cos., Inc. 32,885 872,768 Griffon Corp. 69,548 871,436 * H&E Equipment Services, Inc. 37,311 933,894 Hardinge, Inc. 13,131 194,208 Harsco Corp. 76,570 2,134,772 #* Hawaiian Holdings, Inc. 57,468 474,111 Heartland Express, Inc. 24,726 355,065 # HEICO Corp. 11,778 631,038 HEICO Corp. Class A 25,945 1,010,817 Heidrick & Struggles International, Inc. 19,217 355,899 #* Heritage-Crystal Clean, Inc. 1,954 34,527 Herman Miller, Inc. 11,372 345,026 * Hertz Global Holdings, Inc. 61,491 1,411,833 * Hexcel Corp. 22,061 933,401 #* Hill International, Inc. 40,646 139,822 HNI Corp. 22,562 876,534 Honeywell International, Inc. 1,900 164,787 Houston Wire & Cable Co. 21,411 296,971 * Hub Group, Inc. Class A 23,276 854,927 Hubbell, Inc. Class A 1,952 188,954 Hubbell, Inc. Class B 6,877 739,553 * Hudson Global, Inc. 34,265 111,361 Huntington Ingalls Industries, Inc. 14,948 1,069,529 Hurco Cos., Inc. 6,280 153,797 * Huron Consulting Group, Inc. 19,115 1,119,566 Hyster-Yale Materials Handling, Inc. 13,948 1,094,081 * ICF International, Inc. 21,709 751,566 IDEX Corp. 20,283 1,402,569 * IHS, Inc. Class A 4,370 476,549 * II-VI, Inc. 47,224 805,641 # Illinois Tool Works, Inc. 13,917 1,096,520 Ingersoll-Rand P.L.C. 22,300 1,505,919 #* InnerWorkings, Inc. 36,891 353,047 * Innotrac Corp. 2,916 19,566 # Innovative Solutions & Support, Inc. 16,826 132,589 Insperity, Inc. 15,017 580,707 Insteel Industries, Inc. 19,007 315,326 * Integrated Electrical Services, Inc. 12,442 57,980 # Interface, Inc. 26,004 526,581 International Shipholding Corp. 1,100 27,302 # Intersections, Inc. 18,573 159,171 Iron Mountain, Inc. 19,147 508,161 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Industrials -- (Continued) ITT Corp. 29,937 $1,189,397 * Jacobs Engineering Group, Inc. 12,712 773,144 # JB Hunt Transport Services, Inc. 6,000 450,180 #* JetBlue Airways Corp. 326,826 2,317,196 John Bean Technologies Corp. 16,543 449,639 # Joy Global, Inc. 1,087 61,687 Kadant, Inc. 1,953 69,917 Kaman Corp. 30,968 1,151,390 Kansas City Southern 13,629 1,656,196 KAR Auction Services, Inc. 58,679 1,743,940 KBR, Inc. 23,475 810,827 Kelly Services, Inc. Class A 41,979 875,682 Kelly Services, Inc. Class B 700 14,987 Kennametal, Inc. 22,939 1,055,194 * Key Technology, Inc. 5,258 76,083 Kforce, Inc. 37,672 741,762 Kimball International, Inc. Class B 34,765 406,751 #* Kirby Corp. 23,203 2,053,233 # Knight Transportation, Inc. 81,536 1,383,666 Knoll, Inc. 9,371 153,872 * Korn/Ferry International 54,689 1,301,598 * Kratos Defense & Security Solutions, Inc. 52,185 442,529 L-3 Communications Holdings, Inc. 51,364 5,159,514 Landstar System, Inc. 3,029 167,473 #* Lawson Products, Inc. 8,745 114,734 #* Layne Christensen Co. 23,728 458,900 LB Foster Co. Class A 11,249 525,891 Lennox International, Inc. 6,221 485,611 Lincoln Electric Holdings, Inc. 19,400 1,343,256 # Lindsay Corp. 5,627 427,708 #* LMI Aerospace, Inc. 13,707 215,200 # LS Starrett Co. (The) Class A 6,944 78,953 LSI Industries, Inc. 32,842 302,475 #* Luna Innovations, Inc. 3,800 5,472 * Lydall, Inc. 17,009 309,904 * Magnetek, Inc. 1,197 21,690 #* Manitex International, Inc. 3,300 42,669 # Manitowoc Co., Inc. (The) 58,740 1,143,080 Manpowergroup, Inc. 58,135 4,540,344 Marten Transport, Ltd. 38,690 682,492 Masco Corp. 60,333 1,274,836 #* MasTec, Inc. 75,702 2,420,193 Mastech Holdings, Inc. 793 11,562 Matson, Inc. 40,660 1,101,479 McGrath RentCorp 24,586 876,983 * Meritor, Inc. 42,906 294,764 #* Metalico, Inc. 43,586 71,481 * Mfri, Inc. 5,730 67,843 * Middleby Corp. 6,296 1,433,284 Miller Industries, Inc. 13,234 248,005 Mine Safety Appliances Co. 21,994 1,059,231 * Mistras Group, Inc. 14,894 273,454 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Industrials -- (Continued) * Mobile Mini, Inc. 51,626 $1,864,731 * Moog, Inc. Class A 39,159 2,338,967 * Moog, Inc. Class B 2,977 180,049 MSC Industrial Direct Co., Inc. Class A 2,891 220,786 Mueller Industries, Inc. 35,636 2,148,494 Mueller Water Products, Inc. Class A 171,486 1,469,635 # Multi-Color Corp. 15,592 543,069 * MYR Group, Inc. 24,059 636,361 # National Presto Industries, Inc. 7,418 523,340 * National Technical Systems, Inc. 10,048 229,999 * Navigant Consulting, Inc. 53,474 927,774 #* Navistar International Corp. 4,695 169,771 #* NCI Building Systems, Inc. 1,411 20,361 Nielsen Holdings NV 22,800 899,232 NL Industries, Inc. 44,564 519,616 NN, Inc. 18,861 303,285 Nordson Corp. 8,370 603,393 Norfolk Southern Corp. 48,705 4,189,604 Northrop Grumman Corp. 17,610 1,893,251 * Northwest Pipe Co. 9,909 357,021 #* Ocean Power Technologies, Inc. 8,120 19,082 * Old Dominion Freight Line, Inc. 44,451 2,084,752 # Omega Flex, Inc. 4,638 94,337 * On Assignment, Inc. 40,261 1,360,419 * Orbital Sciences Corp. 65,692 1,515,514 * Orion Energy Systems, Inc. 20,365 86,551 * Orion Marine Group, Inc. 21,687 271,088 * Oshkosh Corp. 76,569 3,643,919 * Owens Corning 115,475 4,149,017 PACCAR, Inc. 6,817 379,025 * Pacer International, Inc. 39,593 315,952 Pall Corp. 7,100 571,692 PAM Transportation Services, Inc. 8,221 143,045 * Park-Ohio Holdings Corp. 12,584 521,103 Parker Hannifin Corp. 10,214 1,192,178 * Patrick Industries, Inc. 9,134 285,712 * Patriot Transportation Holding, Inc. 7,423 274,428 * Pendrell Corp. 45,689 101,886 Pentair, Ltd. 57,632 3,866,531 * PGT, Inc. 41,352 432,128 Pike Electric Corp. 40,043 432,865 # Pitney Bowes, Inc. 4,400 93,896 #* PMFG, Inc. 8,778 68,820 #* Polypore International, Inc. 11,353 513,156 * Powell Industries, Inc. 12,981 815,596 #* PowerSecure International, Inc. 22,223 401,792 Precision Castparts Corp. 2,800 709,660 Preformed Line Products Co. 5,844 491,013 # Primoris Services Corp. 14,874 387,319 # Providence and Worcester Railroad Co. 2,562 52,444 Quad/Graphics, Inc. 12,464 435,243 * Quality Distribution, Inc. 11,361 116,791 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Industrials -- (Continued) # Quanex Building Products Corp. 41,122 $ 731,149 * Quanta Services, Inc. 99,324 3,000,578 # Raven Industries, Inc. 13,629 454,663 Raytheon Co. 11,993 987,863 * RBC Bearings, Inc. 13,626 937,333 # RCM Technologies, Inc. 10,468 67,519 #* Real Goods Solar, Inc. Class A 3,465 11,608 Regal-Beloit Corp. 19,100 1,400,603 * Republic Airways Holdings, Inc. 54,181 638,252 Republic Services, Inc. 61,244 2,049,837 Resources Connection, Inc. 47,834 610,362 * Roadrunner Transportation Systems, Inc. 34,018 901,477 Robert Half International, Inc. 1,000 38,530 Rockwell Automation, Inc. 9,200 1,015,772 Rollins, Inc. 11,475 317,169 Roper Industries, Inc. 9,010 1,142,558 #* RPX Corp. 36,323 648,729 # RR Donnelley & Sons Co. 64,795 1,203,243 * Rush Enterprises, Inc. Class A 33,563 960,573 #* Rush Enterprises, Inc. Class B 4,506 109,541 Ryder System, Inc. 57,322 3,773,507 * Saia, Inc. 27,022 879,026 Schawk, Inc. 26,443 386,597 * Sensata Technologies Holding NV 5,165 194,359 Servotronics, Inc. 1,499 12,652 SIFCO Industries, Inc. 4,888 108,416 Simpson Manufacturing Co., Inc. 48,444 1,717,340 SkyWest, Inc. 65,489 984,955 SL Industries, Inc. 9,000 243,000 # SmartPros, Ltd. 1,700 3,400 Snap-on, Inc. 22,655 2,357,706 Southwest Airlines Co. 417,610 7,191,244 * Sparton Corp. 10,134 267,436 * Spirit Aerosystems Holdings, Inc. Class A 41,712 1,113,293 * Spirit Airlines, Inc. 1,658 71,543 SPX Corp. 17,868 1,620,806 #* Standard Parking Corp. 10,006 264,859 #* Standard Register Co. (The) 5,242 44,557 Standex International Corp. 14,134 869,382 Stanley Black & Decker, Inc. 28,315 2,239,433 Steelcase, Inc. Class A 69,400 1,137,466 * Stericycle, Inc. 2,600 302,120 * Sterling Construction Co., Inc. 16,504 158,438 # Sun Hydraulics Corp. 12,252 486,159 * Supreme Industries, Inc. Class A 9,289 56,849 #* Swift Transportation Co. 18,434 401,677 Sypris Solutions, Inc. 17,625 56,224 # TAL International Group, Inc. 35,655 1,722,493 * Taser International, Inc. 53,936 958,443 #* Team, Inc. 17,397 648,734 #* Tecumseh Products Co. Class A 13,430 104,754 * Tecumseh Products Co. Class B 2,690 19,610 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Industrials -- (Continued) * Teledyne Technologies, Inc. 20,382 $1,810,329 # Tennant Co. 8,685 527,093 * Terex Corp. 100,493 3,512,230 * Tetra Tech, Inc. 62,024 1,620,687 # Textainer Group Holdings, Ltd. 51,126 1,937,675 Textron, Inc. 27,184 782,627 * Thermon Group Holdings, Inc. 1,817 42,718 Timken Co. 13,113 692,498 # Titan International, Inc. 37,195 539,328 #* Titan Machinery, Inc. 23,132 408,048 Toro Co. (The) 7,800 459,732 Towers Watson & Co. Class A 5,900 677,379 TransDigm Group, Inc. 4,939 718,180 * TRC Cos., Inc. 18,568 142,788 * Trex Co., Inc. 5,842 410,225 * Trimas Corp. 27,964 1,058,717 # Trinity Industries, Inc. 77,500 3,923,825 Triumph Group, Inc. 28,344 2,030,848 * TrueBlue, Inc. 43,153 1,065,879 #* Tufco Technologies, Inc. 2,000 10,100 * Tutor Perini Corp. 56,338 1,292,957 Twin Disc, Inc. 16,100 416,507 Tyco International, Ltd. 33,704 1,231,881 * Ultralife Corp. 16,511 64,393 UniFirst Corp. 14,692 1,510,631 Union Pacific Corp. 34,880 5,280,832 * United Continental Holdings, Inc. 31,535 1,070,613 #* United Rentals, Inc. 42,810 2,765,098 United Stationers, Inc. 39,596 1,759,646 United Technologies Corp. 20,727 2,202,244 #* UniTek Global Services, Inc. 2,748 3,133 # Universal Forest Products, Inc. 23,626 1,250,288 #* Universal Power Group, Inc. 2,111 2,639 * Universal Security Instruments, Inc. 1,213 5,792 # Universal Truckload Services, Inc. 16,084 428,799 URS Corp. 78,824 4,273,837 #* US Airways Group, Inc. 40,944 899,540 US Ecology, Inc. 14,165 503,566 * USA Truck, Inc. 12,082 160,449 #* USG Corp. 53,224 1,453,547 UTi Worldwide, Inc. 108,331 1,646,631 # Valmont Industries, Inc. 5,100 716,550 * Versar, Inc. 7,645 36,161 Viad Corp. 23,700 632,790 * Vicor Corp. 23,646 208,321 * Virco Manufacturing Corp. 21,636 43,921 * Volt Information Sciences, Inc. 24,400 212,280 VSE Corp. 5,353 234,461 * Wabash National Corp. 4,300 50,138 * WABCO Holdings, Inc. 8,200 702,576 Wabtec Corp. 11,888 774,979 # Waste Connections, Inc. 35,628 1,522,741 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ------------ Industrials -- (Continued) Waste Management, Inc. 15,718 $ 684,362 # Watsco, Inc. 5,991 570,882 Watsco, Inc. Class B 1,205 115,234 Watts Water Technologies, Inc. Class A 30,800 1,779,624 # Werner Enterprises, Inc. 72,968 1,689,939 #* Wesco Aircraft Holdings, Inc. 44,615 817,347 #* WESCO International, Inc. 26,617 2,274,689 * Willdan Group, Inc. 5,554 21,216 #* Willis Lease Finance Corp. 8,183 142,630 Woodward, Inc. 8,559 343,130 WW Grainger, Inc. 3,802 1,022,624 * XPO Logistics, Inc. 17,219 347,479 Xylem, Inc. 16,981 585,845 #* YRC Worldwide, Inc. 1,704 16,154 ------------ Total Industrials 400,495,413 ------------ Information Technology -- (11.2%) #* 3D Systems Corp. 49,813 3,100,361 * Accelrys, Inc. 60,377 564,525 #* ACI Worldwide, Inc. 12,252 675,330 * Active Network, Inc. (The) 14,563 210,290 Activision Blizzard, Inc. 67,323 1,120,255 * Actuate Corp. 46,265 370,583 * Acxiom Corp. 75,579 2,511,490 #* ADDvantage Technologies Group, Inc. 7,160 18,974 * Adobe Systems, Inc. 18,269 990,180 # ADTRAN, Inc. 20,707 486,200 * Advanced Energy Industries, Inc. 42,574 888,945 #* Advanced Micro Devices, Inc. 51,208 171,035 * Advanced Photonix, Inc. Class A 3,200 2,240 Advent Software, Inc. 14,240 477,752 * Aehr Test Systems 2,692 6,865 * Aeroflex Holding Corp. 3,675 28,481 * Aetrium, Inc. 650 2,308 * Agilysys, Inc. 23,700 278,475 * Akamai Technologies, Inc. 8,346 373,400 #* Alliance Data Systems Corp. 2,000 474,120 * Alpha & Omega Semiconductor, Ltd. 5,202 38,287 Altera Corp. 14,759 495,902 Amdocs, Ltd. 14,311 550,258 American Software, Inc. Class A 24,803 217,026 * Amkor Technology, Inc. 170,484 905,270 Amphenol Corp. Class A 8,719 700,049 * Amtech Systems, Inc. 8,142 65,136 #* ANADIGICS, Inc. 86,065 173,851 Analog Devices, Inc. 16,533 815,077 * Anaren, Inc. 15,344 383,293 * Anixter International, Inc. 15,883 1,357,838 * ANSYS, Inc. 6,005 525,137 # AOL, Inc. 91,685 3,322,664 Apple, Inc. 3,743 1,955,156 Applied Materials, Inc. 84,677 1,511,484 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Information Technology -- (Continued) * Applied Micro Circuits Corp. 68,408 $ 797,637 * ARRIS Group, Inc. 120,339 2,149,255 * Arrow Electronics, Inc. 112,721 5,412,862 * AsiaInfo-Linkage, Inc. 49,518 574,409 * Aspen Technology, Inc. 7,189 274,835 Astro-Med, Inc. 7,311 92,703 * Atmel Corp. 54,133 394,088 * ATMI, Inc. 35,894 981,342 * Autobytel, Inc. 2,224 18,126 * Autodesk, Inc. 10,099 403,051 Avago Technologies, Ltd. 14,754 670,274 * AVG Technologies NV 1,849 37,165 * Aviat Networks, Inc. 63,193 130,178 * Avid Technology, Inc. 43,600 324,820 Avnet, Inc. 101,470 4,028,359 AVX Corp. 120,148 1,591,961 # Aware, Inc. 18,447 96,478 * Axcelis Technologies, Inc. 96,201 208,756 * AXT, Inc. 32,748 74,010 # Badger Meter, Inc. 9,967 518,384 #* Bankrate, Inc. 52,788 888,950 # Bel Fuse, Inc. Class A 3,300 68,046 Bel Fuse, Inc. Class B 9,614 202,279 * Benchmark Electronics, Inc. 77,718 1,766,530 Black Box Corp. 25,515 638,896 # Blackbaud, Inc. 15,029 541,044 #* Blucora, Inc. 44,670 1,055,552 # Booz Allen Hamilton Holding Corp. 3,162 62,608 #* Bottomline Technologies de, Inc. 22,107 694,602 Broadcom Corp. Class A 3,000 80,160 Broadridge Financial Solutions, Inc. 8,165 287,081 * BroadVision, Inc. 4,752 46,047 * Brocade Communications Systems, Inc. 447,964 3,592,671 Brooks Automation, Inc. 74,222 715,500 #* Bsquare Corp. 8,148 26,237 * BTU International, Inc. 6,833 22,617 CA, Inc. 25,887 822,171 * Cabot Microelectronics Corp. 21,805 891,606 #* CACI International, Inc. Class A 29,488 2,122,546 #* Cadence Design Systems, Inc. 24,600 319,062 * CalAmp Corp. 10,864 255,630 * Calix, Inc. 53,338 542,447 * Cardtronics, Inc. 9,557 375,112 * Cascade Microtech, Inc. 12,931 132,413 # Cass Information Systems, Inc. 10,842 621,572 * Ceva, Inc. 21,943 314,443 * Checkpoint Systems, Inc. 47,745 812,620 #* China Information Technology, Inc. 2,969 13,568 * ChyronHego Corp. 2,300 3,450 * CIBER, Inc. 92,440 300,430 * Ciena Corp. 7,954 185,090 #* Cirrus Logic, Inc. 24,009 538,522 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Information Technology -- (Continued) Cisco Systems, Inc. 247,888 $5,577,480 * Citrix Systems, Inc. 8,516 483,538 #* Clearfield, Inc. 8,316 123,409 Cognex Corp. 62,694 1,959,188 #* Cogo Group, Inc. 9,130 21,638 Coherent, Inc. 22,020 1,457,504 Cohu, Inc. 26,029 248,837 Communications Systems, Inc. 13,122 149,722 * CommVault Systems, Inc. 5,207 406,563 Computer Sciences Corp. 24,516 1,207,658 Computer Task Group, Inc. 16,515 282,902 Compuware Corp. 114,697 1,224,964 * comScore, Inc. 7,079 189,151 Comtech Telecommunications Corp. 24,798 744,436 * Comverse, Inc. 22 695 #* Concur Technologies, Inc. 4,757 497,582 Concurrent Computer Corp. 7,430 54,759 #* Constant Contact, Inc. 11,895 308,199 # Convergys Corp. 126,940 2,505,796 * CoreLogic, Inc. 102,327 3,404,419 Corning, Inc. 237,366 4,056,585 * CoStar Group, Inc. 8,795 1,556,627 * Cray, Inc. 39,804 890,017 #* Cree, Inc. 68,311 4,149,893 #* Crexendo, Inc. 6,718 20,826 # CSG Systems International, Inc. 36,325 1,012,015 CSP, Inc. 2,269 17,154 CTS Corp. 39,077 727,614 * CyberOptics Corp. 7,973 40,423 # Cypress Semiconductor Corp. 7,184 66,668 Daktronics, Inc. 41,222 493,015 * Datalink Corp. 17,293 177,599 * Dataram Corp. 1,316 3,211 * Dealertrack Technologies, Inc. 38,086 1,420,608 #* Demand Media, Inc. 24,294 116,125 #* Dice Holdings, Inc. 63,896 471,552 # Diebold, Inc. 48,740 1,460,250 * Digi International, Inc. 26,868 270,829 Digimarc Corp. 5,363 112,945 * Digital River, Inc. 37,474 668,536 * Diodes, Inc. 42,436 1,027,800 * Dot Hill Systems Corp. 51,635 149,742 * DSP Group, Inc. 22,785 169,748 DST Systems, Inc. 11,104 941,286 * DTS, Inc. 15,823 316,460 * Dynamics Research Corp. 9,728 71,987 EarthLink, Inc. 116,896 591,494 * eBay, Inc. 38,237 2,015,472 # Ebix, Inc. 29,521 335,949 #* Echelon Corp. 10,191 22,114 * EchoStar Corp. Class A 39,899 1,913,556 * Edgewater Technology, Inc. 8,479 58,081 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Information Technology -- (Continued) #* Elecsys Corp. 1,496 $ 13,135 Electro Rent Corp. 26,078 473,055 Electro Scientific Industries, Inc. 33,107 396,622 * Electronic Arts, Inc. 19,023 499,354 * Electronics for Imaging, Inc. 45,192 1,550,538 #* Ellie Mae, Inc. 2,429 70,198 # eMagin Corp. 11,664 32,076 EMC Corp. 65,000 1,564,550 #* Emcore Corp. 26,656 142,076 * Emulex Corp. 101,274 762,593 * Entegris, Inc. 161,194 1,668,358 * Entropic Communications, Inc. 92,050 393,974 * Envestnet, Inc. 3,782 137,287 EPIQ Systems, Inc. 39,574 592,027 ePlus, Inc. 8,798 478,259 #* Equinix, Inc. 3,982 643,013 * Euronet Worldwide, Inc. 48,710 2,114,014 * Exar Corp. 52,119 600,932 * ExlService Holdings, Inc. 22,179 641,195 * Extreme Networks 102,706 550,504 * F5 Networks, Inc. 3,400 277,134 * Fabrinet 26,218 438,889 # FactSet Research Systems, Inc. 1,700 185,198 Fair Isaac Corp. 37,239 2,133,050 * Fairchild Semiconductor International, Inc. 151,838 1,923,787 * FalconStor Software, Inc. 29,232 43,263 * FARO Technologies, Inc. 15,152 719,720 FEI Co. 30,474 2,714,624 Fidelity National Information Services, Inc. 150,228 7,323,615 * Finisar Corp. 60,798 1,398,962 #* First Solar, Inc. 96,345 4,843,263 * Fiserv, Inc. 12,226 1,280,429 FLIR Systems, Inc. 15,627 445,057 * FormFactor, Inc. 63,834 333,213 Forrester Research, Inc. 15,618 606,135 * Freescale Semiconductor, Ltd. 7,066 109,099 Frequency Electronics, Inc. 8,185 90,935 * Gartner, Inc. 8,459 498,658 * Genpact, Ltd. 6,410 127,110 #* GigOptix, Inc. 3,278 4,589 * Global Cash Access Holdings, Inc. 65,221 541,334 Global Payments, Inc. 5,500 327,140 Globalscape, Inc. 2,198 3,682 #* Globecomm Systems, Inc. 26,305 369,059 * GSE Systems, Inc. 26,843 45,633 * GSI Group, Inc. 36,710 366,366 * GSI Technology, Inc. 27,206 190,986 #* GT Advanced Technologies, Inc. 24,000 180,000 #* Guidance Software, Inc. 9,803 85,678 * Guidewire Software, Inc. 500 25,360 Hackett Group, Inc. (The) 41,738 297,175 * Harmonic, Inc. 120,507 880,906 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Information Technology -- (Continued) Harris Corp. 9,532 $ 590,603 * Hauppauge Digital, Inc. 7,708 2,721 # Heartland Payment Systems, Inc. 6,699 270,975 Hewlett-Packard Co. 236,991 5,775,471 * Hittite Microwave Corp. 9,389 599,863 * Hutchinson Technology, Inc. 29,439 109,513 IAC/InterActiveCorp 115,491 6,166,065 #* ID Systems, Inc. 11,992 62,358 * Identive Group, Inc. 42,924 27,467 #* IEC Electronics Corp. 7,468 32,112 * iGATE Corp. 22,110 703,982 #* iGO, Inc. 776 2,274 #* Ikanos Communications, Inc. 8,330 10,912 * Imation Corp. 39,287 182,685 * Immersion Corp. 21,510 273,607 * Infinera Corp. 82,316 840,446 * Informatica Corp. 6,484 250,282 * Ingram Micro, Inc. Class A 149,359 3,460,648 * Innodata, Inc. 21,458 51,499 #* Inphi Corp. 22,079 325,444 * Insight Enterprises, Inc. 64,391 1,356,718 * Integrated Device Technology, Inc. 187,332 1,993,212 * Integrated Silicon Solution, Inc. 30,568 329,523 Intel Corp. 277,316 6,774,830 * Intellicheck Mobilisa, Inc. 2,300 1,035 * Interactive Intelligence Group, Inc. 7,937 487,729 InterDigital, Inc. 3,715 143,956 * Internap Network Services Corp. 55,781 405,528 * International Rectifier Corp. 83,537 2,175,303 #* Interphase Corp. 4,200 17,094 Intersil Corp. Class A 143,171 1,597,788 # inTEST Corp. 2,202 8,478 #* Intevac, Inc. 24,856 126,766 * IntraLinks Holdings, Inc. 15,269 158,645 * IntriCon Corp. 6,777 30,022 Intuit, Inc. 6,400 457,024 #* Inuvo, Inc. 3,127 5,128 # IPG Photonics Corp. 9,261 613,726 * Iteris, Inc. 13,000 26,650 #* Itron, Inc. 34,883 1,488,458 * Ixia 55,569 787,968 IXYS Corp. 35,507 412,946 # j2 Global, Inc. 25,250 1,388,245 Jabil Circuit, Inc. 49,752 1,037,827 Jack Henry & Associates, Inc. 10,749 587,003 #* JDS Uniphase Corp. 26,000 340,340 * Juniper Networks, Inc. 142,061 2,648,017 #* Kemet Corp. 49,217 279,060 #* Key Tronic Corp. 11,045 119,838 KLA-Tencor Corp. 11,000 721,600 * Kopin Corp. 75,094 275,595 * Kulicke & Soffa Industries, Inc. 83,769 1,080,620 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Information Technology -- (Continued) * KVH Industries, Inc. 18,537 $ 254,698 * Lam Research Corp. 47,402 2,570,610 * Lattice Semiconductor Corp. 128,936 661,442 # Leidos Holdings, Inc. 13,282 625,449 Lender Processing Services, Inc. 8,446 291,556 Lexmark International, Inc. Class A 66,659 2,369,727 * LGL Group, Inc. (The) 1,300 7,722 * Limelight Networks, Inc. 99,614 191,259 # Linear Technology Corp. 3,740 153,864 #* Lionbridge Technologies, Inc. 26,308 114,703 #* Liquidity Services, Inc. 1,243 32,455 Littelfuse, Inc. 14,744 1,253,682 * LoJack Corp. 26,126 114,432 LSI Corp. 52,348 443,911 * LTX-Credence Corp. 54,157 331,982 * Magnachip Semiconductor Corp. 39,632 740,722 * Management Network Group, Inc. 1,166 3,218 * Manhattan Associates, Inc. 8,910 949,004 # ManTech International Corp. Class A 26,394 737,448 Marchex, Inc. Class B 28,607 255,174 Marvell Technology Group, Ltd. 258,459 3,101,508 #* Mattersight Corp. 2,773 11,730 #* Mattson Technology, Inc. 53,844 159,378 Maxim Integrated Products, Inc. 16,551 491,565 MAXIMUS, Inc. 36,062 1,747,204 #* MaxLinear, Inc. Class A 7,390 63,997 #* Maxwell Technologies, Inc. 29,925 224,438 * Measurement Specialties, Inc. 15,274 851,220 Mentor Graphics Corp. 115,618 2,552,845 #* Mercury Systems, Inc. 36,698 338,356 Mesa Laboratories, Inc. 2,579 179,576 Methode Electronics, Inc. 42,014 1,074,718 Micrel, Inc. 58,395 537,234 # Microchip Technology, Inc. 12,600 541,296 * Micron Technology, Inc. 569,578 10,070,139 #* MICROS Systems, Inc. 12,220 662,935 * Microsemi Corp. 83,904 2,108,508 #* Millennial Media, Inc. 5,308 37,315 #* Mindspeed Technologies, Inc. 39,726 114,808 MKS Instruments, Inc. 58,355 1,729,642 # MOCON, Inc. 7,200 100,440 * ModusLink Global Solutions, Inc. 41,970 172,916 Molex, Inc. 8,705 336,013 Molex, Inc. Class A 21,424 824,824 * MoneyGram International, Inc. 3,282 69,283 Monolithic Power Systems, Inc. 31,902 1,015,760 Monotype Imaging Holdings, Inc. 34,236 966,140 #* Monster Worldwide, Inc. 108,437 468,448 #* MoSys, Inc. 34,527 151,919 Motorola Solutions, Inc. 9,075 567,369 * Move, Inc. 21,403 363,209 MTS Systems Corp. 11,683 763,134 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Information Technology -- (Continued) * Multi-Fineline Electronix, Inc. 22,775 $ 305,413 #* Nanometrics, Inc. 21,530 400,027 #* NAPCO Security Technologies, Inc. 11,790 66,260 National Instruments Corp. 11,250 326,813 #* NCI, Inc. Class A 7,471 42,585 * NCR Corp. 22,900 836,995 #* NeoPhotonics Corp. 3,057 21,674 NetApp, Inc. 24,000 931,440 * NETGEAR, Inc. 33,758 970,880 #* Netlist, Inc. 10,407 8,537 * Netscout Systems, Inc. 26,955 763,366 #* NetSuite, Inc. 4,884 492,698 * NeuStar, Inc. Class A 7,297 335,078 * Newport Corp. 44,162 700,851 NIC, Inc. 15,484 381,216 #* Novatel Wireless, Inc. 39,494 121,049 * Nuance Communications, Inc. 22,798 354,737 #* Numerex Corp. Class A 5,996 70,813 NVIDIA Corp. 38,551 585,204 #* Oclaro, Inc. 74,291 151,554 * Official Payments Holdings, Inc. 16,383 136,634 #* OmniVision Technologies, Inc. 64,775 907,498 #* ON Semiconductor Corp. 56,713 400,394 * Onvia, Inc. 700 3,430 * Oplink Communications, Inc. 26,521 484,008 # Optical Cable Corp. 6,626 26,438 * OSI Systems, Inc. 15,752 1,147,376 #* Pandora Media, Inc. 1,300 32,669 * PAR Technology Corp. 12,088 67,209 Park Electrochemical Corp. 22,633 634,856 #* Parkervision, Inc. 2,838 7,776 PC Connection, Inc. 27,310 545,927 PC-Tel, Inc. 23,419 215,689 #* PCM, Inc. 12,900 135,708 * PDF Solutions, Inc. 21,746 499,506 Perceptron, Inc. 9,285 129,897 * Perficient, Inc. 34,541 624,847 * Performance Technologies, Inc. 10,667 33,068 * Pericom Semiconductor Corp. 26,855 216,988 * Photronics, Inc. 68,273 573,493 #* Pixelworks, Inc. 12,700 57,531 #* Planar Systems, Inc. 16,655 34,809 Plantronics, Inc. 28,049 1,204,424 * Plexus Corp. 33,917 1,298,343 * PLX Technology, Inc. 37,157 224,428 * PMC - Sierra, Inc. 217,500 1,276,725 #* Polycom, Inc. 117,441 1,221,386 Power Integrations, Inc. 14,548 835,637 * PRGX Global, Inc. 23,205 166,612 #* Procera Networks, Inc. 6,930 98,060 * Progress Software Corp. 45,735 1,187,281 * PROS Holdings, Inc. 7,157 253,000 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Information Technology -- (Continued) * PTC, Inc. 13,187 $ 365,544 #* Pulse Electronics Corp. 600 2,229 QAD, Inc. Class A 8,223 122,687 QAD, Inc. Class B 2,342 29,509 * QLIK Technologies, Inc. 700 17,738 * QLogic Corp. 88,244 1,089,813 QUALCOMM, Inc. 1,946 135,189 * Qualstar Corp. 6,493 8,506 #* Quantum Corp. 51,697 64,104 #* QuickLogic Corp. 10,134 39,016 * Qumu Corp. 10,312 154,474 #* Rackspace Hosting, Inc. 600 30,738 * Radisys Corp. 29,188 88,148 * Rainmaker Systems, Inc. 3,113 1,557 #* Rambus, Inc. 64,753 565,941 * RealNetworks, Inc. 37,272 285,876 * Red Hat, Inc. 6,300 272,601 * Reis, Inc. 11,179 201,110 * Relm Wireless Corp. 7,900 20,777 #* Remark Media, Inc. 844 2,946 * Responsys, Inc. 18,021 294,463 # RF Industries, Ltd. 7,730 71,039 * RF Micro Devices, Inc. 250,701 1,316,180 Richardson Electronics, Ltd. 15,984 184,136 #* Riverbed Technology, Inc. 14,550 215,631 * Rofin-Sinar Technologies, Inc. 27,404 719,355 * Rogers Corp. 14,886 907,451 * Rosetta Stone, Inc. 23,564 357,702 * Rovi Corp. 24,996 418,933 #* Rubicon Technology, Inc. 18,870 162,282 #* Rudolph Technologies, Inc. 36,006 381,664 * Saba Software, Inc. 13,285 154,106 SanDisk Corp. 34,190 2,376,205 * Sanmina Corp. 93,098 1,355,507 * Sapient Corp. 26,378 417,036 * ScanSource, Inc. 28,724 1,104,725 # Science Applications International Corp. 7,589 267,512 * Scientific Learning Corp. 3,710 1,836 * Seachange International, Inc. 38,662 548,614 Seagate Technology P.L.C. 21,998 1,070,863 * Selectica, Inc. 628 4,258 * Semtech Corp. 41,469 1,290,101 #* ServiceSource International, Inc. 3,531 38,205 #* Sevcon, Inc. 1,971 9,362 * ShoreTel, Inc. 50,584 402,143 * Sigma Designs, Inc. 35,547 193,376 #* Silicon Graphics International Corp. 14,772 188,638 * Silicon Image, Inc. 80,653 423,428 * Silicon Laboratories, Inc. 20,030 805,607 * Skyworks Solutions, Inc. 22,976 592,321 * Smith Micro Software, Inc. 38,073 30,839 #* SMTC Corp. 4,872 9,500 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Information Technology -- (Continued) * SolarWinds, Inc. 12,382 $ 448,105 Solera Holdings, Inc. 6,600 371,052 * Sonus Networks, Inc. 276,853 830,559 #* Spansion, Inc. Class A 62,265 745,312 #* Spark Networks, Inc. 10,005 71,636 #* Speed Commerce, Inc. 27,494 100,903 * SS&C Technologies Holdings, Inc. 71,765 2,820,365 * Stamps.com, Inc. 12,830 582,995 * StarTek, Inc. 15,566 97,443 * Stratasys, Ltd. 14,377 1,627,908 #* SunEdison, Inc. 206,218 1,917,827 #* SunPower Corp. 136,646 4,125,343 * Super Micro Computer, Inc. 34,926 486,170 Supertex, Inc. 13,088 333,875 * support.com, Inc. 47,103 210,079 * Sykes Enterprises, Inc. 48,182 901,967 Symantec Corp. 22,610 514,151 * Symmetricom, Inc. 47,469 340,353 #* Synaptics, Inc. 17,683 822,260 * SYNNEX Corp. 42,692 2,617,020 * Synopsys, Inc. 31,373 1,143,546 # Syntel, Inc. 4,100 351,944 * Take-Two Interactive Software, Inc. 56,803 1,017,342 TE Connectivity, Ltd. 20,820 1,072,022 * Tech Data Corp. 51,682 2,690,565 * TeleCommunication Systems, Inc. Class A 58,380 133,106 * Telenav, Inc. 43,915 318,384 * TeleTech Holdings, Inc. 34,566 914,962 Tellabs, Inc. 383,621 936,035 * Teradata Corp. 2,900 127,803 #* Teradyne, Inc. 73,504 1,285,585 # Tessco Technologies, Inc. 10,869 385,089 Tessera Technologies, Inc. 58,211 1,107,173 * TheStreet, Inc. 29,582 69,518 #* TIBCO Software, Inc. 10,754 264,118 Total System Services, Inc. 13,567 404,704 Transact Technologies, Inc. 7,182 99,040 #* Trimble Navigation, Ltd. 14,440 412,551 * Trio Tech International 2,616 8,764 #* TriQuint Semiconductor, Inc. 183,190 1,452,697 * Trulia, Inc. 2,655 106,120 TSR, Inc. 722 2,448 * TTM Technologies, Inc. 87,884 768,985 * Tyler Technologies, Inc. 14,547 1,406,840 * Ultimate Software Group, Inc. 2,149 331,978 * Ultra Clean Holdings 24,068 224,073 * Ultratech, Inc. 21,900 521,001 #* Unisys Corp. 11,891 313,328 # United Online, Inc. 106,987 924,368 #* Unwired Planet, Inc. 71,539 115,893 * USA Technologies, Inc. 1,583 3,024 #* UTStarcom Holdings Corp. 13,432 37,610 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ------------ Information Technology -- (Continued) #* ValueClick, Inc. 48,025 $ 922,560 #* Veeco Instruments, Inc. 37,673 1,100,428 * VeriFone Systems, Inc. 25,658 581,410 * Verint Systems, Inc. 6,025 220,033 #* VeriSign, Inc. 7,900 428,812 #* ViaSat, Inc. 24,715 1,634,156 #* Viasystems Group, Inc. 17,945 269,175 * Vicon Industries, Inc. 1,600 4,720 * Video Display Corp. 6,495 23,512 * Virtusa Corp. 30,447 946,293 Visa, Inc. Class A 37,703 7,415,049 * Vishay Intertechnology, Inc. 169,836 2,083,888 * Vishay Precision Group, Inc. 17,886 293,330 #* VistaPrint NV 7,396 399,754 #* Vringo, Inc. 900 2,538 Wayside Technology Group, Inc. 4,672 61,203 #* Web.com Group, Inc. 29,853 804,538 #* WebMD Health Corp. 2,424 85,373 * Westell Technologies, Inc. Class A 54,239 194,718 Western Digital Corp. 122,881 8,556,204 * WEX, Inc. 15,860 1,480,531 Xerox Corp. 731,469 7,270,802 Xilinx, Inc. 17,283 784,994 * XO Group, Inc. 33,845 469,769 Xyratex, Ltd. 32,545 323,497 * Yahoo!, Inc. 90,899 2,993,304 * Zebra Technologies Corp. Class A 20,692 999,631 #* Zix Corp. 31,988 130,511 * Zygo Corp. 22,493 347,292 * Zynga, Inc. Class A 243,950 875,781 ------------ Total Information Technology 366,911,489 ------------ Materials -- (5.3%) A Schulman, Inc. 32,206 1,066,663 #* AEP Industries, Inc. 4,480 266,202 Air Products & Chemicals, Inc. 6,000 654,060 Airgas, Inc. 7,100 774,397 Albemarle Corp. 12,074 799,178 # Alcoa, Inc. 555,703 5,151,367 # Allegheny Technologies, Inc. 102,067 3,378,418 #* Allied Nevada Gold Corp. 2,500 10,200 #* AM Castle & Co. 25,873 370,243 AMCOL International Corp. 20,163 646,829 * American Biltrite, Inc. 22 8,913 #* American Pacific Corp. 6,493 295,561 American Vanguard Corp. 28,100 733,410 Aptargroup, Inc. 13,500 866,160 * Arabian American Development Co. 16,186 147,293 Ashland, Inc. 54,786 5,070,444 Avery Dennison Corp. 16,643 784,218 Axiall Corp. 33,004 1,283,525 # Balchem Corp. 8,962 513,164 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Materials -- (Continued) Ball Corp. 12,700 $ 620,903 Bemis Co., Inc. 49,227 1,964,157 # Cabot Corp. 61,093 2,847,545 * Calgon Carbon Corp. 37,204 742,220 # Carpenter Technology Corp. 14,069 834,714 Celanese Corp. Series A 6,391 357,960 #* Century Aluminum Co. 107,942 936,936 CF Industries Holdings, Inc. 2,563 552,583 Chase Corp. 8,818 266,833 * Chemtura Corp. 103,367 2,532,491 * Clearwater Paper Corp. 22,678 1,184,245 # Cliffs Natural Resources, Inc. 112,054 2,877,547 * Coeur d'Alene Mines Corp. 100,299 1,224,651 Commercial Metals Co. 134,148 2,462,957 # Compass Minerals International, Inc. 3,600 268,092 * Contango ORE, Inc. 1,008 9,274 * Continental Materials Corp. 73 1,277 #* Core Molding Technologies, Inc. 8,483 91,616 * Crown Holdings, Inc. 6,500 283,400 Cytec Industries, Inc. 44,664 3,711,132 Deltic Timber Corp. 6,776 432,851 Domtar Corp. 36,566 3,097,506 Dow Chemical Co. (The) 88,875 3,507,896 Eagle Materials, Inc. 35,734 2,680,407 Eastman Chemical Co. 14,287 1,125,673 Ecolab, Inc. 9,795 1,038,270 EI du Pont de Nemours & Co. 1,400 85,680 * Ferro Corp. 93,371 1,197,950 #* Flotek Industries, Inc. 3,249 69,464 FMC Corp. 10,200 742,152 Freeport-McMoRan Copper & Gold, Inc. 75,802 2,786,481 # Friedman Industries, Inc. 10,403 103,198 FutureFuel Corp. 37,704 656,427 #* General Moly, Inc. 85,417 140,084 Globe Specialty Metals, Inc. 12,895 226,178 #* Golden Minerals Co. 12,619 9,717 * Graphic Packaging Holding Co. 340,196 2,857,646 Greif, Inc. Class A 12,716 680,179 Greif, Inc. Class B 8,346 474,470 Hawkins, Inc. 10,342 372,415 Haynes International, Inc. 12,644 681,512 HB Fuller Co. 44,500 2,130,215 * Headwaters, Inc. 58,852 513,778 # Hecla Mining Co. 310,378 968,379 #* Horsehead Holding Corp. 50,815 737,326 Huntsman Corp. 114,685 2,662,986 Innophos Holdings, Inc. 20,019 1,003,352 Innospec, Inc. 18,013 829,679 International Flavors & Fragrances, Inc. 1,827 151,001 International Paper Co. 67,274 3,001,093 # Intrepid Potash, Inc. 27,179 403,608 # Kaiser Aluminum Corp. 21,204 1,430,210 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Materials -- (Continued) KapStone Paper and Packaging Corp. 48,479 $2,518,969 KMG Chemicals, Inc. 12,211 243,976 Koppers Holdings, Inc. 5,119 227,847 * Kraton Performance Polymers, Inc. 31,859 677,641 # Kronos Worldwide, Inc. 23,380 362,624 * Landec Corp. 29,248 342,494 * Louisiana-Pacific Corp. 148,940 2,533,469 * LSB Industries, Inc. 18,179 667,533 LyondellBasell Industries NV Class A 10,566 788,224 # Martin Marietta Materials, Inc. 5,997 588,246 Materion Corp. 23,238 692,725 #* McEwen Mining, Inc. 189,521 405,575 MeadWestvaco Corp. 99,011 3,450,533 * Mercer International, Inc. 54,437 435,496 Minerals Technologies, Inc. 34,080 1,929,950 #* Mines Management, Inc. 9,985 5,991 Mosaic Co. (The) 21,981 1,007,829 Myers Industries, Inc. 37,755 672,794 Neenah Paper, Inc. 16,629 684,117 # NewMarket Corp. 1,500 467,040 Newmont Mining Corp. 15,800 430,708 # Noranda Aluminum Holding Corp. 30,896 84,037 * Northern Technologies International Corp. 3,755 63,872 # Nucor Corp. 23,318 1,207,173 # Olin Corp. 79,988 1,800,530 Olympic Steel, Inc. 12,310 336,925 #* OM Group, Inc. 36,502 1,241,068 * OMNOVA Solutions, Inc. 45,019 391,665 * Owens-Illinois, Inc. 23,179 736,860 Packaging Corp. of America 21,228 1,322,080 * Penford Corp. 11,940 162,384 PH Glatfelter Co. 47,126 1,234,701 PolyOne Corp. 78,982 2,393,155 PPG Industries, Inc. 3,826 698,551 Quaker Chemical Corp. 13,900 1,055,149 Reliance Steel & Aluminum Co. 70,931 5,198,533 * Resolute Forest Products, Inc. 18,239 291,642 Rock Tenn Co. Class A 38,374 4,106,402 Rockwood Holdings, Inc. 16,722 1,057,666 # Royal Gold, Inc. 11,268 541,315 RPM International, Inc. 30,156 1,167,640 #* RTI International Metals, Inc. 33,542 1,137,074 # Schnitzer Steel Industries, Inc. Class A 28,790 836,062 Schweitzer-Mauduit International, Inc. 31,776 1,966,299 Scotts Miracle-Gro Co. (The) Class A 5,700 334,704 Sealed Air Corp. 172,201 5,197,026 #* Senomyx, Inc. 18,977 70,215 Sensient Technologies Corp. 48,969 2,552,754 Sherwin-Williams Co. (The) 4,900 921,200 Sigma-Aldrich Corp. 6,719 580,723 Silgan Holdings, Inc. 8,035 362,137 #* Silver Bull Resources, Inc. 3,700 1,313 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ------------ Materials -- (Continued) * Solitario Exploration & Royalty Corp. 1,300 $ 1,157 Sonoco Products Co. 13,000 528,320 Steel Dynamics, Inc. 215,289 3,868,743 Stepan Co. 14,000 824,180 #* Stillwater Mining Co. 135,749 1,481,022 * SunCoke Energy, Inc. 74,371 1,487,420 Synalloy Corp. 8,022 129,074 #* Texas Industries, Inc. 25,441 1,366,182 Tredegar Corp. 22,267 650,642 Tronox, Ltd. Class A 5,531 127,711 * United States Lime & Minerals, Inc. 5,495 305,302 # United States Steel Corp. 141,607 3,524,598 #* Universal Stainless & Alloy Products, Inc. 7,514 242,852 # Valhi, Inc. 24,600 451,902 Valspar Corp. (The) 25,504 1,784,515 #* Verso Paper Corp. 1,365 976 Vulcan Materials Co. 75,124 4,022,890 # Walter Energy, Inc. 61,308 974,184 # Wausau Paper Corp. 55,527 649,666 Westlake Chemical Corp. 46,688 5,015,225 Worthington Industries, Inc. 59,393 2,407,792 * WR Grace & Co. 7,182 658,302 # Zep, Inc. 21,570 429,027 * Zoltek Cos., Inc. 38,977 650,916 ------------ Total Materials 173,155,795 ------------ Other -- (0.0%) (d)* Brooklyn Federal Bancorp, Inc. Escrow Shares 6,039 -- (d)* FRD Acquisition Co Escrow Shares 14,091 -- (d)* Gerber Scientific, Inc. Escrow Shares 24,204 -- (d)* Price Communications Liquidation Trust 8,600 -- (d)* Softbrands, Inc. Escrow Shares 5,800 -- ------------ Total Other -- ------------ Telecommunication Services -- (1.7%) # Alteva 5,727 43,812 AT&T, Inc. 570,322 20,645,656 Atlantic Tele-Network, Inc. 15,302 848,037 #* Boingo Wireless, Inc. 1,855 12,577 * Cbeyond, Inc. 31,959 205,816 # CenturyLink, Inc. 95,717 3,240,978 * Cincinnati Bell, Inc. 48,400 138,424 # Consolidated Communications Holdings, Inc. 30,343 565,290 * Crown Castle International Corp. 9,445 718,009 # Frontier Communications Corp. 773,163 3,409,649 * General Communication, Inc. Class A 47,166 448,549 #* Hawaiian Telcom Holdco, Inc. 2,120 56,350 HickoryTech Corp. 12,468 166,822 IDT Corp. Class B 19,006 416,041 Inteliquent, Inc. 35,628 457,820 #* Iridium Communications, Inc. 78,908 475,815 * Leap Wireless International, Inc. 39,583 637,286 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Telecommunication Services -- (Continued) #* Level 3 Communications, Inc. 11,404 $ 348,392 Lumos Networks Corp. 17,987 395,894 #* NII Holdings, Inc. 10,211 35,126 # NTELOS Holdings Corp. 2,810 53,502 * ORBCOMM, Inc. 49,673 299,528 * Premiere Global Services, Inc. 55,230 497,622 PTGi Holding, Inc. 3,645 12,830 * SBA Communications Corp. Class A 3,000 262,410 # Shenandoah Telecommunications Co. 25,746 713,937 #* Sprint Corp. 172,026 1,157,735 * Straight Path Communications, Inc. Class B 9,503 51,886 T-Mobile US, Inc. 37,030 1,026,842 Telephone & Data Systems, Inc. 98,813 3,080,989 * tw telecom, Inc. 6,182 194,857 # United States Cellular Corp. 27,886 1,349,682 USA Mobility, Inc. 23,864 356,051 Verizon Communications, Inc. 219,736 11,098,865 * Vonage Holdings Corp. 230,504 859,780 # Windstream Holdings, Inc. 163,989 1,402,106 ----------- Total Telecommunication Services 55,684,965 ----------- Utilities -- (1.1%) AES Corp. 172,199 2,426,284 AGL Resources, Inc. 9,505 454,909 ALLETE, Inc. 10,955 553,556 Alliant Energy Corp. 53 2,768 American States Water Co. 10,468 298,129 # Aqua America, Inc. 15,907 400,538 Artesian Resources Corp. Class A 2,239 51,273 Atmos Energy Corp. 8,582 379,925 Avista Corp. 16,380 455,200 Black Hills Corp. 12,064 611,886 #* Cadiz, Inc. 2,750 14,163 # California Water Service Group 13,678 298,180 * Calpine Corp. 62,871 1,268,108 Chesapeake Utilities Corp. 3,436 186,953 Cleco Corp. 6,815 315,807 CMS Energy Corp. 17,300 475,058 Connecticut Water Service, Inc. 3,934 126,085 # Consolidated Water Co., Ltd. 13,018 195,791 # Delta Natural Gas Co., Inc. 1,858 41,471 * Dynegy, Inc. 8,448 164,145 El Paso Electric Co. 10,875 382,474 Empire District Electric Co. (The) 11,620 261,334 # Gas Natural, Inc. 1,949 19,432 #* Genie Energy, Ltd. Class B 22,104 228,334 Great Plains Energy, Inc. 13,107 307,228 # Hawaiian Electric Industries, Inc. 8,438 224,198 IDACORP, Inc. 8,295 428,022 Integrys Energy Group, Inc. 7,049 413,635 # ITC Holdings Corp. 4,668 469,554 Laclede Group, Inc. (The) 8,461 398,259 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ------- -------------- Utilities -- (Continued) MDU Resources Group, Inc. 6,672 $ 198,692 MGE Energy, Inc. 6,319 355,823 Middlesex Water Co. 7,850 162,730 National Fuel Gas Co. 2,800 200,340 New Jersey Resources Corp. 11,097 510,795 Northeast Utilities 15,733 674,788 # Northwest Natural Gas Co. 6,831 296,670 NorthWestern Corp. 10,200 467,568 NRG Energy, Inc. 195,195 5,568,913 NV Energy, Inc. 21,887 519,597 OGE Energy Corp. 10,600 391,140 ONEOK, Inc. 2,491 140,741 # Ormat Technologies, Inc. 37,313 972,750 # Otter Tail Corp. 9,700 289,351 Pepco Holdings, Inc. 1,371 26,433 Piedmont Natural Gas Co., Inc. 8,312 283,772 Pinnacle West Capital Corp. 7,400 414,622 PNM Resources, Inc. 21,795 521,336 Portland General Electric Co. 15,058 432,165 Public Service Enterprise Group, Inc. 40,174 1,345,829 Questar Corp. 39,630 937,646 RGC Resources, Inc. 400 7,448 # SJW Corp. 18,956 535,128 # South Jersey Industries, Inc. 8,799 523,980 Southwest Gas Corp. 9,869 535,492 #* Synthesis Energy Systems, Inc. 44,676 29,576 # TECO Energy, Inc. 20,582 353,393 UGI Corp. 110,933 4,589,298 # UIL Holdings Corp. 14,372 553,609 Unitil Corp. 5,773 174,460 UNS Energy Corp. 11,471 567,585 Vectren Corp. 7,293 254,672 # Westar Energy, Inc. 11,100 350,871 WGL Holdings, Inc. 7,585 341,401 York Water Co. 4,020 83,254 -------------- Total Utilities 35,464,567 -------------- TOTAL COMMON STOCKS 2,889,151,578 -------------- RIGHTS/WARRANTS -- (0.0%) (d)#* Caesars Entertainment Corp. Rights 11/02/13 27,226 62,347 (d)* Capital Bank Corp. Contingent Value Rights 2,758 -- (d)* CVR Energy, Inc. Contingent Value Rights 78,591 -- (d)* LGL Group Inc (The) Warrants 08/06/18 6,500 650 (d)#* Magnum Hunter Resources Corp. Warrants 04/15/16 15,503 -- (d)#* PhotoMedex, Inc. Contingent Value Warrants 12/13/14 339 -- (d)* Tejon Ranch Co. Warrants 8/31/16 2,579 13,798 (d)* U.S. Concrete, Inc. Warrants Class A 08/31/17 567 2,268 U.S. VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE+ ---------- -------------- (d)* U.S. Concrete, Inc. Warrants Class B 08/31/17 567 $ 2,013 -------------- TOTAL RIGHTS/WARRANTS 81,076 -------------- TEMPORARY CASH INVESTMENTS -- (0.2%) State Street Institutional Liquid Reserves, 0.073% 6,584,203 6,584,203 -------------- SHARES/ FACE AMOUNT (000) ---------- SECURITIES LENDING COLLATERAL -- (11.7%) (S)@ DFA Short Term Investment Fund 33,037,634 382,245,421 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $2,350,309,267) $3,278,062,278 ============== U.S. SMALL CAP PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 SHARES VALUE+ ------- ----------- COMMON STOCKS -- (80.9%) Consumer Discretionary -- (15.2%) * 1-800-Flowers.com, Inc. Class A 183,902 $ 998,588 # Aaron's, Inc. 371,614 10,542,689 #* Aeropostale, Inc. 446,342 4,146,517 * AFC Enterprises, Inc. 149,431 6,661,634 AH Belo Corp. Class A 72,316 581,421 * ALCO Stores, Inc. 5,784 63,740 Ambassadors Group, Inc. 59,882 220,965 Amcon Distributing Co. 2,169 174,605 #* America's Car-Mart, Inc. 43,327 1,981,777 #* American Apparel, Inc. 130,700 175,138 #* American Axle & Manufacturing Holdings, Inc. 153,125 2,849,656 #* American Public Education, Inc. 103,347 4,136,980 * ANN, Inc. 333,258 11,784,003 #* Apollo Group, Inc. Class A 291,949 7,792,119 # Arctic Cat, Inc. 80,872 4,237,693 # Ark Restaurants Corp. 17,030 361,036 * Asbury Automotive Group, Inc. 188,014 9,034,073 #* Ascent Capital Group, Inc. Class A 61,299 5,174,862 * Ballantyne Strong, Inc. 61,400 306,386 #* Bally Technologies, Inc. 235,969 17,258,773 #* Barnes & Noble, Inc. 325,477 4,598,990 # Bassett Furniture Industries, Inc. 149,390 2,091,460 # Beasley Broadcasting Group, Inc. Class A 68,353 592,621 #* Beazer Homes USA, Inc. 58,798 1,068,360 # bebe stores, Inc. 450,615 2,717,208 # Belo Corp. Class A 525,235 7,211,477 Big 5 Sporting Goods Corp. 143,194 2,707,799 * Big Lots, Inc. 360,315 13,101,053 * Biglari Holdings, Inc. 7,986 3,482,056 #* BJ's Restaurants, Inc. 171,556 4,642,305 #* Black Diamond, Inc. 30,200 450,282 #* Blue Nile, Inc. 58,303 2,394,504 # Blyth, Inc. 86,532 1,195,007 Bob Evans Farms, Inc. 173,628 9,912,423 #* Body Central Corp. 66,031 369,774 # Bon-Ton Stores, Inc. (The) 121,759 1,394,141 #* Books-A-Million, Inc. 45,236 113,542 # Bowl America, Inc. Class A 10,705 153,884 #* Boyd Gaming Corp. 216,777 2,289,165 * Bravo Brio Restaurant Group, Inc. 67,826 1,012,642 #* Bridgepoint Education, Inc. 278,565 5,459,874 # Brinker International, Inc. 322,412 14,321,541 #* Brookfield Residential Properties, Inc. 15,386 339,723 Brown Shoe Co., Inc. 262,298 5,885,967 Brunswick Corp. 137,648 6,212,054 # Buckle, Inc. (The) 256,014 12,529,325 #* Buffalo Wild Wings, Inc. 118,248 16,859,800 * Build-A-Bear Workshop, Inc. 68,675 539,786 #* Cabela's, Inc. 277,885 16,484,138 #* Cache, Inc. 60,569 365,231 # Callaway Golf Co. 420,670 3,546,248 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Consumer Discretionary -- (Continued) * Cambium Learning Group, Inc. 118,479 $ 172,979 Canterbury Park Holding Corp. 12,913 146,046 #* Capella Education Co. 71,313 4,344,388 #* Career Education Corp. 249,554 1,367,556 * Carmike Cinemas, Inc. 125,793 2,879,402 Carriage Services, Inc. 141,558 2,843,900 #* Carrols Restaurant Group, Inc. 139,537 809,315 # Cato Corp. (The) Class A 143,635 4,304,741 #* Cavco Industries, Inc. 32,674 1,913,716 CEC Entertainment, Inc. 103,045 4,776,136 #* Central European Media Enterprises, Ltd. Class A 35,049 107,600 #* Charles & Colvard, Ltd. 74,601 396,131 # Cheesecake Factory, Inc. (The) 366,132 17,299,737 Cherokee, Inc. 36,919 506,529 * Children's Place Retail Stores, Inc. (The) 148,988 8,133,255 # Choice Hotels International, Inc. 60,585 2,822,655 * Christopher & Banks Corp. 126,860 731,982 Churchill Downs, Inc. 87,795 7,542,468 * Citi Trends, Inc. 61,382 901,088 * Coast Distribution System (The) 43,930 151,339 * Cobra Electronics Corp. 27,771 80,814 #* Coldwater Creek, Inc. 53,628 53,628 # Collectors Universe 56,999 949,033 Columbia Sportswear Co. 153,870 10,289,287 #* Comstock Holding Cos., Inc. 3,000 6,150 #* Conn's, Inc. 212,100 12,819,324 # Cooper Tire & Rubber Co. 328,229 8,537,236 Core-Mark Holding Co., Inc. 57,803 4,088,406 #* Corinthian Colleges, Inc. 258,182 552,509 # Cracker Barrel Old Country Store, Inc. 141,046 15,496,724 * Crocs, Inc. 524,736 6,391,284 * Crown Media Holdings, Inc. Class A 52,217 173,360 CSS Industries, Inc. 26,600 688,674 # CST Brands, Inc. 37,010 1,193,202 CTC Media, Inc. 594,477 7,514,189 Culp, Inc. 42,849 829,128 * Cumulus Media, Inc. Class A 801,871 4,795,189 #* Daily Journal Corp. 200 29,588 # Dana Holding Corp. 440,945 8,642,522 #* Deckers Outdoor Corp. 170,484 11,734,414 #* dELiA*s, Inc. 26,901 37,123 * Delta Apparel, Inc. 15,317 289,491 Destination Maternity Corp. 70,310 2,196,484 * Destination XL Group, Inc. 259,456 1,803,219 # DeVry, Inc. 120,387 4,321,893 * DGSE Cos., Inc. 5,479 13,698 #* Digital Generation, Inc. 126,908 1,605,386 # Dillard's, Inc. Class A 85,922 7,043,886 DineEquity, Inc. 108,349 8,892,202 * Dixie Group, Inc. (The) 107,711 1,357,159 # Domino's Pizza, Inc. 219,560 14,723,694 Dorman Products, Inc. 168,987 8,214,458 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Consumer Discretionary -- (Continued) Dover Downs Gaming & Entertainment, Inc. 44,469 $ 67,148 Dover Motorsports, Inc. 56,312 132,896 #* DreamWorks Animation SKG, Inc. Class A 314,381 10,764,405 # Drew Industries, Inc. 134,906 6,780,376 EDCI Holdings, Inc. 19,757 12,941 Educational Development Corp. 15,090 43,157 Einstein Noah Restaurant Group, Inc. 76,665 1,367,704 * ELXSI Corp. 1,800 17,640 * Emerson Radio Corp. 197,300 376,843 * Emmis Communications Corp. Class A 65,562 163,249 #* Empire Resorts, Inc. 28,662 175,985 #* Entercom Communications Corp. Class A 106,611 934,978 #* Entertainment Gaming Asia, Inc. 4,182 6,440 # Entravision Communications Corp. Class A 377,740 2,545,968 # Escalade, Inc. 38,965 343,671 # Ethan Allen Interiors, Inc. 164,820 4,390,805 * Ever-Glory International Group, Inc. 1,580 6,794 #* EW Scripps Co. Class A 268,119 5,314,119 * Express, Inc. 544,739 12,643,392 #* FAB Universal Corp. 7,689 48,210 #* Famous Dave's Of America, Inc. 29,128 525,760 #* Federal-Mogul Corp. 197,746 4,051,816 * Fiesta Restaurant Group, Inc. 146,022 6,189,873 * Fifth & Pacific Cos., Inc. 201,029 5,325,258 Finish Line, Inc. (The) Class A 321,106 8,040,494 * Flanigan's Enterprises, Inc. 5,380 59,610 # Flexsteel Industries, Inc. 23,660 649,704 # Fred's, Inc. Class A 190,680 3,089,016 # Frisch's Restaurants, Inc. 20,810 500,897 * Fuel Systems Solutions, Inc. 79,811 1,433,406 #* Full House Resorts, Inc. 61,041 167,863 #* G-III Apparel Group, Ltd. 127,217 7,215,748 * Gaiam, Inc. Class A 57,070 357,829 # Gaming Partners International Corp. 8,434 70,002 * Geeknet, Inc. 12,204 234,073 #* Genesco, Inc. 149,349 10,172,160 #* Gentherm, Inc. 193,367 4,515,119 Gordmans Stores, Inc. 40,554 401,485 #* Grand Canyon Education, Inc. 300,299 14,195,134 #* Gray Television, Inc. 312,201 2,638,098 * Gray Television, Inc. Class A 25,939 200,249 # Group 1 Automotive, Inc. 162,046 10,370,944 # Guess?, Inc. 332,623 10,394,469 #* Hampshire Group, Ltd. 8,000 30,760 * Harris Interactive, Inc. 907,213 1,723,705 Harte-Hanks, Inc. 288,683 2,300,804 Hastings Entertainment, Inc. 42,003 86,526 # Haverty Furniture Cos., Inc. 115,382 3,208,773 # Haverty Furniture Cos., Inc. Class A 3,785 105,980 * Helen of Troy, Ltd. 168,007 7,849,287 * Here Media, Inc.(427105101) 22,918 229 * Here Media, Inc.(427105200) 22,918 229 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Consumer Discretionary -- (Continued) #* hhgregg, Inc. 155,532 $ 2,412,301 #* Hibbett Sports, Inc. 158,121 9,223,198 Hillenbrand, Inc. 359,391 10,142,014 #* HomeAway, Inc. 102,803 3,048,109 # Hooker Furniture Corp. 42,269 667,850 HSN, Inc. 164,521 8,620,900 #* Iconix Brand Group, Inc. 343,594 12,400,307 * Insignia Systems, Inc. 15,351 37,149 International Speedway Corp. Class A 139,864 4,574,951 # Interval Leisure Group, Inc. 302,702 7,346,578 #* iRobot Corp. 184,514 6,249,489 * Isle of Capri Casinos, Inc. 77,559 629,003 #* ITT Educational Services, Inc. 105,162 4,219,099 * Jack in the Box, Inc. 281,474 11,450,362 * Jaclyn, Inc. 2,235 12,125 # JAKKS Pacific, Inc. 62,792 404,380 # John Wiley & Sons, Inc. Class A 13,586 683,240 Johnson Outdoors, Inc. Class A 25,495 699,328 # Jones Group, Inc. (The) 456,569 7,095,082 #* Jos A Bank Clothiers, Inc. 142,528 6,838,493 * Journal Communications, Inc. Class A 282,444 2,358,407 * K12, Inc. 150,365 2,748,672 # KB Home 549,208 9,320,060 * Kid Brands, Inc. 195,908 273,292 #* Kirkland's, Inc. 110,756 1,965,919 * Kona Grill, Inc. 41,704 572,596 # Koss Corp. 25,262 126,310 #* Krispy Kreme Doughnuts, Inc. 432,918 10,502,591 La-Z-Boy, Inc. 317,521 7,328,385 #* Lakeland Industries, Inc. 21,528 116,897 * Lazare Kaplan International, Inc. 9,600 16,224 #* LeapFrog Enterprises, Inc. 267,867 2,292,942 #* Learning Tree International, Inc. 40,081 115,032 * Libbey, Inc. 81,396 1,737,805 * Liberty Media Corp. Class B 859 129,511 #* Life Time Fitness, Inc. 280,314 12,731,862 # Lifetime Brands, Inc. 53,058 830,888 * LIN Media LLC Class A 184,095 4,523,214 # Lincoln Educational Services Corp. 75,737 362,023 #* Lions Gate Entertainment Corp. 191,500 6,622,070 Lithia Motors, Inc. Class A 153,695 9,659,731 * Live Nation Entertainment, Inc. 568,208 11,045,964 Loral Space & Communications, Inc. 114,552 8,175,576 * Luby's, Inc. 245,262 1,878,707 #* Lumber Liquidators Holdings, Inc. 150,634 17,200,896 #* M/I Homes, Inc. 110,143 2,254,627 Mac-Gray Corp. 52,897 1,115,069 * Madison Square Garden Co. (The) Class A 74,557 4,512,190 Marcus Corp. 86,567 1,243,102 Marine Products Corp. 125,265 1,173,733 * MarineMax, Inc. 121,892 1,795,469 * Marriott Vacations Worldwide Corp. 62,961 3,153,087 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Consumer Discretionary -- (Continued) * Martha Stewart Living Omnimedia Class A 140,476 $ 359,619 Matthews International Corp. Class A 144,992 5,886,675 #* McClatchy Co. (The) Class A 218,726 616,807 McRae Industries, Inc. Class A 2,500 59,800 # MDC Holdings, Inc. 263,898 7,703,183 #* Media General, Inc. Class A 100,663 1,467,667 Men's Wearhouse, Inc. (The) 309,267 13,081,994 # Meredith Corp. 171,081 8,776,455 #* Meritage Homes Corp. 223,923 10,163,865 * Modine Manufacturing Co. 261,048 3,477,159 * Monarch Casino & Resort, Inc. 74,602 1,261,520 # Monro Muffler Brake, Inc. 192,658 8,862,268 * Motorcar Parts of America, Inc. 71,176 973,688 # Movado Group, Inc. 108,351 5,052,407 * MTR Gaming Group, Inc. 59,127 307,460 * Multimedia Games Holding Co., Inc. 97,834 3,180,583 NACCO Industries, Inc. Class A 31,480 1,793,416 * Nathan's Famous, Inc. 20,488 1,051,444 National CineMedia, Inc. 315,407 5,525,931 #* Nautilus, Inc. 217,722 1,733,067 * New York & Co., Inc. 380,682 1,949,092 # New York Times Co. (The) Class A 951,322 13,156,783 # Nexstar Broadcasting Group, Inc. Class A 173,475 7,700,555 * Nobility Homes, Inc. 13,083 121,018 # Nutrisystem, Inc. 136,386 2,564,057 #* Office Depot, Inc. 1,793,386 10,025,028 OfficeMax, Inc. 377,376 5,653,092 * Orbitz Worldwide, Inc. 337,203 3,115,756 * Orient-Express Hotels, Ltd. Class A 445,956 5,935,674 #* Outerwall, Inc. 159,211 10,345,531 * Overstock.com, Inc. 93,631 2,193,774 # Oxford Industries, Inc. 96,828 6,949,346 * P&F Industries, Inc. Class A 10,000 77,200 #* Pacific Sunwear of California, Inc. 226,616 609,597 Papa John's International, Inc. 131,647 9,961,728 Penske Automotive Group, Inc. 337,541 13,373,374 #* Pep Boys-Manny Moe & Jack (The) 286,833 3,711,619 * Perfumania Holdings, Inc. 15,984 74,326 # Perry Ellis International, Inc. 75,860 1,442,099 # PetMed Express, Inc. 98,009 1,454,454 # Pier 1 Imports, Inc. 700,408 14,624,519 #* Pinnacle Entertainment, Inc. 220,582 5,161,619 * Point.360 4,284 3,316 # Pool Corp. 275,108 14,960,373 * QEP Co., Inc. 9,614 189,877 #* Quantum Fuel Systems Technologies Worldwide, Inc. 1,524 7,269 #* Quiksilver, Inc. 938,301 7,806,664 #* Radio One, Inc. Class D 1,003,142 3,009,426 #* RadioShack Corp. 398,598 1,120,060 #* Reading International, Inc. Class A 22,403 148,308 * Reading International, Inc. Class B 2,710 22,723 * Red Lion Hotels Corp. 71,498 430,418 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Consumer Discretionary -- (Continued) * Red Robin Gourmet Burgers, Inc. 89,439 $ 6,813,463 # Regal Entertainment Group Class A 578,754 11,002,114 # Regis Corp. 306,495 4,444,178 # Rent-A-Center, Inc. 334,396 11,449,719 #* Rentrak Corp. 27,336 1,024,827 RG Barry Corp. 43,359 827,290 #* Rick's Cabaret International, Inc. 47,762 539,233 Rocky Brands, Inc. 94,670 1,435,197 * Ruby Tuesday, Inc. 336,380 1,994,733 Ruth's Hospitality Group, Inc. 225,772 2,752,161 # Ryland Group, Inc. (The) 300,125 12,065,025 # Saga Communications, Inc. Class A 18,609 885,974 * Saks, Inc. 741,570 11,857,704 Salem Communications Corp. Class A 132,841 1,097,267 # Scholastic Corp. 107,233 3,076,515 * Scientific Games Corp. Class A 501,998 9,176,523 #* Select Comfort Corp. 406,414 7,445,504 * SHFL Entertainment, Inc. 309,222 7,167,766 Shiloh Industries, Inc. 208,939 3,430,778 Shoe Carnival, Inc. 109,820 2,854,222 #* Shutterfly, Inc. 257,016 12,629,766 # Sinclair Broadcast Group, Inc. Class A 447,331 14,341,432 #* Skechers U.S.A., Inc. Class A 276,741 8,064,233 #* Skullcandy, Inc. 46,588 292,573 #* Skyline Corp. 45,820 200,233 #* Smith & Wesson Holding Corp. 5,755 62,039 # Sonic Automotive, Inc. Class A 236,836 5,276,706 #* Sonic Corp. 351,737 6,788,524 # Sotheby's 66,714 3,462,457 * Spanish Broadcasting System, Inc. Class A 43,707 173,080 Spartan Motors, Inc. 128,665 873,635 * Spectrum Group International, Inc. 85,617 152,398 Speedway Motorsports, Inc. 122,233 2,231,975 * Sport Chalet, Inc. Class A 28,319 32,567 * Sport Chalet, Inc. Class B 4,108 5,320 * Sports Club, Inc. 19,000 43,700 # Stage Stores, Inc. 179,753 3,711,899 # Standard Motor Products, Inc. 149,592 5,409,247 * Stanley Furniture Co., Inc. 35,155 136,753 * Starz - Liberty Capital Class A 8,811 265,652 * Starz - Liberty Capital Class B 1,444 43,638 # Stein Mart, Inc. 175,861 2,597,467 * Steiner Leisure, Ltd. 70,087 3,926,274 * Steven Madden, Ltd. 421,193 15,449,359 Stewart Enterprises, Inc. Class A 313,591 4,142,537 * Stoneridge, Inc. 156,301 1,994,401 Strattec Security Corp. 11,681 473,314 # Strayer Education, Inc. 15,683 619,949 # Sturm Ruger & Co., Inc. 96,306 6,299,375 Superior Industries International, Inc. 132,033 2,475,619 # Superior Uniform Group, Inc. 10,485 158,324 Systemax, Inc. 125,922 1,196,259 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- -------------- Consumer Discretionary -- (Continued) #* Tandy Leather Factory, Inc. 41,183 $ 341,819 #* Tempur-Pedic International, Inc. 268,680 10,303,878 * Tenneco, Inc. 308,939 16,395,393 # Texas Roadhouse, Inc. 453,103 12,424,084 # Thor Industries, Inc. 274,686 15,934,535 #* Tile Shop Holdings, Inc. 22,410 500,415 * Tower International, Inc. 19,829 420,771 # Town Sports International Holdings, Inc. 112,465 1,453,048 # Trans World Entertainment Corp. 452,232 1,958,165 * Trinity Place Holdings, Inc. 34,797 175,725 #* Tuesday Morning Corp. 159,005 2,249,921 #* Unifi, Inc. 122,873 2,996,872 * Universal Electronics, Inc. 74,132 2,884,476 # Universal Technical Institute, Inc. 94,315 1,253,446 #* UQM Technologies, Inc. 119,010 184,466 #* US Auto Parts Network, Inc. 97,364 173,308 # Vail Resorts, Inc. 207,415 14,612,387 # Valassis Communications, Inc. 189,251 5,177,907 # Value Line, Inc. 26,515 247,385 #* Valuevision Media, Inc. Class A 282,449 1,508,278 #* Vera Bradley, Inc. 68,169 1,509,943 #* Vitacost.com, Inc. 18,064 142,886 * Vitamin Shoppe, Inc. 107,440 5,040,010 #* VOXX International Corp. 137,551 2,133,416 Walking Co. Holdings, Inc. (The) 214 1,926 #* Wells-Gardner Electronics Corp. 33,182 55,746 # Wendy's Co. (The) 834,136 7,248,642 * West Marine, Inc. 139,909 1,708,289 #* Wet Seal, Inc. (The) Class A 557,417 1,845,050 # Weyco Group, Inc. 50,427 1,448,768 # Winmark Corp. 25,038 1,833,032 #* Winnebago Industries, Inc. 150,216 4,455,407 # Wolverine World Wide, Inc. 240,448 13,883,468 # World Wrestling Entertainment, Inc. Class A 136,369 1,765,979 #* Xanadoo Co. Class A 170 34,000 #* Zagg, Inc. 87,927 416,774 * Zale Corp. 178,852 2,795,457 #* Zumiez, Inc. 194,574 5,767,173 -------------- Total Consumer Discretionary 1,394,305,008 -------------- Consumer Staples -- (3.6%) # Alico, Inc. 27,106 1,083,156 * Alliance One International, Inc. 373,610 1,109,622 # Andersons, Inc. (The) 115,906 8,597,907 # Arden Group, Inc. Class A 5,944 772,720 # B&G Foods, Inc. 319,346 10,809,862 #* Boston Beer Co., Inc. (The) Class A 2,323 533,338 #* Boulder Brands, Inc. 341,242 5,592,956 Bridgford Foods Corp. 17,169 173,235 # Cal-Maine Foods, Inc. 107,247 5,440,640 # Calavo Growers, Inc. 70,794 2,101,874 # Casey's General Stores, Inc. 217,078 15,820,645 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Consumer Staples -- (Continued) CCA Industries, Inc. 16,064 $ 49,638 #* Central Garden and Pet Co. 66,566 505,236 * Central Garden and Pet Co. Class A 165,959 1,221,458 * Chefs' Warehouse, Inc. (The) 9,983 239,193 #* Chiquita Brands International, Inc. 255,562 2,645,067 # Coca-Cola Bottling Co. Consolidated 33,460 2,118,687 # Coffee Holding Co., Inc. 11,600 61,944 * Craft Brew Alliance, Inc. 72,431 1,174,831 #* Darling International, Inc. 756,402 17,601,474 * Dean Foods Co. 600,523 11,710,198 #* Diamond Foods, Inc. 79,218 1,933,711 #* Dole Food Co., Inc. 228,637 3,098,031 #* Elizabeth Arden, Inc. 141,463 5,119,546 * Farmer Bros Co. 51,202 924,708 # Fresh Del Monte Produce, Inc. 313,584 8,338,198 #* Fresh Market, Inc. (The) 168,917 8,599,564 * Glacier Water Services, Inc. 3,200 66,000 Golden Enterprises, Inc. 32,785 137,369 Griffin Land & Nurseries, Inc. 20,710 683,430 #* Hain Celestial Group, Inc. (The) 73,508 6,118,071 #* Harbinger Group, Inc. 29,985 326,537 # Harris Teeter Supermarkets, Inc. 274,702 13,548,303 Ingles Markets, Inc. Class A 64,762 1,671,507 # Inter Parfums, Inc. 177,744 6,249,479 #* Inventure Foods, Inc. 8,634 97,219 # J&J Snack Foods Corp. 97,645 8,355,483 John B Sanfilippo & Son, Inc. 61,007 1,499,552 # Lancaster Colony Corp. 139,976 11,616,608 # Lifeway Foods, Inc. 50,414 737,557 # Limoneira Co. 2,592 68,273 * Mannatech, Inc. 5,854 138,096 #* Medifast, Inc. 95,049 2,215,592 MGP Ingredients, Inc. 63,782 337,407 Nash Finch Co. 46,007 1,290,956 National Beverage Corp. 139,362 2,551,718 #* Natural Alternatives International, Inc. 20,426 124,803 # Nature's Sunshine Products, Inc. 33,684 636,291 Nutraceutical International Corp. 40,411 971,884 # Oil-Dri Corp. of America 22,655 804,026 * Omega Protein Corp. 92,291 863,844 # Orchids Paper Products Co. 27,167 828,593 * Pantry, Inc. (The) 97,138 1,300,678 * Pilgrim's Pride Corp. 556,837 7,890,380 #* Pizza Inn Holdings, Inc. 8,932 73,153 * Post Holdings, Inc. 175,959 7,557,439 * Prestige Brands Holdings, Inc. 315,172 9,842,821 # Pricesmart, Inc. 121,492 13,824,575 # Reliv International, Inc. 28,122 71,149 #* Revlon, Inc. Class A 225,377 5,352,704 * Rite Aid Corp. 683,110 3,640,976 Rocky Mountain Chocolate Factory, Inc. 29,081 368,747 # Sanderson Farms, Inc. 152,917 9,665,884 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ------------ Consumer Staples -- (Continued) * Scheid Vineyards, Inc. Class A 440 $ 10,780 Seaboard Corp. 1,738 4,744,740 * Seneca Foods Corp. Class A 33,027 968,352 * Seneca Foods Corp. Class B 2,794 82,423 # Snyders-Lance, Inc. 352,117 10,559,989 # Spartan Stores, Inc. 109,462 2,575,641 Spectrum Brands Holdings, Inc. 117,302 7,732,548 #* Stephan Co. (The) 3,400 4,080 #* Susser Holdings Corp. 126,616 6,943,621 * Tofutti Brands, Inc. 19,440 54,432 # Tootsie Roll Industries, Inc. 141,790 4,537,280 * TreeHouse Foods, Inc. 217,722 15,950,314 #* United Natural Foods, Inc. 164,064 11,722,373 United-Guardian, Inc. 19,179 483,503 # Universal Corp. 113,899 6,040,064 #* USANA Health Sciences, Inc. 67,939 4,635,478 # Vector Group, Ltd. 70,198 1,135,102 Village Super Market, Inc. Class A 34,683 1,271,479 # WD-40 Co. 74,519 5,401,882 # Weis Markets, Inc. 107,733 5,512,698 ------------ Total Consumer Staples 329,271,322 ------------ Energy -- (4.2%) #* Abraxas Petroleum Corp. 111,700 322,813 Adams Resources & Energy, Inc. 19,183 993,104 # Alon USA Energy, Inc. 290,262 3,506,365 #* Alpha Natural Resources, Inc. 657,177 4,600,239 AMEN Properties, Inc. 19 11,068 #* Approach Resources, Inc. 138,132 3,888,416 * Barnwell Industries, Inc. 32,713 116,131 #* Basic Energy Services, Inc. 182,256 2,673,696 Berry Petroleum Co. Class A 22,468 1,072,847 #* Bill Barrett Corp. 202,144 5,593,325 #* Black Ridge Oil and Gas, Inc. 8,404 5,463 Bolt Technology Corp. 38,130 682,146 #* Bonanza Creek Energy, Inc. 229,587 11,603,327 #* BPZ Resources, Inc. 533,942 1,073,223 Bristow Group, Inc. 199,091 16,020,853 #* C&J Energy Services, Inc. 130,210 3,000,038 #* Cal Dive International, Inc. 364,422 717,911 #* Callon Petroleum Co. 180,466 1,232,583 # CARBO Ceramics, Inc. 108,728 13,627,968 #* Carrizo Oil & Gas, Inc. 269,561 11,817,554 * Clayton Williams Energy, Inc. 49,634 3,863,014 #* Clean Energy Fuels Corp. 409,703 4,666,517 * Cloud Peak Energy, Inc. 299,399 4,673,618 # Comstock Resources, Inc. 278,541 4,765,837 Contango Oil & Gas Co. 82,126 3,519,095 # Crosstex Energy, Inc. 293,535 9,008,589 * Dawson Geophysical Co. 42,474 1,241,940 Delek US Holdings, Inc. 340,679 8,704,348 # DHT Holdings, Inc. 42,024 215,583 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Energy -- (Continued) #* Double Eagle Petroleum Co. 38,812 $ 107,897 * Emerald Oil, Inc. 183,498 1,596,433 #* Endeavour International Corp. 121,748 723,183 Energy XXI Bermuda, Ltd. 44,658 1,297,762 * ENGlobal Corp. 92,274 101,501 #* EPL Oil & Gas, Inc. 257,783 8,218,122 * Era Group, Inc. 60,258 1,904,153 * Evolution Petroleum Corp. 29,839 359,858 #* Exterran Holdings, Inc. 405,470 11,576,169 #* FieldPoint Petroleum Corp. 31,986 153,533 #* Forest Oil Corp. 140,096 664,055 #* FX Energy, Inc. 25,837 89,913 * Gastar Exploration, Ltd. 147,813 638,552 #* Geospace Technologies Corp. 51,041 4,972,414 #* Gevo, Inc. 16,201 27,542 #* Global Geophysical Services, Inc. 229,422 548,319 #* Goodrich Petroleum Corp. 121,646 2,845,300 # Green Plains Renewable Energy, Inc. 168,260 2,714,034 * Gulf Coast Ultra Deep Royalty Trust 339,862 822,466 Gulf Island Fabrication, Inc. 57,605 1,452,798 # Gulfmark Offshore, Inc. Class A 154,103 7,671,247 #* Halcon Resources Corp. 248,594 1,287,717 #* Harvest Natural Resources, Inc. 170,665 853,325 * Helix Energy Solutions Group, Inc. 581,658 13,762,028 * Hercules Offshore, Inc. 777,124 5,284,443 * HKN, Inc. 2,360 175,820 #* Hornbeck Offshore Services, Inc. 201,744 11,150,391 #* Houston American Energy Corp. 59,887 15,571 #* ION Geophysical Corp. 952,274 4,418,551 #* James River Coal Co. 119,960 230,323 #* Key Energy Services, Inc. 641,730 5,018,329 * Kodiak Oil & Gas Corp. 70,089 909,054 #* Lucas Energy, Inc. 78,003 86,583 #* Magnum Hunter Resources Corp. 322,707 2,300,901 * Matador Resources Co. 301,503 5,550,670 * Matrix Service Co. 159,046 3,306,566 * Mexco Energy Corp. 6,572 43,178 #* Miller Energy Resources, Inc. 789 5,334 * Mitcham Industries, Inc. 54,852 912,737 * Natural Gas Services Group, Inc. 54,771 1,533,040 #* Newpark Resources, Inc. 520,939 6,641,972 # Nordic American Tankers, Ltd. 3,153 25,728 #* Northern Oil and Gas, Inc. 206,604 3,394,504 #* Nuverra Environmental Solutions, Inc. 990,304 2,416,342 #* Overseas Shipholding Group, Inc. 100,481 346,659 * Pacific Drilling SA 6,858 77,975 # Panhandle Oil and Gas, Inc. Class A 25,675 861,910 * Parker Drilling Co. 609,896 4,391,251 * PDC Energy, Inc. 209,703 14,219,960 * Penn Virginia Corp. 371,865 3,164,571 #* PetroQuest Energy, Inc. 282,341 1,332,650 #* PHI, Inc.(69336T106) 4,419 166,243 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ------------ Energy -- (Continued) #* PHI, Inc.(69336T205) 45,983 $ 1,831,043 #* Pioneer Energy Services Corp. 318,683 2,676,937 * PostRock Energy Corp. 23,314 34,038 #* Pyramid Oil Co. 17,796 94,319 #* Renewable Energy Group, Inc. 114,798 1,252,446 # Rentech, Inc. 913,205 1,561,581 * REX American Resources Corp. 21,400 617,176 #* Rex Energy Corp. 399,433 8,587,810 * RigNet, Inc. 10,057 370,701 #* Royale Energy, Inc. 10,018 26,948 #* Saratoga Resources, Inc. 548 1,332 # Scorpio Tankers, Inc. 633,009 7,304,924 # SEACOR Holdings, Inc. 90,609 8,861,560 SemGroup Corp. Class A 262,775 15,868,982 # Ship Finance International, Ltd. 425,251 7,037,904 * Steel Excel, Inc. 32,698 907,370 * Stone Energy Corp. 248,599 8,666,161 #* Swift Energy Co. 151,326 2,076,193 * Synergy Resources Corp. 363,873 3,769,724 #* Syntroleum Corp. 12,079 49,403 # Targa Resources Corp. 67,742 5,254,070 # Teekay Corp. 85,326 3,705,708 * Tesco Corp. 75,842 1,302,966 * TETRA Technologies, Inc. 451,136 5,851,234 TGC Industries, Inc. 95,637 704,845 * Triangle Petroleum Corp. 428,309 4,527,226 #* Unit Corp. 39,640 2,037,892 #* Uranium Energy Corp. 38,948 68,548 #* US Energy Corp. Wyoming 10,000 29,100 #* USEC, Inc. 15,222 122,689 #* Vaalco Energy, Inc. 288,447 1,520,116 # W&T Offshore, Inc. 426,086 8,133,982 * Warren Resources, Inc. 275,192 861,351 # Western Refining, Inc. 418,576 13,507,448 * Westmoreland Coal Co. 22,177 315,135 * Willbros Group, Inc. 269,857 2,633,804 #* Zion Oil & Gas, Inc. 9,773 16,028 ------------ Total Energy 387,775,882 ------------ Financials -- (13.6%) * 1st Constitution Bancorp 1,951 19,705 # 1st Source Corp. 103,360 3,243,437 # 1st United Bancorp Inc/Boca Raton 50,975 389,449 # Access National Corp. 30,693 445,969 * Alexander & Baldwin, Inc. 244,049 9,029,813 Alliance Bancorp, Inc. of Pennsylvania 3,510 50,895 * Altisource Asset Management Corp. 10,675 6,828,584 * Altisource Portfolio Solutions SA 119,358 18,772,626 Altisource Residential Corp. 20,476 544,047 # Ameriana Bancorp 2,912 39,428 * American Capital, Ltd. 116,604 1,633,622 # American Equity Investment Life Holding Co. 388,300 8,092,172 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Financials -- (Continued) * American Independence Corp. 1,537 $ 17,030 # American National Bankshares, Inc. 23,894 548,128 American National Insurance Co. 5 505 * American River Bankshares 7,326 63,590 * American Spectrum Realty, Inc. 3,652 7,487 * Ameris Bancorp 108,329 1,982,421 # AMERISAFE, Inc. 98,957 3,809,844 AmeriServ Financial, Inc. 278,158 873,416 # Amtrust Financial Services, Inc. 355,389 13,632,722 Argo Group International Holdings, Ltd. 135,966 5,707,853 # Arrow Financial Corp. 45,359 1,170,716 ASB Financial Corp. 900 12,402 Aspen Insurance Holdings, Ltd. 224,061 8,740,620 # Associated Banc-Corp. 227,197 3,694,223 Asta Funding, Inc. 48,129 412,947 # Astoria Financial Corp. 485,645 6,415,370 # Atlantic American Corp. 20,640 83,592 #* Atlantic Coast Financial Corp. 143 558 #* Atlanticus Holdings Corp. 73,372 256,068 # Auburn National BanCorp., Inc. 2,786 71,322 #* AV Homes, Inc. 46,957 896,879 Baldwin & Lyons, Inc. Class A 1,471 39,518 Baldwin & Lyons, Inc. Class B 31,049 848,569 # Banc of California, Inc. 40,045 565,035 # Bancfirst Corp. 51,393 2,855,909 * Bancorp, Inc. 180,985 2,926,527 # BancorpSouth, Inc. 583,296 12,890,842 Bank Mutual Corp. 135,527 861,952 Bank of Commerce Holdings 4,992 27,456 # Bank of Hawaii Corp. 279,070 16,180,479 Bank of Kentucky Financial Corp. 3,533 101,786 # Bank of the Ozarks, Inc. 204,363 10,111,881 BankFinancial Corp. 75,127 697,930 BankUnited, Inc. 26,800 824,636 # Banner Corp. 109,504 4,189,623 Bar Harbor Bankshares 12,753 481,298 # BBCN Bancorp, Inc. 490,824 7,278,920 * BBX Capital Corp. Class A 60,353 796,056 BCB Bancorp, Inc. 18,073 199,887 * BCSB Bancorp, Inc. 1,710 43,519 #* Beneficial Mutual Bancorp, Inc. 271,163 2,643,839 # Berkshire Bancorp, Inc. 10,144 78,312 Berkshire Hills Bancorp, Inc. 104,272 2,645,381 #* BFC Financial Corp. Class A 48,033 114,319 # BGC Partners, Inc. Class A 644,506 3,428,772 * BNCCORP, Inc. 3,900 53,040 #* BofI Holding, Inc. 86,700 5,238,414 Boston Private Financial Holdings, Inc. 466,404 5,312,342 Bridge Bancorp, Inc. 8,125 187,606 #* Bridge Capital Holdings 3,703 65,136 # Brookline Bancorp, Inc. 376,262 3,337,444 # Bryn Mawr Bank Corp. 55,613 1,549,378 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Financials -- (Continued) C&F Financial Corp. 1,342 $ 72,347 # Calamos Asset Management, Inc. Class A 108,959 1,069,977 # California First National Bancorp 14,701 262,413 * Camco Financial Corp. 9,661 59,898 Camden National Corp. 32,714 1,320,010 # Cape Bancorp, Inc. 6,168 56,807 * Capital Bank Financial Corp. Class A 7,001 155,562 #* Capital City Bank Group, Inc. 48,603 597,817 (d) Capital Properties, Inc., 5.000% 2,340 2,340 Capital Properties, Inc. Class A 2,600 20,800 Capital Southwest Corp. 25,860 850,018 CapitalSource, Inc. 1,117,458 14,616,351 # Capitol Federal Financial, Inc. 891,212 11,291,656 # Cardinal Financial Corp. 167,821 2,769,046 # Cash America International, Inc. 156,121 6,158,973 Cathay General Bancorp 473,328 11,658,069 Center Bancorp, Inc. 42,784 640,049 Centerstate Banks, Inc. 65,852 649,301 # Central Pacific Financial Corp. 37,614 692,850 # Century Bancorp, Inc. Class A 5,255 170,787 CFS Bancorp, Inc. 176,125 2,199,801 Charter Financial Corp. 27,896 302,393 Chemical Financial Corp. 123,807 3,626,307 Chicopee Bancorp, Inc. 9,906 173,850 Citizens Community Bancorp, Inc. 1,592 12,147 * Citizens First Corp. 400 3,540 Citizens Holding Co. 2,717 51,949 #* Citizens, Inc. 191,593 1,609,381 # City Holding Co. 66,774 3,038,217 # CKX Lands, Inc. 5,107 73,541 Clifton Savings Bancorp, Inc. 48,006 606,316 # CNB Financial Corp. 17,955 359,280 CNO Financial Group, Inc. 978,475 15,244,640 CoBiz Financial, Inc. 142,802 1,549,402 Codorus Valley Bancorp, Inc. 2,377 49,921 # Cohen & Steers, Inc. 14,801 567,766 #* Colonial Financial Services, Inc. 728 10,192 #* Colony Bankcorp, Inc. 10,672 65,313 Columbia Banking System, Inc. 261,412 6,715,674 Commercial National Financial Corp. 3,979 83,559 # Community Bank System, Inc. 219,361 7,964,998 # Community Trust Bancorp, Inc. 69,932 2,978,404 * Community West Bancshares 6,650 39,069 * CommunityOne Bancorp. 214 2,303 # Consolidated-Tomoka Land Co. 13,049 489,598 * Consumer Portfolio Services, Inc. 48,069 323,024 * Cowen Group, Inc. Class A 325,914 1,293,879 Crawford & Co. Class A 95,513 795,623 # Crawford & Co. Class B 62,643 688,447 #* Credit Acceptance Corp. 59,060 6,986,798 * Customers Bancorp, Inc. 6,289 105,341 # CVB Financial Corp. 639,122 9,292,834 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Financials -- (Continued) * DFC Global Corp. 205,008 $ 2,480,597 # Diamond Hill Investment Group, Inc. 985 108,616 Dime Community Bancshares, Inc. 201,821 3,301,792 # Donegal Group, Inc. Class A 64,023 1,014,765 # Donegal Group, Inc. Class B 5,267 110,607 #* Doral Financial Corp. 6,346 107,247 Eagle Bancorp Montana, Inc. 225 2,468 # Eastern Insurance Holdings, Inc. 25,294 618,185 * Eastern Virginia Bankshares, Inc. 590 3,558 #* eHealth, Inc. 98,447 4,195,811 # EMC Insurance Group, Inc. 37,461 1,275,172 Employers Holdings, Inc. 179,301 5,391,581 #* Encore Capital Group, Inc. 166,207 8,119,212 Endurance Specialty Holdings, Ltd. 250,038 13,824,601 #* Enstar Group, Ltd. 41,459 5,635,522 # Enterprise Bancorp, Inc. 10,055 196,475 Enterprise Financial Services Corp. 60,747 1,095,268 # ESB Financial Corp. 62,464 831,396 ESSA Bancorp, Inc. 44,575 488,542 # Evans Bancorp, Inc. 3,162 63,951 # Evercore Partners, Inc. Class A 209,651 10,581,086 * Ezcorp, Inc. Class A 199,375 3,136,169 #* Farmers Capital Bank Corp. 9,226 189,502 FBL Financial Group, Inc. Class A 112,288 5,023,765 Federal Agricultural Mortgage Corp. Class A 2,089 61,155 Federal Agricultural Mortgage Corp. Class C 54,573 1,947,710 # Federated Investors, Inc. Class B 85,763 2,325,893 Federated National Holding Co. Class C 28,865 295,866 # Fidelity Southern Corp. 22,196 338,936 # Financial Engines, Inc. 38,319 2,140,883 # Financial Institutions, Inc. 50,613 1,198,010 * First Acceptance Corp. 13,967 23,744 # First American Financial Corp. 248,670 6,430,606 #* First BanCorp 201,882 1,120,445 # First Bancorp 52,374 784,563 # First Bancorp, Inc. 32,161 559,923 #* First Bancshares, Inc.(318687100) 1,345 11,432 First Bancshares, Inc.(318916103) 921 13,677 First Busey Corp. 286,084 1,479,054 # First Business Financial Services, Inc. 2,089 73,575 * First Cash Financial Services, Inc. 165,396 10,004,804 First Citizens BancShares, Inc. Class A 12,599 2,667,586 # First Commonwealth Financial Corp. 525,855 4,569,680 First Community Bancshares, Inc. 62,423 1,041,840 # First Connecticut Bancorp Inc/Farmington 500 7,340 First Defiance Financial Corp. 42,781 1,104,605 * First Federal Bancshares of Arkansas, Inc. 11,406 102,426 First Federal of Northern Michigan Bancorp, Inc. 32,874 155,823 # First Financial Bancorp 335,063 5,200,178 # First Financial Bankshares, Inc. 133,168 8,191,164 # First Financial Corp. 55,998 1,934,171 First Financial Holdings, Inc. 147,939 8,865,984 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Financials -- (Continued) # First Financial Northwest, Inc. 48,804 $ 529,035 #* First Financial Service Corp. 5,202 25,802 # First Horizon National Corp. 20,945 223,064 First Interstate Bancsystem, Inc. 60,999 1,531,685 * First Marblehead Corp. (The) 129,350 124,176 First Merchants Corp. 126,581 2,379,723 # First Midwest Bancorp, Inc. 387,784 6,448,848 * First Place Financial Corp. 151,301 303 #* First South Bancorp, Inc. 20,886 141,189 * First United Corp. 9,289 76,170 First West Virginia Bancorp 63 1,033 Firstbank Corp. 10,400 203,736 FirstMerit Corp. 544,106 12,220,621 #* Flagstar Bancorp, Inc. 62,660 1,015,719 Flushing Financial Corp. 142,611 2,865,055 # FNB Corp. 855,878 10,707,034 #* Forestar Group, Inc. 205,529 4,589,463 #* Fortegra Financial Corp. 1,191 8,778 Fox Chase Bancorp, Inc. 44,680 771,624 Franklin Financial Corp. 101 1,906 # Fulton Financial Corp. 1,193,580 14,573,612 # FXCM, Inc. Class A 100,183 1,641,999 Gain Capital Holdings, Inc. 51,064 534,640 GAINSCO, Inc. 220 1,858 GAMCO Investors, Inc. Class A 22,530 1,611,120 # German American Bancorp, Inc. 31,150 846,657 GFI Group, Inc. 497,313 1,725,676 # Glacier Bancorp, Inc. 457,628 12,644,262 #* Gleacher & Co., Inc. 13,341 175,834 * Global Indemnity P.L.C. 60,537 1,491,026 Gouverneur Bancorp, Inc. 1,695 17,391 Great Southern Bancorp, Inc. 45,707 1,283,453 #* Green Dot Corp. Class A 163,620 3,511,285 # Greenhill & Co., Inc. 152,459 7,821,147 #* Greenlight Capital Re, Ltd. Class A 149,399 4,599,995 Guaranty Bancorp 37,021 499,783 #* Guaranty Federal Bancshares, Inc. 2,800 31,542 * Hallmark Financial Services, Inc. 67,422 573,761 # Hampden Bancorp, Inc. 2,924 50,293 * Hampton Roads Bankshares, Inc. 3,123 4,403 Hancock Holding Co. 47,993 1,573,211 Hanmi Financial Corp. 184,110 3,218,243 Hanover Insurance Group, Inc. (The) 211,679 12,391,689 Harleysville Savings Financial Corp. 1,615 29,635 #* Harris & Harris Group, Inc. 113,497 355,246 Hawthorn Bancshares, Inc. 726 10,026 # HCI Group, Inc. 72,121 3,168,997 # Heartland Financial USA, Inc. 52,741 1,397,109 # Heritage Commerce Corp. 46,358 361,129 # Heritage Financial Corp. 38,617 622,892 Heritage Financial Group, Inc. 7,167 123,129 # HF Financial Corp. 8,198 109,279 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Financials -- (Continued) # HFF, Inc. Class A 192,416 $ 4,723,813 #* Hilltop Holdings, Inc. 447,311 7,756,373 # Hingham Institution for Savings 4,073 296,189 #* HMN Financial, Inc. 31,110 267,857 * Home Bancorp, Inc. 921 16,735 # Home BancShares, Inc. 309,351 10,480,812 Home Federal Bancorp, Inc. 47,752 744,454 # HopFed Bancorp, Inc. 7,872 85,411 Horace Mann Educators Corp. 222,000 6,149,400 Horizon Bancorp 4,900 106,379 # Hudson Valley Holding Corp. 30,998 573,153 Iberiabank Corp. 156,134 9,122,910 * ICG Group, Inc. 186,070 3,034,802 Independence Holding Co. 76,440 1,048,757 * Independent Bank Corp.(453838609) 28,411 276,155 # Independent Bank Corp.(453836108) 115,530 4,145,216 Infinity Property & Casualty Corp. 47,846 3,281,279 Interactive Brokers Group, Inc. Class A 287,557 5,932,301 * InterGroup Corp. (The) 1,860 37,014 International Bancshares Corp. 301,148 6,881,232 #* Intervest Bancshares Corp. Class A 14,332 104,480 #* INTL. FCStone, Inc. 70,242 1,437,151 * Investment Technology Group, Inc. 141,126 2,260,839 # Investors Bancorp, Inc. 521,990 12,376,383 * Investors Capital Holdings, Ltd. 615 4,330 Investors Title Co. 5,690 444,617 #* Jacksonville Bancorp, Inc. 81 828 # Janus Capital Group, Inc. 391,332 3,862,447 * Jefferson Bancshares, Inc. 427 2,711 JMP Group, Inc. 75,954 486,865 #* JW Mays, Inc. 200 5,600 * KCG Holdings, Inc. Class A 40,047 350,011 #* Kearny Financial Corp. 156,507 1,643,323 Kemper Corp. 295,210 10,928,674 Kennedy-Wilson Holdings, Inc. 371,489 7,444,640 # Kentucky First Federal Bancorp 11,174 90,398 Lake Shore Bancorp, Inc. 537 6,471 # Lakeland Bancorp, Inc. 134,595 1,534,383 # Lakeland Financial Corp. 67,819 2,413,678 Landmark Bancorp, Inc. 4,230 85,065 Life Partners Holdings, Inc. 59,461 120,111 LNB Bancorp, Inc. 32,149 312,810 #* Louisiana Bancorp, Inc. 1,387 24,820 LSB Financial Corp. 291 8,296 * Macatawa Bank Corp. 113,670 558,120 * Magyar Bancorp, Inc. 1,800 13,185 # Maiden Holdings, Ltd. 297,388 3,256,399 MainSource Financial Group, Inc. 72,019 1,168,148 * Malvern Bancorp, Inc. 2,604 31,639 Manning & Napier, Inc. 17,303 287,230 MarketAxess Holdings, Inc. 209,326 13,654,335 Marlin Business Services Corp. 45,211 1,246,467 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Financials -- (Continued) * Maui Land & Pineapple Co., Inc. 16,899 $ 71,990 Mayflower Bancorp, Inc. 2,666 51,827 MB Financial, Inc. 328,902 9,768,389 #* MBIA, Inc. 1,058,064 12,030,188 * MBT Financial Corp. 12,507 48,027 MCG Capital Corp. 336,744 1,586,064 # Meadowbrook Insurance Group, Inc. 181,899 1,207,809 Medallion Financial Corp. 107,283 1,628,556 Mercantile Bank Corp. 18,259 398,777 Merchants Bancshares, Inc. 27,552 826,009 # Mercury General Corp. 173,473 8,076,903 #* Meridian Interstate Bancorp, Inc. 30,250 718,135 # Meta Financial Group, Inc. 10,434 388,353 * Metro Bancorp, Inc. 84,977 1,813,409 MetroCorp Bancshares, Inc. 19,897 285,124 #* MGIC Investment Corp. 675,535 5,498,855 MicroFinancial, Inc. 39,515 339,434 Mid Penn Bancorp, Inc. 2,649 31,973 MidSouth Bancorp, Inc. 17,719 268,974 # MidWestOne Financial Group, Inc. 741 19,577 # Montpelier Re Holdings, Ltd. 263,090 7,263,915 * MSB Financial Corp. 1,000 7,600 MutualFirst Financial, Inc. 10,911 185,487 # National Interstate Corp. 49,385 1,290,430 # National Penn Bancshares, Inc. 849,847 8,812,913 National Western Life Insurance Co. Class A 4,334 901,472 * Naugatuck Valley Financial Corp. 1,596 11,794 * Navigators Group, Inc. (The) 65,420 3,679,221 # NBT Bancorp, Inc. 200,416 4,884,138 Nelnet, Inc. Class A 186,752 7,961,238 * New Century Bancorp, Inc. 2,400 15,864 # New Hampshire Thrift Bancshares, Inc. 8,785 124,747 * NewBridge Bancorp 69,953 521,849 #* NewStar Financial, Inc. 183,769 3,199,418 Nicholas Financial, Inc. 4,051 65,019 * North Valley Bancorp 377 7,125 Northeast Bancorp 493 4,935 Northeast Community Bancorp, Inc. 11,679 88,176 # Northfield Bancorp, Inc. 226,758 2,931,981 Northrim BanCorp, Inc. 15,577 390,983 Northway Financial, Inc. 5,279 87,103 # Northwest Bancshares, Inc. 557,985 7,806,210 Norwood Financial Corp. 1,963 56,417 # Ocean Shore Holding Co. 3,443 49,132 OceanFirst Financial Corp. 79,731 1,402,468 OFG Bancorp 291,529 4,317,544 # Ohio Valley Banc Corp. 6,595 135,461 Old Line Bancshares, Inc. 4,075 54,360 # Old National Bancorp 590,353 8,583,733 #* Old Second Bancorp, Inc. 46,326 220,975 * OmniAmerican Bancorp, Inc. 55,762 1,222,303 # OneBeacon Insurance Group, Ltd. Class A 125,693 2,006,060 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Financials -- (Continued) Oppenheimer Holdings, Inc. Class A 23,277 $ 461,583 Oritani Financial Corp. 262,357 4,255,431 Pacific Continental Corp. 69,126 952,556 * Pacific Mercantile Bancorp 8,605 53,523 #* Pacific Premier Bancorp, Inc. 15,487 215,424 # PacWest Bancorp 212,456 8,083,951 Park National Corp. 66,264 5,249,434 Park Sterling Corp. 125,878 819,466 * Patriot National Bancorp, Inc. 3,100 3,751 # Peapack Gladstone Financial Corp. 34,320 629,429 # Penns Woods Bancorp, Inc. 16,245 831,744 # Peoples Bancorp of North Carolina, Inc. 3,975 52,033 # Peoples Bancorp, Inc. 34,123 765,038 Peoples Bancorp/Auburn 555 13,137 #* PHH Corp. 275,392 6,623,178 #* Phoenix Cos., Inc. (The) 17,230 664,561 #* PICO Holdings, Inc. 108,578 2,549,411 * Pinnacle Financial Partners, Inc. 196,676 6,096,956 #* Piper Jaffray Cos. 66,404 2,383,240 Platinum Underwriters Holdings, Ltd. 185,551 11,539,417 * Popular, Inc. 22,673 572,493 * Porter Bancorp, Inc. 9,708 10,873 #* Portfolio Recovery Associates, Inc. 223,602 13,293,139 #* Preferred Bank 17,238 331,314 Premier Financial Bancorp, Inc. 9,271 111,437 Primerica, Inc. 350,977 15,074,462 * Primus Guaranty, Ltd. 52,225 527,472 PrivateBancorp, Inc. 454,104 11,061,973 # Prosperity Bancshares, Inc. 104,968 6,555,252 Protective Life Corp. 146,613 6,755,927 # Provident Financial Holdings, Inc. 44,302 671,618 # Provident Financial Services, Inc. 289,766 5,430,215 #* Prudential Bancorp, Inc. 7,693 83,165 # Pulaski Financial Corp. 39,714 432,485 # Pzena Investment Management, Inc. Class A 29,376 211,213 QC Holdings, Inc. 67,835 159,412 # Radian Group, Inc. 466,486 6,796,701 # Renasant Corp. 109,107 3,129,189 # Republic Bancorp, Inc. Class A 75,190 1,730,874 * Republic First Bancorp, Inc. 21,386 67,366 # Resource America, Inc. Class A 67,766 584,821 * Riverview Bancorp, Inc. 37,965 100,987 # RLI Corp. 111,565 10,540,661 # Rockville Financial, Inc. 116,214 1,528,214 #* Roma Financial Corp. 64,952 1,263,966 * Royal Bancshares of Pennsylvania, Inc. Class A 8,295 12,691 # S&T Bancorp, Inc. 140,886 3,454,525 #* Safeguard Scientifics, Inc. 90,490 1,579,050 Safety Insurance Group, Inc. 68,896 3,767,922 # Salisbury Bancorp, Inc. 2,458 64,461 Sandy Spring Bancorp, Inc. 99,031 2,425,269 # SB Financial Group, Inc. 790 6,438 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Financials -- (Continued) #* Seacoast Banking Corp. of Florida 103,813 $ 236,694 Selective Insurance Group, Inc. 289,241 7,598,361 * Shore Bancshares, Inc. 16,489 150,874 SI Financial Group, Inc. 6,862 77,746 Sierra Bancorp 35,875 679,114 # Simmons First National Corp. Class A 72,539 2,374,927 Simplicity Bancorp, Inc. 17,616 276,219 * South Street Financial Corp. 400 2,500 * Southcoast Financial Corp. 13 75 (d) Southern Community Financial 57,808 12,718 * Southern First Bancshares, Inc. 3,037 40,817 # Southern Missouri Bancorp, Inc. 1,107 33,487 # Southern National Bancorp of Virginia, Inc. 493 4,807 # Southside Bancshares, Inc. 77,258 2,109,143 #* Southwest Bancorp, Inc. 76,045 1,217,480 Southwest Georgia Financial Corp. 1,844 17,518 #* St Joe Co. (The) 285,095 5,322,724 StanCorp Financial Group, Inc. 176,352 10,387,133 State Auto Financial Corp. 126,268 2,399,092 StellarOne Corp. 82,289 1,915,688 * Sterling Bancorp(859158107) 135,661 2,001,000 Sterling Bancorp(85917A100) 158,746 1,860,503 Sterling Financial Corp. 1,668 48,305 # Stewart Information Services Corp. 117,605 3,683,389 #* Stifel Financial Corp. 365,388 14,962,639 #* Stratus Properties, Inc. 26,622 409,446 * Suffolk Bancorp 78,876 1,542,026 Summit State Bank 195 1,930 #* Sun Bancorp, Inc. 242,822 801,313 Susquehanna Bancshares, Inc. 1,083,026 12,763,461 * Sussex Bancorp 10,149 69,470 * SWS Group, Inc. 72,807 409,903 SY Bancorp, Inc. 52,258 1,568,263 Symetra Financial Corp. 355,881 6,665,651 # Synovus Financial Corp. 3,440,963 11,183,130 * Taylor Capital Group, Inc. 73,897 1,699,631 # TCF Financial Corp. 1,012,331 15,367,185 Teche Holding Co. 5,917 297,625 * Tejon Ranch Co. 130,526 4,832,073 Territorial Bancorp, Inc. 39,716 866,206 # Teton Advisors, Inc. Class A 311 17,494 #* Texas Capital Bancshares, Inc. 241,949 12,593,445 TF Financial Corp. 7,379 204,767 Thomas Properties Group, Inc. 225,505 1,533,434 Timberland Bancorp, Inc. 76,238 676,231 # Tompkins Financial Corp. 40,622 2,003,477 Tower Financial Corp. 3,098 73,516 # Tower Group International, Ltd. 219,718 797,576 # TowneBank 92,522 1,347,120 # Tree.com, Inc. 44,893 1,324,792 Trico Bancshares 53,824 1,361,209 # TrustCo Bank Corp. 517,313 3,476,343 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- -------------- Financials -- (Continued) # Trustmark Corp. 399,995 $ 10,863,864 # UMB Financial Corp. 241,252 14,214,568 # Umpqua Holdings Corp. 638,403 10,450,657 Unico American Corp. 11,600 145,464 Union Bankshares Inc/Morrisville 2,252 48,801 # Union First Market Bankshares Corp. 88,724 2,140,023 United Bancshares, Inc. 900 11,943 # United Bankshares, Inc. 235,937 6,979,016 * United Community Banks, Inc. 231,672 3,611,766 #* United Community Financial Corp. 503,382 2,013,528 United Financial Bancorp, Inc. 71,500 1,121,120 United Fire Group, Inc. 108,670 3,444,839 * United Security Bancshares 27,744 142,603 Unity Bancorp, Inc. 8,514 63,089 # Universal Insurance Holdings, Inc. 222,734 1,746,235 Univest Corp. of Pennsylvania 64,370 1,285,469 # Valley National Bancorp 164,843 1,607,219 #* Vantagesouth Bancshares, Inc. 4,600 22,494 # ViewPoint Financial Group, Inc. 218,622 4,768,146 * Virginia Commerce Bancorp, Inc. 112,621 1,805,315 * Virtus Investment Partners, Inc. 31,188 6,347,382 # VSB Bancorp, Inc. 1,037 10,909 #* Walker & Dunlop, Inc. 60,828 789,547 Washington Banking Co. 59,986 1,020,362 Washington Federal, Inc. 576,365 13,129,595 # Washington Trust Bancorp, Inc. 70,529 2,319,699 * Waterstone Financial, Inc. 17,619 187,466 Wayne Savings Bancshares, Inc. 2,043 21,145 Webster Financial Corp. 569,447 15,881,877 # WesBanco, Inc. 119,819 3,522,679 # West BanCorp., Inc. 61,843 854,670 # Westamerica BanCorp. 147,920 7,614,922 * Western Alliance Bancorp 553,907 11,715,133 Westfield Financial, Inc. 110,392 795,926 Westwood Holdings Group, Inc. 24,868 1,326,210 Wilshire Bancorp, Inc. 418,232 3,542,425 # Wintrust Financial Corp. 231,757 10,083,747 #* World Acceptance Corp. 62,914 6,550,606 * Wright Investors' Service Holdings, Inc. 13,860 29,452 WSFS Financial Corp. 3,148 220,391 WVS Financial Corp. 4,423 48,918 * Yadkin Financial Corp. 12,826 210,603 * ZipRealty, Inc. 103,092 567,006 -------------- Total Financials 1,245,422,558 -------------- Health Care -- (7.8%) # Abaxis, Inc. 41,719 1,490,620 #* ABIOMED, Inc. 3,655 87,647 #* Acadia Healthcare Co., Inc. 10,853 470,586 #* ACADIA Pharmaceuticals, Inc. 167,745 3,812,844 #* Accelerate Diagnostics, Inc. 9,590 122,944 #* Accuray, Inc. 350,040 2,362,770 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Health Care -- (Continued) #* Acorda Therapeutics, Inc. 211,500 $ 6,474,015 #* Adcare Health Systems, Inc. 12,270 48,466 #* Addus HomeCare Corp. 49,916 1,290,329 #* Aegerion Pharmaceuticals, Inc. 43,377 3,592,483 #* Affymax, Inc. 141,242 159,603 * Affymetrix, Inc. 425,249 3,006,510 # Air Methods Corp. 220,994 9,661,858 #* Akorn, Inc. 134,915 2,757,663 #* Albany Molecular Research, Inc. 183,961 2,409,889 * Alere, Inc. 139,410 4,702,299 #* Align Technology, Inc. 286,722 16,360,357 * Alkermes P.L.C. 69,511 2,446,092 #* Alliance HealthCare Services, Inc. 33,920 855,123 * Allied Healthcare Products 13,770 32,084 #* Allscripts Healthcare Solutions, Inc. 627,789 8,682,322 Almost Family, Inc. 33,488 643,974 #* Alnylam Pharmaceuticals, Inc. 47,543 2,738,952 * Alphatec Holdings, Inc. 255,458 464,934 #* AMAG Pharmaceuticals, Inc. 76,254 2,057,333 #* Amedisys, Inc. 148,822 2,422,822 * American Shared Hospital Services 10,189 24,810 #* Amicus Therapeutics, Inc. 5,320 11,278 * AMN Healthcare Services, Inc. 264,788 3,283,371 * Amsurg Corp. 169,170 7,255,701 # Analogic Corp. 62,875 5,798,961 * AngioDynamics, Inc. 113,466 1,783,686 * ANI Pharmaceuticals, Inc. 1,341 13,745 #* Anika Therapeutics, Inc. 89,600 2,676,352 #* Arqule, Inc. 93,636 210,681 #* Arrhythmia Research Technology, Inc. 6,674 21,791 #* ArthroCare Corp. 138,954 5,202,438 * AtriCure, Inc. 9,221 127,711 # Atrion Corp. 9,270 2,476,759 #* Authentidate Holding Corp. 41,534 52,333 #* Auxilium Pharmaceuticals, Inc. 154,197 2,653,730 #* AVEO Pharmaceuticals, Inc. 126,042 260,907 #* Baxano Surgical, Inc. 107,994 130,673 #* Bio-Reference Labs, Inc. 129,207 4,187,599 #* Bioanalytical Systems, Inc. 5,617 10,335 * BioScrip, Inc. 416,334 2,918,501 * Biospecifics Technologies Corp. 10,491 196,182 Biota Pharmaceuticals, Inc. 24,681 94,528 * BioTelemetry, Inc. 140,590 1,284,993 #* Bovie Medical Corp. 54,539 139,620 #* BSD Medical Corp. 56,629 89,474 #* Cambrex Corp. 174,943 2,942,541 # Cantel Medical Corp. 223,153 7,832,670 #* Capital Senior Living Corp. 146,494 3,249,237 #* Cardica, Inc. 24,942 29,930 #* Catalyst Pharmaceutical Partners, Inc. 6,701 10,856 #* Celldex Therapeutics, Inc. 265,843 6,090,463 #* Celsion Corp. 8,283 33,299 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Health Care -- (Continued) * Centene Corp. 258,159 $14,498,209 #* Cepheid, Inc. 45,121 1,837,327 * Charles River Laboratories International, Inc. 314,552 15,479,104 # Chemed Corp. 102,071 6,922,455 * Chindex International, Inc. 9,384 157,933 #* Cleveland Biolabs, Inc. 7,404 10,218 #* Codexis, Inc. 41,835 72,793 # Computer Programs & Systems, Inc. 61,658 3,516,972 # CONMED Corp. 121,090 4,391,934 #* Corcept Therapeutics, Inc. 59,506 100,565 * Cornerstone Therapeutics, Inc. 8,840 83,715 * Corvel Corp. 101,356 4,216,410 * Cross Country Healthcare, Inc. 120,363 714,956 CryoLife, Inc. 113,975 1,024,635 #* Cumberland Pharmaceuticals, Inc. 100,403 490,971 #* Cutera, Inc. 73,938 743,077 #* Cyberonics, Inc. 173,933 10,046,370 #* Cynosure, Inc. Class A 97,922 2,116,094 #* Cytokinetics, Inc. 29,220 175,612 Daxor Corp. 14,561 108,771 #* Depomed, Inc. 15,354 110,549 * Digirad Corp. 120,709 401,961 #* Discovery Laboratories, Inc. 1,415 2,915 #* Durect Corp. 120,100 180,150 #* Dyax Corp. 173,946 1,429,836 * Emergent Biosolutions, Inc. 167,801 3,277,154 #* Emeritus Corp. 92,315 1,768,755 * Encision, Inc. 2,013 1,832 #* Endocyte, Inc. 13,199 137,666 # Ensign Group, Inc. (The) 114,234 4,864,084 #* EnteroMedics, Inc. 3,200 3,968 #* Entremed, Inc. 9,289 16,999 * Enzo Biochem, Inc. 184,277 458,850 # Enzon Pharmaceuticals, Inc. 213,649 316,201 #* Exact Sciences Corp. 80,468 886,757 #* Exactech, Inc. 46,584 1,057,457 #* ExamWorks Group, Inc. 147,441 3,811,350 #* Fibrocell Science, Inc. 3,711 13,731 * Five Star Quality Care, Inc. 161,870 820,681 #* Furiex Pharmaceuticals, Inc. 31,061 1,214,485 #* Galena Biopharma, Inc. 84 187 #* Genomic Health, Inc. 690 20,645 * Gentiva Health Services, Inc. 148,474 1,700,027 #* Geron Corp. 165,706 654,539 * Greatbatch, Inc. 138,640 5,284,957 #* GTx, Inc. 61,298 104,820 #* Haemonetics Corp. 292,980 11,883,269 * Hanger, Inc. 200,317 7,351,634 * Harvard Bioscience, Inc. 135,909 800,504 * Health Management Associates, Inc. Class A 832,810 10,676,624 * Health Net, Inc. 480,190 14,597,776 # HealthSouth Corp. 403,287 14,159,407 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Health Care -- (Continued) * HealthStream, Inc. 99,925 $ 3,569,321 #* Healthways, Inc. 227,350 2,189,380 # Hi-Tech Pharmacal Co., Inc. 60,287 2,597,767 # Hill-Rom Holdings, Inc. 371,392 15,334,776 #* HMS Holdings Corp. 40,096 847,228 * Hooper Holmes, Inc. 1,113,795 668,277 #* Horizon Pharma, Inc. 28,436 119,147 #* iBio, Inc. 20,300 7,156 * ICU Medical, Inc. 93,217 5,760,811 #* Idera Pharmaceuticals, Inc. 146,982 270,447 #* Immunomedics, Inc. 128,283 486,193 * Impax Laboratories, Inc. 440,603 8,926,617 #* Incyte Corp., Ltd. 113,589 4,429,971 #* Infinity Pharmaceuticals, Inc. 123,598 1,674,753 #* Integra LifeSciences Holdings Corp. 134,119 6,139,968 Invacare Corp. 144,563 3,103,768 #* IPC The Hospitalist Co., Inc. 84,445 4,626,742 * Iridex Corp. 4,691 28,005 #* Isis Pharmaceuticals, Inc. 69,742 2,320,316 Kewaunee Scientific Corp. 10,935 189,832 Kindred Healthcare, Inc. 324,288 4,501,117 # Landauer, Inc. 43,491 2,104,964 * Lannett Co., Inc. 139,769 3,299,946 * LCA-Vision, Inc. 68,039 223,848 LeMaitre Vascular, Inc. 76,701 616,676 #* LHC Group, Inc. 78,398 1,614,999 * LifePoint Hospitals, Inc. 236,483 12,211,982 #* Ligand Pharmaceuticals, Inc. Class B 5,706 295,343 #* Luminex Corp. 92,319 1,800,220 * Magellan Health Services, Inc. 152,394 8,945,528 # Masimo Corp. 324,019 8,301,367 #* Mast Therapeutics, Inc. 76,900 37,681 (d)* Maxygen, Inc. 155,971 4,679 * MedAssets, Inc. 362,964 8,359,061 (d)* MedCath Corp. 65,962 90,368 * Medical Action Industries, Inc. 76,730 464,984 * Medicines Co. (The) 395,553 13,417,158 #* MediciNova, Inc. 25,896 63,963 * Medidata Solutions, Inc. 123,762 13,652,186 # Meridian Bioscience, Inc. 136,927 3,384,835 * Merit Medical Systems, Inc. 211,792 3,386,554 #* Metabolix, Inc. 2,612 2,873 # MGC Diagnostics Corp. 215 2,548 * Misonix, Inc. 86,409 361,190 #* Molina Healthcare, Inc. 291,633 9,227,268 #* Momenta Pharmaceuticals, Inc. 300,988 4,933,193 #* MWI Veterinary Supply, Inc. 30,517 4,841,217 #* Myriad Genetics, Inc. 502,527 12,251,608 #* Nanosphere, Inc. 63,202 123,244 # National Healthcare Corp. 42,718 2,066,697 #* National Research Corp. Class A 88,416 1,550,817 # National Research Corp. Class B 14,736 412,461 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Health Care -- (Continued) #* Natus Medical, Inc. 161,364 $ 3,183,712 #* Neogen Corp. 85,536 3,953,474 * NuVasive, Inc. 272,305 8,653,853 * Omnicell, Inc. 207,636 4,790,162 #* OncoGenex Pharmaceutical, Inc. 11,746 82,574 #* Oncothyreon, Inc. 7,277 12,880 #* Opko Health, Inc. 855,851 8,575,627 #* OraSure Technologies, Inc. 23,066 150,390 * Orthofix International NV 83,984 1,720,832 #* Osiris Therapeutics, Inc. 25,262 336,237 # Owens & Minor, Inc. 404,519 15,137,101 #* Pacific Biosciences of California, Inc. 123,400 507,174 # Pain Therapeutics, Inc. 145,382 532,098 #* PAREXEL International Corp. 290,659 13,286,023 #* PDI, Inc. 119,189 568,532 # PDL BioPharma, Inc. 697,874 5,645,801 #* Pernix Therapeutics Holdings 24,884 52,008 #* PharMerica Corp. 125,283 1,849,177 #* PhotoMedex, Inc. 17,948 226,863 #* Pozen, Inc. 168,990 1,062,102 #* Progenics Pharmaceuticals, Inc. 147,191 535,775 * ProPhase Labs, Inc. 15,982 26,530 * Providence Service Corp. (The) 80,812 2,415,471 #* pSivida Corp. 72,613 177,902 Psychemedics Corp. 6,901 96,545 # Quality Systems, Inc. 296,567 6,767,659 #* Quidel Corp. 145,341 3,589,923 #* RadNet, Inc. 144,576 354,211 #* Repligen Corp. 200,456 2,192,989 #* Repros Therapeutics, Inc. 6,764 122,023 #* Rigel Pharmaceuticals, Inc. 215,483 665,842 #* Rochester Medical Corp. 54,677 1,092,446 #* RTI Biologics, Inc. 252,618 704,804 #* RXi Pharmaceuticals Corp. 2 6 #* Sagent Pharmaceuticals, Inc. 47,815 1,037,107 #* Sangamo Biosciences, Inc. 61,143 572,910 #* Santarus, Inc. 502,967 11,734,220 #* Sciclone Pharmaceuticals, Inc. 318,401 1,506,037 Select Medical Holdings Corp. 274,751 2,329,888 Simulations Plus, Inc. 35,178 184,333 #* Skilled Healthcare Group, Inc. Class A 101,578 432,722 #* Solta Medical, Inc. 205,928 380,967 Span-America Medical Systems, Inc. 12,193 229,838 * Special Diversified Opportunities, Inc. 1,950 2,164 * Spectranetics Corp. 109,297 2,283,214 # Spectrum Pharmaceuticals, Inc. 280,684 2,411,076 #* Staar Surgical Co. 79,542 1,053,136 * StemCells, Inc. 10,349 13,764 #* Stereotaxis, Inc. 8,630 37,713 STERIS Corp. 309,534 13,987,841 #* Sucampo Pharmaceuticals, Inc. Class A 63,175 391,685 * SurModics, Inc. 79,987 1,886,093 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ------------ Health Care -- (Continued) * Symmetry Medical, Inc. 161,803 $ 1,310,604 #* Synageva BioPharma Corp. 535 27,178 * Synthetic Biologics, Inc. 9,950 14,925 * Targacept, Inc. 33,471 158,987 * Team Health Holdings, Inc. 317,151 13,777,039 #* Tenet Healthcare Corp. 6,101 287,906 #* Theravance, Inc. 6,351 232,701 * Thoratec Corp. 353,463 15,266,067 #* Threshold Pharmaceuticals, Inc. 10,400 45,136 * Tornier NV 66,085 1,421,488 #* Transcept Pharmaceuticals, Inc. 73,786 271,532 * Triple-S Management Corp. Class B 96,828 1,724,507 # Universal American Corp. 348,712 2,587,443 * Uroplasty, Inc. 12,442 37,699 US Physical Therapy, Inc. 53,850 1,718,892 # Utah Medical Products, Inc. 16,465 916,442 #* Vascular Solutions, Inc. 78,513 1,540,425 #* VCA Antech, Inc. 578,974 16,471,810 #* Vical, Inc. 12,783 15,979 #* ViroPharma, Inc. 389,274 15,111,617 #* Vision Sciences, Inc. 4,525 3,801 #* Volcano Corp. 16,523 316,746 * WellCare Health Plans, Inc. 67,375 4,492,565 # West Pharmaceutical Services, Inc. 351,188 16,979,940 #* Wright Medical Group, Inc. 255,723 6,947,994 #* XenoPort, Inc. 34,270 179,232 Xstelos Holdings, Inc. 22,800 29,868 #* Zalicus, Inc. 3,543 15,517 * Zeltiq Aesthetics, Inc. 1,900 24,643 ------------ Total Health Care 712,280,752 ------------ Industrials -- (14.7%) AAON, Inc. 201,577 5,444,595 AAR Corp. 225,204 6,593,973 ABM Industries, Inc. 314,140 8,641,991 # Acacia Research Corp. 215,375 3,250,009 #* ACCO Brands Corp. 264,095 1,544,956 #* Accuride Corp. 36,019 162,086 Aceto Corp. 171,281 2,731,932 # Acme United Corp. 7,500 109,800 # Acorn Energy, Inc. 81,749 307,376 * Active Power, Inc. 77,492 230,151 # Actuant Corp. Class A 410,545 15,420,070 * Adept Technology, Inc. 63,689 529,892 #* Advisory Board Co. (The) 132,516 9,090,598 #* Aegion Corp. 237,200 4,862,600 #* AeroCentury Corp. 2,989 59,780 #* Aerovironment, Inc. 140,035 3,796,349 * Air Transport Services Group, Inc. 246,538 1,784,935 Aircastle, Ltd. 213,426 4,027,349 Alamo Group, Inc. 59,229 2,795,017 Albany International Corp. Class A 154,612 5,691,268 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Industrials -- (Continued) # Allegiant Travel Co. 109,313 $11,398,067 Alliant Techsystems, Inc. 169,067 18,406,324 (d) Allied Defense Group, Inc. (The) 59,074 310,139 Allied Motion Technologies, Inc. 12,558 119,929 # Altra Holdings, Inc. 179,676 5,456,760 AMERCO 73,467 14,835,191 #* Ameresco, Inc. Class A 73,348 767,220 # American Railcar Industries, Inc. 113,169 4,635,402 American Science & Engineering, Inc. 40,644 2,673,562 #* American Superconductor Corp. 57,131 124,546 #* American Woodmark Corp. 59,982 2,034,589 Ampco-Pittsburgh Corp. 37,840 696,634 * AMREP Corp. 8,340 67,137 Apogee Enterprises, Inc. 179,704 5,621,141 Applied Industrial Technologies, Inc. 260,037 12,302,350 * ARC Document Solutions, Inc. 198,196 1,236,743 # Argan, Inc. 45,682 1,016,425 # Arkansas Best Corp. 144,229 3,947,548 * Arotech Corp. 33,040 54,516 Art's-Way Manufacturing Co., Inc. 400 2,236 #* Ascent Solar Technologies, Inc. 100,796 94,748 # Astec Industries, Inc. 103,017 3,483,005 * Astronics Corp. 69,037 3,386,955 * Astronics Corp. Class B 13,683 660,762 #* Atlas Air Worldwide Holdings, Inc. 140,555 5,204,752 #* Avalon Holdings Corp. Class A 41,336 214,120 * Avis Budget Group, Inc. 493,987 15,476,613 AZZ, Inc. 137,189 6,159,786 Baltic Trading, Ltd. 80,849 362,204 # Barnes Group, Inc. 325,659 11,573,921 Barrett Business Services, Inc. 43,800 3,647,226 #* Beacon Roofing Supply, Inc. 284,406 9,871,732 Belden, Inc. 250,180 16,827,107 * Blount International, Inc. 245,385 2,988,789 * BlueLinx Holdings, Inc. 119,501 222,272 Brady Corp. Class A 246,973 7,209,142 * Breeze-Eastern Corp. 41,547 387,426 # Briggs & Stratton Corp. 263,173 4,826,593 Brink's Co. (The) 282,194 8,860,892 #* Builders FirstSource, Inc. 144,888 1,073,620 #* CAI International, Inc. 90,501 1,981,067 * Casella Waste Systems, Inc. Class A 118,135 698,178 #* CBIZ, Inc. 213,409 1,741,417 CDI Corp. 67,588 1,084,787 Ceco Environmental Corp. 96,326 1,700,154 # Celadon Group, Inc. 122,477 2,270,724 #* Cenveo, Inc. 24,095 75,658 #* Chart Industries, Inc. 150,375 16,160,801 Chicago Rivet & Machine Co. 2,923 97,044 CIRCOR International, Inc. 95,653 7,056,322 # CLARCOR, Inc. 74,653 4,365,707 Coleman Cable, Inc. 72,474 1,782,860 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Industrials -- (Continued) * Columbus McKinnon Corp. 95,388 $ 2,481,042 # Comfort Systems USA, Inc. 195,785 3,647,475 * Commercial Vehicle Group, Inc. 169,577 1,334,571 Compx International, Inc. 9,814 139,261 Con-way, Inc. 380,220 15,665,064 Conrad Industries, Inc. 6,600 214,203 * Consolidated Graphics, Inc. 52,293 3,351,458 # Corporate Executive Board Co. (The) 188,165 13,717,229 * Costa, Inc. 58,037 1,167,704 Courier Corp. 43,514 739,303 Covanta Holding Corp. 25,697 441,218 * Covenant Transportation Group, Inc. Class A 158,118 1,032,511 #* CPI Aerostructures, Inc. 26,965 334,366 * CRA International, Inc. 38,940 741,807 # Cubic Corp. 144,338 7,577,745 Curtiss-Wright Corp. 247,674 12,329,212 # Deluxe Corp. 298,457 14,054,340 #* DigitalGlobe, Inc. 493,255 15,695,374 * Dolan Co. (The) 109,295 280,888 # Douglas Dynamics, Inc. 105,695 1,603,393 #* Ducommun, Inc. 56,730 1,410,308 #* DXP Enterprises, Inc. 73,319 6,738,016 * Dycom Industries, Inc. 187,053 5,546,121 Dynamic Materials Corp. 59,129 1,306,751 #* Eagle Bulk Shipping, Inc. 59,714 332,010 # Eastern Co. (The) 20,021 331,348 #* Echo Global Logistics, Inc. 97,014 1,786,028 Ecology and Environment, Inc. Class A 10,494 115,434 EMCOR Group, Inc. 306,181 11,347,068 # Encore Wire Corp. 108,659 5,381,880 #* Energy Recovery, Inc. 163,092 952,457 #* EnerNOC, Inc. 139,589 2,321,365 EnerSys, Inc. 269,950 17,911,183 * Engility Holdings, Inc. 22,951 710,792 Ennis, Inc. 118,645 2,105,949 #* EnPro Industries, Inc. 128,496 7,667,356 * Environmental Tectonics Corp. 7,400 13,209 # ESCO Technologies, Inc. 125,008 4,510,289 # Espey Manufacturing & Electronics Corp. 11,359 369,168 * Esterline Technologies Corp. 173,167 13,881,067 Exelis, Inc. 780,550 12,871,270 # Exponent, Inc. 63,115 4,772,125 * Federal Signal Corp. 357,930 4,900,062 * Flow International Corp. 224,334 895,093 Forward Air Corp. 164,755 6,669,282 * Franklin Covey Co. 113,617 2,136,000 # Franklin Electric Co., Inc. 261,400 9,893,990 # FreightCar America, Inc. 51,678 1,149,319 #* FTI Consulting, Inc. 193,401 7,848,213 #* Fuel Tech, Inc. 95,412 432,216 * Furmanite Corp. 203,953 2,294,471 G&K Services, Inc. Class A 95,627 5,967,125 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Industrials -- (Continued) # GATX Corp. 249,467 $12,860,024 #* Genco Shipping & Trading, Ltd. 144,051 384,616 #* Gencor Industries, Inc. 5,287 48,270 #* GenCorp, Inc. 228,340 3,836,112 # Generac Holdings, Inc. 240,144 11,851,106 # General Cable Corp. 263,612 8,680,743 * Gibraltar Industries, Inc. 144,735 2,317,207 Global Power Equipment Group, Inc. 43,006 875,602 #* Goldfield Corp. (The) 77,899 148,008 Gorman-Rupp Co. (The) 93,316 3,801,694 * GP Strategies Corp. 93,091 2,608,410 #* GrafTech International, Ltd. 24,171 215,122 Graham Corp. 47,272 1,740,082 # Granite Construction, Inc. 196,426 6,354,381 # Great Lakes Dredge & Dock Corp. 296,593 2,408,335 #* Greenbrier Cos., Inc. 147,768 3,921,763 Griffon Corp. 251,911 3,156,445 * H&E Equipment Services, Inc. 218,452 5,467,854 Hardinge, Inc. 52,544 777,126 # Harsco Corp. 513,271 14,309,996 #* Hawaiian Holdings, Inc. 319,774 2,638,136 # Healthcare Services Group, Inc. 28,398 777,821 # Heartland Express, Inc. 543,356 7,802,592 # HEICO Corp. 139,213 7,459,006 HEICO Corp. Class A 152,556 5,943,592 Heidrick & Struggles International, Inc. 78,602 1,455,709 #* Heritage-Crystal Clean, Inc. 4,651 82,183 Herman Miller, Inc. 350,642 10,638,478 #* Hexcel Corp. 3,453 146,096 #* Hill International, Inc. 142,630 490,647 # HNI Corp. 246,494 9,576,292 * Horizon Lines, Inc. Class A 4,998 6,347 # Houston Wire & Cable Co. 134,612 1,867,068 #* Hub Group, Inc. Class A 222,220 8,162,141 #* Hudson Global, Inc. 120,105 390,341 #* Hudson Technologies, Inc. 3,900 8,307 Huntington Ingalls Industries, Inc. 227,971 16,311,325 Hurco Cos., Inc. 24,776 606,764 * Huron Consulting Group, Inc. 132,085 7,736,218 * Huttig Building Products, Inc. 100,706 251,765 Hyster-Yale Materials Handling, Inc. 64,860 5,087,618 * ICF International, Inc. 86,751 3,003,320 * II-VI, Inc. 310,298 5,293,684 #* InnerWorkings, Inc. 132,365 1,266,733 * Innotrac Corp. 16,000 107,360 # Innovative Solutions & Support, Inc. 46,017 362,614 Insperity, Inc. 136,717 5,286,846 Insteel Industries, Inc. 77,034 1,277,994 * Integrated Electrical Services, Inc. 30,483 142,051 * Intelligent Systems Corp. 32,937 50,723 # Interface, Inc. 351,133 7,110,443 # International Shipholding Corp. 18,655 463,017 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Industrials -- (Continued) # Intersections, Inc. 90,158 $ 772,654 ITT Corp. 239,815 9,527,850 #* JetBlue Airways Corp. 1,322,800 9,378,652 John Bean Technologies Corp. 161,233 4,382,313 * JPS Industries, Inc. 8,700 42,630 Kadant, Inc. 37,897 1,356,713 # Kaman Corp. 168,024 6,247,132 # Kelly Services, Inc. Class A 181,145 3,778,685 Kelly Services, Inc. Class B 350 7,494 * Key Technology, Inc. 20,756 300,339 Kforce, Inc. 194,260 3,824,979 Kimball International, Inc. Class B 137,253 1,605,860 # Knight Transportation, Inc. 520,132 8,826,640 Knoll, Inc. 260,842 4,283,026 * Korn/Ferry International 232,372 5,530,454 #* Kratos Defense & Security Solutions, Inc. 240,766 2,041,696 # Landstar System, Inc. 45,867 2,535,986 #* Lawson Products, Inc. 33,860 444,243 #* Layne Christensen Co. 88,751 1,716,444 LB Foster Co. Class A 45,687 2,135,867 # Lindsay Corp. 68,157 5,180,614 #* LMI Aerospace, Inc. 50,099 786,554 # LS Starrett Co. (The) Class A 26,536 301,714 LSI Industries, Inc. 94,390 869,332 * Luna Innovations, Inc. 6,456 9,297 * Lydall, Inc. 63,864 1,163,602 #* Magnetek, Inc. 38,959 705,937 #* Manitex International, Inc. 6,890 89,088 # Manitowoc Co., Inc. (The) 725,735 14,122,803 Marten Transport, Ltd. 163,134 2,877,684 #* MasTec, Inc. 498,398 15,933,784 Mastech Holdings, Inc. 418 6,094 # Matson, Inc. 251,919 6,824,486 McGrath RentCorp 102,242 3,646,972 * Meritor, Inc. 410,328 2,818,953 * Metalico, Inc. 162,485 266,475 * Mfri, Inc. 18,405 217,915 #* Middleby Corp. 75,298 17,141,590 Miller Industries, Inc. 57,987 1,086,676 # Mine Safety Appliances Co. 206,836 9,961,222 #* Mistras Group, Inc. 112,617 2,067,648 * Mobile Mini, Inc. 260,947 9,425,406 * Moog, Inc. Class A 204,624 12,222,192 #* Moog, Inc. Class B 10,012 605,526 Mueller Industries, Inc. 182,425 10,998,403 Mueller Water Products, Inc. Class A 964,136 8,262,646 Multi-Color Corp. 58,552 2,039,366 #* MYR Group, Inc. 114,295 3,023,103 National Presto Industries, Inc. 27,933 1,970,673 * National Technical Systems, Inc. 26,035 595,941 #* Navigant Consulting, Inc. 213,177 3,698,621 #* Navistar International Corp. 139,750 5,053,360 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Industrials -- (Continued) #* NCI Building Systems, Inc. 22,318 $ 322,049 # NL Industries, Inc. 150,263 1,752,067 NN, Inc. 87,293 1,403,671 #* Nortek, Inc. 1,844 129,393 * Northwest Pipe Co. 40,474 1,458,278 #* Ocean Power Technologies, Inc. 34,916 82,053 #* Odyssey Marine Exploration, Inc. 125,767 272,914 # Omega Flex, Inc. 25,792 524,609 * On Assignment, Inc. 331,924 11,215,712 * Orbit International Corp. 1,977 6,524 * Orbital Sciences Corp. 328,759 7,584,470 * Orion Energy Systems, Inc. 64,025 272,106 * Orion Marine Group, Inc. 84,584 1,057,300 * Pacer International, Inc. 194,318 1,550,658 PAM Transportation Services, Inc. 32,028 557,287 * Park-Ohio Holdings Corp. 57,786 2,392,918 * Patrick Industries, Inc. 58,158 1,819,182 #* Patriot Transportation Holding, Inc. 38,246 1,413,955 * Pendrell Corp. 161,066 359,177 * PGT, Inc. 283,744 2,965,125 Pike Electric Corp. 163,887 1,771,618 #* Plug Power, Inc. 66,963 38,839 #* PMFG, Inc. 35,785 280,554 #* Polypore International, Inc. 218,658 9,883,342 * Powell Industries, Inc. 58,996 3,706,719 #* PowerSecure International, Inc. 137,790 2,491,243 Preformed Line Products Co. 22,931 1,926,663 # Primoris Services Corp. 295,273 7,688,909 #* Proto Labs, Inc. 23,156 1,941,862 # Providence and Worcester Railroad Co. 5,591 114,448 Quad/Graphics, Inc. 9,461 330,378 #* Quality Distribution, Inc. 148,365 1,525,192 # Quanex Building Products Corp. 199,500 3,547,110 # Raven Industries, Inc. 159,731 5,328,626 #* RBC Bearings, Inc. 115,104 7,918,004 # RCM Technologies, Inc. 146,273 943,461 #* Real Goods Solar, Inc. Class A 2,817 9,437 * Republic Airways Holdings, Inc. 242,919 2,861,586 Resources Connection, Inc. 207,551 2,648,351 * Rexnord Corp. 6,958 163,652 * Roadrunner Transportation Systems, Inc. 183,828 4,871,442 #* RPX Corp. 300,576 5,368,287 # RR Donnelley & Sons Co. 526,113 9,769,918 #* Rush Enterprises, Inc. Class A 141,509 4,049,988 * Rush Enterprises, Inc. Class B 37,831 919,672 #* Saia, Inc. 138,430 4,503,128 Schawk, Inc. 83,926 1,226,998 * Schuff International, Inc. 6,400 109,120 # Servotronics, Inc. 1,500 12,660 SIFCO Industries, Inc. 16,765 371,848 Simpson Manufacturing Co., Inc. 287,176 10,180,389 SkyWest, Inc. 252,677 3,800,262 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Industrials -- (Continued) SL Industries, Inc. 20,885 $ 563,895 # SmartPros, Ltd. 10,300 20,600 * Sparton Corp. 40,544 1,069,956 * Spirit Airlines, Inc. 478,914 20,665,139 #* Standard Parking Corp. 73,313 1,940,595 #* Standard Register Co. (The) 29,933 254,431 Standex International Corp. 62,655 3,853,909 Steelcase, Inc. Class A 566,404 9,283,362 * Sterling Construction Co., Inc. 57,288 549,965 # Sun Hydraulics Corp. 123,350 4,894,528 #* Supreme Industries, Inc. Class A 113,237 693,010 #* Swift Transportation Co. 506,395 11,034,347 Sypris Solutions, Inc. 285,243 909,925 # TAL International Group, Inc. 206,088 9,956,111 #* Taser International, Inc. 309,239 5,495,177 #* Team, Inc. 100,845 3,760,510 #* Tecumseh Products Co. Class A 47,621 371,444 * Tecumseh Products Co. Class B 4,097 29,867 * Tel-Instrument Electronics Corp. 8,400 35,448 * Teledyne Technologies, Inc. 121,056 10,752,194 Tennant Co. 97,599 5,923,283 #* Tetra Tech, Inc. 338,285 8,839,387 # Textainer Group Holdings, Ltd. 238,948 9,056,129 * Thermon Group Holdings, Inc. 32,204 757,116 # Titan International, Inc. 262,361 3,804,235 #* Titan Machinery, Inc. 99,135 1,748,741 Toro Co. (The) 216,232 12,744,714 * Transcat, Inc. 5,600 47,040 * TRC Cos., Inc. 357,086 2,745,991 #* Trex Co., Inc. 32,488 2,281,307 * Trimas Corp. 249,314 9,439,028 # Trinity Industries, Inc. 104,162 5,273,722 * TrueBlue, Inc. 255,466 6,310,010 * Tufco Technologies, Inc. 4,700 23,735 #* Tutor Perini Corp. 232,208 5,329,174 # Twin Disc, Inc. 42,836 1,108,167 * Ultralife Corp. 60,836 237,260 UniFirst Corp. 79,740 8,198,867 # United Stationers, Inc. 243,134 10,804,875 # Universal Forest Products, Inc. 99,511 5,266,122 #* Universal Power Group, Inc. 1,533 1,916 * Universal Security Instruments, Inc. 1,595 7,616 Universal Truckload Services, Inc. 49,178 1,311,085 #* US Airways Group, Inc. 618,378 13,585,765 # US Ecology, Inc. 101,831 3,620,092 * USA Truck, Inc. 29,426 390,777 #* USG Corp. 199,101 5,437,448 # UTi Worldwide, Inc. 628,800 9,557,760 * Versar, Inc. 27,782 131,409 Viad Corp. 101,904 2,720,837 * Vicor Corp. 107,188 944,326 * Virco Manufacturing Corp. 30,131 61,166 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- -------------- Industrials -- (Continued) * Volt Information Sciences, Inc. 119,747 $ 1,041,799 VSE Corp. 11,278 493,976 #* Wabash National Corp. 396,869 4,627,493 # Watsco, Inc. Class B 12,022 1,149,664 # Watts Water Technologies, Inc. Class A 171,212 9,892,629 # Werner Enterprises, Inc. 463,579 10,736,490 #* Wesco Aircraft Holdings, Inc. 180,796 3,312,183 * Willdan Group, Inc. 9,040 34,533 #* Willis Lease Finance Corp. 26,350 459,281 Woodward, Inc. 13,471 540,052 WSI Industries, Inc. 1,900 11,400 * Xerium Technologies, Inc. 3,189 38,236 * XPO Logistics, Inc. 72,885 1,470,819 #* YRC Worldwide, Inc. 8,808 83,500 -------------- Total Industrials 1,350,900,882 -------------- Information Technology -- (14.5%) #* 3D Systems Corp. 93,081 5,793,361 * Accelrys, Inc. 270,765 2,531,653 * ACI Worldwide, Inc. 164,871 9,087,690 #* Active Network, Inc. (The) 141,901 2,049,050 * Actuate Corp. 262,908 2,105,893 * Acxiom Corp. 457,131 15,190,463 * ADDvantage Technologies Group, Inc. 6,085 16,125 # ADTRAN, Inc. 303,053 7,115,684 * Advanced Energy Industries, Inc. 227,586 4,751,996 #* Advanced Micro Devices, Inc. 85,320 284,969 * Advanced Photonix, Inc. Class A 3,313 2,319 # Advent Software, Inc. 311,780 10,460,219 * Aehr Test Systems 11,205 28,573 * Aeroflex Holding Corp. 98,632 764,398 * Aetrium, Inc. 721 2,560 * Agilysys, Inc. 110,233 1,295,238 * Alpha & Omega Semiconductor, Ltd. 15,353 112,998 American Software, Inc. Class A 128,592 1,125,180 #* Amkor Technology, Inc. 684,883 3,636,729 * Amtech Systems, Inc. 35,270 282,160 #* ANADIGICS, Inc. 265,907 537,132 #* Anaren, Inc. 62,532 1,562,049 * Anixter International, Inc. 180,205 15,405,725 # AOL, Inc. 73,747 2,672,591 #* Applied Micro Circuits Corp. 263,957 3,077,739 * ARRIS Group, Inc. 647,554 11,565,314 * AsiaInfo-Linkage, Inc. 129,671 1,504,184 * Aspen Technology, Inc. 226,186 8,647,091 * Astea International, Inc. 2,800 7,882 Astro-Med, Inc. 30,318 384,432 * ATMI, Inc. 181,121 4,951,848 * Autobytel, Inc. 141,737 1,155,157 #* AVG Technologies NV 144,914 2,912,771 * Aviat Networks, Inc. 234,019 482,079 #* Avid Technology, Inc. 135,643 1,010,540 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Information Technology -- (Continued) AVX Corp. 16,731 $ 221,686 # Aware, Inc. 69,054 361,152 * Axcelis Technologies, Inc. 379,255 822,983 * AXT, Inc. 182,535 412,529 # Badger Meter, Inc. 69,604 3,620,104 #* Bankrate, Inc. 319,340 5,377,686 #* Bazaarvoice, Inc. 87,690 822,532 # Bel Fuse, Inc. Class A 8,954 184,631 Bel Fuse, Inc. Class B 34,433 724,470 * Benchmark Electronics, Inc. 243,068 5,524,936 # Black Box Corp. 68,151 1,706,501 # Blackbaud, Inc. 117,641 4,235,076 * Blonder Tongue Laboratories 22,536 20,508 #* Blucora, Inc. 255,092 6,027,824 Bogen Communications International 11,900 22,015 (d)* Bogen Corp 11,900 -- # Booz Allen Hamilton Holding Corp. 104,782 2,074,684 #* Bottomline Technologies de, Inc. 210,336 6,608,757 * BroadVision, Inc. 15,154 146,842 * Brocade Communications Systems, Inc. 20,145 161,563 Brooks Automation, Inc. 340,664 3,284,001 #* Bsquare Corp. 35,768 115,173 * BTU International, Inc. 20,326 67,279 #* Cabot Microelectronics Corp. 135,202 5,528,410 #* CACI International, Inc. Class A 135,805 9,775,244 * CalAmp Corp. 425,510 10,012,250 * Calix, Inc. 271,600 2,762,172 * Cardtronics, Inc. 278,089 10,914,993 * Cascade Microtech, Inc. 57,434 588,124 # Cass Information Systems, Inc. 40,710 2,333,904 #* Ceva, Inc. 117,571 1,684,792 * Checkpoint Systems, Inc. 210,708 3,586,250 #* China Information Technology, Inc. 55,389 253,128 * ChyronHego Corp. 1,822 2,733 #* CIBER, Inc. 357,979 1,163,432 #* Ciena Corp. 475,736 11,070,377 #* Cirrus Logic, Inc. 331,644 7,438,775 #* Clearfield, Inc. 82,011 1,217,043 # Cognex Corp. 465,402 14,543,812 #* Cogo Group, Inc. 19,733 46,767 # Coherent, Inc. 115,967 7,675,856 Cohu, Inc. 98,230 939,079 (d)#* Commerce One LLC 45,000 -- Communications Systems, Inc. 31,263 356,711 # Computer Task Group, Inc. 87,373 1,496,699 Compuware Corp. 995,933 10,636,564 * comScore, Inc. 36,030 962,722 Comtech Telecommunications Corp. 99,951 3,000,529 * Comverse, Inc. 19,280 608,862 Concurrent Computer Corp. 42,599 313,955 #* Constant Contact, Inc. 131,479 3,406,621 # Convergys Corp. 527,042 10,403,809 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Information Technology -- (Continued) * CoreLogic, Inc. 289,920 $ 9,645,638 #* Cornerstone OnDemand, Inc. 38,714 1,833,882 #* CoStar Group, Inc. 79,131 14,005,396 #* Cray, Inc. 232,917 5,208,024 #* Crexendo, Inc. 23,717 73,523 # CSG Systems International, Inc. 190,759 5,314,546 CSP, Inc. 8,385 63,391 CTS Corp. 203,510 3,789,356 #* CVD Equipment Corp. 10,329 115,685 * CyberOptics Corp. 28,233 143,141 # Cypress Semiconductor Corp. 180,953 1,679,244 Daktronics, Inc. 204,868 2,450,221 * Data I/O Corp. 7,300 21,535 #* Datalink Corp. 106,508 1,093,837 #* Dataram Corp. 11,830 28,865 * Datawatch Corp. 3,832 115,726 * Dealertrack Technologies, Inc. 250,452 9,341,860 #* Demand Media, Inc. 84,075 401,879 #* Dice Holdings, Inc. 317,356 2,342,087 # Diebold, Inc. 403,810 12,098,148 * Digi International, Inc. 114,343 1,152,577 Digimarc Corp. 27,972 589,090 #* Digital River, Inc. 185,210 3,304,146 #* Diodes, Inc. 284,139 6,881,847 * Dot Hill Systems Corp. 691,220 2,004,538 * DSP Group, Inc. 98,661 735,024 #* DTS, Inc. 82,764 1,655,280 * Dynamics Research Corp. 93,697 693,358 EarthLink, Inc. 496,497 2,512,275 # Ebix, Inc. 169,396 1,927,726 #* Echelon Corp. 48,148 104,481 * Edgewater Technology, Inc. 43,768 299,811 #* Elecsys Corp. 10,067 88,388 Electro Rent Corp. 100,964 1,831,487 Electro Scientific Industries, Inc. 125,616 1,504,880 * Electronics for Imaging, Inc. 284,527 9,762,121 #* Ellie Mae, Inc. 97,115 2,806,623 # eMagin Corp. 63,552 174,768 #* Emcore Corp. 97,022 517,127 * Emulex Corp. 453,024 3,411,271 * Entegris, Inc. 815,302 8,438,376 #* Entropic Communications, Inc. 349,732 1,496,853 * Envestnet, Inc. 15,866 575,936 #* EPAM Systems, Inc. 33,631 1,260,154 # EPIQ Systems, Inc. 146,459 2,191,027 ePlus, Inc. 23,869 1,297,519 * Euronet Worldwide, Inc. 307,232 13,333,869 Evolving Systems, Inc. 5,500 57,365 * Exar Corp. 231,446 2,668,572 * ExlService Holdings, Inc. 174,062 5,032,132 * Extreme Networks 454,145 2,434,217 * Fabrinet 92,677 1,551,413 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Information Technology -- (Continued) Fair Isaac Corp. 200,622 $11,491,628 #* Fairchild Semiconductor International, Inc. 635,702 8,054,344 #* FalconStor Software, Inc. 137,274 203,166 * FARO Technologies, Inc. 74,252 3,526,970 FEI Co. 177,398 15,802,614 #* Finisar Corp. 631,992 14,542,136 #* First Solar, Inc. 5,381 270,503 * FormFactor, Inc. 267,544 1,396,580 # Forrester Research, Inc. 110,009 4,269,449 Frequency Electronics, Inc. 47,309 525,603 #* Fusion-io, Inc. 54,440 585,230 * Giga-tronics, Inc. 3,942 3,725 #* GigOptix, Inc. 17,782 24,895 * Global Cash Access Holdings, Inc. 359,631 2,984,937 # Globalscape, Inc. 11,073 18,547 * Globecomm Systems, Inc. 143,348 2,011,172 * GSE Systems, Inc. 72,970 124,049 * GSI Group, Inc. 66,177 660,446 * GSI Technology, Inc. 100,042 702,295 #* GT Advanced Technologies, Inc. 495,965 3,719,737 #* Guidance Software, Inc. 48,882 427,229 #* Guidewire Software, Inc. 140,160 7,108,915 Hackett Group, Inc. (The) 182,696 1,300,796 * Harmonic, Inc. 560,042 4,093,907 * Hauppauge Digital, Inc. 32,277 11,394 # Heartland Payment Systems, Inc. 222,917 9,016,993 * Higher One Holdings, Inc. 29,137 231,639 * Hittite Microwave Corp. 109,565 7,000,108 * Hutchinson Technology, Inc. 102,848 382,595 * ID Systems, Inc. 38,571 200,569 * Identive Group, Inc. 128,478 82,213 #* IEC Electronics Corp. 33,539 144,218 * iGATE Corp. 350,025 11,144,796 #* iGO, Inc. 3,154 9,241 #* Ikanos Communications, Inc. 218,977 286,860 * Imation Corp. 143,848 668,893 * Immersion Corp. 91,211 1,160,204 #* Infinera Corp. 729,108 7,444,193 * Innodata, Inc. 80,576 193,382 #* Inphi Corp. 91,007 1,341,443 * Insight Enterprises, Inc. 207,563 4,373,352 #* Integrated Device Technology, Inc. 912,631 9,710,394 * Integrated Silicon Solution, Inc. 144,766 1,560,577 * Interactive Intelligence Group, Inc. 70,851 4,353,794 # InterDigital, Inc. 126,387 4,897,496 #* Internap Network Services Corp. 319,865 2,325,419 * International Rectifier Corp. 349,363 9,097,413 * Internet Patents Corp. 1,533 4,906 * Interphase Corp. 23,732 96,589 Intersil Corp. Class A 743,896 8,301,879 # inTEST Corp. 43,077 165,846 #* Intevac, Inc. 86,353 440,400 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Information Technology -- (Continued) * IntraLinks Holdings, Inc. 57,834 $ 600,895 * IntriCon Corp. 23,513 104,163 #* InvenSense, Inc. 48,147 813,203 * Ipass, Inc. 479,670 887,390 * Iteris, Inc. 19,424 39,819 #* Itron, Inc. 210,415 8,978,408 * Ixia 391,109 5,545,926 IXYS Corp. 127,943 1,487,977 # j2 Global, Inc. 290,465 15,969,766 * Kemet Corp. 154,026 873,327 * Key Tronic Corp. 50,515 548,088 #* Kopin Corp. 271,967 998,119 #* Kulicke & Soffa Industries, Inc. 400,935 5,172,061 #* KVH Industries, Inc. 112,894 1,551,164 * Lantronix, Inc. 2,333 3,080 * Lattice Semiconductor Corp. 642,283 3,294,912 Lender Processing Services, Inc. 277,225 9,569,807 # Lexmark International, Inc. Class A 428,784 15,243,271 * LGL Group, Inc. (The) 7,103 42,192 #* Lightpath Technologies, Inc. Class A 1,850 2,572 #* Limelight Networks, Inc. 400,054 768,104 #* Lionbridge Technologies, Inc. 258,519 1,127,143 #* Liquidity Services, Inc. 2,870 74,936 Littelfuse, Inc. 129,310 10,995,229 #* LivePerson, Inc. 2,985 27,880 * LogMeIn, Inc. 2,755 88,987 * LoJack Corp. 88,416 387,262 * LTX-Credence Corp. 319,926 1,961,146 * M/A-COM Technology Solutions Holdings, Inc. 600 10,362 * Magnachip Semiconductor Corp. 217,545 4,065,916 * Management Network Group, Inc. 42,154 116,345 * Manhattan Associates, Inc. 111,169 11,840,610 # ManTech International Corp. Class A 86,509 2,417,061 Marchex, Inc. Class B 103,240 920,901 #* Mattersight Corp. 26,897 113,774 #* Mattson Technology, Inc. 142,298 421,202 MAXIMUS, Inc. 311,882 15,110,683 #* MaxLinear, Inc. Class A 40,536 351,042 #* Maxwell Technologies, Inc. 124,266 931,995 #* Measurement Specialties, Inc. 73,449 4,093,313 * Mediabistro, Inc. 14,428 25,970 # Mentor Graphics Corp. 664,694 14,676,444 #* Mercury Systems, Inc. 226,389 2,087,307 # Mesa Laboratories, Inc. 15,339 1,068,055 Methode Electronics, Inc. 250,650 6,411,627 Micrel, Inc. 309,448 2,846,922 * Microsemi Corp. 561,715 14,115,898 #* Millennial Media, Inc. 35,215 247,561 #* Mindspeed Technologies, Inc. 172,165 497,557 MKS Instruments, Inc. 282,716 8,379,702 # MOCON, Inc. 23,794 331,926 * ModusLink Global Solutions, Inc. 156,445 644,553 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Information Technology -- (Continued) * MoneyGram International, Inc. 36,682 $ 774,357 Monolithic Power Systems, Inc. 203,499 6,479,408 # Monotype Imaging Holdings, Inc. 212,816 6,005,668 #* Monster Worldwide, Inc. 174,254 752,777 #* MoSys, Inc. 167,152 735,469 * Move, Inc. 206,943 3,511,823 # MRV Communications, Inc. 34,710 381,810 MTS Systems Corp. 78,833 5,149,372 * Multi-Fineline Electronix, Inc. 97,676 1,309,835 #* Nanometrics, Inc. 173,921 3,231,452 #* NAPCO Security Technologies, Inc. 34,854 195,879 #* NCI, Inc. Class A 28,077 160,039 #* NeoPhotonics Corp. 5,964 42,285 #* NETGEAR, Inc. 179,829 5,171,882 #* Netlist, Inc. 78,133 64,093 * Netscout Systems, Inc. 226,473 6,413,715 * Newport Corp. 221,885 3,521,315 * Newtek Business Services, Inc. 148,095 430,956 NIC, Inc. 255,343 6,286,545 #* Novatel Wireless, Inc. 157,129 481,600 #* Numerex Corp. Class A 47,759 564,034 #* Oclaro, Inc. 239,817 489,227 * Official Payments Holdings, Inc. 52,586 438,567 #* OmniVision Technologies, Inc. 350,499 4,910,491 * Omtool, Ltd. 3,470 4,233 #* Onvia, Inc. 2,306 11,299 #* OpenTable, Inc. 39,537 2,747,031 * Oplink Communications, Inc. 96,857 1,767,640 # Optical Cable Corp. 26,264 104,793 #* OSI Systems, Inc. 109,666 7,988,071 #* Overland Storage, Inc. 62,392 56,153 #* Pandora Media, Inc. 445,509 11,195,641 * PAR Technology Corp. 35,625 198,075 Park Electrochemical Corp. 86,551 2,427,756 #* Parkervision, Inc. 71,039 194,647 PC Connection, Inc. 50,404 1,007,576 PC-Tel, Inc. 58,100 535,101 * PCM, Inc. 42,066 442,534 #* PDF Solutions, Inc. 120,975 2,778,796 Pegasystems, Inc. 60,475 2,301,679 Perceptron, Inc. 36,637 512,552 #* Perficient, Inc. 185,689 3,359,114 * Performance Technologies, Inc. 42,915 133,037 * Pericom Semiconductor Corp. 91,000 735,280 #* Pfsweb, Inc. 6,817 49,014 #* Photronics, Inc. 339,614 2,852,758 #* Pixelworks, Inc. 49,388 223,728 #* Planar Systems, Inc. 280,770 586,809 Plantronics, Inc. 264,998 11,379,014 #* Plexus Corp. 193,597 7,410,893 #* PLX Technology, Inc. 98,909 597,410 * PMC - Sierra, Inc. 1,155,086 6,780,355 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Information Technology -- (Continued) #* Polycom, Inc. 396,748 $ 4,126,179 Power Integrations, Inc. 153,043 8,790,790 * PRGX Global, Inc. 98,438 706,785 #* Procera Networks, Inc. 40,135 567,910 #* Progress Software Corp. 339,490 8,813,160 * PROS Holdings, Inc. 18,690 660,692 #* Pulse Electronics Corp. 1,907 7,085 # QAD, Inc. Class A 47,305 705,791 QAD, Inc. Class B 13,168 165,917 #* QLIK Technologies, Inc. 233,847 5,925,683 * QLogic Corp. 417,029 5,150,308 * Qualstar Corp. 25,800 33,798 #* Quantum Corp. 327,237 405,774 #* QuickLogic Corp. 31,488 121,229 #* QuinStreet, Inc. 66,032 587,024 * Qumu Corp. 34,165 511,792 * Radisys Corp. 125,621 379,375 #* Rambus, Inc. 586,310 5,124,349 #* RealD, Inc. 39,447 272,973 * RealNetworks, Inc. 142,578 1,093,573 * RealPage, Inc. 19,294 473,282 * Reis, Inc. 41,887 753,547 #* Relm Wireless Corp. 30,643 80,591 #* Remark Media, Inc. 436 1,522 #* Research Frontiers, Inc. 4,300 20,726 * Responsys, Inc. 64,819 1,059,142 RF Industries, Ltd. 33,466 307,553 * RF Micro Devices, Inc. 1,658,844 8,708,931 # Richardson Electronics, Ltd. 58,120 669,542 #* Riverbed Technology, Inc. 323,544 4,794,922 * Rofin-Sinar Technologies, Inc. 125,733 3,300,491 * Rogers Corp. 87,046 5,306,324 * Rosetta Stone, Inc. 125,848 1,910,373 * Rovi Corp. 295,385 4,950,653 #* Rubicon Technology, Inc. 85,425 734,655 #* Rudolph Technologies, Inc. 311,455 3,301,423 * Saba Software, Inc. 30,405 352,698 * Sanmina Corp. 465,908 6,783,620 * Sapient Corp. 872,245 13,790,193 * ScanSource, Inc. 116,630 4,485,590 #* Scientific Learning Corp. 9,751 4,826 * Seachange International, Inc. 174,773 2,480,029 * Selectica, Inc. 10,332 70,051 * Semtech Corp. 393,569 12,243,932 #* ServiceSource International, Inc. 41,537 449,430 * Sevcon, Inc. 7,783 36,969 * ShoreTel, Inc. 286,288 2,275,990 * Sigma Designs, Inc. 135,559 737,441 #* Sigmatron International, Inc. 2,200 11,792 #* Silicon Graphics International Corp. 97,637 1,246,824 * Silicon Image, Inc. 475,283 2,495,236 #* Silicon Laboratories, Inc. 230,203 9,258,765 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Information Technology -- (Continued) #* Smith Micro Software, Inc. 119,075 $ 96,451 * SMTC Corp. 18,570 36,212 #* Sonic Foundry, Inc. 10,310 102,481 #* Sonus Networks, Inc. 1,655,524 4,966,572 #* Spansion, Inc. Class A 259,060 3,100,948 #* Spark Networks, Inc. 31,952 228,776 #* Speed Commerce, Inc. 144,714 531,100 * SS&C Technologies Holdings, Inc. 124,868 4,907,312 * Stamps.com, Inc. 93,035 4,227,510 * StarTek, Inc. 50,089 313,557 * STR Holdings, Inc. 47,450 94,426 #* SunEdison, Inc. 1,202,919 11,187,147 #* SunPower Corp. 263,159 7,944,770 * Super Micro Computer, Inc. 184,661 2,570,481 Supertex, Inc. 54,643 1,393,943 * support.com, Inc. 267,856 1,194,638 #* Sykes Enterprises, Inc. 198,755 3,720,694 * Symmetricom, Inc. 329,857 2,365,075 #* Synaptics, Inc. 207,415 9,644,797 #* Synchronoss Technologies, Inc. 185,407 6,418,790 #* SYNNEX Corp. 222,496 13,639,005 Syntel, Inc. 122,280 10,496,515 #* Take-Two Interactive Software, Inc. 703,805 12,605,148 * Tech Data Corp. 102,420 5,331,985 * TeleCommunication Systems, Inc. Class A 215,454 491,235 * Telenav, Inc. 76,280 553,030 * TeleTech Holdings, Inc. 280,100 7,414,247 Tellabs, Inc. 337,136 822,612 # Tessco Technologies, Inc. 42,360 1,500,815 Tessera Technologies, Inc. 320,691 6,099,543 * TheStreet, Inc. 96,581 226,965 * TiVo, Inc. 103,689 1,378,027 Transact Technologies, Inc. 30,291 417,713 #* Travelzoo, Inc. 23,963 515,923 * Trio Tech International 3,256 10,908 #* TriQuint Semiconductor, Inc. 954,767 7,571,302 * Trulia, Inc. 14,203 567,694 TSR, Inc. 5,056 17,140 * TTM Technologies, Inc. 301,661 2,639,534 * Tyler Technologies, Inc. 169,807 16,422,035 # Ubiquiti Networks, Inc. 28,724 1,108,172 * Ultimate Software Group, Inc. 15,578 2,406,489 * Ultra Clean Holdings 88,704 825,834 * Ultratech, Inc. 142,333 3,386,102 #* Unisys Corp. 282,504 7,443,980 United Online, Inc. 593,728 5,129,810 #* Unwired Planet, Inc. 356,846 578,091 * USA Technologies, Inc. 16,830 32,145 #* UTStarcom Holdings Corp. 89,915 251,762 #* ValueClick, Inc. 438,228 8,418,360 #* Veeco Instruments, Inc. 230,694 6,738,572 #* VeriFone Systems, Inc. 126,119 2,857,857 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- -------------- Information Technology -- (Continued) * Verint Systems, Inc. 321,011 $ 11,723,322 #* ViaSat, Inc. 199,296 13,177,452 #* Viasystems Group, Inc. 110,637 1,659,555 * Vicon Industries, Inc. 14,689 43,333 #* Video Display Corp. 21,287 77,059 #* Virtusa Corp. 162,295 5,044,129 #* Vishay Intertechnology, Inc. 726,837 8,918,290 * Vishay Precision Group, Inc. 82,360 1,350,704 #* VistaPrint NV 167,091 9,031,269 * Vocus, Inc. 14,547 125,832 #* Vringo, Inc. 19,360 54,595 Wayside Technology Group, Inc. 6,327 82,884 #* Web.com Group, Inc. 237,498 6,400,571 #* WebMD Health Corp. 235,072 8,279,236 * Westell Technologies, Inc. Class A 298,909 1,073,083 #* Wireless Telecom Group, Inc. 61,160 109,476 * XO Group, Inc. 130,376 1,809,619 Xyratex, Ltd. 67,699 672,928 * Zebra Technologies Corp. Class A 284,710 13,754,340 #* Zhone Technologies, Inc. 49,121 200,414 #* Zillow, Inc. Class A 41,792 3,327,897 #* Zix Corp. 323,424 1,319,570 * Zygo Corp. 109,860 1,696,238 * Zynga, Inc. Class A 472,768 1,697,237 -------------- Total Information Technology 1,334,923,905 -------------- Materials -- (4.2%) A Schulman, Inc. 149,965 4,966,841 #* AEP Industries, Inc. 30,266 1,798,406 #* AM Castle & Co. 94,594 1,353,640 # AMCOL International Corp. 149,924 4,809,562 * American Biltrite, Inc. 62 25,118 #* American Pacific Corp. 43,627 1,985,901 # American Vanguard Corp. 140,266 3,660,943 #* Arabian American Development Co. 28,849 262,526 Axiall Corp. 169,275 6,583,105 Balchem Corp. 109,943 6,295,336 Cabot Corp. 3,579 166,817 * Calgon Carbon Corp. 307,206 6,128,760 * Century Aluminum Co. 509,068 4,418,710 Chase Corp. 28,939 875,694 * Chemtura Corp. 595,378 14,586,761 * Clearwater Paper Corp. 122,506 6,397,263 * Coeur d'Alene Mines Corp. 230,078 2,809,252 # Commercial Metals Co. 651,684 11,964,918 # Compass Minerals International, Inc. 82,238 6,124,264 #* Contango ORE, Inc. 4,405 40,526 * Continental Materials Corp. 397 6,944 * Core Molding Technologies, Inc. 46,828 505,742 # Deltic Timber Corp. 42,817 2,735,150 Detrex Corp. 500 15,875 Eagle Materials, Inc. 59,852 4,489,499 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Materials -- (Continued) #* Ferro Corp. 379,687 $ 4,871,384 # Flamemaster Corp. 189 1,961 #* Flotek Industries, Inc. 291,519 6,232,676 Friedman Industries, Inc. 27,735 275,131 FutureFuel Corp. 118,547 2,063,903 #* General Moly, Inc. 262,950 431,238 # Globe Specialty Metals, Inc. 354,852 6,224,104 # Gold Resource Corp. 2,596 13,473 #* Golden Minerals Co. 51,086 39,336 * Graphic Packaging Holding Co. 1,295,284 10,880,386 Greif, Inc. Class A 28,740 1,537,303 Greif, Inc. Class B 258 14,667 # Hawkins, Inc. 42,779 1,540,472 Haynes International, Inc. 55,333 2,982,449 # HB Fuller Co. 279,946 13,401,015 #* Headwaters, Inc. 223,629 1,952,281 # Hecla Mining Co. 1,313,198 4,097,178 #* Horsehead Holding Corp. 219,473 3,184,553 Innophos Holdings, Inc. 116,417 5,834,820 Innospec, Inc. 133,919 6,168,309 # Intrepid Potash, Inc. 186,728 2,772,911 # Kaiser Aluminum Corp. 97,607 6,583,592 KapStone Paper and Packaging Corp. 298,292 15,499,252 # KMG Chemicals, Inc. 42,573 850,609 # Koppers Holdings, Inc. 104,956 4,671,592 #* Kraton Performance Polymers, Inc. 148,545 3,159,552 # Kronos Worldwide, Inc. 67,505 1,047,003 * Landec Corp. 144,432 1,691,299 * Louisiana-Pacific Corp. 633,346 10,773,216 #* LSB Industries, Inc. 114,487 4,203,963 #* Material Sciences Corp. 232,910 2,161,405 Materion Corp. 94,775 2,825,243 #* McEwen Mining, Inc. 226,238 484,149 #* Mercer International, Inc. 157,513 1,260,104 Minerals Technologies, Inc. 194,268 11,001,397 #* Mines Management, Inc. 58,244 34,946 Myers Industries, Inc. 189,676 3,380,026 Neenah Paper, Inc. 100,144 4,119,924 # Noranda Aluminum Holding Corp. 87,899 239,085 * Northern Technologies International Corp. 17,945 305,244 # Olin Corp. 491,531 11,064,363 # Olympic Steel, Inc. 49,680 1,359,742 #* OM Group, Inc. 168,470 5,727,980 #* OMNOVA Solutions, Inc. 224,446 1,952,680 * Penford Corp. 51,627 702,127 PH Glatfelter Co. 178,891 4,686,944 PolyOne Corp. 529,913 16,056,364 # Quaker Chemical Corp. 72,986 5,540,367 * Resolute Forest Products, Inc. 23,080 369,049 #* Revett Minerals, Inc. 7,937 5,145 #* RTI International Metals, Inc. 173,155 5,869,955 # Schnitzer Steel Industries, Inc. Class A 96,182 2,793,125 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ------------ Materials -- (Continued) Schweitzer-Mauduit International, Inc. 188,122 $ 11,640,989 * Senomyx, Inc. 60,712 224,634 Sensient Technologies Corp. 295,289 15,393,416 Stepan Co. 109,687 6,457,274 #* Stillwater Mining Co. 583,481 6,365,778 * SunCoke Energy, Inc. 224,717 4,494,340 # Synalloy Corp. 15,203 244,616 #* Texas Industries, Inc. 134,779 7,237,632 Tredegar Corp. 81,691 2,387,011 Tronox, Ltd. Class A 10,668 246,324 * UFP Technologies, Inc. 3,300 76,065 * United States Lime & Minerals, Inc. 24,502 1,361,331 #* Universal Stainless & Alloy Products, Inc. 28,848 932,367 # US Silica Holdings, Inc. 18,518 644,797 # Valhi, Inc. 84,462 1,551,567 #* Verso Paper Corp. 9,552 6,830 Vulcan International Corp. 700 22,575 # Walter Energy, Inc. 823 13,078 # Wausau Paper Corp. 329,594 3,856,250 * Webco Industries, Inc. 600 62,400 Westlake Chemical Corp. 3,379 362,972 Worthington Industries, Inc. 429,704 17,420,200 # Zep, Inc. 87,214 1,734,686 * Zoltek Cos., Inc. 148,277 2,476,226 ------------ Total Materials 383,159,903 ------------ Other -- (0.0%) (d)* Allen Organ Co. Escrow Shares 800 -- (d)* Big 4 Ranch, Inc 3,200 -- (d)* Brooklyn Federal Bancorp, Inc. Escrow Shares 5,100 -- (d)* Concord Camera Corp. Escrow Shares 113,476 -- (d)* CSF Holding, Inc. Litigation Rights 3,250 -- (d)* DLB Oil & Gas, Inc. Escrow Shares 1,300 -- (d)* First Commerce Bancorp Escrow Shares 6,667 7,534 (d)* FRD Acquisition Co Escrow Shares 106,674 -- (d)#* Gerber Scientific, Inc. Escrow Shares 166,622 -- (d)* Petrocorp, Inc. Escrow Shares 6,900 414 (d)* Price Communications Liquidation Trust 159,870 -- ------------ Total Other 7,948 ------------ Real Estate Investment Trusts -- (0.1%) Geo Group, Inc. (The) 295,821 10,433,607 # Ryman Hospitality Properties 56,718 2,093,461 ------------ Total Real Estate Investment Trusts 12,527,068 ------------ Telecommunication Services -- (0.5%) #* 8x8, Inc. 147,731 1,692,997 Alaska Communications Systems Group, Inc. 75,814 186,502 # Alteva 24,398 186,645 Atlantic Tele-Network, Inc. 67,405 3,735,585 #* Boingo Wireless, Inc. 1,363 9,241 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Telecommunication Services -- (Continued) * Cbeyond, Inc. 102,864 $ 662,444 #* Cincinnati Bell, Inc. 882,853 2,524,960 # Consolidated Communications Holdings, Inc. 188,067 3,503,688 * General Communication, Inc. Class A 272,541 2,591,865 #* Hawaiian Telcom Holdco, Inc. 4,984 132,475 # HickoryTech Corp. 56,468 755,542 # IDT Corp. Class B 127,901 2,799,753 # Inteliquent, Inc. 221,953 2,852,096 #* Iridium Communications, Inc. 186,953 1,127,327 #* Leap Wireless International, Inc. 246,684 3,971,612 # Lumos Networks Corp. 86,513 1,904,151 #* NII Holdings, Inc. 1,574 5,415 # NTELOS Holdings Corp. 102,703 1,955,465 * ORBCOMM, Inc. 144,064 868,706 #* Premiere Global Services, Inc. 237,569 2,140,497 PTGi Holding, Inc. 18,211 64,103 # Shenandoah Telecommunications Co. 82,661 2,292,189 #* Straight Path Communications, Inc. Class B 56,353 307,687 # USA Mobility, Inc. 90,158 1,345,157 * Vonage Holdings Corp. 1,107,167 4,129,733 ----------- Total Telecommunication Services 41,745,835 ----------- Utilities -- (2.5%) ALLETE, Inc. 233,432 11,795,319 # American States Water Co. 216,614 6,169,167 # Artesian Resources Corp. Class A 18,254 418,017 # Atlantic Power Corp. 261,139 1,172,514 Avista Corp. 337,200 9,370,788 Black Hills Corp. 276,010 13,999,227 #* Cadiz, Inc. 14,035 72,280 California Water Service Group 279,889 6,101,580 # Chesapeake Utilities Corp. 51,296 2,791,015 Cleco Corp. 108,326 5,019,827 Connecticut Water Service, Inc. 41,880 1,342,254 # Consolidated Water Co., Ltd. 37,293 560,887 # Delta Natural Gas Co., Inc. 16,144 360,334 * Dynegy, Inc. 44,227 859,331 El Paso Electric Co. 237,868 8,365,818 Empire District Electric Co. (The) 245,738 5,526,648 Gas Natural, Inc. 18,389 183,338 #* Genie Energy, Ltd. Class B 85,424 882,430 IDACORP, Inc. 295,434 15,244,395 # Laclede Group, Inc. (The) 191,175 8,998,607 # MGE Energy, Inc. 109,540 6,168,197 # Middlesex Water Co. 77,551 1,607,632 # New Jersey Resources Corp. 225,737 10,390,674 # Northwest Natural Gas Co. 121,877 5,293,118 NorthWestern Corp. 230,935 10,586,060 # Ormat Technologies, Inc. 72,502 1,890,127 # Otter Tail Corp. 183,211 5,465,184 Piedmont Natural Gas Co., Inc. 97,751 3,337,219 PNM Resources, Inc. 454,024 10,860,254 U.S. SMALL CAP PORTFOLIO CONTINUED SHARES VALUE+ ----------- -------------- Utilities -- (Continued) Portland General Electric Co. 448,272 $ 12,865,406 RGC Resources, Inc. 6,328 117,827 # SJW Corp. 75,731 2,137,886 # South Jersey Industries, Inc. 177,516 10,571,078 Southwest Gas Corp. 275,859 14,968,109 #* Synthesis Energy Systems, Inc. 48,546 32,138 * Two Rivers Water & Farming Co. 247 220 # UIL Holdings Corp. 282,750 10,891,530 Unitil Corp. 71,893 2,172,607 UNS Energy Corp. 237,418 11,747,443 WGL Holdings, Inc. 282,405 12,711,049 # York Water Co. 52,696 1,091,334 -------------- Total Utilities 234,138,868 -------------- TOTAL COMMON STOCKS 7,426,459,931 -------------- PREFERRED STOCKS -- (0.0%) Other -- (0.0%) (d)* Enron TOPRS 8.125PCT Escrow Shares 10,595 -- -------------- RIGHTS/WARRANTS -- (0.0%) (d)* Capital Bank Corp. Contingent Value Rights 2,560 -- (d)* CVR Energy, Inc. Contingent Value Rights 328,935 -- (d)* LGL Group Inc (The) Warrants 08/06/18 35,515 3,551 (d)#* Magnum Hunter Resources Corp. Warrants 04/15/16 32,270 -- (d)* PhotoMedex, Inc. Contingent Value Warrants 12/13/14 1,607 -- (d)* Tejon Ranch Co. Warrants 8/31/16 11,426 61,129 (d)* U.S. Concrete, Inc. Warrants Class A 08/31/17 9,325 37,300 (d)* U.S. Concrete, Inc. Warrants Class B 08/31/17 9,325 33,104 -------------- TOTAL RIGHTS/WARRANTS 135,084 -------------- TEMPORARY CASH INVESTMENTS -- (0.4%) State Street Institutional Liquid Reserves, 0.073% 36,842,908 36,842,908 -------------- SHARES/ FACE AMOUNT (000) ----------- SECURITIES LENDING COLLATERAL -- (18.7%) (S)@ DFA Short Term Investment Fund 148,525,546 1,718,440,570 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $6,979,243,022) $9,181,878,493 ============== U.S. MICRO CAP PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 SHARES VALUE+ ------- ----------- COMMON STOCKS -- (84.7%) Consumer Discretionary -- (16.4%) * 1-800-Flowers.com, Inc. Class A 187,678 $ 1,019,092 #* Aeropostale, Inc. 446,616 4,149,063 * AFC Enterprises, Inc. 209,162 9,324,442 AH Belo Corp. Class A 240,620 1,934,585 * ALCO Stores, Inc. 52,342 576,809 # Ambassadors Group, Inc. 141,374 521,670 Amcon Distributing Co. 5,690 458,045 #* America's Car-Mart, Inc. 104,356 4,773,243 #* American Apparel, Inc. 102,118 136,838 #* American Public Education, Inc. 129,432 5,181,163 Arctic Cat, Inc. 122,432 6,415,437 # Ark Restaurants Corp. 36,613 776,196 * Asbury Automotive Group, Inc. 297,023 14,271,955 #* Ascent Capital Group, Inc. Class A 56,194 4,743,897 * Ballantyne Strong, Inc. 76,188 380,178 #* Barnes & Noble, Inc. 446,901 6,314,711 Bassett Furniture Industries, Inc. 89,635 1,254,890 Beasley Broadcasting Group, Inc. Class A 65,543 568,258 #* Beazer Homes USA, Inc. 126,773 2,303,465 # bebe stores, Inc. 588,725 3,550,012 Belo Corp. Class A 858,259 11,783,896 Big 5 Sporting Goods Corp. 198,369 3,751,158 * Biglari Holdings, Inc. 15,444 6,733,893 #* BJ's Restaurants, Inc. 43,797 1,185,147 #* Black Diamond, Inc. 137,350 2,047,888 #* Blue Nile, Inc. 32,239 1,324,056 # Blyth, Inc. 111,212 1,535,838 # Bob Evans Farms, Inc. 81,257 4,638,962 #* Body Central Corp. 79,968 447,821 # Bon-Ton Stores, Inc. (The) 119,763 1,371,286 #* Books-A-Million, Inc. 60,674 152,292 # Bowl America, Inc. Class A 55,406 796,461 * Boyd Gaming Corp. 39,623 418,419 * Bravo Brio Restaurant Group, Inc. 71,920 1,073,766 #* Bridgepoint Education, Inc. 54,654 1,071,218 #* Brookfield Residential Properties, Inc. 11,614 256,437 Brown Shoe Co., Inc. 382,129 8,574,975 * Build-A-Bear Workshop, Inc. 95,794 752,941 * Cache, Inc. 148,245 893,917 # Callaway Golf Co. 520,007 4,383,659 * Cambium Learning Group, Inc. 93,736 136,855 # Canterbury Park Holding Corp. 26,287 297,306 #* Capella Education Co. 63,246 3,852,946 * Career Education Corp. 11,452 62,757 * Carmike Cinemas, Inc. 149,315 3,417,820 Carriage Services, Inc. 180,474 3,625,723 * Carrols Restaurant Group, Inc. 237,046 1,374,867 # Cato Corp. (The) Class A 249,872 7,488,664 #* Cavco Industries, Inc. 56,847 3,329,529 CEC Entertainment, Inc. 143,221 6,638,293 #* Central European Media Enterprises, Ltd. Class A 7,020 21,551 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Consumer Discretionary -- (Continued) #* Charles & Colvard, Ltd. 71,131 $ 377,706 Cherokee, Inc. 83,413 1,144,426 * Children's Place Retail Stores, Inc. (The) 136,758 7,465,619 * Christopher & Banks Corp. 167,376 965,760 Churchill Downs, Inc. 116,877 10,040,903 * Citi Trends, Inc. 127,065 1,865,314 * Coast Distribution System (The) 41,382 142,561 * Cobra Electronics Corp. 47,132 137,154 #* Coldwater Creek, Inc. 105,819 105,819 # Collectors Universe 57,953 964,917 #* Conn's, Inc. 306,457 18,522,261 # Cooper Tire & Rubber Co. 282,260 7,341,583 Core-Mark Holding Co., Inc. 68,639 4,854,836 #* Corinthian Colleges, Inc. 298,276 638,311 * Crocs, Inc. 103,389 1,259,278 * Crown Media Holdings, Inc. Class A 170,294 565,376 CSS Industries, Inc. 52,438 1,357,620 Culp, Inc. 186,578 3,610,284 #* Cumulus Media, Inc. Class A 276,702 1,654,678 #* Daily Journal Corp. 200 29,588 #* dELiA*s, Inc. 7,960 10,985 * Delta Apparel, Inc. 77,201 1,459,099 Destination Maternity Corp. 103,985 3,248,491 * Destination XL Group, Inc. 279,255 1,940,822 * DGSE Cos., Inc. 8,313 20,783 #* Digital Generation, Inc. 150,496 1,903,774 DineEquity, Inc. 115,062 9,443,138 * Dixie Group, Inc. (The) 104,300 1,314,180 # Dorman Products, Inc. 311,758 15,154,556 Dover Downs Gaming & Entertainment, Inc. 142,541 215,237 Dover Motorsports, Inc. 168,371 397,356 # Drew Industries, Inc. 192,900 9,695,154 EDCI Holdings, Inc. 62,230 40,761 #* Education Management Corp. 2,999 45,885 # Educational Development Corp. 36,900 105,534 Einstein Noah Restaurant Group, Inc. 84,054 1,499,523 * ELXSI Corp. 7,100 69,580 * Emerson Radio Corp. 243,478 465,043 * Emmis Communications Corp. Class A 300,222 747,553 #* Empire Resorts, Inc. 34,819 213,789 #* Entercom Communications Corp. Class A 356,444 3,126,014 #* Entertainment Gaming Asia, Inc. 5,434 8,368 Entravision Communications Corp. Class A 971,879 6,550,464 # Escalade, Inc. 62,320 549,662 # Ethan Allen Interiors, Inc. 257,793 6,867,606 * Ever-Glory International Group, Inc. 1,379 5,930 #* EW Scripps Co. Class A 343,167 6,801,570 #* FAB Universal Corp. 1,618 10,145 #* Famous Dave's Of America, Inc. 49,507 893,601 #* Federal-Mogul Corp. 10,694 219,120 * Fiesta Restaurant Group, Inc. 220,458 9,345,215 Finish Line, Inc. (The) Class A 451,112 11,295,844 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Consumer Discretionary -- (Continued) * Flanigan's Enterprises, Inc. 20,756 $ 229,976 # Flexsteel Industries, Inc. 55,532 1,524,909 #* Francesca's Holdings Corp. 24,294 437,049 # Fred's, Inc. Class A 300,894 4,874,483 Frisch's Restaurants, Inc. 63,337 1,524,522 * Fuel Systems Solutions, Inc. 139,539 2,506,120 #* Full House Resorts, Inc. 66,136 181,874 #* G-III Apparel Group, Ltd. 177,753 10,082,150 * Gaiam, Inc. Class A 66,689 418,140 Gaming Partners International Corp. 14,659 121,670 * Geeknet, Inc. 3,079 59,055 * Gentherm, Inc. 164,390 3,838,506 Gordmans Stores, Inc. 22,024 218,038 #* Grand Canyon Education, Inc. 367,324 17,363,405 #* Gray Television, Inc. 401,075 3,389,084 * Gray Television, Inc. Class A 41,200 318,064 * Hallwood Group, Inc. (The) 2,653 25,349 * Hampshire Group, Ltd. 25,800 99,201 * Harris Interactive, Inc. 559,304 1,062,678 Harte-Hanks, Inc. 372,474 2,968,618 # Hastings Entertainment, Inc. 92,939 191,454 Haverty Furniture Cos., Inc. 147,774 4,109,595 # Haverty Furniture Cos., Inc. Class A 18,855 527,940 * Helen of Troy, Ltd. 198,122 9,256,260 * Here Media, Inc.(427105101) 9,920 99 * Here Media, Inc.(427105200) 9,920 99 #* hhgregg, Inc. 155,107 2,405,710 * Hollywood Media Corp. 1,798 3,362 # Hooker Furniture Corp. 88,584 1,399,627 * Insignia Systems, Inc. 51,150 123,783 # Interval Leisure Group, Inc. 352,501 8,555,199 #* iRobot Corp. 241,451 8,177,945 * Isle of Capri Casinos, Inc. 123,333 1,000,231 #* ITT Educational Services, Inc. 10,887 436,786 * Jaclyn, Inc. 20,127 109,189 # JAKKS Pacific, Inc. 186,066 1,198,265 Johnson Outdoors, Inc. Class A 65,549 1,798,009 Jones Group, Inc. (The) 588,029 9,137,971 #* Jos A Bank Clothiers, Inc. 21,596 1,036,176 * Journal Communications, Inc. Class A 479,602 4,004,677 * K12, Inc. 113,551 2,075,712 # KB Home 341,826 5,800,787 * Kid Brands, Inc. 184,100 256,820 * Kirkland's, Inc. 158,253 2,808,991 * Kona Grill, Inc. 65,170 894,784 Koss Corp. 115,135 575,675 #* Krispy Kreme Doughnuts, Inc. 624,760 15,156,678 La-Z-Boy, Inc. 533,688 12,317,519 * Lakeland Industries, Inc. 40,544 220,154 * Lazare Kaplan International, Inc. 81,643 137,977 #* LeapFrog Enterprises, Inc. 380,139 3,253,990 #* Learning Tree International, Inc. 162,830 467,322 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Consumer Discretionary -- (Continued) * Libbey, Inc. 114,952 $ 2,454,225 # Lifetime Brands, Inc. 111,220 1,741,705 * LIN Media LLC Class A 276,594 6,795,915 # Lincoln Educational Services Corp. 114,994 549,671 Lithia Motors, Inc. Class A 188,702 11,859,921 # Loral Space & Communications, Inc. 66,518 4,747,390 #* Luby's, Inc. 249,870 1,914,004 #* Lumber Liquidators Holdings, Inc. 109,921 12,551,879 * M/I Homes, Inc. 161,834 3,312,742 Mac-Gray Corp. 116,100 2,447,388 Marcus Corp. 202,160 2,903,018 Marine Products Corp. 335,362 3,142,342 * MarineMax, Inc. 179,345 2,641,752 * Martha Stewart Living Omnimedia Class A 174,678 447,176 # Matthews International Corp. Class A 78,432 3,184,339 #* McClatchy Co. (The) Class A 329,779 929,977 McRae Industries, Inc. Class A 8,800 210,496 #* Media General, Inc. Class A 162,689 2,372,006 * Modine Manufacturing Co. 305,435 4,068,394 * Monarch Casino & Resort, Inc. 145,340 2,457,699 # Monro Muffler Brake, Inc. 175,421 8,069,366 * Motorcar Parts of America, Inc. 78,082 1,068,162 Movado Group, Inc. 171,333 7,989,258 * MTR Gaming Group, Inc. 19,183 99,752 * Multimedia Games Holding Co., Inc. 201,197 6,540,914 NACCO Industries, Inc. Class A 37,647 2,144,750 #* Nathan's Famous, Inc. 57,075 2,929,089 National American University Holdings, Inc. 584 2,102 National CineMedia, Inc. 350,621 6,142,880 #* Nautilus, Inc. 310,782 2,473,825 #* Nevada Gold & Casinos, Inc. 352 370 * New York & Co., Inc. 639,617 3,274,839 # Nexstar Broadcasting Group, Inc. Class A 152,938 6,788,918 * Nobility Homes, Inc. 43,800 405,150 * NTN Buzztime, Inc. 55,566 27,783 # Nutrisystem, Inc. 123,028 2,312,926 #* Office Depot, Inc. 1,820,979 10,179,273 OfficeMax, Inc. 352,816 5,285,184 * Orbitz Worldwide, Inc. 439,376 4,059,834 * Overstock.com, Inc. 53,886 1,262,549 # Oxford Industries, Inc. 151,043 10,840,356 * P&F Industries, Inc. Class A 6,745 52,071 #* Pacific Sunwear of California, Inc. 306,922 825,620 # Papa John's International, Inc. 207,021 15,665,279 #* Pep Boys-Manny Moe & Jack (The) 411,889 5,329,844 * Perfumania Holdings, Inc. 56,683 263,576 Perry Ellis International, Inc. 114,292 2,172,691 # PetMed Express, Inc. 225,462 3,345,856 #* Pinnacle Entertainment, Inc. 540,950 12,658,230 * Point.360 40,187 31,105 #* Premier Exhibitions, Inc. 2,033 2,724 * QEP Co., Inc. 33,487 661,368 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Consumer Discretionary -- (Continued) #* Quantum Fuel Systems Technologies Worldwide, Inc. 5,656 $ 26,979 #* Quiksilver, Inc. 1,457,888 12,129,628 #* Radio One, Inc. Class D 320,517 961,551 #* RadioShack Corp. 98,335 276,321 * ReachLocal, Inc. 1,128 13,863 #* Reading International, Inc. Class A 136,980 906,808 #* Reading International, Inc. Class B 11,620 97,434 * Red Lion Hotels Corp. 168,908 1,016,826 #* Red Robin Gourmet Burgers, Inc. 144,159 10,982,033 # Regis Corp. 357,250 5,180,125 #* Rentrak Corp. 68,923 2,583,923 RG Barry Corp. 127,405 2,430,887 #* Rick's Cabaret International, Inc. 50,561 570,834 Rocky Brands, Inc. 50,860 771,038 * Ruby Tuesday, Inc. 462,369 2,741,848 Ruth's Hospitality Group, Inc. 306,191 3,732,468 Saga Communications, Inc. Class A 51,988 2,475,149 Salem Communications Corp. Class A 170,151 1,405,447 # Scholastic Corp. 700 20,083 * Scientific Games Corp. Class A 650,894 11,898,342 #* Select Comfort Corp. 54,479 998,055 * SHFL Entertainment, Inc. 436,741 10,123,656 Shiloh Industries, Inc. 145,006 2,380,999 # Shoe Carnival, Inc. 155,905 4,051,971 #* Shutterfly, Inc. 42,134 2,070,465 # Sinclair Broadcast Group, Inc. Class A 401,740 12,879,784 * Skechers U.S.A., Inc. Class A 277,469 8,085,447 #* Skullcandy, Inc. 56,532 355,021 #* Skyline Corp. 74,294 324,665 #* Smith & Wesson Holding Corp. 4,614 49,739 # Sonic Automotive, Inc. Class A 355,207 7,914,012 * Sonic Corp. 535,081 10,327,063 * Spanish Broadcasting System, Inc. Class A 36,748 145,522 # Spartan Motors, Inc. 164,385 1,116,174 * Spectrum Group International, Inc. 278,633 495,967 Speedway Motorsports, Inc. 222,650 4,065,589 * Sport Chalet, Inc. Class A 108,430 124,695 * Sport Chalet, Inc. Class B 15,525 20,105 * Sports Club, Inc. 125,584 288,843 * Spy, Inc. 13,301 15,961 # Stage Stores, Inc. 327,913 6,771,403 # Standard Motor Products, Inc. 244,862 8,854,210 * Stanley Furniture Co., Inc. 43,669 169,872 # Stein Mart, Inc. 262,718 3,880,345 * Steiner Leisure, Ltd. 99,037 5,548,053 Stewart Enterprises, Inc. Class A 530,731 7,010,957 * Stoneridge, Inc. 233,371 2,977,814 Strattec Security Corp. 30,152 1,221,759 Strayer Education, Inc. 3,111 122,978 # Sturm Ruger & Co., Inc. 185,803 12,153,374 Superior Industries International, Inc. 242,491 4,546,706 Superior Uniform Group, Inc. 55,873 843,682 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ------------ Consumer Discretionary -- (Continued) Systemax, Inc. 342,269 $ 3,251,555 #* Tandy Leather Factory, Inc. 72,155 598,887 #* Tile Shop Holdings, Inc. 30,758 686,826 * Tower International, Inc. 10,468 222,131 Town Sports International Holdings, Inc. 186,714 2,412,345 Trans World Entertainment Corp. 218,126 944,486 * Trinity Place Holdings, Inc. 143,600 725,180 #* Tuesday Morning Corp. 372,296 5,267,988 * Unifi, Inc. 163,468 3,986,985 * Universal Electronics, Inc. 138,450 5,387,089 # Universal Technical Institute, Inc. 221,265 2,940,612 #* UQM Technologies, Inc. 123,866 191,992 #* US Auto Parts Network, Inc. 62,898 111,958 # Valassis Communications, Inc. 319,953 8,753,914 # Value Line, Inc. 80,059 746,950 * Valuevision Media, Inc. Class A 383,710 2,049,011 #* Vera Bradley, Inc. 150,832 3,340,929 #* Vitacost.com, Inc. 21,671 171,418 * Vitamin Shoppe, Inc. 4,700 220,477 #* VOXX International Corp. 166,452 2,581,671 * Wells-Gardner Electronics Corp. 104,895 176,224 * West Marine, Inc. 178,586 2,180,535 #* Wet Seal, Inc. (The) Class A 741,786 2,455,312 Weyco Group, Inc. 115,036 3,304,984 # Winmark Corp. 54,688 4,003,708 #* Winnebago Industries, Inc. 118,759 3,522,392 # World Wrestling Entertainment, Inc. Class A 129,366 1,675,290 #* Xanadoo Co. Class A 566 113,200 #* Zagg, Inc. 71,649 339,616 * Zale Corp. 251,292 3,927,694 #* Zumiez, Inc. 239,974 7,112,829 ------------ Total Consumer Discretionary 904,683,087 ------------ Consumer Staples -- (3.7%) # Alico, Inc. 68,700 2,745,252 * Alliance One International, Inc. 868,655 2,579,905 Andersons, Inc. (The) 165,272 12,259,877 # Arden Group, Inc. Class A 16,698 2,170,740 #* Boulder Brands, Inc. 447,160 7,328,952 Bridgford Foods Corp. 72,953 736,096 # Cal-Maine Foods, Inc. 202,997 10,298,038 # Calavo Growers, Inc. 119,164 3,537,979 CCA Industries, Inc. 35,363 109,272 #* Central Garden and Pet Co. 75,174 570,571 #* Central Garden and Pet Co. Class A 308,338 2,269,368 * Chefs' Warehouse, Inc. (The) 5,509 131,996 * Chiquita Brands International, Inc. 337,368 3,491,759 Coca-Cola Bottling Co. Consolidated 72,153 4,568,728 # Coffee Holding Co., Inc. 14,908 79,609 * Craft Brew Alliance, Inc. 80,382 1,303,796 #* Dole Food Co., Inc. 166,493 2,255,980 #* Elizabeth Arden, Inc. 246,915 8,935,854 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ------------ Consumer Staples -- (Continued) * Farmer Bros Co. 88,007 $ 1,589,406 * Glacier Water Services, Inc. 24,500 505,313 Golden Enterprises, Inc. 99,219 415,728 # Griffin Land & Nurseries, Inc. 48,979 1,616,307 #* Harbinger Group, Inc. 76,397 831,963 #* IGI Laboratories, Inc. 30,339 66,442 # Ingles Markets, Inc. Class A 103,028 2,659,153 # Inter Parfums, Inc. 271,686 9,552,480 #* Inventure Foods, Inc. 21,811 245,592 # J&J Snack Foods Corp. 176,874 15,135,108 John B Sanfilippo & Son, Inc. 72,033 1,770,571 # Lifeway Foods, Inc. 152,175 2,226,320 # Limoneira Co. 413 10,878 * Mannatech, Inc. 8,629 203,558 #* Medifast, Inc. 114,405 2,666,781 # MGP Ingredients, Inc. 109,514 579,329 Nash Finch Co. 119,091 3,341,693 National Beverage Corp. 399,613 7,316,914 * Natural Alternatives International, Inc. 70,731 432,166 # Nature's Sunshine Products, Inc. 153,100 2,892,059 Nutraceutical International Corp. 60,166 1,446,992 # Oil-Dri Corp. of America 58,075 2,061,082 * Omega Protein Corp. 138,680 1,298,045 # Orchids Paper Products Co. 52,668 1,606,374 * Pantry, Inc. (The) 117,736 1,576,485 #* Pizza Inn Holdings, Inc. 39,700 325,143 * Post Holdings, Inc. 22,795 979,045 * Prestige Brands Holdings, Inc. 356,410 11,130,684 # Reliv International, Inc. 102,054 258,197 * Revlon, Inc. Class A 379,324 9,008,945 Rocky Mountain Chocolate Factory, Inc. 71,953 912,364 # Sanderson Farms, Inc. 49,232 3,111,955 #* Scheid Vineyards, Inc. Class A 2,900 71,050 Scope Industries 8,083 2,247,074 * Seneca Foods Corp. Class A 33,144 971,782 * Seneca Foods Corp. Class B 11,120 328,040 Spartan Stores, Inc. 210,856 4,961,442 #* Susser Holdings Corp. 220,255 12,078,784 * Tofutti Brands, Inc. 53,404 149,531 United-Guardian, Inc. 40,096 1,010,820 # Universal Corp. 88,344 4,684,882 #* USANA Health Sciences, Inc. 146,315 9,983,072 # Village Super Market, Inc. Class A 69,464 2,546,550 # WD-40 Co. 150,379 10,900,974 ------------ Total Consumer Staples 203,080,845 ------------ Energy -- (4.4%) #* Abraxas Petroleum Corp. 486,100 1,404,829 Adams Resources & Energy, Inc. 38,954 2,016,649 # Alon USA Energy, Inc. 232,609 2,809,917 #* Alpha Natural Resources, Inc. 82,036 574,252 AMEN Properties, Inc. 123 71,648 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Energy -- (Continued) #* Amyris, Inc. 15,469 $ 38,982 #* Approach Resources, Inc. 214,461 6,037,077 #* Barnwell Industries, Inc. 68,834 244,361 #* Basic Energy Services, Inc. 281,697 4,132,495 #* Bill Barrett Corp. 136,232 3,769,539 * Black Ridge Oil and Gas, Inc. 73,707 47,910 Bolt Technology Corp. 77,310 1,383,076 #* BPZ Resources, Inc. 798,903 1,605,795 #* C&J Energy Services, Inc. 154,337 3,555,924 #* Cal Dive International, Inc. 198,003 390,066 * Callon Petroleum Co. 267,919 1,829,887 #* Carrizo Oil & Gas, Inc. 247,544 10,852,329 * Cheniere Energy, Inc. 39,020 1,552,996 * Clayton Williams Energy, Inc. 109,912 8,554,451 #* Clean Energy Fuels Corp. 322,774 3,676,396 * Cloud Peak Energy, Inc. 75,566 1,179,585 # Comstock Resources, Inc. 348,901 5,969,696 Contango Oil & Gas Co. 104,319 4,470,062 Crosstex Energy, Inc. 478,837 14,695,508 * Dawson Geophysical Co. 66,521 1,945,074 Delek US Holdings, Inc. 39,051 997,753 # DHT Holdings, Inc. 41,366 212,208 * Double Eagle Petroleum Co. 58,194 161,779 * Emerald Oil, Inc. 221,022 1,922,891 #* Endeavour International Corp. 208,012 1,235,591 * ENGlobal Corp. 238,421 262,263 * EPL Oil & Gas, Inc. 305,393 9,735,929 * Era Group, Inc. 3,213 101,531 * Evolution Petroleum Corp. 25,725 310,243 #* FieldPoint Petroleum Corp. 49,014 235,267 #* Forest Oil Corp. 130,858 620,267 #* FX Energy, Inc. 18,405 64,049 * Gastar Exploration, Ltd. 55,994 241,894 #* Geospace Technologies Corp. 44,580 4,342,984 #* Gevo, Inc. 24,840 42,228 #* Global Geophysical Services, Inc. 383,587 916,773 #* Goodrich Petroleum Corp. 71,912 1,682,022 # Green Plains Renewable Energy, Inc. 208,710 3,366,492 Gulf Island Fabrication, Inc. 111,497 2,811,954 Gulfmark Offshore, Inc. Class A 89,675 4,464,021 #* Harvest Natural Resources, Inc. 283,514 1,417,570 * Hercules Offshore, Inc. 1,228,317 8,352,556 * HKN, Inc. 1,132 84,334 #* Houston American Energy Corp. 108,288 28,155 #* ION Geophysical Corp. 975,643 4,526,984 #* James River Coal Co. 185,050 355,296 * Key Energy Services, Inc. 180,707 1,413,129 #* Lucas Energy, Inc. 87,333 96,940 #* Magnum Hunter Resources Corp. 821,122 5,854,600 * Matador Resources Co. 114,352 2,105,220 * Matrix Service Co. 213,615 4,441,056 * Mexco Energy Corp. 7,388 48,539 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ --------- ------------ Energy -- (Continued) #* Miller Energy Resources, Inc. 32,669 $ 220,842 * Mitcham Industries, Inc. 79,611 1,324,727 * Natural Gas Services Group, Inc. 61,586 1,723,792 #* Newpark Resources, Inc. 826,493 10,537,786 # Nordic American Tankers, Ltd. 69,849 569,968 #* Northern Oil and Gas, Inc. 94,614 1,554,508 #* Nuverra Environmental Solutions, Inc. 1,361,226 3,321,391 #* Overseas Shipholding Group, Inc. 18,861 65,070 #* Pacific Ethanol, Inc. 31 113 # Panhandle Oil and Gas, Inc. Class A 55,720 1,870,520 * Parker Drilling Co. 838,716 6,038,755 * PDC Energy, Inc. 148,470 10,067,751 #* Penn Virginia Corp. 343,122 2,919,968 #* PetroQuest Energy, Inc. 370,225 1,747,462 #* PHI, Inc.(69336T106) 9,745 366,607 #* PHI, Inc.(69336T205) 113,759 4,529,883 #* Pioneer Energy Services Corp. 448,054 3,763,654 * PostRock Energy Corp. 23,194 33,863 #* Pyramid Oil Co. 22,699 120,305 #* Renewable Energy Group, Inc. 64,973 708,855 # Rentech, Inc. 942,422 1,611,542 * REX American Resources Corp. 149,235 4,303,937 #* Rex Energy Corp. 559,372 12,026,498 #* RigNet, Inc. 6,987 257,541 #* Royale Energy, Inc. 45,629 122,742 #* Sanchez Energy Corp. 1,127 32,131 #* Saratoga Resources, Inc. 2,046 4,972 * Steel Excel, Inc. 73,655 2,043,926 #* Swift Energy Co. 59,034 809,946 #* Synergy Resources Corp. 261,064 2,704,623 #* Syntroleum Corp. 44,574 182,308 * Tesco Corp. 92,226 1,584,443 #* TETRA Technologies, Inc. 528,046 6,848,757 TGC Industries, Inc. 110,887 817,237 * Triangle Petroleum Corp. 342,881 3,624,252 #* Uranium Energy Corp. 123,123 216,696 #* US Energy Corp. Wyoming 71,870 209,142 #* USEC, Inc. 21,921 176,683 #* Vaalco Energy, Inc. 486,671 2,564,756 # W&T Offshore, Inc. 36,611 698,904 * Warren Resources, Inc. 372,497 1,165,916 * Westmoreland Coal Co. 22,096 313,984 * Willbros Group, Inc. 315,497 3,079,251 #* Zion Oil & Gas, Inc. 5,765 9,455 ------------ Total Energy 242,156,484 ------------ Financials -- (14.8%) * 1st Constitution Bancorp 16,306 164,691 1st Source Corp. 194,458 6,102,092 1st United Bancorp Inc/Boca Raton 33,715 257,583 # Access National Corp. 59,660 866,860 Alliance Bancorp, Inc. of Pennsylvania 13,199 191,386 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Financials -- (Continued) * Altisource Asset Management Corp. 9,319 $ 5,961,178 # Ameriana Bancorp 20,650 279,601 # American Equity Investment Life Holding Co. 484,311 10,093,041 * American Independence Corp. 3,596 39,844 # American National Bankshares, Inc. 54,265 1,244,839 * American River Bankshares 17,421 151,214 #* American Spectrum Realty, Inc. 12,048 24,698 * Ameris Bancorp 130,162 2,381,965 # AMERISAFE, Inc. 135,500 5,216,750 # AmeriServ Financial, Inc. 189,054 593,630 Argo Group International Holdings, Ltd. 55,866 2,345,255 # Arrow Financial Corp. 120,836 3,118,777 ASB Financial Corp. 4,400 60,632 Asta Funding, Inc. 23,298 199,897 Astoria Financial Corp. 276,605 3,653,952 Atlantic American Corp. 7,131 28,881 * Atlantic Coast Financial Corp. 738 2,878 #* Atlanticus Holdings Corp. 140,864 491,615 # Auburn National BanCorp., Inc. 11,571 296,218 * AV Homes, Inc. 80,688 1,541,141 Baldwin & Lyons, Inc. Class A 3,548 95,317 Baldwin & Lyons, Inc. Class B 91,316 2,495,666 # Banc of California, Inc. 31,589 445,721 Bancfirst Corp. 120,279 6,683,904 Bancorp of New Jersey, Inc. 1,246 16,759 * Bancorp, Inc. 205,325 3,320,105 Bank Mutual Corp. 167,611 1,066,006 Bank of Commerce Holdings 19,956 109,758 Bank of Kentucky Financial Corp. 27,880 803,223 # Bank of the Ozarks, Inc. 204,225 10,105,053 BankFinancial Corp. 211,876 1,968,328 # Banner Corp. 156,681 5,994,615 # Bar Harbor Bankshares 27,028 1,020,037 BBCN Bancorp, Inc. 640,689 9,501,418 * BBX Capital Corp. Class A 43,192 569,702 # BCB Bancorp, Inc. 54,608 603,964 * BCSB Bancorp, Inc. 10,495 267,098 * Beneficial Mutual Bancorp, Inc. 101,666 991,244 # Berkshire Bancorp, Inc. 10,471 80,836 Berkshire Hills Bancorp, Inc. 143,004 3,628,011 * BFC Financial Corp. Class A 75,991 180,859 BGC Partners, Inc. Class A 233,927 1,244,492 * BNCCORP, Inc. 12,585 171,156 #* BofI Holding, Inc. 91,936 5,554,773 # Boston Private Financial Holdings, Inc. 643,902 7,334,044 Bridge Bancorp, Inc. 38,336 885,178 #* Bridge Capital Holdings 44,193 777,355 Brookline Bancorp, Inc. 624,531 5,539,590 #* Brunswick Bancorp 120 605 Bryn Mawr Bank Corp. 100,636 2,803,719 C&F Financial Corp. 13,632 734,901 # Calamos Asset Management, Inc. Class A 132,282 1,299,009 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Financials -- (Continued) # California First National Bancorp 81,133 $1,448,224 * Camco Financial Corp. 26,162 162,204 Camden National Corp. 77,363 3,121,597 # Cape Bancorp, Inc. 4,774 43,969 * Capital Bank Financial Corp. Class A 11,999 266,618 #* Capital City Bank Group, Inc. 150,073 1,845,898 (d) Capital Properties, Inc., 5.000% 9,939 9,939 Capital Properties, Inc. Class A 11,044 88,352 Capital Southwest Corp. 60,752 1,996,918 # Cardinal Financial Corp. 261,871 4,320,871 * Carolina Bank Holdings, Inc. 4,335 43,740 #* Carver Bancorp, Inc. 300 1,812 # Cash America International, Inc. 4,776 188,413 Center Bancorp, Inc. 143,604 2,148,316 Centerstate Banks, Inc. 46,202 455,552 # Central Pacific Financial Corp. 73,575 1,355,252 Century Bancorp, Inc. Class A 18,900 614,250 CFS Bancorp, Inc. 101,373 1,266,149 Charter Financial Corp. 935 10,135 Chemical Financial Corp. 234,726 6,875,125 Chicopee Bancorp, Inc. 26,112 458,266 Citizens Community Bancorp, Inc. 4,432 33,816 * Citizens First Corp. 1,442 12,762 # Citizens Holding Co. 9,925 189,766 #* Citizens, Inc. 389,673 3,273,253 # City Holding Co. 161,264 7,337,512 # CKX Lands, Inc. 14,943 215,179 # Clifton Savings Bancorp, Inc. 55,328 698,793 # CNB Financial Corp. 53,880 1,078,139 # CoBiz Financial, Inc. 212,258 2,302,999 Codorus Valley Bancorp, Inc. 10,901 228,923 * Colonial Financial Services, Inc. 7,831 109,634 #* Colony Bankcorp, Inc. 37,943 232,211 Columbia Banking System, Inc. 305,338 7,844,133 Commercial National Financial Corp. 10,640 223,440 # Community Bank System, Inc. 261,062 9,479,161 #* Community Bankers Trust Corp. 2,000 7,460 # Community Trust Bancorp, Inc. 137,659 5,862,897 * Community West Bancshares 12,713 74,689 * CommunityOne Bancorp. 216 2,324 # Consolidated-Tomoka Land Co. 52,947 1,986,571 * Consumer Portfolio Services, Inc. 51,070 343,190 * Cowen Group, Inc. Class A 266,287 1,057,159 # Crawford & Co. Class A 282,945 2,356,932 # Crawford & Co. Class B 145,019 1,593,759 #* Customers Bancorp, Inc. 4,684 78,457 # CVB Financial Corp. 272,789 3,966,352 * DFC Global Corp. 306,846 3,712,837 * DGT Holdings Corp. 12,563 195,669 # Diamond Hill Investment Group, Inc. 710 78,292 Dime Community Bancshares, Inc. 342,201 5,598,408 Donegal Group, Inc. Class A 169,997 2,694,452 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Financials -- (Continued) # Donegal Group, Inc. Class B 34,951 $ 733,971 #* Doral Financial Corp. 4,060 68,614 Eagle Bancorp Montana, Inc. 578 6,341 # Eastern Insurance Holdings, Inc. 32,371 791,147 * Eastern Virginia Bankshares, Inc. 8,084 48,747 #* eHealth, Inc. 138,920 5,920,770 EMC Insurance Group, Inc. 116,209 3,955,754 Employers Holdings, Inc. 247,858 7,453,090 #* Encore Capital Group, Inc. 260,253 12,713,359 # Enterprise Bancorp, Inc. 36,296 709,224 Enterprise Financial Services Corp. 59,274 1,068,710 # ESB Financial Corp. 161,234 2,146,025 ESSA Bancorp, Inc. 63,434 695,237 Evans Bancorp, Inc. 11,667 235,965 * Ezcorp, Inc. Class A 18,487 290,801 #* Farmers Capital Bank Corp. 23,827 489,407 FBL Financial Group, Inc. Class A 271,726 12,157,021 # Federal Agricultural Mortgage Corp. Class A 4,200 122,955 Federal Agricultural Mortgage Corp. Class C 79,325 2,831,109 Federated National Holding Co. Class C 74,234 760,899 # Fidelity Southern Corp. 95,770 1,462,405 Financial Institutions, Inc. 71,404 1,690,133 * First Acceptance Corp. 45,747 77,770 #* First BanCorp 145,966 810,111 First Bancorp 142,584 2,135,908 First Bancorp of Indiana, Inc. 1,400 19,320 # First Bancorp, Inc. 74,352 1,294,468 * First Bancshares, Inc.(318687100) 5,228 44,438 First Bancshares, Inc.(318916103) 4,544 67,478 # First Busey Corp. 475,006 2,455,781 # First Business Financial Services, Inc. 6,622 233,227 # First Commonwealth Financial Corp. 695,518 6,044,051 First Community Bancshares, Inc. 109,970 1,835,399 # First Connecticut Bancorp Inc/Farmington 14,915 218,952 First Defiance Financial Corp. 69,440 1,792,941 #* First Federal Bancshares of Arkansas, Inc. 45,474 408,357 First Federal of Northern Michigan Bancorp, Inc. 13,700 64,938 First Financial Bancorp 315,278 4,893,115 # First Financial Bankshares, Inc. 16,191 995,908 # First Financial Corp. 122,228 4,221,755 First Financial Holdings, Inc. 138,403 8,294,492 # First Financial Northwest, Inc. 43,468 471,193 * First Financial Service Corp. 18,814 93,317 First Interstate Bancsystem, Inc. 76,595 1,923,300 #* First Marblehead Corp. (The) 49,478 47,499 First Merchants Corp. 179,005 3,365,294 First Midwest Bancorp, Inc. 452,562 7,526,106 * First Place Financial Corp. 153,683 307 * First South Bancorp, Inc. 59,381 401,416 * First United Corp. 31,308 256,726 First West Virginia Bancorp 1,187 19,455 Firstbank Corp. 35,127 688,138 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Financials -- (Continued) #* Flagstar Bancorp, Inc. 103,425 $ 1,676,519 Flushing Financial Corp. 218,227 4,384,180 * Forestar Group, Inc. 275,787 6,158,324 * Fortegra Financial Corp. 705 5,196 Fox Chase Bancorp, Inc. 59,633 1,029,862 Franklin Financial Corp. 5,320 100,388 # FXCM, Inc. Class A 174,943 2,867,316 # Gain Capital Holdings, Inc. 14,058 147,187 # German American Bancorp, Inc. 65,691 1,785,481 GFI Group, Inc. 523,274 1,815,761 # Glacier Bancorp, Inc. 291,356 8,050,166 #* Gleacher & Co., Inc. 9,104 119,991 * Global Indemnity P.L.C. 56,451 1,390,388 Gouverneur Bancorp, Inc. 4,366 44,795 # Great Southern Bancorp, Inc. 82,919 2,328,366 #* Green Dot Corp. Class A 162,283 3,482,593 #* Greenlight Capital Re, Ltd. Class A 206,415 6,355,518 Guaranty Bancorp 44,041 594,554 #* Guaranty Federal Bancshares, Inc. 17,335 195,279 * Hallmark Financial Services, Inc. 105,299 896,094 # Hampden Bancorp, Inc. 3,433 59,048 * Hampton Roads Bankshares, Inc. 8,405 11,851 Hanmi Financial Corp. 194,981 3,408,268 Harleysville Savings Financial Corp. 12,400 227,540 #* Harris & Harris Group, Inc. 153,619 480,827 Hawthorn Bancshares, Inc. 5,957 82,266 # HCI Group, Inc. 97,252 4,273,253 # Heartland Financial USA, Inc. 133,135 3,526,746 Heritage Commerce Corp. 95,601 744,732 # Heritage Financial Corp. 71,379 1,151,343 Heritage Financial Group, Inc. 16,112 276,804 HF Financial Corp. 34,791 463,764 HFF, Inc. Class A 199,247 4,891,514 * Hilltop Holdings, Inc. 411,361 7,133,000 # Hingham Institution for Savings 14,511 1,055,240 * HMN Financial, Inc. 37,346 321,549 * Home Bancorp, Inc. 4,852 88,161 # Home BancShares, Inc. 359,132 12,167,392 Home Federal Bancorp, Inc. 64,285 1,002,203 HopFed Bancorp, Inc. 18,198 197,448 Horace Mann Educators Corp. 423,287 11,725,050 # Horizon Bancorp 35,007 760,002 # Hudson Valley Holding Corp. 19,709 364,419 * ICG Group, Inc. 363,600 5,930,316 # Independence Holding Co. 69,208 949,534 # Independent Bank Corp.(453836108) 167,897 6,024,144 * Independent Bank Corp.(453838609) 34,130 331,744 Infinity Property & Casualty Corp. 134,624 9,232,514 Interactive Brokers Group, Inc. Class A 429,407 8,858,666 #* InterGroup Corp. (The) 6,500 129,350 * Intervest Bancshares Corp. Class A 6,118 44,600 #* INTL. FCStone, Inc. 92,288 1,888,212 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ --------- ---------- Financials -- (Continued) * Investment Technology Group, Inc. 179,808 $2,880,524 * Investors Capital Holdings, Ltd. 4,238 29,836 # Investors Title Co. 21,301 1,664,460 * Jacksonville Bancorp, Inc. 259 2,661 * Jefferson Bancshares, Inc. 6,356 40,361 JMP Group, Inc. 80,935 518,793 #* JW Mays, Inc. 2,700 75,600 #* Kearny Financial Corp. 31,532 331,086 # Kennedy-Wilson Holdings, Inc. 346,153 6,936,906 # Kentucky First Federal Bancorp 38,012 307,517 Lake Shore Bancorp, Inc. 3,521 42,428 # Lakeland Bancorp, Inc. 214,574 2,446,144 Lakeland Financial Corp. 104,707 3,726,522 Landmark Bancorp, Inc. 13,442 270,319 Life Partners Holdings, Inc. 108,784 219,744 LNB Bancorp, Inc. 58,795 572,075 #* Louisiana Bancorp, Inc. 1,237 22,136 LSB Financial Corp. 2,914 83,078 * Macatawa Bank Corp. 202,123 992,424 * Magyar Bancorp, Inc. 15,818 115,867 Maiden Holdings, Ltd. 266,556 2,918,788 MainSource Financial Group, Inc. 134,470 2,181,103 #* Malvern Bancorp, Inc. 8,513 103,433 Manning & Napier, Inc. 3,537 58,714 # MarketAxess Holdings, Inc. 21,919 1,429,776 Marlin Business Services Corp. 66,856 1,843,220 #* Maui Land & Pineapple Co., Inc. 49,270 209,890 Mayflower Bancorp, Inc. 3,884 75,505 MB Financial, Inc. 47,419 1,408,344 * MBT Financial Corp. 1,763 6,770 # MCG Capital Corp. 583,022 2,746,034 # Meadowbrook Insurance Group, Inc. 449,558 2,985,065 # Medallion Financial Corp. 164,751 2,500,920 Mercantile Bank Corp. 13,591 296,827 Merchants Bancshares, Inc. 62,187 1,864,366 #* Meridian Interstate Bancorp, Inc. 49,951 1,185,837 Meta Financial Group, Inc. 26,275 977,956 * Metro Bancorp, Inc. 126,758 2,705,016 MetroCorp Bancshares, Inc. 76,185 1,091,731 #* MGIC Investment Corp. 1,035,784 8,431,282 MicroFinancial, Inc. 83,043 713,339 Mid Penn Bancorp, Inc. 7,759 93,651 # MidSouth Bancorp, Inc. 57,131 867,249 MidWestOne Financial Group, Inc. 15,535 410,435 * MSB Financial Corp. 2,696 20,490 MutualFirst Financial, Inc. 39,230 666,910 # National Interstate Corp. 59,495 1,554,604 National Security Group, Inc. 12,602 81,283 National Western Life Insurance Co. Class A 11,821 2,458,768 #* Naugatuck Valley Financial Corp. 7,309 54,014 * Navigators Group, Inc. (The) 83,112 4,674,219 # NBT Bancorp, Inc. 289,033 7,043,734 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Financials -- (Continued) Nelnet, Inc. Class A 18,233 $ 777,273 * New Century Bancorp, Inc. 9,127 60,329 # New Hampshire Thrift Bancshares, Inc. 21,740 308,708 * NewBridge Bancorp 136,882 1,021,140 * NewStar Financial, Inc. 192,358 3,348,953 Nicholas Financial, Inc. 41,301 662,881 * North Valley Bancorp 5,029 95,048 Northeast Bancorp 4,362 43,664 Northeast Community Bancorp, Inc. 24,952 188,388 Northfield Bancorp, Inc. 219,294 2,835,471 Northrim BanCorp, Inc. 44,423 1,115,017 Northway Financial, Inc. 1,076 17,754 Northwest Bancshares, Inc. 181,726 2,542,347 # Norwood Financial Corp. 10,591 304,385 # Ocean Shore Holding Co. 20,561 293,405 OceanFirst Financial Corp. 117,015 2,058,294 OFG Bancorp 293,140 4,341,403 Ohio Valley Banc Corp. 16,910 347,331 # Old Line Bancshares, Inc. 22,285 297,282 # Old National Bancorp 155,239 2,257,175 #* Old Second Bancorp, Inc. 120,505 574,809 * OmniAmerican Bancorp, Inc. 88,259 1,934,637 # Oppenheimer Holdings, Inc. Class A 14,513 287,793 Oritani Financial Corp. 361,456 5,862,816 Pacific Continental Corp. 89,837 1,237,954 * Pacific Mercantile Bancorp 6,384 39,708 #* Pacific Premier Bancorp, Inc. 63,627 885,052 # PacWest Bancorp 283,900 10,802,395 Park National Corp. 35,882 2,842,572 Park Sterling Corp. 250,018 1,627,617 #* Patriot National Bancorp, Inc. 2,900 3,509 # Peapack Gladstone Financial Corp. 85,161 1,561,853 Penns Woods Bancorp, Inc. 36,321 1,859,635 # Peoples Bancorp of North Carolina, Inc. 15,956 208,864 Peoples Bancorp, Inc. 94,701 2,123,196 Peoples Bancorp/Auburn 3,331 78,845 #* PHH Corp. 186,338 4,481,429 #* Phoenix Cos., Inc. (The) 48,205 1,859,267 * PICO Holdings, Inc. 176,508 4,144,408 #* Pinnacle Financial Partners, Inc. 271,020 8,401,620 #* Piper Jaffray Cos. 4,037 144,888 #* Porter Bancorp, Inc. 16,256 18,207 * Preferred Bank 60,108 1,155,276 Premier Financial Bancorp, Inc. 27,910 335,478 * Primus Guaranty, Ltd. 23,720 239,572 PrivateBancorp, Inc. 46,664 1,136,735 # Provident Financial Holdings, Inc. 71,034 1,076,875 Provident Financial Services, Inc. 121,248 2,272,188 * Prudential Bancorp, Inc. 25,035 270,633 * PSB Holdings, Inc. 1,113 6,945 # Pulaski Financial Corp. 85,066 926,369 # Pzena Investment Management, Inc. Class A 19,143 137,638 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Financials -- (Continued) QC Holdings, Inc. 171,139 $ 402,177 # QCR Holdings, Inc. 100 1,736 # Radian Group, Inc. 419,555 6,112,916 # Renasant Corp. 162,773 4,668,330 # Republic Bancorp, Inc. Class A 199,097 4,583,213 * Republic First Bancorp, Inc. 74,245 233,872 Resource America, Inc. Class A 171,132 1,476,869 * Riverview Bancorp, Inc. 102,676 273,118 # Rockville Financial, Inc. 148,815 1,956,917 #* Roma Financial Corp. 85,065 1,655,365 * Royal Bancshares of Pennsylvania, Inc. Class A 13,305 20,357 # S&T Bancorp, Inc. 211,609 5,188,653 #* Safeguard Scientifics, Inc. 196,766 3,433,567 # Safety Insurance Group, Inc. 83,691 4,577,061 Salisbury Bancorp, Inc. 7,752 203,296 Sandy Spring Bancorp, Inc. 118,497 2,901,992 SB Financial Group, Inc. 2,810 22,902 #* Seacoast Banking Corp. of Florida 118,775 270,807 #* Security National Financial Corp. Class A 22,097 129,709 Selective Insurance Group, Inc. 150,856 3,962,987 * Shore Bancshares, Inc. 36,541 334,350 SI Financial Group, Inc. 11,406 129,230 #* Siebert Financial Corp. 13,141 21,551 Sierra Bancorp 88,637 1,677,898 # Simmons First National Corp. Class A 138,927 4,548,470 Simplicity Bancorp, Inc. 21,206 332,510 * South Street Financial Corp. 2,945 18,406 * Southcoast Financial Corp. 4,265 24,524 (d) Southern Community Financial 45,616 10,036 * Southern First Bancshares, Inc. 30,135 405,014 # Southern Missouri Bancorp, Inc. 7,832 236,918 # Southern National Bancorp of Virginia, Inc. 1,014 9,887 # Southside Bancshares, Inc. 118,305 3,229,726 * Southwest Bancorp, Inc. 130,906 2,095,805 Southwest Georgia Financial Corp. 12,047 114,447 State Auto Financial Corp. 41,897 796,043 StellarOne Corp. 116,921 2,721,921 * Sterling Bancorp(859158107) 271,569 4,005,643 Sterling Bancorp(85917A100) 401,514 4,705,744 Stewart Information Services Corp. 154,647 4,843,544 #* Stratus Properties, Inc. 70,975 1,091,596 * Suffolk Bancorp 116,114 2,270,029 Summit State Bank 1,118 11,068 #* Sun Bancorp, Inc. 276,153 911,305 * Sussex Bancorp 8,000 54,760 #* SWS Group, Inc. 265,182 1,492,975 # SY Bancorp, Inc. 129,832 3,896,258 #* Taylor Capital Group, Inc. 170,775 3,927,825 # Teche Holding Co. 16,949 852,535 #* Tejon Ranch Co. 215,548 7,979,587 Territorial Bancorp, Inc. 42,556 928,146 TF Financial Corp. 21,681 601,648 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ------------ Financials -- (Continued) Thomas Properties Group, Inc. 398,077 $ 2,706,924 Timberland Bancorp, Inc. 70,526 625,566 # Tompkins Financial Corp. 92,104 4,542,569 Tower Financial Corp. 8,021 190,338 # Tower Group International, Ltd. 225,469 818,452 # TowneBank 118,029 1,718,502 # Tree.com, Inc. 34,789 1,026,623 Trico Bancshares 146,645 3,708,652 # TrustCo Bank Corp. 644,534 4,331,268 Unico American Corp. 113,843 1,427,591 Union Bankshares Inc/Morrisville 14,917 323,251 # Union First Market Bankshares Corp. 127,210 3,068,305 United Bancshares, Inc. 6,297 83,561 United Community Bancorp 1,415 15,424 * United Community Banks, Inc. 185,887 2,897,978 #* United Community Financial Corp. 287,624 1,150,496 United Financial Bancorp, Inc. 94,025 1,474,312 United Fire Group, Inc. 192,649 6,106,973 * United Security Bancshares 109,175 561,159 Unity Bancorp, Inc. 32,785 242,937 # Universal Insurance Holdings, Inc. 266,355 2,088,223 Univest Corp. of Pennsylvania 102,999 2,056,890 * Vantagesouth Bancshares, Inc. 14,803 72,387 # ViewPoint Financial Group, Inc. 303,994 6,630,109 * Virginia Commerce Bancorp, Inc. 126,041 2,020,437 * Virtus Investment Partners, Inc. 40,078 8,156,675 # VSB Bancorp, Inc. 2,848 29,961 #* Walker & Dunlop, Inc. 160,523 2,083,589 Washington Banking Co. 85,818 1,459,764 # Washington Trust Bancorp, Inc. 131,301 4,318,490 #* Waterstone Financial, Inc. 29,299 311,741 # Wayne Savings Bancshares, Inc. 3,361 34,786 WesBanco, Inc. 249,132 7,324,481 West BanCorp., Inc. 89,233 1,233,200 # Westamerica BanCorp. 3,181 163,758 * Western Alliance Bancorp 615,654 13,021,082 Westfield Financial, Inc. 149,090 1,074,939 Westwood Holdings Group, Inc. 66,804 3,562,657 Wilshire Bancorp, Inc. 539,156 4,566,651 #* World Acceptance Corp. 153,471 15,979,401 * Wright Investors' Service Holdings, Inc. 109,400 232,475 WSFS Financial Corp. 18,538 1,297,845 WVS Financial Corp. 12,479 138,018 * Yadkin Financial Corp. 8,972 147,320 * ZipRealty, Inc. 200,583 1,103,207 ------------ Total Financials 818,351,130 ------------ Health Care -- (8.0%) # Abaxis, Inc. 41,954 1,499,016 #* ABIOMED, Inc. 3,026 72,563 #* Accelerate Diagnostics, Inc. 37,680 483,058 * Accretive Health, Inc. 6,437 53,170 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Health Care -- (Continued) #* Accuray, Inc. 463,396 $ 3,127,923 #* Achillion Pharmaceuticals, Inc. 114,406 287,159 #* Acorda Therapeutics, Inc. 208,232 6,373,982 #* Adcare Health Systems, Inc. 10,442 41,246 * Addus HomeCare Corp. 20,064 518,654 #* Affymax, Inc. 129,072 145,851 * Affymetrix, Inc. 537,490 3,800,054 #* Akorn, Inc. 23,579 481,955 #* Albany Molecular Research, Inc. 318,299 4,169,717 #* Alexza Pharmaceuticals, Inc. 2,750 13,723 #* Alliance HealthCare Services, Inc. 90,318 2,276,917 * Allied Healthcare Products 22,068 51,418 Almost Family, Inc. 46,565 895,445 #* Alnylam Pharmaceuticals, Inc. 19,466 1,121,436 #* Alphatec Holdings, Inc. 248,211 451,744 #* AMAG Pharmaceuticals, Inc. 121,914 3,289,240 #* Amedisys, Inc. 162,552 2,646,347 * American Shared Hospital Services 35,563 86,596 #* Amicus Therapeutics, Inc. 6,613 14,020 * AMN Healthcare Services, Inc. 351,363 4,356,901 * Amsurg Corp. 287,682 12,338,681 Analogic Corp. 123,960 11,432,831 * AngioDynamics, Inc. 186,975 2,939,247 * ANI Pharmaceuticals, Inc. 3,966 40,651 * Anika Therapeutics, Inc. 128,926 3,851,020 #* Arqule, Inc. 71,682 161,284 * Arrhythmia Research Technology, Inc. 16,626 54,284 * ArthroCare Corp. 194,078 7,266,280 * AtriCure, Inc. 6,378 88,335 Atrion Corp. 19,961 5,333,180 #* Authentidate Holding Corp. 7,129 8,983 #* Auxilium Pharmaceuticals, Inc. 84,938 1,461,783 #* AVEO Pharmaceuticals, Inc. 75,858 157,026 #* Baxano Surgical, Inc. 171,862 207,953 #* Bio-Reference Labs, Inc. 195,969 6,351,355 #* Bioanalytical Systems, Inc. 7,157 13,169 * BioCryst Pharmaceuticals, Inc. 300 1,727 #* Biodel, Inc. 39,257 99,320 #* Biolase, Inc. 2,015 3,768 * BioScrip, Inc. 514,952 3,609,814 #* Biospecifics Technologies Corp. 20,981 392,345 Biota Pharmaceuticals, Inc. 76,328 292,336 * BioTelemetry, Inc. 92,187 842,589 #* Bovie Medical Corp. 158,699 406,269 #* BSD Medical Corp. 161,152 254,620 * Cambrex Corp. 279,734 4,705,126 # Cantel Medical Corp. 281,942 9,896,164 #* Capital Senior Living Corp. 231,685 5,138,773 #* Cardica, Inc. 29,044 34,853 * CAS Medical Systems, Inc. 997 1,406 #* Catalyst Pharmaceutical Partners, Inc. 25,086 40,639 #* Celldex Therapeutics, Inc. 276,190 6,327,513 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Health Care -- (Continued) #* Celsion Corp. 18,314 $ 73,623 * Chindex International, Inc. 9,314 156,755 #* Cleveland Biolabs, Inc. 2,513 3,468 #* Codexis, Inc. 46,517 80,940 #* Columbia Laboratories, Inc. 3,466 24,955 # Computer Programs & Systems, Inc. 76,757 4,378,219 CONMED Corp. 262,279 9,512,859 #* Corcept Therapeutics, Inc. 199,501 337,157 * Cornerstone Therapeutics, Inc. 8,755 82,910 * Corvel Corp. 270,276 11,243,482 * Cross Country Healthcare, Inc. 241,157 1,432,473 CryoLife, Inc. 248,045 2,229,925 #* Cumberland Pharmaceuticals, Inc. 169,380 828,268 #* Cutera, Inc. 114,495 1,150,675 #* Cyberonics, Inc. 150,307 8,681,732 #* Cyclacel Pharmaceuticals, Inc. 4,300 15,093 #* Cynosure, Inc. Class A 102,433 2,213,577 * Cytokinetics, Inc. 33,967 204,142 Daxor Corp. 43,502 324,960 * Depomed, Inc. 11,885 85,572 * Digirad Corp. 104,281 347,256 #* Discovery Laboratories, Inc. 16,454 33,895 #* Durect Corp. 407,309 610,963 * Dyax Corp. 305,234 2,509,023 #* Dynavax Technologies Corp. 2,993 3,681 * Emergent Biosolutions, Inc. 231,728 4,525,648 * Emeritus Corp. 68,003 1,302,937 #* Encision, Inc. 3,700 3,367 #* Endocyte, Inc. 70,216 732,353 Ensign Group, Inc. (The) 167,703 7,140,794 #* EnteroMedics, Inc. 633 785 #* Entremed, Inc. 1,607 2,941 * Enzo Biochem, Inc. 274,574 683,689 # Enzon Pharmaceuticals, Inc. 301,457 446,156 * ERBA Diagnostics, Inc. 119 168 #* Exact Sciences Corp. 181,881 2,004,329 * Exactech, Inc. 101,444 2,302,779 #* ExamWorks Group, Inc. 118,575 3,065,164 #* Fibrocell Science, Inc. 3,400 12,580 * Five Star Quality Care, Inc. 215,881 1,094,517 #* Furiex Pharmaceuticals, Inc. 23,001 899,339 #* Galena Biopharma, Inc. 319 711 * Gentiva Health Services, Inc. 174,884 2,002,422 #* Geron Corp. 316,814 1,251,415 #* Greatbatch, Inc. 242,949 9,261,216 * Greenway Medical Technologies 2,235 45,482 #* GTx, Inc. 53,385 91,288 #* Hanger, Inc. 311,307 11,424,967 #* Harvard Bioscience, Inc. 312,031 1,837,863 * HealthStream, Inc. 136,964 4,892,354 #* Healthways, Inc. 231,640 2,230,693 #* Hemispherx Biopharma, Inc. 93,100 20,482 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Health Care -- (Continued) # Hi-Tech Pharmacal Co., Inc. 108,582 $ 4,678,798 * Hooper Holmes, Inc. 672,769 403,661 #* Horizon Pharma, Inc. 25,074 105,060 #* iBio, Inc. 75,428 26,588 * Icad, Inc. 7,500 67,425 * ICU Medical, Inc. 140,489 8,682,220 #* Idera Pharmaceuticals, Inc. 288,928 531,628 #* Immunomedics, Inc. 90,667 343,628 #* Infinity Pharmaceuticals, Inc. 82,489 1,117,726 #* Inovio Pharmaceuticals, Inc. 10,400 17,992 #* Integra LifeSciences Holdings Corp. 63,878 2,924,335 Invacare Corp. 244,489 5,249,179 #* IPC The Hospitalist Co., Inc. 112,153 6,144,863 * Iridex Corp. 18,587 110,964 #* IsoRay, Inc. 20 10 #* Keryx Biopharmaceuticals, Inc. 45,500 470,925 Kewaunee Scientific Corp. 25,060 435,042 # Kindred Healthcare, Inc. 366,239 5,083,397 Landauer, Inc. 88,270 4,272,268 * Lannett Co., Inc. 92,969 2,194,998 * LCA-Vision, Inc. 171,633 564,673 LeMaitre Vascular, Inc. 170,177 1,368,223 #* LHC Group, Inc. 122,366 2,520,740 #* Ligand Pharmaceuticals, Inc. Class B 3,853 199,431 * Luminex Corp. 63,400 1,236,300 # Masimo Corp. 3,159 80,934 #* Mast Therapeutics, Inc. 72,438 35,495 (d)* Maxygen, Inc. 319,639 9,589 * MedAssets, Inc. 405,712 9,343,547 (d)* MedCath Corp. 92,602 126,865 * Medical Action Industries, Inc. 158,071 957,910 #* MediciNova, Inc. 75,542 186,589 * Medidata Solutions, Inc. 116,683 12,871,302 # Meridian Bioscience, Inc. 69,149 1,709,363 #* Merit Medical Systems, Inc. 436,586 6,981,010 # MGC Diagnostics Corp. 1,294 15,334 #* Misonix, Inc. 62,750 262,295 #* Momenta Pharmaceuticals, Inc. 325,627 5,337,027 #* Nanosphere, Inc. 33,860 66,027 # National Healthcare Corp. 104,718 5,066,257 #* National Research Corp. Class A 202,317 3,548,640 # National Research Corp. Class B 33,719 943,795 #* Natus Medical, Inc. 252,913 4,989,973 * Neogen Corp. 53,291 2,463,087 * NuVasive, Inc. 346,328 11,006,304 #* Oculus Innovative Sciences, Inc. 30 77 * Omnicell, Inc. 276,545 6,379,893 #* OncoGenex Pharmaceutical, Inc. 16,093 113,134 #* OraSure Technologies, Inc. 32,811 213,928 * Orthofix International NV 104,727 2,145,856 #* Osiris Therapeutics, Inc. 17,979 239,300 * Pacific Biosciences of California, Inc. 53,955 221,755 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ --------- ---------- Health Care -- (Continued) # Pain Therapeutics, Inc. 173,659 $ 635,592 * PDI, Inc. 130,894 624,364 # PDL BioPharma, Inc. 1,068,559 8,644,642 #* Pernix Therapeutics Holdings 36,732 76,770 * PharMerica Corp. 273,237 4,032,978 #* PhotoMedex, Inc. 29,056 367,268 #* Pozen, Inc. 294,588 1,851,486 #* Progenics Pharmaceuticals, Inc. 166,955 607,716 * ProPhase Labs, Inc. 56,585 93,931 * Providence Service Corp. (The) 121,988 3,646,221 #* pSivida Corp. 40,264 98,647 Psychemedics Corp. 1,558 21,796 # Quality Systems, Inc. 148,859 3,396,962 #* Quidel Corp. 238,653 5,894,729 #* RadNet, Inc. 102,903 252,112 #* Repligen Corp. 327,388 3,581,625 #* Repros Therapeutics, Inc. 10,473 188,933 #* Retractable Technologies, Inc. 4,372 10,886 #* Rigel Pharmaceuticals, Inc. 171,979 531,415 * Rochester Medical Corp. 101,868 2,035,323 * RTI Biologics, Inc. 387,288 1,080,534 #* RXi Pharmaceuticals Corp. 10 31 #* Sagent Pharmaceuticals, Inc. 3,266 70,840 #* Sangamo Biosciences, Inc. 41,605 389,839 #* Santarus, Inc. 303,567 7,082,218 #* Sciclone Pharmaceuticals, Inc. 466,422 2,206,176 Select Medical Holdings Corp. 21,611 183,261 Simulations Plus, Inc. 123,672 648,041 #* Skilled Healthcare Group, Inc. Class A 123,337 525,416 #* Solta Medical, Inc. 397,170 734,764 Span-America Medical Systems, Inc. 32,884 619,863 * Special Diversified Opportunities, Inc. 4,062 4,509 * Spectranetics Corp. 145,373 3,036,842 # Spectrum Pharmaceuticals, Inc. 484,889 4,165,197 #* Staar Surgical Co. 105,430 1,395,893 #* StemCells, Inc. 11,628 15,465 #* Stereotaxis, Inc. 10,471 45,758 #* Sucampo Pharmaceuticals, Inc. Class A 99,193 614,997 * SurModics, Inc. 173,655 4,094,785 * Symmetry Medical, Inc. 270,623 2,192,046 * Targacept, Inc. 53,136 252,396 #* Threshold Pharmaceuticals, Inc. 17,876 77,582 * Tornier NV 50,495 1,086,147 #* Transcept Pharmaceuticals, Inc. 111,214 409,268 #* Triple-S Management Corp. Class B 119,820 2,133,994 Universal American Corp. 537,606 3,989,037 #* Uroplasty, Inc. 12,179 36,902 US Physical Therapy, Inc. 116,572 3,720,978 # Utah Medical Products, Inc. 48,415 2,694,779 * Vascular Solutions, Inc. 158,467 3,109,123 #* Vical, Inc. 9,524 11,905 #* Vision Sciences, Inc. 23,250 19,530 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ------------ Health Care -- (Continued) #* Volcano Corp. 40,587 $ 778,053 #* Wright Medical Group, Inc. 335,773 9,122,952 #* XenoPort, Inc. 27,286 142,706 Xstelos Holdings, Inc. 81,000 106,110 #* Zalicus, Inc. 6,868 30,083 ------------ Total Health Care 441,340,277 ------------ Industrials -- (15.0%) # AAON, Inc. 410,994 11,100,948 AAR Corp. 293,271 8,586,975 ABM Industries, Inc. 39,967 1,099,492 # Acacia Research Corp. 46,787 706,016 #* ACCO Brands Corp. 287,804 1,683,653 #* Accuride Corp. 29,777 133,996 Aceto Corp. 231,959 3,699,746 Acme United Corp. 30,407 445,158 # Acorn Energy, Inc. 80,179 301,473 * Active Power, Inc. 65,376 194,167 #* Adept Technology, Inc. 106,218 883,734 * Aegion Corp. 293,229 6,011,194 #* AeroCentury Corp. 9,017 180,340 #* Aerovironment, Inc. 212,536 5,761,851 * Air Transport Services Group, Inc. 330,201 2,390,655 Aircastle, Ltd. 224,541 4,237,089 Alamo Group, Inc. 90,998 4,294,196 Albany International Corp. Class A 213,866 7,872,407 (d) Allied Defense Group, Inc. (The) 51,940 272,685 Allied Motion Technologies, Inc. 35,896 342,807 # Altra Holdings, Inc. 212,452 6,452,167 #* Ameresco, Inc. Class A 98,937 1,034,881 # American Railcar Industries, Inc. 194,540 7,968,358 American Science & Engineering, Inc. 84,690 5,570,908 #* American Superconductor Corp. 58,302 127,098 * American Woodmark Corp. 134,527 4,563,156 Ampco-Pittsburgh Corp. 85,409 1,572,380 * AMREP Corp. 66,450 534,922 # Apogee Enterprises, Inc. 282,114 8,824,526 * ARC Document Solutions, Inc. 225,188 1,405,173 Argan, Inc. 53,854 1,198,251 # Arkansas Best Corp. 171,461 4,692,888 * Arotech Corp. 99,723 164,543 Art's-Way Manufacturing Co., Inc. 200 1,118 #* Ascent Solar Technologies, Inc. 74,256 69,801 Astec Industries, Inc. 180,368 6,098,242 * Astronics Corp. 115,462 5,664,566 #* Astronics Corp. Class B 23,092 1,115,132 * Atlas Air Worldwide Holdings, Inc. 18,826 697,127 * Avalon Holdings Corp. Class A 20,575 106,578 AZZ, Inc. 234,421 10,525,503 Baltic Trading, Ltd. 71,895 322,090 Barrett Business Services, Inc. 84,535 7,039,229 * Blount International, Inc. 370,055 4,507,270 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Industrials -- (Continued) #* BlueLinx Holdings, Inc. 184,488 $ 343,148 * Breeze-Eastern Corp. 98,241 916,097 # Briggs & Stratton Corp. 392,597 7,200,229 Brink's Co. (The) 8,596 269,914 #* Broadwind Energy, Inc. 890 6,497 #* Builders FirstSource, Inc. 149,988 1,111,411 * CAI International, Inc. 130,212 2,850,341 * Casella Waste Systems, Inc. Class A 78,598 464,514 #* CBIZ, Inc. 617,182 5,036,205 CDI Corp. 98,414 1,579,545 Ceco Environmental Corp. 156,017 2,753,700 # Celadon Group, Inc. 223,015 4,134,698 #* Cenveo, Inc. 35,336 110,955 Chicago Rivet & Machine Co. 17,700 587,640 CIRCOR International, Inc. 122,023 9,001,637 Coleman Cable, Inc. 64,325 1,582,395 * Columbus McKinnon Corp. 170,803 4,442,586 # Comfort Systems USA, Inc. 331,526 6,176,329 * Command Security Corp. 17,842 27,298 #* Commercial Vehicle Group, Inc. 151,209 1,190,015 Compx International, Inc. 18,270 259,251 Conrad Industries, Inc. 18,700 606,908 * Consolidated Graphics, Inc. 81,724 5,237,691 * Costa, Inc. 80,715 1,623,986 Courier Corp. 120,220 2,042,538 * Covenant Transportation Group, Inc. Class A 91,000 594,230 #* CPI Aerostructures, Inc. 48,356 599,614 * CRA International, Inc. 101,190 1,927,669 * Dolan Co. (The) 134,798 346,431 # Douglas Dynamics, Inc. 161,344 2,447,588 #* Ducommun, Inc. 96,765 2,405,578 * DXP Enterprises, Inc. 87,102 8,004,674 * Dycom Industries, Inc. 261,243 7,745,855 Dynamic Materials Corp. 77,406 1,710,673 #* Eagle Bulk Shipping, Inc. 75,276 418,535 Eastern Co. (The) 56,509 935,224 #* Echo Global Logistics, Inc. 50,063 921,660 Ecology and Environment, Inc. Class A 20,292 223,212 # Encore Wire Corp. 212,520 10,526,116 #* Energy Recovery, Inc. 257,075 1,501,318 #* EnerNOC, Inc. 139,436 2,318,821 * Engility Holdings, Inc. 35,132 1,088,038 Ennis, Inc. 225,577 4,003,992 #* EnPro Industries, Inc. 198,137 11,822,835 #* Environmental Tectonics Corp. 60,400 107,814 EnviroStar, Inc. 6,650 19,950 # ESCO Technologies, Inc. 159,154 5,742,276 # Espey Manufacturing & Electronics Corp. 35,587 1,156,577 # Exponent, Inc. 135,915 10,276,533 * Federal Signal Corp. 496,488 6,796,921 #* Flow International Corp. 322,038 1,284,932 Forward Air Corp. 220,265 8,916,327 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Industrials -- (Continued) * Franklin Covey Co. 169,691 $3,190,191 # Franklin Electric Co., Inc. 39,089 1,479,519 # FreightCar America, Inc. 68,565 1,524,886 #* Fuel Tech, Inc. 117,467 532,125 * Furmanite Corp. 334,453 3,762,596 G&K Services, Inc. Class A 148,806 9,285,494 #* Genco Shipping & Trading, Ltd. 241,352 644,410 * Gencor Industries, Inc. 6,536 59,674 #* GenCorp, Inc. 240,744 4,044,499 * Gibraltar Industries, Inc. 276,704 4,430,031 Global Power Equipment Group, Inc. 38,805 790,070 #* Goldfield Corp. (The) 44,025 83,647 # Gorman-Rupp Co. (The) 197,355 8,040,243 * GP Strategies Corp. 153,147 4,291,179 #* GrafTech International, Ltd. 16,622 147,936 Graham Corp. 69,416 2,555,203 Granite Construction, Inc. 119,667 3,871,227 # Great Lakes Dredge & Dock Corp. 418,230 3,396,028 #* Greenbrier Cos., Inc. 202,897 5,384,886 # Griffon Corp. 481,728 6,036,052 * H&E Equipment Services, Inc. 299,148 7,487,674 Hardinge, Inc. 97,119 1,436,390 #* Hawaiian Holdings, Inc. 491,286 4,053,109 # Heartland Express, Inc. 178,169 2,558,507 Heidrick & Struggles International, Inc. 159,200 2,948,384 #* Heritage-Crystal Clean, Inc. 7,001 123,708 * Hill International, Inc. 317,051 1,090,655 * Horizon Lines, Inc. Class A 12,140 15,418 # Houston Wire & Cable Co. 188,718 2,617,519 * Hudson Global, Inc. 131,868 428,571 #* Hudson Technologies, Inc. 20,484 43,631 Hurco Cos., Inc. 54,870 1,343,766 * Huron Consulting Group, Inc. 163,515 9,577,074 * Huttig Building Products, Inc. 161,870 404,675 Hyster-Yale Materials Handling, Inc. 65,138 5,109,425 * ICF International, Inc. 110,852 3,837,696 * II-VI, Inc. 47,199 805,215 #* InnerWorkings, Inc. 117,937 1,128,657 * Innotrac Corp. 156,400 1,049,444 # Innovative Solutions & Support, Inc. 139,210 1,096,975 Insperity, Inc. 190,566 7,369,187 Insteel Industries, Inc. 100,235 1,662,899 * Integrated Electrical Services, Inc. 118,179 550,714 # Interface, Inc. 458,241 9,279,380 # International Shipholding Corp. 58,108 1,442,241 # Intersections, Inc. 156,439 1,340,682 John Bean Technologies Corp. 225,686 6,134,145 * JPS Industries, Inc. 24,500 120,050 Kadant, Inc. 98,109 3,512,302 Kaman Corp. 239,763 8,914,388 # Kelly Services, Inc. Class A 262,383 5,473,309 Kelly Services, Inc. Class B 635 13,595 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Industrials -- (Continued) * Key Technology, Inc. 49,705 $ 719,231 # Kforce, Inc. 392,289 7,724,170 Kimball International, Inc. Class B 228,614 2,674,784 # Knight Transportation, Inc. 24,876 422,146 Knoll, Inc. 363,799 5,973,580 * Korn/Ferry International 333,752 7,943,298 #* Kratos Defense & Security Solutions, Inc. 238,191 2,019,860 #* Lawson Products, Inc. 82,104 1,077,204 #* Layne Christensen Co. 139,569 2,699,264 LB Foster Co. Class A 102,703 4,801,365 # Lindsay Corp. 121,402 9,227,766 #* LMI Aerospace, Inc. 94,970 1,491,029 LS Starrett Co. (The) Class A 51,344 583,781 LSI Industries, Inc. 202,268 1,862,888 * Luna Innovations, Inc. 17,526 25,237 * Lydall, Inc. 140,104 2,552,695 #* Magnetek, Inc. 30,711 556,483 #* Manitex International, Inc. 6,450 83,398 Marten Transport, Ltd. 305,134 5,382,564 Mastech Holdings, Inc. 7,962 116,086 Matson, Inc. 137,474 3,724,171 # McGrath RentCorp 236,077 8,420,867 * Meritor, Inc. 237,110 1,628,946 #* Metalico, Inc. 356,973 585,436 * Mfri, Inc. 57,134 676,467 Miller Industries, Inc. 79,825 1,495,920 * Mistras Group, Inc. 103,853 1,906,741 #* Mobile Mini, Inc. 242,846 8,771,598 Mueller Water Products, Inc. Class A 1,458,942 12,503,133 Multi-Color Corp. 104,725 3,647,572 #* MYR Group, Inc. 173,837 4,597,989 # National Presto Industries, Inc. 41,306 2,914,138 #* National Technical Systems, Inc. 86,036 1,969,364 * Navigant Consulting, Inc. 239,788 4,160,322 #* NCI Building Systems, Inc. 41,854 603,953 # NL Industries, Inc. 236,934 2,762,650 NN, Inc. 160,207 2,576,129 #* Nortek, Inc. 5,653 396,671 * Northwest Pipe Co. 88,313 3,181,917 #* Ocean Power Technologies, Inc. 35,797 84,123 #* Odyssey Marine Exploration, Inc. 448,045 972,258 Omega Flex, Inc. 100,238 2,038,841 * On Assignment, Inc. 206,072 6,963,173 #* Orbit International Corp. 2,185 7,210 * Orbital Sciences Corp. 314,757 7,261,444 * Orion Energy Systems, Inc. 30,546 129,820 * Orion Marine Group, Inc. 97,601 1,220,012 #* Pacer International, Inc. 238,624 1,904,220 PAM Transportation Services, Inc. 86,903 1,512,112 * Park-Ohio Holdings Corp. 99,568 4,123,111 * Patrick Industries, Inc. 75,488 2,361,265 #* Patriot Transportation Holding, Inc. 92,577 3,422,572 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Industrials -- (Continued) * Paul Mueller Co. 10,813 $ 329,851 * Pendrell Corp. 126,908 283,005 * PGT, Inc. 142,856 1,492,845 Pike Electric Corp. 200,126 2,163,362 #* Plug Power, Inc. 881 511 #* PMFG, Inc. 94,438 740,394 * Powell Industries, Inc. 109,528 6,881,644 #* PowerSecure International, Inc. 193,546 3,499,312 Preformed Line Products Co. 51,643 4,339,045 # Primoris Services Corp. 300,250 7,818,510 Providence and Worcester Railroad Co. 18,747 383,751 # Quad/Graphics, Inc. 22,994 802,950 * Quality Distribution, Inc. 203,047 2,087,323 # Quanex Building Products Corp. 282,979 5,031,367 # Raven Industries, Inc. 213,632 7,126,764 * RBC Bearings, Inc. 146,959 10,109,310 RCM Technologies, Inc. 114,406 737,919 #* Real Goods Solar, Inc. Class A 1,796 6,017 * Republic Airways Holdings, Inc. 318,432 3,751,129 Resources Connection, Inc. 239,329 3,053,838 * Roadrunner Transportation Systems, Inc. 162,228 4,299,042 * RPX Corp. 130,271 2,326,640 #* Rush Enterprises, Inc. Class A 239,939 6,867,054 * Rush Enterprises, Inc. Class B 115,888 2,817,237 #* Saia, Inc. 163,471 5,317,712 Schawk, Inc. 243,811 3,564,517 * Schuff International, Inc. 53,200 907,060 Servotronics, Inc. 24,804 209,346 SIFCO Industries, Inc. 45,830 1,016,509 SkyWest, Inc. 361,393 5,435,351 SL Industries, Inc. 54,267 1,465,209 # SmartPros, Ltd. 38,973 77,946 * Sparton Corp. 47,951 1,265,427 #* Standard Parking Corp. 169,280 4,480,842 #* Standard Register Co. (The) 46,975 399,287 Standex International Corp. 110,239 6,780,801 * Sterling Construction Co., Inc. 91,184 875,366 # Sun Hydraulics Corp. 227,149 9,013,272 * Supreme Industries, Inc. Class A 106,580 652,270 Sypris Solutions, Inc. 166,119 529,920 # TAL International Group, Inc. 71,274 3,443,247 * Taser International, Inc. 291,960 5,188,129 #* Team, Inc. 160,630 5,989,893 #* Tecumseh Products Co. Class A 121,247 945,727 * Tecumseh Products Co. Class B 10,870 79,242 * Tel-Instrument Electronics Corp. 18,440 77,817 Tennant Co. 161,643 9,810,114 * Thermon Group Holdings, Inc. 53,980 1,269,070 # Titan International, Inc. 379,762 5,506,549 #* Titan Machinery, Inc. 162,627 2,868,740 #* Transcat, Inc. 42,500 357,000 #* TRC Cos., Inc. 200,030 1,538,231 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ------------ Industrials -- (Continued) #* Trex Co., Inc. 20,831 $ 1,462,753 #* Trimas Corp. 212,836 8,057,971 * TrueBlue, Inc. 355,772 8,787,568 * Tufco Technologies, Inc. 6,498 32,815 * Tutor Perini Corp. 172,845 3,966,793 # Twin Disc, Inc. 90,134 2,331,767 * Ultralife Corp. 84,195 328,360 * Ultrapetrol Bahamas, Ltd. 6,299 22,676 UniFirst Corp. 70,785 7,278,114 #* UniTek Global Services, Inc. 400 456 # Universal Forest Products, Inc. 156,121 8,261,923 #* Universal Power Group, Inc. 3,827 4,784 * Universal Security Instruments, Inc. 2,177 10,395 # Universal Truckload Services, Inc. 77,353 2,062,231 US Ecology, Inc. 174,091 6,188,935 * USA Truck, Inc. 66,021 876,759 * Versar, Inc. 37,056 175,275 Viad Corp. 192,839 5,148,801 * Vicor Corp. 259,789 2,288,741 #* Virco Manufacturing Corp. 133,476 270,956 #* Volt Information Sciences, Inc. 192,487 1,674,637 VSE Corp. 33,676 1,475,009 #* Wabash National Corp. 462,109 5,388,191 * Willdan Group, Inc. 6,636 25,350 #* Willis Lease Finance Corp. 76,817 1,338,920 * XPO Logistics, Inc. 96,142 1,940,146 #* YRC Worldwide, Inc. 5,947 56,378 ------------ Total Industrials 832,303,783 ------------ Information Technology -- (15.0%) #* 3D Systems Corp. 255 15,871 * Accelrys, Inc. 525,655 4,914,874 * Active Network, Inc. (The) 59,166 854,357 * Actuate Corp. 540,500 4,329,405 #* ADDvantage Technologies Group, Inc. 84,703 224,463 * Advanced Energy Industries, Inc. 399,656 8,344,817 * Advanced Photonix, Inc. Class A 65,272 45,690 * Aehr Test Systems 42,505 108,388 * Aeroflex Holding Corp. 265,674 2,058,973 * Aetrium, Inc. 261 927 * Agilysys, Inc. 176,406 2,072,770 #* Alpha & Omega Semiconductor, Ltd. 77,620 571,283 American Software, Inc. Class A 222,349 1,945,554 #* Amkor Technology, Inc. 385,318 2,046,039 * Amtech Systems, Inc. 72,428 579,424 #* ANADIGICS, Inc. 412,301 832,848 * Anaren, Inc. 133,778 3,341,774 #* Applied Micro Circuits Corp. 416,493 4,856,308 #* Astea International, Inc. 11,800 33,217 # Astro-Med, Inc. 58,981 747,879 * ATMI, Inc. 238,297 6,515,040 * Autobytel, Inc. 78,058 636,173 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Information Technology -- (Continued) * AVG Technologies NV 29,342 $ 589,774 #* Aviat Networks, Inc. 338,038 696,358 * Avid Technology, Inc. 194,513 1,449,122 # Aware, Inc. 134,505 703,461 * Axcelis Technologies, Inc. 914,667 1,984,827 * AXT, Inc. 285,411 645,029 # Badger Meter, Inc. 152,301 7,921,175 #* Bazaarvoice, Inc. 26,420 247,820 # Bel Fuse, Inc. Class A 33,988 700,833 Bel Fuse, Inc. Class B 92,406 1,944,222 * Benchmark Electronics, Inc. 15,515 352,656 # Black Box Corp. 143,976 3,605,159 * Blonder Tongue Laboratories 61,201 55,693 #* Blucora, Inc. 352,857 8,338,011 Bogen Communications International 33,103 61,241 (d)* Bogen Corp 33,103 -- #* Bottomline Technologies de, Inc. 253,216 7,956,047 #* BroadVision, Inc. 16,737 162,182 Brooks Automation, Inc. 460,160 4,435,942 * Bsquare Corp. 89,864 289,362 * BTU International, Inc. 74,894 247,899 * Cabot Microelectronics Corp. 221,551 9,059,220 #* CalAmp Corp. 248,226 5,840,758 * Calix, Inc. 277,584 2,823,029 * Cardtronics, Inc. 64,486 2,531,075 * Cascade Microtech, Inc. 97,152 994,836 # Cass Information Systems, Inc. 57,671 3,306,278 #* Ceva, Inc. 121,828 1,745,795 * Checkpoint Systems, Inc. 220,691 3,756,161 #* China Information Technology, Inc. 25,916 118,436 * ChyronHego Corp. 315 472 * CIBER, Inc. 417,211 1,355,936 * Cinedigm Corp. 1,512 2,706 #* Cirrus Logic, Inc. 6,589 147,791 * Clearfield, Inc. 88,476 1,312,984 #* Cogo Group, Inc. 16,364 38,783 Coherent, Inc. 14,693 972,530 Cohu, Inc. 158,816 1,518,281 (d)#* Commerce One LLC 4,800 -- Communications Systems, Inc. 79,847 911,054 Computer Task Group, Inc. 178,201 3,052,583 * comScore, Inc. 26,879 718,207 Comtech Telecommunications Corp. 138,344 4,153,087 * Comverse, Inc. 1,146 36,191 Concurrent Computer Corp. 27,251 200,840 #* Constant Contact, Inc. 137,868 3,572,160 #* Cray, Inc. 315,519 7,055,005 #* Crexendo, Inc. 104,126 322,791 # CSG Systems International, Inc. 248,152 6,913,515 # CSP, Inc. 49,891 377,176 CTS Corp. 265,469 4,943,033 #* CVD Equipment Corp. 31,867 356,910 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Information Technology -- (Continued) * CyberOptics Corp. 56,931 $ 288,640 Daktronics, Inc. 268,470 3,210,901 * Data I/O Corp. 77,000 227,150 * Datalink Corp. 115,690 1,188,136 #* Dataram Corp. 7,898 19,271 * Datawatch Corp. 18,488 558,338 * Dealertrack Technologies, Inc. 112,999 4,214,863 #* Demand Media, Inc. 209,753 1,002,619 #* Dice Holdings, Inc. 454,589 3,354,867 * Digi International, Inc. 236,189 2,380,785 Digimarc Corp. 59,341 1,249,721 * Digital River, Inc. 61,592 1,098,801 * Diodes, Inc. 158,944 3,849,624 * Dot Hill Systems Corp. 550,651 1,596,888 * DSP Group, Inc. 234,064 1,743,777 #* DTS, Inc. 174,891 3,497,820 * Dynamics Research Corp. 82,749 612,343 # EarthLink, Inc. 662,359 3,351,537 # Ebix, Inc. 258,294 2,939,386 #* Echelon Corp. 172,946 375,293 * Edgewater Technology, Inc. 87,868 601,896 #* Elecsys Corp. 31,697 278,300 Electro Rent Corp. 237,405 4,306,527 Electro Scientific Industries, Inc. 119,150 1,427,417 # Electro-Sensors, Inc. 3,450 13,489 * Electronics for Imaging, Inc. 383,228 13,148,553 #* Ellie Mae, Inc. 33,981 982,051 # eMagin Corp. 52,807 145,219 #* Emcore Corp. 149,543 797,064 * Emulex Corp. 480,652 3,619,310 * Entegris, Inc. 776,203 8,033,701 #* Entropic Communications, Inc. 477,309 2,042,883 * Envestnet, Inc. 123,001 4,464,936 * EPAM Systems, Inc. 4,448 166,667 # EPIQ Systems, Inc. 280,862 4,201,696 # ePlus, Inc. 55,622 3,023,612 * Euronet Worldwide, Inc. 199,031 8,637,945 Evolving Systems, Inc. 35,800 373,394 * Exar Corp. 408,807 4,713,545 * ExlService Holdings, Inc. 245,827 7,106,859 * Extreme Networks 618,849 3,317,031 * Fabrinet 145,361 2,433,343 #* FalconStor Software, Inc. 404,459 598,599 * FARO Technologies, Inc. 116,934 5,554,365 * FormFactor, Inc. 194,667 1,016,162 Forrester Research, Inc. 256,189 9,942,695 Frequency Electronics, Inc. 74,860 831,695 * Giga-tronics, Inc. 27,752 26,226 #* GigOptix, Inc. 17,808 24,931 * Global Cash Access Holdings, Inc. 507,444 4,211,785 Globalscape, Inc. 5,930 9,933 * Globecomm Systems, Inc. 204,197 2,864,884 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Information Technology -- (Continued) * GSE Systems, Inc. 127,249 $ 216,323 * GSI Group, Inc. 84,971 848,011 #* GSI Technology, Inc. 126,100 885,222 #* GT Advanced Technologies, Inc. 337,635 2,532,262 #* Guidance Software, Inc. 38,545 336,883 Hackett Group, Inc. (The) 397,920 2,833,190 * Harmonic, Inc. 839,287 6,135,188 * Hauppauge Digital, Inc. 22,877 8,076 # Heartland Payment Systems, Inc. 334,773 13,541,568 * Higher One Holdings, Inc. 19,105 151,885 * Hutchinson Technology, Inc. 231,183 860,001 * ID Systems, Inc. 55,135 286,702 * Identive Group, Inc. 195,156 124,880 #* IEC Electronics Corp. 39,059 167,954 * iGATE Corp. 533,687 16,992,594 #* iGO, Inc. 3,145 9,215 * Ikanos Communications, Inc. 64,641 84,680 #* Imation Corp. 188,057 874,465 * Immersion Corp. 117,379 1,493,061 #* Infinera Corp. 880,779 8,992,754 * Innodata, Inc. 217,125 521,100 #* Inphi Corp. 90,106 1,328,162 * Insight Enterprises, Inc. 388,100 8,177,267 * Integrated Device Technology, Inc. 1,226,260 13,047,406 * Integrated Silicon Solution, Inc. 226,359 2,440,150 * Interactive Intelligence Group, Inc. 91,043 5,594,592 #* Internap Network Services Corp. 555,785 4,040,557 * Internet Patents Corp. 12,966 41,491 * Interphase Corp. 29,534 120,203 # Intersil Corp. Class A 50,246 560,745 # inTEST Corp. 84,141 323,943 * Intevac, Inc. 169,582 864,868 * IntraLinks Holdings, Inc. 57,257 594,900 * IntriCon Corp. 53,872 238,653 #* Inuvo, Inc. 1,309 2,147 * Ipass, Inc. 366,725 678,441 * Iteris, Inc. 52,380 107,379 * Ixia 466,766 6,618,742 IXYS Corp. 310,390 3,609,836 * Kemet Corp. 224,838 1,274,831 * Key Tronic Corp. 20,206 219,235 #* Kopin Corp. 668,444 2,453,189 * Kulicke & Soffa Industries, Inc. 543,607 7,012,530 * KVH Industries, Inc. 157,667 2,166,345 * Lantronix, Inc. 45 59 * Lattice Semiconductor Corp. 1,152,214 5,910,858 * LGL Group, Inc. (The) 29,250 173,745 #* Lightpath Technologies, Inc. Class A 8,650 12,023 * Limelight Networks, Inc. 667,209 1,281,041 #* Lionbridge Technologies, Inc. 259,264 1,130,391 #* LivePerson, Inc. 15,924 148,730 * LogMeIn, Inc. 19,440 627,912 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Information Technology -- (Continued) #* LoJack Corp. 182,226 $ 798,150 #* LTX-Credence Corp. 393,028 2,409,262 * Magnachip Semiconductor Corp. 316,660 5,918,375 * Management Network Group, Inc. 22,112 61,029 * Manhattan Associates, Inc. 199,341 21,231,810 # ManTech International Corp. Class A 9,340 260,960 Marchex, Inc. Class B 148,124 1,321,266 #* Mattersight Corp. 103,208 436,570 #* Mattson Technology, Inc. 193,251 572,023 #* MaxLinear, Inc. Class A 23,256 201,397 #* Maxwell Technologies, Inc. 98,624 739,680 #* Measurement Specialties, Inc. 110,058 6,133,532 * Mediabistro, Inc. 12,821 23,078 #* Mercury Systems, Inc. 204,339 1,884,006 # Mesa Laboratories, Inc. 31,800 2,214,234 Methode Electronics, Inc. 383,000 9,797,140 Micrel, Inc. 531,925 4,893,710 #* Millennial Media, Inc. 45,824 322,143 #* Mindspeed Technologies, Inc. 196,687 568,425 # MOCON, Inc. 63,175 881,291 * ModusLink Global Solutions, Inc. 200,546 826,250 * MoneyGram International, Inc. 26,243 553,990 Monolithic Power Systems, Inc. 326,150 10,384,616 # Monotype Imaging Holdings, Inc. 269,476 7,604,613 #* Monster Worldwide, Inc. 242,299 1,046,732 #* MoSys, Inc. 165,440 727,936 * Move, Inc. 356,694 6,053,097 # MRV Communications, Inc. 61,619 677,809 MTS Systems Corp. 165,039 10,780,347 * Multi-Fineline Electronix, Inc. 172,743 2,316,484 #* Nanometrics, Inc. 175,339 3,257,799 #* NAPCO Security Technologies, Inc. 307,597 1,728,695 #* NCI, Inc. Class A 49,172 280,280 #* NeoPhotonics Corp. 5,084 36,046 #* NETGEAR, Inc. 15,810 454,696 #* Netlist, Inc. 75,583 62,001 * Netscout Systems, Inc. 329,722 9,337,727 * Newport Corp. 330,648 5,247,384 * Newtek Business Services, Inc. 243,027 707,209 NIC, Inc. 456,902 11,248,927 * Novatel Wireless, Inc. 192,218 589,148 #* Numerex Corp. Class A 73,646 869,759 #* Oclaro, Inc. 345,826 705,485 * Official Payments Holdings, Inc. 169,800 1,416,132 #* OmniVision Technologies, Inc. 451,533 6,325,977 * Omtool, Ltd. 30,770 37,539 #* Onvia, Inc. 6,308 30,909 * Oplink Communications, Inc. 122,103 2,228,380 Optical Cable Corp. 55,836 222,786 * OSI Systems, Inc. 112,610 8,202,512 #* Overland Storage, Inc. 40,733 36,660 * PAR Technology Corp. 131,950 733,642 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Information Technology -- (Continued) Park Electrochemical Corp. 187,161 $5,249,866 #* Parkervision, Inc. 171,061 468,707 PC Connection, Inc. 108,093 2,160,779 PC-Tel, Inc. 183,140 1,686,719 * PCM, Inc. 117,011 1,230,956 * PDF Solutions, Inc. 141,852 3,258,340 Perceptron, Inc. 54,298 759,629 * Perficient, Inc. 228,851 4,139,915 * Performance Technologies, Inc. 102,658 318,240 * Pericom Semiconductor Corp. 223,214 1,803,569 #* Pfsweb, Inc. 24,219 174,135 #* Photronics, Inc. 446,425 3,749,970 #* Pixelworks, Inc. 58,634 265,612 #* Planar Systems, Inc. 162,065 338,716 * Plexus Corp. 118,569 4,538,821 * PLX Technology, Inc. 82,969 501,133 * PMC - Sierra, Inc. 62,451 366,587 # Power Integrations, Inc. 96,253 5,528,772 * PRGX Global, Inc. 124,218 891,885 #* Procera Networks, Inc. 26,558 375,796 * Progress Software Corp. 10,656 276,630 * PROS Holdings, Inc. 13,890 491,011 #* Pulse Electronics Corp. 1,330 4,941 # QAD, Inc. Class A 126,079 1,881,099 # QAD, Inc. Class B 31,205 393,183 * QLogic Corp. 88,501 1,092,987 * Qualstar Corp. 90,434 118,469 #* Quantum Corp. 206,607 256,193 #* QuickLogic Corp. 22,913 88,215 #* QuinStreet, Inc. 48,923 434,925 * Qumu Corp. 85,784 1,285,044 #* Radisys Corp. 206,728 624,319 * Rainmaker Systems, Inc. 1,126 563 #* Rambus, Inc. 416,271 3,638,209 * RealD, Inc. 164,210 1,136,333 * RealNetworks, Inc. 303,361 2,326,779 #* Reis, Inc. 85,111 1,531,147 #* Relm Wireless Corp. 37,546 98,746 #* Remark Media, Inc. 1,102 3,846 #* Research Frontiers, Inc. 6,000 28,920 * Responsys, Inc. 24,450 399,513 RF Industries, Ltd. 55,279 508,014 Richardson Electronics, Ltd. 130,504 1,503,406 * Rofin-Sinar Technologies, Inc. 150,345 3,946,556 * Rogers Corp. 117,041 7,134,819 * Rosetta Stone, Inc. 113,106 1,716,949 #* Rubicon Technology, Inc. 113,654 977,424 #* Rudolph Technologies, Inc. 276,551 2,931,441 * Saba Software, Inc. 22,758 263,993 * Sanmina Corp. 285,885 4,162,486 * ScanSource, Inc. 231,988 8,922,258 #* Scientific Learning Corp. 103,488 51,216 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Information Technology -- (Continued) * Seachange International, Inc. 274,700 $ 3,897,993 * Selectica, Inc. 26,569 180,138 #* ServiceSource International, Inc. 11,263 121,866 * Sevcon, Inc. 56,400 267,900 * ShoreTel, Inc. 313,168 2,489,686 * Sigma Designs, Inc. 205,569 1,118,295 * Sigmatron International, Inc. 18,200 97,552 #* Silicon Graphics International Corp. 100,134 1,278,711 * Silicon Image, Inc. 529,498 2,779,864 * Smith Micro Software, Inc. 156,813 127,019 * SMTC Corp. 16,231 31,650 #* Sonic Foundry, Inc. 24,133 239,882 #* Sonus Networks, Inc. 2,030,582 6,091,746 #* Spansion, Inc. Class A 206,687 2,474,043 #* Spark Networks, Inc. 37,263 266,803 #* Speed Commerce, Inc. 256,846 942,625 * Stamps.com, Inc. 101,536 4,613,796 #* StarTek, Inc. 131,000 820,060 #* STR Holdings, Inc. 73,887 147,035 #* SunEdison, Inc. 1,431,312 13,311,202 #* SunPower Corp. 24,615 743,127 * Super Micro Computer, Inc. 229,315 3,192,065 Supertex, Inc. 126,805 3,234,796 * support.com, Inc. 316,882 1,413,294 #* Sykes Enterprises, Inc. 275,655 5,160,262 * Symmetricom, Inc. 448,192 3,213,537 #* Synaptics, Inc. 132,492 6,160,878 * Synchronoss Technologies, Inc. 87,313 3,022,776 Technical Communications Corp. 7,300 48,545 * TeleCommunication Systems, Inc. Class A 348,122 793,718 * Telenav, Inc. 121,945 884,101 * TeleTech Holdings, Inc. 112,807 2,986,001 Tellabs, Inc. 60,189 146,861 # Tessco Technologies, Inc. 64,382 2,281,054 Tessera Technologies, Inc. 393,564 7,485,587 * TheStreet, Inc. 233,363 548,403 Transact Technologies, Inc. 90,009 1,241,224 #* Travelzoo, Inc. 39,833 857,604 * Trio Tech International 3,392 11,363 #* TriQuint Semiconductor, Inc. 635,218 5,037,279 * Trulia, Inc. 26,381 1,054,449 TSR, Inc. 60,552 205,271 * TTM Technologies, Inc. 241,092 2,109,555 #* Tyler Technologies, Inc. 216,321 20,920,404 * Ultra Clean Holdings 117,034 1,089,587 * Ultratech, Inc. 221,887 5,278,692 #* Unisys Corp. 418,812 11,035,696 United Online, Inc. 750,414 6,483,577 #* Unwired Planet, Inc. 246,008 398,533 * USA Technologies, Inc. 7,207 13,765 #* UTStarcom Holdings Corp. 65,251 182,703 #* Veeco Instruments, Inc. 4,232 123,617 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ------------ Information Technology -- (Continued) #* Viasystems Group, Inc. 150,028 $ 2,250,420 * Vicon Industries, Inc. 45,650 134,667 * Video Display Corp. 85,637 310,006 #* Virtusa Corp. 218,822 6,800,988 * Vishay Precision Group, Inc. 107,071 1,755,964 #* Vocus, Inc. 22,142 191,528 #* Vringo, Inc. 68,946 194,428 # Wayside Technology Group, Inc. 30,941 405,327 #* Web.com Group, Inc. 339,044 9,137,236 #* WebMD Health Corp. 26,040 917,129 #* Westell Technologies, Inc. Class A 434,491 1,559,823 * Wireless Telecom Group, Inc. 225,386 403,441 * XO Group, Inc. 200,307 2,780,261 Xyratex, Ltd. 119,248 1,185,325 #* Zhone Technologies, Inc. 74,478 303,870 #* Zix Corp. 381,921 1,558,238 * Zygo Corp. 155,178 2,395,948 ------------ Total Information Technology 832,352,586 ------------ Materials -- (5.1%) A Schulman, Inc. 281,060 9,308,707 #* AEP Industries, Inc. 64,544 3,835,204 #* AM Castle & Co. 144,943 2,074,134 # AMCOL International Corp. 269,415 8,642,833 * American Biltrite, Inc. 868 351,648 * American Pacific Corp. 69,310 3,154,991 American Vanguard Corp. 221,138 5,771,702 #* Arabian American Development Co. 108,773 989,834 # Balchem Corp. 210,062 12,028,150 #* Calgon Carbon Corp. 480,904 9,594,035 #* Century Aluminum Co. 426,865 3,705,188 Chase Corp. 76,372 2,311,017 #* Clearwater Paper Corp. 181,584 9,482,316 * Coeur d'Alene Mines Corp. 5,229 63,846 #* Contango ORE, Inc. 1,592 14,646 * Continental Materials Corp. 14,518 253,920 #* Core Molding Technologies, Inc. 59,433 641,876 Deltic Timber Corp. 74,652 4,768,770 Detrex Corp. 10,200 323,850 * Ferro Corp. 207,832 2,666,485 # Flamemaster Corp. 189 1,961 #* Flotek Industries, Inc. 461,847 9,874,289 Friedman Industries, Inc. 61,530 610,378 FutureFuel Corp. 150,331 2,617,263 #* General Moly, Inc. 418,681 686,637 # Globe Specialty Metals, Inc. 157,442 2,761,533 #* Golden Minerals Co. 64,771 49,874 Hawkins, Inc. 101,706 3,662,433 Haynes International, Inc. 82,308 4,436,401 #* Headwaters, Inc. 279,940 2,443,876 #* Horsehead Holding Corp. 244,840 3,552,628 Innophos Holdings, Inc. 152,238 7,630,169 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ ------- ------------ Materials -- (Continued) Innospec, Inc. 181,449 $ 8,357,541 # Kaiser Aluminum Corp. 119,079 8,031,879 KapStone Paper and Packaging Corp. 331,563 17,228,013 # KMG Chemicals, Inc. 59,564 1,190,089 # Koppers Holdings, Inc. 145,103 6,458,535 #* Kraton Performance Polymers, Inc. 161,730 3,439,997 * Landec Corp. 260,705 3,052,856 #* LSB Industries, Inc. 168,059 6,171,126 #* Material Sciences Corp. 138,299 1,283,415 Materion Corp. 126,967 3,784,886 #* McEwen Mining, Inc. 264,097 565,168 #* Mercer International, Inc. 222,551 1,780,408 #* Mines Management, Inc. 33,421 20,053 Myers Industries, Inc. 294,104 5,240,933 # Neenah Paper, Inc. 116,955 4,811,529 # Noranda Aluminum Holding Corp. 147,274 400,585 * Northern Technologies International Corp. 38,414 653,422 # Olympic Steel, Inc. 78,258 2,141,921 * OM Group, Inc. 164,822 5,603,948 #* OMNOVA Solutions, Inc. 258,760 2,251,212 #* Penford Corp. 111,720 1,519,392 PH Glatfelter Co. 392,068 10,272,182 PolyOne Corp. 70,849 2,146,725 Quaker Chemical Corp. 109,006 8,274,645 * Resolute Forest Products, Inc. 4,200 67,158 #* Revett Minerals, Inc. 2,968 1,924 #* RTI International Metals, Inc. 218,034 7,391,353 # Schnitzer Steel Industries, Inc. Class A 65,784 1,910,367 Schweitzer-Mauduit International, Inc. 34,831 2,155,342 #* Senomyx, Inc. 241,135 892,199 #* Solitario Exploration & Royalty Corp. 2,939 2,616 Stepan Co. 167,791 9,877,856 * Stillwater Mining Co. 32,900 358,939 * SunCoke Energy, Inc. 7,443 148,860 # Synalloy Corp. 57,753 929,246 #* Texas Industries, Inc. 87,979 4,724,472 # Tredegar Corp. 328,579 9,601,078 * UFP Technologies, Inc. 11,800 271,990 * United States Lime & Minerals, Inc. 61,645 3,424,996 #* Universal Stainless & Alloy Products, Inc. 54,274 1,754,136 # US Silica Holdings, Inc. 2,439 84,926 #* Verso Paper Corp. 6,475 4,630 Vulcan International Corp. 8,251 266,095 # Wausau Paper Corp. 496,221 5,805,786 * Webco Industries, Inc. 3,750 390,000 Zep, Inc. 129,813 2,581,981 #* Zoltek Cos., Inc. 282,869 4,723,912 ------------ Total Materials 280,360,916 ------------ Other -- (0.0%) (d)* Allen Organ Co. Escrow Shares 4,700 -- (d)* Big 4 Ranch, Inc 35,000 -- U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ --------- ----------- Other -- (Continued) (d)* Brooklyn Federal Bancorp, Inc. Escrow Shares 37,150 $ -- (d)* Concord Camera Corp. Escrow Shares 49,560 -- (d)* DLB Oil & Gas, Inc. Escrow Shares 7,600 -- (d)* EquiMed, Inc 132 -- (d)* First Commerce Bancorp Escrow Shares 50,014 56,516 (d)* FRD Acquisition Co Escrow Shares 294,513 -- (d)#* Gerber Scientific, Inc. Escrow Shares 214,642 -- (d)* Petrocorp, Inc. Escrow Shares 37,100 2,226 ----------- Total Other 58,742 ----------- Telecommunication Services -- (0.9%) #* 8x8, Inc. 45,450 520,857 # Alaska Communications Systems Group, Inc. 38,055 93,615 # Alteva 46,410 355,036 Atlantic Tele-Network, Inc. 88,806 4,921,629 #* Boingo Wireless, Inc. 23,503 159,350 * Cbeyond, Inc. 163,307 1,051,697 * Cincinnati Bell, Inc. 765,803 2,190,197 # Consolidated Communications Holdings, Inc. 271,489 5,057,840 * General Communication, Inc. Class A 457,477 4,350,606 #* Hawaiian Telcom Holdco, Inc. 6,004 159,586 # HickoryTech Corp. 135,774 1,816,656 IDT Corp. Class B 197,207 4,316,861 Inteliquent, Inc. 251,981 3,237,956 #* Iridium Communications, Inc. 284,786 1,717,260 * Leap Wireless International, Inc. 104,000 1,674,400 * LICT Corp. 1 1,596 # Lumos Networks Corp. 116,700 2,568,567 # NTELOS Holdings Corp. 46,569 886,674 #* ORBCOMM, Inc. 227,142 1,369,666 * Premiere Global Services, Inc. 619,614 5,582,722 # PTGi Holding, Inc. 92,381 325,181 # Shenandoah Telecommunications Co. 92,090 2,553,656 #* Straight Path Communications, Inc. Class B 95,254 520,087 USA Mobility, Inc. 127,829 1,907,209 * Vonage Holdings Corp. 1,102,502 4,112,332 ----------- Total Telecommunication Services 51,451,236 ----------- Utilities -- (1.4%) American States Water Co. 352,904 10,050,706 # Artesian Resources Corp. Class A 21,573 494,022 #* Cadiz, Inc. 10,788 55,558 California Water Service Group 371,855 8,106,439 Chesapeake Utilities Corp. 81,052 4,410,039 # Connecticut Water Service, Inc. 85,638 2,744,698 # Consolidated Water Co., Ltd. 32,971 495,884 # Delta Natural Gas Co., Inc. 40,000 892,800 Empire District Electric Co. (The) 333,565 7,501,877 # Gas Natural, Inc. 21,793 217,276 * Genie Energy, Ltd. Class B 200,893 2,075,225 Laclede Group, Inc. (The) 164,449 7,740,614 # MGE Energy, Inc. 194,367 10,944,806 U.S. MICRO CAP PORTFOLIO CONTINUED SHARES VALUE+ ---------- -------------- Utilities -- (Continued) # Middlesex Water Co. 114,113 $ 2,365,562 # Northwest Natural Gas Co. 16,604 721,112 # Ormat Technologies, Inc. 50,693 1,321,567 # Otter Tail Corp. 253,812 7,571,212 # RGC Resources, Inc. 9,396 174,954 # SJW Corp. 176,960 4,995,581 * Synthesis Energy Systems, Inc. 17,851 11,817 Unitil Corp. 92,061 2,782,083 # York Water Co. 67,582 1,399,623 -------------- Total Utilities 77,073,455 -------------- TOTAL COMMON STOCKS 4,683,212,541 -------------- PREFERRED STOCKS -- (0.0%) Other -- (0.0%) (d)* Enron TOPRS 8.125PCT Escrow Shares 37,101 -- -------------- RIGHTS/WARRANTS -- (0.0%) (d)* Capital Bank Corp. Contingent Value Rights 12,543 -- (d)#* Dynegy, Inc. Warrants 10/02/17 23,626 27,406 (d)* LGL Group Inc (The) Warrants 08/06/18 146,250 14,625 (d)#* Magnum Hunter Resources Corp. Warrants 04/15/16 82,112 -- (d)#* PhotoMedex, Inc. Contingent Value Warrants 12/13/14 957 -- (d)* Tejon Ranch Co. Warrants 8/31/16 10,231 54,736 (d)* U.S. Concrete, Inc. Warrants Class A 08/31/17 15,030 60,120 (d)* U.S. Concrete, Inc. Warrants Class B 08/31/17 15,030 53,357 -------------- TOTAL RIGHTS/WARRANTS 210,244 -------------- TEMPORARY CASH INVESTMENTS -- (0.2%) State Street Institutional Liquid Reserves, 0.073% 12,694,109 12,694,109 -------------- SHARES/ FACE AMOUNT (000) ---------- SECURITIES LENDING COLLATERAL -- (15.1%) (S)@ DFA Short Term Investment Fund 72,160,431 834,896,185 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $3,910,422,847) $5,531,013,079 ============== DFA REAL ESTATE SECURITIES PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 SHARES VALUE+ --------- ------------ COMMON STOCKS -- (90.1%) Real Estate Investment Trusts -- (90.1%) Acadia Realty Trust 534,055 $ 14,243,247 # Agree Realty Corp. 106,694 3,368,330 # Alexander's, Inc. 48,381 15,567,071 Alexandria Real Estate Equities, Inc. 695,800 45,769,724 # American Assets Trust, Inc. 61,316 2,041,210 American Campus Communities, Inc. 1,021,570 35,305,459 # American Realty Capital Properties, Inc. 606,704 8,050,962 Apartment Investment & Management Co. Class A 1,422,561 39,803,257 Ashford Hospitality Trust, Inc. 746,098 9,744,040 Associated Estates Realty Corp. 479,578 7,356,726 AvalonBay Communities, Inc. 1,187,772 148,530,889 BioMed Realty Trust, Inc. 1,873,201 37,314,164 # Boston Properties, Inc. 1,469,768 152,120,988 # Brandywine Realty Trust 1,527,386 21,734,703 # BRE Properties, Inc. 748,334 40,866,520 # Camden Property Trust 813,176 52,205,899 # Campus Crest Communities, Inc. 414,182 4,145,962 CapLease, Inc. 446,181 3,792,538 # CBL & Associates Properties, Inc. 1,573,700 31,174,997 Cedar Realty Trust, Inc. 568,520 3,246,249 Chatham Lodging Trust 43,035 811,640 Chesapeake Lodging Trust 144,153 3,397,686 CommonWealth REIT 856,678 20,877,243 # Corporate Office Properties Trust 831,110 20,445,306 # Cousins Properties, Inc. 1,258,099 14,254,262 # CubeSmart 1,251,587 22,866,494 DCT Industrial Trust, Inc. 3,084,629 23,905,875 # DDR Corp. 2,687,030 45,545,158 DiamondRock Hospitality Co. 1,905,815 21,707,233 # Digital Realty Trust, Inc. 1,252,136 59,676,802 Douglas Emmett, Inc. 1,306,857 32,579,945 # Duke Realty Corp. 3,169,047 52,511,109 # DuPont Fabros Technology, Inc. 618,519 15,370,197 # EastGroup Properties, Inc. 296,583 18,880,474 Education Realty Trust, Inc. 1,119,378 10,231,115 EPR Properties 459,789 23,619,361 Equity Lifestyle Properties, Inc. 767,442 29,155,122 # Equity One, Inc. 651,135 15,698,865 Equity Residential 3,311,495 173,389,878 # Essex Property Trust, Inc. 361,408 58,186,688 # Excel Trust, Inc. 232,883 2,813,227 Extra Space Storage, Inc. 1,019,883 46,904,419 Federal Realty Investment Trust 634,951 65,780,924 #* FelCor Lodging Trust, Inc. 1,096,074 7,365,617 First Industrial Realty Trust, Inc. 1,018,552 18,405,235 First Potomac Realty Trust 525,982 6,464,319 # Franklin Street Properties Corp. 741,904 9,793,133 # General Growth Properties, Inc. 4,695,708 99,689,881 Getty Realty Corp. 179,211 3,437,267 # Gladstone Commercial Corp. 38,856 734,378 Glimcher Realty Trust 1,388,892 14,236,143 DFA REAL ESTATE SECURITIES PORTFOLIO CONTINUED SHARES VALUE+ --------- ------------ Real Estate Investment Trusts -- (Continued) # Government Properties Income Trust 531,145 $ 12,986,495 HCP, Inc. 4,408,569 182,955,613 # Health Care REIT, Inc. 2,764,928 179,305,581 Healthcare Realty Trust, Inc. 918,166 22,045,166 Hersha Hospitality Trust 1,761,385 9,987,053 # Highwoods Properties, Inc. 861,200 33,242,320 # HMG Courtland Properties 2,500 50,625 # Home Properties, Inc. 540,171 32,577,713 Hospitality Properties Trust 1,362,466 40,029,251 # Host Hotels & Resorts, Inc. 7,174,023 133,078,127 Hudson Pacific Properties, Inc. 120,063 2,484,103 # Inland Real Estate Corp. 856,252 9,153,334 Investors Real Estate Trust 464,318 4,002,421 Kilroy Realty Corp. 737,362 39,198,164 Kimco Realty Corp. 3,993,958 85,790,218 Kite Realty Group Trust 775,527 4,963,373 LaSalle Hotel Properties 914,451 28,393,703 Lexington Realty Trust 1,887,096 22,079,023 Liberty Property Trust 1,234,123 45,897,034 LTC Properties, Inc. 265,528 10,475,080 # Macerich Co. (The) 1,365,999 80,880,801 # Mack-Cali Realty Corp. 809,647 16,646,342 # Medical Properties Trust, Inc. 1,550,786 20,222,249 # Mid-America Apartment Communities, Inc. 673,731 44,735,738 Monmouth Real Estate Investment Corp. Class A 293,345 2,704,641 # National Health Investors, Inc. 144,083 9,008,069 # National Retail Properties, Inc. 1,179,889 40,588,182 # Omega Healthcare Investors, Inc. 1,113,809 37,023,011 One Liberty Properties, Inc. 106,835 2,258,492 Parkway Properties Inc/Md 340,537 6,167,125 # Pebblebrook Hotel Trust 170,647 5,153,539 Pennsylvania REIT 639,341 11,591,252 Piedmont Office Realty Trust, Inc. Class A 1,593,397 29,445,977 Post Properties, Inc. 526,602 24,086,775 Prologis, Inc. 4,760,982 190,201,231 PS Business Parks, Inc. 186,569 15,203,508 Public Storage 1,371,481 228,996,183 Ramco-Gershenson Properties Trust 569,510 9,260,233 # Realty Income Corp. 1,888,595 78,659,982 # Regency Centers Corp. 890,192 45,987,319 # Retail Opportunity Investments Corp. 449,734 6,656,063 # Retail Properties of America, Inc. Class A 522,524 7,477,318 RLJ Lodging Trust 521,231 13,166,295 #* Roberts Realty Investors, Inc. 47,739 50,126 # Rouse Properties, Inc. 168,193 3,400,862 # Ryman Hospitality Properties 428,216 15,805,453 # Sabra Health Care REIT, Inc. 360,692 9,702,615 Saul Centers, Inc. 141,146 6,633,862 # Senior Housing Properties Trust 1,809,267 44,580,339 Simon Property Group, Inc. 2,902,908 448,644,431 # SL Green Realty Corp. 882,170 83,426,817 Sotherly Hotels, Inc. 78,466 358,590 DFA REAL ESTATE SECURITIES PORTFOLIO CONTINUED SHARES VALUE+ ---------- -------------- Real Estate Investment Trusts -- (Continued) Sovran Self Storage, Inc. 299,074 $ 22,876,170 * Strategic Hotels & Resorts, Inc. 1,577,956 13,728,217 Summit Hotel Properties, Inc. 261,972 2,407,523 # Sun Communities, Inc. 301,935 13,457,243 Sunstone Hotel Investors, Inc. 1,580,018 20,935,238 #* Supertel Hospitality, Inc. 21,897 120,652 # Tanger Factory Outlet Centers 896,460 31,241,631 Taubman Centers, Inc. 606,482 39,900,451 # UDR, Inc. 2,381,995 59,097,296 # UMH Properties, Inc. 110,303 1,109,648 # Universal Health Realty Income Trust 110,520 4,854,038 # Urstadt Biddle Properties, Inc. 76,760 1,266,540 Urstadt Biddle Properties, Inc. Class A 188,503 3,721,049 Ventas, Inc. 2,812,708 183,501,070 # Vornado Realty Trust 1,600,928 142,578,648 # Washington REIT 631,729 16,557,617 # Weingarten Realty Investors 1,100,402 34,915,755 # Whitestone REIT 35,537 490,055 Winthrop Realty Trust 279,260 3,286,890 # WP Carey, Inc. 27,575 1,836,771 -------------- TOTAL COMMON STOCKS 4,650,418,250 -------------- TEMPORARY CASH INVESTMENTS -- (0.3%) State Street Institutional Liquid Reserves, 0.073% 14,133,145 14,133,145 -------------- SHARES/ FACE AMOUNT (000) ---------- SECURITIES LENDING COLLATERAL -- (9.6%) (S)@ DFA Short Term Investment Fund 43,040,993 497,984,294 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $3,829,858,283) $5,162,535,689 ============== LARGE CAP INTERNATIONAL PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 SHARES VALUE++ ------- ----------- COMMON STOCKS -- (91.6%) AUSTRALIA -- (6.7%) Adelaide Brighton, Ltd. 115,791 $ 421,441 AGL Energy, Ltd. 84,371 1,246,380 # ALS Ltd/Queensland 58,224 550,783 * Alumina, Ltd. 539,758 524,790 Amcor, Ltd. 215,725 2,209,969 Amcor, Ltd. Sponsored ADR 1,068 43,873 AMP, Ltd. 612,039 2,742,509 # Ansell, Ltd. 24,592 453,262 # APA Group 133,897 767,174 #* Aquarius Platinum, Ltd. 71,827 47,009 #* Aquila Resources, Ltd. 15,814 33,735 Aristocrat Leisure, Ltd. 72,046 344,015 Asciano, Ltd. 213,959 1,175,030 ASX, Ltd. 42,112 1,462,787 # Atlas Iron, Ltd. 180,615 176,017 Aurizon Holdings, Ltd. 279,533 1,265,374 Australia & New Zealand Banking Group, Ltd. 528,683 16,918,041 Australian Infrastructure Fund 15,128 100 # Bank of Queensland, Ltd. 81,724 932,261 Beach Energy, Ltd. 143,697 194,091 Bendigo and Adelaide Bank, Ltd. 106,052 1,091,783 BHP Billiton, Ltd. 460,036 16,263,826 # BHP Billiton, Ltd. Sponsored ADR 65,589 4,636,486 #* BlueScope Steel, Ltd. 142,412 671,740 # Boart Longyear, Ltd. 68,717 27,851 # Boral, Ltd. 212,927 993,540 Brambles, Ltd. 282,996 2,484,346 Caltex Australia, Ltd. 34,651 605,461 carsales.com, Ltd. 29,538 293,323 Challenger, Ltd. 79,173 449,153 Coca-Cola Amatil, Ltd. 108,337 1,320,220 Cochlear, Ltd. 10,877 604,345 Commonwealth Bank of Australia 294,908 21,234,117 Computershare, Ltd. 89,091 904,131 Crown, Ltd. 72,744 1,159,707 CSL, Ltd. 91,869 6,038,999 # David Jones, Ltd. 24,134 62,025 Downer EDI, Ltd. 33,901 157,504 DUET Group 237,006 481,099 Echo Entertainment Group, Ltd. 175,552 440,605 # Fairfax Media, Ltd. 420,361 240,015 Flight Centre, Ltd. 9,382 460,593 Fortescue Metals Group, Ltd. 280,662 1,376,476 GrainCorp, Ltd. Class A 49,956 582,447 # Harvey Norman Holdings, Ltd. 136,776 420,883 Iluka Resources, Ltd. 84,278 818,039 Incitec Pivot, Ltd. 346,614 872,055 Insurance Australia Group, Ltd. 394,169 2,301,912 # James Hardie Industries P.L.C. 62,750 649,040 James Hardie Industries P.L.C. Sponsored ADR 500 26,040 # JB Hi-Fi, Ltd. 7,970 164,245 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ ------- ------------ AUSTRALIA -- (Continued) # Leighton Holdings, Ltd. 32,923 $ 557,742 Lend Lease Group 127,069 1,370,296 Macquarie Group, Ltd. 70,295 3,381,160 Metcash, Ltd. 151,507 479,462 Mineral Resources, Ltd. 17,001 181,772 # Monadelphous Group, Ltd. 13,554 232,567 National Australia Bank, Ltd. 468,608 15,661,273 # New Hope Corp., Ltd. 25,495 90,983 # Newcrest Mining, Ltd. 140,601 1,363,363 # Oil Search, Ltd. 184,832 1,485,969 Orica, Ltd. 72,396 1,441,278 Origin Energy, Ltd. 246,628 3,409,499 # OZ Minerals, Ltd. 90,750 309,325 PanAust, Ltd. 76,201 144,611 Platinum Asset Management, Ltd. 18,543 108,117 # Primary Health Care, Ltd. 136,072 634,833 #* Qantas Airways, Ltd. 257,003 302,149 QBE Insurance Group, Ltd. 237,148 3,321,087 Ramsay Health Care, Ltd. 24,094 884,486 # REA Group, Ltd. 12,767 501,077 Reece Australia, Ltd. 7,839 207,328 # Regis Resources, Ltd. 78,025 254,232 Rio Tinto, Ltd. 85,633 5,152,724 Santos, Ltd. 214,222 3,065,949 # Seek, Ltd. 55,981 687,745 # Seven Group Holdings, Ltd. 18,118 142,710 Seven West Media, Ltd. 115,125 274,298 * Sims Metal Management, Ltd. 40,715 385,663 Sonic Healthcare, Ltd. 65,650 1,002,162 # SP AusNet 226,926 268,073 Spark Infrastructure Group 197,592 316,478 Suncorp Group, Ltd. 271,375 3,421,875 Super Retail Group, Ltd. 23,773 301,132 Sydney Airport 29,029 114,967 Tabcorp Holdings, Ltd. 148,032 503,497 Tatts Group, Ltd. 357,003 1,060,042 Telstra Corp., Ltd. 809,276 3,960,008 Toll Holdings, Ltd. 167,982 915,134 TPG Telecom, Ltd. 56,141 247,504 Transurban Group 205,728 1,380,098 Treasury Wine Estates, Ltd. 149,076 662,052 # UGL, Ltd. 27,924 194,197 # Washington H Soul Pattinson & Co., Ltd. 13,478 191,957 Wesfarmers, Ltd. 198,337 8,048,306 Westpac Banking Corp. 511,050 16,592,333 # Westpac Banking Corp. Sponsored ADR 88,010 2,873,527 #* Whitehaven Coal, Ltd. 44,805 68,632 Woodside Petroleum, Ltd. 128,194 4,699,580 Woolworths, Ltd. 225,317 7,430,151 # WorleyParsons, Ltd. 42,621 887,538 ------------ TOTAL AUSTRALIA 200,511,588 ------------ LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- AUSTRIA -- (0.2%) Andritz AG 11,015 $ 678,323 # Erste Group Bank AG 58,876 2,067,124 # EVN AG 626 9,540 IMMOFINANZ AG 154,486 676,584 # OMV AG 30,731 1,465,950 # Raiffeisen Bank International AG 8,039 294,870 Strabag SE 3,236 85,058 Telekom Austria AG 40,443 332,473 Telekom Austria AG ADR 2,400 39,912 Verbund AG 10,202 239,320 Vienna Insurance Group AG Wiener Versicherung Gruppe 6,221 329,109 Voestalpine AG 26,623 1,255,954 ----------- TOTAL AUSTRIA 7,474,217 ----------- BELGIUM -- (1.0%) Ackermans & van Haaren NV 220 23,827 # Ageas 50,538 2,147,558 Anheuser-Busch InBev NV 120,883 12,531,168 Anheuser-Busch InBev NV Sponsored ADR 26,194 2,717,104 # Belgacom SA 29,191 798,711 Colruyt SA 14,358 800,997 # Delhaize Group SA 13,452 859,105 Delhaize Group SA Sponsored ADR 12,271 784,608 KBC Groep NV 53,994 2,941,672 Mobistar SA 3,728 64,621 # Solvay SA 14,329 2,240,525 Telenet Group Holding NV 7,110 389,701 # UCB SA 23,752 1,559,124 Umicore SA 27,619 1,315,187 ----------- TOTAL BELGIUM 29,173,908 ----------- CANADA -- (8.7%) Agnico Eagle Mines, Ltd.(008474108) 8,852 261,400 Agnico Eagle Mines, Ltd.(2009823) 28,754 853,809 Agrium, Inc.(008916108) 5,503 469,516 Agrium, Inc.(2213538) 25,300 2,159,593 Aimia, Inc. 36,747 649,544 # Alamos Gold, Inc. 18,300 291,529 Alimentation Couche Tard, Inc. Class B 23,550 1,595,071 # AltaGas, Ltd. 22,210 822,238 # ARC Resources, Ltd. 51,633 1,370,739 # Atco, Ltd. Class I 12,104 561,754 # AuRico Gold, Inc. 69,300 287,795 Bank of Montreal(063671101) 29,657 2,067,093 # Bank of Montreal(2076009) 103,390 7,201,057 Bank of Nova Scotia(064149107) 29,163 1,772,236 Bank of Nova Scotia(2076281) 196,436 11,942,721 Barrick Gold Corp.(067901108) 9,257 179,493 Barrick Gold Corp.(2024644) 182,576 3,551,183 # Baytex Energy Corp. 19,207 801,696 BCE, Inc.(05534B760) 5,004 217,824 # BCE, Inc.(B188TH2) 41,373 1,800,310 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- CANADA -- (Continued) # Bell Aliant, Inc. 14,509 $ 367,508 #* BlackBerry, Ltd.(09228F103) 27,932 220,942 #* BlackBerry, Ltd.(BCBHZ31) 88,001 694,623 Bombardier, Inc. Class A 15,935 72,901 Bombardier, Inc. Class B 287,800 1,308,370 Bonavista Energy Corp. 39,535 456,151 Brookfield Asset Management, Inc. Class A 85,895 3,400,705 # Brookfield Office Properties, Inc. 43,429 811,391 * Brookfield Residential Properties, Inc. 5,760 127,181 # CAE, Inc. 46,736 535,650 Cameco Corp.(13321L108) 11,225 213,275 Cameco Corp.(2166160) 74,660 1,417,083 Canadian Imperial Bank of Commerce(136069101) 9,630 819,995 # Canadian Imperial Bank of Commerce(2170525) 68,338 5,813,629 Canadian National Railway Co.(136375102) 7,917 870,316 # Canadian National Railway Co.(2180632) 72,280 7,940,991 Canadian Natural Resources, Ltd.(136385101) 30,916 981,583 Canadian Natural Resources, Ltd.(2171573) 201,409 6,392,005 # Canadian Oil Sands, Ltd. 89,147 1,737,368 Canadian Pacific Railway, Ltd.(13645T100) 2,081 297,729 Canadian Pacific Railway, Ltd.(2793115) 31,800 4,545,602 # Canadian Tire Corp., Ltd. Class A 17,899 1,661,406 Canadian Utilities, Ltd. Class A 18,040 662,842 # Canadian Western Bank 20,014 641,891 * Canfor Corp. 17,600 364,778 # Capital Power Corp. 5,746 119,037 * Catamaran Corp.(148887102) 16,416 770,895 * Catamaran Corp.(B8J4N87) 23,600 1,107,286 CCL Industries, Inc. Class B 600 41,203 Cenovus Energy, Inc.(15135U109) 22,581 671,107 Cenovus Energy, Inc.(B57FG04) 118,282 3,514,484 Centerra Gold, Inc. 25,000 99,986 * CGI Group, Inc. Class A(39945C109) 7,329 245,961 #* CGI Group, Inc. Class A(2159740) 32,000 1,073,572 # CI Financial Corp. 23,805 791,788 # Cineplex, Inc. 2,533 102,034 Cogeco Cable, Inc. 1,900 89,838 Constellation Software, Inc. 2,400 437,209 # Corus Entertainment, Inc. Class B 6,346 147,900 # Crescent Point Energy Corp. 75,017 2,913,191 Dollarama, Inc. 10,900 936,899 Eldorado Gold Corp.(284902103) 27,183 183,485 Eldorado Gold Corp.(2307873) 124,500 839,433 Emera, Inc. 4,347 128,161 Empire Co., Ltd. 7,970 586,905 # Enbridge, Inc.(29250N105) 6,231 270,363 # Enbridge, Inc.(2466149) 118,152 5,122,016 Encana Corp.(292505104) 38,694 693,396 # Encana Corp.(2793193) 100,752 1,805,062 Enerplus Corp.(292766102) 2,200 37,994 # Enerplus Corp.(B584T89) 40,055 691,113 Ensign Energy Services, Inc. 34,131 583,335 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- CANADA -- (Continued) Fairfax Financial Holdings, Ltd. 4,356 $1,900,906 Finning International, Inc. 30,300 698,616 # First Capital Realty, Inc. 15,250 265,027 * First Majestic Silver Corp. 14,200 160,706 First Quantum Minerals, Ltd. 118,931 2,256,223 # Fortis, Inc. 29,107 905,328 # Franco-Nevada Corp. 13,725 617,503 # Genworth MI Canada, Inc. 9,000 283,211 George Weston, Ltd. 9,467 771,234 # Gibson Energy, Inc. 24,400 599,323 Gildan Activewear, Inc.(375916103) 3,000 144,900 Gildan Activewear, Inc.(2254645) 18,100 872,494 Goldcorp, Inc.(380956409) 22,904 582,449 Goldcorp, Inc.(2676302) 145,746 3,712,668 # Great-West Lifeco, Inc. 54,000 1,670,263 # Husky Energy, Inc. 65,628 1,865,644 IAMGOLD Corp.(450913108) 18,510 94,401 IAMGOLD Corp.(2446646) 78,400 400,779 # IGM Financial, Inc. 21,900 1,055,250 Imperial Oil, Ltd.(453038408) 9,400 410,310 Imperial Oil, Ltd.(2454241) 48,227 2,105,956 Industrial Alliance Insurance & Financial Services, Inc. 25,869 1,160,154 Intact Financial Corp. 26,700 1,665,277 # Jean Coutu Group PJC, Inc. (The) Class A 16,500 291,656 * Katanga Mining, Ltd. 8,600 4,537 * Kelt Exploration, Ltd. 6,850 56,500 # Keyera Corp. 13,100 775,207 Kinross Gold Corp.(496902404) 22,897 116,088 Kinross Gold Corp.(B03Z841) 213,279 1,084,140 # Lightstream Resources, Ltd. 21,001 134,951 # Loblaw Cos., Ltd. 22,160 1,013,581 #* Lundin Mining Corp. 110,040 496,032 MacDonald Dettwiler & Associates, Ltd. 4,900 373,850 Magna International, Inc.(559222401) 10,503 889,604 # Magna International, Inc.(2554475) 40,160 3,401,457 Manitoba Telecom Services, Inc. 4,500 127,190 Manulife Financial Corp.(56501R106) 63,866 1,130,428 Manulife Financial Corp.(2492519) 322,943 5,720,767 * MEG Energy Corp. 27,605 883,498 # Methanex Corp. 18,580 1,077,574 Metro, Inc. 17,201 1,076,125 # Mullen Group, Ltd. 10,500 281,370 National Bank of Canada 32,640 2,832,463 #* New Gold, Inc. 82,300 483,073 #* Niko Resources, Ltd. 8,000 25,704 Onex Corp. 16,704 882,581 Open Text Corp.(683715106) 1,758 128,932 Open Text Corp.(2260824) 9,100 668,721 * Osisko Mining Corp. 78,002 380,790 Pacific Rubiales Energy Corp. 62,872 1,300,675 Pan American Silver Corp.(697900108) 12,528 132,922 Pan American Silver Corp.(2669272) 33,400 354,934 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- CANADA -- (Continued) * Paramount Resources, Ltd. Class A 8,900 $ 308,404 * Pembina Pipeline Corp.(B4PPQG5) 9,034 296,315 # Pembina Pipeline Corp.(B4PT2P8) 45,132 1,480,815 # Pengrowth Energy Corp. 114,351 734,812 # Penn West Petroleum, Ltd. 95,909 1,070,715 # Petrominerales, Ltd. 2,609 30,002 # Peyto Exploration & Development Corp. 24,300 732,275 Potash Corp. of Saskatchewan, Inc.(73755L107) 31,604 982,884 # Potash Corp. of Saskatchewan, Inc.(2696980) 136,400 4,238,584 # Precision Drilling Corp. 51,894 548,977 # Progressive Waste Solutions, Ltd. 20,742 557,218 # Quebecor, Inc. Class B 22,000 543,960 # Ritchie Bros Auctioneers, Inc. 16,700 330,108 # Rogers Communications, Inc. Class B(2169051) 58,900 2,673,139 Rogers Communications, Inc. Class B(775109200) 10,393 471,946 Royal Bank of Canada(780087102) 23,478 1,577,252 # Royal Bank of Canada(2754383) 243,989 16,385,278 # Saputo, Inc. 23,200 1,147,929 # SEMAFO, Inc. 48,000 130,283 Shaw Communications, Inc. Class B(82028K200) 17,583 420,761 # Shaw Communications, Inc. Class B(2801836) 52,434 1,254,212 ShawCor, Ltd. 9,400 395,149 Shoppers Drug Mart Corp. 35,500 2,074,196 Silver Wheaton Corp.(828336107) 6,218 140,962 Silver Wheaton Corp.(B058ZX6) 54,277 1,231,663 SNC-Lavalin Group, Inc. 29,200 1,226,924 Sun Life Financial, Inc.(866796105) 26,327 886,167 # Sun Life Financial, Inc.(2566124) 101,431 3,416,541 Suncor Energy, Inc.(867224107) 40,977 1,489,514 # Suncor Energy, Inc.(B3NB1P2) 279,079 10,141,757 Talisman Energy, Inc.(87425E103) 65,812 821,334 Talisman Energy, Inc.(2068299) 139,555 1,740,004 Teck Resources, Ltd. Class B(878742204) 11,214 299,862 # Teck Resources, Ltd. Class B(2879327) 106,334 2,845,364 # TELUS Corp. 39,380 1,375,552 Thomson Reuters Corp.(884903105) 18,394 691,063 # Thomson Reuters Corp.(2889371) 59,250 2,226,456 Tim Hortons, Inc.(88706M103) 3,807 227,430 Tim Hortons, Inc.(B4R2V25) 25,200 1,504,290 TMX Group, Ltd. 400 18,242 Toronto-Dominion Bank (The)(891160509) 17,518 1,606,751 # Toronto-Dominion Bank (The)(2897222) 160,784 14,748,364 * Tourmaline Oil Corp. 25,046 971,189 # TransAlta Corp.(2901628) 48,700 655,312 TransAlta Corp.(89346D107) 5,400 72,738 TransCanada Corp.(89353D107) 14,710 663,568 TransCanada Corp.(2665184) 116,088 5,231,837 # Trican Well Service, Ltd. 25,700 361,104 # Trilogy Energy Corp. 10,639 312,134 #* Turquoise Hill Resources, Ltd.(900435108) 34,231 164,993 #* Turquoise Hill Resources, Ltd.(B7WJ1F5) 46,919 226,349 * Valeant Pharmaceuticals International, Inc.(91911K102) 11,297 1,194,319 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ ------- ------------ CANADA -- (Continued) * Valeant Pharmaceuticals International, Inc.(B3XSX46) 47,572 $ 5,025,709 # Veresen, Inc. 37,288 461,339 # Vermilion Energy, Inc. 13,627 749,018 West Fraser Timber Co., Ltd. 10,192 934,206 Westshore Terminals Investment Corp. 6,600 217,310 Yamana Gold, Inc.(98462Y100) 41,099 408,113 Yamana Gold, Inc.(2219279) 135,044 1,339,237 ------------ TOTAL CANADA 259,552,070 ------------ DENMARK -- (1.1%) AP Moeller - Maersk A.S. Class A 108 975,226 AP Moeller - Maersk A.S. Class B 247 2,389,717 Carlsberg A.S. Class B 22,525 2,249,931 Chr Hansen Holding A.S. 17,806 659,773 Coloplast A.S. Class B 20,400 1,330,583 * Danske Bank A.S. 132,260 3,090,360 DSV A.S. 37,155 1,087,013 # FLSmidth & Co. A.S. 12,362 616,980 GN Store Nord A.S. 39,910 910,459 H Lundbeck A.S. 13,909 298,648 * Jyske Bank A.S. 1,122 63,438 Novo Nordisk A.S. Class B 47,669 7,939,395 # Novo Nordisk A.S. Sponsored ADR 23,311 3,885,244 Novozymes A.S. Class B 43,813 1,715,957 Pandora A.S. 12,731 606,852 Rockwool International A.S. Class B 1,012 159,175 TDC A.S. 137,663 1,243,525 * Topdanmark A.S. 21,510 585,456 Tryg A.S. 4,170 380,795 #* Vestas Wind Systems A.S. 40,932 1,096,848 * William Demant Holding A.S. 4,502 445,819 ------------ TOTAL DENMARK 31,731,194 ------------ FINLAND -- (0.8%) # Elisa Oyj 27,937 699,927 Fortum Oyj 96,327 2,148,761 # Kesko Oyj Class B 16,039 532,976 Kone Oyj Class B 25,477 2,246,108 # Metso Oyj 27,047 1,064,573 Neste Oil Oyj 25,438 504,393 * Nokia Oyj 566,548 4,306,206 * Nokia Oyj Sponsored ADR 184,400 1,406,972 Nokian Renkaat Oyj 19,459 984,162 Orion Oyj Class A 2,568 68,757 Orion Oyj Class B 11,844 318,322 Pohjola Bank P.L.C. Class A 42,276 769,876 Sampo Class A 79,924 3,780,459 Stora Enso Oyj Class R 132,987 1,234,900 Stora Enso Oyj Sponsored ADR 12,000 111,360 UPM-Kymmene Oyj 117,256 1,861,702 UPM-Kymmene Oyj Sponsored ADR 13,000 206,700 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- FINLAND -- (Continued) Wartsila Oyj Abp 28,873 $ 1,281,137 ----------- TOTAL FINLAND 23,527,291 ----------- FRANCE -- (8.2%) Accor SA 31,259 1,397,149 Aeroports de Paris 5,523 589,934 Air Liquide SA 58,355 7,931,242 * Alcatel-Lucent 469,735 1,799,581 * Alcatel-Lucent Sponsored ADR 128,100 490,623 Alstom SA 38,664 1,435,241 Arkema SA 11,985 1,355,927 AtoS 11,687 996,204 AXA SA 303,324 7,557,449 AXA SA Sponsored ADR 66,900 1,673,169 BioMerieux 1,600 160,595 BNP Paribas SA 204,665 15,098,779 Bollore SA(4572709) 1,187 647,294 * Bollore SA(BDGTH22) 6 3,291 Bouygues SA 43,968 1,715,491 Bureau Veritas SA 35,384 1,067,386 Cap Gemini SA 35,266 2,312,673 Carrefour SA 113,012 4,125,225 Casino Guichard Perrachon SA 11,574 1,300,974 * CGG 20,644 453,753 * CGG Sponsored ADR 16,707 366,719 Christian Dior SA 10,225 1,940,057 Cie de St-Gobain 91,554 4,805,674 Cie Generale des Etablissements Michelin 38,957 4,059,237 Ciments Francais SA 1,006 72,051 CNP Assurances 40,763 718,085 * Credit Agricole SA 218,148 2,622,912 Danone SA 103,354 7,654,826 Danone SA Sponsored ADR 12,058 179,544 Dassault Systemes SA 11,170 1,356,994 Edenred 33,851 1,149,160 Eiffage SA 7,936 470,313 Electricite de France SA 46,141 1,614,838 # Eramet 1,441 136,839 Essilor International SA 36,096 3,868,240 Euler Hermes SA 2,795 369,008 European Aeronautic Defence and Space Co. NV 103,593 7,098,661 Eutelsat Communications SA 19,401 613,612 * Faurecia 7,078 206,280 GDF Suez(B0C2CQ3) 274,876 6,812,461 GDF Suez(B3B9KQ2) 11,445 16 Groupe Eurotunnel SA 106,001 1,026,184 * Groupe Fnac 1,746 48,795 Iliad SA 4,039 922,478 Imerys SA 6,518 522,872 Ipsen SA 2,070 90,671 JCDecaux SA 11,726 469,980 Kering 14,471 3,279,572 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ ------- ------------ FRANCE -- (Continued) L'Oreal SA 44,850 $ 7,657,990 Lafarge SA 42,346 2,921,678 Lafarge SA Sponsored ADR 1,800 31,104 Lagardere SCA 26,506 962,943 Legrand SA 46,134 2,614,673 LVMH Moet Hennessy Louis Vuitton SA 47,845 9,186,018 Metropole Television SA 7,985 183,682 Natixis 180,095 968,479 # Neopost SA 3,126 236,016 Orange 321,929 4,425,261 Orange SA ADR 46,387 636,893 Pernod-Ricard SA 39,241 4,713,178 #* Peugeot SA 55,640 731,943 Publicis Groupe SA 31,778 2,642,639 Publicis Groupe SA ADR 4,537 94,778 Remy Cointreau SA 5,224 514,572 Renault SA 43,170 3,766,592 Rexel SA 36,614 916,917 Sa des Ciments Vicat 1,981 148,019 Safran SA 42,569 2,714,114 Sanofi 180,968 19,295,374 Sanofi ADR 101,350 5,420,198 # Schneider Electric SA 98,689 8,304,449 SCOR SE 41,542 1,466,261 SEB SA 3,563 319,695 SES SA 49,630 1,443,532 Societe BIC SA 5,723 714,659 Societe Generale SA 146,745 8,289,552 Sodexo 16,625 1,618,003 STMicroelectronics NV 160,669 1,235,867 Suez Environnement Co. 36,564 637,577 Technip SA 15,655 1,639,683 Technip SA ADR 14,400 379,008 Thales SA 19,704 1,206,787 Total SA 261,686 16,055,204 # Total SA Sponsored ADR 157,489 9,635,177 Valeo SA 14,841 1,468,209 Vallourec SA 25,439 1,514,171 Veolia Environnement SA 42,330 726,200 Veolia Environnement SA ADR 17,086 294,050 Vinci SA 92,546 5,921,665 Vivendi SA 247,477 6,266,036 Zodiac Aerospace 5,909 945,481 ------------ TOTAL FRANCE 245,452,386 ------------ GERMANY -- (7.0%) Adidas AG 38,294 4,363,429 Allianz SE 67,247 11,290,927 Allianz SE ADR 250,286 4,212,313 # Axel Springer AG 8,985 542,156 BASF SE 164,609 17,088,800 BASF SE Sponsored ADR 8,200 851,980 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- GERMANY -- (Continued) Bayer AG 118,085 $14,648,707 Bayer AG Sponsored ADR 33,435 4,169,345 Bayerische Motoren Werke AG 64,043 7,248,286 Beiersdorf AG 18,004 1,716,742 Bilfinger SE 8,723 967,994 Brenntag AG 9,185 1,554,187 # Celesio AG 17,682 549,732 * Commerzbank AG 205,322 2,625,993 Continental AG 20,557 3,759,192 Daimler AG 185,463 15,184,741 Deutsche Bank AG(5750355) 34,358 1,660,491 Deutsche Bank AG(D18190898) 173,068 8,362,646 Deutsche Boerse AG 33,348 2,508,671 * Deutsche Lufthansa AG 48,197 931,794 Deutsche Post AG 168,341 5,685,107 Deutsche Telekom AG 460,408 7,235,176 Deutsche Telekom AG Sponsored ADR 95,900 1,514,261 E.ON SE 309,064 5,633,770 E.ON SE Sponsored ADR 53,950 984,588 Fielmann AG 1,995 223,105 Fraport AG Frankfurt Airport Services Worldwide 6,778 524,368 Fresenius Medical Care AG & Co. KGaA 35,955 2,376,130 Fresenius Medical Care AG & Co. KGaA ADR 14,200 467,464 Fresenius SE & Co. KGaA 24,592 3,192,372 Fuchs Petrolub AG 3,001 204,016 GEA Group AG 35,864 1,558,749 Hannover Rueck SE 14,759 1,181,183 HeidelbergCement AG 31,631 2,490,613 Henkel AG & Co. KGaA 23,991 2,212,647 Hochtief AG 7,242 655,002 Hugo Boss AG 4,628 602,874 Infineon Technologies AG 229,662 2,221,826 # K+S AG 26,075 662,555 Lanxess AG 16,572 1,163,881 Linde AG 35,642 6,765,760 MAN SE 7,842 944,719 Merck KGaA 11,902 1,979,904 Metro AG 28,536 1,337,938 MTU Aero Engines AG 7,641 762,047 Muenchener Rueckversicherungs AG 35,092 7,321,324 * Osram Licht AG 9,193 476,104 # Puma SE 790 235,021 * QIAGEN NV 43,656 1,001,946 Rhoen Klinikum AG 14,963 418,164 RWE AG 89,895 3,311,918 Salzgitter AG 8,602 378,568 SAP AG 136,242 10,661,226 # SAP AG Sponsored ADR 32,719 2,563,534 # SGL Carbon SE 7,413 289,085 Siemens AG 87,275 11,153,059 # Siemens AG Sponsored ADR 61,522 7,875,431 #* Sky Deutschland AG 65,985 650,273 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ --------- ------------ GERMANY -- (Continued) # Software AG 13,612 $ 504,017 Suedzucker AG 17,838 573,814 Symrise AG 17,091 723,621 * ThyssenKrupp AG 71,941 1,835,455 United Internet AG 18,564 732,279 Volkswagen AG 6,201 1,516,429 # Wacker Chemie AG 2,920 274,211 ------------ TOTAL GERMANY 209,313,660 ------------ GREECE -- (0.0%) Hellenic Petroleum SA 15,660 203,628 * National Bank of Greece SA 35,786 203,257 OPAP SA 31,172 387,084 ------------ TOTAL GREECE 793,969 ------------ HONG KONG -- (2.5%) AAC Technologies Holdings, Inc. 118,000 518,463 AIA Group, Ltd. 2,150,000 10,917,334 ASM Pacific Technology, Ltd. 39,900 385,086 Bank of East Asia, Ltd. 264,801 1,147,575 BOC Hong Kong Holdings, Ltd. 692,500 2,252,646 * Brightoil Petroleum Holdings, Ltd. 333,000 57,116 Cafe de Coral Holdings, Ltd. 20,000 68,769 Cathay Pacific Airways, Ltd. 241,000 477,420 Cheung Kong Holdings, Ltd. 275,600 4,311,159 Cheung Kong Infrastructure Holdings, Ltd. 120,000 835,047 Chow Sang Sang Holdings International, Ltd. 56,000 181,616 Chow Tai Fook Jewellery Group, Ltd. 137,000 227,178 CLP Holdings, Ltd. 260,400 2,097,160 Dah Sing Financial Holdings, Ltd. 17,200 107,440 Esprit Holdings, Ltd. 486,920 897,800 * FIH Mobile, Ltd. 318,000 178,717 First Pacific Co., Ltd. 472,400 537,137 #* G-Resources Group, Ltd. 1,558,200 46,568 * Galaxy Entertainment Group, Ltd. 380,000 2,836,655 * Genting Hong Kong, Ltd. 83,000 37,658 # Giordano International, Ltd. 204,000 191,360 Hang Lung Group, Ltd. 184,000 970,990 Hang Lung Properties, Ltd. 435,000 1,432,510 Hang Seng Bank, Ltd. 132,500 2,213,607 Henderson Land Development Co., Ltd. 233,188 1,378,337 Hong Kong & China Gas Co., Ltd. 1,007,683 2,348,743 # Hong Kong Exchanges and Clearing, Ltd. 196,716 3,181,048 Hongkong & Shanghai Hotels (The) 103,525 162,918 Hopewell Holdings, Ltd. 144,500 487,568 Hutchison Telecommunications Hong Kong Holdings, Ltd. 306,000 135,462 Hutchison Whampoa, Ltd. 396,500 4,938,096 Hysan Development Co., Ltd. 99,638 466,730 Johnson Electric Holdings, Ltd. 273,500 196,857 Kerry Properties, Ltd. 139,393 606,282 Kingston Financial Group, Ltd. 822,000 93,262 L'Occitane International SA 44,000 99,800 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- HONG KONG -- (Continued) # Li & Fung, Ltd. 1,108,000 $ 1,557,871 Lifestyle International Holdings, Ltd. 80,500 175,428 * Lifestyle Properties Development, Ltd. 4,025 815 Luk Fook Holdings International, Ltd. 50,000 177,854 #* Melco Crown Entertainment, Ltd. ADR 30,195 1,001,266 Melco International Development, Ltd. 179,000 563,020 MGM China Holdings, Ltd. 124,800 431,927 #* Mongolian Mining Corp. 199,500 32,944 MTR Corp., Ltd. 267,540 1,034,714 New World Development Co., Ltd. 781,878 1,083,669 NWS Holdings, Ltd. 302,410 473,803 # Orient Overseas International, Ltd. 50,000 258,256 Pacific Basin Shipping, Ltd. 172,000 123,084 PCCW, Ltd. 945,265 428,048 Power Assets Holdings, Ltd. 210,207 1,748,564 Prada SpA 76,400 744,422 SA SA International Holdings, Ltd. 98,000 107,288 Samsonite International SA 202,500 552,218 Sands China, Ltd. 413,600 2,951,407 Shangri-La Asia, Ltd. 285,655 525,522 Sino Land Co., Ltd. 596,817 837,033 SJM Holdings, Ltd. 282,000 909,987 # SmarTone Telecommunications Holdings, Ltd. 23,000 30,293 # Stella International Holdings, Ltd. 44,500 109,839 Sun Hung Kai Properties, Ltd. 308,744 4,036,190 Swire Properties, Ltd. 165,000 446,922 Techtronic Industries Co. 214,000 538,002 Television Broadcasts, Ltd. 52,000 303,688 Texwinca Holdings, Ltd. 30,000 30,649 Trinity, Ltd. 192,000 71,769 #* United Laboratories International Holdings, Ltd. (The) 115,000 48,508 # VTech Holdings, Ltd. 23,900 341,284 Wharf Holdings, Ltd. 303,609 2,566,687 Wheelock & Co., Ltd. 178,000 910,684 Wing Hang Bank, Ltd. 28,311 401,512 Wynn Macau, Ltd. 240,000 915,109 Xinyi Glass Holdings, Ltd. 396,000 392,707 Yue Yuen Industrial Holdings, Ltd. 137,500 377,559 ----------- TOTAL HONG KONG 74,262,656 ----------- IRELAND -- (0.3%) * Bank of Ireland 2,930,530 1,071,063 * Bank of Ireland Sponsored ADR 6,622 96,218 CRH P.L.C.(4182249) 11,311 275,237 CRH P.L.C.(0182704) 58,738 1,432,373 CRH P.L.C. Sponsored ADR 60,337 1,477,050 Dragon Oil P.L.C. 43,868 413,239 * Elan Corp. P.L.C. 23,476 389,931 * Elan Corp. P.L.C. Sponsored ADR 54,972 915,833 Glanbia P.L.C. 2,435 34,084 Kerry Group P.L.C. Class A(4519579) 6,018 385,422 Kerry Group P.L.C. Class A(0490656) 18,318 1,168,651 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- IRELAND -- (Continued) Paddy Power P.L.C. 5,796 $ 472,140 Ryanair Holdings P.L.C. 33,520 276,835 Smurfit Kappa Group P.L.C. 11,680 282,732 ----------- TOTAL IRELAND 8,690,808 ----------- ISRAEL -- (0.4%) Azrieli Group 6,311 202,342 Bank Hapoalim BM 246,126 1,317,630 * Bank Leumi Le-Israel BM 253,776 965,987 Bezeq The Israeli Telecommunication Corp., Ltd. 353,348 614,363 * Cellcom Israel, Ltd. 6,551 76,279 # Delek Group, Ltd. 992 342,540 Elbit Systems, Ltd.(M3760D101) 193 10,341 Elbit Systems, Ltd.(6308913) 3,493 186,425 Israel Chemicals, Ltd. 77,657 642,013 #* Israel Discount Bank, Ltd. Class A 179,534 358,270 Migdal Insurance & Financial Holding, Ltd. 29,968 52,315 Mizrahi Tefahot Bank, Ltd. 22,752 266,696 NICE Systems, Ltd. Sponsored ADR 10,826 424,163 Osem Investments, Ltd. 9,419 207,778 * Partner Communications Co., Ltd. 8,183 67,192 * Partner Communications Co., Ltd. ADR 3,525 28,623 * Paz Oil Co., Ltd. 85 13,194 Strauss Group, Ltd. 2,977 52,497 Teva Pharmaceutical Industries, Ltd. 6,037 224,325 Teva Pharmaceutical Industries, Ltd. Sponsored ADR 140,641 5,216,375 ----------- TOTAL ISRAEL 11,269,348 ----------- ITALY -- (1.8%) A2A SpA 161,586 181,811 Assicurazioni Generali SpA 208,504 4,874,613 Atlantia SpA 55,332 1,212,717 * Autogrill SpA 14,553 130,639 #* Banca Carige SpA 113,241 90,543 #* Banca Monte dei Paschi di Siena SpA 1,177,714 371,305 * Banca Popolare dell'Emilia Romagna S.c.r.l. 5,071 48,723 * Banco Popolare 114,684 227,830 * CNH Industrial NV 140,633 1,663,125 Davide Campari-Milano SpA 51,808 451,504 Enel Green Power SpA 323,246 786,316 Enel SpA 947,269 4,179,281 Eni SpA 332,312 8,436,379 # Eni SpA Sponsored ADR 69,229 3,516,833 * Fiat SpA 184,408 1,447,000 #* Fiat SpA Sponsored ADR 7,000 55,370 #* Finmeccanica SpA 73,984 542,156 Gtech Spa 9,353 284,041 Intesa Sanpaolo SpA 2,243,597 5,566,079 Intesa Sanpaolo SpA Sponsored ADR 9,000 133,920 Luxottica Group SpA 29,479 1,596,916 Luxottica Group SpA Sponsored ADR 875 47,136 * Mediaset SpA 115,612 577,330 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- ITALY -- (Continued) Mediobanca SpA 117,569 $ 1,071,222 Mediolanum SpA 34,834 303,139 Parmalat SpA 80,329 270,188 # Pirelli & C. SpA 45,094 634,341 Prysmian SpA 33,580 820,264 Saipem SpA 44,656 1,044,644 Salvatore Ferragamo Italia SpA 9,142 312,969 Snam SpA 229,326 1,181,605 # Telecom Italia SpA 985,410 961,314 Telecom Italia SpA Sponsored ADR 80,065 781,435 Tenaris SA 2,151 50,321 Tenaris SA ADR 37,841 1,771,337 Terna Rete Elettrica Nazionale SpA 220,745 1,092,772 Tod's SpA 2,308 384,077 UniCredit SpA 886,989 6,658,259 Unione di Banche Italiane SCPA 189,326 1,308,514 * World Duty Free SpA 14,553 161,236 ----------- TOTAL ITALY 55,229,204 ----------- JAPAN -- (17.6%) 77 Bank, Ltd. (The) 81,000 400,615 # ABC-Mart, Inc. 4,700 235,051 # Advantest Corp. 9,840 117,765 # Advantest Corp. ADR 10,000 123,000 # Aeon Co., Ltd. 130,000 1,774,034 Aeon Mall Co., Ltd. 9,548 271,172 Air Water, Inc. 29,000 414,534 Aisin Seiki Co., Ltd. 40,000 1,624,976 # Ajinomoto Co., Inc. 118,000 1,651,177 Alfresa Holdings Corp. 8,700 475,509 * Alps Electric Co., Ltd. 34,300 301,002 Amada Co., Ltd. 84,000 722,616 ANA Holdings, Inc. 172,000 359,351 # Anritsu Corp. 24,000 314,682 # Aoyama Trading Co., Ltd. 6,300 160,635 Aozora Bank, Ltd. 212,000 616,291 Asahi Glass Co., Ltd. 223,000 1,377,254 # Asahi Group Holdings, Ltd. 72,600 1,963,431 # Asahi Kasei Corp. 255,000 1,940,703 # Asatsu-DK, Inc. 2,700 74,201 Asics Corp. 28,300 498,946 Astellas Pharma, Inc. 81,055 4,518,521 Autobacs Seven Co., Ltd. 9,900 144,347 Awa Bank, Ltd. (The) 45,000 235,010 Azbil Corp. 10,400 250,584 # Bank of Kyoto, Ltd. (The) 76,000 669,659 Bank of Yokohama, Ltd. (The) 259,000 1,428,196 # Benesse Holdings, Inc. 13,100 488,262 Bridgestone Corp. 121,600 4,168,775 Brother Industries, Ltd. 47,800 543,118 Calbee, Inc. 8,000 209,915 Calsonic Kansei Corp. 34,000 163,464 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- JAPAN -- (Continued) Canon Marketing Japan, Inc. 11,100 $ 148,705 Canon, Inc. 154,000 4,859,729 # Canon, Inc. Sponsored ADR 68,804 2,172,142 # Casio Computer Co., Ltd. 46,400 444,114 Central Japan Railway Co. 23,400 3,034,316 Century Tokyo Leasing Corp. 6,100 192,974 Chiba Bank, Ltd. (The) 180,000 1,283,197 Chiyoda Corp. 28,000 355,075 Chubu Electric Power Co., Inc. 97,600 1,444,780 Chugai Pharmaceutical Co., Ltd. 39,800 935,155 Chugoku Bank, Ltd. (The) 45,000 646,942 # Chugoku Electric Power Co., Inc. (The) 44,100 675,994 Citizen Holdings Co., Ltd. 64,900 463,037 Coca-Cola Central Japan Co., Ltd. 7,200 127,516 Coca-Cola West Co., Ltd. 14,900 302,217 COMSYS Holdings Corp. 24,700 342,926 #* Cosmo Oil Co., Ltd. 128,000 225,383 Cosmos Pharmaceutical Corp. 1,700 207,112 # Credit Saison Co., Ltd. 32,000 875,853 Dai Nippon Printing Co., Ltd. 139,000 1,460,329 Dai-ichi Life Insurance Co., Ltd. (The) 177,200 2,529,672 # Daicel Corp. 63,000 531,013 # Daido Steel Co., Ltd. 66,000 379,525 Daihatsu Motor Co., Ltd. 40,500 786,355 Daiichi Sankyo Co., Ltd. 125,646 2,329,592 Daiichikosho Co., Ltd. 8,200 234,320 # Daikin Industries, Ltd. 43,800 2,519,961 Dainippon Sumitomo Pharma Co., Ltd. 32,200 433,285 Daito Trust Construction Co., Ltd. 12,900 1,317,138 Daiwa House Industry Co., Ltd. 109,000 2,183,681 Daiwa Securities Group, Inc. 317,000 2,895,405 # Dena Co., Ltd. 15,000 326,852 Denki Kagaku Kogyo KK 113,000 473,892 # Denso Corp. 87,100 4,186,759 Dentsu, Inc. 39,400 1,488,618 DIC Corp. 158,000 457,432 # Disco Corp. 5,700 360,203 DMG Mori Seiki Co., Ltd. 6,400 103,821 Don Quijote Co., Ltd. 9,700 645,695 Dowa Holdings Co., Ltd. 41,200 388,836 East Japan Railway Co. 53,600 4,656,266 Ebara Corp. 84,000 451,611 Eisai Co., Ltd. 48,900 1,920,891 Electric Power Development Co., Ltd. 16,900 540,087 Exedy Corp. 5,600 166,322 Ezaki Glico Co., Ltd. 2,000 22,220 FamilyMart Co., Ltd. 10,800 483,804 FANUC Corp. 35,700 5,726,552 # Fast Retailing Co., Ltd. 10,100 3,399,779 FP Corp. 1,700 131,359 Fuji Electric Co., Ltd. 123,000 551,399 Fuji Heavy Industries, Ltd. 111,386 3,045,463 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- JAPAN -- (Continued) Fuji Media Holdings, Inc. 9,200 $ 183,405 FUJIFILM Holdings Corp. 96,300 2,355,859 * Fujitsu, Ltd. 385,440 1,655,929 Fukuoka Financial Group, Inc. 146,000 658,526 # Fukuyama Transporting Co., Ltd. 29,000 185,362 # Furukawa Electric Co., Ltd. 127,000 294,358 Glory, Ltd. 14,900 369,474 # Gree, Inc. 15,400 132,448 GS Yuasa Corp. 47,000 282,297 #* GungHo Online Entertainment, Inc. 590 372,317 Gunma Bank, Ltd. (The) 90,000 520,755 # H2O Retailing Corp. 33,000 280,419 Hachijuni Bank, Ltd. (The) 103,000 636,292 Hakuhodo DY Holdings, Inc. 47,200 365,053 Hamamatsu Photonics KK 16,700 624,904 Hankyu Hanshin Holdings, Inc. 260,000 1,458,299 * Haseko Corp. 44,300 328,357 Heiwa Corp. 6,700 112,334 Higo Bank, Ltd. (The) 2,000 11,385 Hikari Tsushin, Inc. 3,800 281,563 Hino Motors, Ltd. 52,000 734,737 Hiroshima Bank, Ltd. (The) 132,000 561,781 Hisamitsu Pharmaceutical Co., Inc. 11,500 622,273 Hitachi Capital Corp. 12,600 338,880 Hitachi Chemical Co., Ltd. 25,900 397,352 Hitachi Construction Machinery Co., Ltd. 21,700 459,574 Hitachi High-Technologies Corp. 10,665 245,294 # Hitachi Metals, Ltd. 39,000 525,158 Hitachi Transport System, Ltd. 8,415 133,437 Hitachi, Ltd. 588,000 4,113,120 # Hitachi, Ltd. ADR 34,892 2,432,670 #* Hokkaido Electric Power Co., Inc. 31,500 405,787 Hokuhoku Financial Group, Inc. 250,000 515,488 Hokuriku Electric Power Co. 25,800 367,479 Honda Motor Co., Ltd. 187,277 7,478,510 # Honda Motor Co., Ltd. Sponsored ADR 132,783 5,306,009 Horiba, Ltd. 3,800 138,854 Hoshizaki Electric Co., Ltd. 6,500 238,192 House Foods Group, Inc. 16,300 258,186 Hoya Corp. 80,000 1,918,348 Ibiden Co., Ltd. 34,800 603,274 # Ichigo Group Holdings Co., Ltd. 1,800 7,466 Idemitsu Kosan Co., Ltd. 4,700 393,452 IHI Corp. 274,000 1,160,200 Inpex Corp. 160,800 1,857,557 Isetan Mitsukoshi Holdings, Ltd. 71,880 1,089,355 Isuzu Motors, Ltd. 242,000 1,507,075 # Ito En, Ltd. 10,400 233,738 ITOCHU Corp. 307,500 3,697,424 # Itochu Techno-Solutions Corp. 5,900 231,458 Iyo Bank, Ltd. (The) 61,000 636,943 Izumi Co., Ltd. 12,800 416,303 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- JAPAN -- (Continued) # J Front Retailing Co., Ltd. 99,800 $ 776,583 # Japan Airport Terminal Co., Ltd. 5,800 140,633 Japan Exchange Group, Inc. 37,000 860,181 # Japan Steel Works, Ltd. (The) 76,000 424,574 Japan Tobacco, Inc. 205,100 7,421,273 JFE Holdings, Inc. 106,400 2,418,970 JGC Corp. 36,000 1,377,496 Joyo Bank, Ltd. (The) 147,000 763,539 JSR Corp. 36,100 687,633 JTEKT Corp. 49,960 641,400 JX Holdings, Inc. 442,170 2,186,383 K's Holdings Corp. 10,139 297,710 # Kagome Co., Ltd. 17,600 305,407 Kagoshima Bank, Ltd. (The) 13,000 87,507 Kajima Corp. 173,000 734,264 Kakaku.com, Inc. 19,200 371,354 Kaken Pharmaceutical Co., Ltd. 13,000 203,017 Kamigumi Co., Ltd. 67,000 582,790 # Kaneka Corp. 74,000 469,570 * Kansai Electric Power Co., Inc. (The) 113,400 1,435,306 # Kansai Paint Co., Ltd. 40,000 537,475 Kao Corp. 94,500 3,147,187 Kawasaki Heavy Industries, Ltd. 286,000 1,117,551 Kawasaki Kisen Kaisha, Ltd. 288,000 660,219 KDDI Corp. 99,000 5,361,493 Keihan Electric Railway Co., Ltd. 111,000 456,619 Keikyu Corp. 80,000 753,046 Keio Corp. 97,000 672,058 Keisei Electric Railway Co., Ltd. 50,000 516,356 Keiyo Bank, Ltd. (The) 43,000 218,987 Kewpie Corp. 16,300 245,249 Keyence Corp. 8,651 3,707,724 # Kikkoman Corp. 32,000 583,218 Kinden Corp. 35,000 384,397 # Kintetsu Corp. 291,280 1,071,957 Kirin Holdings Co., Ltd. 171,000 2,499,248 Kobayashi Pharmaceutical Co., Ltd. 5,300 296,752 * Kobe Steel, Ltd. 573,000 1,012,130 Koito Manufacturing Co., Ltd. 20,000 364,074 # Komatsu, Ltd. 170,800 3,747,414 Komeri Co., Ltd. 5,000 122,105 # Konami Corp. 20,500 495,432 Konami Corp. ADR 3,500 84,665 Konica Minolta, Inc. 106,000 877,780 # Kose Corp. 3,690 107,840 Kubota Corp. 168,000 2,487,512 Kubota Corp. Sponsored ADR 8,151 603,092 Kuraray Co., Ltd. 71,200 835,983 # Kurita Water Industries, Ltd. 27,000 589,248 KYB Co., Ltd. 14,000 81,065 Kyocera Corp. 42,800 2,222,627 # Kyocera Corp. Sponsored ADR 21,658 1,146,791 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- JAPAN -- (Continued) KYORIN Holdings, Inc. 5,400 $ 115,118 Kyowa Hakko Kirin Co., Ltd. 53,000 585,383 * Kyushu Electric Power Co., Inc. 61,800 870,133 Lawson, Inc. 13,200 1,058,559 Lintec Corp. 7,200 149,332 # Lion Corp. 47,000 282,073 # LIXIL Group Corp. 50,140 1,176,920 M3, Inc. 78 213,609 Maeda Road Construction Co., Ltd. 9,000 160,029 Makita Corp. 20,200 1,021,501 Makita Corp. Sponsored ADR 1,630 82,967 Marubeni Corp. 332,000 2,599,376 Marui Group Co., Ltd. 58,400 559,044 # Matsui Securities Co., Ltd. 17,000 182,023 Matsumotokiyoshi Holdings Co., Ltd. 3,400 114,724 * Mazda Motor Corp. 491,000 2,210,239 # McDonald's Holdings Co. Japan, Ltd. 12,400 342,631 Medipal Holdings Corp. 26,100 351,930 # MEIJI Holdings Co., Ltd. 12,256 685,130 Minebea Co., Ltd. 45,000 249,118 Miraca Holdings, Inc. 11,300 509,155 # MISUMI Group, Inc. 17,100 500,591 # Mitsubishi Chemical Holdings Corp. 292,490 1,369,218 Mitsubishi Corp. 290,000 5,867,006 Mitsubishi Electric Corp. 361,000 3,968,097 Mitsubishi Estate Co., Ltd. 234,000 6,687,628 Mitsubishi Gas Chemical Co., Inc. 69,000 563,910 # Mitsubishi Heavy Industries, Ltd. 578,000 3,673,345 Mitsubishi Logistics Corp. 26,000 361,320 Mitsubishi Materials Corp. 203,000 794,220 #* Mitsubishi Motors Corp. 66,499 747,259 Mitsubishi Shokuhin Co., Ltd. 1,100 30,808 Mitsubishi Tanabe Pharma Corp. 40,400 569,790 # Mitsubishi UFJ Financial Group, Inc. 1,164,572 7,416,301 # Mitsubishi UFJ Financial Group, Inc. ADR 1,455,897 9,317,741 Mitsui & Co., Ltd. 304,300 4,347,206 Mitsui & Co., Ltd. Sponsored ADR 2,559 731,874 Mitsui Chemicals, Inc. 185,000 491,787 Mitsui Engineering & Shipbuilding Co., Ltd. 114,000 223,779 Mitsui Fudosan Co., Ltd. 157,000 5,200,766 Mitsui Mining & Smelting Co., Ltd. 148,000 377,281 Mitsui OSK Lines, Ltd. 235,000 994,715 Mizuho Financial Group, Inc. 4,069,005 8,541,094 # Mizuho Financial Group, Inc. ADR 312,894 1,314,155 Mochida Pharmaceutical Co., Ltd. 1,600 101,270 MS&AD Insurance Group Holdings 98,095 2,536,477 # Murata Manufacturing Co., Ltd. 36,200 2,905,768 # Nabtesco Corp. 15,000 366,113 Nagase & Co., Ltd. 27,100 337,576 # Nagoya Railroad Co., Ltd. 121,000 351,296 Namco Bandai Holdings, Inc. 28,900 544,776 Nankai Electric Railway Co., Ltd. 66,000 246,548 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- JAPAN -- (Continued) Nanto Bank, Ltd. (The) 41,000 $ 162,336 NEC Corp. 505,546 1,135,549 # NET One Systems Co., Ltd. 8,800 61,388 Nexon Co., Ltd. 9,800 114,538 # NGK Insulators, Ltd. 55,000 925,099 # NGK Spark Plug Co., Ltd. 28,000 639,466 NHK Spring Co., Ltd. 23,000 240,758 Nichirei Corp. 34,000 175,497 # Nidec Corp. 11,600 1,130,445 # Nidec Corp. ADR 26,554 647,387 Nifco, Inc. 2,700 71,952 Nihon Kohden Corp. 3,800 156,509 Nikon Corp. 65,300 1,207,152 Nintendo Co., Ltd. 17,600 1,979,184 Nippo Corp. 15,000 281,414 # Nippon Electric Glass Co., Ltd. 71,500 367,777 # Nippon Express Co., Ltd. 174,000 873,749 Nippon Kayaku Co., Ltd. 33,000 462,658 Nippon Meat Packers, Inc. 32,000 468,521 Nippon Paint Co., Ltd. 28,000 470,951 # Nippon Paper Industries Co., Ltd. 23,100 368,075 Nippon Shokubai Co., Ltd. 38,000 466,165 Nippon Steel & Sumitomo Metal Corp. 1,455,420 4,803,690 Nippon Telegraph & Telephone Corp. 60,400 3,139,612 Nippon Telegraph & Telephone Corp. ADR 12,525 326,902 Nippon Television Holdings, Inc. 12,900 236,310 # Nippon Yusen KK 313,000 956,370 # Nipro Corp. 26,900 246,510 Nishi-Nippon City Bank, Ltd. (The) 132,000 356,632 # Nishi-Nippon Railroad Co., Ltd. 41,000 157,067 # Nissan Chemical Industries, Ltd. 15,000 235,814 Nissan Motor Co., Ltd. 488,100 4,901,138 Nissan Shatai Co., Ltd. 17,000 293,098 # Nisshin Seifun Group, Inc. 44,000 477,023 Nisshin Steel Holdings Co., Ltd. 11,700 156,007 Nisshinbo Holdings, Inc. 29,000 256,136 Nissin Foods Holdings Co., Ltd. 10,000 428,039 Nitori Holdings Co., Ltd. 5,350 501,861 # Nitto Denko Corp. 27,900 1,463,102 NKSJ Holdings, Inc. 71,150 1,841,730 NOK Corp. 17,880 276,394 # Nomura Holdings, Inc. 353,600 2,612,055 Nomura Holdings, Inc. ADR 348,997 2,568,618 Nomura Real Estate Holdings, Inc. 19,600 495,908 # Nomura Research Institute, Ltd. 19,400 651,108 # NSK, Ltd. 89,000 950,727 * NTN Corp. 93,000 447,037 NTT Data Corp. 25,500 847,739 NTT DOCOMO, Inc. 252,528 4,006,363 # NTT DOCOMO, Inc. Sponsored ADR 51,866 823,113 Obayashi Corp. 121,000 775,261 Obic Co., Ltd. 14,300 449,058 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- JAPAN -- (Continued) Odakyu Electric Railway Co., Ltd. 84,000 $ 810,666 Oji Holdings Corp. 168,000 767,765 * Olympus Corp. 42,600 1,362,834 # Omron Corp. 34,900 1,331,826 Onward Holdings Co., Ltd. 18,000 148,982 Oracle Corp. Japan 7,100 280,334 Oriental Land Co., Ltd. 8,900 1,425,131 Osaka Gas Co., Ltd. 256,000 1,078,291 # OSAKA Titanium Technologies Co. 2,500 54,560 OSG Corp. 9,900 160,149 Otsuka Corp. 2,900 376,139 # Pacific Metals Co., Ltd. 19,000 69,625 Panasonic Corp. 313,989 3,218,186 Panasonic Corp. Sponsored ADR 108,991 1,135,686 # Park24 Co., Ltd. 18,900 369,014 # Pigeon Corp. 6,000 309,559 #* Pioneer Corp. 43,200 79,523 Pola Orbis Holdings, Inc. 5,200 176,185 # Rakuten, Inc. 143,300 1,867,147 Rengo Co., Ltd. 44,000 235,332 Resona Holdings, Inc. 363,200 1,889,268 Resorttrust, Inc. 1,400 53,330 Ricoh Co., Ltd. 142,000 1,499,634 # Rinnai Corp. 5,500 425,700 Rohm Co., Ltd. 17,900 734,753 Rohto Pharmaceutical Co., Ltd. 11,000 159,635 Ryohin Keikaku Co., Ltd. 3,400 339,169 Sankyo Co., Ltd. 10,000 475,589 Sankyu, Inc. 7,000 25,056 # Sanrio Co., Ltd. 5,500 302,235 Santen Pharmaceutical Co., Ltd. 10,100 512,734 Sapporo Holdings, Ltd. 31,000 137,848 # Sawai Pharmaceutical Co., Ltd. 4,400 321,654 SBI Holdings, Inc. 52,950 640,792 SCSK Corp. 7,500 190,126 # Secom Co., Ltd. 39,000 2,349,454 Sega Sammy Holdings, Inc. 31,748 813,877 Seiko Epson Corp. 26,700 435,839 Seino Holdings Co., Ltd. 35,000 345,669 Sekisui Chemical Co., Ltd. 77,000 894,624 # Sekisui House, Ltd. 124,560 1,787,915 Senshu Ikeda Holdings, Inc. 34,820 171,518 Seven & I Holdings Co., Ltd. 139,676 5,169,218 #* Sharp Corp. 191,000 564,997 Shiga Bank, Ltd. (The) 47,000 256,872 * Shikoku Electric Power Co., Inc. 24,200 431,950 Shimadzu Corp. 55,000 538,581 Shimamura Co., Ltd. 3,600 404,709 Shimano, Inc. 12,800 1,120,308 Shimizu Corp. 118,000 605,154 Shin-Etsu Chemical Co., Ltd. 80,800 4,568,597 Shinsei Bank, Ltd. 392,000 917,792 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- JAPAN -- (Continued) Shionogi & Co., Ltd. 51,800 $ 1,146,258 Shiseido Co., Ltd. 58,400 999,048 Shizuoka Bank, Ltd. (The) 130,000 1,462,680 # Showa Denko KK 283,000 383,733 Showa Shell Sekiyu KK 30,000 322,526 SKY Perfect JSAT Holdings, Inc. 29,300 169,190 SMC Corp. 9,900 2,304,900 # Softbank Corp. 179,200 13,382,451 Sohgo Security Services Co., Ltd. 10,300 208,215 Sojitz Corp. 317,800 617,101 # Sony Corp. 134,200 2,341,077 Sony Corp. Sponsored ADR 74,848 1,291,128 Sony Financial Holdings, Inc. 29,400 548,974 Sotetsu Holdings, Inc. 73,000 271,534 Square Enix Holdings Co., Ltd. 9,700 156,332 # Stanley Electric Co., Ltd. 25,000 581,525 Start Today Co., Ltd. 10,500 292,741 Sugi Holdings Co., Ltd. 7,100 296,954 Sumco Corp. 16,700 151,749 Sumitomo Bakelite Co., Ltd. 33,000 118,993 # Sumitomo Chemical Co., Ltd. 275,000 1,007,155 Sumitomo Corp. 235,900 3,069,837 # Sumitomo Electric Industries, Ltd. 152,400 2,283,613 Sumitomo Forestry Co., Ltd. 21,600 251,293 Sumitomo Heavy Industries, Ltd. 115,000 508,983 # Sumitomo Metal Mining Co., Ltd. 105,000 1,454,312 Sumitomo Mitsui Financial Group, Inc. 261,540 12,641,764 # Sumitomo Mitsui Trust Holdings, Inc. 684,210 3,379,372 # Sumitomo Osaka Cement Co., Ltd. 51,000 205,774 Sumitomo Realty & Development Co., Ltd. 64,000 3,028,252 Sumitomo Rubber Industries, Ltd. 27,600 384,233 Sundrug Co., Ltd. 3,600 179,457 Suruga Bank, Ltd. 32,000 507,626 Suzuken Co. Ltd/Aichi Japan 13,980 504,814 Suzuki Motor Corp. 65,300 1,641,993 # Sysmex Corp. 10,900 722,051 T&D Holdings, Inc. 119,700 1,437,086 Tadano, Ltd. 14,000 192,518 # Taiheiyo Cement Corp. 205,000 869,449 Taisei Corp. 183,000 938,841 Taiyo Nippon Sanso Corp. 50,000 342,868 # Taiyo Yuden Co., Ltd. 6,500 83,316 Takara Holdings, Inc. 23,000 210,917 Takashimaya Co., Ltd. 60,000 572,463 Takata Corp. 6,800 171,508 Takeda Pharmaceutical Co., Ltd. 148,000 7,052,872 TDK Corp. 24,000 1,020,003 TDK Corp. Sponsored ADR 1,900 80,560 # Teijin, Ltd. 175,000 392,958 Terumo Corp. 26,800 1,297,942 # THK Co., Ltd. 20,000 436,567 Tobu Railway Co., Ltd. 131,000 679,086 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- JAPAN -- (Continued) Toho Co., Ltd. 18,200 $ 389,987 Toho Gas Co., Ltd. 63,000 328,511 Toho Holdings Co., Ltd. 7,100 137,459 * Tohoku Electric Power Co., Inc. 58,700 710,516 Tokai Rika Co., Ltd. 9,200 195,087 Tokai Tokyo Financial Holdings, Inc. 42,100 353,131 Tokio Marine Holdings, Inc. 138,400 4,537,368 # Tokio Marine Holdings, Inc. ADR 4,182 137,379 Tokyo Broadcasting System Holdings, Inc. 8,300 109,363 * Tokyo Electric Power Co., Inc. 194,600 1,038,560 Tokyo Electron, Ltd. 32,800 1,799,822 Tokyo Gas Co., Ltd. 376,000 2,040,184 Tokyo Tatemono Co., Ltd. 88,039 826,510 # Tokyu Corp. 165,000 1,123,661 * Tokyu Fudosan Holdings Corp. 80,000 785,925 TonenGeneral Sekiyu KK 42,000 390,157 # Toppan Printing Co., Ltd. 113,000 892,514 # Toray Industries, Inc. 278,000 1,737,149 Toshiba Corp. 739,000 3,140,946 Toshiba TEC Corp. 25,000 153,981 Tosoh Corp. 94,000 359,707 # TOTO, Ltd. 46,000 650,543 Toyo Seikan Group Holdings, Ltd. 34,700 721,168 Toyo Suisan Kaisha, Ltd. 16,000 508,848 Toyobo Co., Ltd. 192,000 368,955 Toyoda Gosei Co., Ltd. 14,300 357,565 # Toyota Boshoku Corp. 9,300 124,565 Toyota Motor Corp. 324,100 21,014,052 # Toyota Motor Corp. Sponsored ADR 94,713 12,257,756 Toyota Tsusho Corp. 37,581 1,043,887 Trend Micro, Inc. 19,100 710,409 * Trend Micro, Inc. Sponsored ADR 777 28,982 TS Tech Co., Ltd. 8,200 307,216 # Tsumura & Co. 9,000 282,869 Tsuruha Holdings, Inc. 2,200 199,735 Ube Industries, Ltd. 181,000 374,651 Unicharm Corp. 19,000 1,220,349 United Arrows, Ltd. 800 34,469 UNY Group Holdings Co., Ltd. 44,100 278,284 Ushio, Inc. 17,100 215,988 # USS Co., Ltd. 43,100 631,177 Wacoal Holdings Corp. 27,000 289,927 # West Japan Railway Co. 23,200 1,040,287 Yahoo Japan Corp. 266,800 1,244,813 # Yakult Honsha Co., Ltd. 17,200 873,649 # Yamada Denki Co., Ltd. 236,800 664,221 Yamaguchi Financial Group, Inc. 48,000 452,334 Yamaha Corp. 30,200 450,900 Yamaha Motor Co., Ltd. 50,100 767,457 Yamato Holdings Co., Ltd. 60,900 1,309,708 # Yamato Kogyo Co., Ltd. 7,600 281,688 Yamazaki Baking Co., Ltd. 24,000 244,344 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ ------- ------------ JAPAN -- (Continued) # Yaskawa Electric Corp. 34,000 $ 440,326 # Yokogawa Electric Corp. 36,100 471,784 Yokohama Rubber Co., Ltd. (The) 35,000 342,355 # Zensho Holdings Co., Ltd. 6,000 68,475 Zeon Corp. 27,000 321,763 ------------ TOTAL JAPAN 527,236,934 ------------ NETHERLANDS -- (2.1%) Aegon NV 337,479 2,685,277 Akzo Nobel NV 45,305 3,288,888 # Akzo Nobel NV Sponsored ADR 5,988 146,646 # ArcelorMittal(B295F26) 42,802 674,560 ArcelorMittal(B03XPL1) 153,265 2,414,019 ASML Holding NV(B929F46) 49,663 4,702,449 ASML Holding NV(B908F01) 12,240 1,158,394 Delta Lloyd NV 21,049 446,273 Fugro NV 12,954 809,888 Gemalto NV 14,531 1,630,953 Heineken NV 39,119 2,695,579 * ING Groep NV 324,556 4,124,363 #* ING Groep NV Sponsored ADR 345,739 4,397,800 Koninklijke Ahold NV 180,203 3,425,035 Koninklijke Ahold NV Sponsored ADR 8,320 158,330 Koninklijke Boskalis Westminster NV 12,546 602,992 Koninklijke DSM NV 30,458 2,302,398 * Koninklijke KPN NV 491,076 1,563,510 Koninklijke Philips NV(5986622) 173,954 6,147,656 Koninklijke Philips NV(500472303) 5,913 209,379 Koninklijke Vopak NV 11,198 688,714 Randstad Holding NV 26,352 1,622,983 Reed Elsevier NV 78,428 1,576,762 # Reed Elsevier NV Sponsored ADR 22,835 919,109 #* Royal Imtech NV 10,738 31,598 * SBM Offshore NV 31,251 654,099 TNT Express NV 56,732 523,040 Unilever NV(B12T3J1) 242,733 9,623,254 Unilever NV(904784709) 37,280 1,480,762 Wolters Kluwer NV 57,297 1,552,223 Ziggo NV 28,044 1,202,223 ------------ TOTAL NETHERLANDS 63,459,156 ------------ NEW ZEALAND -- (0.1%) Auckland International Airport, Ltd. 202,570 573,442 Chorus, Ltd. 57,576 126,012 Contact Energy, Ltd. 65,243 282,921 Fletcher Building, Ltd. 112,971 932,300 # Ryman Healthcare, Ltd. 18,227 113,622 Sky Network Television, Ltd. 23,000 117,790 SKYCITY Entertainment Group, Ltd. 28,225 90,647 Telecom Corp. of New Zealand, Ltd. 261,726 507,866 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- NEW ZEALAND -- (Continued) TrustPower, Ltd. 8,019 $ 45,704 ----------- TOTAL NEW ZEALAND 2,790,304 ----------- NORWAY -- (0.9%) Aker ASA Class A 4,790 150,905 Aker Solutions ASA 24,377 336,783 * Algeta ASA 364 14,424 * Archer, Ltd. 31,266 28,420 Cermaq ASA 3,001 53,184 #* Det Norske Oljeselskap ASA 9,362 133,221 DNB ASA 197,972 3,509,352 * DNO International ASA 83,791 236,789 Fred Olsen Energy ASA 7,661 321,943 Gjensidige Forsikring ASA 34,121 636,877 Golar LNG, Ltd. 6,906 263,918 # Kongsberg Gruppen A.S. 6,143 128,027 Marine Harvest ASA 602,481 706,340 # Norsk Hydro ASA 207,267 924,985 Norsk Hydro ASA Sponsored ADR 11,200 49,728 Orkla ASA 149,735 1,213,778 Petroleum Geo-Services ASA 38,970 472,631 Prosafe SE 36,219 310,431 Schibsted ASA 13,493 824,588 Seadrill, Ltd.(B09RMQ1) 53,292 2,464,980 Seadrill, Ltd.(G7945E105) 19,180 894,172 SpareBank 1 SR Bank ASA 1,793 16,114 Statoil ASA 178,091 4,213,847 Statoil ASA Sponsored ADR 38,709 914,694 Stolt-Nielsen, Ltd. 900 25,482 * Storebrand ASA 101,739 657,894 Subsea 7 SA 60,220 1,273,518 Telenor ASA 127,524 3,064,098 TGS Nopec Geophysical Co. ASA 16,183 445,091 Veripos, Inc. 5,513 27,147 # Yara International ASA 38,653 1,664,681 ----------- TOTAL NORWAY 25,978,042 ----------- PORTUGAL -- (0.1%) * Banco Espirito Santo SA 513,592 674,847 Cimpor Cimentos de Portugal SGPS SA 10,550 38,609 EDP - Energias de Portugal SA 355,905 1,310,093 * EDP Renovaveis SA 35,708 196,309 Galp Energia SGPS SA 42,884 726,172 Jeronimo Martins SGPS SA 35,510 653,971 # Portugal Telecom SGPS SA 103,660 467,248 # Portugal Telecom SGPS SA Sponsored ADR 20,300 91,147 ----------- TOTAL PORTUGAL 4,158,396 ----------- SINGAPORE -- (1.2%) Biosensors International Group, Ltd. 152,000 114,930 CapitaLand, Ltd. 541,750 1,357,350 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- SINGAPORE -- (Continued) City Developments, Ltd. 108,000 $ 893,943 ComfortDelGro Corp., Ltd. 270,000 416,927 Cosco Corp. Singapore, Ltd. 132,000 83,212 DBS Group Holdings, Ltd. 358,204 4,829,116 First Resources, Ltd. 19,000 29,809 Genting Singapore P.L.C. 1,160,000 1,419,261 Golden Agri-Resources, Ltd. 1,571,000 758,576 Great Eastern Holdings, Ltd. 6,000 87,427 GuocoLand, Ltd. 58,000 105,012 Hongkong Land Holdings, Ltd. 189,000 1,162,381 Hutchison Port Holdings Trust 68,000 49,626 Indofood Agri Resources, Ltd. 84,000 61,490 Jardine Cycle & Carriage, Ltd. 19,339 569,936 Keppel Corp., Ltd. 255,600 2,230,445 Keppel Land, Ltd. 141,000 420,357 M1, Ltd. 88,000 241,150 #* Neptune Orient Lines, Ltd. 153,000 130,321 Noble Group, Ltd. 860,000 710,547 # Olam International, Ltd. 372,054 460,288 # OUE, Ltd. 44,000 85,648 Oversea-Chinese Banking Corp., Ltd. 477,380 3,993,516 SATS, Ltd. 150,736 412,396 SembCorp Industries, Ltd. 162,320 693,986 # SembCorp Marine, Ltd. 165,000 596,903 SIA Engineering Co., Ltd. 32,000 130,000 Singapore Airlines, Ltd. 103,400 867,359 Singapore Exchange, Ltd. 166,000 979,340 Singapore Land, Ltd. 4,000 27,924 Singapore Post, Ltd. 115,000 121,230 # Singapore Press Holdings, Ltd. 259,000 885,958 Singapore Technologies Engineering, Ltd. 282,000 956,206 Singapore Telecommunications, Ltd. 1,433,650 4,353,679 # SMRT Corp., Ltd. 59,000 61,705 StarHub, Ltd. 110,000 393,335 Super Group, Ltd. 11,000 37,193 United Industrial Corp., Ltd. 96,000 237,082 United Overseas Bank, Ltd. 247,941 4,152,170 UOL Group, Ltd. 86,000 455,186 Venture Corp., Ltd. 48,000 300,595 Wilmar International, Ltd. 382,000 1,062,548 ----------- TOTAL SINGAPORE 36,936,063 ----------- SPAIN -- (2.8%) Abertis Infraestructuras SA 71,371 1,529,132 # Acciona SA 7,527 477,154 # Acerinox SA 23,737 312,895 ACS Actividades de Construccion y Servicios SA 26,945 883,934 Amadeus IT Holding SA Class A 65,863 2,443,668 Banco Bilbao Vizcaya Argentaria SA 587,605 6,867,285 # Banco Bilbao Vizcaya Argentaria SA Sponsored ADR 530,509 6,196,345 # Banco de Sabadell SA 713,690 1,828,691 * Banco Popular Espanol SA 304,287 1,726,029 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- SPAIN -- (Continued) Banco Santander SA 1,225,631 $10,865,540 # Banco Santander SA Sponsored ADR 937,981 8,357,412 Bankinter SA 60,187 366,967 CaixaBank 244,386 1,266,690 Distribuidora Internacional de Alimentacion SA 95,502 870,689 Ebro Foods SA 16,941 382,157 Enagas SA 33,110 884,039 Ferrovial SA 73,461 1,400,295 * Fomento de Construcciones y Contratas SA 7,734 177,953 Gas Natural SDG SA 66,529 1,569,163 Grifols SA 26,263 1,076,427 Iberdrola SA 949,689 5,961,051 # Inditex SA 39,499 6,487,271 # Indra Sistemas SA 13,729 226,402 Mapfre SA 126,017 506,045 * Mediaset Espana Comunicacion SA 31,341 382,494 Obrascon Huarte Lain SA 5,256 220,145 Prosegur Cia de Seguridad SA 26,700 158,415 Red Electrica Corp. SA 22,297 1,388,315 Repsol SA 86,813 2,327,519 Repsol SA Sponsored ADR 81,084 2,168,186 * Sacyr SA 32,707 176,024 * Telefonica SA 380,313 6,693,245 #* Telefonica SA Sponsored ADR 370,982 6,481,056 # Zardoya Otis SA 30,859 536,837 ----------- TOTAL SPAIN 83,195,470 ----------- SWEDEN -- (2.6%) Alfa Laval AB 60,909 1,389,382 Assa Abloy AB Class B 62,643 3,108,166 Atlas Copco AB Class A 120,500 3,338,706 # Atlas Copco AB Class B 71,432 1,774,992 Boliden AB 65,722 933,450 Electrolux AB Series B 46,322 1,142,530 # Elekta AB Class B 68,768 1,015,644 Getinge AB Class B 39,292 1,244,778 Hennes & Mauritz AB Class B 179,201 7,743,604 Hexagon AB Class B 49,033 1,470,245 Husqvarna AB Class A 12,600 73,964 # Husqvarna AB Class B 78,695 462,373 * ICA Gruppen AB 13,299 401,928 * Lundin Petroleum AB 36,534 752,901 Meda AB Class A 49,832 559,189 Millicom International Cellular SA 11,079 1,022,110 Nordea Bank AB 568,871 7,276,718 # Ratos AB Class B 34,998 302,870 Sandvik AB 181,247 2,449,017 Scania AB Class B 60,716 1,216,949 Securitas AB Class B 68,256 778,320 Skandinaviska Enskilda Banken AB Class A 312,056 3,774,336 Skanska AB Class B 74,934 1,442,801 SKF AB Class B 71,134 1,882,157 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- SWEDEN -- (Continued) # SSAB AB Class A 34,790 $ 228,867 SSAB AB Class B 10,905 61,526 Svenska Cellulosa AB Class A 5,862 165,664 Svenska Cellulosa AB Class B 116,858 3,313,064 Svenska Handelsbanken AB Class A 102,204 4,622,335 Swedbank AB Class A 184,185 4,793,658 Swedish Match AB 35,652 1,175,548 Tele2 AB Class B 79,737 961,103 Telefonaktiebolaget LM Ericsson Class A 14,581 164,648 Telefonaktiebolaget LM Ericsson Class B 542,927 6,494,066 Telefonaktiebolaget LM Ericsson Sponsored ADR 44,578 534,490 TeliaSonera AB 472,896 3,910,372 Trelleborg AB Class B 54,944 1,036,774 Volvo AB Class A 79,048 1,015,748 Volvo AB Class B 268,370 3,444,504 Volvo AB Sponsored ADR 14,500 186,180 ----------- TOTAL SWEDEN 77,665,677 ----------- SWITZERLAND -- (7.5%) ABB, Ltd. 252,914 6,443,629 ABB, Ltd. Sponsored ADR 175,582 4,472,074 Actelion, Ltd. 19,646 1,520,022 Adecco SA 30,064 2,217,031 # Alpiq Holding AG 365 48,207 Aryzta AG 21,192 1,580,974 Baloise Holding AG 12,700 1,475,408 Banque Cantonale Vaudoise 538 298,947 Barry Callebaut AG 449 469,000 Basler Kantonalbank 1,000 84,157 Cie Financiere Richemont SA 97,651 9,984,783 Clariant AG 75,056 1,322,475 Credit Suisse Group AG 232,335 7,227,464 Credit Suisse Group AG Sponsored ADR 71,274 2,218,760 DKSH Holding AG 4,835 403,394 * Dufry AG 4,023 649,984 # EMS-Chemie Holding AG 1,411 513,806 Galenica AG 890 786,588 Geberit AG 6,514 1,946,153 Givaudan SA 1,737 2,463,393 Holcim, Ltd. 50,033 3,721,426 Julius Baer Group, Ltd. 54,473 2,672,213 Kuehne + Nagel International AG 10,272 1,297,671 Lindt & Spruengli AG 22 1,105,715 Lonza Group AG 8,012 715,174 Nestle SA 605,460 43,704,470 Novartis AG 288,619 22,403,348 Novartis AG ADR 164,130 12,728,282 OC Oerlikon Corp. AG 29,010 405,565 Partners Group Holding AG 3,063 793,999 PSP Swiss Property AG 2,517 216,333 Roche Holding AG(7108918) 4,421 1,214,763 Roche Holding AG(7110388) 127,069 35,139,075 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ --------- ------------ SWITZERLAND -- (Continued) Schindler Holding AG 2,881 $ 410,004 SGS SA 1,019 2,384,208 Sika AG 457 1,440,669 Sonova Holding AG 9,165 1,192,744 Sulzer AG 6,198 969,616 Swatch Group AG (The)(7184725) 6,041 3,858,335 Swatch Group AG (The)(7184736) 7,914 880,530 Swiss Life Holding AG 7,517 1,490,473 Swiss Re AG 77,996 6,846,692 Swisscom AG 4,607 2,349,826 Syngenta AG 9,508 3,837,582 Syngenta AG ADR 37,300 3,011,975 UBS AG(H89231338) 124,245 2,405,383 UBS AG(B18YFJ4) 640,816 12,394,061 Zurich Insurance Group AG 32,332 8,934,082 ------------ TOTAL SWITZERLAND 224,650,463 ------------ UNITED KINGDOM -- (18.0%) Aberdeen Asset Management P.L.C. 204,528 1,451,501 Admiral Group P.L.C. 30,710 628,763 Aggreko P.L.C. 48,957 1,262,416 AMEC P.L.C. 58,523 1,103,755 Anglo American P.L.C. 293,396 6,975,951 Antofagasta P.L.C. 67,507 922,616 ARM Holdings P.L.C. 157,970 2,475,330 # ARM Holdings P.L.C. Sponsored ADR 31,636 1,492,903 Ashmore Group P.L.C. 41,357 267,997 Ashtead Group P.L.C. 84,983 893,014 Associated British Foods P.L.C. 74,044 2,691,866 AstraZeneca P.L.C. 135,231 7,159,146 # AstraZeneca P.L.C. Sponsored ADR 102,227 5,403,719 Aviva P.L.C. 615,686 4,419,954 Aviva P.L.C. Sponsored ADR 5,348 77,225 Babcock International Group P.L.C. 75,422 1,542,305 BAE Systems P.L.C. 623,512 4,548,202 Balfour Beatty P.L.C. 42,765 195,575 Barclays P.L.C. 937,372 3,943,954 # Barclays P.L.C. Sponsored ADR 548,981 9,228,371 Barratt Developments P.L.C. 31,296 167,827 BG Group P.L.C. 604,431 12,330,190 # BG Group P.L.C. Sponsored ADR 56,914 1,164,460 BHP Billiton P.L.C. 127,971 3,948,989 BHP Billiton P.L.C. ADR 116,931 7,207,627 BP P.L.C. 468,860 3,639,574 BP P.L.C. Sponsored ADR 563,945 26,223,442 British American Tobacco P.L.C. 285,586 15,756,419 # British American Tobacco P.L.C. Sponsored ADR 33,301 3,679,427 British Sky Broadcasting Group P.L.C. 183,957 2,763,948 # British Sky Broadcasting Group P.L.C. Sponsored ADR 647 39,156 BT Group P.L.C. 1,111,435 6,724,881 BT Group P.L.C. Sponsored ADR 35,602 2,158,549 Bunzl P.L.C. 61,814 1,363,555 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- UNITED KINGDOM -- (Continued) Burberry Group P.L.C. 83,559 $ 2,053,338 * Cairn Energy P.L.C. 99,844 452,409 Capita P.L.C. 120,049 1,897,753 Carnival P.L.C. 33,012 1,173,322 Carnival P.L.C. ADR 14,200 505,520 Centrica P.L.C. 919,203 5,198,765 Cobham P.L.C. 148,789 687,153 Coca-Cola HBC AG 8,073 232,184 Coca-Cola HBC AG ADR 27,952 806,695 Compass Group P.L.C. 338,906 4,873,873 Croda International P.L.C. 24,141 943,374 Diageo P.L.C. 160,103 5,103,675 Diageo P.L.C. Sponsored ADR 78,259 9,985,066 easyJet P.L.C. 29,636 620,789 * Essar Energy P.L.C. 36,918 70,310 * Eurasian Natural Resources Corp. P.L.C. 52,797 190,231 * Evraz P.L.C. 51,040 96,464 Experian P.L.C. 183,605 3,737,942 Ferrexpo P.L.C. 3,692 10,721 Fresnillo P.L.C. 28,370 443,497 G4S P.L.C. 248,845 1,045,224 GKN P.L.C. 350,912 2,067,127 GlaxoSmithKline P.L.C. 528,451 13,931,212 GlaxoSmithKline P.L.C. Sponsored ADR 204,043 10,738,783 Glencore Xstrata P.L.C. 1,648,869 8,973,502 Hargreaves Lansdown P.L.C. 36,360 692,668 HSBC Holdings P.L.C. 1,638,724 17,962,609 HSBC Holdings P.L.C. Sponsored ADR 437,209 24,063,982 ICAP P.L.C. 101,460 626,514 IMI P.L.C. 57,408 1,396,676 Imperial Tobacco Group P.L.C. 137,568 5,135,956 Imperial Tobacco Group P.L.C. ADR 19,700 1,477,303 Informa P.L.C. 111,055 994,878 Inmarsat P.L.C. 36,824 425,013 InterContinental Hotels Group P.L.C. 46,039 1,341,439 * International Consolidated Airlines Group SA 229,324 1,276,336 Intertek Group P.L.C. 28,651 1,528,509 Invensys P.L.C. 32,612 261,699 Investec P.L.C. 143,706 1,005,455 ITV P.L.C. 729,378 2,230,131 J Sainsbury P.L.C. 250,137 1,582,248 John Wood Group P.L.C. 72,050 938,120 Johnson Matthey P.L.C. 39,778 1,914,263 # Kazakhmys P.L.C. 39,377 165,671 Kingfisher P.L.C. 529,673 3,204,226 Legal & General Group P.L.C. 1,154,884 4,002,605 * Lloyds Banking Group P.L.C. 6,055,390 7,489,285 #* Lloyds Banking Group P.L.C. ADR 792,292 3,985,229 London Stock Exchange Group P.L.C. 31,436 826,262 * Lonmin P.L.C. 41,655 215,155 Man Group P.L.C. 323,056 459,780 Marks & Spencer Group P.L.C. 311,348 2,510,758 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- UNITED KINGDOM -- (Continued) Meggitt P.L.C. 155,389 $ 1,426,498 Melrose Industries P.L.C. 246,218 1,262,286 Mondi P.L.C. 85,925 1,534,271 National Grid P.L.C. 298,564 3,751,976 # National Grid P.L.C. Sponsored ADR 61,190 3,850,686 Next P.L.C. 29,920 2,612,821 # Old Mutual P.L.C. 1,111,603 3,622,756 Pearson P.L.C. 111,757 2,337,397 Pearson P.L.C. Sponsored ADR 43,147 906,087 Pennon Group P.L.C. 63,747 696,107 Persimmon P.L.C. 71,301 1,443,573 Petrofac, Ltd. 47,799 1,121,053 Prudential P.L.C. 357,167 7,304,333 Prudential P.L.C. ADR 64,425 2,638,848 Randgold Resources, Ltd. 14,107 1,046,201 Reckitt Benckiser Group P.L.C. 119,067 9,258,539 Reed Elsevier P.L.C. 119,988 1,680,831 # Reed Elsevier P.L.C. Sponsored ADR 21,155 1,188,488 Resolution, Ltd. 341,747 1,956,762 Rexam P.L.C. 173,402 1,443,935 Rio Tinto P.L.C. 150,148 7,597,512 # Rio Tinto P.L.C. Sponsored ADR 106,931 5,421,402 Rolls-Royce Holdings P.L.C. 355,289 6,545,486 * Royal Bank of Scotland Group P.L.C. 390,043 2,297,162 * Royal Bank of Scotland Group P.L.C. Sponsored ADR 25,196 296,809 Royal Dutch Shell P.L.C. ADR(780259107) 392,289 27,271,931 Royal Dutch Shell P.L.C. ADR(780259206) 28,200 1,879,812 Royal Dutch Shell P.L.C. Class A(B09CBL4) 44,342 1,477,070 Royal Dutch Shell P.L.C. Class A(B03MLX2) 5,962 198,563 Royal Dutch Shell P.L.C. Class B 201,142 6,963,537 RSA Insurance Group P.L.C. 788,249 1,623,421 SABMiller P.L.C. 177,232 9,241,009 Sage Group P.L.C. (The) 238,173 1,284,875 Schroders P.L.C.(0239581) 9,996 341,038 Schroders P.L.C.(0240549) 23,137 954,918 Serco Group P.L.C. 86,339 771,514 Severn Trent P.L.C. 37,231 1,111,334 Shire P.L.C. 40,423 1,792,371 Shire P.L.C. ADR 18,687 2,487,240 Smith & Nephew P.L.C. 138,654 1,773,334 # Smith & Nephew P.L.C. Sponsored ADR 8,712 559,398 Smiths Group P.L.C. 79,514 1,830,045 * Sports Direct International P.L.C. 32,594 366,294 SSE P.L.C. 185,068 4,198,296 Standard Chartered P.L.C. 439,931 10,562,736 Standard Life P.L.C. 469,495 2,648,747 Tate & Lyle P.L.C. 98,727 1,252,937 Taylor Wimpey P.L.C. 686,454 1,211,156 Tesco P.L.C. 1,584,008 9,239,736 Travis Perkins P.L.C. 53,487 1,590,572 TUI Travel P.L.C. 83,647 515,679 Tullow Oil P.L.C. 145,530 2,199,717 LARGE CAP INTERNATIONAL PORTFOLIO CONTINUED SHARES VALUE++ ----------- -------------- UNITED KINGDOM -- (Continued) Unilever P.L.C. 86,045 $ 3,489,215 # Unilever P.L.C. Sponsored ADR 159,267 6,464,648 United Utilities Group P.L.C. 104,240 1,178,945 # United Utilities Group P.L.C. ADR 5,177 117,777 Vedanta Resources P.L.C. 26,516 451,778 Vodafone Group P.L.C. 3,370,096 12,343,843 Vodafone Group P.L.C. Sponsored ADR 614,634 22,630,824 Weir Group P.L.C. (The) 45,862 1,656,454 Whitbread P.L.C. 34,831 1,915,394 William Hill P.L.C. 177,809 1,141,616 WM Morrison Supermarkets P.L.C. 507,052 2,287,831 Wolseley P.L.C. 49,914 2,686,927 # Wolseley P.L.C. ADR 18,460 99,869 WPP P.L.C. 184,119 3,910,856 WPP P.L.C. Sponsored ADR 14,574 1,552,714 -------------- TOTAL UNITED KINGDOM 537,922,096 -------------- TOTAL COMMON STOCKS 2,740,974,900 -------------- PREFERRED STOCKS -- (0.1%) GERMANY -- (0.1%) Porsche Automobil Holding SE 19,267 1,799,085 -------------- UNITED KINGDOM -- (0.0%) Rolls-Royce Holdings P.L.C. 30,554,854 48,992 -------------- TOTAL PREFERRED STOCKS 1,848,077 -------------- RIGHTS/WARRANTS -- (0.0%) FRANCE -- (0.0%) * Groupe Fnac Rights 05/16/15 3 9 -------------- HONG KONG -- (0.0%) * New Hotel Rights 12/31/13 9,773 -- -------------- SPAIN -- (0.0%) * Banco Santander SA Rights 10/30/13 1,225,631 264,592 -------------- TOTAL RIGHTS/WARRANTS 264,601 -------------- SHARES/ FACE AMOUNT (000) VALUE+ ----------- -------------- SECURITIES LENDING COLLATERAL -- (8.3%) (S)@ DFA Short Term Investment Fund 21,521,175 249,000,000 @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $382,392 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $345,804) to be repurchased at $339,025 $ 339 339,024 -------------- TOTAL SECURITIES LENDING COLLATERAL 249,339,024 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $2,354,552,422) $2,992,426,602 ============== INTERNATIONAL CORE EQUITY PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 SHARES VALUE++ --------- ----------- COMMON STOCKS -- (89.7%) AUSTRALIA -- (5.8%) # Acrux, Ltd. 51,372 $ 130,082 Adelaide Brighton, Ltd. 647,812 2,357,823 #* Aditya Birla Minerals, Ltd. 222,001 71,382 * AED Oil, Ltd. 237,059 -- AGL Energy, Ltd. 155,277 2,293,847 Ainsworth Game Technology, Ltd. 17,120 70,518 * AJ Lucas Group, Ltd. 37,498 42,420 * Alcyone Resources, Ltd. 103,559 293 * Alkane Resources, Ltd. 157,833 57,919 # ALS Ltd/Queensland 164,867 1,559,597 # Altium, Ltd. 4,383 10,468 * Alumina, Ltd. 2,819,747 2,741,553 #* Alumina, Ltd. Sponsored ADR 468,068 1,816,104 Amalgamated Holdings, Ltd. 156,536 1,200,203 # Amcom Telecommunications, Ltd. 205,960 403,213 Amcor, Ltd. 593,038 6,075,308 Amcor, Ltd. Sponsored ADR 30,507 1,253,228 AMP, Ltd. 2,348,547 10,523,695 # Ansell, Ltd. 118,397 2,182,207 #* Antares Energy, Ltd. 238,797 109,199 AP Eagers, Ltd. 56,377 250,746 # APA Group 526,186 3,014,827 #* APN News & Media, Ltd. 645,579 283,473 #* Aquarius Platinum, Ltd. 299,539 196,039 #* Aquila Resources, Ltd. 96,590 206,049 ARB Corp., Ltd. 40,854 449,784 Aristocrat Leisure, Ltd. 271,926 1,298,429 Arrium, Ltd. 2,662,441 3,478,663 Asciano, Ltd. 1,102,620 6,055,421 * ASG Group, Ltd. 144,688 55,488 ASX, Ltd. 149,361 5,188,150 * Atlantic, Ltd. 34,067 6,080 Atlas Iron, Ltd. 1,491,768 1,453,791 Aurizon Holdings, Ltd. 564,672 2,556,125 * Aurora Oil & Gas, Ltd. 263,954 810,519 # Ausdrill, Ltd. 512,471 740,473 # Ausenco, Ltd. 172,182 267,752 * Austal, Ltd. 196,775 140,316 Austbrokers Holdings, Ltd. 28,641 333,038 # Austin Engineering, Ltd. 44,423 165,944 Australia & New Zealand Banking Group, Ltd. 1,021,663 32,693,574 #* Australian Agricultural Co., Ltd. 563,526 599,381 # Australian Infrastructure Fund 602,974 3,980 Australian Pharmaceutical Industries, Ltd. 476,014 290,321 Automotive Holdings Group, Ltd. 352,414 1,209,771 * AVJennings, Ltd. 200,265 115,486 * AWE, Ltd. 949,174 1,119,867 # Bank of Queensland, Ltd. 545,083 6,217,999 BC Iron, Ltd. 83,250 387,393 Beach Energy, Ltd. 2,407,063 3,251,215 Bendigo and Adelaide Bank, Ltd. 804,381 8,280,933 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- AUSTRALIA -- (Continued) BHP Billiton, Ltd. 122,318 $ 4,324,355 # BHP Billiton, Ltd. Sponsored ADR 195,277 13,804,131 #* Billabong International, Ltd. 524,825 195,300 #* Bionomics, Ltd. 19,472 12,920 Bisalloy Steel Group, Ltd. 8,498 7,403 # Blackmores, Ltd. 3,985 85,381 #* Blackthorn Resources, Ltd. 59,877 14,076 * BlueScope Steel, Ltd. 1,052,555 4,964,772 # Boart Longyear, Ltd. 770,525 312,296 #* Boom Logistics, Ltd. 320,214 56,059 # Boral, Ltd. 1,517,072 7,078,816 # Bradken, Ltd. 360,824 2,128,666 Brambles, Ltd. 253,236 2,223,091 Breville Group, Ltd. 60,870 462,962 Brickworks, Ltd. 42,787 577,807 BT Investment Management, Ltd. 67,710 319,822 * Buccaneer Energy, Ltd. 258,354 11,019 # Cabcharge Australia, Ltd. 212,282 809,669 Caltex Australia, Ltd. 159,035 2,778,838 # Cardno, Ltd. 228,192 1,527,276 * Carnarvon Petroleum, Ltd. 856,412 59,848 carsales.com, Ltd. 96,555 958,825 Cash Converters International, Ltd. 482,381 433,565 Cedar Woods Properties, Ltd. 6,943 45,461 * Centrebet International, Ltd. Claim Units 22,005 -- * Ceramic Fuel Cells, Ltd. 182,247 6,211 Challenger, Ltd. 491,725 2,789,583 * ChemGenex Pharmaceuticals, Ltd. 6,842 -- * Citigold Corp., Ltd. 806,483 37,055 * Clinuvel Pharmaceuticals, Ltd. 13,426 19,670 Clough, Ltd. 277,928 381,485 #* Coal of Africa, Ltd. 400,214 51,833 # Coca-Cola Amatil, Ltd. 94,211 1,148,077 # Cochlear, Ltd. 23,110 1,284,032 Cockatoo Coal, Ltd.() 1,271,805 68,517 #* Cockatoo Coal, Ltd.(B0PB4N8) 973,718 52,786 # Codan, Ltd. 44,929 74,402 * Coffey International, Ltd. 136,278 31,512 Commonwealth Bank of Australia 291,226 20,969,002 * Compass Resources, Ltd. 18,720 -- Computershare, Ltd. 103,208 1,047,395 Coventry Group, Ltd. 13,156 35,702 Credit Corp. Group, Ltd. 45,692 427,391 Crowe Horwath Australasia, Ltd. 240,888 142,576 Crown, Ltd. 246,785 3,934,322 # CSG, Ltd. 86,778 80,110 CSL, Ltd. 60,221 3,958,621 CSR, Ltd. 984,393 2,324,086 #* Cudeco, Ltd. 153,294 290,039 * Cue Energy Resources, Ltd. 287,579 35,348 Data#3, Ltd. 39,367 43,170 # David Jones, Ltd. 1,016,222 2,611,722 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- AUSTRALIA -- (Continued) # Decmil Group, Ltd. 232,257 $ 555,184 * Deep Yellow, Ltd. 403,728 7,584 * Devine, Ltd. 109,847 104,059 Domino's Pizza Enterprises, Ltd. 5,986 88,297 Downer EDI, Ltd. 875,959 4,069,699 #* Drillsearch Energy, Ltd. 464,566 568,928 DUET Group 852,312 1,730,110 DuluxGroup, Ltd. 220,411 1,073,339 # DWS, Ltd. 57,318 80,105 Echo Entertainment Group, Ltd. 1,373,810 3,448,022 #* Elders, Ltd. 974,226 105,651 Emeco Holdings, Ltd. 1,092,630 355,508 * Energy Resources of Australia, Ltd. 240,348 290,890 * Energy World Corp., Ltd. 1,142,002 469,401 Envestra, Ltd. 1,112,896 1,182,651 Equity Trustees, Ltd. 1,198 21,685 * Eservglobal, Ltd. 76,359 38,283 Euroz, Ltd. 64,770 71,779 # Evolution Mining, Ltd. 366,512 289,634 # Fairfax Media, Ltd. 3,592,967 2,051,486 # Fantastic Holdings, Ltd. 975 2,061 #* FAR, Ltd. 2,438,534 89,813 Finbar Group, Ltd. 2,330 3,459 FKP Property Group(6349699) 246,632 432,901 FKP Property Group(BG49KV5) 153,951 272,098 # Fleetwood Corp., Ltd. 83,044 264,748 Flight Centre, Ltd. 50,197 2,464,337 * Flinders Mines, Ltd. 416,313 15,701 #* Focus Minerals, Ltd. 5,795,439 70,978 Forge Group, Ltd. 76,644 318,852 Fortescue Metals Group, Ltd. 397,547 1,949,726 Funtastic, Ltd. 204,519 31,933 G8 Education, Ltd. 43,940 128,649 #* Geodynamics, Ltd. 62,596 5,341 Goodman Fielder, Ltd. 3,476,238 2,498,447 GrainCorp, Ltd. Class A 316,385 3,688,799 # Grange Resources, Ltd. 460,396 93,536 #* Gryphon Minerals, Ltd. 427,238 61,738 # GUD Holdings, Ltd. 141,956 795,450 * Gujarat NRE Coking Coal, Ltd. 46,225 3,032 #* Gunns, Ltd. 1,359,648 -- # GWA Group, Ltd. 448,398 1,313,674 # Harvey Norman Holdings, Ltd. 1,057,594 3,254,394 HFA Holdings, Ltd. 133,879 94,162 * Highlands Pacific, Ltd. 114,695 6,600 Hills Holdings, Ltd. 255,144 440,829 #* Horizon Oil, Ltd. 1,463,538 455,843 * Icon Energy, Ltd. 357,233 50,620 iiNET, Ltd. 180,585 1,110,896 Iluka Resources, Ltd. 259,069 2,514,636 # Imdex, Ltd. 336,336 228,775 IMF Australia, Ltd. 74,143 128,794 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- AUSTRALIA -- (Continued) Incitec Pivot, Ltd. 2,366,948 $ 5,955,062 # Independence Group NL 437,125 1,629,117 * Indophil Resources NL 246,594 36,051 #* Infigen Energy, Ltd. 693,403 170,527 Infomedia, Ltd. 80,383 45,627 Insurance Australia Group, Ltd. 1,660,910 9,699,567 Integrated Research, Ltd. 42,144 36,464 # Invocare, Ltd. 64,309 666,061 IOOF Holdings, Ltd. 311,511 2,649,093 # Iress, Ltd. 91,379 852,777 James Hardie Industries P.L.C. 201,742 2,086,672 # James Hardie Industries P.L.C. Sponsored ADR 8,092 421,431 # JB Hi-Fi, Ltd. 74,232 1,529,764 * Kagara, Ltd. 743,096 84,280 * Kangaroo Resources, Ltd. 157,028 2,360 # Kingsgate Consolidated, Ltd. 202,693 272,420 * Kingsrose Mining, Ltd. 76,233 27,599 * Lednium, Ltd. 21,998 -- # Leighton Holdings, Ltd. 120,878 2,047,771 Lend Lease Group 631,654 6,811,674 #* Linc Energy, Ltd. 542,535 735,373 Lonestar Resources, Ltd. 234,309 60,931 Lycopodium, Ltd. 6,626 30,731 # M2 Telecommunications Group, Ltd. 71,800 430,177 MACA, Ltd. 57,876 137,421 * Macmahon Holdings, Ltd. 1,841,800 261,343 Macquarie Atlas Roads Group 168,964 423,010 Macquarie Group, Ltd. 328,765 15,813,460 * Marion Energy, Ltd. 119,950 680 #* Matrix Composites & Engineering, Ltd. 24,634 15,809 # MaxiTRANS Industries, Ltd. 182,505 189,696 #* Mayne Pharma Group, Ltd. 105,045 70,557 McPherson's, Ltd. 69,593 88,699 #* Medusa Mining, Ltd. 119,658 212,005 # Melbourne IT, Ltd. 123,857 188,756 Mermaid Marine Australia, Ltd. 320,906 1,136,870 * Metals X, Ltd. 522,805 78,806 # Metcash, Ltd. 1,410,792 4,464,619 Miclyn Express Offshore, Ltd. 105,357 208,917 Mincor Resources NL 321,552 171,454 * Mineral Deposits, Ltd. 110,432 326,134 Mineral Resources, Ltd. 218,937 2,340,838 * Molopo Energy, Ltd. 57,352 11,375 # Monadelphous Group, Ltd. 52,987 909,181 Mortgage Choice, Ltd. 98,654 278,075 Mount Gibson Iron, Ltd. 1,289,693 1,081,758 # Myer Holdings, Ltd. 1,153,096 2,725,211 #* Nanosonics, Ltd. 11,184 9,187 National Australia Bank, Ltd. 1,341,565 44,836,230 * Navigator Resources, Ltd. 296 -- Navitas, Ltd. 121,790 667,161 #* Neon Energy, Ltd. 639,154 175,033 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- AUSTRALIA -- (Continued) # New Hope Corp., Ltd. 331,438 $ 1,182,784 # Newcrest Mining, Ltd. 577,907 5,603,779 * Newsat, Ltd. 27,533 12,498 * Nexus Energy, Ltd. 1,749,892 128,931 # NIB Holdings, Ltd. 543,089 1,232,531 #* Nido Petroleum, Ltd. 1,055,002 42,793 * Northern Iron, Ltd. 51,752 13,870 Northern Star Resources, Ltd. 266,062 220,841 # NRW Holdings, Ltd. 250,152 330,302 # Nufarm, Ltd. 332,517 1,533,422 Oakton, Ltd. 50,767 84,694 # Oil Search, Ltd. 338,166 2,718,708 * OM Holdings, Ltd. 26,600 8,050 # Orica, Ltd. 197,309 3,928,079 Origin Energy, Ltd. 1,217,166 16,826,665 # OrotonGroup, Ltd. 15,566 79,012 * Otto Energy, Ltd. 168,000 17,433 # OZ Minerals, Ltd. 590,383 2,012,344 # Pacific Brands, Ltd. 1,803,791 1,201,422 #* Paladin Energy, Ltd. 1,440,568 569,082 PanAust, Ltd. 532,344 1,010,261 Panoramic Resources, Ltd. 300,447 92,423 * PaperlinX, Ltd. 745,156 37,312 Patties Foods, Ltd. 5,122 6,725 #* Peet, Ltd. 222,729 294,718 * Perilya, Ltd. 285,584 91,815 # Perpetual, Ltd. 32,640 1,421,034 #* Perseus Mining, Ltd. 497,555 203,048 * Petsec Energy, Ltd. 48,701 4,415 #* Pharmaxis, Ltd. 189,941 22,448 Platinum Asset Management, Ltd. 82,160 479,043 #* Platinum Australia, Ltd. 400,751 11,037 * Pluton Resources, Ltd. 121,600 8,079 * PMP, Ltd. 379,844 144,860 Premier Investments, Ltd. 163,651 1,233,299 Primary Health Care, Ltd. 952,146 4,442,163 * Prime Aet&D Holdings No.1, Ltd 26 -- Prime Media Group, Ltd. 137,926 131,552 PrimeAg Australia, Ltd. 26,025 10,877 Programmed Maintenance Services, Ltd. 202,326 527,275 #* Qantas Airways, Ltd. 2,208,543 2,596,504 # QBE Insurance Group, Ltd. 669,016 9,369,087 #* Ramelius Resources, Ltd. 400,885 50,674 # Ramsay Health Care, Ltd. 43,427 1,594,197 # RCR Tomlinson, Ltd. 236,987 794,281 # REA Group, Ltd. 24,360 956,077 Reckon, Ltd. 43,643 94,655 * Red Fork Energy, Ltd. 581,251 262,914 Redflex Holdings, Ltd. 49,622 57,099 Reece Australia, Ltd. 10,902 288,338 # Regional Express Holdings, Ltd. 17,416 16,980 # Regis Resources, Ltd. 240,069 782,227 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- AUSTRALIA -- (Continued) # Reject Shop, Ltd. (The) 20,034 $ 338,035 Resolute Mining, Ltd. 1,063,716 643,933 * Resource Generation, Ltd. 41,318 9,004 # Retail Food Group, Ltd.(B15SCH6) 74,271 306,168 Retail Food Group, Ltd.() 7,321 30,169 # Ridley Corp., Ltd. 386,533 311,956 Rio Tinto, Ltd. 218,169 13,127,706 * RiverCity Motorway Group 133,238 -- * Roc Oil Co., Ltd. 1,316,484 602,204 # SAI Global, Ltd. 366,942 1,425,993 # Salmat, Ltd. 68,805 138,571 * Samson Oil & Gas, Ltd. 456,014 10,918 #* Samson Oil & Gas, Ltd. Sponsored ADR 64,300 31,468 Santos, Ltd. 1,100,053 15,743,983 * Saracen Mineral Holdings, Ltd. 1,022,976 225,670 # Sedgman, Ltd. 85,757 69,771 # Seek, Ltd. 104,030 1,278,042 Select Harvests, Ltd. 19,859 78,954 * Senex Energy, Ltd. 1,538,872 1,206,185 # Servcorp, Ltd. 31,948 121,208 # Seven Group Holdings, Ltd. 195,745 1,541,825 Seven West Media, Ltd. 452,440 1,077,986 Sigma Pharmaceuticals, Ltd. 2,141,557 1,154,385 * Silex Systems, Ltd. 70,513 159,859 Silver Chef, Ltd. 3,658 28,330 #* Silver Lake Resources, Ltd. 283,424 204,263 #* Sims Metal Management, Ltd. 312,788 2,962,806 Sims Metal Management, Ltd. Sponsored ADR 3,500 33,075 * Sino Strategic International, Ltd. 9,056 -- # Sirtex Medical, Ltd. 15,879 186,323 Skilled Group, Ltd. 314,933 1,052,435 Slater & Gordon, Ltd. 10,773 39,422 # SMS Management & Technology, Ltd. 100,364 436,828 Sonic Healthcare, Ltd. 318,277 4,858,568 Southern Cross Media Group, Ltd. 978,722 1,746,542 SP AusNet 1,055,983 1,247,458 Spark Infrastructure Group 1,402,503 2,246,351 # Specialty Fashion Group, Ltd. 67,582 56,823 #* St Barbara, Ltd. 851,056 382,258 #* Starpharma Holdings, Ltd. 96,088 80,690 * Straits Resources, Ltd. 233,593 1,973 STW Communications Group, Ltd. 717,115 1,078,709 Suncorp Group, Ltd. 1,243,956 15,685,534 #* Sundance Energy Australia, Ltd. 287,917 307,982 * Sundance Resources, Ltd. 185,887 18,419 # Sunland Group, Ltd. 162,346 245,660 Super Retail Group, Ltd. 154,786 1,960,670 Swick Mining Services, Ltd. 139,495 44,225 Sydney Airport 79,135 313,408 Tabcorp Holdings, Ltd. 1,362,905 4,635,613 #* Tanami Gold NL 250,652 12,103 * Tap Oil, Ltd. 383,218 197,206 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ------------ AUSTRALIA -- (Continued) Tassal Group, Ltd. 107,949 $ 317,310 Tatts Group, Ltd. 2,485,863 7,381,227 Technology One, Ltd. 92,639 177,595 Telstra Corp., Ltd. 281,830 1,379,071 # Telstra Corp., Ltd. ADR 36,500 893,520 #* Ten Network Holdings, Ltd. 3,210,250 850,899 TFS Corp., Ltd. 173,051 122,843 Thorn Group, Ltd. 54,904 132,945 #* Tiger Resources, Ltd. 379,386 141,638 Toll Holdings, Ltd. 1,339,901 7,299,528 * Toro Energy, Ltd. 33,302 2,610 Tox Free Solutions, Ltd. 178,757 557,411 # TPG Telecom, Ltd. 426,055 1,878,308 # Transfield Services, Ltd. 832,254 1,049,691 * Transpacific Industries Group, Ltd. 1,638,758 1,773,651 Transurban Group 393,001 2,636,394 Treasury Group, Ltd. 367 3,190 Treasury Wine Estates, Ltd. 1,246,420 5,535,396 #* Troy Resources, Ltd. 116,751 147,153 Trust Co., Ltd. (The) 23,082 182,060 # UGL, Ltd. 328,246 2,282,777 * Unity Mining, Ltd. 255,688 14,706 UXC, Ltd. 456,869 411,935 Village Roadshow, Ltd. 117,928 783,387 #* Virgin Australia Holdings, Ltd. 2,536,573 995,886 Virgin Australia Holdings, Ltd. (B7L5734) 3,195,173 3 * Vision Eye Institute, Ltd. 4,567 3,130 Vocus Communications, Ltd. 28,177 69,276 Warrnambool Cheese & Butter Factory Co. Holding, Ltd. 12,207 95,680 # Washington H Soul Pattinson & Co., Ltd. 143,653 2,045,943 * Watpac, Ltd. 137,522 128,229 WDS, Ltd. 74,726 59,345 # Webjet, Ltd. 41,661 124,009 Webster, Ltd. 17,208 15,474 Wesfarmers, Ltd. 579,851 23,529,741 # Western Areas, Ltd. 234,798 619,570 Westpac Banking Corp. 896,764 29,115,366 # Westpac Banking Corp. Sponsored ADR 262,300 8,564,095 #* White Energy Co., Ltd. 2,379 472 #* Whitehaven Coal, Ltd. 219,600 336,381 # Wide Bay Australia, Ltd. 22,583 125,109 #* Windimurra Vanadium, Ltd. 7,797 -- Woodside Petroleum, Ltd. 292,668 10,729,182 Woolworths, Ltd. 93,132 3,071,162 # WorleyParsons, Ltd. 70,236 1,462,591 # Wotif.com Holdings, Ltd. 65,120 273,212 ------------ TOTAL AUSTRALIA 613,353,447 ------------ AUSTRIA -- (0.5%) * A-TEC Industries AG 19,046 -- Agrana Beteiligungs AG 3,273 399,074 # Andritz AG 26,662 1,641,894 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- AUSTRIA -- (Continued) Atrium European Real Estate, Ltd. 123,891 $ 739,913 Austria Technologie & Systemtechnik AG 10,416 99,287 CA Immobilien Anlagen AG 47,864 727,876 DO & Co. AG 45 2,155 Erste Group Bank AG 279,190 9,802,301 # EVN AG 42,661 650,120 Flughafen Wien AG 12,244 944,556 Frauenthal Holding AG 70 876 IMMOFINANZ AG 714,447 3,128,979 # Kapsch TrafficCom AG 1,861 100,451 # Lenzing AG 8,735 651,620 Mayr Melnhof Karton AG 10,122 1,128,787 Oberbank AG 2,295 149,610 # Oesterreichische Post AG 24,206 1,135,086 OMV AG 136,604 6,516,371 Palfinger AG 7,182 265,060 POLYTEC Holding AG 16,082 154,804 # Raiffeisen Bank International AG 88,260 3,237,373 RHI AG 20,705 764,032 Rosenbauer International AG 1,710 138,183 S IMMO AG 34,620 232,614 Schoeller-Bleckmann Oilfield Equipment AG 7,961 918,455 Semperit AG Holding 10,320 505,373 Strabag SE 38,286 1,006,349 Telekom Austria AG 103,543 851,205 Telekom Austria AG ADR 4,200 69,846 # UNIQA Insurance Group AG 69,355 847,894 # Verbund AG 39,405 924,369 # Vienna Insurance Group AG Wiener Versicherung Gruppe 43,656 2,309,528 Voestalpine AG 129,286 6,099,133 # Wienerberger AG 193,786 3,361,405 * Wolford AG 1,281 34,156 Zumtobel AG 40,779 727,709 ----------- TOTAL AUSTRIA 50,266,444 ----------- BELGIUM -- (1.1%) * Ablynx NV 12,966 127,239 Ackermans & van Haaren NV 45,581 4,936,543 Ageas 383,786 16,308,701 * AGFA-Gevaert NV 346,553 822,992 Anheuser-Busch InBev NV 80,499 8,344,817 Anheuser-Busch InBev NV Sponsored ADR 67,770 7,029,782 Arseus NV 40,020 1,235,959 Atenor Group 43 1,959 Banque Nationale de Belgique 270 1,058,649 Barco NV 24,361 1,843,969 # Belgacom SA 141,172 3,862,684 Cie d'Entreprises CFE 15,519 1,226,311 Cie Immobiliere de Belgique SA 2,277 111,226 # Cie Maritime Belge SA 21,305 567,088 # Colruyt SA 13,445 750,063 D'ieteren SA 32,205 1,517,622 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ------------ BELGIUM -- (Continued) * Deceuninck NV 94,211 $ 223,677 # Delhaize Group SA 130,264 8,319,238 # Delhaize Group SA Sponsored ADR 63,009 4,028,795 # Econocom Group 44,154 429,014 # Elia System Operator SA 32,821 1,500,892 * Euronav NV 25,353 178,610 EVS Broadcast Equipment SA 9,804 641,394 Exmar NV 46,071 664,735 #* Galapagos NV 31,337 605,690 * Hamon & CIE SA 743 14,240 * Ion Beam Applications 33,269 274,528 Jensen-Group NV 2,121 31,211 KBC Groep NV 272,420 14,841,842 Kinepolis Group NV 11,337 1,654,125 Lotus Bakeries 56 52,027 Melexis NV 14,492 471,220 Mobistar SA 20,443 354,358 # NV Bekaert SA 65,580 2,746,020 # Nyrstar 259,682 1,065,485 #* Picanol 107 3,536 * RealDolmen NV/SA 1,807 42,384 Recticel SA 40,704 273,261 Resilux 424 47,933 * Roularta Media Group NV 4,380 70,298 Sapec 190 12,073 # Sioen Industries NV 8,635 102,289 Sipef SA 10,073 764,566 Solvay SA 49,798 7,786,564 Telenet Group Holding NV 35,371 1,938,695 # Tessenderlo Chemie NV 41,666 1,042,963 #* ThromboGenics NV 18,779 517,079 # UCB SA 90,457 5,937,763 Umicore SA 153,440 7,306,650 Van de Velde NV 5,065 257,443 ------------ TOTAL BELGIUM 113,946,202 ------------ CANADA -- (7.9%) #* 5N Plus, Inc. 51,842 135,739 Aastra Technologies, Ltd. 15,336 417,138 Absolute Software Corp. 52,868 374,206 Acadian Timber Corp. 400 4,987 #* Advantage Oil & Gas, Ltd. 331,582 1,348,398 Aecon Group, Inc. 114,036 1,580,415 # AG Growth International, Inc. 18,778 684,375 # AGF Management, Ltd. Class B 128,056 1,691,201 * AgJunction, Inc. 46,880 46,311 Agnico Eagle Mines, Ltd. 90,549 2,688,723 Agrium, Inc. 88,292 7,536,554 Aimia, Inc. 248,247 4,388,042 * Ainsworth Lumber Co., Ltd. 134,429 507,985 #* Air Canada Class A 69,620 383,940 Akita Drilling, Ltd. Class A 11,400 167,832 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- CANADA -- (Continued) # Alacer Gold Corp. 257,247 $ 713,033 * Alamos Gold, Inc.(011527108) 8,085 129,117 # Alamos Gold, Inc.(2411707) 128,069 2,040,211 # Alaris Royalty Corp. 8,205 279,992 #* Alexco Resource Corp. 70,276 97,732 Algoma Central Corp. 11,860 172,557 # Algonquin Power & Utilities Corp. 313,444 2,023,189 Alimentation Couche Tard, Inc. Class B 44,500 3,014,041 Alliance Grain Traders, Inc. 29,051 448,589 # AltaGas, Ltd. 83,577 3,094,108 #* Alterra Power Corp. 170,495 48,239 Altus Group, Ltd. 22,926 307,835 Amerigo Resources, Ltd. 153,100 58,735 Amica Mature Lifestyles, Inc. 2,500 21,004 * Anderson Energy, Ltd. 116,562 16,210 Andrew Peller, Ltd. Class A 2,000 26,471 #* Angle Energy, Inc. 143,630 516,580 * Antrim Energy, Inc. 134,688 12,272 # ARC Resources, Ltd. 144,060 3,824,467 #* Argonaut Gold Inc. 228,855 1,273,063 Arsenal Energy, Inc. 13,035 62,507 * Artek Exploration, Ltd. 31,460 108,623 # Atco, Ltd. Class I 49,068 2,277,275 * Atna Resources, Ltd. 175,488 24,405 * Atrium Innovations, Inc. 38,236 696,400 * ATS Automation Tooling Systems, Inc. 117,449 1,624,337 * Aura Minerals, Inc. 174,033 20,030 AuRico Gold, Inc.(05155C105) 18,902 77,687 # AuRico Gold, Inc.(2287317) 419,300 1,741,302 AutoCanada, Inc. 20,842 767,595 * Axia NetMedia Corp. 50,400 111,662 * B2Gold Corp. 898,441 2,223,161 Badger Daylighting, Ltd. 5,165 366,675 #* Ballard Power Systems, Inc. 162,070 219,171 # Bank of Montreal 273,400 19,042,160 Bank of Nova Scotia(064149107) 147,567 8,967,647 Bank of Nova Scotia(2076281) 264,875 16,103,606 * Bankers Petroleum, Ltd. 510,936 1,960,144 Barrick Gold Corp.(067901108) 183,306 3,554,303 Barrick Gold Corp.(2024644) 273,994 5,329,304 * Bauer Performance Sports, Ltd. 7,536 92,732 Baytex Energy Corp.(07317Q105) 1,500 62,715 # Baytex Energy Corp.(B4VGVM3) 20,537 857,210 # BCE, Inc. 39,916 1,736,910 # Bell Aliant, Inc. 72,619 1,839,417 #* Bellatrix Exploration, Ltd. 184,153 1,379,403 * Birch Mountain Resources, Ltd. 1,200 -- * Birchcliff Energy, Ltd. 194,728 1,391,381 # Bird Construction, Inc. 28,293 355,206 # Black Diamond Group, Ltd. 37,197 974,296 #* BlackBerry, Ltd.(09228F103) 179,680 1,421,269 #* BlackBerry, Ltd.(BCBHZ31) 282,291 2,228,221 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- CANADA -- (Continued) #* BlackPearl Resources, Inc. 380,116 $ 707,260 BMTC Group, Inc. Class A 1,600 20,548 * BNK Petroleum, Inc. 65,595 101,917 Bombardier, Inc. Class A 25,790 117,986 Bombardier, Inc. Class B 333,700 1,517,036 Bonavista Energy Corp. 344,733 3,977,498 # Bonterra Energy Corp. 8,129 456,874 * Boralex, Inc. Class A 50,865 511,748 #* Brigus Gold Corp. 266,622 199,458 Brookfield Asset Management, Inc. Class A 79,800 3,159,396 # Brookfield Office Properties, Inc. 76,174 1,423,171 * Brookfield Residential Properties, Inc.(11283W104) 18,518 408,877 * Brookfield Residential Properties, Inc.(B54FPW2) 3,123 69,280 CAE, Inc. 198,315 2,272,924 Caledonia Mining Corp. 8,300 6,289 Calfrac Well Services, Ltd. 65,824 2,051,772 Calian Technologies, Ltd. 3,277 68,799 * Calvalley Petroleums, Inc. Class A 59,022 87,176 Cameco Corp.(13321L108) 79,998 1,519,962 Cameco Corp.(2166160) 228,383 4,334,820 Canaccord Financial, Inc. 148,321 941,719 #* Canacol Energy, Ltd. 50,184 230,549 Canada Bread Co., Ltd. 7,900 528,031 #* Canada Lithium Corp. 400,020 151,545 # Canadian Energy Services & Technology Corp. 31,641 569,608 # Canadian Imperial Bank of Commerce 89,355 7,601,581 # Canadian National Railway Co. 54,400 5,976,617 Canadian Natural Resources, Ltd.(136385101) 85,829 2,725,071 Canadian Natural Resources, Ltd.(2171573) 474,950 15,073,223 # Canadian Oil Sands, Ltd. 111,500 2,173,002 Canadian Pacific Railway, Ltd. 38,902 5,560,787 # Canadian Tire Corp., Ltd. Class A 84,010 7,797,907 Canadian Utilities, Ltd. Class A 64,764 2,379,618 # Canadian Western Bank 112,278 3,600,994 * Canam Group, Inc. Class A 60,100 651,350 CanElson Drilling, Inc. 46,952 282,347 # Canexus Corp. 93,549 651,384 * Canfor Corp. 135,739 2,813,331 # Canfor Pulp Products, Inc. 61,259 635,709 * Cangene Corp. 35,800 85,839 # CanWel Building Materials Group, Ltd. 46,300 128,334 # Canyon Services Group, Inc. 75,458 827,205 # Capital Power Corp. 89,389 1,851,822 Capstone Infrastructure Corp. 156,092 588,349 * Capstone Mining Corp. 608,262 1,615,965 * Cardero Resource Corp. 42,958 5,356 Cascades, Inc. 136,579 764,994 #* Cash Store Financial Services, Inc. (The) 7,699 12,036 * Catamaran Corp.(148887102) 19,976 938,073 * Catamaran Corp.(B8J4N87) 38,400 1,801,686 Cathedral Energy Services, Ltd. 43,647 258,286 CCL Industries, Inc. Class B 42,600 2,925,392 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- CANADA -- (Continued) * Celestica, Inc. 349,750 $3,840,826 # Cenovus Energy, Inc. 160,717 4,775,344 Centerra Gold, Inc. 220,493 881,845 * Cequence Energy, Ltd. 246,170 448,591 Cervus Equipment Corp. 1,000 19,844 #* CGI Group, Inc. Class A 124,286 4,169,687 * China Gold International Resources Corp., Ltd. 252,700 678,617 * Chinook Energy, Inc. 26,878 22,427 Churchill Corp. Class A 19,476 184,925 # CI Financial Corp. 30,700 1,021,125 # Cineplex, Inc. 58,423 2,353,394 Clairvest Group, Inc. 1,100 24,149 # Clarke, Inc. 13,900 104,252 * Claude Resources, Inc. 262,411 47,819 Cogeco Cable, Inc. 27,626 1,306,250 Cogeco, Inc. 1,330 60,208 # Colabor Group, Inc. 27,021 120,249 * COM DEV International, Ltd. 127,319 512,866 Computer Modelling Group, Ltd. 11,568 297,119 #* Connacher Oil and Gas, Ltd. 783,434 146,521 Constellation Software, Inc. 6,262 1,140,751 # Contrans Group, Inc. Class A 19,997 257,382 #* Copper Mountain Mining Corp. 175,592 289,664 Corby Distilleries, Ltd. Class A 11,550 226,536 * Corridor Resources, Inc. 89,500 66,096 # Corus Entertainment, Inc. Class B 143,717 3,349,468 Cott Corp.(22163N106) 10,547 86,485 Cott Corp.(2228952) 159,584 1,307,100 # Crescent Point Energy Corp. 159,072 6,177,361 * Crew Energy, Inc. 240,616 1,398,487 * Crocotta Energy, Inc. 117,341 342,125 * CVTech Group, Inc. 9,700 9,210 # Davis + Henderson Corp. 100,009 2,575,401 * DeeThree Exploration, Ltd. 135,112 1,179,225 * Delphi Energy Corp. 201,829 313,588 #* Denison Mines Corp. 934,328 1,030,525 * Descartes Systems Group, Inc. (The) 61,729 756,034 DHX Media, Ltd. 53,331 205,621 # DirectCash Payments, Inc. 5,147 90,979 Dollarama, Inc. 30,462 2,618,333 * Dominion Diamond Corp.(257287102) 59,215 797,034 * Dominion Diamond Corp.(B95LX89) 110,079 1,486,513 Dorel Industries, Inc. Class B 52,606 1,954,593 #* DragonWave, Inc. 43,606 62,733 #* Dundee Precious Metals, Inc. 187,907 801,982 E-L Financial Corp., Ltd. 88 58,507 * Eastern Platinum, Ltd. 1,024,200 58,938 easyhome, Ltd. 500 6,925 #* EGI Financial Holdings, Inc. 900 12,344 # Eldorado Gold Corp.(284902103) 98,650 665,888 Eldorado Gold Corp.(2307873) 413,513 2,788,085 Emera, Inc. 24,282 715,896 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- CANADA -- (Continued) Empire Co., Ltd. 47,838 $ 3,522,756 # Enbridge Income Fund Holdings, Inc. 55,653 1,246,341 # Enbridge, Inc.(29250N105) 2,999 130,127 # Enbridge, Inc.(2466149) 101,959 4,420,032 # Encana Corp. 219,990 3,941,316 * Endeavour Mining Corp. 78,441 46,644 * Endeavour Silver Corp. 84,793 352,135 Enerflex, Ltd. 43,900 621,880 #* Energy Fuels, Inc. 572,814 76,914 Enerplus Corp.(292766102) 200,025 3,454,432 # Enerplus Corp.(B584T89) 175,051 3,020,350 Enghouse Systems, Ltd. 11,629 309,504 Ensign Energy Services, Inc. 236,315 4,038,875 #* Epsilon Energy, Ltd. 83,020 253,204 Equal Energy, Ltd. 5,100 24,212 Equitable Group, Inc. 13,470 631,739 * Essential Energy Services Trust 158,856 449,456 Evertz Technologies, Ltd. 13,600 217,830 * Excellon Resources, Inc. 16,100 21,309 # Exchange Income Corp. 11,088 212,582 Exco Technologies, Ltd. 7,600 53,211 #* EXFO, Inc. 31,042 175,061 # Extendicare Inc. 70,498 452,339 Fairfax Financial Holdings, Ltd. 22,115 9,650,722 # Fiera Capital Corp. 900 11,998 Finning International, Inc. 71,600 1,650,855 # First Capital Realty, Inc. 67,626 1,175,258 #* First Majestic Silver Corp. 86,039 973,731 First National Financial Corp. 278 5,810 # First Quantum Minerals, Ltd. 630,540 11,961,908 FirstService Corp. 12,679 527,030 # Fortis, Inc. 58,528 1,820,422 #* Fortress Paper, Ltd. Class A 20,464 113,247 * Fortuna Silver Mines, Inc. 206,174 816,668 * Fraser Papers, Inc. 6,400 -- Gamehost, Inc. 1,178 16,224 * GBS Gold International, Inc. 42,400 -- # Genivar, Inc. 64,142 1,835,704 # Genworth MI Canada, Inc. 103,111 3,244,686 George Weston, Ltd. 37,693 3,070,679 # Gibson Energy, Inc. 95,881 2,355,069 Gildan Activewear, Inc. 105,500 5,085,532 Glacier Media, Inc. 22,700 30,698 Glentel, Inc. 9,100 124,283 #* GLG Life Tech Corp. 2,810 1,482 Gluskin Sheff + Associates, Inc. 9,033 174,136 * GLV, Inc. Class A 12,023 46,701 GMP Capital, Inc. 92,600 551,524 Goldcorp, Inc.(2676302) 232,421 5,920,588 Goldcorp, Inc.(380956409) 232,636 5,915,933 #* Golden Star Resources, Ltd. 423,301 211,113 * Gran Tierra Energy, Inc.(38500T101) 55,835 423,788 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- CANADA -- (Continued) * Gran Tierra Energy, Inc.(B2PPCS5) 506,396 $3,817,458 * Great Canadian Gaming Corp. 85,763 1,054,507 * Great Panther Silver, Ltd. 89,666 73,098 # Great-West Lifeco, Inc. 117,900 3,646,741 #* Guyana Goldfields, Inc. 113,617 265,885 Heroux-Devtek, Inc. 36,412 326,526 High Liner Foods, Inc. 500 19,661 # HNZ Group, Inc. 6,940 150,761 # Home Capital Group, Inc. 27,800 2,206,349 Horizon North Logistics, Inc. 101,648 828,665 HudBay Minerals, Inc.(443628102) 11,699 96,868 # HudBay Minerals, Inc.(B05BDX1) 311,110 2,536,263 # Husky Energy, Inc. 151,968 4,320,080 IAMGOLD Corp.(2446646) 470,253 2,403,921 IAMGOLD Corp.(450913108) 214,417 1,093,527 # IBI Group, Inc. 16,312 29,256 # IGM Financial, Inc. 29,100 1,402,181 #* Imax Corp. 36,920 1,073,978 * Imperial Metals Corp. 59,400 751,437 Imperial Oil, Ltd. 34,003 1,484,829 * Imris, Inc. 14,500 21,973 Indigo Books & Music, Inc. 5,523 59,592 Industrial Alliance Insurance & Financial Services, Inc. 187,966 8,429,761 # Innergex Renewable Energy, Inc. 107,267 940,316 Intact Financial Corp. 100,012 6,237,741 * International Forest Products, Ltd. Class A 127,406 1,443,116 Intertape Polymer Group, Inc. 97,684 1,405,323 * Ithaca Energy, Inc. 441,355 1,032,855 #* Ivanhoe Energy, Inc. 59,863 40,764 * Ivernia, Inc. 156,000 20,947 #* Jaguar Mining, Inc. 132,369 24,121 # Jean Coutu Group PJC, Inc. (The) Class A 74,000 1,308,032 Just Energy Group, Inc.(48213W101) 6,432 45,732 # Just Energy Group, Inc.(B63MCN1) 172,985 1,227,726 K-Bro Linen, Inc. 1,842 61,833 * Katanga Mining, Ltd. 525,231 277,060 * Kelt Exploration, Ltd. 31,250 257,757 # Keyera Corp. 26,559 1,571,659 # Killam Properties, Inc. 70,318 742,532 * Kingsway Financial Services, Inc. 15,975 51,174 Kinross Gold Corp.(496902404) 52,598 266,672 Kinross Gold Corp.(B03Z841) 925,376 4,703,873 #* Kirkland Lake Gold, Inc. 60,712 211,952 #* Lake Shore Gold Corp. 152,339 57,712 * Laramide Resources, Ltd. 84,421 30,363 Laurentian Bank of Canada 67,109 2,996,139 * Le Chateau, Inc. Class A 15,700 65,953 * Legacy Oil + Gas, Inc. 315,624 2,137,156 # Leisureworld Senior Care Corp. 54,473 555,884 Leon's Furniture, Ltd. 36,579 464,144 # Lightstream Resources, Ltd. 353,184 2,269,534 Linamar Corp. 95,072 3,196,878 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- CANADA -- (Continued) # Liquor Stores N.A., Ltd. 40,350 $ 581,653 # Loblaw Cos., Ltd. 93,621 4,282,152 #* Long Run Exploration, Ltd. 213,487 1,187,576 * Lucara Diamond Corp. 14,000 17,187 #* Lundin Mining Corp. 820,709 3,699,547 MacDonald Dettwiler & Associates, Ltd. 31,419 2,397,143 # Magna International, Inc. 167,874 14,218,533 * Mainstreet Equity Corp. 5,682 172,152 Major Drilling Group International 148,288 1,169,067 # Manitoba Telecom Services, Inc. 43,131 1,219,077 Manulife Financial Corp.(56501R106) 300,178 5,313,151 Manulife Financial Corp.(2492519) 747,004 13,232,786 # Maple Leaf Foods, Inc. 148,202 2,181,845 Martinrea International, Inc. 147,572 1,563,967 * Maxim Power Corp. 24,537 90,839 #* MBAC Fertilizer Corp. 12,700 24,605 McCoy Corp. 1,600 11,033 Mediagrif Interactive Technologies, Inc. 1,100 20,573 # Medical Facilities Corp. 3,586 57,368 #* MEG Energy Corp. 146,488 4,688,347 #* MEGA Brands, Inc. 10,348 155,818 Melcor Developments, Ltd. 100 1,879 * Mercator Minerals, Ltd. 131,933 9,490 # Methanex Corp. 127,300 7,382,948 Metro, Inc. 80,200 5,017,452 * MGM Energy Corp. 248 43 # Migao Corp. 61,406 60,072 #* Mood Media Corp. 78,868 49,924 # Morneau Shepell, Inc. 62,007 850,429 MTY Food Group, Inc. 700 21,255 # Mullen Group, Ltd. 107,832 2,889,585 National Bank of Canada 103,598 8,990,119 Nevsun Resources, Ltd. 382,882 1,395,436 # New Flyer Industries, Inc. 11,050 114,564 #* New Gold, Inc. 590,399 3,465,441 * New Millennium Iron Corp. 65,755 44,776 Newalta Corp. 87,976 1,371,131 #* Niko Resources, Ltd. 68,415 219,815 Norbord, Inc. 38,337 1,088,357 * Nordion, Inc. 145,226 1,202,034 * North American Energy Partners, Inc. 15,676 94,193 #* North American Palladium, Ltd. 239,959 218,636 North West Co., Inc. (The) 29,218 726,632 # Northland Power, Inc. 83,751 1,326,971 #* Novagold Resources, Inc. 100,671 217,244 * NuVista Energy, Ltd. 191,705 1,222,691 #* OceanaGold Corp. 473,904 790,863 Onex Corp. 79,487 4,199,817 Open Text Corp. 49,000 3,600,806 * Orvana Minerals Corp. 85,324 33,961 #* Osisko Mining Corp. 794,594 3,879,042 Pacific Rubiales Energy Corp. 241,871 5,003,748 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- CANADA -- (Continued) * Paladin Labs, Inc. 11,933 $ 729,611 Pan American Silver Corp.(697900108) 29,033 308,040 Pan American Silver Corp.(2669272) 259,003 2,752,368 * Paramount Resources, Ltd. Class A 37,465 1,298,240 * Parex Resources, Inc. 93,041 538,088 # Parkland Fuel Corp. 45,431 832,673 # Pason Systems, Inc. 43,159 896,999 * Patheon, Inc. 15,154 82,263 * Pembina Pipeline Corp.(B4PPQG5) 17,560 575,968 # Pembina Pipeline Corp.(B4PT2P8) 137,904 4,524,718 # Pengrowth Energy Corp. 979,399 6,293,553 Penn West Petroleum, Ltd.(707887105) 35,901 401,732 # Penn West Petroleum, Ltd.(B63FY34) 498,230 5,562,171 #* Perpetual Energy, Inc. 88,029 92,871 * Petaquilla Minerals, Ltd. 99,811 40,206 * Petrobank Energy & Resources, Ltd. 156,828 55,653 # Petrominerales, Ltd. 182,934 2,103,658 # Peyto Exploration & Development Corp. 70,760 2,132,328 # PHX Energy Services Corp. 25,887 305,385 #* Pilot Gold, Inc. 10,300 8,990 #* Points International, Ltd. 6,420 136,694 * Polaris Minerals Corp. 7,200 12,085 #* Poseidon Concepts Corp. 64,303 187 Potash Corp. of Saskatchewan, Inc. 50,900 1,581,700 Precision Drilling Corp.(74022D308) 30,763 325,780 # Precision Drilling Corp.(B5YPLH9) 412,344 4,362,110 Premium Brands Holdings Corp. 27,589 527,622 * Primero Mining Corp.(74164W106) 101,889 582,805 * Primero Mining Corp.(B4Z8FV2) 54,163 308,568 # Progressive Waste Solutions, Ltd. 147,062 3,950,709 Pulse Seismic, Inc. 82,887 298,112 * Pure Technologies, Ltd. 6,396 35,579 QLT, Inc. 68,696 297,146 # Quebecor, Inc. Class B 119,800 2,962,110 #* Questerre Energy Corp. Class A 81,025 106,464 * Ram Power Corp. 117,525 15,780 Reitmans Canada, Ltd. 1,346 8,778 Reitmans Canada, Ltd. Class A 93,037 611,234 Richelieu Hardware, Ltd. 12,606 556,035 #* Richmont Mines, Inc. 29,228 38,124 # Ritchie Bros Auctioneers, Inc. 62,100 1,227,527 * RMP Energy, Inc. 190,192 1,138,252 * Rock Energy, Inc. 25,600 76,605 Rocky Mountain Dealerships, Inc. 24,542 280,103 # Rogers Communications, Inc. Class B 37,700 1,710,990 # Rogers Sugar, Inc. 106,123 554,712 # RONA, Inc. 233,689 2,738,867 # Royal Bank of Canada 326,040 21,895,479 * RS Technologies, Inc. 174 -- # Russel Metals, Inc. 98,158 2,711,313 * San Gold Corp. 182,431 25,370 #* Sandstorm Gold, Ltd. 47,767 257,469 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- CANADA -- (Continued) * Sandvine Corp. 343,887 $ 874,023 #* Santonia Energy, Inc. 175,025 340,767 Saputo, Inc. 29,700 1,469,547 Savanna Energy Services Corp. 168,601 1,267,762 * Scorpio Mining Corp. 182,679 48,182 Sears Canada, Inc. 4,682 65,112 Secure Energy Services, Inc. 103,542 1,468,744 SEMAFO, Inc. 434,347 1,178,921 * Serinus Energy, Inc. 346 1,317 # Shaw Communications, Inc. Class B 77,902 1,863,402 ShawCor, Ltd. 55,588 2,336,759 Sherritt International Corp. 567,847 1,944,290 Shoppers Drug Mart Corp. 132,800 7,759,244 * Shore Gold, Inc. 249,227 38,245 * Sierra Wireless, Inc.(2418968) 51,526 933,018 * Sierra Wireless, Inc.(826516106) 8,005 144,570 * Silver Standard Resources, Inc.(82823L106) 29,820 167,588 #* Silver Standard Resources, Inc.(2218458) 112,437 633,007 Silver Wheaton Corp. 67,780 1,538,076 SNC-Lavalin Group, Inc. 27,600 1,159,695 * Sonde Resources Corp. 17,187 13,517 #* Southern Pacific Resource Corp. 665,787 415,059 #* SouthGobi Resources, Ltd. 103,376 120,960 # Sprott Resource Corp. 180,492 491,629 # Sprott, Inc. 125,832 318,608 # Spyglass Resources Corp. 194,991 388,992 #* St Andrew Goldfields, Ltd. 98,808 27,008 Stantec, Inc. 57,965 3,444,599 Stella-Jones, Inc. 13,000 355,843 #* Stornoway Diamond Corp. 8,283 7,309 Strad Energy Services, Ltd. 1,000 3,491 # Student Transportation, Inc. 60,512 380,721 # Sun Life Financial, Inc.(2566124) 341,061 11,488,095 Sun Life Financial, Inc.(866796105) 7,006 235,822 Suncor Energy, Inc.(867224107) 205,980 7,487,373 # Suncor Energy, Inc.(B3NB1P2) 654,429 23,782,011 * SunOpta, Inc.(8676EP108) 22,045 237,425 * SunOpta, Inc.(2817510) 73,009 785,653 # Superior Plus Corp. 144,438 1,540,450 # Surge Energy, Inc. 194,597 1,298,993 #* TAG Oil, Ltd. 54,089 219,956 Talisman Energy, Inc.(87425E103) 322,068 4,019,409 Talisman Energy, Inc.(2068299) 732,142 9,128,515 * Taseko Mines, Ltd. 360,519 885,176 Teck Resources, Ltd. Class A 1,294 37,232 Teck Resources, Ltd. Class B(878742204) 32,619 872,232 # Teck Resources, Ltd. Class B(2879327) 279,087 7,468,016 # TELUS Corp. 89,740 3,134,638 #* Tembec, Inc. 111,910 286,577 * Teranga Gold Corp.(B4L8QT1) 41,624 24,186 * Teranga Gold Corp.(B5TDK82) 7,097 4,016 * Tethys Petroleum, Ltd. 35,628 22,553 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- CANADA -- (Continued) * Theratechnologies, Inc. 39,200 $ 7,895 #* Thompson Creek Metals Co., Inc. 365,838 1,178,934 # Thomson Reuters Corp. 168,078 6,315,922 Tim Hortons, Inc. 31,600 1,886,332 Timminco Ltd. 17,306 80 #* Timmins Gold Corp. 183,699 294,228 TMX Group, Ltd. 5,449 248,501 # TORC Oil & Gas, Ltd. 28,241 270,589 Toromont Industries, Ltd. 59,130 1,310,030 Toronto-Dominion Bank (The)(891160509) 5,997 550,045 # Toronto-Dominion Bank (The)(2897222) 350,772 32,175,547 Torstar Corp. Class B 87,700 471,031 Total Energy Services, Inc. 44,198 782,521 * Tourmaline Oil Corp. 111,048 4,306,019 TransAlta Corp.(89346D107) 42,136 567,572 # TransAlta Corp.(2901628) 316,528 4,259,232 * Transat AT, Inc. Class B 2,900 35,796 TransCanada Corp. 257,270 11,594,607 Transcontinental, Inc. Class A 128,954 2,059,257 TransForce, Inc. 100,728 2,230,671 * TransGlobe Energy Corp.(893662106) 20,206 183,268 #* TransGlobe Energy Corp.(2470548) 90,117 815,906 # Trican Well Service, Ltd. 290,238 4,078,058 # Trilogy Energy Corp. 16,600 487,023 Trinidad Drilling, Ltd. 263,903 2,556,390 * TSO3, Inc. 5,400 3,729 #* Turquoise Hill Resources, Ltd.(900435108) 135,452 652,879 #* Turquoise Hill Resources, Ltd.(B7WJ1F5) 261,318 1,260,662 * TVA Group, Inc. Class B 4,447 34,974 # Twin Butte Energy, Ltd. 492,763 1,049,186 Uni-Select, Inc. 18,664 433,193 #* US Silver & Gold, Inc. 9,300 4,906 * Valeant Pharmaceuticals International, Inc. 37,311 3,941,693 Valener, Inc. 29,562 439,751 # Veresen, Inc. 218,959 2,709,031 #* Veris Gold Corp. 14,523 7,800 # Vermilion Energy, Inc.(B607XS1) 15,861 871,811 * Vermilion Energy, Inc.(923725105) 892 49,105 Vicwest, Inc. 8,008 96,389 * Vitran Corp., Inc. 2,400 12,764 # Wajax Corp. 26,810 958,336 WaterFurnace Renewable Energy, Inc. 1,587 34,993 * Wesdome Gold Mines, Ltd. 85,051 53,837 West Fraser Timber Co., Ltd. 47,564 4,359,748 Western Energy Services Corp. 5,300 40,005 # Western Forest Products, Inc. 166,225 237,544 Westjet Airlines, Ltd. 6,100 159,543 #* Westport Innovations, Inc. 14,101 330,261 Westshore Terminals Investment Corp. 10,952 360,602 Whistler Blackcomb Holdings, Inc. 8,860 123,215 # Whitecap Resources, Inc. 280,691 3,260,126 # Wi-Lan, Inc. 224,861 707,375 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ------------ CANADA -- (Continued) Winpak, Ltd. 28,442 $ 623,588 Wireless Matrix Corp. 29,700 855 * Xtreme Drilling and Coil Services Corp. 17,126 57,653 Yamana Gold, Inc.(98462Y100) 139,131 1,381,571 Yamana Gold, Inc.(2219279) 565,316 5,606,260 # Zargon Oil & Gas, Ltd. 51,615 381,673 ZCL Composites, Inc. 10,000 66,465 ------------ TOTAL CANADA 825,601,623 ------------ CHINA -- (0.0%) * China Resources and Transportation Group, Ltd. 5,000,000 289,697 #* Hanfeng Evergreen, Inc. 42,625 40,881 * Superb Summit International Group, Ltd. 6,976,000 305,902 ------------ TOTAL CHINA 636,480 ------------ COLOMBIA -- (0.0%) * Platino Energy Corp. 9,692 5,577 ------------ DENMARK -- (1.1%) ALK-Abello A.S. 12,823 1,218,286 * Alm Brand A.S. 179,798 703,767 Ambu A.S. Class B 5,038 226,760 AP Moeller - Maersk A.S. Class A 284 2,564,482 AP Moeller - Maersk A.S. Class B 702 6,791,828 * Auriga Industries Class B 29,512 1,158,156 * Bang & Olufsen A.S. 65,767 635,226 * Bavarian Nordic A.S. 47,986 583,503 * BoConcept Holding A.S. Class B 450 7,629 Brodrene Hartmann A.S. 2,300 58,014 Carlsberg A.S. Class B 60,062 5,999,351 Chr Hansen Holding A.S. 87,210 3,231,430 Coloplast A.S. Class B 30,799 2,008,854 D/S Norden A.S. 54,068 2,378,121 * Danske Bank A.S. 397,178 9,280,379 Dfds A.S. 6,034 439,299 Djurslands Bank A.S. 1,040 33,409 DSV A.S. 254,963 7,459,239 #* East Asiatic Co., Ltd. A.S. 21,026 359,339 # FLSmidth & Co. A.S. 78,478 3,916,786 Fluegger A.S. Class B 350 23,577 * Genmab A.S. 52,417 2,277,378 GN Store Nord A.S. 283,334 6,463,642 Gronlandsbanken AB 290 35,858 H Lundbeck A.S. 80,970 1,738,550 * H+H International A.S. Class B 5,798 32,726 Harboes Bryggeri A.S. Class B 2,462 34,382 IC Companys A.S. 12,644 342,551 Jeudan A.S. 1,880 198,247 * Jyske Bank A.S. 130,158 7,359,105 NKT Holding A.S. 51,023 2,476,124 Nordjyske Bank A.S. 3,195 64,510 Norresundby Bank A.S. 880 34,369 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ------------ DENMARK -- (Continued) # Novo Nordisk A.S. Class B 6,635 $ 1,105,076 Novo Nordisk A.S. Sponsored ADR 25,483 4,247,252 Novozymes A.S. Class B 72,118 2,824,536 # Pandora A.S. 109,149 5,202,838 * Parken Sport & Entertainment A.S. 5,510 78,454 PER Aarsleff A.S. Class B 2,722 338,961 # Ringkjoebing Landbobank A.S. 4,012 807,542 Rockwool International A.S. Class B 13,059 2,054,019 Royal UNIBREW A.S. 17,900 2,297,936 Schouw & Co. 28,714 1,070,875 # SimCorp A.S. 38,708 1,267,232 Solar A.S. Class B 7,170 408,203 * Spar Nord Bank A.S. 91,578 818,118 * Sydbank A.S. 139,930 4,137,683 TDC A.S. 609,262 5,503,530 Tivoli A.S. 90 47,666 * TK Development A.S. 116,132 144,775 * Topdanmark A.S. 164,736 4,483,759 * TopoTarget A.S. 133,513 62,468 * Topsil Semiconductor Matls 345,651 53,458 * Torm A.S. 17,487 5,432 Tryg A.S. 31,327 2,860,713 United International Enterprises 2,531 484,884 * Vestas Wind Systems A.S. 316,831 8,490,070 * Vestjysk Bank A.S. 23,224 53,009 * William Demant Holding A.S. 12,085 1,196,741 #* Zealand Pharma A.S. 4,177 46,991 ------------ TOTAL DENMARK 120,227,098 ------------ FINLAND -- (1.5%) Afarak Group Oyj 207,434 98,633 Ahlstrom Oyj 21,278 264,118 Aktia Bank Oyj 1,669 17,302 Alma Media Oyj 23,225 99,227 Amer Sports Oyj 179,770 3,688,400 Apetit Oyj 1,800 46,453 Aspo Oyj 8,353 60,936 Atria P.L.C. 20,310 224,701 Bank of Aland P.L.C. Class B 1,250 13,900 BasWare Oyj 4,560 132,549 * Biotie Therapies Oyj 226,186 107,187 # Cargotec Oyj 73,317 2,677,213 * Caverion Corp. 148,687 1,162,324 Citycon Oyj 419,311 1,494,776 * Comptel Oyj 51,194 32,703 Cramo Oyj 25,439 508,615 Digia P.L.C. 10,944 59,245 * Efore Oyj 7,109 6,930 # Elektrobit Corp. 432,247 828,853 # Elisa Oyj 118,569 2,970,598 Etteplan Oyj 7,036 29,672 F-Secure Oyj 60,115 155,372 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- FINLAND -- (Continued) Finnair Oyj 116,996 $ 446,571 * Finnlines Oyj 17,325 156,897 Fiskars Oyj Abp 31,608 809,189 Fortum Oyj 488,298 10,892,437 HKScan Oyj Class A 30,767 140,804 Huhtamaki Oyj 131,507 3,161,096 Ilkka-Yhtyma Oyj 29,672 123,118 Kemira Oyj 189,385 3,040,782 Kesko Oyj Class A 2,643 90,989 Kesko Oyj Class B 129,832 4,314,320 Kone Oyj Class B 35,998 3,173,662 Konecranes Oyj 57,914 1,951,119 Lassila & Tikanoja Oyj 39,643 831,257 Lemminkainen Oyj 20,150 404,551 Metsa Board Oyj 361,855 1,404,115 # Metso Oyj 146,329 5,759,527 Metso Oyj Sponsored ADR 10,246 403,641 * Munksjo Oyj 5,320 33,980 Neste Oil Oyj 238,059 4,720,316 #* Nokia Oyj 3,651,928 27,757,495 * Nokia Oyj Sponsored ADR 159,500 1,216,985 Nokian Renkaat Oyj 95,237 4,816,725 Okmetic Oyj 21,251 154,726 Olvi Oyj Class A 7,926 285,659 Oriola-KD Oyj Class A 1,000 3,261 Oriola-KD Oyj Class B 158,288 513,330 # Orion Oyj Class A 21,062 563,927 Orion Oyj Class B 55,604 1,494,426 #* Outokumpu Oyj 1,400,954 778,017 # Outotec Oyj 114,539 1,132,686 PKC Group Oyj 24,750 807,199 Pohjola Bank P.L.C. Class A 254,207 4,629,287 Ponsse Oy 49,960 606,589 * Poyry Oyj 24,775 131,222 Raisio P.L.C. Class V 222,026 1,291,932 Ramirent Oyj 106,727 1,282,460 Rapala VMC Oyj 14,912 102,278 # Rautaruukki Oyj 177,447 1,534,789 Saga Furs Oyj 3,026 180,865 Sampo Class A 299,957 14,188,168 # Sanoma Oyj 131,507 1,140,987 Sievi Capital P.L.C. 17,754 25,575 Stockmann Oyj Abp(5462371) 8,998 150,166 # Stockmann Oyj Abp(5462393) 40,470 646,166 Stora Enso Oyj Class R 953,298 8,852,200 Stora Enso Oyj Sponsored ADR 109,100 1,012,448 * Talvivaara Mining Co. P.L.C. 676,382 67,224 # Technopolis Oyj 101,203 686,813 Teleste Oyj 6,970 39,815 Tieto Oyj 87,027 1,911,958 Tikkurila Oyj 40,408 1,047,636 UPM-Kymmene Oyj 926,636 14,712,421 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ------------ FINLAND -- (Continued) UPM-Kymmene Oyj Sponsored ADR 78,154 $ 1,242,649 # Uponor Oyj 69,886 1,380,384 Vacon P.L.C. 3,678 273,353 Vaisala Oyj Class A 5,878 143,647 Wartsila Oyj Abp 88,040 3,906,464 YIT Oyj 161,272 2,091,884 ------------ TOTAL FINLAND 159,341,894 ------------ FRANCE -- (7.1%) Accor SA 89,727 4,010,431 Aeroports de Paris 17,033 1,819,364 #* Air France-KLM 280,775 2,928,250 Air Liquide SA 25,085 3,409,366 Akka Technologies SA 3,689 110,585 # Albioma 29,743 726,977 #* Alcatel-Lucent 2,216,400 8,491,151 * Alcatel-Lucent Sponsored ADR 1,716,276 6,573,337 Alstom SA 91,538 3,397,969 Altamir 26,476 361,040 Alten SA 32,869 1,486,216 Altran Technologies SA 195,970 1,736,768 April 24,454 519,906 #* Archos 27,729 134,810 Arkema SA 74,677 8,448,609 Assystem 21,508 585,478 * Atari SA 9,569 -- AtoS 54,554 4,650,204 Aubay 3,818 35,645 * Audika Groupe 1,627 21,870 Aurea SA 515 2,970 AXA SA 554,750 13,821,836 # AXA SA Sponsored ADR 468,270 11,711,433 Axway Software SA 4,011 120,406 #* Beneteau SA 50,968 933,312 #* Bigben Interactive 3,126 31,310 BioMerieux 11,060 1,110,116 BNP Paribas SA 568,069 41,908,229 Boiron SA 9,468 640,590 Bollore SA(4572709) 6,763 3,687,993 * Bollore SA(BDGTH22) 36 19,747 Bonduelle SCA 26,746 667,374 Bongrain SA 8,617 630,219 # Bourbon SA 89,802 2,559,346 * Boursorama 38,531 386,641 Bouygues SA 209,629 8,179,056 #* Bull 116,750 515,531 Bureau Veritas SA 37,980 1,145,697 Burelle SA 15 11,916 Cap Gemini SA 215,493 14,131,594 Carrefour SA 225,126 8,217,672 Casino Guichard Perrachon SA 54,355 6,109,765 * Cegedim SA 3,117 82,350 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- FRANCE -- (Continued) Cegid Group 7,848 $ 229,129 * CGG 80,827 1,776,570 * CGG Sponsored ADR 123,954 2,720,790 #* Chargeurs SA 22,786 168,713 Christian Dior SA 12,116 2,298,849 Cie de St-Gobain 446,784 23,451,715 Cie Generale des Etablissements Michelin 158,414 16,506,407 Ciments Francais SA 9,248 662,350 * Club Mediterranee SA 40,276 950,245 CNP Assurances 190,368 3,353,540 * Credit Agricole SA 1,083,987 13,033,363 Danone SA 49,719 3,682,396 # Danone SA Sponsored ADR 35,600 530,084 Dassault Systemes SA 7,830 951,232 # Dassault Systemes SA ADR 5,637 686,587 * Derichebourg SA 167,046 583,787 Devoteam SA 2,950 52,466 Edenred 146,851 4,985,240 Eiffage SA 57,158 3,387,367 Electricite de France SA 118,785 4,157,225 Electricite de Strasbourg 606 83,441 # Eramet 7,656 727,022 Essilor International SA 41,528 4,450,362 Esso SA Francaise 3,968 255,378 Etablissements Maurel et Prom 147,275 2,371,104 Euler Hermes SA 22,093 2,916,817 * Euro Disney SCA 19,225 125,435 Eurofins Scientific 4,879 1,335,661 European Aeronautic Defence and Space Co. NV 96,537 6,615,152 Eutelsat Communications SA 44,571 1,409,686 Exel Industries Class A 1,907 103,135 Faiveley Transport SA 8,242 643,245 #* Faurecia 88,073 2,566,786 Fimalac 9,228 572,854 Fleury Michon SA 761 47,852 * GameLoft SE 26,377 279,835 Gaumont SA 768 37,437 GDF Suez 804,690 19,943,245 GDF Suez Sponsored ADR 668 16,713 # GEA 98 10,735 * GECI International 20,581 -- GL Events 15,834 342,013 # Groupe Crit 2,059 87,435 Groupe Eurotunnel SA 760,080 7,358,251 Groupe Flo 10,366 45,611 * Groupe Fnac 6,439 179,948 Groupe Open 2,036 19,357 * Groupe Partouche SA 3,254 3,664 Groupe Steria SCA 61,445 1,135,345 Guerbet 1,124 152,628 * Haulotte Group SA 24,348 296,757 Havas SA 419,619 3,489,305 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- FRANCE -- (Continued) * Hi-Media SA 62,662 $ 159,827 Iliad SA 4,477 1,022,514 Imerys SA 46,029 3,692,432 # Ingenico 45,788 3,439,527 Interparfums SA 7,624 300,250 Ipsen SA 21,832 956,295 IPSOS 60,891 2,563,156 Jacquet Metal Service 20,035 336,625 JCDecaux SA 70,824 2,838,639 Kering 51,515 11,674,876 Korian 8,524 266,267 L'Oreal SA 19,826 3,385,224 L.D.C. SA 178 28,662 Lafarge SA 179,598 12,391,433 # Lafarge SA Sponsored ADR 82,410 1,424,045 Lagardere SCA 186,472 6,774,388 # Laurent-Perrier 2,478 231,474 Lectra 34,613 328,148 Legrand SA 47,639 2,699,969 LISI 5,795 894,409 LVMH Moet Hennessy Louis Vuitton SA 39,467 7,577,481 # Maisons France Confort 3,179 117,226 # Manitou BF SA 17,121 322,488 Manutan International 1,789 109,218 Medica SA 63,241 1,625,104 Mersen 24,275 887,979 Metropole Television SA 64,959 1,494,280 Montupet 24,322 913,656 * Mr Bricolage 8,989 123,293 Natixis 1,014,342 5,454,724 # Naturex 7,958 628,195 # Neopost SA 44,238 3,340,011 # Nexans SA 52,267 2,323,845 Nexity SA 50,067 1,960,349 * NicOx SA 13,614 45,663 Norbert Dentressangle SA 5,918 671,259 * NRJ Group 63,138 608,440 Orange 878,608 12,077,413 # Orange SA ADR 212,700 2,920,371 * Orco Property Group 3,090 9,314 Orpea 45,347 2,445,865 #* Osiatis SA 9,417 132,079 * Parrot SA 8,588 239,335 Pernod-Ricard SA 81,148 9,746,565 #* Peugeot SA 418,866 5,510,172 #* Pierre & Vacances SA 7,208 193,577 Plastic Omnium SA 91,242 2,606,696 Publicis Groupe SA 35,420 2,945,506 # Publicis Groupe SA ADR 100,092 2,090,922 Rallye SA 45,239 1,925,189 #* Recylex SA 32,570 146,607 Remy Cointreau SA 20,829 2,051,688 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- FRANCE -- (Continued) Renault SA 213,555 $18,632,722 Rexel SA 259,187 6,490,770 Robertet SA 752 183,670 Rubis SCA 34,395 2,147,196 Sa des Ciments Vicat 13,951 1,042,411 Safran SA 83,745 5,339,412 Saft Groupe SA 46,404 1,471,473 Samse SA 546 54,076 Sanofi 201,598 21,495,009 Sanofi ADR 562,231 30,068,114 Sartorius Stedim Biotech 4,701 706,845 Schneider Electric SA 182,493 15,356,360 SCOR SE 283,557 10,008,392 SEB SA 26,710 2,396,589 Seche Environnement SA 3,292 131,885 #* Sequana SA 20,074 166,241 SES SA 57,640 1,676,509 Soc Mar Tunnel Prado Car 7,833 307,632 Societe BIC SA 24,301 3,034,583 Societe d'Edition de Canal + 82,156 677,416 Societe des Bains de Mer et du Cercle des Etrangers a Monaco 1,430 78,118 Societe Generale SA 443,771 25,068,404 # Societe Internationale de Plantations d'Heveas SA 2,402 180,088 Societe Television Francaise 1 209,639 4,039,306 Sodexo() 8,908 866,957 Sodexo(7062713) 8,908 864,308 Sodexo Sponsored ADR 3,800 369,740 #* SOITEC 266,519 602,407 #* Solocal Group 192,889 449,350 Somfy SA 1,174 292,605 Sopra Group SA 4,446 388,622 #* Spir Communication 2,571 52,487 #* Ste Industrielle d'Aviation Latecoere SA 9,152 164,450 Stef 3,632 244,154 # STMicroelectronics NV(861012102) 359,279 2,755,670 STMicroelectronics NV(5962332) 984,214 7,570,582 * Store Electronic 16 288 Suez Environnement Co. 194,394 3,389,703 Sword Group 9,306 196,102 Synergie SA 4,163 75,126 * Technicolor SA 64,884 350,109 * Technicolor SA Sponsored ADR 4,360 23,697 Technip SA 13,148 1,377,103 Technip SA ADR 104,395 2,747,676 Teleperformance 98,565 5,217,532 Tessi SA 1,767 241,412 Thales SA 77,339 4,736,690 #* Theolia SA 100,126 187,605 Thermador Groupe 134 11,984 Total Gabon 156 100,101 Total SA 351,482 21,564,452 # Total SA Sponsored ADR 595,142 36,410,788 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ------------ FRANCE -- (Continued) Touax SA 718 $ 19,227 #* Transgene SA 15,279 199,783 * Trigano SA 14,750 313,061 * UBISOFT Entertainment 166,554 2,136,492 Union Financiere de France BQE SA 1,141 27,308 Valeo SA 92,629 9,163,716 Vallourec SA 176,253 10,490,866 * Valneva SE 13,249 86,144 Veolia Environnement SA 195,950 3,361,656 Veolia Environnement SA ADR 47,101 810,608 Vetoquinol SA 65 2,587 Viel et Co. 48,096 158,707 # Vilmorin & Cie 8,353 985,475 Vinci SA 192,143 12,294,496 Virbac SA 2,717 546,526 Vivendi SA 661,308 16,744,134 * VM Materiaux SA 811 30,897 Vranken-Pommery Monopole SA 3,897 126,097 Zodiac Aerospace 42,703 6,832,776 ------------ TOTAL FRANCE 742,851,490 ------------ GERMANY -- (5.9%) * Aareal Bank AG 95,461 3,661,226 Adidas AG 74,088 8,441,995 Adler Modemaerkte AG 9,607 123,885 * ADVA Optical Networking SE 82,206 438,816 #* Air Berlin P.L.C. 74,923 172,590 #* Aixtron SE NA 114,799 1,647,630 # Allgeier SE 1,017 21,410 Allianz SE 171,092 28,726,742 # Allianz SE ADR 984,886 16,575,631 Amadeus Fire AG 2,946 193,893 # Analytik Jena AG 4,322 86,638 * AS Creation Tapeten 906 47,397 Aurubis AG 53,974 3,400,629 # Axel Springer AG 61,758 3,726,482 Balda AG 11,416 70,834 BASF SE 60,260 6,255,861 # BASF SE Sponsored ADR 58,000 6,026,200 Bauer AG 19,819 486,073 Bayer AG 79,483 9,860,043 Bayer AG Sponsored ADR 10,700 1,334,290 Bayerische Motoren Werke AG 142,292 16,104,384 BayWa AG 23,332 1,188,230 Bechtle AG 22,025 1,412,424 Beiersdorf AG 21,920 2,090,146 Bertrandt AG 3,592 469,785 Bijou Brigitte AG 3,005 316,658 # Bilfinger SE 73,848 8,194,936 Biotest AG 4,237 350,345 Borussia Dortmund GmbH & Co. KGaA 106,173 548,318 Brenntag AG 13,932 2,357,423 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- GERMANY -- (Continued) CANCOM SE 17,246 $ 661,350 Carl Zeiss Meditec AG 24,728 781,101 CAT Oil AG 26,289 641,489 # Celesio AG 168,158 5,228,016 CENIT AG 11,286 158,342 CENTROTEC Sustainable AG 15,862 394,370 Cewe Stiftung & Co. KGAA 8,432 471,479 * Colonia Real Estate AG 2,454 16,056 Comdirect Bank AG 58,460 664,419 * Commerzbank AG 1,065,890 13,632,341 # CompuGroup Medical AG 11,148 290,389 * Constantin Medien AG 53,339 119,305 Continental AG 78,125 14,286,465 CropEnergies AG 38,653 361,613 CTS Eventim AG 11,464 558,898 DAB Bank AG 13,385 67,373 Daimler AG 469,210 38,416,462 Data Modul AG 2,305 50,128 DEAG Deutsche Entertainment 1,086 6,047 # Delticom AG 3,099 163,433 * Deufol SE 10,845 19,885 Deutsche Bank AG(5750355) 338,130 16,341,519 Deutsche Bank AG(D18190898) 216,919 10,481,526 Deutsche Boerse AG 57,987 4,362,191 * Deutsche Lufthansa AG 332,714 6,432,368 Deutsche Post AG 639,180 21,585,987 Deutsche Telekom AG 716,538 11,260,184 # Deutsche Telekom AG Sponsored ADR 528,190 8,340,120 # Deutsche Wohnen AG 198,701 3,736,936 * Deutz AG 175,567 1,665,234 #* Dialog Semiconductor P.L.C. 70,568 1,355,873 DIC Asset AG 7,350 81,161 # DMG MORI SEIKI AG 106,489 3,500,452 Dr Hoenle AG 7,908 131,301 Draegerwerk AG & Co. KGaA 3,042 301,066 Drillisch AG 54,565 1,406,176 Duerr AG 18,254 1,597,566 DVB Bank SE 874 28,800 E.ON SE 844,759 15,398,681 E.ON SE Sponsored ADR 218,470 3,987,077 Eckert & Ziegler AG 7,086 288,240 Elmos Semiconductor AG 16,695 219,304 ElringKlinger AG 44,660 1,898,908 # Euromicron AG 12,437 294,770 * Evotec AG 154,547 904,086 Fielmann AG 5,612 627,602 * First Sensor AG 8,351 84,398 #* Francotyp-Postalia Holding AG Class A 90 517 Fraport AG Frankfurt Airport Services Worldwide 55,657 4,305,801 Freenet AG 186,453 4,843,076 Fresenius Medical Care AG & Co. KGaA 151,766 10,029,640 Fresenius Medical Care AG & Co. KGaA ADR 53,000 1,744,760 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- GERMANY -- (Continued) Fresenius SE & Co. KGaA 99,442 $12,908,908 Fuchs Petrolub AG 3,792 257,790 * GAGFAH SA 57,918 820,977 GEA Group AG 160,694 6,984,207 Gerresheimer AG 40,762 2,696,356 # Gerry Weber International AG 11,433 473,762 Gesco AG 5,066 515,259 GFK SE 18,690 1,092,925 GFT Technologies AG 20,117 165,055 * Gigaset AG 49,566 68,178 Grammer AG 22,198 1,032,864 Grenkeleasing AG 8,480 838,914 * GSW Immobilien AG 45,339 2,108,396 * H&R AG 15,018 181,790 Hamburger Hafen und Logistik AG 27,400 687,598 Hannover Rueck SE 90,591 7,250,124 Hawesko Holding AG 1,492 76,941 HeidelbergCement AG 154,478 12,163,542 #* Heidelberger Druckmaschinen AG 472,729 1,263,779 Henkel AG & Co. KGaA 22,389 2,064,897 Highlight Communications AG 31,488 161,609 Hochtief AG 47,492 4,295,409 Homag Group AG 933 22,522 Hugo Boss AG 11,430 1,488,948 Indus Holding AG 37,536 1,348,823 Infineon Technologies AG 398,549 3,855,695 Infineon Technologies AG ADR 511,176 4,907,290 * Intershop Communications AG 3,523 6,971 Isra Vision AG 5,417 259,764 Jenoptik AG 86,977 1,519,472 # K+S AG 113,007 2,871,463 * Kloeckner & Co. SE 186,988 2,637,550 Koenig & Bauer AG 3,131 59,748 Kontron AG 92,955 635,805 Krones AG 22,008 1,926,296 # KSB AG 214 140,207 # KUKA AG 29,056 1,322,391 KWS Saat AG 2,468 881,343 Lanxess AG 66,389 4,662,618 Leifheit AG 3,113 126,989 Leoni AG 62,800 4,250,549 Linde AG 80,255 15,234,443 LPKF Laser & Electronics AG 13,346 278,019 MAN SE 32,663 3,934,884 * Manz AG 4,746 342,573 * MasterFlex SE 338 3,093 * Mediclin AG 13,261 77,827 #* Medigene AG 7,342 38,063 Merck KGaA 35,512 5,907,440 Metro AG 107,368 5,034,054 MLP AG 83,654 521,968 # Mobotix AG 2,823 60,574 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- GERMANY -- (Continued) * Morphosys AG 19,998 $ 1,546,896 MTU Aero Engines AG 28,360 2,828,380 Muehlbauer Holding AG & Co. KGaA 1,858 49,234 Muenchener Rueckversicherungs AG 106,008 22,116,689 MVV Energie AG 12,918 427,366 Nemetschek AG 2,886 190,478 Nexus AG 2,391 33,441 * Nordex SE 103,557 1,815,006 Norma Group SE 18,341 917,238 OHB AG 13,143 312,812 #* Osram Licht AG 45,901 2,377,336 * Patrizia Immobilien AG 61,559 576,585 Pfeiffer Vacuum Technology AG 8,253 960,992 PNE Wind AG 110,191 436,111 Progress-Werk Oberkirch AG 1,999 113,757 PSI AG Gesellschaft Fuer Produkte und Systeme der Informationstechnologie 1,221 20,323 # Puma SE 4,176 1,242,341 PVA TePla AG 8,269 32,975 * QIAGEN NV 351,324 8,063,215 QSC AG 162,193 1,008,853 # R Stahl AG 3,704 179,298 Rational AG 1,048 320,919 Rheinmetall AG 84,143 5,202,017 Rhoen Klinikum AG 181,202 5,063,965 RIB Software AG 5,099 45,434 RWE AG 468,335 17,254,434 * SAF-Holland SA 92,510 1,315,113 Salzgitter AG 73,528 3,235,920 SAP AG 20,475 1,602,212 # SAP AG Sponsored ADR 54,592 4,277,283 Schaltbau Holding AG 2,895 160,150 # SGL Carbon SE 52,919 2,063,684 SHW AG 1,490 91,490 # Siemens AG Sponsored ADR 200,444 25,658,836 #* Singulus Technologies AG 79,247 193,913 Sixt SE 26,458 797,281 SKW Stahl-Metallurgie Holding AG 10,141 164,966 #* Sky Deutschland AG 392,287 3,865,936 # SMA Solar Technology AG 10,617 432,787 # SMT Scharf AG 4,136 133,967 Software AG 64,689 2,395,268 #* Solarworld AG 132,271 141,066 Stada Arzneimittel AG 102,970 5,918,895 STINAG Stuttgart Invest AG 818 17,781 * Stroeer Media AG 25,910 447,640 Suedzucker AG 87,688 2,820,753 * Suss Microtec AG 38,692 410,309 Symrise AG 78,949 3,342,645 # TAG Immobilien AG 180,562 2,181,089 Takkt AG 33,086 656,984 Technotrans 4,636 49,194 Telegate AG 6,801 59,107 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ------------ GERMANY -- (Continued) * ThyssenKrupp AG 244,148 $ 6,229,031 * Tipp24 SE 8,961 582,813 #* Tom Tailor Holding AG 33,364 760,447 Tomorrow Focus AG 7,335 44,058 #* TUI AG 277,181 3,672,169 United Internet AG 47,598 1,877,559 Volkswagen AG 17,173 4,199,586 Vossloh AG 8,010 826,241 VTG AG 19,082 397,980 # Wacker Chemie AG 25,261 2,372,209 Wacker Neuson SE 35,860 550,839 Washtec AG 51,952 741,241 Wincor Nixdorf AG 18,671 1,234,494 Wirecard AG 1,690 61,488 XING AG 2,319 233,858 #* zooplus AG 1,104 92,029 ------------ TOTAL GERMANY 620,468,263 ------------ GREECE -- (0.3%) * Aegean Airlines SA 11,435 98,863 * Alapis Holding Industrial and Commercial SA of Pharmaceutical Chemical Products 69,510 3,869 * Alpha Bank AE 664,535 595,245 * Astir Palace Hotel SA 16,370 88,736 Athens Water Supply & Sewage Co. SA (The) 23,542 265,649 * Autohellas SA 2,219 25,870 * Bank of Cyprus P.L.C. 1,186,156 -- Bank of Greece 20,979 456,179 * Diagnostic & Therapeutic Center of Athens Hygeia SA 64,268 40,284 * Ellaktor SA 153,337 666,380 * Elval - Hellenic Aluminium Industry SA 9,817 26,427 * Euromedica SA 4,548 2,330 * Folli Follie SA 30,765 913,782 * Fourlis Holdings SA 42,377 200,786 * Frigoglass SA 11,866 94,924 * GEK Terna Holding Real Estate Construction SA 43,566 185,477 * Halcor SA 55,380 64,868 Hellenic Exchanges SA Holding Clearing Settlement and Registry 130,999 1,376,938 Hellenic Petroleum SA 166,427 2,164,064 * Hellenic Telecommunications Organization SA 309,016 3,889,094 #* Hellenic Telecommunications Organization SA Sponsored ADR 103,600 649,054 * Iaso SA 18,699 32,709 * Intracom Holdings SA 104,325 80,816 Intralot SA-Integrated Lottery Systems & Services 142,895 377,205 * J&P-Avax SA 138,549 328,603 * JUMBO SA 110,250 1,479,291 * Marfin Investment Group Holdings SA 1,013,154 645,952 Metka SA 31,280 587,293 Motor Oil Hellas Corinth Refineries SA 88,770 1,055,323 * Mytilineos Holdings SA 139,596 1,127,223 * National Bank of Greece SA 371,501 2,110,064 # National Bank of Greece SA ADR 20,800 121,680 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- GREECE -- (Continued) OPAP SA 156,100 $ 1,938,399 * Piraeus Bank SA 127,214 265,556 Piraeus Port Authority 5,029 122,181 * Proton Bank SA 33,481 -- Public Power Corp. SA 90,520 1,345,280 * Sarantis SA 10,732 85,329 * Sidenor Steel Products Manufacturing Co. SA 28,031 64,898 * T Bank SA 46,506 -- Terna Energy SA 47,131 233,048 Thessaloniki Port Authority SA 1,762 59,758 Thessaloniki Water Supply & Sewage Co. SA 522 4,187 * Titan Cement Co. SA 71,576 1,946,917 * TT Hellenic Postbank SA 225,165 -- * Viohalco Hellenic Copper and Aluminum Industry SA 176,559 1,747,702 ----------- TOTAL GREECE 27,568,233 ----------- HONG KONG -- (2.4%) AAC Technologies Holdings, Inc. 250,000 1,098,439 Aeon Stores Hong Kong Co., Ltd. 32,000 48,307 AIA Group, Ltd. 2,081,600 10,570,011 Alco Holdings, Ltd. 356,000 75,791 Allied Group, Ltd. 72,000 269,315 Allied Properties HK, Ltd. 2,868,393 473,564 * Anxian Yuan China Holdings, Ltd. 1,560,000 39,213 * Apac Resources, Ltd. 4,320,000 84,161 APT Satellite Holdings, Ltd. 465,000 505,115 Arts Optical International Hldgs 70,000 17,366 Asia Financial Holdings, Ltd. 270,000 113,480 Asia Satellite Telecommunications Holdings, Ltd. 148,000 574,426 Asia Standard International Group 544,745 123,554 # ASM Pacific Technology, Ltd. 98,900 954,510 Associated International Hotels, Ltd. 79,000 232,480 Aupu Group Holding Co., Ltd. 400,000 44,363 Bank of East Asia, Ltd. 1,088,546 4,717,461 * Birmingham International Holdings, Ltd. 1,534,000 -- BOC Hong Kong Holdings, Ltd. 1,522,000 4,950,943 Bonjour Holdings, Ltd. 1,036,000 224,193 Bossini International Hldg 1,204,000 72,192 * Brightoil Petroleum Holdings, Ltd. 2,533,000 434,455 #* Brockman Mining, Ltd. 2,850,520 150,900 * Burwill Holdings, Ltd. 3,573,600 156,609 # Cafe de Coral Holdings, Ltd. 208,000 715,197 Cathay Pacific Airways, Ltd. 1,092,000 2,163,248 Champion Technology Holdings, Ltd. 1,992,397 41,427 * Chaoyue Group, Ltd. 650,000 31,843 Chen Hsong Holdings 360,000 113,700 Cheuk Nang Holdings, Ltd. 96,238 86,708 # Cheung Kong Holdings, Ltd. 831,000 12,999,177 Cheung Kong Infrastructure Holdings, Ltd. 236,045 1,642,573 Chevalier International Holdings, Ltd. 107,913 189,786 * China Billion Resources, Ltd. 5,752,080 -- * China Daye Non-Ferrous Metals Mining, Ltd. 1,934,000 50,646 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ---------- HONG KONG -- (Continued) China Electronics Corp. Holdings Co., Ltd. 584,000 $ 113,805 * China Energy Development Holdings, Ltd. 5,924,000 68,877 * China Environmental Investment Holdings, Ltd. 1,845,000 57,325 China Financial Services Holdings, Ltd. 304,000 25,490 * China Flavors & Fragrances Co., Ltd. 24,890 3,808 * China Infrastructure Investment, Ltd. 2,032,000 40,012 China Metal International Holdings, Inc. 540,000 151,704 * China Nuclear Industry 23 International Corp., Ltd. 274,000 39,550 * China Renji Medical Group, Ltd. 11,550,000 64,190 * China Solar Energy Holdings, Ltd. 1,033,500 23,995 China Ting Group Holdings, Ltd. 692,000 54,465 * China Tycoon Beverage Holdings, Ltd. 60,000 658 # Chong Hing Bank, Ltd. 257,000 1,157,743 Chow Sang Sang Holdings International, Ltd. 418,000 1,355,634 Chow Tai Fook Jewellery Group, Ltd. 355,800 590,000 Chu Kong Shipping Enterprise Group Co., Ltd. 774,000 215,482 Chuang's China Investments, Ltd. 798,000 52,450 Chuang's Consortium International, Ltd. 1,569,487 196,560 Chun Wo Development Holdings, Ltd. 348,000 22,202 CITIC Telecom International Holdings, Ltd. 1,981,000 615,678 CK Life Sciences International Holdings, Inc. 4,956,000 460,012 CLP Holdings, Ltd. 261,000 2,101,992 * COL Capital, Ltd. 64,000 19,570 * Cosmos Machinery Enterprises, Ltd. 106,600 7,294 * CP Lotus Corp. 1,420,000 43,963 # Cross-Harbour Holdings, Ltd. (The) 102,000 82,162 CSI Properties, Ltd. 5,784,200 201,194 * Culture Landmark Investment, Ltd. 103,000 10,425 * Culturecom Holdings, Ltd. 900,000 161,256 Dah Sing Banking Group, Ltd. 733,822 1,382,132 Dah Sing Financial Holdings, Ltd. 289,250 1,806,797 Dan Form Holdings Co., Ltd. 1,227,900 139,252 Dickson Concepts International, Ltd. 446,500 278,011 Dorsett Hospitality International, Ltd. 1,077,000 236,074 * DVN Holdings, Ltd. 966,000 79,729 Eagle Nice International Holdings, Ltd. 534,000 96,394 EcoGreen Fine Chemicals Group, Ltd. 304,000 66,765 * EganaGoldpfeil Holdings, Ltd 209,588 -- Emperor Capital Group, Ltd. 204,000 9,092 Emperor Entertainment Hotel, Ltd. 1,015,000 510,153 Emperor International Holdings 2,068,416 594,409 Emperor Watch & Jewellery, Ltd. 6,670,000 533,925 * Enviro Energy International Holdings, Ltd. 408,000 8,892 * EPI Holdings, Ltd. 6,758,000 200,189 # Esprit Holdings, Ltd. 3,462,913 6,385,040 * eSun Holdings, Ltd. 1,365,000 183,053 Fairwood, Ltd. 80,000 163,866 # Far East Consortium International, Ltd. 1,755,866 580,146 #* FIH Mobile, Ltd. 3,970,000 2,231,158 First Pacific Co., Ltd. 3,865,756 4,395,517 * Fountain SET Holdings, Ltd. 1,150,000 155,847 Fujikon Industrial Holdings, Ltd. 132,000 35,055 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- HONG KONG -- (Continued) * G-Resources Group, Ltd. 40,285,200 $ 1,203,957 * Galaxy Entertainment Group, Ltd. 415,000 3,097,926 #* Genting Hong Kong, Ltd. 678,000 307,620 Get Nice Holdings, Ltd. 6,384,000 292,057 # Giordano International, Ltd. 1,244,000 1,166,919 Glorious Sun Enterprises, Ltd. 796,000 181,742 Gold Peak Industries Holding, Ltd. 453,000 49,092 Golden Resources Development International, Ltd. 676,000 37,018 Guangnan Holdings, Ltd. 756,000 95,592 # Guotai Junan International Holdings, Ltd. 884,000 378,832 # Haitong International Securities Group, Ltd. 769,492 378,460 * Hang Fung Gold Technology, Ltd. 250,000 -- Hang Lung Group, Ltd. 704,000 3,715,091 Hang Lung Properties, Ltd. 1,936,000 6,375,492 Hang Seng Bank, Ltd. 136,700 2,283,774 * Hao Tian Development Group, Ltd. 440,000 19,560 Harbour Centre Development, Ltd. 158,000 289,857 # Henderson Land Development Co., Ltd. 1,273,906 7,529,855 HKR International, Ltd. 895,962 438,156 Hon Kwok Land Investment Co., Ltd. 234,000 90,160 Hong Kong & China Gas Co., Ltd. 642,970 1,498,657 # Hong Kong Aircraft Engineering Co., Ltd. 26,800 359,404 # Hong Kong Exchanges and Clearing, Ltd. 214,758 3,472,801 Hong Kong Television Network, Ltd. 406,000 132,997 # Hong Kong Television Network, Ltd. ADR 20,634 132,264 Hongkong & Shanghai Hotels (The) 867,924 1,365,855 Hongkong Chinese, Ltd. 1,625,143 360,874 Hop Hing Group Holdings, Ltd. 252,000 10,717 Hopewell Holdings, Ltd. 1,093,500 3,689,654 Hsin Chong Construction Group, Ltd. 778,000 106,291 Hung Hing Printing Group, Ltd. 528,524 76,333 Hutchison Telecommunications Hong Kong Holdings, Ltd. 2,540,000 1,124,421 Hutchison Whampoa, Ltd. 1,030,000 12,827,842 * Hybrid Kinetic Group, Ltd. 896,000 13,634 # Hysan Development Co., Ltd. 475,215 2,226,030 * Imagi International Holdings, Ltd. 11,808,000 141,564 #* Integrated Waste Solutions Group Holdings, Ltd. 746,000 130,860 IPE Group, Ltd. 1,225,000 88,455 * IRC, Ltd. 1,958,000 211,896 # IT, Ltd. 785,087 238,950 ITC Properties Group, Ltd. 228,400 86,632 * Jinhui Holdings, Ltd. 167,000 38,150 * JLF Investment Co., Ltd. 250,000 17,375 Johnson Electric Holdings, Ltd. 2,018,000 1,452,498 # K Wah International Holdings, Ltd. 2,353,506 1,290,627 Kam Hing International Holdings, Ltd. 74,000 6,024 Kantone Holdings, Ltd. 2,444,360 32,797 Kerry Properties, Ltd. 748,583 3,255,919 * King Stone Energy Group, Ltd. 1,196,000 53,729 Kingmaker Footwear Holdings, Ltd. 754,000 174,088 # Kingston Financial Group, Ltd. 3,751,000 425,579 * Ko Yo Chemical Group, Ltd. 5,180,000 69,487 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ---------- HONG KONG -- (Continued) Kowloon Development Co., Ltd. 723,000 $ 892,495 L'Occitane International SA 205,250 465,543 * Lai Sun Development 19,665,666 563,131 * Lai Sun Garment International, Ltd. 990,000 180,495 Lam Soon Hong Kong, Ltd. 12,000 8,438 Landsea Green Properties Co., Ltd. 124,000 13,422 Lee's Pharmaceutical Holdings, Ltd. 100,000 92,836 Lerado Group Holdings Co. 672,000 76,380 Li & Fung, Ltd. 1,845,250 2,594,461 Lifestyle International Holdings, Ltd. 407,000 886,945 * Lifestyle Properties Development, Ltd. 19,050 3,858 Lippo China Resources, Ltd. 5,036,000 152,505 Lippo, Ltd. 290,000 145,459 # Liu Chong Hing Investment 166,000 368,675 Luen Thai Holdings, Ltd. 336,000 123,515 Luk Fook Holdings International, Ltd. 688,000 2,447,270 Luks Group Vietnam Holdings Co., Ltd. 130,000 34,815 Lung Kee Bermuda Holdings 280,000 103,234 Magnificent Estates 4,256,000 206,061 Man Wah Holdings, Ltd. 530,400 911,400 Man Yue Technology Holdings, Ltd. 254,000 31,770 * Mei Ah Entertainment Group, Ltd. 3,200,000 45,762 * Melco Crown Entertainment, Ltd. ADR 2,488 82,502 Melco International Development, Ltd. 1,584,000 4,982,254 MGM China Holdings, Ltd. 284,400 984,294 # Midland Holdings, Ltd. 1,278,000 520,811 Ming Fai International Holdings, Ltd. 453,000 49,644 * Ming Fung Jewellery Group, Ltd. 3,484,000 111,391 Miramar Hotel & Investment 241,000 309,062 #* Mongolian Mining Corp. 1,770,000 292,287 MTR Corp., Ltd. 565,214 2,185,972 NagaCorp, Ltd. 184,000 169,914 Natural Beauty Bio-Technology, Ltd. 70,000 4,515 #* Neo-Neon Holdings, Ltd. 1,247,000 289,054 * Neptune Group, Ltd. 1,780,000 81,444 New Century Group Hong Kong, Ltd. 623,200 12,536 * New Smart Energy Group, Ltd. 4,042,500 69,397 # New World Development Co., Ltd. 4,348,031 6,026,292 Newocean Energy Holdings, Ltd. 1,424,000 870,750 * Next Media, Ltd. 1,192,000 130,696 * Norstar Founders Group, Ltd. 420,000 -- * North Asia Resources Holdings, Ltd. 615,000 12,139 NWS Holdings, Ltd. 1,381,941 2,165,168 * Orange Sky Golden Harvest Entertainment Holdings, Ltd. 2,130,000 103,072 # Orient Overseas International, Ltd. 426,000 2,200,340 # Oriental Watch Holdings 1,152,240 368,579 Pacific Andes International Holdings, Ltd. 2,950,274 133,044 Pacific Basin Shipping, Ltd. 3,080,000 2,204,070 Pacific Textile Holdings, Ltd. 583,000 798,652 Paliburg Holdings, Ltd. 728,790 234,063 * Pan Asia Environmental Protection Group, Ltd. 34,000 6,315 PCCW, Ltd. 3,889,000 1,761,069 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- HONG KONG -- (Continued) PCCW, Ltd. ADR 7,400 $ 33,818 #* Peace Mark Holdings, Ltd. 308,000 -- * Pearl Oriental Oil, Ltd. 2,842,627 97,652 Pegasus International Holdings, Ltd. 82,000 11,778 # Pico Far East Holdings, Ltd. 1,042,000 329,524 * Ping Shan Tea Group, Ltd. 2,039,800 59,977 Playmates Holdings, Ltd. 73,400 92,259 PNG Resources Holdings, Ltd. 4,512,000 74,991 Polytec Asset Holdings, Ltd. 3,035,000 387,800 Power Assets Holdings, Ltd. 329,500 2,740,878 Prada SpA 39,000 380,006 Public Financial Holdings, Ltd. 464,000 242,522 PYI Corp., Ltd. 5,416,552 131,348 Regal Hotels International Holdings, Ltd. 903,400 494,056 Richfield Group Holdings, Ltd. 2,392,000 63,824 * Rising Development Holdings, Ltd. 278,000 17,972 SA SA International Holdings, Ltd. 448,000 490,461 Samsonite International SA 909,000 2,478,845 #* Sandmartin International Holdings, Ltd. 270,000 16,677 Sands China, Ltd. 192,800 1,375,801 SCMP Group, Ltd. 10,000 2,515 SEA Holdings, Ltd. 246,000 139,621 # Shangri-La Asia, Ltd. 1,552,166 2,855,534 Shenyin Wanguo HK, Ltd. 470,000 167,157 * Shougang Concord Technology Holdings 1,600,000 98,028 Shun Tak Holdings, Ltd. 3,266,250 1,892,073 #* Silver base Group Holdings, Ltd. 304,000 50,518 Sing Tao News Corp., Ltd. 490,000 70,770 Singamas Container Holdings, Ltd. 2,498,000 579,780 * Sino Distillery Group, Ltd. 664,000 40,222 Sino Land Co., Ltd. 3,372,584 4,730,034 * Sino-Tech International Holdings, Ltd. 7,000,000 29,790 * Sinocop Resources Holdings, Ltd. 100,000 8,637 Sitoy Group Holdings, Ltd. 4,000 2,195 SJM Holdings, Ltd. 638,000 2,058,764 # SmarTone Telecommunications Holdings, Ltd. 445,303 586,493 SOCAM Development, Ltd. 432,488 514,308 * Solomon Systech International, Ltd. 2,156,000 98,708 Soundwill Holdings, Ltd. 36,000 64,547 * South China China, Ltd. 1,088,000 104,145 Stella International Holdings, Ltd. 203,500 502,295 Stelux Holdings International, Ltd. 637,600 217,132 * Success Universe Group, Ltd. 1,284,000 77,950 Sun Hing Vision Group Holdings, Ltd. 122,000 42,332 Sun Hung Kai & Co., Ltd. 1,175,787 661,911 Sun Hung Kai Properties, Ltd. 957,036 12,511,270 * Sun Innovation Holdings, Ltd. 660,000 11,299 * Sustainable Forest Holdings, Ltd. 681,250 15,556 Swire Properties, Ltd. 346,450 938,401 * Symphony Holdings, Ltd. 511,500 32,676 TAI Cheung Holdings 578,000 438,447 TAI Sang Land Developement, Ltd. 145,523 71,494 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ------------ HONG KONG -- (Continued) * Talent Property Group, Ltd. 1,245,000 $ 21,004 # Tan Chong International, Ltd. 372,000 147,377 Tao Heung Holdings, Ltd. 36,000 27,615 #* Taung Gold International, Ltd. 3,200,000 65,626 Techtronic Industries Co. 1,734,000 4,359,326 Television Broadcasts, Ltd. 171,000 998,666 Termbray Industries International 112,000 10,395 Texwinca Holdings, Ltd. 838,000 856,142 #* Titan Petrochemicals Group, Ltd. 3,200,000 1,032 * Tom Group, Ltd. 1,250,000 240,057 Tongda Group Holdings, Ltd. 4,240,000 240,659 * Town Health International Investments, Ltd. 384,835 101,297 Tradelink Electronic Commerce, Ltd. 818,000 202,491 Transport International Holdings, Ltd. 291,800 657,094 # Trinity, Ltd. 1,856,000 693,770 * TSC Group Holdings, Ltd. 1,018,000 345,415 Tse Sui Luen Jewellery International, Ltd. 60,000 29,003 Tysan Holdings, Ltd. 300,000 104,623 * U-RIGHT International Holdings, Ltd. 45,060 2,325 #* United Laboratories International Holdings, Ltd. (The) 1,011,500 426,663 * Universal Technologies Holdings, Ltd. 1,330,000 77,235 * Value Convergence Holdings, Ltd. 252,000 37,248 Value Partners Group, Ltd. 898,000 545,019 Varitronix International, Ltd. 491,000 436,509 Vedan International Holdings, Ltd. 1,192,000 70,870 Victory City International Holdings, Ltd. 1,604,326 225,342 Vitasoy International Holdings, Ltd. 448,000 577,698 VST Holdings, Ltd. 1,421,200 280,484 # VTech Holdings, Ltd. 105,900 1,512,216 Wai Kee Holdings, Ltd. 222,000 59,066 Wang On Group, Ltd. 7,460,000 136,659 Wharf Holdings, Ltd. 962,750 8,139,013 Wheelock & Co., Ltd. 1,012,000 5,177,599 Win Hanverky Holdings, Ltd. 598,000 68,593 Wing Hang Bank, Ltd. 304,894 4,324,063 # Wing On Co. International, Ltd. 123,137 354,127 Wing Tai Properties, Ltd. 374,000 227,152 Wong's Kong King International 110,000 9,936 Wynn Macau, Ltd. 389,200 1,484,003 Xinyi Glass Holdings, Ltd. 3,204,000 3,177,354 * Xpress Group, Ltd. 100,000 4,399 Yau Lee Holdings, Ltd. 218,000 49,441 Yeebo International Hldg 26,000 3,822 YGM Trading, Ltd. 103,000 232,162 Yue Yuen Industrial Holdings, Ltd. 962,500 2,642,911 * Yugang International, Ltd. 4,450,000 29,845 * Zhuhai Holdings Investment Group, Ltd. 642,000 125,886 ------------ TOTAL HONG KONG 251,199,528 ------------ IRELAND -- (0.5%) Aer Lingus Group P.L.C. 137,266 260,784 * Anglo Irish Bank Corp. P.L.C. 457,521 -- INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- IRELAND -- (Continued) * Anglo Irish Bank Corp. P.L.C. (B06H8J9) 165,847 $ -- * Bank of Ireland 8,002,955 2,924,955 #* Bank of Ireland Sponsored ADR 77,558 1,126,917 C&C Group P.L.C.(B010DT8) 24,767 144,414 C&C Group P.L.C.(B011Y09) 442,022 2,587,737 CRH P.L.C.(4182249) 161,099 3,920,112 CRH P.L.C.(0182704) 71,685 1,748,096 CRH P.L.C. Sponsored ADR 424,196 10,384,318 Dragon Oil P.L.C. 312,945 2,947,961 * Elan Corp. P.L.C. 11,725 194,750 * Elan Corp. P.L.C. Sponsored ADR 203,900 3,396,974 FBD Holdings P.L.C.(4330231) 16,995 366,624 FBD Holdings P.L.C.(0329028) 18,709 394,568 Glanbia P.L.C.(4058629) 32,138 449,858 Glanbia P.L.C.(0066950) 74,909 1,054,022 IFG Group P.L.C. 45,155 85,635 Irish Continental Group P.L.C. 6,787 238,138 * Kenmare Resources P.L.C. 357,459 115,282 Kerry Group P.L.C. Class A(4519579) 17,572 1,125,396 Kerry Group P.L.C. Class A(0490656) 76,886 4,905,169 Kingspan Group P.L.C.(4491235) 159,597 2,669,075 Kingspan Group P.L.C.(0492793) 19,320 326,352 Paddy Power P.L.C.(4828974) 11,659 949,737 Paddy Power P.L.C.(0258810) 7,672 620,916 Smurfit Kappa Group P.L.C. 190,862 4,620,105 ----------- TOTAL IRELAND 47,557,895 ----------- ISRAEL -- (0.5%) #* Africa Israel Investments, Ltd. 165,781 279,080 * Africa Israel Properties, Ltd. 17,112 266,498 * Airport City, Ltd. 27,470 237,464 * AL-ROV Israel, Ltd. 6,440 213,702 * Allot Communications, Ltd. 3,534 47,054 * Alon Blue Square Israel, Ltd. 22,459 88,577 * Alrov Properties and Lodgings, Ltd. 1,870 54,313 * Alvarion, Ltd. 1 1 Amot Investments, Ltd. 87,247 249,930 * AudioCodes, Ltd. 29,705 178,668 Avgol Industries 1953, Ltd. 30,929 27,802 * Azorim-Investment Development & Construction Co., Ltd. 20,709 22,294 # Azrieli Group 62,815 2,013,961 Babylon, Ltd. 23,921 51,151 Bank Hapoalim BM 1,107,888 5,931,054 * Bank Leumi Le-Israel BM 1,425,320 5,425,417 Bayside Land Corp. 848 219,186 Bezeq The Israeli Telecommunication Corp., Ltd. 937,462 1,629,958 Big Shopping Centers 2004, Ltd. 221 7,936 * Biocell, Ltd. 937 5,214 * BioLine RX, Ltd. 81,468 20,731 * Cellcom Israel, Ltd.(B23WQK8) 15,074 175,519 * Cellcom Israel, Ltd.(M2196U109) 11,479 132,008 * Ceragon Networks, Ltd. 14,237 49,401 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- ISRAEL -- (Continued) #* Clal Biotechnology Industries, Ltd. 54,020 $ 117,256 Clal Industries, Ltd. 117,575 524,019 Clal Insurance Enterprises Holdings, Ltd. 39,561 775,305 Delek Automotive Systems, Ltd. 30,910 342,720 Delek Group, Ltd. 3,983 1,375,340 # Delta-Galil Industries, Ltd. 3,853 90,893 #* El Al Israel Airlines 152,065 24,966 # Elbit Systems, Ltd. 31,099 1,659,785 Electra, Ltd. 2,080 262,129 * Elron Electronic Industries, Ltd. 20,508 150,279 * Evogene, Ltd. 21,662 176,248 * EZchip Semiconductor, Ltd.(6554998) 2,588 68,167 #* EZchip Semiconductor, Ltd.(M4146Y108) 24,727 640,429 First International Bank Of Israel, Ltd. 43,161 708,227 FMS Enterprises Migun, Ltd. 3,360 39,481 Formula Systems 1985, Ltd. 10,365 269,151 Frutarom Industries, Ltd. 54,460 975,754 * Gilat Satellite Networks, Ltd.(B01BZ39) 28,182 143,856 * Gilat Satellite Networks, Ltd.(M51474118) 4,324 22,312 * Given Imaging, Ltd. 14,868 298,767 Golf & Co., Ltd. 12,895 45,024 * Hadera Paper, Ltd. 3,551 208,596 Harel Insurance Investments & Financial Services, Ltd. 192,224 1,127,153 # Industrial Buildings Corp. 69,029 124,589 Israel Chemicals, Ltd. 96,757 799,918 * Israel Discount Bank, Ltd. Class A 1,288,683 2,571,636 Israel Land Development Co., Ltd. (The) 7,214 29,776 Ituran Location and Control, Ltd.(B0LDC23) 17,900 327,453 Ituran Location and Control, Ltd.(M6158M104) 1,690 30,927 * Jerusalem Oil Exploration 17,504 646,446 * Kamada, Ltd. 20,396 294,369 Magic Software Enterprises, Ltd. 10,713 67,423 Matrix IT, Ltd. 60,110 316,243 #* Mazor Robotics, Ltd. 21,103 185,071 Meitav DS Investments, Ltd. 17,159 61,992 Melisron, Ltd. 16,162 427,771 Menorah Mivtachim Holdings, Ltd. 45,897 528,303 Migdal Insurance & Financial Holding, Ltd. 501,658 875,733 Mivtach Shamir 7,412 272,391 Mizrahi Tefahot Bank, Ltd. 251,371 2,946,542 * Naphtha Israel Petroleum Corp., Ltd. 35,462 228,427 * Neto ME Holdings, Ltd. 1,394 74,150 NICE Systems, Ltd. Sponsored ADR 55,680 2,181,542 #* Nitsba Holdings 1995, Ltd. 33,909 474,856 * Nova Measuring Instruments, Ltd. 9,797 86,038 * Oil Refineries, Ltd. 1,381,782 446,626 * Ormat Industries 104,634 707,375 Osem Investments, Ltd. 29,010 639,943 * Partner Communications Co., Ltd. 39,387 323,414 * Partner Communications Co., Ltd. ADR 10,175 82,621 * Paz Oil Co., Ltd. 6,085 944,561 Phoenix Holdings, Ltd. (The) 92,843 364,982 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- ISRAEL -- (Continued) # Rami Levi Chain Stores Hashikma Marketing 2006, Ltd. 5,494 $ 297,289 Shikun & Binui, Ltd. 185,607 444,063 Shufersal, Ltd. 60,440 243,861 Strauss Group, Ltd. 43,223 762,202 Teva Pharmaceutical Industries, Ltd. 264 9,810 Teva Pharmaceutical Industries, Ltd. Sponsored ADR 291,714 10,819,672 * Tower Semiconductor, Ltd. 22,626 110,229 * Union Bank of Israel 38,349 171,947 ----------- TOTAL ISRAEL 57,292,967 ----------- ITALY -- (2.2%) A2A SpA 1,540,487 1,733,301 ACEA SpA 68,749 715,338 #* Acotel Group SpA 164 5,122 Aeroporto di Venezia Marco Polo SpA - SAVE 28,144 510,166 Alerion Cleanpower SpA 26,596 129,370 Amplifon SpA 74,575 397,575 Ansaldo STS SpA 72,030 764,341 * Arnoldo Mondadori Editore SpA 190,075 405,465 Ascopiave SpA 48,861 106,819 Assicurazioni Generali SpA 522,729 12,220,877 Astaldi SpA 89,743 874,242 Atlantia SpA 79,634 1,745,340 * Autogrill SpA 76,248 684,460 Azimut Holding SpA 101,029 2,562,819 #* Banca Carige SpA 1,148,187 918,047 # Banca Finnat Euramerica SpA 48,133 20,139 Banca Generali SpA 21,477 560,664 Banca IFIS SpA 16,695 250,599 #* Banca Monte dei Paschi di Siena SpA 8,896,834 2,804,960 * Banca Piccolo Credito Valtellinese Scarl 477,241 854,029 * Banca Popolare dell'Emilia Romagna S.c.r.l. 614,221 5,901,006 #* Banca Popolare dell'Etruria e del Lazio 20,702 19,313 * Banca Popolare di Milano Scarl 5,931,771 3,962,434 Banca Popolare di Sondrio Scarl 447,919 2,578,111 Banca Profilo SpA 191,941 64,131 Banco di Desio e della Brianza SpA 50,037 157,091 * Banco Popolare 3,082,816 6,124,286 * BasicNet SpA 47,125 122,881 * Beghelli SpA 52,121 25,626 * Biesse SpA 8,931 51,687 Brembo SpA 37,969 1,004,216 * Brioschi Sviluppo Immobiliare SpA 218,173 25,894 Brunello Cucinelli SpA 5,444 169,677 # Buzzi Unicem SpA 145,043 2,511,188 Cairo Communication SpA 13,925 97,473 * Caltagirone Editore SpA 103,994 168,767 * Carraro SpA 24,693 95,772 Cembre SpA 4,534 48,028 Cementir Holding SpA 108,342 498,684 * CIR-Compagnie Industriali Riunite SpA 766,611 1,275,162 * CNH Industrial NV 279,915 3,310,274 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- ITALY -- (Continued) Credito Bergamasco SpA 7,858 $ 151,237 Credito Emiliano SpA 163,249 1,234,171 * d'Amico International Shipping SA 149,651 129,377 # Danieli & C Officine Meccaniche SpA 22,187 681,974 Datalogic SpA 1,298 14,094 Davide Campari-Milano SpA 173,024 1,507,895 De'Longhi SpA 35,863 553,826 * Delclima 35,945 50,110 # DiaSorin SpA 11,549 546,583 Ei Towers SpA 9,816 410,360 Enel Green Power SpA 1,159,587 2,820,768 Enel SpA 909,980 4,014,765 Engineering SpA 7,915 431,071 Eni SpA 452,654 11,491,492 # Eni SpA Sponsored ADR 221,992 11,277,194 ERG SpA 102,190 1,247,944 Esprinet SpA 50,710 368,628 * Eurotech SpA 33,665 86,674 * Falck Renewables SpA 244,688 416,682 * Fiat SpA 1,296,040 10,169,677 #* Fiat SpA Sponsored ADR 8,900 70,399 * Fiera Milano SpA 2,610 18,904 #* Finmeccanica SpA 756,306 5,542,221 #* Fondiaria-Sai SpA 745,191 1,909,230 Gas Plus 5,879 37,659 * Gemina SpA 883,822 2,144,310 # Geox SpA 139,690 382,510 * Gruppo Editoriale L'Espresso SpA 239,440 477,109 Gruppo MutuiOnline SpA 659 3,669 Gtech Spa 62,496 1,897,941 # Hera SpA 653,950 1,317,546 * IMMSI SpA 276,085 170,457 Impregilo SpA 32,879 209,310 Indesit Co. SpA 66,609 687,902 Industria Macchine Automatiche SpA 6,285 215,370 * Intek Group SpA 333,235 143,803 Interpump Group SpA 103,059 1,146,115 Intesa Sanpaolo SpA 6,696,613 16,613,444 Intesa Sanpaolo SpA Sponsored ADR 13,817 205,597 Iren SpA 693,187 1,036,439 # Italcementi SpA 161,933 1,440,149 * Italmobiliare SpA 13,001 423,935 #* Juventus Football Club SpA 838,886 272,731 #* Landi Renzo SpA 62,245 104,912 Luxottica Group SpA 22,198 1,202,495 Luxottica Group SpA Sponsored ADR 13,400 721,858 MARR SpA 25,692 403,985 #* Mediaset SpA 1,010,621 5,046,724 Mediobanca SpA 892,462 8,131,608 Mediolanum SpA 254,668 2,216,222 * Milano Assicurazioni SpA 271,486 231,612 Nice SpA 16,046 63,806 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ------------ ITALY -- (Continued) Parmalat SpA 940,095 $ 3,162,029 Piaggio & C SpA 270,693 781,149 * Pininfarina SpA 18,158 80,317 # Pirelli & C. SpA 254,580 3,581,198 * Poltrona Frau SpA 72,321 237,926 #* Prelios SpA 172,870 147,157 * Premafin Finanziaria SpA 173,719 39,522 * Prima Industrie SpA 514 6,863 Prysmian SpA 98,117 2,396,720 #* RCS MediaGroup SpA 22,552 49,622 Recordati SpA 83,789 1,100,610 #* Reno de Medici SpA 220,924 85,310 Reply SpA 3,931 255,932 #* Retelit SpA 172,740 129,991 Sabaf SpA 3,423 61,655 SAES Getters SpA 4,958 48,142 * Safilo Group SpA 68,701 1,404,516 # Saipem SpA 46,319 1,083,546 Salvatore Ferragamo Italia SpA 16,292 557,744 #* Saras SpA 348,236 431,024 * Snai SpA 8,397 11,562 Snam SpA 569,117 2,932,381 Societa Cattolica di Assicurazioni S.c.r.l. 61,723 1,562,675 # Societa Iniziative Autostradali e Servizi SpA 94,804 993,188 * Societa Partecipazioni Finanziarie SpA 271,551 -- Societa per la Bonifica dei Terreni Ferraresi e Imprese Agricole SpA 954 45,744 Sogefi SpA 79,982 454,855 SOL SpA 26,109 197,204 * Sorin SpA 411,834 1,134,599 # Telecom Italia SpA 5,103,738 4,978,936 # Telecom Italia SpA Sponsored ADR 342,088 3,338,779 # Tenaris SA ADR 49,796 2,330,951 Terna Rete Elettrica Nazionale SpA 914,397 4,526,615 #* Tiscali SpA 932,426 55,472 Tod's SpA 5,644 939,224 Trevi Finanziaria Industriale SpA 64,131 589,637 * Uni Land SpA 58,555 -- UniCredit SpA 2,679,295 20,112,357 Unione di Banche Italiane SCPA 1,667,356 11,523,821 Unipol Gruppo Finanziario SpA 507,922 2,693,182 Vianini Lavori SpA 26,898 154,857 Vittoria Assicurazioni SpA 39,838 473,444 * World Duty Free SpA 76,248 844,769 * Yoox SpA 21,873 786,865 Zignago Vetro SpA 11,452 73,515 ------------ TOTAL ITALY 234,965,473 ------------ JAPAN -- (18.4%) 77 Bank, Ltd. (The) 628,000 3,106,004 #* A&A Material Corp. 12,000 18,259 A&D Co., Ltd. 24,900 162,485 A.S. One Corp. 18,190 401,599 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- JAPAN -- (Continued) # ABC-Mart, Inc. 9,500 $ 475,104 Accordia Golf Co., Ltd. 152,000 1,668,232 Achilles Corp. 290,000 481,245 Adastria Holdings Co., Ltd. 6,550 306,745 ADEKA Corp. 163,500 1,922,537 Aderans Co., Ltd. 8,300 101,685 Advan Co., Ltd. 21,700 267,310 # Advantest Corp. 102,200 1,223,125 # Advantest Corp. ADR 15,767 193,934 # Aeon Co., Ltd. 327,600 4,470,566 Aeon Fantasy Co., Ltd. 14,500 227,028 Aeon Mall Co., Ltd. 13,420 381,141 * Agora Hospitality Group Co., Ltd. 41,000 22,092 Agrex, Inc. 4,200 37,251 Ahresty Corp. 31,800 252,300 Ai Holdings Corp. 45,900 588,173 Aica Kogyo Co., Ltd. 48,300 988,781 Aichi Bank, Ltd. (The) 16,100 731,698 Aichi Corp. 52,100 275,455 Aichi Steel Corp. 208,000 1,066,177 Aichi Tokei Denki Co., Ltd. 70,000 204,663 Aida Engineering, Ltd. 83,200 804,258 * Aigan Co., Ltd. 26,900 76,971 Ain Pharmaciez, Inc. 15,400 668,011 # Aiphone Co., Ltd. 21,600 353,765 Air Water, Inc. 110,000 1,572,369 Airport Facilities Co., Ltd. 35,100 307,030 Aisan Industry Co., Ltd. 50,100 504,690 Aisin Seiki Co., Ltd. 79,700 3,237,764 Aizawa Securities Co., Ltd. 53,400 363,475 Ajinomoto Co., Inc. 442,000 6,184,917 Akita Bank, Ltd. (The) 324,000 813,471 Alconix Corp. 7,800 160,848 Alfresa Holdings Corp. 58,400 3,191,925 Alinco, Inc. 9,900 94,799 Allied Telesis Holdings KK 125,800 120,460 # Alpen Co., Ltd. 34,300 713,798 Alpha Corp. 3,500 37,137 Alpha Systems, Inc. 11,520 157,590 Alpine Electronics, Inc. 96,500 1,168,262 * Alps Electric Co., Ltd. 289,300 2,538,770 Alps Logistics Co., Ltd. 10,900 109,721 Altech Corp. 12,600 135,172 # Amada Co., Ltd. 604,000 5,195,953 Amano Corp. 106,000 1,038,500 Amiyaki Tei Co., Ltd. 3,300 119,550 Amuse, Inc. 8,920 169,876 ANA Holdings, Inc. 314,000 656,025 Anest Iwata Corp. 48,000 235,321 # Anritsu Corp. 119,000 1,560,299 AOI Electronic Co., Ltd. 6,400 96,860 AOI Pro, Inc. 5,500 35,858 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- JAPAN -- (Continued) AOKI Holdings, Inc. 27,400 $ 911,427 Aomori Bank, Ltd. (The) 354,000 923,348 Aoyama Trading Co., Ltd. 99,900 2,547,217 Aozora Bank, Ltd. 767,000 2,229,696 Arakawa Chemical Industries, Ltd. 22,600 227,010 Arata Corp. 4,000 14,160 # Araya Industrial Co., Ltd. 59,000 107,281 Arcland Sakamoto Co., Ltd. 30,100 449,652 Arcs Co., Ltd. 60,473 1,133,507 Argo Graphics, Inc. 9,800 160,605 Ariake Japan Co., Ltd. 25,900 626,557 Arisawa Manufacturing Co., Ltd. 59,900 404,536 #* Arnest One Corp. 48,300 1,326,248 # Artnature, Inc. 6,200 132,333 Asahi Broadcasting Corp. 6,500 44,593 # Asahi Co., Ltd. 6,200 105,097 Asahi Diamond Industrial Co., Ltd. 89,600 869,800 # Asahi Glass Co., Ltd. 1,114,000 6,880,094 Asahi Group Holdings, Ltd. 91,400 2,471,867 Asahi Holdings, Inc. 35,100 578,673 # Asahi Kasei Corp. 1,050,000 7,991,130 # Asahi Kogyosha Co., Ltd. 31,000 111,346 Asahi Net, Inc. 7,000 34,730 Asahi Organic Chemicals Industry Co., Ltd. 104,000 233,377 #* Asanuma Corp. 138,000 227,124 Asatsu-DK, Inc. 60,000 1,648,908 Asax Co., Ltd. 2,200 31,504 #* Ashimori Industry Co., Ltd. 100,000 133,559 Asics Corp. 42,700 752,827 ASKA Pharmaceutical Co., Ltd. 38,000 282,011 ASKUL Corp. 19,500 623,946 Astellas Pharma, Inc. 42,000 2,341,347 Asunaro Aoki Construction Co., Ltd. 40,500 236,736 Atsugi Co., Ltd. 328,000 388,054 Autobacs Seven Co., Ltd. 117,200 1,708,832 # Avex Group Holdings, Inc. 29,600 750,051 Awa Bank, Ltd. (The) 332,000 1,733,854 Axell Corp. 10,100 192,913 Axial Retailing, Inc. 8,100 131,785 Azbil Corp. 108,800 2,621,496 Bando Chemical Industries, Ltd. 147,000 573,563 # Bank of Iwate, Ltd. (The) 29,100 1,321,604 Bank of Kyoto, Ltd. (The) 347,000 3,057,521 Bank of Nagoya, Ltd. (The) 300,000 1,028,815 Bank of Okinawa, Ltd. (The) 34,550 1,337,252 Bank of Saga, Ltd. (The) 230,000 494,247 Bank of the Ryukyus, Ltd. 73,200 798,826 Bank of Yokohama, Ltd. (The) 1,268,000 6,992,096 Belc Co., Ltd. 14,338 260,857 Belluna Co., Ltd. 87,100 462,445 Benefit One, Inc. 4,400 43,815 # Benesse Holdings, Inc. 23,100 860,981 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- JAPAN -- (Continued) # Best Bridal, Inc. 8,400 $ 59,162 * Best Denki Co., Ltd. 110,800 172,950 # Bic Camera, Inc. 1,506 740,431 Bit-isle, Inc. 12,300 105,492 BML, Inc. 17,600 601,343 # Bookoff Corp. 18,300 122,898 Bridgestone Corp. 84,900 2,910,600 Brother Industries, Ltd. 326,600 3,710,927 Bunka Shutter Co., Ltd. 81,000 454,171 C Uyemura & Co., Ltd. 900 38,150 CAC Corp. 24,400 216,877 Calbee, Inc. 12,800 335,864 Calsonic Kansei Corp. 298,000 1,432,712 # Can Do Co., Ltd. 3,300 54,212 Canon Electronics, Inc. 42,200 788,763 Canon Marketing Japan, Inc. 100,100 1,341,020 Canon, Inc. 123,734 3,904,635 # Canon, Inc. Sponsored ADR 59,377 1,874,532 * Carlit Holdings Co., Ltd. 22,000 110,620 # Casio Computer Co., Ltd. 241,500 2,311,497 Cawachi, Ltd. 27,900 524,777 Central Glass Co., Ltd. 386,000 1,342,454 Central Japan Railway Co. 20,500 2,658,268 # Central Sports Co., Ltd. 1,100 17,135 # Century Tokyo Leasing Corp. 68,230 2,158,467 # Chiba Bank, Ltd. (The) 800,000 5,703,097 * Chiba Kogyo Bank, Ltd. (The) 80,300 612,043 Chino Corp. 57,000 133,041 Chiyoda Co., Ltd. 39,800 873,568 # Chiyoda Corp. 75,000 951,093 Chiyoda Integre Co., Ltd. 24,100 417,386 Chori Co., Ltd. 24,400 291,759 # Chubu Electric Power Co., Inc. 86,200 1,276,025 Chubu Shiryo Co., Ltd. 29,700 172,788 Chuetsu Pulp & Paper Co., Ltd. 134,000 217,077 * Chugai Mining Co., Ltd. 259,700 90,045 Chugai Pharmaceutical Co., Ltd. 19,800 465,228 # Chugai Ro Co., Ltd. 116,000 303,592 Chugoku Bank, Ltd. (The) 267,900 3,851,461 Chugoku Electric Power Co., Inc. (The) 76,300 1,169,577 Chugoku Marine Paints, Ltd. 101,000 576,964 Chukyo Bank, Ltd. (The) 192,000 346,334 Chuo Denki Kogyo Co., Ltd. 31,000 104,985 Chuo Gyorui Co., Ltd. 38,000 89,063 Chuo Spring Co., Ltd. 60,000 187,552 Citizen Holdings Co., Ltd. 428,750 3,058,969 CKD Corp. 97,200 902,308 #* Clarion Co., Ltd. 164,000 219,350 Cleanup Corp. 35,300 309,735 # CMIC Holdings Co., Ltd. 15,000 206,219 CMK Corp. 71,400 205,756 #* Co-Op Chemical Co., Ltd. 26,000 37,177 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- JAPAN -- (Continued) Coca-Cola Central Japan Co., Ltd. 83,067 $1,471,169 Coca-Cola West Co., Ltd. 116,402 2,360,983 Cocokara fine, Inc. 23,320 664,253 Computer Engineering & Consulting, Ltd. 17,600 112,048 COMSYS Holdings Corp. 184,200 2,557,370 CONEXIO Corp. 4,100 35,269 Core Corp. 4,800 36,439 Corona Corp. 21,700 245,042 Cosel Co., Ltd. 32,900 411,914 #* Cosmo Oil Co., Ltd. 1,022,000 1,799,546 #* Cosmos Initia Co., Ltd. 19,800 127,170 Cosmos Pharmaceutical Corp. 3,000 365,492 Create Medic Co., Ltd. 3,500 33,733 CREATE SD HOLDINGS Co., Ltd. 500 18,227 Credit Saison Co., Ltd. 156,300 4,277,997 Cresco, Ltd. 36,000 279,587 Cross Plus, Inc. 2,000 18,134 CTI Engineering Co., Ltd. 12,800 115,372 Cybernet Systems Co., Ltd. 10,400 36,505 Cybozu, Inc. 130 37,966 # Dai Nippon Printing Co., Ltd. 587,000 6,167,002 Dai Nippon Toryo Co., Ltd. 214,000 363,076 Dai-Dan Co., Ltd. 42,000 224,461 Dai-Ichi Kogyo Seiyaku Co., Ltd. 47,000 116,251 Dai-ichi Life Insurance Co., Ltd. (The) 450,800 6,435,531 # Dai-ichi Seiko Co., Ltd. 15,700 240,834 Daibiru Corp. 80,900 1,030,957 Daicel Corp. 423,000 3,565,373 Daido Kogyo Co., Ltd. 57,000 163,765 Daido Metal Co., Ltd. 56,000 587,452 # Daido Steel Co., Ltd. 409,000 2,351,903 Daidoh, Ltd. 34,800 238,161 #* Daiei, Inc. (The) 216,500 750,672 Daifuku Co., Ltd. 148,500 1,909,617 Daihatsu Diesel Manufacturing Co., Ltd. 10,000 51,353 Daihatsu Motor Co., Ltd. 66,000 1,281,468 # Daihen Corp. 170,000 726,337 # Daiho Corp. 99,000 371,927 Daiichi Jitsugyo Co., Ltd. 82,000 351,685 Daiichi Kigenso Kagaku-Kogyo Co., Ltd. 3,000 91,204 # Daiichi Sankyo Co., Ltd. 241,700 4,481,340 Daiichikosho Co., Ltd. 27,800 794,402 Daiken Corp. 111,000 302,299 Daiki Aluminium Industry Co., Ltd. 46,000 129,501 # Daiki Ataka Engineering Co., Ltd. 12,000 57,746 # Daikin Industries, Ltd. 48,900 2,813,381 Daiko Clearing Services Corp. 13,800 95,583 Daikoku Denki Co., Ltd. 12,400 271,925 # Daikokutenbussan Co., Ltd. 7,000 210,055 Daikyo, Inc. 550,392 1,709,713 Dainichi Co., Ltd. 17,300 145,139 Dainichiseika Color & Chemicals Manufacturing Co., Ltd. 121,000 503,314 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- JAPAN -- (Continued) Dainippon Sumitomo Pharma Co., Ltd. 116,000 $ 1,560,903 # Daio Paper Corp. 174,000 1,288,248 Daisan Bank, Ltd. (The) 239,000 391,697 Daiseki Co., Ltd. 46,725 917,672 Daishi Bank, Ltd. (The) 533,000 1,860,804 Daishinku Corp. 67,000 253,544 Daiso Co., Ltd. 127,000 385,447 Daisyo Corp. 23,700 312,628 Daito Bank, Ltd. (The) 261,000 274,317 Daito Electron Co., Ltd. 1,000 4,183 Daito Pharmaceutical Co., Ltd. 12,700 182,981 Daito Trust Construction Co., Ltd. 13,200 1,347,769 Daiwa House Industry Co., Ltd. 300,000 6,010,131 Daiwa Industries, Ltd. 33,000 207,657 Daiwa Securities Group, Inc. 1,455,000 13,289,635 Daiwabo Holdings Co., Ltd. 406,000 778,051 # DC Co., Ltd. 27,400 200,649 DCM Holdings Co., Ltd. 157,280 1,098,906 # Dena Co., Ltd. 51,000 1,111,297 Denki Kagaku Kogyo KK 805,000 3,375,959 Denki Kogyo Co., Ltd. 109,000 722,109 Denso Corp. 125,500 6,032,587 Dentsu, Inc. 110,300 4,167,376 Denyo Co., Ltd. 27,300 336,309 Descente, Ltd. 74,000 541,510 DIC Corp. 566,000 1,638,647 # Disco Corp. 17,700 1,118,526 # DMG Mori Seiki Co., Ltd. 169,900 2,756,116 DMW Corp. 900 14,650 Don Quijote Co., Ltd. 14,200 945,244 Doshisha Co., Ltd. 34,800 504,720 Doutor Nichires Holdings Co., Ltd. 55,923 1,015,723 Dowa Holdings Co., Ltd. 273,500 2,581,227 # Dr Ci:Labo Co., Ltd. 79 261,472 Dream Incubator, Inc. 62 110,311 DTS Corp. 33,900 580,418 Dunlop Sports Co., Ltd. 21,200 263,872 Duskin Co., Ltd. 90,800 1,845,595 Dynic Corp. 14,000 24,733 Eagle Industry Co., Ltd. 39,000 626,731 Earth Chemical Co., Ltd. 4,800 178,300 East Japan Railway Co. 45,700 3,969,988 # Ebara Corp. 640,000 3,440,849 Ebara Jitsugyo Co., Ltd. 11,000 150,342 Echo Trading Co., Ltd. 3,000 22,124 # EDION Corp. 155,900 780,423 Ehime Bank, Ltd. (The) 198,000 476,306 Eidai Co., Ltd. 25,000 136,053 Eighteenth Bank, Ltd. (The) 281,000 647,287 # Eiken Chemical Co., Ltd. 27,200 504,871 Eisai Co., Ltd. 24,700 970,266 Eizo Corp. 32,500 799,758 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- JAPAN -- (Continued) Elecom Co., Ltd. 11,600 $ 164,676 Electric Power Development Co., Ltd. 29,600 945,952 Elematec Corp. 11,103 161,659 Emori & Co., Ltd. 7,500 124,409 en-japan, Inc. 6,100 136,247 # Endo Lighting Corp. 9,300 214,375 # Enplas Corp. 9,900 652,659 * Enshu, Ltd. 79,000 129,316 # EPS Corp. 138 143,395 ESPEC Corp. 40,000 311,484 Excel Co., Ltd. 7,600 90,351 Exedy Corp. 55,500 1,648,369 Ezaki Glico Co., Ltd. 73,000 811,014 F-Tech, Inc. 9,800 171,057 Faith, Inc. 9,480 99,764 FALCO SD HOLDINGS Co., Ltd. 8,600 112,305 FamilyMart Co., Ltd. 20,100 900,413 # Fancl Corp. 74,300 883,588 # FANUC Corp. 14,000 2,245,707 Fast Retailing Co., Ltd. 4,200 1,413,769 FCC Co., Ltd. 50,400 1,151,383 #* FDK Corp. 84,000 88,228 Felissimo Corp. 1,200 12,102 Ferrotec Corp. 58,900 289,569 FIDEA Holdings Co., Ltd. 95,200 187,802 Fields Corp. 19,700 349,059 * First Baking Co., Ltd. 12,000 18,953 Foster Electric Co., Ltd. 42,100 823,709 FP Corp. 12,400 958,152 France Bed Holdings Co., Ltd. 193,000 399,770 * Fudo Tetra Corp. 124,700 241,827 Fuji Co. Ltd/Ehime 24,500 440,892 Fuji Corp., Ltd. 35,400 242,668 Fuji Electric Co., Ltd. 829,000 3,716,341 Fuji Electronics Co., Ltd. 16,400 224,720 Fuji Furukawa Engineering & Construction Co., Ltd. 10,000 25,023 # Fuji Heavy Industries, Ltd. 420,000 11,483,441 Fuji Kiko Co., Ltd. 17,000 58,413 Fuji Kosan Co., Ltd. 11,000 70,237 # Fuji Kyuko Co., Ltd. 14,000 115,984 Fuji Media Holdings, Inc. 52,300 1,042,619 Fuji Oil Co. Ltd/Osaka 104,800 1,909,957 Fuji Oil Co., Ltd. 77,400 277,784 Fuji Oozx, Inc. 6,000 30,931 Fuji Pharma Co., Ltd. 9,900 176,002 Fuji Seal International, Inc. 37,600 1,134,598 Fuji Soft, Inc. 37,200 739,627 Fujibo Holdings, Inc. 239,000 487,010 Fujicco Co., Ltd. 32,600 404,888 FUJIFILM Holdings Corp. 263,375 6,443,139 Fujikura Kasei Co., Ltd. 42,500 231,767 Fujikura Rubber, Ltd. 18,900 84,252 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- JAPAN -- (Continued) Fujikura, Ltd. 669,000 $3,052,754 Fujimi, Inc. 31,400 421,874 Fujimori Kogyo Co., Ltd. 16,900 503,038 Fujitec Co., Ltd. 98,000 1,205,055 Fujitsu Frontech, Ltd. 23,600 193,697 Fujitsu General, Ltd. 42,000 508,884 #* Fujitsu, Ltd. 1,528,292 6,565,854 # Fujiya Co., Ltd. 116,000 229,111 FuKoKu Co., Ltd. 8,400 71,691 Fukuda Corp. 40,000 165,890 Fukui Bank, Ltd. (The) 399,000 870,192 # Fukuoka Financial Group, Inc. 828,600 3,737,362 Fukushima Bank, Ltd. (The) 445,000 394,928 Fukushima Industries Corp. 21,100 283,670 # Fukuyama Transporting Co., Ltd. 233,000 1,489,287 # Fumakilla, Ltd. 15,000 43,848 Funai Consulting, Inc. 24,000 191,720 Furukawa Battery Co., Ltd. 18,000 101,617 Furukawa Co., Ltd. 461,000 961,077 # Furukawa Electric Co., Ltd. 1,302,067 3,017,902 Furuno Electric Co., Ltd. 41,700 272,362 Furusato Industries, Ltd. 14,900 154,327 Furuya Metal Co., Ltd. 1,400 38,126 Fuso Chemical Co., Ltd. 200 4,996 Fuso Pharmaceutical Industries, Ltd. 108,000 344,427 * Futaba Industrial Co., Ltd. 106,700 397,547 Future Architect, Inc. 6,900 40,358 Fuyo General Lease Co., Ltd. 24,400 1,012,289 G-7 Holdings, Inc. 6,500 51,694 G-Tekt Corp. 16,000 472,947 # Gakken Holdings Co., Ltd. 98,000 302,538 Gecoss Corp. 23,500 181,477 # Geo Holdings Corp. 70,200 654,400 GLOBERIDE, Inc. 106,000 180,674 Glory, Ltd. 103,600 2,568,958 Godo Steel, Ltd. 236,000 433,864 Goldcrest Co., Ltd. 35,930 961,266 Goldwin, Inc. 66,000 314,681 # Gourmet Kineya Co., Ltd. 28,000 193,503 # Gree, Inc. 72,500 623,537 # GS Yuasa Corp. 499,000 2,997,157 GSI Creos Corp. 122,000 181,686 Gulliver International Co., Ltd. 80,100 477,595 # Gun-Ei Chemical Industry Co., Ltd. 89,000 440,499 Gunma Bank, Ltd. (The) 696,000 4,027,169 Gunze, Ltd. 307,000 819,917 # Gurunavi, Inc. 8,500 183,476 H-One Co., Ltd. 20,800 212,170 # H2O Retailing Corp. 181,000 1,538,058 Hachijuni Bank, Ltd. (The) 690,000 4,262,536 # Hagihara Industries, Inc. 4,900 66,851 Hagoromo Foods Corp. 3,000 33,168 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- JAPAN -- (Continued) #* Hajime Construction Co., Ltd. 5,200 $ 360,134 Hakudo Co., Ltd. 5,600 45,747 Hakuhodo DY Holdings, Inc. 297,400 2,300,141 Hakuto Co., Ltd. 28,700 277,526 Hamakyorex Co., Ltd. 12,300 340,316 Hamamatsu Photonics KK 46,900 1,754,970 Hankyu Hanshin Holdings, Inc. 847,000 4,750,689 Hanwa Co., Ltd. 378,000 1,758,716 Happinet Corp. 23,000 173,259 Hard Off Corp. Co., Ltd. 16,700 126,307 Harima Chemicals Group, Inc. 22,000 109,039 Haruyama Trading Co., Ltd. 6,500 44,625 * Haseko Corp. 229,200 1,698,859 # Hazama Ando Corp. 267,780 989,422 Heiwa Corp. 48,800 818,193 Heiwa Real Estate Co., Ltd. 68,600 1,242,526 Heiwado Co., Ltd. 58,100 906,092 HI-LEX Corp. 6,400 137,919 Hibiya Engineering, Ltd. 38,100 463,472 Hiday Hidaka Corp. 9,720 207,883 Higashi Nihon House Co., Ltd. 13,000 69,495 Higashi-Nippon Bank, Ltd. (The) 256,000 564,978 Higo Bank, Ltd. (The) 332,000 1,889,930 Hikari Tsushin, Inc. 24,800 1,837,567 Himaraya Co., Ltd. 4,900 70,170 # Hino Motors, Ltd. 85,000 1,201,012 Hioki EE Corp. 5,800 82,813 # Hiroshima Bank, Ltd. (The) 898,000 3,821,810 Hisaka Works, Ltd. 39,000 349,932 Hisamitsu Pharmaceutical Co., Inc. 11,600 627,684 # Hitachi Capital Corp. 81,700 2,197,343 # Hitachi Chemical Co., Ltd. 101,200 1,552,587 # Hitachi Construction Machinery Co., Ltd. 111,200 2,355,054 Hitachi High-Technologies Corp. 91,500 2,104,495 Hitachi Koki Co., Ltd. 103,200 756,486 Hitachi Kokusai Electric, Inc. 27,000 362,733 Hitachi Medical Corp. 32,000 447,791 Hitachi Metals Techno, Ltd. 3,500 33,381 # Hitachi Metals, Ltd. 152,730 2,056,601 # Hitachi Transport System, Ltd. 79,000 1,252,703 Hitachi Zosen Corp. 254,000 2,019,640 Hitachi, Ltd. 1,021,000 7,141,999 # Hitachi, Ltd. ADR 95,037 6,625,980 Hochiki Corp. 15,000 75,700 Hodogaya Chemical Co., Ltd. 91,000 187,608 Hogy Medical Co., Ltd. 20,300 1,181,162 * Hokkaido Electric Power Co., Inc. 135,200 1,741,662 # Hokkaido Gas Co., Ltd. 75,000 202,825 Hokkan Holdings, Ltd. 70,000 221,236 Hokko Chemical Industry Co., Ltd. 27,000 81,722 Hokkoku Bank, Ltd. (The) 447,000 1,652,046 Hokuetsu Bank, Ltd. (The) 373,000 773,588 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- JAPAN -- (Continued) Hokuetsu Industries Co., Ltd. 10,000 $ 32,292 # Hokuetsu Kishu Paper Co., Ltd. 219,295 1,021,768 Hokuhoku Financial Group, Inc. 2,150,000 4,433,195 Hokuriku Electric Industry Co., Ltd. 92,000 128,727 Hokuriku Electric Power Co. 109,000 1,552,528 Hokuriku Electrical Construction Co., Ltd. 9,000 36,764 # Hokuto Corp. 44,200 847,928 Honda Motor Co., Ltd. 283,100 11,304,999 # Honda Motor Co., Ltd. Sponsored ADR 417,161 16,669,754 # Honeys Co., Ltd. 29,830 327,098 Hoosiers Holdings Co., Ltd. 24,500 193,927 Horiba, Ltd. 58,800 2,148,577 Hoshizaki Electric Co., Ltd. 30,100 1,103,013 Hosiden Corp. 119,100 650,983 Hosokawa Micron Corp. 57,000 405,572 House Foods Group, Inc. 113,200 1,793,048 Howa Machinery, Ltd. 23,300 212,957 Hoya Corp. 121,200 2,906,297 Hurxley Corp. 2,200 16,984 Hyakugo Bank, Ltd. (The) 413,000 1,679,371 Hyakujushi Bank, Ltd. (The) 435,000 1,585,178 I-Net Corp/Kanagawa 8,800 64,564 Ibiden Co., Ltd. 200,900 3,482,696 IBJ Leasing Co., Ltd. 19,200 540,639 # Ichibanya Co., Ltd. 1,300 55,603 # Ichigo Group Holdings Co., Ltd. 270,400 1,121,546 Ichiken Co., Ltd. 22,000 41,934 * Ichikoh Industries, Ltd. 65,000 124,629 ICHINEN HOLDINGS Co., Ltd. 25,072 179,199 Idec Corp. 40,500 363,669 Idemitsu Kosan Co., Ltd. 23,100 1,933,777 # Ihara Chemical Industry Co., Ltd. 59,000 443,549 IHI Corp. 838,000 3,548,349 Iino Kaiun Kaisha, Ltd. 136,100 896,313 * IJT Technology Holdings Co., Ltd. 22,760 121,982 * Ikegami Tsushinki Co., Ltd. 58,000 62,840 # Ikyu Corp. 24 36,873 # Imasen Electric Industrial 29,100 411,819 # Imperial Hotel, Ltd. 15,100 369,881 # Inaba Denki Sangyo Co., Ltd. 41,200 1,240,230 Inaba Seisakusho Co., Ltd. 17,800 231,282 Inabata & Co., Ltd. 82,300 807,169 Inageya Co., Ltd. 24,600 254,009 Ines Corp. 56,100 371,553 Infocom Corp. 16,800 148,120 Information Services International-Dentsu, Ltd. 24,000 270,857 Innotech Corp. 29,600 136,514 Inpex Corp. 448,400 5,179,903 # Intage, Inc. 8,600 113,536 # Internet Initiative Japan, Inc. 18,900 530,434 #* Inui Steamship Co., Ltd. 50,700 199,219 # Inui Warehouse Co., Ltd. 11,400 116,749 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- JAPAN -- (Continued) Iriso Electronics Co., Ltd. 8,900 $ 350,763 Ise Chemical Corp. 18,000 155,575 Iseki & Co., Ltd. 341,000 1,108,726 # Isetan Mitsukoshi Holdings, Ltd. 359,240 5,444,352 * Ishihara Sangyo Kaisha, Ltd. 672,000 623,284 Ishii Iron Works Co., Ltd. 29,000 84,048 Ishizuka Glass Co., Ltd. 12,000 45,562 Isuzu Motors, Ltd. 333,000 2,073,785 IT Holdings Corp. 147,300 2,115,877 Itfor, Inc. 21,800 90,064 # Ito En, Ltd. 25,700 577,603 ITOCHU Corp. 593,000 7,130,316 Itochu Enex Co., Ltd. 98,400 536,202 # Itochu Techno-Solutions Corp. 33,400 1,310,287 Itochu-Shokuhin Co., Ltd. 10,400 344,232 Itoham Foods, Inc. 272,000 1,146,565 Itoki Corp. 70,800 359,029 Iwai Cosmo Holdings, Inc. 25,600 321,130 Iwaki & Co., Ltd. 19,000 42,190 #* Iwasaki Electric Co., Ltd. 144,000 305,319 Iwatani Corp. 316,000 1,455,352 Iwatsu Electric Co., Ltd. 168,000 169,873 Iyo Bank, Ltd. (The) 428,157 4,470,685 Izumi Co., Ltd. 47,100 1,531,865 Izumiya Co., Ltd. 104,000 491,076 #* Izutsuya Co., Ltd. 124,000 111,124 J Front Retailing Co., Ltd. 536,600 4,175,494 J-Oil Mills, Inc. 177,000 559,179 Jalux, Inc. 2,900 33,986 # Jamco Corp. 11,000 155,893 * Janome Sewing Machine Co., Ltd. 346,000 288,991 # Japan Airport Terminal Co., Ltd. 66,800 1,619,703 Japan Aviation Electronics Industry, Ltd. 95,000 956,419 # Japan Cash Machine Co., Ltd. 6,215 131,835 Japan Digital Laboratory Co., Ltd. 38,100 454,737 Japan Electronic Materials Corp. 4,100 15,110 Japan Exchange Group, Inc. 42,500 988,045 # Japan Foundation Engineering Co., Ltd. 10,400 44,693 Japan Medical Dynamic Marketing, Inc. 2,600 7,969 Japan Oil Transportation Co., Ltd. 2,000 4,623 Japan Pulp & Paper Co., Ltd. 133,000 429,598 * Japan Radio Co., Ltd. 115,000 433,743 # Japan Steel Works, Ltd. (The) 378,000 2,111,698 Japan Tobacco, Inc. 106,500 3,853,562 Japan Transcity Corp. 74,000 245,973 Japan Vilene Co., Ltd. 55,000 317,356 Japan Wool Textile Co., Ltd. (The) 99,000 779,803 Jastec Co., Ltd. 13,400 117,427 # JBCC Holdings, Inc. 27,600 256,457 JCU Corp. 2,100 86,105 JFE Holdings, Inc. 301,008 6,843,320 JGC Corp. 38,000 1,454,024 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- JAPAN -- (Continued) Jimoto Holdings, Inc. 7,500 $ 16,479 JK Holdings Co., Ltd. 10,900 67,512 JMS Co., Ltd. 40,000 130,476 #* Joban Kosan Co., Ltd. 35,000 60,328 Joshin Denki Co., Ltd. 65,000 529,267 Jowa Holdings Co., Ltd. 9,100 272,442 Joyo Bank, Ltd. (The) 718,000 3,729,395 JSP Corp. 33,800 537,653 JSR Corp. 58,000 1,104,785 JTEKT Corp. 212,800 2,731,985 #* Juki Corp. 64,000 120,855 Juroku Bank, Ltd. (The) 575,000 2,251,282 * Justsystems Corp. 43,500 419,171 JVC Kenwood Corp. 248,770 487,270 JX Holdings, Inc. 1,286,070 6,359,188 # K's Holdings Corp. 65,720 1,929,726 Kabuki-Za Co., Ltd. 1,000 49,727 # Kadokawa Corp. 32,700 1,193,028 Kaga Electronics Co., Ltd. 34,900 351,144 # Kagome Co., Ltd. 43,300 751,370 Kagoshima Bank, Ltd. (The) 269,000 1,810,726 Kajima Corp. 693,000 2,941,302 Kakaku.com, Inc. 38,400 742,707 Kaken Pharmaceutical Co., Ltd. 43,000 671,516 Kakiyasu Honten Co., Ltd. 200 2,789 Kameda Seika Co., Ltd. 21,600 637,549 Kamei Corp. 44,500 331,358 Kamigumi Co., Ltd. 420,000 3,653,312 Kanaden Corp. 27,000 180,236 Kanagawa Chuo Kotsu Co., Ltd. 24,000 123,982 Kanamoto Co., Ltd. 43,000 1,161,487 Kandenko Co., Ltd. 196,000 1,238,480 # Kaneka Corp. 495,000 3,141,040 Kanematsu Corp. 734,000 995,644 Kanematsu Electronics, Ltd. 39,400 513,173 * Kansai Electric Power Co., Inc. (The) 182,100 2,304,843 # Kansai Paint Co., Ltd. 180,000 2,418,638 Kansai Super Market Ltd. 1,500 13,707 Kansai Urban Banking Corp. 291,000 346,819 #* Kanto Denka Kogyo Co., Ltd. 91,000 194,449 Kanto Natural Gas Development, Ltd. 42,000 296,118 Kao Corp. 49,000 1,631,875 Kasai Kogyo Co., Ltd. 46,000 279,088 Kasumi Co., Ltd. 76,000 468,911 Katakura Chikkarin Co., Ltd. 20,000 55,716 Katakura Industries Co., Ltd. 42,100 499,473 Kato Sangyo Co., Ltd. 37,400 767,745 Kato Works Co., Ltd. 100,128 686,501 KAWADA TECHNOLOGIES, Inc. 6,800 202,321 # Kawai Musical Instruments Manufacturing Co., Ltd. 155,000 292,389 Kawakin Holdings Co., Ltd. 10,000 28,500 # Kawasaki Heavy Industries, Ltd. 929,000 3,630,088 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- JAPAN -- (Continued) Kawasaki Kasei Chemicals, Ltd. 23,000 $ 30,217 Kawasaki Kinkai Kisen Kaisha, Ltd. 28,000 83,414 Kawasaki Kisen Kaisha, Ltd. 1,520,000 3,484,489 Kawasumi Laboratories, Inc. 24,200 157,339 # KDDI Corp. 67,100 3,633,901 Keihan Electric Railway Co., Ltd. 480,000 1,974,568 Keihanshin Building Co., Ltd. 41,700 230,444 # Keihin Co. Ltd/Minato-Ku Tokyo Japan 87,000 165,257 # Keihin Corp. 88,000 1,437,761 Keikyu Corp. 119,000 1,120,156 Keio Corp. 148,000 1,025,408 Keisei Electric Railway Co., Ltd. 166,000 1,714,303 Keiyo Bank, Ltd. (The) 400,000 2,037,091 # Keiyo Co., Ltd. 54,800 257,697 Kenko Mayonnaise Co., Ltd. 11,400 103,483 Kentucky Fried Chicken Japan, Ltd. 5,000 106,886 Kewpie Corp. 148,400 2,232,823 KEY Coffee, Inc. 34,500 546,384 Keyence Corp. 3,405 1,459,346 # Kikkoman Corp. 149,050 2,716,522 # Kimoto Co., Ltd. 34,900 395,720 # Kimura Chemical Plants Co., Ltd. 21,300 118,535 # Kinden Corp. 202,000 2,218,520 King Jim Co., Ltd. 3,500 24,579 Kinki Sharyo Co., Ltd. 45,000 137,561 # Kintetsu Corp. 502,000 1,847,440 Kintetsu World Express, Inc. 13,500 515,262 Kinugawa Rubber Industrial Co., Ltd. 85,000 469,146 Kirin Holdings Co., Ltd. 359,980 5,261,283 Kirindo Co., Ltd. 2,700 17,988 Kisoji Co., Ltd. 18,600 343,261 Kita-Nippon Bank, Ltd. (The) 11,300 278,131 Kitagawa Iron Works Co., Ltd. 177,000 371,671 Kitamura Co., Ltd. 900 5,583 Kitano Construction Corp. 89,000 210,385 Kito Corp. 15,100 238,106 Kitz Corp. 176,200 759,247 * Kiyo Bank Ltd (The) 105,900 1,407,620 #* KLab, Inc. 12,400 99,727 * KNT-CT Holdings Co., Ltd. 84,000 135,500 Koa Corp. 64,300 604,531 Koatsu Gas Kogyo Co., Ltd. 38,000 211,266 Kobayashi Pharmaceutical Co., Ltd. 15,200 851,064 * Kobe Steel, Ltd. 2,707,000 4,781,563 Kobelco Eco-Solutions Co., Ltd. 3,000 17,908 # Kohnan Shoji Co., Ltd. 58,900 619,570 Kohsoku Corp. 9,300 88,855 Koike Sanso Kogyo Co., Ltd. 40,000 93,432 # Koito Manufacturing Co., Ltd. 127,000 2,311,872 #* Kojima Co., Ltd. 49,400 137,236 Kokuyo Co., Ltd. 158,764 1,214,974 # KOMAIHALTEC, Inc. 65,000 215,777 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- JAPAN -- (Continued) Komatsu Seiren Co., Ltd. 47,000 $ 249,879 Komatsu Wall Industry Co., Ltd. 9,000 189,943 Komatsu, Ltd. 146,400 3,212,069 # Komeri Co., Ltd. 51,800 1,265,005 Konaka Co., Ltd. 39,880 355,849 # Konami Corp. 115,762 2,797,667 Konami Corp. ADR 19,770 478,236 Kondotec, Inc. 26,400 201,439 # Konica Minolta, Inc. 514,500 4,260,547 Konishi Co., Ltd. 28,300 570,368 * Kosaido Co., Ltd. 600 3,477 Kose Corp. 47,400 1,385,256 Koshidaka Holdings Co., Ltd. 1,200 42,267 Kotobuki Spirits Co., Ltd. 2,900 37,924 Krosaki Harima Corp. 103,000 255,268 KRS Corp. 11,500 125,936 KU Holdings Co., Ltd. 7,800 103,676 Kubota Corp. Sponsored ADR 44,682 3,306,021 #* Kumagai Gumi Co., Ltd. 285,000 877,087 # Kumiai Chemical Industry Co., Ltd. 79,000 586,423 Kura Corp. 16,000 259,377 Kurabo Industries, Ltd. 349,000 608,708 Kuraray Co., Ltd. 242,000 2,841,403 Kuraudia Co., Ltd. 1,200 13,518 Kureha Corp. 257,000 991,118 Kurimoto, Ltd. 200,000 570,008 # Kurita Water Industries, Ltd. 146,800 3,203,763 # Kuroda Electric Co., Ltd. 60,500 847,470 Kusuri No Aoki Co., Ltd. 3,300 206,097 KYB Co., Ltd. 278,000 1,609,713 Kyocera Corp. 75,730 3,932,700 Kyocera Corp. Sponsored ADR 57,800 3,060,510 Kyodo Printing Co., Ltd. 144,000 400,970 Kyodo Shiryo Co., Ltd. 129,000 147,204 Kyoei Sangyo Co., Ltd. 21,000 41,312 # Kyoei Steel, Ltd. 28,400 587,710 #* Kyoei Tanker Co., Ltd. 35,000 85,479 * Kyokuto Boeki Kaisha, Ltd. 16,000 34,590 Kyokuto Kaihatsu Kogyo Co., Ltd. 49,700 621,440 # Kyokuto Securities Co., Ltd. 29,400 514,653 Kyokuyo Co., Ltd. 175,000 477,259 KYORIN Holdings, Inc. 68,700 1,464,560 Kyoritsu Maintenance Co., Ltd. 15,940 613,518 Kyosan Electric Manufacturing Co., Ltd. 91,000 302,179 Kyoto Kimono Yuzen Co., Ltd. 12,900 135,562 Kyowa Exeo Corp. 149,600 1,776,428 Kyowa Hakko Kirin Co., Ltd. 245,000 2,706,018 Kyowa Leather Cloth Co., Ltd. 13,100 59,773 Kyudenko Corp. 71,000 427,130 * Kyushu Electric Power Co., Inc. 117,700 1,657,195 LAC Co., Ltd. 7,400 45,813 Land Business Co., Ltd. 10,200 45,348 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- JAPAN -- (Continued) # Lasertec Corp. 26,400 $ 272,736 Lawson, Inc. 11,800 946,288 LEC, Inc. 7,400 94,270 Life Corp. 14,100 234,570 Lintec Corp. 85,100 1,765,027 # Lion Corp. 222,000 1,332,346 # LIXIL Group Corp. 187,219 4,394,529 * Lonseal Corp. 23,000 29,344 Look, Inc. 55,000 166,309 M3, Inc. 168 460,081 Macnica, Inc. 19,200 520,571 Macromill, Inc. 15,600 98,141 Maeda Corp. 223,000 1,604,445 Maeda Road Construction Co., Ltd. 111,000 1,973,686 Maezawa Kasei Industries Co., Ltd. 11,000 117,017 Maezawa Kyuso Industries Co., Ltd. 16,100 210,190 # Makino Milling Machine Co., Ltd. 197,000 1,289,935 Makita Corp. 14,500 733,255 # Makita Corp. Sponsored ADR 12,696 646,226 Mamiya-Op Co., Ltd. 73,000 134,769 Mandom Corp. 23,200 796,475 # Marche Corp. 2,000 16,893 # Mars Engineering Corp. 18,600 355,639 Marubeni Corp. 564,359 4,418,618 Marubun Corp. 27,100 124,890 Marudai Food Co., Ltd. 199,000 625,851 #* Maruei Department Store Co., Ltd. 27,000 61,685 Maruetsu, Inc. (The) 60,000 199,048 Maruha Nichiro Holdings, Inc. 576,815 1,106,179 Marui Group Co., Ltd. 365,600 3,499,770 Maruka Machinery Co., Ltd. 7,200 107,561 Marusan Securities Co., Ltd. 115,900 955,254 # Maruwa Co. Ltd/Aichi 14,600 530,001 Maruyama Manufacturing Co., Inc. 70,000 193,015 * Maruzen CHI Holdings Co., Ltd. 6,400 18,587 Maruzen Showa Unyu Co., Ltd. 91,000 334,198 Marvelous AQL, Inc. 21,000 129,674 Matsuda Sangyo Co., Ltd. 25,662 359,405 Matsui Construction Co., Ltd. 27,000 114,874 # Matsui Securities Co., Ltd. 85,100 911,187 Matsumotokiyoshi Holdings Co., Ltd. 51,000 1,720,859 # Matsuya Foods Co., Ltd. 16,500 262,573 Max Co., Ltd. 64,000 719,324 Maxvalu Tokai Co., Ltd. 10,100 143,577 * Mazda Motor Corp. 2,344,000 10,551,527 # McDonald's Holdings Co. Japan, Ltd. 14,900 411,709 MEC Co., Ltd. 20,900 88,762 Medical System Network Co., Ltd. 8,000 36,585 Medipal Holdings Corp. 197,900 2,668,464 Megachips Corp. 35,100 575,115 # Megmilk Snow Brand Co., Ltd. 82,400 1,170,164 Meidensha Corp. 312,000 1,166,888 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- JAPAN -- (Continued) MEIJI Holdings Co., Ltd. 57,010 $ 3,186,952 Meiji Shipping Co., Ltd. 6,200 27,371 #* Meiko Electronics Co., Ltd. 17,600 133,871 # Meisei Electric Co., Ltd. 4,000 4,080 Meisei Industrial Co., Ltd. 73,000 313,487 Meitec Corp. 17,300 461,160 Meito Sangyo Co., Ltd. 12,900 135,802 Meito Transportation Co., Ltd. 1,300 8,568 # Meiwa Corp. 33,500 110,688 * Meiwa Estate Co., Ltd. 26,500 113,303 # Melco Holdings, Inc. 23,400 320,510 Mesco, Inc. 6,000 39,624 Message Co., Ltd. 7,400 208,878 Michinoku Bank, Ltd. (The) 179,000 372,074 Micronics Japan Co., Ltd. 7,700 51,468 Mie Bank, Ltd. (The) 150,000 305,534 Mikuni Corp. 9,000 28,606 Milbon Co., Ltd. 5,280 219,760 Mimasu Semiconductor Industry Co., Ltd. 33,900 297,082 Minato Bank, Ltd. (The) 319,000 556,286 # Minebea Co., Ltd. 561,000 3,105,672 Ministop Co., Ltd. 24,300 379,264 # Miraca Holdings, Inc. 24,500 1,103,921 # Miraial Co., Ltd. 10,800 175,186 Mirait Holdings Corp. 113,730 1,009,042 Miroku Jyoho Service Co., Ltd. 23,000 91,402 Misawa Homes Co., Ltd. 22,000 394,394 # MISUMI Group, Inc. 29,500 863,593 Mitani Corp. 14,900 321,833 Mito Securities Co., Ltd. 102,000 489,807 Mitsuba Corp. 71,000 1,059,629 Mitsubishi Chemical Holdings Corp. 1,391,500 6,513,954 Mitsubishi Corp. 796,200 16,107,965 Mitsubishi Electric Corp. 299,000 3,286,596 Mitsubishi Estate Co., Ltd. 75,073 2,145,557 # Mitsubishi Gas Chemical Co., Inc. 527,000 4,306,962 Mitsubishi Heavy Industries, Ltd. 1,177,000 7,480,150 * Mitsubishi Kakoki Kaisha, Ltd. 110,000 220,105 Mitsubishi Logistics Corp. 194,000 2,696,005 Mitsubishi Materials Corp. 1,112,200 4,351,388 #* Mitsubishi Motors Corp. 124,800 1,402,397 Mitsubishi Nichiyu Forklift Co., Ltd. 31,000 153,822 * Mitsubishi Paper Mills, Ltd. 678,000 614,807 Mitsubishi Pencil Co., Ltd. 34,600 902,959 Mitsubishi Research Institute, Inc. 600 13,030 Mitsubishi Shokuhin Co., Ltd. 17,500 490,123 Mitsubishi Steel Manufacturing Co., Ltd. 271,000 769,213 Mitsubishi Tanabe Pharma Corp. 223,500 3,152,179 Mitsubishi UFJ Financial Group, Inc. 5,724,200 36,453,212 # Mitsubishi UFJ Financial Group, Inc. ADR 1,847,677 11,825,133 Mitsuboshi Belting Co., Ltd. 88,000 453,641 Mitsui & Co., Ltd. 666,900 9,527,282 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- JAPAN -- (Continued) # Mitsui & Co., Ltd. Sponsored ADR 15,592 $ 4,459,312 # Mitsui Chemicals, Inc. 1,441,065 3,830,792 Mitsui Engineering & Shipbuilding Co., Ltd. 1,408,000 2,763,872 Mitsui Fudosan Co., Ltd. 178,000 5,896,410 Mitsui High-Tec, Inc. 43,200 306,088 Mitsui Home Co., Ltd. 50,000 251,906 Mitsui Knowledge Industry Co., Ltd. 88,700 139,070 Mitsui Matsushima Co., Ltd. 323,000 501,997 Mitsui Mining & Smelting Co., Ltd. 1,132,000 2,885,691 Mitsui OSK Lines, Ltd. 1,171,000 4,956,643 Mitsui Sugar Co., Ltd. 151,000 541,854 Mitsui-Soko Co., Ltd. 127,000 638,026 #* Mitsumi Electric Co., Ltd. 176,700 1,191,561 Mitsumura Printing Co., Ltd. 15,000 40,142 Mitsuuroko Holdings Co., Ltd. 37,300 179,626 Miura Co., Ltd. 44,200 1,159,376 #* Miyaji Engineering Group, Inc. 88,000 195,169 Miyazaki Bank, Ltd. (The) 308,000 893,914 Miyoshi Oil & Fat Co., Ltd. 119,000 191,811 Mizuho Financial Group, Inc. 12,919,560 27,118,957 # Mizuno Corp. 178,605 1,008,576 Mochida Pharmaceutical Co., Ltd. 13,999 886,050 Modec, Inc. 18,100 548,799 # Money Partners Group Co., Ltd. 23,100 65,095 Monogatari Corp. (The) 2,000 83,644 # MORESCO Corp. 3,900 62,785 Morinaga & Co., Ltd. 369,000 785,203 # Morinaga Milk Industry Co., Ltd. 363,000 1,131,852 Morita Holdings Corp. 62,000 545,382 Morozoff, Ltd. 48,000 152,865 Mory Industries, Inc. 45,000 189,497 # MOS Food Services, Inc. 28,200 546,757 Moshi Moshi Hotline, Inc. 43,300 544,264 Mr Max Corp. 35,900 122,509 MS&AD Insurance Group Holdings 273,374 7,068,729 # MTI, Ltd. 4,300 54,074 # Murata Manufacturing Co., Ltd. 43,900 3,523,846 Musashi Seimitsu Industry Co., Ltd. 30,500 719,716 Musashino Bank, Ltd. (The) 56,500 1,982,353 # Mutoh Holdings Co., Ltd. 67,000 289,892 Nabtesco Corp. 38,300 934,808 NAC Co., Ltd. 6,600 118,795 Nachi-Fujikoshi Corp. 277,000 1,359,966 Nafco Co., Ltd. 200 2,855 Nagaileben Co., Ltd. 17,200 283,838 Nagano Bank, Ltd. (The) 89,000 160,361 Nagano Keiki Co., Ltd. 1,700 11,838 Nagase & Co., Ltd. 192,200 2,394,177 Nagatanien Co., Ltd. 10,000 90,798 # Nagoya Railroad Co., Ltd. 620,000 1,800,027 Nakabayashi Co., Ltd. 59,000 128,719 Nakamuraya Co., Ltd. 41,000 169,096 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- JAPAN -- (Continued) Nakano Corp. 1,000 $ 2,559 * Nakayama Steel Works, Ltd. 165,000 189,114 Namco Bandai Holdings, Inc. 123,200 2,322,369 Namura Shipbuilding Co., Ltd. 43,500 629,892 # Nankai Electric Railway Co., Ltd. 347,000 1,296,243 Nanto Bank, Ltd. (The) 323,000 1,278,894 Natori Co., Ltd. 7,200 70,772 NDS Co., Ltd. 58,000 167,144 # NEC Capital Solutions, Ltd. 18,800 465,940 NEC Corp. 2,700,800 6,066,493 NEC Fielding, Ltd. 36,800 415,632 NEC Networks & System Integration Corp. 40,200 1,012,206 # NET One Systems Co., Ltd. 151,700 1,058,238 Neturen Co., Ltd. 59,400 523,923 #* New Japan Chemical Co., Ltd. 56,000 173,331 Nexon Co., Ltd. 26,600 310,890 # Next Co., Ltd. 6,100 185,686 # NGK Insulators, Ltd. 182,000 3,061,236 # NGK Spark Plug Co., Ltd. 194,000 4,430,586 NHK Spring Co., Ltd. 228,900 2,396,070 Nice Holdings, Inc. 106,000 275,589 Nichi-iko Pharmaceutical Co., Ltd. 10,600 264,266 Nichia Steel Works, Ltd. 53,000 193,858 # Nichias Corp. 170,000 1,150,133 Nichiban Co., Ltd. 38,000 148,543 Nichicon Corp. 103,700 1,086,035 Nichiden Corp. 9,100 214,512 Nichiha Corp. 38,100 546,752 Nichii Gakkan Co. 83,600 837,896 Nichimo Co., Ltd. 48,000 97,817 Nichirei Corp. 391,000 2,018,218 Nichireki Co., Ltd. 44,000 455,435 Nidec Copal Electronics Corp. 7,100 43,883 # Nidec Corp. 28,649 2,791,907 Nidec Corp. ADR 9,900 241,362 # Nifco, Inc. 71,000 1,892,060 NIFTY Corp. 16,300 212,488 # Nihon Chouzai Co., Ltd. 4,580 129,713 # Nihon Dempa Kogyo Co., Ltd. 33,100 308,144 Nihon Kagaku Sangyo Co., Ltd. 11,000 77,707 Nihon Kohden Corp. 28,800 1,186,174 # Nihon M&A Center, Inc. 5,800 447,328 Nihon Nohyaku Co., Ltd. 79,000 946,908 Nihon Parkerizing Co., Ltd. 68,000 1,328,384 Nihon Plast Co., Ltd. 2,900 16,745 Nihon Shokuhin Kako Co., Ltd. 7,000 26,729 # Nihon Trim Co., Ltd. 6,600 510,493 Nihon Unisys, Ltd. 82,500 735,721 Nihon Yamamura Glass Co., Ltd. 145,000 267,158 Nikkiso Co., Ltd. 78,000 964,973 Nikko Co., Ltd. 33,000 191,833 # Nikon Corp. 216,400 4,000,423 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- JAPAN -- (Continued) Nintendo Co., Ltd. 12,000 $ 1,349,444 Nippo Corp. 94,000 1,763,530 Nippon Beet Sugar Manufacturing Co., Ltd. 156,000 293,863 # Nippon Carbon Co., Ltd. 193,000 376,132 # Nippon Ceramic Co., Ltd. 8,800 128,406 * Nippon Chemi-Con Corp. 232,000 1,048,459 #* Nippon Chemical Industrial Co., Ltd. 205,000 345,195 Nippon Chemiphar Co., Ltd. 34,000 159,443 Nippon Chutetsukan KK 46,000 115,012 Nippon Coke & Engineering Co., Ltd. 375,000 475,187 #* Nippon Columbia Co., Ltd. 9,800 65,240 Nippon Concrete Industries Co., Ltd. 47,000 263,294 * Nippon Conveyor Co., Ltd. 57,000 88,494 Nippon Denko Co., Ltd. 188,000 547,509 Nippon Densetsu Kogyo Co., Ltd. 62,000 774,997 # Nippon Electric Glass Co., Ltd. 690,000 3,549,179 Nippon Express Co., Ltd. 830,000 4,167,884 Nippon Felt Co., Ltd. 15,100 67,634 Nippon Filcon Co., Ltd. 16,300 72,939 Nippon Fine Chemical Co., Ltd. 23,700 155,105 Nippon Flour Mills Co., Ltd. 221,000 1,066,085 Nippon Formula Feed Manufacturing Co., Ltd. 128,000 160,316 Nippon Gas Co., Ltd. 27,000 301,914 Nippon Hume Corp. 36,000 325,606 Nippon Jogesuido Sekkei Co., Ltd. 8,200 103,433 Nippon Kanzai Co., Ltd. 8,000 145,473 # Nippon Kasei Chemical Co., Ltd. 26,000 37,902 # Nippon Kayaku Co., Ltd. 181,000 2,537,611 * Nippon Kinzoku Co., Ltd. 87,000 120,712 Nippon Koei Co., Ltd. 117,000 550,408 Nippon Konpo Unyu Soko Co., Ltd. 102,200 1,781,530 #* Nippon Koshuha Steel Co., Ltd. 153,000 168,299 Nippon Light Metal Holdings Co., Ltd. 1,015,100 1,453,393 Nippon Meat Packers, Inc. 172,000 2,518,298 # Nippon Paint Co., Ltd. 191,000 3,212,556 # Nippon Paper Industries Co., Ltd. 171,202 2,727,930 Nippon Parking Development Co., Ltd. 143 11,085 Nippon Pillar Packing Co., Ltd. 35,000 240,106 Nippon Piston Ring Co., Ltd. 132,000 243,573 Nippon Rietec Co., Ltd. 3,000 21,873 Nippon Road Co., Ltd. (The) 129,000 803,419 Nippon Seiki Co., Ltd. 73,000 1,190,185 Nippon Seisen Co., Ltd. 36,000 164,514 # Nippon Sharyo, Ltd. 120,000 632,663 #* Nippon Sheet Glass Co., Ltd. 1,735,000 2,250,226 # Nippon Shinyaku Co., Ltd. 83,000 1,430,721 Nippon Shokubai Co., Ltd. 222,000 2,723,383 # Nippon Signal Co., Ltd. 94,400 717,917 Nippon Soda Co., Ltd. 269,000 1,648,005 Nippon Steel & Sumikin Bussan 262,000 796,751 Nippon Steel & Sumikin Texeng 74,000 301,667 Nippon Steel & Sumitomo Metal Corp. 4,092,540 13,507,642 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- JAPAN -- (Continued) * Nippon Suisan Kaisha, Ltd. 430,800 $ 878,701 Nippon Synthetic Chemical Industry Co., Ltd. (The) 78,000 752,020 Nippon Telegraph & Telephone Corp. 25,500 1,325,498 # Nippon Telegraph & Telephone Corp. ADR 71,400 1,863,540 Nippon Television Holdings, Inc. 50,900 932,418 Nippon Thompson Co., Ltd. 126,000 685,771 Nippon Tungsten Co., Ltd. 31,000 50,114 Nippon Valqua Industries, Ltd. 135,000 378,236 #* Nippon Yakin Kogyo Co., Ltd. 285,000 944,294 # Nippon Yusen KK 1,689,904 5,163,494 # Nipro Corp. 199,600 1,829,121 * NIS Group Co., Ltd. ADR 30,800 216 Nishi-Nippon City Bank, Ltd. (The) 1,207,000 3,261,021 Nishi-Nippon Railroad Co., Ltd. 286,000 1,095,639 Nishimatsu Construction Co., Ltd. 446,000 1,574,555 Nishimatsuya Chain Co., Ltd. 91,900 681,383 Nishio Rent All Co., Ltd. 19,700 533,174 Nissan Chemical Industries, Ltd. 148,700 2,337,707 Nissan Motor Co., Ltd. 1,017,600 10,217,983 Nissan Shatai Co., Ltd. 104,000 1,793,069 Nissan Tokyo Sales Holdings Co., Ltd. 36,000 106,834 # Nissei ASB Machine Co., Ltd. 3,600 76,224 Nissei Corp. 7,200 65,998 Nissei Plastic Industrial Co., Ltd. 20,700 135,056 Nissen Holdings Co., Ltd. 46,800 151,097 #* Nissha Printing Co., Ltd. 20,300 331,747 Nisshin Fudosan Co. 28,100 224,161 # Nisshin Oillio Group, Ltd. (The) 223,000 749,309 # Nisshin Seifun Group, Inc. 374,869 4,064,113 Nisshin Steel Holdings Co., Ltd. 117,374 1,565,057 Nisshinbo Holdings, Inc. 271,000 2,393,543 Nissin Corp. 100,000 293,307 Nissin Electric Co., Ltd. 78,000 496,177 # Nissin Foods Holdings Co., Ltd. 21,475 919,215 # Nissin Kogyo Co., Ltd. 61,200 1,144,787 Nissin Sugar Co., Ltd. 4,900 103,000 Nissui Pharmaceutical Co., Ltd. 18,200 201,094 Nitori Holdings Co., Ltd. 9,500 891,154 Nitta Corp. 33,400 703,490 Nittan Valve Co., Ltd. 27,500 88,794 Nittetsu Mining Co., Ltd. 115,000 659,889 # Nitto Boseki Co., Ltd. 286,000 1,329,769 # Nitto Denko Corp. 41,800 2,192,031 Nitto FC Co., Ltd. 5,100 30,913 Nitto Kogyo Corp. 41,100 649,813 Nitto Kohki Co., Ltd. 18,300 345,789 Nitto Seiko Co., Ltd. 39,000 144,339 Nittoc Construction Co., Ltd. 59,549 260,043 # Nittoku Engineering Co., Ltd. 29,800 264,750 NKSJ Holdings, Inc. 293,400 7,594,710 Noevir Holdings Co., Ltd. 22,100 359,038 NOF Corp. 250,000 1,738,351 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- JAPAN -- (Continued) Nohmi Bosai, Ltd. 38,000 $ 383,779 NOK Corp. 174,300 2,694,383 # Nomura Co., Ltd. 62,000 562,065 Nomura Holdings, Inc. 1,462,300 10,802,059 Nomura Holdings, Inc. ADR 402,117 2,959,581 Nomura Real Estate Holdings, Inc. 94,600 2,393,515 # Nomura Research Institute, Ltd. 18,500 620,902 Noritake Co., Ltd/Nagoya 225,000 611,803 Noritsu Koki Co., Ltd. 21,300 141,499 Noritz Corp. 51,900 1,202,993 North Pacific Bank, Ltd. 449,300 1,961,787 NS Solutions Corp. 28,500 649,828 #* NS United Kaiun Kaisha, Ltd. 237,000 718,791 NSD Co., Ltd. 64,100 783,979 NSK, Ltd. 316,000 3,375,616 #* NTN Corp. 781,000 3,754,147 # NTT Data Corp. 46,300 1,539,228 NTT DOCOMO, Inc. 549,500 8,717,831 # NTT DOCOMO, Inc. Sponsored ADR 44,600 707,802 Nuflare Technology, Inc. 2,600 348,089 Obara Group, Inc. 15,900 402,208 Obayashi Corp. 611,000 3,914,746 Obayashi Road Corp. 44,000 258,258 OBIC Business Consultants, Ltd. 11,000 379,858 # Obic Co., Ltd. 66,400 2,085,136 # Odakyu Electric Railway Co., Ltd. 164,000 1,582,729 Odelic Co., Ltd. 2,600 81,863 Oenon Holdings, Inc. 102,000 265,238 Ogaki Kyoritsu Bank, Ltd. (The) 533,000 1,501,360 * Ohara, Inc. 15,100 93,935 Ohashi Technica, Inc. 4,700 40,823 # Ohsho Food Service Corp. 9,400 307,822 OIE Sangyo Co., Ltd. 1,200 10,089 # Oiles Corp. 42,168 942,156 Oita Bank, Ltd. (The) 294,000 1,078,463 Oji Holdings Corp. 853,000 3,898,234 Okabe Co., Ltd. 60,500 810,014 Okamoto Industries, Inc. 111,000 353,952 * Okamoto Machine Tool Works, Ltd. 47,000 59,947 Okamura Corp. 122,000 881,708 # Okasan Securities Group, Inc. 178,000 1,539,213 Okaya Electric Industries Co., Ltd. 6,700 23,261 * OKI Electric Cable Co., Ltd. 12,000 20,636 Okinawa Cellular Telephone Co. 600 14,760 Okinawa Electric Power Co., Inc. (The) 20,180 701,229 OKK Corp. 153,000 223,317 OKUMA Corp. 229,000 1,934,436 Okumura Corp. 331,000 1,571,641 Okura Industrial Co., Ltd. 71,000 251,535 Okuwa Co., Ltd. 30,000 271,379 Olympic Group Corp. 18,200 134,939 * Olympus Corp. 37,300 1,193,279 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- JAPAN -- (Continued) # Omron Corp. 68,100 $2,598,778 ONO Sokki Co., Ltd. 27,000 119,781 Onoken Co., Ltd. 19,100 229,703 # Onward Holdings Co., Ltd. 253,000 2,094,024 OPT, Inc. 1,000 8,682 Optex Co., Ltd. 18,300 300,859 Oracle Corp. Japan 8,100 319,818 Organo Corp. 70,000 339,334 Oriental Land Co., Ltd. 5,200 832,661 # Origin Electric Co., Ltd. 47,000 158,092 Osaka Gas Co., Ltd. 500,000 2,106,038 Osaka Organic Chemical Industry, Ltd. 16,800 76,911 Osaka Steel Co., Ltd. 20,100 384,634 # OSAKA Titanium Technologies Co. 19,200 419,024 # Osaki Electric Co., Ltd. 52,000 342,818 OSG Corp. 51,200 828,244 Otsuka Corp. 6,400 830,101 Otsuka Kagu, Ltd. 2,500 28,199 Oyo Corp. 36,500 602,955 Pacific Industrial Co., Ltd. 79,000 565,604 # Pacific Metals Co., Ltd. 249,000 912,459 Pack Corp. (The) 21,700 416,020 Pal Co., Ltd. 15,800 441,524 # Paltac Corp. 61,458 826,980 PanaHome Corp. 168,000 1,136,505 Panasonic Corp. 868,100 8,897,469 Panasonic Corp. Sponsored ADR 204,353 2,129,358 Panasonic Industrial Devices SUNX Co., Ltd. 39,400 181,036 Panasonic Information Systems 1,800 47,680 Paramount Bed Holdings Co., Ltd. 2,300 79,504 # Parco Co., Ltd. 38,100 391,706 Paris Miki Holdings, Inc. 44,400 207,473 # Park24 Co., Ltd. 45,500 888,367 Pasco Corp. 29,000 120,499 Pasona Group, Inc. 292 228,795 Penta-Ocean Construction Co., Ltd. 487,500 1,473,931 PIA Corp. 1,500 26,763 Pigeon Corp. 17,200 887,403 Pilot Corp. 16,500 626,641 Piolax, Inc. 15,800 544,697 #* Pioneer Corp. 527,600 971,209 Plenus Co., Ltd. 36,100 818,878 Pola Orbis Holdings, Inc. 32,800 1,111,322 # Poplar Co., Ltd. 3,500 19,371 Press Kogyo Co., Ltd. 212,000 929,961 Pressance Corp. 5,300 169,710 Prestige International, Inc. 800 7,511 Prima Meat Packers, Ltd. 219,000 464,320 Pronexus, Inc. 30,900 200,723 Proto Corp. 15,600 228,216 # PS Mitsubishi Construction Co., Ltd. 41,600 220,961 Qol Co., Ltd. 12,300 78,402 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- JAPAN -- (Continued) Raito Kogyo Co., Ltd. 96,800 $ 803,671 Rakuten, Inc. 64,200 836,503 #* Rasa Industries, Ltd. 127,000 279,272 Relo Holdings, Inc. 4,200 194,727 Renaissance, Inc. 6,600 49,975 #* Renesas Electronics Corp. 48,500 280,113 Rengo Co., Ltd. 409,710 2,191,316 * Renown, Inc. 86,300 116,942 Resona Holdings, Inc. 984,500 5,121,103 Resorttrust, Inc. 45,400 1,729,417 Rheon Automatic Machinery Co., Ltd. 7,000 20,414 Rhythm Watch Co., Ltd. 174,000 257,200 Riberesute Corp. 81 54,482 Ricoh Co., Ltd. 721,619 7,620,877 Ricoh Leasing Co., Ltd. 31,800 910,564 Right On Co., Ltd. 24,400 209,502 Riken Corp. 183,000 800,885 Riken Keiki Co., Ltd. 21,000 160,887 Riken Technos Corp. 62,000 278,003 Riken Vitamin Co., Ltd. 12,600 314,252 # Rinnai Corp. 10,300 797,220 # Rion Co., Ltd. 5,400 81,813 Riso Kagaku Corp. 32,079 714,603 # Riso Kyoiku Co., Ltd. 8,750 59,084 Rock Field Co., Ltd. 16,400 314,644 # Rohm Co., Ltd. 100,400 4,121,184 # Rohto Pharmaceutical Co., Ltd. 102,000 1,480,254 Rokko Butter Co., Ltd. 1,800 15,212 # Roland DG Corp. 9,200 263,747 Round One Corp. 143,400 760,811 # Royal Holdings Co., Ltd. 44,800 718,709 Ryobi, Ltd. 240,000 1,060,692 Ryoden Trading Co., Ltd. 56,000 382,977 Ryohin Keikaku Co., Ltd. 14,675 1,463,914 Ryosan Co., Ltd. 59,600 1,153,991 S Foods, Inc. 26,500 266,201 Sagami Chain Co., Ltd. 20,000 179,310 Saibu Gas Co., Ltd. 263,000 653,872 Saizeriya Co., Ltd. 52,100 644,000 Sakai Chemical Industry Co., Ltd. 174,000 576,356 Sakai Heavy Industries, Ltd. 63,000 259,905 Sakai Moving Service Co., Ltd. 1,900 59,584 Sakai Ovex Co., Ltd. 75,000 113,832 Sakata INX Corp. 77,000 730,821 Sakata Seed Corp. 65,600 895,397 Sala Corp. 56,500 305,624 San Holdings, Inc. 1,800 25,611 San-A Co., Ltd. 28,800 820,800 San-Ai Oil Co., Ltd. 95,000 410,288 San-In Godo Bank, Ltd. (The) 273,000 1,981,878 Sanden Corp. 189,000 764,706 Sanei Architecture Planning Co., Ltd. 5,900 49,543 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- JAPAN -- (Continued) Sangetsu Co., Ltd. 45,100 $1,197,011 #* Sanix, Inc. 22,200 240,263 Sanken Electric Co., Ltd. 146,000 805,709 Sanki Engineering Co., Ltd. 108,000 674,318 # Sanko Marketing Foods Co., Ltd. 108 105,588 Sanko Metal Industrial Co., Ltd. 38,000 106,455 Sankyo Co., Ltd. 45,600 2,168,687 Sankyo Seiko Co., Ltd. 54,900 186,789 Sankyo Tateyama, Inc. 47,800 1,010,139 Sankyu, Inc. 510,000 1,825,514 Sanoh Industrial Co., Ltd. 47,100 338,594 # Sanrio Co., Ltd. 11,500 631,946 Sanshin Electronics Co., Ltd. 43,700 285,287 Santen Pharmaceutical Co., Ltd. 14,600 741,179 Sanwa Holdings Corp. 293,000 1,877,786 Sanyo Chemical Industries, Ltd. 127,000 874,034 Sanyo Denki Co., Ltd. 68,000 444,437 Sanyo Housing Nagoya Co., Ltd. 17,200 199,846 Sanyo Industries, Ltd. 15,000 28,426 Sanyo Shokai, Ltd. 204,000 562,932 Sanyo Special Steel Co., Ltd. 214,000 1,154,018 Sapporo Holdings, Ltd. 573,000 2,547,959 * Sasebo Heavy Industries Co., Ltd. 264,000 274,978 # Sata Construction Co., Ltd. 109,000 175,590 # Sato Holdings Corp. 37,900 768,858 Sato Shoji Corp. 19,700 120,599 Satori Electric Co., Ltd. 20,500 123,856 # Sawada Holdings Co., Ltd. 11,400 107,056 # Sawai Pharmaceutical Co., Ltd. 10,000 731,033 Saxa Holdings, Inc. 86,000 138,808 SBI Holdings, Inc. 369,280 4,468,967 SBS Holdings, Inc. 1,100 16,239 Scroll Corp. 41,800 118,731 SCSK Corp. 50,959 1,291,816 Secom Co., Ltd. 27,400 1,650,642 Secom Joshinetsu Co., Ltd. 1,500 37,102 Sega Sammy Holdings, Inc. 54,612 1,400,008 Seibu Electric Industry Co., Ltd. 16,000 71,083 Seika Corp. 84,000 204,673 Seikagaku Corp. 37,700 489,111 #* Seikitokyu Kogyo Co., Ltd. 180,000 259,257 Seiko Epson Corp. 215,600 3,519,363 Seiko Holdings Corp. 160,000 720,182 Seiko PMC Corp. 2,100 10,294 Seino Holdings Co., Ltd. 268,000 2,646,833 Seiren Co., Ltd. 87,000 555,190 Sekisui Chemical Co., Ltd. 302,000 3,508,784 Sekisui House, Ltd. 475,000 6,818,077 Sekisui Jushi Corp. 54,000 786,206 Sekisui Plastics Co., Ltd. 76,000 214,886 # Senko Co., Ltd. 152,000 819,768 # Senshu Electric Co., Ltd. 9,500 116,133 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- JAPAN -- (Continued) Senshu Ikeda Holdings, Inc. 227,360 $1,119,942 Senshukai Co., Ltd. 64,400 557,539 # Septeni Holdings Co., Ltd. 20,600 183,680 # Seria Co., Ltd. 4,700 156,961 Seven & I Holdings Co., Ltd. 183,152 6,778,206 #* Sharp Corp. 836,000 2,472,970 * Shibaura Mechatronics Corp. 55,000 137,174 Shibusawa Warehouse Co., Ltd. (The) 80,000 341,416 Shibuya Kogyo Co., Ltd. 7,300 138,210 Shidax Corp. 17,900 90,354 Shiga Bank, Ltd. (The) 358,000 1,956,598 Shikibo, Ltd. 256,000 342,249 Shikoku Bank, Ltd. (The) 232,000 537,334 Shikoku Chemicals Corp. 72,000 524,182 #* Shikoku Electric Power Co., Inc. 99,300 1,772,421 Shima Seiki Manufacturing, Ltd. 49,800 1,021,692 Shimachu Co., Ltd. 91,200 2,214,694 # Shimadzu Corp. 323,000 3,162,939 Shimamura Co., Ltd. 11,100 1,247,852 Shimano, Inc. 9,400 822,726 Shimizu Bank, Ltd. (The) 11,900 334,668 Shimizu Corp. 934,000 4,789,949 Shimojima Co., Ltd. 1,500 14,589 Shin Nippon Air Technologies Co., Ltd. 22,400 140,649 Shin-Etsu Chemical Co., Ltd. 67,700 3,827,896 Shin-Etsu Polymer Co., Ltd. 82,100 288,781 Shin-Keisei Electric Railway Co., Ltd. 26,000 100,055 Shinagawa Refractories Co., Ltd. 88,000 192,057 Shindengen Electric Manufacturing Co., Ltd. 119,000 765,726 Shinko Electric Industries Co., Ltd. 120,400 1,073,346 Shinko Plantech Co., Ltd. 87,600 707,261 Shinko Shoji Co., Ltd. 36,200 309,811 Shinko Wire Co., Ltd. 47,000 94,256 Shinmaywa Industries, Ltd. 163,000 1,277,095 Shinnihon Corp. 42,600 148,373 Shinsei Bank, Ltd. 1,760,000 4,120,698 Shinsho Corp. 94,000 194,823 Shinwa Co. Ltd/Nagoya 5,000 58,100 Shionogi & Co., Ltd. 138,300 3,060,376 Ship Healthcare Holdings, Inc. 34,000 1,395,167 Shiroki Corp. 85,000 190,661 # Shiseido Co., Ltd. 100,000 1,710,699 Shizuki Electric Co., Inc. 24,000 93,090 Shizuoka Bank, Ltd. (The) 563,000 6,334,530 Shizuoka Gas Co., Ltd. 94,300 624,500 Shobunsha Publications, Inc. 17,200 107,889 Shoko Co., Ltd. 139,000 223,766 # Showa Aircraft Industry Co., Ltd. 25,000 289,553 Showa Corp. 85,700 1,189,456 # Showa Denko KK 2,774,000 3,761,392 Showa Sangyo Co., Ltd. 108,000 333,852 Showa Shell Sekiyu KK 319,600 3,435,980 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- JAPAN -- (Continued) Siix Corp. 30,000 $ 366,106 Sinanen Co., Ltd. 93,000 362,739 Sinfonia Technology Co., Ltd. 161,000 285,461 Sinko Industries, Ltd. 17,600 144,990 Sintokogio, Ltd. 92,800 698,301 SKY Perfect JSAT Holdings, Inc. 319,900 1,847,230 SMC Corp. 5,100 1,187,373 SMK Corp. 103,000 495,525 SNT Corp. 29,300 112,079 Soda Nikka Co., Ltd. 13,000 54,904 # Sodick Co., Ltd. 92,100 430,515 Soft99 Corp. 10,600 74,911 # Softbank Corp. 114,832 8,575,494 Softbank Technology Corp. 3,900 69,757 Sogo Medical Co., Ltd. 7,600 288,963 Sohgo Security Services Co., Ltd. 100,300 2,027,567 Sojitz Corp. 2,235,000 4,339,903 # Sony Corp. 226,800 3,956,455 Sony Corp. Sponsored ADR 355,389 6,130,460 # Sony Financial Holdings, Inc. 114,400 2,136,143 Soshin Electric Co., Ltd. 7,200 27,054 Sotetsu Holdings, Inc. 286,000 1,063,818 Sotoh Co., Ltd. 6,300 58,015 Space Co., Ltd. 10,300 95,940 SPK Corp. 5,700 102,444 Square Enix Holdings Co., Ltd. 113,500 1,829,246 SRA Holdings 15,500 173,356 ST Corp. 14,600 148,432 St Marc Holdings Co., Ltd. 11,000 566,188 Stanley Electric Co., Ltd. 122,300 2,844,822 Star Micronics Co., Ltd. 62,000 667,170 Start Today Co., Ltd. 20,100 560,389 Starts Corp., Inc. 14,000 139,860 Starzen Co., Ltd. 95,000 262,854 Stella Chemifa Corp. 19,200 354,822 Step Co., Ltd. 5,400 46,477 # Studio Alice Co., Ltd. 14,100 182,248 Sugi Holdings Co., Ltd. 12,300 514,441 Sugimoto & Co., Ltd. 10,300 94,587 # Sumco Corp. 129,860 1,180,010 Sumida Corp. 19,700 93,958 Suminoe Textile Co., Ltd. 84,000 248,645 Sumitomo Bakelite Co., Ltd. 373,000 1,344,984 # Sumitomo Chemical Co., Ltd. 1,286,000 4,709,821 Sumitomo Corp. 634,300 8,254,335 Sumitomo Densetsu Co., Ltd. 28,900 426,845 Sumitomo Electric Industries, Ltd. 586,500 8,788,312 Sumitomo Forestry Co., Ltd. 206,200 2,398,915 Sumitomo Heavy Industries, Ltd. 969,480 4,290,856 Sumitomo Metal Mining Co., Ltd. 555,000 7,687,078 #* Sumitomo Mitsui Construction Co., Ltd. 152,200 198,828 # Sumitomo Mitsui Financial Group, Inc. 704,570 34,056,003 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- JAPAN -- (Continued) # Sumitomo Mitsui Trust Holdings, Inc. 1,666,730 $8,232,123 Sumitomo Osaka Cement Co., Ltd. 708,000 2,856,625 Sumitomo Precision Products Co., Ltd. 65,000 281,157 # Sumitomo Real Estate Sales Co., Ltd. 15,680 513,362 Sumitomo Realty & Development Co., Ltd. 36,000 1,703,392 Sumitomo Rubber Industries, Ltd. 110,200 1,534,148 # Sumitomo Seika Chemicals Co., Ltd. 85,000 543,895 Sumitomo Warehouse Co., Ltd. (The) 254,000 1,489,674 Sun-Wa Technos Corp. 5,700 53,090 Suncall Corp. 6,000 34,532 Sundrug Co., Ltd. 8,800 438,672 Suruga Bank, Ltd. 232,000 3,680,286 Suzuken Co. Ltd/Aichi Japan 116,200 4,195,950 # Suzuki Motor Corp. 141,700 3,563,099 * SWCC Showa Holdings Co., Ltd. 470,000 536,228 # Sysmex Corp. 13,300 881,034 Systena Corp. 28,200 205,812 T Hasegawa Co., Ltd. 23,600 334,055 T RAD Co., Ltd. 109,000 345,574 T&D Holdings, Inc. 605,210 7,265,989 T&K Toka Co., Ltd. 13,900 295,714 Tachi-S Co., Ltd. 46,800 746,959 Tachibana Eletech Co., Ltd. 18,400 210,824 * Tact Home Co., Ltd. 181 438,096 Tadano, Ltd. 149,421 2,054,728 Taihei Dengyo Kaisha, Ltd. 47,000 330,958 # Taiheiyo Cement Corp. 595,000 2,523,522 Taiheiyo Kouhatsu, Inc. 125,000 139,065 Taiho Kogyo Co., Ltd. 31,300 393,884 Taikisha, Ltd. 42,000 976,284 Taiko Bank, Ltd. (The) 27,000 60,090 Taisei Corp. 1,053,399 5,404,230 Taisei Lamick Co., Ltd. 5,700 144,894 Taiyo Holdings Co., Ltd. 5,900 178,189 # Taiyo Nippon Sanso Corp. 338,000 2,317,787 # Taiyo Yuden Co., Ltd. 177,500 2,275,180 Taka-Q, Ltd. 13,500 44,423 Takagi Securities Co., Ltd. 63,000 242,623 Takamatsu Construction Group Co., Ltd. 25,700 481,149 Takano Co., Ltd. 14,200 69,817 # Takaoka Toko Holdings Co., Ltd. 17,174 348,807 Takara Holdings, Inc. 212,000 1,944,103 # Takara Leben Co., Ltd. 110,300 435,297 Takara Standard Co., Ltd. 168,895 1,358,895 Takasago International Corp. 127,000 706,069 Takasago Thermal Engineering Co., Ltd. 115,900 968,596 # Takashima & Co., Ltd. 67,000 189,122 Takashimaya Co., Ltd. 497,000 4,741,901 # Takata Corp. 56,300 1,419,989 # Take And Give Needs Co., Ltd. 14,340 293,790 Takeda Pharmaceutical Co., Ltd. 131,300 6,257,042 Takeei Corp. 16,800 264,339 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- JAPAN -- (Continued) # Takeuchi Manufacturing Co., Ltd. 20,800 $ 438,739 Takihyo Co., Ltd. 5,000 20,605 Takiron Co., Ltd. 72,000 306,380 Takisawa Machine Tool Co., Ltd. 108,000 161,016 # Takuma Co., Ltd. 112,000 954,634 # Tamron Co., Ltd. 31,300 667,853 Tamura Corp. 168,000 441,863 # Tanseisha Co., Ltd. 29,000 196,045 Tatsuta Electric Wire and Cable Co., Ltd. 72,700 513,310 Tayca Corp. 39,000 118,407 Tbk Co., Ltd. 37,000 205,269 TDK Corp. 87,400 3,714,510 # TDK Corp. Sponsored ADR 48,131 2,040,754 #* Teac Corp. 26,000 16,719 TECHNO ASSOCIE Co., Ltd. 3,000 30,883 Techno Ryowa, Ltd. 8,870 41,145 Teijin, Ltd. 1,693,750 3,803,272 Teikoku Electric Manufacturing Co., Ltd. 8,800 207,157 Teikoku Sen-I Co., Ltd. 35,000 321,662 Teikoku Tsushin Kogyo Co., Ltd. 70,000 125,546 #* Tekken Corp. 189,000 618,030 # Terumo Corp. 23,600 1,142,964 # THK Co., Ltd. 162,600 3,549,293 Tigers Polymer Corp. 6,700 29,169 # Titan Kogyo KK 8,000 20,443 TKC Corp. 30,900 513,070 Toa Corp.(6894434) 33,000 279,685 * Toa Corp.(6894508) 332,000 806,803 Toa Oil Co., Ltd. 113,000 211,905 TOA ROAD Corp. 79,000 431,174 # Toabo Corp. 136,000 110,995 Toagosei Co., Ltd. 391,500 1,775,336 #* Tobishima Corp. 116,300 220,787 # Tobu Railway Co., Ltd. 268,000 1,389,275 Tobu Store Co., Ltd. 30,000 78,797 TOC Co., Ltd. 98,500 800,209 Tocalo Co., Ltd. 25,700 420,772 Tochigi Bank, Ltd. (The) 184,000 703,613 Toda Corp. 366,000 1,338,034 # Toda Kogyo Corp. 63,000 192,099 Toei Animation Co., Ltd. 4,100 107,609 Toei Co., Ltd. 140,000 842,022 Toenec Corp. 62,000 386,724 Toho Bank, Ltd. (The) 386,000 1,211,777 Toho Co. Ltd/Kobe 45,000 162,552 Toho Co., Ltd. 73,800 1,581,375 # Toho Gas Co., Ltd. 271,000 1,413,119 # Toho Holdings Co., Ltd. 89,000 1,723,074 # Toho Titanium Co., Ltd. 59,300 471,281 Toho Zinc Co., Ltd. 241,000 726,322 Tohoku Bank, Ltd. (The) 161,000 239,764 * Tohoku Electric Power Co., Inc. 118,200 1,430,715 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- JAPAN -- (Continued) Tohokushinsha Film Corp. 1,000 $ 9,792 Tohto Suisan Co., Ltd. 61,000 133,148 Tokai Carbon Co., Ltd. 367,000 1,261,742 Tokai Corp/Gifu 12,500 332,254 TOKAI Holdings Corp. 124,100 439,521 Tokai Lease Co., Ltd. 40,000 72,969 Tokai Rika Co., Ltd. 95,900 2,033,574 Tokai Rubber Industries, Ltd. 70,400 648,067 Tokai Tokyo Financial Holdings, Inc. 328,000 2,751,231 Token Corp. 12,370 657,074 # Tokio Marine Holdings, Inc. 273,212 8,957,105 # Tokio Marine Holdings, Inc. ADR 63,004 2,069,681 Tokushu Tokai Paper Co., Ltd. 148,380 305,171 Tokuyama Corp. 644,000 2,490,998 Tokyo Broadcasting System Holdings, Inc. 69,600 917,068 # Tokyo Derica Co., Ltd. 8,000 126,838 Tokyo Dome Corp. 242,000 1,664,257 #* Tokyo Electric Power Co., Inc. 390,512 2,084,123 # Tokyo Electron Device, Ltd. 9,600 149,516 # Tokyo Electron, Ltd. 129,800 7,122,467 Tokyo Energy & Systems, Inc. 39,000 207,527 # Tokyo Gas Co., Ltd. 294,000 1,595,250 # Tokyo Keiki, Inc. 104,000 322,379 #* Tokyo Kikai Seisakusho, Ltd. 103,000 125,397 Tokyo Rakutenchi Co., Ltd. 38,000 190,429 #* Tokyo Rope Manufacturing Co., Ltd. 200,000 349,104 Tokyo Sangyo Co., Ltd. 24,500 83,879 Tokyo Seimitsu Co., Ltd. 66,600 1,271,669 #* Tokyo Steel Manufacturing Co., Ltd. 191,900 1,031,163 Tokyo Tatemono Co., Ltd. 628,000 5,895,663 Tokyo Tekko Co., Ltd. 76,000 326,686 Tokyo Theatres Co., Inc. 130,000 217,669 Tokyo Tomin Bank, Ltd. (The) 62,900 674,013 #* Tokyu Construction Co., Ltd. 139,200 817,957 Tokyu Corp. 290,000 1,974,920 * Tokyu Fudosan Holdings Corp. 586,294 5,759,789 Tokyu Recreation Co., Ltd. 22,819 133,416 Toli Corp. 66,000 138,802 Tomato Bank, Ltd. 126,000 221,936 Tomen Devices Corp. 3,000 51,405 Tomen Electronics Corp. 18,200 206,520 # Tomoe Corp. 44,100 225,557 # Tomoe Engineering Co., Ltd. 10,000 159,240 Tomoegawa Co., Ltd. 17,000 30,683 Tomoku Co., Ltd. 94,000 300,065 TOMONY Holdings, Inc. 267,100 1,008,973 Tomy Co., Ltd. 120,400 620,483 Tonami Holdings Co., Ltd. 88,000 192,034 TonenGeneral Sekiyu KK 77,000 715,287 Toppan Forms Co., Ltd. 100,400 936,390 # Toppan Printing Co., Ltd. 565,000 4,462,572 Topre Corp. 66,100 927,446 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- JAPAN -- (Continued) Topy Industries, Ltd. 337,000 $ 738,670 # Toray Industries, Inc. 325,000 2,030,839 # Toridoll.corp 15,700 147,822 Torigoe Co., Ltd. (The) 12,500 84,606 # Torishima Pump Manufacturing Co., Ltd. 37,200 331,179 Tose Co., Ltd. 3,800 26,527 # Tosei Corp. 58,300 467,970 Toshiba Corp. 664,000 2,822,176 Toshiba Machine Co., Ltd. 219,000 1,132,650 Toshiba Plant Systems & Services Corp. 68,000 1,199,816 Toshiba TEC Corp. 223,000 1,373,508 # Tosho Printing Co., Ltd. 75,000 200,978 # Tosoh Corp. 881,000 3,371,294 Totetsu Kogyo Co., Ltd. 37,000 833,322 # TOTO, Ltd. 133,000 1,880,919 Tottori Bank, Ltd. (The) 69,000 132,800 * Touei Housing Corp. 23,700 614,855 Toukei Computer Co., Ltd. 3,200 47,077 Towa Bank, Ltd. (The) 559,000 511,253 Towa Corp. 30,200 173,720 Towa Pharmaceutical Co., Ltd. 23,400 1,170,839 # Toyo Construction Co., Ltd. 110,200 389,370 # Toyo Corp. 43,200 481,920 # Toyo Denki Seizo - Toyo Electric Manufacturing Co., Ltd. 58,000 189,368 Toyo Engineering Corp. 201,000 856,454 Toyo Ink SC Holdings Co., Ltd. 344,000 1,753,686 # Toyo Kanetsu KK 218,000 641,112 Toyo Kohan Co., Ltd. 85,000 386,670 Toyo Machinery & Metal Co., Ltd. 1,700 6,728 Toyo Securities Co., Ltd. 120,000 411,036 Toyo Seikan Group Holdings, Ltd. 242,600 5,041,941 Toyo Sugar Refining Co., Ltd. 29,000 30,437 # Toyo Suisan Kaisha, Ltd. 43,000 1,367,529 # Toyo Tanso Co., Ltd. 18,800 356,297 Toyo Tire & Rubber Co., Ltd. 336,000 1,963,216 # Toyo Wharf & Warehouse Co., Ltd. 95,000 257,421 Toyobo Co., Ltd. 1,498,000 2,878,617 Toyoda Gosei Co., Ltd. 87,900 2,197,900 Toyota Boshoku Corp. 86,800 1,162,610 Toyota Motor Corp. 150,786 9,776,687 # Toyota Motor Corp. Sponsored ADR 360,892 46,706,643 Toyota Tsusho Corp. 172,025 4,778,337 TPR Co., Ltd. 34,000 646,228 Trancom Co., Ltd. 8,700 272,217 Transcosmos, Inc. 40,000 692,132 Trend Micro, Inc. 9,800 364,503 #* Trend Micro, Inc. Sponsored ADR 3,540 132,042 Trinity Industrial Corp. 3,000 12,829 Trusco Nakayama Corp. 34,761 740,074 TS Tech Co., Ltd. 69,200 2,592,602 TSI Holdings Co., Ltd. 167,790 1,185,991 Tsubakimoto Chain Co. 226,000 1,497,227 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- JAPAN -- (Continued) Tsubakimoto Kogyo Co., Ltd. 24,000 $ 64,762 Tsuchiya Holdings Co., Ltd. 1,200 6,568 #* Tsudakoma Corp. 78,000 127,964 # Tsugami Corp. 105,000 527,762 # Tsukamoto Corp. Co., Ltd. 37,000 59,848 Tsukishima Kikai Co., Ltd. 38,000 400,169 Tsukuba Bank, Ltd. (The) 153,000 535,037 Tsukui Corp. 15,100 167,360 # Tsumura & Co. 46,100 1,448,920 Tsuruha Holdings, Inc. 13,100 1,189,333 Tsurumi Manufacturing Co., Ltd. 25,000 256,122 Tv Tokyo Holdings Corp. 5,900 101,632 TYK Corp. 34,000 85,277 # U-Shin, Ltd. 51,500 383,091 # UACJ Corp. 347,144 1,141,731 Ube Industries, Ltd. 1,940,200 4,016,008 Uchida Yoko Co., Ltd. 85,000 249,393 UKC Holdings Corp. 16,600 330,902 * Ulvac, Inc. 79,700 815,020 Unicharm Corp. 11,700 751,478 Union Tool Co. 18,400 422,956 Unipres Corp. 67,400 1,360,007 # United Arrows, Ltd. 5,300 228,355 * Unitika, Ltd. 348,000 213,096 # Universal Entertainment Corp. 21,700 432,147 UNY Group Holdings Co., Ltd. 410,900 2,592,905 * Usen Corp. 60,440 150,320 Ushio, Inc. 160,300 2,024,731 # USS Co., Ltd. 50,200 735,153 UT Holdings Co., Ltd. 7,600 31,169 Utoc Corp. 18,700 61,836 # V Technology Co., Ltd. 75 198,863 Valor Co., Ltd. 59,000 851,565 # Village Vanguard Co., Ltd. 85 131,728 Vital KSK Holdings, Inc. 50,585 354,804 VT Holdings Co., Ltd. 11,400 153,433 Wacoal Holdings Corp. 210,000 2,254,985 # Wacom Co., Ltd. 13,600 101,043 * Wakachiku Construction Co., Ltd. 198,000 268,915 * Wakamoto Pharmaceutical Co., Ltd. 9,000 24,612 Wakita & Co., Ltd. 69,000 898,509 Warabeya Nichiyo Co., Ltd. 24,100 449,665 Watabe Wedding Corp. 9,400 70,435 # WATAMI Co., Ltd. 16,400 252,079 # Weathernews, Inc. 3,600 77,865 # Welcia Holdings Co., Ltd. 7,800 471,818 # Wellnet Corp. 6,900 98,204 West Holdings Corp. 6,000 103,331 # West Japan Railway Co. 45,600 2,044,702 Wood One Co., Ltd. 40,000 113,226 Wowow, Inc. 5,200 199,780 Xebio Co., Ltd. 45,900 992,533 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- JAPAN -- (Continued) Y A C Co., Ltd. 13,500 $ 85,662 Yachiyo Bank, Ltd. (The) 25,100 684,704 Yachiyo Industry Co., Ltd. 1,100 7,850 Yahagi Construction Co., Ltd. 35,400 247,942 Yahoo Japan Corp. 91,800 428,313 Yaizu Suisankagaku Industry Co., Ltd. 9,800 86,753 Yakult Honsha Co., Ltd. 21,400 1,086,981 YAMABIKO Corp. 10,235 313,014 # Yamada Denki Co., Ltd. 1,321,600 3,707,070 Yamagata Bank, Ltd. (The) 223,000 928,561 Yamaguchi Financial Group, Inc. 386,000 3,637,518 Yamaha Corp. 229,600 3,428,033 # Yamaha Motor Co., Ltd. 254,400 3,897,025 * Yamaichi Electronics Co., Ltd. 24,100 60,102 Yamanashi Chuo Bank, Ltd. (The) 274,000 1,156,843 # Yamatane Corp. 193,000 362,731 Yamato Corp. 26,000 94,697 # Yamato Holdings Co., Ltd. 203,000 4,365,692 # Yamato Kogyo Co., Ltd. 51,200 1,897,686 Yamaya Corp. 5,010 72,169 Yamazaki Baking Co., Ltd. 203,000 2,066,743 Yamazen Corp. 75,600 479,417 Yaoko Co., Ltd. 9,600 357,614 # Yaskawa Electric Corp. 128,000 1,657,697 Yasuda Warehouse Co., Ltd. (The) 24,300 303,457 Yellow Hat, Ltd. 29,300 533,645 Yodogawa Steel Works, Ltd. 211,000 954,495 Yokogawa Bridge Holdings Corp. 50,000 712,029 # Yokogawa Electric Corp. 184,100 2,405,970 Yokohama Reito Co., Ltd. 76,500 605,479 Yokohama Rubber Co., Ltd. (The) 264,000 2,582,336 Yokowo Co., Ltd. 22,200 125,977 Yomeishu Seizo Co., Ltd. 2,000 16,564 Yondenko Corp. 23,000 81,233 Yondoshi Holdings, Inc. 29,600 398,976 Yonekyu Corp. 900 7,093 Yonex Co., Ltd. 9,400 52,124 Yorozu Corp. 26,000 513,007 Yuasa Funashoku Co., Ltd. 6,000 14,431 Yuasa Trading Co., Ltd. 281,000 567,381 Yuken Kogyo Co., Ltd. 80,000 176,630 Yuki Gosei Kogyo Co., Ltd. 11,000 33,045 Yurtec Corp. 67,000 217,615 Yusen Logistics Co., Ltd. 32,300 364,676 Yushin Precision Equipment Co., Ltd. 8,200 166,260 Yushiro Chemical Industry Co., Ltd. 15,100 137,363 Yutaka Foods Corp. 4,000 69,277 Yutaka Giken Co., Ltd. 200 4,697 # Zappallas, Inc. 11,600 86,208 # Zenrin Co., Ltd. 42,600 448,461 # Zensho Holdings Co., Ltd. 27,700 316,125 # Zeon Corp. 186,000 2,216,586 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- -------------- JAPAN -- (Continued) # ZERIA Pharmaceutical Co., Ltd. 12,099 $ 286,833 -------------- TOTAL JAPAN 1,934,382,905 -------------- NETHERLANDS -- (2.5%) Aalberts Industries NV 159,499 4,762,131 Accell Group 29,146 595,066 Aegon NV(007924103) 106,518 847,883 Aegon NV(5927375) 1,890,195 15,040,041 Akzo Nobel NV 190,989 13,864,726 # Akzo Nobel NV Sponsored ADR 82,551 2,021,674 * AMG Advanced Metallurgical Group NV 49,116 548,289 Amsterdam Commodities NV 18,609 414,611 APERAM 86,093 1,470,862 Arcadis NV 73,756 2,313,006 ArcelorMittal(B03XPL1) 626,690 9,870,757 # ArcelorMittal(B295F26) 335,321 5,284,659 ASM International NV 86,902 2,854,432 ASML Holding NV(B929F46) 58,212 5,511,958 # ASML Holding NV(B908F01) 40,988 3,879,104 BE Semiconductor Industries NV 114,119 1,240,065 Beter Bed Holding NV 13,418 302,722 BinckBank NV 119,568 1,150,348 # Brunel International NV 15,375 902,512 Corbion NV 135,617 3,141,931 Delta Lloyd NV 350,807 7,437,680 Exact Holding NV 11,827 312,536 Fugro NV 114,160 7,137,319 # Gemalto NV 71,209 7,992,467 * Grontmij 89,101 452,528 Heijmans NV 36,818 488,382 Heineken NV 60,448 4,165,300 Hunter Douglas NV 1,366 58,979 * ING Groep NV 648,397 8,239,640 #* ING Groep NV Sponsored ADR 1,565,969 19,919,125 * Kardan NV 6,709 3,389 KAS Bank NV 12,900 174,153 Kendrion NV 11,258 353,060 Koninklijke Ahold NV 726,192 13,802,396 Koninklijke Ahold NV Sponsored ADR 21,680 412,570 # Koninklijke BAM Groep NV 426,086 2,266,130 Koninklijke Boskalis Westminster NV 91,815 4,412,860 Koninklijke DSM NV 158,584 11,987,771 * Koninklijke KPN NV 541,821 1,725,075 Koninklijke Philips NV(5986622) 572,878 20,245,908 # Koninklijke Philips NV(500472303) 328,014 11,614,975 Koninklijke Ten Cate NV 46,757 1,419,632 Koninklijke Vopak NV 65,536 4,030,680 Koninklijke Wessanen NV 167,287 625,807 # Macintosh Retail Group NV 49,262 541,255 Nederland Apparatenfabriek 3,562 140,724 Nutreco NV 117,509 5,744,492 * Ordina NV 148,662 259,464 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ------------ NETHERLANDS -- (Continued) * PostNL NV 553,845 $ 2,894,020 Randstad Holding NV 183,458 11,298,924 Reed Elsevier NV 60,701 1,220,368 Reed Elsevier NV Sponsored ADR 45,688 1,838,942 #* Royal Imtech NV 96,672 284,471 * SBM Offshore NV 288,505 6,038,549 Sligro Food Group NV 21,798 816,400 #* SNS REAAL NV 262,485 -- Telegraaf Media Groep NV 22,200 289,595 TKH Group NV 54,173 1,730,643 TNT Express NV 513,134 4,730,835 #* TomTom NV 260,467 2,011,142 Unilever NV 181,970 7,214,279 Unit4 NV 40,586 1,909,461 USG People NV 126,286 1,669,391 Wolters Kluwer NV 261,143 7,074,580 Ziggo NV 120,289 5,156,691 ------------ TOTAL NETHERLANDS 268,159,365 ------------ NEW ZEALAND -- (0.2%) #* A2 Corp., Ltd. 22,506 12,678 Abano Healthcare Group, Ltd. 13,023 73,645 # Air New Zealand, Ltd. 581,507 773,596 # Auckland International Airport, Ltd. 1,567,786 4,438,140 #* Bathurst Resources New Zealand, Ltd. 558,054 102,769 Chorus, Ltd. 118,724 259,843 Chorus, Ltd. ADR 10,487 113,994 Contact Energy, Ltd. 509,537 2,209,565 #* Diligent Board Member SVCS 5,821 21,051 Ebos Group, Ltd. 32,370 259,303 # Fisher & Paykel Healthcare Corp., Ltd. 401,022 1,219,619 # Fletcher Building, Ltd.(6341606) 449,161 3,706,730 # Fletcher Building, Ltd.(6341617) 96,640 793,452 Freightways, Ltd. 97,810 353,066 Hallenstein Glasson Holdings, Ltd. 16,145 65,706 Heartland New Zealand, Ltd. 12,825 8,887 Infratil, Ltd. 506,862 1,046,616 Kathmandu Holdings, Ltd. 9,174 29,444 Mainfreight, Ltd. 54,302 520,261 Michael Hill International, Ltd. 72,300 91,348 New Zealand Oil & Gas, Ltd. 416,158 288,755 New Zealand Refining Co., Ltd. (The) 66,827 124,228 # Nuplex Industries, Ltd. 244,390 706,439 NZX, Ltd. 71,242 74,209 PGG Wrightson, Ltd. 151,904 51,472 * Pike River Coal, Ltd. 224,242 -- Port of Tauranga, Ltd. 76,138 867,426 * Pumpkin Patch, Ltd. 37,217 30,428 Restaurant Brands New Zealand, Ltd. 145,276 357,346 * Rubicon, Ltd. 64,229 18,881 Ryman Healthcare, Ltd. 202,195 1,260,425 Sanford Ltd. 31,342 118,221 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- NEW ZEALAND -- (Continued) Skellerup Holdings, Ltd. 20,500 $ 28,766 Sky Network Television, Ltd. 272,318 1,394,629 # SKYCITY Entertainment Group, Ltd. 483,823 1,553,837 Steel & Tube Holdings, Ltd. 25,952 68,085 # Telecom Corp. of New Zealand, Ltd. 546,370 1,060,203 Tourism Holdings, Ltd. 23,932 15,811 Tower, Ltd. 219,128 335,009 Trade Me, Ltd. 48,302 179,480 # TrustPower, Ltd. 75,810 432,075 Vector, Ltd. 261,830 564,296 Warehouse Group, Ltd. (The) 65,062 197,778 * Xero, Ltd. 3,973 91,846 ----------- TOTAL NEW ZEALAND 25,919,358 ----------- NORWAY -- (0.9%) # ABG Sundal Collier Holding ASA 454,248 354,683 * Agasti Holding ASA 49,859 14,343 Aker ASA Class A 39,331 1,239,090 Aker Solutions ASA 63,654 879,418 * Algeta ASA 20,664 818,858 * American Shipping ASA 767 4,349 * Archer, Ltd. 174,932 159,008 Atea ASA 114,748 1,271,509 Austevoll Seafood ASA 153,422 952,559 Bakkafrost P/F 11,749 165,074 #* Bionor Pharma ASA 71,347 33,684 Bonheur ASA 16,775 383,458 BW Offshore, Ltd. 630,020 862,232 * BWG Homes ASA 107,699 200,129 # Cermaq ASA 96,146 1,703,910 * Deep Sea Supply PLC 153,765 290,390 #* Det Norske Oljeselskap ASA 41,571 591,553 DNB ASA 554,955 9,837,415 * DNO International ASA 662,209 1,871,365 * DOF ASA 67,981 318,783 # Ekornes ASA 24,912 405,230 #* Electromagnetic GeoServices A.S. 67,978 78,472 Eltek ASA 321,422 378,305 Evry ASA 62,231 101,236 Farstad Shipping ASA 7,858 178,427 Fred Olsen Energy ASA 24,005 1,008,778 #* Frontline, Ltd. 75,011 159,406 # Ganger Rolf ASA 27,673 621,114 Gjensidige Forsikring ASA 120,786 2,254,500 Golar LNG, Ltd. 19,800 735,174 # Golden Ocean Group Ltd. 619,837 934,034 * Grieg Seafood ASA 62,647 195,848 * Havila Shipping ASA 3,252 19,037 # Hexagon Composites ASA 3,508 10,900 * Hoegh LNG Holdings Ltd 24,208 186,307 * Hurtigruten ASA 296,272 113,149 * InterOil Exploration and Production ASA 79,854 29,888 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- NORWAY -- (Continued) * Kongsberg Automotive Holding ASA 831,580 $ 641,472 # Kongsberg Gruppen A.S. 26,131 544,599 # Kvaerner ASA 279,574 455,453 Leroey Seafood Group ASA 26,755 826,775 # Marine Harvest ASA 3,563,997 4,178,377 #* Nordic Semiconductor ASA 281,940 1,194,793 # Norsk Hydro ASA 957,854 4,274,682 Norsk Hydro ASA Sponsored ADR 50,900 225,996 #* Norske Skogindustrier ASA 300,220 163,940 Northern Offshore, Ltd. 34,847 54,271 #* Norwegian Air Shuttle A.S. 36,394 1,494,103 #* Norwegian Energy Co. A.S. 424,931 21,395 * Odfjell SE Class A 41,255 295,870 Olav Thon Eindom A.S. 553 93,808 # Opera Software ASA 44,044 533,085 Orkla ASA 668,541 5,419,310 #* Panoro Energy ASA 463,586 245,663 Petroleum Geo-Services ASA 182,752 2,216,431 * PhotoCure ASA 4,035 24,265 Prosafe SE 92,069 789,117 * Q-Free ASA 66,600 181,565 * REC Silicon ASA 2,794,064 1,391,320 #* REC Solar AS 47,098 601,280 * Salmar ASA 35,567 435,739 Schibsted ASA 24,221 1,480,201 Seadrill, Ltd. 75,524 3,493,304 * Sevan Drilling A.S. 390,530 372,529 * Sevan Marine ASA 66,506 296,218 * Siem Offshore, Inc. 222,158 361,788 Solstad Offshore ASA 6,708 133,056 #* Songa Offshore 267,146 251,867 SpareBank 1 SMN 105,213 886,681 SpareBank 1 SR Bank ASA 55,576 499,457 Statoil ASA 87,099 2,060,867 Statoil ASA Sponsored ADR 380,607 8,993,743 Stolt-Nielsen, Ltd. 27,883 789,474 * Storebrand ASA 670,927 4,338,540 Subsea 7 SA 283,539 5,996,216 Telenor ASA 145,545 3,497,100 TGS Nopec Geophysical Co. ASA 61,850 1,701,100 Tomra Systems ASA 153,423 1,404,712 TTS Group ASA 11,319 12,535 Veidekke ASA 50,500 411,273 # Veripos, Inc. 21,707 106,899 Wilh Wilhelmsen ASA 41,383 384,173 Wilh Wilhelmsen Holding ASA Class A 19,944 610,558 # Yara International ASA 125,846 5,419,850 ----------- TOTAL NORWAY 99,167,065 ----------- PORTUGAL -- (0.3%) Altri SGPS SA 209,662 680,507 #* Banco BPI SA 769,751 1,218,839 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- PORTUGAL -- (Continued) #* Banco Comercial Portugues SA 16,266,993 $ 2,425,760 * Banco Espirito Santo SA 3,375,184 4,434,909 # Cimpor Cimentos de Portugal SGPS SA 9,432 34,517 Corticeira Amorim SGPS SA 169,781 471,070 EDP - Energias de Portugal SA 596,077 2,194,171 # EDP - Energias de Portugal SA Sponsored ADR 7,202 265,178 * EDP Renovaveis SA 394,064 2,166,411 Galp Energia SGPS SA 117,305 1,986,373 * Impresa SGPS SA 49,210 61,203 Jeronimo Martins SGPS SA 62,423 1,149,615 Mota-Engil SGPS SA 149,762 686,418 # Novabase SGPS SA 12,258 48,087 Portucel SA 334,984 1,288,937 # Portugal Telecom SGPS SA 953,354 4,297,248 REN - Redes Energeticas Nacionais SGPS SA 238,989 717,073 Semapa-Sociedade de Investimento e Gestao 103,153 1,013,669 Sonae 1,555,284 2,246,413 * Sonae Industria SGPS SA 132,969 108,577 Sonaecom - SGPS SA 253,596 822,280 Teixeira Duarte SA 158,418 156,461 # ZON OPTIMUS SGPS SA 154,464 1,059,496 ----------- TOTAL PORTUGAL 29,533,212 ----------- RUSSIA -- (0.0%) #* Alliance Oil Co., Ltd. 32,625 289,979 ----------- SINGAPORE -- (1.3%) * Abterra, Ltd. 189,000 83,046 # Amara Holdings, Ltd. 248,000 110,656 Amtek Engineering, Ltd. 320,000 123,466 Armstrong Industrial Corp., Ltd. 390,000 125,619 ASL Marine Holdings, Ltd. 282,800 151,211 # Ausgroup, Ltd. 1,048,939 249,220 Baker Technology, Ltd. 259,000 54,141 Banyan Tree Holdings, Ltd. 409,000 222,454 # Biosensors International Group, Ltd. 1,634,901 1,236,178 Bonvests Holdings, Ltd. 51,600 48,572 Boustead Singapore, Ltd. 365,000 442,217 Breadtalk Group, Ltd. 93,000 68,901 * Broadway Industrial Group, Ltd. 520,000 94,169 Bukit Sembawang Estates, Ltd. 125,000 618,510 # Bund Center Investment, Ltd. 1,264,000 207,933 CapitaLand, Ltd. 2,419,500 6,062,036 CH Offshore, Ltd. 330,000 112,678 * China Auto Corp., Ltd. 22,000 567 China Aviation Oil Singapore Corp., Ltd. 279,000 208,840 # China Merchants Holdings Pacific, Ltd. 148,000 101,265 # Chip Eng Seng Corp., Ltd. 1,141,000 646,778 City Developments, Ltd. 435,000 3,600,602 Cityspring Infrastructure Trust 92,000 35,524 ComfortDelGro Corp., Ltd. 1,427,169 2,203,796 # Cosco Corp. Singapore, Ltd. 1,680,000 1,059,067 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- SINGAPORE -- (Continued) Creative Technology, Ltd. 2,120 $ 3,768 CSC Holdings, Ltd. 396,000 32,256 CSE Global, Ltd. 748,000 568,228 # CWT, Ltd. 335,000 374,645 DBS Group Holdings, Ltd. 846,655 11,414,152 * Delong Holdings, Ltd. 207,200 59,849 DMX Technologies Group, Ltd. 256,000 45,245 # Dyna-Mac Holdings, Ltd. 415,000 133,452 Elec & Eltek International Co., Ltd. 20,000 39,197 Eu Yan Sang International, Ltd. 44,400 26,777 * euNetworks Group, Ltd. 41,380 25,817 Ezion Holdings, Ltd. 49,000 88,193 #* Ezra Holdings, Ltd. 1,409,000 1,518,550 Falcon Energy Group, Ltd. 572,000 178,823 Far East Orchard, Ltd. 255,401 402,623 First Resources, Ltd. 525,000 823,684 FJ Benjamin Holdings, Ltd. 527,000 103,778 Food Empire Holdings, Ltd. 144,800 76,900 Fragrance Group, Ltd. 1,448,000 238,933 Freight Links Express Holdings, Ltd. 2,818,510 242,639 * Gallant Venture, Ltd. 1,140,000 251,823 # Genting Singapore P.L.C. 880,000 1,076,681 * Global Yellow Pages, Ltd. 29,000 2,149 GMG Global, Ltd. 5,413,000 439,999 Golden Agri-Resources, Ltd. 7,923,569 3,825,989 # Goodpack, Ltd. 338,000 521,011 GP Batteries International, Ltd. 50,000 32,234 GP Industries, Ltd. 174,000 71,396 Great Eastern Holdings, Ltd. 18,000 262,282 # GuocoLand, Ltd. 425,221 769,882 # GuocoLeisure, Ltd. 560,000 371,472 #* Healthway Medical Corp., Ltd. 2,362,133 127,434 HG Metal Manufacturing, Ltd. 300,000 19,041 Hi-P International, Ltd. 525,000 255,456 Hiap Hoe, Ltd. 128,000 83,329 Hiap Seng Engineering, Ltd. 120,000 25,597 Ho Bee Land, Ltd. 420,000 695,383 Hong Fok Corp., Ltd. 581,080 334,204 Hong Leong Asia, Ltd. 216,000 252,842 Hongkong Land Holdings, Ltd. 159,000 977,876 Hotel Grand Central, Ltd. 133,492 113,752 # Hotel Properties, Ltd. 381,000 962,574 Hour Glass, Ltd. (The) 50,000 68,036 HTL International Holdings, Ltd. 328,000 84,391 * Huan Hsin Holdings, Ltd. 67,000 1,996 HupSteel, Ltd. 145,000 25,729 Hutchison Port Holdings Trust 1,189,000 867,720 Hwa Hong Corp., Ltd. 280,000 69,842 # Hyflux, Ltd. 527,000 491,456 # Indofood Agri Resources, Ltd. 798,000 584,158 InnoTek, Ltd. 87,000 23,859 #* International Healthway Corp., Ltd. 129,620 37,635 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- SINGAPORE -- (Continued) * Interra Resources, Ltd. 365,000 $ 118,944 # IPC Corp., Ltd. 974,000 120,455 Jardine Cycle & Carriage, Ltd. 35,838 1,056,175 Jaya Holdings, Ltd. 395,000 217,627 #* Jiutian Chemical Group, Ltd. 2,526,000 178,514 * Jurong Technologies Industrial Corp., Ltd. 213,200 -- K-Green Trust 170,400 140,553 K1 Ventures, Ltd. 1,011,000 148,326 Keppel Corp., Ltd. 292,200 2,549,828 Keppel Land, Ltd. 883,000 2,632,448 # Keppel Telecommunications & Transportation, Ltd. 139,000 174,330 Koh Brothers Group, Ltd. 193,000 45,849 LC Development, Ltd. 719,400 89,123 Lee Kim Tah Holdings, Ltd. 60,000 43,612 * Li Heng Chemical Fibre Technologies, Ltd. 1,245,000 123,558 Lian Beng Group, Ltd. 857,000 382,584 Low Keng Huat Singapore, Ltd. 293,000 161,579 Lum Chang Holdings, Ltd. 160,000 45,083 M1, Ltd. 219,000 600,134 * Manhattan Resources, Ltd. 178,000 47,894 Marco Polo Marine, Ltd. 269,000 81,030 # Memstar Technology, Ltd. 1,337,000 89,237 * Mercator Lines Singapore, Ltd. 12,000 1,058 Mermaid Maritime PCL 34,000 8,889 # Mewah International, Inc. 604,000 233,619 Midas Holdings, Ltd. 2,395,000 961,654 # Nam Cheong Ltd 1,573,000 361,005 #* Neptune Orient Lines, Ltd. 1,943,000 1,654,988 Noble Group, Ltd. 4,845,000 4,003,022 NSL, Ltd. 75,000 86,349 #* Oceanus Group, Ltd. 4,001,000 48,127 OKP Holdings, Ltd. 14,000 4,047 # Olam International, Ltd. 2,637,809 3,263,377 # OSIM International, Ltd. 226,000 383,770 * Otto Marine, Ltd. 1,213,500 51,583 # OUE, Ltd. 492,000 957,698 Oversea-Chinese Banking Corp., Ltd. 1,038,084 8,684,077 Pan-United Corp., Ltd. 222,000 172,076 Petra Foods, Ltd. 114,000 325,989 Popular Holdings, Ltd. 590,000 121,202 # QAF, Ltd. 298,092 201,400 * Raffles Education Corp., Ltd. 1,070,667 258,518 Raffles Medical Group, Ltd. 106,590 273,705 Rotary Engineering, Ltd. 444,000 230,403 * S I2I, Ltd. 4,170,000 60,328 San Teh, Ltd. 140,400 35,111 * Sapphire Corp., Ltd. 460,000 41,455 # SATS, Ltd. 681,392 1,864,211 SBS Transit, Ltd. 54,000 55,853 See Hup Seng, Ltd. 585,000 140,797 SembCorp Industries, Ltd. 404,000 1,727,270 # SembCorp Marine, Ltd. 179,800 650,444 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ------------ SINGAPORE -- (Continued) Sheng Siong Group, Ltd. 260,000 $ 129,577 SIA Engineering Co., Ltd. 93,000 377,813 Sim Lian Group, Ltd. 206,794 148,989 Sinarmas Land, Ltd. 2,704,000 1,194,595 Sing Holdings, Ltd. 263,000 93,203 Singapore Airlines, Ltd. 679,400 5,699,067 Singapore Exchange, Ltd. 172,000 1,014,738 Singapore Land, Ltd. 130,143 908,545 Singapore Post, Ltd. 839,216 884,683 # Singapore Press Holdings, Ltd. 537,000 1,836,910 Singapore Reinsurance Corp., Ltd. 55,000 11,228 Singapore Shipping Corp., Ltd. 137,000 23,189 Singapore Technologies Engineering, Ltd. 321,000 1,088,447 Singapore Telecommunications, Ltd. 1,487,350 4,516,755 #* Sino Grandness Food Industry Group, Ltd. 544,000 312,791 # SMRT Corp., Ltd. 490,000 512,462 Stamford Land Corp., Ltd. 864,000 396,054 StarHub, Ltd. 172,710 617,571 Sunningdale Tech, Ltd. 1,184,000 120,806 * SunVic Chemical Holdings, Ltd. 482,000 168,743 Super Group, Ltd. 263,000 889,260 # Swiber Holdings, Ltd. 1,045,000 526,061 # Tat Hong Holdings, Ltd. 467,000 350,864 Thakral Corp., Ltd. 793,000 18,530 Tiong Woon Corp. Holding, Ltd. 465,750 121,494 * Triyards holdings, Ltd. 113,399 61,940 Tuan Sing Holdings, Ltd. 1,339,318 344,974 UMS Holdings, Ltd. 413,000 184,632 United Engineers, Ltd. 795,304 1,184,303 # United Envirotech, Ltd. 608,000 408,085 United Industrial Corp., Ltd. 704,000 1,738,598 United Overseas Bank, Ltd. 489,655 8,200,059 UOB-Kay Hian Holdings, Ltd. 481,000 643,466 UOL Group, Ltd. 671,000 3,551,509 # UPP Holdings, Ltd. 610,000 129,710 * Vard Holdings, Ltd. 945,000 667,826 Venture Corp., Ltd. 472,000 2,955,846 # Wee Hur Holdings, Ltd. 549,000 141,523 Wheelock Properties Singapore, Ltd. 334,347 457,533 Wilmar International, Ltd. 1,084,000 3,015,189 Wing Tai Holdings, Ltd. 764,124 1,356,724 #* Xpress Holdings, Ltd. 474,000 9,145 # Yeo Hiap Seng, Ltd. 63,135 129,370 YHI International, Ltd. 96,000 20,666 # Yongnam Holdings, Ltd. 2,156,000 416,640 ------------ TOTAL SINGAPORE 131,481,204 ------------ SPAIN -- (2.3%) # Abengoa SA 54,815 169,428 Abengoa SA Class B 247,089 598,321 Abertis Infraestructuras SA 121,228 2,597,310 # Acciona SA 39,614 2,511,222 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- SPAIN -- (Continued) # Acerinox SA 155,377 $ 2,048,114 ACS Actividades de Construccion y Servicios SA 113,314 3,717,278 Adveo Group International SA 6,291 117,628 # Almirall SA 94,442 1,411,226 Amadeus IT Holding SA Class A 90,597 3,361,356 Atresmedia Corporacion de Medi 80,233 1,340,449 * Azkoyen SA 14,561 38,214 Banco Bilbao Vizcaya Argentaria SA 1,349,297 15,769,115 # Banco Bilbao Vizcaya Argentaria SA Sponsored ADR 918,486 10,727,916 # Banco de Sabadell SA 4,198,655 10,758,229 * Banco Popular Espanol SA 2,032,797 11,530,770 Banco Santander SA 3,256,138 28,866,513 # Banco Santander SA Sponsored ADR 2,364,383 21,066,653 * Bankia SA 298,636 445,583 Bankinter SA 798,868 4,870,795 * Baron de Ley 2,832 240,040 Bolsas y Mercados Espanoles SA 45,423 1,698,380 # CaixaBank 1,411,036 7,313,614 * Caja de Ahorros del Mediterraneo 21,176 -- #* Campofrio Food Group SA 30,696 245,802 #* Cementos Portland Valderrivas SA 22,382 206,825 Cie Automotive SA 42,476 460,755 #* Codere SA 6,452 12,506 Construcciones y Auxiliar de Ferrocarriles SA 3,056 1,586,792 * Deoleo SA 700,772 399,023 Dinamia Capital Privado Sociedad de Capital Riesgo SA 4,887 44,240 Distribuidora Internacional de Alimentacion SA 241,145 2,198,512 * Dogi International Fabrics SA 13,276 -- Duro Felguera SA 35,242 230,617 Ebro Foods SA 134,477 3,033,473 Elecnor SA 8,758 128,173 # Enagas SA 192,529 5,140,534 Ence Energia y Celulosa SA 257,736 1,035,115 #* Ercros SA 127,395 97,010 # Faes Farma SA 138,313 496,981 # Ferrovial SA 237,937 4,535,495 Fluidra SA 3,062 10,462 * Fomento de Construcciones y Contratas SA 74,537 1,715,031 * Gamesa Corp. Tecnologica SA 403,444 3,896,092 Gas Natural SDG SA 229,272 5,407,645 Grifols SA 57,779 2,368,156 Grupo Catalana Occidente SA 56,170 1,900,338 #* Grupo Ezentis SA 382,628 213,790 Iberdrola SA 2,883,312 18,098,103 Iberpapel Gestion SA 4,081 84,679 # Inditex SA 19,374 3,181,964 # Indra Sistemas SA 152,928 2,521,907 * Inmobiliaria Colonial SA 1,392 2,288 * Jazztel P.L.C. 172,002 1,883,909 Laboratorios Farmaceuticos Rovi SA 4,530 54,501 Mapfre SA 540,209 2,169,310 * Mediaset Espana Comunicacion SA 255,714 3,120,807 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ------------ SPAIN -- (Continued) # Melia Hotels International SA 81,629 $ 924,196 Miquel y Costas & Miquel SA 13,101 506,246 * Natra SA 12,660 38,534 #* NH Hoteles SA 229,178 1,196,113 Obrascon Huarte Lain SA 62,832 2,631,683 Papeles y Cartones de Europa SA 73,181 392,368 * Pescanova SA 22,953 -- Prim SA 5,102 39,257 #* Promotora de Informaciones SA Class A 351,998 178,661 Prosegur Cia de Seguridad SA 128,876 764,639 #* Realia Business SA 136,722 148,107 Red Electrica Corp. SA 71,175 4,431,686 Repsol SA 226,027 6,059,967 Repsol SA Sponsored ADR 274,321 7,335,344 * Sacyr SA 481,719 2,592,560 * Sociedad Nacional de Industrias Apicaciones Celulosa Espanola SA 56,486 15,032 * Solaria Energia y Medio Ambiente SA 34,875 38,340 # Tecnicas Reunidas SA 20,820 1,071,645 * Telecomunicaciones y Energia 33,041 57,461 * Telefonica SA 301,003 5,297,445 #* Telefonica SA Sponsored ADR 229,616 4,011,391 # Tubacex SA 180,387 694,465 Tubos Reunidos SA 146,716 365,588 # Vidrala SA 20,337 870,708 Viscofan SA 35,568 1,886,735 * Vocento SA 34,637 69,430 # Zardoya Otis SA 59,482 1,034,784 * Zeltia SA 145,148 500,075 ------------ TOTAL SPAIN 240,831,449 ------------ SWEDEN -- (2.8%) AarhusKarlshamn AB 36,111 2,136,452 Acando AB 79,449 155,871 * Active Biotech AB 4,667 51,789 AddTech AB Class B 3,728 169,967 AF AB Class B 58,150 1,836,990 Alfa Laval AB 62,191 1,418,625 * Arise AB 1,101 4,032 Assa Abloy AB Class B 101,152 5,018,871 Atlas Copco AB Class A 56,426 1,563,401 Atlas Copco AB Class B 30,156 749,337 Atrium Ljungberg AB Class B 4,423 60,289 Avanza Bank Holding AB 8,968 288,337 Axfood AB 14,804 765,579 # Axis Communications AB 21,808 752,540 B&B Tools AB Class B 30,869 423,086 #* BE Group AB 67,268 117,692 Beijer AB G&L Class B 6,430 134,805 # Beijer Alma AB 11,726 306,213 Beijer Electronics AB 2,424 25,515 Betsson AB 19,508 612,862 Bilia AB Class A 37,732 913,745 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- SWEDEN -- (Continued) BillerudKorsnas AB 308,873 $3,623,518 BioGaia AB Class B 8,331 283,771 Biotage AB 44,000 68,519 # Bjoern Borg AB 24,143 107,491 Boliden AB 519,312 7,375,793 Bure Equity AB 113,957 440,365 Byggmax Group AB 45,673 343,327 Castellum AB 182,104 2,796,163 Catena AB 500 7,915 Cision AB 4,601 23,160 # Clas Ohlson AB Class B 56,986 897,372 #* Cloetta AB Class B 14,784 46,218 Concentric AB 86,653 891,304 Concordia Maritime AB Class B 30,791 54,723 Connecta AB 3,879 23,320 * CyberCom Group AB 79,025 28,907 # Dios Fastigheter AB 45,450 293,117 Doro AB 39,848 290,075 Duni AB 40,482 455,797 Electrolux AB Series B 256,930 6,337,164 # Elekta AB Class B 174,063 2,570,761 Enea AB 26,784 224,011 #* Eniro AB 231,820 1,007,194 Fabege AB 156,867 1,804,911 Fagerhult AB 2,628 80,611 * Fastighets AB Balder 64,093 565,380 FinnvedenBulten AB 3,242 20,964 Getinge AB Class B 141,830 4,493,200 Gunnebo AB 84,632 486,006 Haldex AB 90,384 654,577 Hennes & Mauritz AB Class B 90,120 3,894,250 Hexagon AB Class B 277,885 8,332,328 # Hexpol AB 36,835 2,767,541 # HIQ International AB 100,513 582,540 # Holmen AB Class B 108,177 3,593,320 Hufvudstaden AB Class A 70,229 919,210 Husqvarna AB Class A 102,374 600,951 Husqvarna AB Class B 642,017 3,772,178 * ICA Gruppen AB 120,279 3,635,123 Industrial & Financial Systems Class B 33,452 768,314 Indutrade AB 9,044 353,672 Intrum Justitia AB 90,784 2,413,889 # JM AB 118,006 3,361,669 * KappAhl AB 97,281 575,180 Klovern AB 91,294 404,935 # KNOW IT AB 27,286 232,115 Kungsleden AB 188,740 1,386,306 Lagercrantz AB Class B 28,386 492,776 * Lindab International AB 127,818 1,244,482 Loomis AB Class B 101,564 2,434,569 * Lundin Petroleum AB 132,873 2,738,276 Meda AB Class A 452,775 5,080,807 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- SWEDEN -- (Continued) #* Medivir AB Class B 45,238 $ 592,033 # Mekonomen AB 15,098 497,870 * Micronic Mydata AB 119,447 239,594 Millicom International Cellular SA 16,656 1,536,625 # Modern Times Group AB Class B 38,861 2,119,690 MQ Holding AB 5,078 14,088 NCC AB Class A 6,687 208,910 NCC AB Class B 141,952 4,366,343 Net Entertainment NE AB Class B 18,106 350,359 * Net Insight AB Class B 379,646 80,190 # New Wave Group AB Class B 111,042 630,771 Nibe Industrier AB Class B 90,932 1,743,421 Nobia AB 245,927 2,140,875 Nolato AB Class B 35,890 732,370 Nordea Bank AB 1,635,765 20,923,901 Nordnet AB Class B 146,854 627,139 * Northland Resources SA 1 1 OEM International AB Class B 9,300 107,575 * Orexo AB 15,326 306,997 Oriflame Cosmetics SA 1,062 33,514 #* PA Resources AB 10,516 16,228 # Peab AB 354,866 2,086,518 # Pricer AB Class B 171,573 192,881 # Proact IT Group AB 5,666 61,875 # Proffice AB Class B 99,233 377,905 # Ratos AB Class B 287,247 2,485,813 #* RaySearch Laboratories AB 24,042 96,130 ReadSoft AB Class B 26,206 79,336 * Rederi AB Transatlantic 19,360 19,873 * Rezidor Hotel Group AB 113,467 645,701 * rnb Retail and Brands AB 18,260 33,571 Saab AB Class B 90,624 1,814,162 Sagax AB Class B 3,620 13,225 Sandvik AB 193,513 2,614,756 * SAS AB 276,654 827,798 Scania AB Class B 101,103 2,026,438 Securitas AB Class B 369,531 4,213,742 Semcon AB 24,854 270,689 # Sintercast AB 2,200 24,470 Skandinaviska Enskilda Banken AB 9,106 102,866 Skandinaviska Enskilda Banken AB Class A 1,045,875 12,649,922 Skanska AB Class B 517,701 9,967,963 SKF AB Class A 5,419 143,267 SKF AB Class B 138,360 3,660,912 SkiStar AB 28,003 373,601 # SSAB AB Class A 276,678 1,820,137 SSAB AB Class B 141,027 795,678 Svenska Cellulosa AB Class A 18,540 523,953 Svenska Cellulosa AB Class B 528,401 14,980,802 Svenska Handelsbanken AB Class A 283,949 12,842,035 Svenska Handelsbanken AB Class B 5,937 256,962 Sweco AB Class B 23,609 298,239 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ------------ SWEDEN -- (Continued) Swedbank AB Class A 515,348 $ 13,412,612 # Swedish Match AB 143,729 4,739,155 * Swedish Orphan Biovitrum AB 228,166 2,180,872 Systemair AB 2,908 51,175 Tele2 AB Class B 604,419 7,285,311 Telefonaktiebolaget LM Ericsson Class A 47,019 530,937 Telefonaktiebolaget LM Ericsson Class B 864,965 10,346,031 Telefonaktiebolaget LM Ericsson Sponsored ADR 650,060 7,794,219 TeliaSonera AB 1,211,684 10,019,403 * TradeDoubler AB 63,660 175,854 * Transcom WorldWide SA 219,187 43,613 # Transmode AB 1,153 19,061 Trelleborg AB Class B 398,768 7,524,615 Unibet Group P.L.C. 38,077 1,527,514 Vitrolife AB 15,218 186,242 Volvo AB Class A 171,557 2,204,466 Volvo AB Class B 439,474 5,640,607 Volvo AB Sponsored ADR 70,300 902,652 Wallenstam AB Class B 100,390 1,392,101 Wihlborgs Fastigheter AB 83,778 1,444,974 ------------ TOTAL SWEDEN 294,377,191 ------------ SWITZERLAND -- (6.4%) ABB, Ltd. 1,199,336 30,556,144 # ABB, Ltd. Sponsored ADR 450,592 11,476,578 * Acino Holding AG 7,683 973,404 Actelion, Ltd. 83,305 6,445,353 Adecco SA 177,038 13,055,442 * Advanced Digital Broadcast Holdings SA 3,871 72,044 * AFG Arbonia-Forster Holding AG 27,792 963,314 Allreal Holding AG 23,861 3,280,582 Alpiq Holding AG 2,574 339,956 ALSO Holding AG 635 33,152 ams AG 16,546 1,806,527 APG SGA SA 781 207,066 Aryzta AG 156,287 11,659,388 Ascom Holding AG 49,974 737,044 Autoneum Holding AG 7,290 970,579 # Bachem Holding AG Class B 6,084 347,692 Baloise Holding AG 85,731 9,959,700 Bank Coop AG 6,201 325,668 Banque Cantonale de Geneve 1,136 290,327 Banque Cantonale Vaudoise 4,936 2,742,756 Banque Privee Edmond de Rothschild SA 10 175,611 Barry Callebaut AG 2,604 2,719,992 Basilea Pharmaceutica 3,758 409,276 # Basler Kantonalbank 6,579 553,666 Belimo Holding AG 248 639,206 Bell AG 110 269,225 Bellevue Group AG 11,759 168,656 Berner Kantonalbank AG 6,254 1,558,213 BKW AG 8,860 307,737 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- SWITZERLAND -- (Continued) * Bobst Group AG 15,239 $ 537,882 Bossard Holding AG 5,818 1,183,381 Bucher Industries AG 12,291 3,403,747 Burckhardt Compression Holding AG 3,321 1,330,785 Burkhalter Holding AG 465 37,663 Carlo Gavazzi Holding AG 221 50,690 Centralschweizerische Kraftwerke AG 66 21,072 Cham Paper Holding AG 5 1,319 * Charles Voegele Holding AG 10,609 136,575 Cicor Technologies 911 32,407 Cie Financiere Richemont SA 156,608 16,013,118 Cie Financiere Tradition SA 1,907 103,224 Clariant AG 507,686 8,945,345 Coltene Holding AG 5,988 309,381 Conzzeta AG 163 338,122 Credit Suisse Group AG 1,122,531 34,919,631 Credit Suisse Group AG Sponsored ADR 541,531 16,857,860 Daetwyler Holding AG 11,073 1,408,055 DKSH Holding AG 12,772 1,065,596 Dottikon Es Holding AG 89 22,664 * Dufry AG 30,282 4,892,570 # EFG International AG 99,357 1,461,858 Emmi AG 3,640 1,047,298 # EMS-Chemie Holding AG 9,281 3,379,613 Energiedienst Holding AG 8,178 279,920 * Evolva Holding SA 28,548 27,655 Flughafen Zuerich AG 7,427 4,115,943 Forbo Holding AG 2,884 2,261,426 Galenica AG 6,928 6,123,014 GAM Holding AG 367,328 6,863,838 * Gategroup Holding AG 48,981 1,282,781 Geberit AG 12,466 3,724,399 Georg Fischer AG 7,371 5,077,496 Givaudan SA 6,351 9,006,914 Gurit Holding AG 852 395,843 Helvetia Holding AG 11,366 5,360,649 Holcim, Ltd. 218,161 16,226,693 Huber & Suhner AG 16,050 877,703 Implenia AG 24,070 1,620,985 Inficon Holding AG 2,441 760,741 Interroll Holding AG 635 305,585 Intershop Holdings 1,531 555,231 Julius Baer Group, Ltd. 409,538 20,090,186 Kaba Holding AG Class B 4,500 1,925,504 Kardex AG 10,359 451,357 Komax Holding AG 6,021 823,986 Kudelski SA 78,841 1,087,356 Kuehne + Nagel International AG 13,624 1,721,132 Kuoni Reisen Holding AG 7,049 2,979,577 LEM Holding SA 2,658 1,961,503 Liechtensteinische Landesbank AG 3,057 121,122 * LifeWatch AG 6,278 48,887 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- SWITZERLAND -- (Continued) Lindt & Spruengli AG 35 $ 1,759,092 # Logitech International SA(B18ZRK2) 212,966 2,181,269 # Logitech International SA(H50430232) 23,422 241,012 Lonza Group AG 106,225 9,481,953 Luzerner Kantonalbank AG 4,788 1,910,263 Metall Zug AG 177 425,150 #* Meyer Burger Technology AG 161,332 1,893,025 Micronas Semiconductor Holding AG 59,268 485,102 Mikron Holding AG 48,480 284,634 Mobilezone Holding AG 18,218 188,816 Mobimo Holding AG 10,100 2,115,062 * Myriad Group AG 16,690 28,865 Nestle SA 587,284 42,392,455 Nobel Biocare Holding AG 73,392 1,210,776 Novartis AG 53,620 4,162,122 # Novartis AG ADR 818,651 63,486,385 OC Oerlikon Corp. AG 331,745 4,637,853 * Orascom Development Holding AG 4,588 65,369 * Orell Fuessli Holding AG 435 43,732 Orior AG 6,012 337,889 Panalpina Welttransport Holding AG 12,418 1,855,893 Partners Group Holding AG 6,832 1,771,010 Phoenix Mecano AG 1,043 623,903 PSP Swiss Property AG 24,449 2,101,360 PubliGroupe AG 2,923 289,403 Rieter Holding AG 6,609 1,383,675 Roche Holding AG(7108918) 3,734 1,025,995 Roche Holding AG(7110388) 81,978 22,669,818 Romande Energie Holding SA 367 458,733 Schaffner Holding AG 468 130,141 Schindler Holding AG 5,484 780,445 * Schmolz + Bickenbach AG 993,072 1,256,827 Schweiter Technologies AG 1,679 1,125,851 Schweizerische National-Versicherungs-Gesellschaft AG 25,017 1,236,417 SGS SA 1,177 2,753,889 Siegfried Holding AG 7,314 1,205,916 Sika AG 2,986 9,413,209 Sonova Holding AG 28,346 3,688,981 St Galler Kantonalbank AG 4,439 1,805,266 # Straumann Holding AG 5,093 1,012,289 Sulzer AG 36,520 5,713,194 Swatch Group AG (The)(7184725) 22,619 14,446,561 Swatch Group AG (The)(7184736) 31,716 3,528,797 Swiss Life Holding AG 55,996 11,102,905 Swiss Re AG 372,384 32,688,839 Swisscom AG 6,162 3,142,963 Swisscom AG Sponsored ADR 5,100 260,253 Swisslog Holding AG 471,656 550,442 Swissquote Group Holding SA 20,003 818,803 Syngenta AG 2,559 1,032,855 Syngenta AG ADR 121,993 9,850,935 Tamedia AG 2,226 264,545 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ------------ SWITZERLAND -- (Continued) Tecan Group AG 6,441 $ 672,323 Temenos Group AG 87,201 2,222,002 * Tornos Holding AG 12,446 61,576 U-Blox AG 10,864 980,165 UBS AG(B18YFJ4) 1,749,489 33,836,974 UBS AG(H89231338) 285,193 5,521,336 Valartis Group AG 9,003 184,090 Valiant Holding 21,356 1,992,229 Valora Holding AG 5,877 1,452,061 Vaudoise Assurances Holding SA Class B 1,262 533,621 Verwaltungs- und Privat-Bank AG 4,933 478,193 Vetropack Holding AG 374 747,231 #* Von Roll Holding AG 80,625 134,256 Vontobel Holding AG 48,641 1,946,951 Walliser Kantonalbank 173 144,681 Walter Meier AG 3,375 214,677 Ypsomed Holding AG 3,145 200,877 # Zehnder Group AG 14,106 664,403 * Zueblin Immobilien Holding AG 38,248 85,963 Zug Estates Holding AG 178 231,150 Zuger Kantonalbank AG 134 700,156 Zurich Insurance Group AG 160,459 44,338,545 ------------ TOTAL SWITZERLAND 671,285,977 ------------ UNITED KINGDOM -- (17.8%) 888 Holdings P.L.C. 270,123 688,395 A.G.BARR P.L.C. 85,932 722,024 Aberdeen Asset Management P.L.C. 1,179,383 8,369,882 Acal P.L.C. 26,297 140,765 Admiral Group P.L.C. 83,091 1,701,223 * Afren P.L.C. 1,796,789 4,541,835 African Barrick Gold P.L.C. 85,323 263,638 * Aga Rangemaster Group P.L.C. 62,528 129,471 Aggreko P.L.C. 93,911 2,421,610 Air Partner P.L.C. 2,004 15,918 Alent P.L.C. 434,247 2,413,321 * Alizyme P.L.C. 42,517 -- Alumasc Group P.L.C. 8,807 19,287 AMEC P.L.C. 422,464 7,967,753 Amlin P.L.C. 895,186 6,116,414 Anglo American P.L.C. 1,131,410 26,901,050 Anglo Pacific Group P.L.C. 20,167 71,777 Anglo-Eastern Plantations 8,036 87,015 Anite P.L.C. 269,961 389,838 Antofagasta P.L.C. 121,117 1,655,301 ARM Holdings P.L.C. 12,223 191,530 # ARM Holdings P.L.C. Sponsored ADR 122,079 5,760,908 Ashmore Group P.L.C. 305,999 1,982,904 Ashtead Group P.L.C. 731,377 7,685,416 Associated British Foods P.L.C. 254,917 9,267,494 AstraZeneca P.L.C. Sponsored ADR 424,722 22,450,805 Aviva P.L.C. 2,797,137 20,080,392 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- UNITED KINGDOM -- (Continued) Aviva P.L.C. Sponsored ADR 20,300 $ 293,132 Avon Rubber P.L.C. 9,160 79,985 AZ Electronic Materials SA 55,116 253,201 Babcock International Group P.L.C. 388,234 7,938,997 BAE Systems P.L.C. 2,112,632 15,410,573 Balfour Beatty P.L.C. 1,132,339 5,178,481 Barclays P.L.C. 237,662 999,953 Barclays P.L.C. Sponsored ADR 2,263,921 38,056,512 Barratt Developments P.L.C. 1,841,045 9,872,727 BBA Aviation P.L.C. 747,693 4,052,664 Beazley P.L.C. 912,072 3,343,309 Bellway P.L.C. 232,514 5,600,420 Berendsen P.L.C. 316,034 4,921,578 Berkeley Group Holdings P.L.C. 192,353 7,210,371 Betfair Group P.L.C. 18,441 297,425 BG Group P.L.C. 1,429,345 29,158,159 BG Group P.L.C. Sponsored ADR 136,000 2,782,560 BHP Billiton P.L.C. 15,526 479,109 # BHP Billiton P.L.C. ADR 286,867 17,682,482 Bloomsbury Publishing P.L.C. 58,768 162,348 Bodycote P.L.C. 423,378 4,462,835 Booker Group P.L.C. 1,774,685 4,274,396 BOOT HENRY P.L.C. 54,419 157,475 Bovis Homes Group P.L.C. 253,499 3,189,132 BP P.L.C. 80,935 628,266 BP P.L.C. Sponsored ADR 1,845,938 85,836,114 Braemar Shipping Services P.L.C. 13,650 117,420 Brammer P.L.C. 37,542 290,362 Brewin Dolphin Holdings P.L.C. 370,705 1,690,179 British American Tobacco P.L.C. 82,257 4,538,303 British American Tobacco P.L.C. Sponsored ADR 20,996 2,319,848 British Polythene Industries P.L.C. 25,012 274,055 British Sky Broadcasting Group P.L.C. 56,222 844,734 # British Sky Broadcasting Group P.L.C. Sponsored ADR 24,700 1,494,844 # Britvic P.L.C. 229,456 2,297,317 BT Group P.L.C. 468,605 2,835,355 BT Group P.L.C. Sponsored ADR 140,608 8,525,063 * BTG P.L.C. 399,154 2,685,907 Bunzl P.L.C. 246,332 5,433,838 Burberry Group P.L.C. 177,928 4,372,316 # Bwin.Party Digital Entertainment P.L.C. 1,076,346 2,114,710 Cable & Wireless Communications P.L.C. 1,395,881 1,047,232 * Cairn Energy P.L.C. 779,194 3,530,640 Camellia P.L.C. 127 17,776 Cape P.L.C. 162,713 719,800 Capita P.L.C. 112,002 1,770,545 Capital & Counties Properties P.L.C. 218,370 1,214,516 Capital & Regional P.L.C. 398,343 276,010 Carclo P.L.C. 21,100 127,148 Carillion P.L.C. 789,434 3,846,124 Carnival P.L.C. 34,284 1,218,531 # Carnival P.L.C. ADR 150,470 5,356,732 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- UNITED KINGDOM -- (Continued) Carr's Milling Industries P.L.C. 2,672 $ 74,448 Castings P.L.C. 59,187 410,412 Catlin Group, Ltd. 735,993 6,046,183 * Centamin P.L.C. 839,063 675,420 # Centaur Media P.L.C. 79,311 71,291 Centrica P.L.C. 1,628,904 9,212,643 Charles Stanley Group P.L.C. 6,583 48,108 Charles Taylor P.L.C. 11,746 41,944 Chemring Group P.L.C. 348,125 1,214,866 Chesnara P.L.C. 161,194 755,290 Chime Communications P.L.C. 37,972 192,766 Cineworld Group P.L.C. 105,504 627,406 Clarkson P.L.C. 2,836 91,386 Close Brothers Group P.L.C. 255,096 5,166,144 Cobham P.L.C. 1,485,376 6,859,921 Coca-Cola HBC AG ADR 143,627 4,145,075 * Colt Group SA 478,798 946,103 Communisis P.L.C. 156,412 158,344 Compass Group P.L.C. 480,340 6,907,863 Computacenter P.L.C. 136,015 1,289,470 Consort Medical P.L.C. 28,875 411,739 # Costain Group P.L.C. 17,893 81,093 Cranswick P.L.C. 81,119 1,394,674 Creston P.L.C. 18,283 29,404 Croda International P.L.C. 71,595 2,797,766 CSR P.L.C. 340,069 2,995,474 Daily Mail & General Trust P.L.C. 281,785 3,675,267 Dairy Crest Group P.L.C. 258,264 2,224,159 DCC P.L.C. 120,320 5,387,984 De La Rue P.L.C. 60,300 826,450 Debenhams P.L.C. 2,202,395 3,592,823 Dechra Pharmaceuticals P.L.C. 82,383 912,590 Development Securities P.L.C. 209,789 786,451 Devro P.L.C. 231,417 1,175,583 Diageo P.L.C. Sponsored ADR 62,900 8,025,411 Dignity P.L.C. 42,629 952,861 Diploma P.L.C. 169,578 1,883,523 * Dixons Retail P.L.C. 5,833,882 4,570,852 Domino Printing Sciences P.L.C. 156,044 1,728,071 Domino's Pizza Group P.L.C. 40,146 376,490 Drax Group P.L.C. 740,773 7,562,808 DS Smith P.L.C. 1,468,195 7,116,248 Dunelm Group P.L.C. 28,656 406,948 Dyson Group P.L.C 3,999 449 E2V Technologies P.L.C. 76,169 175,852 easyJet P.L.C. 256,886 5,381,030 Electrocomponents P.L.C. 662,505 3,167,253 Elementis P.L.C. 1,014,221 4,210,183 * EnQuest P.L.C. 1,151,651 2,462,185 * Enterprise Inns P.L.C. 1,006,845 2,446,099 * Essar Energy P.L.C. 320,877 611,109 * Eurasian Natural Resources Corp. P.L.C. 412,725 1,487,075 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ------------ UNITED KINGDOM -- (Continued) Euromoney Institutional Investor P.L.C. 30,956 $ 533,813 * Evraz P.L.C. 514,781 972,921 * Exillon Energy P.L.C. 53,186 202,505 Experian P.L.C. 257,349 5,239,267 F&C Asset Management P.L.C. 685,705 1,115,399 Fenner P.L.C. 242,499 1,553,676 Ferrexpo P.L.C. 301,182 874,570 Fiberweb P.L.C. 163,272 266,208 Fidessa Group P.L.C. 28,033 908,907 Filtrona P.L.C. 214,264 2,693,919 * Findel P.L.C. 60,404 246,515 Firstgroup P.L.C. 1,406,037 2,600,292 Fortune Oil P.L.C. 624,352 98,634 Fresnillo P.L.C. 22,205 347,122 Fuller Smith & Turner P.L.C. 42,043 611,055 * Future P.L.C. 361,156 95,571 G4S P.L.C. 1,785,182 7,498,302 Galliford Try P.L.C. 136,717 2,516,944 Games Workshop Group P.L.C. 7,668 95,882 * Gem Diamonds, Ltd. 175,063 446,991 Genus P.L.C. 81,527 1,722,901 GKN P.L.C. 1,771,042 10,432,727 GlaxoSmithKline P.L.C. Sponsored ADR 234,960 12,365,945 Glencore Xstrata P.L.C. 3,168,949 17,246,112 Go-Ahead Group P.L.C. 35,316 951,974 Grafton Group P.L.C. 249,335 2,368,186 Greencore Group P.L.C. 762,688 2,199,012 Greene King P.L.C. 392,721 5,196,795 Greggs P.L.C. 146,703 1,080,959 * Guinness Peat Group P.L.C. 52,296 25,473 Halfords Group P.L.C. 356,609 2,415,276 Halma P.L.C. 286,469 2,516,211 Hansard Global P.L.C. 3,345 6,239 * Hardy Oil & Gas P.L.C. 24,446 41,526 Hargreaves Lansdown P.L.C. 95,656 1,822,274 Harvey Nash Group P.L.C. 28,747 42,522 Hays P.L.C. 958,052 1,912,168 Headlam Group P.L.C. 103,583 658,375 Helical Bar P.L.C. 191,850 923,037 Henderson Group P.L.C. 1,492,312 5,122,355 * Heritage Oil P.L.C. 201,854 599,881 Hikma Pharmaceuticals P.L.C. 212,622 4,090,420 Hill & Smith Holdings P.L.C. 122,691 945,289 Hiscox, Ltd. 556,433 5,907,293 Hochschild Mining P.L.C. 200,765 532,384 Hogg Robinson Group P.L.C. 124,869 152,724 # Home Retail Group P.L.C. 1,648,768 5,260,418 Homeserve P.L.C. 325,852 1,224,309 Hornby P.L.C. 20,303 25,959 Howden Joinery Group P.L.C. 747,488 3,865,761 HSBC Holdings P.L.C. 729,830 7,999,914 # HSBC Holdings P.L.C. Sponsored ADR 1,877,265 103,324,666 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- UNITED KINGDOM -- (Continued) Hunting P.L.C. 205,663 $ 2,938,255 Huntsworth P.L.C. 253,522 265,934 Hyder Consulting P.L.C. 18,277 159,633 ICAP P.L.C. 817,940 5,050,771 IG Group Holdings P.L.C. 380,853 3,743,023 * Imagination Technologies Group P.L.C. 15,749 70,134 IMI P.L.C. 269,338 6,552,708 Imperial Tobacco Group P.L.C. 308,273 11,509,047 Imperial Tobacco Group P.L.C. ADR 16,683 1,251,058 Inchcape P.L.C. 802,222 8,190,603 Informa P.L.C. 886,176 7,938,739 Inmarsat P.L.C. 519,932 6,000,918 * Innovation Group P.L.C. 1,225,629 624,188 InterContinental Hotels Group P.L.C. 11,199 326,310 # InterContinental Hotels Group P.L.C. ADR 84,744 2,487,236 * International Consolidated Airlines Group SA(B5M6XQ7) 1,489,683 8,291,048 * International Consolidated Airlines Group SA(B5282K0) 282,178 1,567,090 * International Consolidated Airlines Group SA Sponsored ADR 12,200 341,966 * International Ferro Metals, Ltd. 20,587 2,910 Interserve P.L.C. 237,517 2,341,090 Intertek Group P.L.C. 68,963 3,679,123 Invensys P.L.C. 711,247 5,707,486 Investec P.L.C. 986,296 6,900,726 * IP Group P.L.C. 316,949 747,131 ITE Group P.L.C. 96,216 497,344 ITV P.L.C. 3,143,342 9,611,019 J Sainsbury P.L.C. 1,164,086 7,363,454 James Fisher & Sons P.L.C. 63,770 1,138,480 Jardine Lloyd Thompson Group P.L.C. 78,947 1,265,273 JD Sports Fashion P.L.C. 17,977 327,562 JD Wetherspoon P.L.C. 168,315 1,903,392 #* JKX Oil & Gas P.L.C. 132,334 158,021 John Menzies P.L.C. 33,322 437,797 John Wood Group P.L.C. 542,091 7,058,246 Johnson Matthey P.L.C. 133,997 6,448,391 * Johnston Press P.L.C. 1,456,828 316,110 Jupiter Fund Management P.L.C. 354,632 2,267,596 # Kazakhmys P.L.C. 307,296 1,292,889 Kcom Group P.L.C. 379,748 610,947 Keller Group P.L.C. 120,806 2,034,818 Kier Group P.L.C. 61,474 1,780,047 Kingfisher P.L.C. 2,296,899 13,894,958 * Kofax P.L.C. 77,229 469,631 Ladbrokes P.L.C. 1,108,019 3,391,429 Laird P.L.C. 456,094 1,824,535 * Lamprell P.L.C. 475,139 1,249,266 Lancashire Holdings, Ltd. 322,157 4,191,990 Latchways P.L.C. 2,464 50,393 Laura Ashley Holdings P.L.C. 224,765 95,271 Lavendon Group P.L.C. 167,605 493,833 Legal & General Group P.L.C. 5,530,641 19,168,133 Liontrust Asset Management P.L.C. 4,633 17,094 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- UNITED KINGDOM -- (Continued) * Lloyds Banking Group P.L.C. 23,313,762 $28,834,377 #* Lloyds Banking Group P.L.C. ADR 777,341 3,910,025 London Stock Exchange Group P.L.C. 221,942 5,833,513 * Lonmin P.L.C. 822,150 4,246,543 Lookers P.L.C. 294,959 614,173 Low & Bonar P.L.C. 135,064 166,716 LSL Property Services P.L.C. 14,831 107,754 Man Group P.L.C. 3,819,892 5,436,548 Management Consulting Group P.L.C. 265,588 104,296 Marks & Spencer Group P.L.C. 1,202,621 9,698,120 Marshalls P.L.C. 95,760 267,333 Marston's P.L.C. 1,182,367 2,878,899 McBride P.L.C. 279,529 490,735 Mears Group P.L.C. 87,741 602,206 Mecom Group P.L.C. 80,270 86,271 Meggitt P.L.C. 1,290,035 11,842,748 Melrose Industries P.L.C. 1,611,553 8,261,950 Michael Page International P.L.C. 115,124 893,614 Micro Focus International P.L.C. 82,867 1,086,123 Millennium & Copthorne Hotels P.L.C. 278,033 2,541,253 * Mitchells & Butlers P.L.C. 366,691 2,355,523 Mitie Group P.L.C. 548,579 2,765,036 MJ Gleeson Group P.L.C. 19,478 97,142 Mondi P.L.C. 581,433 10,382,031 Moneysupermarket.com Group P.L.C. 280,575 689,052 Morgan Advanced Materials P.L.C. 407,131 1,986,022 Morgan Sindall Group P.L.C. 52,794 673,051 * Mothercare P.L.C. 132,987 814,963 N Brown Group P.L.C. 256,760 2,157,699 National Express Group P.L.C. 817,793 3,423,095 National Grid P.L.C. 14,459 181,702 # National Grid P.L.C. Sponsored ADR 167,138 10,517,993 NCC Group P.L.C. 57,054 149,735 # New World Resources P.L.C. Class A 46,188 66,356 Next P.L.C. 64,828 5,661,229 Northgate P.L.C. 146,129 1,059,918 Novae Group P.L.C. 81,626 725,944 #* Ocado Group P.L.C. 307,841 2,142,553 # Old Mutual P.L.C. 4,922,167 16,041,532 * Optos P.L.C. 8,716 21,766 * Oxford Biomedica P.L.C. 264,084 11,527 Oxford Instruments P.L.C. 18,714 390,250 Pace P.L.C. 698,793 3,412,613 PayPoint P.L.C. 18,126 302,396 Pearson P.L.C. Sponsored ADR 607,283 12,752,943 Pendragon P.L.C. 451,753 275,252 Pennon Group P.L.C. 429,349 4,688,421 Persimmon P.L.C. 502,477 10,173,243 * Petra Diamonds, Ltd. 142,424 254,396 Petrofac, Ltd. 74,690 1,751,741 # Petropavlovsk P.L.C. 206,238 264,664 Phoenix Group Holdings 111,159 1,386,175 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- UNITED KINGDOM -- (Continued) Phoenix IT Group, Ltd. 33,310 $ 78,206 Photo-Me International P.L.C. 817,692 1,743,667 * Pinnacle Staffing Group P.L.C. 15,255 -- Premier Farnell P.L.C. 271,406 980,716 * Premier Foods P.L.C. 440,020 1,062,783 Premier Oil P.L.C. 853,159 4,747,193 Prudential P.L.C. 253,291 5,179,991 Prudential P.L.C. ADR 651,676 26,692,649 * Puma Brandenburg, Ltd. Class A 90,186 -- * Puma Brandenburg, Ltd. Class B 90,186 -- * Punch Taverns P.L.C. 883,786 192,063 * PV Crystalox Solar P.L.C. 156,328 31,959 PZ Cussons P.L.C. 263,568 1,663,229 QinetiQ Group P.L.C. 1,001,038 3,177,071 * Quintain Estates & Development P.L.C. 669,195 1,041,878 Randgold Resources, Ltd. 12,728 943,931 Raven Russia Ltd 30,152 37,896 REA Holdings P.L.C. 11,361 72,996 Reckitt Benckiser Group P.L.C. 58,545 4,552,405 Redrow P.L.C. 482,810 2,050,536 Reed Elsevier P.L.C. 7,445 104,292 # Reed Elsevier P.L.C. Sponsored ADR 42,827 2,406,020 Regus PLC 1,015,269 3,331,642 Renishaw P.L.C. 28,314 736,015 * Renovo Group P.L.C. 132,895 41,564 Rentokil Initial P.L.C. 984,314 1,646,743 Resolution, Ltd. 2,554,399 14,625,882 Restaurant Group P.L.C. (The) 257,314 2,374,583 Rexam P.L.C. 1,234,628 10,280,863 Ricardo P.L.C. 31,175 304,776 Rightmove P.L.C. 44,168 1,876,886 Rio Tinto P.L.C. 113,242 5,730,063 # Rio Tinto P.L.C. Sponsored ADR 458,818 23,262,073 RM P.L.C. 31,960 58,604 Robert Walters P.L.C. 96,470 501,424 Rolls-Royce Holdings P.L.C. 809,990 14,922,440 Rotork P.L.C. 38,059 1,743,721 * Royal Bank of Scotland Group P.L.C. 105,606 621,968 #* Royal Bank of Scotland Group P.L.C. Sponsored ADR 469,094 5,525,927 Royal Dutch Shell P.L.C. ADR(780259107) 1,430,280 99,433,066 Royal Dutch Shell P.L.C. ADR(780259206) 364,923 24,325,767 Royal Dutch Shell P.L.C. Class A 8,409 280,060 Royal Dutch Shell P.L.C. Class B 109,362 3,786,113 RPC Group P.L.C. 246,034 2,012,731 RPS Group P.L.C. 375,183 1,748,743 RSA Insurance Group P.L.C. 5,956,138 12,266,832 S&U P.L.C. 2,614 60,935 SABMiller P.L.C. 213,829 11,149,204 Sage Group P.L.C. (The) 1,573,438 8,488,245 * Salamander Energy P.L.C. 339,893 585,370 Savills P.L.C. 187,548 1,953,693 Schroders P.L.C.(0239581) 58,179 1,984,918 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- UNITED KINGDOM -- (Continued) Schroders P.L.C.(0240549) 142,754 $ 5,891,793 SDL P.L.C. 135,257 546,851 Senior P.L.C. 588,988 2,810,800 Serco Group P.L.C. 328,894 2,938,955 Severfield-Rowen P.L.C. 407,213 415,924 Severn Trent P.L.C. 176,612 5,271,817 Shanks Group P.L.C. 753,270 1,275,306 Shire P.L.C. 41,702 1,849,083 Shire P.L.C. ADR 28,741 3,825,427 SIG P.L.C. 1,194,162 3,940,366 * Skyepharma P.L.C. Sponsored ADR 80 123 Smith & Nephew P.L.C. 128,249 1,640,258 # Smith & Nephew P.L.C. Sponsored ADR 42,864 2,752,297 Smiths Group P.L.C. 198,939 4,578,657 Smiths News P.L.C. 218,873 737,970 Soco International P.L.C. 336,959 2,149,866 Spectris P.L.C. 141,763 5,249,163 Speedy Hire P.L.C. 426,031 444,622 Spirax-Sarco Engineering P.L.C. 55,428 2,592,010 Spirent Communications P.L.C. 1,966,676 3,484,934 Spirent Communications P.L.C. ADR 25,100 175,951 Spirit Pub Co. P.L.C. 953,508 1,119,555 * Sportech P.L.C. 87,812 122,493 * Sports Direct International P.L.C. 145,139 1,631,084 SSE P.L.C. 466,918 10,592,106 St Ives P.L.C. 67,950 196,544 St James's Place P.L.C. 271,084 2,934,351 ST Modwen Properties P.L.C. 284,457 1,606,536 Stagecoach Group P.L.C. 517,907 2,922,186 Standard Chartered P.L.C. 1,125,564 27,024,772 Standard Life P.L.C. 2,161,438 12,194,173 Sthree P.L.C. 69,781 401,170 # Stobart Group, Ltd. 53,239 121,115 * STV Group P.L.C. 56,141 283,826 * SuperGroup P.L.C. 24,089 452,775 Synergy Health P.L.C. 81,357 1,350,682 Synthomer P.L.C. 311,207 1,213,426 T Clarke P.L.C. 26,802 28,784 TalkTalk Telecom Group P.L.C. 492,153 2,106,772 Tate & Lyle P.L.C. 407,706 5,174,168 Taylor Wimpey P.L.C. 5,403,266 9,533,339 Ted Baker P.L.C. 12,672 346,119 Telecity Group P.L.C. 139,195 1,701,717 Telecom Plus P.L.C. 21,634 534,587 Tesco P.L.C. 5,453,611 31,811,663 * Thomas Cook Group P.L.C. 2,231,312 5,135,525 * Thorntons P.L.C. 37,958 69,632 Topps Tiles P.L.C. 45,627 64,645 Travis Perkins P.L.C. 402,896 11,981,136 Tribal Group P.L.C. 44,362 133,365 Trifast P.L.C. 36,432 46,097 * Trinity Mirror P.L.C. 539,440 1,151,530 INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- -------------- UNITED KINGDOM -- (Continued) TT electronics P.L.C. 283,391 $ 904,542 TUI Travel P.L.C. 686,163 4,230,156 Tullett Prebon P.L.C. 397,202 2,023,279 Tullow Oil P.L.C. 229,756 3,472,810 UBM P.L.C. 59,091 646,842 UDG Healthcare P.L.C. 327,606 1,635,568 UK Mail Group P.L.C. 12,676 118,668 Ultra Electronics Holdings P.L.C. 63,037 1,954,757 Unilever P.L.C. 17,957 728,175 # Unilever P.L.C. Sponsored ADR 120,000 4,870,800 Unite Group P.L.C. 249,485 1,585,865 United Utilities Group P.L.C. 457,936 5,179,214 # United Utilities Group P.L.C. ADR 10,818 246,109 UTV Media P.L.C. 119,515 435,806 * Vectura Group P.L.C. 491,445 869,219 Vedanta Resources P.L.C. 183,060 3,118,966 * Vernalis P.L.C. 11,473 5,279 Vesuvius P.L.C. 570,260 4,433,322 Victrex P.L.C. 40,288 1,064,719 Vislink P.L.C. 11,896 9,307 Vitec Group P.L.C. (The) 22,412 251,944 Vodafone Group P.L.C. 742,546 2,719,766 Vodafone Group P.L.C. Sponsored ADR 2,394,771 88,175,468 # Volex P.L.C. 18,246 36,346 Vp P.L.C. 11,576 92,175 Weir Group P.L.C. (The) 136,924 4,945,451 WH Smith P.L.C. 162,641 2,347,168 Whitbread P.L.C. 190,972 10,501,756 William Hill P.L.C. 1,260,604 8,093,659 Wilmington Group P.L.C. 141,363 488,983 * Wincanton P.L.C. 58,198 118,569 WM Morrison Supermarkets P.L.C. 2,408,347 10,866,521 * Wolfson Microelectronics P.L.C. 192,246 432,000 Wolseley P.L.C. 272,272 14,656,665 # Wolseley P.L.C. ADR 57,552 311,356 WPP P.L.C. 443,647 9,423,469 # WPP P.L.C. Sponsored ADR 134,635 14,344,013 WS Atkins P.L.C. 90,312 1,786,574 Xaar P.L.C. 24,829 333,508 Xchanging P.L.C. 412,643 837,735 # XP Power, Ltd. 3,794 95,722 -------------- TOTAL UNITED KINGDOM 1,867,900,875 -------------- UNITED STATES -- (0.0%) * McEwen Mining - Minera Andes Andes Acquisition Corp. 112,338 234,879 * Swisher Hygiene, Inc. 5,378 3,247 #* Ur-Energy, Inc. 68,325 72,739 -------------- TOTAL UNITED STATES 310,865 -------------- TOTAL COMMON STOCKS 9,428,922,059 -------------- INTERNATIONAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ----------- --------------- PREFERRED STOCKS -- (0.1%) FRANCE -- (0.0%) * Valneva SE 9,569 $ 5,197 --------------- GERMANY -- (0.1%) Porsche Automobil Holding SE 55,763 5,206,955 --------------- UNITED KINGDOM -- (0.0%) McBride P.L.C. 9,224,457 14,791 Rolls-Royce Holdings P.L.C. 69,659,140 111,691 --------------- TOTAL UNITED KINGDOM 126,482 --------------- TOTAL PREFERRED STOCKS 5,338,634 --------------- RIGHTS/WARRANTS -- (0.0%) AUSTRALIA -- (0.0%) * Centrebet International, Ltd. Litigation Rights 22,005 -- --------------- AUSTRIA -- (0.0%) * Intercell AG Rights 05/16/13 29,444 -- --------------- FRANCE -- (0.0%) * Groupe Fnac Rights 05/16/15 4 13 --------------- HONG KONG -- (0.0%) * Emperor Capital Group, Ltd. Rights 11/22/13 34 -- * New Hotel Rights 12/31/13 53,313 -- --------------- TOTAL HONG KONG -- --------------- ITALY -- (0.0%) #* Hera SpA Rights 11/19/13 653,950 11,809 * Seat Pagine Gialle SpA Warrants 08/31/14 1,199,818 -- --------------- TOTAL ITALY 11,809 --------------- SPAIN -- (0.0%) * Banco Santander SA Rights 10/30/13 3,256,137 702,942 --------------- TOTAL RIGHTS/WARRANTS 714,764 --------------- SHARES/ FACE AMOUNT (000) VALUE+ ----------- --------------- SECURITIES LENDING COLLATERAL -- (10.2%) (S)@ DFA Short Term Investment Fund 92,912,705 1,075,000,000 @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $5,584,879 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $5,050,512) to be repurchased at $4,951,499 $ 4,951 4,951,482 --------------- TOTAL SECURITIES LENDING COLLATERAL 1,079,951,482 --------------- TOTAL INVESTMENTS -- (100.0%) (Cost $9,059,936,275) $10,514,926,939 =============== DFA INTERNATIONAL REAL ESTATE SECURITIES PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 SHARES VALUE++ ---------- ------------ COMMON STOCKS -- (92.5%) AUSTRALIA -- (22.0%) # Abacus Property Group 1,709,856 $ 3,768,866 # ALE Property Group 1,027,874 2,594,211 Ardent Leisure Group 1,592,012 2,989,513 Aspen Group 688,242 1,073,311 # Astro Japan Property Group 287,520 979,605 Australian Education Trust 552,187 817,339 # BWP Trust 3,159,857 6,877,680 Carindale Property Trust 99,428 521,619 # CFS Retail Property Trust Group 14,158,196 27,708,920 Challenger Diversified Property Group 657,370 1,620,567 # Charter Hall Group 1,364,140 4,986,813 Charter Hall Office 2,059,687 2,044 # Charter Hall Retail REIT 1,934,267 7,384,931 # Commonwealth Property Office Fund 14,987,556 16,956,375 # Cromwell Property Group 6,233,346 5,856,582 # Dexus Property Group 31,023,121 31,793,162 Federation Centres, Ltd. 9,501,422 22,298,352 Goodman Group 11,297,147 53,988,920 # GPT Group 11,394,986 39,714,768 * GPT Group (B3WX9L1) 38,018,670 -- Growthpoint Properties Australia 14,470 35,558 # Growthpoint Properties Australia, Ltd. 281,649 693,979 # Ingenia Communities Group 3,071,982 1,409,740 Investa Office Fund 3,957,702 11,618,583 Mirvac Industrial Trust 826,524 109,336 * Prime Retirement & Aged Care Property Trust 116,309 -- * Rubicon Europe Trust Group (RET) 505,643 -- # Shopping Centres Australasia Property Group 3,835,140 5,775,660 # Stockland 15,300,798 57,991,976 # Westfield Group 13,915,226 142,401,443 Westfield Retail Trust 19,622,341 57,248,805 ------------ TOTAL AUSTRALIA 509,218,658 ------------ BELGIUM -- (1.5%) # Aedifica 46,509 3,170,775 Befimmo SCA Sicafi 102,241 7,326,674 Cofinimmo 114,585 13,840,283 Intervest Offices & Warehouses 40,532 1,063,191 Leasinvest Real Estate SCA 10,889 1,085,850 Retail Estates NV 15,478 1,173,116 Warehouses De Pauw SCA 68,965 5,117,570 Wereldhave Belgium NV 10,561 1,195,906 ------------ TOTAL BELGIUM 33,973,365 ------------ CANADA -- (5.9%) # Allied Properties REIT 218,535 7,031,937 # Artis REIT 415,140 5,741,446 Boardwalk REIT 162,400 9,237,946 Brookfield Canada Office Properties 52,275 1,282,496 Calloway REIT 383,542 9,233,112 DFA INTERNATIONAL REAL ESTATE SECURITIES PORTFOLIO CONTINUED SHARES VALUE++ --------- ------------ CANADA -- (Continued) Canadian Apartment Properties REIT 338,489 $ 6,989,563 Canadian REIT 240,202 9,784,088 # Chartwell Retirement Residences 572,887 5,890,134 # Cominar REIT 400,031 7,285,847 # Crombie REIT 176,580 2,243,979 Dundee REIT Class A 341,763 9,476,208 # Granite REIT 146,004 5,071,946 # H&R REIT 921,949 19,099,509 Huntingdon Capital Corp. 2,597 30,263 # InnVest REIT 293,143 1,144,288 # InterRent REIT 103,135 579,649 Morguard REIT 189,015 3,081,816 Northern Property REIT 103,654 2,783,592 # NorthWest Healthcare Properties REIT 120,169 1,272,398 # Partners REIT 104,000 628,399 Plazacorp Retail Properties, Ltd. 2,154 8,759 # Pure Industrial Real Estate Trust 525,983 2,335,684 Retrocom Mid-Market REIT 183,686 854,436 # RioCan REIT 1,063,614 25,961,709 ------------ TOTAL CANADA 137,049,204 ------------ CHINA -- (0.2%) * RREEF China Commercial Trust 1,392,000 3,770 # Yuexiu REIT 9,640,000 4,860,486 ------------ TOTAL CHINA 4,864,256 ------------ FRANCE -- (4.3%) # Acanthe Developpement SA 193,988 113,273 Affine SA 35,356 686,420 # ANF Immobilier 32,636 979,664 Argan 5,789 109,761 Cegereal 15,742 510,568 Fonciere Des Regions 190,204 16,289,188 Gecina SA 156,246 20,850,380 ICADE 237,301 21,826,829 Klepierre 704,513 31,598,250 Mercialys SA 230,836 4,980,163 Societe de la Tour Eiffel 39,461 2,649,878 Terreis 1,329 36,058 ------------ TOTAL FRANCE 100,630,432 ------------ GERMANY -- (0.4%) Alstria Office REIT-AG 400,205 5,065,778 Hamborner REIT AG 282,377 2,808,497 * Prime Office REIT-AG 114,387 499,914 ------------ TOTAL GERMANY 8,374,189 ------------ GREECE -- (0.0%) * Eurobank Properties Real Estate Investment Co. 58,229 710,872 ------------ DFA INTERNATIONAL REAL ESTATE SECURITIES PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- HONG KONG -- (4.0%) # Champion REIT 15,786,012 $ 7,035,805 # Link REIT (The) 15,583,305 78,594,514 Prosperity REIT 7,688,000 2,309,322 # Regal REIT 5,994,000 1,778,997 # Sunlight REIT 6,656,000 2,624,410 ----------- TOTAL HONG KONG 92,343,048 ----------- ISRAEL -- (0.2%) Alony Hetz Properties & Investments, Ltd. 386,590 2,611,809 # Reit 1, Ltd. 584,022 1,410,954 Sella Capital Real Estate, Ltd. 43,024 74,039 ----------- TOTAL ISRAEL 4,096,802 ----------- ITALY -- (0.2%) # Beni Stabili SpA 6,374,648 4,363,852 Immobiliare Grande Distribuzione 979,945 1,168,316 ----------- TOTAL ITALY 5,532,168 ----------- JAPAN -- (16.6%) # Advance Residence Investment Corp. 8,537 19,327,474 # Daiwa Office Investment Corp. 1,499 6,639,500 # Daiwahouse Residential Investment Corp. 1,965 8,131,604 Frontier Real Estate Investment Corp. 1,623 16,216,774 Fukuoka REIT Co. 764 6,303,527 # Global One Real Estate Investment Corp. 615 3,624,361 Hankyu Reit, Inc. 607 3,494,039 Heiwa Real Estate REIT, Inc. 4,052 3,224,784 Ichigo Real Estate Investment Corp. 4,112 2,564,986 # Industrial & Infrastructure Fund Investment Corp. 892 8,253,260 # Invincible Investment Corp. 4,006 550,863 Japan Excellent, Inc. 1,338 8,272,110 # Japan Hotel REIT Investment Corp. 15,962 7,530,502 # Japan Logistics Fund, Inc. 927 9,641,854 # Japan Prime Realty Investment Corp. 5,422 18,018,058 Japan Real Estate Investment Corp. 4,121 47,081,579 # Japan Rental Housing Investments, Inc. 4,901 3,573,718 # Japan Retail Fund Investment Corp. 14,487 29,340,812 # Kenedix Realty Investment Corp. 1,959 8,800,254 Kenedix Residential Investment Corp. 527 1,132,086 MID Reit, Inc. 1,172 2,702,650 Mori Hills REIT Investment Corp. 1,392 9,769,120 # Mori Trust Sogo Reit, Inc. 1,265 11,250,428 Nippon Accommodations Fund, Inc. 1,470 10,539,320 Nippon Building Fund, Inc. 4,863 60,159,679 # Nomura Real Estate Office Fund, Inc. 2,509 12,394,468 # Nomura Real Estate Residential Fund, Inc. 945 5,433,486 # Orix JREIT, Inc. 10,968 13,677,853 # Premier Investment Corp. 1,332 5,455,666 # Sekisui House SI Investment Co. 968 4,876,916 Starts Proceed Investment Corp. 117 205,434 Tokyu REIT, Inc. 1,229 7,593,885 DFA INTERNATIONAL REAL ESTATE SECURITIES PORTFOLIO CONTINUED SHARES VALUE++ ---------- ------------ JAPAN -- (Continued) # Top REIT, Inc. 932 $ 4,349,070 # United Urban Investment Corp. 16,307 24,888,305 ------------ TOTAL JAPAN 385,018,425 ------------ MALAYSIA -- (0.6%) Al-Hadharah Boustead REIT 451,400 296,129 Amanahraya REIT 609,800 196,963 AmFirst REIT 1,694,840 553,352 Axis REIT 1,792,934 1,931,950 CapitaMalls Malaysia Trust 6,329,400 3,026,946 Hektar REIT 125,525 60,458 IGB REIT 3,170,500 1,205,376 KLCC Property Holdings Bhd 880,600 1,801,668 Quill Capita Trust 564,400 211,063 Starhill REIT 2,342,700 749,899 Sunway REIT 7,697,600 3,243,059 Tower REIT 434,900 212,664 ------------ TOTAL MALAYSIA 13,489,527 ------------ MEXICO -- (1.2%) Fibra Uno Administracion S.A. de C.V. 8,782,987 27,195,974 ------------ NETHERLANDS -- (9.3%) Corio NV 482,308 20,995,100 Eurocommercial Properties NV 237,981 10,111,652 # Nieuwe Steen Investments NV 368,651 2,779,576 # Unibail-Rodamco SE 633,736 165,575,512 Vastned Retail NV 125,324 5,791,522 Wereldhave NV 147,230 11,439,812 ------------ TOTAL NETHERLANDS 216,693,174 ------------ NEW ZEALAND -- (0.7%) # Argosy Property, Ltd. 3,428,153 2,603,943 # DNZ Property Fund, Ltd. 515,989 669,145 # Goodman Property Trust 4,960,283 4,215,921 # Kiwi Income Property Trust 5,250,958 4,746,653 NPT, Ltd. 45,944 23,144 Precinct Properties New Zealand, Ltd. 1,282,446 1,053,318 # Property for Industry, Ltd. 832,584 901,467 # Vital Healthcare Property Trust 1,292,658 1,377,667 ------------ TOTAL NEW ZEALAND 15,591,258 ------------ SINGAPORE -- (7.9%) # AIMS AMP Capital Industrial REIT 2,434,120 3,094,750 Ascendas India Trust 2,943,000 1,515,797 Ascendas REIT 13,941,000 26,506,474 Ascott Residence Trust 4,479,000 4,712,029 Cache Logistics Trust 4,699,000 4,512,712 Cambridge Industrial Trust 7,478,231 4,206,863 # CapitaCommercial Trust 13,721,000 16,235,902 CapitaMall Trust 16,554,300 26,887,384 DFA INTERNATIONAL REAL ESTATE SECURITIES PORTFOLIO CONTINUED SHARES VALUE++ ---------- ------------ SINGAPORE -- (Continued) # CapitaRetail China Trust 3,183,000 $ 3,569,693 CDL Hospitality Trusts 4,131,000 5,532,623 First REIT 3,199,000 2,852,590 # Fortune REIT 4,890,000 3,950,844 Frasers Centrepoint Trust 3,238,000 4,826,046 # Frasers Commercial Trust 3,295,200 3,416,768 Keppel REIT 9,584,526 9,299,560 Lippo Malls Indonesia Retail Trust 9,391,000 3,397,248 Mapletree Commercial Trust 8,167,000 8,262,786 # Mapletree Industrial Trust 7,715,000 8,577,208 Mapletree Logistics Trust 9,991,430 8,798,137 # Parkway Life REIT 2,327,000 4,555,270 # Sabana Shari'ah Compliant Industrial Real Estate Investment Trust 1,301,000 1,141,029 # Saizen REIT 7,958,000 1,171,092 Starhill Global REIT 9,642,000 6,280,263 # Suntec REIT 14,521,000 19,986,435 ------------ TOTAL SINGAPORE 183,289,503 ------------ SOUTH AFRICA -- (2.1%) Acucap Properties, Ltd. 459,449 2,153,043 Capital Property Fund 9,423,574 10,037,894 Emira Property Fund 2,883,138 4,289,733 Fountainhead Property Trust 7,183,721 5,527,432 Growthpoint Properties, Ltd. 4,050,442 10,299,808 Hyprop Investments, Ltd. 141,454 1,047,594 Investec Property Fund, Ltd. 45,712 70,084 Rebosis Property Fund, Ltd. 421,641 504,102 # Redefine Properties, Ltd. 3,432,358 3,519,710 Resilient Property Income Fund, Ltd. 815,037 4,460,622 SA Corporate Real Estate Fund Nominees Pty, Ltd. 8,419,388 3,364,988 Sycom Property Fund 982,146 2,589,384 Vividend Income Fund, Ltd. 488,710 242,935 Vukile Property Fund, Ltd. 828,488 1,435,956 ------------ TOTAL SOUTH AFRICA 49,543,285 ------------ TAIWAN -- (0.6%) Cathay No. 1 REIT 8,583,000 5,821,995 Cathay No. 2 REIT 3,622,000 2,088,253 Fubon No. 1 REIT 1,016,000 586,777 Fubon No. 2 REIT 3,822,000 1,777,504 Gallop No. 1 REIT 2,207,000 1,226,453 Shin Kong No.1 REIT 4,652,000 2,244,237 ------------ TOTAL TAIWAN 13,745,219 ------------ TURKEY -- (0.6%) * Akfen Gayrimenkul Yatirim Ortakligi A.S. 339,253 244,637 Akmerkez Gayrimenkul Yatirim Ortakligi A.S. 104,076 827,297 # Alarko Gayrimenkul Yatirim Ortakligi A.S. 35,937 382,638 * Dogus Gayrimenkul Yatirim Ortakligi A.S. 350,514 930,883 # Emlak Konut Gayrimenkul Yatirim Ortakligi A.S. 4,275,390 6,123,273 # Is Gayrimenkul Yatirim Ortakligi A.S. 2,070,269 1,489,692 DFA INTERNATIONAL REAL ESTATE SECURITIES PORTFOLIO CONTINUED SHARES VALUE++ ----------- -------------- TURKEY -- (Continued) #* Nurol Gayrimenkul Yatirim Ortakligi A.S. 74,764 $ 216,056 * Saf Gayrimenkul Yatirim Ortakligi A.S. 1,503,506 780,089 Sinpas Gayrimenkul Yatirim Ortakligi A.S. 1,210,163 665,680 Torunlar Gayrimenkul Yatirim Ortakligi A.S. 1,094,028 2,093,192 #* Vakif Gayrimenkul Yatirim Ortakligi A.S. 294,818 1,367,130 -------------- TOTAL TURKEY 15,120,567 -------------- UNITED KINGDOM -- (14.2%) Assura Group, Ltd. 303,102 175,113 Big Yellow Group P.L.C. 803,704 6,019,401 British Land Co. P.L.C. 6,331,990 63,151,477 Derwent London P.L.C. 601,385 24,139,933 Great Portland Estates P.L.C. 2,280,278 20,924,819 Hammerson P.L.C. 4,812,805 40,782,360 Hansteen Holdings P.L.C. 3,850,387 6,384,206 Intu Properties P.L.C. 4,019,223 22,167,268 Land Securities Group P.L.C. 5,251,976 83,254,870 Londonmetric Property P.L.C. 3,211,788 6,634,109 McKay Securities P.L.C. 287,070 849,526 Mucklow A & J Group P.L.C. 275,817 2,103,297 Primary Health Properties P.L.C. 472,602 2,454,586 Safestore Holdings P.L.C. 1,049,440 2,490,328 Segro P.L.C. 4,883,720 25,578,649 Shaftesbury P.L.C. 1,638,837 15,605,115 Town Centre Securities P.L.C. 15,932 56,100 Workspace Group P.L.C. 701,915 5,502,113 -------------- TOTAL UNITED KINGDOM 328,273,270 -------------- TOTAL COMMON STOCKS 2,144,753,196 -------------- RIGHTS/WARRANTS -- (0.0%) SINGAPORE -- (0.0%) * CapitaRetail China Trust Rights 11/13/13 190,980 14,606 -------------- SHARES/ FACE AMOUNT (000) VALUE+ ----------- -------------- SECURITIES LENDING COLLATERAL -- (7.5%) (S)@ DFA Short Term Investment Fund 15,038,894 174,000,000 @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $77,480 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $70,067) to be repurchased at $68,693 $ 69 68,693 -------------- TOTAL SECURITIES LENDING COLLATERAL 174,068,693 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $2,051,425,581) $2,318,836,495 ============== DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 SHARES VALUE++ ---------- ----------- COMMON STOCKS -- (91.3%) AUSTRALIA -- (5.0%) #* Aditya Birla Minerals, Ltd. 3,394,541 $ 1,091,484 #* AED Oil, Ltd. 992,337 -- * AJ Lucas Group, Ltd. 584,687 661,440 Amalgamated Holdings, Ltd. 1,796,125 13,771,370 # Amcom Telecommunications, Ltd. 411,395 805,397 AP Eagers, Ltd. 429,657 1,910,970 #* APN News & Media, Ltd. 8,524,586 3,743,135 #* Aquarius Platinum, Ltd. 910,133 595,655 Arrium, Ltd. 21,554,871 28,162,924 #* ASG Group, Ltd. 311,883 119,608 # Atlas Iron, Ltd. 13,651,759 13,304,218 # Ausdrill, Ltd. 989,943 1,430,375 # Ausenco, Ltd. 17,314 26,924 #* Austal, Ltd. 508,112 362,324 #* Australian Agricultural Co., Ltd. 10,083,640 10,725,218 Australian Pharmaceutical Industries, Ltd. 6,609,381 4,031,059 * AVJennings, Ltd. 40,111 23,131 * AWE, Ltd. 9,864,655 11,638,643 # Bank of Queensland, Ltd. 29,665 338,402 Beach Energy, Ltd. 23,860,593 32,228,454 #* Billabong International, Ltd. 6,953,066 2,587,406 * BlueScope Steel, Ltd. 7,748,619 36,549,293 # Boart Longyear, Ltd. 2,805,992 1,137,277 #* Boom Logistics, Ltd. 4,390,311 768,596 Breville Group, Ltd. 1,323,423 10,065,624 # Brickworks, Ltd. 454,518 6,137,936 BSA, Ltd. 158,007 19,519 Calliden Group, Ltd. 1,458,137 504,993 #* Cape Lambert Resources, Ltd. 7,444,989 911,624 * Carnarvon Petroleum, Ltd. 40,276 2,815 * CDS Technologies, Ltd. 15,209 -- * Citigold Corp., Ltd. 11,406,919 524,109 Clough, Ltd. 56,626 77,725 #* Coal of Africa, Ltd. 926,247 119,960 Cockatoo Coal, Ltd.() 1,641,450 88,431 #* Cockatoo Coal, Ltd.(B0PB4N8) 1,256,726 68,128 * Coffey International, Ltd. 1,029,250 237,998 Collection House, Ltd. 25,620 41,659 * Cooper Energy, Ltd. 2,468,890 1,002,749 Coventry Group, Ltd. 578,498 1,569,911 # Crowe Horwath Australasia, Ltd. 3,169,818 1,876,144 # CSG, Ltd. 323,344 298,499 # CSR, Ltd. 9,522,216 22,481,314 * Deep Yellow, Ltd. 1,821,001 34,206 * Devine, Ltd. 1,483,785 1,405,605 Downer EDI, Ltd. 5,154,982 23,950,011 # Echo Entertainment Group, Ltd. 485,011 1,217,292 #* Elders, Ltd. 9,301,839 1,008,743 # Emeco Holdings, Ltd. 11,367,540 3,698,644 #* Energy Resources of Australia, Ltd. 2,799,901 3,388,685 * Eservglobal, Ltd. 205,010 102,782 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- AUSTRALIA -- (Continued) # Evolution Mining, Ltd. 460,693 $ 364,059 # Fairfax Media, Ltd. 30,165,023 17,223,406 FKP Property Group(6349699) 2,684,660 4,712,248 FKP Property Group(BG49KV5) 1,713,397 3,028,310 #* Focus Minerals, Ltd. 3,332,343 40,812 Gazal Corp., Ltd. 38,189 105,407 * Geodynamics, Ltd. 1,120,071 95,571 # Goodman Fielder, Ltd. 37,803,693 27,170,325 GrainCorp, Ltd. Class A 2,085,914 24,320,109 # Grange Resources, Ltd. 2,431,723 494,040 #* Gunns, Ltd. 15,479,938 -- HFA Holdings, Ltd. 153,930 108,265 HGL, Ltd. 137,263 72,328 #* Hillgrove Resources, Ltd. 10,395,514 882,137 Hills Holdings, Ltd. 2,756,661 4,762,867 Imdex, Ltd. 38,169 25,962 * Indophil Resources NL 1,863,584 272,452 #* Infigen Energy, Ltd. 5,225,320 1,285,053 # K&S Corp., Ltd. 157,223 256,700 #* Kagara, Ltd. 11,222,734 1,272,860 # Kingsgate Consolidated, Ltd. 673,145 904,708 * Lednium, Ltd. 438,495 -- Lemarne Corp., Ltd. 5,585 2,349 * Leyshon Resources, Ltd. 48,774 5,744 #* Linc Energy, Ltd. 1,893,514 2,566,541 # Lonestar Resources, Ltd. 1,221,060 317,531 * Macmahon Holdings, Ltd. 12,017,712 1,705,258 Macquarie Telecom Group, Ltd. 6,754 53,928 MaxiTRANS Industries, Ltd. 4,380,537 4,553,140 # McPherson's, Ltd. 1,553,082 1,979,453 * MEO Australia, Ltd. 1,258,809 80,947 * Metals X, Ltd. 820,020 123,608 * Metgasco, Ltd. 646,617 79,736 # Mincor Resources NL 2,370,883 1,264,170 #* Mineral Deposits, Ltd. 565,509 1,670,094 #* Mirabela Nickel, Ltd. 3,588,940 54,273 #* Molopo Energy, Ltd. 1,648,921 327,053 Mount Gibson Iron, Ltd. 10,950,103 9,184,635 * Nexus Energy, Ltd. 22,310,822 1,643,843 * Northern Iron, Ltd. 115,112 30,851 # NRW Holdings, Ltd. 85,347 112,693 # Nufarm, Ltd. 2,987,945 13,779,089 Oakton, Ltd. 9,304 15,522 * OM Holdings, Ltd. 323,217 97,810 * Otto Energy, Ltd. 1,354,768 140,578 # OZ Minerals, Ltd. 801,691 2,732,596 Pacific Brands, Ltd. 25,649,033 17,083,638 #* Paladin Energy, Ltd. 12,753,197 5,038,019 * Pan Pacific Petroleum NL 453,105 50,817 # Panoramic Resources, Ltd. 3,163,719 973,217 #* PaperlinX, Ltd. 11,057,911 553,704 #* Perilya, Ltd. 379,170 121,903 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ ---------- ------------ AUSTRALIA -- (Continued) * Petsec Energy, Ltd. 229,867 $ 20,839 #* Platinum Australia, Ltd. 1,963,690 54,083 * PMP, Ltd. 6,456,626 2,462,351 # Premier Investments, Ltd. 1,553,481 11,707,272 # Primary Health Care, Ltd. 10,254,873 47,843,315 Prime Media Group, Ltd. 1,812,495 1,728,729 # PrimeAg Australia, Ltd. 1,407,029 588,061 # Programmed Maintenance Services, Ltd. 1,923,696 5,013,277 #* Ramelius Resources, Ltd. 2,068,208 261,431 # RCR Tomlinson, Ltd. 121,556 407,405 # Regional Express Holdings, Ltd. 21,861 21,313 Resolute Mining, Ltd. 1,789,110 1,083,059 #* Resource Generation, Ltd. 607,387 132,354 # Ridley Corp., Ltd. 8,052,689 6,499,018 * Roc Oil Co., Ltd. 1,734,273 793,315 * Saracen Mineral Holdings, Ltd. 1,219,967 269,127 # Select Harvests, Ltd. 268,256 1,066,514 Service Stream, Ltd. 2,847,386 617,207 # Seven Group Holdings, Ltd. 568,548 4,478,282 Seven West Media, Ltd. 3,243,404 7,727,755 Sigma Pharmaceuticals, Ltd. 13,570,604 7,315,097 #* Sims Metal Management, Ltd. 57,360 543,328 Southern Cross Media Group, Ltd. 10,034,456 17,906,621 * Straits Resources, Ltd. 1,505,686 12,718 # STW Communications Group, Ltd. 3,491,470 5,251,987 # Sunland Group, Ltd. 5,108,129 7,729,565 Swick Mining Services, Ltd. 440,732 139,727 #* Tap Oil, Ltd. 5,076,579 2,612,433 Tassal Group, Ltd. 1,633,424 4,801,362 #* Ten Network Holdings, Ltd. 13,067,286 3,463,575 TFS Corp., Ltd. 299,758 212,788 * Toro Energy, Ltd. 2,101,506 164,695 # Transfield Services, Ltd. 4,843,556 6,108,994 * Transpacific Industries Group, Ltd. 16,723,581 18,100,167 * Unity Mining, Ltd. 8,423,723 484,508 UXC, Ltd. 4,632,797 4,177,155 Village Roadshow, Ltd. 3,141,833 20,870,955 #* Virgin Australia Holdings, Ltd. 39,419,376 15,476,466 Virgin Australia Holdings, Ltd. (B7L5734) 39,419,376 37 * Watpac, Ltd. 1,651,319 1,539,729 WDS, Ltd. 374,097 297,096 * WestSide Corp., Ltd. 3,381 640 #* Whitehaven Coal, Ltd. 537,567 823,439 ------------ TOTAL AUSTRALIA 611,396,557 ------------ AUSTRIA -- (0.8%) #* A-TEC Industries AG 202,339 -- Agrana Beteiligungs AG 90,580 11,044,348 Austria Technologie & Systemtechnik AG 97,894 933,138 # Flughafen Wien AG 201,386 15,535,797 Frauenthal Holding AG 4,402 55,072 Linz Textil Holding AG 212 142,832 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- AUSTRIA -- (Continued) Mayr Melnhof Karton AG 51,373 $ 5,729,025 Oberbank AG 38,337 2,499,165 POLYTEC Holding AG 20,898 201,163 # Strabag SE 300,558 7,900,177 # UNIQA Insurance Group AG 150,914 1,844,988 # Wienerberger AG 2,775,318 48,140,566 * Wolford AG 2,273 60,606 Zumtobel AG 26,519 473,237 ----------- TOTAL AUSTRIA 94,560,114 ----------- BELGIUM -- (0.7%) Ackermans & van Haaren NV 33,385 3,615,684 * AGFA-Gevaert NV 4,354,728 10,341,584 # Banque Nationale de Belgique 4,407 17,279,509 Cie d'Entreprises CFE 10,573 835,478 Cie Immobiliere de Belgique SA 44,959 2,196,148 Cie Maritime Belge SA 87,029 2,316,504 D'ieteren SA 207,657 9,785,587 #* Deceuninck NV 1,187,588 2,819,581 #* Euronav NV 339,433 2,391,283 * Floridienne SA 1,804 168,859 Gimv NV 11,403 577,923 Jensen-Group NV 39,834 586,174 # NV Bekaert SA 261,974 10,969,592 # Nyrstar 2,045,802 8,394,001 * Papeteries Catala SA 188 1,510 * RealDolmen NV/SA 12,927 303,208 Recticel SA 491,207 3,297,658 * RHJ International 178,366 932,794 * Roularta Media Group NV 26,889 431,564 Sapec 4,163 264,518 Sioen Industries NV 100,174 1,186,645 # Tessenderlo Chemie NV 451,649 11,305,457 ----------- TOTAL BELGIUM 90,001,261 ----------- CANADA -- (8.1%) #* 5N Plus, Inc. 364,982 955,643 Aastra Technologies, Ltd. 73,226 1,991,742 * Advantage Oil & Gas, Ltd. 4,607,988 18,738,665 Aecon Group, Inc. 907,835 12,581,610 # AGF Management, Ltd. Class B 1,046,497 13,820,806 * AgJunction, Inc. 913,927 902,839 Aimia, Inc. 1,307,375 23,109,309 #* Ainsworth Lumber Co., Ltd. 639,841 2,417,852 #* Air Canada Class A 391,135 2,157,029 Akita Drilling, Ltd. Class A 9,400 138,388 Alacer Gold Corp. 1,140,315 3,160,706 Algoma Central Corp. 245,010 3,564,765 # Alliance Grain Traders, Inc. 153,192 2,365,503 * Altius Minerals Corp. 85,248 884,653 Amerigo Resources, Ltd. 2,524,794 968,607 * Anderson Energy, Ltd. 3,417,571 475,277 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- CANADA -- (Continued) Andrew Peller, Ltd. Class A 12,423 $ 164,425 #* Angle Energy, Inc. 781,791 2,811,793 * Antrim Energy, Inc. 2,742,871 249,914 * Atrium Innovations, Inc. 277,811 5,059,829 * ATS Automation Tooling Systems, Inc. 1,799,384 24,885,740 * Aura Minerals, Inc. 242,910 27,957 # AuRico Gold, Inc. 1,573,598 6,534,963 * Axia NetMedia Corp. 37,065 82,118 * B2Gold Corp. 8,150 20,167 #* Ballard Power Systems, Inc. 2,004,901 2,711,275 #* Bellatrix Exploration, Ltd. 1,695,904 12,703,218 * BlackPearl Resources, Inc. 50,972 94,841 * BNK Petroleum, Inc. 69,627 108,182 * Boralex, Inc. Class A 653,728 6,577,094 #* Brigus Gold Corp. 1,517,260 1,135,053 * Calvalley Petroleums, Inc. Class A 175,110 258,639 # Canaccord Financial, Inc. 1,350,492 8,574,552 #* Canacol Energy, Ltd. 127,879 587,484 #* Canada Lithium Corp. 714,149 270,550 * Canam Group, Inc. Class A 918,446 9,953,906 * Canfor Corp. 2,000,533 41,463,116 * Cangene Corp. 13,825 33,149 CanWel Building Materials Group, Ltd. 43,098 119,458 # Capstone Infrastructure Corp. 1,324,597 4,992,726 #* Capstone Mining Corp. 5,183,236 13,770,262 * Cardero Resource Corp. 241,728 30,139 Cascades, Inc. 2,141,123 11,992,671 Cathedral Energy Services, Ltd. 11,679 69,112 CCL Industries, Inc. Class B 255,066 17,515,682 * Celestica, Inc. 4,266,945 46,858,025 #* Cequence Energy, Ltd. 2,799,117 5,100,774 #* China Gold International Resources Corp., Ltd. 815,611 2,190,295 * Chinook Energy, Inc. 97,594 81,434 Churchill Corp. Class A 123,665 1,174,204 # Clarke, Inc. 205,960 1,544,725 * Claude Resources, Inc. 713,457 130,012 # Colabor Group, Inc. 210,414 936,384 * COM DEV International, Ltd. 395,301 1,592,350 #* Connacher Oil and Gas, Ltd. 10,993,728 2,056,085 * Copper Mountain Mining Corp. 17,900 29,529 * Corridor Resources, Inc. 119,285 88,092 Cott Corp. 1,400,427 11,470,433 #* Crew Energy, Inc. 2,023,517 11,760,910 #* Delphi Energy Corp. 3,444,618 5,352,018 #* Denison Mines Corp. 5,002,185 5,517,204 * Dominion Diamond Corp. 506,379 6,838,168 Dorel Industries, Inc. Class B 842,000 31,284,784 #* DragonWave, Inc. 65,610 94,389 #* Dundee Precious Metals, Inc. 320,923 1,369,690 * Dynasty Metals & Mining, Inc. 4,528 3,083 E-L Financial Corp., Ltd. 1,293 859,656 #* Eastern Platinum, Ltd. 3,820,171 219,834 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- CANADA -- (Continued) #* Endeavour Mining Corp. 1,737,491 $ 1,033,179 * Energy Fuels, Inc. 8,164,823 1,096,317 Ensign Energy Services, Inc. 161,705 2,763,711 #* Epsilon Energy, Ltd. 52,300 159,511 Equal Energy, Ltd. 365,960 1,737,402 Equitable Group, Inc. 42,766 2,005,714 * Essential Energy Services Trust 1,973,676 5,584,179 #* EXFO, Inc. 8,639 48,719 * Formation Metals, Inc. 215,961 18,641 #* Fortress Paper, Ltd. Class A 12,405 68,649 #* Gasfrac Energy Services, Inc. 35,005 47,674 * Genesis Land Development Corp. 12,254 42,192 # Genworth MI Canada, Inc. 218,403 6,872,683 Glacier Media, Inc. 22,800 30,833 #* GLG Life Tech Corp. 24,267 12,801 * GLV, Inc. Class A 158,231 614,622 #* Golden Star Resources, Ltd. 1,786,705 891,082 * Gran Tierra Energy, Inc. 499,721 3,767,139 Guardian Capital Group, Ltd. Class A 15,961 229,622 Heroux-Devtek, Inc. 405,277 3,634,336 # HudBay Minerals, Inc. 4,203,616 34,269,157 # IBI Group, Inc. 25,704 46,100 Indigo Books & Music, Inc. 4,800 51,791 * International Forest Products, Ltd. Class A 1,006,072 11,395,684 Intertape Polymer Group, Inc. 748,842 10,773,155 * Ithaca Energy, Inc. 2,818,997 6,596,991 #* Ivanhoe Energy, Inc. 244,061 166,195 #* Jaguar Mining, Inc. 1,317,566 240,097 * Katanga Mining, Ltd. 363,169 191,572 * Kingsway Financial Services, Inc. 303,286 971,539 #* Kirkland Lake Gold, Inc. 20,200 70,520 #* Lake Shore Gold Corp. 4,647,491 1,760,667 * Laramide Resources, Ltd. 270,748 97,377 # Laurentian Bank of Canada 740,008 33,038,289 * Le Chateau, Inc. Class A 8,700 36,547 * Legacy Oil + Gas, Inc. 3,448,734 23,352,095 # Lightstream Resources, Ltd. 3,568,360 22,930,047 Linamar Corp. 815,173 27,410,891 # Liquor Stores N.A., Ltd. 56,735 817,846 #* Long Run Exploration, Ltd. 1,786,903 9,940,095 Martinrea International, Inc. 506,717 5,370,185 * Maxim Power Corp. 3,832 14,186 * Mega Uranium, Ltd. 2,701,865 142,524 Melcor Developments, Ltd. 16,044 301,445 * Mercator Minerals, Ltd. 2,135,959 153,644 * MGM Energy Corp. 118,477 20,454 # Migao Corp. 882,655 863,481 Nevsun Resources, Ltd. 130,660 476,198 # New Flyer Industries, Inc. 14,862 154,086 * New Millennium Iron Corp. 7,500 5,107 Newalta Corp. 917,674 14,302,213 #* Niko Resources, Ltd. 214,057 687,758 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- CANADA -- (Continued) * Nordion, Inc. 711,107 $ 5,885,823 #* North American Palladium, Ltd. 247,616 225,613 * NuVista Energy, Ltd. 2,335,772 14,897,505 #* OceanaGold Corp. 4,640,507 7,744,192 * Orvana Minerals Corp. 58,211 23,169 #* Osisko Mining Corp. 89,600 437,409 Pan American Silver Corp. 272,185 2,892,447 * Parex Resources, Inc. 99,495 575,414 * Patheon, Inc. 20,775 112,777 #* Perpetual Energy, Inc. 66,600 70,263 #* Petrobank Energy & Resources, Ltd. 2,486,847 882,495 # Petrominerales, Ltd. 736,605 8,470,622 * Phoscan Chemical Corp. 3,014,654 838,488 * Polaris Minerals Corp. 19,500 32,729 #* Poseidon Concepts Corp. 581,697 1,687 # Precision Drilling Corp. 14,400 152,335 Primary Energy Recycling Corp. 600 2,739 #* Primero Mining Corp. 1,468,193 8,364,328 Pulse Seismic, Inc. 724,294 2,604,999 # QLT, Inc. 1,077,170 4,659,317 #* Questerre Energy Corp. Class A 738,449 970,292 * Ram Power Corp. 1,161,374 155,941 * Richmont Mines, Inc. 13,234 17,262 * RMP Energy, Inc. 2,400,508 14,366,441 #* Rock Energy, Inc. 70,261 210,247 # RONA, Inc. 3,166,544 37,112,327 * San Gold Corp. 335,642 46,677 #* Santonia Energy, Inc. 2,280,182 4,439,428 # Savanna Energy Services Corp. 2,215,963 16,662,495 * Scorpio Mining Corp. 34,905 9,206 Sears Canada, Inc. 8,415 117,026 # SEMAFO, Inc. 41,400 112,369 # Sherritt International Corp. 7,439,581 25,472,886 * Shore Gold, Inc. 2,959,545 454,157 * Sierra Wireless, Inc. 846,527 15,328,662 #* Silver Standard Resources, Inc. 1,280,634 7,209,823 #* Sonde Resources Corp. 514,560 404,680 * Southern Pacific Resource Corp. 113,500 70,757 # Sprott Resource Corp. 2,192,013 5,970,668 # Sprott, Inc. 1,578,971 3,997,970 # Spyglass Resources Corp. 1,734,983 3,461,147 * St Andrew Goldfields, Ltd. 735,397 201,015 #* Stornoway Diamond Corp. 208,713 184,162 Strad Energy Services, Ltd. 3,100 10,822 # Superior Plus Corp. 416,352 4,440,449 # Surge Energy, Inc. 272,799 1,821,015 * Taseko Mines, Ltd. 320,088 785,906 * Tembec, Inc. 453,676 1,161,766 #* Teranga Gold Corp. 832,294 483,604 #* Tethys Petroleum, Ltd. 313,719 198,585 #* Thompson Creek Metals Co., Inc. 4,407,549 14,203,582 * TLC Vision Corp. 829,259 -- DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ ---------- ------------ CANADA -- (Continued) # TORC Oil & Gas, Ltd. 267,987 $ 2,567,679 Torstar Corp. Class B 518,887 2,786,906 # Transcontinental, Inc. Class A 1,629,923 26,028,119 * TransGlobe Energy Corp. 22,581 204,445 Trinidad Drilling, Ltd. 2,991,070 28,974,063 #* Tuscany International Drilling, Inc. 155,582 19,398 # Twin Butte Energy, Ltd. 47,300 100,711 #* Uex Corp. 569,815 191,277 Uni-Select, Inc. 16,902 392,297 #* US Silver & Gold, Inc. 5,500 2,901 Valener, Inc. 229,255 3,410,296 * Wesdome Gold Mines, Ltd. 23,000 14,559 West Fraser Timber Co., Ltd. 640,761 58,732,584 Western Energy Services Corp. 87,206 658,237 Westjet Airlines, Ltd. 92,133 2,409,694 Whistler Blackcomb Holdings, Inc. 39,397 547,889 Whitecap Resources, Inc. 19,097 221,805 * Xtreme Drilling and Coil Services Corp. 93,403 314,434 # Zargon Oil & Gas, Ltd. 55,190 408,109 ------------ TOTAL CANADA 981,831,550 ------------ CHINA -- (0.0%) Century Sunshine Group Holdings, Ltd. 2,241,833 222,997 * China WindPower Group, Ltd. 20,475,159 831,662 #* Hanfeng Evergreen, Inc. 707,267 678,336 * Shougang Concord Century Holdings, Ltd. 354,115 14,126 * Superb Summit International Group, Ltd. 69,640,000 3,053,758 ------------ TOTAL CHINA 4,800,879 ------------ COLOMBIA -- (0.0%) * Platino Energy Corp. 55,920 32,180 ------------ DENMARK -- (1.4%) * Alm Brand A.S. 2,279,674 8,923,117 * Auriga Industries Class B 11,962 469,432 Brodrene Hartmann A.S. 49,034 1,236,818 D/S Norden A.S. 659,664 29,014,593 Dfds A.S. 91,074 6,630,553 Djurslands Bank A.S. 6,785 217,965 * East Asiatic Co., Ltd. A.S. 122,518 2,093,858 * GPV Industri A.S. Series B 6,000 -- #* Greentech Energy Systems A.S. 16,712 44,366 * H+H International A.S. Class B 58,677 331,198 Harboes Bryggeri A.S. Class B 20,575 287,335 * Jyske Bank A.S. 114,044 6,448,023 Lan & Spar Bank 5,706 307,048 NKT Holding A.S. 12,448 604,096 Nordjyske Bank A.S. 13,580 274,193 Norresundby Bank A.S. 5,455 213,046 PER Aarsleff A.S. Class B 39,856 4,963,130 Schouw & Co. 307,810 11,479,624 * Spar Nord Bank A.S. 409,882 3,661,706 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ ---------- ------------ DENMARK -- (Continued) * Sydbank A.S. 211,224 $ 6,245,823 * TK Development A.S. 1,047,298 1,305,603 * TopoTarget A.S. 238,856 111,757 #* Torm A.S. 867,179 269,382 #* Vestas Wind Systems A.S. 3,314,030 88,805,540 #* Vestjysk Bank A.S. 135,239 308,678 ------------ TOTAL DENMARK 174,246,884 ------------ FINLAND -- (2.2%) Afarak Group Oyj 996 474 # Ahlstrom Oyj 50,307 624,447 # Aktia Bank Oyj 40,429 419,118 Amer Sports Oyj 53,773 1,103,278 Apetit Oyj 64,219 1,657,330 Atria P.L.C. 118,246 1,308,222 Bank of Aland P.L.C. Class A 5,030 83,815 # Cargotec Oyj 21,458 783,551 Cramo Oyj 204,757 4,093,815 Digia P.L.C. 29,872 161,710 * Efore Oyj 54,004 52,644 eQ P.L.C. 28,952 96,173 Finnair Oyj 1,258,678 4,804,350 * Finnlines Oyj 614,000 5,560,443 Fiskars Oyj Abp 93,883 2,403,477 HKScan Oyj Class A 400,047 1,830,800 Huhtamaki Oyj 1,837,503 44,168,925 Kemira Oyj 1,958,402 31,444,271 Kesko Oyj Class A 3,115 107,239 Kesko Oyj Class B 307,724 10,225,676 # Lemminkainen Oyj 88,042 1,767,616 # Metsa Board Oyj 4,530,939 17,581,511 * Munksjo Oyj 12,577 80,338 # Neste Oil Oyj 1,790,500 35,502,652 Okmetic Oyj 297,467 2,165,824 Oriola-KD Oyj Class B 492,492 1,597,157 #* Outokumpu Oyj 25,491,380 14,156,586 Pohjola Bank P.L.C. Class A 2,317,182 42,197,505 Raisio P.L.C. Class V 1,408,322 8,194,788 # Rautaruukki Oyj 1,999,620 17,295,276 # Saga Furs Oyj 18,354 1,097,023 # Sanoma Oyj 1,004,150 8,712,254 Sievi Capital P.L.C. 11,900 17,142 SRV Group P.L.C. 295 1,652 # Stockmann Oyj Abp 13,815 220,578 * Talvivaara Mining Co. P.L.C. 21,385 2,125 Tikkurila Oyj 237,084 6,146,748 * Viking Line Abp 16,240 398,685 ------------ TOTAL FINLAND 268,065,218 ------------ FRANCE -- (3.4%) #* Air France-KLM 3,419,028 35,657,618 #* Alcatel-Lucent 5,040,910 19,312,005 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- FRANCE -- (Continued) Altamir 68,975 $ 940,578 April 3,632 77,218 Aubay 68,462 639,159 * Bigben Interactive 2,397 24,008 Bonduelle SCA 177,232 4,422,343 Bongrain SA 139,659 10,214,192 # Bourbon SA 60,058 1,711,646 #* Boursorama 162,370 1,629,310 Burelle SA 11,385 9,043,929 * Cegedim SA 11,946 315,608 Cegid Group 49,655 1,449,717 * CGG 459,948 10,109,614 #* Chargeurs SA 11,613 85,985 Cie des Alpes 35,887 729,799 Ciments Francais SA 56,643 4,056,822 * Club Mediterranee SA 401,470 9,472,012 * Derichebourg SA 73,248 255,985 Devoteam SA 6,235 110,889 # Eramet 9,184 872,123 Esso SA Francaise 34,669 2,231,275 * Faurecia 1,185 34,535 Fleury Michon SA 17,597 1,106,517 Gaumont SA 22,166 1,080,497 Gevelot SA 4,329 408,643 Groupe Crit 5,037 213,894 # Groupe Flo 41,837 184,086 * Groupe Fnac 5,265 147,139 * Groupe Partouche SA 10,231 11,519 Groupe Steria SCA 576,567 10,653,470 Guerbet 11,535 1,566,342 * Haulotte Group SA 2,794 34,054 Havas SA 5,005,668 41,624,191 * Hi-Media SA 420,966 1,073,722 * Immobiliere Hoteliere SA 27,700 44,944 Jacquet Metal Service 232,110 3,899,880 # Korian 6,874 214,725 Lagardere SCA 38,472 1,397,659 LISI 51,119 7,889,784 Manitou BF SA 5,976 112,563 Manutan International 23,100 1,410,254 Medica SA 67,813 1,742,591 Mersen 151,331 5,535,686 MGI Coutier 10,254 1,257,491 Montupet 153,485 5,765,668 * Mr Bricolage 114,065 1,564,517 # Nexans SA 580,149 25,794,022 Nexity SA 505,901 19,808,307 * NicOx SA 21,199 71,105 * Orco Property Group 207,986 626,946 Paris Orleans SA 269 6,636 #* Peugeot SA 2,133,732 28,069,191 #* Pierre & Vacances SA 89,778 2,411,062 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ --------- ------------ FRANCE -- (Continued) Plastic Omnium SA 945,486 $ 27,011,626 PSB Industries SA 14,426 587,254 Rallye SA 498,438 21,211,504 #* Recylex SA 78,898 355,142 Remy Cointreau SA 20,490 2,018,296 Robertet SA 409 99,895 Sa des Ciments Vicat 17,300 1,292,646 Saft Groupe SA 405 12,843 Samse SA 243 24,067 Seche Environnement SA 23,615 946,069 Securidev SA 16,908 803,162 #* Sequana SA 251,049 2,078,984 Societe des Bains de Mer et du Cercle des Etrangers a Monaco 70,232 3,836,617 Societe Television Francaise 1 37,037 713,626 #* SOITEC 3,532,844 7,985,209 #* Spir Communication 26,393 538,809 #* Ste Industrielle d'Aviation Latecoere SA 154,833 2,782,158 # Sword Group 49,551 1,044,169 * Technicolor SA 971,063 5,239,786 Teleperformance 588,082 31,130,084 #* Theolia SA 1,162,773 2,178,680 Tonnellerie Francois Freres 5,276 435,134 Touax SA 3,807 101,948 * Trigano SA 148,926 3,160,873 * UBISOFT Entertainment 970,240 12,445,873 * Valneva SE 18,863 122,643 # Vilmorin & Cie 12,585 1,484,689 Vranken-Pommery Monopole SA 89,380 2,892,116 ------------ TOTAL FRANCE 411,657,377 ------------ GERMANY -- (4.9%) * Aareal Bank AG 1,133,243 43,463,385 * ADVA Optical Networking SE 54,543 291,151 #* Air Berlin P.L.C. 152,819 352,028 # Allgeier SE 3,683 77,535 Analytik Jena AG 116,268 2,330,681 * AS Creation Tapeten 22,155 1,159,037 #* Asian Bamboo AG 47,651 154,181 Aurubis AG 1,045,010 65,840,809 # Balda AG 642,720 3,987,959 # Bauer AG 192,463 4,720,270 BayWa AG 45,517 2,318,046 Bechtle AG 62,381 4,000,383 Bilfinger SE 536,449 59,529,913 Biotest AG 48,894 4,042,900 Borussia Dortmund GmbH & Co. KGaA 3,693 19,072 CAT Oil AG 19,488 475,535 # Celesio AG 795,201 24,722,724 CENTROTEC Sustainable AG 354 8,801 Comdirect Bank AG 219,178 2,491,037 * Constantin Medien AG 15,828 35,403 CropEnergies AG 53,703 502,412 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- GERMANY -- (Continued) DAB Bank AG 14,585 $ 73,413 Data Modul AG 21,919 476,684 DEAG Deutsche Entertainment 181,910 1,012,947 * Deufol SE 196,029 359,432 Deutsche Beteiligungs AG 6,406 168,176 * Deutz AG 1,149,381 10,901,753 # DMG MORI SEIKI AG 1,062,646 34,930,760 Dr Hoenle AG 36 598 Duerr AG 144,287 12,627,810 DVB Bank SE 23,263 766,565 Eckert & Ziegler AG 43,362 1,763,850 Elmos Semiconductor AG 153,804 2,020,353 Euromicron AG 20,818 493,408 * First Sensor AG 4,788 48,389 # Freenet AG 528,207 13,720,061 Gesco AG 161 16,375 GFT Technologies AG 331,463 2,719,565 #* Gigaset AG 30,061 41,349 Grammer AG 273,850 12,742,133 * H&R AG 2,742 33,191 * Hansa Group AG 482 960 #* Heidelberger Druckmaschinen AG 5,333,749 14,259,079 Homag Group AG 7,574 182,833 Hornbach Baumarkt AG 282 10,135 Indus Holding AG 45,049 1,618,796 Isra Vision AG 53,422 2,561,769 * IVG Immobilien AG 1,446,145 138,374 Jenoptik AG 960,335 16,776,868 #* Joyou AG 20,275 384,933 * Kampa AG 31,214 1,865 * Kloeckner & Co. SE 2,633,338 37,144,416 Koenig & Bauer AG 40,393 770,814 Kontron AG 915,777 6,263,846 Krones AG 13,621 1,192,206 KSB AG 6,000 3,931,036 KWS Saat AG 17,150 6,124,404 # Leifheit AG 53,391 2,177,990 Leoni AG 66,347 4,490,623 #* Manz AG 45,610 3,292,193 * Mediclin AG 845,838 4,964,114 #* Medigene AG 11,673 60,517 MLP AG 3,727 23,255 * Mosaic Software AG 12,800 -- Nexus AG 193,658 2,708,518 #* Nordex SE 1,167,235 20,457,707 * Osram Licht AG 384 19,888 * Patrizia Immobilien AG 238,504 2,233,931 PNE Wind AG 173,562 686,919 Progress-Werk Oberkirch AG 1,190 67,719 Rheinmetall AG 598,463 36,999,091 RIB Software AG 5,678 50,593 * Rohwedder AG 44,910 -- DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ --------- ------------ GERMANY -- (Continued) * SAF-Holland SA 565,795 $ 8,043,289 Salzgitter AG 450,843 19,841,308 #* Singulus Technologies AG 1,190,542 2,913,196 Sixt SE 279,213 8,413,757 # SKW Stahl-Metallurgie Holding AG 55,293 899,462 #* Sky Deutschland AG 220,324 2,171,264 # SMA Solar Technology AG 16,100 656,293 #* Solarworld AG 1,454,456 1,551,165 * Stroeer Media AG 3,943 68,122 #* Suss Microtec AG 335,382 3,556,559 Syzygy AG 148,692 895,098 # TAG Immobilien AG 733,863 8,864,660 # Technotrans 47,762 506,815 #* TUI AG 3,423,151 45,350,838 UMS United Medical Systems International AG 61,893 804,800 * Verbio AG 71,199 102,278 VTG AG 66,858 1,394,412 # Wacker Chemie AG 33,217 3,119,341 Wacker Neuson SE 404,941 6,220,224 ------------ TOTAL GERMANY 600,408,347 ------------ GREECE -- (0.2%) * Alapis Holding Industrial and Commercial SA of Pharmaceutical Chemical Products 173,961 9,684 * Alpha Bank AE 2,811,286 2,518,158 * Atlantic Supermarkets SA 129,593 -- * Bank of Cyprus P.L.C. 3,206,782 -- * Ellaktor SA 724,725 3,149,548 * Elval - Hellenic Aluminium Industry SA 22,597 60,829 * Ergas SA 104,948 -- * Etma Rayon SA 39,176 -- * GEK Terna Holding Real Estate Construction SA 596,933 2,541,373 * Halcor SA 101,237 118,581 * Intracom Holdings SA 1,814,075 1,405,289 * J&P-Avax SA 93,770 222,399 * Marfin Investment Group Holdings SA 9,731,805 6,204,659 * Michaniki SA 986,718 133,972 * National Bank of Greece SA 206,758 1,174,350 * Proton Bank SA 755,752 -- * Sanyo Hellas Holding SA 458,186 -- * Sidenor Steel Products Manufacturing Co. SA 69,599 161,137 * T Bank SA 1,210,617 -- * Technical Olympic SA 1,336 3,012 * Themeliodomi S.A. 140,360 -- Thrace Plastics Co. SA 3,300 6,237 * TT Hellenic Postbank SA 70,453 -- * Viohalco Hellenic Copper and Aluminum Industry SA 154,343 1,527,793 ------------ TOTAL GREECE 19,237,021 ------------ HONG KONG -- (2.1%) Alco Holdings, Ltd. 88,000 18,735 Allan International Holdings 10,000 3,182 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ ----------- ----------- HONG KONG -- (Continued) Allied Group, Ltd. 2,157,000 $ 8,068,232 Allied Properties HK, Ltd. 40,152,372 6,629,051 * Apac Resources, Ltd. 14,000,000 272,744 APT Satellite Holdings, Ltd. 895,750 973,025 # Asia Financial Holdings, Ltd. 4,238,106 1,781,264 Asia Standard Hotel 2,275,800 231,990 Asia Standard International Group 4,381,756 993,828 Associated International Hotels, Ltd. 1,683,000 4,952,702 * Bel Global Resources Holdings, Ltd. 16,756,000 -- Century City International Holdings, Ltd. 31,035,300 2,361,773 Champion Technology Holdings, Ltd. 120,023,689 2,495,573 Chen Hsong Holdings 2,048,000 646,825 Cheuk Nang Holdings, Ltd. 4,166,545 3,753,968 * Cheung Wo International Holdings, Ltd. 168,000 17,960 Chevalier International Holdings, Ltd. 2,485,903 4,371,935 * China Billion Resources, Ltd. 64,707,136 -- * China Daye Non-Ferrous Metals Mining, Ltd. 826,000 21,631 * China Energy Development Holdings, Ltd. 25,012,000 290,808 China Motor Bus Co., Ltd. 38,600 333,551 * China Renji Medical Group, Ltd. 157,788,000 876,921 Chinney Investment, Ltd. 1,924,000 295,792 Chuang's China Investments, Ltd. 20,098,000 1,320,975 Chuang's Consortium International, Ltd. 24,501,773 3,068,559 Chun Wo Development Holdings, Ltd. 6,817,143 434,934 * Cosmos Machinery Enterprises, Ltd. 139,400 9,538 CSI Properties, Ltd. 103,115,476 3,586,711 * CST Mining Group, Ltd. 24,752,000 284,538 Dah Sing Banking Group, Ltd. 22,400 42,190 Dah Sing Financial Holdings, Ltd. 726,850 4,540,260 # Dan Form Holdings Co., Ltd. 19,223,896 2,180,116 # Dickson Concepts International, Ltd. 336,500 209,520 * DVN Holdings, Ltd. 4,838,609 399,357 EcoGreen Fine Chemicals Group, Ltd. 952,000 209,081 Emperor International Holdings 31,910,333 9,170,197 * EPI Holdings, Ltd. 66,716,388 1,976,304 * eSun Holdings, Ltd. 18,512,400 2,482,596 * Ezcom Holdings, Ltd. 67,280 -- Far East Consortium International, Ltd. 13,095,904 4,326,944 * Fountain SET Holdings, Ltd. 17,424,000 2,361,283 #* G-Resources Group, Ltd. 7,047,000 210,606 Get Nice Holdings, Ltd. 84,630,000 3,871,672 Gold Peak Industries Holding, Ltd. 7,170,907 777,120 Golden Resources Development International, Ltd. 11,811,000 646,767 * Grande Holdings, Ltd. (The) 3,082,000 162,985 Great Eagle Holdings, Ltd. 3,044,159 10,859,687 Guangnan Holdings, Ltd. 896,000 113,294 #* Hang Fung Gold Technology, Ltd. 10,027,108 -- * Hao Tian Development Group, Ltd. 10,852,000 482,428 Harbour Centre Development, Ltd. 2,295,000 4,210,264 High Fashion International 996,000 379,233 HKR International, Ltd. 17,150,398 8,387,137 Hon Kwok Land Investment Co., Ltd. 7,798,935 3,004,939 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ ----------- ----------- HONG KONG -- (Continued) * Hong Fok Land, Ltd. 4,248,000 $ -- Hong Kong Ferry Holdings Co., Ltd. 1,791,000 1,798,531 # Hong Kong Television Network, Ltd. 802,000 262,718 Hongkong & Shanghai Hotels (The) 517,931 815,070 Hongkong Chinese, Ltd. 24,037,100 5,337,607 Hopewell Holdings, Ltd. 674,500 2,275,877 Hsin Chong Construction Group, Ltd. 2,324,000 317,505 Hung Hing Printing Group, Ltd. 1,053,275 152,122 IPE Group, Ltd. 1,080,000 77,985 * IRC, Ltd. 10,616,000 1,148,869 ITC Corp., Ltd. 944,655 62,083 ITC Properties Group, Ltd. 962,009 364,890 * Jinchang Pharmaceutical Holdings, Ltd 507,600 -- * Jinhui Holdings, Ltd. 1,108,000 253,112 # K Wah International Holdings, Ltd. 8,813,898 4,833,407 Kantone Holdings, Ltd. 28,523,975 382,721 Keck Seng Investments 2,936,000 1,642,810 * King Stone Energy Group, Ltd. 4,855,000 218,107 Kingston Financial Group, Ltd. 8,305,424 942,312 Kowloon Development Co., Ltd. 9,160,277 11,307,753 Kwoon Chung Bus Hldgs 374,000 92,881 #* Lai Sun Development 338,153,666 9,683,111 * Lai Sun Garment International, Ltd. 35,306,000 6,436,908 Lam Soon Hong Kong, Ltd. 139,250 97,921 Landsea Green Properties Co., Ltd. 872,000 94,387 Lerado Group Holdings Co. 130,000 14,776 Lippo China Resources, Ltd. 16,252,000 492,159 Lippo, Ltd. 4,694,500 2,354,685 Liu Chong Hing Investment 2,788,000 6,191,969 Luen Thai Holdings, Ltd. 528,000 194,095 Luks Group Vietnam Holdings Co., Ltd. 1,002,642 268,514 Magnificent Estates 39,120,600 1,894,087 Ming Fai International Holdings, Ltd. 338,000 37,041 * Ming Fung Jewellery Group, Ltd. 1,980,000 63,305 Miramar Hotel & Investment 1,714,000 2,198,057 * Mongolia Energy Corp., Ltd. 1,043,000 36,968 Nanyang Holdings 101,350 418,673 National Electronic Hldgs 5,126,408 640,989 #* Neo-Neon Holdings, Ltd. 8,239,500 1,909,914 * Neptune Group, Ltd. 23,490,000 1,074,789 New Century Group Hong Kong, Ltd. 648,000 13,034 * New Smart Energy Group, Ltd. 45,952,500 788,856 * New Times Energy Corp., Ltd. 6,684,300 594,968 * Norstar Founders Group, Ltd. 456,000 -- * North Asia Resources Holdings, Ltd. 7,666,400 151,323 * Orange Sky Golden Harvest Entertainment Holdings, Ltd. 165,000 7,984 * Orient Power Holdings, Ltd. 2,182,573 -- Oriental Watch Holdings 1,022,000 326,918 Pacific Andes International Holdings, Ltd. 50,001,927 2,254,866 Paliburg Holdings, Ltd. 11,753,041 3,774,677 * Ping Shan Tea Group, Ltd. 18,884,000 555,255 Playmates Holdings, Ltd. 2,981,700 3,747,792 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ ----------- ------------ HONG KONG -- (Continued) Pokfulam Development Co. 268,000 $ 431,209 Polytec Asset Holdings, Ltd. 41,999,190 5,366,487 Public Financial Holdings, Ltd. 802,444 419,418 PYI Corp., Ltd. 102,188,086 2,478,005 Regal Hotels International Holdings, Ltd. 7,954,623 4,350,265 Rivera Holdings, Ltd. 4,405,468 179,184 * San Miguel Brewery Hong Kong, Ltd. 200,400 32,825 * Sanyuan Group, Ltd. 258,750 -- SEA Holdings, Ltd. 2,019,000 1,145,917 * Shun Ho Resources Holdings, Ltd. 136,000 28,519 Shun Tak Holdings, Ltd. 43,390,546 25,135,276 Sing Tao News Corp., Ltd. 334,000 48,239 SOCAM Development, Ltd. 4,116,120 4,894,825 Soundwill Holdings, Ltd. 832,000 1,491,758 * South China China, Ltd. 10,649,216 1,019,356 * South China Land, Ltd. 14,799,066 330,079 Sun Hung Kai & Co., Ltd. 612,688 344,914 * Sunway International Holdings, Ltd. 26,000 1,174 * Sustainable Forest Holdings, Ltd. 7,422,042 169,483 * Symphony Holdings, Ltd. 3,182,249 203,292 TAI Cheung Holdings 4,638,000 3,518,195 TAI Sang Land Developement, Ltd. 368,741 181,160 * Talent Property Group, Ltd. 1,665,000 28,090 # Tan Chong International, Ltd. 3,984,000 1,578,362 * Taung Gold International, Ltd. 3,750,000 76,906 Tern Properties 168,000 94,829 Tian Teck Land 786,000 863,471 Tysan Holdings, Ltd. 714,000 249,003 * U-RIGHT International Holdings, Ltd. 848,060 43,754 * Up Energy Development Group, Ltd. 1,236,000 70,958 Upbest Group, Ltd. 2,534,000 301,050 Vedan International Holdings, Ltd. 4,352,000 258,746 Victory City International Holdings, Ltd. 23,759,029 3,337,174 VST Holdings, Ltd. 284,000 56,049 Wang On Group, Ltd. 88,597,064 1,622,996 * Warderly International Holdings, Ltd. 1,705,000 105,559 Win Hanverky Holdings, Ltd. 84,000 9,635 # Wing On Co. International, Ltd. 2,756,500 7,927,348 Wing Tai Properties, Ltd. 1,570,749 954,006 Wong's International Hldgs 41,000 13,958 Yau Lee Holdings, Ltd. 1,409,750 319,719 YT Realty Group, Ltd. 94,000 27,614 * Yugang International, Ltd. 18,896,000 126,730 * Zhuhai Holdings Investment Group, Ltd. 13,270,000 2,602,041 ------------ TOTAL HONG KONG 260,142,684 ------------ IRELAND -- (0.4%) Aer Lingus Group P.L.C. 1,504,991 2,859,253 * Anglo Irish Bank Corp. P.L.C. 708,018 -- Dragon Oil P.L.C. 34,026 320,527 FBD Holdings P.L.C. 43,375 935,705 IFG Group P.L.C. 7,990 15,153 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- IRELAND -- (Continued) * Qualceram Shires PLC 30,338 $ -- Smurfit Kappa Group P.L.C. 2,066,589 50,024,929 ----------- TOTAL IRELAND 54,155,567 ----------- ISRAEL -- (0.7%) * Africa Israel Investments, Ltd. 2,368,784 3,987,673 * AL-ROV Israel, Ltd. 98,135 3,256,463 * Albaad Massuot Yitzhak, Ltd. 4 75 #* Alon Blue Square Israel, Ltd. 131,977 520,509 * Alvarion, Ltd. 1 1 * AudioCodes, Ltd. 14,918 89,728 * Azorim-Investment Development & Construction Co., Ltd. 27,805 29,933 * Biocell, Ltd. 32,380 180,175 * Ceragon Networks, Ltd. 422 1,464 #* Clal Biotechnology Industries, Ltd. 46,277 100,449 Clal Industries, Ltd. 104,921 467,621 Clal Insurance Enterprises Holdings, Ltd. 324,304 6,355,618 # Delta-Galil Industries, Ltd. 65,620 1,547,983 Direct Insurance Financial Investments, Ltd. 76,454 424,798 * El Al Israel Airlines 1,640,647 269,366 * Elron Electronic Industries, Ltd. 227,875 1,669,829 * Equital, Ltd. 3,538 56,111 # First International Bank Of Israel, Ltd. 569,287 9,341,406 # Formula Systems 1985, Ltd. 140,526 3,649,085 #* Gilat Satellite Networks, Ltd. 485,775 2,479,649 * Hadera Paper, Ltd. 6,982 410,143 Harel Insurance Investments & Financial Services, Ltd. 2,117,590 12,417,010 * Israel Discount Bank, Ltd. Class A 12,124,424 24,194,942 Israel Land Development Co., Ltd. (The) 39,194 161,775 #* Jerusalem Oil Exploration 201,350 7,435,981 * Kardan Vehicle, Ltd. 1,545 14,091 Menorah Mivtachim Holdings, Ltd. 191,281 2,201,763 Mizrahi Tefahot Bank, Ltd. 20,816 244,003 * Neto ME Holdings, Ltd. 1,339 71,224 * Oil Refineries, Ltd. 1,918,068 619,967 * Ormat Industries 403,636 2,728,768 Phoenix Holdings, Ltd. (The) 520,347 2,045,573 * Tower Semiconductor, Ltd. 31,287 152,426 #* Union Bank of Israel 599,420 2,687,650 ----------- TOTAL ISRAEL 89,813,252 ----------- ITALY -- (2.9%) #* Banca Carige SpA 435,221 347,986 #* Banca Monte dei Paschi di Siena SpA 16,864,953 5,317,118 * Banca Piccolo Credito Valtellinese Scarl 4,806,967 8,602,133 * Banca Popolare dell'Emilia Romagna S.c.r.l. 1,323,506 12,715,320 #* Banca Popolare dell'Etruria e del Lazio 344,368 321,260 #* Banca Popolare di Milano Scarl 77,876,899 52,021,908 Banco di Desio e della Brianza SpA 16,345 51,315 * Banco Popolare 40,563,396 80,582,762 * Brioschi Sviluppo Immobiliare SpA 321,080 38,107 Buzzi Unicem SpA 335,308 5,805,323 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ ---------- ------------ ITALY -- (Continued) * Caltagirone Editore SpA 713,490 $ 1,157,893 Caltagirone SpA 320,000 760,954 Cementir Holding SpA 2,010,356 9,253,400 * CIR-Compagnie Industriali Riunite SpA 4,602,236 7,655,249 Credito Emiliano SpA 11,313 85,527 De'Longhi SpA 880,563 13,598,388 * DeA Capital SpA 333,959 634,841 * Delclima 846,828 1,180,536 * Eurotech SpA 303,291 780,854 * Falck Renewables SpA 159,941 272,365 #* Finmeccanica SpA 1,462,558 10,717,646 #* Fondiaria-Sai SpA 7,002,324 17,940,436 * Gemina SpA 9,055,174 21,969,468 * IMMSI SpA 2,265,373 1,398,662 #* Intek Group SpA 5,359,454 2,312,798 Irce SpA 18,393 42,200 # Italcementi SpA 1,829,367 16,269,455 * Italmobiliare SpA 167,766 5,470,488 * Milano Assicurazioni SpA 19,395,939 16,547,196 * Pagnossin SpA 79,000 -- # Pirelli & C. SpA 176,572 2,483,853 #* Prelios SpA 651,261 554,390 * Premafin Finanziaria SpA 5,444,509 1,238,657 #* Reno de Medici SpA 1,260,297 486,663 * Safilo Group SpA 369,452 7,553,036 * Snia SpA 271,793 -- SOL SpA 73,545 555,493 * Uni Land SpA 37,715 -- Unione di Banche Italiane SCPA 1,652,022 11,417,841 Unipol Gruppo Finanziario SpA 5,874,555 31,148,973 Vianini Industria SpA 35,109 59,218 Vianini Lavori SpA 344,977 1,986,104 ------------ TOTAL ITALY 351,335,816 ------------ JAPAN -- (21.2%) A&D Co., Ltd. 31,800 207,511 Achilles Corp. 1,959,000 3,250,896 ADEKA Corp. 718,800 8,452,108 # Agro-Kanesho Co., Ltd. 36,000 253,543 Ahresty Corp. 480,000 3,808,298 # Aichi Bank, Ltd. (The) 211,400 9,607,507 Aichi Corp. 35,600 188,219 Aichi Steel Corp. 1,207,000 6,186,904 Aichi Tokei Denki Co., Ltd. 4,000 11,695 Aida Engineering, Ltd. 360,907 3,488,731 * Aigan Co., Ltd. 371,500 1,063,007 Airport Facilities Co., Ltd. 519,900 4,547,712 Aisan Industry Co., Ltd. 177,630 1,789,382 Aizawa Securities Co., Ltd. 59,174 402,777 Akita Bank, Ltd. (The) 4,528,000 11,368,511 Alconix Corp. 1,200 24,746 Alpen Co., Ltd. 295,900 6,157,808 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- JAPAN -- (Continued) Alpha Corp. 32,600 $ 345,904 Alpha Systems, Inc. 45,960 628,717 Alpine Electronics, Inc. 395,200 4,784,426 Alps Logistics Co., Ltd. 37,600 378,488 AOI Electronic Co., Ltd. 46,200 699,206 AOKI Holdings, Inc. 137,361 4,569,142 # Aomori Bank, Ltd. (The) 628,000 1,638,030 Aoyama Trading Co., Ltd. 1,396,199 35,599,812 Arakawa Chemical Industries, Ltd. 362,100 3,637,188 Arata Corp. 27,000 95,583 # Araya Industrial Co., Ltd. 1,085,000 1,972,884 Arcland Sakamoto Co., Ltd. 12,200 182,251 Arisawa Manufacturing Co., Ltd. 836,682 5,650,549 Asahi Broadcasting Corp. 42,600 292,258 # Asahi Kogyosha Co., Ltd. 508,000 1,824,640 Asahi Organic Chemicals Industry Co., Ltd. 1,654,000 3,711,598 #* Asanuma Corp. 881,000 1,449,975 #* Ashimori Industry Co., Ltd. 1,031,000 1,376,992 Asia Air Survey Co., Ltd. 49,000 151,354 ASKA Pharmaceutical Co., Ltd. 513,000 3,807,149 Asunaro Aoki Construction Co., Ltd. 725,000 4,237,863 # Atsugi Co., Ltd. 5,237,000 6,195,856 Awa Bank, Ltd. (The) 188,000 981,821 Bando Chemical Industries, Ltd. 89,000 347,259 # Bank of Iwate, Ltd. (The) 341,100 15,491,379 Bank of Kochi, Ltd. (The) 166,000 189,022 Bank of Nagoya, Ltd. (The) 3,696,706 12,677,423 Bank of Okinawa, Ltd. (The) 137,750 5,331,591 Bank of Saga, Ltd. (The) 2,989,000 6,423,061 Bank of the Ryukyus, Ltd. 916,100 9,997,328 Belluna Co., Ltd. 1,188,224 6,308,706 * Best Denki Co., Ltd. 1,778,000 2,775,322 # Bunka Shutter Co., Ltd. 243,016 1,362,603 * Carlit Holdings Co., Ltd. 97,400 489,746 Cawachi, Ltd. 355,600 6,688,560 Central Glass Co., Ltd. 3,540,000 12,311,625 Central Security Patrols Co., Ltd. 34,000 320,291 * Chiba Kogyo Bank, Ltd. (The) 207,200 1,579,270 Chiyoda Integre Co., Ltd. 26,800 464,147 Chofu Seisakusho Co., Ltd. 251,000 5,809,722 Chubu Shiryo Co., Ltd. 352,700 2,051,931 Chudenko Corp. 579,760 9,551,402 Chuetsu Pulp & Paper Co., Ltd. 2,195,000 3,555,858 Chugoku Marine Paints, Ltd. 481,000 2,747,719 Chukyo Bank, Ltd. (The) 1,802,000 3,250,489 # Chuo Denki Kogyo Co., Ltd. 366,400 1,240,852 # Chuo Gyorui Co., Ltd. 627,000 1,469,547 Chuo Spring Co., Ltd. 945,000 2,953,939 Cleanup Corp. 592,900 5,202,314 # CMK Corp. 1,182,100 3,406,498 Coca-Cola Central Japan Co., Ltd. 982,004 17,391,907 Computer Engineering & Consulting, Ltd. 239,900 1,527,284 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- JAPAN -- (Continued) Corona Corp. 401,400 $ 4,532,711 #* Cosmo Oil Co., Ltd. 622,000 1,095,223 Cresco, Ltd. 35,100 272,598 # Cross Plus, Inc. 75,900 688,199 CTI Engineering Co., Ltd. 277,000 2,496,724 Dai-Dan Co., Ltd. 620,000 3,313,476 Dai-Ichi Kogyo Seiyaku Co., Ltd. 732,000 1,810,549 # Dai-ichi Seiko Co., Ltd. 169,900 2,606,225 Daido Kogyo Co., Ltd. 624,447 1,794,082 #* Daiei, Inc. (The) 2,724,700 9,447,366 Daihatsu Diesel Manufacturing Co., Ltd. 132,000 677,866 # Daiho Corp. 1,921,000 7,216,884 Daiichi Kigenso Kagaku-Kogyo Co., Ltd. 500 15,201 Daiki Aluminium Industry Co., Ltd. 386,000 1,086,680 # Daiki Ataka Engineering Co., Ltd. 22,000 105,868 Daiko Clearing Services Corp. 12,000 83,116 Daimaruenawin Co., Ltd. 10,600 74,029 # Dainichi Co., Ltd. 273,500 2,294,539 Dainichiseika Color & Chemicals Manufacturing Co., Ltd. 28,000 116,469 Daisan Bank, Ltd. (The) 996,000 1,632,344 Daishi Bank, Ltd. (The) 4,158,932 14,519,619 # Daishinku Corp. 438,000 1,657,499 Daito Bank, Ltd. (The) 3,704,000 3,892,990 Daiwa Industries, Ltd. 296,000 1,862,619 Daiwabo Holdings Co., Ltd. 124,000 237,631 # DC Co., Ltd. 458,500 3,357,578 DCM Holdings Co., Ltd. 1,294,800 9,046,686 Denyo Co., Ltd. 113,700 1,400,672 DMW Corp. 58,800 957,123 Doutor Nichires Holdings Co., Ltd. 42,500 771,923 Duskin Co., Ltd. 5,800 117,890 Dydo Drinco, Inc. 41,000 1,736,348 Dynic Corp. 186,000 328,595 # EDION Corp. 2,446,000 12,244,476 Ehime Bank, Ltd. (The) 2,400,000 5,773,403 Eidai Co., Ltd. 308,000 1,676,171 Eighteenth Bank, Ltd. (The) 3,936,000 9,066,627 Eizo Corp. 72,500 1,784,076 ESPEC Corp. 510,400 3,974,534 Excel Co., Ltd. 86,500 1,028,339 Faith, Inc. 50,160 527,865 Felissimo Corp. 6,800 68,578 # Ferrotec Corp. 768,500 3,778,166 FIDEA Holdings Co., Ltd. 434,900 857,933 Fine Sinter Co., Ltd. 84,000 283,580 * First Baking Co., Ltd. 82,000 129,512 Fuji Oil Co., Ltd. 987,100 3,542,649 Fujicco Co., Ltd. 318,600 3,956,977 Fujikura Kasei Co., Ltd. 205,200 1,119,027 Fujikura Rubber, Ltd. 43,100 192,130 Fujikura, Ltd. 9,669,000 44,121,189 Fujitsu Frontech, Ltd. 392,600 3,222,262 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- JAPAN -- (Continued) FuKoKu Co., Ltd. 60,100 $ 512,931 # Fukuda Corp. 518,000 2,148,281 # Fukui Bank, Ltd. (The) 1,079,000 2,353,226 Fukushima Bank, Ltd. (The) 120,000 106,497 # Fukuyama Transporting Co., Ltd. 2,022,000 12,924,201 Funai Electric Co., Ltd. 4,300 45,609 Furuno Electric Co., Ltd. 60,100 392,541 Furusato Industries, Ltd. 76,000 787,169 Fuso Chemical Co., Ltd. 1,600 39,971 Futaba Corp. 850,800 11,786,422 * Futaba Industrial Co., Ltd. 8,400 31,297 # Gakken Holdings Co., Ltd. 930,000 2,871,028 Gecoss Corp. 388,200 2,997,840 Godo Steel, Ltd. 4,104,000 7,544,816 Goldcrest Co., Ltd. 409,350 10,951,692 Gourmet Kineya Co., Ltd. 58,000 400,827 # GSI Creos Corp. 475,000 707,384 # Gun-Ei Chemical Industry Co., Ltd. 1,212,000 5,998,710 Gunze, Ltd. 5,062,000 13,519,286 H-One Co., Ltd. 21,300 217,270 Hagihara Industries, Inc. 3,400 46,386 Hakuto Co., Ltd. 363,800 3,517,909 Hanwa Co., Ltd. 1,156,000 5,378,508 Harima Chemicals Group, Inc. 399,200 1,978,556 Haruyama Trading Co., Ltd. 279,600 1,919,561 Hazama Ando Corp. 2,840 10,494 Heiwa Real Estate Co., Ltd. 421,300 7,630,848 Heiwado Co., Ltd. 263,424 4,108,197 HI-LEX Corp. 5,700 122,834 # Hibiya Engineering, Ltd. 711,000 8,649,037 Higashi-Nippon Bank, Ltd. (The) 2,948,000 6,506,080 Higo Bank, Ltd. (The) 2,597,000 14,783,576 Hisaka Works, Ltd. 101,000 906,234 Hitachi Medical Corp. 651,000 9,109,738 Hitachi Metals Techno, Ltd. 44,100 420,605 # Hodogaya Chemical Co., Ltd. 648,000 1,335,933 # Hokkaido Coca-Cola Bottling Co., Ltd. 466,000 2,341,678 Hokkan Holdings, Ltd. 993,000 3,138,388 Hokko Chemical Industry Co., Ltd. 402,000 1,216,756 Hokkoku Bank, Ltd. (The) 4,266,159 15,767,098 Hokuetsu Bank, Ltd. (The) 3,565,000 7,393,678 # Hokuetsu Kishu Paper Co., Ltd. 3,546,774 16,525,597 Hokuriku Electrical Construction Co., Ltd. 209,000 853,739 Hosiden Corp. 1,428,300 7,806,871 # Hurxley Corp. 18,600 143,590 Hyakugo Bank, Ltd. (The) 3,915,855 15,922,939 Hyakujushi Bank, Ltd. (The) 2,604,000 9,489,202 Ichikawa Co., Ltd. 205,000 637,229 # Ihara Chemical Industry Co., Ltd. 836,000 6,284,860 * IJT Technology Holdings Co., Ltd. 218,460 1,170,837 * Ikegami Tsushinki Co., Ltd. 95,000 102,927 # Imasen Electric Industrial 167,799 2,374,666 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- JAPAN -- (Continued) # Inaba Seisakusho Co., Ltd. 108,700 $ 1,412,377 Inabata & Co., Ltd. 1,276,300 12,517,497 # Ines Corp. 1,161,300 7,691,336 Information Services International-Dentsu, Ltd. 88,700 1,001,043 Innotech Corp. 378,100 1,743,785 #* Inui Steamship Co., Ltd. 743,100 2,919,918 * Ishihara Sangyo Kaisha, Ltd. 3,257,000 3,020,887 Ishizuka Glass Co., Ltd. 666,000 2,528,698 IT Holdings Corp. 629,700 9,045,266 Itochu Enex Co., Ltd. 913,400 4,977,307 Itochu-Shokuhin Co., Ltd. 16,200 536,207 Itoham Foods, Inc. 1,793,369 7,559,614 Itoki Corp. 597,247 3,028,659 Iwai Cosmo Holdings, Inc. 155,800 1,954,380 Iwaki & Co., Ltd. 814,000 1,807,511 #* Iwasaki Electric Co., Ltd. 859,000 1,821,315 Iwatsu Electric Co., Ltd. 2,258,000 2,283,175 # Iwatsuka Confectionery Co., Ltd. 100 5,158 Izumiya Co., Ltd. 1,753,000 8,277,457 J-Oil Mills, Inc. 1,144,000 3,614,129 Japan Digital Laboratory Co., Ltd. 597,100 7,126,606 Japan Foundation Engineering Co., Ltd. 523,700 2,250,540 # Japan Medical Dynamic Marketing, Inc. 447,400 1,371,285 Japan Oil Transportation Co., Ltd. 576,000 1,331,317 Japan Pulp & Paper Co., Ltd. 1,513,000 4,887,081 Japan Transcity Corp. 1,011,000 3,360,520 Jimoto Holdings, Inc. 120,800 265,418 JK Holdings Co., Ltd. 4,100 25,395 JMS Co., Ltd. 779,000 2,541,023 Juroku Bank, Ltd. (The) 2,753,000 10,778,747 # JVC Kenwood Corp. 1,986,000 3,890,011 Kaga Electronics Co., Ltd. 278,200 2,799,089 Kagoshima Bank, Ltd. (The) 3,001,500 20,204,067 Kamei Corp. 785,700 5,850,509 Kanaden Corp. 476,000 3,177,501 Kandenko Co., Ltd. 2,434,000 15,379,893 #* Kanto Denka Kogyo Co., Ltd. 74,000 158,123 # Kanto Natural Gas Development, Ltd. 601,000 4,237,302 Katakura Chikkarin Co., Ltd. 250,000 696,451 Katakura Industries Co., Ltd. 3,200 37,965 Kato Works Co., Ltd. 1,559,872 10,694,854 KAWADA TECHNOLOGIES, Inc. 40,300 1,199,047 Kawasaki Kasei Chemicals, Ltd. 336,000 441,431 # Kawasaki Kisen Kaisha, Ltd. 5,112,194 11,719,331 Kawasumi Laboratories, Inc. 297,900 1,936,830 Keihanshin Building Co., Ltd. 175,800 971,510 # Keihin Co. Ltd/Minato-Ku Tokyo Japan 9,000 17,096 Keiyo Bank, Ltd. (The) 872,000 4,440,859 * KI Holdings Co., Ltd. 122,000 257,209 Kimura Unity Co., Ltd. 1,600 16,268 Kinki Sharyo Co., Ltd. 429,000 1,311,415 Kita-Nippon Bank, Ltd. (The) 175,600 4,322,099 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- JAPAN -- (Continued) Kitagawa Iron Works Co., Ltd. 521,000 $ 1,094,016 Kitano Construction Corp. 731,000 1,727,991 Kitazawa Sangyo Co., Ltd. 159,000 288,205 Kito Corp. 13,000 204,992 * Kiyo Bank Ltd (The) 20,900 277,802 Koa Corp. 253,589 2,384,175 Koatsu Gas Kogyo Co., Ltd. 3,000 16,679 # Kohnan Shoji Co., Ltd. 896,300 9,428,199 Koike Sanso Kogyo Co., Ltd. 8,000 18,686 #* Kojima Co., Ltd. 720,400 2,001,308 Kokuyo Co., Ltd. 2,007,411 15,362,129 # KOMAIHALTEC, Inc. 1,202,000 3,990,216 Komatsu Seiren Co., Ltd. 780,000 4,146,920 Komatsu Wall Industry Co., Ltd. 147,900 3,121,391 Komori Corp. 1,463,200 23,008,938 # Konaka Co., Ltd. 500,749 4,468,185 Konishi Co., Ltd. 241,800 4,873,319 Krosaki Harima Corp. 638,000 1,581,175 KRS Corp. 168,400 1,844,141 KU Holdings Co., Ltd. 183,600 2,440,376 #* Kumagai Gumi Co., Ltd. 1,356,000 4,173,087 # Kumiai Chemical Industry Co., Ltd. 345,519 2,564,814 Kurabo Industries, Ltd. 5,952,000 10,381,168 Kureha Corp. 678,000 2,614,701 # Kuroda Electric Co., Ltd. 66,400 930,116 Kyodo Printing Co., Ltd. 2,056,000 5,724,955 Kyoei Sangyo Co., Ltd. 335,000 659,027 # Kyoei Steel, Ltd. 447,200 9,254,359 #* Kyokuto Boeki Kaisha, Ltd. 468,000 1,011,753 Kyokuto Kaihatsu Kogyo Co., Ltd. 858,150 10,730,150 # Kyosan Electric Manufacturing Co., Ltd. 469,000 1,557,385 Kyowa Leather Cloth Co., Ltd. 375,300 1,712,435 Kyudenko Corp. 1,152,000 6,930,327 LEC, Inc. 163,200 2,079,028 * Lonseal Corp. 306,000 390,400 Look, Inc. 29,000 87,690 Macnica, Inc. 263,800 7,152,427 # Maeda Corp. 3,972,000 28,577,819 Maeda Road Construction Co., Ltd. 827,000 14,704,847 Maezawa Industries, Inc. 208,300 785,990 Maezawa Kasei Industries Co., Ltd. 227,500 2,420,118 Maezawa Kyuso Industries Co., Ltd. 153,700 2,006,600 Makino Milling Machine Co., Ltd. 2,000 13,096 Marubun Corp. 449,300 2,070,596 Marudai Food Co., Ltd. 3,093,000 9,727,416 #* Maruei Department Store Co., Ltd. 382,400 873,637 # Maruetsu, Inc. (The) 136,000 451,174 Marufuji Sheet Piling Co., Ltd. 80,000 214,352 Maruwn Corp. 14,500 36,192 Maruzen Co. Ltd 20,000 178,840 Maruzen Showa Unyu Co., Ltd. 1,485,000 5,453,676 Matsui Construction Co., Ltd. 418,700 1,781,390 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- JAPAN -- (Continued) Maxvalu Tokai Co., Ltd. 63,800 $ 906,952 #* Meiko Electronics Co., Ltd. 121,000 920,363 Meisei Industrial Co., Ltd. 84,000 360,725 Meito Transportation Co., Ltd. 300 1,977 # Meiwa Corp. 49,300 162,893 #* Meiwa Estate Co., Ltd. 396,600 1,695,690 Melco Holdings, Inc. 3,000 41,091 Mesco, Inc. 22,000 145,289 Michinoku Bank, Ltd. (The) 2,782,000 5,782,737 Micronics Japan Co., Ltd. 2,900 19,384 Mie Bank, Ltd. (The) 992,000 2,020,601 Mikuni Corp. 164,000 521,268 Mimasu Semiconductor Industry Co., Ltd. 310,900 2,724,565 Minato Bank, Ltd. (The) 888,000 1,548,533 Ministop Co., Ltd. 2,500 39,019 Mirait Holdings Corp. 793,240 7,037,831 Mitani Corp. 64,200 1,386,688 Mito Securities Co., Ltd. 514,000 2,468,241 Mitsuba Corp. 244,000 3,641,543 #* Mitsubishi Kakoki Kaisha, Ltd. 179,000 358,171 * Mitsubishi Paper Mills, Ltd. 3,352,000 3,039,575 Mitsubishi Steel Manufacturing Co., Ltd. 1,816,000 5,154,581 Mitsui Engineering & Shipbuilding Co., Ltd. 8,287,000 16,267,190 Mitsui High-Tec, Inc. 620,100 4,393,643 Mitsui Home Co., Ltd. 5,000 25,191 # Mitsui Knowledge Industry Co., Ltd. 483,200 757,595 Mitsui Matsushima Co., Ltd. 728,000 1,131,436 * Mitsumi Electric Co., Ltd. 2,692,900 18,159,339 Mitsumura Printing Co., Ltd. 111,000 297,050 # Mitsuuroko Holdings Co., Ltd. 798,600 3,845,834 Miyazaki Bank, Ltd. (The) 3,514,260 10,199,504 # Miyoshi Oil & Fat Co., Ltd. 1,144,000 1,843,968 # Mizuno Corp. 644,395 3,638,877 # Morinaga Milk Industry Co., Ltd. 1,036,000 3,230,301 Morozoff, Ltd. 103,000 328,022 Mory Industries, Inc. 672,000 2,829,817 Mr Max Corp. 635,600 2,168,987 Murakami Corp. 22,000 314,577 Musashino Bank, Ltd. (The) 503,800 17,676,277 # Mutoh Holdings Co., Ltd. 146,000 631,704 Nafco Co., Ltd. 24,400 348,279 Nagano Bank, Ltd. (The) 1,747,000 3,147,757 Nagase & Co., Ltd. 284,000 3,537,702 Nakabayashi Co., Ltd. 972,000 2,120,599 * Nakayama Steel Works, Ltd. 2,100,000 2,406,900 Namura Shipbuilding Co., Ltd. 186,200 2,696,226 Nanto Bank, Ltd. (The) 654,000 2,589,464 NDS Co., Ltd. 872,000 2,512,929 # NEC Capital Solutions, Ltd. 189,500 4,696,574 Neturen Co., Ltd. 474,700 4,186,973 Nice Holdings, Inc. 1,731,000 4,500,419 Nichia Steel Works, Ltd. 882,200 3,226,826 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- JAPAN -- (Continued) Nichiban Co., Ltd. 627,000 $ 2,450,954 Nichicon Corp. 198,500 2,078,862 Nichiden Corp. 7,700 181,511 Nichimo Co., Ltd. 869,000 1,770,892 Nichireki Co., Ltd. 618,000 6,396,795 # Nihon Dempa Kogyo Co., Ltd. 47,000 437,546 Nihon Eslead Corp. 3,700 40,946 Nihon Kagaku Sangyo Co., Ltd. 21,000 148,350 Nihon Tokushu Toryo Co., Ltd. 76,800 320,321 Nihon Yamamura Glass Co., Ltd. 2,512,000 4,628,286 # Nikko Co., Ltd. 586,000 3,406,481 Nippo Corp. 1,165,000 21,856,516 # Nippon Beet Sugar Manufacturing Co., Ltd. 3,280,000 6,178,653 Nippon Carbon Co., Ltd. 139,000 270,893 * Nippon Chemi-Con Corp. 1,885,000 8,518,729 #* Nippon Chemical Industrial Co., Ltd. 2,417,000 4,069,932 Nippon Chutetsukan KK 481,000 1,202,630 # Nippon Concrete Industries Co., Ltd. 1,084,000 6,072,574 # Nippon Denko Co., Ltd. 2,112,000 6,150,743 Nippon Densetsu Kogyo Co., Ltd. 293,000 3,662,486 Nippon Felt Co., Ltd. 73,100 327,423 Nippon Fine Chemical Co., Ltd. 216,100 1,414,271 Nippon Flour Mills Co., Ltd. 1,383,000 6,671,470 Nippon Hume Corp. 582,000 5,263,959 #* Nippon Kinzoku Co., Ltd. 627,000 869,957 Nippon Koei Co., Ltd. 1,481,000 6,967,124 Nippon Konpo Unyu Soko Co., Ltd. 1,198,000 20,883,292 #* Nippon Koshuha Steel Co., Ltd. 152,000 167,199 Nippon Light Metal Holdings Co., Ltd. 6,443,900 9,226,202 # Nippon Paper Industries Co., Ltd. 81,900 1,304,993 Nippon Pillar Packing Co., Ltd. 266,000 1,824,809 Nippon Piston Ring Co., Ltd. 199,000 367,205 Nippon Rietec Co., Ltd. 47,000 342,680 Nippon Road Co., Ltd. (The) 2,090,000 13,016,634 Nippon Seiki Co., Ltd. 57,000 929,323 Nippon Seisen Co., Ltd. 155,000 708,324 #* Nippon Sheet Glass Co., Ltd. 19,574,000 25,386,699 Nippon Signal Co., Ltd. 2,100 15,971 Nippon Soda Co., Ltd. 2,000,000 12,252,824 Nippon Steel & Sumikin Bussan 1,452,800 4,418,013 Nippon Steel & Sumikin Texeng 827,000 3,371,327 Nippon Systemware Co., Ltd. 198,500 835,349 Nippon Thompson Co., Ltd. 890,000 4,843,940 Nippon Tungsten Co., Ltd. 172,000 278,053 #* Nippon Yakin Kogyo Co., Ltd. 4,763,500 15,782,957 Nishikawa Rubber Co., Ltd. 2,900 52,203 Nishimatsu Construction Co., Ltd. 8,367,073 29,539,051 Nissei Corp. 1,300 11,916 Nissei Plastic Industrial Co., Ltd. 123,600 806,423 Nissen Holdings Co., Ltd. 42,600 137,537 Nisshin Fudosan Co. 517,100 4,125,049 # Nisshin Oillio Group, Ltd. (The) 2,249,000 7,556,933 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- JAPAN -- (Continued) Nisshin Steel Holdings Co., Ltd. 335,000 $ 4,466,868 Nisshinbo Holdings, Inc. 1,295,000 11,437,780 Nissin Corp. 654,000 1,918,225 Nissin Sugar Co., Ltd. 127,500 2,680,102 Nissui Pharmaceutical Co., Ltd. 180,500 1,994,365 Nittan Valve Co., Ltd. 177,800 574,092 Nittetsu Mining Co., Ltd. 1,951,000 11,195,164 Nitto FC Co., Ltd. 243,100 1,473,517 Nitto Fuji Flour Milling Co., Ltd. 370,000 1,164,059 Nitto Seiko Co., Ltd. 145,000 536,645 Nohmi Bosai, Ltd. 179,000 1,807,800 Noritake Co., Ltd/Nagoya 1,105,000 3,004,631 Noritsu Koki Co., Ltd. 518,300 3,443,137 North Pacific Bank, Ltd. 3,190,300 13,929,865 #* NS United Kaiun Kaisha, Ltd. 2,483,000 7,530,623 #* NTN Corp. 1,341,000 6,445,982 Obayashi Road Corp. 815,000 4,783,642 Ogaki Kyoritsu Bank, Ltd. (The) 3,547,000 9,991,229 #* Ohara, Inc. 121,500 755,834 OIE Sangyo Co., Ltd. 6,213 52,238 Oita Bank, Ltd. (The) 3,920,000 14,379,501 Okabe Co., Ltd. 37,700 504,752 # OKK Corp. 2,253,000 3,288,457 Okumura Corp. 3,082,000 14,633,827 Okura Industrial Co., Ltd. 1,151,000 4,077,707 Okuwa Co., Ltd. 210,000 1,899,651 Olympic Group Corp. 372,700 2,763,288 Onoken Co., Ltd. 320,800 3,858,056 Organo Corp. 195,000 945,288 Origin Electric Co., Ltd. 34,000 114,364 Osaka Organic Chemical Industry, Ltd. 140,700 644,132 Osaka Steel Co., Ltd. 594,600 11,378,278 # Osaki Electric Co., Ltd. 98,000 646,080 Otsuka Kagu, Ltd. 75,900 856,111 # OUG Holdings, Inc. 28,000 51,601 Oyo Corp. 415,300 6,860,468 Pacific Industrial Co., Ltd. 1,170,200 8,378,106 # Pacific Metals Co., Ltd. 1,519,000 5,566,367 # Paltac Corp. 356,600 4,798,419 Paris Miki Holdings, Inc. 15,300 71,494 Piolax, Inc. 274,200 9,452,914 #* Pioneer Corp. 79,400 146,160 #* Renesas Electronics Corp. 20,200 116,666 # Rengo Co., Ltd. 373,000 1,994,974 #* Renown, Inc. 1,467,260 1,988,232 Rheon Automatic Machinery Co., Ltd. 304,000 886,570 Rhythm Watch Co., Ltd. 3,021,000 4,465,524 Ricoh Leasing Co., Ltd. 216,600 6,202,146 Right On Co., Ltd. 172,000 1,476,820 Riken Keiki Co., Ltd. 158,900 1,217,382 Riken Technos Corp. 940,000 4,214,877 # Riken Vitamin Co., Ltd. 9,700 241,924 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- JAPAN -- (Continued) Riso Kagaku Corp. 277,182 $ 6,174,602 # Roland Corp. 145,400 1,746,560 Round One Corp. 1,875,400 9,949,968 # Ryobi, Ltd. 1,144,000 5,055,966 Ryoden Trading Co., Ltd. 858,000 5,867,752 Ryosan Co., Ltd. 790,500 15,305,868 Ryoyo Electro Corp. 778,100 7,129,245 Sakai Chemical Industry Co., Ltd. 2,348,000 7,777,497 # Sakai Heavy Industries, Ltd. 300,000 1,237,641 Sakai Moving Service Co., Ltd. 3,300 103,488 Sakata INX Corp. 52,000 493,541 Sala Corp. 240,200 1,299,307 San Holdings, Inc. 75,000 1,067,123 San-Ai Oil Co., Ltd. 1,333,000 5,756,992 San-In Godo Bank, Ltd. (The) 4,288,900 31,135,810 Sangetsu Co., Ltd. 17,800 472,434 Sanki Engineering Co., Ltd. 1,642,000 10,252,136 Sankyo Seiko Co., Ltd. 493,400 1,678,718 Sankyo Tateyama, Inc. 500 10,566 Sanoh Industrial Co., Ltd. 266,800 1,917,979 Sanritsu Corp. 44,300 240,281 Sanshin Electronics Co., Ltd. 831,500 5,428,296 Sanyo Chemical Industries, Ltd. 82,000 564,337 Sanyo Engineering & Construction, Inc. 195,000 842,193 # Sanyo Industries, Ltd. 707,000 1,339,804 Sanyo Shokai, Ltd. 513,628 1,417,341 Sanyo Special Steel Co., Ltd. 1,229,000 6,627,515 * Sasebo Heavy Industries Co., Ltd. 1,609,000 1,675,906 Sato Shoji Corp. 179,200 1,097,022 Satori Electric Co., Ltd. 306,360 1,850,954 # Saxa Holdings, Inc. 1,310,000 2,114,406 SBS Holdings, Inc. 8,100 119,576 # Scroll Corp. 715,500 2,032,347 SEC Carbon, Ltd. 1,000 3,468 Seibu Electric Industry Co., Ltd. 322,000 1,430,546 Seika Corp. 3,000 7,310 Seiko PMC Corp. 8,100 39,707 Seino Holdings Co., Ltd. 2,432,119 24,020,200 Sekisui Jushi Corp. 517,000 7,527,190 Sekisui Plastics Co., Ltd. 1,305,000 3,689,816 # Senko Co., Ltd. 898,680 4,846,772 # Senshu Electric Co., Ltd. 66,000 806,821 Senshukai Co., Ltd. 315,900 2,734,883 Shibaura Electronics Co., Ltd. 900 11,407 * Shibaura Mechatronics Corp. 159,000 396,558 Shibusawa Warehouse Co., Ltd. (The) 139,000 593,211 Shibuya Kogyo Co., Ltd. 58,100 1,099,997 Shiga Bank, Ltd. (The) 383,000 2,093,232 Shikibo, Ltd. 3,799,000 5,078,927 Shikoku Bank, Ltd. (The) 1,824,000 4,224,557 Shima Seiki Manufacturing, Ltd. 49,700 1,019,640 Shimachu Co., Ltd. 933,900 22,678,757 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- JAPAN -- (Continued) SHIMANE BANK, Ltd. (The) 8,900 $ 117,002 Shimizu Bank, Ltd. (The) 198,200 5,574,048 Shin Nippon Air Technologies Co., Ltd. 340,920 2,140,621 Shin-Etsu Polymer Co., Ltd. 668,400 2,351,054 Shinagawa Refractories Co., Ltd. 1,192,000 2,601,503 # Shinkawa, Ltd. 208,700 1,351,963 Shinko Electric Industries Co., Ltd. 30,600 272,794 Shinko Shoji Co., Ltd. 520,400 4,453,750 Shinko Wire Co., Ltd. 543,000 1,088,962 Shinmaywa Industries, Ltd. 2,777,000 21,757,626 # Shinnihon Corp. 565,100 1,968,204 Shinsho Corp. 404,000 837,326 Shiroki Corp. 411,000 921,900 Shobunsha Publications, Inc. 100,000 627,259 # Shoei Foods Corp. 185,400 1,470,255 Shofu, Inc. 1,100 9,946 Showa Corp. 340,800 4,730,064 # Sinanen Co., Ltd. 922,000 3,596,182 Sintokogio, Ltd. 646,362 4,863,743 SKY Perfect JSAT Holdings, Inc. 475,600 2,746,304 SNT Corp. 635,600 2,431,313 Soda Nikka Co., Ltd. 328,000 1,385,277 Sodick Co., Ltd. 33,300 155,659 Soft99 Corp. 52,300 369,607 SPK Corp. 1,418 25,485 Subaru Enterprise Co., Ltd. 247,000 951,474 Sugimoto & Co., Ltd. 114,700 1,053,318 Suminoe Textile Co., Ltd. 1,420,000 4,203,292 Sumitomo Bakelite Co., Ltd. 165,000 594,966 Sumitomo Densetsu Co., Ltd. 198,400 2,930,310 Sumitomo Precision Products Co., Ltd. 261,000 1,128,954 # Sumitomo Seika Chemicals Co., Ltd. 71,000 454,312 Sumitomo Warehouse Co., Ltd. (The) 32,000 187,675 Suncall Corp. 9,000 51,798 Suzuden Corp. 2,100 11,114 #* SWCC Showa Holdings Co., Ltd. 6,821,000 7,782,148 T RAD Co., Ltd. 426,000 1,350,593 T&K Toka Co., Ltd. 6,400 136,156 Tachi-S Co., Ltd. 42,500 678,328 Tachibana Eletech Co., Ltd. 270,600 3,100,482 Tachikawa Corp. 188,400 962,754 Taihei Dengyo Kaisha, Ltd. 881,000 6,203,707 Taiheiyo Kouhatsu, Inc. 2,060,000 2,291,790 Taiho Kogyo Co., Ltd. 445,100 5,601,213 Taiko Bank, Ltd. (The) 249,000 554,167 Takachiho Koheki Co., Ltd. 400 3,895 Takagi Securities Co., Ltd. 304,000 1,170,754 Takamatsu Construction Group Co., Ltd. 37,900 709,555 Takano Co., Ltd. 290,900 1,430,270 Takaoka Toko Holdings Co., Ltd. 37,244 756,432 Takara Standard Co., Ltd. 897,105 7,217,924 Takasago Thermal Engineering Co., Ltd. 465,800 3,892,770 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- JAPAN -- (Continued) Take And Give Needs Co., Ltd. 150,490 $ 3,083,159 Takigami Steel Construction Co., Ltd. (The) 194,000 778,928 Takihyo Co., Ltd. 17,000 70,057 Takiron Co., Ltd. 1,121,000 4,770,167 # Tamura Corp. 1,317,948 3,466,382 # Tayca Corp. 831,000 2,522,984 Tbk Co., Ltd. 564,000 3,128,971 TECHNO ASSOCIE Co., Ltd. 171,900 1,769,583 # Techno Ryowa, Ltd. 229,770 1,065,839 Teikoku Tsushin Kogyo Co., Ltd. 807,000 1,447,361 #* Tekken Corp. 3,732,000 12,203,632 #* Ten Allied Co., Ltd. 119,800 393,856 Tenma Corp. 573,900 7,434,293 Teraoka Seisakusho Co., Ltd. 169,100 688,097 Tigers Polymer Corp. 311,600 1,356,595 #* Toa Corp. 5,861,000 14,242,988 # Toa Oil Co., Ltd. 874,000 1,638,985 TOA ROAD Corp. 747,000 4,077,054 # Toabo Corp. 1,140,000 930,400 Tochigi Bank, Ltd. (The) 2,865,000 10,955,708 Toda Corp. 5,130,000 18,754,411 # Toda Kogyo Corp. 177,000 539,705 # Toenec Corp. 1,100,000 6,861,237 Toho Bank, Ltd. (The) 4,361,000 13,690,573 # Toho Zinc Co., Ltd. 310,000 934,273 Tohoku Bank, Ltd. (The) 1,543,000 2,297,861 Tohokushinsha Film Corp. 6,400 62,667 # Tohto Suisan Co., Ltd. 734,000 1,602,137 Tokai Carbon Co., Ltd. 2,233,000 7,677,031 Tokai Lease Co., Ltd. 672,000 1,225,884 Tokai Rubber Industries, Ltd. 135,100 1,243,663 Tokushu Tokai Paper Co., Ltd. 1,610,220 3,311,717 # Tokuyama Corp. 10,164,000 39,314,444 Tokyo Electron Device, Ltd. 7,200 112,137 Tokyo Energy & Systems, Inc. 639,000 3,400,253 Tokyo Keiki, Inc. 249,000 771,850 * Tokyo Kikai Seisakusho, Ltd. 121,000 147,311 Tokyo Ohka Kogyo Co., Ltd. 253,900 5,608,852 #* Tokyo Rope Manufacturing Co., Ltd. 785,000 1,370,233 Tokyo Sangyo Co., Ltd. 529,000 1,811,109 Tokyo Soir Co., Ltd. 86,000 229,105 #* Tokyo Steel Manufacturing Co., Ltd. 3,265,100 17,544,824 Tokyo Tekko Co., Ltd. 1,178,000 5,063,636 # Tokyo Tomin Bank, Ltd. (The) 666,100 7,137,675 * Tokyu Construction Co., Ltd. 17,690 103,949 # Tokyu Recreation Co., Ltd. 256,328 1,498,674 Toli Corp. 1,034,000 2,174,571 Tomato Bank, Ltd. 1,324,000 2,332,091 Tomen Devices Corp. 500 8,567 Tomen Electronics Corp. 271,600 3,081,921 # Tomoe Corp. 895,900 4,582,224 Tomoe Engineering Co., Ltd. 3,200 50,957 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- JAPAN -- (Continued) Tomoku Co., Ltd. 1,403,000 $ 4,478,624 TOMONY Holdings, Inc. 3,244,000 12,254,245 Tonami Holdings Co., Ltd. 1,540,000 3,360,594 Toppan Forms Co., Ltd. 704,700 6,572,454 Topre Corp. 290,500 4,075,992 Topy Industries, Ltd. 3,642,000 7,982,900 Torii Pharmaceutical Co., Ltd. 302,800 7,851,599 # Torishima Pump Manufacturing Co., Ltd. 19,100 170,041 Tosei Corp. 27,100 217,530 # Tosho Printing Co., Ltd. 1,091,000 2,923,565 Totetsu Kogyo Co., Ltd. 108,330 2,439,832 Tottori Bank, Ltd. (The) 1,075,000 2,068,982 Towa Bank, Ltd. (The) 2,593,000 2,371,519 Toyo Ink SC Holdings Co., Ltd. 1,028,000 5,240,667 Toyo Kohan Co., Ltd. 2,110,000 9,598,506 Toyo Machinery & Metal Co., Ltd. 7,800 30,870 # Toyo Securities Co., Ltd. 587,000 2,010,650 # Toyo Tanso Co., Ltd. 20,600 390,411 # Toyo Wharf & Warehouse Co., Ltd. 901,000 2,441,437 Trusco Nakayama Corp. 174,339 3,711,740 TSI Holdings Co., Ltd. 2,359,820 16,679,925 Tsubakimoto Kogyo Co., Ltd. 42,000 113,333 #* Tsudakoma Corp. 1,174,000 1,926,028 Tsukishima Kikai Co., Ltd. 371,000 3,906,912 Tsukuba Bank, Ltd. (The) 1,080,167 3,777,313 Tsurumi Manufacturing Co., Ltd. 312,000 3,196,400 Tsutsumi Jewelry Co., Ltd. 264,300 6,439,824 TTK Co., Ltd. 136,000 591,335 Tv Tokyo Holdings Corp. 110,100 1,896,557 TYK Corp. 690,000 1,730,628 # U-Shin, Ltd. 655,400 4,875,303 Ube Industries, Ltd. 151,200 312,968 Uchida Yoko Co., Ltd. 1,359,000 3,987,354 Ueki Corp. 146,000 325,113 UKC Holdings Corp. 100,000 1,993,388 * Ulvac, Inc. 512,300 5,238,832 #* Uniden Corp. 1,639,000 4,077,805 UNY Group Holdings Co., Ltd. 767,100 4,840,636 # Village Vanguard Co., Ltd. 202 313,048 Vital KSK Holdings, Inc. 223,815 1,569,844 Wakita & Co., Ltd. 238,000 3,099,204 Warabeya Nichiyo Co., Ltd. 174,100 3,248,408 Watabe Wedding Corp. 53,100 397,882 Wood One Co., Ltd. 602,000 1,704,046 Y A C Co., Ltd. 80,500 510,801 Yachiyo Bank, Ltd. (The) 161,375 4,402,156 Yachiyo Industry Co., Ltd. 14,900 106,333 Yahagi Construction Co., Ltd. 39,900 279,460 Yaizu Suisankagaku Industry Co., Ltd. 19,300 170,850 YAMABIKO Corp. 141,774 4,335,831 Yamagata Bank, Ltd. (The) 1,946,000 8,103,052 * Yamaichi Electronics Co., Ltd. 192,400 479,819 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ --------- -------------- JAPAN -- (Continued) Yamanashi Chuo Bank, Ltd. (The) 3,156,000 $ 13,324,805 Yamatane Corp. 12,000 22,553 Yamato Corp. 336,000 1,223,780 # Yamato International, Inc. 13,800 61,424 Yamaura Corp. 63,000 187,744 Yamazawa Co., Ltd. 2,200 34,036 Yashima Denki Co., Ltd. 9,200 39,732 Yasuda Warehouse Co., Ltd. (The) 191,300 2,388,946 Yellow Hat, Ltd. 205,800 3,748,265 Yodogawa Steel Works, Ltd. 3,721,000 16,832,595 Yokogawa Bridge Holdings Corp. 667,000 9,498,465 # Yokohama Reito Co., Ltd. 1,150,400 9,105,138 Yokowo Co., Ltd. 33,300 188,966 Yondenko Corp. 443,650 1,566,906 Yonekyu Corp. 2,000 15,762 Yonex Co., Ltd. 149,000 826,221 Yorozu Corp. 13,300 262,423 Yuasa Funashoku Co., Ltd. 538,000 1,293,994 Yuken Kogyo Co., Ltd. 26,000 57,405 Yurtec Corp. 1,162,000 3,774,153 Yusen Logistics Co., Ltd. 99,100 1,118,866 Yushiro Chemical Industry Co., Ltd. 9,600 87,330 Zojirushi Corp. 68,000 273,078 # Zuken, Inc. 37,800 312,203 -------------- TOTAL JAPAN 2,572,954,026 -------------- NETHERLANDS -- (1.8%) Accell Group 567 11,576 * AMG Advanced Metallurgical Group NV 20,916 233,488 # APERAM 1,493,533 25,516,373 ASM International NV 87,433 2,871,873 #* Ballast Nedam 9,138 141,064 BE Semiconductor Industries NV 815,793 8,864,752 BinckBank NV 248,289 2,388,755 Corbion NV 919,743 21,308,312 * Crown Van Gelder 9,784 49,823 Delta Lloyd NV 2,392,235 50,719,278 #* Grontmij 118,051 599,560 # Heijmans NV 480,160 6,369,209 Hunter Douglas NV 248 10,708 #* Kardan NV 10,816 5,464 # KAS Bank NV 284,482 3,840,561 Kendrion NV 1,291 40,487 # Koninklijke BAM Groep NV 6,983,328 37,140,694 Koninklijke Ten Cate NV 136,688 4,150,109 # Koninklijke Wessanen NV 542,912 2,030,990 Macintosh Retail Group NV 7,600 83,503 * Ordina NV 1,952,856 3,408,375 #* SNS REAAL NV 4,344,025 -- Telegraaf Media Groep NV 79,424 1,036,071 #* TomTom NV 2,515,210 19,420,675 USG People NV 1,928,586 25,494,226 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ ---------- ------------ NETHERLANDS -- (Continued) * Van Lanschot NV 57 $ 1,408 ------------ TOTAL NETHERLANDS 215,737,334 ------------ NEW ZEALAND -- (0.3%) Abano Healthcare Group, Ltd. 754 4,264 # Air New Zealand, Ltd. 9,026,267 12,007,911 Auckland International Airport, Ltd. 621,897 1,760,486 Cavalier Corp., Ltd. 3,143 4,724 CDL Investments New Zealand, Ltd. 587,196 265,709 Chorus, Ltd. 60,201 131,758 Colonial Motor Co., Ltd. (The) 243,551 991,184 Heartland New Zealand, Ltd. 580,851 402,484 Kathmandu Holdings, Ltd. 8,970 28,790 # Metlifecare, Ltd. 39,361 132,657 Millennium & Copthorne Hotels New Zealand, Ltd. 2,998,736 1,662,166 New Zealand Oil & Gas, Ltd. 2,060,818 1,429,917 New Zealand Refining Co., Ltd. (The) 20,756 38,584 Northland Port Corp. NZ, Ltd. 22,463 52,798 # Nuplex Industries, Ltd. 2,797,790 8,087,358 # PGG Wrightson, Ltd. 2,111,833 715,580 Richina Pacific, Ltd. 832,183 247,458 #* Rubicon, Ltd. 3,767,301 1,107,461 Sanford Ltd. 1,099,644 4,147,806 Sky Network Television, Ltd. 383,000 1,961,468 Steel & Tube Holdings, Ltd. 155,098 406,897 * Tenon, Ltd. 137,210 165,842 Tourism Holdings, Ltd. 870,292 574,974 Tower, Ltd. 2,993,341 4,576,309 ------------ TOTAL NEW ZEALAND 40,904,585 ------------ NORWAY -- (1.0%) Aker ASA Class A 47,986 1,511,758 #* Archer, Ltd. 1,623,981 1,476,151 Austevoll Seafood ASA 475,783 2,954,018 Bonheur ASA 221,052 5,052,999 BW Offshore, Ltd. 4,745,735 6,494,915 * BWG Homes ASA 996,334 1,851,410 Cermaq ASA 72,561 1,285,934 * Deep Sea Supply PLC 6,844 12,925 #* DOF ASA 536,217 2,514,480 Eltek ASA 1,445,669 1,701,515 Evry ASA 239,145 389,037 Farstad Shipping ASA 207,709 4,716,339 #* Frontline, Ltd. 537,534 1,142,317 Ganger Rolf ASA 402,700 9,038,503 # Golden Ocean Group Ltd. 5,477,374 8,253,873 #* Grieg Seafood ASA 103,905 324,830 * Havila Shipping ASA 38,346 224,475 * Kongsberg Automotive Holding ASA 10,167,813 7,843,344 #* Norske Skogindustrier ASA 3,907,541 2,133,781 #* Norwegian Energy Co. A.S. 5,386,684 271,216 #* Odfjell SE Class A 249,000 1,785,763 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ ----------- ------------ NORWAY -- (Continued) #* Panoro Energy ASA 3,127,370 $ 1,657,249 #* REC Silicon ASA 19,165,900 9,543,765 #* REC Solar AS 301,722 3,851,954 #* Sevan Drilling A.S. 2,937,720 2,802,312 #* Sevan Marine ASA 531,955 2,369,328 * Siem Offshore, Inc. 415,988 677,444 Solstad Offshore ASA 359,703 7,134,835 #* Songa Offshore 3,681,507 3,470,950 SpareBank 1 SMN 1,320,578 11,129,153 Stolt-Nielsen, Ltd. 18,842 533,489 * Storebrand ASA 689,852 4,460,918 TTS Group ASA 74,071 82,029 Wilh Wilhelmsen Holding ASA Class A 253,267 7,753,413 ------------ TOTAL NORWAY 116,446,422 ------------ PORTUGAL -- (0.3%) #* Banco Comercial Portugues SA 187,787,505 28,003,174 * Banco Espirito Santo SA 618,194 812,292 Corticeira Amorim SGPS SA 2,076,904 5,762,527 * EDP Renovaveis SA 13,818 75,966 * Papelaria Fernandes-Industria e Comercia SA 2,000 -- #* Sonae Industria SGPS SA 1,299,009 1,060,715 Sonaecom - SGPS SA 1,574,394 5,104,942 * Sumol + Compal SA 53,800 75,827 ------------ TOTAL PORTUGAL 40,895,443 ------------ RUSSIA -- (0.1%) #* Alliance Oil Co., Ltd. 919,969 8,176,906 ------------ SINGAPORE -- (1.6%) * Abterra, Ltd. 52,000 22,849 # ASL Marine Holdings, Ltd. 1,083,800 579,499 # Ausgroup, Ltd. 1,148,000 272,756 Banyan Tree Holdings, Ltd. 39,000 21,212 Biosensors International Group, Ltd. 90,000 68,051 Bonvests Holdings, Ltd. 1,338,280 1,259,754 * Broadway Industrial Group, Ltd. 3,557,000 644,154 # China Merchants Holdings Pacific, Ltd. 1,238,000 847,071 # Chip Eng Seng Corp., Ltd. 8,982,198 5,091,573 Chuan Hup Holdings, Ltd. 7,757,000 1,779,408 Creative Technology, Ltd. 820,850 1,459,000 CSC Holdings, Ltd. 348,000 28,346 #* Delong Holdings, Ltd. 679,000 196,127 DMX Technologies Group, Ltd. 3,585,000 633,606 EnGro Corp., Ltd. 115,500 92,062 * Excel Machine Tools, Ltd 473,000 -- #* Ezra Holdings, Ltd. 15,946,000 17,185,801 Falcon Energy Group, Ltd. 173,000 54,085 Far East Orchard, Ltd. 5,199,720 8,197,027 Freight Links Express Holdings, Ltd. 152,079 13,092 GK Goh Holdings, Ltd. 2,295,000 1,615,178 GP Batteries International, Ltd. 259,000 166,970 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- SINGAPORE -- (Continued) GP Industries, Ltd. 2,169,808 $ 890,318 * Hanwell Holdings, Ltd. 6,729,043 1,411,149 * Healthway Medical Corp., Ltd. 4,190,000 226,045 HG Metal Manufacturing, Ltd. 1,230,000 78,070 Hi-P International, Ltd. 66,000 32,114 Hiap Hoe, Ltd. 47,000 30,597 Ho Bee Land, Ltd. 6,991,000 11,574,810 Hong Fok Corp., Ltd. 7,753,000 4,459,086 Hong Leong Asia, Ltd. 917,000 1,073,409 # Hotel Grand Central, Ltd. 2,640,058 2,249,654 # Hotel Properties, Ltd. 2,511,500 6,345,157 Hour Glass, Ltd. (The) 402,320 547,446 * Huan Hsin Holdings, Ltd. 172,000 5,123 HupSteel, Ltd. 29,000 5,146 Hwa Hong Corp., Ltd. 1,014,000 252,927 # Indofood Agri Resources, Ltd. 1,455,000 1,065,100 InnoTek, Ltd. 4,171,000 1,143,859 #* International Healthway Corp., Ltd. 95,048 27,597 # IPC Corp., Ltd. 16,472,000 2,037,094 Isetan Singapore, Ltd. 171,000 608,640 # Jaya Holdings, Ltd. 3,964,000 2,183,978 * Jurong Technologies Industrial Corp., Ltd. 3,391,000 -- K1 Ventures, Ltd. 14,032,000 2,058,667 Koh Brothers Group, Ltd. 1,464,000 347,788 LC Development, Ltd. 6,875,960 851,829 Lee Kim Tah Holdings, Ltd. 2,313,000 1,681,234 * Li Heng Chemical Fibre Technologies, Ltd. 11,463,000 1,137,626 Lian Beng Group, Ltd. 1,624,000 724,990 # Low Keng Huat Singapore, Ltd. 85,000 46,874 Lum Chang Holdings, Ltd. 1,311,000 369,400 Marco Polo Marine, Ltd. 129,000 38,858 * Mercator Lines Singapore, Ltd. 777,000 68,483 # Mermaid Maritime PCL 1,134,000 296,489 # Metro Holdings, Ltd. 10,849,960 7,285,588 Mewah International, Inc. 56,000 21,660 # Midas Holdings, Ltd. 22,479,000 9,025,892 NSL, Ltd. 671,000 772,536 #* Oceanus Group, Ltd. 11,176,000 134,432 #* Otto Marine, Ltd. 19,127,500 813,065 # OUE, Ltd. 1,412,000 2,748,516 * Penguin International, Ltd. 863,250 80,500 Popular Holdings, Ltd. 8,482,250 1,742,487 QAF, Ltd. 3,807,103 2,572,197 * Raffles Education Corp., Ltd. 15,641,200 3,776,653 Rickmers Maritime 98,000 22,862 * S I2I, Ltd. 22,499,000 325,495 San Teh, Ltd. 952,800 238,271 * Sapphire Corp., Ltd. 657,000 59,209 Sinarmas Land, Ltd. 476,000 210,291 Sing Holdings, Ltd. 399,000 141,400 Sing Investments & Finance, Ltd. 84,000 91,951 # Singapore Land, Ltd. 1,133,806 7,915,241 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ ---------- ------------ SINGAPORE -- (Continued) Singapore Reinsurance Corp., Ltd. 3,080,110 $ 628,797 Singapore Shipping Corp., Ltd. 1,148,000 194,317 Singapura Finance, Ltd. 105,000 130,950 Stamford Land Corp., Ltd. 4,041,000 1,852,377 Sunningdale Tech, Ltd. 8,648,000 882,372 #* SunVic Chemical Holdings, Ltd. 7,560,000 2,646,676 # Swiber Holdings, Ltd. 15,419,000 7,762,043 # Tat Hong Holdings, Ltd. 396,000 297,520 Tiong Woon Corp. Holding, Ltd. 8,059,500 2,102,380 Tuan Sing Holdings, Ltd. 17,646,263 4,545,227 # UMS Holdings, Ltd. 2,959,000 1,322,820 # United Engineers, Ltd. 9,399,332 13,996,734 # United Envirotech, Ltd. 148,000 99,336 United Industrial Corp., Ltd. 4,189,946 10,347,490 Wheelock Properties Singapore, Ltd. 2,365,000 3,236,356 Wing Tai Holdings, Ltd. 9,494,054 16,856,967 # Yeo Hiap Seng, Ltd. 946,457 1,939,396 YHI International, Ltd. 31,000 6,673 ------------ TOTAL SINGAPORE 190,923,855 ------------ SPAIN -- (2.4%) # Abengoa SA 679,263 2,099,539 # Abengoa SA Class B 2,134,454 5,168,536 # Acciona SA 99,983 6,338,152 # Acerinox SA 133,679 1,762,096 Adveo Group International SA 174,804 3,268,463 # Bankinter SA 11,466,414 69,912,115 * Baron de Ley 22,116 1,874,546 #* Caja de Ahorros del Mediterraneo 298,813 -- #* Campofrio Food Group SA 108,422 868,203 #* Cementos Portland Valderrivas SA 215,832 1,994,439 * Deoleo SA 8,782,900 5,001,025 Dinamia Capital Privado Sociedad de Capital Riesgo SA 44,356 401,534 #* Dogi International Fabrics SA 191,727 -- Ebro Foods SA 50,273 1,134,038 Ence Energia y Celulosa SA 4,041,949 16,233,196 #* Ercros SA 1,759,942 1,340,178 * Espanola del ZInc.SA 53,703 -- Fluidra SA 104,786 358,036 #* Fomento de Construcciones y Contratas SA 769,152 17,697,510 * Gamesa Corp. Tecnologica SA 7,418,085 71,637,070 Grupo Catalana Occidente SA 27,603 933,862 * Grupo Ezentis SA 734,568 410,434 Iberpapel Gestion SA 107,514 2,230,865 # Melia Hotels International SA 1,283,223 14,528,532 Miquel y Costas & Miquel SA 20,366 786,998 * Natra SA 28,797 87,650 #* NH Hoteles SA 3,144,348 16,410,803 Obrascon Huarte Lain SA 7,784 326,028 Papeles y Cartones de Europa SA 850,722 4,561,246 * Pescanova SA 338,483 -- #* Promotora de Informaciones SA Class A 7,322,195 3,716,478 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ --------- ------------ SPAIN -- (Continued) #* Realia Business SA 1,112,704 $ 1,205,363 #* Sacyr SA 7,674,657 41,304,181 * Sociedad Nacional de Industrias Apicaciones Celulosa Espanola SA 370,644 98,635 #* Solaria Energia y Medio Ambiente SA 876,126 963,177 * Telecomunicaciones y Energia 27,445 47,729 * Vocento SA 14,029 28,121 ------------ TOTAL SPAIN 294,728,778 ------------ SWEDEN -- (3.2%) Acando AB 879,038 1,724,582 AddNode Group AB 37,990 220,129 AF AB Class B 7,440 235,034 * Arise AB 46,468 170,155 B&B Tools AB Class B 176,157 2,414,379 * BE Group AB 218,740 382,708 # Beijer AB G&L Class B 185,323 3,885,296 Beijer Alma AB 23,287 608,117 Bilia AB Class A 442,474 10,715,260 # BillerudKorsnas AB 3,506,767 41,139,347 Biotage AB 895,743 1,394,886 Bure Equity AB 1,257,039 4,857,582 * Catella AB 81,289 75,999 Catena AB 100,232 1,586,629 Cision AB 24,139 121,506 #* Cloetta AB Class B 43,101 134,743 Concentric AB 656,113 6,748,713 Concordia Maritime AB Class B 400,102 711,083 * CyberCom Group AB 332,333 121,566 Duni AB 114,840 1,293,012 * East Capital Explorer AB 91,353 770,615 #* Eniro AB 2,418,980 10,509,802 FinnvedenBulten AB 13,876 89,728 Gunnebo AB 233,956 1,343,511 Haldex AB 1,227,419 8,889,189 # Holmen AB Class B 1,385,639 46,026,833 Industrial & Financial Systems Class B 51,556 1,184,121 * KappAhl AB 139,597 825,375 #* Karolinska Development AB Class B 89,659 460,193 KNOW IT AB 149,557 1,272,243 Lagercrantz AB Class B 204,806 3,555,394 * Lindab International AB 248,648 2,420,926 Meda AB Class A 1,651,937 18,537,183 #* Micronic Mydata AB 1,744,849 3,499,924 MQ Holding AB 193,387 536,520 # NCC AB Class B 110,421 3,396,472 * Net Insight AB Class B 198,948 42,022 # New Wave Group AB Class B 1,076,056 6,112,508 Nobia AB 539,201 4,693,921 Nolato AB Class B 156,951 3,202,738 OEM International AB Class B 7,400 85,597 #* PA Resources AB 216,361 333,888 Peab AB 938,183 5,516,267 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ --------- ------------ SWEDEN -- (Continued) # Pricer AB Class B 439,583 $ 494,176 Proact IT Group AB 63,000 687,990 # Ratos AB Class B 172,444 1,492,317 * Rederi AB Transatlantic 97,560 100,147 * rnb Retail and Brands AB 106,053 194,977 Saab AB Class B 716,322 14,339,736 #* SAS AB 3,578,362 10,707,102 Semcon AB 13,958 152,019 # SSAB AB Class A 4,143,538 27,258,427 SSAB AB Class B 1,018,644 5,747,218 * Swedish Orphan Biovitrum AB 1,100,510 10,518,971 * TradeDoubler AB 87,302 241,163 * Transcom WorldWide SA 892,526 177,593 # Trelleborg AB Class B 6,024,942 113,688,584 ------------ TOTAL SWEDEN 387,646,116 ------------ SWITZERLAND -- (4.1%) * Acino Holding AG 34,943 4,427,132 * AFG Arbonia-Forster Holding AG 278,888 9,666,696 Allreal Holding AG 141,765 19,490,872 Alpiq Holding AG 686 90,602 ALSO Holding AG 9,195 480,051 Autoneum Holding AG 15,174 2,020,242 Baloise Holding AG 216,720 25,177,197 Bank Coop AG 18,665 980,260 Banque Cantonale de Geneve 13,130 3,355,624 Banque Cantonale du Jura 7,948 579,649 Basler Kantonalbank 1,119 94,171 # Bellevue Group AG 29,539 423,669 * Bobst Group AG 191,684 6,765,759 Bossard Holding AG 1,314 267,268 Carlo Gavazzi Holding AG 7,688 1,763,383 Cham Paper Holding AG 11,660 3,076,074 * Charles Voegele Holding AG 161,832 2,083,352 Cicor Technologies 10,828 385,180 Cie Financiere Tradition SA 1,051 56,890 Clariant AG 2,218,644 39,092,148 Coltene Holding AG 58,365 3,015,536 Conzzeta AG 3,818 7,919,934 Daetwyler Holding AG 136,269 17,328,120 # EFG International AG 709,753 10,442,731 Emmi AG 39,124 11,256,730 Energiedienst Holding AG 318 10,885 Flughafen Zuerich AG 49,184 27,257,105 Forbo Holding AG 9,088 7,126,158 GAM Holding AG 1,855,692 34,675,190 Georg Fischer AG 31,225 21,509,269 Gurit Holding AG 8,656 4,021,617 Helvetia Holding AG 121,594 57,348,474 Implenia AG 265,310 17,867,197 Intershop Holdings 7,875 2,855,942 Jungfraubahn Holding AG 3,774 270,018 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ ---------- ------------ SWITZERLAND -- (Continued) Kardex AG 59,580 $ 2,595,992 Komax Holding AG 17,326 2,371,099 Kudelski SA 163,603 2,256,374 Liechtensteinische Landesbank AG 28,394 1,125,004 Lonza Group AG 96,369 8,602,178 MCH Group AG 4,014 267,830 #* Meyer Burger Technology AG 1,072,947 12,589,661 Micronas Semiconductor Holding AG 100,278 820,765 Mikron Holding AG 38,875 228,241 Mobimo Holding AG 21,659 4,535,657 #* Orascom Development Holding AG 102,606 1,461,916 PubliGroupe AG 3,692 365,541 Romande Energie Holding SA 4,003 5,003,564 * Schmolz + Bickenbach AG 7,264,075 9,193,380 Schweiter Technologies AG 940 630,483 Schweizerische National-Versicherungs-Gesellschaft AG 382,940 18,926,075 Siegfried Holding AG 28,630 4,720,449 St Galler Kantonalbank AG 9,877 4,016,807 Swiss Life Holding AG 237,965 47,183,777 Swisslog Holding AG 286,563 334,431 Tamedia AG 398 47,300 * Tornos Holding AG 42,112 208,348 Valartis Group AG 4,409 90,154 Valiant Holding 62,264 5,808,399 Valora Holding AG 32,577 8,048,969 Vaudoise Assurances Holding SA Class B 21,719 9,183,610 Verwaltungs- und Privat-Bank AG 34,453 3,339,790 Vetropack Holding AG 187 373,615 Vontobel Holding AG 84,682 3,389,562 Zug Estates Holding AG 72 93,499 ------------ TOTAL SWITZERLAND 500,993,595 ------------ UNITED KINGDOM -- (22.5%) Acal P.L.C. 327,161 1,751,256 # African Barrick Gold P.L.C. 593,435 1,833,642 * Aga Rangemaster Group P.L.C. 1,951,519 4,040,823 Alent P.L.C. 5,707,469 31,719,178 Alumasc Group P.L.C. 575,307 1,259,901 * Amberley Group P.L.C. 71,000 -- Amlin P.L.C. 11,024,189 75,323,453 Anglo Pacific Group P.L.C. 1,280,994 4,559,201 Anglo-Eastern Plantations 241,403 2,613,937 Ashtead Group P.L.C. 10,275,968 107,981,373 Avesco Group, Ltd. 84,124 302,605 Barratt Developments P.L.C. 23,445,340 125,727,208 BBA Aviation P.L.C. 1,446,324 7,839,402 Beazley P.L.C. 12,470,827 45,713,302 Bellway P.L.C. 3,448,205 83,054,770 Berendsen P.L.C. 766,987 11,944,242 Bloomsbury Publishing P.L.C. 81,160 224,206 Bodycote P.L.C. 5,021,077 52,927,267 BOOT HENRY P.L.C. 1,143,997 3,310,444 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- UNITED KINGDOM -- (Continued) Bovis Homes Group P.L.C. 3,855,116 $48,499,105 Braemar Shipping Services P.L.C. 1,546 13,299 British Polythene Industries P.L.C. 323,518 3,544,765 # Bwin.Party Digital Entertainment P.L.C. 1,058,674 2,079,990 * Cairn Energy P.L.C. 1,365,015 6,185,079 Camellia P.L.C. 2,629 367,969 Cape P.L.C. 205,431 908,773 Capital & Regional P.L.C. 5,344,220 3,702,989 Carclo P.L.C. 23,006 138,633 Carillion P.L.C. 3,315,763 16,154,405 Carr's Milling Industries P.L.C. 46,170 1,286,403 Castings P.L.C. 435,213 3,017,834 Catlin Group, Ltd. 9,072,341 74,529,294 # Centaur Media P.L.C. 131,854 118,521 Chemring Group P.L.C. 99,744 348,081 Chesnara P.L.C. 217,902 1,021,001 Chime Communications P.L.C. 186,985 949,237 Close Brothers Group P.L.C. 1,704,269 34,514,454 * Coalfield Resources P.L.C. 911,673 89,250 * Colt Group SA 5,697,536 11,258,306 Communisis P.L.C. 2,806,381 2,841,047 Computacenter P.L.C. 1,910,955 18,116,454 Creston P.L.C. 187,426 301,435 CSR P.L.C. 4,886,688 43,044,052 Daejan Holdings P.L.C. 79,784 5,304,794 Dairy Crest Group P.L.C. 668,305 5,755,415 Debenhams P.L.C. 2,582,723 4,213,262 Development Securities P.L.C. 2,540,344 9,523,173 * Dixons Retail P.L.C. 78,168,061 61,244,756 Drax Group P.L.C. 269,252 2,748,887 DS Smith P.L.C. 15,213,647 73,739,578 easyJet P.L.C. 2,965,500 62,118,708 Elementis P.L.C. 4,011,297 16,651,492 * EnQuest P.L.C. 231,181 494,256 * Enterprise Inns P.L.C. 11,707,291 28,442,499 * Essar Energy P.L.C. 2,019,787 3,846,678 #* Exillon Energy P.L.C. 564,716 2,150,151 F&C Asset Management P.L.C. 11,435,011 18,600,707 Ferrexpo P.L.C. 21,253 61,714 Fiberweb P.L.C. 1,115,249 1,818,369 * Findel P.L.C. 3,863 15,764 Firstgroup P.L.C. 1,181,667 2,185,347 Fortune Oil P.L.C. 30,128 4,760 * Future P.L.C. 1,768,908 468,097 Galliford Try P.L.C. 779,555 14,351,518 * Gem Diamonds, Ltd. 1,991,383 5,084,626 Grafton Group P.L.C. 1,749,481 16,616,587 Greene King P.L.C. 4,908,532 64,953,578 * Hardy Oil & Gas P.L.C. 78,909 134,040 Harvey Nash Group P.L.C. 660,735 977,343 Helical Bar P.L.C. 2,462,462 11,847,499 * Heritage Oil P.L.C. 2,612,012 7,762,518 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ ---------- ------------ UNITED KINGDOM -- (Continued) Hiscox, Ltd. 9,603,622 $101,955,499 Home Retail Group P.L.C. 17,508,245 55,860,306 Hunting P.L.C. 31,124 444,661 Huntsworth P.L.C. 3,242,574 3,401,330 Inchcape P.L.C. 8,776,728 89,609,482 Intermediate Capital Group P.L.C. 2,324,248 17,835,381 * International Ferro Metals, Ltd. 1,960,461 277,072 Interserve P.L.C. 499,652 4,924,828 * IP Group P.L.C. 208,807 492,212 #* JKX Oil & Gas P.L.C. 391,101 467,018 #* Johnston Press P.L.C. 9,581,891 2,079,125 Keller Group P.L.C. 553,628 9,325,136 Laird P.L.C. 3,501,358 14,006,650 * Lamprell P.L.C. 493,889 1,298,564 Lancashire Holdings, Ltd. 1,128,650 14,686,285 Lavendon Group P.L.C. 1,928,013 5,680,722 #* Lonmin P.L.C. 3,762,001 19,431,366 Lookers P.L.C. 257,901 537,009 Low & Bonar P.L.C. 3,354,294 4,140,366 Man Group P.L.C. 10,173,324 14,478,883 Management Consulting Group P.L.C. 3,190,021 1,252,715 Marshalls P.L.C. 1,529,098 4,268,777 Marston's P.L.C. 13,861,464 33,750,740 Mecom Group P.L.C. 284,847 306,143 Meggitt P.L.C. 4,813,743 44,191,006 Millennium & Copthorne Hotels P.L.C. 4,813,561 43,996,499 * Mitchells & Butlers P.L.C. 5,754,583 36,965,871 MJ Gleeson Group P.L.C. 647,169 3,227,601 Mondi P.L.C. 6,004,641 107,218,486 Morgan Sindall Group P.L.C. 97,878 1,247,811 * Mothercare P.L.C. 182,034 1,115,530 MS International P.L.C. 75,000 210,592 National Express Group P.L.C. 3,523,732 14,749,537 # New World Resources P.L.C. Class A 32,193 46,250 Northgate P.L.C. 2,583,495 18,738,869 Novae Group P.L.C. 616,957 5,486,928 Pace P.L.C. 1,139,796 5,566,287 Panther Securities P.L.C. 34,430 189,170 Pendragon P.L.C. 6,015,813 3,665,424 Persimmon P.L.C. 7,739,467 156,694,688 * Petra Diamonds, Ltd. 21,276 38,003 # Petropavlovsk P.L.C. 898,784 1,153,406 Phoenix Group Holdings 914,410 11,402,879 Phoenix IT Group, Ltd. 16,230 38,105 * Pinnacle Staffing Group P.L.C. 903,519 -- * Premier Foods P.L.C. 5,556,670 13,421,050 * Punch Taverns P.L.C. 9,491,987 2,062,783 * PV Crystalox Solar P.L.C. 341,477 69,809 * Quintain Estates & Development P.L.C. 7,596,061 11,826,397 REA Holdings P.L.C. 1,354 8,700 Redrow P.L.C. 5,600,709 23,786,699 * Renold P.L.C. 1,175,797 812,156 DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES VALUE++ ---------- --------------- UNITED KINGDOM -- (Continued) RPS Group P.L.C. 510,201 $ 2,378,067 S&U P.L.C. 4,296 100,144 * Salamander Energy P.L.C. 1,363,504 2,348,253 Severfield-Rowen P.L.C. 287,223 293,367 Shanks Group P.L.C. 5,901,551 9,991,479 SIG P.L.C. 14,208,459 46,883,529 Soco International P.L.C. 4,271 27,250 Speedy Hire P.L.C. 2,736,196 2,855,598 Spirit Pub Co. P.L.C. 11,153,659 13,095,997 * Sportech P.L.C. 132,623 185,002 St Ives P.L.C. 2,304,784 6,666,533 ST Modwen Properties P.L.C. 3,947,845 22,296,363 Taylor Wimpey P.L.C. 76,091,760 134,253,718 * Thomas Cook Group P.L.C. 27,405,032 63,074,658 Travis Perkins P.L.C. 5,306,411 157,799,623 Treatt P.L.C. 23,754 228,652 Trifast P.L.C. 888,900 1,124,717 #* Trinity Mirror P.L.C. 7,644,285 16,318,071 TT electronics P.L.C. 2,534,061 8,088,346 TUI Travel P.L.C. 4,381,582 27,012,205 Tullett Prebon P.L.C. 12,661 64,493 UTV Media P.L.C. 1,877 6,844 Vedanta Resources P.L.C. 12,652 215,564 Vesuvius P.L.C. 5,951,466 46,267,961 Vislink P.L.C. 338,887 265,133 Vp P.L.C. 315,426 2,511,623 * William Ransom & Son Holding P.L.C. 65,000 -- Xchanging P.L.C. 1,136,112 2,306,498 --------------- TOTAL UNITED KINGDOM 2,731,373,196 --------------- TOTAL COMMON STOCKS 11,112,464,963 --------------- PREFERRED STOCKS -- (0.0%) FRANCE -- (0.0%) * Valneva SE 13,627 7,401 --------------- RIGHTS/WARRANTS -- (0.0%) AUSTRIA -- (0.0%) * Intercell AG Rights 05/16/13 41,929 -- --------------- ISRAEL -- (0.0%) * Tower Semiconductor, Ltd. Warrants 06/27/17 535 432 --------------- ITALY -- (0.0%) * Hera SpA Rights 11/19/13 14,669 265 --------------- TOTAL RIGHTS/WARRANTS 697 --------------- DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO CONTINUED SHARES/ FACE AMOUNT (000) VALUE+ ----------- --------------- SECURITIES LENDING COLLATERAL -- (8.7%) (S)@ DFA Short Term Investment Fund 91,011,236 $ 1,053,000,000 @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $85,122 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $76,977) to be repurchased at $75,468 $ 75 75,468 --------------- TOTAL SECURITIES LENDING COLLATERAL 1,053,075,468 --------------- TOTAL INVESTMENTS -- (100.0%) (Cost $10,147,270,819) $12,165,548,529 =============== INTERNATIONAL VECTOR EQUITY PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 SHARES VALUE++ ------- ---------- COMMON STOCKS -- (90.1%) AUSTRALIA -- (6.2%) # Adelaide Brighton, Ltd. 154,024 $ 560,597 * Aditya Birla Minerals, Ltd. 33,991 10,930 * AED Oil, Ltd. 28,704 -- * AJ Lucas Group, Ltd. 9,790 11,075 * Alkane Resources, Ltd. 6,922 2,540 # ALS Ltd/Queensland 24,168 228,623 * Alumina, Ltd. 887,683 863,067 * Alumina, Ltd. Sponsored ADR 900 3,492 Amalgamated Holdings, Ltd. 29,399 225,410 # Amcom Telecommunications, Ltd. 38,228 74,840 Amcor, Ltd. 35,397 362,620 AMP, Ltd. 166,216 744,804 # Ansell, Ltd. 14,630 269,650 * Antares Energy, Ltd. 43,975 20,109 AP Eagers, Ltd. 23,424 104,182 APA Group 31,461 180,258 #* APN News & Media, Ltd. 98,160 43,102 #* Aquarius Platinum, Ltd. 33,735 22,079 #* Aquila Resources, Ltd. 28,745 61,320 # ARB Corp., Ltd. 1,871 20,599 Aristocrat Leisure, Ltd. 45,027 215,001 Arrium, Ltd. 559,000 730,372 Asciano, Ltd. 270,029 1,482,956 * ASG Group, Ltd. 29,214 11,204 ASX, Ltd. 8,599 298,692 Atlas Iron, Ltd. 259,623 253,014 * Aurora Oil & Gas, Ltd. 55,916 171,700 # Ausdrill, Ltd. 89,820 129,782 # Ausenco, Ltd. 30,823 47,931 #* Austal, Ltd. 31,664 22,579 Austbrokers Holdings, Ltd. 8,522 99,094 Austin Engineering, Ltd. 3,342 12,484 Australia & New Zealand Banking Group, Ltd. 58,440 1,870,101 #* Australian Agricultural Co., Ltd. 132,520 140,952 Australian Infrastructure Fund 27,847 184 Australian Pharmaceutical Industries, Ltd. 53,097 32,384 # Automotive Holdings Group, Ltd. 53,543 183,803 * AWE, Ltd. 237,537 280,254 # Bank of Queensland, Ltd. 101,286 1,155,413 BC Iron, Ltd. 28,373 132,030 Beach Energy, Ltd. 568,171 767,427 Bendigo and Adelaide Bank, Ltd. 137,353 1,414,020 BHP Billiton, Ltd. 12,973 458,639 BHP Billiton, Ltd. Sponsored ADR 10,469 740,054 #* Billabong International, Ltd. 79,866 29,720 # Blackmores, Ltd. 1,533 32,845 * BlueScope Steel, Ltd. 136,925 645,861 # Boart Longyear, Ltd. 161,114 65,300 # Boral, Ltd. 276,737 1,291,284 # Bradken, Ltd. 97,128 573,003 Brambles, Ltd. 28,430 249,579 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- AUSTRALIA -- (Continued) Breville Group, Ltd. 14,865 $ 113,059 Brickworks, Ltd. 13,908 187,817 BT Investment Management, Ltd. 21,835 103,136 # Cabcharge Australia, Ltd. 56,351 214,929 # Caltex Australia, Ltd. 20,543 358,950 # Cardno, Ltd. 45,048 301,504 * Carnarvon Petroleum, Ltd. 105,419 7,367 carsales.com, Ltd. 7,604 75,510 Cash Converters International, Ltd. 113,888 102,363 # Cedar Woods Properties, Ltd. 6,427 42,082 * Centrebet International, Ltd. Claim Units 6,648 -- * Ceramic Fuel Cells, Ltd. 97,611 3,326 Challenger, Ltd. 61,701 350,033 * Citigold Corp., Ltd. 194,096 8,918 Clough, Ltd. 36,846 50,575 * Coal of Africa, Ltd. 24,372 3,156 Coca-Cola Amatil, Ltd. 11,096 135,218 # Cochlear, Ltd. 1,768 98,233 #* Cockatoo Coal, Ltd.(B0PB4N8) 148,893 8,072 Cockatoo Coal, Ltd.() 194,474 10,477 * Coffey International, Ltd. 53,206 12,303 Commonwealth Bank of Australia 16,067 1,156,864 Computershare, Ltd. 6,815 69,161 * Cooper Energy, Ltd. 3,853 1,565 Crowe Horwath Australasia, Ltd. 29,289 17,336 Crown, Ltd. 17,087 272,406 # CSG, Ltd. 35,839 33,085 CSR, Ltd. 204,380 482,527 #* Cudeco, Ltd. 10,487 19,842 * Cue Energy Resources, Ltd. 31,448 3,865 * Dart Energy, Ltd. 3,633 480 # David Jones, Ltd. 179,530 461,398 # Decmil Group, Ltd. 44,845 107,197 * Deep Yellow, Ltd. 217,870 4,092 * Devine, Ltd. 2,971 2,814 #* Discovery Metals, Ltd. 11,417 723 # Domino's Pizza Enterprises, Ltd. 7,108 104,847 Downer EDI, Ltd. 179,523 834,063 #* Drillsearch Energy, Ltd. 58,137 71,197 DUET Group 48,961 99,386 DuluxGroup, Ltd. 32,446 158,003 Echo Entertainment Group, Ltd. 437,339 1,097,644 #* Elders, Ltd. 130,080 14,107 Emeco Holdings, Ltd. 218,506 71,095 * Energy Resources of Australia, Ltd. 65,369 79,115 * Energy World Corp., Ltd. 238,480 98,023 Envestra, Ltd. 82,141 87,289 Euroz, Ltd. 1,190 1,319 # Evolution Mining, Ltd. 113,903 90,011 # Fairfax Media, Ltd. 927,563 529,613 * FAR, Ltd. 557,529 20,534 Finbar Group, Ltd. 18,455 27,399 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- AUSTRALIA -- (Continued) FKP Property Group(BG49KV5) 15,706 $ 27,759 FKP Property Group(6349699) 28,270 49,621 # Fleetwood Corp., Ltd. 10,971 34,976 FlexiGroup, Ltd. 55,831 248,461 Flight Centre, Ltd. 3,479 170,796 * Focus Minerals, Ltd. 1,266,046 15,506 Forge Group, Ltd. 32,407 134,819 Fortescue Metals Group, Ltd. 36,960 181,266 Funtastic, Ltd. 27,420 4,281 Goodman Fielder, Ltd. 762,944 548,344 GrainCorp, Ltd. Class A 35,906 418,636 # Grange Resources, Ltd. 122,656 24,919 #* Gryphon Minerals, Ltd. 9,576 1,384 # GUD Holdings, Ltd. 31,454 176,252 #* Gunns, Ltd. 75,334 -- # GWA Group, Ltd. 90,077 263,899 # Harvey Norman Holdings, Ltd. 176,908 544,376 HFA Holdings, Ltd. 18,498 13,010 * Highlands Pacific, Ltd. 3,557 205 * Hillgrove Resources, Ltd. 159,287 13,517 Hills Holdings, Ltd. 45,983 79,448 #* Horizon Oil, Ltd. 329,531 102,638 iiNET, Ltd. 39,024 240,062 Iluka Resources, Ltd. 15,930 154,624 Imdex, Ltd. 49,768 33,852 IMF Australia, Ltd. 9,076 15,766 Incitec Pivot, Ltd. 574,779 1,446,101 # Independence Group NL 118,603 442,020 #* Infigen Energy, Ltd. 164,162 40,372 Insurance Australia Group, Ltd. 70,199 409,956 # Invocare, Ltd. 3,399 35,204 IOOF Holdings, Ltd. 43,255 367,841 Iress, Ltd. 14,019 130,830 James Hardie Industries P.L.C. 17,228 178,194 James Hardie Industries P.L.C. Sponsored ADR 100 5,208 # JB Hi-Fi, Ltd. 14,153 291,663 Jetset Travelworld, Ltd. 13,926 5,286 * Kagara, Ltd. 52,508 5,955 # Kingsgate Consolidated, Ltd. 33,858 45,505 # Leighton Holdings, Ltd. 8,095 137,136 Lend Lease Group 182,266 1,965,533 #* Linc Energy, Ltd. 101,583 137,689 M2 Telecommunications Group, Ltd. 7,407 44,378 MACA, Ltd. 1,247 2,961 * Macmahon Holdings, Ltd. 239,512 33,986 Macquarie Atlas Roads Group 27,728 69,418 Macquarie Group, Ltd. 37,045 1,781,849 #* Matrix Composites & Engineering, Ltd. 4,880 3,132 # MaxiTRANS Industries, Ltd. 31,085 32,310 #* Mayne Pharma Group, Ltd. 78,756 52,899 # McMillan Shakespeare, Ltd. 3,935 48,050 McPherson's, Ltd. 18,083 23,047 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- AUSTRALIA -- (Continued) * Medusa Mining, Ltd. 17,550 $ 31,094 Melbourne IT, Ltd. 24,889 37,931 * MEO Australia, Ltd. 3,261 210 Mermaid Marine Australia, Ltd. 51,128 181,131 * Metals X, Ltd. 38,119 5,746 # Metcash, Ltd. 135,058 427,407 # Miclyn Express Offshore, Ltd. 23,848 47,289 Mincor Resources NL 50,636 26,999 * Mineral Deposits, Ltd. 22,816 67,382 # Mineral Resources, Ltd. 49,020 524,114 # Monadelphous Group, Ltd. 10,844 186,067 Mortgage Choice, Ltd. 37,287 105,101 Mount Gibson Iron, Ltd. 292,783 245,578 # Myer Holdings, Ltd. 237,748 561,890 National Australia Bank, Ltd. 62,086 2,074,966 Navitas, Ltd. 18,566 101,704 #* Neon Energy, Ltd. 182,076 49,862 # New Hope Corp., Ltd. 15,453 55,146 Newcrest Mining, Ltd. 83,034 805,154 #* Newsat, Ltd. 12,357 5,609 #* Nexus Energy, Ltd. 247,654 18,247 # NIB Holdings, Ltd. 54,719 124,184 # Northern Star Resources, Ltd. 87,482 72,613 # NRW Holdings, Ltd. 95,194 125,695 # Nufarm, Ltd. 87,859 405,167 Oakton, Ltd. 52,096 86,911 Oil Search, Ltd. 26,128 210,058 Orica, Ltd. 17,610 350,584 Origin Energy, Ltd. 193,618 2,676,665 # OrotonGroup, Ltd. 846 4,294 * Otto Energy, Ltd. 72,021 7,473 OZ Minerals, Ltd. 117,520 400,572 Pacific Brands, Ltd. 392,183 261,215 #* Paladin Energy, Ltd. 256,235 101,223 PanAust, Ltd. 233,335 442,814 Panoramic Resources, Ltd. 63,646 19,579 Patties Foods, Ltd. 17,109 22,464 * Peet, Ltd. 39,333 52,046 * Perilya, Ltd. 102,614 32,990 # Perpetual, Ltd. 4,417 192,301 #* Pharmaxis, Ltd. 16,670 1,970 * Phosphagenics, Ltd. 15,812 2,017 Platinum Asset Management, Ltd. 12,467 72,690 * Platinum Australia, Ltd. 59,641 1,643 * PMP, Ltd. 31,929 12,177 Premier Investments, Ltd. 47,499 357,960 #* Prima Biomed, Ltd. 75,579 2,707 Primary Health Care, Ltd. 164,174 765,941 Prime Media Group, Ltd. 14,791 14,107 PrimeAg Australia, Ltd. 22,147 9,256 Programmed Maintenance Services, Ltd. 36,556 95,267 #* Qantas Airways, Ltd. 387,643 455,738 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- AUSTRALIA -- (Continued) QBE Insurance Group, Ltd. 51,777 $ 725,100 #* Ramelius Resources, Ltd. 55,377 7,000 Ramsay Health Care, Ltd. 2,541 93,280 RCR Tomlinson, Ltd. 45,688 153,127 REA Group, Ltd. 2,598 101,966 Reckon, Ltd. 3,353 7,272 * Red Fork Energy, Ltd. 57,145 25,848 Redflex Holdings, Ltd. 15,216 17,509 Reece Australia, Ltd. 839 22,190 # Regional Express Holdings, Ltd. 3,539 3,450 Regis Resources, Ltd. 45,208 147,303 # Reject Shop, Ltd. (The) 5,498 92,768 Resolute Mining, Ltd. 367,866 222,692 # Retail Food Group, Ltd.(B15SCH6) 24,054 99,158 Retail Food Group, Ltd.() 2,371 9,771 Ridley Corp., Ltd. 80,953 65,334 Rio Tinto, Ltd. 11,548 694,868 * Roc Oil Co., Ltd. 324,074 148,242 Ruralco Holdings, Ltd. 5,076 15,380 # SAI Global, Ltd. 58,423 227,041 Salmat, Ltd. 16,043 32,310 #* Samson Oil & Gas, Ltd. Sponsored ADR 10,577 5,176 * Sandfire Resources NL 1,103 6,777 Santos, Ltd. 170,274 2,436,964 * Saracen Mineral Holdings, Ltd. 168,889 37,257 Sedgman, Ltd. 31,588 25,700 # Seek, Ltd. 9,124 112,091 Select Harvests, Ltd. 6,693 26,610 * Senex Energy, Ltd. 281,508 220,649 Servcorp, Ltd. 6,641 25,195 Service Stream, Ltd. 6,776 1,469 # Seven Group Holdings, Ltd. 54,038 425,641 Seven West Media, Ltd. 261,604 623,299 Sigma Pharmaceuticals, Ltd. 458,195 246,985 * Silex Systems, Ltd. 12,982 29,431 #* Silver Lake Resources, Ltd. 31,055 22,381 #* Sims Metal Management, Ltd. 90,029 852,777 # Sirtex Medical, Ltd. 2,967 34,814 Skilled Group, Ltd. 61,979 207,120 Slater & Gordon, Ltd. 19,395 70,972 # SMS Management & Technology, Ltd. 15,517 67,537 Sonic Healthcare, Ltd. 29,778 454,568 Southern Cross Media Group, Ltd. 189,431 338,042 SP AusNet 75,503 89,194 Spark Infrastructure Group 128,152 205,258 Specialty Fashion Group, Ltd. 16,869 14,183 #* St Barbara, Ltd. 148,747 66,811 #* Starpharma Holdings, Ltd. 7,460 6,265 * Straits Resources, Ltd. 66,500 562 * Strike Energy, Ltd. 47,572 4,270 STW Communications Group, Ltd. 121,469 182,718 Suncorp Group, Ltd. 139,503 1,759,049 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- AUSTRALIA -- (Continued) * Sundance Energy Australia, Ltd. 30,669 $ 32,806 Sunland Group, Ltd. 26,250 39,721 Super Retail Group, Ltd. 15,790 200,012 Tabcorp Holdings, Ltd. 270,731 920,830 #* Tanami Gold NL 39,447 1,905 * Tap Oil, Ltd. 84,108 43,282 Tassal Group, Ltd. 25,511 74,988 Tatts Group, Ltd. 478,673 1,421,315 Technology One, Ltd. 25,124 48,164 #* Ten Network Holdings, Ltd. 739,556 196,024 TFS Corp., Ltd. 42,008 29,820 Thorn Group, Ltd. 3,330 8,063 #* Tiger Resources, Ltd. 183,024 68,329 Toll Holdings, Ltd. 240,423 1,309,779 Tox Free Solutions, Ltd. 41,221 128,538 TPG Telecom, Ltd. 31,955 140,877 Transfield Services, Ltd. 152,795 192,715 * Transpacific Industries Group, Ltd. 409,523 443,233 Treasury Wine Estates, Ltd. 216,973 963,585 #* Troy Resources, Ltd. 17,626 22,216 Trust Co., Ltd. (The) 5,908 46,600 # UGL, Ltd. 69,891 486,055 * Unity Mining, Ltd. 19,146 1,101 UXC, Ltd. 121,625 109,663 Village Roadshow, Ltd. 26,871 178,502 #* Virgin Australia Holdings, Ltd. 339,822 133,418 * Virgin Australia Holdings, Ltd. (B7L5734) 272,729 -- Warrnambool Cheese & Butter Factory Co. Holding, Ltd. 3,710 29,080 Washington H Soul Pattinson & Co., Ltd. 11,782 167,802 * Watpac, Ltd. 27,998 26,106 WDS, Ltd. 1,417 1,125 # Webjet, Ltd. 10,348 30,802 Wesfarmers, Ltd. 44,255 1,795,821 Western Areas, Ltd. 58,991 155,662 * Western Desert Resources, Ltd. 45,134 30,910 Westpac Banking Corp. 49,145 1,595,598 Westpac Banking Corp. Sponsored ADR 12,390 404,534 #* Whitehaven Coal, Ltd. 116,793 178,902 # Wide Bay Australia, Ltd. 3,475 19,251 Woodside Petroleum, Ltd. 28,418 1,041,801 WorleyParsons, Ltd. 6,948 144,685 # Wotif.com Holdings, Ltd. 16,657 69,885 ----------- TOTAL AUSTRALIA 74,169,754 ----------- AUSTRIA -- (0.5%) * A-TEC Industries AG 1,773 -- Agrana Beteiligungs AG 505 61,574 Andritz AG 2,863 176,309 Atrium European Real Estate, Ltd. 5,591 33,391 Austria Technologie & Systemtechnik AG 3,938 37,538 CA Immobilien Anlagen AG 920 13,991 Erste Group Bank AG 27,924 980,406 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ ---------- AUSTRIA -- (Continued) # EVN AG 3,508 $ 53,459 Flughafen Wien AG 2,930 226,033 IMMOFINANZ AG 47,292 207,119 # Kapsch TrafficCom AG 698 37,676 Lenzing AG 716 53,413 Mayr Melnhof Karton AG 1,419 158,244 Oberbank AG 693 45,176 # Oesterreichische Post AG 5,353 251,017 OMV AG 13,223 630,772 Palfinger AG 1,797 66,320 # Raiffeisen Bank International AG 12,696 465,689 RHI AG 4,303 158,784 Rosenbauer International AG 230 18,586 S IMMO AG 6,478 43,526 Schoeller-Bleckmann Oilfield Equipment AG 1,539 177,553 Semperit AG Holding 1,681 82,319 Strabag SE 5,543 145,698 Telekom Austria AG 19,646 161,506 # UNIQA Insurance Group AG 2,263 27,666 Verbund AG 3,850 90,314 Vienna Insurance Group AG Wiener Versicherung Gruppe 3,618 191,403 Voestalpine AG 8,480 400,048 Wienerberger AG 53,576 929,327 * Wolford AG 299 7,972 Zumtobel AG 6,907 123,257 ---------- TOTAL AUSTRIA 6,056,086 ---------- BELGIUM -- (1.3%) * Ablynx NV 1,092 10,716 Ackermans & van Haaren NV 10,812 1,170,968 Ageas 45,850 1,948,353 * AGFA-Gevaert NV 75,049 178,226 Anheuser-Busch InBev NV 4,715 488,774 Anheuser-Busch InBev NV Sponsored ADR 3,863 400,709 Arseus NV 11,223 346,606 Atenor Group 168 7,653 Banque Nationale de Belgique 67 262,702 Barco NV 5,707 431,983 Belgacom SA 21,607 591,201 Cie d'Entreprises CFE 3,168 250,335 Cie Immobiliere de Belgique SA 301 14,703 Cie Maritime Belge SA 4,562 121,429 Colruyt SA 600 33,472 D'ieteren SA 8,597 405,123 * Deceuninck NV 21,543 51,148 # Delhaize Group SA 24,963 1,594,248 Delhaize Group SA Sponsored ADR 7,423 474,627 # Econocom Group 14,131 137,301 # Elia System Operator SA 3,018 138,012 * Euronav NV 11,102 78,213 EVS Broadcast Equipment SA 1,968 128,750 Exmar NV 12,278 177,153 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ ----------- BELGIUM -- (Continued) #* Galapagos NV 3,780 $ 73,061 * Ion Beam Applications 5,092 42,018 KBC Groep NV 37,239 2,028,835 Kinepolis Group NV 1,125 164,143 Lotus Bakeries 28 26,013 Melexis NV 2,604 84,671 Mobistar SA 1,523 26,400 # NV Bekaert SA 19,497 816,394 # Nyrstar 61,549 252,538 * Picanol 305 10,080 Recticel SA 3,670 24,638 Resilux 516 58,334 * RHJ International 936 4,895 * Roularta Media Group NV 199 3,194 Sioen Industries NV 3,689 43,699 Sipef SA 1,388 105,353 # Solvay SA 6,918 1,081,719 Telenet Group Holding NV 2,095 114,828 # Tessenderlo Chemie NV 7,222 180,778 #* ThromboGenics NV 3,604 99,236 UCB SA 4,943 324,468 # Umicore SA 14,872 708,189 Van de Velde NV 2,184 111,008 ----------- TOTAL BELGIUM 15,826,897 ----------- CANADA -- (7.9%) #* 5N Plus, Inc. 17,615 46,122 Aastra Technologies, Ltd. 2,300 62,560 Absolute Software Corp. 4,480 31,710 Acadian Timber Corp. 1,693 21,109 * Advantage Oil & Gas, Ltd. 74,652 303,577 Aecon Group, Inc. 30,473 422,323 # AG Growth International, Inc. 2,860 104,234 AGF Management, Ltd. Class B 32,923 434,805 Agnico Eagle Mines, Ltd.(008474108) 7,796 230,216 Agnico Eagle Mines, Ltd.(2009823) 5,612 166,640 Agrium, Inc. 5,000 426,797 Aimia, Inc. 36,290 641,466 * Ainsworth Lumber Co., Ltd. 24,449 92,389 Akita Drilling, Ltd. Class A 900 13,250 Alacer Gold Corp. 74,187 205,630 # Alamos Gold, Inc.(2411707) 3,200 50,978 * Alamos Gold, Inc.(011527108) 6,279 100,276 # Alaris Royalty Corp. 1,860 63,472 #* Alexco Resource Corp. 12,984 18,057 Algoma Central Corp. 1,740 25,316 # Algonquin Power & Utilities Corp. 56,401 364,052 Alimentation Couche Tard, Inc. Class B 3,500 237,059 Alliance Grain Traders, Inc. 8,412 129,893 # AltaGas, Ltd. 8,600 318,381 * Alterra Power Corp. 14,500 4,103 Altus Group, Ltd. 6,100 81,907 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- CANADA -- (Continued) Amerigo Resources, Ltd. 23,684 $ 9,086 Amica Mature Lifestyles, Inc. 1,700 14,283 * Anderson Energy, Ltd. 22,450 3,122 #* Angle Energy, Inc. 36,806 132,377 * Antrim Energy, Inc. 19,200 1,749 # ARC Resources, Ltd. 10,417 276,548 #* Argonaut Gold Inc. 65,566 364,727 Arsenal Energy, Inc. 1,950 9,351 * Artek Exploration, Ltd. 14,249 49,198 Atco, Ltd. Class I 2,500 116,026 * Atna Resources, Ltd. 21,888 3,044 * Atrium Innovations, Inc. 7,737 140,916 * ATS Automation Tooling Systems, Inc. 23,924 330,872 * Aura Minerals, Inc. 19,400 2,233 # AuRico Gold, Inc. 100,074 415,595 AutoCanada, Inc. 1,200 44,195 * Axia NetMedia Corp. 6,400 14,179 * B2Gold Corp. 323,700 800,984 Badger Daylighting, Ltd. 2,000 141,984 #* Ballard Power Systems, Inc. 16,800 22,719 # Bank of Montreal 15,794 1,100,043 Bank of Nova Scotia(064149107) 9,296 564,918 Bank of Nova Scotia(2076281) 6,849 416,399 * Bankers Petroleum, Ltd. 128,781 494,053 Barrick Gold Corp.(067901108) 19,120 370,737 Barrick Gold Corp.(2024644) 9,774 190,109 * Bauer Performance Sports, Ltd. 4,000 49,221 Baytex Energy Corp.(07317Q105) 1,098 45,907 # Baytex Energy Corp.(B4VGVM3) 900 37,566 Bell Aliant, Inc. 3,427 86,805 * Bellatrix Exploration, Ltd. 35,062 262,633 * Birchcliff Energy, Ltd. 45,947 328,303 # Bird Construction, Inc. 4,259 53,470 # Black Diamond Group, Ltd. 4,900 128,345 #* BlackBerry, Ltd. 71,549 564,761 #* BlackPearl Resources, Inc. 87,716 163,208 * BNK Petroleum, Inc. 29,842 46,367 Bombardier, Inc. Class B 28,460 129,382 Bonavista Energy Corp. 49,407 570,053 # Bonterra Energy Corp. 2,297 129,098 * Boralex, Inc. Class A 7,500 75,457 #* Brigus Gold Corp. 47,233 35,335 * Brookfield Residential Properties, Inc. 4,535 100,133 * Burcon NutraScience Corp. 300 711 CAE, Inc. 16,827 192,857 Calfrac Well Services, Ltd. 11,666 363,636 Calian Technologies, Ltd. 1,000 20,995 * Calvalley Petroleums, Inc. Class A 9,805 14,482 Cameco Corp. 30,249 574,141 Canaccord Financial, Inc. 33,473 212,524 * Canacol Energy, Ltd. 25,915 119,054 Canada Bread Co., Ltd. 1,900 126,995 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- CANADA -- (Continued) #* Canada Lithium Corp. 119,352 $ 45,216 # Canadian Energy Services & Technology Corp. 5,588 100,596 # Canadian Imperial Bank of Commerce 4,351 370,147 Canadian Natural Resources, Ltd.(136385101) 30,000 952,500 Canadian Natural Resources, Ltd.(2171573) 17,000 539,519 # Canadian Oil Sands, Ltd. 14,860 289,604 # Canadian Tire Corp., Ltd. Class A 12,116 1,124,621 # Canadian Western Bank 23,100 740,866 * Canam Group, Inc. Class A 14,000 151,729 CanElson Drilling, Inc. 11,245 67,622 Canexus Corp. 6,800 47,349 * Canfor Corp. 24,916 516,410 # Canfor Pulp Products, Inc. 12,418 128,867 CanWel Building Materials Group, Ltd. 11,100 30,767 # Canyon Services Group, Inc. 13,638 149,506 # Capital Power Corp. 7,426 153,840 Capstone Infrastructure Corp. 42,347 159,616 * Capstone Mining Corp. 136,689 363,141 * Cardero Resource Corp. 16,600 2,070 Cascades, Inc. 29,624 165,927 #* Cash Store Financial Services, Inc. (The) 400 625 * Catamaran Corp. 4,000 187,676 Cathedral Energy Services, Ltd. 9,963 58,957 CCL Industries, Inc. Class B 7,234 496,767 * Celestica, Inc.(15101Q108) 3,032 33,231 * Celestica, Inc.(2263362) 70,411 773,228 # Cenovus Energy, Inc. 6,900 205,018 Centerra Gold, Inc. 28,765 115,043 #* Cequence Energy, Ltd. 54,192 98,753 #* CGI Group, Inc. Class A 7,471 250,646 * China Gold International Resources Corp., Ltd. 65,111 174,853 * Chinook Energy, Inc. 10,022 8,362 Churchill Corp. Class A 5,050 47,950 # CI Financial Corp. 2,000 66,523 # Cineplex, Inc. 8,257 332,608 Clairvest Group, Inc. 100 2,195 * Claude Resources, Inc. 31,500 5,740 Cogeco Cable, Inc. 5,406 255,614 # Colabor Group, Inc. 7,067 31,450 * COM DEV International, Ltd. 25,113 101,160 Computer Modelling Group, Ltd. 2,632 67,602 * Connacher Oil and Gas, Ltd. 99,121 18,538 Constellation Software, Inc. 300 54,651 # Contrans Group, Inc. Class A 3,331 42,873 #* Copper Mountain Mining Corp. 27,218 44,900 Corby Distilleries, Ltd. Class A 2,450 48,053 * Corridor Resources, Inc. 12,900 9,527 # Corus Entertainment, Inc. Class B 26,100 608,287 Cott Corp.(22163N106) 4,928 40,410 Cott Corp.(2228952) 36,660 300,270 # Crescent Point Energy Corp. 8,000 310,670 * Crew Energy, Inc. 66,491 386,453 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- CANADA -- (Continued) * Crocotta Energy, Inc. 25,080 $ 73,124 # Davis + Henderson Corp. 16,978 437,212 * DeeThree Exploration, Ltd. 19,816 172,949 * Delphi Energy Corp. 56,755 88,182 #* Denison Mines Corp. 118,547 130,752 * Descartes Systems Group, Inc. (The) 9,080 111,209 DHX Media, Ltd. 11,800 45,496 DirectCash Payments, Inc. 1,200 21,211 Dollarama, Inc. 1,233 105,981 * Dominion Diamond Corp.(B95LX89) 18,256 246,530 * Dominion Diamond Corp.(257287102) 15,209 204,713 Dorel Industries, Inc. Class B 13,011 483,428 #* DragonWave, Inc. 6,969 10,026 * Duluth Metals, Ltd. 14,300 12,755 * Dundee Precious Metals, Inc. 29,945 127,804 * Dynasty Metals & Mining, Inc. 1,882 1,282 E-L Financial Corp., Ltd. 111 73,799 #* Eastern Platinum, Ltd. 193,797 11,152 Eldorado Gold Corp. 97,497 657,367 Emera, Inc. 2,100 61,913 Empire Co., Ltd. 6,100 449,200 # Enbridge Income Fund Holdings, Inc. 4,401 98,560 # Encana Corp. 13,705 245,537 * Endeavour Silver Corp. 21,499 89,283 Enerflex, Ltd. 2,500 35,415 * Energy Fuels, Inc. 70,273 9,436 Enerplus Corp.(292766102) 35,912 620,200 # Enerplus Corp.(B584T89) 20,415 352,243 Enghouse Systems, Ltd. 1,800 47,907 Ensign Energy Services, Inc. 35,526 607,177 #* Epsilon Energy, Ltd. 10,950 33,397 Equal Energy, Ltd. 9,801 46,530 Equitable Group, Inc. 2,250 105,524 * Essential Energy Services Trust 59,621 168,687 Evertz Technologies, Ltd. 2,800 44,847 * Excellon Resources, Inc. 5,300 7,015 # Exchange Income Corp. 1,600 30,676 Exco Technologies, Ltd. 5,657 39,607 #* EXFO, Inc. 7,513 42,369 # Extendicare Inc. 12,581 80,724 Fairfax Financial Holdings, Ltd. 3,937 1,718,060 Finning International, Inc. 7,200 166,008 First Capital Realty, Inc. 6,035 104,881 * First Majestic Silver Corp.(32076V103) 8,989 101,666 * First Majestic Silver Corp.(2833583) 12,400 140,335 First National Financial Corp. 600 12,539 First Quantum Minerals, Ltd. 90,327 1,713,584 FirstService Corp. 3,300 137,172 #* Fortress Paper, Ltd. Class A 2,299 12,723 * Fortuna Silver Mines, Inc. 55,988 221,772 * Fortune Minerals, Ltd. 800 261 Franco-Nevada Corp. 4,300 193,462 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- CANADA -- (Continued) Gamehost, Inc. 1,632 $ 22,477 #* Gasfrac Energy Services, Inc. 5,600 7,627 * Genesis Land Development Corp. 8,400 28,922 Genivar, Inc. 13,243 379,006 Genworth MI Canada, Inc. 16,659 524,224 George Weston, Ltd. 3,972 323,581 # Gibson Energy, Inc. 8,700 213,693 Gildan Activewear, Inc. 6,523 314,435 Glacier Media, Inc. 3,000 4,057 Glentel, Inc. 400 5,463 Gluskin Sheff + Associates, Inc. 3,300 63,617 * GLV, Inc. Class A 8,028 31,183 GMP Capital, Inc. 20,353 121,222 Goldcorp, Inc.(380956409) 23,766 604,369 Goldcorp, Inc.(2676302) 14,911 379,836 #* Golden Star Resources, Ltd. 73,980 36,896 * Gran Tierra Energy, Inc.(38500T101) 1,100 8,349 * Gran Tierra Energy, Inc.(B2PPCS5) 118,555 893,725 * Great Canadian Gaming Corp. 14,900 183,204 # Great-West Lifeco, Inc. 6,100 188,678 Guardian Capital Group, Ltd. Class A 1,244 17,897 #* Guyana Goldfields, Inc. 19,372 45,334 Heroux-Devtek, Inc. 5,375 48,200 High Liner Foods, Inc. 1,100 43,255 # HNZ Group, Inc. 2,200 47,792 # Home Capital Group, Inc. 2,500 198,413 Horizon North Logistics, Inc. 19,860 161,905 HudBay Minerals, Inc.(443628102) 3,790 31,381 # HudBay Minerals, Inc.(B05BDX1) 70,509 574,811 # Husky Energy, Inc. 12,905 366,858 IAMGOLD Corp.(450913108) 23,010 117,351 IAMGOLD Corp.(2446646) 92,133 470,982 # IBI Group, Inc. 1,759 3,155 # IGM Financial, Inc. 1,700 81,914 #* Imax Corp. 5,400 157,082 * Imperial Metals Corp. 5,424 68,616 Imperial Oil, Ltd. 776 33,886 * Imris, Inc. 4,300 6,516 Indigo Books & Music, Inc. 1,600 17,264 Industrial Alliance Insurance & Financial Services, Inc. 21,198 950,672 Innergex Renewable Energy, Inc. 23,213 203,488 Intact Financial Corp. 5,604 349,521 * International Forest Products, Ltd. Class A 23,785 269,410 International Minerals Corp. 4,255 11,549 Intertape Polymer Group, Inc. 14,069 202,403 * Ithaca Energy, Inc. 98,325 230,099 #* Ivanhoe Energy, Inc. 19,212 13,083 #* Jaguar Mining, Inc. 16,500 3,007 # Jean Coutu Group PJC, Inc. (The) Class A 4,300 76,007 Just Energy Group, Inc.(48213W101) 2,300 16,353 # Just Energy Group, Inc.(B63MCN1) 12,408 88,063 K-Bro Linen, Inc. 900 30,211 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- CANADA -- (Continued) * Katanga Mining, Ltd. 83,398 $ 43,993 * Kelt Exploration, Ltd. 3,000 24,745 # Keyera Corp. 2,300 136,105 # Killam Properties, Inc. 9,800 103,484 Kinross Gold Corp.(496902404) 4,318 21,892 # Kinross Gold Corp.(B03Z841) 102,404 520,540 #* Kirkland Lake Gold, Inc. 9,588 33,473 #* Lake Shore Gold Corp. 44,198 16,744 Laurentian Bank of Canada 14,044 627,006 * Le Chateau, Inc. Class A 500 2,100 * Legacy Oil + Gas, Inc. 106,829 723,361 # Leisureworld Senior Care Corp. 12,345 125,978 Leon's Furniture, Ltd. 5,538 70,271 # Lightstream Resources, Ltd. 83,605 537,238 Linamar Corp. 16,431 552,506 # Liquor Stores N.A., Ltd. 11,917 171,786 # Loblaw Cos., Ltd. 9,861 451,034 * Long Run Exploration, Ltd. 41,239 229,400 * Lucara Diamond Corp. 10,800 13,259 #* Lundin Mining Corp. 105,973 477,699 MacDonald Dettwiler & Associates, Ltd. 2,340 178,533 Magna International, Inc. 20,960 1,775,263 Major Drilling Group International 37,744 297,565 Manitoba Telecom Services, Inc. 4,500 127,190 Manulife Financial Corp.(56501R106) 44,465 787,030 Manulife Financial Corp.(2492519) 40,805 722,839 # Maple Leaf Foods, Inc. 25,254 371,792 Martinrea International, Inc. 22,401 237,406 * Maxim Power Corp. 2,200 8,145 #* MBAC Fertilizer Corp. 4,200 8,137 Medical Facilities Corp. 3,300 52,792 * MEG Energy Corp. 20,622 660,007 * MEGA Brands, Inc. 2,600 39,150 * Mega Uranium, Ltd. 22,900 1,208 Melcor Developments, Ltd. 2,078 39,043 * Mercator Minerals, Ltd. 30,547 2,197 # Methanex Corp. 11,900 690,158 Metro, Inc. 3,200 200,198 # Migao Corp. 6,589 6,446 #* Mood Media Corp. 19,033 12,048 # Morneau Shepell, Inc. 12,796 175,498 # Mullen Group, Ltd. 14,580 390,702 National Bank of Canada 5,100 442,572 Nevsun Resources, Ltd. 87,496 318,884 # New Flyer Industries, Inc. 11,266 116,804 #* New Gold, Inc. 101,000 592,836 Newalta Corp. 22,037 343,453 #* Niko Resources, Ltd. 27,147 87,222 Norbord, Inc. 4,350 123,493 * Nordion, Inc. 12,800 105,945 * North American Energy Partners, Inc. 5,546 33,324 #* North American Palladium, Ltd. 37,050 33,758 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- CANADA -- (Continued) North West Co., Inc. (The) 5,625 $139,890 # Northland Power, Inc. 12,534 198,592 #* Novagold Resources, Inc. 23,429 50,559 * NuVista Energy, Ltd. 48,427 308,866 #* OceanaGold Corp. 83,300 139,013 Onex Corp. 6,200 327,586 Open Text Corp. 3,100 227,806 * Orvana Minerals Corp. 13,000 5,174 #* Osisko Mining Corp. 190,528 930,118 Pacific Rubiales Energy Corp. 6,257 129,443 * Paladin Labs, Inc. 1,963 120,022 Pan American Silver Corp.(697900108) 41,821 443,721 Pan American Silver Corp.(2669272) 24,437 259,684 * Paramount Resources, Ltd. Class A 3,054 105,827 * Parex Resources, Inc. 39,295 227,256 # Parkland Fuel Corp. 8,806 161,399 # Pason Systems, Inc. 4,680 97,267 * Patheon, Inc. 1,395 7,573 * Pembina Pipeline Corp.(B4PPQG5) 3,496 114,669 # Pembina Pipeline Corp.(B4PT2P8) 5,993 196,618 # Pengrowth Energy Corp. 141,153 907,040 Penn West Petroleum, Ltd.(707887105) 60,540 677,443 # Penn West Petroleum, Ltd.(B63FY34) 51,031 569,703 #* Perpetual Energy, Inc. 17,275 18,225 * Petrobank Energy & Resources, Ltd. 26,705 9,477 # Petrominerales, Ltd. 34,034 391,375 # Peyto Exploration & Development Corp. 3,335 100,500 * Phoscan Chemical Corp. 21,000 5,841 # PHX Energy Services Corp. 3,272 38,599 #* Poseidon Concepts Corp. 6,541 19 Potash Corp. of Saskatchewan, Inc. 9,595 298,404 Precision Drilling Corp. 83,917 887,742 Premium Brands Holdings Corp. 4,923 94,149 * Primero Mining Corp.(74164W106) 6,304 36,059 * Primero Mining Corp.(B4Z8FV2) 31,864 181,530 Progressive Waste Solutions, Ltd. 16,623 446,564 Pulse Seismic, Inc. 14,104 50,727 * Pure Technologies, Ltd. 5,100 28,370 QLT, Inc. 3,731 16,139 # Quebecor, Inc. Class B 16,000 395,607 #* Questerre Energy Corp. Class A 16,560 21,759 * Ram Power Corp. 21,879 2,938 Reitmans Canada, Ltd. 700 4,565 Reitmans Canada, Ltd. Class A 20,260 133,104 Richelieu Hardware, Ltd. 2,000 88,218 * Richmont Mines, Inc. 10,500 13,696 # Ritchie Bros Auctioneers, Inc.(2345390) 3,200 63,254 Ritchie Bros Auctioneers, Inc.(767744105) 7,503 148,559 * RMP Energy, Inc. 33,092 198,047 * Rock Energy, Inc. 5,688 17,021 Rocky Mountain Dealerships, Inc. 5,500 62,773 # Rogers Sugar, Inc. 22,850 119,438 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- CANADA -- (Continued) # RONA, Inc. 51,502 $ 603,610 Royal Bank of Canada(780087102) 1,201 80,683 # Royal Bank of Canada(2754383) 14,000 940,181 # Russel Metals, Inc. 22,462 620,444 * San Gold Corp. 1,146 159 #* Sandstorm Gold, Ltd. 3,321 17,901 * Sandvine Corp. 26,856 68,257 * Santonia Energy, Inc. 33,500 65,223 Saputo, Inc. 2,700 133,595 Savanna Energy Services Corp. 35,280 265,281 * Scorpio Mining Corp. 31,700 8,361 Sears Canada, Inc. 5,084 70,703 Secure Energy Services, Inc. 10,900 154,617 # SEMAFO, Inc. 108,779 295,252 # Shaw Communications, Inc. Class B 4,800 114,815 ShawCor, Ltd. 4,853 204,006 # Sherritt International Corp. 97,809 334,895 Shoppers Drug Mart Corp. 4,243 247,910 * Shore Gold, Inc. 15,000 2,302 * Sierra Wireless, Inc. 11,300 204,617 * Silver Standard Resources, Inc.(82823L106) 7,595 42,684 #* Silver Standard Resources, Inc.(2218458) 28,273 159,174 Silver Wheaton Corp. 9,100 206,499 SNC-Lavalin Group, Inc. 2,900 121,852 * Sonde Resources Corp. 10,900 8,572 #* Southern Pacific Resource Corp. 90,301 56,295 #* SouthGobi Resources, Ltd. 14,057 16,448 Sprott Resource Corp. 42,587 116,000 # Sprott, Inc. 15,246 38,602 # Spyglass Resources Corp. 43,357 86,493 * St Andrew Goldfields, Ltd. 48,000 13,120 Stantec, Inc. 7,412 440,462 Stella-Jones, Inc. 5,600 153,286 #* Stornoway Diamond Corp. 3,000 2,647 Strad Energy Services, Ltd. 4,059 14,170 # Student Transportation, Inc. 7,964 50,107 Sun Life Financial, Inc.(866796105) 2,998 100,913 # Sun Life Financial, Inc.(2566124) 24,578 827,871 Suncor Energy, Inc.(867224107) 22,945 834,051 Suncor Energy, Inc.(B3NB1P2) 44,972 1,634,287 * SunOpta, Inc. 14,332 154,227 # Superior Plus Corp. 16,821 179,398 # Surge Energy, Inc. 58,099 387,828 #* TAG Oil, Ltd. 19,755 80,335 Talisman Energy, Inc.(87425E103) 9,212 114,966 # Talisman Energy, Inc.(2068299) 133,147 1,660,107 * Taseko Mines, Ltd. 65,075 159,777 # Teck Resources, Ltd. Class B(2879327) 17,000 454,899 Teck Resources, Ltd. Class B(878742204) 9,096 243,227 # TELUS Corp. 10,600 370,260 * Tembec, Inc. 16,400 41,997 * Teranga Gold Corp.(B5TDK82) 25,596 14,484 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- CANADA -- (Continued) * Teranga Gold Corp.(B4L8QT1) 11,133 $ 6,469 * Theratechnologies, Inc. 2,900 584 * Thompson Creek Metals Co., Inc.(884768102) 9,468 30,392 #* Thompson Creek Metals Co., Inc.(2439806) 60,900 196,254 # Thomson Reuters Corp. 10,416 391,405 Tim Hortons, Inc. 3,300 196,990 * Timmins Gold Corp. 46,531 74,528 TMX Group, Ltd. 2,726 124,319 # TORC Oil & Gas, Ltd. 14,257 136,599 Toromont Industries, Ltd. 6,400 141,793 Toronto-Dominion Bank (The) 21,129 1,938,117 Torstar Corp. Class B 21,374 114,798 Total Energy Services, Inc. 8,184 144,897 * Tourmaline Oil Corp. 5,196 201,481 TransAlta Corp.(89346D107) 12,133 163,432 # TransAlta Corp.(2901628) 21,557 290,073 TransCanada Corp. 12,267 552,847 Transcontinental, Inc. Class A 29,500 471,083 TransForce, Inc. 13,591 300,979 * TransGlobe Energy Corp. 35,703 323,250 # Trican Well Service, Ltd. 54,245 762,182 # Trilogy Energy Corp. 2,200 64,545 Trinidad Drilling, Ltd. 66,169 640,970 * Turquoise Hill Resources, Ltd.(900435108) 8,952 43,149 #* Turquoise Hill Resources, Ltd.(B7WJ1F5) 37,799 182,352 * TVA Group, Inc. Class B 653 5,136 # Twin Butte Energy, Ltd. 99,464 211,778 Uni-Select, Inc. 2,800 64,988 * US Silver & Gold, Inc. 8,800 4,642 Valener, Inc. 5,089 75,702 # Veresen, Inc. 22,300 275,903 #* Veris Gold Corp. 8,295 4,455 # Vermilion Energy, Inc.(B607XS1) 900 49,469 * Vermilion Energy, Inc.(923725105) 800 44,040 # Wajax Corp. 4,761 170,184 WaterFurnace Renewable Energy, Inc. 913 20,131 * Wesdome Gold Mines, Ltd. 14,500 9,179 West Fraser Timber Co., Ltd. 6,281 575,721 Western Energy Services Corp. 10,621 80,168 Western Forest Products, Inc. 13,900 19,864 Westjet Airlines, Ltd. 700 18,308 Westshore Terminals Investment Corp. 1,350 44,450 Whistler Blackcomb Holdings, Inc. 6,900 95,957 # Whitecap Resources, Inc. 44,247 513,913 Wi-Lan, Inc. 35,216 110,784 Winpak, Ltd. 3,194 70,028 * Xtreme Drilling and Coil Services Corp. 9,526 32,069 Yamana Gold, Inc.(98462Y100) 6,868 68,199 Yamana Gold, Inc.(2219279) 105,405 1,045,305 # Zargon Oil & Gas, Ltd. 10,757 79,544 ----------- TOTAL CANADA 94,843,953 ----------- INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- CHINA -- (0.0%) * Hanfeng Evergreen, Inc. 5,700 $ 5,467 * Superb Summit International Group, Ltd. 1,053,000 46,175 ---------- TOTAL CHINA 51,642 ---------- COLOMBIA -- (0.0%) * Platino Energy Corp. 3,845 2,213 ---------- DENMARK -- (1.3%) ALK-Abello A.S. 2,748 261,082 * Alm Brand A.S. 40,716 159,371 Ambu A.S. Class B 1,270 57,163 AP Moeller--Maersk A.S. Class A 28 252,836 AP Moeller--Maersk A.S. Class B 65 628,873 * Auriga Industries Class B 5,968 234,206 * Bang & Olufsen A.S. 12,285 118,658 * Bavarian Nordic A.S. 11,500 139,838 Carlsberg A.S. Class B 4,802 479,652 Chr Hansen Holding A.S. 5,929 219,690 Coloplast A.S. Class B 3,661 238,787 D/S Norden A.S. 12,539 551,514 * Danske Bank A.S. 32,955 770,020 Dfds A.S. 1,604 116,778 DSV A.S. 17,039 498,496 #* East Asiatic Co., Ltd. A.S. 3,691 63,080 # FLSmidth & Co. A.S. 8,988 448,585 * Genmab A.S. 6,263 272,111 GN Store Nord A.S. 39,518 901,516 H Lundbeck A.S. 9,527 204,559 * H+H International A.S. Class B 1,940 10,950 Harboes Bryggeri A.S. Class B 511 7,136 IC Companys A.S. 2,785 75,451 Jeudan A.S. 667 70,335 * Jyske Bank A.S. 30,655 1,733,227 NKT Holding A.S. 11,686 567,117 Nordjyske Bank A.S. 140 2,827 Norresundby Bank A.S. 195 7,616 Novozymes A.S. Class B 7,154 280,190 Pandora A.S. 12,272 584,973 * Parken Sport & Entertainment A.S. 848 12,074 PER Aarsleff A.S. Class B 525 65,376 Ringkjoebing Landbobank A.S. 1,365 274,749 Rockwool International A.S. Class B 2,305 362,548 Royal UNIBREW A.S. 3,788 486,289 Schouw & Co. 6,091 227,161 SimCorp A.S. 6,332 207,299 Solar A.S. Class B 1,615 91,945 * Spar Nord Bank A.S. 27,038 241,546 * Sydbank A.S. 32,488 960,659 TDC A.S. 48,913 441,837 Tivoli A.S. 1 530 * TK Development A.S. 11,419 14,235 * Topdanmark A.S. 30,020 817,080 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- DENMARK -- (Continued) * TopoTarget A.S. 61,560 $ 28,803 * Torm A.S. 22,753 7,068 Tryg A.S. 2,508 229,025 United International Enterprises 746 142,917 #* Vestas Wind Systems A.S. 37,011 991,778 * Vestjysk Bank A.S. 1,419 3,239 * William Demant Holding A.S. 1,680 166,365 * Zealand Pharma A.S. 157 1,766 ----------- TOTAL DENMARK 15,730,926 ----------- FINLAND -- (1.9%) Afarak Group Oyj 27,643 13,144 Ahlstrom Oyj 6,489 80,546 Aktia Bank Oyj 2,082 21,584 Alma Media Oyj 6,053 25,861 Amer Sports Oyj 27,104 556,102 Apetit Oyj 276 7,123 Aspo Oyj 1,177 8,586 Atria P.L.C. 2,419 26,763 Bank of Aland P.L.C. Class B 5 56 BasWare Oyj 30 872 # Cargotec Oyj 13,480 492,230 * Caverion Corp. 15,587 121,848 Citycon Oyj 49,162 175,255 Cramo Oyj 5,196 103,886 # Elektrobit Corp. 47,687 91,442 # Elisa Oyj 26,318 659,364 F-Secure Oyj 14,826 38,319 Finnair Oyj 30,953 118,147 * Finnlines Oyj 894 8,096 Fiskars Oyj Abp 4,309 110,314 Fortum Oyj 73,738 1,644,870 HKScan Oyj Class A 5,330 24,393 Huhtamaki Oyj 25,134 604,158 Ilkka-Yhtyma Oyj 3,592 14,904 Kemira Oyj 39,860 639,996 Kesko Oyj Class A 817 28,126 Kesko Oyj Class B 30,508 1,013,782 Kone Oyj Class B 3,280 289,172 Konecranes Oyj 4,682 157,736 Lassila & Tikanoja Oyj 5,798 121,576 Lemminkainen Oyj 2,049 41,138 Metsa Board Oyj 83,757 325,004 # Metso Oyj 8,626 339,520 * Munksjo Oyj 1,622 10,363 Neste Oil Oyj 42,484 842,387 #* Nokia Oyj 440,404 3,347,413 Nokian Renkaat Oyj 7,920 400,563 Okmetic Oyj 2,360 17,183 Olvi Oyj Class A 2,656 95,724 Oriola-KD Oyj Class B 37,061 120,189 Orion Oyj Class A 2,849 76,281 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- FINLAND -- (Continued) Orion Oyj Class B 12,908 $ 346,918 #* Outokumpu Oyj 300,381 166,816 # Outotec Oyj 15,432 152,608 PKC Group Oyj 3,484 113,627 Pohjola Bank P.L.C. Class A 28,663 521,973 Ponsse Oy 608 7,382 * Poyry Oyj 4,941 26,170 Raisio P.L.C. Class V 34,264 199,376 Ramirent Oyj 20,162 242,272 # Rautaruukki Oyj 41,660 360,329 Saga Furs Oyj 284 16,975 Sampo Class A 16,373 774,454 Sanoma Oyj 29,118 252,635 Sievi Capital P.L.C. 9,299 13,395 # Stockmann Oyj Abp(5462393) 7,512 119,941 Stockmann Oyj Abp(5462371) 2,666 44,493 Stora Enso Oyj Class R 184,454 1,712,816 * Talvivaara Mining Co. P.L.C. 190,260 18,910 # Technopolis Oyj 9,283 62,999 Tieto Oyj 19,375 425,663 Tikkurila Oyj 4,275 110,836 UPM-Kymmene Oyj 178,005 2,826,228 # Uponor Oyj 11,072 218,693 Vacon P.L.C. 1,326 98,550 Vaisala Oyj Class A 1,578 38,563 Wartsila Oyj Abp 5,842 259,218 YIT Oyj 23,268 301,813 ----------- TOTAL FINLAND 22,247,669 ----------- FRANCE -- (6.1%) Accor SA 5,760 257,448 Aeroports de Paris 1,173 125,293 #* Air France-KLM 45,894 478,636 Akka Technologies SA 1,139 34,148 Albioma 7,686 187,861 * Alcatel-Lucent 863,979 3,309,951 * Alcatel-Lucent Sponsored ADR 32,900 126,007 Alstom SA 4,833 179,405 Altamir 4,940 67,364 Alten SA 6,822 308,466 Altran Technologies SA 38,454 340,795 April 6,020 127,989 #* Archos 3,060 14,877 Arkema SA 6,195 700,874 Assystem 3,682 100,229 AtoS 4,687 399,522 * Audika Groupe 1,518 20,405 AXA SA 38,807 966,893 AXA SA Sponsored ADR 14,588 364,846 Axway Software SA 565 16,961 * Beneteau SA 8,579 157,096 * Bigben Interactive 1,386 13,882 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- FRANCE -- (Continued) BioMerieux 1,872 $ 187,897 BNP Paribas SA 36,071 2,661,070 Boiron SA 1,869 126,454 * Bollore SA(BDGTH22) 5 2,743 Bollore SA(4572709) 930 507,147 Bonduelle SCA 4,808 119,971 Bongrain SA 1,522 111,314 Bourbon SA 20,359 580,229 * Boursorama 7,609 76,353 Bouygues SA 31,265 1,219,861 * Bull 26,345 116,331 Bureau Veritas SA 1,652 49,834 Cap Gemini SA 15,042 986,424 Carrefour SA 18,582 678,290 Casino Guichard Perrachon SA 6,133 689,378 * Cegedim SA 820 21,664 Cegid Group 1,838 53,662 * CGG 18,610 409,046 * CGG Sponsored ADR 16,300 357,785 #* Chargeurs SA 3,615 26,766 Christian Dior SA 799 151,600 Cie de St-Gobain 45,709 2,399,268 Cie des Alpes 804 16,350 Cie Generale des Etablissements Michelin 15,610 1,626,529 Ciments Francais SA 1,747 125,122 * Club Mediterranee SA 7,116 167,890 CNP Assurances 27,829 490,238 * Credit Agricole SA 153,510 1,845,734 Dassault Systemes SA 1,344 163,277 * Derichebourg SA 32,767 114,513 Devoteam SA 983 17,483 Edenred 7,935 269,374 Eiffage SA 9,385 556,185 Electricite de France SA 5,920 207,188 Electricite de Strasbourg 88 12,117 # Eramet 738 70,081 Essilor International SA 4,309 461,775 Esso SA Francaise 803 51,681 Etablissements Maurel et Prom 17,161 276,289 Euler Hermes SA 3,745 494,432 * Euro Disney SCA 2,997 19,554 Eurofins Scientific 767 209,972 Eutelsat Communications SA 2,295 72,586 Faiveley Transport SA 2,273 177,396 #* Faurecia 16,287 474,666 Fimalac 1,034 64,188 * GameLoft SE 6,034 64,015 GDF Suez 61,801 1,531,661 GL Events 2,844 61,430 Groupe Crit 1,020 43,314 Groupe Eurotunnel SA 113,184 1,095,722 Groupe Flo 2,320 10,208 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- FRANCE -- (Continued) * Groupe Fnac 366 $ 10,228 Groupe Steria SCA 11,959 220,971 Guerbet 133 18,060 * Haulotte Group SA 6,728 82,002 Havas SA 67,887 564,508 * Hi-Media SA 15,109 38,537 Iliad SA 461 105,289 Imerys SA 2,826 226,701 # Ingenico 5,133 385,583 Interparfums SA 2,528 99,557 Ipsen SA 2,449 107,272 IPSOS 9,436 397,201 Jacquet Metal Service 4,671 78,481 JCDecaux SA 3,656 146,533 Kering 2,938 665,841 Korian 2,620 81,842 L.D.C. SA 210 33,815 Lafarge SA 30,333 2,092,837 Lagardere SCA 50,970 1,851,702 Laurent-Perrier 548 51,190 Legrand SA 4,078 231,123 LISI 1,020 157,428 # LVMH Moet Hennessy Louis Vuitton SA 2,587 496,692 Maisons France Confort 139 5,126 # Manitou BF SA 3,827 72,085 Manutan International 234 14,286 Medica SA 13,168 338,378 Mersen 4,643 169,841 Metropole Television SA 8,458 194,563 # MGI Coutier 441 54,082 Montupet 2,611 98,082 Natixis 149,545 804,193 Naturex 1,775 140,116 # Neopost SA 6,547 494,304 # Nexans SA 13,317 592,088 Nexity SA 11,789 461,593 Norbert Dentressangle SA 948 107,529 * NRJ Group 3,854 37,140 Orange 81,058 1,114,229 Orange SA ADR 3,032 41,629 Orpea 8,329 449,238 #* Osiatis SA 1,892 26,536 * Parrot SA 1,776 49,495 Pernod-Ricard SA 2,185 262,437 #* Peugeot SA 97,461 1,282,097 * Pierre & Vacances SA 947 25,432 Plastic Omnium SA 10,503 300,061 Publicis Groupe SA 4,427 368,147 Rallye SA 11,114 472,967 #* Recylex SA 7,033 31,658 Remy Cointreau SA 864 85,105 Renault SA 28,018 2,444,577 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- FRANCE -- (Continued) Rexel SA 24,727 $ 619,234 Robertet SA 246 60,084 Rubis SCA 3,058 190,904 Sa des Ciments Vicat 4,734 353,722 Safran SA 5,906 376,555 Saft Groupe SA 9,336 296,045 Samse SA 40 3,962 Sanofi 23,775 2,534,965 Sanofi ADR 880 47,062 Sartorius Stedim Biotech 1,037 155,924 Schneider Electric SA 6,126 515,489 SCOR SE 46,947 1,657,035 SEB SA 3,516 315,478 Seche Environnement SA 944 37,819 * Sequana SA 1,894 15,689 SES SA 6,419 186,702 Soc Mar Tunnel Prado Car 200 7,855 Societe BIC SA 1,862 232,517 Societe d'Edition de Canal + 12,014 99,061 Societe des Bains de Mer et du Cercle des Etrangers a Monaco 408 22,288 Societe Generale SA 59,410 3,356,041 Societe Internationale de Plantations d'Heveas SA 378 28,340 Societe Television Francaise 1 37,938 730,986 Sodexo 1,924 186,678 #* SOITEC 53,292 120,455 #* Solocal Group 27,928 65,060 Somfy SA 303 75,519 Sopra Group SA 896 78,319 * Ste Industrielle d'Aviation Latecoere SA 3,238 58,183 Stef 1,194 80,264 STMicroelectronics NV(5962332) 106,648 820,337 # STMicroelectronics NV(861012102) 14,700 112,749 * Store Electronic 1,158 20,827 Suez Environnement Co. 10,221 178,226 Sword Group 2,537 53,461 Synergie SA 4,436 80,053 * Technicolor SA 16,841 90,873 Technip SA 3,079 322,490 Teleperformance 19,683 1,041,918 Thales SA 2,245 137,497 #* Theolia SA 18,387 34,452 Thermador Groupe 269 24,058 Total Gabon 61 39,142 Total SA 28,039 1,720,275 # Total SA Sponsored ADR 16,698 1,021,584 Touax SA 388 10,390 #* Transgene SA 1,632 21,339 * Trigano SA 3,671 77,915 * UBISOFT Entertainment 38,345 491,875 Union Financiere de France BQE SA 730 17,471 Valeo SA 6,816 674,302 Vallourec SA 21,896 1,303,286 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- FRANCE -- (Continued) * Valneva SE 568 $ 3,691 Veolia Environnement SA 13,851 237,623 Vetoquinol SA 151 6,009 Viel et Co. 10,410 34,351 # Vilmorin & Cie 1,037 122,338 Vinci SA 10,070 644,341 Virbac SA 612 123,104 Vivendi SA 53,400 1,352,083 * VM Materiaux SA 25 952 Vranken-Pommery Monopole SA 394 12,749 Zodiac Aerospace 2,570 411,218 ----------- TOTAL FRANCE 73,054,626 ----------- GERMANY -- (5.4%) * Aareal Bank AG 21,375 819,798 Adidas AG 6,474 737,683 Adler Modemaerkte AG 1,400 18,053 * ADVA Optical Networking SE 13,638 72,800 #* Air Berlin P.L.C. 2,352 5,418 * Aixtron SE NA 10,539 151,259 Allgeier SE 1,474 31,031 Allianz SE 20,504 3,442,669 Allianz SE ADR 11,988 201,758 Amadeus Fire AG 140 9,214 * AS Creation Tapeten 50 2,616 Aurubis AG 10,889 686,061 # Axel Springer AG 7,705 464,920 BASF SE 10,336 1,073,027 Bauer AG 3,785 92,829 Bayer AG 31 3,846 Bayerische Motoren Werke AG 6,302 713,250 BayWa AG 4,966 252,904 Bechtle AG 4,997 320,449 Beiersdorf AG 2,570 245,058 Bertrandt AG 498 65,132 Bijou Brigitte AG 1,198 126,242 Bilfinger SE 10,392 1,153,203 Biotest AG 741 61,271 Borussia Dortmund GmbH & Co. KGaA 22,965 118,600 Brenntag AG 3,843 650,271 CANCOM SE 3,065 117,537 Carl Zeiss Meditec AG 1,892 59,764 CAT Oil AG 4,317 105,341 # Celesio AG 38,400 1,193,852 CENIT AG 1,384 19,417 CENTROTEC Sustainable AG 3,207 79,734 Cewe Stiftung & Co. KGAA 2,595 145,100 Comdirect Bank AG 14,178 161,138 * Commerzbank AG 151,865 1,942,295 # CompuGroup Medical AG 562 14,639 * Constantin Medien AG 11,950 26,729 Continental AG 2,736 500,323 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- GERMANY -- (Continued) CropEnergies AG 11,125 $ 104,079 CTS Eventim AG 1,793 87,413 DAB Bank AG 5,739 28,887 Daimler AG 25,279 2,069,712 # Delticom AG 1,376 72,567 Deutsche Bank AG(5750355) 1,126 54,419 Deutsche Bank AG(D18190898) 46,645 2,253,886 Deutsche Boerse AG 4,569 343,712 * Deutsche Lufthansa AG 46,227 893,708 Deutsche Post AG 30,092 1,016,248 Deutsche Telekom AG 37,974 596,750 Deutsche Telekom AG Sponsored ADR 26,160 413,066 # Deutsche Wohnen AG 17,607 331,132 * Deutz AG 36,314 344,434 #* Dialog Semiconductor P.L.C. 20,250 389,078 # DMG MORI SEIKI AG 29,338 964,384 Dr Hoenle AG 1,129 18,745 Draegerwerk AG & Co. KGaA 824 81,551 Drillisch AG 8,176 210,701 Duerr AG 3,046 266,582 E.ON SE 86,250 1,572,207 Eckert & Ziegler AG 1,371 55,769 Elmos Semiconductor AG 4,954 65,075 ElringKlinger AG 6,064 257,836 Euromicron AG 3,318 78,640 #* Evotec AG 39,586 231,575 Fielmann AG 103 11,519 #* Francotyp-Postalia Holding AG Class A 1,685 9,679 Fraport AG Frankfurt Airport Services Worldwide 6,284 486,150 Freenet AG 32,108 833,998 Fresenius Medical Care AG & Co. KGaA 8,202 542,039 Fresenius Medical Care AG & Co. KGaA ADR 2,000 65,840 Fresenius SE & Co. KGaA 5,297 687,622 Fuchs Petrolub AG 497 33,787 * GAGFAH SA 4,662 66,083 GEA Group AG 14,891 647,204 Gerresheimer AG 5,778 382,208 # Gerry Weber International AG 2,100 87,020 Gesco AG 909 92,454 GFK SE 3,505 204,960 GFT Technologies AG 7,299 59,886 #* Gigaset AG 14,453 19,880 Grammer AG 6,096 283,645 Grenkeleasing AG 1,404 138,896 * GSW Immobilien AG 4,810 223,679 * H&R AG 3,046 36,871 Hamburger Hafen und Logistik AG 7,882 197,797 Hannover Rueck SE 18,296 1,464,254 * Hansa Group AG 3,842 7,651 HeidelbergCement AG 23,419 1,844,004 #* Heidelberger Druckmaschinen AG 113,461 303,323 Henkel AG & Co. KGaA 1,292 119,159 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ ---------- GERMANY -- (Continued) Highlight Communications AG 7,046 $ 36,163 Hochtief AG 5,194 469,771 Homag Group AG 1,297 31,309 Hugo Boss AG 1,001 130,397 Indus Holding AG 8,295 298,074 Infineon Technologies AG ADR 51,964 498,854 Isra Vision AG 1,199 57,496 # Jenoptik AG 19,839 346,584 * Joyou AG 2,072 39,338 # K+S AG 7,234 183,813 * Kloeckner & Co. SE 50,859 717,389 Koenig & Bauer AG 2,079 39,673 Kontron AG 23,063 157,749 Krones AG 4,741 414,966 KSB AG 37 24,241 # KUKA AG 5,516 251,043 KWS Saat AG 469 167,484 Lanxess AG 5,988 420,548 Leifheit AG 470 19,173 Leoni AG 12,333 834,745 Linde AG 3,973 754,177 LPKF Laser & Electronics AG 3,954 82,368 MAN SE 1,448 174,439 * Manz AG 828 59,766 Merck KGaA 2,471 411,052 Metro AG 11,356 532,437 MLP AG 16,577 103,434 * Morphosys AG 3,794 293,476 MTU Aero Engines AG 3,512 350,256 Muehlbauer Holding AG & Co. KGaA 110 2,915 Muenchener Rueckversicherungs AG 8,536 1,780,885 MVV Energie AG 479 15,847 Nemetschek AG 818 53,989 * Nordex SE 27,580 483,385 Norma Group SE 5,938 296,961 OHB AG 562 13,376 #* Osram Licht AG 14,483 750,134 * Patrizia Immobilien AG 15,057 141,034 Pfeiffer Vacuum Technology AG 1,650 192,129 PNE Wind AG 20,016 79,219 Progress-Werk Oberkirch AG 133 7,569 # Puma SE 452 134,468 * QIAGEN NV 30,939 710,079 QSC AG 43,767 272,234 R Stahl AG 522 25,268 Rational AG 372 113,914 Rheinmetall AG 20,191 1,248,279 Rhoen Klinikum AG 32,851 918,071 RIB Software AG 6,277 55,930 RWE AG 73,139 2,694,593 * SAF-Holland SA 21,566 306,580 Salzgitter AG 15,031 661,505 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- GERMANY -- (Continued) Schaltbau Holding AG 632 $ 34,962 # SGL Carbon SE 5,961 232,461 SHW AG 230 14,123 Siemens AG 4,067 519,731 Siemens AG Sponsored ADR 4,862 622,385 #* Singulus Technologies AG 14,065 34,416 Sixt SE 5,260 158,504 SKW Stahl-Metallurgie Holding AG 1,512 24,596 * Sky Deutschland AG 52,321 515,616 # SMA Solar Technology AG 4,697 191,466 SMT Scharf AG 508 16,454 Software AG 10,920 404,340 #* Solarworld AG 15,913 16,971 Stada Arzneimittel AG 17,362 997,998 * Stroeer Media AG 7,372 127,364 Suedzucker AG 5,483 176,378 * Suss Microtec AG 9,883 104,804 Symrise AG 5,966 252,596 # TAG Immobilien AG 26,881 324,708 Takkt AG 6,570 130,459 Technotrans 1,769 18,771 Telegate AG 473 4,111 * ThyssenKrupp AG 34,086 869,648 * Tipp24 SE 1,505 97,884 #* Tom Tailor Holding AG 6,569 149,724 #* TUI AG 62,308 825,473 United Internet AG 3,923 154,747 Volkswagen AG 1,501 367,063 Vossloh AG 1,407 145,134 VTG AG 3,591 74,895 # Wacker Chemie AG 3,245 304,731 Wacker Neuson SE 8,764 134,622 # Washtec AG 5,153 73,522 Wincor Nixdorf AG 3,879 256,473 Wirecard AG 2,073 75,423 XING AG 84 8,471 ----------- TOTAL GERMANY 64,856,598 ----------- GREECE -- (0.3%) * Alpha Bank AE 80,019 71,675 Athens Water Supply & Sewage Co. SA (The) 2,339 26,393 * Bank of Cyprus P.L.C. 171,745 -- Bank of Greece 3,497 76,041 * Diagnostic & Therapeutic Center of Athens Hygeia SA 13,381 8,387 * Ellaktor SA 23,131 100,524 * Folli Follie SA 8,653 257,011 * Fourlis Holdings SA 6,512 30,854 * Frigoglass SA 10,274 82,189 * GEK Terna Holding Real Estate Construction SA 11,494 48,934 Hellenic Exchanges SA Holding Clearing Settlement and Registry 15,367 161,523 Hellenic Petroleum SA 16,831 218,855 * Hellenic Telecommunications Organization SA 33,069 416,187 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- GREECE -- (Continued) Intralot SA-Integrated Lottery Systems & Services 21,273 $ 56,155 * JUMBO SA 23,577 316,347 * Lamda Development SA 2,665 17,647 * Marfin Investment Group Holdings SA 146,593 93,463 Metka SA 6,296 118,210 Motor Oil Hellas Corinth Refineries SA 16,366 194,564 * Mytilineos Holdings SA 18,602 150,209 * National Bank of Greece SA 70,212 398,794 National Bank of Greece SA ADR 828 4,844 OPAP SA 9,292 115,385 * Piraeus Bank SA 17,430 36,384 Piraeus Port Authority 870 21,137 Public Power Corp. SA 5,009 74,442 * Sarantis SA 1,038 8,253 * Sidenor Steel Products Manufacturing Co. SA 5,520 12,780 Terna Energy SA 6,990 34,564 * Titan Cement Co. SA 10,050 273,367 * TT Hellenic Postbank SA 30,534 -- * Viohalco Hellenic Copper and Aluminum Industry SA 25,814 255,525 ---------- TOTAL GREECE 3,680,643 ---------- HONG KONG -- (2.6%) AAC Technologies Holdings, Inc. 27,000 118,631 Aeon Stores Hong Kong Co., Ltd. 5,500 8,303 AIA Group, Ltd. 200,200 1,016,582 Alco Holdings, Ltd. 68,000 14,477 Allied Group, Ltd. 6,000 22,443 Allied Properties HK, Ltd. 650,540 107,402 * Anxian Yuan China Holdings, Ltd. 300,000 7,541 * Apac Resources, Ltd. 600,000 11,689 APT Satellite Holdings, Ltd. 114,000 123,835 Asia Financial Holdings, Ltd. 98,000 41,189 Asia Satellite Telecommunications Holdings, Ltd. 27,000 104,794 Asia Standard International Group 230,000 52,166 ASM Pacific Technology, Ltd. 9,600 92,652 Associated International Hotels, Ltd. 10,000 29,428 Bank of East Asia, Ltd. 49,258 213,471 * Birmingham International Holdings, Ltd. 326,000 -- BOC Hong Kong Holdings, Ltd. 79,000 256,981 Bonjour Holdings, Ltd. 168,000 36,356 Bossini International Hldg 160,000 9,594 * Brightoil Petroleum Holdings, Ltd. 117,000 20,068 * Brockman Mining, Ltd. 873,840 46,259 Cafe de Coral Holdings, Ltd. 24,000 82,523 Cathay Pacific Airways, Ltd. 121,000 239,701 * Chaoyue Group, Ltd. 15,000 735 Chen Hsong Holdings 48,000 15,160 Cheuk Nang Holdings, Ltd. 20,000 18,020 Cheung Kong Holdings, Ltd. 66,000 1,032,426 Cheung Kong Infrastructure Holdings, Ltd. 22,000 153,092 * Cheung Wo International Holdings, Ltd. 120,000 12,828 Chevalier International Holdings, Ltd. 20,000 35,174 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ---------- HONG KONG -- (Continued) * China Billion Resources, Ltd. 198,000 $ -- * China Daye Non-Ferrous Metals Mining, Ltd. 582,000 15,241 China Electronics Corp. Holdings Co., Ltd. 150,000 29,231 * China Energy Development Holdings, Ltd. 746,000 8,674 * China Flavors & Fragrances Co., Ltd. 18,102 2,770 * China Infrastructure Investment, Ltd. 532,000 10,476 China Metal International Holdings, Inc. 162,000 45,511 * China Nuclear Industry 23 International Corp., Ltd. 48,000 6,929 * China Outdoor Media Group, Ltd. 1,750,000 9,919 * China Renji Medical Group, Ltd. 7,286,000 40,493 * China Solar Energy Holdings, Ltd. 64,000 1,486 # Chong Hing Bank, Ltd. 57,000 256,776 Chow Sang Sang Holdings International, Ltd. 57,000 184,859 Chow Tai Fook Jewellery Group, Ltd. 33,000 54,722 Chu Kong Shipping Enterprise Group Co., Ltd. 298,000 82,963 Chuang's Consortium International, Ltd. 266,925 33,429 CITIC Telecom International Holdings, Ltd. 441,000 137,059 CK Life Sciences International Holdings, Inc. 966,000 89,663 CNT Group, Ltd. 406,000 16,774 * CP Lotus Corp. 260,000 8,049 Cross-Harbour Holdings, Ltd. (The) 7,000 5,639 CSI Properties, Ltd. 1,321,515 45,967 * Culture Landmark Investment, Ltd. 39,600 4,008 * Culturecom Holdings, Ltd. 50,000 8,959 Dah Sing Banking Group, Ltd. 191,960 361,551 Dah Sing Financial Holdings, Ltd. 68,200 426,010 Dan Form Holdings Co., Ltd. 191,000 21,661 Dickson Concepts International, Ltd. 89,000 55,415 Dorsett Hospitality International, Ltd. 247,000 54,141 EcoGreen Fine Chemicals Group, Ltd. 4,000 878 Emperor Capital Group, Ltd. 342,000 15,242 Emperor Entertainment Hotel, Ltd. 195,000 98,010 Emperor International Holdings 497,750 143,040 Emperor Watch & Jewellery, Ltd. 1,570,000 125,677 * EPI Holdings, Ltd. 2,650,000 78,500 Esprit Holdings, Ltd. 674,599 1,243,849 * eSun Holdings, Ltd. 198,000 26,553 Fairwood, Ltd. 8,000 16,387 # Far East Consortium International, Ltd. 368,930 121,896 * FIH Mobile, Ltd. 474,000 266,390 First Pacific Co., Ltd. 349,200 397,054 * Fountain SET Holdings, Ltd. 436,000 59,086 Fujikon Industrial Holdings, Ltd. 8,000 2,125 * G-Resources Group, Ltd. 10,033,800 299,869 * Galaxy Entertainment Group, Ltd. 34,000 253,806 #* Genting Hong Kong, Ltd. 400,000 181,487 Get Nice Holdings, Ltd. 896,000 40,990 # Giordano International, Ltd. 186,000 174,475 Glorious Sun Enterprises, Ltd. 122,000 27,855 Golden Resources Development International, Ltd. 90,000 4,928 * Goldin Properties Holdings, Ltd. 2,000 923 # Guotai Junan International Holdings, Ltd. 250,000 107,136 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- HONG KONG -- (Continued) Haitong International Securities Group, Ltd. 158,405 $ 77,908 Hang Lung Group, Ltd. 116,000 612,146 Hang Lung Properties, Ltd. 165,000 543,366 Hang Seng Bank, Ltd. 8,800 147,017 * Hao Tian Development Group, Ltd. 728,000 32,363 # Harbour Centre Development, Ltd. 36,000 66,043 Henderson Land Development Co., Ltd. 197,129 1,165,198 HKR International, Ltd. 191,771 93,783 Hon Kwok Land Investment Co., Ltd. 62,000 23,889 Hong Kong Aircraft Engineering Co., Ltd. 3,200 42,914 # Hong Kong Exchanges and Clearing, Ltd. 24,566 397,251 Hong Kong Television Network, Ltd. 131,000 42,913 # Hong Kong Television Network, Ltd. ADR 3,100 19,871 Hongkong & Shanghai Hotels (The) 101,500 159,731 Hongkong Chinese, Ltd. 164,000 36,417 Hopewell Holdings, Ltd. 193,000 651,215 Hsin Chong Construction Group, Ltd. 250,000 34,155 Hung Hing Printing Group, Ltd. 150,000 21,664 Hutchison Telecommunications Hong Kong Holdings, Ltd. 348,000 154,055 Hutchison Whampoa, Ltd. 66,000 821,978 Hysan Development Co., Ltd. 25,000 117,106 * Imagi International Holdings, Ltd. 3,008,000 36,062 * IRC, Ltd. 664,000 71,858 # IT, Ltd. 298,000 90,700 Johnson Electric Holdings, Ltd. 430,000 309,502 K Wah International Holdings, Ltd. 588,601 322,780 Keck Seng Investments 48,000 26,858 Kerry Properties, Ltd. 105,500 458,866 * King Stone Energy Group, Ltd. 78,000 3,504 Kingmaker Footwear Holdings, Ltd. 72,000 16,624 # Kingston Financial Group, Ltd. 716,000 81,235 Kowloon Development Co., Ltd. 161,000 198,744 L'Occitane International SA 11,500 26,084 * Lai Sun Development 5,039,666 144,312 * Lai Sun Garment International, Ltd. 138,000 25,160 Lerado Group Holdings Co. 138,000 15,685 Li & Fung, Ltd. 180,000 253,084 Lifestyle International Holdings, Ltd. 62,000 135,112 * Lifestyle Properties Development, Ltd. 1,800 365 Lippo China Resources, Ltd. 304,000 9,206 Lippo, Ltd. 6,000 3,010 * Lisi Group Holdings, Ltd. 98,000 4,673 Liu Chong Hing Investment 32,000 71,070 Luen Thai Holdings, Ltd. 87,000 31,982 Luk Fook Holdings International, Ltd. 108,000 384,164 Lung Kee Bermuda Holdings 38,000 14,010 Magnificent Estates 818,000 39,605 Man Wah Holdings, Ltd. 68,800 118,221 * Melco Crown Entertainment, Ltd. ADR 3,915 129,821 # Melco International Development, Ltd. 298,000 937,318 MGM China Holdings, Ltd. 18,800 65,066 # Midland Holdings, Ltd. 256,584 104,563 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- -------- HONG KONG -- (Continued) * Ming Fung Jewellery Group, Ltd. 486,000 $ 15,538 Miramar Hotel & Investment 39,000 50,014 #* Mongolian Mining Corp. 777,000 128,309 MTR Corp., Ltd. 28,025 108,387 NagaCorp, Ltd. 174,000 160,679 Natural Beauty Bio-Technology, Ltd. 140,000 9,030 * Neo-Neon Holdings, Ltd. 205,000 47,519 * Neptune Group, Ltd. 870,000 39,807 * New Smart Energy Group, Ltd. 605,000 10,386 New World Development Co., Ltd. 689,009 954,954 Newocean Energy Holdings, Ltd. 190,000 116,182 * Next Media, Ltd. 184,000 20,174 NWS Holdings, Ltd. 172,723 270,615 * Orange Sky Golden Harvest Entertainment Holdings, Ltd. 265,000 12,824 # Orient Overseas International, Ltd. 76,500 395,131 Oriental Watch Holdings 198,000 63,336 Pacific Andes International Holdings, Ltd. 812,224 36,628 Pacific Basin Shipping, Ltd. 544,000 389,290 Pacific Textile Holdings, Ltd. 80,000 109,592 Paliburg Holdings, Ltd. 108,000 34,686 * Pan Asia Environmental Protection Group, Ltd. 78,000 14,487 * Paradise Entertainment, Ltd. 44,000 12,921 PCCW, Ltd. 724,000 327,851 * Pearl Oriental Oil, Ltd. 558,800 19,196 Pico Far East Holdings, Ltd. 158,000 49,966 Playmates Holdings, Ltd. 26,000 32,680 PNG Resources Holdings, Ltd. 1,048,000 17,418 Polytec Asset Holdings, Ltd. 810,000 103,499 Public Financial Holdings, Ltd. 48,000 25,088 PYI Corp., Ltd. 992,000 24,055 Regal Hotels International Holdings, Ltd. 222,000 121,408 Richfield Group Holdings, Ltd. 664,000 17,717 * Rising Development Holdings, Ltd. 74,000 4,784 SA SA International Holdings, Ltd. 58,000 63,497 Samsonite International SA 66,600 181,618 * Sandmartin International Holdings, Ltd. 6,000 371 SAS Dragon Hldg, Ltd. 56,000 31,593 SEA Holdings, Ltd. 62,000 35,189 Shangri-La Asia, Ltd. 225,666 415,160 Shenyin Wanguo HK, Ltd. 50,000 17,783 * Shougang Concord Technology Holdings 892,000 54,651 Shun Tak Holdings, Ltd. 753,249 436,342 #* Silver base Group Holdings, Ltd. 218,000 36,227 Singamas Container Holdings, Ltd. 636,000 147,614 Sino Land Co., Ltd. 460,823 646,302 Sitoy Group Holdings, Ltd. 21,000 11,524 SJM Holdings, Ltd. 45,000 145,211 # SmarTone Telecommunications Holdings, Ltd. 93,500 123,146 SOCAM Development, Ltd. 81,768 97,237 * Solomon Systech International, Ltd. 1,146,000 52,467 Soundwill Holdings, Ltd. 16,000 28,688 * South China China, Ltd. 480,000 45,946 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- HONG KONG -- (Continued) # Stella International Holdings, Ltd. 42,000 $ 103,668 Stelux Holdings International, Ltd. 162,800 55,441 Sun Hung Kai & Co., Ltd. 219,341 123,478 Sun Hung Kai Properties, Ltd. 75,480 986,745 TAI Cheung Holdings 110,000 83,441 Tao Heung Holdings, Ltd. 66,000 50,628 * Taung Gold International, Ltd. 970,000 19,893 Techtronic Industries Co. 106,500 267,744 Television Broadcasts, Ltd. 48,100 280,911 Texwinca Holdings, Ltd. 90,000 91,948 * Titan Petrochemicals Group, Ltd. 620,000 200 Tongda Group Holdings, Ltd. 940,000 53,354 * Town Health International Investments, Ltd. 76,000 20,005 Tradelink Electronic Commerce, Ltd. 78,000 19,308 Transport International Holdings, Ltd. 48,800 109,891 # Trinity, Ltd. 390,000 145,781 * TSC Group Holdings, Ltd. 197,000 66,844 #* United Laboratories International Holdings, Ltd. (The) 267,000 112,624 * Up Energy Development Group, Ltd. 92,000 5,282 * Value Convergence Holdings, Ltd. 48,000 7,095 Value Partners Group, Ltd. 187,000 113,495 Varitronix International, Ltd. 142,000 126,241 Victory City International Holdings, Ltd. 311,701 43,781 Vitasoy International Holdings, Ltd. 94,000 121,213 VST Holdings, Ltd. 433,200 85,495 VTech Holdings, Ltd. 12,800 182,780 Wang On Group, Ltd. 1,720,000 31,508 Wharf Holdings, Ltd. 72,000 608,682 Wheelock & Co., Ltd. 140,000 716,269 Wing Hang Bank, Ltd. 26,816 380,309 Wing On Co. International, Ltd. 30,000 86,276 Wing Tai Properties, Ltd. 120,000 72,883 Wynn Macau, Ltd. 35,600 135,741 Xinyi Glass Holdings, Ltd. 242,000 239,987 YGM Trading, Ltd. 8,000 18,032 Yue Yuen Industrial Holdings, Ltd. 108,500 297,928 ----------- TOTAL HONG KONG 31,197,896 ----------- IRELAND -- (0.5%) Aer Lingus Group P.L.C. 49,036 93,161 * Anglo Irish Bank Corp. P.L.C. 105,210 -- * Bank of Ireland 3,184,554 1,163,905 * Bank of Ireland Sponsored ADR 10,709 155,602 C&C Group P.L.C. 67,048 392,520 CRH P.L.C. 9,182 223,431 CRH P.L.C. Sponsored ADR 59,771 1,463,194 Dragon Oil P.L.C. 39,592 372,959 * Elan Corp. P.L.C. 4,564 75,807 * Elan Corp. P.L.C. Sponsored ADR 8,300 138,278 FBD Holdings P.L.C. 6,827 147,275 Glanbia P.L.C. 18,121 253,652 IFG Group P.L.C. 7,878 14,940 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- IRELAND -- (Continued) Irish Continental Group P.L.C. 559 $ 19,614 * Kenmare Resources P.L.C. 71,237 22,974 Kerry Group P.L.C. Class A 5,140 329,190 Kingspan Group P.L.C. 31,873 533,039 Paddy Power P.L.C. 3,568 290,648 Smurfit Kappa Group P.L.C. 26,278 636,099 ---------- TOTAL IRELAND 6,326,288 ---------- ISRAEL -- (0.6%) #* Africa Israel Investments, Ltd. 24,617 41,441 * Africa Israel Properties, Ltd. 987 15,371 * Airport City, Ltd. 3,606 31,172 * AL-ROV Israel, Ltd. 1,253 41,579 #* Alon Blue Square Israel, Ltd. 1,554 6,129 Amot Investments, Ltd. 4,033 11,553 * AudioCodes, Ltd. 4,091 24,606 * Azorim-Investment Development & Construction Co., Ltd. 17,486 18,824 Azrieli Group 11,185 358,611 Babylon, Ltd. 6,679 14,282 Bank Hapoalim BM 182,970 979,526 * Bank Leumi Le-Israel BM 183,163 697,202 Bayside Land Corp. 45 11,631 Bezeq The Israeli Telecommunication Corp., Ltd. 83,756 145,626 * Cellcom Israel, Ltd.(B23WQK8) 833 9,699 * Cellcom Israel, Ltd.(M2196U109) 7,780 89,470 * Ceragon Networks, Ltd. 5,455 18,928 * Clal Biotechnology Industries, Ltd. 7,696 16,705 Clal Industries, Ltd. 26,732 119,142 Clal Insurance Enterprises Holdings, Ltd. 9,219 180,671 * Compugen, Ltd. 1,197 11,870 Delek Automotive Systems, Ltd. 4,482 49,695 Delek Group, Ltd. 354 122,237 # Delta-Galil Industries, Ltd. 3,234 76,290 Elbit Systems, Ltd.(M3760D101) 500 26,790 Elbit Systems, Ltd.(6308913) 2,463 131,453 Electra, Ltd. 641 80,781 * Elron Electronic Industries, Ltd. 2,770 20,298 * Evogene, Ltd. 604 4,914 * EZchip Semiconductor, Ltd. 1,999 52,653 First International Bank Of Israel, Ltd. 10,129 166,200 Formula Systems 1985, Ltd. 2,287 59,387 Frutarom Industries, Ltd. 4,837 86,664 * Gilat Satellite Networks, Ltd.(M51474118) 3,025 15,609 * Gilat Satellite Networks, Ltd.(B01BZ39) 4,767 24,333 * Given Imaging, Ltd. 1,795 36,070 Golf & Co., Ltd. 2,258 7,884 * Hadera Paper, Ltd. 615 36,127 Harel Insurance Investments & Financial Services, Ltd. 48,920 286,854 Israel Chemicals, Ltd. 5,296 43,784 * Israel Discount Bank, Ltd. Class A 188,779 376,719 Ituran Location and Control, Ltd. 2,289 41,874 * Jerusalem Oil Exploration 3,646 134,644 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- ISRAEL -- (Continued) * Kamada, Ltd. 5,535 $ 79,885 Matrix IT, Ltd. 6,260 32,934 * Mazor Robotics, Ltd. 7,056 61,880 Meitav DS Investments, Ltd. 436 1,575 Melisron, Ltd. 1,534 40,603 Menorah Mivtachim Holdings, Ltd. 9,352 107,647 Migdal Insurance & Financial Holding, Ltd. 76,210 133,038 Mivtach Shamir 1,364 50,127 Mizrahi Tefahot Bank, Ltd. 35,119 411,661 * Naphtha Israel Petroleum Corp., Ltd. 4,748 30,585 NICE Systems, Ltd. Sponsored ADR 4,369 171,177 * Nitsba Holdings 1995, Ltd. 2,045 28,638 * Nova Measuring Instruments, Ltd. 1,566 13,753 * Oil Refineries, Ltd. 172,152 55,644 * Ormat Industries 16,978 114,779 Osem Investments, Ltd. 1,973 43,523 * Partner Communications Co., Ltd. 2,971 24,395 * Partner Communications Co., Ltd. ADR 10,082 81,866 * Paz Oil Co., Ltd. 688 106,797 Phoenix Holdings, Ltd. (The) 19,525 76,756 Plasson Industries, Ltd. 986 32,657 Rami Levi Chain Stores Hashikma Marketing 2006, Ltd. 1,447 78,300 Shikun & Binui, Ltd. 18,472 44,194 Shufersal, Ltd. 8,735 35,244 Strauss Group, Ltd. 2,188 38,584 Teva Pharmaceutical Industries, Ltd. 395 14,678 Teva Pharmaceutical Industries, Ltd. Sponsored ADR 14,485 537,249 * Tower Semiconductor, Ltd. 4,630 22,557 * Union Bank of Israel 5,193 23,284 ---------- TOTAL ISRAEL 7,219,308 ---------- ITALY -- (2.2%) A2A SpA 119,440 134,390 ACEA SpA 7,397 76,966 Aeroporto di Venezia Marco Polo SpA--SAVE 5,671 102,798 Alerion Cleanpower SpA 2,833 13,780 Amplifon SpA 10,160 54,165 Ansaldo STS SpA 17,257 183,120 * Arnoldo Mondadori Editore SpA 50,302 107,303 Ascopiave SpA 8,381 18,322 Assicurazioni Generali SpA 17,834 416,941 Astaldi SpA 14,297 139,276 Atlantia SpA 6,025 132,051 * Autogrill SpA 9,277 83,277 Azimut Holding SpA 12,825 325,334 #* Banca Carige SpA 229,239 183,291 Banca Generali SpA 4,782 124,836 Banca IFIS SpA 3,017 45,286 #* Banca Monte dei Paschi di Siena SpA 1,340,570 422,650 * Banca Piccolo Credito Valtellinese Scarl 87,870 157,245 * Banca Popolare dell'Emilia Romagna S.c.r.l. 119,583 1,148,872 #* Banca Popolare dell'Etruria e del Lazio 3,028 2,825 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- ITALY -- (Continued) #* Banca Popolare di Milano Scarl 969,656 $ 647,732 Banca Popolare di Sondrio Scarl 77,768 447,613 Banca Profilo SpA 35,778 11,954 Banco di Desio e della Brianza SpA 6,850 21,506 * Banco Popolare 610,218 1,212,252 * BasicNet SpA 6,641 17,317 Brembo SpA 6,992 184,927 * Brioschi Sviluppo Immobiliare SpA 10,866 1,290 Brunello Cucinelli SpA 1,208 37,651 # Buzzi Unicem SpA 19,503 337,663 Cairo Communication SpA 3,024 21,168 * Caltagirone Editore SpA 8,964 14,547 Cementir Holding SpA 24,433 112,462 * CIR-Compagnie Industriali Riunite SpA 179,295 298,235 * CNH Industrial NV 17,446 206,316 Credito Bergamasco SpA 474 9,123 Credito Emiliano SpA 20,701 156,501 * d'Amico International Shipping SA 22,435 19,396 # Danieli & C Officine Meccaniche SpA 1,971 60,584 Datalogic SpA 3,058 33,204 Davide Campari-Milano SpA 23,376 203,721 De'Longhi SpA 4,556 70,358 * DeA Capital SpA 23,209 44,119 # DiaSorin SpA 2,898 137,154 Ei Towers SpA 2,079 86,913 Enel Green Power SpA 41,759 101,581 Engineering SpA 729 39,703 Eni SpA 16,556 420,306 # Eni SpA Sponsored ADR 10,306 523,545 ERG SpA 21,638 264,243 Esprinet SpA 7,746 56,308 * Eurotech SpA 5,432 13,985 * Falck Renewables SpA 38,352 65,310 * Fiat SpA 160,059 1,255,940 #* Finmeccanica SpA 133,809 980,554 * Fondiaria-Sai SpA 148,937 381,587 * Gemina SpA 123,796 300,351 # Geox SpA 19,867 54,401 * Gruppo Editoriale L'Espresso SpA 25,443 50,698 Gtech Spa 7,064 214,527 # Hera SpA 57,946 116,747 * IMMSI SpA 51,070 31,531 Indesit Co. SpA 16,201 167,315 Industria Macchine Automatiche SpA 1,827 62,606 * Intek Group SpA 36,247 15,642 Interpump Group SpA 13,850 154,025 Intesa Sanpaolo SpA 492,082 1,220,793 Iren SpA 102,452 153,184 Italcementi SpA 38,143 339,224 * Italmobiliare SpA 2,371 77,313 #* Juventus Football Club SpA 18,350 5,966 #* Landi Renzo SpA 7,410 12,489 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- ITALY -- (Continued) Luxottica Group SpA 2,382 $ 129,036 Luxottica Group SpA Sponsored ADR 300 16,161 MARR SpA 1,671 26,275 * Mediaset SpA 138,218 690,217 Mediobanca SpA 90,740 826,771 Mediolanum SpA 13,332 116,020 * Milano Assicurazioni SpA 239,825 204,601 Parmalat SpA 66,960 225,221 Piaggio & C SpA 49,378 142,492 # Pirelli & C. SpA 18,964 266,768 * Poltrona Frau SpA 2,894 9,521 * Prelios SpA 12,061 10,267 * Premafin Finanziaria SpA 32,033 7,288 Prysmian SpA 29,226 713,908 #* RCS MediaGroup SpA 2,140 4,708 Recordati SpA 15,925 209,183 Reply SpA 890 57,945 #* Retelit SpA 33,446 25,169 Sabaf SpA 760 13,689 * Safilo Group SpA 16,356 334,380 Saipem SpA 2,928 68,495 Salvatore Ferragamo Italia SpA 1,171 40,088 #* Saras SpA 80,787 99,993 * Snai SpA 235 324 Societa Cattolica di Assicurazioni S.c.r.l. 17,342 439,044 Societa Iniziative Autostradali e Servizi SpA 15,785 165,367 Societa per la Bonifica dei Terreni Ferraresi e Imprese Agricole SpA 214 10,261 Sogefi SpA 8,308 47,247 SOL SpA 6,059 45,764 * Sorin SpA 79,381 218,694 Telecom Italia SpA 644,816 629,048 Telecom Italia SpA Sponsored ADR 32,914 321,241 Tenaris SA ADR 2,700 126,387 Terna Rete Elettrica Nazionale SpA 29,639 146,724 Tod's SpA 859 142,947 Trevi Finanziaria Industriale SpA 13,654 125,538 UniCredit SpA 199,530 1,497,789 Unione di Banche Italiane SCPA 368,830 2,549,144 Unipol Gruppo Finanziario SpA 95,737 507,632 Vianini Lavori SpA 1,509 8,688 Vittoria Assicurazioni SpA 9,400 111,712 * World Duty Free SpA 9,277 102,782 * Yoox SpA 4,178 150,301 Zignago Vetro SpA 2,758 17,703 ----------- TOTAL ITALY 26,948,841 ----------- JAPAN -- (20.3%) 77 Bank, Ltd. (The) 110,000 544,045 A&D Co., Ltd. 9,700 63,297 A.S. One Corp. 4,500 99,351 ABC-Mart, Inc. 1,100 55,012 Accordia Golf Co., Ltd. 31,300 343,524 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- JAPAN -- (Continued) Achilles Corp. 49,000 $ 81,314 Adastria Holdings Co., Ltd. 1,680 78,677 ADEKA Corp. 33,100 389,211 Aderans Co., Ltd. 3,200 39,204 Advan Co., Ltd. 2,600 32,028 # Advantest Corp. 11,300 135,238 # Advantest Corp. ADR 1,800 22,140 Aeon Co., Ltd. 32,200 439,415 Aeon Fantasy Co., Ltd. 3,600 56,366 * Agora Hospitality Group Co., Ltd. 34,000 18,320 Ahresty Corp. 5,400 42,843 Ai Holdings Corp. 7,700 98,670 Aica Kogyo Co., Ltd. 5,800 118,736 Aichi Bank, Ltd. (The) 3,600 163,609 Aichi Corp. 16,200 85,650 Aichi Steel Corp. 45,000 230,663 Aichi Tokei Denki Co., Ltd. 17,000 49,704 Aida Engineering, Ltd. 19,100 184,631 * Aigan Co., Ltd. 4,200 12,018 Ain Pharmaciez, Inc. 2,300 99,768 Aiphone Co., Ltd. 4,600 75,339 Air Water, Inc. 5,000 71,471 Airport Facilities Co., Ltd. 6,100 53,358 Aisan Industry Co., Ltd. 12,000 120,884 Aisin Seiki Co., Ltd. 4,500 182,810 Aizawa Securities Co., Ltd. 20,900 142,259 Ajinomoto Co., Inc. 26,000 363,819 Akita Bank, Ltd. (The) 66,000 165,707 Alconix Corp. 1,000 20,622 Alfresa Holdings Corp. 12,200 666,806 Alinco, Inc. 2,900 27,769 Allied Telesis Holdings KK 20,700 19,821 Alpen Co., Ltd. 7,400 153,997 Alpha Corp. 1,500 15,916 Alpha Systems, Inc. 1,560 21,340 Alpine Electronics, Inc. 20,100 243,337 * Alps Electric Co., Ltd. 50,300 441,411 Alps Logistics Co., Ltd. 2,000 20,132 Altech Corp. 600 6,437 # Amada Co., Ltd. 101,000 868,860 Amano Corp. 23,200 227,294 Amiyaki Tei Co., Ltd. 600 21,736 Amuse, Inc. 1,900 36,184 Anest Iwata Corp. 7,000 34,318 Anritsu Corp. 6,000 78,671 AOI Electronic Co., Ltd. 1,000 15,134 AOKI Holdings, Inc. 5,139 170,942 Aomori Bank, Ltd. (The) 75,000 195,625 Aoyama Trading Co., Ltd. 21,800 555,849 Aozora Bank, Ltd. 59,000 171,515 Arakawa Chemical Industries, Ltd. 4,000 40,179 Arata Corp. 11,000 38,941 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- JAPAN -- (Continued) Araya Industrial Co., Ltd. 17,000 $ 30,912 Arcland Sakamoto Co., Ltd. 7,400 110,546 Arcs Co., Ltd. 15,789 295,949 Argo Graphics, Inc. 1,000 16,388 Ariake Japan Co., Ltd. 3,200 77,412 Arisawa Manufacturing Co., Ltd. 11,600 78,341 #* Arnest One Corp. 4,000 109,834 # Artnature, Inc. 200 4,269 Asahi Broadcasting Corp. 2,200 15,093 # Asahi Co., Ltd. 2,700 45,768 Asahi Diamond Industrial Co., Ltd. 20,900 202,889 Asahi Glass Co., Ltd. 162,000 1,000,516 # Asahi Group Holdings, Ltd. 4,300 116,291 Asahi Holdings, Inc. 10,000 164,864 Asahi Kasei Corp. 20,000 152,212 # Asahi Kogyosha Co., Ltd. 4,000 14,367 Asahi Organic Chemicals Industry Co., Ltd. 20,000 44,880 #* Asanuma Corp. 30,000 49,375 Asatsu-DK, Inc. 13,200 362,760 #* Ashimori Industry Co., Ltd. 19,000 25,376 Asics Corp. 5,000 88,153 ASKA Pharmaceutical Co., Ltd. 5,000 37,107 # ASKUL Corp. 800 25,598 Astellas Pharma, Inc. 1,500 83,620 Asunaro Aoki Construction Co., Ltd. 3,500 20,459 Atsugi Co., Ltd. 40,000 47,324 Autobacs Seven Co., Ltd. 26,300 383,466 # Avex Group Holdings, Inc. 3,700 93,756 Awa Bank, Ltd. (The) 82,000 428,241 Axell Corp. 1,500 28,650 Axial Retailing, Inc. 3,000 48,809 Azbil Corp. 17,400 419,247 Bando Chemical Industries, Ltd. 28,000 109,250 # Bank of Iwate, Ltd. (The) 6,900 313,370 Bank of Kyoto, Ltd. (The) 97,000 854,696 Bank of Nagoya, Ltd. (The) 57,000 195,475 Bank of Okinawa, Ltd. (The) 7,000 270,934 Bank of Saga, Ltd. (The) 58,000 124,636 Bank of the Ryukyus, Ltd. 16,000 174,607 Bank of Yokohama, Ltd. (The) 183,000 1,009,112 Belc Co., Ltd. 3,000 54,580 Belluna Co., Ltd. 22,200 117,868 # Benesse Holdings, Inc. 2,700 100,634 # Best Bridal, Inc. 1,000 7,043 * Best Denki Co., Ltd. 22,500 35,121 # Bic Camera, Inc. 191 93,906 Bit-isle, Inc. 4,600 39,452 BML, Inc. 4,500 153,753 # Bookoff Corp. 2,500 16,789 Bridgestone Corp. 4,900 167,985 Brother Industries, Ltd. 23,900 271,559 Bunka Shutter Co., Ltd. 22,000 123,355 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- JAPAN -- (Continued) C Uyemura & Co., Ltd. 200 $ 8,478 CAC Corp. 5,800 51,553 Calbee, Inc. 2,000 52,479 Calsonic Kansei Corp. 67,000 322,120 Canon Electronics, Inc. 6,500 121,492 Canon Marketing Japan, Inc. 18,500 247,841 Canon, Inc. 21,300 672,157 * Carlit Holdings Co., Ltd. 3,400 17,096 # Casio Computer Co., Ltd. 18,200 174,200 Cawachi, Ltd. 7,000 131,665 Central Glass Co., Ltd. 81,000 281,707 # Central Sports Co., Ltd. 900 14,020 Century Tokyo Leasing Corp. 6,900 218,283 Chiba Bank, Ltd. (The) 114,000 812,691 * Chiba Kogyo Bank, Ltd. (The) 22,100 168,445 Chino Corp. 4,000 9,336 Chiyoda Co., Ltd. 7,000 153,643 Chiyoda Corp. 7,000 88,769 Chiyoda Integre Co., Ltd. 5,500 95,254 Chofu Seisakusho Co., Ltd. 200 4,629 Chori Co., Ltd. 4,700 56,200 Chubu Shiryo Co., Ltd. 5,000 29,089 Chuetsu Pulp & Paper Co., Ltd. 22,000 35,640 * Chugai Mining Co., Ltd. 5,700 1,976 Chugai Pharmaceutical Co., Ltd. 2,200 51,692 # Chugai Ro Co., Ltd. 13,000 34,023 Chugoku Bank, Ltd. (The) 46,000 661,318 Chugoku Marine Paints, Ltd. 26,000 148,525 Chukyo Bank, Ltd. (The) 29,000 52,311 Chuo Denki Kogyo Co., Ltd. 3,100 10,498 Chuo Spring Co., Ltd. 5,000 15,629 # Citizen Holdings Co., Ltd. 72,400 516,547 CKD Corp. 22,300 207,011 #* Clarion Co., Ltd. 30,000 40,125 Cleanup Corp. 6,800 59,666 # CMIC Holdings Co., Ltd. 3,200 43,993 CMK Corp. 12,800 36,886 Coca-Cola Central Japan Co., Ltd. 12,972 229,742 Coca-Cola West Co., Ltd. 20,300 411,745 Cocokara fine, Inc. 6,500 185,148 Computer Engineering & Consulting, Ltd. 1,700 10,823 COMSYS Holdings Corp. 23,100 320,713 CONEXIO Corp. 3,700 31,828 Corona Corp. 5,000 56,461 Cosel Co., Ltd. 4,900 61,349 #* Cosmo Oil Co., Ltd. 200,000 352,162 Cosmos Pharmaceutical Corp. 500 60,915 CREATE SD HOLDINGS Co., Ltd. 1,000 36,454 # Credit Saison Co., Ltd. 14,200 388,660 CTI Engineering Co., Ltd. 2,100 18,928 Dai Nippon Printing Co., Ltd. 86,000 903,513 Dai Nippon Toryo Co., Ltd. 49,000 83,134 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- JAPAN -- (Continued) Dai-Dan Co., Ltd. 4,000 $ 21,377 Dai-Ichi Kogyo Seiyaku Co., Ltd. 11,000 27,208 Dai-ichi Life Insurance Co., Ltd. (The) 37,600 536,770 # Dai-ichi Seiko Co., Ltd. 5,200 79,767 Daibiru Corp. 21,400 272,713 Daicel Corp. 51,000 429,868 Daido Kogyo Co., Ltd. 22,000 63,208 Daido Metal Co., Ltd. 11,000 115,392 # Daido Steel Co., Ltd. 44,000 253,016 Daidoh, Ltd. 4,600 31,481 #* Daiei, Inc. (The) 41,450 143,720 Daifuku Co., Ltd. 28,500 366,492 Daihatsu Motor Co., Ltd. 3,000 58,249 Daihen Corp. 34,000 145,267 # Daiho Corp. 50,000 187,842 Daiichi Jitsugyo Co., Ltd. 11,000 47,177 Daiichi Kigenso Kagaku-Kogyo Co., Ltd. 700 21,281 Daiichi Sankyo Co., Ltd. 12,800 237,324 Daiichikosho Co., Ltd. 3,100 88,584 Daiken Corp. 20,000 54,468 Daiki Aluminium Industry Co., Ltd. 10,000 28,152 # Daiki Ataka Engineering Co., Ltd. 9,000 43,309 # Daikin Industries, Ltd. 3,000 172,600 Daiko Clearing Services Corp. 4,200 29,090 Daikoku Denki Co., Ltd. 3,300 72,367 # Daikokutenbussan Co., Ltd. 400 12,003 Daikyo, Inc. 88,000 273,359 Dainichiseika Color & Chemicals Manufacturing Co., Ltd. 21,000 87,352 * Dainippon Screen Manufacturing Co., Ltd. 6,000 34,485 Dainippon Sumitomo Pharma Co., Ltd. 9,900 133,215 # Daio Paper Corp. 39,000 288,745 Daisan Bank, Ltd. (The) 40,000 65,556 Daiseki Co., Ltd. 5,400 106,055 Daishi Bank, Ltd. (The) 129,000 450,363 Daishinku Corp. 20,000 75,685 Daiso Co., Ltd. 25,000 75,875 Daisyo Corp. 2,000 26,382 Daito Bank, Ltd. (The) 39,000 40,990 Daito Electron Co., Ltd. 1,200 5,019 Daito Pharmaceutical Co., Ltd. 2,400 34,579 Daito Trust Construction Co., Ltd. 1,500 153,156 # Daiwa House Industry Co., Ltd. 19,000 380,642 Daiwa Securities Group, Inc. 153,447 1,401,550 Daiwabo Holdings Co., Ltd. 83,000 159,060 DC Co., Ltd. 3,400 24,898 DCM Holdings Co., Ltd. 33,400 233,364 # Dena Co., Ltd. 4,300 93,698 Denki Kagaku Kogyo KK 136,000 570,348 Denki Kogyo Co., Ltd. 14,000 92,748 Denso Corp. 6,000 288,411 Dentsu, Inc. 3,000 113,347 Denyo Co., Ltd. 5,100 62,827 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- JAPAN -- (Continued) Descente, Ltd. 14,000 $102,448 # DIC Corp. 46,000 133,176 # Disco Corp. 1,700 107,429 DMG Mori Seiki Co., Ltd. 28,400 460,705 Don Quijote Co., Ltd. 600 39,940 Doshisha Co., Ltd. 10,000 145,035 Doutor Nichires Holdings Co., Ltd. 12,000 217,955 # Dowa Holdings Co., Ltd. 14,000 132,129 # Dr Ci:Labo Co., Ltd. 4 13,239 Dream Incubator, Inc. 21 37,363 DTS Corp. 6,800 116,426 Dunlop Sports Co., Ltd. 4,200 52,277 Duskin Co., Ltd. 20,200 410,584 Dynic Corp. 5,000 8,833 Eagle Industry Co., Ltd. 6,000 96,420 Earth Chemical Co., Ltd. 100 3,715 Ebara Corp. 90,000 483,869 Ebara Jitsugyo Co., Ltd. 2,400 32,802 # EDION Corp. 32,500 162,692 Ehime Bank, Ltd. (The) 47,000 113,062 Eidai Co., Ltd. 8,000 43,537 Eighteenth Bank, Ltd. (The) 55,000 126,693 Eiken Chemical Co., Ltd. 4,400 81,670 Eizo Corp. 8,100 199,324 Elecom Co., Ltd. 2,400 34,071 Elematec Corp. 2,574 37,477 Emori & Co., Ltd. 2,100 34,835 # Endo Lighting Corp. 3,800 87,594 # Enplas Corp. 900 59,333 * Enshu, Ltd. 12,000 19,643 # EPS Corp. 30 31,173 ESPEC Corp. 5,400 42,050 Excel Co., Ltd. 1,700 20,210 Exedy Corp. 12,700 377,194 Ezaki Glico Co., Ltd. 19,000 211,086 F-Tech, Inc. 1,200 20,946 Faith, Inc. 1,760 18,522 FALCO SD HOLDINGS Co., Ltd. 400 5,224 FamilyMart Co., Ltd. 2,200 98,553 Fancl Corp. 14,600 173,626 FCC Co., Ltd. 9,600 219,311 # Ferrotec Corp. 17,400 85,543 FIDEA Holdings Co., Ltd. 57,800 114,023 Fields Corp. 5,100 90,365 * First Baking Co., Ltd. 4,000 6,318 First Juken Co., Ltd. 600 9,209 Foster Electric Co., Ltd. 8,900 174,133 FP Corp. 1,200 92,724 France Bed Holdings Co., Ltd. 30,000 62,140 * Fudo Tetra Corp. 38,700 75,050 Fuji Co. Ltd/Ehime 3,700 66,584 Fuji Corp., Ltd. 7,200 49,356 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- JAPAN -- (Continued) Fuji Electric Co., Ltd. 59,000 $264,492 # Fuji Electronics Co., Ltd. 4,900 67,142 Fuji Furukawa Engineering & Construction Co., Ltd. 2,000 5,005 Fuji Kiko Co., Ltd. 11,000 37,797 Fuji Kosan Co., Ltd. 100 639 Fuji Media Holdings, Inc. 7,300 145,528 Fuji Oil Co. Ltd/Osaka 12,300 224,165 Fuji Oil Co., Ltd. 16,900 60,653 Fuji Pharma Co., Ltd. 700 12,445 Fuji Seal International, Inc. 4,800 144,842 Fuji Soft, Inc. 8,200 163,036 Fujibo Holdings, Inc. 35,000 71,319 Fujicco Co., Ltd. 5,000 62,099 FUJIFILM Holdings Corp. 21,700 530,863 Fujikura Kasei Co., Ltd. 7,100 38,719 Fujikura, Ltd. 145,000 661,658 Fujimi, Inc. 8,800 118,232 Fujimori Kogyo Co., Ltd. 4,800 142,875 Fujitec Co., Ltd. 21,000 258,226 Fujitsu Frontech, Ltd. 3,600 29,547 Fujitsu General, Ltd. 7,000 84,814 * Fujitsu, Ltd. 137,000 588,580 Fujiya Co., Ltd. 16,000 31,602 FuKoKu Co., Ltd. 1,100 9,388 Fukuda Corp. 10,000 41,473 Fukui Bank, Ltd. (The) 66,000 143,942 Fukuoka Financial Group, Inc. 132,000 595,380 Fukushima Bank, Ltd. (The) 93,000 82,535 Fukushima Industries Corp. 3,300 44,365 # Fukuyama Transporting Co., Ltd. 57,000 364,332 Funai Consulting, Inc. 3,700 29,557 Furukawa Battery Co., Ltd. 2,000 11,291 Furukawa Co., Ltd. 102,000 212,646 # Furukawa Electric Co., Ltd. 297,000 688,380 Furuno Electric Co., Ltd. 10,300 67,274 Furusato Industries, Ltd. 600 6,215 Furuya Metal Co., Ltd. 400 10,893 Fuso Pharmaceutical Industries, Ltd. 26,000 82,918 * Futaba Industrial Co., Ltd. 28,500 106,186 Fuyo General Lease Co., Ltd. 4,300 178,395 G-Tekt Corp. 4,100 121,193 # Gakken Holdings Co., Ltd. 14,000 43,220 Gecoss Corp. 5,100 39,384 # Geo Holdings Corp. 15,700 146,354 GLOBERIDE, Inc. 43,000 73,292 Glory, Ltd. 22,200 550,491 Godo Steel, Ltd. 57,000 104,789 Goldcrest Co., Ltd. 15,790 422,443 Goldwin, Inc. 7,000 33,375 # Gourmet Kineya Co., Ltd. 7,000 48,376 # Gree, Inc. 11,900 102,346 GS Yuasa Corp. 30,000 180,190 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- JAPAN -- (Continued) GSI Creos Corp. 26,000 $ 38,720 Gulliver International Co., Ltd. 9,200 54,855 # Gun-Ei Chemical Industry Co., Ltd. 20,000 98,989 Gunma Bank, Ltd. (The) 109,000 630,692 Gunze, Ltd. 53,000 141,549 # Gurunavi, Inc. 2,200 47,488 H-One Co., Ltd. 3,100 31,622 H2O Retailing Corp. 35,000 297,414 Hachijuni Bank, Ltd. (The) 114,000 704,245 # Hagihara Industries, Inc. 700 9,550 Hakudo Co., Ltd. 1,500 12,254 Hakuhodo DY Holdings, Inc. 32,300 249,814 Hakuto Co., Ltd. 4,200 40,614 Hamakyorex Co., Ltd. 2,600 71,937 Hamamatsu Photonics KK 5,400 202,065 Hankyu Hanshin Holdings, Inc. 66,000 370,184 Hanwa Co., Ltd. 81,000 376,868 Happinet Corp. 2,800 21,092 Hard Off Corp. Co., Ltd. 1,800 13,614 Harima Chemicals Group, Inc. 2,100 10,408 Haruyama Trading Co., Ltd. 300 2,060 * Haseko Corp. 18,500 137,124 # Hazama Ando Corp. 52,350 193,428 Heiwa Corp. 12,100 202,872 Heiwa Real Estate Co., Ltd. 25,400 460,061 Heiwado Co., Ltd. 12,700 198,061 HI-LEX Corp. 4,700 101,284 Hibiya Engineering, Ltd. 6,300 76,637 Hiday Hidaka Corp. 2,280 48,763 Higashi Nihon House Co., Ltd. 9,000 48,112 Higashi-Nippon Bank, Ltd. (The) 52,000 114,761 Higo Bank, Ltd. (The) 67,000 381,401 Hikari Tsushin, Inc. 1,600 118,553 Himaraya Co., Ltd. 900 12,888 Hino Motors, Ltd. 8,000 113,036 Hioki EE Corp. 3,100 44,262 # Hiroshima Bank, Ltd. (The) 150,000 638,387 Hisaka Works, Ltd. 7,000 62,808 Hisamitsu Pharmaceutical Co., Inc. 1,400 75,755 Hitachi Capital Corp. 14,300 384,602 Hitachi Chemical Co., Ltd. 9,600 147,281 Hitachi Construction Machinery Co., Ltd. 10,300 218,139 Hitachi High-Technologies Corp. 6,900 158,700 Hitachi Koki Co., Ltd. 21,900 160,533 Hitachi Kokusai Electric, Inc. 2,000 26,869 Hitachi Medical Corp. 9,000 125,941 # Hitachi Metals, Ltd. 16,110 216,931 # Hitachi Transport System, Ltd. 19,900 315,554 Hitachi Zosen Corp. 24,800 197,193 Hitachi, Ltd. 49,000 342,760 Hitachi, Ltd. ADR 4,900 341,628 Hodogaya Chemical Co., Ltd. 23,000 47,417 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- JAPAN -- (Continued) Hogy Medical Co., Ltd. 3,500 $203,649 * Hokkaido Electric Power Co., Inc. 7,700 99,192 # Hokkaido Gas Co., Ltd. 1,000 2,704 Hokkan Holdings, Ltd. 8,000 25,284 Hokko Chemical Industry Co., Ltd. 2,000 6,054 Hokkoku Bank, Ltd. (The) 120,000 443,502 Hokuetsu Bank, Ltd. (The) 79,000 163,843 # Hokuetsu Kishu Paper Co., Ltd. 47,500 221,318 Hokuhoku Financial Group, Inc. 328,000 676,320 Hokuriku Electric Industry Co., Ltd. 29,000 40,577 Hokuriku Electric Power Co. 8,500 121,069 # Hokuto Corp. 9,000 172,655 Honda Motor Co., Ltd. 16,923 675,784 Honda Motor Co., Ltd. Sponsored ADR 14,859 593,766 # Honeys Co., Ltd. 8,070 88,491 Horiba, Ltd. 11,000 401,945 Hoshizaki Electric Co., Ltd. 2,800 102,606 Hosiden Corp. 27,900 152,497 Hosokawa Micron Corp. 17,000 120,960 House Foods Group, Inc. 21,800 345,304 Howa Machinery, Ltd. 7,500 68,548 Hoya Corp. 11,500 275,763 # Hyakugo Bank, Ltd. (The) 102,000 414,760 Hyakujushi Bank, Ltd. (The) 114,000 415,426 I-Net Corp/Kanagawa 7,000 51,358 # Ibiden Co., Ltd. 32,800 568,603 IBJ Leasing Co., Ltd. 5,200 146,423 Ichibanya Co., Ltd. 400 17,109 # Ichigo Group Holdings Co., Ltd. 12,000 49,773 * Ichikoh Industries, Ltd. 11,000 21,091 ICHINEN HOLDINGS Co., Ltd. 6,000 42,884 Idec Corp. 6,900 61,958 Idemitsu Kosan Co., Ltd. 5,800 485,537 # Ihara Chemical Industry Co., Ltd. 10,000 75,178 IHI Corp. 47,000 199,012 Iino Kaiun Kaisha, Ltd. 29,000 190,985 * IJT Technology Holdings Co., Ltd. 3,000 16,079 * Ikegami Tsushinki Co., Ltd. 10,000 10,834 # Imasen Electric Industrial 6,500 91,987 # Imperial Hotel, Ltd. 400 9,798 Inaba Denki Sangyo Co., Ltd. 9,800 295,006 Inaba Seisakusho Co., Ltd. 1,600 20,789 Inabata & Co., Ltd. 17,000 166,730 Inageya Co., Ltd. 3,800 39,237 Ines Corp. 16,800 111,267 Infocom Corp. 3,000 26,450 Information Services International-Dentsu, Ltd. 2,900 32,729 Innotech Corp. 4,400 20,293 Inpex Corp. 25,600 295,730 Intage, Inc. 1,000 13,202 Internet Initiative Japan, Inc. 2,000 56,131 #* Inui Steamship Co., Ltd. 15,700 61,691 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- JAPAN -- (Continued) # Inui Warehouse Co., Ltd. 1,600 $ 16,386 Iriso Electronics Co., Ltd. 1,800 70,941 Ise Chemical Corp. 3,000 25,929 Iseki & Co., Ltd. 51,000 165,821 Isetan Mitsukoshi Holdings, Ltd. 33,700 510,730 * Ishihara Sangyo Kaisha, Ltd. 145,000 134,488 Ishii Iron Works Co., Ltd. 7,000 20,287 Isuzu Motors, Ltd. 45,000 280,241 IT Holdings Corp. 32,700 469,716 Itfor, Inc. 3,200 13,220 Ito En, Ltd. 1,400 31,465 ITOCHU Corp. 66,600 800,808 Itochu Enex Co., Ltd. 20,800 113,344 # Itochu Techno-Solutions Corp. 3,400 133,382 Itochu-Shokuhin Co., Ltd. 1,600 52,959 Itoham Foods, Inc. 69,000 290,857 Itoki Corp. 13,453 68,221 Iwai Cosmo Holdings, Inc. 6,600 82,791 Iwaki & Co., Ltd. 3,000 6,662 #* Iwasaki Electric Co., Ltd. 40,000 84,811 Iwatani Corp. 50,000 230,277 Iwatsu Electric Co., Ltd. 30,000 30,334 Iyo Bank, Ltd. (The) 52,000 542,968 Izumi Co., Ltd. 2,600 84,562 Izumiya Co., Ltd. 20,000 94,438 * Izutsuya Co., Ltd. 62,000 55,562 J Front Retailing Co., Ltd. 79,000 614,730 J-Oil Mills, Inc. 39,000 123,209 #* Janome Sewing Machine Co., Ltd. 66,000 55,125 # Japan Airport Terminal Co., Ltd. 11,400 276,416 Japan Aviation Electronics Industry, Ltd. 16,000 161,081 Japan Digital Laboratory Co., Ltd. 7,600 90,709 Japan Exchange Group, Inc. 6,000 139,489 Japan Pulp & Paper Co., Ltd. 21,000 67,831 * Japan Radio Co., Ltd. 24,000 90,520 Japan Steel Works, Ltd. (The) 12,000 67,038 Japan Transcity Corp. 11,000 36,564 Japan Vilene Co., Ltd. 6,000 34,621 Japan Wool Textile Co., Ltd. (The) 17,000 133,906 # JBCC Holdings, Inc. 6,000 55,752 JFE Holdings, Inc. 22,460 510,621 JGC Corp. 2,000 76,528 Jimoto Holdings, Inc. 23,500 51,634 JK Holdings Co., Ltd. 2,200 13,626 JMS Co., Ltd. 7,000 22,833 Joshin Denki Co., Ltd. 10,000 81,426 Jowa Holdings Co., Ltd. 3,700 110,773 Joyo Bank, Ltd. (The) 104,000 540,191 # JSP Corp. 5,600 89,079 JSR Corp. 6,600 125,717 JTEKT Corp. 22,400 287,577 #* Juki Corp. 17,000 32,102 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- JAPAN -- (Continued) Juroku Bank, Ltd. (The) 111,000 $434,595 * Justsystems Corp. 7,800 75,162 JVC Kenwood Corp. 57,470 112,567 JX Holdings, Inc. 101,670 502,724 K's Holdings Corp. 13,080 384,066 # Kadokawa Corp. 6,000 218,904 Kaga Electronics Co., Ltd. 7,500 75,461 # Kagome Co., Ltd. 11,200 194,350 Kagoshima Bank, Ltd. (The) 59,000 397,148 Kajima Corp. 50,843 215,793 Kakaku.com, Inc. 4,000 77,365 Kaken Pharmaceutical Co., Ltd. 8,000 124,933 Kameda Seika Co., Ltd. 1,400 41,323 Kamei Corp. 8,000 59,570 Kamigumi Co., Ltd. 71,000 617,584 Kanagawa Chuo Kotsu Co., Ltd. 7,000 36,161 Kanamoto Co., Ltd. 8,000 216,091 Kandenko Co., Ltd. 44,000 278,026 Kaneka Corp. 79,000 501,297 Kanematsu Corp. 157,000 212,965 Kanematsu Electronics, Ltd. 3,000 39,074 # Kansai Paint Co., Ltd. 14,000 188,116 Kansai Super Market Ltd. 1,900 17,363 Kansai Urban Banking Corp. 103,000 122,757 #* Kanto Denka Kogyo Co., Ltd. 21,000 44,873 Kanto Natural Gas Development, Ltd. 12,000 84,605 Kasai Kogyo Co., Ltd. 8,000 48,537 Kasumi Co., Ltd. 13,600 83,910 Katakura Industries Co., Ltd. 9,800 116,267 Kato Sangyo Co., Ltd. 9,200 188,857 Kato Works Co., Ltd. 19,000 130,269 KAWADA TECHNOLOGIES, Inc. 1,000 29,753 # Kawai Musical Instruments Manufacturing Co., Ltd. 36,000 67,910 # Kawasaki Heavy Industries, Ltd. 48,000 187,561 Kawasaki Kisen Kaisha, Ltd. 248,000 568,522 Kawasumi Laboratories, Inc. 5,000 32,508 KDDI Corp. 4,600 249,120 Keihan Electric Railway Co., Ltd. 43,000 176,888 Keihanshin Building Co., Ltd. 23,500 129,866 Keihin Co. Ltd/Minato-Ku Tokyo Japan 17,000 32,292 # Keihin Corp. 18,000 294,087 Keiyo Bank, Ltd. (The) 90,000 458,346 # Keiyo Co., Ltd. 10,800 50,787 Kenko Mayonnaise Co., Ltd. 900 8,170 Kewpie Corp. 8,500 127,891 KEY Coffee, Inc. 7,600 120,363 # Kikkoman Corp. 10,000 182,256 Kimoto Co., Ltd. 9,900 112,253 Kimura Chemical Plants Co., Ltd. 800 4,452 Kinden Corp. 23,000 252,604 Kinki Sharyo Co., Ltd. 7,000 21,398 Kintetsu World Express, Inc. 4,500 171,754 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- JAPAN -- (Continued) Kinugawa Rubber Industrial Co., Ltd. 23,000 $126,945 Kirin Holdings Co., Ltd. 16,680 243,786 Kisoji Co., Ltd. 2,500 46,137 Kita-Nippon Bank, Ltd. (The) 2,200 54,149 Kitagawa Iron Works Co., Ltd. 47,000 98,692 Kitano Construction Corp. 17,000 40,186 Kito Corp. 1,200 18,922 Kitz Corp. 37,300 160,726 * Kiyo Bank Ltd (The) 19,500 259,194 #* KLab, Inc. 5,400 43,430 Koa Corp. 12,800 120,342 Koatsu Gas Kogyo Co., Ltd. 8,000 44,477 Kobayashi Pharmaceutical Co., Ltd. 1,700 95,185 * Kobe Steel, Ltd. 378,000 667,688 # Kohnan Shoji Co., Ltd. 11,500 120,969 Kohsoku Corp. 200 1,911 Koito Manufacturing Co., Ltd. 7,000 127,426 #* Kojima Co., Ltd. 9,400 26,114 Kokuyo Co., Ltd. 34,200 261,723 # KOMAIHALTEC, Inc. 12,000 39,836 Komatsu Seiren Co., Ltd. 5,000 26,583 Komatsu, Ltd. 11,000 241,344 Komeri Co., Ltd. 13,300 324,798 Konaka Co., Ltd. 8,700 77,630 Konami Corp. 10,900 263,425 Konami Corp. ADR 200 4,838 Kondotec, Inc. 3,100 23,654 Konica Minolta, Inc. 77,500 641,773 Konishi Co., Ltd. 7,000 141,080 # Kose Corp. 8,900 260,101 Kosei Securities Co., Ltd. 10,000 26,768 Krosaki Harima Corp. 35,000 86,742 KRS Corp. 1,700 18,617 KU Holdings Co., Ltd. 400 5,317 #* Kumagai Gumi Co., Ltd. 81,000 249,277 Kumiai Chemical Industry Co., Ltd. 18,000 133,615 Kura Corp. 3,600 58,360 Kurabo Industries, Ltd. 68,000 118,602 Kuraray Co., Ltd. 11,200 131,503 Kureha Corp. 44,000 169,686 Kurimoto, Ltd. 43,000 122,552 # Kurita Water Industries, Ltd. 9,100 198,598 Kuroda Electric Co., Ltd. 13,300 186,303 KYB Co., Ltd. 60,000 347,420 Kyocera Corp. 3,000 155,792 Kyocera Corp. Sponsored ADR 2,504 132,587 Kyodo Printing Co., Ltd. 24,000 66,828 Kyodo Shiryo Co., Ltd. 18,000 20,540 # Kyoei Steel, Ltd. 8,900 184,177 Kyokuto Kaihatsu Kogyo Co., Ltd. 12,500 156,298 # Kyokuto Securities Co., Ltd. 5,200 91,027 Kyokuyo Co., Ltd. 31,000 84,543 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- JAPAN -- (Continued) KYORIN Holdings, Inc. 14,700 $313,377 Kyoritsu Maintenance Co., Ltd. 3,200 123,165 Kyosan Electric Manufacturing Co., Ltd. 20,000 66,413 Kyoto Kimono Yuzen Co., Ltd. 1,000 10,509 Kyowa Exeo Corp. 26,500 314,675 Kyowa Hakko Kirin Co., Ltd. 37,000 408,664 Kyudenko Corp. 15,000 90,239 LAC Co., Ltd. 3,300 20,430 Land Business Co., Ltd. 1,900 8,447 # Lasertec Corp. 6,000 61,986 Lawson, Inc. 1,400 112,271 LEC, Inc. 1,400 17,835 # Life Corp. 3,600 59,890 Lintec Corp. 19,500 404,442 Lion Corp. 19,000 114,030 # LIXIL Group Corp. 10,300 241,768 Look, Inc. 15,000 45,357 M3, Inc. 16 43,817 Macnica, Inc. 4,700 127,431 Macromill, Inc. 4,000 25,164 Maeda Corp. 50,000 359,741 Maeda Road Construction Co., Ltd. 20,000 355,619 Maezawa Kyuso Industries Co., Ltd. 2,100 27,416 Makino Milling Machine Co., Ltd. 44,000 288,107 Makita Corp. 900 45,512 Makita Corp. Sponsored ADR 1,988 101,189 Mamiya-Op Co., Ltd. 27,000 49,846 Mandom Corp. 3,600 123,591 # Mars Engineering Corp. 5,000 95,602 Marubeni Corp. 71,000 555,891 Marubun Corp. 2,700 12,443 Marudai Food Co., Ltd. 39,000 122,654 #* Maruei Department Store Co., Ltd. 18,000 41,123 Maruetsu, Inc. (The) 9,000 29,857 Marufuji Sheet Piling Co., Ltd. 3,000 8,038 Maruha Nichiro Holdings, Inc. 92,000 176,432 Marui Group Co., Ltd. 67,800 649,027 Maruka Machinery Co., Ltd. 1,900 28,384 Marusan Securities Co., Ltd. 38,600 318,143 Maruwa Co. Ltd/Aichi 3,500 127,055 Maruwn Corp. 1,100 2,746 Maruyama Manufacturing Co., Inc. 28,000 77,206 * Maruzen CHI Holdings Co., Ltd. 700 2,033 Maruzen Showa Unyu Co., Ltd. 15,000 55,088 Marvelous AQL, Inc. 4,500 27,787 Matsuda Sangyo Co., Ltd. 6,100 85,433 Matsui Construction Co., Ltd. 7,000 29,782 # Matsui Securities Co., Ltd. 4,400 47,112 Matsumotokiyoshi Holdings Co., Ltd. 10,300 347,546 Matsuya Foods Co., Ltd. 2,100 33,418 Max Co., Ltd. 11,000 123,634 Maxvalu Tokai Co., Ltd. 1,500 21,323 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- JAPAN -- (Continued) * Mazda Motor Corp. 244,000 $1,098,367 MEC Co., Ltd. 6,600 28,030 Medical & Biological Laboratories Co., Ltd. 1,000 5,482 Medipal Holdings Corp. 42,100 567,672 Megachips Corp. 4,900 80,287 # Megmilk Snow Brand Co., Ltd. 17,300 245,678 # Meidensha Corp. 51,000 190,741 MEIJI Holdings Co., Ltd. 5,750 321,434 #* Meiko Electronics Co., Ltd. 2,400 18,255 # Meiko Network Japan Co., Ltd. 800 9,235 Meisei Industrial Co., Ltd. 13,000 55,826 Meitec Corp. 1,800 47,982 Meito Sangyo Co., Ltd. 1,100 11,580 # Meiwa Corp. 9,600 31,719 * Meiwa Estate Co., Ltd. 2,000 8,551 # Melco Holdings, Inc. 7,300 99,988 Message Co., Ltd. 3,600 101,617 Michinoku Bank, Ltd. (The) 39,000 81,066 Mie Bank, Ltd. (The) 26,000 52,959 Milbon Co., Ltd. 710 29,551 Mimasu Semiconductor Industry Co., Ltd. 4,000 35,054 Minato Bank, Ltd. (The) 75,000 130,788 Minebea Co., Ltd. 97,000 536,988 Ministop Co., Ltd. 7,800 121,739 Miraca Holdings, Inc. 2,500 112,645 # Miraial Co., Ltd. 2,600 42,174 Mirait Holdings Corp. 26,510 235,204 Miroku Jyoho Service Co., Ltd. 1,500 5,961 Misawa Homes Co., Ltd. 4,500 80,672 # MISUMI Group, Inc. 3,200 93,678 Mitani Corp. 3,400 73,438 Mito Securities Co., Ltd. 26,000 124,853 Mitsuba Corp. 9,000 134,319 Mitsubishi Chemical Holdings Corp. 205,500 961,996 Mitsubishi Corp. 62,000 1,254,325 Mitsubishi Electric Corp. 21,000 230,831 Mitsubishi Gas Chemical Co., Inc. 72,789 594,876 Mitsubishi Heavy Industries, Ltd. 49,000 311,408 * Mitsubishi Kakoki Kaisha, Ltd. 23,000 46,022 Mitsubishi Logistics Corp. 20,000 277,939 Mitsubishi Materials Corp. 124,800 488,269 #* Mitsubishi Motors Corp. 600 6,742 Mitsubishi Nichiyu Forklift Co., Ltd. 7,000 34,734 * Mitsubishi Paper Mills, Ltd. 102,000 92,493 Mitsubishi Pencil Co., Ltd. 4,125 107,651 Mitsubishi Research Institute, Inc. 1,200 26,059 Mitsubishi Shokuhin Co., Ltd. 5,700 159,640 Mitsubishi Steel Manufacturing Co., Ltd. 57,000 161,790 Mitsubishi Tanabe Pharma Corp. 34,800 490,809 Mitsubishi UFJ Financial Group, Inc. 543,100 3,458,604 # Mitsubishi UFJ Financial Group, Inc. ADR 16,850 107,840 Mitsuboshi Belting Co., Ltd. 22,000 113,410 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- JAPAN -- (Continued) Mitsui & Co., Ltd. 67,500 $ 964,300 Mitsui & Co., Ltd. Sponsored ADR 471 134,706 # Mitsui Chemicals, Inc. 174,000 462,545 Mitsui Engineering & Shipbuilding Co., Ltd. 313,000 614,412 Mitsui High-Tec, Inc. 8,600 60,934 Mitsui Home Co., Ltd. 6,000 30,229 Mitsui Knowledge Industry Co., Ltd. 7,800 12,229 Mitsui Matsushima Co., Ltd. 57,000 88,588 Mitsui Mining & Smelting Co., Ltd. 248,000 632,201 Mitsui OSK Lines, Ltd. 166,000 702,650 Mitsui Sugar Co., Ltd. 36,000 129,184 Mitsui-Soko Co., Ltd. 21,000 105,500 * Mitsumi Electric Co., Ltd. 31,400 211,743 Mitsuuroko Holdings Co., Ltd. 11,300 54,418 Miura Co., Ltd. 7,900 207,219 * Miyaji Engineering Group, Inc. 23,000 51,010 Miyazaki Bank, Ltd. (The) 60,000 174,139 Miyoshi Oil & Fat Co., Ltd. 20,000 32,237 Mizuho Financial Group, Inc. 1,011,060 2,122,278 # Mizuno Corp. 42,000 237,173 Mochida Pharmaceutical Co., Ltd. 2,200 139,246 Modec, Inc. 3,000 90,961 # Money Partners Group Co., Ltd. 4,900 13,808 Monogatari Corp. (The) 1,000 41,822 Morinaga & Co., Ltd. 66,000 140,443 # Morinaga Milk Industry Co., Ltd. 76,000 236,972 Morita Holdings Corp. 11,000 96,761 Mory Industries, Inc. 7,000 29,477 MOS Food Services, Inc. 2,900 56,227 Moshi Moshi Hotline, Inc. 10,900 137,009 Mr Max Corp. 8,900 30,371 MS&AD Insurance Group Holdings 23,282 602,011 # MTI, Ltd. 2,700 33,953 Murakami Corp. 2,000 28,598 Murata Manufacturing Co., Ltd. 2,100 168,567 # Musashi Seimitsu Industry Co., Ltd. 5,400 127,425 Musashino Bank, Ltd. (The) 13,000 456,117 # Mutoh Holdings Co., Ltd. 15,000 64,901 Nabtesco Corp. 3,600 87,867 Nachi-Fujikoshi Corp. 43,000 211,114 Nagaileben Co., Ltd. 1,800 29,704 Nagano Bank, Ltd. (The) 20,000 36,036 Nagase & Co., Ltd. 25,900 322,628 Nagatanien Co., Ltd. 3,000 27,239 # Nagoya Railroad Co., Ltd. 39,000 113,228 Nakabayashi Co., Ltd. 9,000 19,635 Nakamuraya Co., Ltd. 10,083 41,585 * Nakayama Steel Works, Ltd. 31,000 35,530 Nakayamafuku Co., Ltd. 600 4,671 Namco Bandai Holdings, Inc. 8,000 150,803 Namura Shipbuilding Co., Ltd. 10,200 147,699 Nankai Electric Railway Co., Ltd. 23,000 85,918 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- JAPAN -- (Continued) Nanto Bank, Ltd. (The) 69,000 $273,200 Natori Co., Ltd. 700 6,881 NDS Co., Ltd. 10,000 28,818 NEC Capital Solutions, Ltd. 1,400 34,698 NEC Corp. 368,000 826,596 NEC Fielding, Ltd. 7,900 89,225 NEC Networks & System Integration Corp. 6,900 173,737 # NET One Systems Co., Ltd. 25,000 174,397 Neturen Co., Ltd. 12,700 112,017 #* New Japan Chemical Co., Ltd. 6,900 21,357 Nexon Co., Ltd. 2,700 31,556 # NGK Insulators, Ltd. 7,000 117,740 NGK Spark Plug Co., Ltd. 8,000 182,705 NHK Spring Co., Ltd. 12,700 132,941 Nice Holdings, Inc. 15,000 38,998 Nichi-iko Pharmaceutical Co., Ltd. 5,300 132,133 Nichia Steel Works, Ltd. 10,000 36,577 # Nichias Corp. 29,000 196,199 Nichiban Co., Ltd. 9,000 35,181 Nichicon Corp. 23,000 240,876 Nichiden Corp. 1,600 37,716 Nichiha Corp. 8,900 127,719 Nichii Gakkan Co. 18,500 185,420 Nichimo Co., Ltd. 13,000 26,492 Nichirei Corp. 78,000 402,611 Nichireki Co., Ltd. 7,000 72,456 Nidec Copal Electronics Corp. 6,700 41,411 # Nidec Corp. 1,897 184,867 Nifco, Inc. 8,400 223,849 NIFTY Corp. 1,700 22,161 # Nihon Chouzai Co., Ltd. 720 20,392 Nihon Dempa Kogyo Co., Ltd. 10,300 95,888 Nihon Eslead Corp. 1,600 17,706 Nihon Kohden Corp. 2,100 86,492 Nihon Nohyaku Co., Ltd. 12,000 143,834 Nihon Parkerizing Co., Ltd. 10,000 195,351 Nihon Yamamura Glass Co., Ltd. 28,000 51,589 # Nikkiso Co., Ltd. 12,000 148,457 Nikko Co., Ltd. 9,000 52,318 Nikon Corp. 15,300 282,840 Nintendo Co., Ltd. 400 44,981 Nippo Corp. 17,000 318,936 Nippon Beet Sugar Manufacturing Co., Ltd. 46,000 86,652 Nippon Carbide Industries Co., Inc. 12,000 39,225 # Nippon Carbon Co., Ltd. 50,000 97,444 * Nippon Chemi-Con Corp. 36,000 162,692 #* Nippon Chemical Industrial Co., Ltd. 45,000 75,774 Nippon Chemiphar Co., Ltd. 5,000 23,447 Nippon Chutetsukan KK 12,000 30,003 Nippon Coke & Engineering Co., Ltd. 81,500 103,274 # Nippon Concrete Industries Co., Ltd. 19,000 106,438 Nippon Denko Co., Ltd. 41,000 119,404 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- JAPAN -- (Continued) Nippon Densetsu Kogyo Co., Ltd. 14,000 $174,999 # Nippon Electric Glass Co., Ltd. 112,000 576,099 Nippon Express Co., Ltd. 122,000 612,629 Nippon Filcon Co., Ltd. 1,800 8,055 Nippon Fine Chemical Co., Ltd. 4,800 31,414 Nippon Flour Mills Co., Ltd. 47,000 226,724 Nippon Formula Feed Manufacturing Co., Ltd. 18,000 22,544 Nippon Gas Co., Ltd. 5,900 65,974 Nippon Hume Corp. 10,000 90,446 Nippon Jogesuido Sekkei Co., Ltd. 1,400 17,659 Nippon Kanzai Co., Ltd. 500 9,092 # Nippon Kasei Chemical Co., Ltd. 8,000 11,662 Nippon Kayaku Co., Ltd. 17,000 238,339 * Nippon Kinzoku Co., Ltd. 16,000 22,200 Nippon Kodoshi Corp. 1,500 17,826 Nippon Koei Co., Ltd. 29,000 136,426 Nippon Konpo Unyu Soko Co., Ltd. 21,000 366,068 #* Nippon Koshuha Steel Co., Ltd. 18,000 19,800 Nippon Light Metal Holdings Co., Ltd. 216,700 310,265 Nippon Meat Packers, Inc. 21,000 307,467 Nippon Paint Co., Ltd. 11,000 185,016 # Nippon Paper Industries Co., Ltd. 39,824 634,555 Nippon Pillar Packing Co., Ltd. 6,000 41,161 Nippon Piston Ring Co., Ltd. 51,000 94,108 Nippon Road Co., Ltd. (The) 22,000 137,017 # Nippon Seiki Co., Ltd. 16,000 260,863 Nippon Seisen Co., Ltd. 6,000 27,419 # Nippon Sharyo, Ltd. 20,000 105,444 #* Nippon Sheet Glass Co., Ltd. 329,000 426,700 Nippon Shinyaku Co., Ltd. 15,000 258,564 # Nippon Shokubai Co., Ltd. 38,000 466,165 Nippon Signal Co., Ltd. 23,000 174,916 Nippon Soda Co., Ltd. 59,000 361,458 Nippon Steel & Sumikin Bussan 59,000 179,421 Nippon Steel & Sumikin Texeng 14,000 57,072 Nippon Steel & Sumitomo Metal Corp. 199,562 658,665 #* Nippon Suisan Kaisha, Ltd. 100,600 205,194 Nippon Synthetic Chemical Industry Co., Ltd. (The) 15,000 144,619 Nippon Television Holdings, Inc. 4,700 86,098 Nippon Thompson Co., Ltd. 30,000 163,279 Nippon Valqua Industries, Ltd. 21,000 58,837 #* Nippon Yakin Kogyo Co., Ltd. 68,500 226,962 # Nippon Yusen KK 246,217 752,315 # Nipro Corp. 36,100 330,818 Nishi-Nippon City Bank, Ltd. (The) 212,000 572,773 Nishi-Nippon Railroad Co., Ltd. 14,000 53,633 Nishikawa Rubber Co., Ltd. 1,400 25,201 Nishimatsu Construction Co., Ltd. 76,000 268,310 Nishimatsuya Chain Co., Ltd. 17,900 132,718 Nishio Rent All Co., Ltd. 5,600 151,562 Nissan Chemical Industries, Ltd. 7,200 113,191 Nissan Motor Co., Ltd. 47,900 480,976 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- JAPAN -- (Continued) Nissan Shatai Co., Ltd. 16,000 $ 275,857 Nissan Tokyo Sales Holdings Co., Ltd. 5,000 14,838 Nissei Corp. 1,900 17,416 Nissei Plastic Industrial Co., Ltd. 2,700 17,616 Nissen Holdings Co., Ltd. 7,300 23,569 Nisshin Fudosan Co. 4,700 37,493 # Nisshin Oillio Group, Ltd. (The) 45,000 151,206 # Nisshin Seifun Group, Inc. 64,850 703,066 Nisshin Steel Holdings Co., Ltd. 29,440 392,551 Nisshinbo Holdings, Inc. 60,000 529,936 Nissin Corp. 19,000 55,728 # Nissin Electric Co., Ltd. 21,000 133,586 Nissin Foods Holdings Co., Ltd. 2,200 94,169 # Nissin Kogyo Co., Ltd. 10,900 203,892 Nissin Sugar Co., Ltd. 700 14,714 Nissui Pharmaceutical Co., Ltd. 3,400 37,567 Nitori Holdings Co., Ltd. 850 79,735 Nitta Corp. 7,800 164,288 Nittan Valve Co., Ltd. 4,200 13,561 Nittetsu Mining Co., Ltd. 28,000 160,669 Nitto Boseki Co., Ltd. 54,000 251,075 # Nitto Denko Corp. 5,000 262,205 Nitto Kogyo Corp. 7,600 120,160 Nitto Kohki Co., Ltd. 4,200 79,361 Nitto Seiko Co., Ltd. 7,000 25,907 Nittoc Construction Co., Ltd. 12,200 53,276 # Nittoku Engineering Co., Ltd. 4,300 38,202 # NKSJ Holdings, Inc. 51,250 1,326,615 Noevir Holdings Co., Ltd. 3,900 63,360 NOF Corp. 45,000 312,903 Nohmi Bosai, Ltd. 8,000 80,796 NOK Corp. 26,600 411,191 Nomura Co., Ltd. 9,000 81,590 Nomura Holdings, Inc. 88,300 652,275 Nomura Holdings, Inc. ADR 7,820 57,555 Nomura Real Estate Holdings, Inc. 9,600 242,894 Nomura Research Institute, Ltd. 1,100 36,918 Noritake Co., Ltd/Nagoya 41,000 111,484 Noritz Corp. 12,000 278,149 North Pacific Bank, Ltd. 109,200 476,802 NS Solutions Corp. 4,900 111,725 #* NS United Kaiun Kaisha, Ltd. 57,000 172,874 NSD Co., Ltd. 12,400 151,659 NSK, Ltd. 18,000 192,282 * NTN Corp. 127,000 610,470 NTT Data Corp. 4,700 156,250 NTT DOCOMO, Inc. 28,672 454,882 NTT DOCOMO, Inc. Sponsored ADR 3,100 49,197 Nuflare Technology, Inc. 400 53,552 Obara Group, Inc. 3,300 83,477 Obayashi Corp. 99,000 634,304 Obayashi Road Corp. 8,000 46,956 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- JAPAN -- (Continued) OBIC Business Consultants, Ltd. 1,400 $ 48,346 Obic Co., Ltd. 4,000 125,611 Odelic Co., Ltd. 1,100 34,634 Oenon Holdings, Inc. 18,000 46,807 Ogaki Kyoritsu Bank, Ltd. (The) 137,000 385,903 * Ohara, Inc. 1,500 9,331 Ohashi Technica, Inc. 2,200 19,109 # Ohsho Food Service Corp. 2,300 75,318 OIE Sangyo Co., Ltd. 1,187 9,980 # Oiles Corp. 7,280 162,656 Oita Bank, Ltd. (The) 65,000 238,436 Oji Holdings Corp. 121,000 552,973 Okabe Co., Ltd. 14,500 194,136 Okamoto Industries, Inc. 26,000 82,908 Okamura Corp. 27,000 195,132 Okinawa Cellular Telephone Co. 1,900 46,741 Okinawa Electric Power Co., Inc. (The) 2,100 72,972 # OKK Corp. 41,000 59,843 OKUMA Corp. 41,000 346,340 Okumura Corp. 62,000 294,386 Okura Industrial Co., Ltd. 15,000 53,141 Okuwa Co., Ltd. 5,000 45,230 Olympic Group Corp. 2,300 17,053 * Olympus Corp. 3,400 108,771 Omron Corp. 5,500 209,887 ONO Sokki Co., Ltd. 8,000 35,491 Onoken Co., Ltd. 4,800 57,727 Onward Holdings Co., Ltd. 54,000 446,946 OPT, Inc. 5,500 47,749 Optex Co., Ltd. 4,600 75,626 Oracle Corp. Japan 1,000 39,484 Organo Corp. 14,000 67,867 # Origin Electric Co., Ltd. 7,000 23,546 Osaka Organic Chemical Industry, Ltd. 2,300 10,530 Osaka Steel Co., Ltd. 3,900 74,630 # OSAKA Titanium Technologies Co. 2,600 56,743 # Osaki Electric Co., Ltd. 14,000 92,297 OSG Corp. 6,400 103,530 Otsuka Corp. 500 64,852 Otsuka Kagu, Ltd. 2,300 25,943 OUG Holdings, Inc. 15,000 27,644 Oyo Corp. 7,400 122,243 Pacific Industrial Co., Ltd. 18,500 132,452 # Pacific Metals Co., Ltd. 62,000 227,199 Pack Corp. (The) 4,300 82,437 Pal Co., Ltd. 2,400 67,067 Paltac Corp. 13,350 179,638 PanaHome Corp. 34,000 230,007 Panasonic Corp. 19,899 203,952 Panasonic Corp. Sponsored ADR 27,580 287,384 Panasonic Industrial Devices SUNX Co., Ltd. 9,300 42,732 Parco Co., Ltd. 8,606 88,478 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- JAPAN -- (Continued) Paris Miki Holdings, Inc. 7,500 $ 35,046 # Park24 Co., Ltd. 4,100 80,051 Pasona Group, Inc. 47 36,827 Penta-Ocean Construction Co., Ltd. 120,500 364,325 # Pigeon Corp. 2,800 144,461 Pilot Corp. 2,400 91,148 Piolax, Inc. 2,900 99,976 #* Pioneer Corp. 130,200 239,673 Plenus Co., Ltd. 6,000 136,102 Pola Orbis Holdings, Inc. 2,700 91,481 Press Kogyo Co., Ltd. 44,000 193,011 Pressance Corp. 2,500 80,052 Prestige International, Inc. 400 3,755 Prima Meat Packers, Ltd. 57,000 120,850 Pronexus, Inc. 6,000 38,975 Proto Corp. 3,200 46,813 PS Mitsubishi Construction Co., Ltd. 12,500 66,395 Qol Co., Ltd. 6,300 40,157 Raito Kogyo Co., Ltd. 22,900 190,125 #* Rasa Industries, Ltd. 9,000 19,791 Relo Holdings, Inc. 1,800 83,454 Rengo Co., Ltd. 91,000 486,709 * Renown, Inc. 44,300 60,029 Resona Holdings, Inc. 81,600 424,461 Resorttrust, Inc. 4,600 175,227 Rhythm Watch Co., Ltd. 25,000 36,954 Riberesute Corp. 17 11,434 Ricoh Co., Ltd. 105,000 1,108,884 Ricoh Leasing Co., Ltd. 9,200 263,434 Right On Co., Ltd. 3,000 25,758 Riken Corp. 40,000 175,057 Riken Keiki Co., Ltd. 6,300 48,266 Riken Technos Corp. 16,000 71,743 Riken Vitamin Co., Ltd. 2,400 59,858 # Rinnai Corp. 700 54,180 # Rion Co., Ltd. 3,200 48,482 Riso Kagaku Corp. 6,300 140,341 # Riso Kyoiku Co., Ltd. 5,400 36,463 Rock Field Co., Ltd. 3,000 57,557 Rohm Co., Ltd. 14,400 591,086 Rohto Pharmaceutical Co., Ltd. 17,000 246,709 Rokko Butter Co., Ltd. 1,400 11,831 Round One Corp. 29,100 154,391 # Royal Holdings Co., Ltd. 5,500 88,234 Ryobi, Ltd. 56,000 247,495 Ryoden Trading Co., Ltd. 10,000 68,389 Ryohin Keikaku Co., Ltd. 1,800 179,560 Ryosan Co., Ltd. 13,700 265,263 S Foods, Inc. 4,000 40,181 # S&B Foods, Inc. 200 7,437 Sagami Chain Co., Ltd. 3,000 26,896 Saibu Gas Co., Ltd. 16,000 39,779 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- JAPAN -- (Continued) # Saizeriya Co., Ltd. 9,600 $118,664 # Sakai Chemical Industry Co., Ltd. 43,000 142,433 Sakai Heavy Industries, Ltd. 18,000 74,258 Sakai Ovex Co., Ltd. 45,000 68,299 Sakata INX Corp. 16,000 151,859 Sakata Seed Corp. 15,000 204,740 Sala Corp. 6,500 35,160 San-A Co., Ltd. 5,400 153,900 San-Ai Oil Co., Ltd. 25,000 107,971 San-In Godo Bank, Ltd. (The) 66,000 479,135 Sanden Corp. 27,000 109,244 Sanei Architecture Planning Co., Ltd. 5,400 45,345 Sangetsu Co., Ltd. 8,800 233,563 #* Sanix, Inc. 7,200 77,923 Sanken Electric Co., Ltd. 42,000 231,779 Sanki Engineering Co., Ltd. 23,000 143,605 # Sanko Marketing Foods Co., Ltd. 33 32,263 Sanko Metal Industrial Co., Ltd. 4,000 11,206 Sankyo Co., Ltd. 8,100 385,227 Sankyo Seiko Co., Ltd. 7,100 24,157 Sankyo Tateyama, Inc. 7,100 150,042 Sankyu, Inc. 106,000 379,421 Sanoh Industrial Co., Ltd. 8,500 61,105 Sanshin Electronics Co., Ltd. 14,000 91,396 Santen Pharmaceutical Co., Ltd. 1,700 86,302 Sanwa Holdings Corp. 62,000 397,347 Sanyo Chemical Industries, Ltd. 27,000 185,818 Sanyo Denki Co., Ltd. 16,000 104,573 Sanyo Housing Nagoya Co., Ltd. 1,900 22,076 Sanyo Shokai, Ltd. 51,372 141,760 Sanyo Special Steel Co., Ltd. 46,000 248,060 Sapporo Holdings, Ltd. 91,000 404,650 * Sasebo Heavy Industries Co., Ltd. 53,000 55,204 # Sata Construction Co., Ltd. 17,000 27,386 # Sato Holdings Corp. 7,900 160,263 Sato Shoji Corp. 4,500 27,548 Satori Electric Co., Ltd. 2,800 16,917 Sawada Holdings Co., Ltd. 8,100 76,066 # Sawai Pharmaceutical Co., Ltd. 600 43,862 Saxa Holdings, Inc. 10,000 16,141 SBI Holdings, Inc. 57,550 696,461 SBS Holdings, Inc. 1,700 25,096 Scroll Corp. 5,100 14,486 SCSK Corp. 1,655 41,954 # Secom Co., Ltd. 2,000 120,485 Secom Joshinetsu Co., Ltd. 200 4,947 Sega Sammy Holdings, Inc. 4,700 120,487 Seibu Electric Industry Co., Ltd. 2,000 8,885 Seika Corp. 18,000 43,859 Seikagaku Corp. 4,700 60,977 #* Seikitokyu Kogyo Co., Ltd. 12,000 17,284 Seiko Epson Corp. 41,650 679,877 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- JAPAN -- (Continued) Seiko Holdings Corp. 12,000 $ 54,014 Seiko PMC Corp. 3,300 16,177 Seino Holdings Co., Ltd. 46,000 454,307 Seiren Co., Ltd. 19,200 122,525 Sekisui Chemical Co., Ltd. 19,000 220,751 Sekisui House, Ltd. 82,440 1,183,331 Sekisui Jushi Corp. 10,000 145,594 Sekisui Plastics Co., Ltd. 16,000 45,239 # Senko Co., Ltd. 35,000 188,762 # Senshu Electric Co., Ltd. 1,400 17,114 Senshu Ikeda Holdings, Inc. 76,840 378,503 Senshukai Co., Ltd. 10,700 92,635 # Seven & I Holdings Co., Ltd. 8,100 299,770 #* Sharp Corp. 179,000 529,500 Shibaura Electronics Co., Ltd. 700 8,872 * Shibaura Mechatronics Corp. 20,000 49,882 Shibusawa Warehouse Co., Ltd. (The) 15,000 64,016 Shibuya Kogyo Co., Ltd. 4,400 83,304 Shidax Corp. 2,000 10,095 Shiga Bank, Ltd. (The) 74,000 404,436 Shikibo, Ltd. 50,000 66,846 Shikoku Bank, Ltd. (The) 65,000 150,546 Shikoku Chemicals Corp. 14,000 101,924 #* Shikoku Electric Power Co., Inc. 3,800 67,827 Shima Seiki Manufacturing, Ltd. 11,500 235,933 Shimachu Co., Ltd. 19,300 468,680 Shimadzu Corp. 27,000 264,394 Shimamura Co., Ltd. 200 22,484 SHIMANE BANK, Ltd. (The) 1,300 17,090 Shimano, Inc. 400 35,010 Shimizu Bank, Ltd. (The) 1,700 47,810 Shimizu Corp. 167,000 856,447 Shimojima Co., Ltd. 1,600 15,562 Shin Nippon Air Technologies Co., Ltd. 2,500 15,697 Shin-Etsu Chemical Co., Ltd. 4,600 260,093 Shin-Etsu Polymer Co., Ltd. 13,100 46,078 Shin-Keisei Electric Railway Co., Ltd. 5,000 19,241 Shinagawa Refractories Co., Ltd. 20,000 43,649 Shindengen Electric Manufacturing Co., Ltd. 26,000 167,301 Shinko Electric Industries Co., Ltd. 30,600 272,794 Shinko Plantech Co., Ltd. 17,200 138,869 Shinko Shoji Co., Ltd. 6,100 52,206 # Shinmaywa Industries, Ltd. 36,000 282,058 Shinnihon Corp. 9,500 33,088 Shinsei Bank, Ltd. 255,000 597,033 Shinsho Corp. 8,000 16,581 Shionogi & Co., Ltd. 6,700 148,261 Ship Healthcare Holdings, Inc. 4,200 172,344 Shiroki Corp. 19,000 42,618 Shiseido Co., Ltd. 6,400 109,485 # Shizuoka Bank, Ltd. (The) 88,000 990,122 Shizuoka Gas Co., Ltd. 18,900 125,165 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- JAPAN -- (Continued) Shobunsha Publications, Inc. 4,800 $ 30,108 # Shoei Foods Corp. 500 3,965 Shofu, Inc. 1,200 10,850 Shoko Co., Ltd. 19,000 30,587 # Showa Aircraft Industry Co., Ltd. 7,000 81,075 Showa Corp. 14,200 197,086 # Showa Denko KK 449,000 608,819 Showa Sangyo Co., Ltd. 18,000 55,642 # Showa Shell Sekiyu KK 35,000 376,281 Siix Corp. 6,800 82,984 Sinanen Co., Ltd. 23,000 89,710 Sinfonia Technology Co., Ltd. 38,000 67,376 Sinko Industries, Ltd. 2,900 23,890 Sintokogio, Ltd. 18,400 138,456 SKY Perfect JSAT Holdings, Inc. 56,600 326,831 SMC Corp. 100 23,282 SMK Corp. 19,000 91,407 SNT Corp. 6,100 23,334 Sodick Co., Ltd. 20,600 96,293 Soft99 Corp. 4,000 28,268 Softbank Corp. 948 70,796 Sogo Medical Co., Ltd. 2,300 87,449 Sohgo Security Services Co., Ltd. 16,900 341,634 # Sojitz Corp. 304,100 590,499 # Sony Corp. 27,300 476,240 Sony Corp. Sponsored ADR 17,008 293,388 Sony Financial Holdings, Inc. 5,300 98,965 # Sotetsu Holdings, Inc. 22,000 81,832 Sotoh Co., Ltd. 1,500 13,813 Space Co., Ltd. 5,800 54,024 SPK Corp. 1,082 19,446 Square Enix Holdings Co., Ltd. 19,300 311,052 SRA Holdings 1,900 21,250 ST Corp. 2,200 22,366 St Marc Holdings Co., Ltd. 2,900 149,268 Stanley Electric Co., Ltd. 5,100 118,631 Star Micronics Co., Ltd. 14,200 152,803 Start Today Co., Ltd. 900 25,092 Starts Corp., Inc. 7,500 74,925 Starzen Co., Ltd. 18,000 49,804 Stella Chemifa Corp. 5,100 94,250 # Studio Alice Co., Ltd. 4,700 60,749 Sugi Holdings Co., Ltd. 1,600 66,919 Sumco Corp. 13,300 120,854 Sumida Corp. 4,600 21,940 Suminoe Textile Co., Ltd. 13,000 38,481 Sumitomo Bakelite Co., Ltd. 83,000 299,286 # Sumitomo Chemical Co., Ltd. 142,000 520,058 Sumitomo Corp. 51,100 664,980 Sumitomo Densetsu Co., Ltd. 7,100 104,865 Sumitomo Electric Industries, Ltd. 114,200 1,711,211 Sumitomo Forestry Co., Ltd. 37,100 431,619 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- JAPAN -- (Continued) Sumitomo Heavy Industries, Ltd. 156,000 $ 690,446 Sumitomo Metal Mining Co., Ltd. 80,000 1,108,047 #* Sumitomo Mitsui Construction Co., Ltd. 27,400 35,794 Sumitomo Mitsui Financial Group, Inc. 55,941 2,703,957 Sumitomo Mitsui Trust Holdings, Inc. 151,000 745,802 Sumitomo Osaka Cement Co., Ltd. 171,000 689,947 Sumitomo Precision Products Co., Ltd. 10,000 43,255 Sumitomo Real Estate Sales Co., Ltd. 1,880 61,551 Sumitomo Rubber Industries, Ltd. 3,600 50,117 Sumitomo Seika Chemicals Co., Ltd. 22,000 140,773 Sumitomo Warehouse Co., Ltd. (The) 57,000 334,297 Sun-Wa Technos Corp. 1,000 9,314 Suncall Corp. 5,000 28,777 Sundrug Co., Ltd. 1,000 49,849 Suruga Bank, Ltd. 13,000 206,223 # Suzuken Co. Ltd/Aichi Japan 22,400 808,858 Suzuki Motor Corp. 6,900 173,503 #* SWCC Showa Holdings Co., Ltd. 134,000 152,882 # Sysmex Corp. 1,100 72,867 Systena Corp. 3,400 24,814 T Hasegawa Co., Ltd. 6,600 93,422 T RAD Co., Ltd. 36,000 114,135 T&D Holdings, Inc. 88,700 1,064,908 T&K Toka Co., Ltd. 2,300 48,931 Tachi-S Co., Ltd. 9,700 154,818 Tachibana Eletech Co., Ltd. 1,800 20,624 * Tact Home Co., Ltd. 34 82,294 Tadano, Ltd. 19,000 261,274 Taihei Dengyo Kaisha, Ltd. 8,000 56,333 # Taiheiyo Cement Corp. 48,000 203,578 Taiheiyo Kouhatsu, Inc. 17,000 18,913 Taiho Kogyo Co., Ltd. 7,600 95,640 Taikisha, Ltd. 8,400 195,257 Taiko Bank, Ltd. (The) 5,000 11,128 Taisei Corp. 79,000 405,292 Taiyo Holdings Co., Ltd. 1,900 57,383 # Taiyo Nippon Sanso Corp. 23,000 157,719 # Taiyo Yuden Co., Ltd. 30,800 394,792 Takagi Securities Co., Ltd. 39,000 150,195 Takamatsu Construction Group Co., Ltd. 4,800 89,864 Takaoka Toko Holdings Co., Ltd. 3,664 74,416 Takara Holdings, Inc. 22,000 201,747 Takara Leben Co., Ltd. 13,200 52,094 Takara Standard Co., Ltd. 34,000 273,557 Takasago International Corp. 28,000 155,669 Takasago Thermal Engineering Co., Ltd. 24,800 207,258 # Takashima & Co., Ltd. 26,000 73,391 Takashimaya Co., Ltd. 74,000 706,038 Takata Corp. 11,400 287,529 # Take And Give Needs Co., Ltd. 1,570 32,165 Takeda Pharmaceutical Co., Ltd. 8,800 419,360 Takeei Corp. 4,200 66,085 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- JAPAN -- (Continued) # Takeuchi Manufacturing Co., Ltd. 4,800 $101,247 Takihyo Co., Ltd. 8,000 32,968 Takiron Co., Ltd. 12,000 51,063 Takisawa Machine Tool Co., Ltd. 23,000 34,290 Takuma Co., Ltd. 13,000 110,806 Tamron Co., Ltd. 6,700 142,959 Tamura Corp. 20,000 52,603 # Tanseisha Co., Ltd. 7,000 47,321 Tatsuta Electric Wire and Cable Co., Ltd. 13,000 91,789 Tayca Corp. 6,000 18,216 Tbk Co., Ltd. 9,000 49,930 TDK Corp. 19,700 837,252 #* Teac Corp. 23,000 14,790 Teijin, Ltd. 250,000 561,369 Teikoku Electric Manufacturing Co., Ltd. 2,600 61,205 Teikoku Sen-I Co., Ltd. 6,000 55,142 Teikoku Tsushin Kogyo Co., Ltd. 13,000 23,316 #* Tekken Corp. 76,000 248,520 Terumo Corp. 3,400 164,664 # THK Co., Ltd. 7,400 161,530 TKC Corp. 5,800 96,304 Toa Corp.(6894434) 5,000 42,377 * Toa Corp.(6894508) 74,000 179,830 # Toa Oil Co., Ltd. 24,000 45,006 TOA ROAD Corp. 13,000 70,953 Toabo Corp. 38,000 31,013 Toagosei Co., Ltd. 88,000 399,054 #* Tobishima Corp. 19,900 37,779 Tobu Store Co., Ltd. 1,000 2,627 TOC Co., Ltd. 19,300 156,792 Tocalo Co., Ltd. 8,100 132,617 Tochigi Bank, Ltd. (The) 40,000 152,959 Toda Corp. 86,000 314,401 # Toda Kogyo Corp. 9,000 27,443 Toei Animation Co., Ltd. 900 23,621 Toei Co., Ltd. 31,000 186,448 Toenec Corp. 13,000 81,087 Toho Bank, Ltd. (The) 66,000 207,195 Toho Co. Ltd/Kobe 12,000 43,347 Toho Co., Ltd. 2,800 59,998 Toho Gas Co., Ltd. 20,000 104,289 # Toho Holdings Co., Ltd. 19,900 385,272 # Toho Titanium Co., Ltd. 13,400 106,495 Toho Zinc Co., Ltd. 62,000 186,855 Tohoku Bank, Ltd. (The) 23,000 34,252 Tohokushinsha Film Corp. 700 6,854 Tohto Suisan Co., Ltd. 16,000 34,924 Tokai Carbon Co., Ltd. 81,000 278,477 Tokai Corp/Gifu 2,000 53,161 TOKAI Holdings Corp. 24,100 85,354 Tokai Lease Co., Ltd. 5,000 9,121 Tokai Rika Co., Ltd. 15,900 337,162 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- JAPAN -- (Continued) Tokai Rubber Industries, Ltd. 19,000 $174,905 Tokai Tokyo Financial Holdings, Inc. 50,881 426,785 Token Corp. 2,020 107,299 Tokio Marine Holdings, Inc. 29,816 977,501 Tokushu Tokai Paper Co., Ltd. 25,000 51,417 Tokuyama Corp. 140,000 541,521 Tokyo Broadcasting System Holdings, Inc. 10,700 140,986 Tokyo Dome Corp. 28,000 192,559 Tokyo Electron Device, Ltd. 1,300 20,247 Tokyo Electron, Ltd. 6,300 345,698 Tokyo Energy & Systems, Inc. 5,000 26,606 # Tokyo Keiki, Inc. 33,000 102,293 * Tokyo Kikai Seisakusho, Ltd. 20,000 24,349 Tokyo Rakutenchi Co., Ltd. 7,000 35,079 #* Tokyo Rope Manufacturing Co., Ltd. 50,000 87,276 Tokyo Seimitsu Co., Ltd. 11,300 215,764 * Tokyo Steel Manufacturing Co., Ltd. 44,000 236,431 Tokyo Tatemono Co., Ltd. 83,000 779,204 Tokyo Tekko Co., Ltd. 13,000 55,881 Tokyo Theatres Co., Inc. 43,000 71,998 Tokyo Tomin Bank, Ltd. (The) 11,600 124,301 #* Tokyu Construction Co., Ltd. 46,530 273,416 Tokyu Corp. 1,000 6,810 * Tokyu Fudosan Holdings Corp. 61,282 602,038 Tokyu Recreation Co., Ltd. 3,853 22,527 Toli Corp. 9,000 18,928 Tomato Bank, Ltd. 22,000 38,751 Tomen Electronics Corp. 2,900 32,907 Tomoe Corp. 12,000 61,376 # Tomoe Engineering Co., Ltd. 2,200 35,033 Tomoku Co., Ltd. 22,000 70,228 TOMONY Holdings, Inc. 65,200 246,294 Tomy Co., Ltd. 32,400 166,974 Tonami Holdings Co., Ltd. 11,000 24,004 Toppan Forms Co., Ltd. 22,500 209,848 Toppan Printing Co., Ltd. 86,000 679,259 Topre Corp. 14,200 199,240 Topy Industries, Ltd. 72,000 157,817 # Toray Industries, Inc. 52,000 324,934 # Toridoll.corp 3,900 36,720 Torigoe Co., Ltd. (The) 2,300 15,567 # Torishima Pump Manufacturing Co., Ltd. 7,800 69,441 # Tosei Corp. 17,500 140,471 Toshiba Corp. 49,000 208,263 Toshiba Machine Co., Ltd. 49,000 253,424 Toshiba Plant Systems & Services Corp. 8,000 141,155 Toshiba TEC Corp. 41,000 252,528 # Tosho Printing Co., Ltd. 11,000 29,477 Tosoh Corp. 144,000 551,040 Totetsu Kogyo Co., Ltd. 6,270 141,214 TOTO, Ltd. 10,000 141,422 Tottori Bank, Ltd. (The) 8,000 15,397 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- JAPAN -- (Continued) * Touei Housing Corp. 3,800 $ 98,584 Towa Bank, Ltd. (The) 98,000 89,629 Towa Corp. 7,700 44,293 Towa Pharmaceutical Co., Ltd. 2,700 135,097 # Toyo Construction Co., Ltd. 29,900 105,646 Toyo Corp. 10,200 113,787 # Toyo Denki Seizo--Toyo Electric Manufacturing Co., Ltd. 18,000 58,769 Toyo Engineering Corp. 36,000 153,395 Toyo Ink SC Holdings Co., Ltd. 82,000 418,030 Toyo Kanetsu KK 55,000 161,748 Toyo Kohan Co., Ltd. 21,000 95,530 Toyo Machinery & Metal Co., Ltd. 7,900 31,265 # Toyo Securities Co., Ltd. 64,000 219,219 Toyo Seikan Group Holdings, Ltd. 28,300 588,157 Toyo Sugar Refining Co., Ltd. 8,000 8,396 Toyo Suisan Kaisha, Ltd. 2,000 63,606 # Toyo Tanso Co., Ltd. 5,500 104,236 Toyo Tire & Rubber Co., Ltd. 55,000 321,360 # Toyo Wharf & Warehouse Co., Ltd. 18,000 48,775 Toyobo Co., Ltd. 370,000 711,007 Toyoda Gosei Co., Ltd. 10,500 262,548 Toyota Boshoku Corp. 4,000 53,576 Toyota Motor Corp. 6,780 439,603 Toyota Motor Corp. Sponsored ADR 11,600 1,501,272 Toyota Tsusho Corp. 13,300 369,434 TPR Co., Ltd. 8,900 169,160 Trancom Co., Ltd. 200 6,258 Transcosmos, Inc. 3,900 67,483 Trend Micro, Inc. 500 18,597 Trusco Nakayama Corp. 7,200 153,291 TS Tech Co., Ltd. 7,500 280,990 TSI Holdings Co., Ltd. 38,205 270,045 Tsubakimoto Chain Co. 41,000 271,621 Tsubakimoto Kogyo Co., Ltd. 2,000 5,397 #* Tsudakoma Corp. 40,000 65,623 # Tsugami Corp. 28,000 140,736 # Tsukamoto Corp. Co., Ltd. 3,000 4,853 Tsukishima Kikai Co., Ltd. 8,000 84,246 Tsukuba Bank, Ltd. (The) 34,600 120,995 # Tsukui Corp. 4,200 46,551 Tsumura & Co. 4,000 125,720 Tsuruha Holdings, Inc. 1,300 118,025 Tsurumi Manufacturing Co., Ltd. 4,000 40,979 Tv Tokyo Holdings Corp. 700 12,058 # U-Shin, Ltd. 8,600 63,973 # UACJ Corp. 61,067 200,845 # Ube Industries, Ltd. 308,200 637,941 Uchida Yoko Co., Ltd. 31,000 90,955 Ueki Corp. 3,000 6,680 UKC Holdings Corp. 4,500 89,702 * Ulvac, Inc. 21,300 217,816 Union Tool Co. 4,700 108,038 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- JAPAN -- (Continued) Unipres Corp. 16,400 $330,922 # United Arrows, Ltd. 2,400 103,406 # Universal Entertainment Corp. 5,300 105,547 # UNY Group Holdings Co., Ltd. 88,800 560,355 * Usen Corp. 28,780 71,578 Ushio, Inc. 37,200 469,869 USS Co., Ltd. 4,000 58,578 Valor Co., Ltd. 14,500 209,283 # Village Vanguard Co., Ltd. 18 27,895 Vital KSK Holdings, Inc. 9,400 65,932 VT Holdings Co., Ltd. 3,900 52,490 Wacoal Holdings Corp. 47,000 504,687 * Wakachiku Construction Co., Ltd. 34,000 46,177 Wakita & Co., Ltd. 16,000 208,350 Warabeya Nichiyo Co., Ltd. 5,100 95,157 Watabe Wedding Corp. 1,400 10,490 # WATAMI Co., Ltd. 4,000 61,483 # Weathernews, Inc. 1,700 36,770 Welcia Holdings Co., Ltd. 1,000 60,489 West Holdings Corp. 3,000 51,666 Wood One Co., Ltd. 6,000 16,984 Wowow, Inc. 2,200 84,522 Xebio Co., Ltd. 10,200 220,563 Y A C Co., Ltd. 3,200 20,305 Yachiyo Bank, Ltd. (The) 4,400 120,028 Yahagi Construction Co., Ltd. 7,600 53,230 Yaizu Suisankagaku Industry Co., Ltd. 100 885 Yakult Honsha Co., Ltd. 1,700 86,349 YAMABIKO Corp. 2,600 79,515 # Yamada Denki Co., Ltd. 276,400 775,298 Yamagata Bank, Ltd. (The) 48,000 199,870 Yamaguchi Financial Group, Inc. 61,000 574,841 Yamaha Corp. 26,500 395,657 # Yamaha Motor Co., Ltd. 11,700 179,226 Yamanashi Chuo Bank, Ltd. (The) 61,000 257,545 Yamatane Corp. 52,000 97,731 Yamato Holdings Co., Ltd. 9,500 204,306 # Yamato International, Inc. 1,500 6,677 # Yamato Kogyo Co., Ltd. 11,100 411,412 Yamaya Corp. 2,000 28,810 Yamazaki Baking Co., Ltd. 33,000 335,973 Yamazen Corp. 14,100 89,415 Yaoko Co., Ltd. 1,900 70,778 # Yaskawa Electric Corp. 7,000 90,655 Yasuda Warehouse Co., Ltd. (The) 8,900 111,143 Yellow Hat, Ltd. 6,700 122,028 Yodogawa Steel Works, Ltd. 41,000 185,471 Yokogawa Bridge Holdings Corp. 13,000 185,127 # Yokogawa Electric Corp. 9,200 120,233 # Yokohama Reito Co., Ltd. 17,300 136,925 Yokohama Rubber Co., Ltd. (The) 27,000 264,103 Yokowo Co., Ltd. 5,100 28,941 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ------------ JAPAN -- (Continued) Yomeishu Seizo Co., Ltd. 2,000 $ 16,564 Yondenko Corp. 8,000 28,255 Yondoshi Holdings, Inc. 8,800 118,614 Yonex Co., Ltd. 3,600 19,962 Yorozu Corp. 7,900 155,875 Yuasa Trading Co., Ltd. 43,000 86,823 Yuken Kogyo Co., Ltd. 7,000 15,455 Yurtec Corp. 14,000 45,472 Yusen Logistics Co., Ltd. 9,200 103,871 Yushin Precision Equipment Co., Ltd. 1,000 20,276 Yushiro Chemical Industry Co., Ltd. 3,800 34,568 # Zappallas, Inc. 5,000 37,158 # Zenrin Co., Ltd. 11,600 122,116 # Zensho Holdings Co., Ltd. 2,100 23,966 Zeon Corp. 10,000 119,171 # ZERIA Pharmaceutical Co., Ltd. 2,200 52,156 Zojirushi Corp. 4,000 16,063 ------------ TOTAL JAPAN 243,371,326 ------------ NETHERLANDS -- (2.5%) Aalberts Industries NV 26,677 796,490 # Accell Group 5,759 117,580 Aegon NV(007924103) 7,785 61,969 Aegon NV(5927375) 279,663 2,225,243 * AFC Ajax NV 70 738 Akzo Nobel NV 23,385 1,697,619 * AMG Advanced Metallurgical Group NV 10,989 122,672 Amsterdam Commodities NV 3,378 75,262 # APERAM 19,727 337,027 Arcadis NV 11,489 360,298 # ArcelorMittal(B295F26) 113,273 1,785,183 ArcelorMittal(B03XPL1) 8,183 128,887 ASM International NV 20,247 665,044 # ASML Holding NV 8,314 786,806 * Ballast Nedam 398 6,144 BE Semiconductor Industries NV 16,216 176,210 Beter Bed Holding NV 1,203 27,141 BinckBank NV 25,225 242,686 # Brunel International NV 2,992 175,630 Corbion NV 33,887 785,083 Delta Lloyd NV 83,526 1,770,887 Exact Holding NV 2,291 60,541 Fugro NV 9,428 589,442 Gemalto NV 3,307 371,176 * Grontmij 22,160 112,547 Heijmans NV 6,308 83,674 # Heineken NV 2,366 163,034 Hunter Douglas NV 297 12,823 * ING Groep NV 94,104 1,195,846 #* ING Groep NV Sponsored ADR 72,426 921,259 * Kardan NV 13,033 6,583 KAS Bank NV 5,442 73,468 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- NETHERLANDS -- (Continued) Kendrion NV 1,665 $ 52,216 Koninklijke Ahold NV 40,719 773,927 # Koninklijke BAM Groep NV 112,188 596,670 Koninklijke Boskalis Westminster NV 4,741 227,864 # Koninklijke DSM NV 23,672 1,789,427 * Koninklijke KPN NV 23,454 74,674 # Koninklijke Philips NV(500472303) 43,549 1,542,070 Koninklijke Philips NV(5986622) 37,175 1,313,791 Koninklijke Ten Cate NV 10,165 308,629 Koninklijke Vopak NV 3,612 222,150 Koninklijke Wessanen NV 24,174 90,433 Macintosh Retail Group NV 5,853 64,309 Nutreco NV 13,153 642,992 * Ordina NV 12,745 22,244 * PostNL NV 97,636 510,178 Randstad Holding NV 9,871 607,941 # Reed Elsevier NV 12,404 249,377 Reed Elsevier NV Sponsored ADR 1,500 60,375 #* Royal Imtech NV 9,135 26,881 * SBM Offshore NV 34,132 714,399 Sligro Food Group NV 4,752 177,977 #* SNS REAAL NV 28,066 -- Telegraaf Media Groep NV 7,861 102,545 TKH Group NV 11,346 362,466 TNT Express NV 134,975 1,244,401 #* TomTom NV 74,157 572,588 Unit4 NV 6,660 313,335 USG People NV 25,423 336,070 Wolters Kluwer NV 21,470 581,640 Ziggo NV 10,214 437,866 ----------- TOTAL NETHERLANDS 29,954,427 ----------- NEW ZEALAND -- (0.4%) * A2 Corp., Ltd. 20,758 11,693 # Air New Zealand, Ltd. 136,799 181,988 Auckland International Airport, Ltd. 207,955 588,686 #* Bathurst Resources New Zealand, Ltd. 123,841 22,806 Chorus, Ltd. 79,615 174,248 Chorus, Ltd. ADR 462 5,022 Contact Energy, Ltd. 101,802 441,456 Ebos Group, Ltd. 14,282 114,408 Fisher & Paykel Healthcare Corp., Ltd. 68,792 209,216 Fletcher Building, Ltd.(6341606) 37,414 308,761 Fletcher Building, Ltd.(6341617) 11,960 98,196 Freightways, Ltd. 23,860 86,128 Hallenstein Glasson Holdings, Ltd. 634 2,580 Heartland New Zealand, Ltd. 106,802 74,005 Infratil, Ltd. 52,521 108,450 Kathmandu Holdings, Ltd. 812 2,606 Mainfreight, Ltd. 12,043 115,383 New Zealand Oil & Gas, Ltd. 31,977 22,188 New Zealand Refining Co., Ltd. (The) 14,184 26,367 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- NEW ZEALAND -- (Continued) # Nuplex Industries, Ltd. 43,646 $ 126,164 NZX, Ltd. 27,599 28,749 PGG Wrightson, Ltd. 41,016 13,898 * Pike River Coal, Ltd. 12,312 -- Port of Tauranga, Ltd. 13,291 151,422 Restaurant Brands New Zealand, Ltd. 16,668 40,999 # Ryman Healthcare, Ltd. 45,413 283,091 Skellerup Holdings, Ltd. 21,549 30,238 Sky Network Television, Ltd. 66,512 340,630 # SKYCITY Entertainment Group, Ltd. 98,768 317,201 Telecom Corp. of New Zealand, Ltd. 117,398 227,805 Tower, Ltd. 27,672 42,305 Trade Me, Ltd. 32,537 120,901 TrustPower, Ltd. 8,621 49,135 Vector, Ltd. 19,449 41,916 Warehouse Group, Ltd. (The) 17,775 54,033 * Xero, Ltd. 5,224 120,766 ---------- TOTAL NEW ZEALAND 4,583,440 ---------- NORWAY -- (1.0%) # ABG Sundal Collier Holding ASA 78,760 61,497 * Agasti Holding ASA 21,755 6,258 Aker ASA Class A 4,406 138,807 Aker Solutions ASA 4,011 55,414 * Algeta ASA 3,564 141,232 * American Shipping ASA 1,923 10,904 * Archer, Ltd. 87,498 79,533 Atea ASA 18,580 205,883 Austevoll Seafood ASA 37,069 230,152 Bakkafrost P/F 2,490 34,985 Bonheur ASA 2,527 57,764 BW Offshore, Ltd. 143,355 196,193 * BWG Homes ASA 14,417 26,790 # Cermaq ASA 16,789 297,537 * Deep Sea Supply PLC 40,789 77,031 #* Det Norske Oljeselskap ASA 9,315 132,552 DNB ASA 44,349 786,153 * DNO International ASA 82,820 234,045 * DOF ASA 11,186 52,454 # Ekornes ASA 3,570 58,071 #* Electromagnetic GeoServices A.S. 24,789 28,616 Eltek ASA 78,226 92,070 Evry ASA 20,232 32,913 Farstad Shipping ASA 4,288 97,365 Fred Olsen Energy ASA 2,543 106,866 #* Frontline, Ltd. 10,435 22,175 Ganger Rolf ASA 3,945 88,545 Gjensidige Forsikring ASA 7,127 133,027 Golar LNG, Ltd. 3,400 126,242 Golden Ocean Group Ltd. 119,371 179,881 * Grieg Seafood ASA 7,041 22,012 * Hoegh LNG Holdings Ltd 1,442 11,098 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- NORWAY -- (Continued) * Hurtigruten ASA 42,015 $ 16,046 * Kongsberg Automotive Holding ASA 217,847 168,045 # Kongsberg Gruppen A.S. 2,267 47,247 # Kvaerner ASA 47,257 76,986 Leroey Seafood Group ASA 5,360 165,633 Marine Harvest ASA 412,814 483,977 #* Nordic Semiconductor ASA 16,465 69,775 # Norsk Hydro ASA 150,073 669,741 #* Norske Skogindustrier ASA 103,385 56,455 Northern Offshore, Ltd. 31,223 48,627 #* Norwegian Air Shuttle A.S. 5,170 212,247 * Norwegian Energy Co. A.S. 67,563 3,402 * Odfjell SE Class A 5,645 40,484 # Opera Software ASA 9,370 113,410 Orkla ASA 74,935 607,436 #* Panoro Energy ASA 147,239 78,025 Petroleum Geo-Services ASA 9,278 112,524 Prosafe SE 6,323 54,194 * Q-Free ASA 3,734 10,180 #* REC Silicon ASA 835,388 415,986 #* REC Solar AS 14,403 183,877 * Salmar ASA 4,270 52,313 Schibsted ASA 1,854 113,302 * Sevan Drilling A.S. 60,086 57,316 * Sevan Marine ASA 11,522 51,319 * Siem Offshore, Inc. 39,709 64,667 Solstad Offshore ASA 2,300 45,621 * Songa Offshore 62,650 59,067 SpareBank 1 SMN 27,627 232,826 SpareBank 1 SR Bank ASA 40,721 365,956 Statoil ASA 14,141 334,593 Statoil ASA Sponsored ADR 12,080 285,450 Stolt-Nielsen, Ltd. 10,271 290,811 * Storebrand ASA 118,197 764,319 Subsea 7 SA 38,053 804,736 Telenor ASA 8,010 192,461 TGS Nopec Geophysical Co. ASA 2,774 76,295 Tomra Systems ASA 13,900 127,266 TTS Group ASA 6,609 7,319 Veidekke ASA 7,209 58,710 Veripos, Inc. 2,378 11,709 Wilh Wilhelmsen ASA 14,941 138,703 Wilh Wilhelmsen Holding ASA Class A 3,806 116,515 # Yara International ASA 4,898 210,944 ----------- TOTAL NORWAY 11,920,580 ----------- PORTUGAL -- (0.4%) Altri SGPS SA 51,633 167,587 #* Banco BPI SA 132,755 210,207 #* Banco Comercial Portugues SA 4,565,703 680,845 * Banco Espirito Santo SA 773,088 1,015,819 Cimpor Cimentos de Portugal SGPS SA 6,982 25,551 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- PORTUGAL -- (Continued) * EDP Renovaveis SA 77,207 $ 424,454 Galp Energia SGPS SA 11,488 194,531 Jeronimo Martins SGPS SA 5,273 97,110 Mota-Engil SGPS SA 22,573 103,461 Portucel SA 51,414 197,828 # Portugal Telecom SGPS SA 122,225 550,930 REN--Redes Energeticas Nacionais SGPS SA 24,874 74,633 # Semapa-Sociedade de Investimento e Gestao 25,607 251,636 Sonae 311,090 449,331 * Sonae Industria SGPS SA 12,295 10,040 Sonaecom--SGPS SA 44,682 144,880 Teixeira Duarte SA 10,457 10,328 # ZON OPTIMUS SGPS SA 20,678 141,834 ---------- TOTAL PORTUGAL 4,751,005 ---------- RUSSIA -- (0.0%) * Alliance Oil Co., Ltd. 7,242 64,369 ---------- SINGAPORE -- (1.4%) * Abterra, Ltd. 40,000 17,576 Amara Holdings, Ltd. 90,000 40,157 Amtek Engineering, Ltd. 16,000 6,173 ASL Marine Holdings, Ltd. 74,200 39,674 # Ausgroup, Ltd. 171,061 40,643 Banyan Tree Holdings, Ltd. 84,000 45,687 # Biosensors International Group, Ltd. 358,000 270,690 Boustead Singapore, Ltd. 75,000 90,866 Breadtalk Group, Ltd. 23,000 17,040 Bukit Sembawang Estates, Ltd. 29,000 143,494 Bund Center Investment, Ltd. 88,000 14,476 CapitaLand, Ltd. 377,101 944,823 CH Offshore, Ltd. 65,000 22,194 China Aviation Oil Singapore Corp., Ltd. 54,000 40,421 Chip Eng Seng Corp., Ltd. 245,000 138,879 City Developments, Ltd. 20,000 165,545 Cityspring Infrastructure Trust 55,000 21,237 ComfortDelGro Corp., Ltd. 91,000 140,520 # Cosco Corp. Singapore, Ltd. 417,000 262,876 Creative Technology, Ltd. 3,750 6,665 CSE Global, Ltd. 103,000 78,245 CWT, Ltd. 56,000 62,627 DBS Group Holdings, Ltd. 74,889 1,009,614 * Delong Holdings, Ltd. 33,000 9,532 Dyna-Mac Holdings, Ltd. 60,000 19,294 Elec & Eltek International Co., Ltd. 14,000 27,438 Eu Yan Sang International, Ltd. 20,000 12,062 Ezion Holdings, Ltd. 12,000 21,598 #* Ezra Holdings, Ltd. 335,000 361,046 Falcon Energy Group, Ltd. 64,000 20,008 Far East Orchard, Ltd. 48,984 77,220 First Resources, Ltd. 51,000 80,015 FJ Benjamin Holdings, Ltd. 75,000 14,769 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- -------- SINGAPORE -- (Continued) * Forterra Trust 8,000 $ 13,975 # Fragrance Group, Ltd. 116,000 19,141 Freight Links Express Holdings, Ltd. 414,363 35,672 * Gallant Venture, Ltd. 51,000 11,266 Genting Singapore P.L.C. 48,000 58,728 GMG Global, Ltd. 1,285,000 104,452 Golden Agri-Resources, Ltd. 1,156,000 558,188 Goodpack, Ltd. 66,000 101,736 Great Eastern Holdings, Ltd. 2,000 29,142 GuocoLand, Ltd. 53,333 96,562 GuocoLeisure, Ltd. 109,000 72,304 * Healthway Medical Corp., Ltd. 184,125 9,933 HG Metal Manufacturing, Ltd. 123,000 7,807 Hi-P International, Ltd. 76,000 36,980 Hiap Hoe, Ltd. 39,000 25,389 Ho Bee Land, Ltd. 88,000 145,699 Hong Fok Corp., Ltd. 106,800 61,425 Hong Leong Asia, Ltd. 41,000 47,993 Hotel Grand Central, Ltd. 6,335 5,398 Hotel Properties, Ltd. 80,000 202,115 Hour Glass, Ltd. (The) 36,000 48,986 HTL International Holdings, Ltd. 41,000 10,549 Hutchison Port Holdings Trust 442,000 322,567 Hwa Hong Corp., Ltd. 21,000 5,238 # Hyflux, Ltd. 49,500 46,161 # Indofood Agri Resources, Ltd. 226,000 165,438 InnoTek, Ltd. 37,000 10,147 * Interra Resources, Ltd. 125,000 40,735 IPC Corp., Ltd. 238,000 29,434 Jardine Cycle & Carriage, Ltd. 4,000 117,883 Jaya Holdings, Ltd. 94,000 51,790 * Jiutian Chemical Group, Ltd. 221,000 15,618 K-Green Trust 22,400 18,476 K1 Ventures, Ltd. 393,000 57,658 Keppel Corp., Ltd. 19,000 165,800 Keppel Land, Ltd. 203,390 606,357 Keppel Telecommunications & Transportation, Ltd. 42,000 52,675 Koh Brothers Group, Ltd. 175,000 41,573 LC Development, Ltd. 128,000 15,857 * Li Heng Chemical Fibre Technologies, Ltd. 115,000 11,413 Lian Beng Group, Ltd. 173,000 77,231 Low Keng Huat Singapore, Ltd. 78,000 43,014 M1, Ltd. 23,000 63,028 * Manhattan Resources, Ltd. 47,000 12,646 Marco Polo Marine, Ltd. 39,000 11,748 Mermaid Maritime PCL 3,000 784 Mewah International, Inc. 83,000 32,103 # Midas Holdings, Ltd. 519,000 208,392 Nam Cheong Ltd 316,000 72,522 #* Neptune Orient Lines, Ltd. 253,250 215,711 Noble Group, Ltd. 1,167,000 964,196 NSL, Ltd. 16,000 18,421 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- -------- SINGAPORE -- (Continued) #* Oceanus Group, Ltd. 1,037,000 $ 12,474 # Olam International, Ltd. 432,000 534,451 # OSIM International, Ltd. 44,000 74,716 * Otto Marine, Ltd. 166,500 7,078 # OUE, Ltd. 127,000 247,211 Oversea-Chinese Banking Corp., Ltd. 50,269 420,525 Pan-United Corp., Ltd. 47,000 36,430 Popular Holdings, Ltd. 116,000 23,830 QAF, Ltd. 75,821 51,227 * Raffles Education Corp., Ltd. 189,420 45,737 Raffles Medical Group, Ltd. 12,000 30,814 Rotary Engineering, Ltd. 80,000 41,514 * S I2I, Ltd. 356,000 5,150 SATS, Ltd. 43,380 118,683 See Hup Seng, Ltd. 195,000 46,932 SembCorp Industries, Ltd. 37,000 158,191 # SembCorp Marine, Ltd. 22,000 79,587 SIA Engineering Co., Ltd. 11,000 44,688 Sim Lian Group, Ltd. 51,000 36,744 # Sinarmas Land, Ltd. 547,000 241,658 Singapore Airlines, Ltd. 98,000 822,062 Singapore Exchange, Ltd. 23,000 135,692 Singapore Land, Ltd. 22,000 153,585 Singapore Post, Ltd. 144,000 151,802 # Singapore Press Holdings, Ltd. 58,000 198,400 Singapore Technologies Engineering, Ltd. 33,000 111,896 Singapore Telecommunications, Ltd. 86,000 261,163 * Sino Grandness Food Industry Group, Ltd. 116,000 66,698 SMRT Corp., Ltd. 25,000 26,146 Stamford Land Corp., Ltd. 154,000 70,593 StarHub, Ltd. 20,000 71,515 Sunningdale Tech, Ltd. 143,000 14,591 * SunVic Chemical Holdings, Ltd. 90,000 31,508 Super Group, Ltd. 22,000 74,387 Swiber Holdings, Ltd. 217,000 109,240 Swissco Holdings, Ltd. 48,000 10,996 # Tat Hong Holdings, Ltd. 172,000 129,226 * Tiger Airways Holdings, Ltd. 23,000 9,616 Tiong Woon Corp. Holding, Ltd. 136,000 35,477 * Triyards holdings, Ltd. 21,900 11,962 Tuan Sing Holdings, Ltd. 158,453 40,813 UMS Holdings, Ltd. 97,000 43,364 # United Engineers, Ltd. 164,000 244,216 # United Envirotech, Ltd. 116,000 77,858 United Industrial Corp., Ltd. 103,000 254,369 United Overseas Bank, Ltd. 25,045 419,419 UOB-Kay Hian Holdings, Ltd. 93,000 124,412 UOL Group, Ltd. 52,000 275,229 # UPP Holdings, Ltd. 134,000 28,494 * Vard Holdings, Ltd. 175,000 123,672 Venture Corp., Ltd. 107,000 670,075 Wee Hur Holdings, Ltd. 112,000 28,872 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- SINGAPORE -- (Continued) Wheelock Properties Singapore, Ltd. 24,000 $ 32,843 Wilmar International, Ltd. 93,000 258,683 Wing Tai Holdings, Ltd. 159,768 283,673 Yeo Hiap Seng, Ltd. 10,160 20,818 Yongnam Holdings, Ltd. 458,000 88,507 ----------- TOTAL SINGAPORE 17,230,672 ----------- SPAIN -- (2.2%) # Abengoa SA 9,419 29,113 # Abengoa SA Class B 63,515 153,800 Abertis Infraestructuras SA 8,539 182,940 # Acciona SA 9,280 588,281 # Acerinox SA 23,261 306,612 ACS Actividades de Construccion y Servicios SA 5,409 177,432 Adveo Group International SA 2,843 53,158 Almirall SA 16,370 244,613 # Amadeus IT Holding SA Class A 8,964 332,585 Atresmedia Corporacion de Medi 5,451 91,070 Banco Bilbao Vizcaya Argentaria SA 106,270 1,241,973 # Banco Bilbao Vizcaya Argentaria SA Sponsored ADR 34,954 408,263 Banco de Sabadell SA 872,241 2,234,946 * Banco Popular Espanol SA 406,071 2,303,382 Banco Santander SA 288,859 2,560,815 Banco Santander SA Sponsored ADR 54,902 489,177 * Bankia SA 47,302 70,578 Bankinter SA 169,690 1,034,621 * Baron de Ley 967 81,963 Bolsas y Mercados Espanoles SA 9,575 358,012 CaixaBank 210,858 1,092,909 * Caja de Ahorros del Mediterraneo 8,736 -- * Campofrio Food Group SA 1,520 12,172 * Cementos Portland Valderrivas SA 3,058 28,258 Cie Automotive SA 11,237 121,892 * Codere SA 530 1,027 Construcciones y Auxiliar de Ferrocarriles SA 403 209,253 * Deoleo SA 275,264 156,737 Dinamia Capital Privado Sociedad de Capital Riesgo SA 27 244 Distribuidora Internacional de Alimentacion SA 9,770 89,073 Duro Felguera SA 10,699 70,012 Ebro Foods SA 17,048 384,570 Elecnor SA 4,468 65,389 Enagas SA 11,728 313,138 Ence Energia y Celulosa SA 61,606 247,419 * Ercros SA 29,067 22,134 Faes Farma SA 32,629 117,243 Ferrovial SA 15,481 295,095 Fluidra SA 921 3,147 * Fomento de Construcciones y Contratas SA 10,898 250,753 * Gamesa Corp. Tecnologica SA 83,192 803,392 Gas Natural SDG SA 18,758 442,429 Grifols SA 2,915 119,476 Grupo Catalana Occidente SA 7,919 267,915 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- SPAIN -- (Continued) Iberdrola SA 231,235 $ 1,451,426 Iberpapel Gestion SA 130 2,697 Indra Sistemas SA 28,349 467,498 * Inmobiliaria Colonial SA 1,264 2,077 * Jazztel P.L.C. 25,956 284,292 Laboratorios Farmaceuticos Rovi SA 1,442 17,349 Mapfre SA 28,196 113,226 * Mediaset Espana Comunicacion SA 26,138 318,996 # Melia Hotels International SA 13,052 147,774 Miquel y Costas & Miquel SA 1,681 64,971 #* NH Hoteles SA 45,530 237,628 Obrascon Huarte Lain SA 9,076 380,143 Papeles y Cartones de Europa SA 12,397 66,468 * Pescanova SA 4,776 -- #* Promotora de Informaciones SA Class A 67,092 34,053 Prosegur Cia de Seguridad SA 27,551 163,464 * Realia Business SA 14,616 15,833 Red Electrica Corp. SA 6,175 384,484 Repsol SA 30,147 808,273 Repsol SA Sponsored ADR 8,778 234,724 * Sacyr SA 122,318 658,301 * Service Point Solutions SA 26,100 5,856 * Solaria Energia y Medio Ambiente SA 8,257 9,077 Tecnicas Reunidas SA 4,248 218,653 * Telefonica SA 36,613 644,364 * Telefonica SA Sponsored ADR 7,184 125,504 Tubacex SA 25,955 99,923 Tubos Reunidos SA 23,431 58,386 Vidrala SA 4,088 175,024 Viscofan SA 5,843 309,947 * Vocento SA 845 1,694 Zardoya Otis SA 5,313 92,428 * Zeltia SA 29,324 101,029 ----------- TOTAL SPAIN 25,752,573 ----------- SWEDEN -- (2.8%) AarhusKarlshamn AB 3,387 200,387 Acando AB 18,648 36,585 * Active Biotech AB 1,997 22,160 AddTech AB Class B 1,162 52,978 AF AB Class B 13,574 428,810 Alfa Laval AB 6,568 149,821 * Arise AB 1,403 5,137 Assa Abloy AB Class B 7,786 386,319 Atrium Ljungberg AB Class B 485 6,611 Avanza Bank Holding AB 1,688 54,272 Axfood AB 2,348 121,425 # Axis Communications AB 3,786 130,645 B&B Tools AB Class B 8,255 113,142 * BE Group AB 8,493 14,859 Beijer AB G&L Class B 5,568 116,733 Beijer Alma AB 4,510 117,774 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- SWEDEN -- (Continued) Beijer Electronics AB 728 $ 7,663 Betsson AB 2,228 69,995 Bilia AB Class A 8,205 198,698 # BillerudKorsnas AB 69,816 819,041 BioGaia AB Class B 778 26,500 Biotage AB 10,917 17,000 # Bjoern Borg AB 5,637 25,097 Boliden AB 86,541 1,229,143 Bure Equity AB 29,402 113,618 Byggmax Group AB 9,852 74,058 Castellum AB 16,789 257,791 Cavotec SA 1,266 6,502 Cision AB 537 2,703 # Clas Ohlson AB Class B 6,555 103,223 #* Cloetta AB Class B 2,869 8,969 Concentric AB 8,712 89,611 Concordia Maritime AB Class B 10,317 18,336 Dios Fastigheter AB 4,962 32,001 Doro AB 6,042 43,983 Duni AB 10,927 123,030 * East Capital Explorer AB 2,826 23,839 Electrolux AB Series B 25,236 622,445 # Elekta AB Class B 13,870 204,848 #* Eniro AB 47,510 206,418 Fabege AB 14,610 168,103 * Fastighets AB Balder 5,442 48,005 FinnvedenBulten AB 3,380 21,857 Getinge AB Class B 8,594 272,260 Gunnebo AB 22,223 127,617 Haldex AB 25,076 181,605 Hexagon AB Class B 16,888 506,383 Hexpol AB 3,972 298,430 HIQ International AB 12,845 74,445 Holmen AB Class B 24,064 799,335 Hufvudstaden AB Class A 2,399 31,400 Husqvarna AB Class A 16,643 97,697 Husqvarna AB Class B 98,080 576,270 * ICA Gruppen AB 10,884 328,941 Industrial & Financial Systems Class B 6,123 140,631 Indutrade AB 2,347 91,781 Intrum Justitia AB 10,476 278,550 JM AB 18,204 518,582 #* KappAhl AB 25,937 153,354 * Karolinska Development AB Class B 1,834 9,413 Klovern AB 4,341 19,255 # KNOW IT AB 5,593 47,578 Kungsleden AB 21,169 155,488 Lagercrantz AB Class B 3,413 59,249 #* Lindab International AB 29,018 282,530 Loomis AB Class B 17,254 413,592 * Lundin Petroleum AB 7,830 161,362 Meda AB Class A 118,001 1,324,146 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- SWEDEN -- (Continued) #* Medivir AB Class B 8,374 $ 109,591 # Mekonomen AB 3,344 110,272 * Micronic Mydata AB 22,549 45,230 Millicom International Cellular SA 1,642 151,485 Modern Times Group AB Class B 5,532 301,745 MQ Holding AB 4,252 11,797 NCC AB Class A 516 16,120 NCC AB Class B 25,122 772,735 Net Entertainment NE AB Class B 2,208 42,726 * Net Insight AB Class B 44,491 9,398 New Wave Group AB Class B 15,274 86,764 # Nibe Industrier AB Class B 10,600 203,232 Nobia AB 39,782 346,315 Nolato AB Class B 10,629 216,895 Nordea Bank AB 121,882 1,559,055 Nordnet AB Class B 31,007 132,415 OEM International AB Class B 1,100 12,724 * Orexo AB 3,654 73,194 * PA Resources AB 1,706 2,633 # Peab AB 78,175 459,648 # Pricer AB Class B 45,176 50,787 # Proact IT Group AB 1,449 15,824 Proffice AB Class B 15,374 58,548 # Ratos AB Class B 68,201 590,206 ReadSoft AB Class B 7,704 23,323 * Rezidor Hotel Group AB 18,581 105,738 Saab AB Class B 19,570 391,763 Sandvik AB 12,989 175,508 * SAS AB 66,288 198,346 Scania AB Class B 7,652 153,371 Securitas AB Class B 32,941 375,625 Semcon AB 5,805 63,223 Skandinaviska Enskilda Banken AB Class A 137,821 1,666,953 Skanska AB Class B 33,936 653,413 SKF AB Class B 11,655 308,383 SkiStar AB 7,619 101,649 # SSAB AB Class A 75,841 498,923 SSAB AB Class B 25,655 144,746 Svenska Cellulosa AB Class A 5,303 149,866 Svenska Cellulosa AB Class B 56,655 1,606,237 Svenska Handelsbanken AB Class A 23,469 1,061,422 Svenska Handelsbanken AB Class B 918 39,732 Sweco AB Class B 2,946 37,215 Swedbank AB Class A 42,611 1,109,008 Swedish Match AB 7,575 249,769 * Swedish Orphan Biovitrum AB 38,402 367,057 Systemair AB 819 14,413 Tele2 AB Class B 100,011 1,205,474 Telefonaktiebolaget LM Ericsson Class A 4,300 48,555 Telefonaktiebolaget LM Ericsson Class B 89,987 1,076,354 Telefonaktiebolaget LM Ericsson Sponsored ADR 900 10,791 TeliaSonera AB 62,537 517,118 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- SWEDEN -- (Continued) * TradeDoubler AB 8,288 $ 22,895 #* Transcom WorldWide SA 106,474 21,186 # Transmode AB 1,412 23,343 Trelleborg AB Class B 62,039 1,170,655 Unibet Group P.L.C. 6,163 247,238 Vitrolife AB 850 10,403 Volvo AB Class A 7,822 100,511 Volvo AB Class B 28,957 371,660 Wallenstam AB Class B 10,848 150,428 Wihlborgs Fastigheter AB 8,920 153,849 ----------- TOTAL SWEDEN 33,475,511 ----------- SWITZERLAND -- (6.1%) ABB, Ltd. 48,571 1,237,470 ABB, Ltd. Sponsored ADR 16,820 428,405 * Acino Holding AG 1,178 149,248 # Actelion, Ltd. 5,342 413,313 Adecco SA 20,728 1,528,560 * AFG Arbonia-Forster Holding AG 6,902 239,234 Allreal Holding AG 4,627 636,153 Alpiq Holding AG 709 93,640 ALSO Holding AG 321 16,759 ams AG 2,877 314,117 APG SGA SA 101 26,778 Aryzta AG 25,690 1,916,536 Ascom Holding AG 11,611 171,245 Autoneum Holding AG 1,132 150,713 # Bachem Holding AG Class B 888 50,748 Baloise Holding AG 12,940 1,503,290 Bank Coop AG 1,479 77,675 Banque Cantonale de Geneve 163 41,658 Banque Cantonale Vaudoise 1,080 600,117 Banque Privee Edmond de Rothschild SA 1 17,561 Barry Callebaut AG 175 182,795 Basilea Pharmaceutica 1,305 142,125 Basler Kantonalbank 599 50,410 Belimo Holding AG 60 154,647 Bell AG 32 78,320 Bellevue Group AG 1,194 17,125 Berner Kantonalbank AG 1,342 334,365 BKW AG 1,079 37,477 * Bobst Group AG 3,037 107,195 Bossard Holding AG 987 200,756 Bucher Industries AG 2,713 751,311 Burckhardt Compression Holding AG 467 187,135 Burkhalter Holding AG 580 46,977 Centralschweizerische Kraftwerke AG 31 9,897 Cham Paper Holding AG 17 4,485 * Charles Voegele Holding AG 3,608 46,448 Cie Financiere Richemont SA 9,818 1,003,887 Cie Financiere Tradition SA 319 17,267 Clariant AG 81,492 1,435,876 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- SWITZERLAND -- (Continued) Coltene Holding AG 1,771 $ 91,502 Conzzeta AG 35 72,603 Credit Suisse Group AG 144,732 4,502,315 Credit Suisse Group AG Sponsored ADR 32,223 1,003,102 Daetwyler Holding AG 1,515 192,649 DKSH Holding AG 507 42,300 * Dufry AG 7,172 1,158,758 # EFG International AG 21,411 315,024 Emmi AG 849 244,274 EMS-Chemie Holding AG 439 159,859 Energiedienst Holding AG 1,258 43,059 * Evolva Holding SA 4,494 4,353 Flughafen Zuerich AG 1,734 960,959 Forbo Holding AG 614 481,455 Galenica AG 1,008 890,877 GAM Holding AG 84,859 1,585,663 * Gategroup Holding AG 8,954 234,500 Geberit AG 739 220,787 Georg Fischer AG 1,719 1,184,129 Givaudan SA 282 399,929 Gurit Holding AG 167 77,589 Helvetia Holding AG 2,564 1,209,282 Holcim, Ltd. 29,383 2,185,491 Huber & Suhner AG 4,905 268,233 Implenia AG 4,903 330,191 Inficon Holding AG 488 152,086 Interroll Holding AG 209 100,578 Intershop Holdings 128 46,420 Julius Baer Group, Ltd. 47,955 2,352,468 Jungfraubahn Holding AG 27 1,932 Kaba Holding AG Class B 1,050 449,284 Kardex AG 1,349 58,778 Komax Holding AG 1,514 207,194 Kudelski SA 18,052 248,969 Kuehne + Nagel International AG 1,113 140,606 Kuoni Reisen Holding AG 1,568 662,786 LEM Holding SA 94 69,368 Liechtensteinische Landesbank AG 2,216 87,801 Lindt & Spruengli AG 3 150,779 # Logitech International SA(B18ZRK2) 46,055 471,711 # Logitech International SA(H50430232) 10,443 107,458 Lonza Group AG 23,146 2,066,079 Luzerner Kantonalbank AG 1,124 448,441 MCH Group AG 354 23,620 Metall Zug AG 51 122,501 #* Meyer Burger Technology AG 34,653 406,609 Micronas Semiconductor Holding AG 10,545 86,310 Mikron Holding AG 4,766 27,982 Mobilezone Holding AG 7,511 77,846 Mobimo Holding AG 2,138 447,723 Nestle SA 61,616 4,447,684 Nobel Biocare Holding AG 9,798 161,641 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- SWITZERLAND -- (Continued) Novartis AG 15,748 $1,222,400 Novartis AG ADR 28,202 2,187,065 OC Oerlikon Corp. AG 73,664 1,029,836 * Orascom Development Holding AG 1,261 17,967 #* Orell Fuessli Holding AG 184 18,498 Orior AG 1,013 56,933 Panalpina Welttransport Holding AG 1,819 271,853 Partners Group Holding AG 592 153,460 Phoenix Mecano AG 248 148,349 PSP Swiss Property AG 1,506 129,439 PubliGroupe AG 558 55,247 Rieter Holding AG 1,444 302,319 Romande Energie Holding SA 52 64,998 Schaffner Holding AG 172 47,830 Schindler Holding AG 551 78,414 * Schmolz + Bickenbach AG 259,128 327,951 Schweiter Technologies AG 395 265,271 Schweizerische National-Versicherungs-Gesellschaft AG 4,604 227,544 SGS SA 82 191,860 Siegfried Holding AG 1,343 221,431 Sika AG 203 639,947 Sonova Holding AG 2,091 272,125 St Galler Kantonalbank AG 799 324,940 Straumann Holding AG 601 119,455 Sulzer AG 6,928 1,083,817 Swatch Group AG (The)(7184725) 943 602,286 Swatch Group AG (The)(7184736) 1,622 180,468 Swiss Life Holding AG 8,740 1,732,970 Swiss Re AG 48,833 4,286,688 Swisscom AG 563 287,161 Swisslog Holding AG 74,559 87,013 Swissquote Group Holding SA 3,840 157,186 Syngenta AG 577 232,887 Syngenta AG ADR 2,693 217,460 Tamedia AG 359 42,665 Tecan Group AG 1,458 152,189 Temenos Group AG 6,344 161,654 * Tornos Holding AG 2,333 11,542 U-Blox AG 2,408 217,253 UBS AG(B18YFJ4) 68,935 1,333,276 UBS AG(H89231338) 86,511 1,674,853 Valiant Holding 5,293 493,766 Valora Holding AG 1,158 286,113 Vaudoise Assurances Holding SA Class B 298 126,006 Verwaltungs- und Privat-Bank AG 1,155 111,963 Vetropack Holding AG 68 135,860 #* Von Roll Holding AG 12,622 21,018 Vontobel Holding AG 10,159 406,634 Walliser Kantonalbank 41 34,289 Walter Meier AG 525 33,394 Ypsomed Holding AG 784 50,076 # Zehnder Group AG 2,903 136,733 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- SWITZERLAND -- (Continued) Zug Estates Holding AG 50 $ 64,930 Zuger Kantonalbank AG 22 114,951 Zurich Insurance Group AG 17,448 4,821,287 ----------- TOTAL SWITZERLAND 73,578,775 ----------- UNITED KINGDOM -- (16.2%) 4imprint Group P.L.C. 979 9,871 888 Holdings P.L.C. 44,583 113,618 A.G.BARR P.L.C. 7,158 60,143 Aberdeen Asset Management P.L.C. 71,672 508,644 Acal P.L.C. 3,887 20,807 Admiral Group P.L.C. 3,611 73,932 * Afren P.L.C. 349,052 882,316 African Barrick Gold P.L.C. 30,305 93,639 * Aga Rangemaster Group P.L.C. 43,446 89,959 Aggreko P.L.C. 16,819 433,699 Alent P.L.C. 80,464 447,178 AMEC P.L.C. 50,157 945,971 Amlin P.L.C. 181,895 1,242,809 Anglo American P.L.C. 146,774 3,489,782 Anglo Pacific Group P.L.C. 11,607 41,311 Anglo-Eastern Plantations 19 206 Anite P.L.C. 44,555 64,340 Antofagasta P.L.C. 8,353 114,160 ARM Holdings P.L.C. 29,062 455,390 ARM Holdings P.L.C. Sponsored ADR 1,286 60,686 Ashmore Group P.L.C. 59,922 388,301 Ashtead Group P.L.C. 99,963 1,050,426 Associated British Foods P.L.C. 18,738 681,219 AstraZeneca P.L.C. 956 50,611 AstraZeneca P.L.C. Sponsored ADR 14,312 756,532 Aviva P.L.C. 255,520 1,834,355 # Aviva P.L.C. Sponsored ADR 10,982 158,580 AZ Electronic Materials SA 5,612 25,781 Babcock International Group P.L.C. 25,241 516,153 BAE Systems P.L.C. 88,658 646,715 Balfour Beatty P.L.C. 194,967 891,635 Bank of Georgia Holdings P.L.C. 2,848 90,043 Barclays P.L.C. 260,766 1,097,162 # Barclays P.L.C. Sponsored ADR 87,647 1,473,346 Barratt Developments P.L.C. 423,037 2,268,564 BBA Aviation P.L.C. 119,402 647,186 Beazley P.L.C. 218,947 802,576 Bellway P.L.C. 44,246 1,065,726 Berendsen P.L.C. 45,163 703,321 Berkeley Group Holdings P.L.C. 31,449 1,178,869 Betfair Group P.L.C. 3,778 60,933 BG Group P.L.C. 78,730 1,606,066 BHP Billiton P.L.C. 3,376 104,178 BHP Billiton P.L.C. ADR 8,444 520,488 Bloomsbury Publishing P.L.C. 1,311 3,622 Bodycote P.L.C. 57,886 610,177 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- UNITED KINGDOM -- (Continued) Booker Group P.L.C. 293,383 $ 706,624 Bovis Homes Group P.L.C. 60,782 764,665 BP P.L.C. 297,377 2,308,419 BP P.L.C. Sponsored ADR 103,538 4,814,517 Braemar Shipping Services P.L.C. 1,360 11,699 Brammer P.L.C. 2,864 22,151 Brewin Dolphin Holdings P.L.C. 68,779 313,588 British Polythene Industries P.L.C. 9,605 105,241 British Sky Broadcasting Group P.L.C. 21,401 321,549 Britvic P.L.C. 33,608 336,484 BT Group P.L.C. Sponsored ADR 478 28,981 * BTG P.L.C. 82,669 556,280 Bunzl P.L.C. 16,317 359,937 Burberry Group P.L.C. 11,738 288,444 Bwin.Party Digital Entertainment P.L.C. 239,243 470,044 Cable & Wireless Communications P.L.C. 230,845 173,187 * Cairn Energy P.L.C. 180,440 817,602 Cape P.L.C. 39,239 173,583 Capita P.L.C. 21,643 342,136 Capital & Counties Properties P.L.C. 1,729 9,616 Capital & Regional P.L.C. 34,857 24,152 Carclo P.L.C. 6,128 36,927 Carillion P.L.C. 150,282 732,174 Carnival P.L.C. 18,712 665,067 Carnival P.L.C. ADR 1,783 63,475 Carr's Milling Industries P.L.C. 11 306 Castings P.L.C. 9,986 69,244 Catlin Group, Ltd. 111,610 916,876 * Centamin P.L.C. 111,149 89,472 Centaur Media P.L.C. 3,412 3,067 Centrica P.L.C. 164,860 932,404 Chemring Group P.L.C. 87,558 305,555 Chesnara P.L.C. 34,766 162,899 Chime Communications P.L.C. 8,606 43,689 Cineworld Group P.L.C. 41,585 247,296 Clarkson P.L.C. 1,048 33,770 Close Brothers Group P.L.C. 53,687 1,087,256 Cobham P.L.C. 228,631 1,055,888 Coca-Cola HBC AG 7,546 217,027 Coca-Cola HBC AG ADR 7,574 218,586 * Colt Group SA 101,130 199,832 Communisis P.L.C. 43,634 44,173 Compass Group P.L.C. 32,221 463,377 Computacenter P.L.C. 28,553 270,687 Consort Medical P.L.C. 7,985 113,861 Costain Group P.L.C. 2,521 11,425 Cranswick P.L.C. 17,194 295,615 Creston P.L.C. 3,606 5,799 Croda International P.L.C. 6,284 245,564 CSR P.L.C. 80,884 712,461 CSR P.L.C. ADR 700 24,668 Daily Mail & General Trust P.L.C. 24,955 325,483 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- UNITED KINGDOM -- (Continued) Dairy Crest Group P.L.C. 44,378 $ 382,181 DCC P.L.C. 20,772 930,180 De La Rue P.L.C. 8,843 121,199 Debenhams P.L.C. 497,111 810,950 Dechra Pharmaceuticals P.L.C. 12,339 136,684 Development Securities P.L.C. 26,706 100,115 Devro P.L.C. 26,558 134,913 Dignity P.L.C. 6,979 155,992 Diploma P.L.C. 26,908 298,870 * Dixons Retail P.L.C. 841,967 659,682 Domino Printing Sciences P.L.C. 23,680 262,238 Domino's Pizza Group P.L.C. 8,282 77,669 Drax Group P.L.C. 131,157 1,339,027 DS Smith P.L.C. 259,680 1,258,652 Dunelm Group P.L.C. 4,800 68,166 E2V Technologies P.L.C. 19,164 44,244 easyJet P.L.C. 45,711 957,514 Electrocomponents P.L.C. 148,385 709,388 Elementis P.L.C. 143,104 594,046 * EnQuest P.L.C. 186,651 399,053 * Enterprise Inns P.L.C. 226,655 550,651 * Essar Energy P.L.C. 78,801 150,076 * Eurasian Natural Resources Corp. P.L.C. 32,258 116,228 Euromoney Institutional Investor P.L.C. 5,292 91,257 * Evraz P.L.C. 33,809 63,898 * Exillon Energy P.L.C. 17,069 64,990 Experian P.L.C. 22,850 465,194 F&C Asset Management P.L.C. 175,186 284,965 Fenner P.L.C. 45,184 289,491 Ferrexpo P.L.C. 58,364 169,477 Fiberweb P.L.C. 53,177 86,703 Fidessa Group P.L.C. 6,338 205,495 Filtrona P.L.C. 35,177 442,277 * Findel P.L.C. 15,229 62,152 Firstgroup P.L.C. 326,005 602,906 Fortune Oil P.L.C. 197,966 31,274 Fresnillo P.L.C. 219 3,424 Fuller Smith & Turner P.L.C. 7,612 110,633 G4S P.L.C. 96,074 403,540 Galliford Try P.L.C. 24,154 444,672 * Gem Diamonds, Ltd. 35,729 91,227 Genus P.L.C. 10,956 231,532 GKN P.L.C. 144,762 852,754 Glencore Xstrata P.L.C. 235,725 1,282,869 Go-Ahead Group P.L.C. 7,593 204,676 Grafton Group P.L.C. 58,776 558,255 Greencore Group P.L.C. 150,466 433,829 Greene King P.L.C. 77,147 1,020,870 Greggs P.L.C. 15,704 115,713 Halfords Group P.L.C. 65,596 444,275 Halma P.L.C. 26,394 231,833 * Hardy Oil & Gas P.L.C. 8,461 14,372 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- UNITED KINGDOM -- (Continued) Hargreaves Lansdown P.L.C. 15,573 $ 296,670 Hays P.L.C. 239,857 478,729 Headlam Group P.L.C. 17,739 112,749 Helical Bar P.L.C. 39,593 190,492 Henderson Group P.L.C. 236,000 810,069 * Heritage Oil P.L.C. 45,942 136,533 Hikma Pharmaceuticals P.L.C. 26,976 518,964 Hill & Smith Holdings P.L.C. 22,827 175,874 Hiscox, Ltd. 109,104 1,158,287 Hochschild Mining P.L.C. 22,123 58,665 Hogg Robinson Group P.L.C. 4,980 6,091 Home Retail Group P.L.C. 403,251 1,286,578 Homeserve P.L.C. 70,561 265,116 Howden Joinery Group P.L.C. 77,176 399,129 HSBC Holdings P.L.C. 24,745 271,238 # HSBC Holdings P.L.C. Sponsored ADR 175,852 9,678,894 Hunting P.L.C. 37,750 539,325 Huntsworth P.L.C. 26,705 28,012 Hyder Consulting P.L.C. 977 8,533 ICAP P.L.C. 127,930 789,967 IG Group Holdings P.L.C. 25,728 252,855 * Imagination Technologies Group P.L.C. 7,952 35,412 IMI P.L.C. 13,132 319,488 Imperial Tobacco Group P.L.C. 12,246 457,191 Inchcape P.L.C. 140,592 1,435,430 Informa P.L.C. 109,445 980,455 Inmarsat P.L.C. 46,900 541,307 * Innovation Group P.L.C. 212,640 108,293 InterContinental Hotels Group P.L.C. 7,139 207,994 InterContinental Hotels Group P.L.C. ADR 1,026 30,113 * International Consolidated Airlines Group SA 189,265 1,053,382 * International Ferro Metals, Ltd. 82,212 11,619 International Personal Finance P.L.C. 31,376 289,964 Interserve P.L.C. 39,200 386,375 Intertek Group P.L.C. 4,367 232,976 Invensys P.L.C. 65,724 527,410 Investec P.L.C. 115,695 809,473 * IP Group P.L.C. 66,786 157,432 ITE Group P.L.C. 39,030 201,748 ITV P.L.C. 239,315 731,725 J Sainsbury P.L.C. 123,819 783,220 James Fisher & Sons P.L.C. 12,757 227,750 Jardine Lloyd Thompson Group P.L.C. 12,336 197,707 JD Sports Fashion P.L.C. 3,602 65,633 JD Wetherspoon P.L.C. 25,154 284,454 * JKX Oil & Gas P.L.C. 19,692 23,514 John Menzies P.L.C. 6,307 82,864 John Wood Group P.L.C. 87,489 1,139,142 Johnson Matthey P.L.C. 13,111 630,963 * Johnston Press P.L.C. 72,415 15,713 Jupiter Fund Management P.L.C. 67,233 429,903 # Kazakhmys P.L.C. 30,979 130,338 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- UNITED KINGDOM -- (Continued) Kcom Group P.L.C. 91,335 $ 146,942 Keller Group P.L.C. 28,023 472,011 Kier Group P.L.C. 5,084 147,213 Kingfisher P.L.C. 232,192 1,404,632 * Kofax P.L.C. 16,410 99,789 Ladbrokes P.L.C. 173,654 531,521 Laird P.L.C. 104,682 418,764 * Lamprell P.L.C. 99,644 261,990 Lancashire Holdings, Ltd. 60,286 784,457 Laura Ashley Holdings P.L.C. 22,105 9,370 Lavendon Group P.L.C. 27,687 81,577 Legal & General Group P.L.C. 566,357 1,962,884 * Lloyds Banking Group P.L.C. 2,002,798 2,477,053 #* Lloyds Banking Group P.L.C. ADR 46,132 232,044 London Stock Exchange Group P.L.C. 24,527 644,667 * Lonmin P.L.C. 183,494 947,777 Lookers P.L.C. 63,385 131,982 Low & Bonar P.L.C. 21,333 26,332 LSL Property Services P.L.C. 1,287 9,351 Man Group P.L.C. 1,104,104 1,571,383 Management Consulting Group P.L.C. 29,849 11,722 Marks & Spencer Group P.L.C. 46,683 376,459 Marshalls P.L.C. 33,165 92,587 Marston's P.L.C. 284,236 692,075 McBride P.L.C. 40,404 70,932 Mears Group P.L.C. 26,230 180,028 Mecom Group P.L.C. 31,967 34,357 Meggitt P.L.C. 106,209 975,017 Melrose Industries P.L.C. 191,793 983,265 Michael Page International P.L.C. 15,548 120,686 Micro Focus International P.L.C. 14,470 189,657 Millennium & Copthorne Hotels P.L.C. 53,587 489,791 * Mitchells & Butlers P.L.C. 74,843 480,771 Mitie Group P.L.C. 83,344 420,084 MJ Gleeson Group P.L.C. 400 1,995 Mondi P.L.C. 70,018 1,250,237 Moneysupermarket.com Group P.L.C. 54,769 134,505 Morgan Advanced Materials P.L.C. 75,610 368,832 Morgan Sindall Group P.L.C. 12,820 163,438 * Mothercare P.L.C. 10,976 67,262 N Brown Group P.L.C. 43,294 363,824 National Express Group P.L.C. 170,973 715,654 NCC Group P.L.C. 21,546 56,546 New World Resources P.L.C. Class A 8 12 Next P.L.C. 3,701 323,197 Northgate P.L.C. 37,327 270,744 Novae Group P.L.C. 16,307 145,027 * Ocado Group P.L.C. 61,385 427,236 Old Mutual P.L.C. 627,407 2,044,744 * Optos P.L.C. 10,238 25,566 Oxford Instruments P.L.C. 4,148 86,500 Pace P.L.C. 95,540 466,577 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- UNITED KINGDOM -- (Continued) PayPoint P.L.C. 2,741 $ 45,728 Pearson P.L.C. 15,716 328,700 Pearson P.L.C. Sponsored ADR 19,843 416,703 Pendragon P.L.C. 129,184 78,712 Pennon Group P.L.C. 40,332 440,419 Persimmon P.L.C. 78,274 1,584,750 * Petra Diamonds, Ltd. 113,723 203,131 Petrofac, Ltd. 4,912 115,204 # Petropavlovsk P.L.C. 43,814 56,226 Phoenix Group Holdings 31,802 396,577 Phoenix IT Group, Ltd. 10,671 25,054 Photo-Me International P.L.C. 17,478 37,271 Playtech P.L.C. 13,513 159,233 Premier Farnell P.L.C. 71,785 259,393 * Premier Foods P.L.C. 97,106 234,541 Premier Oil P.L.C. 114,561 637,446 Prudential P.L.C. 68,348 1,397,768 Prudential P.L.C. ADR 800 32,768 * Punch Taverns P.L.C. 139,592 30,336 PZ Cussons P.L.C. 27,948 176,364 QinetiQ Group P.L.C. 126,269 400,750 * Quintain Estates & Development P.L.C. 189,233 294,619 Randgold Resources, Ltd. 810 60,071 Rathbone Brothers P.L.C. 6,944 181,593 Raven Russia Ltd 29,857 37,526 REA Holdings P.L.C. 1,822 11,707 Redrow P.L.C. 95,865 407,147 Reed Elsevier P.L.C. 4,912 68,809 # Reed Elsevier P.L.C. Sponsored ADR 1,724 96,854 Regus PLC 184,170 604,361 Renishaw P.L.C. 5,590 145,311 * Renold P.L.C. 12,120 8,372 Rentokil Initial P.L.C. 63,933 106,959 Resolution, Ltd. 479,648 2,746,351 Restaurant Group P.L.C. (The) 31,138 287,352 Rexam P.L.C. 119,290 993,335 Ricardo P.L.C. 10,783 105,418 Rightmove P.L.C. 7,424 315,477 Rio Tinto P.L.C. 5,471 276,833 Rio Tinto P.L.C. Sponsored ADR 23,107 1,171,525 RM P.L.C. 9,841 18,045 Robert Walters P.L.C. 16,237 84,395 Rolls-Royce Holdings P.L.C. 50,002 921,186 Rotork P.L.C. 4,681 214,466 * Royal Bank of Scotland Group P.L.C. 172,486 1,015,859 * Royal Bank of Scotland Group P.L.C. Sponsored ADR 13,214 155,661 Royal Dutch Shell P.L.C. ADR(780259206) 60,794 4,052,528 Royal Dutch Shell P.L.C. ADR(780259107) 88,550 6,155,996 Royal Dutch Shell P.L.C. Class A 331 11,024 Royal Dutch Shell P.L.C. Class B 6,539 226,380 RPC Group P.L.C. 42,576 348,302 RPS Group P.L.C. 73,097 340,708 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- UNITED KINGDOM -- (Continued) RSA Insurance Group P.L.C. 981,571 $2,021,573 SABMiller P.L.C. 11,226 585,332 Sage Group P.L.C. (The) 86,054 464,237 * Salamander Energy P.L.C. 73,080 125,860 Savills P.L.C. 35,438 369,159 Schroders P.L.C.(0239581) 6,062 206,820 Schroders P.L.C.(0240549) 10,034 414,127 SDL P.L.C. 17,586 71,101 Senior P.L.C. 99,694 475,765 Sepura P.L.C. 6,972 16,310 Serco Group P.L.C. 31,940 285,412 Severfield-Rowen P.L.C. 76,446 78,081 Severn Trent P.L.C. 9,288 277,244 Shanks Group P.L.C. 208,258 352,586 Shire P.L.C. 7,695 341,199 Shire P.L.C. ADR 1,800 239,580 SIG P.L.C. 254,991 841,392 Smith & Nephew P.L.C. 41,932 536,295 # Smith & Nephew P.L.C. Sponsored ADR 1,572 100,938 Smiths Group P.L.C. 24,897 573,014 Smiths News P.L.C. 33,764 113,841 Soco International P.L.C. 57,541 367,123 Spectris P.L.C. 16,688 617,919 Speedy Hire P.L.C. 184,578 192,633 Spirax-Sarco Engineering P.L.C. 5,480 256,260 Spirent Communications P.L.C. 122,722 217,462 Spirit Pub Co. P.L.C. 218,383 256,413 * Sportech P.L.C. 2,757 3,846 * Sports Direct International P.L.C. 27,263 306,384 SSE P.L.C. 32,443 735,974 St Ives P.L.C. 16,351 47,295 St James's Place P.L.C. 10,852 117,468 ST Modwen Properties P.L.C. 79,329 448,029 Stagecoach Group P.L.C. 49,509 279,345 Standard Chartered P.L.C. 70,024 1,681,275 Standard Life P.L.C. 196,883 1,110,754 Sthree P.L.C. 12,874 74,012 # Stobart Group, Ltd. 11,528 26,225 * SuperGroup P.L.C. 10,041 188,730 Synergy Health P.L.C. 18,241 302,835 Synthomer P.L.C. 61,324 239,108 TalkTalk Telecom Group P.L.C. 114,495 490,122 Tate & Lyle P.L.C. 41,563 527,473 Taylor Wimpey P.L.C. 883,661 1,559,101 Ted Baker P.L.C. 479 13,083 Telecity Group P.L.C. 11,035 134,907 Telecom Plus P.L.C. 3,222 79,617 Tesco P.L.C. 212,456 1,239,285 * Thomas Cook Group P.L.C. 326,900 752,384 Travis Perkins P.L.C. 57,999 1,724,748 Trifast P.L.C. 1,501 1,899 * Trinity Mirror P.L.C. 119,215 254,485 INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- -------------- UNITED KINGDOM -- (Continued) TT electronics P.L.C. 59,047 $ 188,469 TUI Travel P.L.C. 120,717 744,213 Tullett Prebon P.L.C. 90,769 462,362 Tullow Oil P.L.C. 10,521 159,027 UBM P.L.C. 11,248 123,127 UDG Healthcare P.L.C. 68,002 339,499 Ultra Electronics Holdings P.L.C. 9,560 296,453 Unite Group P.L.C. 34,118 216,873 United Utilities Group P.L.C. 27,797 314,382 UTV Media P.L.C. 4,124 15,038 * Vectura Group P.L.C. 96,721 171,070 Vedanta Resources P.L.C. 57,664 982,476 Vesuvius P.L.C. 118,156 918,570 Victrex P.L.C. 7,594 200,692 Vitec Group P.L.C. (The) 5,880 66,100 Vodafone Group P.L.C. Sponsored ADR 165,738 6,102,473 Volex P.L.C. 1,588 3,163 Weir Group P.L.C. (The) 13,620 491,930 WH Smith P.L.C. 30,611 441,765 Whitbread P.L.C. 13,322 732,591 William Hill P.L.C. 114,583 735,676 * Wincanton P.L.C. 8,167 16,639 WM Morrison Supermarkets P.L.C. 250,867 1,131,918 * Wolfson Microelectronics P.L.C. 14,929 33,547 Wolseley P.L.C. 11,053 594,972 WPP P.L.C. 53,556 1,137,579 WPP P.L.C. Sponsored ADR 13,042 1,389,495 WS Atkins P.L.C. 21,150 418,395 Xaar P.L.C. 1,530 20,551 Xchanging P.L.C. 59,342 120,474 -------------- TOTAL UNITED KINGDOM 194,695,766 -------------- UNITED STATES -- (0.0%) * McEwen Mining--Minera Andes Andes Acquisition Corp. 24,285 50,776 -------------- TOTAL COMMON STOCKS 1,081,642,560 -------------- PREFERRED STOCKS -- (0.0%) FRANCE -- (0.0%) * Valneva SE 1 1 -------------- GERMANY -- (0.0%) Porsche Automobil Holding SE 2,021 188,714 -------------- UNITED KINGDOM -- (0.0%) * McBride P.L.C. 1,333,332 2,137 * Rolls-Royce Holdings P.L.C. 4,300,172 6,895 -------------- TOTAL UNITED KINGDOM 9,032 -------------- TOTAL PREFERRED STOCKS 197,747 -------------- INTERNATIONAL VECTOR EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ----------- -------------- RIGHTS/WARRANTS -- (0.0%) AUSTRALIA -- (0.0%) * Centrebet International, Ltd. Litigation Rights 6,648 $ -- -------------- AUSTRIA -- (0.0%) * Intercell AG Rights 05/16/13 1,270 -- -------------- FRANCE -- (0.0%) * Groupe Fnac Rights 05/16/15 5 16 -------------- HONG KONG -- (0.0%) * Emperor Capital Group, Ltd. Rights 11/22/13 57 -- * New Hotel Rights 12/31/13 8,613 -- -------------- TOTAL HONG KONG -- -------------- ITALY -- (0.0%) #* Hera SpA Rights 11/19/13 57,946 1,046 -------------- SPAIN -- (0.0%) * Banco Santander SA Rights 10/30/13 288,859 62,360 -------------- TOTAL RIGHTS/WARRANTS 63,422 -------------- SHARES/ FACE AMOUNT (000) VALUE+ ----------- -------------- SECURITIES LENDING COLLATERAL -- (9.9%) (S)@ DFA Short Term Investment Fund 10,285,220 119,000,000 @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $169,878 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $153,624) to be repurchased at $150,613 $ 151 150,612 -------------- TOTAL SECURITIES LENDING COLLATERAL 119,150,612 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $978,641,888) $1,201,054,341 ============== EMERGING MARKETS CORE EQUITY PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 SHARES VALUE++ --------- ----------- COMMON STOCKS -- (88.4%) BRAZIL -- (9.1%) Abril Educacao SA 53,100 $ 758,565 AES Tiete SA 242,170 2,130,767 Aliansce Shopping Centers SA 540,240 5,242,648 All America Latina Logistica SA 2,370,493 8,474,776 Anhanguera Educacional Participacoes SA 1,385,040 8,282,431 Arezzo Industria e Comercio SA 175,331 2,607,966 Arteris SA 190,285 1,696,756 Autometal SA 143,078 1,086,531 * B2W Cia Global Do Varejo 437,740 3,277,772 Banco Bradesco SA 2,129,629 34,299,515 # Banco Bradesco SA ADR 5,097,969 73,512,708 Banco do Brasil SA 2,450,339 32,434,641 Banco Santander Brasil SA 115,800 787,965 # Banco Santander Brasil SA ADR 3,110,818 21,557,969 Bematech SA 172,400 596,112 * BHG SA--Brazil Hospitality Group 88,300 645,260 BM&FBovespa SA 7,415,089 41,792,285 BR Malls Participacoes SA 1,680,217 16,230,793 Brasil Brokers Participacoes SA 859,422 2,233,005 Brasil Insurance Participacoes e Administracao SA 284,330 2,577,852 * BrasilAgro--Co. Brasileira de Propriedades Agricolas 4,700 21,239 #* Braskem SA Sponsored ADR 305,129 5,379,424 * Brazil Pharma SA 493,826 1,832,311 BRF SA 438,206 10,280,732 # BRF SA ADR 1,233,685 28,905,239 * Brookfield Incorporacoes SA 2,099,133 1,310,881 CCR SA 1,662,608 13,704,540 * CCX Carvao da Colombia SA 65,219 34,640 Centrais Eletricas Brasileiras SA 796,000 2,522,810 # Centrais Eletricas Brasileiras SA ADR 130,848 693,494 # Centrais Eletricas Brasileiras SA Sponsored ADR 322,427 1,018,869 CETIP SA--Mercados Organizados 729,765 8,064,872 # Cia Brasileira de Distribuicao Grupo Pao de Acucar ADR 196,188 9,891,799 Cia de Bebidas das Americas ADR 698,422 25,981,298 Cia de Locacao das Americas 39,900 150,955 Cia de Saneamento Basico do Estado de Sao Paulo 120,800 1,280,174 # Cia de Saneamento Basico do Estado de Sao Paulo ADR 841,986 8,933,471 Cia de Saneamento de Minas Gerais-COPASA 295,281 4,790,755 Cia Energetica de Minas Gerais 207,213 1,834,226 # Cia Energetica de Minas Gerais Sponsored ADR 816,623 7,325,108 Cia Hering 556,452 8,060,133 Cia Paranaense de Energia 47,400 479,977 # Cia Paranaense de Energia Sponsored ADR 230,970 3,205,864 Cia Providencia Industria e Comercio SA 47,500 179,593 Cia Siderurgica Nacional SA 542,600 2,937,503 # Cia Siderurgica Nacional SA Sponsored ADR 3,131,023 17,345,867 Cielo SA 597,313 18,114,447 * Contax Participacoes SA 124,850 1,027,691 Cosan SA Industria e Comercio 597,306 11,945,322 CPFL Energia SA 248,100 2,117,994 CPFL Energia SA ADR 224,362 3,787,231 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- BRAZIL -- (Continued) * CR2 Empreendimentos Imobiliarios SA 27,200 $ 50,258 Cremer SA 81,500 568,902 CSU Cardsystem SA 23,550 31,439 Cyrela Brazil Realty SA Empreendimentos e Participacoes 1,490,516 11,080,924 Cyrela Commercial Properties SA Empreendimentos e Participacoes 15,734 141,552 Diagnosticos da America SA 1,448,903 7,437,454 Dimed SA Distribuidora da Medicamentos 400 39,027 Direcional Engenharia SA 625,246 3,620,698 Duratex SA 1,382,029 8,585,480 EcoRodovias Infraestrutura e Logistica SA 686,028 4,648,867 EDP--Energias do Brasil SA 1,386,720 7,911,228 Embraer SA 233,006 1,692,749 Embraer SA ADR 690,486 20,293,384 * Eneva SA 290,434 582,124 Equatorial Energia SA 874,343 9,069,257 Estacio Participacoes SA 1,051,200 8,116,992 Eternit SA 423,510 1,789,264 Even Construtora e Incorporadora SA 1,448,077 5,376,315 Ez Tec Empreendimentos e Participacoes SA 251,780 3,691,165 * Fertilizantes Heringer SA 146,708 561,830 * Fibria Celulose SA 443,342 5,765,181 #* Fibria Celulose SA Sponsored ADR 1,146,541 14,962,360 Fleury SA 331,093 2,573,792 Forjas Taurus SA 51,317 63,898 * Gafisa SA 662,200 891,429 #* Gafisa SA ADR 1,410,877 3,795,259 * General Shopping Brasil SA 180,100 771,903 Gerdau SA 576,082 3,827,954 Gerdau SA Sponsored ADR 3,674,735 29,140,649 #* Gol Linhas Aereas Inteligentes SA ADR 132,200 683,474 Grendene SA 434,838 3,920,350 Guararapes Confeccoes SA 26,332 1,175,752 Helbor Empreendimentos SA 750,219 2,983,809 Hypermarcas SA 1,777,866 15,504,024 * IdeiasNet SA 110,343 82,381 Iguatemi Empresa de Shopping Centers SA 439,944 5,058,093 * Industrias Romi SA 65,008 181,502 * International Meal Co. Holdings SA 333,476 3,284,807 Iochpe-Maxion SA 430,969 5,245,679 Itau Unibanco Holding SA 631,814 9,167,977 # Itau Unibanco Holding SA ADR 5,554,966 85,602,024 JBS SA 3,757,861 13,416,131 JHSF Participacoes SA 530,529 1,319,238 Joao Fortes Engenharia SA 20,369 59,068 JSL SA 323,118 2,207,741 Kepler Weber SA 74,894 930,734 Kroton Educacional SA 706,136 10,433,489 Light SA 415,496 3,637,752 * LLX Logistica SA 433,350 227,608 Localiza Rent a Car SA 388,560 6,333,743 * Log-in Logistica Intermodal SA 193,279 812,715 Lojas Americanas SA 368,510 2,304,884 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- BRAZIL -- (Continued) Lojas Renner SA 343,532 $10,360,526 LPS Brasil Consultoria de Imoveis SA 322,780 2,255,588 M Dias Branco SA 94,985 4,456,044 Magnesita Refratarios SA 531,561 1,473,020 Mahle-Metal Leve SA Industria e Comercio 247,100 3,091,941 Marcopolo SA 19,600 48,945 * Marfrig Alimentos SA 1,368,179 2,766,327 Marisa Lojas SA 162,556 1,352,479 * Metalfrio Solutions SA 35,421 55,323 Mills Estruturas e Servicos de Engenharia SA 387,390 5,351,544 * Minerva SA 657,685 2,783,872 * MMX Mineracao e Metalicos SA 1,742,196 641,907 MRV Engenharia e Participacoes SA 2,209,329 9,498,825 Multiplan Empreendimentos Imobiliarios SA 317,160 7,439,165 Multiplus SA 154,604 1,904,526 Natura Cosmeticos SA 320,900 6,404,258 Odontoprev SA 1,056,396 4,362,278 Oi SA 433,158 772,161 Oi SA ADR(670851104) 136,542 237,583 # Oi SA ADR(670851203) 2,015,083 3,486,094 * Paranapanema SA 1,399,631 2,975,066 * PDG Realty SA Empreendimentos e Participacoes 9,451,801 8,490,183 Petroleo Brasileiro SA 1,057,601 9,218,200 Petroleo Brasileiro SA ADR 3,861,209 67,300,873 # Petroleo Brasileiro SA Sponsored ADR 5,128,535 93,134,196 * Plascar Participacoes Industriais SA 42,800 9,888 Porto Seguro SA 557,552 6,999,104 Portobello SA 63,500 140,544 Positivo Informatica SA 180,100 303,009 Profarma Distribuidora de Produtos Farmaceuticos SA 78,600 621,739 QGEP Participacoes SA 504,900 2,439,718 Raia Drogasil SA 796,089 5,811,014 Redentor Energia SA 100 225 * Refinaria de Petroleos de Manguinhos SA 834,174 112,435 Restoque Comercio e Confeccoes de Roupas SA 374,523 1,108,764 Rodobens Negocios Imobiliarios SA 113,621 689,688 * Rossi Residencial SA 2,481,715 3,044,574 Santos Brasil Participacoes SA 239,622 2,311,686 Sao Carlos Empreendimentos e Participacoes SA 8,800 154,102 Sao Martinho SA 291,587 4,106,779 SLC Agricola SA 242,224 2,247,462 Sonae Sierra Brasil SA 159,418 1,598,773 Souza Cruz SA 713,500 7,718,056 * Springs Global Participacoes SA 238,680 198,172 Sul America SA 1,243,910 9,086,542 * T4F Entretenimento SA 88,800 214,338 Technos SA 101,016 783,367 * Tecnisa SA 808,495 3,350,424 Tegma Gestao Logistica 85,000 844,502 Telefonica Brasil SA 50,485 995,737 # Telefonica Brasil SA ADR 401,855 8,913,143 Tempo Participacoes SA 243,497 304,065 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ----------- -------------- BRAZIL -- (Continued) Tereos Internacional SA 106,388 $ 140,329 Tim Participacoes SA 680,744 3,446,976 Tim Participacoes SA ADR 276,754 7,035,087 Totvs SA 438,949 7,414,062 TPI--Triunfo Participacoes e Investimentos SA 92,827 426,365 Tractebel Energia SA 468,939 7,984,905 Transmissora Alianca de Energia Eletrica SA 1,010,213 9,737,729 Trisul SA 51,685 102,188 Ultrapar Participacoes SA 531,868 14,139,268 Ultrapar Participacoes SA Sponsored ADR 70,925 1,888,733 UNICASA Industria de Moveis SA 12,300 35,512 * Usinas Siderurgicas de Minas Gerais SA 258,044 1,308,296 Vale SA 419,200 6,635,638 # Vale SA Sponsored ADR(91912E105) 3,426,868 54,864,157 Vale SA Sponsored ADR(91912E204) 4,029,593 58,993,242 Valid Solucoes e Servicos de Seguranca em Meios de Pagamento e Identificacao S.A 240,729 3,701,440 * Vanguarda Agro SA 1,029,454 1,723,417 * Viver Incorporadora e Construtora SA 651,825 87,781 WEG SA 559,832 7,291,628 -------------- TOTAL BRAZIL 1,295,964,612 -------------- CHILE -- (1.4%) AES Gener SA 7,212,190 4,322,525 Aguas Andinas SA Class A 9,425,824 6,381,818 * AquaChile SA 259,582 129,105 Banco de Chile 7,048,405 1,075,794 # Banco de Chile ADR 39,814 3,656,104 Banco de Credito e Inversiones 110,588 6,454,608 Banco Santander Chile 988,793 61,121 # Banco Santander Chile ADR 329,312 8,087,902 Banmedica SA 452,688 830,232 Besalco SA 1,273,659 1,791,012 CAP SA 275,812 5,725,701 Cementos BIO BIO SA 180,149 198,389 Cencosud SA 3,431,199 13,992,387 Cencosud SA ADR 3,035 38,211 CFR Pharmaceuticals SA 5,308,867 1,346,133 Cia Cervecerias Unidas SA 63,102 843,242 Cia Cervecerias Unidas SA ADR 102,585 2,737,994 Cia General de Electricidad SA 287,202 1,630,983 * Cia Pesquera Camanchaca SA 220,903 8,447 * Cia Sud Americana de Vapores SA 13,854,501 640,430 Cintac SA 161,631 44,185 Clinica LAS Condes SA 309 22,910 Colbun SA 19,687,435 4,871,535 Corpbanca SA 643,442,314 7,202,200 # Corpbanca SA ADR 41,706 717,343 Cristalerias de Chile SA 59,157 503,878 Cruz Blanca Salud SA 767,256 523,345 E.CL SA 1,868,044 2,915,890 Embotelladora Andina SA Class A ADR 2,422 62,730 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ------------ CHILE -- (Continued) # Embotelladora Andina SA Class B ADR 22,399 $ 766,046 Empresa Electrica Pilmaiquen 30,933 146,945 Empresa Nacional de Electricidad SA 1,776,691 2,707,874 # Empresa Nacional de Electricidad SA Sponsored ADR 158,828 7,163,143 Empresas CMPC SA 3,581,508 10,648,603 Empresas COPEC SA 1,299,333 18,945,321 Empresas Hites SA 1,019,129 831,523 Empresas Iansa SA 14,978,288 633,483 * Empresas La Polar SA 1,208,638 245,033 Enersis SA 6,542,197 2,193,393 Enersis SA Sponsored ADR 1,055,331 17,412,961 Enjoy SA 407,211 66,673 ENTEL Chile SA 475,550 7,330,044 Forus SA 297,779 1,632,045 Gasco SA 28,798 306,663 Grupo Security SA 408,178 141,679 Inversiones Aguas Metropolitanas SA 1,765,066 3,281,266 Invexans SA 20,105,398 441,972 Latam Airlines Group SA(2518932) 107,647 1,774,989 Latam Airlines Group SA(B8L1G76) 93,690 1,516,086 # Latam Airlines Group SA Sponsored ADR 542,425 8,977,134 * Madeco SA 20,105,398 153,072 Masisa SA 10,734,862 791,695 Molibdenos y Metales SA 84,984 1,365,109 * Multiexport Foods SA 2,734,356 539,850 Parque Arauco SA 2,441,528 4,705,524 PAZ Corp. SA 1,259,561 715,005 Ripley Corp. SA 3,032,230 2,661,319 SACI Falabella 1,051,205 10,454,334 Salfacorp SA 621,133 706,122 Sigdo Koppers SA 1,689,797 2,820,144 Sociedad Matriz SAAM SA 12,656,121 1,267,128 # Sociedad Quimica y Minera de Chile SA Sponsored ADR 87,991 2,429,432 Socovesa SA 1,364,609 387,203 Sonda SA 1,784,665 4,630,352 Soquimich Comercial SA 134,454 27,484 Vina Concha y Toro SA 1,739,815 3,194,034 # Vina Concha y Toro SA Sponsored ADR 25,644 950,110 Vina San Pedro Tarapaca SA 16,383,152 97,497 ------------ TOTAL CHILE 201,874,444 ------------ CHINA -- (13.7%) # 361 Degrees International, Ltd. 3,700,000 1,059,603 Agile Property Holdings, Ltd. 6,011,525 7,231,547 Agricultural Bank of China, Ltd. Class H 41,678,460 20,084,642 Air China, Ltd. Class H 6,100,000 4,153,128 # Ajisen China Holdings, Ltd. 1,979,000 2,073,988 #* Aluminum Corp. of China, Ltd. ADR 246,740 2,245,334 #* Aluminum Corp. of China, Ltd. Class H 10,142,000 3,750,332 AMVIG Holdings, Ltd. 1,544,000 724,741 #* Angang Steel Co., Ltd. Class H 5,259,160 3,184,149 # Anhui Conch Cement Co., Ltd. Class H 2,995,500 10,472,931 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ----------- ----------- CHINA -- (Continued) Anhui Expressway Co. Class H 2,162,000 $ 1,212,839 Anhui Tianda Oil Pipe Co., Ltd. 589,130 87,382 Anta Sports Products, Ltd. 3,246,000 4,647,683 # Anton Oilfield Services Group 3,504,000 2,220,781 Anxin-China Holdings, Ltd. 9,469,000 3,040,889 Asia Cement China Holdings Corp. 2,485,000 1,359,243 * Asia Energy Logistics Group, Ltd. 17,250,000 186,786 Asian Citrus Holdings, Ltd. 3,647,000 1,380,010 * Ausnutria Dairy Corp., Ltd. 67,000 12,617 * AVIC International Holding HK, Ltd. 5,796,000 220,556 * AVIC International Holdings, Ltd. 518,000 200,945 AviChina Industry & Technology Co., Ltd. Class H 7,505,212 3,562,817 Bank of China, Ltd. Class H 145,776,702 68,633,093 Bank of Communications Co., Ltd. Class H 16,954,618 12,423,335 * Baofeng Modern International Holdings Co., Ltd. 80,000 6,810 Baoye Group Co., Ltd. Class H 1,412,440 1,021,981 * BaWang International Group Holding, Ltd. 4,614,000 276,735 BBMG Corp. Class H 4,608,702 3,294,877 Beijing Capital International Airport Co., Ltd. Class H 9,528,000 6,693,837 # Beijing Capital Land, Ltd. Class H 5,694,000 2,050,540 #* Beijing Development HK, Ltd. 706,000 180,389 Beijing Enterprises Holdings, Ltd. 1,543,528 12,630,519 # Beijing Enterprises Water Group, Ltd. 10,774,469 4,794,059 Beijing Jingkelong Co., Ltd. Class H 803,512 280,003 # Beijing Jingneng Clean Energy Co., Ltd. Class H 1,262,000 524,346 Beijing North Star Co., Ltd. Class H 3,308,000 743,179 * Beijing Properties Holdings, Ltd. 4,784,967 339,274 Belle International Holdings, Ltd. 6,118,114 8,579,365 # Billion Industrial Holdings, Ltd. 296,000 161,149 Biostime International Holdings, Ltd. 359,000 2,756,890 Bloomage Biotechnology Corp., Ltd. 92,500 194,474 Boer Power Holdings, Ltd. 1,024,000 777,433 # Bosideng International Holdings, Ltd. 11,264,157 2,586,103 Brilliance China Automotive Holdings, Ltd. 3,928,000 6,840,386 #* Byd Co., Ltd. Class H 1,329,300 6,598,965 #* BYD Electronic International Co., Ltd. 4,359,222 2,045,958 C C Land Holdings, Ltd. 6,814,354 1,837,054 * Carnival Group International Holdings, Ltd. 356,000 9,636 Carrianna Group Holdings Co., Ltd. 820,877 137,420 Central China Real Estate, Ltd. 2,740,074 895,415 * CGN Mining Co., Ltd. 4,060,000 361,541 Changshouhua Food Co., Ltd. 1,248,000 1,320,000 #* Chaoda Modern Agriculture Holdings, Ltd. 5,616,910 645,945 # Chaowei Power Holdings, Ltd. 2,596,000 1,102,337 * Chigo Holding, Ltd. 15,862,000 355,863 Chiho-Tiande Group, Ltd. 240,000 90,385 China Aerospace International Holdings, Ltd. 10,672,600 1,224,665 China Agri-Industries Holdings, Ltd. 11,372,800 5,311,835 # China All Access Holdings, Ltd. 2,678,000 995,482 China Aoyuan Property Group, Ltd. 6,146,000 1,257,825 China Automation Group, Ltd. 3,425,000 719,912 China BlueChemical, Ltd. 7,943,122 5,095,516 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ----------- ------------ CHINA -- (Continued) * China Chengtong Development Group, Ltd. 2,718,000 $ 101,489 China CITIC Bank Corp., Ltd. Class H 23,858,607 13,413,756 # China Coal Energy Co., Ltd. Class H 15,047,168 9,213,948 China Communications Construction Co., Ltd. Class H 15,615,387 12,725,362 China Communications Services Corp., Ltd. Class H 8,763,327 5,416,479 China Construction Bank Corp. Class H 152,896,302 118,957,385 #* China COSCO Holdings Co., Ltd. Class H 11,544,000 5,495,674 China Datang Corp. Renewable Power Co., Ltd. Class H 8,096,000 1,638,379 # China Dongxiang Group Co. 12,911,888 2,013,990 #* China Eastern Airlines Corp., Ltd. Class H 6,518,000 2,243,667 * China Energine International Holding, Ltd. 6,260,000 508,365 China Everbright International, Ltd. 8,832,000 8,827,364 China Everbright, Ltd. 4,450,896 6,601,452 China Fiber Optic Network System Group, Ltd. 2,154,000 383,151 #* China Foods, Ltd. 4,068,000 1,847,674 China Gas Holdings, Ltd. 5,958,000 6,621,811 * China Glass Holdings, Ltd. 4,404,000 551,227 * China Green Holdings, Ltd. 2,529,000 290,208 * China Haidian Holdings, Ltd. 8,246,000 776,619 China High Precision Automation Group, Ltd. 1,360,000 214,007 #* China High Speed Transmission Equipment Group Co., Ltd. 5,995,007 3,216,455 # China Hongqiao Group, Ltd. 2,679,000 1,688,815 China Household Holdings, Ltd. 10,050,000 1,361,086 * China Huiyuan Juice Group, Ltd. 3,217,000 2,153,361 China International Marine Containers Group Co., Ltd. Class H 195,600 368,335 # China ITS Holdings Co., Ltd. 2,729,000 714,327 China Lesso Group Holdings, Ltd. 3,498,000 2,237,527 # China Life Insurance Co., Ltd. ADR 313,416 12,357,993 China Life Insurance Co., Ltd. Class H 4,667,000 12,319,846 # China Lilang, Ltd. 1,872,000 1,210,140 China Longyuan Power Group Corp. Class H 7,079,000 8,135,412 # China Lumena New Materials Corp. 15,382,000 3,293,565 # China Medical System Holdings, Ltd. 2,644,800 2,381,857 China Mengniu Dairy Co., Ltd. 2,574,000 11,272,996 China Merchants Bank Co., Ltd. Class H 14,193,146 28,221,561 # China Merchants Holdings International Co., Ltd. 3,810,866 13,484,914 #* China Metal Recycling Holdings, Ltd. 1,955,133 1,189,017 #* China Mining Resources Group, Ltd. 14,560,900 179,512 # China Minsheng Banking Corp., Ltd. Class H 13,091,500 15,002,038 China Mobile, Ltd. 415,000 4,312,535 # China Mobile, Ltd. Sponsored ADR 1,489,143 77,465,219 #* China Modern Dairy Holdings, Ltd. 5,582,000 2,599,406 # China Molybdenum Co., Ltd. Class H 4,585,000 1,870,637 # China National Building Material Co., Ltd. Class H 12,186,000 11,898,959 # China National Materials Co., Ltd. 5,688,000 1,239,614 #* China New Town Development Co., Ltd. 5,843,677 542,113 China Nickel Resources Holdings Co., Ltd. 3,830,000 182,620 # China Oil & Gas Group, Ltd. 17,760,000 2,863,435 China Oilfield Services, Ltd. Class H 2,928,000 8,182,836 # China Overseas Grand Oceans Group, Ltd. 1,918,000 2,280,708 China Overseas Land & Investment, Ltd. 7,618,033 23,559,262 China Pacific Insurance Group Co., Ltd. Class H 4,533,265 16,352,267 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- CHINA -- (Continued) China Petroleum & Chemical Corp. ADR 246,852 $19,839,479 China Petroleum & Chemical Corp. Class H 26,430,400 21,395,608 # China Power International Development, Ltd. 9,749,200 3,821,014 #* China Power New Energy Development Co., Ltd. 20,160,000 1,027,193 #* China Precious Metal Resources Holdings Co., Ltd. 11,803,682 1,903,677 * China Properties Group, Ltd. 2,449,000 630,780 China Qinfa Group, Ltd. 2,670,000 210,086 # China Railway Construction Corp., Ltd. Class H 6,846,687 7,491,892 China Railway Group, Ltd. Class H 9,348,000 5,290,822 #* China Rare Earth Holdings, Ltd. 7,016,000 1,076,748 China Resources Cement Holdings, Ltd. 7,800,946 5,209,761 China Resources Enterprise, Ltd. 4,234,000 14,967,756 China Resources Gas Group, Ltd. 1,614,000 4,176,275 China Resources Land, Ltd. 4,814,681 13,947,655 China Resources Power Holdings Co., Ltd. 3,410,000 8,948,235 #* China Rongsheng Heavy Industries Group Holdings, Ltd. 16,935,500 2,008,308 * China Ruifeng Renewable Energy Holdings, Ltd. 672,000 186,386 * China Sandi Holdings, Ltd. 39,300 3,143 China Sanjiang Fine Chemicals Co., Ltd. 3,282,000 1,451,407 # China SCE Property Holdings, Ltd. 1,725,400 399,098 # China Shanshui Cement Group, Ltd. 9,594,645 3,405,078 China Shenhua Energy Co., Ltd. Class H 6,900,500 20,945,976 China Shineway Pharmaceutical Group, Ltd. 1,338,000 2,075,937 #* China Shipping Container Lines Co., Ltd. Class H 17,658,300 4,371,218 #* China Shipping Development Co., Ltd. Class H 6,872,000 3,879,071 # China Singyes Solar Technologies Holdings, Ltd. 1,689,800 1,831,207 China South City Holdings, Ltd. 9,934,711 3,104,162 # China Southern Airlines Co., Ltd. Class H 5,768,000 2,110,599 China Southern Airlines Co., Ltd. Sponsored ADR 39,844 737,114 China Starch Holdings, Ltd. 8,270,000 237,800 China State Construction International Holdings, Ltd. 3,105,520 5,224,509 * China Sunshine Paper Holdings Co., Ltd. 229,500 22,143 China Suntien Green Energy Corp., Ltd. Class H 5,369,000 1,877,061 China Taifeng Beddings Holdings, Ltd. 1,662,000 366,244 * China Taiping Insurance Holdings Co., Ltd. 3,698,400 5,769,162 # China Telecom Corp., Ltd. ADR 137,239 7,092,512 China Telecom Corp., Ltd. Class H 8,024,000 4,191,375 #* China Tian Lun Gas Holdings, Ltd. 403,500 364,249 China Tianyi Holdings, Ltd. 1,996,000 316,155 * China Tontine Wines Group, Ltd. 3,962,000 194,320 # China Travel International Inv HK 13,193,892 2,552,823 China Unicom Hong Kong, Ltd. 4,324,000 6,753,900 China Unicom Hong Kong, Ltd. ADR 1,065,141 16,616,200 * China Vanadium Titano--Magnetite Mining Co., Ltd. 4,823,000 758,265 # China Water Affairs Group, Ltd. 4,664,000 1,750,178 * China WindPower Group, Ltd. 17,655,909 717,149 China Wireless Technologies, Ltd. 7,196,000 2,690,768 #* China Yurun Food Group, Ltd. 7,544,000 5,006,474 * China ZhengTong Auto Services Holdings, Ltd. 4,158,000 2,906,045 * China Zhongwang Holdings, Ltd. 8,549,579 2,790,484 * Chinasoft International, Ltd. 4,598,000 1,346,369 * ChinaVision Media Group, Ltd. 2,070,000 126,831 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- CHINA -- (Continued) * Chinese People Holdings Co., Ltd. 6,552,000 $ 153,928 * Chongqing Iron & Steel Co., Ltd. Class H 2,590,000 367,710 Chongqing Machinery & Electric Co., Ltd. Class H 5,647,962 699,162 # Chongqing Rural Commercial Bank Class H 10,073,000 5,088,772 Chu Kong Petroleum & Natural Gas Steel Pipe Holdings, Ltd. 1,716,000 641,620 CIMC Enric Holdings, Ltd. 1,576,000 2,219,343 * Citic 21CN Co., Ltd. 4,732,000 293,363 * CITIC Dameng Holdings, Ltd. 935,000 75,893 # CITIC Pacific, Ltd. 6,388,567 9,061,098 * CITIC Resources Holdings, Ltd. 12,768,000 1,795,606 # CITIC Securities Co., Ltd. Class H 2,742,000 5,742,538 Clear Media, Ltd. 173,000 133,138 * CNNC International, Ltd. 414,898 97,794 CNOOC, Ltd. 15,368,000 31,179,535 CNOOC, Ltd. ADR 175,892 35,584,711 * Coastal Greenland, Ltd. 2,288,000 104,603 #* Comba Telecom Systems Holdings, Ltd. 4,639,573 1,525,439 * Comtec Solar Systems Group, Ltd. 2,340,000 512,457 Cosco International Holdings, Ltd. 1,328,000 573,077 COSCO Pacific, Ltd. 7,378,989 10,710,196 Country Garden Holdings Co., Ltd. 14,674,182 10,100,382 # CP Pokphand Co., Ltd. 10,301,658 917,083 # CPMC Holdings, Ltd. 1,301,000 1,039,780 CSPC Pharmaceutical Group, Ltd. 3,620,000 2,254,359 # CSR Corp., Ltd. 5,535,324 4,584,217 * DaChan Food Asia, Ltd. 1,513,087 189,324 # Dah Chong Hong Holdings, Ltd. 3,721,000 3,177,739 Dalian Port PDA Co., Ltd. Class H 5,594,000 1,298,188 DaMing International Holdings, Ltd. 34,000 6,594 # Daphne International Holdings, Ltd. 4,762,000 2,537,946 # Datang International Power Generation Co., Ltd. Class H 7,458,000 3,415,879 Dawnrays Pharmaceutical Holdings, Ltd. 1,369,491 678,717 #* DBA Telecommunication Asia Holdings, Ltd. 1,020,000 267,071 # Digital China Holdings, Ltd. 3,560,000 4,684,098 Dongfang Electric Corp., Ltd. Class H 1,165,800 1,872,349 Dongfeng Motor Group Co., Ltd. Class H 7,176,000 10,108,546 Dongjiang Environmental Co., Ltd. Class H 136,599 385,734 # Dongyue Group 6,374,000 3,000,478 #* Dynasty Fine Wines Group, Ltd. 1,708,000 317,235 Embry Holdings, Ltd. 509,000 315,303 ENN Energy Holdings, Ltd. 2,010,000 11,852,242 EVA Precision Industrial Holdings, Ltd. 5,516,516 790,013 # Evergrande Real Estate Group, Ltd. 28,147,000 11,911,641 Evergreen International Holdings, Ltd. 1,091,000 214,026 * Extrawell Pharmaceutical Holdings, Ltd. 5,292,079 331,630 Fantasia Holdings Group Co., Ltd. 8,269,019 1,417,255 # First Tractor Co., Ltd. Class H 2,154,000 1,538,560 Fosun International, Ltd. 6,587,285 6,357,137 # Franshion Properties China, Ltd. 15,908,976 5,547,074 Fufeng Group, Ltd. 5,039,800 2,145,900 * GCL-Poly Energy Holdings, Ltd. 33,132,320 10,122,969 # Geely Automobile Holdings, Ltd. 14,670,000 7,413,860 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- CHINA -- (Continued) * Global Bio-Chem Technology Group Co., Ltd. 10,263,600 $ 793,611 #* Global Sweeteners Holdings, Ltd. 1,750,699 119,444 #* Glorious Property Holdings, Ltd. 14,327,712 2,291,547 Goldbond Group Holdings, Ltd. 650,000 26,938 # Golden Eagle Retail Group, Ltd. 1,767,000 2,619,313 Golden Meditech Holdings, Ltd. 4,905,285 588,568 Goldlion Holdings, Ltd. 852,866 417,002 # GOME Electrical Appliances Holding, Ltd. 56,205,660 8,771,034 Good Friend International Holdings, Inc. 487,333 166,240 # Goodbaby International Holdings, Ltd. 1,953,000 967,108 Great Wall Motor Co., Ltd. Class H 1,421,250 8,335,368 * Great Wall Technology Co., Ltd. Class H 1,982,000 572,640 # Greatview Aseptic Packaging Co., Ltd. 989,000 623,256 Greenland Hong Kong Holdings, Ltd. 1,112,275 785,873 # Greentown China Holdings, Ltd. 2,819,000 5,466,333 Guangdong Investment, Ltd. 6,610,000 5,681,646 Guangdong Land Holdings, Ltd. 2,823,361 754,357 Guangshen Railway Co., Ltd. Class H 4,042,000 2,130,137 Guangshen Railway Co., Ltd. Sponsored ADR 69,174 1,819,276 Guangzhou Automobile Group Co., Ltd. Class H 8,373,480 9,927,371 * Guangzhou Pharmaceutical Co., Ltd. Class H 504,000 1,821,139 Guangzhou R&F Properties Co., Ltd. 3,647,932 6,391,293 Guangzhou Shipyard International Co., Ltd. Class H 856,000 1,265,260 Guodian Technology & Environment Group Co., Ltd. Class H 2,305,000 586,148 # Haier Electronics Group Co., Ltd. 1,658,000 3,534,910 Hainan Meilan International Airport Co., Ltd. Class H 596,000 629,444 Haitian International Holdings, Ltd. 1,424,000 3,432,508 #* Hanergy Solar Group, Ltd. 48,496,000 8,253,509 Harbin Electric Co., Ltd. Class H 4,400,587 2,763,270 Henderson Investment, Ltd. 377,000 29,659 * Heng Tai Consumables Group, Ltd. 18,666,383 344,417 Hengan International Group Co., Ltd. 922,622 11,303,036 # Hengdeli Holdings, Ltd. 9,412,800 2,234,143 #* Hi Sun Technology China, Ltd. 4,122,000 1,131,411 #* Hidili Industry International Development, Ltd. 5,587,000 927,779 # Hilong Holding, Ltd. 2,036,000 1,354,227 * Hisense Kelon Electrical Holdings Co., Ltd. Class H 1,186,000 1,114,564 HKC Holdings, Ltd. 18,068,210 629,232 # Honghua Group, Ltd. 5,332,000 1,623,123 Hopefluent Group Holdings, Ltd. 281,973 107,934 # Hopewell Highway Infrastructure, Ltd. 3,740,028 1,842,786 #* Hopson Development Holdings, Ltd. 3,228,000 3,958,748 # Hua Han Bio-Pharmaceutical Holdings, Ltd. 8,502,280 1,967,471 * Hua Lien International Holding Co., Ltd. 558,000 33,352 # Huabao International Holdings, Ltd. 10,107,986 4,435,543 Huadian Power International Co. Class H 3,642,000 1,686,980 Huaneng Power International, Inc. Class H 990,000 1,029,545 # Huaneng Power International, Inc. Sponsored ADR 106,517 4,403,413 Huaneng Renewables Corp., Ltd. Class H 8,702,000 3,365,509 * Huili Resources Group, Ltd. 846,000 200,609 #* Hunan Nonferrous Metal Corp., Ltd. Class H 6,860,000 1,902,246 * Huscoke Resources Holdings, Ltd. 1,967,800 23,574 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ----------- ------------ CHINA -- (Continued) Hutchison Harbour Ring, Ltd. 1,932,000 $ 151,964 Industrial & Commercial Bank of China, Ltd. Class H 143,278,725 100,257,149 Inspur International, Ltd. 10,900,000 449,824 * Interchina Holdings Co. 17,127,500 1,214,731 Intime Retail Group Co., Ltd. 4,194,500 4,965,780 Jiangsu Expressway Co., Ltd. Class H 3,082,000 3,866,950 Jiangxi Copper Co., Ltd. Class H 4,793,000 9,201,461 #* Jinchuan Group International Resources Co., Ltd. 1,394,000 208,355 Jingwei Textile Machinery Class H 1,000,000 660,959 # Ju Teng International Holdings, Ltd. 4,202,090 3,057,003 Jutal Offshore Oil Services, Ltd. 958,000 188,951 * Kai Yuan Holdings, Ltd. 16,790,000 411,761 * Kaisa Group Holdings, Ltd. 9,613,684 2,930,345 * Kasen International Holdings, Ltd. 258,000 47,709 Kingboard Chemical Holdings, Ltd. 3,527,166 9,179,798 Kingboard Laminates Holdings, Ltd. 4,742,984 1,956,378 #* Kingdee International Software Group Co., Ltd. 7,411,600 2,389,194 # Kingsoft Corp., Ltd. 2,757,000 6,840,315 Kunlun Energy Co., Ltd. 5,688,000 9,319,433 KWG Property Holding, Ltd. 6,389,144 4,161,105 # Labixiaoxin Snacks Group, Ltd. 1,041,000 539,428 Lai Fung Holdings, Ltd. 24,807,000 623,291 Le Saunda Holdings, Ltd. 1,134,000 517,687 Lee & Man Chemical Co., Ltd. 821,339 370,549 Lee & Man Paper Manufacturing, Ltd. 7,007,200 5,016,569 # Lenovo Group, Ltd. 7,772,000 8,305,338 * Leoch International Technology, Ltd. 907,000 106,436 #* Li Ning Co., Ltd. 5,147,000 4,686,364 # Lianhua Supermarket Holdings Co., Ltd. Class H 1,999,200 1,282,953 Lijun International Pharmaceutical Holding, Ltd. 7,206,000 1,945,216 Lingbao Gold Co., Ltd. Class H 1,494,000 327,111 * LK Technology Holdings, Ltd. 712,500 140,702 Longfor Properties Co., Ltd. 3,160,500 5,165,167 * Lonking Holdings, Ltd. 11,388,000 2,306,782 * Loudong General Nice Resources China Holdings, Ltd. 5,239,309 344,190 * Luoyang Glass Co., Ltd. Class H 234,000 42,246 #* Maanshan Iron & Steel Class H 9,168,000 2,340,742 * Madex International Holdings, Ltd. 1,260,000 21,294 Magic Holdings International, Ltd. 1,556,000 1,230,336 Maoye International Holdings, Ltd. 6,702,000 1,286,813 #* Metallurgical Corp. of China, Ltd. Class H 11,645,000 2,389,021 # Microport Scientific Corp. 1,233,000 836,652 # MIE Holdings Corp. 4,104,000 879,292 MIN XIN Holdings, Ltd. 596,000 315,359 #* Mingfa Group International Co., Ltd. 4,441,000 1,202,641 * Mingyuan Medicare Development Co., Ltd. 4,480,000 106,976 # Minmetals Land, Ltd. 6,023,644 862,311 Minth Group, Ltd. 2,171,000 4,541,391 #* MMG, Ltd. 8,308,000 1,851,626 * Nan Hai Corp., Ltd. 61,300,000 514,033 Nanjing Panda Electronics Co., Ltd. Class H 814,000 378,796 Nature Flooring Holding Co., Ltd. 654,000 118,977 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- CHINA -- (Continued) # NetDragon Websoft, Inc. 334,456 $ 769,737 #* New China Life Insurance Co., Ltd. Class H 1,287,000 3,628,026 New World China Land, Ltd. 10,141,700 5,581,493 New World Department Store China, Ltd. 2,112,538 1,220,946 # Nine Dragons Paper Holdings, Ltd. 8,532,000 7,028,681 * North Mining Shares Co., Ltd. 10,450,000 465,179 NVC Lighting Holdings, Ltd. 6,878,000 1,676,284 O-Net Communications Group, Ltd. 1,503,000 284,821 Overseas Chinese Town Asia Holdings, Ltd. 357,817 161,533 Pacific Online, Ltd. 748,195 347,627 # Parkson Retail Group, Ltd. 5,783,500 1,977,997 * PAX Global Technology, Ltd. 577,000 244,812 # Peak Sport Products Co., Ltd. 3,192,000 732,834 * PetroAsian Energy Holdings, Ltd. 6,124,000 128,166 # PetroChina Co., Ltd. ADR 229,733 26,021,857 PetroChina Co., Ltd. Class H 17,860,000 20,338,622 Phoenix Satellite Television Holdings, Ltd. 2,500,000 880,457 PICC Property & Casualty Co., Ltd. Class H 5,208,360 7,946,367 # Ping An Insurance Group Co. of China, Ltd. Class H 2,339,000 18,443,608 Poly Property Group Co., Ltd. 10,837,068 6,672,053 Ports Design, Ltd. 1,736,000 1,292,795 * Pou Sheng International Holdings, Ltd. 3,881,609 205,075 Powerlong Real Estate Holdings, Ltd. 5,280,715 1,097,600 # Prince Frog International Holdings, Ltd. 614,000 369,049 #* Prosperity International Holdings HK, Ltd. 4,900,000 186,496 # Qingling Motors Co., Ltd. Class H 1,688,000 518,235 Qunxing Paper Holdings Co., Ltd. 854,211 222,339 * Real Gold Mining, Ltd. 640,000 115,568 # Real Nutriceutical Group, Ltd. 4,279,000 1,109,259 Regent Manner International Holdings, Ltd. 2,926,000 505,474 #* Renhe Commercial Holdings Co., Ltd. 53,235,077 2,995,000 REXLot Holdings, Ltd. 40,047,436 3,513,565 * Richly Field China Development, Ltd. 5,210,000 -- Road King Infrastructure, Ltd. 1,092,000 1,100,379 Royale Furniture Holdings, Ltd. 1,746,750 91,303 Samson Holding, Ltd. 4,087,000 568,758 Sany Heavy Equipment International Holdings Co., Ltd. 4,530,500 1,313,940 Sateri Holdings, Ltd. 23,000 4,458 #* Semiconductor Manufacturing International Corp. 88,127,955 6,519,491 #* Semiconductor Manufacturing International Corp. ADR 162,983 596,518 Shandong Chenming Paper Holdings, Ltd. Class H 1,952,022 798,164 Shandong Molong Petroleum Machinery Co., Ltd. Class H 1,181,728 399,158 Shandong Weigao Group Medical Polymer Co., Ltd. Class H 3,088,000 2,891,662 # Shanghai Electric Group Co., Ltd. Class H 9,474,000 3,335,387 Shanghai Fosun Pharmaceutical Group Co., Ltd. Class H 618,000 1,396,148 Shanghai Industrial Holdings, Ltd. 2,296,000 7,547,527 #* Shanghai Industrial Urban Development Group, Ltd. 7,885,025 1,953,781 Shanghai Jin Jiang International Hotels Group Co., Ltd. Class H 6,756,000 1,630,797 Shanghai Pharmaceuticals Holding Co., Ltd. Class H 1,531,800 3,171,007 Shanghai Prime Machinery Co., Ltd. Class H 1,820,000 213,625 * Shanghai Zendai Property, Ltd. 6,120,000 120,326 Shengli Oil & Gas Pipe Holdings, Ltd. 4,210,500 228,310 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- CHINA -- (Continued) # Shenguan Holdings Group, Ltd. 3,420,000 $ 1,527,469 Shenzhen Expressway Co., Ltd. Class H 3,044,000 1,287,906 Shenzhen International Holdings, Ltd. 44,621,949 5,466,779 # Shenzhen Investment, Ltd. 14,728,455 5,893,548 Shenzhou International Group Holdings, Ltd. 931,000 3,192,053 # Shimao Property Holdings, Ltd. 5,344,683 13,391,281 * Shougang Concord Century Holdings, Ltd. 360,433 14,379 #* Shougang Concord International Enterprises Co., Ltd. 24,674,100 1,224,161 # Shougang Fushan Resources Group, Ltd. 17,696,461 5,936,331 Shui On Land, Ltd. 19,218,276 6,678,027 Sichuan Expressway Co., Ltd. Class H 3,480,000 1,036,961 Sihuan Pharmaceutical Holdings Group, Ltd. 6,967,000 5,191,102 * Sijia Group Co. 893,399 157,869 Silver Grant International 4,466,000 610,283 #* SIM Technology Group, Ltd. 5,367,000 225,073 Sino Biopharmaceutical 7,423,999 5,208,763 * Sino Dragon New Energy Holdings, Ltd. 2,728,000 103,702 #* Sino Oil And Gas Holdings, Ltd. 53,867,234 1,475,224 # Sino-Ocean Land Holdings, Ltd. 15,782,220 10,007,505 Sinofert Holdings, Ltd. 11,546,673 1,874,815 * Sinolink Worldwide Holdings, Ltd. 3,813,492 373,772 SinoMedia Holding, Ltd. 928,258 858,631 # Sinopec Kantons Holdings, Ltd. 3,276,000 2,988,596 Sinopec Shanghai Petrochemical Co., Ltd. Class H 4,443,000 1,173,457 # Sinopec Shanghai Petrochemical Co., Ltd. Sponsored ADR 26,615 1,031,597 #* Sinopec Yizheng Chemical Fibre Co., Ltd. Class H 3,470,000 961,354 Sinopharm Group Co., Ltd. Class H 2,169,600 5,862,614 * Sinopoly Battery, Ltd. 18,880,000 900,948 # Sinotrans Shipping, Ltd. 7,393,500 2,431,610 Sinotrans, Ltd. Class H 7,912,000 1,949,197 Sinotruk Hong Kong, Ltd. 3,586,500 1,878,082 SITC International Holdings Co., Ltd. 1,253,000 531,404 Skyworth Digital Holdings, Ltd. 9,617,839 4,665,680 * SMI Corp., Ltd. 9,644,000 247,886 # SOHO China, Ltd. 8,325,339 7,308,617 * Solargiga Energy Holdings, Ltd. 9,232,000 440,624 Sparkle Roll Group, Ltd. 6,520,000 437,685 Springland International Holdings, Ltd. 954,000 522,001 * SRE Group, Ltd. 14,737,714 531,451 Sun Art Retail Group, Ltd. 2,977,500 4,869,324 # Sunac China Holdings, Ltd. 7,895,000 5,478,745 # Sunny Optical Technology Group Co., Ltd. 1,836,000 1,787,727 * Superb Summit International Group, Ltd. 1,350,000 59,198 TCC International Holdings, Ltd. 5,291,997 1,958,739 * TCL Communication Technology Holdings, Ltd. 2,429,100 2,211,303 TCL Multimedia Technology Holdings, Ltd. 2,687,200 1,106,229 * Tech Pro Technology Development, Ltd. 2,962,000 1,428,598 Tencent Holdings, Ltd. 970,900 52,968,595 # Texhong Textile Group, Ltd. 1,314,000 2,299,160 Tian An China Investment 896,357 739,830 Tian Shan Development Holdings, Ltd. 1,238,000 413,524 # Tiangong International Co., Ltd. 6,214,056 1,594,577 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- CHINA -- (Continued) Tianjin Capital Environmental Protection Group Co., Ltd. Class H 1,310,000 $ 530,602 #* Tianjin Development Hldgs, Ltd. 1,873,800 1,244,605 Tianjin Jinran Public Utilities Co., Ltd. Class H 640,000 169,647 Tianjin Port Development Holdings, Ltd. 9,809,200 1,707,675 # Tianneng Power International, Ltd. 3,437,952 1,298,645 # Tingyi Cayman Islands Holding Corp. 2,444,000 6,904,841 Tomson Group, Ltd. 1,005,277 311,403 # Tong Ren Tang Technologies Co., Ltd. Class H 802,000 2,431,550 * Tonic Industries Holdings, Ltd. 382,000 113,543 * Tonly Electronics Holdings, Ltd. 268,720 158,397 Towngas China Co., Ltd. 3,777,000 3,728,313 TPV Technology, Ltd. 3,716,578 786,411 Travelsky Technology, Ltd. Class H 3,595,938 3,075,605 Trigiant Group, Ltd. 602,000 228,281 * Trony Solar Holdings Co., Ltd. 2,133,000 173,325 # Truly International Holdings 4,789,000 3,056,548 Tsingtao Brewery Co., Ltd. Class H 530,000 4,336,992 # Uni-President China Holdings, Ltd. 2,423,090 2,414,781 #* United Energy Group, Ltd. 8,091,550 1,264,510 # Vinda International Holdings, Ltd. 1,745,000 2,479,819 #* VODone, Ltd. 16,894,600 1,459,785 Want Want China Holdings, Ltd. 7,429,000 11,384,396 Wasion Group Holdings, Ltd. 2,466,000 1,544,955 Weichai Power Co., Ltd. Class H 1,500,280 6,005,042 Weiqiao Textile Co. Class H 2,338,500 1,425,988 Welling Holding, Ltd. 4,766,000 1,001,942 # West China Cement, Ltd. 13,020,000 1,946,996 * Winsway Coking Coal Holdings, Ltd. 7,093,000 539,154 * Winteam Pharmaceutical Group, Ltd. 738,000 332,251 Wumart Stores, Inc. Class H 861,000 1,433,836 Xiamen International Port Co., Ltd. Class H 5,097,338 690,590 Xiangyu Dredging Holdings, Ltd. 1,227,000 313,175 Xingda International Holdings, Ltd. 4,663,000 2,833,535 Xinhua Winshare Publishing and Media Co., Ltd. Class H 786,000 461,600 # Xinjiang Goldwind Science & Technology Co., Ltd. Class H 2,238,200 2,285,067 #* Xinjiang Xinxin Mining Industry Co., Ltd. Class H 3,677,000 577,464 # Xiwang Property Holdings Co., Ltd. 1,750,005 250,323 XTEP International Holdings 3,155,500 1,555,161 #* Yanchang Petroleum International, Ltd. 18,410,000 807,644 Yantai North Andre Juice Co. Class H 134,500 33,549 # Yanzhou Coal Mining Co., Ltd. Class H 5,856,000 6,066,953 # Yanzhou Coal Mining Co., Ltd. Sponsored ADR 210,602 2,158,671 Yingde Gases Group Co., Ltd. 2,726,500 2,791,980 Yip's Chemical Holdings, Ltd. 1,266,000 1,063,867 Youyuan International Holdings, Ltd. 941,600 273,857 Yuanda China Holdings, Ltd. 2,714,000 230,790 Yuexiu Property Co., Ltd. 27,238,800 7,592,883 Yuexiu Transport Infrastructure, Ltd. 2,753,415 1,444,946 Yuzhou Properties Co. 4,513,800 1,106,484 Zall Development Group, Ltd. 1,213,000 492,862 # Zhaojin Mining Industry Co., Ltd. 2,924,666 2,350,792 Zhejiang Expressway Co., Ltd. Class H 4,358,000 3,978,700 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- -------------- CHINA -- (Continued) Zhengzhou Coal Mining Machinery Group Co., Ltd. Class H 512,400 $ 309,224 * Zhong An Real Estate, Ltd. 1,959,444 388,811 # Zhongsheng Group Holdings, Ltd. 1,896,000 3,020,280 * Zhuguang Holdings Group Co., Ltd. 757,242 225,462 Zhuzhou CSR Times Electric Co., Ltd. Class H 1,175,250 4,172,955 # Zijin Mining Group Co., Ltd. Class H 16,988,000 3,956,521 # Zoomlion Heavy Industry Science and Technology Co., Ltd. 5,703,800 5,276,253 #* ZTE Corp. Class H 1,801,460 3,925,981 -------------- TOTAL CHINA 1,950,799,658 -------------- COLOMBIA -- (0.5%) Almacenes Exito SA 667,286 11,178,147 Banco de Bogota SA 32,536 1,152,304 Bancolombia SA 365,871 5,046,230 # Bancolombia SA Sponsored ADR 258,091 14,486,648 Cementos Argos SA 874,539 4,616,823 Constructora Conconcreto SA 19,345 14,312 Ecopetrol SA 770,650 1,832,602 # Ecopetrol SA Sponsored ADR 410,257 19,429,772 Empresa de Energia de Bogota SA 2,552,194 2,144,418 Empresa de Telecomunicaciones de Bogota 290,173 59,496 * Fabricato SA 9,525,507 72,233 Grupo Aval Acciones y Valores 654,024 459,668 Grupo de Inversiones Suramericana SA 10,000 198,166 Grupo Nutresa SA 63,695 908,799 Grupo Odinsa SA 10,339 47,205 Interconexion Electrica SA ESP 1,167,081 5,772,652 Isagen SA ESP 3,190,278 5,091,362 Mineros SA 17,511 31,508 -------------- TOTAL COLOMBIA 72,542,345 -------------- CZECH REPUBLIC -- (0.3%) CEZ A.S. 447,704 12,883,438 Fortuna Entertainment Group NV 27,292 160,580 Komercni Banka A.S. 68,764 17,033,391 Pegas Nonwovens SA 50,256 1,559,746 Philip Morris CR A.S. 1,526 867,952 Telefonica Czech Republic A.S. 369,112 6,018,529 * Unipetrol A.S. 199,690 1,789,610 -------------- TOTAL CZECH REPUBLIC 40,313,246 -------------- EGYPT -- (0.0%) # Commercial International Bank Egypt S.A.E. GDR 572,386 3,310,449 * Egyptian Financial Group-Hermes Holding GDR 13,261 25,765 * GLOBAL TELECOM HOLDING GDR GDR 1,049,224 3,550,760 -------------- TOTAL EGYPT 6,886,974 -------------- HONG KONG -- (0.0%) * China Water Industry Group, Ltd. 1,000,000 186,927 * Coslight Technology International Group, Ltd. 436,000 251,465 * FU JI Food and Catering Services Holdings, Ltd. 19,500 4,077 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- HONG KONG -- (Continued) * Newton Resources, Ltd. 494,000 $ 36,324 World Wide Touch Technology Holdings, Ltd. 4,080,000 294,899 ----------- TOTAL HONG KONG 773,692 ----------- HUNGARY -- (0.3%) * CIG Pannonia Life Insurance P.L.C. Class A 5,747 5,798 * Danubius Hotel and SpA P.L.C. 6,208 135,623 #* FHB Mortgage Bank P.L.C. 72,566 118,398 Magyar Telekom Telecommunications P.L.C. 1,803,814 2,473,340 # Magyar Telekom Telecommunications P.L.C. Sponsored ADR 36,206 248,373 MOL Hungarian Oil and Gas P.L.C. 102,103 6,981,172 OTP Bank P.L.C. 1,067,617 22,147,905 * PannErgy 73,661 100,078 Richter Gedeon Nyrt 393,615 7,484,722 ----------- TOTAL HUNGARY 39,695,409 ----------- INDIA -- (6.1%) * 3M India, Ltd. 3,252 174,962 Aban Offshore, Ltd. 119,942 496,835 ABB, Ltd. 139,711 1,420,441 * ABG Shipyard, Ltd. 91,062 432,391 ACC, Ltd. 237,681 4,387,136 Adani Enterprises, Ltd. 848,716 2,863,585 Adani Ports and Special Economic Zone 1,240,876 2,931,519 * Adani Power, Ltd. 3,327,730 1,758,232 Aditya Birla Nuvo, Ltd. 187,345 3,726,116 * Advanta Ltd. 60,475 111,808 Agro Tech Foods, Ltd. 29,766 251,348 AIA Engineering, Ltd. 42,137 266,382 Ajanta Pharma, Ltd. 50,781 731,214 Ajmera Realty & Infra India, Ltd. 8,654 7,888 Akzo Nobel India, Ltd. 32,864 445,655 Alembic Pharmaceuticals, Ltd. 336,138 1,085,623 Allahabad Bank 638,448 951,448 Allcargo Logistics, Ltd. 4,494 6,738 * Alok Industries, Ltd. 5,583,532 721,992 Alstom India, Ltd. 86,696 491,489 Amara Raja Batteries, Ltd. 228,595 1,166,581 Ambuja Cements, Ltd. 2,851,193 8,682,733 Amtek Auto, Ltd. 402,375 424,169 Amtek India, Ltd. 45,529 47,838 Anant Raj, Ltd. 942,384 848,683 Andhra Bank 800,327 763,682 * Andhra Pradesh Paper Mills 13,196 60,409 Apollo Hospitals Enterprise, Ltd. 277,636 4,083,210 Apollo Tyres, Ltd. 721,370 800,903 Arvind, Ltd. 1,323,955 2,290,708 * Asahi India Glass, Ltd. 99,585 70,543 Ashok Leyland, Ltd. 7,079,949 1,990,702 Asian Hotels East, Ltd. 2,605 5,798 Asian Paints, Ltd. 560,209 4,904,740 Atul, Ltd. 2,501 15,360 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- INDIA -- (Continued) Aurobindo Pharma, Ltd. 686,000 $ 2,416,927 Automotive Axles, Ltd. 5,791 24,839 Axis Bank, Ltd. 897,752 17,875,322 Bajaj Auto, Ltd. 179,797 6,228,553 Bajaj Corp., Ltd. 52,509 209,219 Bajaj Electricals, Ltd. 177,191 476,198 Bajaj Finance, Ltd. 28,762 637,813 Bajaj Finserv, Ltd. 199,581 2,080,872 Bajaj Hindusthan, Ltd. 1,058,501 233,684 Bajaj Holdings and Investment, Ltd. 119,916 1,612,834 Balkrishna Industries, Ltd. 25,755 115,422 Ballarpur Industries, Ltd. 987,559 206,166 Balmer Lawrie & Co., Ltd. 34,281 172,551 Balrampur Chini Mills, Ltd. 806,959 538,346 Bank of Baroda 410,912 4,310,935 Bank of India 634,701 2,186,411 Bank Of Maharashtra 479,162 306,959 Bannari Amman Sugars, Ltd. 3,050 37,270 BASF India, Ltd. 32,250 313,773 Bata India, Ltd. 51,094 758,831 BEML, Ltd. 51,423 157,287 Berger Paints India, Ltd. 450,282 1,679,733 BGR Energy Systems, Ltd. 98,529 185,266 Bharat Electronics, Ltd. 57,139 979,294 Bharat Forge, Ltd. 428,158 2,076,566 Bharat Heavy Electricals, Ltd. 2,219,059 5,092,145 Bharat Petroleum Corp., Ltd. 617,092 3,603,354 Bharti Airtel, Ltd. 1,792,152 10,679,416 Bhushan Steel, Ltd. 323,573 2,529,150 Biocon, Ltd. 319,556 1,795,988 Birla Corp., Ltd. 48,901 171,018 Blue Dart Express, Ltd. 10,046 459,961 Blue Star, Ltd. 97,482 239,970 Bombay Dyeing & Manufacturing Co., Ltd. 571,198 635,082 * Bombay Rayon Fashions, Ltd. 14,294 44,417 Bosch, Ltd. 17,210 2,459,498 Brigade Enterprises, Ltd. 20,588 18,696 Britannia Industries, Ltd. 149,197 2,276,617 Cadila Healthcare, Ltd. 147,940 1,588,612 Cairn India, Ltd. 1,205,004 6,257,575 Canara Bank 487,383 2,053,401 Capital First, Ltd. 73,894 184,318 Carborundum Universal, Ltd. 136,424 251,542 Central Bank Of India 1,200,049 1,063,030 Century Plyboards India, Ltd. 85,287 38,631 Century Textiles & Industries, Ltd. 237,254 1,054,898 CESC, Ltd. 403,869 2,449,562 Chambal Fertilizers & Chemicals, Ltd. 701,330 396,603 * Chennai Petroleum Corp., Ltd. 129,610 110,932 Cholamandalam Investment and Finance Co., Ltd. 56,126 208,641 Cipla, Ltd. 1,275,455 8,582,842 City Union Bank, Ltd. 1,034,709 810,473 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- INDIA -- (Continued) Clariant Chemicals India, Ltd. 32,424 $ 310,102 Claris Lifesciences, Ltd. 2,650 7,618 CMC, Ltd. 28,513 625,904 Colgate-Palmolive India, Ltd. 88,176 1,776,927 Container Corp. Of India 200,268 2,473,263 * Core Education & Technologies, Ltd. 103,520 31,973 Coromandel International, Ltd. 276,372 996,933 Corp. Bank 181,716 846,429 Cox & Kings, Ltd. 10,358 15,470 Crompton Greaves, Ltd. 1,766,235 3,033,689 Cummins India, Ltd. 224,115 1,441,777 Dabur India, Ltd. 799,230 2,310,349 Dalmia Bharat, Ltd. 31,411 61,442 DB Corp., Ltd. 44,890 193,235 * DB Realty, Ltd. 468,282 465,049 DCM Shriram Consolidated 112,921 101,710 Deepak Fertilisers & Petrochemicals Corp., Ltd. 115,148 196,471 Delta Corp., Ltd. 741,177 1,056,513 * DEN Networks, Ltd. 234,386 564,220 Dena Bank 234,217 204,398 * Development Credit Bank, Ltd. 1,228,069 1,023,554 Dewan Housing Finance Corp., Ltd. 108,094 269,335 * Dish TV India, Ltd. 1,829,109 1,596,328 Divi's Laboratories, Ltd. 158,842 2,511,263 DLF, Ltd. 1,911,945 4,711,814 Dr Reddy's Laboratories, Ltd. 127,542 5,039,745 # Dr Reddy's Laboratories, Ltd. ADR 175,242 6,948,345 Dredging Corp. Of India, Ltd. 24,595 101,332 eClerx Services, Ltd. 15,997 258,593 Edelweiss Financial Services, Ltd. 357,029 176,988 * Educomp Solutions, Ltd. 248,783 96,539 Eicher Motors, Ltd. 29,506 1,899,881 EID Parry India, Ltd. 205,741 478,573 EIH, Ltd. 412,222 368,634 Elder Pharmaceuticals, Ltd. 35,847 184,032 Electrosteel Castings, Ltd. 264,725 58,495 * Electrosteel Steels, Ltd. 48,436 2,958 Elgi Equipments, Ltd. 52,370 68,398 Emami, Ltd. 136,814 1,104,116 Engineers India, Ltd. 259,695 747,413 Entertainment Network India, Ltd. 42,882 223,506 * Era Infra Engineering, Ltd. 368,450 227,263 Eros International Media, Ltd. 154,905 397,545 Escorts, Ltd. 393,253 618,774 Ess Dee Aluminium, Ltd. 101,767 840,596 * Essar Oil, Ltd. 1,611,283 1,365,445 Essar Ports, Ltd. 201,111 199,659 * Essar Shipping, Ltd. 67,656 19,612 Essel Propack, Ltd. 79,134 55,221 Exide Industries, Ltd. 1,017,404 2,062,397 FAG Bearings India, Ltd. 15,456 338,532 FDC, Ltd. 248,629 357,995 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- INDIA -- (Continued) Federal Bank, Ltd. 3,547,580 $ 4,758,724 * Federal-Mogul Goetze India, Ltd. 18,608 59,590 Financial Technologies India, Ltd. 153,462 433,167 Finolex Cables, Ltd. 94,015 92,552 Finolex Industries, Ltd. 210,554 441,248 * Firstsource Solutions, Ltd. 34,033 11,468 * Fortis Healthcare, Ltd. 546,923 872,650 * Fresenius Kabi Oncology, Ltd. 76,306 160,711 * Future Lifestyle Fashions, Ltd. 6,032 6,969 Future Retail, Ltd. 8,100 10,015 * Future Ventures India, Ltd. 103,296 9,862 GAIL India, Ltd. 1,288,652 7,383,642 Gammon India, Ltd. 141,648 30,589 * Gammon Infrastructure Projects, Ltd. 231,293 28,679 Gateway Distriparks, Ltd. 220,259 407,800 Gillette India, Ltd. 10,795 366,433 * Gitanjali Gems, Ltd. 286,011 303,100 GlaxoSmithKline Consumer Healthcare, Ltd. 7,626 571,263 GlaxoSmithKline Pharmaceuticals, Ltd. 48,197 1,904,813 Glenmark Pharmaceuticals, Ltd. 216,712 1,978,576 GMR Infrastructure, Ltd. 5,599,096 1,974,322 Godfrey Phillips India, Ltd. 5,046 215,175 Godrej Consumer Products, Ltd. 207,232 2,918,714 Godrej Industries, Ltd. 355,326 1,701,466 Godrej Properties, Ltd. 57,333 341,190 * Gokul Refoils & Solvent, Ltd. 47,003 13,738 Graphite India, Ltd. 130,506 160,302 Grasim Industries, Ltd. 28,007 1,281,918 Gravita India, Ltd. 24,534 10,430 Great Eastern Shipping Co., Ltd. (The) 259,490 1,175,287 Greaves Cotton, Ltd. 286,743 279,664 Grindwell Norton, Ltd. 11,963 49,123 Gruh Finance, Ltd. 62,690 236,091 * GTL Infrastructure, Ltd. 1,083,313 28,222 Gujarat Alkalies & Chemicals, Ltd. 142,039 372,144 Gujarat Fluorochemicals, Ltd. 76,058 307,482 Gujarat Gas Co., Ltd. 28,606 134,441 Gujarat Industries Power Co., Ltd. 54,408 53,827 Gujarat Mineral Development Corp., Ltd. 312,971 523,649 Gujarat Narmada Valley Fertilizers & Chemicals, Ltd. 222,750 223,188 * Gujarat NRE Coke, Ltd. 1,308,535 277,083 * Gujarat Pipavav Port, Ltd. 39,527 32,117 Gujarat State Fertilisers & Chemicals, Ltd. 513,825 499,083 Gujarat State Petronet, Ltd. 694,541 632,315 Gulf Oil Corp., Ltd. 55,926 71,918 * GVK Power & Infrastructure, Ltd. 6,054,079 713,908 * Hathway Cable & Datacom, Ltd. 224,118 1,037,781 Havells India, Ltd. 203,643 2,454,694 HBL Power Systems, Ltd. 125,202 19,163 * HCL Infosystems, Ltd. 487,859 186,501 HCL Technologies, Ltd. 621,706 11,060,025 HDFC Bank, Ltd. 2,994,559 33,307,680 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- INDIA -- (Continued) HEG, Ltd. 32,827 $ 91,918 * HeidelbergCement India, Ltd. 161,619 98,560 Hero Motocorp, Ltd. 99,796 3,363,612 * Hexa Tradex, Ltd. 69,387 15,825 Hexaware Technologies, Ltd. 1,419,762 3,058,842 * Himachal Futuristic Communications, Ltd. 1,610,084 223,840 Himadri Chemicals & Industries, Ltd. 17,764 4,434 Hindalco Industries, Ltd. 6,024,915 11,298,915 Hinduja Global Solutions, Ltd. 10,967 66,425 Hinduja Ventures, Ltd. 10,967 47,536 * Hindustan Construction Co., Ltd. 2,613,935 602,351 * Hindustan Oil Exploration Co., Ltd. 131,920 77,220 Hindustan Petroleum Corp., Ltd. 304,799 997,716 Honeywell Automation India, Ltd. 7,379 297,025 * Hotel Leela Venture, Ltd. 365,088 93,022 * Housing Development & Infrastructure, Ltd. 2,048,621 1,424,849 HSIL, Ltd. 81,520 108,100 HT Media, Ltd. 103,911 139,801 ICICI Bank, Ltd. 30,273 549,636 ICICI Bank, Ltd. Sponsored ADR 621,150 23,181,318 ICRA, Ltd. 4,961 105,562 IDBI Bank, Ltd. 1,045,740 1,150,331 Idea Cellular, Ltd. 2,571,943 7,202,058 IDFC, Ltd. 1,943,833 3,359,314 IFCI, Ltd. 1,168,454 463,241 IL&FS Transportation Networks, Ltd. 3,561 6,257 India Cements, Ltd. 1,224,839 996,072 India Infoline, Ltd. 788,353 730,637 Indiabulls Housing Finance, Ltd. 378,779 1,301,957 * Indiabulls Infrastructure and Power, Ltd. 2,185,548 129,664 Indiabulls Real Estate, Ltd. 740,864 756,521 Indian Bank 373,289 512,068 Indian Hotels Co., Ltd. 1,574,156 1,255,139 Indian Oil Corp., Ltd. 1,181,824 3,898,508 Indian Overseas Bank 980,600 812,920 Indo Rama Synthetics India 45,998 14,149 Indoco Remedies, Ltd. 19,035 25,171 Indraprastha Gas, Ltd. 288,028 1,289,375 IndusInd Bank, Ltd. 878,135 6,357,310 Info Edge India, Ltd. 77,121 490,019 Infosys, Ltd. 225,217 11,992,569 # Infosys, Ltd. Sponsored ADR 669,643 35,531,258 Infotech Enterprises, Ltd. 89,648 366,795 ING Vysya Bank, Ltd. 84,082 807,178 Ingersoll-Rand India, Ltd. 31,787 171,733 Ipca Laboratories, Ltd. 147,825 1,635,375 IRB Infrastructure Developers, Ltd. 592,711 774,544 ITC, Ltd. 3,176,080 17,261,201 * IVRCL, Ltd. 1,129,390 240,327 Jagran Prakashan, Ltd. 171,172 237,953 Jai Corp., Ltd. 342,070 278,991 Jain Irrigation Systems, Ltd. 1,538,183 1,673,980 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- INDIA -- (Continued) Jaiprakash Associates, Ltd. 5,102,118 $ 3,954,944 * Jaiprakash Power Ventures, Ltd. 2,869,752 859,330 Jammu & Kashmir Bank, Ltd. 110,810 2,366,811 Jaypee Infratech, Ltd. 415,878 121,178 JB Chemicals & Pharmaceuticals, Ltd. 70,265 115,995 JBF Industries, Ltd. 72,755 96,037 * Jet Airways India, Ltd. 98,557 546,088 Jindal Drilling & Industries, Ltd. 14,415 40,497 Jindal Poly Films, Ltd. 71,897 163,338 * Jindal Poly Investments and Finance Co., Ltd. 17,974 1,521 Jindal Saw, Ltd. 555,926 431,069 * Jindal Stainless, Ltd. 175,981 109,790 Jindal Steel & Power, Ltd. 1,372,251 5,375,145 JK Cement, Ltd. 33,304 105,016 JK Lakshmi Cement, Ltd. 166,585 182,370 JM Financial, Ltd. 1,709,961 774,768 JSW Energy, Ltd. 2,552,391 1,925,526 JSW Steel, Ltd. 537,269 7,528,043 * Jubilant Foodworks, Ltd. 104,875 2,075,509 Jubilant Life Sciences, Ltd. 137,636 223,530 Jyothy Laboratories, Ltd. 229,782 695,941 Kajaria Ceramics, Ltd. 116,351 457,011 Kakinada Fertilizers, Ltd. 245,677 44,814 Kalpataru Power Transmission, Ltd. 107,844 136,234 Kansai Nerolac Paints, Ltd. 1,881 35,209 Karnataka Bank, Ltd. 633,621 1,046,337 Karur Vysya Bank, Ltd. 111,785 623,231 Kaveri Seed Co., Ltd. 19,313 499,823 KEC International, Ltd. 301,608 177,904 Kesoram Industries, Ltd. 100,387 99,329 Kewal Kiran Clothing, Ltd. 41 635 Kirloskar Brothers, Ltd. 2,275 5,746 Kirloskar Industries, Ltd. 867 3,614 Kirloskar Oil Engines, Ltd. 83,823 203,923 Kotak Mahindra Bank, Ltd. 1,088,468 13,349,319 KPIT Cummins Infosystems, Ltd. 608,124 1,443,720 KSB Pumps, Ltd. 13,268 51,918 * KSK Energy Ventures, Ltd. 42,495 41,265 Lakshmi Machine Works, Ltd. 15,110 578,212 Lakshmi Vilas Bank, Ltd. 199,284 237,431 * Lanco Infratech, Ltd. 2,816,098 281,316 Larsen & Toubro, Ltd. 1,182,208 18,715,492 Larsen & Toubro, Ltd. GDR 22,185 339,723 LIC Housing Finance, Ltd. 531,645 1,946,599 Lupin, Ltd. 253,549 3,653,951 Madras Cements, Ltd. 351,477 1,014,452 * Mahanagar Telephone Nigam 776,010 181,299 * Mahanagar Telephone Nigam ADR 32,600 12,714 Maharashtra Seamless, Ltd. 86,693 224,177 Mahindra & Mahindra Financial Services, Ltd. 423,025 1,952,869 Mahindra & Mahindra, Ltd. 1,238,790 17,839,522 Mahindra Holidays & Resorts India, Ltd. 22,317 78,583 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- INDIA -- (Continued) Mahindra Lifespace Developers, Ltd. 34,802 $ 242,433 Man Infraconstruction, Ltd. 2,502 4,858 Manaksia, Ltd. 20,016 15,272 Mandhana Industries, Ltd. 48,996 183,587 * Mangalore Refinery & Petrochemicals, Ltd. 1,517,638 988,260 Marico, Ltd. 342,160 1,173,844 Maruti Suzuki India, Ltd. 242,173 6,451,168 MAX India, Ltd. 550,687 1,691,524 McLeod Russel India, Ltd. 238,161 1,062,000 * Mercator, Ltd. 500,673 102,397 Merck, Ltd. 7,397 67,435 MindTree, Ltd. 57,743 1,301,239 MOIL, Ltd. 18,361 69,786 Monnet Ispat & Energy, Ltd. 67,077 142,406 Monsanto India, Ltd. 13,483 153,571 Motherson Sumi Systems, Ltd. 611,318 2,670,448 Motilal Oswal Financial Services, Ltd. 16,385 18,755 Mphasis, Ltd. 234,913 1,616,728 MRF, Ltd. 7,642 1,946,377 * Nagarjuna Oil Refinery, Ltd. 223,343 15,468 Natco Pharma, Ltd. 74,140 813,567 National Aluminium Co., Ltd. 1,461,456 871,730 Nava Bharat Ventures, Ltd. 53,812 136,551 Navneet Publications India, Ltd. 249,121 219,816 NCC, Ltd. 1,133,595 479,207 NESCO, Ltd. 26,287 301,006 Nestle India, Ltd. 26,456 2,411,773 NHPC, Ltd. 8,727,466 2,565,535 NIIT Technologies, Ltd. 205,919 935,310 NIIT, Ltd. 276,144 89,189 Nitin Fire Protection Industries, Ltd. 432,756 428,404 Noida Toll Bridge Co., Ltd. 192,455 64,584 NTPC, Ltd. 2,136,750 5,172,965 Oberoi Realty, Ltd. 145,165 445,759 OCL India, Ltd. 23,518 53,669 Oil & Natural Gas Corp., Ltd. 1,534,095 7,308,143 Oil India, Ltd. 370,022 2,848,897 OMAXE, Ltd. 277,031 633,313 Opto Circuits India, Ltd. 329,921 123,383 * Oracle Financial Services Software, Ltd. 66,143 3,444,317 Orchid Chemicals & Pharmaceuticals, Ltd. 134,629 106,954 Orient Cement Ltd. 199,965 122,282 Orient Paper & Industries, Ltd. 119,955 15,114 Oriental Bank of Commerce 409,919 1,201,959 Orissa Minerals Development Co., Ltd. 6,450 223,191 * Oswal Chemicals & Fertilizers 175,169 62,660 Page Industries, Ltd. 6,544 476,830 * Panacea Biotec, Ltd. 18,815 32,499 * Parsvnath Developers, Ltd. 471,869 201,044 Peninsula Land, Ltd. 230,414 115,029 Persistent Systems, Ltd. 20,155 266,223 * Peter England Fashions and Retail, Ltd. 1,620 2,671 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- INDIA -- (Continued) Petronet LNG, Ltd. 1,013,442 $ 2,036,175 Pfizer, Ltd. 12,254 214,649 Phoenix Mills, Ltd. 51,354 195,357 PI Industries, Ltd. 11,551 38,769 Pidilite Industries, Ltd. 400,662 1,876,390 * Pipavav Defence & Offshore Engineering Co., Ltd. 1,150,244 963,523 Piramal Enterprises, Ltd. 223,156 2,042,770 * Plethico Pharmaceuticals, Ltd. 66,992 37,661 Polaris Financial Technology, Ltd. 254,568 593,320 Polyplex Corp., Ltd. 17,984 38,740 Power Finance Corp., Ltd. 569,675 1,243,710 Power Grid Corp. of India, Ltd. 2,835,046 4,662,659 Praj Industries, Ltd. 360,290 224,797 Prestige Estates Projects, Ltd. 109,877 255,954 * Prime Focus, Ltd. 141,504 73,627 * Prism Cement, Ltd. 374,454 162,828 Procter & Gamble Hygiene & Health Care, Ltd. 5,757 257,863 * Prozone Capital Shopping Centres, Ltd. 3,927 1,203 PTC India Financial Services, Ltd. 15,688 2,856 PTC India, Ltd. 1,299,846 1,183,810 * Punj Lloyd, Ltd. 1,305,665 598,021 Punjab & Sind Bank 24,739 17,812 Radico Khaitan, Ltd. 302,898 717,264 Rain Commodities, Ltd. 469,898 276,880 Rajesh Exports, Ltd. 191,974 298,598 Rallis India, Ltd. 331,671 857,193 * Ranbaxy Laboratories, Ltd. 584,389 3,717,433 Raymond, Ltd. 232,401 1,008,869 Redington India, Ltd. 444,684 447,398 REI Agro, Ltd. 2,471,251 257,040 Reliance Capital, Ltd. 403,679 2,440,941 Reliance Communications, Ltd. 3,240,262 7,791,845 Reliance Industries, Ltd. 3,724,395 55,433,229 Reliance Infrastructure, Ltd. 430,192 3,025,981 * Reliance Power, Ltd. 3,489,020 4,156,926 Rolta India, Ltd. 605,058 618,069 Ruchi Soya Industries, Ltd. 490,199 278,817 Rural Electrification Corp., Ltd. 600,461 1,901,096 * S Kumars Nationwide, Ltd. 384,428 32,528 S Mobility, Ltd. 105,284 63,563 Sadbhav Engineering, Ltd. 77,022 79,532 Sanofi India, Ltd. 12,071 482,120 * Sanwaria Agro Oils, Ltd. 94,873 26,135 * Schneider Electric Infrastructure, Ltd. 119,154 124,751 Sesa Goa, Ltd. 2,589,117 8,468,217 * Sesa Goa, Ltd. ADR 347,049 4,476,932 * Shipping Corp. of India, Ltd. 664,795 375,177 Shoppers Stop, Ltd. 65,709 365,644 Shree Cement, Ltd. 26,465 1,907,856 Shree Renuka Sugars, Ltd. 2,597,457 954,360 Shriram Transport Finance Co., Ltd. 207,642 2,076,444 Siemens, Ltd. 250,035 2,397,845 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- INDIA -- (Continued) Sintex Industries, Ltd. 1,214,259 $ 646,787 * SITI Cable Network, Ltd. 79,022 22,760 SJVN, Ltd. 678,774 212,292 SKF India, Ltd. 45,105 439,350 Sobha Developers, Ltd. 335,276 1,691,476 Solar Industries India, Ltd. 10,416 168,710 South Indian Bank, Ltd. 2,491,777 857,044 SREI Infrastructure Finance, Ltd. 256,428 85,848 SRF, Ltd. 93,842 249,881 * Star Ferro and Cement, Ltd. 85,287 31,919 State Bank of Bikaner & Jaipur 47,976 253,008 State Bank of India 398,582 11,643,440 State Bank of India GDR 9,000 527,710 Steel Authority of India, Ltd. 1,660,377 1,677,947 * Sterling Biotech, Ltd. 260,553 22,089 Sterlite Technologies, Ltd. 538,765 182,023 Strides Arcolab, Ltd. 156,194 2,217,127 Styrolution ABS India, Ltd. 16,430 102,838 * Sun Pharma Advanced Research Co., Ltd. 344,348 730,846 Sun Pharmaceutical Industries, Ltd. 889,421 8,784,576 Sun TV Network, Ltd. 351,405 2,397,943 Sundaram Finance, Ltd. 10,572 91,200 Sundaram-Clayton, Ltd. 1,880 8,835 Sundram Fasteners, Ltd. 110,095 64,643 Supreme Industries, Ltd. 103,520 659,160 Supreme Petrochem, Ltd. 3,242 3,044 * Surana Industries, Ltd. 1,534 1,875 * Suzlon Energy, Ltd. 5,590,192 872,426 Swaraj Engines, Ltd. 1,260 10,154 Syndicate Bank 875,168 1,166,463 Tamil Nadu Newsprint & Papers, Ltd. 36,247 61,774 Tata Chemicals, Ltd. 418,322 1,825,553 Tata Communications, Ltd. 420,243 1,806,650 Tata Consultancy Services, Ltd. 663,346 22,748,134 Tata Elxsi, Ltd. 27,785 98,252 Tata Global Beverages, Ltd. 1,676,881 4,474,251 Tata Investment Corp., Ltd. 16,116 105,588 Tata Motors, Ltd. 1,689,345 10,471,362 # Tata Motors, Ltd. Sponsored ADR 236,834 7,417,641 Tata Power Co., Ltd. 3,681,191 4,917,162 Tata Steel, Ltd. 1,599,791 8,767,826 * Tata Teleservices Maharashtra, Ltd. 1,534,244 175,412 Tech Mahindra, Ltd. 313,305 7,897,369 Techno Electric & Engineering Co., Ltd. 7,483 9,865 Texmaco Rail & Engineering, Ltd. 100,362 49,134 Thermax, Ltd. 117,018 1,200,298 Time Technoplast, Ltd. 152,236 84,185 Timken India, Ltd. 54,549 138,678 Titagarh Wagons, Ltd. 9,530 14,852 Titan Industries, Ltd. 625,363 2,746,561 Torrent Pharmaceuticals, Ltd. 193,488 1,402,769 Torrent Power, Ltd. 344,154 468,967 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ------------ INDIA -- (Continued) Transport Corp. of India, Ltd. 35 $ 29 Trent, Ltd. 31,736 475,241 Triveni Turbine, Ltd. 225,096 192,351 TTK Prestige, Ltd. 10,928 586,304 Tube Investments of India, Ltd. 201,724 480,602 * Tulip Telecom, Ltd. 181,468 22,207 * TV18 Broadcast, Ltd. 3,190,430 1,203,987 TVS Motor Co., Ltd. 996,578 824,233 UCO Bank 1,897,998 2,241,466 Uflex, Ltd. 119,231 130,464 Ultratech Cement, Ltd. 150,643 4,804,113 Unichem Laboratories, Ltd. 153,481 446,948 Union Bank of India 395,491 794,454 * Unitech, Ltd. 8,975,118 2,550,752 United Bank of India 50,566 27,781 United Breweries, Ltd. 155,855 2,329,371 United Phosphorus, Ltd. 1,615,764 4,308,914 United Spirits, Ltd. 244,586 10,231,216 Usha Martin, Ltd. 571,942 234,261 * Uttam Galva Steels, Ltd. 60,136 57,188 * Uttam Value Steels, Ltd. 130,697 13,809 V-Guard Industries, Ltd. 63,594 504,708 VA Tech Wabag, Ltd. 2,011 17,677 Vakrangee Software, Ltd. 175,341 192,050 * Vardhman Special Steels, Ltd. 5,275 1,210 Vardhman Textiles, Ltd. 31,063 179,603 * Videocon Industries, Ltd. 326,184 920,903 Vijaya Bank 1,171,149 786,911 VIP Industries, Ltd. 273,295 253,380 Voltamp Transformers, Ltd. 4,010 23,867 Voltas, Ltd. 864,882 1,257,260 VST Industries, Ltd. 12,340 293,378 WABCO India, Ltd. 7,089 193,976 Welspun Corp., Ltd. 498,775 344,949 Wipro, Ltd. 1,472,558 11,488,655 Wockhardt, Ltd. 70,880 514,086 Wyeth, Ltd. 17,942 185,365 Yes Bank, Ltd. 547,726 3,282,188 Zee Entertainment Enterprises, Ltd. 1,402,873 6,068,019 * Zee Learn, Ltd. 9,488 4,197 Zensar Technologies, Ltd. 67,244 294,641 Zuari Agro Chemicals, Ltd. 22,948 35,146 Zuari Global, Ltd. 22,948 19,624 Zydus Wellness, Ltd. 53,724 493,985 ------------ TOTAL INDIA 869,914,562 ------------ INDONESIA -- (2.3%) Ace Hardware Indonesia Tbk PT 6,992,500 378,286 Adaro Energy Tbk PT 50,982,000 4,609,013 Adhi Karya Persero Tbk PT 8,487,000 1,466,752 * Agis Tbk PT 13,708,000 547,058 Agung Podomoro Land Tbk PT 9,381,000 232,584 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ----------- ----------- INDONESIA -- (Continued) AKR Corporindo Tbk PT 7,387,300 $ 3,174,872 Alam Sutera Realty Tbk PT 61,816,000 3,333,423 Aneka Tambang Persero Tbk PT 28,570,000 4,048,897 Arwana Citramulia Tbk PT 6,330,000 505,267 Asahimas Flat Glass Tbk PT 476,500 348,978 Astra Agro Lestari Tbk PT 1,553,000 2,560,039 Astra Graphia Tbk PT 2,554,000 375,961 Astra International Tbk PT 32,885,500 19,388,913 * Bakrie and Brothers Tbk PT 249,014,750 1,104,523 * Bakrie Sumatera Plantations Tbk PT 58,480,500 259,472 * Bakrie Telecom Tbk PT 62,111,539 275,158 * Bakrieland Development Tbk PT 157,101,000 697,373 Bank Bukopin Tbk PT 28,011,000 1,613,592 Bank Central Asia Tbk PT 19,992,000 18,522,735 Bank Danamon Indonesia Tbk PT 7,971,554 3,042,961 Bank Mandiri Persero Tbk PT 23,110,018 17,646,790 Bank Negara Indonesia Persero Tbk PT 37,510,730 15,990,346 * Bank Pan Indonesia Tbk PT 27,266,500 1,737,189 Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT 10,857,500 878,298 * Bank Permata Tbk PT 203,500 25,705 Bank Rakyat Indonesia Persero Tbk PT 30,269,500 21,243,951 Bank Tabungan Negara Persero Tbk PT 25,588,035 2,202,417 * Bank Tabungan Pensiunan Nasional Tbk PT 2,253,500 873,903 * Barito Pacific Tbk PT 8,261,500 351,881 * Bayan Resources Tbk PT 950,000 732,794 * Benakat Petroleum Energy Tbk PT 15,716,500 165,810 * Berau Coal Energy Tbk PT 19,622,000 315,127 * Berlian Laju Tanker Tbk PT 26,853,166 -- Bhakti Investama Tbk PT 100,455,900 3,116,621 Bisi International PT 10,087,612 545,063 * Borneo Lumbung Energi & Metal Tbk PT 6,860,500 133,687 * Budi Acid Jaya Tbk PT 2,800,500 23,591 * Bumi Resources Minerals Tbk PT 392,500 8,171 * Bumi Resources Tbk PT 43,464,000 1,750,246 Bumi Serpong Damai PT 42,750,500 5,930,303 BW Plantation Tbk PT 12,169,500 1,003,202 * Central Proteinaprima Tbk PT 22,741,500 100,881 * Chandra Asri Petrochemical Tbk PT 7,000 2,053 Charoen Pokphand Indonesia Tbk PT 12,481,660 4,313,835 Ciputra Development Tbk PT 41,953,219 3,827,883 Ciputra Property Tbk PT 4,709,000 328,714 Ciputra Surya Tbk PT 6,083,500 1,223,920 * Citra Marga Nusaphala Persada Tbk PT 8,995,000 2,532,367 Clipan Finance Indonesia Tbk PT 2,919,000 109,052 * Darma Henwa Tbk PT 55,755,500 247,308 * Davomas Abadi Tbk PT 4,583,000 -- * Delta Dunia Makmur Tbk PT 29,995,500 231,039 Elnusa Tbk PT 12,798,000 351,743 * Energi Mega Persada Tbk PT 215,986,000 1,531,794 * Erajaya Swasembada Tbk PT 1,658,500 199,944 * Exploitasi Energi Indonesia Tbk PT 30,095,500 694,054 * Fajar Surya Wisesa Tbk PT 823,000 145,921 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ----------- ----------- INDONESIA -- (Continued) Gajah Tunggal Tbk PT 10,787,500 $ 2,198,802 * Garda Tujuh Buana Tbk PT 154,500 13,576 * Garuda Indonesia Persero Tbk PT 1,009,000 43,838 Global Mediacom Tbk PT 27,236,500 4,613,266 * Gozco Plantations Tbk PT 10,507,300 108,091 Gudang Garam Tbk PT 1,297,000 4,240,557 * Hanson International Tbk PT 19,823,500 931,543 Harum Energy Tbk PT 4,640,000 1,293,953 Hexindo Adiperkasa Tbk PT 1,125,500 314,428 Holcim Indonesia Tbk PT 9,799,500 2,237,967 * Indah Kiat Pulp & Paper Corp. Tbk PT 8,510,500 1,161,343 Indika Energy Tbk PT 13,728,000 948,966 Indo Tambangraya Megah Tbk PT 1,138,500 3,018,762 * Indo-Rama Synthetics Tbk PT 12,500 1,223 Indocement Tunggal Prakarsa Tbk PT 3,570,000 6,615,944 Indofood CBP Sukses Makmur Tbk PT 3,610,500 3,584,463 Indofood Sukses Makmur Tbk PT 17,797,000 10,484,686 Indosat Tbk PT 3,280,000 1,279,385 # Indosat Tbk PT ADR 26,890 551,245 * Inovisi Infracom Tbk PT 1,957,278 133,608 Intiland Development Tbk PT 28,334,800 928,613 Japfa Comfeed Indonesia Tbk PT 21,341,000 2,648,409 Jasa Marga Persero Tbk PT 5,619,000 2,615,867 Jaya Real Property Tbk PT 1,762,500 137,575 Kalbe Farma Tbk PT 40,745,000 4,691,104 Kawasan Industri Jababeka Tbk PT 113,360,890 2,458,560 * Krakatau Steel Persero Tbk PT 285,000 14,152 * Lippo Cikarang Tbk PT 2,191,500 1,308,610 * Lippo Karawaci Tbk PT 108,943,062 10,908,707 Malindo Feedmill Tbk PT 6,712,500 2,007,110 Matahari Putra Prima Tbk PT 11,816,772 2,513,653 Mayora Indah Tbk PT 1,770,125 4,593,261 Medco Energi Internasional Tbk PT 7,759,500 1,686,125 Media Nusantara Citra Tbk PT 13,771,093 3,049,837 Mitra Adiperkasa Tbk PT 4,201,000 2,011,586 * Mitra International Resources Tbk PT 5,183,500 27,109 Modern Internasional Tbk PT 1,883,000 142,750 * Modernland Realty Tbk PT 2,559,000 183,773 Multipolar Corp. Tbk PT 9,603,000 344,668 * Multistrada Arah Sarana Tbk PT 3,155,000 103,387 Nippon Indosari Corpindo Tbk PT 229,500 126,138 Nusantara Infrastructure Tbk PT 35,495,500 802,959 Pabrik Kertas Tjiwi Kimia Tbk PT 1,139,500 195,540 Pakuwon Jati Tbk PT 35,914,900 985,509 * Panin Financial Tbk PT 104,668,500 1,855,250 Panin Insurance Tbk PT 5,396,500 340,737 Pembangunan Perumahan Persero Tbk PT 12,858,000 1,492,019 Perusahaan Gas Negara Persero Tbk PT 18,051,000 8,164,336 Perusahaan Perkebunan London Sumatra Indonesia Tbk PT 18,774,500 2,662,250 Petrosea Tbk PT 3,285,500 390,533 * Polaris Investama Tbk PT 577,000 42,875 * Polychem Indonesia Tbk PT 8,339,500 221,678 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ----------- ------------ INDONESIA -- (Continued) Ramayana Lestari Sentosa Tbk PT 17,804,500 $ 1,942,196 Resource Alam Indonesia Tbk PT 2,183,500 493,310 Salim Ivomas Pratama Tbk PT 1,388,500 98,457 * Samindo Resources Tbk PT 348,500 19,488 Sampoerna Agro PT 4,857,559 766,213 Samudera Indonesia Tbk PT 117,000 33,502 Selamat Sempurna Tbk PT 3,002,500 745,579 Semen Indonesia Persero Tbk PT 5,274,500 6,710,708 * Sentul City Tbk PT 153,047,500 2,914,446 Sinar Mas Multiartha Tbk PT 278,500 93,607 * Sugih Energy Tbk PT 34,803,500 1,419,354 Summarecon Agung Tbk PT 41,623,564 3,870,373 Surya Citra Media Tbk PT 1,206,000 251,353 Surya Semesta Internusa Tbk PT 22,164,500 1,571,489 * Suryainti Permata Tbk PT 3,098,000 -- Tambang Batubara Bukit Asam Persero Tbk PT 3,187,000 3,435,447 Telekomunikasi Indonesia Persero Tbk PT 30,699,000 6,385,711 # Telekomunikasi Indonesia Persero Tbk PT Sponsored ADR 262,105 10,683,400 Tiga Pilar Sejahtera Food Tbk 11,413,339 1,335,430 Timah Persero Tbk PT 20,503,000 2,943,469 Total Bangun Persada Tbk PT 7,191,500 471,618 * Tower Bersama Infrastructure Tbk PT 2,954,500 1,493,032 * Trada Maritime Tbk PT 22,254,487 3,000,146 Trias Sentosa Tbk PT 3,690,500 98,257 * Trimegah Securities Tbk PT 5,343,500 31,793 * Truba Alam Manunggal Engineering PT 15,388,500 68,257 Tunas Baru Lampung Tbk PT 7,413,500 315,472 Tunas Ridean Tbk PT 8,038,500 406,313 * Ultrajaya Milk Industry & Trading Co. Tbk PT 2,569,000 1,121,534 Unilever Indonesia Tbk PT 1,827,500 4,859,282 United Tractors Tbk PT 5,312,246 8,245,004 Vale Indonesia Tbk PT 12,646,250 2,769,525 Wijaya Karya Persero Tbk PT 13,305,000 2,264,048 XL Axiata Tbk PT 8,638,000 3,426,399 ------------ TOTAL INDONESIA 334,715,998 ------------ ISRAEL -- (0.0%) Mivtach Shamir 9,006 330,970 ------------ MALAYSIA -- (4.1%) Aeon Co. M Bhd 437,200 2,214,639 Aeon Credit Service M Bhd 88,560 455,665 Affin Holdings Bhd 2,288,200 3,090,579 AirAsia BHD 8,203,600 6,964,409 Alam Maritim Resources Bhd 2,190,600 1,102,947 Alliance Financial Group Bhd 5,542,500 9,110,661 AMMB Holdings Bhd 6,809,350 15,981,346 Amway Malaysia Hldgs 106,300 418,900 * Ann Joo Resources Bhd 974,750 370,590 APM Automotive Holdings Bhd 249,800 454,240 Axiata Group Bhd 5,059,725 11,014,168 Batu Kawan BHD 360,250 2,234,042 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- MALAYSIA -- (Continued) Benalec Holdings BHD 3,569,500 $ 1,346,594 Berjaya Assets BHD 156,600 42,121 Berjaya Corp. Bhd 11,312,700 1,934,744 Berjaya Land Bhd 2,769,200 741,584 Berjaya Sports Toto Bhd 1,987,129 2,563,025 BIMB Holdings Bhd 2,028,800 3,096,937 Bonia Corp. Bhd 64,300 69,401 * Borneo Aqua Harvest Bhd 128,600 53,781 * Boustead Heavy Industries Corp. Bhd 226,400 189,942 Boustead Holdings Bhd 2,139,792 3,546,623 British American Tobacco Malaysia Bhd 250,700 5,045,122 * Bumi Armada Bhd 3,353,400 4,208,385 Bursa Malaysia Bhd 1,302,700 3,319,348 Cahya Mata Sarawak Bhd 1,133,900 1,831,773 Can-One Bhd 200,500 222,345 Carlsberg Brewery Malaysia Bhd Class B 467,600 1,896,026 Carotech Berhad 44,425 282 CB Industrial Product Holding Bhd 1,059,360 983,604 CIMB Group Holdings Bhd 14,070,063 33,444,890 Coastal Contracts Bhd 1,256,477 1,397,511 CSC Steel Holdings Bhd 470,500 196,736 Cypark Resources Bhd 1,150,100 772,294 Daibochi Plastic & Packaging Industry Bhd 31,400 35,448 Daya Materials Bhd 8,748,400 1,108,571 Dayang Enterprise Holdings Bhd 684,975 1,190,328 Dialog Group BHD 5,000,073 4,355,008 DiGi.Com Bhd 5,095,220 8,069,793 Dijaya Corp. Bhd 2,588,400 1,189,470 DRB-Hicom Bhd 6,279,300 5,053,048 Dutch Lady Milk Industries BHD 61,200 901,842 Eastern & Oriental Bhd 7,263,482 4,623,463 ECM Libra Financial Group Bhd 318,034 105,867 Evergreen Fibreboard Bhd 741,700 111,624 Eversendai Corp. Bhd 48,800 22,893 Faber Group BHD 1,589,000 1,320,907 * Fountain View Development Berhad 31,500 -- Fraser & Neave Holdings Bhd 193,100 1,139,119 Gamuda Bhd 6,955,800 10,734,866 Genting Bhd 5,267,200 17,487,226 Genting Malaysia Bhd 10,928,700 14,958,665 Genting Plantations Bhd 990,300 3,413,496 Globetronics Technology BHD 997,520 954,417 Glomac Bhd 2,696,600 965,458 * Goldis BHD 464,439 292,755 * Green Packet Bhd 1,444,500 228,544 Guan Chong Bhd 103,300 51,064 Guinness Anchor Bhd 443,000 2,427,855 GuocoLand Malaysia Bhd 732,700 262,290 Hai-O Enterprise BHD 649,700 574,443 HAP Seng Consolidated Bhd 5,708,340 4,430,987 Hap Seng Plantations Holdings Bhd 1,375,600 1,154,786 Hartalega Holdings Bhd 785,700 1,800,891 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- MALAYSIA -- (Continued) Hiap Teck Venture Bhd 222,200 $ 50,705 * HO WAH Genting BHD 1,858,500 129,546 Hock Seng LEE BHD 722,112 450,540 Hong Leong Bank Bhd 1,626,260 7,362,812 Hong Leong Financial Group Bhd 689,900 3,306,737 Hong Leong Industries Bhd 221,200 363,264 * Hovid Bhd 177,700 20,560 Hua Yang Bhd 730,333 500,016 * Hubline Bhd 209,100 3,633 HwangDBS Malaysia BHD 162,500 220,836 IGB Corp. Bhd 4,826,599 4,070,582 IGB REIT 68,644 26,097 IJM Corp. Bhd 7,758,663 14,265,871 IJM Land Bhd 2,357,600 2,089,051 IJM Plantations Bhd 1,112,100 1,142,327 Inch Kenneth Kajang Rubber 113,000 32,593 Insas Bhd 1,780,002 360,744 Integrated Logistics Bhd 169,035 105,562 Integrax BHD 229,000 141,534 IOI Corp. Bhd 5,681,377 9,800,766 Iris Corp. Bhd 1,182,400 101,130 * JAKS Resources Bhd 4,007,500 705,418 Jaya Tiasa Holdings BHD 1,513,239 1,020,672 JCY International Bhd 3,991,800 803,245 JobStreet Corp. Bhd 45,200 30,773 JT International Bhd 141,800 295,738 * K&N Kenanga Holdings BHD(6486615) 971,886 183,182 K&N Kenanga Holdings BHD(B987B91), 5.000% 56,619 10 * Karambunai Corp. Bhd 4,574,700 130,715 Keck Seng Malaysia Bhd 316,300 709,652 Kian JOO CAN Factory BHD 1,734,380 1,743,414 Kim Loong Resources Bhd 259,020 198,675 Kimlun Corp. Bhd 584,300 372,353 * Kinsteel Bhd 2,317,700 201,457 KLCC Property Holdings Bhd 1,100,800 2,252,188 * KNM Group Bhd 6,966,368 904,883 Kossan Rubber Industries 926,600 1,876,145 KPJ Healthcare Bhd 1,614,050 3,120,672 * Kretam Holdings BHD 158,300 174,032 * KSL Holdings BHD 868,766 568,419 Kuala Lumpur Kepong Bhd 944,222 6,909,282 * KUB Malaysia BHD 1,459,400 210,579 Kulim Malaysia BHD 2,787,100 3,002,761 * Kumpulan Europlus Bhd 1,411,400 554,598 Kumpulan Fima BHD 909,400 567,444 Kumpulan Perangsang Selangor Bhd 1,779,600 1,313,929 Kwantas Corp. BHD 23,900 15,646 Lafarge Malayan Cement Bhd 1,585,700 5,006,251 * Land & General BHD 4,506,500 499,782 * Landmarks BHD 1,216,092 454,290 LBS Bina Group Bhd 1,632,300 920,396 Lingkaran Trans Kota Holdings Bhd 603,500 870,292 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- MALAYSIA -- (Continued) * Lion Corp. Bhd 513,980 $ 17,082 Lion Diversified Holdings Bhd 445,000 31,012 Lion Industries Corp. Bhd 3,350,600 938,900 LPI Capital Bhd 63,100 329,889 Mah Sing Group Bhd 5,151,847 3,654,144 Malayan Banking Bhd 12,903,788 39,996,828 Malayan Flour Mills Bhd 838,200 361,145 Malaysia Airports Holdings Bhd 2,888,054 7,700,247 Malaysia Building Society 768,874 682,235 Malaysia Marine and Heavy Engineering Holdings Bhd 1,886,100 2,319,430 * Malaysian Airline System Bhd 18,989,630 2,043,331 Malaysian Bulk Carriers Bhd 2,604,223 1,460,208 Malaysian Pacific Industries Bhd 271,925 242,897 Malaysian Resources Corp. Bhd 7,691,300 3,485,341 Maxis Bhd 3,266,015 7,442,865 MBM Resources BHD 897,810 1,069,549 Media Chinese International, Ltd. 811,200 274,963 Media Prima Bhd 3,953,520 3,307,151 Mega First Corp. BHD 167,300 97,004 * MISC Bhd 1,396,360 2,260,057 MK Land Holdings BHD 997,300 115,343 MKH BHD 462,056 374,748 MMC Corp. Bhd 4,268,200 3,623,912 MNRB Holdings Bhd 773,500 858,125 Mudajaya Group Bhd 1,839,033 1,619,480 Muhibbah Engineering M Bhd 3,221,800 2,409,461 * Mulpha International Bhd 12,681,100 1,706,848 Multi-Purpose Holdings BHD 244,700 256,778 My EG Services Bhd 1,289,500 947,324 Naim Holdings Bhd 1,267,600 1,554,361 NCB Holdings Bhd 136,500 156,978 Nestle Malaysia Bhd 84,800 1,826,709 NTPM Holdings Bhd 986,100 209,377 Oldtown Bhd 456,300 358,614 Oriental Holdings BHD 606,340 1,698,266 OSK Holdings BHD 1,754,645 913,383 Padini Holdings Bhd 1,637,400 918,162 Panasonic Manufacturing Malaysia BHD 70,200 520,637 Paramount Corp. Bhd 487,460 242,405 Parkson Holdings Bhd 2,593,055 3,090,129 * Pelikan International Corp. Bhd 418,822 88,837 * Perdana Petroleum Bhd 2,207,000 1,425,952 * Perisai Petroleum Teknologi Bhd 3,915,900 1,749,780 Petronas Chemicals Group Bhd 5,531,600 12,464,498 Petronas Dagangan BHD 541,000 5,246,684 Petronas Gas Bhd 1,197,908 9,312,466 Pharmaniaga Bhd 307,380 463,325 Pie Industrial BHD 54,600 90,811 PJ Development Holdings Bhd 549,600 207,225 POS Malaysia BHD 1,604,600 2,902,625 PPB Group Bhd 1,974,600 9,194,785 Press Metal Bhd 696,500 542,136 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- MALAYSIA -- (Continued) Prestariang Berhad 406,100 $ 298,554 Protasco Bhd 271,000 119,342 Public Bank Bhd 1,521,156 8,830,718 Puncak Niaga Holding Bhd 860,860 922,264 QL Resources Bhd 1,283,840 1,610,455 RCE Capital Bhd 840,450 73,025 RHB Capital Bhd 4,432,389 11,088,670 Rimbunan Sawit Bhd 832,100 220,099 Salcon Bhd 1,791,000 383,190 * Sapurakencana Petroleum Bhd 10,816,888 13,715,151 Sarawak Oil Palms Bhd 434,660 798,681 Sarawak Plantation Bhd 18,900 15,281 Scientex BHD 142,264 253,786 * Scomi Energy Services Bhd 1,033,600 246,999 * Scomi Group Bhd 9,803,800 1,180,085 SEG International BHD 311,400 152,970 Selangor Dredging Bhd 366,400 105,148 Selangor Properties Bhd 63,100 83,753 Shangri-La Hotels Malaysia Bhd 373,100 817,333 Shell Refining Co. Federation of Malaya Bhd 233,300 526,758 SHL Consolidated BHD 202,800 147,204 Sime Darby Bhd 5,342,524 16,136,876 SP Setia Bhd 1,530,200 1,489,495 Star Publications Malaysia Bhd 1,061,400 837,648 Subur Tiasa Holdings Bhd 118,860 72,365 Sunway Bhd 3,832,693 3,384,155 Supermax Corp. Bhd 3,578,650 2,991,773 Suria Capital Holdings Bhd 229,350 148,284 Syarikat Takaful Malaysia Bhd 206,800 611,001 * Symphony Life Bhd 287,432 109,334 Ta Ann Holdings Bhd 594,386 704,757 TA Enterprise Bhd 6,976,600 1,603,419 TA Global Bhd 1,600,240 149,564 TAN Chong Motor Holdings BHD 1,159,800 2,314,682 Tasek Corp. Bhd 38,700 191,761 TDM BHD 5,473,100 1,569,876 * Tebrau Teguh Bhd 2,967,900 1,269,641 Telekom Malaysia Bhd 2,748,700 4,563,828 Tenaga Nasional Bhd 5,693,881 17,015,120 * TH Heavy Engineering Bhd 5,396,534 1,479,579 TH Plantations Bhd 1,175,640 651,964 Three-A Resources BHD 168,300 50,922 * Time dotCom Bhd 1,420,660 1,822,477 Tiong NAM Logistics Holdings 9,900 15,218 Top Glove Corp. Bhd 1,764,480 3,191,714 TRC Synergy Bhd 384,192 70,031 * Trinity Corp. Bhd 700,000 15,540 TSH Resources Bhd 1,509,400 1,206,055 Uchi Technologies Bhd 1,022,100 469,441 UEM Land Holdings Bhd 7,967,045 5,903,246 UMW Holdings Bhd 2,140,206 8,679,105 Unico-Desa Plantations Bhd 1,109,893 407,699 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ------------ MALAYSIA -- (Continued) Unisem M Bhd 3,557,620 $ 997,432 United Malacca Bhd 197,950 452,355 United Plantations BHD 153,600 1,300,717 UOA Development Bhd 1,184,000 836,660 Uzma Bhd 35,700 53,401 VS Industry Bhd 167,208 71,544 Wah Seong Corp. Bhd 1,477,439 795,849 WCT Holdings Bhd 3,613,685 2,805,113 Wing Tai Malaysia BHD 378,400 313,933 WTK Holdings BHD 2,592,150 1,067,245 Yinson Holdings BHD 298,900 458,401 YNH Property Bhd 1,236,799 705,458 YTL Corp. Bhd 22,241,720 11,628,404 YTL E-Solutions BHD 747,100 153,798 * YTL Land & Development BHD 949,200 292,967 YTL Power International Bhd 8,866,254 5,338,561 Zhulian Corp. Bhd 613,366 870,649 ------------ TOTAL MALAYSIA 583,105,142 ------------ MEXICO -- (4.8%) Alfa S.A.B. de C.V. Class A 12,826,789 35,116,435 # Alpek S.A. de C.V. 414,615 896,138 Alsea S.A.B. de C.V. 2,148,517 6,685,684 # America Movil S.A.B. de C.V. Series L 11,255,187 12,051,196 # America Movil S.A.B. de C.V. Series L ADR 2,589,383 55,438,689 Arca Continental S.A.B. de C.V. 1,813,916 10,732,860 #* Axtel S.A.B. de C.V. 5,642,590 1,777,466 # Banregio Grupo Financiero S.A.B. de C.V. 529,260 2,929,189 #* Bio Pappel S.A.B. de C.V. 112,294 277,911 # Bolsa Mexicana de Valores S.A.B. de C.V. 2,532,019 6,012,144 #* Cemex S.A.B. de C.V. 5,739,501 6,097,031 #* Cemex S.A.B. de C.V. Sponsored ADR 6,149,067 65,057,129 Cia Minera Autlan S.A.B. de C.V. Series B 415,942 283,410 Coca-Cola Femsa S.A.B. de C.V. Series L 61,254 746,470 # Coca-Cola Femsa S.A.B. de C.V. Sponsored ADR 88,885 10,803,083 # Compartamos S.A.B. de C.V. 2,050,744 3,981,325 * Consorcio ARA S.A.B. de C.V. Series * 5,781,371 2,255,431 # Controladora Comercial Mexicana S.A.B. de C.V. 3,497,545 14,266,558 # Corp. Actinver S.A.B. de C.V. 4,400 4,903 #* Corp. GEO S.A.B. de C.V. Series B 3,284,556 123,171 Corp. Inmobiliaria Vesta S.A.B. de C.V. 31,570 60,492 #* Corp. Interamericana de Entretenimiento S.A.B. de C.V. Class B 222,600 151,843 Corp. Moctezuma S.A.B. de C.V. Series * 392,200 1,232,158 #* Desarrolladora Homex S.A.B. de C.V. 1,208,349 299,604 #* Desarrolladora Homex S.A.B. de C.V. ADR 89,264 117,828 * Dine S.A.B. de C.V. 7,300 2,238 El Puerto de Liverpool S.A.B. de C.V. 467,708 5,036,897 #* Empresas ICA S.A.B. de C.V. 2,816,477 5,349,196 #* Empresas ICA S.A.B. de C.V. Sponsored ADR 361,145 2,748,313 #* Financiera Independencia S.A.B. de C.V. 246,788 87,576 Fomento Economico Mexicano S.A.B. de C.V. 357,700 3,343,349 # Fomento Economico Mexicano S.A.B. de C.V. Sponsored ADR 555,503 51,828,430 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ------------ MEXICO -- (Continued) #* Genomma Lab Internacional S.A.B. de C.V. Class B 3,829,860 $ 10,200,436 * Gruma S.A.B. de C.V. Class B 1,678,597 11,541,661 * Gruma S.A.B. de C.V. Sponsored ADR 6,300 172,368 * Grupo Aeromexico S.A.B. de C.V. 76,515 105,619 Grupo Aeroportuario del Centro Norte S.A.B. de C.V. 733,969 2,502,771 Grupo Aeroportuario del Centro Norte S.A.B. de C.V. ADR 100 2,719 Grupo Aeroportuario del Pacifico S.A.B. de C.V. ADR 157,170 8,171,268 Grupo Aeroportuario del Pacifico S.A.B. de C.V. Class B 731,662 3,809,931 # Grupo Aeroportuario del Sureste S.A.B. de C.V. ADR 56,286 6,698,597 # Grupo Aeroportuario del Sureste S.A.B. de C.V. Class B 935,014 11,125,787 # Grupo Bimbo S.A.B. de C.V. Series A 4,680,889 15,749,758 Grupo Carso S.A.B. de C.V. Series A1 1,967,715 10,721,406 Grupo Cementos de Chihuahua S.A.B. de C.V. 211,154 634,324 # Grupo Comercial Chedraui S.A. de C.V. 1,607,908 5,010,829 Grupo Elektra S.A.B. de C.V. 3,880 130,833 * Grupo Famsa S.A.B. de C.V. Class A 1,982,286 3,760,300 Grupo Financiero Banorte S.A.B. de C.V. 8,197,629 52,475,884 Grupo Financiero Inbursa S.A.B. de C.V. 6,208,200 15,997,217 Grupo Financiero Santander Mexico S.A.B. de C.V. Class B ADR 105,060 1,484,498 Grupo Gigante S.A.B. de C.V. Series * 41,000 86,102 # Grupo Herdez S.A.B. de C.V. Series * 716,493 2,526,102 Grupo Industrial Maseca S.A.B. de C.V. Class B 60,400 108,049 Grupo Industrial Saltillo S.A.B. de C.V. 72,099 120,190 Grupo KUO S.A.B. de C.V. Series B 252,257 485,286 Grupo Mexico S.A.B. de C.V. Series B 12,013,141 38,072,650 #* Grupo Pochteca S.A.B. de C.V. 376,611 506,295 #* Grupo Simec S.A.B. de C.V. Series B 706,654 2,634,940 * Grupo Simec S.A.B. de C.V. Sponsored ADR 6,406 71,235 * Grupo Sports World S.A.B. de C.V. 136,129 197,194 Grupo Televisa S.A.B. Series CPO 1,294,544 7,877,051 # Grupo Televisa S.A.B. Sponsored ADR 1,810,392 55,108,332 #* Impulsora del Desarrollo y El Empleo en America Latina S.A.B. de C.V. 2,073,184 4,210,801 # Industrias Bachoco S.A.B. de C.V. ADR 8,734 358,007 Industrias Bachoco S.A.B. de C.V. Series B 65,645 225,303 #* Industrias CH S.A.B. de C.V. Series B 1,078,183 5,290,408 Industrias Penoles S.A.B. de C.V. 316,697 9,195,373 * Inmuebles Carso S.A.B. de C.V. 2,196,725 2,188,770 Kimberly-Clark de Mexico S.A.B. de C.V. Class A 4,662,665 14,176,774 Megacable Holdings S.A.B. de C.V. 205,349 677,558 # Mexichem S.A.B. de C.V. 4,830,871 20,127,318 #* Minera Frisco S.A.B. de C.V. 1,010,100 2,593,524 #* OHL Mexico S.A.B. de C.V. 1,719,699 4,412,847 # Organizacion Cultiba S.A.B. de C.V. 8,600 17,797 #* Organizacion Soriana S.A.B. de C.V. Class B 3,234,065 10,465,211 #* Promotora y Operadora de Infraestructura S.A.B. de C.V. 1,004,512 10,200,448 # Qualitas Controladora S.A.B. de C.V. 169,259 400,080 # TV Azteca S.A.B. de C.V. 4,170,193 2,080,742 #* Urbi Desarrollos Urbanos S.A.B. de C.V. 1,795,501 216,056 * Vitro S.A.B. de C.V. Series A 193,764 437,954 # Wal-Mart de Mexico S.A.B. de C.V. Series V 9,333,619 24,265,371 ------------ TOTAL MEXICO 685,424,121 ------------ EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- PERU -- (0.1%) Cementos Pacasmayo SAA ADR 3,326 $ 39,313 # Cia de Minas Buenaventura SA ADR 157,651 2,285,940 Credicorp, Ltd. 121,494 16,596,080 ----------- TOTAL PERU 18,921,333 ----------- PHILIPPINES -- (1.3%) A Soriano Corp. 818,000 132,898 Aboitiz Equity Ventures, Inc. 4,181,120 4,924,860 Aboitiz Power Corp. 4,869,200 3,833,220 Alliance Global Group, Inc. 24,695,294 15,068,400 Alsons Consolidated Resources, Inc. 770,000 24,237 Atlas Consolidated Mining & Development 2,931,100 838,173 Ayala Corp. 533,205 7,444,636 Ayala Land, Inc. 10,596,820 7,213,998 Bank of the Philippine Islands 2,705,203 6,259,837 BDO Unibank, Inc. 4,625,889 8,678,498 * Belle Corp. 16,642,000 2,003,886 Cebu Air, Inc. 1,166,910 1,424,074 Cebu Holdings, Inc. 2,065,000 278,441 China Banking Corp. 593,950 852,073 COL Financial Group, Inc. 133,700 52,677 * Cyber Bay Corp. 3,846,000 45,391 DMCI Holdings, Inc. 4,032,070 4,829,968 * East West Banking Corp. 19,300 11,410 EEI Corp. 1,807,800 451,371 * Empire East Land Holdings, Inc. 22,778,000 500,344 Energy Development Corp. 33,463,800 4,490,950 Filinvest Development Corp. 89,300 8,750 Filinvest Land, Inc. 81,341,687 3,024,811 First Gen Corp. 6,061,600 2,255,490 First Philippine Holdings Corp. 1,352,890 2,175,459 * Global-Estate Resorts, Inc. 9,334,000 293,124 Globe Telecom, Inc. 128,830 5,190,032 International Container Terminal Services, Inc. 3,237,972 7,795,566 JG Summit Holdings, Inc. 1,138,500 1,150,569 Jollibee Foods Corp. 1,311,937 5,388,493 Lafarge Republic, Inc. 2,504,060 539,255 Leisure & Resorts World Corp. 362,520 54,294 * Lepanto Consolidated Mining 24,273,207 240,885 Lopez Holdings Corp. 10,991,000 1,228,147 Manila Electric Co. 481,380 3,385,584 Manila Water Co., Inc. 3,748,400 2,167,687 * Megawide Construction Corp. 522,470 135,766 Megaworld Corp. 82,317,600 7,303,356 * Metro Pacific Corp. Series A 225,000 -- Metro Pacific Investments Corp. 46,031,100 5,196,848 Metropolitan Bank & Trust 3,361,568 6,931,030 Pepsi-Cola Products Philippines, Inc. 6,990,791 784,798 Petron Corp. 22,700 6,514 * Philex Mining Corp. 770,250 155,945 * Philex Petroleum Corp. 75,900 15,350 Philippine Long Distance Telephone Co. 17,110 1,135,385 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ----------- ------------ PHILIPPINES -- (Continued) Philippine Long Distance Telephone Co. Sponsored ADR 51,538 $ 3,409,239 * Philippine National Bank 1,355,000 3,026,849 Philippine Stock Exchange, Inc. 70,460 593,507 Philodrill Corp. 177,800,000 156,518 Philtown Properties, Inc 16,675 594 Philweb Corp. 2,051,840 474,454 Phoenix Petroleum Philippines, Inc. 986,570 125,006 RFM Corp. 5,607,300 713,509 Rizal Commercial Banking Corp. 1,553,395 1,689,662 Robinsons Land Corp. 9,483,550 4,974,807 San Miguel Corp. 1,548,380 2,723,799 San Miguel Pure Foods Co., Inc. 3,980 22,360 Security Bank Corp. 1,190,682 3,832,924 Semirara Mining Corp. 339,350 2,166,568 Shang Properties, Inc. 174,286 12,331 SM Investments Corp. 711,787 14,100,579 SM Prime Holdings, Inc. 21,088,990 9,341,895 Top Frontier Investment Holdings, Inc. 153,057 136,373 Trans-Asia Oil & Energy Development 9,851,000 535,685 Union Bank Of Philippines 841,410 2,437,212 Universal Robina Corp. 2,988,800 8,821,839 Vista Land & Lifescapes, Inc. 23,139,700 2,954,166 ------------ TOTAL PHILIPPINES 188,172,356 ------------ POLAND -- (1.7%) Action SA 2,482 45,517 * Agora SA 189,633 709,546 * Alchemia SA 225,224 384,877 Amica Wronki SA 358 12,427 * AmRest Holdings SE 36,778 1,306,002 Apator SA 26,053 332,787 Asseco Poland SA 393,428 6,426,779 ATM SA 24,831 108,089 Bank Handlowy w Warszawie SA 153,460 5,898,145 * Bank Millennium SA 2,215,926 5,507,506 Bank Pekao SA 289,723 18,140,150 Bank Zachodni WBK SA 34,992 4,261,505 * Bioton SA 8,698,900 84,720 * Boryszew SA 12,258,766 2,065,148 # BRE Bank SA 64,960 10,728,404 Budimex SA 29,932 1,259,400 CCC SA 28,698 1,210,544 #* CD Projekt Red SA 445,188 2,239,286 * Ciech SA 214,351 2,077,016 * Cinema City International NV 33,245 356,327 * City Interactive SA 14,500 42,352 * Colian SA 52,481 47,279 ComArch SA 7,881 257,839 * Cyfrowy Polsat SA 256,875 1,868,748 Dom Development SA 9,946 154,994 * Eko Export SA 1,215 17,710 Elektrobudowa SA 2,716 140,238 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- POLAND -- (Continued) Emperia Holding SA 41,580 $ 922,592 Enea SA 325,473 1,531,569 Eurocash SA 229,585 3,526,731 Fabryki Mebli Forte SA 24,598 266,111 * Famur SA 86,073 149,413 * Farmacol SA 36,461 822,721 Firma Oponiarska Debica SA 10,995 340,703 Getin Holding SA 1,453,087 2,055,242 * Getin Noble Bank SA 2,644,524 2,333,264 Grupa Azoty SA 113,806 3,008,575 Grupa Kety SA 22,544 1,390,629 * Grupa Lotos SA 422,257 5,150,883 * Hawe SA 541,715 693,806 * Impexmetal SA 496,171 562,517 * ING Bank Slaski SA 111,239 4,078,487 * Integer.pl SA 612 61,335 * Inter Cars SA 1,625 103,835 # Jastrzebska Spolka Weglowa SA 125,430 2,708,034 #* Kernel Holding SA 207,969 2,797,561 KGHM Polska Miedz SA 584,275 23,588,359 * Koelner SA 14,359 53,632 Kopex SA 135,625 485,029 * KRUK SA 4,755 126,954 * LC Corp. SA 550,157 332,252 Lentex SA 19,311 46,760 LPP SA 1,221 3,574,601 # Lubelski Wegiel Bogdanka SA 146,122 5,399,788 * MCI Management SA 136,745 439,946 * Mercor SA 2,734 19,251 * Midas SA 277,850 69,317 * Mostostal Zabrze Holding SA 59,416 37,597 * Netia SA 1,207,401 1,998,345 Neuca SA 3,061 287,038 Orbis SA 64,672 886,862 Pelion SA 28,721 1,042,747 * Petrolinvest SA 557,528 27,166 * Pfleiderer Grajewo SA 60,652 566,668 PGE SA 3,286,757 19,199,339 * Polimex-Mostostal SA 2,510,058 162,588 * Polnord SA 54,137 155,290 * Polski Koncern Miesny Duda SA 373,841 102,817 # Polski Koncern Naftowy Orlen SA 1,468,118 20,711,488 Polskie Gornictwo Naftowe i Gazownictwo SA 3,609,436 6,638,579 # Powszechna Kasa Oszczednosci Bank Polski SA 2,002,636 26,528,810 Powszechny Zaklad Ubezpieczen SA 78,095 11,879,220 * PZ Cormay SA 66,507 162,917 * Rafako SA 190,586 401,023 * Rovese SA 1,093,626 783,936 * Stalexport Autostrady SA 250,600 186,380 Stalprodukt SA 4,961 348,937 * Sygnity SA 57,819 397,082 Synthos SA 1,760,245 2,981,146 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ------------ POLAND -- (Continued) Tauron Polska Energia SA 2,170,126 $ 3,540,066 Telekomunikacja Polska SA 2,649,427 8,580,534 * Trakcja SA 68,285 29,289 TVN SA 542,795 2,734,382 * Vistula Group SA 23,970 18,037 Warsaw Stock Exchange 82,511 1,194,901 Wawel SA 124 47,771 # Zaklady Chemiczne Police SA 17,834 157,292 ------------ TOTAL POLAND 244,111,479 ------------ RUSSIA -- (3.8%) * Etalon Group, Ltd. GDR 496,732 2,587,581 Eurasia Drilling Co., Ltd. GDR 338,444 14,323,185 # Federal Hydrogenerating Co. JSC ADR 4,540,056 7,662,234 Gazprom OAO Sponsored ADR 19,360,421 180,969,619 Globaltrans Investment P.L.C. GDR 212,739 3,238,050 * Integra Group Holdings GDR 5,127 76,911 # Lukoil OAO Sponsored ADR 1,464,268 95,900,562 Magnitogorsk Iron & Steel Works GDR 449,466 1,452,477 Mail.ru Group, Ltd. GDR 140,164 5,168,028 #* Mechel Sponsored ADR 993,984 3,140,989 MMC Norilsk Nickel OJSC ADR 972,667 14,692,794 Novolipetsk Steel OJSC GDR 346,977 5,912,058 Novorossiysk Commercial Sea Port PJSC GDR 147,582 1,217,767 O'Key Group SA GDR 64,981 768,523 Phosagro OAO GDR 66,966 692,616 * PIK Group GDR 482,752 972,111 Rosneft OAO GDR 3,217,165 25,382,650 Rostelecom OJSC Sponsored ADR 130,501 2,836,098 Sberbank of Russia Sponsored ADR 5,532,517 70,552,743 Severstal OAO GDR 987,436 8,601,325 Tatneft OAO Sponsored ADR 739,208 30,365,137 TMK OAO GDR 120,705 1,558,542 Uralkali OJSC GDR 849,370 22,664,643 # VimpelCom, Ltd. Sponsored ADR 1,245,506 17,922,831 VTB Bank OJSC GDR(46630Q202) 9,793 27,215 VTB Bank OJSC GDR(B1W7FX909) 5,542,044 15,355,303 * X5 Retail Group NV GDR 374,433 6,086,644 ------------ TOTAL RUSSIA 540,128,636 ------------ SOUTH AFRICA -- (6.7%) Adcock Ingram Holdings, Ltd. 649,823 4,662,332 Adcorp Holdings, Ltd. 199,235 687,442 Advtech, Ltd. 957,741 630,786 Aeci, Ltd. 740,900 9,029,957 Afgri, Ltd. 1,156,840 761,384 # African Bank Investments, Ltd. 2,703,836 4,567,835 # African Oxygen, Ltd. 434,689 935,427 African Rainbow Minerals, Ltd. 552,203 10,572,374 Allied Electronics Corp., Ltd. 118,970 289,515 #* Anglo American Platinum, Ltd. 228,616 9,241,848 # AngloGold Ashanti, Ltd. 6,997 105,756 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- SOUTH AFRICA -- (Continued) AngloGold Ashanti, Ltd. Sponsored ADR 898,176 $13,562,458 * ArcelorMittal South Africa, Ltd. 630,770 2,485,142 Argent Industrial, Ltd. 146,462 79,569 # Aspen Pharmacare Holdings, Ltd. 784,256 21,817,695 Assore, Ltd. 91,812 3,749,705 # Astral Foods, Ltd. 198,761 1,998,129 * Aveng, Ltd. 2,560,068 7,517,407 AVI, Ltd. 1,531,116 8,994,233 # Barclays Africa Group, Ltd. 993,702 15,347,921 Barloworld, Ltd. 1,333,899 11,949,291 Basil Read Holdings, Ltd. 143,266 136,270 Bell Equipment, Ltd. 121,325 290,565 Bidvest Group, Ltd. 989,215 26,357,180 Blue Label Telecoms, Ltd. 1,242,208 1,166,915 * Brait SE 718,715 3,503,705 Business Connexion Group, Ltd. 425,980 238,314 # Capitec Bank Holdings, Ltd. 199,826 4,256,980 # Cashbuild, Ltd. 114,060 1,776,174 Caxton and CTP Publishers and Printers, Ltd. 364,067 685,568 City Lodge Hotels, Ltd. 141,119 1,857,417 Clicks Group, Ltd. 1,303,548 8,130,155 Clover Industries, Ltd. 41,048 67,206 * Consolidated Infrastructure Group, Ltd. 34,621 77,285 Coronation Fund Managers, Ltd. 871,962 7,111,583 Datacentrix Holdings, Ltd. 127,775 59,917 DataTec, Ltd. 866,305 4,946,563 Delta EMD, Ltd. 28,740 17,848 Discovery, Ltd. 917,375 7,752,364 Distell Group, Ltd. 96,572 1,292,874 * Distribution and Warehousing Network, Ltd. 162,578 154,536 # DRDGOLD, Ltd. 1,995,157 985,476 DRDGOLD, Ltd. Sponsored ADR 4,569 22,525 ElementOne, Ltd. 90,000 79,589 EOH Holdings, Ltd. 435,854 3,528,964 Eqstra Holdings, Ltd. 493,443 407,572 * Evraz Highveld Steel and Vanadium, Ltd. 35,483 57,828 # Exxaro Resources, Ltd. 577,326 8,841,419 Famous Brands, Ltd. 175,295 1,744,771 FirstRand, Ltd. 9,125,832 32,761,624 Foschini Group, Ltd. (The) 775,253 8,930,987 * Gijima Group, Ltd. 16,088 1,461 Gold Fields, Ltd. 64,532 298,745 # Gold Fields, Ltd. Sponsored ADR 2,840,008 13,064,037 Grindrod, Ltd. 2,486,907 5,981,608 Group Five, Ltd. 607,645 2,731,346 Growthpoint Properties, Ltd. 1,477,329 3,756,678 Harmony Gold Mining Co., Ltd. 249,393 860,553 Harmony Gold Mining Co., Ltd. Sponsored ADR 1,412,386 4,802,112 Holdsport, Ltd. 34,688 169,855 Hudaco Industries, Ltd. 180,207 1,855,372 * Hulamin, Ltd. 346,252 195,371 Iliad Africa, Ltd. 329,671 166,513 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- SOUTH AFRICA -- (Continued) Illovo Sugar, Ltd. 1,217,611 $ 3,820,746 Impala Platinum Holdings, Ltd. 1,812,700 22,018,274 # Imperial Holdings, Ltd. 972,241 20,664,193 Investec, Ltd. 1,137,152 8,059,677 # JD Group, Ltd. 752,496 2,310,027 JSE, Ltd. 445,018 3,906,160 Kagiso Media, Ltd. 43,129 118,664 KAP Industrial Holdings, Ltd. 308,543 116,220 # Kumba Iron Ore, Ltd. 109,390 4,574,715 Lewis Group, Ltd. 574,980 4,015,982 Liberty Holdings, Ltd. 581,318 7,187,067 # Life Healthcare Group Holdings, Ltd. 2,708,958 11,049,295 Massmart Holdings, Ltd. 280,045 4,489,852 Mediclinic International, Ltd. 1,006,361 7,583,863 * Merafe Resources, Ltd. 4,218,724 341,246 Metair Investments, Ltd. 768,276 2,983,307 Metrofile Holdings, Ltd. 877 435 MMI Holdings, Ltd. 5,268,984 12,917,353 Mondi, Ltd. 536,573 9,590,853 Mpact, Ltd. 452,759 1,231,599 # Mr Price Group, Ltd. 691,450 10,882,596 MTN Group, Ltd. 3,230,167 64,206,532 * Murray & Roberts Holdings, Ltd. 2,487,245 7,572,477 * Mvelaserve, Ltd. 168,447 154,616 Nampak, Ltd. 3,364,169 11,121,733 Naspers, Ltd. Class N 631,382 59,099,733 # Nedbank Group, Ltd. 1,008,610 21,929,020 Netcare, Ltd. 3,741,613 9,284,588 * Northam Platinum, Ltd. 1,358,136 5,578,943 Nu-World Holdings, Ltd. 23,372 38,199 Oceana Group, Ltd. 100,930 844,330 Octodec Investments, Ltd. 5,586 12,079 Omnia Holdings, Ltd. 414,368 8,551,187 * Palabora Mining Co., Ltd. 110,131 1,269,751 Peregrine Holdings, Ltd. 461,210 632,052 Petmin, Ltd. 145,238 32,021 # Pick n Pay Stores, Ltd. 859,851 4,063,708 Pinnacle Technology Holdings, Ltd. 875,378 2,138,366 Pioneer Foods, Ltd. 341,126 2,889,938 PPC, Ltd. 1,930,512 6,098,597 PSG Group, Ltd. 574,887 4,727,184 Raubex Group, Ltd. 242,013 571,810 * RCL Foods, Ltd. 144,968 246,022 Redefine International P.L.C. 76,069 60,469 Resilient Property Income Fund, Ltd. 757,638 4,146,483 Reunert, Ltd. 828,996 5,809,473 * Royal Bafokeng Platinum, Ltd. 59,707 365,418 Sanlam, Ltd. 7,258,066 38,943,664 Santam, Ltd. 116,936 2,219,590 * Sappi, Ltd. 3,162,061 9,319,194 * Sappi, Ltd. Sponsored ADR 399,244 1,125,868 Sasol, Ltd. 765,727 39,126,959 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ------------ SOUTH AFRICA -- (Continued) # Sasol, Ltd. Sponsored ADR 869,022 $ 44,337,502 * Sentula Mining, Ltd. 573,036 20,059 # Shoprite Holdings, Ltd. 1,104,549 20,227,169 Sibanye Gold, Ltd. 64,532 91,069 Sibanye Gold, Ltd. Sponsored ADR 710,002 3,990,211 Spar Group, Ltd. (The) 527,010 6,743,907 Spur Corp., Ltd. 374,301 1,193,188 # Standard Bank Group, Ltd. 3,305,953 42,058,657 * Stefanutti Stocks Holdings, Ltd. 160,398 163,357 #* Steinhoff International Holdings, Ltd. 5,304,067 20,475,379 Sun International, Ltd. 408,581 4,143,421 * Super Group, Ltd. 2,097,304 5,144,191 #* Telkom SA SOC, Ltd. 1,006,094 2,625,088 * Telkom SA SOC, Ltd. Sponsored ADR 24,334 255,629 Tiger Brands, Ltd. 477,646 14,012,674 * Times Media Group, Ltd. 74,593 160,415 Tongaat Hulett, Ltd. 543,878 6,851,334 Trencor, Ltd. 534,087 3,799,611 # Truworths International, Ltd. 1,276,756 12,201,548 Tsogo Sun Holdings, Ltd. 666,654 1,869,471 Value Group, Ltd. 95,008 64,683 * Village Main Reef, Ltd. 80,844 3,705 # Vodacom Group, Ltd. 515,445 5,912,389 * Wesizwe 19,767 1,576 Wilson Bayly Holmes-Ovcon, Ltd. 380,924 6,669,637 # Woolworths Holdings, Ltd. 1,334,638 10,038,233 Zeder Investments, Ltd. 382,396 164,920 ------------ TOTAL SOUTH AFRICA 953,371,182 ------------ SOUTH KOREA -- (13.6%) #* 3S Korea Co., Ltd. 152,484 815,098 Able C&C Co., Ltd. 2,970 87,422 * Actoz Soft Co., Ltd. 16,187 514,616 #* Advanced Nano Products Co., Ltd. 17,791 323,511 #* Advanced Process Systems Corp. 64,345 656,482 # Aekyung Petrochemical Co., Ltd. 5,521 309,825 # AfreecaTV Co., Ltd. 28,499 272,182 # Agabang&Company 120,783 633,642 # Ahnlab, Inc. 21,773 1,118,627 AK Holdings, Inc. 10,775 407,728 #* Aminologics Co., Ltd. 190,514 292,327 # Amorepacific Corp. 7,202 5,910,096 AMOREPACIFIC Group 10,804 3,812,555 # Anapass, Inc. 34,785 416,602 # Asia Cement Co., Ltd. 11,741 1,073,653 # Asia Paper Manufacturing Co., Ltd. 24,510 495,284 * Asiana Airlines, Inc. 488,540 2,316,104 # AtlasBX Co., Ltd. 33,431 1,178,094 * AUK Corp. 168,260 389,132 # Autech Corp. 45,140 281,057 #* Avaco Co., Ltd. 40,816 150,273 # Baiksan Co., Ltd. 50,980 283,008 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- SOUTH KOREA -- (Continued) #* Basic House Co., Ltd. (The) 33,820 $ 579,270 #* BH Co., Ltd. 39,504 471,134 # BHI Co., Ltd. 15,468 263,435 #* BI EMT Co., Ltd. 26,767 114,553 # Binggrae Co., Ltd. 18,616 1,568,575 # Bioland, Ltd. 20,067 227,652 # Biospace Co., Ltd. 33,151 253,320 Bookook Securities Co., Ltd. 5,240 69,767 #* Boryung Medience Co., Ltd. 18,584 131,603 # Boryung Pharmaceutical Co., Ltd. 19,770 705,794 #* Bosung Power Technology Co., Ltd. 115,748 195,138 BS Financial Group, Inc. 797,460 12,803,054 Bukwang Pharmaceutical Co., Ltd. 55,458 755,340 Busan City Gas Co., Ltd. 32,330 883,315 BYC Co., Ltd. 190 33,822 # Byucksan Corp. 91,420 223,105 #* CammSys Corp. 166,050 426,706 # Capro Corp. 124,400 909,967 #* Celltrion Pharm, Inc. 55,013 639,932 # Celltrion, Inc. 125,946 5,476,943 * Chabio & Diostech Co., Ltd. 107,511 1,043,411 #* Charm Engineering Co., Ltd. 77,090 171,526 Cheil Industries, Inc. 169,344 14,358,701 * Cheil Worldwide, Inc. 203,210 5,006,837 # Chemtronics Co., Ltd. 23,491 537,064 #* Chin Hung International, Inc. 165,478 254,886 * China Great Star International, Ltd. 272,021 474,762 #* China Ocean Resources Co., Ltd. 383,330 1,561,457 #* Choa Pharmaceutical Co. 82,345 265,474 # Chokwang Paint, Ltd. 24,620 171,313 # Chong Kun Dang Pharm Corp. 39,384 2,959,137 # Choong Ang Vaccine Laboratory 5,456 65,114 Chosun Refractories Co., Ltd. 2,127 157,728 # CJ CGV Co., Ltd. 35,185 1,654,747 # CJ CheilJedang Corp. 30,386 7,374,433 CJ Corp. 62,221 6,507,660 * CJ E&M Corp. 89,805 3,105,012 #* CJ Korea Express Co., Ltd. 32,193 2,798,432 CJ O Shopping Co., Ltd. 7,821 2,610,002 #* CJ Seafood Corp. 46,990 112,676 # CKD Bio Corp. 21,490 328,964 #* CNK International Co., Ltd. 137,923 681,864 #* Com2uSCorp 23,905 506,300 # Cosmax, Inc. 30,180 1,481,799 #* CosmoAM&T Co., Ltd. 18,360 91,876 #* Cosmochemical Co., Ltd. 51,850 471,418 Coway Co., Ltd. 119,900 6,862,602 # Credu Corp. 7,828 356,981 Crown Confectionery Co., Ltd. 2,637 601,883 #* CrucialTec Co., Ltd. 65,421 816,581 #* CTC BIO, Inc. 37,381 755,570 #* D.I Corp. 97,080 917,199 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- SOUTH KOREA -- (Continued) # D.ID Corp. 42,436 $ 175,794 Dae Dong Industrial Co., Ltd. 61,490 353,466 Dae Han Flour Mills Co., Ltd. 4,841 652,089 # Dae Hyun Co., Ltd. 4,970 11,264 Dae Won Kang Up Co., Ltd. 106,380 752,626 * Dae Young Packaging Co., Ltd. 350,890 281,882 # Dae-Il Corp. 44,560 204,428 #* Daea TI Co., Ltd. 194,036 303,306 # Daechang Co., Ltd. 301,520 300,624 Daeduck Electronics Co. 168,900 1,487,332 Daeduck GDS Co., Ltd. 114,600 2,105,512 Daegu Department Store 36,860 569,995 #* Daehan New Pharm Co., Ltd. 28,535 181,858 # Daehan Steel Co., Ltd. 54,520 338,373 # Daehwa Pharmaceutical Co., Ltd. 37,069 210,735 Daekyo Co., Ltd. 76,070 481,075 #* Daekyung Machinery & Engineering Co., Ltd. 184,410 306,429 Daelim Industrial Co., Ltd. 127,941 11,875,891 Daelim Trading Co., Ltd. 3,405 12,917 # Daesang Corp. 84,727 2,766,876 # Daesang Holdings Co., Ltd. 69,320 488,856 Daesung Holdings Co., Ltd. 19,560 158,812 * Daesung Industrial Co., Ltd. 2,450 9,938 # Daewon Pharmaceutical Co., Ltd. 48,334 478,396 # Daewon San Up Co., Ltd. 12,033 96,875 #* Daewoo Engineering & Construction Co., Ltd. 381,325 3,089,700 # Daewoo International Corp. 132,397 4,876,559 Daewoo Securities Co., Ltd. 765,617 7,145,647 # Daewoo Shipbuilding & Marine Engineering Co., Ltd. 429,780 13,533,536 Daewoong Co., Ltd. 6,323 222,284 Daewoong Pharmaceutical Co., Ltd. 20,111 1,581,910 * Dahaam E-Tec Co., Ltd. 1,420 24,096 Daishin Securities Co., Ltd. 210,620 1,757,506 #* Danal Co., Ltd. 59,342 549,724 Daou Data Corp. 73,862 305,473 # Daou Technology, Inc. 149,630 2,050,572 #* Dasan Networks, Inc. 61,214 366,263 # Daum Communications Corp. 33,259 2,775,149 Dawonsys Co., Ltd. 2,796 21,694 # Dayou Automotive Seat Technology Co., Ltd. 230,815 245,544 # DCM Corp. 16,370 179,884 #* Deutsch Motors, Inc. 28,027 113,128 DGB Financial Group, Inc. 709,657 11,386,210 Digital Chosun Co., Ltd. 20,134 35,852 # Digital Power Communications Co., Ltd. 30,360 98,904 #* Digitech Systems Co., Ltd. 69,781 403,595 #* DIO Corp. 44,232 343,090 Dong Ah Tire & Rubber Co., Ltd. 14,820 247,198 #* Dong Yang Gang Chul Co., Ltd. 132,560 264,212 Dong-A Socio Holdings Co., Ltd. 10,239 1,456,787 * Dong-A ST Co., Ltd. 3,546 415,533 # Dong-Ah Geological Engineering Co., Ltd. 30,030 247,549 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- SOUTH KOREA -- (Continued) Dong-Il Corp. 4,466 $ 216,184 # Dongaone Co., Ltd. 119,520 371,655 Dongbang Agro Co. 4,840 29,226 # Dongbang Transport Logistics Co., Ltd. 78,710 190,508 Dongbu CNI Co., Ltd. 15,260 59,719 * Dongbu Corp. 35,650 112,069 * Dongbu HiTek Co., Ltd. 139,318 793,381 Dongbu Insurance Co., Ltd. 158,775 7,104,860 Dongbu Securities Co., Ltd. 113,561 377,471 #* Dongbu Steel Co., Ltd. 128,145 302,707 # Dongil Industries Co., Ltd. 4,838 240,242 # Dongjin Semichem Co., Ltd. 117,446 475,257 #* Dongkook Industrial Co., Ltd. 99,200 271,685 # DongKook Pharmaceutical Co., Ltd. 13,811 458,630 Dongkuk Industries Co., Ltd. 3,287 10,988 # Dongkuk Steel Mill Co., Ltd. 205,640 2,874,004 # DONGKUK STRUCTURES & CONSTRUCTION Co., Ltd. 132,251 513,970 # Dongsung Chemical Co., Ltd. 7,530 150,903 # Dongsung Holdings Co., Ltd. 79,760 391,570 # Dongsung Pharmaceutical Co., Ltd. 76,830 310,442 # Dongwha Pharm Co., Ltd. 93,665 491,206 Dongwon F&B Co., Ltd. 6,337 647,798 Dongwon Industries Co., Ltd. 4,216 1,128,422 * Dongwon Systems Corp. 15,467 102,129 Dongyang E&P, Inc. 7,721 130,846 Dongyang Mechatronics Corp. 119,529 1,361,235 Doosan Corp. 33,575 4,497,893 #* Doosan Engine Co., Ltd. 91,490 813,387 * Doosan Engineering & Construction Co., Ltd. 149,506 326,749 # Doosan Heavy Industries & Construction Co., Ltd. 211,881 8,647,594 #* Doosan Infracore Co., Ltd. 378,520 5,417,845 # Dragonfly GF Co., Ltd. 25,290 214,060 DRB Holding Co., Ltd. 25,061 183,467 DRB Industrial Co., Ltd. 25,089 208,568 #* Duksan Hi-Metal Co., Ltd. 38,006 750,153 # DuzonBIzon Co., Ltd. 68,950 646,848 # e-LITECOM Co., Ltd. 36,060 647,587 E-Mart Co., Ltd. 70,199 16,798,344 # E1 Corp. 11,224 804,917 #* Eagon Industries Co., Ltd. 14,100 171,351 # Easy Bio, Inc. 172,451 754,261 * Ecopro Co., Ltd. 57,703 498,476 # EG Corp. 26,132 512,415 #* ELK Corp. 49,192 295,305 EMKOREA Co., Ltd. 50,741 461,578 # ENF Technology Co., Ltd. 40,576 375,522 # Eo Technics Co., Ltd. 17,257 702,170 # Estechpharma Co., Ltd. 26,276 294,304 #* ESTsoft Corp. 10,003 194,508 Eugene Corp. 200,134 545,499 * Eugene Investment & Securities Co., Ltd. 234,675 484,562 Eugene Technology Co., Ltd. 44,128 676,841 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- SOUTH KOREA -- (Continued) # Fila Korea, Ltd. 39,090 $ 2,646,965 # Fine Technix Co., Ltd. 22,817 46,025 #* Finetex EnE, Inc. 100,221 255,398 # Firstec Co., Ltd. 166,326 290,513 #* Flexcom, Inc. 33,588 427,465 * Foosung Co., Ltd. 170,523 644,096 # Fursys, Inc. 10,916 321,583 #* GameHi Co., Ltd. 59,800 408,015 #* Gamevil, Inc. 17,836 852,548 # Gaon Cable Co., Ltd. 12,422 228,935 #* GemVax & Kael Co., Ltd. 84,754 1,536,910 #* Genexine Co., Ltd. 2,719 61,799 #* Genic Co., Ltd. 14,364 337,326 GIIR, Inc. 16,730 126,055 Global & Yuasa Battery Co., Ltd. 24,999 1,172,943 #* GNCO Co., Ltd. 213,311 321,372 * Golden Bridge Investment & Securities Co., Ltd. 22,743 18,203 Golfzon Co., Ltd. 39,636 770,056 # Grand Korea Leisure Co., Ltd. 87,970 3,204,281 * Green Cross Cell Corp. 13,659 366,761 # Green Cross Corp. 18,105 2,235,174 Green Cross Holdings Corp. 99,660 1,241,651 * Green Non-Life Insurance Co., Ltd. 14,915 -- # GS Engineering & Construction Corp. 199,978 6,751,770 # GS Global Corp. 58,531 533,545 # GS Holdings 241,284 13,286,823 GS Home Shopping, Inc. 6,605 1,522,363 Gwangju Shinsegae Co., Ltd. 2,914 720,813 # Haesung Industrial Co., Ltd. 10,792 401,258 # Halla Engineering & Construction Corp. 86,024 431,791 # Halla Visteon Climate Control Corp. 103,750 3,879,485 Han Kuk Carbon Co., Ltd. 138,400 1,161,791 Hana Financial Group, Inc. 1,071,129 41,187,342 #* Hana Micron, Inc. 11,690 72,629 #* Hanall Biopharma Co., Ltd. 92,470 542,418 # Handok Pharmaceuticals Co., Ltd. 25,400 414,481 # Handsome Co., Ltd. 73,304 2,098,750 Hanil Cement Co., Ltd. 18,961 1,491,112 Hanil E-Wha Co., Ltd. 101,330 2,094,042 #* Hanjin Heavy Industries & Construction Co., Ltd. 251,555 2,916,037 Hanjin Heavy Industries & Construction Holdings Co., Ltd. 59,995 517,323 * Hanjin Kal Corp. 60,075 795,711 #* Hanjin P&C Co., Ltd. 106,545 82,866 #* Hanjin Shipping Co., Ltd. 489,234 3,564,516 #* Hanjin Shipping Holdings Co., Ltd. 56,654 284,442 # Hanjin Transportation Co., Ltd. 45,280 782,732 Hankook Shell Oil Co., Ltd. 2,458 1,218,239 Hankook Tire Co., Ltd. 141,074 8,276,010 Hankook Tire Worldwide Co., Ltd. 32,246 794,713 * Hankuk Glass Industries, Inc. 3,770 58,095 Hankuk Paper Manufacturing Co., Ltd. 15,900 355,086 * Hanmi Pharm Co., Ltd. 22,221 2,696,387 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- SOUTH KOREA -- (Continued) #* Hanmi Science Co., Ltd. 73,198 $ 1,101,835 # Hanmi Semiconductor Co., Ltd. 48,770 576,851 Hansae Co., Ltd. 16,029 255,802 # Hansae Yes24 Holdings Co., Ltd. 63,377 286,833 # Hanshin Construction 1,850 19,510 # Hansol Chemical Co., Ltd. 47,490 1,221,942 # Hansol CSN 176,540 529,167 #* Hansol HomeDeco Co., Ltd. 299,422 490,516 Hansol Paper Co. 208,780 2,418,662 #* Hansol Technics Co., Ltd. 72,264 1,291,500 # Hanssem Co., Ltd. 31,400 1,272,225 # Hanwha Chemical Corp. 402,092 8,825,326 Hanwha Corp. 206,692 7,823,419 * Hanwha General Insurance Co., Ltd. 83,074 328,619 * Hanwha Investment & Securities Co., Ltd. 272,391 921,318 Hanwha Life Insurance Co., Ltd. 669,550 4,477,060 Hanwha Timeworld Co., Ltd. 8,040 246,971 Hanyang Securities Co., Ltd. 18,020 105,650 * Harim Holdings Co., Ltd. 37,542 108,947 # Heung-A Shipping Co., Ltd. 444,993 666,748 * Heungkuk Fire & Marine Insurance Co., Ltd. 24,279 103,412 # High Tech Pharm Co., Ltd. 22,952 313,757 Hite Jinro Co., Ltd. 130,165 3,195,053 # Hitejinro Holdings Co., Ltd. 34,734 378,080 HMC Investment Securities Co., Ltd. 81,390 817,440 #* HNK Machine Tool Co., Ltd. 6,838 84,395 # Hotel Shilla Co., Ltd. 94,889 6,129,677 HS R&A Co., Ltd. 11,450 201,167 # Huchems Fine Chemical Corp. 77,115 1,737,428 Humax Co., Ltd. 37,108 438,993 #* Hunus, Inc. 46,904 125,503 Huons Co., Ltd. 24,280 638,665 Husteel Co., Ltd. 18,620 340,232 # Huvitz Co., Ltd. 7,273 127,001 Hwa Shin Co., Ltd. 80,520 970,966 Hwacheon Machine Tool Co., Ltd. 4,514 219,440 Hy-Lok Corp. 38,506 968,693 Hyosung Corp. 140,088 9,444,113 #* Hyundai BNG Steel Co., Ltd. 48,160 629,606 # Hyundai Corp. 53,610 1,676,054 Hyundai Department Store Co., Ltd. 57,099 9,092,040 # Hyundai Development Co. 328,729 7,307,086 * Hyundai Elevator Co., Ltd. 23,661 1,340,982 Hyundai Engineering & Construction Co., Ltd. 188,389 10,807,901 # Hyundai Engineering Plastics Co., Ltd. 76,660 491,214 # Hyundai Glovis Co., Ltd. 20,093 4,454,862 # Hyundai Greenfood Co., Ltd. 193,770 3,086,396 Hyundai Heavy Industries Co., Ltd. 89,500 21,372,342 Hyundai Home Shopping Network Corp. 17,726 2,806,398 Hyundai Hy Communications & Networks Co., Ltd. 112,160 502,957 Hyundai Hysco Co., Ltd. 142,840 5,654,672 Hyundai Marine & Fire Insurance Co., Ltd. 235,490 6,728,590 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- SOUTH KOREA -- (Continued) #* Hyundai Merchant Marine Co., Ltd. 205,288 $ 2,656,264 # Hyundai Mipo Dockyard 25,099 3,994,773 Hyundai Mobis 136,261 38,436,499 Hyundai Motor Co. 344,450 82,063,088 Hyundai Securities Co., Ltd. 622,073 3,950,463 # Hyundai Steel Co. 235,714 19,408,242 Hyundai Wia Corp. 44,990 7,745,707 # Hyunjin Materials Co., Ltd. 70,175 463,393 #* ICD Co., Ltd. 49,851 532,902 #* IHQ, Inc. 100,930 223,341 # Il Dong Pharmaceutical Co., Ltd. 45,200 503,749 Iljin Display Co., Ltd. 58,790 828,956 # Iljin Electric Co., Ltd. 82,914 479,443 #* Iljin Materials Co., Ltd. 60,430 694,499 Ilshin Spinning Co., Ltd. 5,602 583,818 Ilsung Pharmaceuticals Co., Ltd. 3,008 221,333 Ilyang Pharmaceutical Co., Ltd. 34,542 920,412 # IM Co., Ltd. 62,580 271,022 # iMarketKorea, Inc. 56,730 1,349,615 # iMBC Co., Ltd. 34,087 138,051 Industrial Bank of Korea 644,690 7,447,244 #* Infinitt Healthcare Co., Ltd. 39,177 309,019 #* Infopia Co., Ltd. 36,965 518,693 #* Infraware, Inc. 50,738 583,691 #* InkTec Co., Ltd. 25,285 732,650 # Innochips Technology, Inc. 13,257 186,020 # InnoWireless, Inc. 22,924 245,001 #* Innox Corp. 32,105 771,453 Intelligent Digital Integrated Securities Co., Ltd. 2,838 49,551 #* Interflex Co., Ltd. 30,322 904,379 Intergis Co., Ltd. 6,800 45,603 # Interojo Co., Ltd. 11,512 184,681 # Interpark Corp. 141,004 1,341,621 INTOPS Co., Ltd. 32,945 701,391 Inzi Controls Co., Ltd. 44,490 221,516 INZI Display Co., Ltd. 124,958 225,366 #* IS Dongseo Co., Ltd. 49,570 768,187 # ISU Chemical Co., Ltd. 55,700 866,469 # IsuPetasys Co., Ltd. 119,600 793,415 Jahwa Electronics Co., Ltd. 52,750 1,046,328 * JB Financial Group Co., Ltd. 295,127 2,017,089 # JCEntertainment Corp. 22,367 382,216 # Jeil Pharmaceutical Co. 32,320 392,784 Jeil Savings Bank 3,200 90 * Jeju Semiconductor Corp. 3,667 17,101 # Jinsung T.E.C. 44,792 252,978 JNK Heaters Co., Ltd. 4,807 33,084 #* Joymax Co., Ltd. 15,619 586,639 #* Jusung Engineering Co., Ltd. 85,357 455,735 #* JVM Co., Ltd. 15,006 683,908 # JW Holdings Co., Ltd. 147,622 372,596 # JW Pharmaceutical Corp. 43,466 630,006 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- SOUTH KOREA -- (Continued) #* JYP Entertainment Corp. 69,357 $ 309,368 Kangwon Land, Inc. 166,590 4,578,032 KB Financial Group, Inc. 527,260 20,765,327 KB Financial Group, Inc. ADR 464,299 18,019,444 # KC Cottrell Co., Ltd. 23,085 244,406 # KC Green Holdings Co., Ltd. 63,780 627,889 # KC Tech Co., Ltd. 107,916 494,459 KCC Corp. 19,339 7,755,375 # KCC Engineering & Construction Co., Ltd. 228 4,664 * KCO Energy, Inc. 70 -- # KCP Co., Ltd. 24,134 272,598 #* Keangnam Enterprises, Ltd. 40,855 130,791 #* KEC Corp. 359,677 337,910 KEPCO Engineering & Construction Co., Inc. 22,547 1,196,636 # KEPCO Plant Service & Engineering Co., Ltd. 29,820 1,511,530 # Keyang Electric Machinery Co., Ltd. 90,460 278,555 # KG Chemical Corp. 25,800 425,734 # Kginicis Co., Ltd. 39,046 798,028 # KGMobilians Co., Ltd. 43,631 530,317 #* KH Vatec Co., Ltd. 44,374 1,130,047 # Kia Motors Corp. 584,259 33,946,142 KISCO Corp. 18,248 488,763 KISCO Holdings Co., Ltd. 2,565 100,128 Kishin Corp. 42,990 324,361 KISWIRE, Ltd. 25,332 882,727 KIWOOM Securities Co., Ltd. 46,253 2,423,210 * KMH Co., Ltd. 33,601 314,793 #* KMW Co., Ltd. 24,232 454,289 #* Koentec Co., Ltd. 192,793 374,124 # Koh Young Technology, Inc. 27,459 818,100 # Kolao Holdings 49,816 1,458,023 Kolon Corp. 34,895 653,670 * Kolon Global Corp. 167,680 610,855 # Kolon Industries, Inc. 94,432 5,273,357 # Kolon Life Science, Inc. 10,358 755,210 #* Komipharm International Co., Ltd. 97,924 662,740 # KONA I Co., Ltd. 25,411 788,799 # Kook Je Electric Korea Co., Ltd. 17,745 283,157 # Kook Soon Dang Brewery Co., Ltd. 20,744 122,597 # Korea Aerospace Industries, Ltd. 71,680 1,891,605 Korea Airport Service Co., Ltd. 4,470 91,381 # Korea Cast Iron Pipe Industries Co., Ltd. 3,750 13,577 #* Korea Circuit Co., Ltd. 54,405 690,482 Korea District Heating Corp. 12,638 1,182,244 * Korea Electric Power Corp. 161,350 4,309,010 #* Korea Electric Power Corp. Sponsored ADR 436,547 5,779,882 Korea Electric Terminal Co., Ltd. 27,780 1,124,684 # Korea Export Packaging Industrial Co., Ltd. 5,150 119,434 #* Korea Flange Co., Ltd. 16,100 205,164 Korea Gas Corp. 84,949 5,107,910 #* Korea Info & Comm 36,218 161,511 Korea Investment Holdings Co., Ltd. 188,490 7,353,656 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- SOUTH KOREA -- (Continued) # Korea Kolmar Co., Ltd. 37,476 $ 808,580 # Korea Kolmar Holdings Co., Ltd. 31,784 310,065 * Korea Petrochemical Ind Co., Ltd. 13,839 969,084 * Korea Real Estate Investment Trust Co. 221,097 353,232 # Korea United Pharm, Inc. 46,920 472,543 Korea Zinc Co., Ltd. 23,914 6,932,422 * Korean Air Lines Co., Ltd. 124,319 3,965,227 Korean Reinsurance Co. 407,659 4,568,886 # Kortek Corp. 39,866 574,755 # KPF 40,895 269,300 KPX Chemical Co., Ltd. 6,559 428,835 #* KSCB Co., Ltd. 16,107 73,734 KT Corp. 9,140 302,098 KT Corp. Sponsored ADR 140,282 2,325,876 * KT Hitel Co., Ltd. 28,633 225,108 KT Skylife Co., Ltd. 54,380 1,439,669 # KT&G Corp. 218,578 15,958,988 * KTB Investment & Securities Co., Ltd. 250,200 561,343 Kukdo Chemical Co., Ltd. 17,824 849,143 # Kumho Electric Co., Ltd. 17,168 424,154 #* Kumho Industrial Co., Ltd. 23,097 227,072 * Kumho Investment Bank 608,760 375,374 # Kumho Petro chemical Co., Ltd. 38,059 3,725,696 #* Kumho Tire Co., Inc. 207,462 2,420,646 Kunsul Chemical Industrial Co., Ltd. 15,050 409,393 Kwang Dong Pharmaceutical Co., Ltd. 173,980 1,194,882 #* Kwang Myung Electric Engineering Co., Ltd. 213,320 471,841 #* Kyeryong Construction Industrial Co., Ltd. 16,700 137,909 Kyobo Securities Co. 93,840 403,579 # Kyung Dong Navien Co., Ltd. 28,390 485,969 # Kyung-In Synthetic Corp. 102,540 415,886 * Kyungbang, Ltd. 2,857 310,405 # Kyungchang Industrial Co., Ltd. 25,866 234,417 KyungDong City Gas Co., Ltd. 8,941 734,473 Kyungdong Pharm Co., Ltd. 26,631 317,514 # Kyungnam Energy Co., Ltd. 68,500 352,707 # L&F Co., Ltd. 26,811 270,129 #* LB Semicon, Inc. 171,662 345,170 LEENO Industrial, Inc. 32,813 658,760 LG Chem, Ltd. 101,850 28,730,048 LG Corp. 347,885 20,566,117 #* LG Display Co., Ltd. 452,050 10,581,057 #* LG Display Co., Ltd. ADR 698,317 8,170,309 # LG Electronics, Inc. 389,727 24,964,340 LG Fashion Corp. 88,642 2,715,115 LG Hausys, Ltd. 31,965 3,868,966 # LG Household & Health Care, Ltd. 12,853 6,681,378 #* LG Innotek Co., Ltd. 46,689 3,770,531 # LG International Corp. 155,779 4,371,318 #* LG Life Sciences, Ltd. 33,923 1,498,658 * LG Uplus Corp. 943,000 10,797,438 LIG Insurance Co., Ltd. 193,840 4,824,555 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- SOUTH KOREA -- (Continued) # Livart Furniture Co., Ltd. 18,920 $ 187,959 # Lock & Lock Co., Ltd. 69,930 1,821,138 #* Logistics Energy Korea Co., Ltd. 139,240 372,519 Lotte Chemical Corp. 58,209 11,926,992 # Lotte Chilsung Beverage Co., Ltd. 3,463 5,143,307 Lotte Confectionery Co., Ltd. 3,167 5,430,865 # Lotte Food Co., Ltd. 3,536 2,182,192 # LOTTE Himart Co., Ltd. 37,300 2,933,373 * Lotte Non-Life Insurance Co., Ltd. 110,290 312,378 Lotte Shopping Co., Ltd. 42,845 16,265,264 * Lotte Tour Development Co., Ltd. 16,780 99,822 LS Corp. 79,633 5,951,946 LS Industrial Systems Co., Ltd. 43,311 2,714,308 #* Lumens Co., Ltd. 114,372 1,026,277 Macquarie Korea Infrastructure Fund 1,193,679 7,424,486 #* Macrogen, Inc. 9,082 259,503 # Maeil Dairy Industry Co., Ltd. 31,906 1,315,938 Mando Corp. 63,887 8,612,805 #* Medifron DBT Co., Ltd. 81,261 319,114 #* Medipost Co., Ltd. 23,184 1,691,549 Medy-Tox, Inc. 11,133 1,834,653 MegaStudy Co., Ltd. 22,222 1,550,936 # Melfas, Inc. 68,236 687,533 Meritz Finance Group, Inc. 156,757 807,749 Meritz Fire & Marine Insurance Co., Ltd. 232,921 3,276,334 Meritz Securities Co., Ltd. 943,490 1,495,636 Mi Chang Oil Industrial Co., Ltd. 2,155 159,474 Mirae Asset Securities Co., Ltd. 127,891 4,313,245 #* Mirae Corp. 222,490 75,173 * Miwon Chemicals Co., Ltd. 1,200 38,416 Miwon Commercial Co., Ltd. 456 82,439 * Miwon Specialty Chemical Co., Ltd. 988 350,067 # MK Electron Co., Ltd. 78,648 349,259 # MNTech Co., Ltd. 92,206 668,153 # Modetour Network, Inc. 35,269 743,749 # Monalisa Co., Ltd. 28,400 70,904 Moorim P&P Co., Ltd. 124,710 732,816 #* Moorim Paper Co., Ltd. 61,100 137,967 Motonic Corp. 49,880 448,138 # Namhae Chemical Corp. 117,250 800,915 #* Namsun Aluminum Co., Ltd. 138,696 89,454 Namyang Dairy Products Co., Ltd. 1,115 909,524 # National Plastic Co. 83,760 414,007 # NCSoft Corp. 34,380 6,664,050 #* Neowiz Games Corp. 66,931 1,089,746 #* NEOWIZ HOLDINGS Corp. 29,940 315,906 * Neowiz Internet Corp. 16,726 136,132 # NEPES Corp. 68,922 661,694 # Nexen Corp. 21,396 1,508,074 # Nexen Tire Corp. 121,690 1,824,377 #* Nexolon Co., Ltd. 368,840 397,518 NH Investment & Securities Co., Ltd. 114,018 516,584 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ----------- SOUTH KOREA -- (Continued) NHN Corp. 38,421 $21,560,599 * NHN Entertainment Corp. 17,676 1,891,328 # NICE Holdings Co., Ltd. 42,610 520,658 NICE Information Service Co., Ltd. 4,970 14,356 # NK Co., Ltd. 86,300 301,001 # Nong Shim Holdings Co., Ltd. 8,935 641,643 # NongShim Co., Ltd. 14,384 3,483,177 Noroo Holdings Co., Ltd. 3,440 63,223 # OCI Co., Ltd. 55,493 10,042,527 # OCI Materials Co., Ltd. 32,495 1,017,170 #* OPTRON-TEC, Inc. 43,291 467,963 #* Orientbio, Inc. 265,298 151,496 # Orion Corp/Republic of South Korea 7,365 7,182,152 #* OSANGJAIEL Co., Ltd. 28,030 379,248 #* Osstem Implant Co., Ltd. 40,324 1,029,392 #* Osung LST Co., Ltd. 99,271 249,333 Ottogi Corp. 5,413 1,748,394 Paik Kwang Industrial Co., Ltd. 94,868 336,056 #* PaperCorea, Inc. 337,740 254,908 # Paradise Co., Ltd. 88,480 2,267,620 # Partron Co., Ltd. 106,351 1,712,566 #* Pharmicell Co., Ltd. 154,381 653,690 POSCO 28,232 8,428,406 # POSCO ADR 473,943 35,289,796 POSCO Chemtech Co., Ltd. 7,984 981,909 * POSCO Coated & Color Steel Co., Ltd. 6,940 91,651 # Posco ICT Co., Ltd. 117,449 906,068 # Posco M-Tech Co., Ltd. 75,778 505,407 #* Power Logics Co., Ltd. 97,233 470,735 #* PSK, Inc. 46,817 445,531 Pulmuone Holdings Co., Ltd. 6,402 316,476 Pyeong Hwa Automotive Co., Ltd. 54,743 1,268,274 #* Redrover Co., Ltd. 66,836 562,531 # RFsemi Technologies, Inc. 20,093 218,848 #* Rocket Electric Co., Ltd. 114,930 114,219 # S&T Corp. 8,318 147,286 # S&T Dynamics Co., Ltd. 124,116 1,660,869 S&T Holdings Co., Ltd. 28,657 534,269 S&T Motiv Co., Ltd. 44,540 1,257,934 #* S&T Motors Co., Ltd. 360,460 167,103 S-1 Corp. 45,985 2,742,355 # S-Energy Co., Ltd. 33,491 403,680 # S-MAC Co., Ltd. 52,092 661,118 # S-Oil Corp. 101,423 7,401,033 # Saeron Automotive Corp. 3,180 24,298 #* Sajo Industries Co., Ltd. 11,145 309,982 * Sajodaerim Corp. 1,190 11,048 Sam Young Electronics Co., Ltd. 52,430 466,710 # Sam Yung Trading Co., Ltd. 53,574 854,612 #* Sambu Construction Co., Ltd. 1,421 7,032 Samchully Co., Ltd. 11,480 1,418,748 # Samho Development Co., Ltd. 16,464 37,448 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ------------ SOUTH KOREA -- (Continued) # SAMHWA Paints Industrial Co., Ltd. 12,040 $ 104,754 #* Samick Musical Instruments Co., Ltd. 283,360 485,748 Samick THK Co., Ltd. 27,940 208,154 Samjin Pharmaceutical Co., Ltd. 51,035 649,478 # Samkwang Glass 14,864 743,416 # Samlip General Foods Co., Ltd. 12,050 564,516 Samsung C&T Corp. 478,605 28,399,441 Samsung Card Co., Ltd. 43,208 1,601,080 Samsung Climate Control Co., Ltd. 4,190 32,547 # Samsung Electro-Mechanics Co., Ltd. 134,720 10,334,221 Samsung Electronics Co., Ltd. 204,504 282,022,914 # Samsung Engineering Co., Ltd. 67,263 4,742,608 # Samsung Fine Chemicals Co., Ltd. 85,171 3,849,710 Samsung Fire & Marine Insurance Co., Ltd. 104,596 24,459,130 Samsung Heavy Industries Co., Ltd. 487,550 17,877,164 Samsung Life Insurance Co., Ltd. 131,568 12,954,799 Samsung SDI Co., Ltd. 158,177 26,366,714 Samsung Securities Co., Ltd. 224,721 9,961,900 Samsung Techwin Co., Ltd. 97,200 5,297,916 # Samwha Capacitor Co., Ltd. 11,760 72,628 #* Samyang Foods Co., Ltd. 16,340 375,710 Samyang Genex Co., Ltd. 1,871 151,797 # Samyang Holdings Corp. 20,446 1,708,147 Samyang Tongsang Co., Ltd. 720 17,526 # Samyoung Chemical Co., Ltd. 153,040 353,299 # Sangbo Corp. 50,896 623,568 #* Sapphire Technology Co., Ltd. 17,642 744,823 # Satrec Initiative Co., Ltd. 9,732 174,217 SAVEZONE I&C Corp. 54,000 238,482 # SBS Contents Hub Co., Ltd. 16,185 226,367 # SBS Media Holdings Co., Ltd. 205,410 894,669 #* SBW 311,730 226,441 Seah Besteel Corp. 71,170 1,860,391 SeAH Holdings Corp. 3,201 296,728 SeAH Steel Corp. 12,454 1,058,852 Sebang Co., Ltd. 48,230 868,136 #* Seegene, Inc. 17,845 972,755 # Sejong Industrial Co., Ltd. 43,430 680,740 Sempio Foods Co. 11,951 240,915 #* Seobu T&D 34,409 683,268 # Seohan Co., Ltd. 374,116 536,642 #* Seohee Construction Co., Ltd. 681,050 429,051 #* Seong An Co., Ltd. 150,840 100,995 # Seoul Semiconductor Co., Ltd. 33,394 1,389,519 Seowon Co., Ltd. 55,740 97,574 * Seshin Co., Ltd 2,000 -- #* Sewon Cellontech Co., Ltd. 126,664 351,599 # SEWOONMEDICAL Co., Ltd. 64,943 213,853 # SFA Engineering Corp. 20,996 893,784 #* SG Corp. 557,040 365,410 #* SH Energy & Chemical Co., Ltd. 365,590 305,038 Shin Poong Pharmaceutical Co., Ltd. 129,858 623,093 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- SOUTH KOREA -- (Continued) #* Shine Co., Ltd. 34,294 $ 316,613 Shinhan Financial Group Co., Ltd. 587,965 25,637,395 # Shinhan Financial Group Co., Ltd. ADR 387,122 16,777,867 #* Shinil Industrial Co., Ltd. 123,260 162,358 Shinsegae Co., Ltd. 39,834 10,028,349 Shinsegae Information & Communication Co., Ltd. 3,395 222,728 # Shinsegae International Co., Ltd. 9,444 803,786 #* Shinsung Solar Energy Co., Ltd. 279,163 312,772 * Shinsung Tongsang Co., Ltd. 296,190 306,635 * Shinwha Intertek Corp. 4,341 11,932 #* Shinwon Corp. 69,550 81,780 Shinyoung Securities Co., Ltd. 11,600 458,631 #* Signetics Corp. 163,974 391,956 # SIGONG TECH Co., Ltd. 58,961 189,006 # Silicon Works Co., Ltd. 50,785 1,147,627 # Silla Co., Ltd. 35,654 982,744 # Simm Tech Co., Ltd. 115,072 853,996 # SIMPAC, Inc. 73,570 437,398 Sindoh Co., Ltd. 8,629 568,937 # SJM Co., Ltd. 38,124 373,783 * SK Broadband Co., Ltd. 648,651 2,772,350 SK C&C Co., Ltd. 50,441 5,436,310 # SK Chemicals Co., Ltd. 73,565 3,596,382 #* SK Communications Co., Ltd. 84,467 422,689 SK Gas Co., Ltd. 19,136 1,350,516 SK Holdings Co., Ltd. 98,915 17,927,334 * SK Hynix, Inc. 715,371 21,526,151 SK Innovation Co., Ltd. 200,864 28,152,901 SK Networks Co., Ltd. 691,712 4,342,393 * SK Securities Co., Ltd. 1,325,240 1,003,346 SK Telecom Co., Ltd. 9,434 2,055,859 # SK Telecom Co., Ltd. ADR 170,500 4,173,840 # SKC Co., Ltd. 105,510 3,202,401 SL Corp. 68,520 954,296 #* SM Culture & Contents Co., Ltd. 113,333 309,360 #* SM Entertainment Co. 43,519 1,644,910 #* Solborn, Inc. 21,776 84,914 * Solco Biomedical Co., Ltd. 276,795 191,805 # Songwon Industrial Co., Ltd. 73,950 797,060 #* Sonokong Co., Ltd. 58,186 149,526 # Soosan Heavy Industries Co., Ltd. 11,350 14,217 Soulbrain Co., Ltd. 4,798 239,389 * Ssangyong Cement Industrial Co., Ltd. 104,807 584,052 Steel Flower Co., Ltd. 18,742 109,043 #* STS Semiconductor & Telecommunications 56,616 211,380 # STX Corp. Co., Ltd. 196,258 329,469 #* STX Engine Co., Ltd. 110,220 544,503 #* STX Offshore & Shipbuilding Co., Ltd. 336,686 983,952 #* STX Pan Ocean Co., Ltd. 577,310 611,967 # Suheung Capsule Co., Ltd. 31,130 1,110,097 Sun Kwang Co., Ltd. 8,392 141,454 #* Sung Jin Geotec Co., Ltd. 58,940 514,443 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- SOUTH KOREA -- (Continued) Sung Kwang Bend Co., Ltd. 10,596 $ 290,078 #* Sungchang Enterprise Holdings, Ltd. 22,640 378,016 * Sungshin Cement Co., Ltd. 55,920 295,161 Sungwoo Hitech Co., Ltd. 121,863 1,885,158 # Sunjin Co., Ltd. 23,037 464,057 #* Suprema, Inc. 35,689 808,541 #* Synopex, Inc. 240,534 456,185 Tae Kyung Industrial Co., Ltd. 63,710 281,764 Taekwang Industrial Co., Ltd. 1,991 2,460,375 #* Taesan LCD Co., Ltd. 52,784 161,560 #* Taewoong Co., Ltd. 43,882 1,308,250 Taeyoung Engineering & Construction Co., Ltd. 190,440 1,027,368 #* Taihan Electric Wire Co., Ltd. 465,434 897,730 # Tailim Packaging Industrial Co., Ltd. 146,790 359,833 TCC Steel 40,848 140,324 #* Tera Resource Co., Ltd. 791,455 355,157 #* Tera Semicon Co., Ltd. 19,182 259,947 * TES Co Ltd/Korea 235 2,842 #* Theall Medi Bio 55,770 159,881 #* Theragen Etex Co., Ltd. 50,941 344,958 #* TK Chemical Corp. 203,842 321,224 # Tong Yang Moolsan Co., Ltd. 20,210 178,363 Tongyang Life Insurance 188,370 1,998,536 TONGYANG Securities, Inc. 193,093 439,488 #* Tongyang, Inc. 270,618 118,430 #* Top Engineering Co., Ltd. 31,343 139,078 #* Toptec Co., Ltd. 27,133 405,382 # Tovis Co., Ltd. 40,284 320,052 #* Trais Co., Ltd. 52,841 139,212 TS Corp. 17,820 469,979 #* UBCare Co., Ltd. 53,804 144,447 Ubiquoss, Inc. 25,787 191,664 #* Ubivelox, Inc. 10,386 173,301 # UI Display Co., Ltd. 20,641 227,390 # Uju Electronics Co., Ltd. 26,734 478,748 # Unid Co., Ltd. 17,246 1,081,721 Union Steel 9,090 132,469 #* Uniquest Corp. 21,430 274,414 #* Unison Co., Ltd. 75,108 315,242 # Value Added Technologies Co., Ltd. 11,875 137,367 #* VGX International, Inc. 104,335 143,090 # Vieworks Co., Ltd. 25,514 670,154 # Visang Education, Inc. 28,016 327,401 #* Webzen, Inc. 36,313 289,468 #* WeMade Entertainment Co., Ltd. 16,873 751,376 # Whanin Pharmaceutical Co., Ltd. 42,680 441,612 #* WillBes & Co. (The) 246,890 250,948 #* WiSoL Co., Ltd. 36,548 424,602 #* Wonik IPS Co., Ltd. 128,886 1,064,672 Woojeon & Handan Co., Ltd. 8,069 76,318 #* Woongjin Chemical Co., Ltd. 105,816 950,277 #* Woongjin Energy Co., Ltd. 261,630 529,798 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- -------------- SOUTH KOREA -- (Continued) * Woongjin Holdings Co., Ltd. 2,627 $ 7,900 #* Woongjin Thinkbig Co., Ltd. 82,468 470,966 Wooree ETI Co., Ltd. 137,887 398,268 Woori Finance Holdings Co., Ltd. 1,411,110 16,717,780 Woori Finance Holdings Co., Ltd. ADR 1,818 63,703 Woori Financial Co., Ltd. 51,076 1,066,660 Woori Investment & Securities Co., Ltd. 687,625 7,262,150 #* Wooridul Life Sciences, Ltd. 245,120 117,880 # WooSung Feed Co., Ltd. 85,910 225,696 # Y G-1 Co., Ltd. 60,534 698,762 YESCO Co., Ltd. 12,670 418,116 # YG Entertainment, Inc. 19,990 962,703 # Yoosung Enterprise Co., Ltd. 70,471 336,320 # YooSung T&S Co., Ltd. 60,732 123,126 Youlchon Chemical Co., Ltd. 56,010 657,135 Young Heung Iron & Steel Co., Ltd. 71,320 152,597 Young Poong Corp. 2,442 3,248,264 Young Poong Precision Corp. 48,560 456,851 # Youngone Corp. 67,250 2,275,728 Youngone Holdings Co., Ltd. 20,970 1,277,124 Yuhan Corp. 30,599 5,382,973 YuHwa Securities Co., Ltd. 4,830 53,867 #* Yungjin Pharmaceutical Co., Ltd. 327,963 547,186 -------------- TOTAL SOUTH KOREA 1,938,439,759 -------------- TAIWAN -- (13.6%) # A-DATA Technology Co., Ltd. 1,057,000 3,112,331 Ability Enterprise Co., Ltd. 2,186,893 1,649,055 AcBel Polytech, Inc. 1,779,468 1,800,934 Accton Technology Corp. 2,975,369 1,625,500 # Ace Pillar Co., Ltd. 259,617 277,443 #* Acer, Inc. 14,035,127 9,170,001 ACES Electronic Co., Ltd. 447,000 331,777 ACHEM TECHNOLOGY Corp. 1,045,629 601,375 #* Acme Electronics Corp. 456,186 585,530 # Acter Co., Ltd. 200,000 855,036 * Action Electronics Co., Ltd. 920,977 194,533 Actron Technology Corp. 226,200 918,052 Adlink Technology, Inc. 432,295 805,123 # Advanced Ceramic X Corp. 214,000 953,132 * Advanced Connectek, Inc. 492,000 173,019 Advanced International Multitech Co., Ltd. 610,000 663,055 Advanced Semiconductor Engineering, Inc. 15,664,750 15,424,268 # Advanced Semiconductor Engineering, Inc. ADR 823,972 4,062,182 * Advanced Wireless Semiconductor Co. 46,000 22,049 # Advancetek Enterprise Co., Ltd. 655,896 787,896 Advantech Co., Ltd. 603,440 3,867,822 #* AGV Products Corp. 2,926,407 956,467 # AimCore Technology Co., Ltd. 299,402 441,222 # Airtac International Group 328,490 2,377,119 # Alcor Micro Corp. 463,000 439,953 # ALI Corp. 1,896,000 2,056,124 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- TAIWAN -- (Continued) # Allis Electric Co., Ltd. 329,000 $ 112,062 Alltop Technology Co., Ltd. 85,000 75,393 # Alpha Networks, Inc. 2,047,000 1,329,895 Altek Corp. 2,342,085 1,780,684 # Ambassador Hotel (The) 1,445,000 1,438,602 # AMPOC Far-East Co., Ltd. 540,567 460,039 # AmTRAN Technology Co., Ltd. 4,866,944 3,116,588 # Anpec Electronics Corp. 640,000 442,399 Apacer Technology, Inc. 623,918 655,410 # APCB, Inc. 747,000 464,970 # Apex Biotechnology Corp. 439,625 1,174,085 # Apex International Co., Ltd. 303,000 388,602 # Apex Medical Corp. 332,463 401,904 # Apex Science & Engineering 591,041 335,472 Arcadyan Technology Corp. 513,000 711,103 Ardentec Corp. 2,306,646 1,543,971 * Arima Communications Corp. 1,225,153 622,051 Asia Cement Corp. 7,381,015 10,012,251 #* Asia Optical Co., Inc. 1,474,000 1,464,173 # Asia Plastic Recycling Holding, Ltd. 339,056 1,012,087 # Asia Polymer Corp. 1,865,200 1,634,442 Asia Vital Components Co., Ltd. 1,744,864 1,011,091 # ASROCK, Inc. 176,000 592,176 Astro Corp. 78,000 115,206 # Asustek Computer, Inc. 2,864,861 21,864,890 Aten International Co., Ltd. 437,715 1,143,771 #* AU Optronics Corp. 33,279,497 10,885,452 * AU Optronics Corp. Sponsored ADR 1,500,152 4,740,480 Audix Corp. 622,969 660,825 AURAS Technology Co., Ltd. 115,822 79,086 Aurora Corp. 407,226 852,253 AV Tech Corp. 201,000 605,953 Avermedia Technologies 1,223,037 596,657 * Avision, Inc. 904,263 352,474 # AVY Precision Technology, Inc. 266,000 453,024 Awea Mechantronic Co., Ltd. 176,774 212,498 Bank of Kaohsiung 2,231,495 720,990 Basso Industry Corp. 621,427 721,067 * BenQ Materials Corp. 819,000 597,291 # BES Engineering Corp. 8,787,050 2,690,076 Bin Chuan Enterprise Co., Ltd. 263,530 242,630 Bionet Corp. 208,000 329,275 Biostar Microtech International Corp. 896,712 327,570 Boardtek Electronics Corp. 760,000 929,530 * Bright Led Electronics Corp. 657,180 286,760 C Sun Manufacturing, Ltd. 835,740 592,638 Cameo Communications, Inc. 1,245,116 409,242 # Capella Microsystems Taiwan, Inc. 205,234 727,265 # Capital Securities Corp. 10,995,210 3,766,285 # Career Technology MFG. Co., Ltd. 1,875,000 1,785,792 # Carnival Industrial Corp. 1,889,000 568,764 * Carry Technology Co,. Ltd. 342,000 278,425 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- TAIWAN -- (Continued) # Catcher Technology Co., Ltd. 2,233,872 $12,988,005 Cathay Chemical Works 35,000 20,863 # Cathay Financial Holding Co., Ltd. 17,445,239 26,355,565 Cathay Real Estate Development Co., Ltd. 4,409,000 3,074,525 Celxpert Energy Corp. 108,000 57,736 #* Center Laboratories, Inc. 453,826 1,024,945 Central Reinsurance Co., Ltd. 554,774 250,458 # ChainQui Construction Development Co., Ltd. 425,464 310,636 Chaintech Technology Corp. 134,743 189,633 * Champion Building Materials Co., Ltd. 2,178,390 977,549 * Chang Ho Fibre Corp. 49,000 17,831 Chang Hwa Commercial Bank 20,496,499 12,295,028 Chang Wah Electromaterials, Inc. 245,599 668,887 # Channel Well Technology Co., Ltd. 308,000 147,016 Charoen Pokphand Enterprise 944,000 495,308 # Chaun-Choung Technology Corp. 366,000 705,350 # CHC Resources Corp. 276,135 563,194 Chen Full International Co., Ltd. 603,000 541,374 # Chenbro Micom Co., Ltd. 237,000 277,584 Cheng Loong Corp. 5,467,160 2,585,689 Cheng Shin Rubber Industry Co., Ltd. 3,248,508 8,662,232 Cheng Uei Precision Industry Co., Ltd. 2,600,630 5,453,853 #* Chenming Mold Industry Corp. 542,708 442,666 # Chia Chang Co., Ltd. 785,000 1,020,299 * Chia Hsin Cement Corp. 2,422,747 1,236,607 Chicony Electronics Co., Ltd. 1,634,810 4,074,285 Chien Kuo Construction Co., Ltd. 1,808,706 869,756 * Chien Shing Stainless Steel 350,000 46,866 Chilisin Electronics Corp. 597,201 574,053 Chime Ball Technology Co., Ltd. 174,000 399,686 # Chimei Materials Technology Corp. 999,000 1,022,709 Chin-Poon Industrial Co. 1,975,617 3,297,190 * China Airlines, Ltd. 14,488,057 5,248,205 China Chemical & Pharmaceutical Co., Ltd. 1,587,000 1,356,498 China Development Financial Holding Corp. 58,459,924 17,473,304 China Ecotek Corp. 160,000 429,147 # China Electric Manufacturing Corp. 1,483,220 706,221 China General Plastics Corp. 1,957,160 1,210,521 China Glaze Co., Ltd. 719,162 347,163 China Life Insurance Co., Ltd. 11,187,695 10,979,370 * China Manmade Fibers Corp. 7,151,662 3,037,828 China Metal Products 1,385,476 2,052,348 # China Motor Corp. 3,476,716 3,322,426 # China Petrochemical Development Corp. 12,341,325 6,206,486 China Steel Chemical Corp. 355,998 2,133,148 # China Steel Corp. 28,604,942 24,859,610 China Steel Structure Co., Ltd. 633,000 787,678 China Synthetic Rubber Corp. 2,746,818 2,663,575 * China United Trust & Investment Corp 50,053 -- * China Wire & Cable Co., Ltd. 802,000 375,510 Chinatrust Financial Holding Co., Ltd. 43,121,191 29,250,510 Chinese Gamer International Corp. 197,000 340,867 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- TAIWAN -- (Continued) Chinese Maritime Transport, Ltd. 656,460 $ 844,875 Chipbond Technology Corp. 2,232,000 4,510,342 Chong Hong Construction Co. 511,551 1,681,118 Chroma ATE, Inc. 1,258,705 2,681,254 * Chun YU Works & Co., Ltd. 1,095,000 416,225 Chun Yuan Steel 2,165,177 829,329 Chung Hsin Electric & Machinery Manufacturing Corp. 2,598,000 2,024,018 * Chung Hung Steel Corp. 4,840,926 1,386,265 * Chung Hwa Pulp Corp. 2,714,530 874,191 Chunghwa Chemical Synthesis & Biotech Co., Ltd. 272,000 548,036 * Chunghwa Picture Tubes, Ltd. 15,894,759 871,808 Chunghwa Telecom Co., Ltd. 2,437,000 7,823,921 # Chunghwa Telecom Co., Ltd. ADR 407,801 12,984,384 #* Chyang Sheng Dyeing & Finishing Co., Ltd. 667,000 360,540 # Cleanaway Co., Ltd. 172,000 1,074,412 Clevo Co. 2,019,482 4,293,702 #* CMC Magnetics Corp. 16,053,210 2,705,506 # CoAsia Microelectronics Corp. 533,400 291,319 Collins Co., Ltd. 712,078 264,835 # Compal Communications, Inc. 1,349,744 2,309,244 # Compal Electronics, Inc. 21,959,560 17,182,312 Compeq Manufacturing Co. 6,090,000 3,076,688 * Concord Securities Corp. 963,000 252,287 Continental Holdings Corp. 2,490,667 907,334 Coretronic Corp. 4,529,000 3,961,229 * Cosmo Electronics Corp. 271,245 297,338 * Cosmos Bank Taiwan 1,441,164 718,929 Coxon Precise Industrial Co., Ltd. 625,000 1,100,389 Creative Sensor, Inc. 66,000 39,733 #* Crystalwise Technology, Inc. 640,000 495,375 CSBC Corp. Taiwan 2,661,150 1,697,499 CTCI Corp. 2,109,896 3,689,986 # CviLux Corp. 352,672 422,822 Cyberlink Corp. 475,504 1,385,410 CyberPower Systems, Inc. 219,000 421,555 # CyberTAN Technology, Inc. 1,456,873 1,659,606 D-Link Corp. 4,165,924 2,521,013 DA CIN Construction Co., Ltd. 785,809 696,949 # Da-Li Construction Co., Ltd. 377,044 436,192 Dah Fung CATV Co., Ltd. 232,320 451,365 Darfon Electronics Corp. 1,537,700 1,166,310 # Davicom Semiconductor, Inc. 359,392 243,775 # Daxin Materials Corp. 201,000 441,304 De Licacy Industrial Co. 139,000 52,171 # Delpha Construction Co., Ltd. 1,105,754 449,696 Delta Electronics, Inc. 2,444,163 12,710,805 Depo Auto Parts Ind Co., Ltd. 517,634 1,816,966 DFI, Inc. 353,571 388,894 Dimerco Express Corp. 428,000 269,023 # DYNACOLOR, Inc. 209,000 485,840 * Dynamic Electronics Co., Ltd. 1,717,583 673,336 # Dynapack International Technology Corp. 696,000 1,983,559 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- TAIWAN -- (Continued) #* E Ink Holdings, Inc. 5,510,000 $ 3,093,341 # E-Lead Electronic Co., Ltd. 314,846 498,965 E-LIFE MALL Corp. 323,000 742,007 #* E-Ton Solar Tech Co., Ltd. 2,310,168 1,421,200 E.Sun Financial Holding Co., Ltd. 22,256,756 14,905,390 * Eastern Media International Corp. 5,118,360 844,944 Eclat Textile Co., Ltd. 424,745 4,671,125 Edimax Technology Co., Ltd. 1,081,423 481,953 # Edison Opto Corp. 549,000 649,703 Edom Technology Co., Ltd. 215,600 104,197 # eGalax_eMPIA Technology, Inc. 188,790 480,707 # Elan Microelectronics Corp. 1,690,323 2,558,519 # Elite Advanced Laser Corp. 344,000 839,013 Elite Material Co., Ltd. 1,667,839 1,381,610 Elite Semiconductor Memory Technology, Inc. 1,364,390 1,794,089 Elitegroup Computer Systems Co., Ltd. 4,432,334 1,904,368 eMemory Technology, Inc. 277,000 678,508 # ENG Electric Co., Ltd. 702,247 586,495 # Entie Commercial Bank 2,149,166 1,107,319 * Entire Technology Co., Ltd. 12,000 12,876 * Episil Technologies, Inc. 1,721,000 596,855 # Epistar Corp. 4,471,898 7,754,681 Eternal Chemical Co., Ltd. 3,511,211 3,209,816 * Etron Technology, Inc. 2,366,000 1,147,516 * Eva Airways Corp. 7,257,712 4,040,083 * Everest Textile Co., Ltd. 1,477,064 432,975 Evergreen International Storage & Transport Corp. 3,268,000 2,220,055 * Evergreen Marine Corp. Taiwan, Ltd. 9,340,472 5,495,325 Everlight Chemical Industrial Corp. 2,004,042 1,853,628 # Everlight Electronics Co., Ltd. 1,966,570 3,715,691 #* Everspring Industry Co. 943,000 559,255 # Excelsior Medical Co., Ltd. 526,049 1,160,941 Far Eastern Department Stores Co., Ltd. 4,323,530 4,650,455 # Far Eastern International Bank 9,320,301 3,868,089 Far Eastern New Century Corp. 10,772,304 12,373,569 Far EasTone Telecommunications Co., Ltd. 4,130,000 9,461,004 # Faraday Technology Corp. 1,454,822 1,658,670 #* Farglory F T Z Investment Holding Co., Ltd. 504,000 386,610 # Farglory Land Development Co., Ltd. 1,511,771 2,776,892 Federal Corp. 2,546,227 2,007,839 Feedback Technology Corp. 215,000 415,360 Feng Hsin Iron & Steel Co. 1,768,131 3,217,648 Feng TAY Enterprise Co., Ltd. 1,083,163 2,839,022 Fine Blanking & Tool Co., Ltd. 23,000 33,284 # Firich Enterprises Co., Ltd. 668,282 2,747,811 * First Copper Technology Co., Ltd. 1,044,000 339,092 First Financial Holding Co., Ltd. 29,967,969 18,547,465 First Hotel 824,274 530,750 # First Insurance Co., Ltd. 1,449,640 960,701 First Steamship Co., Ltd. 2,017,838 1,392,862 # FLEXium Interconnect, Inc. 753,910 2,348,259 # Flytech Technology Co., Ltd. 357,838 1,328,275 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- TAIWAN -- (Continued) Forhouse Corp. 2,181,304 $ 834,054 Formosa Advanced Technologies Co., Ltd. 901,000 556,405 Formosa Chemicals & Fibre Corp. 7,521,198 21,738,771 #* Formosa Epitaxy, Inc. 2,501,797 1,522,089 Formosa International Hotels Corp. 106,180 1,278,586 #* Formosa Laboratories, Inc. 237,178 603,085 # Formosa Oilseed Processing 307,891 148,865 Formosa Optical Technology Co., Ltd. 199,000 710,090 Formosa Petrochemical Corp. 1,864,000 5,007,626 Formosa Plastics Corp. 7,318,770 19,888,974 Formosa Taffeta Co., Ltd. 3,607,460 4,483,695 Formosan Rubber Group, Inc. 2,766,000 2,624,529 Formosan Union Chemical 1,444,401 692,900 Fortune Electric Co., Ltd. 644,304 402,258 Founding Construction & Development Co., Ltd. 986,636 648,884 # Foxconn Technology Co., Ltd. 3,593,083 9,029,754 Foxlink Image Technology Co., Ltd. 711,000 447,730 * Froch Enterprise Co., Ltd. 818,000 267,140 FSP Technology, Inc. 1,066,414 984,721 Fubon Financial Holding Co., Ltd. 16,386,387 24,015,201 # Fullerton Technology Co., Ltd. 551,670 454,100 #* Fulltech Fiber Glass Corp. 1,625,541 658,096 Fwusow Industry Co., Ltd. 850,334 522,912 G Shank Enterprise Co., Ltd. 1,119,445 693,102 # G Tech Optoelectronics Corp. 1,004,000 1,756,173 * Gallant Precision Machining Co., Ltd. 895,000 383,418 * Gamania Digital Entertainment Co., Ltd. 528,000 432,351 GEM Terminal Industrial Co., Ltd. 313,938 124,046 # Gemtek Technology Corp. 1,890,574 1,835,045 General Plastic Industrial Co., Ltd. 220,684 233,747 #* Genesis Photonics, Inc. 1,429,103 841,085 # Genius Electronic Optical Co., Ltd. 308,810 1,254,695 # Genmont Biotech, Inc. 263,000 413,663 GeoVision, Inc. 151,615 995,394 # Getac Technology Corp. 2,426,281 1,335,966 Giant Manufacturing Co., Ltd. 553,363 4,152,911 #* Giantplus Technology Co., Ltd. 935,000 282,399 # Giga Solar Materials Corp. 67,850 709,970 Giga Solution Tech Co., Ltd. 565,044 304,539 Gigabyte Technology Co., Ltd. 2,801,750 3,128,087 #* Gigastorage Corp. 1,812,728 1,462,001 #* Gintech Energy Corp. 2,452,784 2,637,665 #* Global Brands Manufacture, Ltd. 1,752,973 625,645 Global Lighting Technologies, Inc. 402,000 408,066 Global Mixed Mode Technology, Inc. 427,000 1,136,895 # Global Unichip Corp. 424,000 1,055,172 * Globe Union Industrial Corp. 1,104,019 839,288 # Gloria Material Technology Corp. 2,712,851 1,856,239 * Glotech Industrial Corp. 62,000 15,115 * Gold Circuit Electronics, Ltd. 2,428,747 634,450 Goldsun Development & Construction Co., Ltd. 8,019,672 3,315,566 Good Will Instrument Co., Ltd. 189,290 116,416 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- TAIWAN -- (Continued) # Gourmet Master Co., Ltd. 192,000 $ 1,278,198 Grand Pacific Petrochemical 6,040,000 4,661,863 Grape King Industrial Co. 321,000 1,545,214 Great China Metal Industry 841,000 998,722 Great Taipei Gas Co., Ltd. 1,390,000 1,051,170 Great Wall Enterprise Co., Ltd. 2,286,921 2,061,145 #* Green Energy Technology, Inc. 1,553,640 1,375,223 #* GTM Corp. 705,000 380,962 # Gudeng Precision Industrial Co., Ltd. 159,300 284,862 # Hannstar Board Corp. 1,545,875 628,154 #* HannStar Display Corp. 17,388,631 5,822,216 * HannsTouch Solution, Inc. 4,239,262 1,373,315 #* Harvatek Corp. 888,316 365,979 Hey Song Corp. 2,086,000 2,392,764 Hi-Clearance, Inc. 124,000 384,375 Highwealth Construction Corp. 1,310,682 2,829,326 Hiroca Holdings, Ltd. 154,300 436,265 #* HiTi Digital, Inc. 768,975 714,049 Hitron Technology, Inc. 1,191,300 639,107 # Hiwin Technologies Corp. 456,238 3,593,650 * Hiyes International Co., Ltd. 2,260 3,060 Ho Tung Chemical Corp. 4,840,545 2,363,373 * Hocheng Corp. 1,479,300 569,377 # Hold-Key Electric Wire & Cable Co., Ltd. 266,901 95,461 Holiday Entertainment Co., Ltd. 264,400 322,851 Holtek Semiconductor, Inc. 815,000 1,254,466 Holy Stone Enterprise Co., Ltd. 1,169,822 1,476,095 Hon Hai Precision Industry Co., Ltd. 28,489,623 72,428,987 Hong Ho Precision Textile Co 167,000 190,417 Hong TAI Electric Industrial 1,184,000 403,050 Hong YI Fiber Industry Co. 55,680 18,624 Horizon Securities Co., Ltd. 2,609,000 789,552 #* Hota Industrial Manufacturing Co., Ltd. 714,000 1,174,193 # Hotai Motor Co., Ltd. 407,000 4,841,705 #* Howarm Construction Co., Ltd. 1,029,310 622,086 Hsin Kuang Steel Co., Ltd. 1,504,783 959,086 # Hsin Yung Chien Co., Ltd. 150,000 402,598 Hsing TA Cement Co. 335,000 126,437 # HTC Corp. 3,224,619 15,827,439 Hu Lane Associate, Inc. 295,620 971,657 HUA ENG Wire & Cable 2,491,000 987,943 Hua Nan Financial Holdings Co., Ltd. 22,992,435 13,632,064 Huaku Development Co., Ltd. 1,247,400 3,493,478 Huang Hsiang Construction Co. 437,735 879,207 # Hung Ching Development & Construction Co., Ltd. 498,000 320,373 Hung Poo Real Estate Development Corp. 1,599,554 1,661,627 # Hung Sheng Construction Co., Ltd. 2,873,900 2,455,250 # Huxen Corp. 239,072 377,793 * Hwa Fong Rubber Co., Ltd. 1,818,000 824,825 # I-Chiun Precision Industry Co., Ltd. 1,091,211 709,178 I-Sheng Electric Wire & Cable Co., Ltd. 621,000 908,774 Ibase Technology, Inc. 488,987 708,219 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- TAIWAN -- (Continued) Ichia Technologies, Inc. 1,950,255 $ 1,024,586 # ICP Electronics, Inc. 939,100 1,294,394 # ILI Technology Corp. 384,081 791,318 Infortrend Technology, Inc. 1,333,866 801,113 #* Innolux Corp. 30,381,561 12,048,894 * Inotera Memories, Inc. 8,868,528 5,718,660 * Inpaq Technology Co., Ltd. 173,000 164,494 Insyde Software Corp. 118,000 209,560 # Integrated Memory Logic, Ltd. 352,730 807,153 International Games System Co., Ltd. 361,000 708,433 # Inventec Corp. 10,795,276 9,662,413 ITE Technology, Inc. 787,646 667,955 ITEQ Corp. 1,225,611 1,363,124 #* J Touch Corp. 726,000 551,184 * Janfusun Fancyworld Corp. 1,103,468 215,893 * Jenn Feng New Energy Co., Ltd. 646,000 227,956 Jentech Precision Industrial Co., Ltd. 344,156 724,911 Jess-Link Products Co., Ltd. 921,600 856,361 # Jih Sun Financial Holdings Co., Ltd. 3,907,041 1,120,890 Johnson Health Tech Co., Ltd. 242,198 691,976 K Laser Technology, Inc. 883,459 509,054 Kang Na Hsiung Enterprise Co., Ltd. 719,150 427,840 * Kao Hsing Chang Iron & Steel 545,000 213,884 # Kaori Heat Treatment Co., Ltd. 305,153 616,232 Kaulin Manufacturing Co., Ltd. 834,684 691,393 KD Holding Corp. 78,000 501,696 KEE TAI Properties Co., Ltd. 1,906,101 1,369,129 Kenda Rubber Industrial Co., Ltd. 1,889,509 3,715,147 * Kenmec Mechanical Engineering Co., Ltd. 1,282,000 660,643 Kerry TJ Logistics Co., Ltd. 1,275,000 1,788,051 Keysheen Cayman Holdings Co., Ltd. 14,000 26,857 # Kindom Construction Co. 1,913,000 2,364,665 King Core Electronics, Inc. 77,065 51,084 King Slide Works Co., Ltd. 145,450 1,287,432 King Yuan Electronics Co., Ltd. 7,834,032 5,462,625 King's Town Bank 4,376,653 3,893,527 * King's Town Construction Co., Ltd. 869,579 841,407 Kinik Co. 555,000 1,386,528 # Kinko Optical Co., Ltd. 938,772 963,709 Kinpo Electronics 7,564,892 3,371,373 Kinsus Interconnect Technology Corp. 888,476 3,172,056 # KMC Kuei Meng International, Inc. 82,000 362,641 # KS Terminals, Inc. 578,290 561,648 Kung Long Batteries Industrial Co., Ltd. 291,000 800,246 Kung Sing Engineering Corp. 1,961,000 980,659 # Kuo Toong International Co., Ltd. 857,000 1,159,445 # Kuoyang Construction Co., Ltd. 2,163,586 1,446,596 Kwong Fong Industries 1,248,000 929,219 KYE Systems Corp. 1,525,736 656,885 L&K Engineering Co., Ltd. 686,000 716,691 LAN FA Textile 900,412 291,252 # Largan Precision Co., Ltd. 172,234 5,865,136 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- TAIWAN -- (Continued) Laser Tek Taiwan Co., Ltd. 22,144 $ 13,260 # LCY Chemical Corp. 2,498,495 3,298,192 Leader Electronics, Inc. 746,886 371,187 Leadtrend Technology Corp. 166,926 218,576 Lealea Enterprise Co., Ltd. 4,131,570 1,518,889 Ledtech Electronics Corp. 573,095 361,033 LEE CHI Enterprises Co., Ltd. 1,148,000 570,604 # Lelon Electronics Corp. 518,900 404,236 #* Leofoo Development Co. 1,442,614 615,263 # LES Enphants Co., Ltd. 1,010,479 779,347 # Lextar Electronics Corp. 1,726,000 1,474,782 * Li Peng Enterprise Co., Ltd. 2,890,525 1,434,302 Lian HWA Food Corp. 391,788 522,259 Lien Hwa Industrial Corp. 3,026,809 1,956,845 Lingsen Precision Industries, Ltd. 2,230,490 1,157,739 Lite-On Semiconductor Corp. 1,668,000 1,005,492 Lite-On Technology Corp. 7,735,123 13,541,503 # Long Bon International Co., Ltd. 1,781,875 1,429,551 Long Chen Paper Co., Ltd. 2,751,380 1,086,597 Longwell Co. 627,000 556,442 # Lotes Co., Ltd. 367,920 903,190 * Lucky Cement Corp. 855,000 234,298 # Lumax International Corp., Ltd. 445,140 1,135,931 # Lung Yen Life Service Corp. 368,000 1,113,940 # Macroblock, Inc. 182,000 417,834 #* Macronix International 23,266,994 5,438,997 # MacroWell OMG Digital Entertainment Co., Ltd. 130,000 367,037 Mag Layers Scientific-Technics Co., Ltd. 39,413 64,911 Makalot Industrial Co., Ltd. 522,430 3,153,749 # Marketech International Corp. 720,000 439,174 Masterlink Securities Corp. 6,270,000 2,068,991 Maxtek Technology Co., Ltd. 125,000 72,647 Mayer Steel Pipe Corp. 818,905 395,144 # Maywufa Co., Ltd. 178,462 101,068 # MediaTek, Inc. 1,990,823 27,218,386 #* Medigen Biotechnology Corp. 294,975 2,077,069 Mega Financial Holding Co., Ltd. 27,186,129 23,540,155 Meiloon Industrial Co. 497,721 384,502 Mercuries & Associates, Ltd. 1,668,125 1,253,693 * Mercuries Data Systems, Ltd. 120,000 36,698 Merida Industry Co., Ltd. 450,513 3,410,561 Merry Electronics Co., Ltd. 978,661 3,351,065 Micro-Star International Co., Ltd. 4,617,465 3,103,623 #* Microbio Co., Ltd. 1,660,358 1,959,788 #* Microelectronics Technology, Inc. 1,389,448 898,756 Microlife Corp. 224,100 632,526 # MIN AIK Technology Co., Ltd. 624,562 3,156,910 # Mirle Automation Corp. 921,923 787,571 * Mitac Holdings Corp. 2,995,568 2,752,951 Mobiletron Electronics Co., Ltd. 253,000 316,614 * Mosel Vitelic, Inc. 2,145,758 491,648 #* Motech Industries, Inc. 1,953,000 3,633,773 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- TAIWAN -- (Continued) # MPI Corp. 423,000 $ 738,466 Nak Sealing Technologies Corp. 249,549 643,798 Namchow Chemical Industrial, Ltd. 679,000 1,144,906 Nan Kang Rubber Tire Co., Ltd. 2,264,197 2,909,771 #* Nan Ren Lake Leisure Amusement Co., Ltd. 1,112,000 510,628 Nan Ya Plastics Corp. 10,956,584 24,990,207 #* Nan Ya Printed Circuit Board Corp. 1,571,211 2,122,264 Nantex Industry Co., Ltd. 1,355,233 961,977 * Nanya Technology Corp. 3,553,570 493,279 # National Petroleum Co., Ltd. 736,000 705,085 #* Neo Solar Power Corp. 3,490,390 3,719,386 # Netronix, Inc. 290,000 723,168 # New Asia Construction & Development Corp. 873,423 231,159 New Era Electronics Co., Ltd. 418,000 535,733 #* Newmax Technology Co., Ltd. 319,916 1,059,477 Nexcom International Co., Ltd. 186,265 144,127 Nichidenbo Corp. 615,880 540,660 Nien Hsing Textile Co., Ltd. 1,615,093 1,752,323 Nishoku Technology, Inc. 121,000 170,953 # Novatek Microelectronics Corp. 1,874,000 7,423,724 # Nuvoton Technology Corp. 349,000 274,224 O-TA Precision Industry Co., Ltd. 17,000 11,920 * Ocean Plastics Co., Ltd. 1,000,000 1,252,282 Oneness Biotech Co., Ltd. 438,000 753,269 * Optimax Technology Corp. 204,366 32,926 OptoTech Corp. 3,239,713 1,339,716 * Orient Semiconductor Electronics, Ltd. 2,955,000 512,214 # Oriental Union Chemical Corp. 3,254,819 3,461,365 # Orise Technology Co., Ltd. 469,000 727,958 P-Two Industries, Inc. 82,000 41,282 Pacific Construction Co. 704,276 249,019 Pacific Hospital Supply Co., Ltd. 15,000 55,909 * Pan Jit International, Inc. 1,999,860 863,523 # Pan-International Industrial 2,194,218 1,756,043 Parade Technologies, Ltd. 149,805 1,120,041 # Paragon Technologies Co., Ltd. 403,626 518,786 # PChome Online, Inc. 167,197 971,528 # Pegatron Corp. 8,479,293 11,814,795 * PharmaEngine, Inc. 105,438 947,860 Phihong Technology Co., Ltd. 1,536,048 948,077 Phison Electronics Corp. 450,000 3,233,946 Phoenix Tours International, Inc. 241,000 463,792 #* Phytohealth Corp. 828,878 1,224,352 #* Pihsiang Machinery Manufacturing Co., Ltd. 657,000 708,828 # Pixart Imaging, Inc. 742,000 1,408,025 Plotech Co., Ltd. 216,000 76,872 # Polytronics Technology Corp. 252,408 512,818 Portwell, Inc. 507,000 473,930 Posiflex Technologies, Inc. 131,445 420,730 Pou Chen Corp. 8,886,005 10,824,004 Power Mate Technology Co., Ltd. 11,000 17,071 * Power Quotient International Co., Ltd. 1,055,400 666,611 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- TAIWAN -- (Continued) * Powercom Co., Ltd. 844,730 $ 161,686 Powertech Industrial Co., Ltd. 410,000 236,950 # Powertech Technology, Inc. 3,531,580 6,364,372 # Poya Co., Ltd. 170,690 897,636 President Chain Store Corp. 877,728 6,402,115 President Securities Corp. 4,402,213 2,480,163 # Prime Electronics Satellitics, Inc. 834,511 652,572 Prince Housing & Development Corp. 4,642,249 2,990,753 * Prodisc Technology, Inc. 603,000 -- # Promate Electronic Co., Ltd. 839,000 877,722 Promise Technology, Inc. 699,538 797,834 * Protop Technology Co., Ltd 148,000 -- * Qisda Corp. 10,855,525 2,518,799 # Qualipoly Chemical Corp. 400,000 353,116 # Quanta Computer, Inc. 6,228,436 14,766,324 Quanta Storage, Inc. 1,294,000 1,347,544 #* Quintain Steel Co., Ltd. 1,819,059 421,592 # Radiant Opto-Electronics Corp. 1,482,692 5,548,226 # Radium Life Tech Co., Ltd. 3,362,755 2,942,526 Ralec Electronic Corp. 97,914 144,159 # Realtek Semiconductor Corp. 2,068,861 4,809,836 Rechi Precision Co., Ltd. 1,412,905 1,410,967 * Rexon Industrial Corp., Ltd. 51,559 22,730 Rich Development Co., Ltd. 3,015,769 1,295,354 Richtek Technology Corp. 636,175 2,866,881 #* Ritek Corp. 17,202,268 2,792,273 # Rotam Global Agrosciences, Ltd. 261,000 479,727 Roundtop Machinery Industries Co., Ltd. 50,000 30,788 # Ruentex Development Co., Ltd. 2,161,889 4,524,719 Ruentex Engineering & Construction Co. 173,000 335,246 Ruentex Industries, Ltd. 1,515,676 3,910,873 # Run Long Construction Co., Ltd. 407,000 443,315 Sampo Corp. 3,502,119 1,228,627 San Fang Chemical Industry Co., Ltd. 732,678 699,988 San Shing Fastech Corp. 284,500 643,250 Sanyang Industry Co., Ltd. 3,578,802 6,262,837 Sanyo Electric Taiwan Co., Ltd. 406,650 534,516 # SCI Pharmtech, Inc. 214,583 512,052 Scientech Corp. 27,000 49,167 # ScinoPharm Taiwan, Ltd. 617,760 2,055,263 SDI Corp. 674,000 751,187 Senao International Co., Ltd. 286,547 915,093 Sercomm Corp. 1,068,000 1,491,106 # Sesoda Corp. 752,812 810,050 Shan-Loong Transportation Co., Ltd. 150,247 123,490 Sheng Yu Steel Co., Ltd. 630,000 481,841 # ShenMao Technology, Inc. 483,659 564,862 # Shih Her Technologies, Inc. 254,000 555,055 Shih Wei Navigation Co., Ltd. 1,205,887 865,334 Shihlin Electric & Engineering Corp. 1,416,787 1,791,109 #* Shihlin Paper Corp. 446,000 709,320 Shin Hai Gas Corp. 7,364 9,816 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- TAIWAN -- (Continued) # Shin Kong Financial Holding Co., Ltd. 35,251,032 $12,259,582 Shin Shin Natural Gas Co. 9,480 10,797 # Shin Zu Shing Co., Ltd. 714,245 1,573,548 #* Shining Building Business Co., Ltd. 1,132,019 880,906 # Shinkong Insurance Co., Ltd. 1,429,784 1,113,145 Shinkong Synthetic Fibers Corp. 9,415,844 3,253,526 # Shinkong Textile Co., Ltd. 867,169 1,165,622 # Shiny Chemical Industrial Co., Ltd. 289,000 504,709 Shuttle, Inc. 1,640,000 717,565 # Sigurd Microelectronics Corp. 2,137,877 2,071,124 * Silicon Integrated Systems Corp. 3,257,233 1,013,524 Silicon Power Computer & Communications, Inc. 292,000 400,638 Siliconware Precision Industries Co. 7,331,492 8,907,508 # Siliconware Precision Industries Co. Sponsored ADR 456,091 2,731,985 Silitech Technology Corp. 800,742 1,034,790 Simplo Technology Co., Ltd. 921,800 4,532,508 # Sinbon Electronics Co., Ltd. 1,167,000 1,388,472 Sincere Navigation Corp. 1,861,370 1,730,198 Singatron Enterprise Co., Ltd. 373,000 200,502 * Sinkang Industries, Ltd. 177,866 63,760 # Sinmag Equipment Corp. 120,455 578,042 #* Sino-American Silicon Products, Inc. 3,176,000 4,402,761 # Sinon Corp. 2,189,740 1,226,483 SinoPac Financial Holdings Co., Ltd. 29,161,621 14,431,024 Sinphar Pharmaceutical Co., Ltd. 631,043 1,106,795 # Sinyi Realty Co. 627,935 1,149,470 # Sirtec International Co., Ltd. 677,000 1,301,097 # Sitronix Technology Corp. 660,774 1,102,235 #* Siward Crystal Technology Co., Ltd. 853,705 401,651 * Skymedi Corp. 212,000 96,690 Soft-World International Corp. 580,000 1,308,363 Solar Applied Materials Technology Co. 1,679,084 1,429,618 #* Solartech Energy Corp. 1,793,000 1,527,611 Solomon Technology Corp. 253,763 110,784 * Solytech Enterprise Corp. 1,152,676 427,329 Sonix Technology Co., Ltd. 758,000 1,032,059 Southeast Cement Co., Ltd. 1,110,000 642,061 Spirox Corp. 225,145 95,365 Sporton International, Inc. 265,710 956,998 St Shine Optical Co., Ltd. 130,000 3,828,800 # Standard Chemical & Pharma 485,040 848,314 # Standard Foods Corp. 685,010 2,100,425 * Star Comgistic Capital Co., Ltd. 1,002,894 413,043 Stark Technology, Inc. 709,400 735,906 Sunonwealth Electric Machine Industry Co., Ltd. 698,001 404,939 #* Sunplus Technology Co., Ltd. 2,039,153 745,871 Sunrex Technology Corp. 933,351 391,056 Sunspring Metal Corp. 259,000 766,955 * Super Dragon Technology Co., Ltd. 262,330 182,991 Supreme Electronics Co., Ltd. 900,000 456,729 # Swancor Ind Co., Ltd. 192,000 411,855 Sweeten Construction Co., Ltd. 810,470 525,503 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- TAIWAN -- (Continued) Syncmold Enterprise Corp. 661,000 $ 1,134,832 # Synmosa Biopharma Corp. 387,170 572,585 Synnex Technology International Corp. 5,598,745 8,931,846 # Sysage Technology Co., Ltd. 406,350 433,657 Systex Corp. 87,293 165,666 TA Chen Stainless Pipe 3,528,805 1,689,980 * Ta Chong Bank, Ltd. 9,696,990 3,401,434 #* Ta Chong Securities Co., Ltd. 299,000 91,512 Ta Ya Electric Wire & Cable 2,775,520 659,305 Ta Yih Industrial Co., Ltd. 87,000 173,543 # TA-I Technology Co., Ltd. 876,961 454,292 # Tah Hsin Industrial Co., Ltd. 507,000 495,317 TAI Roun Products Co., Ltd. 263,000 89,506 # Tai Tung Communication Co., Ltd. 317,000 402,068 Taichung Commercial Bank 11,749,659 4,357,383 # TaiDoc Technology Corp. 208,000 564,529 Taiflex Scientific Co., Ltd. 852,000 1,768,210 # Taimide Tech, Inc. 402,000 330,005 # Tainan Enterprises Co., Ltd. 730,289 827,843 Tainan Spinning Co., Ltd. 6,247,963 4,709,138 Taishin Financial Holding Co., Ltd. 34,005,802 17,174,703 #* Taisun Enterprise Co., Ltd. 1,698,578 871,530 * Taita Chemical Co., Ltd. 1,184,609 506,769 # Taiwan Acceptance Corp. 310,000 777,744 * Taiwan Business Bank 17,559,363 5,396,927 Taiwan Calsonic Co., Ltd. 30,000 29,764 Taiwan Cement Corp. 11,831,350 17,219,213 # Taiwan Chinsan Electronic Industrial Co., Ltd. 437,000 709,461 Taiwan Cogeneration Corp. 1,743,657 1,079,994 Taiwan Cooperative Financial Holding 23,891,096 13,434,141 Taiwan FamilyMart Co., Ltd. 72,000 392,121 Taiwan Fertilizer Co., Ltd. 3,466,000 8,259,188 Taiwan Fire & Marine Insurance Co. 938,880 748,925 * Taiwan Flourescent Lamp Co., Ltd. 119,000 -- Taiwan FU Hsing Industrial Co., Ltd. 761,000 854,355 # Taiwan Glass Industry Corp. 4,042,895 4,091,296 Taiwan Hon Chuan Enterprise Co., Ltd. 1,341,359 2,827,358 Taiwan Hopax Chemicals Manufacturing Co., Ltd. 945,000 716,327 * Taiwan Kolin Co., Ltd. 508,000 -- * Taiwan Land Development Corp. 4,349,110 1,669,245 #* Taiwan Life Insurance Co., Ltd. 2,226,695 1,974,060 # Taiwan Line Tek Electronic 384,871 325,730 Taiwan Mask Corp. 1,011,050 328,734 Taiwan Mobile Co., Ltd. 1,934,900 6,599,739 Taiwan Navigation Co., Ltd. 927,720 860,294 Taiwan Paiho, Ltd. 1,535,152 2,127,608 # Taiwan PCB Techvest Co., Ltd. 1,295,816 1,485,630 # Taiwan Prosperity Chemical Corp. 880,000 901,566 * Taiwan Pulp & Paper Corp. 2,228,260 975,222 # Taiwan Sakura Corp. 1,395,304 902,482 Taiwan Secom Co., Ltd. 943,932 2,287,463 # Taiwan Semiconductor Co., Ltd. 1,372,000 1,128,315 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ------------ TAIWAN -- (Continued) # Taiwan Semiconductor Manufacturing Co., Ltd. 40,714,652 $150,056,501 # Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR 754,959 13,898,795 # Taiwan Sogo Shin Kong SEC 1,077,407 1,339,311 * Taiwan Styrene Monomer 2,640,242 2,012,582 Taiwan Surface Mounting Technology Co., Ltd. 1,235,162 1,759,352 #* Taiwan TEA Corp. 3,856,896 3,171,501 # Taiwan Union Technology Corp. 1,122,000 858,127 Taiyen Biotech Co., Ltd. 1,270,000 1,086,720 * Tang Eng Iron Works Co., Ltd. 23,000 22,863 * Tatung Co., Ltd. 13,444,588 3,727,412 # Te Chang Construction Co., Ltd. 442,860 403,362 Teco Electric and Machinery Co., Ltd. 8,707,000 9,286,189 * Tecom Co., Ltd. 408,000 41,370 * Tekcore Co., Ltd. 359,000 162,053 Ten Ren Tea Co., Ltd. 180,170 266,999 # Test Research, Inc. 944,370 1,285,070 Test-Rite International Co., Ltd. 1,607,166 1,251,163 TEX RAY INDUSTRIAL Co., Ltd. 465,000 249,087 ThaiLin Semiconductor Corp. 856,000 513,616 Thinking Electronic Industrial Co., Ltd. 471,058 546,298 # Thye Ming Industrial Co., Ltd. 939,992 1,084,950 TNC Industrial Corp., Ltd. 178,000 104,173 Ton Yi Industrial Corp. 3,340,300 3,695,998 Tong Hsing Electronic Industries, Ltd. 544,534 2,880,643 # Tong Yang Industry Co., Ltd. 2,058,341 3,205,163 Tong-Tai Machine & Tool Co., Ltd. 1,195,210 1,146,776 Topco Scientific Co., Ltd. 814,010 1,426,982 # Topco Technologies Corp. 196,000 483,858 Topoint Technology Co., Ltd. 882,771 677,074 Toung Loong Textile Manufacturing 327,000 1,246,875 Trade-Van Information Services Co. 315,000 286,806 # Transasia Airways Corp. 740,000 309,313 # Transcend Information, Inc. 640,870 2,024,016 # Tripod Technology Corp. 1,882,660 3,722,718 # Tsann Kuen Enterprise Co., Ltd. 553,441 779,299 # TSC Auto ID Technology Co., Ltd. 65,000 413,850 TSRC Corp. 1,815,147 3,356,176 # Ttet Union Corp. 211,000 480,513 TTFB Co., Ltd. 25,000 244,944 # TTY Biopharm Co., Ltd. 542,539 2,112,912 # Tung Ho Steel Enterprise Corp. 5,086,645 4,561,167 # Tung Ho Textile Co., Ltd. 561,000 191,060 # Tung Thih Electronic Co., Ltd. 268,848 798,651 TURVO International Co., Ltd. 99,000 415,338 TXC Corp. 1,545,762 1,908,217 * TYC Brother Industrial Co., Ltd. 1,065,333 608,208 #* Tycoons Group Enterprise 2,870,121 571,891 * Tyntek Corp. 2,097,419 512,887 TZE Shin International Co., Ltd. 301,662 121,146 U-Ming Marine Transport Corp. 1,814,200 2,979,252 #* U-Tech Media Corp. 250,000 53,010 # Ubright Optronics Corp. 196,000 455,986 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- TAIWAN -- (Continued) Uni-President Enterprises Corp. 9,688,238 $18,449,600 # Unic Technology Corp. 245,439 98,106 # Unimicron Technology Corp. 7,381,563 5,838,280 #* Union Bank Of Taiwan 3,821,592 1,398,506 #* Union Insurance Co., Ltd. 309,397 237,409 Unitech Computer Co., Ltd. 261,365 124,785 #* Unitech Printed Circuit Board Corp. 3,194,921 1,372,232 United Integrated Services Co., Ltd. 1,168,800 1,290,637 # United Microelectronics Corp. 53,327,441 22,622,205 # Unity Opto Technology Co., Ltd. 1,734,276 1,358,444 Universal Cement Corp. 2,294,773 2,106,914 * Unizyx Holding Corp. 2,315,496 1,204,186 UPC Technology Corp. 4,317,471 2,086,420 # Userjoy Technology Co., Ltd. 107,000 177,252 USI Corp. 3,966,557 2,909,896 # Vanguard International Semiconductor Corp. 2,521,000 2,725,026 Ve Wong Corp. 642,524 541,951 #* Via Technologies, Inc. 1,294,549 1,058,688 Viking Tech Corp. 49,000 43,661 Visual Photonics Epitaxy Co., Ltd. 1,192,966 1,205,182 # Vivotek, Inc. 159,390 926,668 #* Wafer Works Corp. 2,105,000 1,136,196 * Waffer Technology Co., Ltd. 84,500 25,263 Wah Hong Industrial Corp. 327,280 350,982 Wah Lee Industrial Corp. 1,067,000 1,710,636 * Walsin Lihwa Corp. 21,240,307 6,584,261 * Walsin Technology Corp. 3,408,551 913,860 #* Walton Advanced Engineering, Inc. 1,725,662 616,301 Wan Hai Lines, Ltd. 4,323,026 2,329,665 # WAN HWA Enterprise Co. 451,575 229,912 Waterland Financial Holdings Co., Ltd. 5,971,594 2,053,944 # Ways Technical Corp., Ltd. 443,000 645,288 * WEI Chih Steel Industrial Co., Ltd. 383,000 63,329 # Wei Chuan Foods Corp. 1,485,000 2,812,422 #* Wei Mon Industry Co., Ltd. 2,067,674 678,839 Weikeng Industrial Co., Ltd. 1,049,450 778,315 # Well Shin Technology Co., Ltd. 395,443 673,337 Weltrend Semiconductor 1,119,848 1,071,365 Win Semiconductors Corp. 3,171,000 2,796,899 #* Winbond Electronics Corp. 18,382,000 4,639,958 #* Wintek Corp. 11,435,754 4,271,677 # Wisdom Marine Lines Co., Ltd. 1,037,190 1,244,622 # Wistron Corp. 11,994,746 11,260,974 Wistron NeWeb Corp. 1,195,194 2,878,596 WPG Holdings, Ltd. 6,193,041 7,532,593 WT Microelectronics Co., Ltd. 1,838,836 2,196,571 # WUS Printed Circuit Co., Ltd. 1,648,000 740,927 # X-Legend Entertainment Co., Ltd. 76,500 347,497 XAC Automation Corp. 351,000 481,835 # Xxentria Technology Materials Corp. 650,000 1,245,428 Yageo Corp. 8,593,800 2,926,889 * Yang Ming Marine Transport Corp. 9,012,157 3,996,568 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- -------------- TAIWAN -- (Continued) # YC INOX Co., Ltd. 2,002,691 $ 1,404,324 # YeaShin International Development Co., Ltd. 1,086,282 850,611 # Yem Chio Co., Ltd. 2,035,650 1,550,480 Yeong Guan Energy Technology Group Co., Ltd. 69,000 213,052 YFY, Inc. 7,727,997 4,101,170 #* Yi Jinn Industrial Co., Ltd. 1,304,020 354,348 * Yieh Phui Enterprise Co., Ltd. 6,076,789 1,922,308 YONYU PLASTICS Co., Ltd. COMMON STOCK TWD10. 20,000 31,706 # Young Fast Optoelectronics Co., Ltd. 836,137 917,807 # Young Optics, Inc. 314,214 656,861 # Youngtek Electronics Corp. 589,786 1,181,669 Yuanta Financial Holding Co., Ltd. 36,467,563 19,886,058 Yufo Electronics Co., Ltd. 108,000 71,350 Yulon Motor Co., Ltd. 4,475,715 7,900,100 Yung Chi Paint & Varnish Manufacturing Co., Ltd. 356,350 841,018 # Yungshin Construction & Development Co. 104,000 253,889 YungShin Global Holding Corp. 737,000 1,438,598 Yungtay Engineering Co., Ltd. 1,492,000 4,378,062 # Zeng Hsing Industrial Co., Ltd. 196,348 1,152,857 Zenitron Corp. 1,098,000 712,528 # Zhen Ding Technology Holding, Ltd. 736,150 1,726,505 #* Zig Sheng Industrial Co., Ltd. 2,761,638 991,609 Zinwell Corp. 1,593,979 1,716,489 # Zippy Technology Corp. 565,028 563,063 # ZongTai Real Estate Development Co., Ltd. 276,150 339,498 -------------- TOTAL TAIWAN 1,947,325,461 -------------- THAILAND -- (2.9%) AAPICO Hitech PCL 751,080 407,815 Advanced Info Service PCL 1,400,909 11,477,327 Airports of Thailand PCL 1,216,600 8,286,561 AJ Plast PCL 1,550,300 508,050 Amarin Printing & Publishing PCL 42,700 28,810 Amata Corp. PCL 2,698,100 1,482,330 AP Thailand PCL 7,499,160 1,313,106 * Asia Green Energy PCL 2,318,500 193,674 Asia Plus Securities PCL(B081WP3) 4,269,200 518,476 Asia Plus Securities PCL(B081Z10) 1,260,100 153,034 Asian Insulators PCL 1,124,600 563,655 Bangchak Petroleum PCL 3,597,700 3,843,326 Bangkok Aviation Fuel Services PCL 1,110,054 909,442 Bangkok Bank PCL(6368360) 1,218,500 8,064,610 Bangkok Bank PCL(6077019) 1,321,500 8,746,313 Bangkok Chain Hospital PCL 5,414,650 1,104,676 Bangkok Dusit Medical Services PCL 1,513,300 6,515,091 Bangkok Expressway PCL 1,998,000 2,326,988 Bangkok Insurance PCL 10,600 126,008 Bangkok Life Assurance PCL 1,454,000 2,943,036 * Bangkok Metro PCL 27,207,500 961,550 Bangkokland PCL(6712893) 2,802,700 154,880 Bangkokland PCL(6712912) 56,302,000 3,111,307 Bank of Ayudhya PCL(6359933) 5,569,500 6,844,446 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ----------- ----------- THAILAND -- (Continued) Bank of Ayudhya PCL(6075949) 1,966,800 $ 2,417,031 Banpu PCL 5,454,340 5,081,955 BEC World PCL 1,779,800 3,330,871 Berli Jucker PCL 1,575,900 2,518,908 Big C Supercenter PCL(6368434) 502,900 3,150,699 Big C Supercenter PCL(6763932) 304,900 1,910,217 Bumrungrad Hospital PCL 988,000 2,761,639 CalComp Electronics Thailand PCL 10,298,700 1,025,734 Central Pattana PCL 3,830,100 5,906,660 Central Plaza Hotel PCL 2,269,500 2,861,940 CH Karnchang PCL 3,123,100 2,227,560 Charoen Pokphand Foods PCL 10,693,100 8,348,348 Charoong Thai Wire & Cable PCL 1,034,400 348,954 Country Group Securities PCL 4,415,811 175,923 CP ALL PCL 5,278,700 6,656,674 CS Loxinfo PCL 1,168,700 416,789 Delta Electronics Thailand PCL 2,342,000 3,592,948 Dhipaya Insurance PCL 230,300 214,577 Diamond Building Products PCL 1,223,100 355,632 DSG International Thailand PCL 1,731,900 561,998 Dynasty Ceramic PCL 550,000 945,382 Eastern Water Resources Development and Management PCL 2,896,900 1,182,028 Electricity Generating PCL(6304643) 552,000 2,270,072 Electricity Generating PCL(6368553) 161,000 662,104 Erawan Group PCL (The) 5,620,000 852,254 Esso Thailand PCL 9,234,500 2,076,835 * G J Steel PCL 100,918,450 226,965 * G Steel PCL (Foreign) 22,734,200 102,258 * GFPT PCL 3,238,222 988,373 Glow Energy PCL 1,981,200 4,630,757 * GMM Grammy PCL 1,256,460 625,707 * Golden Land Property Development PCL(6368586) 816,400 204,592 * Golden Land Property Development PCL(6375296) 342,300 85,781 * Grand Canal Land PCL 3,924,900 378,304 * Grande Asset Hotels & Property PCL 886,200 33,882 Gunkul Engineering PCL 1,272,800 670,648 Hana Microelectronics PCL 1,680,357 1,230,912 Hemaraj Land and Development PCL(6710046) 374,400 41,861 Hemaraj Land and Development PCL(6710165) 21,216,200 2,372,125 Home Product Center PCL 8,533,767 3,180,456 ICC International PCL 51,000 65,542 Indorama Ventures PCL 8,123,700 6,525,060 IRPC PCL 43,168,490 4,965,243 * Italian-Thai Development PCL 11,803,719 2,218,530 * ITV PCL 183,700 6,197 Jasmine International PCL 9,740,800 2,644,490 Jaymart PCL 1,020,300 721,176 Jubilee Enterprise PCL 71,100 56,195 Kang Yong Electric PCL 500 3,984 Kasikornbank PCL(6364766) 1,909,600 11,656,996 Kasikornbank PCL(6888794) 1,478,800 9,217,259 KCE Electronics PCL 1,292,282 759,800 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- THAILAND -- (Continued) KGI Securities Thailand PCL 5,950,300 $ 550,582 Khon Kaen Sugar Industry PCL 3,570,200 1,445,286 Kiatnakin Bank PCL 2,548,607 3,418,613 Krung Thai Bank PCL 23,724,575 15,473,377 Krungthai Card PCL 115,200 126,766 Laguna Resorts & Hotels PCL 10,800 11,277 Lam Soon Thailand PCL 354,600 45,799 Land and Houses PCL(6581930) 3,326,700 1,175,701 Land and Houses PCL(6581941) 8,712,200 3,079,010 Lanna Resources PCL 1,360,950 542,194 LH Financial Group PCL 5,240,926 223,950 Loxley PCL 5,641,168 862,714 LPN Development PCL(B00PXK5) 301,300 211,999 LPN Development PCL(B00Q643) 2,768,800 1,948,168 Major Cineplex Group PCL 1,896,000 1,163,489 Maybank Kim Eng Securities Thailand PCL 188,700 137,016 MBK PCL 360,100 1,735,422 MCOT PCL 1,189,300 1,327,813 MCS Steel PCL 735,500 104,920 Minor International PCL 5,334,861 4,756,382 Modernform Group PCL 333,600 99,678 * Muang Thai Insurance PCL 1,300 3,728 Muramoto Electron Thailand PCL 7,400 35,247 * Nation Multimedia Group PCL 8,227,000 396,482 * Natural Park PCL 38,391,200 74,007 Nava Nakorn PCL 405,800 33,116 Noble Development PCL 15,100 5,142 * Padaeng Industry PCL 192,800 62,563 Polyplex Thailand PCL 2,084,400 683,080 Precious Shipping PCL 2,523,400 1,556,603 President Bakery PCL 1,800 2,704 Property Perfect PCL 16,937,200 593,142 Pruksa Real Estate PCL 5,612,600 4,021,236 PTT Exploration & Production PCL 3,954,569 21,408,671 PTT Global Chemical PCL 6,530,911 16,471,535 PTT PCL 2,845,280 28,978,434 Quality Houses PCL 20,670,775 2,018,929 * Raimon Land PCL 7,926,400 318,329 Ratchaburi Electricity Generating Holding PCL(6294249) 1,262,300 2,048,069 Ratchaburi Electricity Generating Holding PCL(6362771) 701,400 1,138,014 * Regional Container Lines PCL 1,777,100 376,831 Robinson Department Store PCL 1,464,000 2,481,157 Rojana Industrial Park PCL 3,591,000 882,607 RS PCL 1,669,300 458,555 Saha-Union PCL 630,900 770,255 * Sahaviriya Steel Industries PCL 53,566,780 636,778 Samart Corp. PCL 1,626,900 1,055,852 Samart I-Mobile PCL 5,665,600 622,533 Samart Telcoms PCL 1,308,900 710,696 Sansiri PCL 24,021,764 1,728,795 SC Asset Corp PCL 10,912,037 1,318,209 Siam Cement PCL(6609906) 129,300 1,827,855 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- THAILAND -- (Continued) Siam Cement PCL(6609928) 439,600 $ 6,044,941 Siam City Cement PCL(6363194) 19,700 251,907 Siam City Cement PCL(6806387) 287,500 3,676,305 Siam Commercial Bank PCL 2,266,369 11,978,079 * Siam Commercial Samaggi Insurance PCL (The) 38,300 27,071 Siam Future Development PCL 3,527,634 753,695 Siam Global House PCL 3,465,233 2,126,456 Siamgas & Petrochemicals PCL 2,273,000 1,007,788 Singer Thailand PCL 40,600 26,871 Sino Thai Engineering & Construction PCL 2,399,571 1,788,596 SNC Former PCL 472,000 298,744 Somboon Advance Technology PCL 1,197,625 631,038 * SPCG PCL 1,089,100 804,797 Sri Ayudhya Capital PCL 193,100 146,415 Sri Trang Agro-Industry PCL 3,280,400 1,422,824 Srithai Superware PCL 797,500 471,454 * Stars Microelectronics Thailand PCL 663,900 165,308 STP & I PCL 1,976,512 1,289,099 Supalai PCL 3,551,200 2,019,478 Susco PCL 2,397,300 288,061 * SVI PCL 4,312,428 512,642 Symphony Communication PCL 241,800 99,439 * Tata Steel Thailand PCL 10,062,300 274,794 Thai Airways International PCL 5,893,337 3,843,686 Thai Carbon Black PCL 157,300 113,458 Thai Central Chemical PCL 192,400 173,083 Thai Factory Development PCL 1,959,380 560,273 Thai Metal Trade PCL 396,500 146,498 Thai Oil PCL 3,564,200 7,214,284 Thai Rayon PCL 20,400 19,663 * Thai Reinsurance PCL(6609575) 1,452,466 183,862 * Thai Reinsurance PCL(6609995) 3,587,433 454,120 Thai Rung Union Car PCL 439,000 96,615 Thai Stanley Electric PCL(B01GKK6) 150,500 1,112,129 Thai Stanley Electric PCL(B01GKM8) 5,600 41,382 Thai Tap Water Supply PCL 7,950,500 2,631,009 Thai Union Frozen Products PCL 1,981,190 3,580,464 Thai Vegetable Oil PCL 2,047,125 1,197,034 Thai-German Ceramic PCL 2,362,200 258,040 Thaicom PCL 1,933,800 2,469,672 Thanachart Capital PCL 3,772,300 4,181,345 Thitikorn PCL 686,600 253,684 * Thoresen Thai Agencies PCL 2,601,308 1,479,298 Ticon Industrial Connection PCL 2,395,687 1,370,064 Tipco Asphalt PCL 592,100 1,131,886 * TIPCO Foods PCL 1,182,000 356,973 Tisco Financial Group PCL(B3KFW10) 284,790 402,595 Tisco Financial Group PCL(B3KFW76) 1,942,300 2,745,741 TMB Bank PCL 63,445,913 5,585,279 Total Access Communication PCL(B1YWK08) 1,654,500 5,980,120 Total Access Communication PCL(B231MK7) 200,000 722,892 Toyo-Thai Corp. PCL(B5ML0B6) 598,900 740,808 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ------------ THAILAND -- (Continued) Toyo-Thai Corp. PCL(B5ML0D8) 186,400 $ 230,567 TPI Polene PCL 5,338,261 2,212,484 * True Corp. PCL 18,601,515 5,289,105 Union Mosaic Industry PCL 1,494,550 494,582 Unique Engineering & Construction PCL 2,201,700 580,046 Univanich Palm Oil PCL 477,000 163,981 Univentures PCL 4,857,800 1,209,573 Vanachai Group PCL 2,267,900 204,020 Vibhavadi Medical Center PCL 2,838,480 911,961 Vinythai PCL 2,320,500 872,284 Workpoint Entertainment PCL 560,700 594,477 ------------ TOTAL THAILAND 415,125,485 ------------ TURKEY -- (2.1%) Adana Cimento Sanayii TAS Class A 364,012 745,704 Adel Kalemcilik Ticaret ve Sanayi A.S. 19,112 559,603 * Adese Alisveris Merkezleri Ticaret A.S. 21,301 93,733 # Akbank TAS 5,470,696 21,382,862 Akcansa Cimento A.S. 266,813 1,490,345 #* Akenerji Elektrik Uretim A.S. 1,703,269 1,140,929 #* Akfen Holding A.S. 575,922 1,249,440 Aksa Akrilik Kimya Sanayii 706,630 2,914,472 Aksigorta A.S. 858,752 1,194,897 Alarko Holding A.S. 652,434 1,930,238 * Albaraka Turk Katilim Bankasi A.S. 2,195,542 1,953,341 Alkim Alkali Kimya A.S. 35,326 227,870 #* Altinyildiz Mensucat ve Konfeksiyon Fabrikalari A.S. 81,444 2,028,470 #* Anadolu Anonim Tuerk Sigorta Sirketi 1,447,850 956,390 # Anadolu Cam Sanayii A.S. 772,823 938,436 Anadolu Efes Biracilik Ve Malt Sanayii A.S. 542,634 6,910,321 Anadolu Hayat Emeklilik A.S. 282,207 691,410 #* Anadolu Isuzu Otomotiv Sanayi Ve Ticaret A.S. 31,338 323,116 # Arcelik A.S. 960,321 6,115,376 # Aselsan Elektronik Sanayi Ve Ticaret A.S. 257,286 1,213,052 #* Asya Katilim Bankasi A.S. 3,714,712 3,763,613 # Aygaz A.S. 271,764 1,237,092 # Bagfas Bandirma Gubre Fabrik 23,761 498,751 #* Banvit Bandirma Vitaminli Yem Sanayii ASA 217,870 316,261 * Baticim Bati Anadolu Cimento Sanayii A.S. 191,689 633,196 #* Besiktas Futbol Yatirimlari Sanayi ve Ticaret A.S. 550,859 653,119 # BIM Birlesik Magazalar A.S. 379,389 7,937,537 Bizim Toptan Satis Magazalari A.S. 135,799 1,630,097 Bolu Cimento Sanayii A.S. 299,793 428,091 Borusan Mannesmann Boru Sanayi ve Ticaret A.S. 78,071 1,283,697 * Bosch Fren Sistemleri 584 40,828 * Boyner Buyuk Magazacilik 26,977 129,497 Brisa Bridgestone Sabanci Sanayi ve Ticaret A.S. 237,175 696,825 Bursa Cimento Fabrikasi A.S. 121,422 268,907 # Celebi Hava Servisi A.S. 24,995 178,942 Cimsa Cimento Sanayi VE Tica 272,673 1,763,352 Coca-Cola Icecek A.S. 119,720 3,423,758 #* Deva Holding A.S. 424,174 447,292 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- TURKEY -- (Continued) Dogan Gazetecilik A.S. 57,657 $ 46,993 #* Dogan Sirketler Grubu Holding A.S. 5,628,221 2,532,535 #* Dogan Yayin Holding A.S. 2,670,868 920,046 # Dogus Otomotiv Servis ve Ticaret A.S. 501,655 2,401,804 * Dyo Boya Fabrikalari Sanayi ve Ticaret A.S. 450,015 404,409 * Eczacibasi Yapi Gerecleri Sanayi ve Ticaret A.S. 150,885 330,137 # Eczacibasi Yatirim Holding Ortakligi A.S. 329,650 1,057,854 EGE Seramik Sanayi ve Ticaret A.S. 606,226 813,305 EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret A.S. 1,588,556 2,010,351 # Enka Insaat ve Sanayi A.S. 1,734,517 5,071,524 Eregli Demir ve Celik Fabrikalari TAS 8,596,663 11,886,228 # Fenerbahce Futbol A.S. 29,511 514,814 Ford Otomotiv Sanayi A.S. 173,555 2,436,535 #* Galatasaray Sportif Sinai ve Ticari Yatirimlar A.S. 19,620 309,917 Gentas Genel Metal Sanayi ve Ticaret A.S. 341,725 198,320 Global Yatirim Holding A.S. 1,581,815 1,091,633 Goldas Kuyumculuk Sanayi Ithalat ve Ihracat A.S. 61,429 6,462 # Goltas Goller Bolgesi Cimento Sanayi ve Ticaret A.S. 28,701 820,475 Goodyear Lastikleri TAS 20,177 632,417 * Gozde Girisim Sermayesi Yatirim Ortakligi A.S. 423,927 1,278,240 * GSD Holding 1,902,977 1,197,761 * Gubre Fabrikalari TAS 162,922 1,361,785 * Gunes Sigorta 249,174 235,634 #* Hurriyet Gazetecilik A.S. 1,046,425 396,854 #* Ihlas EV Aletleri 383,614 114,989 #* Ihlas Holding A.S. 6,453,197 2,388,334 #* Ihlas Madencilik A.S. 143,504 515,144 Indeks Bilgisayar Sistemleri Muhendislik Sanayi ve Ticaret A.S. 88,652 179,642 #* Ipek Dogal Enerji Kaynaklari Ve Uretim A.S. 594,343 1,504,985 * Is Finansal Kiralama A.S. 715,178 350,542 Is Yatirim Menkul Degerler A.S. Class A 176,359 127,147 * Isiklar Yatirim Holding A.S. 1 -- #* Izmir Demir Celik Sanayi A.S. 370,825 511,624 * Kardemir Karabuk Demir Celik Sanayi ve Ticaret A.S. Class A 1,057,590 1,023,104 * Kardemir Karabuk Demir Celik Sanayi ve Ticaret A.S. Class B 522,824 1,133,841 #* Kardemir Karabuk Demir Celik Sanayi ve Ticaret A.S. Class D 4,618,720 2,901,072 #* Karsan Otomotiv Sanayii Ve Ticaret A.S. 1,790,184 1,061,261 # Kartonsan Karton Sanayi ve Ticaret A.S. 8,254 1,039,928 #* Kerevitas Gida Sanayi ve Ticaret A.S. 6,569 119,317 KOC Holding A.S. 1,933,681 9,470,709 # Konya Cimento Sanayii A.S. 4,370 634,893 Kordsa Global Endustriyel Iplik ve Kord Bezi Sanayi ve Ticaret A.S. 269,083 487,952 Koza Altin Isletmeleri A.S. 70,035 1,238,864 * Koza Anadolu Metal Madencilik Isletmeleri A.S. 1,358,132 2,947,225 Mardin Cimento Sanayii ve Ticaret A.S. 180,849 411,298 * Marshall Boya ve Vernik 14,784 328,844 * Marti Otel Isletmeleri A.S. 1 -- * Menderes Tekstil Sanayi ve Ticaret A.S. 607,410 160,791 * Metro Ticari ve Mali Yatirimlar Holding A.S. 674,137 225,873 * Migros Ticaret A.S. 168,332 1,495,609 #* Mondi Tire Kutsan Kagit Ve Ambalaj Sanayii A.S. 192,675 113,619 Mutlu Aku ve Malzemeleri Sanayi AS 93,037 337,301 EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- --------------- TURKEY -- (Continued) * Mutlu Yatirim Proje ve Gayrimenkul Gelistirme AS 5,421 $ 69,311 # NET Holding A.S. 989,806 1,180,748 #* Net Turizm Ticaret ve Sanayi SA 749,755 329,745 # Netas Telekomunikasyon A.S. 132,095 491,134 Nuh Cimento Sanayi A.S. 187,430 1,052,891 Otokar Otomotiv Ve Savunma Sanayi A.S. 63,131 2,038,153 #* Park Elektrik Uretim Madencilik Sanayi ve Ticaret A.S. 381,183 1,100,106 #* Petkim Petrokimya Holding A.S. 2,888,600 4,546,970 Pinar Entegre Et ve Un Sanayi A.S. 80,971 312,081 Pinar SUT Mamulleri Sanayii A.S. 106,598 923,507 * Polyester Sanayi A.S. 991,441 549,826 * Reysas Tasimacilik ve Lojistik Ticaret A.S. 1 -- Sarkuysan Elektrolitik Bakir Sanayi ve Ticaret A.S. 202,914 310,028 * Sekerbank TAS 2,402,306 2,272,972 Selcuk Ecza Deposu Ticaret ve Sanayi A.S. 967,841 963,065 Soda Sanayii A.S. 437,050 577,389 * Soktas Tekstil Sanayi ve Ticaret A.S. 1 2 * TAT Konserve Sanayii A.S. 761,950 974,990 # TAV Havalimanlari Holding A.S. 608,409 4,402,264 Tekfen Holding A.S. 1,337,463 3,216,940 #* Tekstil Bankasi A.S. 1,044,262 803,587 Tofas Turk Otomobil Fabrikasi A.S. 369,912 2,445,447 # Trakya Cam Sanayi A.S. 3,017,320 3,737,341 Tupras Turkiye Petrol Rafinerileri A.S. 335,633 7,586,794 Turcas Petrol A.S. 486,788 763,733 Turk Hava Yollari 2,618,353 10,209,431 # Turk Telekomunikasyon A.S. 657,854 2,266,920 Turk Traktor ve Ziraat Makineleri A.S. 80,694 2,654,744 #* Turkcell Iletisim Hizmetleri A.S. 1,006,928 6,248,623 #* Turkcell Iletisim Hizmetleri A.S. ADR 293,927 4,597,018 Turkiye Garanti Bankasi A.S. 6,467,116 25,932,037 Turkiye Halk Bankasi A.S. 1,749,228 14,055,503 Turkiye Is Bankasi 4,819,568 13,166,492 Turkiye Sinai Kalkinma Bankasi A.S. 5,468,837 5,326,067 Turkiye Sise ve Cam Fabrikalari A.S. 3,026,749 4,441,319 # Turkiye Vakiflar Bankasi Tao 3,721,690 8,905,047 # Ulker Biskuvi Sanayi A.S. 348,894 2,661,438 * Uzel Makina Sanayii A.S. 63,028 -- #* Vestel Beyaz Esya Sanayi ve Ticaret A.S. 402,919 598,455 #* Vestel Elektronik Sanayi ve Ticaret A.S. 1,147,392 1,174,826 * Yapi Kredi Sigorta A.S. 80,003 753,394 # Yapi ve Kredi Bankasi A.S. 2,660,478 6,140,709 #* Zorlu Enerji Elektrik Uretim A.S. 1,270,253 838,413 --------------- TOTAL TURKEY 298,790,261 --------------- UNITED STATES -- (0.0%) Bizlink Holding, Inc. 28,000 126,755 --------------- TOTAL COMMON STOCKS 12,626,853,880 --------------- EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ------------ PREFERRED STOCKS -- (1.9%) BRAZIL -- (1.8%) AES Tiete SA 413,306 $ 4,050,726 Alpargatas SA 508,200 3,502,233 Banco ABC Brasil SA 504,706 3,105,738 Banco Bradesco SA 1,955,373 28,170,931 Banco Daycoval SA 118,494 471,434 Banco do Estado do Rio Grande do Sul SA Class B 951,320 6,852,865 Banco Industrial e Comercial SA 306,755 1,026,974 * Banco Panamericano SA 580,500 1,370,989 Banco Pine SA 114,800 538,959 Banco Sofisa SA 85,800 105,758 * Battistella Adm Participacoes SA 22,700 10,023 * Bombril SA 5,400 15,008 * Braskem SA Class A 185,000 1,634,515 Centrais Eletricas Brasileiras SA Class B 795,800 4,127,249 * Centrais Eletricas de Santa Catarina SA 60,363 480,752 Cia Brasileira de Distribuicao Grupo Pao de Acucar 156,820 7,790,830 Cia de Bebidas das Americas 236,544 8,800,343 Cia de Gas de Sao Paulo Class A 107,995 2,860,253 Cia de Saneamento do Parana 96,300 296,583 * Cia de Transmissao de Energia Eletrica Paulista 168,100 2,397,931 Cia Energetica de Minas Gerais 514,211 4,574,692 Cia Energetica de Sao Paulo Class B 774,714 8,087,600 Cia Energetica do Ceara Class A 129,325 2,277,415 Cia Ferro Ligas da Bahia--Ferbasa 188,982 1,155,034 Cia Paranaense de Energia 164,260 2,296,383 Eletropaulo Metropolitana Eletricidade de Sao Paulo SA 636,586 2,832,086 * Empresa Metropolitana de Aguas e Energia SA 6,100 15,609 Eucatex SA Industria e Comercio 79,759 239,160 Forjas Taurus SA 389,623 375,232 Fras-Le Middle East Class A 4,800 11,841 Gerdau SA 706,915 5,578,345 * Gol Linhas Aereas Inteligentes SA 390,766 1,969,660 * Inepar SA Industria e Construcoes 215,950 107,723 Itau Unibanco Holding SA 2,951,785 45,672,482 Klabin SA 2,273,433 12,089,436 Lojas Americanas SA 1,167,728 8,679,786 Marcopolo SA 1,717,918 4,428,798 Oi SA 226,779 379,187 Parana Banco SA 45,100 287,150 Petroleo Brasileiro SA 2,057,872 18,658,969 Randon Participacoes SA 1,171,756 6,645,429 Saraiva SA Livreiros Editores 147,064 1,866,898 Suzano Papel e Celulose SA Class A 1,857,899 7,503,893 Telefonica Brasil SA 225,198 4,947,094 Unipar Participacoes SA Class B 1,538,997 328,575 * Usinas Siderurgicas de Minas Gerais SA Class A 2,420,058 12,790,670 Vale SA 1,584,928 23,198,879 Whirlpool SA 36,486 71,352 ------------ TOTAL BRAZIL 254,679,472 ------------ EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ------------ CHILE -- (0.0%) Coca-Cola Embonor SA Class B 676 $ 1,707 Embotelladora Andina SA 139,928 594,413 Embotelladora Andina SA Class B 212,801 1,197,654 Sociedad Quimica y Minera de Chile SA Class B 11,313 317,685 ------------ TOTAL CHILE 2,111,459 ------------ COLOMBIA -- (0.1%) Avianca Holdings SA 239,032 536,207 Banco Davivienda SA 374,893 4,917,084 Grupo Aval Acciones y Valores 2,403,990 1,670,540 Grupo de Inversiones Suramericana SA 59,885 1,189,884 ------------ TOTAL COLOMBIA 8,313,715 ------------ TOTAL PREFERRED STOCKS 265,104,646 ------------ RIGHTS/WARRANTS -- (0.0%) BRAZIL -- (0.0%) * Cia de Saneamento do Parana Rights 11/19/13 14,544 -- * LLX Logistica SA Rights 11/12/13 676,438 6,039 * Refinaria de Petroleos de Manguinhos SA Rights 01/02/14 188,676 5,896 ------------ TOTAL BRAZIL 11,935 ------------ CHILE -- (0.0%) * Salfacorp SA Rights 11/08/13 53,082 31 ------------ MALAYSIA -- (0.0%) * Malaysian Resources Corp. Bhd Warrants 09/16/18 2,159,439 174,504 ------------ POLAND -- (0.0%) * Polimex-Mostostal SA Rights 2,510,058 -- ------------ SOUTH KOREA -- (0.0%) * Hanwha General Insurance Co., Ltd. Rights 11/08/13 55,678 15,747 * Hyundai Merchant Marine Co., Ltd. Rights 11/05/13 16,155 -- ------------ TOTAL SOUTH KOREA 15,747 ------------ THAILAND -- (0.0%) * G J Steel PCL Rights 02/07/20 5,733,585 36,842 ------------ TOTAL RIGHTS/WARRANTS 239,059 ------------ EMERGING MARKETS CORE EQUITY PORTFOLIO CONTINUED SHARES/ FACE AMOUNT (000) VALUE+ ------------ --------------- SECURITIES LENDING COLLATERAL -- (9.7%) (S)@ DFA Short Term Investment Fund 118,582,541 1,372,000,000 @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $12,370,390 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $11,186,777) to be repurchased at $10,967,465 $ 10,967 10,967,428 --------------- TOTAL SECURITIES LENDING COLLATERAL 1,382,967,428 --------------- TOTAL INVESTMENTS -- (100.0%) (Cost $13,051,760,683) $14,275,165,013 =============== THE U.S. LARGE CAP VALUE SERIES SCHEDULE OF INVESTMENTS October 31, 2013 Shares Value+ ---------- -------------- COMMON STOCKS -- (95.9%) Consumer Discretionary -- (12.1%) # Autoliv, Inc. 27,263 $ 2,432,677 Best Buy Co., Inc. 18,980 812,344 Carnival Corp. 2,385,423 82,654,907 CBS Corp. Class A 7,236 427,720 Comcast Corp. Class A 10,008,890 476,222,986 Comcast Corp. Special Class A 3,819,364 176,836,553 Dillard's, Inc. Class A 112,692 9,238,490 # DR Horton, Inc. 379,593 7,193,287 # GameStop Corp. Class A 598,147 32,790,419 * General Motors Co. 3,555,515 131,376,279 #* Hyatt Hotels Corp. Class A 26,622 1,267,207 # Kohl's Corp. 365,799 20,777,383 Lear Corp. 57,952 4,484,905 # Lennar Corp. Class A 203,031 7,217,752 # Lennar Corp. Class B 4,312 127,075 * Liberty Interactive Corp. Class A 2,586,058 69,720,124 * Liberty Media Corp. Class A 70,372 10,760,583 * Liberty Ventures Series A 122,067 13,106,334 #* MGM Resorts International 2,389,018 45,486,903 * Mohawk Industries, Inc. 365,371 48,382,428 * Murphy USA, Inc. 60,913 2,471,850 * News Corp. Class A 155,956 2,744,826 * News Corp. Class B 31,823 570,586 #* Penn National Gaming, Inc. 286,620 16,770,136 PVH Corp. 26,577 3,310,697 Royal Caribbean Cruises, Ltd. 1,043,290 43,859,912 #* Sears Holdings Corp. 530,407 30,806,039 Service Corp. International/US 219,283 3,949,287 # Staples, Inc. 1,418,648 22,868,606 Time Warner Cable, Inc. 1,876,119 225,415,698 Time Warner, Inc. 4,974,348 341,936,681 * Toll Brothers, Inc. 329,804 10,843,955 # Washington Post Co. (The) Class B 32,261 20,754,146 -------------- Total Consumer Discretionary 1,867,618,775 -------------- Consumer Staples -- (7.2%) Archer-Daniels-Midland Co. 3,189,248 130,440,243 Beam, Inc. 61,513 4,139,825 # Bunge, Ltd. 553,069 45,423,557 * Constellation Brands, Inc. Class A 470,339 30,713,137 CVS Caremark Corp. 7,147,441 444,999,677 JM Smucker Co. (The) 539,640 60,013,364 Molson Coors Brewing Co. Class B 763,563 41,232,402 Mondelez International, Inc. Class A 9,025,752 303,626,297 # Safeway, Inc. 196,076 6,843,052 # Tyson Foods, Inc. Class A 1,426,374 39,467,769 -------------- Total Consumer Staples 1,106,899,323 -------------- Energy -- (19.9%) Anadarko Petroleum Corp. 2,511,077 239,280,527 THE U.S. LARGE CAP VALUE SERIES CONTINUED Shares Value+ ---------- -------------- Energy -- (Continued) Apache Corp. 1,526,796 $ 135,579,485 #* Atwood Oceanics, Inc. 4,143 220,118 Baker Hughes, Inc. 1,673,042 97,187,010 # Chesapeake Energy Corp. 3,251,150 90,902,154 Chevron Corp. 4,348,879 521,691,525 Cimarex Energy Co. 44,015 4,636,980 ConocoPhillips 6,993,622 512,632,493 #* Denbury Resources, Inc. 1,418,579 26,938,815 Devon Energy Corp. 1,479,247 93,517,995 # Helmerich & Payne, Inc. 515,834 40,002,927 Hess Corp. 1,606,476 130,445,851 HollyFrontier Corp. 271,670 12,513,120 Marathon Oil Corp. 3,640,872 128,377,147 Marathon Petroleum Corp. 1,791,952 128,411,280 Murphy Oil Corp. 728,510 43,943,723 Nabors Industries, Ltd. 1,355,841 23,700,101 National Oilwell Varco, Inc. 1,816,355 147,451,699 * Newfield Exploration Co. 17,702 539,026 Noble Corp. 660,905 24,916,118 Occidental Petroleum Corp. 1,521,584 146,193,791 # Patterson-UTI Energy, Inc. 732,485 17,770,086 # Peabody Energy Corp. 99,715 1,942,448 Phillips 66 2,926,797 188,573,531 Pioneer Natural Resources Co. 103,767 21,249,406 QEP Resources, Inc. 436,302 14,424,144 * Rowan Cos. P.L.C. Class A 595,894 21,499,856 * Superior Energy Services, Inc. 56,288 1,510,207 Tesoro Corp. 605,336 29,594,877 Tidewater, Inc. 227,025 13,671,446 # Transocean, Ltd. 1,280,391 60,268,004 Valero Energy Corp. 2,806,975 115,563,161 #* Weatherford International, Ltd. 1,408,739 23,159,669 * Whiting Petroleum Corp. 151,243 10,116,644 * WPX Energy, Inc. 32,758 725,262 -------------- Total Energy 3,069,150,626 -------------- Financials -- (23.9%) * Alleghany Corp. 666 270,010 Allied World Assurance Co. Holdings AG 188,355 20,396,963 * American Capital, Ltd. 802,500 11,243,025 American Financial Group, Inc. 491,543 27,654,209 American International Group, Inc. 8,251,823 426,206,658 American National Insurance Co. 70,315 7,106,737 Assurant, Inc. 396,269 23,173,811 Assured Guaranty, Ltd. 29,746 609,793 Axis Capital Holdings, Ltd. 613,817 29,107,202 Bank of America Corp. 39,239,978 547,790,093 Bank of New York Mellon Corp. (The) 3,633,937 115,559,197 Capital One Financial Corp. 1,875,702 128,804,456 Citigroup, Inc. 10,998,186 536,491,513 CME Group, Inc. 1,618,207 120,087,142 CNA Financial Corp. 533,469 21,653,507 THE U.S. LARGE CAP VALUE SERIES CONTINUED Shares Value+ --------- -------------- Financials -- (Continued) * E*TRADE Financial Corp. 76,389 $ 1,291,738 Everest Re Group, Ltd. 167,110 25,691,492 First Niagara Financial Group, Inc. 53,740 592,752 * Genworth Financial, Inc. Class A 2,390,330 34,731,495 Goldman Sachs Group, Inc. (The) 207,016 33,300,594 Hartford Financial Services Group, Inc. 2,129,813 71,774,698 Hudson City Bancorp, Inc. 71,664 643,543 JPMorgan Chase & Co. 5,379,341 277,251,235 KeyCorp 1,914,825 23,992,757 # Legg Mason, Inc. 659,937 25,387,776 Leucadia National Corp. 99,168 2,810,421 Lincoln National Corp. 1,442,787 65,516,958 Loews Corp. 2,050,343 99,052,070 MetLife, Inc. 5,110,004 241,754,289 Morgan Stanley 7,883,626 226,496,575 # NASDAQ OMX Group, Inc. (The) 815,514 28,893,661 Old Republic International Corp. 1,047,684 17,590,614 PartnerRe, Ltd. 193,939 19,434,627 # People's United Financial, Inc. 138,880 2,004,038 # Principal Financial Group, Inc. 94,439 4,482,075 Prudential Financial, Inc. 2,327,738 189,454,596 Regions Financial Corp. 5,807,266 55,923,972 Reinsurance Group of America, Inc. 363,743 25,891,227 SunTrust Banks, Inc. 2,631,702 88,530,455 Unum Group 1,374,339 43,621,520 Validus Holdings, Ltd. 162,943 6,432,990 XL Group P.L.C. 1,435,288 43,876,754 # Zions BanCorp. 777,171 22,048,341 -------------- Total Financials 3,694,627,579 -------------- Health Care -- (7.7%) Aetna, Inc. 2,027,401 127,118,043 * Bio-Rad Laboratories, Inc. Class A 1,222 150,941 * Boston Scientific Corp. 6,689,559 78,200,945 * CareFusion Corp. 917,825 35,584,075 Cigna Corp. 335,579 25,832,871 Community Health Systems, Inc. 12,853 560,776 * Express Scripts Holding Co. 2,283,090 142,738,787 * Forest Laboratories, Inc. 437,448 20,573,180 #* Hologic, Inc. 1,229,548 27,529,580 Humana, Inc. 699,478 64,456,898 Omnicare, Inc. 574,710 31,695,257 PerkinElmer, Inc. 125,473 4,772,993 Pfizer, Inc. 7,744,869 237,612,581 # Teleflex, Inc. 91,713 8,454,104 Thermo Fisher Scientific, Inc. 1,932,026 188,913,502 UnitedHealth Group, Inc. 475,396 32,450,531 WellPoint, Inc. 1,824,634 154,728,963 -------------- Total Health Care 1,181,374,027 -------------- Industrials -- (11.7%) # ADT Corp. (The) 686,732 29,783,567 THE U.S. LARGE CAP VALUE SERIES CONTINUED Shares Value+ ---------- -------------- Industrials -- (Continued) * AECOM Technology Corp. 9,284 $ 295,046 AGCO Corp. 253,578 14,803,884 #* CNH Industrial NV 25,391 297,836 CSX Corp. 5,687,103 148,205,904 Eaton Corp. P.L.C. 1,993,999 140,696,569 #* Engility Holdings, Inc. 52,752 1,633,729 FedEx Corp. 759,707 99,521,617 Fortune Brands Home & Security, Inc. 264,578 11,398,020 General Electric Co. 17,056,602 445,859,576 * Genesee & Wyoming, Inc. Class A 300 29,952 * Hertz Global Holdings, Inc. 1,017,021 23,350,802 * Jacobs Engineering Group, Inc. 103,271 6,280,942 # KBR, Inc. 49,346 1,704,411 # Kennametal, Inc. 20,362 936,652 L-3 Communications Holdings, Inc. 407,736 40,957,081 Manpowergroup, Inc. 17,135 1,338,243 Norfolk Southern Corp. 1,681,939 144,680,393 Northrop Grumman Corp. 1,364,645 146,712,984 * Owens Corning 579,048 20,805,195 Pentair, Ltd. 496,227 33,291,869 * Quanta Services, Inc. 554,686 16,757,064 Regal-Beloit Corp. 6,550 480,312 Republic Services, Inc. 1,137,001 38,055,423 Southwest Airlines Co. 3,905,821 67,258,238 SPX Corp. 22,870 2,074,538 Stanley Black & Decker, Inc. 574,963 45,473,824 Trinity Industries, Inc. 16,136 816,966 Triumph Group, Inc. 82,311 5,897,583 Union Pacific Corp. 1,891,022 286,300,731 #* United Rentals, Inc. 73,167 4,725,857 URS Corp. 378,541 20,524,493 #* WESCO International, Inc. 7,079 604,971 -------------- Total Industrials 1,801,554,272 -------------- Information Technology -- (5.6%) Activision Blizzard, Inc. 2,620,144 43,599,196 * Arrow Electronics, Inc. 568,882 27,317,714 Avnet, Inc. 711,662 28,252,981 Computer Sciences Corp. 382,606 18,847,172 Corning, Inc. 5,599,861 95,701,624 Fidelity National Information Services, Inc. 1,328,465 64,762,669 #* First Solar, Inc. 23,146 1,163,549 Hewlett-Packard Co. 9,295,748 226,537,379 * Ingram Micro, Inc. Class A 741,670 17,184,494 Jabil Circuit, Inc. 21,310 444,527 * Juniper Networks, Inc. 731,008 13,625,989 * Lam Research Corp. 152,965 8,295,292 # Leidos Holdings, Inc. 43,539 2,050,228 Marvell Technology Group, Ltd. 161,815 1,941,780 #* Micron Technology, Inc. 3,654,213 64,606,486 Molex, Inc. 12,162 469,453 Molex, Inc. Class A 1,663 64,025 THE U.S. LARGE CAP VALUE SERIES CONTINUED Shares Value+ ----------- --------------- Information Technology -- (Continued) # NVIDIA Corp. 427,944 $ 6,496,190 SanDisk Corp. 4,626 321,507 # Science Applications International Corp. 20,933 737,888 Western Digital Corp. 902,209 62,820,813 Xerox Corp. 5,553,084 55,197,655 * Yahoo!, Inc. 3,936,872 129,641,195 --------------- Total Information Technology 870,079,806 --------------- Materials -- (3.1%) # Alcoa, Inc. 5,212,834 48,322,971 Ashland, Inc. 376,837 34,876,264 Freeport-McMoRan Copper & Gold, Inc. 3,340,516 122,797,368 International Paper Co. 2,043,676 91,168,386 MeadWestvaco Corp. 848,260 29,561,861 Mosaic Co. (The) 407,332 18,676,172 Newmont Mining Corp. 381,443 10,398,136 # Nucor Corp. 710,746 36,795,321 Reliance Steel & Aluminum Co. 363,907 26,670,744 Rock Tenn Co. Class A 104,397 11,171,523 Sealed Air Corp. 244,806 7,388,245 Steel Dynamics, Inc. 893,527 16,056,680 # Vulcan Materials Co. 576,439 30,868,309 Westlake Chemical Corp. 1,021 109,676 --------------- Total Materials 484,861,656 --------------- Telecommunication Services -- (4.4%) AT&T, Inc. 14,518,387 525,565,609 # CenturyLink, Inc. 2,353,137 79,677,219 # Frontier Communications Corp. 1,836,528 8,099,088 #* Sprint Corp. 3,652,160 24,579,037 T-Mobile US, Inc. 726,568 20,147,731 Telephone & Data Systems, Inc. 216,662 6,755,521 # United States Cellular Corp. 261,250 12,644,500 # Windstream Holdings, Inc. 90,929 777,443 --------------- Total Telecommunication Services 678,246,148 --------------- Utilities -- (0.3%) NRG Energy, Inc. 1,633,752 46,610,945 UGI Corp. 22,730 940,340 --------------- Total Utilities 47,551,285 --------------- TOTAL COMMON STOCKS 14,801,963,497 --------------- TEMPORARY CASH INVESTMENTS -- (0.7%) State Street Institutional Liquid Reserves, 0.073% 110,063,812 110,063,812 --------------- THE U.S. LARGE CAP VALUE SERIES CONTINUED Shares/ Face Amount (000) Value+ ---------- --------------- SECURITIES LENDING COLLATERAL -- (3.4%) (S)@ DFA Short Term Investment Fund 45,096,723 $ 521,769,090 --------------- TOTAL INVESTMENTS -- (100.0%) (Cost $10,087,346,593) $15,433,796,399 =============== THE DFA INTERNATIONAL VALUE SERIES SCHEDULE OF INVESTMENTS October 31, 2013 Shares Value++ --------- ------------ COMMON STOCKS -- (92.1%) AUSTRALIA -- (4.6%) * Alumina, Ltd. 4,595,906 $ 4,468,458 #* Alumina, Ltd. Sponsored ADR 172,484 669,238 Asciano, Ltd. 2,517,032 13,823,151 # Bank of Queensland, Ltd. 683,233 7,793,936 Bendigo and Adelaide Bank, Ltd. 975,485 10,042,414 * BlueScope Steel, Ltd. 855,334 4,034,507 # Boral, Ltd. 1,866,266 8,708,191 Caltex Australia, Ltd. 18,966 331,395 Downer EDI, Ltd. 337,397 1,567,544 Echo Entertainment Group, Ltd. 1,832,302 4,598,756 GrainCorp, Ltd. Class A 367,914 4,289,587 # Harvey Norman Holdings, Ltd. 1,068,950 3,289,338 Incitec Pivot, Ltd. 4,346,760 10,936,119 # Leighton Holdings, Ltd. 88,621 1,501,311 Lend Lease Group 869,454 9,376,079 Macquarie Group, Ltd. 735,198 35,362,719 # Metcash, Ltd. 287,685 910,413 National Australia Bank, Ltd. 178,885 5,978,487 # New Hope Corp., Ltd. 69,375 247,575 # Newcrest Mining, Ltd. 1,061,347 10,291,542 Origin Energy, Ltd. 2,782,880 38,471,819 # OZ Minerals, Ltd. 498,564 1,699,375 # Primary Health Care, Ltd. 601,739 2,807,367 #* Qantas Airways, Ltd. 3,249,999 3,820,906 QBE Insurance Group, Ltd. 352,524 4,936,845 Rio Tinto, Ltd. 120,548 7,253,637 Santos, Ltd. 2,748,054 39,330,197 # Seven Group Holdings, Ltd. 361,999 2,851,358 Seven West Media, Ltd. 46,084 109,800 #* Sims Metal Management, Ltd. 209,772 1,987,012 # Sims Metal Management, Ltd. Sponsored ADR 124,013 1,171,923 Suncorp Group, Ltd. 3,736,013 47,108,867 Tabcorp Holdings, Ltd. 1,777,555 6,045,951 Tatts Group, Ltd. 3,649,013 10,834,947 # Toll Holdings, Ltd. 1,715,759 9,347,131 Treasury Wine Estates, Ltd. 1,372,955 6,097,343 Washington H Soul Pattinson & Co., Ltd. 87,756 1,249,844 Wesfarmers, Ltd. 2,755,622 111,820,231 Woodside Petroleum, Ltd. 90,785 3,328,170 ------------ TOTAL AUSTRALIA 438,493,483 ------------ AUSTRIA -- (0.2%) Erste Group Bank AG 372,952 13,094,264 OMV AG 28,060 1,338,536 # Raiffeisen Bank International AG 57,158 2,096,553 ------------ TOTAL AUSTRIA 16,529,353 ------------ BELGIUM -- (1.2%) Ageas 508,017 21,587,807 Belgacom SA 93,033 2,545,527 THE DFA INTERNATIONAL VALUE SERIES CONTINUED Shares Value++ --------- ------------ BELGIUM -- (Continued) D'ieteren SA 1,857 $ 87,509 # Delhaize Group SA 235,124 15,016,064 # Delhaize Group SA Sponsored ADR 52,900 3,382,426 KBC Groep NV 421,447 22,961,052 # Solvay SA 180,191 28,175,202 # UCB SA 292,847 19,223,013 ------------ TOTAL BELGIUM 112,978,600 ------------ CANADA -- (8.8%) Barrick Gold Corp. 1,551,822 30,089,829 # Bell Aliant, Inc. 62,911 1,593,516 #* BlackBerry, Ltd.(09228F103) 477,288 3,775,348 #* BlackBerry, Ltd.(BCBHZ31) 435,600 3,438,343 Bonavista Energy Corp. 21,356 246,404 Cameco Corp.(13321L108) 112,600 2,139,400 Cameco Corp.(2166160) 506,586 9,615,247 Canadian Natural Resources, Ltd.(136385101) 600,503 19,065,970 # Canadian Natural Resources, Ltd.(2171573) 1,849,320 58,690,835 # Canadian Tire Corp., Ltd. Class A 214,347 19,895,941 # Crescent Point Energy Corp. 260,862 10,130,247 # Eldorado Gold Corp.(284902103) 109,318 737,896 Eldorado Gold Corp.(2307873) 175,726 1,184,821 Empire Co., Ltd. 65,500 4,823,373 # Enerplus Corp. 401,965 6,935,549 Ensign Energy Services, Inc. 452,198 7,728,546 Fairfax Financial Holdings, Ltd. 54,622 23,836,388 # First Quantum Minerals, Ltd. 784,126 14,875,565 # Genworth MI Canada, Inc. 84,524 2,659,792 George Weston, Ltd. 36,010 2,933,573 Goldcorp, Inc.(2676302) 1,686,234 42,954,371 Goldcorp, Inc.(380956409) 23,874 607,116 # Husky Energy, Inc. 839,318 23,859,766 IAMGOLD Corp.(450913108) 573,940 2,927,094 IAMGOLD Corp.(2446646) 231,424 1,183,034 Industrial Alliance Insurance & Financial Services, Inc. 168,485 7,556,091 Kinross Gold Corp. 2,678,826 13,617,012 # Lightstream Resources, Ltd. 62,701 402,912 # Loblaw Cos., Ltd. 221,495 10,131,009 #* Lundin Mining Corp. 737,610 3,324,958 # Magna International, Inc. 583,936 49,458,004 # Manulife Financial Corp. 4,587,163 81,259,196 * MEG Energy Corp. 52,780 1,689,223 #* New Gold, Inc. 25,030 146,918 #* Osisko Mining Corp. 6,000 29,291 # Pacific Rubiales Energy Corp. 203,837 4,216,913 Pan American Silver Corp.(697900108) 118,576 1,258,091 Pan American Silver Corp.(2669272) 131,923 1,401,915 # Pengrowth Energy Corp. 695,258 4,467,682 # Penn West Petroleum, Ltd. 1,034,275 11,546,503 # Precision Drilling Corp. 706,616 7,475,159 Quebecor, Inc. Class B 1,628 40,253 # Sun Life Financial, Inc. 1,446,869 48,735,471 THE DFA INTERNATIONAL VALUE SERIES CONTINUED Shares Value++ --------- ------------ CANADA -- (Continued) Suncor Energy, Inc. 3,750,370 $136,288,802 # Talisman Energy, Inc. 2,444,889 30,483,438 Teck Resources, Ltd. Class A 4,115 118,400 # Teck Resources, Ltd. Class B 1,483,730 39,702,745 # Thomson Reuters Corp. 1,557,384 58,522,328 # TransAlta Corp. 603,481 8,120,499 # Trican Well Service, Ltd. 6,065 85,218 #* Turquoise Hill Resources, Ltd.(900435108) 63,691 306,991 #* Turquoise Hill Resources, Ltd.(B7WJ1F5) 136,558 658,789 West Fraser Timber Co., Ltd. 29,672 2,719,755 Westjet Airlines, Ltd. 1,000 26,155 Yamana Gold, Inc. 1,425,140 14,133,168 ------------ TOTAL CANADA 833,850,853 ------------ DENMARK -- (1.5%) AP Moeller - Maersk A.S. Class A 900 8,126,880 AP Moeller - Maersk A.S. Class B 3,855 37,297,006 Carlsberg A.S. Class B 334,440 33,405,861 * Danske Bank A.S. 1,629,867 38,083,135 # FLSmidth & Co. A.S. 23,118 1,153,804 GN Store Nord A.S. 31,827 726,063 H Lundbeck A.S. 135,698 2,913,643 Rockwool International A.S. Class B 1,368 215,169 TDC A.S. 1,238,546 11,187,922 #* Vestas Wind Systems A.S. 169,081 4,530,837 ------------ TOTAL DENMARK 137,640,320 ------------ FINLAND -- (0.9%) Fortum Oyj 252,822 5,639,687 Kesko Oyj Class A 662 22,790 # Kesko Oyj Class B 138,917 4,616,215 Neste Oil Oyj 110,779 2,196,564 #* Nokia Oyj 4,254,629 32,338,492 Stora Enso Oyj Class R 1,455,180 13,512,611 Stora Enso Oyj Sponsored ADR 91,500 849,120 UPM-Kymmene Oyj 1,403,467 22,283,181 UPM-Kymmene Oyj Sponsored ADR 69,300 1,101,870 ------------ TOTAL FINLAND 82,560,530 ------------ FRANCE -- (9.7%) AXA SA 4,004,754 99,780,178 AXA SA Sponsored ADR 140,900 3,523,909 BNP Paribas SA 1,975,744 145,756,834 Bollore SA(4572709) 22,197 12,104,448 * Bollore SA(BDGTH22) 99 54,305 Bouygues SA 305,569 11,922,330 Cap Gemini SA 324,351 21,270,281 Casino Guichard Perrachon SA 142,758 16,046,690 * CGG 304,853 6,700,640 * CGG Sponsored ADR 141,089 3,096,904 Cie de St-Gobain 1,078,023 56,585,484 THE DFA INTERNATIONAL VALUE SERIES CONTINUED Shares Value++ --------- ------------ FRANCE -- (Continued) Cie Generale des Etablissements Michelin 210,073 $ 21,889,167 CNP Assurances 345,489 6,086,166 * Credit Agricole SA 2,838,495 34,128,764 Eiffage SA 31,691 1,878,111 Electricite de France SA 498,285 17,438,928 # Eramet 5,005 475,280 GDF Suez 3,247,971 80,496,939 Groupe Eurotunnel SA 651,298 6,305,144 Lafarge SA 505,082 34,848,326 Lagardere SCA 221,491 8,046,602 Natixis 2,034,211 10,939,169 Orange 3,875,091 53,267,297 #* Peugeot SA 124,117 1,632,756 Renault SA 500,585 43,676,155 Rexel SA 267,968 6,710,671 SCOR SE 72,412 2,555,845 Societe Generale SA 1,823,515 103,009,458 STMicroelectronics NV 1,542,301 11,863,392 Vallourec SA 119,253 7,098,133 Vivendi SA 3,686,124 93,331,608 ------------ TOTAL FRANCE 922,519,914 ------------ GERMANY -- (8.4%) Allianz SE 518,031 86,978,602 Allianz SE ADR 2,811,910 47,324,445 Bayerische Motoren Werke AG 663,299 75,071,136 # Celesio AG 108,168 3,362,933 * Commerzbank AG 1,293,711 16,546,084 Daimler AG 2,088,586 171,002,503 Deutsche Bank AG(5750355) 1,538,807 74,369,159 Deutsche Bank AG(D18190898) 511,964 24,738,100 * Deutsche Lufthansa AG 464,311 8,976,535 Deutsche Telekom AG 2,186,066 34,353,384 # Deutsche Telekom AG Sponsored ADR 3,074,385 48,544,539 E.ON SE 3,638,090 66,316,888 Fraport AG Frankfurt Airport Services Worldwide 37,336 2,888,431 HeidelbergCement AG 243,824 19,198,613 Hochtief AG 8,149 737,036 Metro AG 30,139 1,413,097 Muenchener Rueckversicherungs AG 395,244 82,460,652 RWE AG 439,804 16,203,292 Volkswagen AG 62,518 15,288,518 # Wacker Chemie AG 1,454 136,542 ------------ TOTAL GERMANY 795,910,489 ------------ GREECE -- (0.0%) Hellenic Petroleum SA 334,517 4,349,753 * National Bank of Greece SA 67,810 385,147 ------------ TOTAL GREECE 4,734,900 ------------ THE DFA INTERNATIONAL VALUE SERIES CONTINUED Shares Value++ ---------- ------------ HONG KONG -- (2.1%) Cathay Pacific Airways, Ltd. 2,051,000 $ 4,063,024 Cheung Kong Holdings, Ltd. 750,000 11,732,109 * FIH Mobile, Ltd. 1,947,000 1,094,223 Great Eagle Holdings, Ltd. 794,324 2,833,659 Hang Lung Group, Ltd. 62,000 327,181 # Henderson Land Development Co., Ltd. 3,725,616 22,021,520 Hongkong & Shanghai Hotels (The) 1,903,131 2,994,965 Hopewell Holdings, Ltd. 1,244,169 4,198,037 Hutchison Whampoa, Ltd. 5,818,000 72,458,624 Kerry Properties, Ltd. 602,000 2,618,365 # New World Development Co., Ltd. 9,142,122 12,670,815 NWS Holdings, Ltd. 60,000 94,005 # Orient Overseas International, Ltd. 488,000 2,520,577 Shangri-La Asia, Ltd. 150,000 275,956 Sino Land Co., Ltd. 1,174,000 1,646,530 Sun Hung Kai Properties, Ltd. 676,000 8,837,305 Wharf Holdings, Ltd. 3,550,990 30,019,792 Wheelock & Co., Ltd. 3,482,000 17,814,626 ------------ TOTAL HONG KONG 198,221,313 ------------ IRELAND -- (0.1%) * Bank of Ireland 2,856,177 1,043,888 CRH P.L.C. 297,758 7,245,511 CRH P.L.C. Sponsored ADR 215,216 5,268,488 ------------ TOTAL IRELAND 13,557,887 ------------ ISRAEL -- (0.3%) Bank Hapoalim BM 2,967,547 15,886,697 * Bank Leumi Le-Israel BM 2,954,599 11,246,549 #* Israel Discount Bank, Ltd. Class A 381,656 761,615 Mizrahi Tefahot Bank, Ltd. 14,857 174,152 ------------ TOTAL ISRAEL 28,069,013 ------------ ITALY -- (1.5%) #* Banca Monte dei Paschi di Siena SpA 12,934,984 4,078,092 * Banco Popolare 2,933,385 5,827,428 #* Finmeccanica SpA 995,867 7,297,728 Intesa Sanpaolo SpA 9,982,247 24,764,684 Telecom Italia SpA 5,476,933 5,343,005 # Telecom Italia SpA Sponsored ADR 1,874,500 18,295,120 UniCredit SpA 8,189,815 61,477,549 Unione di Banche Italiane SCPA 1,854,721 12,818,782 ------------ TOTAL ITALY 139,902,388 ------------ JAPAN -- (17.7%) 77 Bank, Ltd. (The) 737,372 3,646,943 # Aeon Co., Ltd. 1,886,800 25,748,056 Aisin Seiki Co., Ltd. 131,900 5,358,358 Alfresa Holdings Corp. 89,400 4,886,268 # Amada Co., Ltd. 821,000 7,062,711 Aoyama Trading Co., Ltd. 20,400 520,152 THE DFA INTERNATIONAL VALUE SERIES CONTINUED Shares Value++ --------- ----------- JAPAN -- (Continued) Asahi Glass Co., Ltd. 2,324,000 $14,353,086 Asahi Kasei Corp. 2,847,000 21,667,377 Asatsu-DK, Inc. 32,500 893,159 Autobacs Seven Co., Ltd. 214,800 3,131,886 Awa Bank, Ltd. (The) 65,600 342,593 Azbil Corp. 23,600 568,633 Bank of Kyoto, Ltd. (The) 709,400 6,250,736 Bank of Yokohama, Ltd. (The) 1,939,000 10,692,173 Brother Industries, Ltd. 147,900 1,680,484 Canon Marketing Japan, Inc. 124,900 1,673,261 Chiba Bank, Ltd. (The) 1,189,000 8,476,227 Chugoku Bank, Ltd. (The) 391,800 5,632,708 Citizen Holdings Co., Ltd. 601,600 4,292,188 Coca-Cola West Co., Ltd. 121,107 2,456,415 # COMSYS Holdings Corp. 207,400 2,879,471 #* Cosmo Oil Co., Ltd. 1,287,364 2,266,802 # Dai Nippon Printing Co., Ltd. 1,815,000 19,068,327 Dai-ichi Life Insurance Co., Ltd. (The) 333,800 4,765,262 # Daicel Corp. 552,000 4,652,686 # Daido Steel Co., Ltd. 594,000 3,415,723 Denki Kagaku Kogyo KK 664,000 2,784,642 Ebara Corp. 413,000 2,220,423 Fuji Media Holdings, Inc. 112,800 2,248,708 FUJIFILM Holdings Corp. 1,327,000 32,463,391 * Fujitsu, Ltd. 3,968,000 17,047,336 Fukuoka Financial Group, Inc. 1,800,000 8,118,818 # Fukuyama Transporting Co., Ltd. 85,000 543,302 # Furukawa Electric Co., Ltd. 633,000 1,467,153 Glory, Ltd. 119,600 2,965,708 Gunma Bank, Ltd. (The) 921,397 5,331,353 # H2O Retailing Corp. 269,000 2,285,843 Hachijuni Bank, Ltd. (The) 993,231 6,135,772 Hakuhodo DY Holdings, Inc. 452,000 3,495,843 Hankyu Hanshin Holdings, Inc. 849,000 4,761,907 Higo Bank, Ltd. (The) 282,000 1,605,302 Hiroshima Bank, Ltd. (The) 624,000 2,655,690 Hitachi Capital Corp. 47,000 1,264,078 Hitachi Chemical Co., Ltd. 149,400 2,292,061 Hitachi Construction Machinery Co., Ltd. 87,600 1,855,240 Hitachi High-Technologies Corp. 139,900 3,217,692 # Hitachi Transport System, Ltd. 94,400 1,496,900 Hokuhoku Financial Group, Inc. 2,620,000 5,402,312 House Foods Group, Inc. 148,300 2,349,019 # Ibiden Co., Ltd. 246,500 4,273,194 Idemitsu Kosan Co., Ltd. 52,124 4,363,471 # Inpex Corp. 1,335,200 15,424,189 Isetan Mitsukoshi Holdings, Ltd. 884,200 13,400,224 ITOCHU Corp. 2,941,000 35,363,001 Iyo Bank, Ltd. (The) 551,000 5,753,374 J Front Retailing Co., Ltd. 1,166,000 9,073,100 JFE Holdings, Inc. 1,235,400 28,086,421 # Joyo Bank, Ltd. (The) 1,376,000 7,147,142 THE DFA INTERNATIONAL VALUE SERIES CONTINUED Shares Value++ ---------- ------------ JAPAN -- (Continued) JTEKT Corp. 478,300 $ 6,140,546 JX Holdings, Inc. 6,192,133 30,618,036 # K's Holdings Corp. 41,100 1,206,813 Kagoshima Bank, Ltd. (The) 358,143 2,410,776 Kajima Corp. 1,900,000 8,064,175 Kamigumi Co., Ltd. 540,000 4,697,115 # Kaneka Corp. 653,542 4,147,074 Kawasaki Kisen Kaisha, Ltd. 1,904,000 4,364,781 Keiyo Bank, Ltd. (The) 418,000 2,128,760 Kewpie Corp. 47,400 713,179 # Kinden Corp. 207,000 2,273,434 * Kobe Steel, Ltd. 5,553,000 9,808,652 # Konica Minolta, Inc. 1,026,500 8,500,392 # Kuraray Co., Ltd. 241,900 2,840,228 # Kurita Water Industries, Ltd. 13,500 294,624 Kyocera Corp. 818,800 42,520,723 # Kyocera Corp. Sponsored ADR 27,200 1,440,240 Kyowa Hakko Kirin Co., Ltd. 571,000 6,306,678 Lintec Corp. 5,100 105,777 # LIXIL Group Corp. 371,200 8,713,055 Mabuchi Motor Co., Ltd. 20,400 1,084,636 Maeda Road Construction Co., Ltd. 36,000 640,114 # Marubeni Corp. 3,990,000 31,239,486 # Marui Group Co., Ltd. 542,642 5,194,536 # Maruichi Steel Tube, Ltd. 74,700 1,824,167 Matsumotokiyoshi Holdings Co., Ltd. 5,000 168,712 # Medipal Holdings Corp. 339,800 4,581,830 MEIJI Holdings Co., Ltd. 135,895 7,596,752 Mitsubishi Chemical Holdings Corp. 3,885,000 18,186,642 Mitsubishi Corp. 3,482,500 70,454,645 Mitsubishi Gas Chemical Co., Inc. 948,000 7,747,627 Mitsubishi Heavy Industries, Ltd. 2,000 12,711 # Mitsubishi Logistics Corp. 220,000 3,057,325 Mitsubishi Materials Corp. 2,533,000 9,910,148 Mitsubishi Tanabe Pharma Corp. 465,600 6,566,687 Mitsubishi UFJ Financial Group, Inc. 24,653,206 156,998,104 # Mitsubishi UFJ Financial Group, Inc. ADR 4,781,372 30,600,781 Mitsui & Co., Ltd. 4,220,700 60,296,595 # Mitsui & Co., Ltd. Sponsored ADR 11,723 3,352,778 # Mitsui Chemicals, Inc. 1,861,800 4,949,235 Mitsui Engineering & Shipbuilding Co., Ltd. 620,000 1,217,046 Mitsui Mining & Smelting Co., Ltd. 69,030 175,971 Mitsui OSK Lines, Ltd. 2,265,000 9,587,358 Mizuho Financial Group, Inc. 10,127,200 21,257,621 # Mizuho Financial Group, Inc. ADR 205,757 864,179 MS&AD Insurance Group Holdings 806,853 20,863,085 Nagase & Co., Ltd. 235,889 2,938,398 Nanto Bank, Ltd. (The) 319,000 1,263,057 NEC Corp. 6,055,101 13,600,869 Nippo Corp. 117,000 2,195,032 # Nippon Electric Glass Co., Ltd. 864,000 4,444,189 Nippon Express Co., Ltd. 1,952,238 9,803,255 THE DFA INTERNATIONAL VALUE SERIES CONTINUED Shares Value++ ---------- ----------- JAPAN -- (Continued) Nippon Meat Packers, Inc. 429,536 $ 6,288,951 # Nippon Paper Industries Co., Ltd. 231,700 3,691,904 # Nippon Shokubai Co., Ltd. 266,000 3,263,153 Nippon Steel & Sumitomo Metal Corp. 18,537,940 61,185,438 Nippon Television Holdings, Inc. 123,700 2,266,015 # Nippon Yusen KK 3,731,000 11,400,053 # Nishi-Nippon City Bank, Ltd. (The) 1,412,569 3,816,419 Nissan Motor Co., Ltd. 1,309,900 13,153,043 Nissan Shatai Co., Ltd. 72,000 1,241,356 # Nisshin Seifun Group, Inc. 464,199 5,032,577 Nisshin Steel Holdings Co., Ltd. 143,100 1,908,086 Nisshinbo Holdings, Inc. 305,000 2,693,840 # NKSJ Holdings, Inc. 190,100 4,920,771 # NOK Corp. 171,020 2,643,679 #* NTN Corp. 920,000 4,422,299 NTT DOCOMO, Inc. 3,091,700 49,049,894 NTT DOCOMO, Inc. Sponsored ADR 6,118 97,093 Obayashi Corp. 1,650,682 10,576,107 # Oji Holdings Corp. 1,997,000 9,126,346 Onward Holdings Co., Ltd. 278,000 2,300,944 Pola Orbis Holdings, Inc. 49,300 1,670,371 Rengo Co., Ltd. 421,000 2,251,700 Resona Holdings, Inc. 601,300 3,127,800 Ricoh Co., Ltd. 1,875,000 19,801,509 Rohm Co., Ltd. 233,700 9,592,835 Sankyo Co., Ltd. 82,500 3,923,611 SBI Holdings, Inc. 75,000 907,638 Seiko Epson Corp. 294,100 4,800,764 Seino Holdings Co., Ltd. 315,000 3,111,017 Sekisui Chemical Co., Ltd. 125,000 1,452,311 # Sekisui House, Ltd. 1,369,000 19,650,417 Shiga Bank, Ltd. (The) 451,185 2,465,887 # Shimizu Corp. 1,371,000 7,031,071 Shizuoka Bank, Ltd. (The) 1,051,000 11,825,206 # Showa Denko KK 3,281,000 4,448,857 Showa Shell Sekiyu KK 366,900 3,944,496 SKY Perfect JSAT Holdings, Inc. 340,000 1,963,296 Sohgo Security Services Co., Ltd. 101,200 2,045,761 Sojitz Corp. 2,690,300 5,224,001 Sony Corp. 975,200 17,012,057 # Sony Corp. Sponsored ADR 1,801,665 31,078,721 Sumitomo Bakelite Co., Ltd. 347,000 1,251,232 # Sumitomo Chemical Co., Ltd. 2,816,000 10,313,263 Sumitomo Corp. 3,241,900 42,187,813 # Sumitomo Electric Industries, Ltd. 2,606,700 39,059,664 Sumitomo Forestry Co., Ltd. 276,100 3,212,126 Sumitomo Heavy Industries, Ltd. 1,205,000 5,333,252 Sumitomo Metal Mining Co., Ltd. 1,187,000 16,440,653 Sumitomo Mitsui Financial Group, Inc. 134,600 6,506,008 Sumitomo Mitsui Trust Holdings, Inc. 1,987,629 9,817,070 Sumitomo Osaka Cement Co., Ltd. 196,000 790,817 # Suzuken Co. Ltd/Aichi Japan 149,300 5,391,182 THE DFA INTERNATIONAL VALUE SERIES CONTINUED Shares Value++ --------- -------------- JAPAN -- (Continued) Suzuki Motor Corp. 774,300 $ 19,470,063 T&D Holdings, Inc. 240,100 2,882,576 Taisei Corp. 502,000 2,575,400 # Taisho Pharmaceutical Holdings Co., Ltd. 49,199 3,454,487 Taiyo Nippon Sanso Corp. 17,000 116,575 Takashimaya Co., Ltd. 639,634 6,102,779 Takata Corp. 29,200 736,478 # TDK Corp. 275,500 11,708,781 # Teijin, Ltd. 1,898,450 4,262,921 Toho Holdings Co., Ltd. 12,800 247,813 Tokai Rika Co., Ltd. 92,700 1,965,717 Tokio Marine Holdings, Inc. 10,200 334,401 Tokyo Broadcasting System Holdings, Inc. 85,300 1,123,935 # Toppan Printing Co., Ltd. 1,312,000 10,362,646 Toshiba TEC Corp. 36,000 221,732 Tosoh Corp. 1,128,000 4,316,480 Toyo Seikan Group Holdings, Ltd. 365,849 7,603,418 Toyobo Co., Ltd. 664,000 1,275,969 Toyoda Gosei Co., Ltd. 23,700 592,608 # Toyota Tsusho Corp. 443,700 12,324,651 Ube Industries, Ltd. 2,122,000 4,392,315 UNY Group Holdings Co., Ltd. 393,050 2,480,266 Ushio, Inc. 44,200 558,285 Wacoal Holdings Corp. 179,000 1,922,106 # Yamada Denki Co., Ltd. 1,608,100 4,510,698 Yamaguchi Financial Group, Inc. 492,148 4,637,816 Yamaha Corp. 355,900 5,313,749 # Yamato Kogyo Co., Ltd. 86,600 3,209,757 Yamazaki Baking Co., Ltd. 204,000 2,076,924 -------------- TOTAL JAPAN 1,680,734,643 -------------- NETHERLANDS -- (3.1%) Aegon NV 3,908,207 31,097,105 Akzo Nobel NV 448,015 32,523,367 # ArcelorMittal 2,499,882 39,374,694 * ING Groep NV 6,479,202 82,335,806 #* ING Groep NV Sponsored ADR 1,297,167 16,499,964 # Koninklijke Ahold NV 652,923 12,409,806 Koninklijke DSM NV 466,014 35,227,193 # Koninklijke Philips NV 1,120,476 39,598,403 TNT Express NV 72,118 664,891 -------------- TOTAL NETHERLANDS 289,731,229 -------------- NEW ZEALAND -- (0.1%) Auckland International Airport, Ltd. 242,713 687,080 Contact Energy, Ltd. 1,292,916 5,606,622 -------------- TOTAL NEW ZEALAND 6,293,702 -------------- NORWAY -- (0.7%) Aker ASA Class A 68,150 2,147,007 Cermaq ASA 8,375 148,423 THE DFA INTERNATIONAL VALUE SERIES CONTINUED Shares Value++ ---------- ------------ NORWAY -- (Continued) DNB ASA 1,551,198 $ 27,497,326 # Norsk Hydro ASA 3,357,025 14,981,632 Norsk Hydro ASA Sponsored ADR 59,900 265,956 Orkla ASA 365,732 2,964,687 Stolt-Nielsen, Ltd. 8,425 238,544 * Storebrand ASA 1,082,306 6,998,717 Subsea 7 SA 590,207 12,481,559 Wilh Wilhelmsen Holding ASA Class A 212 6,490 ------------ TOTAL NORWAY 67,730,341 ------------ PORTUGAL -- (0.1%) * Banco Espirito Santo SA 2,631,973 3,458,348 Cimpor Cimentos de Portugal SGPS SA 22,409 82,008 * EDP Renovaveis SA 517,656 2,845,872 ------------ TOTAL PORTUGAL 6,386,228 ------------ SINGAPORE -- (1.2%) CapitaLand, Ltd. 9,878,000 24,749,241 CapitaMalls Asia, Ltd. 1,267,000 2,057,582 DBS Group Holdings, Ltd. 1,172,308 15,804,432 Golden Agri-Resources, Ltd. 13,990,000 6,755,237 Hutchison Port Holdings Trust 3,401,000 2,482,016 Keppel Land, Ltd. 1,214,000 3,619,243 #* Neptune Orient Lines, Ltd. 1,246,004 1,061,308 Noble Group, Ltd. 7,305,000 6,035,517 # Olam International, Ltd. 2,188,000 2,706,893 # OUE, Ltd. 405,000 788,349 Singapore Airlines, Ltd. 1,585,600 13,300,620 # Singapore Land, Ltd. 532,000 3,713,958 # United Industrial Corp., Ltd. 2,152,000 5,314,579 UOL Group, Ltd. 1,376,600 7,286,150 Venture Corp., Ltd. 307,000 1,922,553 Wheelock Properties Singapore, Ltd. 861,000 1,178,225 # Wilmar International, Ltd. 3,792,000 10,547,597 ------------ TOTAL SINGAPORE 109,323,500 ------------ SPAIN -- (2.3%) # Acciona SA 101,533 6,436,410 # Banco de Sabadell SA 5,307,715 13,599,978 #* Banco Popular Espanol SA 3,430,914 19,461,405 Banco Santander SA 8,832,930 78,306,244 # Banco Santander SA Sponsored ADR 1,470,150 13,099,036 # CaixaBank 3,003,209 15,566,089 Iberdrola SA 7,444,256 46,726,442 Repsol SA 996,982 26,729,919 ------------ TOTAL SPAIN 219,925,523 ------------ SWEDEN -- (2.8%) Boliden AB 612,180 8,694,798 Holmen AB Class A 6,189 204,389 Meda AB Class A 280,396 3,146,459 THE DFA INTERNATIONAL VALUE SERIES CONTINUED Shares Value++ ---------- ------------ SWEDEN -- (Continued) Nordea Bank AB 5,366,449 $ 68,644,974 Skandinaviska Enskilda Banken AB 16,918 191,115 Skandinaviska Enskilda Banken AB Class A 3,481,813 42,112,740 # SSAB AB Class A 51,620 339,584 Svenska Cellulosa AB Class A 66,476 1,878,656 Svenska Cellulosa AB Class B 1,348,669 38,236,384 Tele2 AB Class B 127,737 1,539,667 Telefonaktiebolaget LM Ericsson Class A 28,098 317,281 Telefonaktiebolaget LM Ericsson Class B 4,713,081 56,374,169 # Telefonaktiebolaget LM Ericsson Sponsored ADR 952,162 11,416,422 TeliaSonera AB 3,717,354 30,738,764 ------------ TOTAL SWEDEN 263,835,402 ------------ SWITZERLAND -- (6.9%) ABB, Ltd. 820,669 20,908,636 Adecco SA 358,259 26,419,353 Alpiq Holding AG 1,593 210,392 Aryzta AG 169,876 12,673,160 Baloise Holding AG 200,163 23,253,706 Banque Cantonale Vaudoise 468 260,051 Clariant AG 581,272 10,241,918 Credit Suisse Group AG 1,928,358 59,987,253 # Credit Suisse Group AG Sponsored ADR 1,022,581 31,832,947 Givaudan SA 5,507 7,809,963 Holcim, Ltd. 887,877 66,039,798 Lonza Group AG 7,458 665,723 Novartis AG 69,068 5,361,235 Novartis AG ADR 506,359 39,268,140 PSP Swiss Property AG 17,947 1,542,522 Sulzer AG 50,596 7,915,245 Swiss Life Holding AG 123,557 24,498,922 Swiss Re AG 1,117,582 98,104,262 UBS AG(B18YFJ4) 6,496,062 125,640,734 UBS AG(H89231338) 991,339 19,192,323 Zurich Insurance Group AG 269,917 74,584,331 ------------ TOTAL SWITZERLAND 656,410,614 ------------ UNITED KINGDOM -- (17.9%) Anglo American P.L.C. 1,123,359 26,709,625 Aviva P.L.C. 4,454,616 31,979,282 Barclays P.L.C. 14,540,536 61,178,709 # Barclays P.L.C. Sponsored ADR 5,739,573 96,482,222 Barratt Developments P.L.C. 410,298 2,200,251 BP P.L.C. 1,823,857 14,157,877 BP P.L.C. Sponsored ADR 5,793,659 269,405,143 Carnival P.L.C. 658,867 23,417,634 # Carnival P.L.C. ADR 229,328 8,164,077 Coca-Cola HBC AG ADR 5,961 172,034 * Eurasian Natural Resources Corp. P.L.C. 408,931 1,473,405 * Evraz P.L.C. 436,689 825,329 Glencore Xstrata P.L.C. 15,896,454 86,511,958 HSBC Holdings P.L.C. 1,911,475 20,952,325 THE DFA INTERNATIONAL VALUE SERIES CONTINUED Shares Value++ ---------- -------------- UNITED KINGDOM -- (Continued) # HSBC Holdings P.L.C. Sponsored ADR 1,694,884 $ 93,286,415 * International Consolidated Airlines Group SA 1,936,203 10,776,220 Investec P.L.C. 1,195,168 8,362,125 J Sainsbury P.L.C. 5,377,115 34,013,068 Kazakhmys P.L.C. 49,435 207,988 Kingfisher P.L.C. 8,609,963 52,085,475 * Lloyds Banking Group P.L.C. 82,680,839 102,259,365 #* Lloyds Banking Group P.L.C. ADR 3,082,996 15,507,470 Mondi P.L.C. 190,635 3,403,966 # Old Mutual P.L.C. 11,913,351 38,826,073 # Pearson P.L.C. Sponsored ADR 1,234,793 25,930,653 Resolution, Ltd. 3,422,696 19,597,545 * Royal Bank of Scotland Group P.L.C. 3,847,507 22,659,929 #* Royal Bank of Scotland Group P.L.C. Sponsored ADR 400,166 4,713,955 # Royal Dutch Shell P.L.C. ADR(780259107) 3,323,210 231,029,559 Royal Dutch Shell P.L.C. ADR(780259206) 547,088 36,468,886 Royal Dutch Shell P.L.C. Class A 547,861 18,246,404 Royal Dutch Shell P.L.C. Class B 255,146 8,833,156 RSA Insurance Group P.L.C. 4,956,241 10,207,516 Travis Perkins P.L.C. 38,182 1,135,439 Vedanta Resources P.L.C. 189,404 3,227,055 Vodafone Group P.L.C. 34,976,333 128,109,810 Vodafone Group P.L.C. Sponsored ADR 3,949,158 145,407,998 WM Morrison Supermarkets P.L.C. 8,127,143 36,669,870 -------------- TOTAL UNITED KINGDOM 1,694,595,811 -------------- TOTAL COMMON STOCKS 8,719,936,036 -------------- PREFERRED STOCKS -- (0.2%) GERMANY -- (0.2%) Porsche Automobil Holding SE 254,382 23,753,308 -------------- RIGHTS/WARRANTS -- (0.0%) HONG KONG -- (0.0%) * New Hotel Rights 12/31/13 109,252 -- -------------- SPAIN -- (0.0%) * Banco Santander SA Rights 10/30/13 8,832,930 1,906,872 -------------- TOTAL RIGHTS/WARRANTS 1,906,872 -------------- Shares/ Face Amount (000) Value+ ----------- ----------- SECURITIES LENDING COLLATERAL -- (7.7%) (S)@ DFA Short Term Investment Fund 62,748,487 726,000,000 @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $796,375 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $720,177) to be repurchased at $706,058 $ 706 706,056 THE DFA INTERNATIONAL VALUE SERIES CONTINUED -------------- TOTAL SECURITIES LENDING COLLATERAL 726,706,056 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $7,742,743,361) $9,472,302,272 ============== THE JAPANESE SMALL COMPANY SERIES SCHEDULE OF INVESTMENTS October 31, 2013 Shares Value++ ------- ---------- COMMON STOCKS -- (88.3%) Consumer Discretionary -- (18.9%) Accordia Golf Co., Ltd. 575,900 $6,320,624 Adastria Holdings Co., Ltd. 91,220 4,271,956 Aeon Fantasy Co., Ltd. 57,832 905,482 #* Agora Hospitality Group Co., Ltd. 339,000 182,664 Ahresty Corp. 115,300 914,785 * Aigan Co., Ltd. 96,200 275,266 Aisan Industry Co., Ltd. 170,000 1,712,520 # Akebono Brake Industry Co., Ltd. 83,700 402,986 Alpen Co., Ltd. 98,000 2,039,423 Alpha Corp. 30,400 322,561 Alpine Electronics, Inc. 272,000 3,292,925 Amiyaki Tei Co., Ltd. 23,500 851,340 Amuse, Inc. 34,099 649,393 #* Anrakutei Co., Ltd. 22,000 87,275 AOI Pro, Inc. 39,200 255,567 AOKI Holdings, Inc. 97,100 3,229,910 Aoyama Trading Co., Ltd. 315,900 8,054,712 Arata Corp. 91,000 322,149 Arcland Sakamoto Co., Ltd. 80,500 1,202,557 #* Arnest One Corp. 238,800 6,557,104 Asahi Broadcasting Corp. 28,200 193,467 # Asahi Co., Ltd. 78,200 1,325,578 # Asatsu-DK, Inc. 168,000 4,616,943 #* Ashimori Industry Co., Ltd. 319,000 426,053 # ASKUL Corp. 51,800 1,657,457 Atsugi Co., Ltd. 858,000 1,015,093 Autobacs Seven Co., Ltd. 378,000 5,511,419 # Avex Group Holdings, Inc. 191,300 4,847,456 Belluna Co., Ltd. 190,500 1,011,433 # Best Bridal, Inc. 91,100 641,621 #* Best Denki Co., Ltd. 396,500 618,906 # Bic Camera, Inc. 4,976 2,446,464 # Bookoff Corp. 48,800 327,727 Calsonic Kansei Corp. 903,000 4,341,406 # Can Do Co., Ltd. 64,500 1,059,599 # Central Sports Co., Ltd. 27,000 420,594 Chiyoda Co., Ltd. 134,600 2,954,327 Chofu Seisakusho Co., Ltd. 88,800 2,055,392 Chori Co., Ltd. 72,900 871,690 Chuo Spring Co., Ltd. 202,000 631,424 #* Clarion Co., Ltd. 101,000 135,087 Cleanup Corp. 133,500 1,171,376 Corona Corp. 80,400 907,897 # Cross Plus, Inc. 22,000 199,478 Daido Metal Co., Ltd. 172,000 1,804,316 # Daidoh, Ltd. 126,100 862,992 #* Daiei, Inc. (The) 685,650 2,377,358 Daiichikosho Co., Ltd. 104,300 2,980,435 Daikoku Denki Co., Ltd. 41,500 910,073 Daimaruenawin Co., Ltd. 400 2,794 Dainichi Co., Ltd. 54,900 460,586 THE JAPANESE SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ---------- Consumer Discretionary -- (Continued) Daisyo Corp. 54,300 $ 716,275 # DCM Holdings Co., Ltd. 491,600 3,434,778 Descente, Ltd. 240,000 1,756,250 # Doshisha Co., Ltd. 126,700 1,837,588 Doutor Nichires Holdings Co., Ltd. 173,686 3,154,638 Dunlop Sports Co., Ltd. 77,500 964,626 Dynic Corp. 174,000 307,395 Eagle Industry Co., Ltd. 140,000 2,249,803 # EDION Corp. 528,800 2,647,129 Exedy Corp. 179,600 5,334,181 F-Tech, Inc. 23,800 415,425 FCC Co., Ltd. 193,300 4,415,920 Fields Corp. 78,500 1,390,918 Fine Sinter Co., Ltd. 49,000 165,422 First Juken Co., Ltd. 4,900 75,210 Foster Electric Co., Ltd. 129,400 2,531,780 # France Bed Holdings Co., Ltd. 672,000 1,391,944 # Fuji Co. Ltd/Ehime 105,000 1,889,535 Fuji Corp., Ltd. 127,000 870,590 # Fuji Kiko Co., Ltd. 148,000 508,539 Fuji Oozx, Inc. 6,000 30,931 # Fujibo Holdings, Inc. 732,000 1,491,596 Fujikura Rubber, Ltd. 72,900 324,972 Fujitsu General, Ltd. 329,000 3,986,259 FuKoKu Co., Ltd. 32,100 273,961 # Funai Electric Co., Ltd. 84,200 893,079 Furukawa Battery Co., Ltd. 81,000 457,279 * Futaba Industrial Co., Ltd. 315,800 1,176,619 G-7 Holdings, Inc. 29,200 232,227 G-Tekt Corp. 45,800 1,353,810 # Gakken Holdings Co., Ltd. 322,000 994,055 Genki Sushi Co., Ltd. 20,500 261,864 # Geo Holdings Corp. 184,700 1,721,763 # GLOBERIDE, Inc. 530,000 903,369 Goldwin, Inc. 188,000 896,365 # Gourmet Kineya Co., Ltd. 87,000 601,240 # GSI Creos Corp. 289,000 430,387 Gulliver International Co., Ltd. 314,400 1,874,605 Gunze, Ltd. 1,111,000 2,967,192 H-One Co., Ltd. 69,500 708,934 H2O Retailing Corp. 262,000 2,226,360 # Hagihara Industries, Inc. 11,600 158,260 #* Hajime Construction Co., Ltd. 24,500 1,696,786 Hakuyosha Co., Ltd. 65,000 156,155 Happinet Corp. 76,400 575,520 Hard Off Corp. Co., Ltd. 49,700 375,896 Haruyama Trading Co., Ltd. 47,900 328,852 * Haseko Corp. 1,339,000 9,924,834 Heiwa Corp. 34,200 573,405 HI-LEX Corp. 62,900 1,355,483 Hiday Hidaka Corp. 47,220 1,009,902 # Higashi Nihon House Co., Ltd. 206,000 1,101,225 THE JAPANESE SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ---------- Consumer Discretionary -- (Continued) Himaraya Co., Ltd. 35,900 $ 514,106 Hiramatsu, Inc. 110,700 730,599 HIS Co., Ltd. 101,800 5,490,548 # Honeys Co., Ltd. 92,940 1,019,124 Hoosiers Holdings Co., Ltd. 153,500 1,215,009 # Ichibanya Co., Ltd. 33,700 1,441,403 #* Ichikoh Industries, Ltd. 294,000 563,709 * IJT Technology Holdings Co., Ltd. 128,280 687,517 # Ikyu Corp. 375 576,142 # Imasen Electric Industrial 77,900 1,102,429 # Imperial Hotel, Ltd. 15,900 389,478 # Intage, Inc. 72,400 955,818 * Izuhakone Railway Co., Ltd. 300 -- #* Izutsuya Co., Ltd. 555,000 497,370 * Janome Sewing Machine Co., Ltd. 822,000 686,562 Japan Vilene Co., Ltd. 154,000 888,597 Japan Wool Textile Co., Ltd. (The) 336,000 2,646,605 #* Joban Kosan Co., Ltd. 85,000 146,512 # Joshin Denki Co., Ltd. 209,000 1,701,796 # JVC Kenwood Corp. 874,630 1,713,152 # Kadokawa Corp. 113,300 4,133,643 Kasai Kogyo Co., Ltd. 141,000 855,464 # Kawai Musical Instruments Manufacturing Co., Ltd. 446,000 841,327 Keihin Corp. 260,200 4,251,198 # Keiyo Co., Ltd. 181,300 852,564 # Kentucky Fried Chicken Japan, Ltd. 77,000 1,646,048 # Kimoto Co., Ltd. 102,100 1,157,679 # Kinugawa Rubber Industrial Co., Ltd. 268,000 1,479,189 Kisoji Co., Ltd. 17,200 317,424 Kitamura Co., Ltd. 2,000 12,407 # Kohnan Shoji Co., Ltd. 194,000 2,040,690 #* Kojima Co., Ltd. 145,700 404,762 Komatsu Seiren Co., Ltd. 146,000 776,218 # Komeri Co., Ltd. 174,100 4,251,685 # Konaka Co., Ltd. 122,960 1,097,173 # Koshidaka Holdings Co., Ltd. 19,300 679,789 KU Holdings Co., Ltd. 68,200 906,501 Kura Corp. 63,100 1,022,919 Kurabo Industries, Ltd. 1,272,000 2,218,556 Kuraudia Co., Ltd. 5,700 64,212 KYB Co., Ltd. 892,000 5,164,980 Kyoritsu Maintenance Co., Ltd. 55,660 2,142,309 Kyoto Kimono Yuzen Co., Ltd. 59,800 628,421 LEC, Inc. 42,800 545,235 # Look, Inc. 219,000 662,212 Mamiya-Op Co., Ltd. 285,000 526,151 # Marche Corp. 23,000 194,264 # Mars Engineering Corp. 48,400 925,426 #* Maruzen CHI Holdings Co., Ltd. 29,800 86,544 Maruzen Co. Ltd 46,000 411,333 # Matsuya Foods Co., Ltd. 48,200 767,033 # Meiko Network Japan Co., Ltd. 72,300 834,643 THE JAPANESE SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ---------- Consumer Discretionary -- (Continued) * Meiwa Estate Co., Ltd. 56,900 $ 243,280 Mikuni Corp. 108,000 343,274 Misawa Homes Co., Ltd. 150,900 2,705,185 Mitsuba Corp. 193,990 2,895,176 Mitsui Home Co., Ltd. 170,000 856,479 # Mizuno Corp. 564,000 3,184,889 Monogatari Corp. (The) 17,600 736,071 # MOS Food Services, Inc. 94,100 1,824,463 Mr Max Corp. 119,000 406,088 Murakami Corp. 11,000 157,288 # Musashi Seimitsu Industry Co., Ltd. 121,500 2,867,067 Nafco Co., Ltd. 32,000 456,760 Nagawa Co., Ltd. 8,500 157,717 #* Naigai Co., Ltd. 1,951,000 1,730,371 Nakayamafuku Co., Ltd. 9,500 73,952 Nice Holdings, Inc. 460,000 1,195,952 # Nifco, Inc. 277,500 7,395,022 Nihon Eslead Corp. 8,900 98,491 Nihon Plast Co., Ltd. 1,600 9,238 Nihon Tokushu Toryo Co., Ltd. 56,000 233,568 #* Nippon Columbia Co., Ltd. 39,399 262,285 Nippon Felt Co., Ltd. 67,200 300,996 # Nippon Piston Ring Co., Ltd. 470,000 867,268 Nippon Seiki Co., Ltd. 248,400 4,049,891 # Nishikawa Rubber Co., Ltd. 15,000 270,015 # Nishimatsuya Chain Co., Ltd. 290,300 2,152,398 Nissan Shatai Co., Ltd. 17,023 293,494 Nissan Tokyo Sales Holdings Co., Ltd. 236,000 700,355 Nissen Holdings Co., Ltd. 200,491 647,299 Nissin Kogyo Co., Ltd. 214,800 4,017,979 Nittan Valve Co., Ltd. 82,800 267,350 Noritsu Koki Co., Ltd. 101,700 675,607 Ohashi Technica, Inc. 22,000 191,087 # Ohsho Food Service Corp. 58,100 1,902,601 Onward Holdings Co., Ltd. 753,000 6,232,413 # OPT, Inc. 53,000 460,130 Otsuka Kagu, Ltd. 40,700 459,074 Pacific Industrial Co., Ltd. 213,100 1,525,700 Pal Co., Ltd. 61,100 1,707,412 # Paltac Corp. 189,534 2,550,374 PanaHome Corp. 460,200 3,113,213 # Parco Co., Ltd. 103,600 1,065,112 Paris Miki Holdings, Inc. 164,400 768,211 PIA Corp. 100 1,784 Piolax, Inc. 57,900 1,996,075 #* Pioneer Corp. 1,903,400 3,503,789 Plenus Co., Ltd. 120,400 2,731,106 Press Kogyo Co., Ltd. 558,000 2,447,727 # Pressance Corp. 30,800 986,240 # Proto Corp. 61,600 901,159 Renaissance, Inc. 39,400 298,336 #* Renown, Inc. 326,600 442,564 THE JAPANESE SMALL COMPANY SERIES CONTINUED Shares Value++ ------- ---------- Consumer Discretionary -- (Continued) Resort Solution Co., Ltd. 180,000 $ 416,236 Resorttrust, Inc. 200,608 7,641,738 Rhythm Watch Co., Ltd. 658,000 972,630 Riberesute Corp. 127 85,422 Right On Co., Ltd. 79,525 682,814 Riken Corp. 512,000 2,240,727 # Riso Kyoiku Co., Ltd. 105,910 715,152 Roland Corp. 92,800 1,114,724 Round One Corp. 424,200 2,250,601 # Royal Holdings Co., Ltd. 135,800 2,178,586 Sagami Chain Co., Ltd. 17,000 152,413 Saizeriya Co., Ltd. 166,500 2,058,080 # Sakai Ovex Co., Ltd. 307,000 465,951 San Holdings, Inc. 14,000 199,196 # Sanden Corp. 623,000 2,520,699 Sanei Architecture Planning Co., Ltd. 43,300 363,598 Sangetsu Co., Ltd. 168,325 4,467,557 # Sanko Marketing Foods Co., Ltd. 304 297,211 Sankyo Seiko Co., Ltd. 188,700 642,023 Sanoh Industrial Co., Ltd. 140,500 1,010,030 # Sanyo Electric Railway Co., Ltd. 68,000 289,918 Sanyo Housing Nagoya Co., Ltd. 51,800 601,862 Sanyo Shokai, Ltd. 678,000 1,870,921 Scroll Corp. 152,100 432,034 Seiko Holdings Corp. 783,407 3,526,223 Seiren Co., Ltd. 296,700 1,893,390 Senshukai Co., Ltd. 183,700 1,590,371 # Septeni Holdings Co., Ltd. 78,600 700,836 # Seria Co., Ltd. 95,700 3,195,984 # Shidax Corp. 85,200 430,067 # Shikibo, Ltd. 802,000 1,072,203 Shimachu Co., Ltd. 273,900 6,651,367 Shimojima Co., Ltd. 23,800 231,479 Shiroki Corp. 285,000 639,273 Shobunsha Publications, Inc. 279,800 1,755,070 # Showa Corp. 320,400 4,446,926 SKY Perfect JSAT Holdings, Inc. 900,500 5,199,846 SNT Corp. 110,200 421,540 Soft99 Corp. 70,600 498,934 Sotoh Co., Ltd. 49,700 457,673 SPK Corp. 17,200 309,130 St Marc Holdings Co., Ltd. 45,300 2,331,665 # Starbucks Coffee Japan, Ltd. 120,300 1,407,666 # Starts Corp., Inc. 86,000 859,142 Step Co., Ltd. 39,200 337,389 # Studio Alice Co., Ltd. 53,000 685,046 Suminoe Textile Co., Ltd. 342,000 1,012,342 Sumitomo Forestry Co., Ltd. 268,366 3,122,150 Suncall Corp. 28,000 161,149 T RAD Co., Ltd. 373,000 1,182,561 Tachi-S Co., Ltd. 167,540 2,674,049 Tachikawa Corp. 50,800 259,596 THE JAPANESE SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ---------- Consumer Discretionary -- (Continued) * Tact Home Co., Ltd. 533 $1,290,084 # Taiho Kogyo Co., Ltd. 98,300 1,237,024 Taka-Q, Ltd. 22,500 74,038 Takamatsu Construction Group Co., Ltd. 90,500 1,694,320 Takata Corp. 1,500 37,833 # Take And Give Needs Co., Ltd. 50,170 1,027,856 Takihyo Co., Ltd. 76,000 313,197 # Tamron Co., Ltd. 95,200 2,031,298 # Tbk Co., Ltd. 116,000 643,547 * Ten Allied Co., Ltd. 50,000 164,381 Tigers Polymer Corp. 59,000 256,865 Toa Corp. 103,000 872,958 Toabo Corp. 529,000 431,738 Toei Animation Co., Ltd. 22,500 590,537 Toei Co., Ltd. 416,000 2,502,008 Tohokushinsha Film Corp. 24,300 237,937 Tokai Rika Co., Ltd. 295,500 6,266,121 Tokai Rubber Industries, Ltd. 225,500 2,075,840 Token Corp. 43,950 2,334,552 # Tokyo Derica Co., Ltd. 21,700 344,048 Tokyo Dome Corp. 984,200 6,768,438 Tokyo Soir Co., Ltd. 24,000 63,936 # Tokyu Recreation Co., Ltd. 79,000 461,889 # Tomy Co., Ltd. 379,793 1,957,268 Topre Corp. 214,500 3,009,639 # Toridoll.corp 94,600 890,700 # Tosho Co., Ltd. 21,200 325,892 #* Touei Housing Corp. 83,640 2,169,894 Toyo Tire & Rubber Co., Ltd. 1,080,000 6,310,337 TPR Co., Ltd. 117,900 2,240,892 TS Tech Co., Ltd. 78,700 2,948,523 TSI Holdings Co., Ltd. 516,595 3,651,450 # Tsukamoto Corp. Co., Ltd. 190,000 307,328 Tsutsumi Jewelry Co., Ltd. 49,300 1,201,223 Tv Tokyo Holdings Corp. 34,800 599,457 # U-Shin, Ltd. 148,800 1,106,874 # Unipres Corp. 205,800 4,152,663 # United Arrows, Ltd. 100,000 4,308,589 * Unitika, Ltd. 140,000 85,728 # Universal Entertainment Corp. 66,800 1,330,295 * Usen Corp. 659,680 1,640,684 # Village Vanguard Co., Ltd. 258 399,834 # VT Holdings Co., Ltd. 148,200 1,994,635 Wacoal Holdings Corp. 461,000 4,950,229 # Watabe Wedding Corp. 43,000 322,202 # WATAMI Co., Ltd. 120,300 1,849,088 # West Holdings Corp. 84,400 1,453,523 Wowow, Inc. 28,300 1,087,264 Xebio Co., Ltd. 145,500 3,146,266 Yachiyo Industry Co., Ltd. 8,800 62,801 # Yamato International, Inc. 20,400 90,801 Yellow Hat, Ltd. 95,400 1,737,534 THE JAPANESE SMALL COMPANY SERIES CONTINUED Shares Value++ ------- ------------ Consumer Discretionary -- (Continued) Yondoshi Holdings, Inc. 99,820 $ 1,345,464 Yonex Co., Ltd. 40,000 221,804 Yorozu Corp. 92,300 1,821,177 Yutaka Giken Co., Ltd. 1,000 23,483 # Zenrin Co., Ltd. 150,200 1,581,193 # Zensho Holdings Co., Ltd. 313,600 3,578,940 Zojirushi Corp. 83,000 333,316 ------------ Total Consumer Discretionary 484,663,246 ------------ Consumer Staples -- (8.2%) Aderans Co., Ltd. 68,300 836,759 Aeon Hokkaido Corp. 339,700 2,237,467 Ain Pharmaciez, Inc. 68,500 2,971,346 Arcs Co., Ltd. 190,900 3,578,232 Ariake Japan Co., Ltd. 102,000 2,467,521 # Artnature, Inc. 29,800 636,053 Axial Retailing, Inc. 68,200 1,109,601 Belc Co., Ltd. 40,300 733,195 Cawachi, Ltd. 88,200 1,658,974 Chubu Shiryo Co., Ltd. 110,700 644,028 Chuo Gyorui Co., Ltd. 93,000 217,971 Coca-Cola Central Japan Co., Ltd. 225,264 3,989,567 Cocokara fine, Inc. 86,760 2,471,295 CREATE SD HOLDINGS Co., Ltd. 36,200 1,319,638 # Daikokutenbussan Co., Ltd. 32,600 978,258 # Dr Ci:Labo Co., Ltd. 684 2,263,888 Dydo Drinco, Inc. 49,800 2,109,027 Echo Trading Co., Ltd. 11,000 81,121 Ezaki Glico Co., Ltd. 380,000 4,221,714 # Fancl Corp. 232,200 2,761,360 #* First Baking Co., Ltd. 183,000 289,033 Fuji Oil Co. Ltd/Osaka 367,600 6,699,430 Fujicco Co., Ltd. 117,600 1,460,579 # Fujiya Co., Ltd. 363,000 716,959 Hagoromo Foods Corp. 39,000 431,186 Heiwado Co., Ltd. 176,800 2,757,263 Hokkaido Coca-Cola Bottling Co., Ltd. 87,000 437,180 # Hokuto Corp. 129,500 2,484,315 House Foods Group, Inc. 70,500 1,116,695 Inageya Co., Ltd. 172,800 1,784,261 Itochu-Shokuhin Co., Ltd. 27,400 906,918 Itoham Foods, Inc. 954,800 4,024,782 # Iwatsuka Confectionery Co., Ltd. 300 15,473 # Izumiya Co., Ltd. 447,000 2,110,681 J-Oil Mills, Inc. 512,000 1,617,512 Kakiyasu Honten Co., Ltd. 15,800 220,317 Kameda Seika Co., Ltd. 69,100 2,039,566 Kansai Super Market Ltd. 13,700 125,193 # Kasumi Co., Ltd. 234,300 1,445,603 Kato Sangyo Co., Ltd. 113,200 2,323,762 Kenko Mayonnaise Co., Ltd. 39,800 361,283 KEY Coffee, Inc. 101,600 1,609,062 THE JAPANESE SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ---------- Consumer Staples -- (Continued) Kirindo Co., Ltd. 28,300 $ 188,546 # Kose Corp. 176,000 5,143,568 # Kotobuki Spirits Co., Ltd. 11,400 149,080 Kusuri No Aoki Co., Ltd. 25,100 1,567,588 Kyodo Shiryo Co., Ltd. 408,000 465,576 Kyokuyo Co., Ltd. 417,000 1,137,240 # Life Corp. 183,400 3,051,077 # Lion Corp. 57,000 342,089 # Mandom Corp. 106,500 3,656,230 Marudai Food Co., Ltd. 534,000 1,679,418 # Maruetsu, Inc. (The) 375,000 1,244,047 Maruha Nichiro Holdings, Inc. 2,315,069 4,439,691 Matsumotokiyoshi Holdings Co., Ltd. 175,300 5,915,032 Maxvalu Nishinihon Co., Ltd. 2,400 33,877 Maxvalu Tokai Co., Ltd. 57,500 817,394 Medical System Network Co., Ltd. 78,200 357,614 # Megmilk Snow Brand Co., Ltd. 259,000 3,678,065 Meito Sangyo Co., Ltd. 57,300 603,213 Milbon Co., Ltd. 50,514 2,102,450 # Ministop Co., Ltd. 86,700 1,353,175 Mitsubishi Shokuhin Co., Ltd. 87,800 2,459,017 Mitsui Sugar Co., Ltd. 529,850 1,901,332 # Miyoshi Oil & Fat Co., Ltd. 375,000 604,448 Morinaga & Co., Ltd. 1,075,000 2,287,515 # Morinaga Milk Industry Co., Ltd. 1,066,000 3,323,842 Morozoff, Ltd. 139,000 442,671 Nagatanien Co., Ltd. 125,000 1,134,971 Nakamuraya Co., Ltd. 189,000 779,493 Natori Co., Ltd. 20,300 199,537 Nichimo Co., Ltd. 170,000 346,435 # Nichirei Corp. 1,382,000 7,133,447 # Nihon Chouzai Co., Ltd. 6,780 192,021 Niitaka Co., Ltd. 7,260 77,142 Nippon Beet Sugar Manufacturing Co., Ltd. 619,000 1,166,032 Nippon Flour Mills Co., Ltd. 668,000 3,222,373 # Nippon Formula Feed Manufacturing Co., Ltd. 477,000 597,426 * Nippon Suisan Kaisha, Ltd. 1,326,000 2,704,638 # Nisshin Oillio Group, Ltd. (The) 639,000 2,147,123 Nissin Sugar Co., Ltd. 20,000 420,408 Nitto Fuji Flour Milling Co., Ltd. 64,000 201,351 Noevir Holdings Co., Ltd. 83,900 1,363,046 Oenon Holdings, Inc. 316,000 821,718 # OIE Sangyo Co., Ltd. 20,900 175,725 Okuwa Co., Ltd. 120,000 1,085,515 Olympic Group Corp. 64,900 481,184 # OUG Holdings, Inc. 29,000 53,444 # Pigeon Corp. 191,600 9,885,257 # Poplar Co., Ltd. 25,760 142,569 Prima Meat Packers, Ltd. 874,000 1,853,038 Qol Co., Ltd. 52,100 332,091 Riken Vitamin Co., Ltd. 79,200 1,975,299 Rock Field Co., Ltd. 56,700 1,087,824 THE JAPANESE SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ------------ Consumer Staples -- (Continued) Rokko Butter Co., Ltd. 31,800 $ 268,742 S Foods, Inc. 77,762 781,145 # S&B Foods, Inc. 499 18,556 Sakata Seed Corp. 177,600 2,424,123 San-A Co., Ltd. 91,800 2,616,299 Sapporo Holdings, Ltd. 1,874,000 8,333,114 # Shoei Foods Corp. 44,000 348,928 # Showa Sangyo Co., Ltd. 524,000 1,619,799 Sogo Medical Co., Ltd. 27,700 1,053,193 ST Corp. 78,900 802,143 Starzen Co., Ltd. 328,000 907,538 Takara Holdings, Inc. 702,500 6,442,135 # Tobu Store Co., Ltd. 205,000 538,445 # Toho Co. Ltd/Kobe 194,000 700,781 # Tohto Suisan Co., Ltd. 143,000 312,133 Torigoe Co., Ltd. (The) 86,600 586,149 Toyo Sugar Refining Co., Ltd. 157,000 164,778 UNY Group Holdings Co., Ltd. 1,183,300 7,466,985 # Uoriki Co., Ltd. 2,400 34,157 Valor Co., Ltd. 201,400 2,906,867 Warabeya Nichiyo Co., Ltd. 80,760 1,506,843 # Welcia Holdings Co., Ltd. 43,100 2,607,096 Yaizu Suisankagaku Industry Co., Ltd. 44,800 396,585 # Yamatane Corp. 535,000 1,005,499 Yamaya Corp. 22,800 328,434 Yaoko Co., Ltd. 43,100 1,605,539 # Yokohama Reito Co., Ltd. 238,400 1,886,878 Yomeishu Seizo Co., Ltd. 100,000 828,214 Yuasa Funashoku Co., Ltd. 112,000 269,382 Yutaka Foods Corp. 6,000 103,915 ------------ Total Consumer Staples 209,651,365 ------------ Energy -- (0.8%) # BP Castrol KK 66,500 314,264 #* Cosmo Oil Co., Ltd. 1,894,000 3,334,971 Fuji Kosan Co., Ltd. 33,100 211,351 Fuji Oil Co., Ltd. 293,100 1,051,920 Itochu Enex Co., Ltd. 311,000 1,694,704 # Japan Drilling Co., Ltd. 2,400 166,959 Japan Oil Transportation Co., Ltd. 84,000 194,150 # Kanto Natural Gas Development, Ltd. 155,000 1,092,815 #* Kyoei Tanker Co., Ltd. 111,000 271,092 Mitsuuroko Holdings Co., Ltd. 195,800 942,918 Modec, Inc. 93,800 2,844,050 # Nippon Gas Co., Ltd. 154,000 1,722,025 Nippon Seiro Co., Ltd. 64,000 166,748 # Sala Corp. 128,500 695,091 San-Ai Oil Co., Ltd. 314,000 1,356,111 Shinko Plantech Co., Ltd. 227,900 1,840,010 # Sinanen Co., Ltd. 268,000 1,045,311 Toa Oil Co., Ltd. 427,000 800,740 THE JAPANESE SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ----------- Energy -- (Continued) Toyo Kanetsu KK 473,000 $ 1,391,037 ----------- Total Energy 21,136,267 ----------- Financials -- (9.7%) 77 Bank, Ltd. (The) 116,000 573,720 Aichi Bank, Ltd. (The) 54,200 2,463,230 # Airport Facilities Co., Ltd. 136,670 1,195,491 Aizawa Securities Co., Ltd. 179,600 1,222,475 Akita Bank, Ltd. (The) 1,120,400 2,813,003 Anabuki Kosan, Inc. 6,000 19,721 Aomori Bank, Ltd. (The) 1,136,000 2,963,061 Asax Co., Ltd. 1,700 24,344 Awa Bank, Ltd. (The) 1,095,000 5,718,585 # Bank of Iwate, Ltd. (The) 105,100 4,773,216 Bank of Kochi, Ltd. (The) 178,000 202,687 Bank of Nagoya, Ltd. (The) 955,297 3,276,080 Bank of Okinawa, Ltd. (The) 110,300 4,269,143 Bank of Saga, Ltd. (The) 771,000 1,656,802 Bank of the Ryukyus, Ltd. 226,180 2,468,285 * Chiba Kogyo Bank, Ltd. (The) 230,600 1,757,624 Chukyo Bank, Ltd. (The) 676,000 1,219,384 #* Cosmos Initia Co., Ltd. 27,300 175,340 # Daibiru Corp. 311,100 3,964,531 Daiichi Commodities Co., Ltd. 13,700 72,129 Daiko Clearing Services Corp. 43,000 297,831 Daikyo, Inc. 1,923,000 5,973,522 Daisan Bank, Ltd. (The) 750,000 1,229,174 Daishi Bank, Ltd. (The) 2,006,000 7,003,326 Daito Bank, Ltd. (The) 898,000 943,819 Dream Incubator, Inc. 13 23,130 Ehime Bank, Ltd. (The) 810,000 1,948,524 Eighteenth Bank, Ltd. (The) 1,093,000 2,517,740 FIDEA Holdings Co., Ltd. 542,500 1,070,197 Financial Products Group Co., Ltd. 7,200 79,006 Fukui Bank, Ltd. (The) 1,205,000 2,628,024 # Fukushima Bank, Ltd. (The) 1,368,000 1,214,070 Fuyo General Lease Co., Ltd. 84,500 3,505,674 Goldcrest Co., Ltd. 102,890 2,752,705 # Heiwa Real Estate Co., Ltd. 252,000 4,564,381 Higashi-Nippon Bank, Ltd. (The) 832,000 1,836,180 Higo Bank, Ltd. (The) 1,057,000 6,017,035 Hokkoku Bank, Ltd. (The) 1,620,000 5,987,282 Hokuetsu Bank, Ltd. (The) 1,206,000 2,501,199 Hyakugo Bank, Ltd. (The) 1,441,609 5,861,977 Hyakujushi Bank, Ltd. (The) 1,507,000 5,491,639 IBJ Leasing Co., Ltd. 69,100 1,945,738 Iwai Cosmo Holdings, Inc. 105,900 1,328,426 # Jimoto Holdings, Inc. 132,800 291,784 Jowa Holdings Co., Ltd. 37,700 1,128,688 Juroku Bank, Ltd. (The) 1,985,000 7,771,817 Kabuki-Za Co., Ltd. 39,000 1,939,337 Kagoshima Bank, Ltd. (The) 910,000 6,125,504 THE JAPANESE SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ---------- Financials -- (Continued) Kansai Urban Banking Corp. 1,030,000 $1,227,573 Keihanshin Building Co., Ltd. 162,400 897,459 Keiyo Bank, Ltd. (The) 1,187,000 6,045,068 Kita-Nippon Bank, Ltd. (The) 50,006 1,230,814 * Kiyo Bank Ltd (The) 382,290 5,081,389 Kobayashi Yoko Co., Ltd. 36,700 98,681 # Kyokuto Securities Co., Ltd. 9,100 159,298 # Land Business Co., Ltd. 54,200 240,969 Marusan Securities Co., Ltd. 385,500 3,177,313 Michinoku Bank, Ltd. (The) 795,000 1,652,507 Mie Bank, Ltd. (The) 440,000 896,234 Minato Bank, Ltd. (The) 1,076,000 1,876,376 Mito Securities Co., Ltd. 274,000 1,315,755 Miyazaki Bank, Ltd. (The) 938,000 2,722,375 # Money Partners Group Co., Ltd. 52,400 147,662 Musashino Bank, Ltd. (The) 196,000 6,876,837 # Nagano Bank, Ltd. (The) 496,000 893,696 Nanto Bank, Ltd. (The) 918,000 3,634,752 * New Real Property K.K. 43,900 -- # Nisshin Fudosan Co. 105,500 841,603 North Pacific Bank, Ltd. 1,161,100 5,069,732 Ogaki Kyoritsu Bank, Ltd. (The) 2,012,000 5,667,424 Oita Bank, Ltd. (The) 973,900 3,572,499 Okasan Securities Group, Inc. 396,000 3,424,316 Relo Holdings, Inc. 42,900 1,988,996 Ricoh Leasing Co., Ltd. 97,500 2,791,825 SAMTY Co., Ltd. 45 43,094 San-In Godo Bank, Ltd. (The) 961,000 6,976,501 Sankyo Frontier Co., Ltd. 2,000 15,007 # Sawada Holdings Co., Ltd. 113,300 1,063,982 Senshu Ikeda Holdings, Inc. 1,024,200 5,045,059 Shiga Bank, Ltd. (The) 736,000 4,022,503 Shikoku Bank, Ltd. (The) 1,055,000 2,443,480 SHIMANE BANK, Ltd. (The) 15,600 205,082 Shimizu Bank, Ltd. (The) 46,300 1,302,111 # Sumitomo Real Estate Sales Co., Ltd. 61,360 2,008,920 Taiko Bank, Ltd. (The) 189,000 420,633 Takagi Securities Co., Ltd. 183,000 704,763 Takara Leben Co., Ltd. 21,300 84,060 # TOC Co., Ltd. 435,250 3,535,951 Tochigi Bank, Ltd. (The) 745,000 2,848,866 Toho Bank, Ltd. (The) 1,306,200 4,100,579 Tohoku Bank, Ltd. (The) 541,000 805,666 Tokyo Rakutenchi Co., Ltd. 218,000 1,092,462 Tokyo Theatres Co., Inc. 380,000 636,264 Tokyo Tomin Bank, Ltd. (The) 204,700 2,193,488 * Tokyu Fudosan Holdings Corp. 400,427 3,933,820 Tomato Bank, Ltd. 476,000 838,425 TOMONY Holdings, Inc. 854,850 3,229,205 # Tosei Corp. 46,800 375,660 Tottori Bank, Ltd. (The) 332,000 638,979 Towa Bank, Ltd. (The) 1,623,000 1,484,372 THE JAPANESE SMALL COMPANY SERIES CONTINUED Shares Value++ ------- ------------ Financials -- (Continued) # Toyo Securities Co., Ltd. 380,000 $ 1,301,613 Tsukuba Bank, Ltd. (The) 462,800 1,618,398 Yachiyo Bank, Ltd. (The) 72,300 1,972,275 Yamagata Bank, Ltd. (The) 805,500 3,354,064 Yamanashi Chuo Bank, Ltd. (The) 938,000 3,960,287 ------------ Total Financials 248,593,302 ------------ Health Care -- (4.2%) # A.S. One Corp. 76,368 1,686,052 ASKA Pharmaceutical Co., Ltd. 131,000 972,196 Biofermin Pharmaceutical Co., Ltd. 5,600 140,783 BML, Inc. 60,900 2,080,785 # CMIC Holdings Co., Ltd. 63,300 870,242 Create Medic Co., Ltd. 28,000 269,866 Daito Pharmaceutical Co., Ltd. 44,100 635,392 Eiken Chemical Co., Ltd. 91,000 1,689,089 # EPS Corp. 1,606 1,668,782 FALCO SD HOLDINGS Co., Ltd. 38,700 505,374 Fuji Pharma Co., Ltd. 36,500 648,896 Fuso Pharmaceutical Industries, Ltd. 427,000 1,361,762 Hitachi Medical Corp. 86,000 1,203,437 Hogy Medical Co., Ltd. 66,800 3,886,780 Iwaki & Co., Ltd. 122,000 270,905 Japan Medical Dynamic Marketing, Inc. 44,900 137,619 # JMS Co., Ltd. 156,000 508,857 # Kaken Pharmaceutical Co., Ltd. 417,000 6,512,147 Kawasumi Laboratories, Inc. 67,700 440,159 Kissei Pharmaceutical Co., Ltd. 106,300 2,460,824 KYORIN Holdings, Inc. 265,900 5,668,506 # Mani, Inc. 12,100 464,188 # Message Co., Ltd. 81,400 2,297,663 # Mochida Pharmaceutical Co., Ltd. 65,599 4,152,012 Nagaileben Co., Ltd. 58,000 957,128 Nakanishi, Inc. 3,600 511,881 Nichi-iko Pharmaceutical Co., Ltd. 81,100 2,021,882 Nichii Gakkan Co. 260,500 2,610,908 Nihon Kohden Corp. 180,100 7,417,704 Nikkiso Co., Ltd. 350,000 4,330,008 Nippon Chemiphar Co., Ltd. 180,000 844,109 Nippon Shinyaku Co., Ltd. 269,000 4,636,916 # Nipro Corp. 372,600 3,414,480 Nissui Pharmaceutical Co., Ltd. 70,500 778,963 Paramount Bed Holdings Co., Ltd. 73,400 2,537,203 # Rion Co., Ltd. 23,000 348,464 Rohto Pharmaceutical Co., Ltd. 475,000 6,893,342 Seikagaku Corp. 179,800 2,332,681 Ship Healthcare Holdings, Inc. 185,700 7,620,076 Shofu, Inc. 24,800 224,237 Software Service, Inc. 11,200 421,101 Taiko Pharmaceutical Co., Ltd. 40,700 701,148 Techno Medica Co., Ltd. 17,400 378,920 Toho Holdings Co., Ltd. 270,300 5,233,112 THE JAPANESE SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ------------ Health Care -- (Continued) Tokai Corp/Gifu 43,400 $ 1,153,585 Torii Pharmaceutical Co., Ltd. 65,200 1,690,635 # Towa Pharmaceutical Co., Ltd. 55,400 2,771,985 # Tsukui Corp. 170,000 1,884,190 Vital KSK Holdings, Inc. 184,400 1,293,386 #* Wakamoto Pharmaceutical Co., Ltd. 107,000 292,605 # ZERIA Pharmaceutical Co., Ltd. 105,599 2,503,449 ------------ Total Health Care 106,336,414 ------------ Industrials -- (26.4%) #* A&A Material Corp. 127,000 193,239 Advan Co., Ltd. 96,200 1,185,032 Advanex, Inc. 73,000 93,859 Aeon Delight Co., Ltd. 9,600 186,548 Aica Kogyo Co., Ltd. 282,300 5,779,148 # Aichi Corp. 172,400 911,488 Aida Engineering, Ltd. 302,300 2,922,203 Alinco, Inc. 47,300 452,929 Alps Logistics Co., Ltd. 50,700 510,355 Altech Corp. 43,850 470,420 Anest Iwata Corp. 169,000 828,526 Asahi Diamond Industrial Co., Ltd. 303,800 2,949,166 # Asahi Kogyosha Co., Ltd. 124,000 445,385 #* Asanuma Corp. 796,000 1,310,079 Asia Air Survey Co., Ltd. 26,000 80,310 Asunaro Aoki Construction Co., Ltd. 154,000 900,181 Bando Chemical Industries, Ltd. 452,000 1,763,608 Benefit One, Inc. 98,200 977,868 Bunka Shutter Co., Ltd. 284,000 1,592,403 Central Glass Co., Ltd. 1,125,000 3,912,593 Central Security Patrols Co., Ltd. 43,700 411,668 Chiyoda Integre Co., Ltd. 50,800 879,801 Chudenko Corp. 130,500 2,149,955 # Chugai Ro Co., Ltd. 384,000 1,004,995 CKD Corp. 322,100 2,990,056 # Cosel Co., Ltd. 127,900 1,601,331 CTI Engineering Co., Ltd. 60,700 547,116 Dai-Dan Co., Ltd. 156,000 833,713 Daido Kogyo Co., Ltd. 171,000 491,296 # Daifuku Co., Ltd. 505,000 6,493,984 Daihatsu Diesel Manufacturing Co., Ltd. 74,000 380,016 Daihen Corp. 586,000 2,503,726 # Daiho Corp. 763,000 2,866,467 Daiichi Jitsugyo Co., Ltd. 238,000 1,020,745 # Daiki Ataka Engineering Co., Ltd. 63,000 303,166 # Daiseki Co., Ltd. 200,163 3,931,172 Daiseki Eco. Solution Co., Ltd. 7,200 144,303 Daiwa Industries, Ltd. 178,000 1,120,089 * DANTO HOLDINGS Corp. 165,000 201,907 Denyo Co., Ltd. 85,100 1,048,348 Dijet Industrial Co., Ltd. 80,000 131,900 # DMG Mori Seiki Co., Ltd. 551,500 8,946,428 THE JAPANESE SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ---------- Industrials -- (Continued) DMW Corp. 4,800 $ 78,132 Duskin Co., Ltd. 268,200 5,451,415 Ebara Jitsugyo Co., Ltd. 35,500 485,195 Eidai Co., Ltd. 71,000 386,390 Emori & Co., Ltd. 28,000 464,461 en-japan, Inc. 47,500 1,060,937 # Endo Lighting Corp. 44,500 1,025,771 * Enshu, Ltd. 281,000 459,971 * Fudo Tetra Corp. 842,500 1,633,835 Fujikura, Ltd. 2,042,000 9,317,972 #* Fujisash Co., Ltd. 296,200 735,932 Fujitec Co., Ltd. 384,000 4,721,847 Fukuda Corp. 511,000 2,119,250 Fukushima Industries Corp. 66,400 892,686 # Fukuyama Transporting Co., Ltd. 666,400 4,259,489 * FULLCAST Holdings Co., Ltd. 42,600 124,206 Funai Consulting, Inc. 112,400 897,887 Furukawa Co., Ltd. 1,536,000 3,202,202 # Furukawa Electric Co., Ltd. 3,973,000 9,208,531 Furusato Industries, Ltd. 50,600 524,089 Futaba Corp. 154,300 2,137,570 Gecoss Corp. 112,400 867,999 Glory, Ltd. 305,000 7,563,052 Hamakyorex Co., Ltd. 39,100 1,081,816 Hanwa Co., Ltd. 1,084,000 5,043,514 Harmonic Drive Systems, Inc. 700 15,070 # Hazama Ando Corp. 796,000 2,941,145 Hibiya Engineering, Ltd. 131,300 1,597,213 Hisaka Works, Ltd. 115,000 1,031,850 Hitachi Koki Co., Ltd. 291,400 2,136,046 # Hitachi Metals Techno, Ltd. 56,500 538,870 Hitachi Transport System, Ltd. 108,100 1,714,141 Hitachi Zosen Corp. 879,499 6,993,194 Hokuetsu Industries Co., Ltd. 85,000 274,480 Hokuriku Electrical Construction Co., Ltd. 64,000 261,432 Hosokawa Micron Corp. 166,000 1,181,141 Howa Machinery, Ltd. 70,500 644,354 Ichiken Co., Ltd. 87,000 165,830 ICHINEN HOLDINGS Co., Ltd. 100,300 716,880 # Idec Corp. 149,200 1,339,740 Iino Kaiun Kaisha, Ltd. 260,200 1,713,598 Inaba Denki Sangyo Co., Ltd. 128,500 3,868,193 Inaba Seisakusho Co., Ltd. 58,800 764,009 Inabata & Co., Ltd. 317,300 3,111,966 #* Inui Steamship Co., Ltd. 128,800 506,103 Inui Warehouse Co., Ltd. 23,600 241,692 # Iseki & Co., Ltd. 1,003,000 3,261,151 # Ishii Iron Works Co., Ltd. 57,000 165,198 Itoki Corp. 205,900 1,044,126 #* Iwasaki Electric Co., Ltd. 367,000 778,140 Iwatani Corp. 1,022,000 4,706,865 Jalux, Inc. 40,800 478,154 THE JAPANESE SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ---------- Industrials -- (Continued) # Jamco Corp. 80,000 $1,133,770 # Japan Airport Terminal Co., Ltd. 155,700 3,775,266 # Japan Foundation Engineering Co., Ltd. 162,500 698,325 Japan Pulp & Paper Co., Ltd. 469,000 1,514,898 Japan Transcity Corp. 249,000 827,665 JK Holdings Co., Ltd. 92,540 573,173 Kamei Corp. 153,000 1,139,274 Kanaden Corp. 116,000 774,349 Kanagawa Chuo Kotsu Co., Ltd. 192,000 991,855 Kanamoto Co., Ltd. 135,000 3,646,529 Kandenko Co., Ltd. 576,000 3,639,613 Kanematsu Corp. 2,253,625 3,056,960 * Kanematsu-NNK Corp. 125,000 211,720 Katakura Industries Co., Ltd. 132,100 1,567,229 Kato Works Co., Ltd. 296,000 2,029,447 # KAWADA TECHNOLOGIES, Inc. 62,300 1,853,614 Kawasaki Kinkai Kisen Kaisha, Ltd. 99,000 294,927 # Kawasaki Kisen Kaisha, Ltd. 213,000 488,287 # Keihin Co. Ltd/Minato-Ku Tokyo Japan 245,000 465,378 * KI Holdings Co., Ltd. 54,000 113,846 King Jim Co., Ltd. 30,400 213,486 Kinki Sharyo Co., Ltd. 185,000 565,529 Kintetsu World Express, Inc. 84,200 3,213,711 Kitagawa Iron Works Co., Ltd. 502,000 1,054,119 Kitano Construction Corp. 242,000 572,057 Kitazawa Sangyo Co., Ltd. 37,000 67,067 Kito Corp. 46,900 739,547 Kitz Corp. 508,700 2,191,991 Koike Sanso Kogyo Co., Ltd. 149,000 348,032 Kokusai Co., Ltd. 19,600 181,920 Kokuyo Co., Ltd. 455,525 3,486,000 # KOMAIHALTEC, Inc. 213,000 707,085 Komatsu Wall Industry Co., Ltd. 48,300 1,019,359 Komori Corp. 407,800 6,412,688 Kondotec, Inc. 114,100 870,612 #* Kosaido Co., Ltd. 284,200 1,647,113 KRS Corp. 37,200 407,375 # Kuroda Electric Co., Ltd. 174,000 2,437,352 Kyodo Printing Co., Ltd. 540,000 1,503,636 * Kyokuto Boeki Kaisha, Ltd. 58,000 125,388 Kyokuto Kaihatsu Kogyo Co., Ltd. 210,100 2,627,052 Kyoritsu Printing Co., Ltd. 5,400 14,812 Kyosan Electric Manufacturing Co., Ltd. 278,000 923,141 Kyowa Exeo Corp. 482,300 5,727,079 Kyudenko Corp. 225,000 1,353,579 * Lonseal Corp. 116,000 147,995 Maeda Corp. 845,000 6,079,622 Maeda Road Construction Co., Ltd. 360,000 6,401,143 Maezawa Industries, Inc. 35,700 134,709 Maezawa Kasei Industries Co., Ltd. 50,700 539,341 Maezawa Kyuso Industries Co., Ltd. 52,800 689,320 Makino Milling Machine Co., Ltd. 576,000 3,771,587 THE JAPANESE SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ----------- Industrials -- (Continued) Marubeni Construction Material Lease Co., Ltd. 75,000 $ 170,667 Marufuji Sheet Piling Co., Ltd. 7,000 18,756 Maruka Machinery Co., Ltd. 28,100 419,788 # Maruyama Manufacturing Co., Inc. 237,000 653,493 Maruzen Showa Unyu Co., Ltd. 309,000 1,134,805 Matsuda Sangyo Co., Ltd. 82,582 1,156,590 Matsui Construction Co., Ltd. 128,600 547,138 Max Co., Ltd. 197,000 2,214,169 # Meidensha Corp. 989,050 3,699,073 # Meiji Shipping Co., Ltd. 114,200 504,151 Meisei Industrial Co., Ltd. 221,000 949,050 Meitec Corp. 156,900 4,182,431 Meito Transportation Co., Ltd. 22,000 144,992 # Meiwa Corp. 166,400 549,804 Mesco, Inc. 22,000 145,289 # Minebea Co., Ltd. 1,975,000 10,933,515 Mirait Holdings Corp. 358,985 3,185,008 Mitani Corp. 64,700 1,397,488 #* Mitsubishi Kakoki Kaisha, Ltd. 369,000 738,353 Mitsubishi Nichiyu Forklift Co., Ltd. 147,000 729,412 Mitsubishi Pencil Co., Ltd. 104,500 2,727,146 Mitsuboshi Belting Co., Ltd. 296,000 1,525,884 Mitsui Engineering & Shipbuilding Co., Ltd. 4,170,000 8,185,614 # Mitsui Matsushima Co., Ltd. 761,000 1,182,724 # Mitsui-Soko Co., Ltd. 220,000 1,105,241 Mitsumura Printing Co., Ltd. 93,000 248,880 # Miura Co., Ltd. 157,300 4,126,016 #* Miyaji Engineering Group, Inc. 674,175 1,495,206 Morita Holdings Corp. 239,000 2,102,359 Moshi Moshi Hotline, Inc. 240,800 3,026,761 # NAC Co., Ltd. 50,800 914,360 # Nachi-Fujikoshi Corp. 913,000 4,482,487 Nagase & Co., Ltd. 94,800 1,180,895 Nakabayashi Co., Ltd. 217,000 473,426 Nakano Corp. 5,500 14,077 Namura Shipbuilding Co., Ltd. 182,100 2,636,857 Narasaki Sangyo Co., Ltd. 56,000 115,996 NDS Co., Ltd. 231,000 665,696 NEC Capital Solutions, Ltd. 45,100 1,117,760 # Nichias Corp. 553,000 3,741,314 Nichiban Co., Ltd. 122,000 476,900 Nichiden Corp. 24,500 577,533 Nichiha Corp. 132,380 1,899,711 Nichireki Co., Ltd. 138,000 1,428,411 # Nihon M&A Center, Inc. 19,300 1,488,523 Nikkato Corp. 700 3,035 Nikko Co., Ltd. 149,000 866,153 Nippo Corp. 315,000 5,909,702 # Nippon Carbon Co., Ltd. 663,000 1,292,101 * Nippon Conveyor Co., Ltd. 170,000 263,931 Nippon Densetsu Kogyo Co., Ltd. 211,000 2,637,490 Nippon Filcon Co., Ltd. 70,900 317,262 THE JAPANESE SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ---------- Industrials -- (Continued) Nippon Hume Corp. 112,000 $1,012,996 # Nippon Jogesuido Sekkei Co., Ltd. 29,500 372,108 # Nippon Kanzai Co., Ltd. 43,000 781,916 Nippon Koei Co., Ltd. 372,000 1,750,014 Nippon Konpo Unyu Soko Co., Ltd. 313,300 5,461,382 # Nippon Parking Development Co., Ltd. 7,887 611,403 Nippon Rietec Co., Ltd. 7,000 51,037 Nippon Road Co., Ltd. (The) 395,000 2,460,082 Nippon Seisen Co., Ltd. 103,000 470,693 # Nippon Sharyo, Ltd. 391,000 2,061,426 #* Nippon Sheet Glass Co., Ltd. 5,424,000 7,034,712 Nippon Signal Co., Ltd. 291,200 2,214,593 Nippon Steel & Sumikin Bussan 882,599 2,684,013 Nippon Steel & Sumikin Texeng 274,000 1,116,981 Nippon Thompson Co., Ltd. 375,000 2,040,986 Nippon Tungsten Co., Ltd. 62,000 100,228 Nishi-Nippon Railroad Co., Ltd. 627,000 2,401,978 Nishimatsu Construction Co., Ltd. 1,855,000 6,548,878 Nishio Rent All Co., Ltd. 84,700 2,292,377 # Nissei ASB Machine Co., Ltd. 6,900 146,097 # Nissei Corp. 37,900 347,409 Nissei Plastic Industrial Co., Ltd. 265,600 1,732,895 # Nisshinbo Holdings, Inc. 834,000 7,366,107 Nissin Corp. 377,000 1,105,766 # Nissin Electric Co., Ltd. 284,000 1,806,592 Nitta Corp. 112,800 2,375,859 Nitto Boseki Co., Ltd. 838,000 3,896,316 Nitto Kogyo Corp. 149,000 2,355,771 Nitto Kohki Co., Ltd. 68,300 1,290,568 Nitto Seiko Co., Ltd. 138,000 510,738 Nittoc Construction Co., Ltd. 154,100 672,936 # Nittoku Engineering Co., Ltd. 79,500 706,296 Noda Corp. 158,100 942,540 Nomura Co., Ltd. 220,000 1,994,424 Noritake Co., Ltd/Nagoya 588,000 1,598,845 Noritz Corp. 164,200 3,806,002 #* NS United Kaiun Kaisha, Ltd. 574,000 1,740,869 #* NTN Corp. 982,000 4,720,324 # Obara Group, Inc. 58,700 1,484,883 Obayashi Road Corp. 175,000 1,027,162 # Oiles Corp. 138,142 3,086,495 Okabe Co., Ltd. 217,600 2,913,372 * Okamoto Machine Tool Works, Ltd. 166,000 211,727 # Okamura Corp. 364,900 2,637,173 * OKI Electric Cable Co., Ltd. 90,000 154,774 # OKK Corp. 419,000 611,568 # OKUMA Corp. 792,000 6,690,276 Okumura Corp. 951,400 4,517,399 Onoken Co., Ltd. 75,600 909,193 Organo Corp. 221,000 1,071,326 OSG Corp. 401,700 6,498,156 # Outsourcing, Inc. 28,700 288,564 THE JAPANESE SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ---------- Industrials -- (Continued) # Oyo Corp. 109,600 $1,810,516 # Pasco Corp. 101,000 419,669 Pasona Group, Inc. 969 759,254 Penta-Ocean Construction Co., Ltd. 1,646,000 4,976,595 Pilot Corp. 81,100 3,080,033 Prestige International, Inc. 65,200 612,107 Pronexus, Inc. 133,200 865,253 # PS Mitsubishi Construction Co., Ltd. 37,300 198,121 Raito Kogyo Co., Ltd. 286,500 2,378,633 Rheon Automatic Machinery Co., Ltd. 64,000 186,646 Ryobi, Ltd. 710,200 3,138,765 Sakai Heavy Industries, Ltd. 224,000 924,106 Sakai Moving Service Co., Ltd. 10,300 323,007 Sanki Engineering Co., Ltd. 340,000 2,122,854 # Sanko Metal Industrial Co., Ltd. 136,000 380,997 Sankyo Tateyama, Inc. 171,000 3,613,676 Sankyu, Inc. 1,545,000 5,530,234 Sanritsu Corp. 9,500 51,528 # Sanwa Holdings Corp. 1,215,000 7,786,723 Sanyo Denki Co., Ltd. 223,000 1,457,493 Sanyo Engineering & Construction, Inc. 48,000 207,309 Sanyo Industries, Ltd. 99,000 187,610 #* Sasebo Heavy Industries Co., Ltd. 701,000 730,149 # Sata Construction Co., Ltd. 384,000 618,593 # Sato Holdings Corp. 115,100 2,334,976 Sato Shoji Corp. 65,300 399,752 SBS Holdings, Inc. 6,000 88,575 Secom Joshinetsu Co., Ltd. 33,900 838,516 Seibu Electric Industry Co., Ltd. 67,000 297,660 Seika Corp. 322,000 784,580 #* Seikitokyu Kogyo Co., Ltd. 713,000 1,026,947 Seino Holdings Co., Ltd. 731,000 7,219,534 Sekisui Jushi Corp. 168,000 2,445,973 # Senko Co., Ltd. 497,000 2,680,426 # Senshu Electric Co., Ltd. 37,300 455,976 # Shibusawa Warehouse Co., Ltd. (The) 265,000 1,130,942 Shibuya Kogyo Co., Ltd. 44,100 834,937 Shima Seiki Manufacturing, Ltd. 152,300 3,124,572 Shin Nippon Air Technologies Co., Ltd. 88,780 557,446 Shin-Keisei Electric Railway Co., Ltd. 182,000 700,382 Shinmaywa Industries, Ltd. 473,000 3,705,926 Shinnihon Corp. 194,800 678,475 Shinsho Corp. 254,000 526,437 Shinwa Co. Ltd/Nagoya 8,400 97,609 Shoko Co., Ltd. 390,000 627,832 # Showa Aircraft Industry Co., Ltd. 27,000 312,717 # Sinfonia Technology Co., Ltd. 574,000 1,017,731 # Sinko Industries, Ltd. 87,000 716,710 Sintokogio, Ltd. 259,800 1,954,942 Soda Nikka Co., Ltd. 67,000 282,968 Sodick Co., Ltd. 259,300 1,212,080 Sohgo Security Services Co., Ltd. 338,100 6,834,701 THE JAPANESE SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ---------- Industrials -- (Continued) Sotetsu Holdings, Inc. 625,000 $2,324,778 # Space Co., Ltd. 73,420 683,873 Srg Takamiya Co., Ltd. 10,200 89,361 Subaru Enterprise Co., Ltd. 59,000 227,275 Sugimoto & Co., Ltd. 34,100 313,149 Sumitomo Densetsu Co., Ltd. 98,100 1,448,908 #* Sumitomo Mitsui Construction Co., Ltd. 2,130,400 2,783,067 Sumitomo Precision Products Co., Ltd. 180,000 778,589 Sumitomo Warehouse Co., Ltd. (The) 754,000 4,422,103 * SWCC Showa Holdings Co., Ltd. 1,732,000 1,976,056 Tadano, Ltd. 213,579 2,936,982 Taihei Dengyo Kaisha, Ltd. 193,000 1,359,041 Taiheiyo Kouhatsu, Inc. 353,000 392,719 Taikisha, Ltd. 162,300 3,772,641 # Takada Kiko Co., Ltd. 90,000 208,280 Takano Co., Ltd. 51,100 251,244 # Takaoka Toko Holdings Co., Ltd. 44,820 910,302 Takara Printing Co., Ltd. 38,055 263,058 Takara Standard Co., Ltd. 509,000 4,095,310 Takasago Thermal Engineering Co., Ltd. 328,800 2,747,838 # Takashima & Co., Ltd. 192,000 541,962 # Takeei Corp. 83,400 1,312,255 # Takeuchi Manufacturing Co., Ltd. 66,400 1,400,589 # Takigami Steel Construction Co., Ltd. (The) 50,000 200,755 # Takisawa Machine Tool Co., Ltd. 349,000 520,320 # Takuma Co., Ltd. 392,000 3,341,219 # Tanseisha Co., Ltd. 106,000 716,577 Tatsuta Electric Wire and Cable Co., Ltd. 260,200 1,837,183 TECHNO ASSOCIE Co., Ltd. 58,400 601,185 Techno Ryowa, Ltd. 71,390 331,158 # Teikoku Electric Manufacturing Co., Ltd. 35,300 830,981 Teikoku Sen-I Co., Ltd. 119,000 1,093,651 #* Tekken Corp. 763,000 2,495,008 # Temp Holdings Co., Ltd. 48,600 1,415,619 # Teraoka Seisakusho Co., Ltd. 53,600 218,108 #* Toa Corp. 1,060,000 2,575,937 TOA ROAD Corp. 246,000 1,342,644 #* Tobishima Corp. 640,500 1,215,944 Tocalo Co., Ltd. 81,900 1,340,903 Toda Corp. 1,143,000 4,178,614 Toenec Corp. 212,000 1,322,348 TOKAI Holdings Corp. 484,300 1,715,229 Tokai Lease Co., Ltd. 154,000 280,932 Tokyo Energy & Systems, Inc. 143,000 760,933 # Tokyo Keiki, Inc. 319,000 988,836 #* Tokyo Kikai Seisakusho, Ltd. 225,000 273,926 Tokyo Sangyo Co., Ltd. 81,000 277,315 #* Tokyu Construction Co., Ltd. 102,920 604,771 Toli Corp. 252,000 529,973 # Tomoe Corp. 150,100 767,710 # Tomoe Engineering Co., Ltd. 36,200 576,447 Tonami Holdings Co., Ltd. 331,000 722,309 THE JAPANESE SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ------------ Industrials -- (Continued) Toppan Forms Co., Ltd. 280,000 $ 2,611,447 Torishima Pump Manufacturing Co., Ltd. 111,200 989,976 Toshiba Machine Co., Ltd. 641,000 3,315,198 Toshiba Plant Systems & Services Corp. 228,450 4,030,852 # Tosho Printing Co., Ltd. 243,000 651,170 Totetsu Kogyo Co., Ltd. 140,300 3,159,868 # Toyo Construction Co., Ltd. 340,800 1,204,148 # Toyo Denki Seizo - Toyo Electric Manufacturing Co., Ltd. 213,000 695,439 Toyo Engineering Corp. 653,400 2,784,115 Toyo Machinery & Metal Co., Ltd. 42,400 167,804 # Toyo Tanso Co., Ltd. 68,900 1,305,791 # Toyo Wharf & Warehouse Co., Ltd. 317,000 858,974 Trancom Co., Ltd. 40,000 1,251,573 Trinity Industrial Corp. 19,000 81,248 Trusco Nakayama Corp. 107,400 2,286,585 Tsubakimoto Chain Co. 779,700 5,165,432 Tsubakimoto Kogyo Co., Ltd. 117,000 315,714 #* Tsudakoma Corp. 272,000 446,235 # Tsugami Corp. 368,000 1,849,680 Tsukishima Kikai Co., Ltd. 127,000 1,337,406 Tsurumi Manufacturing Co., Ltd. 94,000 963,018 TTK Co., Ltd. 62,000 269,579 Uchida Yoko Co., Ltd. 331,000 971,166 # Ueki Corp. 364,000 810,557 Union Tool Co. 64,700 1,487,242 Ushio, Inc. 267,800 3,382,551 Utoc Corp. 92,900 307,193 #* Wakachiku Construction Co., Ltd. 1,204,000 1,635,218 Wakita & Co., Ltd. 197,000 2,565,308 # Weathernews, Inc. 37,900 819,744 # Yahagi Construction Co., Ltd. 147,200 1,030,990 YAMABIKO Corp. 34,482 1,054,552 Yamato Corp. 82,000 298,661 Yamaura Corp. 25,000 74,502 Yamazen Corp. 305,500 1,937,327 Yasuda Warehouse Co., Ltd. (The) 100,100 1,250,045 Yokogawa Bridge Holdings Corp. 170,400 2,426,594 Yondenko Corp. 132,800 469,030 Yuasa Trading Co., Ltd. 996,000 2,011,072 Yuken Kogyo Co., Ltd. 183,000 404,041 Yurtec Corp. 256,000 831,483 Yusen Logistics Co., Ltd. 103,200 1,165,156 # Yushin Precision Equipment Co., Ltd. 29,134 590,711 ------------ Total Industrials 677,590,975 ------------ Information Technology -- (9.2%) # A&D Co., Ltd. 94,100 614,051 Ai Holdings Corp. 255,500 3,274,035 Aichi Tokei Denki Co., Ltd. 192,000 561,362 # Aiphone Co., Ltd. 84,900 1,390,495 # Allied Telesis Holdings KK 470,700 450,718 Alpha Systems, Inc. 35,560 486,449 THE JAPANESE SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ---------- Information Technology -- (Continued) * Alps Electric Co., Ltd. 1,084,100 $9,513,585 Amano Corp. 351,700 3,445,665 Anritsu Corp. 500 6,556 AOI Electronic Co., Ltd. 35,200 532,728 Argo Graphics, Inc. 25,600 419,538 Arisawa Manufacturing Co., Ltd. 186,600 1,260,207 Asahi Net, Inc. 74,000 367,147 # Axell Corp. 43,600 832,774 Azbil Corp. 168,100 4,050,307 Bit-isle, Inc. 112,900 968,294 CAC Corp. 72,400 643,521 Canon Electronics, Inc. 127,100 2,375,634 Chino Corp. 165,000 385,117 CMK Corp. 263,200 758,472 Computer Engineering & Consulting, Ltd. 69,400 441,824 CONEXIO Corp. 99,100 852,484 Core Corp. 37,100 281,644 Cresco, Ltd. 23,200 180,178 Cybernet Systems Co., Ltd. 12,000 42,121 Cybozu, Inc. 1,157 337,901 # Dai-ichi Seiko Co., Ltd. 53,200 816,075 # Daishinku Corp. 193,000 730,359 Daito Electron Co., Ltd. 5,900 24,677 Daiwabo Holdings Co., Ltd. 1,152,000 2,207,672 Denki Kogyo Co., Ltd. 319,000 2,113,329 # DKK-Toa Corp. 38,200 201,040 DTS Corp. 114,800 1,965,546 Eizo Corp. 99,300 2,443,569 Elecom Co., Ltd. 43,500 617,537 # Elematec Corp. 39,871 580,521 # EM Systems Co., Ltd. 10,800 219,914 # Enplas Corp. 45,000 2,966,634 # ESPEC Corp. 123,100 958,592 Excel Co., Ltd. 36,400 432,735 # Faith, Inc. 27,910 293,714 # Ferrotec Corp. 179,000 880,015 # Fuji Electronics Co., Ltd. 55,100 755,003 Fuji Soft, Inc. 120,000 2,385,894 Fujitsu Frontech, Ltd. 77,500 636,081 # Furuno Electric Co., Ltd. 86,500 564,972 Furuya Metal Co., Ltd. 10,800 294,113 Future Architect, Inc. 114,800 671,456 GMO Payment Gateway, Inc. 11,700 386,832 # Gree, Inc. 70,200 603,756 # Gurunavi, Inc. 83,100 1,793,746 Hakuto Co., Ltd. 85,700 828,710 # Hioki EE Corp. 45,400 648,225 Hitachi Kokusai Electric, Inc. 189,500 2,545,850 Hochiki Corp. 97,000 489,528 Hokuriku Electric Industry Co., Ltd. 398,000 556,883 Horiba, Ltd. 218,850 7,996,873 Hosiden Corp. 351,400 1,920,699 THE JAPANESE SMALL COMPANY SERIES CONTINUED Shares Value++ ------- ---------- Information Technology -- (Continued) I-Net Corp/Kanagawa 47,800 $ 350,699 Icom, Inc. 49,700 1,147,331 #* Ikegami Tsushinki Co., Ltd. 268,000 290,364 Ines Corp. 202,300 1,339,841 # Infocom Corp. 73,800 650,670 Information Services International-Dentsu, Ltd. 76,700 865,614 Innotech Corp. 92,200 425,223 Internet Initiative Japan, Inc. 141,600 3,974,044 Iriso Electronics Co., Ltd. 45,400 1,789,287 IT Holdings Corp. 448,301 6,439,577 Itfor, Inc. 99,500 411,072 Iwatsu Electric Co., Ltd. 541,000 547,032 Japan Aviation Electronics Industry, Ltd. 349,600 3,519,621 Japan Digital Laboratory Co., Ltd. 117,300 1,400,018 #* Japan Radio Co., Ltd. 304,000 1,146,590 Jastec Co., Ltd. 61,400 538,059 # JBCC Holdings, Inc. 84,900 788,884 #* Justsystems Corp. 165,300 1,592,850 Kaga Electronics Co., Ltd. 116,400 1,171,150 Kanematsu Electronics, Ltd. 83,100 1,082,351 #* KLab, Inc. 128,600 1,034,267 Koa Corp. 189,200 1,778,807 Kyoden Co., Ltd. 1,300 1,880 # Kyoei Sangyo Co., Ltd. 97,000 190,823 Kyowa Electronics Instruments Co., Ltd. 56,000 245,084 LAC Co., Ltd. 61,400 380,127 # Lasertec Corp. 97,400 1,006,232 Macnica, Inc. 57,900 1,569,846 # Macromill, Inc. 211,600 1,331,199 Marubun Corp. 98,500 453,936 # Maruwa Co. Ltd/Aichi 53,800 1,953,019 Marvelous AQL, Inc. 163,400 1,008,989 Megachips Corp. 104,400 1,710,598 #* Meiko Electronics Co., Ltd. 70,200 533,963 # Melco Holdings, Inc. 77,000 1,054,668 Micronics Japan Co., Ltd. 28,000 187,157 Mimasu Semiconductor Industry Co., Ltd. 94,181 825,353 # Miraial Co., Ltd. 33,800 548,266 Miroku Jyoho Service Co., Ltd. 99,500 395,413 Mitsubishi Research Institute, Inc. 23,300 505,987 Mitsui High-Tec, Inc. 146,300 1,036,591 # Mitsui Knowledge Industry Co., Ltd. 364,300 571,176 * Mitsumi Electric Co., Ltd. 560,900 3,782,381 # MTI, Ltd. 36,800 462,772 # Mutoh Holdings Co., Ltd. 101,000 437,001 Nagano Keiki Co., Ltd. 5,500 38,301 Nakayo Telecommunications, Inc. 411,000 1,370,851 NEC Fielding, Ltd. 97,600 1,102,330 NEC Networks & System Integration Corp. 140,600 3,540,203 # NET One Systems Co., Ltd. 493,600 3,443,285 # Nichicon Corp. 302,300 3,165,944 Nidec Copal Electronics Corp. 87,400 540,195 THE JAPANESE SMALL COMPANY SERIES CONTINUED Shares Value++ ------- ---------- Information Technology -- (Continued) NIFTY Corp. 47,400 $ 617,911 # Nihon Dempa Kogyo Co., Ltd. 105,700 984,012 Nihon Unisys, Ltd. 272,875 2,433,453 # Nippon Ceramic Co., Ltd. 88,600 1,292,815 * Nippon Chemi-Con Corp. 781,000 3,529,511 Nippon Kodoshi Corp. 6,200 73,680 Nippon Systemware Co., Ltd. 27,900 117,412 Nohmi Bosai, Ltd. 135,000 1,363,425 # NS Solutions Corp. 97,800 2,229,935 NSD Co., Ltd. 202,500 2,476,688 Nuflare Technology, Inc. 15,200 2,034,983 OBIC Business Consultants, Ltd. 44,300 1,529,793 * Ohara, Inc. 47,600 296,113 Okaya Electric Industries Co., Ltd. 73,000 253,443 ONO Sokki Co., Ltd. 114,000 505,744 Optex Co., Ltd. 59,300 974,915 # Origin Electric Co., Ltd. 168,000 565,094 # Osaki Electric Co., Ltd. 173,000 1,140,528 Panasonic Industrial Devices SUNX Co., Ltd. 110,800 509,107 Panasonic Information Systems 15,700 415,880 PCA Corp. 2,500 30,505 Riken Keiki Co., Ltd. 82,300 630,526 Riso Kagaku Corp. 91,800 2,044,969 Ryoden Trading Co., Ltd. 173,000 1,183,125 Ryosan Co., Ltd. 189,600 3,671,085 Ryoyo Electro Corp. 113,200 1,037,181 # Sanken Electric Co., Ltd. 610,000 3,366,317 Sanshin Electronics Co., Ltd. 154,200 1,006,667 Satori Electric Co., Ltd. 79,080 477,782 Saxa Holdings, Inc. 307,000 495,513 Shibaura Electronics Co., Ltd. 15,900 201,529 #* Shibaura Mechatronics Corp. 199,000 496,322 Shindengen Electric Manufacturing Co., Ltd. 410,000 2,638,214 # Shinkawa, Ltd. 68,300 442,449 Shinko Electric Industries Co., Ltd. 403,000 3,592,677 Shinko Shoji Co., Ltd. 125,200 1,071,502 Shizuki Electric Co., Inc. 103,000 399,510 # Siix Corp. 87,200 1,064,149 # SMK Corp. 347,000 1,669,389 Softbank Technology Corp. 10,000 178,864 * Softbrain Co., Ltd. 7,700 10,678 Soshin Electric Co., Ltd. 4,600 17,284 # Square Enix Holdings Co., Ltd. 372,200 5,998,638 SRA Holdings 51,300 573,752 Star Micronics Co., Ltd. 221,600 2,384,594 Sumida Corp. 86,249 411,361 Sun-Wa Technos Corp. 16,500 153,681 Systena Corp. 117,600 858,278 #* Tabuchi Electric Co., Ltd. 21,000 111,652 Tachibana Eletech Co., Ltd. 63,300 725,279 # Taiyo Yuden Co., Ltd. 619,100 7,935,573 Tamura Corp. 422,000 1,109,917 THE JAPANESE SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ------------ Information Technology -- (Continued) Tecmo Koei Holdings Co., Ltd. 150,730 $ 1,709,750 Teikoku Tsushin Kogyo Co., Ltd. 215,000 385,604 TKC Corp. 110,100 1,828,123 # Tokyo Electron Device, Ltd. 34,200 532,649 Tokyo Seimitsu Co., Ltd. 216,900 4,141,518 Tomen Devices Corp. 2,400 41,124 Tomen Electronics Corp. 61,000 692,184 Tose Co., Ltd. 22,100 154,275 Toshiba TEC Corp. 697,000 4,292,982 Toukei Computer Co., Ltd. 26,810 394,415 Towa Corp. 112,000 644,258 Toyo Corp. 153,600 1,713,492 Transcosmos, Inc. 137,700 2,382,664 UKC Holdings Corp. 59,800 1,192,046 * Ulvac, Inc. 238,300 2,436,880 #* Uniden Corp. 377,000 937,970 # UT Holdings Co., Ltd. 144,600 593,039 # Wellnet Corp. 31,500 448,323 Y A C Co., Ltd. 37,700 239,220 * Yamaichi Electronics Co., Ltd. 75,700 188,785 Yashima Denki Co., Ltd. 7,700 33,254 Yokowo Co., Ltd. 84,300 478,373 # Zappallas, Inc. 52,200 387,935 # Zuken, Inc. 94,600 781,333 ------------ Total Information Technology 236,643,878 ------------ Materials -- (10.5%) # Achilles Corp. 874,000 1,450,374 ADEKA Corp. 494,600 5,815,821 # Agro-Kanesho Co., Ltd. 14,000 98,600 Aichi Steel Corp. 587,000 3,008,875 Alconix Corp. 25,700 529,975 Arakawa Chemical Industries, Ltd. 79,200 795,541 # Araya Industrial Co., Ltd. 276,000 501,858 Asahi Holdings, Inc. 139,150 2,294,085 Asahi Organic Chemicals Industry Co., Ltd. 391,000 877,409 Asahi Printing Co., Ltd. 800 19,900 C Uyemura & Co., Ltd. 17,800 754,527 * Carlit Holdings Co., Ltd. 67,500 339,403 Chuetsu Pulp & Paper Co., Ltd. 568,000 920,149 #* Chugai Mining Co., Ltd. 1,012,400 351,028 Chugoku Marine Paints, Ltd. 341,000 1,947,967 Chuo Denki Kogyo Co., Ltd. 100,100 338,999 #* Co-Op Chemical Co., Ltd. 159,000 227,350 Dai Nippon Toryo Co., Ltd. 683,000 1,158,791 Dai-Ichi Kogyo Seiyaku Co., Ltd. 197,000 487,265 Daiichi Kigenso Kagaku-Kogyo Co., Ltd. 8,200 249,291 Daiken Corp. 401,000 1,092,089 Daiki Aluminium Industry Co., Ltd. 142,000 399,763 Dainichiseika Color & Chemicals Manufacturing Co., Ltd. 376,000 1,564,016 # Daio Paper Corp. 526,500 3,898,060 Daiso Co., Ltd. 411,000 1,247,391 THE JAPANESE SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ---------- Materials -- (Continued) # DC Co., Ltd. 113,900 $ 834,085 Denki Kagaku Kogyo KK 387,000 1,622,976 Dynapac Co., Ltd. 25,000 61,573 # Earth Chemical Co., Ltd. 42,600 1,582,413 # FP Corp. 68,000 5,254,380 Fuji Seal International, Inc. 121,900 3,678,392 Fujikura Kasei Co., Ltd. 138,000 752,562 Fujimi, Inc. 108,700 1,460,435 Fujimori Kogyo Co., Ltd. 69,200 2,059,778 # Fumakilla, Ltd. 45,000 131,543 Fuso Chemical Co., Ltd. 2,900 72,447 Godo Steel, Ltd. 899,000 1,652,726 # Gun-Ei Chemical Industry Co., Ltd. 276,000 1,366,043 Harima Chemicals Group, Inc. 73,300 363,297 # Hodogaya Chemical Co., Ltd. 289,000 595,809 Hokkan Holdings, Ltd. 283,000 894,425 Hokko Chemical Industry Co., Ltd. 90,000 272,408 # Hokuetsu Kishu Paper Co., Ltd. 862,199 4,017,271 Honshu Chemical Industry Co., Ltd. 14,000 86,422 # Ihara Chemical Industry Co., Ltd. 211,000 1,586,251 Ise Chemical Corp. 83,000 717,374 * Ishihara Sangyo Kaisha, Ltd. 1,854,500 1,720,060 # Ishizuka Glass Co., Ltd. 119,000 451,824 JCU Corp. 11,900 487,930 JSP Corp. 103,900 1,652,727 #* Kanto Denka Kogyo Co., Ltd. 91,000 194,449 Katakura Chikkarin Co., Ltd. 43,000 119,790 Kawakin Holdings Co., Ltd. 11,000 31,350 Kawasaki Kasei Chemicals, Ltd. 84,000 110,358 Koatsu Gas Kogyo Co., Ltd. 163,493 908,961 Kogi Corp. 30,000 60,837 Kohsoku Corp. 61,900 591,411 Konishi Co., Ltd. 87,400 1,761,489 Krosaki Harima Corp. 260,000 644,366 # Kumiai Chemical Industry Co., Ltd. 271,000 2,011,654 Kureha Corp. 736,500 2,840,306 Kurimoto, Ltd. 702,000 2,000,727 # Kyoei Steel, Ltd. 95,200 1,970,069 Kyowa Leather Cloth Co., Ltd. 71,700 327,156 Lintec Corp. 264,300 5,481,745 MEC Co., Ltd. 76,500 324,894 Mitani Sekisan Co., Ltd. 17,000 269,016 #* Mitsubishi Paper Mills, Ltd. 1,542,000 1,398,277 Mitsubishi Steel Manufacturing Co., Ltd. 743,000 2,108,950 Mitsui Mining & Smelting Co., Ltd. 3,353,000 8,547,456 # MORESCO Corp. 12,300 198,016 Mory Industries, Inc. 156,000 656,922 * Nakayama Steel Works, Ltd. 422,000 483,672 Neturen Co., Ltd. 154,500 1,362,729 #* New Japan Chemical Co., Ltd. 182,300 564,255 Nichia Steel Works, Ltd. 175,900 643,390 Nihon Kagaku Sangyo Co., Ltd. 78,000 551,013 THE JAPANESE SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ---------- Materials -- (Continued) Nihon Nohyaku Co., Ltd. 252,000 $3,020,517 Nihon Parkerizing Co., Ltd. 271,000 5,294,000 Nihon Yamamura Glass Co., Ltd. 491,000 904,653 # Nippon Carbide Industries Co., Inc. 369,000 1,206,166 #* Nippon Chemical Industrial Co., Ltd. 491,000 826,784 Nippon Chutetsukan KK 113,000 282,531 Nippon Coke & Engineering Co., Ltd. 1,410,500 1,787,337 # Nippon Concrete Industries Co., Ltd. 180,000 1,008,361 # Nippon Denko Co., Ltd. 514,000 1,496,914 Nippon Fine Chemical Co., Ltd. 85,600 560,211 # Nippon Kasei Chemical Co., Ltd. 183,000 266,769 #* Nippon Kinzoku Co., Ltd. 264,000 366,298 #* Nippon Koshuha Steel Co., Ltd. 458,000 503,797 Nippon Light Metal Holdings Co., Ltd. 3,010,700 4,310,639 # Nippon Paper Industries Co., Ltd. 174,000 2,772,513 Nippon Pillar Packing Co., Ltd. 113,000 775,201 Nippon Soda Co., Ltd. 785,000 4,809,234 Nippon Synthetic Chemical Industry Co., Ltd. (The) 289,000 2,786,331 # Nippon Valqua Industries, Ltd. 465,000 1,302,813 #* Nippon Yakin Kogyo Co., Ltd. 2,000 6,627 Nisshin Steel Holdings Co., Ltd. 453,992 6,053,499 Nittetsu Mining Co., Ltd. 375,000 2,151,813 # Nitto FC Co., Ltd. 72,000 436,418 NOF Corp. 833,000 5,792,184 Okamoto Industries, Inc. 414,000 1,320,144 Okura Industrial Co., Ltd. 305,000 1,080,539 Osaka Organic Chemical Industry, Ltd. 66,000 302,151 Osaka Steel Co., Ltd. 77,700 1,486,869 # OSAKA Titanium Technologies Co. 91,200 1,990,363 # Pacific Metals Co., Ltd. 823,000 3,015,879 Pack Corp. (The) 75,200 1,441,692 #* Rasa Industries, Ltd. 430,000 945,568 Rengo Co., Ltd. 1,219,000 6,519,768 Riken Technos Corp. 203,000 910,234 Sakai Chemical Industry Co., Ltd. 535,000 1,772,130 Sakata INX Corp. 242,000 2,296,865 Sanyo Chemical Industries, Ltd. 347,000 2,388,109 Sanyo Special Steel Co., Ltd. 592,300 3,194,041 Seiko PMC Corp. 13,500 66,179 Sekisui Plastics Co., Ltd. 235,000 664,450 Shikoku Chemicals Corp. 239,000 1,739,994 Shin-Etsu Polymer Co., Ltd. 249,100 876,193 Shinagawa Refractories Co., Ltd. 246,000 536,887 Shinko Wire Co., Ltd. 184,000 369,004 # Stella Chemifa Corp. 53,600 990,544 Sumitomo Bakelite Co., Ltd. 1,106,000 3,988,076 Sumitomo Osaka Cement Co., Ltd. 2,274,000 9,175,091 # Sumitomo Seika Chemicals Co., Ltd. 259,000 1,657,281 T Hasegawa Co., Ltd. 122,900 1,739,634 T&K Toka Co., Ltd. 34,100 725,457 Taisei Lamick Co., Ltd. 27,600 701,590 Taiyo Holdings Co., Ltd. 86,400 2,609,415 THE JAPANESE SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ------------ Materials -- (Continued) Takasago International Corp. 433,000 $ 2,407,307 Takiron Co., Ltd. 304,000 1,293,605 * Tanaka Chemical Corp. 1,100 5,305 # Tayca Corp. 159,000 482,737 Tenma Corp. 87,000 1,126,997 Toagosei Co., Ltd. 1,252,000 5,677,446 # Toda Kogyo Corp. 220,000 670,820 # Toho Titanium Co., Ltd. 132,500 1,053,032 Toho Zinc Co., Ltd. 741,000 2,233,215 # Tokai Carbon Co., Ltd. 1,202,000 4,132,463 Tokushu Tokai Paper Co., Ltd. 551,580 1,134,427 Tokuyama Corp. 1,979,000 7,654,790 Tokyo Ohka Kogyo Co., Ltd. 180,800 3,994,015 #* Tokyo Rope Manufacturing Co., Ltd. 146,000 254,846 #* Tokyo Steel Manufacturing Co., Ltd. 654,900 3,519,067 Tokyo Tekko Co., Ltd. 232,000 997,253 Tomoegawa Co., Ltd. 125,000 225,613 Tomoku Co., Ltd. 320,000 1,021,497 Topy Industries, Ltd. 1,102,000 2,415,474 # Tosoh Corp. 27,000 103,320 Toyo Ink SC Holdings Co., Ltd. 1,076,000 5,485,367 Toyo Kohan Co., Ltd. 286,000 1,301,030 Toyobo Co., Ltd. 4,867,000 9,352,621 TYK Corp. 138,000 346,126 UACJ Corp. 1,263,415 4,155,278 Ube Industries, Ltd. 316,400 654,914 Wood One Co., Ltd. 169,000 478,378 Yodogawa Steel Works, Ltd. 786,500 3,557,870 Yuki Gosei Kogyo Co., Ltd. 64,000 192,263 Yushiro Chemical Industry Co., Ltd. 60,000 545,812 ------------ Total Materials 269,605,581 ------------ Telecommunication Services -- (0.0%) * Japan Communications, Inc. 244 14,533 Okinawa Cellular Telephone Co. 35,800 880,691 ------------ Total Telecommunication Services 895,224 ------------ Utilities -- (0.4%) # Hokkaido Gas Co., Ltd. 265,000 716,649 Hokuriku Gas Co., Ltd. 99,000 254,736 Okinawa Electric Power Co., Inc. (The) 93,671 3,254,946 Saibu Gas Co., Ltd. 1,628,000 4,047,541 THE JAPANESE SMALL COMPANY SERIES CONTINUED Shares Value++ ----------- -------------- Utilities -- (Continued) Shizuoka Gas Co., Ltd. 307,000 $ 2,033,101 -------------- Total Utilities 10,306,973 -------------- TOTAL COMMON STOCKS 2,265,423,225 -------------- Shares/ Face Amount (000) Value+ ----------- -------------- SECURITIES LENDING COLLATERAL -- (11.7%) (S)@ DFA Short Term Investment Fund 25,929,127 300,000,000 @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $474,360 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $428,972) to be repurchased at $420,562 $ 421 420,561 -------------- TOTAL SECURITIES LENDING COLLATERAL 300,420,561 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $2,358,439,958) $2,565,843,786 ============== THE ASIA PACIFIC SMALL COMPANY SERIES SCHEDULE OF INVESTMENTS October 31, 2013 Shares Value++ --------- ----------- COMMON STOCKS -- (81.3%) AUSTRALIA -- (40.8%) * AAT Corp., Ltd. 9,992 $ -- * ABM Resources NL 4,344,904 106,126 Adelaide Brighton, Ltd. 1,822,054 6,631,679 #* Aditya Birla Minerals, Ltd. 884,599 284,435 * AED Oil, Ltd. 363,401 -- Ainsworth Game Technology, Ltd. 381,562 1,571,677 #* AJ Lucas Group, Ltd. 317,969 359,709 * Alchemia, Ltd. 459,735 228,263 * Alcyone Resources, Ltd. 4,280,423 12,109 #* Alkane Resources, Ltd. 1,255,636 460,770 * Alliance Resources, Ltd. 399,488 50,859 # Altium, Ltd. 15,392 36,762 * Altona Mining, Ltd. 1,108,169 166,830 AMA Group, Ltd. 15,236 5,462 Amalgamated Holdings, Ltd. 462,896 3,549,147 Amcom Telecommunications, Ltd. 1,124,392 2,201,247 # Ansell, Ltd. 414,608 7,641,753 #* Antares Energy, Ltd. 1,044,143 477,474 AP Eagers, Ltd. 235,789 1,048,710 #* APN News & Media, Ltd. 2,462,431 1,081,250 #* Aquarius Platinum, Ltd. 1,647,462 1,078,215 #* Aquila Resources, Ltd. 401,161 855,771 * Arafura Resources, Ltd. 1,004,551 89,829 # ARB Corp., Ltd. 351,804 3,873,206 Aristocrat Leisure, Ltd. 2,580,305 12,320,792 Arrium, Ltd. 7,583,001 9,907,713 #* ASG Group, Ltd. 642,515 246,405 * Atlantic, Ltd. 96,276 17,183 # Atlas Iron, Ltd. 4,589,842 4,472,996 #* Aurora Oil & Gas, Ltd. 2,256,634 6,929,410 # Ausdrill, Ltd. 1,626,896 2,350,713 # Ausenco, Ltd. 520,273 809,050 #* Austal, Ltd. 1,105,762 788,497 # Austbrokers Holdings, Ltd. 186,297 2,166,266 # Austin Engineering, Ltd. 243,521 909,682 * Austpac Resources NL 1,539,067 46,368 #* Australian Agricultural Co., Ltd. 2,023,357 2,152,094 # Australian Infrastructure Fund 3,606,473 23,806 Australian Pharmaceutical Industries, Ltd. 2,452,401 1,495,719 Australian Vintage, Ltd. 4,096,187 1,723,477 # Automotive Holdings Group, Ltd. 871,968 2,993,303 * Avanco Resources, Ltd. 2,444,368 149,977 #* AVJennings, Ltd. 7,259,050 4,186,050 * AWE, Ltd. 2,810,321 3,315,709 #* Bandanna Energy, Ltd. 452,591 89,379 BC Iron, Ltd. 480,178 2,234,443 Beach Energy, Ltd. 7,442,568 10,052,661 Bega Cheese, Ltd. 18,783 78,302 * Berkeley Resources, Ltd. 434,006 107,080 Beyond International, Ltd. 61,256 114,453 #* Billabong International, Ltd. 2,120,641 789,142 THE ASIA PACIFIC SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ----------- AUSTRALIA -- (Continued) #* Bionomics, Ltd. 307,673 $ 204,142 Bisalloy Steel Group, Ltd. 53,237 46,376 # Blackmores, Ltd. 78,760 1,687,481 #* Blackthorn Resources, Ltd. 224,195 52,705 * BlueScope Steel, Ltd. 2,365,706 11,158,750 # Boart Longyear, Ltd. 2,638,658 1,069,456 * Boom Logistics, Ltd. 812,985 142,326 * Boulder Steel, Ltd. 165,585 2,504 # Bradken, Ltd. 1,201,799 7,089,963 Breville Group, Ltd. 609,977 4,639,332 Brickworks, Ltd. 141,459 1,910,301 BSA, Ltd. 375,573 46,395 BT Investment Management, Ltd. 265,218 1,252,733 * Buccaneer Energy, Ltd. 4,354,425 185,724 #* Buru Energy, Ltd. 466,308 733,465 # Cabcharge Australia, Ltd. 624,501 2,381,921 Calliden Group, Ltd. 389,687 134,959 * Cape Lambert Resources, Ltd. 373,413 45,724 * Capral, Ltd. 58,499 11,051 # Cardno, Ltd. 618,834 4,141,819 #* Carnarvon Petroleum, Ltd. 4,944,854 345,559 * Carnegie Wave Energy, Ltd. 263,165 13,454 # carsales.com, Ltd. 1,220,399 12,118,987 # Cash Converters International, Ltd. 1,725,031 1,550,461 * CDS Technologies, Ltd. 13,276 -- # Cedar Woods Properties, Ltd. 237,702 1,556,405 * Centaurus Metals, Ltd. 62,645 13,008 #* Central Petroleum, Ltd. 236,410 87,388 * Centrebet International, Ltd. Claim Units 81,336 -- * Ceramic Fuel Cells, Ltd. 3,660,727 124,748 # Chalice Gold Mines, Ltd. 320,684 48,464 Challenger, Ltd. 198,545 1,126,357 # Chandler Macleod Group, Ltd. 401,892 180,450 * ChemGenex Pharmaceuticals, Ltd. 115,291 -- #* Citigold Corp., Ltd. 3,765,806 173,026 * Clinuvel Pharmaceuticals, Ltd. 106,846 156,540 # Clough, Ltd. 1,569,739 2,154,631 Clover Corp., Ltd. 434,207 196,800 #* Coal of Africa, Ltd. 668,800 86,618 #* Coalspur Mines, Ltd. 1,239,823 223,072 Cockatoo Coal, Ltd.() 4,039,857 217,641 #* Cockatoo Coal, Ltd.(B0PB4N8) 2,891,788 156,767 # Codan, Ltd. 389,586 645,155 * Coffey International, Ltd. 1,048,636 242,481 # Collection House, Ltd. 1,912,452 3,109,732 # Collins Foods, Ltd. 220,087 348,607 * Comet Ridge, Ltd. 15,204 2,724 * Cooper Energy, Ltd. 336,842 136,810 Coventry Group, Ltd. 144,778 392,894 Credit Corp. Group, Ltd. 110,382 1,032,484 Crowe Horwath Australasia, Ltd. 1,245,672 737,285 # CSG, Ltd. 740,785 683,865 THE ASIA PACIFIC SMALL COMPANY SERIES CONTINUED Shares Value++ ---------- ----------- AUSTRALIA -- (Continued) CSR, Ltd. 2,829,296 $ 6,679,778 CTI Logistics, Ltd. 7,200 13,570 #* Cudeco, Ltd. 399,317 755,526 #* Cue Energy Resources, Ltd. 1,378,665 169,458 # Data#3, Ltd. 378,295 414,836 # David Jones, Ltd. 3,241,419 8,330,548 # Decmil Group, Ltd. 728,820 1,742,160 #* Deep Yellow, Ltd. 1,039,981 19,535 #* Devine, Ltd. 497,498 471,285 #* Discovery Metals, Ltd. 1,368,337 86,650 # Domino's Pizza Enterprises, Ltd. 19,032 280,733 Downer EDI, Ltd. 2,414,160 11,216,171 * Dragon Mining, Ltd. 121,430 22,975 #* Drillsearch Energy, Ltd. 1,996,042 2,444,441 DUET Group 574,404 1,165,984 DuluxGroup, Ltd. 2,317,895 11,287,494 # DWS, Ltd. 382,927 535,160 # Echo Entertainment Group, Ltd. 1,349,940 3,388,112 * EHG Corp., Ltd. 482 -- #* Elders, Ltd. 1,419,921 153,984 * Elemental Minerals, Ltd. 388,188 175,709 Emeco Holdings, Ltd. 3,418,670 1,112,329 * Empire Oil & Gas NL 922,161 13,016 * Energy Resources of Australia, Ltd. 819,847 992,250 #* Energy World Corp., Ltd. 4,181,155 1,718,595 Envestra, Ltd. 6,189,006 6,576,924 #* Equatorial Resources, Ltd. 176,571 115,425 ERM Power, Ltd. 27,109 72,976 Ethane Pipeline Income Fund 166,602 280,142 Euroz, Ltd. 90,019 99,761 # Evolution Mining, Ltd. 1,832,000 1,447,725 # Fairfax Media, Ltd. 11,005,131 6,283,630 # Fantastic Holdings, Ltd. 335,900 709,988 #* FAR, Ltd. 8,567,778 315,556 # Finbar Group, Ltd. 111,165 165,039 * Finders Resources, Ltd. 7,442 1,406 FKP Property Group(6349699) 479,575 841,775 FKP Property Group(BG49KV5) 311,066 549,788 # Fleetwood Corp., Ltd. 369,568 1,178,200 FlexiGroup, Ltd. 620,491 2,761,329 * Flinders Mines, Ltd. 6,909,293 260,586 #* Focus Minerals, Ltd. 19,167,915 234,754 Forge Group, Ltd. 411,374 1,711,386 Funtastic, Ltd. 14,936 2,332 G8 Education, Ltd. 469,718 1,375,258 #* Galaxy Resources, Ltd. 760,450 42,591 Gazal Corp., Ltd. 75,960 209,660 * Geodynamics, Ltd. 1,015,653 86,662 #* Gindalbie Metals, Ltd. 2,927,610 359,584 Global Construction Services, Ltd. 4,832 2,669 Goodman Fielder, Ltd. 9,960,250 7,158,645 GrainCorp, Ltd. Class A 828,668 9,661,614 THE ASIA PACIFIC SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ----------- AUSTRALIA -- (Continued) # Grange Resources, Ltd. 1,397,864 $ 283,997 Greencross, Ltd. 7,711 47,766 #* Greenland Minerals & Energy, Ltd. 796,390 226,622 #* Gryphon Minerals, Ltd. 1,931,531 279,116 # GUD Holdings, Ltd. 521,492 2,922,178 * Gujarat NRE Coking Coal, Ltd. 119,865 7,862 #* Gunns, Ltd. 2,872,620 -- # GWA Group, Ltd. 1,383,060 4,051,957 Hansen Technologies, Ltd. 5,702 5,930 * Havilah Resources NL 132,053 34,950 # HFA Holdings, Ltd. 235,865 165,893 HGL, Ltd. 42,287 22,282 #* Highlands Pacific, Ltd. 2,651,500 152,579 * Hillgrove Resources, Ltd. 1,477,188 125,350 Hills Holdings, Ltd. 1,160,294 2,004,717 #* Horizon Oil, Ltd. 6,144,549 1,913,822 * Icon Energy, Ltd. 1,135,301 160,871 * IDM International, Ltd. 23,969 884 iiNET, Ltd. 756,542 4,653,983 # Imdex, Ltd. 1,175,904 799,848 IMF Australia, Ltd. 350,860 609,480 Independence Group NL 1,183,046 4,409,083 * Indophil Resources NL 3,118,946 455,983 #* Infigen Energy 2,081,316 511,854 # Infomedia, Ltd. 1,458,074 827,631 Integrated Research, Ltd. 336,657 291,284 #* Intrepid Mines, Ltd. 1,794,707 481,979 # Invocare, Ltd. 638,866 6,616,861 IOOF Holdings, Ltd. 1,239,793 10,543,213 # Iress, Ltd. 767,110 7,158,910 #* Iron Ore Holdings, Ltd. 336,216 292,878 #* Ivanhoe Australia, Ltd. 516,032 107,062 # JB Hi-Fi, Ltd. 639,044 13,169,341 Jumbo Interactive, Ltd. 79,818 182,289 #* Jupiter Mines, Ltd. 405,443 21,413 # K&S Corp., Ltd. 241,533 394,354 #* Kagara, Ltd. 1,945,393 220,643 * Kangaroo Resources, Ltd. 1,767,709 26,567 * Karoon Gas Australia, Ltd. 759,802 3,183,316 * Kasbah Resources, Ltd. 272,396 38,745 # Kingsgate Consolidated, Ltd. 796,949 1,071,101 #* Kingsrose Mining, Ltd. 760,046 275,162 * Lednium, Ltd. 195,019 -- #* Linc Energy, Ltd. 1,982,517 2,687,179 * Liquefied Natural Gas, Ltd. 366,175 115,654 LogiCamms, Ltd. 32,268 56,733 Lonestar Resources, Ltd. 819,137 213,013 # Lycopodium, Ltd. 80,228 372,095 # M2 Telecommunications Group, Ltd. 734,710 4,401,880 MACA, Ltd. 422,969 1,004,300 * Macmahon Holdings, Ltd. 6,319,933 896,769 Macquarie Atlas Roads Group 398,554 997,800 THE ASIA PACIFIC SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ---------- AUSTRALIA -- (Continued) # Macquarie Telecom Group, Ltd. 35,019 $ 279,612 Mastermyne Group, Ltd. 8,431 7,924 #* Matrix Composites & Engineering, Ltd. 167,126 107,253 #* Maverick Drilling & Exploration, Ltd. 518,714 250,443 # MaxiTRANS Industries, Ltd. 942,578 979,718 * Mayne Pharma Group, Ltd. 1,659,994 1,114,998 # McMillan Shakespeare, Ltd. 84,672 1,033,930 McPherson's, Ltd. 399,740 509,481 #* Medusa Mining, Ltd. 989,037 1,752,332 Melbourne IT, Ltd. 442,110 673,770 * MEO Australia, Ltd. 681,039 43,794 Mermaid Marine Australia, Ltd. 1,249,422 4,426,314 #* Mesoblast, Ltd. 99,585 620,319 * Metals X, Ltd. 513,853 77,457 * Metgasco, Ltd. 641,952 79,160 * Metminco, Ltd. 803,323 31,188 * MHM Metals, Ltd. 117,605 10,103 # Miclyn Express Offshore, Ltd. 669,144 1,326,873 # Mincor Resources NL 1,004,969 535,856 #* Mineral Deposits, Ltd. 375,518 1,109,002 # Mineral Resources, Ltd. 756,386 8,087,153 #* Mirabela Nickel, Ltd. 2,820,238 42,649 #* Molopo Energy, Ltd. 1,186,993 235,432 # Monadelphous Group, Ltd. 491,743 8,437,605 * Morning Star Gold NL 332,749 34,595 # Mortgage Choice, Ltd. 661,501 1,864,568 Mount Gibson Iron, Ltd. 3,718,184 3,118,707 # Myer Holdings, Ltd. 3,564,925 8,425,293 # MyState, Ltd. 153,682 719,217 #* Nanosonics, Ltd. 152,184 125,013 * National Energy Holdings, Ltd. 1,996 -- Navitas, Ltd. 1,192,373 6,531,773 #* Neon Energy, Ltd. 2,710,006 742,137 #* Newsat, Ltd. 664,971 301,847 #* Nexus Energy, Ltd. 6,106,883 449,950 # NIB Holdings, Ltd. 1,999,582 4,538,018 * Nido Petroleum, Ltd. 6,093,154 247,151 #* Noble Mineral Resources, Ltd. 405,717 3,451 #* Northern Iron, Ltd. 692,729 185,659 # Northern Star Resources, Ltd. 2,288,350 1,899,416 # NRW Holdings, Ltd. 1,589,102 2,098,258 * NuCoal Resources, Ltd. 429,538 32,239 # Nufarm, Ltd. 981,136 4,524,568 # Oakton, Ltd. 394,790 658,625 * OM Holdings, Ltd. 29,193 8,834 * OPUS Group, Ltd. 36,822 1,913 #* Orocobre, Ltd. 257,530 581,143 # OrotonGroup, Ltd. 119,625 607,208 #* Otto Energy, Ltd. 1,936,175 200,908 # OZ Minerals, Ltd. 1,655,291 5,642,126 # Pacific Brands, Ltd. 5,010,190 3,337,057 #* Paladin Energy, Ltd. 4,560,023 1,801,390 THE ASIA PACIFIC SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ----------- AUSTRALIA -- (Continued) * Pan Pacific Petroleum NL 1,094,343 $ 119,098 PanAust, Ltd. 2,083,184 3,953,382 * Pancontinental Oil & Gas NL 1,006,891 59,861 # Panoramic Resources, Ltd. 1,014,830 312,180 #* PaperlinX, Ltd. 2,814,406 140,926 Patties Foods, Ltd. 42,099 55,276 * Peak Resources, Ltd. 177,789 16,352 #* Peet, Ltd. 1,471,836 1,947,550 * Peninsula Energy, Ltd. 5,178,834 112,438 * Perilya, Ltd. 1,482,070 476,483 # Perpetual, Ltd. 234,074 10,190,785 #* Perseus Mining, Ltd. 1,772,366 723,287 #* Pharmaxis, Ltd. 825,833 97,601 * Phosphagenics, Ltd. 1,842,963 235,112 #* Platinum Australia, Ltd. 1,442,661 39,733 * Pluton Resources, Ltd. 385,090 25,584 * PMP, Ltd. 2,395,607 913,608 * Poseidon Nickel, Ltd. 436,181 40,695 Premier Investments, Ltd. 488,664 3,682,647 #* Prima Biomed, Ltd. 2,194,242 78,582 Primary Health Care, Ltd. 1,709,571 7,975,871 # Prime Media Group, Ltd. 1,777,139 1,695,007 PrimeAg Australia, Ltd. 271,248 113,367 Programmed Maintenance Services, Ltd. 626,706 1,633,237 #* QRxPharma, Ltd. 167,593 109,546 #* Quickstep Holdings, Ltd. 462,355 106,750 #* Ramelius Resources, Ltd. 1,512,836 191,229 #* Range Resources, Ltd. 1,456,711 42,782 RCG Corp., Ltd. 60,936 42,614 # RCR Tomlinson, Ltd. 1,056,974 3,542,535 # REA Group, Ltd. 133,312 5,232,204 # Reckon, Ltd. 288,752 626,260 * Red 5, Ltd. 9,022 4,136 #* Red Fork Energy, Ltd. 2,401,965 1,086,469 Redflex Holdings, Ltd. 377,855 434,788 # Reece Australia, Ltd. 238,257 6,301,473 * Reed Resources, Ltd. 432,070 8,974 # Regis Resources, Ltd. 1,462,905 4,766,643 # Reject Shop, Ltd. (The) 174,449 2,943,487 Resolute Mining, Ltd. 3,180,514 1,925,362 * Resource Equipment, Ltd. 118,411 19,607 #* Resource Generation, Ltd. 338,381 73,736 Retail Food Group, Ltd.() 32,571 134,220 # Retail Food Group, Ltd.(B15SCH6) 330,456 1,362,242 #* Rex Minerals, Ltd. 469,315 219,975 # Ridley Corp., Ltd. 1,296,000 1,045,952 * RiverCity Motorway Group 1,563,354 -- * Robust Resources, Ltd. 50,108 16,152 * Roc Oil Co., Ltd. 6,490,268 2,968,868 RungePincockMinarco, Ltd. 30,702 18,132 # Ruralco Holdings, Ltd. 96,796 293,283 # SAI Global, Ltd. 1,312,124 5,099,117 THE ASIA PACIFIC SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ----------- AUSTRALIA -- (Continued) Salmat, Ltd. 664,807 $ 1,338,901 #* Samson Oil & Gas, Ltd. 7,175,499 171,800 * Sandfire Resources NL 61,042 375,047 #* Santana Minerals, Ltd. 196,104 21,243 * Saracen Mineral Holdings, Ltd. 2,686,129 592,565 Schaffer Corp., Ltd. 33,766 172,821 # Sedgman, Ltd. 452,719 368,326 # Select Harvests, Ltd. 325,063 1,292,363 * Senex Energy, Ltd. 4,952,945 3,882,173 # Servcorp, Ltd. 301,327 1,143,206 # Service Stream, Ltd. 1,432,710 310,558 # Seven Group Holdings, Ltd. 57,659 454,163 # Seven West Media, Ltd. 2,360,983 5,625,293 Sigma Pharmaceuticals, Ltd. 6,163,437 3,322,338 * Sihayo Gold, Ltd. 574,042 18,248 #* Silex Systems, Ltd. 511,695 1,160,055 Silver Chef, Ltd. 50,018 387,373 #* Silver Lake Resources, Ltd. 1,794,629 1,293,382 #* Sims Metal Management, Ltd. 863,295 8,177,344 # Sirtex Medical, Ltd. 221,537 2,599,494 # Skilled Group, Ltd. 1,014,268 3,389,455 Slater & Gordon, Ltd. 193,115 706,666 # SMS Management & Technology, Ltd. 517,037 2,250,370 Southern Cross Electrical Engineering, Ltd. 21,171 21,034 Southern Cross Media Group, Ltd. 2,968,375 5,297,105 Spark Infrastructure Group 4,143,888 6,637,154 # Specialty Fashion Group, Ltd. 809,557 680,676 #* St Barbara, Ltd. 2,014,732 904,931 #* Starpharma Holdings, Ltd. 384,306 322,719 #* Straits Resources, Ltd. 917,602 7,751 * Strike Energy, Ltd. 1,315,724 118,093 Structural Systems, Ltd. 29,934 14,245 STW Communications Group, Ltd. 1,672,545 2,515,899 #* Sundance Energy Australia, Ltd. 1,575,618 1,685,425 #* Sundance Resources, Ltd. 8,756,539 867,640 Sunland Group, Ltd. 741,191 1,121,562 # Super Retail Group, Ltd. 1,291,875 16,364,147 Swick Mining Services, Ltd. 106,166 33,658 Tabcorp Holdings, Ltd. 609,316 2,072,451 * Talon Petroleum, Ltd. 12,647 504 #* Tanami Gold NL 987,316 47,673 * Tap Oil, Ltd. 1,450,696 746,535 Tassal Group, Ltd. 652,338 1,917,512 Technology One, Ltd. 1,322,653 2,535,605 #* Ten Network Holdings, Ltd. 9,497,468 2,517,370 # TFS Corp., Ltd. 1,393,854 989,451 # Thorn Group, Ltd. 390,102 944,593 #* Tiger Resources, Ltd. 3,098,111 1,156,631 * Toro Energy, Ltd. 70,156 5,498 Tox Free Solutions, Ltd. 677,565 2,112,823 # TPG Telecom, Ltd. 1,484,123 6,542,913 # Transfield Services, Ltd. 2,545,661 3,210,746 THE ASIA PACIFIC SMALL COMPANY SERIES CONTINUED Shares Value++ ---------- ------------ AUSTRALIA -- (Continued) * Transpacific Industries Group, Ltd. 5,521,841 $ 5,976,366 # Treasury Group, Ltd. 21,218 184,432 #* Troy Resources, Ltd. 599,011 754,991 Trust Co., Ltd. (The) 89,605 706,764 # UGL, Ltd. 995,514 6,923,273 * Unity Mining, Ltd. 2,433,889 139,990 UXC, Ltd. 1,414,789 1,275,643 * Venture Minerals, Ltd. 412,390 70,272 * Villa World, Ltd. 79,120 132,643 Village Roadshow, Ltd. 855,994 5,686,302 #* Virgin Australia Holdings, Ltd. 7,648,897 3,003,038 * Virgin Australia Holdings, Ltd. (B7L5734) 7,648,897 7 * Vision Eye Institute, Ltd. 362,756 248,628 # Vocus Communications, Ltd. 122,731 301,746 Warrnambool Cheese & Butter Factory Co. Holding, Ltd. 3,311 25,952 * Watpac, Ltd. 718,644 670,081 WDS, Ltd. 375,342 298,085 # Webjet, Ltd. 390,881 1,163,508 Webster, Ltd. 180,921 162,685 # Western Areas, Ltd. 877,540 2,315,597 #* Western Desert Resources, Ltd. 241,493 165,384 #* White Energy Co., Ltd. 643,913 127,841 #* Whitehaven Coal, Ltd. 1,405,909 2,153,556 # Wide Bay Australia, Ltd. 84,697 469,217 #* Windimurra Vanadium, Ltd. 67,179 -- # Wotif.com Holdings, Ltd. 694,411 2,913,417 #* YTC Resources, Ltd. 104,200 25,077 ------------ TOTAL AUSTRALIA 632,321,027 ------------ BERMUDA -- (0.0%) * Playmates Toys, Ltd. 12,000 4,364 ------------ CAYMAN ISLANDS -- (0.0%) * Cw Group Holdings, Ltd. 46,000 11,453 Ka Shui International Holdings, Ltd. 34,000 11,100 ------------ TOTAL CAYMAN ISLANDS 22,553 ------------ CHINA -- (0.1%) Active Group Holdings, Ltd. 184,000 19,710 Century Sunshine Group Holdings, Ltd. 390,916 38,885 * China Resources and Transportation Group, Ltd. 500,000 28,970 * China WindPower Group, Ltd. 2,307,368 93,721 * Skyfame Realty Holdings, Ltd. 2,501,625 174,506 #* Sound Global, Ltd. 1,432,000 804,350 * Superb Summit International Group, Ltd. 21,451,600 940,666 ------------ TOTAL CHINA 2,100,808 ------------ HONG KONG -- (22.5%) Aeon Credit Service Asia Co., Ltd. 580,000 516,062 # Aeon Stores Hong Kong Co., Ltd. 248,000 374,382 Alco Holdings, Ltd. 1,426,000 303,590 Allan International Holdings 720,000 229,081 THE ASIA PACIFIC SMALL COMPANY SERIES CONTINUED Shares Value++ ---------- ---------- HONG KONG -- (Continued) Allied Group, Ltd. 683,200 $2,555,501 Allied Overseas, Ltd. 50,000 54,688 Allied Properties HK, Ltd. 12,297,857 2,030,344 * Anxian Yuan China Holdings, Ltd. 1,960,000 49,267 * Apac Resources, Ltd. 12,780,000 248,977 APT Satellite Holdings, Ltd. 1,784,000 1,937,904 Arts Optical International Hldgs 730,000 181,106 Asia Financial Holdings, Ltd. 2,474,908 1,040,197 Asia Satellite Telecommunications Holdings, Ltd. 962,000 3,733,770 Asia Standard Hotel 11,777,218 1,200,544 Asia Standard International Group 13,425,937 3,045,142 # Associated International Hotels, Ltd. 980,000 2,883,926 Aupu Group Holding Co., Ltd. 2,504,000 277,713 * Bel Global Resources Holdings, Ltd. 2,576,000 -- * Birmingham International Holdings, Ltd. 6,502,000 -- Bonjour Holdings, Ltd. 10,366,000 2,243,226 Bossini International Hldg 3,807,500 228,298 #* Brightoil Petroleum Holdings, Ltd. 8,759,000 1,502,327 #* Brockman Mining, Ltd. 23,482,814 1,243,123 * Burwill Holdings, Ltd. 8,888,960 389,548 Cafe de Coral Holdings, Ltd. 1,352,000 4,648,777 Century City International Holdings, Ltd. 6,419,460 488,518 Champion Technology Holdings, Ltd. 14,881,730 309,426 * Chaoyue Group, Ltd. 1,095,000 53,644 Chen Hsong Holdings 1,212,000 382,789 Cheuk Nang Holdings, Ltd. 589,036 530,709 * Cheung Wo International Holdings, Ltd. 690,000 73,764 Chevalier International Holdings, Ltd. 751,318 1,321,336 * China Billion Resources, Ltd. 4,876,000 -- * China Daye Non-Ferrous Metals Mining, Ltd. 9,145,837 239,506 * China Digicontent Co., Ltd. 2,710,000 -- China Electronics Corp. Holdings Co., Ltd. 3,608,250 703,145 * China Energy Development Holdings, Ltd. 24,320,000 282,762 * China Environmental Investment Holdings, Ltd. 7,470,000 232,098 China Financial Services Holdings, Ltd. 954,000 79,992 * China Flavors & Fragrances Co., Ltd. 156,137 23,888 * China Gamma Group, Ltd. 3,975,000 70,934 * China Infrastructure Investment, Ltd. 7,776,000 153,116 China Metal International Holdings, Inc. 2,710,000 761,328 # China Motor Bus Co., Ltd. 50,000 432,061 * China Nuclear Industry 23 International Corp., Ltd. 946,000 136,549 * China Oriental Culture Group, Ltd. 144,000 5,653 * China Outdoor Media Group, Ltd. 7,765,000 44,011 * China Renji Medical Group, Ltd. 26,046,000 144,753 * China Solar Energy Holdings, Ltd. 1,669,500 38,760 China Star Entertainment, Ltd. 700,000 11,354 * China Strategic Holdings, Ltd. 12,585,000 218,719 China Ting Group Holdings, Ltd. 2,443,151 192,292 * China Tycoon Beverage Holdings, Ltd. 2,732,000 29,952 China-Hongkong Photo Products Holdings, Ltd. 1,967,000 162,331 Chinney Investment, Ltd. 1,144,000 175,876 # Chong Hing Bank, Ltd. 962,000 4,333,654 THE ASIA PACIFIC SMALL COMPANY SERIES CONTINUED Shares Value++ ----------- ----------- HONG KONG -- (Continued) # Chow Sang Sang Holdings International, Ltd. 1,967,000 $ 6,379,263 Chu Kong Shipping Enterprise Group Co., Ltd. 2,188,000 609,141 Chuang's China Investments, Ltd. 3,550,494 233,362 Chuang's Consortium International, Ltd. 5,579,837 698,809 Chun Wo Development Holdings, Ltd. 1,852,926 118,217 CITIC Telecom International Holdings, Ltd. 10,730,125 3,334,834 CK Life Sciences International Holdings, Inc. 17,804,000 1,652,555 CNT Group, Ltd. 8,315,264 343,553 * COL Capital, Ltd. 2,209,840 675,722 Convenience Retail Asia, Ltd. 42,000 29,240 * Cosmos Machinery Enterprises, Ltd. 488,400 33,417 * CP Lotus Corp. 11,420,000 353,557 Cross-Harbour Holdings, Ltd. (The) 679,520 547,362 CSI Properties, Ltd. 32,156,383 1,118,510 * CST Mining Group, Ltd. 71,688,000 824,093 * Culture Landmark Investment, Ltd. 509,800 51,599 #* Culturecom Holdings, Ltd. 3,150,000 564,397 Dah Sing Banking Group, Ltd. 2,674,797 5,037,902 Dah Sing Financial Holdings, Ltd. 884,627 5,525,812 Dan Form Holdings Co., Ltd. 3,668,260 416,005 Dickson Concepts International, Ltd. 1,258,000 783,287 * Dingyi Group Investment, Ltd. 5,497,500 404,176 Dorsett Hospitality International, Ltd. 4,711,200 1,032,676 * DVN Holdings, Ltd. 823,000 67,927 Eagle Nice International Holdings, Ltd. 1,116,000 201,453 EcoGreen Fine Chemicals Group, Ltd. 1,202,000 263,987 * EganaGoldpfeil Holdings, Ltd 4,121,757 -- Emperor Capital Group, Ltd. 1,962,000 87,444 Emperor Entertainment Hotel, Ltd. 3,680,000 1,849,619 Emperor International Holdings 6,996,753 2,010,684 # Emperor Watch & Jewellery, Ltd. 25,370,000 2,030,837 * ENM Holdings, Ltd. 15,112,000 924,157 * Enviro Energy International Holdings, Ltd. 3,906,000 85,127 * EPI Holdings, Ltd. 21,859,927 647,545 # Esprit Holdings, Ltd. 13,005,750 23,980,456 * eSun Holdings, Ltd. 4,472,000 599,715 * Ezcom Holdings, Ltd. 72,576 -- Fairwood, Ltd. 622,100 1,274,263 Far East Consortium International, Ltd. 6,031,772 1,992,924 * FIH Mobile, Ltd. 2,713,000 1,524,719 * Fountain SET Holdings, Ltd. 4,898,000 663,772 Four Seas Mercantile Hldg 592,000 242,416 Fujikon Industrial Holdings, Ltd. 736,000 195,457 #* G-Resources Group, Ltd. 140,109,600 4,187,295 Get Nice Holdings, Ltd. 22,008,000 1,006,827 # Giordano International, Ltd. 9,084,000 8,521,138 # Glorious Sun Enterprises, Ltd. 2,702,000 616,919 Gold Peak Industries Holding, Ltd. 3,118,642 337,971 Golden Resources Development International, Ltd. 3,330,500 182,377 * Goldin Financial Holdings, Ltd. 480,000 142,947 #* Goldin Properties Holdings, Ltd. 3,044,000 1,404,880 * Grande Holdings, Ltd. (The) 882,000 46,643 THE ASIA PACIFIC SMALL COMPANY SERIES CONTINUED Shares Value++ ---------- ---------- HONG KONG -- (Continued) Great Eagle Holdings, Ltd. 70,160 $ 250,288 * Greenheart Group, Ltd. 24,000 1,794 Guangnan Holdings, Ltd. 2,249,600 284,450 # Guotai Junan International Holdings, Ltd. 3,543,000 1,518,326 # Haitong International Securities Group, Ltd. 2,683,379 1,319,769 * Hang Fung Gold Technology, Ltd. 1,972,482 -- * Hao Tian Development Group, Ltd. 10,556,000 469,269 # Harbour Centre Development, Ltd. 963,500 1,767,577 High Fashion International 268,000 102,043 HKR International, Ltd. 5,934,336 2,902,095 Hon Kwok Land Investment Co., Ltd. 314,800 121,293 * Hong Fok Land, Ltd. 1,210,000 -- Hong Kong Aircraft Engineering Co., Ltd. 73,200 981,656 Hong Kong Ferry Holdings Co., Ltd. 809,300 812,703 # Hong Kong Television Network, Ltd. 2,401,751 786,763 Hongkong & Shanghai Hotels (The) 920,000 1,447,808 Hongkong Chinese, Ltd. 5,092,000 1,130,714 Hop Hing Group Holdings, Ltd. 1,292,000 54,947 Hopewell Holdings, Ltd. 1,804,000 6,087,002 Hsin Chong Construction Group, Ltd. 3,751,658 512,553 Hung Hing Printing Group, Ltd. 1,412,000 203,931 # Hutchison Telecommunications Hong Kong Holdings, Ltd. 9,652,000 4,272,800 * Hybrid Kinetic Group, Ltd. 4,936,000 75,110 * Hycomm Wireless, Ltd. 77,090 9,064 * Imagi International Holdings, Ltd. 43,000,000 515,517 #* Integrated Waste Solutions Group Holdings, Ltd. 952,000 166,996 IPE Group, Ltd. 2,655,000 191,713 * IRC, Ltd. 6,536,000 707,330 # IT, Ltd. 3,816,532 1,161,603 ITC Corp., Ltd. 856,708 56,303 ITC Properties Group, Ltd. 3,590,186 1,361,758 * Jinhui Holdings, Ltd. 121,000 27,641 * JLF Investment Co., Ltd. 1,623,500 112,835 Johnson Electric Holdings, Ltd. 5,796,000 4,171,793 # K Wah International Holdings, Ltd. 7,495,545 4,110,443 Kam Hing International Holdings, Ltd. 1,830,000 148,971 Kantone Holdings, Ltd. 8,515,145 114,252 Karrie International Hldgs 1,337,200 48,193 Keck Seng Investments 904,600 506,160 * King Pacific International Holdings, Ltd. 1,404,200 -- * King Stone Energy Group, Ltd. 7,296,000 327,767 Kingmaker Footwear Holdings, Ltd. 1,532,955 353,937 Kingston Financial Group, Ltd. 15,477,000 1,755,980 * Ko Yo Chemical Group, Ltd. 15,800,000 211,948 Kowloon Development Co., Ltd. 2,334,000 2,881,168 Kwoon Chung Bus Hldgs 260,000 64,570 * Lai Sun Development 71,467,466 2,046,488 * Lai Sun Garment International, Ltd. 2,948,000 537,473 Lam Soon Hong Kong, Ltd. 302,310 212,584 Landsea Green Properties Co., Ltd. 812,000 87,893 * Leading Spirit High-Tech Holdings Co., Ltd. 2,310,000 -- Lee's Pharmaceutical Holdings, Ltd. 505,000 468,821 THE ASIA PACIFIC SMALL COMPANY SERIES CONTINUED Shares Value++ ---------- ----------- HONG KONG -- (Continued) Lerado Group Holdings Co. 1,900,000 $ 215,955 Lifestyle International Holdings, Ltd. 35,000 76,273 * Lifestyle Properties Development, Ltd. 1,750 354 Lippo China Resources, Ltd. 11,788,000 356,976 Lippo, Ltd. 1,195,700 599,744 * Lisi Group Holdings, Ltd. 3,758,000 179,207 # Liu Chong Hing Investment 837,200 1,859,367 Luen Thai Holdings, Ltd. 1,159,000 426,053 # Luk Fook Holdings International, Ltd. 2,289,000 8,142,153 Luks Group Vietnam Holdings Co., Ltd. 482,913 129,327 Lung Kee Bermuda Holdings 1,613,875 595,023 Magnificent Estates 13,558,000 656,432 Mainland Headwear Holdings, Ltd. 313,600 29,548 Man Wah Holdings, Ltd. 2,492,000 4,282,069 Man Yue Technology Holdings, Ltd. 980,000 122,576 Matrix Holdings, Ltd. 1,067,414 259,924 * Mei Ah Entertainment Group, Ltd. 11,040,000 157,878 Melbourne Enterprises, Ltd. 40,500 785,495 # Melco International Development, Ltd. 6,017,000 18,925,645 # Midland Holdings, Ltd. 4,946,000 2,015,597 Ming Fai International Holdings, Ltd. 1,765,000 193,425 * Ming Fung Jewellery Group, Ltd. 13,090,000 418,514 Miramar Hotel & Investment 870,000 1,115,700 * Mongolia Energy Corp., Ltd. 10,603,000 375,810 #* Mongolian Mining Corp. 8,710,500 1,438,400 NagaCorp, Ltd. 648,000 598,392 Nanyang Holdings 137,500 568,007 National Electronic Hldgs 2,498,000 312,341 Natural Beauty Bio-Technology, Ltd. 4,040,000 260,584 #* Neo-Neon Holdings, Ltd. 4,065,000 942,266 * Neptune Group, Ltd. 12,860,000 588,412 New Century Group Hong Kong, Ltd. 13,351,464 268,564 * New Smart Energy Group, Ltd. 15,176,250 260,527 #* New Times Energy Corp., Ltd. 1,297,600 115,499 Newocean Energy Holdings, Ltd. 7,110,000 4,347,637 * Next Media, Ltd. 4,095,183 449,012 * Norstar Founders Group, Ltd. 3,256,000 -- * North Asia Resources Holdings, Ltd. 998,600 19,711 * Orange Sky Golden Harvest Entertainment Holdings, Ltd. 6,229,706 301,459 # Orient Overseas International, Ltd. 95,000 490,686 * Orient Power Holdings, Ltd. 804,000 -- # Oriental Watch Holdings 3,160,800 1,011,078 Pacific Andes International Holdings, Ltd. 11,385,378 513,430 Pacific Basin Shipping, Ltd. 11,222,000 8,030,542 Pacific Textile Holdings, Ltd. 3,060,000 4,191,895 Paliburg Holdings, Ltd. 3,152,830 1,012,582 * Pan Asia Environmental Protection Group, Ltd. 80,000 14,858 * Paradise Entertainment, Ltd. 296,000 86,921 PCCW, Ltd. 3,996,000 1,809,522 #* Peace Mark Holdings, Ltd. 2,738,022 -- * Pearl Oriental Oil, Ltd. 11,918,400 409,428 Pegasus International Holdings, Ltd. 226,000 32,463 THE ASIA PACIFIC SMALL COMPANY SERIES CONTINUED Shares Value++ ---------- ---------- HONG KONG -- (Continued) Pico Far East Holdings, Ltd. 4,822,000 $1,524,918 * Ping Shan Tea Group, Ltd. 2,633,325 77,429 Playmates Holdings, Ltd. 554,000 696,340 PNG Resources Holdings, Ltd. 28,866,362 479,771 Pokfulam Development Co. 234,000 376,504 * Poly Capital Holdings, Ltd. 1,154,000 18,166 Polytec Asset Holdings, Ltd. 10,878,526 1,390,014 Public Financial Holdings, Ltd. 3,194,000 1,669,428 PYI Corp., Ltd. 24,381,973 591,249 * Pyxis Group, Ltd. 1,936,000 42,451 Raymond Industrial, Ltd. 30,400 3,681 Regal Hotels International Holdings, Ltd. 2,809,800 1,536,638 Richfield Group Holdings, Ltd. 9,672,000 258,069 * Rising Development Holdings, Ltd. 2,148,000 138,862 Rivera Holdings, Ltd. 5,710,000 232,244 SA SA International Holdings, Ltd. 7,008,000 7,672,215 Safety Godown Co., Ltd. 398,000 513,694 Samsonite International SA 214,500 584,942 * San Miguel Brewery Hong Kong, Ltd. 158,800 26,011 * Sandmartin International Holdings, Ltd. 84,000 5,188 * Sanyuan Group, Ltd. 415,000 -- SAS Dragon Hldg, Ltd. 430,000 242,587 # SEA Holdings, Ltd. 1,158,000 657,242 # Shenyin Wanguo HK, Ltd. 1,937,500 689,080 * Shougang Concord Technology Holdings 5,219,809 319,805 * Shun Ho Resources Holdings, Ltd. 189,000 39,633 * Shun Ho Technology Holdings, Ltd. 1,037,452 225,233 Shun Tak Holdings, Ltd. 10,767,419 6,237,351 #* Silver base Group Holdings, Ltd. 4,977,677 827,184 * Sing Pao Media Enterprises, Ltd. 250,511 -- Sing Tao News Corp., Ltd. 1,974,000 285,103 Singamas Container Holdings, Ltd. 10,014,000 2,324,227 * Sino Distillery Group, Ltd. 2,230,000 135,082 * Sino-Tech International Holdings, Ltd. 29,380,000 125,035 * Sinocan Holdings, Ltd. 350,000 -- * Sinocop Resources Holdings, Ltd. 1,040,000 89,821 SIS International Holdings 34,000 12,929 Sitoy Group Holdings, Ltd. 448,000 245,847 # SmarTone Telecommunications Holdings, Ltd. 2,626,500 3,459,273 SOCAM Development, Ltd. 1,704,771 2,027,287 * Solomon Systech International, Ltd. 8,590,000 393,274 Soundwill Holdings, Ltd. 406,000 727,949 * South China China, Ltd. 6,744,000 645,544 * South China Land, Ltd. 15,207,170 339,181 Stella International Holdings, Ltd. 308,000 760,231 Stelux Holdings International, Ltd. 3,100,400 1,055,827 * Success Universe Group, Ltd. 5,948,000 361,094 Sun Hing Vision Group Holdings, Ltd. 358,000 124,219 Sun Hung Kai & Co., Ltd. 3,017,429 1,698,666 * Sun Innovation Holdings, Ltd. 9,295,655 159,140 * Sunway International Holdings, Ltd. 50,000 2,257 #* Sustainable Forest Holdings, Ltd. 1,128,374 25,767 THE ASIA PACIFIC SMALL COMPANY SERIES CONTINUED Shares Value++ ---------- ----------- HONG KONG -- (Continued) TAI Cheung Holdings 2,019,000 $ 1,531,530 TAI Sang Land Developement, Ltd. 804,910 395,446 * Talent Property Group, Ltd. 4,701,420 79,318 # Tan Chong International, Ltd. 1,212,000 480,164 # Tao Heung Holdings, Ltd. 517,000 396,586 #* Taung Gold International, Ltd. 14,590,000 299,214 Television Broadcasts, Ltd. 536,900 3,135,578 Termbray Industries International 2,304,900 213,926 Tern Properties 51,200 28,900 Texwinca Holdings, Ltd. 3,322,000 3,393,919 Tian Teck Land 1,054,000 1,157,886 #* Titan Petrochemicals Group, Ltd. 13,140,000 4,237 * Tom Group, Ltd. 2,120,000 407,136 Tongda Group Holdings, Ltd. 17,440,000 989,880 * Topsearch International Holdings, Ltd. 186,000 5,628 * Town Health International Investments, Ltd. 1,175,165 309,328 Tradelink Electronic Commerce, Ltd. 2,816,000 697,084 # Transport International Holdings, Ltd. 1,001,741 2,255,785 Trinity, Ltd. 7,266,000 2,716,019 Tristate Holdings, Ltd. 188,000 79,403 * TSC Group Holdings, Ltd. 2,801,000 950,401 Tse Sui Luen Jewellery International, Ltd. 300,000 145,017 Tysan Holdings, Ltd. 1,040,773 362,963 * U-RIGHT International Holdings, Ltd. 142,380 7,346 #* United Laboratories International Holdings, Ltd. (The) 3,920,000 1,653,502 * Universal Technologies Holdings, Ltd. 7,630,000 443,085 * Up Energy Development Group, Ltd. 3,205,000 183,997 * Value Convergence Holdings, Ltd. 1,756,000 259,550 # Value Partners Group, Ltd. 4,879,000 2,961,189 Van Shung Chong Holdings, Ltd. 789,335 135,510 Vanke Property Overseas, Ltd. 4,000 5,716 Varitronix International, Ltd. 1,660,293 1,476,034 Vedan International Holdings, Ltd. 3,272,000 194,535 Victory City International Holdings, Ltd. 6,194,514 870,076 # Vitasoy International Holdings, Ltd. 4,145,000 5,344,997 VST Holdings, Ltd. 4,707,600 929,079 VTech Holdings, Ltd. 8,400 119,949 Wai Kee Holdings, Ltd. 7,864,738 2,092,502 Wang On Group, Ltd. 27,831,286 509,837 * Warderly International Holdings, Ltd. 520,000 32,194 Water Oasis Group, Ltd. 1,346,000 105,751 Win Hanverky Holdings, Ltd. 1,812,000 207,843 Wing Hang Bank, Ltd. 292,500 4,148,289 Wing On Co. International, Ltd. 781,000 2,246,058 Wing Tai Properties, Ltd. 1,957,331 1,188,799 Wong's International Hldgs 737,641 251,128 Wong's Kong King International 120,000 10,839 Xinyi Glass Holdings, Ltd. 12,292,000 12,189,775 * Xpress Group, Ltd. 440,000 19,357 Yangtzekiang Garment, Ltd. 606,500 228,568 Yau Lee Holdings, Ltd. 534,000 121,107 Yeebo International Hldg 572,000 84,079 THE ASIA PACIFIC SMALL COMPANY SERIES CONTINUED Shares Value++ ---------- ------------ HONG KONG -- (Continued) # YGM Trading, Ltd. 460,000 $ 1,036,841 YT Realty Group, Ltd. 749,000 220,030 * Yugang International, Ltd. 93,492,000 627,022 * Zhuhai Holdings Investment Group, Ltd. 2,558,000 501,584 ------------ TOTAL HONG KONG 348,377,952 ------------ NEW ZEALAND -- (6.3%) #* A2 Corp., Ltd. 285,785 160,983 Abano Healthcare Group, Ltd. 29,547 167,088 # Air New Zealand, Ltd. 2,301,073 3,061,186 # Auckland International Airport, Ltd. 355,350 1,005,936 #* Bathurst Resources New Zealand, Ltd. 1,666,560 306,907 Briscoe Group, Ltd. 2,235 4,392 Cavalier Corp., Ltd. 283,674 426,367 # CDL Investments New Zealand, Ltd. 163,215 73,856 # Chorus, Ltd. 923,718 2,021,675 Colonial Motor Co., Ltd. (The) 148,846 605,761 #* Diligent Board Member SVCS 82,102 296,915 # Ebos Group, Ltd. 355,805 2,850,216 # Fisher & Paykel Healthcare Corp., Ltd. 3,375,400 10,265,529 # Freightways, Ltd. 842,276 3,040,371 # Hallenstein Glasson Holdings, Ltd. 245,661 999,778 Heartland New Zealand, Ltd. 179,542 124,408 # Hellaby Holdings, Ltd. 372,546 876,979 # Infratil, Ltd. 2,679,116 5,532,090 Kathmandu Holdings, Ltd. 224,000 718,935 Mainfreight, Ltd. 468,315 4,486,874 Methven, Ltd. 93,877 112,413 # Metlifecare, Ltd. 120,817 407,186 Michael Hill International, Ltd. 1,534,152 1,938,339 Millennium & Copthorne Hotels New Zealand, Ltd. 1,387,344 768,989 New Zealand Oil & Gas, Ltd. 2,036,646 1,413,145 # New Zealand Refining Co., Ltd. (The) 591,259 1,099,119 Northland Port Corp. NZ, Ltd. 152,795 359,136 # Nuplex Industries, Ltd. 1,092,713 3,158,622 # NZX, Ltd. 947,061 986,510 # Opus International Consultants, Ltd. 12,925 20,835 * Pacific Edge, Ltd. 88,020 90,972 PGG Wrightson, Ltd. 980,136 332,113 * Pike River Coal, Ltd. 490,805 -- Port of Tauranga, Ltd. 528,322 6,019,074 * Pumpkin Patch, Ltd. 606,913 496,200 * Rakon, Ltd. 224,519 38,919 # Restaurant Brands New Zealand, Ltd. 461,634 1,135,514 Richina Pacific, Ltd. 274,180 81,530 * Rubicon, Ltd. 1,485,105 436,571 # Ryman Healthcare, Ltd. 1,742,405 10,861,648 # Sanford Ltd. 393,618 1,484,709 Scott Technology, Ltd. 36,510 65,493 # Skellerup Holdings, Ltd. 507,716 712,436 Sky Network Television, Ltd. 1,319,448 6,757,325 # SKYCITY Entertainment Group, Ltd. 3,420,386 10,984,846 THE ASIA PACIFIC SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ----------- NEW ZEALAND -- (Continued) Steel & Tube Holdings, Ltd. 408,278 $ 1,071,110 Tourism Holdings, Ltd. 274,867 181,596 Tower, Ltd. 790,254 1,208,164 Trade Me, Ltd. 336,316 1,249,682 # TrustPower, Ltd. 68,345 389,529 Vector, Ltd. 1,076,417 2,319,893 Warehouse Group, Ltd. (The) 617,046 1,875,725 #* Xero, Ltd. 103,801 2,399,624 ----------- TOTAL NEW ZEALAND 97,483,213 ----------- PHILIPPINES -- (0.0%) # Del Monte Pacific, Ltd. 26,000 17,016 ----------- SINGAPORE -- (11.6%) #* Abterra, Ltd. 531,800 233,672 # Amara Holdings, Ltd. 950,000 423,883 Amtek Engineering, Ltd. 1,297,000 500,424 Armstrong Industrial Corp., Ltd. 1,815,000 584,611 # ASL Marine Holdings, Ltd. 816,600 436,629 Aspial Corp., Ltd. 67,000 21,303 # Ausgroup, Ltd. 3,323,000 789,519 # Baker Technology, Ltd. 1,272,000 265,898 Banyan Tree Holdings, Ltd. 1,053,000 572,724 # Biosensors International Group, Ltd. 5,984,237 4,524,790 Bonvests Holdings, Ltd. 978,000 920,614 Boustead Singapore, Ltd. 1,659,261 2,010,281 # Breadtalk Group, Ltd. 850,800 630,333 * Broadway Industrial Group, Ltd. 1,374,000 248,824 Bukit Sembawang Estates, Ltd. 614,003 3,038,136 # Bund Center Investment, Ltd. 2,717,000 446,958 Centurion Corp., Ltd. 26,000 11,578 CH Offshore, Ltd. 1,642,400 560,797 # China Aviation Oil Singapore Corp., Ltd. 1,322,000 989,559 # China Merchants Holdings Pacific, Ltd. 813,000 556,275 # Chip Eng Seng Corp., Ltd. 3,546,800 2,010,509 Chuan Hup Holdings, Ltd. 3,967,000 910,005 Cityspring Infrastructure Trust 1,268,000 489,614 # Cosco Corp. Singapore, Ltd. 6,840,000 4,311,915 Creative Technology, Ltd. 272,200 483,815 CSC Holdings, Ltd. 2,495,000 203,229 CSE Global, Ltd. 3,192,000 2,424,846 # CWT, Ltd. 1,393,700 1,558,636 Datapulse Technology, Ltd. 89,000 17,209 * Delong Holdings, Ltd. 1,361,000 393,121 DMX Technologies Group, Ltd. 2,096,000 370,443 # Dyna-Mac Holdings, Ltd. 2,015,000 647,965 # Elec & Eltek International Co., Ltd. 147,000 288,096 Ellipsiz, Ltd. 123,000 8,406 EnGro Corp., Ltd. 354,000 282,166 # Etika International Holdings, Ltd. 575,000 201,570 Eu Yan Sang International, Ltd. 809,800 488,376 * euNetworks Group, Ltd. 8,220 5,128 THE ASIA PACIFIC SMALL COMPANY SERIES CONTINUED Shares Value++ ---------- ---------- SINGAPORE -- (Continued) # Ezion Holdings, Ltd. 854,000 $1,537,080 #* Ezra Holdings, Ltd. 4,875,000 5,254,031 # Falcon Energy Group, Ltd. 1,951,000 609,938 Far East Orchard, Ltd. 1,070,598 1,687,729 First Resources, Ltd. 139,000 218,080 FJ Benjamin Holdings, Ltd. 1,305,000 256,984 Food Empire Holdings, Ltd. 1,256,400 667,249 * Forterra Trust 98,000 171,196 # Fragrance Group, Ltd. 6,168,000 1,017,775 Freight Links Express Holdings, Ltd. 9,159,901 788,554 #* Gallant Venture, Ltd. 5,073,000 1,120,614 GK Goh Holdings, Ltd. 1,458,000 1,026,113 * Global Yellow Pages, Ltd. 299,000 22,160 # GMG Global, Ltd. 17,887,000 1,453,956 Goodpack, Ltd. 1,578,000 2,432,413 GP Batteries International, Ltd. 343,000 221,123 GP Industries, Ltd. 2,643,209 1,084,565 GuocoLand, Ltd. 410,314 742,893 # GuocoLeisure, Ltd. 3,287,000 2,180,409 * Hanwell Holdings, Ltd. 1,823,419 382,390 #* Healthway Medical Corp., Ltd. 8,042,776 433,897 HG Metal Manufacturing, Ltd. 1,768,000 112,217 Hi-P International, Ltd. 1,309,000 636,937 Hiap Hoe, Ltd. 353,000 229,807 Hiap Seng Engineering, Ltd. 612,000 130,545 * HLH Group, Ltd. 8,364,000 134,274 Ho Bee Land, Ltd. 1,652,000 2,735,172 Hong Fok Corp., Ltd. 3,323,640 1,911,569 Hong Leong Asia, Ltd. 702,000 821,737 Hotel Grand Central, Ltd. 1,331,073 1,134,238 Hotel Properties, Ltd. 1,385,400 3,500,131 Hour Glass, Ltd. (The) 622,744 847,383 HTL International Holdings, Ltd. 1,063,843 273,717 * Huan Hsin Holdings, Ltd. 343,400 10,228 HupSteel, Ltd. 1,572,875 279,088 Hwa Hong Corp., Ltd. 2,186,000 545,265 # Hyflux, Ltd. 3,212,500 2,995,828 IFS Capital, Ltd. 248,080 89,147 # Indofood Agri Resources, Ltd. 3,448,000 2,524,032 InnoTek, Ltd. 950,000 260,529 #* International Healthway Corp., Ltd. 637,656 185,141 IPC Corp., Ltd. 4,265,000 527,453 Isetan Singapore, Ltd. 122,500 436,014 Jaya Holdings, Ltd. 2,280,000 1,256,173 #* Jiutian Chemical Group, Ltd. 10,128,000 715,752 #* Jurong Technologies Industrial Corp., Ltd. 2,227,680 -- K-Green Trust 1,330,000 1,097,037 K1 Ventures, Ltd. 4,793,500 703,265 # Keppel Telecommunications & Transportation, Ltd. 1,409,600 1,767,886 Koh Brothers Group, Ltd. 1,432,000 340,186 * Lafe Corp., Ltd. 700,000 39,792 LC Development, Ltd. 3,569,504 442,208 THE ASIA PACIFIC SMALL COMPANY SERIES CONTINUED Shares Value++ ---------- ---------- SINGAPORE -- (Continued) Lee Kim Tah Holdings, Ltd. 1,600,000 $1,162,981 * Li Heng Chemical Fibre Technologies, Ltd. 2,053,000 203,746 Lian Beng Group, Ltd. 1,917,000 855,792 # Low Keng Huat Singapore, Ltd. 878,000 484,185 Lum Chang Holdings, Ltd. 1,094,030 308,264 M1, Ltd. 1,533,000 4,200,936 * Manhattan Resources, Ltd. 911,000 245,122 Marco Polo Marine, Ltd. 963,000 290,082 mDR, Ltd. 3,997,000 35,320 * Mercator Lines Singapore, Ltd. 555,000 48,916 Mermaid Maritime PCL 1,066,000 278,710 # Metro Holdings, Ltd. 2,085,792 1,400,579 # Mewah International, Inc. 1,773,000 685,772 # Midas Holdings, Ltd. 8,006,000 3,214,613 # Nam Cheong Ltd 7,126,740 1,635,593 #* Neptune Orient Lines, Ltd. 595,000 506,803 New Toyo International Holdings, Ltd. 1,624,000 379,376 NSL, Ltd. 422,000 485,858 #* Oceanus Group, Ltd. 13,109,000 157,684 OKP Holdings, Ltd. 207,000 59,833 # OSIM International, Ltd. 1,539,000 2,613,370 #* Otto Marine, Ltd. 6,886,500 292,729 # OUE, Ltd. 1,863,000 3,626,406 Pan-United Corp., Ltd. 2,006,000 1,554,883 PEC, Ltd. 47,000 23,046 * Penguin International, Ltd. 400,000 37,301 # Petra Foods, Ltd. 804,000 2,299,083 Popular Holdings, Ltd. 2,763,650 567,730 QAF, Ltd. 1,184,483 800,274 #* Raffles Education Corp., Ltd. 4,104,710 991,105 Raffles Medical Group, Ltd. 543,330 1,395,181 Rickmers Maritime 888,000 207,162 Rotary Engineering, Ltd. 1,463,600 759,500 # Roxy-Pacific Holdings, Ltd. 297,500 144,388 * S I2I, Ltd. 17,004,000 245,998 San Teh, Ltd. 999,087 249,847 * Sapphire Corp., Ltd. 704,000 63,444 SBS Transit, Ltd. 953,500 986,226 See Hup Seng, Ltd. 1,706,000 410,596 # Sheng Siong Group, Ltd. 1,085,000 540,736 Sim Lian Group, Ltd. 2,281,855 1,644,008 # Sinarmas Land, Ltd. 5,725,000 2,529,236 # Sing Holdings, Ltd. 1,134,000 401,873 Sing Investments & Finance, Ltd. 297,675 325,850 # Singapore Post, Ltd. 9,103,120 9,596,310 Singapore Reinsurance Corp., Ltd. 1,514,530 309,188 Singapore Shipping Corp., Ltd. 1,689,000 285,890 Singapura Finance, Ltd. 174,062 217,081 #* Sino Grandness Food Industry Group, Ltd. 1,926,000 1,107,417 # SMRT Corp., Ltd. 1,592,000 1,664,979 Stamford Land Corp., Ltd. 3,258,000 1,493,453 Straco Corp., Ltd. 130,000 41,052 THE ASIA PACIFIC SMALL COMPANY SERIES CONTINUED Shares Value++ ----------- -------------- SINGAPORE -- (Continued) Sunningdale Tech, Ltd. 2,398,000 $ 244,672 * SunVic Chemical Holdings, Ltd. 1,650,000 577,647 Super Group, Ltd. 1,002,000 3,387,980 # Swiber Holdings, Ltd. 3,974,000 2,000,542 Swissco Holdings, Ltd. 295,000 67,577 # Tat Hong Holdings, Ltd. 2,072,800 1,557,323 #* Technics Oil & Gas, Ltd. 42,000 27,040 * Technovator International, Ltd. 34,000 13,882 Thakral Corp., Ltd. 5,601,000 130,881 # Tiong Woon Corp. Holding, Ltd. 2,152,250 561,430 #* Triyards holdings, Ltd. 348,900 190,572 Tuan Sing Holdings, Ltd. 4,074,495 1,049,486 # UMS Holdings, Ltd. 1,308,000 584,741 United Engineers, Ltd. 2,700,028 4,020,666 # United Envirotech, Ltd. 2,478,000 1,663,214 United Overseas Insurance, Ltd. 187,250 646,494 # UOB-Kay Hian Holdings, Ltd. 1,798,400 2,405,840 # UPP Holdings, Ltd. 3,060,000 650,675 #* Vard Holdings, Ltd. 3,815,000 2,696,040 # Venture Corp., Ltd. 1,600,000 10,019,818 Vicom, Ltd. 120,000 473,650 # Wee Hur Holdings, Ltd. 2,479,000 639,046 Wheelock Properties Singapore, Ltd. 1,210,000 1,655,810 Wing Tai Holdings, Ltd. 2,724,567 4,837,547 #* Xpress Holdings, Ltd. 1,281,000 24,715 # Yeo Hiap Seng, Ltd. 223,731 458,449 YHI International, Ltd. 1,174,000 252,728 # Yongnam Holdings, Ltd. 8,048,000 1,555,249 -------------- TOTAL SINGAPORE 179,312,978 -------------- TOTAL COMMON STOCKS 1,259,639,911 -------------- RIGHTS/WARRANTS -- (0.0%) AUSTRALIA -- (0.0%) * Centrebet International, Ltd. Litigation Rights 81,336 -- -------------- HONG KONG -- (0.0%) * Emperor Capital Group, Ltd. Rights 11/22/13 327 -- -------------- TOTAL RIGHTS/WARRANTS -- -------------- Shares/ Face Amount (000) Value+ ----------- -------------- SECURITIES LENDING COLLATERAL -- (18.7%) (S)@ DFA Short Term Investment Fund 25,064,823 290,000,000 @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.09%, 11/01/13 (Collateralized by $507,256 U.S. Treasury Note 2.375%, 09/30/14, valued at $518,619) to be repurchased at $506,216 $ 506 506,215 THE ASIA PACIFIC SMALL COMPANY SERIES CONTINUED @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $51,657 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $46,714) to be repurchased at $45,798 46 $ 45,798 -------------- TOTAL SECURITIES LENDING COLLATERAL 290,552,013 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $1,443,079,348) $1,550,191,924 ============== THE UNITED KINGDOM SMALL COMPANY SERIES SCHEDULE OF INVESTMENTS October 31, 2013 Shares Value++ ---------- ----------- COMMON STOCKS -- (98.5%) Consumer Discretionary -- (26.5%) 4imprint Group P.L.C. 97,044 $ 978,425 888 Holdings P.L.C. 787,950 2,008,050 * Aga Rangemaster Group P.L.C. 453,866 939,777 Barratt Developments P.L.C. 5,157,995 27,660,094 Bellway P.L.C. 652,849 15,724,768 Berkeley Group Holdings P.L.C. 650,346 24,378,283 Betfair Group P.L.C. 63,296 1,020,866 Bloomsbury Publishing P.L.C. 283,806 784,019 BOOT HENRY P.L.C. 432,804 1,252,428 Bovis Homes Group P.L.C. 875,787 11,017,797 Bwin.Party Digital Entertainment P.L.C. 2,880,414 5,659,185 * Carpetright P.L.C. 2,855 28,545 # Centaur Media P.L.C. 556,967 500,647 Chime Communications P.L.C. 304,315 1,544,867 Cineworld Group P.L.C. 701,265 4,170,251 Creston P.L.C. 22,394 36,016 Daily Mail & General Trust P.L.C. 1,328,069 17,321,746 Darty P.L.C. 55,620 73,232 Debenhams P.L.C. 6,498,732 10,601,548 Dignity P.L.C. 222,479 4,972,966 * Dixons Retail P.L.C. 16,850,562 13,202,433 Domino's Pizza Group P.L.C. 440,599 4,131,950 Dunelm Group P.L.C. 213,012 3,025,016 * Enterprise Inns P.L.C. 2,687,428 6,529,023 # Euromoney Institutional Investor P.L.C. 295,537 5,096,313 Fiberweb P.L.C. 729,920 1,190,105 * Findel P.L.C. 299,050 1,220,455 * Forminster P.L.C. 43,333 -- Fuller Smith & Turner P.L.C. 137,316 1,995,758 * Future P.L.C. 1,301,863 344,505 Games Workshop Group P.L.C. 101,889 1,274,033 Greene King P.L.C. 1,421,372 18,808,719 Halfords Group P.L.C. 1,072,399 7,263,247 Headlam Group P.L.C. 337,290 2,143,820 Home Retail Group P.L.C. 4,196,363 13,388,556 # Hornby P.L.C. 154,220 197,185 Howden Joinery Group P.L.C. 2,676,884 13,843,959 Huntsworth P.L.C. 912,563 957,242 Inchcape P.L.C. 2,319,770 23,684,611 Informa P.L.C. 3,121,619 27,964,781 ITV P.L.C. 2,941,998 8,995,393 JD Sports Fashion P.L.C. 120,013 2,186,775 JD Wetherspoon P.L.C. 481,499 5,445,036 John Menzies P.L.C. 247,022 3,245,468 #* Johnston Press P.L.C. 1,007,737 218,664 Ladbrokes P.L.C. 4,483,503 13,723,124 Laura Ashley Holdings P.L.C. 1,500,394 635,974 Lookers P.L.C. 1,351,597 2,814,336 Marston's P.L.C. 3,122,248 7,602,240 Mecom Group P.L.C. 332,622 357,489 Millennium & Copthorne Hotels P.L.C. 1,048,561 9,583,968 THE UNITED KINGDOM SMALL COMPANY SERIES CONTINUED Shares Value++ ---------- ------------ Consumer Discretionary -- (Continued) * Mitchells & Butlers P.L.C. 1,030,286 $ 6,618,276 MJ Gleeson Group P.L.C. 195,875 976,880 * Mothercare P.L.C. 259,175 1,588,261 N Brown Group P.L.C. 874,754 7,351,050 #* Ocado Group P.L.C. 881,953 6,138,335 Pendragon P.L.C. 3,928,043 2,393,349 Persimmon P.L.C. 1,366,507 27,666,555 Photo-Me International P.L.C. 142,122 303,064 * Punch Taverns P.L.C. 2,668,837 579,987 Rank Group P.L.C. 89,209 205,000 Redrow P.L.C. 1,505,347 6,393,340 Restaurant Group P.L.C. (The) 949,028 8,757,959 Rightmove P.L.C. 319,449 13,574,746 Smiths News P.L.C. 973,222 3,281,392 Spirit Pub Co. P.L.C. 3,103,818 3,644,328 * Sportech P.L.C. 384,214 535,958 * Sports Direct International P.L.C. 716,338 8,050,265 * STV Group P.L.C. 4,868 24,611 * SuperGroup P.L.C. 193,888 3,644,303 Taylor Wimpey P.L.C. 15,614,170 27,549,112 Ted Baker P.L.C. 145,093 3,963,022 * Thomas Cook Group P.L.C. 7,517,966 17,303,141 Topps Tiles P.L.C. 816,215 1,156,426 * Torotrak P.L.C. 45,292 19,789 #* Trinity Mirror P.L.C. 1,688,565 3,604,539 TUI Travel P.L.C. 779,922 4,808,175 UBM P.L.C. 319,562 3,498,099 UTV Media P.L.C. 239,587 873,643 Vitec Group P.L.C. (The) 160,973 1,809,578 WH Smith P.L.C. 678,939 9,798,167 William Hill P.L.C. 3,678,697 23,618,931 Wilmington Group P.L.C. 346,234 1,197,644 ------------ Total Consumer Discretionary 532,671,613 ------------ Consumer Staples -- (3.7%) A.G.BARR P.L.C. 424,100 3,563,404 Anglo-Eastern Plantations 108,153 1,171,092 Booker Group P.L.C. 7,511,637 18,092,064 Britvic P.L.C. 1,227,439 12,289,137 Cranswick P.L.C. 262,115 4,506,528 Dairy Crest Group P.L.C. 747,197 6,434,829 Devro P.L.C. 891,696 4,529,757 Greencore Group P.L.C. 2,335,961 6,735,134 Greggs P.L.C. 483,318 3,561,256 Hilton Food Group P.L.C. 23,544 161,333 McBride P.L.C. 855,515 1,501,924 * Premier Foods P.L.C. 1,135,338 2,742,186 # PZ Cussons P.L.C. 1,325,039 8,361,573 REA Holdings P.L.C. 50,639 325,362 * Thorntons P.L.C. 229,538 421,078 ------------ Total Consumer Staples 74,396,657 ------------ THE UNITED KINGDOM SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ------------ Energy -- (5.3%) * Afren P.L.C. 5,639,345 $ 14,254,859 AMEC P.L.C. 474,792 8,954,669 Anglo Pacific Group P.L.C. 438,805 1,561,756 * Cairn Energy P.L.C. 2,601,577 11,788,119 * Coalfield Resources P.L.C. 268,451 26,281 * EnQuest P.L.C. 3,400,510 7,270,159 * Essar Energy P.L.C. 1,162,294 2,213,585 * Exillon Energy P.L.C. 289,661 1,102,882 Fortune Oil P.L.C. 6,170,225 974,760 * Hardy Oil & Gas P.L.C. 74,781 127,028 * Heritage Oil P.L.C. 878,300 2,610,179 Hunting P.L.C. 639,376 9,134,602 James Fisher & Sons P.L.C. 212,309 3,790,333 #* JKX Oil & Gas P.L.C. 456,676 545,322 John Wood Group P.L.C. 1,377,126 17,930,742 * Lamprell P.L.C. 967,717 2,544,383 Premier Oil P.L.C. 2,484,308 13,823,320 * Salamander Energy P.L.C. 1,063,663 1,831,861 Soco International P.L.C. 1,018,017 6,495,153 ------------ Total Energy 106,979,993 ------------ Financials -- (14.2%) Admiral Group P.L.C. 11,519 235,842 Amlin P.L.C. 2,613,209 17,854,912 Ashmore Group P.L.C. 1,783,987 11,560,413 Bank of Georgia Holdings P.L.C. 88,710 2,804,672 Beazley P.L.C. 2,627,389 9,631,007 Brewin Dolphin Holdings P.L.C. 1,292,264 5,891,901 Capital & Counties Properties P.L.C. 474,174 2,637,229 Capital & Regional P.L.C. 1,493,345 1,034,733 Catlin Group, Ltd. 1,812,653 14,890,947 Charles Stanley Group P.L.C. 126,349 923,356 Charles Taylor P.L.C. 139,215 497,120 Chesnara P.L.C. 559,060 2,619,529 Close Brothers Group P.L.C. 777,213 15,739,934 Daejan Holdings P.L.C. 32,083 2,133,181 Development Securities P.L.C. 580,091 2,174,630 F&C Asset Management P.L.C. 2,273,162 3,697,628 Hansard Global P.L.C. 16,468 30,713 Hargreaves Lansdown P.L.C. 89,565 1,706,239 Helical Bar P.L.C. 668,916 3,218,316 Henderson Group P.L.C. 5,229,541 17,950,379 Hiscox, Ltd. 1,848,675 19,626,193 ICAP P.L.C. 2,874,272 17,748,601 IG Group Holdings P.L.C. 1,346,879 13,237,127 * Industrial & Commercial Holdings P.L.C. 5,000 -- Intermediate Capital Group P.L.C. 572,350 4,391,993 International Personal Finance P.L.C. 690,825 6,384,316 #* IP Group P.L.C. 1,255,608 2,959,794 Jardine Lloyd Thompson Group P.L.C. 584,697 9,370,860 Jupiter Fund Management P.L.C. 1,339,596 8,565,676 Lancashire Holdings, Ltd. 901,590 11,731,722 THE UNITED KINGDOM SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ------------ Financials -- (Continued) Liontrust Asset Management P.L.C. 129,935 $ 479,419 London Stock Exchange Group P.L.C. 236,149 6,206,929 LSL Property Services P.L.C. 151,839 1,103,184 Man Group P.L.C. 9,800,117 13,947,727 Novae Group P.L.C. 276,081 2,455,336 Phoenix Group Holdings 592,146 7,384,181 * Puma Brandenburg, Ltd. Class A 1,193,004 -- * Puma Brandenburg, Ltd. Class B 1,193,004 -- * Quintain Estates & Development P.L.C. 2,680,731 4,173,662 Rathbone Brothers P.L.C. 165,692 4,333,024 Raven Russia Ltd 663,193 833,532 S&U P.L.C. 21,140 492,797 Savills P.L.C. 616,265 6,419,651 St James's Place P.L.C. 846,493 9,162,870 ST Modwen Properties P.L.C. 957,652 5,408,560 Tullett Prebon P.L.C. 1,071,415 5,457,603 Unite Group P.L.C. 901,444 5,730,076 * Waterloo Investment Holdings, Ltd. 5,979 671 ------------ Total Financials 284,838,185 ------------ Health Care -- (2.6%) #* Alizyme P.L.C. 660,805 -- Bioquell P.L.C. 90,893 217,418 * BTG P.L.C. 1,781,080 11,984,887 Consort Medical P.L.C. 138,858 1,980,026 Dechra Pharmaceuticals P.L.C. 429,068 4,752,960 Genus P.L.C. 281,441 5,947,661 Hikma Pharmaceuticals P.L.C. 713,706 13,730,269 * Optos P.L.C. 89,392 223,230 * Oxford Biomedica P.L.C. 2,821,652 123,159 * Renovo Group P.L.C. 87,461 27,354 Synergy Health P.L.C. 287,021 4,765,097 UDG Healthcare P.L.C. 973,852 4,861,941 * Vectura Group P.L.C. 1,829,761 3,236,298 * Vernalis P.L.C. 19,974 9,190 ------------ Total Health Care 51,859,490 ------------ Industrials -- (26.3%) Air Partner P.L.C. 37,086 294,578 Alumasc Group P.L.C. 124,366 272,357 Ashtead Group P.L.C. 2,598,958 27,310,230 Avon Rubber P.L.C. 57,807 504,773 Babcock International Group P.L.C. 283,438 5,796,024 Balfour Beatty P.L.C. 3,596,658 16,448,453 BBA Aviation P.L.C. 2,792,163 15,134,152 Berendsen P.L.C. 810,481 12,621,571 Bodycote P.L.C. 1,253,236 13,210,384 Braemar Shipping Services P.L.C. 83,345 716,948 Brammer P.L.C. 391,444 3,027,551 # Camellia P.L.C. 2,481 347,254 Cape P.L.C. 582,333 2,576,089 Carillion P.L.C. 2,233,191 10,880,111 THE UNITED KINGDOM SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ----------- Industrials -- (Continued) Carr's Milling Industries P.L.C. 35,419 $ 986,855 Castings P.L.C. 162,757 1,128,582 Chemring Group P.L.C. 1,217,006 4,247,037 Clarkson P.L.C. 66,882 2,155,173 Cobham P.L.C. 5,618,202 25,946,576 Communisis P.L.C. 986,522 998,708 Costain Group P.L.C. 93,673 424,534 DCC P.L.C. 431,941 19,342,514 De La Rue P.L.C. 276,166 3,785,030 easyJet P.L.C. 504,826 10,574,659 Fenner P.L.C. 863,361 5,531,502 Firstgroup P.L.C. 5,277,432 9,759,960 G4S P.L.C. 119,584 502,289 Galliford Try P.L.C. 336,277 6,190,821 Go-Ahead Group P.L.C. 207,850 5,602,779 Goodwin P.L.C. 24 1,422 Harvey Nash Group P.L.C. 46,693 69,067 Hays P.L.C. 7,041,541 14,054,156 Helphire P.L.C. 380,980 33,414 Hogg Robinson Group P.L.C. 134,014 163,909 Homeserve P.L.C. 1,339,416 5,032,527 Hyder Consulting P.L.C. 176,908 1,545,133 Interserve P.L.C. 664,484 6,549,498 Invensys P.L.C. 2,824,855 22,668,384 ITE Group P.L.C. 1,144,948 5,918,278 Keller Group P.L.C. 333,468 5,616,830 Kier Group P.L.C. 197,606 5,721,898 Latchways P.L.C. 36,248 741,338 Lavendon Group P.L.C. 779,655 2,297,185 Management Consulting Group P.L.C. 1,519,596 596,742 Mears Group P.L.C. 457,384 3,139,234 Meggitt P.L.C. 680,570 6,247,752 Melrose Industries P.L.C. 4,156,691 21,310,110 Michael Page International P.L.C. 1,282,180 9,952,519 Mitie Group P.L.C. 1,741,651 8,778,549 Morgan Advanced Materials P.L.C. 1,420,379 6,928,737 Morgan Sindall Group P.L.C. 187,649 2,392,269 National Express Group P.L.C. 2,235,488 9,357,242 Norcros P.L.C. 85,621 26,876 Northgate P.L.C. 752,381 5,457,246 PayPoint P.L.C. 164,846 2,750,129 QinetiQ Group P.L.C. 3,080,895 9,778,072 Regus PLC 3,367,250 11,049,752 * Renold P.L.C. 153,600 106,096 Rentokil Initial P.L.C. 3,997,872 6,688,380 Ricardo P.L.C. 248,447 2,428,888 * Richmond Oil & Gas P.L.C. 220,000 -- Robert Walters P.L.C. 387,999 2,016,709 Rotork P.L.C. 335,959 15,392,385 RPS Group P.L.C. 1,266,580 5,903,580 Senior P.L.C. 2,050,757 9,786,732 Serco Group P.L.C. 1,965,238 17,561,115 THE UNITED KINGDOM SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ------------ Industrials -- (Continued) Severfield-Rowen P.L.C. 1,252,061 $ 1,278,846 Shanks Group P.L.C. 2,313,344 3,916,552 SIG P.L.C. 2,955,026 9,750,674 Speedy Hire P.L.C. 2,828,053 2,951,464 Spirax-Sarco Engineering P.L.C. 330,635 15,461,631 St Ives P.L.C. 672,895 1,946,333 Stagecoach Group P.L.C. 2,248,039 12,684,109 Sthree P.L.C. 334,391 1,922,409 # Stobart Group, Ltd. 199,854 454,654 T Clarke P.L.C. 147,457 158,362 Tarsus Group P.L.C. 208,165 825,750 Travis Perkins P.L.C. 79,590 2,366,810 Tribal Group P.L.C. 156,581 470,728 Trifast P.L.C. 443,600 561,283 UK Mail Group P.L.C. 197,261 1,846,692 Ultra Electronics Holdings P.L.C. 351,758 10,907,902 Vesuvius P.L.C. 1,449,566 11,269,234 # Volex P.L.C. 233,149 464,431 Vp P.L.C. 167,297 1,332,126 * Wincanton P.L.C. 487,185 992,565 WS Atkins P.L.C. 523,508 10,356,164 # XP Power, Ltd. 73,829 1,862,695 ------------ Total Industrials 528,161,061 ------------ Information Technology -- (7.7%) Acal P.L.C. 104,729 560,603 Anite P.L.C. 1,253,216 1,809,709 Aveva Group PLC 26,720 1,107,127 Computacenter P.L.C. 422,291 4,003,449 CSR P.L.C. 916,815 8,075,701 Diploma P.L.C. 564,734 6,272,569 Domino Printing Sciences P.L.C. 517,750 5,733,695 E2V Technologies P.L.C. 453,555 1,047,129 Electrocomponents P.L.C. 2,186,053 10,450,916 Fidessa Group P.L.C. 154,478 5,008,603 * Filtronic P.L.C. 4,262 4,499 Halma P.L.C. 1,738,128 15,266,910 * Imagination Technologies Group P.L.C. 205,118 913,437 * Innovation Group P.L.C. 4,509,376 2,296,534 * Kofax P.L.C. 354,254 2,154,224 Laird P.L.C. 1,350,522 5,402,558 Micro Focus International P.L.C. 678,082 8,887,453 Moneysupermarket.com Group P.L.C. 489,434 1,201,980 NCC Group P.L.C. 202,852 532,374 Oxford Instruments P.L.C. 147,050 3,066,487 Pace P.L.C. 1,487,713 7,265,368 Phoenix IT Group, Ltd. 204,614 480,397 Playtech P.L.C. 362,226 4,268,355 Premier Farnell P.L.C. 1,753,733 6,337,053 * PV Crystalox Solar P.L.C. 384,786 78,663 Renishaw P.L.C. 188,423 4,898,010 RM P.L.C. 363,499 666,537 THE UNITED KINGDOM SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ------------ Information Technology -- (Continued) SDL P.L.C. 347,207 $ 1,403,775 Sepura P.L.C. 188,822 441,734 Spectris P.L.C. 582,385 21,564,398 Spirent Communications P.L.C. 2,633,737 4,666,960 Telecity Group P.L.C. 656,941 8,031,378 TT electronics P.L.C. 815,556 2,603,134 Vislink P.L.C. 274,226 214,544 * Wolfson Microelectronics P.L.C. 504,759 1,134,254 Xaar P.L.C. 265,195 3,562,155 Xchanging P.L.C. 1,285,220 2,609,212 ------------ Total Information Technology 154,021,884 ------------ Materials -- (7.5%) # African Barrick Gold P.L.C. 378,833 1,170,548 Alent P.L.C. 1,359,075 7,553,040 AZ Electronic Materials SA 786,307 3,612,267 British Polythene Industries P.L.C. 137,680 1,508,551 Carclo P.L.C. 200,519 1,208,321 * Centamin P.L.C. 4,259,698 3,428,925 Croda International P.L.C. 442,133 17,277,527 DS Smith P.L.C. 4,875,734 23,632,372 Elementis P.L.C. 2,357,537 9,786,488 Essentra PLC 895,518 11,259,255 * Evraz P.L.C. 54,653 103,292 Ferrexpo P.L.C. 955,423 2,774,349 * Gem Diamonds, Ltd. 470,255 1,200,709 Hill & Smith Holdings P.L.C. 427,877 3,296,635 Hochschild Mining P.L.C. 657,160 1,742,643 * International Ferro Metals, Ltd. 423,652 59,875 # Kazakhmys P.L.C. 206,718 869,727 * Lonmin P.L.C. 2,202,370 11,375,610 Low & Bonar P.L.C. 1,065,095 1,314,698 Marshalls P.L.C. 848,249 2,368,053 Mondi P.L.C. 691,204 12,342,094 # New World Resources P.L.C. Class A 133,089 191,202 * Petra Diamonds, Ltd. 1,141,429 2,038,805 # Petropavlovsk P.L.C. 708,130 908,741 RPC Group P.L.C. 746,324 6,105,456 Synthomer P.L.C. 1,165,169 4,543,104 # Vedanta Resources P.L.C. 480,809 8,191,998 Victrex P.L.C. 379,704 10,034,703 Zotefoams P.L.C. 96,852 280,924 ------------ Total Materials 150,179,912 ------------ Telecommunication Services -- (2.3%) Cable & Wireless Communications P.L.C. 6,118,769 4,590,487 * Colt Group SA 1,368,251 2,703,658 Inmarsat P.L.C. 2,097,288 24,206,344 Kcom Group P.L.C. 2,964,536 4,769,415 TalkTalk Telecom Group P.L.C. 2,542,439 10,883,485 ------------ Total Telecommunication Services 47,153,389 ------------ THE UNITED KINGDOM SMALL COMPANY SERIES CONTINUED Shares Value++ ----------- -------------- Utilities -- (2.4%) Dee Valley Group P.L.C. 12,109 $ 289,267 Drax Group P.L.C. 2,103,725 21,477,657 Pennon Group P.L.C. 1,980,713 21,629,062 Telecom Plus P.L.C. 197,486 4,879,975 -------------- Total Utilities 48,275,961 -------------- TOTAL COMMON STOCKS 1,978,538,145 -------------- PREFERRED STOCKS -- (0.0%) McBride P.L.C. 28,231,995 45,267 REA Holdings P.L.C., 9.000% 3,038 5,607 -------------- TOTAL PREFERRED STOCKS 50,874 -------------- Shares/ Face Amount (000) Value+ ----------- -------------- SECURITIES LENDING COLLATERAL -- (1.5%) (S)@ DFA Short Term Investment Fund 2,592,913 30,000,000 @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $735,534 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $665,157) to be repurchased at $652,117 $ 652 652,115 -------------- TOTAL SECURITIES LENDING COLLATERAL 30,652,115 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $1,356,132,190) $2,009,241,134 ============== THE CONTINENTAL SMALL COMPANY SERIES SCHEDULE OF INVESTMENTS October 31, 2013 Shares Value++ ------- ----------- COMMON STOCKS -- (86.7%) AUSTRIA -- (2.1%) * A-TEC Industries AG 21,828 $ -- Agrana Beteiligungs AG 17,354 2,115,960 AMAG Austria Metall AG 1,988 57,524 Atrium European Real Estate, Ltd. 614,001 3,666,994 Austria Technologie & Systemtechnik AG 71,774 684,159 BKS Bank AG 3,120 74,379 CA Immobilien Anlagen AG 163,483 2,486,113 Conwert Immobilien Invest SE 17,496 217,791 DO & Co. AG 14,838 710,662 # EVN AG 159,810 2,435,379 Flughafen Wien AG 47,263 3,646,075 Frauenthal Holding AG 4,212 52,695 # IMMOFINANZ AG 15,360 67,271 Josef Manner & Co. AG 870 67,555 # Kapsch TrafficCom AG 23,418 1,264,027 # Lenzing AG 51,434 3,836,909 Mayr Melnhof Karton AG 45,831 5,110,991 # Oberbank AG 37,973 2,475,436 # Oesterreichische Post AG 151,659 7,111,707 # Palfinger AG 57,325 2,115,643 POLYTEC Holding AG 82,397 793,148 RHI AG 113,647 4,193,671 Rosenbauer International AG 16,122 1,302,805 S IMMO AG 254,156 1,707,688 Schoeller-Bleckmann Oilfield Equipment AG 52,807 6,092,309 Semperit AG Holding 49,494 2,423,735 Strabag SE 102,680 2,698,947 Telekom Austria AG 560,193 4,605,230 UBM Realitaetenentwicklung AG 2,880 65,519 # UNIQA Insurance Group AG 361,548 4,420,079 # Wienerberger AG 533,293 9,250,481 #* Wolford AG 11,252 300,016 Zumtobel AG 145,385 2,594,422 ----------- TOTAL AUSTRIA 78,645,320 ----------- BELGIUM -- (2.6%) * Ablynx NV 129,167 1,267,548 Ackermans & van Haaren NV 118,073 12,787,617 * AGFA-Gevaert NV 898,617 2,134,031 Arseus NV 103,428 3,194,223 # Atenor Group 6,182 281,617 Banque Nationale de Belgique 968 3,795,454 Barco NV 60,150 4,552,962 Cie d'Entreprises CFE 41,428 3,273,640 Cie Immobiliere de Belgique SA 12,636 617,241 Cie Maritime Belge SA 66,098 1,759,371 Co.Br.Ha Societe Commerciale de Brasserie SA 115 271,344 D'ieteren SA 129,060 6,081,798 #* Deceuninck NV 364,236 864,772 # Econocom Group 265,744 2,582,049 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED Shares Value++ ------- ----------- BELGIUM -- (Continued) # Elia System Operator SA 135,158 $ 6,180,723 * Euronav NV 101,119 712,377 EVS Broadcast Equipment SA 60,843 3,980,449 Exmar NV 132,340 1,909,467 * Floridienne SA 1,751 163,898 #* Galapagos NV 110,191 2,129,801 Gimv NV 13,949 706,958 * Hamon & CIE SA 4,508 86,398 * Ion Beam Applications 89,062 734,919 Jensen-Group NV 13,482 198,393 Kinepolis Group NV 19,582 2,857,112 Lotus Bakeries 1,361 1,264,430 #* MDxHealth 44,100 177,219 Melexis NV 95,956 3,120,095 Mobistar SA 87,167 1,510,946 # NV Bekaert SA 190,167 7,962,830 # Nyrstar 742,718 3,047,399 #* Picanol 26,648 880,721 #* RealDolmen NV/SA(B3M0622) 7,587 177,956 * RealDolmen NV/SA(5529094) 120 20 Recticel SA 101,580 681,945 # Resilux 4,519 510,873 * RHJ International 54,210 283,500 * Roularta Media Group NV 10,263 164,719 Sapec 2,832 179,946 Sioen Industries NV 52,140 617,642 Sipef SA 30,617 2,323,907 TER Beke SA 2,260 174,145 # Tessenderlo Chemie NV 132,614 3,319,529 #* ThromboGenics NV 155,245 4,274,664 Van de Velde NV 35,750 1,817,094 ----------- TOTAL BELGIUM 95,613,742 ----------- DENMARK -- (4.1%) ALK-Abello A.S. 29,336 2,787,150 * Alm Brand A.S. 484,611 1,896,868 # Ambu A.S. Class B 27,380 1,232,373 Arkil Holding A.S. Class B 504 55,968 * Atlantic Petroleum P/F 4,328 114,022 * Auriga Industries Class B 96,829 3,799,916 #* Bang & Olufsen A.S. 161,993 1,564,648 BankNordik P/F 942 24,608 * Bavarian Nordic A.S. 105,508 1,282,962 * BoConcept Holding A.S. Class B 5,365 90,950 Brodrene Hartmann A.S. 13,977 352,551 D/S Norden A.S. 110,869 4,876,451 Dfds A.S. 18,568 1,351,825 Djurslands Bank A.S. 8,970 288,157 * East Asiatic Co., Ltd. A.S. 55,571 949,720 FE Bording A.S. 426 48,818 # FLSmidth & Co. A.S. 118,320 5,905,275 Fluegger A.S. Class B 4,198 282,792 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED Shares Value++ ------- ------------ DENMARK -- (Continued) * Genmab A.S. 186,552 $ 8,105,183 GN Store Nord A.S. 772,340 17,619,238 * GPV Industri A.S. Series B 2,200 -- #* Greentech Energy Systems A.S. 12,775 33,915 Gronlandsbanken AB 1,125 139,105 * H+H International A.S. Class B 21,395 120,762 Harboes Bryggeri A.S. Class B 12,252 171,102 IC Companys A.S. 35,278 955,751 * Incentive A.S. 3,575 -- Jeudan A.S. 4,800 506,162 * Jyske Bank A.S. 252,239 14,261,538 Lan & Spar Bank 5,150 277,129 Lastas A.S. Class B 5,633 4,871 NKT Holding A.S. 110,421 5,358,684 Nordjyske Bank A.S. 17,600 355,361 Norresundby Bank A.S. 7,350 287,055 Pandora A.S. 68,274 3,254,437 * Parken Sport & Entertainment A.S. 33,556 477,783 PER Aarsleff A.S. Class B 7,270 905,308 Ringkjoebing Landbobank A.S. 18,956 3,815,493 Roblon A.S. Class B 2,700 117,199 Rockwool International A.S. Class B 30,614 4,815,202 Royal UNIBREW A.S. 45,850 5,886,053 Schouw & Co. 74,017 2,760,428 SimCorp A.S. 194,860 6,379,377 Solar A.S. Class B 22,896 1,303,515 * Spar Nord Bank A.S. 330,513 2,952,658 * Sydbank A.S. 317,330 9,383,342 Tivoli A.S. 969 513,209 * TK Development A.S. 358,493 446,911 * Topdanmark A.S. 507,925 13,824,624 * TopoTarget A.S. 546,711 255,797 * Topsil Semiconductor Matls 262,172 40,548 #* Torm A.S. 543,877 168,951 # United International Enterprises 8,918 1,708,492 #* Vestas Wind Systems A.S. 693,291 18,578,010 * Vestjysk Bank A.S. 35,584 81,219 #* Zealand Pharma A.S. 32,819 369,210 ------------ TOTAL DENMARK 153,138,676 ------------ FINLAND -- (5.5%) Afarak Group Oyj 604,909 287,629 Ahlstrom Oyj 44,038 546,632 Aktia Bank Oyj 33,238 344,571 Alma Media Oyj 277,852 1,187,098 Amer Sports Oyj 550,929 11,303,591 Apetit Oyj 19,402 500,717 Aspo Oyj 83,192 606,893 Atria P.L.C. 34,948 386,649 Bank of Aland P.L.C. Class B 22,078 245,503 BasWare Oyj 34,550 1,004,295 * Biotie Therapies Oyj 955,389 452,746 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ----------- FINLAND -- (Continued) # Cargotec Oyj 158,389 $ 5,783,667 * Caverion Corp. 483,134 3,776,782 Citycon Oyj 1,334,997 4,759,049 #* Comptel Oyj 337,600 215,662 Cramo Oyj 148,755 2,974,137 Digia P.L.C. 48,912 264,782 * Efore Oyj 49,703 48,451 Elektrobit Corp. 79,135 151,745 # Elisa Oyj 663,319 16,618,626 eQ P.L.C. 29,413 97,704 # F-Secure Oyj 463,536 1,198,045 Finnair Oyj 407,001 1,553,515 * Finnlines Oyj 124,906 1,131,161 # Fiskars Oyj Abp 195,801 5,012,656 * GeoSentric Oyj 244,900 -- HKScan Oyj Class A 117,880 539,473 Huhtamaki Oyj 451,936 10,863,399 Ilkka-Yhtyma Oyj 61,503 255,195 Kemira Oyj 472,368 7,584,381 Kesko Oyj Class B 297,917 9,899,789 Konecranes Oyj 245,559 8,272,866 Lassila & Tikanoja Oyj 144,688 3,033,899 Lemminkainen Oyj 26,333 528,687 # Metsa Board Oyj 1,549,706 6,013,361 * Munksjo Oyj 10,815 69,084 # Neste Oil Oyj 596,102 11,819,716 Okmetic Oyj 59,222 431,189 Olvi Oyj Class A 67,692 2,439,674 Oriola-KD Oyj Class A 5,045 16,454 Oriola-KD Oyj Class B 491,691 1,594,559 Orion Oyj Class A 130,940 3,505,870 # Orion Oyj Class B 384,369 10,330,388 #* Outokumpu Oyj 4,209,557 2,337,769 # Outotec Oyj 697,608 6,898,704 PKC Group Oyj 87,713 2,860,680 Pohjola Bank P.L.C. Class A 150,090 2,733,244 Ponsse Oy 25,697 312,000 * Poyry Oyj 190,749 1,010,315 Raisio P.L.C. Class V 541,284 3,149,640 Ramirent Oyj 322,584 3,876,256 Rapala VMC Oyj 113,258 776,809 Rautaruukki Oyj 439,221 3,798,946 Revenio Group OYJ 1,070 16,809 Saga Furs Oyj 11,324 676,838 # Sanoma Oyj 349,325 3,030,830 Sievi Capital P.L.C. 123,479 177,873 SRV Group P.L.C. 9,181 51,409 Stockmann Oyj Abp(5462371) 43,914 732,875 # Stockmann Oyj Abp(5462393) 138,362 2,209,162 # Technopolis Oyj 323,578 2,195,957 Teleste Oyj 53,559 305,944 Tieto Oyj 302,101 6,637,073 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED Shares Value++ ---------- ------------ FINLAND -- (Continued) # Tikkurila Oyj 175,018 $ 4,537,597 # Uponor Oyj 244,992 4,839,065 Vacon P.L.C. 46,607 3,463,884 Vaisala Oyj Class A 40,712 994,923 * Viking Line Abp 10,366 254,481 YIT Oyj 500,865 6,496,796 ------------ TOTAL FINLAND 202,026,169 ------------ FRANCE -- (11.1%) ABC Arbitrage 22,399 153,066 #* Air France-KLM 722,730 7,537,473 Akka Technologies SA 8,290 248,546 Albioma 96,570 2,360,358 #* Alcatel-Lucent 12,082,064 46,287,055 Ales Groupe 669 12,038 Altamir 81,618 1,112,985 Alten SA 92,635 4,188,616 Altran Technologies SA 676,432 5,994,823 April 76,998 1,637,022 #* Archos 16,779 81,575 Assystem 65,144 1,773,312 * Atari SA 68,443 -- Aubay 10,285 96,020 #* Audika Groupe 22,298 299,723 Aurea SA 2,794 16,115 Axway Software SA 27,272 818,676 #* Beneteau SA 184,191 3,372,856 #* Bigben Interactive 20,361 203,933 BioMerieux 22,777 2,286,176 Boiron SA 29,446 1,992,271 Bonduelle SCA 77,754 1,940,140 Bongrain SA 34,266 2,506,101 # Bourbon SA 216,060 6,157,684 * Boursorama 92,227 925,456 * Bull 402,126 1,775,662 Burelle SA 3,866 3,071,043 * Cegedim SA 19,533 516,053 Cegid Group 22,946 669,927 * CGG 455,425 10,010,199 #* Chargeurs SA 41,322 305,958 # Cie des Alpes 17,687 359,683 Cie Industrielle et Financiere D'Entreprises 1,200 93,544 Ciments Francais SA 47,966 3,435,368 * Club Mediterranee SA 107,104 2,526,940 * Derichebourg SA 548,515 1,916,934 # Devoteam SA 27,431 487,859 Eiffage SA 169,719 10,058,094 # Electricite de Strasbourg 21,886 3,013,505 Eramet 8,545 811,443 Esso SA Francaise 11,770 757,510 Etablissements Maurel et Prom 419,398 6,752,241 Euler Hermes SA 52,633 6,948,846 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ----------- FRANCE -- (Continued) * Euro Disney SCA 36,268 $ 236,633 Eurofins Scientific 20,557 5,627,625 Exel Industries Class A 10,680 577,598 Faiveley Transport SA 35,342 2,758,260 #* Faurecia 216,138 6,299,094 # Fimalac 31,490 1,954,830 Fleury Michon SA 4,694 295,164 * GameLoft SE 132,025 1,400,660 Gaumont SA 13,980 681,464 # GEA 2,218 242,973 #* GECI International 59,392 -- Gevelot SA 3,584 338,318 # GL Events 48,302 1,043,319 Groupe Crit 24,255 1,029,979 Groupe Eurotunnel SA 799,822 7,742,988 # Groupe Flo 35,997 158,389 * Groupe Fnac 9,578 267,673 Groupe Open 27,590 262,307 Groupe Steria SCA 135,577 2,505,113 Guerbet 6,577 893,094 * Haulotte Group SA 65,672 800,421 Havas SA 1,237,953 10,294,089 * Hi-Media SA 134,290 342,522 # Ingenico 98,460 7,396,171 Interparfums SA 29,888 1,177,028 Ipsen SA 62,390 2,732,834 IPSOS 159,746 6,724,375 Jacquet Metal Service 55,520 932,839 Korian 14,713 459,595 L.D.C. SA 19 3,059 Lagardere SCA 427,942 15,546,813 Lanson-BCC 7,992 351,026 Laurent-Perrier 12,675 1,183,994 * Le Noble Age 542 9,999 # Lectra 94,714 897,934 LISI 17,353 2,678,288 Maisons France Confort 15,380 567,140 # Manitou BF SA 48,911 921,279 Manutan International 14,553 888,460 Medica SA 183,725 4,721,182 Mersen 72,883 2,666,059 Metropole Television SA 236,930 5,450,202 # MGI Coutier 2,979 365,327 Montupet 30,887 1,160,271 * Mr Bricolage 30,731 421,507 Naturex 24,725 1,951,761 # Neopost SA 167,752 12,665,437 # Nexans SA 131,823 5,860,986 Nexity SA 110,520 4,327,357 NextRadioTV 10,035 231,188 * NicOx SA 3,470 11,639 Norbert Dentressangle SA 20,989 2,380,713 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ----------- FRANCE -- (Continued) #* NRJ Group 72,524 $ 698,890 #* Orco Property Group 161,646 487,261 Orpea 128,403 6,925,626 * Osiatis SA 26,496 371,621 Paris Orleans SA 456 11,249 * Parrot SA 38,572 1,074,946 #* Peugeot SA 1,076,690 14,163,830 #* Pierre & Vacances SA 22,855 613,790 Plastic Omnium SA 324,906 9,282,252 PSB Industries SA 8,438 343,494 Rallye SA 106,948 4,551,274 #* Recylex SA 83,164 374,345 Robertet SA 3,167 773,515 Rubis SCA 157,540 9,834,840 Sa des Ciments Vicat 55,830 4,171,586 Saft Groupe SA 126,335 4,006,089 Samse SA 8,342 826,191 Sartorius Stedim Biotech 7,017 1,055,081 SEB SA 37,211 3,338,805 Seche Environnement SA 9,167 367,250 Securidev SA 2,500 118,755 #* Sequana SA 44,019 364,532 Soc Mar Tunnel Prado Car 2,292 90,016 Societe d'Edition de Canal + 272,836 2,249,664 Societe des Bains de Mer et du Cercle des Etrangers a Monaco 46,150 2,521,071 Societe Internationale de Plantations d'Heveas SA 7,778 583,150 Societe pour l'Informatique Industrielle 40,908 342,468 Societe Television Francaise 1 567,362 10,931,881 #* SOITEC 826,614 1,868,377 #* Solocal Group 630,719 1,469,308 # Somfy SA 21,738 5,417,923 Sopra Group SA 23,140 2,022,650 #* Spir Communication 4,687 95,684 #* Ste Industrielle d'Aviation Latecoere SA 30,831 553,995 Stef 29,121 1,957,598 * Store Electronic 8,638 155,360 Sword Group 30,562 644,021 # Synergie SA 60,624 1,094,033 * Technicolor SA 382,853 2,065,847 Teleperformance 275,593 14,588,498 Tessi SA 7,038 961,549 #* Theolia SA 281,335 527,135 Thermador Groupe 8,185 732,036 Tonnellerie Francois Freres 5,013 413,443 Total Gabon 1,307 838,668 Touax SA 4,773 127,817 * Trigano SA 38,518 817,524 * UBISOFT Entertainment 459,542 5,894,831 Union Financiere de France BQE SA 16,679 399,179 Valeo SA 17,099 1,691,591 * Valneva SE 114,605 745,138 # Vetoquinol SA 7,362 292,984 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED Shares Value++ ------- ------------ FRANCE -- (Continued) Viel et Co. 158,130 $ 521,798 # Vilmorin & Cie 22,432 2,646,310 Virbac SA 17,539 3,527,980 #* Vivalis SA 18,706 121,645 * VM Materiaux SA 6,914 263,406 # Vranken-Pommery Monopole SA 18,881 610,942 ------------ TOTAL FRANCE 409,490,547 ------------ GERMANY -- (12.5%) * Aareal Bank AG 423,110 16,227,581 Adler Modemaerkte AG 29,862 385,080 * ADVA Optical Networking SE 189,709 1,012,667 #* Air Berlin P.L.C. 105,821 243,765 #* Aixtron SE NA 409,853 5,882,335 * Aligna AG 318,087 -- Allgeier SE 24,659 519,126 Amadeus Fire AG 20,030 1,318,287 Analytik Jena AG 2,238 44,862 * AS Creation Tapeten 7,109 371,907 #* Asian Bamboo AG 8,245 26,678 Aurubis AG 153,470 9,669,371 # Balda AG 127,634 791,945 Basler AG 356 14,472 Bauer AG 45,945 1,126,829 # BayWa AG(5838057) 57,667 2,936,810 BayWa AG(5838068) 124 6,689 Bechtle AG 71,274 4,570,675 Bertrandt AG 23,001 3,008,221 Bijou Brigitte AG 18,449 1,944,101 Bilfinger SE 290 32,181 Biotest AG 20,784 1,718,568 * BKN International AG 33,408 136 Borussia Dortmund GmbH & Co. KGaA 264,935 1,368,226 CANCOM SE 50,978 1,954,906 Carl Zeiss Meditec AG 94,585 2,987,723 CAT Oil AG 73,663 1,797,482 # Celesio AG 406,712 12,644,638 CENIT AG 35,810 502,413 CENTROTEC Sustainable AG 43,285 1,076,175 Cewe Stiftung & Co. KGAA 22,058 1,233,382 * Colonia Real Estate AG 16,334 106,869 Comdirect Bank AG 179,407 2,039,025 # CompuGroup Medical AG 58,460 1,522,795 * Constantin Medien AG 351,622 786,484 CropEnergies AG 99,798 933,648 CTS Eventim AG 106,100 5,172,631 DAB Bank AG 130,043 654,563 Data Modul AG 11,455 249,118 # Delticom AG 25,992 1,370,749 * Deufol SE 76,487 140,244 # Deutsche Beteiligungs AG 29,148 765,221 # Deutsche Wohnen AG 816,056 15,347,428 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ----------- GERMANY -- (Continued) * Deutz AG 440,031 $ 4,173,646 #* Dialog Semiconductor P.L.C. 289,462 5,561,639 DIC Asset AG 13,115 144,820 DMG MORI SEIKI AG 285,594 9,387,901 Dr Hoenle AG 21,610 358,803 Draegerwerk AG & Co. KGaA 6,123 605,991 Drillisch AG 228,312 5,883,752 Duerr AG 107,838 9,437,841 DVB Bank SE 21,139 696,575 Eckert & Ziegler AG 17,884 727,473 Elmos Semiconductor AG 47,055 618,109 ElringKlinger AG 140,315 5,966,083 Erlus AG 2,970 175,750 # Euromicron AG 30,517 723,285 #* Evotec AG 1,165,338 6,817,126 Fielmann AG 32,673 3,653,891 #* First Sensor AG 19,888 200,996 #* Francotyp-Postalia Holding AG Class A 40,875 234,788 Freenet AG 489,959 12,726,578 Fuchs Petrolub AG 99,499 6,764,192 * GAGFAH SA 281,532 3,990,666 GBW AG 21,076 642,217 Gerresheimer AG 149,928 9,917,553 # Gerry Weber International AG 89,543 3,710,494 Gesco AG 14,980 1,523,605 GFK SE 72,318 4,228,902 GFT Technologies AG 74,544 611,613 #* Gigaset AG 123,765 170,239 Grammer AG 56,930 2,648,931 Grenkeleasing AG 32,703 3,235,259 * GSW Immobilien AG 198,352 9,223,946 * H&R AG 50,783 614,717 Hamburger Hafen und Logistik AG 78,568 1,971,648 #* Hansa Group AG 146,815 292,366 # Hawesko Holding AG 19,480 1,004,562 #* Heidelberger Druckmaschinen AG 1,093,379 2,923,006 # Highlight Communications AG 98,062 503,293 Homag Group AG 25,484 615,171 Hornbach Baumarkt AG 131 4,708 Indus Holding AG 105,351 3,785,696 Init Innovation In Traffic Systems AG 6,404 202,798 * Intershop Communications AG 62,598 123,868 Isra Vision AG 15,060 722,179 * IVG Immobilien AG 278,810 26,678 Jenoptik AG 214,467 3,746,697 * Joyou AG 12,175 231,150 # K+S AG 46,883 1,191,278 * Kampa AG 7,101 424 * Kloeckner & Co. SE 486,189 6,857,914 Koenig & Bauer AG 23,909 456,252 Kontron AG 236,302 1,616,288 # Krones AG 72,618 6,356,042 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED Shares Value++ ------- ----------- GERMANY -- (Continued) KSB AG 3,584 $ 2,348,139 # KUKA AG 130,343 5,932,144 KWS Saat AG 16,490 5,888,712 Leifheit AG 12,500 509,915 Leoni AG 158,380 10,719,775 LPKF Laser & Electronics AG 94,752 1,973,840 #* Manz AG 10,384 749,532 * MasterFlex SE 19,347 177,058 * Maxdata Computer AG 94,120 -- * Mediclin AG 119,554 701,647 #* Medigene AG 23,760 123,176 MLP AG 216,957 1,353,725 # Mobotix AG 13,494 289,543 * Morphosys AG 70,908 5,484,915 MTU Aero Engines AG 10,103 1,007,586 # Muehlbauer Holding AG & Co. KGaA 14,905 394,958 # MVV Energie AG 114,055 3,773,278 Nemetschek AG 24,668 1,628,106 Nexus AG 42,453 593,751 * Nordex SE 279,193 4,893,315 Norma Group SE 143,509 7,176,918 OHB AG 35,659 848,707 * Osram Licht AG 24,717 1,280,160 P&I Personal & Informatik AG 17,863 1,137,823 * Patrizia Immobilien AG 160,052 1,499,116 Pfeiffer Vacuum Technology AG 42,721 4,974,498 PNE Wind AG 250,637 991,964 * Powerland AG 4,118 18,544 Progress-Werk Oberkirch AG 7,812 444,557 # PSI AG Gesellschaft Fuer Produkte und Systeme der Informationstechnologie 28,155 468,626 Pulsion Medical Systems SE 6,063 127,454 # Puma SE 4,958 1,474,982 # PVA TePla AG 46,019 183,516 QSC AG 467,082 2,905,286 R Stahl AG 14,410 697,540 Rational AG 7,789 2,385,154 Rheinmetall AG 189,044 11,687,366 Rhoen Klinikum AG 500,406 13,984,605 RIB Software AG 85,906 765,450 * SAF-Holland SA 216,230 3,073,905 Salzgitter AG 169,702 7,468,475 Schaltbau Holding AG 14,476 800,807 Sektkellerei Schloss Wachenheim AG 7,479 103,897 * SER Systems AG 9,400 -- # SGL Carbon SE 229,387 8,945,413 # SHW AG 12,018 737,939 #* Singulus Technologies AG 236,814 579,472 Sinner AG 1,159 21,847 Sixt SE 81,198 2,446,807 SKW Stahl-Metallurgie Holding AG 25,308 411,690 # SMA Solar Technology AG 46,478 1,894,608 SMT Scharf AG 17,833 577,618 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ------------ GERMANY -- (Continued) Softing AG 5,794 $ 109,688 Software AG 286,671 10,614,691 #* Solarworld AG 336,956 359,361 Stada Arzneimittel AG 287,980 16,553,592 STINAG Stuttgart Invest AG 1,594 34,650 * Stroeer Media AG 99,453 1,718,223 #* Suss Microtec AG 92,598 981,956 # Symrise AG 155,836 6,597,986 Syzygy AG 30,656 184,543 # TAG Immobilien AG 455,809 5,505,921 Takkt AG 126,507 2,512,030 # Technotrans 29,535 313,404 # Telegate AG 23,076 200,551 * Tipp24 SE 26,748 1,739,659 #* Tom Tailor Holding AG 83,114 1,894,371 # Tomorrow Focus AG 113,715 683,038 #* TUI AG 673,397 8,921,347 UMS United Medical Systems International AG 3,304 42,962 * VBH Holding AG 9,415 33,431 * Verbio AG 796 1,143 # Vossloh AG 37,975 3,917,166 VTG AG 47,714 995,138 # Wacker Chemie AG 12,207 1,146,335 # Wacker Neuson SE 83,600 1,284,164 Washtec AG 5,625 80,256 Wincor Nixdorf AG 141,991 9,388,197 Wirecard AG 112,653 4,098,692 XING AG 11,101 1,119,472 ------------ TOTAL GERMANY 462,205,231 ------------ GREECE -- (2.0%) * Aegean Airlines SA 5,746 49,678 * Alfa Alfa Energy S.A. 3,810 -- * Alpha Bank AE 514,289 460,665 * Alysida S.A. 2,376 -- * Astir Palace Hotel SA 93,886 508,925 Athens Water Supply & Sewage Co. SA (The) 116,677 1,316,587 * Atlantic Supermarkets SA 34,730 -- * Autohellas SA 19,769 230,513 * Babis Vovos International Construction SA 21,073 -- * Balafas S.A. 15,200 -- * Bank of Cyprus P.L.C. 4,342,301 -- Bank of Greece 133,571 2,904,446 * Daios Plastics SA 15,442 73,024 * Diagnostic & Therapeutic Center of Athens Hygeia SA 85,353 53,500 * Elektroniki Athinon SA 7,497 4,886 * Ellaktor SA 544,614 2,366,812 * Elval - Hellenic Aluminium Industry SA 28,590 76,962 * Etma Rayon SA 11,242 -- * Euromedica SA 14,719 7,541 * Folli Follie SA 150,049 4,456,755 * Fourlis Holdings SA 146,787 695,489 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ----------- GREECE -- (Continued) * Frigoglass SA 115,348 $ 922,748 * GEK Terna Holding Real Estate Construction SA 296,155 1,260,846 * Halcor SA 142,942 167,431 Hellenic Exchanges SA Holding Clearing Settlement and Registry 296,505 3,116,581 Hellenic Petroleum SA 326,121 4,240,579 * Hellenic Telecommunications Organization SA 707,121 8,899,410 * Iaso SA 206,042 360,416 * Informatics S.A. 3,778 -- * Intracom Holdings SA 247,375 191,631 Intralot SA-Integrated Lottery Systems & Services 551,157 1,454,909 * Ipirotiki Software & Publications S.A. 22,110 -- * JUMBO SA 400,965 5,379,989 * Lamda Development SA 905 5,993 * Lan-Net S.A. 12,688 -- * Marfin Investment Group Holdings SA 2,380,237 1,517,556 Metka SA 101,638 1,908,288 Motor Oil Hellas Corinth Refineries SA 246,966 2,936,001 * Mytilineos Holdings SA 367,558 2,967,993 * National Bank of Greece SA 511,687 2,906,298 * Neorion Holdings SA 14,991 2,544 OPAP SA 168,712 2,095,011 * Piraeus Bank SA 235,090 490,746 Piraeus Port Authority 21,267 516,688 * Promota Hellas S.A. 8,860 -- * Proton Bank SA 141,214 -- Public Power Corp. SA 528,487 7,854,210 * Sarantis SA 74,884 595,392 * Sidenor Steel Products Manufacturing Co. SA 79,509 184,080 * T Bank SA 228,007 -- Terna Energy SA 150,484 744,097 * Themeliodomi S.A. 37,422 -- Thessaloniki Port Authority SA 6,936 235,232 Thessaloniki Water Supply & Sewage Co. SA 15,807 126,795 Thrace Plastics Co. SA 33,856 63,989 * Titan Cement Co. SA 203,501 5,535,370 * TT Hellenic Postbank SA 695,353 -- * Viohalco Hellenic Copper and Aluminum Industry SA 603,593 5,974,777 ----------- TOTAL GREECE 75,861,383 ----------- IRELAND -- (1.9%) Aer Lingus Group P.L.C. 752,359 1,429,367 * Aminex P.L.C. 496,086 18,523 C&C Group P.L.C.(B010DT8) 399,607 2,330,067 C&C Group P.L.C.(B011Y09) 1,014,594 5,939,754 Dragon Oil P.L.C. 953,523 8,982,244 FBD Holdings P.L.C. 125,728 2,651,574 Glanbia P.L.C.(4058629) 56,545 791,500 Glanbia P.L.C.(0066950) 700,613 9,858,118 IFG Group P.L.C. 271,865 515,586 Irish Continental Group P.L.C.(3333651) 23,420 810,205 Irish Continental Group P.L.C.(3339455) 14,903 522,907 * Kenmare Resources P.L.C. 4,546,361 1,466,217 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED Shares Value++ ------- ----------- IRELAND -- (Continued) Kingspan Group P.L.C. 511,601 $ 8,555,934 Paddy Power P.L.C.(0258810) 175,221 14,181,124 Paddy Power P.L.C.(4828974) 6,799 553,844 Smurfit Kappa Group P.L.C. 554,973 13,433,965 ----------- TOTAL IRELAND 72,040,929 ----------- ISRAEL -- (2.3%) #* Africa Israel Investments, Ltd. 410,076 690,332 * Africa Israel Properties, Ltd. 57,169 890,335 Africa Israel Residences, Ltd. 594 8,795 * Airport City, Ltd. 142,471 1,231,589 * AL-ROV Israel, Ltd. 16,940 562,129 * Albaad Massuot Yitzhak, Ltd. 370 6,983 * Allot Communications, Ltd. 34,073 453,667 #* Alon Blue Square Israel, Ltd. 58,561 230,961 * Alrov Properties and Lodgings, Ltd. 10,610 308,159 Amot Investments, Ltd. 248,365 711,474 * AudioCodes, Ltd. 159,083 956,842 Avgol Industries 1953, Ltd. 420,938 378,382 #* Azorim-Investment Development & Construction Co., Ltd. 380,820 409,970 # Babylon, Ltd. 134,822 288,292 Bayside Land Corp. 2,689 695,037 Big Shopping Centers 2004, Ltd. 5,139 184,540 * Biocell, Ltd. 15,003 83,483 * BioLine RX, Ltd. 596,298 151,737 Blue Square Real Estate, Ltd. 3,962 145,867 * Cellcom Israel, Ltd. 167,563 1,951,076 * Ceragon Networks, Ltd. 77,319 268,292 #* Clal Biotechnology Industries, Ltd. 174,162 378,037 Clal Industries, Ltd. 305,278 1,360,590 Clal Insurance Enterprises Holdings, Ltd. 88,615 1,736,652 * Cohen Development & Industrial Buildings, Ltd. 944 27,949 * Compugen, Ltd. 69,314 687,324 Delek Automotive Systems, Ltd. 145,079 1,608,587 Delta-Galil Industries, Ltd. 47,407 1,118,336 Direct Insurance Financial Investments, Ltd. 39,020 216,805 * El Al Israel Airlines 77,144 12,666 Elbit Systems, Ltd. 94,354 5,035,768 Electra, Ltd. 7,074 891,490 * Elron Electronic Industries, Ltd. 60,778 445,371 * Equital, Ltd. 2,543 40,330 * Evogene, Ltd. 119,806 974,772 #* EZchip Semiconductor, Ltd. 106,730 2,811,214 # First International Bank Of Israel, Ltd. 98,118 1,610,010 FMS Enterprises Migun, Ltd. 10,227 120,171 Formula Systems 1985, Ltd. 36,549 949,080 Fox Wizel, Ltd. 6,519 152,715 # Frutarom Industries, Ltd. 174,875 3,133,218 * Gilat Satellite Networks, Ltd. 100,149 511,213 * Given Imaging, Ltd. 57,544 1,156,325 Golf & Co., Ltd. 74,605 260,493 * Hadera Paper, Ltd. 10,176 597,768 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ----------- ISRAEL -- (Continued) Harel Insurance Investments & Financial Services, Ltd. 469,890 $ 2,755,316 # Industrial Buildings Corp. 347,656 627,476 #* Israel Discount Bank, Ltd. Class A 3,446,930 6,878,535 Israel Land Development Co., Ltd. (The) 22,310 92,085 Ituran Location and Control, Ltd. 84,441 1,544,721 #* Jerusalem Oil Exploration 39,274 1,450,410 #* Kamada, Ltd. 119,349 1,722,525 Kerur Holdings, Ltd. 2,133 37,122 Maabarot Products, Ltd. 21,999 243,827 Magic Software Enterprises, Ltd. 51,716 325,478 Matrix IT, Ltd. 182,457 959,919 Maytronics, Ltd. 6,672 12,040 #* Mazor Robotics, Ltd. 102,179 896,098 Meitav DS Investments, Ltd. 38,130 137,755 Melisron, Ltd. 52,829 1,398,304 Menorah Mivtachim Holdings, Ltd. 114,147 1,313,903 Migdal Insurance & Financial Holding, Ltd. 1,213,664 2,118,665 Mivtach Shamir 22,367 821,986 * Naphtha Israel Petroleum Corp., Ltd. 152,895 984,865 * Neto ME Holdings, Ltd. 5,411 287,823 #* Nitsba Holdings 1995, Ltd. 129,055 1,807,264 * Nova Measuring Instruments, Ltd. 72,188 633,960 #* Oil Refineries, Ltd. 3,757,899 1,214,646 * Ormat Industries 293,852 1,986,577 Osem Investments, Ltd. 92,442 2,039,216 * Partner Communications Co., Ltd. 372,802 3,061,149 * Paz Oil Co., Ltd. 20,326 3,155,156 * Perion Network, Ltd. 16,455 180,505 Phoenix Holdings, Ltd. (The) 234,055 920,110 Plasson Industries, Ltd. 12,320 408,041 # Rami Levi Chain Stores Hashikma Marketing 2006, Ltd. 33,735 1,825,457 Shikun & Binui, Ltd. 920,014 2,201,123 Shufersal, Ltd. 381,641 1,539,831 * Space Communication, Ltd. 17,611 214,285 Strauss Group, Ltd. 162,151 2,859,400 #* Tower Semiconductor, Ltd. 96,366 469,484 * Union Bank of Israel 130,630 585,712 ----------- TOTAL ISRAEL 86,155,595 ----------- ITALY -- (8.1%) # A2A SpA 4,407,721 4,959,410 ACEA SpA 280,731 2,921,027 #* Acotel Group SpA 3,478 108,622 Aeroporto di Firenze SpA 17,390 233,180 Aeroporto di Venezia Marco Polo SpA - SAVE 74,278 1,346,438 Alerion Cleanpower SpA 92,062 447,813 Amplifon SpA 350,657 1,869,426 Ansaldo STS SpA 481,426 5,108,589 * Arnoldo Mondadori Editore SpA 521,400 1,112,242 Ascopiave SpA 194,134 424,414 Astaldi SpA 258,925 2,522,349 * Autogrill SpA 492,715 4,422,983 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED Shares Value++ ---------- ----------- ITALY -- (Continued) Azimut Holding SpA 491,069 $12,457,026 #* Banca Carige SpA 3,160,296 2,526,853 # Banca Finnat Euramerica SpA 637,043 266,539 Banca Generali SpA 202,487 5,285,984 Banca IFIS SpA 102,347 1,536,269 #* Banca Monte dei Paschi di Siena SpA 8,733,630 2,753,505 * Banca Piccolo Credito Valtellinese Scarl 1,928,748 3,451,521 * Banca Popolare dell'Emilia Romagna S.c.r.l. 1,449,109 13,922,026 #* Banca Popolare dell'Etruria e del Lazio 261,735 244,171 #* Banca Popolare di Milano Scarl 13,321,904 8,899,056 Banca Popolare di Sondrio Scarl 1,200,453 6,909,509 Banca Profilo SpA 964,900 322,391 Banco di Desio e della Brianza SpA 232,296 729,293 * Banco Popolare 6,663,294 13,237,221 * BasicNet SpA 105,627 275,429 * Beghelli SpA 403,187 198,236 * Biesse SpA 54,004 312,543 Brembo SpA 162,145 4,288,463 * Brioschi Sviluppo Immobiliare SpA 174,780 20,744 # Brunello Cucinelli SpA 61,102 1,904,406 # Buzzi Unicem SpA 320,417 5,547,509 Cairo Communication SpA 113,404 793,811 * Caltagirone Editore SpA 6,277 10,187 Caltagirone SpA 210,067 499,536 * Carraro SpA 113,633 440,728 Cembre SpA 40,330 427,211 Cementir Holding SpA 336,239 1,547,663 * CIR-Compagnie Industriali Riunite SpA 1,837,842 3,057,022 Credito Bergamasco SpA 129,374 2,489,967 Credito Emiliano SpA 376,390 2,845,528 * d'Amico International Shipping SA 491,250 424,699 # Danieli & C Officine Meccaniche SpA 58,967 1,812,501 Datalogic SpA 65,558 711,833 Davide Campari-Milano SpA 188,852 1,645,835 De'Longhi SpA 275,556 4,255,366 * DeA Capital SpA 241,155 458,424 * Delclima 238,104 331,933 # DiaSorin SpA 89,009 4,212,552 # Ei Towers SpA 39,294 1,642,694 Engineering SpA 20,358 1,108,748 ERG SpA 242,145 2,957,074 Esprinet SpA 124,948 908,289 * Eurotech SpA 122,818 316,208 * Falck Renewables SpA 518,528 883,006 * Fiera Milano SpA 31,596 228,853 #* Finmeccanica SpA 1,838,316 13,471,206 #* Fondiaria-Sai SpA 1,930,203 4,945,313 Gas Plus 14,596 93,498 * Gefran SpA 6,645 28,851 * Gemina SpA 2,562,430 6,216,913 # Geox SpA 343,770 941,338 * Gruppo Editoriale L'Espresso SpA 670,242 1,335,526 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ----------- ITALY -- (Continued) Gruppo MutuiOnline SpA 51,809 $ 288,447 Gtech Spa 185,318 5,627,922 # Hera SpA 2,829,591 5,700,920 * IMMSI SpA 743,533 459,064 Impregilo SpA 29,916 190,447 Indesit Co. SpA 185,473 1,915,464 Industria Macchine Automatiche SpA 58,626 2,008,954 #* Intek Group SpA 1,654,192 713,844 Interpump Group SpA 317,190 3,527,458 Irce SpA 10,392 23,843 Iren SpA 2,070,565 3,095,866 # Italcementi SpA 308,441 2,743,117 * Italmobiliare SpA 46,873 1,528,428 #* Juventus Football Club SpA 1,587,772 516,201 #* Landi Renzo SpA 203,171 342,439 MARR SpA 157,876 2,482,466 * Mediaset SpA 3,041,414 15,187,868 Mediolanum SpA 294,936 2,566,650 #* Milano Assicurazioni SpA 2,324,306 1,982,928 * Molecular Medicine SpA 109,512 117,710 Nice SpA 41,141 163,595 * Pagnossin SpA 9,000 -- # Piaggio & C SpA 736,724 2,125,992 * Pininfarina SpA 60,985 269,749 #* Poltrona Frau SpA 238,473 784,541 #* Prelios SpA 238,990 203,442 * Premafin Finanziaria SpA 916,383 208,482 * Prima Industrie SpA 1,958 26,143 Prysmian SpA 233,881 5,713,051 #* RCS MediaGroup SpA 103,476 227,687 Recordati SpA 408,182 5,361,675 Reply SpA 18,077 1,176,924 #* Retelit SpA 410,894 309,208 Richard-Ginori 1735 SpA 8,489 805 Sabaf SpA 24,109 434,249 SAES Getters SpA 30,068 291,962 * Safilo Group SpA 149,871 3,063,946 #* Saras SpA 946,607 1,171,650 * Snai SpA 95,483 131,468 Societa Cattolica di Assicurazioni S.c.r.l. 197,763 5,006,830 # Societa Iniziative Autostradali e Servizi SpA 244,650 2,563,009 Societa per la Bonifica dei Terreni Ferraresi e Imprese Agricole SpA 10,867 521,065 Sogefi SpA 220,168 1,252,089 SOL SpA 166,511 1,257,674 * Sorin SpA 1,208,532 3,329,494 Tamburi Investment Partners SpA 37,478 115,463 #* Tiscali SpA 3,467,783 206,307 Tod's SpA 11,806 1,964,649 Trevi Finanziaria Industriale SpA 154,707 1,422,415 TXT e-solutions SpA 2,695 57,932 * Uni Land SpA 51,835 -- Unione di Banche Italiane SCPA 2,765,965 19,116,785 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ------------ ITALY -- (Continued) Unipol Gruppo Finanziario SpA 970,174 $ 5,144,206 Vianini Industria SpA 35,758 60,313 Vianini Lavori SpA 175,180 1,008,548 Vittoria Assicurazioni SpA 121,346 1,442,103 * World Duty Free SpA 492,715 5,458,905 * Yoox SpA 176,495 6,349,280 Zignago Vetro SpA 132,100 848,000 ------------ TOTAL ITALY 301,417,172 ------------ NETHERLANDS -- (5.0%) Aalberts Industries NV 480,099 14,334,222 # Accell Group 104,121 2,125,810 * AFC Ajax NV 18,134 191,232 * AMG Advanced Metallurgical Group NV 160,659 1,793,461 # Amsterdam Commodities NV 80,355 1,790,320 # APERAM 262,538 4,485,350 # Arcadis NV 294,666 9,240,797 ASM International NV 237,793 7,810,682 * Atag Group NV 4,630 -- * Ballast Nedam 2,824 43,594 # BE Semiconductor Industries NV 164,367 1,786,081 Beter Bed Holding NV 89,519 2,019,629 BinckBank NV 319,629 3,075,107 # Brunel International NV 53,003 3,111,275 Corbion NV 382,663 8,865,414 * Crown Van Gelder 9,818 49,996 Delta Lloyd NV 943,521 20,004,182 # DOCdata NV 22,463 454,588 # Exact Holding NV 64,831 1,713,203 * Grontmij 295,566 1,501,128 # Heijmans NV 100,443 1,332,353 Hunter Douglas NV 8,819 380,772 #* Kardan NV 24,655 12,454 KAS Bank NV 66,668 900,031 Kendrion NV 44,866 1,407,035 # Koninklijke BAM Groep NV 1,376,686 7,321,878 Koninklijke Ten Cate NV 147,968 4,492,591 Koninklijke Wessanen NV 405,178 1,515,738 # Macintosh Retail Group NV 53,398 586,698 Nederland Apparatenfabriek 28,810 1,138,198 Nutreco NV 359,256 17,562,430 #* Ordina NV 383,600 669,508 #* PostNL NV 2,402,055 12,551,522 * Roto Smeets Group NV 5,166 42,163 #* Royal Imtech NV 349,305 1,027,880 * SBM Offshore NV 948,481 19,852,164 Sligro Food Group NV 105,146 3,938,030 #* SNS REAAL NV 705,718 -- Telegraaf Media Groep NV 175,800 2,293,278 TKH Group NV 184,381 5,890,346 #* TomTom NV 562,433 4,342,710 Unit4 NV 143,180 6,736,231 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ------------ NETHERLANDS -- (Continued) USG People NV 389,997 $ 5,155,420 * Van Lanschot NV 4,807 118,756 ------------ TOTAL NETHERLANDS 183,664,257 ------------ NORWAY -- (3.1%) ABG Sundal Collier Holding ASA 1,226,782 957,888 # AF Gruppen ASA 2,718 30,301 * Agasti Holding ASA 227,087 65,327 Aker ASA Class A 1,221 38,479 * Algeta ASA 148,632 5,889,879 #* American Shipping ASA 53,707 304,540 * Archer, Ltd. 918,943 835,292 Arendals Fossekompani A.S. 90 24,304 Atea ASA 305,277 3,382,737 Austevoll Seafood ASA 364,953 2,265,902 Bakkafrost P/F 102,768 1,443,899 #* Bionor Pharma ASA 529,166 249,826 Bonheur ASA 68,100 1,556,689 BW Offshore, Ltd. 1,547,023 2,117,224 * BWG Homes ASA 346,255 643,419 Cermaq ASA 285,677 5,062,800 * Deep Sea Supply PLC 373,810 705,951 #* Det Norske Oljeselskap ASA 224,182 3,190,097 * DNO International ASA 3,792,519 10,717,444 * DOF ASA 200,349 939,496 * Dolphin Group A.S. 148,224 119,449 # Ekornes ASA 112,551 1,830,807 #* Electromagnetic GeoServices A.S. 566,149 653,550 # Eltek ASA 1,292,456 1,521,188 Evry ASA 267,383 434,974 Farstad Shipping ASA 65,666 1,491,043 #* Frontline, Ltd. 239,174 508,270 # Ganger Rolf ASA 58,809 1,319,954 Golden Ocean Group Ltd. 1,246,862 1,878,901 * Grieg Seafood ASA 154,146 481,894 * Havila Shipping ASA 22,400 131,128 # Hexagon Composites ASA 187,185 581,614 * Hoegh LNG Holdings Ltd 118,259 910,133 #* Hurtigruten ASA 759,030 289,881 * InterOil Exploration and Production ASA 522,356 195,506 * Kongsberg Automotive Holding ASA 1,834,792 1,415,339 # Kongsberg Gruppen A.S. 673 14,026 # Kvaerner ASA 807,447 1,315,410 # Leroey Seafood Group ASA 83,018 2,565,397 #* Nordic Semiconductor ASA 580,280 2,459,085 #* Norske Skogindustrier ASA 660,997 360,949 Northern Offshore, Ltd. 350,656 546,116 #* Norwegian Air Shuttle A.S. 130,053 5,339,136 #* Norwegian Energy Co. A.S. 1,054,250 53,081 #* Odfjell SE Class A 138,810 995,509 Olav Thon Eindom A.S. 12,852 2,180,140 # Opera Software ASA 349,386 4,228,783 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED Shares Value++ ---------- ------------ NORWAY -- (Continued) #* Panoro Energy ASA 1,045,821 $ 554,199 #* PhotoCure ASA 52,582 316,210 Prosafe SE 781,319 6,696,633 * Q-Free ASA 143,444 391,057 #* REC Silicon ASA 8,044,553 4,005,829 #* REC Solar AS 138,239 1,764,837 * Salmar ASA 67,051 821,455 * Sevan Drilling A.S. 1,030,389 982,895 * Sevan Marine ASA 129,032 574,709 * Siem Offshore, Inc. 604,424 984,315 Solstad Offshore ASA 61,272 1,215,352 #* Songa Offshore 845,806 797,432 SpareBank 1 SMN 260,137 2,192,301 SpareBank 1 SR Bank ASA 153,761 1,381,837 Stolt-Nielsen, Ltd. 71,996 2,038,482 * Storebrand ASA 573,845 3,710,761 Tomra Systems ASA 669,803 6,132,589 TTS Group ASA 180,762 200,182 Veidekke ASA 333,849 2,718,871 # Veripos, Inc. 43,838 215,882 Wilh Wilhelmsen ASA 125,812 1,167,957 Wilh Wilhelmsen Holding ASA Class A 65,996 2,020,375 ------------ TOTAL NORWAY 115,126,917 ------------ PORTUGAL -- (1.5%) Altri SGPS SA 597,102 1,938,033 #* Banco BPI SA 2,123,556 3,362,480 #* Banco Comercial Portugues SA 42,664,897 6,362,258 * Banco Espirito Santo SA 5,775,466 7,588,821 Corticeira Amorim SGPS SA 207,426 575,519 * EDP Renovaveis SA 185,902 1,022,017 Ibersol SGPS SA 20,401 194,246 * Impresa SGPS SA 187,798 233,568 Mota-Engil SGPS SA 363,210 1,664,734 # Novabase SGPS SA 65,729 257,847 Portucel SA 895,166 3,444,380 # Portugal Telecom SGPS SA 1,886,010 8,501,199 # REN - Redes Energeticas Nacionais SGPS SA 914,989 2,745,374 Semapa-Sociedade de Investimento e Gestao 315,847 3,103,781 Sonae 4,329,208 6,253,000 #* Sonae Industria SGPS SA 443,755 362,351 Sonaecom - SGPS SA 571,867 1,854,268 * Sumol + Compal SA 67,967 95,794 Teixeira Duarte SA 734,737 725,661 # ZON OPTIMUS SGPS SA 784,218 5,379,092 ------------ TOTAL PORTUGAL 55,664,423 ------------ RUSSIA -- (0.0%) * Alliance Oil Co., Ltd. 111,934 994,896 ------------ SPAIN -- (5.3%) # Abengoa SA 199,714 617,297 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ----------- SPAIN -- (Continued) # Abengoa SA Class B 873,976 $ 2,116,315 # Acciona SA 96,328 6,106,453 # Acerinox SA 458,116 6,038,697 # Adveo Group International SA 47,865 894,973 # Almirall SA 234,145 3,498,777 Atresmedia Corporacion de Medi 312,481 5,220,604 #* Azkoyen SA 61,293 160,856 Bankinter SA 2,085,446 12,715,217 * Baron de Ley 13,910 1,179,008 # Bolsas y Mercados Espanoles SA 338,781 12,667,129 #* Caja de Ahorros del Mediterraneo 116,412 -- #* Campofrio Food Group SA 107,600 861,621 #* Cementos Portland Valderrivas SA 53,170 491,328 Cie Automotive SA 140,218 1,521,003 #* Codere SA 91,938 178,199 Construcciones y Auxiliar de Ferrocarriles SA 7,857 4,079,656 * Deoleo SA 2,677,780 1,524,741 Dinamia Capital Privado Sociedad de Capital Riesgo SA 20,438 185,015 # Duro Felguera SA 251,747 1,647,384 Ebro Foods SA 378,733 8,543,315 # Elecnor SA 198,254 2,901,443 Ence Energia y Celulosa SA 962,189 3,864,324 #* Ercros SA 483,625 368,275 Faes Farma SA 1,136,955 4,085,260 # Fluidra SA 84,098 287,349 * Fomento de Construcciones y Contratas SA 212,074 4,879,636 * Gamesa Corp. Tecnologica SA 1,113,758 10,755,654 Grupo Catalana Occidente SA 200,421 6,780,625 #* Grupo Ezentis SA 1,994,998 1,114,690 Iberpapel Gestion SA 26,401 547,808 Indra Sistemas SA 480,367 7,921,641 #* Inmobiliaria Colonial SA 108,920 179,019 * Inmobiliaria del Sur SA 2,902 21,351 * Jazztel P.L.C. 1,025,473 11,231,832 Laboratorios Farmaceuticos Rovi SA 70,934 853,415 #* Mediaset Espana Comunicacion SA 793,096 9,679,170 # Melia Hotels International SA 232,123 2,628,075 Miquel y Costas & Miquel SA 37,628 1,454,037 * Natra SA 141,572 430,908 #* NH Hoteles SA 542,107 2,829,334 Obrascon Huarte Lain SA 193,959 8,123,862 Papeles y Cartones de Europa SA 232,611 1,247,171 * Pescanova SA 68,547 -- Prim SA 39,424 303,343 #* Promotora de Informaciones SA Class A 1,480,102 751,246 # Prosegur Cia de Seguridad SA 875,740 5,195,887 #* Realia Business SA 389,643 422,090 * Sacyr SA 1,283,635 6,908,384 * Service Point Solutions SA 174,903 39,245 * Sociedad Nacional de Industrias Apicaciones Celulosa Espanola SA 75,494 20,090 * Solaria Energia y Medio Ambiente SA 98,171 107,925 # Tecnicas Reunidas SA 137,591 7,082,072 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED Shares Value++ ------- ------------ SPAIN -- (Continued) * Telecomunicaciones y Energia 146,125 $ 254,123 Tubacex SA 520,966 2,005,647 Tubos Reunidos SA 495,225 1,234,006 Vidrala SA 77,869 3,333,881 # Viscofan SA 213,526 11,326,669 * Vocento SA 210,717 422,384 * Zeltia SA 845,734 2,913,785 ------------ TOTAL SPAIN 194,753,244 ------------ SWEDEN -- (8.7%) AarhusKarlshamn AB 111,342 6,587,379 Acando AB 282,290 553,824 * Active Biotech AB 20,884 231,745 AddNode Group AB 22,737 131,747 # AddTech AB Class B 86,417 3,939,921 AF AB Class B 133,333 4,212,062 * Arise AB 32,240 118,055 Atrium Ljungberg AB Class B 31,807 433,551 Avanza Bank Holding AB 55,019 1,768,958 # Axfood AB 94,702 4,897,451 # Axis Communications AB 183,851 6,344,242 B&B Tools AB Class B 104,242 1,428,724 #* BE Group AB 215,340 376,760 # Beijer AB G&L Class B 61,718 1,293,917 Beijer Alma AB 87,433 2,283,227 Beijer Electronics AB 55,826 587,635 Betsson AB 137,066 4,306,058 Bilia AB Class A 113,425 2,746,779 BillerudKorsnas AB 656,884 7,706,180 BioGaia AB Class B 61,692 2,101,360 Biotage AB 184,025 286,571 # Bjoern Borg AB 86,437 384,841 * Boras Waefveri AB Series B 6,564 -- Bure Equity AB 326,825 1,262,951 Byggmax Group AB 150,938 1,134,611 Castellum AB 739,664 11,357,362 * Catella AB 76,834 71,833 Catena AB 56,202 889,653 Cavotec SA 1,114 5,721 * CDON Group AB 33,297 130,604 Cision AB 14,615 73,566 # Clas Ohlson AB Class B 169,324 2,666,384 #* Cloetta AB Class B 269,107 841,287 Concentric AB 202,603 2,083,954 Concordia Maritime AB Class B 78,854 140,144 Connecta AB 40,724 244,823 Corem Property Group AB Class B 1,868 5,878 * CyberCom Group AB 256,878 93,965 # Dios Fastigheter AB 171,208 1,104,157 Doro AB 94,731 689,599 Duni AB 152,569 1,717,813 * East Capital Explorer AB 47,726 402,596 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ----------- SWEDEN -- (Continued) # Enea AB 63,008 $ 526,973 #* Eniro AB 420,612 1,827,443 Fabege AB 585,887 6,741,212 Fagerhult AB 18,323 562,036 * Fastighets AB Balder 279,717 2,467,453 Fenix Outdoor AB 7,406 296,922 FinnvedenBulten AB 35,634 230,424 Gunnebo AB 190,542 1,094,203 Haldex AB 218,520 1,582,561 Heba Fastighets AB Class B 43,722 489,074 Hexpol AB 115,947 8,711,498 # HIQ International AB 254,170 1,473,086 HMS Networks AB 7,040 156,980 # Holmen AB Class B 273,916 9,098,680 Hufvudstaden AB Class A 189,483 2,480,097 Husqvarna AB Class A 37,223 218,505 # Husqvarna AB Class B 1,698,949 9,982,194 * ICA Gruppen AB 138,489 4,185,473 Industrial & Financial Systems Class B 89,522 2,056,111 Indutrade AB 60,615 2,370,393 Intrum Justitia AB 308,493 8,202,633 JM AB 372,482 10,610,995 * KappAhl AB 277,470 1,640,557 #* Karolinska Development AB Class B 58,197 298,708 Klovern AB 387,861 1,720,359 KNOW IT AB 75,523 642,455 Kungsleden AB 697,243 5,121,289 Lagercrantz AB Class B 76,298 1,324,519 * Lindab International AB 330,563 3,218,480 Loomis AB Class B 318,925 7,644,884 Meda AB Class A 976,572 10,958,586 #* Medivir AB Class B 157,903 2,066,487 # Mekonomen AB 93,737 3,091,064 #* Micronic Mydata AB 390,070 782,426 Modern Times Group AB Class B 234,304 12,780,214 MQ Holding AB 56,493 156,730 NCC AB Class A 24,456 764,033 NCC AB Class B 364,909 11,224,343 Nederman Holding AB 3,680 94,803 Net Entertainment NE AB Class B 138,086 2,672,028 * Net Insight AB Class B 1,189,130 251,171 New Wave Group AB Class B 197,176 1,120,053 # Nibe Industrier AB Class B 353,045 6,768,861 Nobia AB 666,139 5,798,958 Nolato AB Class B 89,994 1,836,415 Nordnet AB Class B 401,993 1,716,709 OEM International AB Class B 45,688 528,482 #* Orexo AB 23,599 472,714 # Oriflame Cosmetics SA 69,970 2,208,044 #* PA Resources AB 35,211 54,338 # Peab AB 716,499 4,212,824 # Pricer AB Class B 452,718 508,942 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED Shares Value++ ------- ------------ SWEDEN -- (Continued) Proact IT Group AB 41,297 $ 450,983 Probi AB 28,553 178,573 Proffice AB Class B 262,115 998,202 # Ratos AB Class B 655,025 5,668,535 * RaySearch Laboratories AB 56,125 224,412 ReadSoft AB Class B 87,941 266,231 * Rezidor Hotel Group AB 334,560 1,903,865 * rnb Retail and Brands AB 48,828 89,770 Saab AB Class B 253,955 5,083,814 Sagax AB Class B 46,219 168,853 * SAS AB 610,190 1,825,798 # Sectra AB 31,357 332,835 Securitas AB Class B 998,620 11,387,211 Semcon AB 81,791 890,800 SkiStar AB 97,008 1,294,228 # SSAB AB Class A 824,806 5,426,018 SSAB AB Class B 352,706 1,989,977 Sweco AB Class B 183,804 2,321,887 * Swedish Orphan Biovitrum AB 612,905 5,858,311 Swedol AB Class B 29,796 95,342 # Systemair AB 27,899 490,971 #* TradeDoubler AB 185,204 511,608 #* Transcom WorldWide SA 87,000 17,311 # Transmode AB 51,849 857,154 Trelleborg AB Class B 547,043 10,322,513 * Tribona AB 32,750 195,870 Unibet Group P.L.C. 132,830 5,328,668 Uniflex AB 12,408 65,780 VBG Group AB Class B 137 2,690 Vitrolife AB 60,303 738,004 # Wallenstam AB Class B 399,066 5,533,819 Wihlborgs Fastigheter AB 289,738 4,997,302 ------------ TOTAL SWEDEN 320,199,645 ------------ SWITZERLAND -- (10.7%) * Acino Holding AG 16,820 2,131,024 * Advanced Digital Broadcast Holdings SA 2,024 37,669 * AFG Arbonia-Forster Holding AG 79,104 2,741,869 Allreal Holding AG 51,373 7,063,130 # Alpiq Holding AG 3,712 490,255 ALSO Holding AG 16,195 845,506 ams AG 35,838 3,912,869 APG SGA SA 7,099 1,882,152 Ascom Holding AG 160,822 2,371,891 Autoneum Holding AG 16,853 2,243,782 # Bachem Holding AG Class B 24,136 1,379,337 Baloise Holding AG 5,851 679,733 Bank Coop AG 31,671 1,663,317 Banque Cantonale de Geneve 4,098 1,047,323 Banque Cantonale du Jura 4,442 323,956 Banque Cantonale Vaudoise 3,301 1,834,246 Banque Privee Edmond de Rothschild SA 157 2,757,094 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED Shares Value++ ------- ----------- SWITZERLAND -- (Continued) Barry Callebaut AG 76 $ 79,385 Basilea Pharmaceutica 9,521 1,036,912 Basler Kantonalbank 4,602 387,288 Belimo Holding AG 1,851 4,770,847 Bell AG 352 861,521 Bellevue Group AG 27,747 397,967 # Berner Kantonalbank AG 23,232 5,788,358 BKW AG 36,260 1,259,429 * Bobst Group AG 45,114 1,592,363 Bossard Holding AG 14,138 2,875,669 Bucher Industries AG 33,342 9,233,400 Burckhardt Compression Holding AG 7,479 2,996,971 Burkhalter Holding AG 13,850 1,121,782 Calida Holding AG 10,227 316,295 Carlo Gavazzi Holding AG 1,334 305,977 Centralschweizerische Kraftwerke AG 26 8,301 Cham Paper Holding AG 1,836 484,363 * Charles Voegele Holding AG 38,302 493,083 Cicor Technologies 5,893 209,629 Cie Financiere Tradition SA 9,068 490,842 Clariant AG 634,620 11,181,902 Coltene Holding AG 16,093 831,475 Conzzeta AG 1,345 2,790,024 * Cosmo Pharmaceuticals SpA 1,287 89,816 Daetwyler Holding AG 29,754 3,783,552 * Dufry AG 73,187 11,824,599 # EFG International AG 242,627 3,569,817 * Elma Electronic AG 294 130,512 Emmi AG 13,244 3,810,555 Energiedienst Holding AG 71,249 2,438,739 * Evolva Holding SA 154,124 149,304 Flughafen Zuerich AG 18,960 10,507,375 Forbo Holding AG 6,983 5,475,568 Galenica AG 20,798 18,381,416 GAM Holding AG 806,220 15,064,909 #* Gategroup Holding AG 118,415 3,101,213 Georg Fischer AG 18,366 12,651,376 Gurit Holding AG 1,837 853,479 Helvetia Holding AG 27,336 12,892,724 Huber & Suhner AG 50,241 2,747,457 Implenia AG 65,242 4,393,697 Inficon Holding AG 8,083 2,519,077 Interroll Holding AG 2,488 1,197,314 Intershop Holdings 5,592 2,027,991 Jungfraubahn Holding AG 3,095 221,437 Kaba Holding AG Class B 12,166 5,205,706 Kardex AG 28,973 1,262,398 Komax Holding AG 15,293 2,092,879 Kudelski SA 201,663 2,781,288 Kuoni Reisen Holding AG 15,477 6,542,050 LEM Holding SA 3,667 2,706,106 # Liechtensteinische Landesbank AG 19,087 756,250 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED Shares Value++ --------- ----------- SWITZERLAND -- (Continued) * LifeWatch AG 27,517 $ 214,274 # Logitech International SA 693,935 7,107,513 Lonza Group AG 255,221 22,781,770 # Luzerner Kantonalbank AG 17,399 6,941,658 MCH Group AG 1,404 93,681 Metall Zug AG 690 1,657,364 #* Meyer Burger Technology AG 408,473 4,792,908 Micronas Semiconductor Holding AG 155,041 1,268,994 Mobilezone Holding AG 142,129 1,473,062 Mobimo Holding AG 26,956 5,644,913 Nobel Biocare Holding AG 493,843 8,147,120 OC Oerlikon Corp. AG 858,856 12,006,957 * Orascom Development Holding AG 17,941 255,621 #* Orell Fuessli Holding AG 5,198 522,577 Orior AG 20,502 1,152,263 Panalpina Welttransport Holding AG 22,115 3,305,127 * Parco Industriale e Immobiliare SA 600 -- Phoenix Mecano AG 3,100 1,854,361 PSP Swiss Property AG 148,327 12,748,515 PubliGroupe AG 8,975 888,606 Rieter Holding AG 16,400 3,433,542 Romande Energie Holding SA 2,714 3,392,374 Schaffner Holding AG 2,255 627,069 * Schmolz + Bickenbach AG 2,540,584 3,215,351 Schweiter Technologies AG 4,466 2,995,372 Schweizerische National-Versicherungs-Gesellschaft AG 59,799 2,955,451 Siegfried Holding AG 16,598 2,736,640 St Galler Kantonalbank AG 10,381 4,221,775 # Straumann Holding AG 6,047 1,201,907 Swiss Life Holding AG 62,436 12,379,830 Swisslog Holding AG 1,022,294 1,193,058 Swissquote Group Holding SA 47,450 1,942,318 Tamedia AG 14,891 1,769,694 Tecan Group AG 17,731 1,850,794 Temenos Group AG 151,121 3,850,772 * Tornos Holding AG 38,028 188,143 U-Blox AG 27,034 2,439,046 Valartis Group AG 936 19,139 Valiant Holding 61,598 5,746,270 Valora Holding AG 14,281 3,528,481 Vaudoise Assurances Holding SA Class B 4,108 1,737,017 Verwaltungs- und Privat-Bank AG 16,644 1,613,429 Vetropack Holding AG 877 1,752,196 #* Von Roll Holding AG 233,256 388,415 Vontobel Holding AG 121,104 4,847,423 Walliser Kantonalbank 1,440 1,204,284 Walter Meier AG 23,690 1,506,872 Ypsomed Holding AG 3,079 196,662 # Zehnder Group AG 45,677 2,151,421 * Zueblin Immobilien Holding AG 261,040 586,691 Zug Estates Holding AG 442 573,979 THE CONTINENTAL SMALL COMPANY SERIES CONTINUED Shares Value++ ----------- -------------- SWITZERLAND -- (Continued) Zuger Kantonalbank AG 627 $ 3,276,104 -------------- TOTAL SWITZERLAND 394,476,343 -------------- UNITED KINGDOM -- (0.2%) Grafton Group P.L.C. 712,146 6,763,969 -------------- TOTAL COMMON STOCKS 3,208,238,458 -------------- RIGHTS/WARRANTS -- (0.0%) AUSTRIA -- (0.0%) * Intercell AG Rights 05/16/13 254,689 -- -------------- ISRAEL -- (0.0%) * Tower Semiconductor, Ltd. Warrants 06/27/17 1 1 -------------- ITALY -- (0.0%) #* Hera SpA Rights 11/19/13 2,829,591 51,097 #* Seat Pagine Gialle SpA Warrants 08/31/14 2,988,837 -- -------------- TOTAL ITALY 51,097 -------------- TOTAL RIGHTS/WARRANTS 51,098 -------------- Shares/ Face Amount (000) Value+ ----------- -------------- SECURITIES LENDING COLLATERAL -- (13.3%) (S)@ DFA Short Term Investment Fund 42,437,338 491,000,000 @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $123,381 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $111,576) to be repurchased at $109,388 $ 109 109,388 -------------- TOTAL SECURITIES LENDING COLLATERAL 491,109,388 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $2,907,677,627) $3,699,398,944 ============== THE EMERGING MARKETS SERIES SCHEDULE OF INVESTMENTS October 31, 2013 Shares Value++ --------- ----------- COMMON STOCKS -- (90.1%) ARGENTINA -- (0.0%) * Celulosa Argentina 1 $ -- ----------- BRAZIL -- (7.7%) AES Tiete SA 53,084 467,067 All America Latina Logistica SA 508,831 1,819,127 Arteris SA 62,000 552,849 Banco Bradesco SA 653,682 10,528,114 Banco do Brasil SA 673,592 8,916,201 Banco Santander Brasil SA 223,400 1,520,133 # Banco Santander Brasil SA ADR 726,366 5,033,716 BM&FBovespa SA 2,134,108 12,028,075 BR Malls Participacoes SA 360,223 3,479,732 * Braskem SA Sponsored ADR 153,394 2,704,336 BRF SA 94,100 2,207,676 BRF SA ADR 564,360 13,222,955 CCR SA 880,368 7,256,695 Centrais Eletricas Brasileiras SA 132,500 419,940 # Centrais Eletricas Brasileiras SA ADR 86,923 460,692 Centrais Eletricas Brasileiras SA Sponsored ADR 100,200 316,632 CETIP SA - Mercados Organizados 191,000 2,110,804 # Cia Brasileira de Distribuicao Grupo Pao de Acucar ADR 85,830 4,327,549 Cia de Bebidas das Americas ADR 622,039 23,139,851 Cia de Saneamento Basico do Estado de Sao Paulo 104,600 1,108,495 Cia de Saneamento Basico do Estado de Sao Paulo ADR 178,668 1,895,668 Cia Energetica de Minas Gerais 68,587 607,124 Cia Hering 108,600 1,573,056 Cia Paranaense de Energia 17,100 173,156 # Cia Paranaense de Energia Sponsored ADR 57,783 802,028 Cia Siderurgica Nacional SA 633,652 3,430,436 # Cia Siderurgica Nacional SA Sponsored ADR 202,748 1,123,224 Cielo SA 357,475 10,841,002 Cosan SA Industria e Comercio 133,169 2,663,202 CPFL Energia SA 83,360 711,632 CPFL Energia SA ADR 63,516 1,072,150 Cyrela Brazil Realty SA Empreendimentos e Participacoes 356,197 2,648,071 Duratex SA 321,230 1,995,554 EcoRodovias Infraestrutura e Logistica SA 150,488 1,019,782 EDP - Energias do Brasil SA 236,900 1,351,513 Embraer SA 164,400 1,194,338 Embraer SA ADR 133,319 3,918,245 #* Fibria Celulose SA Sponsored ADR 514,098 6,708,979 Gerdau SA 140,232 931,815 Gerdau SA Sponsored ADR 150,151 1,190,697 Grendene SA 91,864 828,214 Guararapes Confeccoes SA 6,056 270,407 Hypermarcas SA 939,724 8,194,939 Itau Unibanco Holding SA 237,236 3,442,428 Itau Unibanco Holding SA ADR 169,341 2,609,539 JBS SA 823,581 2,940,308 Kroton Educacional SA 206,884 3,056,808 Localiza Rent a Car SA 139,560 2,274,905 THE EMERGING MARKETS SERIES CONTINUED Shares Value++ ----------- ------------ BRAZIL -- (Continued) Lojas Americanas SA 126,010 $ 788,142 Lojas Renner SA 127,687 3,850,892 M Dias Branco SA 35,100 1,646,651 Multiplan Empreendimentos Imobiliarios SA 89,300 2,094,581 Natura Cosmeticos SA 173,400 3,460,575 Odontoprev SA 7,800 32,209 Oi SA 179,758 320,443 Oi SA ADR(670851104) 7,319 12,735 # Oi SA ADR(670851203) 107,889 186,648 Petroleo Brasileiro SA 462,400 4,030,344 Petroleo Brasileiro SA ADR 1,372,750 23,927,033 Petroleo Brasileiro SA Sponsored ADR 1,985,055 36,048,599 Porto Seguro SA 140,099 1,758,701 Raia Drogasil SA 229,600 1,675,954 Souza Cruz SA 378,070 4,089,650 Tim Participacoes SA 439,800 2,226,946 Tim Participacoes SA ADR 63,679 1,618,720 Totvs SA 114,575 1,935,228 Tractebel Energia SA 142,100 2,419,622 Transmissora Alianca de Energia Eletrica SA 304,634 2,936,453 Ultrapar Participacoes SA 76,200 2,025,714 Ultrapar Participacoes SA Sponsored ADR 254,308 6,772,222 * Usinas Siderurgicas de Minas Gerais SA 39,100 198,239 Vale SA 133,600 2,114,793 # Vale SA Sponsored ADR(91912E105) 1,249,020 19,996,810 Vale SA Sponsored ADR(91912E204) 502,843 7,361,622 WEG SA 248,866 3,241,398 ------------ TOTAL BRAZIL 307,860,783 ------------ CHILE -- (1.6%) AES Gener SA 2,043,503 1,224,745 Aguas Andinas SA Class A 1,962,055 1,328,423 # Banco de Chile ADR 35,284 3,240,130 Banco de Credito e Inversiones 36,262 2,116,492 # Banco Santander Chile ADR 160,077 3,931,491 Banmedica SA 2,996 5,495 CAP SA 68,804 1,428,332 Cencosud SA 1,142,664 4,659,769 Cencosud SA ADR 8,408 105,857 CFR Pharmaceuticals SA 1,737,925 440,674 Cia Cervecerias Unidas SA 9,296 124,224 Cia Cervecerias Unidas SA ADR 43,217 1,153,462 Cia General de Electricidad SA 9,973 56,635 Colbun SA 6,194,334 1,532,750 Corpbanca SA 112,194,160 1,255,815 # Corpbanca SA ADR 26,066 448,335 E.CL SA 16,312 25,462 Embotelladora Andina SA Class A ADR 22,244 576,120 Embotelladora Andina SA Class B ADR 19,587 669,875 # Empresa Nacional de Electricidad SA Sponsored ADR 100,815 4,546,756 Empresas CMPC SA 1,170,705 3,480,761 Empresas COPEC SA 471,084 6,868,784 THE EMERGING MARKETS SERIES CONTINUED Shares Value++ ---------- ----------- CHILE -- (Continued) Enersis SA Sponsored ADR 478,616 $ 7,897,164 ENTEL Chile SA 122,304 1,885,172 Gasco SA 4,891 52,083 Inversiones Aguas Metropolitanas SA 377,408 701,603 # Latam Airlines Group SA Sponsored ADR 184,752 3,057,646 Molibdenos y Metales SA 21,739 349,196 Ripley Corp. SA 704,487 618,312 SACI Falabella 712,387 7,084,757 Sigdo Koppers SA 338,893 565,587 Sociedad Quimica y Minera de Chile SA Sponsored ADR 91,271 2,519,992 Sonda SA 439,410 1,140,059 ----------- TOTAL CHILE 65,091,958 ----------- CHINA -- (14.1%) Agile Property Holdings, Ltd. 1,754,000 2,109,969 Agricultural Bank of China, Ltd. Class H 18,731,000 9,026,375 Air China, Ltd. Class H 1,690,000 1,150,621 #* Aluminum Corp. of China, Ltd. ADR 112,680 1,025,388 #* Aluminum Corp. of China, Ltd. Class H 796,000 294,347 #* Angang Steel Co., Ltd. Class H 1,422,000 860,947 # Anhui Conch Cement Co., Ltd. Class H 1,048,500 3,665,788 Bank of China, Ltd. Class H 65,514,100 30,844,677 Bank of Communications Co., Ltd. Class H 6,896,515 5,053,356 BBMG Corp. Class H 753,500 538,696 Beijing Capital International Airport Co., Ltd. Class H 198,000 139,104 # Beijing Enterprises Holdings, Ltd. 668,972 5,474,124 Belle International Holdings, Ltd. 3,431,000 4,811,254 Biostime International Holdings, Ltd. 48,000 368,609 Brilliance China Automotive Holdings, Ltd. 2,052,000 3,573,440 #* Byd Co., Ltd. Class H 415,886 2,064,558 China BlueChemical, Ltd. 1,502,000 963,534 China CITIC Bank Corp., Ltd. Class H 7,023,928 3,948,984 # China Coal Energy Co., Ltd. Class H 3,792,777 2,322,460 China Communications Construction Co., Ltd. Class H 3,581,000 2,918,245 China Communications Services Corp., Ltd. Class H 2,892,000 1,787,501 China Construction Bank Corp. Class H 56,443,590 43,914,613 #* China COSCO Holdings Co., Ltd. Class H 2,263,000 1,077,331 * China Eastern Airlines Corp., Ltd. ADR 2,800 47,348 * China Eastern Airlines Corp., Ltd. Class H 1,382,000 475,721 China Everbright International, Ltd. 627,000 626,671 # China Gas Holdings, Ltd. 2,348,000 2,609,603 China International Marine Containers Group Co., Ltd. Class H 330,000 621,424 China Life Insurance Co., Ltd. ADR 330,798 13,043,365 China Life Insurance Co., Ltd. Class H 784,000 2,069,586 China Longyuan Power Group Corp. Class H 1,745,000 2,005,409 China Mengniu Dairy Co., Ltd. 976,000 4,274,454 China Merchants Bank Co., Ltd. Class H 3,724,554 7,405,880 China Merchants Holdings International Co., Ltd. 1,023,426 3,621,437 # China Minsheng Banking Corp., Ltd. Class H 4,422,500 5,067,908 China Mobile, Ltd. 73,500 763,786 # China Mobile, Ltd. Sponsored ADR 877,340 45,639,227 China Molybdenum Co., Ltd. Class H 896,322 365,691 THE EMERGING MARKETS SERIES CONTINUED Shares Value++ --------- ----------- CHINA -- (Continued) # China National Building Material Co., Ltd. Class H 2,181,916 $ 2,130,521 China Oilfield Services, Ltd. Class H 1,184,000 3,308,906 China Overseas Land & Investment, Ltd. 3,042,000 9,407,583 China Pacific Insurance Group Co., Ltd. Class H 1,946,000 7,019,557 China Petroleum & Chemical Corp. ADR 138,384 11,121,898 China Petroleum & Chemical Corp. Class H 8,186,800 6,627,276 # China Railway Construction Corp., Ltd. Class H 2,554,000 2,794,679 China Railway Group, Ltd. Class H 3,077,000 1,741,534 China Resources Cement Holdings, Ltd. 1,609,335 1,074,774 China Resources Enterprise, Ltd. 1,055,000 3,729,566 China Resources Gas Group, Ltd. 572,000 1,480,068 China Resources Land, Ltd. 1,574,000 4,559,723 China Resources Power Holdings Co., Ltd. 1,180,000 3,096,457 China Shenhua Energy Co., Ltd. Class H 2,766,500 8,397,514 #* China Shipping Container Lines Co., Ltd. Class H 4,653,000 1,151,825 China Southern Airlines Co., Ltd. Class H 1,006,000 368,111 China Southern Airlines Co., Ltd. Sponsored ADR 10,900 201,650 China State Construction International Holdings, Ltd. 1,318,000 2,217,311 * China Taiping Insurance Holdings Co., Ltd. 536,800 837,358 China Telecom Corp., Ltd. ADR 50,817 2,626,223 China Telecom Corp., Ltd. Class H 3,562,000 1,860,628 China Unicom Hong Kong, Ltd. ADR 470,600 7,341,360 Chongqing Rural Commercial Bank Class H 26,000 13,135 # CITIC Pacific, Ltd. 1,669,000 2,367,193 # CITIC Securities Co., Ltd. Class H 896,000 1,876,482 CNOOC, Ltd. 3,105,000 6,299,613 CNOOC, Ltd. ADR 115,255 23,317,239 COSCO Pacific, Ltd. 2,285,058 3,316,636 Country Garden Holdings Co., Ltd. 3,575,769 2,461,236 CSR Corp., Ltd. 1,471,000 1,218,245 Datang International Power Generation Co., Ltd. Class H 1,616,000 740,153 Dongfang Electric Corp., Ltd. Class H 290,200 466,080 Dongfeng Motor Group Co., Ltd. Class H 2,302,000 3,242,736 ENN Energy Holdings, Ltd. 514,000 3,030,872 # Evergrande Real Estate Group, Ltd. 6,559,000 2,775,729 Fosun International, Ltd. 1,717,441 1,657,437 * GCL-Poly Energy Holdings, Ltd. 5,826,814 1,780,275 # Geely Automobile Holdings, Ltd. 3,655,000 1,847,148 # Golden Eagle Retail Group, Ltd. 414,000 613,693 Great Wall Motor Co., Ltd. Class H 712,000 4,175,748 # Greentown China Holdings, Ltd. 650,500 1,261,387 Guangdong Investment, Ltd. 1,630,000 1,401,072 Guangshen Railway Co., Ltd. Sponsored ADR 29,254 769,380 Guangzhou Automobile Group Co., Ltd. Class H 1,996,259 2,366,711 * Guangzhou Baiyunshan Pharmaceutical Holdings Co., Ltd. Class H 174,000 628,726 Guangzhou R&F Properties Co., Ltd. 1,225,600 2,147,290 Haier Electronics Group Co., Ltd. 639,000 1,362,369 Haitian International Holdings, Ltd. 79,000 190,427 * Hanergy Solar Group, Ltd. 6,844,000 1,164,777 Hengan International Group Co., Ltd. 545,500 6,682,917 Huadian Power International Corp., Ltd. Class H 856,000 396,501 Huaneng Power International, Inc. Class H 602,000 626,046 THE EMERGING MARKETS SERIES CONTINUED Shares Value++ ---------- ------------ CHINA -- (Continued) Huaneng Power International, Inc. Sponsored ADR 34,452 $ 1,424,246 Industrial & Commercial Bank of China, Ltd. Class H 59,907,185 41,919,158 # Jiangsu Expressway Co., Ltd. Class H 820,000 1,028,845 Jiangxi Copper Co., Ltd. Class H 1,421,000 2,727,994 Kunlun Energy Co., Ltd. 2,312,000 3,788,068 # Lenovo Group, Ltd. 4,593,278 4,908,482 Longfor Properties Co., Ltd. 1,094,000 1,787,911 #* Metallurgical Corp. of China, Ltd. Class H 2,646,000 542,838 * New China Life Insurance Co., Ltd. Class H 395,800 1,115,752 New World China Land, Ltd. 2,554,000 1,405,596 # Nine Dragons Paper Holdings, Ltd. 1,905,000 1,569,343 # PetroChina Co., Ltd. ADR 145,110 16,436,610 PetroChina Co., Ltd. Class H 2,814,000 3,204,529 PICC Property & Casualty Co., Ltd. Class H 2,279,920 3,478,462 # Ping An Insurance Group Co. of China, Ltd. Class H 1,408,000 11,102,437 # Shandong Weigao Group Medical Polymer Co., Ltd. Class H 1,204,000 1,127,449 Shanghai Electric Group Co., Ltd. Class H 2,502,000 880,846 Shanghai Fosun Pharmaceutical Group Co., Ltd. Class H 162,000 365,980 Shanghai Industrial Holdings, Ltd. 701,274 2,305,263 Shanghai Pharmaceuticals Holding Co., Ltd. Class H 495,400 1,025,536 Shenzhou International Group Holdings, Ltd. 390,000 1,337,165 # Shimao Property Holdings, Ltd. 1,956,371 4,901,753 Sihuan Pharmaceutical Holdings Group, Ltd. 704,000 524,549 Sino Biopharmaceutical 1,120,000 785,805 # Sino-Ocean Land Holdings, Ltd. 2,338,192 1,482,647 Sinopec Shanghai Petrochemical Co., Ltd. Class H 1,593,000 420,733 # Sinopec Shanghai Petrochemical Co., Ltd. Sponsored ADR 6,545 253,684 * Sinopec Yizheng Chemical Fibre Co., Ltd. Class H 896,000 248,234 Sinopharm Group Co., Ltd. Class H 747,600 2,020,137 # SOHO China, Ltd. 2,899,263 2,545,194 Sun Art Retail Group, Ltd. 1,746,000 2,855,362 Tencent Holdings, Ltd. 763,600 41,659,099 Tingyi Cayman Islands Holding Corp. 1,440,000 4,068,319 Tsingtao Brewery Co., Ltd. Class H 186,000 1,522,039 # Uni-President China Holdings, Ltd. 759,000 756,397 Want Want China Holdings, Ltd. 4,391,000 6,728,884 Weichai Power Co., Ltd. Class H 428,200 1,713,920 # Yanzhou Coal Mining Co., Ltd. Class H 900,000 932,421 # Yanzhou Coal Mining Co., Ltd. Sponsored ADR 108,916 1,116,389 Zhaojin Mining Industry Co., Ltd. 178,500 143,475 Zhejiang Expressway Co., Ltd. Class H 968,000 883,750 # Zhuzhou CSR Times Electric Co., Ltd. Class H 276,000 979,992 # Zijin Mining Group Co., Ltd. Class H 4,821,000 1,122,815 # Zoomlion Heavy Industry Science and Technology Co., Ltd. 1,066,200 986,280 #* ZTE Corp. Class H 499,038 1,087,570 ------------ TOTAL CHINA 563,085,164 ------------ COLOMBIA -- (0.7%) Almacenes Exito SA 188,633 3,159,915 Banco de Bogota SA 20,555 727,982 Bancolombia SA 99,771 1,376,079 Bancolombia SA Sponsored ADR 89,105 5,001,464 THE EMERGING MARKETS SERIES CONTINUED Shares Value++ ------- ----------- COLOMBIA -- (Continued) Cementos Argos SA 322,140 $ 1,700,625 Ecopetrol SA 979,672 2,329,656 # Ecopetrol SA Sponsored ADR 220,479 10,441,885 Empresa de Energia de Bogota SA 831,271 698,455 Grupo Aval Acciones y Valores 620,146 435,857 Grupo de Inversiones Suramericana SA 1,578 31,271 Grupo Nutresa SA 19,691 280,951 Interconexion Electrica SA ESP 275,768 1,364,012 Isagen SA ESP 762,874 1,217,470 ----------- TOTAL COLOMBIA 28,765,622 ----------- CZECH REPUBLIC -- (0.3%) CEZ A.S. 198,179 5,702,935 Komercni Banka A.S. 16,129 3,995,282 Philip Morris CR A.S. 276 156,982 Telefonica Czech Republic A.S. 142,100 2,317,001 * Unipetrol A.S. 12,131 108,718 ----------- TOTAL CZECH REPUBLIC 12,280,918 ----------- EGYPT -- (0.1%) # Commercial International Bank Egypt S.A.E. GDR 276,614 1,599,823 * Egyptian Financial Group-Hermes Holding GDR 676 1,314 * Global Telecom Holding GDR 428,641 1,450,597 ----------- TOTAL EGYPT 3,051,734 ----------- HONG KONG -- (0.0%) * FU JI Food and Catering Services Holdings, Ltd. 28,900 6,042 ----------- HUNGARY -- (0.3%) Magyar Telekom Telecommunications P.L.C. 438,413 601,140 MOL Hungarian Oil and Gas P.L.C. 41,546 2,840,659 OTP Bank P.L.C. 250,935 5,205,691 Richter Gedeon Nyrt 145,205 2,761,122 * Tisza Chemical Group P.L.C. 23,981 350,730 ----------- TOTAL HUNGARY 11,759,342 ----------- INDIA -- (6.3%) ABB India, Ltd. 46,035 468,037 ACC, Ltd. 51,847 956,996 Adani Enterprises, Ltd. 217,318 733,235 Adani Ports and Special Economic Zone 403,387 952,985 * Adani Power, Ltd. 722,177 381,568 Aditya Birla Nuvo, Ltd. 40,385 803,220 Ambuja Cements, Ltd. 720,850 2,195,203 Apollo Hospitals Enterprise, Ltd. 79,561 1,170,109 Asian Paints, Ltd. 264,310 2,314,086 Axis Bank, Ltd. 270,273 5,381,461 Bajaj Auto, Ltd. 88,932 3,080,795 Bajaj Finserv, Ltd. 38,658 403,056 Bajaj Holdings and Investment, Ltd. 25,772 346,626 Bank of Baroda 95,903 1,006,132 THE EMERGING MARKETS SERIES CONTINUED Shares Value++ --------- ----------- INDIA -- (Continued) Bank of India 151,325 $ 521,283 Berger Paints India, Ltd. 41,763 155,793 Bharat Electronics, Ltd. 17,301 296,519 Bharat Heavy Electricals, Ltd. 637,403 1,462,669 Bharat Petroleum Corp., Ltd. 153,491 896,272 Bharti Airtel, Ltd. 712,612 4,246,448 Bhushan Steel, Ltd. 51,151 399,813 Bosch, Ltd. 11,944 1,706,929 Britannia Industries, Ltd. 15,574 237,646 Cadila Healthcare, Ltd. 39,235 421,314 Cairn India, Ltd. 401,975 2,087,453 Canara Bank 118,214 498,049 Cipla, Ltd. 360,392 2,425,164 Colgate-Palmolive India, Ltd. 41,197 830,204 Container Corp. Of India 54,732 675,928 Cummins India, Ltd. 67,546 434,537 Dabur India, Ltd. 495,434 1,432,160 Divi's Laboratories, Ltd. 41,087 649,578 DLF, Ltd. 486,202 1,198,200 Dr Reddy's Laboratories, Ltd. 23,076 911,834 # Dr Reddy's Laboratories, Ltd. ADR 74,598 2,957,811 Eicher Motors, Ltd. 5,958 383,634 Emami, Ltd. 51,759 417,703 Engineers India, Ltd. 41,692 119,991 * Essar Oil, Ltd. 395,013 334,745 Exide Industries, Ltd. 228,981 464,171 Federal Bank, Ltd. 455,880 611,517 GAIL India, Ltd. 217,415 1,245,732 GAIL India, Ltd. GDR 28,791 998,369 Gillette India, Ltd. 2,685 91,142 GlaxoSmithKline Consumer Healthcare, Ltd. 4,187 313,648 GlaxoSmithKline Pharmaceuticals, Ltd. 25,574 1,010,720 Glenmark Pharmaceuticals, Ltd. 101,902 930,363 GMR Infrastructure, Ltd. 454,854 160,388 Godrej Consumer Products, Ltd. 89,727 1,263,741 Godrej Industries, Ltd. 89,305 427,634 Grasim Industries, Ltd. 6,300 288,359 Havells India, Ltd. 28,408 342,427 HCL Technologies, Ltd. 209,838 3,732,976 HDFC Bank, Ltd. 1,530,953 17,028,382 Hero Motocorp, Ltd. 36,833 1,241,452 Hindalco Industries, Ltd. 1,207,587 2,264,666 Hindustan Petroleum Corp., Ltd. 73,212 239,649 ICICI Bank, Ltd. 8,735 158,592 ICICI Bank, Ltd. Sponsored ADR 208,679 7,787,900 IDBI Bank, Ltd. 346,191 380,816 Idea Cellular, Ltd. 805,036 2,254,294 IDFC, Ltd. 601,656 1,039,776 Indian Oil Corp., Ltd. 327,576 1,080,582 IndusInd Bank, Ltd. 190,939 1,382,314 Infosys, Ltd. 234,483 12,485,974 Infosys, Ltd. Sponsored ADR 233,468 12,387,812 THE EMERGING MARKETS SERIES CONTINUED Shares Value++ --------- ----------- INDIA -- (Continued) ING Vysya Bank, Ltd. 25,010 $ 240,093 Ipca Laboratories, Ltd. 18,943 209,565 ITC, Ltd. 2,259,060 12,277,426 Jaiprakash Associates, Ltd. 1,336,264 1,035,815 * Jaiprakash Power Ventures, Ltd. 454,730 136,166 Jindal Steel & Power, Ltd. 381,409 1,493,990 JSW Energy, Ltd. 592,161 446,727 JSW Steel, Ltd. 124,632 1,746,304 * Jubilant Foodworks, Ltd. 18,139 358,977 Kotak Mahindra Bank, Ltd. 289,527 3,550,852 Larsen & Toubro, Ltd. 312,837 4,952,513 Larsen & Toubro, Ltd. GDR 7,667 117,406 LIC Housing Finance, Ltd. 53,635 196,383 Lupin, Ltd. 134,973 1,945,126 Mahindra & Mahindra, Ltd. 332,035 4,781,557 * Mangalore Refinery & Petrochemicals, Ltd. 355,103 231,237 Marico, Ltd. 116,346 399,147 Maruti Suzuki India, Ltd. 33,769 899,561 Motherson Sumi Systems, Ltd. 134,808 588,886 Mphasis, Ltd. 73,800 507,909 National Aluminium Co., Ltd. 125,699 74,977 Nestle India, Ltd. 15,806 1,440,901 NHPC, Ltd. 2,574,565 756,822 NTPC, Ltd. 924,696 2,238,643 Oberoi Realty, Ltd. 13,876 42,609 Oil & Natural Gas Corp., Ltd. 699,873 3,334,065 Oil India, Ltd. 100,495 773,739 * Oracle Financial Services Software, Ltd. 19,531 1,017,053 Petronet LNG, Ltd. 201,679 405,207 Pidilite Industries, Ltd. 144,452 676,501 Piramal Enterprises, Ltd. 60,551 554,284 Power Grid Corp. of India, Ltd. 900,251 1,480,598 Procter & Gamble Hygiene & Health Care, Ltd. 7,944 355,821 * Ranbaxy Laboratories, Ltd. 137,683 875,833 Reliance Capital, Ltd. 97,310 588,408 Reliance Communications, Ltd. 594,072 1,428,562 Reliance Industries, Ltd. 1,433,931 21,342,373 Reliance Infrastructure, Ltd. 111,967 787,579 * Reliance Power, Ltd. 771,219 918,854 Rural Electrification Corp., Ltd. 47,495 150,372 Sesa Sterlite, Ltd. 1,599,539 5,231,607 Shree Cement, Ltd. 8,675 625,379 Shriram Transport Finance Co., Ltd. 76,457 764,579 Siemens, Ltd. 73,172 701,722 SJVN, Ltd. 381,249 119,239 State Bank of India 152,568 4,456,840 Steel Authority of India, Ltd. 346,711 350,380 Sun Pharmaceutical Industries, Ltd. 613,492 6,059,298 Sun TV Network, Ltd. 78,375 534,821 Tata Chemicals, Ltd. 6,064 26,463 Tata Consultancy Services, Ltd. 413,679 14,186,300 Tata Global Beverages, Ltd. 370,091 987,476 THE EMERGING MARKETS SERIES CONTINUED Shares Value++ ---------- ------------ INDIA -- (Continued) Tata Motors, Ltd. 679,237 $ 4,210,233 # Tata Motors, Ltd. Sponsored ADR 81,024 2,537,672 Tata Power Co., Ltd. 763,990 1,020,502 Tata Steel, Ltd. 301,827 1,654,195 Tech Mahindra, Ltd. 56,640 1,427,703 Titan Industries, Ltd. 207,778 912,550 Torrent Power, Ltd. 5,032 6,857 Ultratech Cement, Ltd. 40,093 1,278,594 Union Bank of India 151,552 304,434 * Unitech, Ltd. 1,237,337 351,654 United Breweries, Ltd. 66,842 999,004 United Spirits, Ltd. 85,313 3,568,707 Wipro, Ltd. 491,956 3,838,164 Wockhardt, Ltd. 19,651 142,527 Yes Bank, Ltd. 161,542 968,023 Zee Entertainment Enterprises, Ltd. 389,718 1,685,695 ------------ TOTAL INDIA 251,818,041 ------------ INDONESIA -- (2.4%) Adaro Energy Tbk PT 12,163,000 1,099,592 AKR Corporindo Tbk PT 1,720,000 739,212 Alam Sutera Realty Tbk PT 12,012,500 647,773 Aneka Tambang Persero Tbk PT 1,281,500 181,612 Astra Agro Lestari Tbk PT 415,000 684,106 Astra International Tbk PT 17,653,110 10,408,071 Bank Central Asia Tbk PT 10,755,500 9,965,050 Bank Danamon Indonesia Tbk PT 3,627,079 1,384,556 Bank Mandiri Persero Tbk PT 9,040,117 6,903,025 Bank Negara Indonesia Persero Tbk PT 7,388,222 3,149,505 * Bank Pan Indonesia Tbk PT 7,175,000 457,130 Bank Rakyat Indonesia Persero Tbk PT 10,941,500 7,679,040 * Bank Tabungan Pensiunan Nasional Tbk PT 768,500 298,023 * Bayan Resources Tbk PT 79,500 61,323 Bumi Serpong Damai PT 7,524,500 1,043,790 Charoen Pokphand Indonesia Tbk PT 6,496,500 2,245,280 Ciputra Development Tbk PT 3,311,000 302,101 Global Mediacom Tbk PT 8,870,500 1,502,468 Gudang Garam Tbk PT 443,500 1,450,029 Holcim Indonesia Tbk PT 1,926,500 439,966 Indo Tambangraya Megah Tbk PT 355,000 941,292 Indocement Tunggal Prakarsa Tbk PT 1,284,500 2,380,443 Indofood CBP Sukses Makmur Tbk PT 998,500 991,299 Indofood Sukses Makmur Tbk PT 4,404,000 2,594,513 Indomobil Sukses Internasional Tbk PT 22,000 9,951 Indosat Tbk PT 1,006,500 392,592 Indosat Tbk PT ADR 1,674 34,317 * Inovisi Infracom Tbk PT 271,945 18,563 Japfa Comfeed Indonesia Tbk PT 853,500 105,919 Jasa Marga Persero Tbk PT 1,526,500 710,646 Kalbe Farma Tbk PT 21,762,500 2,505,587 * Lippo Karawaci Tbk PT 31,811,500 3,185,355 Mayora Indah Tbk PT 870,333 2,258,409 THE EMERGING MARKETS SERIES CONTINUED Shares Value++ ---------- ----------- INDONESIA -- (Continued) Media Nusantara Citra Tbk PT 4,428,000 $ 980,654 MNC Investama Tbk PT 13,972,500 433,494 * Panasia Indo Resources Tbk PT 75,100 2,765 Perusahaan Gas Negara Persero Tbk PT 8,045,500 3,638,921 Perusahaan Perkebunan London Sumatra Indonesia Tbk PT 8,500 1,205 Semen Indonesia Persero Tbk PT 2,585,500 3,289,513 Sinar Mas Agro Resources and Technology Tbk PT 1,116,500 643,574 Sumber Alfaria Trijaya Tbk PT 40,000 1,914 Surya Citra Media Tbk PT 2,348,500 489,471 Tambang Batubara Bukit Asam Persero Tbk PT 848,500 914,646 Telekomunikasi Indonesia Persero Tbk PT 39,175,700 8,148,953 * Tower Bersama Infrastructure Tbk PT 1,510,500 763,319 * Trada Maritime Tbk PT 3,944,000 531,694 Unilever Indonesia Tbk PT 1,381,500 3,673,378 United Tractors Tbk PT 1,461,196 2,267,886 Vale Indonesia Tbk PT 3,118,500 682,950 XL Axiata Tbk PT 2,210,000 876,631 ----------- TOTAL INDONESIA 94,111,506 ----------- MALAYSIA -- (4.1%) Aeon Co. M Bhd 46,100 233,520 Affin Holdings Bhd 532,900 719,766 # AirAsia BHD 1,748,600 1,484,466 Alliance Financial Group Bhd 1,339,200 2,201,353 AMMB Holdings Bhd 2,074,859 4,869,634 Axiata Group Bhd 2,713,975 5,907,866 Batu Kawan BHD 86,200 534,558 Berjaya Land Bhd 95,000 25,441 Berjaya Sports Toto Bhd 725,025 935,147 Boustead Holdings Bhd 454,586 753,459 British American Tobacco Malaysia Bhd 119,400 2,402,822 * Bumi Armada Bhd 1,127,700 1,415,219 # CIMB Group Holdings Bhd 5,147,141 12,234,882 Dialog Group BHD 1,706,900 1,486,691 DiGi.Com Bhd 3,544,020 5,613,007 DRB-Hicom Bhd 1,203,600 968,555 Fraser & Neave Holdings Bhd 90,500 533,870 Gamuda Bhd 1,929,900 2,978,409 Genting Bhd 1,894,300 6,289,120 # Genting Malaysia Bhd 3,181,700 4,354,954 Genting Plantations Bhd 282,600 974,103 Guinness Anchor Bhd 135,200 740,962 Hartalega Holdings Bhd 127,900 293,158 Hong Leong Bank Bhd 606,560 2,746,170 Hong Leong Financial Group Bhd 231,829 1,111,172 IJM Corp. Bhd 1,628,281 2,993,924 IOI Corp. Bhd 3,073,105 5,301,318 KPJ Healthcare Bhd 66,100 127,800 Kuala Lumpur Kepong Bhd 477,300 3,492,611 Kulim Malaysia BHD 470,200 506,583 Lafarge Malayan Bhd 343,580 1,084,725 Magnum Bhd 39,300 41,240 THE EMERGING MARKETS SERIES CONTINUED Shares Value++ ---------- ------------ MALAYSIA -- (Continued) # Malayan Banking Bhd 5,003,321 $ 15,508,389 Malaysia Airports Holdings Bhd 811,351 2,163,257 Malaysia Marine and Heavy Engineering Holdings Bhd 414,500 509,731 * Malaysian Airline System Bhd 4,055,900 436,425 # Maxis Bhd 2,398,100 5,464,988 * MISC Bhd 1,391,098 2,251,541 MMC Corp. Bhd 1,092,100 927,246 Nestle Malaysia Bhd 189,300 4,077,784 # Parkson Holdings Bhd 585,720 697,999 Petronas Chemicals Group Bhd 2,844,500 6,409,586 Petronas Dagangan BHD 259,900 2,520,542 Petronas Gas Bhd 495,300 3,850,433 # PPB Group Bhd 531,900 2,476,808 Public Bank Bhd(B012W42) 67,739 393,149 Public Bank Bhd(B012W53) 1,029,701 5,977,690 RHB Capital Bhd 779,295 1,949,590 * Sapurakencana Petroleum Bhd 3,695,300 4,685,414 Shell Refining Co. Federation of Malaya Bhd 108,100 244,074 Sime Darby Bhd 2,858,620 8,634,345 SP Setia Bhd 623,400 606,817 Sunway Bhd 48,000 42,383 Telekom Malaysia Bhd 898,300 1,491,500 Tenaga Nasional Bhd 2,536,450 7,579,716 UEM Sunrise Bhd 2,094,637 1,552,038 UMW Holdings Bhd 593,466 2,406,662 United Plantations BHD 49,300 417,483 YTL Corp. Bhd 5,691,586 2,975,672 # YTL Power International Bhd 1,948,640 1,173,318 ------------ TOTAL MALAYSIA 162,781,085 ------------ MEXICO -- (5.2%) Alfa S.A.B. de C.V. Class A 3,254,340 8,909,542 # Alpek S.A. de C.V. 57,811 124,951 # America Movil S.A.B. de C.V. Series L 37,750,669 40,420,537 America Movil S.A.B. de C.V. Series L ADR 22,528 482,324 Arca Continental S.A.B. de C.V. 357,200 2,113,537 #* Cemex S.A.B. de C.V. 1,864,388 1,980,526 * Cemex S.A.B. de C.V. Sponsored ADR 1,285,964 13,605,497 # Coca-Cola Femsa S.A.B. de C.V. Series L 298,900 3,642,538 Coca-Cola Femsa S.A.B. de C.V. Sponsored ADR 13,716 1,667,043 Controladora Comercial Mexicana S.A.B. de C.V. 587,862 2,397,901 * Corp. Interamericana de Entretenimiento S.A.B. de C.V. Class B 8,726 5,952 El Puerto de Liverpool S.A.B. de C.V. 177,295 1,909,346 Fomento Economico Mexicano S.A.B. de C.V. 1,793,669 16,765,060 Fomento Economico Mexicano S.A.B. de C.V. Sponsored ADR 25,323 2,362,636 Grupo Aeroportuario del Sureste S.A.B. de C.V. ADR 34,897 4,153,092 # Grupo Bimbo S.A.B. de C.V. Series A 1,661,379 5,590,031 # Grupo Carso S.A.B. de C.V. Series A1 704,241 3,837,168 Grupo Comercial Chedraui S.A. de C.V. 359,836 1,121,380 Grupo Financiero Banorte S.A.B. de C.V. 2,832,687 18,133,018 Grupo Financiero Inbursa S.A.B. de C.V. 2,146,713 5,531,625 Grupo Industrial Maseca S.A.B. de C.V. Class B 92,387 165,270 THE EMERGING MARKETS SERIES CONTINUED Shares Value++ ---------- ------------ MEXICO -- (Continued) Grupo Mexico S.A.B. de C.V. Series B 3,796,416 $ 12,031,792 * Grupo Qumma S.A. de C.V. Series B 1,591 -- Grupo Televisa S.A.B. Series CPO 2,556,698 15,557,014 Grupo Televisa S.A.B. Sponsored ADR 116,618 3,549,852 #* Impulsora del Desarrollo y El Empleo en America Latina S.A.B. de C.V. 2,373,426 4,820,617 * Industrias CH S.A.B. de C.V. Series B 19,078 93,612 Industrias Penoles S.A.B. de C.V. 108,150 3,140,161 Kimberly-Clark de Mexico S.A.B. de C.V. Class A 1,823,400 5,544,025 Mexichem S.A.B. de C.V. 1,035,324 4,313,569 #* Minera Frisco S.A.B. de C.V. 783,633 2,012,049 #* OHL Mexico S.A.B. de C.V. 761,383 1,953,753 * Organizacion Soriana S.A.B. de C.V. Class B 1,112,475 3,599,892 #* Promotora y Operadora de Infraestructura S.A.B. de C.V. 34,023 345,491 Savia SA Class A 120,000 -- Wal-Mart de Mexico S.A.B. de C.V. Series V 5,418,775 14,087,631 ------------ TOTAL MEXICO 205,968,432 ------------ PERU -- (0.3%) Cementos Pacasmayo SAA ADR 3,559 42,067 # Cia de Minas Buenaventura SA ADR 103,995 1,507,928 Credicorp, Ltd. 63,638 8,692,951 ------------ TOTAL PERU 10,242,946 ------------ PHILIPPINES -- (1.3%) Aboitiz Equity Ventures, Inc. 1,585,460 1,867,483 Aboitiz Power Corp. 1,495,200 1,177,078 Alliance Global Group, Inc. 6,710,300 4,094,443 Ayala Corp. 183,605 2,563,503 Ayala Land, Inc. 5,882,318 4,004,506 Bank of the Philippine Islands 844,014 1,953,048 BDO Unibank, Inc. 1,533,841 2,877,595 China Banking Corp. 1,380 1,980 DMCI Holdings, Inc. 1,070,440 1,282,267 Energy Development Corp. 8,586,100 1,152,282 * Fwbc Holdings, Inc. 2,006,957 -- Globe Telecom, Inc. 34,395 1,385,633 International Container Terminal Services, Inc. 876,380 2,109,925 JG Summit Holdings, Inc. 168,900 170,691 Jollibee Foods Corp. 408,700 1,678,645 LT Group, Inc. 1,742,400 669,463 Manila Electric Co. 126,130 887,082 Megaworld Corp. 18,982,000 1,684,115 Metro Pacific Investments Corp. 9,128,100 1,030,550 Metropolitan Bank & Trust 1,146,499 2,363,902 Philippine Long Distance Telephone Co. 36,785 2,440,978 Philippine Long Distance Telephone Co. Sponsored ADR 3,998 264,468 * Philippine National Bank 349,520 780,771 Robinsons Land Corp. 2,175,300 1,141,102 San Miguel Corp. 427,890 752,713 Semirara Mining Corp. 112,800 720,168 SM Investments Corp. 294,252 5,829,165 SM Prime Holdings, Inc. 5,616,110 2,487,796 THE EMERGING MARKETS SERIES CONTINUED Shares Value++ --------- ----------- PHILIPPINES -- (Continued) Top Frontier Investment Holdings, Inc. 42,789 $ 38,125 Universal Robina Corp. 879,930 2,597,230 ----------- TOTAL PHILIPPINES 50,006,707 ----------- POLAND -- (1.7%) Bank Handlowy w Warszawie SA 36,694 1,410,312 * Bank Millennium SA 701,813 1,744,300 Bank Pekao SA 132,686 8,307,741 Bank Zachodni WBK SA 3,346 407,542 # BRE Bank SA 17,078 2,820,500 * Cyfrowy Polsat SA 86,412 628,642 Enea SA 73,778 347,175 Eurocash SA 72,770 1,117,844 * Getin Noble Bank SA 1,002,923 884,879 Grupa Azoty SA 27,128 717,156 * Grupa Lotos SA 25,811 314,854 Grupa Zywiec SA 11,564 1,654,765 * ING Bank Slaski SA 34,085 1,249,699 Jastrzebska Spolka Weglowa SA 38,639 834,216 * Kernel Holding SA 14,630 196,800 KGHM Polska Miedz SA 131,777 5,320,103 LPP SA 521 1,525,280 Lubelski Wegiel Bogdanka SA 9,469 349,917 PGE SA 920,894 5,379,332 Polski Koncern Naftowy Orlen SA 378,082 5,333,795 Polskie Gornictwo Naftowe i Gazownictwo SA 1,617,383 2,974,738 Powszechna Kasa Oszczednosci Bank Polski SA 854,863 11,324,324 Powszechny Zaklad Ubezpieczen SA 59,813 9,098,301 Synthos SA 506,543 857,880 Tauron Polska Energia SA 776,176 1,266,154 Telekomunikacja Polska SA 616,223 1,995,723 ----------- TOTAL POLAND 68,061,972 ----------- RUSSIA -- (5.2%) Eurasia Drilling Co., Ltd. GDR 126,471 5,352,340 Federal Hydrogenerating Co. JSC ADR 1,423,628 2,402,651 Gazprom OAO Sponsored ADR 6,850,921 64,038,306 Globaltrans Investment P.L.C. GDR 83,363 1,268,848 Lukoil OAO Sponsored ADR 556,966 36,477,853 Magnitogorsk Iron & Steel Works GDR 155,928 503,891 Mail.ru Group, Ltd. GDR 46,941 1,730,776 #* Mechel Sponsored ADR 170,001 537,203 MMC Norilsk Nickel OJSC ADR 532,268 8,040,268 Novolipetsk Steel OJSC GDR 97,820 1,666,731 Novorossiysk Commercial Sea Port PJSC GDR 33,123 273,313 O'Key Group SA GDR 35,623 421,309 Phosagro OAO GDR 52,146 539,336 * PIK Group GDR 2,241 4,513 Rosneft OAO GDR 1,224,426 9,660,424 Rostelecom OJSC Sponsored ADR 69,399 1,508,206 Sberbank of Russia Sponsored ADR 2,809,303 35,825,291 Severstal OAO GDR 247,044 2,151,943 THE EMERGING MARKETS SERIES CONTINUED Shares Value++ --------- ------------ RUSSIA -- (Continued) Tatneft OAO Sponsored ADR 241,102 $ 9,903,972 TMK OAO GDR 52,030 671,811 Uralkali OJSC GDR 271,413 7,242,402 # VimpelCom, Ltd. Sponsored ADR 610,357 8,783,037 VTB Bank OJSC GDR 1,820,217 5,043,262 * X5 Retail Group NV GDR 98,102 1,594,710 ------------ TOTAL RUSSIA 205,642,396 ------------ SOUTH AFRICA -- (7.1%) # African Bank Investments, Ltd. 709,671 1,198,912 African Rainbow Minerals, Ltd. 128,693 2,463,932 * Anglo American Platinum, Ltd. 74,041 2,993,122 # AngloGold Ashanti, Ltd. Sponsored ADR 331,815 5,010,406 * ArcelorMittal South Africa, Ltd. 203,913 803,388 Aspen Pharmacare Holdings, Ltd. 307,375 8,551,052 Assore, Ltd. 31,119 1,270,935 AVI, Ltd. 294,307 1,728,847 # Barclays Africa Group, Ltd. 365,243 5,641,249 Barloworld, Ltd. 275,602 2,468,889 # Bidvest Group, Ltd. 338,327 9,014,568 # Capitec Bank Holdings, Ltd. 44,862 955,715 Coronation Fund Managers, Ltd. 230,512 1,880,019 Discovery, Ltd. 357,805 3,023,665 Distell Group, Ltd. 16,261 217,697 # Exxaro Resources, Ltd. 142,511 2,182,475 FirstRand, Ltd. 3,444,432 12,365,468 Foschini Group, Ltd. (The) 229,375 2,642,421 # Gold Fields, Ltd. Sponsored ADR 710,430 3,267,978 Harmony Gold Mining Co., Ltd. 77,306 266,751 Impala Platinum Holdings, Ltd. 509,209 6,185,195 Imperial Holdings, Ltd. 227,001 4,824,722 Investec, Ltd. 266,068 1,885,783 # Kumba Iron Ore, Ltd. 74,255 3,105,361 Liberty Holdings, Ltd. 159,000 1,965,781 Life Healthcare Group Holdings, Ltd. 937,361 3,823,307 Massmart Holdings, Ltd. 103,729 1,663,046 Mediclinic International, Ltd. 306,464 2,309,490 MMI Holdings, Ltd. 1,346,403 3,300,819 Mondi, Ltd. 128,477 2,296,433 # Mr Price Group, Ltd. 238,341 3,751,202 # MTN Group, Ltd. 1,882,816 37,425,026 Nampak, Ltd. 704,489 2,328,997 # Naspers, Ltd. Class N 416,705 39,005,158 Nedbank Group, Ltd. 230,958 5,021,448 Netcare, Ltd. 1,050,827 2,607,564 # Pick n Pay Stores, Ltd. 244,318 1,154,662 PPC, Ltd. 60,146 190,005 PSG Group, Ltd. 61,341 504,395 Sanlam, Ltd. 1,983,108 10,640,506 Santam, Ltd. 38,343 727,798 # Sasol, Ltd. 19,082 975,048 # Sasol, Ltd. Sponsored ADR 583,774 29,784,149 THE EMERGING MARKETS SERIES CONTINUED Shares Value++ --------- ------------ SOUTH AFRICA -- (Continued) Shoprite Holdings, Ltd. 430,118 $ 7,876,581 Spar Group, Ltd. (The) 171,619 2,196,130 Standard Bank Group, Ltd. 1,209,908 15,392,568 #* Steinhoff International Holdings, Ltd. 1,482,591 5,723,271 # Tiger Brands, Ltd. 168,710 4,949,436 Truworths International, Ltd. 453,643 4,335,321 Tsogo Sun Holdings, Ltd. 288,868 810,061 # Vodacom Group, Ltd. 391,328 4,488,711 Woolworths Holdings, Ltd. 667,992 5,024,178 ------------ TOTAL SOUTH AFRICA 284,219,641 ------------ SOUTH KOREA -- (14.9%) Amorepacific Corp. 2,987 2,451,185 # AMOREPACIFIC Group 3,010 1,062,180 BS Financial Group, Inc. 221,660 3,558,705 # Celltrion, Inc. 55,053 2,394,059 Cheil Industries, Inc. 51,812 4,393,147 * Cheil Worldwide, Inc. 87,060 2,145,048 # CJ CheilJedang Corp. 8,825 2,141,755 # CJ Corp. 16,574 1,733,466 * CJ Korea Express Co., Ltd. 5,587 485,660 Coway Co., Ltd. 50,818 2,908,622 Daelim Industrial Co., Ltd. 36,223 3,362,334 #* Daewoo Engineering & Construction Co., Ltd. 133,508 1,081,754 # Daewoo International Corp. 45,753 1,685,213 Daewoo Securities Co., Ltd. 220,281 2,055,924 # Daewoo Shipbuilding & Marine Engineering Co., Ltd. 109,830 3,458,486 Dongbu Insurance Co., Ltd. 45,450 2,033,796 Doosan Corp. 9,398 1,259,008 # Doosan Heavy Industries & Construction Co., Ltd. 52,779 2,154,093 #* Doosan Infracore Co., Ltd. 100,420 1,437,335 E-Mart Co., Ltd. 25,293 6,052,515 # GS Engineering & Construction Corp. 38,637 1,304,484 GS Holdings 66,625 3,668,849 Hana Financial Group, Inc. 316,379 12,165,496 Hankook Tire Co., Ltd. 66,995 3,930,219 # Hanwha Chemical Corp. 98,760 2,167,636 Hanwha Corp. 47,620 1,802,446 Hanwha Life Insurance Co., Ltd. 204,320 1,366,221 Hite Jinro Co., Ltd. 22,640 555,726 # Hotel Shilla Co., Ltd. 31,278 2,020,508 Hyundai Department Store Co., Ltd. 17,135 2,728,457 Hyundai Engineering & Construction Co., Ltd. 77,500 4,446,185 Hyundai Glovis Co., Ltd. 11,990 2,658,328 # Hyundai Heavy Industries Co., Ltd. 44,760 10,688,559 Hyundai Hysco Co., Ltd. 35,114 1,390,074 Hyundai Marine & Fire Insurance Co., Ltd. 68,600 1,960,088 #* Hyundai Merchant Marine Co., Ltd. 47,685 617,006 Hyundai Mobis 70,280 19,824,583 Hyundai Motor Co. 158,812 37,835,980 Hyundai Steel Co. 70,734 5,824,103 Hyundai Wia Corp. 14,396 2,478,489 THE EMERGING MARKETS SERIES CONTINUED Shares Value++ ------- ------------ SOUTH KOREA -- (Continued) Industrial Bank of Korea 195,210 $ 2,255,001 # Kangwon Land, Inc. 114,660 3,150,952 KB Financial Group, Inc. 353,265 13,912,801 KB Financial Group, Inc. ADR 97,918 3,800,198 KCC Corp. 6,039 2,421,775 # KEPCO Engineering & Construction Co., Inc. 8,507 451,492 KEPCO Plant Service & Engineering Co., Ltd. 12,199 618,348 # Kia Motors Corp. 270,669 15,726,190 # Korea Aerospace Industries, Ltd. 35,900 947,386 * Korea Electric Power Corp. 197,690 5,279,505 Korea Gas Corp. 22,866 1,374,913 Korea Investment Holdings Co., Ltd. 32,780 1,278,863 Korea Zinc Co., Ltd. 9,259 2,684,088 * Korean Air Lines Co., Ltd. 31,881 1,016,863 KT Corp. 23,160 765,491 # KT&G Corp. 100,502 7,337,930 Kumho Petro chemical Co., Ltd. 15,006 1,468,977 LG Chem, Ltd. 47,843 13,495,647 LG Corp. 108,548 6,417,094 * LG Display Co., Ltd. 14,300 334,718 #* LG Display Co., Ltd. ADR 486,337 5,690,143 # LG Electronics, Inc. 113,853 7,292,964 # LG Household & Health Care, Ltd. 8,626 4,484,056 * LG Uplus Corp. 259,030 2,965,918 Lotte Chemical Corp. 21,503 4,405,953 Lotte Confectionery Co., Ltd. 263 451,000 Lotte Shopping Co., Ltd. 12,940 4,912,401 LS Corp. 17,345 1,296,403 Macquarie Korea Infrastructure Fund 200,980 1,250,062 # Mando Corp. 10,816 1,458,139 Naver Corp. 27,242 15,287,313 # NCSoft Corp. 14,464 2,803,631 # OCI Co., Ltd. 17,637 3,191,755 # Orion Corp/Republic of South Korea 3,321 3,238,551 POSCO 50,240 14,998,694 POSCO ADR 67,985 5,062,163 S-1 Corp. 16,316 973,019 S-Oil Corp. 47,441 3,461,862 Samsung C&T Corp. 143,779 8,531,551 Samsung Card Co., Ltd. 23,720 878,949 # Samsung Electro-Mechanics Co., Ltd. 57,281 4,393,962 Samsung Electronics Co., Ltd. 81,840 112,862,139 Samsung Electronics Co., Ltd. GDR 49,372 34,218,733 # Samsung Engineering Co., Ltd. 27,417 1,933,129 Samsung Fire & Marine Insurance Co., Ltd. 37,748 8,827,137 # Samsung Heavy Industries Co., Ltd. 168,600 6,182,114 Samsung Life Insurance Co., Ltd. 61,987 6,103,529 # Samsung SDI Co., Ltd. 39,230 6,539,296 Samsung Securities Co., Ltd. 68,528 3,037,852 Samsung Techwin Co., Ltd. 34,401 1,875,037 Shinhan Financial Group Co., Ltd. 374,876 16,345,946 Shinhan Financial Group Co., Ltd. ADR 86,082 3,730,794 THE EMERGING MARKETS SERIES CONTINUED Shares Value++ ---------- ------------ SOUTH KOREA -- (Continued) Shinsegae Co., Ltd. 6,575 $ 1,655,278 SK C&C Co., Ltd. 21,215 2,286,460 SK Holdings Co., Ltd. 29,943 5,426,863 * SK Hynix, Inc. 512,610 15,424,892 SK Innovation Co., Ltd. 69,006 9,671,813 SK Networks Co., Ltd. 5,020 31,514 SK Telecom Co., Ltd. 8,002 1,743,798 Woori Finance Holdings Co., Ltd. 419,590 4,970,990 # Woori Finance Holdings Co., Ltd. ADR 1,223 42,854 Woori Investment & Securities Co., Ltd. 147,510 1,557,884 Young Poong Corp. 176 234,109 ------------ TOTAL SOUTH KOREA 593,756,604 ------------ TAIWAN -- (12.3%) #* Acer, Inc. 3,542,040 2,314,230 Advanced Semiconductor Engineering, Inc. 6,439,929 6,341,065 Advanced Semiconductor Engineering, Inc. ADR 77,739 383,253 Advantech Co., Ltd. 273,200 1,751,109 Asia Cement Corp. 2,445,802 3,317,699 # Asustek Computer, Inc. 834,180 6,366,541 #* AU Optronics Corp. 7,260,873 2,374,972 * AU Optronics Corp. Sponsored ADR 326,626 1,032,138 # Catcher Technology Co., Ltd. 762,429 4,432,855 Cathay Financial Holding Co., Ltd. 8,634,048 13,043,972 Cathay Real Estate Development Co., Ltd. 839,000 585,059 Chang Hwa Commercial Bank 5,665,043 3,398,232 Cheng Shin Rubber Industry Co., Ltd. 2,017,965 5,380,955 Cheng Uei Precision Industry Co., Ltd. 384,109 805,525 Chicony Electronics Co., Ltd. 507,574 1,264,980 * China Airlines, Ltd. 3,543,536 1,283,623 China Development Financial Holding Corp. 16,637,121 4,972,731 China Life Insurance Co., Ltd. 2,999,797 2,943,938 China Motor Corp. 649,000 620,199 China Petrochemical Development Corp. 2,243,613 1,128,319 China Steel Chemical Corp. 148,000 886,819 # China Steel Corp. 12,562,895 10,917,997 # Chipbond Technology Corp. 575,000 1,161,939 Chunghwa Telecom Co., Ltd. 947,000 3,040,317 # Chunghwa Telecom Co., Ltd. ADR 236,502 7,530,224 Clevo Co. 526,075 1,118,509 Compal Electronics, Inc. 5,806,541 4,543,343 CTBC Financial Holding Co., Ltd. 14,872,997 10,088,839 CTCI Corp. 638,000 1,115,795 Delta Electronics, Inc. 1,873,366 9,742,390 # E.Sun Financial Holding Co., Ltd. 5,847,651 3,916,182 Eclat Textile Co., Ltd. 159,120 1,749,919 # Epistar Corp. 1,169,000 2,027,153 * Eva Airways Corp. 1,930,600 1,074,689 * Evergreen Marine Corp. Taiwan, Ltd. 2,269,249 1,335,078 Far Eastern Department Stores Co., Ltd. 1,110,993 1,195,001 Far Eastern New Century Corp. 3,475,335 3,991,931 Far EasTone Telecommunications Co., Ltd. 1,630,000 3,734,004 THE EMERGING MARKETS SERIES CONTINUED Shares Value++ ---------- ----------- TAIWAN -- (Continued) Farglory Land Development Co., Ltd. 394,229 $ 724,138 Feng Hsin Iron & Steel Co. 214,000 389,438 Feng TAY Enterprise Co., Ltd. 53,000 138,916 First Financial Holding Co., Ltd. 8,434,371 5,220,114 Formosa Chemicals & Fibre Corp. 3,500,518 10,117,665 Formosa International Hotels Corp. 31,460 378,831 Formosa Petrochemical Corp. 1,179,000 3,167,377 Formosa Plastics Corp. 4,268,153 11,598,832 Formosa Taffeta Co., Ltd. 848,000 1,053,975 Foxconn Technology Co., Ltd. 996,237 2,503,636 Fubon Financial Holding Co., Ltd. 7,497,233 10,987,630 Giant Manufacturing Co., Ltd. 274,506 2,060,129 # Gourmet Master Co., Ltd. 33,000 219,690 #* HannStar Display Corp. 3,348,000 1,121,007 Highwealth Construction Corp. 384,200 829,360 # Hiwin Technologies Corp. 174,173 1,371,908 Hon Hai Precision Industry Co., Ltd. 12,590,056 32,007,618 # Hotai Motor Co., Ltd. 235,000 2,795,579 # HTC Corp. 813,235 3,991,612 Hua Nan Financial Holdings Co., Ltd. 6,620,828 3,925,446 #* Innolux Corp. 8,365,341 3,317,575 * Inotera Memories, Inc. 1,642,000 1,058,805 Inventec Corp. 3,189,551 2,854,837 Kenda Rubber Industrial Co., Ltd. 532,481 1,046,963 Kinsus Interconnect Technology Corp. 289,000 1,031,794 Largan Precision Co., Ltd. 97,860 3,332,456 LCY Chemical Corp. 434,123 573,073 Lite-On Technology Corp. 2,310,358 4,044,631 # Lung Yen Life Service Corp. 117,000 354,160 #* Macronix International 4,110,218 960,823 # MediaTek, Inc. 1,249,995 17,089,840 Mega Financial Holding Co., Ltd. 10,462,000 9,058,925 Merida Industry Co., Ltd. 194,750 1,474,336 Nan Kang Rubber Tire Co., Ltd. 534,780 687,258 Nan Ya Plastics Corp. 4,851,599 11,065,717 Novatek Microelectronics Corp. 582,000 2,305,554 Oriental Union Chemical Corp. 248,000 263,738 # Pegatron Corp. 2,039,345 2,841,563 # Phison Electronics Corp. 146,000 1,049,236 Pou Chen Corp. 2,701,487 3,290,669 Powertech Technology, Inc. 929,819 1,675,656 President Chain Store Corp. 556,831 4,061,504 # Quanta Computer, Inc. 2,553,000 6,052,631 # Radiant Opto-Electronics Corp. 474,170 1,774,342 # Realtek Semiconductor Corp. 398,950 927,507 # Ruentex Development Co., Ltd. 699,351 1,463,704 # Ruentex Industries, Ltd. 496,937 1,282,238 Sanyang Industry Co., Ltd. 418,000 731,492 ScinoPharm Taiwan, Ltd. 245,440 816,569 # Shin Kong Financial Holding Co., Ltd. 8,569,708 2,980,368 Siliconware Precision Industries Co. 2,997,324 3,641,645 Siliconware Precision Industries Co. Sponsored ADR 67,173 402,366 THE EMERGING MARKETS SERIES CONTINUED Shares Value++ ---------- ------------ TAIWAN -- (Continued) Simplo Technology Co., Ltd. 298,000 $ 1,465,272 SinoPac Financial Holdings Co., Ltd. 7,945,105 3,931,743 St Shine Optical Co., Ltd. 42,000 1,236,997 Standard Foods Corp. 269,784 827,230 Synnex Technology International Corp. 1,493,756 2,383,034 Taishin Financial Holding Co., Ltd. 8,855,372 4,472,425 * Taiwan Business Bank 4,733,871 1,454,971 Taiwan Cement Corp. 4,100,720 5,968,142 Taiwan Cooperative Financial Holding 6,737,371 3,788,474 Taiwan FamilyMart Co., Ltd. 16,000 87,138 Taiwan Fertilizer Co., Ltd. 1,089,000 2,594,996 Taiwan Glass Industry Corp. 1,136,253 1,149,856 Taiwan Mobile Co., Ltd. 1,725,300 5,884,815 Taiwan Secom Co., Ltd. 49,000 118,743 # Taiwan Semiconductor Manufacturing Co., Ltd. 25,188,808 92,834,992 Teco Electric and Machinery Co., Ltd. 2,181,000 2,326,080 # Ton Yi Industrial Corp. 763,000 844,249 Transcend Information, Inc. 231,181 730,123 Tripod Technology Corp. 482,870 954,813 TSRC Corp. 633,300 1,170,961 U-Ming Marine Transport Corp. 551,860 906,256 Uni-President Enterprises Corp. 4,524,515 8,616,168 Unimicron Technology Corp. 1,848,896 1,462,342 # United Microelectronics Corp. 15,073,000 6,394,166 Vanguard International Semiconductor Corp. 834,000 901,496 * Walsin Lihwa Corp. 3,769,000 1,168,348 Wan Hai Lines, Ltd. 1,104,800 595,373 #* Wintek Corp. 1,832,760 684,604 # Wistron Corp. 3,015,444 2,830,976 WPG Holdings, Ltd. 1,645,869 2,001,870 * Yang Ming Marine Transport Corp. 1,741,300 772,204 Yuanta Financial Holding Co., Ltd. 10,373,577 5,656,796 Yulon Motor Co., Ltd. 1,075,000 1,897,486 Zhen Ding Technology Holding, Ltd. 247,700 580,935 ------------ TOTAL TAIWAN 489,720,474 ------------ THAILAND -- (2.6%) Advanced Info Service PCL 1,016,500 8,327,952 Airports of Thailand PCL 378,800 2,580,100 Bangkok Bank PCL(6368360) 605,300 4,006,162 Bangkok Bank PCL(6077019) 329,000 2,177,478 Bangkok Dusit Medical Services PCL 524,400 2,257,658 Bangkok Life Assurance PCL 435,800 882,101 Bank of Ayudhya PCL 2,590,200 3,183,137 Banpu PCL 1,185,500 1,104,562 BEC World PCL 645,300 1,207,670 Berli Jucker PCL 457,700 731,585 Big C Supercenter PCL(6368434) 255,200 1,598,843 Big C Supercenter PCL(6763932) 24,600 154,120 Bumrungrad Hospital PCL 239,000 668,048 Central Pattana PCL 1,159,900 1,788,761 Central Plaza Hotel PCL 290,900 366,838 THE EMERGING MARKETS SERIES CONTINUED Shares Value++ ---------- ------------ THAILAND -- (Continued) Charoen Pokphand Foods PCL 2,881,300 $ 2,249,497 CP ALL PCL 3,073,400 3,875,693 Delta Electronics Thailand PCL 429,500 658,912 Electricity Generating PCL 149,800 616,045 Glow Energy PCL 393,200 919,046 Home Product Center PCL 3,093,603 1,152,957 Indorama Ventures PCL 1,846,900 1,483,454 IRPC PCL 8,984,500 1,033,398 Jasmine International PCL 2,397,900 650,996 Kasikornbank PCL(6364766) 95,500 582,972 Kasikornbank PCL(6888794) 1,146,600 7,146,679 Krung Thai Bank PCL 5,908,587 3,853,633 Land and Houses PCL 3,400,100 1,201,642 Minor International PCL 1,438,700 1,282,696 Pruksa Real Estate PCL 483,900 346,698 PTT Exploration & Production PCL(B1359J0) 1,352,555 7,322,266 PTT Exploration & Production PCL(B1359L2) 65,409 354,102 PTT Global Chemical PCL 1,758,472 4,435,022 PTT PCL 1,015,400 10,341,584 Ratchaburi Electricity Generating Holding PCL 521,300 845,804 Robinson Department Store PCL 398,300 675,030 Siam Cement PCL(6609906) 124,800 1,764,241 Siam Cement PCL(6609928) 168,800 2,321,169 Siam City Cement PCL 94,913 1,213,667 Siam Commercial Bank PCL 1,160,966 6,135,868 Siam Global House PCL 956,200 586,777 Thai Airways International PCL 882,600 575,640 Thai Oil PCL 879,500 1,780,193 Thai Union Frozen Products PCL 452,560 817,879 TMB Bank PCL 19,864,000 1,748,670 Total Access Communication PCL(B1YWK08) 548,200 1,981,446 Total Access Communication PCL(B231MK7) 214,100 773,855 * True Corp. PCL 4,539,800 1,290,835 ------------ TOTAL THAILAND 103,053,381 ------------ TURKEY -- (1.9%) Akbank TAS 2,149,304 8,400,809 Anadolu Efes Biracilik Ve Malt Sanayii A.S. 224,564 2,859,777 Arcelik A.S. 270,945 1,725,393 # Aselsan Elektronik Sanayi Ve Ticaret A.S. 95,843 451,880 # BIM Birlesik Magazalar A.S. 207,155 4,334,075 Coca-Cola Icecek A.S. 64,801 1,853,182 * Dogan Yayin Holding A.S. 1 1 Enka Insaat ve Sanayi A.S. 458,239 1,339,836 Eregli Demir ve Celik Fabrikalari TAS 2,031,348 2,808,656 Ford Otomotiv Sanayi A.S. 74,222 1,042,001 KOC Holding A.S. 767,893 3,760,957 Koza Altin Isletmeleri A.S. 47,592 841,865 * Migros Ticaret A.S. 33,309 295,946 * Petkim Petrokimya Holding A.S. 80,883 127,319 TAV Havalimanlari Holding A.S. 170,054 1,230,461 Tofas Turk Otomobil Fabrikasi A.S. 132,651 876,940 THE EMERGING MARKETS SERIES CONTINUED Shares Value++ --------- -------------- TURKEY -- (Continued) Tupras Turkiye Petrol Rafinerileri A.S. 127,754 $ 2,887,807 # Turk Hava Yollari 1,063,361 4,146,235 # Turk Telekomunikasyon A.S. 563,410 1,941,472 Turk Traktor ve Ziraat Makineleri A.S. 8,237 270,988 #* Turkcell Iletisim Hizmetleri A.S. 681,855 4,231,342 * Turkcell Iletisim Hizmetleri A.S. ADR 73,838 1,154,826 Turkiye Garanti Bankasi A.S. 2,626,667 10,532,489 Turkiye Halk Bankasi A.S. 715,217 5,746,955 Turkiye Is Bankasi 1,910,546 5,219,387 Turkiye Sise ve Cam Fabrikalari A.S. 711,487 1,044,005 Turkiye Vakiflar Bankasi Tao 943,516 2,257,591 Ulker Biskuvi Sanayi A.S. 90,680 691,726 Yapi ve Kredi Bankasi A.S. 1,054,650 2,434,261 -------------- TOTAL TURKEY 74,508,182 -------------- TOTAL COMMON STOCKS 3,585,792,930 -------------- PREFERRED STOCKS -- (3.8%) BRAZIL -- (3.7%) AES Tiete SA 91,098 892,833 Banco Bradesco SA 2,244,395 32,334,852 Banco do Estado do Rio Grande do Sul SA Class B 200,100 1,441,427 * Braskem SA Class A 73,800 652,039 Centrais Eletricas Brasileiras SA Class B 125,500 650,879 Cia Brasileira de Distribuicao Grupo Pao de Acucar 41,100 2,041,851 * Cia de Bebidas das Americas 171,064 6,364,236 Cia de Gas de Sao Paulo Class A 13,227 350,318 * Cia de Transmissao de Energia Eletrica Paulista 30,889 440,629 Cia Energetica de Minas Gerais 467,267 4,157,056 Cia Energetica de Sao Paulo Class B 149,110 1,556,629 Cia Paranaense de Energia 32,400 452,958 * Empresa Nacional de Comercio Redito e Participacoes SA 380 7,718 Gerdau SA 836,068 6,597,506 Itau Unibanco Holding SA 2,568,240 39,737,954 Klabin SA 663,777 3,529,767 Lojas Americanas SA 416,467 3,095,622 Marcopolo SA 290,900 749,941 Oi SA 463,558 775,094 Petroleo Brasileiro SA 947,300 8,589,281 Suzano Papel e Celulose SA Class A 419,600 1,694,728 Telefonica Brasil SA 248,684 5,463,029 * Usinas Siderurgicas de Minas Gerais SA Class A 609,817 3,223,050 Vale SA 1,529,491 22,387,437 -------------- TOTAL BRAZIL 147,186,834 -------------- CHILE -- (0.0%) Embotelladora Andina SA Class B 9,255 52,088 -------------- COLOMBIA -- (0.1%) Avianca Holdings SA 75,566 169,513 Banco Davivienda SA 114,619 1,503,339 Bancolombia SA 10,827 151,619 THE EMERGING MARKETS SERIES CONTINUED Shares Value++ ----------- -------------- COLOMBIA -- (Continued) Grupo Aval Acciones y Valores 1,520,771 $ 1,056,788 Grupo de Inversiones Suramericana SA 41,562 825,815 -------------- TOTAL COLOMBIA 3,707,074 -------------- TOTAL PREFERRED STOCKS 150,945,996 -------------- RIGHTS/WARRANTS -- (0.0%) SOUTH KOREA -- (0.0%) * Hyundai Merchant Marine Co., Ltd. Rights 11/05/13 3,751 -- -------------- Shares/ Face Amount (000) Value+ ----------- -------------- SECURITIES LENDING COLLATERAL -- (6.1%) (S)@ DFA Short Term Investment Fund 21,089,023 244,000,000 @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $799,156 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $722,691) to be repurchased at $708,523 $ 709 708,521 -------------- TOTAL SECURITIES LENDING COLLATERAL 244,708,521 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $2,769,771,714) $3,981,447,447 ============== THE EMERGING MARKETS SMALL CAP SERIES SCHEDULE OF INVESTMENTS October 31, 2013 Shares Value++ --------- ----------- COMMON STOCKS -- (87.8%) ARGENTINA -- (0.0%) * Celulosa Argentina 1 $ 1 * Ferrum SA de Ceramica y Metalurgia 1 -- ----------- TOTAL ARGENTINA 1 ----------- BRAZIL -- (8.3%) Abril Educacao SA 196,623 2,808,877 Aliansce Shopping Centers SA 745,643 7,235,939 All America Latina Logistica SA 1,889,900 6,756,603 Alpargatas SA 100,394 570,913 Anhanguera Educacional Participacoes SA 2,379,735 14,230,629 Arezzo Industria e Comercio SA 397,935 5,919,095 Arteris SA 69,859 622,927 Autometal SA 285,059 2,164,730 * B2W Cia Digital 629,960 4,717,104 Banco Alfa de Investimento SA 500 1,428 Banco Mercantil do Brasil SA 1,327 9,170 Bematech SA 280,900 971,276 * BHG SA - Brazil Hospitality Group 155,302 1,134,883 Brasil Brokers Participacoes SA 1,107,611 2,877,866 Brasil Insurance Participacoes e Administracao SA 472,426 4,283,207 * BrasilAgro - Co. Brasileira de Propriedades Agricolas 40,600 183,468 * Brazil Pharma SA 711,000 2,638,122 * Brookfield Incorporacoes SA 1,364,667 852,216 CETIP SA - Mercados Organizados 423,659 4,681,994 Cia de Locacao das Americas 167,500 633,710 Cia de Saneamento de Minas Gerais-COPASA 475,121 7,708,550 Cia Hering 1,041,790 15,090,189 Cia Providencia Industria e Comercio SA 99,750 377,145 * Contax Participacoes SA 152,835 1,258,047 * CR2 Empreendimentos Imobiliarios SA 9,400 17,368 Cremer SA 114,546 799,576 CSU Cardsystem SA 8,900 11,882 Cyrela Commercial Properties SA Empreendimentos e Participacoes 46,800 421,041 Diagnosticos da America SA 2,097,741 10,768,045 Dimed SA Distribuidora da Medicamentos 300 29,270 Direcional Engenharia SA 670,009 3,879,914 EDP - Energias do Brasil SA 2,238,398 12,770,046 * Eneva SA 209,119 419,143 Equatorial Energia SA 1,308,435 13,571,943 Estacio Participacoes SA 2,460,804 19,001,453 Eternit SA 549,089 2,319,816 Even Construtora e Incorporadora SA 1,841,067 6,835,379 Ez Tec Empreendimentos e Participacoes SA 516,658 7,574,350 * Fertilizantes Heringer SA 131,400 503,207 Fleury SA 549,451 4,271,225 Forjas Taurus SA 35,969 44,787 * Gafisa SA 2,313,000 3,113,675 #* Gafisa SA ADR 1,094,820 2,945,066 * General Shopping Brasil SA 168,117 720,544 #* Gol Linhas Aereas Inteligentes SA ADR 195,800 1,012,286 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ---------- ----------- BRAZIL -- (Continued) Grendene SA 513,934 $ 4,633,453 Guararapes Confeccoes SA 32,100 1,433,300 Helbor Empreendimentos SA 1,145,093 4,554,321 * IdeiasNet SA 28,403 21,205 Iguatemi Empresa de Shopping Centers SA 606,900 6,977,608 * Industria de Bebidas Antarctica Polar SA 23,000 -- * Industrias Romi SA 125,500 350,396 * International Meal Co. Holdings SA 390,794 3,849,401 Iochpe-Maxion SA 641,608 7,809,540 JHSF Participacoes SA 782,247 1,945,172 Joao Fortes Engenharia SA 72,252 209,523 JSL SA 589,200 4,025,777 Kepler Weber SA 105,846 1,315,385 Kroton Educacional SA 59,172 874,294 Light SA 756,607 6,624,248 Localiza Rent a Car SA 408,452 6,657,993 * Log-in Logistica Intermodal SA 322,050 1,354,181 LPS Brasil Consultoria de Imoveis SA 571,540 3,993,923 M Dias Branco SA 19,441 912,038 Magnesita Refratarios SA 1,185,404 3,284,897 Mahle-Metal Leve SA Industria e Comercio 363,800 4,552,197 Marcopolo SA 28,000 69,921 * Marfrig Alimentos SA 1,809,559 3,658,755 Marisa Lojas SA 395,564 3,291,124 * Metalfrio Solutions SA 7,600 11,870 Mills Estruturas e Servicos de Engenharia SA 684,126 9,450,762 * Minerva SA 875,969 3,707,832 * MMX Mineracao e Metalicos SA 1,473,371 542,859 MRV Engenharia e Participacoes SA 2,831,833 12,175,228 Multiplus SA 373,684 4,603,314 Odontoprev SA 2,549,265 10,526,927 * Paranapanema SA 1,352,056 2,873,940 * PDG Realty SA Empreendimentos e Participacoes 11,912,853 10,700,850 * Plascar Participacoes Industriais SA 42,400 9,796 Portobello SA 146,700 324,689 Positivo Informatica SA 189,100 318,151 Profarma Distribuidora de Produtos Farmaceuticos SA 128,500 1,016,456 QGEP Participacoes SA 801,694 3,873,850 Raia Drogasil SA 379,275 2,768,500 Redentor Energia SA 7,800 17,514 * Refinaria de Petroleos de Manguinhos SA 221,289 29,827 Restoque Comercio e Confeccoes de Roupas SA 736,087 2,179,164 Rodobens Negocios Imobiliarios SA 150,738 914,992 * Rossi Residencial SA 3,233,729 3,967,147 Santos Brasil Participacoes SA 388,888 3,751,688 Sao Carlos Empreendimentos e Participacoes SA 47,859 838,087 Sao Martinho SA 420,562 5,923,292 SLC Agricola SA 371,218 3,444,326 Sonae Sierra Brasil SA 236,846 2,375,284 * Springs Global Participacoes SA 278,188 230,975 Sul America SA 1,675,809 12,241,484 * T4F Entretenimento SA 213,800 516,053 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ---------- ------------ BRAZIL -- (Continued) Technos SA 192,400 $ 1,492,038 * Tecnisa SA 1,078,756 4,470,392 Tegma Gestao Logistica 167,535 1,664,513 Tempo Participacoes SA 266,802 333,167 Tereos Internacional SA 428,383 565,050 Totvs SA 592,700 10,010,991 TPI - Triunfo Participacoes e Investimentos SA 255,201 1,172,167 Trisul SA 37,542 74,225 UNICASA Industria de Moveis SA 165,700 478,396 Valid Solucoes e Servicos de Seguranca em Meios de Pagamento e Identificacao S.A 363,250 5,585,318 * Vanguarda Agro SA 1,314,936 2,201,344 Via Varejo SA 53,803 720,512 * Viver Incorporadora e Construtora SA 790,989 106,522 ------------ TOTAL BRAZIL 379,366,248 ------------ CHILE -- (1.2%) * AquaChile SA 967,704 481,293 Banmedica SA 1,412,638 2,590,785 Besalco SA 2,143,635 3,014,367 Cementos BIO BIO SA 452,622 498,450 CFR Pharmaceuticals SA 2,301,492 583,573 Cia General de Electricidad SA 44,656 253,596 * Cia Pesquera Camanchaca SA 194,645 7,443 * Cia Sud Americana de Vapores SA 34,708,479 1,604,414 Cintac SA 324,650 88,750 Clinica LAS Condes SA 349 25,876 Cristalerias de Chile SA 156,836 1,335,873 Cruz Blanca Salud SA 1,629,752 1,111,652 E.CL SA 1,235,241 1,928,127 Empresa Electrica Pilmaiquen 46,897 222,781 Empresas Hites SA 1,245,628 1,016,327 Empresas Iansa SA 18,257,203 772,159 * Empresas La Polar SA 2,265,764 459,350 Enjoy SA 1,299,391 212,752 Forus SA 623,383 3,416,591 Gasco SA 126,150 1,343,340 Grupo Security SA 1,197,172 415,541 Inversiones Aguas Metropolitanas SA 2,369,141 4,404,245 Invexans SA 27,288,748 599,881 Latam Airlines Group SA 119,320 1,930,829 * Madeco SA 27,288,748 207,762 Masisa SA 13,451,218 992,026 Molibdenos y Metales SA 5,009 80,460 * Multiexport Foods SA 3,401,667 671,599 Parque Arauco SA 3,942,657 7,598,629 PAZ Corp. SA 932,240 529,198 Ripley Corp. SA 3,841,278 3,371,401 Salfacorp SA 1,851,976 2,105,380 Sigdo Koppers SA 524,501 875,353 Sociedad Matriz SAAM SA 20,281,523 2,030,582 Socovesa SA 2,895,998 821,730 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ---------- ----------- CHILE -- (Continued) Soquimich Comercial SA 472,478 $ 96,580 Vina Concha y Toro SA 3,097,218 5,686,019 Vina Concha y Toro SA Sponsored ADR 1,725 63,911 Vina San Pedro Tarapaca SA 40,093,814 238,602 ----------- TOTAL CHILE 53,687,227 ----------- CHINA -- (13.4%) # 361 Degrees International, Ltd. 2,057,000 589,082 Ajisen China Holdings, Ltd. 1,988,000 2,083,420 AMVIG Holdings, Ltd. 1,934,000 907,804 Anhui Expressway Co., Ltd. Class H 2,418,000 1,356,449 Anta Sports Products, Ltd. 3,936,000 5,635,637 # Anton Oilfield Services Group 4,904,000 3,108,079 Anxin-China Holdings, Ltd. 10,127,000 3,252,200 Asia Cement China Holdings Corp. 2,176,500 1,190,500 * Asia Energy Logistics Group, Ltd. 26,160,000 283,266 Asian Citrus Holdings, Ltd. 3,627,000 1,372,442 * Ausnutria Dairy Corp., Ltd. 365,000 68,735 * AVIC International Holdings, Ltd. 556,000 215,686 AviChina Industry & Technology Co., Ltd. Class H 8,290,788 3,935,740 # Baoxin Auto Group, Ltd. 810,000 835,566 Baoye Group Co., Ltd. Class H 1,860,000 1,345,816 * BaWang International Group Holding, Ltd. 3,546,000 212,680 BBMG Corp. Class H 162,500 116,175 Beijing Capital International Airport Co., Ltd. Class H 7,662,000 5,382,891 # Beijing Capital Land, Ltd. Class H 6,142,500 2,212,055 * Beijing Development HK, Ltd. 1,163,000 297,157 # Beijing Enterprises Water Group, Ltd. 13,727,660 6,108,070 Beijing Jingkelong Co., Ltd. Class H 377,749 131,635 Beijing Jingneng Clean Energy Co., Ltd. Class H 1,098,000 456,206 Beijing North Star Co., Ltd. Class H 2,408,000 540,984 * Beijing Properties Holdings, Ltd. 10,105,061 716,491 # Billion Industrial Holdings, Ltd. 240,500 130,933 Biostime International Holdings, Ltd. 593,000 4,553,860 Bloomage Biotechnology Corp., Ltd. 75,000 157,681 Boer Power Holdings, Ltd. 1,317,000 999,882 # Bosideng International Holdings, Ltd. 11,860,000 2,722,900 #* BYD Electronic International Co., Ltd. 3,864,815 1,813,913 C C Land Holdings, Ltd. 6,255,343 1,686,353 C.banner International Holdings, Ltd. 62,000 22,946 #* Carnival Group International Holdings, Ltd. 2,058,000 55,706 Carrianna Group Holdings Co., Ltd. 385,257 64,494 Central China Real Estate, Ltd. 2,902,626 948,535 * CGN Mining Co., Ltd. 4,825,000 429,664 Changshouhua Food Co., Ltd. 1,493,000 1,579,134 #* Chaoda Modern Agriculture Holdings, Ltd. 6,771,138 778,681 # Chaowei Power Holdings, Ltd. 2,063,000 876,009 * Chigo Holding, Ltd. 18,886,000 423,706 Chiho-Tiande Group, Ltd. 280,000 105,449 # China Aerospace International Holdings, Ltd. 9,854,500 1,130,789 China Agri-Industries Holdings, Ltd. 9,219,800 4,306,245 # China All Access Holdings, Ltd. 3,184,000 1,183,576 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ---------- ---------- CHINA -- (Continued) China Aoyuan Property Group, Ltd. 5,252,000 $1,074,861 China Automation Group, Ltd. 3,231,000 679,134 China BlueChemical, Ltd. 4,840,000 3,104,862 * China Chengtong Development Group, Ltd. 1,562,000 58,325 # China Datang Corp. Renewable Power Co., Ltd. Class H 9,709,000 1,964,800 China Dongxiang Group Co. 13,246,985 2,066,258 * China Energine International Holdings, Ltd. 3,442,000 279,519 China Everbright International, Ltd. 9,335,800 9,330,899 China Everbright, Ltd. 3,554,000 5,271,199 China Fiber Optic Network System Group, Ltd. 1,752,000 311,644 #* China Foods, Ltd. 3,338,000 1,516,110 China Gas Holdings, Ltd. 5,635,500 6,263,380 * China Glass Holdings, Ltd. 3,396,000 425,060 * China Green Holdings, Ltd. 2,088,000 239,603 #* China Haidian Holdings, Ltd. 8,160,000 768,520 China High Precision Automation Group, Ltd. 1,289,000 202,835 #* China High Speed Transmission Equipment Group Co., Ltd. 5,250,000 2,816,742 # China Hongqiao Group, Ltd. 3,110,000 1,960,513 China Household Holdings, Ltd. 3,730,000 505,159 * China Huiyuan Juice Group, Ltd. 2,661,500 1,781,527 # China ITS Holdings Co., Ltd. 3,756,000 983,149 China Lesso Group Holdings, Ltd. 3,782,000 2,419,190 China Lilang, Ltd. 1,990,000 1,286,420 # China Lumena New Materials Corp. 14,530,000 3,111,137 # China Medical System Holdings, Ltd. 4,204,500 3,786,493 #* China Metal Recycling Holdings, Ltd. 2,401,686 1,460,589 * China Mining Resources Group, Ltd. 14,950,000 184,309 #* China Modern Dairy Holdings, Ltd. 5,468,000 2,546,318 China Molybdenum Co., Ltd. Class H 116,000 47,327 # China National Materials Co., Ltd. 3,927,000 855,831 #* China New Town Development Co., Ltd. 6,403,148 594,014 # China Oil & Gas Group, Ltd. 16,920,000 2,728,002 China Outfitters Holdings, Ltd. 24,000 3,940 # China Overseas Grand Oceans Group, Ltd. 3,221,500 3,830,710 # China Power International Development, Ltd. 9,896,000 3,878,549 * China Power New Energy Development Co., Ltd. 23,080,000 1,175,973 #* China Precious Metal Resources Holdings Co., Ltd. 13,354,318 2,153,761 * China Properties Group, Ltd. 2,464,000 634,644 * China Public Procurement, Ltd. 15,668,000 848,818 China Qinfa Group, Ltd. 2,656,000 208,985 * China Rare Earth Holdings, Ltd. 5,968,000 915,911 China Resources Cement Holdings, Ltd. 2,014 1,345 #* China Rongsheng Heavy Industries Group Holdings, Ltd. 14,764,500 1,750,859 * China Ruifeng Renewable Energy Holdings, Ltd. 3,376,000 936,367 China Sanjiang Fine Chemicals Co., Ltd. 2,889,000 1,277,609 China SCE Property Holdings, Ltd. 3,937,200 910,704 # China Shanshui Cement Group, Ltd. 7,599,000 2,696,836 China Shineway Pharmaceutical Group, Ltd. 1,376,200 2,135,206 #* China Shipping Development Co., Ltd. Class H 8,656,000 4,886,094 # China Singyes Solar Technologies Holdings, Ltd. 2,426,200 2,629,231 China South City Holdings, Ltd. 8,764,000 2,738,366 China Starch Holdings, Ltd. 6,470,000 186,042 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ---------- ---------- CHINA -- (Continued) China Suntien Green Energy Corp., Ltd. Class H 5,846,000 $2,043,825 China Taifeng Beddings Holdings, Ltd. 1,500,000 330,545 * China Taiping Insurance Holdings Co., Ltd. 3,573,600 5,574,485 #* China Tian Lun Gas Holdings, Ltd. 499,500 450,910 China Tianyi Holdings, Ltd. 1,656,000 262,301 * China Tontine Wines Group, Ltd. 1,610,000 78,964 China Travel International Inv HK 14,349,900 2,776,494 * China Vanadium Titano - Magnetite Mining Co., Ltd. 5,311,000 834,988 China Water Affairs Group, Ltd. 5,682,000 2,132,185 * China WindPower Group, Ltd. 17,204,964 698,833 China Wireless Technologies, Ltd. 5,732,000 2,143,341 #* China Yurun Food Group, Ltd. 6,381,000 4,234,665 * China ZhengTong Auto Services Holdings, Ltd. 3,793,500 2,651,294 * China Zhongwang Holdings, Ltd. 6,878,400 2,245,031 #* Chinasoft International, Ltd. 4,104,000 1,201,718 #* ChinaVision Media Group, Ltd. 11,960,000 732,804 * Chinese People Holdings Co., Ltd. 6,172,000 145,001 * Chongqing Iron & Steel Co., Ltd. Class H 2,785,400 395,451 # Chongqing Machinery & Electric Co., Ltd. Class H 4,930,000 610,285 Chu Kong Petroleum & Natural Gas Steel Pipe Holdings, Ltd. 2,254,000 842,781 CIMC Enric Holdings, Ltd. 2,094,000 2,948,797 * Citic 21CN Co., Ltd. 5,441,200 337,331 * CITIC Dameng Holdings, Ltd. 274,000 22,240 * CITIC Resources Holdings, Ltd. 11,574,600 1,627,774 Clear Media, Ltd. 243,000 187,009 * Coastal Greenland, Ltd. 3,436,000 157,087 #* Comba Telecom Systems Holdings, Ltd. 2,461,577 809,339 * Comtec Solar Systems Group, Ltd. 2,114,000 462,963 Cosco International Holdings, Ltd. 2,703,000 1,166,436 # CP Pokphand Co., Ltd. 18,488,594 1,645,907 # CPMC Holdings, Ltd. 1,430,000 1,142,879 # CSPC Pharmaceutical Group, Ltd. 4,139,877 2,578,113 * DaChan Food Asia, Ltd. 1,725,955 215,959 # Dah Chong Hong Holdings, Ltd. 3,445,000 2,942,034 Dalian Port PDA Co., Ltd. Class H 4,986,000 1,157,090 # Daphne International Holdings, Ltd. 4,266,000 2,273,599 Dawnrays Pharmaceutical Holdings, Ltd. 1,358,943 673,489 #* DBA Telecommunication Asia Holdings, Ltd. 2,108,000 551,946 Digital China Holdings, Ltd. 3,218,800 4,235,162 Dongfang Electric Corp., Ltd. Class H 137,400 220,673 Dongjiang Environmental Co., Ltd. Class H 210,000 593,007 # Dongyue Group 5,029,000 2,367,336 #* Dynasty Fine Wines Group, Ltd. 1,614,000 299,776 Embry Holdings, Ltd. 473,000 293,002 EVA Precision Industrial Holdings, Ltd. 4,534,435 649,371 Evergreen International Holdings, Ltd. 1,246,000 244,433 * Extrawell Pharmaceutical Holdings, Ltd. 6,617,921 414,715 # Fantasia Holdings Group Co., Ltd. 8,451,000 1,448,446 # First Tractor Co., Ltd. Class H 3,351,176 2,393,680 # Franshion Properties China, Ltd. 13,522,300 4,714,898 Fufeng Group, Ltd. 5,262,600 2,240,766 * GCL-Poly Energy Holdings, Ltd. 12,832,000 3,920,581 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ---------- ---------- CHINA -- (Continued) Geely Automobile Holdings, Ltd. 2,780,000 $1,404,944 * Global Bio-Chem Technology Group Co., Ltd. 9,198,800 711,277 * Global Sweeteners Holdings, Ltd. 770,951 52,599 #* Glorious Property Holdings, Ltd. 13,214,501 2,113,502 Goldbond Group Holdings, Ltd. 210,000 8,703 # Golden Eagle Retail Group, Ltd. 2,334,000 3,459,806 # Golden Meditech Holdings, Ltd. 6,215,367 745,761 Goldlion Holdings, Ltd. 1,017,962 497,725 # GOME Electrical Appliances Holding, Ltd. 43,306,000 6,758,009 Good Friend International Holdings, Inc. 404,667 138,041 Goodbaby International Holdings, Ltd. 2,969,000 1,470,222 * Great Wall Technology Co., Ltd. Class H 1,902,950 549,801 Greatview Aseptic Packaging Co., Ltd. 1,388,000 874,701 Greenland Hong Kong Holdings, Ltd. 1,309,000 924,869 Greentown China Holdings, Ltd. 879,648 1,705,729 Guangdong Land Holdings, Ltd. 4,396,800 1,174,754 # Guangshen Railway Co., Ltd. Class H 3,990,000 2,102,733 Guangshen Railway Co., Ltd. Sponsored ADR 5,067 133,262 * Guangzhou Baiyunshan Pharmaceutical Holdings Co., Ltd. Class H 106,000 383,017 Guangzhou Shipyard International Co., Ltd. Class H 921,400 1,361,929 # Guodian Technology & Environment Group Co., Ltd. Class H 1,098,000 279,215 Haier Electronics Group Co., Ltd. 349,000 744,079 # Hainan Meilan International Airport Co., Ltd. Class H 720,000 760,403 Haitian International Holdings, Ltd. 2,189,000 5,276,517 #* Hanergy Solar Group, Ltd. 42,960,000 7,311,340 Harbin Electric Co., Ltd. Class H 3,099,413 1,946,221 Henderson Investment, Ltd. 596,000 46,887 * Heng Tai Consumables Group, Ltd. 14,673,193 270,738 # Hengdeli Holdings, Ltd. 11,125,399 2,640,631 #* Hi Sun Technology China, Ltd. 3,126,000 858,028 #* Hidili Industry International Development, Ltd. 5,079,000 843,420 # Hilong Holding, Ltd. 2,766,000 1,839,779 * Hisense Kelon Electrical Holdings Co., Ltd. Class H 1,906,000 1,791,196 # HKC Holdings, Ltd. 17,896,447 623,250 # Honghua Group, Ltd. 5,221,000 1,589,333 Hopefluent Group Holdings, Ltd. 281,670 107,818 # Hopewell Highway Infrastructure, Ltd. 3,920,000 1,931,462 * Hopson Development Holdings, Ltd. 3,476,000 4,262,890 HOSA International, Ltd. 94,000 34,920 # Hua Han Bio-Pharmaceutical Holdings, Ltd. 7,415,231 1,715,923 * Hua Lien International Holding Co., Ltd. 998,000 59,651 # Huabao International Holdings, Ltd. 8,548,014 3,751,003 # Huaneng Renewables Corp., Ltd. Class H 8,068,000 3,120,309 * Huili Resources Group, Ltd. 598,000 141,802 #* Hunan Nonferrous Metal Corp., Ltd. Class H 9,038,000 2,506,196 * Huscoke Resources Holdings, Ltd. 1,956,000 23,433 Hutchison Harbour Ring, Ltd. 7,098,000 558,303 Inspur International, Ltd. 10,280,000 424,238 * Interchina Holdings Co. 17,180,000 1,218,455 Intime Retail Group Co., Ltd. 4,317,500 5,111,397 #* Jinchuan Group International Resources Co., Ltd. 2,905,000 434,197 Jingwei Textile Machinery Class H 1,272,000 840,740 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ---------- ---------- CHINA -- (Continued) # Ju Teng International Holdings, Ltd. 3,622,000 $2,634,990 * Kai Yuan Holdings, Ltd. 11,240,000 275,652 * Kaisa Group Holdings, Ltd. 7,073,000 2,155,919 * Kasen International Holdings, Ltd. 222,000 41,052 Kingboard Chemical Holdings, Ltd. 3,127,921 8,140,723 Kingboard Laminates Holdings, Ltd. 4,300,000 1,773,657 #* Kingdee International Software Group Co., Ltd. 5,253,200 1,693,415 # Kingsoft Corp., Ltd. 3,169,000 7,862,517 KWG Property Holding, Ltd. 5,039,450 3,282,079 # Labixiaoxin Snacks Group, Ltd. 1,639,000 849,301 Lai Fung Holdings, Ltd. 26,020,440 653,780 Le Saunda Holdings, Ltd. 1,132,000 516,774 Lee & Man Chemical Co., Ltd. 934,785 421,731 Lee & Man Paper Manufacturing, Ltd. 7,511,000 5,377,247 #* Li Ning Co., Ltd. 3,947,500 3,594,215 # Lianhua Supermarket Holdings Co., Ltd. Class H 1,517,600 973,894 # Lijun International Pharmaceutical Holding Co., Ltd. 6,948,000 1,875,570 # Lingbao Gold Co., Ltd. Class H 1,424,000 311,785 * LK Technology Holdings, Ltd. 837,500 165,387 * Lonking Holdings, Ltd. 10,823,000 2,192,334 * Loudong General Nice Resources China Holdings, Ltd. 7,842,140 515,180 * Luoyang Glass Co., Ltd. Class H 284,000 51,273 #* Maanshan Iron & Steel Class H 7,700,000 1,965,937 # Magic Holdings International, Ltd. 2,003,600 1,584,255 Maoye International Holdings, Ltd. 5,611,000 1,077,336 # Microport Scientific Corp. 1,885,000 1,279,066 # MIE Holdings Corp. 3,484,000 746,456 MIN XIN Holdings, Ltd. 418,000 221,174 #* Mingfa Group International Co., Ltd. 4,888,000 1,323,690 * Mingyuan Medicare Development Co., Ltd. 510,000 12,178 Minmetals Land, Ltd. 5,756,000 823,997 Minth Group, Ltd. 2,653,000 5,549,660 #* MMG, Ltd. 7,134,000 1,589,974 * Nan Hai Corp., Ltd. 21,750,000 182,385 Nanjing Panda Electronics Co., Ltd. Class H 886,000 412,301 Nature Flooring Holding Co., Ltd. 453,000 82,411 # NetDragon Websoft, Inc. 320,044 736,568 New World China Land, Ltd. 430,000 236,651 # New World Department Store China, Ltd. 2,189,462 1,265,405 # Nine Dragons Paper Holdings, Ltd. 7,473,000 6,156,274 * North Mining Shares Co., Ltd. 19,560,000 870,709 NVC Lighting Holdings, Ltd. 5,561,000 1,355,309 O-Net Communications Group, Ltd. 1,308,000 247,868 Overseas Chinese Town Asia Holdings, Ltd. 764,183 344,984 Pacific Online, Ltd. 1,117,365 519,152 # Parkson Retail Group, Ltd. 4,105,000 1,403,938 * PAX Global Technology, Ltd. 1,141,000 484,107 # Peak Sport Products Co., Ltd. 2,750,000 631,358 * PetroAsian Energy Holdings, Ltd. 3,192,000 66,804 # Phoenix Satellite Television Holdings, Ltd. 5,384,000 1,896,151 # Poly Property Group Co., Ltd. 8,597,000 5,292,911 Ports Design, Ltd. 1,600,000 1,191,516 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ---------- ---------- CHINA -- (Continued) * Pou Sheng International Holdings, Ltd. 4,946,806 $ 261,353 Powerlong Real Estate Holdings, Ltd. 5,740,000 1,193,063 # Prince Frog International Holdings, Ltd. 883,000 530,734 * Prosperity International Holdings HK, Ltd. 5,020,000 191,064 Qingling Motors Co., Ltd. Class H 1,694,000 520,077 Qunxing Paper Holdings Co., Ltd. 669,913 174,369 * Real Gold Mining, Ltd. 300,500 54,263 Real Nutriceutical Group, Ltd. 3,141,000 814,251 Regent Manner International Holdings, Ltd. 2,844,000 491,308 #* Renhe Commercial Holdings Co., Ltd. 52,418,000 2,949,031 # REXLot Holdings, Ltd. 35,000,000 3,070,727 * Richly Field China Development, Ltd. 6,980,000 -- Road King Infrastructure, Ltd. 1,142,000 1,150,763 Royale Furniture Holdings, Ltd. 1,252,250 65,455 Samson Holding, Ltd. 3,281,000 456,593 Sany Heavy Equipment International Holdings Co., Ltd. 4,149,000 1,203,297 Sateri Holdings, Ltd. 119,500 23,162 #* Semiconductor Manufacturing International Corp. 94,444,000 6,986,736 Shandong Chenming Paper Holdings, Ltd. Class H 1,308,000 534,829 Shandong Molong Petroleum Machinery Co., Ltd. Class H 1,052,962 355,664 Shanghai Industrial Holdings, Ltd. 778,000 2,557,481 #* Shanghai Industrial Urban Development Group, Ltd. 6,934,000 1,718,132 Shanghai Jin Jiang International Hotels Group Co., Ltd. Class H 4,348,000 1,049,542 Shanghai Prime Machinery Co., Ltd. Class H 4,298,000 504,484 * Shanghai Zendai Property, Ltd. 8,390,000 164,957 Shengli Oil & Gas Pipe Holdings, Ltd. 4,506,000 244,334 # Shenguan Holdings Group, Ltd. 4,814,000 2,150,069 # Shenzhen Expressway Co., Ltd. Class H 3,242,400 1,371,848 Shenzhen International Holdings, Ltd. 44,424,276 5,442,561 Shenzhen Investment, Ltd. 12,530,912 5,014,207 Shenzhou International Group Holdings, Ltd. 1,630,000 5,588,663 * Shougang Concord Century Holdings, Ltd. 265,153 10,578 #* Shougang Concord International Enterprises Co., Ltd. 22,396,000 1,111,137 # Shougang Fushan Resources Group, Ltd. 21,052,000 7,061,956 Shui On Land, Ltd. 17,840,143 6,199,149 Sichuan Expressway Co., Ltd. Class H 3,964,000 1,181,183 Sihuan Pharmaceutical Holdings Group, Ltd. 8,615,000 6,419,025 * Sijia Group Co. 1,076,350 190,197 Silver Grant International 4,750,000 649,092 * SIM Technology Group, Ltd. 510,000 21,388 Sino Biopharmaceutical 13,536,000 9,497,013 * Sino Dragon New Energy Holdings, Ltd. 1,264,000 48,050 * Sino Oil And Gas Holdings, Ltd. 42,847,766 1,173,442 # Sino-Ocean Land Holdings, Ltd. 12,793,851 8,112,580 Sinofert Holdings, Ltd. 11,291,327 1,833,354 * Sinolink Worldwide Holdings, Ltd. 10,218,800 1,001,577 SinoMedia Holding, Ltd. 832,000 769,593 # Sinopec Kantons Holdings, Ltd. 3,946,000 3,599,817 #* Sinopec Yizheng Chemical Fibre Co., Ltd. Class H 4,164,000 1,153,625 #* Sinopoly Battery, Ltd. 23,980,000 1,144,319 Sinotrans Shipping, Ltd. 5,003,586 1,645,603 Sinotrans, Ltd. Class H 6,542,000 1,611,685 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ---------- ---------- CHINA -- (Continued) Sinotruk Hong Kong, Ltd. 2,735,000 $1,432,191 SITC International Holdings Co., Ltd. 1,181,000 500,868 Skyworth Digital Holdings, Ltd. 9,088,892 4,409,084 * SMI Corp., Ltd. 7,948,066 204,294 * Solargiga Energy Holdings, Ltd. 5,579,000 266,274 Sparkle Roll Group, Ltd. 6,616,000 444,130 Springland International Holdings, Ltd. 1,099,000 601,341 SPT Energy Group, Inc. 386,000 212,461 * SRE Group, Ltd. 15,994,346 576,766 # Sunac China Holdings, Ltd. 5,986,000 4,153,992 # Sunny Optical Technology Group Co., Ltd. 2,178,000 2,120,735 TCC International Holdings, Ltd. 4,185,098 1,549,040 * TCL Communication Technology Holdings, Ltd. 2,285,198 2,080,303 TCL Multimedia Technology Holdings, Ltd. 2,874,510 1,183,338 * Tech Pro Technology Development, Ltd. 3,416,000 1,647,566 Tenfu Cayman Holdings Co Ltd 2,000 994 # Texhong Textile Group, Ltd. 1,108,000 1,938,713 Tian An China Investment 1,383,000 1,141,493 Tian Shan Development Holding, Ltd. 1,196,000 399,495 Tiangong International Co., Ltd. 5,884,000 1,509,882 Tianjin Capital Environmental Protection Group Co., Ltd. Class H 1,572,000 636,722 #* Tianjin Development Hldgs, Ltd. 2,116,000 1,405,478 Tianjin Port Development Holdings, Ltd. 8,746,800 1,522,723 # Tianneng Power International, Ltd. 3,112,048 1,175,539 # Tomson Group, Ltd. 1,060,443 328,492 # Tong Ren Tang Technologies Co., Ltd. Class H 1,085,000 3,289,565 * Tonic Industries Holdings, Ltd. 1,208,000 359,058 * Tonly Electronics Holdings, Ltd. 287,451 169,438 # Towngas China Co., Ltd. 3,915,000 3,864,534 TPV Technology, Ltd. 3,319,964 702,489 Travelsky Technology, Ltd. Class H 3,840,090 3,284,429 Trigiant Group, Ltd. 502,000 190,361 * Trony Solar Holdings Co., Ltd. 1,757,000 142,772 # Truly International Holdings 5,411,573 3,453,901 # Uni-President China Holdings, Ltd. 998,000 994,578 #* United Energy Group, Ltd. 13,030,450 2,036,338 Vinda International Holdings, Ltd. 2,394,000 3,402,112 * VODone, Ltd. 13,697,600 1,183,546 Wanguo International Mining Group, Ltd. 10,000 5,003 # Wasion Group Holdings, Ltd. 2,256,000 1,413,389 Weiqiao Textile Co. Class H 2,212,000 1,348,850 Welling Holding, Ltd. 3,774,000 793,397 # West China Cement, Ltd. 12,022,000 1,797,757 * Winsway Coking Coal Holdings, Ltd. 6,108,000 464,282 * Winteam Pharmaceutical Group, Ltd. 2,036,000 916,617 Wumart Stores, Inc. Class H 1,520,000 2,531,278 Xiamen International Port Co., Ltd. Class H 5,166,000 699,893 Xiangyu Dredging Holdings, Ltd. 1,233,000 314,706 Xingda International Holdings, Ltd. 4,284,000 2,603,230 Xinhua Winshare Publishing and Media Co., Ltd. Class H 307,103 180,355 # Xinjiang Goldwind Science & Technology Co., Ltd. Class H 1,852,800 1,891,596 #* Xinjiang Xinxin Mining Industry Co., Ltd. Class H 3,167,598 497,464 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ---------- ------------ CHINA -- (Continued) Xiwang Property Holdings Co., Ltd. 3,103,178 $ 443,883 XTEP International Holdings 2,918,000 1,438,111 #* Yanchang Petroleum International, Ltd. 18,300,000 802,818 Yantai North Andre Juice Co. Class H 306,000 76,327 Yingde Gases Group Co., Ltd. 3,681,500 3,769,916 Yip's Chemical Holdings, Ltd. 1,332,000 1,119,329 Youyuan International Holdings, Ltd. 1,081,700 314,604 Yuanda China Holdings, Ltd. 5,726,000 486,922 Yuexiu Property Co., Ltd. 21,725,432 6,056,018 # Yuexiu Transport Infrastructure, Ltd. 2,788,018 1,463,105 Yuzhou Properties Co. 4,016,120 984,486 Zall Development Group, Ltd. 602,000 244,603 # Zhaojin Mining Industry Co., Ltd. 3,187,000 2,561,652 Zhejiang Expressway Co., Ltd. Class H 5,900,000 5,386,491 Zhengzhou Coal Mining Machinery Group Co., Ltd. Class H 383,800 231,616 * Zhong An Real Estate, Ltd. 2,231,400 442,775 # Zhongsheng Group Holdings, Ltd. 2,473,000 3,939,427 * Zhuguang Holdings Group Co., Ltd. 306,758 91,334 # Zhuzhou CSR Times Electric Co., Ltd. Class H 1,824,000 6,476,469 ------------ TOTAL CHINA 608,184,916 ------------ COLOMBIA -- (0.0%) Constructora Conconcreto SA 223,636 165,451 Empresa de Telecomunicaciones de Bogota 679,989 139,422 * Fabricato SA 13,706,296 103,937 Grupo Odinsa SA 38,440 175,508 Mineros SA 101,104 181,921 ------------ TOTAL COLOMBIA 766,239 ------------ HONG KONG -- (0.0%) * China Water Industry Group, Ltd. 1,192,000 222,818 * Coslight Technology International Group, Ltd. 382,000 220,320 * EC-Founder Holdings Co., Ltd. 28,000 3,457 * FU JI Food and Catering Services Holdings, Ltd. 185,780 38,843 * Newton Resources, Ltd. 442,000 32,500 Tibet 5100 Water Resources Holdings, Ltd. 144,000 55,899 World Wide Touch Technology Holdings, Ltd. 2,920,000 211,055 ------------ TOTAL HONG KONG 784,892 ------------ HUNGARY -- (0.0%) * Danubius Hotel and SpA P.L.C. 44,003 961,309 #* FHB Mortgage Bank P.L.C. 27,009 44,067 * PannErgy 139,592 189,653 ------------ TOTAL HUNGARY 1,195,029 ------------ INDIA -- (6.5%) * 3M India, Ltd. 5,535 297,791 * ABG Shipyard, Ltd. 125,715 596,934 * Advanta Ltd. 148,946 275,375 Agro Tech Foods, Ltd. 54,133 457,107 AIA Engineering, Ltd. 44,197 279,405 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ --------- ---------- INDIA -- (Continued) Ajanta Pharma, Ltd. 88,658 $1,276,618 Akzo Nobel India, Ltd. 67,372 913,603 Alembic Pharmaceuticals, Ltd. 454,040 1,466,411 Alembic, Ltd. 9,514 2,322 Allahabad Bank 720,193 1,073,269 * Alok Industries, Ltd. 5,145,694 665,376 Alstom India, Ltd. 123,147 698,133 Amara Raja Batteries, Ltd. 418,944 2,137,983 Amtek Auto, Ltd. 561,721 592,146 Amtek India, Ltd. 287,646 302,231 Anant Raj, Ltd. 1,147,745 1,033,626 Andhra Bank 622,304 593,810 * Andhra Pradesh Paper Mills 57,705 264,164 Apollo Hospitals Enterprise, Ltd. 97,353 1,431,777 Apollo Tyres, Ltd. 1,343,286 1,491,387 Arvind, Ltd. 1,340,968 2,320,144 * Asahi India Glass, Ltd. 257,301 182,264 Ashok Leyland, Ltd. 7,572,526 2,129,202 Asian Hotels East, Ltd. 4,536 10,097 Atul, Ltd. 47,893 294,145 Aurobindo Pharma, Ltd. 1,129,123 3,978,146 Automotive Axles, Ltd. 17,459 74,886 Bajaj Corp., Ltd. 186,590 743,455 Bajaj Electricals, Ltd. 210,674 566,183 Bajaj Finance, Ltd. 62,702 1,390,450 Bajaj Finserv, Ltd. 126,975 1,323,867 Bajaj Hindusthan, Ltd. 582,277 128,549 Bajaj Holdings and Investment, Ltd. 92,719 1,247,042 Balkrishna Industries, Ltd. 146,756 657,693 Ballarpur Industries, Ltd. 1,135,420 237,034 Balmer Lawrie & Co., Ltd. 56,620 284,992 Balrampur Chini Mills, Ltd. 939,117 626,512 Bank Of Maharashtra 849,337 544,100 Bannari Amman Sugars, Ltd. 15,663 191,399 BASF India, Ltd. 48,794 474,737 Bata India, Ltd. 145,561 2,161,823 BEML, Ltd. 23,278 71,200 Berger Paints India, Ltd. 749,837 2,797,193 Bharat Forge, Ltd. 664,519 3,222,917 Bhushan Steel, Ltd. 393,995 3,079,590 Biocon, Ltd. 489,923 2,753,495 Birla Corp., Ltd. 107,350 375,427 Blue Dart Express, Ltd. 21,966 1,005,725 Blue Star, Ltd. 153,266 377,293 Bombay Burmah Trading Co. 43,374 80,005 Bombay Dyeing & Manufacturing Co., Ltd. 785,565 873,424 * Bombay Rayon Fashions, Ltd. 17,322 53,826 Brigade Enterprises, Ltd. 43,783 39,760 Britannia Industries, Ltd. 230,022 3,509,936 Capital First, Ltd. 68,029 169,688 Carborundum Universal, Ltd. 329,688 607,887 Central Bank Of India 1,150,860 1,019,457 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ --------- ---------- INDIA -- (Continued) Century Plyboards India, Ltd. 137,796 $ 62,414 Century Textiles & Industries, Ltd. 298,556 1,327,464 CESC, Ltd. 541,425 3,283,872 Chambal Fertilizers & Chemicals, Ltd. 925,327 523,274 * Chennai Petroleum Corp., Ltd. 204,192 174,766 Cholamandalam Investment and Finance Co., Ltd. 71,956 267,487 City Union Bank, Ltd. 1,261,325 987,978 Clariant Chemicals India, Ltd. 37,911 362,579 Claris Lifesciences, Ltd. 95,636 274,926 CMC, Ltd. 60,897 1,336,782 * Core Education & Technologies, Ltd. 72,685 22,449 Coromandel International, Ltd. 493,394 1,779,778 Corp. Bank 206,338 961,118 Cox & Kings, Ltd. 204,677 305,700 Crompton Greaves, Ltd. 2,205,917 3,788,887 Dalmia Bharat, Ltd. 57,965 113,384 DB Corp., Ltd. 39,040 168,053 * DB Realty, Ltd. 790,475 785,017 DCM Shriram Consolidated 213,725 192,507 Deepak Fertilisers & Petrochemicals Corp., Ltd. 147,728 252,060 Delta Corp., Ltd. 535,652 763,547 * DEN Networks, Ltd. 343,697 827,356 Dena Bank 565,693 493,673 * Development Credit Bank, Ltd. 1,459,229 1,216,219 Dewan Housing Finance Corp., Ltd. 27,941 69,620 * Dish TV India, Ltd. 3,087,132 2,694,249 Dredging Corp. Of India, Ltd. 21,673 89,293 eClerx Services, Ltd. 33,430 540,399 Edelweiss Financial Services, Ltd. 350,535 173,769 * Educomp Solutions, Ltd. 153,577 59,595 Eicher Motors, Ltd. 48,396 3,116,201 EID Parry India, Ltd. 333,058 774,724 EIH, Ltd. 476,626 426,228 Elder Pharmaceuticals, Ltd. 41,972 215,476 Electrosteel Castings, Ltd. 126,195 27,885 Elgi Equipments, Ltd. 224,474 293,174 Emami, Ltd. 123,047 993,014 Engineers India, Ltd. 270,237 777,753 Entertainment Network India, Ltd. 48,584 253,226 * Era Infra Engineering, Ltd. 461,515 284,667 Eros International Media, Ltd. 193,747 497,228 Escorts, Ltd. 404,569 636,580 Ess Dee Aluminium, Ltd. 99,250 819,806 * Essar Oil, Ltd. 1,888,952 1,600,749 Essar Ports, Ltd. 417,957 414,939 * Essar Shipping, Ltd. 112,311 32,556 Essel Propack, Ltd. 100,852 70,376 FAG Bearings India, Ltd. 28,675 628,067 FDC, Ltd. 316,669 455,964 Federal Bank, Ltd. 3,805,760 5,105,046 * Federal-Mogul Goetze India, Ltd. 61,495 196,932 Finolex Cables, Ltd. 211,462 208,171 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ --------- ---------- INDIA -- (Continued) Finolex Industries, Ltd. 288,984 $ 605,610 * Firstsource Solutions, Ltd. 158,613 53,448 * Fortis Healthcare, Ltd. 691,308 1,103,026 * Fresenius Kabi Oncology, Ltd. 203,585 428,778 * Future Consumer Enterprise, Ltd. 651,339 62,184 * Future Lifestyle Fashions, Ltd. 21,868 25,264 Future Retail, Ltd. 2,575 3,184 Gammon India, Ltd. 105,203 22,718 Gateway Distriparks, Ltd. 272,978 505,407 Gillette India, Ltd. 12,677 430,317 * Gitanjali Gems, Ltd. 195,505 207,186 GMR Infrastructure, Ltd. 9,412,702 3,319,055 Godfrey Phillips India, Ltd. 3,364 143,450 Godrej Industries, Ltd. 212,412 1,017,127 Godrej Properties, Ltd. 141,925 844,598 * Gokul Refoils & Solvent, Ltd. 27,697 8,095 Graphite India, Ltd. 281,800 346,139 Gravita India, Ltd. 24,791 10,540 Great Eastern Shipping Co., Ltd. (The) 407,286 1,844,687 Greaves Cotton, Ltd. 497,355 485,077 Grindwell Norton, Ltd. 18,171 74,615 Gruh Finance, Ltd. 111,195 418,761 * GTL Infrastructure, Ltd. 1,914,832 49,884 Gujarat Alkalies & Chemicals, Ltd. 178,029 466,438 Gujarat Fluorochemicals, Ltd. 156,927 634,414 Gujarat Gas Co., Ltd. 49,046 230,504 Gujarat Industries Power Co., Ltd. 6,329 6,261 Gujarat Mineral Development Corp., Ltd. 511,414 855,675 Gujarat Narmada Valley Fertilizers & Chemicals, Ltd. 198,781 199,172 * Gujarat NRE Coke, Ltd. 1,687,048 357,233 * Gujarat Pipavav Port, Ltd. 935 760 Gujarat State Fertilisers & Chemicals, Ltd. 684,362 664,727 Gujarat State Petronet, Ltd. 1,082,636 985,639 Gulf Oil Corp., Ltd. 118,401 152,257 * GVK Power & Infrastructure, Ltd. 4,576,430 539,661 * Hathway Cable & Datacom, Ltd. 295,361 1,367,673 Havells India, Ltd. 371,251 4,475,025 * HCL Infosystems, Ltd. 690,722 264,052 HEG, Ltd. 60,181 168,511 * HeidelbergCement India, Ltd. 348,433 212,484 * Hexa Tradex, Ltd. 73,518 16,768 Hexaware Technologies, Ltd. 1,467,575 3,161,854 * Himachal Futuristic Communications, Ltd. 2,540,882 353,243 Hinduja Global Solutions, Ltd. 30,903 187,172 Hinduja Ventures, Ltd. 36,075 156,366 * Hindustan Construction Co., Ltd. 1,572,759 362,424 * Hindustan Oil Exploration Co., Ltd. 138,575 81,115 Hindustan Petroleum Corp., Ltd. 513,310 1,680,247 Honeywell Automation India, Ltd. 13,295 535,161 * Hotel Leela Venture, Ltd. 540,246 137,651 * Housing Development & Infrastructure, Ltd. 1,473,669 1,024,960 HSIL, Ltd. 84,508 112,062 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ --------- ---------- INDIA -- (Continued) HT Media, Ltd. 99,860 $ 134,350 ICRA, Ltd. 12,942 275,384 IDBI Bank, Ltd. 893,575 982,947 IL&FS Transportation Networks, Ltd. 80,383 141,235 India Cements, Ltd. 1,151,087 936,095 India Infoline, Ltd. 1,083,761 1,004,418 Indiabulls Housing Finance, Ltd. 357,294 1,228,108 Indian Bank 257,317 352,981 Indian Hotels Co., Ltd. 2,327,743 1,856,006 Indian Overseas Bank 1,192,092 988,248 Indo Rama Synthetics India 40,886 12,577 Indoco Remedies, Ltd. 92,250 121,988 Indraprastha Gas, Ltd. 468,548 2,097,484 Info Edge India, Ltd. 124,415 790,521 Infotech Enterprises, Ltd. 187,578 767,476 ING Vysya Bank, Ltd. 21,126 202,807 Ingersoll-Rand India, Ltd. 38,417 207,552 Ipca Laboratories, Ltd. 370,908 4,103,323 IRB Infrastructure Developers, Ltd. 985,772 1,288,189 * IVRCL, Ltd. 370,522 78,845 Jagran Prakashan, Ltd. 390,304 542,578 Jai Corp., Ltd. 209,493 170,862 Jain Irrigation Systems, Ltd. 1,786,745 1,944,486 Jaiprakash Associates, Ltd. 4,691,232 3,636,442 * Jaiprakash Power Ventures, Ltd. 4,754,186 1,423,613 Jammu & Kashmir Bank, Ltd. 148,932 3,181,065 Jaypee Infratech, Ltd. 1,534,242 447,045 JB Chemicals & Pharmaceuticals, Ltd. 31,979 52,792 JBF Industries, Ltd. 138,719 183,110 * Jet Airways India, Ltd. 159,407 883,248 Jindal Drilling & Industries, Ltd. 13,908 39,073 Jindal Poly Films, Ltd. 90,006 204,479 * Jindal Poly Investments and Finance Co., Ltd. 22,502 1,904 Jindal Saw, Ltd. 798,003 618,778 * Jindal Stainless, Ltd. 282,767 176,412 JK Cement, Ltd. 111,995 353,147 JK Lakshmi Cement, Ltd. 204,789 224,194 JM Financial, Ltd. 2,073,645 939,550 JSW Energy, Ltd. 960,161 724,346 JSW Steel, Ltd. 28,661 401,585 * Jubilant Foodworks, Ltd. 278,198 5,505,626 Jubilant Life Sciences, Ltd. 293,887 477,292 Jyothy Laboratories, Ltd. 383,555 1,161,674 Kajaria Ceramics, Ltd. 172,532 677,683 Kakinada Fertilizers, Ltd. 632,948 115,456 Kalpataru Power Transmission, Ltd. 140,279 177,208 Kansai Nerolac Paints, Ltd. 10,598 198,379 Karnataka Bank, Ltd. 1,085,634 1,792,773 Karur Vysya Bank, Ltd. 204,356 1,139,339 Kaveri Seed Co., Ltd. 31,121 805,415 KEC International, Ltd. 399,666 235,744 Kesoram Industries, Ltd. 135,165 133,741 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ --------- ---------- INDIA -- (Continued) Kewal Kiran Clothing, Ltd. 1,598 $ 24,754 Kirloskar Brothers, Ltd. 817 2,063 Kirloskar Oil Engines, Ltd. 218,179 530,781 KPIT Cummins Infosystems, Ltd. 732,821 1,739,757 KSB Pumps, Ltd. 27,708 108,422 * KSK Energy Ventures, Ltd. 53,677 52,123 Lakshmi Machine Works, Ltd. 19,503 746,318 Lakshmi Vilas Bank, Ltd. 238,720 284,416 * Lanco Infratech, Ltd. 3,460,422 345,682 * Mahanagar Telephone Nigam 462,353 108,019 Maharashtra Seamless, Ltd. 108,527 280,637 Mahindra & Mahindra Financial Services, Ltd. 454,445 2,097,918 Mahindra Holidays & Resorts India, Ltd. 45,208 159,187 Mahindra Lifespace Developers, Ltd. 61,546 428,733 Man Infraconstruction, Ltd. 25,035 48,610 Mandhana Industries, Ltd. 54,218 203,153 * Mangalore Refinery & Petrochemicals, Ltd. 104,167 67,832 Marico, Ltd. 323,452 1,109,663 MAX India, Ltd. 749,232 2,301,387 McLeod Russel India, Ltd. 298,850 1,332,622 * Mercator, Ltd. 612,469 125,262 Merck, Ltd. 20,801 189,632 MindTree, Ltd. 84,680 1,908,264 MOIL, Ltd. 158,280 601,590 Monnet Ispat & Energy, Ltd. 75,091 159,420 Monsanto India, Ltd. 25,633 291,960 Motherson Sumi Systems, Ltd. 942,233 4,115,996 Motilal Oswal Financial Services, Ltd. 4,879 5,585 Mphasis, Ltd. 214,064 1,473,240 MRF, Ltd. 9,265 2,359,746 * Nagarjuna Oil Refinery, Ltd. 575,408 39,850 Nahar Capital and Financial Services, Ltd. 6,766 5,111 Nahar Polyfilms, Ltd. 24,000 4,677 Natco Pharma, Ltd. 89,514 982,272 National Aluminium Co., Ltd. 36,830 21,968 Nava Bharat Ventures, Ltd. 13,117 33,285 Navneet Education, Ltd. 383,995 338,824 NCC, Ltd. 1,258,711 532,097 NESCO, Ltd. 38,589 441,874 NIIT Technologies, Ltd. 232,343 1,055,331 NIIT, Ltd. 167,888 54,224 Nitin Fire Protection Industries, Ltd. 618,739 612,517 Noida Toll Bridge Co., Ltd. 158,808 53,293 Oberoi Realty, Ltd. 72,388 222,282 OCL India, Ltd. 51,578 117,703 OMAXE, Ltd. 384,234 878,387 Orchid Chemicals & Pharmaceuticals, Ltd. 96,250 76,464 Orient Cement Ltd. 351,095 214,701 Orient Paper & Industries, Ltd. 139,559 17,584 Oriental Bank of Commerce 543,785 1,594,479 Orissa Minerals Development Co., Ltd. 6,645 229,939 * Oswal Chemicals & Fertilizers 29,723 10,632 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ --------- ---------- INDIA -- (Continued) Page Industries, Ltd. 18,538 $1,350,777 * Panacea Biotec, Ltd. 45,996 79,447 * Parsvnath Developers, Ltd. 602,762 256,812 Peninsula Land, Ltd. 357,947 178,697 Persistent Systems, Ltd. 62,419 824,480 * Peter England Fashions and Retail, Ltd. 515 849 Petronet LNG, Ltd. 53,993 108,481 Pfizer, Ltd. 17,895 313,461 Phoenix Mills, Ltd. 158,394 602,549 PI Industries, Ltd. 27,020 90,688 Pidilite Industries, Ltd. 658,148 3,082,255 * Pipavav Defence & Offshore Engineering Co., Ltd. 1,532,809 1,283,985 Piramal Enterprises, Ltd. 237,828 2,177,078 * Plethico Pharmaceuticals, Ltd. 68,473 38,494 Polaris Financial Technology, Ltd. 331,305 772,170 Praj Industries, Ltd. 78,749 49,134 Prestige Estates Projects, Ltd. 503,561 1,173,025 * Prime Focus, Ltd. 113,893 59,261 * Prism Cement, Ltd. 594,068 258,325 Procter & Gamble Hygiene & Health Care, Ltd. 4,185 187,451 PTC India Financial Services, Ltd. 583,539 106,229 PTC India, Ltd. 1,436,908 1,308,637 * Punj Lloyd, Ltd. 1,344,331 615,731 Punjab & Sind Bank 252,456 181,764 Radico Khaitan, Ltd. 450,833 1,067,575 Rain Industries, Ltd. 546,486 322,009 Rajesh Exports, Ltd. 106,849 166,194 Rallis India, Ltd. 510,278 1,318,796 Ramco Cements, Ltd. (The) 423,183 1,221,414 Raymond, Ltd. 245,800 1,067,035 Redington India, Ltd. 799,018 803,894 REI Agro, Ltd. 3,516,058 365,713 Rolta India, Ltd. 724,825 740,411 Ruchi Soya Industries, Ltd. 516,585 293,825 S Mobility, Ltd. 70,822 42,757 Sadbhav Engineering, Ltd. 115,302 119,060 Sanofi India, Ltd. 24,044 960,325 * Sanwaria Agro Oils, Ltd. 161,301 44,435 * Schneider Electric Infrastructure, Ltd. 252,369 264,224 * Shipping Corp. of India, Ltd. 1,026,945 579,556 Shoppers Stop, Ltd. 156,909 873,134 Shree Cement, Ltd. 7,192 518,470 Shree Renuka Sugars, Ltd. 3,517,973 1,292,576 Sintex Industries, Ltd. 951,753 506,961 * SITI Cable Network, Ltd. 246,036 70,865 SJVN, Ltd. 530,895 166,042 SKF India, Ltd. 76,599 746,121 Sobha Developers, Ltd. 342,053 1,725,667 Solar Industries India, Ltd. 25,815 418,132 South Indian Bank, Ltd. 2,020,693 695,015 SREI Infrastructure Finance, Ltd. 223,216 74,730 SRF, Ltd. 111,948 298,093 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ---------- ---------- INDIA -- (Continued) * Star Ferro and Cement, Ltd. 137,796 $ 51,571 State Bank of Bikaner & Jaipur 68,999 363,875 * Sterling Biotech, Ltd. 305,767 25,922 Sterlite Technologies, Ltd. 745,823 251,978 Strides Arcolab, Ltd. 338,221 4,800,945 Styrolution ABS India, Ltd. 23,441 146,721 * Sun Pharma Advanced Research Co., Ltd. 611,693 1,298,261 Sundaram Finance, Ltd. 34,562 298,151 Sundaram-Clayton, Ltd. 3,890 18,282 Sundram Fasteners, Ltd. 283,916 166,704 Supreme Industries, Ltd. 179,336 1,141,915 Supreme Petrochem, Ltd. 103,075 96,772 * Surana Industries, Ltd. 14,879 18,182 * Suzlon Energy, Ltd. 7,128,765 1,112,542 Swaraj Engines, Ltd. 3,100 24,981 Syndicate Bank 1,134,602 1,512,248 Tata Chemicals, Ltd. 421,074 1,837,563 Tata Communications, Ltd. 498,486 2,143,022 Tata Elxsi, Ltd. 51,574 182,374 Tata Global Beverages, Ltd. 1,757,293 4,688,806 Tata Investment Corp., Ltd. 26,714 175,023 * Tata Teleservices Maharashtra, Ltd. 2,634,052 301,154 Tech Mahindra, Ltd. 170,401 4,295,227 Techno Electric & Engineering Co., Ltd. 55,792 73,549 Texmaco Rail & Engineering, Ltd. 112,853 55,249 Thermax, Ltd. 210,007 2,154,122 Time Technoplast, Ltd. 99,668 55,115 Timken India, Ltd. 42,048 106,897 Titagarh Wagons, Ltd. 10,598 16,516 Torrent Pharmaceuticals, Ltd. 351,812 2,550,603 Torrent Power, Ltd. 363,939 495,927 Trent, Ltd. 44,342 664,013 Triveni Turbine, Ltd. 179,367 153,274 TTK Prestige, Ltd. 31,862 1,709,445 Tube Investments of India, Ltd. 428,458 1,020,790 * Tulip Telecom, Ltd. 73,866 9,039 * TV18 Broadcast, Ltd. 2,794,097 1,054,421 TVS Motor Co., Ltd. 1,379,292 1,140,762 UCO Bank 1,508,995 1,782,068 Uflex, Ltd. 11,351 12,420 Unichem Laboratories, Ltd. 226,126 658,496 Union Bank of India 406,464 816,496 * Unitech, Ltd. 12,550,150 3,566,786 United Bank of India 442,904 243,336 UPL, Ltd. 1,843,739 4,916,877 Usha Martin, Ltd. 643,299 263,488 * Uttam Galva Steels, Ltd. 95,387 90,711 V-Guard Industries, Ltd. 84,617 671,555 Vakrangee Software, Ltd. 374,075 409,723 * Vardhman Special Steels, Ltd. 15,258 3,499 Vardhman Textiles, Ltd. 79,246 458,191 Vesuvius India, Ltd. 1,802 11,213 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ----------- ------------ INDIA -- (Continued) * Videocon Industries, Ltd. 577,596 $ 1,630,706 Vijaya Bank 1,144,972 769,322 VIP Industries, Ltd. 74,251 68,840 Voltas, Ltd. 993,937 1,444,865 VST Industries, Ltd. 15,968 379,632 WABCO India, Ltd. 8,387 229,493 Welspun Corp., Ltd. 706,339 488,498 Wockhardt, Ltd. 46,231 335,309 Wyeth, Ltd. 39,587 408,988 Zensar Technologies, Ltd. 104,999 460,071 Zuari Agro Chemicals, Ltd. 42,970 65,811 Zuari Global, Ltd. 32,457 27,755 Zydus Wellness, Ltd. 65,928 606,199 ------------ TOTAL INDIA 294,353,584 ------------ INDONESIA -- (3.2%) Ace Hardware Indonesia Tbk PT 21,556,500 1,166,181 Adhi Karya Persero Tbk PT 8,423,000 1,455,691 * Agis Tbk PT 12,930,500 516,029 Agung Podomoro Land Tbk PT 33,252,000 824,420 AKR Corporindo Tbk PT 13,595,200 5,842,868 Alam Sutera Realty Tbk PT 78,688,000 4,243,244 Aneka Tambang Persero Tbk PT 27,240,000 3,860,411 Arwana Citramulia Tbk PT 14,106,500 1,125,995 Asahimas Flat Glass Tbk PT 983,000 719,926 Astra Graphia Tbk PT 2,211,000 325,469 * Bakrie and Brothers Tbk PT 319,498,500 1,417,159 * Bakrie Sumatera Plantations Tbk PT 69,505,000 308,387 * Bakrie Telecom Tbk PT 80,514,398 356,684 * Bakrieland Development Tbk PT 204,925,750 909,668 Bank Bukopin Tbk PT 24,854,666 1,431,769 * Bank Pan Indonesia Tbk PT 16,708,000 1,064,492 Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT 15,554,000 1,258,212 * Bank Permata Tbk PT 293,000 37,010 Bank Tabungan Negara Persero Tbk PT 23,216,749 1,998,316 * Barito Pacific Tbk PT 11,044,500 470,417 * Benakat Petroleum Energy Tbk PT 82,467,500 870,035 * Berau Coal Energy Tbk PT 31,804,500 510,777 * Berlian Laju Tanker Tbk PT 35,106,366 -- Bisi International PT 8,733,000 471,870 * Borneo Lumbung Energi & Metal Tbk PT 24,410,000 475,665 * Budi Starch & Sweetener Tbk PT 5,947,000 50,097 * Bumi Resources Minerals Tbk PT 3,718,000 77,403 Bumi Serpong Damai PT 555,200 77,017 BW Plantation Tbk PT 11,348,000 935,481 * Central Proteinaprima Tbk PT 21,920,000 97,237 * Chandra Asri Petrochemical Tbk PT 13,500 3,960 Charoen Pokphand Indonesia Tbk PT 6,711,500 2,319,587 Ciputra Development Tbk PT 59,766,080 5,453,158 Ciputra Property Tbk PT 18,522,000 1,292,938 Ciputra Surya Tbk PT 6,071,500 1,221,506 * Citra Marga Nusaphala Persada Tbk PT 12,250,000 3,448,748 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ----------- ---------- INDONESIA -- (Continued) Clipan Finance Indonesia Tbk PT 1,482,000 $ 55,367 * Darma Henwa Tbk PT 72,303,600 320,708 * Davomas Abadi Tbk PT 37,629,500 -- * Delta Dunia Makmur Tbk PT 31,079,000 239,384 Elnusa Tbk PT 6,082,500 167,173 * Energi Mega Persada Tbk PT 229,631,000 1,628,566 * Ever Shine Textile Tbk PT 3,654,640 55,115 * Exploitasi Energi Indonesia Tbk PT 50,011,000 1,153,340 * Fajar Surya Wisesa Tbk PT 672,500 119,237 Gajah Tunggal Tbk PT 11,176,500 2,278,091 * Garda Tujuh Buana Tbk PT 214,000 18,805 * Garuda Indonesia Persero Tbk PT 27,753,000 1,205,796 * Golden Eagle Energy Tbk PT 98,500 50,616 * Gozco Plantations Tbk PT 12,307,700 126,613 * Hanson International Tbk PT 30,099,500 1,414,432 Harum Energy Tbk PT 4,305,500 1,200,671 Hexindo Adiperkasa Tbk PT 1,326,000 370,441 Holcim Indonesia Tbk PT 5,818,000 1,328,689 * Indah Kiat Pulp & Paper Corp. Tbk PT 16,731,500 2,283,181 Indika Energy Tbk PT 10,721,500 741,138 * Indo-Rama Synthetics Tbk PT 485,000 47,467 * Inovisi Infracom Tbk PT 1,536,167 104,862 Intiland Development Tbk PT 27,837,532 912,316 Japfa Comfeed Indonesia Tbk PT 24,470,000 3,036,716 Jaya Real Property Tbk PT 9,837,500 767,881 Kawasan Industri Jababeka Tbk PT 112,345,945 2,436,548 * Krakatau Steel Persero Tbk PT 11,548,000 573,437 * Lippo Cikarang Tbk PT 2,907,500 1,736,155 Malindo Feedmill Tbk PT 7,671,000 2,293,712 Matahari Putra Prima Tbk PT 12,660,128 2,693,051 Mayora Indah Tbk PT 3,284,750 8,523,530 Medco Energi Internasional Tbk PT 9,957,000 2,163,637 Media Nusantara Citra Tbk PT 853,485 189,018 Mitra Adiperkasa Tbk PT 7,113,000 3,405,953 * Mitra International Resources Tbk PT 4,604,500 24,081 MNC Investama Tbk PT 114,931,400 3,565,720 Modern Internasional Tbk PT 4,017,800 304,589 * Modernland Realty Tbk PT 8,759,000 629,021 Multipolar Corp. Tbk PT 37,781,500 1,356,041 * Multistrada Arah Sarana Tbk PT 6,875,500 225,306 Nippon Indosari Corpindo Tbk PT 765,000 420,461 Nusantara Infrastructure Tbk PT 47,541,000 1,075,445 Pabrik Kertas Tjiwi Kimia Tbk PT 557,500 95,668 Pakuwon Jati Tbk PT 70,747,200 1,941,311 * Pan Brothers Tbk PT 207,000 10,828 * Panasia Indo Resources Tbk PT 79,000 2,908 * Panin Financial Tbk PT 98,786,000 1,750,983 Panin Insurance Tbk PT 8,124,500 512,984 Panin Sekuritas Tbk PT 31,500 12,360 Pembangunan Perumahan Persero Tbk PT 14,755,500 1,712,201 Perusahaan Perkebunan London Sumatra Indonesia Tbk PT 19,095,000 2,707,697 Petrosea Tbk PT 3,520,500 418,467 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ----------- ------------ INDONESIA -- (Continued) * Polaris Investama Tbk PT 2,730,500 $ 202,896 * Polychem Indonesia Tbk PT 5,091,000 135,327 * PT Texmaco Jaya Tbk 93,000 -- Ramayana Lestari Sentosa Tbk PT 23,532,000 2,566,978 Resource Alam Indonesia Tbk PT 2,489,000 562,331 Salim Ivomas Pratama Tbk PT 7,426,000 526,569 * Samindo Resources Tbk PT 475,750 26,604 Sampoerna Agro PT 5,147,500 811,947 Samudera Indonesia Tbk PT 142,500 40,804 Selamat Sempurna Tbk PT 5,414,500 1,344,525 * Sentul City Tbk PT 198,365,500 3,777,425 Sinar Mas Agro Resources and Technology Tbk PT 1,037,460 598,014 * Sugih Energy Tbk PT 50,950,000 2,077,840 Summarecon Agung Tbk PT 67,493,064 6,275,853 * Sunson Textile Manufacturer Tbk PT 2,325,500 22,877 Surabaya Agung Industri Pulp & Kertas Tbk PT 64,500 1,144 * Surya Dumai Industri Tbk 3,298,500 -- Surya Semesta Internusa Tbk PT 30,722,000 2,178,226 * Suryainti Permata Tbk PT 7,252,000 -- Tiga Pilar Sejahtera Food Tbk 15,893,000 1,859,577 Timah Persero Tbk PT 14,327,500 2,056,896 * Tiphone Mobile Indonesia Tbk PT 625,000 37,114 Total Bangun Persada Tbk PT 10,659,500 699,049 * Tower Bersama Infrastructure Tbk PT 1,804,000 911,637 * Trada Maritime Tbk PT 38,168,513 5,145,529 Trias Sentosa Tbk PT 38,725,600 1,031,045 * Trimegah Securities Tbk PT 9,740,000 57,951 * Truba Alam Manunggal Engineering PT 21,316,500 94,551 Tunas Baru Lampung Tbk PT 11,087,000 471,794 Tunas Ridean Tbk PT 13,838,000 699,454 * Ultrajaya Milk Industry & Trading Co. Tbk PT 3,595,500 1,569,668 Unggul Indah Cahaya Tbk PT 48,239 8,088 * Visi Media Asia Tbk PT 1,179,000 25,077 Wijaya Karya Persero Tbk PT 16,679,500 2,838,271 ------------ TOTAL INDONESIA 145,700,605 ------------ ISRAEL -- (0.0%) * Feuchtwanger Investments, Ltd. 4,200 -- * Knafaim Holdings, Ltd. 21,977 42,022 * Metis Capital, Ltd. 919 -- ------------ TOTAL ISRAEL 42,022 ------------ MACEDONIA -- (0.0%) * Daeho International Corp. 543 -- * Hankook Synthetics, Inc. 550 -- * ZeroOne Interactive Co., Ltd. 3,200 -- ------------ TOTAL MACEDONIA -- ------------ MALAYSIA -- (5.7%) Adventa Bhd 4,600 1,456 Aeon Co. M Bhd 1,071,100 5,425,664 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ---------- ---------- MALAYSIA -- (Continued) Aeon Credit Service M Bhd 46,800 $ 240,799 Affin Holdings Bhd 1,147,100 1,549,342 Alam Maritim Resources Bhd 3,550,800 1,787,796 Allianz Malaysia Bhd 3,600 11,754 Amway Malaysia Hldgs 399,300 1,573,534 * Ann Joo Resources Bhd 1,116,650 424,539 * Anson Perdana Berhad. 10,000 -- APM Automotive Holdings Bhd 459,000 834,652 Benalec Holdings BHD 3,915,600 1,477,160 Berjaya Assets BHD 810,100 217,895 Berjaya Corp. Bhd 17,299,200 2,958,580 Berjaya Land Bhd 3,734,000 999,955 BIMB Holdings Bhd 2,694,600 4,113,273 Bintulu Port Holdings Bhd 25,900 60,780 BLD Plantation Bhd 21,400 57,644 Bonia Corp. Bhd 21,400 23,098 * Borneo Aqua Harvest Bhd 757,100 316,624 * Boustead Heavy Industries Corp. Bhd 5,400 4,530 Boustead Holdings Bhd 999,572 1,656,752 Bursa Malaysia Bhd 3,510,700 8,945,447 Cahya Mata Sarawak Bhd 1,012,300 1,635,333 Can-One Bhd 452,200 501,467 Carlsberg Brewery Malaysia Bhd Class B 1,041,100 4,221,456 Carotech Berhad 230,650 1,462 CB Industrial Product Holding Bhd 1,242,620 1,153,759 Chin Teck Plantations BHD 33,000 98,313 Coastal Contracts Bhd 1,270,566 1,413,182 CSC Steel Holdings Bhd 564,800 236,167 * Cycle & Carriage Bintang BHD 15,000 11,837 Cypark Resources Bhd 1,096,500 736,301 * D&O Green Technologies Bhd 149,900 15,689 Daibochi Plastic & Packaging Industry Bhd 46,200 52,156 * Datuk Keramik Holdings Berhad 24,000 -- Daya Materials Bhd 7,393,800 936,921 Dayang Enterprise Holdings Bhd 1,401,831 2,436,058 DRB-Hicom Bhd 6,363,800 5,121,046 Dutch Lady Milk Industries BHD 140,200 2,065,985 Eastern & Oriental Bhd 5,725,000 3,644,165 ECM Libra Financial Group Bhd 367,466 122,321 Eng Kah Corp. Bhd 21,890 19,066 Evergreen Fibreboard Bhd 1,239,400 186,526 Eversendai Corp. Bhd 1,025,700 481,181 Faber Group BHD 1,699,700 1,412,929 FAR East Holdings BHD 61,500 146,079 * Fountain View Development Berhad 808,200 -- Fraser & Neave Holdings Bhd 138,600 817,617 George Kent Malaysia BHD 34,200 11,482 Globetronics Technology BHD 1,731,760 1,656,931 Glomac Bhd 2,626,000 940,181 * Golden Plus Holding BHD 216,000 -- * Goldis BHD 586,677 369,807 Guan Chong Bhd 212,100 104,847 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ --------- ---------- MALAYSIA -- (Continued) Guinness Anchor Bhd 806,500 $4,420,011 GuocoLand Malaysia Bhd 1,309,200 468,664 Hai-O Enterprise BHD 722,380 638,704 HAP Seng Consolidated Bhd 5,774,540 4,482,374 Hap Seng Plantations Holdings Bhd 1,608,500 1,350,301 Hartalega Holdings Bhd 1,461,900 3,350,800 Hiap Teck Venture Bhd 428,300 97,737 * HO WAH Genting BHD 1,947,000 135,715 Hock Seng LEE BHD 1,253,616 782,156 Hong Leong Industries Bhd 605,900 995,034 * Hovid Bhd 279,300 32,315 Hua Yang Bhd 1,328,400 909,477 HwangDBS Malaysia BHD 476,900 648,104 IGB Corp. Bhd 5,689,655 4,798,453 IGB REIT 149,838 56,966 IJM Land Bhd 3,149,900 2,791,102 IJM Plantations Bhd 1,645,600 1,690,327 Inch Kenneth Kajang Rubber 1,045,300 301,504 Insas Bhd 2,600,781 527,088 Integrated Logistics Bhd 379,715 237,132 Integrax BHD 152,000 93,944 Iris Corp. Bhd 6,882,100 588,623 * JAKS Resources Bhd 3,430,900 603,922 Jaya Tiasa Holdings BHD 1,610,727 1,086,427 JCY International Bhd 3,641,000 732,656 JobStreet Corp. Bhd 53,400 36,355 JT International Bhd 554,100 1,155,630 * K&N Kenanga Holdings BHD(6486615) 1,205,860 227,281 K&N Kenanga Holdings BHD(B987B91), 5.000% 79,091 14 * Karambunai Corp. Bhd 4,654,100 132,984 Keck Seng Malaysia Bhd 828,150 1,858,042 Kian JOO CAN Factory BHD 1,893,880 1,903,745 Kim Loong Resources Bhd 292,760 224,555 Kimlun Corp. Bhd 727,000 463,290 * Kinsteel Bhd 1,427,600 124,089 KLCC Property Holdings Bhd 926,400 1,895,373 * KNM Group Bhd 8,803,950 1,143,572 Kossan Rubber Industries 1,664,000 3,369,205 KPJ Healthcare Bhd 4,305,350 8,324,145 * Kretam Holdings BHD 472,200 519,129 * KSL Holdings BHD 1,254,066 820,514 * KUB Malaysia BHD 1,353,500 195,299 Kulim Malaysia BHD 2,000,900 2,155,726 * Kumpulan Europlus Bhd 2,356,500 925,967 Kumpulan Fima BHD 897,450 559,988 Kumpulan Perangsang Selangor Bhd 1,627,000 1,201,260 Kwantas Corp. BHD 390,200 255,443 * Land & General BHD 4,167,200 462,152 * Landmarks BHD 1,458,600 544,882 LBS Bina Group Bhd 1,845,000 1,040,330 Lingkaran Trans Kota Holdings Bhd 999,500 1,441,353 * Lion Corp. Bhd 374,800 12,456 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ---------- ---------- MALAYSIA -- (Continued) Lion Industries Corp. Bhd 3,189,100 $ 893,644 LPI Capital Bhd 110,680 578,639 Magnum Bhd 2,819,000 2,958,145 Mah Sing Group Bhd 6,864,724 4,869,067 Malayan Flour Mills Bhd 1,546,650 666,387 Malaysia Building Society 1,341,300 1,190,159 * Malaysian Airline System Bhd 31,866,900 3,428,957 Malaysian Bulk Carriers Bhd 2,623,100 1,470,792 Malaysian Pacific Industries Bhd 348,113 310,952 Malaysian Resources Corp. Bhd 9,553,449 4,329,180 * Mancon Berhad 12,000 -- MBM Resources BHD 1,157,096 1,378,433 Media Chinese International, Ltd. 3,058,100 1,036,567 Media Prima Bhd 6,784,803 5,675,542 Mega First Corp. BHD 404,800 234,710 * MEMS Technology Berhad 1,917,000 -- MHC Plantations Bhd 22,300 7,491 MK Land Holdings BHD 775,500 89,691 MKH BHD 988,392 801,629 MNRB Holdings Bhd 717,300 795,776 Mudajaya Group Bhd 1,568,366 1,381,126 Muhibbah Engineering M Bhd 2,947,050 2,203,986 * Mulpha International Bhd 12,273,500 1,651,986 My EG Services Bhd 2,910,000 2,137,816 Naim Holdings Bhd 1,141,000 1,399,122 NCB Holdings Bhd 1,147,200 1,319,302 * Nikko Electronics Berhad 36,600 -- NTPM Holdings Bhd 1,433,180 304,305 Oldtown Bhd 1,454,600 1,143,195 Oriental Holdings BHD 182,700 511,715 OSK Holdings BHD 2,997,470 1,560,336 Pacific & Orient BHD 231,100 106,187 Padini Holdings Bhd 3,133,800 1,757,260 Panasonic Manufacturing Malaysia BHD 159,584 1,183,551 * Panglobal Berhad 14,000 -- Pantech Group Holdings Bhd 153,100 49,923 Paramount Corp. Bhd 310,100 154,207 Parkson Holdings Bhd 1,795,400 2,139,568 * Pelikan International Corp. Bhd 216,719 45,968 * Perdana Petroleum Bhd 3,194,100 2,063,721 * Perisai Petroleum Teknologi Bhd 7,311,700 3,267,158 Perusahaan Sadur Timah Malay 5,000 6,321 Pharmaniaga Bhd 286,060 431,188 Pie Industrial BHD 140,100 233,014 PJ Development Holdings Bhd 1,415,300 533,634 POS Malaysia BHD 2,861,100 5,175,559 Press Metal Bhd 1,190,100 926,340 Prestariang Berhad 494,200 363,323 * Prime Utilities Berhad 3,000 -- Protasco Bhd 457,600 201,516 Puncak Niaga Holding Bhd 1,353,220 1,449,744 QL Resources Bhd 2,530,920 3,174,797 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ --------- ---------- MALAYSIA -- (Continued) RCE Capital Bhd 1,535,850 $ 133,448 Rimbunan Sawit Bhd 2,719,100 719,231 Salcon Bhd 3,242,600 693,765 Sarawak Oil Palms Bhd 451,660 829,918 Sarawak Plantation Bhd 106,600 86,186 Scientex BHD 221,862 395,782 * Scomi Energy Services Bhd 1,862,300 445,033 * Scomi Group Bhd 8,684,100 1,045,306 SEG International BHD 279,800 137,447 Selangor Dredging Bhd 1,118,200 320,895 Selangor Properties Bhd 151,500 201,087 Shangri-La Hotels Malaysia Bhd 357,100 782,283 Shell Refining Co. Federation of Malaya Bhd 30,000 67,736 SHL Consolidated BHD 277,400 201,353 Southern Acids Malaysia BHD 41,000 35,610 * SRI Hartemas Berhad 65,000 -- Star Publications Malaysia Bhd 1,356,800 1,070,775 Subur Tiasa Holdings Bhd 386,085 235,059 Sunway Bhd 4,942,660 4,364,224 Supermax Corp. Bhd 5,402,500 4,516,523 Suria Capital Holdings Bhd 672,900 435,057 Syarikat Takaful Malaysia Bhd 431,200 1,274,001 * Symphony Life Bhd 999,926 380,354 Ta Ann Holdings Bhd 908,008 1,076,615 TA Enterprise Bhd 8,027,400 1,844,922 TA Global Bhd 5,176,440 483,807 TAHPS Group Bhd 4,000 7,033 Tambun Indah Land BHD 92,600 42,262 TAN Chong Motor Holdings BHD 1,793,000 3,578,397 * Tanjung Offshore Bhd 537,900 105,619 Tasek Corp. Bhd 75,900 376,089 TDM BHD 4,751,200 1,362,810 * Tebrau Teguh Bhd 2,552,300 1,091,851 * TH Heavy Engineering Bhd 8,049,600 2,206,976 TH Plantations Bhd 1,619,060 897,867 * Time dotCom Bhd 1,821,888 2,337,187 Tiong NAM Logistics Holdings 144,100 221,501 Top Glove Corp. Bhd 2,915,360 5,273,506 TRC Synergy Bhd 155,520 28,348 Tropicana Corp. Bhd 2,444,700 1,123,434 TSH Resources Bhd 2,278,600 1,820,669 Uchi Technologies Bhd 1,476,400 678,096 Unico-Desa Plantations Bhd 1,853,775 680,950 Unisem M Bhd 4,082,790 1,144,672 United Malacca Bhd 396,150 905,281 United Plantations BHD 502,000 4,251,042 UOA Development Bhd 2,870,500 2,028,407 Uzma Bhd 138,500 207,173 VS Industry Bhd 344,026 147,200 Wah Seong Corp. Bhd 2,247,735 1,210,783 WCT Holdings Bhd 5,450,840 4,231,200 Wellcall Holdings Bhd 18,000 17,001 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ --------- ------------ MALAYSIA -- (Continued) Wing Tai Malaysia BHD 620,000 $ 514,373 WTK Holdings BHD 2,235,200 920,281 Yinson Holdings BHD 715,600 1,097,464 YNH Property Bhd 1,476,398 842,123 YTL E-Solutions BHD 3,485,600 717,544 * YTL Land & Development BHD 1,286,200 396,980 Zhulian Corp. Bhd 1,045,233 1,483,667 ------------ TOTAL MALAYSIA 257,359,685 ------------ MEXICO -- (3.8%) # Alsea S.A.B. de C.V. 3,553,447 11,057,499 Arca Continental S.A.B. de C.V. 849,825 5,028,377 #* Axtel S.A.B. de C.V. 7,002,008 2,205,695 # Banregio Grupo Financiero S.A.B. de C.V. 1,271,615 7,037,753 #* Bio Pappel S.A.B. de C.V. 435,627 1,078,112 # Bolsa Mexicana de Valores S.A.B. de C.V. 2,992,799 7,106,242 # Cia Minera Autlan S.A.B. de C.V. Series B 735,296 501,008 # Compartamos S.A.B. de C.V. 3,957,362 7,682,843 * Consorcio ARA S.A.B. de C.V. Series * 6,469,282 2,523,800 # Corp. Actinver S.A.B. de C.V. 10,600 11,813 #* Corp. GEO S.A.B. de C.V. Series B 3,194,830 119,806 Corp. Inmobiliaria Vesta S.A.B. de C.V. 457,816 877,227 * Corp. Interamericana de Entretenimiento S.A.B. de C.V. Class B 960,372 655,104 * Corp. Mexicana de Restaurantes S.A.B. de C.V. 1,323 507 Corp. Moctezuma S.A.B. de C.V. Series * 861,300 2,705,910 Corporativo Fragua S.A.B. de C.V. 3 52 Corporativo GBM S.A.B. de C.V. 22,477 15,677 #* Desarrolladora Homex S.A.B. de C.V. 1,527,543 378,747 #* Desarrolladora Homex S.A.B. de C.V. ADR 19,076 25,180 * Empaques Ponderosa SA de CV 206,000 -- #* Empresas ICA S.A.B. de C.V. 3,273,516 6,217,228 #* Empresas ICA S.A.B. de C.V. Sponsored ADR 741,219 5,640,677 #* Financiera Independencia S.A.B. de C.V. 199,935 70,950 #* Genomma Lab Internacional S.A.B. de C.V. Class B 6,587,305 17,544,605 #* Gruma S.A.B. de C.V. Class B 1,690,397 11,622,795 * Gruma S.A.B. de C.V. Sponsored ADR 33,070 904,795 * Grupo Aeromexico S.A.B. de C.V. 669,668 924,388 # Grupo Aeroportuario del Centro Norte S.A.B. de C.V. 1,406,017 4,794,397 Grupo Aeroportuario del Centro Norte S.A.B. de C.V. ADR 3,642 99,026 Grupo Aeroportuario del Pacifico S.A.B. de C.V. ADR 54,326 2,824,409 Grupo Aeroportuario del Pacifico S.A.B. de C.V. Class B 1,650,025 8,592,056 Grupo Aeroportuario del Sureste S.A.B. de C.V. ADR 57,721 6,869,376 # Grupo Aeroportuario del Sureste S.A.B. de C.V. Class B 433,151 5,154,089 Grupo Cementos de Chihuahua S.A.B. de C.V. 822,000 2,469,355 # Grupo Comercial Chedraui S.A. de C.V. 466,263 1,453,046 * Grupo Famsa S.A.B. de C.V. Class A 1,631,348 3,094,588 # Grupo Herdez S.A.B. de C.V. Series * 1,102,908 3,888,464 Grupo Industrial Maseca S.A.B. de C.V. Class B 578,600 1,035,048 Grupo Industrial Saltillo S.A.B. de C.V. 214,861 358,177 Grupo KUO S.A.B. de C.V. Series B 659,643 1,269,006 * Grupo Pochteca S.A.B. de C.V. 547,728 736,335 Grupo Posadas S.A.B. de C.V. 198,900 396,359 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ---------- ------------ MEXICO -- (Continued) * Grupo Qumma S.A. de C.V. Series B 105,334 $ -- #* Grupo Simec S.A.B. de C.V. Series B 798,555 2,977,616 * Grupo Simec S.A.B. de C.V. Sponsored ADR 5,180 57,602 * Grupo Sports World S.A.B. de C.V. 304,575 441,202 # Industrias Bachoco S.A.B. de C.V. ADR 12,806 524,918 Industrias Bachoco S.A.B. de C.V. Series B 437,208 1,500,559 #* Industrias CH S.A.B. de C.V. Series B 1,655,914 8,125,208 * Inmuebles Carso S.A.B. de C.V. 340,447 339,214 Megacable Holdings S.A.B. de C.V. 516,937 1,705,657 * OHL Mexico S.A.B. de C.V. 287,968 738,943 # Organizacion Cultiba S.A.B. de C.V. 211,684 438,059 #* Promotora y Operadora de Infraestructura S.A.B. de C.V. 1,672,951 16,988,199 Qualitas Controladora S.A.B. de C.V. 12,200 28,837 * Sanluis Corp. S.A.B. de C.V. 4,642 -- * Sanluis Corp. S.A.B. de C.V. Class B 4,642 -- * Sanluis Rassini S.A.P.I. de C.V. Series A 3,300 -- * Savia SA Class A 610,700 -- TV Azteca S.A.B. de C.V. 7,199,982 3,592,472 #* Urbi Desarrollos Urbanos S.A.B. de C.V. 2,371,991 285,426 * Vitro S.A.B. de C.V. Series A 749,231 1,693,447 ------------ TOTAL MEXICO 174,407,880 ------------ PHILIPPINES -- (1.3%) A Soriano Corp. 3,430,211 557,297 Aboitiz Equity Ventures, Inc. 422,440 497,584 Alsons Consolidated Resources, Inc. 3,647,000 114,796 Atlas Consolidated Mining & Development 3,296,800 942,748 * Belle Corp. 24,859,400 2,993,355 Cebu Air, Inc. 1,101,140 1,343,810 Cebu Holdings, Inc. 3,291,900 443,874 Century Properties Group, Inc. 1,924,000 80,966 China Banking Corp. 657,192 942,799 COL Financial Group, Inc. 130,900 51,574 * East West Banking Corp. 458,300 270,941 EEI Corp. 2,776,700 693,286 * Empire East Land Holdings, Inc. 20,479,000 449,844 Filinvest Development Corp. 3,314,322 324,750 Filinvest Land, Inc. 78,973,577 2,936,750 First Gen Corp. 8,169,700 3,039,903 First Philippine Holdings Corp. 1,774,080 2,852,737 * Ginebra San Miguel, Inc. 604,800 365,061 * Global-Estate Resorts, Inc. 11,472,000 360,266 Jollibee Foods Corp. 161,598 663,728 Lafarge Republic, Inc. 2,026,082 436,321 Leisure & Resorts World Corp. 1,053,240 157,742 * Lepanto Consolidated Mining 37,540,000 372,543 Lopez Holdings Corp. 11,875,200 1,326,948 Macroasia Corp. 447,500 21,042 * Manila Mining Corp. 66,062,500 33,638 Manila Water Co., Inc. 5,507,400 3,184,911 * Megawide Construction Corp. 887,900 230,724 Megaworld Corp. 23,497,000 2,084,693 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ----------- ----------- PHILIPPINES -- (Continued) * Metro Pacific Corp. Series A 1,827,193 $ -- Pepsi-Cola Products Philippines, Inc. 7,629,900 856,546 * Philex Petroleum Corp. 287,100 58,064 * Philippine Bank of Communications 14,726 22,229 * Philippine National Bank 976,145 2,180,549 * Philippine National Construction Corp. 173,000 19,618 Philippine Savings Bank 356,863 1,027,895 Philippine Stock Exchange, Inc. 92,710 780,926 * Philippine Townships, Inc 318,732 35,038 Philodrill Corp. 172,100,000 151,501 Philtown Properties, Inc 111,562 3,976 Philweb Corp. 3,070,740 710,058 Phinma Corp. 135,549 42,370 Phoenix Petroleum Philippines, Inc. 892,880 113,135 RFM Corp. 8,590,268 1,093,081 Rizal Commercial Banking Corp. 1,793,640 1,950,982 Robinsons Land Corp. 6,756,005 3,544,013 San Miguel Pure Foods Co., Inc. 60,750 341,295 Security Bank Corp. 1,265,920 4,075,123 Semirara Mining Corp. 380,900 2,431,843 Shang Properties, Inc. 1,702,970 120,483 SM Prime Holdings, Inc. 7,712,945 3,416,642 Trans-Asia Oil & Energy Development 9,667,000 525,679 Union Bank Of Philippines 725,560 2,101,643 * Universal Rightfield Property Holdings, Inc. 1,062,000 -- Universal Robina Corp. 1,219,555 3,599,678 Vista Land & Lifescapes, Inc. 23,644,000 3,018,548 ----------- TOTAL PHILIPPINES 59,995,546 ----------- POLAND -- (2.2%) Action SA 8,018 147,040 * Agora SA 270,334 1,011,504 * Alchemia SA 380,695 650,556 Amica Wronki SA 1,509 52,380 * AmRest Holdings SE 55,733 1,979,101 Apator SA 50,701 647,627 Asseco Poland SA 564,202 9,216,429 ATM SA 64,541 280,946 * Bank Millennium SA 2,517 6,256 * Bioton SA 1 -- * Boryszew SA 12,075,930 2,034,347 Budimex SA 76,123 3,202,904 CCC SA 96,997 4,091,546 * CD Projekt Red SA 663,652 3,338,155 * Ciech SA 272,549 2,640,942 * Cinema City International NV 53,690 575,461 * City Interactive SA 11,086 32,380 ComArch SA 2,740 89,643 Dom Development SA 4,673 72,822 #* Eko Export SA 18,540 270,247 Elektrobudowa SA 8,568 442,399 Emperia Holding SA 70,149 1,556,491 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ --------- ----------- POLAND -- (Continued) Enea SA 42,782 $ 201,318 Fabryki Mebli Forte SA 58,639 634,381 * Famur SA 323,422 561,423 * Farmacol SA 50,868 1,147,806 Firma Oponiarska Debica SA 29,862 925,336 # Getin Holding SA 2,538,985 3,591,132 * Getin Noble Bank SA 1,920,184 1,694,179 Grupa Azoty SA 94,421 2,496,100 Grupa Kety SA 39,997 2,467,220 * Grupa Lotos SA 582,072 7,100,380 * Hawe SA 646,292 827,744 * Impexmetal SA 825,711 936,122 * Integer.pl SA 910 91,200 * Inter Cars SA 15,683 1,002,119 #* Kernel Holding SA 220,023 2,959,710 Kopex SA 201,538 720,750 * KRUK SA 12,760 340,679 * LC Corp. SA 95,326 57,570 Lentex SA 169,577 410,613 LPP SA 1,361 3,984,465 Lubelski Wegiel Bogdanka SA 266,391 9,844,205 * MCI Management SA 214,763 690,951 * Midas SA 225,978 56,376 * Netia SA 1,718,668 2,844,533 Neuca SA 11,588 1,086,639 Orbis SA 130,535 1,790,055 Pelion SA 47,210 1,714,011 * Petrolinvest SA 643,448 31,353 * Pfleiderer Grajewo SA 22,957 214,486 * Polimex-Mostostal SA 3,287,314 212,934 * Polnord SA 21,724 62,315 * Polski Koncern Miesny Duda SA 803,414 220,961 * PZ Cormay SA 141,320 346,180 * Rafako SA 249,590 525,177 * Rovese SA 2,130,455 1,527,158 * Stalexport Autostrady SA 109,683 81,575 Stalprodukt SA 8,713 612,838 * Sygnity SA 52,622 361,391 Synthos SA 1,211,292 2,051,441 * Trakcja SA 739,464 317,170 TVN SA 1,358,110 6,841,611 * Vistula Group SA 440,424 331,415 Warsaw Stock Exchange 157,683 2,283,520 Wawel SA 88 33,902 Zaklady Chemiczne Police SA 76,751 676,928 ----------- TOTAL POLAND 99,248,548 ----------- SOUTH AFRICA -- (7.4%) Adcock Ingram Holdings, Ltd. 945,633 6,784,701 Adcorp Holdings, Ltd. 398,758 1,375,878 Advtech, Ltd. 1,773,060 1,167,770 Aeci, Ltd. 770,360 9,389,010 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ---------- ----------- SOUTH AFRICA -- (Continued) Afgri, Ltd. 1,539,432 $ 1,013,190 # African Bank Investments, Ltd. 3,287,295 5,553,525 # African Oxygen, Ltd. 852,766 1,835,105 * AG Industries, Ltd. 32,496,618 -- Allied Electronics Corp., Ltd. 194,270 472,758 * ArcelorMittal South Africa, Ltd. 675,248 2,660,379 Argent Industrial, Ltd. 37,236 20,229 # Astral Foods, Ltd. 252,757 2,540,947 * Aveng, Ltd. 3,013,152 8,847,846 AVI, Ltd. 2,511,843 14,755,317 Barloworld, Ltd. 993,091 8,896,276 Basil Read Holdings, Ltd. 325,585 309,687 Bell Equipment, Ltd. 158,539 379,690 Blue Label Telecoms, Ltd. 2,551,512 2,396,858 * Brait SE 652,259 3,179,735 Business Connexion Group, Ltd. 1,486,408 831,568 # Capitec Bank Holdings, Ltd. 129,311 2,754,768 Cashbuild, Ltd. 158,655 2,470,620 Caxton and CTP Publishers and Printers, Ltd. 36,508 68,748 City Lodge Hotels, Ltd. 252,832 3,327,791 # Clicks Group, Ltd. 2,118,882 13,215,346 Clover Industries, Ltd. 563,523 922,627 * Consolidated Infrastructure Group, Ltd. 30,248 67,523 Coronation Fund Managers, Ltd. 1,607,942 13,114,119 * Corpgro, Ltd. 241,136 -- Cullinan Holdings, Ltd. 197,115 39,117 Datacentrix Holdings, Ltd. 641,400 300,769 DataTec, Ltd. 1,284,878 7,336,597 Delta EMD, Ltd. 61,447 38,159 Distell Group, Ltd. 256,918 3,439,534 * Distribution and Warehousing Network, Ltd. 258,997 246,185 DRDGOLD, Ltd. 2,685,729 1,326,573 ElementOne, Ltd. 325,845 288,152 EOH Holdings, Ltd. 691,206 5,596,464 Eqstra Holdings, Ltd. 1,486,392 1,227,724 * Evraz Highveld Steel and Vanadium, Ltd. 147,184 239,870 Famous Brands, Ltd. 315,951 3,144,768 * Gijima Group, Ltd. 2,583 235 # Grand Parade Investments, Ltd. 272,805 115,979 Grindrod, Ltd. 2,789,984 6,710,581 Group Five, Ltd. 779,789 3,505,129 # Harmony Gold Mining Co., Ltd. 290,786 1,003,383 # Harmony Gold Mining Co., Ltd. Sponsored ADR 1,317,466 4,479,384 Holdsport, Ltd. 74,922 366,867 Hudaco Industries, Ltd. 229,088 2,358,641 * Hulamin, Ltd. 429,395 242,283 Iliad Africa, Ltd. 233,033 117,702 Illovo Sugar, Ltd. 1,763,937 5,535,065 Invicta Holdings, Ltd. 2,017 20,007 * JCI, Ltd. 3,131,151 -- # JD Group, Ltd. 1,068,597 3,280,401 JSE, Ltd. 649,117 5,697,646 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ --------- ------------ SOUTH AFRICA -- (Continued) Kagiso Media, Ltd. 154,224 $ 424,327 KAP Industrial Holdings, Ltd. 1,915,640 721,572 Lewis Group, Ltd. 723,965 5,056,577 Mediclinic International, Ltd. 3,033 22,857 * Merafe Resources, Ltd. 5,558,867 449,648 Metair Investments, Ltd. 753,655 2,926,532 Mpact, Ltd. 873,665 2,376,550 * Murray & Roberts Holdings, Ltd. 3,176,473 9,670,849 Mustek, Ltd. 740,975 391,490 * Mvelaserve, Ltd. 144,333 132,482 Nampak, Ltd. 2,740,692 9,060,557 * Northam Platinum, Ltd. 1,810,493 7,437,133 Nu-World Holdings, Ltd. 28,894 47,224 Oceana Group, Ltd. 313,318 2,621,062 Octodec Investments, Ltd. 10,288 22,247 Omnia Holdings, Ltd. 486,127 10,032,055 * Palabora Mining Co., Ltd. 93,739 1,080,760 Peregrine Holdings, Ltd. 667,724 915,063 Petmin, Ltd. 1,215,428 267,967 # Pick n Pay Stores, Ltd. 856,714 4,048,883 Pinnacle Technology Holdings, Ltd. 1,058,779 2,586,376 Pioneer Foods, Ltd. 552,407 4,679,861 PPC, Ltd. 3,686,071 11,644,507 Premium Properties, Ltd. 34,094 64,653 PSG Group, Ltd. 770,528 6,335,902 Raubex Group, Ltd. 675,840 1,596,823 * RCL Foods, Ltd. 459,330 779,517 Redefine International P.L.C. 353,155 280,730 Resilient Property Income Fund, Ltd. 620,358 3,395,162 Reunert, Ltd. 1,171,205 8,207,620 * Royal Bafokeng Platinum, Ltd. 243,174 1,488,272 Santam, Ltd. 108,252 2,054,757 * Sappi, Ltd. 3,959,742 11,670,111 * Sentula Mining, Ltd. 1,367,857 47,881 Sibanye Gold, Ltd. 1,844,796 2,603,431 Sibanye Gold, Ltd. Sponsored ADR 447,093 2,512,663 Spar Group, Ltd. (The) 855,975 10,953,523 Spur Corp., Ltd. 524,160 1,670,904 * Stefanutti Stocks Holdings, Ltd. 504,993 514,310 Sun International, Ltd. 769,477 7,803,268 * Super Group, Ltd. 2,435,019 5,972,526 * Telkom SA SOC, Ltd. 1,822,082 4,754,154 * Times Media Group, Ltd. 82,884 178,245 Tongaat Hulett, Ltd. 734,460 9,252,131 Trencor, Ltd. 830,412 5,907,731 Tsogo Sun Holdings, Ltd. 56,352 158,026 Value Group, Ltd. 363,719 247,626 Wilson Bayly Holmes-Ovcon, Ltd. 429,071 7,512,647 Zeder Investments, Ltd. 2,617,771 1,128,992 ------------ TOTAL SOUTH AFRICA 338,717,410 ------------ THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ------- ---------- SOUTH KOREA -- (13.3%) * 3S Korea Co., Ltd. 164,067 $ 877,014 Able C&C Co., Ltd. 15,300 450,354 #* Actoz Soft Co., Ltd. 23,002 731,278 #* Advanced Nano Products Co., Ltd. 12,615 229,391 #* Advanced Process Systems Corp. 89,895 917,156 # Aekyung Petrochemical Co., Ltd. 6,167 346,075 # AfreecaTV Co., Ltd. 44,376 423,817 # Agabang&Company 100,920 529,438 # Ahnlab, Inc. 2,096 107,686 * AJ Rent A Car Co., Ltd. 9,060 89,467 AK Holdings, Inc. 12,678 479,738 #* Aminologics Co., Ltd. 129,600 198,860 AMOREPACIFIC Group 369 130,214 Anapass, Inc. 37,905 453,969 # Asia Cement Co., Ltd. 12,545 1,147,174 Asia Paper Manufacturing Co., Ltd. 19,360 391,215 * Asiana Airlines, Inc. 493,070 2,337,580 # AtlasBX Co., Ltd. 35,973 1,267,673 * AUK Corp. 199,140 460,548 # Autech Corp. 45,433 282,881 #* Avaco Co., Ltd. 44,746 164,742 # Baiksan Co., Ltd. 52,800 293,111 #* Basic House Co., Ltd. (The) 37,960 650,180 #* BH Co., Ltd. 57,838 689,789 # BHI Co., Ltd. 21,588 367,665 # Binggrae Co., Ltd. 26,150 2,203,386 # Bioland, Ltd. 43,535 493,887 # Biospace Co., Ltd. 48,097 367,528 #* Biotoxtech Co., Ltd. 17,509 84,134 Bluecom Co., Ltd. 9,689 126,811 * Bongshin Co., Ltd. 64 -- Bookook Securities Co., Ltd. 7,410 98,660 #* Boryung Medience Co., Ltd. 28,098 198,980 # Boryung Pharmaceutical Co., Ltd. 19,869 709,322 BS Financial Group, Inc. 56,570 908,220 Bukwang Pharmaceutical Co., Ltd. 77,638 1,057,433 Busan City Gas Co., Ltd. 32,560 889,599 BYC Co., Ltd. 710 126,389 # Byucksan Corp. 139,530 340,514 #* CammSys Corp. 168,828 433,845 # Capro Corp. 108,980 797,172 #* Celltrion Pharm, Inc. 52,300 608,373 #* Chabio & Diostech Co., Ltd. 205,282 1,992,294 #* Charm Engineering Co., Ltd. 42,800 95,230 * Cheil Worldwide, Inc. 31,545 777,229 Chemtronics Co., Ltd. 35,785 818,130 #* Chin Hung International, Inc. 199,911 307,923 * China Great Star International, Ltd. 258,074 450,420 #* China Ocean Resources Co., Ltd. 279,510 1,138,556 * Choa Pharmaceutical Co. 85,343 275,139 Chong Kun Dang Pharm Corp. 47,332 3,556,314 # Choong Ang Vaccine Laboratory 16,852 201,117 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ------- ---------- SOUTH KOREA -- (Continued) Chosun Refractories Co., Ltd. 2,777 $ 205,929 # Chungdahm Learning, Inc. 17,619 226,536 # CJ CGV Co., Ltd. 60,100 2,826,497 * CJ E&M Corp. 94,096 3,253,374 CJ Freshway Corp. 2,560 69,335 #* CJ Korea Express Co., Ltd. 28,793 2,502,881 CJ O Shopping Co., Ltd. 3,994 1,332,866 #* CJ Seafood Corp. 91,710 219,910 CKD Bio Corp. 3,950 60,466 #* CNK International Co., Ltd. 59,774 295,511 #* Com2uSCorp 20,828 441,130 # Cosmax, Inc. 49,340 2,422,530 #* CosmoAM&T Co., Ltd. 20,020 100,182 #* Cosmochemical Co., Ltd. 47,000 427,322 Credu Corp. 11,472 523,159 # Crown Confectionery Co., Ltd. 3,089 705,049 #* CrucialTec Co., Ltd. 85,527 1,067,543 #* CTC BIO, Inc. 69,173 1,398,171 #* CUROCOM Co., Ltd. 109,505 138,935 #* D.I Corp. 126,500 1,195,156 # D.ID Corp. 68,169 282,395 Dae Dong Industrial Co., Ltd. 56,620 325,472 Dae Han Flour Mills Co., Ltd. 5,340 719,305 Dae Hyun Co., Ltd. 91,760 207,973 # Dae Won Kang Up Co., Ltd. 113,914 805,928 #* Dae Young Packaging Co., Ltd. 329,600 264,779 # Dae-Il Corp. 45,790 210,071 #* Daea TI Co., Ltd. 304,300 475,664 # Daechang Co., Ltd. 311,170 310,245 # Daeduck Electronics Co. 168,597 1,484,664 # Daeduck GDS Co., Ltd. 92,186 1,693,706 # Daegu Department Store 39,730 614,376 # Daehan Steel Co., Ltd. 60,820 377,474 # Daehwa Pharmaceutical Co., Ltd. 53,474 303,996 Daekyo Co., Ltd. 72,780 460,269 #* Daekyung Machinery & Engineering Co., Ltd. 139,260 231,405 Daelim Trading Co., Ltd. 14,030 53,225 # Daesang Corp. 100,230 3,273,148 Daesang Holdings Co., Ltd. 68,482 482,946 # Daesung Holdings Co., Ltd. 18,044 146,503 # Daewon Pharmaceutical Co., Ltd. 51,887 513,563 Daewon San Up Co., Ltd. 22,325 179,739 Daewoong Co., Ltd. 3,947 138,781 Daewoong Pharmaceutical Co., Ltd. 23,245 1,828,427 * Dahaam E-Tec Co., Ltd. 2,100 35,635 Daishin Securities Co., Ltd. 198,340 1,655,036 #* Danal Co., Ltd. 10,675 98,890 # Daou Data Corp. 57,148 236,348 Daou Technology, Inc. 167,950 2,301,634 #* Dasan Networks, Inc. 79,038 472,910 # Daum Communications Corp. 55,806 4,656,483 # Dayou Automotive Seat Technology Co., Ltd. 315,450 335,580 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ------- ----------- SOUTH KOREA -- (Continued) #* Deutsch Motors, Inc. 15,505 $ 62,585 DGB Financial Group, Inc. 671,453 10,773,239 Digital Chosun Co., Ltd. 4,745 8,449 # Digital Power Communications Co., Ltd. 50,540 164,645 #* Digitech Systems Co., Ltd. 68,918 398,604 #* DIO Corp. 66,510 515,892 Dong Ah Tire & Rubber Co., Ltd. 23,935 399,236 #* Dong Yang Gang Chul Co., Ltd. 135,820 270,710 Dong-A Socio Holdings Co., Ltd. 8,876 1,262,817 * Dong-A ST Co., Ltd. 1,105 129,492 # Dong-Ah Geological Engineering Co., Ltd. 30,200 248,950 Dong-Il Corp. 3,402 164,679 # Dongaone Co., Ltd. 111,180 345,722 Dongbang Agro Co. 10,840 65,458 # Dongbang Transport Logistics Co., Ltd. 75,370 182,424 # Dongbu CNI Co., Ltd. 20,390 79,795 #* Dongbu Corp. 41,240 129,641 * Dongbu HiTek Co., Ltd. 135,273 770,345 Dongbu Securities Co., Ltd. 129,391 430,089 #* Dongbu Steel Co., Ltd. 118,046 278,851 Dongil Industries Co., Ltd. 4,963 246,450 # Dongjin Semichem Co., Ltd. 133,403 539,829 * Dongkook Industrial Co., Ltd. 97,720 267,632 # DongKook Pharmaceutical Co., Ltd. 16,245 539,457 # Dongkuk Steel Mill Co., Ltd. 188,990 2,641,305 DONGKUK STRUCTURES & CONSTRUCTION Co., Ltd. 95,369 370,635 Dongsuh Co., Inc. 8,129 212,937 # Dongsung Chemical Co., Ltd. 8,700 174,350 # Dongsung Holdings Co., Ltd. 82,800 406,494 # Dongsung Pharmaceutical Co., Ltd. 35,980 145,382 # Dongwha Pharm Co., Ltd. 102,730 538,745 # Dongwon F&B Co., Ltd. 6,814 696,559 Dongwon Industries Co., Ltd. 5,862 1,568,978 * Dongwon Systems Corp. 4,921 32,491 Dongyang E&P, Inc. 4,057 68,753 Dongyang Mechatronics Corp. 125,881 1,433,574 #* Doosan Engine Co., Ltd. 108,960 968,703 #* Doosan Engineering & Construction Co., Ltd. 143,196 312,958 #* Doosan Infracore Co., Ltd. 24,600 352,106 # Dragonfly GF Co., Ltd. 32,142 272,057 # DRB Holding Co., Ltd. 25,966 190,094 DRB Industrial Co., Ltd. 25,895 215,273 * Duksan Hi-Metal Co., Ltd. 63,992 1,263,058 # DuzonBIzon Co., Ltd. 109,890 1,030,923 # e-LITECOM Co., Ltd. 34,066 611,777 E1 Corp. 13,832 991,947 * Eagon Industries Co., Ltd. 6,060 73,644 Easy Bio, Inc. 180,267 788,447 #* Ecopro Co., Ltd. 49,386 426,629 EG Corp. 23,376 458,374 #* ELK Corp. 46,945 281,816 EMKOREA Co., Ltd. 32,210 293,006 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ------- ---------- SOUTH KOREA -- (Continued) # ENF Technology Co., Ltd. 41,230 $ 381,574 Eo Technics Co., Ltd. 5,591 227,492 # Estechpharma Co., Ltd. 35,736 400,260 #* ESTsoft Corp. 14,111 274,388 Eugene Corp. 148,970 406,043 * Eugene Investment & Securities Co., Ltd. 247,273 510,574 # Eugene Technology Co., Ltd. 70,756 1,085,266 * Farmsco 7,490 44,978 Fila Korea, Ltd. 46,332 3,137,354 #* Finetex EnE, Inc. 86,393 220,160 # Firstec Co., Ltd. 164,190 286,782 #* Flexcom, Inc. 53,658 682,890 #* Foosung Co., Ltd. 113,049 427,006 Fursys, Inc. 14,315 421,717 #* GameHi Co., Ltd. 36,801 251,093 #* Gamevil, Inc. 28,066 1,341,535 Gaon Cable Co., Ltd. 10,754 198,194 #* Genexine Co., Ltd. 4,776 108,551 #* Genic Co., Ltd. 18,840 442,455 GIIR, Inc. 10,990 82,806 Global & Yuasa Battery Co., Ltd. 28,740 1,348,469 #* GNCO Co., Ltd. 206,634 311,313 # Golfzon Co., Ltd. 57,227 1,111,818 # Grand Korea Leisure Co., Ltd. 150,160 5,469,533 * Green Cross Cell Corp. 11,214 301,109 # Green Cross Corp. 33,326 4,114,300 Green Cross Holdings Corp. 96,840 1,206,517 * Green Non-Life Insurance Co., Ltd. 22,357 -- # GS Engineering & Construction Corp. 159,910 5,398,972 # GS Global Corp. 64,716 589,925 GS Home Shopping, Inc. 7,229 1,666,186 GSretail Co., Ltd. 23,080 637,947 # Gwangju Shinsegae Co., Ltd. 3,400 841,031 # Haesung Industrial Co., Ltd. 15,565 578,724 # Halla Corp. 75,562 379,278 # Halla Visteon Climate Control Corp. 72,110 2,696,382 # Han Kuk Carbon Co., Ltd. 138,853 1,165,593 * Hana Micron, Inc. 12,372 76,867 #* Hanall Biopharma Co., Ltd. 92,648 543,462 # Handok, Inc. 29,260 477,470 # Handsome Co., Ltd. 69,759 1,997,254 Hanil Cement Co., Ltd. 20,147 1,584,380 Hanil E-Wha Co., Ltd. 111,930 2,313,097 #* Hanjin Heavy Industries & Construction Co., Ltd. 239,542 2,776,781 Hanjin Heavy Industries & Construction Holdings Co., Ltd. 66,020 569,275 #* Hanjin P&C Co., Ltd. 110,818 86,189 #* Hanjin Shipping Co., Ltd. 426,928 3,110,560 * Hanjin Shipping Holdings Co., Ltd. 54,244 272,342 # Hanjin Transportation Co., Ltd. 48,021 830,114 Hankook Shell Oil Co., Ltd. 3,445 1,707,418 * Hankuk Glass Industries, Inc. 11,460 176,596 Hankuk Paper Manufacturing Co., Ltd. 11,500 256,823 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ------- ----------- SOUTH KOREA -- (Continued) * Hanmi Pharm Co., Ltd. 24,178 $ 2,933,858 #* Hanmi Science Co., Ltd. 79,441 1,195,817 # Hanmi Semiconductor Co., Ltd. 53,050 627,475 Hansae Co., Ltd. 46,356 739,782 Hansae Yes24 Holdings Co., Ltd. 56,991 257,932 # Hansol Chemical Co., Ltd. 48,160 1,239,181 # Hansol CSN 205,620 616,332 #* Hansol HomeDeco Co., Ltd. 276,470 452,916 Hansol Paper Co. 203,390 2,356,220 #* Hansol Technics Co., Ltd. 71,999 1,286,764 Hanssem Co., Ltd. 49,360 1,999,905 Hanwha Corp. 148,570 5,623,466 * Hanwha General Insurance Co., Ltd. 83,588 330,652 * Hanwha Investment & Securities Co., Ltd. 293,301 992,043 Hanwha Timeworld Co., Ltd. 8,190 251,578 * Hanyang Eng Co., Ltd. 19,969 126,028 Hanyang Securities Co., Ltd. 15,710 92,107 * Harim Holdings Co., Ltd. 20,409 59,227 # Heung-A Shipping Co., Ltd. 447,027 669,795 * Heungkuk Fire & Marine Insurance Co., Ltd. 74,867 318,884 High Tech Pharm Co., Ltd. 16,915 231,230 # Hite Jinro Co., Ltd. 133,008 3,264,838 Hitejinro Holdings Co., Ltd. 36,750 400,024 HMC Investment Securities Co., Ltd. 90,880 912,752 # Hotel Shilla Co., Ltd. 161,958 10,462,226 # Huchems Fine Chemical Corp. 108,078 2,435,035 Humax Co., Ltd. 47,973 567,528 #* Hunus, Inc. 20,753 55,530 # Huons Co., Ltd. 29,809 784,101 # Husteel Co., Ltd. 19,550 357,225 Huvis Corp. 35,480 342,928 # Huvitz Co., Ltd. 29,082 507,830 Hwa Shin Co., Ltd. 87,220 1,051,759 Hwacheon Machine Tool Co., Ltd. 4,979 242,046 # Hy-Lok Corp. 39,193 985,975 Hyosung Corp. 121,019 8,158,566 * Hyundai BNG Steel Co., Ltd. 51,160 668,826 Hyundai Corp. 58,941 1,842,722 # Hyundai Development Co. 299,750 6,662,932 #* Hyundai Elevator Co., Ltd. 42,802 2,425,794 # Hyundai Engineering Plastics Co., Ltd. 93,890 601,618 # Hyundai Greenfood Co., Ltd. 232,990 3,711,097 Hyundai Home Shopping Network Corp. 27,099 4,290,341 Hyundai Hy Communications & Networks Co., Ltd. 114,410 513,047 Hyundai Marine & Fire Insurance Co., Ltd. 27,130 775,178 #* Hyundai Merchant Marine Co., Ltd. 215,410 2,787,235 # Hyundai Mipo Dockyard 2,711 431,485 Hyundai Securities Co., Ltd. 590,660 3,750,975 # Hyunjin Materials Co., Ltd. 65,164 430,303 * HyVision System, Inc. 40,533 624,320 #* ICD Co., Ltd. 26,262 280,738 #* IHQ, Inc. 102,820 227,523 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ------- ---------- SOUTH KOREA -- (Continued) # Il Dong Pharmaceutical Co., Ltd. 46,965 $ 523,420 # Iljin Display Co., Ltd. 71,588 1,009,411 # Iljin Electric Co., Ltd. 81,849 473,285 #* Iljin Materials Co., Ltd. 66,150 760,236 # Ilshin Spinning Co., Ltd. 6,835 712,316 # Ilsung Pharmaceuticals Co., Ltd. 2,864 210,737 Ilyang Pharmaceutical Co., Ltd. 54,858 1,461,755 # IM Co., Ltd. 65,996 285,816 # iMarketKorea, Inc. 88,230 2,099,005 # iMBC Co., Ltd. 51,282 207,690 #* Infinitt Healthcare Co., Ltd. 24,327 191,886 #* Infopia Co., Ltd. 36,952 518,511 #* Infraware, Inc. 73,042 840,277 #* InkTec Co., Ltd. 30,071 871,328 # Innochips Technology, Inc. 15,800 221,703 # InnoWireless, Inc. 21,995 235,073 * Innox Corp. 43,492 1,045,072 Intelligent Digital Integrated Securities Co., Ltd. 4,817 84,104 #* Interflex Co., Ltd. 38,115 1,136,812 Intergis Co., Ltd. 5,610 37,623 # Interojo Co., Ltd. 34,343 550,946 # Interpark Corp. 155,486 1,479,414 INTOPS Co., Ltd. 34,086 725,683 Inzi Controls Co., Ltd. 45,990 228,985 INZI Display Co., Ltd. 64,622 116,548 #* IS Dongseo Co., Ltd. 52,132 807,891 # ISU Chemical Co., Ltd. 57,600 896,025 # IsuPetasys Co., Ltd. 140,580 932,594 Jahwa Electronics Co., Ltd. 49,810 988,012 * JB Financial Group Co., Ltd. 301,249 2,058,933 # JCEntertainment Corp. 33,920 579,638 * Jcontentree Corp. 68,358 307,100 # Jeil Pharmaceutical Co. 28,520 346,602 * Jeju Semiconductor Corp. 16,648 77,639 # Jinsung T.E.C. 70,489 398,112 # JNK Heaters Co., Ltd. 11,537 79,403 #* Joymax Co., Ltd. 21,192 795,958 #* Jusung Engineering Co., Ltd. 84,131 449,189 #* JVM Co., Ltd. 15,235 694,345 JW Holdings Co., Ltd. 167,258 422,156 JW Pharmaceutical Corp. 41,681 604,134 JW Shinyak Corp. 13,120 54,274 #* JYP Entertainment Corp. 97,185 433,495 # KC Cottrell Co., Ltd. 28,203 298,597 KC Green Holdings Co., Ltd. 26,340 259,307 # KC Tech Co., Ltd. 123,092 563,994 * KCO Energy, Inc. 120 -- # KCP Co., Ltd. 33,708 380,746 * Keangnam Enterprises, Ltd. 5,833 18,674 #* KEC Corp. 101,438 95,299 # KEPCO Plant Service & Engineering Co., Ltd. 22,636 1,147,384 Keyang Electric Machinery Co., Ltd. 66,240 203,974 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ --------- ---------- SOUTH KOREA -- (Continued) * Keystone Global 96,405 $ 81,271 KG Chemical Corp. 12,790 211,052 # Kginicis Co., Ltd. 48,564 992,559 # KGMobilians Co., Ltd. 50,860 618,183 #* KH Vatec Co., Ltd. 54,402 1,385,424 # KISCO Corp. 18,970 508,101 KISCO Holdings Co., Ltd. 2,292 89,471 Kishin Corp. 49,420 372,875 # KISWIRE, Ltd. 25,959 904,576 KIWOOM Securities Co., Ltd. 60,791 3,184,860 * KMH Co., Ltd. 37,601 352,267 #* KMW Co., Ltd. 19,362 362,989 #* Koentec Co., Ltd. 194,086 376,633 # Koh Young Technology, Inc. 42,489 1,265,897 # Kolao Holdings 72,973 2,135,808 Kolon Corp. 34,739 650,748 #* Kolon Global Corp. 174,260 634,826 # Kolon Industries, Inc. 85,903 4,797,073 # Kolon Life Science, Inc. 14,779 1,077,549 #* Komipharm International Co., Ltd. 128,146 867,280 # KONA I Co., Ltd. 33,794 1,049,021 Kook Je Electric Korea Co., Ltd. 20,162 321,725 Kook Soon Dang Brewery Co., Ltd. 6,375 37,676 Korea Airport Service Co., Ltd. 5,490 112,232 # Korea Cast Iron Pipe Industries Co., Ltd. 8,530 30,884 #* Korea Circuit Co., Ltd. 51,766 656,989 Korea District Heating Corp. 15,021 1,405,166 Korea Electric Terminal Co., Ltd. 28,750 1,163,955 Korea Export Packaging Industrial Co., Ltd. 4,840 112,244 * Korea Flange Co., Ltd. 10,590 134,950 #* Korea Info & Comm 56,303 251,078 Korea Investment Holdings Co., Ltd. 153,470 5,987,403 # Korea Kolmar Co., Ltd. 58,990 1,272,765 # Korea Kolmar Holdings Co., Ltd. 33,913 330,834 #* Korea Petrochemical Ind Co., Ltd. 14,789 1,035,608 # Korea United Pharm, Inc. 49,100 494,498 * Korean Air Lines Co., Ltd. 17,100 545,414 Korean Reinsurance Co. 398,077 4,461,495 # Kortek Corp. 42,574 613,796 # KPF 42,149 277,558 KPX Chemical Co., Ltd. 6,479 423,604 * KSCB Co., Ltd. 7,972 36,494 * KT Hitel Co., Ltd. 34,702 272,822 KT Skylife Co., Ltd. 82,570 2,185,978 * KTB Investment & Securities Co., Ltd. 279,130 626,250 Kukdo Chemical Co., Ltd. 18,632 887,636 # Kumho Electric Co., Ltd. 18,040 445,697 * Kumho Industrial Co., Ltd. 28,638 281,547 * Kumho Investment Bank 1,231,520 759,380 * Kumho Tire Co., Inc. 277,399 3,236,664 #* Kun Wha Pharmaceutical Co., Ltd. 7,580 177,596 Kunsul Chemical Industrial Co., Ltd. 12,490 339,756 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ --------- ---------- SOUTH KOREA -- (Continued) # Kwang Dong Pharmaceutical Co., Ltd. 178,847 $1,228,308 #* Kwang Myung Electric Engineering Co., Ltd. 192,960 426,807 #* Kyeryong Construction Industrial Co., Ltd. 10,030 82,828 Kyobo Securities Co. 98,440 423,362 # Kyung Dong Navien Co., Ltd. 28,750 492,131 Kyung-In Synthetic Corp. 81,020 328,605 * Kyungbang, Ltd. 2,309 250,902 Kyungchang Industrial Co., Ltd. 3,525 31,946 KyungDong City Gas Co., Ltd. 10,786 886,033 Kyungdong Pharm Co., Ltd. 26,493 315,869 Kyungnam Energy Co., Ltd. 78,800 405,742 # L&F Co., Ltd. 33,852 341,070 #* LB Semicon, Inc. 158,270 318,242 # LEENO Industrial, Inc. 50,300 1,009,833 # LG Fashion Corp. 97,025 2,971,887 LG Hausys, Ltd. 32,510 3,934,933 #* LG Innotek Co., Ltd. 52,323 4,225,524 LG International Corp. 156,201 4,383,160 #* LG Life Sciences, Ltd. 51,993 2,296,959 LIG Insurance Co., Ltd. 199,300 4,960,451 # Livart Furniture Co., Ltd. 42,050 417,741 LMS Co., Ltd. 10,935 174,935 # Lock & Lock Co., Ltd. 132,290 3,445,136 #* Logistics Energy Korea Co., Ltd. 149,840 400,877 # Lotte Chilsung Beverage Co., Ltd. 3,090 4,589,321 Lotte Confectionery Co., Ltd. 2,641 4,528,865 Lotte Food Co., Ltd. 3,776 2,330,304 # LOTTE Himart Co., Ltd. 35,877 2,821,465 * Lotte Non-Life Insurance Co., Ltd. 113,024 320,122 * Lotte Tour Development Co., Ltd. 4,400 26,175 LS Corp. 18,266 1,365,241 # LS Industrial Systems Co., Ltd. 72,572 4,548,100 #* Lumens Co., Ltd. 171,451 1,538,456 Macquarie Korea Infrastructure Fund 1,468,851 9,136,011 #* Macrogen, Inc. 26,706 763,079 # Maeil Dairy Industry Co., Ltd. 34,032 1,403,623 # Mando Corp. 60,934 8,214,702 #* Medifron DBT Co., Ltd. 122,134 479,624 * Medipost Co., Ltd. 3,841 280,247 Medy-Tox, Inc. 20,205 3,329,666 MegaStudy Co., Ltd. 23,359 1,630,290 # Melfas, Inc. 80,390 809,994 Meritz Finance Group, Inc. 97,142 500,560 Meritz Fire & Marine Insurance Co., Ltd. 249,565 3,510,454 Meritz Securities Co., Ltd. 1,043,095 1,653,532 Mi Chang Oil Industrial Co., Ltd. 2,078 153,776 Mirae Asset Securities Co., Ltd. 119,464 4,029,036 * Miwon Chemicals Co., Ltd. 1,890 60,506 Miwon Commercial Co., Ltd. 716 129,468 * Miwon Specialty Chemical Co., Ltd. 1,041 368,846 MK Electron Co., Ltd. 86,407 383,716 # MNTech Co., Ltd. 86,871 629,494 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ------- ---------- SOUTH KOREA -- (Continued) # Modetour Network, Inc. 53,178 $1,121,413 # Monalisa Co., Ltd. 68,050 169,895 Moorim P&P Co., Ltd. 133,920 786,935 Motonic Corp. 55,530 498,900 Muhak Co., Ltd. 4,720 85,356 # Namhae Chemical Corp. 120,134 820,615 Namyang Dairy Products Co., Ltd. 1,390 1,133,846 National Plastic Co. 56,060 277,092 #* Neowiz Games Corp. 65,519 1,066,757 * NEOWIZ HOLDINGS Corp. 24,844 262,137 * Neowiz Internet Corp. 12,143 98,831 NEPES Corp. 94,472 906,990 # Nexen Corp. 33,168 2,337,815 # Nexen Tire Corp. 161,910 2,427,355 #* Nexolon Co., Ltd. 188,870 203,555 NH Investment & Securities Co., Ltd. 126,810 574,541 NICE Holdings Co., Ltd. 45,030 550,228 NICE Information Service Co., Ltd. 3,914 11,305 # NK Co., Ltd. 93,370 325,660 # Nong Shim Holdings Co., Ltd. 8,834 634,390 NongShim Co., Ltd. 16,201 3,923,176 Noroo Holdings Co., Ltd. 1,820 33,449 # OCI Materials Co., Ltd. 32,432 1,015,198 #* OPTRON-TEC, Inc. 75,216 813,063 #* Orientbio, Inc. 218,393 124,711 #* OSANGJAIEL Co., Ltd. 28,871 390,627 #* Osstem Implant Co., Ltd. 53,389 1,362,916 #* Osung LST Co., Ltd. 58,394 146,665 Ottogi Corp. 5,962 1,925,720 # Paik Kwang Industrial Co., Ltd. 63,931 226,466 # Pan-Pacific Co., Ltd. 31,120 91,530 #* PaperCorea, Inc. 147,900 111,627 # Paradise Co., Ltd. 30,135 772,318 # Partron Co., Ltd. 184,812 2,976,029 #* Pharmicell Co., Ltd. 129,934 550,175 # Poongsan Corp. 104,011 2,891,349 # Poongsan Holdings Corp. 16,717 442,999 # POSCO Chemtech Co., Ltd. 9,949 1,223,574 * POSCO Coated & Color Steel Co., Ltd. 4,130 54,541 # Posco ICT Co., Ltd. 199,854 1,541,787 # Posco M-Tech Co., Ltd. 73,994 493,509 #* Power Logics Co., Ltd. 112,474 544,522 #* PSK, Inc. 48,723 463,669 Pulmuone Holdings Co., Ltd. 4,811 237,826 # Pyeong Hwa Automotive Co., Ltd. 59,253 1,372,761 #* Redrover Co., Ltd. 93,761 789,148 Reyon Pharmaceutical Co., Ltd. 4,220 83,407 # RFsemi Technologies, Inc. 30,415 331,272 # S&T Corp. 5,003 88,588 S&T Dynamics Co., Ltd. 129,682 1,735,351 # S&T Holdings Co., Ltd. 21,808 406,579 # S&T Motiv Co., Ltd. 50,410 1,423,719 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ------- ---------- SOUTH KOREA -- (Continued) #* S&T Motors Co., Ltd. 188,180 $ 87,237 S-1 Corp. 68,527 4,086,666 # S-Energy Co., Ltd. 37,010 446,096 # S-MAC Co., Ltd. 72,183 916,112 # Saeron Automotive Corp. 2,640 20,172 #* Sajo Industries Co., Ltd. 11,014 306,339 * Sajodaerim Corp. 600 5,570 Sam Young Electronics Co., Ltd. 63,000 560,799 # Sam Yung Trading Co., Ltd. 54,602 870,997 Samchully Co., Ltd. 13,755 1,699,903 # SAMHWA Paints Industrial Co., Ltd. 9,000 78,304 #* Samick Musical Instruments Co., Ltd. 245,620 421,053 # Samick THK Co., Ltd. 35,630 265,445 # Samjin Pharmaceutical Co., Ltd. 57,606 733,101 # Samkwang Glass 14,944 747,417 # Samlip General Foods Co., Ltd. 9,750 456,766 # Samsung Fine Chemicals Co., Ltd. 93,648 4,232,869 * SAMT Co., Ltd. 34,735 71,543 #* Samyang Foods Co., Ltd. 17,230 396,174 Samyang Holdings Corp. 20,208 1,688,251 Samyang Tongsang Co., Ltd. 1,760 42,842 # Samyoung Chemical Co., Ltd. 173,170 399,770 # Sangbo Corp. 49,604 607,739 #* Sapphire Technology Co., Ltd. 17,767 750,100 # Satrec Initiative Co., Ltd. 5,805 103,918 SAVEZONE I&C Corp. 24,070 106,301 SBS Contents Hub Co., Ltd. 11,290 157,905 # SBS Media Holdings Co., Ltd. 192,730 839,441 #* SBW 340,780 247,543 # Seah Besteel Corp. 65,015 1,699,498 SeAH Holdings Corp. 4,622 428,452 SeAH Steel Corp. 10,931 929,365 # Sebang Co., Ltd. 51,495 926,906 #* Seegene, Inc. 35,327 1,925,749 # Sejong Industrial Co., Ltd. 48,360 758,015 Sempio Foods Co. 7,350 148,165 #* Seobu T&D 16,017 318,054 # Seohan Co., Ltd. 411,355 590,058 #* Seohee Construction Co., Ltd. 728,878 459,182 Seoul Semiconductor Co., Ltd. 36,969 1,538,274 Seowon Co., Ltd. 22,700 39,737 SEOWONINTECH Co., Ltd. 11,270 152,863 #* Sewon Cellontech Co., Ltd. 124,121 344,540 # SEWOONMEDICAL Co., Ltd. 95,161 313,358 # SFA Engineering Corp. 39,834 1,695,704 #* SG Corp. 575,100 377,257 #* SH Energy & Chemical Co., Ltd. 256,860 214,317 Shin Poong Pharmaceutical Co., Ltd. 133,125 638,770 * Shine Co., Ltd. 29,263 270,165 * Shinil Industrial Co., Ltd. 166,800 219,709 # Shinsegae Co., Ltd. 35,692 8,985,590 Shinsegae Information & Communication Co., Ltd. 3,374 221,350 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ --------- ---------- SOUTH KOREA -- (Continued) # Shinsegae International Co., Ltd. 9,083 $ 773,061 #* Shinsung Solar Energy Co., Ltd. 225,762 252,942 * Shinsung Tongsang Co., Ltd. 256,840 265,898 * Shinwon Corp. 19,980 23,493 Shinyoung Securities Co., Ltd. 14,050 555,497 #* Signetics Corp. 154,978 370,452 # SIGONG TECH Co., Ltd. 67,831 217,439 # Silicon Works Co., Ltd. 44,743 1,011,092 # Silla Co., Ltd. 36,700 1,011,575 Simm Tech Co., Ltd. 114,351 848,645 # SIMPAC, Inc. 73,030 434,188 Sindoh Co., Ltd. 10,939 721,242 # SJM Co., Ltd. 35,860 351,586 * SK Broadband Co., Ltd. 706,389 3,019,124 SK Chemicals Co., Ltd. 72,371 3,538,011 #* SK Communications Co., Ltd. 79,814 399,404 SK Gas Co., Ltd. 18,415 1,299,632 SK Networks Co., Ltd. 660,780 4,148,210 * SK Securities Co., Ltd. 1,344,790 1,018,148 # SKC Co., Ltd. 103,527 3,142,213 # SL Corp. 65,030 905,690 #* SM Culture & Contents Co., Ltd. 124,158 338,909 #* SM Entertainment Co. 66,758 2,523,286 * Solborn, Inc. 16,585 64,672 * Solco Biomedical Co., Ltd. 56,341 39,042 # Songwon Industrial Co., Ltd. 74,660 804,712 #* Sonokong Co., Ltd. 86,999 223,570 Soulbrain Co., Ltd. 15,801 788,368 * Ssangyong Cement Industrial Co., Ltd. 99,641 555,264 # Steel Flower Co., Ltd. 29,816 173,473 * STS Semiconductor & Telecommunications 20,624 77,001 STX Corp. Co., Ltd. 172,778 290,052 * STX Engine Co., Ltd. 115,112 568,670 * STX Offshore & Shipbuilding Co., Ltd. 320,930 937,905 #* STX Pan Ocean Co., Ltd. 342,221 362,765 Suheung Capsule Co., Ltd. 32,370 1,154,315 Sun Kwang Co., Ltd. 15,705 264,721 #* Sung Jin Geotec Co., Ltd. 59,220 516,886 Sung Kwang Bend Co., Ltd. 31,103 851,481 #* Sungchang Enterprise Holdings, Ltd. 23,520 392,709 * Sungshin Cement Co., Ltd. 40,950 216,145 Sungwoo Hitech Co., Ltd. 120,168 1,858,937 Sunjin Co., Ltd. 23,265 468,650 * Sunny Electronics Corp. 55,680 213,782 #* Suprema, Inc. 57,629 1,305,595 #* Synopex, Inc. 261,562 496,066 # Tae Kyung Industrial Co., Ltd. 33,700 149,042 Taekwang Industrial Co., Ltd. 1,928 2,382,523 #* Taesan LCD Co., Ltd. 3,402 10,411 #* Taewoong Co., Ltd. 45,326 1,351,300 Taeyoung Engineering & Construction Co., Ltd. 200,500 1,081,639 * Taihan Electric Wire Co., Ltd. 165,058 318,363 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ --------- ---------- SOUTH KOREA -- (Continued) Tailim Packaging Industrial Co., Ltd. 141,790 $ 347,576 # TCC Steel 35,939 123,461 #* Tera Resource Co., Ltd. 1,023,294 459,192 #* Tera Semicon Co., Ltd. 9,203 124,716 * TES Co Ltd/Korea 21,120 255,393 #* Theall Medi Bio 45,340 129,981 #* Theragen Etex Co., Ltd. 26,682 180,683 #* TK Chemical Corp. 222,222 350,188 # Tong Yang Moolsan Co., Ltd. 22,590 199,368 Tongyang Life Insurance 192,400 2,041,292 TONGYANG Securities, Inc. 12,966 29,511 #* Tongyang, Inc. 242,448 106,102 #* Top Engineering Co., Ltd. 43,811 194,402 #* Toptec Co., Ltd. 39,069 583,713 Tovis Co., Ltd. 29,767 236,495 #* Trais Co., Ltd. 69,289 182,545 # TS Corp. 18,630 491,341 #* UBCare Co., Ltd. 58,297 156,509 Ubiquoss, Inc. 8,722 64,827 #* Ubivelox, Inc. 15,537 259,250 # UI Display Co., Ltd. 34,401 378,976 # Uju Electronics Co., Ltd. 31,398 562,270 Unid Co., Ltd. 17,354 1,088,495 Union Steel 8,052 117,342 #* Uniquest Corp. 14,210 181,961 * Unison Co., Ltd. 99,851 419,093 # Value Added Technologies Co., Ltd. 39,778 460,142 #* VGX International, Inc. 145,790 199,943 # Vieworks Co., Ltd. 37,657 989,103 # Visang Education, Inc. 28,772 336,238 #* Webzen, Inc. 31,367 250,041 #* WeMade Entertainment Co., Ltd. 29,203 1,300,446 # Whanin Pharmaceutical Co., Ltd. 43,130 446,268 #* WillBes & Co. (The) 269,780 274,215 #* WiSoL Co., Ltd. 50,781 589,954 #* Wonik IPS Co., Ltd. 122,259 1,009,930 Woojeon & Handan Co., Ltd. 42,358 400,628 #* Woongjin Chemical Co., Ltd. 121,710 1,093,013 #* Woongjin Energy Co., Ltd. 212,231 429,766 #* Woongjin Thinkbig Co., Ltd. 72,299 412,892 # Wooree ETI Co., Ltd. 139,474 402,852 Woori Financial Co., Ltd. 54,928 1,147,105 Woori Investment & Securities Co., Ltd. 617,082 6,517,131 #* Wooridul Life Sciences, Ltd. 119,500 57,468 # WooSung Feed Co., Ltd. 86,370 226,904 # Y G-1 Co., Ltd. 70,378 812,395 YESCO Co., Ltd. 13,100 432,306 # YG Entertainment, Inc. 26,398 1,271,308 # Yoosung Enterprise Co., Ltd. 62,110 296,418 # YooSung T&S Co., Ltd. 23,393 47,426 Youlchon Chemical Co., Ltd. 59,750 701,014 # Young Poong Corp. 2,389 3,177,765 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ --------- ------------ SOUTH KOREA -- (Continued) * Young Poong Mining & Construction Corp. 1,580 $ -- # Young Poong Precision Corp. 35,929 338,019 # Youngone Corp. 103,584 3,505,263 # Youngone Holdings Co., Ltd. 28,420 1,730,847 Yuhan Corp. 44,525 7,832,835 YuHwa Securities Co., Ltd. 13,060 145,652 #* Yungjin Pharmaceutical Co., Ltd. 469,292 782,984 ------------ TOTAL SOUTH KOREA 604,680,519 ------------ TAIWAN -- (13.9%) # A-DATA Technology Co., Ltd. 1,078,000 3,174,165 Ability Enterprise Co., Ltd. 1,749,076 1,318,913 AcBel Polytech, Inc. 1,849,599 1,871,911 Accton Technology Corp. 2,461,763 1,344,908 # Ace Pillar Co., Ltd. 254,008 271,449 ACES Electronic Co., Ltd. 421,000 312,479 ACHEM TECHNOLOGY Corp. 831,764 478,374 #* Acme Electronics Corp. 542,295 696,054 Acter Co., Ltd. 180,000 769,533 * Action Electronics Co., Ltd. 761,635 160,876 Actron Technology Corp. 263,150 1,068,017 # Adlink Technology, Inc. 473,985 882,769 # Advanced Ceramic X Corp. 222,000 988,763 Advanced International Multitech Co., Ltd. 425,000 461,965 # Advancetek Enterprise Co., Ltd. 638,917 767,500 * AGV Products Corp. 2,428,801 793,830 # AimCore Technology Co., Ltd. 245,589 361,919 # Airtac International Group 19,260 139,375 # Alcor Micro Corp. 379,000 360,134 # ALI Corp. 1,479,000 1,603,907 Allis Electric Co., Ltd. 54,000 18,393 Alltop Technology Co., Ltd. 54,000 47,897 # Alpha Networks, Inc. 1,582,763 1,028,290 Altek Corp. 1,893,637 1,439,730 Ambassador Hotel (The) 1,385,000 1,378,868 # AMPOC Far-East Co., Ltd. 450,444 383,342 AmTRAN Technology Co., Ltd. 4,067,951 2,604,946 # Anpec Electronics Corp. 577,000 398,851 # Apacer Technology, Inc. 541,576 568,912 APCB, Inc. 719,000 447,541 # Apex Biotechnology Corp. 465,483 1,243,143 Apex International Co., Ltd. 255,000 327,041 # Apex Medical Corp. 325,500 393,487 Apex Science & Engineering 140,907 79,978 Arcadyan Technology Corp. 95,000 131,686 Ardentec Corp. 1,433,992 959,853 * Arima Communications Corp. 911,719 462,910 * Asia Optical Co., Inc. 1,143,000 1,135,380 # Asia Plastic Recycling Holding, Ltd. 289,726 864,836 Asia Polymer Corp. 1,439,484 1,261,395 Asia Vital Components Co., Ltd. 1,548,058 897,048 ASROCK, Inc. 192,000 646,010 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ --------- ---------- TAIWAN -- (Continued) Aten International Co., Ltd. 430,479 $1,124,863 Audix Corp. 519,000 550,538 AURAS Technology Co., Ltd. 99,585 67,999 Aurora Corp. 541,499 1,133,262 AV Tech Corp. 198,000 596,909 Avermedia Technologies 701,446 342,200 * Avision, Inc. 729,000 284,158 AVY Precision Technology, Inc. 235,000 400,228 Awea Mechantronic Co., Ltd. 137,200 164,926 Bank of Kaohsiung 1,946,054 628,765 Basso Industry Corp. 581,000 674,158 * BenQ Materials Corp. 751,000 547,699 # BES Engineering Corp. 6,859,750 2,100,050 # Bin Chuan Enterprise Co., Ltd. 172,542 158,858 # Bionet Corp. 191,000 302,363 # Biostar Microtech International Corp. 865,975 316,342 # Boardtek Electronics Corp. 783,000 957,661 * Bright Led Electronics Corp. 601,520 262,473 C Sun Manufacturing, Ltd. 698,221 495,121 Cameo Communications, Inc. 1,147,818 377,262 Capella Microsystems Taiwan, Inc. 161,598 572,637 # Capital Securities Corp. 8,209,142 2,811,949 # Career Technology MFG. Co., Ltd. 1,388,000 1,321,962 # Carnival Industrial Corp. 1,753,000 527,815 Cathay Chemical Works 30,000 17,883 Cathay Real Estate Development Co., Ltd. 3,801,000 2,650,549 Celxpert Energy Corp. 164,000 87,673 #* Center Laboratories, Inc. 487,693 1,101,432 Central Reinsurance Co., Ltd. 867,410 391,601 ChainQui Construction Development Co., Ltd. 360,083 262,901 Chaintech Technology Corp. 173,241 243,813 * Champion Building Materials Co., Ltd. 1,757,851 788,833 # Chang Wah Electromaterials, Inc. 196,132 534,165 Channel Well Technology Co., Ltd. 53,000 25,298 # Charoen Pokphand Enterprise 867,000 454,907 # Chaun-Choung Technology Corp. 330,000 635,971 CHC Resources Corp. 329,348 671,725 Chen Full International Co., Ltd. 152,000 136,466 Chenbro Micom Co., Ltd. 294,000 344,345 Cheng Loong Corp. 4,169,383 1,971,906 # Cheng Uei Precision Industry Co., Ltd. 1,982,331 4,157,201 #* Chenming Mold Industry Corp. 610,437 497,910 Chia Chang Co., Ltd. 547,000 710,960 * Chia Hsin Cement Corp. 2,128,121 1,086,225 # Chien Kuo Construction Co., Ltd. 1,436,312 690,682 Chilisin Electronics Corp. 505,572 485,976 Chime Ball Technology Co., Ltd. 143,000 328,477 # Chimei Materials Technology Corp. 698,000 714,566 # Chin-Poon Industrial Co. 1,754,207 2,927,670 China Chemical & Pharmaceutical Co., Ltd. 1,394,000 1,191,530 # China Ecotek Corp. 187,000 501,565 # China Electric Manufacturing Corp. 1,435,900 683,690 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ---------- ---------- TAIWAN -- (Continued) China General Plastics Corp. 1,636,640 $1,012,277 China Glaze Co., Ltd. 654,139 315,774 * China Manmade Fibers Corp. 5,236,879 2,224,482 # China Metal Products 1,312,003 1,943,510 China Motor Corp. 586,609 560,576 * China Rebar Co., Ltd. 55,174 -- # China Steel Chemical Corp. 543,554 3,256,987 # China Steel Structure Co., Ltd. 655,000 815,054 China Synthetic Rubber Corp. 2,303,563 2,233,753 * China United Trust & Investment Corp 164,804 -- * China Wire & Cable Co., Ltd. 592,000 277,184 Chinese Gamer International Corp. 155,000 268,194 Chinese Maritime Transport, Ltd. 543,850 699,944 Chong Hong Construction Co. 657,646 2,161,230 * Chou Chin Industrial Co., Ltd 825 -- Chroma ATE, Inc. 1,531,821 3,263,037 * Chun YU Works & Co., Ltd. 1,148,000 436,371 Chun Yuan Steel 1,955,529 749,027 Chung Hsin Electric & Machinery Manufacturing Corp. 1,995,000 1,554,240 * Chung Hung Steel Corp. 3,863,979 1,106,503 * Chung Hwa Pulp Corp. 2,616,031 842,471 Chunghwa Chemical Synthesis & Biotech Co., Ltd. 256,000 515,799 * Chunghwa Picture Tubes, Ltd. 16,151,000 885,862 * Chyang Sheng Dyeing & Finishing Co., Ltd. 45,000 24,324 Cleanaway Co., Ltd. 173,000 1,080,658 Clevo Co. 2,044,200 4,346,256 #* CMC Magnetics Corp. 13,033,960 2,196,661 CoAsia Microelectronics Corp. 472,500 258,058 Collins Co., Ltd. 565,431 210,294 # Compal Communications, Inc. 1,459,000 2,496,168 Compeq Manufacturing Co. 4,826,000 2,438,111 * Concord Securities Corp. 1,491,000 390,612 Continental Holdings Corp. 1,959,067 713,675 Coretronic Corp. 3,332,000 2,914,289 * Cosmo Electronics Corp. 300,137 329,009 * Cosmos Bank Taiwan 1,044,926 521,264 # Coxon Precise Industrial Co., Ltd. 525,000 924,327 Creative Sensor, Inc. 85,000 51,172 #* Crystalwise Technology, Inc. 521,000 403,266 # CSBC Corp. Taiwan 1,909,610 1,218,105 Cub Elecparts, Inc. 7,000 22,954 CviLux Corp. 353,039 423,262 Cyberlink Corp. 413,697 1,205,332 # CyberPower Systems, Inc. 211,000 406,156 # CyberTAN Technology, Inc. 1,260,779 1,436,224 D-Link Corp. 2,875,665 1,740,211 DA CIN Construction Co., Ltd. 910,711 807,727 # Da-Li Construction Co., Ltd. 459,220 531,259 Dah Fung CATV Co., Ltd. 265,540 515,907 Darfon Electronics Corp. 1,333,550 1,011,466 Davicom Semiconductor, Inc. 351,888 238,685 # Daxin Materials Corp. 192,000 421,545 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ --------- ---------- TAIWAN -- (Continued) De Licacy Industrial Co. 70,000 $ 26,273 # Delpha Construction Co., Ltd. 991,931 403,406 Depo Auto Parts Ind Co., Ltd. 497,000 1,744,538 * Der Pao Construction Co., Ltd. 476,000 -- DFI, Inc. 164,524 180,961 Dimerco Express Corp. 373,000 234,453 # DYNACOLOR, Inc. 224,000 520,709 #* Dynamic Electronics Co., Ltd. 1,275,321 499,958 # Dynapack International Technology Corp. 607,000 1,729,915 #* E Ink Holdings, Inc. 3,975,000 2,231,585 # E-Lead Electronic Co., Ltd. 307,942 488,024 E-LIFE MALL Corp. 362,000 831,600 #* E-Ton Solar Tech Co., Ltd. 2,396,209 1,474,132 * Eastern Media International Corp. 4,196,337 692,736 Edimax Technology Co., Ltd. 850,108 378,864 Edison Opto Corp. 435,000 514,792 Edom Technology Co., Ltd. 172,776 83,501 # eGalax_eMPIA Technology, Inc. 220,255 560,825 # Elan Microelectronics Corp. 1,655,715 2,506,135 # Elite Advanced Laser Corp. 360,000 878,037 Elite Material Co., Ltd. 1,353,350 1,121,093 Elite Semiconductor Memory Technology, Inc. 1,242,200 1,633,417 Elitegroup Computer Systems Co., Ltd. 3,206,182 1,377,547 # eMemory Technology, Inc. 328,000 803,431 # ENG Electric Co., Ltd. 671,580 560,883 Entie Commercial Bank 1,833,603 944,730 * Episil Technologies, Inc. 873,000 302,762 Eternal Chemical Co., Ltd. 3,361,794 3,073,225 * Etron Technology, Inc. 1,395,000 676,578 * Everest Textile Co., Ltd. 1,017,562 298,280 Evergreen International Storage & Transport Corp. 2,516,000 1,709,198 Everlight Chemical Industrial Corp. 1,737,933 1,607,492 Everlight Electronics Co., Ltd. 1,685,000 3,183,685 #* Everspring Industry Co. 501,000 297,123 # Excelsior Medical Co., Ltd. 487,654 1,076,207 # Far Eastern International Bank 6,577,820 2,729,911 # Faraday Technology Corp. 1,679,648 1,914,998 * Farglory F T Z Investment Holding Co., Ltd. 142,000 108,926 Federal Corp. 2,183,666 1,721,940 Feedback Technology Corp. 172,000 332,288 Feng Hsin Iron & Steel Co. 1,688,100 3,072,008 Feng TAY Enterprise Co., Ltd. 1,346,806 3,530,043 Fine Blanking & Tool Co., Ltd. 13,000 18,812 # Firich Enterprises Co., Ltd. 788,719 3,243,018 #* First Copper Technology Co., Ltd. 929,000 301,740 First Hotel 720,212 463,744 First Insurance Co., Ltd. 1,054,179 698,622 First Steamship Co., Ltd. 1,788,218 1,234,361 # FLEXium Interconnect, Inc. 812,839 2,531,810 Flytech Technology Co., Ltd. 418,838 1,554,704 Forhouse Corp. 1,902,635 727,501 Formosa Advanced Technologies Co., Ltd. 604,000 372,995 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ --------- ---------- TAIWAN -- (Continued) #* Formosa Epitaxy, Inc. 1,937,811 $1,178,961 # Formosa International Hotels Corp. 158,243 1,905,510 #* Formosa Laboratories, Inc. 211,686 538,265 Formosa Oilseed Processing 304,567 147,258 # Formosa Optical Technology Co., Ltd. 239,000 852,822 Formosan Rubber Group, Inc. 2,028,000 1,924,275 # Formosan Union Chemical 1,222,218 586,315 # Fortune Electric Co., Ltd. 502,078 313,462 Founding Construction & Development Co., Ltd. 895,317 588,826 # Foxlink Image Technology Co., Ltd. 619,000 389,796 * Froch Enterprise Co., Ltd. 843,000 275,304 FSP Technology, Inc. 810,887 748,769 # Fullerton Technology Co., Ltd. 505,600 416,178 #* Fulltech Fiber Glass Corp. 1,411,084 571,274 Fwusow Industry Co., Ltd. 750,186 461,327 G Shank Enterprise Co., Ltd. 1,056,013 653,828 # G Tech Optoelectronics Corp. 798,000 1,395,843 * Gallant Precision Machining Co., Ltd. 21,000 8,996 * Gamania Digital Entertainment Co., Ltd. 604,000 494,583 GEM Terminal Industrial Co., Ltd. 23,386 9,240 # Gemtek Technology Corp. 1,447,219 1,404,712 General Plastic Industrial Co., Ltd. 137,553 145,695 #* Genesis Photonics, Inc. 975,363 574,040 # Genius Electronic Optical Co., Ltd. 243,427 989,044 Genmont Biotech, Inc. 242,000 380,633 # GeoVision, Inc. 223,527 1,467,521 # Getac Technology Corp. 2,105,360 1,159,260 #* Giantplus Technology Co., Ltd. 204,900 61,886 # Giga Solar Materials Corp. 87,400 914,538 # Giga Solution Tech Co., Ltd. 525,446 283,198 Gigabyte Technology Co., Ltd. 2,532,800 2,827,811 #* Gigastorage Corp. 1,377,561 1,111,030 * Gintech Energy Corp. 1,205,936 1,296,835 * Global Brands Manufacture, Ltd. 1,376,359 491,229 Global Lighting Technologies, Inc. 248,000 251,742 # Global Mixed Mode Technology, Inc. 381,000 1,014,420 # Global Unichip Corp. 398,000 990,468 * Globe Union Industrial Corp. 809,944 615,729 Gloria Material Technology Corp. 2,195,565 1,502,292 * Gold Circuit Electronics, Ltd. 2,165,227 565,611 Goldsun Development & Construction Co., Ltd. 6,500,722 2,687,588 Good Will Instrument Co., Ltd. 200,703 123,435 # Gourmet Master Co., Ltd. 202,000 1,344,771 Grand Pacific Petrochemical 4,244,000 3,275,654 Grape King Industrial Co. 460,000 2,214,326 # Great China Metal Industry 754,000 895,406 Great Taipei Gas Co., Ltd. 1,467,000 1,109,400 Great Wall Enterprise Co., Ltd. 1,939,057 1,747,624 #* Green Energy Technology, Inc. 977,457 865,208 #* GTM Corp. 679,000 366,912 # Gudeng Precision Industrial Co., Ltd. 170,200 304,353 Hannstar Board Corp. 1,493,049 606,688 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ---------- ---------- TAIWAN -- (Continued) * HannStar Display Corp. 10,217,495 $3,421,113 * HannsTouch Solution, Inc. 3,934,130 1,274,467 * Harvatek Corp. 728,623 300,186 Hey Song Corp. 1,877,000 2,153,028 # Hi-Clearance, Inc. 104,000 322,379 Hiroca Holdings, Ltd. 12,100 34,211 #* HiTi Digital, Inc. 253,467 235,363 Hitron Technology, Inc. 991,213 531,764 * Hiyes International Co., Ltd. 5,043 6,828 Ho Tung Chemical Corp. 3,549,191 1,732,876 #* Hocheng Corp. 1,275,700 491,013 Hold-Key Electric Wire & Cable Co., Ltd. 205,908 73,646 # Holiday Entertainment Co., Ltd. 248,800 303,803 Holtek Semiconductor, Inc. 829,000 1,276,015 Holy Stone Enterprise Co., Ltd. 1,020,728 1,287,967 Hong Ho Precision Textile Co 40,000 45,609 Hong TAI Electric Industrial 1,201,000 408,837 Hong YI Fiber Industry Co. 75,652 25,305 Horizon Securities Co., Ltd. 1,910,000 578,016 #* Hota Industrial Manufacturing Co., Ltd. 817,000 1,343,579 #* Howarm Construction Co., Ltd. 683,811 413,276 Hsin Kuang Steel Co., Ltd. 1,317,443 839,683 Hsin Yung Chien Co., Ltd. 151,000 405,282 Hsing TA Cement Co. 620,000 234,002 Hu Lane Associate, Inc. 240,559 790,682 HUA ENG Wire & Cable 2,359,565 935,815 * Hua Yu Lien Development Co., Ltd. 3,701 6,690 Huaku Development Co., Ltd. 1,128,816 3,161,368 Huang Hsiang Construction Co. 568,800 1,142,455 Hung Ching Development & Construction Co., Ltd. 449,000 288,850 Hung Poo Real Estate Development Corp. 1,293,185 1,343,369 Hung Sheng Construction Co., Ltd. 2,545,400 2,174,604 Huxen Corp. 268,244 423,892 * Hwa Fong Rubber Co., Ltd. 970,670 440,392 # I-Chiun Precision Industry Co., Ltd. 924,313 600,711 I-Sheng Electric Wire & Cable Co., Ltd. 547,000 800,482 Ibase Technology, Inc. 433,719 628,172 Ichia Technologies, Inc. 1,679,000 882,079 # ICP Electronics, Inc. 905,300 1,247,806 # ILI Technology Corp. 302,383 622,996 Infortrend Technology, Inc. 864,163 519,012 * Inotera Memories, Inc. 5,086,000 3,279,587 # Insyde Software Corp. 107,000 190,025 # Integrated Memory Logic, Ltd. 263,001 601,826 International Games System Co., Ltd. 299,000 586,763 ITE Technology, Inc. 619,095 525,017 ITEQ Corp. 1,193,614 1,327,537 #* J Touch Corp. 601,000 456,283 * Janfusun Fancyworld Corp. 823,564 161,130 * Jenn Feng New Energy Co., Ltd. 286,000 100,922 Jentech Precision Industrial Co., Ltd. 290,868 612,668 Jess-Link Products Co., Ltd. 776,900 721,904 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ --------- ---------- TAIWAN -- (Continued) Jih Sun Financial Holdings Co., Ltd. 2,960,142 $ 849,235 # Johnson Health Tech Co., Ltd. 294,221 840,611 # K Laser Technology, Inc. 228,000 131,375 Kang Na Hsiung Enterprise Co., Ltd. 489,020 290,930 * Kao Hsing Chang Iron & Steel 784,000 307,679 # Kaori Heat Treatment Co., Ltd. 341,210 689,047 Kaulin Manufacturing Co., Ltd. 664,330 550,284 KD Holding Corp. 40,000 257,280 KEE TAI Properties Co., Ltd. 1,903,473 1,367,241 * Kenmec Mechanical Engineering Co., Ltd. 842,000 433,901 Kerry TJ Logistics Co., Ltd. 1,609,000 2,256,451 Keysheen Cayman Holdings Co., Ltd. 2,000 3,837 # Kindom Construction Co. 1,646,000 2,034,626 King Slide Works Co., Ltd. 241,550 2,138,049 King Yuan Electronics Co., Ltd. 5,488,979 3,827,433 King's Town Bank 3,714,701 3,304,646 #* King's Town Construction Co., Ltd. 929,210 899,106 Kinik Co. 594,000 1,483,960 # Kinko Optical Co., Ltd. 747,000 766,843 Kinpo Electronics 5,249,157 2,339,341 # KMC Kuei Meng International, Inc. 35,875 158,656 KS Terminals, Inc. 407,482 395,755 Kung Long Batteries Industrial Co., Ltd. 308,000 846,996 # Kung Sing Engineering Corp. 1,486,000 743,121 # Kuo Toong International Co., Ltd. 649,000 878,040 # Kuoyang Construction Co., Ltd. 2,228,384 1,489,920 Kwong Fong Industries 1,305,760 972,226 KYE Systems Corp. 1,372,903 591,084 L&K Engineering Co., Ltd. 623,048 650,923 LAN FA Textile 826,933 267,484 Laser Tek Taiwan Co., Ltd. 46,504 27,846 LCY Chemical Corp. 441,383 582,657 # Leader Electronics, Inc. 653,000 324,528 # Leadtrend Technology Corp. 162,086 212,238 Lealea Enterprise Co., Ltd. 3,260,542 1,198,673 Ledtech Electronics Corp. 207,000 130,404 # LEE CHI Enterprises Co., Ltd. 886,000 440,379 #* Leofoo Development Co. 1,394,000 594,530 # LES Enphants Co., Ltd. 850,754 656,157 # Lextar Electronics Corp. 1,179,500 1,007,825 * Li Peng Enterprise Co., Ltd. 2,720,388 1,349,879 # Lian HWA Food Corp. 312,289 416,285 Lien Hwa Industrial Corp. 2,446,676 1,581,787 Lingsen Precision Industries, Ltd. 1,727,506 896,664 Lite-On Semiconductor Corp. 1,454,730 876,930 # Long Bon International Co., Ltd. 1,495,945 1,200,157 Long Chen Paper Co., Ltd. 2,107,239 832,207 # Longwell Co. 539,000 478,345 Lotes Co., Ltd. 273,778 672,085 * Lucky Cement Corp. 677,000 185,520 # Lumax International Corp., Ltd. 448,769 1,145,194 Macroblock, Inc. 141,000 323,706 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ---------- ---------- TAIWAN -- (Continued) #* Macronix International 17,113,481 $4,000,524 MacroWell OMG Digital Entertainment Co., Ltd. 38,000 107,288 Mag Layers Scientific-Technics Co., Ltd. 7,337 12,084 Makalot Industrial Co., Ltd. 683,202 4,124,280 Marketech International Corp. 612,000 373,298 Masterlink Securities Corp. 4,448,000 1,467,762 Mayer Steel Pipe Corp. 842,567 406,561 Maywufa Co., Ltd. 170,322 96,458 #* Medigen Biotechnology Corp. 428,290 3,015,808 Meiloon Industrial Co. 393,809 304,227 Mercuries & Associates, Ltd. 1,478,991 1,111,547 Merry Electronics Co., Ltd. 966,169 3,308,291 Micro-Star International Co., Ltd. 3,332,075 2,239,650 #* Microbio Co., Ltd. 1,664,607 1,964,804 #* Microelectronics Technology, Inc. 1,074,019 694,723 Microlife Corp. 167,600 473,054 # MIN AIK Technology Co., Ltd. 674,316 3,408,397 Mirle Automation Corp. 698,009 596,288 * Mitac Holdings Corp. 2,729,000 2,507,973 * Mosel Vitelic, Inc. 1,924,014 440,841 * Motech Industries, Inc. 1,592,000 2,962,093 MPI Corp. 320,000 558,650 # Nak Sealing Technologies Corp. 248,954 642,263 # Namchow Chemical Industrial, Ltd. 760,000 1,281,486 # Nan Kang Rubber Tire Co., Ltd. 2,218,952 2,851,626 * Nan Ren Lake Leisure Amusement Co., Ltd. 917,000 421,085 #* Nan Ya Printed Circuit Board Corp. 1,197,000 1,616,810 # Nantex Industry Co., Ltd. 1,232,844 875,102 * Nanya Technology Corp. 2,937,000 407,692 National Petroleum Co., Ltd. 763,824 731,740 #* Neo Solar Power Corp. 2,859,190 3,046,775 Netronix, Inc. 319,000 795,484 New Asia Construction & Development Corp. 732,835 193,951 New Era Electronics Co., Ltd. 380,000 487,030 #* Newmax Technology Co., Ltd. 370,009 1,225,372 Nexcom International Co., Ltd. 232,257 179,714 Nichidenbo Corp. 451,340 396,216 Nien Hsing Textile Co., Ltd. 1,173,436 1,273,139 Nishoku Technology, Inc. 124,000 175,191 # Nuvoton Technology Corp. 308,000 242,009 O-TA Precision Industry Co., Ltd. 17,000 11,920 #* Ocean Plastics Co., Ltd. 812,200 1,017,104 Oneness Biotech Co., Ltd. 281,000 483,261 OptoTech Corp. 2,758,886 1,140,880 * Orient Semiconductor Electronics, Ltd. 2,708,000 469,400 Oriental Union Chemical Corp. 2,859,267 3,040,712 # Orise Technology Co., Ltd. 343,000 532,387 P-Two Industries, Inc. 49,000 24,668 # Pacific Construction Co. 950,921 336,229 * Pan Jit International, Inc. 1,533,541 662,170 # Pan-International Industrial 1,761,331 1,409,601 Parade Technologies, Ltd. 50,401 376,831 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ---------- ---------- TAIWAN -- (Continued) Paragon Technologies Co., Ltd. 371,246 $ 477,168 # PChome Online, Inc. 262,000 1,522,396 * PharmaEngine, Inc. 159,755 1,436,156 Phihong Technology Co., Ltd. 1,170,901 722,702 Phoenix Tours International, Inc. 273,000 525,375 #* Phytohealth Corp. 472,929 698,573 * Picvue Electronics, Ltd. 72,760 -- #* Pihsiang Machinery Manufacturing Co., Ltd. 547,534 590,727 Pixart Imaging, Inc. 666,150 1,264,092 Plotech Co., Ltd. 115,000 40,927 # Polytronics Technology Corp. 280,027 568,931 # Portwell, Inc. 457,000 427,191 Posiflex Technologies, Inc. 86,940 278,278 * Potrans Electrical Corp. 228,000 -- * Power Quotient International Co., Ltd. 796,600 503,148 * Powercom Co., Ltd. 867,140 165,975 Powertech Industrial Co., Ltd. 367,000 212,099 Poya Co., Ltd. 254,520 1,338,487 President Securities Corp. 3,460,488 1,949,604 # Prime Electronics Satellitics, Inc. 670,822 524,570 Prince Housing & Development Corp. 4,234,760 2,728,229 * Procomp Informatics, Ltd. 21,675 -- * Prodisc Technology, Inc. 1,707,199 -- # Promate Electronic Co., Ltd. 732,000 765,783 # Promise Technology, Inc. 638,286 727,975 * Protop Technology Co., Ltd 192,000 -- * Qisda Corp. 6,881,900 1,596,802 # Qualipoly Chemical Corp. 275,000 242,767 Quanta Storage, Inc. 723,000 752,917 * Quintain Steel Co., Ltd. 1,777,824 412,035 # Radium Life Tech Co., Ltd. 2,397,235 2,097,663 Ralec Electronic Corp. 103,209 151,954 Realtek Semiconductor Corp. 931,644 2,165,952 Rechi Precision Co., Ltd. 1,169,448 1,167,844 * Rexon Industrial Corp., Ltd. 94,392 41,614 # Rich Development Co., Ltd. 2,669,036 1,146,423 Richtek Technology Corp. 654,000 2,947,208 #* Ritek Corp. 13,129,387 2,131,163 Rotam Global Agrosciences, Ltd. 12,000 22,056 Ruentex Engineering & Construction Co. 35,000 67,824 # Run Long Construction Co., Ltd. 380,000 413,906 * Sainfoin Technology Corp. 131,260 -- Sampo Corp. 2,833,327 993,999 San Fang Chemical Industry Co., Ltd. 612,632 585,298 San Shing Fastech Corp. 248,040 560,814 Sanyang Industry Co., Ltd. 3,375,628 5,907,287 Sanyo Electric Taiwan Co., Ltd. 496,400 652,486 SCI Pharmtech, Inc. 136,091 324,749 # SDI Corp. 601,000 669,827 Senao International Co., Ltd. 445,541 1,422,843 # Sercomm Corp. 839,000 1,171,384 # Sesoda Corp. 692,212 744,842 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ --------- ---------- TAIWAN -- (Continued) Shan-Loong Transportation Co., Ltd. 29,000 $ 23,836 Sheng Yu Steel Co., Ltd. 605,980 463,470 # ShenMao Technology, Inc. 441,891 516,082 Shih Her Technologies, Inc. 95,000 207,599 Shih Wei Navigation Co., Ltd. 996,183 714,852 Shihlin Electric & Engineering Corp. 1,301,000 1,644,731 * Shihlin Paper Corp. 555,000 882,674 Shin Hai Gas Corp. 1,113 1,484 # Shin Zu Shing Co., Ltd. 615,144 1,355,219 #* Shining Building Business Co., Ltd. 1,208,770 940,631 Shinkong Insurance Co., Ltd. 1,052,131 819,127 Shinkong Synthetic Fibers Corp. 7,179,395 2,480,749 Shinkong Textile Co., Ltd. 1,068,542 1,436,301 Shiny Chemical Industrial Co., Ltd. 243,000 424,375 Shuttle, Inc. 1,381,152 604,309 Sigurd Microelectronics Corp. 1,698,974 1,645,925 #* Silicon Integrated Systems Corp. 2,908,820 905,112 Silicon Power Computer & Communications, Inc. 228,000 312,827 # Silitech Technology Corp. 459,848 594,257 # Sinbon Electronics Co., Ltd. 934,000 1,111,253 Sincere Navigation Corp. 1,460,786 1,357,844 # Singatron Enterprise Co., Ltd. 437,000 234,905 * Sinkang Industries, Ltd. 153,521 55,033 Sinmag Equipment Corp. 138,810 666,125 #* Sino-American Silicon Products, Inc. 2,409,000 3,339,500 # Sinon Corp. 1,748,510 979,348 # Sinphar Pharmaceutical Co., Ltd. 572,588 1,004,270 Sinyi Realty Co. 832,286 1,523,545 # Sirtec International Co., Ltd. 603,000 1,158,880 Sitronix Technology Corp. 524,879 875,549 * Siward Crystal Technology Co., Ltd. 536,000 252,177 Soft-World International Corp. 550,000 1,240,689 Solar Applied Materials Technology Co. 1,603,581 1,365,332 #* Solartech Energy Corp. 254,000 216,404 Solomon Technology Corp. 142,723 62,308 #* Solytech Enterprise Corp. 974,000 361,089 Sonix Technology Co., Ltd. 806,000 1,097,413 # Southeast Cement Co., Ltd. 1,053,700 609,495 Spirox Corp. 66,000 27,956 # Sporton International, Inc. 188,829 680,098 St Shine Optical Co., Ltd. 177,000 5,213,059 Standard Chemical & Pharma 461,571 807,267 * Star Comgistic Capital Co., Ltd. 1,020,713 420,382 Stark Technology, Inc. 598,860 621,236 Sunonwealth Electric Machine Industry Co., Ltd. 662,487 384,336 * Sunplus Technology Co., Ltd. 1,808,000 661,321 Sunrex Technology Corp. 914,736 383,257 Sunspring Metal Corp. 221,000 654,429 * Super Dragon Technology Co., Ltd. 159,382 111,178 Supreme Electronics Co., Ltd. 856,000 434,400 Swancor Ind Co., Ltd. 211,000 452,611 Sweeten Construction Co., Ltd. 577,206 374,256 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ---------- ---------- TAIWAN -- (Continued) Syncmold Enterprise Corp. 525,000 $ 901,342 # Synmosa Biopharma Corp. 448,695 663,574 Sysage Technology Co., Ltd. 352,800 376,508 Systex Corp. 242,388 460,007 TA Chen Stainless Pipe 2,808,248 1,344,898 * Ta Chong Bank, Ltd. 7,611,897 2,670,041 * Ta Chong Securities Co., Ltd. 209,000 63,966 Ta Ya Electric Wire & Cable 2,645,306 628,374 Ta Yih Industrial Co., Ltd. 194,000 386,982 # TA-I Technology Co., Ltd. 774,972 401,459 # Tah Hsin Industrial Co., Ltd. 474,000 463,077 TAI Roun Products Co., Ltd. 239,000 81,338 # Tai Tung Communication Co., Ltd. 115,000 145,861 # Taichung Commercial Bank 9,445,069 3,502,722 # TaiDoc Technology Corp. 184,000 499,391 Taiflex Scientific Co., Ltd. 865,000 1,795,190 # Taimide Tech, Inc. 446,000 366,124 Tainan Enterprises Co., Ltd. 643,370 729,313 Tainan Spinning Co., Ltd. 4,952,172 3,732,490 #* Taisun Enterprise Co., Ltd. 1,425,428 731,378 * Taita Chemical Co., Ltd. 741,951 317,403 # Taiwan Acceptance Corp. 390,480 979,656 Taiwan Calsonic Co., Ltd. 33,000 32,740 Taiwan Chinsan Electronic Industrial Co., Ltd. 378,000 613,676 Taiwan Cogeneration Corp. 1,625,566 1,006,850 Taiwan FamilyMart Co., Ltd. 20,000 108,923 Taiwan Fire & Marine Insurance Co. 1,055,338 841,821 * Taiwan Flourescent Lamp Co., Ltd. 176,000 -- Taiwan FU Hsing Industrial Co., Ltd. 670,000 752,192 Taiwan Hon Chuan Enterprise Co., Ltd. 1,216,814 2,564,838 Taiwan Hopax Chemicals Manufacturing Co., Ltd. 795,120 602,715 * Taiwan Kolin Co., Ltd. 1,356,000 -- #* Taiwan Land Development Corp. 3,367,798 1,292,605 * Taiwan Life Insurance Co., Ltd. 1,897,586 1,682,291 Taiwan Line Tek Electronic 404,529 342,368 Taiwan Mask Corp. 1,038,412 337,631 Taiwan Navigation Co., Ltd. 697,777 647,063 Taiwan Paiho, Ltd. 1,274,287 1,766,068 # Taiwan PCB Techvest Co., Ltd. 1,040,238 1,192,615 # Taiwan Prosperity Chemical Corp. 483,000 494,837 #* Taiwan Pulp & Paper Corp. 1,940,980 849,490 # Taiwan Sakura Corp. 1,398,003 904,227 Taiwan Secom Co., Ltd. 1,069,332 2,591,350 Taiwan Semiconductor Co., Ltd. 1,215,000 999,200 Taiwan Sogo Shin Kong SEC 997,278 1,239,703 * Taiwan Styrene Monomer 2,424,961 1,848,479 Taiwan Surface Mounting Technology Co., Ltd. 1,061,550 1,512,061 #* Taiwan TEA Corp. 3,021,897 2,484,886 # Taiwan Union Technology Corp. 798,000 610,326 # Taiyen Biotech Co., Ltd. 969,000 829,159 * Tang Eng Iron Works Co., Ltd. 60,000 59,644 * Tatung Co., Ltd. 10,752,015 2,980,916 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ --------- ---------- TAIWAN -- (Continued) # Te Chang Construction Co., Ltd. 392,840 $ 357,804 * Tecom Co., Ltd. 108,114 10,962 #* Tekcore Co., Ltd. 326,000 147,157 # Ten Ren Tea Co., Ltd. 187,980 278,573 Test Research, Inc. 757,821 1,031,220 Test-Rite International Co., Ltd. 1,680,495 1,308,249 ThaiLin Semiconductor Corp. 226,000 135,604 Thinking Electronic Industrial Co., Ltd. 403,204 467,606 Thye Ming Industrial Co., Ltd. 873,669 1,008,399 # Ton Yi Industrial Corp. 2,146,644 2,375,233 # Tong Hsing Electronic Industries, Ltd. 625,963 3,311,411 Tong Yang Industry Co., Ltd. 1,818,741 2,832,068 Tong-Tai Machine & Tool Co., Ltd. 932,599 894,806 Topco Scientific Co., Ltd. 691,572 1,212,344 Topco Technologies Corp. 114,000 281,428 # Topoint Technology Co., Ltd. 725,776 556,661 # Toung Loong Textile Manufacturing 373,000 1,422,277 Trade-Van Information Services Co. 239,000 217,608 # Transasia Airways Corp. 578,000 241,599 Transcend Information, Inc. 22,651 71,537 Tsann Kuen Enterprise Co., Ltd. 514,686 724,728 TSC Auto ID Technology Co., Ltd. 63,000 401,116 Ttet Union Corp. 270,000 614,875 TTFB Co., Ltd. 9,000 88,180 # TTY Biopharm Co., Ltd. 851,902 3,317,723 # Tung Ho Steel Enterprise Corp. 3,686,000 3,305,216 Tung Ho Textile Co., Ltd. 598,000 203,661 # Tung Thih Electronic Co., Ltd. 298,600 887,033 TURVO International Co., Ltd. 114,400 479,946 TXC Corp. 1,349,053 1,665,383 * TYC Brother Industrial Co., Ltd. 573,980 327,690 * Tycoons Group Enterprise 2,368,182 471,876 * Tyntek Corp. 1,563,393 382,301 TZE Shin International Co., Ltd. 336,232 135,029 # Ubright Optronics Corp. 149,500 347,806 Unic Technology Corp. 72,723 29,069 * Union Bank Of Taiwan 3,518,043 1,287,423 Unitech Computer Co., Ltd. 281,804 134,543 * Unitech Printed Circuit Board Corp. 2,859,370 1,228,111 United Integrated Services Co., Ltd. 1,093,439 1,207,420 # Unity Opto Technology Co., Ltd. 1,413,500 1,107,183 Universal Cement Corp. 1,746,191 1,603,241 * Unizyx Holding Corp. 1,809,430 941,003 UPC Technology Corp. 3,551,447 1,716,238 Userjoy Technology Co., Ltd. 74,000 122,586 USI Corp. 3,673,734 2,695,078 Ve Wong Corp. 503,696 424,853 #* Via Technologies, Inc. 794,500 649,746 Viking Tech Corp. 43,000 38,315 Visual Photonics Epitaxy Co., Ltd. 806,696 814,956 # Vivotek, Inc. 243,225 1,414,072 * Wafer Works Corp. 1,310,580 707,399 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ---------- ------------ TAIWAN -- (Continued) # Wah Hong Industrial Corp. 331,021 $ 354,994 Wah Lee Industrial Corp. 819,000 1,313,037 * Walsin Lihwa Corp. 3,797,000 1,177,028 * Walsin Technology Corp. 2,427,873 650,932 * Walton Advanced Engineering, Inc. 1,443,197 515,421 Wan Hai Lines, Ltd. 1,440,000 776,011 WAN HWA Enterprise Co. 633,992 322,786 Waterland Financial Holdings Co., Ltd. 5,334,504 1,834,816 Ways Technical Corp., Ltd. 295,000 429,707 * WEI Chih Steel Industrial Co., Ltd. 433,000 71,596 # Wei Chuan Foods Corp. 1,836,000 3,477,177 * Wei Mon Industry Co., Ltd. 1,682,282 552,311 Weikeng Industrial Co., Ltd. 957,100 709,824 Well Shin Technology Co., Ltd. 328,000 558,499 Weltrend Semiconductor 1,018,650 974,548 Win Semiconductors Corp. 2,659,000 2,345,303 #* Winbond Electronics Corp. 14,866,138 3,752,489 #* Wintek Corp. 8,975,000 3,352,494 # Wisdom Marine Lines Co., Ltd. 792,120 950,540 Wistron NeWeb Corp. 1,133,021 2,728,854 # WT Microelectronics Co., Ltd. 1,366,879 1,632,798 WUS Printed Circuit Co., Ltd. 1,582,000 711,254 X-Legend Entertainment Co., Ltd. 10,500 47,696 # XAC Automation Corp. 241,000 330,832 # Xxentria Technology Materials Corp. 587,000 1,124,718 Yageo Corp. 6,829,200 2,325,899 YC INOX Co., Ltd. 1,562,171 1,095,423 # YeaShin International Development Co., Ltd. 940,508 736,463 # Yem Chio Co., Ltd. 1,667,642 1,270,182 YFY, Inc. 6,150,212 3,263,855 * Yi Jinn Industrial Co., Ltd. 735,312 199,810 * Yieh Phui Enterprise Co., Ltd. 4,730,338 1,496,377 Young Fast Optoelectronics Co., Ltd. 617,872 678,223 # Young Optics, Inc. 264,111 552,121 # Youngtek Electronics Corp. 485,245 972,216 Yufo Electronics Co., Ltd. 98,000 64,743 Yung Chi Paint & Varnish Manufacturing Co., Ltd. 333,869 787,961 # Yungshin Construction & Development Co. 39,000 95,208 YungShin Global Holding Corp. 800,300 1,562,157 # Yungtay Engineering Co., Ltd. 1,597,000 4,686,169 Zeng Hsing Industrial Co., Ltd. 238,349 1,399,466 Zenitron Corp. 902,000 585,337 #* Zig Sheng Industrial Co., Ltd. 2,268,732 814,624 Zinwell Corp. 1,425,586 1,535,153 Zippy Technology Corp. 581,948 579,925 # ZongTai Real Estate Development Co., Ltd. 352,800 433,731 ------------ TOTAL TAIWAN 632,416,334 ------------ THAILAND -- (4.5%) AAPICO Hitech PCL 964,380 523,631 Aeon Thana Sinsap Thailand PCL 142,500 414,337 AJ Plast PCL 1,601,288 524,759 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ----------- ---------- THAILAND -- (Continued) Amarin Printing & Publishing PCL 70,600 $ 47,634 Amata Corp. PCL 4,023,200 2,210,336 AP Thailand PCL 9,955,060 1,743,135 * Apex Development PCL 3,536 -- * Asia Green Energy PCL 1,555,700 129,954 Asia Plus Securities PCL 10,379,800 1,260,583 Asian Insulators PCL 1,794,300 899,312 Bangchak Petroleum PCL 4,164,400 4,448,717 Bangkok Aviation Fuel Services PCL 1,389,217 1,138,154 Bangkok Chain Hospital PCL 8,478,437 1,729,737 Bangkok Expressway PCL 2,873,100 3,346,181 Bangkok Insurance PCL 128,701 1,529,940 Bangkok Life Assurance PCL 1,442,500 2,919,759 * Bangkok Metro PCL 44,329,600 1,566,669 * Bangkok Rubber PCL 14,600 -- Bangkokland PCL 81,318,070 4,493,721 Bumrungrad Hospital PCL 1,589,500 4,442,940 CalComp Electronics Thailand PCL 11,679,200 1,163,230 * Central Paper Industry P.L.C. 20 -- Central Plaza Hotel PCL 3,664,700 4,621,349 CH Karnchang PCL 5,788,200 4,128,451 Charoong Thai Wire & Cable PCL 1,317,400 444,424 Christiani & Nielsen Thai 417,800 95,305 Country Group Securities PCL 6,720,500 267,740 CS Loxinfo PCL 1,759,200 627,377 Delta Electronics Thailand PCL 3,559,200 5,460,299 Demco PCL 604,000 145,542 Dhipaya Insurance PCL 608,900 567,329 Diamond Building Products PCL 2,479,600 720,976 DSG International Thailand PCL 2,799,600 908,465 Dynasty Ceramic PCL 1,353,400 2,326,326 Eastern Water Resources Development and Management PCL 4,333,100 1,768,044 Electricity Generating PCL 544,900 2,240,874 Erawan Group PCL (The) 8,149,270 1,235,809 Esso Thailand PCL 11,141,600 2,505,741 * G J Steel PCL 130,617,600 293,758 * G Steel PCL (Foreign) 27,015,300 121,515 * GFPT PCL 4,603,000 1,404,932 * GMM Grammy PCL 1,791,660 892,232 * Golden Land Property Development PCL 1,978,400 495,792 * Grand Canal Land PCL 2,499,000 240,867 Gunkul Engineering PCL 2,024,500 1,066,725 Hana Microelectronics PCL 2,170,996 1,590,320 Hemaraj Land and Development PCL 33,959,700 3,796,940 ICC International PCL 204,600 262,940 * Italian-Thai Development PCL 19,673,827 3,697,731 * ITV PCL 2,785,600 93,972 Jasmine International PCL 4,221,100 1,145,969 Jaymart PCL 1,324,100 935,910 Jubilee Enterprise PCL 159,300 125,905 Kang Yong Electric PCL 23,900 190,432 KCE Electronics PCL 1,786,218 1,050,210 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ---------- ---------- THAILAND -- (Continued) KGI Securities Thailand PCL 9,781,400 $ 905,074 Khon Kaen Sugar Industry PCL 4,776,000 1,933,417 Kiatnakin Bank PCL 3,023,300 4,055,350 Laguna Resorts & Hotels PCL 197,000 205,703 Lanna Resources PCL 1,894,350 754,697 LH Financial Group PCL 26,770,146 1,143,913 Loxley PCL 7,850,565 1,200,600 LPN Development PCL(B00PXK5) 411,500 289,537 LPN Development PCL(B00Q643) 4,549,000 3,200,742 Major Cineplex Group PCL 3,105,500 1,905,704 Maybank Kim Eng Securities Thailand PCL 277,100 201,204 MBK PCL 554,700 2,673,253 MCOT PCL 2,352,600 2,626,598 * MDX PCL 463,800 151,992 Modernform Group PCL 413,900 123,671 * Muang Thai Insurance PCL 43,788 125,561 Muramoto Electron Thailand PCL 14,000 66,683 * Nation Multimedia Group PCL 14,377,900 692,911 * Natural Park PCL 51,018,000 98,348 Nava Nakorn PCL 1,715,500 139,996 Noble Development PCL 585,900 199,535 Polyplex Thailand PCL 2,300,700 753,964 Precious Shipping PCL 3,208,300 1,979,096 Premier Marketing PCL 136,500 37,716 President Rice Products PCL 3,375 4,337 Property Perfect PCL 21,874,700 766,054 Pruksa Real Estate PCL 7,084,800 5,076,017 Quality Houses PCL 33,101,508 3,233,047 * Raimon Land PCL 13,557,900 544,494 * Regional Container Lines PCL 2,243,400 475,709 Robinson Department Store PCL 101,625 172,232 Rojana Industrial Park PCL 5,372,000 1,320,347 RS PCL 3,358,700 922,631 Saha Pathana Inter-Holding PCL 680,300 485,226 Saha-Union PCL 746,600 911,512 * Sahaviriya Steel Industries PCL 74,435,600 884,857 Samart Corp. PCL 3,447,700 2,237,543 Samart I-Mobile PCL 11,322,300 1,244,089 Samart Telcoms PCL 2,212,100 1,201,108 Sansiri PCL 33,810,908 2,433,299 SC Asset Corp PCL 14,046,225 1,696,829 SE Education PCL 168,069 26,999 * Siam Commercial Samaggi Insurance PCL (The) 65,700 46,439 Siam Future Development PCL 6,419,521 1,371,560 Siam Global House PCL 6,084,983 3,734,078 Siamgas & Petrochemicals PCL 2,476,700 1,098,103 Singer Thailand PCL 386,400 255,738 Sino Thai Engineering & Construction PCL 5,251,500 3,914,371 SNC Former PCL 869,400 550,271 Somboon Advance Technology PCL 1,715,637 903,982 * SPCG PCL 2,243,900 1,658,143 Sri Ayudhya Capital PCL 27,000 20,472 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ---------- ------------ THAILAND -- (Continued) Sri Trang Agro-Industry PCL 4,616,690 $ 2,002,420 Srithai Superware PCL 992,900 586,967 STP & I PCL 5,087,440 3,318,073 Supalai PCL 5,976,633 3,398,760 Susco PCL 849,100 102,028 * SVI PCL 7,584,900 901,659 Symphony Communication PCL 414,300 170,379 * Tata Steel Thailand PCL 18,704,100 510,795 Thai Airways International PCL(6364971) 141,400 92,222 Thai Airways International PCL(6888868) 6,320,600 4,122,351 Thai Carbon Black PCL 504,600 363,961 Thai Central Chemical PCL 194,300 174,792 Thai Factory Development PCL 5,343,780 1,528,021 Thai Metal Trade PCL 583,600 215,627 Thai Rayon PCL 9,400 9,060 * Thai Reinsurance PCL(6609995) 833,200 105,472 * Thai Reinsurance PCL(6609575) 6,335,500 801,988 Thai Rung Union Car PCL 655,100 144,175 Thai Stanley Electric PCL 206,600 1,526,683 Thai Steel Cable PCL 3,400 1,759 Thai Tap Water Supply PCL 12,968,800 4,291,683 Thai Vegetable Oil PCL 2,939,475 1,718,826 Thai Wacoal PCL 78,000 123,108 Thai-German Ceramic PCL 3,855,000 421,108 Thaicom PCL 3,837,200 4,900,521 Thanachart Capital PCL 4,752,800 5,268,164 Thitikorn PCL 742,400 274,300 * Thoresen Thai Agencies PCL 3,744,920 2,129,641 Ticon Industrial Connection PCL 3,708,187 2,120,666 Tipco Asphalt PCL 684,790 1,309,076 * TIPCO Foods PCL 1,278,482 386,112 Tisco Financial Group PCL(B3KFW10) 677,900 958,316 Tisco Financial Group PCL(B3KFW76) 2,220,100 3,138,455 Toyo-Thai Corp. PCL(B5ML0B6) 347,500 429,839 Toyo-Thai Corp. PCL(B5ML0D8) 1,290,600 1,596,405 TPI Polene PCL 7,578,660 3,141,035 * Tycoons Worldwide Group Thailand PCL 764,600 104,649 Union Mosaic Industry PCL 3,273,200 1,083,179 Unique Engineering & Construction PCL 3,212,300 846,293 Univanich Palm Oil PCL 939,000 322,805 Univentures PCL 7,086,000 1,764,386 Vanachai Group PCL 3,287,866 295,776 Vibhavadi Medical Center PCL 3,907,320 1,255,364 Vinythai PCL 2,792,934 1,049,874 Workpoint Entertainment PCL 827,100 876,925 ------------ TOTAL THAILAND 202,541,380 ------------ TURKEY -- (3.1%) Adana Cimento Sanayii TAS Class A 457,995 938,235 # Adel Kalemcilik Ticaret ve Sanayi A.S. 22,284 652,480 #* Adese Alisveris Merkezleri Ticaret A.S. 39,999 176,012 Akcansa Cimento A.S. 429,680 2,400,072 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ --------- ---------- TURKEY -- (Continued) #* Akenerji Elektrik Uretim A.S. 1,856,419 $1,243,516 #* Akfen Holding A.S. 747,158 1,620,930 * AKIS Gayrimenkul Yatirimi A.S. 45,283 71,382 # Aksa Akrilik Kimya Sanayii 843,653 3,479,617 Aksigorta A.S. 995,287 1,384,876 * Aktas Elektrik Ticaret A.S. 370 -- Alarko Holding A.S. 682,424 2,018,964 #* Albaraka Turk Katilim Bankasi A.S. 2,591,157 2,305,314 * Altinyildiz Mensucat ve Konfeksiyon Fabrikalari A.S. 110,344 2,748,250 * Anadolu Anonim Tuerk Sigorta Sirketi 1,799,570 1,188,721 Anadolu Cam Sanayii A.S. 981,166 1,191,427 Anadolu Hayat Emeklilik A.S. 737,241 1,806,245 #* Anadolu Isuzu Otomotiv Sanayi Ve Ticaret A.S. 42,525 438,461 Aselsan Elektronik Sanayi Ve Ticaret A.S. 1 4 #* Asya Katilim Bankasi A.S. 5,934,410 6,012,532 # Aygaz A.S. 124,525 566,850 # Bagfas Bandirma Gubre Fabrik 34,971 734,053 * Banvit Bandirma Vitaminli Yem Sanayii ASA 297,934 432,482 #* Baticim Bati Anadolu Cimento Sanayii A.S. 263,956 871,916 #* Besiktas Futbol Yatirimlari Sanayi ve Ticaret A.S. 885,060 1,049,360 Bizim Toptan Satis Magazalari A.S. 181,001 2,172,691 Bolu Cimento Sanayii A.S. 514,692 734,958 Borusan Mannesmann Boru Sanayi ve Ticaret A.S. 89,035 1,463,975 #* Bosch Fren Sistemleri 989 69,180 * Boyner Buyuk Magazacilik 31,905 153,152 Brisa Bridgestone Sabanci Sanayi ve Ticaret A.S. 219,974 646,288 Bursa Cimento Fabrikasi A.S. 207,615 459,793 Celebi Hava Servisi A.S. 45,555 326,140 Cimsa Cimento Sanayi VE Tica 457,606 2,959,297 #* Deva Holding A.S. 683,187 720,423 Dogan Gazetecilik A.S. 59,365 48,385 * Dogan Sirketler Grubu Holding A.S. 6,403,075 2,881,196 #* Dogan Yayin Holding A.S. 4,269,738 1,470,815 Dogus Otomotiv Servis ve Ticaret A.S. 595,613 2,851,653 * Dyo Boya Fabrikalari Sanayi ve Ticaret A.S. 491,290 441,501 * Eczacibasi Yapi Gerecleri Sanayi ve Ticaret A.S. 265,518 580,955 # Eczacibasi Yatirim Holding Ortakligi A.S. 354,065 1,136,202 EGE Seramik Sanayi ve Ticaret A.S. 652,859 875,867 EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret A.S. 1,950,686 2,468,634 Fenerbahce Futbol A.S. 12,739 222,230 #* Galatasaray Sportif Sinai ve Ticari Yatirimlar A.S. 25,537 403,382 Gentas Genel Metal Sanayi ve Ticaret A.S. 463,448 268,962 Global Yatirim Holding A.S. 2,001,945 1,381,570 Goldas Kuyumculuk Sanayi Ithalat ve Ihracat A.S. 8,540 898 Goltas Goller Bolgesi Cimento Sanayi ve Ticaret A.S. 46,627 1,332,926 Goodyear Lastikleri TAS 37,464 1,174,251 * Gozde Girisim Sermayesi Yatirim Ortakligi A.S. 389,125 1,173,303 #* GSD Holding 2,411,631 1,517,914 #* Gubre Fabrikalari TAS 203,105 1,697,656 * Gunes Sigorta 330,927 312,944 #* Hurriyet Gazetecilik A.S. 1,130,609 428,780 #* Ihlas Holding A.S. 6,179,444 2,287,018 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ --------- ---------- TURKEY -- (Continued) #* Ihlas Madencilik A.S. 111,106 $ 398,843 # Indeks Bilgisayar Sistemleri Muhendislik Sanayi ve Ticaret A.S. 82,829 167,842 #* Ipek Dogal Enerji Kaynaklari Ve Uretim A.S. 1,329,455 3,366,422 * Is Finansal Kiralama A.S. 951,417 466,334 Is Yatirim Menkul Degerler A.S. Class A 254,709 183,634 * Isiklar Yatirim Holding A.S. 237,725 63,125 #* Izmir Demir Celik Sanayi A.S. 545,301 752,347 * Kardemir Karabuk Demir Celik Sanayi ve Ticaret A.S. Class A 1,448,775 1,401,534 #* Kardemir Karabuk Demir Celik Sanayi ve Ticaret A.S. Class B 692,748 1,502,353 * Kardemir Karabuk Demir Celik Sanayi ve Ticaret A.S. Class D 6,197,721 3,892,861 #* Karsan Otomotiv Sanayii Ve Ticaret A.S. 1,639,695 972,048 # Kartonsan Karton Sanayi ve Ticaret A.S. 8,767 1,104,640 #* Kerevitas Gida Sanayi ve Ticaret A.S. 5,801 105,368 # Konya Cimento Sanayii A.S. 8,645 1,255,985 Kordsa Global Endustriyel Iplik ve Kord Bezi Sanayi ve Ticaret A.S. 116,486 211,234 * Koza Anadolu Metal Madencilik Isletmeleri A.S. 1,427,863 3,098,545 Mardin Cimento Sanayii ve Ticaret A.S. 285,454 649,199 #* Marshall Boya ve Vernik 28,715 638,715 * Menderes Tekstil Sanayi ve Ticaret A.S. 831,656 220,153 * Metro Ticari ve Mali Yatirimlar Holding A.S. 1,233,710 413,360 * Migros Ticaret A.S. 218,349 1,940,004 * Milpa 38,030 33,409 * Mondi Tire Kutsan Kagit Ve Ambalaj Sanayii A.S. 149,549 88,188 * Mudurnu Tavukculuk A.S. 1,740 -- Mutlu Aku ve Malzemeleri Sanayi AS 110,210 399,561 * Mutlu Yatirim Proje ve Gayrimenkul Gelistirme AS 2,459 31,436 * Nergis Holding A.S. 1,784 -- # NET Holding A.S. 1,387,517 1,655,180 #* Net Turizm Ticaret ve Sanayi SA 1,076,216 473,323 # Netas Telekomunikasyon A.S. 216,273 804,112 Nuh Cimento Sanayi A.S. 339,327 1,906,175 Otokar Otomotiv Ve Savunma Sanayi A.S. 107,742 3,478,397 * Park Elektrik Uretim Madencilik Sanayi ve Ticaret A.S. 546,545 1,577,345 #* Petkim Petrokimya Holding A.S. 4,055,738 6,384,172 Pinar Entegre Et ve Un Sanayi A.S. 139,619 538,124 Pinar SUT Mamulleri Sanayii A.S. 130,977 1,134,714 #* Polyester Sanayi A.S. 756,712 419,652 * Raks Elektronik Sanayi ve Ticaret A.S. 2,730 -- * Reysas Tasimacilik ve Lojistik Ticaret A.S. 1 -- Sarkuysan Elektrolitik Bakir Sanayi ve Ticaret A.S. 248,999 380,441 * Sekerbank TAS 2,761,333 2,612,670 # Selcuk Ecza Deposu Ticaret ve Sanayi A.S. 1,289,594 1,283,231 Soda Sanayii A.S. 987,383 1,304,438 * TAT Konserve Sanayii A.S. 638,808 817,418 TAV Havalimanlari Holding A.S. 12,381 89,585 Tekfen Holding A.S. 1,158,399 2,786,245 * Teknosa Ic Ve Dis Ticaret A.S. 15,820 104,413 #* Tekstil Bankasi A.S. 1,337,315 1,029,098 Tofas Turk Otomobil Fabrikasi A.S. 1 7 # Trakya Cam Sanayi A.S. 2,590,405 3,208,551 Turcas Petrol A.S. 628,196 985,591 Turk Traktor ve Ziraat Makineleri A.S. 124,115 4,083,247 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ---------- -------------- TURKEY -- (Continued) Turkiye Sinai Kalkinma Bankasi A.S. 5,576,356 $ 5,430,780 Ulker Biskuvi Sanayi A.S. 463,570 3,536,212 * Uzel Makina Sanayii A.S. 172,635 -- #* Vestel Beyaz Esya Sanayi ve Ticaret A.S. 464,135 689,379 #* Vestel Elektronik Sanayi ve Ticaret A.S. 1,090,031 1,116,094 * Yapi Kredi Sigorta A.S. 194,413 1,830,802 #* Zorlu Enerji Elektrik Uretim A.S. 1,483,938 979,452 -------------- TOTAL TURKEY 141,990,626 -------------- TOTAL COMMON STOCKS 3,995,438,691 -------------- PREFERRED STOCKS -- (1.3%) BRAZIL -- (1.3%) Alpargatas SA 907,380 6,253,160 Banco ABC Brasil SA 578,128 3,557,544 Banco Alfa de Investimento SA 2,600 6,567 Banco Daycoval SA 328,827 1,308,253 Banco do Estado do Rio Grande do Sul SA Class B 712,347 5,131,415 Banco Industrial e Comercial SA 484,320 1,621,438 Banco Indusval SA 11,800 31,962 Banco Mercantil do Brasil SA 8,069 39,689 * Banco Panamericano SA 1,003,800 2,370,712 Banco Pine SA 181,035 849,921 Banco Sofisa SA 92,600 114,140 Bardella SA Industrias Mecanicas 500 11,334 * Battistella Adm Participacoes SA 35,500 15,676 * Bombril SA 4,300 11,951 * Centrais Eletricas de Santa Catarina SA 78,000 621,219 Cia de Gas de Sao Paulo Class A 128,087 3,392,391 Cia de Saneamento do Parana 185,001 569,762 * Cia de Tecidos do Norte de Minas - Coteminas 2 2 * Cia de Transmissao de Energia Eletrica Paulista 81,500 1,162,590 Cia Energetica de Sao Paulo Class B 276,200 2,883,380 Cia Energetica do Ceara Class A 188,311 3,316,160 Cia Ferro Ligas da Bahia - Ferbasa 286,249 1,749,517 Eletropaulo Metropolitana Eletricidade de Sao Paulo SA 995,500 4,428,846 * Empresa Metropolitana de Aguas e Energia SA 23,900 61,158 Energisa SA 71,200 72,559 Eucatex SA Industria e Comercio 206,827 620,177 Forjas Taurus SA 553,232 532,798 Fras-Le Middle East Class A 30,300 74,747 * Gol Linhas Aereas Inteligentes SA 176,800 891,162 * Inepar SA Industria e Construcoes 248,468 123,944 Marcopolo SA 3,359,100 8,659,771 Parana Banco SA 52,900 336,812 Randon Participacoes SA 1,174,526 6,661,139 Saraiva SA Livreiros Editores 167,673 2,128,518 Schulz SA 9,000 43,397 * Sharp SA Equipamentos Eletronicos 30,200,000 -- Unipar Participacoes SA Class B 2,790,948 595,865 THE EMERGING MARKETS SMALL CAP SERIES CONTINUED Shares Value++ ----------- -------------- BRAZIL -- (Continued) Whirlpool SA 139,716 $ 273,228 -------------- TOTAL BRAZIL 60,522,904 -------------- CHILE -- (0.0%) Coca-Cola Embonor SA Class B 8,190 20,680 -------------- COLOMBIA -- (0.0%) Avianca Holdings SA 118,433 265,674 -------------- TOTAL PREFERRED STOCKS 60,809,258 -------------- RIGHTS/WARRANTS -- (0.0%) BRAZIL -- (0.0%) * Cia de Saneamento do Parana Rights 11/19/13 27,940 -- * LLX Logistica SA Rights 11/12/13 279,761 2,498 * Refinaria de Petroleos de Manguinhos SA Rights 01/02/14 50,052 1,564 -------------- TOTAL BRAZIL 4,062 -------------- CHILE -- (0.0%) * Salfacorp SA Rights 11/08/13 158,270 93 -------------- MALAYSIA -- (0.0%) * Malaysian Resources Corp. Bhd Warrants 09/16/18 2,745,965 221,901 -------------- POLAND -- (0.0%) * Polimex-Mostostal SA Rights 2,699,832 -- -------------- SOUTH KOREA -- (0.0%) * Hanwha General Insurance Co., Ltd. Rights 11/08/13 59,982 16,964 * Hyundai Merchant Marine Co., Ltd. Rights 11/05/13 16,952 -- -------------- TOTAL SOUTH KOREA 16,964 -------------- THAILAND -- (0.0%) * G J Steel PCL Rights 02/07/20 5,379,492 34,567 -------------- TOTAL RIGHTS/WARRANTS 277,587 -------------- Shares/ Face Amount (000) Value+ ----------- -------------- SECURITIES LENDING COLLATERAL -- (10.9%) (S)@ DFA Short Term Investment Fund 42,610,199 493,000,000 @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $943,517 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $853,240) to be repurchased at $836,513 $ 837 836,510 -------------- TOTAL SECURITIES LENDING COLLATERAL 493,836,510 -------------- TOTAL INVESTMENTS -- (100.0%) (Cost $4,088,232,390) $4,550,362,046 ============== DIMENSIONAL EMERGING MARKETS VALUE FUND SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 SHARES VALUE++ ------ ------- COMMON STOCKS -- (90.5%) BRAZIL --(8.0%) Banco Alfa de Investimento SA........................ 82,400 $ 235,408 Banco do Brasil SA................................... 6,171,473 81,690,539 Banco Santander Brasil SA............................ 2,584,864 17,588,795 # Banco Santander Brasil SA ADR........................ 18,012,780 124,828,565 Bematech SA.......................................... 765,100 2,645,507 * BHG SA--Brazil Hospitality Group..................... 249,814 1,825,538 BM&FBovespa SA....................................... 21,761,674 122,651,270 BR Malls Participacoes SA............................ 779,797 7,532,791 * BrasilAgro--Co. Brasileira de Propriedades Agricolas. 36,700 165,845 #* Braskem SA Sponsored ADR............................. 562,862 9,923,257 * Brookfield Incorporacoes SA.......................... 7,174,000 4,480,067 * CCX Carvao da Colombia SA............................ 41,400 21,989 Cia Providencia Industria e Comercio SA.............. 359,200 1,358,099 * CR2 Empreendimentos Imobiliarios SA.................. 99,200 183,292 Cremer SA............................................ 226,270 1,579,454 Eternit SA........................................... 226,101 955,242 Even Construtora e Incorporadora SA.................. 4,862,748 18,054,056 * Fertilizantes Heringer SA............................ 274,800 1,052,368 * Fibria Celulose SA................................... 2,233,764 29,047,676 #* Fibria Celulose SA Sponsored ADR..................... 4,175,136 54,485,525 Forjas Taurus SA..................................... 219,056 272,758 * Gafisa SA............................................ 3,259,978 4,388,461 #* Gafisa SA ADR........................................ 3,374,767 9,078,123 * General Shopping Brasil SA........................... 159,730 684,598 Gerdau SA............................................ 2,010,263 13,357,812 # Gerdau SA Sponsored ADR.............................. 14,806,992 117,419,446 Grendene SA.......................................... 480,704 4,333,863 Hypermarcas SA....................................... 2,524,446 22,014,635 * IdeiasNet SA......................................... 138,249 103,215 * Industrias Romi SA................................... 635,500 1,774,314 JBS SA............................................... 17,341,940 61,913,342 JHSF Participacoes SA................................ 667,727 1,660,401 Kepler Weber SA...................................... 99,469 1,236,136 * Log-in Logistica Intermodal SA....................... 789,400 3,319,331 Magnesita Refratarios SA............................. 3,286,466 9,107,193 * Marfrig Alimentos SA................................. 5,057,848 10,226,485 * Metalfrio Solutions SA............................... 56,600 88,401 * MMX Mineracao e Metalicos SA......................... 1,724,296 635,312 MRV Engenharia e Participacoes SA.................... 2,584,157 11,110,366 * Paranapanema SA...................................... 4,401,343 9,355,528 * PDG Realty SA Empreendimentos e Participacoes........ 31,849,819 28,609,446 Petroleo Brasileiro SA............................... 6,386,835 55,668,560 # Petroleo Brasileiro SA ADR........................... 20,410,443 355,754,021 # Petroleo Brasileiro SA Sponsored ADR................. 22,111,474 401,544,368 * Plascar Participacoes Industriais SA................. 36,555 8,446 Positivo Informatica SA.............................. 671,026 1,128,967 Profarma Distribuidora de Produtos Farmaceuticos SA.. 300,725 2,378,783 Rodobens Negocios Imobiliarios SA.................... 348,116 2,113,092 * Rossi Residencial SA................................. 10,825,995 13,281,358 Sao Carlos Empreendimentos e Participacoes SA........ 68,000 1,190,788 Sao Martinho SA...................................... 529,663 7,459,896 1 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- BRAZIL -- (Continued) SLC Agricola SA............................... 1,025,891 $ 9,518,673 * Springs Global Participacoes SA............... 1,522,300 1,263,941 Sul America SA................................ 289,290 2,113,213 * Tecnisa SA.................................... 861,104 3,568,437 Tereos Internacional SA....................... 568,672 750,095 TPI--Triunfo Participacoes e Investimentos SA. 311,200 1,429,377 Trisul SA..................................... 95,461 188,738 * Usinas Siderurgicas de Minas Gerais SA........ 2,197,000 11,138,896 * Vanguarda Agro SA............................. 3,973,779 6,652,531 Via Varejo SA................................. 42,731 572,239 * Viver Incorporadora e Construtora SA.......... 3,077,692 414,470 -------------- TOTAL BRAZIL...................................... 1,669,133,338 -------------- CHILE --(1.5%) Cementos BIO BIO SA........................... 665,307 732,669 Cencosud SA................................... 907,749 3,701,789 Cia General de Electricidad SA................ 1,273,765 7,233,548 * Cia Sud Americana de Vapores SA............... 57,702,158 2,667,307 Cintac SA..................................... 155,202 42,428 Corpbanca SA.................................. 1,137,122,867 12,728,082 Cristalerias de Chile SA...................... 264,624 2,253,973 Cruz Blanca Salud SA.......................... 264,642 180,512 * CTI SA........................................ 5,615 14,251 Embotelladora Andina SA Class A ADR........... 19,478 504,480 Empresas CMPC SA.............................. 20,493,514 60,931,677 Empresas COPEC SA............................. 2,248,477 32,784,605 Empresas Hites SA............................. 1,508,443 1,230,761 Empresas Iansa SA............................. 49,008,058 2,072,718 * Empresas La Polar SA.......................... 55,016 11,154 Enersis SA.................................... 80,177,319 26,880,932 Enersis SA Sponsored ADR...................... 5,622,312 92,768,148 Gasco SA...................................... 159,015 1,693,311 Grupo Security SA............................. 990,395 343,768 Inversiones Aguas Metropolitanas SA........... 6,055,897 11,257,942 Invexans SA................................... 64,223,012 1,411,797 Latam Airlines Group SA....................... 501,033 8,261,521 # Latam Airlines Group SA Sponsored ADR......... 315,976 5,229,403 * Madeco SA..................................... 64,223,012 488,960 Masisa SA..................................... 42,602,089 3,141,900 Parque Arauco SA.............................. 167,834 323,464 PAZ Corp. SA.................................. 1,977,039 1,122,291 Ripley Corp. SA............................... 11,773,657 10,333,468 Salfacorp SA.................................. 2,039,920 2,319,040 Sociedad Matriz SAAM SA....................... 51,571,533 5,163,330 Sociedad Quimica y Minera de Chile SA Class A. 27,840 1,046,043 Socovesa SA................................... 5,770,951 1,637,489 Soquimich Comercial SA........................ 189,354 38,706 Vina Concha y Toro SA......................... 1,559,467 2,862,943 Vina Concha y Toro SA Sponsored ADR........... 2,846 105,444 Vina San Pedro Tarapaca SA.................... 57,038,434 339,440 -------------- TOTAL CHILE....................................... 303,859,294 -------------- 2 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- CHINA -- (14.0%) # 361 Degrees International, Ltd.......................... 6,803,000 $ 1,948,237 Agile Property Holdings, Ltd............................ 18,252,000 21,956,191 Agricultural Bank of China, Ltd. Class H................ 255,464,000 123,106,826 Air China, Ltd. Class H................................. 3,578,000 2,436,048 #* Aluminum Corp. of China, Ltd. ADR....................... 267,643 2,435,551 #* Aluminum Corp. of China, Ltd. Class H................... 11,832,000 4,375,264 AMVIG Holdings, Ltd..................................... 5,605,100 2,630,988 #* Angang Steel Co., Ltd. Class H.......................... 16,143,640 9,774,138 Anhui Tianda Oil Pipe Co., Ltd.......................... 2,847,412 422,341 Asia Cement China Holdings Corp......................... 7,821,500 4,278,197 Asian Citrus Holdings, Ltd.............................. 7,229,000 2,735,424 #* Ausnutria Dairy Corp., Ltd.............................. 268,000 50,468 * AVIC International Holding HK, Ltd...................... 19,134,285 728,120 * AVIC International Holdings, Ltd........................ 2,526,000 979,897 Bank of China, Ltd. Class H............................. 989,630,331 465,927,610 Bank of Communications Co., Ltd. Class H................ 110,893,574 81,256,211 Baoye Group Co., Ltd. Class H........................... 2,117,120 1,531,857 BBMG Corp. Class H...................................... 3,594,000 2,569,441 Beijing Capital International Airport Co., Ltd. Class H. 24,271,599 17,051,861 # Beijing Capital Land, Ltd. Class H...................... 18,113,060 6,522,928 Beijing Enterprises Holdings, Ltd....................... 5,364,500 43,897,110 Beijing Jingkelong Co., Ltd. Class H.................... 461,000 160,646 Beijing North Star Co., Ltd. Class H.................... 8,382,000 1,883,109 Boer Power Holdings, Ltd................................ 1,318,000 1,000,641 #* BYD Electronic International Co., Ltd................... 13,059,136 6,129,178 C C Land Holdings, Ltd.................................. 20,944,286 5,646,286 Carrianna Group Holdings Co., Ltd....................... 3,394,391 568,241 Central China Real Estate, Ltd.......................... 8,003,350 2,615,375 Changshouhua Food Co., Ltd.............................. 600,000 634,615 #* Chaoda Modern Agriculture Holdings, Ltd................. 37,445,412 4,306,222 Chaowei Power Holdings, Ltd............................. 80,000 33,970 * Chigo Holding, Ltd...................................... 49,744,000 1,116,003 China Aerospace International Holdings, Ltd............. 32,830,000 3,767,193 China Agri-Industries Holdings, Ltd..................... 30,816,500 14,393,305 China Aoyuan Property Group, Ltd........................ 15,221,000 3,115,093 China Automation Group, Ltd............................. 6,821,000 1,433,728 China BlueChemical, Ltd................................. 3,450,878 2,213,740 * China Chengtong Development Group, Ltd.................. 4,696,000 175,347 China CITIC Bank Corp., Ltd. Class H.................... 113,494,716 63,808,858 # China Coal Energy Co., Ltd. Class H..................... 60,445,000 37,012,751 China Communications Construction Co., Ltd. Class H..... 65,910,327 53,711,943 China Communications Services Corp., Ltd. Class H....... 28,699,071 17,738,458 China Construction Bank Corp. Class H................... 281,910,940 219,334,202 #* China COSCO Holdings Co., Ltd. Class H.................. 31,263,500 14,883,402 # China Dongxiang Group Co................................ 46,914,127 7,317,642 * China Energine International Holdings, Ltd.............. 5,818,390 472,502 China Everbright, Ltd................................... 12,195,869 18,088,591 China Fiber Optic Network System Group, Ltd............. 736,000 130,919 * China Foods, Ltd........................................ 132,000 59,954 * China Glass Holdings, Ltd............................... 9,128,000 1,142,506 * China Green Holdings, Ltd............................... 7,014,800 804,964 #* China Haidian Holdings, Ltd............................. 22,761,108 2,143,672 3 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- CHINA -- (Continued) China High Precision Automation Group, Ltd................. 429,000 $ 67,507 #* China High Speed Transmission Equipment Group Co., Ltd..... 17,215,000 9,236,233 China Hongqiao Group, Ltd.................................. 309,500 195,106 * China Huiyuan Juice Group, Ltd............................. 8,259,483 5,528,645 # China ITS Holdings Co., Ltd................................ 7,630,000 1,997,184 # China Lumena New Materials Corp............................ 53,360,000 11,425,344 China Merchants Bank Co., Ltd. Class H..................... 2,470,096 4,911,523 China Merchants Holdings International Co., Ltd............ 9,288,279 32,866,977 #* China Metal Recycling Holdings, Ltd........................ 3,259,800 1,982,453 #* China Mining Resources Group, Ltd.......................... 22,647,100 279,202 # China Minsheng Banking Corp., Ltd. Class H................. 50,567,500 57,947,185 China Molybdenum Co., Ltd. Class H......................... 67,263 27,443 # China National Building Material Co., Ltd. Class H......... 11,150,000 10,887,362 # China National Materials Co., Ltd.......................... 14,631,000 3,188,607 #* China New Town Development Co., Ltd........................ 19,348,022 1,794,899 China Nickel Resources Holdings Co., Ltd................... 5,020,000 239,361 * China Oriental Group Co., Ltd.............................. 26,000 4,221 China Petroleum & Chemical Corp. ADR....................... 1,291,935 103,832,800 China Petroleum & Chemical Corp. Class H................... 212,971,575 172,402,097 #* China Precious Metal Resources Holdings Co., Ltd........... 7,256,000 1,170,235 #* China Properties Group, Ltd................................ 7,347,000 1,892,340 China Qinfa Group, Ltd..................................... 6,458,000 508,141 # China Railway Construction Corp., Ltd. Class H............. 30,592,514 33,475,431 China Railway Group, Ltd. Class H.......................... 4,063,000 2,299,595 #* China Rare Earth Holdings, Ltd............................. 20,151,000 3,092,582 China Resources Land, Ltd.................................. 146,107 423,257 #* China Rongsheng Heavy Industries Group Holdings, Ltd....... 23,473,500 2,783,622 China SCE Property Holdings, Ltd........................... 1,715,000 396,692 # China Shanshui Cement Group, Ltd........................... 3,662,000 1,299,620 #* China Shipping Container Lines Co., Ltd. Class H........... 56,393,700 13,959,961 #* China Shipping Development Co., Ltd. Class H............... 13,923,488 7,859,458 China South City Holdings, Ltd............................. 13,892,462 4,340,786 # China Southern Airlines Co., Ltd. Class H.................. 20,688,000 7,570,055 China Starch Holdings, Ltd................................. 18,995,000 546,193 * China Sunshine Paper Holdings Co., Ltd..................... 436,500 42,114 China Taifeng Beddings Holdings, Ltd....................... 640,000 141,033 China Tianyi Holdings, Ltd................................. 988,000 156,493 * China Tontine Wines Group, Ltd............................. 7,714,000 378,341 China Travel International Inv HK.......................... 52,275,631 10,114,563 China Unicom Hong Kong, Ltd................................ 4,822,000 7,531,754 # China Unicom Hong Kong, Ltd. ADR........................... 7,316,862 114,143,047 * China Vanadium Titano--Magnetite Mining Co., Ltd........... 14,828,000 2,331,238 * China WindPower Group, Ltd................................. 2,910,000 118,199 #* China Yurun Food Group, Ltd................................ 10,128,000 6,721,311 * China ZhengTong Auto Services Holdings, Ltd................ 947,000 661,863 * China Zhongwang Holdings, Ltd.............................. 20,874,954 6,813,345 * Chongqing Iron & Steel Co., Ltd. Class H................... 6,356,000 902,380 # Chongqing Machinery & Electric Co., Ltd. Class H........... 18,992,000 2,351,022 # Chongqing Rural Commercial Bank Class H.................... 6,411,000 3,238,769 Chu Kong Petroleum & Natural Gas Steel Pipe Holdings, Ltd.. 5,728,000 2,141,726 # CITIC Pacific, Ltd......................................... 17,055,000 24,189,624 * CITIC Resources Holdings, Ltd.............................. 42,880,000 6,030,356 4 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- CHINA -- (Continued) # Clear Media, Ltd...................................... 666,000 $ 512,543 * Coastal Greenland, Ltd................................ 2,202,000 100,671 #* Comba Telecom Systems Holdings, Ltd................... 4,323,500 1,421,518 * Comtec Solar Systems Group, Ltd....................... 6,346,000 1,389,766 Cosco International Holdings, Ltd..................... 10,104,000 4,360,217 COSCO Pacific, Ltd.................................... 22,578,620 32,771,622 Country Garden Holdings Co., Ltd...................... 2,712,203 1,866,836 # CPMC Holdings, Ltd.................................... 129,000 103,099 CSPC Pharmaceutical Group, Ltd........................ 10,344,000 6,441,737 * DaChan Food Asia, Ltd................................. 3,297,000 412,535 Dalian Port PDA Co., Ltd. Class H..................... 14,226,000 3,301,397 DaMing International Holdings, Ltd.................... 32,000 6,206 Dongyue Group......................................... 763,000 359,172 #* Dynasty Fine Wines Group, Ltd......................... 9,228,600 1,714,070 Embry Holdings, Ltd................................... 544,000 336,983 EVA Precision Industrial Holdings, Ltd................ 1,828,000 261,785 # Evergrande Real Estate Group, Ltd..................... 27,726,000 11,733,476 Evergreen International Holdings, Ltd................. 1,628,000 319,372 Fantasia Holdings Group Co., Ltd...................... 10,561,015 1,810,088 Fosun International, Ltd.............................. 14,695,744 14,182,301 # Franshion Properties China, Ltd....................... 44,364,580 15,468,853 # Fufeng Group, Ltd..................................... 2,658,000 1,131,752 * GCL-Poly Energy Holdings, Ltd......................... 73,000 22,304 * Global Bio-Chem Technology Group Co., Ltd............. 33,872,360 2,619,107 #* Global Sweeteners Holdings, Ltd....................... 10,292,350 702,208 #* Glorious Property Holdings, Ltd....................... 41,022,000 6,560,980 Goldbond Group Holdings, Ltd.......................... 960,000 39,785 # Golden Meditech Holdings, Ltd......................... 11,909,359 1,428,963 Goldlion Holdings, Ltd................................ 1,298,000 634,647 # GOME Electrical Appliances Holding, Ltd............... 77,549,000 12,101,715 * Great Wall Technology Co., Ltd. Class H............... 7,550,035 2,181,359 Greenland Hong Kong Holdings, Ltd..................... 3,730,575 2,635,823 # Greentown China Holdings, Ltd......................... 7,954,591 15,424,776 Guangdong Land Holdings, Ltd.......................... 2,092,000 558,949 # Guangshen Railway Co., Ltd. Class H................... 888,000 467,977 # Guangshen Railway Co., Ltd. Sponsored ADR............. 426,392 11,214,109 Guangzhou Automobile Group Co., Ltd. Class H.......... 24,817,572 29,423,042 Guangzhou R&F Properties Co., Ltd..................... 11,351,914 19,888,915 Hainan Meilan International Airport Co., Ltd. Class H. 1,989,000 2,100,612 #* Hanergy Solar Group, Ltd.............................. 36,580,000 6,225,531 Harbin Electric Co., Ltd. Class H..................... 11,119,474 6,982,275 * Heng Tai Consumables Group, Ltd....................... 69,965,195 1,290,940 * Hidili Industry International Development, Ltd........ 18,872,000 3,133,889 # HKC Holdings, Ltd..................................... 40,848,878 1,422,577 Hopefluent Group Holdings, Ltd........................ 48,000 18,374 #* Hopson Development Holdings, Ltd...................... 11,352,000 13,921,844 # Hua Han Bio-Pharmaceutical Holdings, Ltd.............. 15,654,525 3,622,537 * Huscoke Resources Holdings, Ltd....................... 1,742,000 20,869 Hutchison Harbour Ring, Ltd........................... 7,032,000 553,112 Industrial & Commercial Bank of China, Ltd. Class H... 148,536,996 103,936,545 Inspur International, Ltd............................. 33,726,713 1,391,843 Jiangxi Copper Co., Ltd. Class H...................... 770,000 1,478,223 5 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- CHINA -- (Continued) Jingwei Textile Machinery Class H..................... 50,000 $ 33,048 Ju Teng International Holdings, Ltd................... 11,466,249 8,341,650 * Kai Yuan Holdings, Ltd................................ 63,040,000 1,546,005 * Kaisa Group Holdings, Ltd............................. 21,380,632 6,517,025 * Kasen International Holdings, Ltd..................... 1,885,000 348,572 Kingboard Chemical Holdings, Ltd...................... 9,260,845 24,102,263 Kingboard Laminates Holdings, Ltd..................... 7,016,500 2,894,155 KWG Property Holding, Ltd............................. 20,557,000 13,388,308 Lai Fung Holdings, Ltd................................ 56,830,560 1,427,903 Le Saunda Holdings, Ltd............................... 64,000 29,217 Lee & Man Paper Manufacturing, Ltd.................... 9,142,000 6,544,907 #* Li Ning Co., Ltd...................................... 1,303,000 1,186,387 Lianhua Supermarket Holdings Co., Ltd. Class H........ 101,000 64,815 Lijun International Pharmaceutical Holding Co., Ltd... 1,742,055 470,257 Lingbao Gold Co., Ltd. Class H........................ 4,154,000 909,518 * LK Technology Holdings, Ltd........................... 112,500 22,216 * Lonking Holdings, Ltd................................. 9,166,000 1,856,688 * Loudong General Nice Resources China Holdings, Ltd.... 21,592,800 1,418,513 #* Maanshan Iron & Steel Class H......................... 25,898,000 6,612,187 Maoye International Holdings, Ltd..................... 7,455,000 1,431,392 #* Metallurgical Corp. of China, Ltd. Class H............ 24,393,659 5,004,463 MIE Holdings Corp..................................... 810,000 173,545 MIN XIN Holdings, Ltd................................. 1,654,000 875,173 * Mingfa Group International Co., Ltd................... 34,000 9,207 # Minmetals Land, Ltd................................... 20,055,205 2,870,991 # Minth Group, Ltd...................................... 3,498,000 7,317,267 #* MMG, Ltd.............................................. 3,200,000 713,193 * Nan Hai Corp., Ltd.................................... 25,150,000 210,896 New World China Land, Ltd............................. 25,450,600 14,006,759 New World Department Store China, Ltd................. 565,000 326,543 # Nine Dragons Paper Holdings, Ltd...................... 19,937,000 16,424,146 O-Net Communications Group, Ltd....................... 3,619,000 685,806 Overseas Chinese Town Asia Holdings, Ltd.............. 164,000 74,036 Parkson Retail Group, Ltd............................. 823,000 281,472 # Peak Sport Products Co., Ltd.......................... 10,288,000 2,361,966 * PetroAsian Energy Holdings, Ltd....................... 3,626,084 75,889 # Poly Property Group Co., Ltd.......................... 31,419,488 19,344,022 * Pou Sheng International Holdings, Ltd................. 9,813,529 518,474 # Powerlong Real Estate Holdings, Ltd................... 10,383,000 2,158,113 * Prosperity International Holdings HK, Ltd............. 19,500,000 742,180 Qingling Motors Co., Ltd. Class H..................... 12,058,000 3,701,943 Qunxing Paper Holdings Co., Ltd....................... 5,020,071 1,306,656 * Real Gold Mining, Ltd................................. 3,137,500 566,555 # Real Nutriceutical Group, Ltd......................... 11,046,000 2,863,490 Regent Manner International Holdings, Ltd............. 738,000 127,491 * Renhe Commercial Holdings Co., Ltd.................... 44,016,000 2,476,336 REXLot Holdings, Ltd.................................. 95,781,150 8,403,366 Royale Furniture Holdings, Ltd........................ 4,235,007 221,364 Samson Holding, Ltd................................... 7,831,452 1,089,847 Sany Heavy Equipment International Holdings Co., Ltd.. 1,079,000 312,933 #* Semiconductor Manufacturing International Corp........ 173,313,000 12,821,272 #* Semiconductor Manufacturing International Corp. ADR... 1,331,701 4,874,026 6 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- CHINA -- (Continued) # Shandong Chenming Paper Holdings, Ltd. Class H.................. 4,180,318 $ 1,709,293 Shanghai Industrial Holdings, Ltd............................... 8,464,918 27,826,304 #* Shanghai Industrial Urban Development Group, Ltd................ 12,338,000 3,057,155 Shanghai Jin Jiang International Hotels Group Co., Ltd. Class H. 17,400,000 4,200,099 Shanghai Prime Machinery Co., Ltd. Class H...................... 7,700,000 903,798 * Shanghai Zendai Property, Ltd................................... 19,155,000 376,610 Shengli Oil & Gas Pipe Holdings, Ltd............................ 9,946,500 539,339 Shenzhen International Holdings, Ltd............................ 114,256,069 13,997,879 Shenzhen Investment, Ltd........................................ 40,044,234 16,023,582 Shimao Property Holdings, Ltd................................... 22,765,535 57,039,807 * Shougang Concord Century Holdings, Ltd.......................... 402,299 16,049 * Shougang Concord International Enterprises Co., Ltd............. 81,758,208 4,056,285 # Shougang Fushan Resources Group, Ltd............................ 43,564,594 14,613,873 Shui On Land, Ltd............................................... 58,000,803 20,154,303 * Sijia Group Co.................................................. 1,152,649 203,680 Silver Grant International...................................... 20,310,804 2,775,488 * SIM Technology Group, Ltd....................................... 9,345,000 391,897 * Sino Dragon New Energy Holdings, Ltd............................ 232,000 8,819 * Sino Oil And Gas Holdings, Ltd.................................. 81,430,000 2,230,067 Sino-Ocean Land Holdings, Ltd................................... 44,240,213 28,052,717 # Sinofert Holdings, Ltd.......................................... 33,002,000 5,358,481 * Sinolink Worldwide Holdings, Ltd................................ 16,942,508 1,660,589 # Sinopec Kantons Holdings, Ltd................................... 9,011,010 8,220,473 Sinotrans Shipping, Ltd......................................... 16,063,416 5,283,014 Sinotrans, Ltd. Class H......................................... 24,472,000 6,028,912 # Sinotruk Hong Kong, Ltd......................................... 9,113,335 4,772,226 SITC International Holdings Co., Ltd............................ 52,000 22,053 # Skyworth Digital Holdings, Ltd.................................. 30,901,796 14,990,675 * SMI Corp., Ltd.................................................. 11,728,000 301,452 # SOHO China, Ltd................................................. 29,586,388 25,973,185 * Solargiga Energy Holdings, Ltd.................................. 8,770,486 418,596 Sparkle Roll Group, Ltd......................................... 600,000 40,278 #* SRE Group, Ltd.................................................. 41,222,285 1,486,501 Sunac China Holdings, Ltd....................................... 835,000 579,449 TCC International Holdings, Ltd................................. 14,035,056 5,194,826 * TCL Communication Technology Holdings, Ltd...................... 1,447,392 1,317,616 TCL Multimedia Technology Holdings, Ltd......................... 7,636,200 3,143,563 Texhong Textile Group, Ltd...................................... 1,020,000 1,784,736 Tian An China Investment........................................ 7,019,000 5,793,304 Tian Shan Development Holding, Ltd.............................. 806,000 269,225 Tiangong International Co., Ltd................................. 15,623,944 4,009,229 Tianjin Port Development Holdings, Ltd.......................... 13,033,657 2,269,018 # Tianneng Power International, Ltd............................... 3,232,280 1,220,955 Tomson Group, Ltd............................................... 2,979,206 922,864 * Tonly Electronics Holdings, Ltd................................. 760,220 448,111 # TPV Technology, Ltd............................................. 10,594,496 2,241,748 Travelsky Technology, Ltd. Class H.............................. 16,668,500 14,256,566 * Trony Solar Holdings Co., Ltd................................... 8,775,000 713,047 # Truly International Holdings.................................... 16,069,500 10,256,254 * VODone, Ltd..................................................... 39,256,000 3,391,930 Wasion Group Holdings, Ltd...................................... 5,697,291 3,569,366 Weiqiao Textile Co. Class H..................................... 7,549,500 4,603,590 7 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- CHINA -- (Continued) # West China Cement, Ltd................................... 27,984,000 $ 4,184,696 #* Winsway Coking Coal Holdings, Ltd........................ 1,201,000 91,291 Xiamen International Port Co., Ltd. Class H.............. 15,252,000 2,066,350 Xiangyu Dredging Holdings, Ltd........................... 124,000 31,649 Xingda International Holdings, Ltd....................... 10,726,000 6,517,798 # Xinhua Winshare Publishing and Media Co., Ltd. Class H... 4,837,000 2,840,663 # Xinjiang Goldwind Science & Technology Co., Ltd. Class H. 1,354,800 1,383,169 #* Xinjiang Xinxin Mining Industry Co., Ltd. Class H........ 10,075,000 1,582,256 Xiwang Property Holdings Co., Ltd........................ 9,790,736 1,400,479 XTEP International Holdings.............................. 2,464,500 1,214,608 * Yanchang Petroleum International, Ltd.................... 46,150,000 2,024,594 Yantai North Andre Juice Co. Class H..................... 199,000 49,637 # Yanzhou Coal Mining Co., Ltd. Class H.................... 4,038,000 4,183,463 Yip's Chemical Holdings, Ltd............................. 438,000 368,068 Youyuan International Holdings, Ltd...................... 148,229 43,111 Yuanda China Holdings, Ltd............................... 222,000 18,878 Yuexiu Property Co., Ltd................................. 75,308,170 20,992,339 Yuzhou Properties Co..................................... 1,997,960 489,767 Zhengzhou Coal Mining Machinery Group Co., Ltd. Class H.. 242,600 146,405 * Zhong An Real Estate, Ltd................................ 4,970,800 986,351 # Zoomlion Heavy Industry Science and Technology Co., Ltd.. 1,261,600 1,167,033 -------------- TOTAL CHINA.................................................. 2,905,492,815 -------------- COLOMBIA -- (0.1%) Almacenes Exito SA....................................... 13,287 222,580 Cementos Argos SA........................................ 599,201 3,163,272 * Fabricato SA............................................. 18,582,617 140,915 Grupo de Inversiones Suramericana SA..................... 587,587 11,643,994 Grupo Nutresa SA......................................... 290,002 4,137,741 -------------- TOTAL COLOMBIA............................................... 19,308,502 -------------- CZECH REPUBLIC -- (0.1%) CEZ A.S.................................................. 159,805 4,598,659 Pegas Nonwovens SA....................................... 135,370 4,201,345 Telefonica Czech Republic A.S............................ 575,228 9,379,338 * Unipetrol A.S............................................ 1,424,029 12,762,061 -------------- TOTAL CZECH REPUBLIC......................................... 30,941,403 -------------- HONG KONG -- (0.0%) * FU JI Food and Catering Services Holdings, Ltd........... 127,500 26,658 -------------- HUNGARY -- (0.5%) * Danubius Hotel and SpA P.L.C............................. 122,501 2,676,210 #* FHB Mortgage Bank P.L.C.................................. 2,790 4,552 Fotex Holding SE......................................... 451,256 485,425 MOL Hungarian Oil and Gas P.L.C.......................... 83,141 5,684,668 # OTP Bank P.L.C........................................... 3,936,697 81,667,483 * PannErgy................................................. 119,850 162,831 #* Tisza Chemical Group P.L.C............................... 235,486 3,444,062 -------------- TOTAL HUNGARY................................................ 94,125,231 -------------- 8 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- INDIA -- (6.0%) Aban Offshore, Ltd...................... 126,304 $ 523,189 * ABG Shipyard, Ltd....................... 278,976 1,324,665 Adani Enterprises, Ltd.................. 2,856,396 9,637,539 Aditya Birla Nuvo, Ltd.................. 575,521 11,446,571 Ajmera Realty & Infra India, Ltd........ 2,214 2,018 Akzo Nobel India, Ltd................... 37,121 503,382 Alembic Pharmaceuticals, Ltd............ 408,328 1,318,775 Allahabad Bank.......................... 2,114,906 3,151,743 * Alok Industries, Ltd.................... 9,805,809 1,267,963 Amara Raja Batteries, Ltd............... 14,826 75,661 Amtek Auto, Ltd......................... 1,204,473 1,269,712 Amtek India, Ltd........................ 285,945 300,444 Anant Raj, Ltd.......................... 1,954,588 1,760,245 Andhra Bank............................. 2,676,709 2,554,149 Apollo Hospitals Enterprise, Ltd........ 72,286 1,063,115 Apollo Tyres, Ltd....................... 3,305,514 3,669,955 Arvind, Ltd............................. 3,512,719 6,077,709 Ashok Leyland, Ltd...................... 20,205,663 5,681,320 Asian Hotels East, Ltd.................. 1,050 2,337 Atul, Ltd............................... 11,624 71,391 Aurobindo Pharma, Ltd................... 837,283 2,949,930 Axis Bank, Ltd.......................... 54,894 1,093,006 Bajaj Finance, Ltd...................... 95,610 2,120,203 Bajaj Finserv, Ltd...................... 31,789 331,439 Bajaj Hindusthan, Ltd................... 2,732,248 603,196 Bajaj Holdings and Investment, Ltd...... 380,476 5,117,286 Ballarpur Industries, Ltd............... 4,000,857 835,233 Balmer Lawrie & Co., Ltd................ 120,671 607,394 Balrampur Chini Mills, Ltd.............. 2,524,982 1,684,488 Bank of Baroda.......................... 1,436,080 15,066,115 Bank of India........................... 2,100,856 7,237,005 Bank Of Maharashtra..................... 1,498,465 959,942 BEML, Ltd............................... 112,246 343,325 BGR Energy Systems, Ltd................. 82,794 155,679 Bharat Electronics, Ltd................. 10,591 181,517 Bharat Heavy Electricals, Ltd........... 3,259,960 7,480,733 Bhushan Steel, Ltd...................... 1,124,384 8,788,543 Birla Corp., Ltd........................ 131,129 458,588 Bombay Burmah Trading Co................ 1,746 3,221 Bombay Dyeing & Manufacturing Co., Ltd.. 1,237,789 1,376,225 * Bombay Rayon Fashions, Ltd.............. 29,238 90,854 Brigade Enterprises, Ltd................ 10,795 9,803 Cairn India, Ltd........................ 7,011,708 36,411,736 Canara Bank............................. 1,809,669 7,624,344 Capital First, Ltd...................... 273,553 682,338 Central Bank Of India................... 3,187,732 2,823,763 Century Textiles & Industries, Ltd...... 661,122 2,939,534 Chambal Fertilizers & Chemicals, Ltd.... 1,677,990 948,905 City Union Bank, Ltd.................... 1,450,289 1,135,991 Claris Lifesciences, Ltd................ 86,438 248,484 Coromandel International, Ltd........... 25,570 92,236 Corp. Bank.............................. 422,867 1,969,705 9 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- INDIA -- (Continued) Cox & Kings, Ltd..................................... 100,113 $ 149,526 * Cranes Software International, Ltd................... 114,443 9,201 Crompton Greaves, Ltd................................ 196,049 336,734 Dalmia Bharat, Ltd................................... 159,852 312,682 * DB Realty, Ltd....................................... 1,426,693 1,416,843 DCM Shriram Consolidated............................. 216,498 195,004 Deepak Fertilisers & Petrochemicals Corp., Ltd....... 424,886 724,960 Dena Bank............................................ 1,288,549 1,124,501 * Development Credit Bank, Ltd......................... 2,874,325 2,395,654 Dewan Housing Finance Corp., Ltd..................... 115,020 286,592 DLF, Ltd............................................. 8,739,385 21,537,416 Dredging Corp. Of India, Ltd......................... 65,400 269,450 Edelweiss Financial Services, Ltd.................... 1,091,035 540,853 * Educomp Solutions, Ltd............................... 759,504 294,723 Eicher Motors, Ltd................................... 23,207 1,494,290 EID Parry India, Ltd................................. 818,733 1,904,450 EIH, Ltd............................................. 877,249 784,490 Elder Pharmaceuticals, Ltd........................... 109,689 563,122 Electrosteel Castings, Ltd........................... 821,207 181,457 * Era Infra Engineering, Ltd........................... 1,059,075 653,247 Eros International Media, Ltd........................ 28,242 72,480 Escorts, Ltd......................................... 1,425,781 2,243,432 Ess Dee Aluminium, Ltd............................... 42,453 350,662 * Essar Oil, Ltd....................................... 1,456,017 1,233,868 Essar Ports, Ltd..................................... 667,039 662,222 * Essar Shipping, Ltd.................................. 251,119 72,792 Essel Propack, Ltd................................... 724,110 505,297 Federal Bank, Ltd.................................... 9,157,930 12,284,447 * Federal-Mogul Goetze India, Ltd...................... 3,731 11,948 Finolex Cables, Ltd.................................. 562,944 554,184 Finolex Industries, Ltd.............................. 695,629 1,457,798 * Firstsource Solutions, Ltd........................... 326,484 110,016 * Fortis Healthcare, Ltd............................... 1,369,445 2,185,037 * Future Consumer Enterprise, Ltd...................... 145,968 13,936 * Future Lifestyle Fashions, Ltd....................... 4,709 5,440 GAIL India, Ltd...................................... 904,199 5,180,826 Gammon India, Ltd.................................... 162,933 35,185 Gateway Distriparks, Ltd............................. 231,605 428,806 * Gitanjali Gems, Ltd.................................. 405,156 429,364 Graphite India, Ltd.................................. 586,551 720,469 Grasim Industries, Ltd............................... 15,142 693,069 Great Eastern Shipping Co., Ltd. (The)............... 1,018,431 4,612,695 * GTL Infrastructure, Ltd.............................. 1,550,337 40,389 Gujarat Alkalies & Chemicals, Ltd.................... 449,629 1,178,033 Gujarat Fluorochemicals, Ltd......................... 254,828 1,030,202 Gujarat Mineral Development Corp., Ltd............... 22,374 37,435 Gujarat Narmada Valley Fertilizers & Chemicals, Ltd.. 729,530 730,965 * Gujarat NRE Coke, Ltd................................ 3,619,364 766,401 Gujarat State Fertilisers & Chemicals, Ltd........... 2,186,080 2,123,359 Gujarat State Petronet, Ltd.......................... 1,637,688 1,490,962 Gulf Oil Corp., Ltd.................................. 239,031 307,381 HBL Power Systems, Ltd............................... 238,276 36,470 10 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- INDIA -- (Continued) * HCL Infosystems, Ltd.......................... 1,297,616 $ 496,058 HEG, Ltd...................................... 138,303 387,257 * HeidelbergCement India, Ltd................... 699,011 426,275 * Hexa Tradex, Ltd.............................. 270,573 61,711 Hindalco Industries, Ltd...................... 21,204,295 39,765,793 Hinduja Global Solutions, Ltd................. 60,085 363,921 Hinduja Ventures, Ltd......................... 67,133 290,987 * Hindustan Construction Co., Ltd............... 7,005,199 1,614,267 * Hotel Leela Venture, Ltd...................... 1,571,597 400,431 * Housing Development & Infrastructure, Ltd..... 5,496,603 3,822,976 HSIL, Ltd..................................... 187,119 248,129 ICICI Bank, Ltd............................... 590,476 10,720,668 ICICI Bank, Ltd. Sponsored ADR................ 3,394,535 126,684,046 IDBI Bank, Ltd................................ 4,050,509 4,455,625 Idea Cellular, Ltd............................ 2,084,780 5,837,885 IDFC, Ltd..................................... 6,072,777 10,494,915 IFCI, Ltd..................................... 6,602,323 2,617,533 India Cements, Ltd............................ 3,824,624 3,110,287 India Infoline, Ltd........................... 2,848,913 2,640,342 Indiabulls Housing Finance, Ltd............... 1,795,884 6,172,896 * Indiabulls Infrastructure and Power, Ltd...... 10,265,089 609,007 Indiabulls Real Estate, Ltd................... 2,937,281 2,999,354 Indian Bank................................... 1,269,647 1,741,669 Indian Hotels Co., Ltd........................ 4,834,301 3,854,588 Indian Overseas Bank.......................... 3,114,234 2,581,709 Indo Rama Synthetics India.................... 20,657 6,354 Infotech Enterprises, Ltd..................... 26,080 106,706 ING Vysya Bank, Ltd........................... 265,599 2,549,723 Ingersoll-Rand India, Ltd..................... 30,001 162,084 * IVRCL, Ltd.................................... 621,115 132,169 Jai Corp., Ltd................................ 933,327 761,218 Jain Irrigation Systems, Ltd.................. 2,286,369 2,488,219 Jaiprakash Associates, Ltd.................... 20,703,122 16,048,175 Jammu & Kashmir Bank, Ltd..................... 313,797 6,702,446 Jaypee Infratech, Ltd......................... 919,378 267,887 JB Chemicals & Pharmaceuticals, Ltd........... 373,888 617,222 JBF Industries, Ltd........................... 157,552 207,969 * Jet Airways India, Ltd........................ 113,716 630,081 Jindal Poly Films, Ltd........................ 188,270 427,718 * Jindal Poly Investments and Finance Co., Ltd.. 53,426 4,521 Jindal Saw, Ltd............................... 2,076,447 1,610,093 * Jindal Stainless, Ltd......................... 816,596 509,455 Jindal Steel & Power, Ltd..................... 1,968,704 7,711,468 JK Cement, Ltd................................ 130,262 410,748 JK Lakshmi Cement, Ltd........................ 377,490 413,259 JM Financial, Ltd............................. 4,580,382 2,075,329 JSW Energy, Ltd............................... 5,496,957 4,146,908 JSW Steel, Ltd................................ 1,799,096 25,208,355 Jubilant Life Sciences, Ltd................... 566,698 920,355 Kakinada Fertilizers, Ltd..................... 2,082,494 379,868 Kalpataru Power Transmission, Ltd............. 220,665 278,756 * Kalyani Investment Co., Ltd................... 849 4,294 11 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- INDIA -- (Continued) Karnataka Bank, Ltd........................ 2,195,065 $3,624,844 Karur Vysya Bank, Ltd...................... 313,960 1,750,410 KEC International, Ltd..................... 377,505 222,672 Kesoram Industries, Ltd.................... 449,716 444,978 Kirloskar Brothers, Ltd.................... 2,141 5,407 Kirloskar Oil Engines, Ltd................. 318,856 775,706 KSB Pumps, Ltd............................. 7,207 28,201 * KSK Energy Ventures, Ltd................... 20,905 20,300 Lakshmi Vilas Bank, Ltd.................... 457,710 545,325 * Mahanagar Telephone Nigam.................. 1,531,804 357,875 * Mahanagar Telephone Nigam ADR.............. 1 -- Maharashtra Seamless, Ltd.................. 194,873 503,917 Mahindra Lifespace Developers, Ltd......... 143,080 996,704 Man Infraconstruction, Ltd................. 1,968 3,821 Manaksia, Ltd.............................. 58,953 44,981 McLeod Russel India, Ltd................... 530,373 2,365,022 * Mercator, Ltd.............................. 1,844,763 377,290 Merck, Ltd................................. 22,680 206,762 MOIL, Ltd.................................. 4,675 17,769 Monnet Ispat & Energy, Ltd................. 179,359 380,783 Motilal Oswal Financial Services, Ltd...... 4,955 5,672 Mphasis, Ltd............................... 23,537 161,987 MRF, Ltd................................... 12,646 3,220,868 * Nagarjuna Oil Refinery, Ltd................ 1,423,716 98,600 Nahar Capital and Financial Services, Ltd.. 8,332 6,294 National Aluminium Co., Ltd................ 1,690,461 1,008,327 Nava Bharat Ventures, Ltd.................. 27,806 70,559 NCC, Ltd................................... 2,621,585 1,108,228 NIIT Technologies, Ltd..................... 444,772 2,020,211 NIIT, Ltd.................................. 966,307 312,097 Noida Toll Bridge Co., Ltd................. 336,090 112,785 Oberoi Realty, Ltd......................... 3,796 11,656 OCL India, Ltd............................. 61,362 140,031 OMAXE, Ltd................................. 808,891 1,849,183 Orchid Chemicals & Pharmaceuticals, Ltd.... 394,153 313,128 Orient Cement Ltd.......................... 567,622 347,112 Orient Paper & Industries, Ltd............. 47,163 5,942 Oriental Bank of Commerce.................. 1,205,589 3,535,011 * Oswal Chemicals & Fertilizers.............. 441,732 158,012 * Panacea Biotec, Ltd........................ 23,946 41,361 * Parsvnath Developers, Ltd.................. 1,662,316 708,245 Peninsula Land, Ltd........................ 293,451 146,499 Petronet LNG, Ltd.......................... 445,838 895,763 Piramal Enterprises, Ltd................... 755,009 6,911,353 * Plethico Pharmaceuticals, Ltd.............. 213,627 120,095 Polaris Financial Technology, Ltd.......... 805,757 1,877,971 Polyplex Corp., Ltd........................ 17,713 38,156 Power Finance Corp., Ltd................... 16,793 36,662 * Prime Focus, Ltd........................... 8,309 4,323 * Prism Cement, Ltd.......................... 389,471 169,358 PTC India Financial Services, Ltd.......... 450,875 82,079 PTC India, Ltd............................. 3,823,336 3,482,031 12 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- INDIA -- (Continued) * Punj Lloyd, Ltd......................... 1,800,182 $ 824,520 Punjab & Sind Bank...................... 116,252 83,700 Rain Industries, Ltd.................... 1,429,773 842,472 Rajesh Exports, Ltd..................... 287,502 447,184 Ramco Cements, Ltd. (The)............... 348,305 1,005,297 Raymond, Ltd............................ 528,762 2,295,393 Redington India, Ltd.................... 7,919 7,967 REI Agro, Ltd........................... 5,013,829 521,499 Reliance Capital, Ltd................... 1,987,403 12,017,303 Reliance Communications, Ltd............ 11,935,464 28,701,161 Reliance Industries, Ltd................ 20,872,830 310,667,472 Reliance Industries, Ltd. GDR........... 107,000 3,189,426 * Reliance Power, Ltd..................... 12,808,748 15,260,737 Rolta India, Ltd........................ 1,854,686 1,894,569 Ruchi Soya Industries, Ltd.............. 1,735,191 986,949 Rural Electrification Corp., Ltd........ 2,768,400 8,764,921 * S Kumars Nationwide, Ltd................ 646,995 54,745 Sesa Sterlite, Ltd...................... 9,898,533 32,375,101 * Sesa Sterlite, Ltd. ADR................. 1,544,183 19,919,966 * Shipping Corp. of India, Ltd............ 2,334,024 1,317,206 Shree Renuka Sugars, Ltd................ 8,427,268 3,096,353 Sintex Industries, Ltd.................. 2,196,726 1,170,108 Sobha Developers, Ltd................... 500,107 2,523,053 South Indian Bank, Ltd.................. 9,724,062 3,344,579 SREI Infrastructure Finance, Ltd........ 1,470,670 492,360 SRF, Ltd................................ 290,002 772,212 State Bank of Bikaner & Jaipur.......... 32,697 172,432 State Bank of India..................... 2,733,925 79,863,846 State Bank of India GDR................. 5,732 336,092 Steel Authority of India, Ltd........... 7,925,317 8,009,185 * Sterling Biotech, Ltd................... 507,995 43,067 Sterlite Technologies, Ltd.............. 1,777,282 600,459 Styrolution ABS India, Ltd.............. 28,114 175,970 Sundaram Finance, Ltd................... 6,602 56,953 Sundram Fasteners, Ltd.................. 25,783 15,139 * Suzlon Energy, Ltd...................... 17,000,653 2,653,186 Syndicate Bank.......................... 2,880,564 3,839,344 Tamil Nadu Newsprint & Papers, Ltd...... 45,093 76,849 Tata Chemicals, Ltd..................... 1,201,925 5,245,188 Tata Communications, Ltd................ 214,358 921,538 Tata Global Beverages, Ltd.............. 4,797,103 12,799,623 Tata Investment Corp., Ltd.............. 27,375 179,354 Tata Steel, Ltd......................... 9,447,861 51,780,012 Techno Electric & Engineering Co., Ltd.. 1,571 2,071 * Teledata Marine Solutions, Ltd.......... 267,258 1,305 Time Technoplast, Ltd................... 498,379 275,598 Titagarh Wagons, Ltd.................... 13,818 21,534 Transport Corp. of India, Ltd........... 2,070 1,741 Trent, Ltd.............................. 18,226 272,931 Triveni Turbine, Ltd.................... 230,208 196,719 Tube Investments of India, Ltd.......... 503,633 1,199,892 * Tulip Telecom, Ltd...................... 555,643 67,995 13 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- INDIA -- (Continued) * TV18 Broadcast, Ltd.................................. 5,187,701 $ 1,957,706 UCO Bank............................................. 5,005,513 5,911,328 Uflex, Ltd........................................... 339,502 371,486 Unichem Laboratories, Ltd............................ 186,357 542,686 Union Bank of India.................................. 991,918 1,992,544 * Unitech, Ltd......................................... 31,412,365 8,927,476 United Bank of India................................. 31,454 17,281 UPL, Ltd............................................. 4,095,031 10,920,615 Usha Martin, Ltd..................................... 1,811,897 742,133 * Uttam Galva Steels, Ltd.............................. 14,790 14,065 * Vardhman Special Steels, Ltd......................... 6,934 1,590 Vardhman Textiles, Ltd............................... 110,493 638,858 * Videocon Industries, Ltd............................. 1,114,865 3,147,557 Vijaya Bank.......................................... 2,618,930 1,759,694 Voltamp Transformers, Ltd............................ 724 4,309 Voltas, Ltd.......................................... 319,969 465,132 Welspun Corp., Ltd................................... 1,847,557 1,277,756 Wockhardt, Ltd....................................... 7,920 57,443 Zensar Technologies, Ltd............................. 19,011 83,300 Zuari Agro Chemicals, Ltd............................ 128,304 196,506 Zuari Global, Ltd.................................... 80,080 68,480 -------------- TOTAL INDIA.............................................. 1,250,187,705 -------------- INDONESIA -- (2.3%) Adaro Energy Tbk PT.................................. 100,242,500 9,062,394 Adhi Karya Persero Tbk PT............................ 9,143,117 1,580,144 * Agis Tbk PT.......................................... 57,627,500 2,299,793 Agung Podomoro Land Tbk PT........................... 40,662,000 1,008,137 Aneka Tambang Persero Tbk PT......................... 71,793,000 10,174,395 Asahimas Flat Glass Tbk PT........................... 5,277,000 3,864,752 Astra Graphia Tbk PT................................. 3,635,000 535,089 * Bakrie and Brothers Tbk PT........................... 1,056,525,750 4,686,297 * Bakrie Sumatera Plantations Tbk PT................... 182,168,500 808,264 * Bakrie Telecom Tbk PT................................ 260,426,500 1,153,707 * Bakrieland Development Tbk PT........................ 623,458,520 2,767,539 Bank Bukopin Tbk PT.................................. 61,873,833 3,564,283 Bank Danamon Indonesia Tbk PT........................ 34,396,054 13,129,919 Bank Mandiri Persero Tbk PT.......................... 63,214,431 48,270,485 Bank Negara Indonesia Persero Tbk PT................. 118,251,941 50,409,297 * Bank Pan Indonesia Tbk PT............................ 150,362,201 9,579,800 Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT. 15,967,500 1,291,662 * Bank Permata Tbk PT.................................. 381,272 48,160 Bank Tabungan Negara Persero Tbk PT.................. 56,254,527 4,841,948 * Barito Pacific Tbk PT................................ 15,599,000 664,406 * Benakat Petroleum Energy Tbk PT...................... 44,311,000 467,483 * Berau Coal Energy Tbk PT............................. 30,316,500 486,880 * Berlian Laju Tanker Tbk PT........................... 128,161,466 -- Bisi International PT................................ 12,634,000 682,652 * Borneo Lumbung Energi & Metal Tbk PT................. 12,594,500 245,422 * Budi Starch & Sweetener Tbk PT....................... 14,636,500 123,297 * Bumi Resources Minerals Tbk PT....................... 3,687,500 76,768 * Bumi Resources Tbk PT................................ 232,625,500 9,367,564 14 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- INDONESIA -- (Continued) Bumi Serpong Damai PT................................. 13,195,000 $ 1,830,396 BW Plantation Tbk PT.................................. 6,452,500 531,917 * Central Proteinaprima Tbk PT.......................... 178,071,500 789,923 Charoen Pokphand Indonesia Tbk PT..................... 51,749,330 17,885,286 Ciputra Development Tbk PT............................ 115,725,500 10,558,990 Ciputra Property Tbk PT............................... 8,775,000 612,543 Ciputra Surya Tbk PT.................................. 16,634,000 3,346,543 Clipan Finance Indonesia Tbk PT....................... 2,995,500 111,910 * Darma Henwa Tbk PT.................................... 246,575,442 1,093,703 * Davomas Abadi Tbk PT.................................. 138,239,500 -- * Delta Dunia Makmur Tbk PT............................. 25,728,000 198,169 Elnusa Tbk PT......................................... 27,207,500 747,776 * Energi Mega Persada Tbk PT............................ 570,221,378 4,044,066 * Erajaya Swasembada Tbk PT............................. 2,641,000 318,391 * Ever Shine Textile Tbk PT............................. 19,342,215 291,699 * Exploitasi Energi Indonesia Tbk PT.................... 1,315,500 30,338 Gajah Tunggal Tbk PT.................................. 25,448,500 5,187,134 * Garuda Indonesia Persero Tbk PT....................... 16,655,500 723,638 Global Mediacom Tbk PT................................ 94,263,500 15,966,170 * Gozco Plantations Tbk PT.............................. 26,992,900 277,683 * Great River International Tbk PT...................... 1,788,000 -- Gudang Garam Tbk PT................................... 2,837,000 9,275,605 Hexindo Adiperkasa Tbk PT............................. 1,104,344 308,518 Holcim Indonesia Tbk PT............................... 16,224,000 3,705,166 * Indah Kiat Pulp & Paper Corp. Tbk PT.................. 33,416,500 4,560,017 Indika Energy Tbk PT.................................. 27,402,500 1,894,234 * Indo-Rama Synthetics Tbk PT........................... 41,500 4,062 Indofood Sukses Makmur Tbk PT......................... 61,516,000 36,240,711 Intiland Development Tbk PT........................... 39,486,500 1,294,087 Japfa Comfeed Indonesia Tbk PT........................ 27,068,750 3,359,220 Jaya Real Property Tbk PT............................. 127,605,000 9,960,408 Kawasan Industri Jababeka Tbk PT...................... 303,309,210 6,578,142 * Krakatau Steel Persero Tbk PT......................... 2,260,500 112,249 * Lippo Cikarang Tbk PT................................. 856,000 511,143 * Lippo Karawaci Tbk PT................................. 342,058,249 34,251,040 Matahari Putra Prima Tbk PT........................... 36,305,900 7,722,958 Mayora Indah Tbk PT................................... 8,048,917 20,885,967 Medco Energi Internasional Tbk PT..................... 27,137,000 5,896,819 * Mitra International Resources Tbk PT.................. 22,160,160 115,895 MNC Investama Tbk PT.................................. 285,591,200 8,860,400 * Modernland Realty Tbk PT.............................. 3,277,000 235,335 Multipolar Corp. Tbk PT............................... 44,134,500 1,584,061 Nusantara Infrastructure Tbk PT....................... 1,708,500 38,649 Pabrik Kertas Tjiwi Kimia Tbk PT...................... 246,000 42,214 * Pan Brothers Tbk PT................................... 87,500 4,577 * Panasia Indo Resources Tbk PT......................... 403,200 14,844 * Panin Financial Tbk PT................................ 241,705,000 4,284,224 Panin Insurance Tbk PT................................ 30,949,000 1,954,133 Pembangunan Perumahan Persero Tbk PT.................. 9,326,500 1,082,230 Perusahaan Perkebunan London Sumatra Indonesia Tbk PT. 34,435,884 4,883,056 Petrosea Tbk PT....................................... 3,762,500 447,232 * Polychem Indonesia Tbk PT............................. 17,280,000 459,332 15 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- INDONESIA -- (Continued) Ramayana Lestari Sentosa Tbk PT................ 23,587,500 $ 2,573,032 Salim Ivomas Pratama Tbk PT.................... 1,138,000 80,694 Sampoerna Agro PT.............................. 11,532,941 1,819,162 Samudera Indonesia Tbk PT...................... 133,000 38,083 Selamat Sempurna Tbk PT........................ 12,756,500 3,167,685 * Sentul City Tbk PT............................. 305,279,500 5,813,362 Sinar Mas Agro Resources and Technology Tbk PT. 7,808,900 4,501,214 Sinar Mas Multiartha Tbk PT.................... 2,000 672 Summarecon Agung Tbk PT........................ 30,528,714 2,838,717 * Sunson Textile Manufacturer Tbk PT............. 4,096,500 40,299 * Surya Dumai Industri Tbk....................... 5,145,000 -- Surya Semesta Internusa Tbk PT................. 1,353,500 95,965 Surya Toto Indonesia Tbk PT.................... 446,000 294,585 * Suryainti Permata Tbk PT....................... 17,378,000 -- Tiga Pilar Sejahtera Food Tbk.................. 31,305,222 3,662,900 Timah Persero Tbk PT........................... 37,324,900 5,358,468 Trias Sentosa Tbk PT........................... 336,500 8,959 * Trimegah Securities Tbk PT..................... 27,395,000 162,995 * Truba Alam Manunggal Engineering PT............ 129,244,500 573,273 Tunas Baru Lampung Tbk PT...................... 17,379,500 739,563 Tunas Ridean Tbk PT............................ 42,848,500 2,165,817 * Ultrajaya Milk Industry & Trading Co. Tbk PT... 10,129,000 4,421,962 Unggul Indah Cahaya Tbk PT..................... 371,435 62,277 United Tractors Tbk PT......................... 7,442,500 11,551,318 Vale Indonesia Tbk PT.......................... 41,280,500 9,040,416 Wijaya Karya Persero Tbk PT.................... 2,648,002 450,598 XL Axiata Tbk PT............................... 1,556,500 617,410 ------------ TOTAL INDONESIA.................................... 476,382,766 ------------ ISRAEL -- (0.0%) * Feuchtwanger Investments, Ltd.................. 10,500 -- * Israel Steel Mills, Ltd........................ 97,000 -- * Knafaim Holdings, Ltd.......................... 68,239 130,481 * Liberty Properties, Ltd........................ 2,533 20,113 Mivtach Shamir................................. 3,973 146,008 ------------ TOTAL ISRAEL....................................... 296,602 ------------ MALAYSIA -- (3.6%) Adventa Bhd.................................... 62,000 19,626 Affin Holdings Bhd............................. 9,734,200 13,147,591 AirAsia BHD.................................... 20,058,200 17,028,319 Alam Maritim Resources Bhd..................... 4,436,100 2,233,536 Alliance Financial Group Bhd................... 16,295,200 26,785,755 AMMB Holdings Bhd.............................. 23,929,662 56,162,220 * Ann Joo Resources Bhd.......................... 2,973,600 1,130,532 APM Automotive Holdings Bhd.................... 1,269,000 2,307,566 Batu Kawan BHD................................. 2,078,750 12,891,090 Benalec Holdings BHD........................... 64,000 24,144 Berjaya Assets BHD............................. 171,900 46,236 Berjaya Corp. Bhd.............................. 40,095,380 6,857,275 Berjaya Land Bhd............................... 13,220,000 3,540,281 BIMB Holdings Bhd.............................. 4,592,000 7,009,630 16 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- MALAYSIA -- (Continued) BLD Plantation Bhd........................ 6,600 $ 17,778 * Boustead Heavy Industries Corp. Bhd....... 110,600 92,789 Boustead Holdings Bhd..................... 7,513,698 12,453,666 Cahya Mata Sarawak Bhd.................... 2,932,300 4,737,022 Can-One Bhd............................... 338,800 375,712 CB Industrial Product Holding Bhd......... 1,223,600 1,136,099 Chin Teck Plantations BHD................. 309,100 920,864 Coastal Contracts Bhd..................... 3,224,100 3,585,991 CSC Steel Holdings Bhd.................... 2,503,800 1,046,945 * Cycle & Carriage Bintang BHD.............. 213,000 168,082 * Datuk Keramik Holdings Berhad............. 127,000 -- Daya Materials Bhd........................ 10,663,200 1,351,209 DRB-Hicom Bhd............................. 18,941,300 15,242,352 Eastern & Oriental Bhd.................... 15,361,115 9,777,892 ECM Libra Financial Group Bhd............. 2,242,050 746,329 Evergreen Fibreboard Bhd.................. 2,865,126 431,193 Eversendai Corp. Bhd...................... 410,600 192,623 Faber Group BHD........................... 3,989,500 3,316,398 FAR East Holdings BHD..................... 403,800 959,133 * Fountain View Development Berhad.......... 2,573,200 -- Genting Bhd............................... 2,411,600 8,006,568 Genting Malaysia Bhd...................... 21,104,900 28,887,345 Genting Plantations Bhd................... 306,300 1,055,795 Globetronics Technology BHD............... 737,600 705,728 Glomac Bhd................................ 7,220,000 2,584,962 * Goldis BHD................................ 3,133,491 1,975,171 GuocoLand Malaysia Bhd.................... 1,886,200 675,217 HAP Seng Consolidated Bhd................. 14,443,600 11,211,562 Hap Seng Plantations Holdings Bhd......... 3,806,300 3,195,307 Hiap Teck Venture Bhd..................... 251,500 57,391 Hong Leong Financial Group Bhd............ 2,408,451 11,543,867 Hong Leong Industries Bhd................. 1,257,300 2,064,790 Hua Yang Bhd.............................. 500,533 342,685 * Hubline Bhd............................... 5,352,350 92,996 HwangDBS Malaysia BHD..................... 930,700 1,264,814 IGB Corp. Bhd............................. 15,129,990 12,760,097 IGB REIT.................................. 469,643 178,551 IJM Corp. Bhd............................. 23,388,559 43,004,597 IJM Land Bhd.............................. 6,726,800 5,960,564 IJM Plantations Bhd....................... 514,200 528,176 Inch Kenneth Kajang Rubber................ 1,123,300 324,002 Insas Bhd................................. 6,251,048 1,266,870 Integrated Logistics Bhd.................. 253,300 158,186 Integrax BHD.............................. 955,700 590,675 Iris Corp. Bhd............................ 10,460,800 894,708 * JAKS Resources Bhd........................ 9,634,600 1,695,925 Jaya Tiasa Holdings BHD................... 3,997,933 2,696,585 JCY International Bhd..................... 10,119,100 2,036,205 * K&N Kenanga Holdings BHD(6486615)......... 4,240,487 799,250 * K&N Kenanga Holdings BHD(B987B91), 5.000%. 418,883 76 * Karambunai Corp. Bhd...................... 18,222,700 520,686 Keck Seng Malaysia Bhd.................... 2,515,500 5,643,789 17 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- MALAYSIA -- (Continued) Kian JOO CAN Factory BHD............. 4,777,380 $ 4,802,265 * KIG Glass Industrial Berhad.......... 260,000 -- Kim Loong Resources Bhd.............. 499,100 382,823 Kimlun Corp. Bhd..................... 304,400 193,983 * Kinsteel Bhd......................... 7,321,700 636,410 KLCC Property Holdings Bhd........... 6,487,800 13,273,748 * KNM Group Bhd........................ 22,283,325 2,894,449 * Kretam Holdings BHD.................. 121,700 133,795 * KSL Holdings BHD..................... 2,891,566 1,891,902 * KUB Malaysia BHD..................... 5,684,400 820,212 Kulim Malaysia BHD................... 9,730,500 10,483,429 Kumpulan Fima BHD.................... 2,385,600 1,488,558 Kumpulan Perangsang Selangor Bhd..... 4,147,200 3,061,995 Kwantas Corp. BHD.................... 288,400 188,800 * Land & General BHD................... 10,889,200 1,207,638 * Landmarks BHD........................ 4,159,308 1,553,773 LBS Bina Group Bhd................... 3,377,500 1,904,452 * Lion Corp. Bhd....................... 1,062,681 35,318 Lion Diversified Holdings Bhd........ 2,887,300 201,216 Lion Industries Corp. Bhd............ 8,486,481 2,378,068 Magnum Bhd........................... 4,280,200 4,491,469 Mah Sing Group Bhd................... 4,487,139 3,182,674 Malayan Flour Mills Bhd.............. 1,537,750 662,552 Malaysia Airports Holdings Bhd....... 3,904,539 10,410,441 * Malaysian Airline System Bhd......... 39,258,100 4,224,269 Malaysian Bulk Carriers Bhd.......... 6,840,625 3,835,591 Malaysian Pacific Industries Bhd..... 961,875 859,196 Malaysian Resources Corp. Bhd........ 18,089,200 8,197,187 MBM Resources BHD.................... 2,500,303 2,978,578 Media Prima Bhd...................... 659,900 552,012 Mega First Corp. BHD................. 1,158,600 671,777 * Metroplex Berhad..................... 817,000 -- * MISC Bhd............................. 10,446,204 16,907,546 MK Land Holdings BHD................. 9,637,500 1,114,628 MKH BHD.............................. 2,001,259 1,623,109 MMC Corp. Bhd........................ 14,801,380 12,567,099 MNRB Holdings Bhd.................... 1,733,900 1,923,598 Mudajaya Group Bhd................... 4,068,700 3,582,957 Muhibbah Engineering M Bhd........... 5,784,900 4,326,305 * Mulpha International Bhd............. 33,432,800 4,499,980 MWE Holdings BHD..................... 291,900 165,515 Naim Holdings Bhd.................... 3,219,300 3,947,583 NCB Holdings Bhd..................... 2,451,500 2,819,272 Negri Sembilan Oil Palms BHD......... 167,600 304,382 Oriental Holdings BHD................ 3,680,879 10,309,580 Oriental Interest BHD................ 139,100 107,999 OSK Holdings BHD..................... 7,208,471 3,752,377 Pacific & Orient BHD................. 334,330 153,620 Panasonic Manufacturing Malaysia BHD. 382,080 2,833,688 * Paracorp Berhad...................... 252,000 -- Paramount Corp. Bhd.................. 1,067,300 530,748 Parkson Holdings Bhd................. 174,100 207,474 18 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- MALAYSIA -- (Continued) * Pelikan International Corp. Bhd............. 774,416 $ 164,262 * Perdana Petroleum Bhd....................... 4,237,300 2,737,737 Perusahaan Sadur Timah Malay................ 6,800 8,596 Pie Industrial BHD.......................... 323,600 538,211 PJ Development Holdings Bhd................. 3,354,800 1,264,917 POS Malaysia BHD............................ 2,160,217 3,907,703 PPB Group Bhd............................... 8,513,266 39,642,281 Press Metal Bhd............................. 2,880,481 2,242,085 * Prime Utilities Berhad...................... 39,000 -- Protasco Bhd................................ 282,200 124,274 RCE Capital Bhd............................. 5,440,500 472,717 RHB Capital Bhd............................. 12,284,291 30,732,061 Rimbunan Sawit Bhd.......................... 4,729,200 1,250,924 Salcon Bhd.................................. 7,974,000 1,706,063 Sarawak Oil Palms Bhd....................... 572,720 1,052,364 Sarawak Plantation Bhd...................... 66,900 54,089 Scientex BHD................................ 43,748 78,042 * Scomi Group Bhd............................. 25,301,600 3,045,557 Selangor Dredging Bhd....................... 1,312,700 376,712 Selangor Properties Bhd..................... 65,700 87,204 Shangri-La Hotels Malaysia Bhd.............. 739,100 1,619,113 Shell Refining Co. Federation of Malaya Bhd. 246,300 556,110 SHL Consolidated BHD........................ 693,700 503,527 SP Setia Bhd................................ 927,800 903,119 Star Publications Malaysia Bhd.............. 276,400 218,133 Subur Tiasa Holdings Bhd.................... 507,130 308,754 Sunway Bhd.................................. 12,360,326 10,913,805 Supermax Corp. Bhd.......................... 8,498,700 7,104,965 Suria Capital Holdings Bhd.................. 694,100 448,764 * Symphony Life Bhd........................... 1,589,910 604,773 Ta Ann Holdings Bhd......................... 1,035,922 1,228,281 TA Enterprise Bhd........................... 20,010,100 4,598,883 TA Global Bhd............................... 11,566,480 1,081,041 TAHPS Group Bhd............................. 27,000 47,471 * Talam Transform Bhd......................... 15,950,050 354,085 TAN Chong Motor Holdings BHD................ 4,685,000 9,350,133 TDM BHD..................................... 13,323,400 3,821,617 * Tebrau Teguh Bhd............................ 503,400 215,350 TH Plantations Bhd.......................... 84,900 47,082 * Time dotCom Bhd............................. 5,476,280 7,025,181 Tiong NAM Logistics Holdings................ 24,900 38,275 Tropicana Corp. Bhd......................... 6,351,400 2,918,713 TSH Resources Bhd........................... 278,300 222,370 UEM Sunrise Bhd............................. 1,347,645 998,548 Unico-Desa Plantations Bhd.................. 4,258,528 1,564,292 Unisem M Bhd................................ 9,111,900 2,554,658 United Malacca Bhd.......................... 960,500 2,194,931 United Plantations BHD...................... 426,400 3,610,846 UOA Development Bhd......................... 2,691,700 1,902,060 VS Industry Bhd............................. 1,337,193 572,153 Wah Seong Corp. Bhd......................... 4,734,411 2,550,276 WCT Holdings Bhd............................ 11,658,615 9,049,968 19 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- MALAYSIA -- (Continued) Wing Tai Malaysia BHD.......................................... 1,868,800 $ 1,550,420 WTK Holdings BHD............................................... 6,727,150 2,769,715 YNH Property Bhd............................................... 5,291,959 3,018,482 YTL Corp. Bhd.................................................. 89,195,050 46,632,909 * YTL Land & Development BHD..................................... 3,111,800 960,444 * Zelan Bhd...................................................... 158,700 13,834 ------------ TOTAL MALAYSIA..................................................... 741,293,938 ------------ MEXICO -- (6.1%) Alfa S.A.B. de C.V. Class A.................................... 51,102,755 139,906,142 # Alpek S.A. de C.V.............................................. 631,407 1,364,707 Arca Continental S.A.B. de C.V................................. 4,253,241 25,166,238 #* Axtel S.A.B. de C.V............................................ 10,839,852 3,414,650 * Bio Pappel S.A.B. de C.V....................................... 275,520 681,871 # Bolsa Mexicana de Valores S.A.B. de C.V........................ 905,099 2,149,109 #* Cemex S.A.B. de C.V. Sponsored ADR............................. 16,838,196 178,148,109 # Cia Minera Autlan S.A.B. de C.V. Series B...................... 1,187,152 808,889 * Consorcio ARA S.A.B. de C.V. Series *.......................... 12,467,832 4,863,957 # Controladora Comercial Mexicana S.A.B. de C.V.................. 5,415,909 22,091,604 # Corp. Actinver S.A.B. de C.V................................... 3,700 4,123 #* Corp. GEO S.A.B. de C.V. Series B.............................. 9,461,653 354,812 #* Corp. Interamericana de Entretenimiento S.A.B. de C.V. Class B. 1,560,786 1,064,668 * Desarrolladora Homex S.A.B. de C.V............................. 3,584,010 888,637 #* Desarrolladora Homex S.A.B. de C.V. ADR........................ 61,523 81,210 * Dine S.A.B. de C.V............................................. 1,027,267 314,938 El Puerto de Liverpool S.A.B. de C.V. Series 1................. 18,600 206,710 * Empaques Ponderosa SA de CV.................................... 90,000 -- #* Empresas ICA S.A.B. de C.V..................................... 6,728,823 12,779,723 #* Empresas ICA S.A.B. de C.V. Sponsored ADR...................... 1,118,155 8,509,160 #* Financiera Independencia S.A.B. de C.V......................... 14,576 5,173 # Fomento Economico Mexicano S.A.B. de C.V....................... 2,311,921 21,609,057 Fomento Economico Mexicano S.A.B. de C.V. Sponsored ADR........ 2,494,369 232,724,627 * Gruma S.A.B. de C.V. Class B................................... 3,607,804 24,806,461 * Gruma S.A.B. de C.V. Sponsored ADR............................. 15,222 416,474 * Grupo Aeromexico S.A.B. de C.V................................. 538,594 743,458 Grupo Aeroportuario del Centro Norte S.A.B. de C.V............. 972,349 3,315,626 # Grupo Aeroportuario del Centro Norte S.A.B. de C.V. ADR........ 46,309 1,259,142 Grupo Aeroportuario del Pacifico S.A.B. de C.V. ADR............ 636,889 33,111,859 Grupo Aeroportuario del Pacifico S.A.B. de C.V. Class B........ 1,268,733 6,606,582 Grupo Aeroportuario del Sureste S.A.B. de C.V. ADR............. 271,607 32,323,949 Grupo Aeroportuario del Sureste S.A.B. de C.V. Class B......... 1,203,482 14,320,304 Grupo Carso S.A.B. de C.V. Series A1........................... 10,399,172 56,661,529 Grupo Cementos de Chihuahua S.A.B. de C.V...................... 2,799,892 8,411,103 # Grupo Comercial Chedraui S.A. de C.V........................... 1,566,365 4,881,366 Grupo Elektra S.A.B. de C.V.................................... 20,542 692,671 * Grupo Famsa S.A.B. de C.V. Class A............................. 3,082,236 5,846,852 Grupo Financiero Banorte S.A.B. de C.V......................... 23,160,991 148,261,585 Grupo Financiero Inbursa S.A.B. de C.V......................... 17,619,069 45,400,609 Grupo Financiero Santander Mexico S.A.B. de C.V. Class B....... 575,750 1,619,500 Grupo Financiero Santander Mexico S.A.B. de C.V. Class B ADR... 532,284 7,521,173 # Grupo Gigante S.A.B. de C.V. Series *.......................... 471,076 989,288 Grupo Industrial Maseca S.A.B. de C.V. Class B................. 2,756,800 4,931,592 20 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- MEXICO -- (Continued) Grupo Industrial Saltillo S.A.B. de C.V..... 1,337,069 $ 2,228,918 Grupo KUO S.A.B. de C.V. Series B........... 2,065,160 3,972,907 Grupo Mexico S.A.B. de C.V. Series B........ 19,272,618 61,079,749 Grupo Posadas S.A.B. de C.V................. 355,600 708,624 * Grupo Qumma S.A. de C.V. Series B........... 5,301 -- #* Grupo Simec S.A.B. de C.V. Series B......... 1,926,796 7,184,550 #* Grupo Simec S.A.B. de C.V. Sponsored ADR.... 19,072 212,081 * Grupo Sports World S.A.B. de C.V............ 25,595 37,076 Grupo Televisa S.A.B. Series CPO............ 128,194 780,036 Grupo Televisa S.A.B. Sponsored ADR......... 214,353 6,524,905 Industrias Bachoco S.A.B. de C.V. ADR....... 3,754 153,877 Industrias Bachoco S.A.B. de C.V. Series B.. 957,465 3,286,155 #* Industrias CH S.A.B. de C.V. Series B....... 3,336,823 16,373,060 #* Inmuebles Carso S.A.B. de C.V............... 10,258,893 10,221,741 # Medica Sur S.A.B. de C.V. Series B.......... 1,000 2,644 Megacable Holdings S.A.B. de C.V............ 149,592 493,586 Mexichem S.A.B. de C.V...................... 143,252 596,844 #* Minera Frisco S.A.B. de C.V................. 8,673,740 22,270,616 #* OHL Mexico S.A.B. de C.V.................... 6,403,139 16,430,826 # Organizacion Cultiba S.A.B. de C.V.......... 4,708 9,743 #* Organizacion Soriana S.A.B. de C.V. Class B. 14,981,589 48,479,387 # Qualitas Controladora S.A.B. de C.V......... 2,013,919 4,760,334 * Savia SA Class A............................ 3,457,285 -- # TV Azteca S.A.B. de C.V..................... 7,377,863 3,681,227 #* Urbi Desarrollos Urbanos S.A.B. de C.V...... 9,102,158 1,095,280 #* Vitro S.A.B. de C.V. Series A............... 1,550,627 3,504,799 -------------- TOTAL MEXICO.................................... 1,273,348,202 -------------- PHILIPPINES -- (1.0%) A Soriano Corp.............................. 20,195,000 3,281,026 Alliance Global Group, Inc.................. 31,474,006 19,204,586 Alsons Consolidated Resources, Inc.......... 17,757,000 558,936 Atlas Consolidated Mining & Development..... 3,081,800 881,267 BDO Unibank, Inc............................ 10,143,695 19,030,295 Cebu Air, Inc............................... 340,860 415,979 Cebu Holdings, Inc.......................... 6,611,050 891,422 China Banking Corp.......................... 376,706 540,418 DMCI Holdings, Inc.......................... 10 12 * Empire East Land Holdings, Inc.............. 50,520,000 1,109,728 * Export & Industry Bank, Inc. Class A........ 14,950 -- Filinvest Development Corp.................. 142,800 13,992 Filinvest Land, Inc......................... 190,992,031 7,102,322 First Philippine Holdings Corp.............. 4,465,530 7,180,612 * Fwbc Holdings, Inc.......................... 5,471,786 -- * Global-Estate Resorts, Inc.................. 14,553,000 457,021 JG Summit Holdings, Inc..................... 3,807,900 3,848,268 Lopez Holdings Corp......................... 29,502,300 3,296,620 LT Group, Inc............................... 1,066,800 409,885 Macroasia Corp.............................. 957,000 45,000 Megaworld Corp.............................. 210,611,600 18,685,816 Metropolitan Bank & Trust................... 12,137,082 25,024,774 * Mondragon International Philippines, Inc.... 2,464,000 -- 21 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- PHILIPPINES -- (Continued) Petron Corp............................ 161,200 $ 46,259 * Philippine National Bank............... 4,278,628 9,557,758 * Philippine National Construction Corp.. 398,900 45,235 Philippine Savings Bank................ 1,232,313 3,549,509 * Philippine Townships, Inc.............. 226,200 24,866 Philtown Properties, Inc............... 6,701 239 Phinma Corp............................ 2,159,398 674,984 Rizal Commercial Banking Corp.......... 4,744,348 5,160,532 Robinsons Land Corp.................... 29,013,450 15,219,651 San Miguel Corp........................ 6,273,866 11,036,535 San Miguel Pure Foods Co., Inc......... 20,080 112,810 Security Bank Corp..................... 1,114,512 3,587,725 Shang Properties, Inc.................. 614,285 43,460 SM Prime Holdings, Inc................. 25,220,231 11,171,932 Solid Group, Inc....................... 4,330,000 140,479 Top Frontier Investment Holdings, Inc.. 628,532 560,020 Trans-Asia Oil & Energy Development.... 8,974,000 487,995 Union Bank Of Philippines.............. 2,670,714 7,735,938 Universal Robina Corp.................. 9,594,765 28,320,219 Vista Land & Lifescapes, Inc........... 56,759,968 7,246,350 ------------ TOTAL PHILIPPINES.......................... 216,700,475 ------------ POLAND -- (1.6%) * Agora SA............................... 728,442 2,725,598 Asseco Poland SA....................... 1,289,406 21,062,880 * Bank Millennium SA..................... 6,137,636 15,254,602 * Bioton SA.............................. 12,307,361 119,863 * Ciech SA............................... 548,932 5,319,036 ComArch SA............................. 3,061 100,145 Dom Development SA..................... 38,510 600,123 Enea SA................................ 1,652,362 7,775,472 * Farmacol SA............................ 1 23 Firma Oponiarska Debica SA............. 105,389 3,265,696 Getin Holding SA....................... 3,405,226 4,816,341 * Getin Noble Bank SA.................... 4,404,668 3,886,240 Grupa Azoty SA......................... 104,378 2,759,349 Grupa Kety SA.......................... 119,739 7,386,114 * Grupa Lotos SA......................... 1,274,635 15,548,579 * Impexmetal SA.......................... 5,864,978 6,649,223 Jastrzebska Spolka Weglowa SA.......... 124,848 2,695,469 * Kernel Holding SA...................... 30,240 406,783 KGHM Polska Miedz SA................... 25,786 1,041,033 Kopex SA............................... 555,501 1,986,610 * LC Corp. SA............................ 1,822,979 1,100,938 * MCI Management SA...................... 101,489 326,517 #* Netia SA............................... 3,812,784 6,310,462 Orbis SA............................... 541,449 7,425,010 Pelion SA.............................. 8,205 297,891 * Petrolinvest SA........................ 186,480 9,087 PGE SA................................. 13,948,284 81,477,830 * Polimex-Mostostal SA................... 10,112,907 655,058 * Polnord SA............................. 79,658 228,496 22 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- POLAND -- (Continued) * Polski Koncern Miesny Duda SA................ 1,082,006 $ 297,582 # Polski Koncern Naftowy Orlen SA.............. 6,239,721 88,026,919 * Rafako SA.................................... 19,541 41,117 * Rawlplug SA.................................. 110,853 414,047 * Rovese SA.................................... 1,103,489 791,006 * Sygnity SA................................... 194,836 1,338,070 Synthos SA................................... 5,987,703 10,140,759 Tauron Polska Energia SA..................... 15,001,666 24,471,799 * Trakcja SA................................... 371,328 159,270 * Vistula Group SA............................. 108,924 81,964 -------------- TOTAL POLAND..................................... 326,993,001 -------------- RUSSIA -- (4.9%) * AFI Development P.L.C. GDR................... 143,207 93,464 Federal Hydrogenerating Co. JSC ADR.......... 8,385,356 14,151,932 Gazprom OAO Sponsored ADR.................... 106,937,161 999,584,526 Magnitogorsk Iron & Steel Works GDR.......... 1,930,322 6,237,955 #* Mechel Sponsored ADR......................... 257,668 814,231 -------------- TOTAL RUSSIA..................................... 1,020,882,108 -------------- SOUTH AFRICA -- (6.7%) Adcorp Holdings, Ltd......................... 534,472 1,844,147 Aeci, Ltd.................................... 1,153,870 14,063,161 Afgri, Ltd................................... 4,834,179 3,181,656 # African Bank Investments, Ltd................ 7,074,746 11,952,009 African Rainbow Minerals, Ltd................ 1,968,581 37,690,080 Allied Electronics Corp., Ltd................ 563,821 1,372,064 * Anglo American Platinum, Ltd................. 86,273 3,487,603 AngloGold Ashanti, Ltd....................... 846,287 12,791,125 # AngloGold Ashanti, Ltd. Sponsored ADR........ 3,514,714 53,072,181 * ArcelorMittal South Africa, Ltd.............. 2,294,523 9,040,087 Argent Industrial, Ltd....................... 1,254,672 681,634 * Aveng, Ltd................................... 7,285,087 21,391,994 AVI, Ltd..................................... 79,129 464,827 # Barclays Africa Group, Ltd................... 6,124,179 94,589,135 Barloworld, Ltd.............................. 4,169,278 37,349,093 Basil Read Holdings, Ltd..................... 519,529 494,161 Bell Equipment, Ltd.......................... 416,814 998,241 Blue Label Telecoms, Ltd..................... 3,803,262 3,572,737 * Brait SE..................................... 1,689,395 8,235,730 Business Connexion Group, Ltd................ 1,795,161 1,004,299 Caxton and CTP Publishers and Printers, Ltd.. 3,018,326 5,683,758 Clover Industries, Ltd....................... 125,460 205,409 * Consolidated Infrastructure Group, Ltd....... 51,564 115,107 * Corpgro, Ltd................................. 579,166 -- Datacentrix Holdings, Ltd.................... 188,927 88,593 DataTec, Ltd................................. 3,039,568 17,355,799 Delta EMD, Ltd............................... 86,624 53,794 Distell Group, Ltd........................... 325,668 4,359,936 * Distribution and Warehousing Network, Ltd.... 250,120 237,747 DRDGOLD, Ltd................................. 6,207,591 3,066,141 DRDGOLD, Ltd. Sponsored ADR.................. 9,454 46,608 23 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- SOUTH AFRICA -- (Continued) ElementOne, Ltd............................. 391,810 $ 346,487 Eqstra Holdings, Ltd........................ 2,314,760 1,911,936 * Evraz Highveld Steel and Vanadium, Ltd...... 148,283 241,661 # Exxaro Resources, Ltd....................... 162,163 2,483,434 * Gijima Group, Ltd........................... 8,629 784 # Gold Fields, Ltd............................ 1,868,612 8,650,577 # Gold Fields, Ltd. Sponsored ADR............. 11,930,446 54,880,052 Grand Parade Investments, Ltd............... 5,685 2,417 Grindrod, Ltd............................... 7,239,579 17,412,926 Group Five, Ltd............................. 923,554 4,151,348 Harmony Gold Mining Co., Ltd................ 2,952,483 10,187,804 # Harmony Gold Mining Co., Ltd. Sponsored ADR. 3,247,220 11,040,548 Hudaco Industries, Ltd...................... 6,525 67,180 * Hulamin, Ltd................................ 1,506,690 850,140 Iliad Africa, Ltd........................... 179,921 90,876 # Impala Platinum Holdings, Ltd............... 5,114,507 62,124,244 Imperial Holdings, Ltd...................... 76,735 1,630,940 Investec, Ltd............................... 4,755,380 33,704,225 * JCI, Ltd.................................... 10,677,339 -- # JD Group, Ltd............................... 2,283,573 7,010,158 KAP Industrial Holdings, Ltd................ 42,823 16,130 # Lewis Group, Ltd............................ 1,823,725 12,737,917 Liberty Holdings, Ltd....................... 1,371,566 16,957,220 Mediclinic International, Ltd............... 1,067,157 8,042,017 * Merafe Resources, Ltd....................... 21,718,286 1,756,756 Metair Investments, Ltd..................... 913,532 3,547,353 MMI Holdings, Ltd........................... 18,387,140 45,077,604 Mondi, Ltd.................................. 1,730,577 30,932,807 Mpact, Ltd.................................. 2,032,124 5,527,800 * Murray & Roberts Holdings, Ltd.............. 2,554,038 7,775,830 Mustek, Ltd................................. 48,438 25,592 * Mvelaserve, Ltd............................. 1,059,863 972,842 Nampak, Ltd................................. 339,006 1,120,733 # Nedbank Group, Ltd.......................... 3,713,947 80,747,979 * Northam Platinum, Ltd....................... 3,191,341 13,109,373 Omnia Holdings, Ltd......................... 407,582 8,411,146 * Palabora Mining Co., Ltd.................... 212,506 2,450,080 Peregrine Holdings, Ltd..................... 1,506,337 2,064,316 Petmin, Ltd................................. 1,374,464 303,030 PSG Group, Ltd.............................. 596,632 4,905,989 * Randgold & Exploration Co., Ltd............. 155,882 33,147 Raubex Group, Ltd........................... 1,057,077 2,497,581 * RCL Foods, Ltd.............................. 26,214 44,487 * Royal Bafokeng Platinum, Ltd................ 123,145 753,671 Sanlam, Ltd................................. 24,685,296 132,450,694 * Sappi, Ltd.................................. 8,701,945 25,646,283 * Sappi, Ltd. Sponsored ADR................... 695,410 1,961,056 # Sasol, Ltd. Sponsored ADR................... 640,884 32,697,902 * Sentula Mining, Ltd......................... 1,746,095 61,121 Sibanye Gold, Ltd........................... 549,461 775,416 # Sibanye Gold, Ltd. Sponsored ADR............ 2,965,465 16,665,913 Standard Bank Group, Ltd.................... 18,943,972 241,007,060 24 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- SOUTH AFRICA -- (Continued) * Stefanutti Stocks Holdings, Ltd............. 526,548 $ 536,263 #* Steinhoff International Holdings, Ltd....... 24,286,822 93,754,826 * Super Group, Ltd............................ 3,033,558 7,440,601 * Telkom SA SOC, Ltd.......................... 4,197,773 10,952,779 * Times Media Group, Ltd...................... 315,205 677,859 Tongaat Hulett, Ltd......................... 491,322 6,189,276 Trencor, Ltd................................ 1,069,244 7,606,834 Value Group, Ltd............................ 976,777 665,005 #* Village Main Reef, Ltd...................... 659,790 30,241 Zeder Investments, Ltd...................... 2,317,644 999,553 -------------- TOTAL SOUTH AFRICA.............................. 1,395,206,675 -------------- SOUTH KOREA -- (14.6%) Aekyung Petrochemical Co., Ltd.............. 18,796 1,054,819 # AK Holdings, Inc............................ 34,127 1,291,356 AMOREPACIFIC Group.......................... 10,461 3,691,515 Asia Cement Co., Ltd........................ 36,191 3,309,476 Asia Paper Manufacturing Co., Ltd........... 37,150 750,705 #* AUK Corp.................................... 633,480 1,465,040 Bookook Securities Co., Ltd................. 28,655 381,524 Boryung Pharmaceutical Co., Ltd............. 39,096 1,395,747 BS Financial Group, Inc..................... 1,606,361 25,789,790 Busan City Gas Co., Ltd..................... 81,980 2,239,845 BYC Co., Ltd................................ 810 144,190 # Byucksan Corp............................... 156,140 381,050 # Capro Corp.................................. 79,730 583,213 #* Celltrion Pharm, Inc........................ 7,951 92,489 * China Great Star International, Ltd......... 425,611 742,825 #* China Ocean Resources Co., Ltd.............. 808,940 3,295,137 Chosun Refractories Co., Ltd................ 9,371 694,907 CJ Corp..................................... 199,265 20,841,020 * CJ E&M Corp................................. 120,198 4,155,852 #* CJ Korea Express Co., Ltd................... 99,247 8,627,215 CKD Bio Corp................................ 20,570 314,880 #* Cosmochemical Co., Ltd...................... 140,210 1,274,784 # Dae Dong Industrial Co., Ltd................ 145,130 834,259 # Dae Han Flour Mills Co., Ltd................ 14,607 1,967,582 Dae Won Kang Up Co., Ltd.................... 245,096 1,734,026 #* Dae Young Packaging Co., Ltd................ 1,121,470 900,915 # Dae-Il Corp................................. 66,990 307,331 Daechang Co., Ltd........................... 866,590 864,015 Daeduck GDS Co., Ltd........................ 281,480 5,171,549 # Daegu Department Store...................... 122,031 1,887,060 # Daehan Steel Co., Ltd....................... 183,220 1,137,138 Daekyo Co., Ltd............................. 521,770 3,299,732 # Daelim Industrial Co., Ltd.................. 453,905 42,132,905 Daelim Trading Co., Ltd..................... 13,834 52,481 # Daesang Holdings Co., Ltd................... 142,836 1,007,302 # Daesung Holdings Co., Ltd................... 41,070 333,457 Daewon San Up Co., Ltd...................... 17,666 142,229 #* Daewoo Engineering & Construction Co., Ltd.. 1,174,710 9,518,133 Daewoo Securities Co., Ltd.................. 2,825,042 26,366,648 25 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- SOUTH KOREA -- (Continued) # Daewoo Shipbuilding & Marine Engineering Co., Ltd.. 789,352 $24,856,260 Daewoong Co., Ltd.................................. 5,078 178,545 * Dahaam E-Tec Co., Ltd.............................. 3,535 59,986 Daishin Securities Co., Ltd........................ 638,515 5,328,049 # Daou Data Corp..................................... 138,807 574,068 # Daou Technology, Inc............................... 321,778 4,409,737 #* Dasan Networks, Inc................................ 145,116 868,276 DGB Financial Group, Inc........................... 1,293,172 20,748,513 #* Digitech Systems Co., Ltd.......................... 10,779 62,343 # Dong Ah Tire & Rubber Co., Ltd..................... 81,994 1,367,661 #* Dong Yang Gang Chul Co., Ltd....................... 291,430 580,864 # Dong-Ah Geological Engineering Co., Ltd............ 45,500 375,074 Dong-Il Corp....................................... 19,098 924,469 Dongbang Agro Co................................... 17,110 103,319 # Dongbang Transport Logistics Co., Ltd.............. 244,640 592,120 Dongbu CNI Co., Ltd................................ 16,040 62,771 #* Dongbu Corp........................................ 53,090 166,893 #* Dongbu HiTek Co., Ltd.............................. 368,964 2,101,156 Dongbu Securities Co., Ltd......................... 351,526 1,168,455 * Dongbu Steel Co., Ltd.............................. 385,814 911,380 # Dongil Industries Co., Ltd......................... 18,961 941,553 * Dongkook Industrial Co., Ltd....................... 248,640 680,966 # Dongkuk Steel Mill Co., Ltd........................ 719,049 10,049,355 DONGKUK STRUCTURES & CONSTRUCTION Co., Ltd......... 114,484 444,922 Dongsung Holdings Co., Ltd......................... 195,870 961,594 # Dongwha Pharm Co., Ltd............................. 261,900 1,373,477 # Dongwon F&B Co., Ltd............................... 18,686 1,910,171 * Dongwon Systems Corp............................... 3,175 20,965 Dongyang Mechatronics Corp......................... 11,660 132,788 # Doosan Corp........................................ 109,796 14,708,880 #* Doosan Engine Co., Ltd............................. 112,890 1,003,642 #* Doosan Engineering & Construction Co., Ltd......... 364,280 796,142 Doosan Heavy Industries & Construction Co., Ltd.... 125,000 5,101,681 #* Doosan Infracore Co., Ltd.......................... 354,010 5,067,028 DRB Holding Co., Ltd............................... 124,305 910,015 DRB Industrial Co., Ltd............................ 117,204 974,341 E-Mart Co., Ltd.................................... 37,775 9,039,412 #* Eagon Industries Co., Ltd.......................... 13,300 161,629 Easy Bio, Inc...................................... 23,186 101,410 Eugene Corp........................................ 199,842 544,703 * Eugene Investment & Securities Co., Ltd............ 763,229 1,575,931 Fursys, Inc........................................ 31,503 928,073 # Gaon Cable Co., Ltd................................ 18,587 342,555 Global & Yuasa Battery Co., Ltd.................... 34,827 1,634,069 * GNCO Co., Ltd...................................... 56,982 85,848 Green Cross Holdings Corp.......................... 50,710 631,789 GS Engineering & Construction Corp................. 515,821 17,415,440 GS Global Corp..................................... 3,370 30,720 GS Holdings........................................ 750,939 41,352,074 Gwangju Shinsegae Co., Ltd......................... 5,985 1,480,460 # Halla Corp......................................... 247,941 1,244,521 Han Kuk Carbon Co., Ltd............................ 49,800 418,043 26 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- SOUTH KOREA -- (Continued) Hana Financial Group, Inc................................. 4,078,729 $156,836,439 # Handok, Inc............................................... 34,880 569,178 Handsome Co., Ltd......................................... 214,790 6,149,602 Hanil Cement Co., Ltd..................................... 52,145 4,100,734 Hanil E-Wha Co., Ltd...................................... 37,380 772,479 #* Hanjin Heavy Industries & Construction Co., Ltd........... 677,791 7,856,983 Hanjin Heavy Industries & Construction Holdings Co., Ltd.. 181,040 1,561,065 * Hanjin Kal Corp........................................... 12,388 164,084 #* Hanjin Shipping Co., Ltd.................................. 1,206,540 8,790,746 * Hanjin Shipping Holdings Co., Ltd......................... 164,924 828,032 # Hanjin Transportation Co., Ltd............................ 140,220 2,423,911 * Hankuk Glass Industries, Inc.............................. 28,180 434,247 # Hankuk Paper Manufacturing Co., Ltd....................... 32,780 732,057 #* Hanmi Science Co., Ltd.................................... 13,270 199,751 Hanmi Semiconductor Co., Ltd.............................. 65,150 770,593 #* Hansol HomeDeco Co., Ltd.................................. 321,490 526,669 Hansol Paper Co........................................... 647,244 7,498,153 # Hanwha Chemical Corp...................................... 1,436,095 31,520,164 Hanwha Corp............................................... 594,563 22,504,575 * Hanwha General Insurance Co., Ltd......................... 111,213 439,929 * Hanwha Investment & Securities Co., Ltd................... 918,791 3,107,661 Hanwha Life Insurance Co., Ltd............................ 1,498,105 10,017,335 Hanwha Timeworld Co., Ltd................................. 12,290 377,521 Hanyang Securities Co., Ltd............................... 90,530 530,771 # Heung-A Shipping Co., Ltd................................. 632,727 948,036 # Hitejinro Holdings Co., Ltd............................... 99,611 1,084,266 HMC Investment Securities Co., Ltd........................ 259,785 2,609,148 # HS R&A Co., Ltd........................................... 37,336 655,961 Humax Co., Ltd............................................ 42,979 508,448 # Husteel Co., Ltd.......................................... 59,490 1,087,025 Hwacheon Machine Tool Co., Ltd............................ 14,227 691,621 Hyosung Corp.............................................. 380,987 25,684,458 #* Hyundai BNG Steel Co., Ltd................................ 145,750 1,905,422 # Hyundai Development Co.................................... 904,704 20,110,029 # Hyundai Heavy Industries Co., Ltd......................... 232,115 55,428,393 Hyundai Hy Communications & Networks Co., Ltd............. 207,730 931,520 # Hyundai Mipo Dockyard..................................... 80,748 12,851,903 Hyundai Motor Co.......................................... 310,959 74,084,064 Hyundai Securities Co., Ltd............................... 1,779,448 11,300,350 # Hyundai Steel Co.......................................... 1,197,245 98,578,876 # Hyunjin Materials Co., Ltd................................ 64,806 427,939 # Il Dong Pharmaceutical Co., Ltd........................... 133,130 1,483,719 # Iljin Electric Co., Ltd................................... 285,940 1,653,425 # Ilshin Spinning Co., Ltd.................................. 16,366 1,705,598 # Ilsung Pharmaceuticals Co., Ltd........................... 9,407 692,180 Industrial Bank of Korea.................................. 2,572,180 29,712,965 Intergis Co., Ltd......................................... 24,590 164,910 # INTOPS Co., Ltd........................................... 62,298 1,326,310 Inzi Controls Co., Ltd.................................... 89,540 445,821 # INZI Display Co., Ltd..................................... 337,768 609,175 #* IS Dongseo Co., Ltd....................................... 121,855 1,888,390 # ISU Chemical Co., Ltd..................................... 164,530 2,559,428 27 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- SOUTH KOREA -- (Continued) * JB Financial Group Co., Ltd................. 707,883 $ 4,838,132 # Jeil Pharmaceutical Co...................... 73,180 889,354 JW Pharmaceutical Corp...................... 102,840 1,490,587 KB Financial Group, Inc..................... 2,902,753 114,320,481 KB Financial Group, Inc. ADR................ 3,182,416 123,509,565 # KC Tech Co., Ltd............................ 332,012 1,521,242 KCC Corp.................................... 64,340 25,801,791 #* Keangnam Enterprises, Ltd................... 131,000 419,378 * KEC Corp.................................... 124,522 116,986 # Keyang Electric Machinery Co., Ltd.......... 393,920 1,213,005 # KG Chemical Corp............................ 47,243 779,572 KISCO Corp.................................. 56,021 1,500,492 # KISCO Holdings Co., Ltd..................... 11,673 455,672 # Kishin Corp................................. 109,475 825,992 KISWIRE, Ltd................................ 69,836 2,433,542 Kolon Corp.................................. 85,335 1,598,537 * Kolon Global Corp........................... 308,890 1,125,280 # Kolon Industries, Inc....................... 178,594 9,973,208 Korea Airport Service Co., Ltd.............. 16,100 329,133 # Korea Cast Iron Pipe Industries Co., Ltd.... 7,358 26,640 Korea Electric Terminal Co., Ltd............ 89,230 3,612,511 # Korea Export Packaging Industrial Co., Ltd.. 5,290 122,680 #* Korea Flange Co., Ltd....................... 58,810 749,424 Korea Investment Holdings Co., Ltd.......... 542,836 21,177,935 * Korea Petrochemical Ind Co., Ltd............ 45,171 3,163,125 * Korean Air Lines Co., Ltd................... 25,635 817,643 Korean Reinsurance Co....................... 114,130 1,279,127 # KPF......................................... 36,644 241,307 # KPX Chemical Co., Ltd....................... 12,852 840,278 * KTB Investment & Securities Co., Ltd........ 1,066,210 2,392,124 Kukdo Chemical Co., Ltd..................... 51,898 2,472,442 # Kumho Electric Co., Ltd..................... 52,624 1,300,132 # Kunsul Chemical Industrial Co., Ltd......... 26,860 730,652 Kwang Dong Pharmaceutical Co., Ltd.......... 139,830 960,342 #* Kyeryong Construction Industrial Co., Ltd... 42,770 353,195 Kyobo Securities Co......................... 272,242 1,170,835 # Kyung Dong Navien Co., Ltd.................. 25,220 431,706 # Kyung-In Synthetic Corp..................... 184,400 747,898 #* Kyungbang, Ltd.............................. 9,187 998,304 LG Corp..................................... 1,083,610 64,060,394 #* LG Display Co., Ltd......................... 1,309,420 30,649,369 #* LG Display Co., Ltd. ADR.................... 3,996,524 46,759,331 # LG Electronics, Inc......................... 1,776,548 113,798,502 LG Hausys, Ltd.............................. 55,732 6,745,668 LG International Corp....................... 60,310 1,692,360 * LG Uplus Corp............................... 3,029,481 34,687,841 LIG Insurance Co., Ltd...................... 88,290 2,197,482 # Livart Furniture Co., Ltd................... 29,460 292,667 # Lotte Chemical Corp......................... 52,363 10,729,150 Lotte Chilsung Beverage Co., Ltd............ 9,880 14,673,940 Lotte Confectionery Co., Ltd................ 9,339 16,014,776 Lotte Food Co., Ltd......................... 525 323,996 28 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- SOUTH KOREA -- (Continued) * Lotte Non-Life Insurance Co., Ltd.... 23,240 $ 65,824 Lotte Shopping Co., Ltd.............. 166,351 63,151,656 Meritz Finance Group, Inc............ 16,600 85,538 Meritz Securities Co., Ltd........... 2,576,974 4,085,062 Mi Chang Oil Industrial Co., Ltd..... 4,691 347,142 Mirae Asset Securities Co., Ltd...... 414,359 13,974,649 # MK Electron Co., Ltd................. 99,673 442,627 # Moorim P&P Co., Ltd.................. 422,608 2,483,313 #* Moorim Paper Co., Ltd................ 205,480 463,986 Motonic Corp......................... 121,010 1,087,193 # Namhae Chemical Corp................. 23,510 160,593 Namyang Dairy Products Co., Ltd...... 4,383 3,575,276 National Plastic Co.................. 146,060 721,941 #* NEOWIZ HOLDINGS Corp................. 69,796 736,439 # Nexen Corp........................... 13,326 939,261 NH Investment & Securities Co., Ltd.. 406,621 1,842,284 NICE Holdings Co., Ltd............... 7,100 86,756 # NK Co., Ltd.......................... 196,310 684,700 # Nong Shim Holdings Co., Ltd.......... 24,347 1,748,413 NongShim Co., Ltd.................... 40,829 9,887,002 # OCI Materials Co., Ltd............... 5,913 185,091 #* Osung LST Co., Ltd................... 184,874 464,337 Ottogi Corp.......................... 8,693 2,807,830 # Paik Kwang Industrial Co., Ltd....... 100,134 354,709 #* PaperCorea, Inc...................... 404,380 305,205 # Poongsan Corp........................ 422,600 11,747,645 Poongsan Holdings Corp............... 49,788 1,319,379 POSCO................................ 681,110 203,339,180 # POSCO ADR............................ 1,626,923 121,140,686 * POSCO Coated & Color Steel Co., Ltd.. 23,830 314,703 * PSK, Inc............................. 84,155 800,855 Pulmuone Holdings Co., Ltd........... 7,118 351,870 # Pyeong Hwa Automotive Co., Ltd....... 6,626 153,510 # S&T Dynamics Co., Ltd................ 380,544 5,092,283 S&T Holdings Co., Ltd................ 87,883 1,638,452 # S&T Motiv Co., Ltd................... 128,920 3,641,061 Saeron Automotive Corp............... 1,995 15,244 #* Sajo Industries Co., Ltd............. 11,546 321,136 * Sajodaerim Corp...................... 170 1,578 Sam Young Electronics Co., Ltd....... 159,570 1,420,424 Sam Yung Trading Co., Ltd............ 28,584 455,966 # SAMHWA Paints Industrial Co., Ltd.... 2,030 17,662 #* Samick Musical Instruments Co., Ltd.. 1,125,740 1,929,793 Samlip General Foods Co., Ltd........ 6,320 296,078 Samsung C&T Corp..................... 1,386,322 82,261,509 Samsung Life Insurance Co., Ltd...... 895 88,126 # Samsung SDI Co., Ltd................. 520,138 86,702,427 * Samwhan Corp......................... 1 3 # Samyang Genex Co., Ltd............... 11,337 919,860 Samyang Holdings Corp................ 89,042 7,438,962 Samyang Tongsang Co., Ltd............ 8,060 196,199 # Samyoung Chemical Co., Ltd........... 220,260 508,479 29 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- SOUTH KOREA -- (Continued) SAVEZONE I&C Corp............................... 27,710 $ 122,376 Seah Besteel Corp............................... 168,664 4,408,893 SeAH Holdings Corp.............................. 13,089 1,213,329 # SeAH Steel Corp................................. 36,098 3,069,088 Sebang Co., Ltd................................. 137,830 2,480,928 # Sejong Industrial Co., Ltd...................... 102,930 1,613,368 # Sempio Foods Co................................. 3,110 62,693 * Seohee Construction Co., Ltd.................... 1,753,286 1,104,543 * Seong An Co., Ltd............................... 86,190 57,709 Seowon Co., Ltd................................. 100,110 175,245 * Sewon Cellontech Co., Ltd....................... 12,330 34,226 #* SG Corp......................................... 1,945,560 1,276,257 Shin Poong Pharmaceutical Co., Ltd.............. 120,505 578,215 Shinhan Financial Group Co., Ltd................ 5,415,719 236,144,882 # Shinhan Financial Group Co., Ltd. ADR........... 1,630,308 70,657,548 Shinsegae Co., Ltd.............................. 41,475 10,441,482 # Shinsegae Information & Communication Co., Ltd.. 5,726 375,652 #* Shinsung Solar Energy Co., Ltd.................. 765,627 857,801 #* Shinsung Tongsang Co., Ltd...................... 1,106,860 1,145,895 Shinyoung Securities Co., Ltd................... 35,820 1,416,221 # Silla Co., Ltd.................................. 64,953 1,790,323 Sindoh Co., Ltd................................. 43,098 2,841,585 SJM Co., Ltd.................................... 17,794 174,460 SK Chemicals Co., Ltd........................... 113,742 5,560,520 SK Gas Co., Ltd................................. 47,214 3,332,110 SK Holdings Co., Ltd............................ 530,249 96,102,228 SK Innovation Co., Ltd.......................... 845,193 118,461,430 # SK Networks Co., Ltd............................ 2,219,296 13,932,180 * SK Securities Co., Ltd.......................... 3,931,860 2,976,832 # SKC Co., Ltd.................................... 42,000 1,274,768 # SL Corp......................................... 140,660 1,959,009 # Songwon Industrial Co., Ltd..................... 121,460 1,309,140 * Ssangyong Cement Industrial Co., Ltd............ 289,296 1,612,144 STX Corp. Co., Ltd.............................. 417,563 700,987 * STX Engine Co., Ltd............................. 340,110 1,680,194 * STX Offshore & Shipbuilding Co., Ltd............ 850,640 2,485,962 #* STX Pan Ocean Co., Ltd.......................... 956,910 1,014,354 Suheung Capsule Co., Ltd........................ 31,370 1,118,655 Sun Kwang Co., Ltd.............................. 20,098 338,769 #* Sungchang Enterprise Holdings, Ltd.............. 16,000 267,149 #* Sungshin Cement Co., Ltd........................ 78,030 411,863 Sungwoo Hitech Co., Ltd......................... 66,157 1,023,415 # Tae Kyung Industrial Co., Ltd................... 116,020 513,110 Taekwang Industrial Co., Ltd.................... 4,300 5,313,715 #* Taewoong Co., Ltd............................... 70,311 2,096,176 Taeyoung Engineering & Construction Co., Ltd.... 564,040 3,042,831 # Tailim Packaging Industrial Co., Ltd............ 374,220 917,343 TCC Steel....................................... 48,310 165,959 #* TK Chemical Corp................................ 329,048 518,529 * Tong Kook Corp.................................. 607 -- # Tong Yang Moolsan Co., Ltd...................... 72,180 637,023 Tongyang Life Insurance......................... 79,490 843,359 30 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- SOUTH KOREA -- (Continued) TONGYANG Securities, Inc................... 918,859 $ 2,091,364 * Top Engineering Co., Ltd................... 49,113 217,928 # TS Corp.................................... 65,206 1,719,721 # Unid Co., Ltd.............................. 46,751 2,932,364 Union Steel................................ 38,477 560,728 #* WillBes & Co. (The)........................ 538,070 546,915 Wiscom Co., Ltd............................ 32,980 152,891 #* Woongjin Energy Co., Ltd................... 751,750 1,522,285 * Woongjin Thinkbig Co., Ltd................. 156,120 891,585 Wooree ETI Co., Ltd........................ 87,561 252,908 Woori Finance Holdings Co., Ltd............ 5,158,647 61,115,805 # Woori Finance Holdings Co., Ltd. ADR....... 8,505 298,015 Woori Financial Co., Ltd................... 93,191 1,946,181 Woori Investment & Securities Co., Ltd..... 2,467,643 26,061,288 # WooSung Feed Co., Ltd...................... 284,940 748,571 YESCO Co., Ltd............................. 30,550 1,008,164 # Yoosung Enterprise Co., Ltd................ 76,905 367,026 # YooSung T&S Co., Ltd....................... 27,033 54,806 Youlchon Chemical Co., Ltd................. 159,540 1,871,797 Young Poong Corp........................... 4,632 6,161,321 * Young Poong Mining & Construction Corp..... 18,030 -- # Young Poong Precision Corp................. 48,300 454,405 Youngone Holdings Co., Ltd................. 29,112 1,772,991 YuHwa Securities Co., Ltd.................. 28,680 319,854 * Zinus, Inc................................. 1,866 -- -------------- TOTAL SOUTH KOREA.............................. 3,034,397,344 -------------- TAIWAN -- (13.9%) Ability Enterprise Co., Ltd................ 2,238,000 1,687,592 AcBel Polytech, Inc........................ 4,916,219 4,975,525 Accton Technology Corp..................... 8,825,156 4,821,350 #* Acer, Inc.................................. 47,368,364 30,948,628 ACES Electronic Co., Ltd................... 489,000 362,950 # ACHEM TECHNOLOGY Corp...................... 3,011,984 1,732,289 * Action Electronics Co., Ltd................ 3,511,084 741,628 * Advanced Connectek, Inc.................... 381,000 133,985 Advanced International Multitech Co., Ltd.. 127,000 138,046 * Advanced Power Electronics Corp............ 515,000 287,947 * AGV Products Corp.......................... 7,871,701 2,572,788 AimCore Technology Co., Ltd................ 396,797 584,751 Alcor Micro Corp........................... 313,000 297,420 Allis Electric Co., Ltd.................... 1,471,000 501,043 # Alpha Networks, Inc........................ 5,872,237 3,815,076 # Altek Corp................................. 6,185,808 4,703,061 # Ambassador Hotel (The)..................... 828,000 824,334 AMPOC Far-East Co., Ltd.................... 1,772,000 1,508,028 AmTRAN Technology Co., Ltd................. 11,031,956 7,064,404 Anpec Electronics Corp..................... 147,000 101,614 # APCB, Inc.................................. 2,584,000 1,608,410 Apex Science & Engineering................. 548,248 311,183 Arcadyan Technology Corp................... 848,000 1,175,468 Ardentec Corp.............................. 1,123,280 751,876 31 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- TAIWAN -- (Continued) * Arima Communications Corp................... 251,566 $ 127,729 # Asia Cement Corp............................ 25,637,049 34,776,323 * Asia Optical Co., Inc....................... 4,243,290 4,215,001 # Asia Polymer Corp........................... 4,053,478 3,551,993 Asia Vital Components Co., Ltd.............. 4,863,984 2,818,517 Asustek Computer, Inc....................... 308,000 2,350,685 #* AU Optronics Corp........................... 52,352,812 17,124,178 #* AU Optronics Corp. Sponsored ADR............ 9,342,184 29,521,301 # Audix Corp.................................. 1,800,164 1,909,555 Avermedia Technologies...................... 3,018,000 1,472,328 * Avision, Inc................................ 2,782,555 1,084,616 AVY Precision Technology, Inc............... 166,000 282,714 Bank of Kaohsiung........................... 6,588,900 2,128,856 Basso Industry Corp......................... 819,000 950,319 # BES Engineering Corp........................ 24,933,443 7,633,147 Biostar Microtech International Corp........ 2,799,055 1,022,499 * Bright Led Electronics Corp................. 1,595,000 695,978 # C Sun Manufacturing, Ltd.................... 2,535,837 1,798,207 # Cameo Communications, Inc................... 3,060,197 1,005,819 Capital Securities Corp..................... 24,281,447 8,317,336 Career Technology MFG. Co., Ltd............. 1,535,000 1,461,968 Carnival Industrial Corp.................... 6,172,000 1,858,343 Cathay Chemical Works....................... 959,000 571,656 Cathay Real Estate Development Co., Ltd..... 14,314,421 9,981,866 Celxpert Energy Corp........................ 262,000 140,063 Central Reinsurance Co., Ltd................ 2,562,016 1,156,648 ChainQui Construction Development Co., Ltd.. 1,547,173 1,129,609 * Champion Building Materials Co., Ltd........ 6,279,828 2,818,062 * Chang Ho Fibre Corp......................... 78,000 28,384 Chang Hwa Commercial Bank................... 87,425,711 52,443,179 Channel Well Technology Co., Ltd............ 284,000 135,560 Charoen Pokphand Enterprise................. 3,296,000 1,729,381 Chen Full International Co., Ltd............ 550,000 493,791 Cheng Loong Corp............................ 13,705,659 6,482,080 Cheng Uei Precision Industry Co., Ltd....... 4,391,635 9,209,820 Chia Chang Co., Ltd......................... 860,000 1,117,780 * Chia Hsin Cement Corp....................... 7,583,191 3,870,575 # Chien Kuo Construction Co., Ltd............. 4,979,247 2,394,381 * Chien Shing Stainless Steel................. 1,034,000 138,455 Chilisin Electronics Corp................... 1,683,836 1,618,570 Chin-Poon Industrial Co..................... 6,084,815 10,155,204 * China Airlines, Ltd......................... 44,441,353 16,098,593 China Chemical & Pharmaceutical Co., Ltd.... 4,203,264 3,592,764 China Development Financial Holding Corp.... 202,041,960 60,389,073 China Electric Manufacturing Corp........... 3,862,200 1,838,948 China General Plastics Corp................. 7,124,260 4,406,420 # China Glaze Co., Ltd........................ 2,312,363 1,116,252 China Life Insurance Co., Ltd............... 9,321,780 9,148,200 * China Manmade Fibers Corp................... 21,204,813 9,007,219 China Metal Products........................ 3,560,362 5,274,073 # China Motor Corp............................ 11,464,749 10,955,965 # China Petrochemical Development Corp........ 33,049,397 16,620,631 32 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- TAIWAN -- (Continued) * China Rebar Co., Ltd................................ 439,188 $ -- China Steel Structure Co., Ltd...................... 1,435,219 1,785,925 # China Synthetic Rubber Corp......................... 8,022,711 7,779,581 * China United Trust & Investment Corp................ 493,999 -- * China Wire & Cable Co., Ltd......................... 2,900,000 1,357,829 Chinese Maritime Transport, Ltd..................... 1,496,000 1,925,378 * Chun YU Works & Co., Ltd............................ 2,927,000 1,112,594 Chun Yuan Steel..................................... 6,454,287 2,472,188 Chung Hsin Electric & Machinery Manufacturing Corp.. 6,609,000 5,148,858 * Chung Hung Steel Corp............................... 12,373,046 3,543,191 * Chung Hwa Pulp Corp................................. 6,750,011 2,173,784 * Chung Shing Textile Co., Ltd........................ 600 -- * Chunghwa Picture Tubes, Ltd......................... 55,899,412 3,066,013 * Chyang Sheng Dyeing & Finishing Co., Ltd............ 328,000 177,297 #* CMC Magnetics Corp.................................. 50,000,830 8,426,822 CoAsia Microelectronics Corp........................ 1,437,350 785,014 Collins Co., Ltd.................................... 2,467,224 917,607 # Compal Electronics, Inc............................. 69,912,332 54,703,078 Compeq Manufacturing Co............................. 21,479,000 10,851,261 * Compex International Co., Ltd....................... 46,400 -- * Concord Securities Corp............................. 1,749,000 458,203 Continental Holdings Corp........................... 7,293,848 2,657,101 Coretronic Corp..................................... 7,759,000 6,786,306 * Cosmos Bank Taiwan.................................. 948,872 473,348 # Coxon Precise Industrial Co., Ltd................... 2,217,000 3,903,300 Creative Sensor, Inc................................ 301,000 181,207 * Crystalwise Technology, Inc......................... 127,000 98,301 CSBC Corp. Taiwan................................... 5,889,654 3,756,902 CTBC Financial Holding Co., Ltd..................... 86,725,355 58,828,637 CviLux Corp......................................... 22,000 26,376 D-Link Corp......................................... 11,107,939 6,721,979 # DA CIN Construction Co., Ltd........................ 2,614,579 2,318,921 * Danen Technology Corp............................... 22,000 11,217 Darfon Electronics Corp............................. 6,405,950 4,858,763 Delpha Construction Co., Ltd........................ 3,970,016 1,614,556 Depo Auto Parts Ind Co., Ltd........................ 236,000 828,392 * Der Pao Construction Co., Ltd....................... 1,139,000 -- DFI, Inc............................................ 387,280 425,971 * Dynamic Electronics Co., Ltd........................ 4,194,324 1,644,282 #* E Ink Holdings, Inc................................. 9,534,000 5,352,435 #* E-Ton Solar Tech Co., Ltd........................... 4,038,443 2,484,423 E.Sun Financial Holding Co., Ltd.................... 73,360,913 49,129,938 * Eastern Media International Corp.................... 12,884,399 2,126,971 Edimax Technology Co., Ltd.......................... 3,202,902 1,427,422 # Edison Opto Corp.................................... 729,000 862,720 Edom Technology Co., Ltd............................ 943,800 456,129 Elite Material Co., Ltd............................. 2,905,905 2,407,204 Elite Semiconductor Memory Technology, Inc.......... 1,776,000 2,335,331 Elitegroup Computer Systems Co., Ltd................ 13,565,066 5,828,278 ENG Electric Co., Ltd............................... 516,000 430,947 Entie Commercial Bank............................... 2,271,232 1,170,211 * Entire Technology Co., Ltd.......................... 20,000 21,460 33 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- TAIWAN -- (Continued) * Episil Technologies, Inc.......................... 2,910,000 $ 1,009,208 # Epistar Corp...................................... 14,736,000 25,553,577 Eternal Chemical Co., Ltd......................... 1,630,000 1,490,084 * Etron Technology, Inc............................. 2,231,000 1,082,041 * Eva Airways Corp.................................. 9,947,850 5,537,577 * Ever Fortune Industrial Co., Ltd.................. 409,000 -- * Everest Textile Co., Ltd.......................... 3,892,002 1,140,872 Evergreen International Storage & Transport Corp.. 9,380,000 6,372,129 * Evergreen Marine Corp. Taiwan, Ltd................ 32,195,998 18,942,027 Everlight Chemical Industrial Corp................ 1,994,005 1,844,344 # Everlight Electronics Co., Ltd.................... 2,417,000 4,566,746 * Everspring Industry Co............................ 686,180 406,946 # Excelsior Medical Co., Ltd........................ 1,410,200 3,112,180 # Far Eastern Department Stores Co., Ltd............ 4,919,652 5,291,653 # Far Eastern International Bank.................... 27,026,817 11,216,604 #* Farglory F T Z Investment Holding Co., Ltd........ 544,000 417,294 Farglory Land Development Co., Ltd................ 457,000 839,439 Federal Corp...................................... 6,978,685 5,503,074 * First Copper Technology Co., Ltd.................. 3,667,750 1,191,288 First Financial Holding Co., Ltd.................. 126,315,215 78,177,705 First Hotel....................................... 1,187,590 764,689 # First Insurance Co., Ltd.......................... 3,960,064 2,624,401 First Steamship Co., Ltd.......................... 5,393,173 3,722,770 Forhouse Corp..................................... 7,911,635 3,025,131 # Formosa Advanced Technologies Co., Ltd............ 1,264,000 780,573 #* Formosa Epitaxy, Inc.............................. 8,578,000 5,218,841 Formosa Oilseed Processing........................ 1,111,977 537,640 Formosa Taffeta Co., Ltd.......................... 10,729,511 13,335,659 Formosan Rubber Group, Inc........................ 8,118,000 7,702,794 Formosan Union Chemical........................... 2,827,034 1,356,169 # Fortune Electric Co., Ltd......................... 436,000 272,207 # Founding Construction & Development Co., Ltd...... 3,092,474 2,033,838 Foxlink Image Technology Co., Ltd................. 541,000 340,678 * Froch Enterprise Co., Ltd......................... 1,898,000 619,843 FSP Technology, Inc............................... 1,830,283 1,690,073 Fubon Financial Holding Co., Ltd.................. 88,739,471 130,052,844 Fullerton Technology Co., Ltd..................... 1,753,200 1,443,124 #* Fulltech Fiber Glass Corp......................... 4,505,690 1,824,117 Fwusow Industry Co., Ltd.......................... 2,782,995 1,711,402 # G Shank Enterprise Co., Ltd....................... 2,830,880 1,752,732 * Gallant Precision Machining Co., Ltd.............. 1,123,000 481,093 # Gemtek Technology Corp............................ 6,437,962 6,248,868 #* Genesis Photonics, Inc............................ 2,140,000 1,259,476 # Getac Technology Corp............................. 11,072,065 6,096,533 #* Giantplus Technology Co., Ltd..................... 1,289,100 389,348 Giga Solution Tech Co., Ltd....................... 548,000 295,354 Gigabyte Technology Co., Ltd...................... 9,308,287 10,392,479 #* Gigastorage Corp.................................. 5,891,600 4,751,691 #* Gintech Energy Corp............................... 6,960,942 7,485,630 * Global Brands Manufacture, Ltd.................... 5,041,951 1,799,497 # Global Lighting Technologies, Inc................. 552,000 560,329 * Globe Union Industrial Corp....................... 2,671,000 2,030,525 34 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- TAIWAN -- (Continued) # Gloria Material Technology Corp................. 4,263,150 $ 2,917,015 #* Gold Circuit Electronics, Ltd................... 9,631,965 2,516,110 Goldsun Development & Construction Co., Ltd..... 23,049,261 9,529,237 Good Will Instrument Co., Ltd................... 466,380 286,831 Grand Pacific Petrochemical..................... 17,166,000 13,249,262 Great China Metal Industry...................... 871,000 1,034,348 Great Wall Enterprise Co., Ltd.................. 3,780,767 3,407,512 #* Green Energy Technology, Inc.................... 4,571,880 4,046,853 #* GTM Corp........................................ 2,449,000 1,323,369 # Hannstar Board Corp............................. 5,444,635 2,212,383 #* HannStar Display Corp........................... 49,769,000 16,664,100 * Harvatek Corp................................... 3,454,459 1,423,208 * Helix Technology, Inc........................... 29,585 -- Hey Song Corp................................... 4,034,000 4,627,233 Hiroca Holdings, Ltd............................ 13,500 38,170 #* HiTi Digital, Inc............................... 315,175 292,663 Hitron Technology, Inc.......................... 3,410,525 1,829,673 Ho Tung Chemical Corp........................... 12,602,052 6,152,893 #* Hocheng Corp.................................... 4,459,300 1,716,369 Hold-Key Electric Wire & Cable Co., Ltd......... 515,124 184,242 Holy Stone Enterprise Co., Ltd.................. 2,678,650 3,379,952 # Hong TAI Electric Industrial.................... 3,862,000 1,314,678 Horizon Securities Co., Ltd..................... 5,065,000 1,532,803 Hsin Kuang Steel Co., Ltd....................... 4,316,124 2,750,917 Hsing TA Cement Co.............................. 2,071,980 782,012 HUA ENG Wire & Cable............................ 7,600,035 3,014,210 Hua Nan Financial Holdings Co., Ltd............. 48,985,430 29,043,140 * Hua Yu Lien Development Co., Ltd................ 2,799 5,060 * Hualon Corp..................................... 257,040 -- Hung Ching Development & Construction Co., Ltd.. 1,937,468 1,246,410 Hung Poo Real Estate Development Corp........... 3,576,655 3,715,452 # Hung Sheng Construction Co., Ltd................ 8,769,892 7,492,355 Huxen Corp...................................... 572,281 904,346 * Hwa Fong Rubber Co., Ltd........................ 3,194,960 1,449,551 # I-Chiun Precision Industry Co., Ltd............. 3,790,000 2,463,121 # Ichia Technologies, Inc......................... 7,023,260 3,689,739 Infortrend Technology, Inc...................... 880,000 528,524 #* Innolux Corp.................................... 122,419,745 48,549,926 * Inotera Memories, Inc........................... 32,779,728 21,137,232 * Inpaq Technology Co., Ltd....................... 327,000 310,923 Integrated Memory Logic, Ltd.................... 73,000 167,046 Inventec Corp................................... 34,993,277 31,321,059 ITE Technology, Inc............................. 2,498,479 2,118,809 #* J Touch Corp.................................... 832,000 631,660 * Janfusun Fancyworld Corp........................ 600,179 117,425 Jentech Precision Industrial Co., Ltd........... 17,000 35,808 # Jess-Link Products Co., Ltd..................... 1,094,000 1,016,557 Jih Sun Financial Holdings Co., Ltd............. 3,662,995 1,050,876 K Laser Technology, Inc......................... 1,389,601 800,696 # Kang Na Hsiung Enterprise Co., Ltd.............. 1,655,078 984,646 * Kao Hsing Chang Iron & Steel.................... 1,118,000 438,757 # Kaulin Manufacturing Co., Ltd................... 2,961,656 2,453,225 35 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- TAIWAN -- (Continued) KEE TAI Properties Co., Ltd............. 28,000 $ 20,112 * Kenmec Mechanical Engineering Co., Ltd.. 1,314,000 677,133 Kerry TJ Logistics Co., Ltd............. 304,000 426,328 Kindom Construction Co.................. 5,481,000 6,775,081 King Yuan Electronics Co., Ltd.......... 21,676,805 15,115,110 King's Town Bank........................ 11,813,012 10,509,008 * King's Town Construction Co., Ltd....... 30,000 29,028 Kinko Optical Co., Ltd.................. 418,000 429,104 # Kinpo Electronics....................... 19,097,375 8,510,943 # KS Terminals, Inc....................... 1,250,880 1,214,881 Kung Sing Engineering Corp.............. 1,507,000 753,622 # Kuo Toong International Co., Ltd........ 1,095,000 1,481,438 # Kuoyang Construction Co., Ltd........... 7,664,840 5,124,791 Kwong Fong Industries................... 4,296,720 3,199,195 KYE Systems Corp........................ 4,677,000 2,013,618 L&K Engineering Co., Ltd................ 2,019,000 2,109,329 LAN FA Textile.......................... 3,158,713 1,021,734 LCY Chemical Corp....................... 187,000 246,853 # Leader Electronics, Inc................. 1,614,056 802,153 Lealea Enterprise Co., Ltd.............. 12,751,118 4,687,695 # Ledtech Electronics Corp................ 310,000 195,291 # LEE CHI Enterprises Co., Ltd............ 3,466,900 1,723,195 Lelon Electronics Corp.................. 1,540,200 1,199,855 #* Leofoo Development Co................... 5,342,774 2,278,651 # LES Enphants Co., Ltd................... 692,000 533,716 Lextar Electronics Corp................. 1,016,000 868,122 * Li Peng Enterprise Co., Ltd............. 9,691,703 4,809,102 Lien Hwa Industrial Corp................ 8,943,990 5,782,329 Lingsen Precision Industries, Ltd....... 6,464,480 3,355,396 Lite-On Semiconductor Corp.............. 5,612,190 3,383,099 Lite-On Technology Corp................. 30,042,075 52,593,193 Long Chen Paper Co., Ltd................ 8,162,253 3,223,501 # Longwell Co............................. 1,333,000 1,182,994 # Lotes Co., Ltd.......................... 933,000 2,290,379 * Lucky Cement Corp....................... 3,099,000 849,228 #* Macronix International.................. 69,439,913 16,232,586 Marketech International Corp............ 2,165,000 1,320,573 Masterlink Securities Corp.............. 16,637,000 5,489,920 Maxtek Technology Co., Ltd.............. 193,000 112,167 # Mayer Steel Pipe Corp................... 2,472,456 1,193,027 Maywufa Co., Ltd........................ 252,070 142,754 Mega Financial Holding Co., Ltd......... 135,127,381 117,005,240 * Megamedia Corp.......................... 782 -- Meiloon Industrial Co................... 1,613,084 1,246,147 Mercuries & Associates, Ltd............. 1,863,937 1,400,857 * Mercuries Data Systems, Ltd............. 729,800 223,187 * Mercuries Life Insurance Co., Ltd....... 278,000 195,221 Micro-Star International Co., Ltd....... 14,542,985 9,775,049 * Microelectronics Technology, Inc........ 721,826 466,909 Mirle Automation Corp................... 565,550 483,132 * Mitac Holdings Corp..................... 10,023,725 9,211,885 Mobiletron Electronics Co., Ltd......... 153,000 191,470 36 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- TAIWAN -- (Continued) * Mosel Vitelic, Inc........................ 7,422,506 $ 1,700,685 #* Motech Industries, Inc.................... 3,195,000 5,944,652 * Nan Ren Lake Leisure Amusement Co., Ltd... 917,000 421,085 #* Nan Ya Printed Circuit Board Corp......... 3,855,000 5,207,020 # Nantex Industry Co., Ltd.................. 2,345,766 1,665,081 * Nanya Technology Corp..................... 3,851,000 534,566 #* Neo Solar Power Corp...................... 10,557,719 11,250,386 New Asia Construction & Development Corp.. 1,810,304 479,112 New Era Electronics Co., Ltd.............. 146,000 187,122 Nichidenbo Corp........................... 101,330 88,954 Nien Hsing Textile Co., Ltd............... 4,175,721 4,530,519 # Nishoku Technology, Inc................... 260,000 367,336 #* Ocean Plastics Co., Ltd................... 628,000 786,433 * Optimax Technology Corp................... 1,085,597 174,901 OptoTech Corp............................. 9,532,000 3,941,761 * Orient Semiconductor Electronics, Ltd..... 5,501,276 953,581 Pacific Construction Co................... 2,329,452 823,652 #* Pan Jit International, Inc................ 6,633,837 2,864,436 # Pan-International Industrial.............. 2,937,766 2,351,108 # Paragon Technologies Co., Ltd............. 1,221,191 1,569,613 # Pegatron Corp............................. 28,348,998 39,500,652 Phihong Technology Co., Ltd............... 2,723,320 1,680,884 * Picvue Electronics, Ltd................... 241,600 -- Plotech Co., Ltd.......................... 760,282 270,577 Portwell, Inc............................. 669,000 625,363 * Potrans Electrical Corp................... 1,139,000 -- Pou Chen Corp............................. 29,022,550 35,352,241 * Powercom Co., Ltd......................... 1,347,500 257,918 # Powertech Industrial Co., Ltd............. 271,000 156,618 # Powertech Technology, Inc................. 11,391,000 20,528,082 President Securities Corp................. 12,690,992 7,149,978 Prime Electronics Satellitics, Inc........ 269,000 210,353 # Prince Housing & Development Corp......... 2,693,782 1,735,460 * Procomp Informatics, Ltd.................. 391,440 -- * Prodisc Technology, Inc................... 6,185,157 -- Promate Electronic Co., Ltd............... 851,000 890,275 * Qisda Corp................................ 26,623,171 6,177,354 Quanta Storage, Inc....................... 2,413,000 2,512,847 * Quintain Steel Co., Ltd................... 5,893,629 1,365,929 # Radium Life Tech Co., Ltd................. 9,304,290 8,141,574 Ralec Electronic Corp..................... 477,087 702,414 Rechi Precision Co., Ltd.................. 230,651 230,334 Rich Development Co., Ltd................. 2,011,054 863,802 #* Ritek Corp................................ 53,401,622 8,668,154 * Sainfoin Technology Corp.................. 835,498 -- Sampo Corp................................ 9,863,925 3,460,502 Sanyang Industry Co., Ltd................. 10,027,624 17,548,157 SDI Corp.................................. 974,000 1,085,543 Sesoda Corp............................... 973,875 1,047,920 Shan-Loong Transportation Co., Ltd........ 66,000 54,246 Sheng Yu Steel Co., Ltd................... 1,935,000 1,479,942 ShenMao Technology, Inc................... 1,245,000 1,454,027 37 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- TAIWAN -- (Continued) Shih Her Technologies, Inc...................... 373,000 $ 815,101 Shih Wei Navigation Co., Ltd.................... 2,432,718 1,745,697 Shihlin Electric & Engineering Corp............. 4,426,000 5,595,372 # Shin Kong Financial Holding Co., Ltd............ 133,903,755 46,568,964 Shin Zu Shing Co., Ltd.......................... 552,000 1,216,107 # Shinkong Insurance Co., Ltd..................... 3,516,412 2,737,670 Shinkong Synthetic Fibers Corp.................. 26,952,754 9,313,184 # Shuttle, Inc.................................... 4,011,015 1,754,979 Sigurd Microelectronics Corp.................... 6,663,047 6,454,999 * Silicon Integrated Systems Corp................. 10,317,165 3,210,301 Silitech Technology Corp........................ 259,000 334,703 Sinbon Electronics Co., Ltd..................... 1,951,000 2,321,258 Sincere Navigation Corp......................... 4,719,740 4,387,138 Singatron Enterprise Co., Ltd................... 63,000 33,865 * Sinkang Industries, Ltd......................... 699,557 250,773 #* Sino-American Silicon Products, Inc............. 5,456,000 7,563,434 # Sinon Corp...................................... 6,282,877 3,519,068 SinoPac Financial Holdings Co., Ltd............. 121,894,614 60,321,207 Sirtec International Co., Ltd................... 404,000 776,430 Sitronix Technology Corp........................ 1,476,000 2,462,110 * Siward Crystal Technology Co., Ltd.............. 2,080,875 979,010 Solar Applied Materials Technology Co........... 356,000 303,108 * Solartech Energy Corp........................... 1,509,000 1,285,647 Solomon Technology Corp......................... 1,334,671 582,671 #* Solytech Enterprise Corp........................ 3,043,000 1,128,124 Southeast Cement Co., Ltd....................... 3,539,700 2,047,481 Spirox Corp..................................... 977,661 414,110 * Star Comgistic Capital Co., Ltd................. 2,030,676 836,337 # Stark Technology, Inc........................... 2,259,200 2,343,614 Sunonwealth Electric Machine Industry Co., Ltd.. 478,421 277,551 * Sunplus Technology Co., Ltd..................... 8,214,620 3,004,701 Sunrex Technology Corp.......................... 1,158,000 485,180 * Super Dragon Technology Co., Ltd................ 155,175 108,244 # Supreme Electronics Co., Ltd.................... 3,375,681 1,713,079 Sweeten Construction Co., Ltd................... 1,258,501 816,003 Sysage Technology Co., Ltd...................... 178,500 190,495 Systex Corp..................................... 801,801 1,521,669 T-Mac Techvest PCB Co., Ltd..................... 252,000 181,419 TA Chen Stainless Pipe.......................... 8,424,281 4,034,472 * Ta Chong Bank, Ltd.............................. 28,492,769 9,994,469 Ta Ya Electric Wire & Cable..................... 9,145,329 2,172,407 TA-I Technology Co., Ltd........................ 1,750,233 906,674 # Tah Hsin Industrial Co., Ltd.................... 1,700,000 1,660,825 TAI Roun Products Co., Ltd...................... 63,000 21,441 # Taichung Commercial Bank........................ 29,348,178 10,883,827 Tainan Enterprises Co., Ltd..................... 1,899,183 2,152,880 Tainan Spinning Co., Ltd........................ 17,605,938 13,269,730 Taishin Financial Holding Co., Ltd.............. 114,788,390 57,974,121 #* Taisun Enterprise Co., Ltd...................... 3,464,410 1,777,567 * Taita Chemical Co., Ltd......................... 3,554,864 1,520,751 * Taiwan Business Bank............................ 59,761,510 18,367,895 # Taiwan Calsonic Co., Ltd........................ 48,000 47,622 38 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- TAIWAN -- (Continued) Taiwan Cement Corp............................. 45,081,440 $65,611,018 Taiwan Chinsan Electronic Industrial Co., Ltd.. 54,000 87,668 Taiwan Cogeneration Corp....................... 4,200,333 2,601,620 Taiwan Cooperative Financial Holding........... 88,650,827 49,849,018 Taiwan Fertilizer Co., Ltd..................... 1,174,000 2,797,544 Taiwan Fire & Marine Insurance Co.............. 1,158,000 923,712 * Taiwan Flourescent Lamp Co., Ltd............... 756,000 -- Taiwan FU Hsing Industrial Co., Ltd............ 2,128,000 2,389,050 Taiwan Glass Industry Corp..................... 9,558,710 9,673,146 # Taiwan Hopax Chemicals Manufacturing Co., Ltd.. 1,140,000 864,140 * Taiwan Kolin Co., Ltd.......................... 5,797,000 -- #* Taiwan Land Development Corp................... 12,397,739 4,758,414 * Taiwan Life Insurance Co., Ltd................. 788,419 698,967 Taiwan Mask Corp............................... 3,154,250 1,025,577 Taiwan Navigation Co., Ltd..................... 970,000 899,501 Taiwan Paiho, Ltd.............................. 2,887,549 4,001,931 Taiwan PCB Techvest Co., Ltd................... 1,195,946 1,371,131 # Taiwan Prosperity Chemical Corp................ 220,000 225,391 #* Taiwan Pulp & Paper Corp....................... 7,065,660 3,092,361 # Taiwan Sakura Corp............................. 2,890,472 1,869,556 Taiwan Semiconductor Co., Ltd.................. 2,224,000 1,828,989 * Taiwan Styrene Monomer......................... 7,258,045 5,532,602 Taiwan Surface Mounting Technology Co., Ltd.... 991,600 1,412,425 #* Taiwan TEA Corp................................ 12,079,092 9,932,559 Taiwan Union Technology Corp................... 3,225,000 2,466,542 Taiyen Biotech Co., Ltd........................ 3,286,000 2,811,782 #* Tatung Co., Ltd................................ 36,532,342 10,128,320 Teco Electric and Machinery Co., Ltd........... 32,704,725 34,880,242 * Tecom Co., Ltd................................. 703,753 71,358 * Tekcore Co., Ltd............................... 372,000 167,922 Test-Rite International Co., Ltd............... 907,266 706,298 TEX RAY INDUSTRIAL Co., Ltd.................... 273,000 146,238 ThaiLin Semiconductor Corp..................... 1,139,000 683,421 # Thinking Electronic Industrial Co., Ltd........ 1,490,000 1,727,992 Ton Yi Industrial Corp......................... 9,741,600 10,778,951 Tong Yang Industry Co., Ltd.................... 5,716,228 8,901,072 Tong-Tai Machine & Tool Co., Ltd............... 3,193,368 3,063,960 Topco Scientific Co., Ltd...................... 705,480 1,236,725 # Topoint Technology Co., Ltd.................... 2,564,288 1,966,776 Transasia Airways Corp......................... 768,000 321,017 Tripod Technology Corp......................... 641,000 1,267,495 # Tung Ho Steel Enterprise Corp.................. 12,119,274 10,867,288 Tung Ho Textile Co., Ltd....................... 2,542,000 865,731 * TYC Brother Industrial Co., Ltd................ 2,525,723 1,441,958 #* Tycoons Group Enterprise....................... 7,782,938 1,550,803 * Tyntek Corp.................................... 5,222,683 1,277,116 TZE Shin International Co., Ltd................ 1,095,645 440,007 * U-Tech Media Corp.............................. 1,946,799 412,802 Unic Technology Corp........................... 36,361 14,534 # Unimicron Technology Corp...................... 24,359,363 19,266,486 #* Union Bank Of Taiwan........................... 11,008,494 4,028,543 Unitech Computer Co., Ltd...................... 1,308,739 624,838 39 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- TAIWAN -- (Continued) #* Unitech Printed Circuit Board Corp............... 11,440,281 $ 4,913,647 # United Integrated Services Co., Ltd.............. 1,576,000 1,740,284 # United Microelectronics Corp..................... 218,090,681 92,516,948 Unity Opto Technology Co., Ltd................... 532,000 416,711 Universal Cement Corp............................ 6,228,551 5,718,657 #* Unizyx Holding Corp.............................. 6,190,000 3,219,142 UPC Technology Corp.............................. 12,594,746 6,086,417 USI Corp......................................... 5,907,691 4,333,926 Ve Wong Corp..................................... 1,594,806 1,345,174 #* Wafer Works Corp................................. 3,331,000 1,797,943 # Wah Hong Industrial Corp......................... 294,516 315,845 Wah Lee Industrial Corp.......................... 1,777,000 2,848,922 * Walsin Lihwa Corp................................ 58,770,412 18,218,180 * Walsin Technology Corp........................... 10,079,230 2,702,324 #* Walton Advanced Engineering, Inc................. 6,089,853 2,174,922 Wan Hai Lines, Ltd............................... 9,268,000 4,994,495 # WAN HWA Enterprise Co............................ 675,550 343,945 Waterland Financial Holdings Co., Ltd............ 30,493,739 10,488,396 Ways Technical Corp., Ltd........................ 256,000 372,898 * WEI Chih Steel Industrial Co., Ltd............... 1,880,898 311,005 #* Wei Mon Industry Co., Ltd........................ 6,500,691 2,134,245 # Weikeng Industrial Co., Ltd...................... 1,617,550 1,199,641 Well Shin Technology Co., Ltd.................... 987,080 1,680,741 Weltrend Semiconductor........................... 1,097,100 1,049,602 Wha Yu Industrial Co., Ltd....................... 138,000 89,158 Win Semiconductors Corp.......................... 1,411,000 1,244,536 #* Winbond Electronics Corp......................... 51,988,885 13,122,959 #* Wintek Corp...................................... 42,368,507 15,826,205 # Wisdom Marine Lines Co., Ltd..................... 396,350 475,618 # Wistron Corp..................................... 32,596,332 30,602,269 WPG Holdings, Ltd................................ 515,092 626,506 # WT Microelectronics Co., Ltd..................... 3,532,096 4,219,246 WUS Printed Circuit Co., Ltd..................... 6,267,928 2,818,008 Yageo Corp....................................... 23,867,788 8,128,926 * Yang Ming Marine Transport Corp.................. 24,996,676 11,085,129 YC INOX Co., Ltd................................. 4,646,667 3,258,328 # Yem Chio Co., Ltd................................ 4,696,764 3,577,352 # YFY, Inc......................................... 18,338,847 9,732,241 #* Yi Jinn Industrial Co., Ltd...................... 3,816,796 1,037,157 * Yieh Phui Enterprise Co., Ltd.................... 16,525,235 5,227,528 Young Fast Optoelectronics Co., Ltd.............. 2,546,000 2,794,680 Yuanta Financial Holding Co., Ltd................ 151,353,654 82,534,377 Yulon Motor Co., Ltd............................. 13,491,572 23,814,020 Yung Chi Paint & Varnish Manufacturing Co., Ltd.. 359,687 848,894 # Zenitron Corp.................................... 3,202,000 2,077,882 #* Zig Sheng Industrial Co., Ltd.................... 8,536,352 3,065,110 Zinwell Corp..................................... 1,931,000 2,079,412 -------------- TOTAL TAIWAN......................................... 2,882,123,235 -------------- THAILAND -- (3.1%) AAPICO Hitech PCL................................ 681,760 370,176 AJ Plast PCL..................................... 2,076,900 680,623 40 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- THAILAND -- (Continued) AP Thailand PCL........................................ 20,514,600 $ 3,592,115 Asia Plus Securities PCL............................... 10,463,900 1,270,796 Bangchak Petroleum PCL................................. 10,134,500 10,826,414 Bangkok Bank PCL(6368360).............................. 11,332,400 75,003,194 Bangkok Bank PCL(6077019).............................. 6,294,000 41,656,675 Bangkok Expressway PCL................................. 5,564,000 6,480,161 Bangkok Insurance PCL.................................. 152,020 1,807,145 Bangkokland PCL........................................ 127,978,803 7,072,242 Bank of Ayudhya PCL(6359933)........................... 6,065,200 7,453,619 Bank of Ayudhya PCL(6075949)........................... 22,788,300 28,004,899 Banpu PCL.............................................. 18,169,000 16,928,546 CalComp Electronics Thailand PCL....................... 25,500,100 2,539,769 Charoong Thai Wire & Cable PCL......................... 1,255,800 423,643 Delta Electronics Thailand PCL......................... 4,773,500 7,323,201 Eastern Water Resources Development and Management PCL. 6,336,200 2,585,373 Esso Thailand PCL...................................... 23,848,000 5,363,406 * G J Steel PCL.......................................... 537,140,250 1,208,026 * G Steel PCL (Foreign).................................. 79,804,200 358,959 * Golden Land Property Development PCL................... 477,800 119,738 Hana Microelectronics PCL.............................. 5,060,700 3,707,115 Hemaraj Land and Development PCL....................... 153,300 17,140 ICC International PCL.................................. 2,682,700 3,447,647 IRPC PCL............................................... 144,935,100 16,670,447 Kang Yong Electric PCL................................. 3,400 27,091 KGI Securities Thailand PCL............................ 18,177,700 1,681,985 Kiatnakin Bank PCL..................................... 5,637,200 7,561,545 Krung Thai Bank PCL.................................... 90,737,300 59,179,669 Laguna Resorts & Hotels PCL............................ 1,342,400 1,401,703 Lanna Resources PCL.................................... 114,300 45,536 LH Financial Group PCL................................. 15,909,050 679,808 MBK PCL................................................ 863,200 4,160,000 * Padaeng Industry PCL................................... 1,412,500 458,353 Polyplex Thailand PCL.................................. 5,498,800 1,802,016 Precious Shipping PCL.................................. 6,442,200 3,973,984 Property Perfect PCL................................... 47,707,300 1,670,713 PTT Global Chemical PCL................................ 32,067,141 80,876,163 PTT PCL................................................ 10,844,100 110,444,328 Quality Houses PCL..................................... 37,762,541 3,688,293 * Regional Container Lines PCL........................... 5,665,000 1,201,253 Saha Pathana Inter-Holding PCL......................... 2,906,200 2,072,856 Saha Pathanapibul PCL.................................. 1,594,833 2,254,543 Saha-Union PCL......................................... 2,976,400 3,633,838 * Sahaviriya Steel Industries PCL........................ 149,229,740 1,773,976 Sansiri PCL............................................ 27,531,600 1,981,391 SC Asset Corp PCL...................................... 24,913,125 3,009,585 Siam Future Development PCL............................ 2,826,287 603,849 Siamgas & Petrochemicals PCL........................... 495,200 219,559 Somboon Advance Technology PCL......................... 94,200 49,635 Sri Ayudhya Capital PCL................................ 233,300 176,896 Sri Trang Agro-Industry PCL............................ 9,010,400 3,908,125 Srithai Superware PCL.................................. 552,000 326,323 * Tata Steel Thailand PCL................................ 39,336,300 1,074,244 41 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- THAILAND -- (Continued) Thai Airways International PCL............................................. 16,383,411 $ 10,685,405 Thai Carbon Black PCL...................................................... 441,000 318,087 Thai Oil PCL............................................................... 14,199,200 28,740,549 Thai Rayon PCL............................................................. 165,000 159,036 Thai Stanley Electric PCL(B01GKK6)......................................... 174,600 1,290,217 Thai Stanley Electric PCL(B01GKM8)......................................... 43,100 318,490 Thai Wacoal PCL............................................................ 93,300 147,257 Thanachart Capital PCL..................................................... 11,084,300 12,286,212 Thitikorn PCL.............................................................. 97,700 36,098 * Thoresen Thai Agencies PCL................................................. 8,166,900 4,644,309 Tisco Financial Group PCL.................................................. 1,693,700 2,394,307 TMB Bank PCL............................................................... 192,971,200 16,987,665 Total Access Communication PCL............................................. 5,393,680 19,495,229 TPI Polene PCL............................................................. 14,898,724 6,174,893 * Tycoons Worldwide Group Thailand PCL....................................... 1,243,300 170,167 Vanachai Group PCL......................................................... 8,446,600 759,855 Vinythai PCL............................................................... 6,598,217 2,480,294 ------------ TOTAL THAILAND................................................................. 651,936,399 ------------ TURKEY -- (2.5%) Adana Cimento Sanayii TAS Class A.......................................... 1,015,460 2,080,241 #* Adese Alisveris Merkezleri Ticaret A.S..................................... 50,874 223,866 Akbank TAS................................................................. 4,302,364 16,816,298 Akcansa Cimento A.S........................................................ 4,648 25,962 #* Akenerji Elektrik Uretim A.S............................................... 3,431,162 2,298,352 #* Akfen Holding A.S.......................................................... 940,621 2,040,640 Aksa Akrilik Kimya Sanayii................................................. 1,735,088 7,156,314 Aksigorta A.S.............................................................. 1,208,497 1,681,544 Alarko Holding A.S......................................................... 1,328,166 3,929,403 * Albaraka Turk Katilim Bankasi A.S.......................................... 3,392,871 3,018,587 * Altinyildiz Mensucat ve Konfeksiyon Fabrikalari A.S........................ 52,204 1,300,206 #* Anadolu Anonim Tuerk Sigorta Sirketi....................................... 4,326,842 2,858,133 Anadolu Cam Sanayii A.S.................................................... 2,275,126 2,762,679 #* Asya Katilim Bankasi A.S................................................... 10,427,239 10,564,505 # Aygaz A.S.................................................................. 1,020,159 4,643,847 * Baticim Bati Anadolu Cimento Sanayii A.S................................... 303,326 1,001,963 Bolu Cimento Sanayii A.S................................................... 999,793 1,427,661 Borusan Mannesmann Boru Sanayi ve Ticaret A.S.............................. 151,966 2,498,729 Cimsa Cimento Sanayi VE Tica............................................... 576,229 3,726,421 #* Deva Holding A.S........................................................... 1,233,392 1,300,616 Dogan Gazetecilik A.S...................................................... 40,611 33,100 * Dogan Sirketler Grubu Holding A.S.......................................... 16,350,353 7,357,180 #* Dogan Yayin Holding A.S.................................................... 1,034,173 356,246 Dogus Otomotiv Servis ve Ticaret A.S....................................... 73,958 354,093 # Eczacibasi Yatirim Holding Ortakligi A.S................................... 855,876 2,746,525 EGE Seramik Sanayi ve Ticaret A.S.......................................... 1,418,706 1,903,317 EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret A.S.. 3,954,537 5,004,549 Eregli Demir ve Celik Fabrikalari TAS...................................... 23,187,774 32,060,714 Gentas Genel Metal Sanayi ve Ticaret A.S................................... 821,239 476,606 Global Yatirim Holding A.S................................................. 4,381,715 3,023,883 # Goltas Goller Bolgesi Cimento Sanayi ve Ticaret A.S........................ 45,038 1,287,501 * Gozde Girisim Sermayesi Yatirim Ortakligi A.S.............................. 9,558 28,820 42 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- TURKEY -- (Continued) #* GSD Holding......................................................... 4,585,286 $ 2,886,044 * Gunes Sigorta....................................................... 424,619 401,545 #* Hurriyet Gazetecilik A.S............................................ 3,447,484 1,307,448 #* Ihlas EV Aletleri................................................... 2,765,346 828,919 #* Ihlas Holding A.S................................................... 14,952,395 5,533,895 * Is Finansal Kiralama A.S............................................ 2,908,338 1,425,513 Is Yatirim Menkul Degerler A.S. Class A............................. 450,584 324,851 * Isiklar Yatirim Holding A.S......................................... 1,056,428 280,523 #* Izmir Demir Celik Sanayi A.S........................................ 554,725 765,349 #* Kardemir Karabuk Demir Celik Sanayi ve Ticaret A.S. Class A......... 4,207,672 4,070,469 #* Kardemir Karabuk Demir Celik Sanayi ve Ticaret A.S. Class B......... 2,179,441 4,726,525 * Kardemir Karabuk Demir Celik Sanayi ve Ticaret A.S. Class D......... 13,524,360 8,494,809 #* Karsan Otomotiv Sanayii Ve Ticaret A.S.............................. 1,793,098 1,062,989 # KOC Holding A.S..................................................... 12,307,828 60,280,805 Kordsa Global Endustriyel Iplik ve Kord Bezi Sanayi ve Ticaret A.S.. 266,467 483,208 * Koza Anadolu Metal Madencilik Isletmeleri A.S....................... 1,412,866 3,066,001 * Menderes Tekstil Sanayi ve Ticaret A.S.............................. 4,014,065 1,062,589 * Metro Ticari ve Mali Yatirimlar Holding A.S......................... 3,286,794 1,101,256 Mutlu Aku ve Malzemeleri Sanayi AS.................................. 158,475 574,543 * Mutlu Yatirim Proje ve Gayrimenkul Gelistirme AS.................... 6,852 87,607 #* Net Turizm Ticaret ve Sanayi SA..................................... 3,429,929 1,508,493 #* Petkim Petrokimya Holding A.S....................................... 4,769,900 7,508,340 Pinar Entegre Et ve Un Sanayi A.S................................... 343,247 1,322,955 Pinar SUT Mamulleri Sanayii A.S..................................... 173,137 1,499,965 #* Polyester Sanayi A.S................................................ 2,315,248 1,283,972 * Raks Elektronik Sanayi ve Ticaret A.S............................... 5,859 -- * Sabah Yayincilik.................................................... 31,938 -- # Sarkuysan Elektrolitik Bakir Sanayi ve Ticaret A.S.................. 1,335,250 2,040,101 * Sekerbank TAS....................................................... 6,919,207 6,546,694 Selcuk Ecza Deposu Ticaret ve Sanayi A.S............................ 2,308,839 2,297,447 Soda Sanayii A.S.................................................... 1,657,869 2,190,220 * TAT Konserve Sanayii A.S............................................ 231,395 296,093 Tekfen Holding A.S.................................................. 1,896,452 4,561,451 #* Tekstil Bankasi A.S................................................. 1,683,023 1,295,130 # Trakya Cam Sanayi A.S............................................... 4,315,631 5,345,467 # Turcas Petrol A.S................................................... 1,122,860 1,761,681 Turk Hava Yollari................................................... 11,677,997 45,534,612 Turkiye Is Bankasi.................................................. 36,884,191 100,763,267 Turkiye Sinai Kalkinma Bankasi A.S.................................. 7,436,484 7,242,348 # Turkiye Sise ve Cam Fabrikalari A.S................................. 8,439,790 12,384,179 Turkiye Vakiflar Bankasi Tao........................................ 13,789,100 32,993,771 Ulker Biskuvi Sanayi A.S............................................ 369,278 2,816,928 * Uzel Makina Sanayii A.S............................................. 275,043 -- #* Vestel Beyaz Esya Sanayi ve Ticaret A.S............................. 1,067,440 1,585,466 #* Vestel Elektronik Sanayi ve Ticaret A.S............................. 2,059,212 2,108,448 # Yapi ve Kredi Bankasi A.S........................................... 20,866,189 48,161,726 #* Zorlu Enerji Elektrik Uretim A.S.................................... 2,638,137 1,741,266 --------------- TOTAL TURKEY............................................................ 519,543,409 --------------- TOTAL COMMON STOCKS..................................................... 18,812,179,100 --------------- 43 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES VALUE++ ------ ------- PREFERRED STOCKS -- (2.2%) BRAZIL -- (2.1%) Banco ABC Brasil SA...................................... 997,037 $ 6,135,325 Banco Alfa de Investimento SA............................ 60,126 151,867 Banco Daycoval SA........................................ 615,948 2,450,576 Banco do Estado do Rio Grande do Sul SA Class B.......... 713,821 5,142,033 Banco Industrial e Comercial SA.......................... 1,675,900 5,610,687 * Banco Panamericano SA.................................... 953,148 2,251,086 Banco Pine SA............................................ 365,877 1,717,713 Banco Sofisa SA.......................................... 694,800 856,419 * Braskem SA Class A....................................... 1,950,933 17,236,911 Cia Ferro Ligas da Bahia--Ferbasa........................ 920,734 5,627,408 Eucatex SA Industria e Comercio.......................... 298,688 895,625 Financeira Alfa SA Credito Financiamento e Investimentos. 33,900 66,451 Forjas Taurus SA......................................... 1,144,290 1,102,025 Gerdau SA................................................ 6,948,596 54,832,146 * Inepar SA Industria e Construcoes........................ 1,185,608 591,419 Klabin SA................................................ 4,025,949 21,408,792 Parana Banco SA.......................................... 120,800 769,128 Petroleo Brasileiro SA................................... 24,521,904 222,343,011 Suzano Papel e Celulose SA Class A....................... 7,456,309 30,115,387 Unipar Participacoes SA Class B.......................... 9,258,736 1,976,733 * Usinas Siderurgicas de Minas Gerais SA Class A........... 11,752,415 62,114,734 Whirlpool SA............................................. 58,400 114,207 ------------ TOTAL BRAZIL................................................. 443,509,683 ------------ COLOMBIA -- (0.1%) Banco Davivienda SA...................................... 7,851 102,974 Grupo de Inversiones Suramericana SA..................... 756,807 15,037,357 ------------ TOTAL COLOMBIA............................................... 15,140,331 ------------ TOTAL PREFERRED STOCKS....................................... 458,650,014 ------------ RIGHTS/WARRANTS -- (0.0%) CHILE -- (0.0%) * Salfacorp SA Rights 11/08/13............................. 169,995 100 ------------ MALAYSIA -- (0.0%) * Malaysian Resources Corp. Bhd Warrants 09/16/18.......... 4,765,795 385,124 ------------ POLAND -- (0.0%) * Polimex-Mostostal SA Rights.............................. 10,512,907 -- ------------ SOUTH KOREA -- (0.0%) * Hanwha General Insurance Co., Ltd. Rights 11/08/13....... 78,510 22,204 ------------ THAILAND -- (0.0%) * G J Steel PCL Rights 02/07/20............................ 8,915,217 57,286 ------------ TOTAL RIGHTS/WARRANTS........................................ 464,714 ------------ 44 DIMENSIONAL EMERGING MARKETS VALUE FUND CONTINUED SHARES/ FACE AMOUNT (000) VALUE+ ------- ------ SECURITIES LENDING COLLATERAL -- (7.3%) (S)@ DFA Short Term Investment Fund....................................................... 129,904,927 $ 1,503,000,000 @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $12,056,798 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $10,903,189) to be repurchased at $10,689,437....... $ 10,689 10,689,401 --------------- TOTAL SECURITIES LENDING COLLATERAL........................................................ 1,513,689,401 --------------- TOTAL INVESTMENTS -- (100.0%) (Cost $20,304,856,701) $20,784,983,229 =============== 45 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 SHARES VALUE+ ------ -------- COMMON STOCKS -- (92.4%) Consumer Discretionary -- (13.0%) * 1-800-Flowers.com, Inc. Class A 3,000 $ 16,290 Aaron's, Inc. 5,257 149,141 # Abercrombie & Fitch Co. Class A 5,896 220,982 Advance Auto Parts, Inc. 845 83,807 #* Aeropostale, Inc. 6,474 60,143 * AFC Enterprises, Inc. 1,022 45,561 AH Belo Corp. Class A 900 7,236 # Allison Transmission Holdings, Inc. 1,060 25,811 * Amazon.com, Inc. 2,300 837,269 Ambassadors Group, Inc. 1,110 4,096 * AMC Networks, Inc. Class A 1,695 118,803 * America's Car-Mart, Inc. 1,100 50,314 * American Axle & Manufacturing Holdings, Inc. 2,809 52,275 American Eagle Outfitters, Inc. 6,757 104,666 * American Public Education, Inc. 1,804 72,214 * ANN, Inc. 2,785 98,478 Arctic Cat, Inc. 1,500 78,600 # Ark Restaurants Corp. 120 2,544 * Asbury Automotive Group, Inc. 2,849 136,894 * Ascena Retail Group, Inc. 8,514 168,492 #* Ascent Capital Group, Inc. Class A 900 75,978 Autoliv, Inc. 3,670 327,474 * AutoNation, Inc. 2,100 101,283 * AutoZone, Inc. 400 173,876 * Ballantyne Strong, Inc. 900 4,491 #* Barnes & Noble, Inc. 5,623 79,453 Bassett Furniture Industries, Inc. 1,200 16,800 * Beazer Homes USA, Inc. 1,140 20,714 bebe stores, Inc. 4,600 27,738 * Bed Bath & Beyond, Inc. 1,695 131,057 Belo Corp. Class A 7,438 102,124 Best Buy Co., Inc. 10,211 437,031 Big 5 Sporting Goods Corp. 2,401 45,403 * Big Lots, Inc. 6,017 218,778 * Biglari Holdings, Inc. 90 39,242 * Blue Nile, Inc. 650 26,695 # Blyth, Inc. 1,150 15,882 # Bob Evans Farms, Inc. 2,925 166,988 * Body Central Corp. 600 3,360 # Bon-Ton Stores, Inc. (The) 1,300 14,885 #* Books-A-Million, Inc. 600 1,506 BorgWarner, Inc. 4,837 498,840 #* Bridgepoint Education, Inc. 4,469 87,592 Brinker International, Inc. 500 22,210 Brown Shoe Co., Inc. 3,254 73,020 Brunswick Corp. 2,455 110,794 Buckle, Inc. (The) 1,193 58,385 * Build-A-Bear Workshop, Inc. 1,400 11,004 * Cabela's, Inc. 4,090 242,619 Cablevision Systems Corp. Class A 1,600 24,880 * Cache, Inc. 656 3,956 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Consumer Discretionary -- (Continued) Callaway Golf Co. 5,050 $ 42,571 * Cambium Learning Group, Inc. 2,515 3,672 * Capella Education Co. 1,476 89,918 * Career Education Corp. 4,300 23,564 * CarMax, Inc. 7,644 359,192 * Carmike Cinemas, Inc. 2,000 45,780 Carnival Corp. 9,648 334,303 Carriage Services, Inc. 1,100 22,099 * Carrols Restaurant Group, Inc. 1,634 9,477 Carter's, Inc. 2,440 168,726 Cato Corp. (The) Class A 2,682 80,380 #* Cavco Industries, Inc. 680 39,828 CBS Corp. Class A 334 19,743 CBS Corp. Class B 9,300 550,002 CEC Entertainment, Inc. 1,500 69,525 #* Charles & Colvard, Ltd. 612 3,250 * Charter Communications, Inc. Class A 1,400 187,936 Cheesecake Factory, Inc. (The) 5,630 266,017 Cherokee, Inc. 200 2,744 Chico's FAS, Inc. 9,596 164,571 * Children's Place Retail Stores, Inc. (The) 1,700 92,803 * Chipotle Mexican Grill, Inc. 300 158,091 # Choice Hotels International, Inc. 2,260 105,293 * Christopher & Banks Corp. 1,927 11,119 Cinemark Holdings, Inc. 8,029 263,431 * Citi Trends, Inc. 1,012 14,856 * Clear Channel Outdoor Holdings, Inc. Class A 1,900 16,150 Coach, Inc. 1,400 70,952 # Collectors Universe 300 4,995 Columbia Sportswear Co. 2,948 197,133 Comcast Corp. Class A 55,612 2,646,019 Comcast Corp. Special Class A 11,444 529,857 #* Conn's, Inc. 3,060 184,946 # Cooper Tire & Rubber Co. 6,800 176,868 * Corinthian Colleges, Inc. 3,000 6,420 Cracker Barrel Old Country Store, Inc. 1,900 208,753 * Crocs, Inc. 10,475 127,585 CSS Industries, Inc. 200 5,178 # CST Brands, Inc. 1,583 51,036 CTC Media, Inc. 15,473 195,579 Culp, Inc. 600 11,610 * Cumulus Media, Inc. Class A 6,797 40,646 # Dana Holding Corp. 9,919 194,412 # Darden Restaurants, Inc. 5,153 265,534 #* Deckers Outdoor Corp. 2,737 188,388 #* dELiA*s, Inc. 100 138 Delphi Automotive P.L.C. 1,500 85,800 #* Delta Apparel, Inc. 600 11,340 Destination Maternity Corp. 1,363 42,580 * Destination XL Group, Inc. 3,677 25,555 # DeVry, Inc. 5,721 205,384 Dick's Sporting Goods, Inc. 1,192 63,426 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Consumer Discretionary -- (Continued) * Digital Generation, Inc. 2,881 $ 36,445 Dillard's, Inc. Class A 3,750 307,425 DineEquity, Inc. 1,903 156,179 * DIRECTV 3,462 216,340 * Discovery Communications, Inc. Class A 1,200 106,704 * Discovery Communications, Inc. Class B 100 8,835 * Discovery Communications, Inc. Class C 700 57,897 DISH Network Corp. Class A 1,278 61,600 * Dixie Group, Inc. (The) 200 2,520 * Dollar General Corp. 3,767 217,657 * Dollar Tree, Inc. 2,610 152,424 Domino's Pizza, Inc. 2,400 160,944 Dorman Products, Inc. 2,852 138,636 # DR Horton, Inc. 11,443 216,845 * DreamWorks Animation SKG, Inc. Class A 6,140 210,234 Drew Industries, Inc. 1,794 90,166 DSW, Inc. Class A 1,140 99,944 Dunkin' Brands Group, Inc. 5,639 268,868 #* Education Management Corp. 3,157 48,302 Einstein Noah Restaurant Group, Inc. 1,208 21,551 #* Emerson Radio Corp. 1,100 2,101 #* Entercom Communications Corp. Class A 2,204 19,329 Entravision Communications Corp. Class A 2,950 19,883 Escalade, Inc. 350 3,087 # Ethan Allen Interiors, Inc. 2,800 74,592 * EW Scripps Co. Class A 3,700 73,334 Expedia, Inc. 4,275 251,712 * Express, Inc. 6,979 161,983 Family Dollar Stores, Inc. 1,510 104,009 * Famous Dave's Of America, Inc. 600 10,830 * Federal-Mogul Corp. 5,385 110,339 * Fiesta Restaurant Group, Inc. 1,467 62,186 * Fifth & Pacific Cos., Inc. 3,438 91,073 Finish Line, Inc. (The) Class A 5,243 131,285 Flexsteel Industries, Inc. 148 4,064 Foot Locker, Inc. 7,045 244,461 Ford Motor Co. 35,509 607,559 * Fossil Group, Inc. 696 88,350 Fred's, Inc. Class A 2,937 47,579 * Fuel Systems Solutions, Inc. 2,116 38,003 #* G-III Apparel Group, Ltd. 1,994 113,100 * Gaiam, Inc. Class A 597 3,743 GameStop Corp. Class A 8,800 482,416 Gaming Partners International Corp. 400 3,320 Gannett Co., Inc. 10,017 277,170 Gap, Inc. (The) 1,487 55,004 # Garmin, Ltd. 6,797 317,760 * Geeknet, Inc. 200 3,836 * General Motors Co. 20,401 753,817 * Genesco, Inc. 1,759 119,805 Gentex Corp. 10,200 300,288 * Gentherm, Inc. 3,727 87,025 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Consumer Discretionary -- (Continued) # Genuine Parts Co. 1,894 $ 149,304 GNC Holdings, Inc. Class A 3,400 199,988 Goodyear Tire & Rubber Co. (The) 6,380 133,852 Gordmans Stores, Inc. 1,178 11,662 * Grand Canyon Education, Inc. 3,056 144,457 * Gray Television, Inc. 5,793 48,951 Group 1 Automotive, Inc. 1,800 115,200 #* Groupon, Inc. 15,534 141,825 Guess?, Inc. 6,685 208,906 H&R Block, Inc. 3,900 110,916 Hanesbrands, Inc. 2,400 163,488 Harley-Davidson, Inc. 2,700 172,908 Harman International Industries, Inc. 4,506 365,076 Harte-Hanks, Inc. 3,769 30,039 # Hasbro, Inc. 1,400 72,310 Haverty Furniture Cos., Inc. 2,057 57,205 * Helen of Troy, Ltd. 2,220 103,718 * hhgregg, Inc. 2,852 44,235 #* Hibbett Sports, Inc. 800 46,664 Hillenbrand, Inc. 5,753 162,350 Home Depot, Inc. (The) 8,636 672,658 #* HomeAway, Inc. 3,532 104,724 Hooker Furniture Corp. 554 8,753 HSN, Inc. 1,576 82,582 * Hyatt Hotels Corp. Class A 2,106 100,246 #* Iconix Brand Group, Inc. 6,468 233,430 International Speedway Corp. Class A 2,160 70,654 Interpublic Group of Cos., Inc. (The) 17,570 295,176 Interval Leisure Group, Inc. 4,657 113,025 #* iRobot Corp. 2,856 96,733 #* ITT Educational Services, Inc. 800 32,096 * Jack in the Box, Inc. 2,815 114,514 # JAKKS Pacific, Inc. 496 3,194 #* JC Penney Co., Inc. 6,640 49,800 John Wiley & Sons, Inc. Class A 2,307 116,019 John Wiley & Sons, Inc. Class B 142 7,143 Johnson Controls, Inc. 21,706 1,001,732 Johnson Outdoors, Inc. Class A 75 2,057 Jones Group, Inc. (The) 7,120 110,645 * Jos A Bank Clothiers, Inc. 2,720 130,506 * Journal Communications, Inc. Class A 3,665 30,603 * K12, Inc. 2,800 51,184 # KB Home 6,016 102,092 * Kid Brands, Inc. 15 21 * Kirkland's, Inc. 1,734 30,778 Kohl's Corp. 9,777 555,334 * Krispy Kreme Doughnuts, Inc. 4,997 121,227 L Brands, Inc. 3,500 219,135 La-Z-Boy, Inc. 5,515 127,286 * Lakeland Industries, Inc. 300 1,629 * Lamar Advertising Co. Class A 2,436 111,350 #* LeapFrog Enterprises, Inc. 3,800 32,528 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Consumer Discretionary -- (Continued) Lear Corp. 4,197 $324,806 #* Learning Tree International, Inc. 700 2,009 #* Lee Enterprises, Inc. 1,100 3,025 # Leggett & Platt, Inc. 9,377 278,872 # Lennar Corp. Class A 6,700 238,185 Lennar Corp. Class B 1,400 41,258 * Libbey, Inc. 737 15,735 * Liberty Global P.L.C. Class A 1,303 102,116 * Liberty Global P.L.C. Series C 1,001 74,935 * Liberty Interactive Corp. Class A 23,793 641,459 #* Liberty Interactive Corp. Class B 60 1,619 * Liberty Media Corp. Class A 2,330 356,280 * Liberty Media Corp. Class B 87 13,117 * Liberty Ventures Series A 1,457 156,438 * Liberty Ventures Series B 3 324 #* Life Time Fitness, Inc. 4,100 186,222 # Lifetime Brands, Inc. 706 11,056 * LIN Media LLC Class A 2,600 63,882 Lincoln Educational Services Corp. 1,400 6,692 #* Lions Gate Entertainment Corp. 3,279 113,388 Lithia Motors, Inc. Class A 2,090 131,356 * Live Nation Entertainment, Inc. 17,465 339,520 * LKQ Corp. 6,700 221,301 Loral Space & Communications, Inc. 980 69,943 Lowe's Cos., Inc. 8,170 406,703 * Luby's, Inc. 1,850 14,171 #* Lululemon Athletica, Inc. 1,200 82,860 #* Lumber Liquidators Holdings, Inc. 1,700 194,123 * M/I Homes, Inc. 2,000 40,940 Mac-Gray Corp. 800 16,864 Macy's, Inc. 5,040 232,394 * Madison Square Garden Co. (The) Class A 4,878 295,217 Marcus Corp. 1,500 21,540 Marine Products Corp. 2,227 20,867 #* MarineMax, Inc. 2,363 34,807 Marriott International, Inc. Class A 4,303 193,979 * Marriott Vacations Worldwide Corp. 742 37,159 * Martha Stewart Living Omnimedia Class A 3,017 7,724 Mattel, Inc. 1,908 84,658 Matthews International Corp. Class A 2,321 94,233 #* McClatchy Co. (The) Class A 4,116 11,607 McDonald's Corp. 6,003 579,410 MDC Holdings, Inc. 4,142 120,905 #* Media General, Inc. Class A 1,600 23,328 Men's Wearhouse, Inc. (The) 4,405 186,331 # Meredith Corp. 2,985 153,130 * Meritage Homes Corp. 3,886 176,386 * Michael Kors Holdings, Ltd. 2,900 223,155 * Modine Manufacturing Co. 4,909 65,388 * Mohawk Industries, Inc. 3,572 473,004 # Monro Muffler Brake, Inc. 1,750 80,500 # Morningstar, Inc. 1,514 121,559 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Consumer Discretionary -- (Continued) * Motorcar Parts of America, Inc. 900 $ 12,312 # Movado Group, Inc. 1,800 83,934 * Murphy USA, Inc. 2,546 103,317 NACCO Industries, Inc. Class A 500 28,485 #* Nathan's Famous, Inc. 300 15,396 National CineMedia, Inc. 2,558 44,816 * Nautilus, Inc. 2,810 22,368 * Netflix, Inc. 800 257,984 * New York & Co., Inc. 5,501 28,165 # New York Times Co. (The) Class A 16,087 222,483 Newell Rubbermaid, Inc. 3,836 113,661 * News Corp. Class A 4,700 82,720 * News Corp. Class B 1,775 31,826 # Nexstar Broadcasting Group, Inc. Class A 1,000 44,390 NIKE, Inc. Class B 3,762 285,009 # Nordstrom, Inc. 2,369 143,253 Nutrisystem, Inc. 2,677 50,328 * NVR, Inc. 100 91,732 * O'Reilly Automotive, Inc. 1,450 179,524 * Office Depot, Inc. 24,682 137,972 OfficeMax, Inc. 6,519 97,655 Omnicom Group, Inc. 1,941 132,202 * Orbitz Worldwide, Inc. 4,361 40,296 * Orient-Express Hotels, Ltd. Class A 7,773 103,459 #* Outerwall, Inc. 2,385 154,977 * Overstock.com, Inc. 945 22,141 Oxford Industries, Inc. 1,500 107,655 * Pacific Sunwear of California, Inc. 4,200 11,298 * Panera Bread Co. Class A 200 31,584 Papa John's International, Inc. 1,091 82,556 Penske Automotive Group, Inc. 7,775 308,045 * Pep Boys-Manny Moe & Jack (The) 3,200 41,408 * Perfumania Holdings, Inc. 260 1,209 Perry Ellis International, Inc. 1,310 24,903 # PetMed Express, Inc. 1,883 27,944 # PetSmart, Inc. 1,100 80,036 Pier 1 Imports, Inc. 8,159 170,360 # Polaris Industries, Inc. 900 117,855 # Pool Corp. 1,000 54,380 * priceline.com, Inc. 200 210,766 PulteGroup, Inc. 7,148 126,162 PVH Corp. 3,210 399,870 #* Quiksilver, Inc. 15,874 132,072 #* RadioShack Corp. 5,500 15,455 Ralph Lauren Corp. 400 66,256 * Red Lion Hotels Corp. 1,300 7,826 * Red Robin Gourmet Burgers, Inc. 1,136 86,540 # Regal Entertainment Group Class A 3,770 71,668 # Regis Corp. 4,206 60,987 Rent-A-Center, Inc. 5,251 179,794 #* Rentrak Corp. 600 22,494 RG Barry Corp. 1,159 22,114 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Consumer Discretionary -- (Continued) Rocky Brands, Inc. 402 $ 6,094 Ross Stores, Inc. 1,873 144,877 Royal Caribbean Cruises, Ltd. 9,989 419,938 * Ruby Tuesday, Inc. 5,355 31,755 # Ryland Group, Inc. (The) 3,680 147,936 * Saks, Inc. 11,587 185,276 * Sally Beauty Holdings, Inc. 2,585 68,037 Scholastic Corp. 500 14,345 Scripps Networks Interactive, Inc. Class A 1,350 108,675 #* Sears Holdings Corp. 3,515 204,151 * Select Comfort Corp. 2,376 43,528 Service Corp. International/US 18,620 335,346 Shiloh Industries, Inc. 800 13,136 Shoe Carnival, Inc. 1,830 47,562 * Shutterfly, Inc. 3,960 194,594 Signet Jewelers, Ltd. 3,506 261,758 Sinclair Broadcast Group, Inc. Class A 2,200 70,532 Sirius XM Radio, Inc. 19,489 73,474 Six Flags Entertainment Corp. 5,664 213,023 * Skechers U.S.A., Inc. Class A 3,792 110,499 #* Skyline Corp. 400 1,748 Sonic Automotive, Inc. Class A 3,663 81,612 * Sonic Corp. 2,510 48,443 Sotheby's 5,452 282,959 Spartan Motors, Inc. 3,249 22,061 Speedway Motorsports, Inc. 2,279 41,615 # Stage Stores, Inc. 1,633 33,721 # Standard Motor Products, Inc. 2,454 88,737 #* Standard Pacific Corp. 15,972 126,658 * Stanley Furniture Co., Inc. 661 2,571 # Staples, Inc. 25,627 413,107 Starbucks Corp. 4,256 344,949 Starwood Hotels & Resorts Worldwide, Inc. 2,200 161,964 * Starz - Liberty Capital Class A 8,151 245,753 * Starz - Liberty Capital Class B 87 2,629 Stein Mart, Inc. 3,005 44,384 * Steiner Leisure, Ltd. 1,169 65,487 * Steven Madden, Ltd. 5,325 195,321 Stewart Enterprises, Inc. Class A 5,660 74,769 * Stoneridge, Inc. 2,545 32,474 Strayer Education, Inc. 400 15,812 # Sturm Ruger & Co., Inc. 1,000 65,410 Superior Industries International, Inc. 2,981 55,894 Systemax, Inc. 1,842 17,499 Target Corp. 8,382 543,070 #* Tempur-Pedic International, Inc. 1,050 40,267 * Tenneco, Inc. 2,272 120,575 #* Tesla Motors, Inc. 1,830 292,690 Texas Roadhouse, Inc. 7,300 200,166 Thor Industries, Inc. 3,835 222,468 Tiffany & Co. 1,628 128,889 #* Tile Shop Holdings, Inc. 500 11,165 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ ----------- Consumer Discretionary -- (Continued) Time Warner Cable, Inc. 7,128 $ 856,429 Time Warner, Inc. 24,494 1,683,718 TJX Cos., Inc. 4,000 243,160 * Toll Brothers, Inc. 6,851 225,261 * Tower International, Inc. 723 15,342 Town Sports International Holdings, Inc. 1,582 20,439 Tractor Supply Co. 1,874 133,710 Trans World Entertainment Corp. 200 866 * TripAdvisor, Inc. 1,869 154,585 * TRW Automotive Holdings Corp. 5,241 393,652 * Tuesday Morning Corp. 1,700 24,055 Tupperware Brands Corp. 1,250 112,062 Twenty-First Century Fox, Inc. Class A 16,284 554,959 Twenty-First Century Fox, Inc. Class B 3,600 122,400 * Ulta Salon Cosmetics & Fragrance, Inc. 1,000 128,850 #* Under Armour, Inc. Class A 900 73,035 #* Unifi, Inc. 1,402 34,195 * Universal Electronics, Inc. 1,382 53,774 # Universal Technical Institute, Inc. 1,356 18,021 * Urban Outfitters, Inc. 1,800 68,184 * US Auto Parts Network, Inc. 1,256 2,236 Vail Resorts, Inc. 3,704 260,947 # Valassis Communications, Inc. 2,454 67,141 Value Line, Inc. 213 1,987 * Valuevision Media, Inc. Class A 3,340 17,836 VF Corp. 602 129,430 Viacom, Inc. Class A 100 8,355 Viacom, Inc. Class B 3,419 284,769 * Visteon Corp. 4,378 337,500 #* Vitamin Shoppe, Inc. 1,849 86,737 #* VOXX International Corp. 1,300 20,163 Walt Disney Co. (The) 22,247 1,525,922 Washington Post Co. (The) Class B 700 450,324 Weight Watchers International, Inc. 800 25,688 Wendy's Co. (The) 34,658 301,178 * West Marine, Inc. 1,553 18,962 * Wet Seal, Inc. (The) Class A 5,000 16,550 Weyco Group, Inc. 47 1,350 Whirlpool Corp. 3,520 513,955 Williams-Sonoma, Inc. 1,350 70,794 Winmark Corp. 200 14,642 * Winnebago Industries, Inc. 3,180 94,319 Wolverine World Wide, Inc. 3,011 173,855 World Wrestling Entertainment, Inc. Class A 1,000 12,950 Wyndham Worldwide Corp. 5,000 332,000 Yum! Brands, Inc. 2,000 135,240 #* Zagg, Inc. 1,449 6,868 * Zale Corp. 2,942 45,983 #* Zumiez, Inc. 3,207 95,055 ----------- Total Consumer Discretionary 57,704,274 ----------- U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Consumer Staples -- (4.9%) # Alico, Inc. 422 $ 16,863 Andersons, Inc. (The) 1,714 127,144 Avon Products, Inc. 2,400 42,000 B&G Foods, Inc. 4,472 151,377 * Boulder Brands, Inc. 5,333 87,408 Bunge, Ltd. 7,830 643,078 Cal-Maine Foods, Inc. 2,015 102,221 Calavo Growers, Inc. 1,314 39,013 # Campbell Soup Co. 3,174 135,117 Casey's General Stores, Inc. 3,160 230,301 * Central Garden and Pet Co. 800 6,072 * Central Garden and Pet Co. Class A 2,700 19,872 * Chiquita Brands International, Inc. 3,325 34,414 # Clorox Co. (The) 1,577 142,230 # Coca-Cola Bottling Co. Consolidated 556 35,206 Coca-Cola Co. (The) 30,800 1,218,756 Coca-Cola Enterprises, Inc. 10,800 450,684 Colgate-Palmolive Co. 5,371 347,665 ConAgra Foods, Inc. 15,379 489,206 Costco Wholesale Corp. 3,227 380,786 CVS Caremark Corp. 31,331 1,950,668 * Darling International, Inc. 11,839 275,493 * Dean Foods Co. 9,594 187,083 #* Diamond Foods, Inc. 1,200 29,292 * Dole Food Co., Inc. 6,460 87,533 Dr Pepper Snapple Group, Inc. 4,442 210,329 #* Elizabeth Arden, Inc. 2,188 79,184 Energizer Holdings, Inc. 3,067 300,903 Estee Lauder Cos., Inc. (The) Class A 1,000 70,960 * Farmer Bros Co. 1,692 30,557 Flowers Foods, Inc. 6,595 167,117 Fresh Del Monte Produce, Inc. 4,360 115,932 * Fresh Market, Inc. (The) 2,400 122,184 General Mills, Inc. 4,689 236,419 #* Green Mountain Coffee Roasters, Inc. 1,879 118,020 * Hain Celestial Group, Inc. (The) 3,100 258,013 Harris Teeter Supermarkets, Inc. 4,779 235,700 # Herbalife, Ltd. 1,000 64,820 Hillshire Brands Co. 2,816 92,449 Hormel Foods Corp. 2,636 114,561 Ingles Markets, Inc. Class A 871 22,480 Ingredion, Inc. 4,400 289,344 Inter Parfums, Inc. 3,000 105,480 J&J Snack Foods Corp. 1,284 109,872 JM Smucker Co. (The) 4,049 450,289 John B Sanfilippo & Son, Inc. 600 14,748 Kellogg Co. 1,200 75,900 Kimberly-Clark Corp. 1,973 213,084 Kraft Foods Group, Inc. 3,233 175,811 Kroger Co. (The) 3,700 158,508 Lancaster Colony Corp. 2,193 181,997 Lifeway Foods, Inc. 300 4,389 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ ----------- Consumer Staples -- (Continued) * Mannatech, Inc. 40 $ 944 # McCormick & Co., Inc.(579780107) 90 6,126 McCormick & Co., Inc.(579780206) 1,351 93,422 Mead Johnson Nutrition Co. 1,483 121,102 * Medifast, Inc. 1,258 29,324 Mondelez International, Inc. Class A 48,216 1,621,986 * Monster Beverage Corp. 2,029 116,120 Nash Finch Co. 700 19,642 National Beverage Corp. 1,434 26,257 Nu Skin Enterprises, Inc. Class A 900 105,237 Nutraceutical International Corp. 500 12,025 Oil-Dri Corp. of America 300 10,647 * Omega Protein Corp. 1,690 15,818 # Orchids Paper Products Co. 98 2,989 * Pantry, Inc. (The) 1,645 22,027 PepsiCo, Inc. 12,539 1,054,404 * Pilgrim's Pride Corp. 8,940 126,680 * Post Holdings, Inc. 3,056 131,255 * Prestige Brands Holdings, Inc. 5,298 165,457 # Pricesmart, Inc. 500 56,895 Procter & Gamble Co. (The) 38,323 3,094,582 * Revlon, Inc. Class A 2,472 58,710 * Rite Aid Corp. 19,981 106,499 Rocky Mountain Chocolate Factory, Inc. 400 5,072 Safeway, Inc. 10,718 374,058 Sanderson Farms, Inc. 1,600 101,136 * Seneca Foods Corp. Class A 600 17,592 Snyders-Lance, Inc. 5,772 173,102 Spartan Stores, Inc. 1,560 36,707 Spectrum Brands Holdings, Inc. 4,780 315,098 #* Susser Holdings Corp. 2,380 130,519 # Sysco Corp. 4,394 142,102 # Tootsie Roll Industries, Inc. 2,314 74,048 * TreeHouse Foods, Inc. 3,372 247,033 Tyson Foods, Inc. Class A 15,018 415,548 * United Natural Foods, Inc. 2,500 178,625 * USANA Health Sciences, Inc. 1,200 81,876 Village Super Market, Inc. Class A 548 20,090 Walgreen Co. 12,504 740,737 WD-40 Co. 900 65,241 Weis Markets, Inc. 1,778 90,980 * WhiteWave Foods Co. Class A 4,210 84,242 Whole Foods Market, Inc. 1,800 113,634 ----------- Total Consumer Staples 21,654,120 ----------- Energy -- (12.4%) Adams Resources & Energy, Inc. 317 16,411 Alon USA Energy, Inc. 4,953 59,832 #* Alpha Natural Resources, Inc. 14,527 101,689 Anadarko Petroleum Corp. 14,242 1,357,120 Apache Corp. 10,290 913,752 #* Approach Resources, Inc. 1,880 52,922 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Energy -- (Continued) # Arch Coal, Inc. 5,856 $ 24,829 * Atwood Oceanics, Inc. 5,597 297,369 Baker Hughes, Inc. 11,739 681,918 #* Basic Energy Services, Inc. 3,797 55,702 Berry Petroleum Co. Class A 2,865 136,804 #* Bill Barrett Corp. 3,669 101,521 Bolt Technology Corp. 600 10,734 #* Bonanza Creek Energy, Inc. 4,334 219,040 #* BPZ Resources, Inc. 8,963 18,016 Bristow Group, Inc. 2,743 220,729 #* C&J Energy Services, Inc. 4,789 110,339 Cabot Oil & Gas Corp. 5,200 183,664 #* Cal Dive International, Inc. 1,016 2,001 * Callon Petroleum Co. 3,100 21,173 * Cameron International Corp. 3,800 208,468 # CARBO Ceramics, Inc. 2,000 250,680 #* Carrizo Oil & Gas, Inc. 4,245 186,101 * Cheniere Energy, Inc. 5,300 210,940 Chesapeake Energy Corp. 34,993 978,404 Chevron Corp. 49,778 5,971,369 Cimarex Energy Co. 4,336 456,798 * Clayton Williams Energy, Inc. 900 70,047 #* Clean Energy Fuels Corp. 6,207 70,698 * Cloud Peak Energy, Inc. 5,067 79,096 * Cobalt International Energy, Inc. 3,855 89,475 # Comstock Resources, Inc. 4,683 80,126 * Concho Resources, Inc. 2,628 290,683 ConocoPhillips 30,244 2,216,885 CONSOL Energy, Inc. 7,900 288,350 Contango Oil & Gas Co. 1,101 47,185 #* Continental Resources, Inc. 400 45,560 Core Laboratories NV 500 93,610 Crosstex Energy, Inc. 3,227 99,037 * Dawson Geophysical Co. 600 17,544 Delek US Holdings, Inc. 5,286 135,057 * Denbury Resources, Inc. 18,784 356,708 Devon Energy Corp. 10,148 641,557 # Diamond Offshore Drilling, Inc. 4,336 268,528 * Double Eagle Petroleum Co. 600 1,668 * Dresser-Rand Group, Inc. 1,722 104,646 * Dril-Quip, Inc. 1,546 181,531 * Emerald Oil, Inc. 3,042 26,465 #* Endeavour International Corp. 2,609 15,497 Energen Corp. 1,996 156,327 # Energy XXI Bermuda, Ltd. 4,432 128,794 * ENGlobal Corp. 1,300 1,430 EOG Resources, Inc. 6,322 1,127,845 * EPL Oil & Gas, Inc. 3,869 123,344 EQT Corp. 1,923 164,628 * Era Group, Inc. 1,688 53,341 * Evolution Petroleum Corp. 900 10,854 * Exterran Holdings, Inc. 6,071 173,327 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Energy -- (Continued) Exxon Mobil Corp. 125,869 $11,280,380 * FieldPoint Petroleum Corp. 100 480 * FMC Technologies, Inc. 3,171 160,294 * Geospace Technologies Corp. 600 58,452 #* Gevo, Inc. 415 705 #* Global Geophysical Services, Inc. 2,129 5,088 * Goodrich Petroleum Corp. 528 12,350 Green Plains Renewable Energy, Inc. 2,274 36,680 * Gulf Coast Ultra Deep Royalty Trust 12,505 30,262 Gulf Island Fabrication, Inc. 1,358 34,249 Gulfmark Offshore, Inc. Class A 1,928 95,976 * Gulfport Energy Corp. 3,229 189,510 #* Halcon Resources Corp. 24,970 129,345 Halliburton Co. 14,716 780,389 #* Harvest Natural Resources, Inc. 4,100 20,500 * Helix Energy Solutions Group, Inc. 9,213 217,980 # Helmerich & Payne, Inc. 5,370 416,443 * Hercules Offshore, Inc. 13,737 93,412 Hess Corp. 7,612 618,094 HollyFrontier Corp. 10,348 476,629 * Hornbeck Offshore Services, Inc. 2,781 153,706 #* ION Geophysical Corp. 10,968 50,891 #* James River Coal Co. 1,300 2,496 #* Key Energy Services, Inc. 8,901 69,606 Kinder Morgan, Inc. 15,250 538,477 * Kodiak Oil & Gas Corp. 14,996 194,498 * Laredo Petroleum Holdings, Inc. 475 15,091 #* Magnum Hunter Resources Corp. 7,316 52,163 Marathon Oil Corp. 16,144 569,237 Marathon Petroleum Corp. 9,002 645,083 * Matador Resources Co. 6,992 128,723 * Matrix Service Co. 2,700 56,133 * McDermott International, Inc. 15,569 110,073 * Mitcham Industries, Inc. 900 14,976 Murphy Oil Corp. 10,185 614,359 Nabors Industries, Ltd. 18,389 321,440 National Oilwell Varco, Inc. 10,918 886,323 * Natural Gas Services Group, Inc. 1,108 31,013 * Newfield Exploration Co. 7,284 221,798 * Newpark Resources, Inc. 8,826 112,531 Noble Corp. 12,988 489,648 Noble Energy, Inc. 10,198 764,136 # Nordic American Tankers, Ltd. 168 1,371 #* Northern Oil and Gas, Inc. 2,700 44,361 #* Nuverra Environmental Solutions, Inc. 13,524 32,999 * Oasis Petroleum, Inc. 3,156 168,057 Occidental Petroleum Corp. 27,014 2,595,505 Oceaneering International, Inc. 1,148 98,590 * Oil States International, Inc. 2,554 277,441 #* Overseas Shipholding Group, Inc. 1,675 5,779 * Pacific Drilling SA 3,051 34,690 Panhandle Oil and Gas, Inc. Class A 600 20,142 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Energy -- (Continued) * Parker Drilling Co. 8,879 $ 63,929 Patterson-UTI Energy, Inc. 12,755 309,436 * PDC Energy, Inc. 3,256 220,789 Peabody Energy Corp. 13,163 256,415 * Penn Virginia Corp. 4,549 38,712 * PetroQuest Energy, Inc. 5,703 26,918 * PHI, Inc. 908 36,157 Phillips 66 17,282 1,113,479 * Pioneer Energy Services Corp. 5,857 49,199 Pioneer Natural Resources Co. 3,405 697,276 * PostRock Energy Corp. 100 146 QEP Resources, Inc. 8,093 267,555 Range Resources Corp. 1,930 146,120 * Renewable Energy Group, Inc. 735 8,019 Rentech, Inc. 5,699 9,745 #* Rex Energy Corp. 5,942 127,753 * RigNet, Inc. 1,558 57,428 * Rosetta Resources, Inc. 3,594 215,424 * Rowan Cos. P.L.C. Class A 9,249 333,704 # RPC, Inc. 8,850 162,309 #* SandRidge Energy, Inc. 23,137 146,689 Scorpio Tankers, Inc. 951 10,975 SEACOR Holdings, Inc. 1,688 165,086 SemGroup Corp. Class A 4,251 256,718 Ship Finance International, Ltd. 6,632 109,760 SM Energy Co. 4,655 412,480 * Southwestern Energy Co. 9,796 364,607 Spectra Energy Corp. 3,706 131,822 * Stone Energy Corp. 5,053 176,148 * Superior Energy Services, Inc. 13,677 366,954 #* Swift Energy Co. 2,735 37,524 * Synergy Resources Corp. 5,574 57,747 Targa Resources Corp. 1,400 108,584 Teekay Corp. 5,211 226,314 * Tesco Corp. 2,624 45,080 Tesoro Corp. 7,560 369,608 * TETRA Technologies, Inc. 8,049 104,396 TGC Industries, Inc. 1,518 11,188 Tidewater, Inc. 3,471 209,024 # Transocean, Ltd. 8,707 409,838 * Triangle Petroleum Corp. 6,897 72,901 #* Ultra Petroleum Corp. 4,272 78,434 * Unit Corp. 4,431 227,798 #* Uranium Energy Corp. 866 1,524 #* USEC, Inc. 184 1,483 #* Vaalco Energy, Inc. 4,700 24,769 Valero Energy Corp. 14,251 586,714 # W&T Offshore, Inc. 7,431 141,858 * Warren Resources, Inc. 5,300 16,589 #* Weatherford International, Ltd. 38,430 631,789 # Western Refining, Inc. 7,565 244,123 * Westmoreland Coal Co. 100 1,421 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Energy -- (Continued) * Whiting Petroleum Corp. 5,729 $ 383,213 * Willbros Group, Inc. 4,078 39,801 Williams Cos., Inc. (The) 6,702 239,328 World Fuel Services Corp. 6,100 232,715 #* WPX Energy, Inc. 10,818 239,510 ----------- Total Energy 55,011,747 ----------- Financials -- (22.0%) 1st Source Corp. 1,800 56,484 1st United Bancorp Inc/Boca Raton 1,593 12,171 ACE, Ltd. 8,773 837,295 * Affiliated Managers Group, Inc. 2,100 414,624 Aflac, Inc. 11,653 757,212 * Alexander & Baldwin, Inc. 4,289 158,693 * Alleghany Corp. 903 366,094 Allied World Assurance Co. Holdings AG 2,911 315,232 Allstate Corp. (The) 12,654 671,421 * Altisource Asset Management Corp. 75 47,976 * Altisource Portfolio Solutions SA 756 118,904 * American Capital, Ltd. 26,965 377,780 # American Equity Investment Life Holding Co. 4,529 94,384 American Express Co. 7,300 597,140 American Financial Group, Inc. 7,928 446,029 American International Group, Inc. 45,492 2,349,662 American National Insurance Co. 1,942 196,278 Ameriprise Financial, Inc. 6,445 647,980 * Ameris Bancorp 1,761 32,226 AMERISAFE, Inc. 1,338 51,513 # AmeriServ Financial, Inc. 300 942 # Amtrust Financial Services, Inc. 6,353 243,701 Aon P.L.C. 3,700 292,633 * Arch Capital Group, Ltd. 6,938 402,126 Argo Group International Holdings, Ltd. 1,925 80,812 Arrow Financial Corp. 890 22,971 Arthur J Gallagher & Co. 4,972 235,921 Aspen Insurance Holdings, Ltd. 4,935 192,514 Associated Banc-Corp. 12,191 198,226 Assurant, Inc. 7,350 429,828 Assured Guaranty, Ltd. 14,403 295,261 Asta Funding, Inc. 707 6,066 # Astoria Financial Corp. 8,659 114,385 #* Atlanticus Holdings Corp. 886 3,092 * AV Homes, Inc. 800 15,280 Axis Capital Holdings, Ltd. 7,521 356,646 Baldwin & Lyons, Inc. Class B 900 24,597 # Banc of California, Inc. 500 7,055 # Bancfirst Corp. 940 52,236 * Bancorp, Inc. 3,613 58,422 # BancorpSouth, Inc. 9,490 209,729 Bank Mutual Corp. 3,171 20,168 Bank of America Corp. 311,564 4,349,433 Bank of Commerce Holdings 300 1,650 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Financials -- (Continued) # Bank of Hawaii Corp. 4,732 $ 274,361 Bank of New York Mellon Corp. (The) 38,950 1,238,610 Bank of the Ozarks, Inc. 3,400 168,232 BankFinancial Corp. 1,124 10,442 BankUnited, Inc. 7,941 244,345 Banner Corp. 2,038 77,974 Bar Harbor Bankshares 27 1,019 BB&T Corp. 18,673 634,322 BBCN Bancorp, Inc. 7,097 105,249 * Beneficial Mutual Bancorp, Inc. 5,210 50,798 * Berkshire Hathaway, Inc. Class B 16,445 1,892,491 Berkshire Hills Bancorp, Inc. 1,648 41,810 BGC Partners, Inc. Class A 11,384 60,563 BlackRock, Inc. 3,388 1,019,144 * BofI Holding, Inc. 900 54,378 BOK Financial Corp. 3,080 188,588 Boston Private Financial Holdings, Inc. 6,453 73,500 Brookline Bancorp, Inc. 5,953 52,803 Brown & Brown, Inc. 11,540 368,472 Bryn Mawr Bank Corp. 1,000 27,860 Calamos Asset Management, Inc. Class A 1,542 15,142 Camden National Corp. 553 22,314 Cape Bancorp, Inc. 300 2,763 * Capital Bank Financial Corp. Class A 64 1,422 * Capital City Bank Group, Inc. 900 11,070 Capital One Financial Corp. 19,441 1,335,013 Capital Southwest Corp. 400 13,148 CapitalSource, Inc. 18,722 244,884 Capitol Federal Financial, Inc. 14,898 188,758 Cardinal Financial Corp. 2,617 43,181 # Cash America International, Inc. 2,741 108,132 Cathay General Bancorp 7,725 190,267 CBOE Holdings, Inc. 1,603 77,746 * CBRE Group, Inc. Class A 3,700 85,951 Center Bancorp, Inc. 980 14,661 Centerstate Banks, Inc. 1,997 19,690 # Central Pacific Financial Corp. 2,177 40,100 Charles Schwab Corp. (The) 14,375 325,594 Chemical Financial Corp. 2,448 71,702 Chubb Corp. (The) 7,426 683,786 Cincinnati Financial Corp. 8,379 418,950 * CIT Group, Inc. 10,353 498,600 Citigroup, Inc. 96,881 4,725,855 Citizens Holding Co. 160 3,059 #* Citizens, Inc. 3,580 30,072 City Holding Co. 1,300 59,150 City National Corp. 4,076 293,920 Clifton Savings Bancorp, Inc. 1,500 18,945 CME Group, Inc. 8,053 597,613 CNA Financial Corp. 2,259 91,693 CNB Financial Corp. 590 11,806 CNO Financial Group, Inc. 17,267 269,020 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Financials -- (Continued) # CoBiz Financial, Inc. 3,215 $ 34,883 # Cohen & Steers, Inc. 914 35,061 Columbia Banking System, Inc. 4,201 107,924 Comerica, Inc. 9,504 411,523 Commerce Bancshares, Inc. 8,308 382,251 # Community Bank System, Inc. 4,081 148,181 * Community Bankers Trust Corp. 100 373 # Community Trust Bancorp, Inc. 1,298 55,282 Consolidated-Tomoka Land Co. 300 11,256 * Consumer Portfolio Services, Inc. 1,096 7,365 * Cowen Group, Inc. Class A 4,766 18,921 Crawford & Co. Class A 900 7,497 Crawford & Co. Class B 2,209 24,277 * Credit Acceptance Corp. 737 87,187 # Cullen/Frost Bankers, Inc. 5,496 389,062 CVB Financial Corp. 10,411 151,376 * DFC Global Corp. 4,301 52,042 Diamond Hill Investment Group, Inc. 60 6,616 Dime Community Bancshares, Inc. 3,585 58,651 Discover Financial Services 6,317 327,726 Donegal Group, Inc. Class A 1,577 24,995 #* Doral Financial Corp. 120 2,028 #* E*TRADE Financial Corp. 26,518 448,419 East West Bancorp, Inc. 13,183 444,135 Eastern Insurance Holdings, Inc. 255 6,232 Eaton Vance Corp. 2,058 86,045 #* eHealth, Inc. 1,477 62,950 EMC Insurance Group, Inc. 651 22,160 Employers Holdings, Inc. 2,963 89,097 #* Encore Capital Group, Inc. 2,316 113,137 Endurance Specialty Holdings, Ltd. 4,248 234,872 #* Enstar Group, Ltd. 1,015 137,969 Enterprise Financial Services Corp. 1,162 20,951 Erie Indemnity Co. Class A 1,500 107,730 # ESB Financial Corp. 498 6,628 ESSA Bancorp, Inc. 800 8,768 Evercore Partners, Inc. Class A 2,800 141,316 Everest Re Group, Ltd. 2,884 443,386 * Ezcorp, Inc. Class A 3,136 49,329 FBL Financial Group, Inc. Class A 1,900 85,006 Federal Agricultural Mortgage Corp. Class C 900 32,121 # Federated Investors, Inc. Class B 5,290 143,465 Fidelity National Financial, Inc. Class A 11,637 327,582 Fidelity Southern Corp. 665 10,157 Fifth Third Bancorp 30,337 577,313 Financial Engines, Inc. 276 15,420 Financial Institutions, Inc. 944 22,344 * First Acceptance Corp. 900 1,530 First American Financial Corp. 9,336 241,429 * First BanCorp 4,411 24,481 First Bancorp 1,100 16,478 First Bancorp, Inc. 181 3,151 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Financials -- (Continued) First Busey Corp. 6,162 $ 31,858 #* First Cash Financial Services, Inc. 2,437 147,414 First Citizens BancShares, Inc. Class A 337 71,353 First Commonwealth Financial Corp. 8,831 76,741 First Community Bancshares, Inc. 1,200 20,028 First Connecticut Bancorp Inc/Farmington 711 10,437 First Defiance Financial Corp. 674 17,403 First Financial Bancorp 5,027 78,019 # First Financial Bankshares, Inc. 2,292 140,981 First Financial Corp. 1,038 35,853 First Financial Holdings, Inc. 1,571 94,150 # First Financial Northwest, Inc. 1,000 10,840 First Horizon National Corp. 20,764 221,137 First Interstate Bancsystem, Inc. 877 22,021 * First Marblehead Corp. (The) 300 288 First Merchants Corp. 2,666 50,121 First Midwest Bancorp, Inc. 6,291 104,619 First Niagara Financial Group, Inc. 32,449 357,912 First Republic Bank 4,611 235,484 * First South Bancorp, Inc. 100 676 FirstMerit Corp. 11,254 252,765 Flushing Financial Corp. 2,159 43,374 FNB Corp. 14,269 178,505 * Forest City Enterprises, Inc. Class A 15,624 316,542 * Forestar Group, Inc. 3,415 76,257 Fox Chase Bancorp, Inc. 906 15,647 Franklin Resources, Inc. 4,080 219,749 Fulton Financial Corp. 20,201 246,654 # FXCM, Inc. Class A 3,568 58,480 Gain Capital Holdings, Inc. 56 586 GAMCO Investors, Inc. Class A 400 28,604 * Genworth Financial, Inc. Class A 30,352 441,015 German American Bancorp, Inc. 1,018 27,669 GFI Group, Inc. 9,133 31,692 Glacier Bancorp, Inc. 7,284 201,257 * Global Indemnity P.L.C. 1,457 35,886 Goldman Sachs Group, Inc. (The) 11,096 1,784,903 Great Southern Bancorp, Inc. 967 27,153 * Green Dot Corp. Class A 2,677 57,448 Greenhill & Co., Inc. 1,209 62,022 #* Greenlight Capital Re, Ltd. Class A 2,800 86,212 Guaranty Bancorp 260 3,510 * Hallmark Financial Services, Inc. 1,226 10,433 Hancock Holding Co. 6,490 212,742 Hanmi Financial Corp. 3,114 54,433 Hanover Insurance Group, Inc. (The) 3,761 220,169 * Harris & Harris Group, Inc. 1,900 5,947 Hartford Financial Services Group, Inc. 25,028 843,444 HCC Insurance Holdings, Inc. 8,986 410,211 # HCI Group, Inc. 1,345 59,099 Heartland Financial USA, Inc. 1,412 37,404 Heritage Commerce Corp. 1,500 11,685 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Financials -- (Continued) Heritage Financial Corp. 916 $ 14,775 Heritage Financial Group, Inc. 299 5,137 HFF, Inc. Class A 2,015 49,468 * Hilltop Holdings, Inc. 8,119 140,783 * Home Bancorp, Inc. 500 9,085 # Home BancShares, Inc. 5,809 196,809 Home Federal Bancorp, Inc. 1,034 16,120 HopFed Bancorp, Inc. 6 65 Horace Mann Educators Corp. 3,333 92,324 Horizon Bancorp 450 9,770 * Howard Hughes Corp. (The) 3,700 433,085 Hudson City Bancorp, Inc. 25,524 229,206 Hudson Valley Holding Corp. 983 18,176 Huntington Bancshares, Inc. 42,414 373,243 # Iberiabank Corp. 2,289 133,746 * ICG Group, Inc. 3,148 51,344 * Imperial Holdings, Inc. 33 193 Independence Holding Co. 330 4,528 # Independent Bank Corp.(453836108) 1,890 67,813 * Independent Bank Corp.(453838609) 40 389 Interactive Brokers Group, Inc. Class A 4,666 96,260 #* IntercontinentalExchange, Inc. 2,943 567,204 International Bancshares Corp. 4,874 111,371 #* Intervest Bancshares Corp. Class A 850 6,197 #* INTL. FCStone, Inc. 1,274 26,066 Invesco, Ltd. 20,809 702,304 * Investment Technology Group, Inc. 2,400 38,448 Investors Bancorp, Inc. 8,659 205,305 # Janus Capital Group, Inc. 18,711 184,678 JMP Group, Inc. 1,310 8,397 Jones Lang LaSalle, Inc. 3,267 311,018 JPMorgan Chase & Co. 113,803 5,865,407 * KCG Holdings, Inc. Class A 647 5,655 #* Kearny Financial Corp. 2,195 23,048 Kemper Corp. 4,518 167,256 Kennedy-Wilson Holdings, Inc. 7,113 142,545 KeyCorp 50,594 633,943 # Lakeland Bancorp, Inc. 2,052 23,393 Lakeland Financial Corp. 1,443 51,356 # Legg Mason, Inc. 11,042 424,786 Life Partners Holdings, Inc. 1,000 2,020 Lincoln National Corp. 14,837 673,748 LNB Bancorp, Inc. 500 4,865 # Loews Corp. 8,609 415,901 #* Louisiana Bancorp, Inc. 100 1,790 LPL Financial Holdings, Inc. 4,601 187,445 M&T Bank Corp. 7,257 816,630 * Macatawa Bank Corp. 1,400 6,874 Maiden Holdings, Ltd. 5,000 54,750 MainSource Financial Group, Inc. 1,400 22,708 Manning & Napier, Inc. 562 9,329 * Markel Corp. 794 420,558 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Financials -- (Continued) MarketAxess Holdings, Inc. 2,293 $ 149,572 Marlin Business Services Corp. 680 18,748 Marsh & McLennan Cos., Inc. 3,678 168,452 # MB Financial, Inc. 5,662 168,161 * MBIA, Inc. 19,349 219,998 * MBT Financial Corp. 145 557 MCG Capital Corp. 6,000 28,260 McGraw-Hill Cos., Inc. (The) 1,140 79,435 Meadowbrook Insurance Group, Inc. 2,627 17,443 Medallion Financial Corp. 1,523 23,119 Mercantile Bank Corp. 625 13,650 Merchants Bancshares, Inc. 444 13,311 Mercury General Corp. 5,303 246,908 * Meridian Interstate Bancorp, Inc. 1,162 27,586 MetLife, Inc. 30,070 1,422,612 * Metro Bancorp, Inc. 900 19,206 * MGIC Investment Corp. 12,754 103,818 MidSouth Bancorp, Inc. 600 9,108 Montpelier Re Holdings, Ltd. 4,472 123,472 Moody's Corp. 2,500 176,650 Morgan Stanley 37,519 1,077,921 * MSCI, Inc. 8,283 337,698 NASDAQ OMX Group, Inc. (The) 10,311 365,319 # National Interstate Corp. 1,011 26,417 National Penn Bancshares, Inc. 15,874 164,613 * Navigators Group, Inc. (The) 900 50,616 NBT Bancorp, Inc. 3,211 78,252 Nelnet, Inc. Class A 3,237 137,993 # New Hampshire Thrift Bancshares, Inc. 300 4,260 # New York Community Bancorp, Inc. 25,831 418,721 * NewBridge Bancorp 500 3,730 * NewStar Financial, Inc. 3,876 67,481 Nicholas Financial, Inc. 82 1,316 Northeast Community Bancorp, Inc. 436 3,292 Northern Trust Corp. 11,092 625,811 Northfield Bancorp, Inc. 5,307 68,620 Northrim BanCorp, Inc. 400 10,040 Northwest Bancshares, Inc. 9,213 128,890 NYSE Euronext 13,318 586,258 OceanFirst Financial Corp. 1,430 25,154 * Ocwen Financial Corp. 3,436 193,206 OFG Bancorp 4,365 64,646 Old National Bancorp 8,225 119,591 Old Republic International Corp. 23,478 394,196 * OmniAmerican Bancorp, Inc. 994 21,788 OneBeacon Insurance Group, Ltd. Class A 2,219 35,415 Oppenheimer Holdings, Inc. Class A 900 17,847 Oritani Financial Corp. 4,852 78,699 Pacific Continental Corp. 1,246 17,170 PacWest Bancorp 3,089 117,536 Park National Corp. 1,052 83,339 Park Sterling Corp. 2,086 13,580 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Financials -- (Continued) PartnerRe, Ltd. 3,342 $ 334,902 Peapack Gladstone Financial Corp. 69 1,265 Penns Woods Bancorp, Inc. 229 11,725 # People's United Financial, Inc. 28,485 411,039 Peoples Bancorp, Inc. 848 19,012 #* PHH Corp. 5,872 141,222 * Phoenix Cos., Inc. (The) 193 7,444 * PICO Holdings, Inc. 1,698 39,869 #* Pinnacle Financial Partners, Inc. 2,328 72,168 * Piper Jaffray Cos. 1,000 35,890 Platinum Underwriters Holdings, Ltd. 2,634 163,808 PNC Financial Services Group, Inc. (The) 15,356 1,129,127 * Popular, Inc. 8,062 203,565 * Portfolio Recovery Associates, Inc. 4,218 250,760 * Preferred Bank 1,221 23,468 Primerica, Inc. 5,346 229,611 Principal Financial Group, Inc. 15,031 713,371 # PrivateBancorp, Inc. 7,429 180,970 ProAssurance Corp. 5,966 270,379 Progressive Corp. (The) 8,102 210,409 Prosperity Bancshares, Inc. 4,936 308,253 Protective Life Corp. 6,825 314,496 Provident Financial Holdings, Inc. 600 9,096 Provident Financial Services, Inc. 4,366 81,819 Prudential Financial, Inc. 12,120 986,447 # Pulaski Financial Corp. 751 8,178 QC Holdings, Inc. 900 2,115 Radian Group, Inc. 10,400 151,528 Raymond James Financial, Inc. 6,661 304,075 Regions Financial Corp. 72,311 696,355 Reinsurance Group of America, Inc. 6,455 459,467 RenaissanceRe Holdings, Ltd. 3,240 303,620 Renasant Corp. 2,030 58,220 Republic Bancorp, Inc. Class A 1,292 29,742 * Republic First Bancorp, Inc. 1,200 3,780 Resource America, Inc. Class A 852 7,353 * Riverview Bancorp, Inc. 100 266 RLI Corp. 1,838 173,654 Rockville Financial, Inc. 2,137 28,102 #* Roma Financial Corp. 1,502 29,229 S&T Bancorp, Inc. 2,253 55,244 #* Safeguard Scientifics, Inc. 1,663 29,019 Safety Insurance Group, Inc. 1,159 63,386 Sandy Spring Bancorp, Inc. 1,810 44,327 SEI Investments Co. 1,816 60,273 Selective Insurance Group, Inc. 4,634 121,735 SI Financial Group, Inc. 243 2,753 Sierra Bancorp 844 15,977 * Signature Bank 3,863 393,331 Simmons First National Corp. Class A 1,400 45,836 Simplicity Bancorp, Inc. 726 11,384 SLM Corp. 16,850 427,484 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Financials -- (Continued) # Southside Bancshares, Inc. 1,492 $ 40,732 * Southwest Bancorp, Inc. 1,486 23,791 #* St Joe Co. (The) 4,685 87,469 StanCorp Financial Group, Inc. 3,583 211,039 State Auto Financial Corp. 2,212 42,028 State Street Corp. 13,558 950,009 StellarOne Corp. 1,714 39,902 * Sterling Bancorp(859158107) 1,909 28,158 Sterling Bancorp(85917A100) 2,665 31,234 Stewart Information Services Corp. 1,852 58,005 * Stifel Financial Corp. 6,251 255,978 * Suffolk Bancorp 658 12,864 * Sun Bancorp, Inc. 4,675 15,428 SunTrust Banks, Inc. 14,040 472,306 Susquehanna Bancshares, Inc. 18,744 220,898 * SVB Financial Group 3,769 360,995 * SWS Group, Inc. 700 3,941 # SY Bancorp, Inc. 1,000 30,010 Symetra Financial Corp. 6,728 126,015 Synovus Financial Corp. 64,460 209,495 T Rowe Price Group, Inc. 1,300 100,633 * Taylor Capital Group, Inc. 1,781 40,963 TCF Financial Corp. 12,961 196,748 TD Ameritrade Holding Corp. 12,360 336,934 * Tejon Ranch Co. 1,276 47,238 Territorial Bancorp, Inc. 900 19,629 * Texas Capital Bancshares, Inc. 3,704 192,793 TF Financial Corp. 39 1,082 * TFS Financial Corp. 16,138 195,915 Thomas Properties Group, Inc. 4,550 30,940 Tompkins Financial Corp. 1,233 60,812 Torchmark Corp. 4,534 330,347 Tower Group International, Ltd. 3,613 13,115 # TowneBank 2,139 31,144 Travelers Cos., Inc. (The) 10,011 863,949 Tree.com, Inc. 973 28,713 Trico Bancshares 1,059 26,782 TrustCo Bank Corp. 8,924 59,969 Trustmark Corp. 6,690 181,700 U.S. Bancorp 52,652 1,967,079 # UMB Financial Corp. 4,263 251,176 # Umpqua Holdings Corp. 8,401 137,524 # Union First Market Bankshares Corp. 1,764 42,548 # United Bankshares, Inc. 3,736 110,511 * United Community Banks, Inc. 3,504 54,627 * United Community Financial Corp. 2,544 10,176 United Financial Bancorp, Inc. 1,317 20,651 United Fire Group, Inc. 1,591 50,435 * United Security Bancshares 361 1,853 Universal Insurance Holdings, Inc. 4,299 33,704 Univest Corp. of Pennsylvania 1,300 25,961 Unum Group 15,320 486,257 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Financials -- (Continued) Validus Holdings, Ltd. 8,657 $ 341,778 # Valley National Bancorp 14,262 139,054 ViewPoint Financial Group, Inc. 3,435 74,917 * Virginia Commerce Bancorp, Inc. 2,465 39,514 * Virtus Investment Partners, Inc. 100 20,352 Waddell & Reed Financial, Inc. Class A 1,900 117,325 * Walker & Dunlop, Inc. 1,702 22,092 Washington Banking Co. 1,187 20,191 Washington Federal, Inc. 7,836 178,504 # Washington Trust Bancorp, Inc. 1,189 39,106 #* Waterstone Financial, Inc. 1,300 13,832 Webster Financial Corp. 6,786 189,262 Wells Fargo & Co. 129,181 5,514,737 WesBanco, Inc. 2,321 68,237 West BanCorp., Inc. 899 12,424 # Westamerica BanCorp. 1,988 102,342 * Western Alliance Bancorp 6,834 144,539 Westfield Financial, Inc. 1,934 13,944 Westwood Holdings Group, Inc. 360 19,199 Willis Group Holdings P.L.C. 5,006 225,620 Wilshire Bancorp, Inc. 6,648 56,309 Wintrust Financial Corp. 2,581 112,299 #* World Acceptance Corp. 1,200 124,944 WR Berkley Corp. 6,950 305,174 WSFS Financial Corp. 110 7,701 XL Group P.L.C. 15,066 460,568 * Yadkin Financial Corp. 166 2,726 Zions BanCorp. 14,959 424,387 ----------- Total Financials 97,385,295 ----------- Health Care -- (2.8%) Abaxis, Inc. 500 17,865 * ABIOMED, Inc. 79 1,894 #* Accuray, Inc. 5,614 37,895 * Albany Molecular Research, Inc. 2,219 29,069 * Alere, Inc. 7,542 254,392 * Align Technology, Inc. 1,994 113,778 * Allscripts Healthcare Solutions, Inc. 14,312 197,935 AmerisourceBergen Corp. 3,300 215,589 Analogic Corp. 1,079 99,516 * AngioDynamics, Inc. 1,785 28,060 * Anika Therapeutics, Inc. 897 26,793 * ArthroCare Corp. 2,493 93,338 #* athenahealth, Inc. 848 113,216 Atrion Corp. 178 47,558 #* Baxano Surgical, Inc. 1,149 1,390 Becton Dickinson and Co. 400 42,052 * Boston Scientific Corp. 70,303 821,842 * Bovie Medical Corp. 200 512 * Bruker Corp. 5,422 110,880 * Cambrex Corp. 3,800 63,916 Cantel Medical Corp. 3,548 124,535 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Health Care -- (Continued) Cardinal Health, Inc. 4,078 $239,216 * CareFusion Corp. 11,304 438,256 #* Cepheid, Inc. 1,468 59,777 * Cerner Corp. 1,200 67,236 * Charles River Laboratories International, Inc. 4,195 206,436 #* Codexis, Inc. 2,200 3,828 Computer Programs & Systems, Inc. 397 22,645 CONMED Corp. 2,606 94,520 #* Covance, Inc. 3,517 313,927 CR Bard, Inc. 995 135,539 CryoLife, Inc. 1,842 16,560 #* Cutera, Inc. 1,041 10,462 * Cyberonics, Inc. 1,300 75,088 * Cynosure, Inc. Class A 1,466 31,680 DENTSPLY International, Inc. 5,900 277,890 * Digirad Corp. 600 1,998 * Edwards Lifesciences Corp. 1,400 91,266 * Exactech, Inc. 760 17,252 * Greatbatch, Inc. 1,800 68,616 * Haemonetics Corp. 3,784 153,479 * HealthStream, Inc. 733 26,183 * Henry Schein, Inc. 3,073 345,497 Hill-Rom Holdings, Inc. 6,318 260,870 * Hologic, Inc. 14,790 331,148 * ICU Medical, Inc. 1,365 84,357 #* IDEXX Laboratories, Inc. 500 53,930 * Integra LifeSciences Holdings Corp. 2,879 131,801 * Intuitive Surgical, Inc. 200 74,300 Invacare Corp. 2,100 45,087 LeMaitre Vascular, Inc. 800 6,432 * Luminex Corp. 1,922 37,479 Masimo Corp. 3,292 84,341 McKesson Corp. 1,688 263,902 * MedAssets, Inc. 6,271 144,421 * Medical Action Industries, Inc. 700 4,242 * Medidata Solutions, Inc. 924 101,926 Medtronic, Inc. 14,000 803,600 # Meridian Bioscience, Inc. 2,062 50,973 * Merit Medical Systems, Inc. 3,300 52,767 * Mettler-Toledo International, Inc. 400 98,984 * MWI Veterinary Supply, Inc. 616 97,722 * Natus Medical, Inc. 2,472 48,773 * NuVasive, Inc. 3,601 114,440 * Omnicell, Inc. 3,791 87,458 * OraSure Technologies, Inc. 1,425 9,291 * Orthofix International NV 1,246 25,531 # Owens & Minor, Inc. 6,644 248,619 * PAREXEL International Corp. 2,213 101,156 Patterson Cos., Inc. 6,055 257,398 * PharMerica Corp. 1,793 26,465 #* PhotoMedex, Inc. 413 5,220 Quality Systems, Inc. 3,331 76,013 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ ----------- Health Care -- (Continued) * Quidel Corp. 1,711 $ 42,262 # ResMed, Inc. 3,037 157,134 * Rochester Medical Corp. 942 18,821 * RTI Biologics, Inc. 3,864 10,781 * Sirona Dental Systems, Inc. 3,126 225,854 * Solta Medical, Inc. 7,638 14,130 * Spectranetics Corp. 1,700 35,513 St Jude Medical, Inc. 10,752 617,057 * Staar Surgical Co. 600 7,944 STERIS Corp. 5,081 229,610 Stryker Corp. 4,150 306,519 * SurModics, Inc. 300 7,074 * Symmetry Medical, Inc. 3,353 27,159 # Teleflex, Inc. 3,100 285,758 * Thoratec Corp. 5,256 227,007 * Tornier NV 511 10,992 # Utah Medical Products, Inc. 296 16,475 * Varian Medical Systems, Inc. 1,000 72,580 * Vascular Solutions, Inc. 2,112 41,437 * Waters Corp. 1,300 131,196 West Pharmaceutical Services, Inc. 5,622 271,824 * Wright Medical Group, Inc. 3,960 107,593 Zimmer Holdings, Inc. 6,319 552,723 ----------- Total Health Care 12,285,465 ----------- Industrials -- (12.1%) 3M Co. 4,805 604,709 AAON, Inc. 2,880 77,789 AAR Corp. 3,317 97,122 ABM Industries, Inc. 5,652 155,487 # Acacia Research Corp. 4,008 60,481 * ACCO Brands Corp. 4,130 24,161 * Accuride Corp. 1,372 6,174 Aceto Corp. 2,579 41,135 # Acorn Energy, Inc. 1,200 4,512 Actuant Corp. Class A 5,651 212,252 # Acuity Brands, Inc. 1,655 166,344 # ADT Corp. (The) 9,356 405,770 * Advisory Board Co. (The) 1,000 68,600 * AECOM Technology Corp. 9,552 303,563 * Aegion Corp. 3,771 77,305 AGCO Corp. 4,569 266,738 * Air Transport Services Group, Inc. 4,074 29,496 Aircastle, Ltd. 3,400 64,158 Alamo Group, Inc. 900 42,471 Alaska Air Group, Inc. 5,900 416,894 # Albany International Corp. Class A 2,900 106,749 Allegiant Travel Co. 1,650 172,045 Allied Motion Technologies, Inc. 400 3,820 Altra Holdings, Inc. 3,013 91,505 AMERCO 1,427 288,154 * Ameresco, Inc. Class A 1,816 18,995 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Industrials -- (Continued) # American Railcar Industries, Inc. 1,731 $ 70,902 American Science & Engineering, Inc. 700 46,046 * American Woodmark Corp. 1,228 41,654 AMETEK, Inc. 2,858 136,698 Ampco-Pittsburgh Corp. 500 9,205 AO Smith Corp. 5,500 284,075 Apogee Enterprises, Inc. 2,835 88,679 Applied Industrial Technologies, Inc. 3,412 161,422 * ARC Document Solutions, Inc. 2,986 18,633 Argan, Inc. 831 18,490 Arkansas Best Corp. 1,800 49,266 * Armstrong World Industries, Inc. 1,710 91,365 Astec Industries, Inc. 2,062 69,716 * Astronics Corp. 805 39,493 * Astronics Corp. Class B 161 7,775 * Atlas Air Worldwide Holdings, Inc. 2,284 84,577 * Avis Budget Group, Inc. 10,622 332,787 AZZ, Inc. 2,433 109,242 * B/E Aerospace, Inc. 4,444 360,675 Baltic Trading, Ltd. 800 3,584 Barnes Group, Inc. 4,970 176,634 Barrett Business Services, Inc. 700 58,289 * Beacon Roofing Supply, Inc. 4,820 167,302 Belden, Inc. 4,262 286,662 * Blount International, Inc. 2,344 28,550 * BlueLinx Holdings, Inc. 3,787 7,044 Brady Corp. Class A 4,124 120,380 * Breeze-Eastern Corp. 497 4,635 # Briggs & Stratton Corp. 3,200 58,688 Brink's Co. (The) 3,353 105,284 * Builders FirstSource, Inc. 2,395 17,747 * CAI International, Inc. 1,816 39,752 Carlisle Cos., Inc. 4,095 297,625 * Casella Waste Systems, Inc. Class A 1,900 11,229 * CBIZ, Inc. 2,941 23,999 CDI Corp. 1,400 22,470 # Ceco Environmental Corp. 1,371 24,198 Celadon Group, Inc. 2,400 44,496 # CH Robinson Worldwide, Inc. 700 41,818 #* Chart Industries, Inc. 1,800 193,446 Chicago Bridge & Iron Co. NV 2,082 154,255 Cintas Corp. 4,500 241,965 CIRCOR International, Inc. 1,865 137,581 CLARCOR, Inc. 1,441 84,270 * Clean Harbors, Inc. 1,400 86,450 * CNH Industrial NV 2,568 30,123 Coleman Cable, Inc. 600 14,760 * Colfax Corp. 7,826 437,943 * Columbus McKinnon Corp. 1,655 43,047 Comfort Systems USA, Inc. 2,727 50,804 * Commercial Vehicle Group, Inc. 1,100 8,657 Con-way, Inc. 4,471 184,205 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Industrials -- (Continued) * Consolidated Graphics, Inc. 832 $ 53,323 Copa Holdings SA Class A 574 85,836 * Copart, Inc. 2,900 93,467 Corporate Executive Board Co. (The) 1,100 80,190 * Costa, Inc. 280 5,634 Courier Corp. 900 15,291 Covanta Holding Corp. 12,472 214,144 * Covenant Transportation Group, Inc. Class A 500 3,265 * CPI Aerostructures, Inc. 400 4,960 * CRA International, Inc. 600 11,430 Crane Co. 2,255 143,192 CSX Corp. 29,531 769,578 Cummins, Inc. 1,200 152,424 Curtiss-Wright Corp. 4,512 224,607 Danaher Corp. 7,510 541,396 Deere & Co. 2,000 163,680 Delta Air Lines, Inc. 11,100 292,818 Deluxe Corp. 4,032 189,867 * Dolan Co. (The) 1,985 5,101 Donaldson Co., Inc. 1,883 74,586 Douglas Dynamics, Inc. 1,694 25,698 Dover Corp. 6,676 612,790 * Ducommun, Inc. 789 19,615 Dun & Bradstreet Corp. (The) 1,341 145,887 #* DXP Enterprises, Inc. 1,200 110,280 * Dycom Industries, Inc. 3,315 98,290 Dynamic Materials Corp. 900 19,890 #* Eagle Bulk Shipping, Inc. 75 417 Eastern Co. (The) 312 5,164 Eaton Corp. P.L.C. 15,101 1,065,527 #* Echo Global Logistics, Inc. 1,178 21,687 EMCOR Group, Inc. 5,809 215,282 Emerson Electric Co. 5,619 376,304 Encore Wire Corp. 2,116 104,805 #* Energy Recovery, Inc. 3,500 20,440 * EnerNOC, Inc. 3,307 54,995 EnerSys, Inc. 4,945 328,101 * Engility Holdings, Inc. 497 15,392 Ennis, Inc. 1,743 30,938 * EnPro Industries, Inc. 2,200 131,274 Equifax, Inc. 1,300 84,071 # ESCO Technologies, Inc. 1,814 65,449 Espey Manufacturing & Electronics Corp. 200 6,500 Expeditors International of Washington, Inc. 1,230 55,707 Exponent, Inc. 1,100 83,171 # Fastenal Co. 2,309 114,988 * Federal Signal Corp. 4,281 58,607 FedEx Corp. 9,578 1,254,718 * Flow International Corp. 3,772 15,050 Flowserve Corp. 180 12,505 Fluor Corp. 6,331 469,887 Fortune Brands Home & Security, Inc. 6,870 295,960 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Industrials -- (Continued) Forward Air Corp. 2,076 $ 84,036 * Franklin Covey Co. 1,096 20,605 # Franklin Electric Co., Inc. 4,821 182,475 FreightCar America, Inc. 900 20,016 * FTI Consulting, Inc. 2,930 118,899 * Fuel Tech, Inc. 1,500 6,795 * Furmanite Corp. 3,862 43,447 G&K Services, Inc. Class A 1,625 101,400 GATX Corp. 3,852 198,571 #* Genco Shipping & Trading, Ltd. 2,900 7,743 Generac Holdings, Inc. 2,918 144,003 General Cable Corp. 4,217 138,866 * Genesee & Wyoming, Inc. Class A 2,914 290,934 * Gibraltar Industries, Inc. 2,300 36,823 Global Power Equipment Group, Inc. 800 16,288 #* Goldfield Corp. (The) 600 1,140 Gorman-Rupp Co. (The) 1,406 57,280 * GP Strategies Corp. 2,129 59,655 Graco, Inc. 1,456 112,491 #* GrafTech International, Ltd. 6,803 60,547 Graham Corp. 700 25,767 Granite Construction, Inc. 3,119 100,900 # Great Lakes Dredge & Dock Corp. 6,473 52,561 * Greenbrier Cos., Inc. 2,478 65,766 Griffon Corp. 5,226 65,482 * H&E Equipment Services, Inc. 2,268 56,768 Hardinge, Inc. 1,051 15,544 Harsco Corp. 8,214 229,006 #* Hawaiian Holdings, Inc. 5,433 44,822 Healthcare Services Group, Inc. 1,061 29,061 Heartland Express, Inc. 8,800 126,368 HEICO Corp. 2,200 117,876 HEICO Corp. Class A 1,388 54,057 Heidrick & Struggles International, Inc. 1,162 21,520 * Heritage-Crystal Clean, Inc. 57 1,007 Herman Miller, Inc. 2,465 74,788 * Hertz Global Holdings, Inc. 15,400 353,584 * Hexcel Corp. 6,800 287,708 * Hill International, Inc. 2,600 8,944 HNI Corp. 3,207 124,592 Honeywell International, Inc. 5,969 517,691 Houston Wire & Cable Co. 1,200 16,644 * Hub Group, Inc. Class A 3,042 111,733 Hubbell, Inc. Class A 167 16,166 Hubbell, Inc. Class B 750 80,655 * Hudson Global, Inc. 2,300 7,475 Hurco Cos., Inc. 500 12,245 * Huron Consulting Group, Inc. 2,502 146,542 Hyster-Yale Materials Handling, Inc. 1,000 78,440 * ICF International, Inc. 1,396 48,330 IDEX Corp. 5,814 402,038 #* IHS, Inc. Class A 700 76,335 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Industrials -- (Continued) * II-VI, Inc. 4,368 $ 74,518 Illinois Tool Works, Inc. 5,172 407,502 Ingersoll-Rand P.L.C. 3,909 263,975 * InnerWorkings, Inc. 3,312 31,696 Innovative Solutions & Support, Inc. 400 3,152 Insperity, Inc. 2,168 83,837 Insteel Industries, Inc. 1,312 21,766 * Integrated Electrical Services, Inc. 260 1,212 # Interface, Inc. 4,868 98,577 # International Shipholding Corp. 500 12,410 Intersections, Inc. 1,300 11,141 Iron Mountain, Inc. 2,044 54,248 ITT Corp. 6,349 252,246 * Jacobs Engineering Group, Inc. 5,862 356,527 JB Hunt Transport Services, Inc. 1,300 97,539 #* JetBlue Airways Corp. 21,645 153,463 John Bean Technologies Corp. 1,711 46,505 # Joy Global, Inc. 3,530 200,327 Kadant, Inc. 500 17,900 Kaman Corp. 1,939 72,092 Kansas City Southern 4,545 552,308 KAR Auction Services, Inc. 8,173 242,902 KBR, Inc. 7,060 243,852 # Kelly Services, Inc. Class A 3,623 75,576 Kennametal, Inc. 6,737 309,902 * Key Technology, Inc. 200 2,894 Kforce, Inc. 3,920 77,185 Kimball International, Inc. Class B 2,971 34,761 #* Kirby Corp. 5,156 456,254 Knight Transportation, Inc. 6,967 118,230 Knoll, Inc. 4,272 70,146 * Korn/Ferry International 3,862 91,916 Landstar System, Inc. 1,000 55,290 * Lawson Products, Inc. 700 9,184 #* Layne Christensen Co. 1,949 37,694 LB Foster Co. Class A 744 34,782 Lennox International, Inc. 1,600 124,896 Lincoln Electric Holdings, Inc. 1,700 117,708 # Lindsay Corp. 1,207 91,744 * LMI Aerospace, Inc. 900 14,130 LS Starrett Co. (The) Class A 230 2,615 LSI Industries, Inc. 1,905 17,545 * Lydall, Inc. 1,100 20,042 Manitowoc Co., Inc. (The) 9,968 193,977 Manpowergroup, Inc. 5,670 442,827 Marten Transport, Ltd. 2,514 44,347 Masco Corp. 6,131 129,548 * MasTec, Inc. 7,832 250,389 # Matson, Inc. 3,461 93,758 # McGrath RentCorp 1,766 62,993 * Meritor, Inc. 4,975 34,178 * Mfri, Inc. 300 3,552 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Industrials -- (Continued) * Middleby Corp. 810 $184,396 Miller Industries, Inc. 800 14,992 Mine Safety Appliances Co. 3,072 147,948 * Mistras Group, Inc. 1,695 31,120 * Mobile Mini, Inc. 4,479 161,781 * Moog, Inc. Class A 2,878 171,903 * Moog, Inc. Class B 262 15,846 MSC Industrial Direct Co., Inc. Class A 500 38,185 Mueller Industries, Inc. 2,762 166,521 Mueller Water Products, Inc. Class A 16,709 143,196 Multi-Color Corp. 800 27,864 * MYR Group, Inc. 1,744 46,129 * Navigant Consulting, Inc. 4,670 81,024 #* Navistar International Corp. 1,784 64,509 * NCI Building Systems, Inc. 513 7,403 Nielsen Holdings NV 14,839 585,250 # NL Industries, Inc. 2,000 23,320 NN, Inc. 1,333 21,435 Nordson Corp. 1,100 79,299 Norfolk Southern Corp. 8,800 756,976 * Northwest Pipe Co. 665 23,960 #* Ocean Power Technologies, Inc. 500 1,175 * Old Dominion Freight Line, Inc. 6,005 281,634 * On Assignment, Inc. 5,656 191,116 * Orbital Sciences Corp. 7,578 174,824 * Orion Energy Systems, Inc. 900 3,825 * Orion Marine Group, Inc. 1,535 19,188 #* Owens Corning 6,210 223,125 PACCAR, Inc. 4,419 245,696 * Pacer International, Inc. 2,700 21,546 Pall Corp. 1,300 104,676 PAM Transportation Services, Inc. 500 8,700 * Park-Ohio Holdings Corp. 1,285 53,212 Parker Hannifin Corp. 6,367 743,156 * Patrick Industries, Inc. 1,039 32,500 * Pendrell Corp. 6,146 13,706 Pentair, Ltd. 8,367 561,342 * PGT, Inc. 4,678 48,885 Pike Electric Corp. 2,564 27,717 # Pitney Bowes, Inc. 4,285 91,442 * PMFG, Inc. 999 7,832 #* Polypore International, Inc. 3,141 141,973 * Powell Industries, Inc. 901 56,610 * PowerSecure International, Inc. 984 17,791 Precision Castparts Corp. 1,900 481,555 Preformed Line Products Co. 322 27,054 Primoris Services Corp. 5,016 130,617 * Proto Labs, Inc. 501 42,014 * Quality Distribution, Inc. 1,489 15,307 Quanex Building Products Corp. 3,119 55,456 * Quanta Services, Inc. 11,778 355,813 # Raven Industries, Inc. 1,000 33,360 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Industrials -- (Continued) * RBC Bearings, Inc. 2,352 $161,794 RCM Technologies, Inc. 300 1,935 Regal-Beloit Corp. 3,437 252,035 * Republic Airways Holdings, Inc. 4,503 53,045 Republic Services, Inc. 13,754 460,346 Resources Connection, Inc. 3,398 43,358 * Roadrunner Transportation Systems, Inc. 3,053 80,904 Robert Half International, Inc. 2,000 77,060 Rockwell Automation, Inc. 1,945 214,747 Rollins, Inc. 3,000 82,920 Roper Industries, Inc. 3,633 460,701 * RPX Corp. 5,300 94,658 RR Donnelley & Sons Co. 12,564 233,313 #* Rush Enterprises, Inc. Class A 2,608 74,641 Ryder System, Inc. 4,507 296,696 * Saia, Inc. 2,095 68,150 Schawk, Inc. 1,063 15,541 #* Sensata Technologies Holding NV 1,533 57,687 SIFCO Industries, Inc. 157 3,482 Simpson Manufacturing Co., Inc. 4,083 144,742 SkyWest, Inc. 4,435 66,702 SL Industries, Inc. 160 4,320 Snap-on, Inc. 2,500 260,175 Southwest Airlines Co. 38,606 664,795 #* Spirit Aerosystems Holdings, Inc. Class A 9,209 245,788 * Spirit Airlines, Inc. 5,533 238,749 SPX Corp. 3,471 314,854 * Standard Parking Corp. 600 15,882 * Standard Register Co. (The) 220 1,870 Standex International Corp. 1,192 73,320 Stanley Black & Decker, Inc. 5,853 462,914 Steelcase, Inc. Class A 9,025 147,920 * Stericycle, Inc. 993 115,387 * Sterling Construction Co., Inc. 832 7,987 Sun Hydraulics Corp. 1,620 64,282 #* Swift Transportation Co. 7,352 160,200 Sypris Solutions, Inc. 1,400 4,466 # TAL International Group, Inc. 3,220 155,558 * Taser International, Inc. 4,043 71,844 #* Team, Inc. 1,660 61,901 #* Tecumseh Products Co. Class A 610 4,758 Tennant Co. 1,100 66,759 * Terex Corp. 9,365 327,307 * Tetra Tech, Inc. 4,748 124,065 # Textainer Group Holdings, Ltd. 5,806 220,047 * Thermon Group Holdings, Inc. 365 8,581 Timken Co. 4,108 216,943 # Titan International, Inc. 3,320 48,140 #* Titan Machinery, Inc. 1,637 28,877 Toro Co. (The) 1,210 71,317 Towers Watson & Co. Class A 2,442 280,366 TransDigm Group, Inc. 920 133,777 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ ----------- Industrials -- (Continued) #* TRC Cos., Inc. 1,036 $ 7,967 #* Trex Co., Inc. 718 50,418 * Trimas Corp. 3,017 114,224 Trinity Industries, Inc. 6,685 338,462 Triumph Group, Inc. 4,187 299,999 * TrueBlue, Inc. 4,540 112,138 * Tutor Perini Corp. 3,246 74,496 # Twin Disc, Inc. 1,100 28,457 Tyco International, Ltd. 3,907 142,801 * Ultralife Corp. 900 3,510 UniFirst Corp. 1,405 144,462 Union Pacific Corp. 14,927 2,259,948 * United Continental Holdings, Inc. 10,767 365,540 United Parcel Service, Inc. Class B 4,000 392,960 #* United Rentals, Inc. 4,440 286,780 United Stationers, Inc. 3,103 137,897 United Technologies Corp. 7,915 840,969 Universal Forest Products, Inc. 1,415 74,882 Universal Truckload Services, Inc. 1,125 29,992 URS Corp. 7,053 382,414 * US Airways Group, Inc. 8,897 195,467 US Ecology, Inc. 2,010 71,455 * USA Truck, Inc. 505 6,706 #* USG Corp. 4,037 110,250 UTi Worldwide, Inc. 10,073 153,110 Valmont Industries, Inc. 1,627 228,593 * Verisk Analytics, Inc. Class A 2,360 161,707 Viad Corp. 1,848 49,342 * Vicor Corp. 1,600 14,096 #* Wabash National Corp. 4,860 56,668 * WABCO Holdings, Inc. 1,532 131,262 Wabtec Corp. 1,200 78,228 Waste Connections, Inc. 8,268 353,374 Waste Management, Inc. 5,893 256,581 Watsco, Inc. 1,518 144,650 Watts Water Technologies, Inc. Class A 2,837 163,922 # Werner Enterprises, Inc. 6,557 151,860 * Wesco Aircraft Holdings, Inc. 3,750 68,700 #* WESCO International, Inc. 4,200 358,932 * Willis Lease Finance Corp. 400 6,972 Woodward, Inc. 4,997 200,330 WW Grainger, Inc. 300 80,691 * XPO Logistics, Inc. 750 15,135 Xylem, Inc. 7,840 270,480 ----------- Total Industrials 53,439,723 ----------- Information Technology -- (15.9%) #* 3D Systems Corp. 2,797 174,085 * Accelrys, Inc. 4,544 42,486 Accenture P.L.C. Class A 3,700 271,950 * ACI Worldwide, Inc. 3,200 176,384 Activision Blizzard, Inc. 14,330 238,451 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Information Technology -- (Continued) * Actuate Corp. 5,500 $ 44,055 * Acxiom Corp. 8,058 267,767 * Adobe Systems, Inc. 6,517 353,221 ADTRAN, Inc. 3,700 86,876 * Advanced Energy Industries, Inc. 3,977 83,040 #* Advanced Micro Devices, Inc. 23,180 77,421 Advent Software, Inc. 3,324 111,520 * Agilysys, Inc. 1,500 17,625 * Akamai Technologies, Inc. 4,687 209,696 #* Alliance Data Systems Corp. 700 165,942 * Alpha & Omega Semiconductor, Ltd. 1,573 11,577 Altera Corp. 13,214 443,990 Amdocs, Ltd. 7,478 287,529 American Software, Inc. Class A 1,755 15,356 #* Amkor Technology, Inc. 10,538 55,957 Amphenol Corp. Class A 1,929 154,879 * Amtech Systems, Inc. 400 3,200 #* ANADIGICS, Inc. 1,360 2,747 Analog Devices, Inc. 13,040 642,872 * Anaren, Inc. 1,065 26,604 * Anixter International, Inc. 2,363 202,013 * ANSYS, Inc. 1,000 87,450 AOL, Inc. 6,930 251,143 Apple, Inc. 13,177 6,883,006 Applied Materials, Inc. 19,110 341,113 * Applied Micro Circuits Corp. 5,264 61,378 * ARRIS Group, Inc. 10,814 193,138 * Arrow Electronics, Inc. 8,995 431,940 #* Aruba Networks, Inc. 1,700 31,892 * AsiaInfo-Linkage, Inc. 2,500 29,000 * Aspen Technology, Inc. 2,312 88,388 * Atmel Corp. 25,000 182,000 * ATMI, Inc. 3,240 88,582 * Autodesk, Inc. 2,600 103,766 Automatic Data Processing, Inc. 2,658 199,270 Avago Technologies, Ltd. 2,800 127,204 * AVG Technologies NV 1,668 33,527 * Aviat Networks, Inc. 3,735 7,694 * Avid Technology, Inc. 2,744 20,443 Avnet, Inc. 10,169 403,709 AVX Corp. 6,101 80,838 * AXT, Inc. 2,400 5,424 Badger Meter, Inc. 1,200 62,412 #* Bankrate, Inc. 7,400 124,616 Bel Fuse, Inc. Class B 700 14,728 * Benchmark Electronics, Inc. 4,214 95,784 # Black Box Corp. 1,262 31,600 Blackbaud, Inc. 1,250 45,000 * Blucora, Inc. 3,873 91,519 Booz Allen Hamilton Holding Corp. 4,433 87,773 #* Bottomline Technologies de, Inc. 3,812 119,773 Broadcom Corp. Class A 6,200 165,664 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Information Technology -- (Continued) Broadridge Financial Solutions, Inc. 4,300 $ 151,188 * BroadVision, Inc. 200 1,938 * Brocade Communications Systems, Inc. 41,480 332,670 Brooks Automation, Inc. 3,979 38,358 * Bsquare Corp. 500 1,610 * BTU International, Inc. 400 1,324 CA, Inc. 17,698 562,088 * Cabot Microelectronics Corp. 2,465 100,794 * CACI International, Inc. Class A 2,066 148,711 #* Cadence Design Systems, Inc. 6,300 81,711 * CalAmp Corp. 1,600 37,648 * Calix, Inc. 5,315 54,054 * Cardtronics, Inc. 2,400 94,200 * Cascade Microtech, Inc. 700 7,168 # Cass Information Systems, Inc. 876 50,221 * Ceva, Inc. 1,230 17,626 * Checkpoint Systems, Inc. 3,000 51,060 * CIBER, Inc. 4,882 15,867 * Ciena Corp. 4,659 108,415 #* Cirrus Logic, Inc. 6,738 151,133 Cisco Systems, Inc. 70,487 1,585,957 * Citrix Systems, Inc. 2,202 125,030 * Clearfield, Inc. 600 8,904 Cognex Corp. 6,116 191,125 * Cognizant Technology Solutions Corp. Class A 1,100 95,623 Coherent, Inc. 1,988 131,586 Cohu, Inc. 1,699 16,242 Communications Systems, Inc. 400 4,564 * CommVault Systems, Inc. 924 72,146 Computer Sciences Corp. 6,972 343,441 Computer Task Group, Inc. 1,668 28,573 Compuware Corp. 18,820 200,998 * comScore, Inc. 1,191 31,824 Comtech Telecommunications Corp. 1,300 39,026 #* Concur Technologies, Inc. 1,121 117,257 Concurrent Computer Corp. 1,400 10,318 * Constant Contact, Inc. 710 18,396 # Convergys Corp. 8,388 165,579 * CoreLogic, Inc. 9,208 306,350 * Cornerstone OnDemand, Inc. 1,800 85,266 * CoStar Group, Inc. 1,027 181,769 #* Cray, Inc. 4,033 90,178 #* Cree, Inc. 9,729 591,037 #* Crexendo, Inc. 100 310 CSG Systems International, Inc. 2,509 69,901 CTS Corp. 1,493 27,800 # Cypress Semiconductor Corp. 781 7,248 Daktronics, Inc. 2,912 34,828 * Datalink Corp. 1,905 19,564 * Dealertrack Technologies, Inc. 4,432 165,314 #* Demand Media, Inc. 3,316 15,850 #* Dice Holdings, Inc. 4,814 35,527 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Information Technology -- (Continued) # Diebold, Inc. 5,091 $ 152,526 * Digi International, Inc. 1,926 19,414 # Digimarc Corp. 400 8,424 * Digital River, Inc. 2,881 51,397 * Diodes, Inc. 3,494 84,625 # Dolby Laboratories, Inc. Class A 3,796 135,669 * Dot Hill Systems Corp. 817 2,369 * DSP Group, Inc. 1,882 14,021 DST Systems, Inc. 3,628 307,546 * DTS, Inc. 1,197 23,940 * Dynamics Research Corp. 600 4,440 EarthLink, Inc. 5,823 29,464 * eBay, Inc. 8,856 466,800 # Ebix, Inc. 3,114 35,437 #* Echelon Corp. 1,167 2,532 * EchoStar Corp. Class A 3,056 146,566 Electro Rent Corp. 2,186 39,654 Electro Scientific Industries, Inc. 1,665 19,947 * Electronic Arts, Inc. 12,950 339,937 * Electronics for Imaging, Inc. 4,349 149,214 eMagin Corp. 200 550 EMC Corp. 49,450 1,190,261 #* Emcore Corp. 1,542 8,219 * Emulex Corp. 8,592 64,698 * Entegris, Inc. 13,244 137,075 * Entropic Communications, Inc. 6,177 26,438 * Envestnet, Inc. 1,539 55,866 * EPAM Systems, Inc. 1,693 63,437 EPIQ Systems, Inc. 2,540 37,998 ePlus, Inc. 624 33,921 #* Equinix, Inc. 691 111,583 * Euronet Worldwide, Inc. 5,099 221,297 * Exar Corp. 4,467 51,505 * ExlService Holdings, Inc. 2,149 62,128 * Extreme Networks 9,220 49,419 * F5 Networks, Inc. 800 65,208 * Fabrinet 1,800 30,132 * Facebook, Inc. Class A 8,200 412,132 # FactSet Research Systems, Inc. 434 47,280 Fair Isaac Corp. 2,930 167,830 * Fairchild Semiconductor International, Inc. 10,463 132,566 #* FalconStor Software, Inc. 2,300 3,404 #* FARO Technologies, Inc. 900 42,750 FEI Co. 2,700 240,516 Fidelity National Information Services, Inc. 11,183 545,171 * Finisar Corp. 10,080 231,941 #* First Solar, Inc. 8,456 425,083 * Fiserv, Inc. 5,016 525,326 * FleetCor Technologies, Inc. 1,366 157,568 * FormFactor, Inc. 5,406 28,219 Forrester Research, Inc. 2,039 79,134 * Fortinet, Inc. 3,600 72,396 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Information Technology -- (Continued) * Freescale Semiconductor, Ltd. 3,035 $ 46,860 Frequency Electronics, Inc. 400 4,444 * Gartner, Inc. 961 56,651 * Genpact, Ltd. 8,673 171,986 Global Payments, Inc. 5,539 329,460 * Globecomm Systems, Inc. 1,706 23,935 * Google, Inc. Class A 2,713 2,795,964 * GSI Group, Inc. 2,146 21,417 * GSI Technology, Inc. 1,600 11,232 #* GT Advanced Technologies, Inc. 5,500 41,250 #* Guidance Software, Inc. 500 4,370 * Guidewire Software, Inc. 1,681 85,260 Hackett Group, Inc. (The) 2,800 19,936 * Harmonic, Inc. 9,892 72,311 # Heartland Payment Systems, Inc. 2,158 87,291 Hewlett-Packard Co. 49,442 1,204,902 * Hittite Microwave Corp. 1,882 120,241 IAC/InterActiveCorp 5,080 271,221 * ID Systems, Inc. 100 520 * Identive Group, Inc. 2,492 1,595 #* IEC Electronics Corp. 450 1,935 * iGATE Corp. 2,779 88,483 * Imation Corp. 1,900 8,835 * Immersion Corp. 1,700 21,624 * Infinera Corp. 10,687 109,114 * Informatica Corp. 3,140 121,204 * Ingram Micro, Inc. Class A 10,867 251,788 * Innodata, Inc. 700 1,680 #* Inphi Corp. 2,200 32,428 * Insight Enterprises, Inc. 4,000 84,280 * Integrated Device Technology, Inc. 13,970 148,641 * Integrated Silicon Solution, Inc. 2,651 28,578 Intel Corp. 127,592 3,117,073 * Interactive Intelligence Group, Inc. 300 18,435 # InterDigital, Inc. 3,147 121,946 * Internap Network Services Corp. 4,800 34,896 International Business Machines Corp. 5,900 1,057,339 * International Rectifier Corp. 7,178 186,915 Intersil Corp. Class A 12,304 137,313 * Intevac, Inc. 1,700 8,670 Intuit, Inc. 1,400 99,974 * Ipass, Inc. 2,100 3,885 # IPG Photonics Corp. 1,700 112,659 #* Itron, Inc. 2,865 122,250 * Ixia 7,078 100,366 IXYS Corp. 2,328 27,075 # j2 Global, Inc. 3,521 193,585 Jabil Circuit, Inc. 17,015 354,933 Jack Henry & Associates, Inc. 3,416 186,548 #* JDS Uniphase Corp. 13,298 174,071 * Juniper Networks, Inc. 26,677 497,259 * Kemet Corp. 1,223 6,934 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Information Technology -- (Continued) * Key Tronic Corp. 700 $ 7,595 KLA-Tencor Corp. 7,152 469,171 * Kulicke & Soffa Industries, Inc. 6,802 87,746 * KVH Industries, Inc. 884 12,146 * Lam Research Corp. 7,408 401,736 * Lattice Semiconductor Corp. 7,554 38,752 # Leidos Holdings, Inc. 6,493 305,755 Lender Processing Services, Inc. 3,100 107,012 # Lexmark International, Inc. Class A 6,300 223,965 * Limelight Networks, Inc. 7,507 14,413 Linear Technology Corp. 2,670 109,844 * LinkedIn Corp. Class A 700 156,569 * Lionbridge Technologies, Inc. 3,066 13,368 #* Liquidity Services, Inc. 151 3,943 Littelfuse, Inc. 2,023 172,016 * LoJack Corp. 1,205 5,278 LSI Corp. 15,094 127,997 * LTX-Credence Corp. 3,103 19,021 * Magnachip Semiconductor Corp. 3,805 71,115 * Manhattan Associates, Inc. 800 85,208 Marchex, Inc. Class B 1,400 12,488 Marvell Technology Group, Ltd. 29,570 354,840 Mastercard, Inc. Class A 800 573,680 #* Mattersight Corp. 151 639 Maxim Integrated Products, Inc. 8,541 253,668 MAXIMUS, Inc. 2,800 135,660 * MaxLinear, Inc. Class A 1,000 8,660 * Maxwell Technologies, Inc. 1,381 10,358 * Measurement Specialties, Inc. 1,565 87,217 Mentor Graphics Corp. 11,565 255,355 # Mesa Laboratories, Inc. 256 17,825 Methode Electronics, Inc. 3,800 97,204 Micrel, Inc. 4,040 37,168 # Microchip Technology, Inc. 7,441 319,665 * Micron Technology, Inc. 46,607 824,012 #* MICROS Systems, Inc. 1,944 105,462 * Microsemi Corp. 8,579 215,590 Microsoft Corp. 62,616 2,213,476 #* Mindspeed Technologies, Inc. 2,100 6,069 MKS Instruments, Inc. 4,261 126,296 MOCON, Inc. 400 5,580 * ModusLink Global Solutions, Inc. 2,008 8,273 Molex, Inc. 6,098 235,383 Molex, Inc. Class A 2,753 105,990 * MoneyGram International, Inc. 1,187 25,058 # Monolithic Power Systems, Inc. 3,036 96,666 Monotype Imaging Holdings, Inc. 3,218 90,812 #* Monster Worldwide, Inc. 8,316 35,925 * MoSys, Inc. 4,500 19,800 Motorola Solutions, Inc. 1,408 88,028 * Move, Inc. 2,346 39,812 # MTS Systems Corp. 1,176 76,816 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Information Technology -- (Continued) * Multi-Fineline Electronix, Inc. 1,449 $ 19,431 * Nanometrics, Inc. 2,275 42,270 * NAPCO Security Technologies, Inc. 990 5,564 National Instruments Corp. 3,787 110,012 * NCI, Inc. Class A 397 2,263 * NCR Corp. 1,700 62,135 NetApp, Inc. 13,576 526,885 * NETGEAR, Inc. 2,872 82,599 * Netscout Systems, Inc. 2,794 79,126 #* NetSuite, Inc. 550 55,484 * NeuStar, Inc. Class A 2,100 96,432 * Newport Corp. 2,772 43,992 NIC, Inc. 2,814 69,281 * Novatel Wireless, Inc. 1,800 5,517 * Nuance Communications, Inc. 7,400 115,144 #* Numerex Corp. Class A 800 9,448 NVIDIA Corp. 25,022 379,834 #* Oclaro, Inc. 4,670 9,527 * Official Payments Holdings, Inc. 100 834 * OmniVision Technologies, Inc. 5,271 73,847 * ON Semiconductor Corp. 27,651 195,216 * OpenTable, Inc. 439 30,502 * Oplink Communications, Inc. 2,074 37,851 Oracle Corp. 29,345 983,057 * OSI Systems, Inc. 1,600 116,544 * Pandora Media, Inc. 3,000 75,390 * PAR Technology Corp. 700 3,892 Park Electrochemical Corp. 1,965 55,118 # Paychex, Inc. 4,438 187,550 PC Connection, Inc. 1,700 33,983 PC-Tel, Inc. 700 6,447 * PCM, Inc. 700 7,364 * PDF Solutions, Inc. 1,700 39,049 Pegasystems, Inc. 1,142 43,465 Perceptron, Inc. 800 11,192 * Perficient, Inc. 3,179 57,508 * Pericom Semiconductor Corp. 1,840 14,867 #* Photronics, Inc. 6,520 54,768 * Pixelworks, Inc. 300 1,359 * Planar Systems, Inc. 131 274 Plantronics, Inc. 4,400 188,936 * Plexus Corp. 2,684 102,744 * PLX Technology, Inc. 3,500 21,140 * PMC - Sierra, Inc. 18,800 110,356 * Polycom, Inc. 10,695 111,228 # Power Integrations, Inc. 2,457 141,130 * PRGX Global, Inc. 2,000 14,360 * Progress Software Corp. 4,875 126,555 * PROS Holdings, Inc. 933 32,982 * PTC, Inc. 4,100 113,652 #* Pulse Electronics Corp. 92 342 QAD, Inc. Class A 1,497 22,335 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Information Technology -- (Continued) QAD, Inc. Class B 160 $ 2,016 * QLIK Technologies, Inc. 2,196 55,647 * QLogic Corp. 6,817 84,190 QUALCOMM, Inc. 20,304 1,410,519 * Quantum Corp. 4,896 6,071 * QuinStreet, Inc. 2,573 22,874 * Qumu Corp. 800 11,984 #* Rackspace Hosting, Inc. 1,600 81,968 * Radisys Corp. 1,829 5,524 #* Rambus, Inc. 7,258 63,435 * RealD, Inc. 3,135 21,694 * RealNetworks, Inc. 2,452 18,807 * Red Hat, Inc. 2,126 91,992 * Reis, Inc. 600 10,794 * Responsys, Inc. 3,710 60,621 * RF Micro Devices, Inc. 20,200 106,050 Richardson Electronics, Ltd. 900 10,368 * Riverbed Technology, Inc. 8,723 129,275 * Rofin-Sinar Technologies, Inc. 1,841 48,326 * Rogers Corp. 1,173 71,506 * Rosetta Stone, Inc. 1,595 24,212 * Rovi Corp. 6,771 113,482 #* Rubicon Technology, Inc. 1,694 14,568 * Rudolph Technologies, Inc. 2,708 28,705 * Saba Software, Inc. 1,400 16,240 * Salesforce.com, Inc. 2,827 150,849 SanDisk Corp. 9,556 664,142 * Sanmina Corp. 8,115 118,154 * Sapient Corp. 11,200 177,072 * ScanSource, Inc. 1,900 73,074 # Science Applications International Corp. 3,710 130,777 * Seachange International, Inc. 3,525 50,020 Seagate Technology P.L.C. 2,700 131,436 * Semtech Corp. 5,184 161,274 * ShoreTel, Inc. 2,000 15,900 * Sigma Designs, Inc. 2,476 13,469 #* Silicon Graphics International Corp. 3,567 45,551 * Silicon Image, Inc. 8,600 45,150 * Silicon Laboratories, Inc. 3,026 121,706 * Skyworks Solutions, Inc. 9,069 233,799 #* Smith Micro Software, Inc. 2,100 1,701 * SMTC Corp. 1,100 2,145 * SolarWinds, Inc. 1,900 68,761 Solera Holdings, Inc. 1,354 76,122 * Sonus Networks, Inc. 29,469 88,407 * Spansion, Inc. Class A 5,831 69,797 #* Spark Networks, Inc. 1,000 7,160 * Speed Commerce, Inc. 600 2,202 * SS&C Technologies Holdings, Inc. 7,700 302,610 * Stamps.com, Inc. 821 37,306 * StarTek, Inc. 700 4,382 * Stratasys, Ltd. 3,049 345,238 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Information Technology -- (Continued) * SunEdison, Inc. 22,088 $205,418 #* SunPower Corp. 6,203 187,269 * Super Micro Computer, Inc. 2,560 35,635 Supertex, Inc. 1,128 28,775 * support.com, Inc. 5,020 22,389 * Sykes Enterprises, Inc. 3,417 63,966 Symantec Corp. 9,402 213,801 * Symmetricom, Inc. 3,136 22,485 #* Synaptics, Inc. 3,245 150,892 #* Synchronoss Technologies, Inc. 3,100 107,322 * SYNNEX Corp. 3,649 223,684 * Synopsys, Inc. 6,817 248,480 Syntel, Inc. 1,200 103,008 * Take-Two Interactive Software, Inc. 9,617 172,240 TE Connectivity, Ltd. 5,500 283,195 * Tech Data Corp. 3,621 188,509 #* TeleCommunication Systems, Inc. Class A 1,125 2,565 * Telenav, Inc. 2,000 14,500 #* TeleTech Holdings, Inc. 4,817 127,506 Tellabs, Inc. 20,300 49,532 * Teradata Corp. 1,850 81,529 #* Teradyne, Inc. 12,646 221,179 Tessco Technologies, Inc. 672 23,809 Tessera Technologies, Inc. 5,070 96,431 Texas Instruments, Inc. 8,400 353,472 * TIBCO Software, Inc. 1,804 44,306 Total System Services, Inc. 12,690 378,543 Transact Technologies, Inc. 400 5,516 * Trimble Navigation, Ltd. 2,600 74,282 * TriQuint Semiconductor, Inc. 15,220 120,695 * Trulia, Inc. 105 4,197 * TTM Technologies, Inc. 5,186 45,378 * Tyler Technologies, Inc. 1,000 96,710 * Ultimate Software Group, Inc. 680 105,046 * Ultra Clean Holdings 1,300 12,103 * Ultratech, Inc. 2,800 66,612 * Unisys Corp. 3,288 86,639 United Online, Inc. 9,058 78,261 #* Unwired Planet, Inc. 3,220 5,216 #* ValueClick, Inc. 7,466 143,422 * Vantiv, Inc. Class A 880 24,200 #* Veeco Instruments, Inc. 3,544 103,520 * VeriFone Systems, Inc. 6,690 151,595 * Verint Systems, Inc. 4,496 164,194 #* VeriSign, Inc. 1,800 97,704 #* ViaSat, Inc. 2,399 158,622 #* Viasystems Group, Inc. 804 12,060 * Virtusa Corp. 2,900 90,132 Visa, Inc. Class A 4,405 866,331 * Vishay Intertechnology, Inc. 12,407 152,234 * Vishay Precision Group, Inc. 793 13,005 * VistaPrint NV 1,285 69,454 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ ----------- Information Technology -- (Continued) * VMware, Inc. Class A 400 $ 32,512 Wayside Technology Group, Inc. 200 2,620 * Web.com Group, Inc. 3,410 91,899 #* WebMD Health Corp. 3,277 115,416 #* Westell Technologies, Inc. Class A 2,172 7,797 Western Digital Corp. 9,737 677,987 Western Union Co. (The) 6,596 112,264 * WEX, Inc. 1,336 124,716 Xilinx, Inc. 8,950 406,509 * XO Group, Inc. 2,465 34,214 Xyratex, Ltd. 2,100 20,874 * Yahoo!, Inc. 31,999 1,053,727 * Zebra Technologies Corp. Class A 5,254 253,821 #* Zix Corp. 5,819 23,742 * Zygo Corp. 1,500 23,160 * Zynga, Inc. Class A 51,100 183,449 ----------- Total Information Technology 70,527,120 ----------- Materials -- (4.8%) A Schulman, Inc. 2,365 78,329 * AEP Industries, Inc. 575 34,167 Air Products & Chemicals, Inc. 2,600 283,426 Airgas, Inc. 2,643 288,272 Albemarle Corp. 3,020 199,894 # Alcoa, Inc. 49,187 455,963 # Allegheny Technologies, Inc. 9,816 324,910 #* Allied Nevada Gold Corp. 1,571 6,410 * AM Castle & Co. 1,581 22,624 # AMCOL International Corp. 2,649 84,980 * American Pacific Corp. 300 13,656 American Vanguard Corp. 2,100 54,810 Aptargroup, Inc. 4,088 262,286 #* Arabian American Development Co. 1,000 9,100 Ashland, Inc. 4,433 410,274 Avery Dennison Corp. 6,514 306,940 Axiall Corp. 3,908 151,982 Ball Corp. 1,570 76,757 Bemis Co., Inc. 8,248 329,095 # Cabot Corp. 4,342 202,381 * Calgon Carbon Corp. 5,733 114,373 # Carpenter Technology Corp. 3,000 177,990 Celanese Corp. Series A 1,707 95,609 * Century Aluminum Co. 8,251 71,619 CF Industries Holdings, Inc. 2,226 479,926 Chase Corp. 598 18,095 * Chemtura Corp. 9,802 240,149 * Clearwater Paper Corp. 1,919 100,210 # Cliffs Natural Resources, Inc. 8,970 230,350 * Coeur d'Alene Mines Corp. 8,300 101,343 Commercial Metals Co. 11,472 210,626 Compass Minerals International, Inc. 1,100 81,917 #* Contango ORE, Inc. 20 184 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Materials -- (Continued) * Core Molding Technologies, Inc. 283 $ 3,056 * Crown Holdings, Inc. 1,638 71,417 Cytec Industries, Inc. 3,900 324,051 Deltic Timber Corp. 681 43,502 Domtar Corp. 2,479 209,996 Dow Chemical Co. (The) 16,952 669,095 Eagle Materials, Inc. 2,300 172,523 Eastman Chemical Co. 1,900 149,701 Ecolab, Inc. 2,189 232,034 EI du Pont de Nemours & Co. 6,981 427,237 * Ferro Corp. 1,600 20,528 #* Flotek Industries, Inc. 1,900 40,622 FMC Corp. 1,560 113,506 Freeport-McMoRan Copper & Gold, Inc. 24,453 898,892 Friedman Industries, Inc. 400 3,968 FutureFuel Corp. 1,569 27,316 #* General Moly, Inc. 6,663 10,927 Globe Specialty Metals, Inc. 5,700 99,978 #* Golden Minerals Co. 900 693 * Graphic Packaging Holding Co. 23,446 196,946 Greif, Inc. Class A 1,400 74,886 Greif, Inc. Class B 1,052 59,806 Hawkins, Inc. 817 29,420 Haynes International, Inc. 794 42,797 HB Fuller Co. 4,005 191,719 #* Headwaters, Inc. 3,100 27,063 Hecla Mining Co. 24,464 76,328 #* Horsehead Holding Corp. 4,050 58,766 Huntsman Corp. 16,404 380,901 Innophos Holdings, Inc. 2,105 105,503 Innospec, Inc. 2,596 119,572 International Flavors & Fragrances, Inc. 900 74,385 International Paper Co. 10,260 457,699 # Intrepid Potash, Inc. 5,959 88,491 Kaiser Aluminum Corp. 1,125 75,881 KapStone Paper and Packaging Corp. 4,984 258,969 # KMG Chemicals, Inc. 783 15,644 Koppers Holdings, Inc. 800 35,608 * Kraton Performance Polymers, Inc. 2,156 45,858 # Kronos Worldwide, Inc. 4,154 64,429 * Landec Corp. 2,183 25,563 * Louisiana-Pacific Corp. 11,287 191,992 * LSB Industries, Inc. 1,632 59,927 LyondellBasell Industries NV Class A 4,082 304,517 # Martin Marietta Materials, Inc. 2,100 205,989 Materion Corp. 2,000 59,620 #* McEwen Mining, Inc. 4,528 9,690 MeadWestvaco Corp. 10,516 366,483 * Mercer International, Inc. 3,933 31,464 Minerals Technologies, Inc. 3,638 206,020 #* Molycorp, Inc. 470 2,383 Mosaic Co. (The) 8,855 406,002 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ ----------- Materials -- (Continued) Myers Industries, Inc. 3,823 $ 68,126 Neenah Paper, Inc. 1,808 74,381 # NewMarket Corp. 300 93,408 Newmont Mining Corp. 12,455 339,523 Noranda Aluminum Holding Corp. 2,983 8,114 Nucor Corp. 14,149 732,494 # Olin Corp. 7,940 178,729 Olympic Steel, Inc. 600 16,422 * OM Group, Inc. 1,766 60,044 * OMNOVA Solutions, Inc. 5,202 45,257 * Owens-Illinois, Inc. 8,549 271,773 Packaging Corp. of America 5,569 346,837 * Penford Corp. 590 8,024 PH Glatfelter Co. 2,300 60,260 PolyOne Corp. 7,273 220,372 PPG Industries, Inc. 766 139,856 Praxair, Inc. 1,600 199,536 Quaker Chemical Corp. 1,000 75,910 Reliance Steel & Aluminum Co. 4,804 352,085 Rock Tenn Co. Class A 3,440 368,114 Rockwood Holdings, Inc. 4,389 277,604 # Royal Gold, Inc. 2,400 115,296 RPM International, Inc. 4,569 176,912 * RTI International Metals, Inc. 3,057 103,632 # Schnitzer Steel Industries, Inc. Class A 2,700 78,408 Scotts Miracle-Gro Co. (The) Class A 1,100 64,592 Sealed Air Corp. 11,888 358,780 Sensient Technologies Corp. 4,178 217,799 Sherwin-Williams Co. (The) 500 94,000 Silgan Holdings, Inc. 2,100 94,647 Sonoco Products Co. 6,242 253,675 Steel Dynamics, Inc. 20,176 362,563 Stepan Co. 1,652 97,253 #* Stillwater Mining Co. 10,155 110,791 * SunCoke Energy, Inc. 5,065 101,300 * Texas Industries, Inc. 2,079 111,642 Tronox, Ltd. Class A 2,966 68,485 * United States Lime & Minerals, Inc. 400 22,224 # United States Steel Corp. 11,099 276,254 * Universal Stainless & Alloy Products, Inc. 500 16,160 # US Silica Holdings, Inc. 1,011 35,203 Valspar Corp. (The) 1,101 77,037 Vulcan Materials Co. 5,800 310,590 # Walter Energy, Inc. 550 8,740 Wausau Paper Corp. 5,000 58,500 Westlake Chemical Corp. 3,155 338,910 Worthington Industries, Inc. 6,391 259,091 * WR Grace & Co. 800 73,328 Zep, Inc. 1,294 25,738 * Zoltek Cos., Inc. 2,600 43,420 ----------- Total Materials 21,279,849 ----------- U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------- ----------- Other -- (0.0%) (d)* Gerber Scientific, Inc. Escrow Shares 1,200 $ -- ----------- Telecommunication Services -- (2.3%) * 8x8, Inc. 1,219 13,970 Alteva 100 765 AT&T, Inc. 148,555 5,377,691 Atlantic Tele-Network, Inc. 1,279 70,882 * Boingo Wireless, Inc. 638 4,326 * Cbeyond, Inc. 2,307 14,857 CenturyLink, Inc. 13,736 465,101 * Cincinnati Bell, Inc. 10,767 30,794 # Consolidated Communications Holdings, Inc. 2,775 51,698 * Crown Castle International Corp. 1,500 114,030 # Frontier Communications Corp. 34,815 153,534 * General Communication, Inc. Class A 4,100 38,991 HickoryTech Corp. 1,100 14,718 IDT Corp. Class B 2,468 54,025 Inteliquent, Inc. 3,793 48,740 #* Iridium Communications, Inc. 4,837 29,167 * Leap Wireless International, Inc. 1,200 19,320 * Level 3 Communications, Inc. 2,448 74,786 Lumos Networks Corp. 900 19,809 #* NII Holdings, Inc. 4,601 15,827 #* ORBCOMM, Inc. 2,750 16,582 * Premiere Global Services, Inc. 4,670 42,077 PTGi Holding, Inc. 936 3,295 * SBA Communications Corp. Class A 1,500 131,205 Shenandoah Telecommunications Co. 1,444 40,042 #* Sprint Corp. 35,178 236,748 * Straight Path Communications, Inc. Class B 984 5,373 T-Mobile US, Inc. 6,705 185,930 Telephone & Data Systems, Inc. 10,022 312,486 * tw telecom, Inc. 5,396 170,082 United States Cellular Corp. 700 33,880 USA Mobility, Inc. 1,798 26,826 Verizon Communications, Inc. 45,675 2,307,044 * Vonage Holdings Corp. 10,376 38,702 # Windstream Holdings, Inc. 13,058 111,646 ----------- Total Telecommunication Services 10,274,949 ----------- Utilities -- (2.2%) AES Corp. 9,591 135,137 AGL Resources, Inc. 1,319 63,127 ALLETE, Inc. 1,900 96,007 Alliant Energy Corp. 1,175 61,359 Ameren Corp. 3,233 116,970 American Electric Power Co., Inc. 2,611 122,299 American States Water Co. 2,600 74,048 American Water Works Co., Inc. 1,982 84,968 Aqua America, Inc. 5,141 129,450 Artesian Resources Corp. Class A 400 9,160 Atmos Energy Corp. 2,794 123,690 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Utilities -- (Continued) Avista Corp. 2,922 $ 81,202 Black Hills Corp. 3,248 164,739 #* Cadiz, Inc. 300 1,545 California Water Service Group 3,500 76,300 * Calpine Corp. 17,289 348,719 CenterPoint Energy, Inc. 5,311 130,651 Chesapeake Utilities Corp. 500 27,205 Cleco Corp. 1,772 82,115 CMS Energy Corp. 3,000 82,380 Connecticut Water Service, Inc. 800 25,640 Consolidated Edison, Inc. 1,773 103,224 Consolidated Water Co., Ltd. 959 14,423 # Delta Natural Gas Co., Inc. 591 13,191 Dominion Resources, Inc. 3,699 235,811 DTE Energy Co. 2,100 145,194 Duke Energy Corp. 4,898 351,334 * Dynegy, Inc. 3,200 62,176 Edison International 1,998 97,962 El Paso Electric Co. 3,000 105,510 Empire District Electric Co. (The) 2,837 63,804 Entergy Corp. 2,321 150,215 Exelon Corp. 5,052 144,184 FirstEnergy Corp. 2,100 79,527 Gas Natural, Inc. 700 6,979 #* Genie Energy, Ltd. Class B 1,601 16,538 Great Plains Energy, Inc. 4,324 101,355 # Hawaiian Electric Industries, Inc. 2,699 71,712 IDACORP, Inc. 1,400 72,240 Integrys Energy Group, Inc. 2,195 128,803 ITC Holdings Corp. 1,543 155,210 Laclede Group, Inc. (The) 2,192 103,177 MDU Resources Group, Inc. 2,781 82,818 MGE Energy, Inc. 1,509 84,972 Middlesex Water Co. 748 15,506 National Fuel Gas Co. 800 57,240 New Jersey Resources Corp. 2,755 126,813 NextEra Energy, Inc. 2,771 234,842 NiSource, Inc. 3,585 112,999 Northeast Utilities 3,924 168,300 # Northwest Natural Gas Co. 1,777 77,175 NorthWestern Corp. 2,782 127,527 NRG Energy, Inc. 16,562 472,514 NV Energy, Inc. 2,500 59,350 OGE Energy Corp. 2,000 73,800 ONEOK, Inc. 6,530 368,945 Ormat Technologies, Inc. 2,600 67,782 # Otter Tail Corp. 2,643 78,841 Pepco Holdings, Inc. 2,789 53,772 PG&E Corp. 2,979 124,671 Piedmont Natural Gas Co., Inc. 2,461 84,019 Pinnacle West Capital Corp. 1,600 89,648 PNM Resources, Inc. 5,540 132,517 U.S. SOCIAL CORE EQUITY 2 PORTFOLIO CONTINUED SHARES VALUE+ --------- ------------ Utilities -- (Continued) Portland General Electric Co. 5,000 $ 143,500 PPL Corp. 3,311 101,416 Public Service Enterprise Group, Inc. 3,305 110,718 Questar Corp. 5,160 122,086 RGC Resources, Inc. 100 1,862 SCANA Corp. 1,702 79,364 Sempra Energy 1,253 114,198 SJW Corp. 1,548 43,700 # South Jersey Industries, Inc. 2,186 130,176 Southern Co. (The) 5,658 231,469 Southwest Gas Corp. 3,200 173,632 TECO Energy, Inc. 5,900 101,303 UGI Corp. 10,085 417,217 UIL Holdings Corp. 3,390 130,583 Unitil Corp. 1,246 37,654 UNS Energy Corp. 1,844 91,241 Vectren Corp. 2,548 88,976 # Westar Energy, Inc. 3,393 107,253 WGL Holdings, Inc. 1,871 84,214 Wisconsin Energy Corp. 2,570 108,223 Xcel Energy, Inc. 6,312 182,164 York Water Co. 462 9,568 ------------ Total Utilities 9,563,848 ------------ TOTAL COMMON STOCKS 409,126,390 ------------ RIGHTS/WARRANTS -- (0.0%) (d)* CVR Energy, Inc. Contingent Value Rights 4,700 -- (d)#* Magnum Hunter Resources Corp. Warrants 04/15/16 731 -- ------------ TOTAL RIGHTS/WARRANTS -- ------------ TEMPORARY CASH INVESTMENTS -- (0.4%) State Street Institutional Liquid Reserves, 0.073% 1,948,291 1,948,291 ------------ SHARES/ FACE AMOUNT (000) --------- SECURITIES LENDING COLLATERAL -- (7.2%) (S)@ DFA Short Term Investment Fund 2,748,699 31,802,446 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $328,887,608) $442,877,127 ============ U.S. SUSTAINABILITY CORE 1 PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 SHARES VALUE+ ------ ---------- COMMON STOCKS -- (93.1%) Consumer Discretionary -- (13.8%) * 1-800-Flowers.com, Inc. Class A 900 $ 4,887 Aaron's, Inc. 3,200 90,784 # Abercrombie & Fitch Co. Class A 2,903 108,804 Advance Auto Parts, Inc. 400 39,672 #* Aeropostale, Inc. 1,900 17,651 * AFC Enterprises, Inc. 391 17,431 AH Belo Corp. Class A 200 1,608 Allison Transmission Holdings, Inc. 1,316 32,045 * Amazon.com, Inc. 4,437 1,615,201 * AMC Networks, Inc. Class A 2,397 168,006 * America's Car-Mart, Inc. 200 9,148 #* American Apparel, Inc. 1,450 1,943 * American Axle & Manufacturing Holdings, Inc. 1,124 20,918 American Eagle Outfitters, Inc. 5,331 82,577 * American Public Education, Inc. 300 12,009 * ANN, Inc. 1,672 59,122 * Apollo Group, Inc. Class A 2,326 62,081 Arctic Cat, Inc. 500 26,200 * Asbury Automotive Group, Inc. 971 46,657 * Ascena Retail Group, Inc. 2,600 51,454 #* Ascent Capital Group, Inc. Class A 600 50,652 Autoliv, Inc. 2,197 196,038 * AutoNation, Inc. 2,800 135,044 * AutoZone, Inc. 500 217,345 #* Bally Technologies, Inc. 400 29,256 #* Barnes & Noble, Inc. 1,893 26,748 Bassett Furniture Industries, Inc. 500 7,000 bebe stores, Inc. 3,649 22,003 * Bed Bath & Beyond, Inc. 600 46,392 Belo Corp. Class A 4,422 60,714 Best Buy Co., Inc. 9,747 417,172 Big 5 Sporting Goods Corp. 911 17,227 * Big Lots, Inc. 3,000 109,080 * BJ's Restaurants, Inc. 928 25,112 * Blue Nile, Inc. 271 11,130 # Blyth, Inc. 400 5,524 Bob Evans Farms, Inc. 900 51,381 #* Books-A-Million, Inc. 300 753 BorgWarner, Inc. 2,900 299,077 #* Bridgepoint Education, Inc. 1,198 23,481 Brinker International, Inc. 500 22,210 #* Brookfield Residential Properties, Inc. 688 15,191 Brown Shoe Co., Inc. 1,800 40,392 Brunswick Corp. 1,365 61,602 # Buckle, Inc. (The) 933 45,661 * Buffalo Wild Wings, Inc. 600 85,548 * Build-A-Bear Workshop, Inc. 500 3,930 #* Cabela's, Inc. 1,758 104,285 Cablevision Systems Corp. Class A 4,559 70,892 * Cache, Inc. 271 1,634 # Callaway Golf Co. 2,913 24,557 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Consumer Discretionary -- (Continued) * Cambium Learning Group, Inc. 900 $ 1,314 * Capella Education Co. 200 12,184 * CarMax, Inc. 3,498 164,371 * Carmike Cinemas, Inc. 957 21,906 Carriage Services, Inc. 182 3,656 * Carrols Restaurant Group, Inc. 100 580 Carter's, Inc. 1,900 131,385 Cato Corp. (The) Class A 1,071 32,098 #* Cavco Industries, Inc. 300 17,571 CBS Corp. Class A 300 17,733 CBS Corp. Class B 5,410 319,947 CEC Entertainment, Inc. 412 19,096 #* Central European Media Enterprises, Ltd. Class A 2,252 6,914 * Charter Communications, Inc. Class A 741 99,472 Cheesecake Factory, Inc. (The) 1,700 80,325 Chico's FAS, Inc. 5,413 92,833 * Children's Place Retail Stores, Inc. (The) 785 42,853 * Chipotle Mexican Grill, Inc. 500 263,485 # Choice Hotels International, Inc. 800 37,272 * Christopher & Banks Corp. 600 3,462 Churchill Downs, Inc. 195 16,752 Cinemark Holdings, Inc. 4,200 137,802 * Citi Trends, Inc. 400 5,872 * Clear Channel Outdoor Holdings, Inc. Class A 2,200 18,700 Coach, Inc. 2,000 101,360 #* Coldwater Creek, Inc. 290 290 # Collectors Universe 299 4,978 Columbia Sportswear Co. 1,300 86,931 Comcast Corp. Class A 31,728 1,509,618 Comcast Corp. Special Class A 7,800 361,140 #* Conn's, Inc. 1,344 81,231 # Cooper Tire & Rubber Co. 1,175 30,562 Core-Mark Holding Co., Inc. 351 24,826 Cracker Barrel Old Country Store, Inc. 436 47,903 * Crocs, Inc. 2,687 32,728 CSS Industries, Inc. 242 6,265 # CST Brands, Inc. 109 3,514 CTC Media, Inc. 5,082 64,237 Culp, Inc. 400 7,740 * Cumulus Media, Inc. Class A 1,098 6,566 # Dana Holding Corp. 1,977 38,749 Darden Restaurants, Inc. 2,100 108,213 #* Deckers Outdoor Corp. 1,100 75,713 #* dELiA*s, Inc. 400 552 Delphi Automotive P.L.C. 2,900 165,880 * Delta Apparel, Inc. 231 4,366 Destination Maternity Corp. 400 12,496 * Destination XL Group, Inc. 900 6,255 DeVry, Inc. 2,799 100,484 Dick's Sporting Goods, Inc. 600 31,926 Dillard's, Inc. Class A 1,493 122,396 DineEquity, Inc. 700 57,449 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Consumer Discretionary -- (Continued) * DIRECTV 4,685 $292,766 * Discovery Communications, Inc. Class A 1,700 151,164 * Discovery Communications, Inc. Class C 2,074 171,541 DISH Network Corp. Class A 1,900 91,580 * Dollar General Corp. 2,900 167,562 * Dollar Tree, Inc. 2,400 140,160 Domino's Pizza, Inc. 1,351 90,598 Dorman Products, Inc. 923 44,867 DR Horton, Inc. 11,461 217,186 * DreamWorks Animation SKG, Inc. Class A 3,248 111,212 Drew Industries, Inc. 700 35,182 DSW, Inc. Class A 1,035 90,738 Dunkin' Brands Group, Inc. 2,900 138,272 #* Education Management Corp. 49 750 Einstein Noah Restaurant Group, Inc. 414 7,386 * Emerson Radio Corp. 900 1,719 #* Entercom Communications Corp. Class A 1,037 9,095 Entravision Communications Corp. Class A 1,600 10,784 # Ethan Allen Interiors, Inc. 979 26,081 * EW Scripps Co. Class A 1,807 35,815 Expedia, Inc. 1,582 93,148 * Express, Inc. 2,885 66,961 Family Dollar Stores, Inc. 1,000 68,880 * Federal-Mogul Corp. 2,329 47,721 * Fiesta Restaurant Group, Inc. 521 22,085 * Fifth & Pacific Cos., Inc. 5,827 154,357 Finish Line, Inc. (The) Class A 1,800 45,072 Foot Locker, Inc. 5,251 182,210 Ford Motor Co. 28,200 482,502 * Fossil Group, Inc. 1,049 133,160 Fred's, Inc. Class A 874 14,159 * Fuel Systems Solutions, Inc. 700 12,572 #* G-III Apparel Group, Ltd. 713 40,441 * Gaiam, Inc. Class A 700 4,389 GameStop Corp. Class A 3,070 168,297 Gaming Partners International Corp. 100 830 Gannett Co., Inc. 7,622 210,901 Gap, Inc. (The) 7,581 280,421 # Garmin, Ltd. 3,700 172,975 * Geeknet, Inc. 50 959 * General Motors Co. 9,600 354,720 * Genesco, Inc. 902 61,435 Gentex Corp. 2,500 73,600 * Gentherm, Inc. 1,200 28,020 GNC Holdings, Inc. Class A 1,881 110,640 Goodyear Tire & Rubber Co. (The) 5,000 104,900 Gordmans Stores, Inc. 317 3,138 * Grand Canyon Education, Inc. 503 23,777 * Gray Television, Inc. 2,313 19,545 Group 1 Automotive, Inc. 800 51,200 #* Groupon, Inc. 17,800 162,514 Guess?, Inc. 2,614 81,688 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Consumer Discretionary -- (Continued) H&R Block, Inc. 2,460 $ 69,962 Hanesbrands, Inc. 4,273 291,077 Harley-Davidson, Inc. 2,681 171,691 Harman International Industries, Inc. 1,976 160,096 Harte-Hanks, Inc. 1,956 15,589 # Hasbro, Inc. 3,114 160,838 Haverty Furniture Cos., Inc. 900 25,029 * Helen of Troy, Ltd. 1,346 62,885 #* Hibbett Sports, Inc. 400 23,332 Hillenbrand, Inc. 840 23,705 Home Depot, Inc. (The) 3,628 282,585 #* HomeAway, Inc. 2,300 68,195 Hooker Furniture Corp. 300 4,740 HSN, Inc. 1,155 60,522 * Hyatt Hotels Corp. Class A 1,252 59,595 #* Iconix Brand Group, Inc. 3,188 115,055 International Game Technology 3,600 67,680 International Speedway Corp. Class A 400 13,084 Interpublic Group of Cos., Inc. (The) 8,900 149,520 Interval Leisure Group, Inc. 1,171 28,420 #* iRobot Corp. 1,368 46,334 #* Isle of Capri Casinos, Inc. 339 2,749 #* ITT Educational Services, Inc. 500 20,060 * Jack in the Box, Inc. 1,360 55,325 # JAKKS Pacific, Inc. 496 3,194 * Jarden Corp. 750 41,520 #* JC Penney Co., Inc. 8,024 60,180 John Wiley & Sons, Inc. Class A 1,600 80,464 Johnson Controls, Inc. 10,887 502,435 Jones Group, Inc. (The) 4,566 70,956 * Jos A Bank Clothiers, Inc. 1,100 52,778 * Journal Communications, Inc. Class A 1,300 10,855 # KB Home 3,690 62,619 * Kid Brands, Inc. 500 698 * Kirkland's, Inc. 500 8,875 Kohl's Corp. 8,791 499,329 L Brands, Inc. 4,900 306,789 La-Z-Boy, Inc. 2,044 47,176 #* Lamar Advertising Co. Class A 3,062 139,964 Las Vegas Sands Corp. 3,041 213,539 #* LeapFrog Enterprises, Inc. 1,600 13,696 Lear Corp. 1,813 140,308 # Leggett & Platt, Inc. 5,817 172,998 # Lennar Corp. Class A 5,400 191,970 Lennar Corp. Class B 1,600 47,152 * Libbey, Inc. 300 6,405 * Liberty Global P.L.C. Class A 2,867 224,687 * Liberty Global P.L.C. Series C 3,692 276,383 * Liberty Interactive Corp. Class A 16,483 444,382 * Liberty Media Corp. Class A 4,635 708,738 * Liberty Media Corp. Class B 17 2,563 * Liberty Ventures Series A 774 83,104 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Consumer Discretionary -- (Continued) #* Life Time Fitness, Inc. 1,000 $ 45,420 Lifetime Brands, Inc. 500 7,830 * LIN Media LLC Class A 1,100 27,027 #* Lions Gate Entertainment Corp. 1,525 52,735 Lithia Motors, Inc. Class A 900 56,565 * Live Nation Entertainment, Inc. 8,415 163,588 * LKQ Corp. 8,810 290,994 Loral Space & Communications, Inc. 620 44,249 Lowe's Cos., Inc. 12,513 622,897 #* Lululemon Athletica, Inc. 1,667 115,106 #* Lumber Liquidators Holdings, Inc. 394 44,991 * M/I Homes, Inc. 700 14,329 Mac-Gray Corp. 400 8,432 Macy's, Inc. 9,700 447,267 * Madison Square Garden Co. (The) Class A 2,781 168,306 Marcus Corp. 300 4,308 Marine Products Corp. 700 6,559 #* MarineMax, Inc. 700 10,311 Marriott International, Inc. Class A 7,025 316,687 * Marriott Vacations Worldwide Corp. 496 24,840 * Martha Stewart Living Omnimedia Class A 700 1,792 Mattel, Inc. 4,087 181,340 Matthews International Corp. Class A 400 16,240 #* McClatchy Co. (The) Class A 2,425 6,839 McDonald's Corp. 4,200 405,384 MDC Holdings, Inc. 618 18,039 #* Media General, Inc. Class A 600 8,748 Men's Wearhouse, Inc. (The) 2,900 122,670 # Meredith Corp. 1,642 84,235 * Meritage Homes Corp. 1,400 63,546 #* MGM Resorts International 21,410 407,646 * Michael Kors Holdings, Ltd. 1,711 131,661 * Mohawk Industries, Inc. 3,800 503,196 # Monro Muffler Brake, Inc. 1,075 49,450 # Morningstar, Inc. 1,663 133,522 * Motorcar Parts of America, Inc. 440 6,019 # Movado Group, Inc. 805 37,537 * Murphy USA, Inc. 1,546 62,737 NACCO Industries, Inc. Class A 300 17,091 #* Nathan's Famous, Inc. 200 10,264 National CineMedia, Inc. 2,017 35,338 * Nautilus, Inc. 913 7,267 * Netflix, Inc. 600 193,488 * New York & Co., Inc. 1,300 6,656 # New York Times Co. (The) Class A 6,900 95,427 Newell Rubbermaid, Inc. 5,578 165,276 * News Corp. Class A 7,731 136,066 * News Corp. Class B 2,175 38,998 Nexstar Broadcasting Group, Inc. Class A 1,069 47,453 NIKE, Inc. Class B 10,988 832,451 # Nordstrom, Inc. 2,800 169,316 Nutrisystem, Inc. 400 7,520 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Consumer Discretionary -- (Continued) * NVR, Inc. 200 $183,464 * O'Reilly Automotive, Inc. 1,133 140,277 * Office Depot, Inc. 17,901 100,067 OfficeMax, Inc. 2,301 34,469 Omnicom Group, Inc. 3,867 263,381 * Orbitz Worldwide, Inc. 1,593 14,719 * Orient-Express Hotels, Ltd. Class A 1,409 18,754 #* Outerwall, Inc. 1,100 71,478 * Overstock.com, Inc. 299 7,006 Oxford Industries, Inc. 800 57,416 * Pacific Sunwear of California, Inc. 1,600 4,304 * Panera Bread Co. Class A 200 31,584 Papa John's International, Inc. 447 33,825 * Penn National Gaming, Inc. 1,320 77,233 Penske Automotive Group, Inc. 3,300 130,746 * Pep Boys-Manny Moe & Jack (The) 1,600 20,704 Perry Ellis International, Inc. 600 11,406 # PetMed Express, Inc. 500 7,420 # PetSmart, Inc. 1,100 80,036 Pier 1 Imports, Inc. 3,100 64,728 # Polaris Industries, Inc. 1,192 156,092 Pool Corp. 800 43,504 * priceline.com, Inc. 300 316,149 PulteGroup, Inc. 7,069 124,768 PVH Corp. 4,166 518,959 #* Quiksilver, Inc. 6,800 56,576 #* Radio One, Inc. Class D 897 2,691 #* RadioShack Corp. 1,955 5,494 Ralph Lauren Corp. 500 82,820 * Red Lion Hotels Corp. 171 1,029 * Red Robin Gourmet Burgers, Inc. 500 38,090 # Regal Entertainment Group Class A 4,994 94,936 # Regis Corp. 798 11,571 Rent-A-Center, Inc. 2,336 79,985 * Rentrak Corp. 200 7,498 RG Barry Corp. 400 7,632 Ross Stores, Inc. 1,000 77,350 Royal Caribbean Cruises, Ltd. 3,048 128,138 * Ruby Tuesday, Inc. 1,112 6,594 Ruth's Hospitality Group, Inc. 1,400 17,066 # Ryland Group, Inc. (The) 1,600 64,320 Saga Communications, Inc. Class A 133 6,332 * Saks, Inc. 5,700 91,143 Salem Communications Corp. Class A 400 3,304 * Sally Beauty Holdings, Inc. 3,806 100,174 # Scholastic Corp. 800 22,952 * Scientific Games Corp. Class A 1,408 25,738 Scripps Networks Interactive, Inc. Class A 1,500 120,750 #* Sears Holdings Corp. 3,684 213,967 * Select Comfort Corp. 800 14,656 Service Corp. International/US 3,943 71,013 * SHFL Entertainment, Inc. 750 17,385 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Consumer Discretionary -- (Continued) Shiloh Industries, Inc. 200 $ 3,284 Shoe Carnival, Inc. 870 22,611 * Shutterfly, Inc. 1,200 58,968 Signet Jewelers, Ltd. 2,511 187,471 Sinclair Broadcast Group, Inc. Class A 1,200 38,472 Sirius XM Radio, Inc. 36,864 138,977 Six Flags Entertainment Corp. 3,240 121,856 * Skechers U.S.A., Inc. Class A 1,833 53,414 * Skullcandy, Inc. 764 4,798 #* Skyline Corp. 100 437 Sonic Automotive, Inc. Class A 1,500 33,420 * Sonic Corp. 1,000 19,300 Sotheby's 620 32,178 # Stage Stores, Inc. 891 18,399 # Standard Motor Products, Inc. 900 32,544 #* Standard Pacific Corp. 7,538 59,776 * Stanley Furniture Co., Inc. 264 1,027 Staples, Inc. 26,269 423,456 Starbucks Corp. 9,600 778,080 Starwood Hotels & Resorts Worldwide, Inc. 2,955 217,547 * Starz Class A 4,635 139,745 * Starz Class B 17 514 Stein Mart, Inc. 1,256 18,551 * Steiner Leisure, Ltd. 252 14,117 * Steven Madden, Ltd. 2,854 104,666 Stewart Enterprises, Inc. Class A 949 12,536 * Stoneridge, Inc. 400 5,104 # Strayer Education, Inc. 203 8,025 # Sturm Ruger & Co., Inc. 489 31,986 Systemax, Inc. 600 5,700 Target Corp. 6,900 447,051 #* Tempur Sealy International, Inc. 1,100 42,185 * Tenneco, Inc. 400 21,228 #* Tesla Motors, Inc. 1,700 271,898 Texas Roadhouse, Inc. 2,219 60,845 Thor Industries, Inc. 1,400 81,214 Tiffany & Co. 3,178 251,602 Time Warner Cable, Inc. 3,936 472,910 Time Warner, Inc. 22,360 1,537,026 TJX Cos., Inc. 9,000 547,110 * Toll Brothers, Inc. 3,000 98,640 Town Sports International Holdings, Inc. 600 7,752 Tractor Supply Co. 2,400 171,240 Trans World Entertainment Corp. 1,000 4,330 * TripAdvisor, Inc. 1,600 132,336 * TRW Automotive Holdings Corp. 2,840 213,312 #* Tuesday Morning Corp. 1,000 14,150 # Tupperware Brands Corp. 2,350 210,678 Twenty-First Century Fox, Inc. Class A 30,924 1,053,890 Twenty-First Century Fox, Inc. Class B 8,700 295,800 * Ulta Salon Cosmetics & Fragrance, Inc. 900 115,965 #* Under Armour, Inc. Class A 1,400 113,610 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ ----------- Consumer Discretionary -- (Continued) #* Unifi, Inc. 690 $ 16,829 * Universal Electronics, Inc. 755 29,377 #* UQM Technologies, Inc. 252 391 * Urban Outfitters, Inc. 700 26,516 * US Auto Parts Network, Inc. 600 1,068 # Vail Resorts, Inc. 575 40,509 # Valassis Communications, Inc. 1,566 42,846 * Valuevision Media, Inc. Class A 500 2,670 #* Vera Bradley, Inc. 856 18,960 VF Corp. 1,464 314,760 Viacom, Inc. Class A 400 33,420 Viacom, Inc. Class B 5,161 429,860 * Visteon Corp. 129 9,945 * Vitamin Shoppe, Inc. 676 31,711 #* VOXX International Corp. 518 8,034 Walt Disney Co. (The) 23,614 1,619,684 # Washington Post Co. (The) Class B 200 128,664 Weight Watchers International, Inc. 1,686 54,137 Wendy's Co. (The) 11,815 102,672 * West Marine, Inc. 591 7,216 * Wet Seal, Inc. (The) Class A 3,500 11,585 Whirlpool Corp. 3,000 438,030 Williams-Sonoma, Inc. 4,117 215,896 * Winnebago Industries, Inc. 398 11,805 Wolverine World Wide, Inc. 1,500 86,610 World Wrestling Entertainment, Inc. Class A 1,025 13,274 Wyndham Worldwide Corp. 3,300 219,120 Yum! Brands, Inc. 2,287 154,647 * Zale Corp. 300 4,689 #* Zumiez, Inc. 1,100 32,604 ----------- Total Consumer Discretionary 44,057,286 ----------- Consumer Staples -- (6.8%) Alico, Inc. 229 9,151 Altria Group, Inc. 17,100 636,633 Andersons, Inc. (The) 545 40,428 Archer-Daniels-Midland Co. 7,539 308,345 Avon Products, Inc. 8,406 147,105 B&G Foods, Inc. 1,781 60,287 Beam, Inc. 3,764 253,317 * Boston Beer Co., Inc. (The) Class A 200 45,918 #* Boulder Brands, Inc. 1,367 22,405 Brown-Forman Corp. Class B 1,950 142,311 Cal-Maine Foods, Inc. 300 15,219 Calavo Growers, Inc. 140 4,157 # Campbell Soup Co. 6,013 255,973 Casey's General Stores, Inc. 800 58,304 * Central Garden and Pet Co. 300 2,277 * Central Garden and Pet Co. Class A 500 3,680 * Chefs' Warehouse, Inc. (The) 407 9,752 #* Chiquita Brands International, Inc. 1,200 12,420 Church & Dwight Co., Inc. 2,600 169,390 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Consumer Staples -- (Continued) # Clorox Co. (The) 2,648 $ 238,823 # Coca-Cola Bottling Co. Consolidated 130 8,232 Coca-Cola Co. (The) 30,130 1,192,244 Coca-Cola Enterprises, Inc. 7,928 330,835 Colgate-Palmolive Co. 11,748 760,448 ConAgra Foods, Inc. 7,264 231,068 * Constellation Brands, Inc. Class A 5,918 386,445 Costco Wholesale Corp. 7,202 849,836 * Craft Brew Alliance, Inc. 500 8,110 #* Crimson Wine Group, Ltd. 265 2,319 CVS Caremark Corp. 27,329 1,701,504 * Dean Foods Co. 4,921 95,959 * Dole Food Co., Inc. 1,404 19,024 Dr Pepper Snapple Group, Inc. 3,600 170,460 #* Elizabeth Arden, Inc. 900 32,571 Energizer Holdings, Inc. 1,828 179,345 Estee Lauder Cos., Inc. (The) Class A 3,800 269,648 Flowers Foods, Inc. 7,920 200,693 Fresh Del Monte Produce, Inc. 1,337 35,551 * Fresh Market, Inc. (The) 935 47,601 General Mills, Inc. 7,297 367,915 #* Green Mountain Coffee Roasters, Inc. 3,350 210,413 * Hain Celestial Group, Inc. (The) 1,127 93,800 Harris Teeter Supermarkets, Inc. 1,676 82,660 # Herbalife, Ltd. 1,000 64,820 Hershey Co. (The) 500 49,620 Hillshire Brands Co. 2,894 95,010 Hormel Foods Corp. 4,198 182,445 Ingles Markets, Inc. Class A 687 17,731 Ingredion, Inc. 1,360 89,434 Inter Parfums, Inc. 866 30,449 J&J Snack Foods Corp. 400 34,228 JM Smucker Co. (The) 3,279 364,658 John B Sanfilippo & Son, Inc. 84 2,065 Kellogg Co. 3,200 202,400 Kimberly-Clark Corp. 2,920 315,360 Kraft Foods Group, Inc. 7,461 405,729 Kroger Co. (The) 6,508 278,803 Lancaster Colony Corp. 337 27,968 Lorillard, Inc. 2,435 124,209 * Mannatech, Inc. 15 354 McCormick & Co., Inc. 2,576 178,130 Mead Johnson Nutrition Co. 636 51,936 #* Medifast, Inc. 500 11,655 Molson Coors Brewing Co. Class B 4,789 258,606 Mondelez International, Inc. Class A 25,986 874,169 * Monster Beverage Corp. 2,009 114,975 Nash Finch Co. 122 3,423 National Beverage Corp. 800 14,648 Nu Skin Enterprises, Inc. Class A 600 70,158 Oil-Dri Corp. of America 202 7,169 * Pantry, Inc. (The) 441 5,905 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ ----------- Consumer Staples -- (Continued) PepsiCo, Inc. 16,635 $ 1,398,837 Philip Morris International, Inc. 11,407 1,016,592 * Pilgrim's Pride Corp. 3,106 44,012 * Post Holdings, Inc. 1,218 52,313 * Prestige Brands Holdings, Inc. 1,900 59,337 # Pricesmart, Inc. 246 27,992 Procter & Gamble Co. (The) 27,571 2,226,358 # Reliv International, Inc. 400 1,012 * Revlon, Inc. Class A 1,321 31,374 Reynolds American, Inc. 5,600 287,672 * Rite Aid Corp. 11,227 59,840 Safeway, Inc. 10,882 379,782 Sanderson Farms, Inc. 500 31,605 * Seneca Foods Corp. Class A 129 3,782 Snyders-Lance, Inc. 2,204 66,098 # Spartan Stores, Inc. 564 13,271 Spectrum Brands Holdings, Inc. 2,061 135,861 #* Susser Holdings Corp. 653 35,811 # Sysco Corp. 6,009 194,331 # Tootsie Roll Industries, Inc. 1,309 41,888 * TreeHouse Foods, Inc. 964 70,623 * United Natural Foods, Inc. 911 65,091 * USANA Health Sciences, Inc. 400 27,292 Wal-Mart Stores, Inc. 6,304 483,832 Walgreen Co. 14,338 849,383 WD-40 Co. 400 28,996 # Weis Markets, Inc. 606 31,009 * WhiteWave Foods Co. Class A 6,094 121,941 Whole Foods Market, Inc. 7,000 441,910 ----------- Total Consumer Staples 21,816,478 ----------- Energy -- (9.9%) Adams Resources & Energy, Inc. 200 10,354 Alon USA Energy, Inc. 2,719 32,846 #* Alpha Natural Resources, Inc. 11,598 81,186 Anadarko Petroleum Corp. 6,803 648,258 Apache Corp. 5,512 489,466 #* Approach Resources, Inc. 1,205 33,921 # Arch Coal, Inc. 12,669 53,717 * Atwood Oceanics, Inc. 3,461 183,883 Baker Hughes, Inc. 8,936 519,092 #* Basic Energy Services, Inc. 1,715 25,159 Berry Petroleum Co. Class A 2,100 100,275 #* Bill Barrett Corp. 2,201 60,902 Bolt Technology Corp. 200 3,578 #* Bonanza Creek Energy, Inc. 752 38,006 #* BPZ Resources, Inc. 3,512 7,059 Bristow Group, Inc. 1,857 149,433 #* C&J Energy Services, Inc. 2,419 55,734 Cabot Oil & Gas Corp. 10,800 381,456 #* Cal Dive International, Inc. 2,777 5,471 * Callon Petroleum Co. 1,690 11,543 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Energy -- (Continued) * Cameron International Corp. 3,374 $ 185,098 # CARBO Ceramics, Inc. 700 87,738 #* Carrizo Oil & Gas, Inc. 2,023 88,688 * Cheniere Energy, Inc. 4,199 167,120 Chesapeake Energy Corp. 18,304 511,780 Chevron Corp. 19,201 2,303,352 Cimarex Energy Co. 2,658 280,020 * Clayton Williams Energy, Inc. 300 23,349 #* Clean Energy Fuels Corp. 2,990 34,056 * Cloud Peak Energy, Inc. 2,566 40,055 * Cobalt International Energy, Inc. 4,850 112,568 # Comstock Resources, Inc. 2,145 36,701 * Concho Resources, Inc. 3,500 387,135 ConocoPhillips 15,515 1,137,249 # CONSOL Energy, Inc. 6,139 224,073 Contango Oil & Gas Co. 759 32,529 #* Continental Resources, Inc. 1,100 125,290 Core Laboratories NV 600 112,332 Crosstex Energy, Inc. 2,100 64,449 * Dawson Geophysical Co. 300 8,772 # Delek US Holdings, Inc. 2,589 66,149 * Denbury Resources, Inc. 13,018 247,212 Devon Energy Corp. 6,504 411,183 # DHT Holdings, Inc. 612 3,140 # Diamond Offshore Drilling, Inc. 3,884 240,536 * Double Eagle Petroleum Co. 400 1,112 * Dresser-Rand Group, Inc. 2,700 164,079 * Dril-Quip, Inc. 1,320 154,994 #* Endeavour International Corp. 1,675 9,950 Energen Corp. 2,564 200,812 # Energy XXI Bermuda, Ltd. 3,420 99,385 * ENGlobal Corp. 600 660 EOG Resources, Inc. 4,564 814,218 * EPL Oil & Gas, Inc. 1,850 58,978 EQT Corp. 2,610 223,442 * Era Group, Inc. 900 28,440 * Evolution Petroleum Corp. 400 4,824 #* Exterran Holdings, Inc. 3,388 96,727 Exxon Mobil Corp. 37,767 3,384,679 * FMC Technologies, Inc. 3,900 197,145 * Gastar Exploration, Ltd. 2,370 10,238 * Geospace Technologies Corp. 400 38,968 #* Global Geophysical Services, Inc. 1,335 3,191 * Goodrich Petroleum Corp. 370 8,654 Green Plains Renewable Energy, Inc. 1,300 20,969 * Gulf Coast Ultra Deep Royalty Trust 6,415 15,524 Gulf Island Fabrication, Inc. 600 15,132 Gulfmark Offshore, Inc. Class A 1,300 64,714 * Gulfport Energy Corp. 2,960 173,722 #* Halcon Resources Corp. 1,890 9,790 Halliburton Co. 10,157 538,626 #* Harvest Natural Resources, Inc. 1,569 7,845 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Energy -- (Continued) * Helix Energy Solutions Group, Inc. 5,415 $ 128,119 # Helmerich & Payne, Inc. 3,900 302,445 * Hercules Offshore, Inc. 7,529 51,197 Hess Corp. 4,571 371,165 * HKN, Inc. 8 596 HollyFrontier Corp. 5,693 262,220 * Hornbeck Offshore Services, Inc. 1,690 93,406 * Houston American Energy Corp. 397 103 #* ION Geophysical Corp. 7,078 32,842 #* James River Coal Co. 1,300 2,496 #* Key Energy Services, Inc. 4,827 37,747 Kinder Morgan, Inc. 13,384 472,589 * Kodiak Oil & Gas Corp. 9,416 122,126 * Kosmos Energy, Ltd. 1,756 18,719 * Laredo Petroleum Holdings, Inc. 3,379 107,351 #* Lone Pine Resources, Inc. 1,260 29 #* Magnum Hunter Resources Corp. 3,583 25,547 Marathon Oil Corp. 11,243 396,428 Marathon Petroleum Corp. 5,587 400,364 * Matrix Service Co. 1,260 26,195 #* McDermott International, Inc. 8,851 62,577 #* Miller Energy Resources, Inc. 372 2,515 * Mitcham Industries, Inc. 226 3,761 Murphy Oil Corp. 6,186 373,140 Nabors Industries, Ltd. 12,842 224,478 National Oilwell Varco, Inc. 5,192 421,487 * Natural Gas Services Group, Inc. 400 11,196 * Newfield Exploration Co. 7,554 230,019 * Newpark Resources, Inc. 4,042 51,535 Noble Corp. 11,683 440,449 Noble Energy, Inc. 4,844 362,961 # Nordic American Tankers, Ltd. 60 490 #* Northern Oil and Gas, Inc. 2,405 39,514 #* Nuverra Environmental Solutions, Inc. 11,351 27,696 * Oasis Petroleum, Inc. 3,585 190,901 Occidental Petroleum Corp. 10,871 1,044,486 Oceaneering International, Inc. 3,400 291,992 * Oil States International, Inc. 2,418 262,667 Panhandle Oil and Gas, Inc. Class A 200 6,714 * Parker Drilling Co. 5,444 39,197 Patterson-UTI Energy, Inc. 6,286 152,498 * PDC Energy, Inc. 1,658 112,429 Peabody Energy Corp. 8,164 159,035 * Penn Virginia Corp. 4,203 35,768 * PetroQuest Energy, Inc. 2,500 11,800 * PHI, Inc. 505 20,109 Phillips 66 8,162 525,878 * Pioneer Energy Services Corp. 3,078 25,855 Pioneer Natural Resources Co. 3,009 616,183 QEP Resources, Inc. 6,074 200,806 Range Resources Corp. 2,900 219,559 # Rentech, Inc. 6,215 10,628 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ ----------- Energy -- (Continued) * Rex Energy Corp. 2,322 $ 49,923 * RigNet, Inc. 471 17,361 * Rosetta Resources, Inc. 1,900 113,886 * Rowan Cos. P.L.C. Class A 5,087 183,539 # RPC, Inc. 5,625 103,162 #* SandRidge Energy, Inc. 19,866 125,950 Schlumberger, Ltd. 21,117 1,979,085 SEACOR Holdings, Inc. 900 88,020 SemGroup Corp. Class A 1,695 102,361 Ship Finance International, Ltd. 2,989 49,468 SM Energy Co. 2,978 263,881 * Southwestern Energy Co. 7,654 284,882 Spectra Energy Corp. 7,100 252,547 * Steel Excel, Inc. 300 8,325 * Stone Energy Corp. 1,800 62,748 * Superior Energy Services, Inc. 7,836 210,240 #* Swift Energy Co. 900 12,348 * Synergy Resources Corp. 974 10,091 Targa Resources Corp. 987 76,552 # Teekay Corp. 4,093 177,759 Tesoro Corp. 1,000 48,890 #* TETRA Technologies, Inc. 3,259 42,269 TGC Industries, Inc. 694 5,115 Tidewater, Inc. 2,293 138,084 # Transocean, Ltd. 7,118 335,044 * Triangle Petroleum Corp. 1,612 17,039 #* Ultra Petroleum Corp. 5,812 106,708 * Unit Corp. 2,369 121,790 #* Uranium Energy Corp. 455 801 #* USEC, Inc. 90 725 #* Vaalco Energy, Inc. 2,200 11,594 Valero Energy Corp. 1,749 72,006 # W&T Offshore, Inc. 3,407 65,040 * Warren Resources, Inc. 2,562 8,019 #* Weatherford International, Ltd. 28,038 460,945 # Western Refining, Inc. 3,300 106,491 * Westmoreland Coal Co. 400 5,684 * Whiting Petroleum Corp. 4,201 281,005 * Willbros Group, Inc. 2,838 27,699 Williams Cos., Inc. (The) 6,400 228,544 # World Fuel Services Corp. 4,212 160,688 #* WPX Energy, Inc. 6,253 138,441 ----------- Total Energy 31,753,487 ----------- Financials -- (15.2%) 1st Source Corp. 589 18,483 1st United Bancorp Inc/Boca Raton 188 1,436 ACE, Ltd. 5,521 526,924 * Affiliated Managers Group, Inc. 600 118,464 Aflac, Inc. 5,500 357,390 * Alexander & Baldwin, Inc. 1,818 67,266 * Alleghany Corp. 608 246,495 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Financials -- (Continued) Allied World Assurance Co. Holdings AG 822 $ 89,014 Allstate Corp. (The) 9,275 492,131 * Altisource Asset Management Corp. 50 31,984 * Altisource Portfolio Solutions SA 500 78,640 Altisource Residential Corp. 166 4,411 * American Capital, Ltd. 8,118 113,733 # American Equity Investment Life Holding Co. 2,258 47,057 American Express Co. 9,376 766,957 American Financial Group, Inc. 3,769 212,044 American International Group, Inc. 7,375 380,919 American National Insurance Co. 600 60,642 Ameriprise Financial, Inc. 2,606 262,007 * Ameris Bancorp 460 8,418 AMERISAFE, Inc. 720 27,720 # Amtrust Financial Services, Inc. 3,027 116,116 Aon P.L.C. 2,773 219,317 * Arch Capital Group, Ltd. 4,136 239,723 Argo Group International Holdings, Ltd. 500 20,990 Arrow Financial Corp. 532 13,731 Arthur J Gallagher & Co. 2,500 118,625 Aspen Insurance Holdings, Ltd. 2,133 83,208 Associated Banc-Corp. 3,427 55,723 Assurant, Inc. 2,700 157,896 Assured Guaranty, Ltd. 5,469 112,114 Asta Funding, Inc. 300 2,574 # Astoria Financial Corp. 4,005 52,906 * Atlantic Coast Financial Corp. 39 152 #* Atlanticus Holdings Corp. 202 705 * AV Homes, Inc. 93 1,776 Axis Capital Holdings, Ltd. 3,885 184,227 Baldwin & Lyons, Inc. Class B 322 8,800 Banc of California, Inc. 350 4,938 # Bancfirst Corp. 614 34,120 * Bancorp, Inc. 911 14,731 # BancorpSouth, Inc. 3,266 72,179 Bank Mutual Corp. 1,600 10,176 Bank of America Corp. 200,476 2,798,645 # Bank of Hawaii Corp. 1,445 83,781 # Bank of Montreal 282 19,655 Bank of New York Mellon Corp. (The) 19,117 607,921 Bank of the Ozarks, Inc. 1,026 50,766 BankFinancial Corp. 500 4,645 BankUnited, Inc. 3,130 96,310 Banner Corp. 661 25,290 BB&T Corp. 7,705 261,739 BBCN Bancorp, Inc. 2,952 43,778 #* BBX Capital Corp. Class A 166 2,190 * Beneficial Mutual Bancorp, Inc. 2,921 28,480 Berkshire Hills Bancorp, Inc. 517 13,116 BGC Partners, Inc. Class A 4,003 21,296 BlackRock, Inc. 1,345 404,589 * BofI Holding, Inc. 540 32,627 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Financials -- (Continued) BOK Financial Corp. 695 $ 42,555 Boston Private Financial Holdings, Inc. 2,818 32,097 # Brookline Bancorp, Inc. 2,477 21,971 Brown & Brown, Inc. 3,900 124,527 Bryn Mawr Bank Corp. 239 6,659 Calamos Asset Management, Inc. Class A 500 4,910 Camden National Corp. 200 8,070 * Capital Bank Financial Corp. Class A 25 555 * Capital City Bank Group, Inc. 200 2,460 Capital One Financial Corp. 9,044 621,051 CapitalSource, Inc. 8,560 111,965 Capitol Federal Financial, Inc. 6,023 76,311 Cardinal Financial Corp. 1,000 16,500 # Cash America International, Inc. 1,200 47,340 Cathay General Bancorp 2,951 72,683 CBOE Holdings, Inc. 1,665 80,752 * CBRE Group, Inc. Class A 5,174 120,192 Center Bancorp, Inc. 336 5,027 Centerstate Banks, Inc. 500 4,930 # Central Pacific Financial Corp. 1,019 18,770 Charles Schwab Corp. (The) 9,809 222,174 Chemical Financial Corp. 706 20,679 Chubb Corp. (The) 3,820 351,746 Cincinnati Financial Corp. 4,312 215,600 * CIT Group, Inc. 6,003 289,104 Citigroup, Inc. 69,150 3,373,137 #* Citizens, Inc. 1,605 13,482 # City Holding Co. 600 27,300 City National Corp. 800 57,688 Clifton Savings Bancorp, Inc. 307 3,877 CME Group, Inc. 1,800 133,578 CNA Financial Corp. 2,800 113,652 CNB Financial Corp. 200 4,002 CNO Financial Group, Inc. 7,390 115,136 CoBiz Financial, Inc. 800 8,680 # Cohen & Steers, Inc. 402 15,421 Columbia Banking System, Inc. 1,879 48,272 Comerica, Inc. 6,293 272,487 Commerce Bancshares, Inc. 3,443 158,412 # Community Bank System, Inc. 1,480 53,739 Community Trust Bancorp, Inc. 504 21,465 * Cowen Group, Inc. Class A 828 3,287 Crawford & Co. Class A 53 441 Crawford & Co. Class B 686 7,539 * Credit Acceptance Corp. 757 89,553 # Cullen/Frost Bankers, Inc. 1,141 80,771 # CVB Financial Corp. 3,700 53,798 * DFC Global Corp. 1,315 15,911 Dime Community Bancshares, Inc. 1,300 21,268 Discover Financial Services 3,053 158,390 Donegal Group, Inc. Class A 642 10,176 #* E*TRADE Financial Corp. 4,100 69,331 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Financials -- (Continued) East West Bancorp, Inc. 5,018 $169,056 Eastern Insurance Holdings, Inc. 200 4,888 Eaton Vance Corp. 1,500 62,715 * eHealth, Inc. 500 21,310 EMC Insurance Group, Inc. 430 14,637 Employers Holdings, Inc. 1,000 30,070 #* Encore Capital Group, Inc. 1,364 66,631 Endurance Specialty Holdings, Ltd. 1,812 100,185 #* Enstar Group, Ltd. 500 67,965 Enterprise Financial Services Corp. 430 7,753 Erie Indemnity Co. Class A 735 52,788 ESSA Bancorp, Inc. 400 4,384 Evercore Partners, Inc. Class A 800 40,376 Everest Re Group, Ltd. 1,300 199,862 * Ezcorp, Inc. Class A 1,020 16,045 FBL Financial Group, Inc. Class A 800 35,792 Federal Agricultural Mortgage Corp. Class C 301 10,743 # Federated Investors, Inc. Class B 1,300 35,256 Federated National Holding Co. Class C 200 2,050 Fidelity National Financial, Inc. Class A 4,800 135,120 Fifth Third Bancorp 8,123 154,581 Financial Institutions, Inc. 300 7,101 * First Acceptance Corp. 1,000 1,700 First American Financial Corp. 3,984 103,026 * First BanCorp 5,979 33,183 First Bancorp 600 8,988 First Busey Corp. 2,827 14,616 * First Cash Financial Services, Inc. 757 45,791 First Commonwealth Financial Corp. 4,114 35,751 First Community Bancshares, Inc. 500 8,345 First Defiance Financial Corp. 222 5,732 First Financial Bancorp 1,807 28,045 # First Financial Bankshares, Inc. 950 58,434 First Financial Corp. 422 14,576 First Financial Holdings, Inc. 732 43,869 # First Financial Northwest, Inc. 400 4,336 First Interstate Bancsystem, Inc. 286 7,181 First Merchants Corp. 466 8,761 First Midwest Bancorp, Inc. 2,533 42,124 First Niagara Financial Group, Inc. 6,394 70,526 * First Place Financial Corp. 400 1 First Republic Bank 4,299 219,550 * First South Bancorp, Inc. 200 1,352 FirstMerit Corp. 4,644 104,304 * Flagstar Bancorp, Inc. 804 13,033 Flushing Financial Corp. 799 16,052 FNB Corp. 5,192 64,952 * Forest City Enterprises, Inc. Class A 6,068 122,938 * Forestar Group, Inc. 800 17,864 Fox Chase Bancorp, Inc. 147 2,539 Franklin Resources, Inc. 4,500 242,370 Fulton Financial Corp. 7,551 92,198 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Financials -- (Continued) FXCM, Inc. Class A 316 $ 5,179 GAMCO Investors, Inc. Class A 100 7,151 * Genworth Financial, Inc. Class A 23,205 337,169 German American Bancorp, Inc. 254 6,904 GFI Group, Inc. 2,588 8,980 Glacier Bancorp, Inc. 2,610 72,114 #* Gleacher & Co., Inc. 52 685 * Global Indemnity P.L.C. 450 11,083 Goldman Sachs Group, Inc. (The) 6,831 1,098,835 # Great Southern Bancorp, Inc. 300 8,424 * Green Dot Corp. Class A 747 16,031 Greenhill & Co., Inc. 779 39,963 * Greenlight Capital Re, Ltd. Class A 1,100 33,869 Guaranty Bancorp 120 1,620 * Hallmark Financial Services, Inc. 500 4,255 # Hampden Bancorp, Inc. 100 1,720 Hancock Holding Co. 1,429 46,843 Hanmi Financial Corp. 1,188 20,766 Hanover Insurance Group, Inc. (The) 1,839 107,655 * Harris & Harris Group, Inc. 1,200 3,756 Hartford Financial Services Group, Inc. 17,108 576,540 HCC Insurance Holdings, Inc. 2,826 129,007 # HCI Group, Inc. 300 13,182 Heartland Financial USA, Inc. 435 11,523 Heritage Commerce Corp. 441 3,435 Heritage Financial Group, Inc. 167 2,869 HFF, Inc. Class A 1,233 30,270 * Hilltop Holdings, Inc. 2,526 43,801 * Home Bancorp, Inc. 196 3,561 # Home BancShares, Inc. 2,076 70,335 Home Federal Bancorp, Inc. 290 4,521 Horace Mann Educators Corp. 1,341 37,146 * Howard Hughes Corp. (The) 683 79,945 Hudson Valley Holding Corp. 261 4,826 Huntington Bancshares, Inc. 9,647 84,894 Iberiabank Corp. 1,126 65,792 * ICG Group, Inc. 1,306 21,301 Independence Holding Co. 330 4,528 # Independent Bank Corp. 700 25,116 Interactive Brokers Group, Inc. Class A 1,595 32,905 #* IntercontinentalExchange, Inc. 1,900 366,187 International Bancshares Corp. 2,616 59,776 #* INTL. FCStone, Inc. 459 9,391 Invesco, Ltd. 13,515 456,131 * Investment Technology Group, Inc. 1,000 16,020 Investors Bancorp, Inc. 3,967 94,058 # Janus Capital Group, Inc. 7,729 76,285 JMP Group, Inc. 400 2,564 Jones Lang LaSalle, Inc. 1,600 152,320 JPMorgan Chase & Co. 62,359 3,213,983 * KCG Holdings, Inc. Class A 208 1,818 #* Kearny Financial Corp. 900 9,450 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Financials -- (Continued) Kemper Corp. 2,152 $ 79,667 Kennedy-Wilson Holdings, Inc. 2,041 40,902 KeyCorp 23,198 290,671 # Lakeland Bancorp, Inc. 1,417 16,154 Lakeland Financial Corp. 500 17,795 Lazard, Ltd. Class A 1,883 72,778 # Legg Mason, Inc. 8,127 312,646 Leucadia National Corp. 8,251 233,833 Life Partners Holdings, Inc. 312 630 Lincoln National Corp. 4,700 213,427 Loews Corp. 300 14,493 LPL Financial Holdings, Inc. 1,825 74,350 M&T Bank Corp. 3,175 357,283 Maiden Holdings, Ltd. 1,756 19,228 MainSource Financial Group, Inc. 700 11,354 * Markel Corp. 358 189,622 MarketAxess Holdings, Inc. 800 52,184 Marlin Business Services Corp. 342 9,429 Marsh & McLennan Cos., Inc. 5,434 248,877 * Maui Land & Pineapple Co., Inc. 300 1,278 MB Financial, Inc. 1,811 53,787 #* MBIA, Inc. 7,816 88,868 * MBT Financial Corp. 300 1,152 MCG Capital Corp. 2,400 11,304 McGraw-Hill Cos., Inc. (The) 3,314 230,920 Meadowbrook Insurance Group, Inc. 1,600 10,624 Medallion Financial Corp. 600 9,108 Mercury General Corp. 2,001 93,167 * Meridian Interstate Bancorp, Inc. 478 11,348 MetLife, Inc. 18,692 884,319 * Metro Bancorp, Inc. 400 8,536 * MGIC Investment Corp. 3,341 27,196 Montpelier Re Holdings, Ltd. 1,800 49,698 Moody's Corp. 2,097 148,174 Morgan Stanley 31,284 898,789 * MSCI, Inc. 2,953 120,394 NASDAQ OMX Group, Inc. (The) 2,605 92,295 # National Interstate Corp. 500 13,065 National Penn Bancshares, Inc. 5,514 57,180 * Navigators Group, Inc. (The) 533 29,976 NBT Bancorp, Inc. 1,133 27,611 Nelnet, Inc. Class A 1,300 55,419 # New York Community Bancorp, Inc. 13,095 212,270 * NewBridge Bancorp 300 2,238 * NewStar Financial, Inc. 1,500 26,115 Northeast Community Bancorp, Inc. 300 2,265 Northern Trust Corp. 10,062 567,698 Northfield Bancorp, Inc. 2,004 25,912 Northwest Bancshares, Inc. 3,449 48,252 NYSE Euronext 2,726 119,999 OceanFirst Financial Corp. 597 10,501 * Ocwen Financial Corp. 2,649 148,953 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Financials -- (Continued) OFG Bancorp 1,501 $ 22,230 Old National Bancorp 1,600 23,264 Old Republic International Corp. 6,763 113,551 * Old Second Bancorp, Inc. 300 1,431 * OmniAmerican Bancorp, Inc. 438 9,601 OneBeacon Insurance Group, Ltd. Class A 822 13,119 Oritani Financial Corp. 2,070 33,575 Pacific Continental Corp. 400 5,512 PacWest Bancorp 1,378 52,433 Park National Corp. 600 47,532 Park Sterling Corp. 1,039 6,764 PartnerRe, Ltd. 1,500 150,315 # People's United Financial, Inc. 6,814 98,326 Peoples Bancorp, Inc. 300 6,726 #* PHH Corp. 2,035 48,942 * Phoenix Cos., Inc. (The) 130 5,014 * PICO Holdings, Inc. 641 15,051 #* Pinnacle Financial Partners, Inc. 1,087 33,697 * Piper Jaffray Cos. 400 14,356 Platinum Underwriters Holdings, Ltd. 1,322 82,215 PNC Financial Services Group, Inc. (The) 7,051 518,460 * Popular, Inc. 3,757 94,864 * Portfolio Recovery Associates, Inc. 2,400 142,680 Primerica, Inc. 2,242 96,294 #* Primus Guaranty, Ltd. 500 5,050 Principal Financial Group, Inc. 11,126 528,040 # PrivateBancorp, Inc. 2,885 70,279 ProAssurance Corp. 2,591 117,424 Progressive Corp. (The) 7,590 197,112 # Prosperity Bancshares, Inc. 2,000 124,900 Protective Life Corp. 2,279 105,016 Provident Financial Services, Inc. 2,132 39,954 Prudential Financial, Inc. 7,777 632,970 Radian Group, Inc. 1,600 23,312 Raymond James Financial, Inc. 2,315 105,680 Regions Financial Corp. 32,798 315,845 Reinsurance Group of America, Inc. 1,867 132,893 RenaissanceRe Holdings, Ltd. 1,600 149,936 Renasant Corp. 684 19,617 Republic Bancorp, Inc. Class A 338 7,781 * Republic First Bancorp, Inc. 200 630 Resource America, Inc. Class A 551 4,755 * Riverview Bancorp, Inc. 100 266 RLI Corp. 840 79,363 Rockville Financial, Inc. 760 9,994 #* Roma Financial Corp. 600 11,676 S&T Bancorp, Inc. 953 23,368 #* Safeguard Scientifics, Inc. 719 12,547 Safety Insurance Group, Inc. 500 27,345 Sandy Spring Bancorp, Inc. 703 17,216 #* Seacoast Banking Corp. of Florida 2,810 6,407 SEI Investments Co. 2,470 81,979 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Financials -- (Continued) Selective Insurance Group, Inc. 2,025 $ 53,197 Sierra Bancorp 700 13,251 * Signature Bank 1,300 132,366 Simmons First National Corp. Class A 700 22,918 Simplicity Bancorp, Inc. 100 1,568 SLM Corp. 2,545 64,567 (d) Southern Community Financial 300 66 # Southside Bancshares, Inc. 695 18,973 * Southwest Bancorp, Inc. 200 3,202 * St Joe Co. (The) 1,702 31,776 StanCorp Financial Group, Inc. 2,281 134,351 State Auto Financial Corp. 800 15,200 State Street Corp. 10,000 700,700 StellarOne Corp. 500 11,640 * Sterling Bancorp(859158107) 1,100 16,225 Sterling Bancorp(85917A100) 1,000 11,720 Stewart Information Services Corp. 700 21,924 #* Stifel Financial Corp. 2,194 89,844 * Suffolk Bancorp 100 1,955 * Sun Bancorp, Inc. 201 663 SunTrust Banks, Inc. 4,780 160,799 Susquehanna Bancshares, Inc. 7,653 90,191 * SVB Financial Group 1,700 162,826 #* SWS Group, Inc. 700 3,941 SY Bancorp, Inc. 564 16,926 Symetra Financial Corp. 3,608 67,578 Synovus Financial Corp. 28,014 91,045 T Rowe Price Group, Inc. 1,636 126,643 * Taylor Capital Group, Inc. 494 11,362 TCF Financial Corp. 6,235 94,647 TD Ameritrade Holding Corp. 5,192 141,534 * Tejon Ranch Co. 400 14,808 Territorial Bancorp, Inc. 368 8,026 * Texas Capital Bancshares, Inc. 1,414 73,599 * TFS Financial Corp. 3,709 45,027 Thomas Properties Group, Inc. 667 4,536 Tompkins Financial Corp. 520 25,646 Torchmark Corp. 2,271 165,465 Tower Group International, Ltd. 1,315 4,773 # TowneBank 320 4,659 Travelers Cos., Inc. (The) 6,200 535,060 Tree.com, Inc. 172 5,076 Trico Bancshares 400 10,116 # TrustCo Bank Corp. 3,609 24,252 Trustmark Corp. 2,320 63,011 U.S. Bancorp 22,168 828,196 UMB Financial Corp. 1,447 85,257 # Umpqua Holdings Corp. 4,349 71,193 # Union First Market Bankshares Corp. 910 21,949 # United Bankshares, Inc. 1,775 52,504 * United Community Banks, Inc. 2,088 32,552 United Financial Bancorp, Inc. 559 8,765 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ ----------- Financials -- (Continued) United Fire Group, Inc. 930 $ 29,481 Universal Insurance Holdings, Inc. 1,435 11,250 Univest Corp. of Pennsylvania 628 12,541 Unum Group 8,400 266,616 Validus Holdings, Ltd. 2,829 111,689 # Valley National Bancorp 7,408 72,228 ViewPoint Financial Group, Inc. 1,477 32,213 * Virginia Commerce Bancorp, Inc. 747 11,974 * Virtus Investment Partners, Inc. 305 62,074 Waddell & Reed Financial, Inc. Class A 1,100 67,925 * Walker & Dunlop, Inc. 646 8,385 Washington Banking Co. 400 6,804 Washington Federal, Inc. 3,765 85,767 Washington Trust Bancorp, Inc. 460 15,129 #* Waterstone Financial, Inc. 700 7,448 Webster Financial Corp. 3,005 83,809 Wells Fargo & Co. 88,485 3,777,425 WesBanco, Inc. 833 24,490 West BanCorp., Inc. 300 4,146 # Westamerica BanCorp. 618 31,815 * Western Alliance Bancorp 2,804 59,305 Westfield Financial, Inc. 900 6,489 Westwood Holdings Group, Inc. 96 5,120 Willis Group Holdings P.L.C. 2,269 102,264 Wilshire Bancorp, Inc. 2,391 20,252 Wintrust Financial Corp. 1,297 56,432 #* World Acceptance Corp. 400 41,648 WR Berkley Corp. 2,502 109,863 WSFS Financial Corp. 82 5,741 XL Group P.L.C. 13,031 398,358 * Yadkin Financial Corp. 96 1,576 Zions BanCorp. 4,695 133,197 * ZipRealty, Inc. 700 3,850 ----------- Total Financials 48,485,451 ----------- Health Care -- (10.9%) Abaxis, Inc. 400 14,292 Abbott Laboratories 11,400 416,670 AbbVie, Inc. 11,400 552,330 * ABIOMED, Inc. 85 2,038 #* Accuray, Inc. 2,534 17,104 * Acorda Therapeutics, Inc. 1,507 46,129 * Actavis P.L.C. 2,504 387,068 #* Aegerion Pharmaceuticals, Inc. 143 11,843 Aetna, Inc. 8,334 522,542 #* Affymax, Inc. 900 1,017 #* Affymetrix, Inc. 1,997 14,119 Agilent Technologies, Inc. 4,100 208,116 # Air Methods Corp. 1,706 74,586 #* Akorn, Inc. 483 9,873 #* Albany Molecular Research, Inc. 956 12,524 * Alere, Inc. 4,703 158,632 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Health Care -- (Continued) * Align Technology, Inc. 1,878 $107,159 * Alkermes P.L.C. 3,904 137,382 Allergan, Inc. 4,600 416,806 * Allscripts Healthcare Solutions, Inc. 10,304 142,504 Almost Family, Inc. 158 3,038 #* Alnylam Pharmaceuticals, Inc. 926 53,347 * Alphatec Holdings, Inc. 583 1,061 * AMAG Pharmaceuticals, Inc. 80 2,158 #* Amedisys, Inc. 1,824 29,695 AmerisourceBergen Corp. 3,184 208,011 Amgen, Inc. 7,174 832,184 * AMN Healthcare Services, Inc. 2,472 30,653 * Amsurg Corp. 1,512 64,850 Analogic Corp. 500 46,115 * AngioDynamics, Inc. 377 5,926 * Anika Therapeutics, Inc. 680 20,312 #* Ariad Pharmaceuticals, Inc. 2,271 4,996 * ArthroCare Corp. 1,048 39,237 #* athenahealth, Inc. 765 102,135 #* Baxano Surgical, Inc. 300 363 Baxter International, Inc. 5,400 355,698 Becton Dickinson and Co. 2,500 262,825 * Bio-Rad Laboratories, Inc. Class A 200 24,704 #* Bio-Reference Labs, Inc. 1,000 32,410 * Biogen Idec, Inc. 2,800 683,732 * BioMarin Pharmaceutical, Inc. 600 37,692 * BioScrip, Inc. 3,131 21,948 * BioTelemetry, Inc. 640 5,850 * Boston Scientific Corp. 62,279 728,041 * Bovie Medical Corp. 300 768 Bristol-Myers Squibb Co. 17,431 915,476 #* Brookdale Senior Living, Inc. 5,222 141,412 * Bruker Corp. 4,940 101,023 * Cambrex Corp. 713 11,993 Cantel Medical Corp. 1,605 56,335 * Capital Senior Living Corp. 1,099 24,376 Cardinal Health, Inc. 4,500 263,970 * CareFusion Corp. 7,097 275,151 * Celgene Corp. 4,200 623,658 #* Celldex Therapeutics, Inc. 1,699 38,924 * Centene Corp. 1,900 106,704 #* Cepheid, Inc. 1,000 40,720 * Cerner Corp. 2,222 124,499 * Charles River Laboratories International, Inc. 1,098 54,033 # Chemed Corp. 700 47,474 * Chindex International, Inc. 393 6,614 Cigna Corp. 5,298 407,840 Community Health Systems, Inc. 5,091 222,120 # Computer Programs & Systems, Inc. 184 10,495 CONMED Corp. 1,261 45,736 Cooper Cos., Inc. (The) 2,104 271,858 * Corvel Corp. 866 36,026 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Health Care -- (Continued) #* Covance, Inc. 1,146 $ 102,292 Covidien P.L.C. 4,400 282,084 CR Bard, Inc. 1,254 170,820 * Cross Country Healthcare, Inc. 700 4,158 CryoLife, Inc. 900 8,091 * Cubist Pharmaceuticals, Inc. 661 40,982 * Cumberland Pharmaceuticals, Inc. 290 1,418 #* Cutera, Inc. 527 5,296 * Cyberonics, Inc. 600 34,656 * Cynosure, Inc. Class A 826 17,850 * DaVita HealthCare Partners, Inc. 3,604 202,581 DENTSPLY International, Inc. 2,400 113,040 * Edwards Lifesciences Corp. 1,734 113,039 Eli Lilly & Co. 6,785 338,029 * Emergent Biosolutions, Inc. 1,107 21,620 * Emeritus Corp. 948 18,164 * Endo Health Solutions, Inc. 2,700 118,071 Ensign Group, Inc. (The) 738 31,424 * Enzo Biochem, Inc. 646 1,609 Enzon Pharmaceuticals, Inc. 1,612 2,386 * Exactech, Inc. 500 11,350 * ExamWorks Group, Inc. 1,045 27,013 * Express Scripts Holding Co. 9,782 611,571 * Five Star Quality Care, Inc. 1,814 9,197 * Forest Laboratories, Inc. 5,730 269,482 * Furiex Pharmaceuticals, Inc. 175 6,842 * Gentiva Health Services, Inc. 1,425 16,316 * Gilead Sciences, Inc. 16,228 1,152,026 * Greatbatch, Inc. 1,002 38,196 * Haemonetics Corp. 2,427 98,439 * Hanger, Inc. 1,400 51,380 * Harvard Bioscience, Inc. 600 3,534 HCA Holdings, Inc. 3,474 163,764 * Health Management Associates, Inc. Class A 11,318 145,097 * Health Net, Inc. 3,580 108,832 # HealthSouth Corp. 2,233 78,401 * HealthStream, Inc. 600 21,432 * Healthways, Inc. 1,491 14,358 * Henry Schein, Inc. 1,951 219,351 Hi-Tech Pharmacal Co., Inc. 500 21,545 Hill-Rom Holdings, Inc. 2,079 85,842 * HMS Holdings Corp. 353 7,459 * Hologic, Inc. 9,359 209,548 #* Hospira, Inc. 5,640 228,533 Humana, Inc. 6,709 618,234 * ICU Medical, Inc. 660 40,788 #* IDEXX Laboratories, Inc. 800 86,288 #* Illumina, Inc. 1,676 156,723 * Impax Laboratories, Inc. 2,100 42,546 * Incyte Corp., Ltd. 4,210 164,190 * Infinity Pharmaceuticals, Inc. 498 6,748 #* Integra LifeSciences Holdings Corp. 1,064 48,710 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Health Care -- (Continued) Invacare Corp. 890 $ 19,108 #* IPC The Hospitalist Co., Inc. 573 31,395 #* Isis Pharmaceuticals, Inc. 1,958 65,143 * Jazz Pharmaceuticals P.L.C. 1,800 163,332 Johnson & Johnson 30,243 2,800,804 Kindred Healthcare, Inc. 2,179 30,245 * Laboratory Corp. of America Holdings 900 90,810 Landauer, Inc. 260 12,584 * Lannett Co., Inc. 400 9,444 LeMaitre Vascular, Inc. 500 4,020 * LHC Group, Inc. 689 14,193 * Life Technologies Corp. 7,324 551,570 * LifePoint Hospitals, Inc. 2,976 153,681 #* Luminex Corp. 897 17,491 * Magellan Health Services, Inc. 1,296 76,075 * Mallinckrodt P.L.C. 550 23,105 Masimo Corp. 2,577 66,023 McKesson Corp. 2,433 380,375 * MedAssets, Inc. 3,169 72,982 (d)* MedCath Corp. 117 160 * Medical Action Industries, Inc. 300 1,818 * Medicines Co. (The) 1,638 55,561 * Medidata Solutions, Inc. 224 24,709 * Medivation, Inc. 928 55,550 #* MEDNAX, Inc. 2,400 261,648 Medtronic, Inc. 13,479 773,695 Merck & Co., Inc. 39,796 1,794,402 # Meridian Bioscience, Inc. 854 21,111 * Merit Medical Systems, Inc. 1,779 28,446 * Mettler-Toledo International, Inc. 300 74,238 * Molina Healthcare, Inc. 2,336 73,911 * Momenta Pharmaceuticals, Inc. 1,446 23,700 * MWI Veterinary Supply, Inc. 430 68,215 * Mylan, Inc. 3,419 129,478 #* Myriad Genetics, Inc. 2,499 60,926 National Healthcare Corp. 500 24,190 * Natus Medical, Inc. 1,182 23,321 * NPS Pharmaceuticals, Inc. 861 24,780 * NuVasive, Inc. 1,987 63,147 Omnicare, Inc. 4,650 256,447 * Omnicell, Inc. 1,529 35,274 #* Opko Health, Inc. 6,200 62,124 * OraSure Technologies, Inc. 625 4,075 * Orthofix International NV 449 9,200 # Owens & Minor, Inc. 3,014 112,784 * PAREXEL International Corp. 1,794 82,004 Patterson Cos., Inc. 3,919 166,597 * PDI, Inc. 200 954 # PDL BioPharma, Inc. 4,450 36,000 PerkinElmer, Inc. 4,931 187,575 Perrigo Co. 764 105,348 Pfizer, Inc. 48,189 1,478,438 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Health Care -- (Continued) * PharMerica Corp. 1,213 $ 17,904 #* PhotoMedex, Inc. 6 76 * Pozen, Inc. 739 4,645 #* Progenics Pharmaceuticals, Inc. 924 3,363 * Providence Service Corp. (The) 447 13,361 Quality Systems, Inc. 1,799 41,053 Quest Diagnostics, Inc. 3,376 202,256 # Questcor Pharmaceuticals, Inc. 1,000 61,370 #* Quidel Corp. 1,116 27,565 * RadNet, Inc. 600 1,470 * Regeneron Pharmaceuticals, Inc. 754 216,850 #* Repligen Corp. 989 10,820 # ResMed, Inc. 2,676 138,456 * Rigel Pharmaceuticals, Inc. 1,688 5,216 * Rochester Medical Corp. 271 5,415 * RTI Biologics, Inc. 2,790 7,784 * Salix Pharmaceuticals, Ltd. 1,190 85,382 #* Sangamo Biosciences, Inc. 26 244 * Santarus, Inc. 674 15,724 * Sciclone Pharmaceuticals, Inc. 1,491 7,052 #* Seattle Genetics, Inc. 1,709 66,019 Select Medical Holdings Corp. 5,549 47,056 * Sirona Dental Systems, Inc. 2,500 180,625 #* Skilled Healthcare Group, Inc. Class A 700 2,982 * Solta Medical, Inc. 2,296 4,248 * Spectranetics Corp. 600 12,534 Spectrum Pharmaceuticals, Inc. 1,060 9,105 St Jude Medical, Inc. 3,829 219,746 * Staar Surgical Co. 500 6,620 STERIS Corp. 2,672 120,748 Stryker Corp. 2,500 184,650 * SurModics, Inc. 714 16,836 * Symmetry Medical, Inc. 1,706 13,819 * Taro Pharmaceutical Industries, Ltd. 127 9,950 * Team Health Holdings, Inc. 1,765 76,672 # Teleflex, Inc. 1,814 167,215 * Tenet Healthcare Corp. 3,197 150,866 #* Theravance, Inc. 1,661 60,859 Thermo Fisher Scientific, Inc. 5,117 500,340 * Thoratec Corp. 2,700 116,613 * Tornier NV 218 4,689 #* Triple-S Management Corp. Class B 800 14,248 #* United Therapeutics Corp. 300 26,556 UnitedHealth Group, Inc. 21,670 1,479,194 Universal American Corp. 2,009 14,907 Universal Health Services, Inc. Class B 1,943 156,528 US Physical Therapy, Inc. 424 13,534 * Varian Medical Systems, Inc. 1,719 124,765 * Vascular Solutions, Inc. 600 11,772 * VCA Antech, Inc. 4,571 130,045 * Vertex Pharmaceuticals, Inc. 1,922 137,115 * ViroPharma, Inc. 2,336 90,684 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ ----------- Health Care -- (Continued) * Waters Corp. 1,800 $ 181,656 * WellCare Health Plans, Inc. 1,400 93,352 WellPoint, Inc. 6,525 553,320 West Pharmaceutical Services, Inc. 3,200 154,720 * Wright Medical Group, Inc. 1,822 49,504 #* XenoPort, Inc. 111 581 Zimmer Holdings, Inc. 5,344 467,440 Zoetis, Inc. 15,188 480,852 ----------- Total Health Care 34,789,442 ----------- Industrials -- (11.8%) 3M Co. 5,334 671,284 AAON, Inc. 1,125 30,386 AAR Corp. 1,540 45,091 ABM Industries, Inc. 2,500 68,775 # Acacia Research Corp. 1,906 28,762 * ACCO Brands Corp. 4,257 24,903 * Accuride Corp. 1,902 8,559 Aceto Corp. 1,000 15,950 # Acorn Energy, Inc. 200 752 Actuant Corp. Class A 3,519 132,174 # Acuity Brands, Inc. 600 60,306 # ADT Corp. (The) 6,133 265,988 * Advisory Board Co. (The) 600 41,160 * AECOM Technology Corp. 4,952 157,375 * Aegion Corp. 1,353 27,737 * Aerovironment, Inc. 903 24,480 AGCO Corp. 3,296 192,420 * Air Transport Services Group, Inc. 1,100 7,964 Aircastle, Ltd. 2,100 39,627 Alamo Group, Inc. 659 31,098 Alaska Air Group, Inc. 1,373 97,016 # Albany International Corp. Class A 1,347 49,583 Allegiant Travel Co. 500 52,135 Alliant Techsystems, Inc. 1,532 166,789 # Altra Holdings, Inc. 968 29,398 AMERCO 573 115,706 * Ameresco, Inc. Class A 546 5,711 # American Railcar Industries, Inc. 800 32,768 American Science & Engineering, Inc. 300 19,734 #* American Superconductor Corp. 439 957 * American Woodmark Corp. 400 13,568 AMETEK, Inc. 3,543 169,462 Ampco-Pittsburgh Corp. 357 6,572 AO Smith Corp. 4,400 227,260 Apogee Enterprises, Inc. 1,700 53,176 Applied Industrial Technologies, Inc. 2,374 112,314 * ARC Document Solutions, Inc. 1,755 10,951 Argan, Inc. 422 9,390 Arkansas Best Corp. 843 23,073 * Armstrong World Industries, Inc. 1,596 85,274 Astec Industries, Inc. 1,000 33,810 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Industrials -- (Continued) * Astronics Corp. 253 $ 12,412 * Astronics Corp. Class B 51 2,443 * Atlas Air Worldwide Holdings, Inc. 786 29,106 * Avis Budget Group, Inc. 2,896 90,732 AZZ, Inc. 1,009 45,304 * B/E Aerospace, Inc. 2,400 194,784 Babcock & Wilcox Co. (The) 3,044 98,047 Barnes Group, Inc. 2,050 72,857 Barrett Business Services, Inc. 297 24,731 * Beacon Roofing Supply, Inc. 1,989 69,038 Belden, Inc. 1,640 110,306 * Blount International, Inc. 900 10,962 #* BlueLinx Holdings, Inc. 1,514 2,816 Boeing Co. (The) 4,800 626,400 Brady Corp. Class A 1,950 56,920 # Briggs & Stratton Corp. 2,000 36,680 Brink's Co. (The) 2,100 65,940 * Builders FirstSource, Inc. 800 5,928 * CAI International, Inc. 425 9,303 Carlisle Cos., Inc. 1,958 142,307 * Casella Waste Systems, Inc. Class A 900 5,319 Caterpillar, Inc. 5,600 466,816 * CBIZ, Inc. 2,496 20,367 CDI Corp. 500 8,025 # Ceco Environmental Corp. 721 12,726 Celadon Group, Inc. 500 9,270 # CH Robinson Worldwide, Inc. 1,698 101,439 #* Chart Industries, Inc. 1,000 107,470 Chicago Bridge & Iron Co. NV 1,099 81,425 Cintas Corp. 3,600 193,572 CIRCOR International, Inc. 600 44,262 CLARCOR, Inc. 1,400 81,872 #* Clean Harbors, Inc. 1,500 92,625 * CNH Industrial NV 888 10,416 Coleman Cable, Inc. 153 3,764 * Colfax Corp. 3,202 179,184 * Columbus McKinnon Corp. 699 18,181 Comfort Systems USA, Inc. 1,453 27,069 * Commercial Vehicle Group, Inc. 1,000 7,870 Con-way, Inc. 1,365 56,238 * Consolidated Graphics, Inc. 480 30,763 * Copart, Inc. 3,600 116,028 Corporate Executive Board Co. (The) 778 56,716 Courier Corp. 400 6,796 Covanta Holding Corp. 2,200 37,774 * CPI Aerostructures, Inc. 300 3,720 * CRA International, Inc. 400 7,620 Crane Co. 704 44,704 # Cubic Corp. 956 50,190 Cummins, Inc. 2,740 348,035 Curtiss-Wright Corp. 233 11,599 Danaher Corp. 4,950 356,845 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Industrials -- (Continued) Deere & Co. 4,611 $377,364 Delta Air Lines, Inc. 10,054 265,225 Deluxe Corp. 2,128 100,208 * DigitalGlobe, Inc. 2,667 84,864 * Dolan Co. (The) 1,291 3,318 Donaldson Co., Inc. 4,000 158,440 Douglas Dynamics, Inc. 841 12,758 Dover Corp. 3,270 300,153 * Ducommun, Inc. 200 4,972 # Dun & Bradstreet Corp. (The) 2,115 230,091 #* DXP Enterprises, Inc. 400 36,760 * Dycom Industries, Inc. 1,200 35,580 Dynamic Materials Corp. 497 10,984 Eaton Corp. P.L.C. 10,226 721,547 #* Echo Global Logistics, Inc. 662 12,187 EMCOR Group, Inc. 2,901 107,511 Emerson Electric Co. 9,583 641,774 Encore Wire Corp. 782 38,732 * Energy Recovery, Inc. 975 5,694 * EnerNOC, Inc. 1,220 20,289 EnerSys, Inc. 2,000 132,700 * Engility Holdings, Inc. 441 13,658 Ennis, Inc. 1,000 17,750 #* EnPro Industries, Inc. 801 47,796 Equifax, Inc. 2,400 155,208 # ESCO Technologies, Inc. 1,418 51,161 * Esterline Technologies Corp. 1,300 104,208 Exelis, Inc. 7,490 123,510 Expeditors International of Washington, Inc. 3,885 175,952 Exponent, Inc. 300 22,683 # Fastenal Co. 4,596 228,881 * Federal Signal Corp. 2,530 34,636 FedEx Corp. 2,758 361,298 * Flow International Corp. 800 3,192 Flowserve Corp. 2,400 166,728 Fluor Corp. 3,089 229,266 Fortune Brands Home & Security, Inc. 2,238 96,413 Forward Air Corp. 400 16,192 * Franklin Covey Co. 400 7,520 # Franklin Electric Co., Inc. 1,662 62,907 FreightCar America, Inc. 400 8,896 * FTI Consulting, Inc. 1,955 79,334 * Fuel Tech, Inc. 100 453 * Furmanite Corp. 1,258 14,153 G&K Services, Inc. Class A 393 24,523 GATX Corp. 1,274 65,675 #* Genco Shipping & Trading, Ltd. 1,212 3,236 * Gencor Industries, Inc. 300 2,739 #* GenCorp, Inc. 1,473 24,746 Generac Holdings, Inc. 2,221 109,606 General Cable Corp. 2,001 65,893 General Dynamics Corp. 2,700 233,901 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Industrials -- (Continued) General Electric Co. 131,590 $3,439,763 * Genesee & Wyoming, Inc. Class A 1,761 175,818 * Gibraltar Industries, Inc. 1,224 19,596 Global Power Equipment Group, Inc. 464 9,447 Gorman-Rupp Co. (The) 700 28,518 * GP Strategies Corp. 904 25,330 Graco, Inc. 1,100 84,986 #* GrafTech International, Ltd. 2,201 19,589 Graham Corp. 488 17,963 Granite Construction, Inc. 1,548 50,078 Great Lakes Dredge & Dock Corp. 2,200 17,864 * Greenbrier Cos., Inc. 1,486 39,438 Griffon Corp. 1,790 22,429 * H&E Equipment Services, Inc. 1,296 32,439 Harsco Corp. 3,652 101,818 #* Hawaiian Holdings, Inc. 1,300 10,725 Heartland Express, Inc. 2,788 40,036 # HEICO Corp. 985 52,776 HEICO Corp. Class A 1,431 55,761 Heidrick & Struggles International, Inc. 505 9,353 Herman Miller, Inc. 1,088 33,010 * Hertz Global Holdings, Inc. 18,360 421,546 * Hexcel Corp. 3,195 135,180 * Hill International, Inc. 1,100 3,784 HNI Corp. 1,663 64,608 Houston Wire & Cable Co. 600 8,322 * Hub Group, Inc. Class A 800 29,384 Hubbell, Inc. Class B 1,724 185,399 * Hudson Global, Inc. 800 2,600 Huntington Ingalls Industries, Inc. 1,601 114,552 Hurco Cos., Inc. 200 4,898 * Huron Consulting Group, Inc. 770 45,099 Hyster-Yale Materials Handling, Inc. 600 47,064 #* ICF International, Inc. 997 34,516 IDEX Corp. 2,800 193,620 #* IHS, Inc. Class A 800 87,240 * II-VI, Inc. 2,048 34,939 Illinois Tool Works, Inc. 1,500 118,185 Ingersoll-Rand P.L.C. 6,258 422,603 * InnerWorkings, Inc. 1,200 11,484 Innovative Solutions & Support, Inc. 300 2,364 Insperity, Inc. 771 29,815 Insteel Industries, Inc. 594 9,854 * Integrated Electrical Services, Inc. 300 1,398 # Interface, Inc. 1,796 36,369 # International Shipholding Corp. 200 4,964 # Intersections, Inc. 600 5,142 Iron Mountain, Inc. 2,068 54,885 ITT Corp. 4,202 166,945 * Jacobs Engineering Group, Inc. 5,606 340,957 JB Hunt Transport Services, Inc. 1,000 75,030 #* JetBlue Airways Corp. 11,449 81,173 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Industrials -- (Continued) John Bean Technologies Corp. 808 $ 21,961 # Joy Global, Inc. 1,800 102,150 Kaman Corp. 1,003 37,292 Kansas City Southern 1,900 230,888 KAR Auction Services, Inc. 5,451 162,004 KBR, Inc. 5,160 178,226 Kelly Services, Inc. Class A 1,714 35,754 Kennametal, Inc. 2,119 97,474 Kforce, Inc. 1,128 22,210 Kimball International, Inc. Class B 1,135 13,280 #* Kirby Corp. 2,083 184,325 Knight Transportation, Inc. 3,100 52,607 Knoll, Inc. 1,852 30,410 * Korn/Ferry International 1,978 47,076 * Kratos Defense & Security Solutions, Inc. 330 2,798 L-3 Communications Holdings, Inc. 2,690 270,210 Landstar System, Inc. 600 33,174 * Lawson Products, Inc. 196 2,572 * Layne Christensen Co. 712 13,770 LB Foster Co. Class A 400 18,700 Lennox International, Inc. 731 57,062 Lincoln Electric Holdings, Inc. 2,700 186,948 # Lindsay Corp. 550 41,806 * LMI Aerospace, Inc. 400 6,280 Lockheed Martin Corp. 3,100 413,354 LSI Industries, Inc. 600 5,526 * Lydall, Inc. 500 9,110 * Magnetek, Inc. 50 906 Manitowoc Co., Inc. (The) 5,541 107,828 Manpowergroup, Inc. 3,651 285,143 Marten Transport, Ltd. 906 15,982 Masco Corp. 7,200 152,136 #* MasTec, Inc. 2,659 85,008 Matson, Inc. 65 1,761 # McGrath RentCorp 818 29,178 * Meritor, Inc. 2,442 16,777 * Middleby Corp. 500 113,825 Miller Industries, Inc. 400 7,496 Mine Safety Appliances Co. 1,225 58,996 * Mistras Group, Inc. 854 15,679 #* Mobile Mini, Inc. 1,713 61,874 * Moog, Inc. Class A 1,847 110,321 * MRC Global, Inc. 10 280 MSC Industrial Direct Co., Inc. Class A 700 53,459 Mueller Industries, Inc. 900 54,261 Mueller Water Products, Inc. Class A 5,594 47,941 Multi-Color Corp. 435 15,151 * MYR Group, Inc. 900 23,805 National Presto Industries, Inc. 235 16,579 * Navigant Consulting, Inc. 1,346 23,353 #* Navistar International Corp. 1,385 50,082 * NCI Building Systems, Inc. 700 10,101 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Industrials -- (Continued) Nielsen Holdings NV 9,156 $361,113 NN, Inc. 316 5,081 Nordson Corp. 1,400 100,926 * Nortek, Inc. 254 17,823 Northrop Grumman Corp. 3,000 322,530 * Northwest Pipe Co. 261 9,404 * Ocean Power Technologies, Inc. 200 470 * Old Dominion Freight Line, Inc. 3,300 154,770 Omega Flex, Inc. 93 1,892 * On Assignment, Inc. 1,588 53,659 * Orbital Sciences Corp. 2,694 62,151 * Orion Energy Systems, Inc. 600 2,550 * Orion Marine Group, Inc. 1,426 17,825 * Oshkosh Corp. 4,319 205,541 #* Owens Corning 6,280 225,640 PACCAR, Inc. 2,400 133,440 * Pacer International, Inc. 1,613 12,872 Pall Corp. 2,113 170,139 PAM Transportation Services, Inc. 100 1,740 * Park-Ohio Holdings Corp. 300 12,423 Parker Hannifin Corp. 1,600 186,752 * Patrick Industries, Inc. 377 11,793 * Pendrell Corp. 2,782 6,204 Pentair, Ltd. 9,636 646,479 * PGT, Inc. 625 6,531 Pike Electric Corp. 1,262 13,642 # Pitney Bowes, Inc. 3,903 83,290 #* Polypore International, Inc. 1,867 84,388 * Powell Industries, Inc. 428 26,891 * PowerSecure International, Inc. 800 14,464 Precision Castparts Corp. 581 147,254 Primoris Services Corp. 1,616 42,081 Quad/Graphics, Inc. 969 33,837 * Quality Distribution, Inc. 400 4,112 Quanex Building Products Corp. 1,226 21,798 * Quanta Services, Inc. 6,633 200,383 # Raven Industries, Inc. 600 20,016 Raytheon Co. 4,500 370,665 * RBC Bearings, Inc. 700 48,153 Regal-Beloit Corp. 1,939 142,187 * Republic Airways Holdings, Inc. 1,333 15,703 Resources Connection, Inc. 1,538 19,625 * Roadrunner Transportation Systems, Inc. 650 17,225 Robert Half International, Inc. 2,644 101,873 Rockwell Automation, Inc. 2,800 309,148 Rockwell Collins, Inc. 2,156 150,553 Rollins, Inc. 1,750 48,370 Roper Industries, Inc. 2,420 306,880 * RPX Corp. 1,671 29,844 RR Donnelley & Sons Co. 9,659 179,368 * Rush Enterprises, Inc. Class A 887 25,386 Ryder System, Inc. 2,798 184,192 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Industrials -- (Continued) * Saia, Inc. 700 $ 22,771 Schawk, Inc. 600 8,772 * Sensata Technologies Holding NV 1,967 74,018 Simpson Manufacturing Co., Inc. 2,239 79,373 SkyWest, Inc. 1,371 20,620 SL Industries, Inc. 100 2,700 Snap-on, Inc. 2,327 242,171 Southwest Airlines Co. 24,471 421,391 * Sparton Corp. 143 3,774 #* Spirit Aerosystems Holdings, Inc. Class A 4,604 122,881 * Spirit Airlines, Inc. 1,586 68,436 SPX Corp. 2,340 212,261 #* Standard Parking Corp. 400 10,588 #* Standard Register Co. (The) 120 1,020 Standex International Corp. 521 32,047 Stanley Black & Decker, Inc. 6,094 481,974 Steelcase, Inc. Class A 2,650 43,434 * Stericycle, Inc. 588 68,326 * Sterling Construction Co., Inc. 400 3,840 Sun Hydraulics Corp. 900 35,712 #* Swift Transportation Co. 1,965 42,817 # TAL International Group, Inc. 1,400 67,634 * Taser International, Inc. 1,400 24,878 * Team, Inc. 600 22,374 #* Tecumseh Products Co. Class A 400 3,120 * Teledyne Technologies, Inc. 1,101 97,791 Tennant Co. 600 36,414 * Terex Corp. 5,091 177,930 * Tetra Tech, Inc. 2,501 65,351 # Textainer Group Holdings, Ltd. 1,838 69,660 Textron, Inc. 6,205 178,642 * Thermon Group Holdings, Inc. 951 22,358 Timken Co. 2,900 153,149 # Titan International, Inc. 1,654 23,983 #* Titan Machinery, Inc. 1,000 17,640 Toro Co. (The) 1,000 58,940 Towers Watson & Co. Class A 1,555 178,530 TransDigm Group, Inc. 1,000 145,410 * TRC Cos., Inc. 500 3,845 #* Trex Co., Inc. 400 28,088 * Trimas Corp. 1,369 51,830 Trinity Industries, Inc. 2,300 116,449 Triumph Group, Inc. 2,200 157,630 * TrueBlue, Inc. 1,673 41,323 * Tutor Perini Corp. 1,982 45,487 Twin Disc, Inc. 300 7,761 Tyco International, Ltd. 6,502 237,648 * Ultralife Corp. 200 780 UniFirst Corp. 600 61,692 Union Pacific Corp. 446 67,524 * United Continental Holdings, Inc. 6,748 229,095 United Parcel Service, Inc. Class B 5,739 563,799 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ ----------- Industrials -- (Continued) #* United Rentals, Inc. 2,871 $ 185,438 United Stationers, Inc. 1,810 80,436 United Technologies Corp. 9,486 1,007,887 # Universal Forest Products, Inc. 700 37,044 URS Corp. 3,026 164,070 * US Airways Group, Inc. 1,400 30,758 US Ecology, Inc. 600 21,330 #* USG Corp. 1,700 46,427 UTi Worldwide, Inc. 2,500 38,000 Valmont Industries, Inc. 797 111,978 * Verisk Analytics, Inc. Class A 2,392 163,900 * Versar, Inc. 489 2,313 Viad Corp. 809 21,600 * Vicor Corp. 600 5,286 * Volt Information Sciences, Inc. 500 4,350 VSE Corp. 151 6,614 #* Wabash National Corp. 1,846 21,524 * WABCO Holdings, Inc. 1,483 127,063 Wabtec Corp. 3,200 208,608 # Waste Connections, Inc. 3,588 153,351 Watsco, Inc. 1,400 133,406 # Watts Water Technologies, Inc. Class A 1,100 63,558 # Werner Enterprises, Inc. 1,314 30,432 * Wesco Aircraft Holdings, Inc. 494 9,050 #* WESCO International, Inc. 1,785 152,546 * Willis Lease Finance Corp. 78 1,360 Woodward, Inc. 1,978 79,298 WW Grainger, Inc. 405 108,933 * XPO Logistics, Inc. 385 7,769 Xylem, Inc. 3,586 123,717 ----------- Total Industrials 37,518,767 ----------- Information Technology -- (15.6%) #* 3D Systems Corp. 1,800 112,032 * Accelrys, Inc. 1,845 17,251 Accenture P.L.C. Class A 11,246 826,581 * ACI Worldwide, Inc. 1,129 62,230 Activision Blizzard, Inc. 4,400 73,216 * Actuate Corp. 1,433 11,478 * Acxiom Corp. 2,815 93,542 * Adobe Systems, Inc. 6,689 362,544 ADTRAN, Inc. 2,106 49,449 * Advanced Energy Industries, Inc. 980 20,462 #* Advanced Micro Devices, Inc. 17,440 58,250 Advent Software, Inc. 2,500 83,875 * Agilysys, Inc. 761 8,942 * Akamai Technologies, Inc. 715 31,989 #* Alliance Data Systems Corp. 600 142,236 * Alpha & Omega Semiconductor, Ltd. 249 1,833 Altera Corp. 4,061 136,450 Amdocs, Ltd. 4,603 176,985 American Software, Inc. Class A 400 3,500 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Information Technology -- (Continued) #* Amkor Technology, Inc. 768 $ 4,078 Amphenol Corp. Class A 800 64,232 * Amtech Systems, Inc. 200 1,600 Analog Devices, Inc. 2,976 146,717 * Anaren, Inc. 400 9,992 * Anixter International, Inc. 1,157 98,912 * ANSYS, Inc. 1,200 104,940 AOL, Inc. 3,607 130,718 Apple, Inc. 9,440 4,930,984 Applied Materials, Inc. 23,345 416,708 * ARRIS Group, Inc. 3,913 69,886 * Arrow Electronics, Inc. 3,368 161,731 * AsiaInfo-Linkage, Inc. 2,100 24,360 * Aspen Technology, Inc. 1,856 70,955 * Atmel Corp. 6,502 47,335 * ATMI, Inc. 835 22,829 * Autodesk, Inc. 4,404 175,764 Automatic Data Processing, Inc. 5,760 431,827 Avago Technologies, Ltd. 3,000 136,290 * AVG Technologies NV 1,100 22,110 * Avid Technology, Inc. 1,011 7,532 Avnet, Inc. 4,760 188,972 Aware, Inc. 500 2,615 Badger Meter, Inc. 485 25,225 #* Bankrate, Inc. 944 15,897 Bel Fuse, Inc. Class B 278 5,849 * Benchmark Electronics, Inc. 1,618 36,777 # Black Box Corp. 500 12,520 Blackbaud, Inc. 764 27,504 * Blucora, Inc. 1,400 33,082 Booz Allen Hamilton Holding Corp. 1,157 22,909 #* Bottomline Technologies de, Inc. 953 29,943 Broadcom Corp. Class A 4,452 118,957 Broadridge Financial Solutions, Inc. 3,921 137,862 * Brocade Communications Systems, Inc. 16,851 135,145 Brooks Automation, Inc. 1,100 10,604 * BTU International, Inc. 200 662 CA, Inc. 12,859 408,402 * Cabot Microelectronics Corp. 468 19,137 * CACI International, Inc. Class A 900 64,782 #* Cadence Design Systems, Inc. 7,920 102,722 * CalAmp Corp. 600 14,118 * Calix, Inc. 1,647 16,750 * Cardtronics, Inc. 1,100 43,175 * Cascade Microtech, Inc. 300 3,072 # Cass Information Systems, Inc. 442 25,340 * Ceva, Inc. 108 1,548 * Checkpoint Systems, Inc. 1,612 27,436 * CIBER, Inc. 2,092 6,799 * Ciena Corp. 3,691 85,890 * Cirrus Logic, Inc. 463 10,385 Cisco Systems, Inc. 96,437 2,169,832 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Information Technology -- (Continued) * Citrix Systems, Inc. 1,559 $ 88,520 * Clearfield, Inc. 600 8,904 Cognex Corp. 2,478 77,438 * Cognizant Technology Solutions Corp. Class A 2,715 236,015 #* Cogo Group, Inc. 700 1,659 Coherent, Inc. 900 59,571 Cohu, Inc. 323 3,088 Communications Systems, Inc. 300 3,423 * CommVault Systems, Inc. 801 62,542 Computer Sciences Corp. 6,070 299,008 Computer Task Group, Inc. 610 10,449 Compuware Corp. 9,617 102,710 * comScore, Inc. 268 7,161 Comtech Telecommunications Corp. 364 10,927 * Comverse, Inc. 313 9,885 #* Concur Technologies, Inc. 1,400 146,440 * Constant Contact, Inc. 624 16,168 # Convergys Corp. 4,549 89,797 * CoreLogic, Inc. 3,993 132,847 * Cornerstone OnDemand, Inc. 500 23,685 Corning, Inc. 7,135 121,937 * CoStar Group, Inc. 883 156,282 #* Cray, Inc. 1,325 29,627 #* Cree, Inc. 4,344 263,898 CSG Systems International, Inc. 1,128 31,426 CTS Corp. 685 12,755 Daktronics, Inc. 1,378 16,481 * Datalink Corp. 240 2,465 * Dealertrack Technologies, Inc. 1,373 51,213 #* Demand Media, Inc. 1,267 6,056 #* Dice Holdings, Inc. 1,800 13,284 # Diebold, Inc. 3,080 92,277 * Digi International, Inc. 815 8,215 # Digimarc Corp. 127 2,675 * Digital River, Inc. 1,636 29,186 * Diodes, Inc. 1,336 32,358 Dolby Laboratories, Inc. Class A 1,265 45,211 * DSP Group, Inc. 10 75 DST Systems, Inc. 1,700 144,109 #* DTS, Inc. 453 9,060 * Dynamics Research Corp. 300 2,220 # EarthLink, Inc. 3,454 17,477 * eBay, Inc. 15,393 811,365 # Ebix, Inc. 960 10,925 #* Echelon Corp. 700 1,519 * EchoStar Corp. Class A 1,534 73,571 Electro Rent Corp. 804 14,585 Electro Scientific Industries, Inc. 1,011 12,112 * Electronic Arts, Inc. 4,020 105,525 * Electronics for Imaging, Inc. 2,109 72,360 * Ellie Mae, Inc. 362 10,462 EMC Corp. 23,546 566,752 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Information Technology -- (Continued) * Emulex Corp. 2,313 $ 17,417 * Entegris, Inc. 3,413 35,325 * Entropic Communications, Inc. 2,237 9,574 * Envestnet, Inc. 90 3,267 EPIQ Systems, Inc. 1,009 15,095 ePlus, Inc. 400 21,744 #* Equinix, Inc. 1,116 180,212 * Euronet Worldwide, Inc. 1,560 67,704 * Exar Corp. 1,220 14,067 * ExlService Holdings, Inc. 1,038 30,009 * Extreme Networks 2,741 14,692 * F5 Networks, Inc. 1,000 81,510 * Fabrinet 830 13,894 * Facebook, Inc. Class A 16,100 809,186 # FactSet Research Systems, Inc. 844 91,945 Fair Isaac Corp. 1,100 63,008 #* Fairchild Semiconductor International, Inc. 3,440 43,585 #* FARO Technologies, Inc. 400 19,000 FEI Co. 1,200 106,896 Fidelity National Information Services, Inc. 5,945 289,819 * Finisar Corp. 3,823 87,967 #* First Solar, Inc. 3,600 180,972 * Fiserv, Inc. 1,600 167,568 * FleetCor Technologies, Inc. 2,164 249,617 FLIR Systems, Inc. 2,900 82,592 Forrester Research, Inc. 600 23,286 * Fortinet, Inc. 2,600 52,286 * Freescale Semiconductor, Ltd. 1,600 24,704 #* Fusion-io, Inc. 3,000 32,250 * Gartner, Inc. 1,400 82,530 * Genpact, Ltd. 7,378 146,306 * Global Cash Access Holdings, Inc. 2,100 17,430 Global Payments, Inc. 2,119 126,038 * Globecomm Systems, Inc. 671 9,414 * Google, Inc. Class A 2,813 2,899,022 * GSI Group, Inc. 618 6,168 * GSI Technology, Inc. 600 4,212 #* GT Advanced Technologies, Inc. 2,386 17,895 * Guidewire Software, Inc. 1,078 54,676 Hackett Group, Inc. (The) 800 5,696 * Harmonic, Inc. 4,973 36,353 Harris Corp. 2,173 134,639 Heartland Payment Systems, Inc. 1,088 44,010 Hewlett-Packard Co. 40,650 990,640 * Hittite Microwave Corp. 764 48,812 * Hutchinson Technology, Inc. 900 3,348 IAC/InterActiveCorp 2,800 149,492 * ID Systems, Inc. 400 2,080 * Identive Group, Inc. 28 18 * iGATE Corp. 1,502 47,824 #* iGO, Inc. 15 44 * Imation Corp. 397 1,846 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Information Technology -- (Continued) #* Infinera Corp. 4,606 $ 47,027 * Informatica Corp. 3,972 153,319 * Ingram Micro, Inc. Class A 5,648 130,864 * Innodata, Inc. 400 960 #* Inphi Corp. 6 88 * Insight Enterprises, Inc. 1,499 31,584 * Integrated Device Technology, Inc. 2,264 24,089 * Integrated Silicon Solution, Inc. 700 7,546 Intel Corp. 56,044 1,369,155 * Interactive Intelligence Group, Inc. 500 30,725 # InterDigital, Inc. 1,200 46,500 * Internap Network Services Corp. 1,900 13,813 International Business Machines Corp. 5,125 918,451 Intersil Corp. Class A 5,929 66,168 * Intevac, Inc. 500 2,550 Intuit, Inc. 3,300 235,653 #* InvenSense, Inc. 473 7,989 # IPG Photonics Corp. 600 39,762 #* Itron, Inc. 1,479 63,109 * Ixia 2,248 31,877 IXYS Corp. 734 8,536 j2 Global, Inc. 1,601 88,023 Jabil Circuit, Inc. 7,769 162,061 Jack Henry & Associates, Inc. 2,900 158,369 * JDS Uniphase Corp. 7,648 100,112 * Juniper Networks, Inc. 21,880 407,843 * Kemet Corp. 318 1,803 * Key Tronic Corp. 334 3,624 KLA-Tencor Corp. 1,300 85,280 * Kopin Corp. 1,468 5,388 * Kulicke & Soffa Industries, Inc. 1,812 23,375 * KVH Industries, Inc. 99 1,360 * Lam Research Corp. 5,219 283,026 * Lattice Semiconductor Corp. 2,830 14,518 # Leidos Holdings, Inc. 3,929 185,028 Lender Processing Services, Inc. 2,438 84,160 # Lexmark International, Inc. Class A 3,325 118,204 * Limelight Networks, Inc. 1,080 2,074 Linear Technology Corp. 2,200 90,508 * LinkedIn Corp. Class A 791 176,923 * Lionbridge Technologies, Inc. 815 3,553 * Liquidity Services, Inc. 101 2,637 Littelfuse, Inc. 753 64,028 LSI Corp. 17,475 148,188 * LTX-Credence Corp. 1,333 8,171 * Magnachip Semiconductor Corp. 1,000 18,690 * Manhattan Associates, Inc. 300 31,953 ManTech International Corp. Class A 501 13,998 Marchex, Inc. Class B 700 6,244 Marvell Technology Group, Ltd. 14,497 173,964 Mastercard, Inc. Class A 775 555,752 Maxim Integrated Products, Inc. 1,720 51,084 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------- ---------- Information Technology -- (Continued) MAXIMUS, Inc. 1,750 $ 84,788 * Measurement Specialties, Inc. 532 29,648 Mentor Graphics Corp. 3,975 87,768 #* Mercury Systems, Inc. 52 479 Methode Electronics, Inc. 1,300 33,254 Micrel, Inc. 1,226 11,279 # Microchip Technology, Inc. 500 21,480 * Micron Technology, Inc. 32,511 574,794 #* MICROS Systems, Inc. 2,400 130,200 * Microsemi Corp. 2,184 54,884 Microsoft Corp. 111,224 3,931,768 #* Mindspeed Technologies, Inc. 1,000 2,890 MKS Instruments, Inc. 1,233 36,546 * ModusLink Global Solutions, Inc. 1,100 4,532 * MoneyGram International, Inc. 407 8,592 Monolithic Power Systems, Inc. 810 25,790 Monotype Imaging Holdings, Inc. 1,050 29,631 #* Monster Worldwide, Inc. 4,944 21,358 Motorola Solutions, Inc. 3,414 213,443 * Move, Inc. 995 16,885 # MTS Systems Corp. 534 34,881 * Multi-Fineline Electronix, Inc. 722 9,682 #* Nanometrics, Inc. 527 9,792 National Instruments Corp. 3,276 95,168 * NCI, Inc. Class A 100 570 * NCR Corp. 3,777 138,049 NetApp, Inc. 5,987 232,355 * NETGEAR, Inc. 1,500 43,140 #* Netlist, Inc. 400 328 * Netscout Systems, Inc. 1,300 36,816 #* NetSuite, Inc. 849 85,647 * NeuStar, Inc. Class A 2,061 94,641 * Newport Corp. 1,290 20,472 * Nuance Communications, Inc. 6,872 106,928 NVIDIA Corp. 26,341 399,856 * Official Payments Holdings, Inc. 256 2,135 * OmniVision Technologies, Inc. 1,293 18,115 #* ON Semiconductor Corp. 19,904 140,522 * Oplink Communications, Inc. 800 14,600 Oracle Corp. 43,403 1,454,000 * OSI Systems, Inc. 500 36,420 * Pandora Media, Inc. 2,164 54,381 * PAR Technology Corp. 300 1,668 Park Electrochemical Corp. 523 14,670 # Paychex, Inc. 2,162 91,366 PC Connection, Inc. 346 6,917 * PDF Solutions, Inc. 439 10,084 Pegasystems, Inc. 272 10,352 Perceptron, Inc. 200 2,798 * Perficient, Inc. 1,076 19,465 * Pericom Semiconductor Corp. 400 3,232 #* Photronics, Inc. 735 6,174 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Information Technology -- (Continued) Plantronics, Inc. 1,706 $ 73,256 * Plexus Corp. 1,200 45,936 * PMC - Sierra, Inc. 7,989 46,895 * Polycom, Inc. 4,534 47,154 # Power Integrations, Inc. 500 28,720 * PRGX Global, Inc. 400 2,872 * Progress Software Corp. 2,023 52,517 * PTC, Inc. 3,685 102,148 #* Pulse Electronics Corp. 34 126 * QLIK Technologies, Inc. 2,000 50,680 * QLogic Corp. 3,968 49,005 QUALCOMM, Inc. 19,186 1,332,851 * QuinStreet, Inc. 195 1,734 * Qumu Corp. 208 3,116 #* Rackspace Hosting, Inc. 1,436 73,566 * Radisys Corp. 732 2,211 #* Rambus, Inc. 2,900 25,346 * RealNetworks, Inc. 971 7,448 * Red Hat, Inc. 626 27,087 * Responsys, Inc. 956 15,621 * RF Micro Devices, Inc. 7,369 38,687 Richardson Electronics, Ltd. 500 5,760 * Riverbed Technology, Inc. 4,496 66,631 * Rofin-Sinar Technologies, Inc. 926 24,308 * Rogers Corp. 581 35,418 * Rosetta Stone, Inc. 1,153 17,503 * Rovi Corp. 5,069 84,956 * Rudolph Technologies, Inc. 847 8,978 * Saba Software, Inc. 600 6,960 * Salesforce.com, Inc. 5,907 315,198 SanDisk Corp. 6,766 470,237 * Sanmina Corp. 2,990 43,534 * Sapient Corp. 4,642 73,390 * ScanSource, Inc. 825 31,730 # Science Applications International Corp. 2,245 79,136 * Seachange International, Inc. 1,200 17,028 Seagate Technology P.L.C. 6,300 306,684 * Semtech Corp. 1,391 43,274 #* ServiceSource International, Inc. 107 1,158 * ShoreTel, Inc. 2,672 21,242 * Silicon Image, Inc. 1,800 9,450 * Silicon Laboratories, Inc. 2,076 83,497 * Skyworks Solutions, Inc. 5,239 135,061 #* Smith Micro Software, Inc. 500 405 * SolarWinds, Inc. 1,200 43,428 Solera Holdings, Inc. 1,500 84,330 * Sonus Networks, Inc. 11,379 34,137 * Spansion, Inc. Class A 901 10,785 * Speed Commerce, Inc. 595 2,184 * SS&C Technologies Holdings, Inc. 2,982 117,193 * Stamps.com, Inc. 486 22,084 * StarTek, Inc. 200 1,252 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Information Technology -- (Continued) * Stratasys, Ltd. 1,057 $119,684 * SunEdison, Inc. 10,601 98,589 * Super Micro Computer, Inc. 1,013 14,101 * support.com, Inc. 1,000 4,460 * Sykes Enterprises, Inc. 1,556 29,128 Symantec Corp. 12,943 294,324 * Symmetricom, Inc. 1,146 8,217 #* Synaptics, Inc. 1,378 64,077 * Synchronoss Technologies, Inc. 329 11,390 * SYNNEX Corp. 1,359 83,307 * Synopsys, Inc. 4,159 151,596 Syntel, Inc. 1,200 103,008 * Take-Two Interactive Software, Inc. 2,791 49,987 TE Connectivity, Ltd. 3,196 164,562 * Tech Data Corp. 1,421 73,977 * TeleCommunication Systems, Inc. Class A 971 2,214 * Telenav, Inc. 1,165 8,446 #* TeleTech Holdings, Inc. 1,480 39,176 Tellabs, Inc. 11,566 28,221 * Teradata Corp. 1,800 79,326 #* Teradyne, Inc. 7,877 137,769 # Tessco Technologies, Inc. 126 4,464 Tessera Technologies, Inc. 1,321 25,125 Texas Instruments, Inc. 10,111 425,471 * TheStreet, Inc. 700 1,645 * TIBCO Software, Inc. 4,439 109,022 Total System Services, Inc. 4,742 141,454 Transact Technologies, Inc. 300 4,137 * Travelzoo, Inc. 400 8,612 * Trimble Navigation, Ltd. 2,726 77,882 * TriQuint Semiconductor, Inc. 3,705 29,381 * TTM Technologies, Inc. 1,468 12,845 #* Tyler Technologies, Inc. 600 58,026 # Ubiquiti Networks, Inc. 27 1,042 * Ultimate Software Group, Inc. 551 85,118 * Ultratech, Inc. 500 11,895 #* Unisys Corp. 1,400 36,890 United Online, Inc. 3,775 32,616 #* Unwired Planet, Inc. 2,043 3,310 #* ValueClick, Inc. 2,580 49,562 #* Veeco Instruments, Inc. 800 23,368 * VeriFone Systems, Inc. 1,934 43,824 * Verint Systems, Inc. 1,581 57,738 #* VeriSign, Inc. 1,624 88,151 #* ViaSat, Inc. 1,300 85,956 * Viasystems Group, Inc. 156 2,340 * Video Display Corp. 37 134 * Virtusa Corp. 1,004 31,204 Visa, Inc. Class A 2,326 457,454 * Vishay Intertechnology, Inc. 4,148 50,896 * Vishay Precision Group, Inc. 335 5,494 * VistaPrint NV 852 46,051 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ ----------- Information Technology -- (Continued) * VMware, Inc. Class A 700 $ 56,896 * Web.com Group, Inc. 1,200 32,340 #* WebMD Health Corp. 742 26,133 * Westell Technologies, Inc. Class A 700 2,513 Western Digital Corp. 7,142 497,297 Western Union Co. (The) 1,020 17,360 * WEX, Inc. 1,150 107,352 Xerox Corp. 41,191 409,439 Xilinx, Inc. 5,594 254,079 * XO Group, Inc. 950 13,186 * Yahoo!, Inc. 15,190 500,207 * Zebra Technologies Corp. Class A 2,339 112,997 #* Zix Corp. 1,205 4,916 * Zygo Corp. 500 7,720 * Zynga, Inc. Class A 7,800 28,002 ----------- Total Information Technology 49,657,589 ----------- Materials -- (4.2%) A Schulman, Inc. 1,031 34,147 * AEP Industries, Inc. 179 10,636 Air Products & Chemicals, Inc. 1,854 202,105 Airgas, Inc. 1,600 174,512 Albemarle Corp. 2,203 145,817 # Alcoa, Inc. 36,473 338,105 # Allegheny Technologies, Inc. 4,175 138,192 #* Allied Nevada Gold Corp. 2,797 11,412 * AM Castle & Co. 956 13,680 AMCOL International Corp. 964 30,925 * American Pacific Corp. 200 9,104 American Vanguard Corp. 800 20,880 Aptargroup, Inc. 2,190 140,510 * Arabian American Development Co. 500 4,550 Ashland, Inc. 2,065 191,116 Avery Dennison Corp. 5,104 240,500 Axiall Corp. 1,609 62,574 Balchem Corp. 834 47,755 Ball Corp. 2,600 127,114 # Bemis Co., Inc. 6,161 245,824 # Cabot Corp. 2,600 121,186 * Calgon Carbon Corp. 2,500 49,875 # Carpenter Technology Corp. 1,484 88,046 Celanese Corp. Series A 1,992 111,572 * Century Aluminum Co. 3,446 29,911 CF Industries Holdings, Inc. 500 107,800 Chase Corp. 200 6,052 * Chemtura Corp. 3,210 78,645 * Clearwater Paper Corp. 734 38,329 # Cliffs Natural Resources, Inc. 3,689 94,733 Commercial Metals Co. 4,700 86,292 Compass Minerals International, Inc. 1,052 78,342 #* Contango ORE, Inc. 50 460 * Crown Holdings, Inc. 2,584 112,662 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Materials -- (Continued) Deltic Timber Corp. 200 $ 12,776 Domtar Corp. 1,800 152,478 Dow Chemical Co. (The) 11,060 436,538 Eagle Materials, Inc. 1,900 142,519 Eastman Chemical Co. 3,437 270,801 Ecolab, Inc. 4,010 425,060 EI du Pont de Nemours & Co. 3,400 208,080 * Ferro Corp. 962 12,342 #* Flotek Industries, Inc. 907 19,392 FMC Corp. 1,968 143,192 Freeport-McMoRan Copper & Gold, Inc. 8,580 315,401 FutureFuel Corp. 801 13,945 * General Moly, Inc. 2,819 4,623 # Globe Specialty Metals, Inc. 2,247 39,412 * Graphic Packaging Holding Co. 11,595 97,398 Greif, Inc. Class A 948 50,709 Hawkins, Inc. 400 14,404 Haynes International, Inc. 300 16,170 HB Fuller Co. 3,100 148,397 #* Headwaters, Inc. 1,600 13,968 * Horsehead Holding Corp. 1,695 24,594 Huntsman Corp. 7,232 167,927 Innophos Holdings, Inc. 600 30,072 Innospec, Inc. 700 32,242 International Flavors & Fragrances, Inc. 900 74,385 International Paper Co. 7,172 319,943 # Intrepid Potash, Inc. 2,295 34,081 Kaiser Aluminum Corp. 650 43,842 KapStone Paper and Packaging Corp. 1,800 93,528 KMG Chemicals, Inc. 300 5,994 * Kraton Performance Polymers, Inc. 1,172 24,928 # Kronos Worldwide, Inc. 2,007 31,129 * Landec Corp. 900 10,539 * Louisiana-Pacific Corp. 3,500 59,535 LyondellBasell Industries NV Class A 3,623 270,276 # Martin Marietta Materials, Inc. 906 88,870 Materion Corp. 900 26,829 * McEwen Mining, Inc. 2,598 5,560 MeadWestvaco Corp. 7,235 252,140 * Mercer International, Inc. 1,858 14,864 Minerals Technologies, Inc. 2,000 113,260 #* Molycorp, Inc. 770 3,904 Monsanto Co. 4,297 450,669 Mosaic Co. (The) 3,394 155,615 Myers Industries, Inc. 1,200 21,384 Neenah Paper, Inc. 600 24,684 # NewMarket Corp. 200 62,272 # Noranda Aluminum Holding Corp. 2,079 5,655 Nucor Corp. 5,936 307,307 Olympic Steel, Inc. 300 8,211 * OM Group, Inc. 1,454 49,436 * OMNOVA Solutions, Inc. 1,400 12,180 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ ----------- Materials -- (Continued) * Owens-Illinois, Inc. 7,407 $ 235,469 Packaging Corp. of America 3,298 205,399 * Penford Corp. 200 2,720 PH Glatfelter Co. 1,455 38,121 PolyOne Corp. 316 9,575 PPG Industries, Inc. 1,105 201,751 Praxair, Inc. 3,000 374,130 Quaker Chemical Corp. 514 39,018 Reliance Steel & Aluminum Co. 2,837 207,924 * Resolute Forest Products, Inc. 1,500 23,985 Rock Tenn Co. Class A 1,627 174,105 Rockwood Holdings, Inc. 2,235 141,364 Royal Gold, Inc. 1,945 93,438 RPM International, Inc. 3,532 136,759 * RTI International Metals, Inc. 1,265 42,883 Schweitzer-Mauduit International, Inc. 1,300 80,444 Scotts Miracle-Gro Co. (The) Class A 2,401 140,987 Sealed Air Corp. 11,732 354,072 #* Senomyx, Inc. 300 1,110 Sensient Technologies Corp. 2,676 139,500 Sherwin-Williams Co. (The) 1,600 300,800 Sigma-Aldrich Corp. 2,000 172,860 Silgan Holdings, Inc. 2,273 102,444 #* Solitario Exploration & Royalty Corp. 1,000 890 Sonoco Products Co. 4,951 201,209 Southern Copper Corp. 3,250 90,837 Steel Dynamics, Inc. 7,698 138,333 Stepan Co. 600 35,322 * Stillwater Mining Co. 4,770 52,041 * SunCoke Energy, Inc. 2,225 44,500 Synalloy Corp. 300 4,827 * Texas Industries, Inc. 1,100 59,070 Tredegar Corp. 811 23,697 Tronox, Ltd. Class A 1,900 43,871 * United States Lime & Minerals, Inc. 200 11,112 #* Universal Stainless & Alloy Products, Inc. 400 12,928 # US Silica Holdings, Inc. 1,234 42,968 Valhi, Inc. 3,135 57,590 Valspar Corp. (The) 3,600 251,892 Vulcan Materials Co. 1,404 75,184 Wausau Paper Corp. 2,700 31,590 Westlake Chemical Corp. 700 75,194 Worthington Industries, Inc. 4,500 182,430 * WR Grace & Co. 362 33,181 Zep, Inc. 611 12,153 * Zoltek Cos., Inc. 1,500 25,050 ----------- Total Materials 13,281,550 ----------- Telecommunication Services -- (2.1%) * 8x8, Inc. 1,108 12,698 Alaska Communications Systems Group, Inc. 2,700 6,642 AT&T, Inc. 82,356 2,981,287 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ ---------- Telecommunication Services -- (Continued) Atlantic Tele-Network, Inc. 1,000 $ 55,420 * Boingo Wireless, Inc. 666 4,515 * Cbeyond, Inc. 1,402 9,029 CenturyLink, Inc. 6,253 211,727 * Cincinnati Bell, Inc. 9,300 26,598 # Consolidated Communications Holdings, Inc. 1,988 37,036 # Frontier Communications Corp. 1,200 5,292 * General Communication, Inc. Class A 2,200 20,922 #* Hawaiian Telcom Holdco, Inc. 33 877 HickoryTech Corp. 380 5,084 IDT Corp. Class B 845 18,497 Inteliquent, Inc. 1,747 22,449 #* Iridium Communications, Inc. 3,706 22,347 * Leap Wireless International, Inc. 1,800 28,980 * Level 3 Communications, Inc. 2,454 74,970 Lumos Networks Corp. 700 15,407 * ORBCOMM, Inc. 218 1,315 * Premiere Global Services, Inc. 2,546 22,939 # PTGi Holding, Inc. 482 1,697 * SBA Communications Corp. Class A 2,200 192,434 Shenandoah Telecommunications Co. 800 22,184 #* Sprint Corp. 19,389 130,488 * Straight Path Communications, Inc. Class B 422 2,304 T-Mobile US, Inc. 2,298 63,724 Telephone & Data Systems, Inc. 6,089 189,855 United States Cellular Corp. 1,091 52,804 USA Mobility, Inc. 810 12,085 Verizon Communications, Inc. 44,056 2,225,269 * Vonage Holdings Corp. 7,748 28,900 # Windstream Holdings, Inc. 17,434 149,061 ---------- Total Telecommunication Services 6,654,836 ---------- Utilities -- (2.8%) AES Corp. 4,400 61,996 AGL Resources, Inc. 3,547 169,759 Alliant Energy Corp. 2,236 116,764 Ameren Corp. 1,900 68,742 American Electric Power Co., Inc. 5,600 262,304 American States Water Co. 1,600 45,568 American Water Works Co., Inc. 3,000 128,610 Aqua America, Inc. 5,778 145,490 # Artesian Resources Corp. Class A 200 4,580 Atmos Energy Corp. 1,200 53,124 Black Hills Corp. 1,700 86,224 #* Cadiz, Inc. 200 1,030 California Water Service Group 1,750 38,150 * Calpine Corp. 13,700 276,329 CenterPoint Energy, Inc. 8,501 209,125 Chesapeake Utilities Corp. 387 21,057 Cleco Corp. 1,910 88,509 CMS Energy Corp. 5,802 159,323 Connecticut Water Service, Inc. 367 11,762 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ ------ -------- Utilities -- (Continued) Consolidated Edison, Inc. 2,600 $151,372 # Consolidated Water Co., Ltd. 163 2,452 # Delta Natural Gas Co., Inc. 149 3,326 Dominion Resources, Inc. 4,726 301,283 DTE Energy Co. 2,700 186,678 Duke Energy Corp. 3,691 264,755 * Dynegy, Inc. 1,191 23,141 Edison International 4,400 215,732 El Paso Electric Co. 1,393 48,992 Empire District Electric Co. (The) 1,810 40,707 Entergy Corp. 1,500 97,080 Exelon Corp. 6,223 177,604 Gas Natural, Inc. 400 3,988 #* Genie Energy, Ltd. Class B 400 4,132 # Hawaiian Electric Industries, Inc. 2,900 77,053 IDACORP, Inc. 1,400 72,240 Integrys Energy Group, Inc. 2,881 169,057 ITC Holdings Corp. 1,804 181,464 Laclede Group, Inc. (The) 1,456 68,534 MDU Resources Group, Inc. 5,804 172,843 # MGE Energy, Inc. 1,200 67,572 National Fuel Gas Co. 749 53,591 New Jersey Resources Corp. 1,000 46,030 NextEra Energy, Inc. 5,000 423,750 NiSource, Inc. 6,820 214,966 Northeast Utilities 6,199 265,875 # Northwest Natural Gas Co. 1,120 48,642 NorthWestern Corp. 1,317 60,371 NRG Energy, Inc. 12,703 362,417 NV Energy, Inc. 8,123 192,840 OGE Energy Corp. 3,114 114,907 ONEOK, Inc. 4,286 242,159 # Ormat Technologies, Inc. 1,700 44,319 # Otter Tail Corp. 1,233 36,780 Pepco Holdings, Inc. 4,607 88,823 PG&E Corp. 3,391 141,913 Piedmont Natural Gas Co., Inc. 2,746 93,749 Pinnacle West Capital Corp. 2,400 134,472 Portland General Electric Co. 1,200 34,440 Public Service Enterprise Group, Inc. 6,200 207,700 Questar Corp. 6,400 151,424 SCANA Corp. 2,118 98,762 Sempra Energy 1,846 168,245 SJW Corp. 811 22,895 # South Jersey Industries, Inc. 690 41,090 Southern Co. (The) 6,936 283,752 Southwest Gas Corp. 1,600 86,816 TECO Energy, Inc. 9,779 167,905 UGI Corp. 4,528 187,323 UIL Holdings Corp. 1,864 71,801 Unitil Corp. 600 18,132 UNS Energy Corp. 600 29,688 U.S. SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE+ --------- ------------ Utilities -- (Continued) Vectren Corp. 1,800 $ 62,856 # Westar Energy, Inc. 4,495 142,087 WGL Holdings, Inc. 1,801 81,063 Wisconsin Energy Corp. 4,200 176,862 Xcel Energy, Inc. 4,400 126,984 York Water Co. 300 6,213 ------------ Total Utilities 9,010,093 ------------ TOTAL COMMON STOCKS 297,024,979 ------------ RIGHTS/WARRANTS -- (0.0%) (d)* CVR Energy, Inc. Contingent Value Rights 2,897 -- (d)#* Magnum Hunter Resources Corp. Warrants 04/15/16 358 -- (d)* U.S. Concrete, Inc. Warrants Class A 08/31/17 20 80 (d)* U.S. Concrete, Inc. Warrants Class B 08/31/17 20 71 ------------ TOTAL RIGHTS/WARRANTS 151 ------------ TEMPORARY CASH INVESTMENTS -- (0.2%) State Street Institutional Liquid Reserves, 0.073% 668,131 668,131 ------------ SHARES/ FACE AMOUNT (000) --------- SECURITIES LENDING COLLATERAL -- (6.7%) (S)@ DFA Short Term Investment Fund 1,847,762 21,378,610 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $218,489,150) $319,071,871 ============ INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 SHARES VALUE++ ------ -------- COMMON STOCKS -- (91.1%) AUSTRALIA -- (5.5%) # Adelaide Brighton, Ltd. 17,121 $ 62,315 AGL Energy, Ltd. 6,619 97,780 # ALS Ltd/Queensland 2,937 27,783 * Alumina, Ltd. 61,750 60,038 Amalgamated Holdings, Ltd. 2,408 18,463 Amcor, Ltd. 17,823 182,586 AMP, Ltd. 41,118 184,247 # Ansell, Ltd. 3,364 62,003 AP Eagers, Ltd. 1,880 8,362 APA Group 17,435 99,895 #* APN News & Media, Ltd. 5,205 2,285 #* Aquarius Platinum, Ltd. 3,816 2,497 #* Aquila Resources, Ltd. 940 2,005 Arrium, Ltd. 38,188 49,895 #* Aurora Oil & Gas, Ltd. 11,648 35,767 # Ausdrill, Ltd. 7,076 10,224 # Ausenco, Ltd. 2,077 3,230 Australia & New Zealand Banking Group, Ltd. 10,367 331,748 Australian Infrastructure Fund 14,370 95 Australian Pharmaceutical Industries, Ltd. 40,511 24,708 Automotive Holdings Group, Ltd. 6,452 22,148 * AWE, Ltd. 19,789 23,348 Beach Energy, Ltd. 48,447 65,437 Bendigo and Adelaide Bank, Ltd. 10,051 103,473 BHP Billiton, Ltd. 4,266 150,817 BHP Billiton, Ltd. Sponsored ADR 9,527 673,464 #* Billabong International, Ltd. 13,929 5,183 #* BlueScope Steel, Ltd. 18,055 85,164 # Boral, Ltd. 25,099 117,114 # Bradken, Ltd. 1,159 6,837 Brambles, Ltd. 16,209 142,294 Breville Group, Ltd. 3,217 24,468 Brickworks, Ltd. 857 11,573 # Cabcharge Australia, Ltd. 4,103 15,649 Caltex Australia, Ltd. 4,341 75,851 # Cardno, Ltd. 5,816 38,926 Clough, Ltd. 24,174 33,181 #* Coal of Africa, Ltd. 2,428 314 Coca-Cola Amatil, Ltd. 7,199 87,729 Commonwealth Bank of Australia 8,591 618,574 Computershare, Ltd. 2,805 28,466 Crowe Horwath Australasia, Ltd. 11,744 6,951 Crown, Ltd. 5,061 80,684 CSL, Ltd. 3,411 224,222 CSR, Ltd. 6,097 14,395 # David Jones, Ltd. 17,745 45,605 Decmil Group, Ltd. 10,092 24,124 Downer EDI, Ltd. 20,951 97,338 #* Drillsearch Energy, Ltd. 23,451 28,719 DUET Group 26,912 54,629 DuluxGroup, Ltd. 7,839 38,174 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ ---------- AUSTRALIA -- (Continued) Echo Entertainment Group, Ltd. 15,328 $ 38,471 Emeco Holdings, Ltd. 18,108 5,892 * Energy Resources of Australia, Ltd. 5,657 6,847 Envestra, Ltd. 15,764 16,752 # Evolution Mining, Ltd. 15,680 12,391 # Fairfax Media, Ltd. 41,918 23,934 FKP Property Group 5,653 9,991 Fortescue Metals Group, Ltd. 3,238 15,880 GrainCorp, Ltd. Class A 8,657 100,934 # GUD Holdings, Ltd. 7,446 41,724 #* Gunns, Ltd. 26,718 -- GWA Group, Ltd. 8,700 25,488 # Harvey Norman Holdings, Ltd. 14,320 44,065 Hills Holdings, Ltd. 5,399 9,328 #* Horizon Oil, Ltd. 50,760 15,810 iiNET, Ltd. 7,010 43,123 Imdex, Ltd. 11,826 8,044 Incitec Pivot, Ltd. 44,655 112,349 # Independence Group NL 9,079 33,836 #* Infigen Energy 28,218 6,940 Insurance Australia Group, Ltd. 53,653 313,329 # Invocare, Ltd. 3,621 37,503 IOOF Holdings, Ltd. 1,869 15,894 James Hardie Industries P.L.C. 9,898 102,378 # JB Hi-Fi, Ltd. 2,539 52,323 # Leighton Holdings, Ltd. 453 7,674 Lend Lease Group 15,736 169,695 #* Linc Energy, Ltd. 14,004 18,982 M2 Telecommunications Group, Ltd. 8,392 50,279 * Macmahon Holdings, Ltd. 77,872 11,050 Macquarie Group, Ltd. 7,932 381,526 McPherson's, Ltd. 5,484 6,989 Metcash, Ltd. 29,424 93,116 * Mineral Deposits, Ltd. 1,302 3,845 Mineral Resources, Ltd. 2,905 31,060 # Monadelphous Group, Ltd. 212 3,638 # Myer Holdings, Ltd. 19,907 47,048 National Australia Bank, Ltd. 31,575 1,055,263 Navitas, Ltd. 9,213 50,468 # New Hope Corp., Ltd. 4,695 16,755 Newcrest Mining, Ltd. 11,689 113,344 # NIB Holdings, Ltd. 20,748 47,087 # NRW Holdings, Ltd. 1,833 2,420 Nufarm, Ltd. 10,498 48,412 Oil Search, Ltd. 19,858 159,650 Orica, Ltd. 11,216 223,291 Origin Energy, Ltd. 40,702 562,683 OZ Minerals, Ltd. 8,864 30,213 Pacific Brands, Ltd. 11,725 7,809 #* Paladin Energy, Ltd. 27,922 11,030 PanAust, Ltd. 6,112 11,599 Panoramic Resources, Ltd. 2,242 690 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- AUSTRALIA -- (Continued) # Perpetual, Ltd. 241 $ 10,492 * Perseus Mining, Ltd. 13,256 5,410 Premier Investments, Ltd. 5,059 38,125 Primary Health Care, Ltd. 16,607 77,479 Prime Media Group, Ltd. 500 477 Programmed Maintenance Services, Ltd. 4,628 12,061 #* Qantas Airways, Ltd. 18,155 21,344 QBE Insurance Group, Ltd. 2,931 41,047 #* Ramelius Resources, Ltd. 11,028 1,394 Ramsay Health Care, Ltd. 1,882 69,088 REA Group, Ltd. 1,149 45,096 # Regis Resources, Ltd. 6,914 22,528 Resolute Mining, Ltd. 19,030 11,520 Retail Food Group, Ltd.(B15SCH6) 4,517 18,620 Retail Food Group, Ltd.() 445 1,834 Rio Tinto, Ltd. 4,215 253,625 * Roc Oil Co., Ltd. 42,871 19,611 SAI Global, Ltd. 7,061 27,440 Santos, Ltd. 36,676 524,908 * Senex Energy, Ltd. 26,881 21,070 # Seven Group Holdings, Ltd. 1,365 10,752 Seven West Media, Ltd. 3,016 7,186 * Silex Systems, Ltd. 1,748 3,963 * Silver Lake Resources, Ltd. 2,487 1,792 #* Sims Metal Management, Ltd. 4,913 46,537 Sims Metal Management, Ltd. Sponsored ADR 819 7,740 Sonic Healthcare, Ltd. 7,234 110,429 Southern Cross Media Group, Ltd. 4,361 7,782 SP AusNet 63,278 74,752 Spark Infrastructure Group 27,962 44,786 #* St Barbara, Ltd. 15,052 6,761 * Straits Resources, Ltd. 4,268 36 STW Communications Group, Ltd. 25,450 38,283 Suncorp Group, Ltd. 25,817 325,537 Super Retail Group, Ltd. 3,025 38,318 Sydney Airport 3,802 15,057 Tassal Group, Ltd. 9,649 28,363 Tatts Group, Ltd. 41,701 123,822 Telstra Corp., Ltd. 8,124 39,753 #* Ten Network Holdings, Ltd. 46,073 12,212 Tox Free Solutions, Ltd. 9,194 28,669 TPG Telecom, Ltd. 17,780 78,385 Transfield Services, Ltd. 16,298 20,556 * Transpacific Industries Group, Ltd. 22,650 24,514 Transurban Group 15,469 103,772 Treasury Wine Estates, Ltd. 25,027 111,146 # UGL, Ltd. 3,425 23,819 UXC, Ltd. 25,057 22,593 Westpac Banking Corp. 9,963 323,470 Westpac Banking Corp. Sponsored ADR 13,460 439,469 #* Whitehaven Coal, Ltd. 5,539 8,485 Woodside Petroleum, Ltd. 8,022 294,086 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ ----------- AUSTRALIA -- (Continued) Woolworths, Ltd. 9,342 $ 308,066 WorleyParsons, Ltd. 1,839 38,295 ----------- TOTAL AUSTRALIA 12,461,974 ----------- AUSTRIA -- (0.4%) Agrana Beteiligungs AG 20 2,439 Andritz AG 1,251 77,039 Atrium European Real Estate, Ltd. 80 478 CA Immobilien Anlagen AG 188 2,859 Erste Group Bank AG 4,500 157,994 # EVN AG 995 15,163 Flughafen Wien AG 68 5,246 IMMOFINANZ AG 20,689 90,609 Lenzing AG 121 9,026 Mayr Melnhof Karton AG 163 18,177 # Oesterreichische Post AG 700 32,825 OMV AG 5,134 244,905 Palfinger AG 699 25,797 Rosenbauer International AG 124 10,020 Schoeller-Bleckmann Oilfield Equipment AG 340 39,226 Semperit AG Holding 381 18,658 Strabag SE 447 11,749 Telekom Austria AG 4,093 33,648 # UNIQA Insurance Group AG 3,890 47,557 Verbund AG 602 14,122 Voestalpine AG 3,008 141,904 Zumtobel AG 366 6,531 ----------- TOTAL AUSTRIA 1,005,972 ----------- BELGIUM -- (1.1%) Ackermans & van Haaren NV 653 70,722 Ageas 5,736 243,747 * AGFA-Gevaert NV 7,268 17,260 Anheuser-Busch InBev NV 1,681 174,259 Anheuser-Busch InBev NV Sponsored ADR 4,320 448,114 Arseus NV 1,195 36,906 Banque Nationale de Belgique 8 31,367 Barco NV 191 14,457 Belgacom SA 3,550 97,133 Cie d'Entreprises CFE 624 49,308 Colruyt SA 480 26,778 D'ieteren SA 646 30,442 * Deceuninck NV 4,912 11,662 Delhaize Group SA Sponsored ADR 2,009 128,455 # Elia System Operator SA 896 40,974 EVS Broadcast Equipment SA 396 25,907 #* Galapagos NV 2,035 39,333 KBC Groep NV 3,956 215,529 Kinepolis Group NV 285 41,583 # NV Bekaert SA 716 29,981 # Nyrstar 7,145 29,316 Recticel SA 1,539 10,332 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ ---------- BELGIUM -- (Continued) Sioen Industries NV 344 $ 4,075 Sipef SA 152 11,537 # Solvay SA 1,658 259,250 Telenet Group Holding NV 1,011 55,413 Tessenderlo Chemie NV 1,427 35,720 #* ThromboGenics NV 1,084 29,848 # UCB SA 1,537 100,891 Umicore SA 3,536 168,381 Van de Velde NV 285 14,486 ---------- TOTAL BELGIUM 2,493,166 ---------- CANADA -- (8.3%) #* 5N Plus, Inc. 1,597 4,181 * Advantage Oil & Gas, Ltd. 4,130 16,795 Aecon Group, Inc. 1,864 25,833 # AG Growth International, Inc. 900 32,801 AGF Management, Ltd. Class B 1,802 23,799 Agnico Eagle Mines, Ltd. 3,798 112,776 Agrium, Inc.(008916108) 956 81,566 Agrium, Inc.(2213538) 700 59,752 Aimia, Inc. 4,823 85,252 Alacer Gold Corp. 5,702 15,805 # Alamos Gold, Inc. 2,800 44,606 # Algonquin Power & Utilities Corp. 5,400 34,855 Alimentation Couche Tard, Inc. Class B 1,100 74,504 # AltaGas, Ltd. 2,800 103,659 #* Angle Energy, Inc. 3,000 10,790 * Antrim Energy, Inc. 4,360 397 # ARC Resources, Ltd. 3,860 102,474 #* Argonaut Gold Inc. 4,400 24,476 Atco, Ltd. Class I 2,000 92,821 * Atrium Innovations, Inc. 1,900 34,605 * ATS Automation Tooling Systems, Inc. 3,050 42,182 AuRico Gold, Inc.(05155C105) 800 3,288 # AuRico Gold, Inc.(2287317) 7,525 31,250 * B2Gold Corp. 8,300 20,538 #* Ballard Power Systems, Inc. 10,800 14,605 # Bank of Montreal 9,179 639,312 Bank of Nova Scotia(064149107) 3,193 194,039 Bank of Nova Scotia(2076281) 10,879 661,410 * Bankers Petroleum, Ltd. 11,300 43,351 Barrick Gold Corp. 11,539 224,439 # Baytex Energy Corp. 821 34,268 # BCE, Inc. 3,527 153,474 Bell Aliant, Inc. 1,035 26,216 * Bellatrix Exploration, Ltd. 2,869 21,490 * Birchcliff Energy, Ltd. 1,100 7,860 # Black Diamond Group, Ltd. 1,100 28,812 * BlackBerry, Ltd.(09228F103) 7,501 59,333 #* BlackBerry, Ltd.(BCBHZ31) 3,974 31,368 #* BlackPearl Resources, Inc. 5,500 10,234 Bombardier, Inc. Class A 4,700 21,502 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- CANADA -- (Continued) Bombardier, Inc. Class B 22,025 $100,128 # Bonterra Energy Corp. 316 17,760 Brookfield Asset Management, Inc. Class A 4,056 160,583 # Brookfield Office Properties, Inc. 4,300 80,338 CAE, Inc. 3,208 36,767 Calfrac Well Services, Ltd. 1,008 31,420 Cameco Corp. 6,230 118,248 Canaccord Genuity Group, Inc. 2,723 17,289 Canada Bread Co., Ltd. 200 13,368 # Canadian Imperial Bank of Commerce(2170525) 4,415 375,592 Canadian Imperial Bank of Commerce(136069101) 498 42,405 # Canadian National Railway Co. 900 98,878 Canadian Natural Resources, Ltd.(136385101) 4,197 133,255 Canadian Natural Resources, Ltd.(2171573) 10,814 343,198 # Canadian Oil Sands, Ltd. 5,203 101,400 # Canadian Tire Corp., Ltd. Class A 2,097 194,646 Canadian Utilities, Ltd. Class A 1,600 58,789 # Canadian Western Bank 2,700 86,595 * Canam Group, Inc. Class A 3,700 40,100 # Canexus Corp. 3,600 25,067 * Canfor Corp. 2,800 58,033 # Canfor Pulp Products, Inc. 779 8,084 Canyon Services Group, Inc. 400 4,385 # Capital Power Corp. 2,241 46,426 Capstone Infrastructure Corp. 2,119 7,987 * Capstone Mining Corp. 8,100 21,519 Cascades, Inc. 2,800 15,683 * Catamaran Corp. 2,000 93,838 CCL Industries, Inc. Class B 615 42,233 * Celestica, Inc. 3,495 38,381 # Cenovus Energy, Inc.(B57FG04) 4,841 143,839 Cenovus Energy, Inc.(15135U109) 1,097 32,603 Centerra Gold, Inc. 4,100 16,398 #* Cequence Energy, Ltd. 4,200 7,654 * China Gold International Resources Corp., Ltd. 1,985 5,331 # CI Financial Corp. 2,000 66,523 # Cineplex, Inc. 1,135 45,720 Cogeco Cable, Inc. 1,000 47,283 Cogeco, Inc. 100 4,527 * COM DEV International, Ltd. 7,300 29,406 * Connacher Oil and Gas, Ltd. 25,008 4,677 Constellation Software, Inc. 235 42,810 # Corus Entertainment, Inc. Class B 1,105 25,753 Cott Corp. 1,772 14,514 * Crew Energy, Inc. 2,300 13,368 Davis + Henderson Corp. 1,700 43,778 * DeeThree Exploration, Ltd. 3,900 34,038 #* Denison Mines Corp. 9,271 10,226 * Descartes Systems Group, Inc. (The) 4,200 51,440 Dollarama, Inc. 1,000 85,954 * Dominion Diamond Corp. 1,359 18,352 Dorel Industries, Inc. Class B 800 29,724 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- CANADA -- (Continued) #* Dundee Precious Metals, Inc. 3,100 $ 13,231 #* Eastern Platinum, Ltd. 24,600 1,416 Emera, Inc. 500 14,741 Empire Co., Ltd. 1,200 88,367 # Enbridge Income Fund Holdings, Inc. 1,600 35,832 # Enbridge, Inc. 7,312 316,983 # Encana Corp. 7,156 128,206 * Endeavour Silver Corp. 3,000 12,459 Enerflex, Ltd. 1,300 18,416 * Energy Fuels, Inc. 10,254 1,377 # Enerplus Corp. 3,304 57,008 Ensign Energy Services, Inc. 3,200 54,691 Equitable Group, Inc. 1,300 60,970 # Exchange Income Corp. 500 9,586 Finning International, Inc. 4,696 108,274 First Capital Realty, Inc. 3,400 59,088 * First Majestic Silver Corp. 2,300 26,030 First Quantum Minerals, Ltd. 2,638 50,042 FirstService Corp. 900 37,410 * Fortuna Silver Mines, Inc. 6,100 24,162 Genivar, Inc. 1,100 31,481 Genworth MI Canada, Inc. 1,736 54,628 George Weston, Ltd. 1,400 114,052 # Gibson Energy, Inc. 3,545 87,074 Gildan Activewear, Inc.(375916103) 599 28,932 Gildan Activewear, Inc.(2254645) 675 32,538 GMP Capital, Inc. 337 2,007 Goldcorp, Inc.(380956409) 3,076 78,223 Goldcorp, Inc.(2676302) 4,500 114,631 #* Golden Star Resources, Ltd. 2,800 1,396 * Gran Tierra Energy, Inc. 5,876 44,296 * Great Basin Gold, Ltd. 10,000 60 * Great Canadian Gaming Corp. 4,400 54,101 # Great-West Lifeco, Inc. 1,500 46,396 # Home Capital Group, Inc. 900 71,429 # HudBay Minerals, Inc. 6,400 52,175 # Husky Energy, Inc. 3,300 93,811 IAMGOLD Corp.(450913108) 6,499 33,145 IAMGOLD Corp.(2446646) 8,500 43,452 #* Imax Corp. 1,600 46,543 * Imperial Metals Corp. 3,800 48,072 Imperial Oil, Ltd.(2454241) 1,900 82,968 Imperial Oil, Ltd.(453038408) 799 34,876 Indigo Books & Music, Inc. 1,191 12,851 Industrial Alliance Insurance & Financial Services, Inc. 2,300 103,149 Innergex Renewable Energy, Inc. 2,900 25,422 Intact Financial Corp. 900 56,133 * International Forest Products, Ltd. Class A 3,400 38,511 International Minerals Corp. 500 1,357 Intertape Polymer Group, Inc. 1,600 23,018 * Ithaca Energy, Inc. 6,562 15,356 #* Ivanhoe Energy, Inc. 2,820 1,920 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- CANADA -- (Continued) #* Jaguar Mining, Inc. 2,600 $ 474 # Jean Coutu Group PJC, Inc. (The) Class A 1,300 22,979 # Just Energy Group, Inc. 2,638 18,723 * Katanga Mining, Ltd. 20,369 10,745 * Kelt Exploration, Ltd. 600 4,949 # Keyera Corp. 1,400 82,847 # Killam Properties, Inc. 2,800 29,567 Kinross Gold Corp.(496902404) 13,576 68,830 Kinross Gold Corp.(B03Z841) 13,785 70,072 #* Kirkland Lake Gold, Inc. 1,200 4,189 #* Lake Shore Gold Corp. 9,481 3,592 Laurentian Bank of Canada 1,000 44,646 * Legacy Oil + Gas, Inc. 1,926 13,041 # Leisureworld Senior Care Corp. 1,738 17,736 Leon's Furniture, Ltd. 536 6,801 # Lightstream Resources, Ltd. 1,261 8,103 Linamar Corp. 1,800 60,527 # Loblaw Cos., Ltd. 2,244 102,639 * Long Run Exploration, Ltd. 583 3,245 #* Lundin Mining Corp. 14,510 65,407 MacDonald Dettwiler & Associates, Ltd. 1,243 94,836 Magna International, Inc. 3,300 279,502 Major Drilling Group International 2,100 16,556 Manitoba Telecom Services, Inc. 1,300 36,744 Manulife Financial Corp.(56501R106) 6,970 123,369 Manulife Financial Corp.(2492519) 19,166 339,516 # Maple Leaf Foods, Inc. 2,592 38,160 Martinrea International, Inc. 1,814 19,225 # Methanex Corp. 2,100 121,793 Metro, Inc. 1,200 75,074 # Migao Corp. 3,700 3,620 # Morneau Shepell, Inc. 591 8,106 # Mullen Group, Ltd. 2,000 53,594 National Bank of Canada 1,950 169,219 Nevsun Resources, Ltd.(64156L101) 7,157 26,123 Nevsun Resources, Ltd.(2631486) 8 29 # New Flyer Industries, Inc. 878 9,103 * New Gold, Inc. 7,300 42,848 Newalta Corp. 1,080 16,832 Norbord, Inc. 900 25,550 * Nordion, Inc. 2,200 18,209 #* North American Palladium, Ltd. 4,800 4,373 North West Co., Inc. (The) 1,300 32,330 # Northland Power, Inc. 2,700 42,779 * NuVista Energy, Ltd. 2,200 14,032 #* OceanaGold Corp. 11,653 19,447 Pacific Rubiales Energy Corp. 5,125 106,024 * Paladin Labs, Inc. 200 12,228 * Paramount Resources, Ltd. Class A 1,100 38,117 * Parex Resources, Inc. 2,921 16,893 # Parkland Fuel Corp. 1,800 32,991 # Pason Systems, Inc. 700 14,548 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- CANADA -- (Continued) * Pembina Pipeline Corp.(B4PPQG5) 800 $ 26,240 # Pembina Pipeline Corp.(B4PT2P8) 2,820 92,526 # Pengrowth Energy Corp. 13,105 84,214 # Penn West Petroleum, Ltd. 12,096 135,038 # Petrominerales, Ltd. 1,400 16,099 # Peyto Exploration & Development Corp. 2,442 73,597 * Pilot Gold, Inc. 325 284 #* Poseidon Concepts Corp. 6,629 19 Potash Corp. of Saskatchewan, Inc. 5,737 178,275 Precision Drilling Corp. 4,434 46,906 Progressive Waste Solutions, Ltd. 3,633 97,598 # Quebecor, Inc. Class B 2,400 59,341 #* Questerre Energy Corp. Class A 7,500 9,855 Reitmans Canada, Ltd. Class A 700 4,599 Richelieu Hardware, Ltd. 1,151 50,769 # Ritchie Bros Auctioneers, Inc. 1,800 35,580 * RMP Energy, Inc. 7,100 42,492 # Rogers Sugar, Inc. 1,700 8,886 # RONA, Inc. 2,096 24,565 # Royal Bank of Canada 12,404 833,001 # Russel Metals, Inc. 2,600 71,817 * San Gold Corp. 4,200 584 * Santonia Energy, Inc. 900 1,752 Saputo, Inc. 800 39,584 Savanna Energy Services Corp. 4,268 32,092 SEMAFO, Inc. 8,000 21,714 # Shaw Communications, Inc. Class B 1,951 46,668 ShawCor, Ltd. 1,300 54,648 Sherritt International Corp. 6,600 22,598 Shoppers Drug Mart Corp. 2,766 161,612 * Sierra Wireless, Inc. 2,595 46,866 #* Silver Standard Resources, Inc. 3,100 17,453 SNC-Lavalin Group, Inc. 1,900 79,834 * Southern Pacific Resource Corp. 18,837 11,743 #* SouthGobi Resources, Ltd. 1,700 1,989 Sprott Resource Corp. 7,300 19,884 Stantec, Inc. 879 52,235 # Student Transportation, Inc. 2,312 14,546 Sun Life Financial, Inc.(866796105) 5,198 174,965 # Sun Life Financial, Inc.(2566124) 3,599 121,227 Suncor Energy, Inc.(867224107) 8,061 293,017 Suncor Energy, Inc.(B3NB1P2) 18,330 666,114 * SunOpta, Inc. 3,100 33,359 # Superior Plus Corp. 2,600 27,729 # Surge Energy, Inc. 5,400 36,047 Talisman Energy, Inc.(87425E103) 6,635 82,805 Talisman Energy, Inc.(2068299) 10,900 135,904 * Taseko Mines, Ltd. 5,100 12,522 Teck Resources, Ltd. Class B(878742204) 999 26,713 # Teck Resources, Ltd. Class B(2879327) 6,200 165,904 # TELUS Corp. 4,008 140,000 * Tembec, Inc. 500 1,280 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ ----------- CANADA -- (Continued) * Teranga Gold Corp. 1,200 $ 679 #* Thompson Creek Metals Co., Inc. 4,800 15,468 Thomson Reuters Corp.(884903105) 900 33,813 # Thomson Reuters Corp.(2889371) 3,376 126,861 Tim Hortons, Inc. 1,300 77,602 TMX Group, Ltd. 200 9,121 Toromont Industries, Ltd. 1,300 28,802 # Toronto-Dominion Bank (The)(2897222) 9,020 827,385 Toronto-Dominion Bank (The)(891160509) 1,853 169,957 Torstar Corp. Class B 1,400 7,519 Total Energy Services, Inc. 1,800 31,869 * Tourmaline Oil Corp. 1,948 75,536 TransAlta Corp.(89346D107) 2,272 30,604 # TransAlta Corp.(2901628) 4,800 64,589 TransCanada Corp. 7,800 351,529 Transcontinental, Inc. Class A 2,900 46,310 TransForce, Inc. 757 16,764 * TransGlobe Energy Corp. 3,755 33,997 # Trilogy Energy Corp. 1,361 39,930 Trinidad Drilling, Ltd. 4,200 40,685 # Twin Butte Energy, Ltd. 13,123 27,941 Uni-Select, Inc. 100 2,321 * Valeant Pharmaceuticals International, Inc. 1,798 189,948 Valener, Inc. 1,900 28,264 # Veresen, Inc. 5,000 61,862 # Vermilion Energy, Inc. 767 42,159 West Fraser Timber Co., Ltd. 700 64,162 Western Energy Services Corp. 3,100 23,399 #* Westport Innovations, Inc. 1,396 32,696 Whistler Blackcomb Holdings, Inc. 791 11,000 # Whitecap Resources, Inc. 4,469 51,906 Wi-Lan, Inc. 9,000 28,312 Yamana Gold, Inc. 11,168 110,753 # Zargon Oil & Gas, Ltd. 1,700 12,571 ----------- TOTAL CANADA 18,671,608 ----------- CHINA -- (0.0%) * Hanfeng Evergreen, Inc. 2,300 2,206 ----------- DENMARK -- (1.0%) ALK-Abello A.S. 90 8,551 AP Moeller--Maersk A.S. Class B 13 125,775 * Auriga Industries Class B 790 31,002 * Bang & Olufsen A.S. 1,307 12,624 Carlsberg A.S. Class B 1,319 131,750 Chr Hansen Holding A.S. 1,699 62,954 Coloplast A.S. Class B 750 48,918 D/S Norden A.S. 884 38,882 * Danske Bank A.S. 9,764 228,144 # FLSmidth & Co. A.S. 912 45,517 * Genmab A.S. 711 30,891 GN Store Nord A.S. 7,896 180,130 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ ---------- DENMARK -- (Continued) H Lundbeck A.S. 2,698 $ 57,930 Jeudan A.S. 126 13,287 NKT Holding A.S. 1,148 55,712 Novo Nordisk A.S. Class B 176 29,313 Novo Nordisk A.S. Sponsored ADR 2,933 488,843 Novozymes A.S. Class B 1,535 60,119 Pandora A.S. 2,178 103,819 Ringkjoebing Landbobank A.S. 137 27,576 Royal UNIBREW 426 54,688 Schouw & Co. 1,062 39,607 SimCorp A.S. 500 16,369 * Spar Nord Bank A.S. 1,200 10,720 * Sydbank A.S. 1,413 41,782 TDC A.S. 307 2,773 * Topdanmark A.S. 3,450 93,901 Tryg A.S. 393 35,888 United International Enterprises 46 8,813 #* Vestas Wind Systems A.S. 7,236 193,902 * William Demant Holding A.S. 401 39,710 ---------- TOTAL DENMARK 2,319,890 ---------- FINLAND -- (1.5%) Afarak Group Oyj 1,697 807 # Ahlstrom Oyj 715 8,875 Alma Media Oyj 1,118 4,777 Amer Sports Oyj 1,181 24,231 Atria P.L.C. 677 7,490 # Cargotec Oyj 1,156 42,212 * Caverion Corp. 2,419 18,910 Citycon Oyj 9,008 32,112 Cramo Oyj 704 14,075 Elisa Oyj 475 11,901 F-Secure Oyj 5,286 13,662 Finnair Oyj 1,807 6,897 Fiskars Oyj Abp 651 16,666 Fortum Oyj 9,118 203,395 HKScan Oyj Class A 1,428 6,535 Huhtamaki Oyj 4,004 96,246 Kemira Oyj 3,102 49,806 Kesko Oyj Class A 213 7,333 Kesko Oyj Class B 2,630 87,395 Kone Oyj Class B 1,397 123,163 Konecranes Oyj 954 32,140 Lassila & Tikanoja Oyj 682 14,301 Lemminkainen Oyj 61 1,225 Metsa Board Oyj 7,992 31,012 # Metso Oyj 4,261 167,713 * Munksjo Oyj 179 1,142 Neste Oil Oyj 5,289 104,872 #* Nokia Oyj 54,184 411,841 * Nokia Oyj Sponsored ADR 49,629 378,669 Nokian Renkaat Oyj 1,662 84,058 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ ---------- FINLAND -- (Continued) Olvi Oyj Class A 412 $ 14,849 Oriola-KD Oyj Class B 378 1,226 Orion Oyj Class A 403 10,790 Orion Oyj Class B 364 9,783 #* Outokumpu Oyj 31,824 17,673 # Outotec Oyj 1,688 16,693 PKC Group Oyj 1,042 33,984 Pohjola Bank P.L.C. Class A 2,803 51,045 * Poyry Oyj 706 3,739 Raisio P.L.C. Class V 3,077 17,905 Ramirent Oyj 548 6,585 Rautaruukki Oyj 4,022 34,787 Sampo Class A 4,374 206,893 # Sanoma Oyj 2,591 22,480 # Stockmann Oyj Abp 889 14,194 Stora Enso Oyj Class R 27,562 255,937 # Technopolis Oyj 3,759 25,510 Tieto Oyj 1,835 40,314 Tikkurila Oyj 348 9,022 UPM-Kymmene Oyj 27,754 440,657 Vacon P.L.C. 296 21,999 Vaisala Oyj Class A 69 1,686 Wartsila Oyj Abp 4,272 189,555 YIT Oyj 2,419 31,377 ---------- TOTAL FINLAND 3,482,144 ---------- FRANCE -- (7.8%) Accor SA 1,562 69,815 #* Air France-KLM 4,416 46,055 Air Liquide SA 2,244 305,031 Albioma 158 3,862 * Alcatel-Lucent 28,475 109,089 Alstom SA 2,146 79,661 Alten SA 421 19,036 Altran Technologies SA 4,114 36,460 April 128 2,721 Arkema SA 1,984 224,461 AtoS 1,663 141,755 AXA SA 18,574 462,779 AXA SA Sponsored ADR 2,900 72,529 Axway Software SA 228 6,844 * Beneteau SA 1,571 28,768 BioMerieux 95 9,535 BNP Paribas SA 10,243 755,658 Bollore SA 89 48,533 Bonduelle SCA 536 13,374 Bongrain SA 214 15,651 Bourbon SA 1,288 36,708 Bouygues SA 3,354 130,862 * Bull 5,424 23,951 Bureau Veritas SA 2,468 74,449 Cap Gemini SA 2,951 193,521 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- FRANCE -- (Continued) Carrefour SA 8,480 $309,542 Casino Guichard Perrachon SA 1,610 180,972 * CGG Sponsored ADR 5,600 122,920 Christian Dior SA 414 78,551 Cie de St-Gobain 8,707 457,031 Cie Generale des Etablissements Michelin 4,147 432,109 * Club Mediterranee SA 780 18,403 CNP Assurances 3,729 65,690 * Credit Agricole SA 27,628 332,186 Danone SA 3,841 284,480 Dassault Systemes SA 148 17,980 Dassault Systemes SA ADR 500 60,900 * Derichebourg SA 4,522 15,803 Eiffage SA 479 28,387 Electricite de France SA 2,758 96,524 Essilor International SA 1,774 190,111 Esso SA Francaise 72 4,634 Etablissements Maurel et Prom 1,547 24,907 Eurofins Scientific 301 82,401 European Aeronautic Defence and Space Co. NV 4,252 291,366 Eutelsat Communications SA 885 27,991 Faiveley Transport SA 99 7,726 #* Faurecia 1,157 33,719 Fimalac 138 8,567 GDF Suez 11,025 273,241 GL Events 729 15,746 Groupe Eurotunnel SA 12,452 120,546 * Groupe Fnac 173 4,835 Groupe Steria SCA 1,736 32,077 * Haulotte Group SA 105 1,280 Havas SA 7,168 59,605 Imerys SA 712 57,116 # Ingenico 1,054 79,175 Interparfums SA 388 15,284 IPSOS 691 29,087 JCDecaux SA 1,564 62,685 Kering 1,393 315,696 Korian 218 6,810 L'Oreal SA 2,948 503,361 Lafarge SA 4,346 299,854 Lagardere SCA 3,917 142,302 Legrand SA 2,964 167,987 LISI 210 32,412 LVMH Moet Hennessy Louis Vuitton SA 2,196 421,622 Maisons France Confort 226 8,334 # Manitou BF SA 582 10,962 Medica SA 2,026 52,062 Mersen 738 26,996 Metropole Television SA 533 12,261 Natixis 26,690 143,528 Naturex 308 24,313 # Neopost SA 1,054 79,578 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- FRANCE -- (Continued) # Nexans SA 1,179 $ 52,420 Nexity SA 965 37,784 Norbert Dentressangle SA 3 340 * NRJ Group 2,272 21,895 Orange 19,995 274,853 Orange SA ADR 5,900 81,007 * Orco Property Group 739 2,228 Orpea 614 33,117 Pernod-Ricard SA 2,534 304,355 #* Peugeot SA 7,191 94,597 #* Pierre & Vacances SA 107 2,874 Plastic Omnium SA 1,422 40,625 Publicis Groupe SA 1,353 112,515 Rallye SA 845 35,960 Remy Cointreau SA 428 42,159 Renault SA 7,045 614,678 Rexel SA 4,878 122,159 Rubis SCA 943 58,869 Sa des Ciments Vicat 291 21,743 Safran SA 3,024 192,804 Saft Groupe SA 1,628 51,624 Samse SA 4 396 Sanofi 3,913 417,216 Sanofi ADR 10,456 559,187 Schneider Electric SA 6,668 561,097 SCOR SE 2,819 99,499 SEB SA 721 64,693 * Sequana SA 493 4,083 SES SA 2,870 83,476 Societe BIC SA 594 74,176 Societe d'Edition de Canal + 1,800 14,842 Societe Generale SA 15,740 889,145 Societe Television Francaise 1 2,666 51,368 Sodexo 886 85,965 #* SOITEC 13,229 29,901 #* Solocal Group 2,821 6,572 Sopra Group SA 228 19,929 Stef 27 1,815 STMicroelectronics NV(5962332) 16,086 123,734 # STMicroelectronics NV(861012102) 8,829 67,718 Suez Environnement Co. 3,790 66,087 Technip SA 1,708 178,894 Teleperformance 1,858 98,353 Thales SA 2,607 159,668 * Theolia SA 478 895 Total SA 7,373 452,355 Total SA Sponsored ADR 8,500 520,030 * Trigano SA 1,235 26,212 * UBISOFT Entertainment 5,735 73,566 Valeo SA 1,860 184,008 Vallourec SA 2,431 144,697 * Valneva SE 115 748 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ ----------- FRANCE -- (Continued) Veolia Environnement SA 8,756 $ 150,215 Veolia Environnement SA ADR 1,059 18,225 Viel et Co. 300 990 # Vilmorin & Cie 141 16,611 Vinci SA 4,456 285,122 Virbac SA 123 24,742 Vivendi SA 23,608 597,739 Zodiac Aerospace 356 56,963 ----------- TOTAL FRANCE 17,492,301 ----------- GERMANY -- (5.9%) * Aareal Bank AG 1,754 67,271 Adidas AG 3,639 414,648 * ADVA Optical Networking SE 1,788 9,544 #* Air Berlin P.L.C. 3,958 9,117 * Aixtron SE NA 1,469 21,084 Allianz SE 4,628 777,052 Allianz SE ADR 10,000 168,300 Aurubis AG 1,354 85,309 # Axel Springer AG 858 51,772 BASF SE 5,225 542,431 Bauer AG 98 2,404 Bayer AG 1,481 183,721 Bayerische Motoren Werke AG 2,076 234,958 BayWa AG 329 16,755 Bechtle AG 976 62,589 Beiersdorf AG 1,586 151,230 Bijou Brigitte AG 249 26,239 Bilfinger SE 773 85,780 Biotest AG 111 9,178 Brenntag AG 446 75,467 Carl Zeiss Meditec AG 420 13,267 # Celesio AG 3,368 104,711 Cewe Stiftung & Co. KGAA 374 20,912 Comdirect Bank AG 2,270 25,799 * Commerzbank AG 26,060 333,292 # CompuGroup Medical AG 444 11,566 * Constantin Medien AG 3,713 8,305 Continental AG 1,857 339,584 CropEnergies AG 1,674 15,661 CTS Eventim AG 508 24,766 Daimler AG 7,587 621,184 # Delticom AG 86 4,535 Deutsche Bank AG(5750355) 12,619 609,865 # Deutsche Bank AG(D18190898) 5,494 265,470 Deutsche Boerse AG 611 45,964 * Deutsche Lufthansa AG 4,149 80,213 Deutsche Post AG 17,877 603,731 Deutsche Telekom AG 23,239 365,194 # Deutsche Telekom AG Sponsored ADR 6,800 107,372 # Deutsche Wohnen AG 3,412 64,169 * Deutz AG 1,775 16,836 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- GERMANY -- (Continued) #* Dialog Semiconductor P.L.C. 987 $ 18,964 # DMG MORI SEIKI AG 3,892 127,936 Drillisch AG 2,194 56,541 Duerr AG 916 80,167 E.ON SE 13,117 239,103 Elmos Semiconductor AG 1,078 14,160 ElringKlinger AG 1,056 44,900 Fielmann AG 439 49,094 Fraport AG Frankfurt Airport Services Worldwide 1,100 85,099 Freenet AG 2,915 75,716 Fresenius Medical Care AG & Co. KGaA 1,789 118,228 Fresenius Medical Care AG & Co. KGaA ADR 1,600 52,672 Fresenius SE & Co. KGaA 1,784 231,587 Fuchs Petrolub AG 292 19,851 * GAGFAH SA 3,299 46,763 GEA Group AG 2,066 89,794 Gerresheimer AG 1,019 67,406 Gesco AG 211 21,461 GFK SE 415 24,268 Grammer AG 916 42,621 Grenkeleasing AG 342 33,834 * GSW Immobilien AG 1,217 56,594 * H&R AG 95 1,150 HeidelbergCement AG 3,032 238,739 #* Heidelberger Druckmaschinen AG 5,179 13,845 Henkel AG & Co. KGaA 1,662 153,283 Hochtief AG 1,313 118,754 Hugo Boss AG 282 36,735 Indus Holding AG 446 16,027 Infineon Technologies AG 7,467 72,238 Infineon Technologies AG ADR 7,164 68,774 Jenoptik AG 3,400 59,397 # K+S AG 2,100 53,360 * Kloeckner & Co. SE 2,194 30,947 Kontron AG 4,419 30,226 Krones AG 310 27,133 # KUKA AG 785 35,727 KWS Saat AG 54 19,284 Lanxess AG 1,831 128,594 Leoni AG 1,292 87,448 Linde AG 1,794 340,547 LPKF Laser & Electronics AG 1,858 38,705 MAN SE 957 115,289 Merck KGaA 1,135 188,808 Metro AG 2,703 126,733 MLP AG 696 4,343 * Morphosys AG 1,004 77,662 MTU Aero Engines AG 936 93,349 Muenchener Rueckversicherungs AG 2,173 453,358 MVV Energie AG 114 3,771 * Nordex SE 320 5,609 Norma Group SE 717 35,857 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ ----------- GERMANY -- (Continued) #* Osram Licht AG 133 $ 6,904 * Patrizia Immobilien AG 3,605 33,766 Pfeiffer Vacuum Technology AG 214 24,918 PNE Wind AG 5,346 21,158 # Puma SE 191 56,822 QSC AG 4,612 28,687 R Stahl AG 392 18,975 Rational AG 48 14,699 Rheinmetall AG 937 57,929 Rhoen Klinikum AG 3,216 89,876 RWE AG 923 34,005 SAP AG 2,396 187,492 # SAP AG Sponsored ADR 3,560 278,926 SGL Carbon SE 966 37,671 Siemens AG 1,333 170,347 Siemens AG Sponsored ADR 4,534 580,397 Sixt SE 337 10,155 * Sky Deutschland AG 2,972 29,289 Software AG 1,192 44,137 Stada Arzneimittel AG 2,098 120,597 * Suss Microtec AG 1,680 17,816 Symrise AG 1,802 76,295 TAG Immobilien AG 2,061 24,896 Takkt AG 314 6,235 * ThyssenKrupp AG 3,042 77,612 #* TUI AG 4,115 54,517 Vossloh AG 284 29,295 VTG AG 506 10,553 # Wacker Chemie AG 681 63,951 Wacker Neuson SE 1,285 19,739 Wincor Nixdorf AG 165 10,910 ----------- TOTAL GERMANY 13,188,265 ----------- GREECE -- (0.2%) * Alpha Bank AE 3,571 3,199 Athens Water Supply & Sewage Co. SA (The) 1,035 11,679 * Bank of Cyprus P.L.C. 19,567 -- Bank of Greece 135 2,935 * Fourlis Holdings SA 615 2,914 * GEK Terna Holding Real Estate Construction SA 1,220 5,194 Hellenic Petroleum SA 3,218 41,844 * Hellenic Telecommunications Organization SA 10,084 126,911 * JUMBO SA 3,858 51,765 Motor Oil Hellas Corinth Refineries SA 1,306 15,526 * Mytilineos Holdings SA 4,261 34,407 * National Bank of Greece SA 7,669 43,560 National Bank of Greece SA ADR 91 532 OPAP SA 2,782 34,546 * Piraeus Bank SA 2,891 6,036 Public Power Corp. SA 1,803 26,796 * Titan Cement Co. SA 1,093 29,730 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- GREECE -- (Continued) * TT Hellenic Postbank SA 3,483 $ -- -------- TOTAL GREECE 437,574 -------- HONG KONG -- (1.5%) AAC Technologies Holdings, Inc. 12,500 54,922 # AIA Group, Ltd. 55,000 279,281 Allied Properties HK, Ltd. 48,000 7,925 Associated International Hotels, Ltd. 4,000 11,771 BOC Hong Kong Holdings, Ltd. 33,500 108,973 * Brightoil Petroleum Holdings, Ltd. 83,000 14,236 Cathay Pacific Airways, Ltd. 19,000 37,639 Cheung Kong Holdings, Ltd. 8,000 125,143 Cheung Kong Infrastructure Holdings, Ltd. 4,000 27,835 Chow Sang Sang Holdings International, Ltd. 11,000 35,675 Chow Tai Fook Jewellery Group, Ltd. 14,200 23,547 CLP Holdings, Ltd. 14,000 112,751 Dickson Concepts International, Ltd. 6,500 4,047 EcoGreen Fine Chemicals Group, Ltd. 28,000 6,149 Esprit Holdings, Ltd. 12,900 23,785 * G-Resources Group, Ltd. 323,400 9,665 #* Genting Hong Kong, Ltd. 96,000 43,557 Giordano International, Ltd. 14,000 13,133 Glorious Sun Enterprises, Ltd. 14,000 3,196 Hang Lung Group, Ltd. 10,000 52,771 Hang Lung Properties, Ltd. 27,000 88,914 Hang Seng Bank, Ltd. 3,600 60,143 # Harbour Centre Development, Ltd. 2,000 3,669 Henderson Land Development Co., Ltd. 7,726 45,667 HKR International, Ltd. 48,800 23,865 Hong Kong & China Gas Co., Ltd. 13,310 31,023 Hong Kong Aircraft Engineering Co., Ltd. 800 10,729 Hong Kong Exchanges and Clearing, Ltd. 5,000 80,854 Hongkong & Shanghai Hotels (The) 6,500 10,229 Hongkong Chinese, Ltd. 58,000 12,879 Hopewell Holdings, Ltd. 8,500 28,680 Hutchison Whampoa, Ltd. 5,000 62,271 Hysan Development Co., Ltd. 10,000 46,843 K Wah International Holdings, Ltd. 35,000 19,193 Kerry Properties, Ltd. 29,000 126,134 Kowloon Development Co., Ltd. 7,000 8,641 L'Occitane International SA 4,250 9,640 Li & Fung, Ltd. 73,360 103,146 Luk Fook Holdings International, Ltd. 4,000 14,228 * Melco Crown Entertainment, Ltd. ADR 1,296 42,975 MGM China Holdings, Ltd. 14,400 49,838 # Midland Holdings, Ltd. 18,000 7,335 MTR Corp., Ltd. 10,051 38,872 New World Development Co., Ltd. 41,936 58,123 Newocean Energy Holdings, Ltd. 50,000 30,574 NWS Holdings, Ltd. 16,185 25,358 Orient Overseas International, Ltd. 4,000 20,660 Pacific Basin Shipping, Ltd. 62,000 44,368 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- HONG KONG -- (Continued) Pacific Textile Holdings, Ltd. 20,000 $ 27,398 Paliburg Holdings, Ltd. 28,000 8,993 PCCW, Ltd. 33,000 14,944 Power Assets Holdings, Ltd. 13,500 112,297 Prada SpA 3,200 31,180 Public Financial Holdings, Ltd. 6,000 3,136 SA SA International Holdings, Ltd. 38,000 41,602 Samsonite International SA 15,000 40,905 Sands China, Ltd. 16,000 114,174 Shangri-La Asia, Ltd. 12,000 22,077 Shun Tak Holdings, Ltd. 11,000 6,372 Singamas Container Holdings, Ltd. 96,000 22,281 Sino Land Co., Ltd. 74,824 104,940 Stella International Holdings, Ltd. 5,000 12,341 Sun Hung Kai & Co., Ltd. 4,000 2,252 Sun Hung Kai Properties, Ltd. 17,000 222,240 Swire Properties, Ltd. 8,800 23,836 Techtronic Industries Co. 32,000 80,449 Television Broadcasts, Ltd. 2,000 11,680 Texwinca Holdings, Ltd. 14,000 14,303 Tongda Group Holdings, Ltd. 270,000 15,325 Transport International Holdings, Ltd. 12,000 27,022 Trinity, Ltd. 12,000 4,486 Victory City International Holdings, Ltd. 41,042 5,765 Vitasoy International Holdings, Ltd. 10,000 12,895 VST Holdings, Ltd. 74,400 14,683 VTech Holdings, Ltd. 1,400 19,992 Wharf Holdings, Ltd. 14,000 118,355 Wheelock & Co., Ltd. 15,000 76,743 Wynn Macau, Ltd. 4,800 18,302 Xinyi Glass Holdings, Ltd. 34,000 33,717 Yue Yuen Industrial Holdings, Ltd. 10,500 28,832 ---------- TOTAL HONG KONG 3,394,369 ---------- IRELAND -- (0.2%) * Anglo Irish Bank Corp. P.L.C. 5,570 -- * Bank of Ireland 87,494 31,978 * Bank of Ireland Sponsored ADR 30 436 C&C Group P.L.C.(B010DT8) 1,711 9,977 C&C Group P.L.C.(B011Y09) 4,812 28,171 CRH P.L.C. 5,010 121,911 CRH P.L.C. Sponsored ADR 372 9,107 Dragon Oil P.L.C. 5,185 48,843 FBD Holdings P.L.C. 1,875 40,448 Glanbia P.L.C. 4,032 56,439 * Kenmare Resources P.L.C. 953 307 Kingspan Group P.L.C. 717 11,991 Paddy Power P.L.C. 456 37,145 Smurfit Kappa Group P.L.C. 4,716 114,158 ---------- TOTAL IRELAND 510,911 ---------- INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- ISRAEL -- (0.2%) Azrieli Group 822 $ 26,355 Bezeq The Israeli Telecommunication Corp., Ltd. 5,359 9,318 * Ceragon Networks, Ltd. 1,170 4,060 Clal Industries, Ltd. 2,565 11,432 Clal Insurance Enterprises Holdings, Ltd. 670 13,130 Delek Group, Ltd. 148 51,105 Elbit Systems, Ltd. 533 28,447 * EZchip Semiconductor, Ltd.(6554998) 325 8,560 * EZchip Semiconductor, Ltd.(M4146Y108) 400 10,360 First International Bank Of Israel, Ltd. 1,094 17,951 Frutarom Industries, Ltd. 1,280 22,934 * Given Imaging, Ltd. 902 18,125 Harel Insurance Investments & Financial Services, Ltd. 3,840 22,517 Israel Chemicals, Ltd. 7,094 58,648 * Israel Discount Bank, Ltd. Class A 2,038 4,067 Menorah Mivtachim Holdings, Ltd. 1,148 13,214 Migdal Insurance & Financial Holding, Ltd. 6,903 12,050 * Nitsba Holdings 1995, Ltd. 720 10,083 * Oil Refineries, Ltd. 30,902 9,988 Osem Investments, Ltd. 1,359 29,979 * Partner Communications Co., Ltd. 1,994 16,373 * Paz Oil Co., Ltd. 79 12,263 Strauss Group, Ltd. 1,238 21,831 -------- TOTAL ISRAEL 432,790 -------- ITALY -- (2.1%) A2A SpA 14,901 16,766 ACEA SpA 926 9,635 Alerion Cleanpower SpA 2,085 10,142 Amplifon SpA 7,609 40,565 Ansaldo STS SpA 3,594 38,142 * Arnoldo Mondadori Editore SpA 3,462 7,385 Assicurazioni Generali SpA 17,851 417,338 Astaldi SpA 2,155 20,993 Atlantia SpA 4,137 90,677 * Autogrill SpA 1,407 12,630 Azimut Holding SpA 3,472 88,075 Banca Generali SpA 1,608 41,977 #* Banca Monte dei Paschi di Siena SpA 163,052 51,406 * Banca Piccolo Credito Valtellinese Scarl 5,966 10,676 * Banca Popolare dell'Emilia Romagna S.c.r.l. 10,743 103,208 #* Banca Popolare dell'Etruria e del Lazio 1,087 1,014 #* Banca Popolare di Milano Scarl 36,030 24,068 Banca Popolare di Sondrio Scarl 7,370 42,420 * Banco Popolare 2,213 4,396 * BasicNet SpA 3,053 7,961 * CIR-Compagnie Industriali Riunite SpA 12,797 21,286 * CNH Industrial NV 5,316 62,867 Credito Emiliano SpA 1,297 9,805 De'Longhi SpA 4,371 67,501 # DiaSorin SpA 691 32,703 Enel SpA 62,616 276,257 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- ITALY -- (Continued) Eni SpA 24,279 $ 616,369 Eni SpA Sponsored ADR 600 30,480 ERG SpA 971 11,858 Esprinet SpA 1,834 13,332 * Falck Renewables SpA 2,083 3,547 * Fiat SpA 21,453 168,336 #* Finmeccanica SpA 10,748 78,762 * Gemina SpA 6,656 16,149 # Geox SpA 707 1,936 * Gruppo Editoriale L'Espresso SpA 2,471 4,924 Gtech Spa 1,126 34,196 # Hera SpA 13,780 27,763 * IMMSI SpA 13,995 8,641 * Intek Group SpA 9,436 4,072 Interpump Group SpA 2,221 24,700 Intesa Sanpaolo SpA 140,170 347,744 Iren SpA 22,837 34,145 Italcementi SpA 3,075 27,348 * Italmobiliare SpA 111 3,619 * Mediaset SpA 9,368 46,781 * Milano Assicurazioni SpA 5,077 4,331 Piaggio & C SpA 7,738 22,330 # Pirelli & C. SpA 5,139 72,291 * Prelios SpA 220 187 Prysmian SpA 1,451 35,444 Recordati SpA 2,408 31,630 * Safilo Group SpA 1,166 23,838 Saipem SpA 3,018 70,601 #* Saras SpA 7,534 9,325 Snam SpA 17,646 90,921 Societa Cattolica di Assicurazioni S.c.r.l. 1,446 36,610 Societa Iniziative Autostradali e Servizi SpA 3,086 32,330 Sogefi SpA 5,901 33,559 * Sorin SpA 5,946 16,381 Telecom Italia SpA 166,554 162,481 Telecom Italia SpA Sponsored ADR 6,420 62,659 Tenaris SA 1,995 46,672 Tenaris SA ADR 2,200 102,982 Terna Rete Elettrica Nazionale SpA 18,558 91,869 Tod's SpA 420 69,893 UniCredit SpA 72,981 547,838 Unione di Banche Italiane SCPA 8,864 61,263 Unipol Gruppo Finanziario SpA 10,012 53,085 Vittoria Assicurazioni SpA 2,148 25,527 * World Duty Free SpA 1,407 15,589 * Yoox SpA 2,170 78,064 ---------- TOTAL ITALY 4,812,295 ---------- JAPAN -- (20.1%) 77 Bank, Ltd. (The) 5,000 24,729 Accordia Golf Co., Ltd. 3,700 40,608 ADEKA Corp. 4,200 49,386 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- JAPAN -- (Continued) Advan Co., Ltd. 500 $ 6,159 # Advantest Corp. 1,800 21,542 # Advantest Corp. ADR 500 6,150 # Aeon Co., Ltd. 11,800 161,028 Aica Kogyo Co., Ltd. 2,900 59,368 Aichi Bank, Ltd. (The) 300 13,634 Aichi Steel Corp. 2,000 10,252 Aida Engineering, Ltd. 4,900 47,366 Ain Pharmaciez, Inc. 600 26,026 Air Water, Inc. 4,000 57,177 Aisin Seiki Co., Ltd. 2,600 105,623 Ajinomoto Co., Inc. 6,000 83,958 Akita Bank, Ltd. (The) 7,000 17,575 Alfresa Holdings Corp. 1,300 71,053 Alpine Electronics, Inc. 2,300 27,845 * Alps Electric Co., Ltd. 7,000 61,429 Amada Co., Ltd. 6,000 51,615 Amano Corp. 3,100 30,371 ANA Holdings, Inc. 5,000 10,446 Anritsu Corp. 2,000 26,224 AOI Electronic Co., Ltd. 200 3,027 AOKI Holdings, Inc. 800 26,611 Aomori Bank, Ltd. (The) 6,000 15,650 # Aoyama Trading Co., Ltd. 1,600 40,796 Arakawa Chemical Industries, Ltd. 300 3,013 Arcland Sakamoto Co., Ltd. 900 13,445 Arcs Co., Ltd. 2,023 37,919 #* Arnest One Corp. 2,000 54,917 Asahi Diamond Industrial Co., Ltd. 3,400 33,006 Asahi Glass Co., Ltd. 29,000 179,105 # Asahi Group Holdings, Ltd. 5,500 148,745 Asahi Kasei Corp. 44,000 334,866 Asatsu-DK, Inc. 300 8,245 Asics Corp. 4,300 75,812 Astellas Pharma, Inc. 5,400 301,030 Autobacs Seven Co., Ltd. 1,200 17,497 # Avex Group Holdings, Inc. 2,300 58,281 Axial Retailing, Inc. 400 6,508 Azbil Corp. 3,500 84,331 Bando Chemical Industries, Ltd. 3,000 11,705 # Bank of Iwate, Ltd. (The) 300 13,625 Bank of Kyoto, Ltd. (The) 5,000 44,056 Bank of Okinawa, Ltd. (The) 300 11,611 Bank of Saga, Ltd. (The) 8,000 17,191 Bank of the Ryukyus, Ltd. 1,800 19,643 # Benesse Holdings, Inc. 1,200 44,726 # Bic Camera, Inc. 60 29,499 Bridgestone Corp. 6,200 212,553 Brother Industries, Ltd. 5,600 63,629 Bunka Shutter Co., Ltd. 6,000 33,642 Calsonic Kansei Corp. 4,000 19,231 Canon Electronics, Inc. 1,800 33,644 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- JAPAN -- (Continued) Canon Marketing Japan, Inc. 3,600 $ 48,228 Canon, Inc. 6,300 198,807 # Canon, Inc. Sponsored ADR 8,300 262,031 # Casio Computer Co., Ltd. 9,200 88,057 Cawachi, Ltd. 500 9,405 Central Glass Co., Ltd. 7,000 24,345 Century Tokyo Leasing Corp. 2,300 72,761 * Chiba Kogyo Bank, Ltd. (The) 3,300 25,152 Chiyoda Co., Ltd. 1,200 26,339 Chiyoda Corp. 3,000 38,044 Chubu Electric Power Co., Inc. 6,400 94,740 Chubu Shiryo Co., Ltd. 1,000 5,818 Chugai Pharmaceutical Co., Ltd. 3,000 70,489 Chugoku Electric Power Co., Inc. (The) 5,700 87,373 Chugoku Marine Paints, Ltd. 2,000 11,425 Chukyo Bank, Ltd. (The) 8,000 14,431 Chuo Spring Co., Ltd. 1,000 3,126 Citizen Holdings Co., Ltd. 9,500 67,779 CKD Corp. 5,100 47,343 Cleanup Corp. 600 5,265 CMK Corp. 2,600 7,493 Coca-Cola Central Japan Co., Ltd. 500 8,855 Coca-Cola West Co., Ltd. 2,100 42,594 Cocokara fine, Inc. 400 11,394 COMSYS Holdings Corp. 1,600 22,214 Cosel Co., Ltd. 600 7,512 #* Cosmo Oil Co., Ltd. 35,000 61,628 Dai Nippon Printing Co., Ltd. 14,000 147,084 Dai-ichi Life Insurance Co., Ltd. (The) 400 5,710 Daibiru Corp. 1,100 14,018 Daicel Corp. 10,000 84,288 Daido Steel Co., Ltd. 17,000 97,756 Daidoh, Ltd. 500 3,422 #* Daiei, Inc. (The) 1,350 4,681 Daifuku Co., Ltd. 1,500 19,289 Daihatsu Motor Co., Ltd. 2,000 38,832 Daihen Corp. 2,000 8,545 # Daiichi Sankyo Co., Ltd. 8,000 148,327 Daikin Industries, Ltd. 2,600 149,587 Daikyo, Inc. 12,000 37,276 Dainichiseika Color & Chemicals Manufacturing Co., Ltd. 4,000 16,638 Dainippon Sumitomo Pharma Co., Ltd. 4,900 65,935 Daio Paper Corp. 1,000 7,404 Daisan Bank, Ltd. (The) 2,000 3,278 Daiseki Co., Ltd. 1,100 21,604 Daito Trust Construction Co., Ltd. 900 91,893 Daiwa House Industry Co., Ltd. 12,000 240,405 Daiwa Securities Group, Inc. 19,000 173,542 Daiwabo Holdings Co., Ltd. 8,000 15,331 DCM Holdings Co., Ltd. 1,300 9,083 Denki Kagaku Kogyo KK 20,000 83,875 Denso Corp. 4,200 201,887 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- JAPAN -- (Continued) Dentsu, Inc. 4,500 $170,020 DIC Corp. 32,000 92,644 # Disco Corp. 800 50,555 # DMG Mori Seiki Co., Ltd. 1,900 30,822 Doutor Nichires Holdings Co., Ltd. 1,900 34,509 Dowa Holdings Co., Ltd. 10,000 94,378 Duskin Co., Ltd. 1,300 26,424 East Japan Railway Co. 2,600 225,864 Ebara Corp. 18,000 96,774 # EDION Corp. 1,300 6,508 Ehime Bank, Ltd. (The) 8,000 19,245 Eighteenth Bank, Ltd. (The) 3,000 6,911 Eisai Co., Ltd. 1,400 54,995 Eizo Corp. 1,100 27,069 Electric Power Development Co., Ltd. 1,700 54,328 Enplas Corp. 300 19,778 ESPEC Corp. 700 5,451 Exedy Corp. 1,300 38,610 Ezaki Glico Co., Ltd. 1,000 11,110 FALCO SD HOLDINGS Co., Ltd. 200 2,612 FamilyMart Co., Ltd. 1,200 53,756 Fancl Corp. 1,500 17,838 FANUC Corp. 1,900 304,774 Fast Retailing Co., Ltd. 300 100,984 FCC Co., Ltd. 2,100 47,974 FIDEA Holdings Co., Ltd. 5,200 10,258 Foster Electric Co., Ltd. 1,900 37,175 FP Corp. 500 38,635 Fuji Co. Ltd/Ehime 1,000 17,996 Fuji Corp., Ltd. 1,100 7,541 Fuji Electric Co., Ltd. 22,000 98,624 Fuji Heavy Industries, Ltd. 9,000 246,074 Fuji Media Holdings, Inc. 2,800 55,819 Fuji Oil Co. Ltd/Osaka 1,100 20,047 Fuji Seal International, Inc. 1,300 39,228 Fuji Soft, Inc. 600 11,929 FUJIFILM Holdings Corp. 6,700 163,907 Fujikura, Ltd. 11,000 50,195 Fujimori Kogyo Co., Ltd. 1,000 29,766 Fujitec Co., Ltd. 6,000 73,779 Fujitsu General, Ltd. 3,000 36,349 * Fujitsu, Ltd. 47,000 201,922 FuKoKu Co., Ltd. 200 1,707 Fukui Bank, Ltd. (The) 7,000 15,267 Fukuoka Financial Group, Inc. 13,000 58,636 Furukawa Co., Ltd. 17,000 35,441 # Furukawa Electric Co., Ltd. 11,000 25,496 * Futaba Industrial Co., Ltd. 500 1,863 Fuyo General Lease Co., Ltd. 400 16,595 # Geo Holdings Corp. 900 8,390 Glory, Ltd. 1,500 37,195 Godo Steel, Ltd. 8,000 14,707 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- JAPAN -- (Continued) Goldcrest Co., Ltd. 1,060 $ 28,359 GS Yuasa Corp. 5,000 30,032 #* GungHo Online Entertainment, Inc. 27 17,038 Gunma Bank, Ltd. (The) 4,000 23,145 Gunze, Ltd. 7,000 18,695 H2O Retailing Corp. 3,000 25,493 Hachijuni Bank, Ltd. (The) 15,000 92,664 Hakuhodo DY Holdings, Inc. 6,200 47,952 Hamamatsu Photonics KK 200 7,484 Hankyu Hanshin Holdings, Inc. 13,000 72,915 Hanwa Co., Ltd. 12,000 55,832 * Haseko Corp. 6,800 50,402 Heiwa Corp. 500 8,383 Heiwa Real Estate Co., Ltd. 2,100 38,037 Heiwado Co., Ltd. 700 10,917 HI-LEX Corp. 100 2,155 Hibiya Engineering, Ltd. 800 9,732 Hino Motors, Ltd. 2,000 28,259 Hitachi Chemical Co., Ltd. 3,300 50,628 Hitachi Construction Machinery Co., Ltd. 3,200 67,771 Hitachi High-Technologies Corp. 2,100 48,300 Hitachi Koki Co., Ltd. 3,900 28,588 Hitachi Kokusai Electric, Inc. 2,000 26,869 # Hitachi Metals, Ltd. 4,110 55,344 Hitachi Transport System, Ltd. 1,100 17,443 Hitachi Zosen Corp. 4,500 35,781 Hitachi, Ltd. 15,000 104,927 Hitachi, Ltd. ADR 3,100 216,132 Hogy Medical Co., Ltd. 300 17,456 * Hokkaido Electric Power Co., Inc. 4,900 63,122 Hokuetsu Bank, Ltd. (The) 16,000 33,183 # Hokuetsu Kishu Paper Co., Ltd. 4,500 20,967 Hokuhoku Financial Group, Inc. 11,000 22,681 Hokuriku Electric Power Co. 6,200 88,309 Hokuto Corp. 700 13,429 Honda Motor Co., Ltd. 14,100 563,054 Honda Motor Co., Ltd. Sponsored ADR 8,100 323,676 Horiba, Ltd. 1,300 47,503 Hoshizaki Electric Co., Ltd. 600 21,987 Hosiden Corp. 5,900 32,248 House Foods Group, Inc. 2,300 36,431 Hoya Corp. 1,400 33,571 Hyakugo Bank, Ltd. (The) 6,000 24,398 Ibiden Co., Ltd. 2,800 48,539 # Ichigo Group Holdings Co., Ltd. 2,000 8,295 Idemitsu Kosan Co., Ltd. 700 58,599 IHI Corp. 20,000 84,686 Iino Kaiun Kaisha, Ltd. 6,200 40,831 # Imperial Hotel, Ltd. 400 9,798 Inaba Denki Sangyo Co., Ltd. 800 24,082 Inaba Seisakusho Co., Ltd. 600 7,796 Inabata & Co., Ltd. 1,200 11,769 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- JAPAN -- (Continued) Inageya Co., Ltd. 2,000 $ 20,651 Ines Corp. 500 3,312 Inpex Corp. 16,000 184,831 Iseki & Co., Ltd. 6,000 19,508 Isetan Mitsukoshi Holdings, Ltd. 6,840 103,662 Isuzu Motors, Ltd. 12,000 74,731 # Ito En, Ltd. 600 13,485 ITOCHU Corp. 13,400 161,123 # Itochu Techno-Solutions Corp. 700 27,461 Itoham Foods, Inc. 9,000 37,938 Iwatani Corp. 9,000 41,450 Izumi Co., Ltd. 700 22,767 Izumiya Co., Ltd. 4,000 18,888 J Front Retailing Co., Ltd. 9,000 70,032 Japan Airport Terminal Co., Ltd. 700 16,973 Japan Aviation Electronics Industry, Ltd. 2,000 20,135 Japan Exchange Group, Inc. 2,000 46,496 # Japan Steel Works, Ltd. (The) 14,000 78,211 Japan Tobacco, Inc. 3,200 115,788 Japan Wool Textile Co., Ltd. (The) 1,000 7,877 JFE Holdings, Inc. 8,200 186,424 JGC Corp. 3,000 114,791 Joshin Denki Co., Ltd. 2,000 16,285 JSR Corp. 2,800 53,334 JTEKT Corp. 6,900 88,584 Juroku Bank, Ltd. (The) 8,000 31,322 # JVC Kenwood Corp. 3,820 7,482 JX Holdings, Inc. 45,120 223,103 K's Holdings Corp. 1,419 41,666 Kadokawa Corp. 1,200 43,781 Kagoshima Bank, Ltd. (The) 2,000 13,463 Kajima Corp. 22,403 95,085 Kakaku.com, Inc. 4,000 77,365 Kaken Pharmaceutical Co., Ltd. 1,000 15,617 Kamei Corp. 2,000 14,892 Kanamoto Co., Ltd. 2,000 54,023 Kaneka Corp. 12,000 76,146 Kanematsu Corp. 16,000 21,703 * Kansai Electric Power Co., Inc. (The) 13,300 168,338 # Kansai Paint Co., Ltd. 7,000 94,058 Kao Corp. 4,800 159,857 Katakura Industries Co., Ltd. 1,200 14,237 Kato Sangyo Co., Ltd. 900 18,475 # Kawasaki Heavy Industries, Ltd. 30,000 117,226 Kawasaki Kisen Kaisha, Ltd. 38,000 87,112 KDDI Corp. 7,200 389,927 Keihin Corp. 600 9,803 Kewpie Corp. 3,500 52,661 Kikkoman Corp. 4,000 72,902 Kinden Corp. 2,000 21,966 Kintetsu Corp. 20,000 73,603 Kintetsu World Express, Inc. 800 30,534 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- JAPAN -- (Continued) Kirin Holdings Co., Ltd. 10,000 $146,155 Kitz Corp. 7,500 32,318 * Kiyo Bank Ltd (The) 1,000 13,292 Koa Corp. 900 8,462 Kobayashi Pharmaceutical Co., Ltd. 600 33,595 * Kobe Steel, Ltd. 81,000 143,076 # Kohnan Shoji Co., Ltd. 1,900 19,986 Koito Manufacturing Co., Ltd. 1,000 18,204 Kokuyo Co., Ltd. 4,400 33,672 # Komatsu, Ltd. 11,700 256,702 Konica Minolta, Inc. 14,000 115,933 Konishi Co., Ltd. 300 6,046 Kose Corp. 1,300 37,992 Kubota Corp. 8,000 118,453 Kubota Corp. Sponsored ADR 1,000 73,990 Kurabo Industries, Ltd. 13,000 22,674 Kuraray Co., Ltd. 6,300 73,970 Kureha Corp. 10,000 38,565 Kurimoto, Ltd. 8,000 22,800 # Kurita Water Industries, Ltd. 4,700 102,573 Kuroda Electric Co., Ltd. 1,800 25,214 KYB Co., Ltd. 3,000 17,371 Kyocera Corp. 2,400 124,633 Kyocera Corp. Sponsored ADR 2,000 105,900 Kyokuto Kaihatsu Kogyo Co., Ltd. 2,700 33,760 Kyokuyo Co., Ltd. 2,000 5,454 KYORIN Holdings, Inc. 2,000 42,636 Kyowa Exeo Corp. 2,000 23,749 Kyowa Hakko Kirin Co., Ltd. 8,000 88,360 * Kyushu Electric Power Co., Inc. 6,600 92,927 Lawson, Inc. 500 40,097 LEC, Inc. 400 5,096 # Life Corp. 1,400 23,291 Lintec Corp. 1,100 22,815 Lion Corp. 5,000 30,008 LIXIL Group Corp. 6,200 145,531 M3, Inc. 24 65,726 Maeda Corp. 7,000 50,364 Maeda Road Construction Co., Ltd. 1,000 17,781 Makino Milling Machine Co., Ltd. 7,000 45,835 Makita Corp. 1,200 60,683 Mandom Corp. 1,000 34,331 Mars Engineering Corp. 300 5,736 # Marubeni Corp. 14,000 109,612 Marubun Corp. 800 3,687 Marudai Food Co., Ltd. 1,000 3,145 Maruha Nichiro Holdings, Inc. 13,000 24,931 Marui Group Co., Ltd. 4,600 44,034 Marusan Securities Co., Ltd. 3,900 32,144 Max Co., Ltd. 2,000 22,479 * Mazda Motor Corp. 95,000 427,643 Medipal Holdings Corp. 4,500 60,678 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- JAPAN -- (Continued) # Megmilk Snow Brand Co., Ltd. 2,100 $ 29,822 Meidensha Corp. 4,000 14,960 MEIJI Holdings Co., Ltd. 300 16,770 Meitec Corp. 300 7,997 Michinoku Bank, Ltd. (The) 3,000 6,236 Minato Bank, Ltd. (The) 8,000 13,951 Minebea Co., Ltd. 10,000 55,360 Miraca Holdings, Inc. 600 27,035 # MISUMI Group, Inc. 600 17,565 Mitsuba Corp. 2,000 29,849 Mitsubishi Chemical Holdings Corp. 44,500 208,315 Mitsubishi Corp. 12,780 258,553 Mitsubishi Electric Corp. 26,000 285,791 Mitsubishi Estate Co., Ltd. 13,000 371,535 Mitsubishi Gas Chemical Co., Inc. 14,369 117,432 Mitsubishi Heavy Industries, Ltd. 40,000 254,211 Mitsubishi Logistics Corp. 3,000 41,691 Mitsubishi Materials Corp. 30,000 117,372 #* Mitsubishi Motors Corp. 5,800 65,175 * Mitsubishi Paper Mills, Ltd. 11,000 9,975 Mitsubishi Pencil Co., Ltd. 600 15,658 Mitsubishi Steel Manufacturing Co., Ltd. 3,000 8,515 Mitsubishi Tanabe Pharma Corp. 6,200 87,443 Mitsubishi UFJ Financial Group, Inc. 116,200 739,992 # Mitsubishi UFJ Financial Group, Inc. ADR 25,043 160,275 Mitsuboshi Belting Co., Ltd. 4,000 20,620 Mitsui & Co., Ltd. 11,800 168,574 Mitsui & Co., Ltd. Sponsored ADR 473 135,278 # Mitsui Chemicals, Inc. 50,000 132,915 Mitsui Engineering & Shipbuilding Co., Ltd. 21,000 41,223 Mitsui Fudosan Co., Ltd. 7,000 231,881 Mitsui Home Co., Ltd. 3,000 15,114 Mitsui Mining & Smelting Co., Ltd. 14,000 35,689 Mitsui OSK Lines, Ltd. 26,000 110,054 Mitsui-Soko Co., Ltd. 2,000 10,048 * Mitsumi Electric Co., Ltd. 2,400 16,184 Miura Co., Ltd. 1,700 44,591 Miyazaki Bank, Ltd. (The) 7,000 20,316 Mizuho Financial Group, Inc. 221,040 463,977 # Mizuho Financial Group, Inc. ADR 11,600 48,720 # Mizuno Corp. 6,000 33,882 Mochida Pharmaceutical Co., Ltd. 400 25,318 Modec, Inc. 400 12,128 Morinaga & Co., Ltd. 11,000 23,407 # Morinaga Milk Industry Co., Ltd. 14,000 43,653 Morita Holdings Corp. 3,000 26,389 Mory Industries, Inc. 2,000 8,422 MOS Food Services, Inc. 700 13,572 Moshi Moshi Hotline, Inc. 2,100 26,396 MS&AD Insurance Group Holdings 6,752 174,589 Murata Manufacturing Co., Ltd. 1,700 136,459 # Musashi Seimitsu Industry Co., Ltd. 300 7,079 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- JAPAN -- (Continued) Nabtesco Corp. 1,000 $ 24,408 Nachi-Fujikoshi Corp. 9,000 44,187 Nagase & Co., Ltd. 2,000 24,913 Nakamuraya Co., Ltd. 1,000 4,124 Namco Bandai Holdings, Inc. 4,300 81,057 Namura Shipbuilding Co., Ltd. 3,400 49,233 Nankai Electric Railway Co., Ltd. 19,000 70,976 Nanto Bank, Ltd. (The) 3,000 11,878 Natori Co., Ltd. 500 4,915 NEC Corp. 79,000 177,448 NEC Networks & System Integration Corp. 1,600 40,287 # NET One Systems Co., Ltd. 3,200 22,323 # NGK Insulators, Ltd. 6,000 100,920 NGK Spark Plug Co., Ltd. 5,000 114,190 NHK Spring Co., Ltd. 3,000 31,403 Nichia Steel Works, Ltd. 1,000 3,658 # Nichias Corp. 4,000 27,062 Nichicon Corp. 1,300 13,615 Nichiha Corp. 2,000 28,701 Nichii Gakkan Co. 3,100 31,070 Nichirei Corp. 7,000 36,132 # Nidec Corp. 400 38,981 Nidec Corp. ADR 2,800 68,264 # Nifco, Inc. 1,200 31,978 Nihon Kohden Corp. 700 28,831 Nihon Nohyaku Co., Ltd. 4,000 47,945 Nihon Parkerizing Co., Ltd. 1,000 19,535 Nihon Yamamura Glass Co., Ltd. 3,000 5,527 Nikkiso Co., Ltd. 3,000 37,114 Nikon Corp. 6,400 118,312 Nippo Corp. 3,000 56,283 * Nippon Chemi-Con Corp. 6,000 27,115 Nippon Coke & Engineering Co., Ltd. 3,500 4,435 Nippon Denko Co., Ltd. 2,000 5,825 Nippon Densetsu Kogyo Co., Ltd. 2,000 25,000 # Nippon Electric Glass Co., Ltd. 15,000 77,156 Nippon Flour Mills Co., Ltd. 2,000 9,648 Nippon Gas Co., Ltd. 900 10,064 Nippon Kayaku Co., Ltd. 4,000 56,080 Nippon Konpo Unyu Soko Co., Ltd. 1,000 17,432 Nippon Light Metal Holdings Co., Ltd. 33,000 47,249 Nippon Meat Packers, Inc. 5,000 73,206 Nippon Paint Co., Ltd. 6,000 100,918 # Nippon Paper Industries Co., Ltd. 4,900 78,077 Nippon Road Co., Ltd. (The) 5,000 31,140 Nippon Seiki Co., Ltd. 1,000 16,304 * Nippon Sheet Glass Co., Ltd. 27,800 36,055 Nippon Shinyaku Co., Ltd. 1,000 17,238 Nippon Shokubai Co., Ltd. 5,000 61,337 Nippon Signal Co., Ltd. 2,700 20,534 Nippon Soda Co., Ltd. 8,000 49,011 Nippon Steel & Sumitomo Metal Corp. 146,800 484,521 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- JAPAN -- (Continued) * Nippon Suisan Kaisha, Ltd. 5,100 $ 10,402 Nippon Synthetic Chemical Industry Co., Ltd. (The) 4,000 38,565 Nippon Telegraph & Telephone Corp. 1,700 88,367 Nippon Telegraph & Telephone Corp. ADR 6,000 156,600 Nippon Television Holdings, Inc. 1,800 32,974 Nippon Thompson Co., Ltd. 3,000 16,328 Nippon Valqua Industries, Ltd. 3,000 8,405 #* Nippon Yakin Kogyo Co., Ltd. 2,000 6,627 # Nippon Yusen KK 32,405 99,013 Nishimatsu Construction Co., Ltd. 13,000 45,895 Nishimatsuya Chain Co., Ltd. 2,600 19,277 Nissan Chemical Industries, Ltd. 5,700 89,609 Nissan Motor Co., Ltd. 26,700 268,102 Nissan Shatai Co., Ltd. 4,000 68,964 # Nisshin Oillio Group, Ltd. (The) 2,000 6,720 # Nisshin Seifun Group, Inc. 8,800 95,404 Nisshin Steel Holdings Co., Ltd. 3,700 49,336 Nisshinbo Holdings, Inc. 5,000 44,161 Nissin Foods Holdings Co., Ltd. 900 38,524 Nissin Kogyo Co., Ltd. 700 13,094 Nitta Corp. 800 16,850 Nitto Boseki Co., Ltd. 8,000 37,196 # Nitto Denko Corp. 2,400 125,858 Nitto Kogyo Corp. 700 11,067 NKSJ Holdings, Inc. 1,500 38,828 NOF Corp. 2,000 13,907 NOK Corp. 3,200 49,467 Nomura Holdings, Inc. 26,400 195,018 Nomura Holdings, Inc. ADR 14,000 103,040 Nomura Real Estate Holdings, Inc. 900 22,771 # Nomura Research Institute, Ltd. 1,200 40,275 Noritake Co., Ltd/Nagoya 10,000 27,191 Noritz Corp. 500 11,590 North Pacific Bank, Ltd. 8,000 34,931 NSD Co., Ltd. 2,400 29,353 NSK, Ltd. 9,000 96,141 * NTN Corp. 14,000 67,296 # NTT Data Corp. 2,500 83,112 NTT DOCOMO, Inc. 15,700 249,081 NTT DOCOMO, Inc. Sponsored ADR 4,886 77,541 Obayashi Corp. 15,000 96,107 * Ohara, Inc. 300 1,866 # Oiles Corp. 1,500 33,514 Oita Bank, Ltd. (The) 2,000 7,336 Oji Holdings Corp. 23,000 105,111 Okamura Corp. 3,000 21,681 Okinawa Electric Power Co., Inc. (The) 500 17,374 OKUMA Corp. 2,000 16,895 Okumura Corp. 7,000 33,237 Okura Industrial Co., Ltd. 2,000 7,085 * Olympus Corp. 2,500 79,978 Omron Corp. 3,500 133,564 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- JAPAN -- (Continued) # Onward Holdings Co., Ltd. 4,000 $ 33,107 Osaka Gas Co., Ltd. 30,000 126,362 # OSAKA Titanium Technologies Co. 1,700 37,101 # Osaki Electric Co., Ltd. 1,000 6,593 OSG Corp. 1,100 17,794 Otsuka Corp. 300 38,911 # Pacific Metals Co., Ltd. 7,000 25,651 PanaHome Corp. 5,000 33,825 Panasonic Corp. 16,500 169,114 Panasonic Corp. Sponsored ADR 24,160 251,747 Panasonic Information Systems 300 7,947 # Parco Co., Ltd. 200 2,056 Paris Miki Holdings, Inc. 2,800 13,084 # Park24 Co., Ltd. 1,700 33,192 Penta-Ocean Construction Co., Ltd. 9,500 28,723 # Pigeon Corp. 1,400 72,230 Piolax, Inc. 500 17,237 #* Pioneer Corp. 8,000 14,726 Pola Orbis Holdings, Inc. 600 20,329 Press Kogyo Co., Ltd. 6,000 26,320 Pronexus, Inc. 600 3,898 Rakuten, Inc. 5,300 69,057 Rengo Co., Ltd. 7,000 37,439 Resona Holdings, Inc. 22,200 115,478 Resorttrust, Inc. 1,100 41,902 Ricoh Co., Ltd. 21,000 221,777 Ricoh Leasing Co., Ltd. 600 17,180 Riken Corp. 5,000 21,882 # Rinnai Corp. 800 61,920 Riso Kagaku Corp. 1,400 31,187 Rohm Co., Ltd. 2,200 90,305 Rohto Pharmaceutical Co., Ltd. 3,000 43,537 Round One Corp. 2,400 12,733 # Royal Holdings Co., Ltd. 1,800 28,877 Ryobi, Ltd. 9,000 39,776 Ryohin Keikaku Co., Ltd. 725 72,323 Ryosan Co., Ltd. 1,400 27,107 Saibu Gas Co., Ltd. 5,000 12,431 Saizeriya Co., Ltd. 1,800 22,250 Sakata Seed Corp. 1,800 24,569 San-A Co., Ltd. 1,400 39,900 Sangetsu Co., Ltd. 1,000 26,541 Sanki Engineering Co., Ltd. 3,000 18,731 Sankyo Co., Ltd. 400 19,024 Sankyu, Inc. 8,000 28,636 # Sanrio Co., Ltd. 300 16,486 Santen Pharmaceutical Co., Ltd. 800 40,613 Sanyo Chemical Industries, Ltd. 2,000 13,764 Sanyo Shokai, Ltd. 9,000 24,835 Sanyo Special Steel Co., Ltd. 3,000 16,178 Sapporo Holdings, Ltd. 15,000 66,700 # Sawai Pharmaceutical Co., Ltd. 1,000 73,103 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- JAPAN -- (Continued) SCSK Corp. 1,743 $ 44,185 Secom Co., Ltd. 2,000 120,485 Sega Sammy Holdings, Inc. 1,800 46,144 Seikagaku Corp. 1,400 18,163 Seiko Epson Corp. 6,300 102,839 Seiko Holdings Corp. 7,000 31,508 Seino Holdings Co., Ltd. 2,000 19,752 Seiren Co., Ltd. 1,800 11,487 Sekisui Chemical Co., Ltd. 11,000 127,803 Sekisui House, Ltd. 20,000 287,077 Sekisui Jushi Corp. 2,000 29,119 Sekisui Plastics Co., Ltd. 5,000 14,137 Senko Co., Ltd. 2,320 12,512 Senshukai Co., Ltd. 1,600 13,852 Seven & I Holdings Co., Ltd. 7,400 273,864 #* Sharp Corp. 36,000 106,492 Shiga Bank, Ltd. (The) 8,000 43,723 Shikoku Bank, Ltd. (The) 6,000 13,897 * Shikoku Electric Power Co., Inc. 5,600 99,955 Shima Seiki Manufacturing, Ltd. 300 6,155 Shimachu Co., Ltd. 700 16,999 Shimadzu Corp. 7,000 68,547 Shimano, Inc. 300 26,257 Shimizu Corp. 31,000 158,981 Shin-Etsu Chemical Co., Ltd. 4,400 248,785 Shindengen Electric Manufacturing Co., Ltd. 1,000 6,435 Shinko Electric Industries Co., Ltd. 1,300 11,589 Shinmaywa Industries, Ltd. 4,000 31,340 Shionogi & Co., Ltd. 4,600 101,791 Ship Healthcare Holdings, Inc. 500 20,517 Shiroki Corp. 5,000 11,215 Shiseido Co., Ltd. 5,900 100,931 Shizuoka Bank, Ltd. (The) 8,000 90,011 Shizuoka Gas Co., Ltd. 3,000 19,867 Showa Corp. 1,800 24,983 # Showa Denko KK 63,000 85,425 Showa Shell Sekiyu KK 9,600 103,208 Sinanen Co., Ltd. 4,000 15,602 Sintokogio, Ltd. 4,000 30,099 SKY Perfect JSAT Holdings, Inc. 2,700 15,591 Softbank Corp. 7,684 573,863 Sohgo Security Services Co., Ltd. 800 16,172 Sojitz Corp. 38,600 74,953 Sony Corp. 5,100 88,968 Sony Corp. Sponsored ADR 14,427 248,866 Space Co., Ltd. 200 1,863 SRA Holdings 600 6,711 Stanley Electric Co., Ltd. 1,900 44,196 Star Micronics Co., Ltd. 700 7,533 Start Today Co., Ltd. 1,400 39,032 Starzen Co., Ltd. 3,000 8,301 Sugi Holdings Co., Ltd. 1,200 50,189 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- JAPAN -- (Continued) Sumco Corp. 3,000 $ 27,260 Suminoe Textile Co., Ltd. 5,000 14,800 Sumitomo Bakelite Co., Ltd. 9,000 32,453 # Sumitomo Chemical Co., Ltd. 50,231 183,965 Sumitomo Corp. 8,600 111,914 Sumitomo Electric Industries, Ltd. 14,900 223,267 Sumitomo Forestry Co., Ltd. 7,200 83,764 Sumitomo Heavy Industries, Ltd. 23,000 101,797 Sumitomo Metal Mining Co., Ltd. 16,000 221,609 Sumitomo Mitsui Financial Group, Inc. 11,900 575,197 # Sumitomo Mitsui Trust Holdings, Inc. 27,000 133,355 Sumitomo Osaka Cement Co., Ltd. 11,000 44,383 Sumitomo Realty & Development Co., Ltd. 2,000 94,633 Sumitomo Rubber Industries, Ltd. 2,400 33,412 Sumitomo Warehouse Co., Ltd. (The) 3,000 17,595 Suzuken Co. Ltd/Aichi Japan 2,100 75,830 Suzuki Motor Corp. 4,900 123,212 # Sysmex Corp. 1,400 92,740 T&D Holdings, Inc. 8,300 99,648 Tachi-S Co., Ltd. 400 6,384 Tadano, Ltd. 1,000 13,751 # Taiheiyo Cement Corp. 24,000 101,789 Taikisha, Ltd. 1,200 27,894 Taisei Corp. 43,000 220,602 # Taiyo Nippon Sanso Corp. 9,000 61,716 # Taiyo Yuden Co., Ltd. 2,900 37,172 Takamatsu Construction Group Co., Ltd. 700 13,105 Takara Holdings, Inc. 4,000 36,681 Takara Standard Co., Ltd. 5,000 40,229 Takasago International Corp. 2,000 11,119 Takasago Thermal Engineering Co., Ltd. 3,000 25,072 Takashimaya Co., Ltd. 8,000 76,328 Takata Corp. 1,000 25,222 Takeda Pharmaceutical Co., Ltd. 10,600 505,138 Tayca Corp. 3,000 9,108 TDK Corp. 2,000 85,000 TDK Corp. Sponsored ADR 1,200 50,880 # Teijin, Ltd. 43,000 96,555 Terumo Corp. 1,700 82,332 # THK Co., Ltd. 3,800 82,948 TKC Corp. 400 6,642 * Toa Corp. 13,000 31,592 Toagosei Co., Ltd. 7,000 31,743 TOC Co., Ltd. 2,800 22,747 Tochigi Bank, Ltd. (The) 5,000 19,120 Toda Corp. 3,000 10,967 Toei Co., Ltd. 5,000 30,072 Toho Bank, Ltd. (The) 3,000 9,418 Toho Co. Ltd/Kobe 1,000 3,612 Toho Holdings Co., Ltd. 2,900 56,145 Toho Zinc Co., Ltd. 5,000 15,069 * Tohoku Electric Power Co., Inc. 5,100 61,731 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ ---------- JAPAN -- (Continued) Tokai Carbon Co., Ltd. 8,000 $ 27,504 Tokai Rika Co., Ltd. 1,800 38,169 Tokai Tokyo Financial Holdings, Inc. 7,000 58,715 Token Corp. 120 6,374 Tokio Marine Holdings, Inc. 8,300 272,111 Tokushu Tokai Paper Co., Ltd. 4,000 8,227 Tokuyama Corp. 8,000 30,944 Tokyo Broadcasting System Holdings, Inc. 1,600 21,082 Tokyo Dome Corp. 2,000 13,754 * Tokyo Electric Power Co., Inc. 5,300 28,286 Tokyo Electron, Ltd. 3,400 186,567 Tokyo Energy & Systems, Inc. 2,000 10,642 Tokyo Gas Co., Ltd. 28,000 151,929 Tokyo Seimitsu Co., Ltd. 700 13,366 #* Tokyo Steel Manufacturing Co., Ltd. 400 2,149 Tokyo Tatemono Co., Ltd. 16,000 150,208 Tokyo Tomin Bank, Ltd. (The) 500 5,358 * Tokyu Fudosan Holdings Corp. 14,000 137,537 TOMONY Holdings, Inc. 1,800 6,800 Tomy Co., Ltd. 800 4,123 Tonami Holdings Co., Ltd. 3,000 6,547 TonenGeneral Sekiyu KK 6,000 55,737 Toppan Forms Co., Ltd. 1,300 12,125 Toppan Printing Co., Ltd. 16,000 126,374 Topre Corp. 300 4,209 Topy Industries, Ltd. 8,000 17,535 # Toray Industries, Inc. 18,000 112,477 Toshiba Corp. 52,000 221,014 Toshiba Machine Co., Ltd. 8,000 41,375 Toshiba Plant Systems & Services Corp. 2,000 35,289 Toshiba TEC Corp. 2,000 12,318 Tosoh Corp. 23,000 88,013 Totetsu Kogyo Co., Ltd. 1,300 29,279 TOTO, Ltd. 8,000 113,138 Towa Pharmaceutical Co., Ltd. 200 10,007 Toyo Ink SC Holdings Co., Ltd. 3,000 15,294 Toyo Seikan Group Holdings, Ltd. 6,600 137,167 Toyo Tire & Rubber Co., Ltd. 12,000 70,115 Toyobo Co., Ltd. 23,000 44,198 Toyoda Gosei Co., Ltd. 1,700 42,508 Toyota Boshoku Corp. 1,900 25,449 Toyota Motor Corp. 2,455 159,178 Toyota Motor Corp. Sponsored ADR 11,495 1,487,683 Toyota Tsusho Corp. 2,800 77,776 Trusco Nakayama Corp. 400 8,516 TS Tech Co., Ltd. 900 33,719 TSI Holdings Co., Ltd. 660 4,665 Tsubakimoto Chain Co. 2,000 13,250 # Tsugami Corp. 1,000 5,026 Tsukuba Bank, Ltd. (The) 5,900 20,632 Tsumura & Co. 1,500 47,145 Tsuruha Holdings, Inc. 600 54,473 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ ----------- JAPAN -- (Continued) # U-Shin, Ltd. 1,600 $ 11,902 Ube Industries, Ltd. 49,000 101,425 * Ulvac, Inc. 4,200 42,950 Unicharm Corp. 1,800 115,612 Unipres Corp. 1,300 26,232 # Universal Entertainment Corp. 500 9,957 UNY Group Holdings Co., Ltd. 6,200 39,124 Ushio, Inc. 2,700 34,103 Valor Co., Ltd. 1,200 17,320 Vital KSK Holdings, Inc. 1,000 7,014 Wacoal Holdings Corp. 3,000 32,214 West Japan Railway Co. 1,700 76,228 Xebio Co., Ltd. 1,700 36,760 Yachiyo Bank, Ltd. (The) 400 10,912 Yahoo Japan Corp. 10,000 46,657 Yaizu Suisankagaku Industry Co., Ltd. 200 1,770 Yakult Honsha Co., Ltd. 1,300 66,032 # Yamada Denki Co., Ltd. 22,000 61,710 Yamagata Bank, Ltd. (The) 2,000 8,328 Yamaha Corp. 8,500 126,909 Yamaha Motor Co., Ltd. 5,200 79,656 Yamanashi Chuo Bank, Ltd. (The) 2,000 8,444 Yamato Holdings Co., Ltd. 3,000 64,518 Yamazaki Baking Co., Ltd. 2,000 20,362 # Yaskawa Electric Corp. 3,000 38,852 Yellow Hat, Ltd. 400 7,285 Yodogawa Steel Works, Ltd. 2,000 9,047 Yokogawa Electric Corp. 2,400 31,365 # Yokohama Reito Co., Ltd. 3,900 30,868 Yokohama Rubber Co., Ltd. (The) 6,000 58,689 Yondenko Corp. 2,000 7,064 Yorozu Corp. 600 11,839 # Zensho Holdings Co., Ltd. 800 9,130 Zeon Corp. 9,000 107,254 ----------- TOTAL JAPAN 45,291,496 ----------- NETHERLANDS -- (2.6%) Aalberts Industries NV 3,416 101,991 Aegon NV 17,304 137,686 Akzo Nobel NV 6,251 453,787 # APERAM 2,305 39,380 Arcadis NV 907 28,444 ArcelorMittal(B03XPL1) 12,432 195,812 # ArcelorMittal(B295F26) 1,709 26,934 ASM International NV 1,439 47,266 # ASML Holding NV(B929F46) 1,373 129,998 ASML Holding NV(B908F01) 1,642 155,399 BinckBank NV 2,442 23,494 # Brunel International NV 532 31,228 Corbion NV 3,066 71,032 Delta Lloyd NV 2,351 49,845 Fugro NV 1,775 110,974 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ ---------- NETHERLANDS -- (Continued) Gemalto NV 1,658 $ 186,093 Heijmans NV 1,353 17,947 # Heineken NV 1,465 100,949 Hunter Douglas NV 235 10,146 #* ING Groep NV Sponsored ADR 56,475 718,362 Kendrion NV 337 10,569 Koninklijke Ahold NV 22,669 430,859 # Koninklijke BAM Groep NV 7,103 37,777 Koninklijke DSM NV 4,847 366,397 * Koninklijke KPN NV 23,895 76,078 Koninklijke Philips NV(500472303) 11,642 412,243 Koninklijke Philips NV(5986622) 16,162 571,176 Koninklijke Ten Cate NV 1,115 33,854 Nutreco NV 2,038 99,629 * PostNL NV 7,305 38,171 Randstad Holding NV 3,983 245,307 Reed Elsevier NV 3,948 79,373 Reed Elsevier NV Sponsored ADR 2,642 106,340 #* Royal Imtech NV 616 1,813 * SBM Offshore NV 6,909 144,609 Sligro Food Group NV 404 15,131 Telegraaf Media Groep NV 581 7,579 TKH Group NV 1,133 36,195 TNT Express NV 3,969 36,592 #* TomTom NV 2,056 15,875 Unilever NV(B12T3J1) 4,559 180,744 Unilever NV(904784709) 3,158 125,436 Unit4 NV 614 28,887 USG People NV 1,366 18,057 Wolters Kluwer NV 4,707 127,517 ---------- TOTAL NETHERLANDS 5,882,975 ---------- NEW ZEALAND -- (0.3%) Auckland International Airport, Ltd. 31,926 90,377 Chorus, Ltd. ADR 880 9,566 Contact Energy, Ltd. 8,055 34,930 Ebos Group, Ltd. 381 3,052 Fisher & Paykel Healthcare Corp., Ltd. 13,276 40,376 Fletcher Building, Ltd.(6341606) 9,511 78,490 Fletcher Building, Ltd.(6341617) 1,711 14,048 Freightways, Ltd. 2,616 9,443 Infratil, Ltd. 20,130 41,566 Mainfreight, Ltd. 3,098 29,682 New Zealand Refining Co., Ltd. (The) 7,267 13,509 Nuplex Industries, Ltd. 5,854 16,922 Port of Tauranga, Ltd. 1,623 18,491 Ryman Healthcare, Ltd. 12,632 78,744 Sky Network Television, Ltd. 6,556 33,575 SKYCITY Entertainment Group, Ltd. 10,107 32,459 TrustPower, Ltd. 3,375 19,236 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- NEW ZEALAND -- (Continued) * Xero, Ltd. 710 $ 16,413 -------- TOTAL NEW ZEALAND 580,879 -------- NORWAY -- (0.9%) Aker ASA Class A 951 29,960 Aker Solutions ASA 1,944 26,857 * Algeta ASA 483 19,140 * Archer, Ltd. 1,949 1,772 Atea ASA 2,131 23,613 Austevoll Seafood ASA 5,066 31,454 BW Offshore, Ltd. 4,454 6,096 Cermaq ASA 800 14,178 #* Det Norske Oljeselskap ASA 2,204 31,363 DNB ASA 14,525 257,478 * DNO International ASA 28,000 79,126 * DOF ASA 1,800 8,441 Ekornes ASA 454 7,385 Farstad Shipping ASA 124 2,816 Fred Olsen Energy ASA 869 36,519 Ganger Rolf ASA 240 5,387 Gjensidige Forsikring ASA 1,966 36,696 Golar LNG, Ltd. 568 21,706 # Kongsberg Gruppen A.S. 1,943 40,494 # Kvaerner ASA 5,584 9,097 Leroey Seafood Group ASA 940 29,048 Marine Harvest ASA 67,192 78,775 #* Nordic Semiconductor ASA 8,606 36,470 # Norsk Hydro ASA 4,999 22,309 #* Norske Skogindustrier ASA 2,500 1,365 #* Norwegian Air Shuttle A.S. 1,098 45,077 # Opera Software ASA 2,172 26,289 Orkla ASA 7,289 59,086 Petroleum Geo-Services ASA 3,107 37,682 Prosafe SE 4,546 38,963 * REC Silicon ASA 16,433 8,183 Schibsted ASA 1,096 66,979 Seadrill, Ltd. 2,157 99,770 * Songa Offshore 2,969 2,799 SpareBank 1 SMN 2,099 17,689 SpareBank 1 SR Bank ASA 368 3,307 Statoil ASA 6,394 151,290 Statoil ASA Sponsored ADR 5,319 125,688 Stolt-Nielsen, Ltd. 122 3,454 * Storebrand ASA 14,674 94,889 Subsea 7 SA 2,947 62,322 Telenor ASA 4,598 110,479 TGS Nopec Geophysical Co. ASA 865 23,791 Tomra Systems ASA 1,800 16,480 Veidekke ASA 1,400 11,402 Wilh Wilhelmsen ASA 25 232 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- NORWAY -- (Continued) # Yara International ASA 3,434 $ 147,893 ---------- TOTAL NORWAY 2,011,289 ---------- PORTUGAL -- (0.3%) * Banco Comercial Portugues SA 105,752 15,770 * Banco Espirito Santo SA 18,689 24,557 Cimpor Cimentos de Portugal SGPS SA 4,383 16,040 EDP--Energias de Portugal SA 35,755 131,615 * EDP Renovaveis SA 6,176 33,953 Galp Energia SGPS SA 3,295 55,796 Jeronimo Martins SGPS SA 1,895 34,899 Portucel SA 11,580 44,557 # Portugal Telecom SGPS SA 23,776 107,170 Portugal Telecom SGPS SA Sponsored ADR 2,200 9,878 REN--Redes Energeticas Nacionais SGPS SA 5,988 17,967 Semapa-Sociedade de Investimento e Gestao 1,346 13,227 Sonae 30,547 44,121 Sonaecom--SGPS SA 1,724 5,590 # ZON OPTIMUS SGPS SA 10,000 68,592 ---------- TOTAL PORTUGAL 623,732 ---------- SINGAPORE -- (0.9%) Banyan Tree Holdings, Ltd. 47,000 25,563 Biosensors International Group, Ltd. 28,000 21,171 Bukit Sembawang Estates, Ltd. 2,000 9,896 Bund Center Investment, Ltd. 21,000 3,455 CapitaLand, Ltd. 59,000 147,824 Chip Eng Seng Corp., Ltd. 45,000 25,508 City Developments, Ltd. 15,000 124,159 ComfortDelGro Corp., Ltd. 17,000 26,251 Cosco Corp. Singapore, Ltd. 21,000 13,238 DBS Group Holdings, Ltd. 4,000 53,926 * Ezra Holdings, Ltd. 23,000 24,788 First Resources, Ltd. 17,000 26,672 GMG Global, Ltd. 304,000 24,711 Great Eastern Holdings, Ltd. 2,000 29,142 GuocoLand, Ltd. 17,666 31,985 GuocoLeisure, Ltd. 43,000 28,524 Ho Bee Land, Ltd. 17,000 28,146 Hongkong Land Holdings, Ltd. 6,000 36,901 Hutchison Port Holdings Trust 83,000 60,573 Indofood Agri Resources, Ltd. 18,000 13,177 Jardine Cycle & Carriage, Ltd. 1,000 29,471 K-Green Trust 800 660 K1 Ventures, Ltd. 21,000 3,081 Keppel Corp., Ltd. 12,400 108,206 Keppel Land, Ltd. 36,000 107,325 Keppel Telecommunications & Transportation, Ltd. 3,000 3,763 Midas Holdings, Ltd. 71,000 28,508 Noble Group, Ltd. 24,000 19,829 NSL, Ltd. 2,000 2,303 # Olam International, Ltd. 44,000 54,435 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- SINGAPORE -- (Continued) # OUE, Ltd. 13,000 $ 25,305 Oversea-Chinese Banking Corp., Ltd. 4,000 33,462 Petra Foods, Ltd. 4,000 11,438 * Raffles Education Corp., Ltd. 5,310 1,282 SATS, Ltd. 19,460 53,240 SembCorp Industries, Ltd. 10,000 42,754 # SembCorp Marine, Ltd. 7,000 25,323 Sinarmas Land, Ltd. 66,000 29,158 Singapore Airlines, Ltd. 2,000 16,777 Singapore Land, Ltd. 6,000 41,887 # Singapore Press Holdings, Ltd. 7,000 23,945 Singapore Technologies Engineering, Ltd. 18,000 61,034 Singapore Telecommunications, Ltd. 57,000 173,096 Stamford Land Corp., Ltd. 32,000 14,669 StarHub, Ltd. 8,000 28,606 Super Group, Ltd. 9,000 30,431 # Tat Hong Holdings, Ltd. 24,000 18,032 * Triyards holdings, Ltd. 2,300 1,256 United Engineers, Ltd. 6,000 8,935 United Industrial Corp., Ltd. 40,000 98,784 United Overseas Bank, Ltd. 3,000 50,240 UOB-Kay Hian Holdings, Ltd. 11,000 14,715 UOL Group, Ltd. 14,000 74,100 * Vard Holdings, Ltd. 23,000 16,254 Venture Corp., Ltd. 8,000 50,099 Wheelock Properties Singapore, Ltd. 15,000 20,527 Wilmar International, Ltd. 5,000 13,908 Wing Tai Holdings, Ltd. 13,510 23,987 Yongnam Holdings, Ltd. 113,000 21,837 ---------- TOTAL SINGAPORE 2,138,272 ---------- SPAIN -- (2.5%) Abengoa SA 1,749 5,406 Abengoa SA Class B 6,996 16,941 Abertis Infraestructuras SA 4,948 106,011 Acciona SA 733 46,466 # Acerinox SA 4,201 55,376 ACS Actividades de Construccion y Servicios SA 3,734 122,478 Almirall SA 492 7,352 Atresmedia Corporacion de Medi 2,220 37,089 Banco Bilbao Vizcaya Argentaria SA 35,707 417,307 # Banco Bilbao Vizcaya Argentaria SA Sponsored ADR 26,417 308,554 Banco de Sabadell SA 72,230 185,074 * Banco Popular Espanol SA 26,631 151,062 Banco Santander SA 81,299 720,737 Banco Santander SA Sponsored ADR 38,725 345,040 Bankinter SA 12,462 75,982 * Baron de Ley 128 10,849 Bolsas y Mercados Espanoles SA 993 37,129 CaixaBank 15,723 81,497 * Caja de Ahorros del Mediterraneo 233 -- * Cementos Portland Valderrivas SA 155 1,432 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ ---------- SPAIN -- (Continued) Construcciones y Auxiliar de Ferrocarriles SA 25 $ 12,981 * Deoleo SA 5,017 2,857 Distribuidora Internacional de Alimentacion SA 7,854 71,605 Ebro Foods SA 1,132 25,535 Enagas SA 1,766 47,152 Ence Energia y Celulosa SA 10,765 43,232 Faes Farma SA 1,397 5,019 Ferrovial SA 7,855 149,730 * Fomento de Construcciones y Contratas SA 737 16,958 * Gamesa Corp. Tecnologica SA 2,153 20,792 # Gas Natural SDG SA 5,590 131,847 Grifols SA 1,691 69,308 Grupo Catalana Occidente SA 732 24,765 Iberdrola SA 84,350 529,452 Inditex SA 1,817 298,422 Indra Sistemas SA 2,258 37,236 * Jazztel P.L.C. 4,109 45,005 Mapfre SA 13,120 52,686 * Mediaset Espana Comunicacion SA 3,538 43,179 Melia Hotels International SA 3,189 36,106 #* NH Hoteles SA 1,077 5,621 Obrascon Huarte Lain SA 709 29,696 * Pescanova SA 1,279 -- * Promotora de Informaciones SA Class A 4,718 2,395 Prosegur Cia de Seguridad SA 2,490 14,773 * Realia Business SA 8,376 9,073 Red Electrica Corp. SA 2,364 147,194 Repsol SA 6,975 187,001 Repsol SA Sponsored ADR 4,469 119,501 * Sacyr SA 10,782 58,027 Tecnicas Reunidas SA 572 29,442 * Telefonica SA 11,898 209,397 #* Telefonica SA Sponsored ADR 16,998 296,955 Tubacex SA 5,015 19,307 Tubos Reunidos SA 1,662 4,141 Vidrala SA 235 10,061 Viscofan SA 472 25,038 * Vocento SA 844 1,692 Zardoya Otis SA 2,040 35,486 ---------- TOTAL SPAIN 5,600,449 ---------- SWEDEN -- (3.2%) AarhusKarlshamn AB 568 33,605 AddTech AB Class B 331 15,091 AF AB Class B 1,585 50,071 Alfa Laval AB 3,800 86,681 Assa Abloy AB Class B 5,659 280,783 Atlas Copco AB Class A 7,378 204,423 Atlas Copco AB Class B 4,089 101,606 Axfood AB 232 11,998 # Axis Communications AB 2,030 70,050 B&B Tools AB Class B 1,109 15,200 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- SWEDEN -- (Continued) Beijer AB G&L Class B 522 $ 10,944 Betsson AB 655 20,578 Bilia AB Class A 992 24,023 BillerudKorsnas AB 2,884 33,833 Bjoern Borg AB 385 1,714 Boliden AB 14,454 205,290 Castellum AB 3,189 48,966 #* Cloetta AB Class B 480 1,501 Duni AB 2,923 32,911 Electrolux AB Series B 7,766 191,548 # Elekta AB Class B 6,513 96,191 #* Eniro AB 3,508 15,241 Fabege AB 2,825 32,504 Getinge AB Class B 5,318 168,475 Hennes & Mauritz AB Class B 6,695 289,303 Hexagon AB Class B 1,822 54,632 Hexpol AB 792 59,506 Holmen AB Class B 2,248 74,672 Hufvudstaden AB Class A 111 1,453 Husqvarna AB Class A 3,992 23,434 Husqvarna AB Class B 11,763 69,114 * ICA Gruppen AB 2,443 73,833 Industrial & Financial Systems Class B 1,168 26,826 Intrum Justitia AB 2,642 70,249 JM AB 2,125 60,536 Kungsleden AB 3,130 22,990 Lagercrantz AB Class B 480 8,333 * Lindab International AB 2,338 22,764 Loomis AB Class B 1,238 29,676 * Lundin Petroleum AB 5,902 121,630 Meda AB Class A 7,099 79,661 * Medivir AB Class B 1,257 16,450 # Mekonomen AB 225 7,420 * Micronic Mydata AB 11,440 22,947 Millicom International Cellular SA 555 51,202 Modern Times Group AB Class B 701 38,236 NCC AB Class B 2,063 63,456 New Wave Group AB Class B 752 4,272 Nibe Industrier AB Class B 1,196 22,931 Nobia AB 5,022 43,718 Nolato AB Class B 216 4,408 Nordea Bank AB 31,670 405,107 #* PA Resources AB 3 5 # Peab AB 6,816 40,076 * Rezidor Hotel Group AB 5,832 33,188 Saab AB Class B 1,438 28,787 Sandvik AB 8,841 119,460 * SAS AB 6,947 20,787 Scania AB Class B 5,496 110,158 Securitas AB Class B 11,505 131,191 Skandinaviska Enskilda Banken AB Class A 31,763 384,175 Skanska AB Class B 7,619 146,698 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ ---------- SWEDEN -- (Continued) SKF AB Class B 4,436 $ 117,374 # SSAB AB Class A 5,418 35,643 SSAB AB Class B 3,943 22,247 Svenska Cellulosa AB Class A 1,455 41,119 Svenska Cellulosa AB Class B 15,984 453,166 Svenska Handelsbanken AB Class A 4,084 184,705 Swedbank AB Class A 9,838 256,047 Swedish Match AB 3,885 128,100 * Swedish Orphan Biovitrum AB 3,893 37,210 Systemair AB 348 6,124 Tele2 AB Class B 388 4,677 Telefonaktiebolaget LM Ericsson Class A 2,994 33,808 Telefonaktiebolaget LM Ericsson Class B 31,501 376,790 Telefonaktiebolaget LM Ericsson Sponsored ADR 20,310 243,517 TeliaSonera AB 22,522 186,234 Trelleborg AB Class B 5,715 107,840 Unibet Group P.L.C. 1,240 49,744 Volvo AB Class A 5,553 71,355 Volvo AB Class B 15,322 196,656 Wallenstam AB Class B 1,861 25,806 Wihlborgs Fastigheter AB 2,227 38,411 ---------- TOTAL SWEDEN 7,153,084 ---------- SWITZERLAND -- (7.3%) ABB, Ltd. 9,758 248,610 ABB, Ltd. Sponsored ADR 16,629 423,541 * Acino Holding AG 154 19,511 Adecco SA 4,752 350,430 * AFG Arbonia-Forster Holding AG 960 33,275 Allreal Holding AG 448 61,594 Alpiq Holding AG 48 6,340 ams AG 411 44,874 Autoneum Holding AG 30 3,994 Bank Coop AG 211 11,081 Banque Cantonale Vaudoise 96 53,344 Barry Callebaut AG 48 50,138 Basler Kantonalbank 208 17,505 Belimo Holding AG 4 10,310 Berner Kantonalbank AG 157 39,117 * Bobst Group AG 718 25,343 Bossard Holding AG 68 13,831 Bucher Industries AG 223 61,755 Burckhardt Compression Holding AG 65 26,047 * Charles Voegele Holding AG 527 6,784 Cie Financiere Richemont SA 6,065 620,144 Clariant AG 8,352 147,161 Conzzeta AG 18 37,339 Credit Suisse Group AG 21,840 679,397 Credit Suisse Group AG Sponsored ADR 21,939 682,961 Daetwyler Holding AG 429 54,552 DKSH Holding AG 269 22,443 * Dufry AG 519 83,853 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ ---------- SWITZERLAND -- (Continued) Emmi AG 73 $ 21,004 EMS-Chemie Holding AG 188 68,459 Energiedienst Holding AG 195 6,675 Flughafen Zuerich AG 107 59,298 Galenica AG 117 103,405 * Gategroup Holding AG 959 25,116 Geberit AG 480 143,407 Givaudan SA 157 222,656 Helvetia Holding AG 199 93,856 Holcim, Ltd. 6,879 511,656 Huber & Suhner AG 281 15,367 Implenia AG 638 42,966 Inficon Holding AG 107 33,347 Kudelski SA 2,490 34,341 Kuehne + Nagel International AG 418 52,806 Kuoni Reisen Holding AG 123 51,991 Liechtensteinische Landesbank AG 210 8,320 Lindt & Spruengli AG 1 50,260 # Logitech International SA 7,268 74,441 Luzerner Kantonalbank AG 74 29,524 Metall Zug AG 5 12,010 #* Meyer Burger Technology AG 1,731 20,311 Mobimo Holding AG 147 30,784 Nestle SA 26,495 1,912,513 Nobel Biocare Holding AG 2,549 42,052 Novartis AG 10,302 799,668 Novartis AG ADR 22,653 1,756,740 OC Oerlikon Corp. AG 640 8,947 * Orascom Development Holding AG 654 9,318 Panalpina Welttransport Holding AG 290 43,341 Partners Group Holding AG 182 47,179 Phoenix Mecano AG 30 17,945 PubliGroupe AG 32 3,168 Rieter Holding AG 198 41,454 Roche Holding AG(7108918) 226 62,098 Roche Holding AG(7110388) 4,071 1,125,776 Schindler Holding AG 142 20,208 Schweiter Technologies AG 15 9,911 Schweizerische National-Versicherungs-Gesellschaft AG 589 29,110 SGS SA 52 121,667 Sika AG 73 230,129 Sonova Holding AG 797 103,723 St Galler Kantonalbank AG 77 31,315 Straumann Holding AG 93 18,485 Sulzer AG 685 107,161 Swatch Group AG (The)(7184725) 716 457,303 Swatch Group AG (The)(7184736) 689 76,660 Swiss Life Holding AG 969 192,134 Swiss Re AG 8,431 740,095 Swisscom AG 446 227,485 Swisslog Holding AG 3,346 3,905 Swissquote Group Holding SA 501 20,508 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ ----------- SWITZERLAND -- (Continued) Syngenta AG 610 $ 246,206 Syngenta AG ADR 1,500 121,125 Tecan Group AG 432 45,093 Temenos Group AG 1,495 38,095 UBS AG(B18YFJ4) 29,907 578,433 UBS AG(H89231338) 21,265 411,690 Valiant Holding 340 31,717 Valora Holding AG 40 9,883 Verwaltungs- und Privat-Bank AG 66 6,398 Vetropack Holding AG 6 11,988 #* Von Roll Holding AG 4,126 6,871 Vontobel Holding AG 879 35,184 Walter Meier AG 300 19,082 # Zehnder Group AG 480 22,608 Zug Estates Holding AG 5 6,493 Zuger Kantonalbank AG 2 10,450 Zurich Insurance Group AG 3,698 1,021,843 ----------- TOTAL SWITZERLAND 16,430,431 ----------- UNITED KINGDOM -- (17.3%) A.G.BARR P.L.C. 1,821 15,301 Aberdeen Asset Management P.L.C. 19,794 140,475 Admiral Group P.L.C. 2,190 44,839 * Afren P.L.C. 20,049 50,679 African Barrick Gold P.L.C. 156 482 * Aga Rangemaster Group P.L.C. 991 2,052 Aggreko P.L.C. 2,760 71,170 AMEC P.L.C. 10,678 201,389 Amlin P.L.C. 8,802 60,140 Anglo American P.L.C. 10,705 254,528 ARM Holdings P.L.C. 5,384 84,365 ARM Holdings P.L.C. Sponsored ADR 1,525 71,965 Ashmore Group P.L.C. 6,735 43,643 Ashtead Group P.L.C. 25,129 264,059 Associated British Foods P.L.C. 513 18,650 AstraZeneca P.L.C. Sponsored ADR 11,519 608,894 Aviva P.L.C. 60,529 434,532 Babcock International Group P.L.C. 7,655 156,537 Balfour Beatty P.L.C. 15,251 69,747 Barclays P.L.C. 60,528 254,669 Barclays P.L.C. Sponsored ADR 60,785 1,021,796 Barratt Developments P.L.C. 17,349 93,035 BBA Aviation P.L.C. 13,135 71,195 Beazley P.L.C. 9,115 33,412 Bellway P.L.C. 4,558 109,786 Berendsen P.L.C. 3,002 46,750 Berkeley Group Holdings P.L.C. 4,610 172,806 BG Group P.L.C. 26,419 538,939 Bodycote P.L.C. 7,134 75,200 Bovis Homes Group P.L.C. 5,933 74,640 BP P.L.C. Sponsored ADR 33,475 1,556,587 Brammer P.L.C. 6,600 51,046 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- UNITED KINGDOM -- (Continued) Brewin Dolphin Holdings P.L.C. 11,579 $ 52,793 British American Tobacco P.L.C. 7,802 430,454 British American Tobacco P.L.C. Sponsored ADR 3,096 342,077 # British Sky Broadcasting Group P.L.C. Sponsored ADR 2,100 127,092 Britvic P.L.C. 4,445 44,503 * BTG P.L.C. 7,993 53,785 Bunzl P.L.C. 7,449 164,317 Burberry Group P.L.C. 4,975 122,253 Bwin.Party Digital Entertainment P.L.C. 8,620 16,936 * Cairn Energy P.L.C. 10,333 46,822 Cape P.L.C. 19 84 Capita P.L.C. 9,406 148,691 Capital & Regional P.L.C. 2,940 2,037 Carillion P.L.C. 11,868 57,821 Carnival P.L.C. ADR 900 32,040 Catlin Group, Ltd. 8,661 71,150 * Centamin P.L.C. 17,706 14,253 Centrica P.L.C. 40,035 226,427 Chemring Group P.L.C. 3,286 11,467 Cineworld Group P.L.C. 6,748 40,129 Cobham P.L.C. 26,747 123,526 Coca-Cola HBC AG ADR 3,977 114,776 * Colt Group SA 7,373 14,569 Compass Group P.L.C. 20,690 297,547 Computacenter P.L.C. 5,423 51,407 Cranswick P.L.C. 2,118 36,415 Croda International P.L.C. 2,173 84,916 CSR P.L.C. 6,238 54,947 Daily Mail & General Trust P.L.C. 6,452 84,152 Dairy Crest Group P.L.C. 3,168 27,283 DCC P.L.C. 2,010 90,009 De La Rue P.L.C. 2,414 33,085 Debenhams P.L.C. 27,433 44,752 Dechra Pharmaceuticals P.L.C. 1,285 14,234 Development Securities P.L.C. 4,283 16,056 Devro P.L.C. 8,421 42,778 Diageo P.L.C. 2,096 66,815 Diageo P.L.C. Sponsored ADR 2,320 296,009 Dignity P.L.C. 564 12,599 Diploma P.L.C. 2,091 23,225 * Dixons Retail P.L.C. 37,030 29,013 Domino Printing Sciences P.L.C. 2,816 31,185 Domino's Pizza Group P.L.C. 3,573 33,508 Drax Group P.L.C. 11,680 119,245 DS Smith P.L.C. 24,951 120,936 Electrocomponents P.L.C. 10,892 52,072 Elementis P.L.C. 28,161 116,900 * EnQuest P.L.C. 21,447 45,853 * Enterprise Inns P.L.C. 18,852 45,800 * Essar Energy P.L.C. 14,708 28,011 Essentra PLC 2,925 36,776 Euromoney Institutional Investor P.L.C. 172 2,966 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- UNITED KINGDOM -- (Continued) * Evraz P.L.C. 3,908 $ 7,386 Experian P.L.C. 13,402 272,846 F&C Asset Management P.L.C. 28,896 47,004 Fenner P.L.C. 2,053 13,153 Ferrexpo P.L.C. 785 2,279 Fidessa Group P.L.C. 581 18,838 Firstgroup P.L.C. 760 1,406 Fresnillo P.L.C. 1,982 30,984 Fuller Smith & Turner P.L.C. 636 9,244 G4S P.L.C. 36,920 155,075 Galliford Try P.L.C. 1,974 36,341 * Gem Diamonds, Ltd. 3,300 8,426 Genus P.L.C. 1,188 25,106 GKN P.L.C. 11,606 68,368 GlaxoSmithKline P.L.C. 2,457 64,772 GlaxoSmithKline P.L.C. Sponsored ADR 18,679 983,076 Go-Ahead Group P.L.C. 891 24,018 Grafton Group P.L.C. 5,495 52,192 Greencore Group P.L.C. 20,358 58,697 Greene King P.L.C. 7,915 104,738 Greggs P.L.C. 2,161 15,923 Halfords Group P.L.C. 7,375 49,950 Halma P.L.C. 8,072 70,901 Hargreaves Lansdown P.L.C. 7,474 142,382 Hays P.L.C. 27,061 54,011 Headlam Group P.L.C. 999 6,350 Helical Bar P.L.C. 4,049 19,481 Henderson Group P.L.C. 18,450 63,330 * Heritage Oil P.L.C. 3,429 10,190 Hikma Pharmaceuticals P.L.C. 4,073 78,356 Hill & Smith Holdings P.L.C. 1,217 9,377 Hiscox, Ltd. 9,688 102,848 Hochschild Mining P.L.C. 1,326 3,516 Home Retail Group P.L.C. 30,145 96,178 Homeserve P.L.C. 3,055 11,478 Howden Joinery Group P.L.C. 19,467 100,677 HSBC Holdings P.L.C. 15,863 173,880 HSBC Holdings P.L.C. Sponsored ADR 59,768 3,289,631 Hunting P.L.C. 5,123 73,191 Hyder Consulting P.L.C. 2,770 24,193 IG Group Holdings P.L.C. 7,245 71,204 * Imagination Technologies Group P.L.C. 4,965 22,110 IMI P.L.C. 7,973 193,975 Imperial Tobacco Group P.L.C. 15,348 573,001 Inchcape P.L.C. 5,510 56,256 Informa P.L.C. 11,597 103,891 * Innovation Group P.L.C. 116,123 59,139 # InterContinental Hotels Group P.L.C. ADR 2,310 67,798 * International Consolidated Airlines Group SA 23,946 133,275 Interserve P.L.C. 2,930 28,880 Intertek Group P.L.C. 2,201 117,422 Invensys P.L.C. 9,712 77,935 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- UNITED KINGDOM -- (Continued) Investec P.L.C. 17,189 $ 120,265 * IP Group P.L.C. 7,800 18,387 ITE Group P.L.C. 6,026 31,149 ITV P.L.C. 72,400 221,369 J Sainsbury P.L.C. 37,661 238,226 James Fisher & Sons P.L.C. 731 13,050 JD Wetherspoon P.L.C. 2,129 24,076 John Wood Group P.L.C. 8,342 108,616 Johnson Matthey P.L.C. 6,163 296,608 Jupiter Fund Management P.L.C. 4,402 28,147 Kcom Group P.L.C. 11,870 19,097 Keller Group P.L.C. 3,054 51,441 Kingfisher P.L.C. 55,545 336,016 Ladbrokes P.L.C. 4,695 14,370 Laird P.L.C. 7,873 31,495 * Lamprell P.L.C. 11,637 30,597 Lancashire Holdings, Ltd. 4,724 61,470 Legal & General Group P.L.C. 69,577 241,140 * Lloyds Banking Group P.L.C. 856,331 1,059,107 #* Lloyds Banking Group P.L.C. ADR 23,290 117,149 * Lonmin P.L.C. 13,028 67,292 Low & Bonar P.L.C. 19,043 23,506 Man Group P.L.C. 52,508 74,730 Marks & Spencer Group P.L.C. 25,169 202,967 Marshalls P.L.C. 2,042 5,701 Marston's P.L.C. 19,493 47,463 McBride P.L.C. 7,116 12,493 Meggitt P.L.C. 12,867 118,121 Melrose Industries P.L.C. 44,844 229,902 Michael Page International P.L.C. 5,738 44,539 Micro Focus International P.L.C. 2,905 38,075 Millennium & Copthorne Hotels P.L.C. 512 4,680 * Mitchells & Butlers P.L.C. 6,146 39,480 Mitie Group P.L.C. 16,416 82,743 Mondi P.L.C. 16,087 287,248 Moneysupermarket.com Group P.L.C. 12,316 30,246 Morgan Advanced Materials P.L.C. 2,403 11,722 Morgan Sindall Group P.L.C. 2,809 35,811 N Brown Group P.L.C. 2,218 18,639 National Express Group P.L.C. 15,437 64,616 National Grid P.L.C. 7,548 94,854 National Grid P.L.C. Sponsored ADR 4,027 253,419 Next P.L.C. 2,221 193,953 Northgate P.L.C. 3,633 26,351 Novae Group P.L.C. 169 1,503 Pace P.L.C. 7,703 37,618 Pearson P.L.C. 850 17,778 Pearson P.L.C. Sponsored ADR 16,504 346,584 Persimmon P.L.C. 8,100 163,994 Petrofac, Ltd. 3,213 75,356 Petropavlovsk P.L.C. 2,951 3,787 Phoenix Group Holdings 1,976 24,641 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- UNITED KINGDOM -- (Continued) Phoenix IT Group, Ltd. 1,162 $ 2,728 Premier Farnell P.L.C. 6,585 23,795 * Premier Foods P.L.C. 2,677 6,466 Premier Oil P.L.C. 8,872 49,366 Prudential P.L.C. 19,483 398,442 Prudential P.L.C. ADR 3,132 128,287 PZ Cussons P.L.C. 2,842 17,934 * Quintain Estates & Development P.L.C. 16,510 25,705 Randgold Resources, Ltd. 729 54,064 Raven Russia Ltd 290 364 Reckitt Benckiser Group P.L.C. 6,259 486,694 Redrow P.L.C. 8,714 37,009 Reed Elsevier P.L.C. 3,113 43,608 # Reed Elsevier P.L.C. Sponsored ADR 2,200 123,596 Regus PLC 6,442 21,140 Renishaw P.L.C. 1,838 47,778 Rentokil Initial P.L.C. 41,610 69,613 Restaurant Group P.L.C. (The) 5,452 50,313 Rexam P.L.C. 27,210 226,578 Rightmove P.L.C. 2,579 109,593 Rio Tinto P.L.C. 1,772 89,663 # Rio Tinto P.L.C. Sponsored ADR 10,230 518,661 Rolls-Royce Holdings P.L.C. 33,307 613,615 Rotork P.L.C. 1,546 70,832 * Royal Bank of Scotland Group P.L.C. 3,977 23,424 * Royal Bank of Scotland Group P.L.C. Sponsored ADR 10,672 125,716 Royal Dutch Shell P.L.C. ADR(780259107) 21,316 1,481,888 Royal Dutch Shell P.L.C. ADR(780259206) 2,329 155,251 Royal Dutch Shell P.L.C. Class A 56 1,865 Royal Dutch Shell P.L.C. Class B 2,289 79,245 RPC Group P.L.C. 10,354 84,703 RPS Group P.L.C. 10,423 48,582 RSA Insurance Group P.L.C. 107,611 221,628 * Salamander Energy P.L.C. 7,131 12,281 Savills P.L.C. 6,177 64,346 Schroders P.L.C.(0239581) 1,920 65,505 Schroders P.L.C.(0240549) 3,075 126,912 SDL P.L.C. 2,041 8,252 Senior P.L.C. 17,526 83,638 Serco Group P.L.C. 12,629 112,851 Severfield-Rowen P.L.C. 19,906 20,332 Severn Trent P.L.C. 4,570 136,413 Shanks Group P.L.C. 3,683 6,235 Shire P.L.C. ADR 1,800 239,580 SIG P.L.C. 14,107 46,549 # Smith & Nephew P.L.C. Sponsored ADR 2,100 134,841 Smiths Group P.L.C. 6,982 160,693 Smiths News P.L.C. 4,847 16,343 Soco International P.L.C. 4,860 31,008 Spectris P.L.C. 3,589 132,893 Speedy Hire P.L.C. 13,614 14,208 Spirent Communications P.L.C. 8,253 14,624 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ------- ------------ UNITED KINGDOM -- (Continued) Spirit Pub Co. P.L.C. 19,306 $ 22,668 * Sports Direct International P.L.C. 3,641 40,918 SSE P.L.C. 12,108 274,672 St James's Place P.L.C. 1,601 17,330 ST Modwen Properties P.L.C. 5,130 28,973 Stagecoach Group P.L.C. 6,568 37,059 Standard Chartered P.L.C. 27,011 648,534 Standard Life P.L.C. 54,121 305,334 Synergy Health P.L.C. 1,599 26,546 Synthomer P.L.C. 1,365 5,322 TalkTalk Telecom Group P.L.C. 4,267 18,266 Taylor Wimpey P.L.C. 87,981 155,231 Telecity Group P.L.C. 4,092 50,026 Telecom Plus P.L.C. 1,242 30,690 Tesco P.L.C. 124,729 727,561 * Thomas Cook Group P.L.C. 9,258 21,308 Travis Perkins P.L.C. 7,092 210,899 * Trinity Mirror P.L.C. 3,332 7,113 TT electronics P.L.C. 2,291 7,313 Tullett Prebon P.L.C. 1,288 6,561 Tullow Oil P.L.C. 11,523 174,173 UBM P.L.C. 5,598 61,279 UDG Healthcare P.L.C. 1,895 9,461 Ultra Electronics Holdings P.L.C. 409 12,683 Unilever P.L.C. 345 13,990 # Unilever P.L.C. Sponsored ADR 8,050 326,749 Unite Group P.L.C. 8,329 52,944 United Utilities Group P.L.C. 5,654 63,946 Vedanta Resources P.L.C. 3,226 54,964 Victrex P.L.C. 1,888 49,895 Vodafone Group P.L.C. 206,526 756,455 Vodafone Group P.L.C. Sponsored ADR 49,867 1,836,103 Weir Group P.L.C. (The) 2,501 90,332 WH Smith P.L.C. 1,375 19,843 Whitbread P.L.C. 3,311 182,075 WM Morrison Supermarkets P.L.C. 64,665 291,770 Wolseley P.L.C. 5,500 296,070 WPP P.L.C. 11,150 236,836 WPP P.L.C. Sponsored ADR 2,474 263,580 WS Atkins P.L.C. 2,799 55,370 Xchanging P.L.C. 3,063 6,218 ------------ TOTAL UNITED KINGDOM 38,878,779 ------------ TOTAL COMMON STOCKS 205,296,851 ------------ PREFERRED STOCKS -- (0.1%) GERMANY -- (0.1%) * Porsche Automobil Holding SE 2,131 198,986 ------------ UNITED KINGDOM -- (0.0%) * McBride P.L.C. 234,828 376 INTERNATIONAL SUSTAINABILITY CORE 1 PORTFOLIO CONTINUED SHARES VALUE++ ---------- ------------ UNITED KINGDOM -- (Continued) * Rolls-Royce Holdings P.L.C. 2,864,402 $ 4,593 ------------ TOTAL UNITED KINGDOM 4,969 ------------ TOTAL PREFERRED STOCKS 203,955 ------------ RIGHTS/WARRANTS -- (0.0%) AUSTRIA -- (0.0%) * Intercell AG Rights 05/16/13 265 -- ------------ FRANCE -- (0.0%) * Groupe Fnac Rights 05/16/15 3 9 ------------ HONG KONG -- (0.0%) * New Hotel Rights 12/31/13 524 -- ------------ ITALY -- (0.0%) #* Hera SpA Rights 11/19/13 13,780 249 ------------ SPAIN -- (0.0%) * Banco Santander SA Rights 10/30/13 81,299 17,551 ------------ TOTAL RIGHTS/WARRANTS 17,809 ------------ SHARES/ FACE AMOUNT (000) VALUE+ ---------- ------------ SECURITIES LENDING COLLATERAL -- (8.8%) (S)@ DFA Short Term Investment Fund 1,642,178 19,000,000 @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $931,366 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $842,252) to be repurchased at $825,740 $ 826 825,737 ------------ TOTAL SECURITIES LENDING COLLATERAL 19,825,737 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $186,413,758) $225,344,352 ============ DFA INTERNATIONAL VALUE EX TOBACCO PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 SHARES VALUE++ ------ ---------- COMMON STOCKS -- (92.3%) AUSTRALIA -- (5.1%) * Alumina, Ltd. 37,687 $ 36,642 Asciano, Ltd. 17,718 97,305 Bank of Queensland, Ltd. 5,659 64,555 Bendigo and Adelaide Bank, Ltd. 12,974 133,565 #* BlueScope Steel, Ltd. 7,923 37,372 # Boral, Ltd. 15,539 72,507 Caltex Australia, Ltd. 1,429 24,969 Echo Entertainment Group, Ltd. 18,272 45,859 # Harvey Norman Holdings, Ltd. 7,208 22,180 Incitec Pivot, Ltd. 39,877 100,327 Lend Lease Group 9,422 101,606 Macquarie Group, Ltd. 7,410 356,418 Metcash, Ltd. 871 2,756 # New Hope Corp., Ltd. 1,031 3,679 Newcrest Mining, Ltd. 6,011 58,287 Origin Energy, Ltd. 26,579 367,440 # OZ Minerals, Ltd. 5,584 19,033 Primary Health Care, Ltd. 7,694 35,896 #* Qantas Airways, Ltd. 25,486 29,963 QBE Insurance Group, Ltd. 2,524 35,347 Rio Tinto, Ltd. 4,196 252,482 Santos, Ltd. 22,639 324,010 Seven Group Holdings, Ltd. 3,080 24,260 * Sims Metal Management, Ltd. 3,434 32,528 Sonic Healthcare, Ltd. 2,137 32,622 Suncorp Group, Ltd. 35,006 441,404 Tabcorp Holdings, Ltd. 15,227 51,791 Tatts Group, Ltd. 28,433 84,426 Toll Holdings, Ltd. 11,026 60,068 Treasury Wine Estates, Ltd. 12,274 54,509 Washington H Soul Pattinson & Co., Ltd. 288 4,102 Wesfarmers, Ltd. 31,480 1,277,425 Woodside Petroleum, Ltd. 326 11,951 ---------- TOTAL AUSTRALIA 4,297,284 ---------- AUSTRIA -- (0.3%) Erste Group Bank AG 4,533 159,152 # Raiffeisen Bank International AG 1,529 56,084 ---------- TOTAL AUSTRIA 215,236 ---------- BELGIUM -- (1.3%) Ageas 5,638 239,591 Belgacom SA 632 17,292 Delhaize Group SA 2,711 173,136 KBC Groep NV 3,566 194,281 # Solvay SA 1,514 236,734 UCB SA 2,810 184,454 ---------- TOTAL BELGIUM 1,045,488 ---------- DFA INTERNATIONAL VALUE EX TOBACCO PORTFOLIO CONTINUED SHARES VALUE++ ------ ---------- CANADA -- (8.5%) Barrick Gold Corp. 12,879 $ 249,724 #* BlackBerry, Ltd. 7,188 56,737 # Bonavista Energy Corp. 1,204 13,892 Cameco Corp. 4,527 85,925 Canadian Natural Resources, Ltd.(136385101) 10,741 341,027 Canadian Natural Resources, Ltd.(2171573) 11,405 361,954 # Canadian Tire Corp., Ltd. Class A 2,200 204,206 # Crescent Point Energy Corp. 5,356 207,993 Empire Co., Ltd. 600 44,183 # Enerplus Corp. 1,972 34,025 Ensign Energy Services, Inc. 2,603 44,488 Fairfax Financial Holdings, Ltd. 347 151,427 First Quantum Minerals, Ltd. 3,161 59,964 # Genworth MI Canada, Inc. 742 23,349 Goldcorp, Inc.(380956409) 8,346 212,239 Goldcorp, Inc.(2676302) 9,088 231,504 # Husky Energy, Inc. 7,339 208,630 IAMGOLD Corp.(450913108) 2,872 14,647 # IAMGOLD Corp.(2446646) 813 4,156 Industrial Alliance Insurance & Financial Services, Inc. 1,800 80,725 Kinross Gold Corp. 20,200 102,681 # Lightstream Resources, Ltd. 600 3,855 #* Lundin Mining Corp. 7,637 34,426 # Magna International, Inc. 6,640 562,392 Manulife Financial Corp. 29,115 515,757 * MEG Energy Corp. 2,200 70,411 Pacific Rubiales Energy Corp. 4,700 97,232 Pan American Silver Corp. 2,900 30,818 # Pengrowth Energy Corp. 4,165 26,764 # Penn West Petroleum, Ltd. 7,406 82,679 # Precision Drilling Corp. 4,250 44,960 # Sun Life Financial, Inc. 12,850 432,832 Suncor Energy, Inc. 32,505 1,181,235 Talisman Energy, Inc. 22,512 280,685 # Teck Resources, Ltd. Class B 11,791 315,512 # Thomson Reuters Corp. 10,478 393,735 # TransAlta Corp. 5,411 72,811 Yamana Gold, Inc. 22,000 218,175 ---------- TOTAL CANADA 7,097,755 ---------- DENMARK -- (1.5%) AP Moeller--Maersk A.S. Class A 10 90,299 AP Moeller--Maersk A.S. Class B 32 309,599 Carlsberg A.S. Class B 3,388 338,414 * Danske Bank A.S. 16,130 376,890 # FLSmidth & Co. A.S. 348 17,369 H Lundbeck A.S. 1,354 29,072 TDC A.S. 11,573 104,540 ---------- TOTAL DENMARK 1,266,183 ---------- FINLAND -- (0.9%) Fortum Oyj 7,198 160,565 DFA INTERNATIONAL VALUE EX TOBACCO PORTFOLIO CONTINUED SHARES VALUE++ ------ ---------- FINLAND -- (Continued) # Kesko Oyj Class B 830 $ 27,581 Neste Oil Oyj 374 7,416 * Nokia Oyj 18,801 142,902 Stora Enso Oyj Class R 14,570 135,295 UPM-Kymmene Oyj 16,377 260,022 ---------- TOTAL FINLAND 733,781 ---------- FRANCE -- (10.5%) AXA SA 1,036 25,812 AXA SA Sponsored ADR 37,500 937,875 BNP Paribas SA 18,163 1,339,942 Bollore SA 132 71,982 Bouygues SA 3,236 126,259 Cap Gemini SA 2,746 180,077 Casino Guichard Perrachon SA 1,254 140,956 * CGG 4,238 93,151 Cie de St-Gobain 9,008 472,830 Cie Generale des Etablissements Michelin 1,527 159,110 CNP Assurances 3,923 69,108 * Credit Agricole SA 29,433 353,889 Electricite de France SA 4,582 160,360 GDF Suez 37,268 923,641 Lafarge SA 4,430 305,650 Lagardere SCA 1,998 72,586 Natixis 21,884 117,683 Orange 41,374 568,730 #* Peugeot SA 4,276 56,251 Renault SA 4,615 402,660 Rexel SA 2,641 66,138 Societe Generale SA 17,972 1,015,229 STMicroelectronics NV 16,130 124,072 Vallourec SA 851 50,653 Vivendi SA 37,887 959,289 ---------- TOTAL FRANCE 8,793,933 ---------- GERMANY -- (8.0%) Allianz SE 4,496 754,889 Bayerische Motoren Werke AG 3,792 429,173 # Celesio AG 76 2,363 * Commerzbank AG 11,071 141,598 Daimler AG 19,352 1,584,440 Deutsche Bank AG(D18190898) 15,365 742,437 Deutsche Bank AG(5750355) 3,610 174,468 * Deutsche Lufthansa AG 4,876 94,268 Deutsche Telekom AG 54,246 852,460 E.ON SE 33,149 604,256 Fraport AG Frankfurt Airport Services Worldwide 196 15,163 HeidelbergCement AG 2,355 185,432 Hochtief AG 503 45,494 Metro AG 1,550 72,673 Muenchener Rueckversicherungs AG 3,004 626,731 RWE AG 4,995 184,026 DFA INTERNATIONAL VALUE EX TOBACCO PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- GERMANY -- (Continued) Volkswagen AG 624 $ 152,597 # Wacker Chemie AG 105 9,860 ---------- TOTAL GERMANY 6,672,328 ---------- GREECE -- (0.1%) Hellenic Petroleum SA 5,666 73,675 * National Bank of Greece SA 799 4,540 ---------- TOTAL GREECE 78,215 ---------- HONG KONG -- (1.8%) Cathay Pacific Airways, Ltd. 17,000 33,677 Cheung Kong Holdings, Ltd. 10,000 156,428 Great Eagle Holdings, Ltd. 8,217 29,313 Henderson Land Development Co., Ltd. 33,584 198,510 Hongkong & Shanghai Hotels (The) 13,000 20,458 Hopewell Holdings, Ltd. 5,000 16,871 Hutchison Whampoa, Ltd. 33,000 410,989 Kerry Properties, Ltd. 7,000 30,446 New World Development Co., Ltd. 86,115 119,354 Orient Overseas International, Ltd. 6,000 30,991 Shangri-La Asia, Ltd. 18,000 33,115 Sino Land Co., Ltd. 32,000 44,880 Sun Hung Kai Properties, Ltd. 9,000 117,656 Wharf Holdings, Ltd. 19,000 160,624 Wheelock & Co., Ltd. 27,000 138,138 ---------- TOTAL HONG KONG 1,541,450 ---------- IRELAND -- (0.1%) * Bank of Ireland 202,253 73,920 CRH P.L.C. Sponsored ADR 592 14,492 ---------- TOTAL IRELAND 88,412 ---------- ISRAEL -- (0.2%) Bank Hapoalim BM 16,620 88,975 * Bank Leumi Le-Israel BM 23,640 89,985 * Israel Discount Bank, Ltd. Class A 13,386 26,712 ---------- TOTAL ISRAEL 205,672 ---------- ITALY -- (1.6%) #* Banca Monte dei Paschi di Siena SpA 88,378 27,863 #* Finmeccanica SpA 3,600 26,381 Intesa Sanpaolo SpA 70,951 176,020 * Mediaset SpA 7,532 37,612 Telecom Italia SpA 234,061 228,338 UniCredit SpA 91,100 683,850 Unione di Banche Italiane SCPA 24,403 168,660 ---------- TOTAL ITALY 1,348,724 ---------- JAPAN -- (18.6%) 77 Bank, Ltd. (The) 9,864 48,786 # Aeon Co., Ltd. 14,100 192,414 DFA INTERNATIONAL VALUE EX TOBACCO PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- JAPAN -- (Continued) Aisin Seiki Co., Ltd. 1,500 $ 60,937 Alfresa Holdings Corp. 1,000 54,656 Amada Co., Ltd. 10,000 86,026 Asahi Glass Co., Ltd. 19,000 117,345 Asahi Kasei Corp. 20,000 152,212 Bank of Kyoto, Ltd. (The) 7,000 61,679 Bank of Yokohama, Ltd. (The) 12,000 66,171 Brother Industries, Ltd. 3,200 36,359 Canon Marketing Japan, Inc. 1,500 20,095 Chiba Bank, Ltd. (The) 9,000 64,160 Chugoku Bank, Ltd. (The) 3,000 43,130 Citizen Holdings Co., Ltd. 4,700 33,533 Coca-Cola West Co., Ltd. 1,800 36,509 COMSYS Holdings Corp. 1,900 26,379 #* Cosmo Oil Co., Ltd. 20,636 36,336 Dai Nippon Printing Co., Ltd. 19,000 199,613 Dai-ichi Life Insurance Co., Ltd. (The) 3,900 55,676 Daicel Corp. 4,000 33,715 Daido Steel Co., Ltd. 4,000 23,002 Denki Kagaku Kogyo KK 4,000 16,775 Ebara Corp. 4,000 21,505 Fuji Media Holdings, Inc. 1,000 19,935 FUJIFILM Holdings Corp. 13,400 327,814 * Fujitsu, Ltd. 24,000 103,109 Fukuoka Financial Group, Inc. 27,000 121,782 # Furukawa Electric Co., Ltd. 4,000 9,271 Glory, Ltd. 1,800 44,634 Gunma Bank, Ltd. (The) 11,735 67,901 H2O Retailing Corp. 2,000 16,995 Hachijuni Bank, Ltd. (The) 11,000 67,954 Hakuhodo DY Holdings, Inc. 4,100 31,710 # Hiroshima Bank, Ltd. (The) 4,000 17,024 Hitachi Chemical Co., Ltd. 900 13,808 Hitachi High-Technologies Corp. 900 20,700 Hokuhoku Financial Group, Inc. 20,000 41,239 House Foods Group, Inc. 2,300 36,431 # Ibiden Co., Ltd. 1,300 22,536 Idemitsu Kosan Co., Ltd. 800 66,971 Inpex Corp. 17,600 203,315 Isetan Mitsukoshi Holdings, Ltd. 11,400 172,769 ITOCHU Corp. 25,900 311,425 Iyo Bank, Ltd. (The) 4,000 41,767 J Front Retailing Co., Ltd. 13,000 101,158 JFE Holdings, Inc. 10,300 234,167 Joyo Bank, Ltd. (The) 8,000 41,553 JTEKT Corp. 2,800 35,947 JX Holdings, Inc. 56,740 280,560 Kagoshima Bank, Ltd. (The) 3,238 21,796 Kajima Corp. 13,000 55,176 Kamigumi Co., Ltd. 5,000 43,492 Kaneka Corp. 9,000 57,110 Kawasaki Kisen Kaisha, Ltd. 14,000 32,094 DFA INTERNATIONAL VALUE EX TOBACCO PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- JAPAN -- (Continued) Keiyo Bank, Ltd. (The) 9,000 $ 45,835 Kewpie Corp. 1,000 15,046 Kinden Corp. 4,000 43,931 * Kobe Steel, Ltd. 32,000 56,524 Konica Minolta, Inc. 6,500 53,826 Kuraray Co., Ltd. 2,900 34,050 # Kurita Water Industries, Ltd. 400 8,730 Kyocera Corp. 7,000 363,514 Kyowa Hakko Kirin Co., Ltd. 4,000 44,180 # LIXIL Group Corp. 3,000 70,418 # Marubeni Corp. 34,000 266,201 Marui Group Co., Ltd. 7,158 68,521 # Maruichi Steel Tube, Ltd. 900 21,978 Medipal Holdings Corp. 4,200 56,632 MEIJI Holdings Co., Ltd. 1,000 55,902 Mitsubishi Chemical Holdings Corp. 28,500 133,416 Mitsubishi Corp. 32,300 653,463 # Mitsubishi Gas Chemical Co., Inc. 12,000 98,071 Mitsubishi Logistics Corp. 1,000 13,897 Mitsubishi Materials Corp. 37,000 144,759 Mitsubishi Tanabe Pharma Corp. 3,600 50,773 Mitsubishi UFJ Financial Group, Inc. 321,100 2,044,849 # Mitsubishi UFJ Financial Group, Inc. ADR 37,128 237,619 Mitsui & Co., Ltd. 39,400 562,865 # Mitsui Chemicals, Inc. 17,000 45,191 Mitsui OSK Lines, Ltd. 15,000 63,492 Mizuho Financial Group, Inc. 109,300 229,428 MS&AD Insurance Group Holdings 7,719 199,593 Nagase & Co., Ltd. 3,111 38,753 NEC Corp. 65,000 146,002 Nippon Electric Glass Co., Ltd. 7,000 36,006 Nippon Express Co., Ltd. 17,000 85,366 Nippon Meat Packers, Inc. 5,000 73,206 # Nippon Paper Industries Co., Ltd. 3,600 57,362 Nippon Shokubai Co., Ltd. 2,000 24,535 Nippon Steel & Sumitomo Metal Corp. 157,000 518,187 Nippon Television Holdings, Inc. 1,500 27,478 # Nippon Yusen KK 26,000 79,443 Nishi-Nippon City Bank, Ltd. (The) 18,779 50,736 Nissan Motor Co., Ltd. 12,200 122,503 # Nisshin Seifun Group, Inc. 2,750 29,814 Nisshin Steel Holdings Co., Ltd. 1,600 21,334 Nisshinbo Holdings, Inc. 3,000 26,497 NKSJ Holdings, Inc. 1,400 36,239 NOK Corp. 1,500 23,188 NTT DOCOMO, Inc. 30,100 477,537 Obayashi Corp. 19,000 121,735 Oji Holdings Corp. 16,000 73,120 Onward Holdings Co., Ltd. 3,000 24,830 Rengo Co., Ltd. 4,000 21,394 Resona Holdings, Inc. 1,600 8,323 Ricoh Co., Ltd. 23,000 242,899 DFA INTERNATIONAL VALUE EX TOBACCO PORTFOLIO CONTINUED SHARES VALUE++ ------ ----------- JAPAN -- (Continued) Rohm Co., Ltd. 3,200 $ 131,353 Sankyo Co., Ltd. 400 19,024 Seiko Epson Corp. 3,500 57,133 Sekisui Chemical Co., Ltd. 2,000 23,237 # Sekisui House, Ltd. 14,000 200,954 Shiga Bank, Ltd. (The) 7,108 38,848 Shimizu Corp. 11,000 56,413 Shizuoka Bank, Ltd. (The) 9,000 101,263 # Showa Denko KK 26,000 35,255 Showa Shell Sekiyu KK 4,200 45,154 SKY Perfect JSAT Holdings, Inc. 4,600 26,562 Sojitz Corp. 26,100 50,681 Sony Corp. 1,700 29,656 Sony Corp. Sponsored ADR 22,200 382,950 # Sumitomo Chemical Co., Ltd. 26,000 95,222 Sumitomo Corp. 28,900 376,084 Sumitomo Electric Industries, Ltd. 25,100 376,107 Sumitomo Forestry Co., Ltd. 2,700 31,412 # Sumitomo Heavy Industries, Ltd. 10,000 44,259 Sumitomo Metal Mining Co., Ltd. 10,000 138,506 Sumitomo Mitsui Financial Group, Inc. 2,100 101,505 Suzuken Co. Ltd/Aichi Japan 1,400 50,554 Suzuki Motor Corp. 6,100 153,387 T&D Holdings, Inc. 2,500 30,014 Takashimaya Co., Ltd. 6,000 57,246 Takata Corp. 1,000 25,222 TDK Corp. 1,400 59,500 # Teijin, Ltd. 13,000 29,191 Tokai Rika Co., Ltd. 600 12,723 Tokyo Broadcasting System Holdings, Inc. 1,600 21,082 Toppan Printing Co., Ltd. 16,000 126,374 Tosoh Corp. 8,000 30,613 Toyo Seikan Group Holdings, Ltd. 4,251 88,348 Toyota Tsusho Corp. 3,800 105,553 Ube Industries, Ltd. 16,000 33,118 UNY Group Holdings Co., Ltd. 6,250 39,439 Wacoal Holdings Corp. 2,000 21,476 # Yamada Denki Co., Ltd. 9,000 25,245 Yamaguchi Financial Group, Inc. 5,852 55,147 Yamaha Corp. 3,100 46,284 # Yamato Kogyo Co., Ltd. 800 29,651 ----------- TOTAL JAPAN 15,600,092 ----------- NETHERLANDS -- (3.0%) Aegon NV 47,918 381,278 Akzo Nobel NV 3,925 284,933 ArcelorMittal(B03XPL1) 17,931 282,424 # ArcelorMittal(B295F26) 6,200 97,712 * ING Groep NV 65,495 832,291 Koninklijke Ahold NV 5,028 95,565 Koninklijke DSM NV 3,120 235,849 DFA INTERNATIONAL VALUE EX TOBACCO PORTFOLIO CONTINUED SHARES VALUE++ - ------- ---------- NETHERLANDS -- (Continued) Koninklijke Philips NV 7,876 $ 278,343 ---------- TOTAL NETHERLANDS 2,488,395 ---------- NEW ZEALAND -- (0.0%) Contact Energy, Ltd. 5,869 25,451 Fletcher Building, Ltd. 1,616 13,336 ---------- TOTAL NEW ZEALAND 38,787 ---------- NORWAY -- (0.7%) DNB ASA 15,991 283,465 # Norsk Hydro ASA 27,971 124,828 Orkla ASA 4,252 34,467 * Storebrand ASA 7,005 45,298 Subsea 7 SA 4,168 88,144 ---------- TOTAL NORWAY 576,202 ---------- PORTUGAL -- (0.0%) * EDP Renovaveis SA 4,290 23,585 ---------- SINGAPORE -- (1.1%) CapitaLand, Ltd. 102,500 256,813 DBS Group Holdings, Ltd. 6,128 82,614 Golden Agri-Resources, Ltd. 137,000 66,152 Keppel Land, Ltd. 13,000 38,756 #* Neptune Orient Lines, Ltd. 14,000 11,925 Noble Group, Ltd. 72,000 59,488 # Olam International, Ltd. 24,000 29,692 OUE, Ltd. 5,000 9,733 Singapore Airlines, Ltd. 21,000 176,156 United Industrial Corp., Ltd. 31,000 76,558 UOL Group, Ltd. 4,000 21,171 Wheelock Properties Singapore, Ltd. 14,000 19,158 Wilmar International, Ltd. 34,000 94,572 ---------- TOTAL SINGAPORE 942,788 ---------- SPAIN -- (2.0%) Acciona SA 890 56,419 Banco de Sabadell SA 33,526 85,904 * Banco Popular Espanol SA 32,047 181,784 Banco Santander SA 70,915 628,682 CaixaBank 8,702 45,104 Iberdrola SA 65,744 412,665 Repsol SA 8,197 219,768 ---------- TOTAL SPAIN 1,630,326 ---------- SWEDEN -- (2.4%) Boliden AB 4,059 57,650 * ICA Gruppen AB 656 19,826 Meda AB Class A 1,317 14,779 Nordea Bank AB 41,285 528,097 Skandinaviska Enskilda Banken AB Class A 35,139 425,008 DFA INTERNATIONAL VALUE EX TOBACCO PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- SWEDEN -- (Continued) # SSAB AB Class A 3,054 $ 20,091 SSAB AB Class B 1,349 7,611 Svenska Cellulosa AB Class A 637 18,002 Svenska Cellulosa AB Class B 5,851 165,883 Telefonaktiebolaget LM Ericsson Class B 44,784 535,671 TeliaSonera AB 26,269 217,218 ---------- TOTAL SWEDEN 2,009,836 ---------- SWITZERLAND -- (7.3%) Adecco SA 3,030 223,444 Aryzta AG 2,173 162,111 Baloise Holding AG 1,176 136,620 Clariant AG 5,542 97,649 Credit Suisse Group AG 32,573 1,013,279 # Credit Suisse Group AG Sponsored ADR 614 19,114 Holcim, Ltd. 7,487 556,879 Lonza Group AG 612 54,629 Novartis AG 985 76,458 Novartis AG ADR 1,759 136,410 Sulzer AG 585 91,517 Swiss Life Holding AG 855 169,530 Swiss Re AG 11,290 991,066 UBS AG 77,071 1,490,635 Zurich Insurance Group AG 3,199 883,958 ---------- TOTAL SWITZERLAND 6,103,299 ---------- UNITED KINGDOM -- (17.3%) Anglo American P.L.C. 13,433 319,391 Aviva P.L.C. 28,493 204,548 Barclays P.L.C. 41,183 173,276 # Barclays P.L.C. Sponsored ADR 73,082 1,228,508 BP P.L.C. 28,284 219,557 BP P.L.C. Sponsored ADR 62,430 2,902,995 # Carnival P.L.C. ADR 5,587 198,897 * Eurasian Natural Resources Corp. P.L.C. 2,074 7,473 Glencore Xstrata P.L.C. 134,343 731,126 HSBC Holdings P.L.C. 39,705 435,220 HSBC Holdings P.L.C. Sponsored ADR 5,071 279,108 * International Consolidated Airlines Group SA 26,617 148,141 Investec P.L.C. 15,846 110,868 J Sainsbury P.L.C. 30,787 194,744 Kazakhmys P.L.C. 3,159 13,291 Kingfisher P.L.C. 76,714 464,077 * Lloyds Banking Group P.L.C. 468,283 579,171 #* Lloyds Banking Group P.L.C. ADR 72,725 365,807 Mondi P.L.C. 1,689 30,159 Old Mutual P.L.C. 89,944 293,131 Pearson P.L.C. Sponsored ADR 7,250 152,250 Resolution, Ltd. 25,787 147,650 * Royal Bank of Scotland Group P.L.C. 39,064 230,069 * Royal Bank of Scotland Group P.L.C. Sponsored ADR 5,598 65,944 Royal Dutch Shell P.L.C. ADR(780259107) 28,341 1,970,266 DFA INTERNATIONAL VALUE EX TOBACCO PORTFOLIO CONTINUED SHARES VALUE++ -------- ----------- UNITED KINGDOM -- (Continued) Royal Dutch Shell P.L.C. ADR(780259206) 6,236 $ 415,692 Vedanta Resources P.L.C. 2,074 35,337 Vodafone Group P.L.C. 15,075 55,216 Vodafone Group P.L.C. Sponsored ADR 63,609 2,342,083 WM Morrison Supermarkets P.L.C. 33,946 153,165 ----------- TOTAL UNITED KINGDOM 14,467,160 ----------- TOTAL COMMON STOCKS 77,264,931 ----------- PREFERRED STOCKS -- (0.2%) GERMANY -- (0.2%) Porsche Automobil Holding SE 2,107 196,744 ----------- RIGHTS/WARRANTS -- (0.0%) HONG KONG -- (0.0%) * New Hotel Rights 12/31/13 1,076 -- ----------- SPAIN -- (0.0%) * Banco Santander SA Rights 10/30/13 70,915 15,309 ----------- TOTAL RIGHTS/WARRANTS 15,309 ----------- SHARES/ FACE AMOUNT (000) VALUE+ -------- ----------- SECURITIES LENDING COLLATERAL -- (7.5%) (S)@ DFA Short Term Investment Fund 518,583 6,000,000 @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $297,899 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $269,395) to be repurchased at $264,114 $ 264 264,113 ----------- TOTAL SECURITIES LENDING COLLATERAL 6,264,113 ----------- TOTAL INVESTMENTS -- (100.0%) (Cost $77,262,854) $83,741,097 =========== INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 SHARES VALUE++ ------ -------- COMMON STOCKS -- (92.2%) AUSTRALIA -- (6.5%) Adelaide Brighton, Ltd. 9,038 $ 32,895 AGL Energy, Ltd. 4,104 60,627 # ALS Ltd/Queensland 4,855 45,927 * Alumina, Ltd. 82,349 80,065 Amalgamated Holdings, Ltd. 2,620 20,088 Amcor, Ltd. 5,257 53,855 AMP, Ltd. 46,396 207,898 AP Eagers, Ltd. 1,533 6,818 APA Group 13,940 79,870 #* Aquila Resources, Ltd. 5,559 11,859 # ARB Corp., Ltd. 474 5,219 Arrium, Ltd. 45,969 60,062 Asciano, Ltd. 22,830 125,379 ASX, Ltd. 2,681 93,126 Atlas Iron, Ltd. 50,565 49,278 Aurizon Holdings, Ltd. 12,772 57,816 * Aurora Oil & Gas, Ltd. 5,370 16,490 # Ausdrill, Ltd. 2,610 3,771 # Ausenco, Ltd. 3,360 5,225 Austbrokers Holdings, Ltd. 2,014 23,419 Austin Engineering, Ltd. 5,812 21,711 Australia & New Zealand Banking Group, Ltd. 24,858 795,465 #* Australian Agricultural Co., Ltd. 16,005 17,023 Automotive Holdings Group, Ltd. 6,624 22,739 * AWE, Ltd. 22,768 26,862 Bank of Queensland, Ltd. 13,313 151,867 BC Iron, Ltd. 4,113 19,139 Beach Energy, Ltd. 42,909 57,957 Bendigo and Adelaide Bank, Ltd. 16,572 170,605 BHP Billiton, Ltd. 8,085 285,832 BHP Billiton, Ltd. Sponsored ADR 1,016 71,821 * BlueScope Steel, Ltd. 19,711 92,974 # Boart Longyear, Ltd. 21,171 8,581 # Boral, Ltd. 32,200 150,249 # Bradken, Ltd. 8,625 50,883 Brambles, Ltd. 7,912 69,457 Breville Group, Ltd. 823 6,260 # Brickworks, Ltd. 1,451 19,595 BT Investment Management, Ltd. 674 3,184 # Cabcharge Australia, Ltd. 5,750 21,931 Caltex Australia, Ltd. 2,374 41,481 # Cardno, Ltd. 5,506 36,851 carsales.com, Ltd. 1,936 19,225 Cash Converters International, Ltd. 19,611 17,626 Cedar Woods Properties, Ltd. 2,082 13,632 # Clough, Ltd. 9,174 12,592 Coca-Cola Amatil, Ltd. 2,555 31,136 # Cochlear, Ltd. 685 38,060 Commonwealth Bank of Australia 5,465 393,494 Computershare, Ltd. 3,183 32,302 # CSG, Ltd. 9,385 8,664 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- AUSTRALIA -- (Continued) CSR, Ltd. 19,863 $ 46,895 # David Jones, Ltd. 19,202 49,350 Decmil Group, Ltd. 10,789 25,790 Domino's Pizza Enterprises, Ltd. 618 9,116 Downer EDI, Ltd. 12,948 60,156 #* Drillsearch Energy, Ltd. 13,075 16,012 DUET Group 3,731 7,574 DuluxGroup, Ltd. 5,283 25,727 Emeco Holdings, Ltd. 7,304 2,376 * Energy Resources of Australia, Ltd. 3,419 4,138 * Energy World Corp., Ltd. 19,261 7,917 Envestra, Ltd. 36,163 38,430 Evolution Mining, Ltd. 3,686 2,913 # Fairfax Media, Ltd. 65,286 37,277 Finbar Group, Ltd. 8,281 12,294 # Fleetwood Corp., Ltd. 779 2,483 Flight Centre, Ltd. 879 43,153 Forge Group, Ltd. 4,090 17,015 Fortescue Metals Group, Ltd. 16,088 78,902 Goodman Fielder, Ltd. 53,891 38,733 GUD Holdings, Ltd. 2,204 12,350 GWA Group, Ltd. 11,308 33,129 # Harvey Norman Holdings, Ltd. 12,166 37,437 Hills Holdings, Ltd. 5,705 9,857 #* Horizon Oil, Ltd. 94,750 29,511 iiNET, Ltd. 1,156 7,111 Iluka Resources, Ltd. 6,000 58,239 Imdex, Ltd. 3,611 2,456 Incitec Pivot, Ltd. 52,194 131,316 # Independence Group NL 6,088 22,689 Insurance Australia Group, Ltd. 17,202 100,458 IOOF Holdings, Ltd. 7,032 59,800 Iress, Ltd. 2,924 27,288 James Hardie Industries P.L.C. 3,212 33,223 # JB Hi-Fi, Ltd. 2,333 48,078 # Kingsgate Consolidated, Ltd. 1,033 1,388 # Leighton Holdings, Ltd. 2,791 47,282 Lend Lease Group 13,680 147,523 #* Linc Energy, Ltd. 16,858 22,850 M2 Telecommunications Group, Ltd. 1,303 7,807 * Macmahon Holdings, Ltd. 25,813 3,663 Macquarie Group, Ltd. 4,728 227,415 * Medusa Mining, Ltd. 788 1,396 Mermaid Marine Australia, Ltd. 7,783 27,573 Mincor Resources NL 3,984 2,124 * Mineral Deposits, Ltd. 291 859 # Mineral Resources, Ltd. 4,525 48,381 # Monadelphous Group, Ltd. 1,970 33,802 Mortgage Choice, Ltd. 2,795 7,878 Mount Gibson Iron, Ltd. 26,826 22,501 # Myer Holdings, Ltd. 20,385 48,178 National Australia Bank, Ltd. 23,943 800,195 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- AUSTRALIA -- (Continued) # New Hope Corp., Ltd. 1,554 $ 5,546 # Newcrest Mining, Ltd. 11,589 112,375 # NIB Holdings, Ltd. 3,044 6,908 # NRW Holdings, Ltd. 2,329 3,075 Nufarm, Ltd. 5,456 25,161 # Oil Search, Ltd. 7,708 61,969 Orica, Ltd. 3,040 60,521 Origin Energy, Ltd. 23,532 325,317 # OZ Minerals, Ltd. 11,740 40,016 Pacific Brands, Ltd. 24,707 16,456 #* Paladin Energy, Ltd. 32,268 12,747 PanAust, Ltd. 7,483 14,201 Panoramic Resources, Ltd. 8,102 2,492 * Peet, Ltd. 4,909 6,496 Platinum Asset Management, Ltd. 1,362 7,941 Premier Investments, Ltd. 2,662 20,061 Programmed Maintenance Services, Ltd. 7,117 18,547 #* Qantas Airways, Ltd. 73,331 86,213 QBE Insurance Group, Ltd. 10,871 152,241 RCR Tomlinson, Ltd. 2,571 8,617 REA Group, Ltd. 281 11,029 * Red Fork Energy, Ltd. 23,710 10,725 # Regis Resources, Ltd. 5,460 17,791 Resolute Mining, Ltd. 13,592 8,228 # Retail Food Group, Ltd. 1,521 6,270 Ridley Corp., Ltd. 4,192 3,383 Rio Tinto, Ltd. 2,532 152,356 * Roc Oil Co., Ltd. 10,956 5,012 # SAI Global, Ltd. 10,948 42,546 Santos, Ltd. 22,199 317,712 Seek, Ltd. 4,297 52,790 * Senex Energy, Ltd. 31,721 24,863 # Seven Group Holdings, Ltd. 3,625 28,553 Seven West Media, Ltd. 22,987 54,769 Sigma Pharmaceuticals, Ltd. 44,464 23,968 #* Silver Lake Resources, Ltd. 1,410 1,016 #* Sims Metal Management, Ltd. 5,998 56,815 Skilled Group, Ltd. 6,146 20,539 SMS Management & Technology, Ltd. 974 4,239 Sonic Healthcare, Ltd. 4,576 69,854 Southern Cross Media Group, Ltd. 14,928 26,639 SP AusNet 26,894 31,771 # Spark Infrastructure Group 28,821 46,162 #* St Barbara, Ltd. 10,906 4,898 STW Communications Group, Ltd. 19,193 28,871 Suncorp Group, Ltd. 14,703 185,396 Super Retail Group, Ltd. 3,035 38,444 Sydney Airport 1,422 5,632 Telstra Corp., Ltd. 8,140 39,831 #* Ten Network Holdings, Ltd. 59,087 15,661 Toll Holdings, Ltd. 24,809 135,155 Tox Free Solutions, Ltd. 2,925 9,121 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ ----------- AUSTRALIA -- (Continued) TPG Telecom, Ltd. 2,043 $ 9,007 # Transfield Services, Ltd. 16,546 20,869 * Transpacific Industries Group, Ltd. 49,472 53,544 Transurban Group 13,091 87,819 #* Troy Resources, Ltd. 443 558 # UGL, Ltd. 5,085 35,363 UXC, Ltd. 5,386 4,856 Village Roadshow, Ltd. 3,337 22,167 #* Virgin Australia Holdings, Ltd. 54,501 21,398 Wesfarmers, Ltd. 11,142 452,131 # Western Areas, Ltd. 4,348 11,473 Westpac Banking Corp. 19,827 643,726 #* Whitehaven Coal, Ltd. 22,370 34,266 Woodside Petroleum, Ltd. 2,484 91,063 Woolworths, Ltd. 2,436 80,331 WorleyParsons, Ltd. 2,526 52,601 ----------- TOTAL AUSTRALIA 10,427,004 ----------- AUSTRIA -- (0.7%) Agrana Beteiligungs AG 20 2,439 Andritz AG 982 60,473 Atrium European Real Estate, Ltd. 1,115 6,659 DO & Co. AG 270 12,932 Erste Group Bank AG 6,139 215,539 # EVN AG 83 1,265 Flughafen Wien AG 245 18,900 IMMOFINANZ AG 12,835 56,212 # Kapsch TrafficCom AG 86 4,642 Lenzing AG 120 8,952 Mayr Melnhof Karton AG 246 27,433 # Oesterreichische Post AG 563 26,401 OMV AG 2,525 120,449 Palfinger AG 416 15,353 POLYTEC Holding AG 362 3,485 # Raiffeisen Bank International AG 1,242 45,557 RHI AG 290 10,701 S IMMO AG 785 5,274 Schoeller-Bleckmann Oilfield Equipment AG 164 18,921 Semperit AG Holding 494 24,191 Strabag SE 84 2,208 Telekom Austria AG 3,113 25,591 # UNIQA Insurance Group AG 711 8,692 # Verbund AG 1,206 28,291 Vienna Insurance Group AG Wiener Versicherung Gruppe 1,086 57,453 # Voestalpine AG 3,215 151,669 # Wienerberger AG 3,071 53,269 Zumtobel AG 1,877 33,495 ----------- TOTAL AUSTRIA 1,046,446 ----------- BELGIUM -- (1.2%) Ackermans & van Haaren NV 1,045 113,176 Ageas 6,586 279,867 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ ---------- BELGIUM -- (Continued) * AGFA-Gevaert NV 7,190 $ 17,075 Arseus NV 1,215 37,523 Banque Nationale de Belgique 2 7,842 Barco NV 392 29,672 Belgacom SA 5,226 142,991 Cie d'Entreprises CFE 102 8,060 # Cie Maritime Belge SA 333 8,864 Colruyt SA 585 32,636 D'ieteren SA 745 35,107 # Delhaize Group SA 2,582 164,898 Delhaize Group SA Sponsored ADR 1,388 88,749 Econocom Group 801 7,783 Elia System Operator SA 501 22,911 EVS Broadcast Equipment SA 367 24,010 Exmar NV 1,088 15,698 * Ion Beam Applications 595 4,910 # KBC Groep NV 5,395 293,927 Kinepolis Group NV 141 20,573 Lotus Bakeries 6 5,574 # NV Bekaert SA 1,317 55,146 # Nyrstar 3,526 14,467 * RHJ International 3,747 19,596 Sipef SA 26 1,973 # Solvay SA 1,105 172,781 Telenet Group Holding NV 861 47,192 Tessenderlo Chemie NV 974 24,381 #* ThromboGenics NV 592 16,301 Umicore SA 3,637 173,190 Van de Velde NV 436 22,161 ---------- TOTAL BELGIUM 1,909,034 ---------- CANADA -- (8.9%) * Advantage Oil & Gas, Ltd. 7,920 32,207 Aecon Group, Inc. 1,657 22,964 # AG Growth International, Inc. 200 7,289 AGF Management, Ltd. Class B 1,700 22,451 Agnico Eagle Mines, Ltd. 2,452 72,408 Agrium, Inc. 1,097 93,596 Aimia, Inc. 3,000 53,028 * Ainsworth Lumber Co., Ltd. 2,800 10,581 Alacer Gold Corp. 1,800 4,989 # Alamos Gold, Inc.(2411707) 1,088 17,332 * Alamos Gold, Inc.(011527108) 1,200 19,164 * Alexco Resource Corp. 1,285 1,825 # Algonquin Power & Utilities Corp. 7,894 50,953 Alimentation Couche Tard, Inc. Class B 500 33,866 Alliance Grain Traders, Inc. 300 4,632 # AltaGas, Ltd. 2,300 85,148 Altus Group, Ltd. 400 5,371 #* Angle Energy, Inc. 4,500 16,185 # ARC Resources, Ltd. 2,500 66,369 #* Argonaut Gold Inc. 3,300 18,357 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- CANADA -- (Continued) Atco, Ltd. Class I 800 $ 37,129 * Atrium Innovations, Inc. 600 10,928 * ATS Automation Tooling Systems, Inc. 3,200 44,256 AuRico Gold, Inc. 5,568 22,885 AutoCanada, Inc. 400 14,732 * B2Gold Corp. 7,141 17,670 Badger Daylighting, Ltd. 200 14,198 Bank of Montreal 5,295 369,062 Bank of Nova Scotia 9,804 595,789 * Bankers Petroleum, Ltd. 7,000 26,855 Barrick Gold Corp. 8,972 173,967 Baytex Energy Corp. 905 37,838 BCE, Inc. 800 34,824 # Bell Aliant, Inc. 1,300 32,929 #* Bellatrix Exploration, Ltd. 5,630 42,172 * Birchcliff Energy, Ltd. 4,100 29,296 # Black Diamond Group, Ltd. 1,000 26,193 * BlackBerry, Ltd. 7,992 63,217 #* BlackPearl Resources, Inc. 3,800 7,070 Bombardier, Inc. Class B 10,500 47,734 # Bonavista Energy Corp. 7,200 83,073 # Bonterra Energy Corp. 500 28,102 Brookfield Asset Management, Inc. Class A 1,760 69,681 Brookfield Office Properties, Inc. 1,167 21,803 * Brookfield Residential Properties, Inc. 457 10,091 Calfrac Well Services, Ltd. 800 24,936 * Calvalley Petroleums, Inc. Class A 1,493 2,205 Cameco Corp. 6,159 117,021 Canaccord Genuity Group, Inc. 3,400 21,587 #* Canada Lithium Corp. 500 189 Canadian Imperial Bank of Commerce 2,899 246,850 Canadian National Railway Co. 998 109,710 Canadian Natural Resources, Ltd. 11,986 380,556 # Canadian Oil Sands, Ltd. 3,600 70,160 Canadian Pacific Railway, Ltd. 300 42,921 # Canadian Tire Corp., Ltd. Class A 1,300 120,668 # Canadian Western Bank 2,800 89,802 * Canam Group, Inc. Class A 1,400 15,173 CanElson Drilling, Inc. 4,900 29,466 # Canexus Corp. 3,400 23,674 * Canfor Corp. 2,200 45,597 # Canfor Pulp Products, Inc. 1,300 13,491 Canyon Services Group, Inc. 2,376 26,047 # Capital Power Corp. 1,700 35,218 Capstone Infrastructure Corp. 2,400 9,046 * Capstone Mining Corp. 16,300 43,304 Cascades, Inc. 4,200 23,525 * Catamaran Corp. 578 27,143 CCL Industries, Inc. Class B 785 53,907 * Celestica, Inc. 7,581 83,088 Cenovus Energy, Inc. 2,097 62,323 Centerra Gold, Inc. 5,442 21,765 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- CANADA -- (Continued) #* Cequence Energy, Ltd. 6,404 $ 11,670 * CGI Group, Inc. Class A 1,399 46,950 * China Gold International Resources Corp., Ltd. 5,000 13,427 CI Financial Corp. 1,000 33,261 # Cineplex, Inc. 1,400 56,395 Cogeco Cable, Inc. 300 14,185 Cogeco, Inc. 175 7,922 # Colabor Group, Inc. 500 2,225 * COM DEV International, Ltd. 1,400 5,640 Computer Modelling Group, Ltd. 300 7,705 Constellation Software, Inc. 100 18,217 # Corus Entertainment, Inc. Class B 3,700 86,232 Cott Corp. 5,107 41,877 # Crescent Point Energy Corp. 2,877 111,725 * Crew Energy, Inc. 5,100 29,642 * Crocotta Energy, Inc. 1,600 4,665 Davis + Henderson Corp. 2,129 54,825 * DeeThree Exploration, Ltd. 3,900 34,038 * Delphi Energy Corp. 492 764 #* Denison Mines Corp. 3,500 3,860 * Descartes Systems Group, Inc. (The) 100 1,225 DHX Media, Ltd. 1,100 4,241 Dollarama, Inc. 300 25,786 * Dominion Diamond Corp. 2,408 32,412 Dorel Industries, Inc. Class B 989 36,747 * Dundee Precious Metals, Inc. 4,000 17,072 #* Eastern Platinum, Ltd. 7,000 403 Eldorado Gold Corp.(284902103) 7,243 48,890 Eldorado Gold Corp.(2307873) 7,100 47,871 Emera, Inc. 800 23,586 Empire Co., Ltd. 865 63,698 # Enbridge Income Fund Holdings, Inc. 1,100 24,634 # Enbridge, Inc.(2466149) 2,200 95,372 Enbridge, Inc.(29250N105) 602 26,121 Encana Corp. 1,147 20,554 * Endeavour Silver Corp. 598 2,500 Enerplus Corp. 8,304 143,410 Enghouse Systems, Ltd. 200 5,323 Ensign Energy Services, Inc. 4,200 71,783 * Essential Energy Services Trust 2,400 6,790 # Exchange Income Corp. 200 3,834 # Extendicare Inc. 2,000 12,833 Fairfax Financial Holdings, Ltd. 427 186,338 Finning International, Inc. 2,700 62,253 First Capital Realty, Inc. 1,651 28,692 * First Majestic Silver Corp. 299 3,382 First Quantum Minerals, Ltd. 9,337 177,132 FirstService Corp. 200 8,314 # Fortis, Inc. 1,100 34,214 * Fortuna Silver Mines, Inc.(349915108) 1,312 5,156 * Fortuna Silver Mines, Inc.(2383033) 7,299 28,912 Genivar, Inc. 1,400 40,067 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- CANADA -- (Continued) # Genworth MI Canada, Inc. 2,079 $ 65,422 George Weston, Ltd. 640 52,138 # Gibson Energy, Inc. 2,000 49,125 Gildan Activewear, Inc. 802 38,737 Gluskin Sheff + Associates, Inc. 500 9,639 GMP Capital, Inc. 1,000 5,956 Goldcorp, Inc. 9,997 254,224 #* Golden Star Resources, Ltd. 12,402 6,185 * Gran Tierra Energy, Inc.(38500T101) 2,706 20,539 * Gran Tierra Energy, Inc.(B2PPCS5) 11,198 84,416 * Great Panther Silver, Ltd. 753 614 # Great-West Lifeco, Inc. 1,300 40,210 #* Guyana Goldfields, Inc. 1,700 3,978 Heroux-Devtek, Inc. 200 1,794 Horizon North Logistics, Inc. 4,600 37,501 HudBay Minerals, Inc. 2,840 23,515 # Husky Energy, Inc. 3,300 93,811 IAMGOLD Corp.(450913108) 4,292 21,889 IAMGOLD Corp.(2446646) 8,100 41,407 # IGM Financial, Inc. 200 9,637 * Imperial Metals Corp. 1,400 17,711 Imperial Oil, Ltd. 2,148 93,760 Industrial Alliance Insurance & Financial Services, Inc. 2,918 130,864 Innergex Renewable Energy, Inc. 4,100 35,941 Intact Financial Corp. 1,859 115,946 * International Forest Products, Ltd. Class A 3,000 33,981 International Minerals Corp. 1,000 2,714 Intertape Polymer Group, Inc. 1,400 20,141 * Ithaca Energy, Inc. 13,625 31,885 # Jean Coutu Group PJC, Inc. (The) Class A 800 14,141 Just Energy Group, Inc.(48213W101) 1,302 9,257 # Just Energy Group, Inc.(B63MCN1) 1,499 10,639 # Keyera Corp. 700 41,423 # Killam Properties, Inc. 1,800 19,007 Kinross Gold Corp. 11,927 60,470 * Kirkland Lake Gold, Inc. 2,200 7,680 #* Lake Shore Gold Corp. 5,500 2,084 Laurentian Bank of Canada 1,400 62,504 * Legacy Oil + Gas, Inc. 5,483 37,127 # Leisureworld Senior Care Corp. 2,400 24,491 Leon's Furniture, Ltd. 200 2,538 # Lightstream Resources, Ltd. 6,484 41,666 Linamar Corp. 1,500 50,439 # Loblaw Cos., Ltd. 1,100 50,313 * Long Run Exploration, Ltd. 3,800 21,138 * Lucara Diamond Corp. 11,000 13,504 #* Lundin Mining Corp. 11,400 51,388 MacDonald Dettwiler & Associates, Ltd. 700 53,407 Magna International, Inc. 1,899 160,845 Major Drilling Group International 3,500 27,593 Manitoba Telecom Services, Inc. 900 25,438 Manulife Financial Corp. 19,951 353,133 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- CANADA -- (Continued) # Maple Leaf Foods, Inc. 2,000 $ 29,444 Martinrea International, Inc. 2,900 30,734 #* MBAC Fertilizer Corp. 1,200 2,325 # Medical Facilities Corp. 400 6,399 * MEG Energy Corp. 2,400 76,812 * MEGA Brands, Inc. 93 1,400 Methanex Corp. 698 40,596 Metro, Inc. 559 34,972 # Morneau Shepell, Inc. 400 5,486 MTY Food Group, Inc. 100 3,037 # Mullen Group, Ltd. 1,800 48,235 National Bank of Canada 937 81,312 Nevsun Resources, Ltd. 9,072 33,063 # New Flyer Industries, Inc. 1,976 20,487 * New Gold, Inc.(644535106) 4,011 23,464 * New Gold, Inc.(2826947) 6,099 35,799 * New Millennium Iron Corp. 2,000 1,362 Newalta Corp. 1,600 24,936 #* Niko Resources, Ltd. 3,600 11,567 * Nordion, Inc. 800 6,616 #* North American Palladium, Ltd. 3,301 3,008 North West Co., Inc. (The) 468 11,639 * NuVista Energy, Ltd. 3,400 21,685 #* OceanaGold Corp. 8,366 13,961 Onex Corp. 700 36,986 Open Text Corp. 697 51,118 #* Osisko Mining Corp. 12,274 59,919 Pacific Rubiales Energy Corp. 5,618 116,223 * Paladin Labs, Inc. 400 24,457 Pan American Silver Corp. 5,190 55,066 * Paramount Resources, Ltd. Class A 1,000 34,652 * Parex Resources, Inc. 2,921 16,893 # Parkland Fuel Corp. 300 5,499 # Pason Systems, Inc. 1,400 29,097 * Pembina Pipeline Corp. 2,202 72,226 Pengrowth Energy Corp.(70706P104) 4,002 25,813 # Pengrowth Energy Corp.(B67M828) 13,696 88,010 Penn West Petroleum, Ltd. 9,531 106,652 * Petrobank Energy & Resources, Ltd. 800 284 # Petrominerales, Ltd. 700 8,050 # Peyto Exploration & Development Corp. 1,300 39,175 # PHX Energy Services Corp. 600 7,078 Potash Corp. of Saskatchewan, Inc. 2,603 80,953 Precision Drilling Corp. 7,977 84,476 Premium Brands Holdings Corp. 1,100 21,037 * Primero Mining Corp.(B4Z8FV2) 3,700 21,079 * Primero Mining Corp.(74164W106) 700 4,004 Progressive Waste Solutions, Ltd. 2,299 61,728 * Pure Technologies, Ltd. 2,200 12,238 Quebecor, Inc. Class B 2,000 49,451 Reitmans Canada, Ltd. Class A 2,100 13,797 * RMP Energy, Inc. 3,649 21,838 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- CANADA -- (Continued) Rocky Mountain Dealerships, Inc. 200 $ 2,283 Rogers Communications, Inc. Class B 800 36,328 # Rogers Sugar, Inc. 3,500 18,295 # RONA, Inc. 4,300 50,397 Royal Bank of Canada 4,008 269,257 # Russel Metals, Inc. 2,100 58,006 * Sandvine Corp. 7,400 18,808 * Santonia Energy, Inc. 3,200 6,230 Saputo, Inc. 825 40,821 Savanna Energy Services Corp. 3,100 23,310 * Scorpio Mining Corp. 4,800 1,266 Sears Canada, Inc. 1,313 18,260 # SEMAFO, Inc. 12,599 34,197 Shaw Communications, Inc. Class B 1,597 38,216 ShawCor, Ltd. 378 15,890 # Sherritt International Corp. 9,158 31,357 Shoppers Drug Mart Corp. 1,900 111,013 * Sierra Wireless, Inc. 800 14,448 * Silver Standard Resources, Inc. 2,399 13,482 Silver Wheaton Corp. 1,302 29,516 SNC-Lavalin Group, Inc. 900 37,816 * Southern Pacific Resource Corp. 19,107 11,912 #* SouthGobi Resources, Ltd. 800 936 Sprott Resource Corp. 1,300 3,541 # Sprott, Inc. 9,400 23,801 # Spyglass Resources Corp. 3,710 7,401 Stantec, Inc. 667 39,640 Stella-Jones, Inc. 400 10,949 Student Transportation, Inc. 700 4,417 Sun Life Financial, Inc. 7,193 242,116 Suncor Energy, Inc. 15,693 570,441 * SunOpta, Inc. 5,300 57,034 # Superior Plus Corp. 3,200 34,128 # Surge Energy, Inc. 4,900 32,709 * TAG Oil, Ltd. 1,089 4,429 Talisman Energy, Inc. 8,572 106,979 * Taseko Mines, Ltd. 7,200 17,678 Teck Resources, Ltd. Class B 5,945 158,969 TELUS Corp. 200 7,012 * Thompson Creek Metals Co., Inc. 6,318 20,281 Thomson Reuters Corp. 2,694 101,214 Tim Hortons, Inc. 700 41,818 #* Timmins Gold Corp. 3,900 6,247 TMX Group, Ltd. 470 21,434 Toronto-Dominion Bank (The) 7,802 715,599 Torstar Corp. Class B 1,200 6,445 Total Energy Services, Inc. 700 12,393 * Tourmaline Oil Corp. 1,200 46,531 TransAlta Corp. 6,733 90,694 TransCanada Corp. 3,000 135,330 # Transcontinental, Inc. Class A 2,695 43,036 TransForce, Inc. 1,597 35,366 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ ----------- CANADA -- (Continued) * TransGlobe Energy Corp.(893662106) 500 $ 4,535 * TransGlobe Energy Corp.(2470548) 1,000 9,054 # Trican Well Service, Ltd. 5,000 70,254 Trilogy Energy Corp. 1,000 29,339 Trinidad Drilling, Ltd. 4,600 44,560 * Turquoise Hill Resources, Ltd.(900435108) 1,698 8,184 #* Turquoise Hill Resources, Ltd.(B7WJ1F5) 8,100 39,076 # Twin Butte Energy, Ltd. 6,268 13,346 Valener, Inc. 800 11,900 # Veresen, Inc. 3,600 44,540 # Vermilion Energy, Inc. 600 32,979 # Wajax Corp. 900 32,171 West Fraser Timber Co., Ltd. 600 54,996 Western Energy Services Corp. 2,600 19,625 Westshore Terminals Investment Corp. 200 6,585 Whistler Blackcomb Holdings, Inc. 500 6,953 # Whitecap Resources, Inc. 6,155 71,488 Wi-Lan, Inc. 5,600 17,617 Yamana Gold, Inc. 7,196 71,456 # Zargon Oil & Gas, Ltd. 600 4,437 ----------- TOTAL CANADA 14,387,165 ----------- COLOMBIA -- (0.0%) * Platino Energy Corp. 900 518 ----------- DENMARK -- (1.2%) ALK-Abello A.S. 200 19,002 * Alm Brand A.S. 5,886 23,039 Ambu A.S. Class B 156 7,022 * Auriga Industries Class B 487 19,112 * Bavarian Nordic A.S. 1,032 12,549 Chr Hansen Holding A.S. 2,237 82,889 Coloplast A.S. Class B 299 19,502 D/S Norden A.S. 944 41,521 * Danske Bank A.S. 8,406 196,413 Dfds A.S. 74 5,388 DSV A.S. 4,906 143,531 #* East Asiatic Co., Ltd. A.S. 260 4,443 # FLSmidth & Co. A.S. 1,058 52,804 * Genmab A.S. 620 26,937 GN Store Nord A.S. 5,893 134,436 H Lundbeck A.S. 2,480 53,249 IC Companys A.S. 172 4,660 * Jyske Bank A.S. 2,181 123,313 NKT Holding A.S. 515 24,993 Novozymes A.S. Class B 2,034 79,663 Pandora A.S. 1,586 75,600 PER Aarsleff A.S. Class B 239 29,762 Ringkjoebing Landbobank A.S. 163 32,809 Rockwool International A.S. Class B 254 39,951 Schouw & Co. 735 27,411 SimCorp A.S. 1,120 36,667 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ ---------- DENMARK -- (Continued) Solar A.S. Class B 75 $ 4,270 * Spar Nord Bank A.S. 1,503 13,427 * Sydbank A.S. 2,665 78,803 TDC A.S. 12,685 114,585 * Topdanmark A.S. 3,050 83,014 Tryg A.S. 357 32,600 United International Enterprises 84 16,093 #* Vestas Wind Systems A.S. 5,980 160,245 * William Demant Holding A.S. 310 30,698 #* Zealand Pharma A.S. 82 922 ---------- TOTAL DENMARK 1,851,323 ---------- FINLAND -- (1.5%) Aktia Bank Oyj 1,256 13,021 Amer Sports Oyj 3,717 76,263 # Cargotec Oyj 2,056 75,076 * Caverion Corp. 3,326 26,000 Elisa Oyj 2,203 55,193 Finnair Oyj 981 3,744 Fiskars Oyj Abp 1,642 42,036 Fortum Oyj 10,282 229,360 Huhtamaki Oyj 1,991 47,859 Kemira Oyj 4,009 64,369 Kesko Oyj Class A 218 7,505 Kesko Oyj Class B 2,676 88,924 Konecranes Oyj 1,327 44,707 Lassila & Tikanoja Oyj 590 12,371 Metsa Board Oyj 6,782 26,316 Neste Oil Oyj 4,482 88,871 Nokian Renkaat Oyj 1,753 88,660 Oriola-KD Oyj Class B 7,189 23,314 #* Outokumpu Oyj 10,481 5,821 # Outotec Oyj 4,209 41,623 PKC Group Oyj 968 31,570 Pohjola Bank P.L.C. Class A 4,549 82,841 * Poyry Oyj 493 2,611 Raisio P.L.C. Class V 4,905 28,541 Ramirent Oyj 2,442 29,344 Rautaruukki Oyj 4,587 39,674 Sampo Class A 7,907 374,006 # Sanoma Oyj 4,560 39,564 # Stockmann Oyj Abp 832 13,284 Stora Enso Oyj Class R 20,818 193,313 # Technopolis Oyj 2,001 13,580 Tieto Oyj 1,892 41,567 Tikkurila Oyj 677 17,552 UPM-Kymmene Oyj 24,046 381,784 Uponor Oyj 843 16,651 Vacon P.L.C. 88 6,540 Wartsila Oyj Abp 1,200 53,246 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ ---------- FINLAND -- (Continued) YIT Oyj 4,403 $ 57,112 ---------- TOTAL FINLAND 2,483,813 ---------- FRANCE -- (6.8%) Accor SA 1,411 63,066 Aeroports de Paris 251 26,810 Air Liquide SA 836 113,624 Albioma 1,414 34,561 Alten SA 687 31,064 Altran Technologies SA 5,511 48,841 April 1,193 25,364 Arkema SA 1,022 115,624 Assystem 402 10,943 AtoS 1,235 105,272 AXA SA 21,673 539,992 * Beneteau SA 497 9,101 BioMerieux 208 20,877 BNP Paribas SA 11,320 835,112 Boiron SA 290 19,621 Bonduelle SCA 1,111 27,722 Bongrain SA 84 6,144 Bourbon SA 1,518 43,263 * Boursorama 343 3,442 * Bull 1,718 7,586 Bureau Veritas SA 640 19,306 Cap Gemini SA 2,310 151,485 Carrefour SA 4,463 162,911 Casino Guichard Perrachon SA 885 99,478 * CGG 2,028 44,575 Christian Dior SA 198 37,568 Cie de St-Gobain 7,158 375,724 Cie des Alpes 283 5,755 Cie Generale des Etablissements Michelin 3,386 352,814 Ciments Francais SA 155 11,101 * Club Mediterranee SA 316 7,456 CNP Assurances 4,328 76,242 * Credit Agricole SA 20,273 243,753 Danone SA 1,274 94,358 Dassault Systemes SA 406 49,323 * Derichebourg SA 1,773 6,196 Edenred 4,004 135,926 Eiffage SA 1,139 67,501 Electricite de France SA 2,354 82,385 # Eramet 67 6,362 Essilor International SA 1,049 112,416 Esso SA Francaise 70 4,505 Etablissements Maurel et Prom 2,968 47,784 Euler Hermes SA 603 79,611 European Aeronautic Defence and Space Co. NV 1,233 84,491 Eutelsat Communications SA 990 31,312 Faiveley Transport SA 121 9,443 * Faurecia 2,148 62,601 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- FRANCE -- (Continued) Fimalac 134 $ 8,318 GDF Suez 15,034 372,599 GL Events 119 2,570 Groupe Eurotunnel SA 16,849 163,113 * Groupe Fnac 60 1,677 Groupe Steria SCA 490 9,054 * Haulotte Group SA 1,255 15,296 Havas SA 8,233 68,461 Iliad SA 110 25,123 Imerys SA 1,002 80,380 Interparfums SA 141 5,553 Ipsen SA 120 5,256 IPSOS 1,229 51,734 Jacquet Metal Service 1,075 18,062 JCDecaux SA 1,491 59,760 Kering 242 54,845 Korian 75 2,343 L'Oreal SA 556 94,935 Lagardere SCA 3,329 120,940 Legrand SA 1,138 64,497 LISI 167 25,775 LVMH Moet Hennessy Louis Vuitton SA 791 151,868 # Manitou BF SA 323 6,084 Medica SA 617 15,855 Mersen 323 11,815 Metropole Television SA 1,582 36,391 Montupet 560 21,036 Natixis 22,875 123,013 Naturex 174 13,735 # Neopost SA 832 62,817 # Nexans SA 923 41,038 Nexity SA 921 36,061 Norbert Dentressangle SA 126 14,292 * NRJ Group 172 1,658 Orange 19,938 274,069 Orpea 1,027 55,393 * Parrot SA 437 12,179 #* Peugeot SA 8,091 106,437 Plastic Omnium SA 1,239 35,397 Publicis Groupe SA 927 77,089 Rallye SA 1,010 42,982 Rexel SA 4,257 106,607 Rubis SCA 761 47,507 Sa des Ciments Vicat 563 42,067 Saft Groupe SA 1,062 33,676 SCOR SE 5,702 201,257 SEB SA 552 49,529 SES SA 2,071 60,237 Societe BIC SA 264 32,967 Societe d'Edition de Canal + 2,883 23,772 Societe Generale SA 7,102 401,188 Societe Television Francaise 1 4,190 80,733 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ ----------- FRANCE -- (Continued) Sodexo 440 $ 42,692 #* SOITEC 9,334 21,097 * Solocal Group 2,755 6,418 Sopra Group SA 71 6,206 * Ste Industrielle d'Aviation Latecoere SA 777 13,962 Stef 175 11,764 STMicroelectronics NV(5962332) 19,533 150,248 STMicroelectronics NV(861012102) 3,197 24,521 Suez Environnement Co. 4,751 82,845 Technip SA 870 91,123 Teleperformance 1,878 99,412 Tessi SA 32 4,372 Thermador Groupe 80 7,155 Total Gabon 20 12,834 Total SA 10,657 653,838 # Total SA Sponsored ADR 6,978 426,914 * Trigano SA 1,173 24,896 * UBISOFT Entertainment 3,630 46,564 Valeo SA 1,785 176,589 Vallourec SA 3,680 219,040 Veolia Environnement SA 4,105 70,424 Veolia Environnement SA ADR 1,130 19,447 Vilmorin & Cie 173 20,374 Vinci SA 3,877 248,074 Virbac SA 20 4,023 Vivendi SA 14,098 356,957 Zodiac Aerospace 718 114,885 ----------- TOTAL FRANCE 10,976,125 ----------- GERMANY -- (5.8%) * Aareal Bank AG 1,624 62,285 Adidas AG 1,511 172,172 * ADVA Optical Networking SE 893 4,767 * Aixtron SE NA 2,254 32,350 Allianz SE 5,326 894,248 Aurubis AG 720 45,364 Axel Springer AG 1,723 103,966 BASF SE 3,395 352,450 Bayerische Motoren Werke AG 2,965 335,574 BayWa AG 473 24,089 Bechtle AG 510 32,705 Bertrandt AG 60 7,847 Bijou Brigitte AG 144 15,174 Bilfinger SE 1,459 161,906 Borussia Dortmund GmbH & Co. KGaA 655 3,383 Brenntag AG 284 48,055 CANCOM SE 323 12,386 Carl Zeiss Meditec AG 484 15,288 CAT Oil AG 1,276 31,136 # Celesio AG 3,394 105,519 CENTROTEC Sustainable AG 278 6,912 Cewe Stiftung & Co. KGAA 251 14,035 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- GERMANY -- (Continued) Comdirect Bank AG 2,126 $ 24,163 * Commerzbank AG 19,407 248,208 CompuGroup Medical AG 101 2,631 Continental AG 336 61,443 CropEnergies AG 700 6,549 CTS Eventim AG 140 6,825 # Deutsche Bank AG 10,685 516,299 Deutsche Boerse AG 1,175 88,392 Deutsche Telekom AG 27,315 429,247 # Deutsche Wohnen AG 4,275 80,399 #* Dialog Semiconductor P.L.C. 2,684 51,570 DMG MORI SEIKI AG 2,143 70,444 Draegerwerk AG & Co. KGaA 215 21,278 Drillisch AG 1,920 49,480 Duerr AG 270 23,630 E.ON SE 19,836 361,580 Eckert & Ziegler AG 144 5,858 ElringKlinger AG 1,047 44,518 Euromicron AG 154 3,650 #* Evotec AG 4,707 27,536 Fielmann AG 192 21,472 Fraport AG Frankfurt Airport Services Worldwide 925 71,561 Freenet AG 3,538 91,899 Fresenius Medical Care AG & Co. KGaA 3,768 249,013 Fuchs Petrolub SE 247 16,792 GEA Group AG 3,525 153,206 Gerresheimer AG 1,260 83,347 Gesco AG 44 4,475 GFK SE 320 18,712 Grammer AG 258 12,005 * GSW Immobilien AG 1,038 48,270 * H&R AG 304 3,680 Hamburger Hafen und Logistik AG 1,013 25,421 Hannover Rueck SE 2,054 164,385 HeidelbergCement AG 3,142 247,400 #* Heidelberger Druckmaschinen AG 12,760 34,112 Henkel AG & Co. KGaA 450 41,503 Hochtief AG 1,028 92,977 Homag Group AG 206 4,973 Hornbach Baumarkt AG 417 14,987 Hugo Boss AG 159 20,712 Indus Holding AG 721 25,909 Infineon Technologies AG 20,106 194,512 Jenoptik AG 1,909 33,350 # K+S AG 3,211 81,590 * Kloeckner & Co. SE 3,589 50,624 Koenig & Bauer AG 107 2,042 Kontron AG 1,056 7,223 Krones AG 470 41,138 # KUKA AG 271 12,334 Lanxess AG 661 46,423 Leoni AG 1,083 73,302 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- GERMANY -- (Continued) Linde AG 1,730 $ 328,398 * Manz AG 353 25,480 Metro AG 2,111 98,976 MLP AG 1,362 8,498 MTU Aero Engines AG 675 67,319 Muenchener Rueckversicherungs AG 1,970 411,006 MVV Energie AG 175 5,790 * Nordex SE 2,243 39,312 Norma Group SE 800 40,008 * Patrizia Immobilien AG 985 9,226 Pfeiffer Vacuum Technology AG 449 52,282 PNE Wind AG 2,501 9,898 # Puma SE 124 36,889 * QIAGEN NV(5732825) 2,145 49,230 * QIAGEN NV(N72482107) 526 12,182 QSC AG 4,310 26,809 # R Stahl AG 104 5,034 RWE AG 12,966 477,694 * SAF-Holland SA 1,876 26,669 Salzgitter AG 1,246 54,836 SAP AG 1,424 111,431 SAP AG Sponsored ADR 555 43,484 # SGL Carbon SE 579 22,579 Sixt SE 330 9,944 * Sky Deutschland AG 4,942 48,703 # SMA Solar Technology AG 616 25,110 Software AG 1,336 49,469 #* Solarworld AG 2,893 3,085 Stada Arzneimittel AG 774 44,491 * Stroeer Media AG 1,459 25,207 Suedzucker AG 725 23,322 * Suss Microtec AG 1,897 20,117 Symrise AG 1,232 52,162 Takkt AG 989 19,638 * ThyssenKrupp AG 3,078 78,530 #* Tom Tailor Holding AG 934 21,288 #* TUI AG 6,293 83,371 United Internet AG 1,839 72,542 Vossloh AG 252 25,994 VTG AG 652 13,598 # Wacker Chemie AG 638 59,913 Wacker Neuson SE 532 8,172 Wincor Nixdorf AG 513 33,919 ---------- TOTAL GERMANY 9,276,265 ---------- HONG KONG -- (3.0%) AAC Technologies Holdings, Inc. 7,500 32,953 # AIA Group, Ltd. 90,200 458,020 ASM Pacific Technology, Ltd. 2,500 24,128 # Bank of East Asia, Ltd. 22,200 96,209 BOC Hong Kong Holdings, Ltd. 24,500 79,696 * Brightoil Petroleum Holdings, Ltd. 139,000 23,841 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- HONG KONG -- (Continued) Cafe de Coral Holdings, Ltd. 2,000 $ 6,877 Cathay Pacific Airways, Ltd. 19,000 37,639 Cheung Kong Holdings, Ltd. 15,000 234,642 Cheung Kong Infrastructure Holdings, Ltd. 6,000 41,752 Chevalier International Holdings, Ltd. 4,000 7,035 # Chong Hing Bank, Ltd. 3,000 13,514 Chow Sang Sang Holdings International, Ltd. 14,000 45,404 Chow Tai Fook Jewellery Group, Ltd. 20,600 34,160 CITIC Telecom International Holdings, Ltd. 58,000 18,026 CK Life Sciences International Holdings, Inc. 64,000 5,940 CLP Holdings, Ltd. 6,000 48,322 CSI Properties, Ltd. 390,000 13,566 Dah Sing Banking Group, Ltd. 9,200 17,328 Dah Sing Financial Holdings, Ltd. 4,000 24,986 Dorsett Hospitality International, Ltd. 46,000 10,083 Emperor Watch & Jewellery, Ltd. 130,000 10,406 Esprit Holdings, Ltd. 69,600 128,331 Far East Consortium International, Ltd. 34,000 11,234 * FIH Mobile, Ltd. 85,000 47,770 First Pacific Co., Ltd. 80,000 90,963 #* G-Resources Group, Ltd. 831,600 24,853 # Giordano International, Ltd. 36,000 33,769 Hang Lung Group, Ltd. 17,000 89,711 Hang Lung Properties, Ltd. 46,000 151,484 Hang Seng Bank, Ltd. 2,300 38,425 HKR International, Ltd. 18,400 8,998 Hong Kong & China Gas Co., Ltd. 13,200 30,767 Hong Kong Aircraft Engineering Co., Ltd. 1,600 21,457 # Hong Kong Exchanges and Clearing, Ltd. 5,177 83,716 Hongkong & Shanghai Hotels (The) 21,000 33,048 Hongkong Chinese, Ltd. 30,000 6,662 Hopewell Holdings, Ltd. 25,500 86,041 Hutchison Telecommunications Hong Kong Holdings, Ltd. 80,000 35,415 Hutchison Whampoa, Ltd. 19,000 236,630 Hysan Development Co., Ltd. 12,000 56,211 # IT, Ltd. 12,000 3,652 Johnson Electric Holdings, Ltd. 47,500 34,189 K Wah International Holdings, Ltd. 74,000 40,580 Kerry Properties, Ltd. 14,000 60,892 Kowloon Development Co., Ltd. 11,000 13,579 L'Occitane International SA 14,750 33,456 * Lai Sun Development 404,000 11,569 Li & Fung, Ltd. 40,000 56,241 Lifestyle International Holdings, Ltd. 14,500 31,599 * Lifestyle Properties Development, Ltd. 725 147 Liu Chong Hing Investment 4,000 8,884 # Luk Fook Holdings International, Ltd. 11,000 39,128 Magnificent Estates 102,000 4,938 Man Wah Holdings, Ltd. 19,600 33,679 Melco International Development, Ltd. 22,000 69,198 # Midland Holdings, Ltd. 16,000 6,520 Miramar Hotel & Investment 4,000 5,130 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- HONG KONG -- (Continued) #* Mongolian Mining Corp. 36,000 $ 5,945 MTR Corp., Ltd. 16,000 61,880 New World Development Co., Ltd. 83,000 115,036 Newocean Energy Holdings, Ltd. 58,000 35,466 NWS Holdings, Ltd. 38,000 59,537 Orient Overseas International, Ltd. 8,500 43,903 Pacific Basin Shipping, Ltd. 79,000 56,533 Pacific Textile Holdings, Ltd. 8,000 10,959 PCCW, Ltd. 97,000 43,925 Pico Far East Holdings, Ltd. 32,000 10,120 Power Assets Holdings, Ltd. 4,000 33,273 Prada SpA 2,500 24,359 Regal Hotels International Holdings, Ltd. 12,000 6,563 SA SA International Holdings, Ltd. 32,000 35,033 Samsonite International SA 5,700 15,544 SEA Holdings, Ltd. 8,000 4,541 Shangri-La Asia, Ltd. 48,000 88,306 Shun Tak Holdings, Ltd. 46,000 26,647 Singamas Container Holdings, Ltd. 136,000 31,565 Sino Land Co., Ltd. 48,000 67,320 # SmarTone Telecommunications Holdings, Ltd. 2,500 3,293 SOCAM Development, Ltd. 12,000 14,270 Soundwill Holdings, Ltd. 6,000 10,758 Stella International Holdings, Ltd. 13,500 33,322 Sun Hung Kai & Co., Ltd. 28,000 15,763 Sun Hung Kai Properties, Ltd. 19,000 248,386 Swire Properties, Ltd. 5,400 14,627 Techtronic Industries Co. 23,500 59,080 Television Broadcasts, Ltd. 10,600 61,906 Texwinca Holdings, Ltd. 28,000 28,606 Transport International Holdings, Ltd. 4,000 9,007 Trinity, Ltd. 32,000 11,962 #* United Laboratories International Holdings, Ltd. (The) 10,000 4,218 Value Partners Group, Ltd. 27,000 16,387 Varitronix International, Ltd. 6,000 5,334 Vitasoy International Holdings, Ltd. 6,000 7,737 VTech Holdings, Ltd. 2,800 39,983 Wharf Holdings, Ltd. 20,000 169,078 # Wheelock & Co., Ltd. 25,000 127,905 Wing Hang Bank, Ltd. 6,000 85,093 Xinyi Glass Holdings, Ltd. 44,000 43,634 Yue Yuen Industrial Holdings, Ltd. 24,000 65,901 ---------- TOTAL HONG KONG 4,806,098 ---------- IRELAND -- (0.5%) * Bank of Ireland 687,337 251,211 CRH P.L.C. Sponsored ADR 10,427 255,253 Dragon Oil P.L.C. 3,847 36,239 * Elan Corp. P.L.C. Sponsored ADR 1,403 23,374 FBD Holdings P.L.C. 1,219 26,297 Glanbia P.L.C. 2,349 32,880 Kerry Group P.L.C. Class A 714 45,728 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- IRELAND -- (Continued) Kingspan Group P.L.C. 4,151 $ 69,421 Smurfit Kappa Group P.L.C. 5,912 143,109 -------- TOTAL IRELAND 883,512 -------- ISRAEL -- (0.5%) Azrieli Group 1,007 32,286 Bank Hapoalim BM 18,302 97,979 * Bank Leumi Le-Israel BM 19,652 74,804 Bezeq The Israeli Telecommunication Corp., Ltd. 5,764 10,022 * Cellcom Israel, Ltd. 1,000 11,500 * Ceragon Networks, Ltd. 170 590 Clal Industries, Ltd. 6,007 26,773 Clal Insurance Enterprises Holdings, Ltd. 937 18,363 Delek Group, Ltd. 43 14,848 Delta-Galil Industries, Ltd. 290 6,841 * Evogene, Ltd. 682 5,549 * EZchip Semiconductor, Ltd. 197 5,102 First International Bank Of Israel, Ltd. 589 9,665 Formula Systems 1985, Ltd. 217 5,635 Frutarom Industries, Ltd. 938 16,806 Harel Insurance Investments & Financial Services, Ltd. 3,020 17,709 Israel Chemicals, Ltd. 1,274 10,533 * Israel Discount Bank, Ltd. Class A 23,359 46,614 * Jerusalem Oil Exploration 404 14,920 Matrix IT, Ltd. 1,225 6,445 Melisron, Ltd. 178 4,711 Menorah Mivtachim Holdings, Ltd. 256 2,947 Migdal Insurance & Financial Holding, Ltd. 16,725 29,196 Mizrahi Tefahot Bank, Ltd. 4,029 47,228 * Naphtha Israel Petroleum Corp., Ltd. 779 5,018 NICE Systems, Ltd. Sponsored ADR 1,644 64,412 * Nitsba Holdings 1995, Ltd. 2,195 30,738 * Oil Refineries, Ltd. 18,872 6,100 * Ormat Industries 4,679 31,632 Osem Investments, Ltd. 1,244 27,442 * Partner Communications Co., Ltd. ADR 1,321 10,727 * Paz Oil Co., Ltd. 95 14,747 Phoenix Holdings, Ltd. (The) 361 1,419 Shikun & Binui, Ltd. 4,701 11,247 Shufersal, Ltd. 1,106 4,462 Strauss Group, Ltd. 221 3,897 * Tower Semiconductor, Ltd. 392 1,910 -------- TOTAL ISRAEL 730,817 -------- ITALY -- (2.4%) A2A SpA 74,756 84,113 ACEA SpA 912 9,489 Ansaldo STS SpA 3,307 35,092 * Arnoldo Mondadori Editore SpA 3,717 7,929 Assicurazioni Generali SpA 4,430 103,569 Astaldi SpA 2,260 22,016 Atlantia SpA 2,072 45,412 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- ITALY -- (Continued) * Autogrill SpA 2,150 $ 19,300 Azimut Holding SpA 2,220 56,315 #* Banca Carige SpA 15,904 12,716 Banca Generali SpA 1,522 39,732 Banca IFIS SpA 731 10,973 #* Banca Monte dei Paschi di Siena SpA 114,184 35,999 * Banca Piccolo Credito Valtellinese Scarl 3,267 5,846 * Banca Popolare dell'Emilia Romagna S.c.r.l. 8,733 83,901 #* Banca Popolare di Milano Scarl 82,712 55,252 Banca Popolare di Sondrio Scarl 7,030 40,463 * Banco Popolare 80,179 159,283 # Buzzi Unicem SpA 3,064 53,048 * CIR-Compagnie Industriali Riunite SpA 11,847 19,706 Credito Emiliano SpA 3,017 22,809 Danieli & C Officine Meccaniche SpA 176 5,410 De'Longhi SpA 377 5,822 # DiaSorin SpA 699 33,082 Ei Towers SpA 425 17,767 Enel Green Power SpA 11,852 28,831 # Enel SpA 19,324 85,256 Engineering SpA 60 3,268 # Eni SpA 2,365 60,040 # Eni SpA Sponsored ADR 3,509 178,257 ERG SpA 2,876 35,122 Esprinet SpA 4,821 35,045 * Falck Renewables SpA 15,891 27,061 * Fiat SpA 15,837 124,269 * Gemina SpA 5,234 12,699 # Geox SpA 1,759 4,817 # Hera SpA 19,798 39,888 Indesit Co. SpA 810 8,365 Interpump Group SpA 2,420 26,913 Intesa Sanpaolo SpA 141,596 351,282 Iren SpA 33,491 50,075 Italcementi SpA 3,851 34,249 Luxottica Group SpA Sponsored ADR 763 41,103 MARR SpA 532 8,365 * Mediaset SpA 15,421 77,008 Mediobanca SpA 16,016 145,929 Mediolanum SpA 2,971 25,855 Parmalat SpA 10,626 35,741 Piaggio & C SpA 8,440 24,356 # Pirelli & C. SpA 3,057 43,003 Prysmian SpA 3,088 75,431 Recordati SpA 658 8,643 Reply SpA 331 21,550 * Safilo Group SpA 1,749 35,756 Saipem SpA 356 8,328 Salvatore Ferragamo Italia SpA 247 8,456 #* Saras SpA 671 830 Snam SpA 14,621 75,335 Societa Cattolica di Assicurazioni S.c.r.l. 2,138 54,128 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- ITALY -- (Continued) Societa Iniziative Autostradali e Servizi SpA 1,848 $ 19,360 * Sorin SpA 8,039 22,147 Telecom Italia SpA 191,858 187,166 Tenaris SA 801 18,739 Tenaris SA ADR 440 20,596 Terna Rete Elettrica Nazionale SpA 8,181 40,499 Tod's SpA 216 35,945 Trevi Finanziaria Industriale SpA 744 6,841 # UniCredit SpA 56,311 422,703 Unione di Banche Italiane SCPA 34,851 240,870 Unipol Gruppo Finanziario SpA 13,540 71,794 Vittoria Assicurazioni SpA 823 9,781 * World Duty Free SpA 2,150 23,820 * Yoox SpA 272 9,785 ---------- TOTAL ITALY 3,910,344 ---------- JAPAN -- (19.5%) 77 Bank, Ltd. (The) 14,000 69,242 A.S. One Corp. 800 17,662 Accordia Golf Co., Ltd. 3,100 34,023 Achilles Corp. 4,000 6,638 Adastria Holdings Co., Ltd. 490 22,947 ADEKA Corp. 3,000 35,276 # Advantest Corp. 1,900 22,739 Aeon Co., Ltd. 8,900 121,453 Aeon Delight Co., Ltd. 300 5,830 Ai Holdings Corp. 800 10,251 Aica Kogyo Co., Ltd. 1,900 38,896 Aichi Bank, Ltd. (The) 400 18,179 Aichi Steel Corp. 4,000 20,503 Aida Engineering, Ltd. 800 7,733 Ain Pharmaciez, Inc. 300 13,013 Aiphone Co., Ltd. 300 4,913 Air Water, Inc. 4,000 57,177 Aisan Industry Co., Ltd. 1,800 18,133 Aisin Seiki Co., Ltd. 1,500 60,937 Ajinomoto Co., Inc. 9,000 125,937 Akita Bank, Ltd. (The) 9,000 22,596 Alfresa Holdings Corp. 900 49,191 Alpen Co., Ltd. 300 6,243 Alpine Electronics, Inc. 600 7,264 * Alps Electric Co., Ltd. 7,300 64,062 Amada Co., Ltd. 11,000 94,628 Amano Corp. 2,500 24,493 ANA Holdings, Inc. 6,000 12,536 Anritsu Corp. 2,000 26,224 AOKI Holdings, Inc. 400 13,305 Aomori Bank, Ltd. (The) 12,000 31,300 Aoyama Trading Co., Ltd. 1,800 45,896 Aozora Bank, Ltd. 21,000 61,048 Arata Corp. 1,000 3,540 Arcs Co., Ltd. 1,800 33,739 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- JAPAN -- (Continued) #* Arnest One Corp. 1,000 $ 27,459 Asahi Diamond Industrial Co., Ltd. 3,200 31,064 Asahi Glass Co., Ltd. 16,000 98,816 Asahi Holdings, Inc. 300 4,946 Asahi Kasei Corp. 20,000 152,212 Asatsu-DK, Inc. 1,400 38,475 Asics Corp. 1,400 24,683 Autobacs Seven Co., Ltd. 2,100 30,619 # Avex Group Holdings, Inc. 900 22,806 Awa Bank, Ltd. (The) 4,000 20,890 Axial Retailing, Inc. 300 4,881 Azbil Corp. 1,700 40,961 Bando Chemical Industries, Ltd. 2,000 7,804 # Bank of Iwate, Ltd. (The) 800 36,333 Bank of Kyoto, Ltd. (The) 9,000 79,302 Bank of Nagoya, Ltd. (The) 6,000 20,576 Bank of Okinawa, Ltd. (The) 700 27,093 Bank of Saga, Ltd. (The) 4,000 8,596 Bank of the Ryukyus, Ltd. 2,400 26,191 Bank of Yokohama, Ltd. (The) 27,000 148,885 # Benesse Holdings, Inc. 1,000 37,272 BML, Inc. 200 6,833 Brother Industries, Ltd. 3,200 36,359 Bunka Shutter Co., Ltd. 4,000 22,428 C Uyemura & Co., Ltd. 300 12,717 Calbee, Inc. 400 10,496 Calsonic Kansei Corp. 8,000 38,462 Canon Electronics, Inc. 500 9,346 Canon Marketing Japan, Inc. 1,900 25,454 Canon, Inc. 3,400 107,293 # Casio Computer Co., Ltd. 6,500 62,214 Central Glass Co., Ltd. 10,000 34,779 Central Japan Railway Co. 500 64,836 Century Tokyo Leasing Corp. 1,300 41,126 Chiba Bank, Ltd. (The) 15,000 106,933 * Chiba Kogyo Bank, Ltd. (The) 1,000 7,622 Chiyoda Co., Ltd. 1,200 26,339 Chiyoda Corp. 2,000 25,362 Chiyoda Integre Co., Ltd. 500 8,659 Chori Co., Ltd. 500 5,979 Chubu Electric Power Co., Inc. 3,200 47,370 Chubu Shiryo Co., Ltd. 800 4,654 Chuetsu Pulp & Paper Co., Ltd. 2,000 3,240 Chugai Pharmaceutical Co., Ltd. 400 9,399 # Chugai Ro Co., Ltd. 2,000 5,234 Chugoku Bank, Ltd. (The) 5,000 71,882 Chugoku Electric Power Co., Inc. (The) 2,400 36,789 Chugoku Marine Paints, Ltd. 3,000 17,138 Chukyo Bank, Ltd. (The) 5,000 9,019 Citizen Holdings Co., Ltd. 8,800 62,785 CKD Corp. 1,000 9,283 CMK Corp. 1,500 4,323 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- JAPAN -- (Continued) Coca-Cola Central Japan Co., Ltd. 1,174 $ 20,792 Coca-Cola West Co., Ltd. 2,000 40,566 Cocokara fine, Inc. 200 5,697 COMSYS Holdings Corp. 3,700 51,370 Cosel Co., Ltd. 400 5,008 #* Cosmo Oil Co., Ltd. 27,000 47,542 Cosmos Pharmaceutical Corp. 100 12,183 CREATE SD HOLDINGS Co., Ltd. 400 14,582 Dai Nippon Printing Co., Ltd. 12,000 126,072 Dai Nippon Toryo Co., Ltd. 7,000 11,876 Dai-ichi Life Insurance Co., Ltd. (The) 9,000 128,482 # Daibiru Corp. 1,000 12,744 # Daicel Corp. 7,000 59,001 Daido Metal Co., Ltd. 1,000 10,490 Daido Steel Co., Ltd. 9,000 51,753 #* Daiei, Inc. (The) 2,700 9,362 Daifuku Co., Ltd. 4,000 51,437 Daihen Corp. 2,000 8,545 Daiichikosho Co., Ltd. 1,300 37,148 Daikin Industries, Ltd. 800 46,027 Daikyo, Inc. 5,000 15,532 Dainichiseika Color & Chemicals Manufacturing Co., Ltd. 5,000 20,798 Dainippon Sumitomo Pharma Co., Ltd. 3,400 45,751 Daio Paper Corp. 2,000 14,807 Daisan Bank, Ltd. (The) 4,000 6,556 Daiseki Co., Ltd. 400 7,856 Daishi Bank, Ltd. (The) 6,000 20,947 Daiso Co., Ltd. 2,000 6,070 Daito Trust Construction Co., Ltd. 300 30,631 Daiwa House Industry Co., Ltd. 3,000 60,101 Daiwa Securities Group, Inc. 5,000 45,669 Daiwabo Holdings Co., Ltd. 33,000 63,241 DCM Holdings Co., Ltd. 3,900 27,249 # Dena Co., Ltd. 1,400 30,506 Denki Kagaku Kogyo KK 14,000 58,712 Denso Corp. 2,100 100,944 Dentsu, Inc. 2,300 86,899 Denyo Co., Ltd. 500 6,160 Descente, Ltd. 1,000 7,318 DIC Corp. 14,000 40,532 # Disco Corp. 500 31,597 # DMG Mori Seiki Co., Ltd. 3,000 48,666 Don Quijote Co., Ltd. 500 33,283 Doshisha Co., Ltd. 400 5,801 Doutor Nichires Holdings Co., Ltd. 1,500 27,244 Dowa Holdings Co., Ltd. 3,000 28,313 # Dr Ci:Labo Co., Ltd. 2 6,620 DTS Corp. 400 6,849 Dunlop Sports Co., Ltd. 400 4,979 Duskin Co., Ltd. 1,600 32,521 Eagle Industry Co., Ltd. 1,000 16,070 East Japan Railway Co. 1,200 104,245 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- JAPAN -- (Continued) Ebara Corp. 13,000 $ 69,892 # EDION Corp. 1,200 6,007 Ehime Bank, Ltd. (The) 2,000 4,811 Eighteenth Bank, Ltd. (The) 2,000 4,607 Eiken Chemical Co., Ltd. 400 7,425 Electric Power Development Co., Ltd. 500 15,979 # EPS Corp. 4 4,156 Exedy Corp. 1,000 29,700 Ezaki Glico Co., Ltd. 4,000 44,439 Fancl Corp. 1,300 15,460 FANUC Corp. 500 80,204 Fast Retailing Co., Ltd. 100 33,661 FCC Co., Ltd. 1,400 31,983 FIDEA Holdings Co., Ltd. 1,300 2,565 Foster Electric Co., Ltd. 500 9,783 FP Corp. 300 23,181 Fuji Co. Ltd/Ehime 400 7,198 Fuji Electric Co., Ltd. 17,000 76,210 Fuji Heavy Industries, Ltd. 1,000 27,342 # Fuji Kyuko Co., Ltd. 1,000 8,285 Fuji Media Holdings, Inc. 1,700 33,890 Fuji Oil Co. Ltd/Osaka 2,100 38,272 Fuji Seal International, Inc. 1,100 33,193 Fuji Soft, Inc. 1,100 21,871 Fujibo Holdings, Inc. 9,000 18,339 FUJIFILM Holdings Corp. 4,600 112,533 Fujikura, Ltd. 13,000 59,321 Fujimori Kogyo Co., Ltd. 200 5,953 Fujitec Co., Ltd. 4,000 49,186 Fujitsu General, Ltd. 1,000 12,116 * Fujitsu, Ltd. 32,000 137,479 Fukui Bank, Ltd. (The) 4,000 8,724 Fukuoka Financial Group, Inc. 19,000 85,699 Fukushima Bank, Ltd. (The) 8,000 7,100 # Fukuyama Transporting Co., Ltd. 6,000 38,351 # Furukawa Electric Co., Ltd. 21,000 48,673 Fuso Pharmaceutical Industries, Ltd. 1,000 3,189 # Geo Holdings Corp. 1,000 9,322 Glory, Ltd. 1,600 39,675 Goldcrest Co., Ltd. 1,000 26,754 # Gree, Inc. 3,400 29,242 GS Yuasa Corp. 12,000 72,076 # Gun-Ei Chemical Industry Co., Ltd. 1,000 4,949 #* GungHo Online Entertainment, Inc. 20 12,621 Gunma Bank, Ltd. (The) 12,000 69,434 Gunze, Ltd. 5,000 13,354 H2O Retailing Corp. 5,000 42,488 Hachijuni Bank, Ltd. (The) 12,000 74,131 Hakuhodo DY Holdings, Inc. 3,600 27,843 Hamakyorex Co., Ltd. 200 5,534 Hamamatsu Photonics KK 1,200 44,903 Hankyu Hanshin Holdings, Inc. 14,000 78,524 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ ------- JAPAN -- (Continued) Hanwa Co., Ltd. 5,000 $23,263 * Haseko Corp. 1,000 7,412 # Hazama Ando Corp. 10,400 38,427 Heiwa Real Estate Co., Ltd. 1,400 25,358 Heiwado Co., Ltd. 400 6,238 HI-LEX Corp. 1,300 28,015 # Hibiya Engineering, Ltd. 1,300 15,814 Higashi-Nippon Bank, Ltd. (The) 5,000 11,035 Higo Bank, Ltd. (The) 7,000 39,848 Hikari Tsushin, Inc. 100 7,410 Hioki EE Corp. 300 4,283 # Hiroshima Bank, Ltd. (The) 18,000 76,606 Hisamitsu Pharmaceutical Co., Inc. 100 5,411 Hitachi Koki Co., Ltd. 1,600 11,728 Hitachi Kokusai Electric, Inc. 1,000 13,435 Hitachi Zosen Corp. 6,100 48,503 Hogy Medical Co., Ltd. 600 34,911 * Hokkaido Electric Power Co., Inc. 2,300 29,629 Hokkoku Bank, Ltd. (The) 13,000 48,046 Hokuetsu Bank, Ltd. (The) 10,000 20,740 # Hokuetsu Kishu Paper Co., Ltd. 7,000 32,615 Hokuhoku Financial Group, Inc. 48,000 98,974 Hokuriku Electric Power Co. 2,300 32,760 Hokuto Corp. 1,700 32,613 Honeys Co., Ltd. 950 10,417 Horiba, Ltd. 1,300 47,503 Hoshizaki Electric Co., Ltd. 200 7,329 Hosiden Corp. 4,400 24,050 Hosokawa Micron Corp. 1,000 7,115 House Foods Group, Inc. 1,900 30,095 Hoya Corp. 2,900 69,540 Hyakugo Bank, Ltd. (The) 9,000 36,596 Hyakujushi Bank, Ltd. (The) 6,000 21,865 Ibiden Co., Ltd. 4,700 81,477 # Ichigo Group Holdings Co., Ltd. 6,600 27,375 Idec Corp. 2,000 17,959 Idemitsu Kosan Co., Ltd. 600 50,228 # Ihara Chemical Industry Co., Ltd. 3,000 22,553 IHI Corp. 7,000 29,640 Iino Kaiun Kaisha, Ltd. 3,300 21,733 Inaba Denki Sangyo Co., Ltd. 1,100 33,113 Inabata & Co., Ltd. 800 7,846 Inageya Co., Ltd. 100 1,033 Ines Corp. 3,800 25,168 Inpex Corp. 4,000 46,208 Internet Initiative Japan, Inc. 600 16,839 Iriso Electronics Co., Ltd. 200 7,882 Iseki & Co., Ltd. 7,000 22,760 Isetan Mitsukoshi Holdings, Ltd. 4,500 68,198 * Ishihara Sangyo Kaisha, Ltd. 18,000 16,695 IT Holdings Corp. 3,500 50,275 Ito En, Ltd. 300 6,742 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- JAPAN -- (Continued) ITOCHU Corp. 12,900 $155,111 Itochu Enex Co., Ltd. 1,000 5,449 # Itochu Techno-Solutions Corp. 1,000 39,230 Itoham Foods, Inc. 1,000 4,215 Itoki Corp. 2,100 10,649 Iwai Cosmo Holdings, Inc. 1,900 23,834 Iwatani Corp. 9,000 41,450 Iyo Bank, Ltd. (The) 8,000 83,534 Izumi Co., Ltd. 600 19,514 Izumiya Co., Ltd. 4,000 18,888 J Front Retailing Co., Ltd. 7,000 54,470 J-Oil Mills, Inc. 1,000 3,159 Japan Airport Terminal Co., Ltd. 500 12,124 Japan Aviation Electronics Industry, Ltd. 1,000 10,068 Japan Digital Laboratory Co., Ltd. 500 5,968 Japan Exchange Group, Inc. 1,500 34,872 Japan Pulp & Paper Co., Ltd. 2,000 6,460 Japan Steel Works, Ltd. (The) 8,000 44,692 Japan Wool Textile Co., Ltd. (The) 3,000 23,630 JFE Holdings, Inc. 5,700 129,588 JGC Corp. 1,000 38,264 Joshin Denki Co., Ltd. 2,000 16,285 Joyo Bank, Ltd. (The) 6,000 31,165 JSP Corp. 400 6,363 JSR Corp. 3,600 68,573 JTEKT Corp. 4,800 61,624 Juroku Bank, Ltd. (The) 5,000 19,576 JVC Kenwood Corp. 5,000 9,794 JX Holdings, Inc. 24,700 122,133 K's Holdings Corp. 1,500 44,044 # Kadokawa Corp. 1,100 40,132 Kaga Electronics Co., Ltd. 1,200 12,074 Kagoshima Bank, Ltd. (The) 5,000 33,657 Kajima Corp. 16,000 67,909 Kamei Corp. 1,000 7,446 Kamigumi Co., Ltd. 11,000 95,682 Kanamoto Co., Ltd. 1,000 27,011 Kandenko Co., Ltd. 6,000 37,913 # Kaneka Corp. 11,000 69,801 Kanematsu Corp. 12,000 16,278 Kanematsu Electronics, Ltd. 500 6,512 * Kansai Electric Power Co., Inc. (The) 3,100 39,237 Kansai Paint Co., Ltd. 3,000 40,311 Kansai Urban Banking Corp. 12,000 14,302 Kanto Natural Gas Development, Ltd. 1,000 7,050 Kao Corp. 1,500 49,955 # Kasumi Co., Ltd. 800 4,936 Katakura Industries Co., Ltd. 600 7,118 Kato Sangyo Co., Ltd. 300 6,158 Kato Works Co., Ltd. 2,000 13,712 # Kawasaki Heavy Industries, Ltd. 19,000 74,243 Kawasaki Kisen Kaisha, Ltd. 32,000 73,358 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- JAPAN -- (Continued) KDDI Corp. 1,700 $ 92,066 Keihan Electric Railway Co., Ltd. 14,000 57,592 Keihin Corp. 2,100 34,310 Keikyu Corp. 4,000 37,652 Keio Corp. 3,000 20,785 Keisei Electric Railway Co., Ltd. 1,000 10,327 Keiyo Bank, Ltd. (The) 7,000 35,649 #* Kenedix, Inc. 5,600 28,935 Kewpie Corp. 3,000 45,138 KEY Coffee, Inc. 1,600 25,340 Keyence Corp. 100 42,859 Kikkoman Corp. 2,000 36,451 Kinden Corp. 1,000 10,983 # Kintetsu Corp. 8,000 29,441 Kintetsu World Express, Inc. 200 7,634 Kinugawa Rubber Industrial Co., Ltd. 1,000 5,519 Kita-Nippon Bank, Ltd. (The) 200 4,923 Kitagawa Iron Works Co., Ltd. 3,000 6,300 Kitz Corp. 4,900 21,114 * Kiyo Bank Ltd (The) 900 11,963 Koa Corp. 2,600 24,444 Koatsu Gas Kogyo Co., Ltd. 1,000 5,560 Kobayashi Pharmaceutical Co., Ltd. 700 39,194 * Kobe Steel, Ltd. 51,000 90,085 Kohnan Shoji Co., Ltd. 1,000 10,519 Koito Manufacturing Co., Ltd. 4,000 72,815 Kokuyo Co., Ltd. 3,700 28,315 Komatsu, Ltd. 3,300 72,403 # Komeri Co., Ltd. 800 19,537 Konami Corp. 2,600 62,835 Konica Minolta, Inc. 9,500 78,669 # Kose Corp. 1,100 32,147 Kubota Corp. 1,000 14,807 Kubota Corp. Sponsored ADR 196 14,502 Kumiai Chemical Industry Co., Ltd. 3,000 22,269 Kura Corp. 400 6,484 Kurabo Industries, Ltd. 14,000 24,418 Kuraray Co., Ltd. 5,000 58,707 Kureha Corp. 7,000 26,995 Kurimoto, Ltd. 2,000 5,700 # Kurita Water Industries, Ltd. 3,000 65,472 Kuroda Electric Co., Ltd. 2,000 28,016 KYB Co., Ltd. 7,000 40,532 Kyocera Corp. 2,900 150,599 Kyodo Printing Co., Ltd. 4,000 11,138 # Kyoei Steel, Ltd. 700 14,486 Kyokuto Kaihatsu Kogyo Co., Ltd. 2,300 28,759 # Kyokuto Securities Co., Ltd. 700 12,254 KYORIN Holdings, Inc. 1,300 27,714 Kyosan Electric Manufacturing Co., Ltd. 2,000 6,641 Kyowa Exeo Corp. 1,900 22,562 Kyowa Hakko Kirin Co., Ltd. 5,000 55,225 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- JAPAN -- (Continued) * Kyushu Electric Power Co., Inc. 2,500 $ 35,200 # Lasertec Corp. 600 6,199 # Life Corp. 400 6,654 Lintec Corp. 1,700 35,259 Lion Corp. 3,000 18,005 LIXIL Group Corp. 4,100 96,238 Macnica, Inc. 300 8,134 Maeda Corp. 2,000 14,390 Maeda Road Construction Co., Ltd. 3,000 53,343 Makino Milling Machine Co., Ltd. 2,000 13,096 Makita Corp. 500 25,285 Mandom Corp. 1,000 34,331 Marubeni Corp. 15,000 117,442 Marudai Food Co., Ltd. 6,000 18,870 Maruha Nichiro Holdings, Inc. 15,000 28,766 Marui Group Co., Ltd. 6,900 66,051 Marusan Securities Co., Ltd. 1,900 15,660 Maruwa Co. Ltd/Aichi 200 7,260 Matsuda Sangyo Co., Ltd. 400 5,602 # Matsui Securities Co., Ltd. 700 7,495 Matsumotokiyoshi Holdings Co., Ltd. 1,100 37,117 Matsuya Foods Co., Ltd. 300 4,774 Max Co., Ltd. 1,000 11,239 * Mazda Motor Corp. 8,000 36,012 # McDonald's Holdings Co. Japan, Ltd. 200 5,526 # Medipal Holdings Corp. 5,200 70,116 Megachips Corp. 1,600 26,216 # Megmilk Snow Brand Co., Ltd. 1,800 25,562 Meidensha Corp. 3,000 11,220 MEIJI Holdings Co., Ltd. 800 44,721 Meitec Corp. 1,000 26,657 # Melco Holdings, Inc. 300 4,109 Michinoku Bank, Ltd. (The) 3,000 6,236 Milbon Co., Ltd. 200 8,324 Minato Bank, Ltd. (The) 3,000 5,232 Minebea Co., Ltd. 7,000 38,752 Ministop Co., Ltd. 300 4,682 Miraca Holdings, Inc. 700 31,541 Mirait Holdings Corp. 3,300 29,278 Misawa Homes Co., Ltd. 1,600 28,683 MISUMI Group, Inc. 1,100 32,202 Mitani Corp. 1,300 28,079 Mito Securities Co., Ltd. 3,000 14,406 Mitsuba Corp. 1,000 14,924 Mitsubishi Corp. 14,700 297,396 Mitsubishi Electric Corp. 7,000 76,944 Mitsubishi Estate Co., Ltd. 3,000 85,739 Mitsubishi Gas Chemical Co., Inc. 7,000 57,208 Mitsubishi Heavy Industries, Ltd. 24,000 152,526 Mitsubishi Logistics Corp. 5,000 69,485 Mitsubishi Materials Corp. 19,000 74,336 * Mitsubishi Paper Mills, Ltd. 3,000 2,720 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- JAPAN -- (Continued) Mitsubishi Pencil Co., Ltd. 300 $ 7,829 Mitsubishi Steel Manufacturing Co., Ltd. 3,000 8,515 Mitsubishi UFJ Financial Group, Inc. 136,900 871,815 Mitsuboshi Belting Co., Ltd. 1,000 5,155 Mitsui & Co., Ltd. 17,700 252,861 Mitsui Chemicals, Inc. 33,000 87,724 Mitsui Fudosan Co., Ltd. 2,000 66,252 Mitsui High-Tec, Inc. 700 4,960 Mitsui Matsushima Co., Ltd. 4,000 6,217 Mitsui Mining & Smelting Co., Ltd. 20,000 50,984 Mitsui OSK Lines, Ltd. 20,000 84,657 Mitsui Sugar Co., Ltd. 2,000 7,177 Mitsui-Soko Co., Ltd. 2,000 10,048 * Mitsumi Electric Co., Ltd. 4,600 31,020 Mitsuuroko Holdings Co., Ltd. 800 3,853 Miura Co., Ltd. 500 13,115 Miyazaki Bank, Ltd. (The) 6,000 17,414 Mizuho Financial Group, Inc. 231,099 485,091 # Mizuno Corp. 6,000 33,882 Morinaga & Co., Ltd. 3,000 6,384 # Morinaga Milk Industry Co., Ltd. 11,000 34,299 Morita Holdings Corp. 2,000 17,593 MOS Food Services, Inc. 300 5,817 Moshi Moshi Hotline, Inc. 900 11,313 MS&AD Insurance Group Holdings 5,400 139,630 Murata Manufacturing Co., Ltd. 800 64,216 Musashi Seimitsu Industry Co., Ltd. 300 7,079 Musashino Bank, Ltd. (The) 1,000 35,086 Nabtesco Corp. 300 7,322 Nachi-Fujikoshi Corp. 2,000 9,819 Nafco Co., Ltd. 300 4,282 Nagano Bank, Ltd. (The) 3,000 5,405 Nagase & Co., Ltd. 2,700 33,633 # Nagoya Railroad Co., Ltd. 10,000 29,033 Nakamuraya Co., Ltd. 2,000 8,249 Namco Bandai Holdings, Inc. 3,500 65,976 Namura Shipbuilding Co., Ltd. 2,600 37,649 Nankai Electric Railway Co., Ltd. 6,000 22,413 Nanto Bank, Ltd. (The) 8,000 31,675 NEC Corp. 63,000 141,510 NEC Fielding, Ltd. 400 4,518 NEC Networks & System Integration Corp. 1,500 37,769 # NET One Systems Co., Ltd. 2,100 14,649 Neturen Co., Ltd. 2,500 22,051 NHK Spring Co., Ltd. 5,000 52,339 # Nichias Corp. 2,000 13,531 Nichicon Corp. 3,100 32,466 Nichiden Corp. 200 4,715 Nichiha Corp. 500 7,175 Nichii Gakkan Co. 600 6,014 Nichirei Corp. 10,000 51,617 Nichireki Co., Ltd. 2,000 20,702 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- JAPAN -- (Continued) # Nidec Corp. 300 $ 29,236 Nidec Corp. ADR 388 9,459 # Nifco, Inc. 1,500 39,973 Nihon Dempa Kogyo Co., Ltd. 500 4,655 Nihon Kohden Corp. 900 37,068 Nihon M&A Center, Inc. 200 15,425 Nihon Nohyaku Co., Ltd. 2,000 23,972 Nihon Parkerizing Co., Ltd. 1,000 19,535 Nihon Unisys, Ltd. 3,100 27,645 Nikkiso Co., Ltd. 1,000 12,371 Nikon Corp. 6,100 112,766 Nintendo Co., Ltd. 100 11,245 Nippo Corp. 1,000 18,761 # Nippon Beet Sugar Manufacturing Co., Ltd. 3,000 5,651 # Nippon Carbon Co., Ltd. 3,000 5,847 * Nippon Chemi-Con Corp. 3,000 13,558 Nippon Coke & Engineering Co., Ltd. 19,000 24,076 Nippon Denko Co., Ltd. 8,000 23,298 Nippon Densetsu Kogyo Co., Ltd. 1,000 12,500 # Nippon Electric Glass Co., Ltd. 11,000 56,581 Nippon Express Co., Ltd. 15,000 75,323 Nippon Flour Mills Co., Ltd. 4,000 19,296 Nippon Gas Co., Ltd. 1,000 11,182 Nippon Koei Co., Ltd. 2,000 9,409 Nippon Konpo Unyu Soko Co., Ltd. 2,100 36,607 Nippon Light Metal Holdings Co., Ltd. 20,600 29,495 Nippon Meat Packers, Inc. 5,000 73,206 # Nippon Paper Industries Co., Ltd. 4,800 76,483 Nippon Road Co., Ltd. (The) 5,000 31,140 Nippon Seiki Co., Ltd. 2,000 32,608 # Nippon Sharyo, Ltd. 5,000 26,361 #* Nippon Sheet Glass Co., Ltd. 23,000 29,830 Nippon Shinyaku Co., Ltd. 1,000 17,238 Nippon Shokubai Co., Ltd. 4,000 49,070 Nippon Signal Co., Ltd. 900 6,845 Nippon Soda Co., Ltd. 6,000 36,758 Nippon Steel & Sumikin Texeng 4,000 16,306 Nippon Steel & Sumitomo Metal Corp. 55,000 181,530 * Nippon Suisan Kaisha, Ltd. 7,600 15,502 Nippon Synthetic Chemical Industry Co., Ltd. (The) 1,000 9,641 Nippon Telegraph & Telephone Corp. 900 46,782 Nippon Telegraph & Telephone Corp. ADR 1,189 31,033 Nippon Television Holdings, Inc. 200 3,664 Nippon Thompson Co., Ltd. 2,000 10,885 Nippon Valqua Industries, Ltd. 2,000 5,603 # Nippon Yusen KK 37,000 113,053 # Nipro Corp. 2,500 22,910 Nishi-Nippon City Bank, Ltd. (The) 23,000 62,140 # Nishi-Nippon Railroad Co., Ltd. 9,000 34,478 Nishikawa Rubber Co., Ltd. 400 7,200 Nishimatsu Construction Co., Ltd. 15,000 52,956 Nishimatsuya Chain Co., Ltd. 1,400 10,380 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- JAPAN -- (Continued) Nissan Chemical Industries, Ltd. 1,700 $ 26,726 Nissan Shatai Co., Ltd. 3,000 51,723 # Nisshin Oillio Group, Ltd. (The) 6,000 20,161 # Nisshin Seifun Group, Inc. 7,700 83,479 Nisshin Steel Holdings Co., Ltd. 2,500 33,335 Nisshinbo Holdings, Inc. 3,000 26,497 Nissin Corp. 4,000 11,732 # Nissin Electric Co., Ltd. 1,000 6,361 Nissin Foods Holdings Co., Ltd. 1,100 47,084 Nissin Kogyo Co., Ltd. 1,700 31,800 Nitta Corp. 700 14,744 # Nitto Denko Corp. 1,300 68,173 Nitto Kogyo Corp. 1,300 20,554 Nitto Kohki Co., Ltd. 1,300 24,564 # Nittoku Engineering Co., Ltd. 500 4,442 NKSJ Holdings, Inc. 5,900 152,723 Noevir Holdings Co., Ltd. 800 12,997 NOF Corp. 6,000 41,720 Nohmi Bosai, Ltd. 1,000 10,099 NOK Corp. 2,300 35,554 Nomura Holdings, Inc. 30,600 226,043 Nomura Real Estate Holdings, Inc. 1,600 40,482 # Nomura Research Institute, Ltd. 1,000 33,562 Noritake Co., Ltd/Nagoya 10,000 27,191 Noritz Corp. 1,200 27,815 North Pacific Bank, Ltd. 8,900 38,860 NS Solutions Corp. 1,500 34,201 * NS United Kaiun Kaisha, Ltd. 11,000 33,362 NSD Co., Ltd. 1,000 12,231 NSK, Ltd. 7,000 74,776 * NTN Corp. 12,000 57,682 # NTT Data Corp. 1,900 63,165 NTT DOCOMO, Inc. 13,300 211,005 Obayashi Corp. 10,000 64,071 OBIC Business Consultants, Ltd. 200 6,907 Obic Co., Ltd. 500 15,701 Odakyu Electric Railway Co., Ltd. 4,000 38,603 Ogaki Kyoritsu Bank, Ltd. (The) 10,000 28,168 # Oiles Corp. 700 15,640 Oita Bank, Ltd. (The) 3,000 11,005 Oji Holdings Corp. 21,000 95,971 Okabe Co., Ltd. 700 9,372 Okamura Corp. 1,000 7,227 Okinawa Cellular Telephone Co. 600 14,760 Okinawa Electric Power Co., Inc. (The) 200 6,950 OKUMA Corp. 3,000 25,342 Okumura Corp. 9,000 42,733 * Olympus Corp. 1,100 35,191 Omron Corp. 1,400 53,426 # Onward Holdings Co., Ltd. 5,000 41,384 Oracle Corp. Japan 700 27,639 Organo Corp. 1,000 4,848 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- JAPAN -- (Continued) Osaka Gas Co., Ltd. 6,000 $ 25,272 Osaka Steel Co., Ltd. 300 5,741 # OSAKA Titanium Technologies Co. 300 6,547 # Osaki Electric Co., Ltd. 1,000 6,593 OSG Corp. 2,100 33,971 Otsuka Corp. 100 12,970 Pacific Industrial Co., Ltd. 900 6,444 # Pacific Metals Co., Ltd. 3,000 10,993 Pack Corp. (The) 300 5,751 Pal Co., Ltd. 200 5,589 # Paltac Corp. 2,000 26,912 PanaHome Corp. 5,000 33,825 Panasonic Corp. 9,800 100,444 Paramount Bed Holdings Co., Ltd. 500 17,283 # Parco Co., Ltd. 500 5,141 Paris Miki Holdings, Inc. 500 2,336 # Park24 Co., Ltd. 1,700 33,192 Penta-Ocean Construction Co., Ltd. 13,000 39,305 #* Pioneer Corp. 15,300 28,164 Plenus Co., Ltd. 500 11,342 Pola Orbis Holdings, Inc. 1,000 33,882 Press Kogyo Co., Ltd. 2,000 8,773 Prima Meat Packers, Ltd. 3,000 6,361 Raito Kogyo Co., Ltd. 1,100 9,133 Rakuten, Inc. 2,800 36,483 Rengo Co., Ltd. 5,000 26,742 Resona Holdings, Inc. 20,800 108,196 Resorttrust, Inc. 800 30,474 Rhythm Watch Co., Ltd. 3,000 4,434 Ricoh Co., Ltd. 13,000 137,290 Ricoh Leasing Co., Ltd. 900 25,771 Riken Corp. 3,000 13,129 Riken Vitamin Co., Ltd. 500 12,470 # Rinnai Corp. 100 7,740 Riso Kagaku Corp. 900 20,049 Rock Field Co., Ltd. 300 5,756 Rohm Co., Ltd. 1,500 61,571 Rohto Pharmaceutical Co., Ltd. 2,000 29,025 Round One Corp. 5,500 29,180 # Royal Holdings Co., Ltd. 1,900 30,481 Ryobi, Ltd. 8,000 35,356 Ryoden Trading Co., Ltd. 1,000 6,839 Ryohin Keikaku Co., Ltd. 100 9,976 Ryosan Co., Ltd. 1,800 34,852 Saibu Gas Co., Ltd. 7,000 17,403 # Sakai Chemical Industry Co., Ltd. 2,000 6,625 Sakata INX Corp. 2,000 18,982 Sakata Seed Corp. 400 5,460 San-A Co., Ltd. 600 17,100 San-In Godo Bank, Ltd. (The) 4,000 29,038 # Sanden Corp. 2,000 8,092 Sangetsu Co., Ltd. 1,300 34,504 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- JAPAN -- (Continued) Sanken Electric Co., Ltd. 2,000 $ 11,037 Sankyu, Inc. 10,000 35,794 # Sanrio Co., Ltd. 500 27,476 Sanshin Electronics Co., Ltd. 700 4,570 Sanwa Holdings Corp. 7,000 44,862 Sanyo Chemical Industries, Ltd. 1,000 6,882 Sanyo Denki Co., Ltd. 1,000 6,536 Sanyo Electric Railway Co., Ltd. 3,000 12,790 Sanyo Shokai, Ltd. 2,000 5,519 Sanyo Special Steel Co., Ltd. 2,000 10,785 # Sawada Holdings Co., Ltd. 2,100 19,721 Sawai Pharmaceutical Co., Ltd. 600 43,862 SBI Holdings, Inc. 7,800 94,394 SCSK Corp. 300 7,605 Secom Co., Ltd. 900 54,218 Seika Corp. 2,000 4,873 Seiko Epson Corp. 6,300 102,839 Seiko Holdings Corp. 4,000 18,005 Seino Holdings Co., Ltd. 6,000 59,257 Seiren Co., Ltd. 800 5,105 Sekisui Chemical Co., Ltd. 6,000 69,711 Sekisui House, Ltd. 10,000 143,538 Sekisui Jushi Corp. 1,000 14,559 # Senko Co., Ltd. 3,000 16,180 Senshu Ikeda Holdings, Inc. 5,300 26,107 Senshukai Co., Ltd. 800 6,926 Seria Co., Ltd. 300 10,019 Seven & I Holdings Co., Ltd. 3,200 118,428 #* Sharp Corp. 8,000 23,665 Shibusawa Warehouse Co., Ltd. (The) 2,000 8,535 Shiga Bank, Ltd. (The) 9,000 49,188 Shikoku Bank, Ltd. (The) 9,000 20,845 Shikoku Chemicals Corp. 1,000 7,280 * Shikoku Electric Power Co., Inc. 2,100 37,483 Shima Seiki Manufacturing, Ltd. 400 8,206 Shimachu Co., Ltd. 1,100 26,712 Shimadzu Corp. 3,000 29,377 Shimamura Co., Ltd. 500 56,210 Shimano, Inc. 400 35,010 Shimizu Bank, Ltd. (The) 300 8,437 Shimizu Corp. 19,000 97,440 Shin-Etsu Chemical Co., Ltd. 2,800 158,318 Shin-Etsu Polymer Co., Ltd. 1,500 5,276 Shindengen Electric Manufacturing Co., Ltd. 2,000 12,869 Shinko Electric Industries Co., Ltd. 3,500 31,202 Shinko Plantech Co., Ltd. 1,900 15,340 Shinko Shoji Co., Ltd. 600 5,135 Shinmaywa Industries, Ltd. 4,000 31,340 Shinsei Bank, Ltd. 26,000 60,874 Shionogi & Co., Ltd. 1,800 39,831 Ship Healthcare Holdings, Inc. 800 32,827 Shiseido Co., Ltd. 2,200 37,635 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- JAPAN -- (Continued) Shizuoka Bank, Ltd. (The) 9,000 $101,262 Shizuoka Gas Co., Ltd. 1,000 6,622 Showa Corp. 1,200 16,655 # Showa Denko KK 56,000 75,933 Showa Sangyo Co., Ltd. 4,000 12,365 Showa Shell Sekiyu KK 6,100 65,580 Siix Corp. 900 10,983 # Sinanen Co., Ltd. 3,000 11,701 Sinfonia Technology Co., Ltd. 3,000 5,319 Sintokogio, Ltd. 1,500 11,287 SKY Perfect JSAT Holdings, Inc. 7,100 40,998 SMK Corp. 1,000 4,811 Sodick Co., Ltd. 1,300 6,077 Softbank Corp. 1,700 126,954 Sohgo Security Services Co., Ltd. 2,300 46,495 Sojitz Corp. 35,800 69,516 Sotetsu Holdings, Inc. 5,000 18,598 Square Enix Holdings Co., Ltd. 2,800 45,127 St Marc Holdings Co., Ltd. 300 15,441 Stanley Electric Co., Ltd. 3,400 79,087 Star Micronics Co., Ltd. 600 6,456 Start Today Co., Ltd. 500 13,940 Starzen Co., Ltd. 1,000 2,767 Stella Chemifa Corp. 300 5,544 Sugi Holdings Co., Ltd. 300 12,547 # Sumco Corp. 4,100 37,256 Sumitomo Bakelite Co., Ltd. 4,000 14,423 # Sumitomo Chemical Co., Ltd. 27,000 98,884 Sumitomo Corp. 12,100 157,461 Sumitomo Densetsu Co., Ltd. 1,900 28,062 Sumitomo Electric Industries, Ltd. 11,900 178,314 Sumitomo Forestry Co., Ltd. 3,300 38,392 # Sumitomo Heavy Industries, Ltd. 15,000 66,389 Sumitomo Metal Mining Co., Ltd. 13,000 180,058 Sumitomo Mitsui Financial Group, Inc. 11,200 541,362 Sumitomo Mitsui Trust Holdings, Inc. 27,000 133,355 Sumitomo Osaka Cement Co., Ltd. 8,000 32,278 Sumitomo Real Estate Sales Co., Ltd. 220 7,203 Sumitomo Realty & Development Co., Ltd. 1,000 47,316 Sumitomo Rubber Industries, Ltd. 3,100 43,157 Sumitomo Warehouse Co., Ltd. (The) 6,000 35,189 Suruga Bank, Ltd. 2,000 31,727 Suzuken Co. Ltd/Aichi Japan 2,700 97,496 # Suzuki Motor Corp. 3,400 85,494 #* SWCC Showa Holdings Co., Ltd. 7,000 7,986 # Sysmex Corp. 500 33,122 T Hasegawa Co., Ltd. 200 2,831 T&D Holdings, Inc. 11,500 138,066 Tachi-S Co., Ltd. 2,000 31,921 Tadano, Ltd. 1,000 13,751 Taihei Dengyo Kaisha, Ltd. 1,000 7,042 # Taiheiyo Cement Corp. 6,000 25,447 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- JAPAN -- (Continued) Taikisha, Ltd. 1,100 $ 25,569 Taisei Corp. 21,000 107,736 Taisei Lamick Co., Ltd. 200 5,084 Taiyo Holdings Co., Ltd. 200 6,040 # Taiyo Nippon Sanso Corp. 8,000 54,859 Taiyo Yuden Co., Ltd. 1,200 15,381 Takara Standard Co., Ltd. 3,000 24,137 Takasago International Corp. 3,000 16,679 Takasago Thermal Engineering Co., Ltd. 3,900 32,593 Takashimaya Co., Ltd. 5,000 47,705 Takata Corp. 1,500 37,833 Takeda Pharmaceutical Co., Ltd. 3,500 166,791 Takeuchi Manufacturing Co., Ltd. 1,100 23,203 Takuma Co., Ltd. 1,000 8,524 Tamron Co., Ltd. 800 17,070 Tatsuta Electric Wire and Cable Co., Ltd. 2,100 14,827 TDK Corp. 3,200 136,000 # Teijin, Ltd. 33,000 74,101 Teikoku Sen-I Co., Ltd. 1,000 9,190 #* Tekken Corp. 4,000 13,080 Terumo Corp. 800 38,745 THK Co., Ltd. 2,800 61,119 TKC Corp. 300 4,981 * Toa Corp. 6,000 14,581 Toagosei Co., Ltd. 9,000 40,812 # Tobu Railway Co., Ltd. 7,000 36,287 TOC Co., Ltd. 2,400 19,497 Tocalo Co., Ltd. 900 14,735 Tochigi Bank, Ltd. (The) 5,000 19,120 Toda Corp. 6,000 21,935 Toei Co., Ltd. 1,000 6,014 Toho Bank, Ltd. (The) 11,000 34,533 Toho Co., Ltd. 1,600 34,285 Toho Gas Co., Ltd. 6,000 31,287 # Toho Holdings Co., Ltd. 1,300 25,168 # Toho Titanium Co., Ltd. 3,200 25,432 Toho Zinc Co., Ltd. 3,000 9,041 * Tohoku Electric Power Co., Inc. 2,800 33,892 Tokai Carbon Co., Ltd. 12,000 41,256 Tokai Corp/Gifu 400 10,632 TOKAI Holdings Corp. 1,200 4,250 Tokai Rika Co., Ltd. 1,600 33,928 Tokai Rubber Industries, Ltd. 3,300 30,378 Tokai Tokyo Financial Holdings, Inc. 5,600 46,972 Token Corp. 510 27,090 Tokio Marine Holdings, Inc. 7,100 232,770 Tokushu Tokai Paper Co., Ltd. 1,000 2,057 Tokuyama Corp. 11,000 42,548 Tokyo Broadcasting System Holdings, Inc. 1,900 25,035 Tokyo Dome Corp. 2,000 13,754 * Tokyo Electric Power Co., Inc. 6,100 32,555 Tokyo Electron, Ltd. 2,400 131,694 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- JAPAN -- (Continued) Tokyo Gas Co., Ltd. 7,000 $ 37,982 * Tokyo Rope Manufacturing Co., Ltd. 5,000 8,728 Tokyo Seimitsu Co., Ltd. 800 15,275 * Tokyo Steel Manufacturing Co., Ltd. 1,600 8,598 Tokyo Tatemono Co., Ltd. 5,000 46,940 Tokyo Tomin Bank, Ltd. (The) 600 6,429 #* Tokyu Construction Co., Ltd. 2,740 16,101 Tokyu Corp. 6,000 40,860 * Tokyu Fudosan Holdings Corp. 2,843 27,930 Tomoku Co., Ltd. 2,000 6,384 TOMONY Holdings, Inc. 8,200 30,976 Tomy Co., Ltd. 4,900 25,252 TonenGeneral Sekiyu KK 1,000 9,289 Toppan Forms Co., Ltd. 2,800 26,114 Toppan Printing Co., Ltd. 11,000 86,882 Topre Corp. 600 8,419 Topy Industries, Ltd. 6,000 13,151 # Toray Industries, Inc. 20,000 124,975 Toshiba Corp. 16,000 68,004 Toshiba Machine Co., Ltd. 6,000 31,031 Toshiba Plant Systems & Services Corp. 1,000 17,644 Toshiba TEC Corp. 2,000 12,318 # Tosoh Corp. 15,000 57,400 Totetsu Kogyo Co., Ltd. 1,700 38,288 * Touei Housing Corp. 500 12,972 Towa Bank, Ltd. (The) 10,000 9,146 Towa Pharmaceutical Co., Ltd. 700 35,025 Toyo Corp. 500 5,578 Toyo Engineering Corp. 4,000 17,044 Toyo Ink SC Holdings Co., Ltd. 5,000 25,490 Toyo Kanetsu KK 8,000 23,527 Toyo Securities Co., Ltd. 7,000 23,977 Toyo Seikan Group Holdings, Ltd. 3,300 68,584 # Toyo Suisan Kaisha, Ltd. 1,000 31,803 # Toyo Tanso Co., Ltd. 300 5,686 Toyo Tire & Rubber Co., Ltd. 8,000 46,743 Toyobo Co., Ltd. 31,000 59,571 Toyoda Gosei Co., Ltd. 1,900 47,509 Toyota Boshoku Corp. 1,300 17,412 Toyota Tsusho Corp. 2,800 77,776 TPR Co., Ltd. 400 7,603 Trancom Co., Ltd. 300 9,387 Transcosmos, Inc. 500 8,652 Trend Micro, Inc. 1,000 37,194 Trusco Nakayama Corp. 300 6,387 TS Tech Co., Ltd. 1,200 44,958 TSI Holdings Co., Ltd. 3,000 21,205 Tsubakimoto Chain Co. 4,000 26,500 Tsukishima Kikai Co., Ltd. 1,000 10,531 Tsukuba Bank, Ltd. (The) 6,800 23,779 Tsumura & Co. 1,900 59,717 Tsuruha Holdings, Inc. 300 27,237 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ ----------- JAPAN -- (Continued) UACJ Corp. 7,000 $ 23,022 Ube Industries, Ltd. 36,000 74,516 UKC Holdings Corp. 300 5,980 * Ulvac, Inc. 2,900 29,656 Unicharm Corp. 600 38,537 Unipres Corp. 2,100 42,374 # United Arrows, Ltd. 200 8,617 * Unitika, Ltd. 3,000 1,837 UNY Group Holdings Co., Ltd. 7,100 44,803 Ushio, Inc. 2,600 32,840 USS Co., Ltd. 500 7,322 Valor Co., Ltd. 1,800 25,980 Vital KSK Holdings, Inc. 500 3,507 Wacoal Holdings Corp. 4,000 42,952 # Wacom Co., Ltd. 400 2,972 Wakita & Co., Ltd. 1,000 13,022 Warabeya Nichiyo Co., Ltd. 1,700 31,719 # Welcia Holdings Co., Ltd. 500 30,245 West Japan Railway Co. 1,000 44,840 Xebio Co., Ltd. 300 6,487 Yachiyo Bank, Ltd. (The) 700 19,095 Yahoo Japan Corp. 6,300 29,394 Yakult Honsha Co., Ltd. 800 40,635 # Yamada Denki Co., Ltd. 26,900 75,454 Yamagata Bank, Ltd. (The) 4,000 16,656 Yamaguchi Financial Group, Inc. 8,000 75,389 Yamaha Motor Co., Ltd. 5,200 79,656 Yamanashi Chuo Bank, Ltd. (The) 4,000 16,888 Yamato Holdings Co., Ltd. 3,800 81,722 # Yamato Kogyo Co., Ltd. 1,500 55,596 Yamazaki Baking Co., Ltd. 4,000 40,724 Yamazen Corp. 800 5,073 Yaoko Co., Ltd. 300 11,175 # Yaskawa Electric Corp. 1,000 12,951 Yellow Hat, Ltd. 800 14,571 Yodogawa Steel Works, Ltd. 2,000 9,047 Yokogawa Bridge Holdings Corp. 1,000 14,241 Yokogawa Electric Corp. 2,700 35,286 Yokohama Reito Co., Ltd. 1,400 11,081 Yokohama Rubber Co., Ltd. (The) 4,000 39,126 Yondoshi Holdings, Inc. 1,300 17,523 Yorozu Corp. 800 15,785 Yuasa Trading Co., Ltd. 3,000 6,057 # Zenrin Co., Ltd. 2,300 24,213 Zeon Corp. 4,000 47,669 ----------- TOTAL JAPAN 31,440,850 ----------- NETHERLANDS -- (2.4%) Aalberts Industries NV 3,077 91,869 Accell Group 812 16,578 # Aegon NV 38,411 305,631 Akzo Nobel NV 3,299 239,489 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ ---------- NETHERLANDS -- (Continued) * AMG Advanced Metallurgical Group NV 3,771 $ 42,096 Amsterdam Commodities NV 1,321 29,432 APERAM 2,306 39,397 Arcadis NV 2,270 71,188 ASM International NV 1,426 46,839 ASML Holding NV 1,345 127,280 # BE Semiconductor Industries NV 1,154 12,540 Beter Bed Holding NV 103 2,324 BinckBank NV 2,499 24,043 Brunel International NV 344 20,193 Corbion NV 1,538 35,632 Delta Lloyd NV 6,814 144,468 Exact Holding NV 439 11,601 Fugro NV 2,613 163,366 Gemalto NV 607 68,129 * Grontmij 1,448 7,354 Heijmans NV 592 7,853 Hunter Douglas NV 40 1,727 #* ING Groep NV 43,896 557,817 * ING Groep NV Sponsored ADR 924 11,753 KAS Bank NV 1,078 14,553 Kendrion NV 532 16,684 Koninklijke Ahold NV 17,017 323,434 # Koninklijke BAM Groep NV 9,637 51,254 Koninklijke Boskalis Westminster NV 1,996 95,933 * Koninklijke KPN NV 5,706 18,167 Koninklijke Philips NV 7,973 282,324 Koninklijke Ten Cate NV 1,029 31,242 Koninklijke Vopak NV 270 16,606 Koninklijke Wessanen NV 1,773 6,633 Nutreco NV 1,987 97,136 Randstad Holding NV 2,790 171,832 Reed Elsevier NV 3,052 61,359 Reed Elsevier NV Sponsored ADR 469 18,877 #* Royal Imtech NV 1,069 3,146 * SBM Offshore NV 6,042 126,462 Sligro Food Group NV 317 11,873 Telegraaf Media Groep NV 752 9,810 TKH Group NV 1,132 36,164 #* TomTom NV 5,912 45,648 Unit4 NV 822 38,673 USG People NV 1,849 24,442 Wolters Kluwer NV 3,685 99,830 Ziggo NV 3,202 137,267 ---------- TOTAL NETHERLANDS 3,817,948 ---------- NEW ZEALAND -- (0.3%) # Air New Zealand, Ltd. 12,645 16,822 # Auckland International Airport, Ltd. 27,977 79,198 #* Bathurst Resources New Zealand, Ltd. 9,581 1,764 Chorus, Ltd. 10,816 23,672 Contact Energy, Ltd. 10,843 47,020 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- NEW ZEALAND -- (Continued) Fisher & Paykel Healthcare Corp., Ltd. 12,138 $ 36,915 Fletcher Building, Ltd. 6,668 55,028 Freightways, Ltd. 544 1,964 Infratil, Ltd. 11,288 23,309 Kathmandu Holdings, Ltd. 8,507 27,303 Mainfreight, Ltd. 742 7,109 Nuplex Industries, Ltd. 2,075 5,998 Port of Tauranga, Ltd. 1,180 13,443 # Ryman Healthcare, Ltd. 4,796 29,897 Sky Network Television, Ltd. 10,622 54,399 # Telecom Corp. of New Zealand, Ltd. 15,285 29,660 Tower, Ltd. 2,423 3,704 TrustPower, Ltd. 712 4,058 Vector, Ltd. 6,867 14,800 Warehouse Group, Ltd. (The) 3,208 9,752 -------- TOTAL NEW ZEALAND 485,815 -------- NORWAY -- (1.0%) ABG Sundal Collier Holding ASA 5,144 4,017 Aker ASA Class A 249 7,845 Aker Solutions ASA 571 7,889 * Algeta ASA 801 31,741 Atea ASA 1,182 13,098 Austevoll Seafood ASA 3,081 19,129 Bakkafrost P/F 264 3,709 Bonheur ASA 235 5,372 BW Offshore, Ltd. 21,859 29,916 * BWG Homes ASA 2,437 4,528 Cermaq ASA 1,636 28,993 * Det Norske Oljeselskap ASA 1,499 21,331 DNB ASA 11,790 208,996 * DNO International ASA 10,543 29,794 Ekornes ASA 1,061 17,259 Eltek ASA 1,341 1,578 Fred Olsen Energy ASA 500 21,012 #* Frontline, Ltd. 1,584 3,366 Gjensidige Forsikring ASA 2,230 41,623 Golden Ocean Group Ltd. 10,261 15,462 * Hoegh LNG Holdings Ltd 401 3,086 * Kongsberg Automotive Holding ASA 14,742 11,372 # Kvaerner ASA 9,715 15,827 Leroey Seafood Group ASA 1,018 31,458 Marine Harvest ASA 21,441 25,137 #* Nordic Semiconductor ASA 4,191 17,760 # Norsk Hydro ASA 23,018 102,724 #* Norwegian Air Shuttle A.S. 232 9,524 * Odfjell SE Class A 203 1,456 # Opera Software ASA 908 10,990 Orkla ASA 7,127 57,773 Petroleum Geo-Services ASA 1,166 14,141 Prosafe SE 927 7,945 #* REC Silicon ASA 102,391 50,986 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- NORWAY -- (Continued) #* REC Solar AS 1,763 $ 22,507 * Salmar ASA 334 4,092 Schibsted ASA 623 38,073 Seadrill, Ltd. 840 39,161 SpareBank 1 SR Bank ASA 5,024 45,150 Statoil ASA 4,573 108,203 Statoil ASA Sponsored ADR 4,209 99,459 Stolt-Nielsen, Ltd. 714 20,216 * Storebrand ASA 14,769 95,504 Subsea 7 SA 3,949 83,513 Telenor ASA 1,507 36,210 TGS Nopec Geophysical Co. ASA 846 23,268 Tomra Systems ASA 2,665 24,400 Veidekke ASA 2,111 17,192 Wilh Wilhelmsen ASA 2,874 26,680 Wilh Wilhelmsen Holding ASA Class A 223 6,827 # Yara International ASA 1,755 75,583 ---------- TOTAL NORWAY 1,642,875 ---------- PORTUGAL -- (0.3%) Altri SGPS SA 9,400 30,510 #* Banco BPI SA 10,198 16,148 #* Banco Comercial Portugues SA 346,028 51,600 * Banco Espirito Santo SA 26,587 34,935 EDP--Energias de Portugal SA 14,832 54,597 * EDP Renovaveis SA 8,046 44,234 Galp Energia SGPS SA 2,451 41,504 Jeronimo Martins SGPS SA 1,464 26,962 Mota-Engil SGPS SA 5,517 25,287 Portucel SA 8,001 30,786 # Portugal Telecom SGPS SA 8,905 40,139 REN--Redes Energeticas Nacionais SGPS SA 4,225 12,677 Semapa-Sociedade de Investimento e Gestao 708 6,957 Sonae 40,341 58,267 Sonaecom--SGPS SA 2,761 8,952 # ZON OPTIMUS SGPS SA 4,259 29,213 ---------- TOTAL PORTUGAL 512,768 ---------- SINGAPORE -- (1.5%) # Ausgroup, Ltd. 14,000 3,326 Biosensors International Group, Ltd. 60,000 45,367 Boustead Singapore, Ltd. 9,000 10,904 Bukit Sembawang Estates, Ltd. 5,000 24,740 CapitaLand, Ltd. 30,000 75,165 Chip Eng Seng Corp., Ltd. 14,000 7,936 City Developments, Ltd. 7,000 57,941 Cityspring Infrastructure Trust 25,000 9,653 ComfortDelGro Corp., Ltd. 31,000 47,869 Cosco Corp. Singapore, Ltd. 28,000 17,651 CSE Global, Ltd. 14,000 10,635 CWT, Ltd. 5,000 5,592 DBS Group Holdings, Ltd. 16,160 217,861 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- SINGAPORE -- (Continued) Ezion Holdings, Ltd. 16,000 $ 28,798 * Ezra Holdings, Ltd. 35,000 37,721 First Resources, Ltd. 17,000 26,672 Fragrance Group, Ltd. 64,000 10,561 GMG Global, Ltd. 163,000 13,250 Golden Agri-Resources, Ltd. 56,000 27,040 Goodpack, Ltd. 12,000 18,497 Great Eastern Holdings, Ltd. 1,000 14,571 GuocoLand, Ltd. 5,000 9,053 GuocoLeisure, Ltd. 17,000 11,277 Ho Bee Land, Ltd. 11,000 18,212 Hongkong Land Holdings, Ltd. 6,000 36,901 Hotel Properties, Ltd. 9,000 22,738 Hutchison Port Holdings Trust 28,000 20,434 Hyflux, Ltd. 16,000 14,921 Indofood Agri Resources, Ltd. 18,000 13,176 Jardine Cycle & Carriage, Ltd. 1,000 29,471 K-Green Trust 17,000 14,022 Keppel Corp., Ltd. 5,000 43,632 Keppel Land, Ltd. 28,000 83,475 Lian Beng Group, Ltd. 48,000 21,428 M1, Ltd. 6,000 16,442 Midas Holdings, Ltd. 42,000 16,864 Nam Cheong Ltd 118,000 27,081 * Neptune Orient Lines, Ltd. 32,000 27,257 Noble Group, Ltd. 143,000 118,149 # Olam International, Ltd. 54,000 66,806 # OSIM International, Ltd. 4,000 6,792 # OUE, Ltd. 14,000 27,252 Oversea-Chinese Banking Corp., Ltd. 13,000 108,751 * Raffles Education Corp., Ltd. 19,000 4,588 SATS, Ltd. 8,000 21,887 SembCorp Industries, Ltd. 8,000 34,203 # SembCorp Marine, Ltd. 3,000 10,853 Sinarmas Land, Ltd. 30,000 13,254 Singapore Airlines, Ltd. 13,000 109,049 Singapore Exchange, Ltd. 5,000 29,498 Singapore Post, Ltd. 20,000 21,084 # Singapore Press Holdings, Ltd. 17,000 58,152 Singapore Telecommunications, Ltd. 22,000 66,809 SMRT Corp., Ltd. 4,000 4,183 Stamford Land Corp., Ltd. 11,000 5,042 StarHub, Ltd. 2,000 7,152 Super Group, Ltd. 6,000 20,287 # Tat Hong Holdings, Ltd. 5,000 3,757 Tuan Sing Holdings, Ltd. 21,000 5,409 # United Envirotech, Ltd. 35,000 23,492 United Industrial Corp., Ltd. 3,000 7,409 United Overseas Bank, Ltd. 13,000 217,706 UOB-Kay Hian Holdings, Ltd. 4,000 5,351 * Vard Holdings, Ltd. 23,000 16,254 Venture Corp., Ltd. 13,000 81,411 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- SINGAPORE -- (Continued) Wilmar International, Ltd. 22,000 $ 61,194 Wing Tai Holdings, Ltd. 21,000 37,286 Yongnam Holdings, Ltd. 26,000 5,024 ---------- TOTAL SINGAPORE 2,336,218 ---------- SPAIN -- (2.9%) Abengoa SA Class B 11,504 27,857 Abertis Infraestructuras SA 3,212 68,816 Acciona SA 730 46,276 Acerinox SA 3,309 43,620 ACS Actividades de Construccion y Servicios SA 1,751 57,447 Adveo Group International SA 62 1,159 Almirall SA 1,484 22,175 Amadeus IT Holding SA Class A 1,905 70,680 Atresmedia Corporacion de Medi 1,251 20,900 Banco Bilbao Vizcaya Argentaria SA 42,167 492,803 Banco Bilbao Vizcaya Argentaria SA Sponsored ADR 2,277 26,601 Banco de Sabadell SA 85,842 219,953 * Banco Popular Espanol SA 38,311 217,314 # Banco Santander SA 111,621 989,552 Bankinter SA 11,421 69,635 Bolsas y Mercados Espanoles SA 1,704 63,713 CaixaBank 25,057 129,873 * Campofrio Food Group SA 1,648 13,197 Cie Automotive SA 540 5,858 Construcciones y Auxiliar de Ferrocarriles SA 132 68,539 * Deoleo SA 24,843 14,146 Distribuidora Internacional de Alimentacion SA 6,555 59,762 Duro Felguera SA 111 726 Ebro Foods SA 3,108 70,119 Elecnor SA 708 10,362 Enagas SA 3,191 85,200 Ence Energia y Celulosa SA 9,356 37,575 Faes Farma SA 9,098 32,691 # Ferrovial SA 3,093 58,958 * Fomento de Construcciones y Contratas SA 699 16,083 * Gamesa Corp. Tecnologica SA 9,132 88,189 Gas Natural SDG SA 2,984 70,381 Grupo Catalana Occidente SA 955 32,309 Iberdrola SA 55,694 349,583 Inditex SA 458 75,221 Indra Sistemas SA 3,077 50,742 * Jazztel P.L.C. 4,844 53,056 Mapfre SA 7,045 28,291 * Mediaset Espana Comunicacion SA 5,351 65,305 Melia Hotels International SA 1,614 18,274 #* NH Hoteles SA 7,114 37,129 Obrascon Huarte Lain SA 1,149 48,125 Prosegur Cia de Seguridad SA 2,843 16,868 Red Electrica Corp. SA 1,514 94,269 Repsol SA 8,285 222,121 * Sacyr SA 10,826 58,265 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ ---------- SPAIN -- (Continued) Tecnicas Reunidas SA 618 $ 31,810 #* Telefonica SA 9,024 158,816 * Telefonica SA Sponsored ADR 3,737 65,285 Tubacex SA 4,175 16,073 Tubos Reunidos SA 7,475 18,626 Vidrala SA 192 8,220 Viscofan SA 626 33,207 Zardoya Otis SA 2,090 36,351 * Zeltia SA 7,549 26,008 ---------- TOTAL SPAIN 4,744,114 ---------- SWEDEN -- (2.8%) AarhusKarlshamn AB 495 29,286 Acando AB 420 824 AF AB Class B 1,255 39,646 Alfa Laval AB 2,287 52,168 Assa Abloy AB Class B 2,320 115,112 Atrium Ljungberg AB Class B 30 409 Axfood AB 355 18,359 Axis Communications AB 64 2,208 B&B Tools AB Class B 370 5,071 # Beijer Alma AB 1,395 36,429 Bilia AB Class A 1,165 28,212 BillerudKorsnas AB 5,964 69,966 BioGaia AB Class B 95 3,236 Boliden AB 9,139 129,801 Bure Equity AB 1,455 5,623 Byggmax Group AB 147 1,105 Castellum AB 2,861 43,930 # Clas Ohlson AB Class B 2,311 36,392 Concentric AB 787 8,095 Dios Fastigheter AB 2,907 18,748 Duni AB 1,913 21,539 Electrolux AB Series B 2,019 49,799 # Elekta AB Class B 4,265 62,990 #* Eniro AB 6,256 27,181 Fabege AB 2,908 33,459 Getinge AB Class B 1,641 51,987 Gunnebo AB 3,716 21,339 Haldex AB 1,153 8,350 Hennes & Mauritz AB Class B 2,551 110,233 Hexagon AB Class B 3,688 110,584 Hexpol AB 382 28,701 HIQ International AB 2,121 12,293 # Holmen AB Class B 2,572 85,434 Husqvarna AB Class A 1,581 9,281 Husqvarna AB Class B 12,975 76,235 * ICA Gruppen AB 2,332 70,479 Industrial & Financial Systems Class B 553 12,701 Indutrade AB 99 3,871 Intrum Justitia AB 1,920 51,052 JM AB 1,776 50,593 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ ---------- SWEDEN -- (Continued) * KappAhl AB 2,817 $ 16,656 * Karolinska Development AB Class B 2,570 13,191 Kungsleden AB 5,180 38,047 Lagercrantz AB Class B 1,289 22,377 #* Lindab International AB 3,331 32,432 Loomis AB Class B 1,553 37,227 * Lundin Petroleum AB 1,560 32,149 Meda AB Class A 7,146 80,189 #* Medivir AB Class B 328 4,293 # Mekonomen AB 505 16,653 Millicom International Cellular SA 396 36,534 Modern Times Group AB Class B 823 44,891 NCC AB Class A 374 11,684 NCC AB Class B 2,855 87,818 # Nibe Industrier AB Class B 2,644 50,693 Nobia AB 4,812 41,890 Nolato AB Class B 433 8,836 Nordea Bank AB 30,157 385,753 Nordnet AB Class B 5,225 22,313 # Peab AB 3,419 20,103 Proffice AB Class B 638 2,430 # Ratos AB Class B 4,018 34,771 * Rezidor Hotel Group AB 1,068 6,078 Sandvik AB 4,871 65,817 * SAS AB 11,807 35,329 Securitas AB Class B 6,484 73,937 Skandinaviska Enskilda Banken AB Class A 17,184 207,841 Skanska AB Class B 9,360 180,220 SkiStar AB 194 2,588 # SSAB AB Class A 3,965 26,084 SSAB AB Class B 525 2,962 Svenska Cellulosa AB Class A 572 16,165 Svenska Cellulosa AB Class B 8,857 251,107 Svenska Handelsbanken AB Class A 5,632 254,716 Svenska Handelsbanken AB Class B 23 995 Sweco AB Class B 220 2,779 Swedbank AB Class A 9,727 253,158 * Swedish Orphan Biovitrum AB 5,855 55,964 Systemair AB 168 2,956 Tele2 AB Class B 8,205 98,898 TeliaSonera AB 22,976 189,988 Transmode AB 457 7,555 Trelleborg AB Class B 7,575 142,938 Wallenstam AB Class B 1,247 17,292 Wihlborgs Fastigheter AB 1,610 27,769 ---------- TOTAL SWEDEN 4,506,787 ---------- SWITZERLAND -- (4.8%) ABB, Ltd. 10,701 272,635 ABB, Ltd. Sponsored ADR 8,786 223,779 # Actelion, Ltd. 1,844 142,671 Adecco SA 2,379 175,436 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- SWITZERLAND -- (Continued) * AFG Arbonia-Forster Holding AG 731 $ 25,338 Allreal Holding AG 438 60,219 Alpiq Holding AG 189 24,962 ams AG 142 15,504 APG SGA SA 33 8,749 Aryzta AG 2,785 207,768 Ascom Holding AG 588 8,672 Autoneum Holding AG 266 35,415 Baloise Holding AG 1,671 194,126 Bank Coop AG 85 4,464 Banque Cantonale de Geneve 19 4,856 Banque Cantonale Vaudoise 75 41,675 Basler Kantonalbank 117 9,846 Belimo Holding AG 8 20,620 Bell AG 1 2,448 Berner Kantonalbank AG 151 37,622 BKW AG 581 20,180 * Bobst Group AG 63 2,224 Bossard Holding AG 27 5,492 Bucher Industries AG 202 55,940 Burckhardt Compression Holding AG 18 7,213 Cie Financiere Richemont SA 2,987 305,420 Cie Financiere Tradition SA 83 4,493 Clariant AG 9,501 167,406 Credit Suisse Group AG 6,386 198,655 Credit Suisse Group AG Sponsored ADR 8,959 278,894 Daetwyler Holding AG 141 17,930 EFG International AG 1,818 26,749 Emmi AG 72 20,716 EMS-Chemie Holding AG 62 22,577 Energiedienst Holding AG 25 856 Flughafen Zuerich AG 125 69,273 Forbo Holding AG 58 45,479 Galenica AG 143 126,384 # GAM Holding AG 5,567 104,024 * Gategroup Holding AG 865 22,654 Geberit AG 367 109,647 Georg Fischer AG 102 70,262 Givaudan SA 114 161,673 Gurit Holding AG 8 3,717 Helvetia Holding AG 191 90,083 Huber & Suhner AG 289 15,804 Implenia AG 665 44,784 Inficon Holding AG 65 20,257 Intershop Holdings 15 5,440 Julius Baer Group, Ltd. 5,100 250,184 Kaba Holding AG Class B 91 38,938 Kardex AG 529 23,049 Komax Holding AG 100 13,685 Kudelski SA 1,322 18,233 Kuehne + Nagel International AG 382 48,258 Kuoni Reisen Holding AG 88 37,197 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ ---------- SWITZERLAND -- (Continued) LEM Holding SA 10 $ 7,380 Liechtensteinische Landesbank AG 109 4,319 Lindt & Spruengli AG 1 50,260 Logitech International SA 4,869 50,102 Luzerner Kantonalbank AG 102 40,695 MCH Group AG 97 6,472 Metall Zug AG 3 7,206 #* Meyer Burger Technology AG 3,938 46,207 Micronas Semiconductor Holding AG 2,725 22,304 Mobilezone Holding AG 307 3,182 Mobimo Holding AG 140 29,318 Nobel Biocare Holding AG 947 15,623 OC Oerlikon Corp. AG 5,615 78,499 * Orascom Development Holding AG 232 3,306 Orior AG 193 10,847 Partners Group Holding AG 170 44,068 Phoenix Mecano AG 6 3,589 PubliGroupe AG 37 3,663 Rieter Holding AG 155 32,451 Romande Energie Holding SA 3 3,750 * Schmolz + Bickenbach AG 10,608 13,425 Schweiter Technologies AG 46 30,854 Schweizerische National-Versicherungs-Gesellschaft AG 358 17,693 SGS SA 31 72,532 Siegfried Holding AG 133 21,929 Sika AG 52 163,927 Sonova Holding AG 776 100,990 St Galler Kantonalbank AG 36 14,641 Swatch Group AG (The)(7184725) 276 176,279 Swatch Group AG (The)(7184736) 342 38,052 Swiss Life Holding AG 1,111 220,289 Swiss Re AG 6,996 614,127 Swisscom AG 148 75,488 Swisslog Holding AG 2,196 2,563 Swissquote Group Holding SA 701 28,695 Syngenta AG 330 133,193 Tamedia AG 5 594 U-Blox AG 460 41,502 UBS AG 36,724 710,977 Valiant Holding 529 49,349 Valora Holding AG 127 31,379 Vaudoise Assurances Holding SA Class B 62 26,216 Verwaltungs- und Privat-Bank AG 176 17,061 Vetropack Holding AG 6 11,988 Vontobel Holding AG 968 38,746 Walliser Kantonalbank 1 836 Walter Meier AG 85 5,407 Zehnder Group AG 331 15,590 Zuger Kantonalbank AG 3 15,675 Zurich Insurance Group AG 2,123 586,634 ---------- TOTAL SWITZERLAND 7,710,447 ---------- INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ ---------- UNITED KINGDOM -- (17.7%) Aberdeen Asset Management P.L.C. 11,907 $ 84,502 Admiral Group P.L.C. 2,352 48,155 * Afren P.L.C. 20,406 51,581 Aggreko P.L.C. 3,021 77,900 Alent P.L.C. 7,283 40,475 AMEC P.L.C. 5,465 103,071 Amlin P.L.C. 19,044 130,119 Anglo American P.L.C. 13,251 315,063 Antofagasta P.L.C. 739 10,100 ARM Holdings P.L.C. Sponsored ADR 2,922 137,889 Ashmore Group P.L.C. 10,568 68,482 Ashtead Group P.L.C. 12,059 126,718 Aviva P.L.C. 8,759 62,880 # Aviva P.L.C. Sponsored ADR 16,513 238,448 AZ Electronic Materials SA 3,213 14,760 Balfour Beatty P.L.C. 16,077 73,524 Barclays P.L.C. Sponsored ADR 38,983 655,304 Barratt Developments P.L.C. 34,419 184,574 BBA Aviation P.L.C. 18,316 99,277 Beazley P.L.C. 21,395 78,426 Bellway P.L.C. 4,668 112,435 Berendsen P.L.C. 4,448 69,268 Berkeley Group Holdings P.L.C. 4,498 168,608 BG Group P.L.C. 32,328 659,480 BHP Billiton P.L.C. ADR 1,879 115,822 Bloomsbury Publishing P.L.C. 364 1,006 Bodycote P.L.C. 5,240 55,235 Bovis Homes Group P.L.C. 4,919 61,883 BP P.L.C. Sponsored ADR 31,949 1,485,628 Braemar Shipping Services P.L.C. 266 2,288 Brammer P.L.C. 5,914 45,741 Brewin Dolphin Holdings P.L.C. 9,348 42,621 British Polythene Industries P.L.C. 1,323 14,496 British Sky Broadcasting Group P.L.C. 6,042 90,781 BT Group P.L.C. 26,802 162,169 BT Group P.L.C. Sponsored ADR 1,051 63,722 * BTG P.L.C. 9,457 63,636 Bunzl P.L.C. 4,929 108,729 Burberry Group P.L.C. 2,353 57,821 * Cairn Energy P.L.C. 10,711 48,533 Capita P.L.C. 3,509 55,471 Carillion P.L.C. 12,225 59,560 Carnival P.L.C. ADR 3,257 115,949 Catlin Group, Ltd. 9,966 81,871 Centrica P.L.C. 27,748 156,935 Chesnara P.L.C. 4,234 19,839 Cineworld Group P.L.C. 3,348 19,910 Clarkson P.L.C. 233 7,508 Close Brothers Group P.L.C. 5,362 108,590 Coca-Cola HBC AG 4,075 117,199 * Colt Group SA 5,712 11,287 Communisis P.L.C. 5,124 5,187 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ -------- UNITED KINGDOM -- (Continued) Compass Group P.L.C. 13,682 $196,764 Computacenter P.L.C. 4,456 42,240 Consort Medical P.L.C. 120 1,711 Cranswick P.L.C. 2,019 34,713 Croda International P.L.C. 1,499 58,577 CSR P.L.C. 3,985 35,102 CSR P.L.C. ADR 300 10,572 Daily Mail & General Trust P.L.C. 2,543 33,168 Dairy Crest Group P.L.C. 5,525 47,581 DCC P.L.C. 921 41,243 Debenhams P.L.C. 49,797 81,235 Dechra Pharmaceuticals P.L.C. 2,358 26,121 Development Securities P.L.C. 4,583 17,181 Devro P.L.C. 2,268 11,521 Dignity P.L.C. 307 6,870 Diploma P.L.C. 4,566 50,715 * Dixons Retail P.L.C. 81,626 63,954 Domino Printing Sciences P.L.C. 2,935 32,503 Drax Group P.L.C. 14,063 143,574 DS Smith P.L.C. 29,394 142,471 Dunelm Group P.L.C. 420 5,964 E2V Technologies P.L.C. 931 2,149 easyJet P.L.C. 3,214 67,324 Electrocomponents P.L.C. 16,263 77,749 Elementis P.L.C. 15,231 63,226 * EnQuest P.L.C. 17,124 36,610 * Essar Energy P.L.C. 13,277 25,286 * Eurasian Natural Resources Corp. P.L.C. 7,033 25,340 Euromoney Institutional Investor P.L.C. 366 6,311 * Evraz P.L.C. 3,856 7,288 * Exillon Energy P.L.C. 1,987 7,565 Experian P.L.C. 5,183 105,519 F&C Asset Management P.L.C. 21,596 35,129 Fenner P.L.C. 7,047 45,150 Ferrexpo P.L.C. 3,511 10,195 Fidessa Group P.L.C. 688 22,307 Firstgroup P.L.C. 18,677 34,541 Fresnillo P.L.C. 241 3,767 G4S P.L.C. 12,897 54,171 Galliford Try P.L.C. 2,473 45,528 * Gem Diamonds, Ltd. 1,523 3,889 Genus P.L.C. 699 14,772 GKN P.L.C. 30,139 177,541 Glencore Xstrata P.L.C. 41,660 226,723 Go-Ahead Group P.L.C. 918 24,746 Grafton Group P.L.C. 4,512 42,855 Greencore Group P.L.C. 16,012 46,166 Greggs P.L.C. 813 5,990 Halfords Group P.L.C. 6,803 46,076 Halma P.L.C. 12,232 107,440 Hargreaves Lansdown P.L.C. 2,769 52,750 Hays P.L.C. 20,379 40,674 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- UNITED KINGDOM -- (Continued) Helical Bar P.L.C. 2,872 $ 13,818 Henderson Group P.L.C. 29,920 102,700 Hill & Smith Holdings P.L.C. 2,871 22,120 Hiscox, Ltd. 11,986 127,247 Hochschild Mining P.L.C. 1,276 3,384 Home Retail Group P.L.C. 31,636 100,935 Homeserve P.L.C. 11,423 42,919 Howden Joinery Group P.L.C. 2,588 13,384 HSBC Holdings P.L.C. Sponsored ADR 40,434 2,225,487 Hunting P.L.C. 4,983 71,191 ICAP P.L.C. 16,302 100,665 IG Group Holdings P.L.C. 11,363 111,676 IMI P.L.C. 2,902 70,603 Inchcape P.L.C. 17,067 174,252 Informa P.L.C. 16,205 145,171 Inmarsat P.L.C. 12,663 146,153 * Innovation Group P.L.C. 22,331 11,373 InterContinental Hotels Group P.L.C. 1,678 48,891 # InterContinental Hotels Group P.L.C. ADR 731 21,455 * International Consolidated Airlines Group SA 31,337 174,411 Interserve P.L.C. 5,962 58,765 Intertek Group P.L.C. 1,342 71,595 Invensys P.L.C. 14,170 113,709 Investec P.L.C. 12,514 87,556 * IP Group P.L.C. 7,033 16,579 ITE Group P.L.C. 4,116 21,276 ITV P.L.C. 34,641 105,918 J Sainsbury P.L.C. 20,243 128,048 James Fisher & Sons P.L.C. 1,131 20,192 Jardine Lloyd Thompson Group P.L.C. 2,515 40,308 JD Sports Fashion P.L.C. 411 7,489 John Menzies P.L.C. 1,317 17,303 John Wood Group P.L.C. 8,281 107,822 Johnson Matthey P.L.C. 3,130 150,626 Jupiter Fund Management P.L.C. 10,294 65,822 Kazakhmys P.L.C. 2,491 10,480 Kcom Group P.L.C. 16,007 25,752 Keller Group P.L.C. 2,064 34,765 Kier Group P.L.C. 1,202 34,805 Kingfisher P.L.C. 43,161 261,100 * Kofax P.L.C. 389 2,366 Laird P.L.C. 2,142 8,569 * Lamprell P.L.C. 4,182 10,996 Lancashire Holdings, Ltd. 5,817 75,692 Lavendon Group P.L.C. 2,191 6,456 Legal & General Group P.L.C. 65,796 228,036 * Lloyds Banking Group P.L.C. 169,623 209,789 #* Lloyds Banking Group P.L.C. ADR 76,919 386,903 London Stock Exchange Group P.L.C. 3,716 97,671 * Lonmin P.L.C. 14,788 76,383 Lookers P.L.C. 15,514 32,304 Low & Bonar P.L.C. 15,615 19,274 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------ ---------- UNITED KINGDOM -- (Continued) Man Group P.L.C. 67,799 $ 96,493 Marks & Spencer Group P.L.C. 13,428 108,285 McBride P.L.C. 338 593 Mears Group P.L.C. 4,347 29,835 Mecom Group P.L.C. 198 213 Melrose Industries P.L.C. 38,039 195,015 Michael Page International P.L.C. 1,161 9,012 Micro Focus International P.L.C. 2,256 29,569 Millennium & Copthorne Hotels P.L.C. 4,807 43,937 Mitie Group P.L.C. 14,083 70,983 Mondi P.L.C. 10,480 187,130 Morgan Advanced Materials P.L.C. 8,917 43,498 Morgan Sindall Group P.L.C. 2,595 33,083 N Brown Group P.L.C. 4,476 37,614 National Express Group P.L.C. 12,486 52,264 National Grid P.L.C. Sponsored ADR 1,855 116,735 Next P.L.C. 754 65,844 Northgate P.L.C. 5,880 42,649 Novae Group P.L.C. 708 6,297 * Ocado Group P.L.C. 3,561 24,784 Old Mutual P.L.C. 86,645 282,379 * Optos P.L.C. 998 2,492 Pace P.L.C. 5,447 26,601 PayPoint P.L.C. 402 6,707 Pearson P.L.C. Sponsored ADR 11,890 249,690 Pennon Group P.L.C. 10,178 111,142 Persimmon P.L.C. 10,938 221,453 * Petra Diamonds, Ltd. 11,429 20,414 Petropavlovsk P.L.C. 1,426 1,830 Phoenix Group Holdings 6,150 76,692 Photo-Me International P.L.C. 6,189 13,198 Premier Farnell P.L.C. 4,713 17,030 * Premier Foods P.L.C. 13,749 33,208 Premier Oil P.L.C. 17,353 96,556 Prudential P.L.C. ADR 7,954 325,796 PZ Cussons P.L.C. 5,533 34,916 * Quintain Estates & Development P.L.C. 14,343 22,331 Randgold Resources, Ltd. 371 27,514 Raven Russia Ltd 8,361 10,509 Redrow P.L.C. 7,384 31,360 Reed Elsevier P.L.C. Sponsored ADR 911 51,180 Regus PLC 18,134 59,507 Renishaw P.L.C. 355 9,228 Resolution, Ltd. 54,255 310,651 Rexam P.L.C. 27,227 226,718 Rio Tinto P.L.C. Sponsored ADR 10,993 557,345 Rolls-Royce Holdings P.L.C. 10,083 185,759 Rotork P.L.C. 340 15,578 * Royal Bank of Scotland Group P.L.C. Sponsored ADR 10,278 121,075 Royal Dutch Shell P.L.C. ADR(780259206) 21,594 1,439,456 Royal Dutch Shell P.L.C. ADR(780259107) 1,165 80,991 RPC Group P.L.C. 3,478 28,453 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- UNITED KINGDOM -- (Continued) RPS Group P.L.C. 7,727 $ 36,016 RSA Insurance Group P.L.C. 107,942 222,310 Sage Group P.L.C. (The) 22,120 119,331 * Salamander Energy P.L.C. 1,958 3,372 Savills P.L.C. 4,686 48,814 Schroders P.L.C.(0239581) 380 12,965 Schroders P.L.C.(0240549) 1,871 77,221 SDL P.L.C. 645 2,608 Senior P.L.C. 14,416 68,797 Sepura P.L.C. 4,663 10,909 Serco Group P.L.C. 11,508 102,834 Severn Trent P.L.C. 3,892 116,175 Shanks Group P.L.C. 11,026 18,667 Shire P.L.C. 2,858 126,725 SIG P.L.C. 25,559 84,337 Smith & Nephew P.L.C. 11,701 149,652 # Smith & Nephew P.L.C. Sponsored ADR 300 19,263 Smiths Group P.L.C. 6,150 141,545 Smiths News P.L.C. 6,841 23,066 Soco International P.L.C. 3,438 21,935 Spectris P.L.C. 3,029 112,157 Speedy Hire P.L.C. 20,530 21,426 Spirax-Sarco Engineering P.L.C. 1,564 73,133 Spirent Communications P.L.C. 4,616 8,180 * Sports Direct International P.L.C. 3,221 36,198 SSE P.L.C. 7,930 179,893 St Ives P.L.C. 2,904 8,400 ST Modwen Properties P.L.C. 8,462 47,791 Stagecoach Group P.L.C. 10,533 59,430 Standard Chartered P.L.C. 17,551 421,399 Standard Life P.L.C. 22,134 124,873 * SuperGroup P.L.C. 1,456 27,367 Synergy Health P.L.C. 2,281 37,869 Synthomer P.L.C. 7,356 28,682 TalkTalk Telecom Group P.L.C. 3,685 15,774 Tate & Lyle P.L.C. 9,728 123,457 Taylor Wimpey P.L.C. 102,595 181,015 Tesco P.L.C. 66,068 385,384 * Thomas Cook Group P.L.C. 48,862 112,459 Travis Perkins P.L.C. 8,735 259,757 * Trinity Mirror P.L.C. 18,781 40,091 TT electronics P.L.C. 7,362 23,498 TUI Travel P.L.C. 10,941 67,451 Tullett Prebon P.L.C. 7,287 37,119 Tullow Oil P.L.C. 1,700 25,696 UBM P.L.C. 3,452 37,787 UDG Healthcare P.L.C. 6,937 34,633 Unite Group P.L.C. 4,397 27,950 United Utilities Group P.L.C. 9,276 104,911 * Vectura Group P.L.C. 6,480 11,461 Vedanta Resources P.L.C. 2,854 48,626 Vesuvius P.L.C. 9,432 73,326 INTERNATIONAL SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ------------ UNITED KINGDOM -- (Continued) Victrex P.L.C. 229 $ 6,052 Vitec Group P.L.C. (The) 435 4,890 Vodafone Group P.L.C. 462,300 1,693,293 Weir Group P.L.C. (The) 3,757 135,696 WH Smith P.L.C. 3,220 46,470 Whitbread P.L.C. 3,257 179,106 WM Morrison Supermarkets P.L.C. 71,798 323,954 * Wolfson Microelectronics P.L.C. 1,488 3,344 Wolseley P.L.C. 2,118 114,021 WPP P.L.C. 10,469 222,371 WS Atkins P.L.C. 2,029 40,138 Xchanging P.L.C. 6,045 12,272 ------------ TOTAL UNITED KINGDOM 28,478,131 ------------ TOTAL COMMON STOCKS 148,364,417 ------------ PREFERRED STOCKS -- (0.0%) UNITED KINGDOM -- (0.0%) McBride P.L.C. 11,154 18 * Rolls-Royce Holdings P.L.C. 867,138 1,390 ------------ TOTAL UNITED KINGDOM 1,408 ------------ TOTAL PREFERRED STOCKS 1,408 ------------ RIGHTS/WARRANTS -- (0.0%) FRANCE -- (0.0%) * Groupe Fnac Rights 05/16/15 6 19 ------------ HONG KONG -- (0.0%) * New Hotel Rights 12/31/13 1,038 -- ------------ ITALY -- (0.0%) #* Hera SpA Rights 11/19/13 19,798 358 ------------ SPAIN -- (0.0%) * Banco Santander SA Rights 10/30/13 111,621 24,097 ------------ TOTAL RIGHTS/WARRANTS 24,474 ------------ SHARES/ FACE AMOUNT (000) VALUE+ ---------- ------------ SECURITIES LENDING COLLATERAL -- (7.8%) (S)@ DFA Short Term Investment Fund 1,037,165 12,000,000 @ Repurchase Agreement, Deutsche Bank Securities, Inc. 0.12%, 11/01/13 (Collateralized by $580,242 FNMA, rates ranging from 2.500% to 4.500%, maturities ranging from 04/01/27 to 10/01/43, valued at $524,724) to be repurchased at $514,437 $ 514 514,435 ------------ TOTAL SECURITIES LENDING COLLATERAL 12,514,435 ------------ TOTAL INVESTMENTS -- (100.0%) (Cost $142,394,371) $160,904,734 ============ EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO SCHEDULE OF INVESTMENTS OCTOBER 31, 2013 SHARES VALUE++ ------- ---------- COMMON STOCKS -- (90.9%) BRAZIL -- (9.2%) Abril Educacao SA 4,700 $ 67,142 AES Tiete SA 16,562 145,723 Aliansce Shopping Centers SA 34,791 337,622 All America Latina Logistica SA 137,600 491,935 Anhanguera Educacional Participacoes SA 99,891 597,340 Arezzo Industria e Comercio SA 12,628 187,836 Arteris SA 9,200 82,036 Autometal SA 12,100 91,887 * B2W Cia Digital 28,000 209,662 Banco Bradesco SA 136,484 2,198,193 # Banco Bradesco SA ADR 189,512 2,732,769 Banco do Brasil SA 159,126 2,106,319 Banco Santander Brasil SA 24,200 164,670 Banco Santander Brasil SA ADR 186,680 1,293,692 Bematech SA 13,100 45,296 * BHG SA--Brazil Hospitality Group 7,800 56,999 BM&FBovespa SA 473,125 2,666,586 BR Malls Participacoes SA 107,323 1,036,734 Brasil Brokers Participacoes SA 50,900 132,252 Brasil Insurance Participacoes e Administracao SA 12,900 116,957 * BrasilAgro--Co. Brasileira de Propriedades Agricolas 2,800 12,653 * Braskem SA Sponsored ADR 27,004 476,081 * Brazil Pharma SA 32,869 121,958 BRF SA 61,500 1,442,849 BRF SA ADR 43,834 1,027,031 * Brookfield Incorporacoes SA 157,789 98,537 CCR SA 99,100 816,861 Centrais Eletricas Brasileiras SA 46,400 147,058 # Centrais Eletricas Brasileiras SA ADR 17,139 90,837 Centrais Eletricas Brasileiras SA Sponsored ADR 27,372 86,496 CETIP SA--Mercados Organizados 44,946 496,713 # Cia Brasileira de Distribuicao Grupo Pao de Acucar ADR 14,001 705,930 Cia de Saneamento Basico do Estado de Sao Paulo 31,349 332,220 Cia de Saneamento Basico do Estado de Sao Paulo ADR 46,194 490,118 Cia de Saneamento de Minas Gerais-COPASA 19,100 309,886 Cia Energetica de Minas Gerais 11,909 105,413 Cia Energetica de Minas Gerais Sponsored ADR 55,027 493,592 Cia Hering 23,264 336,976 Cia Paranaense de Energia 2,600 26,328 # Cia Paranaense de Energia Sponsored ADR 18,785 260,736 Cia Providencia Industria e Comercio SA 2,200 8,318 # Cia Siderurgica Nacional SA Sponsored ADR 184,458 1,021,897 Cielo SA 39,777 1,206,294 * Contax Participacoes SA 3,000 24,694 Cosan SA Industria e Comercio 32,328 646,517 CPFL Energia SA 19,700 168,176 CPFL Energia SA ADR 10,790 182,135 Cremer SA 7,500 52,353 Cyrela Brazil Realty SA Empreendimentos e Participacoes 93,500 695,106 Cyrela Commercial Properties SA Empreendimentos e Participacoes 2,400 21,592 Direcional Engenharia SA 35,300 204,417 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- BRAZIL -- (Continued) Duratex SA 84,749 $ 526,480 EcoRodovias Infraestrutura e Logistica SA 47,100 319,173 EDP--Energias do Brasil SA 81,500 464,957 Embraer SA 42,200 306,576 Embraer SA ADR 27,212 799,761 Equatorial Energia SA 54,231 562,519 Estacio Participacoes SA 79,453 613,508 Eternit SA 29,366 124,067 Even Construtora e Incorporadora SA 87,000 323,007 Ez Tec Empreendimentos e Participacoes SA 18,200 266,817 * Fertilizantes Heringer SA 6,700 25,658 * Fibria Celulose SA 14,900 193,758 #* Fibria Celulose SA Sponsored ADR 81,253 1,060,352 Forjas Taurus SA 2,402 2,991 * Gafisa SA 24,200 32,577 #* Gafisa SA ADR 80,334 216,098 * General Shopping Brasil SA 5,100 21,858 Gerdau SA 38,900 258,483 Gerdau SA Sponsored ADR 235,779 1,869,727 * Gol Linhas Aereas Inteligentes SA ADR 100 517 Grendene SA 27,000 243,423 Guararapes Confeccoes SA 1,600 71,442 Helbor Empreendimentos SA 46,540 185,101 Hypermarcas SA 114,040 994,495 Iguatemi Empresa de Shopping Centers SA 27,304 313,918 * Industrias Romi SA 3,400 9,493 * International Meal Co. Holdings SA 14,300 140,858 Iochpe-Maxion SA 27,800 338,377 Itau Unibanco Holding SA 49,510 718,418 Itau Unibanco Holding SA ADR 220,980 3,405,303 JBS SA 241,288 861,435 JHSF Participacoes SA 23,700 58,934 JSL SA 19,300 131,869 Kepler Weber SA 5,372 66,760 Kroton Educacional SA 46,240 683,218 Light SA 26,598 232,871 Localiza Rent a Car SA 21,885 356,738 * Log-in Logistica Intermodal SA 19,300 81,154 Lojas Americanas SA 24,406 152,650 Lojas Renner SA 21,545 649,772 LPS Brasil Consultoria de Imoveis SA 18,700 130,676 M Dias Branco SA 6,600 309,627 Magnesita Refratarios SA 50,785 140,731 Mahle-Metal Leve SA Industria e Comercio 12,700 158,914 Marcopolo SA 1,400 3,496 * Marfrig Alimentos SA 114,350 231,205 Marisa Lojas SA 9,483 78,899 * Metalfrio Solutions SA 2,400 3,748 Mills Estruturas e Servicos de Engenharia SA 20,100 277,669 * Minerva SA 37,745 159,768 * MMX Mineracao e Metalicos SA 131,598 48,487 MRV Engenharia e Participacoes SA 97,113 417,529 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- BRAZIL -- (Continued) Multiplan Empreendimentos Imobiliarios SA 19,781 $ 463,974 Multiplus SA 10,400 128,115 Natura Cosmeticos SA 21,500 429,079 Oi SA 26,316 46,912 Oi SA ADR(670851104) 1,991 3,464 # Oi SA ADR(670851203) 141,376 244,580 * Paranapanema SA 70,114 149,035 * PDG Realty SA Empreendimentos e Participacoes 416,433 374,065 Petroleo Brasileiro SA 130,000 1,133,098 Petroleo Brasileiro SA ADR 211,598 3,688,153 # Petroleo Brasileiro SA Sponsored ADR 265,580 4,822,933 * Plascar Participacoes Industriais SA 15,900 3,674 Porto Seguro SA 36,000 451,918 Portobello SA 16,200 35,855 Positivo Informatica SA 6,400 10,768 Profarma Distribuidora de Produtos Farmaceuticos SA 3,800 30,059 QGEP Participacoes SA 35,000 169,123 Raia Drogasil SA 49,314 359,965 * Refinaria de Petroleos de Manguinhos SA 19,300 2,601 Restoque Comercio e Confeccoes de Roupas SA 27,100 80,229 Rodobens Negocios Imobiliarios SA 8,300 50,382 * Rossi Residencial SA 125,268 153,679 Santos Brasil Participacoes SA 14,700 141,814 Sao Martinho SA 22,484 316,670 SLC Agricola SA 21,000 194,847 Sonae Sierra Brasil SA 16,400 164,472 * Springs Global Participacoes SA 21,540 17,884 Sul America SA 71,552 522,676 * T4F Entretenimento SA 9,700 23,413 Technos SA 6,655 51,609 * Tecnisa SA 43,100 178,607 Tegma Gestao Logistica 7,497 74,485 Telefonica Brasil SA ADR 39,290 871,452 Tereos Internacional SA 10,800 14,246 Tim Participacoes SA 34,200 173,173 Tim Participacoes SA ADR 19,104 485,624 Totvs SA 29,400 496,580 TPI--Triunfo Participacoes e Investimentos SA 9,700 44,553 Tractebel Energia SA 25,162 428,448 Transmissora Alianca de Energia Eletrica SA 79,115 762,612 Ultrapar Participacoes SA 24,844 660,457 Ultrapar Participacoes SA Sponsored ADR 14,800 394,124 * Usinas Siderurgicas de Minas Gerais SA 18,000 91,261 Vale SA 27,000 427,391 # Vale SA Sponsored ADR(91912E105) 213,281 3,414,629 Vale SA Sponsored ADR(91912E204) 328,650 4,811,436 Valid Solucoes e Servicos de Seguranca em Meios de Pagamento e Identificacao S.A 12,740 195,890 * Vanguarda Agro SA 72,299 121,036 * Viver Incorporadora e Construtora SA 43,076 5,801 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- BRAZIL -- (Continued) WEG SA 34,571 $ 450,276 ----------- TOTAL BRAZIL 74,884,411 ----------- CHILE -- (1.5%) AES Gener SA 382,933 229,506 Aguas Andinas SA Class A 484,151 327,798 * AquaChile SA 41,763 20,771 Banco de Chile 60,056 9,166 # Banco de Chile ADR 4,218 387,339 Banco de Credito e Inversiones 6,016 351,133 # Banco Santander Chile ADR 17,999 442,055 Besalco SA 75,179 105,716 CAP SA 18,290 379,690 Cencosud SA 179,292 731,151 Cencosud SA ADR 9,745 122,690 Cia General de Electricidad SA 39,633 225,071 * Cia Sud Americana de Vapores SA 1,172,552 54,202 Colbun SA 1,221,163 302,169 Corpbanca SA 33,782,696 378,138 Corpbanca SA ADR 972 16,718 E.CL SA 127,697 199,326 Empresa Nacional de Electricidad SA Sponsored ADR 12,966 584,767 Empresas CMPC SA 197,774 588,025 Empresas COPEC SA 84,298 1,229,133 Empresas Hites SA 72,367 59,045 Empresas Iansa SA 1,240,934 52,483 * Empresas La Polar SA 163,427 33,132 Enersis SA Sponsored ADR 73,679 1,215,703 ENTEL Chile SA 29,011 447,170 Forus SA 17,290 94,762 Gasco SA 5,751 61,241 Grupo Security SA 135,206 46,930 Inversiones Aguas Metropolitanas SA 122,895 228,462 Invexans SA 1,150,142 25,283 Latam Airlines Group SA 18,810 304,382 # Latam Airlines Group SA Sponsored ADR 20,987 347,335 * Madeco SA 1,150,142 8,757 Masisa SA 769,822 56,774 Molibdenos y Metales SA 4,602 73,922 * Multiexport Foods SA 122,053 24,097 Parque Arauco SA 151,953 292,857 PAZ Corp. SA 93,709 53,195 Ripley Corp. SA 218,510 191,781 SACI Falabella 66,377 660,126 Salfacorp SA 67,934 77,229 Sigdo Koppers SA 111,976 186,880 Sociedad Matriz SAAM SA 1,699,690 170,173 Sociedad Quimica y Minera de Chile SA Sponsored ADR 6,008 165,881 Socovesa SA 139,493 39,581 Sonda SA 114,838 297,950 ----------- TOTAL CHILE 11,899,695 ----------- EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- CHINA -- (13.8%) # 361 Degrees International, Ltd. 195,000 $ 55,844 Agile Property Holdings, Ltd. 346,000 416,220 Agricultural Bank of China, Ltd. Class H 2,809,000 1,353,643 Air China, Ltd. Class H 392,000 266,890 Ajisen China Holdings, Ltd. 118,000 123,664 #* Aluminum Corp. of China, Ltd. ADR 22,775 207,252 #* Aluminum Corp. of China, Ltd. Class H 488,000 180,454 AMVIG Holdings, Ltd. 98,000 46,000 #* Angang Steel Co., Ltd. Class H 332,000 201,009 # Anhui Conch Cement Co., Ltd. Class H 207,000 723,718 Anhui Expressway Co., Ltd. Class H 172,000 96,489 Anta Sports Products, Ltd. 163,000 233,386 # Anton Oilfield Services Group 242,000 153,376 Anxin-China Holdings, Ltd. 616,000 197,823 Asia Cement China Holdings Corp. 122,000 66,731 * Asia Energy Logistics Group, Ltd. 1,900,000 20,574 Asian Citrus Holdings, Ltd. 215,000 81,355 * AVIC International Holdings, Ltd. 46,000 17,845 Bank of China, Ltd. Class H 9,858,356 4,641,410 Bank of Communications Co., Ltd. Class H 1,113,580 815,965 Baoxin Auto Group, Ltd. 78,500 80,978 Baoye Group Co., Ltd. Class H 100,000 72,356 * BaWang International Group Holding, Ltd. 182,000 10,916 BBMG Corp. Class H 291,141 208,144 Beijing Capital International Airport Co., Ltd. Class H 572,000 401,855 Beijing Capital Land, Ltd. Class H 376,000 135,406 # Beijing Enterprises Water Group, Ltd. 774,000 344,388 Beijing Jingkelong Co., Ltd. Class H 46,000 16,030 Beijing North Star Co., Ltd. Class H 222,000 49,875 * Beijing Properties Holdings, Ltd. 482,000 34,176 Belle International Holdings, Ltd. 399,000 559,513 # Billion Industrial Holdings, Ltd. 93,500 50,903 Biostime International Holdings, Ltd. 26,500 203,503 Boer Power Holdings, Ltd. 83,000 63,015 # Bosideng International Holdings, Ltd. 874,000 200,659 Brilliance China Automotive Holdings, Ltd. 274,000 477,155 #* Byd Co., Ltd. Class H 95,500 474,085 #* BYD Electronic International Co., Ltd. 297,000 139,394 C C Land Holdings, Ltd. 422,125 113,799 * Carnival Group International Holdings, Ltd. 57,000 1,543 Central China Real Estate, Ltd. 181,194 59,211 Changshouhua Food Co., Ltd. 71,000 75,096 * Chaoda Modern Agriculture Holdings, Ltd. 600,243 69,028 # Chaowei Power Holdings, Ltd. 199,000 84,501 * Chigo Holding, Ltd. 536,000 12,025 # Chiho-Tiande Group, Ltd. 82,000 30,882 China Aerospace International Holdings, Ltd. 636,000 72,980 China Agri-Industries Holdings, Ltd. 643,800 300,696 # China All Access Holdings, Ltd. 302,000 112,261 China Aoyuan Property Group, Ltd. 311,000 63,648 China Automation Group, Ltd. 134,000 28,166 China BlueChemical, Ltd. 509,143 326,615 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- CHINA -- (Continued) China CITIC Bank Corp., Ltd. Class H 1,653,000 $ 929,348 # China Coal Energy Co., Ltd. Class H 899,000 550,492 China Communications Services Corp., Ltd. Class H 556,800 344,150 China Construction Bank Corp. Class H 9,695,990 7,543,738 #* China COSCO Holdings Co., Ltd. Class H 624,000 297,063 China Datang Corp. Renewable Power Co., Ltd. Class H 565,000 114,338 China Dongxiang Group Co. 729,000 113,709 * China Eastern Airlines Corp., Ltd. Class H 450,000 154,902 * China Energine International Holdings, Ltd. 136,000 11,044 China Everbright International, Ltd. 524,000 523,725 China Everbright, Ltd. 278,000 412,322 China Fiber Optic Network System Group, Ltd. 128,000 22,769 * China Foods, Ltd. 228,000 103,557 China Gas Holdings, Ltd. 438,000 486,800 * China Glass Holdings, Ltd. 106,000 13,267 * China Green Holdings, Ltd. 144,000 16,524 * China Haidian Holdings, Ltd. 384,000 36,166 China High Precision Automation Group, Ltd. 73,000 11,487 #* China High Speed Transmission Equipment Group Co., Ltd. 349,993 187,779 China Hongqiao Group, Ltd. 199,000 125,448 China Household Holdings, Ltd. 550,000 74,487 * China Huiyuan Juice Group, Ltd. 181,500 121,491 China International Marine Containers Group Co., Ltd. Class H 17,700 33,331 # China ITS Holdings Co., Ltd. 277,000 72,506 China Lesso Group Holdings, Ltd. 215,000 137,527 China Life Insurance Co., Ltd. ADR 36,352 1,433,359 China Life Insurance Co., Ltd. Class H 97,000 256,059 China Lilang, Ltd. 88,000 56,887 China Longyuan Power Group Corp. Class H 465,000 534,393 # China Lumena New Materials Corp. 936,000 200,415 China Mengniu Dairy Co., Ltd. 176,000 770,803 China Merchants Bank Co., Ltd. Class H 886,598 1,762,906 China Merchants Holdings International Co., Ltd. 255,849 905,333 #* China Metal Recycling Holdings, Ltd. 130,581 79,413 # China Minsheng Banking Corp., Ltd. Class H 890,000 1,019,884 # China Mobile, Ltd. 38,500 400,079 # China Mobile, Ltd. Sponsored ADR 99,597 5,181,036 * China Modern Dairy Holdings, Ltd. 361,000 168,109 China Molybdenum Co., Ltd. Class H 309,000 126,069 # China National Building Material Co., Ltd. Class H 712,000 695,229 # China National Materials Co., Ltd. 395,000 86,084 * China New Town Development Co., Ltd. 416,254 38,615 China Nickel Resources Holdings Co., Ltd. 40,000 1,907 # China Oil & Gas Group, Ltd. 920,000 148,331 China Oilfield Services, Ltd. Class H 196,000 547,758 # China Overseas Grand Oceans Group, Ltd. 120,500 143,287 China Overseas Land & Investment, Ltd. 520,000 1,608,134 China Pacific Insurance Group Co., Ltd. Class H 369,800 1,333,932 # China Power International Development, Ltd. 567,000 222,225 * China Power New Energy Development Co., Ltd. 1,500,000 76,428 #* China Precious Metal Resources Holdings Co., Ltd. 854,000 137,732 * China Properties Group, Ltd. 128,000 32,968 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- CHINA -- (Continued) China Qinfa Group, Ltd. 144,000 $ 11,330 # China Railway Construction Corp., Ltd. Class H 452,500 495,142 China Railway Group, Ltd. Class H 414,000 234,318 * China Rare Earth Holdings, Ltd. 398,000 61,081 China Resources Cement Holdings, Ltd. 500,000 333,919 China Resources Gas Group, Ltd. 100,000 258,753 China Resources Land, Ltd. 258,000 747,400 China Resources Power Holdings Co., Ltd. 216,000 566,809 #* China Rongsheng Heavy Industries Group Holdings, Ltd. 852,500 101,094 China Sanjiang Fine Chemicals Co., Ltd. 181,000 80,044 China SCE Property Holdings, Ltd. 183,600 42,468 # China Shanshui Cement Group, Ltd. 566,790 201,150 China Shenhua Energy Co., Ltd. Class H 435,884 1,323,095 #* China Shipping Container Lines Co., Ltd. Class H 1,051,000 260,169 #* China Shipping Development Co., Ltd. Class H 405,654 228,981 # China Singyes Solar Technologies Holdings, Ltd. 95,000 102,950 China South City Holdings, Ltd. 614,000 191,848 China Southern Airlines Co., Ltd. Class H 228,000 83,429 China Southern Airlines Co., Ltd. Sponsored ADR 5,037 93,184 China Starch Holdings, Ltd. 395,000 11,358 China State Construction International Holdings, Ltd. 225,919 380,070 China Suntien Green Energy Corp., Ltd. Class H 363,000 126,909 China Taifeng Beddings Holdings, Ltd. 134,000 29,529 * China Taiping Insurance Holdings Co., Ltd. 222,000 346,299 China Telecom Corp., Ltd. ADR 13,120 678,042 China Telecom Corp., Ltd. Class H 144,000 75,219 #* China Tian Lun Gas Holdings, Ltd. 27,000 24,374 China Tianyi Holdings, Ltd. 108,000 17,107 China Travel International Inv HK 783,492 151,594 China Unicom Hong Kong, Ltd. 378,000 590,420 China Unicom Hong Kong, Ltd. ADR 68,815 1,073,514 * China Vanadium Titano--Magnetite Mining Co., Ltd. 249,000 39,147 China Water Affairs Group, Ltd. 266,000 99,817 * China WindPower Group, Ltd. 664,648 26,997 China Wireless Technologies, Ltd. 296,000 110,682 #* China Yurun Food Group, Ltd. 416,000 276,073 * China ZhengTong Auto Services Holdings, Ltd. 251,000 175,425 * China Zhongwang Holdings, Ltd. 542,318 177,006 #* Chinasoft International, Ltd. 186,000 54,464 #* ChinaVision Media Group, Ltd. 180,000 11,029 * Chongqing Iron & Steel Co., Ltd. Class H 190,000 26,975 # Chongqing Machinery & Electric Co., Ltd. Class H 476,000 58,924 Chongqing Rural Commercial Bank Class H 608,000 307,155 Chu Kong Petroleum & Natural Gas Steel Pipe Holdings, Ltd. 92,000 34,399 CIMC Enric Holdings, Ltd. 124,000 174,618 * Citic 21CN Co., Ltd. 240,000 14,879 * CITIC Dameng Holdings, Ltd. 40,000 3,247 # CITIC Pacific, Ltd. 385,433 546,671 * CITIC Resources Holdings, Ltd. 704,000 99,006 # CITIC Securities Co., Ltd. Class H 187,000 391,632 Clear Media, Ltd. 22,000 16,931 CNOOC, Ltd. 548,000 1,111,816 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- CHINA -- (Continued) CNOOC, Ltd. ADR 16,647 $3,367,855 #* Comba Telecom Systems Holdings, Ltd. 283,845 93,325 * Comtec Solar Systems Group, Ltd. 104,000 22,776 COSCO Pacific, Ltd. 483,778 702,177 Country Garden Holdings Co., Ltd. 925,000 636,686 CP Pokphand Co., Ltd. 820,000 72,999 # CPMC Holdings, Ltd. 109,000 87,115 * DaChan Food Asia, Ltd. 57,000 7,132 # Dah Chong Hong Holdings, Ltd. 218,000 186,172 Dalian Port PDA Co., Ltd. Class H 244,000 56,625 # Daphne International Holdings, Ltd. 212,000 112,987 # Datang International Power Generation Co., Ltd. Class H 526,000 240,916 #* DBA Telecommunication Asia Holdings, Ltd. 112,000 29,325 Digital China Holdings, Ltd. 225,000 296,046 Dongfang Electric Corp., Ltd. Class H 79,800 128,164 Dongjiang Environmental Co., Ltd. Class H 9,000 25,415 Dongyue Group 326,000 153,460 Embry Holdings, Ltd. 14,000 8,672 ENN Energy Holdings, Ltd. 138,000 813,736 EVA Precision Industrial Holdings, Ltd. 420,000 60,148 # Evergrande Real Estate Group, Ltd. 1,783,000 754,555 Fantasia Holdings Group Co., Ltd. 495,000 84,840 First Tractor Co., Ltd. Class H 108,000 77,142 Fosun International, Ltd. 398,000 384,095 Franshion Properties China, Ltd. 963,120 335,817 # Fufeng Group, Ltd. 236,400 100,657 #* GCL-Poly Energy Holdings, Ltd. 1,875,000 572,872 # Geely Automobile Holdings, Ltd. 835,000 421,989 * Global Bio-Chem Technology Group Co., Ltd. 482,800 37,331 * Glorious Property Holdings, Ltd. 793,000 126,831 # Golden Eagle Retail Group, Ltd. 114,000 168,988 Golden Meditech Holdings, Ltd. 408,000 48,955 Goldlion Holdings, Ltd. 61,152 29,900 # GOME Electrical Appliances Holding, Ltd. 3,382,940 527,916 # Good Friend International Holdings, Inc. 22,000 7,505 Goodbaby International Holdings, Ltd. 131,000 64,870 Great Wall Motor Co., Ltd. Class H 91,000 533,698 * Great Wall Technology Co., Ltd. Class H 83,300 24,067 Greatview Aseptic Packaging Co., Ltd. 108,000 68,060 Greenland Hong Kong Holdings, Ltd. 88,000 62,176 # Greentown China Holdings, Ltd. 182,500 353,886 Guangdong Investment, Ltd. 452,000 388,518 Guangshen Railway Co., Ltd. Class H 110,000 57,970 Guangshen Railway Co., Ltd. Sponsored ADR 6,762 177,841 Guangzhou Automobile Group Co., Ltd. Class H 589,740 699,180 Guangzhou R&F Properties Co., Ltd. 256,400 449,221 Guangzhou Shipyard International Co., Ltd. Class H 67,600 99,920 Guodian Technology & Environment Group Co., Ltd. Class H 125,000 31,787 Haier Electronics Group Co., Ltd. 111,000 236,656 Hainan Meilan International Airport Co., Ltd. Class H 65,000 68,647 Haitian International Holdings, Ltd. 84,000 202,479 #* Hanergy Solar Group, Ltd. 3,120,000 530,991 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- CHINA -- (Continued) * Heng Tai Consumables Group, Ltd. 1,301,742 $ 24,019 # Hengan International Group Co., Ltd. 66,000 808,566 # Hengdeli Holdings, Ltd. 563,200 133,676 * Hi Sun Technology China, Ltd. 273,000 74,933 #* Hidili Industry International Development, Ltd. 374,000 62,107 # Hilong Holding, Ltd. 193,000 128,372 * Hisense Kelon Electrical Holdings Co., Ltd. Class H 72,000 67,663 HKC Holdings, Ltd. 1,068,098 37,197 # Honghua Group, Ltd. 256,000 77,929 # Hopewell Highway Infrastructure, Ltd. 267,972 132,035 * Hopson Development Holdings, Ltd. 199,000 244,049 * Hua Lien International Holding Co., Ltd. 304,000 18,170 Huadian Power International Corp., Ltd. Class H 220,000 101,904 Huaneng Power International, Inc. Class H 136,000 141,432 Huaneng Power International, Inc. Sponsored ADR 6,108 252,505 Huaneng Renewables Corp., Ltd. Class H 594,000 229,730 * Huili Resources Group, Ltd. 48,000 11,382 * Hunan Nonferrous Metal Corp., Ltd. Class H 420,000 116,464 Hutchison Harbour Ring, Ltd. 802,000 63,082 Industrial & Commercial Bank of China, Ltd. Class H 9,815,017 6,867,912 Inspur International, Ltd. 825,000 34,046 * Interchina Holdings Co. 910,000 64,540 Intime Retail Group Co., Ltd. 222,500 263,413 Jiangsu Expressway Co., Ltd. Class H 230,000 288,578 # Jiangxi Copper Co., Ltd. Class H 312,000 598,968 * Jinchuan Group International Resources Co., Ltd. 140,000 20,925 Jingwei Textile Machinery Class H 50,000 33,048 # Ju Teng International Holdings, Ltd. 250,000 181,874 * Kai Yuan Holdings, Ltd. 1,320,000 32,372 * Kaisa Group Holdings, Ltd. 396,000 120,705 Kingboard Chemical Holdings, Ltd. 235,900 613,953 Kingboard Laminates Holdings, Ltd. 270,973 111,770 * Kingdee International Software Group Co., Ltd. 526,000 169,561 # Kingsoft Corp., Ltd. 133,000 329,983 Kunlun Energy Co., Ltd. 270,000 442,378 KWG Property Holding, Ltd. 369,830 240,862 # Labixiaoxin Snacks Group, Ltd. 73,000 37,827 Lai Fung Holdings, Ltd. 1,735,000 43,593 Le Saunda Holdings, Ltd. 84,000 38,347 Lee & Man Chemical Co., Ltd. 28,000 12,632 Lee & Man Paper Manufacturing, Ltd. 388,000 277,776 Lenovo Group, Ltd. 526,000 562,096 * Leoch International Technology, Ltd. 290,000 34,031 #* Li Ning Co., Ltd. 296,249 269,736 # Lianhua Supermarket Holdings Co., Ltd. Class H 110,200 70,719 Lingbao Gold Co., Ltd. Class H 72,000 15,764 * LK Technology Holdings, Ltd. 17,500 3,456 Longfor Properties Co., Ltd. 230,000 375,886 * Lonking Holdings, Ltd. 650,000 131,666 * Loudong General Nice Resources China Holdings, Ltd. 399,600 26,251 #* Maanshan Iron & Steel Class H 540,000 137,871 Magic Holdings International, Ltd. 131,000 103,582 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- CHINA -- (Continued) Maoye International Holdings, Ltd. 441,000 $ 84,674 #* Metallurgical Corp. of China, Ltd. Class H 665,000 136,428 # Microport Scientific Corp. 77,000 52,248 MIE Holdings Corp. 306,000 65,561 MIN XIN Holdings, Ltd. 44,000 23,281 * Mingfa Group International Co., Ltd. 306,000 82,866 Minmetals Land, Ltd. 347,644 49,767 Minth Group, Ltd. 162,000 338,879 #* MMG, Ltd. 464,000 103,413 * Nan Hai Corp., Ltd. 6,200,000 51,990 Nature Flooring Holding Co., Ltd. 19,000 3,457 * New China Life Insurance Co., Ltd. Class H 51,100 144,050 New World China Land, Ltd. 677,189 372,692 New World Department Store China, Ltd. 120,000 69,354 # Nine Dragons Paper Holdings, Ltd. 457,000 376,478 * North Mining Shares Co., Ltd. 1,180,000 52,527 NVC Lighting Holdings, Ltd. 403,000 98,218 O-Net Communications Group, Ltd. 65,000 12,318 Overseas Chinese Town Asia Holdings, Ltd. 40,000 18,058 Pacific Online, Ltd. 44,000 20,443 # Parkson Retail Group, Ltd. 467,000 159,717 * PAX Global Technology, Ltd. 75,000 31,821 # Peak Sport Products Co., Ltd. 199,000 45,687 Phoenix Satellite Television Holdings, Ltd. 170,000 59,871 PICC Property & Casualty Co., Ltd. Class H 396,760 605,335 Ping An Insurance Group Co. of China, Ltd. Class H 163,000 1,285,296 Poly Property Group Co., Ltd. 602,111 370,701 Ports Design, Ltd. 104,000 77,449 * Pou Sheng International Holdings, Ltd. 364,687 19,267 Powerlong Real Estate Holdings, Ltd. 326,000 67,759 # Prince Frog International Holdings, Ltd. 58,000 34,861 * Prosperity International Holdings HK, Ltd. 280,000 10,657 Qunxing Paper Holdings Co., Ltd. 124,416 32,384 Real Nutriceutical Group, Ltd. 224,000 58,068 Regent Manner International Holdings, Ltd. 151,000 26,086 #* Renhe Commercial Holdings Co., Ltd. 3,372,570 189,740 * Richly Field China Development, Ltd. 150,000 -- Road King Infrastructure, Ltd. 47,000 47,361 Samson Holding, Ltd. 239,000 33,260 Sany Heavy Equipment International Holdings Co., Ltd. 274,000 79,466 #* Semiconductor Manufacturing International Corp. 5,259,000 389,048 * Semiconductor Manufacturing International Corp. ADR 19,489 71,330 Shandong Chenming Paper Holdings, Ltd. Class H 81,500 33,325 Shandong Molong Petroleum Machinery Co., Ltd. Class H 46,400 15,673 Shandong Weigao Group Medical Polymer Co., Ltd. Class H 216,000 202,267 #* Shanghai Industrial Urban Development Group, Ltd. 454,000 112,494 Shanghai Jin Jiang International Hotels Group Co., Ltd. Class H 332,000 80,140 Shanghai Prime Machinery Co., Ltd. Class H 118,000 13,850 * Shanghai Zendai Property, Ltd. 205,000 4,031 Shengli Oil & Gas Pipe Holdings, Ltd. 144,000 7,808 Shenguan Holdings Group, Ltd. 164,000 73,247 Shenzhen Expressway Co., Ltd. Class H 158,000 66,849 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- CHINA -- (Continued) Shenzhen International Holdings, Ltd. 2,767,500 $ 339,055 Shenzhen Investment, Ltd. 872,471 349,117 Shenzhou International Group Holdings, Ltd. 73,000 250,290 Shimao Property Holdings, Ltd. 364,356 912,906 #* Shougang Concord International Enterprises Co., Ltd. 1,232,000 61,123 # Shougang Fushan Resources Group, Ltd. 980,000 328,744 Shui On Land, Ltd. 1,209,021 420,114 Sichuan Expressway Co., Ltd. Class H 284,000 84,626 * Sijia Group Co. 30,000 5,301 Silver Grant International 160,000 21,864 * Sino Oil And Gas Holdings, Ltd. 3,375,000 92,429 # Sino-Ocean Land Holdings, Ltd. 959,750 608,577 Sinofert Holdings, Ltd. 686,000 111,385 SinoMedia Holding, Ltd. 54,644 50,545 #* Sinopec Yizheng Chemical Fibre Co., Ltd. Class H 224,000 62,059 Sinopharm Group Co., Ltd. Class H 128,400 346,958 * Sinopoly Battery, Ltd. 760,000 36,267 # Sinotrans Shipping, Ltd. 454,173 149,371 Sinotrans, Ltd. Class H 435,000 107,166 Sinotruk Hong Kong, Ltd. 220,000 115,204 SITC International Holdings Co., Ltd. 225,000 95,424 Skyworth Digital Holdings, Ltd. 585,291 283,929 * SMI Corp., Ltd. 560,000 14,394 # SOHO China, Ltd. 528,912 464,319 * Solargiga Energy Holdings, Ltd. 265,000 12,648 Sparkle Roll Group, Ltd. 456,000 30,611 Springland International Holdings, Ltd. 106,000 58,000 * SRE Group, Ltd. 886,857 31,981 Sun Art Retail Group, Ltd. 217,500 355,694 # Sunac China Holdings, Ltd. 377,000 261,620 # Sunny Optical Technology Group Co., Ltd. 121,000 117,819 TCC International Holdings, Ltd. 413,795 153,159 * TCL Communication Technology Holdings, Ltd. 202,000 183,888 TCL Multimedia Technology Holdings, Ltd. 148,000 60,927 * Tech Pro Technology Development, Ltd. 130,000 62,700 # Tencent Holdings, Ltd. 66,500 3,627,986 # Texhong Textile Group, Ltd. 50,000 87,487 Tian An China Investment 62,000 51,173 Tian Shan Development Holding, Ltd. 36,000 12,025 Tiangong International Co., Ltd. 344,000 88,273 Tianjin Capital Environmental Protection Group Co., Ltd. Class H 112,000 45,364 #* Tianjin Development Hldgs, Ltd. 104,000 69,078 Tianjin Port Development Holdings, Ltd. 500,000 87,045 Tianneng Power International, Ltd. 200,000 75,548 Tingyi Cayman Islands Holding Corp. 172,000 485,938 Tomson Group, Ltd. 66,969 20,745 * Tonic Industries Holdings, Ltd. 94,000 27,940 * Tonly Electronics Holdings, Ltd. 14,800 8,724 Towngas China Co., Ltd. 214,000 211,241 TPV Technology, Ltd. 195,412 41,348 Travelsky Technology, Ltd. Class H 220,500 188,594 # Truly International Holdings 359,140 229,219 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ------------ CHINA -- (Continued) # Uni-President China Holdings, Ltd. 135,639 $ 135,174 #* United Energy Group, Ltd. 640,000 100,016 Vinda International Holdings, Ltd. 113,000 160,584 * VODone, Ltd. 765,400 66,135 Want Want China Holdings, Ltd. 516,000 790,732 Wasion Group Holdings, Ltd. 172,000 107,758 Weichai Power Co., Ltd. Class H 102,280 409,387 Weiqiao Textile Co. Class H 134,500 82,016 Welling Holding, Ltd. 294,800 61,975 # West China Cement, Ltd. 784,000 117,238 * Winsway Coking Coal Holdings, Ltd. 405,000 30,785 Wumart Stores, Inc. Class H 83,000 138,221 Xiamen International Port Co., Ltd. Class H 194,000 26,283 Xiangyu Dredging Holdings, Ltd. 68,000 17,356 Xingda International Holdings, Ltd. 298,000 181,084 # Xinjiang Goldwind Science & Technology Co., Ltd. Class H 116,800 119,246 #* Xinjiang Xinxin Mining Industry Co., Ltd. Class H 236,000 37,063 XTEP International Holdings 224,500 110,643 * Yanchang Petroleum International, Ltd. 1,280,000 56,153 # Yanzhou Coal Mining Co., Ltd. Class H 282,000 292,159 # Yanzhou Coal Mining Co., Ltd. Sponsored ADR 20,088 205,902 Yingde Gases Group Co., Ltd. 201,500 206,339 Yip's Chemical Holdings, Ltd. 88,000 73,950 Youyuan International Holdings, Ltd. 57,200 16,636 Yuanda China Holdings, Ltd. 334,000 28,402 Yuexiu Property Co., Ltd. 1,516,400 422,700 Yuexiu Transport Infrastructure, Ltd. 126,752 66,517 Yuzhou Properties Co. 229,200 56,185 Zall Development Group, Ltd. 39,000 15,846 # Zhaojin Mining Industry Co., Ltd. 202,500 162,766 Zhejiang Expressway Co., Ltd. Class H 296,000 270,238 Zhengzhou Coal Mining Machinery Group Co., Ltd. Class H 37,200 22,450 * Zhong An Real Estate, Ltd. 151,000 29,963 # Zhongsheng Group Holdings, Ltd. 120,000 191,157 Zhuzhou CSR Times Electric Co., Ltd. Class H 81,750 290,269 # Zijin Mining Group Co., Ltd. Class H 1,126,000 262,246 # Zoomlion Heavy Industry Science and Technology Co., Ltd. 300,800 278,253 * ZTE Corp. Class H 152,800 333,002 ------------ TOTAL CHINA 112,401,035 ------------ COLOMBIA -- (0.7%) Almacenes Exito SA 43,134 722,566 Banco de Bogota SA 4,331 153,388 Bancolombia SA 21,301 293,791 Bancolombia SA Sponsored ADR 16,933 950,449 Cementos Argos SA 66,209 349,527 Constructora Conconcreto SA 2,809 2,078 # Ecopetrol SA Sponsored ADR 38,708 1,833,211 Empresa de Energia de Bogota SA 161,111 135,369 Empresa de Telecomunicaciones de Bogota 32,541 6,672 * Fabricato SA 926,524 7,026 Grupo Aval Acciones y Valores 80,087 56,288 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- COLOMBIA -- (Continued) Grupo de Inversiones Suramericana SA 6,730 $ 133,366 Grupo Nutresa SA 4,929 70,327 Interconexion Electrica SA ESP 73,842 365,240 Isagen SA ESP 206,869 330,142 Mineros SA 5,269 9,481 ---------- TOTAL COLOMBIA 5,418,921 ---------- CZECH REPUBLIC -- (0.3%) CEZ A.S. 25,093 722,093 Komercni Banka A.S. 3,698 916,024 Pegas Nonwovens SA 3,696 114,709 Telefonica Czech Republic A.S. 22,731 370,639 * Unipetrol A.S. 17,641 158,098 ---------- TOTAL CZECH REPUBLIC 2,281,563 ---------- EGYPT -- (0.1%) Commercial International Bank Egypt S.A.E. GDR 45,174 261,268 * Egyptian Financial Group-Hermes Holding GDR 926 1,799 * Global Telecom Holding GDR 63,232 213,989 ---------- TOTAL EGYPT 477,056 ---------- HONG KONG -- (0.0%) * Newton Resources, Ltd. 220,000 16,177 ---------- HUNGARY -- (0.3%) * Danubius Hotel and SpA P.L.C. 1,883 41,137 #* FHB Mortgage Bank P.L.C. 6,863 11,198 Magyar Telekom Telecommunications P.L.C. 131,598 180,443 MOL Hungarian Oil and Gas P.L.C. 7,734 528,803 OTP Bank P.L.C. 69,941 1,450,938 * PannErgy 2,746 3,731 ---------- TOTAL HUNGARY 2,216,250 ---------- INDIA -- (5.4%) * 3M India, Ltd. 173 9,308 Aban Offshore, Ltd. 6,571 27,219 ABB India, Ltd. 10,920 111,024 * ABG Shipyard, Ltd. 2,790 13,248 ACC, Ltd. 16,466 303,931 Adani Enterprises, Ltd. 65,640 221,471 Adani Ports and Special Economic Zone 70,656 166,922 * Adani Power, Ltd. 217,292 114,808 Aditya Birla Nuvo, Ltd. 14,981 297,958 * Advanta Ltd. 4,030 7,451 Agro Tech Foods, Ltd. 1,273 10,749 AIA Engineering, Ltd. 7,091 44,828 Akzo Nobel India, Ltd. 2,710 36,749 Allahabad Bank 36,686 54,671 * Alok Industries, Ltd. 324,602 41,973 Amara Raja Batteries, Ltd. 18,730 95,584 Ambuja Cements, Ltd. 179,763 547,432 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- INDIA -- (Continued) Amtek Auto, Ltd. 25,935 $ 27,340 Amtek India, Ltd. 21,468 22,557 Anant Raj, Ltd. 31,479 28,349 Andhra Bank 43,995 41,981 Apollo Tyres, Ltd. 55,449 61,562 Arvind, Ltd. 58,551 101,305 Ashok Leyland, Ltd. 419,001 117,812 Asian Hotels East, Ltd. 2,150 4,786 Asian Paints, Ltd. 39,262 343,747 Axis Bank, Ltd. 60,978 1,214,145 Bajaj Auto, Ltd. 9,468 327,992 Bajaj Corp., Ltd. 4,470 17,810 Bajaj Electricals, Ltd. 7,154 19,226 Bajaj Finance, Ltd. 500 11,088 Bajaj Finserv, Ltd. 11,415 119,015 Bajaj Hindusthan, Ltd. 38,120 8,416 Bajaj Holdings and Investment, Ltd. 7,107 95,587 Balkrishna Industries, Ltd. 2,912 13,050 Ballarpur Industries, Ltd. 50,572 10,558 Balmer Lawrie & Co., Ltd. 1,321 6,650 Balrampur Chini Mills, Ltd. 46,572 31,070 Bank of Baroda 23,606 247,654 Bank of India 41,486 142,910 Bank Of Maharashtra 21,459 13,747 Bannari Amman Sugars, Ltd. 894 10,925 BASF India, Ltd. 2,566 24,966 Bata India, Ltd. 2,638 39,179 BEML, Ltd. 2,112 6,460 Berger Paints India, Ltd. 24,846 92,686 BGR Energy Systems, Ltd. 7,400 13,914 Bharat Forge, Ltd. 31,776 154,114 Bharat Petroleum Corp., Ltd. 42,234 246,615 Bharti Airtel, Ltd. 128,096 763,323 Bhushan Steel, Ltd. 21,056 164,580 Birla Corp., Ltd. 7,647 26,743 Blue Dart Express, Ltd. 482 22,069 Blue Star, Ltd. 2,815 6,930 Bombay Dyeing & Manufacturing Co., Ltd. 21,605 24,021 Bosch, Ltd. 1,258 179,782 Britannia Industries, Ltd. 9,003 137,378 Cairn India, Ltd. 126,288 655,812 Canara Bank 33,813 142,458 Carborundum Universal, Ltd. 35,694 65,813 Central Bank Of India 87,768 77,747 Century Plyboards India, Ltd. 6,270 2,840 Century Textiles & Industries, Ltd. 17,005 75,609 CESC, Ltd. 25,635 155,482 Chambal Fertilizers & Chemicals, Ltd. 39,240 22,190 * Chennai Petroleum Corp., Ltd. 6,272 5,368 City Union Bank, Ltd. 65,932 51,644 Clariant Chemicals India, Ltd. 1,428 13,657 CMC, Ltd. 2,279 50,028 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- INDIA -- (Continued) Colgate-Palmolive India, Ltd. 6,962 $140,299 Container Corp. Of India 14,177 175,076 Coromandel International, Ltd. 20,615 74,363 Corp. Bank 12,908 60,125 Crompton Greaves, Ltd. 80,947 139,035 Cummins India, Ltd. 14,470 93,088 Dabur India, Ltd. 79,729 230,474 Dalmia Bharat, Ltd. 25,540 49,958 DB Corp., Ltd. 3,444 14,825 * DB Realty, Ltd. 19,776 19,639 DCM Shriram Consolidated 36,958 33,289 * DEN Networks, Ltd. 11,158 26,860 Dena Bank 27,020 23,580 * Development Credit Bank, Ltd. 48,224 40,193 * Dish TV India, Ltd. 113,898 99,403 Divi's Laboratories, Ltd. 11,111 175,663 DLF, Ltd. 120,541 297,062 eClerx Services, Ltd. 2,819 45,569 * Educomp Solutions, Ltd. 11,439 4,439 Eicher Motors, Ltd. 2,160 139,082 EID Parry India, Ltd. 14,037 32,651 EIH, Ltd. 28,592 25,569 Electrosteel Castings, Ltd. 5,269 1,164 Emami, Ltd. 8,060 65,042 Engineers India, Ltd. 17,800 51,229 Entertainment Network India, Ltd. 2,514 13,103 * Era Infra Engineering, Ltd. 26,022 16,051 Eros International Media, Ltd. 7,714 19,797 Escorts, Ltd. 17,545 27,607 Ess Dee Aluminium, Ltd. 5,402 44,621 * Essar Oil, Ltd. 118,394 100,330 Essar Ports, Ltd. 25,367 25,184 Exide Industries, Ltd. 77,107 156,305 FAG Bearings India, Ltd. 3,749 82,114 Federal Bank, Ltd. 216,870 290,909 * Federal-Mogul Goetze India, Ltd. 2,252 7,212 Financial Technologies India, Ltd. 5,623 15,872 Finolex Cables, Ltd. 4,219 4,153 Finolex Industries, Ltd. 8,962 18,781 GAIL India, Ltd. 92,452 529,726 Gateway Distriparks, Ltd. 8,229 15,236 Gillette India, Ltd. 1,390 47,183 * Gitanjali Gems, Ltd. 13,227 14,017 GMR Infrastructure, Ltd. 393,753 138,843 Godrej Consumer Products, Ltd. 16,155 227,532 Godrej Industries, Ltd. 26,847 128,556 Godrej Properties, Ltd. 5,788 34,444 Graphite India, Ltd. 5,828 7,159 Grasim Industries, Ltd. 3,807 174,251 Gravita India, Ltd. 2,707 1,151 Great Eastern Shipping Co., Ltd. (The) 13,772 62,376 Greaves Cotton, Ltd. 20,113 19,616 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- INDIA -- (Continued) Gruh Finance, Ltd. 10,950 $ 41,238 Gujarat Alkalies & Chemicals, Ltd. 7,954 20,840 Gujarat Fluorochemicals, Ltd. 5,234 21,160 Gujarat Mineral Development Corp., Ltd. 22,860 38,248 Gujarat Narmada Valley Fertilizers & Chemicals, Ltd. 14,377 14,405 * Gujarat NRE Coke, Ltd. 127,013 26,895 * Gujarat Pipavav Port, Ltd. 62,657 50,910 Gujarat State Fertilisers & Chemicals, Ltd. 32,118 31,197 Gujarat State Petronet, Ltd. 56,483 51,422 * GVK Power & Infrastructure, Ltd. 350,798 41,367 * Hathway Cable & Datacom, Ltd. 14,049 65,054 Havells India, Ltd. 10,422 125,626 * HCL Infosystems, Ltd. 30,430 11,633 HCL Technologies, Ltd. 36,457 648,563 HDFC Bank, Ltd. 195,532 2,174,850 HEG, Ltd. 2,331 6,527 * HeidelbergCement India, Ltd. 23,375 14,255 Hero Motocorp, Ltd. 5,914 199,331 * Hexa Tradex, Ltd. 6,867 1,566 Hexaware Technologies, Ltd. 81,422 175,422 * Himachal Futuristic Communications, Ltd. 7,709 1,072 Himadri Chemicals & Industries, Ltd. 13,920 3,475 Hindalco Industries, Ltd. 416,317 780,746 * Hindustan Construction Co., Ltd. 110,597 25,486 Hindustan Petroleum Corp., Ltd. 28,016 91,706 Honeywell Automation India, Ltd. 639 25,722 * Housing Development & Infrastructure, Ltd. 65,427 45,506 HT Media, Ltd. 22,426 30,172 ICICI Bank, Ltd. 7,251 131,649 ICICI Bank, Ltd. Sponsored ADR 32,663 1,218,983 IDBI Bank, Ltd. 62,148 68,364 Idea Cellular, Ltd. 165,313 462,916 IDFC, Ltd. 93,711 161,950 India Cements, Ltd. 71,086 57,809 India Infoline, Ltd. 51,784 47,993 Indiabulls Housing Finance, Ltd. 48,033 165,101 Indian Bank 26,736 36,676 Indian Hotels Co., Ltd. 123,579 98,535 Indian Oil Corp., Ltd. 78,738 259,735 Indian Overseas Bank 64,284 53,292 Indraprastha Gas, Ltd. 19,290 86,353 IndusInd Bank, Ltd. 51,034 369,464 Info Edge India, Ltd. 6,020 38,251 Infosys, Ltd. 25,190 1,341,341 Infosys, Ltd. Sponsored ADR 31,765 1,685,451 Infotech Enterprises, Ltd. 24,161 98,855 ING Vysya Bank, Ltd. 11,641 111,752 Ingersoll-Rand India, Ltd. 1,145 6,186 IRB Infrastructure Developers, Ltd. 30,070 39,295 Jagran Prakashan, Ltd. 18,837 26,186 Jain Irrigation Systems, Ltd. 62,912 68,466 Jaiprakash Associates, Ltd. 308,397 239,056 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- INDIA -- (Continued) * Jaiprakash Power Ventures, Ltd. 256,079 $ 76,681 Jammu & Kashmir Bank, Ltd. 7,410 158,272 Jaypee Infratech, Ltd. 74,798 21,795 JBF Industries, Ltd. 3,221 4,252 * Jet Airways India, Ltd. 5,856 32,447 Jindal Saw, Ltd. 32,581 25,264 * Jindal Stainless, Ltd. 8,727 5,445 Jindal Steel & Power, Ltd. 102,920 403,140 JK Cement, Ltd. 3,293 10,384 JK Lakshmi Cement, Ltd. 13,600 14,889 JM Financial, Ltd. 63,370 28,712 JSW Energy, Ltd. 188,694 142,351 JSW Steel, Ltd. 35,027 490,785 * Jubilant Foodworks, Ltd. 6,794 134,455 Jyothy Laboratories, Ltd. 16,507 49,995 Kajaria Ceramics, Ltd. 4,476 17,581 Kansai Nerolac Paints, Ltd. 826 15,461 Karnataka Bank, Ltd. 43,127 71,218 Karur Vysya Bank, Ltd. 10,840 60,436 Kaveri Seed Co., Ltd. 1,527 39,519 Kesoram Industries, Ltd. 15,907 15,739 Kirloskar Industries, Ltd. 1,617 6,741 Kirloskar Oil Engines, Ltd. 41,696 101,437 Kotak Mahindra Bank, Ltd. 70,836 868,755 KPIT Cummins Infosystems, Ltd. 32,244 76,549 Lakshmi Machine Works, Ltd. 596 22,807 Lakshmi Vilas Bank, Ltd. 12,640 15,060 * Lanco Infratech, Ltd. 258,577 25,831 Larsen & Toubro, Ltd. 52,619 833,002 Larsen & Toubro, Ltd. GDR 29,689 454,634 LIC Housing Finance, Ltd. 55,062 201,608 Maharashtra Seamless, Ltd. 10,478 27,095 Mahindra Holidays & Resorts India, Ltd. 1,757 6,187 Mahindra Lifespace Developers, Ltd. 1,102 7,677 Maruti Suzuki India, Ltd. 16,017 426,672 McLeod Russel India, Ltd. 17,365 77,433 MindTree, Ltd. 5,634 126,962 MOIL, Ltd. 4,932 18,746 Monnet Ispat & Energy, Ltd. 4,518 9,592 Monsanto India, Ltd. 916 10,433 Motherson Sumi Systems, Ltd. 32,044 139,979 Motilal Oswal Financial Services, Ltd. 1,571 1,798 Mphasis, Ltd. 21,769 149,819 MRF, Ltd. 381 97,039 National Aluminium Co., Ltd. 90,419 53,933 Navneet Education, Ltd. 11,667 10,295 NCC, Ltd. 56,278 23,791 Nestle India, Ltd. 2,571 234,377 NHPC, Ltd. 573,450 168,572 NIIT Technologies, Ltd. 9,921 45,062 Nitin Fire Protection Industries, Ltd. 12,230 12,107 NTPC, Ltd. 154,802 374,768 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- INDIA -- (Continued) Oberoi Realty, Ltd. 9,617 $ 29,531 OMAXE, Ltd. 18,909 43,227 Opto Circuits India, Ltd. 27,524 10,293 * Oracle Financial Services Software, Ltd. 4,537 236,259 Orient Cement Ltd. 10,368 6,340 Oriental Bank of Commerce 23,485 68,862 Orissa Minerals Development Co., Ltd. 190 6,575 Page Industries, Ltd. 275 20,038 * Parsvnath Developers, Ltd. 25,750 10,971 Peninsula Land, Ltd. 17,769 8,871 Persistent Systems, Ltd. 2,627 34,700 Petronet LNG, Ltd. 52,721 105,925 Phoenix Mills, Ltd. 4,470 17,004 Pidilite Industries, Ltd. 30,910 144,759 * Pipavav Defence & Offshore Engineering Co., Ltd. 43,598 36,521 Polaris Financial Technology, Ltd. 18,746 43,691 Power Grid Corp. of India, Ltd. 198,866 327,065 Prestige Estates Projects, Ltd. 23,723 55,262 * Prism Cement, Ltd. 30,789 13,388 Procter & Gamble Hygiene & Health Care, Ltd. 890 39,864 PTC India, Ltd. 73,513 66,951 * Punj Lloyd, Ltd. 67,418 30,879 Punjab National Bank 2,000 17,793 Rain Industries, Ltd. 24,198 14,258 Rallis India, Ltd. 29,193 75,448 Ramco Cements, Ltd. (The) 20,370 58,793 Raymond, Ltd. 15,056 65,359 Redington India, Ltd. 41,130 41,381 REI Agro, Ltd. 150,380 15,641 Reliance Capital, Ltd. 28,917 174,853 Reliance Communications, Ltd. 197,305 474,459 Reliance Infrastructure, Ltd. 35,805 251,853 * Reliance Power, Ltd. 241,272 287,459 Rolta India, Ltd. 48,545 49,589 Ruchi Soya Industries, Ltd. 18,765 10,673 Sadbhav Engineering, Ltd. 3,951 4,080 * Schneider Electric Infrastructure, Ltd. 7,319 7,663 Sesa Sterlite, Ltd. 165,480 541,235 * Sesa Sterlite, Ltd. ADR 4,742 61,177 * Shipping Corp. of India, Ltd. 48,415 27,323 Shoppers Stop, Ltd. 4,025 22,397 Shree Cement, Ltd. 2,106 151,821 Shree Renuka Sugars, Ltd. 152,594 56,066 Shriram Transport Finance Co., Ltd. 12,944 129,442 Sintex Industries, Ltd. 54,687 29,130 SJVN, Ltd. 106,096 33,182 SKF India, Ltd. 3,672 35,768 Sobha Developers, Ltd. 16,355 82,511 Solar Industries India, Ltd. 979 15,857 South Indian Bank, Ltd. 167,881 57,742 SRF, Ltd. 5,322 14,171 * Star Ferro and Cement, Ltd. 6,270 2,347 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- INDIA -- (Continued) State Bank of Bikaner & Jaipur 3,700 $ 19,512 State Bank of India 27,314 797,901 State Bank of India GDR 1,197 70,185 Steel Authority of India, Ltd. 283,761 286,764 Sterlite Technologies, Ltd. 29,094 9,829 Sun TV Network, Ltd. 22,730 155,107 Supreme Industries, Ltd. 5,709 36,352 * Suzlon Energy, Ltd. 336,172 52,464 Syndicate Bank 47,437 63,226 Tata Chemicals, Ltd. 30,374 132,552 Tata Communications, Ltd. 10,342 44,461 Tata Consultancy Services, Ltd. 43,880 1,504,777 Tata Global Beverages, Ltd. 123,030 328,268 Tata Investment Corp., Ltd. 5,943 38,937 Tata Motors, Ltd. 77,313 479,223 Tata Motors, Ltd. Sponsored ADR 24,475 766,557 Tata Power Co., Ltd. 214,606 286,661 Tata Steel, Ltd. 109,735 601,414 * Tata Teleservices Maharashtra, Ltd. 103,397 11,822 Tech Mahindra, Ltd. 21,692 546,785 Techno Electric & Engineering Co., Ltd. 831 1,095 Texmaco Rail & Engineering, Ltd. 5,750 2,815 Thermax, Ltd. 11,921 122,278 Timken India, Ltd. 2,794 7,103 Titan Industries, Ltd. 46,614 204,726 Torrent Power, Ltd. 32,752 44,630 Trent, Ltd. 2,317 34,697 Triveni Turbine, Ltd. 33,780 28,866 TTK Prestige, Ltd. 490 26,289 Tube Investments of India, Ltd. 17,531 41,767 * TV18 Broadcast, Ltd. 144,441 54,508 TVS Motor Co., Ltd. 52,589 43,494 UCO Bank 60,445 71,383 Ultratech Cement, Ltd. 10,437 332,843 Union Bank of India 47,888 96,196 * Unitech, Ltd. 512,548 145,667 United Bank of India 10,576 5,811 UPL, Ltd. 92,942 247,857 Usha Martin, Ltd. 15,735 6,445 V-Guard Industries, Ltd. 1,558 12,365 Vakrangee Software, Ltd. 17,996 19,711 * Videocon Industries, Ltd. 28,713 81,064 Vijaya Bank 41,995 28,217 Voltas, Ltd. 37,318 54,248 WABCO India, Ltd. 1,336 36,557 Welspun Corp., Ltd. 44,425 30,724 Wipro, Ltd. 89,971 701,935 Yes Bank, Ltd. 44,408 266,110 Zee Entertainment Enterprises, Ltd. 106,032 458,633 * Zee Learn, Ltd. 18,459 8,165 Zensar Technologies, Ltd. 1,279 5,604 Zuari Agro Chemicals, Ltd. 497 761 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ---------- ----------- INDIA -- (Continued) Zydus Wellness, Ltd. 1,930 $ 17,746 ----------- TOTAL INDIA 44,371,011 ----------- INDONESIA -- (2.4%) Ace Hardware Indonesia Tbk PT 1,045,000 56,533 Adaro Energy Tbk PT 3,413,000 308,551 Adhi Karya Persero Tbk PT 189,000 32,664 Agung Podomoro Land Tbk PT 2,109,500 52,301 AKR Corporindo Tbk PT 527,500 226,706 Alam Sutera Realty Tbk PT 2,781,500 149,992 Aneka Tambang Persero Tbk PT 1,513,000 214,420 Arwana Citramulia Tbk PT 1,498,000 119,572 Asahimas Flat Glass Tbk PT 2,000 1,465 Astra Agro Lestari Tbk PT 95,500 157,427 Astra Graphia Tbk PT 236,000 34,740 Astra International Tbk PT 2,604,500 1,535,583 * Bakrie and Brothers Tbk PT 10,309,000 45,726 * Bakrie Sumatera Plantations Tbk PT 4,126,500 18,309 * Bakrie Telecom Tbk PT 4,450,000 19,714 * Bakrieland Development Tbk PT 8,497,250 37,719 Bank Bukopin Tbk PT 1,175,500 67,715 Bank Central Asia Tbk PT 1,293,000 1,197,974 Bank Danamon Indonesia Tbk PT 592,742 226,266 Bank Mandiri Persero Tbk PT 1,470,972 1,123,233 Bank Negara Indonesia Persero Tbk PT 2,025,500 863,445 * Bank Pan Indonesia Tbk PT 1,444,000 91,999 Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT 642,500 51,974 * Bank Permata Tbk PT 7,500 947 Bank Rakyat Indonesia Persero Tbk PT 1,775,000 1,245,743 Bank Tabungan Negara Persero Tbk PT 1,374,473 118,304 * Bank Tabungan Pensiunan Nasional Tbk PT 413,000 160,161 * Barito Pacific Tbk PT 711,500 30,305 * Bayan Resources Tbk PT 13,000 10,028 * Benakat Petroleum Energy Tbk PT 4,345,000 45,840 * Berau Coal Energy Tbk PT 848,500 13,627 * Berlian Laju Tanker Tbk PT 2,525,666 -- Bisi International PT 645,500 34,878 * Borneo Lumbung Energi & Metal Tbk PT 1,991,000 38,798 Bumi Serpong Damai PT 2,196,000 304,627 BW Plantation Tbk PT 643,500 53,047 * Central Proteinaprima Tbk PT 5,740,500 25,465 Charoen Pokphand Indonesia Tbk PT 797,515 275,632 Ciputra Development Tbk PT 2,979,500 271,855 Ciputra Property Tbk PT 563,000 39,301 Ciputra Surya Tbk PT 430,000 86,510 * Citra Marga Nusaphala Persada Tbk PT 603,500 169,904 * Darma Henwa Tbk PT 3,026,500 13,424 * Delta Dunia Makmur Tbk PT 1,963,000 15,120 * Energi Mega Persada Tbk PT 15,020,500 106,527 * Erajaya Swasembada Tbk PT 176,500 21,278 * Exploitasi Energi Indonesia Tbk PT 2,356,000 54,333 * Fajar Surya Wisesa Tbk PT 146,000 25,886 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- -------- INDONESIA -- (Continued) Gajah Tunggal Tbk PT 517,500 $105,481 * Garuda Indonesia Persero Tbk PT 185,500 8,059 Global Mediacom Tbk PT 1,820,500 308,353 * Gozco Plantations Tbk PT 531,000 5,463 * Hanson International Tbk PT 1,396,500 65,624 Harum Energy Tbk PT 362,500 101,090 Hexindo Adiperkasa Tbk PT 121,000 33,803 Holcim Indonesia Tbk PT 490,500 112,018 * Indah Kiat Pulp & Paper Corp. Tbk PT 503,500 68,708 Indika Energy Tbk PT 589,500 40,750 Indo Tambangraya Megah Tbk PT 105,500 279,736 Indocement Tunggal Prakarsa Tbk PT 236,500 438,283 Indofood CBP Sukses Makmur Tbk PT 167,500 166,292 Indofood Sukses Makmur Tbk PT 1,175,500 692,518 Indosat Tbk PT 158,000 61,629 Indosat Tbk PT ADR 2,476 50,758 * Inovisi Infracom Tbk PT 428,945 29,281 Intiland Development Tbk PT 1,527,500 50,061 Japfa Comfeed Indonesia Tbk PT 1,682,500 208,798 Jasa Marga Persero Tbk PT 456,000 212,286 Kawasan Industri Jababeka Tbk PT 7,006,523 151,957 * Krakatau Steel Persero Tbk PT 252,000 12,514 * Lippo Cikarang Tbk PT 206,500 123,307 Malindo Feedmill Tbk PT 213,000 63,689 Matahari Putra Prima Tbk PT 863,000 183,577 Mayora Indah Tbk PT 121,333 314,844 Medco Energi Internasional Tbk PT 544,000 118,210 Media Nusantara Citra Tbk PT 615,500 136,313 Mitra Adiperkasa Tbk PT 175,500 84,036 MNC Investama Tbk PT 8,815,200 273,489 Modern Internasional Tbk PT 312,000 23,653 * Modernland Realty Tbk PT 1,255,500 90,163 * Multistrada Arah Sarana Tbk PT 33,500 1,098 Nippon Indosari Corpindo Tbk PT 78,500 43,145 Nusantara Infrastructure Tbk PT 1,735,000 39,248 Pakuwon Jati Tbk PT 1,896,000 52,026 * Panin Financial Tbk PT 5,948,000 105,428 Panin Insurance Tbk PT 992,000 62,635 Pembangunan Perumahan Persero Tbk PT 592,000 68,695 Perusahaan Gas Negara Persero Tbk PT 1,205,000 545,013 Perusahaan Perkebunan London Sumatra Indonesia Tbk PT 1,185,000 168,035 * Polychem Indonesia Tbk PT 312,500 8,307 Ramayana Lestari Sentosa Tbk PT 1,175,000 128,174 Resource Alam Indonesia Tbk PT 116,500 26,320 * Samindo Resources Tbk PT 62,250 3,481 Sampoerna Agro PT 234,500 36,989 Selamat Sempurna Tbk PT 259,500 64,439 Semen Indonesia Persero Tbk PT 246,000 312,984 * Sentul City Tbk PT 9,186,500 174,936 Sinar Mas Agro Resources and Technology Tbk PT 36,000 20,751 Sinar Mas Multiartha Tbk PT 16,500 5,546 * Sugih Energy Tbk PT 2,359,500 96,225 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- INDONESIA -- (Continued) Summarecon Agung Tbk PT 2,656,664 $ 247,030 Surya Citra Media Tbk PT 544,000 113,380 Surya Semesta Internusa Tbk PT 1,407,000 99,758 * Suryainti Permata Tbk PT 1,280,000 -- Tambang Batubara Bukit Asam Persero Tbk PT 203,621 219,495 Telekomunikasi Indonesia Persero Tbk PT 800,000 166,408 Telekomunikasi Indonesia Persero Tbk PT Sponsored ADR 22,648 923,132 Tiga Pilar Sejahtera Food Tbk 576,500 67,454 Timah Persero Tbk PT 772,000 110,831 Total Bangun Persada Tbk PT 518,000 33,970 * Tower Bersama Infrastructure Tbk PT 212,000 107,132 * Trada Maritime Tbk PT 946,500 127,598 * Truba Alam Manunggal Engineering PT 3,328,000 14,762 Tunas Baru Lampung Tbk PT 446,000 18,979 Tunas Ridean Tbk PT 238,000 12,030 * Ultrajaya Milk Industry & Trading Co. Tbk PT 203,000 88,623 United Tractors Tbk PT 415,295 644,569 Vale Indonesia Tbk PT 820,000 179,580 Wijaya Karya Persero Tbk PT 633,000 107,715 XL Axiata Tbk PT 599,000 237,603 ----------- TOTAL INDONESIA 19,893,835 ----------- MALAYSIA -- (3.9%) Aeon Co. M Bhd 33,100 167,668 Aeon Credit Service M Bhd 2,160 11,114 Affin Holdings Bhd 131,900 178,152 AirAsia BHD 484,100 410,975 Alam Maritim Resources Bhd 99,300 49,997 Alliance Financial Group Bhd 341,300 561,023 AMMB Holdings Bhd 478,375 1,122,732 Amway Malaysia Hldgs 16,600 65,416 * Ann Joo Resources Bhd 94,700 36,004 APM Automotive Holdings Bhd 33,600 61,099 Axiata Group Bhd 348,550 758,735 Batu Kawan BHD 32,100 199,064 Benalec Holdings BHD 227,000 85,636 BIMB Holdings Bhd 128,900 196,764 * Bumi Armada Bhd 245,400 307,967 Bursa Malaysia Bhd 85,700 218,368 Cahya Mata Sarawak Bhd 41,600 67,203 Can-One Bhd 18,800 20,848 CB Industrial Product Holding Bhd 36,140 33,556 CIMB Group Holdings Bhd 963,168 2,289,474 Coastal Contracts Bhd 99,600 110,780 Cypark Resources Bhd 54,200 36,395 Daibochi Plastic & Packaging Industry Bhd 2,100 2,371 Daya Materials Bhd 266,500 33,770 Dayang Enterprise Holdings Bhd 54,900 95,403 Dialog Group BHD 327,725 285,445 DiGi.Com Bhd 362,800 574,601 DRB-Hicom Bhd 353,900 284,789 Dutch Lady Milk Industries BHD 4,900 72,206 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- -------- MALAYSIA -- (Continued) Eastern & Oriental Bhd 365,900 $232,908 FAR East Holdings BHD 14,000 33,254 Fraser & Neave Holdings Bhd 9,100 53,682 Gamuda Bhd 471,800 728,128 Genting Plantations Bhd 64,700 223,016 Globetronics Technology BHD 44,200 42,290 Glomac Bhd 119,700 42,856 * Goldis BHD 10,197 6,428 Guan Chong Bhd 21,800 10,776 GuocoLand Malaysia Bhd 34,800 12,458 Hai-O Enterprise BHD 39,400 34,836 HAP Seng Consolidated Bhd 301,720 234,204 Hap Seng Plantations Holdings Bhd 90,600 76,057 Hartalega Holdings Bhd 45,000 103,144 * HO WAH Genting BHD 145,700 10,156 Hock Seng LEE BHD 37,600 23,459 Hong Leong Bank Bhd 113,340 513,141 Hong Leong Financial Group Bhd 66,600 319,218 Hong Leong Industries Bhd 54,300 89,174 Hua Yang Bhd 96,533 66,090 HwangDBS Malaysia BHD 30,600 41,585 IGB Corp. Bhd 332,490 280,410 IJM Corp. Bhd 492,957 906,401 IJM Land Bhd 162,400 143,901 IJM Plantations Bhd 65,000 66,767 Inch Kenneth Kajang Rubber 77,800 22,440 Insas Bhd 116,213 23,552 IOI Corp. Bhd 391,205 674,856 Iris Corp. Bhd 268,500 22,965 * JAKS Resources Bhd 278,400 49,005 Jaya Tiasa Holdings BHD 97,005 65,429 JCY International Bhd 338,200 68,054 * K&N Kenanga Holdings BHD 81,000 15,267 Keck Seng Malaysia Bhd 59,800 134,168 Kian JOO CAN Factory BHD 111,400 111,980 Kim Loong Resources Bhd 50,920 39,057 Kimlun Corp. Bhd 45,400 28,932 * Kinsteel Bhd 47,000 4,085 * KNM Group Bhd 557,487 72,414 * KSL Holdings BHD 82,500 53,978 Kuala Lumpur Kepong Bhd 62,350 456,242 Kulim Malaysia BHD 178,600 192,420 * Kumpulan Europlus Bhd 140,600 55,248 Kumpulan Fima BHD 22,900 14,289 Kumpulan Perangsang Selangor Bhd 97,100 71,692 * Land & General BHD 225,400 24,997 * Landmarks BHD 59,300 22,152 LBS Bina Group Bhd 118,100 66,592 Lingkaran Trans Kota Holdings Bhd 69,500 100,224 Lion Industries Corp. Bhd 240,400 67,364 LPI Capital Bhd 10,500 54,894 Mah Sing Group Bhd 306,779 217,595 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ---------- MALAYSIA -- (Continued) Malayan Banking Bhd 838,796 $2,599,948 Malayan Flour Mills Bhd 50,500 21,758 Malaysia Airports Holdings Bhd 192,716 513,827 Malaysia Marine and Heavy Engineering Holdings Bhd 99,100 121,868 * Malaysian Airline System Bhd 1,505,170 161,960 Malaysian Bulk Carriers Bhd 177,625 99,596 Malaysian Pacific Industries Bhd 20,363 18,189 Malaysian Resources Corp. Bhd 539,000 244,250 Maxis Bhd 226,500 516,167 MBM Resources BHD 58,230 69,369 Media Chinese International, Ltd. 48,500 16,439 Media Prima Bhd 278,000 232,549 Mega First Corp. BHD 46,000 26,672 MK Land Holdings BHD 31,600 3,655 MKH BHD 35,800 29,035 MMC Corp. Bhd 325,000 275,941 MNRB Holdings Bhd 27,600 30,620 Mudajaya Group Bhd 93,600 82,426 Muhibbah Engineering M Bhd 199,200 148,974 * Mulpha International Bhd 522,100 70,273 My EG Services Bhd 101,500 74,566 Naim Holdings Bhd 67,300 82,525 NCB Holdings Bhd 1,300 1,495 Nestle Malaysia Bhd 6,200 133,557 NTPM Holdings Bhd 50,200 10,659 Oldtown Bhd 29,700 23,342 OSK Holdings BHD 161,209 83,918 Padini Holdings Bhd 121,700 68,243 Panasonic Manufacturing Malaysia BHD 13,100 97,156 Paramount Corp. Bhd 55,600 27,649 Parkson Holdings Bhd 163,530 194,878 * Perdana Petroleum Bhd 165,600 106,995 * Perisai Petroleum Teknologi Bhd 268,000 119,753 Pharmaniaga Bhd 15,400 23,213 PJ Development Holdings Bhd 126,900 47,847 POS Malaysia BHD 86,000 155,569 PPB Group Bhd 130,700 608,608 Press Metal Bhd 96,100 74,802 Public Bank Bhd 108,700 631,033 Puncak Niaga Holding Bhd 86,200 92,349 QL Resources Bhd 72,200 90,568 RHB Capital Bhd 231,893 580,136 Rimbunan Sawit Bhd 239,000 63,218 Salcon Bhd 264,800 56,655 * Sapurakencana Petroleum Bhd 741,911 940,698 Sarawak Oil Palms Bhd 24,900 45,753 Sarawak Plantation Bhd 6,400 5,174 Scientex BHD 21,500 38,354 * Scomi Energy Services Bhd 156,300 37,351 Selangor Dredging Bhd 190,000 54,525 Selangor Properties Bhd 2,100 2,787 Shangri-La Hotels Malaysia Bhd 101,700 222,790 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- MALAYSIA -- (Continued) Shell Refining Co. Federation of Malaya Bhd 44,800 $ 101,152 SHL Consolidated BHD 98,500 71,497 SP Setia Bhd 106,400 103,570 Star Publications Malaysia Bhd 80,200 63,293 Subur Tiasa Holdings Bhd 70,415 42,871 Sunway Bhd 258,800 228,513 Supermax Corp. Bhd 214,550 179,365 Suria Capital Holdings Bhd 18,100 11,702 Syarikat Takaful Malaysia Bhd 14,400 42,545 * Symphony Life Bhd 59,865 22,772 Ta Ann Holdings Bhd 39,289 46,585 TA Enterprise Bhd 412,400 94,781 TA Global Bhd 264,180 24,691 TAN Chong Motor Holdings BHD 73,000 145,690 Tasek Corp. Bhd 2,100 10,406 * Tebrau Teguh Bhd 100,100 42,822 Telekom Malaysia Bhd 161,600 268,314 Tenaga Nasional Bhd 389,400 1,163,651 * TH Heavy Engineering Bhd 200,600 54,999 TH Plantations Bhd 61,320 34,006 * Time dotCom Bhd 101,900 130,721 Tiong NAM Logistics Holdings 11,000 16,908 Top Glove Corp. Bhd 128,300 232,078 Tropicana Corp. Bhd 165,100 75,870 TSH Resources Bhd 92,600 73,990 Uchi Technologies Bhd 51,700 23,745 UEM Sunrise Bhd 534,264 395,867 UMW Holdings Bhd 134,300 544,622 Unico-Desa Plantations Bhd 214,540 78,807 Unisem M Bhd 223,630 62,698 United Malacca Bhd 20,100 45,932 United Plantations BHD 21,300 180,373 UOA Development Bhd 187,500 132,495 VS Industry Bhd 56,245 24,066 Wah Seong Corp. Bhd 142,629 76,830 WCT Holdings Bhd 289,780 224,941 Wing Tai Malaysia BHD 13,400 11,117 WTK Holdings BHD 175,000 72,051 Yinson Holdings BHD 21,000 32,206 YNH Property Bhd 36,499 20,819 YTL Corp. Bhd 1,492,964 780,551 YTL E-Solutions BHD 48,400 9,964 * YTL Land & Development BHD 61,900 19,105 YTL Power International Bhd 561,573 338,135 Zhulian Corp. Bhd 41,700 59,192 ----------- TOTAL MALAYSIA 31,857,775 ----------- MEXICO -- (5.3%) Alfa S.A.B. de C.V. Class A 802,622 2,197,372 Alsea S.A.B. de C.V. 133,712 416,082 # America Movil S.A.B. de C.V. Series L 1,841,832 1,972,093 America Movil S.A.B. de C.V. Series L ADR 133,377 2,855,602 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ ------- ---------- MEXICO -- (Continued) Arca Continental S.A.B. de C.V. 62,817 $ 371,685 #* Axtel S.A.B. de C.V. 418,560 131,850 # Banregio Grupo Financiero S.A.B. de C.V. 32,600 180,425 * Bio Pappel S.A.B. de C.V. 25,132 62,198 # Bolsa Mexicana de Valores S.A.B. de C.V. 126,870 301,246 #* Cemex S.A.B. de C.V. 681,298 723,738 * Cemex S.A.B. de C.V. Sponsored ADR 326,379 3,453,090 Cia Minera Autlan S.A.B. de C.V. Series B 17,200 11,720 Coca-Cola Femsa S.A.B. de C.V. Sponsored ADR 4,965 603,446 # Compartamos S.A.B. de C.V. 129,600 251,606 * Consorcio ARA S.A.B. de C.V. Series * 381,848 148,967 Controladora Comercial Mexicana S.A.B. de C.V. 181,458 740,171 * Corp. GEO S.A.B. de C.V. Series B 185,607 6,960 Corp. Moctezuma S.A.B. de C.V. Series * 87,200 273,953 #* Desarrolladora Homex S.A.B. de C.V. 45,100 11,182 #* Desarrolladora Homex S.A.B. de C.V. ADR 3,666 4,839 El Puerto de Liverpool S.A.B. de C.V. 34,393 370,389 #* Empresas ICA S.A.B. de C.V. 37,500 71,222 #* Empresas ICA S.A.B. de C.V. Sponsored ADR 43,420 330,426 * Financiera Independencia S.A.B. de C.V. 21,447 7,611 Fomento Economico Mexicano S.A.B. de C.V. Sponsored ADR 38,039 3,549,039 #* Gruma S.A.B. de C.V. Class B 117,718 809,403 * Grupo Aeromexico S.A.B. de C.V. 600 828 Grupo Aeroportuario del Centro Norte S.A.B. de C.V. 63,375 216,103 Grupo Aeroportuario del Pacifico S.A.B. de C.V. ADR 10,080 524,059 Grupo Aeroportuario del Pacifico S.A.B. de C.V. Class B 30,400 158,300 Grupo Aeroportuario del Sureste S.A.B. de C.V. ADR 6,569 781,777 # Grupo Aeroportuario del Sureste S.A.B. de C.V. Class B 23,000 273,678 # Grupo Bimbo S.A.B. de C.V. Series A 355,699 1,196,818 Grupo Carso S.A.B. de C.V. Series A1 142,253 775,088 # Grupo Comercial Chedraui S.A. de C.V. 111,096 346,216 Grupo Elektra S.A.B. de C.V. 1,590 53,614 * Grupo Famsa S.A.B. de C.V. Class A 101,246 192,059 Grupo Financiero Banorte S.A.B. de C.V. 532,846 3,410,933 Grupo Financiero Inbursa S.A.B. de C.V. 402,677 1,037,613 Grupo Herdez S.A.B. de C.V. Series * 45,119 159,074 Grupo KUO S.A.B. de C.V. Series B 28,600 55,020 Grupo Mexico S.A.B. de C.V. Series B 889,168 2,817,996 * Grupo Pochteca S.A.B. de C.V. 23,090 31,041 * Grupo Simec S.A.B. de C.V. Series B 36,526 136,197 * Grupo Simec S.A.B. de C.V. Sponsored ADR 1,721 19,138 * Grupo Sports World S.A.B. de C.V. 16,500 23,902 Grupo Televisa S.A.B. Series CPO 208,410 1,268,135 Grupo Televisa S.A.B. Sponsored ADR 89,689 2,730,133 #* Impulsora del Desarrollo y El Empleo en America Latina S.A.B. de C.V. 163,400 331,878 Industrias Bachoco S.A.B. de C.V. ADR 1,161 47,589 Industrias Bachoco S.A.B. de C.V. Series B 8,451 29,005 #* Industrias CH S.A.B. de C.V. Series B 72,797 357,199 Industrias Penoles S.A.B. de C.V. 20,265 588,399 * Inmuebles Carso S.A.B. de C.V. 84,300 83,995 Kimberly-Clark de Mexico S.A.B. de C.V. Class A 302,275 919,063 Megacable Holdings S.A.B. de C.V. 40,989 135,245 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ MEXICO -- (Continued) # Mexichem S.A.B. de C.V. 298,340 $ 1,243,002 #* Minera Frisco S.A.B. de C.V. 88,740 227,848 #* OHL Mexico S.A.B. de C.V. 213,903 548,887 * Organizacion Soriana S.A.B. de C.V. Class B 245,520 794,486 #* Promotora y Operadora de Infraestructura S.A.B. de C.V. 57,756 586,491 TV Azteca S.A.B. de C.V. 324,269 161,796 #* Urbi Desarrollos Urbanos S.A.B. de C.V. 102,404 12,322 Wal-Mart de Mexico S.A.B. de C.V. Series V 462,160 1,201,515 ----------- TOTAL MEXICO 43,332,757 ----------- PERU -- (0.2%) Cementos Pacasmayo SAA ADR 1,200 14,184 Cia de Minas Buenaventura SA ADR 15,794 229,013 Credicorp, Ltd. 9,300 1,270,380 ----------- TOTAL PERU 1,513,577 ----------- PHILIPPINES -- (1.4%) Aboitiz Equity Ventures, Inc. 333,930 393,330 Aboitiz Power Corp. 310,100 244,123 Alliance Global Group, Inc. 1,180,600 720,370 Atlas Consolidated Mining & Development 168,700 48,241 Ayala Corp. 36,411 508,372 Ayala Land, Inc. 635,060 432,330 Bank of the Philippine Islands 141,002 326,278 BDO Unibank, Inc. 257,706 483,475 * Belle Corp. 1,243,000 149,671 Cebu Air, Inc. 70,340 85,842 China Banking Corp. 93,797 134,560 DMCI Holdings, Inc. 244,190 292,512 EEI Corp. 134,000 33,457 * Empire East Land Holdings, Inc. 1,223,000 26,865 Energy Development Corp. 2,267,200 304,266 Filinvest Land, Inc. 4,373,000 162,617 First Gen Corp. 377,400 140,429 First Philippine Holdings Corp. 110,930 178,376 * Global-Estate Resorts, Inc. 1,019,000 32,001 Globe Telecom, Inc. 9,630 387,953 International Container Terminal Services, Inc. 211,310 508,739 JG Summit Holdings, Inc. 183,400 185,344 Jollibee Foods Corp. 78,260 321,436 Lafarge Republic, Inc. 205,362 44,225 * Lepanto Consolidated Mining 1,552,000 15,402 Lopez Holdings Corp. 796,900 89,046 Macroasia Corp. 79,000 3,715 Manila Electric Co. 27,820 195,660 Manila Water Co., Inc. 228,700 132,256 * Megawide Construction Corp. 49,660 12,904 Megaworld Corp. 5,589,000 495,865 Metropolitan Bank & Trust 105,930 218,411 Pepsi-Cola Products Philippines, Inc. 622,300 69,860 * Philex Petroleum Corp. 10,900 2,204 Philippine Long Distance Telephone Co. Sponsored ADR 4,851 320,894 EMERGING MARKETS SOCIAL CORE EQUITY PORTFOLIO CONTINUED SHARES VALUE++ --------- ----------- PHILIPPINES -- (Continued) * Philippine National Bank 83,200 $ 185,855 Philippine Stock Exchange, Inc. 4,420 37,231 Phoenix Petroleum Philippines, Inc. 136,240 17,263 RFM Corp. 243,000 30,9